Much has already been written about the waves of change sweeping through the industry, but not all of them are threats. Leading networks Century 21 and LJ Hooker have identified key areas of potential growth that they are currently prioritising. REB asked them to elaborate on the subject.
Century 21 chairman and owner Charles Tarbey said that his emphasis was shoring up the brand value and promoting both nationally and in C21’s key catchment areas.
“Our focus is on ensuring that our value offering to agents is as strong as it can be and our marketing clearly promotes and differentiates our offices in the field,” Mr Tarbey told REB.
“I believe that growth will take care of itself if we do these, and other little things, right.”
Mr Tarbey said that one such initiative was already in motion.
“We recently launched one of our largest marketing campaigns in Australian history in order to promote the repositioning of our brand.
“This investment is already benefitting our offices and helping to strengthen the network.”
It is Century 21’s largest ever marketing campaign and has already reached over two million Australians. Running in every state and territory, the campaign showcases the company’s new brand while challenging consumers to expect more from real estate agents.
The campaign’s visuals and message are currently being seen on buses and outdoor billboards, in cinemas and shopping centres, online and on Australian television channels.
Mr Tarbey said that the new multichannel campaign was reaching thousands of potential buyers and sellers.
“While the campaign aims to drive traffic to our offices across Australia, it is also designed to powerfully reposition the C21 brand to better reflect what the business stands for and to challenge consumers to expect more from us.”
LJ Hooker network chief Graeme Hyde said that the group has three core priorities: increasing market share through consideration and lead generation, growth for profitability and staff attraction, and productivity and retention.
He said that it was important to have the right mindset at a time like this.
“LJ Hooker Corporate has been focused on making sure our business owners are in growth mode,” Mr Hyde told REB.
“That includes making sure their businesses are agile to make decisions freely and effectively that bolster their bottom lines.”
Not pulling punches, the network chief said that the current market is tough.
“In the modern-day real estate business, maintaining market share is akin to going backwards,” Mr Hyde said.
“If you’re not growing, that means one or more of your competitors is [growing] and it’s very difficult to play catch-up.”
He said that this was where the network was able to add an extra level of value.
“Our business growth coaches work with our business owners to make sure that any acquisition, change in structure or strategic hire they make is positioned to result in increased profitability.
“These priorities are supported by our digital offering and our online/offline training programs.”