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Despite a turbulent year, marked by rate rises and market downturns, One Agency was able to expand its presence within Australia and New Zealand, with three key strategies heralded as key to the network’s growth.
For Paul Davies, One Agency’s founder and chief executive officer, the year presented numerous challenges, mainly “the uncertainty around where the market was heading, and how/if that may impact their businesses”.
As a result, “assisting members to manage their concerns and advising how they could navigate the rapidly changing marketplace with minimum impact on their profits was a core focus”.
Paramount to the network’s growth last calendar year was minimising costs during the downturn. According to Mr Davies, One Agency’s head office assisted members to “identify running costs they could cut back on, and to use appropriate proptech solutions for things like marketing, branding, and general running of the business”.
Falling under the company’s cost-cutting umbrella was the implementation of appropriate tech solutions, which assisted members in marketing, branding, and business operations. Mr Davies acknowledged agents who invested in these systems were able to weather 2022’s economic storm with their bottom line intact.
Moreover, given the increased uptake in “those switching from the traditional franchise-fee model to our low monthly fee model”, One Agency has noted a shift towards personalised branding with national backing, given “many agents [are] realising they are the brand, yet know they can still benefit from the marketing tools and backing of an established and well-regarded international network”.
Mr Davies also relayed how 2022 saw the brand engage in several strategic alliances with leading providers, including Managed App and MRI Software, to “offer our members discounts and exclusive deals on products and services that are essential for any future-proofed real estate business”.
These alliances “ensure that members have access to resources they would otherwise have had to pay more for, allowing them to stay competitive even when times are tough”.
And while these strategies helped deliver success throughout 2022, Mr Davies and the team at One Agency don’t envision them staying there.
“Head office doesn’t really consider the strategies implemented in 2022, for the benefits of members and the growth of the network, to be specific just to the challenges of last year’s marketplace,” he said.
“Forward-thinking solutions and astute partnerships that reduce ongoings in order to maximise retained income have always been a part of our playbook and will remain in play for the future.”
Moving into the new year, and with whispers of a global recession increasing in volume, Mr Davies believes “agents and business owners must pay more attention to the income they retain and above GCI”.
Describing 2023 as the “main event”, he considers the operational challenges induced by COVID-19 and its various lockdowns and stifling measures as “a bit of a pre-game warm-up” to the year ahead.
He forecasts “an increasing number of agents and property managers leaving the industry and increasing numbers of agents and businesses seeking alternatives to traditional ways in order to enhance their margins”.
As for One Agency, the goal is to build on the 41 licensees signed last year and continue to focus on “emerging opportunities for real estate business owners to enhance their operations and profitability”.
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