By Charlie Young, President and CEO, ERA Franchise Systems LLC

Execution – it’s the largest opportunity in real estate today and quite frankly, in any industry. Simply put, that means determine what you do best and set out to do it better than anyone else. Do that and you will win every single day. Here’s an example of how this works.

As a CEO, I have access to people who practice real estate all over the world. Recently, I came across a mid-sized brokerage run by Gen X-ers with some really interesting ideas – they are doing a lot of things really well. That said, they recognized one particular area in which they excel – generating and converting leads from Millennials.

You know Millennials – the group the media wants you to believe is not buying homes. Well, this innovative brokerage believes otherwise and uses social media and other young-minded channels to grab interest, create trust and convert that trust to viable leads. And this brokerage is growing at a rate of 20-25 percent every year.

This company realized it’s excelling at this quickly-growing niche better than anyone else – so well, that they took their practice nationally and are now selling leads and gaining referrals from Millennials for other businesses across the country. They identified their strength, perfected it, created a business model around it, stayed focused on what they do best and expanded it. They are winning – Every. Single. Day.

Another company I have come in touch with – a smaller company with about 10 to 15 agents – noticed their knack for acquiring listings. To take it to the next level, they started using market-specific data and predictive analytics to target homes that are soon likely to go on the market – before their competitors even realize those potential listings. They use this data to create really compelling marketing presentations to prospective sellers who, by the way, didn’t even realize they were going to sell until this brokerage contacted them. The brokerage realized their secret sauce is something special and they, too, are expanding it to select markets across the U.S.

In both cases, these leaders asked themselves what they could be experts in and then they made it happen. They saw a need that no one else knew existed, researched it, solved for it and then wholly owned it.

You can do that too. Here are my five rules on execution that you can follow when seeking to capitalize on opportunities today:

  1. Bring value every single day. You do not get to decide what the buyer values. It is the customer that decides what they value. So, it’s your job to figure out the intersection between your target audience and what you do really well. If you can connect the dots in those areas, then you have the makings of a really strong value proposition that you can deliver in your marketplace day in and day out – one that will distinguish you from your competition. Follow these tips to land on your own value proposition.
  2. Set the bar high. You must have aspirational goals that are also realistic and attainable. If they are not attainable, you’ll have a hard time believing in them and so will the people working with you. Also make sure those goals are measurable so you can gauge how you are pacing against them so you can course correct if needed. And, be public about those goals because that holds you accountable. Plus, when you communicate your goals, you leave yourself open to helpful ideas and insight from others. Before you know it, you can accomplish your ambitions in ways you never thought possible. And when that happens, recognize and reward the effort. It’s essential that you celebrate success along the way.
  3. Have a plan – work the plan. I don’t care if it’s scribbled on the back of a napkin – you have to have a plan. Document how you are going to reach achieve your goals. Write down the action steps – no more than ten – that will get you to your desired outcome. Then execute them better than anyone else. I do this myself. I have a one-page document at my desk that I review every month with my management team. We look at that plan and we work that plan. And if we determine upon review that something isn’t working, we diagnose why and then decide to tweak it or kill it and move on. You cannot be afraid to make those tough decisions. If it isn’t working, don’t keep doing it.
  4. Play offense, not defense. My favorite thing I’ve learned in business is to always play offense. There is no such thing as winning in business by playing defense. Instead of spending time reacting to circumstance, get ahead of what’s happening in your market and soon, you’ll be setting the pace.

Here’s a quick example. At one time, ERA Real Estate was not present in large NFL cities such as Nashville or Houston. We were in other strong markets but the really big ones were elusive. It could have been seen as a weakness but we flipped it on its head and turned it into an opportunity. We could offer brokerages in those markets who were looking to merge into larger companies the ability to grow without the chance of being surrounded by other ERA companies in their area. They could own that space while we helped them grow through mergers and acquisitions, brokerage consolidations, etc. Today, thanks to that offensive play, we’re in 12 NFL cities with companies that are at the top of their game and leaders in their market. Play offense  and you drive your own good fortune.

  1. When in doubt, change the rules. If the competition is playing soccer, then you should play football. What I mean by that is whatever game you are looking to be a leader in, change the rules so that you are doing something differently that will get you and the value you offer noticed by the people that matter – your target customers. If you have been plodding away in your market and not making the progress you want, my advice to you is to get outside of your own head and figure out how you can change the game so that you can offer something no one else can.

In my experience, if you focus on execution and take the five philosophies above to heart, you will be just fine and driving your own growth – whether personal or professional – will be well within reach.