IN FOCUS: Choosing the right brokerage

Why so many agents are suffering without a business plan

Jul 16, 2018

by Joe Rosengarten 

Creating a solid and sustainable plan is a crucial first step for any business person in any industry. In a business world as competitive today’s, it is something that can differentiate success from failure.

But while many real estate agents may think they’re currently working within the framework of a business plan, industry veterans are extremely concerned at the complete lack of planning or vision that they see among the vast majority of Canada’s agents, many of whom end up dropping out of the industry because they have no workable business plan in place.

“99% of agents have no business plan at all, and yet they expect to make $100,000 or $200,000 a year,” says AJ Lamba, Broker of Record at Whitehill Real Estate Team Inc. “Many think they have a mental business plan but in reality they do not, they are relying on luck. They wake up every morning and wait for their phone to ring without having any business strategy in place.”

Lamba’s words may seem harsh or come as a shock to many, but he does not blame agents for not having a proper business plan in place - he is placing the blame with the “hotel-style” brokerages that have over 300-400 agents who should be guiding and developing their agents in a conscientious way.

“The reality is that these agents are just a number to the big brokerages that charge a Desk Fee every month and that Desk fee is their Business Model,” Lamba says. “As long as they receive their desk fee and they are happy - they have no motivation to help their agents to develop and grow their businesses. As a result, real estate has become a 90/10 business: 90% of the deals are done by 10% of the agents and the remaining 10% of the deals in the GTA are done by the other 90%. That is why 35% of agents did zero deals last year.”

Another reason for this shocking statistic is that the vast majority of agents only work with buyers and not sellers, either because they lack the confidence or the expertise to list properties. But simply hunting for new buyers is not a strategy that Lamba perceives to have any chance of creating long-term success.

“We are trying to do the exact opposite: we are not hunting buyers we are going for listings,” he says. “We are trying to create the first of its kind, a listings-oriented brokerage. We are also helping people create solid plans that enable agents to envision where their business is going in the next 5 – 10 years. I have done a lot of analysis over the years and the number one truth in the real estate industry is that you must list to last. If you do not have listings, you cannot last in the business.”

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AJ Lamba, the name synonymous with quality, dynamism and unparalleled customer services has attained the epitome of excellence in the domain of Real Estate in Canada. With a multi-faceted & enriching experience of over 2 decades, he has sold over $600 million worth of real estate and has been awarded numerous awards for his dedication and top-notch calibre in this domain.

AJ Lamba's brain-child WhiteHill Team has brought in gold-standard processes, impeccable customer service and have made the process of selling/buying a home as easy as possible. It is no wonder that they sell one property in every 30 hours to customers who laud their customer service and impeccable attention to detail!

At WhiteHill Team, we understand all real estate concerns and that is why we have a dedicated Seller Team, which offers customers the power of 21 professions in various domains of advertising, photography, Social Media Marketing, agents who ensure the best deal for the property. Their 31-marketing plan is so comprehensive that it attracts the best clients and the free staging service allures the customers no end.

AJ Lamba, the multi-awarded realtor has spared no expense in making sure that WhiteHill Team is as technologically advanced as possible. In this endeavour, drone photography, high definition virtual tours, personalised websites for clients are done so that each and every property that passes through WhiteHill Team gets the most optimum deal.

WhiteHill Team aims to become a world class realty company, which provides customised technologically advanced solutions to customers for buying/selling theira properties in the most comprehensive way. Their expertise speaks volumes about their passion towards their craft and their commitment to excellence.

Choose WhiteHill Team, Choose Excellence!

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