7 Habits of Highly Effective Brokerages

Today's economy is fast paced and highly competitive. To stay on top, many brokerages need to adopt measures that will make them highly efficient and effective. Chances are that you are familiar with Stephen Covey's The 7 Habits of Highly Effective People. Published in 1989, it has sold more than 25 million copies in 40 languages worldwide and remains one of the best selling nonfiction business books of all time.

While Covey's book speaks about the habits of individuals, many of the practices he outlines can be adapted to your brokerage. Every brokerage has a style of doing business; everyone is different and you have to find what works for you. But to be successful, it's going to take a strong set of positive habits to get you where you need to go.

HABIT #1: Be Proactive

Top brokerages know that to grow and attract a high amount of activity, they must invest in their own business. Capitalize on the key marketing activities that are most likely to get you in front of the right clients frequently and consistently. Following this, make sure to track your investments. The more you spend, the more you should focus on measurable results. Monitor phone numbers, measure leads to closed sales, and ask about all sources used to search for homes.

HABIT #2: Set Goals

Envision what you want so you can work and plan towards it. Define the goals you have for your brokerage and break them into measurable chunks such as quarterly, monthly or even weekly time periods. Work with your team and encourage them to set and track their individual goals, as well. See how you can tie their individual performance into achieving company goals. Making business planning a daily activity allows you to track and adjust progress as needed.