How we grew to 10 offices in 10 months
Growth in the real estate industry is not as easy to come by as it once was. The market has tightened, franchisees are more cautious about which brands they align with, and it can be difficult to find and retain talent who can make regular board appearances.
Growing a brand has been an important part of my real estate journey. With my previous franchise I was responsible for growing an office to 14 in three years, and now as Victorian State Manager of Coronis we are on track to achieve this in 12 months, this which makes it, to my knowledge, the fastest growing real estate network in Australia.
Here are some lessons I learned along the way and are now implementing in my current role to gain momentum.
- You gotta love what you do
Succeeding in real estate takes hard work and dedication, and whether it’s franchising or real estate in general, if you don’t like it and enjoy the challenge of building something big, it’s a career or your business, it just won’t work. Nor will it be sustainable in the long term. This industry can be tough, and it’s not for everyone, and that’s okay, but with anything, if you don’t have a passion for it from the start, it probably won’t be. not for you in the long run.
- Encourage your team to be leaders
I am fully aware that I cannot grow a brand on my own nor would I want to, which is why I have invested resources in building a great team around me. Without their support and shared vision, the rapid expansion would simply not be possible. We strategically place people in positions that focus on their natural strengths, allowing them to feel competent quickly and facilitating a natural tendency to then assume a position of ownership and leadership within their role.
- Know your strengths
We cannot be good at everything, nor should we try to be. I’m very aware of my strengths, which are training, growth and candor, and my role as state manager is tailored to those strengths. In the areas where I need help, I have people who can do those tasks better than me, and I allow them to take ownership of those responsibilities. Generally speaking, people tend to appreciate roles in which they are good and which allow them to use their natural abilities, and we have taken the time to identify these areas within our staff and place them in appropriate roles.
- Aligned values
At Coronis we have clear values on which we recruit, and I believe that staying true to this guideline has been crucial to our success and growth. We can always teach skills, and people will naturally acquire knowledge; however, the values don’t change, so we make sure our team aligns with them before we partner with them. This has also resulted in a very low turnover rate for our team, which has been hugely beneficial to our clients’ ongoing productivity and consistency.
- Shared vision
We have an ambitious vision of what the future of Coronis looks like. We communicate the company’s ambitions to the team while encouraging their personal growth within the organization. A big attraction for franchisees has been the personal training tailored to each business. We invest time to intimately understand what each franchisee needs, as each has different challenges and therefore requires a different type of support.
- Play the long game
I am active in each franchisee’s business to ensure their long-term success. It’s about playing for the long haul, because success takes time, and we want to grow responsibly with the right people. Our vision is not to have a large number of offices but to have strong ones. I want the group to be big enough to make a difference, but intimate enough to be a bit boutique so that I can dedicate enough time to supporting each desk.
We have a clear five-year plan. We know where we want to be and we create serious career paths for people within the organization. We have a training model that is scalable and empowers people. This level of structure has been crucial for our growth, and we are careful not to grow too quickly, so we are able to maintain this framework.
We are far from where we want to be, but thanks to the dedicated efforts of our team, true to our structure and values, the future looks bright for the organization over the next five years and beyond. of the.
Adam Flynn is the State Manager of Coronis Group Victoria.