There are many measures of success in real estate but just a few when it comes to profitability. A team that sells a thousand properties may seem good on paper until you discover it took 500 agents to realise the result. Then it’s not nearly as impressive. In fact, that business is probably sinking with crippling overheads.
When One Residential launched in January 2010, it was with a clear vision: a team of champions becoming a champion team. That can sound like an excuse for ‘staying small’ when there are no runs on the board, but as One is growing and maturing, the vision is coming to fruition.
“From the beginning, we wanted a business built on results, “ said One Principal, Michael Forzatti, “No passengers, all heavy lifters. We’ve always figured that a strong team is better than a big team.”
Objective success statewide would be more incidental; the guiding passion is achieving consistently dominant results in the City of Melville.
“The City of Melville has always been home turf for us, and in most ways, we’ve never compared what we to do what someone is doing in the northern suburbs other than out of curiosity. Achieving market leadership in the City of Melville, though, that’s relevant. It’s where we want relative strength,” Michael said.
These days, One has specialists beyond the City of Melville in a couple of directions, but it remains home turf.
“I always wanted to grow a quality team of absolute superstars. People who dominate their markets by delivering month after month. Salespeople that lead not only with results but with ethics, service, conduct, branding and marketing, and with a support team that sits in a different league.
“I’m not sure I can stress this enough: a great team of agents is only great if they’re part of a champion team. Administrators, property managers, personal assistants, a great General Manager - good stuff happens when they’re all committed to one great result,” Michael said.
Every business is driven by results so it’s no big news flash that One should also, but it’s the dominance with which they’re delivering that has put them pound-for-pound, head and shoulders above all comers. When it comes to comparative results of individual agents across a team, One knows no peer.
“We’re not talking about what we want to do anymore; we’re talking about what we’ve done and what we’re doing.
“We haven’t arrived, but I think we’re heading in the right direction,” Michael said.
By growing a team of market leaders in their respective areas, there’s no ambiguity.
“Every one of our team came here with real estate experience and an understanding of how they thought the industry works,” Michael said.
“We’ve challenged that philosophy. We said: ‘there’s a big difference from an agent that has an occasional purple patch to one that is an absolute gun in their patch. A patch where, if people are thinking of selling, they can’t help but think of you because you’re the clear market leader and have been for a while’,” said Michael.
It’s become a continual drive and motivation over the long term. The business will only ever add agents who are coming to accelerate, not stagnate. After all, that’s what everyone else around them is doing.
It’s a culture that feeds off itself. The dynamic in the office becomes fed by that buzz and expectation of success. Everyone operates on that same page.
When each agent is averaging 45 sales each year, something is going very right. The pound for pound claim is no longer an aspiration but an emphatic reality.