Establish More Than a Wishlist

Often, top producers formulate strategy and then broadcast key themes to the rest of their team or brokerage, expecting quick and definitive action. But even if you set a winning aspiration, your strategy can still fail—spectacularly— if you fail to establish management systems that support those choices and capabilities. Without a clear action plan and supporting structures, systems, and a tangible way to measure success, your strategy remains a wish list, a set of goals that may or may not ever be achieved.

To truly win in your market, your real estate organization needs a clear process for creating, reviewing, and communicating about strategy; it needs structures to support its core capabilities; and it needs specific measures to ensure that the strategy is working. These management systems are necessary to complete the strategic choice cascade and ensure effective action throughout the organization.