How many times have you either asked that or thought that? Today, it’s a tough question being asked in the relocation industry. In fact, I’m not aware of one organization – whether corporate, third party, or brokerage – that isn’t being asked to redesign our service menu, reduce the bulk, offer leaner items, and create a healthier diet for us all.
Challenging? Yes, it is…it’s not easy to slim down. Achievable? Yes, it is…when we set our goals and work towards them.
Everyone’s financial diet is being trimmed; there are no “seconds” available on our tables. We are doing this at home and at work. We are cutting back on out-of-date and unnecessary expenses, overhead, and jobs, while trying to increase and grow revenue at a time when not too many companies and transferees are biting.
Weighing In:
Can the relocation industry continue to support the zero-fee pricing model as a viable solution? No.
Can broker referral fees and supplier participation fees continue to be increased either internally or by their valued clients? No.
Can a corporation see relocation costs continue to rise, yet achieve more with less? No.
Can we really expect each other to survive if we continue with the same old diet? No.
What if we don’t change our old habits? Will we be the next ‘biggest loser’?
Balancing the Scale:
There is no magic bailout for our industry. There is no Robin Hood. Maybe one old adage of being “brilliant at the basics” needs to be revived. By being the best at what we do, we bring value to one another. Value equals revenue. We aren’t NPO’s. I remember my father always saying, “A dollar saved, is a dollar earned.” That doesn’t sound too hokey in today’s economy, does it?
We can’t survive without one another. We all compliment and create a great palate together. And this makes a healthy diet. Can’t we create solutions that will help one another, without expanding our waistlines for a bit? Can’t we achieve the successful outcome we desire while trimming down some of the fat? We’re a smart and viable industry that can balance the scale by creating the best plan, the best diet, and the best solutions to answer the question correctly: “Yes dear, they fit perfectly!”
Posted by: Ginny T. Logan, CRP, GMS, Senior Vice President,
Briggs Freeman International
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Aloha, Ginny.
This is a very appropriate question in today’s real estate market – not just for Relo, but for the entire industry… I believe the traditional brokerage “structure” is irreparably broken, with huge offices, lots of overhead and cubicles that buzzed with activity in 2005, now quiet with only the sound of air conditioning to break the eerie silence. The phones don’t ring, the door doesn’t open with walk-in buyers. Everyone is online, instead.
Here’s a great blog post you might be interested in reading: http://www.1000wattconsulting.com/blog/2009/07/repositioning-for-the-future.html.
Smart Marketing. Solid Representation. Katie Minkus, R(B) Broker-in-Charge Hawaii Life Real Estate Services, LLC 9 Puako Beach Drive, Big Island, Hawaii.