“Your biggest competitor is complacency”
I can’t remember where I read this but it’s never left my thoughts. What does it mean to you?
For me it’s a reminder that letting the business competition guide my actions is a waste of time. The only thing I should concern myself with is how I can best help the public meet their needs.
This might sound an obvious thing to say but you’d be surprised how many organisations make critical, strategic decisions based on what the competition is doing. They spend so much time and energy on this that they forget what's really important – the customer. As an estate agent I had a few local estate agents spend every minute of their waking hour attempting to sabotage my business. One of them even followed me when I went to market appraisals to see what I was ‘valuing’.
Knowing what the competition is doing is one thing. Making them the centre of your business strategy is a recipe for disaster. Ultimately, only one thing matters. Your customers have property to buy, sell and let. What are their needs and how can we help them meet these needs? Everything else is secondary.
Worry less about other property agencies and more about your customers. Agree?