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LJ Hooker has set its eyes on creating future business owners, using its resources to equip salespeople with the tools they need to lead an office.
It is part of the brand’s growth strategy, as it expects to grow by 15 per cent this year.
The agency has noticed that business ownership in real estate has consolidated.
This is a result of there being more principals who search for a succession plan than there are agents who want to own their own office, LJ Hooker network chief Graeme Hyde said.
“It was because of this challenge that our management team looked to diversify our model in a way that will allow us to mentor new agents that have the opportunity to develop as future business owners,” he said.
“Having more shopfronts will always be at the core of LJ Hooker. It’s how we know we’ll continue to grow our market share and continue to develop our iconic brand, but we can’t rely on shopfronts alone.”
To ensure it can have more shopfronts and signboards up in areas where LJ Hooker is not, it had created LJ Hooker Connect to help get agents ready to own their own LJ Hooker franchise.
“[It] provides market support, training and coaching for those in the industry looking to join a franchise network but may not yet have the financial capacity for a bricks and mortar office and support team from day one,” LJ Hooker network development head Stephen Mutton said.
The agents who are part of the program will be mentored by an in-field coach and are backed by a team at its head office who will provide end-to-end support.
Head office will be able to help with marketing, lead generation and agent and administrative support, such as listings, trust accounting and contract management.
The LJ Hooker recruits will then be allocated a predetermined territory where LJ Hooker has no representation, which will give the brand a chance to expand and strengthen.
This is just one part of a three-pronged growth strategy from the brand.
To keep its traditional office model healthy, it has a recruitment strategy that targets independent offices, or those who leave another franchise group that want to benefit from what LJ Hooker can offer.
“Naturally, these businesses must be a good cultural and performance fit for our network and have a growth mindset,” Mr Mutton said.
“Secondly, we need to assist our bigger offices who have a growth mindset to grow more market share and become more profitable through extending their territorial reach and, in turn, allow them to improve their sales volumes.
“This is being achieved through an educational framework and our innovative digital platforms and lead generation.”
As the real estate landscape continues to be challenged, LJ Hooker remains committed to providing its network with the resources and knowledge agents need to deliver results and achieve their dream, Mr Mutton said.
“Our strategy is designed to strengthen our network and brand for generations to come, and provide the very best in career opportunities for our people no matter what stage they’re in.”
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