CONTRIBUTORSElite AgentLEADERSHIP

Sustainability starts with small decisions

In recent years the property market has grown exponentially, and while the success it has generated is welcome in businesses across the country, it's important to realise growth isn't guaranteed. That's why setting your business up with long-term, sustainable strategies and practices is essential. As Domain Chief Revenue Officer John Foong explains, leaders need to build businesses that focus on wellbeing - for the business as a whole and each team member.

The Australian real estate market is buzzing with growth and opportunity.

Seizing these opportunities and setting yourself up to thrive isn’t just about building a business on efficiencies and capabilities, but setting up a business with the long-term goal of wellbeing as the bottom line. 

It’s been less than a year since I stepped into the role of chief revenue officer at Domain, and the number of conversations incorporating sustainable business practices is increasing.

I’m chiefly asked how sustainable modelling partners with technological innovation to drive real change within an agency and drives long-term gain.

I see sustainability as a long-term business management approach – working to adopt practices and digital processes that help make better decisions, and support agents to improve workflows to facilitate better business outcomes. 

It’s also about finding ways to champion our people – whether through investing in technology to support better business practices or external activities like the Trailblazer awards, sustainability is a long-term game that prioritises wellbeing.

Sometimes it is hard to see how these big-picture concepts link to daily agency life – but there are some practical ways to lean in – not just into your business, but into digital solutions that will allow you to drive better economic, environmental and wellbeing outcomes.

Firstly, you must make a framework for business decisions with the future in mind. 

Sustainability modelling is needed at all levels, not just as a roadmap for action but also for our (and our employees’) wellbeing.

Doing this doesn’t have to be tricky – resources like Domain Agent Solutions have been designed so you can be more successful in half the time. 

Pricefinder, for example, provides data and analytics to power prospecting and pitching, giving you clarity on the opportunities available to you.

It is about helping you learn more about each property faster and ensure each call you make is more effective – more success in less time. 

Secondly, technology is your friend.

PropTech is evolving rapidly. Open-platform development, the rapid uptake of Artificial Intelligence and the continued digitisation of agency practices mean we are taking steps towards more sustainable businesses every day. 

There are big and small ways to adopt technology, no matter the size of your business.

Tools like Bidtracker records relevant auction data, while Domain’s Real Time Agent Suite includes automated reporting contract management tools.

The goal is to save your time by having the most valuable data at your fingertips instantly, and save paper and processing by digitising your workflow – and meaning you can get things done without needing to return to the office.

Thirdly, sustainability is also a social goal.

We need to build sustainable businesses that don’t just benefit the bottom line but the health and wellbeing of team members that make up our agencies.

Domain champions social wellbeing through the Rise Conference, a resource to support personal and team wellness and performance goals.

Rise offers programs and training in skills to help align with the values of wellness, mindfulness, fulfilment and service.

We also have a free EAP offering that provides opportunities for agents to tap into professional development and coaching to support their health, enhance their productivity, and ultimately set them up for longevity in the industry.

They can arrange to chat with a qualified counsellor or coach at Domain’s expense, frequently if need be, all in absolute confidence.

The recent celebration of Trailblazers award winners is not just a focus on the future talent of our industry but the innovation in action across our country’s real estate market.

The world is moving fast. Change is daunting, but to thrive, we must adapt to a long-term business approach that prioritises wellbeing and sustainability in the broadest sense.

Sustainability starts with small decisions. By employing digital tools and software to save you critical time in the day, you and your team can focus on what you do best.

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John Foong

John Foong is the Chief Revenue Officer at Domain. For more information visit www.domain.com.au

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