Posted by: housingdabble | June 16, 2009

Better to know a lot about a little

I read an excellent interview in the Sunday Times about London Estate Agent Trevor Abrahmsohn, owner of Glentree Estates the London Estate Agent to the super rich. Trevor has built his successful Estate Agency by focussing on the Hampstead and Highgate areas, avoiding the temptation to grow in size by opening branches in an attempt to dominate other parts of London. When asked why he hasn’t ventured out of his local parish, he responded “Better to know a lot about a little”.

Trevor has succeeded by having single minded focus on doing what he knows best and reminds me of an agent in Surrey that has so far been satisfied with being the best in has broken 1mil annual turnover from one pretty small office with a tight team.

When I first met him a couple of years back I asked him the same question and his response was as follows…

My wife asked me a few years back what my plans for the business were over the next 5 years and I responded that I intended to open more offices and spread my domination of the market into other areas taking advantage of the brand I’ve built up. She then responded by saying – no you won’t, you’ll be happy with being the most successful agent in the town, increase your staff to revenue ratio and spend more time with your family

…and so that is what he did.

Regardless of your reasons, there is much to be said for sticking to what you know best and doing it exceptionally, particularly in tough times. So by knowing a lot about a little, working out in which area you or your company can be the best, what you were ‘born to do’ and can get passionate about, you can find success.

Rather than being an olympic diver who does a five flip twisting dive, do the best swan dive you can and do it perfectly over and over again.


Responses

  1. Quite True. Too many agents over the last 5 years during the good times assumed it would never end and over stretched themselves. Opening new branches and putting the wrong people in them to manage them instead of keeping the reigns themselves. In my experience the best run agencies ( i.e. most profitable) tend to have a great agent / valuer / manager running the office with a partner running the business. Being a good agent doesn’t necessarily make a good business man unfortunately. Work out what you are good at and work to get even better at it.

  2. Quite True. far Too many agents over the last few years during the good times assumed it would never end and over stretched themselves. Opening new branches and putting the wrong people in them to manage them instead of keeping the reigns themselves. In my experience the best run agencies tend to have a good manager running the office with a partner running the business.


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