To give direction and focus to our team’s efforts in 2024. 2023 was a step back for our team overall in terms of results. We cannot afford to repeat that without reductions to our team size.
10% Better in 2024
Looking back at 2023, we had some successes, such as the most listings taken in team history and the launch of our new website. We also had some significant failures. Stephanie was let go in the summer for budget reasons. Max didn’t get the traction that he needed and parted ways with the team in November. Our budget is in turmoil and tough decisions have to be made every day about spending.
Nonetheless, our goal is to be bigger and better in 2024 than we have been in 2023. Let’s find out what we did right and double down. Let’s examine what we did wrong and fix it. In other words, let’s get real or let’s not play.
My title for this plan, 10% better, is based upon the idea that we’re so close to excellent in so many areas of our business. If we can just get 10% better across the board, the sum of those improvements will get us to the next level in our business.
What’s the Next Level?
80 Ends in 2024. A combination of listings, sales and rentals.
Who’s on the team?
I don’t want to lose anyone else, and I would like to add three more buyers’ agents so that we can really dig into leads.
Where did we go right in 2023?
We had a strong first half of the year.
We sold (not closed) the two highest-priced homes in Ottawa in 2023, by slowly and patiently working with a referred client. This one client has the potential to transform our business if he’s legitimate.
We built inroads into Beacon Hill, one of our preferred neighbourhoods, by getting involved in Soccer and the School Council
We had more Seller closings than Buyer closings, which is healthy in the long-term
We closed 8 deals from Reddit, which has zero cost
We started and have diligently continued a weekly newsletter
We launched a new and improved nickfundutus.ca
We hired Hannah Manierka and Chelsea Angus, both of whom have been assets to the team
We closed 13 referrals
We closed 4 repeat clients
We closed 6 Sphere clients
We have published a monthly market update every month
We have won listings that we would have likely lost in previous years (Ryan and Lionel, Marc and Rolando)
We collected several very positive reviews
We are carrying a number of listings which we can leverage into sales in 2024
Implemented very strong systems for FUB
Integrated FUB with Facebook Ads and our Website
Where did we go wrong in 2023?
We took too many overpriced listings.
We didn’t communicate the plans clearly to adjust to the market to our sellers
We didn’t fire some clients who should be fired
I overspent on marketing that had too long of a lead time (Google PPC + ISA)
I expanded marketing efforts too quickly
We did not have clear enough standards for actions
I did not hold my team accountable to standards tightly enough
I held on to Stephanie for too long out of loyalty, which hurt the team and didn’t set a good example
We did not leverage our listings well enough to get more deals from them
I was inconsistent with the podcast
I did not leverage the assets that we were creating (podcast, monthly market update, blogs) well enough to grow our audience and generate referrals
What do we need to do differently in 2024?
Not the plans here, just the broad strokes.
Set a very clear ad budget and expectations/standards for all types of our content
Prioritize remarketing and lookalike audiences for our marketing to attract similar clients to what we already have
Block time for reverse prospecting
Create consistency in Seller follow-up
Create standards for the closing process to
Generate positive reviews
Gather video reviews
Clarify what we’re measuring, and update if needed.
Hold each other accountable to the actions we’re to be taking
Keep FUB tight and well-accounted
Run new ad campaigns
Refuse to take overpriced listings
Improve the listing process to be more intentional
Improve the buyer process to be more intentional
Hire three new Buyer Specialists in 2023. Keep 2
Revise marketing spend for listings
Bring 3D photography in-house
Launch Quarterly Print Newsletter
Launch Weekly email newsletter
Activate drip emails for all leads
Print materials for listing launch and closing baskets
Set standards for sending referrals to team members
Relaunch ourbeaconhill.ca (end of 2023)
“Hire” volunteers for ourbeaconhill.ca (end of 2023)
Display our team and individual goals clearly in the office
Update and clean up the Wiki (end of 2023)
Clarify roles and responsibilities for each team member
Ratify splits chart
Create a “what to expect” procedures for Buyers AND Sellers.
Choose which software to invest in and what to discontinue. Tubebuddy, for example?
Where are 80 ends going to come from?
By Type, based upon 2023
Rental (listing or tenant)
Closings by Team Member
Rental (listing or tenant)
Where will we document this?
Procedures go in the wiki
Measurables for the team are recorded in Monday.com
Measureables for listings continue to go on Google Sheets for the individual listings
Tag lists are kept on Google Drive
FUB procedures are in a Google Doc and linked to the Wiki
Strategies and tactics for each of our action items go in the wiki and are linked back to this parent page.