Discussion Topic 1: Drivers of Change What are the major external and internal drivers of change in your organization? My current position is in operations in a residential real estate group. The major external factors in my organization include market conditions concerning inventory shortages, mortgage interest rates, and National Association of Realtors (NAR) lawsuit on commission/compensation. Our company is proactive with these major external drivers of change by offering our agents resources, courses, and specific trainings. It is important to be resilient and adaptable searching for competitive advantages with these external drivers (UMGC, n.d). My organization’s internal drivers are strategic goals for the organization and each of our 7 teams. We set goals for each of our 7 seven teams that start with each agent, structuring a team agreement that each agent signs off on. We utilize our technology to assess monthly how each agent is progressing towards their goals and specific metrics surrounding leads and conversion. This could be as micro as number appointments, meeting clients, writing offers, and specific lead source. Also, technologies in the form of CRM platforms and transaction management software. The company is currently using the top real estate CRM platform and this is a great internal driver of change that creates a competitive advantage for other real estate agents/teams/groups that are not utilizing this platform. I also have introduced google forms that feed into google sheets that allow us to fully automate and track ratified contracts. This allows me to track the hundreds of transactions (property address, contingencies, lender/title company contact information, client contact information, and a number of other valuable information concerning the transaction). I then have automated these google sheets to feed into property sales, monthly sales, and agent sales. These are all internal drivers of change to allow the organization to use these key performance indicators to create new strategic goals. References: UMGC. (n.d.). Resilience. https://leocontent.umgc.edu/content/scor/uncurated/mba/2218-mba670/learning-topic-list/resilience.html?ou=1288537# Less Post 2 What is, or should be, the role of the strategic leadership in your organization to meet its performance objectives, develop a resilient organization and respond to the challenges of environment and sustainability? There is a huge role of strategic leadership currently to meet performance objectives. The levels of conceptualization are a good way to classify leadership theories specifically for my current organization (UMGC, n.d.a). The organizational process starts with our core group which includes the owners and the operations team. The operations team meets weekly to ensure we are exercising strategic leadership to achieve our performance objectives set forth at the beginning of the year (UMGC, n.d.a). This core group that includes the operations team and each of the team leaders help shape and contribute to the strategy the organization implements and sets tangible goals for the agents to reach (UMGC, n.d.b). The mission statement of our organization is to be a one stop shop for all real estate needs. The premise is to have the customer at the forefront of everything we do, providing the best quality service and making the home buying/selling process as easy as possible. The customers' needs and wants are assessed and taken into consideration when creating objectives and priorities (UMGC, n.d.b). The organization audits what the organization is currently doing and look to the future to improve. We collaborate quarterly on performance objectives utilizing key performance indicators to assess the seven different teams and the respective team leaders. The group process starts with each individual team leader that is responsible for holding the agents on the respective team to their individual performance goals, they have quarterly sit-downs with each agent to assess performance, revisit team agreement, and hold the agent accountable to expectations. The dyadic process happens within each of the teams, where agents will collaborate with other agents on the team who specialize or have connections in a specific field within the industry. The organizational process tries to exemplify collaboration, mentorship, and coaching. The team leaders goal is to refine their agents skills, a resource for mentorship, solving problems that may arise, and to develop one prospect in their team to be their assistant team leader. The organization seeks to continue to invest in agents part of the team to become leaders of the organization. The organization has maintained the same number of sales during this contracting real estate industry. Instead of crumbling our organization has adapted to the increasingly high interest rates, national Association of Realtors lawsuits regarding buyer agent commission, and decreasing housing inventory. The organization is resilient and looks forward and comes up with solutions to combat these challenges (UMGC, n.d.c). Investing into the agents with courses, building confidence in dialogue, investing in different lead generation platforms, and pivoting the organizational structure to prioritize capturing and enhancing our listing programs. Regarding sustainability and the environment, we are a service organization, but have greatly reduced paper consumption through marketing. We have implemented the top customer relationship management platform to touch, market, and educate our database.
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