Many real estate brokerage operations today could best be described as expensive hobbies full of risk and hard work but with little financial rewards. Businesses that return less than three percent on gross revenue would qualify for that designation. Profit is not a four letter word and can be something other than an interesting concept but actions needs to be taken. Striking an ostrich pose and hoping that a market improvement will save you is not a formula for success.
Today markets are challenging us to be leaders; to make the tough decisions and run our companies like businesses. Are we managing to the appropriate metrics? Do we base our decisions on what the competition is doing or what is right for us? Are the inmates running the prison? Is there a way out?