Let’s make 2023 the year of travel. Personally, I am craving a trip to Italy, because honestly, who isn’t? The beauty of travel, no matter the destination, is that we learn about ourselves and others, build empathy, find our position in the world, and solve problems through new lenses.
This pursuit of new perspectives is something I share with Coldwell Banker® owners, an extraordinarily accomplished group of business leaders who I’m fortunate to work with and learn from as President of Coldwell Banker. The formula for growth used by our most successful companies? Tapping into the expertise of other network leaders, taking advantage of Coldwell Banker® products and support, and diversifying across multiple Coldwell Banker® programs.
Owners get together to learn from the best
Our successful owners routinely gather to share winning business strategies, discuss joint business ventures, and help make each other even stronger, displaying an unbeatable combination of know-how and camaraderie. Chuck Whitehead, the owner-operator of Coldwell Banker Associated Brokers Realty of Canyon Lake, CA, shares my appreciation of travel and peer-to-peer learning: “I can’t stress enough the power of masterminding with other successful Coldwell Banker owners. Through the networking opportunities, I can honestly say that we have added hundreds of thousands of dollars annually to our bottom line.”
Best-practice sharing is a synergistic process, and Chuck gives back as much as he benefits. On a recent roadshow, Chuck visited several other Coldwell Banker companies across the country, sharing his insights with their agents and management teams. A favorite presentation topic is on the Coldwell Banker® tech suite. Chuck shared, “I am constantly reviewing the tools and services offered by other brands. I can honestly say that for my 300+ agents, there are no better technology tools available than those offered through the Moxi Suite and CB Desk.”
Get strategies to supercharge your growth
Mergers and Acquisitions provide an avenue for quick growth for franchise owners but for anyone without a roadmap, it’s challenging to navigate the process. From prospect identification, research, and vetting to outreach, negotiation, and financial incentive formulation, we help franchise owners embody the brand every step of the way. We’ve supported a number of companies in their growth through the M&A process, including Winchester, VA’s Coldwell Banker Premier, which nearly doubled in size in just one year through a series of strategic mergers.
“CB provides us with resources to find and execute merger opportunities and the support to deliver on the promises we make,” shared owner Steve DuBrueler. Added COO Stephen Meadows, “Thanks to Coldwell Banker’s incredible value proposition and international branding, we are able to have conversations with companies that would otherwise not take our calls.”
Discover paths to expand your business
For Molly Hamrick, owner of Las Vegas’ Coldwell Banker Premier Realty, expanding into complementary markets has provided a path for additional growth. Coldwell Banker provides a unique value proposition in the real estate space, offering globally recognized residential and commercial brands, as well as an industry-leading luxury program.
“We’ve operated a successful Coldwell Banker franchise for nearly 30 years and recently added a focus on luxury property through the Coldwell Banker Global Luxury Program while also opening a Coldwell Banker Commercial franchise,” said Molly. “This has allowed us to not only broaden and diversify our target markets but provided a multiplier effect through synergies and referral opportunities.”
“It’s natural for families and circles of clients and friends to have a need for real estate expertise across multiple segments,” added Molly, “We make our agents aware of the crossover opportunities and how to capitalize on them.”
Think globally, join locally
In-person and virtual global networking opportunities challenge our brand to think globally and locally. From our Chairman’s Circle gathering, the Coldwell Banker Commercial Global Summit, and Gen Blue, we are constantly seeking novel ways to help our network forge meaningful connections. But you do not always need to cross continents, or even state lines, to find inspiration. Expanding your network with a growth-minded team of experts can be just as impactful as a physical change of scenery, without all the baggage.