A S.W.O.T. analysis, while not a new tool, is nonetheless a highly effective one. In fact, it has the potential to be a real game changer for real estate brokerages today. In this first installment of this three-part series, we'll outline the basic structure of a S.W.O.T. analysis.

The first step of a truly effective S.W.O.T. is to first gain consensus among the key stakeholders on what the objectives of the company are. They might include things like:

• Improved profitability
• Become the dominant brokerage in your market area
• Grow and train a highly effective sales team
• Improved communications both internally and externally
• Update company technology
• Establish a positive corporate culture

Failing to obtain consensus on these objectives will render a S.W.O.T. analysis less effective, at best, and a waste of time, at worst. If participants have different results in mind, then how can they arrive at one correct result?

Once established, you can then move into the real power of a S.W.O.T. analysis which is gaining insights into the four quadrants of the S.W.O.T. Here are some typical insights uncovered:

STRENGTHS:

• Long history of the company
• Top quality management expertise
• Second best market share

WEAKNESSES:

• Lack of clear company vision
• Poor recruiting and retention strategies
• Infrequency of sales meetings

OPPORTUNITIES:

• New market areas opening up
• Competitor changing management
• Embracing new mobile technologies

THREATS:

• Rising interest rates
• Top agent considering leaving
• Reduced listing inventory

In our next installment, we'll cover how to prioritize these insights and develop actions steps to address them.

To learn more or to book a SWOT Analysis contact David Thompson, Director, Broker Development and WOLFwatch Services at [email protected] or call 1.866.CRY.WOLF (279.9653) ext. 1385.

To view the original article, visit the Lone Wolf blog.