The main purpose of Wish real estate is to offer services of buying, renting and selling of properties to the community. The organization is driven by goals and objectives of providing an honest approach to customers and providing compliant trade in business and housing. Generally, the organization offers varieties of services such as property management, rent collections, evictions, and payments of bills, residential sales, rural sales, project marketing and mortgages (Wish real estate 2018).
The placement in Real Estate Company is divided by field of specializations. The company offers a maximum of five interns per department from different institutions. The placement is usually for three to six months and interns are not guaranteed Job upon completion of their placement period. Furthermore, the interns are divided into two groups. The first groups are of those who work full time in the company for a period of eight hours in the day. The second group is those who work part-time like weekends and night shift. Additionally, the organization encourages job specialization as interns and employees are thoroughly trained and brainstormed to improve the operation of the company.
Wish real estate uses functional organizational structure, which is derived from line structure. In a functional structure, the employee reports to all directors, not by the specific departmental director (Zheng, Yang and McLean 2010). For example, in Wish real estate organization, Information Technology director may call an intern from the marketing department to attend a particular issue relating to marketing. The organization is owned by the family and runs an independent agent. The organization is headed by CEO who chairs the board of directors from different departments like IT, Finance, sales, and marketing follows. Directors also head different managers in their departments. Then managers are head employees.
Wish Real Estate Company has approximately two hundred employees who are classified according to the department. Some departments like sales and marketing have the highest number of employees as compared to other departments. The employees are retained and hired depending on the workload of the organization.
Wish real Estate offers personalized and expert techniques for managing the property. The concept of management is founded on accountability, integrity, professionalism and high quality of services that guarantee the maximum return of customer’s investment.
The wish real estate company is a medium-sized company. The company operates under estimation budget of $ 2000,000 with different resources and departments allocated a specific amount that can run it annually.
Wish real estate has developed a good customer profile in the recent years. The favorable demographics and strong economic growth have made the customers feel free when investing in their properties. Both Internal and external stakeholders are customers of the company. Internal stakeholders’ customers include employees, agents, and managers (Beringer, Jonas and Kock 2013). External stakeholder’s customers include buyers and sellers, government officials and any other customer outside the business. The company has further built a great customer profile by providing transparent business activities.
Wish real estate has a good working relationship with competitors and other companies from diverse industries. Furthermore, the company conducts benchmarking with them after sometimes in order to determine the key areas that need improvements. Wish real estates also partners with companies in community benefit activities and programs like conserving the environment. The organization also attends regional conferences, meeting and team building organized by other companies.
Part 2: Key Performance Area Skills
Professional Industry Engagement
|
date |
Key Performance Areas |
Application of key performance to workplace |
Summary of learning |
|
awareness |
· Understanding and managing my roles, weaknesses, and strengths. · Managing my emotions – paying attention to emotions improved work performance and the better understanding of how I did things, which is an important aspect in self-leadership. · Relating better with colleagues, creating a harmonious working environment, direct reports to my superiors. |
· Awareness enabled me to learn how to look at issues more objectively and the role I played in creating the issues. Additionally, I learned to be mindful in operating in the real estate industry. |
|
|
motivation |
· Motivation enabled me to maintain a good personality which enabled me to make a good impression to clients which influenced my reputation as more clients wanted me to service them. · By staying motivated, I was able to enhance my skills and managed to maintain relish for my work · Motivation enabled me to be inclined to going the extra mile for clients and leads |
· Motivation assisted me in gaining momentum in dealing with clients and working with colleagues in my given roles. I learned how to enhance client satisfaction and how to improve reputation for success in the real estate industry |
|
|
Teamwork |
· As part of a team, we were able to negotiate the offers, resulting in a fast sale of our listings · I kept my input short and sweet and talked and listened briefly and with clarity · I applied teamwork in ensuring that I communicate with colleagues so as to move in the same direction |
· Knowledge is power and through teamwork and sharing knowledge with colleagues, we were able to create conditions for excellence, which constantly led to a good management practice and improving low performing employees |
|
|
collaboration |
· Through collaboration, we were able to create more activity by marketing effectively online and ensuring that we had something valuable to offer. · Collaborating enabled us to maintain a single direction and engagement · We collaborated in sharing a plethora of interesting information among the employees and clients |
· Collaboration created a powerful connection in our team which assisted us in succeeding and helping each other in building powerful referral networks hence boosting the organization |
|
|
Problem-solving |
· I applied problem-solving skills in knowing the target market and the problems they have · Problem-solving assisted me to tailor my pitch and find a solution · I was able to offer solutions hence alleviating real-estate problems · I used gentle persuasion by giving clients merits and demerits |
· The application of problem-solving techniques assisted me in finding solutions to common real estate problems which affected the business so as to get more deals which differentiated wish real-estate from other real estate companies. |
|
|
Decision making |
· The application of decision making enabled our team to negotiate on the best deal with the clients · Decision-making techniques assisted us in deciding the location of investments · Through the application of skills in decision-making, we were able to strategize on the development of the local real estate market. |
· Through teamwork, decision-making techniques assisted me in applying the best negotiation skills in developing wish real estate and developing investments for the company |
Part 3: Key Learnings and Initiatives Journal
Professional Industry Engagement
|
Key learning initiative |
Application of key learning or initiative |
Impact on business |
|
awareness |
-I used the formal structures, rules, and responsibility and handled all the matters of organization with expertise -I also used discretion when handling all sensitive matters of the organization -I demonstrated the understanding of the interrelationship between the company and the agencies and identified the opportunities based on cultural wants. |
-The awareness helped the company to identify new investments and markets in the competitive environment. When a good awareness is created more customer care skills are learned (Huang and Sarigöllü 2014) -Awareness also improved customer care skills and help the company to accomplish objectives, strategic goals, values, mission, and vision. |
|
motivation |
– I negotiated with the organization to provid interns with transport and lunch allowances so they can be motivated to come early and on daily basis for work. Furthermore, other employees had good compensation and benefits package. I motivated myself by set daily targets, which I accomplished. |
-The organizational performances were significantly boosted with a company improving the market shares. Whenever employees are motivated the production increase (Aktar, Sachu and Ali 2012) |
|
Teamwork |
Despite major tasks being handled by experienced staff I also encouraged the division of labor by dividing the daily tasks with other interns |
The teamwork assisted the organization in accomplishing the tasks effectively and faster as compared to tasks being handled by individuals. -teamwork also created a good working relationship and solved employees conflicts as employees had an opportunity to bond with one another. Salas, Cooke & Rosen (2008) once stated that teamwork solves workplace conflicts and makes work easier. |
|
collaboration |
· Ensuring employees have adequate information in dealing with clients · Maintaining unilateral direction and engagement · Sharing ideas and offering quick consultation and effective online marketing |
The company enjoys a powerful connection and referral networks with clients and employees thus sustaining customer satisfaction through effective marketing, problem solving and awareness (Haynes & Nunnington, 2010). |
|
Problem-solving |
· Offering viable solutions to client complaints · Understanding the problems of the target market Solving problems and disagreements between colleagues |
· Alleviating potential problems which would have led to company losses (Baum, 2009). · Increasing the reputation of the organization through the quick solution and handling of customer queries (Deming, 2017). Strengthening the connection between team members hence resulting in the organization having a workforce which is focused on the same goals (Phillips & Roper, 2009). |
|
Decision making |
· Strategizing on developing the local real estate industry through making the best decisions for the company · Deciding on investment locations and best negotiations with clients |
· Increased revenue resulting in the overall development of the company (Ratcliffe, Stubbs & Keeping, 2009). · Assisting the real estate organization in developing investments (Brueggeman & Fisher, 2011). |
References
Aktar, S., Sachu, M. K., & Ali, M. E. (2012). The impact of rewards on employee performance in commercial banks of Bangladesh: An empirical study. Journal of Business and Management, 6(2), 9-15.
Baum, A. (2009). Commercial real estate investment: A strategic approach. Estates gazette.
Beringer, C., Jonas, D., & Kock, A. (2013). Behavior of internal stakeholders in project portfolio management and its impact on success. International Journal of Project Management, 31(6), 830-846.
Brueggeman, W. B., & Fisher, J. D. (2011). Real estate finance and investments (pp. 5-6). New York, NY: McGraw-Hill Irwin.
Deming, D. J. (2017). The growing importance of social skills in the labor market. The Quarterly Journal of Economics, 132(4), 1593-1640.
Haynes, B., & Nunnington, N. (2010). Corporate real estate asset management. Estates Gazette.
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.
Phillips, D. R., & Roper, K. O. (2009). A framework for talent management in real estate. Journal of Corporate Real Estate, 11(1), 7-16.
Ratcliffe, J., Stubbs, M., & Keeping, M. (2009). Urban planning and real estate development. Routledge.
Salas, E., Cooke, N. J., & Rosen, M. A. (2008). On teams, teamwork, and team performance: Discoveries and developments. Human factors, 50(3), 540-547.
Wish real estate (2018). Summary – Wish Real Estate. [online] Wish Real Estate. Available at: https://www.wishrealestate.com.au/summary/ [Accessed 27 Sep. 2018]
Zheng, W., Yang, B., & McLean, G. N. (2010). Linking organizational culture, structure, strategy, and organizational effectiveness: Mediating role of knowledge management. Journal of Business research, 63(7), 763-771.
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