I help real estate leaders work through operational problems that are preventing growth (or happiness). You can book a free 15-minute call with me anytime – let’s see where you’re at.
One of the reasons I love to mentor other real estate leaders is because of my unconventional path to principal. When I took over the family agency, I was dealing with the loss of my parents, a business on the brink of financial collapse and a ‘team’ with every man for himself.
While that was the hardest period of my life, I got to rebuild the business from the ground up, the way I’d always envisioned. As we stabilised, the problems didn’t stop – we just grew into new/bigger ones.
As a leader of an ambitious real estate agency who also actively sells, I share strategies that are working right now in my own business. From lead generation to cashflow, recruitment, outsourcing and decision-making, leaders have a lot to navigate today.
In a recent coaching session, principals at a family real estate business shared how they were struggling to transition their son into a leadership position. While the business was successful, they were burned out to properly coach their son through the handover. Growth had been hampered by the inability to recruit and retain new agents, given their regional location and the loyalty to major agency brands.
The founders wanted to step out from daily operations without the business suffering. We discussed developing a strategy for scaling the business to reduce the sales burden on the son – so he could focus purely on his manager role, without single-handedly having to generate total revenue to ensure profitability.
The son admitted his recruitment efforts had been an ‘aggressive machine gun’ approach of contacting every local agent. Instead of lowering expectations to build out the team, they needed a more strategic recruitment strategy.
While established agents can bring immediate business, they also come with pre-existing habits that may not align with the agency's culture, and attracting them often requires high commission splits.
We determined their key differentiator is offering ‘intimate access’ to the principal, which the big conglomerates and franchises couldn’t offer. As such, their value proposition should centre on the personal success and commitment to providing hands-on, 1:1 training, and career progression. This includes being ‘on tap’ for deal support and helping agents level up.
We also discussed developing a company lead generation system where leads are distributed transparently, and the principal does not compete with the agents. The principal's personal guidance is a most powerful motivator, particularly for a new sales associate.
This was just one conversation track of multiple planned calls. Sometimes just having an outside perspective from someone who has been there is all that’s required. A lot can be achieved in a couple of focused sessions.
If this sounds like the support you could use, here’s how it works.