The secret to growing a real estate team can be summed up in 4 words: people move the money. If you’re a team leader or broker owner looking to add more transactions to your bottom line, you can’t avoid adding to your agent count.
You could pour more into the agents you do have and try to squeeze more production out of them, but if you’re relying on that for growth, you’re going to be disappointed. Of course, it’s critical to keep developing our people, but there’s only so much more we can get out of them. Even if we give them everything, people will inevitably hit a ceiling, so we have to get more people in if we want to increase our results.
You may get out of production to grow your team, but that doesn’t mean you stop lead generating. Now your lead gen efforts need to be put toward building your agent pipeline, having recruiting conversations and treating agents like your new listings.
A business vs. a job
There are two types of people in real estate: agents who love selling houses and agents who want to build businesses. The ones who want to build businesses grow by bringing more agents on, instead of trying to increase their transactions. The reality is: we could go out tomorrow and start making listings and we’d probably make more money, but we don’t want a business that relies on our effort to grow. We want leverage through people.
Agents are your new listings
Team leaders or broker owners who want to grow their agent count may step out of selling homes, but they still have to lead generate. You have to channel the energy you put into real estate into recruiting people to your team. The activities are the same: you have to get on the phone, set appointments and convert those appointments into closings AKA an agent joining your team.
The good news about the proposed NAR settlement
If you’re a team leader looking to grow your agent count, this NAR settlement presents a huge opportunity. A lot of people aren’t prepared for the changes in the industry and their businesses are suffering. This is a perfect opportunity to step in, have an honest conversation and provide much-needed guidance by offering to bring them on your team.
8 million opportunities
So many people in real estate believe there’s no opportunity in this market, but the numbers don’t lie. In 2023, 4 million homes sold, and that means there were 8 million opportunities. There’s still plenty of transactions to be had for the agents doing the right things.
Guest Info
With a North Carolina Broker's License acquired in 2005, Noah embarked on a remarkable journey in real estate. Selling over 1400 properties and personally listing more than 100 homes in a single year, Noah's expertise became evident early on. Beginning his career with Keller Williams Realty in 2005, Noah took the bold step of founding George Real Estate Group in 2019, an independent brokerage serving Western North Carolina and Upstate South Carolina. Notably, Noah transitioned away from active sales, redirecting his focus towards building the business through training, mentoring, coaching, and recruiting. Starting with 12 agents in early 2023, the brokerage has flourished, growing to 25 agents by the onset of 2024. This expansion has notably propelled productivity even during a challenging real estate environment, boasting a 100% increase in production during the first quarter of 2024 compared to the same period last year, directly attributed to the emphasis on team development. To date, Noah's career at KW and the collective efforts of George Real Estate Group have facilitated over $346 million in real estate transactions. Connect with Noah on LinkedIn.
-------------------------------------------------------------------------------------------------------------------
CTA
Please leave us a review at https://ratethispodcast.com/nla
