GRIT: The Real Estate Growth Mindset Episode 102: Building a Business vs. Building a Practice with Bobby Moats and Erin Leff
There are two ways to build a business in real estate. One, you can build a practice which you can grow, but then it dies when you decide to leave. Or, you can build a business which you can also grow and integrate processes and systems in it so that it will continue to thrive even after you’re gone from it.
If you want to build a business, you need to decide which way you want to go and how you want to do it. Then you need to choose if you want to do this by yourself or do it with someone who already has a team.
Whichever route you choose to take, don’t let your fear of failure take over you. Because in order to grow and be successful, all it needs is to have the courage to take the first step.
Brian Charlesworth joins Bobby Moats and Erin Leff of The Moats Team at Keller Williams as they talk about the difference between building a practice vs. building a business, what the Moats Mastery training is all about, the value of building an ISA team, and so much more.
Top Takeaways:
06:37 What does expansion network mean?
07:27 What is the key to their team’s growth?
09:53 The problem with hiring high-producing agents
10:37 Why the Moats Team highly prefers new agents
12:33 The single most important investment you can make
13:57 The hardest shift for most real estate business owners
17:13 Why top Rainmakers should figure out a way to get out of the day-to-day production
19:03 What does the Q1 numbers say about our current real estate market?
21:26 What should a real estate business owner do to stay ahead of the game?
23:50 How did the Moats Mastery Training came about
36:06 One of the challenges in building an ISA team
42:10 What the Onward Faster podcast is all about
46:28 Bobby and Erin’s last piece of advice for anyone who wants to build a real estate business
Get in touch with Bobby Moats and Erin Leff
About the guests:
Bobby Moats is the Co-Founder of The Moats Team at Keller Williams and is the Director of Agent Labs for the KW Labs Team at KWRI where he works closely with KW Agents, the tech team, and Leadership to define and expand the agent lab experience, as well as to promote the agent lab discussion.
Erin Leff is the VP of Growth of The Moats Team at Keller Williams. She is highly regarded for her ability to address complex sales, operational, and internal challenges through well-defined plans, thus increasing revenue for the company. She has been promoted due to her strong leadership skills and sales management abilities.