Eric Forney, Director of Expansion for Keller Williams Realty International, shares riveting insights from his monumental journey in real estate. He reveals the critical importance of analyzing profit and loss metrics for team success. The conversation dives into the differences between traditional and cloud brokerage models, discussing their impact on profitability. Eric also addresses the necessity of shifting focus from gross commission income to net revenue. His pragmatic approach highlights the future of brokerage while dissecting the real costs of large teams versus sustainable business practices.
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question_answer ANECDOTE
Eric Forney's Rapid Growth Journey
Eric Forney sold 126 homes in his first year and hired Adam Hergenrother as his coach.
They partnered in 2021 to create Livian, which became the third largest real estate platform nationwide before acquisition.
volunteer_activism ADVICE
Focus on Profit Over Team Size
Avoid glamorizing big real estate teams; prioritize profitability and personal lifestyle needs.
Incrementally remove yourself from low-value tasks but keep client touchpoints for business excellence.
question_answer ANECDOTE
When Calls Overwhelm Success
Eric reached a breaking point handling 33 calls and 180 showings during a charity event.
He engineered a business model to sell more houses without personally answering the phone.
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On this power-packed episode of "Rethink Real Estate," host Ben Brady sits down with Eric Forney, Director of Expansion for Keller Williams Realty International. Eric shares his impressive journey from closing 126 homes in his first year to building one of the largest real estate platforms in the country. Dive deep into what really drives team success—from analyzing P&Ls before processes to tackling the challenges of scaling multi-site teams.Eric breaks down the realities of running a profitable team business, reveals why focusing on net revenue over gross commission income is a game changer, and shares his unique perspective on traditional versus cloud brokerage models. They also explore the future of brokerage, the evolving industry landscape, and the real costs of “glamorized” big teams versus sustainable profit-focused businesses.Whether you're leading a team, thinking about expansion, or just curious about the inner workings of top real estate platforms, Eric's insights offer a fresh, no-nonsense look at growing a thriving real estate business in today’s market.Timestamps & Key Topics:[00:00:00] - Introduction & Eric Forney’s Real Estate Journey[00:05:00] - Role as Director of Expansion at Keller Williams[00:12:00] - The Power of Analyzing Profit & Loss in Teams[00:18:30] - Building Profitable Teams: Cost of Sale vs Expenses[00:25:00] - What Makes Most Teams Unprofitable?[00:30:30] - Traditional Brokerage vs Cloud Brokerage Explained[00:37:00] - The Future of Brokerage Models & Industry Disruption[00:42:00] - Impact of Private Networks & Lead Aggregators[00:43:40] - Final Thoughts on Real Estate Team Success & Growth🔗 Related Resources Below:🌐 For more information on Harcourts Auctions our non-distressed auction platform feel free to visit https://www.harcourtsauctions.com🔗 Connect with Eric Forney and Keller Williams:https://www.explore317.com/https://www.linkedin.com/in/ericforney/https://www.facebook.com/eforney/https://podcasts.apple.com/us/podcast/disruptance/id1453590060https://www.youtube.com/@UCTz80Sf-vkaLV0aILIUVpxg https://kw.com/🔗 Connect with Ben Brady and Harcourts Auctions: https://www.facebook.com/Benbradyharcourtshttps://www.linkedin.com/in/ben-brady-0b223517https://www.instagram.com/harcourtsauctions https://www.facebook.com/HarcourtsAuctionsSubscribe for more expert insights and real estate strategies. Don’t forget to like, comment, and share your thoughts below!
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