Being a Realtor is a non-stop job.
Even mega agents find themselves working too hard and not selling enough (which is a big part of the reason the failure rate is so high!).
Isn’t grinding it out a.k.a. ‘hustling’ the secret to success?
Well, not really. In fact, even Gary Vaynerchuk supports working smart over hustling to win big in business.
So, how do you scale your real estate business and still have a life?
Well, no secret formula will get you to the top. But there are a few proven practices you can emulate to help you move in the right direction.
Develop a clutter-free system
Real estate is a complicated juggling act.
Almost 65% of a reps’ time is spent on nonrevenue generating activities — pretty much the exact opposite of where you want to focus when you’re looking to scale.
The only difference between the majority of Realtors who run around chasing their tails and the rare few who rise to the top is how capable they are of turning down the noise to focus on what really matters.
How to leverage:
There are many ways to develop a distraction-free system, but the key is to keep it simple and consistent.
- For instance, Debra Beagle of The Ashton Real Estate Group created an agent training system that brought new realtor’s start to first sale time down from 120 days to 30 days.
- Or, you can use automated systems to build your own business intranet (and double your transactions while working fewer hours every week).
- Look for the bottlenecks in your business and start setting up your system to offload your most time-sucking tasks.
Smart automation: make complex sales processes dead easy
According to a decade long study on top-performing execs, the #1 thing that separates the best from the rest is the ability to deliver reliably—a.k.a. consistency.
But consistency in a typical real estate scenario means a lot of back-and-forth following up with complicated prospects over extended periods of time (think: months and months…and months).
How to leverage:
Real estate automation is all about effectively automating time-intensive processes while still maintaining that ‘human touch.’ After all, consumers in 2019 are smarter than ever. They know when they’re being automated.
Here are some proven ways to follow up with more leads in less time:
- Renee and Jeffrey Funk of The Funk Collection used behavior-based automation to create a 30/30 plan that organizes leads and creates highly segmented follow-ups strategies while still maintaining a personal touch.
- Barry Jenkins of the #2 Better Homes and Gardens team uses automation tools like Zapier & Follow Up Boss to take the “science side” of the business off of his agents’ shoulders so they can focus on what they do best, i.e., close more deals.
- Robert Slack of Robert Slack LLC makes sure his agents store detailed notes on every lead they call so that they always know how to lead a customized conversation.
Proactive team management
Growing a real estate business isn’t a one-person job. It takes a team of rockstar agents.
And you simply can’t scale without one. But if you don’t have the right management processes in place before you bring on new agents, you’re definitely flirting with disaster.
How to leverage:
An interview with Debra Beagle, of The Ashton Real Estate Group, revealed key insights on how she took raised her team status to the #1 RE/MAX team in the world.
- Debra uses a smart accountability system to maximize her team’s performance. Agents on the team have to make 10 calls a day to be eligible for receiving more leads.
- She also uses awesome perks to promote team culture and retain rockstar agents. For example, ‘Preds Day’ which is a monthly meeting at a Predators game at Bridgestone Arena.
- She’s even revamped her traditional office into a 3,000 square foot cafe-style office that not only increased team productivity but also keeps her millennial agents motivated.
Bottom line? Proactive team management is as important as hiring the right people and is an absolutely vital ingredient to building a rockstar real estate team.
(Also, If you didn’t already get the hint, a solid system is what gives you the foundation for tracking and empowering every agent on your team.)
Plant down, grow up
Growing a real estate business is exciting. But it can also be very easy to lose yourself in the daily hustle.
Remember, a business is meant to give you more time with your family—for hobbies, for traveling, for anything you want.
So keep your head straight and focus on the bigger picture—growing your business without working longer days. In the end, it all comes down to having the right systems and processes in place to handle extra bandwidth, without the extra headache.