Andrew Lam runs the Andrew Lam team at Five Doors Network, which helps agents escape inconsistent deal flow by joining an expansion team. Five Doors manages listings, marketing, and admin work across 21 locations, and is investing $2.1 million to expand its hub and services.
Questions this video answers
Andrew Lam — regional director for Five Doors Network and owner of the Andrew Lam team.
"21 locations in soon to be 13 regions."
The 2017 Inman Innovator Award for most innovative team.
$2.1 million.
Chapters
Foreign. Hey, it's Andrew Lam here, a regional director for Five Doors Network and owner of the Andrew Lam team, powered by Five Doors Network. There comes a point where you're trying to do a lot of business and maybe you don't know who to hire in order to help you service all that business. So you kind of get in the real estate roller coaster of, you know, I generated six leads that want to do something, buy or sell. Now I'm working those leads, getting them into homes or listing their home. But that leaves no time for more lead generation. So I'm working with six, six clients. I service them, get them into contract, or get their listings in contract. And now what? They've closed. They made a lot of money. But where's my next check going to come from? So the real estate roller coaster of, you know, two deals and nothing, three deals and nothing, six deals, maybe the nothing. I remember three. There was a month where I closed eight and then there was nothing for a little bit. So lots of ups and downs. What this does, joining a team, or especially an expansion team simply means that you can have more stability and more leverage without sacrificing your net income. For instance, agents come to our team. We provide all of the support, listing management, listing coordination, marketing for flyers, open houses, listing signs, yard signs, lock boxes, everything's covered. So that our agents only have to deal with getting in front of people, getting in front of buyers and sellers, and then getting them into contract. From the point it's in contract, our administrative staff takes care of everything. They become the first point of contact for that client so our agents can go back out and do what they do best, which is be face to face with buyers and sellers. If you want to do that on a larger scale, that's where expansion comes in. So now this one team is able to provide that service and that leverage to real estate agents across the country. So within Five Doors Network, which is where I am, we actually have 21 locations in soon to be 13 regions. So what's very cool about that is the amount of growth, the amount of power, the amount of clout that brings. We have been nominated for the 2017 Inman Innovator Award for most innovative team. But also the amount of just finances that we get to put behind our core services and actually offer a better experience to our clients. So we're putting $2.1 million back into our hub in order to better service our clients and add more staff to better provide service and support for our agents. So all the way around, we are now a world class company versus being a single local agent where you're trying to juggle a lot of business but might be dropping balls in certain places. So if you have any questions at all about what that kind of means the team versus Expansion local team versus Expansion team concept, feel free to give me a call. I'm happy to help, happy to talk more about it, and would love to answer any questions you have. Shoot me off an email or reply. You can write a comment on this video or click the button to the left and let me know if you have any questions. Thanks.
