A real estate team leader explains how to scale buyer-side business from 170 to 400 transactions yearly by staffing 8-10 buyer agents at 40 homes each. The key: strict weekly tracking and quotas, even when agents push back. Leadership means being firm and supportive, not running a boiler room.
Questions this video answers
~170 buy sides
~400 buy sides per year
Eight to ten buyer agents
~40 homes per agent per year
All right, so biggest source of leverage, most. I'm not going to talk about the compensation model because we've already talked about that. But most team leaders, most teams, a traditional team, they need to be in production and focus on listings because the way they have their set up, their buyer, buyer business is not profitable. So they're giving away 60, 70%, 80% in some instances to their agents. Their gross margins are 30% on the buy side and it's something that they don't focus on. What I realized though, we did 170 something buy sides this year, we could do 400 buy sides and we'd have a few busy months. We're set up where Tia at a high level of service where she's giving like raving fan service. She could do 400 transactions in a year the way we have. We've set it up with the systems and whatnot. And so there's no additional hire there, there's no additional leads really for the most part. I need some more agents. So I'll need eight to 10 buyer agents on that side each selling 40 homes. And so we could do 400, 400 sides on the buy side without, without any additional, any additional overhead on my part. It's really, really cool. You know, most people, they think they don't want to be held accountable. So their knee jerk reaction is it could be a little bit grumpy about it, but they really, really do need it. You know, the majority of the population aren't like any of us. They're not that driven. They're not focused. They sort of let whatever happens in their email or their text or people calling them dictate where their day goes. They desperately need accountability. They desperately need it and ultimately they'll respect you for giving them accountability. There's no, here's the truth. There's no other sales job, a legit killer sales force sales organization that doesn't have a high level of accountability quotas that's driven. Some of it's still even like old school Boiler Room, you know. So our approach is a little bit more loving than some of the sort of depictions in these movies like Boiler Room or whatever or Glengarry Glen Ross, which is really cool. You know, coffee is for closers. So we're not those types of leaders. But they definitely need accountability. So don't shy away from it. The weekly tracker is the one thing that all of you are just really tippy toe around. You're like, no, no, I'm going to wait on that one. I'm going to wait on that one. I don't want my agents to let me know what they do on a weekly basis. And it's kind of like, when you really think about it, it's sort of ridiculous. It's only because it's you and your personality that is sort of forcing that to happen, so you've got to break through it.
