Is Your Business Ready To Be Scaled?

He wasn't attracting. Notice the first driver is not called paying for crap, it's called attract. Right. What systems do you have in place in your database in listing marketing and buyer marketing to attract buyers and sellers to you through yard marketing or an open house system or expires or FSBOS direct response marketing to them. Your database, your client for life program, social proof, this virtuous cycle, right, that we have people say great things about us and then we have new people come in because they read those great things. That is what I'm talking about, attract. So ask yourself, scale of 1 to 5, am I more like this guy that's paying for a bunch of lead sources? Or maybe you have no high quality leads coming in regularly or five, you're crushing it and you have all the leads that you can possibly handle. The second driver is convert. There's a few elements here. There's lead management. So how do you, you know what's the perfect lead sequence for someone that comes into your world? Then there's the just the scripts and dialogues that lead conversion process. What do you say on the phone or in conversation to get someone to take action to meet with you. And then the actual consultation framework and process where you have a step by step process to meet with a buyer and get them to say yes to doing business with you. You have a process step by step to meet with sellers and more often than not get them to say yes to where you're working with you at your commission structure, you know, at your asking price or initial asking price for the property. So when you think about where you are with your ability to convert leads, to know when a new video drops. At real estate business school we have a very specific model and framework that we follow with our members and it's how we think about our businesses. It's a strategic look into our businesses. You know, we break a business down into four key drivers and each of those drivers has three accelerators. And I'm going to break this down for you very slowly. I want you to think about as I'm going through these drivers and accelerators, you know, how you're thinking about your business. And to start off this video, I challenge you like to think about your business as if you were going to replicate it 10,000 times. That's the only thing I did differently in the early part of my journey. You know, in 2008, that was my first full year in real estate. I sold 44 homes. That was like top percent of a percent. Like instantly I was selling more homes than 99.9% of agents in my market. And I wasn't gonna stay there because my life was miserable. I had a one year old at the time. I was only two years into my marriage and I had no time to enjoy anything outside of work. And I wasn't even enjoying work. And I didn't have this clear roadmap at the time. I certainly didn't have what we have today in real estate B school with these very clear drivers, these accelerators, and the tools and systems that allow you to scale your business without scaling your hours. So let's go through the drivers one by one, and when you think of at least the first three, you know, a traditionally successful real estate agent, they put themselves in each one of these drivers. So it's attract, convert and deliver. So your ability to attract high quality buyer and seller leads, to convert those leads into face to face consultations and then into loyal clients, and then to deliver on the promises you made in the sales process. I'm gonna break it down for you. Attract. There's three elements. It's database marketing, listing marketing, and buyer marketing. Are you generating high quality leads without having to pay someone else to be a better marketer than you? That is like my biggest pet peeve. The thing I am like I'll soapbox on and rant about all day long is paying Zillow for leads does not make you a marketer. There's nothing involved in doing that. I was on a panel here locally in Charlotte and this guy will know who he is. As I'm telling this story, I was sitting next to a guy that I heard was like the king of Internet lead generation. And I found out later that he was spending $75,000 a month paying for leads with Zillow. At the time, this was probably seven, eight years ago, I was spending $5,000 a month on Zillow. And I already knew that that was like I'd never done cocaine. But I would imagine that if the addiction I had to those leads just coming in, if I let that go, 75 grand a month is a full out addiction to paid lead sources. And when I find that out, I just lost a lot of respect for the guy. Turns out that his business, he was just completely a slave to Zillow. And I knew I didn't want to have a business like that, even if it meant I didn't have the biggest numbers in terms of gci. I knew that I wanted a profitable business. And this individual was stuck in production. So he had this big team, big Business spending lots of money on paid lead sources. And he was stuck in the business. Thematically and predictably. Where are you one? I got nothing, right? I wing it, you know, even if you have leads coming in, you wing it. There's no sort of scripts by lead source. You're not a master of your scripts. You don't have a consultation process. You're the one doing everything to five. You're just completely dialed in with your lead management, your follow up sequences, your text sequences. The best converting emails, you know, one to five. Where do you place yourself then? The third driver is deliver. So once you've generated a lead, you have converted them to a face to face consultation, they've agreed to be a happy client of yours. How do you deliver on the promises you made in the sales process, yet you don't spin out and spend all the time servicing that client. That's the biggest thing that we see in agents that fail to scale is that they are constantly delivering the thing that they promised in sales and delivering as a real estate agent is showing houses, writing contracts, getting a listing to be active on the market. Those things are super important. So they're mission critical. And I'm not going to minimize them because I don't want to piss you off. Yet in my market, I'm In a top 20 metro market in the country in Charlotte, North Carolina, we can hire high quality administrators for 12, 13 on the lower end in terms of some lower level tasks on our team to $20 an hour somewhere in that range. And they're world class at delivering on the promises that we made in sales. So getting a listing on the market, calling the seller, letting them know how the process is going to look, giving them feedback on showings, you know, talking to them about, you know, price improvements if their market isn't reacting favorably to their home. Same thing with closing coordination. You know, that's an administrative position. Mission critical, yet administrative in nature and compensation. And so how would you reimagine the. Oh, and I didn't even get into showings. Right. Are you the only one that can show homes to your buyer? Clients really think about it, are the only one that can choose listings. You know, go drive to a listing, open the door, be friendly, point out the features, talk to them about if it's a fit or not a fit. Right. Don't overthink this. You're not that important. And I say that because I had that realization. I thought I was that important in the early stages of my business growth until I did 58 transactions in a year. And I lost my mind and I went sort of away from being close to my wife and spending time with my son at the time, Anders, who was like 1 years old. Right. We don't want you to hit the point in your business journey where your business takes over your personal life. All right? So attract, convert, deliver. There's a fourth driver. It's called scale. The only shot you have at scaling your business is if you set up a track convert and deliver to run without you to run systematically. And I pretty much went through all the elements. Attract is listing, marketing, buyer marketing, database marketing. You have leads coming in that you're not paying someone else to generate. Convert your lead management, lead, follow up. Right, the appointment process, the scripts and dialogues, the consultation framework, how you sit down with a buyer and sit down with a seller. We do virtual consultations now and that's a game changer. Like I said, I can be in five different listing presentations going on literally at the same time and I have no time in it. And then we talk about deliver. That's transaction coordination, that's client servicing. And also the critical technology tools in your business that give you leverage. Setting those three up in the right way allow you to scale your business, which is all about planning, right? Three year vision, one year plan, 90 Day World. It's all about knowing your numbers, becoming the CFO of your business, generating enough income to to really put you on a trajectory with your wealth that has you financially free as a result of the work you're putting into your business. And then last but not least, is growing your team. Right? What's the process to establish a culture, a cadence, bring on the right fit team members and have them achieve at a high level and achieve their dreams within the business that you've created so they can live a life by design. They can have time, freedom, money, freedom, and freedom from stress. So if you're the point in your journey where you know I offered up this guide before, just go to realestatebusinessgrowth.com that's realestatebusinessgrowth.com I'm going to lay out the six stages of growth of a real estate business and how you can replicate it in your business. If you liked the video, give me the thumbs up. Make sure you subscribe to the channel and turn on your notifications. Tap that little bell so you're notified as soon as a video hits. And I'll always say it that this is not necessarily the easiest path. I would argue that the path of building a business allows you to just get into a new growth mode and look at your business differently. And at the end, the chance that you'll have regrets are way less than if you just grind out transaction and become that person in their 60s where they don't have financial freedom and all you can do is go out and sell another home. And that's not what I want for you. We'll see you on the next video.