Why A Solid Team Is A Necessity

16 Nov 2021 · 1 min

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1:29

Speaker recounts building a real estate team to escape the early "grind phase" of 50–60 hour weeks. After about two years they began hiring and managing buyer's agents and an assistant, temporarily reducing personal income while shifting to management. By 2016 they were running a smoother team: working ~30 hours/week, earning close to a $250,000 annual run rate, with 3–4 buyer's agents and an assistant. Despite financial success the speaker questions whether this delivered the desired lifestyle freedom.

Questions this video answers

About two years

2016

About 30 hours per week

Close to $250,000 per year

Three to four buyer's agents

Started to build the team because again I was really clear on what my goal was. It wasn't grinding away 50, 60 hours a week, which when you're a new agent, that's kind of what you have to do to build your business. And that's great. Like you should do that. I call it the grind phase. Everything has a grind phase at the beginning. Just try not to stay there. Try to get out of that as soon as possible. So I was two years in and I started a team. I probably started a little bit sooner than I should have. That first year when I started my team, I actually kind of took a step back into income because I started spending more of my time in kind of like a management role, trying to hire buyer's agents, train those buyer's agents, start buying leads through Zillow, pay per click when I had traditionally just been prospecting sellers. So I took a little step back income wise. But then the year after that, so this would have been now into 2016, then it was kind of somewhat as smooth selling as I think I could have got to running a team. I was working 30 hours a week on average, making close to a quarter million a year or right at the quarter million dollar year mark. And overall it was a good real estate business. I had three to four buyer's agents at any given time. I had an assistant and it was good. It was good. What I discovered though, again going back to my idea of having this true freedom, I a step back and looked around and was like, I'm making great money and I still don't feel like I have that much better of a lifestyle.