There is Only 3 Ways To Grow Your Real Estate Business

By
Real Estate Broker/Owner with Envelope Real Estate Brokerage Inc

Contrary to all the coaching ‘guru’s out there, the real estate brokerage owners and managers, there are only 3 ways to grow a real estate business:

  1. Get more clients
  2. Increase the frequency that clients do business with you
  3. Increase the transaction size

Pretty simple isn’t it? That’s the problem, it is simple and we as human beings have a tendency to complicate things. And because of that, most jump on every ‘new’ do this, do that system, fancy this or that , new script, stand on one leg and whistle ‘Dixie’ group. You get my drift, max out your credit cards on trying all the ‘sure fire way to make a million bucks in real estate!

I am the first to admit there are basic fundamentals in being a successful real estate sales person and like gravity, it does not matter if you are in London Ontario, New York or London, England, they are the same.

I was going to list those fundamentals here but I’m not, I’m going to make you work! Yup! What do you think they are?

The first clue is this: If you are already successful, both in income and lifestyle, you already know those fundamentals. If you are not achieving the lifestyle you ‘think you desire’ ,  I bet you know why you are not achieving the success you deserve or don’t deserve!

Pretty harsh aren’t I? I see really nice, good honest men and women struggle in this business that end up leaving it, disheartened , broke , or, stay in, believing the next fad , technology tool or book will turn their business around.

In his book “Necessary  Endings”, Dr. Henry Cloud writes  about the harsh reality of ending something that is not working and moving on. That all of us have to give up under performing clients, underperforming associates, underperforming brokerages , underperforming marketing &  farming in order to move forward.

Look again at the 3 ways to grow a business, what are you doing day in, day out with those 3 ways?

Posted by

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

Comments (7)

Teresa Tedder
Carolina Realty of Wilkes Inc - Wilkesboro, NC

I agree with what you said. It was so simple yet I find that Im sitting here really thinking it over like it was new information. Having said that, I often wonder why some principal brokers keep under-performing agents in their office?  These agents are assigned floor duty because the productive agents dont want floor duty (they have enough business that they dont have to sit and take calls that come into the office).  However, the under-productive agents are the public's first impression of the company and these clients are possibly not handled in the most productive manner.  The BIC says that "someone has to be in the office to take the calls" so she keeps them.  When we have a transaction with these agents, it is obvious that they really dont even know how to handle anything remotely complicated and they drop the ball many times. What are your thoughts on that?  Do you see where the principal broker is coming from or do you feel it is simply not productive so therefore it shouldnt be?

Apr 07, 2012 11:54 PM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

step 4 close the deals and when they get shaky get proactive and persevere

Apr 08, 2012 12:08 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Hi Teresa, you have to keep in mind that quite a few real estate broker/owners are in the real estate agent business, not real estate!

Unproductive agents cause more harm, even hurt us all. Under performers cut commissions, take shortcuts, and give us all a black eye.

For a broker/owner, if he can get a monthly fee or even a commission split once or twice a year, he or she keeps that agent.

Under performers and under achievers can hurt your personal business, and to be real blunt, find a broker/owner who is in business o help you build your business and has a higher standard of yearly performance.

Ty

Apr 08, 2012 12:12 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Mark, why even tolerate a deal being shaky? Doing all your home work before accepting a client, or taking a listing or preparing an offer, nip it in the bud. Putting out fires will burn you, preventing fires in the long run is the safest & most profitable thing you can do!

Ty

Apr 08, 2012 12:15 AM
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Thank you for sharing your blog; we need Real estate Professionals to share their comments and information regarding their markets and experiences. Thanks again from beautiful Colorado

Jun 25, 2012 02:03 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

So very true and our broker keeps this wrritten on the board in the break room everyday.

Jan 06, 2013 06:57 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Thank you Joyce, I am pleased that perhaps whay I wrote can help some one in their real estate career.

Ty

Jan 07, 2013 01:51 AM