Hey, brokerage owners & team leaders. Quick question:
What's the number one reason why somebody will join your firm as opposed to all the other firms in the marketplace?
If your first inclination is to say, "It's because we have the best commission plan," you've already lost.
If your whole strategy is based on what you're offering in terms of commissions to agents, you're going to lose because somebody is going to come in right behind you and offer an even lower commission split.
So commission-split warfare is a straight path to going absolutely broke.
This business is not about what agents really want.
If you look at the marketplace landscape in your market right now, I guarantee you the number one offices are not the cheapest offices.
You know who the number one offices are?
It's those offices that are showing agents a path to a higher transaction count (and this is the biggest thing you should focus on).
They're giving them a way to increase the number of transactions they'...
As a real estate broker or team leader, there’s one thing that might be holding you back from growing your team: distractions. Whether you realize it or not, your main job as a team leader or brokerage owner is to recruit experienced agents every single day.
If you’re not recruiting, you’re not bringing in new "customers." And here’s the shift: when you transitioned from being a superstar agent, closing millions in sales to leading a team or brokerage, your focus changed. You’re no longer selling real estate to buyers and sellers. Your agents are now your customers, and the more agents you have on your team or in your office, the more profit you bring home.
Here’s the catch: as soon as you stop recruiting, you cap your ability to earn. Unlike being an agent, where sales directly increase your income, being a team leader requires constant recruitment to grow.
Your ultimate goal should be getting out of production entirely. And there’s only one way to do that—recruiting experienced ag...
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