30 Dec 2016 — The Year You Launch Your Own Brokerage
Autonomy, Freedom, Money, and Equity
When you work for a big brokerage, you give away your autonomy, freedom, income and equity. You create value for Remax, Royal Lepage, Sutton Group, Century21, Sothebys, Home Life or the new kid, Engel & Volkers. How about hanging onto that equity?
I’ve known a few very successful people and what they all had in common was initiative. They didn’t sit around, coast, let opportunities pass, or let less important things get in the way. They always had their mind geared for the business they were passionate about building. They weren’t smarter. They seemed to have this vision of where they belonged and they were compelled to follow that path.
A guy I went to high school with was in the news today. His US/Canada company is valuated at a Billion dollars and it’s growing. He had that leadership quality and now all these decades later, it’s apparent he had to be at the helm of a successful firm.
Entrepreneurial leaders have faith and clarity in the sense that they knew something great was going to happen — the journey and the destination. It’s that expectation that’s made them resilient and creative to navigate their way through to success. Richard Branson, Larry Page, and Elon Musk are a few entrepreneurs who have very positive expectations. Do they have regrets?
Here’s what they really want: Freedom, Autonomy, Money, Self-respect, and to make other people happy. They’ve given themselves the licence and freedom to create their ideal, emotionally fulfilling lifestyle.
Smart Long Term Decisions
Out of millions of realtors, mortgage and insurance agents and other professionals, only a select, special few will launch their own company. The rewards are intense. Realtors such as Darryl King, Merrily Hackett, Barbara Corcoran, and Sam McDadi started off humbly and they’re doing phenomenally well. Merrily’s brokerage Sutton West Coast Realty did $22 billion in sales last year.
What About the Complexity?
Launching your brokerage rids you of your broker split, office and desk fees and gives you more funds for marketing. If you fear the paperwork and compliance tasks, you can outsource to a company such as Realty Point. They could rid you of administration tasks. And when you incorporate, you can defer income to tide you through low sales years. It’s just plain smart.
Do you Need to Start Now?
If you’re of the opinion that you should build this dream incrementally (coasting) you probably won’t have the momentum and power to get there. You can’t coast uphill. It’s wiser to start with the intent of building your realty or insurance brokerage sooner, especially during peak sales years. This intensity gets you focused to create an advantage. If you have good confidence you might even choose hypergrowth strategies to get a smart jump.
How Will You Stay Competitive?
If you’re going to be competitive and build significant revenue, you’ll want to leverage the best tools, strategies and talent. There are plenty of agents who actually need to work under your wing. All you need is a system to generate leads and convert those leads. That’s where I come in. If you and your team have a good attitude and pleasant interpersonal and business skills, clients will gravitate to you.
Clarify your process:
- create a marketing plan that specifies the source, reach and capture of leads
- use a digital marketing strategy that leverages all digital channels
- use a prospecting strategy that quickly discovers good leads
- maximize your leads with wide exposure on the Internet and local media
- increase your conversions by clarifying your UVP to prospects
- build your unique value proposition even further
- decide on your brokerage business model
- bring on one realtor who believes in what you’re doing and can help you build the correct business model
- use social media to engage all your connections and build that word of mouth network
- test, reiterate tactics, until your lead generation machine is purring like a kitten
I’d be delighted to help you design and manage your complete digital marketing campaign. You’ll get incomparable value and avoid making beginners mistakes.
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