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Do I Stay Or Do I Grow?

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As the top Zillow-recommended agent in Utah, Robynn believes that buyers and sellers have a more positive experience with the power of a team behind them. She has held various agent roles, including buyer-specific, individual, partner and now team leader, and offers unique insights about her decision to form a team.

Published in: Real Estate
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Do I Stay Or Do I Grow?

  1. 1. #PremierAgentForum#PremierAgentForum DO I STAY OR DO I GROW Robynn Eccles, The Eccles Group, Coldwell Banker
  2. 2. #PremierAgentForum Meet our presenter ROBYNN ECCLES Premier Agent
  3. 3. #PremierAgentForum My story “I’m lost.” “I’m ready.” “I need support!” Start career as an independent agent “I will train you!” Join a dynamic team as a buyer’s agent Hire licensed agent Full partnership for six years Leave team On my own again “Do I shrink or grow?” “This is great!” Today: Managing a team of 5 “It’s not in my DNA to shrink”
  4. 4. #PremierAgentForum What does growth look like for you?
  5. 5. #PremierAgentForum Growth as a… BUYER’S AGENT INDEPENDENT AGENT TEAM LEADER
  6. 6. #PremierAgentForum Growth as a BUYER’S AGENT
  7. 7. #PremierAgentForum A strong team offers:  Lead sources  Admin services  Systems  Processes Why become (or remain) a buyer’s agent? Allowing you to… Focus on clients Sell more houses Grow your business Save time
  8. 8. #PremierAgentForum Reasons NOT to leave a team 1 Your ego Your name and picture on the door doesn’t pay the bills $ in hand $ on paper>2 Your splits 100% doesn’t account for the cost of running a business Income Ego>
  9. 9. #PremierAgentForum Growth as an INDEPENDENT AGENT
  10. 10. #PremierAgentForum Business planning for next year 1. Determine your growth goal 2. Identify your growth expense cost 3. Add together for your GCI goal 4. Identify your average commission 5. Calculate the number of houses you’ll need to sell to hit your goal Current: $100,000 | Goal: $150,000 Growth goal: 50% Current: $30,000 (+ 50% growth) Next year: $45,000 GCI goal: $195,000 Avg commission: $7,800 GCI goal ÷ Avg commission = 25 houses If you sold 16 homes last year, evaluate how you’ll sell those 9 additional homes
  11. 11. #PremierAgentForum Need to evaluate… Your bandwidth Your lead generation platforms Your conversion percentage
  12. 12. #PremierAgentForum Need to evaluate… Your bandwidth Your lead generation platforms Your conversion percentage
  13. 13. #PremierAgentForum Consider adding an admin or transaction coordinator Why? Take lower-cost activities off your plate and spend more time doing income-producing activities. Why agents hesitate to hire support: Get over it! 1 Hard to delegate Scary to commit to their salary 2 A couple of options… Unsure what to have them do 3 Define their role…
  14. 14. #PremierAgentForum Fixed schedule and salary Work on a per-file basis  Determine how many hours they must alleviate to ensure a positive ROI  They only get paid when you get paid For me: • 1 hour prospecting • 2 hours on appointments • 12 hours showing houses • 17 hours communicating, negotiating, etc. = 32 hours From converting to closing A couple salary options to consider…
  15. 15. #PremierAgentForum Delegate to your assistant all the tasks that… • You don’t like, that don’t have to be done by you • Prevent you from being your most productive • Aren’t being done because you don’t have time Defining their role…
  16. 16. #PremierAgentForum Need to evaluate… Your bandwidth Your lead generation platforms Your conversion percentage
  17. 17. #PremierAgentForum It’s time to diversify if…. 1 lead source accounts for more than 50% of your business You have fewer than 3 consistent lead sources or
  18. 18. #PremierAgentForum Need to evaluate… Your bandwidth Your lead generation platforms Your conversion percentage
  19. 19. #PremierAgentForum Increasing your conversion rate In the example we covered earlier… You closed 16 houses at a 4% conversion rate You could close nearly 25 houses at a 6% conversion rate 16 nearly 25 4% 6% Leverage your Zillow Group business consultant TIP!
  20. 20. #PremierAgentForum Growth as a TEAM LEADER
  21. 21. #PremierAgentForum Starting a team  Know your why: The right team model varies based on your goals  Develop and define: Build systems that duplicate previous success  Model: Learn from (and copy) other successful team leaders  Get coached: It’s time to shift your mindset to being a business owner
  22. 22. #PremierAgentForum Don’t let your business happen to you  Define your goals  Make a plan  Get to work!
  23. 23. #PremierAgentForum#PremierAgentForum Click to view more presentations

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