A Coaching Experience Hey, Coach, I want to expand my business, but I don’t want to run a team in order to do it. I have enough trouble managing one person, let alone managing people on a team. I just need to net more at the end of the year. I have admin and closing support at the office, and I’m willing to do everything else myself. These are my SMART Numbers for the year. What’s your advice?
OK, let me see if I understand your question. You enjoy being a sole practitioner, and feel you have enough support from your broker that you don’t need a personal assistant, a closing coordinator, or buyer’s agents working for you. In other words, you would rather not have to manage other people and be responsible for their income. You have analyzed your SMART Numbers for the year, and want to know what you should do more of to expand your business. Is that about right?
You’ve hit the nail on the head. I like working for myself. I like the freedom and flexibility, and I don’t see that having a team is the way to go. I prefer to keep it simple. After all, isn’t that what it means to be an independent contractor?
Yes, I see your point. There are lots of people and organizations out there touting the advantages of building a real estate team. Some of them even say it is the only way you can build your business beyond 20 or 30 closings a year without killing yourself. I am also hearing it said that the majority of agents would probably be better off on a team, at least until they master the basics of the business and learn how to get listings.
Well, I’ve been ‘Wickmanized,’ so that’s not a problem for me. I know how to list. I just feel like I’ve hit the ceiling on my time and my income. Do me a favor, please. Dive into my numbers and tell me what you see. How do I get to the next level without having to be a manager?
(30 minutes later)
Hmmm. Very interesting. Here’s what I see. The good news is that you have lots of room to expand your business.
What’s the bad news?
There is no bad news. All you really have to do is make more calls, so that you have more conversations and generate more leads. Your ratios are good. Conversations to leads, leads to appointments, appointments to listings, listings to closings – you are right there with the best of them. It’s as simple as this – make more calls.
But I don’t want to make more calls.
Then you have to buy leads. Zillow. Trulia. Agentmachine. Boldleads. Rebogateway. Realtor.com. USAA. Dave Ramsey. BoomTownROI. SmartZip. ProspectsPlus. Agent Pronto. Agent2Agent. Homes.com. There is virtually an endless list of services you can pay for that promise to generate leads for you.
But I don’t want to pay for leads.
Then you can’t expand your business.
But I want to expand my business.
Then you either have to make more calls to generate leads, or pay someone else to generate leads for you.
Those are my only two choices?
Unless you believe in the “Leads Fairy,” those are your choices as an independent contractor.
Well, I’m not going to pay for leads. That would be ludicrous. So how do I find the time to make more calls? I’m already stretched to the limit as it is.
You’re doing two 5-90-10 prospecting sessions a week now? Religiously? Consistently? No B.S.?
Then your first step is to turn ‘sort of’ into ‘absolutely.’ If your partner is letting you get away with ‘sort of,’ get a better partner. Be a better partner. Do that until you get it right and reliable. Then your next step is to add another 5-90-10 prospecting session to your SMART Week. Make it a Top 5 priority. Make it green. Move yellow stuff somewhere else. Remember the rocks and pebbles and sand analogy?
Lead generation is a rock. Be a rock star. Once you master three 5-90-10 prospecting sessions a week, add a fourth.
It sounds like you’re saying, “Take two aspirin and call me in the morning?”
You betcha. And if you have a challenge or obstacle implementing this plan, take it to your R Squared Team and Ask The Experts. Everything you need is just a phone call away.