Two ways you can start moving from a solo practice to a business.
As a Realtor, how do you go from being solo to being a business owner? Starting out in real estate, most of the time we’re asking ourselves, “What comes next?” After 10, 15, or 20 transactions though, you should have a good idea of the flow and processes.
The challenge is that most agents just remember that knowledge. To have a scalable and repeatable system, though, it needs to be documented. So when you get a listing appointment, do the consultation, and send the same pre-listing package. When you enter escrow, the contract-to-close process always has the same checklist. When you close escrow, you have a post-closing checklist. If these aren’t documented and consistent, only you can do them, but if you want to run a business, you’ll need to leverage simple stuff like this to someone else.
While you’re doing all of this, the way you transition from being a solo agent to owning a business is through repeat clients. To get those repeat clients, you need to exceed their expectations and keep in touch with them over the years. You need to be top of mind if they ever need to buy or sell again.
The National Association of Realtors says that 86% of customers would love to use the same agent they used last time, but only 11% do because the agent had fallen out of touch. It’s a simple piece of advice to start building a business. I bet you’ve reached out to clients after a couple of years and either the mail is undeliverable or they got back to you and said, “Gosh, we moved to Arizona a year ago.” This happens because we don’t stay in touch enough. The goal is to document your systems and keep in touch with clients so that nothing falls through the cracks.
Hopefully, this was helpful, and if you want me to make a video about a specific topic, please let me know. We have training sessions that you can attend if you want, just reach out to me about it and I’ll send you an invite. More importantly, if you want to have a discovery conversation about your business, give me a call, and we can set one up free of charge.
