B-SCHOOL COACHING CALL: Overcoming Your Fear of Stepping Out of Production

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Transcript:

For some of you that have - for lack of a better way to say it - a control issue, it is a scary step. You hear the horror stories of stepping out of production, of what could go wrong, and what could happen if you do it too early. Those are all valid.

But once you've got this thing built out in a way where the first thing you do is you leverage yourself with an admin. Next, well you're still in production. Next you surround yourself with a couple probably younger, aggressive, hungry agents that are looking to you to lead by example. So you're not exiting anything at this point, you're just showing them how you do it.

Leveraging Yourself

That first phase, it's you selling 50-60 homes a year and just crushing it. But you're showing those 2-3 agents how to do it, and you're shoulder to shoulder with them. It's less like you're thinking about exiting as much as, "Let me show you how to do this. You're gonna be selling 3-4 homes a month if you do it this way. It will be systematic. Your year 1 will look like this, year 2, year 3."

Then it's you stepping out of buyers 100%, which is a huge opportunity for your team. Then it's you mastering the listing side and ultimately building that out as a system so you can step out of it.

Once you get to the $350K to $400K GCI range on listings with you as the main listing agent is when you can look to replace yourself. Because at that point you can basically pay out 25% of that business. As long as it's a system where you're the surgeon in that system, you can replace yourself pretty easily. That's an attractive position for a lot of people.

'You're Not That Important'

The bottom line, my pastor did a sermon where the name of the sermon was "You're Not That Important." That's the reality of it. All of our business is done in my name. Our MLS doesn't allow it on the buy side, but the customer experience, everybody knows they're dealing with The Lars Group. But you don't have to do all of it.

Most of you came to me with, "I am ready to get the heck out of real estate." So I know I'm preaching to the choir here. Margins, conversions are critical. Obviously, when you're looking to get out of production, you have to know your numbers.