Here's What's Holding You Back from Being a Billion Dollar Agent

Last week we were imagining that you were being interviewed by a Billion Dollar Agent for a job running part of their business. We wanted to know what is your unique talent? What are you the best at doing? Here are a few possible areas:

      ·         Client Marketing

      ·         Expired Marketing

      ·         FSBO Marketing

      ·         Buyer Open House

·         Buyer Web Leads

·         Buyer Sign Calls

·         Investors

·         First-time Home Buyers

·         Farm Marketing

·         Luxury Marketing

·         Calling of Leads

·         Sales Management of Buyer’s Agents

·         Systems

·         Marketing Lead Generation Systems

·         Financials to maximize Net Profit

I am sure you can think of a few more. Ask your fellow BDA Agents. Ask your peer agents in your city. Ask your staff. See what other people say. Narrow your list to three choices. Write a paragraph about each of your talents. Zoom in on which you think is the most powerful.

Here is the important part. How many hours per week do you currently spend on that unique talent? During your work week, how many hours do you spend using or improving that unique talent? My guess is that it is only two to ten hours per week. What would happen if you spent 50 percent of your time using that unique talent? Which three profit pillars of your business are weak or missing?

Every business has a mix of revenue and profit pillars. We want you to focus on the profit pillars with the highest profit margins. For example, a client/SOI seller lead is more profitable than a buyer web lead for a typical team.

What core parts of your business could be improved dramatically with the proper focus and unique talents? Estimate your current GCI per year and the possible GCI per year. What is the gap? Which revenue pillars are totally missing and which ones have the most potential? For example, maybe you used to work expireds in your early years, you were successful, but now you are not working expireds. Maybe you know that farm marketing would be useful, but you have not gotten that going. Perhaps you know that many Billion Dollar Agents are closing $100,000 to $200,000 in GCI per year from buyer web business. You never started that revenue pillar and you still get only 50 leads per month from buyer web leads. What is the potential GCI of these missing revenue pillars?

Review the list of weak or missing revenue pillars and narrow it down to the top three based on the potential revenue upside. Do not analyze the pillars by whether you have the time or skill to implement them. We will help you focus on your unique talent and delegate everything else.

You now have an idea of what is holding you back from $10M or 1,000 deals. You analyzed the total market size to see what is possible in a few years. You identified your unique talent and calculated how many hours per week you could spend using that unique talent. Most importantly, you are focused on the three revenue pillars you need and to move towards your Billion Dollar Agent Goal. Share that BDAG with me and your fellow Billion Dollar Agents. I will help you make it happen.

Like this blog? Do us a favor and “like” us on Facebook. Would you like help identifying ways you can improve your Marketing Strategy? Reply to this blog and we can get started. For more information on how Best Agent Business can help you streamline your marketing, time management and many other aspects of your Real Estate Business, subscribe to our videos, visit us at www.bestagentbusiness.com, call (202) 297-2393, or e-mail us at: sales@bestagentbusiness.com.

 

 

 

 

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Comment balloon 3 commentsSteve Kantor • December 10 2013 07:19AM

Comments

Interesting thoughts. Think I will spend a little time and see what I come up with.

Posted by Bill Reddington, Destin Florida Real Estate (Re/max Southern Realty) about 5 years ago

Hi Steve...most agents want to do everything, I think we don't want to admit we don't know how to do something. In today's market we need to specialize our experience as well as work a Niche.

Merry Christmas Steve

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 5 years ago

Bill, run the numbers, then call me if you want. We'll see what we can come up with! You too, Fred, and Merry Christmas!

Posted by Steve Kantor, Best Agent Business - Virtual Assistance (BEST AGENT BUSINESS) about 5 years ago

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