I am often asked what I see as the path forward for a Billion Dollar Agent company. Here is the detailed version of my answer.
Billion Dollar Agent Company (BDAC) is a public company valued at over $1B with over $1B in revenue and profit margins of 20 percent for $200,000,000 in profits in 2016. BDAC reached $1B in revenue faster than Microsoft, Amazon, and Google. Starting as a partnership consolidation of 100 plus Billion Dollar Agent Businesses (BDAB) in 2014, BDAC grew to over 500 BDAB in 2016.
Within the real estate industry, the top teams doing $1,000,000 in GCI revenue combined unique talent, systems, and the Billion Dollar Agent vision to move from an average of 20 percent profit margin to 40 percent and accelerate growth to a target 20 percent market share per BDAB. Starting as a book, Billion Dollar Agent – Lessons Learned in 2007, Phase 1 included research of 1,000 top teams and the creation of a beta test of the Best Agent Business support system of assistants and callers for 100 clients.
Over 10,000 top agents in the real estate industry read this 1,000 word vision during 2013. Of those, about 1,000 of them reached out to me, the author, Steve Kantor of Best Agent Business, to provide feedback, comments, and suggestions. Of those 1,000, there were about 100 who understood the power of the vision and started working consistently towards the creation of the Billion Dollar Agent Company.
The agents tested the concept by doing business with Best Agent Business and implementing Billion Dollar Agent systems to focus on their unique talent and improve their net profit. Many of the top coaches in the country agreed with the BDAC vision and became early investors. A core of ten Billion Dollar Agents invested in late 2013 as angel investors to build-out the platform to grow to 100 agents.
During 2014, systems expanded and BDABs grew from the initial ten to 100 with organized sharing of systems, unique talents, and platforms. The business and financial structure to combine businesses was defined and agreed upon. In 2015, the new business BDAC was created and ownership was rolled-up and combined. Growth continued in 2015 in terms of revenue growth and new BDABs to grow to 200 with average revenue of $2M. In 2016, BDAC grew to 300 with revenue of $3M and a run rate of $1B annual revenue as BDAC went public at the end of 2016.
Sound pretty far-fetched? It’s not. In my next blog I’ll show you how it can happen.
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