Episode 005: "Chapter 5 - Now What?"

With realizing that the overhead costs and risks associated with owning my own brokerage wasn’t looking to be worth it. Not to mention the fact that I could build something for 30 years and have it be worthless in the end wasn’t something I was getting excited about any longer. Actually to be fair, not worthless, it did sell for $10.

Even though Owning my own brokerage was now off the table, I still needed to leverage my time, money, and my business.

For years I, like many agents, was stuck in a single input/single output business model. Meaning, that when I sold a home I got paid, when I didn’t sell a home I didn’t get paid. It was that simple. This contributed to the “Vacation Intimidation” I was talking about. If I was on vacation or got sick, there was no one there to work for me. I was 100% self-employed. And by that I mean I was the only employee. It was completely up to me to produce.

Then I heard a mentor of mine say this, “Brandon, would you rather spend 100% of your time, or 1% of 100 people’s time?”

Boom! Mind blown. That is when I realized I needed to find a way to get paid while I wasn’t working. How could I leverage other’s skills, time, and actions while putting them in position to succeed as well?

This was going to be much harder than following the traditional methods of those before me, I thought.

But I knew that this was what I needed to do. I needed to replace that single input/single output mentality with something more progressive. I needed to implement a single input/multiple output mentality. How could I grow a team that also carried this mindset and duplicate it themselves. Now, I wasn’t only thinking about how I can grow a team, I was thinking about how my team could grow their own teams. This would be a win win for everyone.

What I also realized in my research to start my own brokerage was that most brokers end up training their agents long enough to be able to produce on their own. After that they end up going out on their own. So in the traditional model, as a broker, you either limit the growth of your agents, or you train your agents to become quality agents, go out on their own and become your competition. But with what I discovered, you could build your agents up to be top producers, help them grow their team, and stay with you to build something together. To build something special.

This was going to be huge, but it would challenge traditional beliefs, and if there is one thing I know about the real estate industry is that it is significantly deficient when it comes to exploring new ideas and implementing change. It has a “good ‘ol boys” kind of mentality to it.

Unfortunately in the past, the real estate industry’s growth has been limited by people blindly following tradition.