business224
Contributor
User Power
Value/Post Ratio
76%
- Jan 26, 2016
- 29
- 22
- 31
I found mild success and yet still feel I have failed.
Over the last 8 years I have spent my time establishing myself as a successful Realtor. 3 years into this journey I came to the conclusion that if I did not start to hire agents I would be stuck self employed forever. Only as good as my next sale.
This new business team model came with some success and some challenges but most of all I learned how hard it was to operate a human resource system with 1099 independent contractors. Finding committed talent for a Real estate team can be hard!
The key to this business is lead gen, recruiting, training and retention. With that said 87% of agents fail in the 1st 2 years so sometimes I feel like I’m building a business on quicksand. 1 step forward and 2 steps back.
While we are at 8 agents it’s not as lucrative as I had wished and I really dislike running around with clients myself anymore. At this point I am considering my options and would love feedback.
Option 1- Make a change and get into the mortgage business. There are far less loan officers and my sales background would help my transition into this somewhat smoothly. On top of that I wouldn’t be running around on nights and weekends with clients. This seems to be a bit more scaleable in comparison to real estate sales and possibly more lucrative while still working on my online business.
Option 2- Stick it out with real estate sales, try to find more agents to grow and focus on building my online business ( I started 3 years ago) it’s a podcast for realtors that makes money through ad revenue and affiliates. Currently doing a couple thousand per month (Not much at all, but it’s showing signs of life) . I have been researching monetization models such as courses and membership sites to add value and increase revenue to the business.
Option 3- Keep the team, try the mortgage route and continue to try to build the online business.
I’m now 30. I am successful to my piers in my industry yet I don’t feel like it at all. I started at 22 and I’m still nowhere near my personal goals. What road should I take to get to my fastlane goals? What is the best business vehicle?
Over the last 8 years I have spent my time establishing myself as a successful Realtor. 3 years into this journey I came to the conclusion that if I did not start to hire agents I would be stuck self employed forever. Only as good as my next sale.
This new business team model came with some success and some challenges but most of all I learned how hard it was to operate a human resource system with 1099 independent contractors. Finding committed talent for a Real estate team can be hard!
The key to this business is lead gen, recruiting, training and retention. With that said 87% of agents fail in the 1st 2 years so sometimes I feel like I’m building a business on quicksand. 1 step forward and 2 steps back.
While we are at 8 agents it’s not as lucrative as I had wished and I really dislike running around with clients myself anymore. At this point I am considering my options and would love feedback.
Option 1- Make a change and get into the mortgage business. There are far less loan officers and my sales background would help my transition into this somewhat smoothly. On top of that I wouldn’t be running around on nights and weekends with clients. This seems to be a bit more scaleable in comparison to real estate sales and possibly more lucrative while still working on my online business.
Option 2- Stick it out with real estate sales, try to find more agents to grow and focus on building my online business ( I started 3 years ago) it’s a podcast for realtors that makes money through ad revenue and affiliates. Currently doing a couple thousand per month (Not much at all, but it’s showing signs of life) . I have been researching monetization models such as courses and membership sites to add value and increase revenue to the business.
Option 3- Keep the team, try the mortgage route and continue to try to build the online business.
I’m now 30. I am successful to my piers in my industry yet I don’t feel like it at all. I started at 22 and I’m still nowhere near my personal goals. What road should I take to get to my fastlane goals? What is the best business vehicle?
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