How to Continue to GROW Your Real Estate Business

A few days ago, I was talking with one of my agents who is at a place in her business where she feels like she has kind of hit a plateau around year three of her business. It was a great opportunity for me to share some tips with her on things we've seen before when agents do tend to hit sort of that 3 to fouryear plateau. Hey, my name is Chance Brown. I'm the broker owner of CB&A Realtors and I make video content because I'm passionate about helping agents build great businesses. I'm talking to this agent. She's three or four years into this business. she's starting to hit a plateau. And it's not something that's overly unusual in real estate. And what tends to happen is you come in and you're not making any money like everybody else that starts out. And you get a few transactions under your belt and then the second year you do even a little bit better. And around the end of year three, maybe halfway through year four, you kind of start to hit this, okay, I've done this and now I'm just sort of here. And one of the main reasons that we see that happening is because we've exhausted our sphere of influence. We've talked to everybody in our top 50. We've talked to everybody in our database. Nobody in that that group is buying or selling a home. And the only people that we've added to that database if they weren't already in it are the referrals that we've gotten from that database over the last 3 years. And we've already helped them buy or sell real estate. So unless something changes in their life, we're not going to be helping them again. And we've got to rely on them to give us referrals. What we've got to consistently do to make sure that we don't hit a plateau is to continue adding people to that database.

And that can look like a number of things. It can look like buying leads. It can look like going out and joining organizations or just meeting people through things you do on a daily basis like maybe with your kids or your family or your church or something like that. It can be very strategic about adding a farm or something like that as part of your marketing. But we've got to continuously be adding to the database in order for that database to produce more business that gets us past that initial plateau of, hey, here's what I've got starting out. Let's talk a little bit about what that might look like. You can buy leads. There are tons of places to do it. Every time you turn around, you're getting an email from somebody that wants to give you a lead. Whether you're paying for them up front or paying for them at closing, great. I've done a video in the past where I talk about that's the price of admission. If I have to pay 30% at closing to get this lead, awesome. as long as I turn that lead into five or six more transactions because I've done a great job and I've asked for the referral. You can do things through organization. I talk to agents a lot about this and one of the things that I try to get them to do is go join organizations that are around the things that you like to do. If you're political, go join a political group. If you're a reader, go join a book club. If you're an athlete, go join something in a in the fitness world, whatever that is. Because when you're doing things that you like to do, you build commonality with the people around you and you create friendships. And if this is one thing we know, it's a relationship business. So look for opportunities to do the things that you already like doing just with strangers.

There's strategic marketing things, being parts of groups that are in your community, working through ways with your kids sports or your church group or whatever that looks like. But you have to be active and you have to be out amongst people and talking to people in order to grow that base. And that is how utilizing one of those or all of those or a few of those, whatever works best for you, how you kind of overcome that plateau that a lot of agents hit it 3 years. Because if you don't, what ends up happening is you just kind of get stuck at a certain level and you don't ever see your business grow. And we want to make sure that if that's your goal to grow your business, that we're taking the steps in the right direction for that. If you found that helpful, please give me a like or a follow. If you have any questions, come on, ask me. I'm here to help.