The journey starts the same way it often does;
A dead-end job.
Possibly getting the sack.
The feeling of desperation doesn’t help.
Unproven, therefore unbridled ambition.
Take your pick.
Whatever the catalyst, every starry eyed, ambitious people-person that went through the loopholes and red-tape of becoming a licensed Realtor, finds himself in his cushy new chair, in his contemporary new workspace, burdened with the existential conundrum of;
Umm, what now?
This new Realtor can tell you every kind of roofing structure in his neighborhood, but the only roof he cares about is the one over his family’s head.
In his sleep, he can tell you exactly how to calculate monthly payments on a $300,000 mortgage, paying 6% over 25 years on a 5 year fixed term. But it’s his own mortgage that keeps him up at night.
And in the early hours of the morning, even before the sun has emerged, the house is still, and his dearly beloved slumbers on. Yet while he enjoys his final moments of naivety about the tedious obstacles the day will bring, he asks the universe;
Why is Being a Realtor So Damn Hard?
Here Are 3 Industry Problems That Leave Realtors Feeling Lost
Problem 1: They Learn Real Estate, Not How To Be A Realtor.
Why aren’t Realtors being taught how to have a successful career in Real Estate? It truly boggles my mind.
The amount of Realtors who will live and die by the amount of doors they can knock on in a day never ceases to amaze me.
What happened to the romance of finding a lovely family their forever home?
Instead of spending their time helping people, Realtors spend their time filling quotas.
But what can you expect when Realtors learn EVERYTHING about Real Estate, but NOTHING about being a Realtor?
By a mile, the most common bottleneck I find whenever I talk to Realtors is their inability to “generate leads”. And the ones that can find leads are helpless when it comes to nurturing them until they become clients.
Yes, learning the industry is imperative. But isn’t learning the business, too?
Problem 2: Why WOULD A Realtor Trust Anyone?
Realtors are so used to getting the short end of the stick, that they are reluctant to invest.
When I started, I tried to help people who I believe wanted (and needed) to be helped.
Yet I spent more time differentiating myself from the pack of unqualified salespeople trying to manipulate the vulnerable (under the guise of friendly assistance).
I found it strenuous helping people that were so reluctant to accept it. I thought, “surely there’s a better way?” (Spoiler Alert: There Is!)
Realtors often find themselves stuck in a positive feedback loop (strange use of the word positive here), where they feel unfulfilled and as though they are underachieving, therefore lethargic. But that lethargy feeds into their lack of fulfillment and underachieving.
With marketers being so conversationally savvy and so cunning in their self-interest, it seems impossible to find someone who is BOTH qualified and personally invested in their continued success.
Talk about a vicious cycle!
Problem 3: Brokerages Are Ignored, and Realtors are Inundated
Brokers of Record typically have a long track record of personal success, an acute business acumen and a sincere desire to help people (clients or brokers).
They intimately understand the challenges facing their agents, they’re personally invested in the success of their brokers and sales representatives, and they can smell bull-shit from a mile away.
My kinda people.
The brokerage is desperate for its agents to succeed and to feel accomplished. Meanwhile, the agents are hungry for the support and resources they need to change the trajectory of their own careers.
If this is the case, then why aren’t marketers going straight to the brokerages??
Here’s why: Turns out, brokerages are better at looking past the sales techniques, and focusing on the service.
A brokerage is a tough sell for someone without a proven system. But with a proven product, it sells itself.
How I Structured My Agency:
My brokerage system is the exact system I use when I advertise for individual agents (usually top-performers), but built to scale (and with a couple of shiny new features).
My idea is simple; I’ll take care of generating highly qualified appointments for the entire brokerage, so the agents can spend their time doing the job they actually signed up for.
This shared narrative (between the brokerage and its agents) is now my recipe for success which has worked absolute wonders for brokerages and agents alike.
The agents know that my system has the buy-in and support of their brokerage, so the thought of investing in a program that already had the endorsement of their brokerage is a no-brainer.
In reverse, the brokerages were immediately revitalized and inspired by the collaboration and newfound tenacity and ambition of their agents.
This model enabled me to pair the ambitions of the Agents with the goals of the brokerage. That way, the agents take their careers to another level, and the brokerages really start to scale.
The most important quality in business is the ability to listen. Whether it’s on my podcast (The Real Marketer), or when I’m developing my products, I let someone else’s story lead the way.
I think the biggest challenge with running a Real Estate Ad Agency is the ability to truly listen to the market, and work backwards from there. The biggest mistake that Agency owners make is that they think of the services they would like to offer, and try to manipulate it to suit their clientele.
But I believe that a successful agency should work backwards from the clientele, as opposed to forwards from the marketer.
The clientele has to be the starting point.
For me, the most important thing is listening to the market.
How Borr Digital will expand from here, only time will tell. All I know is, my products will continue to improve as long as the market continues to talk.
Because I will continue to listen.