From Hunting Deals to Hunting Relationships: Lessons Learned From Expansion w/Andy Kueny
After opening several traditional expansion locations in 2016 with varying degrees of success, Andy shares his takeaways on behavior profiles, getting agents to take action and the difference between hunting for business and hunting for relationships.
We want to foster the kind of group environment where [our expansion agents] get 15 ideas from 15 team leaders around the country. - Andy Kueny
Takeaways + Tactics
When it comes to expansion, the lure of price point can be very attractive, but talent trumps everything.
You can’t feed people with a fire hose. The information will get set aside and never acted on.
Top agents are often “hunters,” and they find the transition to “farmer” very difficult when expanding their teams.
Resources & Links:
Expansion– Learn how you can partner with Elite Real Estate Systems – get lead generation, coaching, support, training and access to a culture of success - all without leaving your current broker.
Team Building Workshop – Spend the day observing these systems in person, including board meetings, Monday Team Meeting, agent one-on-one meetings. Also includes hours of private consulting to create your own custom roadmap to build and exit your real estate team.
Tools & Services – See all the tools, professional services and companies we use and recommends to help build your real estate team.
We start with the difference between the traditional expansion model of opening a team under your brand name, versus our Flat Rate Expansion model we opened in 2017. Both still provide a CRM but don’t take a % of the agents commissions, giving them 100% of the upside of their success.
We also touched on the pros and cons of throwing a lot of high-level information, systems and strategies at your expansion agents. You might be surprised to find that you need to strip things down to the core essentials and break bigger strategies down into concrete, actionable steps to see real progress.
Andy also shared:
Whether Jeff Cohn is a ‘hunter’ or a ‘farmer’
The difference between coaching people in person vs video conference
The ‘chameleon’ ability to switch between hunter and farmer based on the situation
How to connect expansion agents with each other and encourage masterminds and info-sharing among them
Andy focuses on fostering a community with our expansion agents so everyone gets the benefits of specialized information, on top of learning what’s working for our flagship office. Bottom line, what’s working for us is focusing on talent first, then providing strategic, bite-sized content backed up with guided masterminds and accountability to help agents make the transition from hunting deals to hunting relationships.