Every expansion office is a new business and should be treated as such. Why is it so critical to expand with people you align with behaviorally? What indicators can you use to identify a good expansion partner? What are some of the key factors you need to know about a potential expansion office? On this episode, we are joined by broker, COO, coach and expansion expert Lisa Archer, to discuss lessons she’s learned from 3+ years of expansion.
"You can’t manage what you don’t measure." -Lisa Archer
Takeaways + Tactics
- There are two reasons you fall out of business with someone: you’re either no longer on the same business plan or you have a culture issue.
- Treat every expansion office like you’re starting a new business.
- Always look out for people who are willing to get educated, learn and grow.
At the start of the show, we talked about why it’s so important to find people who are like you when it comes to expansion, and Lisa shared the two reasons that lead to business partnerships breaking down. Next, we discussed how to attract the right people and the best ways to find them. Towards the end, Lisa spoke about why appointments are so important.
Lisa also shared: - Why she doesn’t like the word “recruiting” - How to enter a new market - Her “Fail Forward Friday Call”
Expanding into new territory can be complicated when people don’t have similar behavioral profiles. This can easily lead to culture issues or differing visions and plans. It becomes so much easier when you work with people who align with you. Before you enter into a new market, make sure you know the details of your own business. Every number that you track tells a story about your business, and you have to be adept at reading them. It’s also beneficial to know everything you can about the new office, nuances included.
Lisa is a licensed NC & SC Realtor and COO of Live Love Homes with Keller Williams. Currently Live Love Homes has expansion teams in multiple markets. Lisa was named as one of Inman News 100 Most Influential in Real Estate 2013 and 2014, Swanepoel Power 200 and sits in Gary Keller's top 100 Mastermind Group. Go to livelovehomes.com for more information or go to http://unbouncepages.com/book-lisa-to-speak/ to book Lisa.