Building a Profitable Real Estate Team in 2024

In this episode of the HyperFast Agent Show, Dan Lesniak guides listeners through five essential steps for building a profitable real estate team in 2024. The first step is scaling personal production by hiring support staff to handle time-consuming tasks, allowing the lead agent to focus on high-value activities. Next, he talks about theimportance of bringing on buyer's agents and leveraging listings. The third step highlighted is the benefits of building with variable costs to remain flexible and adaptable. Dan then discusses a critical fourth point, using data-driven decision-making rather than relying on emotions or ego. Lastly, Dan discusses the importance of choosing the right platform to minimize costs and maximize long-term, with a particular focus on the advantages of joining eXp Realty. By following these updated strategies, agents can build a more efficient and profitable team in the current real estate landscape.

 

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Join Dan as he discusses: 

 

- **Scaling Personal Production Before Hiring Agents**: Emphasize the importance of hiring administrative support and inside sales agents to handle time-consuming tasks, allowing the lead agent to focus on high-value activities and increase their personal production before expanding the team.

 

- **Building with Variable Costs**: Discuss the benefits of minimizing fixed costs by utilizing virtual assistants, third-party services, and avoiding long-term leases and contracts, enabling the team to remain flexible and adaptable to market changes.

 

- **Leveraging Data-Driven Decision Making**: Highlight the necessity of using data to make informed decisions about lead sources, marketing strategies, and overall team performance, rather than relying on emotions or vanity metrics, to ensure long-term profitability and success.

Notable Quote

 

"To build a profitable real estate team, focus on scaling your personal production first, using data-driven strategies, and minimizing costs through flexible, variable expenses." Dan Lesniak

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