What to do if your real estate brokerage is not growing

I just had a conversation with a broker friend of mine that has been in the business for over 10 years. He was expressing his frustration with his agents and his business. He said, “I just don’t know what to do. I’ve tried everything and nothing seems to work.”

I asked him what he’s tried and he said, “I’ve tried training, coaching, lead generation, marketing, recruiting, and nothing seems to work.” I asked him a simple question, “What is your goal?” He replied, “I want to grow my business.”

I then asked him, “What do you do on a daily basis to grow your business?” He replied, “I don’t know, I just try to survive.” I then asked him, “If you don’t know what you’re doing on a daily basis to grow your business, how can you expect your agents to know what to do to grow their business?”

I see this all the time with brokers. They get so caught up in the day to day activities of managing their agents and their business that they forget to focus on what really matters, growth.

If you want your agents to grow their business, you need to focus on growing your business.

Here are a few things you can do to start growing your business today:

1. Set a specific goal for your business — How much money do you want to make this year? How many transactions do you want to close? How many agents do you want to recruit? Write down your goals and review them daily.
2. Create a daily routine — What are the activities you need to do on a daily basis to achieve your goals? It could be making prospecting calls, attending networking events, or following up with potential recruits. Whatever it is, make sure it aligns with your goals and do it consistently.
3. Get an accountability partner — Find someone that will hold you accountable to your goals and your daily routine. It could be a coach, a mentor, or a trusted colleague. Share your goals and your daily routine with them and schedule regular check-ins to review your progress.
4. Invest in your own personal growth — Read books, listen to podcasts, attend seminars, and hire a coach. The more you invest in yourself, the more value you can bring to your agents and your business.
5. Take action — Nothing will happen if you don’t take action. Don’t just think about what you need to do, actually do it. Even if it’s small steps, take action every day towards your goals.

If you want your brokerage to grow, you need to focus on your own growth. By setting specific goals, creating a daily routine, getting an accountability partner, investing in your personal growth, and taking action, you can start to see the growth you desire.