BIG Profits in BIG Brokerage: Growing and Scaling Your Business with Ancillary Service Providers w/Keith Myers
One of the major ways real estate teams have been able to make more money is by building relationships with industry-related businesses and institutions. How do we approach potential partners and make them want to work with us? What can we do to get the most value out of the relationship on both sides? On this episode, Club Wealth Tier 4 Member and Broker/Owner, Keith Myers shares on how his team has remained successful and profitable, doing $1.5 BILLION in volume, and bringing in an additional $1.5 MILLION in additional revenue from ancillary services and his real estate team!
It’s getting harder to make a profit selling real estate, so we’ve got to get more creative about how we do that. Relationships with ancillary service providers are one of the ways to do that. -Michael Hellickson
Three Things We Learned From This Episode
Why success with ancillary services starts with our primary business
The success of our primary business is what leads to the success of our ancillary services. So we need to drive traffic to our main business, because it makes everything else more profitable and valuable.
How to make ancillary service providers want to work with us
In order to partner up with ancillary services successfully, we have to give them value. We cannot expect them to want to do business with us, and help pay some of our costs if we don’t give something first.
The value of including ancillary partners in our daily business activities
It’s important that we get our ancillary partners involved in our business, because it strengthens our relationship with them. We also have to want them to win and succeed in every aspect of the business, and if we care about their success they’ll want to be a stronger part of our business.
With more disruption to our industry comes the shrinking of our profit margins, and in order to remain successful we have to come up with new strategies. Ancillary services are extremely effective in growing our profits and keeping our teams running at the highest level. In order to successfully implement a plan that includes these services, we have to give to get, create a symbiotic relationship, and make the partners feel like a key part of the team.
Keith is the Broker/Owner at RE/MAX Olson Companies, and a Tier 4 Club Wealth Member. Connect with him on LinkedIn https://www.linkedin.com/in/keith-myers-68807b12/ or email Kmyers@olsonmax.com.
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