[#50] Ideas for Scaling and Expanding In Real Estate with Lisa Archer

[#50] Ideas for Scaling and Expanding In Real Estate with Lisa Archer


Welcome to the Hyperloop fat show where we believe unlimited growth in business and life is created by surrounding yourself with people who have been where you are going. learning from others allows you to compress time and grow hyper fast. And now here are your hosts Harry show, Dan Lesniak, Carrie and Dan are real estate developers best selling authors, billion dollar agents and million dollar agent makers. Now get ready to grow hyper fast. Welcome to the hyper fast agent podcast, I am here with Lisa Archer, I’m so excited to have her she has scaled multiple locations for her team. She’s the chief opportunity officer. And I’m excited to pick her brain today about how she’s scaled what she’s up to, and her vision for the future. So Lisa, share with us a little bit you’re in quite a few different markets now. Right? So talk to us about how that happened and kind of the evolution of that person. Well, so how it really happened was that we’ve had, we had agents on our team that were either moving somewhere, expansion had become this, you know, buzzword, and it was lots of, you know, lots of training, I went to the first ever expansion training, and then I’ve gone I think nine or 10, more times, you know, one of the things that I totally believe in is that if you’re not in training at least one or two days a month, you’re not growing, and you’re going to go backwards. So I surround myself with amazing people who are doing amazing things, and I try to implement. And I say try, like there’s certain things they just won’t work and some of our markets. Yeah, so there is a tri factor in some places. or as we like to call it Testing, testing, just to see if it works. And then just surround myself with great people. So one of the things that really started it was we had an agent that was moving to another location, and we didn’t want to get out of business with her and liked her. Absolutely, absolutely. And shoot, she’s she wrote a great business. And we know, we we knew that our systems and models would scale to where she was moving. So when she moved we we started an expansion location, and it worked out really well. was the first location that you expanded to? Well, technically, it was a little bit more local to Charlotte, because that’s where our hub is ok, you know, basically talk about our hub. And our instance is where my pink chair sits, like, I’ve got this pink chair in my office. And wherever the pink chair is, that’s the hub. If I ever decided to move, it would move with me. Okay. And then for us that the hub is also the systems in the models, it’s not even the people who do any of the things. It’s the systems in the models, okay, that’s what you scale. Right? Right, you get a business with great people, and you’ve got systems and models, they get to follow and tap into and implement for their own business. And so our first locations were were local. And we realized really fast. And by really fast. I mean, we didn’t realize until about six months, that those locations, were not going to be profitable for us, because the price point was way too low. Okay, I think you know, you’ve got the situation where you get a lot of referral. So we get a lot of agent referrals. And so when you’re immediately taking splits off the top, and yeah, then you’ve got challenges with a team, it’s completely different story, right, your profit margin goes really down. So we were closing, literally almost paying close properties, and a couple of markets. And that was just not going to be scalable, because we can’t just I’m glad you brought this up. Because this is actually what I see when I talked to a lot of agents that are trying to do this. They have people who move into other markets, we actually had the opportunity to expand into Richmond. And we had an agent that I adored. And I felt like oh my gosh, this could be great. And when I studied the numbers, it couldn’t work where I could also support her with leads, right? And then I felt like if I can’t support you with any leads, how am I going to help you scale and grow to a level where it’s unstoppable, right. So that’s, that’s interesting, because I think there’s a lot of people who don’t look at the numbers, they don’t study as quickly as you do. And then they end up where I can starting to expand in all these locations. And then they take a step back, and they’re losing money from their hub. Right? Okay, so you, you go down this path, and this is a great lesson for everybody to learn. You started sending the numbers, you’re like, this not going to work. Now. You got Imagine, if we’re losing money, that means the agent is working extremely hard for not a lot either, right. And I couldn’t, that was the biggest part. It wasn’t even the losing money piece, which of course, you need to treat your business as a business. Right. It’s also I have a huge heart. Our company’s called level of homes. And because I love Hartson, my buzzword is love. So I love my people. And if they’re having to work that hard to make very little money, I couldn’t sleep at night and something’s wrong, right? It’s broken. So like we had a mutual conversation, we got out of business with them. And guess what? They’re thriving. You know why? Because we taught them how to lead generate, we taught them how to opportunity generate, we taught them that every opportunity, people that they meet, in any situation, and to go to masterminds to do the training and to continuously, you know, time log, and do you have learned, and they’re doing great. And I felt like you know, there’s never any way we get out of business with that I didn’t leave in a better place and they were only met them. That’s huge. That’s a valuable lesson right there. If that’s your goal, to leave everybody better than when you met them. You’re really doing a service to the world, whether you stay in business with someone or not right, because they feel more prepared to approach their business and succeed. Absolutely. Because we’ve never gotten out of business with anyone. For there’s only two reasons you ever get out of business with somebody, one of them is culture. That’s this era parable, like you’re completely different culture match, and it has never going to work. And the other ones, you’re you’re following different business plans. Yeah. Because you can start down the road going toward that best, you know, going straight there towards that goal with that, you know, with this business plan, and if one of you goes sideways, or goes a different direction, are you ever going to meet? No, like you’re never gonna, you’re never going to hit the same goal, because you’re doing two different things. Yeah. So the only two reasons you ever really get out of business? Because, yep. Sometimes I feel there’s one other which is just their personal life events them. But that’s also part of the business plan, right? They can’t execute the business plan when they have certain things go on. And that is a distraction. So we’ve had people that we’ve said, Hey, when life changes for you, we really want to encourage you to come back. Yes, because you’re amazing. Yeah, your focus, like it’s, we’ve we’ve tried to work on it. I’ve tried to work on these things. And your focus is in here right now. And for us, we want to hold our people to a really high standard. So they have to have their mindset, right. And their focus calibrated. Absolutely. I completely agree with that. Awesome. So you evolve to the these two locations, you pull back, and then it sounds like at the same time, there were other locations where the price point did work. And you were moving forward. Yeah. So talk to us about those. Yeah. So um, and almost every opportunity that we’ve gone at and expanded in has been somewhere that I’ve taught, either in a market center or in a region or at an event like this, or whatever. It’s always they have to. Well, that’s the reason I teach. And it’s not for recruiting purposes. It’s so people can meet me. Yeah, and actually get to see all right, I am full on somewhat crazy. And you have to be able to know that you can do this on a daily basis, because I move super fast. Yeah, sure you do, too. I move super fast. And to some people who don’t move with the urgency that I have, it always feels like I’m right behind them, like pushing them. Yeah. So that’s another piece for us. We let them know up front. All right, she moves super fast. And she’s always going to feel like she’s nipping at your heels. It’s just because I want them to end. Yeah. And if they if they can do that we might have problem is is for somebody who’s going to love that and thrive in that environment. You’re a magnetic energy. Yeah. So you’re going to pull them in, and they’re going to say I want to be in business with her because I want that accountability. I want someone to push me and I want to succeed at a high level. So by actually interfacing and teaching, they’re gonna they’re going to come out of the woodwork drawn to you if they’re the right fit. That’s exactly right. Yes. So yeah. So how do you get the opportunities? Because I’m sure there’s some people out there that are going, Wow, if I could get in front of people, and I could teach like she’s doing, you know, maybe I would have the same success? Yeah. How do you decide where to question this is loaded. Two questions. How do you determine where the price point is? Right? Do you have a threshold where it has to be above this average price point to make an expansion work? Yeah. And then is that then how do you go out and get opportunities to teach in the areas that match that price point? Well, so because I’ve been in the business going on 15 years now, like I’m starting my 15th year in real estate, and I’ve done a lot of teaching, I’m a coach, I have been in, you know, every mastermind event, every conference under the sun. And I just have a lot of friends all throughout the industry. So that’s easy. That’s that that’s the easier part because I’ve been doing it so long. And I had to have that many connections. I just put it out there. So you know, whenever we’ve got, if there’s a new class that I want to teach, I’m going to go learn it, I’m going to go take it, I’m gonna take it numerous, numerous, numerous times. And then if the opportunity arises, and they say, hey, you’re in, I’m going to take that opportunity to. And the other piece of it is, you know, if you put yourself in the right place, and you have the right conversations, like I don’t necessarily, when I go to these events, I want to meet leaders, yeah, whether they’re, they’re running a big team, and I want to emulate things and learn from them. Or like leaders of market centers, or owners of market centers, or the VP of X, Y, and Z company. I know pretty much all the CEOs, not all the new ones, which means I need to go get out there and go meet some of the new ones. There’s been a lot of changes. But most of the, you know, the ones that were in the last three to five years, or Yeah, at least five years. I have all their cell phones in my phone, like I can call them and say, Hey, I’m going to be in a so until area, I’ve been invited by other brands come to their conferences to you know, report socially. So if you’re out there, and you’re offering to do these things, and always coming from contribution, things are going to happen. And I’m literally make an announcement later today that everything that I’m teaching from mid March to May end of May, I want instead of any type of speaking fee or whatever, that I’m going to donate all that money to leukemia Lymphoma Society. Oh, that’s amazing. And that happened as an opera, you know, as an opportunity. I was nominated for a woman of the year. I had woman here. Oh my gosh, yeah. And it’s amazing. Yeah, it’s good. It’s going to be so much fun. So everything I’m doing between now and may or end of May is going to go toward lls Good for you. That’s incredible. Yeah. Yeah. Pick your brain now. It’s really amazing what you’re doing. And I respect it. And I know that it’s a huge time commitment. Yeah, that’s cool. Yeah. Okay, so So then, if you were to leave some with someone with a thought, because to me, your leadership has to be completely on point to have culture resonate from multiple locations? How do you create a culture that is not only intact, because there’s people out there that are trying to create a culture in their own often, right, that’s challenging, right? How do you duplicate that culture and infuse it into all of these different locations and keep it alive? I would say, first and foremost, you’ve got to be everybody has to be on board. Whether it you know, for us because we’re with KW, that we’ve got to have the market center on board and the team leader and the OP and the region and all of that everybody’s be on the same page. And that even down to like the person who’s cutting the check. So the MCA the office, you don’t want that if your agents going into get their check. They’re saying, Oh, well, your team messed this up. Now. Call us first. Right? So we have those conversations early and often. And then we do a lot of like, we use slack. So we’re constantly in communication with our team during the day. If anybody’s got you know if they set an appointment when they add not disappointments like it when they take a listing or whatever, and I know like yours will be blowing up. We that’s that’s part of our thing we want we want everyone to high five each other from the operation side to the sale sign still do it. Yeah. So we want the automated a every signed by our agreement, every listing agreement, and you can high five people individually from that, but not as a group. But a ratification. Everybody high fives. Nice, proceed. Yep. Perfect. That’s it. And that’s a big one. And then we use zoom. So when you’re when you’re having these meetings, you really do need to see face and tone and you know inflection, because text or email doesn’t always convey that I’m really excited about it. Even if I’m putting emojis. You can see it on my face. And now that I have my little sticks with the heart. Um, yeah, I sold them. Awesome. Well, and sometimes you have to deliver information that could be really sensitive, right? It’s important that they understand it for their growth. So that feedback having, you know, have it for me, I’m big on in person conversations. But zoom is starting to take the place of that, especially when you have people who are another another location, right? Yeah. Okay. So it’s about celebrating together communicating together. And what else? Well, so the other one of the things that we do, so we have a meeting, like on Wednesday nights, we call it happy hour, and it’s basically a sales meeting, and it’s fun. And we talk about, like, goals and actual goals and actual and then wins. And then on Friday, we do a fail forward call. So it’s like mid day. And everything that we talked about there is Okay, tell us something that you failed at this week. And what did you learn from it? Okay, and sometimes if they don’t, they don’t realize what they’re learning from yet that gives another agent an opportunity to jump in, or me or any of our any of our operations to jump in and say, all right, well, what if you had done this? Yeah, in a positive way, right. And or the gives them like, oh, what if you use this script? Or what if you did this or what have you, you know, is I have a lender that might be able to do that. So they’re my problem solving actively? Yeah. So it’s funny because Sara Blakely talks about how her father used to ask a dinner for failures. So we’re starting to implement that strategy with our three year old. And he’s not quite clear on what a failure is. He’s like, I don’t know, I rode my bike. We’re like, well, but we think like, wow, the mindset that comes with talking about where you failed in a positive way, sets you up to just move that much faster through anything, because you view it as a win, even if it’s a failure, right? Because you learned something. Yes. Yeah. And that’s why a lot of my classes are so fun, like people and they rave about them. And that’s, you know, total pound back. It’s not because of what I’m talking about. It’s where I’m we’re talking about our failures. Yeah, we’re we’re talking about our when we moved into this market, even though it was the same MLS or business, the paperwork is so different. And we didn’t know that. Yeah, we were in and then like, there’s, you know, what, you know, so it’s not even, that’s why people love to come. Because we do talk, we talk about failures, way more than we talk about the successes, even today, you could have left out the fact that there were two expansions, it didn’t work, but that we’ve had more than two, don’t get me wrong. Like we’ve gotten business with the wrong people a couple of times. And it same thing, it was either culture, or it was it was wrong with you know, we weren’t going to be on the same business plan. Okay, so I have one more question. And this is a big one. How do you interview to try and shelter yourself from picking people who aren’t in culture? are the questions that you asked? How do you get clarity over that? Like, let’s imagine someone from today approaches you and says, I want to start a kind of already happened? Okay. Not surprising, right? Yeah. So right. If that happens, how do you know whether to move forward? And how are you going about the process? Well, so, you know, like I said, we were KW. So we, I’ve been to career visioning and recruit, select them actually, potentially going to start teaching it. And so we’ve done that type of, you know, going through the process with people and interviews and the questions and this and that. And every time we interview somebody else, we’re probably add a new question to our list. Okay, just constant, or anytime somebody doesn’t work out, you’re like, wait, what, what can I learn from this situation? What did we miss? And then we’re having an even more conversations with like their team leaders, but we really talked about where did your last 10 deal 10 deals come from. And if they came from stuff that has, like I said earlier, if it doesn’t come from, like, the lead generation that we do, or that we’re not proficient in, not that we were pretty proficient just about everything, but if all of their business came from referrals, they’re not going to want to lead generate, right, they’re not gonna want prospect, except for the people they know. And we have to know that. And I look my business and most of you know, our biggest source of business is still referrals, Agent referrals, yet, that’s going to be harder. So price went slow. Because you’re gonna you’re gonna be coming up against the split again. Yeah, really fast. Yeah. So you, did we that’s a question we didn’t ask in the beginning. And now we do because we’ve had that we’ve had that issue. And other ones would be or tell us about a time in your life that you failed? And what did you do about it? Or, you know, if we’ve got the resume, we’re gonna look and say, all right, looks like you job hopping a little bit like what happened and then we want to listen for what victim converts victimhood. All of my managers are horrible. Every single manager you had was terrible, which means you’re gonna be talking about me as your former boss very soon that. I yeah, yeah. So we have someone the other day we interviewed that said, I’ve been with three teams in the last year and all the people on those teams were awful. We’re like, how quickly could we run away? Right? Like, oh, like if you said all the team leaders, we would still run but all the people on the teams like, look in the mirror my friends. Yikes. Yeah. Okay. They were on the same page. Yeah, very, very good. And But well, thank you so much for taking the time to be here with us today. I really appreciate it. And if you guys want to reach out to Lisa because you want her to teach in your office and your team environment and your market center. definitely get in touch with her her information is going to be below give us a quick thumbs up and subscribe. See you guys soon. Thank you for tuning into this episode of hyper fat show. Subscribe to us if you want to make sure you get the latest and greatest by professionals. And remember, we love reviews. Reviews help us bring better and better guests, prove our shows give us the good, the bad and the hope you enjoyed the show and we will see you next time.

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