While the concept Mega Agent Expansion may just be entering the minds of many agents, Keller Williams is home to a growing group of mega agents who are already experiencing enormous success through expanding their businesses into multiple markets.
The reason for expansion? Greater profit potential. Simply put, your business can only grow so big in one place. And, for those agents who have mastered their lead generation and administrative systems, expansion provides an opportunity to drive profit by leveraging the systems already have in place. The next step is simply finding the talent to put them to work in the right location. The RIGHT who with a BIG why.
For some, this can mean expanding to a neighboring town where leads are already beginning to show up. For others, it’s meant taking their business across the country, to a market where the lead generation tactics they’re already using prove successful.
Kristan Cole, Vice President of Mega Agent Expansion walked more than 1,000 Family Reunion attendees through the MREA Expansion Model and shared the appropriate point in an agent’s career to begin considering expansion.
Cole also dispelled some of the most common myths regarding expansion:
Agent expansion myths:
- I’m an agent not a business person.
- Expansion is for companies not agents.
- I can just make more money with my current team.
- My plate is so full with my current business I don’t have the bandwidth or resources to do this.
A panel of top expansion agents including Adam Hergenrother, Ben Kinney, Brian Gubernick and David Hoffman shared their biggest mistakes and the lessons they’ve learned as they’ve pioneered the concept of agent expansion.
Gubernick advised “take your time with your first expansion, you will find you have a lot of holes in your system when you first expand. Most of us used the ‘ready, fire, aim’ strategy, and have failed our way through a lot of great lessons.”
“We are expanding through the area like a jar of horseradish oozing down the interstate,” said Kinney. As for his biggest mistakes? “The way we expanded was to find random agents and have them join our team. There was no leadership or camaraderie. The biggest mistake I made was hiring people without Recruit Select.” Filling your bench is the key and Keller Williams has the systems to ensure you find the right players.
Think you might be ready to expand?
- Attend Expansion Systems Orientation
- Dig deep – Uncover what holes are in place in your business. Start with lead generation in the area BEFORE you expand.
- Find the WHO with a big WHY