During Episode 91 of The HyperFast Agent Podcast, host Dan Lesniak speaks with Jim Remley, a broker-owner who started his first brokerage at 19 and spent several years speaking and training for NAR. Jim shares his fascinating tactics for recruiting by referral, how scale allows him to bring his agents more services, and how he holds new agents accountable. Hear his perspective on how the industry is changing and creative things you can do to stay top of mind.
Episode Highlights:
- Jim Remley got into real estate at nineteen years old. He took 150 listings in the second year. After he grew his brokerage to 17 offices, he sold it in 2006.
- Jim spoke for NAR for 10 years. He then ran a company in southern Oregon. He’s back in the business as a broker-owner and is on track to do a billion dollars of sales this year.
- He started his own brokerage because he is driven by achievement.
- The hardest thing about recruiting was that he had to figure out why they should come to work for him. He realized it would either be for more money or because he'd make their lives easier.
- He built a culture of excellence.
- They recruit by referral. He asks his agents after every closing whether they recommend recruiting that person.
- When you recruit anyone, there's also a down-line from them at their former company.
- It’s easier for Jim to maintain his close-knit culture on a bigger scale.
- They do social nights and a big client appreciation event.
- They bring in high-level trainers just for their group.
- His brokerage has a large number of staff members to support full-time agents.
- He hired a technologist that helps agents with real estate technology.
- He uses scale to bring his agents more services.
- Jim describes how the Australian real estate system works.
- His brokerage uses a daily dashboard to hold new agents accountable.
- At the end of the day, you’ve got to be having conversations.
- Teams did not exist when Jim first entered the business.
- It takes time and consistency to recruit people who have been somewhere for a long time.
- Online leads have changed and the quality of leads is getting worse.
- If Zillow cuts you off tomorrow, where is your business?
- A big part of his coaching program is helping agents get control of their database.
- Take control of your own lead generation and your own follow-up.
- He recommends spending no more than 10% of your marketing budget on Zillow.
- Buyers prefer to work with a hyper-local agent with a great website.
- He knows an agent that does a monthly, mandatory plus one mixer.
- He recently recruited an agent that makes 60 calls a week and sets an appointment every single day.
- Just taking people to lunch, dinner, and drinks could be your marketing spend and it could be more powerful than almost anything you could possibly do.
- Another agent has a VIP club. She tells her entire database about this club she created specifically for those who refer her. Every time she has a referral she buys a beautiful gift and shows it on social media. She also does events for VIPs.
- You've got to be using video with your database
- Video is almost as good as talking with people but you’re doing it at scale.
- When looking for referrals, think about how you can help others.
- If you want referrals you have to start sending referrals.
- You can get a tremendous amount even out of a small database if you're working it right.
- His biggest challenge was his age because he started at 19. He overcame it by being really competent.
- Jim believes the biggest challenge agents face is shiny object syndrome.
- Buy one real estate investment every year you’re in the business.
3 Key Points:
- You can recruit by referral. Don’t forget that when you recruit, that person has a down-line at their former company.
- Providing an array of services can make your brokerage more attractive to recruits.
- Take control of your database and be responsible for your own lead generation and follow up.
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