84% Growth in 12 Months: Portside Real Estate Group
Running a sales team is not the same as running a real estate brokerage.
Dava Davin discovered this while she was leading a successful sales team. She had been working with a sales coach for two years, which helped her grow from $20M to $45M in annual sales volume.
However, she was busy working two jobs. In addition to running her team, she was running Portside Real Estate Group in the Falmouth, Portland and Yarmouth areas of Maine.
It was doing well, but she knew she needed help taking it to the next level. She interviewed business coaches who specialized in working with CEOs, but most did not understand the specific dynamics of the real estate industry.
So when a friend mentioned T3 Fellows, a mentorship program for growing brokerages and teams, she “hunted it down.”
Dava had ideas for how to grow her company, but she needed a sounding board with experienced leaders to make sure she would make the right decisions along the way.
And if the results are any indication, she found the right partner in T3 Fellows. Within one year of starting the program:
- Portside grew from $128M to $236M in annual sales volume, an 84% increase.
- Agent count grew from 25 to 49, a 96% increase. This was purely the result of organic growth – she did not need to cold call or market to generate results.
- The company acquired an established local RE/MAX franchise. This may very well have been the first time an independent brokerage in Maine had ever acquired a franchise.
- They had a new headquarters built from the ground up. The new office reflects the Portside Real Estate Group’s customer-oriented brand. Clients enter into a grand lobby with high ceilings, a fireplace and comfortable seating, while agents sit nearby to welcome them. It’s about creating a delightful customer experience.
- Her team launched the Portside Foundation, which runs 4 fundraising events for charities in the community each year. Through bowling tournaments, special gatherings and even an exercise boot camp, the company raised over $20,000 for charities like the Audubon Society and Girls on the Run.
In addition to providing the confidence and feedback needed to reach these accomplishments, T3 Fellows was particularly valuable during the acquisition of the RE/MAX office. Through negotiating valuation, compensation, marketing and countless details, Dava was able to retain all of the agents and staff of the new office.
The T3 Fellows Retreat also gave her the opportunity to share ideas with one of her idols, Jonathan Kauffmann of Nest Realty, who is a T3 Fellows Mentor. “You can’t pay money for that kind of advice,” said Dava.
And the growth is not over. The mentorship that she received from T3 Fellows has allowed her to reorganize her staff, hire two new people, and empower a manager to take the workload off of her plate. As she tightens up systems and recalibrates for growth, her goal is to reach $300M in sales volume in 2018, and reach $1B in the near future.
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