Doubling Growth is Never Easy
Running a real estate brokerage is a full time, 24 x 7 business. There’s so much going on: real estate transactions, agent questions and the constant need to put out fires. As a result, executives often lose focus on where they want their company to go and how to get there.
This is the challenge that Paul Baron faced.
Not that he wasn’t already a superstar broker. Paul is the founder and broker of record of Century 21 Leading Edge Realty, which has been serving the Toronto region of Canada for the past 23 years. His company had 550 agents in 10 offices and was generating $3 billion in annual sales volume.
In all regards, Paul was doing well. The company was already generating 15-18% growth, but it had hit a plateau, something that almost always happens to brokerages, no matter the size. Changing his situation was not going to be easy. He knew needed something special.
Paul had participated in broker coaching programs before, and while some offered good ideas, he wanted innovative solutions that he could actually implement and take him to the next level quickly.
He had met Stefan Swanepoel and Jack Miller at a franchise convention and decided to give T3 Fellows, their 12-month leadership development program, a try.
And he was pleasantly surprised. He received guidance on various practices he had been doing for years. Although what he had been doing wasn’t wrong, he made changes that had an almost immediate impact on the business.
- First, Paul was shown how to drill down into his numbers at a deeper level. This gave him a clearer understanding of which numbers matter most and how to interpret where his brokerage really stood in its competitive environment.
“The management team’s impressions of how things were – including my own – often didn’t match up with the reality that was revealed through statistical analysis,” said Paul. “T3 Fellows helped us analyze our competition and understand how we stack up in terms of our strengths, weaknesses and opportunities. That lead to a lot of ‘a-has,’ and that was just in the first 90 days of the program.”
- Second, Paul’s team found that they were participating in a race where all brokerages were basically trying to be the same. This race would end up being a competition on price, which was not the ideal battleground. T3 Fellows showed Paul how to take a step back and use strategies that would help them differentiate themselves.
- Third, Paul was able to enlist numerous T3 Fellows best practices and implement significant changes to his systems and processes. Many ideas came from his peers who were participating in the program, as well as T3 Fellows Mentors who were available at the bi-annual T3 Fellows retreats.
By the time Paul graduated from T3 Fellows, he had grown his brokerage from $3 billion in annual sales to an incredible $4.2 billion within one year (+40%). He also grew his agent count from 550 to 740 (+35%). In both cases he doubled his previous annual growth rate.
And the growth isn’t limited to one year only. Paul believes that by retooling his brokerage with what he has learned, he projects that his average annual growth will grow from 15-18% to the 30-40% range. “We haven’t experienced the full impact of T3 Fellows yet,” said Paul. “There is a phenomenal growth curve ahead of us.”
T3 Fellows is not a coaching class. It is not academic study. It is a practical hands-on, 12-month program geared to help progressive and committed brokers – both large and small – generate significant growth.
Is T3 Fellows a good fit for your team or brokerage? Drop us a line and let’s find out together.