Recalibrating a NYC Brokerage for Double-Digit Growth
Like many agents-turned-brokers, New York City-based broker Michael Meier was a killer salesman and effective team leader who had spun those skills into his own firm. Although Meier Group (now “Meier Real Estate”) was successful, the 7-year-old firm lacked the systems, branding and structure for explosive growth, which Meier desperately wanted.
So Meier decided to kick his business up a notch and applied for the T3 Fellows accelerator program. This one-year hands-on program is designed to help elevate, streamline and focus a broker on a growth trajectory. The detailed curriculum includes 12 modules, monthly Web conferences, one-on-one executive mentoring, financial guidance, goal-setting, branding coaching, management training, a mastermind group and more. Learn more about T3 Fellows here.
During the program -- which Meier completed this June -- Meier transformed every aspect of his business. “It’s the best thing I’ve ever done in my real estate career,” Meier said of joining T3.
Since joining T3 Fellows in June 2015, Meier Real Estate:
- Grew to 12 agents (50% annual growth), with more on the way.
- Restructured every element of the business, including a new business model, branding and technology system.
- Now focuses 80% of broker’s time on growth due to efficiencies and systems
"More than anything, beyond the branding and tech changes and new systems, the most valuable transformation involves my frame of mind," Meier said.
Before T3, he thought of his brokerage’s growth in terms of sales, sales skills and listings, a perspective he now calls naive. Now, he views his agents as his clients and has crafted his business around helping them become very successful.
During the one-year program, the firm completed a staggering amount of changes, including:
- Developed a new website, including new video and consumer advice content, IDX search and a deep integration with a new customer relationship management system
- Solidified the company strategy, revamped its branding, including a new name and tagline.
- Developed a thorough marketing platform for the firm and its agents, and productized a listing marketing system.
- Completed an annual editorial calendar for social media posts.
- Installed and customized a powerful real estate-focused CRM that facilitates automated lead-routing, action plans, and automated responses for leads and communication with clients.
- Installed a new digital transaction management platform to streamline operations and reduce errors.
- Developed agent and employee manuals, including a policy manual that outlines a roadmap for agents to evolve their careers, an agent policy manual and a procedural manual.
"Deciding how to grow a brokerage can be overwhelming because so many business models and strategies exist," Meier said. "With one-on-one consults,T3 Fellows helped me decide how to grow, a critical step in building a sustainable, scalable business."
Michael say two things are really important for him:
- He loves working with people who have drive, ambition and collaboration.
- He strongly values a work environment with a clear structure and direction.
These elements helped him conceptualize and then crystallize his brokerage’s unique value proposition to agents, which helps him attract the right agents for the firm and also develop the messaging to reach them effectively. With his firm’s foundation firmly in place, he’s ready to pour rocket fuel on his agent recruiting and training initiatives.
Now that he’s freed himself up, for the most part, from the day-to-day slog of transactions and sales, Meier also has the time to dedicate to building a presence in the industry. He now hosts a real estate education course every morning on Snapchat, a “#snapucation,” and has branded himself as “Real Estate Snapchat Guy.”
These efforts have led to a profile article by Inman News and mentions in other publications including Bloomberg and Yahoo News.
Learn more about T3 Fellows here.