Episode 33
How to Build a Team With High Profit Margins and Low Turnover Rates w/Chris Suarez
Buying online leads is becoming more expensive, and agents are choosing to leave teams when they find out leads can just be bought from online aggregators. What else should you be offering your agents? Why is it so important to focus on increasing your profit margins and investing more in our people? How do systems, tools, and coaching lead to earning more and building a happier team? In this episode, Chris Suarez shares on increasing profit margins and providing real value to your agents.
The greatest business opportunity is to find complicated problems and come up with simple solutions -Chris Suarez
3 Things We Learned From This Episode
You can build credibility and win a lot of business if you have better knowledge of the market than your competition. Nobody will ask you about your time in the business if you already come across as experienced and knowledgeable.
Buying leads from aggregators not only damages your profitability, but can also contribute to a high turnover rate. When you have nothing else to offer but leads, agents don’t have enough incentive to work for you. They can buy the same leads themselves and work individually.
The more money you make, the more you can invest into buying the best systems, supporting your agents, and hiring the best people. Focusing on this aspect of the business will also allow you to pay your agents what they are worth, lowering your turnover rates.
The scarcity mindset has led many team leaders to pay for leads, believing that there won’t be enough leads on the market otherwise. However, online platforms that generate leads have gotten so expensive over the years that it’s far more profitable for teams to find other ways to generate their own business. Buying leads not only hurts profit margins, but also impacts the team culture. If a team leader only offers leads to his agents, there’s not enough incentive for agents to stay. Anyone can find their way into production by buying leads. Offering systems, tools, and coaching will help your agents grow while also giving them reason to stay with you.
Guest Bio-
Chris Suarez is the CEO of PDX Property Group at Keller Williams and specializes in urban housing. During his career, he represented over 1,000 buyers and sellers and has over $250 million in closed volume. Last year, his team sold over 220 homes, and he constantly works on new ways to improve his strategy by participating in quarterly meetings with masterminds and top agents from across the country.
