Hi all! I wanted to hop in here as I try and be as active to this community as possible. I had a great ama here last week that stirred up a lot of great conversation and I wanted to continue to add value to your businesses.

It’s important to be a full service shop for starters. It’s not only great social proof if you are a top to bottom agency but more importantly, you will generate more business this way and get a more diverse client base. As many of us know, realtors are cheap so it’s hard to grow a substantial business without a high(er) ticket offering that appeals to those who aren’t real estate agents.

Here’s a few ways that we have scaled to a 20 person firm million dollar agency with trajectory to produce $850k this year and $1.5mm next year.

An important thing you should ask yourself before taking the plunge into scaling is what type of business are you going to scale. Why do I mention scaling? Well, if you are a 1-2 man band, I highly advise not taking on more ventures under your business until you are able to handle the work, perfectly, every-time.

Social media management is arguably one of the MOST effective offerings as it creates a RR (recurring revenue) model which for our businesses is invaluable, especially if you dream of selling your firm someday, a subscriber base Will help keep your business operating during those ~variable months without worry, especially at scale where you have payroll. Offering social media management services to your clients who thrive and survive on social media to promote their businesses is a great way to ensure you continue to also get those calls for their listing projects.

Don’t let your cameras have downtime; they should be working everyday. Your camera should be viewed as a resource that you allocate to your highest paying work, all the time. Each camera should bring 100-200 times it’s value to your business. If you’ve got skills, agents can always use content. Find a way to make sure your cameras don’t have any downtime, don’t wait for agents to “call you on the next one” - this market is wayyyy too variable for you to sustain a career with limited listings in the market.

Marketing And lead gen. Your clients are already likely paying for this in some capacity. There are so many places where agents wish promote their listings and this is additional work for them. As a business catering to the real estate business, you want to ask yourself and your customers “what other tasks can I take off your Hands”. I’ll give you a quick example, get a business account established with Wall Street Journal, financial times and other popular real estate publications and mark up the fee they charge to post an article. With a good copywriter and someone with some creativity (hire this person / add it to someone’s job description) you can now help them get more views and potentially lock up that sale.

Make your business turn key - don’t only appeal to agents, appeal to brokerages who’s lifeblood is to retain a real estate agent. There are many great tools out there that brokerages would like that many are unaware of, whether that be a software, or you got a coding background, see how you can support the brokerage. Find their biggest pain point and see if you can solve it. The agency has the most money, find a way to obtain that!

Lastly, your skills that you know for REP are very transferable to other mediums. Hotels, businesses, construction companies etc. same skills, usually same resources from your organization, find a way to work with those folks.

As always I’ll try to answer any questions here! But my question to you all is how have you diversified your business?