#609: Growing Profitably Through a Down Market, Building for the future with Matt Durbin - Expert Mentors Live

Coach Code Podcast | Life. Coaching. Real Estate

#609: Growing Profitably Through a Down Market, Building for the future with Matt Durbin - Expert Mentors Live

In this episode, Matt Durbin shares key strategies to help real estate agents navigate challenges and boost productivity even when the market is tough. The discussion focuses on how to keep growing your business by setting clear goals, managing leads effectively, and training new agents.

The meeting starts by talking about the difficulties of the current real estate market. Matt and the team discuss how challenging it is for top teams to stay successful right now. They look back at their growth since 2019 and celebrate how much they’ve expanded, growing to 31 agents. They also set a big goal for the year: reaching 300-325 transactions. This shows their commitment to keep pushing forward despite the challenges.

Next, the conversation moves to finding the right balance between the number of agents and their productivity. Matt emphasizes that having a stable number of productive agents is key for business success. They talk about the struggles with agent turnover and how it can make it hard to keep a consistent performance. It’s important to have a reliable team that can handle the ups and downs of the market.

A major part of the episode focuses on a listing-based business strategy. Matt explains why focusing on listings is so profitable. By increasing listing activity, agents can better control the market and generate low-cost buyer leads. Listings not only help in controlling inventory but also attract more buyers without spending too much money.

The importance of managing a database effectively and generating leads is another key topic. Matt talks about how turning over the database frequently can lead to more transactions. They discuss ways to make agents more productive by providing the right training and support. Matt advises against relying too much on expensive lead sources like Zillow and Realtor.com. Instead, he suggests using free and low-cost options such as For Sale By Owners (FSBOs), Facebook ads, and holding open houses.

For effective lead generation, Matt recommends focusing on these low-cost methods. He encourages agents to use their sphere of influence, hold open houses, and always follow up with leads. Consistent follow-up and making attractive offers during conversations can significantly boost success.

Several action items are highlighted to help agents put these strategies into practice. Increase listing activity to build inventory and gain more control of the market. Focus on database turnover to maximize the potential for more transactions. Reduce reliance on high-cost lead sources and shift to more cost-effective methods like FSBOs and Facebook ads. Implement a structured training program to help new agents become more productive through proper training and support.

By following these steps, agents can improve their business performance, even in a down market. Tune in to learn practical tips and strategies for growing your real estate business profitably. This episode is filled with valuable advice to help you navigate challenges and plan for a successful future. Don't miss out on these expert insights!

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