As a student in Broker 101, Keith Pike started to panic. He’d just invested everything he had into a new RE/MAX franchise, only to find himself surrounded by brokers who were more tenured, more experienced – and he thought at the time – more qualified.
“I thought the only way I’m going to avoid bankruptcy is to jump in on this with everything I’ve got,” the Broker/Owner of RE/MAX Elite in Little Rock, Arkansas says.
He did just that – and less than three years later RE/MAX Elite is home to more than 80 agents spread across four offices. When it comes to measuring loyalty, his office has an NPS score of 92.
On a recent episode of the Momentum Podcast, Pike credits the training program with helping him develop the systems that lead to his success.
Here are three more takeaways he offers for Brokers looking to build a thriving business.
- Choose a system you believe in – and stick to it.
“Any coach will tell you to believe in your system and do the system. I believed in RE/MAX, and I believed in Momentum.
I knew I was plugged in to the real estate company that sold more real estate than any other company in the world – and I could teach other people how to plug into that system and do it. I knew that if I just kept following my system it would pay off for me.”
- Take a hands-on approach to developing your agents.
“A part of the value proposition I have is total agent development. We’re very involved and never boring.
Agents are on a rollercoaster, they have high times and they have low times. I try to make those pauses as short as possible by offering training they can implement during the high times so their business doesn’t hit as much of a low. Because when it hits a low, those agents start to have self-doubt about themselves – they start questioning if they should stay in the industry. That’s why I encourage them to come to training every week to reset.”
- Realize loyalty is the PR money can’t buy
“Agents make an event of coming to my office’s trainings. Afterwards they like going out to eat together. They post pictures to social media and their friends at other companies start thinking, ‘My brokerage doesn’t do this.’
In fact, the day after someone posted a picture from a training a $9 million agent contacted me and asked to meet. He said he saw that picture and he realized where he was working was – in his own words – a morgue, and he needed to make a change.”
For more of Pike’s insights, including more of his journey to success, check out Episode 2 of the Momentum Podcast. In RE/MAX University, click “Broker/Owner Training under “Quick Links,” then “Momentum Resources” and finally “Momentum Podcast.”