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Own a brokerage? The you own a network marketing company!


Seriously?


Yes! (Note: and that’s a good thing!)


Investopedia.com (https://www.investopedia.com/terms/n/network-marketing.asp) defines Network Marketing as:


A business model that depends on person-to-person sales by independent representatives, often working from home. A network marketing business may require you to build a network of business partners or salespeople to assist with lead generation and closing sales.


Sounds familiar?


Do most real estate sales happen person-to-person? Yes.


As a broker/owner, are you in business with independent representatives who often work from home? Yes.


Do some build a network of business partners or salespeople? Yes. Think about those agents with teams.


In fact, if there is at least one agent in your brokerage, you’re automatically a multi-level marketing company (you get paid on your sales and sales that your agent/s generate).


And if you have teams in your brokerage… Congrats… You just added at least another level to your MLM company since now you and the team owner are both getting paid based on production of teams’ agents. And then if you have teams within teams… You get the point!


So why am I writing this?


I co-founded my first brokerage in 2014 and our team took it to the most productive office in the state in less than 4 years (appx 400 agents and over 3,000 sales per year), all by recruiting and training real estate agents on how to do two things:


  1. Market their services to their network

  2. Build high functioning teams that then do #1


We did all of that without looking up to, learning from, and embracing one of the biggest and most lucrative industries in the world - network marketing/MLM. If I had a chance to do it all over again, I would have picked up books like Go Pro by Eric Worre and Building an Empire by Brian Caruthers.


My recommendation to broker/owners out there: do not reinvent the wheel. R&D (rip off & duplicate) from an industry that today creates the highest number of liquid millionaires - network marketing.


After all, you’re already in that industry.





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