Searching For The Next Jeremy Lin Real Estate Agent
Jeremy Lin’s story is very interesting and reminds me of Billy Bean, in the Movie Money Ball. Business owners and managers knee jerk reaction always focuses on cutting expenses, before opportunities to increase revenue are considered. Jeremy Lin earned $800,000 playing for the Golden State Warriors, before they cut him to meet their team salary cap. We know what happened next, the New York Knicks picked him up, and he has become a super star!
How much in revenue do you think the Warriors have lost by cutting Lin? I’ll give you a hint, it’s way more then the $800,000 salary they were paying him. Teams and Businesses place risky bets, by investing large amounts of capital in the next star player, Hot CEO, or Million Dollar Agent. Real Estate Brokers are always after the top agents, and we often are willing to give up the corner office, cover their office expenses, and give them too high of a commission split, just to recruit them to our firm. Then we learn, after 12 months, they were on a hot streak, got lucky with a few deals, and not nearly worth the investment.
I believe there are thousands of Jeremy Lin real estate agents out there right now, waiting for a broker to give them an opportunity to build great careers. My business model doesn’t allow us to compete with other firms, who offer higher commission splits. We are a full service firm, and see value in providing our agents with certain amenities, other firms expense directly to the agent. My business partner, Allen Parham, and I decided to focus first on working with our existing agents, and help them become successful, before we begin investing our time and capital in agents outside of our firm.
Over the next 6 months our efforts will positively impact our company dollar. What really excites us is when you walk down the hall or stop by an agents’ office, you can see the impact we’ve had on them and how much they appreciate us not giving up and re investing in their careers.
We see a few Jeremy Lins in our office, how many have you cut from yours?