How We Grew Our Real Estate Business By Switching To A Team-Based Model
This is a follow up story for Vesta Preferred Realty. If you're interested in reading how they got started, published about 5 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
My name is Grigory Pekarsky and I am part owner of Vesta Preferred, a boutique real estate company that operates out of the Chicago area. We operate the RNP Real Estate Group and are a top 5 sales team in Chicago. We focus on residential sales/rentals and investments.
We have been in business since September of 2009 and have enjoyed a 20% growth annually since inception. Last year we were highlighted as one of the most successful teams in Real Estate in the country by Real Trends.
Tell us about what you’ve been up to! Has the business been growing?
Since our merger with another highly successful independent real estate team, we have just been focusing on building an assembly line style execution to our real estate model. It's been working really well and we are now working to create a team-based model to help our blossoming individual agents even more.
Never forget the small things, those small things are the building blocks to the larger goal.
Our main focus has been on the technology aspect and empowering our best people to automate as much of their system as possible so they can focus on what they are best at, selling. We are also about to launch a new real estate site focused simply on lead capture. With that, we are hiring a team to only call leads and follow up daily. We are hoping that we can start to convert more business for our agents and keep growing our team as a whole.
We have been featured as an Inc 5000 fastest growing company in the country for three years in a row now. We hope to keep increasing our pace but only if we can keep the quality of our output the same.
What have been your biggest lessons learned in the last year?
Don’t get lost in the small details. Things always tend to work out but the small annoyances distract you from building the bigger picture. To build the model I outlined requires daily discipline and never loses focus. Once you do it just seems like you are in a turning wheel with no end. The daily actions help you see that result.
What’s in the plans for the upcoming year, and the next 5 years?
Our main goal is to create the first billion-dollar real estate team in Illinois. Hopefully, it comes sooner than 5 years but it very well might take that much time. To get there we will have to perfect our process and replicate a few times and reach a greater geographic area of service. That is our goal.
Have you read any good books in the last year?
I’m not the greatest reader. It's a personal fault and hopes to change that.
Advice for other entrepreneurs who might be struggling to grow their business?
Remember to take personal time and allow your mind to relax/unwind. It's amazing how much inspiration will happen if you just let go of the day-to-day stress, even if it's a 15 min mediation session. Also never forget the small things, those small things are the building blocks to the larger goal.
For example, in my business of real estate, the small thing is daily phone calls to my sphere/past clients. Without fail if I miss on this for a little bit of time my referrals don’t come in as often. No matter how big or successful I get I always make time for sphere calls.
Are you looking to hire for certain positions right now?
Never really looking to hire but good people come to us naturally due to our reputation. We don’t hire everyone but for great people, we always find a position. We know how difficult it is to find great candidates.
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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