Agent Spotlight: Will Penney, Exp Realty
Will Penney, The Penney Group, EXP Realty, “This is a belly to belly relationship business, it always has been and always will be.”
In this interview with Will Penney from the Penny Group, EXP Realty, Will and I dig deep into his 35 years of real estate experience. We touch on how he got started at a very young age, how he and his wife ran a successful brokerage together, and how after struggling through the recession years, he came out ahead, selling more than he ever had in 2010. He shared with me what he did and some very simple yet effective advice for agents at any stage of their career.
This discussion is the perfect interview to pop in your earbuds, go for a walk and just listen to an amazing 50 minutes, jam packed with real and honest thoughts around what it takes to be successful in this industry, especially in shifting and changing markets and how to create a career of longevity!
The moral of the story is that in a shifting market there are many agents who are getting hit hard right now. However, unlike our last shift, they have plenty of jobs to fall back on due to the economy we are in. Unfortunately, they are at a crossroads, they can either do what it takes to be successful in this market, or be forced to go back to their corporate jobs or service industries.
We added 14,000 agents in the last 3 years in Ohio. We went from 36,000 to almost 50,000 agents. We have a million and a half licensees in the United States that's up from about a million -
Those of us who want to make it will come out of this shift better than even before should be highly focused on 3 pillars of lead gen which are:
past clients, sphere, and repeat business,
marketing which is passive
And prospecting.
87% of agents don't make it to their 5-year anniversary because they don't do pillar 3, which is prospecting! They don't like doing the heavy lifting …having to talk to people they don't know!
The Truth is, we are in the lead generation and conversion business -not in the real estate business!
The positive for agents right now is if they're out there prospecting, keeping their arms around their sphere, adding people to their database every day… Once we get past this and things stabilize, you will be so much further ahead than you’ve ever been!
These Markets, They Change, Nothing is Forever.
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