Newsletter – October 2020
Stories From The “Other Side”!
We are often asked, “What is Stepping Up?” Well, maybe you should hear what we are all about from the “Other Side”, our referring agents!
Sherie was one of the top Realtors in Southern Arizona. Her business had grown into a valuable asset as she approached her time to step back. She wanted a Succession Strategy that would work. Sherie was offered a low $15,000 to sell her book of business, that seemed weak for a lifetime of work and a loyal sphere. So, she asked her professional coach, “How do I get out and still optimize my income?” Together, Sherie and her coach worked out a plan. Plan A, Sherie watched several prospective Realtors in her office who she felt she could trust to care for her clientele. One by one they failed to fill her shoes. On to Plan B which was to start referring out some of her clients to agents in her office and see how they handled them. Over a couple years she saw who took good care of her clients, who communicated well with her, and who was “hungry”! Finally, Sherie and Tom Ebenhack connected and that started a long-term business relationship that has since grown into Stepping Up! – Teams that specialize in Successful Succession for experienced agents. Sherie had been looking for a succession plan for 5 years when Stepping Up! stepped in!
Sherie has been with Stepping Up! for 8 years now. Her income and loyal sphere are both still going strong. She loves talking with her clients. She also loves not doing her transaction work and marketing! Sherie is her team’s number one client and most valuable Team Member. Now she travels when she wants, works if she wants, enjoys her friends, family and frequent paychecks!
Here’s what Sherie has to say, “As I considered changing my real estate career from full time to a Referring Agent, I looked at many different options over a 5-year period. I decided that the Stepping Up! approach was by far the best to keep my name and marketing in front of my clients (and at no expense to me I might add!), and to assure that my clients would be taken care of in the same professional manner that they had been used to.”
Tom Ebenhack, Lori Mares, Realtors
How Far Ahead Should I Plan?
Whether you’re thinking about retiring next month or in 10 years, now is the time to plan. Discover available options and what best fits your style. Analyze models others have successfully implemented and develop yours. Plus, how do you train your successors? And, how will you handle a short-term emergency?
Welcome Green Valley!
We are so excited to welcome The Stacey Bell Team in Green Valley to our Stepping Up! Team. Stacey has always been in a service industry, and finds both great joy, and reward, in helping people. Stacey says, “We give tremendously to our clients and spend a great deal of effort and dedication in building our businesses, it really becomes a large part of who we are. Why should all of that hard work and effort slip away?” Stacey is looking forward to fostering connections with agents that are ready to reap the rewards of their years of building a successful business, without losing the income value they deserve.
Six Mistakes You MUST Avoid
If you’re seeking YOUR Exit Strategy, here are six mistakes that you must avoid:
1) No Plan—Planning is the key to any successful transition. We specialize in plans, you need one that will set you up with income for years to come!
2) Waiting Too Long—Typical Realtors think they’ll retire in a couple years, so they just don’t work as hard as they use do. However, when they do finally decide to pull the plug, their sphere is down to the very few close clients they’ve done business with the past year or two. What’s their value? Not much! We want to see you do better than that.
3) Not Finding the Right Person—Business sales or transitions often go wrong after the new owner takes over. We, as successful business owners, make it looks easy. But we’ve attained a lot of wisdom and business sense over the years that your new owner may not have yet achieved. When this happens, the new owner ends up going out of business and leaves you holding an empty bag. You don’t want that bag back do you?
4) Too Short a Transition—If you turn it over too quickly, you risk your clients not getting to know your replacement well enough, thus the referrals don’t come. You need a strategic transition to succeed.
5) No Documentation—The strength of your Exit Strategy is actually your sphere of influence. To show that strength you’ll need good organization and documentation of your database. Many have never put that together! We can help with that process—it’s important for your new partner’s future marketing too.
6) Expecting to Sell—Many agents “hope” to sell their business to someone else and walk away from it. Sounds like a great plan on the surface, but in reality, we’ve not seen any offers close to what your value should be. You can do so much better than what you’ll be offered outright for selling! Don’t settle for less.
Tom Ebenhack, Realtor
FREE CE Class, Exit Strategies for Realtors
Zoom class, Thursday, October 22, 1:00—4:00 pm
3 Hours CE Credit, Commissioner’s Standards
There are many classes that teach us how to get into real estate, but no one teaches us how to get out! We spend our years building a viable business that supports our family, our travels, our whims – our life, but how do we let go of that baby?
We’ve decided it’s time to get LOUD! We’ll give you a look into the various options available plus the pros and cons of each. Join us for this excellent info, or just for the credit!
Sign up at: TAR Website, Events/Upcoming Classes
Turn Your Dreams into Reality!