Categories: Podcast

267 – Justin Bosak – Hiring a Team To Scale Your Real Estate Business

Synopsis

Justin is back on the show. He previously appeared in an episode in 2019, when he discussed the importance of building a strong team for your real estate business.

In today’s episode, he’ll tell us about how employing a team may help a business grow, as well as some updates about his upcoming media company.

Key points

Effect of COVID-19 on Real Estate Sales

Justin is a co-owner and partner of RE/MAX Revolution in Wall, New Jersey. They have been in business as a brokerage for three years, once known as the Ocean’s Six Group, one of the top teams in New Jersey.

Since the pandemic hit, many city dwellers have wanted more space since they have spent most of their time at home. Additionally, as more companies began to adopt work-from-home arrangements, the number of individuals wishing to purchase homes in rural areas increased, resulting in a surge in real estate sales.

On another note, Justin said that there is a high probability that businesses would relocate outside of the city as they gradually realize that they can manage their employees even if they work remotely. By doing so, they would also save money while still achieving the same level of productivity as if they had employees in the office. Justin predicted this two years ago, and it is now happening slowly in numerous cities around the country, including Raleigh, North Carolina.

RE/MAX Revolution

When asked what distinguishes them from other companies, Justin said that hiring a transaction coordinator was one of the key things that substantially contributed to their efficient operation. With one on the team, the other employees may concentrate on other essential tasks that they excel in, such as meeting with clients for sales agents.

He said they earned “Brokerage of the Year” because they were diligent about tracking the deals per agent. They didn’t have many employees, but they had more than enough to get things done. If you’re new to the company, you’ll be put to a team where you’ll be given leads and trained. As a newcomer, you’d have to close at least ten deals in your first year, and if you can’t, you may not be a good match for their company.

According to Justin’s experience, people are more productive and effective if they remain in their lane and concentrate on what they do best.

Social Media Strategy

Justin said that the most challenging aspect is deciding on the content when it comes to their social media strategy. To oversee production, they hired freelancers such as videographers, thumbnail designers, sound technicians, and editors. They also recruited a social media manager who manages his own team to assist him with running social media ads and chatbots.

He said that their company is growing since no one is leaving. The employees are happy with their jobs since they are not pushed to do things that are not part of their job description—they get to do want they are best at.

Media Company

Justin’s desire to launch a media company began with a vision six years ago. He suggested the concept to one of his business partners, who thought it wouldn’t work; nevertheless, Justin said that many people are doing it now, so they finally decided to begin with their plan. The idea is to highlight their local attractions so that when people decide to look at properties in the area, they know the best spots to visit.

Their company will primarily concentrate on producing content such as the top five list of must-see restaurants, the top ten list of summer activities, the best areas to visit in New Jersey, and the best beaches, just to name a few. He also intends to do one-on-one interviews with restaurant owners for behind-the-scenes content.

Additionally, Justin intends to create a website where they’ll transform their videos into blogs. They’ll also be running advertisements on this website, which will most likely begin with his friends’ companies.