Real estate might be one of the great methods for building wealth, but that doesn’t mean it’s easy to grow value within your real estate business. We all have to learn tough lessons as we try to build an agency or firm, but hopefully we come out of it much stronger.
Today’s guest has a great handle on the financial side of the business but it didn’t happen immediately. Ty Voyles is the CEO of Fulcrum Properties Group in Washington D.C. and someone we’ve collaborated with in the past. As he’s built the business alongside his partners, they’ve tried different financial structures for team members but not all of them have been successful. But they pivoted into one that did work and have leveraged that to grow into the business they have today.
This episode will dive into those different ways to build enterprise value and what it takes to find and keep strong agents on your team. We all have an idealistic vision of how to make this happen, but what is the reality of that? We’ll learn all about it today with Ty.
Here’s some of what you’ll learn in this episode:
- How he started as a project manager with the government before looking for something with a faster pace, which is how he moved into real estate and built the business. (1:28)
- How they structure pay for their real estate agents after learning from a mistake early on. (6:31)
- The financial structure for a business with 3 co-owners. (10:56)
- Building a real estate team – idealism vs reality. (20:00)
- What is the value proposition for Fulcrum during a turbulent market to attract agents to the team? (31:27)
- How often should you be checking in on the financial health of your business? (41:21)
Learn more about Ty: https://www.fulcrumpg.com/about/ty-voyles
CONNECT:
Need help on the personal side of your finances? Work with Jordan here:
https://www.quantumplanning.com/financial-planning-for-top-producing-real-estate-professionals/
And if it's the business side where you need the most assistance, check out Michael here:
https://kilneradvantage.com/
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