What if I could give you 1 day back per week? If you have another 52 days a year, what would you do with your time?”
Samantha McLean talks to Sharran Srivatsaa, CEO of Kingston Lane, about why he got into the business of real estate, what he learned growing Teles Properties by 10x, how he used content marketing to motivate his team, how to value businesses and why you need to think of your own exit plan in 7-year cycles.
‘Elevate’ is the official podcast of Elite Agent Magazine for real estate industry sales professionals, property managers, and leaders. Each episode, we will bring you behind the scenes coaching, news analysis, exclusive interviews, technology, and more to help you list more, sell more, and elevate your results.
SHOW NOTES / LINKS
03:00 The start of Sharran’s career in real estate as an investor in Teles Properties
05:00 From investor to partner of Teles Properties
06:30 Running a real estate business without any prior knowledge
07:00 “…if you understand the sensitivity of the numbers in the business, you understand the business.”
09:00 Establishing a value-proposition as a filter for recruitment: “What if I could give you 1 day back per week? If you have another 52 days a year, what would you do with your time?”
13:30 “We always delivered so we didn’t have to do anything different. We just kept our promise.”
14:00 “Instead of each office and office manager or ops manager or sales manager onboarding an agent, we are going to have a dedicated onboarding concierge.”
15:00 ‘The cadence of evangelism’; Teles (now Douglas Elliman) hosts a 9am coaching call, 5 days of the week for employees. Available as a podcast here.
18:30 The ‘right time’ to sell Teles Properties; “We were growing to the point where our partners and our management team didn’t have the capacity to manage any more growth.”
20:00 The personal risks of exponential business growth for Sharran
21:00 “We needed a partner who could do something that we couldn’t do.” The road to Teles’ acquisition by Douglas Elliman.
25:00 Exit strategy advice for real estate principals and business owners
26:00 “As a principal thinking about selling … you want to set up a plan where you can sell the business 3-5 years before you actually need to be out of it.”
28:30 “Whatever we measure and report improves exponentially.” Building a ‘camaraderie of accountability’ by tracking yesterday’s, today’s and tomorrow’s numbers.
30:00 Sharran will be speaking at The Business of Real Estate conference on September 3-4. For more information visit thebusinessofrealestate.com.au