In this episode of the Franchise My Business podcast, Kevin features Rhyan Finch, the Owner, and CEO of 1st Class Real Estate. He talks about his business model which started with them giving it out for free as a proof of concept until its current iteration with 100+ locations and 1400 agents.
Rhyan shares the challenges of being too many things to too many people, but on the other hand, solving a variety of problems just as well. He recalls how they pivoted to virtual ahead of the curve when COVID hit and how focusing on profitability makes the difference between just growth and actual success.
HIGHLIGHT QUOTES
Offering ancillary services as a service – Rhyan: “We can take one key player, whether that’s training on our CRM or the training on our transaction management, or the training on sales, and so ultimately, everyone kind of goes in and has a lane in what they do. We onboard and offboard their people so it’s just frictionless for them that it’s having that extra person. We help them with the accounting side of it. So then we have other ancillary services, so even while that’s it, we’re doing services as a service.”
A disruptive model for franchisees and agents – Rhyan: “We want our franchisees to own a real estate company, a mortgage company, and a title company. And we want them to give them a hundred percent commission, we want them to make money. They own the lion’s share of mortgage and title.”
“So now the hundred percent agent gets all the money into that, but then they share in equity and mortgage and title, depending on the state, with the agents. And the agents getting 3 checks and a hundred percent commission which is just disruptive.”
Connect with Rhyan and learn about their sales positions:
LinkedIn | Facebook | Website | Book
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