Ep. 46: Building a $100 Million Brokerage with Chris Watters

From sleeping on his girlfriend’s couch, Chris Watters built Watters International Realty, a team-based brokerage that has catapulted to the top of the Austin market. Focused on a team-based approach, Watters International Realty began opening branches across Texas and partnered with other successful agents and team leaders to close over $100+ Million in sales. Watters International Realty has been recognized by the Wall Street Journal and Inc. 5000. On this episode, Chris shares how he scaled the brokerage and why his model helps newer agents close more deals.

Key Market Insights

• In 2009, became a prospector by calling on expired listings
• Built a team model …real estate broker with hundreds of agents, where they focus on the number of agents
• Net income of seven figures back in 2015
• Replicated in a different market and took an agent from doing 25 deals to over 100 in first year, then 250 the second year
• Created a franchise system – Better Homes and Garden, Remax, Century 21
• Not really putting systems in place or investing in the agent
• Average agents sells 80-125
• Three main components of the team model: 1st is generating leads, 2nd is sales people, 3rd is training to close, 4th is closing and follow ups
• Marketing coordinator overseeing 1st base, inside sales team overseeing 2nd base, 3rd base meeting clients and giving presentations, Home plate is client follow up, along with client concierge
• Created an online training module to help agents
• Started by building a network of 22 real estate business owners and had vendors put money into a marketing kitty ($1,000 – $2,500 month)
• Looked to see who was advertising to generate leads and offered a direct marketing
• Flips 40-50 deals in Austin annually
• Problem is a lack of inventory right now
• Success is based on generating qualified distressed leads and closing them
• Spends $1MM annually on marketing in Austin alone

Bull’s Eye Tips:

Winning Your Market: Good coaching

Tracking Market Changes: Subscribe to Inman, RealMarketReports.com

Daily Habit: The Miracle Morning Habit – The One Page Strategic Plan

Resources:

Rich Dad, Poor Dad by Robert Kiyosaki – https://www.amazon.com/Rich-Dad-Poor-Teach-Middle-ebook/dp/B0175P82RA/ref=dp_kinw_strp_1

The Million Dollar Real Estate Team: How I Went from Zero to Earning $1 Million after Expenses in Three Years  

Inman 

RealMarketReports.com

Best Business Books:

The Miracle Morning by Hal Elrod

Scaling Up by Vergne Harnish  

Profit First by Mike Machalowicz   

Digital Resources

Yahoo Finance

Seeking Alpha

Tweet This:

“I wanted to build the Navy seals of agents”

“Pioneers get slaughtered, settlers prosper”

Places to Grab a Bite in Austin:

Uchiko Austin

Connect with Chris:

http://unbouncepages.com/chris-watters-preorder-book/

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