Realtor 101: Closing 50+ Transactions In Your First Year – Coti Brown
On this episode of The Closing Table, we sat down with Coti Brown!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Coti Brown…
The conversation began with a word association icebreaker on appraisal software, developer, and more. Coti then talks about her team which primarily covers the Mid-Michigan area, they are currently experiencing a shortage in supply, which has driven up the average price point to $225k. However, it is also becoming increasingly difficult to find homes at that price point compared to four years ago when it was only $180k. Despite the challenges, the cost of living in the area is low, and the market is diverse and complex.
When Coti first started in real estate, her mentor told her that it was impossible to do 50+ transactions in her first year. Initially, Coti felt irritated and mad upon hearing this. However, instead of letting the doubt consume her, she used it as fuel to motivate herself to achieve her goals of financial security and freedom for her family. She was determined not to settle for the average, which is only around 6-8 transactions per year for many agents. Reverse engineering her goals, Coti achieved about 50 transactions in her first year, and to this day, that frustration of hearing doubt from her mentor fuels her to strive for greatness every single year.
For Impact Agents, their brokerage stands out from others in the market by taking a unique approach to give back to the community. After every closing, they give their clients the option to choose where a portion of their commission or time will go, allowing them to make a positive impact in their community. Coti has been doing this since day one, even before she established her own brokerage. Moreover, she believes in the importance of standing out from the competition by showing people what makes them different and focusing on building their brand.
In terms of recruiting agents, Impact Agents looks for individuals who prioritize building relationships and serving people over just making money. They believe that when you focus on doing the business, the money will follow. Kevin then asked Coti what was it like working with a significant other. She admits that the first year was difficult. They found it challenging to manage tasks as they both shared the same mentality of serving each other. However, they were able to overcome this by discussing the situation and distributing tasks that they each focus on.
Following that, Coti notes that it’s crucial to know how you get paid and the fees and resources required for each transaction. She stresses the importance of understanding your numbers and building your business independently, even if it means starting from scratch in a brokerage that shares your vision instead of just joining a brokerage where there is someone you know who works there to guide you. When you do your homework, you can learn and grow while building lasting friendships in the industry.
As a successful real estate agent, Coti shares her expertise and experience through various platforms, including teaching other agents across the nation her simple online/offline IMPACT model to grow their business. Coti emphasizes the importance of focusing on building relationships with people rather than just focusing on buying and selling. She spends time getting to know her community and providing help where she can. Both offline and online, she makes an effort to connect with people, follow them, and engage with their posts. She also stresses the importance of balancing online and offline efforts to grow your relationships and business.
The conversation wraps up with the two talking about Coti’s belief that passion and enthusiasm can overcome lack of knowledge or experience. She encourages people to not be afraid to put themselves out there and learn through experience. She believes that the best way to learn is by being in the trenches and listening to others. By immersing oneself in the field and being passionate about learning, you can overcome the lack of knowledge or experience and achieve great success.
Check out Coti Brown:
https://www.facebook.com/coti.brown
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