We recently connected with Remington Lyman and have shared our conversation below.
Alright, Remington thanks for taking the time to share your stories and insights with us today. So, folks often look at a successful business and think it became a success overnight – but that often obscures all the nitty, gritty details of everything that went into the growth phase of your business. We’d love to hear about your scaling story and how you scaled up?
My company has grown significantly over the years. We started with just two agents in 2019 and have expanded to 39 agents today. Key factors that contributed to our growth include the use of virtual assistants, effective technology, and well-defined procedures.
You can hire a virtual assistant for as little as $3 an hour. The virtual assistants who have been with me for years are now earning $10 an hour, which is a great wage considering the cost of living in their regions. They are very happy to work for this rate.
VAs have strong work ethics, excellent language skills, and I believe VAs perform better than most local assistants I’ve worked with in the past. However, it’s important to note that even the best employees can only be as effective as the procedures they follow. I created detailed procedures that allow someone to manage my book of business while I’m on vacation. These procedures cover any questions that might arise, ensuring that the person covering for me has the necessary information.
Lastly, the technology we use in our business has been crucial. Every aspect of our operations is supported by technology, whether it’s our CRM system or our electronic document signing software. Each tool we implement is designed to make our jobs easier and more effective. The combination of virtual assistants, technology, and established policies and procedures has been instrumental in building the successful business we have today.
Remington, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I got into real estate investing shortly after graduating college. My roommate and I always wanted to start a business, but we didn’t know which one to pursue. Coming from finance backgrounds, we realized that paying rent each month was simply an expense that didn’t contribute to building wealth. This realization led us to decide to purchase a duplex. We moved into one half of the duplex and rented out the other side. Initially, we made a profit of $50 a month after covering all our expenses, allowing us to live rent-free. After that success, we decided to buy another property, and from there, things really took off.
How’d you meet your business partner?
I met my co-founder and business partner through cold calling. After purchasing my third house, I started reaching out to property owners in my area to see if they were interested in selling their properties. During this process, I connected with a guy who referred me to his realtor, Jeff Tindall.
A few months later, after I had been laid off from my job, I met with Jeff. He had a broker’s license but was running his brokerage alone. After getting laid off, I decided to obtain my real estate sales license. I needed to interview with a brokerage that would hold my Realtor license. I explained my situation to Jeff, and he offered me a position at his brokerage, allowing me to essentially run it. He mentioned that once I obtained my broker’s license, he would transition me to the broker of record.
This is how I met my business partner.
How’d you build such a strong reputation within your market?
One of the key factors in building my reputation in the market is my access to off-market deals. While many agents rely solely on the available listings or referrals from past clients, I actively reach out to property owners directly to see if they are interested in selling their homes. This cold-calling approach enables me to access deals that other realtors may not have the opportunity to pursue.
Contact Info:
- Website: https://www.reafcorealestate.com/team/remington-lyman
- Instagram: https://www.instagram.com/realtor_remington?igsh=bDFzOHcyamhvZGtw
- Facebook: https://www.facebook.com/realtorremington
- Linkedin: https://www.linkedin.com/in/remington-lyman/
- Youtube: https://www.youtube.com/channel/UCkeFdYTaDBqT-5qK_tndb0Q
- Other: https://www.tiktok.com/@remingtonlyman?_t=8jkIZRYg7n4&_r=1
