In the 275th episode of Mail-Right Show, Robert and Jonathan featured Tim Stout’s unique and compelling journey from the sports industry towards the field of real estate. Tim Stout used to be a world-class MMA fighter. He participated in 26 professional fights before he retired and focused on growing his network as a real estate agent. This shift might be a shocker for some, but it was convenient for him because he knew all about dedication and hard work. He built his team, Tim Stout and Associates, from the ground up.
Finding the Right Brokerage
Tim Stout has had several moves from different brokerages, which he explained as “nothing personal”. He emphasized that having a platform where one could grow and improve as an agent is essential. He decided to move from Keller William to Compass because it gave him an angle to develop his career further. He chose to pursue his career with Compass because from the first day that he worked there, he met up with the company’s massive hitters. He found it exciting and motivating to work with top-performers who can outdo what he does because, as a team, they were able to keep each other grinding. He noted that being together with people who can accelerate his business was a big deal for him, and it shows how much he could learn from the people he works with.
He became a managing coach wherein he coached and managed his team in terms of marketing. When asked about how his move affected his career, Tim Stout was exhilarated because he and his team could close a total of 403 homes just in 2020; 300 houses in Newman and 103 in Tennessee.
Strategies and Platforms
When asked about the strategies and platforms that he and his team utilized to manage to sell a total of 403 properties last year despite the pandemic, Tim answered that it was a combination of many things. First of all, tracking is everything. His team advocates for tracking because it helps them know plenty of things about every single one of their leads. They get to know where they came from, who nurtured them, where they went, and the duration of their conversion. He also stated that some of the primary lead references that gave them a considerable push were their paid social media marketing leads. They also took their time in retargeting and similar strategies that generated an increase in their performance. But if he were to choose his top 3, it would be social media, RSIO, and paid leads in the likes of realtor.com, zillow.com, and Google Adwords for their website.
Jonathan also asked Tim about the hassle that agents go through to get leads via Zillow, but Tim said that the platform has been changing its program lately. But he quickly followed-up by stating that Zillow will stay for an extended period, and there are two possible things to do: either partner up with the giant or try fighting with them. But based on his background in fighting, he advised everyone not to fight the giants.
Customer Relationship Management
Finding the right CRM for your company’s website might be challenging because you have to undergo several trials and errors to see what works for you. Tim Stout is no beginner in terms of managing a website and generating leads. He also stated that he has other companies that use pay-per-click strategies. He compares these companies with the ones that use CRM to see which one has the cheapest cost-per-click and better conversion rate. Once he figures it out, he will double down with that specific partner once he’s finished his six-month contract. He initially used Cinc, then moved to FollowUpBoss, and is now in partnership with BoomTown because it is more robust and automated.
Using His Sports Background
Jonathan asked Tim whether he uses his experience in sports when working in his real estate business. Tim answered. When he was still fighting, he did things most straightforwardly. He had a simple approach and a simple method of teaching. He brought his simplicity to his business by running each section differently without overcomplicating things.
One of the most important lessons that fighting has taught Tim is that he does not have to be the smartest – he has to be the hardest worker. Most of it boils down to how hard he educated himself. He told Jonathan and Robert that he does his best to read 50 to 60 books per year, and he has multiple business coaches that help with his career.
Team Leadership and Management
Tim firmly believes that who he surrounds himself with affects his career, so he does his best to be surrounded by successful individuals. He mentioned his supportive wife, who’s helped him through so much. He became more motivated because of her endless support. He also said one of the first employees that he hired – his director of operations. He praises her for being a detail-oriented person because she allows him to look at the bigger picture without dealing with intricate issues that helped his business grow more robust. He also states that one of the most critical aspects of business is when you are the weakest. Hiring people whose strengths were his weakness became a considerable part of his business’ success. He firmly believes that people with great work ethics are some of the best employees he has ever hired.
Starting His Real Estate Career
During Tim’s first year as a real estate agent, he managed to sell a total of 16 homes. He achieved this by investing in a solid coach and working 16 to 17 hours per day. He recalled that by being a hard worker, he earned what he has right now. He continuously grows and improves his abilities in different aspects. Once he masters marketing, he starts mastering speaking, and so on. He claims that there is always the next level to everything and that everyone can succeed.