SC045: Rhyan Finch. REO’s. Doubling His Business Every Year. Expanding Into Building Homes, Flipping Homes, And Developing His Portfolio.

Rhyan Finch SUCCESS CALL

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Download FULL Running Time: 1:27

Website:

www.1stclassrealestate.com

Background:

Rhyan Finch is with Re/Max in Virginia Beach, Virginia. Last year, he closed 552 transactions with a total sales volume of 76 million. His average sales price was 138 thousand of which 10% were buyers and 90% were sellers. He operates a team with 21 members: 7 REO agents, 7 retail agents, 1 chief operations officer, 1 closing coordinator, 1 bookkeeper, 1 front desk, 1 virtual assistant, 1 courier, and 1 team leader.

Rhyan Finch the team leader of The Rhyan Finch Real Estate Team. He has been and agent for 7 years. He works the Hampton Roads market.

In this call, Rhyan talks about:

• Working as a plumber’s apprentice before his real estate career
• His fast start selling 4 homes his first month and 30 homes his first year
• His early work in property management, buyer sales, and traditional listing
• Early frustration taking 100 short sales listing, but only able to close 1 in 10
• His big break listing 22 REO homes on the same day and quickly building up to 150 listing in 6 months
• The financial stress of feeding a cash hungry business…and how he solved it
• Transitioning from field work to managing the team
• REO software that reduce time and staff needs
• Doubling his business every year (he sold 735 homes year-to-date)
• Expanding into building homes, flipping homes, and developing his portfolio
• Ambition to buy and flip 100 homes in the next 12 months
• Focusing on “savings’ and reinvesting in profit generating enterprises
• Saving 50% of every commission check
• Being married to a super successful wife
• The mental side of the business with a long discussion about self image
• His team structure including the lead agent role
• What drives a person to be successful, and more

2011 Stats:

• 552 closings
• 76 million sales volume
• 21 member team:
  • 7 REO agents
  • 7 retail agents
  • 1 chief operations officer
  • 1 closing coordinator
  • 1 bookkeeper
  • 1 front desk
  • 1 virtual assistant
  • 1 courier
  • 1 team leader

Niche:

• REO
• short-sale
• 1st time buyers
• referrals

(originally published on 11/07/12)