SC045: Rhyan Finch. REO’s. Doubling His Business Every Year. Expanding Into Building Homes, Flipping Homes, And Developing His Portfolio.
Play • 1 hr 27 min

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)

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