Powered by MOMENTUM MEDIA
realestatebusiness logo
Home of the REB Top 100 Agents

The 4 phases of real estate

By Tim Neary
17 January 2017 | 10 minute read
triple houses dollars

The best real estate agents follow a similar life cycle. Industry expert Tom Panos explains the cycle, saying that there are typically four unique phases of real estate.

1. The Launch Phase

Phase one is when a real estate agent is just starting off, Mr Panos said on his Real Estate Gym series. 

“At start off, they are beginning to develop their own personal brand and have a really high willingness and appetite,” he said.

“They are not so skilled, but starving for knowledge. They are learning everything – what they have to send and what they have got to say to potential vendors to get into more doors.”

This is the phase where agents starting out learn about the basic fundamentals of buyer management and how to qualify a buyer.

2. The Growth Phase

Mr Panos said if agents are successful and generate enough revenue in those early stages, they slowly make the transition to the growth phase.

“Here, growing their real estate business becomes their number one goal,” he said.

“In the growth phase, they start looking at building their own personal branding in their local market place [and] getting known to at least 50 per cent of the owners in their farm area.

“If 50 per cent of your owners know you, they will tell the other 50 per cent about you.”

3. The Pinnacle Phase

The Pinnacle Phase is when agents start making big money in real estate, Mr Panos said.

“This is the cash cow of real estate,” he said.

“And if you can stay in this phase and get momentum, you can stay in it for as long as a decade.

But Mr Panos warned, “Staying in momentum is easier than getting into momentum.”

4. The Fading Star Phase

Mr Panos pointed out that some agents move out of the Pinnacle Phase as their energy and motivation to do the work declines.

“Here, they move into the Fading Star phase,” he said. 

“They may have been a million-dollar agent, the attraction agent in their marketplace, but they get burned out and they are not enjoying it anymore.”

At this point, the Fading Star can only go in one of two directions.

“They either disappear completely or they transform themselves.”

“The comeback can be stronger than the setback for many of these people.”

The 4 phases of real estate
triple houses dollars
lawyersweekly logo

Comments powered by CComment

Do you have an industry update?