What does it take to build an amazing top-producing real estate team in Austin? My next interview is with Todd Bailey of the Bailey Robb Group. Todd has been a staple in the Austin real estate community for two decades now. He’s built an amazing team and is ranked consistently as one of the top agents and teams in Austin.
We interviewed him about his experience as a solo agent starting out in leasing and building his business from the ground up to become one of the best teams in Austin.
About Todd Bailey
Todd has been involved in the real estate industry since 2004, when he first obtained his license. He started off by doing apartment locating and found it to be a lucrative business. As he gained more experience, he tried his hand at selling luxury homes but found it difficult due to lack of network. He then went back to apartment locating and started selling a few houses as well.
He went on to get his broker’s license and started his own brokerage with a business partner, focusing on downtown properties. They ran their brokerage for five years but had to sell the franchise rights back to their franchisor during the Great Recession. Todd then worked for a small brokerage before moving to Realty Austin, where he spent 13 years.
Throughout his career, Todd has experienced the ups and downs of the real estate market. He has learned to adapt to changing circumstances and has gained valuable insights into the industry.
Getting Into New Home Sales
Todd began his real estate career by doing a lot of work in downtown areas before transitioning into new home building and sales. This niche market came about through a friend of a friend who was dating him, and her father was interested in buying lots and building houses on them.
Todd followed them around for ten years as they built more and more houses. Despite the challenges of working with builders, Todd believed that agents needed to be aware of the big opportunities that came with it.
Builders could be challenging to work with as they tended to ask for a lot of marketing and website services while trying to beat down commission rates. However, working with the right builders could lead to years-long opportunities that could be beneficial in the long run.
Agents need to be careful when dealing with builders, but if they could qualify the right ones, it could lead to a world of opportunities.
Todd had also invested in a few new builds himself, further highlighting his confidence in this market niche.
Building a Top Real Estate Team
Todd started building his team by hiring an assistant and a buyer’s agent. He leveraged open houses and street traffic to attract potential buyers and build his business. He realized that as a salesperson, he was not good at handling details such as writing contracts and getting T47 notarized, so he hired an assistant to take care of those tasks.
Todd also stated how important it is to have a strong operations admin person in building a team, which should come before hiring buyer’s agents. Agents need to have confidence in the roles they offer their team members and communicate clearly about the expectations and opportunities of the position.
Starting the Bailey Robb Group
Todd enjoys meeting new people and hearing their stories, he believes that the people you meet can change your life and has used this belief to build his real estate business. When COVID hit in 2020, Todd and his real estate team were initially scared and unsure of what the future held. However, they quickly adapted to the virtual world and began embracing the new connectedness that it brought. They soon realized that the market was thriving and that they could continue to do well, albeit with some adjustments.
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Todd mainly focuses on listings due to his family obligations, while his business partner Julian tends to work with more buyers. The team consists of four people, including a director of operations who keeps everything running smoothly. While the market slowed down in late 2022, they remain optimistic about the future and are seeing steady activity in their business.
Todd’s Take in Today’s Real Estate Market
In the current real estate market, agents need to become experts once again. Todd believes that agents have become too reliant on the market catching their overpriced listings in recent years.
To be successful, agents need to go back to basics and learn how to do a proper listing presentation, and how to strategically position properties in the market.
To be effective, agents must be willing to have difficult conversations with their clients about pricing and presentation. They need to be honest with their clients about the value of their property and offer options for selling, even if it means not getting the highest possible price.
Todd advises agents to be aware of the changing market conditions and adjust their strategies accordingly. With the market fluctuating, agents should be prepared to tell their clients that selling now may not result in the same high returns as a year ago, but it could still be a good timing decision in the long run.
Austin Zoning
Todd has a strong belief that Austin’s zoning policies need to change to address the issue of affordability. He notes that zoning hasn’t changed in the last four decades and has contributed to the displacement of residents due to rising housing costs. Increasing density in the city is necessary, but it needs to be done carefully to ensure that it doesn’t negatively impact residents’ quality of life.
When asked about his thoughts on CodeNEXT, which allows for the construction of four units on a lot less than a quarter acre, Todd expressed his concerns regarding over-densification in certain areas of the city. These policies can exacerbate parking problems and intensify issues that already exist. Todd advocates for a balance between affordability and livability in Austin’s zoning policies, which he sees as necessary to address the housing affordability crisis.
What’s Next for the Bailey Robb Group?
Todd and his team are excited about their position after changing brokers and implementing a new database. They believe that going back to basics and using tools such as FollowUpBoss will help them succeed.
He is also excited about his buyer’s agent, Alex, who is moving into a Senior Agent role. Todd hopes that as his team grows, he can eventually move further out of production.
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