Podcast: Succession Planning for Real Estate Agents

Whether you’re looking to take your real estate business to the next level or are ready to start thinking about retirement, this episode is for you. On today’s podcast, Stephanie Heiser interviews Jessica and Justin Ball about succession planning for real estate agents. Tune in and learn more about one of the best lead sources in the business. In addition to talking about inheriting another agent’s book of business, Jessica and Justin explain why all agents should have a succession plan of their own.

Listen to today’s show and learn:

Commercial and residential real estate compared [3:48]
About The Jessica Ball Team [4:15]
Succession planning for real estate agents [7:00]
How Jessica and Justin wrote Succession Planning for Real Estate Agents [9:43]
Inheriting another agent’s sphere of influence [11:51]
About Jessica and Justin’s book on succession planning [13:47]
Why broker owners should know the ins and outs of succession planning [16:38]
Jessica and Justin’s experience inheriting other agents’ business [17:54]
How to find the right successor [26:22]
Jessica Ball’s start in real estate [31:00]
Co-marketing and co-branding [33:52]
Why all agents should consider a succession plan [34:54]
Bringing different skill sets together for a successful business [37:40]
Getting over the fear of growth [40:34]
Jessica and Justin’s goals for the future [49:19]
Where to learn more from Jessica and Justin Ball [51:45]

Jessica and Justin Ball

Jessica Ball is a Realtor, the president and team leader of The Jessica Ball Team – RE/MAX Traders Unlimited (BALL HOMES LLC) in Peoria, Illinois, a speaker at national conferences, and has worked through several succession plans with seasoned real estate agents to transition and monetize their books of business as they retire from actively selling real estate.
Throughout the first succession plan, Jessica and her team were able to improve on the succession plan that her partner had gone through 15 years earlier when he had done a succession plan with another retiring agent. The planning for this succession is what really started this book as she realized the lack of information for other real estate agents, their successors, retirees and others in similar positions in the industry.

Justin Ball is a Realtor, a commercial broker with The Jessica Ball Team RE/MAX Traders Un-limited (Ball Homes LLC), and serves as a Vice President of Bradley University. His background in customer relationship management (CRM) systems, marketing, lead generation, and sales funnels supports the team as it continues to grow and as the industry of real estate changes faster than it ever has with the introduction of new technology. He contributes to succession planning most di-rectly in helping to facilitate co-branding and co-marketing efforts, as well as valuing the book of business for beginning to craft an initial succession plan contract.

Related Links and Resources:

Thank You Rockstars!
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
-Aaron Amuchastegui