On this episode of Real Estate Indsiders Unfiltered, Phillip Cantrell, founder of Benchmark Realty — with 2,000 agents with $5 billion in sales — shares his blueprint for building a massive fee-based brokerage from the ground up, starting with one desk in his living room.
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A self-professed “98 percent left brain” analytical thinker, he discusses overcoming a career-crushing failure in 2008, the crucial concept of “the power in the pause,” and his philosophical core: Money is the scoreboard of service to others. He offers unvarnished advice for anyone considering selling their business.
Highlights
Cantrell recounts the critical turning point in 2008 when the mortgage crisis hit and his largest builder client poached seven of his 13 agents, leaving him “staring at the abyss.”
This failure forced a radical pivot from a traditional 80/20 split to a fee-based model, which allowed for extreme profitability through scale. He focused on attracting experienced, high-producing agents and prioritizing excellence and training over technology.
His key to overcoming adversity is the philosophical concept of “the power in the pause.” He explains that between stimulus and response, there is a space where leaders choose their reaction. The difficulty is that humans are “lazy” and automatically respond without thinking.
As a self-professed 98 percent left-brain thinker, Cantrell systematized every aspect of the business, viewing documentation (compliance, onboarding, etc.) as crucial to the brand’s culture and scalability.
Cantrell sold Benchmark to United Real Estate Group in 2020. He advises that anyone considering selling must be prepared for rigorous due diligence (being “stripped down naked”) and must ensure their systems and financials are clean.
He maintains his consulting role with United (EVP of Strategy) to keep CEO Dan Duffy “grounded,” underscoring the importance of finding partners whose strengths plug your weaknesses. His leadership philosophy is based on the speed of the leader and maintaining an internal code of ethics: “You muck up, you’re out of here, son.”
His book, Failing My Way to Success, details his business history (four wins, six losses) and teaches his core principle, inspired by Earl Nightingale: Money is the scoreboard of your service to others. By focusing on service and meeting needs (“help enough people get what they want”), financial success follows naturally.
Real Estate Insiders Unfiltered is now exclusively on Inman. Tune in for agent- and team-focused content on Mondays and leadership interviews on Wednesdays each week. Listen on Apple or Spotify.
James Dwiggins is the Co-CEO of NextHome, Inc. and co-host of Real Estate Insiders Unfiltered.
Keith Robinson is the Co-CEO of NextHome, Inc. and co-host of Real Estate Insiders Unfiltered.
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