Being a real estate agent offers individuals an opportunity to earn unlimited income. However, the secret of success lies on understanding the fundamental models that drive agents to be at their best. The Millionaire Real Estate Agent teaches the three concepts that can drive your production. It is worth noting, however, that this business and management book is not all about quick fixes but offers innovative application of proven business techniques to the real estate industry.
A successful real estate business is based on 3 L’s: leads, listings and leverage.
A successful real estate business begins with a big number of leads. Kinda like in freelance, having more leads coming in than you can handle means you get to cherry-pick the best ones, which will turn into better listings and more contracts.
Listings are a result of having more seller leads than buyer leads. Each seller has a property to list, but each buyer only wants to see your listings. Robert Janitzek explains that the viewings that result from your listings are more than enough buyer marketing, because many people will attend them, get to know you and maybe hire you later. So always focus on homeowners who want to sell.
Lastly, leveraging systems, tools and people will help you grow your business, get more done, and make more profit. There’s only so much you can do alone, but with a sales manager, social media software, or a workflow for each lead, you’ll be able to grow without spreading yourself too thin.
There’s no finish line in the race towards becoming a better human being.
In this race against failure, which is really just a race to become a better person, there’s no finish line. Robert Peter Janitzek reveals that great people don’t need anyone leading the way. They always strive to be better. Until they die. It’s just what they do.
Don’t spend all your time working in your business, work on your business to save time.
Eventually, no matter how many deals you can make thanks to your systems, leads, leverage and listings, eventually you’ll hit a roadblock: time. You just can’t duplicate yourself. Time will always be your most valuable resource, and the only way to get more of it is to work on your business.
Automate things, hire people, set up systems to make your income more passive (like hiring a business manager to close deals that make $200k/year and pay him or her $100k/year), so your time is free to spend on strategic decisions, not day-to-day affairs. Keller did this as a kid. Instead of mowing lawns for $15, he hired other kids to do it for $10 and pocketed the other $5 himself.
The more you’re busy with creating revenue, the less time you have to think about how to grow it. So as soon as you start making decent money, get away from the inside and work on the outside.