10 Key Mindsets for Agents to CRUSH IT During Uncertain Times

Is it possible to do social media in a way where you can generate multiple transactions per month? Yes, it is. Problem is, most agents like they understand that they need to do it, but they don't go deep and they're not consistent with it. So going deep and not wide, if you're going to pick one other legion lever outside of your database touch system and your brand authority builder, social media, what's that one thing that you're going to be world class at?

The real estate industry has failed to create a clear path to time and money freedom. Having helped over 5,000 families in my real estate career and coached thousands of agents to scale their businesses, I know what works and what doesn't. And my goal on this podcast is to share all with you the good, bad and ugly of building a highly lucrative lifestyle business so you can focus on what truly matters in life. You won't find any hype or fluff on this show, just real world tactics.

And strategies that get results. You just got to do the work. What's up, real estate business builders? Let's get after it. Today I want to go through the 10 key mindset shifts that you must consider if you want to crush it during really chaotic, really uncertain times. So I am not a fudge dealer and FUD is fear, uncertainty and doubt. There is way enough fear, uncertainty and doubt in the news with what's going on in the world and the sort of global macro, you know, geopolitical, all of that stuff. The markets are sort of taking a skid here because of some of that you've got, in the real estate industry, you've got the NAR settlement and the shakeout and fallout. And some agents are excited, some agents are freaking out. And so there's so much uncertainty right now and really always, right? So it's, it's when times are too good, that's when it's like, okay, what's, what's going to change here? But today I want to go through 10 things that you have to sort of pay attention to if you're not going to succumb to the fate of most agents. So at, at worst, I think a million agents might leave the industry. Probably not a million. There are estimates that at least 500,000 agents will leave the industry. I think it's mostly mindset, right, because they're fearing this change here with the buy side and they can't even handle or contemplate what it's going to look like. And we've already had people sort of opt out of real estate altogether. And so mindset is the thing that's going to get you there. And, and so let's go through these 10 key mindset shifts and there's a lot to unpack here. I'm trying to forget. If I just forgot something. We actually did a training in our, I do a weekly mastermind trading for folks in my world and we just did a training on this. We kind of went through this exercise of, you know, what, what is your natural sort of like tendency when it comes to, you know, some of the fear and uncertainty and things changing and when things get a little bit crazy, how do you naturally sort of show up? Most people. So most people, the general population and most agents, they nobody likes change. I'm wired in a way. I think it's because I had a challenging childhood where I had to sort of like figure stuff out on my own and you know, I had to make a way and I chose a path of achievement and you know, so I think I'm just wired for change and I just embrace it and I'm like let's go, let's get after it. But most people do not like change. They like things the way they were. They like meeting a buyer at an open house, not having to talk business with them, just agreeing to show them a few more houses and if they find one that they like, there's a massive paycheck waiting for them in the co broke right in MLS and all that's changing and I think we're probably due for who knows when, right? But we've been, what is it, 2010 or less? So at least 12, 13 plus years into like real estate market has gone straight up and you know, interest rates, yeah they, they, they may be tempered it a little bit but even in most markets you're still in multi offer situations because there's not enough inventory out there. So it's just a crazy, crazy time. So these mindsets are the thing that, that will save you and get you through it. That's my, that's my, my bottom line here. So let's go through number one mindset. You are a business owner, right? If you want to achieve true freedom. And the last training or episode that I did was the traits of a million dollar agent. I don't think I went through this one specifically but you know, when you think about building a business that gives you massive mass financial freedom and also time freedom, right? So working no evenings and weekends and still taking home an extra 20, 30,000amonth to put into your savings or to spend on vacations above and beyond what your lifestyle costs. That's the level of financial freedom that I'm talking to. You have to approach it as from a business owner mindset, right? So think of it. Even though you're doing all the jobs in the business, you have to think about, okay, I, I can't be the one showing homes. What if I had 10 active AAA buyer clients? I can't show them all homes, right? What if I, you know, had to take 10 listings in a week, I couldn't enter all those listings, I couldn't go out and shoot the photos, I couldn't go out and you know, so you have to start thinking as a business owner today if you're really going to achieve any level of freedom. That's number one. Number two is you are a marketer. You're a marketer. The core two systems in our million dollar agent method and if you ever want to learn about that program, just go to milliondollaragentmethod.com the first two lead gen levers we've got 12 fully built out. But two we required you to install are your database touch system and the Brand Authority Builder which is social media. They're both intended to attract. All of our lead gen levers attract business to you, right? So you've got to think of yourself as a marketer. What did I do today to market myself and generate inbound leads, right? That's what a good marketer does. So that's number two. Number three is that it's this mindset of creating new business every day. Now technically that's sort of a time block on your calendar. But if you don't embrace this mindset of like, okay, I have to be the engine of new business development. So the mindset is that it relies on a hundred percent on me to have meaningful conversations every day no matter what. Right? And those conversations are easier if you have inbound leads, if you're, you know, employing or deploying lead gen levers. But it's this mindset of new business development no matter what. New business development, right. The number of meaningful conversations with high quality buyer and seller leads every day, that's number three. Number four is that you have to develop a mindset of turning your time into serious money. Now I don't have time to go through the whole exercise, what we call the business freedom index, but essentially we've got an index where if you know what you're making all in from all your real estate activities, right? This is pre tax, pre what you might pay yourself. I Take it from my AGI and my tax return. So the adjusted gross income on your tax return is, is a pretty good measure. Even if you put some expenses through your business, it's still the adjusted gross income. So before you pay taxes, that number divided by the hours that you worked in the whole year, that's your Business Freedom Index. I was able to turn mine into $3,300 per hour where I started less than $20 per hour. So if you're working a 50 hour workweek and you take two weeks of vacation, there's 50 work weeks. That, that's, that means you're working 2,500 hours in a year. If you only made, let's say you made $100,000 AGI divided by 2,500, that's 40. Your business freedom index is $40. If you want to go from $40 to $200 and work less hours, right? So if you want to go from 40 to 200, you could just reverse engineer the math. $200, be it Business Freedom Index times 2000 hours, which is a 40 hour workweek, is $400,000 of AGI. So that requires that you think about your business entirely differently. And we've got, I'll go through in some, some other mindsets here on what you need to think about differently in order to be able to achieve that level of bringing your hours down to more reasonable work week from 50 to 40 and then increasing your income from 100 to 400. So your BFI, your business freedom index goes from 40 to 200. That's the kind of game we play inside of million dollar agent methods. So that's number four. Number five is you must know your numbers, right? Think about this. You hire the best. Let's say you're not in physical shape and your life depends on you. You've got 12 months to get in the best shape of your life or you're not gonna, you're not gonna live, right? Let's, let's say you're just, it's that bad. And let's say you hire the world's best coach to coach you in the area of your physical journey. Is there any chance, any chance whatsoever that this world class health coach would leave it to chance that you were doing the right things with your diet and your workouts without tracking your numbers, right? You would track everything you ate. You would track every workout. I actually, I've got one of these. I've got two things. I've got an apple watch. So I track every workout. I do two Types of workouts, strength and a high intensity interval. And then I've got, you know, my whoop four that tracks, you know, my, all these other things, my recovery and my sleep and all of that. So in my, in my analogy, is there any chance that you'd be able to, without a shadow of a doubt, guarantee that you can get your health in peak physical shape in the next 12 months if you didn't know your numbers? Zero chance whatsoever. Yet in business we slide and we let ourselves off the hook because we're our own coach a lot of times. Now obviously in Million Dollar Agent Method we have something called a performance dashboard. We've got 17 metrics that we track on your behalf seven days a week to make sure that you're doing the right things on social with your database, you know, and we track everything. So knowing your numbers is super, super critical. So that's number five. Number six, systems are the solution. So I talk about business owner and I talked about marketing and I talked about, you know, creating new business and turning time into money. Systems are the time blocks you spend building your business. We call it working on your business. It's a book by Michael Gerber called E Myth Writing Revisited. We actually send it out to Million Dollar Agent Method members and they don't give you the, the roadmap how to do it in that book. But it's this mindset that if you want to build a business, you know, worth owning so you could live a life worth living, you've got to build it around systems and get yourself out of the 80% of the things that have to get done as a real estate agent. But they're not really dollar productive, right? So the 20, 20% of the things you do generate 80% of your income, you know, so really you need to focus on these systems. And now in Million Dollar Agent Method we've got four pillars and this is how every business needs to be thought of even if you never become a private client. It's what we call leverage. Lead generation is number one. The appointment setting process is pillar number two. The consultation frameworks are pillar number three. And then leverage client care is pillar number four. Now we've got all the systems, we help you implement them all inside a 90 day period. But that's how I want you to think about your business. Do I have lead gen levers running consistently? Do I have my appointment setting process, my scripts with my sphere, my scripts with different lead sources? Do I have my lead nurturer, lead management, lead protocol sequences running? That's Second pillar, third pillar, do I have my buyer consultation framework, my pre appointment packets, my buyer packets, my pre listing packet, my listing process, everything documented and completely dialed in on the sales front. And then if I get too busy, do I have any leverage around checklists and you know, maybe a VA helping me, helping me with button clicking, getting listings online and you know, setting up showings and all the button clicking that goes on inside a real estate agent's world. So those four pillars, that's the essence of this number six here, that systems are the solution. The that was number six. So number seven is this mindset that you have to stop chasing squirrels. A squirrel in business is anything that takes you off the path that you need to be on. So your next best move, the thing you need to do next in your business may not be changing CRMs or you know, doing this webinar on like hey, I'm gonna guarantee you list 30 listings in the next 30 days. When you know that your next move is just building your database out or you know, getting comfortable on social media and doing the right types of posts that actually generate engagement. So you can generate consultations on social media or other Legion levers, new construction or motivated sellers or social proof or you know, client care is a lead gen lever or your yard marketing system or you know, direct response fizbos or expires or whatever. Right. All of these are things that you could be working on your business but you, you have to drown out everything else so you can put the systems into your business that allows you to achieve that leverage so you can make more money in less time. All right, number eight is that this mindset of and it's a little bit along the lines of chasing squirrels, but going deep and not wide. Right. When I ran the team that had 10 producing agents. So it was my business 100%. We did 453 transactions. I had 10 producing agents. I worked one day a week when I was in town that year. So you may never want to build a version of that. This point still applies to you. The year my first full year in real estate was 2008, I sold 44 homes and I worked most evenings and weekends. And so seven days a week, probably worked 70, 80 hours a week. I was building systems at night. It was a crap show. Um, when I did, I did that on one lead gen lever, 44 transactions. When I did 453 transactions where I had delegated and elevated out of all these different positions, I had 10 producing agents, but I only had like five or six lead gen levers to produce 450 plus transactions. So my point there is that you don't need to do more things, you just need to do the right things and a very deep level. I mentally, from a mindset perspective, I wouldn't start down the path of a lead gen lever unless I knew that I could do 50 transactions a year from that one legion lever. So a good example, like is it possible to build a database? It may not happen in year one, but to build a database and provide value to the database and ultimately sell 50 homes a year doing it 100%. 100%. We've got agents doing 250 plus transactions from that one per year from that one legion lever. They didn't start there. Right, but, but that's a. Yes. Social media, we call, we call it brand agent, brand authority builder. Is it possible to do social media in a way where you can generate multiple transactions per month? Yes, it is. Right. So those are two Legion levers that are worth going way deep on. Problem is most agents like they understand that they need to do it, but they don't go deep and they're not consistent with it. So going deep and not wide, if you're going to pick one other Legion lever outside of your database touch system and your brand authority builder, social media, what's that one thing that you're going to be world class at? Right. We've got a member that did 200 fizbos in like a 5 year period or something like that. Right. So he committed like he's going to be the best at that one thing. Remember that, you know, took 30 listings in 90 days just using her cell phone and doing Facebook lives. That's it. Right. So what's the one thing you're going to get so good at that it becomes your thing that could generate multiple transactions per month that's going deep and not wide. I've coached mainly guys, it seems like they just, they think that okay, if, if 10 lead sources are better than 5, 20 are better than 10 and they're spending so much money they're so far out of economic model. And you might have experienced this as well as well where you're just not, you're spending money on leads but you're not, you're either not going deep enough or they're just crappy lead sources and it's not even worth developing the systems around it because the conversion rates are what, well below 1%. There are guys that I know pretty well that are selling systems, sort of funnel systems where, you know, new construction buyers, where I'll run the traffic for you, I'll design the landing pages. And their best clients are converting at less than 1%. So I would gather, and I don't know this for a fact, but I would gather for every 50 clients they have doing this system, there's probably 40 that get no results. Eight or nine that gets some results. And the one that they are putting on a pedestal and is crushing, it has like three virtual assistants working through all these leads and there's all this tricked out tech and it's, it's an okay system and there's leverage around it, but it's not how I would want to play the game of real estate. So go deep, not wide. Ninth key mindset is guard your mind. So real quick examples here. This thing I'm holding up, my cell phone is the, probably the number one thing that's going to get in the way of you achieving any level of freedom in your life, whether it's time or money, freedom or freedom from stress. The 24, 7 news cycle, social media, for me, it is YouTube. I can go down the rabbit hole on YouTube. I can go crypto. I love everything about crypto. It's just really exciting to me. The ups and downs of all of it. Like so, so that's my thing. But I have to be careful, like how much time and energy am I putting into something that isn't really leading me closer to meaningful goals in the areas of life that truly matter. So guard your mind. Are you watching news? Are you on social media? What news sources are you watching? There's a really good news source. It's a five minute read every day. It's called the Pour over. P O U R the Pour Over. And I think they have a five minute podcast every day. So basically you get three news stories of the day and I think it's only five days a week. I think it's daily, but at least you'll know what's going on. And it's less than five minutes a day. And so that's one thing to consider. And then the 10th mindset, and you cannot avoid this one, is that you must do the work. There is no shortcut to financial freedom. There is no shortcut to success in real estate. You have to be disciplined about your time blocks and honest, be honest with yourself. I'm like, am I doing the actual work of a high, highly successful top, like pro level salesperson? Like, did I do the work today of a pro level salesperson, let alone real estate? Like in the whole realm of like the best salespeople in every industry, am I doing the work necessary to compete at that level? And then if you're not, be honest with yourself and just give yourself grace. There's no shame, there's no blame. But be honest with yourself about where you're at and make a move to do something different in the future. For some of you, that thing is to jump on a strategy session. My right hand guy, Ryan will get on a call with you and talk about your business. It'll be a valuable conversation. Go to milliondollaragentmethod.com that's million dollar agentmethod.com we only work together for 13 weeks. It's a you get every document, every system, every lead gen lever, all the lead nurture sequences. There's no paid leads, there's no cold calling, there's no door knocking everything. You will need lifetime access. But we work together all the updates and upgrades forever. We work together for 13 weeks to get all of these lead gen levers, all these lead nurture sequences, all the sales frameworks installed in your business and all the client care systems as well. So it's a phenomenal journey, but it starts with a, you know, low pressure conversation just to see if you're a good fit and if we're a good fit for each other. So go to milliondollaragentmethod.com and we'll see you over there. Be good.