$254,000 Dollars in My First 10 Months in Real Estate

The average real estate agent sells six to eight homes per year. So they're making roughly 60 to $80,000 before expenses. In today's video, I want to break down how you can make $250,000 or more per year as a real estate agent. I was able to do 254,000 my first 10 months in the business. I scaled the business to over $3 million a year on the right economic model. And I want to unpack this for you. There's only a handful of things that you need to focus on to be able to pull this off. And this is despite the weird market that we're it is uncertain and squirrely and just crazy economic times. I don't think it's going to get any better. I think a lot of agents are going to get out of the industry. There's so much fear, uncertainty and doubt going around. The FUD is going to get the best of most agents and I think that's where the opportunity lies. So before I get into it, please subscribe to the channel, like the video and share it with other agents that you think might be struggling right now. They want to grow, but they don't know how. So specifically in today's video, I'm going to cover four things. First are the lead sources you probably need to be using to break through the $250,000 a year in a single year as a real estate agent. The second thing is the calendar that you need to follow. So there's definitely a rhythm to your day, a cadence that you need to follow. The third, the good habits that you need to install and start following if you're going to crush your financial goals. And the fourth, it's the things you probably need to start stop doing. And these are the things that are holding you back from achieving your financial and growth goals. So the first thing you need to focus on if you're going to ramp up your production are the lead sources like who are you going to do business with? You know, what are you good at? There are six or seven, maybe eight lead generation levers in real estate B school. So these are when I call something a lead generation lever, it's good for at least two transactions per month with the possibility and most of these lead gen levers can go to four transactions per month once they're fully installed in your business. So you need to decide which of these lead generation levers you're going to install in your business. A simple example, it's an open house system, not the traditional where you sit there, nobody comes in. But how do you turn an open house into at least one closed seller and one closed buyer? Just by doing that open house, not selling the home itself, but just by holding an open house. How do you turn it into two additional transactions? Another is social proof. How do you get your clients, your past clients saying such great things about you that you're able to use that in your marketing and turn it into an additional transaction? Another lead gen lever that is prevalent again and they're coming back, are expireds. These are homes that have failed to sell. Not cold calling expireds, but sending out a three part mail sequence. Very low cost, very high return in terms of response rate. And it's just a simple handwritten letter, a series of three of them. Your administrator can help you with it. So those are examples of some lead generation levers that you'll install in your business. Of course, I didn't even cover it. But using your database, people that know like and trust you specifically to generate new business in a way that that's not salesy or cheesy or we'll have them not answering your calls. We do giveaways on social media. We make it fun in terms of generating new business from people that know, like and trust us. So that's number one. It's the lead gen levers, the lead sources that you'll need to be able to grow and scale your business. And I'm not talking about paid lead sources, but this is the place that you'll need to start. The second thing is you have to follow a calendar. This is super simple, it's not complicated. But when I look at most agents that are not succeeding, they have no calendar whatsoever. They get up and they're like running and, and you can't tell if they're working on a transaction. Maybe they follow up with a lead. Like it is so random and none of it is really thought out in advance. So we have what we call an ideal week. This is, you know, in a perfect world, things hit the fan, right? So it will hit the fan. But if you don't begin with the end in mind with your calendar, you'll never have a shot of succeeding. So let's take a day. A typical day in the life of an agent who's selling two to four homes per month. And then when I say 250,000 to 500,000, roughly $10,000 commission checks, so 20 to $40,000 a month, two to four deal per month. The calendar will look something like this. First part of the day is new business development Having conversations with would be buyer and sellers, short break after that, then right into lead, follow up. Having conversations, following up with folks you've already spoken with and they weren't quite ready. The next thing are appointments. These are time blocks in your calendar where if you do what you're supposed to do in the morning, you'll be so busy in the afternoon meeting with new buyers, new sellers and securing new business and then negotiating contracts in between. If those time blocks in the afternoon aren't filled with appointments, then you'll be building systems or doubling down on new business development, which is prospecting or lead generation. And so some tips around the calendar. I would start out with a blank piece of paper or a blank Google calendar. Just call it ideal week and put in the personal things first. So date night, family night. You know, you shouldn't have like random appointments with buyers and sellers because these appointments are predetermined. You have a blank appointment slot. You know, maybe one evening or two evenings a week you'll work a little bit late. But it's not like haphazard where somebody asks you hey, can you come over Tuesday at 7:30? You look at your calendar and like no, I can be there 6pm on Tuesday or we can get together Friday at 4pm like you have appointments in your calendar, so don't let your clients dictate where you're going to spend your time and then get the personal stuff in there. We call that the big important rocks. I like to color code the calendar. Green is money making activities, red is my family. And it sort of signifies love to me. This is even quiet time in the early parts of the morning with my workouts, Bible meditation time, those sorts of things are red. And really embrace this. This is where I think the rubber meets the road is like what are you doing with your time? And if you're not using a calendar, unfortunately you're not going to be taking home 250 to $500,000 a year. It's just not possible. The third thing, if you want to make an unreasonable amount of money in real estate is that you have to develop good habits. And this is a hard one. But I recommend a couple books. Benjamin Hardy has a book called Willpower Doesn't Work and Atomic Habits by James Clear. Another good one is Compound Effect by Darren Hardy. You have to figure out how you can good habits. And so these are the things that you need to start doing in order to be successful. And you know, if you're selling 25 homes, ask yourself the question, what would an agent that sells 50 homes a year be doing what habits would they have in their life? Right? They probably would have a habit around their physical body. They would have a habit around sleep. They would have a habit around generating new business. They would have a habit around delegating activities. They would have habits like the little and big things that done over time will lead you to massive success in business. So ask yourselves, what are the things you need to start doing in order to be successful? The fourth thing I need to cover is the things you must stop doing. And this is only if you want to make an unreasonable amount of money in real estate. So there are things that you absolutely need to stop doing. And this is a harder conversation. You know, for me, it was my diet. You know, I wasn't going to bed on time. I was watching TV at night. I was spending too much time in social media. I was got caught up in the 247 news cycle. You know, think of all the things. So when you look at where you are today or even just ask yourself, if you're doing 100,000 in gross commission income and you want to get to 250,000, that's going to be a meaningful jump in income. That's $12,000 more per month of income into your household if we can get you from 100,000 to 250,000. So what are the things you need to stop doing to make that possible? And on top of it, I don't want you to just make more money. I want you to have a stronger marriage. I want you to be physically fit, be closer to your children. I want you to do all the things and achieve all the things you want to do, all the meaningful goals you've set in all the areas of your life. So what are the things you to stop doing in order to become the person that is able to take home 20, 40, $80,000 a month? And it's not a complicated list of things. For me, I had to physically remove a television from my bedroom because I was watching two hours or so per night. I was disconnected from my spouse. We would just sort of mind numbingly watch the television. Right. So for you, what are the things you need to stop doing in order to be massively successful? When I look back on my journey in business, it wasn't a straight path. You know, I made all the mistakes that you could make both in my personal, in my business life. The one thing I will say though, and I did this in all the worst years in real estate, the great recession years, and I think we're getting ready to experience some bad years. But the one thing I was willing to do is I was willing to fail forward. And no matter what mistake I made, I learned from it and I moved on. I didn't let it set me back or get into my mind in a negative way and get me off of that vision I had set for myself. I was moving my business forward. I was going to achieve at a very high level in this industry and I wasn't going to let those mistakes get in the the way. So if you're in your head around and have fear, uncertainty or doubt about your ability to grow your business, got to knock it out. And it just comes with good habits. What are the things you need to start, what are the things you need to stop doing? And some of the other things I covered in this video. So I will say if you want to have a conversation about growing your business in a way that is massively profitable, where you can stop working evenings and weekends and guaranteed success in this program, a 10x return on your investment in our Business Foundation's case study program where I'll pay you double your investment back. Let's just have a conversation. Go to rebsgrowthassessment.com or click on the link in the description and we'll have a conversation about your business, where it is today, where you want it to be in the future, and what's holding you back. So we'll see you over there and we'll see you on the next video.