Business Growth Challenge | Double Your Real Estate Sales in 3-6 Months

Welcome to Real Estate Business Builders. I'm your host, Lars Hedenborg, the founder of Real Estate B School. Bottom line, the real estate industry has failed to create a clear path to financial freedom. Traditional brokerages and coaching are designed to keep you running on the transaction treadmill with no exit strategy. While I didn't have any sales, marketing or business building experience when I got into real estate, I was willing to bet on myself and figure it out because my family was depending. Having served over 5,000 families with their real estate needs, I've made every mistake you could possibly make in this business. Through Real Estate B School, I've helped hundreds of agents and team leaders realize their goal of true time and money, freedom and living a life without regrets. If you know there's another level of growth inside of you and you want to learn how to build a highly lucrative lifestyle business, then you're in the right place. You won't find any fluff or hype here on this show. Just real world tools, systems and strategies that work. Let's grow together.

What's up? Real Estate Business Builders LARS Hedinburg Founder, Real Estate B School Today we're going to talk about the business growth challenge. As I'm recording this, the market is, I don't even know what the word for it is. Squirrely, out of balance and a lot of fear, uncertainty and doubt in the headlines. The FUD is getting the best of many agents in our community. You know, I'll ask agents, you know, what are you doing to generate listings? You know, market's pretty tight and they'll just say there are no listings, it's the end of the world. So I have a challenge for you. The challenge is this. I want you to increase your sales. In addition to what you're doing now, I want you to increase your sales by two to three closings per month within the next three to six months. And I'm going to tell you exactly how to do that on this episode. So if you have a 10,000 average commission check, I want to teach you how to make an additional 20 to 30 thousand dollars a month within three to six months. So the question I have for you is do you have a clear roadmap in place to take advantage of the economic shift? Right. It's happening. It is here. You can call whatever you want. It's not a shift per se. It's not like 2000 now, 2008, the, the housing market is, is not leading us into this, this pit. Interest rates and factors outside of the housing markets control is just Leading to a very wonky market. But the question I have is, do you have a clear roadmap in place to take advantage of, of this economic turmoil, this turbulence and grow your business and grow your wealth? Right. If you're a, let's say you're a productive real estate agent or you're running a team, you may feel like you're spinning your wheels. You're doing the same amount of effort that you've done in the last couple years. It's not getting you the results that it once got you. And if you've got a spouse and you've got kids and you've got things that you want to do outside real estate, you probably feel like you're failing. Failing on multiple fronts. I know when I was growing my business in the great Recession years, I definitely felt this way, right? On top of that, generally the business and growth minded agents and team leaders out there, we are generally stricken with something called entrepreneurial add, which is we have attention deficit disorder, but it's of the entrepreneurial type where we're easily distracted. And with all of that stacked up, right, me being a husband back in, you know, in my early days, my heavy growth years, new to fatherhood, new to my faith walk, wanting to overcome the world in business, right, There was just too few hours in the day. And that's what you're going to find here as whatever's happening that the turbulence in the economy, global, national and, and local, you're going to find that there's just two hours too few hours in the day. And, and make, make no mistake that there's, there's a shift happening on multiple fronts, right? So, so pre the interest rate hikes in 2022, there was technology even more so now with AI, you know, some of the AI driven marketing tools and I'm actually going to be doing a training on that soon. Super excited about that. But the industry was changing, right? The ibuyers, several of them have sort of retreated. But generally there's just a lot happening in our industry and we don't have any friends, right? Anyone coming into our industry, their goal is to extract as much of the commission check as they possibly can and we're left, you know, like hands up in the air, you know, chasing these different squirrels, being marketed too heavenly and then really questioning, you know, is all of it worth it? You know, is the additional effort that's gonna be required to crush this economic shift here is the additional stress potentially is the money you're taking out of your business in the hours that you're working. Is it all worth it if you don't know anything about me and my journey? I'm going to give you the really short summary here. 5,000 plus families served. My first full year in real estate was 2008. That was the sort of liftoff year or the pitfall year of the great recession. I sold 44 homes that year. That was me solo agent in production. And fast forward, you know, a handful of years later I had 10 producing agents selling 453 homes and I was totally out of production. Helped thousands of agents launch, you know, into the business building aspect of, of real estate. I've got it sort of. I've accomplished what I never thought was possible financially with my schedule. Now I'm just working on that third mountain which is impact. I want to have as much impact as possible. Got an awesome schedule. But make no mistake, I have made all the mistakes and I hope to share some of them with you as we sort of describe this journey here and this challenge I'm going to give you. For me it was, you know, being new in the business, newly married, had a couple kids, couple miscarriages in between anders and Kendall. But 2007, November, Anders came into the world and Kendall came into the world April 2010. And I really had to make it work. And I did have a plan, but I was working, you know, evenings and weekends, burning the candle at both ends. I also knew my why. So the first thing I want to drop here is in order to crush business. When times are tough, turbulent and chaotic, you have to know your why. For me, I had a rather chaotic jacked up parents divorced at 4. My dad was an active alcoholic until age 15. So we didn't really have much of a relationship. Didn't have that father figure growing up. And I knew I wasn't going to do what my dad did. He was a business owner, he gave everything to his business. Didn't have a lot left over for the family. I think alcohol, you know, part, you know, he was able to kind of numb what was happening in the business in part for sure. Addiction. Right. But my why was to not repeat what my dad had done, you know, not give it all to the business and have nothing to show for it. Not have a failed marriage, not have, you know, kids that weren't really connected with you. Right. So you have to ask yourself what is your why and why are you doing this? That's gonna power you through this shifting market. The reason I launched Real Estate B school was not cause I wanted to be on a stage, not because I wanted to do a podcast, not for any other, except I wanted to give hope to agents that had this wiring toward growth. And I can show them the way to use their business to increase their net worth systematically. And you could track it and have more time off with which doesn't equate in real estate if you do go, if you follow traditional methods and traditional coaching so that you can put the things that matter most in your life first. So the question is, how do you grow your business in this, you know, funky economic climate and this low inventory climate without losing your life in the process? There's just a few things I want to go through. Number one, I gave it to you already. You have to find your leverage. This is emotional leverage. This is your why. This is printing out a picture of your family and writing a little sticky note on it saying, hey daddy, we're counting on you today to crush it. You looking at that picture every day and you saying, I am not gonna let you down. I get emotional saying that. And it's just a made up thing, right? You need to find your emotional leverage. Number two is that you need to play a different game. This is the kind of environment the next couple, three years. Our Realtor Association, national association of Realtors has projected 30% decline in agents over the next couple years. So this is the environment and the next couple, three years where you need to play a different game and add a zero to your net worth or two zeros to your net worth or take your net worth from negative to 500,000 in the next couple years. So play the game of business. And how would you look at if you could crush your three year vision, what would it look like? If you could wave a magic wand, what would three years from now look like? Right? Then get to work and build it. You know, B school, we definitely have the whole process sort of built out in terms of the drivers, the accelerators, the systems. You know, there's probably fully 72 or so systems to install in your business. I'm talking R and D, like ripoff and duplicate. Installing your business based on the six stages of growth from agent, struggling agent to true business owner. But even if you're not in my world ever formally, you need to focus on building the business and building it right? So the systems do the heavy lifting in the business and you're not in every aspect of the business. The fourth thing I want to share with you here is that you need to know your worth. You need to know your worth. You Know this is often overlooked, but not by me because I talk about it all the time.

If you listen to this podcast, you.

Have heard me talk about the Business Freedom Index. This is the singular most important measure in my opinion as it relates to only time and money, not impact, not family time, quality, spent, any of that stuff. Maximizing your Business Freedom Index is essentially the amount of money you make from your business divided by the hours that you work, the amount of money you make divided by the hours that you work. And I'm talking profit, pre tax profit. And you know, most agents won't make more than 40, 50 bucks an hour. I declared I was going to make 250 and then I was over $3,000 an hour from my real estate business at one point. So number four, you need to know your worth. Number five, you must have the right tools. You have to have the right tools. You can't be one offing everything in your business like your lead management system, your text sequences, your email sequences, you don't have all those built out and they're not running for the 99. For the 90% of leads that aren't ready to transact when you call them or when you contact them. You're not in the game of building a business right? Those are some of the tools that you need to implement in your business. And then last thing here is that you need to be asking yourself the right questions. So are you taking advantage of the lowest cost, high return lead gen levers? Are you using marketing and technology leverage at the highest level? Are your lead nurture system set up properly? Do you have a system to offload low dollar productive activities? Where can we cut expenses without hurting your business? Are you working too many hours without much financial upside? So I'm praying that this inspired you, challenged you, kicked you in the ass, did something to motivate you to look at your business a little bit differently so that you're not one of the 30% that aren't in the business. Moving forward, if you want to go further, faster, I don't have anything to sell you. I have a conversation. It's a free conversation about your business. What's working, what's not working, what you've tried, what obstacles you're seeing, Simply go to rebs growth assessment.com that's R E B S growth assessment.com Again, this podcast is to add value to the 99% of you that will never get into my world formally. And for that one person out of a hundred that takes action and gets into our world, we will not let you down. So go to rebsgrowthassessment.com and we'll talk to you on the next episode. Much love, much respect. Until next time. Bye bye.

Thanks for listening. Would you please take a minute to share the show with other agents who may be struggling? And if you love the podcast, please leave us a five star review on Apple Podcasts or your favorite podcast platform. And make sure you visit ScaleOrDiebook.com to get a free copy of my book. It's a nuts and bolts guide to building a real estate business that gives you true time and money freedom so that you can live your life without regrets. Thanks again and see you on the next episode.