Changing Business Models For Your Real Estate Business

Are you working the hours you want, making the kind of money you deserve, and without the stress of being a traditionally successful real estate agent. Typically, that time money stress equation is completely out of whack. If you're a top producing agent or if you're running a team to be able to look at your business differently and the model that you've built, maybe you're at a point where you realize that what you've built is not sustainable. If you stick around, I'm going to give you the entire blueprint, the roadmap to go through every stage of growth. If you like the video, please give me the thumbs up. Subscribe to the channel and make sure you turn notifications on. If you want to play the long game in your real estate business, you really need to consider the model and the foundation that you built your business on. For most traditional real estate agents and most team leaders, traditional real estate teams, they never really contemplated that there is a right way to build the business so it's foundationally strong and able to give the owner some freedom, whether that's freedom of time, freedom of money, or freedom from stress. And in real estate B school, I am like obsessed with this time money stress equation. I just see too often that agents and team leaders are giving up way too much of the things that matter. You know, their marriage or their relationship with their kids, or their physical body, their spiritual, you know, their connection to their creator, their emotional well being. You know, our industry is hard. There is an overabundance of agents. It's a commodity business. And so if you're not thinking about how can I build a business on the right model, you know, business model, service model, and economic model, how can I build the right business on the right model and be able to scale so you can have more money, have more time to enjoy it, and just bring that stress level down. So there's a few things I want to go through that will allow you just to figure out where you are in the journey, maybe how you can look about your business, how you can look at it differently, and maybe discuss decisions you can make to change the trajectory of your business as it relates to those freedoms that I just talked about. The first question I have for you is, do you have a vision for your real estate business? So let me explain. Back in 2009, that was kind of the first year that I really started thinking, there's no way I can keep up this pace and show up as a good husband or as a good dad, or keep any sort of sanity emotionally I was gaining weight. I think one time I actually drove myself to the emergency room because I thought I was having a heart attack. So stress and just sort of the psychosomatic, the physical manifestation of stress was getting the best of me. The vision was clear for me. 2012 December 31, 2012. This was 2009. I built this plan. By the end of 2012, I wanted to be working less than 40 hours a week. Business hours Monday through Friday. I was only going to do listings. I was going to have sort of X dollars in the bank and liquid net worth. I was going to work X number of hours in the business versus on the business. I was going to have these team members surrounded by me. My financial situation was going to look this way, number of vacations I was going to take. I really got specific on what the vision of the business was going to look like. Well, a better way to ask it. Based on the three year vision you had three years ago, are you where you need to be today? That is typically a horrible question because most people, it's like 99% of people don't have a vision. And so I put you on the spot a little bit just to prove the point where if you weren't clear three years ago, where you were going to end up today. Today is the day that you can declare what your business is going to look like in the future and how the business fits into your life, not how your life fits around the business. That's number one is this vision for your business. The second thing is, do you have a roadmap in place or a blueprint to achieve that vision? It's one thing to say for me, in 2009 I was selling 50 something homes. I hadn't hired my first buyer agent yet. I had an administrator. It was easy for me to say, okay, I want to sell 180 homes three years from now, right? I just declare it, let it be. I had to get work on the actual roadmap to get there. I had to decide like, okay, how many agents will I need? What do I want to do in the business? I wanted a 6040 listing versus buyer business. How do I generate enough listing leads, you know, affordably to be able to do that? I had to generate leads for my buyer agents. How do I generate leads for them without being extorted by zillow or realtor.com and those junky lead sources that have just gone through the roof? And there's no ROI return on investment at this point. So I had to really contemplate what needed to happen and how to break down that three year vision into bite sized pieces. So the roadmap became like literally what tools and systems were not present in my business that needed to be there? And like tracking systems, lead generation systems, today we call them lead gen levers. We have 12 lead gen levers that we employ in our clients businesses. We have sales systems in place. Right. I couldn't be on every consultation. Now we have virtual consultations. I could be in five places at once. So as you look at this vision, you know, compared to where you are today, what's the roadmap to get you there? Break it down into a one year plan. Say what has to happen this first year of this three year vision for me to get really just big, one big step closer to that three year vision and then break it down into 90 days and say one, what system can I work on or tool can I implement this 90 day period to be able to move closer to the one year plan, that three year vision and then weekly the commitments you make and then daily the choices you make with your time and how you time block the most important things, the higher the highest dollar productive activities. So that's number two is this roadmap and being able to achieve, you know, having the blueprint to achieve that vision. The third thing I'll talk about is are you time blocking in your calendar? Work on business? Go to your calendar right now. Is there anything in your week that says a 60 or 90 minute time block multiple times throughout your week? Work on business. Chances are unless you're a real estate B school client and you're watching this video, chances are you do not have that time block in your calendar. These time blocks are more valuable than any other thing you could do in your real estate business. These are the time blocks where you're building the company of the future. I don't care where you are today. If you're ignoring these time blocks or if they don't exist or you don't know what to work on when I say work on business, these are the tools and systems that give you leverage to be able to scale the business beyond your own efforts. And even if you don't have a vision to scale to a 15 person team, you know, or you just want to kind of do real estate and you don't want to complicate things, you could still have a million dollar real estate business working, you know, 40 hours a week with three or four team members, right? It all comes back to systems and people and building the systems in the first place. And these work on business time blocks. Those are the time blocks that we do it. When I think of someone who I couldn't be more proud of and their journey from grinding it out real estate agent to completely free business owner, it's John and Jennifer Mikish. They are just north of the Charlotte market. And I remember when we started working together I was kind of wondering like, is this going to be weird? We're kind of in the same market and we just decided that it wasn't and we would jump in both feet, you know, jump in feet first and we would just get after it. And John and Jennifer were able to more than triple their business in the time that we worked together. They're an 85 million or so in volume real estate team. Two and a half million or so in GCI and built on the right economic model with value based commission splits, all the lead gen levers, you know, gar super deep, very profitable business set up the right way. Culture, cadence, element. Everything is lined up and dialed in. And John and Jennifer just spent 15 months on the road traveling around the country. And John, if you know John Mikish, I think he just shaved his beard. But for 15 months he's been just growing this massive beard just because he could. And his business has been running and supporting this lifestyle. On their way back from the west coast they found fell in love with, you know, a small town in Montana where they decided to live. So they just exited the entire market. Their business is still running and it's super strong and profitable and it supports this lifestyle where they were every bit. I think Jennifer was working 50 to 60 hours a week at some. At one point John was 65, 70 hours a week. They've like tripled their income and they've taken all of those hours. If you add them up, 60 and 50 is 110 hours times 50 weeks, about 5,500 to 6,000 hours a year. They've invested in this business to kind of before I met them and now in the last year I think they do a weekly meeting with the team. So collectively between the two of them, maybe five hours a week, you know, times 50 weeks is 250 hours down from 6,000 hours down down to 250 hours. And they're making triple the amount of money and they don't even have to live in the market. So when I talk about, you know, models and vision and roadmap and work on your business and time blocking, it's not only possible, it's predictable if you actually do the work. And so this free report that I put together, it goes through every one of the six stages from like if you're under 100,000, if you're 100,000 to 500,000. What you need to be doing to prepare for the next stage, to set yourself up for success in the next stage. We don't want to put you in a stage where you're achieving those numbers, but you didn't do it with the right tools and systems and the right foundation to be able to work less as you ascend up the different stages of the real estate business growth navigator. So go to realestatebusinessgrowth.com or click on the link below. If you like the video, give me a thumbs up. Subscribe to the channel and make sure you turn your notifications on. I'll leave you with this last thought is that and I'm just going to steal it from Jim Rohn. There's two pains that you will suffer in life. It's the pain of discipline or the pain of regret. I have made it. My mission in real estate B school is just to help agents and team leaders to not end up at a point where they have regrets around their physical body, their spiritual journey, their emotional well being, their marriage, their relationship with their kids. Right. There's more to life than selling houses, so you get to choose which one you want. A little bit of discipline and focus or this life of regret and you kind of end up at a point where it's not fulfilling. We'll see at the next video.