A realtor realized they were broke despite running a successful business, sold a cabin to build $70,000 in net worth, and switched to a "profit first" approach. Most realtors never think in terms of a proper economic model.
About $70,000.
Very low fear in spending money. None. I was fine. I would spend money on everything. Advertising, spend money. You name it, I would spend. And then when we did, it was with you. We did a financial, like, how much are you really worth? And I'm selling a lot of houses. And my. How much I was really worth it. It came down to, we have to actually sell our cabin, which was our second home that we built. It was very emotionally attached to both of us. And, I mean, we had to sell that because our bottom line, what we were actually worth, wasn't much of anything. I think it was like $70,000 at the time. And I. People thought I was successful by all standards. I was. I was selling a lot of houses. But that day and that moment that we had to come back and sell, sell the cabin was, did we have to? No. But was it the right call and the smart call and the business person call? Yes, we had to do it. And it has been monumentally different from that moment forward. So the realization that I wasn't as great as I thought I was was hard. And then the next step in making those changes and moving towards putting money away, profit first. I think it was you that suggested that book. And we have been through those exercises a ton. That. That was massive. And then building a team around the proper economic model was big. I'll say that question. I'll talk to tons of realtors, and I say, do you have the proper economic model? Do you have the proper economic model? And they're like, what? What does that even mean? I literally, Lars thought that that's the way everybody talks. Like, the proper economic model. They don't. They don't.
