How Do You Make The Shift From Real Estate Agent To Business Owner?

Why is it in other industries or other businesses you can show up, the business is running sustainably, it's serving clients and the owner's not there. You know, I like to think of the example of McDonald's. Not that real estate is exactly like flipping burgers and putting food in a, in a paper bag and going through a drive through. The analogy, though, holds true. It's this concept of how do we build our business in a way where it doesn't rely on us. And so in real estate, for some reason, it eludes most real estate agents that they think they can't make the shift from real estate agent to business owner. And traditional success in real estate is really, really tough. Like, it's a hard way to make a living. You'll rationalize. Top agents will rationalize that they have freedom, right? Yet they're working evenings and weekends. Well, yeah, I had freedom. I could take off two hours in the middle of a Friday and I could go, whatever, get my hair done. Right? There's nothing wrong with getting your hair done, but look at the rest of your calendar. What are you giving up to be in the real estate business? So is it possible to make the shift from agent to owner? And what does it take to do that? Typically, it comes down to mindsets and I'll get into those just here in a second. Make sure you stick around to the end of the video. I want to give you a free training that I did. It's five steps to build your real estate business. Maybe a struggling agent to become a business owner with a million dollar real estate business. If you like the video, make sure you give me a thumbs up and subscribe to the channel and turn notifications on. So you're the first to know about a new video when it drops and make sure you leave comments as well. You know, when I think about the journey from like just grinding it agent and willing to do anything to grow her real estate business to true, true, true, true business owner. I think of Stacy Peterson, who is our chief operating officer. She runs the world at Real Estate B School. I met Stacy Back in 2013, the year real Estate B School got started. And she actually called me on a Friday before Real Estate B School was formally taking on new clients. And she said, hey, I saw you at this event. I like what you had to say. Would you help in our real estate business? Would you help me figure some things out? Right. We're struggling in these areas, right. I'm working with buyers, I'm working with sellers. I'm, you know, Working evenings, I'm working weekends. I'm struggling as you know, to show up as a wife, as a mom, you know, I've got too much on my plate. I'm not taking care of my spiritual, you know, my faith walk. I'm not taking care of my physical body, my emotional well being is suffering. So like just everything to that moment that, that, that propelled me and motivated me to start Real Estate B School. This was the first client ever to Real Estate B School. So she called me on a Friday, I say, call me back on Monday. Real Estate B School is launching and she's like, at the time she told me the story later, it's like total bs. There's no way he's launching a coaching program on Monday. In fact I was and she indeed was our first client. And so the three things we focused on, when I think about, you know, her journey from agent to owner and she was working with buyers, working with sellers, trying to scale a team, trying to work on client care systems, you know, working on the marketing, managing, coaching, trying to keep all her personal stuff together. Within six months we looked at her highest and best use in the business. Within six months we got her out of production. Her highest and best use was not working with buyers and sellers. Right. We had some leverage agents on our team that can take over working with buyers and sellers. We had to put some sales processes in place. We had to build out a buyer consultation framework. We have to build out the seller consultation framework which includes the presentations, the listing packets, the buyer packets, those sorts of things. Right. So it didn't come without some effort to get her out of production. But that was the first thing to get her some relief for her evenings and her weekends. She was able to triple the size of her business in a three year period. Out of production in six months, triple the business in three years. She was actually able to go down to two days per week in that business. And she came over to Real Estate B School to help out in coaching, to run our coaching, to run our operations, and now run the world of Real Estate B School. And so it's this commitment to focusing on where you're spending your time and is that the highest and best use? My time. And so how are you spending your time right now? What are things you can do to minimize the amount of time you're spending in things that you can't have the maximum impact? And what leverage do you have around you in the form of systems or people? Maybe you don't have any leverage with systems and people. Maybe that's part of the problem is you're not thinking about your business as a business. And so probably the baseline ingredient of me working with Stacy directly is this shift in mindset. It's how do I view myself as a business owner versus a real estate agent? Most of our clients come in thinking that, you know, it's just not possible to not work with buyers or not show homes to buyers or not. And it doesn't mean you have to get out of production. It's a willingness to open your mind around what's possible. You know, let's take the McDonald's example, right? If every McDonald's owner had to be in the store, the it wouldn't work. People don't buy a McDonald's franchise because they want to flip burgers. They buy it because they have the money to put down. There's a very predictable return on that investment. And typically it's. I don't even know what it involves things like a million bucks and you can own a McDonald's franchise and it's this process to go through, but it's just a return on time and money. And typically it's money. And those McDonald's open up and they're. And they're full the first day and they're running smoothly the first day because it's built as a franchise prototype that started with the McDonald's brothers back in the day. And Ray Kroc saw the opportunity, right? So be the Ray Kroc in your business. If you've seen the movie the founder, don't be the part where the movie makes him out to be this, you know, super shrewd, really capitalistic, a hole type personality. Be the Ray Kroc that thinks about a business like a business. That parking lot scene where they're orchestrating the perfect hamburger and all the positions working together, that's how I want you to think about your business. That's how Stacy thought about her business. So if you want to know this step by step journey to go from where you are now to a million dollar business owner, go to realestate business freedom.com that's real estate Business freedom. Com. If you like the video, give me the thumbs up. Subscribe to the channel, turn notifications on and leave your comments below. We'll see you in the next video.