How I Run A Real Estate Business Working One Day A Week

Is it really possible to run your real estate business working only one day per week? This is probably the question that I'm asked most often is, Lars, are you really only working one day a week in your real estate business? So in today's video, I want to go through the step by step process, the different stages of growth that I experienced, to go from like, overworked, underpaid, super stressed out all the time real estate agent, you know, not showing up as a great dad, not showing up as a, you know, a present husband and serving my family, not taking care of my physical body, not having any faith, you know, walk whatsoever. Back in those early days to fast forward, you know, five or six years, we sold 400 homes and I was working one day a week and I was, you know, really active in my faith and I was taking care of myself emotionally and physically, and I was showing up as a husband and as a father. How do I go from, you know, seven days a week to failing on all fronts to one day a week making more money than I imagined and now showing up in all the areas of life that matter? Stick around to the end of this video. I want to give away a free report that really details the mindsets, the tools, the systems, the team structure, the questions you need to ask yourself at every stage of this journey. Stick around and I'll give you access to that free report after this video. If you like the video, give me the thumbs up. Make sure you subscribe to the channel and turn on notifications. Subscribe so you're the first to know when a video drops and leave comments below. All right, so I'm going to go through my journey once again. The backdrop this time is this concept of, you know, how do I build it in such a way where I can completely step out of it? Let's pretend you want to work no days a week. The mindset is here is the most important thing. The first book I read when I got into real estate was E. Myth Revisited by Michael Gerber. It doesn't give you any sort of practical tools or systems or tactics or even strategies. Well, I guess it talks about strategy, but it doesn't give me specific things to do to go from the technician to the entrepreneur. It gives you the mindset necessary to be able to do that. And so here is my guiding question, and this is the question that. That I've never forgotten that will change everything for you if you truly understand it. How would you think about your business differently if you were to replicate it 10,000 times? So e myth revisited. If you don't know much about the book, it is a book Michael Gerber wrote about the entrepreneurial myth. That's the E myth. The entrepreneurial myth is like, hey, I'm a real estate agent, so I'm a business owner. All I do all day long is the technical work of a real estate agent. Yet I call myself a business owner. And he has this funny quote about, you know, you have the worst boss ever. You've decided to get into business for yourself, leave your corporate job. You're now a business owner. You have the worst boss ever, yourself, right? There's no accountability, there's no vision, there's no sort of logical business practices. You're not spending any time thinking about the future. You're not building systems or empowering people. You're not doing any management work. You're just doing the technical work in the business. And that is the entrepreneurial myth. So how do you bust out of that sort of just grinding out the technical work? It is thinking about your business differently. If you were to replicate your business 10,000 times. Think about the McDonald's franchise. If you've seen the movie, the founder, you know, Ray Kroc, viewed that first McDonald's location differently than the McDonald's brothers. The McDonald's brothers built the franchise prototype, right? If you remember from the movie, Michael Keaton in the movie, who was Ray Kroc is not sort of painted as like the best guy, really shrewd business person. Put that aside for a second. The McDonald's brothers in that parking lot scene, that was when they were building the franchise prototype, they were orchestrating like, how do we create really great tasting food fast, right? In less than a minute, you can get your burger. And the parking lot scene, they're wiping away the lines. They're redrawing where the oven is, the ketchup station, where they put cheese on how they bag it and how people are moving so they're not bumping into each other. So building the franchise prototype is the same thought process as if I were to replicate it 10,000 times. So if you were to practice real estate, let's just say in 100 markets across the country, how would you think about your business differently? In each of those markets, you have to generate leads. You would have to, you know, have conversations with buyer prospects and seller prospects. You'd have to compel them to take action and come meet with you in your office, presumably, or go to their house, maybe for a listing appointment. You'd have to compel them or convince them to do business with you, sign a buyer loyalty agreement or sign a listing agreement and at a price where it will sell, you know, at a commission rate that you choose, with fees that you, you know, you know you deserve. And then how do you get them on the market or searching for homes if they're a buyer? And then how do you get them under contract into closing successfully where they're actually more happy with you at closing than they were when they agreed to do business with you? So imagine doing that in a hundred different markets. You couldn't be the one doing any of those things. So everything in your business becomes a conversation around how can I build a system to do this? How can I build a system to nurture my database, you know, fully leveraged to the point where I can generate business from the database. So you could record a weekly video just like this to your database where you can add value. And as a result of adding value over time, they're going to think of you. When it comes to real estate, you could actually do that and get into 100 different markets doing that. So that's a system that's a leveraged activity that we could translate into, you know, multiple businesses. Your sales system. Right. How would you have to present in 100 different markets in the same day to a new buyer coming into your office looking for a buyer's agent or buyer, buyer's representative? You'd have to figure out some sort of virtual consultation process or at least a step by step process where you had someone in those offices presenting, you know, the services or what we've done. We've put together a virtual consultation consultation process where I'm the one actually talking about the benefits of working with, with our team. Right. Same thing on the listing side. The step by step process to hold a virtual consultation process to go through a pricing conversation, a marketing fee conversation. Right. What's the systems and processes that you put into place? So the journey from, you know, where you are right now to what's possible in your real estate business, It's. Yeah, it comes with six stages. Right. 0 to 100 is where you're starting or barely surviving. 100 to 500, we call that the ramp stage, where you're really ramping up your production and the money's okay, but you're working too many hours. 502 million is what we call build because you're primarily building systems in your business. A million to 1.5 is what we call the lead stage. That's where you're leading and managing others and holding them accountable. 1.5 to 2 million is what we call the exit stage. That's where you have the opportunity. If you've done all the things right on all the stages prior where you can exit production and you can still profitably run a business, then 2 to 3 million plus is where you could take the owner seat in your business and work one day a week. And that's the conversation we're having. It's a step by step process. There are a handful of things to do at each stage. No more than 30 sort of big focus areas along the journey. But we've broken it down into step by step. And it's this mindset of, hey, in the future I'm going to end up with a business that doesn't rely on me and what do I have to do today to make that happen in the future? Right. If I can create this vision for three to five years from now, break that into a one year plan, 90 days at a time, 30 day goals, weekly commitments, our whole planning system, right. How can I get there systematically, predictably, right. This journey is not only possible, a hundred percent predictable. Real estate B school was created out of necessity. Like I started the conversation, I wanted to be a good husband, I wanted to be a good dad. You know, I didn't want to be focused on business all the time. It's still something I struggle with and I guard myself against it. Yet I have freedoms now that I wasn't able to have back then because I wasn't in a position where I had figured out all these pieces. So real estate B school only exists in because I failed through all of those six stages where I didn't know what was coming at the next stage because there was no next stage. There was no real estate business growth navigator, right? So go to realestatebusinessgrowth.com it's going to lay out every one of these stages, all the mindset, all the tools, what you're making, you know, the hours you're working, what the team structure looks like, the questions you should be asking yourselves and what exactly it's going to take to go from one stage to the next stage, how to graduate from stage to stage. So go to realestatebusinessgrowth.com that's realestatebusinessgrowth.com or click on the link below. If you like this video, give me the thumbs up. Subscribe to the channel. Make sure you turn on notification notifications and leave comments below. We'll see you in the next video.