How I Tripled My Production with These 2 Hires - Real Estate Agent Time Management Tips

What if I told you that you could double, triple, maybe even quadruple your production and even 10x your take home income in real estate with 2 hires? Would you even believe me? You just gotta do the work. I'm Lars Hedinborg, the founder of Real Estate B School and the creator of the Million Dollar Agent Method. And I'm going to go through a lot of the systems and mindset stuff as well. But the two key hires that you'll need to basically detach the money you make in real estate from the hours that you work. So let's get the party started. So I'm going to break down some of the skills and mindsets. So the year I'm recording this through July, 70% of real estate agents did not sell a single home. So we're at a point in the journey where things are not looking great. But I actually built my business in the Great Recession years and it was way worse than it is now. It's not that kind of thing. But this, the, the reason I'm saying that is that this is the time to figure this stuff out and really double down on making this stuff work. So we'll go through some of the skills and mindsets. Definitely want to go through the questions that you need to ask yourself in order to not only grow, but scale. And there's a difference. And I'll go through that here in a second. Definitely some tools and systems that you have to implement along the way. A business, a real business, is one based on systems and not just like, can an individual person do more work in a day? That's not the way that we scale businesses. And then I'll go through the key hires for sure. So some of the assumptions I made here are important and I did a similar video about the four stages of growth. But I'm going to go through it today specifically with an eye toward like, what are the things that you need to stop doing? And then I'm going to go through an ideal work week as well. But I'm not talking about you working more hours. Most of the coaching in the industry is productivity coaching. And when they talk about you growing your income or selling more homes, it's typically by you sacrificing your work week. We definitely don't want you giving your life away in the process of making more money. Right. So again, detaching time from money. And there's this concept of growth versus scaling. When you scale a business, it's not you doing everything. So you've got to build some systems. You may have to get a virtual assistant or a showing agent to run parts of your business so that you can make more money in less time. That's scaling. Growing is just you working twice the amount of hours and taking home twice the amount of income. A key concept is our Business Freedom Index which is a measure of how much money you make versus the time you put into your business. I also think that for folks to be interested in Million Dollar Agent method and any of the concepts that I go through here on the channel, you do have to have the heart of an entrepreneur. An entrepreneur thinks differently than you know. Going back to E. Myth Revisited by Michael Gerber, a really good conceptual book. He talks about entrepreneur versus technician. And most real estate agents are just doing the technical work. They don't actually own a business because it's just them working in the business. The entrepreneur is the person that thinks about how the business could operate and the person or personality inside all of us. The manager is the person that sits in the middle and builds systems and brings leverage points into the business that allows you to make more money in less time. And so I'm going to think of all of you that are watching this as entrepreneurs and I think you do need to be sick and tired of the traditional way going about this. So I've made that assumption that if you're still watching, you're definitely sick and tired of the traditional way of real estate. So real quick, I was able to scale my business to the point we served 5,000 families. I enjoyed complete time and money freedom. I launched Real Estate B School really just to help agents locally. I launched Real Estate B School after I figured out how to help a bunch of agents locally. But I really never thought that I'd be a coach. Honestly, 2000 plus agents have been through this. We, we have done the work. So this is not the latest, greatest sort of thing. It's sustainable systems that you can absolutely scale past seven figures on. And I would say as a coaching company, we do focus on inbound organic lead generation and also conversion systems and also sales first frameworks and stuff like that. But getting away from paid leads and the expensive, you know, 30 to 40% referral sources, no cold calling, begging for business. Ultimately, at the end of a 13 week journey with us, the goal is to help you add into perpetuity two to three transactions per month. So very, very cool system that we use. So let's jump in to the, the stages here. There has to be this mindset that you, you want to grow right the the industry. It's like, I don't know what percent, but it's probably north of 90%, isn't doing more than a hundred thousand GCI. Now we have people come into our world that are doing less than that and we help them, but they only come in because they want to hit 100 on their way to 250, on their way to 500 plus. Right? So this is where you're excited, you're naive, you know, you're probably taking home, let's say 60% of your, you know, between brokerage fees and whatnot. This is a calculation that you need to know where you're at on this, the spectrum. I got up to $4,000 per hour. But in this scenario, let's assume a 2500 hour work year. So 50 hours a week times 50 weeks is 2500 and 60,000 divided by the 2500, that's where you get 24. This is just hustling your way to 10 closings per year. Essentially. People leverage. There isn't any. You can't afford it. And in order to advance to the next stage, which you need to get out of this survival stage, it's just the daily habits, building sales skills and this determination and also a vision to grow, I would say, but let's spend the majority of the time here on the hustle and the ramp stage. And by, even by the end of this stage, we're not bringing on an additional person, but we're building systems out because we have a mindset of bringing on an additional person. So the punchline here, the two people are a local licensed admin or a virtual assistant and a junior agent, which doubles down as a showing agent. And so that's the punchline here. That's what we're building toward. It doesn't matter where you are in the journey, but I want to lay out the steps that are going to help you kind of knock down the hurdles without having to trip over them. Like just, you're just jumping over the hurdles versus like you're getting wrapped up in the hurdles. But if you want to go to 250 on your way to 500, these are the two hires for me. I knew that I wanted to build a big business. My first 10 months in real estate, I sold 27 homes. I did not have a single hire and I think that was 240,000 GCI. So I figured out some stuff out of the gate and I generated all my own leads. I never took any leads from my broker. Those 10 months I did 27 transactions. I had to leave that broker because his splits were not good. And I was generating my own business my first full year. Early that full year I think probably did over 350 or 400 GCI, 400,000 GCI. So I was square in the ramp stage my first full year in real estate. So early that first full year where I sold 44 homes, I hired a part time admin that quickly went full time. And then the end of my second full year is when I hired a junior agent, Chris, who sold 27 homes his first 12 months with me. And so in that journey I was able to go from like making less than 20 bucks an hour because I wasted a lot of money my first 10 months to making maybe $250 per hour or maybe $150 per hour my second full year, 2009. That's the kind of dynamic that we're talking about. And so you know, when you think about the 150 getting to 250k, you're busy at this point. The money's good, time is the challenge. Now you're taking home probably 80% because hopefully you're in a cap situation with your broker and that's $80 per hour, which is good, right? So you went from $24 per hour working the same amount of hours to $80 per hour. And you've built out some systems here. So these are things that we teach in like the first four or five, six weeks of Million Dollar Agent method is our database touch Blue have members that have installed that system 8, 9, 10 years ago that are earning multiple seven figures per year from just the database touch blueprint and then the agent brand authority builders, basically expanding your digital footprint. So those are the key systems you'll need to be working on as you're going from 100 to 250. And again if you started with us earlier than even 100, you can work on these systems earlier. But this is how you're building out lead gen levers, lead generation levers. There's massive leverage in these. But to get to 250 you don't need to hire anyone. You need to be thinking in terms of systems and then you need to be thinking about like okay, I just crushed 250. Now if I get to 500, I definitely will need that admin and thinking about that junior, that junior agent as well. So the ramp stage is getting to 500k and the mindset is the big shift. So you're wondering if there's more to life than real estate because time is Still a challenge. But at this point, you're like a fraction of a percent of agents in terms of your production. And you're asking yourself the question, where do you need leverage the most? You're probably taking home about 75% of your gross commission. You've got an admin in place at this point, hopefully, and you're thinking about bringing on that shower, that showing agent or a junior agent. And you're making $150 per hour, so up from 80 and which is up from $24 per hour. This was my, basically my second full year in real estate. That's when I hit that $150 per hour. And the systems you're putting in place if you want to continue to scale is that appointment, setting, process and the consultation frameworks. So, you know, all your nurture sequences are in place, the emails, the text and all of that. And you're absolutely bringing on. And we even have offshore va. We have a relationship. We don't manage virtual assist. You know, for $10 an hour, we're bringing trained virtual assistants into agents businesses and they're taking off 30, 40 hours a week off of their plate. They're doing all the marketing coordination, all the listing coordination and all the closing coordination for them. So if you're going past this stage, right, so this gets you to those two hires. If you're going past this stage, I've seen team leaders, quote, unquote, bring a bunch of agents in, but they didn't have Legion. They didn't have an excess, you know, like an excessive amount of leads. So you, in order to advance to the next stage, you need leverage lead gen. You need like an abundance of leads and a really solid listing inventory. Because you're going to maintain, most likely you're going to maintain all the listings and you're going to bring agents on that are working mainly with buyers that come off of the listings that you have. So to get to the next stage, you're still just selling and meeting with new clients, signing them up. Now you've got a showing agent in place, so you don't have to show homes. You're giving up evenings and weekends. We've got a whole system for that. And then if you're at the point where you're progressing through to the build stage, so let's say a million is about a hundred transactions. You're doing 50, 60 listings still working less than 50 hours a week. And all the buyers are going to a couple buyer agents, so they're doing 40 to 50 deals. You've got a local admin, licensed local admin, local admin has hired a VA or two, a virtual assistant or two. And then we've got three other stages past this. But this is for most agents, this will kind of be the nuts and bolts of it. And then you can go to 280 per hour to now and probably work even less hours. So this number could be even more. So we got to 150, then we got to 280. And this is the key in terms of the game that I played in business, the difference was that I was willing to play a game of how can I make a seven figure take home income, work 20 hours a week. So I didn't even work 50 hours a week. My hours were going down every week consistently, which allowed me the leverage to not only be like way more present as a dad and, you know, as a husband, but I was able to start another business and then another business after that. So really, really cool if you do this the right way. So if you're at the point in your journey, you want to take a next step with us, you know, even if you're not at six figures, but you know, you want to hustle your way to there and then beyond. If you have that entrepreneurial mindset, if you're tired of like just riding the income roller coaster and you've been burned, I will say this. Every client that has come into our world has been burned by all the paid lead sources. Everyone thinks we're a paid lead source company. We are not that. We help you install the lead generation levers into your business, the lead conversion systems, all the sales frameworks so that you'd never have to pay for leads again. Big, big difference. So go to milliondollaragentmethod.com if you want to take a next step with us. And I'll share one more thing here since I've got you guys. The benefit of doing this the right way is that you allow yourself to basically dictate your calendar. No longer are you ever really giving up. All the red here is sort of personal stuff and that goes in your calendar to start. So, yeah, do you still need to, you know, follow up with leads that you generate and have those first conversations and then do lead follow up? Yeah, for five days a week, three hours a day. These are the time blocks where you're making multiple thousands of dollars per hour. Even though these are organic inbound leads, you still need to have conversations with them. 90% of folks aren't ready to go. So you're having those follow up conversations on the daily. All you're doing in the morning is just filling in these green appointment open time slots. I did Saturdays by appointment only. I would take a 9, 11 and a 1pm listing appointments and I would say book them in that order because if there wasn't a 1pm I would get off early. So I would have cut out early on Fridays and I would only work the first part of Saturdays. And generally speaking I was off on Sundays. Right, but this is the way you can basically dictate your calendar. When you look at the different stages, you'll eventually end up working less than 50 hours a week. But really to get to a million you're probably going to be work 50 hours a week the whole way. So if you know that you want to take that next step with us, I would encourage you to do that. Go to million dollar agent method.com I will say my journey as I was doing it. We didn't have all these things built out. There wasn't a million Dollar agent method. There wasn't the four stages there we've got four pillars. Leverage lead generation, the appointment setting process, the consultation frameworks and leverage client care. All the systems and documents you will ever need to implement this on your own. So that didn't exist for me. I have spent well over, I stopped counting at a million, but I spent well over a million dollars on coaches and masterminds and different things. So the value of doing that has been easily in terms of my net worth, easily at 10x return. So million dollar agentmethod.com we'll see you on the other side or on the next video.