How to Scale Your Real Estate Business From $100K to $1M

Alright. If you've ever wondered how to scale your real estate business from 100k to 250k, 500k or even a million in GCI in a single year, this is the video for you. So we're going to break it down into the skills and mindsets required to push through each of these four stages of growth. Also the strategic questions that you have to ask yourself while you're growing through each of these stages. You so that you can minimize the pitfalls along the way. And also for sure the tools and systems which are a key part of this that you have to implement at each stage so that you can build a business on a solid foundation and get off the transaction treadmill once and for all. So the assumptions I've made kind of going into this, I'll say this, this journey isn't for everyone. But if you truly want to navigate out of the six figure agent mark and get on this path to becoming a seven figure agent, I will say that you could do it in less than 50 hours a week. So the assumption here, I've seen it done, my journey was a little bit sideways at times, but I was able to get down to even just one day a week as I scaled my business. So as you navigate these four stages, we're going to use the assumption of a 50 hour workweek. You do not have to give your life away doing this. The second assumption is that you want to scale your business versus grow your business. The main difference being that we're using leverage which is systems automations and delegations, right? Getting you out of the like massively low dollar productive task. And then another assumption here is that you have the heart of an entrepreneur, meaning that you're excited about building an actual business that allows for time and money freedom. The traditional methods will not have you. I mean maybe 1% of real estate agents have any level of financial freedom and those agents don't have time freedom, which is what I want for you. You scale your business and then the last assumption is that you're just sick and tired of playing the game that the industry will have you play this traditional way and that you're open to new ideas and new methods. So a little background on me just so you have some context. I was able to scale my business to serve over 5,000 families, enjoyed complete time and money freedom. I launched real estate B school really out of this realization that not everybody did what I did and my models and my systems were different than the things I was seeing in the traditional coaching space at this Point we've helped over 2000 agents not only grow their sales and income but work less hours and focus on the things that matter most to them. And I practice what I preach. I built you know, this million dollar agent method which I'll tell you more about at the end of this video. I built it for myself and agents that came into my world locally. I really never thought I'd actually become a coach, let alone, you know, doing YouTube videos like this. And then I'll say as a coaching company, we focus specifically on helping agents build lead generation and conversion systems in your business that allow you to get away from this over promising under delivering referral sources, paid leads, cold calling and begging for business. So let's jump into each of these stages. So I've kind of called these here stick. Stage one is survive. Stage two is what we call hustle. Then we've got 250 to 500 is ramp and then 500 to a million. And really regardless of where you are in your journey, there is something here for you. If you're at 50k GCI, but you know you have this plan like I just see it in my head, chances are you don't actually see it but this will give you a good idea. So wherever you are in the journey there, if you're not at 100 but you want to get beyond that, this is for you. And if you're at 250k but maybe life is not what you want, there's going to be something, a hint here about why you're not progressing to the next stage and what's holding you back. And same thing goes with 500k a million and I even have three stages beyond the million, the build stage there. So let's jump into stage one. So I'm going to go through for each of these, how does it feel? The strategic question you're probably asking yourself or should be asking yourself, your take home income, a concept that I call business freedom index. Well I'll explain that here in a second. The key systems you should be building or have in your business, the people leverage and what it takes to advance to the next stage. So in terms of stage one, this is going from 0 to 100k and I don't know the exact stats but I would venture to guess that less than 10% of agents even make it to the six figure mark in their real estate business. So in terms of how this feels, you know, getting to 100k, let's call it, you're excited, you're naive, but the Reality of the industry is that there's this massive dropout rate. I think it's Some stat over 80% within two years drop out of real estate altogether. Traditional methods in our industry are failing massively. There really is no strategy at this stage. I sort of tongue in cheek here say, you know, where's my next deal coming from? That's their strategic question. You're just looking for the next deal take home income because you're hopefully you're in a capped model with your brokerage. You're probably paying in something around 20k. So 20% of the 100k is probably going to your broker. Maybe you have some lead costs or some additional expenses, but you'll probably take home around 60 to 65, 70k or so. And business Freedom index is simply calculation that normalizes every agent. So it doesn't matter where you are. The amount of money that you take home divided by the hours you work in a year, that that's what we call Business Freedom index. So in this example, 60,000, if you take out your calculator, 60,000 divided by 2,500 hours, that's $24 per hour. So I want you to keep that in mind here, that it is predictable that as you grow, if you do it the right way and you don't do it just with more hustle, that you'll make a lot more money per unit of hour that you work in the business. So in terms of key systems at their survive stage, you know, 100k or under, there is no systems, there's no plan, it's pretty haphazard. And in terms of people leverage, this is just running and gun and you're all by yourself, just a solo agent. So in terms of advancing beyond 100k, it's those keystone habits, you know, that you are having conversations on the daily, you're building your sales skills over the phone. You're compelling people to take action and sit down and meet with you. And most of all you're really determined to do something in our industry that is uncommon. And you know, only was it like 2% of agents sell more than 25 homes. So if you know you're going down this path of building and you want to do more to get out of survival mode, out of beyond 100k is just that determination. So stage two is what I call hustle. This is 100k to call it 250k of GCI. The feelings here are, you know, hopefully super busy. Money's good, but the time is becoming a challenge. This is where Like a traditionally successful agent, they have not contemplated any systems around getting past this stage. So they're just kind of like seven days a week and it's not good money but not great for the calendar. You're likely, you know, working when you shouldn't, your spouse is pissed off half the time, those sorts of things. So in terms of the strategic question is really how can I create some order in my business so that I can advance to the next stage? So you're kind of looking at like man, I, I'm preparing for these showings or I'm actually showing homes or I'm putting out yard signs or I'm entering listings into mls. It's all so haphazard and all over the place. And you're looking to create order in the business. So take home, take home income is roughly 80% that 250k or 200k. So divide 200k by 2,500 hours in a year. That's where you get the $80 per hour. The key systems. And this will make sense if, if you know a little bit about million dollar agent method. We've got four pillars. One is leverage lead generation, then the appointment setting process, the sales frameworks, the consultation frameworks and then leverage client care. So the key systems here we've got 12 lead gen levers. The two first lead gen levers we help agents build out are Database Touch blueprint and Agent Brand Authority Builder which is using social your digital presence to generate business and opportunity. We have clients just on the database touch blueprint doing a million a year just on that one legion lever. So this is the point, if you know you're growing beyond 250k that you really want to nail down this whole process of building a database and adding value. And in that process, business comes for you without you having to beg for it. So you're still a solo agent at this point. There's no people leverage. We what it takes to advance beyond the hustle. 250k is really thinking like a business owner, an entrepreneur, which an entrepreneur thinks in terms of systems. And if you know you want to go to 500k and then potentially beyond 500k, this is when you start to think about even a virtual assistant in a lower cost economy, but hiring and onboarding an administrator. If you're blowing through 250k and and your time is in your own and you're doing all the admin tasks, this is what it takes to start thinking about getting to that next stage. So stage three is what we call ramp so the biggest thing here in terms of the emotions and how it feels is that your mindset is shifting to what's possible. So you're already in the 2%, let's call it. Cause you're already selling more than 25 homes likely when you're getting into this stage. You're wondering though if there's more to life than real estate. So this is still consuming your thoughts and your emotional rack space, still the business. But there's definitely a shift like I could really do this, I can make a run at it. You're at 500k. A million is not all that different in terms of what's possible. So the strategic question is where do I need leverage the most? If you're going to go from 500k to, you know, 250, this is to 500. If you're going to go from 500 to a million, you have to think about leverage. All the things that you're doing that don't require you to do them. That's how an entrepreneur thinks. Take home income, let's call it roughly 75% of the 500k, 375k, take home $150 per hour. So that's the cool thing here, is that you're going from $24 per hour to $80 per hour to $150 per hour. So you're not working any more hours, but you're making more money in less time. That's probably the coolest part of these different stages and navigating these the right way is that you could do it in a way where you actually make more money in less time. Key systems here, and I just mentioned these two pillars of the million dollar agent method is the appointment setting process. And it's not so much that like you don't know how to set appointments, but you have to start to standardize how you set appointments, how you qualify those appointments, how you nurture leads that aren't ready to go, and how you present your services so that you don't have to be the only one doing it all the time. So that's what I mean by appointment setting process and consultation frameworks where you're able to scale that part of your business and it doesn't have to be you all the time doing the dog and pony show. In terms of people leverage, you know, this is really where you're leaning into first a part time and then, you know, really a full time local admin is. That's the direction I went. It's still my desired Direction for most that want to get to a million plus GCI per year. And that's really the only person that you will need to bring on at this point. And then to get to the next stage it's really about delegating everything. Administrative in nature. Selling is your main priority. Putting yourself in a position where you're doing the highest income producing activities in your business and then also leverage lead generation. So if you're going to bring anyone else into your world, your ability to to build out leverage lead generation and leverage client care is the next stage. But most importantly, leads are just coming in systematically. So in our world that's the database touch blueprints, installed agent, brand authority builder, social digital online presence is running and you're generating business one to two closings per month from it. And then we have 10 other lead gen levers that we teach but you've got two fully installed, you know, so it could be our expired program which is killer, our for sale by owner program which is killer. Not cold calling but direct response inbound leads from those could be our new construction pillar. We've got a bunch of things that work at a very high level. You just want to put yourself in a position where these lead gen levers each have a shot of doing two plus transactions per month. So database is doing two, your agent brand authority digital presence is doing two. Let's say expired you're doing two and fizbos are doing two. And that gets you eight transactions per month, a hundred transactions per year and that gets you to a million. So that's why this is key in terms of advancing to the next stage that you've really wrapped your head around. Leverage, leverage, lead generation. So to get to a million we call this build. This is the build stage and like I said, we have a million and a half, 2 million and then 3 million, three stages past this stage. But it feels like you definitely are full at this point. Even with a roadmap. All of these things are likely going to be new for you. So being in our world will help you navigate them and will identify pitfalls and will help you get in front of the different things that all sort of pop up. We'll train you how to, you know, bring on a virtual assistant or an admin or maybe a showing agent or whatnot. You definitely need a clear roadmap to get from 500 to a million and then to a million and beyond if you have aspirations to build an even bigger business. But the strategic question here is what systems do I need to either build that are non existent. You know, this could be around maybe tracking, becoming the CFO of your business or even just scorecards for the for marketing or for sales. It could be, you know, bringing on a system for showing home so you don't have to be the one going out on evenings and weekends or whatnot. The take home income is roughly 70% of the of the million. 65. 70%. And that puts your business freedom index again working that 50 hour workweek, 2500 hours in a year put you at 280 per hour, up from 150 per hour, up from $80 per hour. So when I navigated this journey I was able to go from 151 year to the next year. I did 250, then I did 500, then 1,000, then 2,000, then 3,000 in consecutive years. So this really, when you set this thing up and you have this mindset of building a business versus just slinging homes, you can really compound the results and rapidly accelerate your business freedom index. The key systems here are leveraged client care, which is the fourth pillar of million dollar Agent method. And then kind of like a little different aspect here, you know we have something called the scale Mastermind where it's actually a pivot on the curriculum around those four pillars. But there's three drivers in the scale Mastermind. One is grow your team. If you really want to go from 1 to 2 to 3 million plus. And then we've got, you know, create your future which is planning and then know your numbers which is becoming CFO of your business. So that's where this agent onboarding comes in. If you like really want to you know, exit the buyer side, you want to get you pure freedom from your business. That's where this, this comes in here. People leverage. You know, you've, you've got a full time admin at this point they might be hiring a VA to work for them. And then you have two full time buyer or showing agents where you know, let's say it's a hundred transactions at a 10,000 commission check per transaction to get to a million. You're likely doing 50 listings and you've got two agents doing 25 buyers each. That's the entirety of getting to a million dollar business. And you're taking home anywhere from 60 to 70% north of $200 per hour. The journey isn't easy, you know. And so some of you may look at this and say oh my lord, I don't know if I could do that. But if you do want to take a next step with us. There's nothing I could have you lay down your credit card for. It's really, you know, just having a conversation with us. But I'll say this. If you've hustled your way to six figures, but you really don't have a plan for growth or you lack any systems in your business, for sure, go to milliondollaragentmethod.com and book in a strategy session. If you're an entrepreneur and you're stuck in the, you know, quote unquote stuck in the real estate industry, that's how I felt. I'm like, this is an awesome industry, but I want to build a real business. Like I'm an entrepreneur and you know, you want to build a business that serves you, definitely. Go to million dollar agent method. If you're tired of just grinding, riding the income roller coaster, you're ready to take a different approach for sure. Go to milliondollaragentmethod.com booking a strategy session. And I'll say this. The whole industry revolves around these lead aggregators and these referral businesses that sell us 10 times more leads than there are transactions in the business. If you're ready to stop paying for leads or doing those referral sites or cold calling or begging people for business hundred percent, you need to go to milliondollaragentmethod.com and just book in a strategy session and we'll see you soon. Be good.