Inside a $500 Million Dollar Real Estate Operation: The Secret to Being a Great Leader w/Jennifer Wehner

Welcome to Real Estate Business Builders. I'm your host, Lars Hedinborg, the founder of Real Estate B School. Bottom line, the real estate industry has failed to create a clear path to financial freedom. Traditional brokerages and coaching are designed to keep you running on the transaction treadmill with no exit strategy. While I didn't have any sales, marketing or business building experience when I got into real estate, I was willing to bet on myself and figure it out because my family was dep on me. Having served over 5,000 families with their real estate needs, I've made every mistake you can possibly make in this business. And I've helped hundreds of agents and team leaders realize their goal of true time and money, freedom and living a life without regrets. If you know there's another level of growth inside of you and you want to learn how to build a highly lucrative lifestyle business, then you're in the right place. You won't find any smoke and mirrors or hype here on this show. Just real world tools, systems and strategies that work. Let's grow together.

Welcome back.

Real Estate Business Builders.

Lars Hedinburg.

Here, the founder of Real Estate B School.

We have Jennifer Waner. Today she's in Phoenix. Phoenix, Scottsdale, Arizona in that market and her team will do 300 million this year. And Jennifer shared with me that that was almost not acceptable. Like big goals next year the goal is 500 million, which is just awesome. So Jennifer, real quick, kind of unpack like your story briefly and then I want to just dig into the your journey and how did you go 18 years in the business, you know, what did the different sort of growing pains look like and when did you start the team and your first hire and we'll get into all that, but give us a quick intro.

Alrighty. I like to kick it off with little music like so I just picked up the harmonica a month ago and I think everyone should play an instrument and that's the easiest one. But I have been an agent for 18 years. I now run a team of 40 agents and growing have a network of agents throughout the country of 370. I am an entrepreneur so I have passive forms of income in terms of investments and JVs with title insurance, all the different pillars that, you know, we, that are all interconnected to the experience but you know, monetizing from it and coming at it from an owner perspective. I if I haven't mentioned a mama 4, 6, 12, 6, 11, 15 and 25. So quite my hands full. But I believe in both professional and domestic leverage also just for fun, I Am a polymath so I love to learn about science psychology. I'm an astrologist, art history history. So I am very science psychology. Just I'm a learning junkie so. But animal foodie, biohacker. I've literally biohacked my body to get to cure my autoimmune dise which almost could have took my life. And I was about 7 years ago weeks away from having to have a colostomy. So limiting beliefs, getting past those has been something my life purpose has been about and really unlocking that in others is one of the most exciting things that I've been able to experience. And I'm so blessed to be at a, in an area in a country that allows me to have this freedom to grow and see the opportunity And I love this book Magic of thinking big, but thinking big, you know, in your imagination. So that is awesome.

There's like 10 things I want to get into. Let's, let's start. I'm going to shift gears real quick. Let's start with the limiting beliefs part of it. So how does someone, you know, you may not have a background in business or a background, you probably didn't have multiple streams of income when you started in real estate. But talk about what you needed to do around your mindset and your belief system to be able to sort of think with the end in mind or whatever it looked like for you. But let's start with the limiting beliefs part of it because I think that'll be really valuable.

Yeah. First of all, we might be new agents, but I don't think we give like if you're getting your license or whether you're maybe you've been licensed for 15 years but you're starting a team or maybe you're building a team and you're still an emerging team leader even if you're an established team leader. We're in a different market so we're all new agents in this market. But what did you do before that? What adversity have you faced before that? I do a lot of research on trauma healing and from what I see is more people have trauma and what affects them, what the upbringing is where our society is at today. But I was, when I got into real estate I had been a teen mom. So when I was 18, first went to college I was so excited to of my parents house and out of Riverside to the beach in California and I had to, you know, put up with a lot of crap to be the top earner at the restaurants and that I was at and the adversity in that itself helped me like where, when my feelings didn't get hurt so much in business. But a lot of the limiting beliefs that I had, I might have had confidence, but I didn't have high self esteem. You know, when I was growing up, I was like made to feel by both my peers. You know, I was bullied by like my family. I was the weird one and that I was never enough, you know, that like I, and that's part of like why I'm here. So I use that like to prove them wrong sometimes, but also to just own that I am enough. And I still think I'm my own harshest critic. And there's still limiting beliefs that we, that I still get through, that I didn't even realize I had. But you know, I, I really love Albert Einstein's quote. He had a quote. Logic will take you from A to Z. Imagination will take you anywhere. And I think back to when I was a kid and you know, I've survived certain deaths a number of times, including crashing my motorcycle, which literally, you know, I had 18 stitches in my head, literally affected my brain. You know, I tried to commit suicide when I was 14 years old for the, like a year after that accident. Now, had we known what we known back then, we would have known that that head injury, so traumatic can lead to, you know, depression. But, you know, sometimes it's what Brendan Bouchard says, it's fear and oppression that will hold you back from realizing your true potential. Now if I have a fear, and I have, if I know I have a fear, I face it. So I was like, for instance, scared of public speaking. So what did I do? And I, when I got up in stage, I literally would be like this, forget what I'm saying. And then as I went to Toastmasters, I got more and more comfortable so facing my fears. But I think the biggest thing that really did affect me wasn't my fears, it was oppression and oppression from myself. Oppression from really giving too much credit to what other people think about me, my family, my peers, you know, doing things a little differently. I am different. You know, I've been called crazy and I, I claim that because that's where all the creativity comes from. But when I go back again to when I was a kid and that imagination saved me, that imagine saved me from certain boredom, you know, of like sometimes being in class when, like it was easy, it was too easy, right? But I couldn't get along with, I didn't understand how to get along with my peers. Because they didn't talk the same language I did. I was interested in Leonardo da Vinci and they were talking about new kids on the block, you know, and I thought that was me. I wasn't cool enough. But when I stopped and I'd say in the last two years, I probably have given. I just, I. I'm a custom Irish, sorry. But I've given an f less about what people think of me and the more, you know, to an extent, like the people that you value. And you need the feedback, of course, because you're always a work in progress. But worrying about how I was fitting in, you know, and trying to fit in when I really wasn't meant to fit in, you know, being able to have that individuality and doing things like thinking of different ways to do things, that was the way that worked for me, you know, that. And I do believe there's an artist in each and every one of us. It's in our hard work is sometimes the best thing that we can give to other people. So the limiting beliefs, I think that you're. If you say you can. What did Yoda say? If you say you can or can't, you're right, you know, and just see, being cognizant and aware in the moment of the thoughts that I'm telling myself. Things like, I'm fat, I'm stupid, no one likes me. Now, I've been told that, you know, and sometimes those words in my head, sometimes the words in your head or anyone's head, you don't know if those are your words. Or maybe that was somebody that. Maybe it was your mom, maybe it was your ex husband, maybe it was up here, maybe it was somebody in the second grade, your second grade teacher, who knows? But if you're more aware of what you're telling yourself, would you tell your best friend that? Of course not. You know, and so realizing that so many of these words in my head weren't mine, you know, I've been able to shut them, let them go. And again, like, not. Not putting all my value in other people's minds, like taking that value back and owning it.

Yeah, that's so good. I tell my wife sometimes she's really. She's putting herself out there. She's got a podcast, she just wrote a book, and she's getting really fearful about this book actually going out into the world. And, you know, the things that she said, I always just say to her, like, man, you would never talk to your best friend like that. You would never. You would be encouraging. You would be like, you can do it. So I really love that. All right, so let's break down. I would love to go into the biohacking because I geek out on all that stuff. But I'm not going to do it because we're not going to have time. Let's go into the business building side. So let's try to figure out a couple points in the journey where you had like a crossroads or a decision to make. Like usually it's like you're a solo agent and you're so freaking busy, you maybe have young kids and you're like, man, I have to hire my first hire or install systems or. What was that first point for you and your journey to building this massive business that you can recall was like a come to Jesus kind of moment.

I think a lot of people think that I always have to be doing things. It's true. But I do think there's a lazy person inside of me just trying to find a way to be lazy. I the one of the first turning points, because there's been a number, was three weeks after I got my license. So three weeks after I got my license, October of 2003 was the end of October on Thanksgiving, I was getting calls and at this point I had worked three weeks straight. And I was used to being able to have like a day off before I got into real estate. And I was mad, you know, I was like really mad. Like, how dare you call me on Thanksgiving. But I also knew that it was a client need, you know, it was a need in the industry. So I hired my first assistant a month into having being an agent. Now I didn't know what I was doing. I'm not like, it wasn't the best setup in the world for probably both of us, but it worked for a couple of years and I was able to offload all the crap I didn't want to do. My like, I knew that paperwork was not my something I want to spend time with. I wanted to be face to face. I wanted to be getting the business, I wanted to be building. What's my marketing pillars. I also was a heavy investor back then. If I would have taken Robert Kiyosaki's advice, I wouldn't have done so because I was billing about 12 luxury homes. I owned a four multifamily and about another four to five single family homes. And then 2008 called and wanted its money back. And so it was devastation when you're like, net worth is not just zero, it's like negative millions and that's literally where I was at, thinking that I was setting my family up for the best. I wasn't spending a lot personally when I was making money in 2004 and 5 and 6, I was putting it back into, you know, real estate investments, back into my business. And I had a pivot very fast in 2008, because when your card gets declined for lice shampoo for your kid when you're three, when, you know that's embarrassing, right, that's something I never, ever would want anybody else to go through, let alone myself. So I had to pivot. I got into REOs, I got into short sales. I was literally giving birth on my brain. My 11 year old in 2010, right before the market turned around and I was negotiating a short sale and the doctor came in and said, the baby's head's crowning. You have to push. And I'm like, I'm with a supervisor. This goes to foreclosure tomorrow. And so I obviously knew I needed leverage because I literally was not even going to push my baby out when it was ready. So. And that's. That's not the way a child should come into the world. And so in 2011, things turned around. You know, I. I did a lot of video, I did a lot of Google, a lot of blogging, you know, putting in the hard work that didn't see all the immediate returns. But then when it turned around, I started to see immediate returns, and I think I flipped 50 homes with an investor that year. I 2012, things shifted again. The hedge funds came in. I could no longer be at the auctions every day. So. And then that's when I really got into, like, marketing, you know, using different pillars, building my pillars of business out. And 2014, I intentionally started the team that I have today and my first buyer's agent in 2014, Marcia, she's still with me eight years later. And last year, she had her best year ever. And by June, she already made what she made all of last year. So, you know, it's. Obviously, there has been a lot of failures and mistakes all throughout the process, but the. The key thing now is I am not alone in this journey anymore. I have great coaches, I have mentors, I have a tribe within exp that we mastermind weekly. And if it wasn't for that collaboration, you know, if I would have had that same tribe in 2005, 6, 2008, I would have known where to pivot and I wouldn't have done what I did in 2008, which was not only was I trying real estate, I tried network marketing, as I would try to sell you a World Ventures or like an energy drink. I also got into commercial. Wasn't my gain, you know, but if I would have had that wise counsel, I would have known where to pivot before I had to, you know, because if we change after, we already have to, it's hard, you know, you're late to the game. But if we change before we have to change and knowing that we're going into a market that's just going to slow down, it's not going to be 2008, but it's going to be like a market we've never experienced before. You know, it's just a changing landscape. We're in the technology, like, revolution right now. And with that embracing that change and knowing that when you've gone through adversity and you can learn, take ownership. Because no matter what happened in my business, it could have been an agent gossiping about me, leaving me in trash. It's still my fault. It's when you take 100% ownership, you always see a way that you could have been a better leader. And. And I'll spend the rest of my life, you know, I'll never hit that mark of, like, perfection. None of us do. But what I really embrace is, like, looking up to the people that I admire and, like, say one of them would be, like, Tony Robbins, you know, Tony. What kind of traits does Tony Robbins emulate? You know, courage, masculine, feminine energy, compassion, you know, guts, you know, going for it, taking action, you know, and not letting his story, which, you know, he has a story too, where his mom was very abusive. Not let that story define you, but let that story fuel you. And when we all have stories, we all probably don't give ourselves enough credit for the crap we've already had to get through in our life. And simply by asking for help and learning to leverage with humans, learning to leverage with technology. There's the arts and a science to everything I find. But giving back to humans is, for me, it's like, that's why I'm so obsessed with psychology. It's one of the best gifts. I feel sometimes selfish because I like seeing people grow. I like seeing that spark ignite in them and for them to be able to see so much bigger than they ever have before. Because that imagination, if we go back to when we were children, we thought so big. I don't know what you want to do when you were a kid. I wanted to be president, United States, but it Was that imagination? If we can get back to that childlike awe, that imagination you see, your problems are so minute. They're all, they all can be solved. But thinking big has always been thinking big. Go big or go home has been my slogan.

Yeah, that is so good. So tell me, what would you tell the 2014 Jennifer about building a 300 million or a five, let's call it a $500 million real estate team? What would you tell her eight years ago?

You know, I think I was too focused back then on the what's, you know, and not on the who's and meaning, like what did I need to do? What technology, stack did I need? What CRM, what, what what? And if I would have taken a pause back and looked in the mirror in my reflection of who did I need to be, who do I need to have in my tribe, I would have been a different person a lot sooner than having to go through some of the trials that I went through and I would have been able to set the people that align with me up with more success as well as myself because I, you know, I believe as a team, all parts are part of the whole High, high, sorry, high tides raise all boats. And leader, being a leader really is, it's a sacrifice. And I think we don't like, I think in today's age of like life, liberty and the pursuit of happiness, we don't understand what sacrifice is involved along the way. But when you make that sacrifice, like love takes sacrifice and when you make that sacrifice, it's worth it. You know, you, but you get your time back, you get your, you, you're helping other people. You know, you're not just so self absorbed in your own world, worried about your own bank account. By helping others win, you start winning and the more people you help winning, the better you feel and the better your bank account feels.

That's awesome. What would Marsha say that your, your best characteristics, how would she describe you? Your, Your first hire, that's seen all of it. She's seen the good, she's seen the bad side, she's seen the ugly cries maybe or whatever. What would she say about you and, and how you've helped her over the years?

Well, first, I love that she's not an agent. That's like, well, I can run a team so much better than you, you know, the ones that have never ran teams. But she has told me she would never want to do what I do, so. Meaning that she appreciates and she understands all of the hard work behind the scenes. Of hiring the transaction coordinators, getting our. Our, you know, systems in place, getting our marketing in place, you know, as we grow, like, making sure we provide the same level of service. And there is bumps along the way. But one thing she knows about me is that I'm obsessed. You know, I'm obsessed about making my dreams come true. I'm obsessed about helping others make their dreams come true. You know, some doctors would diagnose me with obsessive compulsive disorder. But, you know, I think. Well, and I don't just. I think I believe that it takes more than just a little passion if you really, really want to get somewhere. It takes a level of obsession that most people don't embrace because they're, you know, kind of sometimes just stuck in their own worlds.

Yeah, that's so good. So let's transition. Tell us a little bit about the book and how people can get in touch with you.

Yeah. So, you know, it's funny, about six years ago, I've wanted to write a book my whole life, and I had a broker that told me, if you're going to write a book, stop talking about it and do it. So I actually stopped talking about it until a publisher came to me last year and I was like, okay, so it took a year. It's been done. But writing a book, there's a lot involved in the process, but I put my blood, sweat and tears into it. My media manager, who's been with me for four years, I absolutely love her. She's like an integral part of our growth. We wrote this together, and it's called the Renaissance Real Estate Agent. How to unleash the art of systems in your business. And I go through everything of the. Who's the. What's the financial advice? How to build a team. Talk about professional leverage, personal leverage. And I really coach to the spiritual wheel. Like, when we look at our lives, I do like what Gary Keller said is like life, you're never balanced right. You never get to a point of total equilibrium that lasts more than a few minutes. But we can always use a visual wheel. It's very visual, so it's hard to talk about it, but. And each segment, spirituality, love, life, money, work, friends, you know, where would you rate yourself in 1 to 10? And as you connect these dots, the first time I did that, I look like Twinkle, twinkle little star. And it's now mine looks more like a wheel, but it goes into some of those just atomic habits of, you know, action blocking, both personal and professional. I mean, they say the top CEOs of Fortune 500 companies even calendar sex and with their wife because they know happy wife, happy, happy life. So for me, I calendar everything in. But, but it is, it's. It's really. I believe it. I know it might be partial, but it's a, it's a timeless book inspired by Leonardo da Vinci and a lot of his key principles. And we are in the Renaissance right now, especially here in Phoenix, but we are, you know, it's a time of endings and beginnings. It's a. The time of easy real estate. It's ended. The time of like, challenges, but finding more opportunity in those challenges and who you have to be leveling up. So time to take market share, you know, and for the ones that are willing to roll up their sleeves, have a servant's heart, drop their ego at the door, and just go to work, you know, and working smarter, not harder. And again, I really heavily stress collaboration. You know, one quote, I'll. I'll stop quoting you after this. But, you know, it's not this Darwin, Charles Darwin said, it's not the most intelligent man or the most capable, but the one quickest to pivot that ultimately survive. Now, Chris Voss took a little spin on that quote. It's not the most intelligent or capable, but the most collaborative man that ultimately survives. Because if you are collaborating, if you look at the five people around you, the people you spend the most time with, you know, what are they telling you? Are they supporting you? Are that. It's a, it's not just the money, it's a collective energy. So in that I am on Instagram, probably the easiest way to connect with me. That's where we'll be announcing our book, our site, how you can preorder if you want coaching. You know, it's the easiest ways to DM me. I'm on YouTube, you can find me on, on Google. But the easiest, best way. And we look at our, our DMs every day. Just find me Jennifer Waner on Instagram. Follow me dme, send me a shootout. And you know, if you're interested in growing your business, I'd love to learn more about you because every one of us has a. Their own individual business and market and their own individual goals and we can all achieve them. But I just find that the collaboration piece is integral in that journey.

Awesome. And I look forward to you crushing 500 million next year. This has been so good. I almost want to just personally chat with you about the biohacking. And give us one thing. Let's end on this one life changing thing you did on the domestic side.

In terms of leverage, one white. Well, okay, probably one is cleaning. Like, I actually at the time, my husband is no longer my husband. I had to tell him why I was spending $150 a week on cleaning when I can do a better job. Because I was raised by my mom and my mom has ocd. I have ocd. Our houses are clean. So I know I can clean my house better than my cleaners can. But even if it was me sitting and watching Netflix for, for four hours, maybe that's the R and R I needed. But my dollar per hour was about 10 times the amount of the time I hired a cleaner for. So for every hour I cleaned the house, I was losing like 800 bucks an hour. So the cleaning was the first thing that I took off. That was probably 2011. Right. As things turned around, I'm like, I need my house clean and beautiful. Like, and I can't. I don't have the time to do it because on Sundays, Sundays are my family days. Sundays are the days I spend with my kids and I am not going to be cleaning.

Yeah, that's awesome.

Yeah.

Because I think it's as much as, you know, if you love to mow the lawn, then you should mow the lawn. But if it's not like passion for you, then there are people that are put on this earth to mow lawns and they love to do it. Maybe some of them don't love to do it, but that's really, really good. So definitely connect. Last name is W E H. So Jennifer Waner on Instagram. I would love to. When's the book coming out? When's it hitting?

We are going up for pre sale next month and then there'll be print in January. And I have a big goal of selling 5,000 copies. I should sell a lot more than that. But anybody that buys a copy gets a free coaching session. I just came up with that. But, but truly we're looking at growing internationally and learning Italian right now because one of my bucket list items is to get to Italy and, you know, maybe have some form of business there.

Awesome, awesome, awesome. Well, thanks so much and we'll talk to you soon.

Thanks, Lars.

Thanks so much for listening. Would you please take a minute to share the show with other agents who may be struggling? And if you love the podcast, please leave us a five star review on Apple Podcasts or your favorite podcast platform and make sure you visit ScaleOrDieBook.com to get a free copy of my book. That's ScaleOrDieBook.com it's a nuts and bolts guide to building a real estate business that gives you true time and money freedom so that you can live a life without regrets. Thanks again and see you on the next episode.