Quadruple Your Production And Reduce Time Worked (Client Results)

How can you quadruple your production while working less hours and experiencing less stress? Big claim. Hopefully enough to have you stick with me in this video. You know, in our business, traditional success will have you working a ton of hours, you know, experiencing all this stress, being wrapped up in the drama of every freaking real estate deal you're in. And at the end of the day, what do you have to show for it? You're not hitting your financial goals. You're missing out on the key events in your family life. You're not taking care of your physical body. Your spiritual walk is off kilter. There's no walk emotionally, there is no emotional well being. So how do we grow our business at the same time not give our life away in the process? Make sure you stick around to the end of this video. I'm going to give you a free report I put together. It's called the Real estate Business Growth Navigator. It's going to take you through the six stages of of business growth so you can make the shift from grinding it, losing your mind real estate agent to completely free time and money business owner. If you like the video, make sure you give me the thumbs up. Make sure you subscribe to the channel and turn on notifications and also leave me comments so I know that you're listening and I know that I'm adding value to your business growth journey. When I think about, you know, making the shift and growing your business without giving your life away and, you know, not taking on more stress. There is a client that I've been working with for four or so years now, Cody Riddle in Phoenix, Arizona. Cody was 18 years in the business. So you talk about traditionally successful real estate agent. I met Cody on the tail end of, you know, coming out of the Great Recession years. And so this was probably three or four years after the Great Recession had sort of taken its toll on Phoenix especially, you know, I think average price point went from about 330 to like 140 in Phoenix during those years. And so Cody was sort of rising out of that. Had fallen out of love with real estate like nobody I had met before. 18 years in the business doing about 250 to 300,000 of gross commission income when I met Cody and we really had to get through some stuff. You know, there were so many traditional mindsets and traditional ways of thinking that we had to work through to be able to allow Coty to envision a business that didn't depend on her. So when I think about these six stages of business growth, you know, Cody came into our world at stage two, which is 100,000 to 500,000 GCI, where if you don't put the proper systems into place and you don't have the proper administrator and you don't think about like the next step, which is letting go of some of the buyer side production, you're not going to scale your business. So fast forward, you know, Cody was able to go from about 300,000 to 1.5 million this year, working 60 to 70 hours a week hating her business, to completely falling back in love with her business, doing five times more, you know, gci, taking home more than five times what she was before. And there's just a few things I want to go through that I need you to check yourself on to see. Are you stuck in these traditional methods, these traditional ways of thinking that our industry wants you to believe so that you don't experience the same growth that Cody was able to achieve. The first thing that Cody and I worked on was to get absolutely clear on what she wanted for her business and her life. And so she had an 18 year track record of doing things that the industry would have her do, right? For the most part, playing small in the grand scheme of things when it comes to business ownership, yet still playing the top of that traditional game. So at 300,000 GCI in her market, that's the top 1 or 2% of the market. So she's not playing small game by traditional measures. Yet when it comes to true business ownership, we had to get clear on what she wanted. And so she didn't want to work evenings, she didn't want to work weekends, she wanted to just work the listing side of the business. She loves working with sellers, she loves working with people that know, like and trust her. And it's not this, you know, grinding out a transaction, trying to convince somebody to take her advice or to pay her her commission because she's worth it, or additional fees because she's worth it. Right? So how do we make the shift from everything is miserable doing 30 sides a year to doing 150 sides a year where she's only working on the parts of business that she truly loves? And so really just envisioning what she wanted for her business and just writing down those things. Similar to me back in the early days where I wrote that three, five and ten year plan. It was how many hours do I want to work, what part of the business do I love and want to work on? You know, what are my standards around evenings and weekends? You know, how much time am I going to spend working in my business versus on my business. What's my team going to look like in the next three years or so? Getting really clear on what the business is going to look like. Without a plan there's not a whole lot. There's no chance that you're going to achieve what you want in your business if you don't have a plan. So with that plan in place, the second thing that we focused on is building the systems to get her out of doing all the things. So I believe, I don't believe it's actually fact. If you, if you're willing to think about the different jobs you do on a daily basis. There are like 12 jobs a real estate agent could do. They're running signs or lockboxes. So they're a runner, they're designing brochures, they're doing Facebook posts. So they're a marketing coordinator, they are handling listing clients when they're coming come in. So they're listing client care coordinator, they are a transaction coordinator because they're doing closing details, they are hopefully doing new business development. So they're inside sales, they're meeting with buyers, so they're outside sales. They are you know, hopefully leading and managing if they bring people into their world. So on and on. You know you can quickly sort of add up the different jobs that, that you're doing as a real estate agent. And so the next process, the next step for Cody was to identify the jobs that she was doing that weren't leading her to the financial freedom and the time freedom that she was looking for. And so, and it's a brutal process. Brutal meaning you have to experiencing you know, a little bit of short term pain for some long term gain. And that includes being really honest about where you spend your time. Nobody wants to do this part. It blows my mind. Nobody's willing to do a simple time study. Alright, for the next seven days or 14 days I'm just going to be honest with myself. From the moment I wake up to the moment I go to bed, where am I spending my time and then just take an inventory of what that looks like personally and professionally. Are there areas that I'm focused on that I can get off of my plate so that I can replace those activities with things that are a better use of my time, you know. So in the early days Cody was making probably $50 an hour. Her take home was probably about 150 and she was probably working 3,000 hours. 150 divided by 3,000 is 50 bucks an hour. So that Means that she is surely doing listing presentations and buyer consultations. She's probably generating some new business. So she's spending some time in higher dollar productive activities. But to average it out at 50, she's spending a lot of time on 10, 12, $15 an hour activities. And so think about where you are in your journey and where you're spending your time and if it's time to take an honest look at where you're spending your time and like I said, put the systems in place to do the heavy lifting. So instead of, you know, you having to be the one to post on social media or to obtain testimonials from clients or to reuse those testimonials or to, you know, give the clients and experience, buyers and sellers, the experience that's referral worthy. What part of the jobs of a real estate agent can be systemized? That's number two, the third part of the journey, you know, that coty experience in terms of just being able to show up as a business owner is this ability to hold her team members accountable. We tend to think of the word accountability as this really awful word. We don't like to talk about accountability. We think that nobody wants accountability. And it's a really simple equation. It's leadership plus management equals accountability. So leadership is the part of you as the team owner where you are casting vision, where you are creating a space for your team to step up in and take over roles that you're stepping out of. Right? Is providing direction for your team, this vision that you're going to be more your core values, letting the right people into your world. Management is building the nitty gritty systems, bringing people in and empowering them to run those systems. So whether it's marketing systems or whether it's client care systems or it's client servicing systems, there's all these things that need to happen. That's the management part of it. If you lead properly and you manage properly, the byproduct through clear expectation setting is accountability. And so that's one thing that Cody didn't have experience in which I didn't have experience in either. Most of us don't have experience in leading and managing and holding people accountable. But it's this commitment to learn those things. You can learn how to lead well, you could learn how to manage well. And the byproduct is this sort of culture of accountability where hey, I know what you're supposed to be doing. You know, I've given you the tools and resources, now it's time for you to do your job, check back with me and coach that person to success versus micromanaging them. So clear expectations, management plus leadership equals accountability. So those are the three things that allowed Cody to go from miserable fall, fell completely out of love with real estate, doing 250 to 300,000, you know, top line making $50 an hour to making probably about $250 an hour, maybe even more because they've taken their hours down quite a bit. So like a 6x increase in their overall profitability from a time perspective. And so it happens through just slowing it down, looking at where you're spending your time building the systems and looking at your ability to manage lead people and hold them accountable. So if you're at the point in your journey where you wish there was a step by step guide, I put together a special report. It is the Real Estate Business Growth Navigator. Just go to realestate business growth.com that's realestate business growth.com or click on the link below. If you liked the video, give me the thumbs up. Make sure you subscribe to the channel and turn notifications on and leave me comments we'll see in the next video.