The Top 3 Traits of Million Dollar Agents!

There's training programs out there that will take you from like a couch potato, never run, having run anything before, to doing a 5k in a certain number of days. The courage is to get out there, put shorts on and start walking.

Right?

You're going to develop capabilities around your diet and stretching and, you know, time blocking. You're going to do the 5K. It's going to give you more confidence to commit to a 10k. That's twice the amount and the 5k almost killed me. You're going to develop the capability, you're going to get a little bit more confidence to run a half marathon and then a marathon, right? The same thing in business.

The real estate industry has failed to create a clear path to time and money freedom. Having helped over 5,000 families in my real estate career and coached thousands of agents to scale their businesses, I know what works and what doesn't. And my goal on this podcast is to share all with you the good, bad and ugly of building a highly lucrative lifestyle business so you can focus on what truly matters in life. You won't find any hype or fluff on this show, just real world tactics.

And strategies that get results.

You just gotta do the work.

What's up, Real estate business builders? Let's get into it. This is the top three traits of, of what I call MDAs, million dollar agents. And so my journey, if you haven't heard it, is, you know, one of a lot of hard work, a lot of failure and a lot of not accepting the status quo in real estate. So by the end of my third full year, I did a million GCI in a single year. Two years later I think it was over 2 million and then one year after that it was over 3 million. So this journey of a seven figure GCI business, it's one that I've done personally. In 2013 I launched Real Estate B School which is now we're sort of 11 years and running easily. Probably a couple thousand agents have been through the journey here of taking a different approach in their business. Traditional methods won't have you at the level in real estate that you need to get to to have absolute time and money freedom. Maybe not time freedom, like absolute time freedom, you know, if you get to a million, but living a life that is, you know, worth living and owning a business or building a business rather, that's worth owning. So that's the focus of today, the three traits specifically that you'll need to. And if you don't have these traits, these will things are traits that you'll need to cultivate and focus on if you want to achieve that million dollar agent status. If you know at some point in your journey that you want us to potentially come alongside you. We have a program called Million Dollar Agent Method. So go to milliondollaragentmethod.com there's a seven minute video there that outlines the program book in a strategy session. There's no obligation whatsoever. So if you know that is part of your journey here and you just want to explore it, go to million dollaragentmethod.com. all right, let's get into it. Number one trait of million dollar agents is what I call growth mindset. And this is actually if you have ever read the book, I think it's from Angela Duckworth called Grit. In the book she talks about two types of mindset. There's a growth mindset and a fixed mindset. And fixed mindset is, you know, well, let's take for example the fear and uncertainty and doubt fud as I call it, fear, uncertainty and doubt around the nar settlement and the implications coming from for the buy side of the business. And you know, no co brokes and all of that. You know, the, the fixed mindset will think about it in a way where like oh crap, that's going to, I can't do buyer sides anymore or you know, I'm going to get out of the business. We actually had one of our coaching clients get out of real estate. You know, even though we have like all the systems in place to absolutely dominate the buyer side given this change that's coming, it's how we, we've always taught that side of the business. His mindset was like got the best of him in terms of like he couldn't contemplate how would I have to approach the buy side of my business differently from a growth mindset versus this fixed mindset that he had seen some stuff happen in another industry that he was involved in and surely this was going to happen in this industry as well. And so that fixed mindset will crush you. Uh, and so you want to approach everything as a growth mindset. And one practical the way that we go about this and this is more in our scale mastermind, not so much in the million dollar agent method, but we approach the world with a three year outlook. We call it a three year vision. So the mindset part of this is like where do I want to be? Let's just take in the real estate business. Let's say you want to have a million dollar want to be A million dollar agent three years from now, what would that look like? Like how many listings would, you know, listing appointments would I need to go on? You know, am I going to have a showing agent or do I want to show homes or do I have a local admin to kind of do all the nonsense? Admin, not nonsense, but the work that is not highly dollar productive. Like what do you actually want that to look like? It's a very, very simple model, Very simple business to have a million dollar business. But that's how you calibrate your mindset around the future. Even if today is a little bit tougher because that mindset will give you the ability to do the things you need to do today that will have you actually achieve that three year vision. Then we have a whole process where we break it down to the year, to the quarter, to the week, to the day, and even by the hour. And we attach the work you're doing in this hour to this three year vision. And that's this mindset. Our mindset of what we want the future to look like is actually brought back to the present and the activities we're doing today. All right, so that's number one is growth mindset. Number two is million dollar agents that have achieved at least a million dollars of GCI or more in a single year and they've done it with a certain level of they're not losing their mind, they're not like borderline divorce, they're not like 100 pounds overweight. Like they've achieved it in the right way. So our clients, the way we help them get there, it's resourcefulness. So I coached for a while with Dan Sullivan in his highest level coaching. It was $5,000 for one day with him. And you had to commit to four days over the course, course of a year. So 20 grand to to be in a room with 50, 60 other business owners each paying five grand to be in that room for a single day. So he didn't give the tactics on how to build a real estate sales business or a coaching business or whatever. But this framework has helped me. And when I look back on the things that I've achieved, this, this concept and this trait of resourcefulness, this is really, really valuable. So he calls it the four Cs. So most agents, or most people in general, right, just take the average American, you know, they never really get out of their own way, achieve much of anything, like above the status quo, like average. This framework of the four Cs. So I'll just list them out, then I'll go through them. It's commitment, courage, capability and confidence. So let's say you're not where you want to be in your production business and you know, you need to have, you know, more conversations every day. Our systems are attraction based marketing. So we have lead gen levers that are out there generating leads constantly, 24, 7 that are having leads come in and then our new business development time is just following up and nurturing that business. But let's say that's your problem, is that you're not having enough conversations with, you know, high quality buyer and seller leads to be able to convert them into a consultation, into a loyal client. The commitment you would make. So the first C is that all right, I'm going to commit to have 10 meaningful conversations every day, Monday through Friday. So 50 meaningful conversations a week with decision making adults about real estate. So they could look all different ways.

Right?

So but 10 meaningful conversations, that's the commitment. Most agents will make that commitment, but then you get to the second C and most just opt out.

Right.

They don't actually have the courage to do the hard thing that they just committed to. So was it really ever a commitment?

Right.

But for those that can actually make a commitment and follow through on the commitment, get through that uneasy feeling of like, the courage is the part where it feels uneasy. You go to reach out to somebody on Facebook messenger and leave them an audio message and you're like, I'm kind of interrupting their day. Or you call up a past client, you're like, they won't, they won't want to talk to me or what do I say? Or whatever. That's the courage part that you have to work through. It forces you to build some sort of capability that you didn't have before.

Right.

So let's say you are, you want to generate inbound seller leads. We've got a really good system for older expireds, a little bit of tech, not very complicated, but a handwritten letter system. That's, it's really, really good. So your commitment is you want to generate, you know, minimum two listing appointments a week via leads reaching out to you. That's the commitment. The courage is like, oh, I don't know how to do tech or I, you know, I'm not a good marketer. I've never, whatever, right? So that's the courage. You're like pushing through that discomfort. Once you get through the discomfort and you sit at your desk and like, all right, I'm going to figure this out.

Right?

You're Going to develop the capability that you need to get the result that you're looking for, right? So if it's a little bit of tech and you've got to figure this thing out and you've got to, you know, hire a kid from high school part time to handwrite these letters and then, you know, address them and get them to the post office, whatever, right? You're going to figure out the capability that will give you the result and it'll give you the fourth C, which is a little bit more confidence to tackle the next commitment. And think about this in something that you've achieved. You know, maybe it's in your, with your physical body, maybe you weren't in a good place physically, you know, and you, you did, you did the couch to 5K in 90 days. There's training programs out there that will take you from like a couch potato to never run, having run anything before to doing a 5k in a certain number of days. So you make the commitment. I'm going to run a 5k. The courage is to get out there, put shorts on and start walking, right? You're going to develop capabilities around your diet and stretching and you know, time blocking, make sure, whatever, right? And then you're going to do the 5K. It's going to give you more confidence to commit to a 10K. And then you're gonna go through the courage and say that's twice the amount and the 5K almost killed me. You're gonna develop the capability, you're gonna get a little bit more confidence to run a half marathon and then a marathon, right? The same thing in business, right? So the four C's is really, really valuable. That's the trait of resourcefulness. You can figure it out. Everything you can figure out. Number three trait. The third trait of million dollar agents is, is leverage. And so I don't know if that's a trait, a trait of leverage, but bear with me. So there's a few types of leverage. There's leverage where I was always, I wasn't much of a cold caller or door knocker. We don't really do those systems. You know, there are agents that are massively successful doing those things. So I'm not taking it away from those agents. It just wasn't my style. I'm still more of a direct response marketer. So I'm good at getting marketing out there, but very cost effectively and bringing leads in some. Most of our lead gen levers are no cost at all, but leverage through marketing. So becoming a really good marketer. Whether it's your database touch system or your brand authority builder, which is what we call social media or other lead gen levers that you're putting out there, marketing is an important leverage point in your business. Then your sales system is an important leverage point. So your console, your buyer consultation framework. Let's take that one system alone, right? If you've been used to which 99% of agents, they go out and show some homes and then there's a co broke and they get paid a ridiculous five figures. Five figures to help a buyer open some doors and negotiate a contract and get them to closing. I'm not taking away from the work of a traditional buyer agent, but that's all going to change. So do you have the system, the sales system that will allow you to sit down with a buyer before showing them homes and get them to agree to pay you whatever percentage you want to get paid, even if there's not a co broke or there's not a seller concession?

Right.

So that's another system. And then there are systems around, you know, when you take a listing, getting it, you know, all the operational systems around getting a listing into the mls, getting an offer, you know, back to the seller, getting price improvements on, on listings. There's all these little systems in your business. There's probably a dozen core systems that we teach and inside million dollar agent method there's sort of four pillars and there's sub systems that we help you build out within a 90 day period. So it's not an ongoing coaching program. But at some point to get to million dollar agent status, MDA status, you will need some leverage with a person or two. So there's systems and then there's people. A million dollar agent business, you know, let's take, let's say your average commission check was 10,000. It's 100 transactions. Most agents are probably in markets where it might be a little bit more than that. But just to keep the math simple, that's probably a couple showing agents and a good local admin and maybe one virtual assistant and you're probably netting 750 and you're probably working 50 hours a week or less. No evenings or weekends, maybe half day Saturdays. Right. I remember the last year I was in production and I was like really figuring out all these leverage points. I was the main listing agent for the team. I think I did 66 transactions in a single year. We did 178 total that year. And I remembered at that point I was still taking Saturday. I did nine, 11 and one listing appointments and I would just have them lined up. I would usually take two out of three. So it was a really good use of my time because we could leverage those listings into more buyers.

Right?

Because we don't do paid leads. So think about leverage. That's like really when you think about your ability to go from where you are today. Let's say you're at 100,000 GCI and you want to 10x your, your business, you can't 10x you, you can't 10x your hours. So leverage your hours. Leverage has to be a part of the equation. And there are systems and there are people, right? So marketing systems, sales systems, lead nurture systems. All the legion levers, you know, that we teach our systems and they provide you massive, massive leverage into the business. All right, so those are the three traits and I want you to think about where you are. Scale of 1 to 10 on growth mindset. Do you really think like what you're think like what you're seeing in your brain for your business? Do you really believe that million dollar agent status is possible? That's growth mindset. 2. Resourcefulness. Do you have the ability to commit to something and follow through, build out a capability and then go on to tackle bigger things? Right, so number two, resourcefulness and number three, leverage.

Right?

Systems first and then a couple people into your business to buy back your time, get away from working evenings and weekends. So those are the three traits. Hopefully this is massively valuable if you're at the point in your journey where you know you need to take a step and it's not a big step with us. It's just a conversation about your business. It's a strategy session. Just go to million dollaragent method.com there's a seven minute video on that page. There's a link where you can book in a strategy session and we'll see you over there. Be good.