The TRUTH about being a PART TIME Realtor

If you're a part time real estate agent, you want to make the leap from your full time gig, maybe that safe paycheck, into the lucrative world of real estate and get to those two, three closings per month, 20 to $30,000 per month of income. In today's video, I'm going to give you a very specific guidance and advice how to beat the odds. 80% of agents do not make it to their second year in the business. And I don't want you to be one of those agents. I don't want you to be a statistic, I want you to crush it. In this business, real estate could be a very lucrative opportunity, especially if you install systems in your business to generate enough leads to get to two to three deals per month. That's where this business gets really fun. In case you don't know who I am, my name is Lars Hedenberg, the founder of Real Estate B School and the creator of the Million Dollar Agent method. In my real estate sales journey, I was able to serve over 5,000 families. And since 2013, when I launched Real Estate B School, I've helped over 2000 agents and grow their sales scale, their businesses in a way that allowed them to live a life of absolute freedom. But the hard truth about our industry. According to the national association of realtors, the average two year agent earns less than $10,000 of gross commission income. And industry veterans with 16 years of experience earned $92,000 of gross commission income. And that's before expenses. So industry veterans are probably taking home 60 to $65,000 per year of net income. Sure, you're getting into real estate, wanting to earn at least a six figure income, if not a multiple six figure income. And that's what I'm here to show you exactly what to do, step by step. If you're new to my world and you haven't heard of the Million Dollar Agent method, the big promise is in 90 days, we help you install the lead generation and conversion systems and the consultation frameworks to get you to a run rate of two to three closings per month. And I know that's hard to believe, only 1% of agents sold 25 homes or more last year. But with our systems all inbound, all organic, no paid leads, no cold calling, no door knocking, no sitting at empty open houses or posting, you know, stuff on social media that gets zero engagement, all of our systems are proven and they're all attraction based marketing, which I'll get into here in a little bit. But if you do this right and you build the business with a solid foundation that lead generation systems that are proven to work, lead conversion systems that warm up prospects so they're pre sold on working with you. And consultation frameworks that are proven to get buyers and sellers to work with you at your commission rate, including transaction fees. It is game over. Before I get into the tactics, how to get to two to three closings per month as quickly as possible, here is a warning. Once you get into real estate and you make that shift from part time to full time, you will have the worst boss ever. Yes, you become your own boss and magically you think you live this life of freedom, but you need to double down and do the things required to become successful. Especially if you're going to do real estate part time as a side hustle. If you have a full time job, just think of it this way. What would happen in your current job if you were to sort of half ass it most days and you didn't do the things required to get your paycheck over the course of a year? Let's say you make $60,000 per year. In your current job, let's say you work 40 hours per week, that's $60,000 divided by 2000 hours that you work per year, that's $30 per hour you're getting paid. In real estate, there's an opportunity to make triple or quadruple that if you take the right steps. But if you don't do the work required and you're not disciplined with your time, this opportunity can pass you by pretty easily. The most important thing you need to know as a real estate agent, making that pivot from part time to full time. What are the activities that make you the most amount of money as a real estate agent? I call these key performance activities KPAs and there's only five of them. They're P, L, A, N S. So prospecting, lead follow up, appointments, negotiating deals and building systems. Now this training is outside the scope of going into all those things. But the P and the L, I lumped those together in what I call new business development. Prospecting is first time conversations with potential buyers and sellers. And the L lead follow up is most of them aren't ready to transact, right? They're not ready to move when you have that first conversation. So you just need to organize that, nurture those leads. And so they're ready to work with you when the time is right for them and then you just follow up on a regular basis. So that's lead follow up. Those are the Two leadingest indicators of success of a real estate agent. How many conversations did you have in a day with a decision making adult about real estate? And those are the key performance activities that are going to lead you to success. Now if you're constrained with your time because you're working a full time job, you better make sure that you're getting to, you know, five, seven, ten meaningful conversations every day and then you're organizing. You know, if you get a lead, somebody that you're going to put into your database to nurture as a lead, follow up, make sure you're sending out items of value and whatnot. So next thing I want to cover is getting your systems. And when I say systems, especially for an agent looking to make the shift from part time to full time, specifically I mean lead generation and lead conversion systems. There's the most important systems that you'll build out in your business. And I'm not talking about traditional methods, the blood and guts way of doing real estate. Like I said, paid leads, cold calling, door knocking, sitting at empty open houses, or posting online and nothing comes of it, right? There's no engagement, no interaction whatsoever. I'm talking about building attraction based marketing systems in your business. Specifically what we call the database touch blueprint, the agent brand authority builder. Maybe it's a for sale by owner direct response system or expired letter system, or our motivated seller letter campaign or our new construction systems. These are specific lead generation systems that put you in control so that you can generate your own leads and not have to rely on the paid sources or the referral fees at closing. I can imagine that some of this feels overwhelming. Here is the truth is that every part of this journey will be uncomfortable. I know that's hard to hear, but you need to be comfortable with the uncomfortable. Every part of my journey. You know, I didn't have a sales background when I got into real estate, yet I managed in my first 10 months to sell 27 homes. I never hired an assistant before. Yet that second year I went to 44 transactions and five years later I sold 453 homes. I had never built a business before. I'd never built systems before, marketing systems or you know, automations and delegations and you know, I had never done any of that stuff before. But I was able to 10x my business and get down to working 1 day per week because I didn't let the discomfort of learning something new or challenging myself get in the way of what I knew was possible, which was a life of absolute freedom. And that's the same thing that's possible for you if you have a plan and you work that plan. There's an expression in business called burn the boats. At some point you have to be willing to not look back and leave that full time job. And I know that's scary. I definitely recommend building up some sort of financial reserve. Maybe close two or three transactions in six months and put that money away so that you can make the full transition into real estate. We had a member come in that was working a full time job. He was a maintenance technician on high tension power cables and he was able to, in less than 90 days, not only get his database together, not only get his social proof and his Google business profile and get a whole bunch of reviews and start to generate leads and opportunities from that. He put together an expired system that generated inbound expire leads to the tune of $2.7 million listed. And I think one of them even went under contract within 90 days. That's over $60,000 worth of income with just one of our lead generation levers. So this is not sort of pie in the. This is something that you absolutely could do, but only if you're willing to go all in on your real estate business. Of course I don't want you to do it irresponsibly. If you have people that are relying on you, you need to do it methodically and like I said, have that financial reserve. But at some point you must go all in because real estate is really hard to do part time. I would argue that there are way too many real estate agents that don't take this business seriously and I think actually give it a bad name. You are helping someone with the most important financial transact of their life for the most part. For most people this is probably the majority of their net worth is in their home and they want someone who's going to take it seriously and being a part time agent I think does them a disservice. So really plan to make that full time switch and burn the boats. That's my best advice I can give you. The good news is that you don't have to make this journey alone. Maybe you'll just plug into our YouTube videos and you'll get free training that way. But if you're ready to make the shift from part time to full time and you have the means to do it and invest in your business, go to milliondollaragentmethod.com at least watch that 7 minute video book in a business growth strategy session because you can stand on the shoulders of giants and learn from someone who's already been there ahead of you. Right? Our Million Dollar Agent method program. You'll get all of the lead generation levers built out. You'll get all the lead conversion systems built out. You'll get all of your consultation frameworks, a listing presentation, buyer presentation, all the pre list packets, equity evaluation tools. Everything you will need for every part of the journey to get to that two to three homes per month run rate within 90 days of working with us. So go to milliondollaragentmethod.com and we'll see you on the next video.