These Five Things Are Hindering Your Real Estate Business Growth

There are five things that are crushing your chances of scaling your real estate business. But the question is, what are they, you know, traditional success in our industry. The industry wants a whole lot of agents selling a handful of homes each. And that's the way the business is set up. The industry wants us to underperform. It's a weird thing, you know, and it's evidenced by the fact that anyone that gets their real estate license, they don't actually know how to do real estate. Maybe you know, how to stay out of real estate jail. You don't actually learn how to scale a real estate business. And so when I think about, you know, business and real estate in particular, I still see the opportunity as clear as day. You know, what I was able to achieve with my real estate business and go from agent to owner in a four or five year period and our members that have done it like time and time again after me, it is just a shift in your mind around what's possible for your real estate business. And there's a handful of things. If you just do these things the right way, it's possible to make more money in less time and endure less stress in your real estate business. You know, if you stick around to the end, I'm going to tell you about a chance to spend time with me coaching and training. It's going to be awesome. Make sure you like the video. Make sure you subscribe to the channel and subscribe. Make sure you turn your notifications on and leave comments so we can go back and forth on any topic I cover. I love the interaction. So there is no shame if you have not cracked the business freedom code yet. You know, only 2% of agents in the United States will sell more than 25 homes per year. So that's 98% of real estate agents sell two or less homes per month. And I think it's only about 15% sell more than one home per month. And so we're in an industry where, you know, scaling a real estate business is not the norm. The question is how do you need to look at your business? How do you need to operate? What are the things you need to do to go from where you are today to actually owning a real, real estate business that gives you freedom outside of the business. You know, if you're grinding like traditional real estate agents, maybe you're not even selling a dozen homes a year yet you're still putting in, you know, a 40, 50, 60 hour work week. There has to be a better way. So here are five things you can do right now to make the shift from agent, underpaid, overworked agent to free business owner. The first thing I would say is to stop spending time on non DPAs. And a DPA is a dollar productive activity. There's all sorts of activities we could do as real estate agents. And just being honest with yourself about where you're spending your time. The first thing we do at any of our coaching programs at any level is we take take folks through a time study where we actually look at where they're spending their time. It's the only way we could diagnose if you're working in your business, on your business, or you're working on a bunch of administrative tasks in your business. So we have to be honest with ourselves about where we're spending our time. And then once we're just willing to have that conversation and you could do this on your own, just take an inventory all day long about where you're spending your time. It is shocking. Where I have someone that says they want to achieve at a high level, they want to sell hundreds of homes per year, just like you, Lars. Yet I look at where they're spending their time and there's a complete disconnect. They're on social media for 90 minutes in the morning before they roll out of bed. No joke. Real world example, right? They're spending three hours a night watching Netflix. Real world example. And they say they want to be a great husband and a great father. And I'm like BS on all of it. You're not actually spending your time doing, doing the things that will get you the result that you're looking for. So that's number one, is to really take an inventory of non dollar productive activities. The second thing is to not time block, to not put, you know, on paper what you want your week to look like and to get those time blocks into your calendar. It's a really simple process. Very few people do it. Where you create your ideal week, it is just sitting down. I do this once a quarter. I've done this for 10 years. Every quarter I sit down and I literally go day by day. What do I want my Monday to look like in half hour increments, what do I want my Tuesday, my Wednesday, my Thursday, my Friday, my Saturday, my Sunday. Every day, once a quarter, I go and decide what I want it to look like. And then I have a whole quarter to get closer to what that ideal week is on paper. And then every week I make decisions with my time and I put time blocks into my calendar. First it's a plan and then I execute that plan. And very few people actually think about what they want their week to look like and then actually do the steps and do the things to get closer to what that ideal week looks like. So that is the critical second step here is just to not only look at where you're spending your time now, it's going to be hard to make a big leap here. If you're working 80 hours a week in your real estate business, your ideal week next quarter is 40 hours a week in your real estate business. That's a big leap. Let's do 10 hours every quarter shed off of your real estate business. A lot of folks just struggle with even taking a little bit of time to dream about what an ideal week could look like. Or they just don't believe it's possible to have evenings or weekends off. I'll tell you if you think it's not possible, the chances you get there are really hard. So that's number two. The third thing is to honor your calendar. So you've gone through the exercise of designing this perfect week. You've even gone through the effort of putting time blocks into your calendar. Now it's the difficult decision when a time block comes up, are you going to do the thing you committed to do? Right. When you're clear minded and you design this ideal week and you put these time blocks into your calendar and it calls for you to do new business development on Monday morning from 8 to 11 in 50, 10, we have 50 minutes on, 10 minutes off for three hours straight. Are you going to do the thing you committed to do? You know, if you've read the book Eat that Frog by Brian Tracy, if you have a frog to eat, literally when's the best time to eat it? It's a frog, really no good time first part of the day, so you don't have to dread eating that frog all day long. If you have two frogs to eat, you eat the biggest one first. In real estate and in sales and in any business, it's new business development is typically the biggest, ugliest frog there is. And it's the thing that is dismissed over and over and over again. We designed this ideal week, we put the time box in our calendar and it comes to the moment of truth where we actually get to decide if we're gonna do the thing we determined to be the most critical activity. And then we just waffle on our commitment. And we don't love, we don't lean into the commitment, right? So as you look at, you know, your calendar. If you actually have a time block, do you honor it? Do you honor it in the same way that you would a listing appointment? Right. How many listing appointments would you just blow off? You have to see systems work or new business development, or lead follow up. As important as a listing appointment, as important as the most important time block in your calendar, if that is your daughter's dance recital that you would not miss. No matter what, you have to honor the time blocks in your business day as well and not take parts of your day to work on things that aren't going to lead you closer to meaningful goals in areas of your life that matter the most to you. The fourth thing I would say that folks struggle with when they're building a sustainable business is, is this concept of leverage. And there's a few things about leverage that you need to understand and honor if you're going to make a shift from, you know, lowly real estate agent, not getting paid a lot of money. And that's not a disrespectful term. It's just the reality of our industry. To go from there to business owner, it requires leverage. There's systems and there's people. Those are the two biggest forms of leverage. There's marketing systems, there are lead conversion systems, there's sales systems, there are client delivery systems, there are systems for tracking systems for recruiting, systems for onboarding new agents. There are systems in your business that you have to deploy in your business if you're going to have any freedom from it. And then you need to get people to run these systems. That's not a complicated, you know, concept, right? If, if you don't want to do everything in your business and, and you're finding that you're capped with the amount of hours you put into your business and the income you're able to generate, you've gotta take a different approach. And it comes in the form of leverage. So as you look at your business today, where are you lacking leverage? Where are you stuck doing things like repetitive tasks multiple times per day or per week, where you're just doing the same things over and over again, where you could hire even a va? You know, we have virtual assistants in other countries that are paid a fraction of what administrators in the US are paid. There's probably a good 20 hours a week that you could just offload to a VA of stuff that just has to happen that you don't have to be the one doing it, you know. So are you looking for leverage points in your business and Right now, what are one or two steps that you can take in terms of leverage? A system you can build or a person you can hire, you know, to take over parts of your business that will give you more freedom? The last thing point number five is not having a clear roadmap. You know, we talk about drivers and accelerators in real estate B school. It's our business freedom roadmap, our business freedom blueprint. You know, you have to be clear about what the drivers are in your business and the accelerators. That gives you the framework to be able to build your business out in a way where it actually has a life of its own. And so think about it and ask yourself the question, do I have a clear roadmap in place that allows me to grow my business without growing my hours? And I will end up with freedom, right? With financial freedom, with time freedom, freedom from stress. Is there a clear roadmap in place to do those things? If there's not, it's likely that your chances of doing it are going to be hindered. Right? If you want to get to a destination, you've never been there before and this is like pre Google Maps or your map app on your cell phone, how would you get there? You need an actual map. You need to know to turn here at the right time, to turn here at the right time, take this highway. You need to know what lies ahead so you can actually achieve the thing that you want to achieve. So do you have a roadmap? If you don't have a roadmap, you need to reconsider what you're doing. When I think about my business growth journey and specifically when I launched real estate B school and the passion around helping folks go from the grind to business ownership, I think about Cody riddle in Phoenix, Arizona. She was doing 300k GCI and just out of love with her business. She has quadrupled the size of her business in less than a handful of years. She's back in love with real estate. She's making 5x the take home income, working like a fraction of the hours that she used to work. And she's in love with her business. She's not stressed and she followed this process. She was willing to look at her business a little differently and realize that she didn't have to do all the things in her business. So time freedom is possible. You just have to make a mindset shift and commit to doing things a different way. If you want to spend 21 days together and you're willing to be coached and pushed and challenged, held accountable. You know, go to thetimefreedomchallenge.com that's thetimefreedomchallenge.com or click on the link below. We'll spend 20, 21 days together and I will push you to do more in less time and to break the chain that surrounds this time money linkage that is just holding us back in the real estate industry. If you like the video, give me the thumbs up. Make sure you subscribe to the channel and turn notifications on so you're the first to know about new videos and make sure you comment so we can have a back and forth dialogue. And even if you challenge me, if you disagree with what I'm saying, I, I love it. It helps me serve you at a higher level. And just take this last sentiment here is that the things in life that are worth having take effort. You know, it's the hard easy principle. If I do what's hard today, I will have an easier life in the future. If I do what's easy all the time, life is going to be really hard in the future. So I love serving you and bringing you this content and just challenging you to think about about your business and your life differently and what's possible. We'll see you in the next video.