Why You Should Turn Your Real Estate Success Into a Business

Are you selling a ton of homes, making decent money, yet your time isn't your own? You know, traditional real estate success oftentimes leads to working evenings and weekends. And really there's not this path to time freedom. And the truth is, if you aren't able to step back from your business, you have a job. It may be a high paying job, yet if you don't set your business up with systems and, and with sustainability in mind, you will be grinding out transactions, achieving traditional success. Yet you're still challenged to maybe achieve in areas of your life that are more important to you than real estate. Now, if you struggle with time, make sure you stick around. I'm going to offer you an invitation to my Time freedom challenge where I will coach you and train you on how to delink the time you spend in your real estate business from the money to you're able to achieve. If you like these videos, give me the thumbs up. Make sure you subscribe to the channel and turn notifications on so you know about new videos when they drop. I wanna go through some tangible things that you can do to set yourself up to be a business owner rather than just grind out transactions. You know, the first thing I did when I got into real estate was I achieved traditional success and I didn't want to have any part of it. I was a new husband in 2006. I was a new dad in 2007. Our second child, Kendall arrived in 2010. Those were the years where I was scaling my real estate business. The challenge though in the early years was that my hours were scaling radically as well and I didn't have any time freedom to sort of enjoy the fruits of my labor. The first book I read when I got into real estate was E. Myth Revisited by Michael Gerber. And if you have ever read the book he talks about, there's three sort of Personas inside of us, three people that are working in the business. And oftentimes we don't give enough time to the manager or the entrepreneur. And we give all the time to what that book calls the technician. You know, we do all of the technical work in the business and it's this mindset of, you know, how do we go from just grinding out transactions, doing the technical work in the business to spending time as a manager. A manager builds systems and gets people to run those systems and then how do we spend time as an entrepreneur? An entrepreneur is really looking to put systems in place and people in place to, to be able to enjoy time and money freedom. So it's this mindset to think of your business as if you were going to replicate it 10,000 times. So that's the E myth question. How would you have to think about your business differently if you were to replicate it 10,000 times? So instantly you may be thinking, well, that's impossible. I couldn't possibly show homes in 10,000 different markets at the same time. I couldn't possibly, you know, go on a listing appointment on a Saturday morning in 10,000 different markets. That's the whole point of this mindset shift, and that's the challenge I have for you, is how would you build leverage through the use of, you know, we talk about sustainable systems and empower people in real estate b school to still do real estate at a very high level, except you're not doing every job of the real estate agent. So when you think about your traditional success where you are right now and translating that into more of a business, it starts with your mind. And that's the number one thing I would say 80% of your success to make this transition from agent to owner starts in the mind. Another thing, and I just touched on it a little bit, is this concept of sustainable systems. What does that even mean? You know, if you're to make this transition from you're doing everything in your business to you want to be more of a business owner and have some freedom, be able to vacation without having to work in the business, you have to think of your business in terms of a system of systems. So let me give you some examples of systems that are running in my business and in our most successful members businesses that you can replicate in your business? Number one is database and referral marketing. You know, do you have systems in place that happen whether you show up or not to generate high quality buyer and seller leads from your database, from folks that know, like and trust you? And do you have systems to get social proof testimonials out into the interwebs where, you know, people are saying good things about you and people that are looking for a real estate agent are able to find those great comments and they're able to reach out to you. It creates this virtuous cycle in your real estate business. You know, another example is a sales system. Are you the only one in your business right now that can sit down with a buyer and convince them to do business with you, sit down with the seller, convince them to not only agree to do business with you, but at the right commission structure and at the right asking price? Right. If you're the only one that can do Those things in your businesses. You don't have a business. Right. You're the genius, you know, in the business, and nobody else can sort of do what you do. That makes you a slave to your business. So it's just a different way to think about it. It brings me to another point and another thing that I really realized early on in my business growth journey was it was actually a sermon that I listened to, and I'm sure there was a different point of this sermon. The title of the sermon was you're not that important. And I remember listening to it, and I forget the scriptural basis for it. Honestly, I know that's horrible. Makes me a bad Christian, probably. But at the time, I was thinking like, this is 100% me and my business. Like, I don't have to do everything in the business. I'm not that important. People want the service I provide and the standards of the service I provide more than they really need or want me in the transaction. And that is something that. That's a mindset shift that very few agents will be able to make. And not being able to make that mindset shift will have you just enslaved your business consistently. A baby step here. If you're super busy, you're working evenings and weekends, and you're showing homes, is. Is the concept of bringing a showing agent into your world. Someone that you can leverage their ability to open doors, to be polite to your clients. You pay them essentially an hourly wage. In our market, it's roughly about $25 an hour, and they roughly have about 20 hours into a transaction. So $500 is given to a showing agent to handle all of the showings, all of the walkthroughs, all of the inspections, and all the. Of all of that. And it's $500 of an average 10 to $12,000 commission check. And if you're spending that 20 hours with that client, getting them into homes to preview, and then once they're under contract, doing the walkthroughs and all of that, and you think you're the only one that can do that. You're spending 20 hours making 25 bucks an hour. And you could replace those 20 hours with $250 an hour activities. $500 an hour activities. It's just knowing what you're worth and knowing what you can hire others to do and build systems to be able to duplicate your efforts. Let's say you think you are the best agent, showing agent, right? Let's just kind of go on that example. How could you design a System that would allow somebody that has a heart of service that could do the job of showing homes, but do it better than you can do it. That's every system you design. I want you to think about it from that sort of mindset. How can you think about that one thing? There's like 12, maybe 15 different jobs a real estate agent has to do. One of them is showing homes. How can you build a system to do that thing better than you do it yourself? For me, it was simple. In the early days, I didn't have a passion for working with clients. I had less of a passion being away from my family and pretty much every evening and most weekends showing homes. You know, the year we did 178 transactions, that was the third year of building the team. I did 66 transactions, 33 sellers and 33 buyers. Yet on every one of those buyers, I used my buyer agents. At the time, they would show homes for me, and I just paid them 20 bucks an hour. And it wasn't a very complicated process. They knew the client was mine and they would just show those homes to them. And they like the stability of making, you know, a predictable income on an hourly basis. So where could you seek leverage in your business in that way and build a business or build systems, rather, where the systems are, are the business, and the systems are doing the heavy lifting in the business. You know, when I think of someone that has really excelled in this concept of going from a successful, you know, always put quotes around successful agent to business owner is Cody Riddle, a client of ours in Phoenix, Arizona. She came to real estate B school. She was, I think, 18 years in the business, and she did about 250 to 300,000 GCI. I think in her market that was 25, 30 transactions. She had fallen completely out of love with real estate. And it was the fact that she was doing every one of the dozen jobs of a real estate agent that was keeping her in the grind and, honestly, miserable. Last year she left me a vox recently, she said, last year she did 1.2 million. She's been in our world for four years now. She did 1.2 million. And she was like on top of the world, like just loving real estate again. Not just because she was making, you know, awesome money, but she's working way less hours. She went from working 70 hours a week to working 40 to 50 hours a week. This year, eight months in, she's already closed a million. So she's on track for, let me do the math on that 1.5 million. This year even more in love with the real estate business. So she went from 300,000 to 1.5 million and is loving life because of these tactics, these tools, these systems that she's learned around leverage in her business. And it's those things that allowed her to go from just a transaction treadmill approach to real estate to really enjoying the life that she's built for herself. If you're at the point in your journey where you can't really make sense of time and money and you're stressed all the time, go to thetimefreedomchallenge.com thetimefreedomchallenge.com I'm going to coach and train you and push you and give you tools and systems that that you'll be able to use to delink time and money in your business. As always, if you like these videos, I need a thumbs up. Subscribe to the channel. Turn notifications on so you're the first to know when a new video drops again. This journey is not an easy one, yet it is deeply rewarding. And the chance that you'll regret where you end up by going this approach of systems and building a business, the the chances are way less. You'll avoid. You'll have regrets in your life. Until next time. We'll talk to you soon.