How To Become A MILLIONAIRE Real Estate Agent!!

How To Become A MILLIONAIRE Real Estate Agent!!

What’s up guys Jason Wardrop here in today’s video I’m gonna show you how to become a millionaire real estate agent right now with this guys We’re gonna go and dive into some real estate math Mathematics k so you guys already bored if you already sleep in I’ll link your cat video up here or something like that so you Guys can go click off you’re probably not serious about this anyway But if you are serious about becoming a real an air millionaire of real saging this video is gonna be key to your success Right now it all comes down to really knowing we’re gonna break this down here and sorry about my bad handwriting here But account comes down to the CPL or cost per lead case you need to know your cost per lead and then also you need to know the Conversion rate, okay, wow. This is super bad, but you guys I’m gonna talk about it. So you guys are gonna Roughly get the idea. Okay, so that means what is your cost per lead? Are you spending five dollars per lead 10 dollars per lead? Are you on trulia and zillow spending like 30 bucks or 50 bucks per lead like what is that number and then? based off that number how many How many of those leads are you actually converting into a closed deal, right? So the reason why I want to stress this video And this is like obviously if you’re still watching this you’re probably more serious about your real estate business But it gets it gets pretty annoying when people are like they go through they generate ten leads on Facebook And they go through and then within two weeks like no deals went through the ten leads are all bad And then I can’t I can’t closing deals Facebook sucks. You suck like it and nothing works. It’s like okay Seriously one stop complaining to you generate ten leads And three you gave it two weeks right so like if you’re serious about your business actually Set spend the time to be persistent and actually spend the time to go figure it out and make things work And so I’m gonna explain how we can make this all work out for it for anyone all right And also a big thing with this and I’m gonna nerd out here really quick for a second But all comes down to a statistical term called the law of large numbers All right, and just a quick head like newsflash here for people that are just like well 10 That’s a big nut ten is not a big number okay in Statistics. They say nothing’s even significant unless you have at least 30 data points and what I like to do in my lead generation I like to have at least 100 Data points all right so 100 data points or in essence a hundred leads, and I know guys This is probably like super nerdy and all that stuff, and it is I know I know But this is key to your success so if we have a hundred data points Okay, or we come we’re here and we have 100 leads, okay? I just want to I want to put it in comparison with my business really quick And then I’ll relate it to you as a real estate agent, or you as a mortgage broker, or you as whatever business You’re in okay, so we go through in my business I you know if I generate a hundred leads right here My goal is to get at like the highest number is ten bucks per lead, okay? So like I don’t really like to spend too much more than 10 bucks for leave I can like I can still spend 12 to 15 bucks but typically my leads are gonna be around eight to ten dollars per lead so if we get ten leads right here at ten bucks a Lead I have spent $1000 on my leads, right So I went through I spent a thousand dollars to get these leads Kay well now it all comes down to knowing What this conversion rate is right here because if you don’t know what the conversion rate is then we’re gonna like okay? We just spent thousand bucks waste our money on what’s going on, right? well, so what we need to do here my conversion rate typically is around three percent, okay, and I am selling a thousand dollar product okay, so now if I spend a thousand dollars, and I my conversion rate is 3% or Three out of the hundred so three percent of a hundred is three right I just made three thousand dollars Okay, now. You’re like okay that great Jason. That’s simple That’s that’s easy to do but it’s like obviously I had to make a thousand or I had to spend a thousand to make the three thousand dollar, so That gives me a two Thousand dollar profit right there. Okay, right like pretty simple enough right so if that is the numbers for me You as the real estate agent or the mortgage broker? I want to show you guys how? How sweetie how dope it is to be a real sage, and how sweet it is to be in your position right here, okay? And guys I’ve gone through and as far as like a lot of large numbers and all the stuff goes If I’ve gone through and I’ve tested stuff where I have less than a hundred leads Then I don’t really know my true conversion rate like if I only get fifty leads on a training on a sales train of mine Like it’s hard to really know okay Is it really gonna convert at three percent am I really gonna get three sales because cut this in half If I’m getting a three percent hundred divided by two is 50 so divide my three by two, that’s one point five it’s like I Might have one deal go through. I might have two deals go through like it’s just not enough data to really make that happen Okay, so now with you if you have in real estate right here, okay? guys the same thing goes for mortgage and Honestly, I feel like these numbers are pretty consistent across multiple industries. No matter what industry I’ve gone through and and Dunn’s different like testing, okay, so we’ll let’s say here for real estate Let’s say you go through you generate a hundred leads all right now guys I don’t know if you’ve seen some of our numbers But we have gotten leads in real estate for much less than even $1.00 per lead, okay, so let’s just make this Super dramatic let’s say we’re using Trulia and Zillow like the worst places to go buy leads and let’s say you are spending Will just say twenty five bucks per lead right here, okay? so if you’re spending 25 bucks for lead for 20 for a hundred leads right here and guys Remember with with our Facebook ads with the law stuff We’re doing you’re gonna be able to spend a lot less than 25 bucks really like 10 bucks per lead is like I’m the high-end Okay, you’re gonna be spending $2,500 all right. I’m just doing this slow, so you guys can actually read this little bit right so now we spent $2,500 and And now typically the conversion rates in real estate for a hundred leads is Actually pretty close to the same as my like two to three percent. Okay. I have seen pretty consistently two to three percent of leads actually going through and closed based off this one relates now a Quick note quick disclaimer, that’s not then you have 97 bad leads K and even up here it’s not that I have 97 bad leads these all go into my big list of contacts, okay, and Maybe these people showed interest, but they’re not ready to buy right away Or I haven’t established enough credibility I haven’t added enough value towards them or they’re just like you know that they’re just not yet at that point to go through and make the purchase k so the lifetime value if we come over here of these leads for me I can actually Go and through, and I’m if I’m selling this thousand dollar ticket item I can typically get another four to five sales from those same 100 leads over here, okay? And I’m just I’m breaking it down my business as well as your guys business because I just want to show you like this is Not like some crazy thing That’s just as like rare and only for real estate like this is literally consistent for any business that you’re in ok So I go through and I get maybe you another four to five people buying $1,000 ticket Item and then all have like lower ticket items where I could get probably another you know 10 to 20 people buying so Like the revenue from this hunt thousand dollars of ad spend right here. I can actually go through and probably make close to 7500 to $8,000 which is like an 8x ROI right there K now with you you’re gonna get the two to three percent in real estate or more your journey of these things and That’s after like the first probably 45 to 60 days right because there’s gonna be probably of those 100 leads She’s probably gonna be two to three that are ready to take action right now There’s probably gonna be another two to three that are ready to take action in three to six months from now And there’s probably another couple that maybe like six to 12 months, right But the nice thing is they’re already in your list you can go through and nurture them you can establish the credibility And go through that do that through email marking them how to follow you on facebook a number of different ways now Here’s the powerful thing guys Okay, and the reason why I can take 45 to 60 days to actually have these two three percent go through because think about it A home is a super large purchase price, right? There’s a lot of emotions involved is the biggest purchase price that most people ever making their life And if they’ve got like their spouse they’re like you know there’s just a ton of stuff going on right? So if you got two to three percent and let’s say you’re not selling $1,000 you’re not making a thousand bucks off each one of these sales right like these are probably a couple hundred thousand dollar homes and So let’s just say on the low end You’re making I’d say five to fifteen grand is like is not now not out of the norm, right So let’s just say you’re making the low end of that okay your your 3% Commission or 6% whatever the Commission is you’re getting Let’s just say you’re making five grand from that okay, and you have two deals go through okay? So if you had two deals go through within the first 60 days you are making $10,000 can you get three deals go through you’re making? $15,000 okay now look at this guy’s you spent? $2,500 right here Okay, and I know a lot of you are probably sitting there like Jason. I don’t have 2500 bucks guys. This is at the $25 per Li. This is like worst case scenario. Okay most of you guys can spend a thousand bucks. Okay. Let’s say say We’ve got even a thousand bucks right here Okay a thousand and you’re making ten thousand okay now if I were to tell you hey You know whatever your name is right like you can spend a thousand dollars And you can make three thousand dollars on every every time you spend a thousand bucks You can make three thousand dollars in sale which you’re gonna make two thousand dollars in profit or you can spend a thousand dollars and go through and Make ten grand every single time, which would be 9 grand profit right and guys that is on the low end okay, if you’re doing the your if you’re doing 3 deals That’s 15 grand. That’s 14 thousand dollars in profit. Okay. Now. You look at these numbers What business do you do you want to be in right? Do you want to be in my business up here? Or do you want to be in your business down here right like does it make it look and see how? You know the grass is not always greener on the other side like you guys have amazing numbers and literally I’ve gone through and I’ve Interviewed a lot of different industries that have like going through and deciding Okay You know who should we go through and like really help go in and get these results And guys real estate mortgage like you have the best Numbers cave four to five hundred companies would kill to have these types of numbers with going through putting money into advertising And give these numbers back out you look at insurance they go through and they go and spend a thousand dollars But how much money they actually make they’re making like fifty two hundred dollars a month like that. It’s like a monthly recurring thing It’s not like a one-time hit, but it’s like $1,500 a month like you go to spend Let’s say five hundred bucks on advertising and let’s say you got three deals going through at a hundred bucks a month Okay, yes at some point you will back out and you will make your money back, and you’ll out you’ll be profitable But at the same time guys like those numbers are not too. Sexy right like this is so cool Okay, the thing is and this if you guys are watching this and this is like kind of an eye open to you I want this to be your wake-up. Call right here guys. Don’t play it safe, okay? Go through push things push things push things say like if you’re going and you’re generating twenty five leads And you’re going to you’re saying yourself well Facebook Ads don’t work or like this doesn’t work or something like that Okay, get over yourself get over that and realize numbers mathematics statistics all this stuff And this stuff’s works every single time guys like You could be spending the twenty five dollars if you guys don’t if you’re like Jason I don’t have the twenty five hundred bucks to go spend right well what you can do is you can go and Join a team that does have the twenty five hundred bucks to go spend alright or go through like des I have so many strategies on lead generation K through facebook messenger through Facebook Ads through leave forms through landing page like there’s so many ways to go through and generate leads and all of them are At this twenty five bucks. They’re all like under ten bucks per lead, okay So there’s literally not any excuses to go through and make this happen and you guys can see the numbers right here you go spend twenty five hundred bucks And you’re making like these are like the worst like you spend 25 bucks believe you spent twenty five hundred Aspen You only had two deals go through in sixty days you may ten man. That is still 7500 in profit Okay, you’re like well Jason. That’s only like 7,500 bucks. I made in two months right well guys first of all That’s a start and that you could go through and scale from there And then once you have the 7500 right now. You got more money go put back into advertising right? The thing is most people don’t invest back into their business, and they think I made seventy five hundred I’m gonna go blow it on some cool new TV a new car whatever you want, or if you go Put it back in your business your patient you hold for a little bit And then you can put more and more money into advertising You guys and literally in six months could blow this thing up where you’re generating a thousand leads every single month You’re building a team you’re going through your filter filtering those leads out to everyone on your team You’re closing two to three percent every 45 to 60 days You are blowing your business up, and it’s going crazy right so anyway guys I know this was probably a little bit different video than normal this is a little bit more advanced a little more like the intermediate advanced level not like the Kind of like just kid star just get me into things, but this is one thing I really wanted to hit with you all because I don’t know not that I get a lot But I do get from time to time people are like oh this doesn’t work I generated 12 leads in the last three days and and none of them went through and I’m like are you serious? Like you think you’re gonna. Go through in the three days you well first of all you generate 12 leads in 3 days How many leads were you generating before right like 12 leads in three days? That’s first of all awesome guess four leads a day, and then if you kept on doing four leads a day for 30 days That’s a hundred and twenty leads K. And if we look at this you have 120 leads We’ll just go with this example here, and you get two. Let’s just say two percent conversion right here, okay, so what is that 2? 12 12 would be 10% 12 divided by 5. You’re looking at like 2 deals right there going through so you’re still I like the two to three deals your little over 2 deals I guess but still you’re going through and closing two deals right it’s like if you’re making 5 grand per deal It’s like minimum, 10 grand in your pocket And you just keep rolling with that guy’s the more you stay consistent more you keep it up the more you Anyway guys I could go on for hours I could go on for days about this whole topic because it’s just like it’s literally the pure boring numbers, but it’s what works Okay, so this is how you go through? Become a millionaire real estate agent you go and take the money invest until it deletes, okay? And then you go through take this money that you earn in profit and invest the fraction back into your leads And you keep getting more leads, you keep cultivating the existing leads leads that aren’t ready to buy right away You keep cultivating them people that are not like familiar with you or your brand you keep cultivating them And then you go through and it’s six months from now you’re closing like ten deals in one month And I know like that sounds like exaggerated. It’s not guys It’s not it’s not it’s not stay consistent with it keep going through keep plugging through and you’ll make it happen all right? Anyway guys if you guys like this video give it a thumbs up comment down below Let me know what you think and anything else that you want to hear or learn about And make sure you guys subscribe to your brand-new the channel and with that said I will see you all tomorrow. Thanks guys

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