How to Get Started (or Restart) a Career in Real Estate or Lending

How to Get Started (or Restart) a Career in Real Estate or Lending

Hi I’ve been coaching and guiding real
estate agents for now 32 years and I’m often asked what do you do when you
first get started in the business how much has it changed over the last 30
years and I’d say it’s changed quite a bit
that technology and what we have access to to purchase leads from zillow from
different lead generation sources our access to email marketing our access to
social media has changed the landscape quite a bit but what remains constant is
a business has three very distinct units there’s the before unit the during unit
and the after unit so if you think of the before unit is all of your marketing
and your advertising and your promotions to attract people who don’t know you so
the one you’re working with for sale by owners and expired listings your
door-knocking your cold calling you’re in the before unit of your business and
the during unit of your business that’s everything that happens from the moment
you start a transaction to the time the transaction closes it’s the experience
people go through and then the after unit is everything that occurs with your
sphere of influence which includes your all of your friends your family members
all the people who have done business with you in the past all your business
connections within the community so when I look at this I go okay where do you
put your time and attention so we start with the end in mind we say okay the
goal is to have a tribe a tribe of 150 people and ultimately like many of the
top agents that I coach they they have a hundred and fifty people who each one of
them is referring one or more people a year to them and that’s very possible if
that’s your intention from the very beginning now sometimes that takes three
four five six seven eight nine years to build but the goal is to build a
business that is consistent and predictable and becomes more profitable
over time you don’t want to be starting every year over from Ground Zero you’re
building a business right so a business becomes easier over time and the way
that becomes easier over time is you start to focus on tribe building so
your tribe is divided into two groups you have your top 120 and then your top
30 and what you’ll usually find us is from your 30 people they represent 80%
of your business it’s the 80/20 rule the Pareto principle
so we want to look at what do we do with the 220 people what do we do with the 30
people well with the 120 people we put money into them we we send a monthly
newsletter we send a daily email we can you know engage with them on social
media we invite them to big events we have a referral reminder postcards we
send out a letter from the heart we do quarterly phone calls and several other
things to really pay attention to these 120 people in a meaningful intelligent
articulate way and then the 30 people we put time and money into and when I say
time these 30 people are the people that we have meals with we could have
breakfast with them or lunches with them we do private events so for example one
of the people I’m coaching right now she loves o Brene brown and Bernie just came
out with a new video series that’s on Netflix and she’s just crazy about the
message that Bernie Brown shares and so she invites you know 12 of her top 30 to
come over to her house for a private event to share in that experience and
then they talk about what they’ve learned from that experience now there’s
thousands of different things that you can do with your top-30 but you’re
putting your time into them why put your time into them because they give you the
biggest return on the investment of time and then also in your top 30 it’s the
business connections it’s not unlike a lot of the people we coach today out of
their top 30 15 or 18 of them are small business owners in the community some of
them have never even bought a house from them or sold the house are done alone
from them but they’re big advocates for the real estate attorney because they’re
such big advocates for them and then you have your private Facebook page I think
of Todd Wells who has his inner circle page first top 33 where he does special
things just for his 33 people now when you look at that you go okay that’s
where I’m moving toward that’s what I’m aiming for right now in the start I need
to spend time in the before unit I need to garden I need to use our getting
listings program I need to you know select a target market compel the people
to call me I’ve got a prospect I’ve got to use strategies for sale by owners I
got to use strategies for expired listings I got to do whatever I need to
do in order to create cash flow in my business so I can start to build a tribe
but ultimately that’s what you’re after so what I love is when I get to meet a
new agent or somebody who’s restarting you know I really want to see what their
vision is are they just getting into the business to do a couple of transactions
are they getting into the business to actually build a business and that’s
what a business looks like when when you really go with it intentionally so if
you want to find out more check us out thanks

3 thoughts on “How to Get Started (or Restart) a Career in Real Estate or Lending

  1. Unbeatable Mind Academy member and day-1 new real estate agent, here. I learned about you from the UM podcast as well as through Eric Etzel, whom I met at a UMA live experience last year. I joined a brokerage, today, and applied for my Indiana license. It'd be great to see more videos from you about getting started from week 1 onward. Thanks for the video and free downloads!

  2. Thanks Joe!

  3. Great to hear you again!
    I loved attending your Main Events (years ago) and your coaching.

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