Four Ways to Make More Money in Less Time

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Transcript:

Let me ask you a question: Do you really believe that it is possible to become a true business owner and get off the transaction treadmill once and for all?

Obviously I have done this before so my opinion is a little biased. However, I have five myths that I'm going to go through. These are taken from people who have gone through real estate B school and from the experiences that they had.

The first myth is that you have to put in more hours to make more money. A lot of real estate agents think that their income is a direct function of the number of hours that they work. There are a lot of different solutions to this myth. In my business, 99.9% of the daily activities run without me being there or doing anything. We're actively growing the business and I work on Tuesdays when I'm in town.

One thing that I've always been really good at is with making choices with my time. I consistently focus on dollar-producing activities. This means if you think that you're worth $50 or $100 an hour, you should think carefully about how you're spending your time.

Another good solution for this problem is to train your buyer agents well so that you can leverage them in your business. Separating yourself from the buyer side is important because those transactions suck up a lot of time, and you'll be working strange hours.

It's also important to remember that you need to enjoy the ride and appreciate the journey as well as the struggle. Building a business isn't easy, but the rewards are huge.

Now we're going to hear from Sean Hellmann, an agent from Albuquerque, NM. He started part time in 2004 but went full time in 2007, and that's when he began to shift his focus. He was always a solid producer but he was sacrificing a lot of his time. In the last 12 months he has managed to cut his hours by 40%. Last year he sold 40 homes and this year he expects to sell 80. He systematically implemented the 4 core building blocks, and he's seen a lot of success from it.

Sean says that lacking focus on a weekly basis or a monthly basis is something that he struggled with. He admits that he wasn't all that focused, and that now he always thinks of what dollar-producing activities he could be partaking in. Prospecting has been huge to his business, and he recommends everyone implements a system for prospecting every single day. Sean also says that placing a positive focus on his goals is something that helped him complete them. Working hard to be able to eat dinner with his family at the end of the day is one of those goals that keeps him focused and productive.

Sean has also implemented my 90 day onboarding system for buyer's agents. That was a big hang-up for Sean, but this has been immensely helpful for him within his business. He's also taken my advice that you always need to be recruiting for new talent. Sean wants to add more agents to his team so that he can work his way out of production and have peace of mind that his team can take care of the day to day business.