The Millionaire Real Estate Agent – Book Review & Cliffnotes Part 3
How to structure your business and the four models you should pay attention too when building your real estate empire.
In case you missed it, here is The Millionaire Real Estate Agent Cliffnotes Part 1 & Part 2.
There are some things that you just can’t ignore as a Realtor…and this book is one of them. Here are the Cliffnotes to Part 3 of our series on “The Millionaire Real Estate Agent”. In this section, we focus on the 4 Models you always need in your business.
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Focus on the numbers you must hit to make the income you want.
The best number to focus on is appointments.
Here’s a great formula for calculating your net income:
It’s a numbers game. The more you bump up your numbers. The more success you will see.
There are two ideas at play here.
1) Positioning/Marketing: People can only remember up to 7 Realtors at a time. Are you one of the first 2 they think of?
2) Lead generation: Be systematic and focus on building business in the now.
Marketing builds future business while lead generation feeds your current efforts.
Next, you must follow the 8X8 Marketing System For New Leads and 33 Touch for Contacts:
This is a program that introduces you as a Realtor to a new contact. It generally follows the format of one-touch a week for 8 weeks. A typical system looks like: digital message, mail, mail, phone call, free report, home upkeep tip, giveaway, and finally a phone call.
Each of these activities should be structured.
After clients complete the 8X8 touch system, they go into your 33 Touch followup sequence.
This generally means you’re going to touch them 33 times throughout the year.
There are a lot of ways you can dice-up or mix-up these touches. Just make sure you do them!
Lead with revenue! Focus on how much you bring in and not how to save money.
Then play red light, green light with costs. If costs, no matter how big, bring in more revenue than they are an expense, keep doing it.
Stick to your budget!
Hire administrative help first. They will systematize and document your business for you!
Always hire talent. It’s hard to find and will pay back a lot more later than hiring unqualified people.
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