Episode 59 - Scaling your business to 7 figures!

Framework for a Seven-Figure Real Estate Business

• Goal: Create a life-changing real estate business with reliable cash flow in any market

Steps to Build a Successful Real Estate Business

1. Business Plan

• Write a detailed plan including transaction goals and necessary systems.
• Analyze zip codes, market trends, and referral networks.
• Use AI and automation for tasks like blog writing, CRM management, and marketing.

2. Targeted Database

• Build a database of at least 5,000 people across diverse client categories (e.g., seniors, divorcing homeowners).
• Implement a robust follow-up system (emails, calls, direct mail).

3. Unique Selling Proposition (USP)

• Articulate in 30 seconds why clients should hire you over competitors.
• Build all marketing strategies around your USP.

4. Automation & Systems

• Automate lead follow-up and integrate with websites and social media.
• Use virtual assistants for tasks like circle prospecting and database management.

5. Personal Branding

• Define and market your USP across social media, email, and advertising.
• Create and automate consistent social media content to stay visible.

6. Lead Conversion

• Prioritize converting existing leads over generating new ones.
• Develop tailored strategies for specific client types (e.g., FSBOs, expired listings).

7. Lead Generation

• Dedicate 10+ hours per week to circle prospecting, open houses, and advertising.
• Use low-cost methods like Facebook ads and Google Pay Per Click.

8. Focus on Listings

• Listings provide leverage and are more efficient (10 hours vs. 40 hours for buyers).
• Develop a unique listing process tailored to client goals.

9. Operations & Delegation

• Delegate $10/hour tasks (e.g., paperwork, social media posting) to virtual assistants.
• Focus on high-value tasks like taking listings and training buyer’s agents.

10. Building Referral Networks

• Develop relationships with local and national referral partners (e.g., military bases, attorneys).
• Regularly connect with referral partners and clients to maintain relationships.

11. Multiple Revenue Streams

• Earn referral fees from agents, affiliate income from services, and rebates or equity opportunities.
• Build scalable systems for consistent income.
• Focus Areas: Listings, mindset, and systematization.
• Success Requirements:
  • Detailed planning, consistent action, and willingness to invest time and money.
  • Avoid "10/hour tasks" and focus on high-value activities.
• Mindset Shift: You control your success; the economy does not.

Call to Action

• Assessment Tool: Use a free QR code-based assessment to identify business gaps.
• Next Class: The Tactical Guide for Building a Recession-Proof Real Estate Business (next Thursday).
• Contact Options: Schedule a free 30-minute call with Bob Mangold for guidance.

Join our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisors

Visit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.org

Download a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com

Transcript

The Real Estate Market & Agent Challenges

• Market Trends (2020–2024):
  • High transaction levels in 2021 vs. significant drop in 2024.
  • Issues with interest rates and inventory.
• Agent Statistics:
  • 87% of agents fail in real estate; most have less than 3 years of experience.
  • New agents are achieving unexpected success—how and why?
• Key Insight: Agents’ mindset determines their success, not the economy.

Framework for a Seven-Figure Real Estate Business

• Goal: Create a life-changing real estate business with reliable cash flow in any market.
• Blueprint Features:
  • Focus on listings over buyers.
  • Develop consistent lead sources, a large database, and efficient systems.
  • Prioritize mindset, perseverance, and CEO-level strategy.

Steps to Build a Successful Real Estate Business

1. Business Plan

• Write a detailed plan including transaction goals and necessary systems.
• Analyze zip codes, market trends, and referral networks.
• Use AI and automation for tasks like blog writing, CRM management, and marketing.

2. Targeted Database

• Build a database of at least 5,000 people across diverse client categories (e.g., seniors, divorcing homeowners).
• Implement a robust follow-up system (emails, calls, direct mail).

3. Unique Selling Proposition (USP)

• Articulate in 30 seconds why clients should hire you over competitors.
• Build all marketing strategies around your USP.

4. Automation & Systems

• Automate lead follow-up and integrate with websites and social media.
• Use virtual assistants for tasks like circle prospecting and database management.

5. Personal Branding

• Define and market your USP across social media, email, and advertising.
• Create and automate consistent social media content to stay visible.

6. Lead Conversion

• Prioritize converting existing leads over generating new ones.
• Develop tailored strategies for specific client types (e.g., FSBOs, expired listings).

7. Lead Generation

• Dedicate 10+ hours per week to circle prospecting, open houses, and advertising.
• Use low-cost methods like Facebook ads and Google Pay Per Click.

8. Focus on Listings

• Listings provide leverage and are more efficient (10 hours vs. 40 hours for buyers).
• Develop a unique listing process tailored to client goals.

9. Operations & Delegation

• Delegate $10/hour tasks (e.g., paperwork, social media posting) to virtual assistants.
• Focus on high-value tasks like taking listings and training buyer’s agents.

10. Building Referral Networks

• Develop relationships with local and national referral partners (e.g., military bases, attorneys).
• Regularly connect with referral partners and clients to maintain relationships.

11. Multiple Revenue Streams

• Earn referral fees from agents, affiliate income from services, and rebates or equity opportunities.
• Build scalable systems for consistent income.

Key Takeaways

• Focus Areas: Listings, mindset, and systematization.
• Success Requirements:
  • Detailed planning, consistent action, and willingness to invest time and money.
  • Avoid "10/hour tasks" and focus on high-value activities.
• Mindset Shift: You control your success; the economy does not.

Call to Action

• Assessment Tool: Use a free QR code-based assessment to identify business gaps.
• Next Class: The Tactical Guide for Building a Recession-Proof Real Estate Business (next Thursday).
• Contact Options: Schedule a free 30-minute call with Bob Mangold for guidance.

Conclusion

• Success is possible but requires work and a plan.
• Implement the provided framework step-by-step to build a scalable, life-changing real estate business.