The Foundational Model of Real Estate

 

So today we’re going to pretend you have no limitations. We’re going to pretend you can accomplish anything you choose. Today you’re going to think like a Millionaire Real Estate Agent. And how do they think?

Think a Million

Earn a Million

Net a Million

Receive a Million

 

These top agents have moved past their self-limiting beliefs. They realized that because other agents did it, they can also. They realized the value and importance of increasing their knowledge and the value of modeling. What is modeling?

 

Modeling is finding someone who is achieving at a certain level and realizing that if you were to duplicate their efforts and actions exactly, you would be able to duplicate their results. So let’s break the elephant into bite-sized pieces. What would you have to do?

 

The average sale price in our market place is about $280,000. If you were working for a 100% company and receiving 3% on each side of a listing sold or a sale, you would earn $8,400 for each closed side.

 

In order to earn $1,000,000, you would have to close 120 sides. Now I can tell you from 30 years experience that about 1 of evey 3 clients you work with will give you 2 sides of business. In other words, you list their house and they also buy a house from you. Or, you obtain them as a buyer and they list their house with you. Two commissions, one client!

 

This means you are going to have find and work with 90 clients per year to gross a million dollars. That’s less than 2 per week. I know that all of you are capable of working with 2 new clients per week. So the issue becomes finding them. Lead generation.  

 

Now I’m going to reduce this to the redicules. When I ask agents in various training sessions, how often people move on average, we always can agree on every 7 years as a consevative, realistic number. This would then mean that 1 in every 7 people, with whom you come in contact, will be moving in the next 12 months. Fair enough?

 

That means you have to meet and converse with 630 new people per year. That’s less than 2 people per day. And if only half of the people you meet were willing to do business with you, you would still only have to meet 4 new people a day.

 

So every morning when you wake up, get dressed, drive down to the supermarket, stand outside the door, introduce yourself to 4 new people and ask for their business. It won’t take more than 20 minutes.

 

Think about it and have a great week!

 

Best wishes for a profitable and productive day,

Bill Wagner

609-432-8005