Did you know that many big real estate teams are actually losing money? Here's how to build a team the right way, while working one day per week
I'm actually quite glad that I didn't jump the gun on building a real estate team! A real estate team must be built a very specific way from the start if it's going to survive and thrive long term. If you haven't yet started building a team, then you'll probably be pretty stoked after this episode. I learned that I had quite a few misconceptions about how to do it the right way, and had I built a team the way I thought you should, we probably would not have been profitable.
Work one day per week?
This week's guest really enlightened me on the right way to build a *profitable* real estate team, and make it possible to work just one day per week! As you'll hear, for example, paying your agents higher splits is almost exactly the opposite of what you should do, provided that you structure everything else a specific way.
Any real estate agent who plans to build a traditional real estate team at any point in the future really needs to hear this episode. So many big teams are in the red right now. So many of the teams we see and hear about in our markets aren't even profitable, mainly because they were setup the wrong way from the start.
This week we sat down with Lars Hedenborg, the founder of Real Estate B School, which helps people build a solid real estate business that has a firm foundation and can withstand shifting market conditions. I learned quite a bit this week, and I'm sure you will as well.
Connect with our Guest
Real Estate B-School (REBS) Founder Lars Hedenborg left his corporate career in March 2007, just before the real estate market was set to shift. He hustled and closed 71 sides before the end of his first full year … but he was working 70-80 hour weeks and his family life was suffering. Something had to give …
Lars admits that it was a painful and costly process to figure out how to scale a real estate business, but through painstaking trial and error, applying and testing … he figured out what works and what doesn’t.
As a result, Real Estate B-School was founded. Lars shares real world tools and the step-by-step process he followed to build a high performing real estate team that consistently sells over $100M in real estate each year, while working just one day a week!
Book of the Week
Can't Hurt Me: Master Your Mind and Defy the Odds
by David Goggins
“For David Goggins, childhood was a nightmare – poverty, prejudice, and physical abuse colored his days and haunted his nights. But through self-discipline, mental toughness, and hard work, Goggins transformed himself from a depressed, overweight young man with no future into a U.S. Armed Forces icon and one of the world's top endurance athletes. The only man in history to complete elite training as a Navy SEAL, Army Ranger, and Air Force Tactical Air Controller, he went on to set records in numerous endurance events, inspiring Outside magazine to name him The Fittest (Real) Man in America.
Get “Can't Hurt Me” on Audible for FREE
*for new Audible customers only
Massive Agent Society 2.0
We recently announced the big changes to our Massive Agent Society real estate lead gen training program that we've been teasing lately. We now offer a $99/month real estate marketing coaching option, with no cap on how many agents or loan officers allowed in each market.
It's better and more value packed than ever! Visit the Massive Agent Society website for all the NEW details on pricing and what's included.
Don't reinvent the wheel! Use our Facebook Ads that have been proven to bring in leads, over and over again. Massive Agent Society members get access to our exclusive copy & paste Facebook Ads database, where real estate agents & loan officers can simply choose the ad and type of lead they want to run, copy, paste, and submit! It takes all the guess work out of Facebook ads for real estate leads, and gives you everything you need to run an ad that has been proven to work.
The Industry Syndicate
The Industry Syndicate is officially LIVE! Industry Syndicate is the real estate industry's first media network. Or as we like to call it “Real Estate's Media Network“. The first-of-its-kind in the entire real estate industry, the Industry Syndicate launches with 25+ shows from over 20 different hosts. Shows for real estate agents, mortgage loan officers, marketing, branding, appraisal, and more.
The Industry Syndicate was co-founded by Jason Frazier, Phil Treadwell, Josh Pitts, and myself.
The next thing you'll see from the Industry Syndicate is our very own mobile app, with each show having their own “real estate” to connect with their community and audience. It will be great for building their community, but also for discovering other great shows that you may enjoy also, and connect with those communities. It's going to be awesome!
Soon, the Industry Syndicate will launch and produce our own original programming and content! Stay tuned
Visit the Industry Syndicate website for more info
And since so many have asked…
Have a question for me that you want answered on the podcast? Submit a question through the Massive Agent chatbot.
Connect with Dustin Brohm:
Massive Agent Society – Don't reinvent the wheel! Our copy & paste, step by step Facebook Ad and lead gen training, coaching, and support program for real estate agents and loan officers. Only ONE agent/lender per market may join!
Residual Income for Real Estate Agents – Why I chose eXp Realty
My real estate website – Search Salt Lake
Facebook Page – Massive Agent
Snappack Real Estate Marketing & Social Media Facebook Group
Instagram – personal
Instagram – Massive Agent
Follow Dustin on LinkedIn