I wish being good at real estate automatically translated into being good at business. If the two went hand-in-hand, there’d be more success in this industry and fewer sad stories of agents failing or moving on to other careers. Unfortunately, being good at real estate doesn’t make one good at the business of real estate.
Many high-performing agents have found some kind of operation that works for them but also find that they can’t scale, haven’t systematized, and have to be involved in the day-to-day in order to keep it running. They’re going fast, but they’re terrified of shifting gears or taking their foot off the gas—they just don’t know how to reliably replicate the success they’re having.
I have one question for agents like this: who’s your coach? It’s really that simple—if you can’t figure out the business side of real estate on your own, you need a coach who’s already been there. The right coach can help you go further than you’ve gone on your own and help you find the areas of your business that need shoring up.
High performance doesn’t mean good at business
Don’t confuse the ability to make money with the ability to run your business. It’s great if you’ve reached a high GCI, but the high likelihood is that you’re leaving money on the table and wasting time doing things you could hire out or make more efficient with systems. Even working as an individual agent, hiring the right part-time assistant to handle things that don’t actually require your presence can save you time and make you more money than you spend on them.
If your real estate business requires your presence to keep producing at the level it’s currently producing, you don’t have a business—you have a job. I’ve found that most job-having agents don’t know what their next step is to systematize and grow their business. You need to invest in a coach who can help diagnose your biggest challenges and tailor solutions to transform your job into a functional real estate business.
The best athletes need better coaches
Maybe you’re feeling a little defensive about my recommendations. You’re good at your job! You’ve got this real estate thing figured out! Why would you spend effort and money on changing a good thing? If you’re thinking like this, you’re thinking backward.
The best athletes need better coaches. Research shows that the most significant difference in Olympic athletes—that is, athletes performing at the highest level in the world—comes down to their coaching. The better you get at something, the more valuable a good coach is. They can help you isolate what’s going well and focus on it and help you see your blind spots. A good coach is indispensable to your real estate business.
I work with dozens of real estate coaches every week. The results they help their clients achieve are nothing short of astounding—the power of accountability, experience, and objectivity cannot be overstated. I recently commissioned a national study on real estate teams that has some compelling findings on training and coaching that I think you’ll find useful as you focus on building your real estate business the right way. You can get your free copy of the study here—check it out to help you know what you should be looking for in a real estate coach.
Get free access to some of the very same tools and resources he has used to create success in his clients’ businesses.