Are you ready to make 2023 the year you experience massive real estate growth?
If so, there are six levers you need to pull to make it happen.
These are the six areas of focus you must master if you’re ready to scale your business from six to seven figures.
A lot of agents tend to think the only thing they need to focus on is lead generation and marketing.
While those are definitely important components that will lead to increased growth, there’s so much more that goes into scaling a real estate business.
These pillars are going to change the game…but before I share them with you, I need to mention a quick caveat…
These are the pillars that are going to help to build a million-dollar real estate business sustainably.
I have no interest in teaching you how to build a seven-figure business that has you chained to your laptop and phone.
I want to show you that it’s possible to make loads more money while working fewer hours than ever before.
Trust me…I’ve hustled my way to seven figures once and I do not recommend it.
There are a lot of burnt-out, exhausted agents out there who might look successful on paper.
But that’s not what these six pillars are all about.
When you’re able to master all six of these areas, you’ll have built a scalable real estate business that offers you true freedom.
I wanted to list mindset first because your mindset really is the foundation for your entire business.
A lot of people tend to think they have a problem with the strategy around something, when in reality, it’s the mindset piece.
For example, you might say that you don’t want to make real estate videos for your business because you feel you don’t have the technical know-how to set them up with the proper structure, lighting, and editing techniques.
But beneath all of that, there’s a deep fear of being judged by others and a desire to avoid the potential discomfort that putting yourself out there may bring.
It’s tempting to want to focus on the “sexier” parts of growing a real estate business – like signing deals and landing clients.
But if you’re not able to rewire your brain for high performance and master your mindset, it won’t matter what kind of strategy you use to try and grow your business.
You will always find yourself hitting a plateau.
Once you reach a certain level of business, you don’t have business problems.
You have personal problems that show up in your business.
The key to figuring out which problems are hindering your success is self-awareness.
You might want to incorporate a mindset ritual into your day such as journaling or meditation in order to show up as the CEO you need to be for your team.
A lot of people have this preconceived notion that sales is somehow pushy or sleazy…
But when you do it right, it’s really nothing like that.
At the end of the day, being good at sales simply comes down to understanding human psychology.
It’s not about using some fancy sales script that makes you sound like a carbon copy of another agent.
Being truly excellent at sales starts with understanding your ideal client inside-out.
What drives their decision-making?
Another huge piece when it comes to sales psychology is being able to overcome objections.
I actually have a whole post on this where I outline a winning objection-handling formula for real estate agents.
Having proper systems in place is incredibly important for your real estate business.
Your systems are the backbone of your business – they’re what enable you to scale.
By building repeatable systems, you allow others to duplicate your success. You’re no longer dependent on one talented agent or team member…you’re able to plug different people into your systems and get similar results.
Your operational systems should include clear and scalable standard operating procedures (SOPs) for your team to follow. When you get these set up, you’ll finally have the ability to step away from your business while it continues to run smoothly. No more putting out fires on vacation or coming home to frantic messages from your team.
Here’s another pro tip to keep expenses low and profits high.
Instead of outsourcing right away, consider eliminating and automating tasks first, and only outsourcing tasks that must be done by humans.
For example, instead of hiring an administrator for $25 an hour, maybe you can use a computer program for $15 a month. This way, you keep costs low and are able to hire light.
Marketing & Lead Generation
When we think about lead generation, we can divide it into two categories:
- Organic lead generation
- And paid lead generation
Organic social media is a great way to start while you’re honing your message and figuring out *exactly* what your ideal clients want to hear.
Ideally, you want to get to a place where you can bring in 5-10 extra inbound deals each month just by leveraging your social media presence.
And if you’re thinking you’d need a massive audience to do this….you don’t.
It’s all about building trust and authority through your social media channels, like Facebook, Instagram, and LinkedIn.
You don’t need 10,000 followers to do that.
I’ve seen clients hit multiple-6 and even 7-figures with less than 1,000 followers.
Once you know your message is resonating with the right people, you’re able to scale your marketing efforts through paid ads.
Clients & The Signature System
As an agent, it’s easy to fall into the trap of positioning yourself as the only one who can help clients while building a reputation around that.
But this approach can quickly become a problem when it comes to scaling your business.
I know this from personal experience; I built a business where everyone knew my name and clients only wanted to speak to me directly.
This made everything single-threaded through me…every conversation, every email, every phone call.
My mistake was that I didn’t have a repeatable system.
When you position yourself as the only agent who can get your clients results, you’ll find yourself in a situation where you’ve built a great reputation, but you have no repeatable system or intellectual property.
To solve this problem, you need to develop a Signature System – a standardized client process that is named, branded, and marketed.
This will give you a much easier time sharing your leads and clients among the people on your team because your clients have bought into the system – not just you.
Using that system, you can build out all of your standard operating procedures. This means that your team has the ability to execute your system at a very high level – no babysitting necessary.
Every single client is taken care of, maybe even better than you could have taken care of them on your own.
Team & Leadership
I made a big mistake when building my team in the past…and I want you to learn from it.
I realized that I was essentially the assistant to everyone on my team, doing all the tasks that no one else wanted to do, and cleaning up all of their messes. I was operating with the mentality that this was my business and no one would care for it the way I would.
My first mistake was that I hired when I was desperate, waiting until it hurt and then hiring in haste, which is the exact opposite of what you should do.
I was gullible, taking people at their word that they could do the job, but that wasn’t the case. I wound up with people who weren’t in value alignment with me, and it was a poor fit for the company’s vision and growth.
I found myself with an assistant who was pushy with clients, disorganized and didn’t care about the quality of her work. I was afraid to let her go and kept her on for a year.
This is a common mistake many agents make. They hire out of desperation, waiting until they are in so much pain that they end up with the wrong people on their team.
The key to a successful, high-functioning team that you’re excited to lead?
Don’t settle. Hire slowly, fire fast, and don’t just hire based on likability.
Everyone can find amazing, high-quality team members, you just have to know how.
By mastering these six areas of focus, you can set yourself up for massive real estate growth in 2023.
From developing a high-performance mindset and understanding the psychology of sales to building efficient systems and generating leads, these areas of focus will help you build a sustainable, seven-figure business that offers true freedom.
Ready to get your step-by-step plan to put these pillars into action?
Be sure to apply for The Listings Lab and book a call with our team to discuss our mentorship program to sign more clients and explode your income.