Millionaire Real Estate Habits

Your Database is Your Foundation

Building & Running A Real Estate Team

  • Cost of employee turnover: Just imagine, you hire someone locally for a support position, database management, appointment setting, a little social media. You spend weeks training them on your internal systems, get them dialed in on Top Producer, show them the time consuming but minable possibilities of Zillow. They are in, they’ve got the real estate bug. And just when they are finally starting to take work off your plate rather than piling it on, they leave, newly minted real estate license in hand. This frustrating cycle happens time and time again.
  • Structuring your organization: You have to structure your organization to account for ambition. Give a CRM manager room to grow and earn. Incentivize agents. Pay someone to assess and price houses so you don’t have to. And for the support positions where you need stability not ambition, take advantage of MyOutDesk virtual professionals.
  • Effective Use of Virtual Professionals: Mega agent Lisa Archer says “Anything that can be done virtually should be done virtually.” That is a truth of the modern market. It is significantly cheaper. It is a tax write off rather than a tax liability. But most importantly it is a question of loyalty. A good virtual professional can prospect, set appointments, create marketing materials and engage in your social media outreach. They can easily take on the bulk of your necessary but non-revenue producing work, and their core ambition will be to establish a career as a member of your team. MyOutDesk has virtual professionals with five, six, seven years of experience working with the same agent. They have grown within their teams, but have never and will never make the leap to becoming your

Keep an Eye on the Bottom Line

  • Know where your business stands: Too many agents get caught up in the big numbers, 50+ deals closed, an astronomical sales volume. But, how much are they profiting? How much are they able to pump back into their business? High-level real estate is about entrepreneurship. Millionaire agents don’t want to move from 50 deals to 55. They want to jump to 75, 100, 200, and they run lean so that in the coming year they will have the capital to invest in time leveraging assets … assets that will either bring in money directly or support their own revenue producing activities. Ask them about their profit and loss statement. Ask them for a to-the-penny marketing budget. They’ve got it.
  • What do you do with that information: You’ve done the drill down work. Maybe you brought in a consultant to look at your business with fresh eyes. You know where your excesses are. Now what? DO NOT start trimming fat. Not without a plan. Start with coaching, in-depth best practices. Set strict budget goals for your entire team. Make sure you are working with best vendors on the market. And take advantage of cost saving measures like outsourcing to virtual professionals.

Manage & Convert Your Leads

  • Defining A, B, & C leads: Millionaire agents don’t personally touch anything that isn’t an A+ lead. They have people for that. And they have a funnel system. C leads go to a Virtual Professional for mining and appointment setting. B leads go to agents on staff. And everything funnels up to the millionaire agent, closing deals and growing their business.
  • Steps to Improve Your Conversion Ratio: Millionaire agents understand that every listing is an opportunity to create 2–3 more leads. It is critical to know how to monetize your people and your systems for a higher ROTI (Return On Time Invested). Having consistent action plans are critical to shepherd a client from being a new lead to a becoming a closed deal.

Systems & More Systems to Run Your Business

  • Contact and Relationship Managers Have a dedicated person in your office that owns this responsibility and this process.
  • Solid systems for every department Define your systems and processes. Figure out what you need. Leverage technology … and then leverage your people to use that technology in order to streamline your processes.
  • The latest tech and employees trained to use that tech properly. Top Producer is instrumental for the majority of agents. But, nobody has the time to train and retrain staff on its intricacies. MyOutDesk virtual professionals can quickly get up to speed on Top Producer and other essential programs, reducing the time it takes to start making an impact in your business. Imagine the gains millionaire agents are making from that simple fact.
  • Communication systems. Millionaire agents are on the move. Their staff is on the move. Their staff is abroad. They need ways to communicate as a team and inspire individuals to stay focused on a common goal. Daily Skype or other video and VOIP services make daily check-ins simple and efficient.
  • Exit Strategies. Chess is never a straight-ahead attack, it requires foresight and on the fly adjustments … and real estate is no different. Plan for the best, expect the worst, never be caught unaware.

Purpose-Based Business & Your Community

  • Helping others live better lives by providing more access to nutritious meals, medicine and a comfortable place to sleep at night.
  • Providing school supplies for less fortunate children
  • Connecting the lonely and forgotten individuals with caring people from different backgrounds to rebuild the feeling of community.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Daniel Ramsey

Daniel Ramsey

CEO/Co-Founder of MyOutDesk. In 15 years+, we have served over 7,500 clients with the highest-quality, top-rated virtual assistants. https://www.myoutdesk.com