Here are the main things you should focus on when starting your career.
What can you expect in your first two years in real estate? Here are my four main recommendations for what you should focus on:
1. Focus on your sphere of influence. This is the principal way you should look to grow your business, and you should spend two to three hours every morning on it. Your sphere of influence, SOI, or circle of influence is the list of people who you know, like, and trust and who know, like, and trust you. Every person knows about 250 others, so in your first year, you should document those people in one place, contact them, and give twice as much value as you’re asking for. You’re asking for their help to grow your business, and you can provide value by helping with their homeownership experience, even if it’s not real estate-related.
2. Expand your knowledge. Focus another hour or so a day on reading books and attending seminars and trainings. Here at Keller Williams, we have at least two training per week, and even after 19 years in the business, I still attend those meetings and learn as much as I can. The faster you expand your knowledge, the faster you’ll level up in efficiency and serving your clients—and your business will grow.
3. Streamline your finances. It didn’t take me long to realize I needed to save for tax purposes; as 1099 subcontractors, that’s something we sometimes forget. It’s crucial that you run a conservative budget. Real estate looks like a roller coaster for the first couple of years—it’s anything but consistent. If there’s no consistency in your business, there’s no consistency in your finances. Only spend within your means, and ensure that with every commission check that comes in, you set a portion aside for tax payments.
4. Ask for help. To this day, I still feel I can do a better job as a student. Always be looking for people who have done it before you at a high level. Then regularly ask them to lunch and ask for help, advice, what to do, and how to do it. Speaking of which…
If you have any questions, I am an open book. I can share anything you need, including our database lever. A database lever is a 22-page booklet that presents a roadmap for how to build an SOI-based database business. It can help you go from zero to 40 transactions in your first year.
If you have questions or want a copy of our database lever, call or email me at 717.216.0860 or firstname.lastname@example.org. I’d be glad to help you on your way to growing your business.