No real estate business is worth the loss of your family life. Justin realized that and took the steps to change.
Sometimes, we get so wrapped up in our work that we lose sight of what we really want out of life.
Your real estate business starts coming first. You’re the team leader and you need to make sure everything stays on track.
Slowly but surely, you start losing time. The weekends disappear. You’re spending your nights in the office.
And you miss out on so much with your family.
You lose the balance, just as Justin did before he came to Real Estate B-School.
Justin Loses Touch as His Real Estate Business Grows
Justin got into real estate in 2005 and enjoyed a great couple of years.
Then the market shifted. But Justin managed to weather the storm. He spent several years working as an independent agent. Through cold calling alone, he’d managed to sell almost 50 homes in a year.
From that work as an independent agent, he began to grow his own real estate team. He put agents in place and sales kept going up.
And that’s when he started to run into problems.
Here’s a little hint about the main challenge that Justin faced as his real estate business grew.
He says that his work is the only reason why he hasn’t brought another child onto this Earth.
He found himself so focused on income and “traditional” markers of real estate success. Justin had done more than he thought possible in terms of sales.
But he felt spiritually and emotionally bankrupt. He no longer had time for this family and he knew that something needed to change.
Justin actually came to our first ever intensive back in 2014. He stood up in front of a group of just 12 people and told a heart-wrenching story about his daughter.
He’d bought this kite for her and she got really excited about flying it. Every week, she’d ask him if they could fly it.
But Justin kept finding reasons not to do it. Work would get in the way or the wind wouldn’t be right for flying a kite.
Before he knew it, there was snow on the ground and six months had passed. He’d missed an opportunity to spend a little treasured moment with his precious daughter.
That’s when the realization hit him.
He was doing all of this work for them. But he kept taking the memories that he wanted away from himself.
Justin needed to get himself out of the production side of his real estate business. And most importantly, he needed to give himself back the time that he’d lost with his family.
Justin points to three actions that made a huge difference in his business.
Introducing simple forms was the first. Creating a listing intake form saved him over 30 minutes per listing appointment (which now amounts to almost a full day of the work week).
Introducing regular weekly meetings was another key turning point for his team. Again, it was all about keeping things simple. Justin and his team go over the key commitments from the last week and what they need to do to be successful in the coming week.
It’s about making sure these team meetings produce something of value for everybody and move the business forward.
And of course, those meetings build accountability into the team.
And finally, there are the three, five, and 10-year visions.
Where does he want to be? What does he need to do to get him there?
Is he doing those things right now?
These were the important questions that Justin just wasn’t asking. Creating those visions gave him a roadmap and helped him to see where he was off track in his real estate business and what he needed to do to get back on the right path.
The End Result
Justin’s results are less about the numbers and more about the time.
In fact, he says that making these changes lost his real estate business $100,000 in the first year.
I know what you’re thinking. Who wants to lose money?
It turns out that Justin did. Sacrificing that income meant he dramatically cut down on the time he spent in the production side of the business. That gave him time to spend at home with his family.
And that’s what’s most important to him.
Today, Justin’s able to enjoy days where he works from home for just a few hours. And he’s still making a healthy multiple six figure income.
And he’s living a more healthy and fulfilled life. He’s not grinding it out anymore, as so many team leaders do.
He’s given himself the gift of time to create precious memories with his family.
What Can You Learn?
I’ve touched a little on some of the key strategies that Justin implemented.
Now, let’s dig into them a little more and see how they can help you make the shift from top producing agent to real estate business owner.
Tip #1 – Put Simple Forms in Place
30 minutes per client multiplied by dozens of clients … that adds up fast!.
Implementing simple forms, such as a listing intake form, was one of the first things that Justin did. And he says that it was one of the broad strokes that had a massive effect on the business.
He put a full-time assistant in place to process the intake forms. Right there, he’s giving permission to someone else to handle a part of the business that he’d always handled.
That simple step saved him an entire day of work per week. Justin could then dedicate that time to implementation of systems and turning the business into what he wanted it to be.
Tip #2 – Build Accountability into Your Real Estate Business
Justin also talks about the weekly meetings that he holds.
Each has a set beginning and end time. They have key points that they need to cover and they set the plan for his team for the rest of the week.
Those meetings also help him to keep track of performance and ensure everyone’s doing what they need to be successful.
The structure is what’s most important here.
Previously, Justin’s meetings were basically just quick get-togethers. He and his team went over whatever came to mind and spent time on stuff that didn’t matter.
Building structures and processes for the meetings makes them more effective.
Those meetings build accountability in to Justin’s business. Everyone reports on what they’re doing in a defined way, which allows for the creation of a plan of action to move things forward.
Tip #3 – Planning Out Your Vision
Justin also mentions the importance of taking a step back and planning out his vision.
Beginning with the end in mind.
He has three, five, and 10-year visions in place.
It’s something that he struggled with a little at first. He felt conflicted because he wanted to grow the business but he didn’t want to sacrifice his family in the process.
It was a mindset issue.
So, I told him something simple:
Design your business around your life, not your life around your business.
What I mean by that is that your business can become your life. It takes over everything and clouds your vision.
Soon, every process you create for the business puts you more in the business.
That’s not the way it should be.
The time you’re saving needs to go towards your life. It needs to go to the things that really matter to you.
Justin took that advice to heart and hired a listing partner. She handled 92 listings for him while he only did 12.
Interestingly, his income went down by about $100,000. But that was all in service of building the life that he wanted. Justin says that losing that $100,00
Tip #4 – Begin With the End in Mind
What’s the real plan here?
What do you want to get out of your life?
You’ll see people who’ve earned billions of dollars and they’re successful in the traditional sense of the word.
But they get to the end of their lives and say that they’ve done it all wrong.
They’ve got a lot of money but they’ve got a string of failed relationships behind them. They have estranged children and haven’t achieved what they really wanted.
Begin with the end in mind.
Know what you want from your life and build everything else around that thing.
It’s not all about the money.
Justin realized that he’d buried himself too deeply into the production side of his real estate business. He ended up with no time at all to spend with his family.
In the end, a few simple changes were all that it took to help him to realign. Now, he’s working less in the business and spending more time doing the things that he enjoys in life.
You can achieve that and so much more with the right business coach (Like Real Estate B-School) :)
PLUS: Whenever you're ready ... here are 4 ways I can help you scale YOUR real estate business and achieve true time and money freedom.
1. Schedule a FREE Business Growth Strategy Session
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2. Get My FREE 'Real Estate Business Growth Blueprint' Report
This 15 page report will give you the framework and step-by-step process I used to go from $0 to consistently selling over $3m per year in gross commissions working 1 day per week. Reading this report could be the most important thing you do in your real estate career, Click here.
3. Join The Business Growth Network
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4. Get The REBS Online Toolbox
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