Building a high performing real estate team doesn’t mean that you have to end up with no life. Learn how Andy managed to get his freedom back after losing himself in his work.
It’s the constant battle that every top producing real estate agent and team leader faces.
You’ve built the business from the ground up and you’re heavily invested in its success. That means you’re doing everything while putting every spare hour into your work.
You’re making great money.
But you’re also losing the time that you used to spend with your family. The business never leaves your mind even when you manage to snatch a few moments with the kids.
You’re under extreme stress constantly. It starts to affect everything you do and you end up asking one simple question.
Is it really worth it?
It is worth losing all of your freedom for the sake of building a real estate team?
But here’s a secret.
The traditional idea of “success” in real estate doesn’t apply anymore. You can succeed while dedicating time to the more important things in your life.
Here’s how Andy Mulholland did exactly that.
Andy Mulholland’s Success Story
By all accounts, Andy Mulholland had achieved traditional success in his real estate business.
He was making good money and could provide everything that his family needed.
Except for his time.
Andy spent so much time at work that he barely got to see his family anymore. And when he was around, he was still focused on work and not present.
Andy knew that something had to change. If it didn’t, he’d burn out and may lose the precious time he wanted to spend with his family.
The Key Challenges
At one point, Andy found himself closing 80 of the 100 or so deals that his team did in a year. He had a small team of three people with him, but he wasn’t using them to their maximum capabilities.
He was so focused on his work that he handled almost everything.
That was the key challenge for Andy. It basically became too much for him. The stress just kept piling on his shoulders and he was burning out.
If the business kept growing, it would only get worse.
All of this time spent in the business meant that he was never present for his family. If he didn’t change something soon, his kids might grow up not fully knowing their father.
He resented the idea of that happening. Andy wanted to set the right example for his kids and he realized that he wasn’t living in alignment with his values.
There was one more key challenge that we had to overcome while working with Andy.
He didn’t really believe that we could help.
He knew that others had managed to achieve what he wanted from his real estate team. But for some reason, Andy struggled to get over that mental barrier that told him that he couldn’t do the same with his team.
That’s why he came in with what he thought was an “unrealistic” challenge. Andy wanted to get to a point with his business where he had the freedom to take 30 or even 60 days off at a time.
Little did he know that Real Estate B-School could rise to that challenge.
We implemented three key solutions to get Andy where he needed to be.
The first was the implementation of new lead management protocols and procedures.
Prior to working with us, Andy didn’t really have any accountability built into his lead generation and conversion system. He’d just throw money into lead gen and hope that he got a decent return.
That meant a lot of leads slipped through the cracks.
With the right lead management system in place, he could pay attention to what happened to each lead. He knew where the money went and train people on how to properly handle all of his different lead sources. That meant that as he hired more people, he could spend less time working in the business.
Second, we helped Andy implement business tracking. With our help, Andy figured out where his leads and, ultimately, his revenue came from. He also figured out where he spent his money, which allowed him to figure out what was worth investing in.
That was another huge weight off his shoulders. With proper tracking in place, he knew what was happening in his business at all times.
Finally, there was the leadership issue. Andy didn’t have structured leadership in place, which is why he spent so much time working on stuff that he should have delegated.
With our help, he developed his systematic leadership skills. Better yet, he became a coach for his people so that they could lead when he wasn’t around.
The End Result
On a professional level, Andy’s business scaled dramatically.
When he came to Real Estate B-School, he sold about 100 homes per year. Three short years later he sold over 250 homes and he was able to get completely out of production.
Andy team grew from five people to 12 with a couple team members stepping up to lead the front stage and back stage of his business.
The benefits his personal life is where the real payoff happened.
With a more efficient and competent team, Andy was able to dedicate as much time as he wanted to his family.
He went from working seven days per week to working between one and two to eventually getting completely out of his real estate business. That means he’s spending more time than ever with his family. Plus, he’s not crumbling under a mountain of stress anymore.
Andy’s no longer feeling burned out. And as I write this blog post, Andy is getting ready to take a 10 week RV trip with his wife and 4 kids. Talk about freedom!
What You Can Learn
Andy’s “success” story is pretty typical in real estate. He’d achieved success as measured by traditional standards. But in doing that, he’d lost all of his time and freedom.
What can you learn from his story?
Here are three tips that I think will help.
Tip #1 – Learn to Lead Systematically
Andy solved so many of his problems when he learned to lead systematically.
But what does that mean?
The core idea is that you need a leadership structure that doesn’t require you to put out fires all of the time. When that’s happening, you’re leading reactively. Everyone’s looking to you for guidance and you have no control over the issues they’re going to bring up.
Leading systematically means understanding that you need structure. It also means recognizing that your team has leaders that you need to empower and cultivate.
Focus on showing others how to lead and manage so they can run your business when you’re not there. Train them and make sure they understand your vision. When they’re ready to lead, have them start training and managing others.
This creates a leadership structure that runs down from you into every aspect of the business. It empowers those on your team so you don’t have to keep putting out all of the fires.
Tip #2 – Create a Lead Management Protocol
Do you know what’s happening to the leads you’re generating?
Andy didn’t. So many leads fell through the cracks because he didn’t have a protocol in place for handling them.
Creating a lead management protocol is a simple case of designing the ideal life of a lead.
Track every single lead that comes into your business. Track where it came from, what’s happened to it, and what you want to do next with it.
Create reports regularly so you can keep up with the leads you’re bringing in.
This will save you so much time when it comes to chasing leads. Plus, you won’t find yourself wasting tons of money on leads that you don’t handle properly.
Tip #3 – More is Not Always Better
More is not always better when building a high performing real estate team. In fact, a huge team can cause more problems if you don’t have great systems in place.
This is a mistake that so many team leaders make when scaling up.
Team leaders start hiring without control. They forget about culture and get people who are just the wrong fit. Sure, they have a bigger team. But it’s full of agents and admin who just aren’t going to help the business.
Get a system for hiring and stick to it. One great person is more valuable to you than five who don’t fit your culture.
The Final Word
Andy managed to come back from the brink. In the process, he redefined what success means for him personally and in his business.
As a result of doing the work and building a team the right way, Andy was able to live a life of true freedom. And ultimately exit his real estate business completely.
You can do the same. You don’t have to spend every waking moment working.
But to do it, you have to focus on putting the right systems in place.
I and the team at Real Estate B-School can help you do just that. We can help you build lead generation processes and train you on how to become an effective manager and leader.
We can also show you how to build your culture and hire the right people for it.
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
If you'd like to get on the fast track and find out what you can do right now to scale your real estate business ... schedule a FREE Business Growth Strategy Session, Click here.
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
My favorite thing to do is talk with other successful team leaders about the good, bad and ugly of their real estate businesses. To join the conversation and connect with other Top Producing Agents and Team Leaders, Click here.
4. Get The REBS Online Toolbox
Want Instant Access? The Toolbox contains 30 tools with more than 170+ training videos and over 300 documents and templates that target the 6 key drivers necessary to scale your real estate business. To fully swipe and deploy all of my my tools and systems, Click here.