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The 3 Laws to Building a Real Estate Business Worth Owning w/ Pat Hiban

Lars Hedenborg    August 7, 2019

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One of the biggest issues agents face is over-commitment to the trade.

Once you’re in business for yourself, how do you cultivate and maintain business freedom?

What can you do to stop yourself from being overworked and not spending enough time with your family?

On this episode, I talk with Pat Hiban, host of the Real Estate Rockstars podcast and founder of the Hiban Group.

We discuss what advice he would give to his own children—and everyone else—on building a career in real estate.

"Don’t think you’re doing it for your family— we’re entrepreneurs for ourselves." -Lars Hedenborg

 

Three Things You'll Learn from Pat Hiban

 

Why being a listing agent gives you the ultimate leverage (07:52- 09:46)

When you decide to go into real estate, make a conscious decision to start as a listing agent. This position allows you to have greater control over your deals, primarily because you’re not dealing with buyers. Starting slower and with less pressure from buyers will help you build up to another position, if you so choose.

 

How to generate business without spending any money (11:22- 14:19)

By finding ways to generate leads without spending money, you’re giving yourself the power to decide when to do things. You don’t need to worry about losing anything when you haven’t spent anything in the first place. This means, rather than agonizing over chasing the leads you bought from Zillow, you can be present with your family after business hours.



How to set boundaries for your time so that you don't burn out (17:21- 20:13)

Go into the business knowing your boundaries and accepting that you will lose some deals because of it. You need to be willing to sacrifice a certain number of deals in order to keep your hours appropriate for you and your family. If you’re not sure what the boundaries should be, ask your family what they would like. If your spouse or kids want you to be home on Saturdays and not making calls, that’s your parameter.

  

When growing a team there will be aches and pains, but why sacrifice your time longer than needed and in the wrong areas? REBS is here to help you grow, and grow your team, so you can get the true balance in your life back. Do you want help?

Yes, Help Me Grow My Team!

 

About Pat Hiban:  Pat Hiban is a well-known name in the real estate industry, becoming the worldwide number 1 agent at RE/MAX in 2004. In addition to being a billion-dollar agent, he’s a New York Times International Bestselling author, an entrepreneur and the host of his own podcast: Real Estate Rockstar Radio. Pat is a mentor to many and is passionate about teaching agents and entrepreneurs that they need to create boundaries and view themselves as professionals.

To find out more about Pat, head to: https://hibandigital.com/about/

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