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The Difference between being a Self-employed Real Estate Agent and Owning your Real Estate Business · The Real Estate Agent Playbook

• 0:00
  real estate is the purest form of entrepreneurship
• 0:03
  my good friend Brian Buffini said that
• 0:06
  and the honest truth is it absolutely is
• 0:08
  but when you take a step back
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  at your real estate business
• 0:11
  and you're looking at your entrepreneurial journey
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  are you just self employed
• 0:14
  or are you an actual business owner
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  the truth is
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  most people are just self employed
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  acting as an entrepreneur
• 0:21
  and they really need to focus on owning their business
• 0:24
  and moving forward
• 0:25
  because that'll allow them to have an active strategy
• 0:27
  we'll talk about all that more next
• 0:34
  what's up guys
• 0:34
  Jeremy Kane here
• 0:35
  the real estate agent playbook
• 0:36
  this one's super important
• 0:38
  because we all kind of talk about being self employed
• 0:41
  or small business owners or whatever
• 0:43
  today we're gonna make that delineation
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  because if you're not a small business owner
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  and you're not treating your real estate career
• 0:50
  like your own small business
• 0:52
  that is a problem
• 0:53
  and we're gonna talk about that next
• 0:55
  but as always
• 0:55
  like comment
• 0:56
  subscribe if you're listening on the podcast
• 0:58
  share this with your favorite real estate agent
• 0:59
  looking to grow that community
• 1:01
  and always providing the best value
• 1:03
  and helping you win every single day
• 1:05
  at the game of real estate
• 1:06
  I am offering business audit for real estate agents
• 1:10
  there's a link below
• 1:11
  book a 30 minute call with me
• 1:13
  it's in the game plan
• 1:14
  call but we're talking about self audits here
• 1:17
  and really diving in and me helping you
• 1:20
  get my hands dirty
• 1:21
  and saying okay
• 1:21
  how can we make tweaks and adjustments to make you
• 1:24
  a winner every single day and reach your goals
• 1:27
  when I think about self employment
• 1:29
  versus business ownership
• 1:30
  first thing I do is go to the wealth quadrant
• 1:33
  this is obviously
• 1:34
  something that is near and dear to my heart
• 1:37
  there's 4 things that you need to become wealthy
• 1:41
  and the cool part is
• 1:42
  some brokerages
• 1:43
  like mine offer all 4 of these pieces
• 1:46
  just in a single brokerage
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  or most real estate agents
• 1:49
  you know their brokerage offers one of them
• 1:51
  and they have to go to outside sources
• 1:54
  to build them all up
• 1:56
  in the event they do want to you know
• 1:58
  build out the wealth quadrant
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  become truly wealthy
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  so when we talk about the wealth quadrant
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  we need income
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  that's important
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  we also need equity ownership
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  we need the ability to duplicate
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  and we need passive or residual income
• 2:12
  so we're going to talk about equity ownership
• 2:14
  and I've talked about this before
• 2:15
  at EXP Realty
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  I still hang my license
• 2:17
  I have a managing broker
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  because that's the state law
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  however I do have ownership in that company
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  the fastest growing real estate company in the world
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  at this time
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  and so that's pretty cool
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  and that allows me to have some ownership
• 2:29
  and have a little bit more skin in the game
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  and why does this matter right
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  you see the stock prices
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  you're like oh
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  who cares whatever
• 2:36
  the stock may go up down
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  sideways whatever
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  but at the end of the day
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  if I'm an owner in that company
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  and I own stock in the company
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  that's pretty powerful
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  because the day that I
• 2:48
  hang up my real estate producer shoes
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  and I walk into the managing brokers office
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  which will be in a virtual world at EXP
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  so it won't take me that long
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  but the broker
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  shakes my hand
• 3:00
  says congratulations
• 3:01
  thank you so much for all you've done
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  you've built both the company's wealth
• 3:05
  as well as your wealth
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  because you have ownership in the company
• 3:08
  when you walk into
• 3:10
  traditional brokers office
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  and you say Hey
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  I'm gonna hang it up
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  I'm done producing
• 3:14
  your income goes to 0
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  and that's especially important because
• 3:19
  you don't have the ownership
• 3:20
  and you don't have that
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  so if you're out there as a real estate agent
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  trying to convince people that they need to own a home
• 3:25
  versus rent a home
• 3:26
  the truth is
• 3:27
  you are renting your business
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  which I talk about often
• 3:29
  and I can have
• 3:30
  I have a whole video on that
• 3:32
  that I can tag right here
• 3:33
  that you can take a look at
• 3:35
  so we'll set that aside
• 3:37
  we understand that home ownership is
• 3:39
  much better than renting
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  so why do we
• 3:41
  not incorporate this into our real estate business
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  is my question to you
• 3:45
  the next thing is
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  branding right
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  if you're going to be a business owner
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  you want to take control of that brand
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  and understand
• 3:52
  that this is your brand
• 3:54
  because you have that behind you
• 3:56
  sure some self employed people do build a brand
• 3:59
  but as a business owner
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  you have a little bit more control
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  in my opinion
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  and this is very important
• 4:03
  as an owner
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  so a lot of people get confused by the commission rules
• 4:07
  and you have to have your broker
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  you know named
• 4:10
  on your signs
• 4:11
  and all your marketing
• 4:12
  absolutely that's the case
• 4:14
  that's the law
• 4:14
  we're not here to mess with that
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  but if you can start to build your personal brand
• 4:19
  this is something that can be very powerful
• 4:21
  to your business
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  and a lot of people
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  kind of put that to the sideline
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  and they think
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  you know my brand
• 4:27
  or my company's brand
• 4:28
  is absolutely number one
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  and you know
• 4:31
  that's the reason that you are who you are
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  well that by definition
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  is meaning you're self employed
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  and truly you're
• 4:37
  maybe not even self employed
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  you're an employee of that brand
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  and you're building that brand
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  and using all your blood
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  sweat tears
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  to build that brand
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  and leaving your personal brand behind
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  and I got a news flash for you
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  if you're part of
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  I enjoy being
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  known in my town
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  or I love being number
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  one in our town
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  I love being in that brokerage
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  that's not you
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  that's other people
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  in your brokerage as well
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  building that brand
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  and so you're holding that brand
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  to a standard
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  because your brokerage fooled you
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  the honest truth is
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  is that if you step back
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  and said Okay
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  I'm gonna build my
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  personal brand
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  and I'm gonna become number one
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  and you're gonna compete
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  at that level
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  you will win
• 5:14
  and the truth is
• 5:15
  is that if you looked at your transactions
• 5:17
  which I will challenge
• 5:18
  you to do later
• 5:19
  we'll talk about
• 5:20
  an exercise
• 5:20
  I want you to do
• 5:21
  most of the people
• 5:22
  are usually
• 5:24
  coming from your brand
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  and want to work with you
• 5:27
  and they don't even care
• 5:28
  I've done 500 transactions
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  in my real estate career
• 5:30
  I guarantee you
• 5:31
  if I asked all 500 of them
• 5:34
  you know the more recent ones might have
• 5:36
  you know understand
• 5:37
  EXP Realty but
• 5:39
  they've all known
• 5:40
  I've followed all the rules
• 5:41
  it's been on all my contracts
• 5:43
  and everything
• 5:44
  but if I asked
• 5:44
  him what brokerage I worked for
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  I guarantee you
• 5:46
  they couldn't respond
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  at least 80
• 5:49
  to 90% of them
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  could not tell you
• 5:51
  the correct answer
• 5:52
  of the brokerage I was at
• 5:53
  when I was working with him
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  and that's because
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  they don't care right
• 5:58
  they're working with Jeremy
• 5:59
  they're not
• 5:59
  internet leads
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  coming from somewhere
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  they're not saying
• 6:02
  oh you know
• 6:02
  I wanna list this luxury house
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  so I'm gonna work with this brokerage
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  no if they wanna work with me
• 6:07
  I provide the experience
• 6:08
  and that's what matters
• 6:09
  the next thing
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  we love to hear
• 6:11
  from the gurus
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  is I exited
• 6:13
  10 businesses
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  or I did all this
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  so we must talk about
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  as a business owner
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  the ability
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  to exit right
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  and an exit strategy
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  or an exit plan
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  is absolutely important
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  when we're talking about
• 6:24
  you know being a business
• 6:26
  owner right
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  if you're self employed
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  you probably
• 6:29
  don't have an exit strategy
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  you're probably looking
• 6:31
  for you know
• 6:32
  your Roth IRA
• 6:33
  you're trying to build that up
• 6:34
  and you're doing it
• 6:35
  but some years
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  you don't do it
• 6:36
  and some years you do
• 6:37
  maybe you're looking at you know
• 6:40
  getting into
• 6:41
  being a landlord
• 6:42
  and home ownership
• 6:43
  the truth is
• 6:43
  the cash flow
• 6:44
  while you're leveraging other
• 6:45
  people's money
• 6:46
  is not super amazing
• 6:48
  and so that's where
• 6:49
  we talk about
• 6:50
  revenue share
• 6:50
  and the EXP
• 6:51
  model this video
• 6:52
  is not about exit
• 6:53
  or revenue share
• 6:54
  currently but
• 6:55
  the exit strategy
• 6:56
  and the ability
• 6:57
  to have that
• 6:58
  just based on
• 6:59
  the ownership
• 6:59
  and the equity
• 7:00
  stock and the equity game
• 7:02
  in your business
• 7:03
  by you know
• 7:05
  I pay 5% of each commission
• 7:08
  towards company's stock
• 7:09
  as well as get awarded
• 7:10
  stock for doing
• 7:11
  different metrics
• 7:12
  and hitting different goals
• 7:14
  but that ability
• 7:15
  to have that ownership
• 7:16
  and have that
• 7:17
  kind of forced
• 7:18
  savings account
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  so to speak
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  is absolutely nice
• 7:21
  then you factor
• 7:22
  on the revenue share
• 7:23
  and I can have
• 7:24
  residual and
• 7:25
  passive income
• 7:26
  as long as you know
• 7:27
  I live and then
• 7:28
  I can will it
• 7:29
  to my family
• 7:30
  if I build that
• 7:31
  organization
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  and I help other agents
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  succeed and
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  the point is
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  that I can help
• 7:36
  those other agents
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  become business
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  owners instead of
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  being self employed
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  and help them
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  provide an exit strategy
• 7:43
  changing other
• 7:43
  people's lives
• 7:44
  and so as an
• 7:46
  exit strategy
• 7:47
  a traditional brokerage
• 7:48
  you gotta go
• 7:49
  you know outside
• 7:50
  like I mentioned
• 7:50
  in the wealth quadrant
• 7:51
  you gotta go
• 7:52
  get those rentals
• 7:53
  you got to maybe
• 7:54
  invest stock
• 7:54
  and you know
• 7:55
  other companies
• 7:56
  or whatever
• 7:57
  and you're taking
• 7:57
  all this money
• 7:58
  you know that
• 7:59
  you're saving
• 7:59
  at your transaction
• 8:00
  brokerage and
• 8:01
  I know you guys
• 8:02
  all do that
• 8:03
  because I was there once
• 8:04
  where I took off
• 8:04
  at least 50%
• 8:05
  of my commission
• 8:06
  and invested
• 8:07
  my self employed
• 8:08
  pension definitely
• 8:09
  not right so
• 8:10
  understand that
• 8:12
  the things that
• 8:13
  EXP has in place
• 8:15
  allow you to be
• 8:15
  a small business owner
• 8:17
  while being
• 8:18
  you know licensed
• 8:19
  and having less
• 8:20
  you know so to speak
• 8:21
  headaches as
• 8:23
  as an agent
• 8:24
  of the company
• 8:24
  and not being a
• 8:25
  broker owner
• 8:26
  and so that's
• 8:27
  where it is
• 8:27
  you could also
• 8:28
  be a broker owner
• 8:29
  that's awesome
• 8:29
  if that's your
• 8:30
  personality
• 8:31
  and you're a leader
• 8:31
  and you want to do that
• 8:32
  and you want to
• 8:32
  have your own thing
• 8:33
  that's great
• 8:34
  you can take on
• 8:35
  all the liability
• 8:36
  you can take on
• 8:37
  the you know
• 8:38
  you can be the it leader
• 8:39
  the accountant
• 8:40
  the headmarker
• 8:40
  the head trainer
• 8:41
  you can deal with litigation
• 8:42
  you can also deal with
• 8:44
  you know auditing
• 8:44
  contracts and
• 8:46
  you can build
• 8:46
  a nice residual
• 8:47
  income that way
• 8:48
  you also have to
• 8:49
  pay rent every
• 8:49
  month and do
• 8:50
  all of those things
• 8:52
  where DXP have
• 8:52
  an international business
• 8:53
  opportunity
• 8:54
  with no boundaries
• 8:56
  as far as you know
• 8:57
  borders and states
• 8:58
  and MLS and things
• 9:00
  for $85 a month
• 9:01
  so that's a
• 9:02
  Taylormade exit strategy
• 9:04
  for somebody
• 9:05
  who wants to
• 9:05
  be a leader
• 9:06
  and then you can
• 9:06
  come into the company
• 9:07
  be a leader
• 9:08
  and do the things
• 9:09
  you love to do
• 9:09
  and maybe outsource
• 9:11
  or utilize the resources
• 9:12
  that the company
• 9:13
  has to help
• 9:14
  your brand in
• 9:16
  your business
• 9:17
  succeed because
• 9:18
  you don't have to
• 9:19
  do everything
• 9:19
  and wear every hat
• 9:20
  is the broker
• 9:21
  the beauty about
• 9:22
  EXP I hear all
• 9:23
  the time like
• 9:24
  I don't want to
• 9:25
  recruit agents
• 9:25
  I just want to sell homes
• 9:27
  that's great
• 9:27
  you can still sell homes
• 9:29
  you can also
• 9:29
  have the opportunity
• 9:30
  to collaborate
• 9:31
  with other agents
• 9:32
  and set a recruit
• 9:33
  the honest truth is
• 9:34
  if you're gonna
• 9:34
  build a successful brokerage
• 9:36
  as a managing broker
• 9:37
  you're gonna be
• 9:37
  recruiting and
• 9:38
  probably selling
• 9:39
  west houses
• 9:40
  than if you joined
• 9:40
  a brokerage like
• 9:41
  EXP because
• 9:42
  you don't have to wear
• 9:42
  all the hats
• 9:43
  so come to EXP
• 9:45
  absolutely sell
• 9:46
  your houses
• 9:46
  you can collaborate with other
• 9:47
  agents you can
• 9:49
  mastermind and do
• 9:50
  all of that
• 9:51
  and you can bring
• 9:51
  other agents
• 9:52
  that you enjoy
• 9:53
  working with
• 9:53
  into your downline
• 9:55
  it costs them nothing
• 9:56
  for you to start
• 9:57
  your residual income
• 9:58
  in your exit
• 9:58
  strategy and
• 10:00
  then there are
• 10:01
  something that's
• 10:02
  that's greater
• 10:02
  than themselves
• 10:04
  and here we are
• 10:05
  and they can
• 10:05
  become small
• 10:06
  business owners
• 10:06
  and at the end of the day
• 10:08
  if we're all
• 10:08
  small business
• 10:09
  owners with
• 10:09
  exit strategies
• 10:10
  our lives are gonna be
• 10:11
  pretty cool
• 10:12
  at 50 and 60
• 10:13
  so do me a favor
• 10:14
  and take out
• 10:15
  a piece of paper
• 10:15
  right now and
• 10:16
  I want you to look at
• 10:17
  all of your
• 10:17
  transactions
• 10:18
  maybe you have a CRM
• 10:19
  maybe you don't
• 10:21
  but take a look
• 10:22
  at all your
• 10:22
  transactions
• 10:23
  from the last 12 months
• 10:24
  I want you to
• 10:25
  right next to
• 10:25
  every single
• 10:26
  transaction
• 10:27
  if that came from
• 10:28
  as a result
• 10:29
  of you being
• 10:29
  at your fancy
• 10:31
  Dancy brokerage
• 10:32
  or that became
• 10:33
  of a result of you
• 10:35
  and your spirit
• 10:35
  of influence
• 10:36
  in your marketing
• 10:37
  okay I want
• 10:38
  you to do that
• 10:38
  and I want you to really
• 10:39
  take a look
• 10:40
  at it and see
• 10:41
  does your brokerage
• 10:42
  really matter
• 10:42
  are they giving you
• 10:43
  most of the
• 10:44
  deals if you are
• 10:45
  the only thing
• 10:46
  you're doing
• 10:46
  is paying probably
• 10:47
  a huge split
• 10:48
  on those deals
• 10:49
  if they're providing leads
• 10:50
  and doing that
• 10:51
  but if they're your own
• 10:52
  personal brand
• 10:53
  is your brokerage
• 10:54
  providing ownership
• 10:55
  opportunity
• 10:56
  exit strategy
• 10:57
  stock options
• 10:58
  health insurance
• 10:59
  benefits etc
• 11:01
  in order to
• 11:02
  you know offset
• 11:03
  maybe that money you save
• 11:04
  maybe you're a
• 11:04
  transaction shop
• 11:05
  and you're like yeah
• 11:06
  they're all mine
• 11:07
  but I'm not paying
• 11:07
  the brokerage
• 11:08
  or anything
• 11:09
  that's great
• 11:09
  but are you
• 11:10
  leaving some
• 11:11
  on the table
• 11:11
  because you're not
• 11:12
  taking advantage
• 11:13
  of the ownership
• 11:14
  opportunities
• 11:14
  and are you
• 11:15
  in that group
• 11:16
  that the day
• 11:17
  that you quit
• 11:17
  chasing that next deal
• 11:19
  you're gonna be
• 11:20
  unemployed so
• 11:22
  you're gonna go from
• 11:22
  self employed
• 11:23
  to unemployed
• 11:24
  versus being
• 11:25
  a business owner
• 11:25
  having the exit strategy
• 11:27
  and riding off
• 11:27
  in the sunset
• 11:28
  maybe when you're 45
• 11:29
  maybe when you're 50
• 11:31
  the opportunity
• 11:31
  is absolutely
• 11:32
  there to develop
• 11:33
  an exit strategy
• 11:34
  in a short amount of time
• 11:35
  at a brokerage
• 11:36
  like EXP so
• 11:38
  got on my soapbox
• 11:39
  a little bit there
• 11:39
  thanks so much
• 11:40
  for tuning in
• 11:40
  like comment
• 11:41
  subscribe if
• 11:42
  you are so inclined
• 11:43
  in the comments
• 11:44
  I want you to put your
• 11:46
  transactions
• 11:46
  from the last 12 months
• 11:48
  and tell me
• 11:48
  how many came
• 11:49
  from you know
• 11:50
  a result of
• 11:51
  your brokerage
• 11:52
  or a result of you
• 11:53
  you can just do
• 11:54
  brokerage first
• 11:55
  so if you did
• 11:56
  10 deals last year
• 11:57
  and 9 of them
• 11:57
  came from your
• 12:00
  yourself and
• 12:01
  one came from
• 12:02
  your brokerage
• 12:02
  one slash 9
• 12:04
  we'll get it going
• 12:04
  we'll see what
• 12:05
  it looks like
• 12:05
  and I would
• 12:06
  love to have
• 12:06
  a conversation
• 12:07
  with you if
• 12:07
  you're interested
• 12:08
  in developing those
• 12:08
  exit strategies
• 12:10
  and being a part
• 12:10
  of something
• 12:11
  pretty special to look at
• 12:12
  Jeremy Kane
• 12:13
  DXP Realty real
• 12:14
  estate agent
• 12:15
  playbook go
• 12:15
  win today bye bye