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How to Grow Your Real Estate Business with the Compound Effect · The Real Estate Agent Playbook

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  Just recently passing my 10th year anniversary in the real estate business,
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  and just building an amazing business by referral, which, you know, is
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  absolutely the best way to do it.
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  In my opinion, there's a million ways to build this real estate
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  business, but by referral is, is so important while reading the compound
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  effect right here by Darren Hardy.
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  I absolutely was reminded of the nuances to building business by
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  referral and the amazing opportunity that it provides as real estate agents.
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  So we're going to talk about this book and my reaction to it next.
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  So stay tuned.
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  What's up guys.
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  Jeremy Cain, real estate agent playbook.
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  Helping you win every single day at the game of real estate both in the podcast
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  community as well as youtube Please like comment subscribe on youtube and share
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  this podcast with any agent that you think could use the knowledge and we're
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  just growing that community So if you're trying to you know, help me out leave
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  a review i'd be happy to help super in this, this book, the compound effect.
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  And I really enjoyed reading it because it was really just kind of social
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  proof, so to speak at how I built my business and how I went, went about it.
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  And, you know, obviously being 10 years in and having some things,
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  just some really good reminders.
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  And if you haven't experienced the compound effect in your business
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  and you've been in for a little bit.
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  I would love to sit down with you and have a chat.
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  This is something we absolutely talk about weekly in our,
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  our masterminds that we have.
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  We have five different masterminds associated with our group, the Wolfpack.
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  If you're interested in that and talking about that, please
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  check out REAgentWolfpack.
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  com.
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  I would be happy to discuss what we're doing and what we could
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  possibly do in partnership to help you compound your business.
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  So let's get into this episode here.
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  Now, reading this book, a lot of times when we're talking about, you know,
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  the compound effect, we just think things kind of happen naturally, right?
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  We need to get a listing so that we can leverage that to get buyers, you
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  know, and, and the truth is, is that to really experience this compound
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  effect positively in your business, you have to have a system to it.
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  Right.
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  And so just like anything else, you know, we think things kind of happen,
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  but when we really look back, we can see, okay, it was these specific
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  actions in this specific system and process that led me to, you know,
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  convert this FSBO into a seller or, you know, convert this, this seller.
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  You know, who's talking about, you know, renting for a while into a buyer as well.
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  So we're double ending it.
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  So just those systematization things that really can help you build a business is,
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  is something here and it's not just luck.
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  It's not just, you know, it's not second nature for, for these things
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  just to compound on each other.
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  You have to have a system in place to make that happen and absolutely leverage
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  every single piece of the compound effect.
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  And one thing they talk about is the luck formula.
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  Which, you know, is preparation, right?
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  So personal growth, being ready, you know, having the energy to serve
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  and, and, and being flexible to understand, you know, what's coming
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  at you and how you can do that, right?
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  So we can have systems and processes, but flexibility is huge and that kind of
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  comes from the personal growth, right?
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  What's your mindset?
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  What's your reaction?
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  What's your...
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  You know, what's your work life balance?
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  All of those things play into how we react to certain situations.
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  And, you know, if we can be problem solvers, we will absolutely
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  take it to the next level.
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  So the next piece is attitude, right?
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  So it's a belief in mindset that anything can be possible.
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  You can serve anybody.
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  You can help anyone become a home owner.
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  You know, all of those things.
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  So believe in, in what you're selling essentially, right?
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  The best salesmen absolutely believe in what they're selling.
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  And it's not just the script that they convert.
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  They actually have to have a belief in what they're selling.
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  We're selling homeownership.
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  We're selling the power of real estate, the leverage of using other
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  people's money, you know, to build wealth, all of those things, but
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  you have to actually have a belief.
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  You have to believe that it's a good time to buy.
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  You have to believe that it's a good time to sell and in your, your own
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  soul so that you can portray that in an authentic way to your clients.
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  The next part of the luck formula is opportunity, right?
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  Presence and positioning is absolutely key.
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  So you have to be in the right place at the right time.
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  But when you see an opportunity, when you see.
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  You know, somebody that's floundering a little bit and about to make, you
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  know, a decision that may not work.
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  You have to seize that opportunity.
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  Step up with value.
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  Just yesterday I was at a training, and they were talking about it and
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  the speaker, you know, was on stage and she's a client of mine and she was
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  talking about her son and how he was, you know, asked to move back in the house.
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  And she said, Nope.
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  And he's going to go rent an apartment.
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  Well, her son and I have.
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  Talked about purchasing a home and whatever.
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  So I reached out and I said, don't do it.
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  Like we can, we can make this work.
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  You're going to pay 1, 300 for rent.
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  You know, we could possibly get into some sort of multifamily or a house
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  hack situation where, yeah, maybe you're not in a perfect cashflow situation.
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  Maybe, you know, you're taking up a room, so you're going to pay 800 to
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  a thousand dollars, but that's going towards your financial success, not
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  just, you know, somebody else's, you're not throwing away 13, 1, 500 a month.
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  While you're kind of trying to prepare for that perfect cashflow situation, right?
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  And then maybe we're able to have him in there, gets in there, benefits from
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  the equity gain that's coming when the interest rates drop, the interest
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  rates drop, he can refinance, he can remove himself from that, replace his,
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  you know, his rent, so to speak, that he's paying and absolutely level up.
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  So taking advantage of that opportunity, having, having the problem, understanding
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  of, okay, what's the problem?
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  What are What's the reason that we would go to rent at this point in time?
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  Well, you know, there's no perfect cash flow opportunity.
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  Well, I'm telling you right now, renting is no cash flow opportunity for anyone.
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  So, kind of jumping on that and seizing the opportunity and how
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  you position it matters, right?
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  People's lives is people's lives, you know, so to speak.
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  So super important.
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  And then action executing on the opportunity when it's presented.
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  Exactly what I did start a conversation.
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  He's going camping friday.
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  He'll be back monday Let's hit the ground run and see if we can make something work.
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  This is absolutely, you know a situation where I know the parents I know the
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  son, you know, I know the parents are willing to help a little bit But
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  they don't want him to live with them for six to seven months So how do we
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  massage that how do we take action?
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  and and build out the plan and actually execute on a plan so that
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  you know, they're not mad at me when he's staying with them for seven
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  months, but You know, he's also not throwing away a ton of money in rent.
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  So just seizing that opportunity, that's the luck formula, right?
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  Luck.
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  Isn't just, Oh, you know, I happened to stumble upon this client and here we
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  are, no, it's, it's paying attention, being present, you know, having the
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  energy as a, you know, in the personal development space to be prepared,
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  have the right attitude mindset.
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  Seize that opportunity when you hear it, right?
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  Locate that opportunity and then attack that situation with action.
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  And that's really what, you know, luck is.
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  So, if you're just waiting on, you know, Oh, that agent's lucky.
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  They have so many clients.
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  It's not, it's not that they're, they're putting this system into place.
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  They're, you know, executing, and then they are in the right place at
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  the right time, they do have other conversations because, you know.
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  Being right place, right time is one thing, but executing on an opportunity
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  and converting that into business.
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  And then, you know, having the ability to leverage and compound off of that business
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  is, is what this book is all about.
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  The next thing we talk about is association, right?
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  In this book, they talk about it a ton.
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  You are, or you will be the average of the five people you surround yourself with.
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  So take a step back, right?
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  Is, is your friend group really the group that you need to be associating with?
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  Yes.
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  It's comfortable.
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  Yes.
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  It's fun.
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  But are they helping you level up doesn't mean, you know, you
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  can't ever, you know, talk to your friends again, go find new friends.
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  That's not what I'm saying because, you know, again, you can have the luck
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  formula involved there eventually, but you also need to see, okay, in my business,
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  who am I surrounding myself with?
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  This was huge when I made this transition from, you know, my dad's brokerage to,
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  to the brokerage I'm at now, the ability to go from a, you know, a local small.
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  You know, thousand person, you know, brokerage where, you know, 10 to 15 of the
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  agents are producing at a high level to an organization, a global organization where,
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  you know, 100 to 150 to 200 agents are absolutely, you know, crushing it, right.
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  Producing at even higher levels than I could even imagine.
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  And so that's definitely pulled my success up and it's pulled my competition
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  up and, and allowed me to be one of the top agents out of 2000 agents
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  in our entire organization, because that competition feeds the fire.
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  You know, we mastermind, we have true masterminds.
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  It's not just, you know, Hey, you know, somebody up on stage talking.
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  It's, it's, Hey, let's collaborate here.
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  Let's do this, right?
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  We have, we have top level training, but then the connections that are made
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  on the outside, picking up the phone, calling somebody else in the organization,
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  maybe in a different market where I would never even have access to at a
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  traditional brick and mortar brokerage.
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  So that's, that's absolutely the key is associating yourself within your
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  business, within your position, man.
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  to, you know, be around, you know, the five best possible people
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  you can to help you level up.
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  The next is disassociation, right?
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  Disassociate from the people that are constantly chatting about,
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  you know, how bad life is, right?
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  We can't have that, that negative mindset, that.
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  Constant pulling down, right?
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  If every time we get together, we have to, you know, convince them that life's
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  worth living and, and that kind of stuff.
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  Now, I'm not saying just throw them in the dumpster if that's where they're
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  at, but, you know, definitely kind of disassociate yourself with, with some
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  of that negative talk and, you know, the market's going to crash and real estate
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  agents are dumb and, you know, all of this thing, because if they don't believe
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  in, in what we're trying to do together, then they're just dragging you back.
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  planting seeds of doubt in your mind, which is absolutely a problem.
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  So the next thing I want to talk about is limited association, right?
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  So they talk a ton in this book about this.
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  And, and I kind of touched on it when I was talking about your
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  friends and you know, just, you don't want to leave them in the dust.
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  But they talk a ton about three minute people, three hour
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  people, and three day people.
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  And that's something, you know, do you want to go on a retreat with, you know,
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  these higher level, well, this puts you in kind of that average of the five people.
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  Like, that's where you want to go on a three day retreat with.
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  Like, always leveling up, always, you know, great connection
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  and energy within that group.
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  Right?
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  Three hour people.
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  Maybe this is, you know, your family or somebody that falls into this.
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  Okay, like I can handle that for three hours, but then I got to move on.
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  Right?
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  And the three minute people, those are the people that we
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  probably should start to phase out.
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  Can't stand them for three minutes.
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  Then we probably, probably don't have a ton of connection.
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  They're probably not serving you.
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  It's not serving you to serve them, in that time.
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  So, that's, that's kind of an interesting...
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  Way to think about it.
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  Three day, three hour, three minute people.
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  Then what we want to do as far as association goes is we want to expand
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  our associations with the people that are constantly pushing you, right?
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  Those people that you can absolutely trust call on time of need.
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  They're going to be real with you.
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  They're going to be raw with you and tell you exactly how it is, right?
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  We don't need a lot of cheerleaders in our entrepreneurial space.
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  There's definitely a time and place for them, but we need
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  honest, legit feedback, right?
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  Just today I was, you know, talking to a lender.
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  partner of mine.
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  And she's like, Hey, Jeremy, I want honest feedback on this email.
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  I'm about to send out.
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  What do you think as a participant, as a receiver?
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  What do you, what's your, your thoughts?
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  We had 10 to 15 minute conversation.
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  She's like, boom, that's great.
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  Thank you so much.
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  She recrafted the email.
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  She sent it out and we'll see what the results come.
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  But having those people that you can absolutely rely on.
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  In those times to give it to Ron, Ron real, we don't need, we don't need
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  the rah, rah, cheerleading, whatever.
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  We can kind of handle that ourselves.
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  There is a time and place for that, but when we're doing this, we definitely
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  want to expand on, you know, those associations that are going to give you
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  those absolutely truth bombs every chance they can and kind of pushing that forward.
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  That's kind of like the peak performance partner is what they call it in this book.
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  And, and maybe you just call them on a weekly check in basis and you
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  say, Hey, give me one thing that.
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  You know, I should stop doing right away.
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  Give me one thing.
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  I should start doing right.
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  So they're looking at they're in conjunction with you.
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  They're in collaboration with you.
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  So they see it.
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  Give me one thing to stop and one thing to start this week.
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  Go and then you give them one.
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  And it's kind of like an accountability partner.
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  I really hate that term because if you need someone to tell you when you're
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  doing something wrong, it's a whole thing.
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  But tell me one thing.
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  I should start one thing.
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  I should stop.
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  Yeah.
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  And let's go.
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  I'm going to execute.
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  No questions asked.
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  I'm going to go with it because I trust you.
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  I know that you're, you know, you're kind of an onlooker that,
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  that has, you know, some clout.
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  So, that's really a cool way to kind of incorporate these
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  associations and do that.
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  The next thing I talk about is investing in mentorship, coaching, right?
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  I'd be happy to talk with you about, you know, traditional game plan.
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  I'm not a coach.
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  I'm not going to sit here and sell you on that.
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  I think what I provide my group.
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  That my downline at EXP is a ton of support and coaching and culture, within
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  our group to, to really level you up.
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  I don't necessarily charge people to coach.
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  Hey, I don't need somebody to, you know, call me and be like,
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  okay, what do I need to do today?
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  Make five calls.
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  Did you make the calls?
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  How'd it go?
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  You know, that's, that's not really what I'm here.
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  I, I love coaching to the masses and then having these one on one
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  partnerships within my downline.
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  To help people scale to the next level.
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  So if you're interested in that, definitely book a call reagentwolfpack.
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  com and we can go from there.
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  But the next is, you know, develop your own personal board of advisors.
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  OK, so we're kind of moving from the, you know, peak performance
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  partner to an entire board.
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  Right.
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  Let's, let's have five or six people that can all have input on this business.
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  Maybe they are business partners.
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  Maybe they're just, you know, a group of successful people.
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  This is what I feel kind of at the Wolfpack, how we kind of have that, you
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  know, our icon agents and you know, all the icon agents are kind of, you know,
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  in communication, whether it's one off texts or, you know, engaging in socials
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  and that kind of stuff, but if you can have that board of advisors of the people
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  around you that are kind of in your same life cycle and your same production cycle.
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  then that's huge.
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  And that's absolutely something that's available to us through
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  the great group at the Wolfpack.
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  Okay.
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  So it's big takeaway time, the compound effect by Darren Hardy.
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  Absolutely worth a read.
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  I'll flash it up here one more time.
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  So you can search it on Amazon.
• 14:12
  I'll put a link below, no affiliate link.
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  Just, just, so you can grab it real quick if you want.
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  The compound effect is about personal excellence, right?
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  Andy Fusella.
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  Personal excellence is the ultimate rebellion.
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  You know, he kind of goes in the political way, but it's also about
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  business and he's an excellent leader.
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  So personal excellence is, is how we kind of set ourselves apart, how we make
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  a difference in the world, which, you know, last I checked, everyone kind of
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  wants to make a difference in the world.
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  But the, the big takeaway is how you do one thing is how you do everything.
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  How you start your real estate business is how you're going to continue it, right?
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  You can make changes, you can make adjustments, but that energy
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  level, that input versus the output is, is something huge.
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  So how you do one thing is how you do everything.
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  And then if you do everything, you know, even the, the beginning
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  parts of your business, if you're.
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  You know, focused on them and you're taking care of them.
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  You're giving them care and you're building these pillars, giving it a
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  good foundation that'll absolutely compound into similar, you know,
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  actions, which will produce similar results as you move forward.
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  And then once we've had that, once we have that foundation, once you have
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  that routine that you're absolutely pouring into and your work ethic, then
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  we're going to start talking about.
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  You know, measure what's managed, right?
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  What gets measured, gets managed, and then you can, you know, make those
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  small tweaks and you know that, you know, Hey, this isn't working anymore.
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  Kind of change the wrapping paper, whatever that might be, but what
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  gets measured, gets managed.
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  And you can then have complete domination when the compound effect takes full
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  effect because it's, it's really easy to say, yeah, I'm going to do this
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  right, I'm going to work hard and run through a sprick while we all know
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  that that's not going to be, you know, salvageable for the next 40 years,
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  you're going to be very different person.
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  You're at very different energy in 40 years.
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  But if we're doing everything the right way, we're measuring it.
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  We're managing it.
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  We're not doing too much extra.
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  We're seeing what's working.
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  We're making tweaks.
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  We're continuing with that pursuit, with that system and process, the compound
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  effect will absolutely change your life.
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  So I hope this one helps.
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  Definitely a good read.
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  Go out and check it out.
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  Please like comment, subscribe, share this with any, real estate
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  agents that might, might need it.
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  Whether you're on YouTube, you can share it or on the podcast.
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  I'd be grateful for that.
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  Have a good one.
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  Bye bye.