If you open your business early in the morning and lock it up late at night, then you are dedicated. You are the champion of sensational work ethic and hard work. There is no single person in your life who will ever say that you are not committed to your business. But here lies the problem. Ever heard people say that all work and no play makes Jack a dull boy? Sure. Your life will not only be dull but you will also break down. Without taking time off from your business to do other things you love, your personal life will slowly deteriorate. You will stop being you and eventually become a slave to your business.
In this episode, James P Friel of Contract CEO interviews Shawn Lynam where they discuss on how you can become a successful real estate agent without having to be a slave to business. They touch on ways to really grow your business intelligently. Why should you listen to Shawn Lynam and not any other individual out there? Read on to find out why?
Shawn Lynam is the founder and CEO of Leads 2 Profitability, a United States based company that helps real estate professionals boost closings, generate more leads and maximize profit margins so they can grow their business and have more freedom in their life.
Education is the key to success in life, a common adage that has been used over time to motivate children and young adults to succeed in life. This is evident because it made a long-lasting impact on Shawn. He holds a Bachelor of Science (BS) degree in Computer Science Engineering from Penn State University. He also graduated from Temple University Graduate School with an MBA in Finance.
Shawn has coached a lot of people giving them strategies on how to get better results from their businesses. He is one of the heroes in the real estate space who have really mastered the heart of real estate coaching and lead development.
This is a special episode in that the guest, Shawn Lynam, is a really knowledgeable guy when it comes to providing value to real estate agents across the country to help them grow and better business. The things that they discuss in this show are not only applicable to realtors but also other people doing other things. So even if you’re not a realtor stay dialed into this because you are going to get some really good information from James and Shawn.
What you will hear
[04:34] What is the average realtor doing wrong.
The average real estate agent makes $47,000 per year. Why is there this gap from the potential to make money in real estate and the average performance? What is the average realtor doing wrong in that they can’t increase their potential earnings?
[06:28] Why so many people get into real estate business? One of the reasons is the enormous opportunity to sell a billion worth of inventory and get paid a percentage with no marketing budget. The second reason is the urge to be your own boss. The third reason is because of large commission involved in real estate business.
[08:20] Why is there this gap between what’s possible for somebody to make real good money in real estate? Why are so many people struggling to make good money in real estate? What are the things preventing an average realtor from becoming great? These include things such as wearing too many hats, not knowing how to get leverage and poor positioning.
[16:40] What do the highest performing realtors doing differently which enable them to earn more than average realtors? One reason Shawn gives is that successful realtors leveraging a ton of other people’s time as well.
[18:54] What are some of the first steps that somebody can take to get massive leverage? Shawn points out that true success should be like; what do you want your life and work to look like? And then how does real estate or your business fit into that? And then how do you get there as quickly as possible?
[22:09] What’s the average time that average realtors can take to become whatever they define as success in their own mind? One of the things Shawn advocates is for realtors to make a decision that they are going to stop losing money by doing things that keep on stealing their time they would have spent to promote their businesses or be with their families.
[29:37] Generally, 80% of your results are going to come from 20% of your efforts. In real estate, it is a bit different. 95% of your results are probably going to come from 5% of your effort. So figure out what that 5% that you do really well and do a lot of that.
[31:00] When is the right time for real estate agents to start worrying about finding more leads and high level. How do they go about it?
[35:28] What tactics and strategies do realtors use to help them start differentiating themselves from everybody else? They include things such as the power of positioning, messaging on a daily basis and much more.
[45:50] If you’re doing any kind of business, real estate or not, you have to provide an amazing consumer experience or you will you’ll take life.
[48:05] If your goal is to sign a contract with a client whether it’s real estate or anything else so you’ve got them locked into working with you, that is the absolute wrong reason to have a contract. The right reason to have a contract is to document the decision and document the agreement so you guys know exactly what you’re talking about. The ability to stay involved in that business relationship should only occur from one reason and that reason is that you’re providing value. If you if you’re not providing value to somebody why would you want to lock them into a contract? Put yourself in the other person’s shoes.
[51: 30] The best way to stand out from a crowd is to stand for what you believe, stand by what you work for, promise people what you know you can deliver and then deliver it right.
[52: 12] Work with people that you know are motivated. People you know are going to be able to make decisions that you’re going to enjoy working with. Be in charge of who you do business with. Know who is a fit and who’s not.
Resources and Links