Building a Profitable Business-with David Greene-EP104

During this episode of the Lab Coat Agents Podcast, guest host Tristan Ahumada speaks with David Greene, a very successful real estate agent, real estate investor and author of the book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business. David has amassed a career’s worth of experience in the real estate industry and uses that knowledge to help others get their careers off the ground! Episode Highlights:  As a police officer, David had no intention of getting into real estate when he bought his first rental property. David was able to learn everything about real estate by owning it himself and left the force to become an agent. After a couple of years of building his business and failing, David is on pace to hit about $90M in 2021. There exists a big gap in mentorship and knowledge in the real estate industry, something that David hopes to battle with his book. Through his books and podcast, David exchanges his personal knowledge and expertise for leads. By providing information on a specific topic to a specific sphere of people, you become the expert to those people. David is attempting to disrupt the downward spiral in the real estate industry by educating agents on how to close deals. Back when he was buying rentals, David would listen to the Bigger Pockets podcast for affirmation. After meeting Hal Elrod and getting introduced to the Bigger Podcast guys, David had to learn how to write for the Bigger Pockets Blog. People that find the right mentor are so much more successful than those who try to do it on their own. David found the top producer in his office and offered to do what they hated in order to learn from them. It’s not just about what you say to your clients, but about how you say it that can make the biggest difference. In his book Sold, David teaches agents how to systematically have conversations with people as well as the technical aspects of the job.   Sold is just part 1 of a 3-part book series that will have something for agents with all levels of experience.   People kept coming to David with questions about application and how to get things off the ground, thus inspiring him to write his new book series. You should not get into the real estate conversation with someone until they inquire about your life. The time to be planting conversational seeds is when someone is studying for their real estate test. Even if you’re first starting out as an agent, you already have a database, you just have to bring it together. David teaches that it is best to start with the people that are already in their sphere before they start door knocking. Agents that produce the most know how to consistently follow up. It’s important to play to your own strengths because what works for some agents may not work for others. The work that you put in today will manifest itself in the business that you do in 6 to 9 months. Once you are comfortable with what works for you, the leads will come easier and faster as you go. CRMs, spreadsheets, and the whiteboard system are 3 strategies that David emphasizes when building relationships. David wants agents to understand that not all leads are the same and each one needs to be approached differently based on that person’s circumstances. Listing presentations and buyers presentations are tools that turn leads into clients. Psychology and knowledge allow agents to get a client to sign a contract and close deals. You have to be able to determine a lead’s motivation before you can know if they are going to be a client. By going to the pain point of the seller, agents can find their motivation, but it’s important to remember that you can’t create that motivation. David takes every opportunity to brand himself as the real estate person to his sphere. When joining a team, assess the exchange of value and where you work best based on your personality. 3 Key Points: Throughout life, the more willing you are to help others, the more willing they will be to help you. You have to earn your way into somebody helping you. It’s important to remember that being an agent is not a W-2 job. Your presence in the office will not result in you getting paid. Make sure your actions actually lead to money. Many agents make the mistake of focusing solely on lead generation and not enough on lead follow-up. Top producers know how to systematically follow up until the buyer or seller is ready to move. Resources Mentioned: Lab Coat Agents (website), (Facebook), (Facebook Group), (Twitter), (Instagram) David Greene Website | Books | Podcast  MCBackup Chime (sponsor) StreetText (sponsor)