How Not To Fail In Your First 2 Years Of Real Estate-with Jake Dixon - EP 197

On this episode of the Lab Coat Agents Podcast, Jeff talks with Jake Dixon. He coaches a lot of broker owners, focusing on the agents who sell 24 or fewer homes per year. Jake calls out those who say that the agents who fail just aren’t motivated enough. What if team leaders and coaches are too focused on giving professional advice rather than asking good questions to find someone's strength zone? All new agents should tune in to this episode in order to jump-start their 2023 business. Episode Highlights: What is the differentiation among coaches? There are a lot of struggling agents coming out of 2022. There is no secret with the stat of 87% of agents failing and leaving the industry in the first two years. Jake is from Wisconsin and a cardinal fan. He is a father of two young daughters, and his wife is also his business partner. Jake is very passionate about serving the underserved in doing God’s work.  Jake was drafted as a hitter which he turned down and then took the draft offer as a pitcher with the Anaheim Angels. He had a Tommy John surgery and then re-tore the ligament which eventually took him out of professional baseball.  Jeff asks Jake when and how he got started in real estate. He got his license in 2013 and sold one home and the owner of the company brought him in to interview as the team lead which he got and led to another opportunity to be a team leader in a  top 20 market in NC. Next, he got an offer to be a coach in 2016. In 2016, he transitioned out of the TL role into the coach role and he then looked at beta testing for a coaching platform. Very quickly, the coaching platform took off. In July 2017 they expanded into their first location; By the end of the year they were at 35. The end of the following year they were upwards of 150. Jeff asks Jake what it is that truly helps new agents. He says success lives in your strength zone. He has the ability to ask questions to see what motivates people internally, not just being a good advice giver like most coaches. How do you have your own custom lead generating plan that plays to your strength? Jake explains the 5 to 25 challenge that they use. 5 real estate conversations a day for a year works out to be 1,250 conversations over time. He has tracked this for 7 years and has found a 50 to 1 conversion rate- about 2% which works out to 25 transactions. There is just as much of a leadership problem as there is a “motivation” issue. Jeff asks Jake how he advises people to get started on a conversation list. Jake chunks everything down to time on task over time.    Where does someone start to conceive a list to have real estate conversations who could be legitimately in their market? Jake explains the difference between not having a bigger database and cherry-picking your database because of preconceived ideas. What do you like to do? Find friends and build a circle around there. Jeff talks about how so many get on Social and spam people about their awards and want to sell, sell, sell.  When you are authentic and use that to your strength, Jeff talks about how it truly works and compounds. Jeff reviews his birthday list on Facebook to intentionally make sure there is relevance to his friend list. Once you have a built in CRM, you need to be intentional about how you show up and engage. Jake says he is big on lifestyling. He sees it like Gary Vee talks about - don’t create content- document what you’re doing. Jeff talks about how the younger crowds drive the future of Social and how people prefer to interact. In real estate there is fatigue in trying to do too much too fast. Jake simplifies it. Jeff talks about how life derails you and you have to play the consistency game. Jake advises, “Show up and do the work. Surround yourself with other like-minded positive people.”