How can real estate leaders successfully shift from being hands-on producers to visionary operators who drive team growth and long-term success? In this episode, we break down the key strategies for transitioning into leadership, optimizing team dynamics, and building a scalable business.
Jason Mitchell, America’s #1 Real Estate Broker, shares insight on how real estate leaders can effectively transition from being hands-on to becoming visionary operators who scale their teams.
Watch February’s tip of the month to stay ahead in the Real Estate industry!
Jason Mitchell, America’s #1 Real Estate Broker, shares insight on how real estate leaders can effectively transition from being hands-on to becoming visionary operators who scale their teams.
Watch February’s tip of the month to stay ahead in the Real Estate industry!
Category
🛠️
LifestyleTranscript
00:00That is one of the hardest things to do, because I can only use myself as an example, but when
00:14I transitioned out of the field, which was at the end of 2018, I did $160 million that
00:22year in production.
00:25And it's really tough when you're making a really good living in production to focus
00:33all your time and effort onto building something.
00:37It's a conundrum that is really hard for people to take a step back when it comes to lifestyle
00:43and income, and a lot of people can't do it, and so people do both.
00:48Some people back off their production and build, but they don't put their 100% focus
00:52on building it because, one, it's tough, and two, is it even feasible?
00:58And so you have a lot of people that do both, that still produce and manage and operate,
01:02and there's nothing wrong with that.
01:04For those that jump into it where this has gotten my full attention, which is really
01:10what I did, what we have to be comfortable with is there's still going to be business
01:14there, but you can give that business to other people and still make a cut of that business.
01:19And the hard part is when you get a $1 million, $2 million, $3 million client that you've
01:25had in the past and they're like, hey, we're ready to buy or we're ready to sell, and you're
01:29turning that over and you're like, man, I'm giving up X amount of dollars here because
01:35I know I'm going to sell something, but that's part of it.
01:38And what you start to realize is it's probably better service that way because if our attention
01:44is building something, people deserve full attention, everybody, whether it's a $250,000
01:50buyer or seller or a $3 million buyer or seller, they all deserve the attention.
01:57But it's a hard thing to turn away money, and understandably why.
02:04What I thought was if I can give this my full attention, I can still make money through
02:10the opportunities that I can provide.
02:13My agents will also be happy because they're going to get more business, but I can spend
02:17my 100% dedicated time to building this company.
02:21And in the meantime, I can still make money by referring out production.
02:25And my experience by doing that, that was gosh, six years ago.
02:31It's hard to turn down that money upfront, meaning it's hard to turn that down when you
02:36start it.
02:37But what you start to realize is it's the right thing to do because if you believe in
02:41what you're building, it will ultimately pay its benefit to where it outproduces what you
02:47were doing.
02:48Because the less you pay attention to the growth of the company and the operations of
02:51the company, the longer it's going to take to build the company and to get where the
02:55company needs to get to.
02:58It's a very hard crossroad.
03:01What I'll say is that it's a really awesome position to be in when you can start to pick
03:07and choose what direction you want to go.
03:10Some choose to still do both.
03:12Others choose to go into full operation mode and full CEO mode.
03:19I don't have an answer on what is better than the other.
03:24I can only tell you what I decided to do, and I can tell you unequivocally it was the
03:28right decision to do it because our company has grown significantly over the past six
03:33years.
03:34I don't regret it.
03:35But I also learned that leverage is key and that you can still have your production and
03:39clients there to be serviced as long as you have good agents to service them.