The Millionaire Real Estate Agent Book Summary

Book Summary

By Gary Keller, Dave Jenks, and Jay Papasan

15 min

Audio available

Brief Summary

In order to become a successful real estate agent and make $1 million per year, agents should emulate the methods and techniques of the top-earning agents. This includes prioritizing generating new client leads, increasing their seller listings, and leveraging their time effectively. Hire top employees to whom you can delegate routine tasks, and implement documentation to ensure your workflows are as productive as possible. Agents should prioritize tasks that enable them to reach their long term goals, which also means prioritizing clients that bring the most business and politely saying no to the rest.

About the Author

Gary Keller is an entrepreneur, bestselling author, and co-founder and chairman of Keller Williams Realty International. He was named Ernst & Young’s Entrepreneur of the Year and was a finalist for Inc. Magazine's Entrepreneur of the Year.

Dave Jenks is a bestselling author and former president and CEO of Century 21 the South Central States. He previously owned The Leadership Connection Inc. and is a former Dale Carnegie Institute teacher.

Jay Papasan is a bestselling author, investor, and vice president of publishing and executive editor at KellerINK. He has previously written for Texas Monthly and Memphis Magazine. He co-owns The Papasan Real Estate Team with his wife and was named one of Swanepoel Power 200’s Most Powerful People in Real Estate in 2014.

Topics

Money & Investments

The Millionaire Real Estate Agent Book Summary Preview

What You’ll Learn

The techniques and strategies top-earning real estate agents use to grow their business
The three most essential business areas to focus on to reach millionaire status
Why setting goals are an essential key to long-term success

Who Is This For

Any real estate agent hoping to grow their business
Professionals seeking new techniques and methods that will help them increase their income

Key Insights

This book outlines techniques to help real estate agents build a strategy for them to earn $1 million through their real estate business. By taking the advice of top-earning real estate agents, you can learn how to incorporate their proven success techniques into your own business. The best agents know how to effectively reach out and market to clients, hire the best talent, focus on personal development to improve their effectiveness, and create a lucrative business that can net over $1 million in passive income. They also avoid costly mistakes, such as impulsive decision-making and poor planning.

High earning real estate agents focus on three key business areas: generating client leads, finding seller lists, and leveraging time effectively. These three areas can make up more than three-quarters of their profit.

Client leads are the most important part of the business because there can be no business without clients. In order to find new clients, real estate agents should actively seek out and market directly to potential clients and not simply rely on referrals.

The best way for agents to grow income in the short term is to increase their number of seller listings. They are relatively easy and cheap to obtain, and they are an important marketing tool.

Agents must also be able to manage their time wisely. This means hiring top talent to take tasks off their plate, prioritizing their time, and accomplishing their most important tasks first. All of this can help them build their business and achieve their long term goals. Real estate agents must first learn how to think like a millionaire real estate agent and implement their tools and techniques before they can achieve their goal of making $1 million per year.

Doubt Limits Your Earnings

Many real estate agents put a cap on their earnings before they even start, simply by limiting their thinking. Many agents will simply decide that earning a $1 million annual profit is impossible before they even truly attempt it. It is important for real estate agents to advertise, plan ahead, and set monthly and yearly selling goals if they truly want to attempt to become a millionaire.

According to Science Magazine writer David G. Jensen, most self-doubt stems from fear, not only of failure but often of the change that comes from success. People fear actually achieving their goals and becoming successful because they worry they are not truly capable of confronting the success of the new challenge will bring. Additionally, success brings change, which breeds new challenges that you will not be as adept at confronting right away.

According to Jensen, you can help get over your fear of success by reaching out to top professionals and...