What do seven-figure agents do differently than the average agent?
There are three secret ingredients to their success:
Systems. They have Lead Generation, Lead Follow up, and Transaction Systems that allow them to delegate repeatable jobs so they can focus on more money making tasks. They profit the most from Client Relationship Systems because this gets them repeat referral business.
Skills. They all have great communication skills. They know how to make people feel confident that they can help them and lead them to a decision in their best interest.
Self-image. They believe in themselves, and it shows up in their negotiation, objection handling, lead generation, and everything they do.
If you want to master these three ingredients, join me at Agent Mastery Live Virtual 2021. I’ll help you develop those critical money-making skills and give you systems and strategies to grow your business fast. Click here to get on the waitlist.
Let’s make this real simple. What do seven-figure agents do that nobody else does? What do they have that others don’t have? What is the difference between agents that make a lot of money, they make a million dollars a year or more, and agents who don’t?
In this video, I’m going to lay it out for you in three secret ingredients that seven-figure agents have that nobody else has.
Hi there, it’s Kevin Ward, the founder of YESMasters Real Estate Success Training, helping you get more yeses and more successes in your business and in your life. If you want the ultimate of success as a real estate agent, hey, let’s make a million dollars in a year. What is it different about those that make a million dollars a year? What is the secret? After over 22 years in real estate, being a real estate agent myself, top producers, having sold over a 100 homes a year and now coaching real estate agents, high six-figure and seven-figure agents, and watching them.
Plus, I coach a lot of agents who don’t make high six and seven-figure incomes. What’s different about them? What is different about agents that actually go over that, break through that glass ceiling, over that threshold of a seven-figure income of making over a million dollars in a year? There’s something different about them, but it’s like, how do you put your finger on exactly what it is? And one of the things that I hear probably more often than anything else is, “I just don’t want to work that hard.” I hear that a lot. Agents are making, they’re making 75,000. I mean, I’m working like crazy. I just, I don’t want to work that hard to make a million dollars in a year.
It’s Not About Working Long Hours
So I want to just first dispel this myth that the secret to making a million dollars a year as a real estate agent is how hard you work. Because if you’re working right now 40 hours a week, or 50 or 60 hours a week, and you’re making $100,000 dollars, working 50 hours a week let’s say.
Do you think that the secret to making a million dollars a year, if you want to make 10 times your income from 100,000 to a million, that you’re going to have to work 10 times as many hours? So does that mean that the millionaire agent is working 500 hours a week instead of 50 hours a week? And the obvious answer is, they’re not.
So first dispel this myth, let’s dispel this myth. Get it out of your head that there’s this correlation between how hard you work and how much money you make. To be really, really honest, Jeff Bezos does not work that much harder than any of his employees. But what he does is very different than his employees. And that’s what you got to understand. It’s a massive difference.
So, I’ve looked and I’ve studied and I’ve watched, and I’m like, “What is the difference? Why are some agents super successful, make a lot of money, and they don’t?” Now there are some things that top producing agents, seven-figure agents do that are no-brainers at all. To make seven figures they do some things that every agent does.
They have strategies. They have effective powerful strategies for lead generation, lead follow. They got all of that, okay? They use scripts. Now, some use one set of scripts, some use another set of scripts. Some have scripts they got from a coach. Some have created their own scripts. Some have them written down, some have them in their head, just from repetition. They have scripts. They have a work ethic. They all have a work ethic. You don’t make a million dollars a year as a real estate agent without knowing how to work hard and be consistent.
All of those are inherent in this idea of a seven-figure income. So yes, they have strategies. Yes, they have scripts. Yes, they work hard. Yes, they are consistent, okay? But I have also seen many, many agents who do all of those things. They have killer scripts, killer strategies. They work their butt off and they still struggle. So the question is not, what do seven-figure agents do that’s like everybody else? It’s what do they do that is better? What do they do that is different? What do they have that you and I, or other non seven-figure agents don’t have?
The Three Things 7-Figure Agents Do
And there are three things that I have observed that every seven-figure agent, every mega producer that I’ve ever seen, that they all have in common. Some of them have mega teams, some of them don’t. Some of them dress in a suit and tie. They dress impeccably everywhere they go, and some wear shorts and flip flops. Some of them work seven days a week. Some of them work four days a week. All of that stuff are variables. But there are three things that are invariable, that are every single one.
Number one, all seven-figure agents have great systems. They have fabulous systems. They have systems that allow them to leverage their effort, leverage their time, and leverage their money, and leverage other people. People that work with them, people that work for them. Systems. Now, here are the core systems that they all have. One, they all have a great lead generation system. Some of it’s a prospecting system, some of it’s a marketing system. Some of them are repeat and referral business. But they all have systems that they’ve used to leverage those.
So they have a lead generation system. They have lead follow-up systems. They all have a great relationship system. Now that starts with probably a CRM, just a client relationship management software. But then they have strategies that are systemized that continually build those relationships, maintain top of mind awareness. And so to help them create repeat and referral business. Probably the most profitable thing that top producing agents have.
Now some agents that make seven-figures are highly profitable. Some of them operate at a 70% profit margin. Some of them operate at a 10% profit margin. So not all million dollar incomes are the same. It’s not just how much you make, it’s how much you get to keep. And if you want to leverage the highest lever system, that is the most profitable, it is a relationship system.
Now in YESMasters Training we call this the Real Estate Vortex. And it is the way you can build a seven-figure, we’ve helped agents build businesses where they’re making $100,000 dollars or more a month. Virtually no more money on marketing and virtually no prospecting outside of the people that they already know outside of their relationships. No cold calling, none of that stuff.
And the final set of systems they have are transaction systems. Just things, they have systems that run the business side, the administrative side. Once they get properties in escrow, listings, all that stuff. They all have great systems in place so that they are outsourcing or delegating the tasks that are done over and over again, that they can outsource for 20, 30, $40 an hour. So they can do the things that make them a lot of money. So, number one is seven-figure agents do and have great systems.
Number two is, seven-figure agents have very high level skills. Now, some of them have massively effective sales skills. Some of them have great negotiating skills. Some of them have great objection handling skills, but not all of them do. But all of them have one thing in common when it comes to skills and that is, they all have great communication skills. They know how to talk to people. They know how to engage people and they know how to make people feel confident. And they know how to lead people to a decision.
Some of them are drivers. Some of them are amiable. Some of them are super outgoing and expressive. Some of them are massive introverts, but they know how to communicate and they are highly skilled at simply communicating. That is the most important skillset that you can develop is the skillset of communication. It’s not being salesy. It is being effective. It is being able to lead people and get them to follow you, to get them to trust you. All of those are skills that all seven-figure agents have. And these are, if you want to win in real estate and build a massively profitable business, systems and skills are two of the highest levered assets that you can have in your business.
But number three is the most important. It is the one thing that seven-figure agents have that other agents simply don’t have. And to be real honest, this is the hardest one to implement. It is the hardest one to develop. It is the secret. And I have seen this, when an agent works on this element and they master this element, their life and business is completely transformed. And it is simply this. It is, they have a great self-image. That my friend is the one intangible that every seven-figure agent I’ve ever met, I’ve ever talked to, I’ve ever seen, ever watched. This is what they have. They believe in themselves. They believe they should be the one to get the ball to take the last shot. They believe in their ability. They believe in their value. They believe in their service. They believe in themselves.
And that shows up in everything they do. In every system, in every skill and every conversation, every action, every interaction, every objection handling, every negotiation, in everything. Their self-image shows up in the way they lead generate, in the way they connect and meet with people. It all shows up everywhere they go. It is the greatest work for most agents. Jim Rowan used to say, “If you want to make a living, work on your business. If you want to get rich, work on yourself.” And it’s not just learning secret strategies and skills, it’s learning how to believe in yourself.
And you’ve seen agents out there, some of them their self-image, they actually have gotten a little cocky, but they believe in themselves. Some of them are humbled, they’re quiet. But when they show up, they believe, “Give me the ball and we’re going to win the game.” That my friend is an asset that whatever it takes to develop, I grew up with a very low self-image. It has been one of the greatest struggles of my life. I was bullied as a kid, and then I was taught not to fight back. So when you’re bullied your whole life growing up, and even as an adult bullied, you just learn to back down to everyone, you just start believing, “I’m not worth standing up for.”
And that was of everything that ever happened to me as a real estate agent, every struggle that I’ve had, the greatest struggle of all was not economies, was not markets, was not seller’s objections. It was my own lack of confidence and lack of belief in myself. And as I worked on that, and I learned to master that, and one of the things that I do with my real estate agents that I coach and have the opportunity and honor to work with is helping them begin to believe in themselves.
Now, if you want to master systems, skills and self-image, I can help you with that. If you want more, you can go to yesmasters.com. We got coaching. We got training. We got online courses. And although coaching is going to be the best way to help you build your self-image, whenever you’re listening to this thing, one of the greatest things you could do is come and join me at Agent Mastery Live, which are my three-day training. Right now in 2020, 2021, it’s virtual training. But those three days we help you develop the key systems that are the most important, the key skills, primarily communication skills and understanding how do you build a powerful self-image.
We train you on the four transformers of life, of how do you transform your self-image like that, overnight. It’s amazing what can happen to you. You go to yesmasters.com, you can go to agentmasterylive.com. You can get a ticket to join me at our three-day event that will be coming up February 8th, 9th and 10th of 2021. And in between now and then there’s a whole lot more that I can do for you.
If this video has been helpful for you, make sure you give it a thumbs up. Put your comments. Is there something I missed? If there’s something you think that seven-figure agents have that others don’t, I’d love to hear your thoughts on it. If you like the channel, make sure you subscribe to it. Play to win and always expect YES!