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Are Real Estate Teams As Profitable As They Say They Are?
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This week, Eric Forney and Greg Fowler explore the truth behind the real estate industry and the misconceptions surrounding it. They discuss the lack of transparency with data in the industry, as well as the myth of working oneself out of a job. Eric discusses the importance of understanding the income needed to run a business and the trade-offs that come with different business models. He emphasizes the need to get clear on the amount of income required and the type of business that suits one's strengths and preferences. Eric breaks down the fixed points of a business, including standards, compensation, cost of sale, and expenses. He explains the trade-offs between different business models, such as high standards/high cost of sale vs. low standards/low cost of sale. Eric also discusses the importance of systems and support in a business and the consequences of different choices.
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