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Episode #26-The three stages of a real estate business. Build, Grow, Wealth!
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Introduction
- Host: Bob Mangold, the listing coach.
- Episode: #26
- Duration of the podcast: Six months
- Gratitude expressed to listeners for downloading and sharing.
Main Topic: Three Stages of a Real Estate Business
- Stage 1: Building Your Business
- Create a business model that doesn’t rely solely on yourself.
- Build a database of potential sellers, not buyers.
- Develop a local, national, and global referral network.
- Establish unique value propositions to differentiate yourself.
- Create systems to generate income from multiple streams in each transaction.
- Stage 2: Growing Your Revenue
- Focus on gaining market share through listings in specific areas.
- Utilize social media and online systems to grow the business using your database.
- Expand your Rolodex of referral partners (CPAs, insurance agents, etc.).
- Increase the number of people who know you by conducting open houses.
- Develop strategies to encourage potential clients to raise their hands and express interest.
- Stage 3: Building Your Wealth
- Manage systems to ensure CRM and ads are running smoothly.
- Use cash flow to accumulate assets.
- Invest in real estate to grow assets and secure tax benefits.
- Create strategies to protect wealth and minimize taxes.
Market Update:
- Mortgage market shows signs of improvement, but no drastic changes expected.
- Fed interest rates may increase due to inflation and job market slowdown.
- Government criticized for manipulating job numbers; actual data from ADP indicates job losses.
Additional Resources:
- Facebook group: Real Estate Asset Advisors for scripts, presentations, and free materials.
- Bi-weekly Elevate Business Briefings on Wednesdays at 1 pm Eastern Time.
- Book download at ifyoulistyoulast.com for detailed information on the Home Boss process.
Conclusion:
- Wrap up and encouragement to focus on building and adjusting the business.
- Sign-off reminder: "If you list, you last."
Join our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisors
Visit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.org
Download a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com
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