Balancing Act: Exploring a Dual Real Estate Career | Mike Hagewood - 044

Realestatable

Can a real estate agent earn a dual income? We’re happy to tell you, yes, you can!

In this episode, you’ll discover how having several income streams while working in the real estate industry is possible. Tune in to hear our conversation with Mike Hagewood on balancing many different hats while building and maintaining a real estate business.

Meet Mike Hagewood

• During his tenure as a firefighter, Mike built a strong rapport with other firemen, medics, and police officers.
• Leveraging these connections, he successfully transitioned into real estate.
• In addition to real estate, his experience led him to invest in a moving company. Now, he is balancing and managing both business ventures.
• Mike's journey shows that building relationships, leveraging opportunities, and adapting to new business landscapes can lead to success in the real estate industry.

Integrating Real Estate and a Moving Business

• Mike's unique position in both real estate and the moving industry has allowed him to create a symbiotic relationship between the two ventures.
• His real estate income initially funded the moving company, particularly during off-seasons.
• Despite challenges, he now finds that the businesses complement each other, enabling efficient task management and resource utilization.

The Importance of Maintaining Focus

• Mike advises new realtors to focus on their primary business until they achieve a substantial level of success.
• He emphasizes that dispersed attention can hinder growth and stability, a lesson he learned the hard way.

The Power of the Right Support Staff

• Mike highlights the significant impact that transaction coordinators and support staff had on his business.
• By having the right people in place, Mike was able to manage his time better and keep both of his businesses running smoothly.
• He encourages new realtors to invest in support staff from the beginning.

Current Goals and Future Outlook

• Mike reveals his current goals, including hiring an assistant, expanding his moving company, and structuring his real estate business for better efficiency.
• He concludes by stressing the importance of consistency, good habits, and self-care in maintaining and growing a successful business.

“You have to find that balance. If I post too much about the moving company on my personal page, they will look at me as Mike, the mover.” - Mike Hagewood.

Resources

Michael Hagewood on Facebook