Millionaire Real Estate Agent: Book Review
Millionaire Real Estate Agent: Book Review
The Millionaire Real Estate Agent, written by Gary Keller, Dave Jenks and Jay Papasan is one of the foundational book for anyone wanting to begin a career selling real estate.
This is a must read for anyone that wants to sell real estate. Now having said that, in many ways this is a very theoretical/abstract book. It teaches you "How things should be done," and in many ways skips over the day to day aspects of running a real estate business. Again, this is all very big picture thinking. There is always a time and a place for big picture thinking, but we cannot forget the day to day planning and doing for running a real estate business as well.
I would highly recommend this book for anyone beginning a real estate career to read this book over and over again, and then challenge themselves to apply the concepts from this book to their business. This book will teach you framework on what it will take to grow your business all the way to a very large and successful one.
However, the story is incomplete.
I will also encourage you to do is to explore the service aspect of your real estate business, which this book hardly mentions. At the end of the day, no matter what anyone tells you, selling real estate is a service business and if you are anything like me, you might over look this simple idea and get lost in the technical aspects of running an real estate business. The reason I know this to be true is that from your clients point of view, they really do not care how big you grow your business. To your clients, they care most about how you handle their real estate transaction, they are most interested in the experience they had when they hired you to sell their home.
If you approach your business from only an MREA point of view, you will be working with the framework, and you will be missing the heart and soul of your business which is the relationships with your clients. A strong argument can be made for this. Your relationships in real estate is what matters most. This book does not explore the service part of our industry, there are other books that do that.
Please do not let what I wrote prevent you from reading this book. This book is still highly recommended and it is at the very top of my reading list.
Below is a brief breakdown of main sections of this book.
Part One: Charting the Course
This section is the "Introductory" part of the book. This section focuses on mindset, the journey ahead, and the Six "Mythunderstandings" or ideas/thoughts that can prevent you from becoming an MREA.
Almost every business or real estate book I have ever read had a beginning section on mindset. This is just further evidence that in order to change your external world, it begins with changing your thoughts, and beliefs.
Part Two: The Four Stages
This section is the meat and potatoes of the book. Which takes you through the four stages of becoming a Millionaire Real Estate Agent.
Stage #1- Think a Million
Again, this section focuses on mindset and how millionaire real estate agents think. If your mindset is wrong, then the technical information does not matter. This section goes through the the nine ways a millionaire real estate agent thinks, and the three "L's" of the Millionaire Real Estate Agent. The Three "L's" are the three most important aspects of a Real Estate Agent that he must focus on to grow his business, they are "Leads, Listings and Leverage."
Stage #2- Earn a Million
This section goes over the Four Fundamental Models that one must master to become an MREA.
The Economic Model- Is a model of the key numbers that one must achieve to become a millionaire.
The Lead Generation Model- This is the model of activity that must be created to generate enough leads to hit the goal of a millionaire.
The Budget Model- This model looks at how spending money affect your business.
The Organizational Model- This model looks at the people you hire and how all the roles come together to form a company.
Stage #3- Net a Million
This section goes through the differences between earning a million dollars and then earning a million dollars. The math breaks down to $2.4 Million earned will net $1 Million. In this section you will learn what needs to happen to take home $1 Million.
Stage #4- Receive a Million
The final stage is when you can replace yourself from your business and continue to earn a million. Very few agents achieve this, and honestly most are not even aiming for this.
Part Three: Staying on Top
The final section of the book gives you "How To" Lessons on what it will take to continue to grow. Goal setting, time blocking, being accountable, and maintaining high levels of energy, are all parts of this section.
I would highly recommend for anyone beginning their real estate career to read this book over and over again, and then challenge themselves to apply the concepts from this book to their business. This book along with many others will give you the foundation of having a very successful real estate career.
The Millionaire Real Estate Agent is at the top of my reading list.
Try the Audio Version on Audible
Buy the Book Now
Subscribe to Our Blog!
If you enjoyed this content, please subscribe.
We respect your inbox. We only send interesting and relevant emails.