Building and Scaling Your Real Estate Business with Mike Schumm
Success in the real estate industry with a team hinges on making smart hiring decisions and recognizing that it's a relationship-driven field, not solely about sales techniques. For realtors to build and scale their businesses, they need to understand the importance of fostering meaningful connections with clients and colleagues. Understanding their own personalities is also critical to determining their leadership style and being open to learning from mentors and coaches. Using these principles, real estate professionals can increase their chances of achieving long-term success in the industry.
On the most recent episode of The Art of Agency, Jonathan and Mallory have an insightful conversation with Jonathan’s long-time friend Mike Schumm, a seasoned real estate coach with three decades of experience building successful businesses. Mike shares how to establish a thriving real estate team and the detrimental effects of short-term thinking on your career. If you're curious about the benefits of coaching but not ready to hire one just yet, this episode is packed with Mike's knowledge gained from working closely with real estate agents over the years.
Jonathan and Mallory find out from Mike:
Making $100,000 your first year in real estate is unlikely. Most new real estate agents don’t have any formal sales or marketing background, and real estate is primarily about marketing and branding. To be successful, you’ll need to learn about these two things. In addition, understand your personality type and what aspects of real estate you’ll be best suited for.
Come into your real estate career with a game plan. Turn off the news. Turn off social media feeds. Ignore the distractions, put your head down, focus, and don’t worry about things you can’t control.
A coach can hold you accountable. They’ve been where you are, and they can provide guidance to get you where you want to be faster.
Don’t think short-term. Real estate thrives on relationships, which take time to nurture. If you’re only thinking short-term, your clients won’t contact you when it’s time to buy or sell again. They move on if you’re not nurturing the relationship. Your job is to form relationships.
To hear more of what Mike Schumm has learned in his 30 years of business, don’t miss this episode of The Art of Agency.
If you want to learn more about the Art of Agency Podcast, check out https://www.trustgreene.com/podcast/aoa/013