Great Overall Look at the Industry
Gary Keller's book is a great introduction to the industry. It is helpful, not only from an agent's perspecitve, but also from a consumer one as well. Real estate is certainly a complex subject and it is certainly important to understand the workings of the industry especially if you are an investor making many real estate transactions. For the agent, it provides a proven real estate model in which to set up your business. The book takes the overall view, looking not at too many specifics or specific situations, but more of the overall picture on how to create your business plan from day one.
Being a Realtor isn't a Hobby; It is a Business and it is yours!
So you want to be a successful Realtor, you have passed the test and have a license. Your broker gave you a desk (maybe) and a phone and said go out there and sell!!! This is your business and you have no idea (no training) on how to conduct it...read or listen to this book...follow the model! Read it, it will make you the Realtor that people want to do business with, it will make you the Realtor other agents want to work with and it will make you very successful.
Get Ideals in Unexpected Sources
From the first page, all the way through, I related to this book, and have profitted, during my reading this book.
"The Millionaire Real Estate Agent," is a great follow up to "The Art of Selling to The Affluent" by Matt Oechsli, because they are both thorough, entertaining, fun, focused upon the reader embodying a millionare mind set, and they both are written in a style that makes you, the reader, feel as though the author is having a face-to-face with you, as questions and "light bulb moments," arise.
Also, having read "The Millionaire Next Door," Stanley, and "Think and Grow Rich," by Napoleon Hill, it's great that Gary Keller has taken the step-by-step approach to guiding readers to acquire the millionaire mind set.
Charts in Keller's book are also so easy to follow, and worth adapting into your office Operations Manual, as a guide to keep you on course, towards your $1,000,000 net income goal.
The only challenge that I had in reading this book was asking myself, "If real estate agents do listings to be successful, what does listings equate to, in my business? Am I already doing the equivalent? If so, how do I quantify this into expected revenues?"
Usually, I like to power read through non-fiction books, while I take copious notes. And I like to reread great non-fictions, until there is nothing left for me to gain from them. But, "The Millionaire Real Estate Agent," was different.
There is so much to learn from this book, about being in, and growing your busines, that I wanted to savor ever "ah ha" moment. And there were many of those moments for me, in this book. This is definitely a book that I will reread, again, because by creating the systems in this book, I will be ready to go to the next business level.
I recommend this book to anyone who is in, or plans to be in business. This is also great for those who are in leadership positions, working for someone else.
A Business Guide Only!
If your looking for a book to teach you how to become a Real Estate agent, prospecting, scripts that work etc., then this is not the book for you. This book gives a model to follow, a business plan on how to run your real estate career as a business. It stresses how to think, what to think and how to stay structured as your business grows. There are no real practical ways shown on how to get business or any sample letters or practical advice that is proven, it just states that it is a numbers game, and you have to stay focussed and go for it. I was dissapointed in this book. The reviews I read about it were misleading. They stated that this is the only book you would ever need and it is the complete authority on becoming a real estate agent. It is not, as I stated it is just a business model not a teaching tool.
Made My First Year in Real Estate a Huge Success!
I found this book on Amazon when I was just starting out in Real Estate. I read many of the how-to books because I wanted and needed to hit the ground running in my new career. This book, by far, was the most information-packed and practical guide to starting a real estate business. (By the way, another excellent book is "How to Become a Power Agent in Real Estate" by Darryl Davis).
I am an attorney and before starting my real estate career, I had my own law practice; and before that, I had my own computer consulting company-both successful ventures. I approached real estate from a businessperson's perspective and this book definitely speaks to the serious businessperson. There are so many books and articles telling new agents where to spend their time and money that by the time the agent figures out what works and what doesn't, they have spent their entire budget and an entire year, and have not made enough money to move on. That's why 70% of new agents drop out of the field by the end of their second year.
This book helps agents, new and seasoned, stay focused on the bottom line. Moreover, it answered the most important question for me--If I need to generate $80,000 in income per year (salary, not gross commissions), what activities do I need to do and how much will it cost me?
So many of the other books and articles claimed to have the winning formula by telling you that you must knock on 50 doors per week and make 50 cold calls per week to generate business. Their theory is that it must be painful if you are to be successful.
This book, however, gives you lists of ideas and says if you do "x" number of activities from this list, you can expect to receive "x" number of transactions per year. YOU get to pick which activities you perform (if you don't like knocking on doors, pick another activity--it does not have to be painful for you to be successful).
The other books tell you that you must know a lot of people--friends and family--and that you MUST call and hound them in order to get business. This book, alternatively, says that if you do not know a lot of people (if you are new to an area) or if you don't want to call your friends and family and beg for business, you don't have to. It gives you the formulas so that you can determine how much marketing you have to do with the "people I haven't met yet" group to generate the same results as you would have with your "friends and family" group.
Using this book as a business modeling guide, I closed just under $3 million in volume in my first year; and just over $7 million my second year. By my 3rd year in real estate, I had already broke through the $6 million volume cap that many seasoned agents hit as a glass ceiling and cannot move beyond. My manager with my first real estate company (Long & Foster) was hostile to my business model because she didn't understand it and because I was taking control of my own career. She wanted me to follow her formula and she wanted me completely dependent on her for my success (even though she never provided me with leads!)
Then Keller Williams came to Maryland! (Gary Keller, the author, founded Keller Williams to empower real estate agents to run their own successful businesses). I joined Keller Williams and now I am surrounded by agents and brokers who realize that the business is mine and that the broker's role is to support my success. They do not believe, like so many other companies, that the agent's role is to make the broker rich. This is obvious by the fact that they offer one of the highest commission splits in the industry, without charging a monthly "desk fee," and they share the profits with their agents! And their entire culture is based on the "Millionaire Real Estate Agent" business models.
If you are serious about approaching real estate as a business, you must read this book.
Gary Keller understands...
"Gary Keller understands that to become a real millionaire, it starts with a change in your thinking. You must treat your business like a business with a focus on long-term profitability."
- Brian Buffini, President and Founder, Providence Systems, Inc.
This book presents a new paradigm for real estate...
"This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere."
- Robert T. Kiyosaki, New York Times bestselling author of Rich Dad, Poor Dad
Whether you are just getting started
"Whether you are just getting started or are a veteran in the business, this is the step-by-step handbook for seeking excellence in your profession and in your life.”
- Mark Victor Hansen, cocreator, #1 New York Times bestselling series Chicken Soup for the Soul®, coauthor, The One Minute Millionaire