MREA 2: What Have We Learned from The Millionaire Real Estate Agent?

Feb 13, 2016 6:52:17 PM

For more than a decade, The Millionaire Real Estate Agent has been on bookshelves. So, Gary Keller kicked off Family Reunion 2016 with a keynote to preview the forthcoming second edition.

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Together with Jay Papasan, Vickie Lukachik and Garrett Lenderman, Gary gave us an inside look into what his research team has learned since 2004. 

They focused on the top ten mistakes that keep most agents from becoming a millionaire.

Agents don’t become millionaires because they:

  1. Don’t think and act like a business person.
  2. Don’t think big with the end in mind.
  3. Don’t make lead generation their ONE Thing.
  4. Don’t build their business around a database.
  5. Don’t focus on listings.
  6. Don’t master hiring.
  7. Don’t manage their money.
  8. Don’t disrupt the competition.
  9. Don’t give back strategically.
  10. Don’t stay shifty (plan for market shifts).

Keller also spoke with a panel of agents, who have put the MREA’s teachings into practice, achieving high productivity levels in GCI, closed volume and units. Each agent shared their best practices and lessons learned with the audience, providing more input into the path of a millionaire real estate agent.

Key takeaways:

  • Focus on lead generation and hire the right people.
  • Leverage your business with a team of qualified people.
  • Build and nurture relationships with clients.
  • Get a coach.
  • Be passionate about your job.
  • Be resilient in the face of adversity.
  • It takes time, dedication and effort to create a successful real estate business.

Best AHA moments from the panelists:

“Focus on leads, practice your skills, like scripts and dialogues, and also have a positive mindset,” said Fred Weaver

“If you put your mind into something, you can do it,” said Tracy Lucido.

“You need to have the correct vision, models and systems, but you have to be patient. It doesn’t happen from one day to the next,” said Laurie Reader

“Online leads are a relationship. You have to take care of them,” said Tristan Ahumada

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