As many of you already know I am in the process of interviewing the top 100 Millennial real estate agents in the country for a book that I will be releasing later this year titled, “The Next Wave in Real Estate; The Secrets and Success Formulas of the Top 100 Millennial Real Estate Agents in the Country".
Doing these interviews has been fascinating for me and a lot of fun at the same time. Pretty sure I am learning more than anyone, so I wanted to share 9 of the key takeaways that I have come up with as we are about halfway through the 100 interviews at this time…
1. The formula for success has not changed - Every single one of these realtors I am meeting with works crazy hours. They don’t look at their real estate career as a job but as a business and they are committed to building it day and night.
2. There is power in having a routine - These agents have committed themselves to following rituals so that they don’t have to talk themselves into going to work every day. They turned their “shoulds” into “musts” and took the option away. They have fallen in love with the repetitious boredom as my mentor Mike Ferry used to say.
3. They don’t party when they should be working - Similar to my own success, they key for these agents is that they aren’t wasting their 20’s and early 30’s partying the nights away. I have always said that if you work your ass off in your 20’s you can enjoy the rest of your life with some financial certainty. But if you play all through your 20’s then you will struggle financially for the rest of your life. This has been heavily validated interviewing these agents.
4. They seek out mentors - I would say around 85-90% of the agents I have interviewed have a mentor or had a mentor help them when they first started out in the business.
5. They invest in real estate - These agents are all using the profits from their careers to buy real estate. Every single agent I have interviewed owned at least one property and most already had a large investment portfolio. Start investing now while you are young and by age 55 you will have 10’s of millions of dollars all paid off in real estate holdings.
6. They have a positive attitude - One of the questions I ask the realtors is, “Tell me a time you failed, what did you learn from your failure?” and it has been crazy the stories I have heard. Each of these 100 top millennials has failed miserably at some point! But they aren’t failures because they learned from it, they got up, and they went back to work.
7. They honor their profession - These top agents are proud to be realtors. They take pride in their jobs and are working to be better at it every day. I was impressed especially with how much these agents invest in themselves to better themselves and work to be experts in the real estate industry.
8. They know how to delegate - A common mistake that new agents make in real estate is trying to be all things to all people. But the top agents have learned very quickly how to build a support team around them so that they can focus on what they do best.
9. They look for opportunities - One of the biggest advantages of being a millennial is that they aren’t interested in doing what has always been done. They are open to change, to ideas that come their way, and they are adaptable to something better when it comes along. This versatility is helping them build businesses in a few years that otherwise has taken experienced agents a lifetime.