Episode 97
Ready to become a top producing real estate agent? Joins us on today’s show as Adam Hergenrother talks about how to use leverage to enhance your time, money and energy.
After making $150 from a $500 investment on a car in college, Adam was hooked on the power of leverage. In 2007, he entered the real estate business by borrowing $,8000 dollars and, using the same leveraging principles he learned in college, Adam is due to hit $98 million in 2014 across his different brokerages.
Millionaire Mindset
Early in his lifetime, Adam learned that anything is possible in this world. The secret to achieving those goals starts with your mindset. Here are some takeaways for you to think about:
1. The #1 thing you need to succeed in life is a healthy mental attitude. After his first 90 days in real estate, Adam learned that success is 90% mental attitude and 10% mechanics after hiring a buyers agent to help him grow his business instead of doing it all himself.
2. Invest in yourself: Success-minded people see personal development as an investment while others may see it as an expense. After borrowing $8,000, Adam spent $3,000 immediately on real estate coaching. Like Adam, millionaires value personal development because it gives them the tools and knowledge to succeed in life no matter their financial circumstances.
3. Have no fear and a lot of gratitude: Imagine what your life would look like if you had no fear. Change your life to have no fear by taking control of your ‘absolute world’ as Adam calls it. By taking control of your inner world and designing your life to make you happy, you will always feel successful regardless of the material things in your life. Adam keeps his absolute world in check using journals where he expresses gratitude for different things in his life.
The Principles of Leverage
No one person can do everything. Using leverage, Adam is able to have his brand operate in multiple states and run various successful businesses. Here’s how to succeed using leverage:
1. Get rid of that scarcity mindset: Most people wait to use leverage after they have already started a task, and by then they may already be comfortable with the income flow. Always start out by finding someone who is best suited to do the job first and then hire them. This will teach you to live with less income as you start paying a salary from the get-go.
2. Be comfortable with delegating: Some realtors may find it hard to delegate tasks and use the excuse that they are comfortable doing all the jobs required from a real estate agent. This gets you tied into a habit loop that can be hard to get out of, limiting your reach and income potential.
3. Don’t be afraid to fire people: Not everyone who you hire to grow your business will be a good addition to your team. Don’t let the length of hiring a new employee scare you away from firing bad additions to your team that are dragging down your potential. Adam gives his new team members 90 days to meet their goals or finds better suited people to join his team.
How to Find Mentors and Peers
A big part of staying motivated on your goals and properly structuring yourself for success is being surrounded by like-minded people. Adam stays on his game by having billionaire mentors and successful peers all around the world. Here’s how you can do it too:
For mentorship
1. Find someone who is economically where you want to be in life and is living the life you want to live: The world is full of rich people, but not all of them are happy with their lives. Find someone that mirrors how you want your life to look monetarily, spiritually and personally.
2. Don’t be afraid to ask multiple times: The simplest way to get access to new mentors is to simply ask them to sit down with you, although it may take a few times. Persist, but be polite. Most of these people would love to sit down and share their experiences with you but have limited free time.
3. Provide them with value: One way to speed the process and get their attention is to provide them with value. Find out what they like or need and help them get there a little faster.
Peers
1. Go to events: the best way to find like-minded people is to go where they go. Find events in your city, country or internationally where you can meet people who share your passion for success. Today, you can use meetup.com or join masterminds in almost any industry.
Best Book For Agents
The One Thing by Gary Keller————–get a free copy of this book using our link www.audibletrial.com/superagentslive
Listen to it free on Audible!
