Are you ready to become a top producing real estate agent? Today on the show we have Rick Ruby, a mortgage man and ‘personal trainer’ for real estate agents. Rick has a unique approach on making sure each and every single one of his clients more than doubles his or her income after joining his group. Today, we are going to touch on some of those gems and let you know how you can start using his strategies in your business.
In an industry where the national average is 2 loans/month per agent, Rick closes 165 mortgage loans/month between his 21 agents. Thats 400% more than the average mortgage lender in America can do on his own. The great thing is, he does this using a method that takes no money to start and is very simple to implement.
Rick’s Formula For Success
- Quality Over Quantity: Unexpectedly, Rick is able to close 165 mortgage loans every month by simply tapping into his sphere every week. Unlike other big agents,who spend thousands of dollars on lead generators, Rick teaches you how to build relationships with a small, but powerful list.
- Systemize: In order to succeed, you have to be able to make sure your team works at maximum efficiency. The best way to do this is to create systems for every aspect of your business that you can track and change when necessary.
- Stay Nimble: The more you grow the more difficult your business is to manage, and that affects quality. Stay small enough that you can manage your lists and make the most amount of money. Rick ensures his team keeps up with his growth by having 1 staff person per 3 transactions/month.
- Know Your Numbers: Most realtors, free from management, don’t know their numbers. Without a P&L statement it is impossible for you to know where you stand in your business and for Rick to coach you effectively. The first thing you need to know as an agent is your overall profit and expenses every month to see where you can improve.
- Accountability: Whether you are a team leader or solo agent, having someone to hold you accountable is crucial for you to reach your financial potential. However, not all coaches are created equal. Find someone, like Rick, who will custom tailor a plan for your situation and holds you accountable to those results, instead of a coach that gives out general advice to all clients.
The 5 Pillars To Have In Your Business
Rick attributes the success of his company to the creation of a system that has 5 pillars, each with varying importance and significance to your business.
First: A 50 Top-Client List
The most important part of your business is a list of 50 of the top clients you have had in the past. This can be people with money, connections or clients that were easy going. Once you have put your list together, you will make it your team’s objective to build a strong, fundamental relationship with them by:
- Calling 12 Every Week: The goal of this is to create a relationship with people you value the most. By calling only 12/week you are effectively touching base with each person in your list of 50 once a month.
- Showing Appreciation: Aside from the weekly calls, Rick recommends you take the relationship offline and have a Happy Hour every month for your list. This will show them how much you appreciate them and strengthen that relationship for future referrals.
Second: The 50 Favorite People List
In this list, you will have 50 of your favorite friends and peers. They can be doctors, lawyers, accountants, mortgage lenders or simply friends that have great connections. Following the same format as the first list, you will work this sphere with weekly calls and monthly get togethers to create relationship.
The Result? Using this method, you take your connections beyond a transaction and build a strong core of friends and fans, each of which can bring you at least 1 new lead/year. That’s 100 new leads every year just from your base. Rick has been working his list for 30 years and it consistently works for him as a strong lead generator.
Third: The 400 List
Just because most of your business will come from your Top 50 lists does not mean you should neglect the rest of your database. The 400 list will include up to 400 past clients you have done business with that you will also engage with on a less personal level. Sometimes, you will even find a new favorite to add to your Top 50 list!
Fourth: The Whale List
Much like the other two lists, the Whale List is used to build relationships with high profile individuals in your city. Make a list of the top 10 successful people you want to know and actively work to target this list. Why? Success comes from getting out of your comfort zone and surrounding yourself with like-minded people. By improving your network, success and opportunity will come to you faster.
Fifth: Advertising & Marketing
This is the last pillar, open to exploration. With advertising and marketing, Rick recommends you test out different mediums and find which one works best for your database. He currently sends over 1,000,000 videos to his e-mail list to test conversions and get more leads.
Golden Nuggets
- Be Trainable: Rick attributes his success to being trainable- over his career, he has been able to put his ego aside and understand that he is not the best. This has given way to having 10 mentors and constantly improving his business.
- Relationships are not about value, they are about contact.
Books For Agents
Watch Pay It Forward
Raving Fans by Kenneth Blanchard
Mr. Shmooze by Richard Abraham
The Worlds Greatest Salesman by Og Mandino
Get it free at audibletrial.com/superagentslive
Get In Touch With Rick
Visit: thecoretraining.com
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