Becoming the CEO of Your Business, with Jay Kinder
Episode 64:
Jay Kinder is a growth catalyst expert for real estate agents with EXP Realty. He’s also the CEO and Co-Founder of the National Association of Expert Advisors, a real estate coaching organization. He’s the co-host of the Face to Face podcast, and he co-authored The Miracle Morning for Real Estate Agents. At the height of his real estate career, he was closing more than 500 transactions per year! He now runs events where he teaches realtors how to double your business, and how to move from Agent to CEO. In short, Jay has done it all, and is a wealth of knowledge.
What You Will Learn:
- Jay’s journey into real estate and, eventually, entrepreneurship
- How Jay got a foothold as a new agent
- The systems and key hires that Jay made to push through a plateau
- How to maintain your personal brand as you continue to grow
- Why you should be establishing expectations with both your employees and your clients
- Jay’s advice for organizing yourself mentally as your business takes off
- How to take advantage of coaching through the National Association of Expert Advisors
Additional Resources:
Becoming the CEO of your Real Estate Business
Jay Kinder is a co-founder of the National Association of Expert Advisors, co-author of The Miracle Morning for Real Estate Agents, and the co-host of the Face to Face Podcast. He’s also a growth catalyst for EXP Realty. When it comes to Real Estate and entrepreneurship, there isn’t much Jay hasn’t done! From getting started, to closing more than 500 transactions per year, to building a team…Jay has faced his fair share of challenges, which ultimately inspired him to help others. Through coaching and live events, Jay now teaches realtors how to double their business, and make the transition from agent to CEO!
Like many of you, Jay sort of fell into real estate. It all started by mowing lawns of vacant listings for realtors during his summer breaks from college, which exposed him to the seemingly “effortless” work that agents were doing back at the office. All it took was one glance at a $5,000 paycheck to pique Jay’s interest. However, Jay quickly learned that the money did not come as easily as he thought!
From Beginner to Burnout
Once Jay got his real estate license, he hit the ground running and gave it everything he had. He closed 22 deals in his first year, 39 in his second, and it never stopped growing from there. Eventually, closing more than 300 units in one year, Jay found himself bottlenecking and burning out. Jay had a lot of success with listings, which helped build his book of business. But, until that point, he was doing virtually everything himself, and did not have any systems in place. He realized that implementing systems would be the key to pushing through his plateau. Before long, Jay was closing more than 500 transactions per year!
How to Push Through the Plateau
Most folks choose real estate and entrepreneurship in pursuit of “freedom and flexibility,” yet so few agents actually enjoy the freedom they were seeking to begin with. Without ever learning to leverage tools, technology, and great people, we find ourselves “surviving success,” trapped on the hamster wheel and racing towards burnout. For Jay, working long hours in the early years, while seeing his business grow, was fun and exciting. But as his life and business evolved, priorities changed, and he suddenly realized that he was a slave to his job. At the two-hundred and thirty deal mark, Jay could not possibly achieve work-life balance on his own, so he decided to expand the team.
Jay suggests identifying the tasks you aren’t good at, and don’t enjoy, and delegating them. For him, that included low-dollar productive activities and admin work. He also recommends building systems that mold team members to fit your vision. They need to know your expectations upfront, so that they understand their role in the big picture, and what they have to do to hit their goals. You also need to set clear expectations with your clients. Otherwise, you find yourself over-promising and under-delivering, which will only hurt your relationships
Summary
After you’ve achieved success and built your brand, it is hard to put boundaries in place. Your client relationships are the core of your business, and if you stay on top of those, the rest of these steps will help you grow. Remember that you are not a one-man army. Even the most successful agents will hit a wall if they do not have the essential processes and team members in place. If you want to hear more from Jay Kinder, make sure to listen to our podcast episode, Real Estate is a Team Sport, with Jay Kinder.