There are three main roles in any business – the Technician, the Manager, and the Entrepreneur. This is no different in a real estate business or in an agents’ business within a business.
So, what does it mean to be one of these three roles? Continue reading, or watch my video below for a full explanation on the three main roles.
The Technician is the person who’s doing the prospecting, listing the properties, vendor managing, home opens, writing up the deals, and of course chasing those deals until settlement. The technician is the workhorse of the business, focussing on the tasks that need to be done and working on them one at a time.
The Manager is the person who is working on the business and not in the business. They are driving the systems, organising structure, managing the team – if there is one, managing the flow of the delivery of service in the business. The manager looks to achieve results through others, they turn the vision, into action.
Then, of course, you’ve got the Entrepreneur. the entrepreneur is the visionary. They are the ones sailing the ship and looking into the distance to see where the ship is going. Meaning they can change direction at any time and reinvent the business as needed. Entrepreneurs also spend a lot of time doing personal and professional development and taking time off to refresh and keep themselves absolutely charged and ready for the big decisions that need to be made.
The sad thing that I see in this industry is that 95% of real estate agents never get out of technician phase. The reason for this is very simple, they just don’t have a system and they have no structures in place to be able to do this. This results in running around in circles chasing deals, chasing listings, chasing sales, and spending very little time creating systems and getting structured within the business. Ultimately, if you are never able to get system and structure in your business, there is very little chance of ever becoming entrepreneurs.
In real estate, the entrepreneurs are the ones making the most money, living the most wonderful lives, having the most time off with their family and friends, and most importantly are the most educated in the business because they’ve got the most time for personal and professional development.
So how do we fix this problem, how can we be three people or three departments in one person?
It all comes down to how you allocate your time. The ideal model that I’ve come across is this:
- 50% of your time should be spent being a technician – prospecting, listing, selling, vendor management, negotiating, and making sure that when you are doing those, you’re spending 100% of your focus and time being a technician.
- 30% of your time is then spent as the manager – creating systems, driving the multi-layered prospecting system, creating structure, making sure the team have a system, job descriptions, ideal working weeks, and ensuring that everything is flowing.
- The final 20% of your time is spent as an entrepreneur. Spending the time thinking about where you’re taking your business, dealing with a few developments or other investments that you may have, looking at the new trends in the business such as technological trends and strategy trends, scripts and dialogues, as well as reinventing yourself and changing direction as you need it. Most of all you should be spending a lot of time learning and developing yourself to be an absolute brilliant real estate entrepreneur while allowing yourself more time off than you ever dreamt of with family and friends.
The big question now is, how do you learn how to do this?
Obviously, there are a few different options available to you, but the best way is to get yourself an A-Z, rubber-to-road, join-the-dots type system. Start with that and begin to build structure around that. Another great option is to get yourself a coach to help you build the system and make sure that you’re spending a certain amount of time as a technician, manager, and entrepreneur without getting stuck in the technician phase like 95% of other real estate agents.
If this is the path you are looking to go down, then register for my FREE 1-day Real Estate Intensive workshop where I will show you how to go from technician, to manager, to entrepreneur.