MREA Moment with Gary Keller & Jay Papasan

The Economic Model

Gary Keller and Jay Papasan, the authors of “The Millionaire Real Estate Agent” discuss how the Economic Model applies to the market of 2009

MREA Moment with Gary Keller & Jay Papasan

I just caught this video on YouTube and think it is one of the best videos Keller Williams has put on there.

Gary Keller and Jay Papasan, the authors of “The Millionaire Real Estate Agent” discuss how the Budget Model applies to the market of 2009.  This is based on the results of Gary personally reviewing the P&L’s of over 100 of our Top Associates.

When was the last time that you read the MREA?

Hmm… So yesterday I signed up for agent masterminds. The wonderful people with MAPS asked me what my GCI was over the last 12 months. Being as the I am a team leader, I do not sell. So I replied with “there are a lot of zeros in my production…”. Next thing I know I am in Gary Keller’s mastermind group!

So as I am sitting here with some of the most talented people in all of real estate, and is a great Q&A session. My greatest ah ha right now is that at almost every single question asked by the group, Gary is litteraly flipping open to a page of his book The Millionaire Real Estate Agent. It actually got to the point where Gary asked the group, when was the last time you read the MREA? Because I swear I wrote a book that answers all the questions you are asking.”

So this leads me to a question for you as much as me… When was the last time that you read the MREA? The answer should be very simple… NOW!

Do you mastermind?

What an amazing world that we live in! I am actually writing this blog post from my phone about 30,000 feet up somewhere between Phoenix and Austin. Pretty cool huh?

Anyway, I am flying down to Austin to join other Keller Williams real estate agents and leaders for the regular mastermind sessions. This is an amazing event where not only do I get to learn from some of KW’s top associates and leaders, but I get to catch up with them in a small setting.

One of the first things I realized in running a business is that you need to surround yourself with other like minded individuals. That said, one of the things that I do to make sure that I am getting the most value out of events like this is that I make appointments outside of the general sessions. I look for people that are succeeding in areas that I want to grow in and ask them to breakfast, lunch or dinner. Honestly this is where I get the greatest value out of most of my trips.

This week for example, I am having dinner on both nights with some of the top team leaders in the entire Keller Williams system. I am having lunch with Stefan Swanepol who is an industry leader in real estate trends. I also have a few more people on my target list to meet while I am here.

While I strongly feel the attending events like this are an incredible value, you don’t need to travel across the country to build a group of like minded people. Who do you admire for the results they have gotten in their business? Who do you admire for the balance that they have I’m their life? Why not call them and ask them to lunch or coffee?

After all, if you want to catch a cold, hang around someone that is sick! If you want to have success in life, why strike it out on your own when you can get a tremendous head start in 30 minutes and over a $4 cup of coffee?!

It’s not a recession, it’s a REVOLUTION!

I just caught this video on Twitter (thanks @anexemines and @tacanderson).

I think that there are a ton of great points to be made in this video regardless of what industry we are in, be it technology, real estate, etc.

The bottom line is that no one is going to save us and there is no magic bullet to climb out of this hole. Big companies will survive because…well, they are BIG. They will cut expenses (layoffs) and wait for the bottom. The problem with this is that the longer we wait, the longer we fall! If we don’t change the way we do things, the bottom will never come.

At the end of the day, the worst that could happen is that we do nothing. Take ownership, implement change and drive the revolution!