upside of being a business owner is that , if you can find a way to work smarter , outperform others , outwork others , and beat the competition with your superior service or product , you can earn unlimited income , as opposed to an employee ’ s set wage .
Even though the core advantage of owning a business is unlimited income potential , that has never been the part that got me excited . Sure , I like to make money . But I love to compete . I love to experiment . I love to create or produce something that helps others . I love to solve problems .
I was motivated to retire early so that I would eventually be free to choose how , when , and on what I worked . It was never about NOT working .
So after reading Retire Rich , Retire Young , I focused on what I wanted to do next . Later that year I found myself in real estate school , and I had already flipped one house .
I never had any intention of becoming a real estate agent . When I enrolled to get my license , I was focused on being a real estate investor . I signed up for real estate school just to gain access to the MLS , so I could work my own deals . I thought maybe I ’ d learn something valuable in the process . But the more the instructor talked about a career in real estate , the more excited I got about becoming an agent who helps others succeed in real estate . At the time , the real estate market was booming . I had previously worked with real estate agents , and the experience made me think : If they can do it , then I know I can .
Years before , when I attended college , I lived in a small town in California called Benicia . This town had a cute and walkable downtown lined with a variety of shops and restaurants , and I remember wondering why there were so many real estate offices . It felt like half the town must be licensed agents . I couldn ’ t quite wrap my head around why so many people would choose to work in real estate . There was so much competition . There were hundreds of agents that I , as a consumer , could choose to work with in that small town . It seemed absurd . I remember thinking that being a Realtor listed in one of those shop windows was the last thing I ever wanted to be .
It ’ s funny how life changes in unexpected ways .
Sitting in a classroom full of prospective agents , I couldn ’ t help but notice how different we all were . We all had different backgrounds and different motives for being in that class . I wondered who would be successful and who would not . The instructor told us on the final day that statistically in a room of 25 new agents , only four or five would remain in business after two years . This naturally caused everyone to look around and wonder who would make it . I didn ’ t understand yet why so few of us would make it . The job just didn ’ t seem that tough . I knew there was a lot of competition out there from other agents , but there was a lot of opportunity as well .
I got my license and became one of 4,000 agents working in my community of 400,000 people ( Boise , Idaho ). I knew only three local people at the time , and one of them was a real estate agent . I had just moved up from California , because real estate was more affordable in Idaho . I joined a national franchise brokerage , forwent all other job opportunities , and focused on my real estate career full time . I was full of optimism and hope . I figured that with my strong
Here is my family on a recent trip to Brazil . That restaurant was a local hangout in a town in the middle of nowhere . We ate like royalty with multiple courses . The total bill was less than $ 10 . Unbelievable .
work ethic I could work really hard and create a great career and business as an agent .
That was 10 years ago . I could fill a book with the war stories and craziness that transpired in those 10 years . Some day I will .
On paper , I am in no way the most successful agent in my community . Nor am I the most well known . I am certainly not the most profitable . However , I do believe I am building the strongest real estate business in my community . If you know me , you know that I am not just a real estate agent . I own my real estate office , Front Street Brokers , out of which about 20 agents operate . I ’ ve hosted a radio show about real estate and the local economy for the past five years . I ’ m in the process of finishing my second book on real estate . I have two podcasts in production right now , while also producing three magazine publications . My office is creating our own 501 ( c )( 3 ) charitable organization . I have a lot going on .
We all define success differently . Some agents or clients might look at all the things I do and wonder how I can be an effective real estate agent . My response is that I wouldn ’ t be effective if I wasn ’ t surrounded by the right people . With the right support , I can focus on out-marketing the competition with my real estate listings . I can afford to experiment with new ideas and bolder marketing plans , while my competitors focus on what they ’ ve always done .
I do make mistakes — lots of them . For example , a couple of years ago I created my own real estate newspaper and mailed it to more than 10,000 people every month . This took a huge amount of time , and about $ 7,000 a month to print and mail . I gambled that it would help me sell my listings and get new listings in the process . I tried this experiment for close to a year , and it failed miserably . I got one listing
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