Real estate offers a ton of opportunity for growth and wealth creation, but it’s not without its risk, and often that stops more cautious would-be agents from getting their start.

While most successful agents would say the risk is worth the reward, taking the plunge can still be intimidating for new or part-time agents. Is there a way to get into the business while mitigating as much risk as possible?

How can we be more strategic in our approach?

In this episode, the Founder and CEO of Elite Advantage Team, Mike Swenson shares how to get big results while staying cautious.

 

Three Things We Learned From This Episode

• Advice for part-time agents looking to go full-time
  
  Anyone thinking about getting into real estate full-time should be going in with as much clarity as possible. Run the numbers in reverse, have an idea of how many transactions we’ll need to do, and know what’s at stake.
  
  
  
• Why we need to avoid pushing too hard, too fast
  
  One of the things that makes real estate so lucrative is the opportunity for repeat business, but we won’t see those benefits if we exit the industry too soon. It’s important to pace ourselves if we want the long-term advantages of being in this business.
  
  
  
• How to stop working harder and start working smarter
  
  Going into real estate without a strategy will only slow us down, so analyze every aspect of the business from a logistical standpoint. Before serving a particular neighborhood, consider whether it has a high turnover ratio and solid average sale price.

 

Guest Bio

Mike Swenson is the Founder and CEO of Elite Advantage Team and the host of the Real Freedom podcast. Growing up in a small town in southern Minnesota, Mike moved to the big city for college and earned degrees in Entrepreneurship (back before it was cool) and Financial Management from the University of St. Thomas. He started out working for a non-profit for a couple of years in their finance department before moving over to focusing on operations.

Looking for more opportunity & growth, Mike transitioned to working on the operations side of a real estate team. In his 6 years with the team serving as COO, he helped grow from a handful of agents and around 150 transactions (ranking 395th with their brokerage) to having expansion teams in 5 states and closing a total of 619 transactions (ranking 13th with their brokerage) and had the designation of being named the 31st largest team in the United States (including all brokerages).

Taking his love for Entrepreneurship, Leadership, and Systems, he decided to then launch his own team - the Elite Advantage Team - serving the Minneapolis/St. Paul and surrounding areas. Check them out on Facebook and Youtube as well.
Also, he has spent time as a coach (high school-aged boys basketball), has taught financial management courses, ran a finance blog, & even has had a license for life insurance. He has spent multiple years in coaching in his real estate role through their Breakthrough, Mastery, and Transformational paths.

To find out more, visit:
https://www.linkedin.com/in/mike-swenson/
https://www.relfreedom.com/
https://www.eliteadvantageteam.com/
https://www.youtube.com/channel/UCB7KiEHOrzJMyKUwBWgqX4Q/videos
https://www.facebook.com/mswenson13/
[email protected]
https://www.relfreedom.com/
https://www.relfreedom.com/blueprint