https://youtu.be/-4Psj-o0RyQ
Highlights:
Duane's backstory. (2:07)
What intrigued him to get a license and make a change? (03:28)
The reason why he transitioned to real estate. (04:17)
What allowed Duane to earn $18.1M in his first year in Real Estate? (06:09)
How did he get 10 contracts during his first month? (06:44)
Did he have a clear & intentional plan when he started? (08:23)
Number of transactions that made up his $18.1M profit (10:51)
How did he take his first million dollar listing? (12:30)
Why he chose to be a solo agent. (14:51)
What does his team look like now? (17:15)
Did he follow the MREA book? (19:46)
At what point did he hire a real estate coach & what compelled him to do so? (20:19)
What's the biggest challenge that he's dealing with right now? (22:20)
Duane's goal this year. (23:24)
Struggles that he faced in having new agents onboard the team. (25:35)
What were the struggles that he faced in having new agents onboard the team? (25:35)
His focus in terms of numbers. (26:37)
Lead indicators that he is looking at. (27:37)
Monthly Client Appreciation Event (29:56)
Duane's “One Thing” (32:42)
Most impactful classes & books for Duane (33:33)
His advice to aspiring real estate agents (35:43)
Social media strategy (36:53)
Biggest Takeaways:
- Discover how Duane Richins sold nearly $19MM in volume during his first 12 months in real estate!
- Learn the challenges that he has faced & how he transitioned from being a solo agent to having his own team.
- Duane’s goals & “One Thing” for year tow in the business.
Real estate is a lucrative business, and sometimes takes years before an agent can build their business to sell $20MM in volume in one year. But, for KW Utah Region’s 2017 Rookie of the Year and KW Orem’s Duane Richins, he amazed everyone when he broke records and sold $18.1MM in volume during his first 12 months as an agent! So how did a newbie like Duane pull it off?
Before venturing into real estate, Duane specialized in Cardiac Imaging, having a degree in Radiologic Sciences. He also taught at Stanford before becoming a door to door salesman for security systems. His work in sales afforded him to start buying investment properties and that’s when he started to discover his passion for real estate. His experience with the agents he encountered lead him to believe it could be done better. He thought that there's a lot of need for someone who's willing to go out and hustle and go the extra mile and saw it as a great opportunity for him to dive into real estate brokering.
During his first month, he joined a prominent real estate team. During this time Duane tried to figure out what to do and got enough under contract from his efforts that he knew that if he wants to build the business the way he wanted to, he needed to leave and start his own team. Within a month and a half of being an agent he had capped from just simple hard work and committed to start learning the systems of a sustainable business.
So how did Duane sell $18.1MM in volume? He said he didn’t have an intentional plan when he started. He didn't know what he was doing but knew that at the end of the day, he needs to find people who want to list their home and that he needed to be different. So he got to work committing to make working the hours needed to and making the contacts to find those who were ready to buy or sell a home. Using his competitive & fierce spirit paired with his sales & teaching experience, he closed 89 transactions that first year, that made up the $18.1MM in volume.
In the first few months of becoming an agent Duane hired a MAPS Coach and with the guidance of his real estate coach,