The key to success in real estate is not just being a great manager, but being able to manage people.
This video will teach you how to be a better leader by managing people well, assess their performance, and get them on board with your vision.
After all, you have to have the right team working with you to achieve your goals!
Transcript:
Danny Garcia 00:00
A lot of times, you know, we see agents that are producing 300,000 in gross commissions, and you know, we want to duplicate what they do. I think a lot of times that kind of keeps you out of focus, you kind of pull yourself out of what you do best. And that can keep you out of track. So, I would ask people, if you want to be productive, focus on what’s working for you.
Jamie Bounds 00:17
Danny is a 24 year old real estate veteran and owner of Live Texas. He started in construction, moved to banking and finance, and then got his real estate license in 2005. He’s also a real estate investor. We’re so glad to have you back. Welcome back to our show. And we can’t wait to hear about your goals.
Danny Garcia 00:42
Oh, no, thank you. Thank you. Thanks for having me again. How’s it going, Chris?
Chris Bounds 00:45
Going well. I know you got big goals. I mean, you’ve done a lot in your career. What are your goals for 2022? For your real estate business?
Danny Garcia 00:55
Well, I mean, the biggest thing we have going on right now ike, you know, you mentioned, we just started a brokerage firm last year. We’ve grown into 29 agents, we’re expanding to Dallas, possibly Austin in the next couple of days, just trying to equip all my agents, you know, a lot of stuff that you’re tackling right here is just growing people, you know.
I’ve always been one of those persons that likes, you know, working with people in depositing, you know, what I know, to them, so it’s giving me an opportunity to be there, and I’m really, really enjoying it, running the brokerage firm, a lot of challenges, but at the end, being this long in the industry, like, you know, we said construction, banking, everything. I mean it does a lot to, you know, be able to just give to these agents, and I’m really digging it. It’s been a lot of fun.
Chris Bounds 01:42
Yeah, well, I mean, if it’s not fun, you know, this can be a pretty stressful business. So you gotta have fun doing it. Enjoy the process. What do you do to keep yourself on track? Like, when you’re going through the year, it’s easy to get stuck in the trenches in the day to day problems that you have, and then, before you know it, it’s October 28. And you’re already starting to make Thanksgiving and Christmas plans, and then figuring out, “Hey, we’re the year go”.
Danny Garcia 02:11
Yeah, I mean, you know, bottom line is, my motivations is my family, you know, it’s always the, you know, why are you doing it? You know, and a lot of people get in this industry for the love of the money. Some people because they have goals, they have ambitions, they have different goals, they wanna reach. In my case, it’s a good leader, and I love what I do.
I started doing it when I was in high school. Like, you know, you’re mentioned, I was going around remodeling houses in Pasadena, two bedroom houses, three bedrooms, just kind of seeing you’re helping people change in their lives and everything. So that’s the big motivation for me in this industry. And I was still agents, you know, “Hey, set up some goals”. You know, why are you doing this? You know, why do you get in the industry, you know, and that kind of helps me keep on track and focused on why I’m doing this, you know, a lot of times there’s people who are in this industry, just because it’s popular, and they think the money is easy.
And then they look around, they wonder why they’re not doing very well, they really don’t have these wise, you know, why you’re doing it. And in my case, that keeps me focused 100%. I love what I do, you know, every bit of it. And the motivation is really, really what’s the factor that keeps me going.
Chris Bounds 03:20
That’s actually the very first, Jimmy and I have a book coming out next couple of weeks called “Top Tips after 100 flips”, that’s the first section. Why?
Danny Garcia 03:29
Okay. Yeah.
Chris Bounds 03:29
Because without that emotional, that makes money is never enough, because you can’t do it. Money has no value, you can’t eat it, doesn’t like make nice decoration. Like it has no utility outside of what you can exchange it for, and what you’re gonna exchange it for. That’s the emotional attachment.
Danny Garcia 03:48
Correct.
Chris Bounds 03:49
Which the number one thing you’re gonna change it for is time, that is the one on renewal resource. So I love that. In a leadership role, though, it’s not just about you, it’s about empowering the team.
Danny Garcia 04:04
Correct.
Chris Bounds 04:05
Which is always more challenging.
Danny Garcia 04:08
Correct.
Chris Bounds 04:09
That’s why it makes it so difficult to grow a team because of that, because if you can, if you’re an effective leader, being able to empower them and inspire them to achieve their goals and align those within the mission of the company, you’re not really gonna go very far. How do you do that? How do you get them to buy into what will actually set their goals and keep it up and make sure that they understand how to stay on track?
Danny Garcia 04:38
Well, one of the things you know when I talk to agents you know, I’ve been doing this for a long time. So I tell them I want to take you from point A to point Dantley. And I want to basically tell you what I’ve done and what worked, what hasn’t, what got me to where I’m at. So if I can kind of catapult you a little bit faster to where I’m at, that’s basically the goal you know, in helping them grow their business. And you know A lot of times, you know, we’re gonna have transactions that fall through and be able to be there to support them and encourage them.
And, you know, it happens, you know, and at the same time you get up and you move forward, you know. Like John Maxwell says, you know, “If you fall hit the ground, pick something up. It’s really that you visit the floor, learn from it.” And, you know, I just had two transactions ever going south, and I was able to salvage them had an agent, you know, running to a lot of obstacles, in on a transaction with a difficult Listing Agent and got involved, took her to the closing table.
And, you know, that’s basically the goal is saying, there’s gonna be a lot of challenges, you just don’t give up, you stay focused and make sure you’re doing all the right things to get you there and setting up goals, different CRMs. Things to keep them on their production that we’re utilizing. So, that’s what I’m kind of pulling down on them. Mostly the mentorship, I was still agents, when they start the industry, find a mentor. Find somebody who’s been there and done that because going back, there’s gonna be a lot of little gold nuggets everywhere you and I see on people saying, “Hey, here’s this, here’s this proven system”. Not everything works, you know, there’s stuff that works for me, that might not work for this other agent, right? So, find somebody who you can relate to, and actually have that support. And as you go along, you’re gonna find what you fit in and what works for you.
Chris Bounds 06:15
Are there any key leading KPIs that you’re tracking that are gonna help you stay on track? If we go back, I think you were on earlier when we talked about Moneyball. So the KPI for baseball, meaning getting on first base, now just hitting the bat and just getting up to bed, but actually getting on first base that was the leading KPI because once you did that, everything else kind of falls in line. It’s more or less testicle problem at that point. Do you have any leading KPIs that you’re tracking?
Danny Garcia 06:46
Yeah, I mean, honestly, I mean, we’re just on track. I mean, we utilize a lot of systems to track with people, and then our production levels and everything. You know, we get to start doing quarterly meet-ups and kind of see where the agents are at and where they’re going, you know, so we utilize different tools for that.
Chris Bounds 07:04
Okay, cool, cool. Any final thoughts on goal setting or productivity tips for folks out there? Here we go. I’m sorry, I lost you there for a minute. Yeah, bear with me. The bottom line is this, write it down, be realistic, you know, a lot of times, you know, we see agents that are producing 300,000, in gross commissions, and we want to duplicate what they do. I think a lot of times, that kind of keeps you out of focus. Because like, for example, I know people who aren’t good at cold calling.
There’s people who are good at relationship building, and if you kind of pull yourself out of what you do best, I mean, that can keep you out of track. So I would tell people, you want to be productive, focus on what’s working for you. So what I would say is go back in the last couple of months, three months or a year, and see what’s brought to the business and don’t reinvent the wheel work on that as you grow your business. And the little by little, you start implementing new systems into it.
Like for example, you start doing mail outs or start forming a community, but work on what you do best and as you start growing your database, obviously, start implementing your things. But that’s why I tell agents all time, everybody does business differently. I know guys who invest a lot of time in the office doing videos and it works. And that’s a goal that I’m trying to do as well, because obviously, that’s where it’s going. But I tell people, focus on what works and look back at your production.
Where did you get all your business from? And once you realized and target that particular area, then focus on it and grow it, because that’s where you’re selling the most. And then little by little you start implementing new things. Well, thanks so much Danny it was nice having you on. Look forward to catching up with you at one of these events.
Danny Garcia 08:42
Oh, definitely. Let me know Chris.
Chris Bounds 08:44
We’ll do it. Take care.
Danny Garcia 08:45
Bye. Take care.
Jamie Bounds 08:46
Bye. Thanks, Danny.