Justin Stoddart 0:00
Welcome back to The Think Bigger Real Estate Show. I'm your host Justin Stoddart, you know, oftentimes when I'm sitting down and meeting up with agents, I say the word system and they start to light up. And I think because real estate agents tend to be very excited about growth, very entrepreneurial consistency tends to be a weak spot of theirs. And so I'm more than excited today to have on a guest who is truly an expert, helping agents be consistent, put the systems in place to help them be able to have the life and business that they want. So I'm excited to welcome today, Lars Hedenborg. Lars first and foremost, before I give kind of a full bio on you, I appreciate you being on the show today.
Lars Hedenborg 0:37
Yeah, I'm looking forward to it. This is the one thing you know, I almost see sometimes the opposite effect. When I mentioned systems to real estate agents, they, they feel a feeling of overwhelming almost like what's a system like I'm not a systems person, you know, like enlighten me as to what a system is. So I'm looking forward to the conversation today.
Justin Stoddart 0:56
Yeah, very good. So for those that don't know, Lars, let me just give a little background him large section in your first year of business, close 71 homes, yet that came to come at a price it came being away from his family realizing like I can't do this forever, I can hustle for a year and prove the fact that I can sell a lot of real estates. But at the end of the day, you were short on time. And you wanted the ability to have both right to have success and significance a great work life and great home life. Continuing on large scale his business to where now his team produces over 100 million dollars a year consistently. And he's found some tricks some systems, to say the least, that have propelled him and his business to the next level. As a result, he's actually developed a whole school around this real estate B school BB and just the single letter B. I'm going to put that up here on the screen now. So any that are curious about that. I'm gonna put that up here real estate B school. We'll talk a little bit more about that. But Lars, I want to thank you, again for being on the show today is on the think bigger real estate, is a big thinker yourself. And helping those of us in the audience think bigger. So thank you again, for coming on.
Lars Hedenborg 2:02
Yeah, for sure. And you, you nailed it in the intro in terms of 2002, 2007, 2008, you know,
I was married in October 2006. We had our first child in November 2007. And I realized early on that every part of a real estate agents job like 90% of it could be done via a system and a lower level person, not in an ugly kind of way lower level. But let's scale right? Yeah, systems were out of the gate, I was just like, well, if I want to make my number was $250 an hour, if I want to make $250 an hour, for a full 2000 hours a year, right, I wanted to make at least a half a million to me and the government, there was 90% of it, I had to build out a system and have someone else run it. And systems are everything in the business, like anything that you do more than once a month is a system. And a lot of times, agents don't like this, I think it's that simple. You know, if you're doing something personally, and you're the real estate agent, and you're doing it more than, you know, let's say let's start with the weekly stuff, you're doing it more than 234 times a week, you need to put that into a document and make it so someone else can do it. And that really, for me, that's been like 99% of everything we do. And I just have a consultant role in the business now.
Justin Stoddart 3:22
Interesting. There is definitely a lack of consistency. You know, and I think again, when you as I mentioned before when you work with entrepreneurial people, entrepreneurial people, I believe move the world has the ability to change the world. The downside is that they tend to be very easily distractible, and their high performers and can produce very significant results for short bursts of time and oftentimes lack the organizational skills to be able to do that consistently, which causes them to not have the long term impact that they want. Let's talk a little bit about the systems that you think real estate agents need to start with, or one of the few of the big missed systems that you feel like real estate agents could really implement and have the most amount of impact.
Lars Hedenborg 4:11
Yeah, so I'm going to give like a, probably more than 10 seconds, but real big the business is our ability to attract buyers and sellers convert those into face to face and clients deliver a differentiated service. And then there are a few things in scaling the business. You know, creating your future, knowing your numbers and growing your team. So it's a little bit more complicated in scale. But when it comes to attracting buyers and sellers, what got us here isn't going to get us there. So you know, you better make sure you have your database locked down, and you're actually doing something of value on a regular basis where, you know, we'll do 3.6 million this year and 1.4 1.5
from a database of about 1800 people will come from that part of it and we spend, you know, we'll probably only spend about $30,000 to generate that amount of GCI this year, and a phenomenal
and it's all because we just preloaded what we do for in terms of social in terms of content in terms of events and giveaways. And it's run by someone who makes about 20 bucks an hour. And it's only part of that person's job for the entire year. And so but it's all pre-loaded. So every little we have 93 social things that happen in a given year, we have 57 sorts of content pieces that go out, we do an E-newsletter, and she just pings me when she needs a video or a market update or a funny video for my family. She kind of gets some some some leeway in that. But that's a system that runs and then we feed the database. You know, we as team leaders, especially we forget that our databases are really valuable. You know, that's a million dollar year over year pillar in your business. And are you adding Do you have a system to add two new contacts a day to your inner circle database? super simple, but nobody actually does it. I've yet to meet a team leader that actually focuses on the database on a regular basis.
Justin Stoddart 6:12
I love how you simplified that Lars. And I think again, the brightest minds in the business have the ability to take the complex and turn it into something super simple. And what you said is attract the business, follow up with the business service, the business, right, those are three. And the fourth was just the kind of ancillary systems, you need to actually scale a business. As I mentioned, it was second to the fourth.
Lars Hedenborg 6:33
Yeah, so I mean, so when we start working with the new, a new, a new client in the coaching business, it is really making sure they have the attract, convert, deliver rock solid, but in a way where they're not in it. So we need to attract folks to the business, convert them, and then deliver an amazing service in a way where there's probably 12 to 18 core systems and just those three pillars. And once we do that, then the team leader can focus on scaling. And scaling is making sure you have a solid three-year plan, making sure you know your numbers, and making sure you know how to grow your team, the culture stuff, the attracting new talent and those sorts of things. A lot of folks want to scale their business, but the attract, convert deliver is a complete shit show. And it relies 100% on them to have that a CD, you know, AC DC, attract, convert, deliver, you know, and then get it to get a commission check...
