Many real estate professionals dream of building a million-dollar business. However, to hit that $1 million annual revenue mark, you need to have a solid sales system and abide by some basic good practices.
So, let’s get back to basics, shall we? Starting with the infamous “red book.”
The Millionaire Real Estate Agent (MREA) by Gary Keller offers a well-defined and easy-to-grasp model and systems to hit that million-dollar mark.
Keller recommends that real estate businesses follow the MREA Economic Model. In short, it’s based on three concepts: What goes in, what goes out, and what’s left over. In financial circles, those concepts are called income, expense and profit, respectively. The MREA model recommends that the proportions look like this:
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