Digital Social Hour Episode #900: How to 10X Your Real Estate Career (Top 1% Agent Tips) with Johnny Richardson

Release Date: November 18, 2024
Host: Sean Kelly
Guest: Johnny Richardson

Introduction

In episode #900 of the Digital Social Hour, host Sean Kelly welcomes Johnny Richardson, a top-performing real estate agent based in Las Vegas, to discuss strategies for exponentially growing a real estate career. With a focus on actionable business advice, personal anecdotes, and insights into his remarkable success, Johnny shares his journey from closing his first deal before obtaining his license to managing a vast network of agents across multiple states.

Breaking into Real Estate and Early Success

Johnny Richardson opens up about his unconventional entry into the real estate industry. Before even securing his license, Johnny partnered with a licensed agent to close his first deal, showcasing his determination and business acumen.

• Quote: "I partnered with an agent. I said, look, I don't have a license, but I got a deal. So I partnered with him... the commission check showed up on my desk probably a week before my license, and I was off to the races." [00:01]

Johnny's aggressive approach paid off early on, closing 45 deals in his first year—a stark contrast to the national average of 6.7 deals per realtor.

• Quote: "If you're not closing 12 within your first year, I mean, you're not taking it serious." [02:37]

Navigating Market Conditions

Sean and Johnny delve into the fluctuating real estate market, addressing common concerns about rising or falling markets. Johnny emphasizes the importance of adaptability and maintaining a strong database.

• Quote: "A good real estate agent, as long as you have a database, people you're working with, you're very intentional. You're always going to do well." [00:37]

He discusses how agents should pivot strategies based on current market conditions, such as exploring investment opportunities, multifamily homes, or owner carry options.

Building a Successful Title Company

Expanding his expertise, Johnny founded his own title company, Clark County Title, just a year after its inception. By partnering with Magnus from Arizona, he was able to streamline operations and achieve profitability within 90 days—a feat uncommon in the industry.

• Quote: "We put that company in profits within 90 days." [03:51]

Johnny leverages his title company to host events that add value to agents, fostering a community focused on business growth and transparency.

Work Ethic and Personal Development

A significant portion of the conversation centers on Johnny's relentless work ethic and commitment to personal development. He shares his daily routine, which begins at 4:00 AM with training and extends into evenings filled with appointments, client events, and property showings.

• Quote: "I don't stop. And the reason why people ask me all the time, they're like, Johnny, like what's the deal here? Even my coaches are like, you got to slow down." [05:34]

Johnny attributes his success to continuous self-improvement, avoiding distractions like television, and immersing himself in educational content.

• Quote: "You're building a community. You're working with people. You're intentional. You're providing value." [32:56]

Expanding Beyond Las Vegas

Johnny discusses his strategic expansion beyond Las Vegas, managing 156 agents in Las Vegas, along with smaller teams in California and Miami. His approach involves training agents internally to prevent them from becoming competitors and maintaining a cohesive company culture.

• Quote: "Most real estate companies, a brokerage model, you're training your competition... We're training them internally within my team." [10:23]

Transition from EXP Realty to Real Broker LLC

Johnny shares his experience transitioning from EXP Realty to Real Broker LLC, highlighting the advantages of Real Broker's model, which requires agents to be active producers. This shift ensures that agents are consistently contributing to the company's growth.

• Quote: "On the real model you have to be a producer. So we bring in producers. You have to show you're actually selling houses in order to stay within and take all the benefits of the company." [13:22]

Adapting to MLS Changes and Commission Structures

The conversation shifts to recent changes in MLS commission structures, emphasizing the necessity for agents to demonstrate their value. Johnny explains how commissions are no longer automatically listed, placing the onus on agents to negotiate and prove their worth to clients.

• Quote: "You're hired for being the best negotiator. You're hiring for finding the best deals for your client." [28:55]

Johnny anticipates that only the most resilient and skilled agents will thrive under these new conditions.

Market Trends and Las Vegas Boom

Johnny provides an update on the booming Las Vegas real estate market, attributing growth to an influx of residents from other states. He notes significant increases in traffic and housing demand, predicting continued expansion.

• Quote: "We have 5,000 people moving here every month... We're blowing up." [26:53]

Negotiation Skills and Coaching

A highlight of the episode is Johnny's expertise in negotiation, which he cultivated under the mentorship of Brett Tanner. Johnny has successfully negotiated deals saving clients up to $500,000 and now extends his knowledge through coaching, helping other agents replicate his success.

• Quote: "I would say, as far as we have our wholesale department, that's like, a lot at that point... I've sold some of those deals where I save people 500 grand." [29:22]

Future Plans and Continuous Growth

Johnny outlines his ambitious plans to further expand his team by enhancing administrative support, allowing for greater scalability. He aims to double his transaction numbers in the next 12 months by optimizing operational efficiencies.

• Quote: "I'm going to add these components in, make this super thick, have 10 of these in the front line. We could double these numbers going in the next 12 months." [27:50]

Additionally, Johnny is investing in event spaces to host quarterly gatherings, fostering networking and professional development among real estate professionals.

Balancing Personal Life and Career

Towards the end of the episode, Johnny touches on the challenges of balancing a demanding career with personal relationships. Although he remains single, he emphasizes the importance of aligning with partners who understand and support his business-centric lifestyle.

• Quote: "My true love is my career. It is. I'm just, I love building it. Spending time doing what I want to do." [17:41]

Conclusion

Sean Kelly and Johnny Richardson wrap up the conversation by reiterating the key themes of intentionality, continuous personal development, and adaptability in the ever-evolving real estate market. Johnny's insights provide a blueprint for real estate professionals aiming to elevate their careers and achieve top-tier success.

• Final Quote: "If you have networking, you're building a community, you have a strong mindset, you're a quality person... you're going to be successful." [32:56]

Additional Resources

For listeners interested in Johnny Richardson's programs and services, he can be found on Instagram under the handle Johnny Richardson. Upcoming live Zoom calls and new platform releases are scheduled within the next 30 days.

Stay Connected:

• Instagram: Johnny Richardson
• Live Zoom Calls: Announced via Instagram and upcoming platforms
• Podcast Links: Available below the episode

Thank you for tuning into the Digital Social Hour. Stay tuned for more insightful conversations with industry leaders.