← Massive Agent Podcast
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- [00:00]
Dustin Brome
Most sales teams in real estate are built the wrong way because we're taught to build them the wrong way. Well, today's guest, Eric Hatch, is going to show you the right way to build a team and why. The way that the vast majority of teams in this industry are set up is completely wrong and they're set up to fail from the beginning.
- [00:17]
Eric Hatch
The Massive Agent podcast, we lead generation tips and strategies to get you more leads and sell more homes.
- [00:25]
Dustin Brome
I love to buy houses. I like to sell houses.
- [00:28]
Eric Hatch
It takes brass balls to sell real estate. Wait a minute. Leads are weak. You're weak.
- [00:34]
Dustin Brome
I've had better.
- [00:35]
Eric Hatch
Better. Oh, have I got your attention now? Here's your host, Dustin Brome.
- [00:44]
Dustin Brome
What's up, guys? Welcome to episode 380 of the Massive Agent podcast. I am your host, Dustin Brome, here in Salt Lake City, Utah. So excited for our guest today, Eric Hatch from Hatch Coaching. He's the CEO of Hatch Realty and he is one of the foremost experts, if you will, on team building the right way. So he's going to, he's going to go through the process, who to hire first, then second, then third, how to compensate them. He's going to go through that. And I bet it's not what you're expecting. I bet that what you're going to hear from him is a completely new perspective on team building that you have not heard before. And I freaking love it. And I'm excited for you to hear it because, I mean, a dirty little secret, most of the teams that you see on the Real Trends list at the Wall Street Journal list, they're not even profitable. Or if they are, it's only because the team leader is still in production and most of the team's production is done by the team leader. So there's, there's just a lot of mental, not mathematical gymnastics being done to, to, you know, to make teams look like, oh, they're making all this money they're doing. Not necessarily because a lot of these teams are revolving doors. The agents on the teams are not making a good living. They're not earning enough income to support themselves, so they have to leave and go elsewhere. It's just, it's just a broken model. Eric Hatch has the solution. I'm super excited for him to be on today. Let's get into it with Eric Hatch without. Let's not beat around the bush anymore. Let's teach you the right way to build a sustainable team that your team members will love. And it. So, Eric, a little spoiler alert. One of his. He's had a large team for about 12 years now. There's been agents on his team that are selling over a 100 deals a year and, and they stay with the team. So some of you are probably like, how is that even possible? Like, why would they do that? Why wouldn't they just go out? Why wouldn't they go out on their own? Well, pay attention, you're about to find out. Let's bring on Eric Hatch with Hatch Coaching. Right now. I am here with Eric Hatch, the CEO of Hatch Realty, the, the owner of Hatch Coaching, one of the best team building business building minds in real estate, in my opinion. Eric Hatch, welcome to the massive agent podcast, my friend. How's it going?
- [02:53]
Eric Hatch
Well, once you said in your opinion it just like chopped me down a little. It could have just been the capital. True statements like this guy is a triple threat. He's the Justin Timberlake of real estate. I could have lived with that.
- [03:03]
Dustin Brome
But, well, I think it would pass a fact check so we could just count it as fact.
- [03:08]
Eric Hatch
So I love it. Hey man, so good to be here, bro.
- [03:11]
Dustin Brome
I'm glad you are. I've definitely been obsessed with over the last couple years helping agents to see themselves as an entrepreneur who, who should be building some type of business and not just owning their own. And I know you see the world the same way. You, you have a great sales team, a great team ridge and brokerage and, and you teach others how to operate sales teams and businesses at a high level. So there's no better authority. I get asked this question the most, Eric, when am I ready to build a team and who should the first hire be? What would you say to somebody like that?
- [03:48]
Eric Hatch
The first thing I would say, Dustin, is like, do you really want a team? Because, because I think that's what so many people are lulled into thinking is I should have a team and the team is going to be my solution. Here's what people think is the team is going to get me time and the team is going to get me money. And that exists in like chapter nine of building a team. But chapter one through eight are running around eating in your car for all three meals a day and not sleeping and pulling your hair out and wondering why are these mouth breath space taking agents not able to convert like I can? And you just bash your head against a window and you say why, oh why? And you cry and you sob and you wonder does it have to be this way? And I will tell you, if you're trying to build a traditional team the way in which the red book years ago taught us how to build. I think those traditional teams are all but dead. If you are doing that, show me your P and L. And I'm not saying that you do this game for money, but if you don't have a healthy team, you don't have oxygen in your lungs. If you don't have a healthy business, you're doing it all wrong. And so show me that your team, if you're paying yourself the same commission your agents make, show me that there's profit after everything else. And if you can, show me that you have a healthy profit of 15 to 30%, you get the thumbs up from your boy Eric. But 99 out of 100 teams that I see have a bunch of agents that are converting worse than the Rainmaker kin that are unfortunately costing you so much. And the Rainmaker's production is then going down as well because they're spending their time trying to help these agents out. But because they're distracted and chasing two rabbits, they're catching none of them. So let me first say, if you are going to do a team, please, there is one simple way to do it. And this is a blueprint. I literally wrote a book called the Perfect Real Estate Agent blueprint because there's a bluepr you should follow. It's not the standard team of yesteryear. It is the way in which business should be done today. So if you are going to build a big team or if you just want a small little micro team, this is the way. So, number one, you hire an admin. And the question is, when do you hire an admin? And like, can they be virtual and can they be part time? And let me say this, if you're in a standard market, the standard market in the United States has an average sales price of $440,000. That was roughly the average sales price in 2024. So if you're anywhere north of that by a hundred or 200,000 or anywhere south of that in like a, like a 200, 000 bubble on both sides, I call you an average market. If you're in New York City, wherever, sales price is like $4 billion. Please, I'm not talking to you. Just borrow me some money. That's all I need. But if you're in a standard market, my guess is when you hit 24 to 36 deals for your own personal production, something starts to give. You're either losing some quality of life or you're not able to serve your clients the way in which they deserve or you're not converting at the level that you think or you want to convert at. And so something has to give. And I think that the move is to hire a full time in person admin. That's three very important parts is it's not an agent first, it's an admin. And they're full time and they're in person. Because this person is both your business assistant and your personal assistant. When your cat needs to go to the vet, that shouldn't be you, that should be your assistant. When you have a transaction to coordinate, that shouldn't be you, that should be your assistant. When you have a box to run to, a house or a sign to put in the yard, that shouldn't be you, that should be your assistant. This first person takes all of that low dollar income producing activity off your plate. And here's what happens Dustin, almost every time if you hire the right person, you're going to see that your transaction count goes up by 10 to 20 transactions. 10 to 20. If you hire a great admin, their full time work of 40 hours a week is taking off 15 to 25 hours of your work. When you take that time off and remember, you don't get 40 for 40, they don't take 40 hours of work off because you're sloppy, you're fast and you're inefficient. They're going to actually do it right, they're going to do it with care and there's a lot of nuanced pieces that need to be done and they also don't run at the same speed that you do, thank goodness. But when you hire this person and you do 10 to 20 more transactions, all of a sudden now you will get a 4 to 1 at minimum return on your investment. And poof, you take that time that's afforded back to you and you reinvest that. You can use that to rest. But in this phase, most people, if you're hungry, you use that to rebuild. You take that to do lead generation, you take that to convert more business, you take that to shake more hands and kiss more babies. Where all of a sudden now your 30 deals a year are now 45 deals a year and you're bringing in so much more gci and the only cost you added was the cost of a full time in office admin. That's higher.
- [09:09]
Dustin Brome
Number one, tell me about how you pay this person. And, and by the way, are we assuming that you already have a transaction coordinator to handle the admin stuff for your deals?
- [09:18]
Eric Hatch
I, I Believe that the in person admin should be doing the transaction coordinating. Most people are paying 400ish bucks and if you're doing 40 deals a year, that's $16,000. Sixteen grand. I think that you're going to pay this admin a nice living wage, 40 to 50 to $60,000. Again depending on your market. You pay them 40 to 60 and sometimes you get what you pay for and so that they'll take off that $16,000 transaction coordination expense and then I'm going to put them on payroll. You can also have them ten $99. But why I love someone who's on payroll is because you're now operating with a salary and you're now operating with some clear standards. And yes, you're going to have to pay some payroll taxes and some other things. My administrators that are in my world, I give them health care and I give them matching 401k because I want them to have a great life. And I gotta go and sell one or two more houses or I gotta go and bring on one or two more people to my mastermind for coaching that pays for that. And so I have to have that pressure to put that person on my payroll. And here's the narrative that's going on right now, Dustin, for people is oh my gosh, I can't afford that. How am I gonna pay a $48,000 a year? 4,4000amonth? How am I gonna pay 4 grand a month to this person? And I need you to make sure that before you hire this person, not only are you producing enough to need an admin, but you have three to six months of personal and business expenses in your savings account. So you make sure that if no homes sell, if you have an oh crap season, well, you don't have to just immediately fire the person after 30 days because you've planned for what's to come. We have to get much more responsible with our money, Dustin, and most realtors are trash with their cash.
- [11:10]
Dustin Brome
I cannot disagree. I think it's one of the biggest weaknesses we have. I mean, just to go off a little tangent and I'd love your thoughts on this. I think that getting financially sound is the one of the best things you can do to be a great real estate agent. Because if you're not, you're, you can't help but guide people and like wanting them to move a little bit faster than they should or you're a little bit needier in a conversation than you should because you need a closing. I think getting financially Sound is, is a great way to produce more.
- [11:43]
Eric Hatch
Chasing the transaction count is chasing a participation trophy. I have an agent who I love. He used to be on my team. This guy could outsell anybody, literally on my real estate team. In his best year, he sold over a hundred houses as a buyer agent. He had, he had an agent partner with him, but he, he sold a ton of houses and he was willing to discount his commission to just get the deal done. He was willing to not collect the transaction fee because he's like, well, no, it slows down the conversation. So he paid it out of his pocket to me every time. And then he got the deal done and didn't have any client care after the transaction. And so literally, people, people sacrifice their money when it comes to Zillow, when it comes to expensive lead sources, when it comes to sometimes cutting your commission because you think, well, I'm going to have this client for life. But if you don't have the care to slow down and love on these people. And I'm not talking about automated emails and newsletters and client gifts. I'm talking about relationships that stand the test of time. I'm talking about being in those people's lives. And you won't have the time for that unless you have the administrative support for that. So literally until you figure out the financial model, you're just chasing trophies that will dissolve the moment you let it go. And that's what happens with so many people's businesses and they gots to do better.
- [13:10]
Dustin Brome
Well said. I love that something, that something that I heard you say a while ago, it's, it's now completely slipping my mind. So I'll come back to that. But so if you have the full time admin in person, ideally, the next hire is then a buyer's agent.
- [13:26]
Eric Hatch
No, no, no, no, no, no, no. The next hire is admin number two. This time I think you can go virtual, which saves you a bunch of cash. And you aren't the leader for this person. Your first admin is the leader for this person. This person is the, the very first admin. The in person. They help you to breathe. They take everything off your plate that is minutia killing this second admin. They help you to grow, they help you to market. They check off your honey do list of like, man, I dream of once getting here. I'm going to do this incredible client care. I'm going to do this great set of videos and I'm going to push all this stuff out. Like they're now an accelerator for Growth where the first person is an accelerator just to have you stay in your lane and for you to breathe better. And so that's now a two headed monster. That's two full time admin. The first one's probably 4k a month using again made up numbers. And the next person is 1k a month. And so if you need a 4 to 1 return on investment, you only have to sell an extra four to five houses with the average sales price in order to justify this next person. But now you have two team members working for you and with you 80 hours a week. My gosh, does your quality of life improve? Because so many people, Dustin, are rich, but not wealthy. Even if you're good with your money, you might be rich and you got a lot of cash. But wealth is a combination of cash and time in the right kind of environment. And I know a lot of people that are rich in money and broke in time. And I've lived that life and that is an empty life to live. I value time more than I value money. But I need both in order to accomplish the goals I have in life. And so the administrative support as the foundation of your business, right, you got to go deep before you go wide. And the deep is all building up a monster program, a micro team around you, the producer. Please hear that again. A micro team, not a mega team. A micro team around your personal production. And that leads to the third hire. And you might be saying, dustin, hey, that's now the buyer agent. No, no, no, no, no, no, no. Hiring a buyer agent is silly and stupid and dangerous and bad and wrong. It's wrong. We've been taught wrong and I'm tired of it. Look at this. I'm all fiery and sassy. I'm a nice midwestern guy. I'm full of icy areas right now, Dustin, because people shouldn't hire a buyer agent. Here's why. I'm a friggin great realtor. You give me five quality leads, each one of them worth 10,000 bucks of commission. You give me five quality leads, I'm gonna, I'm gonna crush all five of them, right? It's my sphere. It's somebody I picked up at an open house. And it's a referral. And like I'm gonna kill all five of these. That's 50 grand in commission. But here's team building 101 and it's wrong. Well, if I just hire a buyer agent, I'm going to give them those five quality at bats and at a 50, 50 commission split, they're going to make 25,000 bucks and I'm going to make 25,000 bucksand I'm just going to hire 40 of them and I'm become a millionaire. I just need 40 of those buyer agents and millions of dollars are coming my way. But Dustin, the person who says yes to being an agent on the team is usually a new agent. They maybe have the potential to be a superstar, but when you're new, you're not very good. And so are they going to close all five of those? No, they're not. And they're not going to close four or three. They're going to close one or two. Right. Would you agree they're going to close one or two of those five?
- [17:20]
Dustin Brome
Yeah, I think that's generous with, with some people.
- [17:23]
Eric Hatch
Well, we'll, we'll at least say that they close two. So they now make $10,000 and I'm air quote make $10,000. But honestly, I just lost 40 grand. If we look at that differently, they made 10 and it took them six months to make 10,000 bucks. What quality of life do they have if it takes them six months to make ten grand? What stress is happening in their world? What doubt what Uber driving and delivering for doordash is happening and taking them away from the main thing? We gotta change this 87% failure rate in this industry. It's my fault. It's your fault. Because what we've done is we built people to fail because we throw them to the wolves before they're ready. A hundred hours of education for real estate when you got to do like 900 hours to do mannies and petties. Like, come on bro, we got to do better. And so the education needs to come where they can earn while they learn. Do not hire a buyer agent. It's irresponsible. If someone wants commission, they're one of five people. If they could actually have a commission life, they have a sugar daddy or sugar mama. That's number one. Number two is they have a trust fund. Number three is they have a full time or part time job. Number four is they have terrible spending habits and are about to go into six months of debt. Or number five is they have six months in savings and they can actually be a full time commission realtor. And so think about who we're looking to find success from. And then we give them suggestions and we don't give them blueprints and we just throw them to the wolves again and they fail. And guess what? That costs us exceedingly more than it ever would Cost us if we would just do this blueprint model. And so the third hire, Dustin, is this after you go full time administrative, full time va is you go full time agent partner. An agent partner in its purest form is a salaried agent who earns a small commission on the deals they help to convert or the deals that they touch. I'm talking you're paying this person 36 grand a year, like three grand a month. You pay them just enough so that they can function. But now when they're an employee, when they're W2, I can control their 9 to 5. And Dustin, if I can get somebody to show up because it's their job every day, and they sit by the side of the master, all of a sudden, their chance of success is ridiculously increased. So they come in and now they're leveraging me. Those five deals that I talked about, let's say it takes me two months to convert all those. I just paid six grand for salary. And then if I pay 5% to them for the deals that they touch, and they touch all five of those, if I pay 5%, that's 2, 500 bucks. So they make $8,500 in their first two months as a realtor. Is that good? Yes or yes?
- [20:38]
Dustin Brome
Yeah.
- [20:38]
Eric Hatch
Yeah. Are you kidding me? Do you have any idea how. How little new agents make? They make jack squat, right? But they're gonna make 8, 500 bucks in this mythical scenario. They're gonna make 8, 500 bucks their first two months. How's their education going to be working alongside me and my clients? Good or great or fantastic? Like it's all those things, right? But guess what, Dustin? I just kept 41 $500 in my pocket. I kept 41 grand. If I hire a buyer agent, I keep 10 grand. They have a crap life because their 10 grand comes over six months. I'm gonna get them 8, 500 bucks in two months. And they have stability and they have a better education. And guess who else wins is my client wins. Because I don't just throw them the new agent. And I hope and I pray that they find their way. Instead, I give them me and my new agent. They get we. They get two for the price of one. So my clients win. I'm not doing showings on nights and weekends. I'm just negotiating. I'm the doctor. I'm there for surgery. I'm getting them under contract. I'm dealing with the tricky stuff. But everything else is done by the agent, partner, by my nurse. And so my clients win. I win because I'm making buco cash. I got time back in my life. And then this new agent has a blueprint for success, and they can't leave that job until they graduate. So that means that they got to earn it by time served, by competency shown, and by number of deals they actually convert. This is how you build a team. Stop building it by just hiring agents and expecting them to convert like you can convert. It is bad math. Seven days out of seven, and you gots to do better.
- [22:23]
Dustin Brome
I love the spicy Eric, by the way. It's a great Eric. And this perspective is rarely heard in the industry, which is why I'm so glad that it. We're putting it out on the pod today. There's another. Another part of the. The conversation that I've seen happen, which is part of this, like, hey, like, you're not ready to hire a buyer's agent. I'll see somebody take a bunch of work, push it off onto a buyer's agent's plate. And they've only hired one. So three months go by, six months go, whatever, and eventually that agent leaves. They don't want to be part of the team anymore for whatever reason. And then all that stuff that got that was off your plate gets dumped back on and it blows up a business. So talk about that. In. In this greater conversation of, you know, buyer's agents, or agent partners, as you.
- [23:15]
Eric Hatch
Call them, I would ask the question of why does somebody leave? Why does an agent leave? Sharon says that it's because they've run out of Runway or they don't have a future with you anymore. I think that if we lose proximity with our people, it is the fastest way for them to leave if we stop spending time and investing in their future alongside them. And so what happens with agents is, and you may be too young to remember this, there used to be this infomercial that I watched as a kid. It was called the Ronco Food Dehydrator. And so they would put in all these meats and these fruits, and they would say, listen, you just put in. Put it in at night, and in the morning you wake up and you have delicious dried strawberries and beef jerky. And so you just set it and forget it. And most people think that hiring agents on their team is the Ronco Food Dehydrator. They think they just have to set it and forget it. They think that training is something that happened and doesn't happen consistently. They think that leadership and hiring and pursuing your people is something that happened. It's something that actually has to happen every single time. And so why will an agent leave you? It's because they don't see a future with you. It's because they've lost proximity with you. It's because you stopped caring about their future and you stopped holding them accountable to who they said they were wanted to be. And so we have to, as leaders, do better. So if you're going to go and hire some buyer agents, are you willing to do what it takes in order to help them find their success? Here's I've been doing the team game for a while now. I started my team in 2012 and was given the gift of imploding my team and getting kicked out of my brokerage in 2013. Here it is in a snapshot. I was a KW agent and my first year in real estate full time was 2011. I sold 52 houses. Sphere referral open houses. I was grinding 52 houses. No agent partner, no docusign. I was just hustling. And so I did what I was thought I was supposed to do and that was start a team. And so I hired four agents and one admin and by the time the year was up, I was a team of 13. And I bought a bunch of Tiger leads, which was just early Internet leads. And I hired people quickly. I trained them by saying, watch me. Check it out. Watch the master at work. And I love golf. Do you think that if I watch Tiger woods golf that it makes me a better golfer? And I'm not, I'm not Tiger woods of real estate. But do you think that as a team leader if you just say watch me and that's your training, you think that's actually going to get somebody better? Because it's, you're fooling yourself. But I just told my people, hey, watch me. And then I threw them a bunch of Internet leads that I didn't even know how to convert because I built my whole business on my sphere, sent him a bunch of Internet leads and I had them work open houses and they picked up some open houses which was good. But ultimately the year finished and we sold 192 houses my first year as a team. 192. But I was 113 of those. And so I didn't give anybody a better life. I. I gave them my table scraps and I hoped that they would find a way. Hope is a great thing to have, but it is a terrible business strategy. And when I was given the gift of starting over, here's what I did is I said I got to do this different. And so I was down to, to three people on my team, myself and an admin and an agent. And we rebuilt from there. And now I've gone on to sell over 7, 000 houses in the last decade. And as we did it, my per agent productivity became my North Star. It was the only thing that mattered to me was what can I do to have these agents have an incredible life? Because it was no joy of me making a bunch of money if I was the only one making a bunch of money. I'm in this business to change lives and my life is one of them. But if I'm the only if, if I'm just focusing on me, that's a crappy business model. And so in, in our best year, I had 19 people make six figures in Fargo, N.D. 19 people. My per agent productivity averaged over 30 deals per agent. From new agent to season agent, we averaged 30 deals per agent. We sold 10, 24 homes. We had a nine and a half percent market share. And that all came to be because my agents were crazy trained. I'm not talking about that cheesy song Crazy Train or that crazy band Crazy Train. I'm talking about my agents were crazy trained because every day we did the damn thing we Whether it was one agent or 10 agents, if you want to train one, you can train 10 at the same time. It's the same energy that goes into it. But the group became accountable to each other. It was iron sharpening iron. They were role playing in real time. They're listening to calls in real time and then they're practicing and they're critiquing each other because it's not just set a video and walk away. Most team leaders are so damn busy that they become unintentional, terrible leaders of other people and developers of other people. And we had to treat this as the main thing. The main thing was PR agent productivity. And so if we keep that at the North Star, that we're there to change other agents lives, my world changes because of it. And so the secret to all this, the secret to everything I know about building a team, is that we have to figure out how other people win. And if we hire fast and train light, I have never seen those people win and have big lives.
- [28:45]
Dustin Brome
Those are the revolving door teams that we, that we all see, right? Focus on agent count.
- [28:50]
Eric Hatch
I feel like Johnny Moxon in Varsity Blues that says, I don't want your life because I don't want the life of the revolving door Agents. I want people's worlds to be changed. I want empires to be built. And of course, I want them still on my team. But if they don't feel that that's still the spot, like, I still want to watch them win. I still want to be a chapter in their books. And so that's. That's my team jam. And I love it. And I'm fired up for it. And I. I want to do everything I can to try to help people to. To live that better life. Because when I finally figured out this model of a team, I figured out how I could keep a ton of cash for my own personal production. I figured out how I could give people the greatest chance at life. How do you think those agents. How do you think I had an agent do a hundred deals a year? He started as an agent partner, and he got his MBA in real estate before he ever actually went on his own. His story is so fun. His name's Tyler and he was working three jobs. He was a paraprofessional at a school. He was doing some sort of like uber eats type thing, I think. And then he was doing ministry at church on. On nights and weekends. Scrapping together to make like 30 or 35, 000 bucks a year. Scrapping together. And when I offered him this job, within two years, he was making six figures. And then he went on to make a half a million dollars as a realtor and an agent on the team. It's unfathomable for me.
- [30:14]
Dustin Brome
Incredible. So obviously, at some point there's a transition from agent partner to, like, agent on the team. What does that look like?
- [30:25]
Eric Hatch
So if you want to graduate off the micro team or up the micro team, you have to qualify. There's three boxes you have to check. Box number one is time served. I say at least a year of commitment as a salaried agent. Number two is you have to show that you got. You got that dog in you. You have that ability to convert enough deals. And so either from your own sphere or from referrals or from you working in the database or working open houses, you can bring in at least 10 deals. You help to convert at least 10 deals. Because why would I let you go and fail as a realtor? If you can't do this under my watchful eye and my training and my schedule, like, do you really think that you're going to be more strict on you than I am on you? No. Like, you have to earn the chance to graduate. And then number three is actual shown competency. That's the only thing that's not a black and white and that's left to a judgment piece that's really just there as kind of a protection clause. And they get out of jail free and so they can graduate off the team to actually be that buyer agent that we talked about. And that's how they're going to convert five out of five or four out of five of those and all make great money. And they'll make great money and it's a big win across the board. Or this is my favorite, they graduate up the micro team, meaning they become me. I'm still going to be that lead generator. I'm still going to be that person that brings in the deals. But what if they start doing surgery? What if they start handling the negotiations and getting people under contract and dealing with tough inspections and those kind of contentious pieces? I can promise you that person will have a 1 to $200,000 a year life in this model. And they don't have to be a hunter. Most people fail because they have to hunt. If you can take that hunter responsibility off of it, think about the talent pool that opens up and guess what? I'm still as the business owner and as the rainmaker and team leader, I'm still retaining the grand majority. But now we're doing 70, 80, 90 deals a year with one admin that's full time in a VA with one agent partner that's still doing all the showings. And then I got somebody doing all the navigating and negotiating. If we're at $10,000 a commission and 90 deals, that's $900,000 of top line revenue. My agent partner is going to make 60 and my admin together are going to make 60. So that's 120. Let's say I pay 180 to this other person gang. 180 plus 120 is 300. That means I'm keeping $600,000. Do you think he you'd like a business where you don't navigate, negotiate, show any, show any houses. You have four people working with you and you're one succinct unit and your job is to lead, generate a little bit and be a little bit of a leader and all of a sudden you make half a million dollars. Dustin, do you know how many real estate teams actually make a half a million dollars a year in profit? Yeah, probably not a few, not many.
- [33:39]
Dustin Brome
Yeah, I believe that this, this is.
- [33:41]
Eric Hatch
This is a five person team. Five, five person team.
- [33:46]
Dustin Brome
I think it's a brilliant model and so I'm trying to think of like all the, like, where, where. Should we drill down into more details? Like, where? Could we give a little bit more context? I know, like I, I can just hear people now. They're like, okay, well I've never hired an employee before. Like, how does the W2 thing work? Like, how do you withhold taxes? Like, how do you do the. How do you make sure you're doing everything right as a first time employer? What do you, like, how do you do that? Are there a serve, like a services you can outsource it to or.
- [34:17]
Eric Hatch
Well, there's always services. I literally wrote a book on this called the Perfect Real Estate Agent Blueprint. I'll give it to everybody that's listening here for free. You just got to pay shipping and handling. It's like seven bucks. And so if you want this book, we break everything down for people. Follow me on Instagram. Real Eric Hatch. That's Eric with a K. And then just DM me the word blueprint. You'll get instructions, the AI. I'll take over. You'll get instructions on how to get a free copy of this book. I have videos on, videos on videos on my YouTube channel, on our hatch coaching YouTube channel. I will do everything I can to help you set this up because I am on a mission, Dustin, to try to change real estate teams in this industry. Agents deserve better lives. Clients deserve better than the new agent. Team leaders and rainmakers who are taking all this risk need to be much smarter about how they do it. And our lives can be changed if we actually just follow the damn model.
- [35:10]
Dustin Brome
I love it. I'm going to link to that in the show Notes on the pod on YouTube. DM you, the word blueprint on Instagram. That's fantastic. But what, what else have we not covered? If someone's, if someone's sitting there, they're, they're busy, they're overworked, like they're, they're running up against that ceiling where they can't really do much more themselves. I know your whole theme today was you have to scale yourself first, you know, through these people and systems and whatnot. But what, what else do they not know that they don't know about going to the next level of leverage?
- [35:49]
Eric Hatch
I'm going to answer your question in a roundabout way. I had the privilege of speaking at an event a couple of weeks ago and I had been percolating with this thought and I really like how it came out. And so I want to share that. Here is. There was a season in my life, where I just chased money. And the money I got from transactions was life changing, literally. I got my real estate license first because I have a gambling addiction, and I was feeding my gambling addiction. And then I used that cash to rid myself of all the debt that I had cost from my gambling addiction. I then used the next level of cash so that I could be a dad, because we had massive infertility issues. And if it wasn't for the cash of real estate, I wouldn't have the life that I have now, and I wouldn't have the daughter and the son that I have now, like real estate. And the money from it changed my forever. But that chapter got old and that next chapter I was chasing was time. And so for ten and a half years now, I've been out of production. I still own and operate a real estate team. I still live as a coach. I'm still producing. I'm producing for my brokerage, I'm producing for coaching, But I'm out of the transactional real estate game. But I've chased time. And so Now I work 30 to 40 hours a week. My mind works 100 hours a week still, but I'm no longer sacrificing the time. First I sacrificed my time, and now I'm using the money that I made to buy back my time. And it's really great. So chapter two is about time. Chapter one was about money. Chapter three has been about impact. And I recognize, like having money and time without impact and influence, it wasn't as satiating of a bite. And so now it's like, how. How wide can I have my voice go and how deep can it carry? Not because I have all the answers, but because I've seen some things and I. I think that I can help some people to live a better version of what they are doing right now. But I thought that was the end of it. I thought that my flywheel ended there at impact. And now I'm actually in the most bizarre of places. And that's peace, because I'm imagining, if you're anything like me, that some of what we do is for a flex because of daddy issues, or because of rejection issues, or because of a brokenness we have or because of a story that we have believed to be true. And that all rings true for me. But I found peace in the last couple of years that regardless of the money that I make or the transactions that I do, or the awards that I win or don't win, or the stages I have or don't have, Regardless of any of that, I need to be okay with me. And that's been the most fantastic of places to be because real estate was an unintentional mask that I was wearing to be number one and to be the best. And when I actually figured out that me being the best was me serving people, and that meant serving myself first, when I got that figured out, this is. This is the most fantastic of places to be. And so I, I get to say, if you're thinking about building a real estate team, if you're trying to get more in your life, get more for your health, get more for your mental, mental health and, and cognitive state, be a really great husband or wife, be a really great mom or dad, be a really great friend. Everything else matters less. Those things matter the most. I love it.
- [39:34]
Dustin Brome
I can't think of a better way to end. To end that. Thank you, Eric. I mean, you. You taught me today. Everybody here learned something that's going to be very helpful. And I love your different approach to team building that the. It's just different than the industry teaches. And, you know, it sounds a hell of a lot more sustainable and scalable than. Than anything else out there. So thank you for that. Let us know. Where can people find you? Where can they learn about the Hatch Summit you have coming up in June? And you know where, where can they get all of your. Your good stuff?
- [40:11]
Eric Hatch
Thanks, man. Yeah, Instagram is where I try to drop all my stuff. And so I'm at Real Eric Hatch, Eric with a K. Dang you parents for putting that K on my name. Makes it trickier, but Real Eric Hatch, find me on Instagram. I'll be posting all about our summit. I'll be posting all about events that we have coming up. We do the event of the year, equal parts weird and awesome and funny and heartfelt and super motivating for real estate teams. I'm designed to serve leaders and designed to create community. And we do so through our Summit, which is June 16th to the 18th. The event of the year. Love to have you there. And if you use the discount code, one reel O, N E, one reel, you'll save yourself 100 bucks on your ticket. One real summit. One real summit. I almost said it wrong. One real summit.
- [40:57]
Dustin Brome
One real Summit's the discount code that is.
- [41:00]
Eric Hatch
Yeah, perfect.
- [41:01]
Dustin Brome
Eric, thanks so much for being on the show, man.
- [41:03]
Eric Hatch
It's an honor.
- [41:04]
Dustin Brome
Talk to you soon. I hope you enjoyed that new way of looking at team building. And hopefully, if you're in the process of wrapping your head around that maybe you make some different decisions, maybe you structure it differently. What he talked about goes, goes very well with what we teach in the massive agent business accelerator. He went way granular in all of those and gave some great stories in perspective. I love it. But I fully endorse just the whole approach to why build a team in the first place. What the point is doing right by your people and building them up. I believe in the importance of scaling yourself. I mean, that's something I actually learned from Eric, is before you start to bring on other agents and like scale yourself so that you can do a lot more deals without spending a bunch more time. Right? So outsource certain things to the admins. Like you said, not going to rehash the whole episode, but this is one you may want to listen to twice or three times. What the hell? If you found value in this episode today, please share it with someone who needs it. Share it with a team leader. Share it with someone who's, who's ready. Like there's, there's like, hey, I'm really busy. I need to start a team, send this to them, get this information in front of as many team leaders or want to be team leaders as we possibly can to save them the heartache of doing things the wrong way. As always, very appreciative to our partners that make this podcast possible. Keeping current matters Be the advisor your clients trust with kcm. KCM gives you an easy to understand market insights. They give you ready to share graphics, they give you video scripts to keep you looking like a pro and to position yourself as a real estate advisor, which is how you actually get business, not just a salesperson. Try it for free over@kcm.com BAM today. Sorry, try kcm.com BAM today and then level up your business with BAM X. BAM X is now on school. They've moved their courses, their masterminds, the trainings, all the networking over to the school platform. It's awesome. It's a network of ambitious agents ready to push you higher. In addition to all the the trainings they have. Join today over@massive agentsociety.com BAM X massive agentsociety.com BAMX and check out the new platform. I think you'll find it's quite awesome. If you like BAM and what they're doing and love the information they put out, you need to be a part of BAM X especially for their business in a box that they do. Check it out. MassiveAgentsociety.com Bam X thank you so much for listening. If you have not yet left a review, please do. Let me know what you like about the show. Let me know which episodes resonated with you. Let me know what you want more of from the show in a review on Apple, on Spotify, or wherever you listen to the show. And then if you have not yet subscribed it. It sucks when you don't know that new episodes are coming out. I don't want you to have to rely on a random Instagram story from me to know that a new episode came out. So just click the subscribe button. You'll get notified every time we have a new episode. Drop every Thursday. Keep coming back. We'll be back next week with another episode of the Massive Agent Podcast as we creep towards episode 400. We're just 20 weeks away. That's crazy. That'll be here before we know it. Thanks for listening. See you next week.