From shack to millionaire - Ben Kinney's Millionaire Real Estate Agent Tips
Who is Ben Kinney?
Ben Kinney grew up in the one-room shack pictured, with his dad from age three through middle school.
In 2004 Kinney was a cable guy, and after buying his first apartment, the agent left him with 'The Millionaire Real Estate Agent' book as a gift. Soon after, there was a round of redundancies at his cable company, and whilst he was spared, it caused him to think “How can I plan my life if someone has control over whether I have a job?”.
This was the moment Kinney decided to quit his job and start his own real estate business.
Fast forward, and today Ben Kinney has multiple market centres in the US enabling over 1000 agents to run their businesses, generating a sales volume of $1.7 billion in 2014. He has his own estate agency team that plugs in to the market centres, which consists of a team of 30 with a sales volume of $150 million in 2014. He now has his own training organisation, along with six tech companies.
So we are curious... What exactly does Ben think makes a millionaire real estate agent? Here is what he had to say:
Invest more money into training and coaching. Otherwise your competition will pass you when you aren’t looking.
Learn how to build a team. Your family wants to see you more, and you need to make more money.
Focus on making your team members and staff rich — because if they are rich, you will be really rich.
Our business is moving online. Invest in technology and build your presence online fast.
Save your money. Keep reserves of four months of personal and four months of business expenses at all times.
Get a lot of reviews from as many people as possible and post them online.
Practice scripts and dialogues daily. Our team practices scripts from 8:30 to 8:50 a.m. every day (and has done so for the last nine years).
Say this to yourself every day, “I care about my hourly wage,” and anytime you can pay someone to do something for less than your hourly rate, do it!
Read more books. Pick a subject and study it for three to six months, like sales, leadership, marketing, lean business practices, and finance and investing.
Lead generate for two to three hours every day — five days a week — for buyers, sellers and talent.
I love what Ben says here, (its what we teach here at KW), and I would challenge you to consider which of the above you are not currently doing? Now Ben is doing alright, he could decide not to scripts practice tomorrow because he is already incredibly successful. But he will. To put into context why, here are his goals:
Hire somebody to do all the things I don’t enjoy.
Have a net worth of over $100 million.
Have $10 million in reserves in bank account.
Get married, but only once.
Create stuff I’d be remembered for in a positive way.
Help 10 people make $1 million per year.
Give $1 million per year to charity. (He gave $500,000 to charity last year.)
So it begs the question, are your goals big enough to motivate you every day?
I am so fortunate to be a part of a company where Ben Kinney is an investor, and shares all his tips and training. We ran his 'Zero to a Thousand' event in April where hundreds of agents across the country physically and remotely attended. If you would like to know more about our training, and attend a future event, please complete the form below.