With the right amount of people in our database, it’s possible to build a business operation that can take us from active income to passive income. That means no longer chasing commission checks and transactions, but actually building lasting wealth.
What’s the secret? It comes down to building relationships.
Instead of building a database to generate leads, we can build relationships that keep on generating actual business for years to come. That’s the path to becoming a passive-income earner in real estate.
How do we start cultivating database growth for the purpose of passive income? Why does recruiting become more important as we scale our database? In this episode, CEO and co-founder of YLOPO, Howard Tager discusses how our real estate businesses can become the ticket to true wealth.
The goal is building something that earns money beyond your own working hours.
Three Things You’ll Learn In This Episode
- Tech can help us capture interest and channel it into relationships
We have the tech and tools at our fingertips to know when people are thinking of buying or selling early in the process. Building systems to track and capture the interest signals is the first step to building a solid database of relationships.
- As our database grows, our recruiting has to match
The true growth bottleneck isn’t leads, it’s our team. As we grow our database and relationships, the challenge becomes recruiting the right talent fast enough and retaining them for long enough to grow a world class business.
- Change our mindset and the expectations we set for our database
Don’t think of a CRM as a database of leads, think of it as a database of relationships. The word “lead” dehumanizes people, and makes us only see them from the perspective of short-term, transactional appeal. A relationship is something you develop with the intention of long-term nurture.
Howard is the Co-founder and CEO of YLOPO. He is an entrepreneur, investor, and executive with a successful track record in real estate technology, digital marketing, and investment. Howard has started, grown, and successfully sold two companies (Ivy West and TigerLead) to large public companies.