Here’s what you need to know about building wealth as an agent.

Are you on a wealth-building journey? A year ago, I joined the Keller Williams Wealth community, a thriving hub with three masterminds annually, a plethora of classes, and an abundance of resources accessible anytime through their portal. This community has provided invaluable insights and support, making it a cornerstone of my journey. Here are three impactful takeaways from this enriching experience: 

1. Leveraging systems and tools. A highlight of the event was the keynote speech by Nick Sonnenberg, the author of “Come Up for Air: How Teams Can Leverage Systems and Tools to Stop Drowning in Work.” One key takeaway from his speech was that 58% of everyone’s time, unless optimized, is spent on work about work—email scavenger hunts, searching for information, etc. By embracing efficient systems and tools, we can save a working day per week per person. Sonnenberg emphasized the importance of having an internal communication system, citing email as other people’s to-do lists.

“You should evaluate listings for their wealth potential. ”

2. Use real estate to build long-term wealth. Brian Muir, an accountant and CPA from Raleigh Lab Barley Solutions, believes that, “Real estate is the number one efficient way to make money in the tax code.” Muir urged agents like us to consider real estate not just as a profession but as an investment opportunity. He highlighted the need for a wealth plan, encouraging agents to evaluate listings not only for market potential but also for personal investment. 

3. Whole life insurance. Kyle Fuller from Factum, a whole life insurance company, challenged the notion that whole life insurance is an investment. Instead, he presented it as a powerful chance to build wealth. Fuller explained how, with strategic planning, whole life insurance policies can be transformed into a financial tool, acting as a “bank” for acquiring more real estate. While this concept requires careful consideration and professional guidance, it opens up new avenues for building wealth through strategic financial planning.

If you have questions about what I talked about today or anything else about your wealth journey, please call or email me. I’d love to connect with you!