Ep #100: Building a 7 Figure Real Estate Business from the Ground Up (Twice) with Mark Arnstein
On the 100th episode of The Richard Robbins Show, I sat down with a friend who has lived two lives in the real estate industry.
Mark Arnstein, a 27-year veteran as a real estate agent, began his career in the beautiful city of Vancouver, British Columbia. 8 years later, after growing a substantial business and clientele, he packed up and moved to Toronto with his wife.
It was quite the adjustment for Mark as you can imagine. “You take a big fish in a small pond but drop it inside of an ocean, it takes a while to adjust,” he tells me.
Instead of feeling sorry for himself, Mark dedicated himself to understanding this new landscape and learning the Toronto market. “I became a student…I needed to understand the market and know where the value stood.”
Mark dedicated himself to doing two open houses a day over the weekends and began to geo-farm an area that he now dominates 19 years later.
On this episode of The Richard Robbins Show, Mark and I discuss the 3 crucial steps to successfully geo-farming an area. Mark shares his process for picking an area, budgeting, frequency and how to get a 10x return on your geo-farming investment!
Listen to the Full Episode:
What You’ll Learn In Today’s Episode
- How to pick the right area to geographically farm
- The expected cost and frequency when geo-farming an area
- Why community engagement can boost your business when geo-farming
- The importance of open houses as a new agent
- Why consistency is absolutely essential in business and farming
- The importance of a plan and sticking to it
- Why establishing agent relationships is a crucial part of building your business
Ideas Worth Sharing
If you’re going to farm, you need to involve yourself in the neighbourhood. People need to know you’re a real person, that you’re not just a taker but you’re a giver, as well. Mark Arnstein Click To Tweet
You take a big fish in a small pond, but drop it inside of an ocean, it takes a while to adjust. You go through a lot of different emotions. Mark Arnstein Click To Tweet
Consistency is the number one key to success in this business. You have to stay consistent in whatever you’re going to do and that applies to everything in life. Mark Arnstein Click To Tweet