Mastering Real Estate Business Financials with Andy Mulholland
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54 min
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Show Notes
Andy Mulholland
Andy Mulholland spent a decade building and running a successful real estate team. He and his wife, Ellyn, now run the books for many top real estate teams.
He joins us on Real Estate Team OS to help you get a handle on your real estate business financials. Your P&L. Your net profit margin. And he does it by keeping things simple.
Andy shares with you why we’re so focused on top line numbers, why we’re confused about our net profit, why me must align our economic model with our operating model (and what the three main models are), how to define our goal posts (not a specific target), why “reinvesting profits” is really just spending too much money, and more!
Watch or listen to this episode on business financials for insights into:
Numbers as the purest form of communication
Why lifestyle was the spark for his real estate team
Three top takeaways from his team-building journey
Why we’re so focused on top line numbers like agent count, units, and volume
Three primary economic models (Teamerage, School of Fish, Shark with Feeder Fish)
Three reasons team leaders are confused about their net profit
Two questions to ask to help you understand the health of your business
Ways to think about direct and indirect expenses for a clearer picture of your bottom line
Two places a team leader is struggling if they’re not profitable
The three (maybe four) elements of Cost of Goods Sold or Cost of Sale
How and why to pay yourself as an agent before leaving production
How to pay yourself after you’ve left sales production (remember: Profit First)
Why “reinvesting profits” is really just “spending too much money”
What NAVY Seal teams or Schools of Fish must keep an eye on to continue to thrive in the future
At the end, hear about a true team culture, an appreciation for Porsches, tractors, and old pickups alike, and hitting the road in an RV.
Watch this episode on real estate business financials:
Listen to this episode on real estate business financials:
