254 -12 Things I’ve Learned in Real Estate with Patrick Lilly

Posted on 7th January, by REV (Real Estate Vision) in Podcast

Patrick Lilly wears many hats: successful New York City real estate broker, educator, transformational life coach, speaker, and world traveler. Curious by nature, Patrick likes to explore other ways of thinking, feeling, living and being, which ultimately allows him to serve his clients’ best interests.

Patrick has sold over 1,200 properties worth more than $1.35 billion worth of property in his 34-year career.

This strong sales success has resulted in many national honors, most notably the Keller Williams Pinnacle Award which is presented to just 20 exceptional agents across all North American firms. Additional distinctions include being named one of The Wall Street Journal’s Top 250 Agents in the nation and Inman’s 101 Most Influential Agents in North America. He was also featured in “The Billion Dollar Agent” by Steve Kantor.

Through his organization Real Estate Success Rocks, Patrick hosts an annual conference and a weekly podcast for agents. He is also the founder of Real Estate Vision (REV), an educational and networking group for top producing agents. Patrick is a frequent speaker at conferences and seminars throughout the world. A consistent theme in his talks is the creation of practices that nurture both your soul and financial well-being.

After completing his BS in Psychology and Mathematics from Missouri State University, Patrick earned an MBA in Marketing and International Business from New York University. In 2007, he earned his life coaching credentials, which allows him to conduct transformational seminars throughout the world on discovering one’s essence and purpose in life.

Patrick divides his time between New York City, his weekend house in the Hudson Valley, and pursuing his passion of traveling the world.

In today’s episode, we cover 12 key lessons I’ve learned during my career that you can use to optimize productivity and profits.

In this episode, you’ll learn..

1. Opportunity exists in all markets – seller & buyer, depressed vs active – where is there movement? Be willing to switch from what worked in the past. Track the trends in inventory, time on market, and sales price ratio to asking price
2. Accurate pricing saves you money – time on market, seller’s level of happiness. Use your average days on market as a tool to position yourself versus your competition
3. One of the best ways to increase profitability is to put more resources towards those lead generation activities that are most productive
4. Do what you do best and delegate the rest
5. Lead Generation is the most important daily activity – stay in touch with your database
6. Spend time each week to work on your business, not in it. Proactive vs. Reactive
7. Time Management is Key
8. Reduce interruptions in your working day
9. Reduce anxiety by stop watching/reading the news and put your phone and your apps on silence during lead Gen, working with a client, or working on your business
10. Inspiration is key
11. Take care of yourself before you take care of others
12. Use the Platinum Rule instead of the Golden rule