The Path to $20 Million with Mike Prewett

Mike leads a discussion on building and maintaining strong client relationships in real estate. They emphasize the importance of reaching out to past clients and other professionals daily, without expecting immediate returns. They suggest focusing on building connections rather than manipulating sales. They encourage agents to look for ways to support other professionals and to maintain a low-pressure approach in client interactions. They also recommend sending handwritten notes to clients, highlighting the impact of such personal touches. Mike's message is that consistent, small gestures can significantly strengthen relationships over time, leading to more business naturally.

Mike leads a discussion on reducing contract cancellations in real estate, emphasizing the importance of setting and maintaining reasonable expectations with clients. Mike advises agents to educate clients about the realities of the housing market, such as inspection outcomes and typical negotiation ranges. They also highlight the importance of credit approval for buyers to avoid last-minute stress and suggests avoiding problematic inspectors. Mike challenges agents to adopt a more advisory role to improve client satisfaction and transaction success rates.

Mike leads a discussion on the 8020 principle, explaining its relevance in various contexts, including business and personal productivity. The principle, developed by Italian economist Fredo Perito, suggests that 80% of outcomes are determined by 20% of causes. Mike uses this principle to highlight that 20% of activities generate 80% of sales, and 20% of people cause 80% of problems. They encourage participants to identify their 20% activities and people, and focus on them to increase productivity and business outcomes. Mike reassures participants about road conditions and encourages them to apply the 8020 principle in their daily work.

Mike leads a discussion on lead generation and open house strategies, emphasizing the importance of volume, follow-up, and speed in generating and nurturing leads. They highlight the need for a 'sticky' follow-up campaign to build long-term relationships with clients, leading to future transactions and referrals. Mike stresses that the value of a sale is not just in the immediate transaction but in the potential for future business. They encourage agents to adopt a business mindset to maximize these opportunities.

Mike leads a meeting discussing how to generate $100,000 annually by engaging with for sale by owners (FSBO) and expired listings. They suggest a simple strategy: reaching out to FSBOs with a straightforward call, and using a CRM to maintain contact. Mike emphasizes that this can be achieved with just 30 minutes of effort per day, four days a week. They use a hypothetical scenario to demonstrate that one listing every ten hours is possible, leading to an average income of $10,000 per listing. Over a year, this could amount to $100,000. Mike encourages participants to adopt this strategy, noting that consistent, small actions can lead to significant results, similar to the formation of the Grand Canyon.

Mike leads a discussion on networking strategies, emphasizing the importance of meeting a large number of people to support business goals. They highlight that only 3% of the population moves annually, stressing the need for extensive networking. They advise against virtual networking events and encourage participation in live events. They suggest exchanging business cards and setting a minimum number of people to meet at each event. Mike also emphasizes the importance of follow-up communication via text, email, and mail to maintain relationships. They encourage sending weekly video messages and monthly newsletters to clients. They conclude by challenging participants to apply these strategies to achieve their goals.

Mike leads a discussion on leveraging the 'spear of influence' for business growth. They explain that the average person knows 250 people, and only 3% of the population moves annually, limiting the number of transactions from direct contacts. However, by considering the connections of those 250 people, an agent can indirectly influence 62500 transactions. Mike emphasizes the importance of a robust CRM for maintaining contact details and building credibility through consistent engagement and assistance. They advise against common social media practices that lack substance and credibility, urging agents to focus on helping clients instead. They conclude by challenging agents to act on these strategies to increase their business within their sphere of influence.

Mike shares four key concepts that transformed their business: having a specific target audience, treating the business like a business, starting the day early, and understanding cost versus benefit. They emphasize the importance of considering the cost of not doing something, which is often greater than the direct costs. Mike encourages agents to take risks on themselves, as it is a crucial aspect of self-employment.

Mike discusses the second of four key changes that transformed their real estate business. They emphasize the importance of running a business like a business, adopting practices similar to a traditional job. This includes starting the business day earlier, treating the business as a top priority, creating and adhering to a weekly schedule, setting daily and monthly goals, and accepting the risks inherent in self-employment. Mike encourages agents to consider these strategies to improve their business outcomes.

Mike shares their experience and strategies for success in real estate, emphasizing the importance of focusing on a narrow, specific target audience. They discuss how their approach has evolved over time, from geographic farming to targeting specific demographics like investors or seniors. Mike advises against broad categories like 'seniors' or 'luxury homes', suggesting a more focused approach like 'senior housing over 55' or 'high-end neighborhood'. They encourage agents to start small and grow their business based on their strengths and interests, suggesting they become active in local community organizations to reach their target audience effectively. Mike invites agents to meet with them to discuss their unique needs and develop a tailored strategy.

Mike leads a discussion on improving communication skills in real estate, focusing on eliminating outdated, cliché expressions and adopting more engaging conversational styles. They encourage agents to replace generic greetings with genuine interest in others, asking open-ended questions to keep conversations lively and meaningful. Mike emphasizes that changing these patterns requires effort but can significantly enhance interactions and business outcomes.

Mike leads a meeting discussing the importance of consistency in real estate, emphasizing the need to do the right things. They encourage agents to stop using outdated practices, such as the traditional newsletter format, which is boring and ineffective. Instead, they suggest sending out a 'deal of the week' or highlighting a trusted partner, sharing a home maintenance tip, or discussing a unique trend in the industry. Mike encourages agents to be creative and mix up the content each week to increase engagement. They highlight the need for agents to actively make these changes to improve their success.

Mike leads a discussion on improving business practices, focusing on the importance of consistency and the need to break away from outdated routines. They encourage agents to expand their networking circles, advising against spending time with other real estate agents or homeless people. They suggest joining a new networking group monthly and meeting five new people daily, adding them to a CRM for future engagement. Mike emphasizes the significance of implementing a twelve-point sticky campaign to stand out in a crowded market. They conclude by advising to associate only with people who motivate and inspire improvement, suggesting a rule to limit interactions with those who do not.

Mike leads a discussion on the importance of consistency in real estate and the need to abandon outdated practices. They emphasize the need to stop 'faking it till you make it' and instead focus on providing value to clients. They advise against sharing personal achievements and opinions, suggesting that agents should highlight their accomplishments through their work rather than personal bragging. Mike encourages agents to share content that educates and assists clients, such as home maintenance tips or information about local programs.

In the last conference call of 2025, Mike, the company's leader, recaps the year's achievements despite a challenging market. These include founding a tech center, launching a life support program, creating a Canva teams account for marketing materials, and expanding the broker team. The company outperformed national and state averages in sales per agent, ranking second in Georgia and in the top 20 nationally. Six agents exceeded ten million in sales, with one exceeding 25 million. Mike promises to invest in the team with more support and services, challenging them to do the same in 2026.

Mike leads a meeting discussing the importance of actions over goals, visions, and plans. They share insights from a psychologist friend about humans' behavior, emphasizing that actions reveal one's true intentions. Mike challenges the effectiveness of vision boards and business plans, suggesting they don't guarantee success. They encourage participants to focus on becoming the person who can achieve their goals, rather than just setting them. Mike plans to share a practical approach to help participants move forward, urging them to evaluate and apply the suggested methods.I am what I do

Mike leads a discussion with real estate agents, asking them to consider running their business like a restaurant. They challenge them to reflect on how they manage their time, marketing, and customer service, comparing these aspects to running a restaurant. They encourage them to take action and apply these business strategies to their real estate business.

Mike initiates a discussion about the concept of starting new initiatives on arbitrary dates like the first of the year. They challenge the notion that these dates signify a fresh start, suggesting that people could start making changes immediately rather than waiting for a specific date. Mike uses examples like health and business to emphasize the importance of immediate action. They encourage participants to adopt a new self-identity and take immediate action to grow their business, urging them to stop waiting for future dates to make a difference.

Mike opens the meeting by addressing the use of generic, insincere greetings in professional communication, arguing that such phrases disconnect conversations. They criticize the use of automated messages from CRMs, particularly during holidays, as they come across as spammy and insincere. Mike highlights the resources available to create more personalized and engaging content, urging team members to leverage these resources to build credibility and engage their audience effectively.

Mike leads a business call, encouraging participants to observe successful businesses and individuals like John Mango, who has built a successful career focusing on a narrow aspect of real estate. Mike uses the example of toothpaste brands, noting how each targets a specific problem, to emphasize the importance of focusing on a niche market. They advise participants to narrow their focus and become the best at one thing, rather than trying to appeal to everyone. This approach, they suggest, can lead to increased income and industry leadership.

Mike discusses the seasonal trends in the real estate business, noting that despite common assumptions, December is often the strongest month for closings, followed by May and June. They attribute this to the summer vacation hangover and the fact that people are paid for work done 60-90 days ago. They encourage agents to take advantage of the upcoming weekend, suggesting that Friday could be a particularly good day for open houses due to fewer distractions for potential clients. They emphasize the importance of being proactive and taking advantage of unique opportunities to ensure a strong first quarter.

Mike leads a meeting emphasizing the importance of diversity in the workplace and in business. They discuss various topics related to real estate investing, including depreciation schedules, the 101010 rule, and 1031 tax-free exchanges. These discussions aim to equip participants with additional tools and strategies for their real estate business, encouraging them to diversify their business for strength and success.

Mike, a real estate professional, discusses the importance of exclusive client relationships for accessing off-market investment opportunities. They explain that these opportunities are reserved for their clients under a twelve-month exclusive buyer brokerage agreement. Mike shares their frustration with individuals seeking off-market deals without committing to them as a client, likening such requests to "[expletive]." They emphasize the need for mutual commitment to access their services, which include finding both listed and non-listed properties.

Mike leads a discussion on investing in real estate, focusing on the 101010 rule. This rule advises keeping interest rates under 10%, using less than 10% of one's own cash for property investments, and maintaining properties within a 10-mile radius of one's residence. Mike explains the benefits of leveraging and the risks of financing depreciating assets. They suggest that following these rules can make real estate a profitable investment for individuals, providing diversification and potential tax advantages. Mike encourages their audience to consider these strategies for their financial planning.

Mike leads a discussion on real estate investment strategies, focusing on appreciation and depreciation for tax benefits. They encourage participants to shift their focus from purchase price to net return and to leverage IRS depreciation schedules. They use a hypothetical example to illustrate how these strategies can result in tax deductions without actual financial loss. Mike emphasizes the importance of these strategies for growing wealth and reducing taxes legally. They also announce a special guest, John Mangham, who will discuss tax-free exchanges on Wednesday.

Mike, a real estate professional, addresses the challenges of the past three years in the residential market, noting the lowest transaction numbers in 35 years. Despite this, Mike is optimistic about a market shift, citing recent reports of increased home buying and mortgage application volumes. Mike emphasizes the importance of adapting to market changes and suggests solutions like the portability of mortgages to ease affordability. They encourage agents to engage in their business and take advantage of the potential rebound in 2026.

Mike leads a discussion on addressing common objections from home sellers and buyers during the holiday season. They suggest using a 'home for the holidays' program to mitigate these concerns. The program includes appointment-only showings, select days and times for showings, Mike's presence during all showings, no yard sign, and no lockbox. Mike encourages agents to adopt or modify this program to stimulate action during the typically slower holiday season.

Mike discusses handling objections from buyers and sellers during the holiday season. They suggest using questions to understand the customer's perspective and concerns. Mike shares their 'home for the holidays' program, inspired by car manufacturers' holiday sales promotions, to encourage sales during this period. They plan to present this program in detail to encourage adoption and use in sales strategies.

Mike discusses the importance of podcasting for business, noting that 39% of weekly podcast listeners use YouTube, surpassing Spotify and Apple combined. They emphasize the need for video podcasts to engage viewers, not just listeners. Mike advises creating a podcast and uploading it to YouTube, suggesting that it doesn't need to be professionally produced. They advise starting with one video per day to meet YouTube's requirement of 100 videos for better visibility. They encourage adapting to this trend to stay competitive.

In this meeting, Mike discusses the ongoing exploration of AI with the team. They highlight the upcoming session led by Hannah, which will delve deeper into AI embedded connections. Mike encourages the team to embrace change and learn new skills, comparing it to personal growth. They share examples of how team members are using AI, such as Brian using it for route planning and Tracy using it for BNI presentations. Mike emphasizes the importance of sharing ideas and experiences within the group to harness collective genius.

Mike leads a meeting discussing the importance of adopting AI technology in real estate to stay competitive. They share examples of how other agents are using AI for scheduling, follow-up campaigns, and improving presentation quality. Mike emphasizes the need for agents to stay updated and utilize AI to enhance their services. A free CE class on AI usage is scheduled for the day, encouraging participants to bring their tech tools for a hands-on workshop. Mike challenges the group to adopt a positive learning attitude to stay ahead in their industry.

Mike leads a meeting at Connect AI, encouraging participants to adopt AI technologies in their real estate practices. They share examples of how AI can be used for property analysis and client consultation, emphasizing the importance of staying updated with new tools to remain competitive. Mike invites participants to share their own AI use cases, highlighting the power of collective intelligence in driving innovation. They plan to share these ideas during the week to inspire others.

Mike, the host, opens the meeting by discussing the importance of embracing change and learning new technologies, using personal anecdotes to illustrate their point. They announce that November is AI month at Connect, with a series of educational sessions planned. The first session, led by Missy Robertson, will focus on AI platforms, and another session led by Hannah will explore AI use cases. Mike encourages participants to share their own AI use stories and tips. They share their own tip about using the free app, Summary AI, to record and summarize coaching sessions. They emphasize the power of collective intelligence and encourage active participation in the month's activities.

Mike leads a meeting discussing the importance of building and maintaining a personal network for real estate agents. The key is to have 100 contacts for every three transactions, emphasizing the need for genuine relationships rather than just names in a CRM. Mike outlines various strategies to enhance stickiness with these contacts, including regular communication through phone calls, videos, podcasts, social media, newsletters, and blogs. They encourage agents to actively engage in these activities to grow their business and highlights the importance of taking action rather than being idle.

Mike leads a discussion on using Google and Meta's public tools to research competitor ads. These tools allow users to see the ads of any advertiser, helping to understand market trends and differentiate their own campaigns. Mike encourages participants to use these tools to gain insights and inspiration for their own marketing strategies, emphasizing that it's not about copying others but about standing out in the market. They suggest visiting Google's Ad Transparency Center and Meta's Ad Library to explore different advertising strategies and trends.

In this meeting, Mike discusses strategies to manage seller expectations in a changing market. They apologize for a text message mishap and shares insights on how to handle overpriced listings and sellers' unrealistic expectations. Mike suggests strategies like reverse offers and community-wide open houses to attract more buyers. They emphasize the importance of the seller not being present during showings to avoid distractions. Mike encourages agents to have difficult conversations with sellers to manage their expectations and suggests referring listings to other agents if they can't handle these discussions. They offer coaching to improve these skills.

Mike leads a discussion on strategies to sell listings faster. They discuss using reverse offers, unique open house concepts, and leveraging assumable mortgages as marketing tools. Mike suggests exploring these options to add value for sellers rather than just focusing on price reductions. They encourage agents to consult with colleagues for further assistance and to document any assumable mortgage details in the listing.

In this call, Mike discusses strategies to improve listing sales in a challenging market. They suggest a community-wide open house event to increase visibility and participation, urging agents to coordinate with other agents in the community. They also emphasize the importance of managing seller expectations, particularly around pricing and property condition. Mike encourages agents to consider non-traditional open house times to avoid competition with major sports events. They advise agents to communicate these strategies effectively to their sellers to maintain their confidence and support.

In this meeting, Mike discusses the challenges of the real estate market, where listings are increasing but not selling. They suggest implementing a strategy called 'reverse offers' to proactively engage showing agents and potentially impress sellers. This strategy involves preparing a standardized offer to send to agents after a showing, rather than waiting for them to make an offer. Mike emphasizes the importance of pricing and condition in selling homes and mentions that Sherry will provide a Zoom session to help agents prepare these offers efficiently. The goal is to improve the agent-seller relationship and better position listings in the market.

In this conversation, Mike discusses the importance of setting realistic expectations for home buyers. They ask if real estate professionals are guiding their clients through the process or allowing them to set their own expectations. Mike inquires about the explanation of the offer process, negotiation tactics, and the role of a home inspection. They also discuss the importance of educating clients about the availability of real estate professionals and the process of closing a home. Mike suggests creating a process for clients to evaluate homes and provides examples of how to do this. They emphasize the need for professionals to act as trusted advisors, helping clients set and manage expectations.

In this conversation, Mike discusses the importance of managing expectations with home sellers. They outline common unrealistic expectations, such as overpricing a home, expecting quick sales, and wanting no repairs or negotiations. Mike suggests using open-ended questions to allow sellers to reflect on their expectations and potentially adjust them. They emphasize the need for a calm and understanding approach to manage these expectations and avoid frustration. They encourage agents to find their own strategies for handling these discussions, as long as they are effective in managing client expectations.

Mike leads a discussion on the importance of managing customer and personal expectations in the real estate industry. They use examples to illustrate how unrealistic expectations can lead to frustration and unsuccessful transactions. Mike challenges participants to help their customers set more realistic expectations and to do the same for themselves. They encourage them to join them in subsequent discussions to explore strategies for managing expectations effectively. The focus is on aligning expectations with reality to achieve better outcomes for both customers and professionals.

Mike leads a call encouraging participants to engage in a follow-up campaign to generate $150,000 annually by spending less than an hour daily. They emphasize the importance of authenticity and avoiding scripted interactions with potential clients. Mike suggests a straightforward approach to initiate conversations with homeowners, focusing on understanding their selling intentions rather than pushing for immediate listings. They advise against manipulation and encourage persistence in follow-up efforts, highlighting that only 6% of For Sale By Owners are successful without an agent. Mike concludes by stressing the potential earnings from this approach if done consistently.

Mike presents two strategies to increase listing inventory: speaking with two for-sale-by-owners (FSBO) daily and engaging with one expired listing daily. Both strategies involve minimal time investment and no financial outlay, as resources are provided through a Facebook group. Mike calculates potential earnings, suggesting that even a modest 2-3% conversion rate could yield significant income. They emphasize the importance of honesty and follow-up in these interactions. The strategies aim to demonstrate the potential for substantial income with minimal effort, encouraging participants to apply these tactics.

In this coaching session, Mike encourages participants to reflect on their personal and professional goals. They emphasize the importance of knowing what one wants in order to achieve it. Mike notes that some people struggle to answer this question, either due to discomfort, lack of clarity, or resistance to accountability. They suggest that accepting accountability can be beneficial and encourages participants to set up systems to help them stay accountable. Mike's goal is to help participants take the first step towards achieving their goals by identifying what they want.

Mike leads a discussion on the importance of likability in business relationships. They encourage participants to reflect on the characteristics of people they like and dislike, focusing on traits such as humility, respect for others' opinions, and honesty. Mike suggests that likability is a key factor in building successful business relationships, as people prefer to work with those they know, like, and trust. They challenge participants to consider their own behaviors and whether they exhibit traits that could push people away.

Mike discusses the importance of maintaining a positive work environment, referencing a book by John Gordon, 'The No Complaining Rule'. They distinguish between complaining and problem-solving, emphasizing that complaints are about issues beyond one's control, while problem-solving involves addressing issues that can be resolved. Mike outlines their commitment to not tolerate negative energy or gossip in the workplace, sharing an example of firing an agent who was a constant complainer. They encourage employees to voice their concerns directly to them, as they value their input for improvement. Mike's goal is to foster a culture where employees can thrive without being hindered by negativity.

Mike, a real estate professional with over 40 years of experience, shares their insights on various scams targeting real estate agents. They recount a recent incident where a real estate agent was fired for scamming tenants and warns against scams involving coaching programs, Zillow, and brokerages. Mike emphasizes the importance of not accepting payments directly from clients and encourages agents to discuss potential opportunities with them before investing. They highlight their commitment to the success of their agents and urge them to be cautious and vigilant against scams.

Mike, the leader of a brokerage firm, addresses the team about handling issues and conflicts. They emphasize the importance of not trying to handle everything alone, but rather leveraging the resources available. This includes using the six brokers on staff, a broker hotline, a personal coaching program, weekly connect sessions, and legal advice. Mike encourages team members to seek help and advice when needed, highlighting that it's not a sign of weakness but a strategic approach. They stress the need for humility and initiative in asking for help, and promise to provide the necessary support and resources.

In this meeting, Mike shares their optimism about the future of the real estate business, citing strong employment numbers in Georgia, low unemployment, and a decrease in mortgage rates. They note that these factors contribute to increased consumer confidence and demand. Mike also mentions that the number of homes for sale has increased, leading to softer pricing and increased affordability. They reference positive forecasts from Fannie Mae and the National Association of Realtors, and internal office data indicating an uptick in transactions. Mike encourages the team not to be late to the market, urging them to reach out to their contacts and build their network to take advantage of the upcoming market conditions.

In this conversation, Mike addresses the challenges in the real estate market, where listings are taking longer to sell. They plan to discuss this at a 10:30 AM connect session. Mike dispels myths about an agent's control over listing prices and sale times, emphasizing that these are influenced by factors like market conditions, interest rates, and consumer confidence. They challenge agents to be honest with homeowners about their limited control over these factors and encourage them to focus on what they can control, such as providing excellent service. Mike invites agents to join the session to explore strategies for improving listing outcomes.