Understanding Net Income and Business Economics

Real estate is one of the rare industries where anyone with a license, a laptop, and a car can build a path to wealth—if we treat it like a business from day one. In this episode, we sit down with Jay Papasan, co-author of The ONE Thing and The Millionaire Real Estate Agent, and now author of the Rookie Real Estate Agent book.

We explore why the fastest on-ramp for many is joining a team, how to set realistic goals based on net (not gross commission), and why open houses remain one of the most powerful activities for new and seasoned agents alike.

At the core of his message: success comes from mastering the basics. Build and work a database, balance prospecting and marketing, and adopt habits that scale. Whether we’re new to the industry or revisiting our foundation, Jay reminds us that staying curious, humble, and focused on the essentials is what drives long-term success.

Resources:

• Learn more at The Color of Money
• Read Rookie Real Estate Agent by Jay Papasan
• Become a real estate agent HERE

HomeTeam Inspection Service is changing the way agents and clients experience home inspections. Their team-based model, streamlined scheduling, and bundled packages—including home inspection warranties—make the process smoother from contract to closing. And with pay-at-close available in many locations, you can give your buyers more peace of mind with less upfront cost.

Choose the team that works with yours—visit hometeam.com to learn more.

Connect with Our Hosts

Emerick Peace:

• Instagram: @theemerickpeace
• Facebook: facebook.com/emerickpeace

Daniel Dixon:

• Instagram: @dixonsoldit
• Facebook: facebook.com/realdanieldixon
• LinkedIn: linkedin.com/in/dixonsoldit
• YouTube: @dixongroupcompanies

Julia Lashay:

• Instagram: @iamjulialashay
• Facebook: facebook.com/growwithjulia
• LinkedIn: linkedin.com/in/julialashay/
• YouTube: @JuliaLashay

Bo Menkiti

• Instagram: @bomenkiti
• Facebook: facebook.com/obiora.menkiti
• LinkedIn: linkedin.com/in/bomenkiti/

Produced by NOVA

This podcast is for general informational purposes only. The views, thoughts, and opinions of the guest represent those of the guest and not  Keller Williams Realty, LLC and its affiliates, and should not be construed as financial, economic, legal, tax, or other advice. This podcast is provided without any warranty, or guarantee of its accuracy, completeness, timeliness, or results from using the information.

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Keller Successful Career Opportunities in Real Estate® (KSCORE®) and Keller Williams Realty, LLC (collectively, “KWRI”) does not offer pre-licensing (PL) and continuing education (CE) courses in any state; Kaplan Real Estate Education is the state-approved education provider and developer of pre-licensing and continuing education courses. KWRI encourages individuals to pursue a career in real estate by funding their pre-licensing courses. Please find Kaplan’s specific state approval information here. In Iowa, KSCORE® offers financial assistance for 60 PL course-hours; the student must pay for any additional required PL course-hours. TREC Provider #4546 (PL) and #31 (CE). Any questions regarding PL and CE course content or technology should be directed to Kaplan Real Estate Education.