On today’s show, we did something I’ve never done before. I’m joined by Wyatt Wolff, a loan officer, who breaks down his career working with real estate investors, agents, and home buyers helping them to buy real estate. Rather than the traditional interview model where we talk to investors, today’s show focuses on those who help investors. Wyatt shares his story about working two jobs where he would work in the warehouse of a distribution center during the day and closing loans for clients at night. Wyatt shares his journey as he moved from closing loans for a bank to working at a brokerage where he has hundreds of options for clients to choose from. The conversation moves from mindset and how the W2 perspective can ruin work ethic, to practical advice on how to be effective at your job during the day. The show goes deep into the changes people need to make in order to be successful in today’s economy. If you’ve ever wondered why some people succeed in RE while others don’t, you HAVE to listen to this show.
Chapters 00:00 Introduction to Real Estate Careers 02:44 Wyatt's Journey into Real Estate 05:25 The Difference Between Banks and Brokerages 08:05 Understanding the Brokerage Model 10:53 Choosing Between Retail Lending and Brokerage 13:48 The W2 Mindset vs. 1099 Mindset 16:29 The Spectrum of Comfort and Profit 19:18 Responsibility and Opportunity in Real Estate 22:21 Lessons from the Hard Road 25:09 The Value of Skill Over Niceness 32:05 The Value of Tough Love in Professionalism 35:01 The Balance Between Kindness and Effectiveness 37:02 Taking Responsibility in Leadership 37:49 The Importance of Accountability in Teams 39:53 The Spectrum of Agency in Individuals 42:36 The Role of Tough Love in Personal Growth 46:16 Becoming the Right Fit for Success 49:46 Investing in Yourself for Future Gains 52:53 The Mindset Shift from Entitlement to Contribution
