Dave Ramsey Defines Personal Financial Success in the Real Estate Industry

From rock-bottom to riches, Dave Ramsey knows how to navigate the often bumpy – and rarely direct – road to success.

Now a personal finance expert, renowned business entrepreneur, best-selling author and popular podcast host, Ramsey is able to provide agents with tried and true advice based on his own experiences – failures and successes alike.

Having helped millions of people with their personal financial goals, Ramsey joined Nick Bailey on “Good Morning RE/MAX” to share his story and provide financial advice. He’ll give even more wisdom to the RE/MAX network of agents and brokers during the 2021 RE/MAX R4 convention, March 23-25, which offers both virtual and in-person registration.

Experience guides advice

Raised by parents who worked in the industry, Ramsey pursued his own career in real estate after college, selling his first house at just 18 years old. Over the next few years, his real estate investment startup – which flipped houses, Ramsey quips, before it was trendy on cable TV – saw tremendous success and was valued at over $4 million dollars.

A series of unfortunate events unraveled, however, leaving Ramsey and his company bankrupt. Despite the loss, he describes that time in his life as an opportunity to start over.

“You have to commit to discipline on the operational side of your personal business and personal [finance], and [that means to] get out of debt and stay out of debt,” he explains, looking back on his own experience.

Planning for the year ahead

Ramsey says real estate agents find success because they are inherently “relationship people,” and require a high emotional quotient (EQ) to foster such strong people skills in order to close deals. Those who can balance that high EQ with a tireless work ethic often become top performers. He identifies the outcome of top-performing agents through the Pareto Principle, which says that 20% of people conduct 80% of business.

Mindset plays a crucial role in differentiating oneself from competitors. Especially prevalent in 2020 with COVID-19, those who halted operations out of fear in the spring inevitably lost business to those who maintained a motivated, optimistic mindset and adjusted their business plans accordingly.

On the heels of an unpredictable year, Ramsey advises agents to assess their spheres as they launch into 2021.

“I’m spending my time pouring into things that that are going to lift me and take me where I need to go [and] give me courage,” he says. “And, I’m going to hang out with people that are giving me courage as well in terms of my peer group that I’m going to [choose] that influence me.”

Ramsey also advises agents to build up an emergency fund and develop a written game plan as a form of protection and peace of mind should things ever go awry.

Ready to hear more advice from Ramsey? Register for the 2021 RE/MAX R4 convention, a hybrid event accessible in-person and online, where he will be a keynote speaker.

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