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đź’° His Real Estate Biz Does $300M a YEAR
How Chris Watters mastered the real estate game and grew a nationwide empire.
School of Hard Knocks
August 15, 2024
How we doin’, Hard Knocks community?💰
We’re back with a fresh new School of Hard Knocks Newsletter. This week, we’re featuring one of today’s most successful founders in the real estate space. Chris Watters scaled his real estate brokerage, Watters International Realty, to a 9-figure, INC5000 company. Here, we’re recapping all the highlights from our recent conversation plus Chris’ top takeaways.
Today’s Schedule
From Mentee to Master: How Chris Watters Mastered the Real Estate Game and Grew a $300M/Year Nationwide Empire
From the Hard Knocks Library: The Big Leap by Gay Hendricks
In Case You Missed It: We interviewed the host of A&E’s most popular house flipping show
Let’s jump in!🔥
From Mentee to Master
Chris Watters owns one of the largest real estate brokerages in the country. As the founder and CEO of Watters International Realty, Chris scaled his business to $300M a year and landed a spot on the INC5000 list.
Chris grew up in Austin, Texas and was raised by a single mom who worked as a hospice nurse. Money was tight and they couldn't afford to do a lot of things, but Chris' mom lit the entrepreneurial spark in him at a young age.
As teens, Chris and his brother started a lawn mowing business. Thanks to his mom's homemade door hangers, leads started coming in, the phone started to ring, and the boys were mowing lawns left and right.
From that moment on, Chris knew that he was supposed to work for himself, not support someone else's dream.
Chris' lawn mowing business funded his college education and allowed him to graduate debt-free. At 21, he sold the business for a couple hundred thousand dollars and invested in a bar and restaurant. Chris went all-in, but nine months later, it all came apart.
Realizing that his pride got in the way, Chris used this humbling moment to become "really freaking coachable." He devoured all he could from entrepreneurial books, implemented their strategies, and found the right mentors to put him on the path to success.
In 2010, Chris founded Watters International Realty. In 2015, he started opening branches across Texas and North America and partnering with local market experts and leaders.
Today, Chris also holds multiple advisory roles in technology and real estate investment companies.
Chris Watters
Inside the School of Mentors Community, Chris shared a ton of great insights on a live call. Here are four top takeaways:
The Bridge to Riches
According to Chris, the main skill every entrepreneur needs to master is sales. The bridge to riches is in converting complete strangers into clients or customers. You accomplish this by developing both inside and outside sales skills.
On the inside, you master what to say on the phone, how to manage leads, and how to overcome objections. Outside sales is all about face-to-face interactions and closing the deal. Chris also advises to become a subject matter expert to build credibility, which comes over time with a lot of practice.
A Moment in Time
When Chris lost everything after his failed bar and restaurant venture, he read Tony Robbins' Awaken the Giant Within. One of the key points in the book is to remind yourself that most things in life are just a moment in time. Bad experiences will happen, but they don't last forever.
As an entrepreneur, challenges will come up constantly, especially when you're just starting out. Embracing the journey and being self-aware that you're "in the suck" will keep you motivated to keep ascending the ladder.
Enjoy the Grind
Building and scaling a business is a major grind. Rejections and a never-ending task list can be a slippery slope to burnout, but a simple mindset shift can help you pull through. Chris talked about how he comes up with games to help him meet short term goals. For example, he'd challenge himself to make 100 dials before 9:30am.
Giving yourself little mental challenges throughout the day helps you stay focused and even enjoy the grind. When things get tough, don't forget to look back at how far you've come and take a time out for gratitude. This will help you get out of a negative headspace.
Find the Experts
When asked what he would do differently in his real estate business if he could go back in time, Chris said he would have gotten a coach or advisor sooner. He felt like he wasted the first couple of years when a coach could have been the shortcut he needed to grow quickly. Finding someone who's already been there and following in their footsteps is key.
Chris also says he wasted a ton of time trying to master SEO when he should have just found the SEO master and hired them. If you're not going to build an SEO business, you don't need to be the master. Find the experts and they will help you accomplish the results you want.
Connect with Chris here:
Watch our podcast with Chris:
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Words of Wisdom
“Do what you do so well that they will that they will want to see it again and bring their friends.”
In Case You Missed It
In a recent podcast, we sat down with Pace Morby, the host of A&E's most popular TV show 'Triple Digit Flip.' Pace has acquired 1,000's of doors nationwide and built a portfolio totaling over $450 million in assets! Here, Pace shares his story and shows how anyone can become successful within real estate, as long as they have a winning mindset.
Let Us Hear From You
What were your thoughts on todays newsletter? Please reply back with your thoughts or things you would like us to include in future newsletters!