The Sherri Johnson Show
What does it really cost to own a brokerage? Mitch Ribak built one of the most successful independent brokerages in Florida, with 120 agents, 700 transactions a year, $4.5 million in gross revenue, and he netted $90,000. In this episode, Sherri sits down with Mitch, an entrepreneur, author of The Big Lie, and leader of a 2,200-agent eXp organization spanning 48 states and 7 countries, to talk about what he calls the hardest truth in real estate: most brokers and team leaders don’t own a business; they own a crappy job. Mitch shares how he walked away from a potential $3.5M brokerage sale, why he ran his brokerage for 13 years purely out of ego, and what the mirror moment at age 56 taught him about legacy, freedom, and building something that lasts beyond you. In this episode, you'll learn: * Why $4.5M in revenue and a 120-agent brokerage only netted $90K, and what that really means for broker owners * The big lie about selling your brokerage (and why the $3.5M offer wasn’t what it seemed) * How Mitch cut his expenses from $65K/month to $15K and hit his freedom number in 18 months * Why he calls himself the “godfather of internet lead conversion” and what ISAs looked like 20 years ago * The mirror accountability tool he uses every single day * What proximity really means at eXp, and why it’s the #1 reason top producers stay * How a single agent went from paying her broker $400K/year to funding her kids’ college at SMU * Why every agent at a brokerage is going to leave eventually, and how to build a business that survives that * The difference between being a technician and being a business owner * What Mitch would tell every broker looking in the mirror right now Connect with Mitch: * Website [http://www.mitchribak.com] * Facebook [https://www.facebook.com/mitch.ribak] * YouTube [https://www.youtube.com/channel/UCByD0GA6Qa-yIXA5ltqtX4w] * Instagram [https://www.instagram.com/mitchribak] * LinkedIn [https://www.linkedin.com/in/mitch-ribak-8497531] * Read Mitch’s books [https://www.amazon.com/Books-Mitch-Ribak/s?rh=n%3A283155%2Cp_27%3AMitch%2BRibak] (The Big Lie [https://www.amazon.com/Big-Lie-Estate-hamster-Wheel-ebook/dp/B0CZX7WRF2/ref=sr_1_2?dib=eyJ2IjoiMSJ9.VPhViKC3dUnnfdwE65liM3UlVWWp6EsQKcEjxxisXCu0y1el4yoE82Um4I14Koa9-Wnhi4jV29oucAgqneu1_Q.h3OrwFdjCcplYYYCMMK3ZCIWPZtUcPLeQx3om1i9PiQ&dib_tag=se&qid=1777453707&refinements=p_27%3AMitch+Ribak&s=books&sr=1-2] is available on Amazon or email Mitch directly [http://mitch@mitchrealty.com] for a free PDF) Your next steps: * Download the 7-Day playbook here [https://contactus.sherrijohnson.com/playbook-7day-1]. * Schedule your FREE discovery call [https://api.leadconnectorhq.com/widget/booking/6wbXdjj4B4IMoJTW0r5l]. * Connect with Sherri on Instagram: @_sherrijohnson [https://www.instagram.com/_sherrijohnson/] The Sherri Johnson Show is produced by Heart Centered Podcasting.
29 episodios
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