PROPERTYSPARK INTERVIEWS: Mike Sherrard, Real Estate Agent

A modern agent disrupting the real estate industry through creative and innovative social media strategies that attract at scale.

 Calgary, AB

 eXp Realty

 Mike Sherrard  |  mike_sherrard  | agentwolfpack.com  | training.socialstrategymastermind.com |   Mike Sherrard 

What inspired you to start in real estate and how did you motivate yourself to keep going?

I was previously an Engineer and did quite well early on. However, I quickly realized that I would never be able to be compensated based on my effort and going the extra mile when I was working a corporate job with a salary. During University I started reading cliche books like Rich Dad Poor Dad and never thought I would become an agent, but I soon realized after being frustrated with being an employee that becoming a Realtor could be a great opportunity to learn what I have always been passionate about, which is marketing, branding and sales. When I got in, I ended up starting with door knocking and went out the first night I was licensed in -10C, in the dark, while it was snowing, and got my first two listings at $700,000 each. I door knocked every day, for 3 hours per day, for the first 6 months and ultimately what motivated me to keep going is that I knew I had potential and I didn’t want to have any excuses for not fulfilling what I believed I could achieve. I’ve always been an extremely competitive person and wanted to ensure that there wouldn’t be one single agent in my market that could outwork me. I’ve got a very solid “WHY” in regards to my motivations in life, and I always revert back to it whenever times get tough to continuously remind myself why I am making the sacrifices I am, working from 4:00am until midnight 7 days per week, and it allows me to always stay focused on the goals while enjoying the incredible journey.

Comparing your business from back then to now, what has been the main thing that allowed you to expand your business?

The biggest thing has been properly leveraging Social Media, and more specifically, personal branding and content. Door knocking was great for getting started as a new agent, in a new city, with no sphere or experience… however, it is not scalable and so long as you are trading time for money, you’ll never become wealthy. I quickly realized Social Media marketing gives you the ability to target your ideal clients for incredibly cheap in a very effective way, and Social Media content gives you the ability to build the “like, know & trust” factor with your clients without having to spend a single dime. Once I started running ads on Facebook, and pairing it with consistent content on both Instagram and YouTube, my business changed forever and allowed me to go from making 6-figures per year, to 6-figures per month while getting more time back to enjoy the things I love in life.

What’s the most profitable aspect of your business, why do you think this is and how can others apply this to what they are doing?

The most profitable aspect of my business is without a doubt my personal brand. If a Realtor is relying on the brand of their brokerage to create recognition and trust with their clients, they are going to have a lot of trouble growing their business. If you look at any powerful brand, take Ryan Serhant for example so we can relate this to real estate. I couldn’t tell you what brokerage he was with before he started his own, but when I thought “New York real estate” I thought Ryan Serhant. When you have a powerful brand, a few important things happen.

1. You not only become, but you also remain, top of mind.

2. Opportunities present themselves to you more frequently. In my case, this was having the opportunity to work with builders who chose me over agents with 10-20 more years in the business, because of my brand. 

3. The right type of clients come directly to you, and the wrong type stay away.

4. If you have a strong personal brand, listing presentations become more of an open consultation instead of having to pitch yourself because people have already made up their mind that they want to work with you.
Every agent should be actively working to grow their personal brand to get to the point where business comes to you, like a lighthouse, instead of having to go out and find new clients every day.

When did you realize you were successful/made it and how did you feel/celebrate?

I still don’t feel that I “made it”. I’ve got big dreams and goals, and I’m truly enjoying the journey I am on to achieve them. It was an incredible feeling at the agent of 27 to be able to order my dream car, a brand new Lamborghini that I personally spec’d, but otherwise I prefer to give to others and am grateful to be in the position that allows me to do that frequently. To me, success is fulfillment in all aspects of life… financially, spiritually, emotionally, mentally and physically, so I am simultaneously working on each to proactively work my way towards what I would call successful.

Looking back, what could you have done sooner to get to that point quicker?

Looking back, I certainly would have done the following 3 things:

1. Joined the brokerage I am now with, eXp Realty, sooner, as it would have allowed me to collaborate with all of the incredible agents that have reached out to me over the years, regardless of location.
2. I would have put more effort into YouTube earlier on.
3. I would have done better at follow up.

What should other real estate entrepreneurs reading this be focusing on to expand their own business?

I believe other real estate entrepreneurs should focus on growing with the times. Real Estate is still an incredibly archaic industry and far too many agents are trying to ignore the necessity of learning how to properly implement technology into their business. We all know the saying, as terrible as it might sound to some, that “it’s not what you know, it’s who you know” and in real estate, it couldn’t be more accurate. The beauty about the time we are now living in is that agents with almost no experience have an opportunity to become wildly successful quite quickly in this industry just by leveraging social media with the understanding that it allows more people to get to know you, for free, and agents who turn a blind eye to learning these strategies at some point in the near future are going to not only regret it, but fall behind.

How has social media and online marketing affected your real estate business? How much more success have you had now after implementing social media and online marketing efforts?

Social Media and Online Marketing have completely changed by business forever. Door knocking was great in the beginning as it allowed me to control how many people I got in front of each day, but what I quickly realized from talking to people who were very successful is that they trade money for time (and understand that time is the most precious commodity in the world because you can’t get it back) whereas I, like most agents, was trading time for money. Social Media is the most direct, cost effective and intentional way to get in front of every potential buyer and seller in your market for pennies on the dollar. Once you start understanding retargeting, custom audiences and lookalike audiences, you will truly realize the power of these strategies. It’s allowed me to be the top producer at my brokerage the month I was on vacation in the Maldives, and it’s allowed me to get to the point where I attract 100% of my business without having to spend a single dime.

How did you build your team?

I built my incredible team at eXp Realty by doing one specific thing… overdelivering on value. I wanted to make sure that not only do people who join my team get to leverage the amazing opportunity that eXp Realty provides in terms of two additional income streams with the stock and revenue share, the cloud based brokerage and the ability to scale globally, but also I wanted to ensure that my group specifically provides an unparalleled about of value compared to alternative options. I made the decision to give all of my social media training, weekly mastermind calls, 1 on 1 mentorship with access to me personally at all times, custom branding and marketing plans, listing presentations, and everything agents needed in order to be successful the modern way, to everyone who joins me… for free.
When you lead with value, people will naturally want to be a part of your group and therefore you don’t have to solicit people with the hope of convincing them of why they should join you.

How did you become a good leader?

Becoming a good leader is a never-ending journey, but there are specific things I do that have helped me get to where I am today as I continue to grow:
1. Being selfless and doing everything I can to help others succeed.
2. Setting the pace and leading by example.
3. Walking the walk, not just talking the talk.
4. Acknowledging peoples strength, and helping develop their weaknesses.
5. Being extremely positive, and focusing on opportunities.
6. Admitting my own flaws, and being very relatable.
7. Focusing on giving, not receiving.

Did You Experience Failures? If So, What Did You Learn From Them?

I constantly experience failures. Any “successful” Entrepreneur will tell you that they fail more often than they succeed. Failure is not only a part of the journey, but it’s where the greatest lessons are learned and as long as you are failing fast and moving forward, it will help you grow much quicker. The biggest thing I’ve learned is to not look at failure as a step backward. There is an acronym that I love to use:
F – First
A – Attempt
I – In
L – Learning
When you “fail” at something, quickly figure out what you can learn from it so that you don’t make the same mistake twice, and leverage it as an amazing opportunity to grow.

What do you consider the main differences between those people who have been successful in your industry and those who have failed?

In my personal opinion, the only difference between those who succeed in real estate, and those who fail, is the ability to stay accountable. You can be wildly successful in real estate no matter what direction you take… Whether you prefer cold calling or door knocking, whether you prefer Instagram or Facebook, it doesn’t matter. The biggest problem people have is being accountable to the daily activities that are proven to lead every person that follows them to success. As someone who is self employed, if you don’t record that video… no one says anything. If you don’t prospect today… no one says anything. If you don’t do anything… no one says anything. The day you become self accountable and don’t have to rely on a coach, a brokerage, or any one other than yourself, is the day that all of your dreams will come true quicker than you ever could have imagined.

What’s Your Approach To Marketing?

My approach to marketing has always been the same approach I have towards my team… lead with value. Most people have read, or head of, the book Jab Jab Jab Right Hook by Gary Vee. Give Give Give then you have earned the right to go for the ask. All too often Realtors go for the ask immediately. They message their database asking if they know anyone looking to buy or sell. They run Facebook ads for “free” home evaluations. They focus on what’s in it for them, not what’s in it for the client. I much prefer to overdeliver on value, information and insight that will help educate my potential clients and in turn, when you give enough, most times you don’t even have to go for the ask because the favour will naturally be returned willingly.

“You will get all you want in life if you help enough other people get what they want”.

Final Thoughts

All I want you to know is one thing YOU CAN DO IT. Don’t let anybody hold you back, or tell you that it’s not possible. Along my journey I’ve had my fair share of people telling me that I won’t succeed in real estate… and here we are today. I’ve had people tell me my content is stupid when I first started using social media, and now I rank #1 in the world on YouTube for every social media platform related to real estate. I’ve had people tell me I’ll never be able to afford my dream car, and I just ordered it. You have the potential to achieve everything in your wildest dreams… all you have to do is one thing. Believe in yourself.