The next thing to know about is Resources

When you are moving through a level, you use up resources.

 What are your resources? The first resource that usually comes to mind is money. Money is definitely an important resource. However, money is only one resource of many in your real estate game. You have many other resources.
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Your key resources in the game:
-- Money
-- Time
-- Energy
– Marketing Materials
-- Contacts/Connections
-- Professional reputation 

The next thing to think about is how your resources are used in the game. 

Think about this. As humans, we have been bartering since ancient times. We trade something we have for something we need. That’s how resources work. We trade a resource we have for something else we need or want to move forward. Often it’s currency that gets traded for goods, but not always. 

Resource allocation is another basic human instinct. It is the act of allocating a resource or re-allocating a resource from one area of life to another. It involves letting go of a valuable resource in exchange for another one that is equally valuable. Doing this is often a game changer. 

The most common resource swap is money for time. For example, you can pay money to someone for help. This buys you back your time. However, you can also swap time and energy for money. That’s what most people do when thttps://www.agentrenovation.com/door-knocking-coursehey go to work in a traditional job every day. They are trading their time for money. In the real estate game, new agents don’t have a lot of resources other than time and energy. So, new agents must use their time and energy to gain other resources that will get them ahead.  

If you ever find yourself saying, ‘I don't have__x__ resource needed for me to do __y__,” the answer is almost always re-allocating or swapping resources to get your desired resource. You are never lacking. If you are lacking funds, trade your expertise or time to earn more funds. You may also have tools you are not using that you can trade for money. There is always a solution when you take inventory of your resources and apply a bit of strategic re-allocation. That’s why when someone is good at getting things done, people say they are so “resourceful”! 

The bottom line is that resources allow you to advance your strategy and your game.

You can apply your resources to speed up your levels.

You can trade, allocate and shuffle your resources.

You can acquire new resources.

You can execute strategies on any set of resources.

In your real estate game, leveraging any of your resources to achieve your goals is always a winning move. However, how you use any of your resources is entirely up to you. This course can guide you on those decisions though and give you some strategies. 

Let’s look at how to use a couple of your key resources. 

To gain missing resources, you trade the resources you do have. Your goal as you go through the game is to gain more resources. Your ultimate goal in the game is to gain money. You have a revenue target. 

When you get your hands on more dollars, you can use them to further leverage your real estate game and level up even faster to even bigger wins. But when you are a new agent, you don't have a lot of other resources to get there. 

In the beginning, you trade your time and energy for money. As a new agent, that’s what you have most available. You can use that to gain connections and leads. Over time, that will turn into money in the game. And as you gain more money, you can choose to put some of it back into your business. You can use the money for things like materials that will help you grow your game. However, building your resources takes time. You must recognize and accept this fact and have patience.

Managing resources in your new real estate business is kind of like buying a house to renovate and then realizing you don’t have any money to put into renovations. As you get started, you must DIY it by investing more time and less money to achieve your goals. When you have more money, you can invest into hiring help and buying more materials.  

In real estate, the wisest use of money is hiring help and making your prospecting materials. The more materials you have, the more you can market in your target zones. We’ll talk more about using materials toward your goals in Module 2 Intro to Farming, Module 4 Farming Strategies and Module 5 Materials.

In the beginning of the game, you don’t want to spend your resources on expensive cold calling systems.  You also want to avoid overspending. You want to manage your resources wisely to ensure you have money available for your base materials and anything else that may pop up. To follow the house renovation analogy, repairs or surprises pop out that weren’t planned for when you started. The same is true as you build your business. You want to set aside some extra resources for when things like material reprints arise.

In your real estate game, you will also face moments when you question how you are spending your resources. Something may come up that will shift your resource spending or allocation. How you spend your resources is a question of strategy. As you advance in the game, you’ll get better at making these decisions. You will learn how to allocate in ways that move you forward more effectively. We’ll talk about various resource management strategies in Module 4, which is all about strategies.  

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