#632: The Biggest Failures While Closing $200M with Enrique Medellin

John Kitchens Coach Podcast | Life. Coaching. Real Estate

The Biggest Failures While Closing $200M with Enrique Medellin

In the latest episode of John Kitchens Coach Podcast, we sat down with a real estate professional who has built an astounding $200 million team over the past 20 years. The guest’s story is not only inspiring but filled with lessons for anyone in the real estate business or aspiring to be an entrepreneur. In this blog, we’ll unpack the highlights from the episode and dig into the key insights shared.

Reflecting on 20 Years of Real Estate Success

The guest, who has been in the real estate game for two decades, shared that every opportunity to reflect on their career brings new insights. Reflection is one of their most valuable tools for growth. It helps them understand what worked, what didn’t, and how each experience contributed to their success. As they reflected on the past 20 years, they jotted down some of their biggest failures and lessons learned. Some memories brought smiles, while others stirred up anxiety, but all of it was critical for their growth.

This practice of regularly revisiting past experiences isn’t just about nostalgia. It’s about identifying key lessons that can be applied to future challenges. The guest explained how reflection helps them stay grounded and constantly improve—an essential habit for anyone looking to achieve long-term success in real estate or any industry.

Getting Into Real Estate: The Early Days

Like many people drawn to real estate, our guest was initially attracted by the promise of income potential, flexibility, and the dream of being their own boss. But there was a deeper reason behind their drive. Growing up with a challenging background, they were determined to never work for someone else again. The idea of having complete control over their future, even if the path was uncertain, was a powerful motivator.

After high school, they found themselves working at a bank while attending community college. Everything seemed to be on track until a new manager came in and shook things up—firing the guest after two years of dedicated service. Instead of letting that experience derail their ambition, it fueled their determination to take charge of their own destiny. That moment led them to pursue a career in real estate, where they could be in control.

Overcoming Early Challenges

Entering the real estate and mortgage industry wasn’t easy. Cold calling, in particular, was a huge challenge. The guest admitted that their lack of confidence led to many rejections early on. But instead of giving up, they sought advice from a colleague who was thriving in the same environment. The colleague’s advice was simple but transformative: bring your personality into your calls, stand tall, and project confidence. This advice turned everything around.

From that point on, the guest began booking appointments and closing deals. Their confidence grew, and soon enough, they were mentoring others in the same environment. This pivotal moment was the start of a successful career, but it was just the beginning of a long and evolving journey in real estate.

Building a $200 Million Team

With growing success, the guest quickly transitioned from an individual contributor to a leader, starting to build a team. They were driven by a desire not just to succeed on their own but to help others achieve success as well. Over the years, they learned the importance of surrounding themselves with the right people—those who shared their values and work ethic.

The journey to building a $200 million team wasn’t without its challenges. The 2008 financial crisis hit the real estate industry hard, forcing them to pivot their business model. As the market shifted from refinancing and mortgage deals to foreclosures, they adapted by helping clients avoid foreclosure. They opened a loan modification company and focused on short sales and negotiating with banks, offering real solutions to homeowners in need.

This ability to pivot quickly and identify new opportunities is what kept their business thriving during the downturn. The guest’s story shows that resilience and adaptability are critical traits for long-term success, especially in volatile industries like real estate.

The Role of Mentorship and Leadership

One of the major themes of this episode is the importance of mentorship. The guest emphasized how mentorship played a crucial role in their development. Learning from those who had already succeeded in real estate allowed them to avoid common pitfalls and grow faster. But mentorship isn’t a one-way street. As the guests found success, they also took on the role of mentor, helping their team members and other agents grow in their careers.

Leadership, according to the guest, is not just about giving directions but about building a culture of accountability and creating systems that allow the business to function smoothly. It’s about empowering others to thrive and ensuring that the business runs well, even when the leader steps back. They discussed how crucial it is to have systems and processes in place to manage the day-to-day, which frees up leaders to focus on scaling and long-term planning.

Adapting to Market Changes

The guest has witnessed many market cycles during their career. From the real estate boom in the early 2000s to the financial crisis of 2008, and most recently, the low-inventory challenges post-COVID, the ability to adapt has been key to their longevity. They shared how important it is to stay on top of market trends and be willing to adjust your strategy when needed.

For example, during the 2008 crisis, the guest quickly pivoted to focus on helping homeowners avoid foreclosure. This shift not only kept their business afloat but also positioned them as a valuable resource for clients going through tough times. This lesson in adaptability is something every real estate professional should take to heart—being prepared to pivot when necessary is a cornerstone of success.

The Importance of Self-Improvement

As the episode wrapped up, the guest shared some final thoughts on staying motivated and driven. One of the most important points they made was the need for continuous self-improvement. Even after two decades in the business, they remain a student of the industry, always seeking to learn and grow.

The guest also discussed how leadership is about fostering growth in others. By mentoring and leading their team, they not only help others achieve success but also build a business that can thrive without their constant involvement.

In an ever-changing market, resilience, adaptability, and a willingness to learn are essential traits for any real estate professional looking to build a lasting career. The episode reminds us that success isn’t about avoiding failure; it’s about learning from those failures and using them as stepping stones to build something even stronger.

Key Takeaways:

1. Reflection Drives Growth: Regularly reflecting on both successes and failures helps you learn and adapt in business and life.

2. Mentorship is Crucial: Learning from others and mentoring those who come after you are essential for long-term success.

3. Adaptability in Crisis: Being able to pivot during tough market conditions, like the 2008 crisis, is vital for survival.

4. Leadership is About Empowering Others: A successful leader creates systems that allow the team to thrive, even in their absence.

5. Never Stop Learning: Continuous self-improvement is the key to staying ahead in any industry.

Connect with Us:

• Instagram: @johnkitchenscoach
• LinkedIn: @johnkitchenscoach
• Facebook: @johnkitchenscoach