RG 184 – Tribe of Millionaires: Empowering Business Owners to Live Epic Lives w/ Mike McCarthy
Mike is an entrepreneur, speaker and author of the book Tribe of Millions, he is also a co-founder of GoBundance. Mike is the regional owner of the Keller Williams greater Pensylvania region where he oversees 50 offices and 8500 agents who have closed over 52,000 units. These agents have made over $14 billion in sales. Mike made his first dollar reselling candy at school and attributes his success in his career to the individuals who have kept him on track throughout.
Mike is the son of a broker and he swore that he would never go into real estate but when he was turning from a teenager to an adult he realised how smart his father really was. When he realised this he graduated from college and went to work for his dad for $8 an hour. Over time he began to take over the recruitment side of the business and then became a franchise salesman. His father is still in the business today but Mike bought him out so he acts as a partner who helps him make all the important decisions.
Keller Williams is a mostly residential company although it does have a couple of commercial brokers but it’s mainly a residential brokerage franchise. Mike has a contract with Keleer Williams where they retain the profits as the owner of the franchise and then the profits are split with the agents. Mike makes money on each transaction in the form of royalty fees so they collect on every sale. Gary Keller and Mike have sold the rights of the franchise to someone else which adds an extra layer of ownership. Keller Williams is the number 1 in the US by agent count, volume and number of units and currently 10% of all homes in the US are sold by KW.
When Mike was a younger man he was a bit of a fool in his career, and then he got involved with GoBundance and had to relearn how to be a good leader which helped in all areas of his life. He says you can’t rest on what you’ve accomplished but instead look forward and see what you can be doing. His wife leads the GoBundance family group for parents and children and he wants to create for others the feeling he had when he grew up with his supportive and entrepreneurial father. GoBundance started with Pat and David and Tim joined a couple of years later. Mike arrived 5 years later and brought more men to the events which eventually turned GoBundance into a mens retreat initiative.
- Most important habit – Meditation
- Most influential person – His father and Gary Keller
- Most important tool – Oura health tracker