Above, Andy Allen
Andy Allen is living the dream.
As a youth, the Austin, Texas team leader thought bodybuilding would provide the pathway to his success. But a suggestion 32 years ago from his investor parents led him to the world of real estate, and his competitive spirit did the rest.
Last year, with a team of four agents and two administrators, he spent $35,000 farming an area of 2,600 high-end homes, and earned $1.13 million in commissions – and, he said, he did it while working no more than 25 hours per week.
“I wake up every morning fully aware that I’m living this unbelievably charmed life,” said Allen, whose team has been ranked number one within Keller Wiliams and 15th in the nation by the Wall Street Journal. “Now, it’s my passion to inspire others to do the same.”
Thus was born Allen’s ’80 Percent Project,’ a coaching program based on his book of the same name and focused on helping others achieve wealth and work-life balance while devoting 80 percent of their time to personal pursuits and just 20 percent to their business.
“Real estate offers incredible opportunity for those who are super-motivated,” Allen said. “Nothing makes me happier than sending one of my team members out into the world with the skills and drive to create incredible teams of their own.”
Barbara Pronin: To what do you attribute your own early success, Andy?
Andy Allen: The simple answer is coaching. I’ve been with Keller Williams from the beginning of my career. I was coached by the incredible Gary Keller, and I happily hired other giants in the industry, who made me realize that financial success should never come at the expense of work-life balance. I lived that realization from the time my mother was sidelined with Alzheimer’s and I drove many miles back and forth each week to spend as much time with her as possible. Now that my father is alone, I spend most of a day each week with him. Over the years, I took time to coach all my kids’ sports team and take memorable family vacations. Plus, we live in an 8,000 square foot home with all the bells and whistles. Who gets to live that life? There’s just no ceiling in real estate.
BP: What led you to create your first team?
AA: Three years into my own career, I realized the value of teaming. It was a relatively new concept in 1993, but I knew it would provide some leverage – that if I chose the right people and coached them to live their dreams, they would not only reach their ultimate goals, but have an amazing life along the way. Of course, I succeed when they succeed, but I also treat them lavishly in and out of the office.
BP: Making others successful is a lofty goal. You must be very selective in recruiting.
Andy Allen: Yes. I look for talented people from outside the industry who are super-competitive and motivated to succeed – athletes, top salespeople, corporate executives with proven people skills – and I train them to use their unique attributes to forge a hugely successful real estate career while living the 80 percent rule. All I ask of them is a verbal three-year commitment.
BP: Could you elaborate a little on your 80 percent rule?
AA: Sure. Imagine a pie chart of your life divided into five sections. In my view, work should take up one section, or 20 percent of your time. The other four sections, all equal in size, should be family, spirituality, personal pursuits, and financial management. My book, ‘The 80 Percent Project,’ shows a step-by-step process for achieving exceptional results, living an unimaginable life, and creating generational wealth.
BP: How do you, as team leader, manage to keep raising the bar?
AA: Our team culture is one that thrives on challenge and personal motivation. I’ve had teams as large as 11 over the years, each following the 80 percent rule and closing an average of 4.25 transactions a month. I stepped away from selling at that point to help guide their incredible journeys. The 2008 recession slowed us down just long enough for me to shift my focus. I pared my team size down with a mandate to focus on the luxury market, and I stepped back into sales, which I really missed. Thus far this year, we’ve closed 57 transactions for a total of $57.3 million in sales, and I’ve just brought on two more agents in preparation for a recovering market next year.
BP: What’s your best advice for team leaders just starting out?
AA: Don’t undervalue the need for personal coaching. You need to be the role model for your team. Look outside the industry for talented people, and be their inspiration. There is just no ceiling in real estate.
Andy Allen Team Listing
14608 Flat Top Ranch Road
Austin, Texas
Gorgeous 2.5+ acre Lake Austin waterfront estate situated behind the gates of Bellagio Estates. 5 bedrooms, 6 baths, 5,317 square feet. Built in 2014.
To see the full listing, click here.
To visit the team’s website, click here.
