They were closing deals, winning brokerage awards, and looked like top producers on paper. But the morning after the award ceremony, Josh Ries looked at his bank account and realized the numbers told a completely different story. After expenses, lead generation bills, and a stack of software subscriptions he wasn't even using, there was almost nothing left. Within about two years of rebuilding their system from the ground up, Josh and his wife cut their cost per acquisition by nearly 80% and finally built a business that actually paid them.

Josh Ries is a managing broker in South Dakota, a lead generation consultant, and a weekly contributor to Inman Magazine. With a background in digital marketing and law enforcement, Josh brings a data-driven, no-nonsense lens to the real estate business that most agents never get exposed to.

In this episode we get into the math that most brokerages never teach, how Josh rebuilt his entire lead generation system after firing every third-party lead vendor, and why the busiest agents in your office might also be the most broke.

Inside this episode:

• The award ceremony wake-up call: closing deals, getting recognized, and barely covering next month's lead gen bills
• Why there is no such thing as a free lead, and how to calculate what you are actually paying
• How Josh cut his cost per acquisition by nearly 80% using his own Google and Meta systems
• The relevance and continuity framework that increased his conversion rate without spending more
• What a pipe bomb, a traumatic brain injury, and a near-death experience taught him about building an efficient, profitable business

Want to connect with Josh? Follow Josh on Instagram: @realestatebrokerjosh Read his weekly column on Inman: www.inman.com Visit his website: www.myrealestateco.com

If you are grinding through closings and wondering where the money went, this episode will change the way you look at your business. Subscribe, share, and follow for more interviews like this.