Startup Fortune, July 3, 2020: Ricky Carruth has proven himself time and again by selling over 100 homes a year since 2014. But it wasn’t always sunshine for the college dropout who went from making bank to going bankrupt during the real estate crash in 2005. This reality check transformed Carruth’s mindset which made him into the success that he is now. These days he spreads his market-proof approach to other realtors around the world for free.
Hi Ricky. Tell us about yourself and your background.
I grew up in Alabama in a blue-collar family learning about the definition of hard work from my parents. I got a full scholarship to college but dropped out to pursue real estate.
What happened next?
I did well at first and racked up a cool million in realtor fees by the time I was 25. But lost it all when the market went bust.
How did you handle that?
I went to work on an oil rig to make ends meet. I took that time to read hundreds of books and formulate my new approach to real estate.
Tell us about this new strategy.
In a nutshell, it’s about building relationships because money comes and goes, but people are here forever.
How did this work out for you?
I got back into the game in 2008 and my strategy was tested when the BP oil spill rocked the Alabama real estate market in 2010. By sticking to my core belief of selling homes not houses, I ended up generating $150,000 in realtor fees during the year after the spill.
Why did you start sharing your “secret sauce”?
The feeling of helping others is incredible. I am the world’s first free real estate coach with over 22,000+ agents in my program, over 38K+ subs on YouTube, 220K+ on Instagram, and 50k+ downloads a month on my podcast.
What is the biggest obstacle you’ve overcome and what did you learn from it?
My biggest obstacle was getting back on my feet again after the real estate market crash. From this, I learned to not be afraid of fear.
Fear is one of the main ingredients of the recipe for success. Without fear and rejection, you cannot and will not succeed. If you do not face your fears, you are extremely selfish.