Most real estate agents chase quick wins. They buy leads, follow shiny objects, and hope one big deal changes everything. But the agents who build lasting wealth play a completely different game: one built on relationships instead of transactions.
On a recent episode of my podcast, Make Yourself at Home, I explored this exact mindset with Ricky Carruth of The Diamond Group at eXp Realty. Ricky built an eight-figure real estate business as a solo agent, closing over 1,000 transactions without ever building a team. We discussed what it really takes to build sustainable success to help agents, investors, and homebuyers better understand how relationships, not shortcuts, create real wealth.
Here’s a preview of that episode:
Why I Had This Conversation
I wanted to talk to Ricky because he has lived both sides of the story. He made a million dollars early in his career, lost it all in the crash, and rebuilt his business the right way the second time around.
That rebuild is what makes Ricky worth listening to. He is not theorizing about long-term wealth from the sidelines. He is describing exactly what he did differently once everything fell apart, and how that shift turned him into one of the top producers in his entire market, year after year. He eventually retired from active sales in 2022 to focus on coaching agents full time through his Zero to Diamond coaching program, which is exactly why his perspective on building a business the right way carries so much weight.
Watch the full episode here:
Real Estate Is a Compounding Relationship Game
Ricky's biggest realization came in a Walmart parking lot at two in the morning, after losing everything. He had chased lead generation tactics for years without ever building anything that lasted.
His fix was simple. Every activity he tried (no lead source, no script, and no closing technique) would get him to a million dollars in year one. But almost any activity would still get him there in three to seven years, as long as the people he met never forgot him.
Stair-Stepping Beats Chasing the Moon
Once Ricky understood the compounding nature of the business, he stopped expecting overnight results. He started thinking about his income as a staircase instead of a rocket ship.
Building long-term wealth in real estate means accepting that there is no shortcut to the top. There are only small, steady steps, with each one built on relationships from the step before it.
"There's no quick road to the moon. There are only small stair steps each year, and it's a compounding relationship game over time, as opposed to a game of getting people to close deals today."
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That mindset also changed how you treat clients. Ricky stopped trying to get people to do what he wanted and focused entirely on helping them do what they already wanted to do.
Real Wealth Is Bigger Than Net Worth
I asked Ricky what real wealth means to him, and his answer went far beyond a bank balance. He talked about avoiding what he calls the golden wheelchair, the trap of saving for decades only to reach 80 with no health left to enjoy it.
The Coming Decade Favors Prepared Agents
Ricky is genuinely excited about where the market is headed, and his reasoning is built on numbers rather than hype. Population growth, a shrinking supply of new construction since 2008, and a wave of 30-something first-time buyers are all converging at once.
"We have more pent-up demand from sellers, more pent-up demand from buyers, more existing homes than ever, and a higher population. How does that not set us up for a massive decade of transactions?"
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He compares this moment to Noah building the ark before the flood. You prepare before the wave arrives, not after. As for AI, Ricky sees it replacing agents who never adapted, while making great real estate agents far more efficient and in higher demand than ever.
What Changed for Me After This Conversation
"I couldn't sell you a home if I tried. What I can do is walk you through the process and keep you as safe as possible in it."
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That line changed how I think about my own role. My job was never to convince anyone to buy or sell. It is to make sure they have the information to make the right decision for their life, whether that means buying now or waiting.
When serving my clients through At Home in the Carolinas, I now lead every conversation with that same question: “What is actually best for you, regardless of what it means for me?” That has made every client relationship stronger.
Want to hear my full conversation with Ricky on how to build long-term wealth and achieve success through real estate?
Frequently Asked Questions
Who is Ricky Carruth?
Ricky Carruth is the founder of The Diamond Group at eXp Realty and creator of the Zero to Diamond coaching program. He built an eight-figure real estate business as a solo agent and has coached thousands of agents since retiring from active sales in 2022.
Why does Ricky Carruth avoid buying leads?
Ricky built his entire business on long-term client relationships rather than purchased leads. He believes lead generation activities matter less than consistently staying in front of the people you already know.
How can I find out what my home is worth right now?
If you are curious where your property stands in today's market, our home valuation tool gives you a fast, accurate starting point before you decide to sell.
Where can I look at current listings in the Carolinas?
If Ricky's outlook on the coming decade has you thinking about buying, you can browse homes for sale in the Carolinas to see what fits your goals and your pain threshold right now.
What is the biggest mistake agents make when trying to grow?
According to Ricky, the biggest mistake is chasing shiny objects instead of committing to one relationship-building activity long enough for it to compound. Consistency over years, not novelty, is what separates top producers from everyone else.
Apply as a Guest on the Make Yourself at Home Podcast
Real estate is evolving, capital is shifting, and markets are tightening. And the agents, lenders, and investors who understand what is coming next are the ones worth featuring here. If you are actively working in the industry and solving real problems, whether in brokerage, lending, investing, or development, I would love to hear your story.
Conversations like the one I had with Ricky Carruth of The Diamond Group at eXp Realty are exactly why I keep doing this show, and why I am always looking for the next guest with real lessons to share!
Make Yourself at Home is produced by Icons of Real Estate, the #1 Real Estate Podcast Network. If you are a real estate professional, apply to be a guest speaker across the network!
