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All right, welcome back to the Hyper Fast Agent Growth Show.
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We're back with our panel.
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Short Nick today.
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He's on a uh listing appointment, I think, and uh might be popping in later.
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We've got a lot to talk about.
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So uh for you college football fans, you might have seen uh the Clemson LSU game last week, and I think there's a parallel there between uh Diabo Sweeney, the head coach of Clemson, and agents who refuse or are hesitant about using AI.
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So we're gonna talk about that.
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Uh overpriced listings, what activities agents should talk about or should track every single day.
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Uh, fear versus opportunity.
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And if you're selling the same amount of homes in this market for the past three years, are you actually on track ahead or behind?
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So uh let's dive into AI and um you know let's talk about Dabos Sweeney Clemson.
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Guys had tonic success as a head coach, probably most successful coach ever at Clemson.
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He's won two national titles, and college football has undergone some big changes in the last five years.
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Like you can pay players now, there's transfer portals, and you know, you can you can in in four or five years you can play for that that many teams, and it used to be you had to sit out, and we've seen a rapid decline of of coaches that refuse to adapt to this, right?
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Like you know, Clemson, for example, has gone from a powerhouse to Alaska.
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And you know, got got pounded against LSU 51 to 10, and that's against a head coach, Lane Kiffin, who's controversial but really embraces these new changes, like had the most transfers, totally overhauled the team in between the last season.
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And you know, I know there's a lot of real estate agents out there who are afraid of AI or think it can't do um what they can do, and it can do a lot of what you can do, right?
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So um we'll we'll kick it off to Carl here.
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You know, if you're a real estate agent and you're not embracing AI, are you becoming the dabbo sweeney of real estate?
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I think you're gonna be left behind, and I think you need to be willing to go back to basics.
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I'll take the football analogy to another another level.
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You know, with all the NIL stuff, we've seen some talks about some players that were on NFL rosters, didn't pan out, want to go back to college.
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Well, if you're making more money in college than you are going pro, who cares?
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Right?
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I mean, it's just do what's going to better support you and your business, better support your family.
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And I think that we have to be coachable and adaptable and willing to learn no matter how much experience we have.
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I hate when it like a lot of people in our business love to be like, I've been doing this for 25 years and want to swing around their like longevity and the how long they've been in the business.
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But if you're not keeping up with what's going on, there's that that's opportunity for newer people in the business to come and take market share.
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A lot of the times the the clients that we're talking to, they're gonna hire the person that is going to be the most confident and make them feel the that they're going to be in the best position, regardless of how much experience you have.
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And AI is gonna help you do that.
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Yeah, James, are you still with us?
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Internet not working so great.
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Alright, yeah.
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So what's what's your take on it?
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Like, do are are agents who don't adapt and start using AI, are they are they in danger of being left behind?
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100%.
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100% agents that aren't adapting and learning and using the newest tools.
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It's like like what real estate agent do you know that is faxing contracts?
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You you got you gotta adapt uh and you gotta because adapting to the new tools is giving you either a competitive advantage or at least helps you keep up, right?
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Uh when when you guys find a real estate agent that's faxing contracts, you let me know.
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Uh they they either retired or they adapted.
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Yeah, I agree.
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So um let's let's talk about some of the AI wins that we've each had recently.
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So I'll I'll go first with mine.
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Uh I went on a a for sale by owner uh listing appointment over the weekend, over the holiday weekend.
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And a lot a lot of challenges in it.
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They've got six more months on their tenant's lease.
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So like that takes out all of the you know primary occupancy owner, right?
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Because like a lender's not gonna let you move in with six months on a lease.
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Uh they've they've got a property identified already that they want to buy in 1031 and you know roll the proceeds into.
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So they've got some timelines there, they've got pictures that they took when they moved out before they rented it in 2008 with a cell phone.
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So they're like cell phone circa 2008 quality photos.
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Uh and the tenants have three dogs, right?
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So, like, that's not gonna make showings easy.
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So lots of complications, like and I told Carrie after, like, yeah, this is what we got going on, and you know, it's probably one of those ones that you you stay in touch with and you you get down the road, right?
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Um and she plugged the the challenge, the scenario into Claire, our AI tool.
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And you know, then we went and did something with the kids and came back 30 minutes later, and it had done all the research on comps for you know what it would sell for with like 2008 cell phone quality pictures, uh with no primary occupancy, you know, allowed, right?
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So that that buyer pool is gone.
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And it it did an analysis of them, like what they'd get in that scenario, what they'd get if if they did a light renovation and and you know, paid the tenant some money to move out early, and it did this like detailed analysis that probably would have taken an experienced agent like one to two hours to do and draft the email.
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I mean, it was it was a long email, uh lots of links and and analysis.
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And as a result of that, like you know, the the seller read the email the next morning, had a phone call, we got the listing.
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Um now there's there there's um a lot of work to be done to like coordinate all this part, like the the tenant situation, the contractors, and getting on the market.
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So still like work ahead and um and yes, you could have done that without AI, but it saved like two hours at least, probably more.
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And you know, that's just like one example.
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So the agents that aren't embracing AI, like they're simply just not gonna have the same capacity as the quality agents that do.
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So that that's my big win of the week on AI.
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Um Nick, we'll give you some time to to think because you just popped on.
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But James, what about you?
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What's your what's your biggest AI win lately?
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You know, my biggest AI win is uh a platform that's integrated into my CRM follow-up boss that is texting and calling and using um using meta ads to re-engage uh buyers and sellers that have ghosted and disappeared because they weren't ready yet.
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Uh and so, you know, when I'm out and about meeting with people, uh, this platform is calling and texting people.
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Uh, and that's frankly been a game changer in getting people re-engaged.
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Uh and so that's been what what platform is that?
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So that's Y Lopo.
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Y Lopo, okay, awesome.
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Yeah.
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And sometimes people know the voice is AI, sometimes they don't, but it it doesn't even really matter.
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Um, you know, they're they're re-engaged uh and it tees it up.
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They either do a a live transfer to me or they say, hey, this person responded.
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Now's a good time for you to reach out and get that conversation going.
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Yeah, we've been implementing that live transfer as well.
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I think last week alone, four appointments came from that.
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So um awesome.
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What about you, Carl?
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Easy one.
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So for backstory, me and an agent have a buyer that in her market average home sells for about$430,000.
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She's in uh in Maryland.
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And she's only approved to buy a house up to$300,000.
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Her parents are gonna live with her, her parents are gonna contribute, but we couldn't include her parents on the financing with a minimum down payment because her parents don't have any residency status in the states.
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They don't have citizenship, permanent residency, they don't have a work permit.
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So that really like they can afford a lot more than what they can get approved for on paper, since we're only operating based off of the daughter's income, doing only the loan in the daughter's name.
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300,000 is not really going to give her a lot of inventory when the average home is 430,000.
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The agent found a great fixer upper property, and then we put the the pictures of the home into AI to help it generate a few different ways that we can renovate the property, put that in front of the buyers, and we're gonna do a renovation mortgage for her to finance in whatever the minimum required work is for it to pass a conventional appraisal.
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And the dad is a general contractor and he's gonna do the rest of the work himself after closing.
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And it allowed the agent to help the buyers visualize what they could make the home into, and it helped him find inventory where most agents would have just gave up and said, hey, like what the their needs list is as far as what they're looking for in the home is just not in alignment with what they're approved for.
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So instead of giving up, he called around, found this off-market fixer upper property, and then we used AI to help the buyers envision what they could turn it into.
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Incredible.
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Awesome.
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All right, Nick, biggest AI win lately.
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Yeah, I think that's really cool, Carl.
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Actually, um, I I would, you know, kind of piggyback on what James said.
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So I'm in a CRM called Lofty now, um, and it has a tool called B that uh engages, you know, leads.
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Um, so I have you know, sphere, homeland seminar leads, um, fellow leads, right?
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That I've that I've called.
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And so um just just uh be having those conversations with people to re-engage and tee them up.
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And it's not always that um, you know, that they're that you know, she, right?
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She's calling people.
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So I don't have that that feature.
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Um, but she's sending the text messages, responding to some of the houses that they're saving, and um, you know, really creating a situation where I know exactly who to reach out to um about what.
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And I think that that's that's been a been a huge help.
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All right, so there you go.
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You guys have heard plenty of examples of how you know each one of us is using AI to provide better service, provide faster service, save time.
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And you know, I I again I think Nick, you missed the intro to this, but I I think the real estate agents who resist AI, whether it's out of some noble like I idea that they do everything or or whatnot, you know, they are at risk of becoming the dabbo sweeneys of real estate, right?
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Like, you know, he came in, um, or NIL came, transfer portal came, and you know, he's still trying to develop you know quarterbacks over three to four years, and that just doesn't work in the in the power four conferences.
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And so, you know, if you want to be performing at the highest level, right?
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Uh you have to embrace AI and look at how you can use it to provide better service, faster service, and save time.
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And uh, you know, again, the human element is still gonna be there, right?
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Like you still need the the lane kiffins of the world to come in and and fire the troops up and you know create that us versus the world mentality and and whatnot, or whatever your technique is, right?
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You still need the human element, but uh you have to you know be using modern techniques and technology.
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All right, let's move on to our next question.
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It's been a few years of a challenging market.
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And do you think you know if you're an agent and you've been selling the exact same amount of homes uh each year for the last three years, are you falling behind?
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Are you you know staying stagnant, or are you actually gaining ground?
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Start off with you, Carl.
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You're getting an increased market share.
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So if your business is staying from a production standpoint, staying at the same numbers when your average agent is doing considerably less business, you're getting more market share and you're actually growing a stronger business.
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Like you can't just look at the actual numbers for your own business, you have to look at what that is in relative to the rest of the market.
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And I I think that like long term, like when when it gets easier to get business, you're gonna have a bigger market share and you're gonna have bigger numbers overall.
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So I I think you have to measure yourself against how many transactions there are now compared to where they were when you were doing the same number three years ago.
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All right.
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What about you, James?
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Yeah, for sure.
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If you're doing the same business as you were last year, two years, three years ago, uh, you're you're crushing them.
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Uh there are lots of headwinds, and it uh, you know, it's like every every six months it gets a little tougher.
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Uh and the word crucible comes to mind.
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Um if I'm not mistaken, a crucible is uh an experience that is really hard that you got to go through that forms you and makes you.
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And I think this is one of those crucible moments in real estate, and it's a it's a long drawn-out crucible moment.
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But the agents that are fighting and surviving and doing just as good as last year, um, you know, that's that's making them.
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And it's making it so that they're gonna be stronger when there are any improvements in the market.
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But I think it's especially important to put into place systems right now so that when the market improves, you're not just getting busier and then like hitting capacity, you're gonna get busier and able to process more business.
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Nick, do you agree so far?
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Yeah, I mean, that's an interesting perspective, right?
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Um, kind of how Carl Carl laid it out.
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It's like, hey, you know, the market's down overall.
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Like agents are doing less deals.
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So if you're still doing the same amount of deals, you you know technically have you know more market share and um you're you're you're kind of producing when other agents have stopped producing.
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So that's a very optimistic um you know message you can give yourself.
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I think that um if you're doing the you know same amount of deals, higher price point, you're you're up, right?
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Your GCI is up, your volume is up, so that's great.
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Um, but I think typically what I've what I realize is like agents kind of do the same range, right?
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Like, you know, 20 to 30 deals, 40 to 50 deals, you know, 15 to 20 million in volume, right?
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Like you kind of operate um in a range.
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And so I think if you're you're hitting that same range, um, you might be making more or less money or doing more or less deals, but you're still operating in your your your business, right?
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And so um, yeah, I mean, technically I think you're doing less deals, right?
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But uh, but I I think technically your business is not growing, right?
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But maybe you're operating in your range, and you know, that might be the capacity that you have um to to operate in anyway.
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Well, I will I will kind of be less generous, I guess, in my assessment than everyone else so far.
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I think if if you're doing the same amount of of volume and GCI, like and the market's down, yes, technically you're you're you're gaining market share.
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And you know, if you want to hang your hat on that, great.
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But market share's not gonna pay for higher groceries, market share is not gonna pay for higher gas bills, right?
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So, you know, you have to be honest, you probably are slipping financially just with inflation, and and we're not seeing any signs of that really getting better.
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So um, you know, don't beat yourself up, right?
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Like and have that get in that negative self-talk cycle, right?
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But but really assess if you know the income you're making today is that providing you what you what you need in life and and and maybe what what it could in 2020, 2021, right?
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And and and you know, take a hard look at and and use that to motivate you and and and push for more, right?
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Because again, market share is not gonna pay for five dollar a gallon gas.
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I agree.
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I was Carl went optimistic, so I stayed optimistic too.
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But my initial uh my initial was like, no, bro, you're you know, it's it's the same like in sports, like right, if you score 25 points a game and you didn't score 26 the next season, like you are stagnant, even if everyone else is scoring less points.
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So I understand Carl's perspective.
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I think it's like a really good perspective, you know.
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And I guess like like that's a good economics, you know, like an economist way of looking at it, right?
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But um, yeah, if you're not doing more deals, your business is stagnant.
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And I guess, you know, how Dan wrapped it up is like, is it good if your business is stagnant because everything else is expensive?
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So I'm I'm I'm residing with Dan and being harsh.
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All right.
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One one someone over.
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So so get out there, make more calls, right?
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Have more conversations.
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Um you know, you're gonna have to work harder for longer uh than than than than you in most scenarios, I think.
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Um, but the good news, like if if you gain in market share and you actually increase your income, imagine what will happen to your business when the wave comes back, right?
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Because uh, you know, the the the surfers that paddle and do the work and get ready, like they're the ones that have the best ride.
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And you know, we're we're four or so years into this down cycle, and most down cycles in real estate, that doesn't mean this one will be the same, but most of them are in that four to six year range.
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Uh, you know, the last one in 2008 was was right in that four and a half or so year range.
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So um be ready when the wave comes back, right?
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Be ready to to ride it longer and further and and and and do the work now.
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And if if you're an agent that's motivated by that, wants to put in the work, um, you know, you're the type of person we would love to have in our exp legacy family.
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We're gonna be right there with you paddling and and and and putting in the work and and you know, getting you on our masterminds and our Zooms and getting you access to our training and courses.
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And you know, we're partnered with Tim and Julie Harris uh at EXP Reality.
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They're they're some of the the biggest you know people in the company, have over 3,500 people in their group and offer their training and coaching to to our group as well.
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So, you know, we'd love to have that conversation with you, right?
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And and show you how you can save on your commissions and fees and and you know, earn stock awards, build revenue share that pays you monthly, right?
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So that's you know, someday you have a path off the transaction treadmill.
00:20:47.839 --> 00:20:54.000
So if you're wanting to know more about that, all you got to do is uh text any one of us.
00:20:54.160 --> 00:20:58.640
So um, you know, James, if they want to have a conversation with you, how should they get in touch?
00:20:58.880 --> 00:21:02.400
Yeah, they can text me at 202-841-7815.
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Uh, you can text me exp realty.
00:21:04.799 --> 00:21:07.519
Again, that's 202-841-7815.
00:21:08.079 --> 00:21:09.519
What about you, Carl?
00:21:10.160 --> 00:21:14.720
Text me bridge at 804-665-4344.
00:21:14.960 --> 00:21:18.160
And um, and Carl can also help you if you need a good lending solution.
00:21:18.240 --> 00:21:20.559
So that's that's why he wants you to text you bridge, right?
00:21:21.519 --> 00:21:28.000
Yeah, we'll help you increase that GCI so that way, you know, even if you aren't getting more market share, you're making more money.
00:21:28.240 --> 00:21:29.519
All right, Nick, what about you?
00:21:29.759 --> 00:21:34.799
Text get money to 202-255-9560.
00:21:35.519 --> 00:21:41.680
All right, and you can you can just text anything to me, 703-638-4393.
00:21:42.079 --> 00:21:51.279
All right, so um moving on, if if if you know an agents hear this, they're motivated, they they want to, they want to go out and actually sell more homes, right?
00:21:51.440 --> 00:21:54.799
Increase their market share and and their their paychecks.
00:21:54.880 --> 00:21:58.559
Uh, what is the one activity that they need to track daily?
00:21:58.720 --> 00:21:59.759
We'll start with you, Nick.
00:22:00.240 --> 00:22:02.480
Um, how many contacts you hit, right?
00:22:02.640 --> 00:22:07.039
Like AI, Instagram, you know, open hand, like who cares?
00:22:07.279 --> 00:22:11.599
Call people, text people, DM people about real estate.
00:22:11.839 --> 00:22:14.480
You need to track how many conversations you have.
00:22:14.720 --> 00:22:16.960
So, you know, you have dials, right?
00:22:17.119 --> 00:22:19.279
You have contacts and you have appointments set.
00:22:19.440 --> 00:22:26.319
Um, I don't necessarily track my dials because I don't care how many, you know, people I called, I just care how many people I talked to.
00:22:26.480 --> 00:22:29.200
And then from there, I think you can build, you know, a real business.
00:22:29.279 --> 00:22:32.400
You would know if okay, if I talk to five people, I said two appointments, right?
00:22:32.480 --> 00:22:33.519
Then I have a percentage.
00:22:33.599 --> 00:22:37.759
If I talk to 10 people and I set four appointments, like right, you need to know your percentage.
00:22:37.839 --> 00:22:48.160
You need to know how many people you need to talk to to set an appointment, how many appointments need you you need to go on, go on to get a signed contract, you know, so on and so forth, you know, Gary Keller, right?
00:22:48.400 --> 00:22:51.599
But I think you need to track um contacts daily.
00:22:51.920 --> 00:22:54.720
Just just like football, full contact sport.
00:22:55.039 --> 00:22:56.799
Uh Carl, what about you?
00:22:56.960 --> 00:22:59.359
What's the one activity agents need to track every day?
00:22:59.599 --> 00:23:00.799
I'm with Nick on this.
00:23:00.880 --> 00:23:03.519
It's it's specifically the conversations that you're having.
00:23:03.680 --> 00:23:10.480
I guess to get a little bit more narrow, like nothing sold over text and email.
00:23:10.720 --> 00:23:16.240
So the purposes of using text and emails is to get on the phone.
00:23:16.319 --> 00:23:19.759
And then the purpose of getting on the phone is to get appointments.
00:23:20.000 --> 00:23:20.720
Point blank.
00:23:20.880 --> 00:23:29.279
How many meaningful conversations are you having with people that are either going to transact with you or refer you people that will transact with you?
00:23:29.599 --> 00:23:39.279
And I I'm a firm believer, I'm probably a little biased because being on the lending side, but I want to go after people that are going to refer me business.
00:23:39.519 --> 00:23:44.319
I I want to, I mean, obviously you got to make relationships with the people that are going to transact with you.
00:23:44.480 --> 00:24:00.559
But if you spend more time building relationships with people that are going to be, as James calls it, a golden goose that gives you multiple referrals, connects you with multiple people that are going to transact, then that's going to be a lot more worthwhile.
00:24:00.640 --> 00:24:05.440
Uh a higher ROI on the time that you're spending talking to people.
00:24:06.880 --> 00:24:08.160
All right, James.
00:24:08.720 --> 00:24:10.400
Anything different on this?
00:24:12.160 --> 00:24:12.480
No.
00:24:14.640 --> 00:24:18.319
I'm trying to think of uh something a little more interesting than agreeing.
00:24:18.640 --> 00:24:37.200
Um but it's how many two-minute or longer conversations that you're having uh and specifically with people that are in a position to either refer you or to work with you.
00:24:37.359 --> 00:24:42.480
And you don't know who those people are necessarily until you talk to them.
00:24:42.640 --> 00:24:47.680
Uh so just as many two-minute or more conversations that you have, the better.
00:24:48.319 --> 00:24:51.039
Yeah, so I'll I'll go ahead and agree with everyone.
00:24:51.119 --> 00:25:00.720
And I actually saw a post the other day from John Chaplack, you know, one of the great real estate coaches, and uh he said that you know, he was talking about a big team leader.
00:25:00.880 --> 00:25:09.440
I don't I don't know which team it was, but uh you know, they get as you build teams and systems, you can have complex tracking and metrics and all this.
00:25:09.599 --> 00:25:13.279
And he said the guy just wrote two numbers on his whiteboard.
00:25:13.680 --> 00:25:15.440
Uh I can't even remember what they were.
00:25:15.599 --> 00:25:17.839
It was probably like 10 and 2, something like that, right?
00:25:17.920 --> 00:25:22.880
And he needed to talk to to 10 people a day and and set two appointments.
00:25:22.960 --> 00:25:27.839
And I think that was for like the the sales part of this business and and the recruiting part, right?
00:25:28.000 --> 00:25:42.079
So um, you know, we we we always like want to make it pretty complicated and um sometimes I think that's that's a way we talked about this last week to avoid like the real work, right?
00:25:42.240 --> 00:25:46.000
And the simpler you get, the more repeatable it's gonna be.
00:25:46.079 --> 00:25:48.960
And and you know, and and that guy had had two numbers, right?
00:25:49.039 --> 00:25:49.680
Like 10 and 2.
00:25:49.759 --> 00:25:52.799
Like talk to talk to 10 people, set two appointments.
00:25:52.880 --> 00:25:59.599
And you know, I guarantee you if you simplify everything you're doing, like we talk a lot about social media, AI, marketing, door knocking, open houses, right?
00:25:59.680 --> 00:26:03.359
But if if all you if all you do is come up with two numbers, right?
00:26:03.440 --> 00:26:24.960
Like I'm gonna talk to this many people and set this many appointments, and and you know, you hit it uh most days, you're you're gonna be in that rare category that is not just gaining market share by selling the same amount of homes and declining market, but increasing the amount of homes you're selling and gaining market share and having your income stay ahead of inflation.
00:26:25.200 --> 00:26:34.319
And if you're um not sure that you want to make phone calls that day or talk to people, or you're like, oh, like I don't know, is you're scared to call a lead, right?
00:26:34.480 --> 00:26:38.799
Um, I would challenge you to figure out what your average commission is, right?
00:26:38.880 --> 00:26:40.880
Mine, I think, is 15,000.
00:26:41.039 --> 00:26:47.039
Um, and you know, kind of say to yourself, like, hey, this call could make me$15,000.
00:26:47.519 --> 00:26:51.440
And uh you might you might end up hitting, hitting dial on that.
00:26:51.519 --> 00:26:52.720
So um, that's something I do.
00:26:52.799 --> 00:26:57.359
When I when I don't feel like um making calls or I'm like, oh, I don't know, it's gonna be a challenging lead.
00:26:57.440 --> 00:27:00.480
I'm always like, but is it worth$15,000 to call?
00:27:00.559 --> 00:27:02.319
And you know, usually it is.
00:27:02.640 --> 00:27:10.480
Yeah, or or the next time you fill up your your gas tank, just take a picture of the pump and and and put that as the background on your your phone.
00:27:11.279 --> 00:27:23.680
Alex Horry Mosey, uh, I recently heard him say that focus is an extra I'll mess it up, but something to the effect of focus is an exercise in subtraction.
00:27:23.839 --> 00:27:34.640
So if you cut out, you know, cut out 95% of what you're doing, except for having those two-minute or longer phone conversations, or whatever it is that is moving the needle.
00:27:34.880 --> 00:27:37.119
Um, and I would argue that that's it.
00:27:37.440 --> 00:27:39.839
Uh that you gotta cut stuff out.
00:27:40.960 --> 00:27:42.400
Yeah, love it.
00:27:42.559 --> 00:27:44.799
Focus is uh is is yeah, subtraction.
00:27:45.119 --> 00:27:45.920
Uh all right.
00:27:46.799 --> 00:27:48.000
Moving on.
00:27:48.319 --> 00:27:52.240
Uh would you take an overpriced listing no matter what?
00:27:52.559 --> 00:27:56.720
Or do you have a cutoff and is is it a dollar amount or percentage amount if you do?
00:27:56.960 --> 00:27:59.039
We'll start with start with you, James.
00:28:01.519 --> 00:28:10.640
An overpriced listing is still an opportunity, um but you gotta be clear with uh with yourself on what that opportunity is.
00:28:11.039 --> 00:28:17.599
And that opportunity is you're gonna be visible, it's gonna generate conversations with neighbors, with buyers.
00:28:18.559 --> 00:28:22.799
Um it's not necessarily gonna lead to earning a commission.
00:28:23.039 --> 00:28:38.480
It's gonna be an opportunity to educate that client where they're wanting to put it for above market, and you can set expectations and still list it for way above what is realistic.
00:28:38.799 --> 00:28:46.559
But I think at the end of the day, it's it's an opportunity, and you just gotta decide whether the cost of the photos, the cost of your time, etc.
00:28:47.599 --> 00:28:49.839
Um is is worth it.
00:28:50.000 --> 00:28:51.599
Yeah, I think in a lot of cases it is.
00:28:52.240 --> 00:28:56.640
Um obviously what about the risk?
00:28:59.359 --> 00:29:01.440
Especially if you've got a price reduction plan in place.
00:29:01.519 --> 00:29:17.680
But what about the risk of you know, the next time you go into a listing appointment or you're competing and and you know, some other agent uses your your days on market in that neighborhood or your list price to sold price ratio against you?
00:29:17.839 --> 00:29:20.400
Like could it cost you better a future business?
00:29:20.640 --> 00:29:26.000
Or yeah, I think every agent needs to be good at communicating uh their value.
00:29:26.240 --> 00:29:41.599
And you know, if some other agent is saying, uh, hey, look at all these, you know, look at this failed listing that they had, it's your responsibility to say, uh, yeah, these are these are the clients that took my advice, and these are the clients that didn't.
00:29:41.839 --> 00:29:44.960
Uh because that agent's gonna cherry pick the data anyway, right?
00:29:45.039 --> 00:29:50.079
They're not they're not showing your your your best sales, they're not showing their worst sales, right?
00:29:50.160 --> 00:30:00.000
They're they're cycling through the different ways that you can measure and look at metrics, and they're picking the ones that are beneficial to them.
00:30:00.160 --> 00:30:04.000
So it's your responsibility to to communicate clearly.
00:30:04.079 --> 00:30:05.200
And I I've personally done that.
00:30:05.279 --> 00:30:11.039
I said, hey, because I've had I've had clients uh or prospective clients say, hey, you know, can you show me your track record?
00:30:11.200 --> 00:30:12.240
And I say, Yeah, sure.
00:30:12.319 --> 00:30:15.920
And and furthermore, here are the people that took my advice, here are the people that didn't.
00:30:16.079 --> 00:30:21.359
And I think that's a net benefit because you're you're showing them like, hey, look, I've got great advice.
00:30:21.519 --> 00:30:24.480
And if you don't take my advice, it's gonna be a problem for you.
00:30:26.319 --> 00:30:27.440
Nick, what about you?
00:30:27.680 --> 00:30:32.720
I mean, I think you can, you know, reasonably take take an over an overpriced listing that's reasonable, right?
00:30:32.799 --> 00:30:54.079
Like I think if, you know, you explain the comps to a seller and they think that, you know, hey, like, I know you think my range is, you know, 700 to 725, but we did XYZ in the house, so we want a price at 775, the last comp that was also updated, but you know, a thousand square foot bigger than my house, we feel like we're still as valuable as that.
00:30:54.160 --> 00:30:58.880
I think that that's a reasonable, that's a reasonably overpriced, like, okay, you're at 775.
00:30:59.039 --> 00:31:00.079
Here's my advice.
00:31:00.240 --> 00:31:10.960
Let's come up with the price reduction plan um to get you back to market if, you know, for some reason we're not um, you know, selling or getting foot traffic or uh uh, et cetera.
00:31:11.119 --> 00:31:13.680
Um, but I I mean I don't think you need to take every overpriced listing.
00:31:13.759 --> 00:31:21.680
Like, I'm not gonna take a$500,000 listing um that somebody thinks is worth one too and spend money on and spend money and time on that, right?
00:31:22.000 --> 00:31:27.279
So if it's reasonably overpriced and you have that conversation in a price reduction plan, sure.
00:31:27.440 --> 00:31:29.279
But if not any listing, right?
00:31:29.359 --> 00:31:34.880
That's saying like, yeah, I'll take a$200,000 condo and list it for$12 million just so I can have conversations about it.
00:31:35.519 --> 00:31:37.440
Waste of time and money, you know.
00:31:38.000 --> 00:31:47.200
I think it's worth, no matter what, I think it's worth taking the listing appointment, even if they say, Yeah, I want$1.2 for my$500,000 home.
00:31:47.359 --> 00:31:59.039
Uh, because then you have the opportunity to educate them, build some trust, and say, hey, you know, um I want to earn some money, of course, but I also want to help you.
00:31:59.200 --> 00:32:04.880
Um, and the best way that I can help you is to show you uh, hey, you know, it's it's not gonna work.
00:32:05.039 --> 00:32:12.880
I also want to understand why you want$1.2 um and uh and what your options are.
00:32:13.119 --> 00:32:14.880
And maybe you're not gonna sell it today.
00:32:15.039 --> 00:32:19.680
Maybe you're gonna work with some agent that says they can get you 1.2, that's not gonna be me.
00:32:20.079 --> 00:32:23.359
Uh, but I'm gonna treat you fairly and honestly.
00:32:23.920 --> 00:32:29.200
And you know, maybe when you are ready, uh I've had those conversations before.
00:32:29.440 --> 00:32:32.160
Uh, you know, it's worth it's worth a million fifty.
00:32:32.880 --> 00:32:41.359
They come back and say, I want 1.3, and I say, Hey, uh it's not gonna work, and this is why.
00:32:41.599 --> 00:32:47.759
And and I I've still worked with them after that, and I'm still gonna sell that home in April.
00:32:48.720 --> 00:32:53.839
Yeah, yeah, there's definitely scenarios where like the market catches up to their expectations over time.
00:32:54.000 --> 00:32:58.000
So uh definitely worth the conversation to say the least.
00:32:58.160 --> 00:33:05.279
Carl, should agents take overpriced listings and and is there a limit uh in that scenario for you?
00:33:05.599 --> 00:33:08.480
I've worked with agents that are on both sides of this.
00:33:08.720 --> 00:33:17.440
So I have some agent friends that say, hey, I absolutely will not take it because I can't sell your house for what you want it for, right?
00:33:17.680 --> 00:33:21.039
Don't and have said, don't do the aspirational pricing.
00:33:21.279 --> 00:33:50.000
And then I have other really successful agents that I work with that, like Nick said, you know, they go into it building in an agreement with the seller on what future price reductions are going to be when the house doesn't sell after 30, 60 days or whatever it is, because then that way you're already teeing it up from the beginning that, hey, I mean, the market has already dictated that nobody wants to buy the house at the price that we started at.
00:33:50.160 --> 00:33:56.559
So, you know, the there's only one thing that we can really control is is the price of the home.
00:33:56.880 --> 00:34:11.039
And I I think also like it in that in those initial conversations, it's important to convey to the seller that how you price the home is going to be directly tied to how quickly they need to sell.
00:34:11.280 --> 00:34:25.440
Like if it's not a true need, like they don't really need the money right now, they just want to offload that house, then you know you have a lot longer of a leash, you know, because you're not restricted by time.
00:34:25.760 --> 00:34:45.679
But if they're in a tough place financially or they have plans for that, you know, that money that they're going to get from selling the home in a short time window, then I think that's an opportunity for you to be able to have an uh a conversation that would be meaningful to let them know that that you're you're shooting yourself in the foot, really.
00:34:45.760 --> 00:34:52.960
You're you're working against your your goals to do aspirational pricing if you need money quickly from the sale of that home.
00:34:53.119 --> 00:34:55.440
And it's just gonna put you in a position of weakness, right?
00:34:55.599 --> 00:34:59.199
You always want to be negotiating from a position of strength.
00:34:59.280 --> 00:35:04.400
And if with aspirational pricing, I don't know how you ever put yourself in a position of strength.
00:35:04.480 --> 00:35:07.840
You're always just backing yourself into a position of weakness from a negotiating standpoint.
00:35:07.920 --> 00:35:09.440
But I'll close with this.
00:35:09.760 --> 00:35:18.159
Uh, one of the agents I work with, I really loved how he always said sometimes the biggest negotiations is with your own client.
00:35:18.320 --> 00:35:23.119
So a lot of agents like to think that they're always negotiating with the people on the other side of the transaction.
00:35:23.360 --> 00:35:29.199
But in reality, for you to make a deal work, you really got to be able to negotiate with your own client.
00:35:30.320 --> 00:35:33.360
Yeah, so just a couple quick points here.
00:35:33.599 --> 00:35:49.280
Um the the the length of time, if if if they don't need to sell quickly, you know, you're you're still hurting them by overpricing because as those days on market accumulate, now that million dollar place might only get 950, right?
00:35:49.440 --> 00:35:51.039
Because buyers look at the days on market.
00:35:51.119 --> 00:35:58.559
It's it's one of very few financial like indicators they have on you know if a home is priced right.
00:35:58.800 --> 00:36:01.360
So the the days on market can still be deadly.
00:36:01.599 --> 00:36:06.960
Uh yes, I personally would would take one if I had the price reduction plan in place.
00:36:07.199 --> 00:36:11.519
I probably wouldn't take it if it was like over 10% above market value.
00:36:11.679 --> 00:36:27.519
So like um, you know, if it's a$500,000 condo and$550, and we had like a 15-day and 30-day price reduction plan in place, that would that would be like in my wheelhouse, right?
00:36:28.000 --> 00:36:33.519
Uh above that, I think you're you're starting to kind of damage your own reputation.
00:36:33.599 --> 00:36:45.360
And you know, you yes, you can like bifurcate the stats and go into listening presentation and say, like, here are the stats of the sellers that listen to me and price where I wanted, right?
00:36:45.440 --> 00:36:50.880
And and look, I'm 100%, you know, the list price is sold price, 10 days average a day on market.
00:36:51.199 --> 00:37:01.280
Um you could actually show them the ones who didn't listen to you too, and and maybe that'll help pull them in the right way on pricing.
00:37:01.440 --> 00:37:06.320
So uh that that's an interesting take that that you know James kind of brought up.
00:37:06.480 --> 00:37:10.480
So um but yeah, I think I think there's some wiggle room there.
00:37:10.719 --> 00:37:21.039
Um but you know, I think the key is like in your in your business, your prospecting, your marketing is to get in front of get in front of people that have to sell, right?
00:37:21.519 --> 00:37:27.840
Uh people that are selling because of a job transfer, a change in family status, right?
00:37:28.159 --> 00:37:29.199
Um things like that.
00:37:29.360 --> 00:37:39.760
So uh those have to sellers are gonna be a lot easier to work with than the you know, the aspirational move up buyer that that might sell if they get the right price.
00:37:40.000 --> 00:37:44.880
So uh keep that in mind, and then we'll we'll wrap up with uh James here.
00:37:44.960 --> 00:37:48.800
You you had something you wanted to talk about uh on fear versus opportunity.
00:37:48.880 --> 00:37:51.599
So it's your turn to pose a question to us, I guess.
00:37:52.639 --> 00:37:53.119
Cool.
00:37:53.360 --> 00:38:09.039
Uh so I guess if you turn it into a if you turn it into a question form instead of just a statement, um, you know, how do you how have you recently seen people that are either operating out of fear or or operating out of opportunity?
00:38:09.599 --> 00:38:13.599
And how do you how do you see that benefiting and hurting different people?
00:38:16.079 --> 00:38:25.599
Yeah, my my my take on that one is if if they're operating on fear, I think they're they're typically staying in analyze and plan mode, right?
00:38:26.000 --> 00:38:43.039
Um they're constantly coming up with a new plan or analyzing this plan versus that plan versus the the people that are really driven by opportunity, um they're getting out of planning mode, they're getting out of analyzing mode, and they're going out and executing.
00:38:43.199 --> 00:38:58.880
So they're they're having more conversations, you know, they're going to like a new real estate training or event, or um making that brokerage switch that they know will will bring them more profitability, right?
00:38:58.960 --> 00:39:02.320
Or elevate the group of people that they're surrounding themselves with.
00:39:02.559 --> 00:39:09.760
So, you know, people that people that are opportunity-based are gonna take action, and and people that are fear-based are gonna analyze and plan.
00:39:11.679 --> 00:39:17.760
There's two ways to look at this is are we looking at it from an agent viewpoint or are we looking at it from a consumer standpoint?
00:39:17.920 --> 00:39:19.440
I'll take the agent.
00:39:19.679 --> 00:39:27.440
From an agent standpoint, like Nick talked about earlier, it when you're fearful of calling someone, he thinks about his commission check.
00:39:27.599 --> 00:39:32.719
Well, that that's that's just all like I like fear versus hunger more than fear versus opportunity.
00:39:32.800 --> 00:39:35.440
So I like to look at it from a fear versus hunger standpoint.
00:39:35.599 --> 00:39:43.599
I'm more hungry to get the business, and I'm more hungry to grow than I am fearful of having tough conversations.
00:39:43.920 --> 00:39:50.960
So if the if the hunger outweighs the fear, you're gonna take action, you're going to succeed, you're gonna have valuable conversations.
00:39:51.280 --> 00:39:55.760
And I think this is the perfect time to talk about the story of burning the boats.
00:39:55.920 --> 00:39:57.920
Have you guys heard the story of burning the boats?
00:39:58.079 --> 00:39:59.280
Do you know that one?
00:39:59.599 --> 00:40:01.840
Uh in like Greek mythology?
00:40:02.079 --> 00:40:07.360
No, no, it's uh Cortez and the Aztecs, and I think I think there's a Chinese example of it too.
00:40:07.679 --> 00:40:17.360
Yeah, so so the Spanish showed up on the Mexican shore, and that there were only like 500 of the Spanish that were gonna take on the whole Aztec empire.
00:40:17.519 --> 00:40:21.440
And Cortez said, Hey, there's no turning back.
00:40:21.599 --> 00:40:26.639
We're burning the boats, we're going all in, we're gonna win or we're gonna die.
00:40:26.880 --> 00:40:33.280
So next time you're fearful of making a call, burn the boats and just make the call go all in.
00:40:34.960 --> 00:40:36.079
Yeah, I love that.
00:40:36.239 --> 00:40:37.440
I love that story, right?
00:40:37.599 --> 00:40:39.440
You know, they couldn't they couldn't retreat.
00:40:39.519 --> 00:40:46.320
Um, their only option was to to to conquer or be conquered and and yeah, so burn the boats.
00:40:46.639 --> 00:40:49.920
I mean, you know, I'm not cool with a suicide mission, but I get the point.
00:40:50.639 --> 00:40:51.599
I guess that's cool.
00:40:51.760 --> 00:40:59.920
Like I guess like every football coach should say that before you go out on the field, you know, like, but that's not a really that's a stupid real life example.
00:41:01.599 --> 00:41:05.840
But uh, but uh but it's like we're going all in no matter what.
00:41:05.920 --> 00:41:09.360
Like maybe you should like, you know, but uh I mean I don't know.
00:41:09.440 --> 00:41:11.519
I don't I don't really understand like fear of, I don't really get it.
00:41:11.599 --> 00:41:14.400
Like fear of this opportunity, I don't have like I'm not scared of things.
00:41:14.480 --> 00:41:17.119
I think it's more like scarcity and laziness that you're fighting against.
00:41:17.280 --> 00:41:26.000
Like, hey, are you you know, are you operating scarcity so you won't like make a decision or you know, spend money on a lead gen platform or um you know, do that open house.
00:41:26.079 --> 00:41:27.280
Like do you have scarcity?
00:41:27.360 --> 00:41:28.960
Um, or are you just like lazy?
00:41:29.039 --> 00:41:31.920
Like you just want to like hang around and not like do the work, right?
00:41:32.079 --> 00:41:38.400
So I really think it's just um I don't know, it's like philosophy thing, you know, it's a vibe, but it's just like make calls, bro.
00:41:38.480 --> 00:41:38.960
Like, who cares?
00:41:39.039 --> 00:41:45.039
Fair burn the boats, favorite opportunity, scarcity or not, like make your calls, bro, get the money, or don't.
00:41:45.440 --> 00:41:47.599
And that's and that's it, you know.
00:41:48.000 --> 00:41:56.480
And don't hang out with Carl if you kind of want to be like, you know, hey, I spent 10,000 on this lead gen platform, it's not really good anymore.
00:41:56.559 --> 00:42:01.199
I want to pivot with Carl, you gotta just keep investing that money, you know what I mean?
00:42:03.440 --> 00:42:11.360
You know, Carl, Carl's still uh still hitting AOL and still hitting the um, you know, he's just like nah, bro.
00:42:11.440 --> 00:42:13.599
We we we're we're all in on this, you know.
00:42:13.920 --> 00:42:22.000
And he wasn't he wasn't saying the Spanish couldn't they couldn't switch weapons or you know go from bow and arrow to gun, or he's just saying they can't get back on the boat.
00:42:22.400 --> 00:42:24.159
No, I get it, I get it, I get it, I get it.
00:42:24.320 --> 00:42:26.239
They could try to escape up the coast.
00:42:26.639 --> 00:42:36.400
Yeah, but uh yeah, I mean my take is looking at the world through abundance and opportunity is way more productive, way more enjoyable.
00:42:36.559 --> 00:42:41.360
Maybe you're wrong, uh, but it's a better, hell of a lot better way to live.
00:42:41.519 --> 00:42:44.639
Uh and it's way more productive.
00:42:44.719 --> 00:42:53.360
And the people that uh operate out of opportunity and abundance, you know, they they can still de-risk, right?
00:42:53.519 --> 00:42:55.119
They can still make smart decisions.
00:42:55.360 --> 00:43:07.920
Um but there's something different in your brain uh that opens up more opportunity for you, that opens up more success for you when you're operating out of opportunity.
00:43:08.000 --> 00:43:08.880
There's this really awesome book.
00:43:08.960 --> 00:43:09.920
It's one of my favorite books.
00:43:10.000 --> 00:43:12.800
It's called The Hour Between Dog and Wolf.
00:43:12.960 --> 00:43:38.960
Uh, and it talks about the like the psychological and then physiological connection and and patterns when you're in an environment where you're gripped by fear and your brain stops working uh right with lots of cortisol, uh your your frontal lobe is is not working, uh, but uh you know, when there's opportunity, that's that's not happening.
00:43:39.199 --> 00:43:41.760
Um uh it can go too far, right?
00:43:41.840 --> 00:43:44.719
You can be too optimistic uh and too rosy.
00:43:44.800 --> 00:43:59.199
Um but I think if you're if you're in that in that nice middle ground where you're thinking about opportunity, uh you're thinking about building relationships, uh, and you're thinking about helping others, that's gonna build relationships and that's gonna lead to success instead of.
00:44:00.079 --> 00:44:01.760
Thinking, well, what if this bad thing happens?
00:44:02.000 --> 00:44:05.199
Much more productive to think, hey, what if this good thing happens?
00:44:05.440 --> 00:44:22.079
And you can have like competing theses in your head, you know, one voice that's that's in check, but talking about those negative things that can happen, but making sure that you're really embracing the uh the other voice that's saying, hey, don't forget about these good things that can happen.
00:44:22.320 --> 00:44:24.559
What if you succeed?
00:44:24.880 --> 00:44:26.480
Because there's no debtor prisons.
00:44:26.639 --> 00:44:38.079
I remember listening to a uh a really successful real estate developer, uh, and he said, you know, a couple million dollars on the line, uh, there's no debtors' prisons, they're not gonna send me to prison.
00:44:38.239 --> 00:44:39.679
I just go bankrupt.
00:44:39.920 --> 00:44:41.840
And uh and I can try again.
00:44:42.079 --> 00:44:43.679
I think that was like my disconnect.
00:44:43.760 --> 00:44:48.239
I never had a situation in my head where I was just like, I might not succeed.
00:44:48.320 --> 00:44:50.159
And it doesn't like register, you know.
00:44:50.639 --> 00:44:51.039
Good.
00:44:51.519 --> 00:44:51.760
Good.
00:44:52.400 --> 00:44:56.800
It doesn't, it doesn't register that I probably like that I probably won't win.
00:44:56.880 --> 00:44:58.159
So I don't get the other side.
00:44:58.239 --> 00:45:00.559
I don't even, it doesn't, I don't understand.
00:45:00.639 --> 00:45:01.199
It's confusing.
00:45:01.280 --> 00:45:02.800
It's I can't comprehend.
00:45:03.840 --> 00:45:05.199
That's why you're successful, Nick.
00:45:05.920 --> 00:45:20.960
I'll I'll tell you the one, you know, we've we've hired and trained and developed hundreds and hundreds of agents on the team, and I I I don't know if I can recall this type of agent ever succeeding.
00:45:21.360 --> 00:45:24.239
And and maybe there is, and I'm just missing it.
00:45:24.400 --> 00:45:38.159
But uh I can recall many circumstances where this type did not succeed, and and it's you know, someone in the mid or twenties or beyond that's living in parents' basement and still getting support from the basement.
00:45:38.400 --> 00:45:46.079
Like if they if they didn't, you know, sell a home in the first like three months, it's no big deal.
00:45:46.159 --> 00:45:47.599
Nothing in their life changed.
00:45:47.760 --> 00:46:06.719
Um so like the people that that needed to because they weren't being supported, or even furthermore, they were supporting others, um yeah, they they succeeded at a at a lot higher rate than the person who just had the the fallback of of mom and dad.
00:46:06.800 --> 00:46:11.760
And not knocking that, I'm sure we all like love our kids and would do that.
00:46:12.079 --> 00:46:18.960
Um but you know, there there is a cost to having that security.
00:46:19.199 --> 00:46:24.719
So there is something to Carl's Burn the Boats story.
00:46:25.199 --> 00:46:28.559
Uh you know, the people that's that's all I'll say on that.
00:46:28.719 --> 00:46:36.880
We can we can end this has been a great show talking about Aztecs and and Spanish and Blaine Kiffin and Dabo Sweeney.
00:46:36.960 --> 00:46:39.440
So who knows what we'll talk about next week.
00:46:39.599 --> 00:46:47.760
But if you guys have listened this far through through all of this, uh clearly you think we deserve a five-star review.
00:46:47.840 --> 00:46:56.800
Uh so tap that on Apple, leave us a comment and a review and and and you know questions as well, uh, either on Apple, Spotify, or YouTube.
00:46:57.119 --> 00:47:00.719
And we will we might give you a shout out on the next show if you do that.
00:47:00.880 --> 00:47:04.480
So thank you for tuning in, guys, and we will see you next week.
00:47:04.880 --> 00:47:09.039
You've been listening to Hyper Best Asian Growth Show with Gary Stolen Dan Lesnik.
00:47:09.440 --> 00:47:12.320
Real strategies, real results, real estate done differently.
00:47:12.480 --> 00:47:17.599
If you love this episode, subscribe and channel with another Who's Ready to Grow?
00:00:20.000 --> 00:00:23.440
All right, welcome back to the Hyper Fast Agent Growth Show.
00:00:23.519 --> 00:00:24.800
We're back with our panel.
00:00:25.039 --> 00:00:26.800
Short Nick today.
00:00:26.960 --> 00:00:31.280
He's on a uh listing appointment, I think, and uh might be popping in later.
00:00:31.440 --> 00:00:32.799
We've got a lot to talk about.
00:00:32.960 --> 00:00:51.439
So uh for you college football fans, you might have seen uh the Clemson LSU game last week, and I think there's a parallel there between uh Diabo Sweeney, the head coach of Clemson, and agents who refuse or are hesitant about using AI.
00:00:51.520 --> 00:00:52.799
So we're gonna talk about that.
00:00:52.960 --> 00:01:00.960
Uh overpriced listings, what activities agents should talk about or should track every single day.
00:01:01.119 --> 00:01:02.960
Uh, fear versus opportunity.
00:01:03.200 --> 00:01:10.319
And if you're selling the same amount of homes in this market for the past three years, are you actually on track ahead or behind?
00:01:10.560 --> 00:01:18.560
So uh let's dive into AI and um you know let's talk about Dabos Sweeney Clemson.
00:01:19.120 --> 00:01:23.359
Guys had tonic success as a head coach, probably most successful coach ever at Clemson.
00:01:23.519 --> 00:01:28.400
He's won two national titles, and college football has undergone some big changes in the last five years.
00:01:28.480 --> 00:01:45.439
Like you can pay players now, there's transfer portals, and you know, you can you can in in four or five years you can play for that that many teams, and it used to be you had to sit out, and we've seen a rapid decline of of coaches that refuse to adapt to this, right?
00:01:45.519 --> 00:01:49.760
Like you know, Clemson, for example, has gone from a powerhouse to Alaska.
00:01:51.439 --> 00:02:06.879
And you know, got got pounded against LSU 51 to 10, and that's against a head coach, Lane Kiffin, who's controversial but really embraces these new changes, like had the most transfers, totally overhauled the team in between the last season.
00:02:06.959 --> 00:02:17.520
And you know, I know there's a lot of real estate agents out there who are afraid of AI or think it can't do um what they can do, and it can do a lot of what you can do, right?
00:02:17.680 --> 00:02:20.800
So um we'll we'll kick it off to Carl here.
00:02:20.960 --> 00:02:29.360
You know, if you're a real estate agent and you're not embracing AI, are you becoming the dabbo sweeney of real estate?
00:02:30.400 --> 00:02:37.520
I think you're gonna be left behind, and I think you need to be willing to go back to basics.
00:02:37.759 --> 00:02:41.439
I'll take the football analogy to another another level.
00:02:41.680 --> 00:02:53.759
You know, with all the NIL stuff, we've seen some talks about some players that were on NFL rosters, didn't pan out, want to go back to college.
00:02:54.000 --> 00:02:59.439
Well, if you're making more money in college than you are going pro, who cares?
00:02:59.680 --> 00:02:59.919
Right?
00:03:00.080 --> 00:03:07.280
I mean, it's just do what's going to better support you and your business, better support your family.
00:03:07.680 --> 00:03:15.039
And I think that we have to be coachable and adaptable and willing to learn no matter how much experience we have.
00:03:15.199 --> 00:03:28.719
I hate when it like a lot of people in our business love to be like, I've been doing this for 25 years and want to swing around their like longevity and the how long they've been in the business.
00:03:29.360 --> 00:03:37.840
But if you're not keeping up with what's going on, there's that that's opportunity for newer people in the business to come and take market share.
00:03:38.080 --> 00:03:54.080
A lot of the times the the clients that we're talking to, they're gonna hire the person that is going to be the most confident and make them feel the that they're going to be in the best position, regardless of how much experience you have.
00:03:54.240 --> 00:03:56.479
And AI is gonna help you do that.
00:03:58.960 --> 00:04:00.879
Yeah, James, are you still with us?
00:04:06.800 --> 00:04:08.879
Internet not working so great.
00:04:09.919 --> 00:04:10.560
Alright, yeah.
00:04:10.639 --> 00:04:11.840
So what's what's your take on it?
00:04:11.919 --> 00:04:18.399
Like, do are are agents who don't adapt and start using AI, are they are they in danger of being left behind?
00:04:19.040 --> 00:04:19.519
100%.
00:04:20.079 --> 00:04:26.639
100% agents that aren't adapting and learning and using the newest tools.
00:04:26.800 --> 00:04:31.439
It's like like what real estate agent do you know that is faxing contracts?
00:04:32.560 --> 00:04:43.759
You you got you gotta adapt uh and you gotta because adapting to the new tools is giving you either a competitive advantage or at least helps you keep up, right?
00:04:44.000 --> 00:04:48.800
Uh when when you guys find a real estate agent that's faxing contracts, you let me know.
00:04:48.959 --> 00:04:52.879
Uh they they either retired or they adapted.
00:04:54.079 --> 00:04:55.120
Yeah, I agree.
00:04:55.279 --> 00:05:00.000
So um let's let's talk about some of the AI wins that we've each had recently.
00:05:00.079 --> 00:05:02.000
So I'll I'll go first with mine.
00:05:02.240 --> 00:05:08.240
Uh I went on a a for sale by owner uh listing appointment over the weekend, over the holiday weekend.
00:05:08.639 --> 00:05:11.839
And a lot a lot of challenges in it.
00:05:11.920 --> 00:05:16.319
They've got six more months on their tenant's lease.
00:05:16.480 --> 00:05:23.759
So like that takes out all of the you know primary occupancy owner, right?
00:05:23.839 --> 00:05:27.279
Because like a lender's not gonna let you move in with six months on a lease.
00:05:28.000 --> 00:05:36.000
Uh they've they've got a property identified already that they want to buy in 1031 and you know roll the proceeds into.
00:05:36.079 --> 00:05:44.959
So they've got some timelines there, they've got pictures that they took when they moved out before they rented it in 2008 with a cell phone.
00:05:45.040 --> 00:05:49.839
So they're like cell phone circa 2008 quality photos.
00:05:50.079 --> 00:05:52.879
Uh and the tenants have three dogs, right?
00:05:52.959 --> 00:05:55.759
So, like, that's not gonna make showings easy.
00:05:56.079 --> 00:06:09.680
So lots of complications, like and I told Carrie after, like, yeah, this is what we got going on, and you know, it's probably one of those ones that you you stay in touch with and you you get down the road, right?
00:06:09.920 --> 00:06:17.920
Um and she plugged the the challenge, the scenario into Claire, our AI tool.
00:06:18.639 --> 00:06:38.000
And you know, then we went and did something with the kids and came back 30 minutes later, and it had done all the research on comps for you know what it would sell for with like 2008 cell phone quality pictures, uh with no primary occupancy, you know, allowed, right?
00:06:38.079 --> 00:06:40.000
So that that buyer pool is gone.
00:06:40.240 --> 00:06:57.839
And it it did an analysis of them, like what they'd get in that scenario, what they'd get if if they did a light renovation and and you know, paid the tenant some money to move out early, and it did this like detailed analysis that probably would have taken an experienced agent like one to two hours to do and draft the email.
00:06:57.920 --> 00:07:02.480
I mean, it was it was a long email, uh lots of links and and analysis.
00:07:02.959 --> 00:07:12.160
And as a result of that, like you know, the the seller read the email the next morning, had a phone call, we got the listing.
00:07:12.399 --> 00:07:23.360
Um now there's there there's um a lot of work to be done to like coordinate all this part, like the the tenant situation, the contractors, and getting on the market.
00:07:23.519 --> 00:07:35.040
So still like work ahead and um and yes, you could have done that without AI, but it saved like two hours at least, probably more.
00:07:35.439 --> 00:07:37.839
And you know, that's just like one example.
00:07:37.920 --> 00:07:47.199
So the agents that aren't embracing AI, like they're simply just not gonna have the same capacity as the quality agents that do.
00:07:47.360 --> 00:07:50.319
So that that's my big win of the week on AI.
00:07:50.560 --> 00:07:55.279
Um Nick, we'll give you some time to to think because you just popped on.
00:07:55.360 --> 00:07:56.240
But James, what about you?
00:07:56.319 --> 00:07:58.560
What's your what's your biggest AI win lately?
00:08:00.079 --> 00:08:23.519
You know, my biggest AI win is uh a platform that's integrated into my CRM follow-up boss that is texting and calling and using um using meta ads to re-engage uh buyers and sellers that have ghosted and disappeared because they weren't ready yet.
00:08:23.680 --> 00:08:33.600
Uh and so, you know, when I'm out and about meeting with people, uh, this platform is calling and texting people.
00:08:33.840 --> 00:08:39.840
Uh, and that's frankly been a game changer in getting people re-engaged.
00:08:40.159 --> 00:08:44.559
Uh and so that's been what what platform is that?
00:08:44.799 --> 00:08:45.759
So that's Y Lopo.
00:08:46.000 --> 00:08:47.279
Y Lopo, okay, awesome.
00:08:47.440 --> 00:08:47.759
Yeah.
00:08:48.000 --> 00:08:52.879
And sometimes people know the voice is AI, sometimes they don't, but it it doesn't even really matter.
00:08:53.120 --> 00:08:58.159
Um, you know, they're they're re-engaged uh and it tees it up.
00:08:58.240 --> 00:09:05.039
They either do a a live transfer to me or they say, hey, this person responded.
00:09:05.279 --> 00:09:08.879
Now's a good time for you to reach out and get that conversation going.
00:09:09.200 --> 00:09:11.919
Yeah, we've been implementing that live transfer as well.
00:09:12.080 --> 00:09:14.960
I think last week alone, four appointments came from that.
00:09:15.120 --> 00:09:17.039
So um awesome.
00:09:17.120 --> 00:09:18.399
What about you, Carl?
00:09:18.720 --> 00:09:19.759
Easy one.
00:09:20.639 --> 00:09:30.720
So for backstory, me and an agent have a buyer that in her market average home sells for about$430,000.
00:09:30.960 --> 00:09:33.039
She's in uh in Maryland.
00:09:33.679 --> 00:09:37.120
And she's only approved to buy a house up to$300,000.
00:09:37.279 --> 00:09:48.720
Her parents are gonna live with her, her parents are gonna contribute, but we couldn't include her parents on the financing with a minimum down payment because her parents don't have any residency status in the states.
00:09:48.799 --> 00:09:53.279
They don't have citizenship, permanent residency, they don't have a work permit.
00:09:53.600 --> 00:10:04.720
So that really like they can afford a lot more than what they can get approved for on paper, since we're only operating based off of the daughter's income, doing only the loan in the daughter's name.
00:10:05.039 --> 00:10:10.559
300,000 is not really going to give her a lot of inventory when the average home is 430,000.
00:10:11.120 --> 00:10:36.720
The agent found a great fixer upper property, and then we put the the pictures of the home into AI to help it generate a few different ways that we can renovate the property, put that in front of the buyers, and we're gonna do a renovation mortgage for her to finance in whatever the minimum required work is for it to pass a conventional appraisal.
00:10:36.879 --> 00:10:42.799
And the dad is a general contractor and he's gonna do the rest of the work himself after closing.
00:10:43.039 --> 00:11:04.000
And it allowed the agent to help the buyers visualize what they could make the home into, and it helped him find inventory where most agents would have just gave up and said, hey, like what the their needs list is as far as what they're looking for in the home is just not in alignment with what they're approved for.
00:11:04.159 --> 00:11:14.799
So instead of giving up, he called around, found this off-market fixer upper property, and then we used AI to help the buyers envision what they could turn it into.
00:11:15.039 --> 00:11:16.080
Incredible.
00:11:17.679 --> 00:11:18.639
Awesome.
00:11:18.960 --> 00:11:21.039
All right, Nick, biggest AI win lately.
00:11:21.200 --> 00:11:22.720
Yeah, I think that's really cool, Carl.
00:11:22.799 --> 00:11:26.159
Actually, um, I I would, you know, kind of piggyback on what James said.
00:11:26.240 --> 00:11:33.279
So I'm in a CRM called Lofty now, um, and it has a tool called B that uh engages, you know, leads.
00:11:33.440 --> 00:11:38.639
Um, so I have you know, sphere, homeland seminar leads, um, fellow leads, right?
00:11:38.799 --> 00:11:40.080
That I've that I've called.
00:11:40.240 --> 00:11:47.600
And so um just just uh be having those conversations with people to re-engage and tee them up.
00:11:47.679 --> 00:11:52.159
And it's not always that um, you know, that they're that you know, she, right?
00:11:52.240 --> 00:11:53.039
She's calling people.
00:11:53.120 --> 00:11:54.960
So I don't have that that feature.
00:11:55.120 --> 00:12:06.799
Um, but she's sending the text messages, responding to some of the houses that they're saving, and um, you know, really creating a situation where I know exactly who to reach out to um about what.
00:12:06.879 --> 00:12:10.320
And I think that that's that's been a been a huge help.
00:12:10.720 --> 00:12:11.919
All right, so there you go.
00:12:12.000 --> 00:12:20.399
You guys have heard plenty of examples of how you know each one of us is using AI to provide better service, provide faster service, save time.
00:12:20.559 --> 00:12:39.519
And you know, I I again I think Nick, you missed the intro to this, but I I think the real estate agents who resist AI, whether it's out of some noble like I idea that they do everything or or whatnot, you know, they are at risk of becoming the dabbo sweeneys of real estate, right?
00:12:39.600 --> 00:12:50.799
Like, you know, he came in, um, or NIL came, transfer portal came, and you know, he's still trying to develop you know quarterbacks over three to four years, and that just doesn't work in the in the power four conferences.
00:12:50.879 --> 00:12:55.200
And so, you know, if you want to be performing at the highest level, right?
00:12:55.600 --> 00:13:03.679
Uh you have to embrace AI and look at how you can use it to provide better service, faster service, and save time.
00:13:03.840 --> 00:13:07.120
And uh, you know, again, the human element is still gonna be there, right?
00:13:07.200 --> 00:13:17.440
Like you still need the the lane kiffins of the world to come in and and fire the troops up and you know create that us versus the world mentality and and whatnot, or whatever your technique is, right?
00:13:17.600 --> 00:13:22.720
You still need the human element, but uh you have to you know be using modern techniques and technology.
00:13:22.960 --> 00:13:25.360
All right, let's move on to our next question.
00:13:25.519 --> 00:13:27.840
It's been a few years of a challenging market.
00:13:28.159 --> 00:13:38.159
And do you think you know if you're an agent and you've been selling the exact same amount of homes uh each year for the last three years, are you falling behind?
00:13:38.320 --> 00:13:41.759
Are you you know staying stagnant, or are you actually gaining ground?
00:13:46.080 --> 00:13:47.759
Start off with you, Carl.
00:13:49.279 --> 00:13:51.120
You're getting an increased market share.
00:13:51.279 --> 00:14:06.960
So if your business is staying from a production standpoint, staying at the same numbers when your average agent is doing considerably less business, you're getting more market share and you're actually growing a stronger business.
00:14:07.440 --> 00:14:15.279
Like you can't just look at the actual numbers for your own business, you have to look at what that is in relative to the rest of the market.
00:14:17.039 --> 00:14:27.840
And I I think that like long term, like when when it gets easier to get business, you're gonna have a bigger market share and you're gonna have bigger numbers overall.
00:14:28.240 --> 00:14:39.919
So I I think you have to measure yourself against how many transactions there are now compared to where they were when you were doing the same number three years ago.
00:14:40.559 --> 00:14:40.960
All right.
00:14:41.039 --> 00:14:42.399
What about you, James?
00:14:43.200 --> 00:14:43.919
Yeah, for sure.
00:14:44.000 --> 00:14:50.080
If you're doing the same business as you were last year, two years, three years ago, uh, you're you're crushing them.
00:14:50.480 --> 00:14:58.320
Uh there are lots of headwinds, and it uh, you know, it's like every every six months it gets a little tougher.
00:14:58.480 --> 00:15:02.879
Uh and the word crucible comes to mind.
00:15:03.039 --> 00:15:10.159
Um if I'm not mistaken, a crucible is uh an experience that is really hard that you got to go through that forms you and makes you.
00:15:10.320 --> 00:15:16.399
And I think this is one of those crucible moments in real estate, and it's a it's a long drawn-out crucible moment.
00:15:16.639 --> 00:15:26.320
But the agents that are fighting and surviving and doing just as good as last year, um, you know, that's that's making them.
00:15:27.200 --> 00:15:34.559
And it's making it so that they're gonna be stronger when there are any improvements in the market.
00:15:35.279 --> 00:15:49.519
But I think it's especially important to put into place systems right now so that when the market improves, you're not just getting busier and then like hitting capacity, you're gonna get busier and able to process more business.
00:15:51.360 --> 00:15:52.960
Nick, do you agree so far?
00:15:53.279 --> 00:15:55.279
Yeah, I mean, that's an interesting perspective, right?
00:15:55.440 --> 00:15:57.600
Um, kind of how Carl Carl laid it out.
00:15:57.679 --> 00:15:59.840
It's like, hey, you know, the market's down overall.
00:15:59.919 --> 00:16:01.519
Like agents are doing less deals.
00:16:01.600 --> 00:16:11.759
So if you're still doing the same amount of deals, you you know technically have you know more market share and um you're you're you're kind of producing when other agents have stopped producing.
00:16:11.919 --> 00:16:15.519
So that's a very optimistic um you know message you can give yourself.
00:16:15.679 --> 00:16:21.519
I think that um if you're doing the you know same amount of deals, higher price point, you're you're up, right?
00:16:21.600 --> 00:16:24.799
Your GCI is up, your volume is up, so that's great.
00:16:24.960 --> 00:16:31.120
Um, but I think typically what I've what I realize is like agents kind of do the same range, right?
00:16:31.360 --> 00:16:37.440
Like, you know, 20 to 30 deals, 40 to 50 deals, you know, 15 to 20 million in volume, right?
00:16:37.519 --> 00:16:40.320
Like you kind of operate um in a range.
00:16:40.480 --> 00:16:52.399
And so I think if you're you're hitting that same range, um, you might be making more or less money or doing more or less deals, but you're still operating in your your your business, right?
00:16:52.559 --> 00:16:57.120
And so um, yeah, I mean, technically I think you're doing less deals, right?
00:16:57.440 --> 00:17:01.840
But uh, but I I think technically your business is not growing, right?
00:17:02.000 --> 00:17:09.839
But maybe you're operating in your range, and you know, that might be the capacity that you have um to to operate in anyway.
00:17:10.640 --> 00:17:19.279
Well, I will I will kind of be less generous, I guess, in my assessment than everyone else so far.
00:17:19.440 --> 00:17:27.839
I think if if you're doing the same amount of of volume and GCI, like and the market's down, yes, technically you're you're you're gaining market share.
00:17:27.920 --> 00:17:30.319
And you know, if you want to hang your hat on that, great.
00:17:30.559 --> 00:17:36.160
But market share's not gonna pay for higher groceries, market share is not gonna pay for higher gas bills, right?
00:17:36.319 --> 00:17:47.039
So, you know, you have to be honest, you probably are slipping financially just with inflation, and and we're not seeing any signs of that really getting better.
00:17:47.279 --> 00:17:51.359
So um, you know, don't beat yourself up, right?
00:17:51.440 --> 00:17:55.599
Like and have that get in that negative self-talk cycle, right?
00:17:55.680 --> 00:18:10.400
But but really assess if you know the income you're making today is that providing you what you what you need in life and and and maybe what what it could in 2020, 2021, right?
00:18:10.480 --> 00:18:15.519
And and and you know, take a hard look at and and use that to motivate you and and and push for more, right?
00:18:15.839 --> 00:18:21.279
Because again, market share is not gonna pay for five dollar a gallon gas.
00:18:21.599 --> 00:18:22.160
I agree.
00:18:22.319 --> 00:18:25.359
I was Carl went optimistic, so I stayed optimistic too.
00:18:25.519 --> 00:18:40.319
But my initial uh my initial was like, no, bro, you're you know, it's it's the same like in sports, like right, if you score 25 points a game and you didn't score 26 the next season, like you are stagnant, even if everyone else is scoring less points.
00:18:40.480 --> 00:18:41.920
So I understand Carl's perspective.
00:18:42.000 --> 00:18:43.839
I think it's like a really good perspective, you know.
00:18:44.000 --> 00:18:49.839
And I guess like like that's a good economics, you know, like an economist way of looking at it, right?
00:18:50.160 --> 00:18:54.000
But um, yeah, if you're not doing more deals, your business is stagnant.
00:18:54.160 --> 00:19:00.559
And I guess, you know, how Dan wrapped it up is like, is it good if your business is stagnant because everything else is expensive?
00:19:00.720 --> 00:19:03.599
So I'm I'm I'm residing with Dan and being harsh.
00:19:03.920 --> 00:19:04.400
All right.
00:19:04.640 --> 00:19:05.680
One one someone over.
00:19:05.759 --> 00:19:08.079
So so get out there, make more calls, right?
00:19:08.160 --> 00:19:09.440
Have more conversations.
00:19:09.599 --> 00:19:16.079
Um you know, you're gonna have to work harder for longer uh than than than than you in most scenarios, I think.
00:19:16.240 --> 00:19:28.160
Um, but the good news, like if if you gain in market share and you actually increase your income, imagine what will happen to your business when the wave comes back, right?
00:19:28.319 --> 00:19:34.960
Because uh, you know, the the the surfers that paddle and do the work and get ready, like they're the ones that have the best ride.
00:19:35.039 --> 00:19:44.880
And you know, we're we're four or so years into this down cycle, and most down cycles in real estate, that doesn't mean this one will be the same, but most of them are in that four to six year range.
00:19:45.039 --> 00:19:49.920
Uh, you know, the last one in 2008 was was right in that four and a half or so year range.
00:19:50.079 --> 00:19:55.359
So um be ready when the wave comes back, right?
00:19:55.680 --> 00:19:59.359
Be ready to to ride it longer and further and and and and do the work now.
00:19:59.440 --> 00:20:09.519
And if if you're an agent that's motivated by that, wants to put in the work, um, you know, you're the type of person we would love to have in our exp legacy family.
00:20:09.680 --> 00:20:18.400
We're gonna be right there with you paddling and and and and putting in the work and and you know, getting you on our masterminds and our Zooms and getting you access to our training and courses.
00:20:18.480 --> 00:20:22.559
And you know, we're partnered with Tim and Julie Harris uh at EXP Reality.
00:20:22.720 --> 00:20:32.880
They're they're some of the the biggest you know people in the company, have over 3,500 people in their group and offer their training and coaching to to our group as well.
00:20:32.960 --> 00:20:35.680
So, you know, we'd love to have that conversation with you, right?
00:20:35.759 --> 00:20:44.000
And and show you how you can save on your commissions and fees and and you know, earn stock awards, build revenue share that pays you monthly, right?
00:20:44.079 --> 00:20:47.759
So that's you know, someday you have a path off the transaction treadmill.
00:20:47.839 --> 00:20:54.000
So if you're wanting to know more about that, all you got to do is uh text any one of us.
00:20:54.160 --> 00:20:58.640
So um, you know, James, if they want to have a conversation with you, how should they get in touch?
00:20:58.880 --> 00:21:02.400
Yeah, they can text me at 202-841-7815.
00:21:02.720 --> 00:21:04.640
Uh, you can text me exp realty.
00:21:04.799 --> 00:21:07.519
Again, that's 202-841-7815.
00:21:08.079 --> 00:21:09.519
What about you, Carl?
00:21:10.160 --> 00:21:14.720
Text me bridge at 804-665-4344.
00:21:14.960 --> 00:21:18.160
And um, and Carl can also help you if you need a good lending solution.
00:21:18.240 --> 00:21:20.559
So that's that's why he wants you to text you bridge, right?
00:21:21.519 --> 00:21:28.000
Yeah, we'll help you increase that GCI so that way, you know, even if you aren't getting more market share, you're making more money.
00:21:28.240 --> 00:21:29.519
All right, Nick, what about you?
00:21:29.759 --> 00:21:34.799
Text get money to 202-255-9560.
00:21:35.519 --> 00:21:41.680
All right, and you can you can just text anything to me, 703-638-4393.
00:21:42.079 --> 00:21:51.279
All right, so um moving on, if if if you know an agents hear this, they're motivated, they they want to, they want to go out and actually sell more homes, right?
00:21:51.440 --> 00:21:54.799
Increase their market share and and their their paychecks.
00:21:54.880 --> 00:21:58.559
Uh, what is the one activity that they need to track daily?
00:21:58.720 --> 00:21:59.759
We'll start with you, Nick.
00:22:00.240 --> 00:22:02.480
Um, how many contacts you hit, right?
00:22:02.640 --> 00:22:07.039
Like AI, Instagram, you know, open hand, like who cares?
00:22:07.279 --> 00:22:11.599
Call people, text people, DM people about real estate.
00:22:11.839 --> 00:22:14.480
You need to track how many conversations you have.
00:22:14.720 --> 00:22:16.960
So, you know, you have dials, right?
00:22:17.119 --> 00:22:19.279
You have contacts and you have appointments set.
00:22:19.440 --> 00:22:26.319
Um, I don't necessarily track my dials because I don't care how many, you know, people I called, I just care how many people I talked to.
00:22:26.480 --> 00:22:29.200
And then from there, I think you can build, you know, a real business.
00:22:29.279 --> 00:22:32.400
You would know if okay, if I talk to five people, I said two appointments, right?
00:22:32.480 --> 00:22:33.519
Then I have a percentage.
00:22:33.599 --> 00:22:37.759
If I talk to 10 people and I set four appointments, like right, you need to know your percentage.
00:22:37.839 --> 00:22:48.160
You need to know how many people you need to talk to to set an appointment, how many appointments need you you need to go on, go on to get a signed contract, you know, so on and so forth, you know, Gary Keller, right?
00:22:48.400 --> 00:22:51.599
But I think you need to track um contacts daily.
00:22:51.920 --> 00:22:54.720
Just just like football, full contact sport.
00:22:55.039 --> 00:22:56.799
Uh Carl, what about you?
00:22:56.960 --> 00:22:59.359
What's the one activity agents need to track every day?
00:22:59.599 --> 00:23:00.799
I'm with Nick on this.
00:23:00.880 --> 00:23:03.519
It's it's specifically the conversations that you're having.
00:23:03.680 --> 00:23:10.480
I guess to get a little bit more narrow, like nothing sold over text and email.
00:23:10.720 --> 00:23:16.240
So the purposes of using text and emails is to get on the phone.
00:23:16.319 --> 00:23:19.759
And then the purpose of getting on the phone is to get appointments.
00:23:20.000 --> 00:23:20.720
Point blank.
00:23:20.880 --> 00:23:29.279
How many meaningful conversations are you having with people that are either going to transact with you or refer you people that will transact with you?
00:23:29.599 --> 00:23:39.279
And I I'm a firm believer, I'm probably a little biased because being on the lending side, but I want to go after people that are going to refer me business.
00:23:39.519 --> 00:23:44.319
I I want to, I mean, obviously you got to make relationships with the people that are going to transact with you.
00:23:44.480 --> 00:24:00.559
But if you spend more time building relationships with people that are going to be, as James calls it, a golden goose that gives you multiple referrals, connects you with multiple people that are going to transact, then that's going to be a lot more worthwhile.
00:24:00.640 --> 00:24:05.440
Uh a higher ROI on the time that you're spending talking to people.
00:24:06.880 --> 00:24:08.160
All right, James.
00:24:08.720 --> 00:24:10.400
Anything different on this?
00:24:12.160 --> 00:24:12.480
No.
00:24:14.640 --> 00:24:18.319
I'm trying to think of uh something a little more interesting than agreeing.
00:24:18.640 --> 00:24:37.200
Um but it's how many two-minute or longer conversations that you're having uh and specifically with people that are in a position to either refer you or to work with you.
00:24:37.359 --> 00:24:42.480
And you don't know who those people are necessarily until you talk to them.
00:24:42.640 --> 00:24:47.680
Uh so just as many two-minute or more conversations that you have, the better.
00:24:48.319 --> 00:24:51.039
Yeah, so I'll I'll go ahead and agree with everyone.
00:24:51.119 --> 00:25:00.720
And I actually saw a post the other day from John Chaplack, you know, one of the great real estate coaches, and uh he said that you know, he was talking about a big team leader.
00:25:00.880 --> 00:25:09.440
I don't I don't know which team it was, but uh you know, they get as you build teams and systems, you can have complex tracking and metrics and all this.
00:25:09.599 --> 00:25:13.279
And he said the guy just wrote two numbers on his whiteboard.
00:25:13.680 --> 00:25:15.440
Uh I can't even remember what they were.
00:25:15.599 --> 00:25:17.839
It was probably like 10 and 2, something like that, right?
00:25:17.920 --> 00:25:22.880
And he needed to talk to to 10 people a day and and set two appointments.
00:25:22.960 --> 00:25:27.839
And I think that was for like the the sales part of this business and and the recruiting part, right?
00:25:28.000 --> 00:25:42.079
So um, you know, we we we always like want to make it pretty complicated and um sometimes I think that's that's a way we talked about this last week to avoid like the real work, right?
00:25:42.240 --> 00:25:46.000
And the simpler you get, the more repeatable it's gonna be.
00:25:46.079 --> 00:25:48.960
And and you know, and and that guy had had two numbers, right?
00:25:49.039 --> 00:25:49.680
Like 10 and 2.
00:25:49.759 --> 00:25:52.799
Like talk to talk to 10 people, set two appointments.
00:25:52.880 --> 00:25:59.599
And you know, I guarantee you if you simplify everything you're doing, like we talk a lot about social media, AI, marketing, door knocking, open houses, right?
00:25:59.680 --> 00:26:03.359
But if if all you if all you do is come up with two numbers, right?
00:26:03.440 --> 00:26:24.960
Like I'm gonna talk to this many people and set this many appointments, and and you know, you hit it uh most days, you're you're gonna be in that rare category that is not just gaining market share by selling the same amount of homes and declining market, but increasing the amount of homes you're selling and gaining market share and having your income stay ahead of inflation.
00:26:25.200 --> 00:26:34.319
And if you're um not sure that you want to make phone calls that day or talk to people, or you're like, oh, like I don't know, is you're scared to call a lead, right?
00:26:34.480 --> 00:26:38.799
Um, I would challenge you to figure out what your average commission is, right?
00:26:38.880 --> 00:26:40.880
Mine, I think, is 15,000.
00:26:41.039 --> 00:26:47.039
Um, and you know, kind of say to yourself, like, hey, this call could make me$15,000.
00:26:47.519 --> 00:26:51.440
And uh you might you might end up hitting, hitting dial on that.
00:26:51.519 --> 00:26:52.720
So um, that's something I do.
00:26:52.799 --> 00:26:57.359
When I when I don't feel like um making calls or I'm like, oh, I don't know, it's gonna be a challenging lead.
00:26:57.440 --> 00:27:00.480
I'm always like, but is it worth$15,000 to call?
00:27:00.559 --> 00:27:02.319
And you know, usually it is.
00:27:02.640 --> 00:27:10.480
Yeah, or or the next time you fill up your your gas tank, just take a picture of the pump and and and put that as the background on your your phone.
00:27:11.279 --> 00:27:23.680
Alex Horry Mosey, uh, I recently heard him say that focus is an extra I'll mess it up, but something to the effect of focus is an exercise in subtraction.
00:27:23.839 --> 00:27:34.640
So if you cut out, you know, cut out 95% of what you're doing, except for having those two-minute or longer phone conversations, or whatever it is that is moving the needle.
00:27:34.880 --> 00:27:37.119
Um, and I would argue that that's it.
00:27:37.440 --> 00:27:39.839
Uh that you gotta cut stuff out.
00:27:40.960 --> 00:27:42.400
Yeah, love it.
00:27:42.559 --> 00:27:44.799
Focus is uh is is yeah, subtraction.
00:27:45.119 --> 00:27:45.920
Uh all right.
00:27:46.799 --> 00:27:48.000
Moving on.
00:27:48.319 --> 00:27:52.240
Uh would you take an overpriced listing no matter what?
00:27:52.559 --> 00:27:56.720
Or do you have a cutoff and is is it a dollar amount or percentage amount if you do?
00:27:56.960 --> 00:27:59.039
We'll start with start with you, James.
00:28:01.519 --> 00:28:10.640
An overpriced listing is still an opportunity, um but you gotta be clear with uh with yourself on what that opportunity is.
00:28:11.039 --> 00:28:17.599
And that opportunity is you're gonna be visible, it's gonna generate conversations with neighbors, with buyers.
00:28:18.559 --> 00:28:22.799
Um it's not necessarily gonna lead to earning a commission.
00:28:23.039 --> 00:28:38.480
It's gonna be an opportunity to educate that client where they're wanting to put it for above market, and you can set expectations and still list it for way above what is realistic.
00:28:38.799 --> 00:28:46.559
But I think at the end of the day, it's it's an opportunity, and you just gotta decide whether the cost of the photos, the cost of your time, etc.
00:28:47.599 --> 00:28:49.839
Um is is worth it.
00:28:50.000 --> 00:28:51.599
Yeah, I think in a lot of cases it is.
00:28:52.240 --> 00:28:56.640
Um obviously what about the risk?
00:28:59.359 --> 00:29:01.440
Especially if you've got a price reduction plan in place.
00:29:01.519 --> 00:29:17.680
But what about the risk of you know, the next time you go into a listing appointment or you're competing and and you know, some other agent uses your your days on market in that neighborhood or your list price to sold price ratio against you?
00:29:17.839 --> 00:29:20.400
Like could it cost you better a future business?
00:29:20.640 --> 00:29:26.000
Or yeah, I think every agent needs to be good at communicating uh their value.
00:29:26.240 --> 00:29:41.599
And you know, if some other agent is saying, uh, hey, look at all these, you know, look at this failed listing that they had, it's your responsibility to say, uh, yeah, these are these are the clients that took my advice, and these are the clients that didn't.
00:29:41.839 --> 00:29:44.960
Uh because that agent's gonna cherry pick the data anyway, right?
00:29:45.039 --> 00:29:50.079
They're not they're not showing your your your best sales, they're not showing their worst sales, right?
00:29:50.160 --> 00:30:00.000
They're they're cycling through the different ways that you can measure and look at metrics, and they're picking the ones that are beneficial to them.
00:30:00.160 --> 00:30:04.000
So it's your responsibility to to communicate clearly.
00:30:04.079 --> 00:30:05.200
And I I've personally done that.
00:30:05.279 --> 00:30:11.039
I said, hey, because I've had I've had clients uh or prospective clients say, hey, you know, can you show me your track record?
00:30:11.200 --> 00:30:12.240
And I say, Yeah, sure.
00:30:12.319 --> 00:30:15.920
And and furthermore, here are the people that took my advice, here are the people that didn't.
00:30:16.079 --> 00:30:21.359
And I think that's a net benefit because you're you're showing them like, hey, look, I've got great advice.
00:30:21.519 --> 00:30:24.480
And if you don't take my advice, it's gonna be a problem for you.
00:30:26.319 --> 00:30:27.440
Nick, what about you?
00:30:27.680 --> 00:30:32.720
I mean, I think you can, you know, reasonably take take an over an overpriced listing that's reasonable, right?
00:30:32.799 --> 00:30:54.079
Like I think if, you know, you explain the comps to a seller and they think that, you know, hey, like, I know you think my range is, you know, 700 to 725, but we did XYZ in the house, so we want a price at 775, the last comp that was also updated, but you know, a thousand square foot bigger than my house, we feel like we're still as valuable as that.
00:30:54.160 --> 00:30:58.880
I think that that's a reasonable, that's a reasonably overpriced, like, okay, you're at 775.
00:30:59.039 --> 00:31:00.079
Here's my advice.
00:31:00.240 --> 00:31:10.960
Let's come up with the price reduction plan um to get you back to market if, you know, for some reason we're not um, you know, selling or getting foot traffic or uh uh, et cetera.
00:31:11.119 --> 00:31:13.680
Um, but I I mean I don't think you need to take every overpriced listing.
00:31:13.759 --> 00:31:21.680
Like, I'm not gonna take a$500,000 listing um that somebody thinks is worth one too and spend money on and spend money and time on that, right?
00:31:22.000 --> 00:31:27.279
So if it's reasonably overpriced and you have that conversation in a price reduction plan, sure.
00:31:27.440 --> 00:31:29.279
But if not any listing, right?
00:31:29.359 --> 00:31:34.880
That's saying like, yeah, I'll take a$200,000 condo and list it for$12 million just so I can have conversations about it.
00:31:35.519 --> 00:31:37.440
Waste of time and money, you know.
00:31:38.000 --> 00:31:47.200
I think it's worth, no matter what, I think it's worth taking the listing appointment, even if they say, Yeah, I want$1.2 for my$500,000 home.
00:31:47.359 --> 00:31:59.039
Uh, because then you have the opportunity to educate them, build some trust, and say, hey, you know, um I want to earn some money, of course, but I also want to help you.
00:31:59.200 --> 00:32:04.880
Um, and the best way that I can help you is to show you uh, hey, you know, it's it's not gonna work.
00:32:05.039 --> 00:32:12.880
I also want to understand why you want$1.2 um and uh and what your options are.
00:32:13.119 --> 00:32:14.880
And maybe you're not gonna sell it today.
00:32:15.039 --> 00:32:19.680
Maybe you're gonna work with some agent that says they can get you 1.2, that's not gonna be me.
00:32:20.079 --> 00:32:23.359
Uh, but I'm gonna treat you fairly and honestly.
00:32:23.920 --> 00:32:29.200
And you know, maybe when you are ready, uh I've had those conversations before.
00:32:29.440 --> 00:32:32.160
Uh, you know, it's worth it's worth a million fifty.
00:32:32.880 --> 00:32:41.359
They come back and say, I want 1.3, and I say, Hey, uh it's not gonna work, and this is why.
00:32:41.599 --> 00:32:47.759
And and I I've still worked with them after that, and I'm still gonna sell that home in April.
00:32:48.720 --> 00:32:53.839
Yeah, yeah, there's definitely scenarios where like the market catches up to their expectations over time.
00:32:54.000 --> 00:32:58.000
So uh definitely worth the conversation to say the least.
00:32:58.160 --> 00:33:05.279
Carl, should agents take overpriced listings and and is there a limit uh in that scenario for you?
00:33:05.599 --> 00:33:08.480
I've worked with agents that are on both sides of this.
00:33:08.720 --> 00:33:17.440
So I have some agent friends that say, hey, I absolutely will not take it because I can't sell your house for what you want it for, right?
00:33:17.680 --> 00:33:21.039
Don't and have said, don't do the aspirational pricing.
00:33:21.279 --> 00:33:50.000
And then I have other really successful agents that I work with that, like Nick said, you know, they go into it building in an agreement with the seller on what future price reductions are going to be when the house doesn't sell after 30, 60 days or whatever it is, because then that way you're already teeing it up from the beginning that, hey, I mean, the market has already dictated that nobody wants to buy the house at the price that we started at.
00:33:50.160 --> 00:33:56.559
So, you know, the there's only one thing that we can really control is is the price of the home.
00:33:56.880 --> 00:34:11.039
And I I think also like it in that in those initial conversations, it's important to convey to the seller that how you price the home is going to be directly tied to how quickly they need to sell.
00:34:11.280 --> 00:34:25.440
Like if it's not a true need, like they don't really need the money right now, they just want to offload that house, then you know you have a lot longer of a leash, you know, because you're not restricted by time.
00:34:25.760 --> 00:34:45.679
But if they're in a tough place financially or they have plans for that, you know, that money that they're going to get from selling the home in a short time window, then I think that's an opportunity for you to be able to have an uh a conversation that would be meaningful to let them know that that you're you're shooting yourself in the foot, really.
00:34:45.760 --> 00:34:52.960
You're you're working against your your goals to do aspirational pricing if you need money quickly from the sale of that home.
00:34:53.119 --> 00:34:55.440
And it's just gonna put you in a position of weakness, right?
00:34:55.599 --> 00:34:59.199
You always want to be negotiating from a position of strength.
00:34:59.280 --> 00:35:04.400
And if with aspirational pricing, I don't know how you ever put yourself in a position of strength.
00:35:04.480 --> 00:35:07.840
You're always just backing yourself into a position of weakness from a negotiating standpoint.
00:35:07.920 --> 00:35:09.440
But I'll close with this.
00:35:09.760 --> 00:35:18.159
Uh, one of the agents I work with, I really loved how he always said sometimes the biggest negotiations is with your own client.
00:35:18.320 --> 00:35:23.119
So a lot of agents like to think that they're always negotiating with the people on the other side of the transaction.
00:35:23.360 --> 00:35:29.199
But in reality, for you to make a deal work, you really got to be able to negotiate with your own client.
00:35:30.320 --> 00:35:33.360
Yeah, so just a couple quick points here.
00:35:33.599 --> 00:35:49.280
Um the the the length of time, if if if they don't need to sell quickly, you know, you're you're still hurting them by overpricing because as those days on market accumulate, now that million dollar place might only get 950, right?
00:35:49.440 --> 00:35:51.039
Because buyers look at the days on market.
00:35:51.119 --> 00:35:58.559
It's it's one of very few financial like indicators they have on you know if a home is priced right.
00:35:58.800 --> 00:36:01.360
So the the days on market can still be deadly.
00:36:01.599 --> 00:36:06.960
Uh yes, I personally would would take one if I had the price reduction plan in place.
00:36:07.199 --> 00:36:11.519
I probably wouldn't take it if it was like over 10% above market value.
00:36:11.679 --> 00:36:27.519
So like um, you know, if it's a$500,000 condo and$550, and we had like a 15-day and 30-day price reduction plan in place, that would that would be like in my wheelhouse, right?
00:36:28.000 --> 00:36:33.519
Uh above that, I think you're you're starting to kind of damage your own reputation.
00:36:33.599 --> 00:36:45.360
And you know, you yes, you can like bifurcate the stats and go into listening presentation and say, like, here are the stats of the sellers that listen to me and price where I wanted, right?
00:36:45.440 --> 00:36:50.880
And and look, I'm 100%, you know, the list price is sold price, 10 days average a day on market.
00:36:51.199 --> 00:37:01.280
Um you could actually show them the ones who didn't listen to you too, and and maybe that'll help pull them in the right way on pricing.
00:37:01.440 --> 00:37:06.320
So uh that that's an interesting take that that you know James kind of brought up.
00:37:06.480 --> 00:37:10.480
So um but yeah, I think I think there's some wiggle room there.
00:37:10.719 --> 00:37:21.039
Um but you know, I think the key is like in your in your business, your prospecting, your marketing is to get in front of get in front of people that have to sell, right?
00:37:21.519 --> 00:37:27.840
Uh people that are selling because of a job transfer, a change in family status, right?
00:37:28.159 --> 00:37:29.199
Um things like that.
00:37:29.360 --> 00:37:39.760
So uh those have to sellers are gonna be a lot easier to work with than the you know, the aspirational move up buyer that that might sell if they get the right price.
00:37:40.000 --> 00:37:44.880
So uh keep that in mind, and then we'll we'll wrap up with uh James here.
00:37:44.960 --> 00:37:48.800
You you had something you wanted to talk about uh on fear versus opportunity.
00:37:48.880 --> 00:37:51.599
So it's your turn to pose a question to us, I guess.
00:37:52.639 --> 00:37:53.119
Cool.
00:37:53.360 --> 00:38:09.039
Uh so I guess if you turn it into a if you turn it into a question form instead of just a statement, um, you know, how do you how have you recently seen people that are either operating out of fear or or operating out of opportunity?
00:38:09.599 --> 00:38:13.599
And how do you how do you see that benefiting and hurting different people?
00:38:16.079 --> 00:38:25.599
Yeah, my my my take on that one is if if they're operating on fear, I think they're they're typically staying in analyze and plan mode, right?
00:38:26.000 --> 00:38:43.039
Um they're constantly coming up with a new plan or analyzing this plan versus that plan versus the the people that are really driven by opportunity, um they're getting out of planning mode, they're getting out of analyzing mode, and they're going out and executing.
00:38:43.199 --> 00:38:58.880
So they're they're having more conversations, you know, they're going to like a new real estate training or event, or um making that brokerage switch that they know will will bring them more profitability, right?
00:38:58.960 --> 00:39:02.320
Or elevate the group of people that they're surrounding themselves with.
00:39:02.559 --> 00:39:09.760
So, you know, people that people that are opportunity-based are gonna take action, and and people that are fear-based are gonna analyze and plan.
00:39:11.679 --> 00:39:17.760
There's two ways to look at this is are we looking at it from an agent viewpoint or are we looking at it from a consumer standpoint?
00:39:17.920 --> 00:39:19.440
I'll take the agent.
00:39:19.679 --> 00:39:27.440
From an agent standpoint, like Nick talked about earlier, it when you're fearful of calling someone, he thinks about his commission check.
00:39:27.599 --> 00:39:32.719
Well, that that's that's just all like I like fear versus hunger more than fear versus opportunity.
00:39:32.800 --> 00:39:35.440
So I like to look at it from a fear versus hunger standpoint.
00:39:35.599 --> 00:39:43.599
I'm more hungry to get the business, and I'm more hungry to grow than I am fearful of having tough conversations.
00:39:43.920 --> 00:39:50.960
So if the if the hunger outweighs the fear, you're gonna take action, you're going to succeed, you're gonna have valuable conversations.
00:39:51.280 --> 00:39:55.760
And I think this is the perfect time to talk about the story of burning the boats.
00:39:55.920 --> 00:39:57.920
Have you guys heard the story of burning the boats?
00:39:58.079 --> 00:39:59.280
Do you know that one?
00:39:59.599 --> 00:40:01.840
Uh in like Greek mythology?
00:40:02.079 --> 00:40:07.360
No, no, it's uh Cortez and the Aztecs, and I think I think there's a Chinese example of it too.
00:40:07.679 --> 00:40:17.360
Yeah, so so the Spanish showed up on the Mexican shore, and that there were only like 500 of the Spanish that were gonna take on the whole Aztec empire.
00:40:17.519 --> 00:40:21.440
And Cortez said, Hey, there's no turning back.
00:40:21.599 --> 00:40:26.639
We're burning the boats, we're going all in, we're gonna win or we're gonna die.
00:40:26.880 --> 00:40:33.280
So next time you're fearful of making a call, burn the boats and just make the call go all in.
00:40:34.960 --> 00:40:36.079
Yeah, I love that.
00:40:36.239 --> 00:40:37.440
I love that story, right?
00:40:37.599 --> 00:40:39.440
You know, they couldn't they couldn't retreat.
00:40:39.519 --> 00:40:46.320
Um, their only option was to to to conquer or be conquered and and yeah, so burn the boats.
00:40:46.639 --> 00:40:49.920
I mean, you know, I'm not cool with a suicide mission, but I get the point.
00:40:50.639 --> 00:40:51.599
I guess that's cool.
00:40:51.760 --> 00:40:59.920
Like I guess like every football coach should say that before you go out on the field, you know, like, but that's not a really that's a stupid real life example.
00:41:01.599 --> 00:41:05.840
But uh, but uh but it's like we're going all in no matter what.
00:41:05.920 --> 00:41:09.360
Like maybe you should like, you know, but uh I mean I don't know.
00:41:09.440 --> 00:41:11.519
I don't I don't really understand like fear of, I don't really get it.
00:41:11.599 --> 00:41:14.400
Like fear of this opportunity, I don't have like I'm not scared of things.
00:41:14.480 --> 00:41:17.119
I think it's more like scarcity and laziness that you're fighting against.
00:41:17.280 --> 00:41:26.000
Like, hey, are you you know, are you operating scarcity so you won't like make a decision or you know, spend money on a lead gen platform or um you know, do that open house.
00:41:26.079 --> 00:41:27.280
Like do you have scarcity?
00:41:27.360 --> 00:41:28.960
Um, or are you just like lazy?
00:41:29.039 --> 00:41:31.920
Like you just want to like hang around and not like do the work, right?
00:41:32.079 --> 00:41:38.400
So I really think it's just um I don't know, it's like philosophy thing, you know, it's a vibe, but it's just like make calls, bro.
00:41:38.480 --> 00:41:38.960
Like, who cares?
00:41:39.039 --> 00:41:45.039
Fair burn the boats, favorite opportunity, scarcity or not, like make your calls, bro, get the money, or don't.
00:41:45.440 --> 00:41:47.599
And that's and that's it, you know.
00:41:48.000 --> 00:41:56.480
And don't hang out with Carl if you kind of want to be like, you know, hey, I spent 10,000 on this lead gen platform, it's not really good anymore.
00:41:56.559 --> 00:42:01.199
I want to pivot with Carl, you gotta just keep investing that money, you know what I mean?
00:42:03.440 --> 00:42:11.360
You know, Carl, Carl's still uh still hitting AOL and still hitting the um, you know, he's just like nah, bro.
00:42:11.440 --> 00:42:13.599
We we we're we're all in on this, you know.
00:42:13.920 --> 00:42:22.000
And he wasn't he wasn't saying the Spanish couldn't they couldn't switch weapons or you know go from bow and arrow to gun, or he's just saying they can't get back on the boat.
00:42:22.400 --> 00:42:24.159
No, I get it, I get it, I get it, I get it.
00:42:24.320 --> 00:42:26.239
They could try to escape up the coast.
00:42:26.639 --> 00:42:36.400
Yeah, but uh yeah, I mean my take is looking at the world through abundance and opportunity is way more productive, way more enjoyable.
00:42:36.559 --> 00:42:41.360
Maybe you're wrong, uh, but it's a better, hell of a lot better way to live.
00:42:41.519 --> 00:42:44.639
Uh and it's way more productive.
00:42:44.719 --> 00:42:53.360
And the people that uh operate out of opportunity and abundance, you know, they they can still de-risk, right?
00:42:53.519 --> 00:42:55.119
They can still make smart decisions.
00:42:55.360 --> 00:43:07.920
Um but there's something different in your brain uh that opens up more opportunity for you, that opens up more success for you when you're operating out of opportunity.
00:43:08.000 --> 00:43:08.880
There's this really awesome book.
00:43:08.960 --> 00:43:09.920
It's one of my favorite books.
00:43:10.000 --> 00:43:12.800
It's called The Hour Between Dog and Wolf.
00:43:12.960 --> 00:43:38.960
Uh, and it talks about the like the psychological and then physiological connection and and patterns when you're in an environment where you're gripped by fear and your brain stops working uh right with lots of cortisol, uh your your frontal lobe is is not working, uh, but uh you know, when there's opportunity, that's that's not happening.
00:43:39.199 --> 00:43:41.760
Um uh it can go too far, right?
00:43:41.840 --> 00:43:44.719
You can be too optimistic uh and too rosy.
00:43:44.800 --> 00:43:59.199
Um but I think if you're if you're in that in that nice middle ground where you're thinking about opportunity, uh you're thinking about building relationships, uh, and you're thinking about helping others, that's gonna build relationships and that's gonna lead to success instead of.
00:44:00.079 --> 00:44:01.760
Thinking, well, what if this bad thing happens?
00:44:02.000 --> 00:44:05.199
Much more productive to think, hey, what if this good thing happens?
00:44:05.440 --> 00:44:22.079
And you can have like competing theses in your head, you know, one voice that's that's in check, but talking about those negative things that can happen, but making sure that you're really embracing the uh the other voice that's saying, hey, don't forget about these good things that can happen.
00:44:22.320 --> 00:44:24.559
What if you succeed?
00:44:24.880 --> 00:44:26.480
Because there's no debtor prisons.
00:44:26.639 --> 00:44:38.079
I remember listening to a uh a really successful real estate developer, uh, and he said, you know, a couple million dollars on the line, uh, there's no debtors' prisons, they're not gonna send me to prison.
00:44:38.239 --> 00:44:39.679
I just go bankrupt.
00:44:39.920 --> 00:44:41.840
And uh and I can try again.
00:44:42.079 --> 00:44:43.679
I think that was like my disconnect.
00:44:43.760 --> 00:44:48.239
I never had a situation in my head where I was just like, I might not succeed.
00:44:48.320 --> 00:44:50.159
And it doesn't like register, you know.
00:44:50.639 --> 00:44:51.039
Good.
00:44:51.519 --> 00:44:51.760
Good.
00:44:52.400 --> 00:44:56.800
It doesn't, it doesn't register that I probably like that I probably won't win.
00:44:56.880 --> 00:44:58.159
So I don't get the other side.
00:44:58.239 --> 00:45:00.559
I don't even, it doesn't, I don't understand.
00:45:00.639 --> 00:45:01.199
It's confusing.
00:45:01.280 --> 00:45:02.800
It's I can't comprehend.
00:45:03.840 --> 00:45:05.199
That's why you're successful, Nick.
00:45:05.920 --> 00:45:20.960
I'll I'll tell you the one, you know, we've we've hired and trained and developed hundreds and hundreds of agents on the team, and I I I don't know if I can recall this type of agent ever succeeding.
00:45:21.360 --> 00:45:24.239
And and maybe there is, and I'm just missing it.
00:45:24.400 --> 00:45:38.159
But uh I can recall many circumstances where this type did not succeed, and and it's you know, someone in the mid or twenties or beyond that's living in parents' basement and still getting support from the basement.
00:45:38.400 --> 00:45:46.079
Like if they if they didn't, you know, sell a home in the first like three months, it's no big deal.
00:45:46.159 --> 00:45:47.599
Nothing in their life changed.
00:45:47.760 --> 00:46:06.719
Um so like the people that that needed to because they weren't being supported, or even furthermore, they were supporting others, um yeah, they they succeeded at a at a lot higher rate than the person who just had the the fallback of of mom and dad.
00:46:06.800 --> 00:46:11.760
And not knocking that, I'm sure we all like love our kids and would do that.
00:46:12.079 --> 00:46:18.960
Um but you know, there there is a cost to having that security.
00:46:19.199 --> 00:46:24.719
So there is something to Carl's Burn the Boats story.
00:46:25.199 --> 00:46:28.559
Uh you know, the people that's that's all I'll say on that.
00:46:28.719 --> 00:46:36.880
We can we can end this has been a great show talking about Aztecs and and Spanish and Blaine Kiffin and Dabo Sweeney.
00:46:36.960 --> 00:46:39.440
So who knows what we'll talk about next week.
00:46:39.599 --> 00:46:47.760
But if you guys have listened this far through through all of this, uh clearly you think we deserve a five-star review.
00:46:47.840 --> 00:46:56.800
Uh so tap that on Apple, leave us a comment and a review and and and you know questions as well, uh, either on Apple, Spotify, or YouTube.
00:46:57.119 --> 00:47:00.719
And we will we might give you a shout out on the next show if you do that.
00:47:00.880 --> 00:47:04.480
So thank you for tuning in, guys, and we will see you next week.
00:47:04.880 --> 00:47:09.039
You've been listening to Hyper Best Asian Growth Show with Gary Stolen Dan Lesnik.
00:47:09.440 --> 00:47:12.320
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