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Welcome to the Hyper Fast Agent Growth Show.
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Get real strategies, real results, and real estate them differently.
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Lead generation, team building, AI, and more for billion dollar agents, best selling authors, international speakers, real estate coaches, can be done listening.
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Alright, welcome to this episode of the Hyper Fast Agent Growth Show.
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We are back today with our panel.
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It's been a few weeks since we've had uh one of these panel episodes, so a lot to catch up on.
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Uh, I've been on the RV trip to the other side of the country and back, and we made it so two months on the road.
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Um, so so back and ready to ready to hammer out some podcasts and and uh hopefully provide some values to all of our listeners today.
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We've got James Buckley and Carl Svenson joining us there.
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Welcome guys.
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Um, we've got a great lineup today, so I'll give you the overview.
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All right, our our our first topic we're gonna cover is what would you do if you lost every lead you had today?
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Your CRM disappeared, how would you get your next 10 deals?
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Uh, then we're gonna talk about AI, of course, and what real estate agents will actually do in 2027.
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And then, of course, interest rates, right?
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Our next topic of that's gonna be interest rates, uh, and and why you need to stop waiting for interest rates to save your business.
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And then finally, is this actually one of the best markets ever to gain market share?
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So let's start with our um our first topic here.
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If you lost every lead tomorrow, how would you close your next 10 deals?
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So let's say all your leads disappear, your pipeline disappears, your CRM gets you know bought by Zillow and they take it away from you.
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Uh how you know, all you've got's your phone, your social media accounts, and a thousand bucks.
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How would you get your next 10 deals?
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We'll kick it over to you, James.
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Yeah, the next 10 deals, um, and only a thousand bucks in my pocket and no CRM.
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Um assuming that I can't uh you know find that CRM data somehow.
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Um I do open houses for sure.
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And I would get Red X Vortex or something similar in Circle Prospect, um and connect with all the buyers that are coming in, connect with all the neighbors, door knock.
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Um and then um you know, assuming I still have my cell phone, uh I'd go through my cell phone contacts and I would start calling people that I know and inviting them to coffee, seeing how they're doing, um, and building the CRM back up that way.
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So open houses, calling your sphere, door knocking, and using a platform like Red X uh to make phone calls.
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Uh what about you, Carl?
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I've always been a phone call guy.
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I would reach out to every single person that I know.
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And for people that are listening, you know, I mean, if you're a newer agent, uh I know a lot of newer agents tend to think, oh, well, you know, I don't know anybody that wants to buy or sell.
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Um, you know, I I don't have a big sphere of influence.
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I mean, well, you have people that love you and care about you.
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You have friends and family, people that you went to school with, people that you've worked with that are previous jobs.
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Um you you gotta really not overthink it, you know, and not be afraid to reach out to people that you haven't talked to in a significant amount of time, you know, even if it's been years.
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Um, and one thing that I really like uh that I'm pretty sure I got this from the.
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Let me stop you there, one, because um you mentioned something, reach out to them, even if you haven't talked to them for years.
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How do you how do you do that?
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Because I know a lot of agents they're gonna throw up the excuse, well, I'm gonna feel awkward if I haven't talked to this person or nervous, and you know, how do I how do I turn that into a deal?
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So, what does that initial reach out look like uh when you're reaching out to someone that you haven't talked to in a couple years?
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Easy excuses if they're active on social media, it's like, hey, I saw your post and I was thinking about you, and I realized that I haven't talked to you in a long time.
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You know, I was thinking about you as soon as I saw the post, you know, or you know, find a reason to compliment or congratulate, right?
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Um anything that if they're not on social, then you know, if you had any memories with that person, you know, uh my go-to is always, hey, I was thinking about you.
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Or do you remember that one time, you know, and then talk about that one memory that you have with them.
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Um, James told me uh a while back, like, you know, the the the key to getting them to ask you and get the conversation going about real estate is to ask them how work is going.
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And then most of the time people are just going to reciprocate and say, oh, well, you know, how's work going for you?
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And then that that just gives you the opportunity to tell them what you're doing.
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And then that's where real estate can naturally come up in a conversation instead of it being awkward or forced and unnatural.
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Yeah, so so you're going back to that basic acronym.
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We've all heard it, Ford, right?
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Family occupation, recreation, dreams, ask them questions, uh, and then eventually it'll come back to you and and you can work it in.
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Uh the one the one thing I guess I'll I'll caution on some of these calls or when people are calling their database, I think people have the tendency to like talk too much, right?
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And and drag it out.
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And you know, you have to remember when you're when you're calling them, you're you're disruptive, right?
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Like they were doing something else, you call them, and if and I think a lot of people are just uncomfortable to like eventually ask for the referral, so they just keep talking longer, longer, longer, longer, and then the person's trying to get off the phone and then they rush, they either rush to ask or they don't um do it at all.
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And now you've trained that person, you basically train them that like, hey, when Carl's calling me, he's gonna like talk to me for 20 minutes, and so the next time he calls, I'm I'm less likely even if it's subconsciously, I'm less likely to pick it up.
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So, you know, I think you gotta like respect their time as well, and and you know, try to try to do what Carl said, right?
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Like ask about their family or their job.
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Uh you'll probably not make it through all four of those things on the Ford, right?
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Like maybe pick one or two.
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Um and and get to the referral part.
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Uh, I've even heard some scripts where people people ask for it up front.
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You know, they're just direct up front, like, hey Carl, um you know it's been a while since we chatted.
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I saw your your post.
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Uh, you know, it looks like you guys had an awesome family vacation, you know, last week or whatever.
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Um so that that made me think of you.
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Um I definitely want to catch up with you.
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Before I do that, you know, this this is also a business call for me, right?
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And then ask for referral, and then then you know, that's that's one strategy people do to like just help get that up front.
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And then you probably don't feel uh pressured to like draw the conversation out so long to like look for your perfect opening, you know, to to to talk about your business.
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So um yeah, just make sure you're you're not making those conversations too long, or or you could be training them to not pick up the phone anymore.
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What what else though, Cogs?
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I kind of jumped in there to make that point.
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So what what else would you do?
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Yeah, I mean, I would also try to create relationships with other people that are going to be in front of potential people that want or need to transact, right?
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So call it a divorce attorney, a state planner, a state liquidator.
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Um, you know, I know James is doing that stuff.
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Um, I mean, even like going, you know, thinking about any like people that you know that are in other types of sales, like car sales.
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I mean, some of the best referral partners that I've had over the years, other than real estate agents, have been car salesmen.
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You know, I mean, it's tough to sell a salesman, right?
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But if you can get them, you know, and and give them good service, they're gonna refer you very strongly because they're going to be interacting with a lot of people that are also going to want to buy a house.
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So, I mean, I would just I mean, why chase after individual leads um if you can get good referral sources that are gonna produce multiple leads for you?
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Um, but I mean, I guess it depends on was the question like if you had to close 10 deals right away, or how am I getting just where the next 10 deals are?
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We didn't we didn't give a timeline.
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Yeah.
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If there's no timeline on it, then I'm going after like people that are going to be referral sources for multiple potential buyers and sellers.
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Um, I think it's just a more effective use of your time and how you figure out who you want to target.
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You know, I tell my loan officers this all the time.
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You got to think about who your perfect client is.
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Who do you want and like to work with?
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And then think, okay, now that you've figured out that person, who does that person interact with regularly, right?
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What is a common professional that is going to interact with that potential buyer, or what are other needs for that potential buyer or seller?
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And then that's where you need to create the relationship to be able to get a referral source to get more of those types of clients.
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Yeah, so referral sources that will give you multiple referrals.
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Love that.
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Uh, you guys covered a lot of things that I would have I would have said, uh I'm I'm definitely gonna do Red X and uh really focus on the expireds.
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And then um, you know, I did a podcast the other day with an agent who built a good business on expireds without calling though.
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She she would um she would actually drop off packets, so door knock and drop off like packets like you know, hey, here's here's like I don't know, 25 ways to sell your home when it didn't sell the first time, and and just really being of service.
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Uh and she would do that with FISBOs as well.
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So um, you know, you can definitely add FISBOs, right, to that to that um category of people to to reach out to.
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And you know, if you're if you don't want to do it on the phone, well then you're gonna have to, you know, use that thousand dollars to buy a couple good pairs of shoes, right?
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And and do it do some door knocking.
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Um try to provide value.
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I agree with the referral sources and and your database, like like you and uh James both said.
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The the one thing I'd add, because we did say you you have your social media accounts, right?
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Um make a post at least once a day on Instagram and Facebook.
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Um you don't have to spend your life on it, right?
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And I certainly I certainly don't think that um that should be your number one focus, right?
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You need to be picking up the phone and doing the the phone calls, like like both of you said, but you know, one post a day, and you can even like map out like you know, okay, Monday I'm gonna post about um you know something about that buyers need to do.
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Uh Tuesday will be move up buyer day, Wednesday, you know, I'll post about my open houses.
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Thursday I'll post like a deal of the week, right?
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Friday I'll post some industry news, and then just be consistent with it and you know, spend you don't have to spend more than like 10 to 15 minutes a day on it, right?
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So it's it's not it's not replacing the phone calling.
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And I think a lot of agents, you know, make it the number one priority, spend tons of time quote unquote on social media, but they're really doom scrolling.
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Um and they use that as the excuse to not do the real work, which is picking up the phone.
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But you know, I'm not saying not to do the social media, just like be strategic about it, right?
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And um it's like you gotta get in and out, right?
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Like get on there, post your post your theme of the day and and and get out.
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Um and and and it's it's a long game too, right?
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It's gonna it's gonna take a long time.
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Uh, and then the other thing I'll add is um, you know, I'm gonna start building a build up a database again, right?
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So as you're making these phone calls, as you're calling the expired, your database, um, referral sources, social media, right?
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Collect emails, come up with a weekly newsletter.
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I know James, you do a great weekly newsletter.
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Um, and be consistent, send that email like you know, the same time every every week if you can.
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Um anything else, guys, or you think you think that you think that will this is this is more of a longer term sphere of influence play, but uh I've started and really like handwritten note cards.
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Uh as the industry is turning everything digital AI, you know, and that's that's like the Zig.
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If you zag and do something that's you know you could do in the 1850s, um that's gonna stand out.
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And so I've started doing that.
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1850s, Pony Express.
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Uh we're yeah.
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Uh I love that too, you know.
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Um Zig, if they're Zagging, handwritten note cards definitely will make you stand out.
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And you can do that with the database, you can do it with expireds.
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Um, you know, because it the expireds is interesting, right?
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Because like obviously on Red X, you can call a hundred of them in an hour.
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Um if you get when you know when you get live answers, you may be the first person that they talk to, but you all you also might be the 20th, right?
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Uh you show up at their door, you leave them a hand written note card, you might be one of one on that type of contact, right?
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So that is memorable and will stand out.
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Uh so I love that.
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All right, let's let's uh move on to our next topic here.
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Um AI agents are coming, and when I say agents, I don't mean real estate agents, I mean I mean agents that are you know that are working for you.
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Like an AI system, you know, some people call it agents, some people call it agentics, but an AI system is working for you.
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I think when AI first uh came on the scene for real estate agents, most people were using it to help with content, right?
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They were using it to help with the editing process, captions, scheduling, posting.
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It's it's certainly moving beyond that, right?
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It's it's building systems now that can actually uh perform work for you, can monitor your emails, can write contracts, can take care of a lot of admin, you know, can even respond to leads, or even in some cases do outbound calls, have conversations.
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Um, we've seen Zillow, right?
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Zillow has built out conversational AI tools uh that work with buyers.
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So it's it's doing more and more.
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Right?
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So let's let's fast forward a year from now, 2027.
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What will the real estate agent's job actually be and what will AI systems do for the agent?
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And is it gonna be possible for a one-person show to replicate what a team of five to ten agents and admin, you know, used to be able to do, right?
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What uh where do you think it's heading, James?
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Yeah, so um this the smartest people that I know and the the ideas that resonate the most with me, um Tim and Julie Harris.
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I like their idea that um basically trust.
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You can't trust an AI agent, there's no like relationship, there's no stakes.
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Um and I think that that's true.
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Uh AI is gonna disintermediate and make things happen faster and facilitate, but at the end of the day, they need to have a conversation with a human uh and they because they can trust a human because it's the most similar to what they are, um and then stakes, you know, someone to either succeed or screw it up and to be held accountable for it, and you know, if someone loses a million dollars or a hundred thousand dollars or whatever because some AI chatbot where there's a huge disclaimer helps them in a bad way, you know, you can't you can't be angry at that chatbot, um that AI chatbot or agent, uh, but you can hold a real estate agent accountable.
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So someone that you can trust and where there are real stakes and you can actually build a relationship with.
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And there's also like the it's gonna be more enjoyable dealing with a human because you have that human interaction, we're built that way.
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So, yes, you can build uh a business that in the past took five agents um and you can do it with fewer.
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And frankly, I I can't remember who it was, but um they audited at the suggestion of someone else how many phone calls their their team was making, like per day, and it was like 1.27 calls per day, and they were devastated as a team leader.
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Um and with AI it's getting really good at making those calls, and those calls aren't about building trust, those calls are about discovering and setting an appointment.
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Yeah, so I think I think that stat was um it was a team leader we both know in our market, and um you know he had a conversation with John Chaplack, and the audit was audit your calls, you know, and figure out your average the average um number of two-minute conversations your agents were having per day.
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And if it's less than five, you've got a problem.
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I think it was like one point seven or something.
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It was less than two.
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So and the reason for that metric, right, is if it's less than two minutes, that means you got shut down on the first objective and you never got to that person's potential timing and motivation.
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Right.
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So if you if you get beyond that, you have you have enough data, you you have enough um information about why and when they might need to buy and sell.
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If you're if you're under two minutes, you know, you basically got one objection or maybe two and and you know got off the phone.
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So it's it's those two-minute conversations, and if yeah, if AI can can help do that and get you more appointments, then you know, obviously like it's going to be able to replace multiple human beings.
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Um Carl, what what are your uh thoughts on this question of what AI will be doing for real estate agents in 2027 and what the most valuable skills will be for agents to have, you know, as AI continues to do more and more.
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Well, when you first brought up the topic, I think you asked, what what's an agent's job going to be a year from now, 2027?
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And the job's not changing.
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The the core function is to be a relationship builder.
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Right?
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Um Yeah, and build trust with folks and be a trusted resource to be able to provide them the real information and and coach them and guide them down the right path.
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Um yeah, I was in a a mastermind yesterday here with some of the top-producing loan officers in the country, and we had a similar conversation about you know, well, what's what's AI going to do to the business in the next three to five years?
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And you know, the younger generation came up, you know, talking about Gen Z and I guess, you know, student Gen Alpha, you know, how their behavior is with utilizing AI.
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And when we've been working with Gen Z clients, like the overall consensus of the group was that essentially like they they use the tools and they get all the questions, but they still don't understand the concepts, right?
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So same thing as a real estate professional, you have to be able to really deliver big value on helping them understand the concepts.
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And you know, for for you guys as a as an agent, it's like really I think it's based on like you know pricing strategy on the listing side.
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You know, what what is the data telling you?
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What's going to put you in the most advantageous position to be able to have the most leverage and ultimately make the most money, right?
00:21:11.920 --> 00:21:20.400
Um and then you know, on the buy side, like you know, what is the information to be able to make an educated offer, you know, for the right price, have a winning offer, right?
00:21:20.559 --> 00:21:32.880
All that stuff, like they can put if they if they're really good at prompting, which you know the younger generation is, they're gonna get good feedback from AI, but are they gonna understand the concepts?
00:21:33.279 --> 00:21:45.920
And you know, even if they do, but it's gonna spit out so much information, like they they really need it in a condensed way, and they need validation on that information.
00:21:46.400 --> 00:21:51.680
So I I think the the smartest people in the business are going to prosper.
00:21:51.839 --> 00:21:57.599
I think we need to be very educated, but you don't need to spend much a lot of time planning.
00:21:57.680 --> 00:22:10.799
Like my I had a like my second boss in Mortgage business, he always said, like, hey, you know, I've met I've met really good people in the business that they never sold anything because they spent all their time planning and they didn't spend any time taking action.
00:22:10.960 --> 00:22:23.200
You know, so you got to have a good balance of that, you know, 10% planning, educating, and 90% taking action because you know, otherwise you're just not gonna move people through the process and you're not going to make any sales.
00:22:23.519 --> 00:22:34.880
Um, but yeah, I guess also to close, I mean, it's just gonna save so much time, it's gonna condense how many people you need to have to do a lot of transactions.
00:22:35.119 --> 00:22:39.279
And I'll pose this question back to you guys.
00:22:39.519 --> 00:22:43.200
What do you think that's gonna do from a market compression standpoint?
00:22:43.359 --> 00:22:48.160
Because that was the conversation that we were having in the loan officer mastermind.
00:22:48.319 --> 00:23:03.680
Is like, you know, with if we're gonna be able to eliminate, let's just say, eliminate processors and just have underwriters process the loans because of AI, like the, you know, there's gonna be some market compression where we're gonna make less money per deal.
00:23:03.920 --> 00:23:07.359
You know, that's gonna mean better rates for the consumer, you know.
00:23:07.519 --> 00:23:11.680
Um, but we're gonna have to probably do twice as much business to make the same amount of money.
00:23:11.920 --> 00:23:21.839
Is it gonna, is that going to translate on the realtor side where, you know, there's gonna be more agents that are willing to work for less money because it's costing them less to run their business?
00:23:22.000 --> 00:23:24.640
I'm I'm curious as you what your thoughts are on that.
00:23:25.359 --> 00:23:29.359
Yeah, that is a really interesting question.
00:23:29.599 --> 00:23:42.880
You know, I would I would assume on the loan officer side, like, you know, if if you have to pay your processor less, or one processor can do like five times the amount of work, right?
00:23:42.960 --> 00:23:49.200
So now you have less processors, you know, you're saving there, right?
00:23:50.079 --> 00:23:55.440
And maybe some of that savings gets passed on to the consumer in the form of a lower rate.
00:23:56.000 --> 00:24:04.240
I don't necessarily know if that will shrink what the LO makes, though, because you you still need you still need the LO.
00:24:04.720 --> 00:24:05.119
Right?
00:24:05.279 --> 00:24:21.920
So there's like that part of it, and then you know, thinking on the real estate side of it, um, you know, I don't I don't know if that will cause compression on what the agents actually make.
00:24:22.400 --> 00:24:30.400
Um you you you know, you're either spending less time or less money as an agent because of AI, right?
00:24:30.880 --> 00:24:41.920
Um you're either d doing less of the admin and back-end work or um or you're not paying someone who was doing that for you.
00:24:42.559 --> 00:24:49.839
Um so maybe maybe you'll see some compression on that, right?
00:24:50.000 --> 00:25:06.000
Or maybe it becomes like more of a like maybe actually interacting and talking with a human being that you can quickly build the speed of you know trust with, um maybe that creates like more value for the agent.
00:25:06.720 --> 00:25:22.000
Um I think what probably moves the needle more than an agent's cost structure or their deal flow is how many other real estate agents are out there that can compete with you.
00:25:22.160 --> 00:25:35.119
And so the framework I'm thinking about it in is um does it reduce the barriers to entry uh and does it reduce the barriers to become a really good agent?
00:25:35.759 --> 00:25:42.799
And I don't know the answer to that, because to be a really good agent, first you've got to you know do a small number of transactions well.
00:25:43.279 --> 00:25:45.279
Um and you still have to be a good agent.
00:25:45.440 --> 00:26:11.519
Doesn't matter if you've got conversations with uh you know ten times or twenty times as many people, if you're not able to convert those, if you meet with them and they're like this guy is weird, or I don't trust them, or they don't have experience, um you know, that's not that's not gonna increase the supply of quality real estate agents.
00:26:12.319 --> 00:26:12.799
Yeah.
00:26:12.960 --> 00:26:17.279
I mean it it kind of feeds into like our our next or one of our other topics, right?
00:26:17.359 --> 00:26:21.200
Is this a great market or the best market to gain market share?
00:26:21.440 --> 00:26:22.079
Um, right?
00:26:22.160 --> 00:26:27.119
Because we went from six million deals a year to four million um in a very fast time.
00:26:27.920 --> 00:26:40.799
And you know, we're there's less agents in the business, and you know, the people that used to be do zero, one, two, three, four, maybe five deals a year, like they have less time to focus on it, right?
00:26:41.519 --> 00:27:06.640
Um because they have to go get other jobs or or get out or do something else, and now there's less agents, and now the agents, you know, that are doing 50 deals or 100 deals or 20 deals, like maybe they're doing 25 or 55 or 110 because those those agents, you know, those couple hundred thousand agents that were doing like one or two or three deals a year, like those deals have to go to somewhere else.
00:27:06.880 --> 00:27:13.359
And you know, I would think with fewer agents the commission would be more protected.
00:27:13.599 --> 00:27:22.480
Um and we've certainly seen that, you know, we've had a lot go on in our you know, it's just it's not just the affordability and the rates and and prices, right?
00:27:22.559 --> 00:27:29.519
We've also had these commission lawsuits and the new buyer agent rules, right?
00:27:29.599 --> 00:27:32.559
And and so that's that's on there.
00:27:32.720 --> 00:27:37.200
We we do know that in the last two years, average commissions have gone up.
00:27:38.240 --> 00:27:41.599
Um is that because of the lawsuits?
00:27:41.759 --> 00:27:44.240
Is that because of less agents?
00:27:45.279 --> 00:27:45.680
Right?
00:27:45.759 --> 00:27:51.920
I I don't know, but I I think um so I think I think you could argue it either way.
00:27:52.480 --> 00:28:03.599
You know, I think the important thing though is like be the agent that's able to use AI that reduces your non-income producing activities, right?
00:28:03.680 --> 00:28:09.599
That gives you more time to spend on your high dollar activities, right?
00:28:09.759 --> 00:28:15.200
Which is like prospecting, building that trust, building that emotional connection, right?
00:28:15.279 --> 00:28:26.000
So if if AI is making all the stuff you do in the background quicker and better, now you have more time to connect with more people, build more relationships.
00:28:26.160 --> 00:28:30.480
So I think I think if you use AI properly, it could be a huge benefit, you know.
00:28:30.720 --> 00:28:37.680
Um on our team, you know, Carrie's done an amazing job building out some AI systems.
00:28:37.759 --> 00:28:39.359
Um, I'm not gonna it does a lot, right?
00:28:39.440 --> 00:28:51.440
It can manage email, it can it can talk to prospects, um, it can follow up with agents on the team after their appointments to you know make sure they put their notes in the CRM and and followed up.
00:28:51.519 --> 00:28:52.400
Like it does a ton.
00:28:52.480 --> 00:28:56.240
I'll I'll give like one example of specifically how it helped her with a builder.
00:28:56.319 --> 00:29:03.279
You know, she had a meeting with a builder that was looking to um pick certain neighborhoods in a city to focus on.
00:29:03.519 --> 00:29:06.559
And I think in the city there were like a hundred different neighborhoods, right?
00:29:06.640 --> 00:29:08.880
Or subdivisions or areas.
00:29:09.440 --> 00:29:21.519
And it would take a human being a lot of time to analyze like the average you know price that a home high-end home sells in each of those neighborhoods, the average acquisition cost, average days of market.
00:29:21.599 --> 00:29:23.279
Like there's there's a lot of data to go through.
00:29:23.440 --> 00:29:40.880
And uh, you know, Carrie's AI agent in like less than 15 minutes, summarized it all, uh, picked like the top 10 areas that the builder should focus on, and um, you know, so she could have that long meeting with the builder, right?
00:29:41.359 --> 00:29:49.119
Get the data that the builder needed, and then get it back like really, really fast.
00:29:49.279 --> 00:29:55.279
So now that's gonna allow her to have more of those meetings, spend more time on higher dollar things.
00:29:55.440 --> 00:29:58.000
So I think, you know, that's just a couple examples there.
00:29:58.079 --> 00:30:10.319
But I think in 2027, agents, yes, agents will have the ability, you know, as a as a one-person show to to do what five or maybe even ten agents and and team members and staff could do.
00:30:10.559 --> 00:30:21.839
Um and you need to figure out how do I use these tools to spend more time doing the real work at real estate, like picking up the phone, making the calls, making the connection, building relationships.
00:30:22.000 --> 00:30:39.759
So that's where I think you know, agents need to go with it is it's it's not going to replace everything you do, but if you do it properly, it will replace the things that are less important than the connections and the relationships.
00:30:40.000 --> 00:30:46.799
And you know, it it could be a huge advantage, right, for for agents that that take advantage of it.
00:30:47.119 --> 00:30:50.240
So and and Carl, you brought up a great point.
00:30:50.319 --> 00:30:54.319
Like, don't spend like 80% of your time on it, right?
00:30:54.400 --> 00:31:03.440
Spend 80, 90% of your time on building relationships and 10% of like building and learning the AI systems that will help give you more time.
00:31:03.680 --> 00:31:08.240
Uh AI systems are, in my opinion, just an evolution of systems, right?
00:31:08.559 --> 00:31:17.279
And so, like in 2021, when uh the market was going crazy, agents could build systems, right?
00:31:17.359 --> 00:31:25.119
They could hire uh transaction coordinators either here locally and team members here locally, or virtual assistants.
00:31:25.519 --> 00:31:29.440
Um and AI agents are just an evolution of that.
00:31:29.599 --> 00:31:39.759
Um I think we're in a period where we're we're still trying to get the quality and cost to be better than that last iteration.
00:31:40.160 --> 00:31:47.519
Um but so uh you know in this market is it easier to gain market share?
00:31:47.759 --> 00:31:52.240
I think it's all about whether people are building those systems or not.
00:31:52.640 --> 00:31:55.680
And the people that are building systems are definitely gonna gain market share.
00:31:55.839 --> 00:32:01.599
But that's I don't think that's really all that different from uh from before.
00:32:02.160 --> 00:32:12.079
So it sounds like the most important job of agents is is gonna be the emotional connection and building trust with people, which is what it is now, right?
00:32:12.160 --> 00:32:16.400
You're just gonna have more time to do it if you build the right systems.
00:32:16.720 --> 00:32:21.839
Um and in the past you could build those systems with a lot of people, now you can build them with less people.
00:32:22.079 --> 00:32:25.920
Uh we've got time for one more of our topics here.
00:32:26.000 --> 00:32:28.000
We're not gonna get to all four today.
00:32:28.240 --> 00:32:37.680
Uh all right, so is and and we we we teased it a little bit when we were just talking about AI, like, is this actually the best market in years to gain market share?
00:32:37.759 --> 00:32:41.680
And I think, again, I mentioned we went from six million to four million, right?
00:32:42.000 --> 00:32:45.200
Um, you know, let's just use a more exaggerated example.
00:32:45.279 --> 00:32:55.440
In your local market, if there were a thousand home sales and now there's five hundred and you sold 20 homes last year, you know, I think I think there's gonna be two types of agents and how they respond to that, right?
00:32:55.519 --> 00:33:04.079
One person's gonna use it as an excuse or just be comfortable with what well, the market shrunk by 50, so I guess I'm going from 28 deals to 10 deals, right?
00:33:04.319 --> 00:33:08.240
Um hopefully if you're listening to this podcast, that's not the type of agent you want to be.
00:33:08.319 --> 00:33:10.319
Hopefully you'll be the other type, right?
00:33:10.480 --> 00:33:13.519
Which is all right, the mark market shrunk 50%.
00:33:14.160 --> 00:33:18.160
I'm gonna have to put in more work to do 20 deals, right?
00:33:18.319 --> 00:33:19.759
Instead of going down to 10.
00:33:20.640 --> 00:33:34.480
And if you're able to do 20 deals when the market's shrunk by 50% uh because you put in more work, well, you know, some people might look at that and say, like, yeah, I did the same amount of deals as last year.
00:33:34.640 --> 00:33:38.480
Well, you actually doubled your market share, right?
00:33:39.200 --> 00:33:50.000
You you you you kept your income for you and your family the same uh but put yourself in a position to just explode when the market goes back up, right?
00:33:50.079 --> 00:33:53.519
When they're when we go because of real estate's cyclical, cyclical.
00:33:53.759 --> 00:33:58.319
Um so instead of going from you know 20 to 10, right?
00:33:58.400 --> 00:34:02.720
You stay at those 20 deals, well, when the market comes back up, guess what?
00:34:03.440 --> 00:34:05.519
You're not gonna be doing 20 deals anymore, right?
00:34:05.599 --> 00:34:07.839
You're gonna be at 40 or or or more.
00:34:08.559 --> 00:34:21.599
Um so my take on it is, and I don't I don't know if you guys agree or disagree, I have different thoughts, but I think this is a great opportunity for agents that want to work harder, uh, even if it means their income's the same now, right?
00:34:21.679 --> 00:34:23.440
But they're gonna gain more market share.
00:34:24.000 --> 00:34:26.559
I think there's so much more opportunity right now, Dan.
00:34:26.800 --> 00:34:41.360
I mean, because when like if we go back to 2020 and 2021, you know, you look at listings, it you know, anybody could sell a house, not much marketing was needed, which means the listing fallout rate was really low.
00:34:41.679 --> 00:34:47.760
And then, you know, for buyers, I mean, there were like, you know, in our market, there were like 50, 60 offers on a single house.
00:34:47.920 --> 00:34:52.239
You're gonna have to make probably a dozen offers to ratify a contract for a buyer.
00:34:52.400 --> 00:34:56.480
You know, so look at today, listing fallout's way higher.
00:34:56.639 --> 00:35:01.440
You know, there's way more listings that you can grab that you know somebody failed to sell.
00:35:01.840 --> 00:35:08.559
And, you know, for buyers, it's much easier to get them under contract on the first or second house because you have less competition.
00:35:08.719 --> 00:35:12.400
It's easier to negotiate seller-paid closing costs for first timers.
00:35:12.639 --> 00:35:18.800
So more potential people can actually buy on the buyer side because of that, right?
00:35:18.880 --> 00:35:20.800
If they have limited money as first timers.
00:35:20.960 --> 00:35:27.599
I mean, obviously, affordability is down as far as rates go, but like from a cash standpoint, you know, that stuff can be more negotiable.
00:35:27.840 --> 00:35:41.599
And then like, you know, from a listing standpoint, like if you're if you are really good at negotiating with your own client and setting good expectations, you're gonna have a much higher close rate than other other agents are.
00:35:41.840 --> 00:35:54.320
Like, I I've talked to a bunch of real estate real estate friends about how like everybody is for the most part, like the conception is you know being focused on negotiating with the person on the other side of the table.
00:35:54.480 --> 00:36:06.320
You know, if you're the listing agent, negotiating with the buyer's agent, when in reality the the negotiation really starts with your own client and not being an order taker and just listing the home for whatever the client thinks the home is worth.
00:36:06.559 --> 00:36:14.800
If you can bring the data and educate and negotiate with your client, hey, like, you know, this is where we really should be based on what you told me.
00:36:14.880 --> 00:36:23.039
You know, if you want to sell your house fast, this is the sell my house fast price, you know, then you're gonna be able to close at a much higher rate than other agents.
00:36:23.199 --> 00:36:25.599
I just think there's so much more opportunity right now.
00:36:25.760 --> 00:36:27.519
And I really like what you said.
00:36:27.760 --> 00:36:32.880
I mean, are you gonna let the market beat you down or are you gonna come out stronger on the other side of this?
00:36:33.519 --> 00:36:34.079
All right, James.
00:36:34.239 --> 00:36:35.840
You guys are athletes, James.
00:36:36.159 --> 00:36:40.559
Yeah, you guys are athletes, and I'm sure a lot of people listening probably are too.
00:36:40.719 --> 00:36:45.760
Um, I think the mantra of you get better in the off-season holds true here.
00:36:45.840 --> 00:36:49.360
Um, you know, whether you're playing lacrosse or football or soccer or whatever.
00:36:49.519 --> 00:36:52.400
Um right now we're in the off-season, and now's the time.
00:36:52.559 --> 00:37:06.320
Keep scrimmaging, keep lifting weights, uh, keep working on your fundamentals and building those in the real estate world and uh lending world, building those systems so that you're creating capacity.
00:37:06.960 --> 00:37:10.239
And when the market comes back, you've got these systems and this capacity.
00:37:10.400 --> 00:37:12.159
That's what's gonna double your business.
00:37:12.239 --> 00:37:22.719
Uh and if you're if you're building those things now, I think you're gonna keep your business at the same level as it was before, maybe increase it a little bit, but you're gonna have this enormous upside.
00:37:22.960 --> 00:37:30.880
And the people that aren't that don't have those systems and that aren't being consistent, they're not just getting like the overflow uh business.
00:37:31.039 --> 00:37:36.639
You know, maybe they're doing like I don't think it's half their business, I think it's like 10 or 20 percent.
00:37:36.880 --> 00:37:48.159
Um, and then the the people that are building those systems and that are still treating it like a business are either maintaining or incrementally increasing in this market.
00:37:49.039 --> 00:37:50.960
All right, I love that analogy, James.
00:37:51.039 --> 00:37:57.760
Uh unfortunately, we don't have time to get to our last topic uh about why you need to stop waiting for rates to save your business.
00:37:57.840 --> 00:37:59.840
So we'll kick that one over to the next show.
00:38:00.000 --> 00:38:03.599
I'm super excited about that topic, though, because I'll give a little teaser.
00:38:03.679 --> 00:38:20.079
I think there is an amazing opportunity for real estate agents to use creative financing, seller financing, assumable loans, subject twos to create more value for buyers and sellers at the same time so that you know sellers aren't just selling their home and walking away from low rates, right?
00:38:20.159 --> 00:38:27.519
They're gonna get more value if you learn some of these techniques we'll talk about in the next show, and the buyers will get more value too.
00:38:27.679 --> 00:38:29.519
So thank you for tuning in, guys.
00:38:29.599 --> 00:38:35.119
If you've if you've listened this far, I definitely think it means we have earned a five-star review.
00:38:35.280 --> 00:38:40.400
So please, if you're listening on Apple, tap the five stars, leave us a comment.
00:38:40.480 --> 00:38:44.159
Um, maybe we'll read it on the next show too, and give you a shout-out.
00:38:44.320 --> 00:38:49.360
So um, and if you're on YouTube, of course, subscribe, leave some comments or or Spotify.
00:38:49.440 --> 00:38:51.519
You know, we've got some listeners over there too.
00:38:51.760 --> 00:39:07.599
Um, and and I I just have to mention, guys, if if you if you like the show, like our vibe uh and want to partner with us at exp Realty, you can contact anybody on the episode, anybody on the show, even Nick, even though he wasn't here today.
00:39:07.840 --> 00:39:10.639
Um, and we would love to have the conversation.
00:39:10.800 --> 00:39:20.320
We'd be honored with you to have the conversation to share with you the value, the benefits that we give you when you partner with us at exp Realty, right?
00:39:20.400 --> 00:39:29.920
It's not just about the low caps, um, the amazing training and technology or the stock awards and revenue share, which can be life-changing, right?
00:39:30.000 --> 00:39:34.719
That's part of the reason I was able to take two months uh in the summer on an RV trip is because of revenue share.
00:39:34.800 --> 00:39:38.719
But um, you know, we're also gonna truly become your partners.
00:39:38.960 --> 00:39:46.800
We provide$40,000 to$50,000 of value of coaching and training and mentoring um and masterminds and events, right?
00:39:47.039 --> 00:39:50.400
That you get when you pick one of us as your sponsors at EXP Realty.
00:39:50.480 --> 00:39:54.159
And you know, all you gotta do is text us, leave a comment.
00:39:54.400 --> 00:39:58.000
Um, you know, there's there's links all over where we post these things.
00:39:58.079 --> 00:40:02.800
So we would love to have that conversation with you and make sure you tune in next week.
00:40:02.960 --> 00:40:04.079
We'll see you guys later.
00:40:04.400 --> 00:40:08.800
You've been listening to I professated growth over Harry Stolen Dad Lesniak.
00:40:09.039 --> 00:40:11.840
Real strategies, real results, real estate done differently.
00:40:12.000 --> 00:40:17.119
If you love it, subscribe and check with another who's ready to go.
00:00:00.160 --> 00:00:02.640
Welcome to the Hyper Fast Agent Growth Show.
00:00:02.959 --> 00:00:06.240
Get real strategies, real results, and real estate them differently.
00:00:06.480 --> 00:00:15.759
Lead generation, team building, AI, and more for billion dollar agents, best selling authors, international speakers, real estate coaches, can be done listening.
00:00:20.000 --> 00:00:24.800
Alright, welcome to this episode of the Hyper Fast Agent Growth Show.
00:00:24.960 --> 00:00:27.280
We are back today with our panel.
00:00:27.359 --> 00:00:32.640
It's been a few weeks since we've had uh one of these panel episodes, so a lot to catch up on.
00:00:32.799 --> 00:00:41.039
Uh, I've been on the RV trip to the other side of the country and back, and we made it so two months on the road.
00:00:41.280 --> 00:00:50.320
Um, so so back and ready to ready to hammer out some podcasts and and uh hopefully provide some values to all of our listeners today.
00:00:50.399 --> 00:00:54.880
We've got James Buckley and Carl Svenson joining us there.
00:00:55.039 --> 00:00:56.399
Welcome guys.
00:00:56.880 --> 00:01:02.000
Um, we've got a great lineup today, so I'll give you the overview.
00:01:02.079 --> 00:01:08.400
All right, our our our first topic we're gonna cover is what would you do if you lost every lead you had today?
00:01:08.560 --> 00:01:12.400
Your CRM disappeared, how would you get your next 10 deals?
00:01:12.640 --> 00:01:20.079
Uh, then we're gonna talk about AI, of course, and what real estate agents will actually do in 2027.
00:01:20.640 --> 00:01:22.000
And then, of course, interest rates, right?
00:01:22.079 --> 00:01:30.159
Our next topic of that's gonna be interest rates, uh, and and why you need to stop waiting for interest rates to save your business.
00:01:30.480 --> 00:01:36.400
And then finally, is this actually one of the best markets ever to gain market share?
00:01:36.560 --> 00:01:40.799
So let's start with our um our first topic here.
00:01:40.959 --> 00:01:46.079
If you lost every lead tomorrow, how would you close your next 10 deals?
00:01:46.159 --> 00:01:54.879
So let's say all your leads disappear, your pipeline disappears, your CRM gets you know bought by Zillow and they take it away from you.
00:01:55.040 --> 00:02:00.640
Uh how you know, all you've got's your phone, your social media accounts, and a thousand bucks.
00:02:00.959 --> 00:02:03.840
How would you get your next 10 deals?
00:02:04.000 --> 00:02:06.000
We'll kick it over to you, James.
00:02:06.719 --> 00:02:13.120
Yeah, the next 10 deals, um, and only a thousand bucks in my pocket and no CRM.
00:02:13.520 --> 00:02:20.240
Um assuming that I can't uh you know find that CRM data somehow.
00:02:20.400 --> 00:02:22.560
Um I do open houses for sure.
00:02:22.719 --> 00:02:33.039
And I would get Red X Vortex or something similar in Circle Prospect, um and connect with all the buyers that are coming in, connect with all the neighbors, door knock.
00:02:33.520 --> 00:02:52.960
Um and then um you know, assuming I still have my cell phone, uh I'd go through my cell phone contacts and I would start calling people that I know and inviting them to coffee, seeing how they're doing, um, and building the CRM back up that way.
00:02:53.360 --> 00:03:02.159
So open houses, calling your sphere, door knocking, and using a platform like Red X uh to make phone calls.
00:03:02.240 --> 00:03:03.919
Uh what about you, Carl?
00:03:05.039 --> 00:03:06.639
I've always been a phone call guy.
00:03:06.800 --> 00:03:09.680
I would reach out to every single person that I know.
00:03:10.080 --> 00:03:19.680
And for people that are listening, you know, I mean, if you're a newer agent, uh I know a lot of newer agents tend to think, oh, well, you know, I don't know anybody that wants to buy or sell.
00:03:19.759 --> 00:03:22.639
Um, you know, I I don't have a big sphere of influence.
00:03:22.879 --> 00:03:25.840
I mean, well, you have people that love you and care about you.
00:03:25.919 --> 00:03:31.599
You have friends and family, people that you went to school with, people that you've worked with that are previous jobs.
00:03:31.759 --> 00:03:44.639
Um you you gotta really not overthink it, you know, and not be afraid to reach out to people that you haven't talked to in a significant amount of time, you know, even if it's been years.
00:03:44.879 --> 00:03:48.719
Um, and one thing that I really like uh that I'm pretty sure I got this from the.
00:03:49.039 --> 00:03:55.360
Let me stop you there, one, because um you mentioned something, reach out to them, even if you haven't talked to them for years.
00:03:55.599 --> 00:03:56.960
How do you how do you do that?
00:03:57.039 --> 00:04:06.400
Because I know a lot of agents they're gonna throw up the excuse, well, I'm gonna feel awkward if I haven't talked to this person or nervous, and you know, how do I how do I turn that into a deal?
00:04:06.560 --> 00:04:14.080
So, what does that initial reach out look like uh when you're reaching out to someone that you haven't talked to in a couple years?
00:04:14.719 --> 00:04:22.560
Easy excuses if they're active on social media, it's like, hey, I saw your post and I was thinking about you, and I realized that I haven't talked to you in a long time.
00:04:22.720 --> 00:04:30.879
You know, I was thinking about you as soon as I saw the post, you know, or you know, find a reason to compliment or congratulate, right?
00:04:31.199 --> 00:04:41.759
Um anything that if they're not on social, then you know, if you had any memories with that person, you know, uh my go-to is always, hey, I was thinking about you.
00:04:41.920 --> 00:04:46.399
Or do you remember that one time, you know, and then talk about that one memory that you have with them.
00:04:46.560 --> 00:04:59.279
Um, James told me uh a while back, like, you know, the the the key to getting them to ask you and get the conversation going about real estate is to ask them how work is going.
00:04:59.439 --> 00:05:04.959
And then most of the time people are just going to reciprocate and say, oh, well, you know, how's work going for you?
00:05:05.040 --> 00:05:09.199
And then that that just gives you the opportunity to tell them what you're doing.
00:05:09.439 --> 00:05:17.600
And then that's where real estate can naturally come up in a conversation instead of it being awkward or forced and unnatural.
00:05:19.120 --> 00:05:21.680
Yeah, so so you're going back to that basic acronym.
00:05:21.759 --> 00:05:23.439
We've all heard it, Ford, right?
00:05:23.600 --> 00:05:32.879
Family occupation, recreation, dreams, ask them questions, uh, and then eventually it'll come back to you and and you can work it in.
00:05:32.959 --> 00:05:45.040
Uh the one the one thing I guess I'll I'll caution on some of these calls or when people are calling their database, I think people have the tendency to like talk too much, right?
00:05:45.120 --> 00:05:47.040
And and drag it out.
00:05:47.279 --> 00:05:53.360
And you know, you have to remember when you're when you're calling them, you're you're disruptive, right?
00:05:53.600 --> 00:06:10.079
Like they were doing something else, you call them, and if and I think a lot of people are just uncomfortable to like eventually ask for the referral, so they just keep talking longer, longer, longer, longer, and then the person's trying to get off the phone and then they rush, they either rush to ask or they don't um do it at all.
00:06:10.319 --> 00:06:25.279
And now you've trained that person, you basically train them that like, hey, when Carl's calling me, he's gonna like talk to me for 20 minutes, and so the next time he calls, I'm I'm less likely even if it's subconsciously, I'm less likely to pick it up.
00:06:25.439 --> 00:06:34.079
So, you know, I think you gotta like respect their time as well, and and you know, try to try to do what Carl said, right?
00:06:34.160 --> 00:06:36.879
Like ask about their family or their job.
00:06:36.959 --> 00:06:41.279
Uh you'll probably not make it through all four of those things on the Ford, right?
00:06:41.360 --> 00:06:43.040
Like maybe pick one or two.
00:06:43.839 --> 00:06:47.519
Um and and get to the referral part.
00:06:47.680 --> 00:06:52.399
Uh, I've even heard some scripts where people people ask for it up front.
00:06:52.639 --> 00:06:58.240
You know, they're just direct up front, like, hey Carl, um you know it's been a while since we chatted.
00:06:58.319 --> 00:06:59.759
I saw your your post.
00:06:59.920 --> 00:07:06.720
Uh, you know, it looks like you guys had an awesome family vacation, you know, last week or whatever.
00:07:06.959 --> 00:07:10.160
Um so that that made me think of you.
00:07:10.319 --> 00:07:12.480
Um I definitely want to catch up with you.
00:07:12.720 --> 00:07:16.959
Before I do that, you know, this this is also a business call for me, right?
00:07:17.040 --> 00:07:23.759
And then ask for referral, and then then you know, that's that's one strategy people do to like just help get that up front.
00:07:24.000 --> 00:07:35.199
And then you probably don't feel uh pressured to like draw the conversation out so long to like look for your perfect opening, you know, to to to talk about your business.
00:07:35.360 --> 00:07:45.040
So um yeah, just make sure you're you're not making those conversations too long, or or you could be training them to not pick up the phone anymore.
00:07:47.600 --> 00:07:49.199
What what else though, Cogs?
00:07:49.439 --> 00:07:50.879
I kind of jumped in there to make that point.
00:07:50.959 --> 00:07:52.160
So what what else would you do?
00:07:52.399 --> 00:08:01.360
Yeah, I mean, I would also try to create relationships with other people that are going to be in front of potential people that want or need to transact, right?
00:08:01.600 --> 00:08:06.879
So call it a divorce attorney, a state planner, a state liquidator.
00:08:06.959 --> 00:08:09.600
Um, you know, I know James is doing that stuff.
00:08:09.839 --> 00:08:18.560
Um, I mean, even like going, you know, thinking about any like people that you know that are in other types of sales, like car sales.
00:08:18.720 --> 00:08:26.399
I mean, some of the best referral partners that I've had over the years, other than real estate agents, have been car salesmen.
00:08:26.560 --> 00:08:29.680
You know, I mean, it's tough to sell a salesman, right?
00:08:29.759 --> 00:08:40.720
But if you can get them, you know, and and give them good service, they're gonna refer you very strongly because they're going to be interacting with a lot of people that are also going to want to buy a house.
00:08:40.960 --> 00:08:52.639
So, I mean, I would just I mean, why chase after individual leads um if you can get good referral sources that are gonna produce multiple leads for you?
00:08:52.799 --> 00:09:01.679
Um, but I mean, I guess it depends on was the question like if you had to close 10 deals right away, or how am I getting just where the next 10 deals are?
00:09:01.759 --> 00:09:03.039
We didn't we didn't give a timeline.
00:09:03.679 --> 00:09:03.919
Yeah.
00:09:04.159 --> 00:09:13.600
If there's no timeline on it, then I'm going after like people that are going to be referral sources for multiple potential buyers and sellers.
00:09:13.759 --> 00:09:19.840
Um, I think it's just a more effective use of your time and how you figure out who you want to target.
00:09:19.919 --> 00:09:22.080
You know, I tell my loan officers this all the time.
00:09:22.240 --> 00:09:25.120
You got to think about who your perfect client is.
00:09:25.279 --> 00:09:28.080
Who do you want and like to work with?
00:09:28.399 --> 00:09:36.799
And then think, okay, now that you've figured out that person, who does that person interact with regularly, right?
00:09:36.960 --> 00:09:44.799
What is a common professional that is going to interact with that potential buyer, or what are other needs for that potential buyer or seller?
00:09:45.039 --> 00:09:51.039
And then that's where you need to create the relationship to be able to get a referral source to get more of those types of clients.
00:09:51.360 --> 00:09:55.279
Yeah, so referral sources that will give you multiple referrals.
00:09:55.600 --> 00:09:56.240
Love that.
00:09:56.399 --> 00:10:04.960
Uh, you guys covered a lot of things that I would have I would have said, uh I'm I'm definitely gonna do Red X and uh really focus on the expireds.
00:10:05.200 --> 00:10:14.159
And then um, you know, I did a podcast the other day with an agent who built a good business on expireds without calling though.
00:10:14.480 --> 00:10:30.960
She she would um she would actually drop off packets, so door knock and drop off like packets like you know, hey, here's here's like I don't know, 25 ways to sell your home when it didn't sell the first time, and and just really being of service.
00:10:31.039 --> 00:10:33.120
Uh and she would do that with FISBOs as well.
00:10:33.600 --> 00:10:41.600
So um, you know, you can definitely add FISBOs, right, to that to that um category of people to to reach out to.
00:10:41.679 --> 00:10:49.759
And you know, if you're if you don't want to do it on the phone, well then you're gonna have to, you know, use that thousand dollars to buy a couple good pairs of shoes, right?
00:10:49.840 --> 00:10:52.000
And and do it do some door knocking.
00:10:52.159 --> 00:10:54.240
Um try to provide value.
00:10:55.440 --> 00:11:02.080
I agree with the referral sources and and your database, like like you and uh James both said.
00:11:02.240 --> 00:11:06.720
The the one thing I'd add, because we did say you you have your social media accounts, right?
00:11:07.039 --> 00:11:11.360
Um make a post at least once a day on Instagram and Facebook.
00:11:11.600 --> 00:11:14.799
Um you don't have to spend your life on it, right?
00:11:14.879 --> 00:11:20.879
And I certainly I certainly don't think that um that should be your number one focus, right?
00:11:20.960 --> 00:11:38.320
You need to be picking up the phone and doing the the phone calls, like like both of you said, but you know, one post a day, and you can even like map out like you know, okay, Monday I'm gonna post about um you know something about that buyers need to do.
00:11:38.480 --> 00:11:43.840
Uh Tuesday will be move up buyer day, Wednesday, you know, I'll post about my open houses.
00:11:44.000 --> 00:11:46.159
Thursday I'll post like a deal of the week, right?
00:11:46.320 --> 00:11:55.279
Friday I'll post some industry news, and then just be consistent with it and you know, spend you don't have to spend more than like 10 to 15 minutes a day on it, right?
00:11:55.519 --> 00:11:59.200
So it's it's not it's not replacing the phone calling.
00:11:59.279 --> 00:12:07.200
And I think a lot of agents, you know, make it the number one priority, spend tons of time quote unquote on social media, but they're really doom scrolling.
00:12:07.679 --> 00:12:14.480
Um and they use that as the excuse to not do the real work, which is picking up the phone.
00:12:14.720 --> 00:12:19.360
But you know, I'm not saying not to do the social media, just like be strategic about it, right?
00:12:19.440 --> 00:12:22.159
And um it's like you gotta get in and out, right?
00:12:22.320 --> 00:12:27.200
Like get on there, post your post your theme of the day and and and get out.
00:12:27.519 --> 00:12:30.960
Um and and and it's it's a long game too, right?
00:12:31.039 --> 00:12:32.720
It's gonna it's gonna take a long time.
00:12:32.879 --> 00:12:40.159
Uh, and then the other thing I'll add is um, you know, I'm gonna start building a build up a database again, right?
00:12:40.240 --> 00:12:49.039
So as you're making these phone calls, as you're calling the expired, your database, um, referral sources, social media, right?
00:12:49.440 --> 00:12:52.320
Collect emails, come up with a weekly newsletter.
00:12:52.399 --> 00:12:54.879
I know James, you do a great weekly newsletter.
00:12:55.120 --> 00:13:02.399
Um, and be consistent, send that email like you know, the same time every every week if you can.
00:13:02.639 --> 00:13:14.799
Um anything else, guys, or you think you think that you think that will this is this is more of a longer term sphere of influence play, but uh I've started and really like handwritten note cards.
00:13:14.960 --> 00:13:21.759
Uh as the industry is turning everything digital AI, you know, and that's that's like the Zig.
00:13:22.240 --> 00:13:28.799
If you zag and do something that's you know you could do in the 1850s, um that's gonna stand out.
00:13:28.879 --> 00:13:30.399
And so I've started doing that.
00:13:30.799 --> 00:13:32.720
1850s, Pony Express.
00:13:32.799 --> 00:13:34.240
Uh we're yeah.
00:13:34.480 --> 00:13:36.399
Uh I love that too, you know.
00:13:36.480 --> 00:13:42.559
Um Zig, if they're Zagging, handwritten note cards definitely will make you stand out.
00:13:42.639 --> 00:13:46.000
And you can do that with the database, you can do it with expireds.
00:13:46.080 --> 00:13:50.080
Um, you know, because it the expireds is interesting, right?
00:13:50.159 --> 00:13:54.159
Because like obviously on Red X, you can call a hundred of them in an hour.
00:13:54.399 --> 00:14:03.360
Um if you get when you know when you get live answers, you may be the first person that they talk to, but you all you also might be the 20th, right?
00:14:03.600 --> 00:14:11.840
Uh you show up at their door, you leave them a hand written note card, you might be one of one on that type of contact, right?
00:14:12.000 --> 00:14:14.320
So that is memorable and will stand out.
00:14:14.480 --> 00:14:15.679
Uh so I love that.
00:14:15.840 --> 00:14:19.200
All right, let's let's uh move on to our next topic here.
00:14:19.600 --> 00:14:29.440
Um AI agents are coming, and when I say agents, I don't mean real estate agents, I mean I mean agents that are you know that are working for you.
00:14:29.600 --> 00:14:36.720
Like an AI system, you know, some people call it agents, some people call it agentics, but an AI system is working for you.
00:14:36.879 --> 00:14:44.159
I think when AI first uh came on the scene for real estate agents, most people were using it to help with content, right?
00:14:44.240 --> 00:14:49.600
They were using it to help with the editing process, captions, scheduling, posting.
00:14:49.759 --> 00:14:52.480
It's it's certainly moving beyond that, right?
00:14:52.559 --> 00:15:10.000
It's it's building systems now that can actually uh perform work for you, can monitor your emails, can write contracts, can take care of a lot of admin, you know, can even respond to leads, or even in some cases do outbound calls, have conversations.
00:15:10.320 --> 00:15:12.960
Um, we've seen Zillow, right?
00:15:13.039 --> 00:15:18.480
Zillow has built out conversational AI tools uh that work with buyers.
00:15:18.799 --> 00:15:22.639
So it's it's doing more and more.
00:15:23.279 --> 00:15:23.600
Right?
00:15:23.679 --> 00:15:26.480
So let's let's fast forward a year from now, 2027.
00:15:27.200 --> 00:15:34.080
What will the real estate agent's job actually be and what will AI systems do for the agent?
00:15:34.320 --> 00:15:46.559
And is it gonna be possible for a one-person show to replicate what a team of five to ten agents and admin, you know, used to be able to do, right?
00:15:46.960 --> 00:15:49.919
What uh where do you think it's heading, James?
00:15:50.559 --> 00:16:00.320
Yeah, so um this the smartest people that I know and the the ideas that resonate the most with me, um Tim and Julie Harris.
00:16:00.480 --> 00:16:05.200
I like their idea that um basically trust.
00:16:05.440 --> 00:16:09.759
You can't trust an AI agent, there's no like relationship, there's no stakes.
00:16:10.000 --> 00:16:12.480
Um and I think that that's true.
00:16:12.639 --> 00:16:57.440
Uh AI is gonna disintermediate and make things happen faster and facilitate, but at the end of the day, they need to have a conversation with a human uh and they because they can trust a human because it's the most similar to what they are, um and then stakes, you know, someone to either succeed or screw it up and to be held accountable for it, and you know, if someone loses a million dollars or a hundred thousand dollars or whatever because some AI chatbot where there's a huge disclaimer helps them in a bad way, you know, you can't you can't be angry at that chatbot, um that AI chatbot or agent, uh, but you can hold a real estate agent accountable.
00:16:57.679 --> 00:17:02.399
So someone that you can trust and where there are real stakes and you can actually build a relationship with.
00:17:02.720 --> 00:17:10.960
And there's also like the it's gonna be more enjoyable dealing with a human because you have that human interaction, we're built that way.
00:17:11.359 --> 00:17:20.400
So, yes, you can build uh a business that in the past took five agents um and you can do it with fewer.
00:17:20.480 --> 00:17:39.519
And frankly, I I can't remember who it was, but um they audited at the suggestion of someone else how many phone calls their their team was making, like per day, and it was like 1.27 calls per day, and they were devastated as a team leader.
00:17:39.759 --> 00:17:48.960
Um and with AI it's getting really good at making those calls, and those calls aren't about building trust, those calls are about discovering and setting an appointment.
00:17:49.839 --> 00:18:15.039
Yeah, so I think I think that stat was um it was a team leader we both know in our market, and um you know he had a conversation with John Chaplack, and the audit was audit your calls, you know, and figure out your average the average um number of two-minute conversations your agents were having per day.
00:18:16.240 --> 00:18:19.119
And if it's less than five, you've got a problem.
00:18:20.480 --> 00:18:23.680
I think it was like one point seven or something.
00:18:23.839 --> 00:18:24.480
It was less than two.
00:18:25.759 --> 00:18:38.720
So and the reason for that metric, right, is if it's less than two minutes, that means you got shut down on the first objective and you never got to that person's potential timing and motivation.
00:18:39.039 --> 00:18:39.279
Right.
00:18:39.359 --> 00:18:50.960
So if you if you get beyond that, you have you have enough data, you you have enough um information about why and when they might need to buy and sell.
00:18:51.759 --> 00:19:00.960
If you're if you're under two minutes, you know, you basically got one objection or maybe two and and you know got off the phone.
00:19:01.119 --> 00:19:16.079
So it's it's those two-minute conversations, and if yeah, if AI can can help do that and get you more appointments, then you know, obviously like it's going to be able to replace multiple human beings.
00:19:16.480 --> 00:19:35.920
Um Carl, what what are your uh thoughts on this question of what AI will be doing for real estate agents in 2027 and what the most valuable skills will be for agents to have, you know, as AI continues to do more and more.
00:19:37.200 --> 00:19:43.039
Well, when you first brought up the topic, I think you asked, what what's an agent's job going to be a year from now, 2027?
00:19:43.440 --> 00:19:45.599
And the job's not changing.
00:19:45.759 --> 00:19:49.920
The the core function is to be a relationship builder.
00:19:50.240 --> 00:19:50.720
Right?
00:19:51.039 --> 00:20:01.200
Um Yeah, and build trust with folks and be a trusted resource to be able to provide them the real information and and coach them and guide them down the right path.
00:20:01.440 --> 00:20:15.359
Um yeah, I was in a a mastermind yesterday here with some of the top-producing loan officers in the country, and we had a similar conversation about you know, well, what's what's AI going to do to the business in the next three to five years?
00:20:15.599 --> 00:20:27.039
And you know, the younger generation came up, you know, talking about Gen Z and I guess, you know, student Gen Alpha, you know, how their behavior is with utilizing AI.
00:20:27.519 --> 00:20:41.200
And when we've been working with Gen Z clients, like the overall consensus of the group was that essentially like they they use the tools and they get all the questions, but they still don't understand the concepts, right?
00:20:41.279 --> 00:20:50.559
So same thing as a real estate professional, you have to be able to really deliver big value on helping them understand the concepts.
00:20:50.720 --> 00:20:59.279
And you know, for for you guys as a as an agent, it's like really I think it's based on like you know pricing strategy on the listing side.
00:20:59.359 --> 00:21:02.400
You know, what what is the data telling you?
00:21:02.559 --> 00:21:11.759
What's going to put you in the most advantageous position to be able to have the most leverage and ultimately make the most money, right?
00:21:11.920 --> 00:21:20.400
Um and then you know, on the buy side, like you know, what is the information to be able to make an educated offer, you know, for the right price, have a winning offer, right?
00:21:20.559 --> 00:21:32.880
All that stuff, like they can put if they if they're really good at prompting, which you know the younger generation is, they're gonna get good feedback from AI, but are they gonna understand the concepts?
00:21:33.279 --> 00:21:45.920
And you know, even if they do, but it's gonna spit out so much information, like they they really need it in a condensed way, and they need validation on that information.
00:21:46.400 --> 00:21:51.680
So I I think the the smartest people in the business are going to prosper.
00:21:51.839 --> 00:21:57.599
I think we need to be very educated, but you don't need to spend much a lot of time planning.
00:21:57.680 --> 00:22:10.799
Like my I had a like my second boss in Mortgage business, he always said, like, hey, you know, I've met I've met really good people in the business that they never sold anything because they spent all their time planning and they didn't spend any time taking action.
00:22:10.960 --> 00:22:23.200
You know, so you got to have a good balance of that, you know, 10% planning, educating, and 90% taking action because you know, otherwise you're just not gonna move people through the process and you're not going to make any sales.
00:22:23.519 --> 00:22:34.880
Um, but yeah, I guess also to close, I mean, it's just gonna save so much time, it's gonna condense how many people you need to have to do a lot of transactions.
00:22:35.119 --> 00:22:39.279
And I'll pose this question back to you guys.
00:22:39.519 --> 00:22:43.200
What do you think that's gonna do from a market compression standpoint?
00:22:43.359 --> 00:22:48.160
Because that was the conversation that we were having in the loan officer mastermind.
00:22:48.319 --> 00:23:03.680
Is like, you know, with if we're gonna be able to eliminate, let's just say, eliminate processors and just have underwriters process the loans because of AI, like the, you know, there's gonna be some market compression where we're gonna make less money per deal.
00:23:03.920 --> 00:23:07.359
You know, that's gonna mean better rates for the consumer, you know.
00:23:07.519 --> 00:23:11.680
Um, but we're gonna have to probably do twice as much business to make the same amount of money.
00:23:11.920 --> 00:23:21.839
Is it gonna, is that going to translate on the realtor side where, you know, there's gonna be more agents that are willing to work for less money because it's costing them less to run their business?
00:23:22.000 --> 00:23:24.640
I'm I'm curious as you what your thoughts are on that.
00:23:25.359 --> 00:23:29.359
Yeah, that is a really interesting question.
00:23:29.599 --> 00:23:42.880
You know, I would I would assume on the loan officer side, like, you know, if if you have to pay your processor less, or one processor can do like five times the amount of work, right?
00:23:42.960 --> 00:23:49.200
So now you have less processors, you know, you're saving there, right?
00:23:50.079 --> 00:23:55.440
And maybe some of that savings gets passed on to the consumer in the form of a lower rate.
00:23:56.000 --> 00:24:04.240
I don't necessarily know if that will shrink what the LO makes, though, because you you still need you still need the LO.
00:24:04.720 --> 00:24:05.119
Right?
00:24:05.279 --> 00:24:21.920
So there's like that part of it, and then you know, thinking on the real estate side of it, um, you know, I don't I don't know if that will cause compression on what the agents actually make.
00:24:22.400 --> 00:24:30.400
Um you you you know, you're either spending less time or less money as an agent because of AI, right?
00:24:30.880 --> 00:24:41.920
Um you're either d doing less of the admin and back-end work or um or you're not paying someone who was doing that for you.
00:24:42.559 --> 00:24:49.839
Um so maybe maybe you'll see some compression on that, right?
00:24:50.000 --> 00:25:06.000
Or maybe it becomes like more of a like maybe actually interacting and talking with a human being that you can quickly build the speed of you know trust with, um maybe that creates like more value for the agent.
00:25:06.720 --> 00:25:22.000
Um I think what probably moves the needle more than an agent's cost structure or their deal flow is how many other real estate agents are out there that can compete with you.
00:25:22.160 --> 00:25:35.119
And so the framework I'm thinking about it in is um does it reduce the barriers to entry uh and does it reduce the barriers to become a really good agent?
00:25:35.759 --> 00:25:42.799
And I don't know the answer to that, because to be a really good agent, first you've got to you know do a small number of transactions well.
00:25:43.279 --> 00:25:45.279
Um and you still have to be a good agent.
00:25:45.440 --> 00:26:11.519
Doesn't matter if you've got conversations with uh you know ten times or twenty times as many people, if you're not able to convert those, if you meet with them and they're like this guy is weird, or I don't trust them, or they don't have experience, um you know, that's not that's not gonna increase the supply of quality real estate agents.
00:26:12.319 --> 00:26:12.799
Yeah.
00:26:12.960 --> 00:26:17.279
I mean it it kind of feeds into like our our next or one of our other topics, right?
00:26:17.359 --> 00:26:21.200
Is this a great market or the best market to gain market share?
00:26:21.440 --> 00:26:22.079
Um, right?
00:26:22.160 --> 00:26:27.119
Because we went from six million deals a year to four million um in a very fast time.
00:26:27.920 --> 00:26:40.799
And you know, we're there's less agents in the business, and you know, the people that used to be do zero, one, two, three, four, maybe five deals a year, like they have less time to focus on it, right?
00:26:41.519 --> 00:27:06.640
Um because they have to go get other jobs or or get out or do something else, and now there's less agents, and now the agents, you know, that are doing 50 deals or 100 deals or 20 deals, like maybe they're doing 25 or 55 or 110 because those those agents, you know, those couple hundred thousand agents that were doing like one or two or three deals a year, like those deals have to go to somewhere else.
00:27:06.880 --> 00:27:13.359
And you know, I would think with fewer agents the commission would be more protected.
00:27:13.599 --> 00:27:22.480
Um and we've certainly seen that, you know, we've had a lot go on in our you know, it's just it's not just the affordability and the rates and and prices, right?
00:27:22.559 --> 00:27:29.519
We've also had these commission lawsuits and the new buyer agent rules, right?
00:27:29.599 --> 00:27:32.559
And and so that's that's on there.
00:27:32.720 --> 00:27:37.200
We we do know that in the last two years, average commissions have gone up.
00:27:38.240 --> 00:27:41.599
Um is that because of the lawsuits?
00:27:41.759 --> 00:27:44.240
Is that because of less agents?
00:27:45.279 --> 00:27:45.680
Right?
00:27:45.759 --> 00:27:51.920
I I don't know, but I I think um so I think I think you could argue it either way.
00:27:52.480 --> 00:28:03.599
You know, I think the important thing though is like be the agent that's able to use AI that reduces your non-income producing activities, right?
00:28:03.680 --> 00:28:09.599
That gives you more time to spend on your high dollar activities, right?
00:28:09.759 --> 00:28:15.200
Which is like prospecting, building that trust, building that emotional connection, right?
00:28:15.279 --> 00:28:26.000
So if if AI is making all the stuff you do in the background quicker and better, now you have more time to connect with more people, build more relationships.
00:28:26.160 --> 00:28:30.480
So I think I think if you use AI properly, it could be a huge benefit, you know.
00:28:30.720 --> 00:28:37.680
Um on our team, you know, Carrie's done an amazing job building out some AI systems.
00:28:37.759 --> 00:28:39.359
Um, I'm not gonna it does a lot, right?
00:28:39.440 --> 00:28:51.440
It can manage email, it can it can talk to prospects, um, it can follow up with agents on the team after their appointments to you know make sure they put their notes in the CRM and and followed up.
00:28:51.519 --> 00:28:52.400
Like it does a ton.
00:28:52.480 --> 00:28:56.240
I'll I'll give like one example of specifically how it helped her with a builder.
00:28:56.319 --> 00:29:03.279
You know, she had a meeting with a builder that was looking to um pick certain neighborhoods in a city to focus on.
00:29:03.519 --> 00:29:06.559
And I think in the city there were like a hundred different neighborhoods, right?
00:29:06.640 --> 00:29:08.880
Or subdivisions or areas.
00:29:09.440 --> 00:29:21.519
And it would take a human being a lot of time to analyze like the average you know price that a home high-end home sells in each of those neighborhoods, the average acquisition cost, average days of market.
00:29:21.599 --> 00:29:23.279
Like there's there's a lot of data to go through.
00:29:23.440 --> 00:29:40.880
And uh, you know, Carrie's AI agent in like less than 15 minutes, summarized it all, uh, picked like the top 10 areas that the builder should focus on, and um, you know, so she could have that long meeting with the builder, right?
00:29:41.359 --> 00:29:49.119
Get the data that the builder needed, and then get it back like really, really fast.
00:29:49.279 --> 00:29:55.279
So now that's gonna allow her to have more of those meetings, spend more time on higher dollar things.
00:29:55.440 --> 00:29:58.000
So I think, you know, that's just a couple examples there.
00:29:58.079 --> 00:30:10.319
But I think in 2027, agents, yes, agents will have the ability, you know, as a as a one-person show to to do what five or maybe even ten agents and and team members and staff could do.
00:30:10.559 --> 00:30:21.839
Um and you need to figure out how do I use these tools to spend more time doing the real work at real estate, like picking up the phone, making the calls, making the connection, building relationships.
00:30:22.000 --> 00:30:39.759
So that's where I think you know, agents need to go with it is it's it's not going to replace everything you do, but if you do it properly, it will replace the things that are less important than the connections and the relationships.
00:30:40.000 --> 00:30:46.799
And you know, it it could be a huge advantage, right, for for agents that that take advantage of it.
00:30:47.119 --> 00:30:50.240
So and and Carl, you brought up a great point.
00:30:50.319 --> 00:30:54.319
Like, don't spend like 80% of your time on it, right?
00:30:54.400 --> 00:31:03.440
Spend 80, 90% of your time on building relationships and 10% of like building and learning the AI systems that will help give you more time.
00:31:03.680 --> 00:31:08.240
Uh AI systems are, in my opinion, just an evolution of systems, right?
00:31:08.559 --> 00:31:17.279
And so, like in 2021, when uh the market was going crazy, agents could build systems, right?
00:31:17.359 --> 00:31:25.119
They could hire uh transaction coordinators either here locally and team members here locally, or virtual assistants.
00:31:25.519 --> 00:31:29.440
Um and AI agents are just an evolution of that.
00:31:29.599 --> 00:31:39.759
Um I think we're in a period where we're we're still trying to get the quality and cost to be better than that last iteration.
00:31:40.160 --> 00:31:47.519
Um but so uh you know in this market is it easier to gain market share?
00:31:47.759 --> 00:31:52.240
I think it's all about whether people are building those systems or not.
00:31:52.640 --> 00:31:55.680
And the people that are building systems are definitely gonna gain market share.
00:31:55.839 --> 00:32:01.599
But that's I don't think that's really all that different from uh from before.
00:32:02.160 --> 00:32:12.079
So it sounds like the most important job of agents is is gonna be the emotional connection and building trust with people, which is what it is now, right?
00:32:12.160 --> 00:32:16.400
You're just gonna have more time to do it if you build the right systems.
00:32:16.720 --> 00:32:21.839
Um and in the past you could build those systems with a lot of people, now you can build them with less people.
00:32:22.079 --> 00:32:25.920
Uh we've got time for one more of our topics here.
00:32:26.000 --> 00:32:28.000
We're not gonna get to all four today.
00:32:28.240 --> 00:32:37.680
Uh all right, so is and and we we we teased it a little bit when we were just talking about AI, like, is this actually the best market in years to gain market share?
00:32:37.759 --> 00:32:41.680
And I think, again, I mentioned we went from six million to four million, right?
00:32:42.000 --> 00:32:45.200
Um, you know, let's just use a more exaggerated example.
00:32:45.279 --> 00:32:55.440
In your local market, if there were a thousand home sales and now there's five hundred and you sold 20 homes last year, you know, I think I think there's gonna be two types of agents and how they respond to that, right?
00:32:55.519 --> 00:33:04.079
One person's gonna use it as an excuse or just be comfortable with what well, the market shrunk by 50, so I guess I'm going from 28 deals to 10 deals, right?
00:33:04.319 --> 00:33:08.240
Um hopefully if you're listening to this podcast, that's not the type of agent you want to be.
00:33:08.319 --> 00:33:10.319
Hopefully you'll be the other type, right?
00:33:10.480 --> 00:33:13.519
Which is all right, the mark market shrunk 50%.
00:33:14.160 --> 00:33:18.160
I'm gonna have to put in more work to do 20 deals, right?
00:33:18.319 --> 00:33:19.759
Instead of going down to 10.
00:33:20.640 --> 00:33:34.480
And if you're able to do 20 deals when the market's shrunk by 50% uh because you put in more work, well, you know, some people might look at that and say, like, yeah, I did the same amount of deals as last year.
00:33:34.640 --> 00:33:38.480
Well, you actually doubled your market share, right?
00:33:39.200 --> 00:33:50.000
You you you you kept your income for you and your family the same uh but put yourself in a position to just explode when the market goes back up, right?
00:33:50.079 --> 00:33:53.519
When they're when we go because of real estate's cyclical, cyclical.
00:33:53.759 --> 00:33:58.319
Um so instead of going from you know 20 to 10, right?
00:33:58.400 --> 00:34:02.720
You stay at those 20 deals, well, when the market comes back up, guess what?
00:34:03.440 --> 00:34:05.519
You're not gonna be doing 20 deals anymore, right?
00:34:05.599 --> 00:34:07.839
You're gonna be at 40 or or or more.
00:34:08.559 --> 00:34:21.599
Um so my take on it is, and I don't I don't know if you guys agree or disagree, I have different thoughts, but I think this is a great opportunity for agents that want to work harder, uh, even if it means their income's the same now, right?
00:34:21.679 --> 00:34:23.440
But they're gonna gain more market share.
00:34:24.000 --> 00:34:26.559
I think there's so much more opportunity right now, Dan.
00:34:26.800 --> 00:34:41.360
I mean, because when like if we go back to 2020 and 2021, you know, you look at listings, it you know, anybody could sell a house, not much marketing was needed, which means the listing fallout rate was really low.
00:34:41.679 --> 00:34:47.760
And then, you know, for buyers, I mean, there were like, you know, in our market, there were like 50, 60 offers on a single house.
00:34:47.920 --> 00:34:52.239
You're gonna have to make probably a dozen offers to ratify a contract for a buyer.
00:34:52.400 --> 00:34:56.480
You know, so look at today, listing fallout's way higher.
00:34:56.639 --> 00:35:01.440
You know, there's way more listings that you can grab that you know somebody failed to sell.
00:35:01.840 --> 00:35:08.559
And, you know, for buyers, it's much easier to get them under contract on the first or second house because you have less competition.
00:35:08.719 --> 00:35:12.400
It's easier to negotiate seller-paid closing costs for first timers.
00:35:12.639 --> 00:35:18.800
So more potential people can actually buy on the buyer side because of that, right?
00:35:18.880 --> 00:35:20.800
If they have limited money as first timers.
00:35:20.960 --> 00:35:27.599
I mean, obviously, affordability is down as far as rates go, but like from a cash standpoint, you know, that stuff can be more negotiable.
00:35:27.840 --> 00:35:41.599
And then like, you know, from a listing standpoint, like if you're if you are really good at negotiating with your own client and setting good expectations, you're gonna have a much higher close rate than other other agents are.
00:35:41.840 --> 00:35:54.320
Like, I I've talked to a bunch of real estate real estate friends about how like everybody is for the most part, like the conception is you know being focused on negotiating with the person on the other side of the table.
00:35:54.480 --> 00:36:06.320
You know, if you're the listing agent, negotiating with the buyer's agent, when in reality the the negotiation really starts with your own client and not being an order taker and just listing the home for whatever the client thinks the home is worth.
00:36:06.559 --> 00:36:14.800
If you can bring the data and educate and negotiate with your client, hey, like, you know, this is where we really should be based on what you told me.
00:36:14.880 --> 00:36:23.039
You know, if you want to sell your house fast, this is the sell my house fast price, you know, then you're gonna be able to close at a much higher rate than other agents.
00:36:23.199 --> 00:36:25.599
I just think there's so much more opportunity right now.
00:36:25.760 --> 00:36:27.519
And I really like what you said.
00:36:27.760 --> 00:36:32.880
I mean, are you gonna let the market beat you down or are you gonna come out stronger on the other side of this?
00:36:33.519 --> 00:36:34.079
All right, James.
00:36:34.239 --> 00:36:35.840
You guys are athletes, James.
00:36:36.159 --> 00:36:40.559
Yeah, you guys are athletes, and I'm sure a lot of people listening probably are too.
00:36:40.719 --> 00:36:45.760
Um, I think the mantra of you get better in the off-season holds true here.
00:36:45.840 --> 00:36:49.360
Um, you know, whether you're playing lacrosse or football or soccer or whatever.
00:36:49.519 --> 00:36:52.400
Um right now we're in the off-season, and now's the time.
00:36:52.559 --> 00:37:06.320
Keep scrimmaging, keep lifting weights, uh, keep working on your fundamentals and building those in the real estate world and uh lending world, building those systems so that you're creating capacity.
00:37:06.960 --> 00:37:10.239
And when the market comes back, you've got these systems and this capacity.
00:37:10.400 --> 00:37:12.159
That's what's gonna double your business.
00:37:12.239 --> 00:37:22.719
Uh and if you're if you're building those things now, I think you're gonna keep your business at the same level as it was before, maybe increase it a little bit, but you're gonna have this enormous upside.
00:37:22.960 --> 00:37:30.880
And the people that aren't that don't have those systems and that aren't being consistent, they're not just getting like the overflow uh business.
00:37:31.039 --> 00:37:36.639
You know, maybe they're doing like I don't think it's half their business, I think it's like 10 or 20 percent.
00:37:36.880 --> 00:37:48.159
Um, and then the the people that are building those systems and that are still treating it like a business are either maintaining or incrementally increasing in this market.
00:37:49.039 --> 00:37:50.960
All right, I love that analogy, James.
00:37:51.039 --> 00:37:57.760
Uh unfortunately, we don't have time to get to our last topic uh about why you need to stop waiting for rates to save your business.
00:37:57.840 --> 00:37:59.840
So we'll kick that one over to the next show.
00:38:00.000 --> 00:38:03.599
I'm super excited about that topic, though, because I'll give a little teaser.
00:38:03.679 --> 00:38:20.079
I think there is an amazing opportunity for real estate agents to use creative financing, seller financing, assumable loans, subject twos to create more value for buyers and sellers at the same time so that you know sellers aren't just selling their home and walking away from low rates, right?
00:38:20.159 --> 00:38:27.519
They're gonna get more value if you learn some of these techniques we'll talk about in the next show, and the buyers will get more value too.
00:38:27.679 --> 00:38:29.519
So thank you for tuning in, guys.
00:38:29.599 --> 00:38:35.119
If you've if you've listened this far, I definitely think it means we have earned a five-star review.
00:38:35.280 --> 00:38:40.400
So please, if you're listening on Apple, tap the five stars, leave us a comment.
00:38:40.480 --> 00:38:44.159
Um, maybe we'll read it on the next show too, and give you a shout-out.
00:38:44.320 --> 00:38:49.360
So um, and if you're on YouTube, of course, subscribe, leave some comments or or Spotify.
00:38:49.440 --> 00:38:51.519
You know, we've got some listeners over there too.
00:38:51.760 --> 00:39:07.599
Um, and and I I just have to mention, guys, if if you if you like the show, like our vibe uh and want to partner with us at exp Realty, you can contact anybody on the episode, anybody on the show, even Nick, even though he wasn't here today.
00:39:07.840 --> 00:39:10.639
Um, and we would love to have the conversation.
00:39:10.800 --> 00:39:20.320
We'd be honored with you to have the conversation to share with you the value, the benefits that we give you when you partner with us at exp Realty, right?
00:39:20.400 --> 00:39:29.920
It's not just about the low caps, um, the amazing training and technology or the stock awards and revenue share, which can be life-changing, right?
00:39:30.000 --> 00:39:34.719
That's part of the reason I was able to take two months uh in the summer on an RV trip is because of revenue share.
00:39:34.800 --> 00:39:38.719
But um, you know, we're also gonna truly become your partners.
00:39:38.960 --> 00:39:46.800
We provide$40,000 to$50,000 of value of coaching and training and mentoring um and masterminds and events, right?
00:39:47.039 --> 00:39:50.400
That you get when you pick one of us as your sponsors at EXP Realty.
00:39:50.480 --> 00:39:54.159
And you know, all you gotta do is text us, leave a comment.
00:39:54.400 --> 00:39:58.000
Um, you know, there's there's links all over where we post these things.
00:39:58.079 --> 00:40:02.800
So we would love to have that conversation with you and make sure you tune in next week.
00:40:02.960 --> 00:40:04.079
We'll see you guys later.
00:40:04.400 --> 00:40:08.800
You've been listening to I professated growth over Harry Stolen Dad Lesniak.
00:40:09.039 --> 00:40:11.840
Real strategies, real results, real estate done differently.
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