Latest / Massive Agent Podcast / The END of NAR Settlement Confusion & Uncertainty?

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The END of NAR Settlement Confusion & Uncertainty? · Massive Agent Podcast

0:00
SPEAKER_00: If you're exhausted and confused about the NER settlement and the rule changes, what's happening, when it's happening, and all of this, all within less than a month of the rules actually being enforced, this is the episode for you.
0:14
SPEAKER_00: Because it's not just you, right?
0:16
SPEAKER_00: We're all completely confused and overwhelmed.
0:18
SPEAKER_00: But I'm going to give you some light at the end of the tunnel.
0:20
SPEAKER_00: You're not going to want to miss list.
0:21
SPEAKER_00: Let's go.
0:23
SPEAKER_01: The massive agent podcast.
0:25
SPEAKER_01: We lead generation tips and strategies to give you more leads and sell more homes.
0:31
SPEAKER_00: I love to buy houses.
0:32
SPEAKER_00: I like to sell houses.
0:36
SPEAKER_01: Wait a minute.
0:37
SPEAKER_01: Leads a week.
0:40
SPEAKER_01: I've had better.
0:42
SPEAKER_01: Oh, have I got your attention now?
0:45
SPEAKER_01: Here's your host, Dustin Brome.
0:49
SPEAKER_00: What is up, everybody?
0:50
SPEAKER_00: Welcome to episode 344 of the Massive Agent Podcast.
0:54
SPEAKER_00: I am your host, Dustin Brohm, here in Salt Lake City, Utah, the site of the Ignite 24 Team Builder Summit that we're doing October 9th and 10th.
1:03
SPEAKER_00: Make sure you get your tickets immediately over at IgniteSLC.com and code ERLY is still available to get half off your tickets.
1:12
SPEAKER_00: Yes, even the VIP tickets.
1:14
SPEAKER_00: Go check that out.
1:15
SPEAKER_00: Welcome to the show, guys.
1:16
SPEAKER_00: I am so glad you're here.
1:17
SPEAKER_00: If you're exhausted and overwhelmed by just all the confusion, all the bullshit, all the uh the differing opinions, uh, the the differing takes on you know interpretations of what's changing in the rules, uh we're in the same boat.
1:34
SPEAKER_00: It's at like today, so I'm recording this on uh what is it, Tuesday.
1:39
SPEAKER_00: Tuesday of this week.
1:41
SPEAKER_00: And it's just getting out of control.
1:43
SPEAKER_00: The problem is, right?
1:45
SPEAKER_00: I I blame NAR, not completely, but NAR absolutely has a role in this clusterfuck that's happened.
1:54
SPEAKER_00: August 17th is less than a month away.
1:57
SPEAKER_00: It's just over three weeks away.
1:59
SPEAKER_00: And it feels like there's more confusion, more uncertainty right now than there was three months ago, with all the settlement and the rule changes and all this stuff.
2:09
SPEAKER_00: So, and look, there's some posts out there right now from certain influencers and leaders in the industry that are uh meant to be clickbait, meant to uh inflame the opinions uh and emotions of people just to get them to frickin' comment.
2:25
SPEAKER_00: Um and there's a game of semantics being played.
2:29
SPEAKER_00: So I'm gonna dive into this, right?
2:31
SPEAKER_00: I'm gonna go over where some of the confusion lies and then show you what the light at the end of the tunnel is, because there absolutely is some.
2:39
SPEAKER_00: Uh, I hope to bring you some clarity, and and really I hope to help you just zoom the hell out for a minute and understand the and and see the bigger picture, all right?
2:53
SPEAKER_00: Because there's a far too many agents that get into the weeds, and you you get pulled into the weeds through your Instagram feed, through TikTok, through the the news, right?
3:04
SPEAKER_00: The the media companies.
3:06
SPEAKER_00: And you've got to be able to pull yourself out.
3:09
SPEAKER_00: You have to being able to tune out bullshit, or just to tune out noise in general, it's becoming such a superpower, right?
3:21
SPEAKER_00: If you if you have that superpower, you have such a competitive advantage because so many people in the world today, in our society today, are just completely sucked into bullshit and noise.
3:34
SPEAKER_00: And pretty soon, you know, they're down a rabbit hole and they're scared out of their minds.
3:39
SPEAKER_00: They think that they're going out of business, they think that our profession is ending, that somehow no one's gonna be using no one's gonna be using agents to buy or sell properties ever again.
3:52
SPEAKER_00: And it's just it's just total bullshit.
3:55
SPEAKER_00: So let's start with the problem, shall we?
3:58
SPEAKER_00: Actually, I'm gonna start with this because I mentioned at the top of the show here.
4:02
SPEAKER_00: Uh, we I believe I mentioned this on a previous episode, but I'm gonna be very clear here because this is very important.
4:08
SPEAKER_00: We are doing a team builder summit for anyone who currently runs a team and anyone who wants to, right?
4:16
SPEAKER_00: And we're doing this in Salt Lake City, Utah, October 9th and 10th.
4:20
SPEAKER_00: It was scheduled for August.
4:21
SPEAKER_00: There were a lot of scheduling issues.
4:23
SPEAKER_00: The hotel pulled a fast one on us and we had to reschedule.
4:26
SPEAKER_00: I think it's a blessing in disguise.
4:28
SPEAKER_00: It gives you more time to get your ticket, to book your travel, and all that good stuff.
4:32
SPEAKER_00: So the Ignite Team Builder Summit is still happening.
4:35
SPEAKER_00: We've extended the early the Early Bird special, the Early Bird uh promo code to get half off your tickets.
4:41
SPEAKER_00: We've extended that, uh, not forever, but for right now.
4:44
SPEAKER_00: If you're hearing this episode, it's it's still available.
4:47
SPEAKER_00: And um what's so cool?
4:50
SPEAKER_00: So through this rescheduling of the event, I had to scramble, right?
4:54
SPEAKER_00: I'm like, well, shit, we have people that have booked travel, and you know, like I am pleased to report every single attendee is still coming.
5:02
SPEAKER_00: We just transfer their tickets over, we got their their travel figured out, everything's good with everyone who had already uh bought a ticket, and all the speakers are still coming.
5:11
SPEAKER_00: We still have Neil Dingra, we still have Michael Perry, we still have Jonathan Campbell, who you heard on this podcast what three, four, uh, three or four weeks ago.
5:19
SPEAKER_00: Uh, if you heard Jonathan Campbell, you absolutely need to come meet him, spend time with him, be in a room with him for 48 hours, and just learn everything you possibly can from him and others.
5:30
SPEAKER_00: Paige Steckling's gonna be there.
5:32
SPEAKER_00: We have Matt Kane, who's now able to come.
5:34
SPEAKER_00: Matthew Kane's been on this podcast four times before.
5:37
SPEAKER_00: He started as a solo agent.
5:40
SPEAKER_00: Uh, still, let's see, he was he was a full-time firefighter when he got into real estate.
5:45
SPEAKER_00: And he sold 40 homes his first year.
5:47
SPEAKER_00: Incredible first year while still being a full-time firefighter.
5:51
SPEAKER_00: In year two, he doubled that to 80 sales, still as a firefighter.
5:55
SPEAKER_00: And then he got out of, he retired from the fire department.
5:59
SPEAKER_00: When he went all in, he was selling over 100 homes a year by himself.
6:02
SPEAKER_00: And within 24 months, by following the blueprint of some of the people who are gonna be in this room at Ignite, he now runs a team of 20 in less than 24 months.
6:14
SPEAKER_00: He built a team of 20 in a in just about 24 months, and he's gonna be at the training.
6:19
SPEAKER_00: So super excited we can have Matt Kane there.
6:22
SPEAKER_00: Did I miss somebody?
6:23
SPEAKER_00: I feel like we missed somebody.
6:25
SPEAKER_00: I'm gonna be there, of course.
6:26
SPEAKER_00: I'm gonna be doing, you know, playing a uh playing a role in that, of course.
6:30
SPEAKER_00: But to get tickets, to get in this room, to get literally the entire blueprint of everything you'd ever want to know, and even stuff you don't know that you need to know, you can get it at Ignite, the Team Builder Summit, October 9th and 10th.
6:44
SPEAKER_00: Just go to igniteslc.com and get your ticket and use code ERLY to get half off.
6:50
SPEAKER_00: Yes, including the VIP tickets.
6:52
SPEAKER_00: My my hell that there's only like a dozen left, but we're gonna be doing a special off-site VIP dinner with all the speakers at some fancy steak restaurant in Salt Lake.
7:03
SPEAKER_00: And you just get that much more access to the speakers, you know, on one-to-one um conversations.
7:11
SPEAKER_00: And this event is the unlock you've been looking for.
7:15
SPEAKER_00: If you have a team that you're trying to grow or you want to start one the right way and minimize your mistakes, you need to be at Ignite in October.
7:21
SPEAKER_00: Igniteslc.com, get your butt in the seat immediately.
7:26
SPEAKER_00: Let's talk about the cluster that exists right now in our industry, right?
7:31
SPEAKER_00: So, since the NAR settlement, the infamous NAR settlement, the reason that I said I blame NAR here is there was so little clarity from them up front, right?
7:44
SPEAKER_00: Like right when it came out, they did not lead.
7:48
SPEAKER_00: And that left a vacuum where everyone, all of us, were searching for answers.
7:52
SPEAKER_00: We're like, what the hell is going on?
7:53
SPEAKER_00: What does this mean?
7:54
SPEAKER_00: You know, what do we need to change moving forward?
7:56
SPEAKER_00: What is how does this affect our clients?
7:58
SPEAKER_00: How do we need to change our business practices?
8:00
SPEAKER_00: Are the forms changing?
8:01
SPEAKER_00: This, that, and the other, right?
8:02
SPEAKER_00: All these questions immediately.
8:04
SPEAKER_00: And NAR was not there to clearly articulate answers to those.
8:09
SPEAKER_00: So all these other people step in.
8:12
SPEAKER_00: So we have states, we have MLSs, we have associations, we have boards, we have brokerages, we have brokers, we have everyone has their own spin and take.
8:22
SPEAKER_00: And and plus the media companies, right?
8:24
SPEAKER_00: We have BAM, we have Inman, Housing Wire, uh, CNBC, you name it.
8:29
SPEAKER_00: Everyone has their own take.
8:31
SPEAKER_00: Uh, and CNN, the the most garbage media company outlet on the planet, or at least top three.
8:40
SPEAKER_00: I'm sure that there's probably one worse than CNN, but it's hard to find.
8:43
SPEAKER_00: I can't think of it.
8:45
SPEAKER_00: CNN, I remember their headline, it was like uh the days of the six percent commission are gone or something.
8:51
SPEAKER_00: That's not what the settlement said at all.
8:53
SPEAKER_00: Literally, it just said you can no longer offer commission uh through the MLS.
8:58
SPEAKER_00: They didn't say anything about what percentage you charge for your services or anything like that.
9:03
SPEAKER_00: It says no longer offered through the MLS.
9:06
SPEAKER_00: So just insanity has happened.
9:09
SPEAKER_00: So if you're confused, I don't blame you.
9:11
SPEAKER_00: But lately, as we get closer to this August 17th deadline, when those rule changes go into place, at the latest, right?
9:18
SPEAKER_00: I've heard I heard Iowa has already implemented theirs.
9:21
SPEAKER_00: Utah's uh Utah's MLS is implementing ours in um August 15th.
9:26
SPEAKER_00: Just got an email this morning with some clarity on that.
9:29
SPEAKER_00: And so there's we have Colorado that's saying, well, forcing everyone to sign a buyer broker agreement isn't legal.
9:37
SPEAKER_00: So they're pushing back on that.
9:38
SPEAKER_00: We have other states that are saying the opposite.
9:41
SPEAKER_00: It's just a total cluster right now.
9:43
SPEAKER_00: So here's what you need to know, right?
9:45
SPEAKER_00: Zoom out.
9:47
SPEAKER_00: Please zoom out.
9:49
SPEAKER_00: This is all going to work out, right?
9:51
SPEAKER_00: There's there's a few key things that you need to focus on that you absolutely should do moving forward.
9:56
SPEAKER_00: You should have been doing them already.
9:58
SPEAKER_00: But moving forward, you sure as shit better start doing these few things.
10:01
SPEAKER_00: And then zoom out and forget about the rest, right?
10:04
SPEAKER_00: Everything that's implemented will probably get changed and adjusted over time.
10:08
SPEAKER_00: There's probably gonna be follow-up lawsuits saying, well, wait, you implemented this, but that's not what we meant.
10:13
SPEAKER_00: You should have done this instead.
10:14
SPEAKER_00: And they're like, bullshit, you said this.
10:16
SPEAKER_00: So this is going to, this is not over, right?
10:19
SPEAKER_00: This is probably we're probably in like the second or the third inning of this shit.
10:24
SPEAKER_00: I don't say that to stress you out more.
10:27
SPEAKER_00: I say that to help you just zoom out, stop worrying so much about all the little nuances and this, that, and the other, and certain influencers with the initials RC putting out Instagram posts saying that uh their brokerage will no longer allow listing agents to share their commission with buyers' agents ever again.
10:45
SPEAKER_00: Well, that's a question of like that's just a matter of semantics, right?
10:49
SPEAKER_00: Because yeah, that's true.
10:52
SPEAKER_00: Like the seller will now offer compensation directly to the buyer, it's no longer coming out of the listing agent's commission, right?
11:01
SPEAKER_00: It's just so the same thing is happening, we're just saying different things.
11:07
SPEAKER_00: Buyers agents are still gonna get paid.
11:09
SPEAKER_00: The good ones, right?
11:10
SPEAKER_00: The as long as you can articulate what you what you do, what you offer, you know what what uh a buyer is gonna get in exchange for your services, as long as you can articulate that and you package it up well, and you can you can really what am I trying to say here?
11:31
SPEAKER_00: The buyer's agents who make the buyer see, hey, this is a valuable thing, this is worth paying for, but there's a way to potentially have the seller pay for it.
11:41
SPEAKER_00: If you can do that, you're gonna thrive.
11:43
SPEAKER_00: Because there's a lot of agents that are just too lazy to dive deeper, too lazy to practice, to train, to run through scripts, to role play.
11:51
SPEAKER_00: And I don't mean you have to do this for hours a day, every day, but some forethought, right?
11:56
SPEAKER_00: Some forethought into packaging up your buyer presentation, creating video, creating a document, creating graphics that that show, hey, this is a package that I offer.
12:05
SPEAKER_00: When you hire me for X amount, you're gonna get this, this, this, and this.
12:09
SPEAKER_00: These are the results that we're gonna provide to you, right?
12:12
SPEAKER_00: Not just things you're gonna do, but results you're gonna provide, right?
12:15
SPEAKER_00: It's important to show them both of those.
12:20
SPEAKER_00: If you can do that, I think you're gonna have a better career than you would have otherwise.
12:27
SPEAKER_00: Because there's a lot of agents that are just not thinking, they're too lazy, they're not willing to work on their communication skills, they're just screaming the sky is falling.
12:36
SPEAKER_00: And um, and then there's a lot of misinformation or misinformation that's uh worded in a way just to get clickbait, and it inflames the emotions of us agents that are already freaking confused.
12:54
SPEAKER_00: We're already confused.
12:55
SPEAKER_00: So zoom out.
12:58
SPEAKER_00: Buyers will always that there will always be buyers willing to pay a professional to help them buy a house.
13:07
SPEAKER_00: There will always be people willing to pay a professional to do something on their behalf, right?
13:16
SPEAKER_00: Maybe there's fewer of them.
13:18
SPEAKER_00: So what?
13:18
SPEAKER_00: It's not gonna be 50% fewer, maybe it's 10%, 5%, 3%.
13:23
SPEAKER_00: Plus, I think that the the number of buyers who think they're gonna go without an agent, I think that will reduce once they go without an agent and they realize, oh shit, this is why agents have existed this way for decades.
13:36
SPEAKER_00: You know, they're gonna learn, oh, this is why everyone uses an agent.
13:39
SPEAKER_00: They don't have to, they've never had to.
13:43
SPEAKER_00: And what I'm gonna go off on a little tangent here about NAR for a second.
13:47
SPEAKER_00: It's it's so funny to me because I talked about how NAR's lack of leadership and lack of clarity and lack of coherent messaging from the beginning really led to a lot of this confusion and bullshit.
14:01
SPEAKER_00: Like, if if NAR can't if they couldn't be organized enough to get that right, like we think that they had organized and maintained and oversaw this massive conspiracy to like collude on commissions, like go fuck yourself.
14:17
SPEAKER_00: It's such an insane thought.
14:20
SPEAKER_00: Um, NER is not capable of much.
14:23
SPEAKER_00: And so the the lawsuits, it's it's it's funny to me how we think there's been not we some allege that there's been this big conspiracy to to keep commissions high or whatever.
14:39
SPEAKER_00: NAR can barely even like discuss like what's happening at their events and what events they have, and and like it's just a mess.
14:50
SPEAKER_00: So that's laughable to me.
14:52
SPEAKER_00: Anyhow, back to zooming out.
14:55
SPEAKER_00: There's always going to be buyers willing to pay someone, a professional, to help them buy a house, especially if they see a way to wrap that cost into their mortgage by having the seller pay for it, right?
15:09
SPEAKER_00: Or as closing costs, or as the seller paid concession.
15:13
SPEAKER_00: There's so many different ways to word it, it's it's semantics.
15:16
SPEAKER_00: But what you need to know is this is when you now have to have a buyer representation agreement, which for some of you, that's just the way you've been doing business forever.
15:27
SPEAKER_00: In Utah, where I'm at, for 14 years, I was taught from the beginning to use a buyer broker agreement.
15:33
SPEAKER_00: It's it was required by my original brokerage.
15:35
SPEAKER_00: It's I think it's required by every brokerage in Utah, but I mean, maybe not everyone, but that's just been the way you do it.
15:43
SPEAKER_00: You have a buyer broker agreement.
15:44
SPEAKER_00: So I was taught from the beginning to do that.
15:46
SPEAKER_00: And that's best for us as agents, it's best for the consumer because it's transparent.
15:51
SPEAKER_00: Everyone knows what their role is, it's very clear up front what the what the compensation is and who pays it and in which situations, which scenarios.
16:00
SPEAKER_00: So if you're not used to that, it is going to help you.
16:04
SPEAKER_00: It's a good thing.
16:05
SPEAKER_00: So now when you go to meet with a potential buyer, if they're like, hey, we need we want your help to buy a house, and you're like, okay, cool.
16:11
SPEAKER_00: Here's what I offer, here's my packages, here's what here's the compensation that I asked for, blah, blah, blah.
16:16
SPEAKER_00: And if they're like, no, you know, we're not going to sign that, well, then, okay, then they don't get you as their agent now, do they?
16:24
SPEAKER_00: This is not hard.
16:26
SPEAKER_00: They just don't get you as their agent.
16:28
SPEAKER_00: Right?
16:29
SPEAKER_00: You don't work with someone like that.
16:31
SPEAKER_00: Imagine if you are selling hamburgers, not cheeseburgers.
16:35
SPEAKER_00: Because why the hell would you just sell a regular hamburger?
16:37
SPEAKER_00: You're selling cheeseburgers, and you have a customer come up and they're like, I'd like 10 of those, please.
16:42
SPEAKER_00: And you're like, okay.
16:42
SPEAKER_00: They were very fat, right?
16:44
SPEAKER_00: They wanted 10 cheeseburgers.
16:45
SPEAKER_00: Uh so this fat person orders 10, well, I gotta, I gotta, I gotta chill.
16:49
SPEAKER_00: They order these 10 cheeseburgers, and you're like, okay, that'll be, you know,$40 or whatever it is.
16:54
SPEAKER_00: Uh, and they're like, oh, nope, sorry.
16:56
SPEAKER_00: Would you still give them, would you still make their food and give them the food?
17:00
SPEAKER_00: Of course not.
17:01
SPEAKER_00: You're gonna tell them to kick rocks.
17:04
SPEAKER_00: That's first off, we've always been able to do that as agents.
17:08
SPEAKER_00: But if you if everyone has this level playing field now where you must have a buyer representation agreement, if you have a buyer unwilling to sign it, they don't get to work with you.
17:19
SPEAKER_00: They don't get an agent.
17:21
SPEAKER_00: Now do they?
17:22
SPEAKER_00: So, and that's their choice, fine.
17:24
SPEAKER_00: Let them go their way.
17:27
SPEAKER_00: Now you can go work with someone else.
17:30
SPEAKER_00: This is such a good thing for for consumers, for us as agents, for everybody.
17:36
SPEAKER_00: You've got to, if you're freaking out that some people won't want to work with you, you're you're rooted in scarcity right now.
17:42
SPEAKER_00: I want you to realize you have the scarce thinking.
17:45
SPEAKER_00: You're not thinking abundantly, because if you were, you'd realize there are plenty of clients out there, plenty of potential clients, plenty of potential buyers, and you're you're valuable, right?
17:58
SPEAKER_00: Your services, the work that you do, the effort that you put in is valuable.
18:04
SPEAKER_00: That's worth paying for.
18:05
SPEAKER_00: You deserve to be compensated for your services, for your work, just like literally any other business, just like the cheeseburger vendor who got the order of 10 cheeseburgers from a fatty and the fatty decided not to pay.
18:18
SPEAKER_00: Well, you wouldn't give them the freaking cheeseburgers.
18:20
SPEAKER_00: Well, in this case, there I'm gonna get myself in trouble with this one.
18:26
SPEAKER_00: The buyer doesn't get your services if they don't sign your agreement, and or they don't agree to whatever compensation you ask for.
18:34
SPEAKER_00: That's fine.
18:36
SPEAKER_00: It's fine.
18:39
SPEAKER_00: Work with somebody else.
18:41
SPEAKER_00: I'm telling you this out of love because I've been there, I've been this agent, I've been in this situation, so I know I know what it's like.
18:48
SPEAKER_00: If you're in a situation where you're like, I need everyone, I can't afford anyone to say no, I can't afford anyone to not hire me, it's because you don't have enough going on in your business.
19:00
SPEAKER_00: You're not talking to enough people, you're not marketing well enough, you're not marketing enough, you're not putting out, you're not having enough conversations.
19:10
SPEAKER_00: People aren't seeing you enough.
19:12
SPEAKER_00: You need to be having more conversations, you need to be commenting more on social, you need to be posting more on social, you need to be door knocking, cold calling, emails, uh literally anything and everything that's ever worked for agents, you need to be doing more.
19:26
SPEAKER_00: I'm not saying you need to do all of them, right?
19:28
SPEAKER_00: You need to be you need to pick and choose based on your strengths, your weaknesses, your plan, all of that, right?
19:34
SPEAKER_00: I'm just, for example, when you have somebody say no, and you can tell right there that they don't value you, they don't really see the value, you're saving yourself so much heartache and trouble and negative energy and just time suck and bullshit that even if you don't get that client right then and there, yes, you're not working with them, but you're saving you now have time to potentially work with two or three or four others that are not high maintenance, that do value you, that will trust you, that will not push back on every single freaking thing that you tell them or advise them.
20:12
SPEAKER_00: I talked to one of our agents today on one of the masterminds I was running within within um my coaching group.
20:18
SPEAKER_00: And she said that for the first time in her four-year career, she had to fire a client.
20:22
SPEAKER_00: And she felt amazing about it because that client was such a drain.
20:28
SPEAKER_00: And every time this agent would recommend something or show based on data, this, that, or the other, the client would push back and say, Nope, you're wrong, or nope, we're gonna do it a different way.
20:39
SPEAKER_00: And so when she finally let that client go, she's happier, her mood's improved, she's getting more clients, she's having more conversations.
20:49
SPEAKER_00: This I didn't intend for this to turn into a lesson on why sometimes the best client is the one you never work with.
20:56
SPEAKER_00: It's one of the best things my mentor ever taught me in the beginning.
20:59
SPEAKER_00: Sometimes the best client is the one you never work with.
21:03
SPEAKER_00: But in the context of the buyer broker agreements, that's now mandatory, at least most in most places.
21:10
SPEAKER_00: I mean, if Colorado is gonna say no, you don't need one, uh, then you've got to follow that.
21:14
SPEAKER_00: So stay too, if you're in Colorado, listen to what the state of Colorado is telling you.
21:18
SPEAKER_00: But here in Utah and in most other places I'm familiar with, you're gonna be doing buyer broker agreements regardless with every client that's just mandatory.
21:27
SPEAKER_00: So if they're not willing to sign it, they don't get they don't get you.
21:33
SPEAKER_00: I want you to flip it in your head.
21:36
SPEAKER_00: You may be thinking, well, I don't get a client, you know.
21:39
SPEAKER_00: Well, that sucks because that means that's one less deal.
21:42
SPEAKER_00: Well, would it ever have turned into a deal?
21:45
SPEAKER_00: Would they ever have actually bought something, or would they have fired you three weeks from now because they don't trust you?
21:48
SPEAKER_00: They don't think that you're worth anything.
21:50
SPEAKER_00: They would have gone to somebody else that offered them a thousand dollar rebate or something.
21:54
SPEAKER_00: You know what I mean?
21:56
SPEAKER_00: There's probably never a deal to begin with.
21:59
SPEAKER_00: So Flip it.
22:01
SPEAKER_00: Rather than you don't get them as a client, they don't get you as an agent.
22:05
SPEAKER_00: Sucks for them.
22:06
SPEAKER_00: They don't get you in your services.
22:08
SPEAKER_00: They don't get you in your heart.
22:10
SPEAKER_00: They don't get you and your givea shit.
22:13
SPEAKER_00: Right?
22:14
SPEAKER_00: Your givea shit can now be given to somebody else.
22:17
SPEAKER_00: Can be poured into someone else that deserves it, that wants it, that sees your value and wants your givea shit going to work for them.
22:26
SPEAKER_00: So zoom the hell out.
22:29
SPEAKER_00: Sure.
22:30
SPEAKER_00: There's going to be some confusion out there, especially in the beginning, from consumers.
22:34
SPEAKER_00: Some of them just need some education on how this works.
22:37
SPEAKER_00: Some of them um some of them will still think, uh, I don't need an agent.
22:42
SPEAKER_00: Cool.
22:45
SPEAKER_00: Then they can go over there, right?
22:48
SPEAKER_00: And you just press on and work with the next person.
22:53
SPEAKER_00: I see this as such an opportunity, a good one, a positive one.
22:57
SPEAKER_00: And so if you're worried about the direction of this, if you're worried about certain rules going into effect, if you're if you're worried about this, that, or the other, or whether or not you're gonna be getting paid, understand.
23:09
SPEAKER_00: Either the buyer pays you or the seller pays you.
23:14
SPEAKER_00: And you'll know in the beginning when you first sign the buyer, how it's gonna work.
23:19
SPEAKER_00: What I recommend, this is what I was always taught, and and this is the way that it should be moving forward.
23:25
SPEAKER_00: You say, hey, buyer, here's how it works.
23:27
SPEAKER_00: We have this buyer-broker agreement.
23:29
SPEAKER_00: Uh for my services, I charge X amount, right?
23:32
SPEAKER_00: Let's say it's three.
23:34
SPEAKER_00: I charge three.
23:37
SPEAKER_00: Now, there's a chance that we can get the seller to pay this.
23:42
SPEAKER_00: So what I'm gonna do on your behalf, Mr.
23:44
SPEAKER_00: and Mrs.
23:45
SPEAKER_00: Buyer, is whenever there's a house that you really like, I'm going to ask, are they offering any compensation to the buyer?
23:52
SPEAKER_00: And if so, great.
23:53
SPEAKER_00: Chances are this or a portion of this responsibility, this obligation of yours, will get covered by the seller.
24:00
SPEAKER_00: If they're not offering it, we can ask that they pay for it.
24:04
SPEAKER_00: They can say no, but we could also take our business elsewhere, right?
24:07
SPEAKER_00: There's so many options here, so much flexibility, and it's fully transparent.
24:11
SPEAKER_00: And if you set those expect set those expectations with your buyer in the beginning, it's going to be fine.
24:17
SPEAKER_00: You're going to have empowered buyers, and empowered buyers are fantastic.
24:22
SPEAKER_00: Buyers that feel trapped, that don't feel like they're in control, they don't have the best experience.
24:28
SPEAKER_00: They don't leave the best reviews, they don't give the best referrals.
24:32
SPEAKER_00: We want empowered clients.
24:35
SPEAKER_00: First off, it's the best, it's the right thing to frickin' do.
24:38
SPEAKER_00: But second, it's good business.
24:40
SPEAKER_00: So zoom out.
24:42
SPEAKER_00: Zoom out from all the social media bullshit.
24:45
SPEAKER_00: Right?
24:46
SPEAKER_00: This is going to work out.
24:47
SPEAKER_00: Pay attention to what your local association and your local MLS is telling you.
24:53
SPEAKER_00: Do that, implement that, and keep moving forward.
24:57
SPEAKER_00: And understand there will always be buyers out there who want to pay you for your services.
25:02
SPEAKER_00: They don't want to do it themselves.
25:04
SPEAKER_00: There's always cheap people that want to do it themselves.
25:09
SPEAKER_00: And there's always people who will pay a premium for someone else who's really freaking good to do it for them.
25:16
SPEAKER_00: That exists everywhere in society with everything, right?
25:20
SPEAKER_00: You could detail your car by yourself, or you could pay someone else who's really good at it to detail your car.
25:25
SPEAKER_00: I choose to pay someone to detail my car because I don't want to take the time.
25:29
SPEAKER_00: And they're better at it anyways.
25:30
SPEAKER_00: And it'll hurt my back.
25:32
SPEAKER_00: I've done that.
25:32
SPEAKER_00: I've done the whole detailing thing.
25:34
SPEAKER_00: That was one of my first jobs back when I was 18, 18, 19.
25:38
SPEAKER_00: I worked at a car wash in the detail bay.
25:41
SPEAKER_00: Oh, I did the detailing thing.
25:43
SPEAKER_00: I think it was like three years.
25:45
SPEAKER_00: I've done the whole thing.
25:46
SPEAKER_00: I could do it myself.
25:47
SPEAKER_00: I know how.
25:48
SPEAKER_00: I even have some of the right waxes to use.
25:51
SPEAKER_00: And like I even have one of those orbital things.
25:53
SPEAKER_00: I still pay someone to do it.
25:55
SPEAKER_00: There will always be people who will pay a professional to do a great job for them.
26:00
SPEAKER_00: Go find those people.
26:02
SPEAKER_00: That's your job.
26:03
SPEAKER_00: And be worth being hired.
26:06
SPEAKER_00: Become an agent who's worth being sought after, being found, and being hired.
26:11
SPEAKER_00: You do that, you're gonna have the best years of your career moving ahead.
26:16
SPEAKER_00: Want to remind you guys if you are building a team, if you are a team leader or want to be, you need to get in the room for our team builder summit October 9th and 10th in downtown Salt Lake City.
26:26
SPEAKER_00: Go to igniteslc.com and get your ticket right away.
26:30
SPEAKER_00: Use code ERL and get 50% off your tickets.
26:34
SPEAKER_00: We only have 60 seats max.
26:37
SPEAKER_00: I think there's less than 50 available now.
26:39
SPEAKER_00: There's like 40 something available now.
26:41
SPEAKER_00: Uh and I think 12 or 13 VIP tickets.
26:45
SPEAKER_00: That's it.
26:45
SPEAKER_00: We only have room for 60.
26:47
SPEAKER_00: It's intimate and small because I don't want this to be this big conference.
26:51
SPEAKER_00: I want it to be a mastermind where the speakers and the other team leader attendees who are there, everyone's learning from each other.
26:58
SPEAKER_00: You have a chance to talk to people in depth, not just like, hey, can I ask you one question?
27:02
SPEAKER_00: Then that's that's all I get.
27:04
SPEAKER_00: No, have conversations with team leaders that have built something much bigger than you.
27:08
SPEAKER_00: If you've never started one, if you're just trying to figure out how to do it, what an amazing opportunity.
27:13
SPEAKER_00: What a perfect opportunity to figure out how to structure it, how to do what lead sources do you use, like all the stuff from the beginning to avoid all those mistakes.
27:23
SPEAKER_00: So you can condense that time.
27:25
SPEAKER_00: I mean, with the right blueprint, 18 to 24 months, and you can have a solid, thriving, profitable real estate team if you have the blueprint.
27:34
SPEAKER_00: Come get the blueprint in Salt Lake City October 9th and 10th.
27:38
SPEAKER_00: Igniteslc.com gets you uh more information and tickets.
27:42
SPEAKER_00: Make sure that you use code ERLI and save yourself 50%.
27:46
SPEAKER_00: I will see you there in Salt Lake.
27:48
SPEAKER_00: Take care, guys.
27:48
SPEAKER_00: Thanks for listening.