Latest / Massive Agent Podcast / How to Win EVERY Listing w/ Sharran Srivatsaa
Transcript
- 0:00SPEAKER_01: This week, you're going to learn how to completely eliminate objections when meeting with sellers in a listing presentation and buyers in your buyer presentation.
- 0:08SPEAKER_01: And you're going to learn from the master himself, the president of Reel, Sharon Shravatsa.
- 0:13SPEAKER_01: Let's go.
- 0:15SPEAKER_00: The Massive Agent Podcast.
- 0:17SPEAKER_00: We lead generation tips and strategies to give you more leads and sell more homes.
- 0:23SPEAKER_03: I love to buy houses.
- 0:24SPEAKER_03: I like to sell houses.
- 0:25SPEAKER_00: It takes brass balls to sell it.
- 0:28SPEAKER_00: Wait a minute.
- 0:29SPEAKER_00: Leads a week.
- 0:31SPEAKER_00: You're a week.
- 0:32SPEAKER_00: I've had better.
- 0:33SPEAKER_00: Better.
- 0:34SPEAKER_00: Oh.
- 0:34SPEAKER_00: Have I got your attention now?
- 0:37SPEAKER_00: Here's your host, Dustin Brome.
- 0:41SPEAKER_01: What is up, guys?
- 0:42SPEAKER_01: Welcome to episode 334 of the Massive Agent Podcast.
- 0:46SPEAKER_01: I'm your host, Dustin Brome, here in Salt Lake City, Utah.
- 0:49SPEAKER_01: And today we have one hell of a guest on.
- 0:52SPEAKER_01: We have Sharon Shravatza.
- 0:54SPEAKER_01: If you don't follow him on Instagram, what are you even doing?
- 0:57SPEAKER_01: You should just delete Instagram immediately.
- 0:59SPEAKER_01: Because Sharon is is he is the you must follow him.
- 1:04SPEAKER_01: Yeah.
- 1:04SPEAKER_01: If you're in real estate, he is a must-follow account, uh, an incredible trainer.
- 1:09SPEAKER_01: He knows sales, he knows the process.
- 1:11SPEAKER_01: He he's he's great with scripting.
- 1:13SPEAKER_01: He's great with uh any if you're trying to get better at being a buyer or a seller, you need to follow Sharon.
- 1:20SPEAKER_01: And he's on the podcast today.
- 1:21SPEAKER_01: He's the president of Real Broker, and uh he's the host of the Business School podcast.
- 1:27SPEAKER_01: He um, fun fact, he just had over 14,000 agents on a Zoom call for four hours the other day, uh, doing a training, his buyer mastery training, which he's gonna be sharing some of that today, uh, which is really awesome.
- 1:42SPEAKER_01: Sharon, before he became the president of Real, he grew a brokerage called Telus Properties by 10x in five years.
- 1:50SPEAKER_01: Okay, he 10x'd a brokerage in five years to 3.4 billion in sales and eventually sold that brokerage to Douglas Elman.
- 1:57SPEAKER_01: He's a former Goldman Sachs and Credit Suisse banker.
- 2:00SPEAKER_01: And when you Google his name, it says internet personality.
- 2:04SPEAKER_01: I added that because I think it's funny.
- 2:06SPEAKER_01: So let's uh let's get Sharron here on the on the show.
- 2:10SPEAKER_01: Um yeah, that was a weird intro.
- 2:13SPEAKER_01: Let me try that again, shall we?
- 2:15SPEAKER_01: Let's bring on Sharon right now.
- 2:17SPEAKER_01: All right, guys, I'm here with Sharon Shravatza, the president of Reel, someone that I look up to tremendously, and I'm super excited to have him on the Massive Agent Podcast.
- 2:26SPEAKER_01: So welcome, my friend, to the Massive Agent Podcast.
- 2:28SPEAKER_01: How are you doing?
- 2:29SPEAKER_01: Dustin, I feel like I have arrived, my friend.
- 2:31SPEAKER_03: Uh, I actually got the invite to being on being on the show.
- 2:35SPEAKER_03: This is fantastic.
- 2:36SPEAKER_03: Thank you for having me.
- 2:36SPEAKER_01: I mean, despite everything you've done in the in the industry, this is your moment.
- 2:40SPEAKER_01: Uh being on my little ragtag show.
- 2:43SPEAKER_01: Uh so welcome.
- 2:45SPEAKER_03: I have to say one thing though, but I don't think a lot of people recognize how how much time and effort and care and passion it takes to produce this.
- 2:53SPEAKER_03: Like you don't have to do this.
- 2:54SPEAKER_03: I don't have to be here, but we planned on doing this together.
- 2:57SPEAKER_03: You show up week in and week out, both getting the right guests, getting your thoughts organized, getting the pre and post-production done, getting the marketing done, getting the word out.
- 3:06SPEAKER_03: And you've made a commitment to this body of work, which I just want to recognize and celebrate you for because you're what 340 some episodes in.
- 3:14SPEAKER_03: I've listened to almost all of them.
- 3:16SPEAKER_03: And um, this takes a lot of work, man.
- 3:18SPEAKER_03: And so, so big, big kudos to you for for creating this and sharing this with the world.
- 3:23SPEAKER_01: Well, Sharans, thank you for saying that.
- 3:24SPEAKER_01: I really appreciate it.
- 3:25SPEAKER_01: It it certainly, you know, it's a commitment.
- 3:28SPEAKER_01: And and um, you know, if there's something I'm most proud of, it's that I I didn't put an end date on doing this podcast.
- 3:34SPEAKER_01: I just decided I'm just gonna do it every Thursday morning, and uh that'll just like I'm just gonna do that.
- 3:41SPEAKER_01: And so, you know, here we're six years later and you know, 300 and something episodes in, and it's it's crazy.
- 3:47SPEAKER_01: Um, it's really taught me what consistency will do.
- 3:50SPEAKER_01: Because in the beginning, it you know, I didn't know if it would lead to much of anything.
- 3:53SPEAKER_01: So, but thank you.
- 3:54SPEAKER_01: I really appreciate the kind words.
- 3:55SPEAKER_01: That's awesome.
- 3:57SPEAKER_01: So, uh Sharon, I want to we could talk for hours.
- 4:02SPEAKER_01: I mean, my God, the other day you just did a a four-hour-long Zoom training, your buyer mastery, which was I mean, what a perfect name.
- 4:10SPEAKER_01: Absolute just a huge masterclass.
- 4:12SPEAKER_01: You had 14,000 plus agents on that training for four hours, and you know this profession so well.
- 4:22SPEAKER_01: Like you, you know sales, you know, persuasion so well, and and so you you do such a great buyer presentation.
- 4:32SPEAKER_01: So let's start with this, and and we'll just we'll just go.
- 4:36SPEAKER_01: What do you see?
- 4:37SPEAKER_01: Uh what what are some of the biggest issues you see with most agents when it comes to meeting with buyers and sellers?
- 4:45SPEAKER_01: Like, how are they screwing up?
- 4:46SPEAKER_01: Like, oh, the the seller's not choosing me, the buyer's not choosing me, they're going with somebody else.
- 4:50SPEAKER_01: What are they missing?
- 4:51SPEAKER_01: What are those biggest things they're missing?
- 4:53SPEAKER_03: Yeah, so the the the hard part, uh, what most agents don't realize is that most of our industry has been built around showing you client acquisition, and it hasn't really talked about anything else.
- 5:05SPEAKER_03: So if you take most coaching programs, and it's not a bad thing, by the way, it's totally okay.
- 5:09SPEAKER_03: Most coaching programs, most mastermind groups, they're all focused on the next big marketing idea.
- 5:15SPEAKER_03: How do I actually get Dustin in front of one more lead?
- 5:19SPEAKER_03: And the crazy part with that is when we have such a front or top of the funnel facing mentality in the world, we get all these opportunities, Dustin, and we don't really convert them well.
- 5:30SPEAKER_03: Because I say all conversion happens in conversation.
- 5:32SPEAKER_03: And the the crazy part, now I think I know why.
- 5:36SPEAKER_03: The reason is all our marketing is visible.
- 5:38SPEAKER_03: So when you do something or I do something, or we see a Byron Lazine do something, we're like, okay, that's cool.
- 5:43SPEAKER_03: I can go take that and adapt it and do something to for myself in some way.
- 5:46SPEAKER_03: Because most of marketing is public-facing, but conversion is not.
- 5:51SPEAKER_03: So the time that we spend with a in a buyer consult or the time that's we spent in a living room is not up for grabs from a public perception perspective.
- 6:00SPEAKER_03: In fact, most agents do that in a very uh singular, alone fashion, and they never get any feedback for it whatsoever.
- 6:07SPEAKER_03: They have no, no one has ever been given any feedback on how they actually do a presentation because no one else has been in that living room or in that boardroom or in that buyer consult with them.
- 6:16SPEAKER_03: And because of that, they're never able to get better.
- 6:18SPEAKER_03: And that is the most important part.
- 6:20SPEAKER_03: So I'll give you one crazy example.
- 6:22SPEAKER_03: So three days ago, this was uh three days ago, I was in a$11.5 million listing appointment here in Laguna Beach, California.
- 6:28SPEAKER_03: So uh whenever there's a big appointment, an agent will call me and say, hey man, are you open to going on this with me?
- 6:33SPEAKER_03: I don't get any economics or anything.
- 6:35SPEAKER_03: I go to support the agent to go win this listing.
- 6:38SPEAKER_03: And this was kind of like eight, eight doors down from me.
- 6:40SPEAKER_03: So super excited to go.
- 6:41SPEAKER_03: I didn't know the seller.
- 6:42SPEAKER_03: And we were in this appointment, finished the appointment, and we got the listing, which was cool.
- 6:46SPEAKER_03: But the best part is we were in the car.
- 6:49SPEAKER_03: We were for the fourth broker interviewing for this role.
- 6:52SPEAKER_03: We were in the car and the we debriefed the appointment, Dustin.
- 6:56SPEAKER_03: We debriefed kind of what the seller asked, how we answered it, and all of that.
- 7:00SPEAKER_03: And the agent told me that he's like, man, I don't even care whether I got this listing or not.
- 7:06SPEAKER_03: The debrief of the appointment was so much more valuable because no one has had a chance to see me live, right?
- 7:13SPEAKER_03: And I'll tell you the crazy part.
- 7:15SPEAKER_03: Then the second thing that most people don't understand is that um how you sequence an appointment is really interesting because the when we were in this appointment for call it an hour and 20 minutes, we got no objections.
- 7:27SPEAKER_03: And now that may sound weird, but here's the cool part.
- 7:30SPEAKER_03: So the agent who I was with asked me this question.
- 7:32SPEAKER_03: He's like, dude, that's really interesting.
- 7:34SPEAKER_03: The one thing that was strange was we were there for an hour and 20 minutes and we got no objections.
- 7:39SPEAKER_03: And I said, Why do you think so?
- 7:41SPEAKER_03: And he didn't realize that we sequenced it the right way.
- 7:44SPEAKER_03: Because every time I present an idea, I open the loop for the next idea.
- 7:48SPEAKER_03: I know that if I say, hey, here's what we're gonna do in marketing, I know that the client's thinking, well, is he just showing this to me, or is he promising this to me, or is he gonna actually do it?
- 7:58SPEAKER_03: And then I say, Well, here's what we're gonna do for marketing.
- 8:00SPEAKER_03: Let me show you.
- 8:01SPEAKER_03: And I actually show them something live, right?
- 8:03SPEAKER_03: And so here's the craziest part, which I think all your listeners will appreciate.
- 8:07SPEAKER_03: And I'm giving away something that we did in the appointment that I think you will you'll really like.
- 8:12SPEAKER_03: So here's what happened live in the in the appointment.
- 8:15SPEAKER_03: Um, this agent had actually done another appointment, uh, had another listing around the corner for seven and a half million, right?
- 8:22SPEAKER_03: And so in the appointment, I asked, uh, so the client asked us, he says, so so do you guys have active buyers for this listing, which is a very legitimate question that people get asked.
- 8:33SPEAKER_03: And I said, Well, so I looked at the agent, I was like, hey, don't you have a seven and a half, eight million dollar listing around the corner?
- 8:37SPEAKER_03: He says, Yes.
- 8:38SPEAKER_03: I said, uh, how many open houses have you done?
- 8:40SPEAKER_03: He says, four in the last four weeks.
- 8:41SPEAKER_03: I said, Great.
- 8:42SPEAKER_03: Do you have your open house registry?
- 8:44SPEAKER_03: So he pulls out this open house registry and hands it to me.
- 8:47SPEAKER_03: So I took one of those registries, I hand it to the client, and I say, these were the these were the four open house registry sheets.
- 8:53SPEAKER_03: Pick a name on on this registry.
- 8:55SPEAKER_03: So he picks a name, call it Dustin Bro, right?
- 8:57SPEAKER_03: I said, so literally, Dustin, I take my phone out and I tell him, Kardashian style, I say, just tell me this, tell me Dustin's number.
- 9:04SPEAKER_03: So I punch in Dustin's, I punch in your number, put it on speaker, and I call the the potential buyer live.
- 9:11SPEAKER_03: And I say, um, hi, this is Sharon Trivatya with Rio right here in Laguna Beach.
- 9:15SPEAKER_03: Uh, I'm calling because you had you visited us at an open house on 123 Banana Street, right around the corner with the one with the big red door.
- 9:23SPEAKER_03: She's like, yeah, yeah.
- 9:24SPEAKER_03: Uh I said, Well, we're actually at a meeting with one of our other clients and preparing the home to come to market.
- 9:30SPEAKER_03: It's a little bit bigger home.
- 9:32SPEAKER_03: It's got views.
- 9:32SPEAKER_03: And I wanted to just check in if the$10 to$12 million price range is the right fit for you and if we can give you a sneak peek into this before it goes live.
- 9:40SPEAKER_03: And so the buyer, the who the client picked, essentially tells me, like, oh yeah, I'd love to see it.
- 9:45SPEAKER_03: Are you available this weekend?
- 9:47SPEAKER_03: So now the seller is like, wait a minute.
- 9:50SPEAKER_03: Sharon just called a potential buyer from my living room during the appointment live.
- 9:56SPEAKER_03: Right?
- 9:57SPEAKER_03: And so what we often do, and you you talked about kind of this big answer, which is we as real estate agents, generally speaking, promise we will do a lot of things.
- 10:06SPEAKER_03: We say, hey, when you list with me, I will do X.
- 10:08SPEAKER_03: When you work with me, I will do Y.
- 10:10SPEAKER_03: I will do all of this for you, given that you will do, you will work with me.
- 10:14SPEAKER_03: In effect, what we did here was we showed proof over promise.
- 10:18SPEAKER_03: If you can show proof now, that is the value.
- 10:20SPEAKER_03: We always talk about adding value in an appointment, but nobody understands what that is.
- 10:24SPEAKER_03: Adding value is showing proof.
- 10:25SPEAKER_03: When you can show the proof with your skill, with your marketing, with your artifacts, with things that you can show and touch and feel, then the client's like, wait a minute, that's awesome.
- 10:33SPEAKER_03: Now I believe Dustin.
- 10:34SPEAKER_03: Now I believe Sharon.
- 10:36SPEAKER_03: Normally everyone else is just spewing facts at them, but they don't believe you.
- 10:39SPEAKER_03: So my biggest thing is how do I get somebody in an appointment to show the flow, the demo of things, so they can really truly believe the proof.
- 10:50SPEAKER_03: That's incredible.
- 10:51SPEAKER_01: And and so, like, I'm putting myself in the like I'm thinking of myself as the seller.
- 10:56SPEAKER_01: If if you were demonstrating what you were telling me you're gonna do right in front of me, first off, they're going to remember you.
- 11:03SPEAKER_01: Like you're gonna stick out.
- 11:04SPEAKER_01: If they're interviewing four or five different agents, they're gonna remember you.
- 11:09SPEAKER_01: Right?
- 11:10SPEAKER_01: And and how uh if they remember you because you stick out they're they're not gonna remember anybody else.
- 11:19SPEAKER_01: So uh okay.
- 11:21SPEAKER_01: I mean that that impressed me just hearing that.
- 11:23SPEAKER_01: Okay, so uh, and not to mention that you go to listing presentations with with agents.
- 11:27SPEAKER_01: That's that's also fantastic.
- 11:29SPEAKER_03: Um well let's let's talk about that for a second, right?
- 11:32SPEAKER_03: I think that is the big difference between, and I don't mean this in a positive or negative way, I just think that we have chosen to do something differently.
- 11:39SPEAKER_03: I believe that if I can't be live in an investor conversation, live with a buyer, live with the seller, how would I know what they are asking, what the objections are, what they're thinking is, and if I don't know what those are, then how do I know what to prioritize for in the tools and the services and the things that we build at the brokerage level?
- 12:01SPEAKER_03: And so the I think the big issue, Dustin, is there's this big vast disconnect between the ivory tower of where the the these leaders are, and it doesn't matter if you've sold real estate 30 years ago, it does not matter.
- 12:12SPEAKER_03: What has happened in the last four months has dramatically changed how the consumer works.
- 12:17SPEAKER_03: And so the reason I I don't want to wake up in the morning and and spend three hours at a listing appointment, but if I don't do it, I don't have context to do my role, my supporting role better.
- 12:27SPEAKER_03: And so I I work hard to put myself in those in that position so I can learn more, so I can be more useful.
- 12:33SPEAKER_01: Dude, I I I'm just I'm very impressed, Sharon, because you you're absolutely right.
- 12:38SPEAKER_01: There's a difference in leadership.
- 12:39SPEAKER_01: You can tell the people that are actually leading from experience, like current up-to-date experience, or those that are leading from theory, right?
- 12:50SPEAKER_01: Like, hey, we're gonna build these things because I think I think agents want it.
- 12:54SPEAKER_01: I think this will be helpful.
- 12:55SPEAKER_01: Um, this this used to be helpful, and I think it's very apparent, you know, who the different leaders are.
- 13:02SPEAKER_01: And um, you know, so so that's that's very refreshing.
- 13:04SPEAKER_01: And I think the industry needs a lot more of that.
- 13:07SPEAKER_01: Um I imagine uh like I know I know you, you're not just sitting around playing video games all day.
- 13:12SPEAKER_01: You're busy as shit.
- 13:14SPEAKER_01: And uh, and and the fact that you're taking time to do that speaks volumes, but now I understand why, and it shows in you know, in what the company builds and what the company doesn't build, right?
- 13:26SPEAKER_01: What what you don't that that's also very telling to me.
- 13:31SPEAKER_01: Um what a company says no to is also very telling about the focus or lack thereof of the leadership.
- 13:40SPEAKER_01: So, anyways, that's just some feedback from from me to you um based on what you're telling me.
- 13:45SPEAKER_01: So let's jump back into this conversation, right?
- 13:49SPEAKER_01: Of the listing presentation.
- 13:52SPEAKER_01: Let's go to the buyer side.
- 13:54SPEAKER_01: How do you demonstrate to a buyer what you're going to do for them?
- 13:59SPEAKER_01: Right.
- 14:00SPEAKER_01: I know you did a four-hour class on this, but what are some of those ways that in a buyer presentation you can make that same impact and really wow the buyer?
- 14:09SPEAKER_03: Yeah.
- 14:09SPEAKER_03: So the first thing is uh a lot of agents are now thinking about, hey, how do I get this buy a broker agreement signed?
- 14:17SPEAKER_03: And Sharon, Dustin, can you give me this magic script that gets me this buy broker agreement sign?
- 14:22SPEAKER_03: So just for everybody, spoiler alert, there is no magic script, right?
- 14:26SPEAKER_03: Because the the if anyone teaches you that there is a magic script to get a biobroker agreement sign, they're lying.
- 14:31SPEAKER_03: And the reason is this.
- 14:32SPEAKER_03: The reason is if a if a magical script could have gotten a buy broker agreement sign, we would not be going through all of this.
- 14:38SPEAKER_03: And secondarily, most clients go in and out in their thinking.
- 14:42SPEAKER_03: So that means that that for that 14 seconds, when Dustin provides the absolute magical script, the client perfectly understood and was listening.
- 14:50SPEAKER_03: That never happens, right?
- 14:52SPEAKER_03: So the I'll give you three kind of big pieces to this, Dustin.
- 14:55SPEAKER_03: Number one is the way to frame the buy broker agreement and getting the relationship underway is a series of things.
- 15:03SPEAKER_03: And the series of things reduces friction.
- 15:06SPEAKER_03: So here's the first of the series of things.
- 15:08SPEAKER_03: The first of the series of things is explaining to a client this.
- 15:11SPEAKER_03: Hey, Mr.
- 15:11SPEAKER_03: and Mrs.
- 15:12SPEAKER_03: Client, Mr.
- 15:12SPEAKER_03: and Mrs.
- 15:13SPEAKER_03: Buyer, uh, there are three agreements that govern a real estate transaction.
- 15:16SPEAKER_03: Let me walk you through it.
- 15:18SPEAKER_03: The first agreement is between the seller and the listing agent.
- 15:22SPEAKER_03: This provides the seller and the listing agent, the fiduciary responsibility for the listing agent to go ahead and market the property and bring it to market.
- 15:28SPEAKER_03: The second agreement is what we call the buyer representation agreement.
- 15:31SPEAKER_03: That is the agreement between you, the home buyer, and me, the agent.
- 15:34SPEAKER_03: You put me to work to be your legal representative to advocate for you and be your fiduciary in helping you get the home that you want at a price that you want, at the terms that you want.
- 15:42SPEAKER_03: And the third is what I call a is what we call a purchase agreement.
- 15:45SPEAKER_03: The purchase agreement actually brings this buyer and the seller together on the terms that they agree upon.
- 15:49SPEAKER_03: Now, Mr.
- 15:49SPEAKER_03: Mrs.
- 15:49SPEAKER_03: Klein, there are other agreements here, but these three agreements govern a real estate transaction.
- 15:53SPEAKER_03: Now, when I say that, right, what I do is I already introduced the buyer representation agreement up front.
- 15:59SPEAKER_03: So when I reference it later, it's not something new that I'm bringing in that I'm trying to slide in and get them to sign.
- 16:04SPEAKER_03: So that's kind of number one, right?
- 16:06SPEAKER_03: The second is most buyers believe that they can only buy a home that has a sign in the yard.
- 16:12SPEAKER_03: That is a big problem.
- 16:14SPEAKER_03: And we all know that that is not true because all that the buyers believe is they come to the market today and they see all the homes that are available today and that they recently came to market.
- 16:22SPEAKER_03: That's all they see.
- 16:23SPEAKER_03: They don't realize that tomorrow a bunch of new homes are coming.
- 16:25SPEAKER_03: They don't realize there's probably a gut of inventory, they don't realize there's a there's a bunch of coming soons, they don't realize they're FSBOS, they don't realize they're expired, they don't realize they're conditional buyers and conditional sellers, they don't realize any of them.
- 16:35SPEAKER_03: And so if we can show that, hey, Mr.
- 16:39SPEAKER_03: Mrs.
- 16:40SPEAKER_03: Buyer, only less than 1% of total available homes in this market are potentially even available for sale right now.
- 16:46SPEAKER_03: It is my job to figure out what the passive inventory is.
- 16:48SPEAKER_03: Now the client is like, wait a minute, Dustin has access to things that I don't have access to.
- 16:53SPEAKER_03: That's freaking amazing.
- 16:55SPEAKER_03: So now that's the second level of reducing a friction overall.
- 16:58SPEAKER_03: The third is most people don't go through the process of actually showing a home buyer kind of in a linear timeline how to buy a home, right?
- 17:08SPEAKER_03: And as soon as you show somebody, hey, here's a 10-step process to buying a home, we're on step number two of searching for homes right now.
- 17:14SPEAKER_03: They now know that they are in your process and you know how to do this 10-step process, which again reduces stress overall.
- 17:21SPEAKER_03: But fourth and most importantly, is this when a client what they what they're worried about is they're worried about buyer's remorse.
- 17:28SPEAKER_03: They're worried about saying yes to something and then thinking, oh my gosh, like as soon as I say yes to this, do I have to buy it?
- 17:34SPEAKER_03: And that's why at the end we say, hey, Mr.
- 17:35SPEAKER_03: Mrs.
- 17:36SPEAKER_03: Client, we have something called the three outs.
- 17:38SPEAKER_03: There we can actually contractually negotiate either our way into a better deal for us, or we can walk away and this is all contractual.
- 17:46SPEAKER_03: Let me show you how I can do it with the three contingency periods, et cetera.
- 17:49SPEAKER_03: Now, when you take somebody through all of that, they keep reducing friction.
- 17:53SPEAKER_03: And that's at the end, all I ask is this.
- 17:55SPEAKER_03: I say, uh, Mr.
- 17:56SPEAKER_03: Mrs.
- 17:57SPEAKER_03: Klein, I'm assuming that if we introduce you to a property that you love, you are gonna have no problem working with us to buy it.
- 18:05SPEAKER_03: Now, when I say that, right, all I'm saying is, hey, if I bring you something that we've gone through all of this, I'm assuming you're cool working with us.
- 18:13SPEAKER_03: And once they say yes, that's called a moral contract.
- 18:15SPEAKER_03: They are going to be consistent and congruent saying, yes, I'm gonna do this.
- 18:18SPEAKER_03: That further reduces friction.
- 18:20SPEAKER_03: Then when I actually introduce the buyer broker agreement, they've already been introduced to it when I talked about the three agreements.
- 18:25SPEAKER_03: So now nothing seems new.
- 18:27SPEAKER_03: So all these scripts on how to get this magical buyer broker agreement done saying, hey, I only work with buyers exclusively.
- 18:33SPEAKER_03: If you don't work, screw off.
- 18:34SPEAKER_03: Like you can't do that.
- 18:35SPEAKER_03: That drives sales resistance, right?
- 18:37SPEAKER_03: So our job is to consistently consistently reduce friction for buyers while we show them a good process, because good process alone drives good results.
- 18:46SPEAKER_03: So the it's no different, Dustin, than on a listing appointment.
- 18:50SPEAKER_03: There's no magic script to get a listing signed.
- 18:52SPEAKER_03: We have to demonstrate value through the process.
- 18:54SPEAKER_03: It's the same exact thing on the buyer side, but we've never had to do this.
- 18:58SPEAKER_03: And so that's why doing this over and over, when people realize this, uh it gets easier because now you know that if you can take somebody through a process, the chances of you getting it done are much higher.
- 19:10SPEAKER_03: And what people think that is they think they want to get the buyer broker agreement signed.
- 19:14SPEAKER_03: That is not the answer.
- 19:14SPEAKER_03: What you want is you want to create a client for life.
- 19:16SPEAKER_03: The client needs to be so impressed with you that signing the agreement is a no-brainer.
- 19:22SPEAKER_03: They've got to like go home, go to their friends and say, man, I talked to this Dustin guy, freaking blew my mind.
- 19:27SPEAKER_03: That's what they need to say.
- 19:28SPEAKER_03: If we don't do that, then we have lost.
- 19:31SPEAKER_03: And I think that I'm what I the reason I did that four-hour presentation was trying to get people to understand that you want to have a presentation that generates a client for life, not a presentation that gets a bi-broker agreement signed.
- 19:43SPEAKER_01: What I love most about that is uh so there's all these classes and trainings and and like you know, objection handling.
- 19:49SPEAKER_01: And like you pull up on YouTube, there's all these objection handlers.
- 19:52SPEAKER_01: You're eliminating objections, right?
- 19:55SPEAKER_01: Through this process, you're eliminating them in the first place by future pacing, by um, you know, but by by just showing them what to expect next.
- 20:05SPEAKER_01: And uh it so then there are no objections, and and I love that.
- 20:09SPEAKER_01: Uh absolutely love that.
- 20:10SPEAKER_01: So I'm curious, like you've done a lot in your career, right?
- 20:13SPEAKER_01: You you were with Goldman Sachs, you were with Credit Suisse, you were uh investment banker, is that right?
- 20:18SPEAKER_01: Yeah.
- 20:19SPEAKER_01: So and then you built this brokerage.
- 20:22SPEAKER_01: Like when did you really start to develop these skills?
- 20:28SPEAKER_01: Because I can tell these are yours.
- 20:30SPEAKER_01: Like I'm sure you I'm sure you went to trainings and all that stuff, but I can tell that you've lived this with the way that you teach it.
- 20:37SPEAKER_01: So when did that really become like when did you embody this?
- 20:43SPEAKER_03: Yeah.
- 20:43SPEAKER_03: Um, so I'll give you uh thank you for asking.
- 20:45SPEAKER_03: Two, I'll give you two kind of stories.
- 20:47SPEAKER_03: Story number one is when uh I had 37 one-on-one interviews to get the job at Goldman Sachs.
- 20:53SPEAKER_03: And so probably the best, the hardest firm to ever get a role with.
- 20:57SPEAKER_03: And even though this was post-MBA, so even after getting the job, uh, we went through seven and a half months of training.
- 21:04SPEAKER_03: So they the crazy part isn't they pay you for seven and a half months to train.
- 21:09SPEAKER_03: And so I was in New York City for seven and a half months, and I was assigned a sales coach for that seven and a half months.
- 21:14SPEAKER_03: The it I think each person, there were 32 MBAs in my graduating class, in my class at Goldman, and it is said that Goldman spent a million dollars on every one of us for that seven and a half months.
- 21:26SPEAKER_03: So I got a million dollar training.
- 21:28SPEAKER_03: And to the I'll give you the craziest part.
- 21:31SPEAKER_03: Uh, we were calling on large companies, like you're talking calling the CEO or the COO or the president of GE or General Dynamics.
- 21:39SPEAKER_03: So you're calling on these big, big, large companies.
- 21:42SPEAKER_03: And Goldman doesn't want their name tarnished.
- 21:44SPEAKER_03: So there, so the I remember this.
- 21:46SPEAKER_03: Uh so the managing partner Goldman was standing in front of the room and he says, Hey, so uh, how many of you have birthdays in June?
- 21:52SPEAKER_03: And so I put my hand up.
- 21:54SPEAKER_03: He goes, Yeah, Sean, you're up first.
- 21:56SPEAKER_03: I'm like, what is he gonna make me do?
- 21:57SPEAKER_03: So I'm I'm in front of the classroom.
- 22:00SPEAKER_03: And he has me put on a headset and he hits a button and like this CRM pops up on the screen and he goes, Hey, we've been training for three months.
- 22:08SPEAKER_03: I think you're ready to try calling.
- 22:09SPEAKER_03: So Dustin, I was in front of the classroom, in front of all my peers, making a cold call with my managing partner watching.
- 22:18SPEAKER_03: Like, that is hard, dude.
- 22:20SPEAKER_03: Like that is super hard.
- 22:21SPEAKER_03: And I stumbled my way through that first call and I went home that night.
- 22:25SPEAKER_03: And Dustin, I will tell you this.
- 22:27SPEAKER_03: I stayed up all night and I memorized that script book left, right, and center.
- 22:32SPEAKER_03: Like I knew every single thing in that book.
- 22:34SPEAKER_03: Now, the crazy part was not memorizing the script book.
- 22:36SPEAKER_03: This was the next phase of all of it.
- 22:38SPEAKER_03: And I'll tell you where I learned it.
- 22:40SPEAKER_03: I wrote this thing down called the learning dogma.
- 22:42SPEAKER_03: And the learning dogma is when you listen to something, you get to learn it once.
- 22:46SPEAKER_03: When you teach something, you get to learn it twice.
- 22:50SPEAKER_03: But when you put a framework around something, you get to learn it forever.
- 22:54SPEAKER_03: And so for me, I looked at all these sales skills, et cetera.
- 22:57SPEAKER_03: And for me, I just wanted to put a framework to everything.
- 22:59SPEAKER_03: So I'll actually share a simple framework with you.
- 23:02SPEAKER_03: Whenever someone gets an objection, they struggle because they're like, man, I don't know exactly what to say.
- 23:07SPEAKER_03: So the problem is not exactly what to say, the problem is kind of how you say it, right?
- 23:13SPEAKER_03: So if anyone gets an objection, they should be only thinking about two things.
- 23:16SPEAKER_03: How do you de-escalate and reframe?
- 23:18SPEAKER_03: So someone says, uh, Dustin, say you are in a listing appointment and you're talking about pricing and a commission, and then they say, Well, well, Jimmy said he'd do it for one and a half percent.
- 23:26SPEAKER_03: No one says, Well, Jimmy said they would do it for one and a half percent.
- 23:30SPEAKER_03: No, they never say that.
- 23:31SPEAKER_03: They say, Well, well, Jimmy said he'd do it for one and a half percent.
- 23:33SPEAKER_03: So I'm extremely elevated.
- 23:35SPEAKER_03: I I I'm I I'm like I I've got high emotion.
- 23:38SPEAKER_03: So my job and the framework is to de-escalate and then reframe.
- 23:41SPEAKER_03: So I I would soften my voice and say, uh, uh how how do you mean one and a half percent?
- 23:48SPEAKER_03: That's all I say.
- 23:50SPEAKER_03: Because now I have first I don't stutter, but I did it with curiosity.
- 23:54SPEAKER_03: I softened them.
- 23:55SPEAKER_03: So now I have to de-s, I have de-escalated them.
- 23:58SPEAKER_03: Now I want them to explain why Jimmy said he would do it for one and a half percent.
- 24:02SPEAKER_03: So he's gonna say, Well, well, I talked to Jimmy and he said this and he said that.
- 24:05SPEAKER_03: And then, you know, at the end of the day, we would net more money.
- 24:07SPEAKER_03: And uh, it doesn't look like that in your case.
- 24:09SPEAKER_03: Again, I have to de-escalate again.
- 24:10SPEAKER_03: Then I say, Oh, gotcha, gotcha.
- 24:13SPEAKER_03: That's no, that's no problem at all.
- 24:14SPEAKER_03: So, Dustin, what you're saying is you just want me to show you the plan in which it can be fully transparent so you can put more money in your pocket and get you an offer that you want at a price that you want, or the terms that you want.
- 24:27SPEAKER_03: Is that is that accurate?
- 24:28SPEAKER_03: Again, did you see what I did?
- 24:29SPEAKER_03: Like I just de-escalated and my with with the soft, slow voice, I just reframed.
- 24:34SPEAKER_03: Now I put them to say yes to the question I wanted them to say yes to, because I know if they say yes to that, all I have to do is just explain how commissions work.
- 24:43SPEAKER_03: And they're probably just unsure, right?
- 24:45SPEAKER_03: So, from a framework perspective, the learning is this learning dogma.
- 24:48SPEAKER_03: When you listen to something, you get to learn it once.
- 24:50SPEAKER_03: When you teach something, you get to learn it twice.
- 24:52SPEAKER_03: But when you have the framework for, you get to learn it forever.
- 24:54SPEAKER_03: So when someone throws something at me, I know instantly I don't have a script to memorize.
- 24:58SPEAKER_03: I know that Dustin's aggravated, so I just have to de-escalate him and then I have to reframe it, and then I can get back into conversation, right?
- 25:05SPEAKER_03: So a lot of this is just it, the hardest part was going through some sales training, but then coming up with frameworks for everything so that I don't have to memorize any scripts, I can just do everything from a framework framework perspective.
- 25:17SPEAKER_01: Okay, that's incredible.
- 25:18SPEAKER_01: So you you really learned a lot of this early on in your career through great training at from great companies.
- 25:24SPEAKER_01: And then how did you transition into the real estate world?
- 25:28SPEAKER_03: Yeah, so I'll give you the craziest story.
- 25:30SPEAKER_03: So um I was a banker at Goldman, and um my partner and I had uh who was my mentor, he had invested in multiple companies with me.
- 25:38SPEAKER_03: We were real estate investors together, and we had invested in a small real estate company in Beverly Hills, California.
- 25:45SPEAKER_03: There was probably one office and like 15 agents at that time, and it was a small minority investment.
- 25:50SPEAKER_03: And I got, you know, annual financial statements.
- 25:53SPEAKER_03: So I got this financial statement after one year of being an investor, and I looked at it, and something kind of looked, didn't look right.
- 25:58SPEAKER_03: It's not hard, it just didn't look right.
- 26:00SPEAKER_03: So I called the CPA and I'm like, hey, this stuff doesn't look right.
- 26:03SPEAKER_03: You know, can you help me with this?
- 26:05SPEAKER_03: And he walked me through it and he's and I said, Well, I still don't like it.
- 26:07SPEAKER_03: It it's something seems fishy.
- 26:09SPEAKER_03: Well, we found out the then founder of the company was embezzling from the company, and so which is I mean, if you can't bury your like embezzlement in a one-page PL, like you got to do better.
- 26:21SPEAKER_03: Like, this is it, it's not hard to, you know, it's not like it's a complex company.
- 26:25SPEAKER_03: So um I took a leave of absence from my investment banking role.
- 26:29SPEAKER_03: I flew out to California and we bought this bought the founder out, and I took over as interim chief to run the business.
- 26:36SPEAKER_03: And the entire goal was to find another CEO at that time.
- 26:40SPEAKER_03: That was the entire goal.
- 26:41SPEAKER_03: Well, we had one office and you know, roughly 25-30 agents in Beverly Hills.
- 26:47SPEAKER_03: And uh, I feel really embarrassed telling you the story, but I will because I was doing a spreadsheet for um for the board, and we were trying to hire a CEO.
- 26:58SPEAKER_03: So we're we were roughly doing 30, 40-ish million in sales.
- 27:01SPEAKER_03: Maybe if you add it all up, maybe we'll do 300 million over the first kind of first couple of years.
- 27:06SPEAKER_03: And by mistake, this is I feel like embarrassed, I've made it 3 billion on the spreadsheet.
- 27:11SPEAKER_03: I had an extra zero.
- 27:12SPEAKER_03: Well, when I did the extra zero, the entire PL looked amazing.
- 27:16SPEAKER_03: And I was like, wait a minute.
- 27:18SPEAKER_03: If this is what it could be, I may want to run this.
- 27:22SPEAKER_03: So I pitched to the board that hey, I have a plan on building and growing this business.
- 27:27SPEAKER_03: I know nothing about like actual servicing and you know, servicing a real estate client, but I can learn it.
- 27:33SPEAKER_03: I know most of this.
- 27:34SPEAKER_03: But you have to agree with me on a five five-year plan because after five years, we lose our timing around this.
- 27:40SPEAKER_03: So they said, hey, if you want to do it, go ahead and do it, but you have to buy in.
- 27:43SPEAKER_03: And I didn't have a lot of money at that point.
- 27:45SPEAKER_03: I reverse mortgaged my house to buy a majority stake.
- 27:49SPEAKER_03: Me and my partner did.
- 27:50SPEAKER_03: My wife and I still struggle with that conversation because I did not tell her that I was doing that.
- 27:55SPEAKER_03: And I believed in this so much.
- 27:57SPEAKER_03: Um, worked for 18 months for no no comp at all, grew the business from one office and 30 ish agents to 22 offices, 700 agents, and then sold the business to Douglas Sellman.
- 28:08SPEAKER_03: That was that was the that realizing that I could do that or we could do that was pretty amazing.
- 28:14SPEAKER_03: And we got some the market was decent and all of that, but we built something from nothing.
- 28:18SPEAKER_03: And um, that was a super cool experience.
- 28:21SPEAKER_01: So, Sharon, that's uh, you know, that's TELUS properties, right?
- 28:24SPEAKER_01: And you're known for this big exit.
- 28:26SPEAKER_01: So you hit when you when you fudged um the the PLs and added an extra zero, you actually hit those numbers, right?
- 28:33SPEAKER_01: Didn't you end with like three and a half billion in sales?
- 28:36SPEAKER_03: Yeah, we did we did three and a half billion close, five billion in um in rook in run rate with less than kind of less than 700 agents.
- 28:44SPEAKER_03: So that's a that's a fairly large number.
- 28:46SPEAKER_03: And we were in the traditional model, so we had left like 23% uh retained company dollar.
- 28:52SPEAKER_03: So it was a it and Dougas Ellman wanted a California footprint, so they were able to turn on an entire California footprint overnight by rebranding us.
- 29:01SPEAKER_01: That's incredible.
- 29:02SPEAKER_01: So, what are some of the things you did at that at that brokerage to grow it so fast?
- 29:08SPEAKER_03: Um it's gonna seem basic when I tell you, but the entire focus of the business was to be a listing-centric company.
- 29:17SPEAKER_03: And thus, in every single sales meeting, every single office meeting, every single piece of communication that I wrote was all about how can all of us become insanely amazing at our listing presentation.
- 29:29SPEAKER_03: So we would start the meeting with, all right, so we're gonna do, we're gonna role-play listing presentation.
- 29:34SPEAKER_03: That was a sales meeting.
- 29:35SPEAKER_03: There was no cut co knives, there was no like uh, you know, home warranty speaking at the meeting, there was no like a legal contract review.
- 29:42SPEAKER_03: It every single part of the meeting was how can we get every single agent so dialed in on their skill so that when the skill is up, they walk into every single appointment and crush it every time.
- 29:52SPEAKER_03: We we were one of the only firms that had a 6535 listing to buy ratio because we had so many agents listing so many properties.
- 30:00SPEAKER_03: And the crazy part because of that, Dustin, what happened is you would see a ton of our signs everywhere because we just had so many more listings than everyone else.
- 30:08SPEAKER_03: And that was a super cool part.
- 30:10SPEAKER_03: So we trained, we trained over and over and over again.
- 30:14SPEAKER_03: It was all, it was all skill.
- 30:17SPEAKER_03: And you could take, you could take an average agent at Telas Properties and you could say, Hey, um, hey, go ahead and explain to me the three pricing strategies.
- 30:24SPEAKER_03: And they'll say, Hey, there's actually three pricing strategies when you explain a listing.
- 30:27SPEAKER_03: There is aspirational pricing.
- 30:28SPEAKER_03: You list a little bit above market and leave room to negotiate.
- 30:31SPEAKER_03: They will tell you everything because they had been drilled in over and over and over because their skill was that good.
- 30:36SPEAKER_03: And so it was all skill that allowed us to win in a really competitive marketplace.
- 30:42SPEAKER_01: Is there so in all the trainings that you're doing now, is there anything you're teaching that's different than what you taught back then, or is it basically the same approach?
- 30:51SPEAKER_03: Uh it's foundationally similar, but the times have changed, right?
- 30:56SPEAKER_03: So we explain, we explain coming soons differently than you know, than the Wild West before.
- 31:01SPEAKER_03: We explain how bioagency works differently than before.
- 31:04SPEAKER_03: But the the key tenants, I'll tell you this, the key tenants are for uh I talk about this concept called show flow demo.
- 31:11SPEAKER_03: And if if all the agents can just absorb this, they will it will change our lives forever.
- 31:16SPEAKER_03: Most of us walk into a living room or in a in a bioconsult and we say the things we were gonna do, we don't show them the things that we're gonna do.
- 31:23SPEAKER_03: You talked about demonstrating that call.
- 31:25SPEAKER_03: That's the demo.
- 31:26SPEAKER_03: So, hey, when you say, hey, I'm gonna do a piece of marketing for you, if you don't show them a piece of marketing that you've done before, they don't believe you.
- 31:33SPEAKER_03: If you say, hey, when a new offer comes in, we do these three things.
- 31:36SPEAKER_03: We review the offer, we call the agent, uh, we then negotiate the offer, and only then we bring it to you.
- 31:41SPEAKER_03: Whatever it may be, that's a flow chart.
- 31:43SPEAKER_03: That those are steps.
- 31:44SPEAKER_03: If you don't show them what the flow chart works like, they don't have confidence.
- 31:47SPEAKER_03: And the demo, if you can actually say, hey, when you come to an open house, we do these four things, and that results in this.
- 31:52SPEAKER_03: The the concepts are similar, but what you do day to day changes because the world has changed.
- 31:58SPEAKER_03: So if folks can understand the show flow demo concept, that's the at the heart of all presentations.
- 32:04SPEAKER_01: I love how you have like a really simple name and process for everything.
- 32:09SPEAKER_01: And but that's telling because that's you know think about this, right?
- 32:12SPEAKER_03: Um, if you don't name it, you don't have it, right?
- 32:15SPEAKER_03: That's the very interesting part because if I don't name something, then I it most people don't realize that.
- 32:22SPEAKER_03: So I'll give you an example.
- 32:23SPEAKER_03: Most people say, Oh, Mr.
- 32:25SPEAKER_03: and Mrs.
- 32:25SPEAKER_03: Client, you know, we're gonna do this amazing open house, we're gonna do this mega open house, we're gonna get a taco truck and we're gonna get a hundred people here, and we're gonna have a line out the door.
- 32:33SPEAKER_03: And all the clients thinking is like, oh my gosh, there's gonna be so much stress.
- 32:36SPEAKER_03: We got random people outside my house.
- 32:37SPEAKER_03: I don't know what we're gonna do.
- 32:38SPEAKER_03: Like, you're gonna have a taco truck in my lawn.
- 32:40SPEAKER_03: So the client freaks out.
- 32:41SPEAKER_03: Instead, I would say, Mr.
- 32:42SPEAKER_03: Mrs.
- 32:42SPEAKER_03: Client, uh, you know what we do?
- 32:43SPEAKER_03: We have a 412 open house formula.
- 32:46SPEAKER_03: Let me actually walk you through.
- 32:47SPEAKER_03: The four is what we do four days prior, the two is what we do for the one is what we do today, and the two is what we do two days after.
- 32:52SPEAKER_03: It's a seven-day process in which we ensure that every single open house is maximized.
- 32:56SPEAKER_03: Can I walk you through it?
- 32:57SPEAKER_03: All I did was literally package what I'm going to do.
- 33:01SPEAKER_03: Now the client's like, wait a minute.
- 33:02SPEAKER_03: Sharana doesn't have a process.
- 33:04SPEAKER_03: They do something before, they do something during, and they do something after.
- 33:07SPEAKER_03: So when I when I give it a name, they get safety associated with it.
- 33:10SPEAKER_03: And that also lets me remember the name and the process so I don't have to memorize anything.
- 33:14SPEAKER_01: Incredible.
- 33:15SPEAKER_01: It um so you're teaching me like all these packaging up what you know how to do is is everything, right?
- 33:24SPEAKER_01: Like there's so many great agents, but the the the as far as like knowing the job, knowing the profession, but the the ones that get the most business are the ones that package it up best, right?
- 33:36SPEAKER_01: Right?
- 33:37SPEAKER_01: It's so you're teaching me right now how I can better package up my offering, and you know, so that's just incredible.
- 33:47SPEAKER_01: Uh speaking of packaging up what we do for a living, I don't know if it's ever been more important.
- 33:53SPEAKER_01: It's always been important, but now with this new focus on buyer's agent commission, uh with you know, compensation for agents in general, the NAR settlement and all of that, there's so much uh, you know, in in real estate Facebook groups, there's so much pessimism and fear from agents about what this means.
- 34:12SPEAKER_01: But do you where why should agents be optimistic about these new rule changes and um you know, potentially more buyers questioning what they're charging for their services?
- 34:26SPEAKER_01: Like where's the room for optimism here?
- 34:28SPEAKER_03: Yeah, I will tell you where I believe a lot of the negativity and the pessimism comes from.
- 34:34SPEAKER_03: And that is actually not because of the agents.
- 34:37SPEAKER_03: That's actually not because of the agents and team members doing their job.
- 34:40SPEAKER_03: That's actually on us.
- 34:42SPEAKER_03: It's on the leadership, it's on the brokers, owners, leaders.
- 34:45SPEAKER_03: And let me tell you why.
- 34:46SPEAKER_03: Uh, when this original many weeks ago, when this original NAR settlement agreement came out, it was 108 pages long.
- 34:53SPEAKER_03: It came out on a Friday.
- 34:55SPEAKER_03: And I sat down and I read it cover to cover two times, 108 pages.
- 35:00SPEAKER_03: Um, and it was really hard to read.
- 35:02SPEAKER_03: Like, I'm not a trained attorney.
- 35:03SPEAKER_03: I I've gone to law school, but I've not a trained attorney.
- 35:06SPEAKER_03: And so I'm like, man, this is a really hard thing to read.
- 35:09SPEAKER_03: I was at the T360 summit with all the leaders were at, and I asked the question how many of you have actually read that 108-page settlement agreement?
- 35:17SPEAKER_03: Please raise your hands.
- 35:17SPEAKER_03: There were 350 people in the room, and seven hands went up.
- 35:20SPEAKER_03: Seven, right?
- 35:22SPEAKER_03: This is the playbook in which the new world is going to work, and the leadership has not taken the time to even throw that PDF into Chat GPT and said, summarize this for me.
- 35:31SPEAKER_03: They've not even done that.
- 35:32SPEAKER_03: And which is which is scary to me because, and I'll tell you what's even scarier, Dustin, is this settlement agreement came out on Friday, and on Monday, I did, I, you know, I read the agreement and put a presentation together and did a live stream for people, and we put the whole thing live on YouTube.
- 35:47SPEAKER_03: I have folks from other companies telling me that they're using my breakdown of it as required watching for their companies.
- 35:55SPEAKER_03: Now that's I thank you.
- 35:57SPEAKER_03: I appreciate that.
- 35:58SPEAKER_03: I'm glad you're giving them decent information.
- 36:00SPEAKER_03: But doesn't the leader that is actually inviting their agents to watch my presentation, shouldn't they think twice that they should actually read this agreement one time?
- 36:09SPEAKER_03: That's what's very interesting to me.
- 36:11SPEAKER_03: And so I think it's on us.
- 36:13SPEAKER_03: And I I honestly don't.
- 36:15SPEAKER_03: We just went through this three years ago.
- 36:17SPEAKER_03: Like during COVID, we had a new set of rules.
- 36:20SPEAKER_03: We had new forms to fill out, new workflows to kind of work with, but none of it directly affected compensation.
- 36:27SPEAKER_03: That's why agents were able to deal with not putting people inside open houses right away.
- 36:31SPEAKER_03: They had some kind of process to do that, they signed the right forms, they had maybe a uh some form, they had new forms and new processes.
- 36:38SPEAKER_03: That's all this is.
- 36:39SPEAKER_03: I talk about this idea of the destination is the same, but the route is different.
- 36:43SPEAKER_03: But the crazy part here, Dustin, is that the folks that have been in the business for a while and who are leaning on their experience that I've always done it this way, this is how we do it here.
- 36:53SPEAKER_03: I don't need to change my world.
- 36:55SPEAKER_03: Those are the people that are gonna get annihilated.
- 36:57SPEAKER_03: Because the small, you don't need to change much, but there is a mechanical change in what we do.
- 37:02SPEAKER_03: So I think that this is an opportunity for deep optimism because the agent that actually spends a little bit of time training is going to have insane separation season because every other person is gonna just wait and say, Oh, I'll figure it out, or I'll blame it on the contract, or I'll blame it on somebody else, or I'll blame it on Zillow, or I'll blame it on the new touring agreement, or I'll blame it on my brokerage.
- 37:24SPEAKER_03: The average agent is going to do that.
- 37:26SPEAKER_03: But the the agent that just takes training into their own hands and saying, All right, we've got this new buyer workflow.
- 37:32SPEAKER_03: I'm just gonna learn how to do this.
- 37:33SPEAKER_03: I'm gonna use my experience as a backbone and then do the new workflow process in the front end, you're gonna win because it's this is not hard.
- 37:40SPEAKER_03: And the nicest part about this, Dustin, let me give you the main reason for optimism, is now the rules are clear for everybody.
- 37:46SPEAKER_03: Everybody has to get a buy broker agreement signed, everybody has to get a listing agreement signed, and there's new rules for everybody in every state and local marketplace that everyone has to learn.
- 37:56SPEAKER_03: And the person who learns it first and implements it first is the person that's gonna see deep separation seasons.
- 38:01SPEAKER_03: So I'm not, I really am not worried.
- 38:03SPEAKER_03: Now, people are saying, well, you know, 10% of the industry is gonna go away.
- 38:06SPEAKER_03: Well, that 10% that's gonna go away, this is just gonna be the straw that breaks a camel's back because they're not gonna be the ones that are easily gonna get another commission check by opening a door.
- 38:14SPEAKER_03: They actually have to learn a skill.
- 38:16SPEAKER_03: And if there's nobody there to teach them the skill, then they'll never learn it.
- 38:19SPEAKER_03: And then by by de facto reasons, they're just gonna leave the industry.
- 38:23SPEAKER_03: So I actually think this is really positive that we, for the first time on the buyer side, we have a very simple, organized playbook that everyone has to play by.
- 38:32SPEAKER_03: And when that happens, now whoever is more skilled and more trained is gonna win.
- 38:36SPEAKER_03: So all I would offer is if an agent can just get a little skilled and a little trained today, separation season's coming and you're gonna win big time.
- 38:44SPEAKER_01: I I love that.
- 38:45SPEAKER_01: Yeah, it's a huge opportunity.
- 38:48SPEAKER_01: And I think this is my opinion.
- 38:51SPEAKER_01: I think that the agents that are freaking out the most, well, agents that are somewhat worried, I think they're gonna be fine because they're gonna take it seriously, right?
- 39:01SPEAKER_01: That they're gonna they're like, okay, there's changes, I need to adapt to them.
- 39:04SPEAKER_01: Let me learn the new rules, let me learn how to operate within them.
- 39:08SPEAKER_01: Those that are really freaking out, like you know, getting kind of ridiculous, they're probably just gonna freak themselves out and go do something else.
- 39:16SPEAKER_01: And that's that's fine, right?
- 39:18SPEAKER_01: Like, how is I think all of this is better for consumers, and when there's more transparency and control uh for consumers, that's a good thing for us agents.
- 39:29SPEAKER_01: Like a more a better informed consumer, that's that's good for us.
- 39:35SPEAKER_01: Like a better informed client who feels like they have control, who feels like uh who does have control, and who who doesn't feel like they're being railroaded into you know one size fits all, they're gonna be happier.
- 39:46SPEAKER_01: They're they're gonna second guess you less.
- 39:48SPEAKER_01: Like I don't see any downside.
- 39:51SPEAKER_01: I don't see any downside for the agent who's willing to do some work and learn some new skills, right?
- 39:58SPEAKER_01: Yeah.
- 39:58SPEAKER_03: Well, well, to say it a little differently.
- 40:00SPEAKER_03: A lot of times, what I like to do is whenever we're presented with something new, I like to just compare it to something that we already have, right?
- 40:07SPEAKER_03: So, so for example, we already have the listing side.
- 40:10SPEAKER_03: Uh uh a seller is already understands that they need a listing agent in most cases to help them traverse this transaction, and they know that they're going to pay a listing agent uh and they know what commissions are generally like and they know they can talk about them, et cetera.
- 40:26SPEAKER_03: They know the process.
- 40:28SPEAKER_03: On the buy side, they just don't know the process yet.
- 40:31SPEAKER_03: And so over the next call it few months, as soon as every single home buyer understands that everyone works the same exact way, then it the conversation for a buyer broker agreement or whatever is going to be the standard.
- 40:43SPEAKER_03: Just like nobody walks.
- 40:45SPEAKER_03: Here's the crazy part.
- 40:46SPEAKER_03: I heard this, this, this, this uh video the other day, Dustin.
- 40:49SPEAKER_03: It said this lady was saying, Well, um, I I only work with buyers who work with me exclusively.
- 40:55SPEAKER_03: And I was like, Stop.
- 40:57SPEAKER_03: Do you walk into a seller and say, I only work with sellers that work with me exclusively?
- 41:01SPEAKER_03: You don't.
- 41:02SPEAKER_03: That is the dumbest thing to say.
- 41:03SPEAKER_03: Because of course that makes sense.
- 41:05SPEAKER_03: But no one says that because the seller understands that.
- 41:09SPEAKER_03: But if you're told a buyer that, they don't understand working with me, ex what working with me exclusively means.
- 41:13SPEAKER_03: It's such industry jargon.
- 41:15SPEAKER_03: That's why we do the moral contract, which is he doesn't uh kind of, I'm curious.
- 41:20SPEAKER_03: If I introduced you to a property that you like, I'm assuming you have no problem working with me to buy it, right?
- 41:26SPEAKER_03: And then you say no, and then it's done because you already said yes.
- 41:29SPEAKER_03: So they know that you're gonna help them with the process, and then you walk them through the buy broker agreement.
- 41:33SPEAKER_03: The we don't every time we say, Oh, I only work with clients exclusively, you're driving sales resistance because now they're like, wait a minute, I don't, I don't know if I really want to be a part of this.
- 41:41SPEAKER_03: But instead, if you're like, hey, I'm here to get you a home that you want at a price that you want, at the terms that you want, they're like, Oh, yeah, I'm totally into that.
- 41:47SPEAKER_03: So small switches in language dramatically elevate the entire experience.
- 41:52SPEAKER_01: I I think that's I think that's right.
- 41:55SPEAKER_01: Um what's crazy about all this is in Utah, so I've been licensed for just over 13 years, and in Utah, we've always done buyer broker agreements.
- 42:04SPEAKER_01: Um, I'm pretty sure it's mandatory.
- 42:07SPEAKER_01: Like I was just trained to use buyer broker agreements from day one.
- 42:11SPEAKER_01: And so the thought of not using one is crazy to me.
- 42:14SPEAKER_01: And I understand in in other places you're just not used to them, but it's such a great thing because you're just getting up front, you're having the conversation.
- 42:23SPEAKER_01: You're it's all laid out in black and white.
- 42:25SPEAKER_01: It's more empowering for the client because the the buyer's like when you teach the the buyer, here's here's what I charge for my services.
- 42:35SPEAKER_01: Let's go get the seller, hopefully, to pay for it, right?
- 42:38SPEAKER_01: And and you have the conversation up front, they're more empowered, they know they know what to expect.
- 42:42SPEAKER_01: It's just better than this.
- 42:44SPEAKER_01: Oh, don't worry, my services are free, the seller pays for them.
- 42:48SPEAKER_01: What are your thoughts on agents that have used that line for years?
- 42:52SPEAKER_01: That, oh, I'm free, the seller pays me.
- 42:56SPEAKER_03: Well, the so first off, the fact that they used to say that is actually it's technically incorrect, right?
- 43:02SPEAKER_03: That's not the case.
- 43:03SPEAKER_03: Someone has to pay for something, and there is the allocation of funds that happened.
- 43:07SPEAKER_03: Now you can argue that a seller pays for it, a buyer pays for it, whatever.
- 43:11SPEAKER_03: But the reason that most people say that is because they don't have enough of a show flow demo to articulate value proposition for somebody to work with them.
- 43:18SPEAKER_03: That's all this is.
- 43:19SPEAKER_03: And since they don't want the commission or or the pricing-based objection, they just try to remove that off the table right away.
- 43:29SPEAKER_03: And now it's just a question of, hey, if I remove that off the table, I'm sure there's nothing else preventing you from working with me.
- 43:34SPEAKER_03: So they just remove that.
- 43:35SPEAKER_03: Now they can't remove that, right?
- 43:37SPEAKER_03: That's like a that's like a someone walking to a listing appointment and a listing agent saying, not ever talking about commission.
- 43:44SPEAKER_03: All that the buyer agent did is remove the commission conversation.
- 43:46SPEAKER_03: Now they have to have the conversation about it.
- 43:48SPEAKER_03: But when you introduce the buyer commission, you have to change the way you do your presentation because now there's a little bit of friction.
- 43:55SPEAKER_03: So you have to actually show value.
- 43:57SPEAKER_01: Right.
- 43:58SPEAKER_01: Right.
- 43:58SPEAKER_01: Well, well said.
- 43:59SPEAKER_01: Well said.
- 44:00SPEAKER_01: So before we before we wrap this up, we do wrap it up with these rapid fire questions, these either or questions that we'll blow through pretty quickly.
- 44:08SPEAKER_01: But before we do that, you know, you successfully built a very successful business.
- 44:16SPEAKER_01: You exited.
- 44:27SPEAKER_01: Why do you jump back into running a real estate company?
- 44:30SPEAKER_03: I probably have to give you a vulnerable answer and um and I'm happy to do it.
- 44:37SPEAKER_03: I'll tell you the big reason.
- 44:39SPEAKER_03: When we built and sold our last company, uh we had 700-ish agents at the time of sale.
- 44:44SPEAKER_03: And we were a good exit for all the partners, at you know, four partners.
- 44:50SPEAKER_03: And thus, in for the I had a five-year non-compete, and for the first two years, I was in manic depression.
- 44:55SPEAKER_03: And I was depressed for one big reason, and that was I had 700 of these agents.
- 45:00SPEAKER_03: And by the way, uh, as you know, and my involvement with Real, I I I knew all 700 by name and their families.
- 45:07SPEAKER_03: Like it, they were I probably attracted to them to the company.
- 45:11SPEAKER_03: And I was bummed that I there was no way for them to benefit from the sale.
- 45:17SPEAKER_03: Yes, they got a good platform in Douglas Element and they were able to win and they were happy for all of us and all of that.
- 45:22SPEAKER_03: But it was really hard for me that I was able to, we were able to build a business, but I was not able to share the success financially with our 700 plus agents.
- 45:32SPEAKER_03: And I swore, I promised myself that if I ever were to do anything in the future, I would do it where we were a joint co-ownership where everybody owned it.
- 45:42SPEAKER_03: And I want I wanted a very small piece of this because this was my chance to help every other people win.
- 45:47SPEAKER_03: And I've been looking for an opportunity for that.
- 45:49SPEAKER_03: And ever um, and when I met when I met Tamir and the real board, I explained this to them and they said, hey, we've already built this platform.
- 45:57SPEAKER_03: We already have this model.
- 45:59SPEAKER_03: It's just a chance for you to step in and drive this forward because you love and cherish this.
- 46:05SPEAKER_03: And so a big reason for me coming to Reel, honestly, was I'm fortunate financially to be okay, but this is a chance for me to give back and have other people win and me to work for you.
- 46:16SPEAKER_03: So a lot of times you'll see when I share, when someone I'm introducing myself, I'll say, Hey, my name is Sharan Trivatsa.
- 46:21SPEAKER_03: I serve as the president of Reel, and all that it means is that I work for you.
- 46:25SPEAKER_03: And I truly, truly mean that because at the every single day I wake up and I know that you are my partner and that when you win, I there's a level of joy and fulfillment that one, I feel like I need to pay back.
- 46:39SPEAKER_03: And two, I feel like that is so much more fulfilling for me than anything else.
- 46:43SPEAKER_03: So I learned a lot about myself, and a big reason for doing this was me realizing that uh I have an unpaid debt, and this is my chance to do that with a lot of wholesomeness.
- 46:54SPEAKER_01: That's really cool.
- 46:55SPEAKER_01: Uh so did you know Tamir prior to this?
- 46:58SPEAKER_01: Or, you know, how did that first conversation even come about?
- 47:01SPEAKER_01: I'm curious.
- 47:02SPEAKER_01: Yeah, good question.
- 47:03SPEAKER_03: So uh after we sold our business uh to Douglas Hellman, I had a five-year non-compete and I could not run any broke, could not be involved in the brokerage business.
- 47:11SPEAKER_03: So what I did was uh I had a family office, and we decided to, I decided to run a mastermind of$100 million plus teams.
- 47:18SPEAKER_03: So I had$2,800 million teams that I was advising for about five years.
- 47:23SPEAKER_03: And my my family office was supporting these, you know, these 28 teams.
- 47:27SPEAKER_03: And as you know, teams from time to time choose to move brokerages.
- 47:31SPEAKER_03: And uh, a couple of the team leaders that I was advising at that time said to me, Hey, we're considering looking at real.
- 47:36SPEAKER_03: What do you think?
- 47:37SPEAKER_03: And I said, Well, I don't know a ton about real, but I'm happy to jump on the call with you.
- 47:40SPEAKER_03: So I jump on the first call with the first$100 million plus team, and Tamir's on the call, and I don't say anything for the first call.
- 47:47SPEAKER_03: And then two days later, I jump on a second call with a second team with a$100 million team.
- 47:51SPEAKER_03: And Tamir's like, wait a minute, why what who are you and why are you doing on both these calls?
- 47:56SPEAKER_03: And so I explained the role that I have and I said, Hey, I'm just here as an advisor.
- 48:00SPEAKER_03: And then after those two or three meetings happened, um, Tamir messaged me directly, like, hey, what would it take for you to for me, you and I to have a conversation to think about how we can build something together?
- 48:09SPEAKER_03: And then that turned into a friendship.
- 48:11SPEAKER_03: That turned into me spending time with the board, that turned to me uh kind of being a keynote for the first real event.
- 48:16SPEAKER_03: And there were not many people there.
- 48:17SPEAKER_03: When I joined Real Dustin, we had 5,500 agents, and so in 14 months, we've gone from 5,500 to 18,000, um, all by showing up with a lot of love, kindness, and generosity.
- 48:28SPEAKER_03: That's incredible.
- 48:29SPEAKER_01: That that's really cool.
- 48:30SPEAKER_01: I mean, I'm always curious, like how because we just see the headlines, right?
- 48:34SPEAKER_01: Like we see the news happen, and I'm always curious, you know, how it came to be.
- 48:37SPEAKER_01: So that that thank you.
- 48:38SPEAKER_01: That that was really just a I was selfishly curious.
- 48:42SPEAKER_01: Um thank you.
- 48:44SPEAKER_01: I really appreciate your time.
- 48:45SPEAKER_01: I know that you are, you know, from what I can tell, one of the busiest people in real estate.
- 48:50SPEAKER_01: So thank you for your for being so generous with your time.
- 48:53SPEAKER_01: Uh, before we wrap it up in the last minute here, let's blow through these rapid-fire questions.
- 48:57SPEAKER_01: Pick either or.
- 48:58SPEAKER_01: Uh, you don't need to elaborate unless you want to, and then we'll let everyone know where they can find you or they can listen to your podcast and all that good stuff.
- 49:05SPEAKER_01: So let's start with Facebook or Instagram?
- 49:08SPEAKER_02: Instagram.
- 49:10SPEAKER_01: Instagram or TikTok?
- 49:13SPEAKER_02: Instagram.
- 49:14SPEAKER_01: Okay.
- 49:15SPEAKER_01: Instagram or YouTube.
- 49:17SPEAKER_01: YouTube books or podcasts?
- 49:21SPEAKER_01: Podcasts.
- 49:22SPEAKER_01: Podcast or audiobook.
- 49:25SPEAKER_01: Podcast.
- 49:27SPEAKER_01: Rental property or flipping?
- 49:29SPEAKER_03: Rental property.
- 49:31SPEAKER_01: Okay.
- 49:31SPEAKER_01: Burgers or pizza?
- 49:34SPEAKER_02: Pizza.
- 49:36SPEAKER_01: New York or LA.
- 49:39SPEAKER_01: LA.
- 49:40SPEAKER_01: Uh baseball or football?
- 49:43SPEAKER_01: Football.
- 49:44SPEAKER_01: Football or hockey.
- 49:46SPEAKER_01: Hockey.
- 49:47SPEAKER_01: I know you.
- 49:48SPEAKER_01: Mountains or beach?
- 49:50SPEAKER_01: Beach.
- 49:52SPEAKER_01: Um YouTube or Facebook Live.
- 49:55SPEAKER_03: YouTube.
- 49:57SPEAKER_01: And Rich Dad Poor Dad or Millionaire Real Estate Agent.
- 50:02SPEAKER_01: Rich Dad Poor Dad.
- 50:03SPEAKER_01: Uber or Lyft?
- 50:05SPEAKER_01: Uber.
- 50:06SPEAKER_01: Gary V or Grant Cardone.
- 50:09SPEAKER_01: Gary V.
- 50:10SPEAKER_01: Right on.
- 50:12SPEAKER_01: Let's see, Sacramento Kings or Anaheim Ducks?
- 50:15SPEAKER_03: Oh, come on.
- 50:16SPEAKER_03: It's the Anaheim Ducks all the way, man.
- 50:19SPEAKER_01: Uh I'm stoked.
- 50:21SPEAKER_01: So I'm stoked because Utah just got a hockey team.
- 50:24SPEAKER_01: And uh I just went to my first NHL game in St.
- 50:27SPEAKER_01: Louis a month or so ago.
- 50:29SPEAKER_01: Amazing energy at NHL Games.
- 50:31SPEAKER_01: And now we're getting one in Salt Lake, so I'm freaking stoked.
- 50:34SPEAKER_01: I'm now a new hockey fan, so yeah, so I'm excited about that.
- 50:38SPEAKER_01: But Sharon, thank you so much for being on the podcast.
- 50:41SPEAKER_01: Um, really appreciate your time today.
- 50:43SPEAKER_01: Thank you for sharing your wisdom.
- 50:44SPEAKER_01: And anyone that wants uh that that NAR settlement recap and an action plan that Sharon did that he mentioned, just shoot me a message.
- 50:52SPEAKER_01: I'll I'll give you the link.
- 50:53SPEAKER_01: It's on YouTube, but uh happy to give you a link to that.
- 50:55SPEAKER_01: It's just it's such a great um you can't leave that and be pessimistic about the future of this profession and this industry.
- 51:03SPEAKER_01: So, Sharon, thank you for your leadership.
- 51:05SPEAKER_01: Thank you for helping to build such an amazing brokerage and for being on the show today.
- 51:09SPEAKER_03: Hey, man, thank you for uh having me.
- 51:11SPEAKER_03: I feel like I have arrived, so I appreciate that.
- 51:14SPEAKER_01: Absolutely.
- 51:14SPEAKER_01: Thanks, brother.
- 51:16SPEAKER_01: So, right after we finished recording that, Sharron was like, hey, we barely touched the surface on these things.
- 51:20SPEAKER_01: We need to do a part two, maybe a part three.
- 51:23SPEAKER_01: So absolutely, yes, we're gonna have Sharon back on the pod very soon to do a part two and just to dive deeper on these things because I I feel like we we teased a few, we we we gave some tidbits here and there, definitely some value, but we could dive so much deeper.
- 51:37SPEAKER_01: Sharron is an absolute master, and he's also the president of a real estate brokerage, which is really freaking cool how he can lead and he can well lead and train and uh and teach.
- 51:49SPEAKER_01: So uh really honored that he would be on the show and uh and honored to have his time um sharing his expertise today.
- 51:57SPEAKER_01: So, guys, before you go, um this is all about adding tools to your tool belt, your tool belt, right?
- 52:04SPEAKER_01: So Sharon just gave you some great actionable advice on how to frame certain conversations, how to ask certain questions, you know, how to give things a name, package things up in a better way, and all of that.
- 52:17SPEAKER_01: But you also have to arm yourself with knowledge.
- 52:19SPEAKER_01: And that doesn't mean that you have to spend all day, every day researching and reading articles and studying housing trends and interest rate projections and all that bullshit, right?
- 52:28SPEAKER_01: There's actually, you could just have KCM do it for you.
- 52:30SPEAKER_01: You can have keeping current matters do that for you.
- 52:32SPEAKER_01: That's literally what they do.
- 52:33SPEAKER_01: And all you have to do is join their platform and they'll give you all of that, not just all of that information, but what it actually means to you and your buyers and sellers and what to say to them and what your videos should say.
- 52:44SPEAKER_01: They give you scripts and all of that, keeping current matters handles for you.
- 52:49SPEAKER_01: And if you have not tried it out yet, go to trykcm.com slash bam.
- 52:53SPEAKER_01: You need that in your tool belt.
- 52:56SPEAKER_01: Trykcm.com slash BAM.
- 52:59SPEAKER_01: Try it today.
- 53:00SPEAKER_01: And speaking of BAM, the BAMX community, absolutely a must.
- 53:04SPEAKER_01: They're BAMX in a box, their online courses, their trainings, their masterminds, discounts on events.
- 53:10SPEAKER_01: Go over to now bam.com and join BAMX today.
- 53:14SPEAKER_01: Use code MASTIVE at checkout and save yourself uh a chunk of money on the annual membership for uh less than 10 bucks a month.
- 53:22SPEAKER_01: You can be part of the BAMX community.
- 53:24SPEAKER_01: It is well worth your time, well worth your money.
- 53:27SPEAKER_01: Make sure you use code MASTIVE at checkout.
- 53:29SPEAKER_01: And thank you so much for listening this week.
- 53:31SPEAKER_01: Please share this episode if you found what Sharon was sharing helpful.
- 53:35SPEAKER_01: Share it with an agent, share it with doesn't matter which brokerage you're at.
- 53:39SPEAKER_01: Really good stuff today from Sharon's Travatza.
- 53:41SPEAKER_01: And uh, I'm excited to have him back on the podcast again soon for part two.
- 53:45SPEAKER_01: Thank you so much for listening.
- 53:46SPEAKER_01: See you next time.