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The Key Hire Every Realtor Should Make Today · Massive Agent Podcast

• 0:00
  SPEAKER_00: If you're trying to double your business, if you're trying to go from 25 homes sold to 50 homes sold, it doesn't necessarily mean that you have twice as much work to do.
• 0:10
  SPEAKER_00: In fact, the way to make sure that you can double your business is to do less work, to take stuff off your plate.
• 0:16
  SPEAKER_00: So you need to make a very key hire.
• 0:18
  SPEAKER_00: On this episode, I'll tell you what that hire is, and you'll learn why it's so damn easy and simple.
• 0:23
  SPEAKER_00: And you're going to be pissed at yourself for not having done it years ago.
• 0:27
  SPEAKER_01: The massive agent podcast.
• 0:35
  SPEAKER_00: I love to buy houses.
• 0:36
  SPEAKER_00: I like to sell houses.
• 0:49
  SPEAKER_01: Here's your host, Dustin Brohm.
• 0:53
  SPEAKER_00: What is up, everybody?
• 0:54
  SPEAKER_00: Welcome to episode 142 of the Massive Agent Podcast.
• 0:58
  SPEAKER_00: I'm Dustin Brohm.
• 0:59
  SPEAKER_00: Today we're talking about how to scale your business by taking stuff off your plate, by doing fewer things.
• 1:06
  SPEAKER_00: If you are running a business, any business, doesn't matter what kind of business it is, it just happens that you're all in real estate.
• 1:14
  SPEAKER_00: So let's talk about that.
• 1:15
  SPEAKER_00: To scale a real estate business, you need to focus on income-producing activities, right?
• 1:21
  SPEAKER_00: Your time is best spent doing the things that will drive the revenue, that will actually bring in the leads or the clients or, you know, lead to actual closings.
• 1:33
  SPEAKER_00: But there's a lot of stuff that we do as agents, like a lot of stuff, that is just busy work.
• 1:39
  SPEAKER_00: It doesn't mean that it doesn't need to be done, but they're not income-producing activities.
• 1:43
  SPEAKER_00: They're just like it's a bunch of shit that we have to do.
• 1:47
  SPEAKER_00: Administrative stuff.
• 1:48
  SPEAKER_00: Well, what if you were able to take a large chunk of that off your plate and then you could focus more of your time on creating content, generating leads, meeting with clients, uh, doing, you know, whatever you want to do, the income-producing activities, you can do those things if you take a bunch of crap off your plate and have someone else do it.
• 2:10
  SPEAKER_00: So we're gonna talk about that.
• 2:12
  SPEAKER_00: Uh, this is something I'm I'll tell you my story, uh a cautionary tale, if you will, of what happens when you wait too damn long to make this hire.
• 2:20
  SPEAKER_00: It's one of the easiest things you could ever do as an agent.
• 2:24
  SPEAKER_00: And hopefully a lot of you already have made this hire.
• 2:27
  SPEAKER_00: But literally, if you're selling 25 homes a year right now, you could go to 50 homes a year just by taking all the administrative crap off your plate so you can focus on doing deals and bringing new people into your pipeline and converting people who are in your pipeline into clients and uh you know, and actually bringing in a bunch of new people.
• 2:48
  SPEAKER_00: So uh so we'll do that.
• 2:50
  SPEAKER_00: If you are new to the show, welcome.
• 2:51
  SPEAKER_00: My name is Dustin Brohm, your host.
• 2:53
  SPEAKER_00: I am the co-founder of the Industry Syndicate Podcast Network, the real estate and mortgage industry's first and only major podcast network.
• 3:02
  SPEAKER_00: Uh, so you can find all the best shows on the Industry Syndicate over at industry syndicate.com.
• 3:07
  SPEAKER_00: I am a national speaker on all things real estate marketing, social media, podcasting, and lead generation.
• 3:12
  SPEAKER_00: I'm a realtor myself in uh in Salt Lake City with EXP Realty, and I am the founder of the Massive Agent Society, our one agent per market lead generation training and coaching support system and platform.
• 3:26
  SPEAKER_00: Uh my team gets access to that for free.
• 3:29
  SPEAKER_00: If you're not if you're not an agent on my team, um, and my team is international.
• 3:34
  SPEAKER_00: I don't necessarily mean my local team, but my my overall uh massive agent team that I'm growing, um, you get access for free if you're on my team.
• 3:42
  SPEAKER_00: If not, you can go claim your spot over at MassiveAgenSociety.com.
• 3:46
  SPEAKER_00: Go check that out if if that piques your interest, if you have any interest in learning how to generate your own leads.
• 3:53
  SPEAKER_00: And more importantly, it's not just about getting leads.
• 3:55
  SPEAKER_00: Like getting leads is good, you know, but that starts the process.
• 3:58
  SPEAKER_00: You've got to get the lead before you can talk to somebody, before you have a chance to meet with them, before you have a chance to show them homes or list their home and you know, finally close a deal.
• 4:10
  SPEAKER_00: Yeah, you know, you have to start with a lead.
• 4:12
  SPEAKER_00: It's very important, but it's not the whole deal.
• 4:14
  SPEAKER_00: But if you want to learn how to control your ability to get leads in the door, you have to, if it's not the massive agent society, you've got to learn it.
• 4:23
  SPEAKER_00: You've got to learn it somehow.
• 4:24
  SPEAKER_00: You can do it the long, hard, expensive way, like I did.
• 4:28
  SPEAKER_00: Well, long, hard, expensive way.
• 4:31
  SPEAKER_00: Um, there's some jokes there.
• 4:33
  SPEAKER_00: But I did it the wrong way because I refused to hire a coach or take a course, and I'm like, I'm gonna learn it my damn self.
• 4:40
  SPEAKER_00: Well, I did.
• 4:40
  SPEAKER_00: It just took me a lot longer.
• 4:42
  SPEAKER_00: And what's the opportunity cost of not, you know, of not taking a course, of not learning from a pro, not getting someone else's blueprint so you can speed up the timeline and start closing deals faster.
• 4:54
  SPEAKER_00: It's gonna save you a lot of money.
• 4:56
  SPEAKER_00: Um, first, you're gonna make a lot more that you wouldn't have if you insist on doing it yourself.
• 5:01
  SPEAKER_00: And guys, I I don't just mean this little rant here about the massive agent society, whatever.
• 5:06
  SPEAKER_00: Like if that's for you or or isn't for you, whatever.
• 5:08
  SPEAKER_00: Uh I I want you guys to start thinking differently about leveraging other people's time.
• 5:14
  SPEAKER_00: Okay.
• 5:15
  SPEAKER_00: This is what the truly successful do.
• 5:17
  SPEAKER_00: They don't sit there and go, I'm gonna save a few hundred dollars and spend the next three months of my life to learn something that they could have paid a few hundred dollars to learn it now and do it now and start implementing now.
• 5:30
  SPEAKER_00: Okay, those that are that try to do it all themselves where there's a roadmap already out there to follow, those that insist on doing it themselves to save a few bucks, not smart.
• 5:41
  SPEAKER_00: Not smart.
• 5:42
  SPEAKER_00: I'm not gonna say you're an idiot because I was one of those people.
• 5:46
  SPEAKER_00: Uh I was definitely one of those people, but you're just you don't have the right perspective.
• 5:51
  SPEAKER_00: You're looking at it all wrong.
• 5:52
  SPEAKER_00: You're not saving money, you're losing a lot of it.
• 5:55
  SPEAKER_00: So, guys, if something is out there that you want to learn how to do, find someone who's done it, pay them to show you how or to give you their system, whatever it is, and then do it.
• 6:07
  SPEAKER_00: And do it today rather than four months from now when you know you have to spend all day, every day learning.
• 6:13
  SPEAKER_00: Reinventing the wheel.
• 6:15
  SPEAKER_00: I don't know about you, but I I don't think reinventing the wheel is a good business model or good use of your time.
• 6:20
  SPEAKER_00: So there you go.
• 6:22
  SPEAKER_00: There's a takeaway for you.
• 6:24
  SPEAKER_00: Whether you join the society or not, I don't give a shit, but but walk away with that tidbit, please.
• 6:29
  SPEAKER_00: One that's one of the biggest things that I changed in my life that's helped me have a lot of success in the last couple of years that I never would have had before is I finally realized that when you when you hire a coach or take a course or something like that to get the blueprint to do something you want to do, you are making an investment.
• 6:49
  SPEAKER_00: It's not an expense, it's an investment as long as you follow through on what it is you're doing.
• 6:54
  SPEAKER_00: That's all.
• 6:54
  SPEAKER_00: Okay.
• 6:55
  SPEAKER_00: Um, but wasn't really planning on that little rant, but I I think it's beneficial.
• 7:00
  SPEAKER_00: And it kind of ties in to our topic today.
• 7:03
  SPEAKER_00: How many of you guys have a transaction coordinator?
• 7:07
  SPEAKER_00: All right.
• 7:08
  SPEAKER_00: Transaction coordinator is something that my mentor from day one told me that I needed to do.
• 7:13
  SPEAKER_00: Okay, day one.
• 7:14
  SPEAKER_00: I've been an agent for almost 10 years now.
• 7:17
  SPEAKER_00: In January, it'll be 10 years.
• 7:19
  SPEAKER_00: From day one, he said, okay, every time you do a deal, you need to pay a transaction coordinator a couple hundred bucks and they'll handle the paperwork stuff for you.
• 7:28
  SPEAKER_00: And now I'm glad that I did, I did my own files and did all the addenda and all this stuff myself in the beginning so that I learned what was required.
• 7:38
  SPEAKER_00: Okay.
• 7:39
  SPEAKER_00: I wanted to have an understanding.
• 7:40
  SPEAKER_00: But once I did a few deals, I had an understanding.
• 7:42
  SPEAKER_00: But in my eyes, I was saving a couple hundred bucks, right?
• 7:46
  SPEAKER_00: How many of you guys who do not have a transaction coordinator are thinking that you're saving a few hundred dollars per closing?
• 7:53
  SPEAKER_00: You think so.
• 7:55
  SPEAKER_00: But when you have all this extra crap that's administrative paper pushing crap, when you're doing it yourself, that's time that you can't spend learning how to run Facebook ads.
• 8:06
  SPEAKER_00: That's time that you can't spend uh launching a podcast.
• 8:11
  SPEAKER_00: That's time you can't spend door knocking or whatever it is that you do, whatever your income-producing activities are, you can't do those activities if you are making sure they're all the initials on this lead-based paint addendum or you know, whatever.
• 8:26
  SPEAKER_00: You can't do that.
• 8:27
  SPEAKER_00: And if you have multiple transactions going at any one time, even if it's 30 minutes a day that you spend uh, you know, doing the administrative stuff, you can't, that 30 minutes is extremely valuable time.
• 8:40
  SPEAKER_00: If you guys don't think that you're that an hour of your time is valuable, that's a problem.
• 8:45
  SPEAKER_00: That's something we need to fix because it should be$1,000 an hour.
• 8:49
  SPEAKER_00: Okay, you're you should look at your time as being worth at least$1,000 an hour.
• 8:54
  SPEAKER_00: And I can do a whole other episode on on why that is.
• 8:58
  SPEAKER_00: Uh, but if if you don't think that way, and if you don't believe that, you're doing yourself a disservice.
• 9:03
  SPEAKER_00: So one of my goals is to help you get there to where you actually see your time as being that valuable.
• 9:09
  SPEAKER_00: All right.
• 9:10
  SPEAKER_00: There's gonna be a lot of squirrel moments in this episode.
• 9:12
  SPEAKER_00: I'm just letting you know because this was a spur-of-the-moment topic that I did this week.
• 9:17
  SPEAKER_00: I don't really have any notes, I don't really have any outlines.
• 9:19
  SPEAKER_00: You guys probably won't be able to tell a difference from every other frickin' episode we've done, but uh there will just be a slight uptick in squirrel moments on this episode.
• 9:28
  SPEAKER_00: So just bear with me on that.
• 9:29
  SPEAKER_00: So if you were spending 30 minutes a day doing administrative paperwork stuff, okay, it's not just the 30 minutes, it's what you're what you're thinking about during that time.
• 9:40
  SPEAKER_00: Okay.
• 9:41
  SPEAKER_00: And when you can take that stuff and have someone else do it, and a transaction coordinator, and that transaction coordinator, they don't get paid until the deal closes.
• 9:52
  SPEAKER_00: So it's not, you're not paying out of pocket.
• 9:54
  SPEAKER_00: Now, if your state or your brokerage is different, okay, but my general understanding for pretty much everywhere is that transaction coordinator, they get paid when the deal closes.
• 10:03
  SPEAKER_00: Okay.
• 10:04
  SPEAKER_00: Check with your broker, make sure that that's cool in your state.
• 10:06
  SPEAKER_00: I haven't heard of a state that it isn't, but whatever.
• 10:10
  SPEAKER_00: Okay.
• 10:10
  SPEAKER_00: So verify that.
• 10:11
  SPEAKER_00: I'm not the ultimate authority on anything, let alone, you know, that.
• 10:17
  SPEAKER_00: But you're making an investment that's just it's a reduction of how much you're gonna net when you close a deal.
• 10:23
  SPEAKER_00: Okay.
• 10:23
  SPEAKER_00: But what you're doing is you've taken a lot of that crap off your plate.
• 10:26
  SPEAKER_00: And even if you only have one deal going on right now, if you can just remove an hour of work, okay, and have a professional do it.
• 10:36
  SPEAKER_00: And guys, I know a lot of you are like, I want to make sure that it gets done correctly.
• 10:40
  SPEAKER_00: Well, yeah, that's why you hire a transaction coordinator because that's literally their only job.
• 10:47
  SPEAKER_00: Their only job is to do it correctly, and they do it correctly for many other agents.
• 10:52
  SPEAKER_00: They do many more deals than you do.
• 10:54
  SPEAKER_00: They they do all the paperwork and cross all the T's and dot all the I's.
• 10:59
  SPEAKER_00: For a lot of other agents, they've done a lot more than you ever could.
• 11:03
  SPEAKER_00: So if you as long as you hire the right transaction coordinator, you will be ensuring that it's done correctly.
• 11:10
  SPEAKER_00: So, so let go of this control thing.
• 11:12
  SPEAKER_00: I I did this.
• 11:13
  SPEAKER_00: Okay, I did this, I I know what it's like.
• 11:15
  SPEAKER_00: It's stupid because at the time you're like, well, I don't want to, I can't let go of it because they might screw it up, and then you know, some I'm I didn't even know what you know, like what could possibly happen, right?
• 11:24
  SPEAKER_00: Like my broker would catch it and be like, hey, fix this, but it was it was just one of my hangups because I didn't want to spend the$300 to hire a TC.
• 11:33
  SPEAKER_00: Okay.
• 11:33
  SPEAKER_00: I I still saw it as an expense.
• 11:36
  SPEAKER_00: But once I finally did, and I can't remember exactly when, it was probably, I don't know, three, four years ago, okay, six years, seven years into my career, something like that.
• 11:48
  SPEAKER_00: When I finally hired a TC, I I went to them and I said, Hey, you you came highly recommended, so you tell me what you can do for me.
• 11:58
  SPEAKER_00: Okay, and that's another thing that so many of you guys that don't have a transaction coordinator yet, you're like, Well, I don't want to take time to train them and I don't even know what to ask them for.
• 12:06
  SPEAKER_00: Guys, that's literally what they do.
• 12:09
  SPEAKER_00: They manage and coordinate all the stuff around the transaction.
• 12:13
  SPEAKER_00: They'll schedule an inspection for you and coordinate it with your clients and the inspector.
• 12:17
  SPEAKER_00: They'll uh facilitate the sign going up, the sign going down, the lock box going up, the lock box going down, they'll make sure that you know the seller disclosures get signed by the sellers and you know sent over to the buyers.
• 12:29
  SPEAKER_00: Ask the TC what they do.
• 12:31
  SPEAKER_00: Okay.
• 12:31
  SPEAKER_00: You don't need to train them.
• 12:33
  SPEAKER_00: Guys, if you are needing to tell your transaction coordinator what you need them to do, you've hired the wrong transaction coordinator.
• 12:40
  SPEAKER_00: Okay.
• 12:41
  SPEAKER_00: There's no shortage of them out there.
• 12:43
  SPEAKER_00: And uh yet another objective that I'm sure some of you had, because I did.
• 12:49
  SPEAKER_00: I I had a lot of dumb thinking in my past.
• 12:52
  SPEAKER_00: Okay, a lot of dumb thinking.
• 12:54
  SPEAKER_00: And you guys will, I'm not calling you dumb, but you are going to realize pretty soon that certain things that you think or or the way that you think is just wrong.
• 13:02
  SPEAKER_00: And when you see it in a different perspective, you're gonna be like, well, that didn't make any sense.
• 13:06
  SPEAKER_00: Oh, that was stupid.
• 13:07
  SPEAKER_00: Okay.
• 13:07
  SPEAKER_00: It doesn't mean you're stupid.
• 13:08
  SPEAKER_00: It's just, you know, you you need to learn a different perspective on things.
• 13:14
  SPEAKER_00: When you hire the TC, okay, they're gonna tell you, hey, we can do these things for you.
• 13:18
  SPEAKER_00: Okay.
• 13:19
  SPEAKER_00: So so then all of a sudden, you're gonna be like, wait a minute.
• 13:22
  SPEAKER_00: Okay, cool.
• 13:23
  SPEAKER_00: So when you start the transaction, you ask them, what do you need for me to start a transaction with you, Mr.
• 13:29
  SPEAKER_00: or Mrs.
• 13:30
  SPEAKER_00: Transaction Coordinator?
• 13:31
  SPEAKER_00: And they'll tell you.
• 13:32
  SPEAKER_00: So if it's a listing, you probably just need to get the listing agreement signed.
• 13:36
  SPEAKER_00: Uh, or uh, you know, some TCs will even like write it up and send it over for electronic signatures.
• 13:42
  SPEAKER_00: You just need it agreed upon, and then they'll get it signed for you electronically, right?
• 13:47
  SPEAKER_00: So you ask them, what do you need from me?
• 13:51
  SPEAKER_00: Okay, they'll say, I need a listing agreement to start a listing, and then the you know, the seller's information, the title company information.
• 13:58
  SPEAKER_00: If it's a buyer, I need the lender's information, and you're basically giving them contact info.
• 14:02
  SPEAKER_00: And then guess what happens?
• 14:04
  SPEAKER_00: They go contact your clients and the lender and the appraisers and the inspectors and whoever, whoever's involved in the deal, and they will do that stuff for you because they are your assistant.
• 14:17
  SPEAKER_00: Okay, you have to start thinking of it as hiring an assistant.
• 14:21
  SPEAKER_00: And when you do that, now all of a sudden, even if it's one hour that you've saved per transaction, that hour it like you're gonna feel empowered.
• 14:31
  SPEAKER_00: You're gonna be like, oh my gosh, like, okay, I all this stuff that I would have had to go through this checklist, I no longer have to do.
• 14:38
  SPEAKER_00: Cool.
• 14:39
  SPEAKER_00: Now your your brain is freed up.
• 14:41
  SPEAKER_00: Your mind is no longer thinking about those things.
• 14:43
  SPEAKER_00: You're not gonna be laid, you're not gonna lay awake at night wondering, oh shit, did I get uh a signature on that lead-based paint disclosure?
• 14:51
  SPEAKER_00: You know, because I know what that's like.
• 14:53
  SPEAKER_00: You're not ever gonna do that.
• 14:54
  SPEAKER_00: So now your mind space is freed up, not just your time, but your mind space to think about income-producing activities, how to drive business, how to get new clients in the door, you know, how to how to get better branding out there, how to get more people to know that you exist as an agent.
• 15:11
  SPEAKER_00: That is so powerful.
• 15:13
  SPEAKER_00: And it's here's the thing, guys.
• 15:15
  SPEAKER_00: If you can, if you are doing those activities, okay, it let I'm just gonna go with$300 per transaction, okay?
• 15:24
  SPEAKER_00: And and the transaction coordinator obviously will depend on if they're licensed or unlicensed.
• 15:29
  SPEAKER_00: I used to have an unlicensed one for a long time.
• 15:32
  SPEAKER_00: Um, over the last year and a half or so, I've used a licensed one and I definitely prefer the licensed one.
• 15:39
  SPEAKER_00: They can actually write addenda for you, they can write contracts for you because they're licensed and they're just an assistant of yours.
• 15:46
  SPEAKER_00: So you could be like, you could just send them a text and be like, hey, um, you know, we just agreed to reduce the price by 5K.
• 15:53
  SPEAKER_00: Would you mind sending that over and getting it signed?
• 15:55
  SPEAKER_00: You're done.
• 15:56
  SPEAKER_00: You're done.
• 15:58
  SPEAKER_00: How freeing would that be?
• 16:00
  SPEAKER_00: How freeing would that be to you if you could just have be like, hey, here's what we agreed on, go get it done.
• 16:08
  SPEAKER_00: That's literally what's happening.
• 16:09
  SPEAKER_00: You need a licensed TC to make that happen.
• 16:13
  SPEAKER_00: Now, check with your brokerage because some brokerages, like mine, they require that if you have a licensed transaction coordinator, they must be licensed with your brokerage.
• 16:23
  SPEAKER_00: And I I know that there's a bunch of other brokerages out there with the same requirement.
• 16:27
  SPEAKER_00: Now, if it's an unlicensed TC, they can't write addendums and or addenda and all that stuff, but they can do a lot of other stuff.
• 16:34
  SPEAKER_00: And I was super stoked with my unlicensed one.
• 16:37
  SPEAKER_00: Um, so if you have an unlicensed one, chances are, you know, well, they're not licensed with anybody, so you can hire them and uh wherever.
• 16:45
  SPEAKER_00: My unlicensed TC was actually in New Mexico, and I live in Salt Lake City, and we just did everything through text and email.
• 16:52
  SPEAKER_00: It was amazing.
• 16:53
  SPEAKER_00: But then I got a licensed one, they could do more for me.
• 16:56
  SPEAKER_00: It was great.
• 16:56
  SPEAKER_00: Absolutely great.
• 16:57
  SPEAKER_00: So check with your brokerage on their requirements for licensed versus unlicensed transaction coordinators.
• 17:04
  SPEAKER_00: But 300 bucks, okay.
• 17:05
  SPEAKER_00: If you're paying$300 or your commission's being reduced by that amount to save uh, you know, an hour, hour and a half, two hours of your time over the course of the whole transaction, uh, that's amazing.
• 17:18
  SPEAKER_00: Okay.
• 17:19
  SPEAKER_00: That that's amazing.
• 17:20
  SPEAKER_00: You need to start doing that because the when you focus on income earning activities, that's when you start to get the thousand$500,$700,000 per hour for your time.
• 17:31
  SPEAKER_00: But if you're stuck doing paperwork, you're working for$20 an hour.
• 17:35
  SPEAKER_00: Okay.
• 17:35
  SPEAKER_00: Is that a good use of your time?
• 17:37
  SPEAKER_00: If you're someone that's like, I value my time, I'm a professional, but then you're doing paperwork and you know, you're you are personally driving your sign 30 minutes across town to put in the ground and then drive back or to put up a lockbox or whatever, you're not really valuing your time the way you say you do.
• 17:53
  SPEAKER_00: Okay, uh something, this is not real estate related, but stop mowing your damn lawn.
• 17:59
  SPEAKER_00: You can get someone to mow your lawn for you know 40 bucks a week.
• 18:03
  SPEAKER_00: So if you're if mowing your lawn and doing the trimming and all that takes an hour and you do it every week, you're working for 40 bucks an hour.
• 18:11
  SPEAKER_00: Or, you know, 25 bucks an hour, whatever it costs to mow your lawn in your area.
• 18:15
  SPEAKER_00: Um, I think my lawn guy is 35 bucks per week.
• 18:18
  SPEAKER_00: Okay, so if I did all that, first off, I hate doing it, but second of all, I'd be working for 35 bucks an hour.
• 18:25
  SPEAKER_00: So I've chosen to not do that and to spend my time doing higher income producing activities.
• 18:31
  SPEAKER_00: Okay, you see where I'm going with this?
• 18:33
  SPEAKER_00: If you want to be majorly successful, you've got to free up your time to focus on the activities that drive the revenue, that really move the needle on your business.
• 18:43
  SPEAKER_00: And administrative paperwork stuff is not it.
• 18:47
  SPEAKER_00: Get rid of it, hire a real pro, someone who is really good at that shit, to do it.
• 18:53
  SPEAKER_00: Like, I don't do my own taxes.
• 18:55
  SPEAKER_00: Do you?
• 18:56
  SPEAKER_00: You shouldn't.
• 18:57
  SPEAKER_00: You shouldn't.
• 18:58
  SPEAKER_00: I mean, I know that you theoretically can, like you literally can, but is that the best use of your time?
• 19:04
  SPEAKER_00: Do you know that the 75,000 page tax code intimately?
• 19:09
  SPEAKER_00: Do you know about all the special um you know tax deductions and tax credits that are possible and you know, little tricks and gimmicks and all that shit?
• 19:18
  SPEAKER_00: I don't.
• 19:18
  SPEAKER_00: So I hire someone who does.
• 19:20
  SPEAKER_00: And eve so maybe it costs me a thousand bucks to get my taxes done, but they'll they'll save me, you know, maybe another seven grand that that I didn't have to pay that I wouldn't have been able to do myself.
• 19:30
  SPEAKER_00: Okay, you don't would you represent yourself in court?
• 19:33
  SPEAKER_00: I wouldn't.
• 19:34
  SPEAKER_00: You know, that there's some things that you just outsource to the pros, and it's worth doing.
• 19:39
  SPEAKER_00: Uh, I know this is not exactly the same thing as hiring an attorney to represent you in court or hiring a brain surgeon versus a general, a general surgeon, but you get the point.
• 19:49
  SPEAKER_00: You get the point.
• 19:50
  SPEAKER_00: Hiring a transaction coordinator was one of the best business decisions I've ever made.
• 19:56
  SPEAKER_00: I said this, wow, I said decisions weird, and then I tried to say it again and said that weird.
• 20:03
  SPEAKER_00: Not hiring one for six years or so was one of the worst business moves I've ever made.
• 20:09
  SPEAKER_00: The best business move I've ever made in my real estate career in almost 10 years was the brokerage that I'm with.
• 20:14
  SPEAKER_00: Switching to the brokerage I'm with now was hands down, not even debatable, the best move I I've ever made.
• 20:21
  SPEAKER_00: The you know, the second runner-up, or no, maybe the first runner-up, the runner-up to that, second place, the second best business move I've ever made was hiring a transaction coordinator.
• 20:32
  SPEAKER_00: It just frees up so much more time.
• 20:34
  SPEAKER_00: And if you don't it, and let's say you just want more free time, you just want to be able to go work out during the middle of the day, or you want more time with your family or whatever, awesome.
• 20:43
  SPEAKER_00: Outsource the bullshit, hire a bookkeeper to keep your QuickBooks updated, and then hire a transaction coordinator so that when you get a listing, you're like, hey, send this listing agreement over there.
• 20:52
  SPEAKER_00: They agreed to this, here's here's their contact info, boom.
• 20:55
  SPEAKER_00: They handle it, they upload it.
• 20:58
  SPEAKER_00: So this is how it works at my brokerage.
• 20:59
  SPEAKER_00: We use Sky Slope to manage all of our transactions.
• 21:02
  SPEAKER_00: So my transaction coordinator knows Sky Slope very well.
• 21:05
  SPEAKER_00: So they not only get all the signatures and make sure every piece of paperwork is in order, they'll upload it so my broker can approve it, so I can get my file approved, and you know, all is well.
• 21:16
  SPEAKER_00: Like I literally don't have to worry about it at all.
• 21:18
  SPEAKER_00: It's incredible.
• 21:19
  SPEAKER_00: And I will pay 300 bucks per transaction all day long, every single deal, so that I can worry about that stuff less and focus on running a business.
• 21:30
  SPEAKER_00: When this is something that I hope you can understand the difference.
• 21:35
  SPEAKER_00: Working in your business is very different from working on your business.
• 21:39
  SPEAKER_00: Okay.
• 21:39
  SPEAKER_00: When you are working on your business, you're working on the stuff that really moves the needle.
• 21:43
  SPEAKER_00: Strategy, you know, making big decisions, uh, you know, getting new clients in the door.
• 21:49
  SPEAKER_00: Okay, growth.
• 21:51
  SPEAKER_00: Working in your business is all the little stuff like okay, I gotta order these signs and I gotta go over here, pick them up, and drive over here 20 minutes and then drive back home, and then I gotta go.
• 22:00
  SPEAKER_00: Over here and drop off this key box and all that stuff.
• 22:02
  SPEAKER_00: You can hire someone to do that for 15, 20 bucks an hour.
• 22:05
  SPEAKER_00: So if you are doing it yourself, you are working for 15 to 20 bucks an hour.
• 22:11
  SPEAKER_00: I don't think you got into this business to work for 15 to 20 bucks an hour.
• 22:15
  SPEAKER_00: Now, did you?
• 22:16
  SPEAKER_00: Of course not.
• 22:17
  SPEAKER_00: So trust me when I tell you that the second best business move I've ever made in my career was hiring a transaction coordinator.
• 22:25
  SPEAKER_00: And when I did, once I actually tried it out on one deal, and that's what you need to do.
• 22:30
  SPEAKER_00: You need to quote try it out.
• 22:32
  SPEAKER_00: We're gonna I'm gonna try you out one time and we'll we'll see.
• 22:35
  SPEAKER_00: And if you're any good, then I'll use you again.
• 22:37
  SPEAKER_00: Well, they're gonna be good and you're gonna love it and you're gonna use them every time.
• 22:40
  SPEAKER_00: So once I once I did that, I was like, God damn it, why didn't I do this, you know, way back in the beginning when my mentor told me that I needed to do it.
• 22:50
  SPEAKER_00: Right?
• 22:50
  SPEAKER_00: But I was quote, saving money.
• 22:53
  SPEAKER_00: I wasn't, I was just I was busier doing busy work, I was busier doing busy work than I ever needed to be.
• 23:02
  SPEAKER_00: Dumb move.
• 23:03
  SPEAKER_00: Okay.
• 23:03
  SPEAKER_00: I stopped mowing my lawn, I hired that out, you know.
• 23:07
  SPEAKER_00: I there's all sorts of stuff that I've since hired out because once you get a taste for outsourcing things that don't require you, you're gonna want to do a lot more of it so you can focus on income earning activities.
• 23:17
  SPEAKER_00: And when you do that, guess what?
• 23:20
  SPEAKER_00: You earn more income.
• 23:21
  SPEAKER_00: So, action items, guys.
• 23:23
  SPEAKER_00: If you do not have a transaction coordinator, ask other agents that you work with or that you respect who they use.
• 23:29
  SPEAKER_00: Get get recommendations, okay?
• 23:32
  SPEAKER_00: And that this is one of those things.
• 23:33
  SPEAKER_00: This was an objective that I had.
• 23:35
  SPEAKER_00: Okay.
• 23:35
  SPEAKER_00: Well, I don't know any transaction coordinators.
• 23:38
  SPEAKER_00: Okay, well, I don't know any brain surgeons either.
• 23:40
  SPEAKER_00: It doesn't mean that there aren't any, you know?
• 23:43
  SPEAKER_00: Like, you just have to find one, right?
• 23:45
  SPEAKER_00: Uh like I don't know any, like, let's say I uh I I need to go to a doctor about my foot.
• 23:52
  SPEAKER_00: Um my toe fell off or is about to, for example.
• 23:55
  SPEAKER_00: So I need to go find a foot doctor.
• 23:58
  SPEAKER_00: Well, I don't know any.
• 23:58
  SPEAKER_00: Does that mean that, oh shit, I can't get anyone to help me with this?
• 24:02
  SPEAKER_00: No.
• 24:02
  SPEAKER_00: I just go find a foot doctor.
• 24:05
  SPEAKER_00: So you're gonna find a transaction coordinator.
• 24:08
  SPEAKER_00: Don't just pick anyone, find the ones that other agents that you respect recommend.
• 24:12
  SPEAKER_00: Okay?
• 24:13
  SPEAKER_00: Check with your broker, see if you know, see what it looks like with your brokerage, uh, whether or not they're a licensed or unlicensed transaction coordinator.
• 24:21
  SPEAKER_00: And uh, you know, if you want to maybe save a couple bucks, go with an unlicensed one.
• 24:26
  SPEAKER_00: I recommend going with a licensed one because, like I said, it is so freaking cool if you're on vacation or if even if you're just sitting there, you're about to take a nap, and you're like, hey, uh write up this addendum to extend closing deadline by three days.
• 24:41
  SPEAKER_00: And they do it.
• 24:42
  SPEAKER_00: And then they send it for signatures, and all you had to do was tell them to do it.
• 24:47
  SPEAKER_00: That is a game changer.
• 24:48
  SPEAKER_00: So hopefully that right there will show you the power of a transaction coordinator, and then you can spend your time doing the shit that really matters, that will really grow your business.
• 24:58
  SPEAKER_00: But it it starts with doing it once.
• 25:00
  SPEAKER_00: So try it for for one transaction, okay?
• 25:03
  SPEAKER_00: Your your next transaction, or even if you just barely started one, do it.
• 25:07
  SPEAKER_00: Outsource it to a transaction coordinator.
• 25:09
  SPEAKER_00: Ask other agents who you respect at your brokerage or or wherever, who they use and who they'd recommend.
• 25:16
  SPEAKER_00: And then reach out and say, Hey, I've never used a TC before.
• 25:19
  SPEAKER_00: I want to try you out.
• 25:20
  SPEAKER_00: What do you need?
• 25:21
  SPEAKER_00: And let them tell you.
• 25:22
  SPEAKER_00: And if they're a real pro, if they're really good at what they're doing, they will tell you.
• 25:26
  SPEAKER_00: And then you do it, and your life has changed forever.
• 25:30
  SPEAKER_00: I promise you this.
• 25:31
  SPEAKER_00: I promise you.
• 25:32
  SPEAKER_00: Every agent that I coach, every every coaching client of mine, every team member that I have that we've gotten to see the light with getting a transaction coordinator, they all, every single one of them, says, damn it, I should have done this earlier.
• 25:48
  SPEAKER_00: The next best thing you can do is just do it now.
• 25:50
  SPEAKER_00: Okay, you can't do it earlier, you can just do it now.
• 25:52
  SPEAKER_00: So let's do that, shall we?
• 25:54
  SPEAKER_00: Because you're all telling your clients the best time to buy real estate is 30 years ago or today.
• 26:00
  SPEAKER_00: It's the same thing with a TC.
• 26:01
  SPEAKER_00: Take your own damn advice, hire one, and I promise you, it will it that change right there can take you from 25 homes a year to 50.
• 26:10
  SPEAKER_00: It can go from 50 homes a year to 100.
• 26:12
  SPEAKER_00: Okay, you just watch because you're gonna be able to focus on what really makes the transactions happen, what really drives your business, and not on all the bullshit that you can hire out for 20 bucks an hour.
• 26:22
  SPEAKER_00: Guys, thank you for listening this week.
• 26:24
  SPEAKER_00: Uh, if if you are interested in joining my team, I'm building out my team all around the country and all around North America.
• 26:30
  SPEAKER_00: If that interests you, if you want to know what that looks like, um, feel free to reach out.
• 26:34
  SPEAKER_00: Just go DM me on Facebook or Instagram at MassiveAgent on both.
• 26:39
  SPEAKER_00: Um, just shoot me a DM and say, hey, interested in joining your team, what does that look like?
• 26:43
  SPEAKER_00: Um, you could also watch a video of the business model that is the foundation of our team and what makes our team even possible to do.
• 26:51
  SPEAKER_00: Um, I mean, there's a reason why my team isn't just in Salt Lake, it's literally anywhere, anywhere that you know our brokerage is, which is all 50 states, pretty much all of Canada, Australia, um, and the UK.
• 27:05
  SPEAKER_00: Okay, so any agents there, you can be on my team, okay, which is amazing.
• 27:11
  SPEAKER_00: It's because of the business model.
• 27:12
  SPEAKER_00: If you want to see what that is and get the details of that in a non-pressure way where you can just, I don't even need to know you're doing it.
• 27:19
  SPEAKER_00: Just go to massiveagentpodcast.com slash exp and click play on the video.
• 27:25
  SPEAKER_00: And if you like what you see, let's talk.
• 27:28
  SPEAKER_00: Guys, this can be an incredible business.
• 27:30
  SPEAKER_00: This you can have so much fun and make so much damn money and have a very uh rewarding career, but you have to start treating your business like it's an actual business.
• 27:40
  SPEAKER_00: If you are just your own employee, this this business really starts to drain on you.
• 27:46
  SPEAKER_00: Or to drain you.
• 27:48
  SPEAKER_00: It becomes a drain on you.
• 27:49
  SPEAKER_00: You've you have to start running your business like a business.
• 27:52
  SPEAKER_00: And that includes hiring people to do the work so that you can focus on the big stuff.
• 27:57
  SPEAKER_00: If you become the CEO of your own business, guess what?
• 28:01
  SPEAKER_00: You're actually gonna have a profitable business.
• 28:03
  SPEAKER_00: You'll actually have a shot at building wealth, enjoying yourself, having some some work-life balance, whatever the hell that is.
• 28:10
  SPEAKER_00: You know, you'll actually have a shot if you if you act like the CEO of your real estate business.
• 28:16
  SPEAKER_00: Hopefully, this episode and our previous ones are helping you get a little closer.
• 28:20
  SPEAKER_00: If you want to link up and partner with me and join my team, and I will be your coach and I will be your partner and help you do this personally, let's talk.
• 28:29
  SPEAKER_00: Okay, let's talk.
• 28:30
  SPEAKER_00: It does not matter where you're at.
• 28:32
  SPEAKER_00: If you are a real estate agent with an active license, let's talk about joining the team and uh becoming partners.
• 28:38
  SPEAKER_00: So reach out at MastiveAgent on Instagram and Facebook.
• 28:41
  SPEAKER_00: Thank you guys so much.
• 28:42
  SPEAKER_00: Have an amazing weekend.
• 28:43
  SPEAKER_00: Go sell some homes, go close some loans, take care of the city.