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The NEW Opportunities Agents Have in This Market · Massive Agent Podcast

0:00
SPEAKER_00: This new market brings so many opportunities to agents, right?
0:03
SPEAKER_00: I mean, you hear it all the time, every day, and that's right, there are so many opportunities.
0:08
SPEAKER_00: But what are those opportunities?
0:10
SPEAKER_00: Exactly.
0:11
SPEAKER_00: What should agents be looking for and excited about in this new market?
0:16
SPEAKER_01: The massive agent podcast.
0:19
SPEAKER_01: We need generation tips and strategies to give you more leads and sell more homes.
0:24
SPEAKER_00: I love to buy houses.
0:25
SPEAKER_00: I like to sell houses.
0:29
SPEAKER_01: Wait a minute.
0:31
SPEAKER_01: Leads a week.
0:33
SPEAKER_01: I've had better.
0:35
SPEAKER_01: Oh I got your attention now.
0:38
SPEAKER_01: Here's your host, Dustin Brome.
0:42
SPEAKER_00: What is up, guys?
0:43
SPEAKER_00: Welcome to episode 255 of the Massive Agent Podcast.
0:47
SPEAKER_00: I am your host, Dustin Brohm, and today we're diving into exactly what those opportunities are.
0:52
SPEAKER_00: You hear it all the time from me and many others that this new market has brought so many new opportunities for agents.
1:00
SPEAKER_00: And you guys, agents, should be super excited about it.
1:04
SPEAKER_00: There are so many silver linings.
1:05
SPEAKER_00: Like the economy and the interest rates and all the shit, like that is what it is.
1:10
SPEAKER_00: Like there, whether whether we have positive, growth-minded attitudes or not, it doesn't change the situation.
1:17
SPEAKER_00: Rates will still be what they are, the market will still be what it is.
1:21
SPEAKER_00: But how we approach it every day, how you approach your just how you think about like when you wake up in the morning, are you gonna are you gonna kick some ass?
1:31
SPEAKER_00: Are you gonna grow your business?
1:32
SPEAKER_00: Are you going to make progress?
1:33
SPEAKER_00: Are you gonna build something?
1:34
SPEAKER_00: Or are you going to fall victim to market conditions?
1:38
SPEAKER_00: That's totally up to you.
1:39
SPEAKER_00: It completely up to up to you.
1:41
SPEAKER_00: And and whatever your choice is, it doesn't affect what's going on with the market and with rates.
1:48
SPEAKER_00: It just doesn't.
1:49
SPEAKER_00: So may as well, may as well choose a growth-minded attitude, a growth-minded mindset and approach to things.
1:57
SPEAKER_00: So let's talk about that.
1:58
SPEAKER_00: There's all these opportunities out there, right?
2:00
SPEAKER_00: Yes.
2:01
SPEAKER_00: But what the hell are they?
2:04
SPEAKER_00: Before we jump into that, right now, with everything changing so fast in the market, you really need data on your side.
2:10
SPEAKER_00: You need to understand what the hell is happening, what it means, and then also how to communicate all of that to the consumer.
2:17
SPEAKER_00: What does all of this change and the shifting market and the high interest rates and the Federal Reserve and all this stuff?
2:23
SPEAKER_00: What does that actually mean to a buyer, to a real estate investor, to a seller?
2:28
SPEAKER_00: You need to learn how to communicate that.
2:30
SPEAKER_00: And some of that is visually with graphics and and and all of that.
2:33
SPEAKER_00: So the best source of information that I've seen for this is broke agent media and keeping current matters.
2:39
SPEAKER_00: KCM, keeping current matters, is they are on top of all the nerdy shit, all the stats, so that you don't have to, and you can just use them to find out okay, what do I need to know personally as an agent?
2:52
SPEAKER_00: And then what do I need to communicate and how do I do it effectively to my clients?
2:56
SPEAKER_00: And because our show, the Massive Agent Podcast, is now part of the Broke Agent Media Network, which is awesome, uh, we are able to extend the uh the discount for Broke Agent Media for trying KCM.
3:09
SPEAKER_00: All you have to do is go to trykcm.com slash bam b-am.
3:15
SPEAKER_00: It's crazy I have to spell that out, but who knows?
3:17
SPEAKER_00: Maybe you might use two amps.
3:18
SPEAKER_00: Try KCM.com slash BAM and uh and go see what keeping current matters is doing for agents.
3:25
SPEAKER_00: I'm telling you, it's a cheat code and it's you're buying your time.
3:28
SPEAKER_00: You're buying your time and you're just getting a head start and uh and like all of a sudden you're infinitely more knowledgeable than 99% of the other agents just by using keeping current matters.
3:39
SPEAKER_00: And also, speaking of being more effective and you know, better equipped to kick some ass uh than 99% of agents.
3:48
SPEAKER_00: If you're using follow-up boss, same deal.
3:50
SPEAKER_00: Okay, follow-up boss.
3:52
SPEAKER_00: If you talk to any high-performing agent, the vast majority of them, nine out of ten times, they're all using follow-up boss, a solo agent who's kicking ass, a team leader, uh independent brokerage, they're all using follow-up boss.
4:05
SPEAKER_00: So quit like trying to re-recreate the wheel.
4:08
SPEAKER_00: Just go see why follow-up boss is so effective to help agents to grow their business.
4:13
SPEAKER_00: All you have to do is go to massive agentpodcast.com slash follow up boss, and they will give you a 30-day free trial, no credit card required.
4:22
SPEAKER_00: They don't even ask for it.
4:24
SPEAKER_00: Um, all you got to do is use the link.
4:26
SPEAKER_00: If you go to their website, it's only a 14-day trial.
4:28
SPEAKER_00: But because you are a listener of the show, 30 days for free, make sure you actually try it out.
4:33
SPEAKER_00: Get some traffic, get some contacts going in there, set up the tasks, use the mobile app.
4:39
SPEAKER_00: They have a true, like literal, actual mobile app that kicks ass.
4:43
SPEAKER_00: So when you leave a listing presentation, you can just pop on there, leave a bunch of notes so that next time you talk to that seller, you know exactly all the details that you just went over, and stuff is not falling through the cracks.
4:54
SPEAKER_00: Follow up boss has plugged all the cracks.
4:57
SPEAKER_00: There are no cracks.
4:58
SPEAKER_00: So go see for yourself.
4:59
SPEAKER_00: MassiveAgent Podcast.com slash follow up boss.
5:03
SPEAKER_00: And lastly, I want you guys to learn how how one agent in Iowa that we're working with, she got nine deals under contract in just 45 days.
5:12
SPEAKER_00: And even in a recession, okay, she didn't cold call, she didn't door knock, she didn't pay Zillow, she wasn't pointing at words on TikTok, none of that.
5:21
SPEAKER_00: And she just followed a specific framework, a specific blueprint, and you can find out all about that over at MassiveAgenSociety.com.
5:29
SPEAKER_00: All right, guys.
5:30
SPEAKER_00: Earlier today, we had our our weekly team um team meeting, our team zoom call, and what what we talked about was which opportunities are available.
5:41
SPEAKER_00: Like what should you be looking for?
5:42
SPEAKER_00: What should you be taking advantage of?
5:44
SPEAKER_00: Because I just I most of the people that I'm connected with on social, like 99% of people that I'm connected with, they're all real estate professionals, agents, loan officers, some title people, but pretty much everyone who isn't a family member of mine, they're all in real estate.
6:00
SPEAKER_00: So I that's all I see is real estate content for the most part.
6:03
SPEAKER_00: I do I branch out and I follow entrepreneurial content and you know all this other stuff, business-related shit, a bunch of golf stuff pops up and pops into my feed quite often, by the way.
6:13
SPEAKER_00: But um, I just noticed that there's a lot of messaging that, hey, there's so much opportunity, there's so much opportunity, but then it ends there and it's it's we're kind of left hanging.
6:23
SPEAKER_00: And I understand if you're like, okay, great, there's opportunity, but what?
6:27
SPEAKER_00: What does that even look like?
6:29
SPEAKER_00: So that's why you're listening to the show, thank God.
6:31
SPEAKER_00: And that's what we're we're gonna dive into, like what those opportunities actually are.
6:34
SPEAKER_00: And we went over this in our team call, and it was so um, I just thought it was so helpful, and I don't want to just I don't want to keep it behind closed doors.
6:43
SPEAKER_00: I want you guys to have this information as well because right now is separation season.
6:48
SPEAKER_00: This is this is separation season.
6:50
SPEAKER_00: This is the time for you to separate yourself from your competitors and from your former self, from your current self.
6:57
SPEAKER_00: Okay, if you do the right things and you do them consistently and you do it with the right energy and the right mindset and attitude, you will be separating yourself in a good way from who you are today and who you have been this year.
7:10
SPEAKER_00: And you will come out of this recession or downturn or shift or whatever the hell you want to call it, and you're going to not just be, you're just not gonna, you won't only have sold more homes, you're gonna be more profitable, you're gonna be more fulfilled, you're gonna be happier, you're gonna be healthier, you're gonna be all of these things.
7:26
SPEAKER_00: And this is not bullshit.
7:27
SPEAKER_00: Okay, I'm not overstating things.
7:29
SPEAKER_00: If you switch your mindset and are focusing on the right things, and then you do the work, I promise you, all of those things are possible.
7:38
SPEAKER_00: Everything that you want is on the other side of some hard work.
7:42
SPEAKER_00: Every single thing that you want, everything you've ever desired, is on the other side of your comfort zone.
7:49
SPEAKER_00: It's on the other side of action, it's on the other side of a mindset shift.
7:53
SPEAKER_00: So we're gonna help you give you a little head start, give you, you know, point you in the right direction for exactly what you should be excited about.
8:00
SPEAKER_00: So I'm gonna break this up into three different things.
8:01
SPEAKER_00: Okay, so so many opportunities for who?
8:05
SPEAKER_00: Okay, we're gonna talk about the opportunities for sellers so that you guys know how to communicate what is so great about this new market to your sellers.
8:13
SPEAKER_00: We're gonna talk about from a buyer's perspective and then from your perspective, from a real estate agent and real estate professional's perspective.
8:21
SPEAKER_00: All right, so sellers, yes, um, there are a lot more homes on the market.
8:27
SPEAKER_00: Homes are taking longer to sell, and you're not able to get 300k over asking price anymore, you know, not like before.
8:34
SPEAKER_00: But guess what?
8:35
SPEAKER_00: Sellers are still able to sell their homes for around or you're still very close to all-time highs.
8:43
SPEAKER_00: Okay, it's not it's not like your home has lost 30% of its value.
8:47
SPEAKER_00: Your sellers are still able to sell pretty damn close to all-time highs, but then they're able to buy with more flexibility.
8:55
SPEAKER_00: Okay, yes, they're paying more for it, they're they're gonna have a higher interest rate, but you're gonna be able to get more concessions from another seller if you are then selling and buying yourself.
9:06
SPEAKER_00: Okay, you're probably gonna be able to get some concessions, a rate buy down, which are huge right now.
9:11
SPEAKER_00: You if you guys are not working with a lender who is screaming from a mountaintop about rate buy downs, whether that's the two-one buy down or just a straight across the board, like giving the getting a concession from the seller to buy down the interest rate so that it's so that it's low for the the whole length of the mortgage, you need to find a new lender.
9:30
SPEAKER_00: It's such a big deal right now.
9:31
SPEAKER_00: When rates are you know seven, eight, nine percent, why wouldn't they be teaching you how you can get that rate one or two percent lower?
9:41
SPEAKER_00: It's just in insane.
9:42
SPEAKER_00: So make sure that you're working with the right lender.
9:44
SPEAKER_00: It's more important now than than it ever has been.
9:47
SPEAKER_00: When rates are super freaking low and you know, you just have to fog a mirror and you can get a loan done.
9:53
SPEAKER_00: It's hard to tell who the great ones are, but right now you're able to tell if your if your um lending partner is up to snuff.
10:01
SPEAKER_00: You're able to tell if if they're worth a damn.
10:03
SPEAKER_00: And if not, find a new one because there are so many great lenders out there, so many great brokers and and and loan officers who just they kick so much ass, and hopefully they're kicking that ass for your clients and for you.
10:15
SPEAKER_00: So audit those partnerships, audit those relationships.
10:19
SPEAKER_00: Um but the rate buy downs are huge.
10:22
SPEAKER_00: Okay, you if it this was eight months ago and you asked the seller, hey, can we we need$15,000 uh in concessions so we can buy down our interest rate, they would have laughed you out of the fucking building.
10:33
SPEAKER_00: They've been like$15,000.
10:35
SPEAKER_00: Like, you why don't you give us$15,000 for wasting our time, Dick?
10:39
SPEAKER_00: Like, that's how the conversation would have gone eight months ago, but different world.
10:43
SPEAKER_00: So that is that's available for sellers who are selling and buying.
10:48
SPEAKER_00: So buyers, same deal.
10:50
SPEAKER_00: Yes, it's a little bit more expensive.
10:51
SPEAKER_00: They're gonna have they're gonna be paying more for the same thing, but they're having fewer buyers to compete with.
10:59
SPEAKER_00: So buyers a lot of times are actually able to think on it overnight for once.
11:03
SPEAKER_00: Isn't that crazy?
11:04
SPEAKER_00: They don't have to make an offer on the spot anymore.
11:07
SPEAKER_00: Now, they probably should if it's the right house, absolutely.
11:11
SPEAKER_00: But when you're only competing with one or two other offers instead of 37, uh, you can take a minute, you can think about it, you know.
11:19
SPEAKER_00: And and a lot of buyers, especially first-timers, they need that to feel comfortable.
11:24
SPEAKER_00: Don't try to beat them up so bad or force them into you know, make this offer right now, or you're gonna lose everything and your life's gonna suck.
11:31
SPEAKER_00: Because guess what happens when you do that with first-time buyers who literally just need a minute to wrap their head around the whole deal because it's, you know, their first home purchase, they're gonna feel like you are not the right advisor for them.
11:43
SPEAKER_00: They're gonna feel like you're not an advisor at all.
11:45
SPEAKER_00: They're going to feel like you're just an asshole who's trying to push them into buying whatever house pops up so that you can make a commission check.
11:52
SPEAKER_00: I'm not saying that that's accurate, but that's sure as hell what they think when you're pushy and you force them uh a little bit too hard into making an offer on the spot.
12:02
SPEAKER_00: Just be careful.
12:03
SPEAKER_00: Just something to consider.
12:04
SPEAKER_00: It doesn't mean that you're wrong either, that hey, you need to make an offer right away, but give them a minute because sometimes they just need a freaking minute.
12:13
SPEAKER_00: Maybe that minute is an hour, maybe it's two hours, maybe it's a night.
12:16
SPEAKER_00: I don't know.
12:17
SPEAKER_00: Educate them, but don't push too hard because you could be pushing them away and they may feel like you are nothing more than a used car salesman.
12:25
SPEAKER_00: No bueno.
12:26
SPEAKER_00: So less competition, okay, less competition with other buyers.
12:30
SPEAKER_00: That's amazing.
12:31
SPEAKER_00: Um, you can get those rate buy downs that we talked about.
12:34
SPEAKER_00: So the the two one buy down that's super popular, you're seeing a bunch of social media videos about where you can have the rate two percent lower for the first year, one percent lower the next year, and then then the rate goes back to whatever it currently is, or just have the rate bought down across the board.
12:50
SPEAKER_00: So instead of a 7.2% rate, you buy it down to 6% or 5.5 or whatever, and then it's just that rate for the term of the loan.
12:58
SPEAKER_00: Amazing.
12:59
SPEAKER_00: You can actually get concessions.
13:00
SPEAKER_00: Isn't that amazing that now buyers are actually able to inspect the fucking house?
13:06
SPEAKER_00: What a nice luxury that is.
13:08
SPEAKER_00: You can actually inspect the house that you're about to drop hundreds of thousands of dollars, if not millions of dollars, on.
13:15
SPEAKER_00: Wow.
13:16
SPEAKER_00: It's crazy that that even that that that inspections were even not happening.
13:22
SPEAKER_00: Absolutely fucking bonkers.
13:24
SPEAKER_00: Uh, but you can get inspections again and the sellers are not weird about it.
13:27
SPEAKER_00: You can ask for repairs.
13:29
SPEAKER_00: One of our agents up in Oregon was telling us how he got 12,$12,000 or$15,000 in concessions from the sellers for a re a rate buy down, and they agreed to like six out of seven repairs.
13:41
SPEAKER_00: That's amazing because the sellers, most of them, a lot of them, they know what time it is.
13:46
SPEAKER_00: They know that the market shifted.
13:48
SPEAKER_00: They're seeing they're seeing, okay, we don't have 37 offers, we have two.
13:52
SPEAKER_00: And so they're like, okay, we need to give a little bit.
13:55
SPEAKER_00: We need to be more reasonable and and not, you know, cut people off and say, look, take it or leave it.
14:02
SPEAKER_00: This is our way.
14:03
SPEAKER_00: Um, because that that's what was happening.
14:06
SPEAKER_00: So buyers have more flexibility.
14:08
SPEAKER_00: You can get more, um, even though you're paying a little bit more for it, it is what it is.
14:14
SPEAKER_00: So that's awesome.
14:16
SPEAKER_00: Let's talk about, and by the way, before we get to you guys and the opportunities for agents, which is going to be quite a long list.
14:22
SPEAKER_00: Oh, by the way, a list that you're going to want to take notes of, especially the thought the ideas that come into your head when I'm going through this list.
14:30
SPEAKER_00: Before I go there, when it comes to the opportunities for buyers and sellers, and I'm sure there's a bunch of stuff that I didn't even mention, make sure that you're not just like understanding it yourself and keeping all that shit inside your head.
14:43
SPEAKER_00: Like, that's great that you know it, but you need the buyers, you need the sellers to understand it.
14:49
SPEAKER_00: You need the buyers and the sellers to know that shit.
14:52
SPEAKER_00: So, how are they gonna know that shit if you don't tell them?
14:55
SPEAKER_00: You see how simple this is?
14:56
SPEAKER_00: It's not just about you need to create content.
14:59
SPEAKER_00: You need to teach buyers and sellers what's happening, you need to teach them how to be a well-educated buyer or seller.
15:08
SPEAKER_00: Because if they're if not if they're not gonna learn from you, they're gonna learn from somebody else, and hopefully they're learning accurate shit.
15:15
SPEAKER_00: I mean, how many times have you met a a client, maybe they they had another agent or you know, whatever, and they're like, hey, well, we actually heard this, and you're like, what?
15:24
SPEAKER_00: You heard what like ridiculous shit.
15:27
SPEAKER_00: Well, not everyone gives great advice, so make sure that you are, and if you do have great advice, you'd better be screaming it from a mountaintop.
15:37
SPEAKER_00: That mountaintop is a post on social media.
15:40
SPEAKER_00: That's what our mountaintops look like in 2022 and beyond.
15:46
SPEAKER_00: Social media posts, okay?
15:48
SPEAKER_00: Talk about this shit.
15:49
SPEAKER_00: Do it in an Instagram reel, do it in a TikTok, do it in a YouTube video, do it in a podcast, do it in a story, whatever.
15:55
SPEAKER_00: Just make sure that you are educating buyers and sellers.
16:00
SPEAKER_00: That is, by the way, your job.
16:03
SPEAKER_00: Your job is to be an advisor, a coach, a teacher.
16:06
SPEAKER_00: Why did I say that weird?
16:07
SPEAKER_00: A teacher, not a teacher.
16:09
SPEAKER_00: This isn't like a real tour.
16:10
SPEAKER_00: You are a teacher that's trademarked.
16:13
SPEAKER_00: You're a teacher.
16:15
SPEAKER_00: Yeah.
16:17
SPEAKER_00: So, you guys who do that effectively, the opportunity in that is that you are going to get more business and gain more trust with so many more consumers in your market than you would have before, because in this time of uncertainty where shit's changing so fast and the Fed is just like, oh, here's another 0.75%, here's another point.
16:38
SPEAKER_00: Can't even fucking keep up with this shit.
16:40
SPEAKER_00: Well, neither the if agents can't keep up with this shit, neither can consumers for God's sakes.
16:44
SPEAKER_00: They're listening to fucking CNN and CNBC and they have no idea what's happening.
16:48
SPEAKER_00: And even worse, they're just getting their news from Twitter or their Facebook feed.
16:52
SPEAKER_00: I mean, fuck me.
16:54
SPEAKER_00: Are you the I mean you can get some good shit there, but you can also get some very misleading, very incomplete, very uh just wrong shit there.
17:05
SPEAKER_00: So help them.
17:07
SPEAKER_00: Okay, you can grow your business just by being the most articulate and the best advisor on these things.
17:14
SPEAKER_00: So let's continue the opportunities for agents, shall we?
17:18
SPEAKER_00: Uh there's a stat, and goddammit, I still have to find out exactly I need to find the link for this, but I'm pretty sure that this came from NAR, or it was um maybe it was Mike Delpredi, who uh an industry analyst.
17:30
SPEAKER_00: But I saw that an estimated 40% of real estate agents will leave the industry during this shift, this downturn, this recession, this whatever the fuck.
17:41
SPEAKER_00: 40% of agents.
17:43
SPEAKER_00: That means four out of ten agents that you've ever come across may not be here in 18 months.
17:49
SPEAKER_00: They may be doing something else, like making soap or doing construction, or they're doing somebody's taxes, or they're a dental assistant, or they start their own business elsewhere.
17:58
SPEAKER_00: Okay, start their own business making soap.
18:01
SPEAKER_00: I don't know why I love that example so much, but I just do.
18:03
SPEAKER_00: Artisan soap.
18:04
SPEAKER_00: Have you ever seen how fucking expensive this uh artisan soap shit is?
18:10
SPEAKER_00: Like you go into a Whole Foods or a Harman's or what you know, a farmer's market, and you're like, wait,$12 for some soap because they put some flower petals in it?
18:19
SPEAKER_00: What the fuck?
18:20
SPEAKER_00: Maybe we're all in the wrong business.
18:22
SPEAKER_00: Maybe we all need to be making soap.
18:23
SPEAKER_00: Anyways, I digress a lot, by the way.
18:26
SPEAKER_00: I digress a lot.
18:28
SPEAKER_00: Your competition will be thinning out.
18:30
SPEAKER_00: So all of these posts you're doing, or should be doing, and will be doing, all of these posts, all of this educating and informing and advising consumers, you're gonna be able to get it seen more because you're going to have fewer agents doing it.
18:48
SPEAKER_00: Isn't that awesome?
18:49
SPEAKER_00: See, right now I think uh I think that there's been less real estate content being done because agents are already leaving the industry.
18:57
SPEAKER_00: But those who are still here, maybe some of you guys, if you're a little bit less busy, you have more time to be doing content, as you should.
19:04
SPEAKER_00: You need to be increasing the shit out of your visibility.
19:07
SPEAKER_00: And what visibility looks like is the same as the mountaintop.
19:11
SPEAKER_00: Okay, the mountaintop and the visibility, social media.
19:14
SPEAKER_00: So if you are using some of that extra time, the free time, the whatever you want to call it, this time that you have freed up now that you are working with fewer people or have a little thinner database, a thinner pipeline, and you're doing social media posts, that's great.
19:29
SPEAKER_00: So you may actually be seeing more real estate content, but that's only gonna last so long because some people are just they're they're gonna give up.
19:36
SPEAKER_00: They're just not gonna be able to survive.
19:38
SPEAKER_00: So at some point in the very near future, your content, uh assuming that you stay consistent with it, it's gonna start performing better.
19:47
SPEAKER_00: You're gonna be reaching more people, it's going to uh you're gonna be growing your audience because there are fewer agents putting out similar stuff.
19:57
SPEAKER_00: So yours will be seen more.
19:58
SPEAKER_00: That's pretty amazing.
20:00
SPEAKER_00: Like that's a pretty damn big silver lining.
20:03
SPEAKER_00: Okay, you're when you have less competition, that means that when you go to a listing presentation, you're you're gonna get fewer situations where cousin Bobby just got their real estate license, and you know they thank you so much for your CMA and your expertise and from your time, but we're gonna go with cousin Bobby because they're they're our cousin, so we feel obligated.
20:25
SPEAKER_00: Well, cousin Bobby is probably gonna be making soap, so um you're gonna be getting more deals.
20:33
SPEAKER_00: It when you stick through the hard times and you do the right things and you stay consistent, you just win.
20:42
SPEAKER_00: You you just win.
20:43
SPEAKER_00: It it it really is simple.
20:45
SPEAKER_00: So you will have fewer agents to compete with.
20:50
SPEAKER_00: That's pretty awesome.
20:51
SPEAKER_00: Okay.
20:52
SPEAKER_00: Um another opportunity, you as an agent will have an opportunity, more so now, to buy your own investments, to get into real estate investing, whether you want to buy and hold some rentals.
21:05
SPEAKER_00: See, look, if prices come down, when prices come down, whatever, uh, that just means they're going on sale.
21:12
SPEAKER_00: If here's what's crazy I hear this all the time.
21:16
SPEAKER_00: Man, I wish I would have bought homes back in 2009 or or 2010 after after the shit crashed.
21:23
SPEAKER_00: Yeah, and honestly, I feel the same way.
21:25
SPEAKER_00: I wish I would have bought a a thousand homes back then, but I didn't.
21:29
SPEAKER_00: You hear that all the time.
21:30
SPEAKER_00: Well, we forget about okay, if homes go on sale 30, 40%, what does that mean?
21:38
SPEAKER_00: Oh, the Great Recession.
21:40
SPEAKER_00: So that means to get the homes at that price, you have to also deal with the Great Recession and all the job loss and all the shit that that happened then.
21:50
SPEAKER_00: Now, that was also when some of the biggest companies, most valuable companies, most influential companies and businesses on earth were started.
21:58
SPEAKER_00: Weird that Historically, most millionaires are actually created during recessions versus during bull markets.
22:05
SPEAKER_00: Hmm.
22:06
SPEAKER_00: Maybe something you might want to focus on there.
22:09
SPEAKER_00: Interesting.
22:12
SPEAKER_00: So to get the homes on sale, to get you know fewer agents to compete with, to get to have the ability to get your offers accepted, to get have your clients' offers accepted more often, you have to also deal with the market conditions that make that possible.
22:27
SPEAKER_00: So literally, the market that we're in right now, how many of you guys were cursing the fact that, oh my God, I just we just need this to cool off.
22:35
SPEAKER_00: I need a more balanced market.
22:36
SPEAKER_00: I'm I can't get my clients' offers accepted.
22:39
SPEAKER_00: I'm dealing with you know 42 other offers, and we're having to make 42 offers just to get one accepted.
22:44
SPEAKER_00: I hate this.
22:45
SPEAKER_00: I want a balanced market.
22:47
SPEAKER_00: Well, guess what?
22:48
SPEAKER_00: You've got it.
22:49
SPEAKER_00: This is literally what you've been hoping for.
22:51
SPEAKER_00: This is what you've been asking for, this is what you've been praying for, this is what it looks like.
22:55
SPEAKER_00: But most people don't want to they just want like all the rosy shit, like, oh, I still want it to be a bull market, but just, you know, everything else is nice.
23:03
SPEAKER_00: It doesn't work that way.
23:04
SPEAKER_00: This is the market that so many of you were praying for six to eight months ago.
23:10
SPEAKER_00: It's now here.
23:11
SPEAKER_00: This is what it looks like.
23:12
SPEAKER_00: It's not that bad.
23:14
SPEAKER_00: It's actually pretty fucking awesome if you have the right approach, if you have the right mindset and you're focused on the right shit.
23:22
SPEAKER_00: So, as I was saying about real estate investment, you have an opportunity now to maybe get some homes, uh, actually buy an investment property where you couldn't compete before, or you'd have to pay way too much and it wouldn't make much sense.
23:35
SPEAKER_00: So there's seller financing that I'm hearing about more often.
23:38
SPEAKER_00: If you're if you're like, well, the interest rates make it so that I I can't cash flow anything.
23:43
SPEAKER_00: Well, I'm seeing a lot more properties that are now offering seller financing.
23:47
SPEAKER_00: Isn't that interesting?
23:48
SPEAKER_00: So then you're basically getting the interest rate that the seller has, which might be two and a half, it might be three and a half.
23:55
SPEAKER_00: That's pretty interesting.
23:56
SPEAKER_00: The house that I sold, or the house that uh my family and I lived in, you know, we sold back in March.
24:02
SPEAKER_00: We had uh like I think our rate was two point, I'm sorry, three point two.
24:07
SPEAKER_00: Yeah, three point two.
24:09
SPEAKER_00: So if we would have done seller financing, someone basically would have been getting that rate.
24:13
SPEAKER_00: You can there's creative financing options, there's seller financing, there's all sorts of stuff.
24:18
SPEAKER_00: So you just have to maybe learn a few things.
24:20
SPEAKER_00: You're going to be able to pick up more properties for buy and hold or even flips in this market than you were in the super crazy hotbull market.
24:29
SPEAKER_00: That's a pretty big opportunity.
24:31
SPEAKER_00: And when you are investing, and when you are in that game, you're gonna be able to um relate with your clients a hell of a lot more.
24:39
SPEAKER_00: If you have an investor client and then you've never invested before, and you've you if you have a client who's looking to flip a property and you've never flipped a property yourself, you're just not gonna be able to advise them nearly as well as someone who's flipped a few homes.
24:55
SPEAKER_00: It it is what it is.
24:56
SPEAKER_00: Like it and if you've never bought a house before, you I mean you can still do a great job at as a buyer's agent, but you you miss a few things.
25:05
SPEAKER_00: There's just there's some maybe it's just the emotional part or dealing with the stress or the ups and downs or whatever that you just can't relate with if you've never actually gone through the process yourself.
25:15
SPEAKER_00: So get into the investment game uh because it's gonna help you relate with investors that much more, which will help you make a shitload more money and sell more homes.
25:24
SPEAKER_00: It's just the way it is.
25:26
SPEAKER_00: So look, I want you guys to understand this as well.
25:30
SPEAKER_00: In this market, in this economy, he who creates the most conversations wins.
25:38
SPEAKER_00: He who has seen the most wins.
25:41
SPEAKER_00: Okay.
25:42
SPEAKER_00: If you focus right now with this extra time you have, and if you don't have extra time, then you're just creating more time, okay, or hiring to free up more time.
25:53
SPEAKER_00: Regardless, you got to get this shit done.
25:55
SPEAKER_00: But you need to be getting more content out there, you need to be doing it consistently and it putting it as in as many places as possible.
26:02
SPEAKER_00: Use the repurpose like we talked about in the last episode, okay?
26:05
SPEAKER_00: Massive agentpodcast.com slash repurpose so that you post in one place and then it sends it everywhere.
26:12
SPEAKER_00: For example, you post an Instagram reel and then it strips the watermark and it posts it on TikTok and it post it on LinkedIn and it post it on Facebook reels and it post it on YouTube Shorts.
26:21
SPEAKER_00: You can automate all that shit.
26:23
SPEAKER_00: Repurpose.
26:24
SPEAKER_00: MassiveAgent Podcast.com slash repurpose.
26:27
SPEAKER_00: Check it out.
26:27
SPEAKER_00: It's kind of cool.
26:28
SPEAKER_00: I'm using it for some of my workflow whenever I post.
26:32
SPEAKER_00: So that can free up more time and get more done.
26:34
SPEAKER_00: But that's what you need to do.
26:37
SPEAKER_00: That's when you do that, you are you are getting more mind share.
26:42
SPEAKER_00: Okay, you're being seen more.
26:43
SPEAKER_00: And visibility and increasing the visibility is the game in this market.
26:48
SPEAKER_00: If you do that now, as things start to recover, as rates come back down and things start to you're going to be known so much more, you're going to be trusted so much more, and you're going to start getting a shitload of business.
27:00
SPEAKER_00: But you're you have to build the foundation now.
27:03
SPEAKER_00: Here's what's great.
27:04
SPEAKER_00: While you build the foundation, you're still getting business.
27:07
SPEAKER_00: You should still have activity coming in.
27:09
SPEAKER_00: You should still be growing your email list.
27:11
SPEAKER_00: You should still be having more conversations, and more people should be learning who you are and learning from you and referring you to others while you're building the foundation.
27:20
SPEAKER_00: It's not like you have to build the whole thing and then wait till later for the for the results.
27:24
SPEAKER_00: Like no, you can be getting results all along the way.
27:26
SPEAKER_00: It's pretty amazing.
27:28
SPEAKER_00: Another huge opportunity for agents is if you are a little bit slower, you have the time now to put some systems in place.
27:38
SPEAKER_00: Maybe you've been, maybe you don't have a CRM, but and you you've just been too busy to implement one.
27:43
SPEAKER_00: Well, go get follow-up boss.
27:44
SPEAKER_00: Go get your 30-day free trial of follow-up boss.
27:47
SPEAKER_00: Do that.
27:48
SPEAKER_00: Now you have time.
27:49
SPEAKER_00: Now you have time to watch some video tutorials and learn how that shit works.
27:52
SPEAKER_00: That's a pretty big deal.
27:54
SPEAKER_00: Because when you use something like Follow Up Boss and have systems in place, you'd be surprised at how much more effective and efficient you can be, and very few things fall through the cracks, and you just start closing more deals because you're just on top of shit and everyone's being served in an efficient, timely manner.
28:12
SPEAKER_00: If you're if you're too busy and you just you're just like, oh my god, you know, trying to um keep your head above water, you can't implement stuff like this.
28:20
SPEAKER_00: It's really hard to launch new ad campaigns.
28:24
SPEAKER_00: We were talking with one of our agents today in our in our team meeting, and he went back to the basics.
28:30
SPEAKER_00: He went to this list of this whole list of seller leads that he got months and months and months ago in a totally different market.
28:37
SPEAKER_00: He got all these seller leads and he thought that they were shit.
28:40
SPEAKER_00: But he has their phone numbers, he has their email address, he had no addresses.
28:44
SPEAKER_00: So he went out and did, excuse me, he uses follow-up boss, he uses a he uh implemented a text campaign where he just started um reaching out asking if they're still planning on selling their house in 2023 or 2022, whatever.
28:58
SPEAKER_00: And and he started to re-engage some of these some of these sellers, and then he started to get addresses, and he got a listing.
29:04
SPEAKER_00: He got he already got a listing from this list of uh from all these leads that he thought were shit.
29:11
SPEAKER_00: But he he now had time to go back and reevaluate and re-engage.
29:16
SPEAKER_00: That's a big deal.
29:18
SPEAKER_00: So your downtime, okay, you're slow.
29:21
SPEAKER_00: If you are slow and slowing down, so many of you get freaked out and scared and worried.
29:26
SPEAKER_00: But I'm telling you, if you do the right things and you make the most of that time, the slowdown is a huge blessing.
29:34
SPEAKER_00: The slowdown is a huge blessing.
29:36
SPEAKER_00: Do not sleep on that.
29:39
SPEAKER_00: The opportunities right now are to increase your visibility with less competition.
29:44
SPEAKER_00: You're gonna be able to help your buyers out even more.
29:48
SPEAKER_00: Your sellers are gonna be able to still sell at all-time highs and and then be able to have more flexibility on their buy side.
29:56
SPEAKER_00: And then I'm telling you, with the right mindset, this will be the greatest market shift that's ever happened to you.
30:03
SPEAKER_00: And it really comes down to whether or not you decide that that's the case.
30:07
SPEAKER_00: If you decide that that's the case, I challenge you to look in the mirror today.
30:11
SPEAKER_00: If you're driving, look in the rearview mirror.
30:13
SPEAKER_00: If you're if you're at home or at the office, go to the bathroom, look in the damn mirror.
30:16
SPEAKER_00: Okay, or even just look at your phone.
30:18
SPEAKER_00: Turn the camera on, selfie camera, look at yourself.
30:22
SPEAKER_00: And just decide.
30:24
SPEAKER_00: Make the commitment to yourself that you decide to take full advantage of all the greatness, all the opportunities, all the silver linings that are now available today to you that were not available eight months ago.
30:38
SPEAKER_00: As long as you make that shift and make that commitment and then stick with the daily actions that are required and you do it consistently, you could quite literally be changing your family tree forever.
30:50
SPEAKER_00: Your kids are watching.
30:51
SPEAKER_00: Your kids are watching how you deal with adversity.
30:53
SPEAKER_00: They're watching what you do on a daily basis.
30:56
SPEAKER_00: You're gonna be changing their lives and and you know, cementing their behavior and how they uh, you know, who they are as people.
31:03
SPEAKER_00: You're gonna be changing your family tree financially.
31:06
SPEAKER_00: You're gonna be setting yourself up for wealth if you start doing the right things today.
31:11
SPEAKER_00: Or if you choose to let fear and worry and doubt and headlines and all the bullshit, if you let that overpower your own willpower, then you're not gonna be in real estate.
31:23
SPEAKER_00: You will be leaving this industry to go do something else.
31:27
SPEAKER_00: Some of you just aren't meant to be in real estate, and that's totally fine.
31:30
SPEAKER_00: But for you who are committed to it and you're determined to make shit happen, this is a much better time to make that shit happen now than it was eight months ago.
31:39
SPEAKER_00: But you have to decide for yourself that that's true, and then do this do the shit that's required.
31:45
SPEAKER_00: Hope you have a great weekend.
31:47
SPEAKER_00: Please share this episode with any agent you feel would get value from it.
31:51
SPEAKER_00: If you found this valuable, please share it with your broker, share it with your team, share it with some friends of yours, help us to grow the show.
31:57
SPEAKER_00: We'll keep coming back with new episodes every single week for free.
32:01
SPEAKER_00: And all we ask is that you help us to reach new people and make an impact on more agents because they need it right now more than ever, because headlines can be scary, headlines can freak you out.
32:12
SPEAKER_00: But I'm telling you, it's everything that's happening is happening for you as long as you decide that that's the case.
32:19
SPEAKER_00: Have a great weekend.
32:20
SPEAKER_00: Take care.