Latest / Open The Gate / Ep. 13: Rico Rivera - From Humble Beginnings to Real Estate Mastery

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Ep. 13: Rico Rivera - From Humble Beginnings to Real Estate Mastery · Open The Gate

• 0:20
  Speaker 1: All right, dan, after I get started, I already hit record, so the rest is downhill.
• 0:24
  Speaker 2: All right, we're going to listen to you chomp on your gum.
• 0:27
  Speaker 1: I'll take that out here.
• 0:27
  Speaker 1: I want to put it underneath.
• 0:28
  Speaker 1: I'm putting it underneath the table like it's junior high again.
• 0:32
  Speaker 2: Yes, sir.
• 0:32
  Speaker 1: Did you ever get in trouble?
• 0:33
  Speaker 1: Like I was in trouble a fair amount.
• 0:35
  Speaker 1: I used to have to go in there and like scrape it off.
• 0:37
  Speaker 1: And then I knew there were kids who hated me, who knew I would be getting in trouble and doing that later, and they just like a whole pack of big league shoe and just smear it under there.
• 0:46
  Speaker 1: Right F you in it.
• 0:47
  Speaker 1: Cool stuff.
• 0:48
  Speaker 2: So I stepped in gum this weekend and I literally told my wife I go.
• 0:52
  Speaker 2: There is a special place in hell for people who spit their gum on the floor Like it's the worst.
• 0:57
  Speaker 2: Stepping in gum is the worst, it's horrible.
• 0:59
  Speaker 1: I would say it's pretty bad.
• 1:01
  Speaker 1: Second two and this is something I've encouraged a lot more since I started the bullies is dog shit I hate stepping in dog shit.
• 1:09
  Speaker 3: Oh, it's the worst.
• 1:10
  Speaker 1: It's the worst dude.
• 1:11
  Speaker 1: It's like I don't know why it smells so bad either, Like it's just the worst.
• 1:15
  Speaker 2: And the staying power, the ability to drag it through your whole house.
• 1:17
  Speaker 1: Yeah, they got to get some scientists on, like whatever they're doing with dog shit.
• 1:21
  Speaker 1: They got to weaponize that because it's yeah, it's, it sticks with everything and it's like camouflage, do you like?
• 1:27
  Speaker 1: You think you see it, and then, bam, yes.
• 1:29
  Speaker 1: Anyway this is what we contribute to real estate.
• 1:31
  Speaker 1: So how was?
• 1:32
  Speaker 1: How was your weekend?
• 1:33
  Speaker 1: I'm guessing you were just at home on the couch doing nothing with the kids, just soaking up the vitamin D.
• 1:38
  Speaker 2: I got a good tan.
• 1:39
  Speaker 2: This weekend we have baseball tournament.
• 1:41
  Speaker 2: My son's team won their tournament down Elk Grove, so that was.
• 1:43
  Speaker 2: That was a blast.
• 1:45
  Speaker 2: Nice Boys played well.
• 1:46
  Speaker 2: We saw some some really cool things.
• 1:48
  Speaker 2: Let's see.
• 1:50
  Speaker 2: My daughter had some volleyball stuff and I got.
• 1:53
  Speaker 2: I was well rested man.
• 1:54
  Speaker 2: I was in home.
• 1:55
  Speaker 1: You look, you look well that early both nights and you know why I didn't sleep?
• 1:59
  Speaker 1: It is it.
• 2:00
  Speaker 1: I can tell when you come in after like some kind of real estate event because, for those of you don't know, like Dan has had everything and when we show up on Mondays or whatever day it is, to film, I can tell if he had a crab feed, a realtor party anniversary, something that I before, because the guy does not let up off the gas.
• 2:16
  Speaker 2: And I don't have coffee today.
• 2:17
  Speaker 2: So no, no coffee, no energy drink.
• 2:20
  Speaker 1: You guys can't see, but Dan looks not a day over 51.
• 2:23
  Speaker 1: It looks great.
• 2:24
  Speaker 1: So well, Dan, tell us a little bit about who is joining us here today on the show.
• 2:30
  Speaker 2: Today's guest the former home warranty King DJ Rico.
• 2:38
  Speaker 2: The president and CEO of Silicon Island East Real Estate, none other than Mr Rico Rivera.
• 2:49
  Speaker 1: Well, let's play a song, Get him out here.
• 2:52
  Speaker 2: Let's go.
• 2:52
  Speaker 2: All right, rico, welcome yeah.
• 3:13
  Speaker 1: Welcome to open the gate.
• 3:15
  Speaker 2: Let's go Open the gate, brother.
• 3:17
  Speaker 2: Thank you so much again for being here, rico.
• 3:19
  Speaker 2: So let's, let's, let's jump in, dude.
• 3:21
  Speaker 2: Why started from the bottom?
• 3:22
  Speaker 2: Are we started from the bottom?
• 3:24
  Speaker 3: A lot of people don't know, man, I'm an immigrant.
• 3:26
  Speaker 3: I was.
• 3:26
  Speaker 3: I came here when I was eight years old.
• 3:28
  Speaker 1: Where'd you come from?
• 3:29
  Speaker 3: Mexico, whether the Jala Jalisco with my mom.
• 3:31
  Speaker 3: I'm actually the oldest of five kids.
• 3:35
  Speaker 3: Ok, we jumped the fence, literally jumped the fence right.
• 3:38
  Speaker 3: So immigrant jumped the fence, got caught three times, went to jail three times as an eight year old, oh, and now I'm here.
• 3:48
  Speaker 1: I mean we came with Persistence clothes on my back, bro.
• 3:51
  Speaker 3: I literally came to this country with the clothes on my back.
• 3:54
  Speaker 1: I could guarantee you weren't wearing a shirt that nice though.
• 3:56
  Speaker 3: No, you guys can see it, but man no, I'm sure he did.
• 3:58
  Speaker 1: He did surf on the bottom, and now the shirt does not match the bottom anymore.
• 4:01
  Speaker 1: I just like it.
• 4:02
  Speaker 2: Every time I've heard this story and I knew it was coming.
• 4:04
  Speaker 2: But in every time I hear it it's just like I don't know if people can really wrap their head around how shitty something has to be To move away from it and get arrested and detained three times, like three times.
• 4:20
  Speaker 2: And you weren't going back.
• 4:22
  Speaker 2: No, bro, you weren't staying.
• 4:24
  Speaker 2: Your mom wasn't staying, she wasn't keeping her family there.
• 4:26
  Speaker 2: The kids weren't coming up there like I wasn't happening.
• 4:28
  Speaker 3: No man, I, my mom is, she's a gangster Like she, she's a badass.
• 4:32
  Speaker 3: And so, you know, if it wasn't for her, we wouldn't be here.
• 4:36
  Speaker 3: But this has brought so much, just so much, to our family, to me, to my just just to everything, to my heritage, just like everything you know, and I work my ass off.
• 4:50
  Speaker 3: So that's why I love that song, because, you know, if you know me, you know I put in work.
• 4:55
  Speaker 3: Like I don't, I don't even hand out.
• 4:57
  Speaker 3: I'm not asking for a handout, you know.
• 4:59
  Speaker 2: Yeah, and I give back for sure.
• 5:01
  Speaker 2: So, more than more than so many people, I know you're you're way up at the top, like I appreciate it.
• 5:07
  Speaker 2: Hard to go, man.
• 5:08
  Speaker 3: But that's why, though, Like and there's a lot of people that actually help me on the way up.
• 5:12
  Speaker 1: Sure.
• 5:12
  Speaker 1: So you know, there's nothing wrong with that, Right For sure, and I'm a citizen Like now.
• 5:15
  Speaker 3: I'm a.
• 5:15
  Speaker 3: Well, I love America.
• 5:17
  Speaker 3: You know, I'm a diehard citizen.
• 5:20
  Speaker 1: I love it.
• 5:20
  Speaker 1: Dude, I'm a little fired up here man.
• 5:22
  Speaker 1: I should have had a sweatshirt.
• 5:23
  Speaker 2: I'm getting hot already.
• 5:25
  Speaker 1: So oldest of five were.
• 5:27
  Speaker 1: Did your whole whole family come at once?
• 5:29
  Speaker 1: Did you come?
• 5:30
  Speaker 3: And I'm the oldest of six now, oh, six.
• 5:32
  Speaker 3: There is a young, a youngest daughter, or a sister that was born here.
• 5:36
  Speaker 3: Ok, but at that time, yeah, there's five of us it was my little sister who was like three months old Wow, she was wrapped around my mom with a sheet, you know and then my little brother who was one, he was like one and a half and then my other brother who was like three, and my other brother who was seven, and then me, and that was eight.
• 5:56
  Speaker 2: Yeah, don't take this the wrong way, but I mean start and understand why you got caught three times, like that's exactly.
• 6:01
  Speaker 2: Dude slowest moving army ever.
• 6:05
  Speaker 1: I'm sure you guys were dead silent too.
• 6:07
  Speaker 1: Yeah, man, I can't get through Costco without getting dirty looks from people, so I can't imagine trying to cross the border.
• 6:13
  Speaker 3: That's, that's crazy, that's literally why we got caught to be honest and when we actually got through, we got through a foxhole.
• 6:19
  Speaker 3: We didn't actually have to jump the fence or climb the fence, but the last time we actually got through a foxhole, so the coyote was like there's no way, we're going to, we're going to not get caught with you guys trying to jump a fence.
• 6:31
  Speaker 1: Three months old.
• 6:32
  Speaker 1: They just can't jump that well, I got the leg muscles.
• 6:36
  Speaker 3: Yeah, bro, it's crazy, it was crazy, I mean it's.
• 6:38
  Speaker 3: You know it was meant to be.
• 6:39
  Speaker 3: We're here.
• 6:40
  Speaker 1: I mean we're laughing about that now, but like in all seriousness that it has to have driven you to the success that you're having now.
• 6:48
  Speaker 3: Right, oh, absolutely.
• 6:49
  Speaker 3: It definitely made me who I am.
• 6:50
  Speaker 3: Like just just to see, here's the deal.
• 6:54
  Speaker 3: Like we came here for opportunity and this is the land of opportunity, right?
• 6:58
  Speaker 3: But my parents always said, like we're here to work, like we're we're here to make our lives better, right?
• 7:04
  Speaker 3: That's why we left Mexico.
• 7:07
  Speaker 2: Yeah.
• 7:07
  Speaker 3: Opportunity, opportunity, everything.
• 7:08
  Speaker 3: Our lives better.
• 7:09
  Speaker 1: Yeah, so not here for easy street, here for an opportunity to grind.
• 7:13
  Speaker 3: Yeah.
• 7:13
  Speaker 1: And you've done that Absolutely and I think that that you know it's tough, like we live in a relatively affluent area and I don't want to.
• 7:19
  Speaker 1: You know, paint broad strokes for everybody's family.
• 7:21
  Speaker 1: But you know, I was having a conversation this weekend with about you know a bunch of other dads about youth sports and how caught up they are and like you tend baseball and no offense towards you, dan, obviously because your kids are legit but these other knuckleheads, man they were talking about throwing a coos to house.
• 7:36
  Speaker 1: You know parents and and just all the dynamics of this and I'm like man, this is, this is what we had time to worry about, this shit.
• 7:44
  Speaker 1: And there's people like Rico's family that are coming here.
• 7:46
  Speaker 1: It's crazy.
• 7:46
  Speaker 1: They're coming here not to the bitch and moan about that.
• 7:48
  Speaker 1: They're coming here to have an opportunity to grind and do something for their legacy, for their own health, for their own sanity, for their own family.
• 7:56
  Speaker 1: And I just think that we're in a little bit of an era of if you're not a second, third generation, you know immigrant here, like we've kind of forgotten a little bit what it means to work hard as a society.
• 8:07
  Speaker 3: Well, I agree with that, and even in my own home, like I have two daughters and I feel like they've forgotten, like what.
• 8:13
  Speaker 2: I went through you know what I mean.
• 8:15
  Speaker 3: So, but that's kind of our fault For sure.
• 8:18
  Speaker 2: Like you know, Marina's Marina's story is fairly similar.
• 8:21
  Speaker 2: She came here from Brazil she's an immigrant as well on a volleyball scholarship, and I mean, she came further than you, did no big deal she was well, she was way.
• 8:28
  Speaker 2: She's the, she's the breadwinner, she's, she's the, she's the athlete.
• 8:31
  Speaker 2: I'm like dude.
• 8:32
  Speaker 1: I'm just saying Brazil is a lot further than Mexico, but you know no big deal.
• 8:35
  Speaker 2: Well, she got to come on an airplane.
• 8:37
  Speaker 1: And oh, come on, man, this bitch.
• 8:38
  Speaker 1: I could say that because I know she doesn't listen to the podcast.
• 8:42
  Speaker 1: I wish you didn't have a three week old with it.
• 8:47
  Speaker 2: Yeah, yeah, but even still, I mean, you go back.
• 8:49
  Speaker 2: You know we go back to Brazil and we see that, we see the lifestyle down there and the differences and it's like man, yeah, we take it for granted.
• 8:57
  Speaker 2: And the same thing.
• 8:57
  Speaker 2: My kids, yeah, they grow up privileged and with things and, yeah, the sports stuff, all the things.
• 9:03
  Speaker 3: Well, we always as parents and I don't know if you're a parent- but, as parents, we wanna make sure our kids don't suffer like we did, so then we forget to show them why we're who we are right, Cause we don't want them to suffer.
• 9:16
  Speaker 1: So you're like, oh yeah.
• 9:17
  Speaker 3: I never was able to buy anything or get anything when I was at the store.
• 9:20
  Speaker 3: So when my daughter's like, can I have that?
• 9:21
  Speaker 3: Yeah, absolutely, yeah, right.
• 9:23
  Speaker 3: And it's like, well, kind of like wait a second.
• 9:26
  Speaker 1: Then they become more.
• 9:27
  Speaker 1: Where's the lesson?
• 9:28
  Speaker 1: Yeah, exactly yeah it's a double edged short right.
• 9:30
  Speaker 1: You want better for them.
• 9:31
  Speaker 1: And then I've talked about this phrase before, I'm sure you've heard it too is that you know, hard times create strong men, Then strong men create easy times, and then easy times create weak men, and then weak men create hard times.
• 9:42
  Speaker 1: And so it's this cycle that's really hard to not perpetuate.
• 9:46
  Speaker 1: I mean, I had that in my own family.
• 9:47
  Speaker 1: We're not immigrants, but my dad grew up in an abusive home, extremely poor, in Detroit, during race riots, you know really bad upbringing.
• 9:55
  Speaker 1: He came to Seattle.
• 9:57
  Speaker 1: He did a generation better.
• 9:58
  Speaker 1: I'm trying to do a generation better than that, and so that's.
• 10:01
  Speaker 1: I think that is inherently in us, that legacy mindset.
• 10:04
  Speaker 1: But then it's really hard, Like with my own kids.
• 10:06
  Speaker 1: I'm like man, I'm spoiling you guys already?
• 10:08
  Speaker 2: No, for sure yeah.
• 10:09
  Speaker 1: And so it's.
• 10:09
  Speaker 1: Sometimes it's and I had this conversation with a realtor not long ago trying to almost artificially create challenges for them and then I think that sometimes why things like youth sports become such a mecca or a focus, cause you're like man, you're not going to get this anywhere else.
• 10:22
  Speaker 1: I'm going to have to create this for you in like toughness and drive and endurance and like passion.
• 10:26
  Speaker 1: But you know what?
• 10:27
  Speaker 1: The other thing I like about this sometimes the the rural interface around here a little bit is that you get like I love to see farm kids man, cause those kids are grinders.
• 10:35
  Speaker 1: They're workers working on horses and pig slabbing.
• 10:39
  Speaker 1: Obviously I don't know what I'm talking about.
• 10:40
  Speaker 1: I'm doing a guy in Placer County that doesn't own boots but it's.
• 10:43
  Speaker 1: I love to watch young kids work and want to grind.
• 10:46
  Speaker 3: When my daughter was 16, I got her a job at a warehouse for summer, just so she can like really understand what it feels like to work in a warehouse with no AC and stuff like that.
• 10:55
  Speaker 3: She can hate it, that job.
• 10:57
  Speaker 2: Yeah, which is great.
• 10:58
  Speaker 3: But I love my friend for giving her that job.
• 11:00
  Speaker 3: I'm like hey, bro, thank you Like that that made a big difference in her life and she's still.
• 11:04
  Speaker 3: She's still trying to prove herself to me Right Cause she didn't want to go to school.
• 11:08
  Speaker 3: She's like I don't, I don't, that's not for me, I'm like you're a smart girl, like stupid.
• 11:13
  Speaker 3: So now I think she's starting to realize like damn, you know I should have, and she's only 18, still Like she just graduated last year.
• 11:19
  Speaker 3: But I think it's opening her eyes to do I really want to do this type of work for the rest of my life.
• 11:25
  Speaker 1: And how can you better convince somebody than by their own experience?
• 11:28
  Speaker 1: Right, like you lead a horse to water things.
• 11:30
  Speaker 1: Totally true, but the truth is like that horse might be like oh.
• 11:33
  Speaker 1: I'm thirstier than I thought.
• 11:34
  Speaker 1: Like I mean, I mean maybe death also.
• 11:38
  Speaker 2: Nobody can understand or feel your pain.
• 11:40
  Speaker 2: The way we feel pain is all different, right?
• 11:42
  Speaker 2: So different pressure points and things like that create different feelings.
• 11:46
  Speaker 1: And it's like until you go through it.
• 11:49
  Speaker 2: You'll never know.
• 11:50
  Speaker 1: And nobody can want it more than you.
• 11:51
  Speaker 1: You know, like when we had Kaylee Cornell on here a few weeks ago and she made this recent transition from title rep to real estate and one of the things that she says she had like amazing people that she worked with but she also part of her move was she has some frustrations of like.
• 12:04
  Speaker 1: I'm trying to give you all the tools I can.
• 12:06
  Speaker 1: I'm trying to prep you, you know, prep you more than more than you care.
• 12:10
  Speaker 1: Why don't I just do that for myself and then go out and make the grind, cause, like you, you're not going to be able and I tell this to my kids I said I will support you to the end of the earth.
• 12:18
  Speaker 1: Like, no matter what you do, you can kill somebody, I'll still love you.
• 12:20
  Speaker 1: If you want to grind like, we'll be behind you, but I'm never going to want it more than you do.
• 12:24
  Speaker 1: Like, as soon as you don't want it.
• 12:26
  Speaker 1: Like mom and I aren't going to spend the money or the time.
• 12:29
  Speaker 1: We got three kids like, we'll move on to the next one, 100%.
• 12:32
  Speaker 3: You're gone the time and the effort I spent money on.
• 12:35
  Speaker 3: I'm my first daughter to go to college, right?
• 12:38
  Speaker 3: So she, she wanted to go to college, and this was during that pandemic.
• 12:40
  Speaker 3: So we, you know it's like New Hampshire university, which was like online you spend some money for her.
• 12:46
  Speaker 3: And then she like totally said I'm cool and I'm like, I'm like $4,000 in, right.
• 12:51
  Speaker 3: And then the second one I'm like you pay for college If you really want to go to college, cause you want to do like photography or whatever, and I'll reimburse you when you graduate.
• 13:00
  Speaker 1: Oh, I love that.
• 13:02
  Speaker 2: Show me how much you really want to do it.
• 13:03
  Speaker 2: Yeah, and I'll reimburse you.
• 13:05
  Speaker 2: You're going to give her the interest on that too.
• 13:06
  Speaker 2: Everything.
• 13:07
  Speaker 1: Yeah, it's floating, it's on an arm, or index and margin, everything I'm cool, I'll make it happen.
• 13:12
  Speaker 3: Yeah, but I want her to like show me right, that little one's doing it.
• 13:15
  Speaker 3: Like show me that you're actually interested in it.
• 13:18
  Speaker 3: I'm not going to just spend money, yeah.
• 13:19
  Speaker 1: And show yourself really right.
• 13:21
  Speaker 1: Like it's easy.
• 13:21
  Speaker 1: I mean I'm speaking, I didn't pay for school and I had hope for my folks too, and but I look back and I'm like I didn't work as hard as I could have and I know that if it was my, it was me deciding like I'm going to spend this money on school instead of on whatever else, or I have to earn it.
• 13:35
  Speaker 1: I mean I worked all the way through.
• 13:37
  Speaker 1: But it's definitely a different thing, man, when you're having to earn it yourself and the skin in the game and at a mortgage mentor and he basically just always relied on that.
• 13:45
  Speaker 1: Like I'll give you.
• 13:47
  Speaker 1: You know we'll do compensation and we'll hook you up with everything, but like you got to have skin in the game, otherwise, you know you're just an employee.
• 13:53
  Speaker 3: Yeah, absolutely.
• 13:54
  Speaker 1: Yeah, Well, that's awesome man.
• 13:56
  Speaker 1: So when you guys got here to the US of A, where did you lay in first?
• 14:01
  Speaker 3: So we laid in San Diego for like a few weeks.
• 14:03
  Speaker 3: As my grandpa was living in San Diego, he helped us out a little bit.
• 14:06
  Speaker 3: And then my dad was already here at the time and he had this is funny he had an.
• 14:10
  Speaker 3: He was sharing an apartment, a two bedroom apartment right With.
• 14:13
  Speaker 3: At the time it was with a family of seven, so he was just in a room, a two bedroom apartment, and out of nowhere he brought his whole family from there.
• 14:23
  Speaker 3: So instead of him by himself with his family of seven, right, it was him with his family of seven.
• 14:31
  Speaker 1: Dang bro.
• 14:32
  Speaker 3: So we're all rooming with another.
• 14:34
  Speaker 3: We're all in this room and we're all sleeping on the floor.
• 14:37
  Speaker 3: I mean, I'll never forget that, like we all slept on the floor and you know it was.
• 14:41
  Speaker 3: It was crazy.
• 14:42
  Speaker 1: Dang.
• 14:42
  Speaker 1: I was gonna say like, doesn't there have been enough room for bunk beds?
• 14:44
  Speaker 1: Yeah, yeah, man, you can't even fit enough bunk beds in there for that.
• 14:48
  Speaker 1: Nope Dang Well, and then how did you make your way up here to the greater Sacramento area, and where do you live now?
• 14:54
  Speaker 3: I live in Elk Grove.
• 14:55
  Speaker 3: Now, what's your address?
• 14:56
  Speaker 3: I'm kidding, I'm kidding.
• 14:57
  Speaker 3: I'm kidding.
• 14:58
  Speaker 3: I don't care, bro, you can just look it up, it's all right.
• 15:01
  Speaker 1: The three people that listen to this, including my mom, aren't gonna come visit.
• 15:03
  Speaker 3: So don't don't stress More than three, though, and not that I'm on the show, bro.
• 15:07
  Speaker 3: Yeah, we're gonna rise man.
• 15:09
  Speaker 1: I love it, dude.
• 15:11
  Speaker 3: So I live in Elk Grove now and we came up here.
• 15:12
  Speaker 3: When I was in high school, my dad got a job as construction.
• 15:15
  Speaker 3: My dad actually poured the foundation of the house that I live in now.
• 15:19
  Speaker 2: Oh, that's cool.
• 15:20
  Speaker 2: Yeah, that's super cool, that is cool.
• 15:22
  Speaker 3: Early 2000,.
• 15:23
  Speaker 3: I never knew that, but he was like.
• 15:24
  Speaker 3: He came over to you and was like I pour the foundation to your house.
• 15:27
  Speaker 3: I was like, really Like, because he's a construction where he's been in construction concrete 30 years now.
• 15:32
  Speaker 3: But yeah, there was a boom in the 90s and Elk Grove was growing.
• 15:37
  Speaker 2: Sacramento was growing.
• 15:39
  Speaker 3: And that's when he got a job up here, he used to work two jobs, so when we first got here he'd worked at Hunt's Ketchup and then he'd work at Wooden Park, the hotel which was a knots of berry farm Right.
• 15:51
  Speaker 1: A knots of berry farm.
• 15:52
  Speaker 3: Okay, so two jobs.
• 15:53
  Speaker 3: I saw my dad during the week for four hours and he would be asleep because he was working.
• 15:59
  Speaker 3: Two jobs, oh yeah.
• 16:01
  Speaker 1: As a young man like did you understand that?
• 16:03
  Speaker 1: Did you understand?
• 16:04
  Speaker 3: Yeah, I totally.
• 16:04
  Speaker 3: I understood it, but it sucked right Because you're selfish at some point and it was shitty that he never went to my games.
• 16:13
  Speaker 3: It was, you know, like he never went to my practices.
• 16:16
  Speaker 1: Like we as parents, go to all the practices, all the games.
• 16:19
  Speaker 3: He never did any of that.
• 16:20
  Speaker 1: He's like bro, you're native Mexican, you're gonna be good at soccer.
• 16:22
  Speaker 1: Just get out there and go, bro, you'll be fine, you're gonna be good, you'll be totally fine, you got this.
• 16:27
  Speaker 3: Yeah, but I understand it now as a parent Like I understand it now as an adult.
• 16:31
  Speaker 3: Like damn, he hustled, Like he that's a sacrifice.
• 16:33
  Speaker 1: you know Sure and 100%.
• 16:35
  Speaker 3: We could never like think about this, right, there's five kids growing up in a household.
• 16:40
  Speaker 3: Your dad's asleep when he's home, so you have to be like super quiet.
• 16:45
  Speaker 3: Oh yeah, you better shut up.
• 16:46
  Speaker 3: We could not like make noise Cause if you woke my dad up the time he was trying to sleep before he got back to work.
• 16:52
  Speaker 3: It was done, forget it.
• 16:54
  Speaker 2: Yeah.
• 16:54
  Speaker 3: And then my dad would never spank us if we were asleep, like he never would wake us up to spank us, right.
• 17:01
  Speaker 3: So whenever we knew my dad was coming and we were going to get in trouble, we would be sleeping, sleeping.
• 17:05
  Speaker 3: It'd be like two in the afternoon.
• 17:07
  Speaker 1: Sleep is nap time, oh cool, you guys had some night quill.
• 17:11
  Speaker 1: I just stepped under the bed.
• 17:13
  Speaker 1: Quick hitter, pass it around.
• 17:15
  Speaker 3: Yeah, that was.
• 17:16
  Speaker 3: It was cool, it was funny, but it is what it is.
• 17:18
  Speaker 2: I mean, that's a survival skill too, yeah, I would go to sleep, my dad's coming.
• 17:23
  Speaker 2: Adapt, adapt and survive.
• 17:24
  Speaker 2: Literally.
• 17:25
  Speaker 1: Well, I mean, I can only imagine what that that does to fuel your business, and we can get into that a little bit.
• 17:30
  Speaker 1: How did you find yourself in the world of real estate, or what path did you take to get there?
• 17:34
  Speaker 3: So I actually got into home warranty when I was 19 years old.
• 17:38
  Speaker 3: Okay, Tempt to hire.
• 17:39
  Speaker 3: You know, at a high school my wife was pregnant.
• 17:43
  Speaker 3: I've been married 23 years.
• 17:45
  Speaker 3: We just celebrated our anniversary, Congratulations.
• 17:46
  Speaker 2: Congratulations.
• 17:47
  Speaker 3: Thank you, congrats, we've been together 24 years, she's pregnant at a high school and I'm doing like odd jobs or whatever right Like I actually work at Jack in the Box warehouse for a little bit.
• 17:58
  Speaker 3: I actually got fired from Jack in the Box from not coming in on Super Bowl.
• 18:03
  Speaker 1: Oh wow, dude.
• 18:04
  Speaker 1: So did you work there through 91 when they had the huge like everybody died that was up in Washington actually they were like six kids died E Coli.
• 18:12
  Speaker 3: I worked there in 2000.
• 18:13
  Speaker 3: Okay, oh, the easy times.
• 18:14
  Speaker 3: No big deal, easy times.
• 18:15
  Speaker 1: We're back to the breakfast.
• 18:16
  Speaker 1: Jack.
• 18:17
  Speaker 3: Yeah, sorry to Jack, we could even afford Jack in the Box in 91.
• 18:21
  Speaker 3: I was here in 89.
• 18:22
  Speaker 3: So I don't even think I got into like a restaurant restaurant until like 94 or 95.
• 18:26
  Speaker 1: I don't want to sidetrack you here, but this is like one of my favorite stores.
• 18:29
  Speaker 1: I grew up around a bunch of rich kids and I would say I like I wasn't rich, but you know, comparatively I was a first.
• 18:34
  Speaker 1: I was not a first generation immigrant, but I used to get a ride to school, to basketball practice, with this kid who had more money than a lot of money and we'd go to Jack in the Box on the way and he'd stop and he'd get the order.
• 18:46
  Speaker 1: The breakfast Jack, which was back then, was 99 cents.
• 18:49
  Speaker 1: I'm kind of dating myself.
• 18:50
  Speaker 1: The sourdough Jack is a buck 99.
• 18:52
  Speaker 1: The only difference is the bread.
• 18:54
  Speaker 1: So he would say hey, man, I want like four sourdough, I want four breakfast Jacks, but can you just swap out the bread for sourdough?
• 19:00
  Speaker 1: And they're like oh, you want the sourdough Jack.
• 19:02
  Speaker 1: No, no, I'm sorry, I don't think you understood Like I want like the breakfast Jack.
• 19:05
  Speaker 1: But I was like man, we're riding to school and a brand new Chevy Z71 truck and you're grifting these guys or the bread.
• 19:15
  Speaker 1: I wish I would have thought about that, but you know it's all right Back then you're.
• 19:19
  Speaker 1: You know, a buck is a lot back then.
• 19:21
  Speaker 1: Anyway, I digress.
• 19:23
  Speaker 3: I love that.
• 19:24
  Speaker 3: Sorry, Because you know what.
• 19:24
  Speaker 3: That's how you, that's how rich people stay rich bro.
• 19:27
  Speaker 3: Oh, for sure.
• 19:28
  Speaker 1: I'm sure he's found his way into some tax breaks now, some of the most frugal people you'll ever meet are super wealthy.
• 19:35
  Speaker 1: And the sourdough Jack is significantly better than the regular breakfast Jack.
• 19:38
  Speaker 2: Well, it's because on sourdough bread yeah.
• 19:40
  Speaker 1: Yeah, so I would have paid the buck, but the fact that I didn't have to.
• 19:43
  Speaker 3: That's great, yeah, anyway.
• 19:45
  Speaker 1: So I digress, sorry.
• 19:46
  Speaker 1: So you went to Jack in the box and then all of a sudden, bam, home warranty.
• 19:50
  Speaker 1: How do you get there?
• 19:51
  Speaker 3: Tempt a higher job.
• 19:52
  Speaker 3: My, my, my mother-in-law was the one that recommended just go get a temp to hire job.
• 19:57
  Speaker 3: I started old Republic, work my way up, starting to pay $9 an hour.
• 20:02
  Speaker 3: People would be like why are you driving from Modesto or Tracy to San Ramon every day for $9?
• 20:09
  Speaker 3: Wow, I'm like it's going to work out, so just work my way up.
• 20:14
  Speaker 1: And when you say it's going to work out, that can mean a lot of things, but they you feel like it was going to work out because I'm a grinder and I'm going to make it work out.
• 20:20
  Speaker 1: Or did you feel like, oh man, there's something here for me I like about real estate, or what did you?
• 20:24
  Speaker 3: say it wasn't even real estate, so it's home warranty.
• 20:26
  Speaker 3: It's an old Republic right.
• 20:27
  Speaker 3: And so the very first day they told me, the president of the company used to be the secretary of the company.
• 20:34
  Speaker 2: And so.
• 20:34
  Speaker 3: I saw that like boom.
• 20:35
  Speaker 3: If the president now is my secretary.
• 20:39
  Speaker 3: I'm there Like that's who I want, to be right.
• 20:40
  Speaker 3: And they said we hire within, so if you do really well, we'll just keep you, keep moving up.
• 20:45
  Speaker 3: And that's actually very true.
• 20:46
  Speaker 3: Like that, exactly what happened?
• 20:48
  Speaker 3: Like within three months I got hired on and then I went through almost every single department at old Republic, except for like accounting.
• 20:54
  Speaker 3: And then from there, I'll never forget this.
• 20:57
  Speaker 3: So I was at the department where all the account executives, all the sales reps, would call in to get help, right, it was called the sales service department.
• 21:09
  Speaker 3: And on a Friday night I'm the it's my first Friday night and the rep calls in and she's freaking out because somebody's water heater is out.
• 21:15
  Speaker 3: And she's like, hey, I need this water heater replaced.
• 21:17
  Speaker 3: And I look at the plan and I'm like it.
• 21:18
  Speaker 3: Just it was effective today.
• 21:20
  Speaker 3: Like that's pre-existing, we don't cover that.
• 21:22
  Speaker 3: And she's like you must be new.
• 21:24
  Speaker 3: And I was like, yeah, she's like what's your name?
• 21:27
  Speaker 3: Rico Rivera, Okay, cool, Hangs up Monday morning.
• 21:30
  Speaker 3: I get in trouble.
• 21:31
  Speaker 3: I come in Rico Rivera, come see me, my boss, right.
• 21:34
  Speaker 3: And I'm like what?
• 21:36
  Speaker 3: Like what's going on?
• 21:36
  Speaker 3: I just this is like my first week, right.
• 21:39
  Speaker 3: In this department and you're like it's the creamer, the crop.
• 21:42
  Speaker 3: And she's like I heard you got called by Ellen Peterson.
• 21:46
  Speaker 3: I'm like yeah, she called and she was asking you know.
• 21:48
  Speaker 3: And she's like Ellen Peterson like pays your bills, dude, like she writes your checks.
• 21:53
  Speaker 3: She calls and she says jump, you say how high.
• 21:56
  Speaker 3: And I was like really, and she's like Ellen Gloria Navarro, kathy Lanceford, yvette Meyer, like she just told me what reps can call and say whatever they need done, done Right.
• 22:09
  Speaker 3: And I said how can I be that?
• 22:10
  Speaker 3: I want to be a rep?
• 22:11
  Speaker 3: I want that God power.
• 22:12
  Speaker 3: She said don't worry about it, you'll never be a rep.
• 22:14
  Speaker 3: Really Get to work.
• 22:15
  Speaker 3: No way, bro.
• 22:17
  Speaker 3: I put that on my goals I'm going to be a rep.
• 22:18
  Speaker 3: And then I became a sales rep and that's how we came home morning to King.
• 22:21
  Speaker 2: Yeah.
• 22:22
  Speaker 3: So when so?
• 22:23
  Speaker 2: when, when I met Rico this was 12 years ago, 11, 12 years ago getting into this, getting into this industry Rico used to literally have a King's hat, like a crown, and a crown and a cape that he wore and I remember in the back of my head going, fuck man, I don't want to have to do that.
• 22:40
  Speaker 2: She's going to be successful in this industry.
• 22:43
  Speaker 2: But I was looking at my dude like Rico knew everybody.
• 22:48
  Speaker 1: And everyone was like dude, like he was.
• 22:50
  Speaker 1: Yeah.
• 22:52
  Speaker 2: I mean absolutely Like I.
• 22:54
  Speaker 2: I absolutely emulated tons of things that I saw Rico doing in the industry.
• 22:59
  Speaker 1: Back then.
• 22:59
  Speaker 1: I will see a cape.
• 23:00
  Speaker 1: I'll see no crown.
• 23:02
  Speaker 2: I know I got boundaries yeah.
• 23:04
  Speaker 1: I'm going to talk to Zach about that.
• 23:05
  Speaker 1: Hey, I had this idea, Look look, Marina.
• 23:07
  Speaker 2: it doesn't see the world the same way as Tanya in some regards, so she's like hey, once or twice a year you can go dress up and look like an idiot, but outside of that she's like you know.
• 23:16
  Speaker 2: I need my choppy husband Plus Rico had already done it man.
• 23:20
  Speaker 2: Like you got to be, you got to be yourself, you got to be new.
• 23:23
  Speaker 1: I think there's two dudes that could pull that off.
• 23:25
  Speaker 3: Like it sounds like you had to swag to pull that off that and like the count from you know Sesame Street, bro bro listen, I went into an industry, was a sales rep, where, and there's the reps that I was going against, you know, stephanie Jeter, yvonne Nelson.
• 23:40
  Speaker 3: They've been reps for like 10 years, before even me they were already like 10 years in.
• 23:44
  Speaker 3: Like all these reps right now.
• 23:46
  Speaker 3: They're like 30, 40 years in the business, right, and I had to be.
• 23:51
  Speaker 3: I just had to be different, yeah.
• 23:53
  Speaker 3: And so for me, I went into offices, like like real estate offices, teaching them about technology, teaching them about social media when it first came out, teaching them about videos, like I was doing videos before anybody was doing videos.
• 24:04
  Speaker 3: I was doing YouTube videos before YouTube was actually owned by Google.
• 24:08
  Speaker 3: So that's what got me the home warranty king.
• 24:12
  Speaker 1: To adding value outside of the warranty?
• 24:14
  Speaker 1: Yeah, 100% it was totally.
• 24:16
  Speaker 3: People were like yeah, you can come in and talk to us.
• 24:18
  Speaker 3: So I'd come in into offices and talk to them about like social media technology, videos, stuff like that.
• 24:25
  Speaker 2: Oh and, by the way, oh and by the way, the home warranty guy.
• 24:28
  Speaker 1: You know like this was a great presentation.
• 24:29
  Speaker 1: Can we ask why you were in that crowd?
• 24:31
  Speaker 2: Yeah, yeah, no, they knew.
• 24:33
  Speaker 2: Do they know we do with the king one?
• 24:35
  Speaker 3: Yeah, it was totally like that dude.
• 24:37
  Speaker 1: And then my competition hated me like but did you make a brand and a niche?
• 24:41
  Speaker 1: You know what's interesting now that I think about I'm trying to think of the home warranty reps I know, and the names you just listed off like I don't know any men in that field Was that is that?
• 24:50
  Speaker 3: No, no, no, it's very common.
• 24:51
  Speaker 3: I mean, there was like in our whole company at the time, I think there was five or six of us and there was like 90 women there.
• 24:58
  Speaker 3: Yeah, I mean, and listen, I'm not the cutest guy, bro, I'm going against these.
• 25:02
  Speaker 3: Oh, don't sell yourself.
• 25:03
  Speaker 3: Yeah, I don't know.
• 25:04
  Speaker 1: You know what I'm saying.
• 25:04
  Speaker 1: They're like I don't know what you mean.
• 25:07
  Speaker 2: actually I'm looking right at you, that's why we're not letting you off the hook, that easy girl, just so you guys know we keep the windows open in here just because it gets a little.
• 25:16
  Speaker 1: It gets a little warmer in the studio.
• 25:18
  Speaker 1: The bees just sweat.
• 25:20
  Speaker 1: Well, that's awesome, I mean.
• 25:22
  Speaker 1: And so tell me about so.
• 25:24
  Speaker 1: Obviously you found some success there.
• 25:25
  Speaker 1: What motivated you to move to real estate?
• 25:28
  Speaker 1: Tell us a little bit about that.
• 25:30
  Speaker 3: I saw what real estate agents were doing.
• 25:31
  Speaker 3: I mean, you know, I was.
• 25:33
  Speaker 3: We just had a conversation earlier.
• 25:34
  Speaker 3: So I'm going around teaching everybody what you should do and then I'm like, why don't I just do it for myself?
• 25:42
  Speaker 2: Then I had the opportunity.
• 25:43
  Speaker 3: Maureen was the first person to give me an opportunity and hire me to be a team leader, manager of an office with that that's right.
• 25:50
  Speaker 2: I forgot that.
• 25:51
  Speaker 2: You went, yeah, straight to team lead.
• 25:53
  Speaker 2: I totally forgot about that.
• 25:56
  Speaker 3: Yeah bro, I was literally right into the manager's position of an office A guide, I know, at a Keller Williams Okay, because.
• 26:03
  Speaker 3: I was Sac Metro in Natomas and I had no real estate license and I was like I don't have my real estate license.
• 26:09
  Speaker 3: And she was like you know everything.
• 26:11
  Speaker 3: You don't.
• 26:12
  Speaker 3: I don't care about that.
• 26:13
  Speaker 3: Like you know how to lead, you know how to hire.
• 26:15
  Speaker 3: Like your leader, you can do it.
• 26:18
  Speaker 3: I trust you and the broker can answer all the real estate questions.
• 26:21
  Speaker 3: And I said let's do it.
• 26:22
  Speaker 3: So started with like 60 agents.
• 26:25
  Speaker 3: One time we left I was at 140 agents, hired a ton of agents.
• 26:30
  Speaker 3: We killed it.
• 26:32
  Speaker 3: We did a great job and then I went from being the team lead to doing my own thing in 2019.
• 26:39
  Speaker 3: Started Silicon East real estate and now it's guide.
• 26:43
  Speaker 2: Did you pull Bobby out of insurance right?
• 26:45
  Speaker 3: Yeah, no, no, no, no.
• 26:46
  Speaker 3: But I didn't pull Bobby out of insurance.
• 26:47
  Speaker 3: He actually was already in real estate.
• 26:49
  Speaker 3: He went I think it was code three, and then Brie Max, and then he came over with me.
• 26:55
  Speaker 3: A lot of the agents that are top producers I brought over.
• 27:00
  Speaker 2: Nice, and now they've grown.
• 27:02
  Speaker 3: Oh for sure, they're like over 200 agents now.
• 27:05
  Speaker 2: Yeah, that's awesome.
• 27:06
  Speaker 1: So tell me a little bit about that, though, too, because we have a lot of.
• 27:09
  Speaker 1: We have talked about real estate loosely here, but I think we talk about how to be successful.
• 27:13
  Speaker 1: We have a lot of interesting people on here that are successful at different levels, and you obviously.
• 27:18
  Speaker 1: Somebody saw something in you that was not a real estate license, and now, this last week, we had some big shakeups in the real estate world, and so I'd be interested to hear your thoughts on what is it that is going to make people, or has made people, historically prime for success, because if you were able to do it without somebody sitting in you, without even having a real estate license, what are those intangibles that make people grinders?
• 27:42
  Speaker 3: I think it's.
• 27:42
  Speaker 3: One of them is consistency.
• 27:46
  Speaker 2: That's the big one, man.
• 27:47
  Speaker 2: I like it.
• 27:48
  Speaker 1: We should just put that on the wall here it's like the theme of the show.
• 27:51
  Speaker 2: Change the name of this thing, Open the consistency.
• 27:54
  Speaker 3: And if you look at top producing real estate agents, they're all different and there's niches that people have Like I'll give an example Micosaurus.
• 28:04
  Speaker 3: Micosaurus passes out like 20,000 flowers a month, very consistent.
• 28:09
  Speaker 3: He's been doing that for 20 years, so he's done that.
• 28:13
  Speaker 3: Tom Dave has been around forever.
• 28:14
  Speaker 3: Tom Dave does radio shows and TV commercials and all kinds of different things, and that's completely different.
• 28:22
  Speaker 3: And then you have cold callers, people that just cold call, just constantly cold call, cold call.
• 28:28
  Speaker 3: Then you have people that door knock and they just door knock.
• 28:30
  Speaker 3: And you have people like me that do social media, and so it's like there's no one way to be successful in real estate.
• 28:37
  Speaker 3: But one thing that I know for a fact is they're all consistent in what they do, 100%, all consistent, like they won't miss a day, and so I feel like that's a big one.
• 28:47
  Speaker 3: And to answer your question about the shakeup that's happening, because it's a real shakeup, it's never happened and the 100 years that we've been losing.
• 28:53
  Speaker 2: This is going to be an interesting six months, for sure.
• 28:56
  Speaker 3: Six months to a year.
• 28:57
  Speaker 3: I think you're going to see more professionals in the business.
• 29:01
  Speaker 3: So, in my opinion, a lot of people that are your part time agents are probably going to go away.
• 29:09
  Speaker 3: Because if you're a part time agent and I gave you this analogy earlier, right, bro, what are you going to offer a client as a part time agent that you don't even know the business?
• 29:19
  Speaker 3: Every day, like, our laws are changing, our forms are changing, and I was telling my neighbor, would you let a part time surgeon work on you?
• 29:29
  Speaker 3: Like, hey, I'm going to go ahead and do that surgery for you.
• 29:33
  Speaker 3: I have my regular job during the week, but on the weekend I got you, bro, go ahead and operate on you.
• 29:38
  Speaker 1: Yeah, man, the last few have turned out pretty good.
• 29:40
  Speaker 1: Yeah, you'll be fine, I'll discharge you half.
• 29:44
  Speaker 3: Get out of here.
• 29:44
  Speaker 3: So I feel like, honestly, I feel like it's going to get to the point where you're going to see more professionals.
• 29:50
  Speaker 3: But there's two things that are going to happen.
• 29:52
  Speaker 3: It's going to be the rest of the bottom Right, the one percenters which we have in the Bay Area already.
• 29:58
  Speaker 3: We have the agents that are one percenters that are just going to charge the one percent.
• 30:01
  Speaker 3: We used to have the help you sell, but it didn't.
• 30:04
  Speaker 3: When the market tank, that went away too, because then there wasn't any money for them.
• 30:07
  Speaker 3: So we're going to have that.
• 30:08
  Speaker 3: We're going to have agents that are going to do the.
• 30:10
  Speaker 3: We're going to charge you one percent or flat fee 3,000, 1,000, whatever.
• 30:14
  Speaker 3: It might be right, but you get.
• 30:15
  Speaker 3: It's always what you pay for.
• 30:16
  Speaker 3: You get what you pay for.
• 30:17
  Speaker 2: Oh, totally.
• 30:18
  Speaker 3: And then you're going to have the professional real estate agents that have been doing it for a long time, that know what they're worth.
• 30:23
  Speaker 3: That are going to be the professionals that are going to take care of the high end, and they're going to take care of anybody that wants to deal with a professional right, and then you're going to pay for what you get.
• 30:31
  Speaker 3: That's what it's going to be, so.
• 30:33
  Speaker 3: I actually think that listing agents are going to get a pay raise.
• 30:36
  Speaker 2: Yep, yeah, so there's so many factors I saw I can't remember who I saw it from, but I saw it just this morning about because for those of you that don't understand, like we're talking about the commission structure and who pays the commission and traditionally it's been the seller pays the commission to an agreed upon amount with the seller's agent, who then pays a portion of that to the agent that brings the buyer's representation.
• 31:02
  Speaker 1: And now all home inspections are going to be $10,000 and all pull inspections are going to be $5,000.
• 31:07
  Speaker 1: And that's just.
• 31:08
  Speaker 1: You guys got to take that for what it is, and that just says what it is now.
• 31:11
  Speaker 1: Yeah, exactly.
• 31:14
  Speaker 2: I mean, shoot, look what prices have done across the board in life In the last few months.
• 31:20
  Speaker 2: I mean, I was just I feel bad.
• 31:21
  Speaker 2: I just sent an email to my insurance broker going dude, come on man, this is absurd.
• 31:26
  Speaker 2: For six months of auto coverage, like absurd.
• 31:29
  Speaker 3: It's ridiculous and it is, and it is.
• 31:31
  Speaker 2: It's that ripple effect.
• 31:32
  Speaker 2: But I think that it's going to be really, really interesting because the model that has existed for so long and, quite honestly, in the last two months I really felt like the industry had tried to make a reactionary move to going okay, we need to really push this buyer broker agreement.
• 31:49
  Speaker 2: And we got to.
• 31:50
  Speaker 2: We got to really draw, communicate what the expectations are and what the deliverables are and what the fee structure and everything looks like.
• 31:58
  Speaker 2: And then it was almost like NAR came back and was like, yeah, we settled.
• 32:03
  Speaker 2: And that was just like, oh God, like I want to talk about that real quick yeah.
• 32:07
  Speaker 3: Because I want to make sure that people are aware of all three people that can listen to it.
• 32:10
  Speaker 1: Yeah, yeah.
• 32:13
  Speaker 2: Rico is bringing us at least 50 lists.
• 32:15
  Speaker 2: I love it, dude.
• 32:16
  Speaker 3: I want to make sure that people are aware what actually happened with NAR and the fact that they settled.
• 32:22
  Speaker 3: But their settlement was okay.
• 32:25
  Speaker 3: We will no longer put commissions on the MLS right, but it doesn't mean that you cannot negotiate and the seller cannot pay for the buyer's agents commission.
• 32:35
  Speaker 3: So that's a big deal, because they actually wanted that to be completely gone.
• 32:40
  Speaker 3: They wanted no broker op, they wanted no broker representation.
• 32:45
  Speaker 3: They wanted the sellers to not be able to pay for the buyer's agents commission at all period.
• 32:50
  Speaker 1: Yeah.
• 32:52
  Speaker 3: So that didn't go away.
• 32:53
  Speaker 3: So we just have to negotiate it outside of the MLS.
• 32:57
  Speaker 3: We have to pick up the phone and talk to the agent and say is your seller willing to pay for my commission?
• 33:03
  Speaker 3: Is there any room at all?
• 33:05
  Speaker 3: Or we have to put it on our website hey, seller's willing, it just has to be outside of the MLS.
• 33:11
  Speaker 3: That's a win for real estate but and right, and for sellers it's a win in the sense of I don't have to pay for it.
• 33:22
  Speaker 2: Right.
• 33:23
  Speaker 3: Now I don't have to pay for it and it's not going to go into effect till July, but I guarantee you, there's a seller today that doesn't want to pay for it Exactly.
• 33:30
  Speaker 1: That's just like okay, interest rates.
• 33:31
  Speaker 1: There's an announcement of what they're going to do.
• 33:33
  Speaker 2: The national narrative is just that, it's the national narrative and it's whatever they've chosen for it to be.
• 33:38
  Speaker 2: Where we're having conversations like this going hold on a second like, just because this is what everyone's talking about.
• 33:43
  Speaker 2: Well, here's the fine print, here's all the here's all the writing between the lines that says oh, this you know, because the next question is going to come up is you know?
• 33:51
  Speaker 2: Is there going to be a first lender that jumps on board and says oh, you know what?
• 33:55
  Speaker 2: Yeah, you will finance that buyer side commission.
• 33:58
  Speaker 2: Yeah, no-transcript.
• 34:05
  Speaker 2: Why do banks lend money?
• 34:06
  Speaker 2: Because they're making money on it.
• 34:08
  Speaker 1: When there's retail brokerages.
• 34:09
  Speaker 1: I can guarantee you that are already wrapping their head around like, and this is how it is, like it's the same shit, we're just gonna chop it up and package it in a different way.
• 34:16
  Speaker 1: And it's the same thing, right, and it's gonna be, and it's a little bit of sour grapes sometimes coming from the lending world, but, like I've seen it a million different ways and this is, I guess, the root of this.
• 34:25
  Speaker 1: What I'm getting at is not only the professional's gonna win.
• 34:28
  Speaker 1: I think trust will become more important than it's ever been.
• 34:32
  Speaker 1: And if you're listening to this and you're thinking about buying a house, I can't tell you that I'm a cheapskate man.
• 34:37
  Speaker 1: Sometimes I'm like I wouldn't say I'm a cheapskate but I'm frugal, like I think about the value I get for my money, and RICO is correct in the fact that you are going to get what you pay for, that.
• 34:46
  Speaker 1: You're not buying a baseball bat at you know Dick's Sporting.
• 34:50
  Speaker 1: You're buying a huge asset or you're selling one, and there's more implications than there's ever been.
• 34:55
  Speaker 1: And I think if you don't truly trust somebody to because it's too much for a buyer most buyers I would say, that I encounter, or even knowing a lot of people that sell their homes it's too much to fully understand the scope of everything.
• 35:09
  Speaker 1: And so if you have someone that A you know can get the job done right, they have to have the goods, they have to be able to be a professional, but if you can truly trust them, it'd be the same thing as the doctor.
• 35:17
  Speaker 1: Well, I didn't go to medical school but I know you as a person, doc.
• 35:20
  Speaker 1: Like I trust you, whatever you think.
• 35:23
  Speaker 1: Do I get the surgery?
• 35:24
  Speaker 1: Do I not get the surgery right?
• 35:25
  Speaker 1: Like I can Google it all day but at the end of the day, like I want to be able to trust you and I think people really do want that I can't carry that burden.
• 35:32
  Speaker 1: You tell me you're the professional and I think those people end up winning.
• 35:37
  Speaker 3: Well, and the reality is, in my opinion, and a lot of people don't I don't know why people don't talk about this more why you should use a real estate agent is for the liability purposes.
• 35:46
  Speaker 3: Oh, like you, just just the mere fact that you use a real estate agent for a transaction like this, which is a home, that a lot of things can go wrong in a home.
• 35:55
  Speaker 3: Right Like that liability, there are E and O covers if something happens.
• 35:58
  Speaker 3: Right, like you're literally just giving the liability to that realtor.
• 36:03
  Speaker 3: They have a license, they have to tell you all everything, all the forms that you have to sign, everything you have to disclose, like as a seller, you're not gonna do that.
• 36:13
  Speaker 2: Like what are you trying to say?
• 36:14
  Speaker 2: As much money as possible.
• 36:15
  Speaker 3: We're in California, right, and so there's times where I'm telling my sellers, like listen, you have to say it, you have to say that you repaired that.
• 36:23
  Speaker 3: We're not lying about that Like a lot of things.
• 36:26
  Speaker 2: They're not gonna not see that giant water stain.
• 36:29
  Speaker 3: Yeah, the last thing you want is to say, oh, I don't know about that.
• 36:31
  Speaker 1: That's an accent.
• 36:32
  Speaker 1: Well come on, man.
• 36:34
  Speaker 3: And it's help.
• 36:36
  Speaker 3: Like you don't want to be live, but we're in California.
• 36:38
  Speaker 3: Like you'll lose your ass.
• 36:39
  Speaker 2: Yeah, yeah, there's gonna be some growing pains as these nuances ferret their way out, but ultimately, I do, in my heart of hearts, believe that it puts us in a better position, especially the industry as a whole.
• 36:53
  Speaker 2: Rico and I were talking about it before we started.
• 36:56
  Speaker 2: Like the most, the bitterest, worst complaint that you hear from someone who bought a house is my realtor didn't do shit and they made 20 grand or they made five grand or they made 40 grand on this deal and their sense is oh, they didn't do shit, like, and you know, like I-.
• 37:14
  Speaker 1: And some of them don't.
• 37:16
  Speaker 2: I can tell you that there's a lot of truth to that.
• 37:18
  Speaker 1: Some of them don't.
• 37:18
  Speaker 1: And sometimes there's a freebie that falls in the lap too 100%.
• 37:22
  Speaker 1: But I can't tell you the agents and this is the thing, right Like this is probably like being a parent as a kid Like you never really know how much your parent like did for you till maybe you're growing up in hindsight and I would say that same thing.
• 37:34
  Speaker 1: Like the real estate transactions I just had one that was crazy and it's like that duck analogy right Like above the surface, duck is cruising and underneath client doesn't need to know it.
• 37:43
  Speaker 1: Men, they almost fell through six times.
• 37:45
  Speaker 1: Now you thought it was smooth, but that was what your agent is doing and they're negotiating and they're back-channeling and they're talking and they're staying on the timelines and they have a good TC and they have a good process and they set expectations early and they communicate and they pick up the phone.
• 37:57
  Speaker 1: And I feel like now, because this was all supposed to be about more transparency now, if some of that stuff isn't posted like it used to be, if I'm looking on Zillow and I'm the buyer of first time home buyer, I don't know what the heck.
• 38:08
  Speaker 1: I'm looking at online more than ever.
• 38:10
  Speaker 1: So I think you have an agent that calls and I tell this to buyers all the time and it'll have changed a little bit.
• 38:16
  Speaker 1: But you I have so many of them are like, well, I don't want to use a real estate agent.
• 38:19
  Speaker 1: I was like, bro, you don't pay for it, you're gonna like you have a concierge, you're not gonna use.
• 38:24
  Speaker 1: Don't try to book the cruise yourself man.
• 38:26
  Speaker 1: This is a big deal, but now more than ever, I think there's gonna be less transparency for the client and you're gonna have to find someone that you trust, and so I just see a huge opportunity for real estate agents.
• 38:37
  Speaker 1: To the ones that are successful just keep leaning into like being a local source of knowledge.
• 38:43
  Speaker 3: Local, trusted source for sure, because now people are gonna pay you directly.
• 38:47
  Speaker 3: So now it's like how much are you actually worth, bro, and are you worth anything, right?
• 38:53
  Speaker 3: And it's people actually trust you because before you're right, before you could be a part-time agent and I'm gonna get paid by the seller.
• 38:59
  Speaker 3: You don't have to pay me, you're my homie, just give me the deal, I'll take care of you.
• 39:02
  Speaker 3: Yeah, it's gonna go away, bro.
• 39:05
  Speaker 3: Yeah, well, and it's In his last words.
• 39:07
  Speaker 1: Yeah, some of the stuff has happened in the lending world already.
• 39:10
  Speaker 1: Right, you have a couple different models.
• 39:11
  Speaker 1: So you have like a true retail point equity where there's non-delegated broker.
• 39:14
  Speaker 1: Then you have actual broker models.
• 39:16
  Speaker 1: So some of those like a retail lender, like well finance America, rest in peace.
• 39:20
  Speaker 1: But APM or some of the other places around here movement, they don't have to disclose what they make.
• 39:25
  Speaker 1: It's not really on there.
• 39:26
  Speaker 1: There's a processing fee and everything but those commission structures.
• 39:28
  Speaker 1: They're not on any of the forms you go to the broker side.
• 39:31
  Speaker 1: All those disclosures have exactly what Blake Bottleman, the loan officer, is making on this loan, and so it's not bad or good, it's just different and I think it really does come down to trust.
• 39:41
  Speaker 1: At the end of the day, if you have partners in the industry and I think that's what's gonna happen too right Is, rooms like this are gonna become more sacred because I think people are gonna be like hey, dan, I don't know what real estate agent should I use.
• 39:54
  Speaker 1: Well, I've always said this person, but in these times, definitely this person.
• 39:59
  Speaker 1: Don't try to do it on your own, don't try to go for the cut right here.
• 40:02
  Speaker 1: And here's why Because, more than ever, you're just gonna need somebody to forge ahead, because you guys aren't getting people in the back of your Mercedes and driving around like we did in the 90s, right, but it's a new game and there's a ton to be done there.
• 40:15
  Speaker 1: That's still really valuable, and I think the people that show their value just like you did, showing up as the warranty king and doing the things you needed to do to organically grow the business those people, I think, are still gonna be fine, because in every market there can be winners.
• 40:27
  Speaker 3: Oh 100%.
• 40:28
  Speaker 2: Yeah.
• 40:29
  Speaker 2: So I think that obviously, with everything we've just talked about, it's apparently that this is a difficult industry that's about to get more difficult.
• 40:39
  Speaker 2: Right now You're seven, eight years into doing what you've been doing.
• 40:43
  Speaker 2: Now Someone, go back, if you could talk to Rico eight years ago, before you decided to make what was what would be the two or three things, you say, hey, little Rico, man, you got to do these three things in order to like be the best that you possibly can be and outpace you know what your expectations are Got to embrace change.
• 41:04
  Speaker 1: First of all, yeah, like we're talking about right now, what's?
• 41:06
  Speaker 3: happening right now.
• 41:07
  Speaker 3: Embrace change, which is super hard.
• 41:09
  Speaker 2: Oh, bro, that's like that is the hardest thing.
• 41:11
  Speaker 2: People are creatures of habit for sure, hard.
• 41:15
  Speaker 3: Sometimes I think it's harder than moving, even though I hate moving.
• 41:17
  Speaker 3: Yeah.
• 41:18
  Speaker 1: Moving is the hardest thing I hate moving.
• 41:20
  Speaker 3: I'm in real estate.
• 41:20
  Speaker 3: I hate moving.
• 41:21
  Speaker 1: I don't really drink anymore, but you know what it used to help.
• 41:23
  Speaker 1: I was like get drunk when I packed boxes that somebody taught me that in college and that's actually a way better way to move.
• 41:28
  Speaker 1: Have a couple of drinks, turn on the music, and then it's actually kind of fun, it's not so bad.
• 41:32
  Speaker 1: But now I'm you know, I'm an older man Now I don't want to move anything.
• 41:34
  Speaker 1: So anyway, I could appreciate that.
• 41:36
  Speaker 3: Yeah.
• 41:37
  Speaker 3: And then I would say find out who you are, right, cause a lot of brand new agents and this happened to me, but a lot of brand new agents want to be someone else, like they always want to be who the top producer is, and if they, if they're out there door knocking, they want to go door knock, like you always want to do what the top producer is doing, and the reality is that's not who you are, and if that's not who you are, you're never going to be successful.
• 41:57
  Speaker 3: So find out who you are, stick to what you know and then just like, hone your craft, like, do that, cause if you're consistent, you'll do well, that's awesome man.
• 42:08
  Speaker 1: You know what I heard about that Cause.
• 42:09
  Speaker 1: I would say in my businesses, like that has been, the most challenging thing is to to act out of a true identity, because it's really easy to watch what other successful people are doing like mentors or other competitors, and try to emulate what they're doing.
• 42:22
  Speaker 1: And it's okay to keep an eye on them and keep a finger on the pulse of what they're doing and see if it integrates into your business or not.
• 42:26
  Speaker 1: But somebody had taught me one of the best ways to do that is to go people that you really trust, either professionally or personally, and ask them like kind of who do I, who do you think I am, what are my strengths?
• 42:36
  Speaker 1: And not in a you know, tell me who I am and what my worth is as a person.
• 42:40
  Speaker 1: But more of like what?
• 42:41
  Speaker 1: What do you see Like when you're thinking of me?
• 42:42
  Speaker 1: Cause, when I did that, I was actually a little bit surprised.
• 42:45
  Speaker 1: Some of the resounding things that everybody kind of said and there weren't things of like that came to the top of mind.
• 42:49
  Speaker 1: And then a couple of things are like well, I probably needed to hear that.
• 42:52
  Speaker 2: Like, maybe that's not who I want to be professionally and pay attention to your own personal body language.
• 42:57
  Speaker 2: When someone says that, like when Rico, if we go to work, come to me, you go hey man, I grew my business through door knocking and I was like, oh, you know, I'm pulling back going.
• 43:06
  Speaker 2: There's no way.
• 43:07
  Speaker 2: Like, yeah, I got no desire to do that.
• 43:09
  Speaker 2: Like I got to identify that and go now, if it's something.
• 43:12
  Speaker 2: Now if Rico is like, oh, I just went out and did a bunch of networking, I'm leaning in, like I love it, I'm all about people and their stories and talking to them and getting to know them.
• 43:20
  Speaker 2: Like, and now I'm in, I'm like, okay, cool, the networking thing works for me.
• 43:23
  Speaker 2: The door knocking I didn't feel very interested in probably not going to work for me, that's going to be a job.
• 43:28
  Speaker 3: Yeah, Same same.
• 43:29
  Speaker 3: I feel the same way.
• 43:30
  Speaker 1: But you said something really good there, though, to Dan, because you know Rico says consistency and we laugh because every single gamer that we have on here every week is consistency.
• 43:38
  Speaker 1: There's no more more consistent, I know, than Dan, but we talk about that.
• 43:42
  Speaker 1: Okay, maybe there's something you're not good at, but sometimes you also have to like lick that toe too right, Like you can't just do all the things in your business.
• 43:50
  Speaker 3: Yeah, you got a higher, yeah, higher, yeah, absolutely Got a higher.
• 43:53
  Speaker 3: I mean there's a lot of moving parts to real estate, like day one I had a TC there was no way I was going to do all that paperwork.
• 44:01
  Speaker 3: Like, bro, that's not me, and the good TC, they're great at it.
• 44:05
  Speaker 3: Bad ass.
• 44:06
  Speaker 3: Like man's a bad ass yeah, and we, and he lives in Florida.
• 44:10
  Speaker 1: Yeah and listen up.
• 44:11
  Speaker 1: Realtor's like from the lender side, I would rather deal with your awesome TC who has all of our shit or his shit together than you.
• 44:17
  Speaker 1: I mean, you go out and you be the face and you be the real estate person you make the phone calls.
• 44:21
  Speaker 1: But man, a good TC makes everybody happy, absolutely.
• 44:24
  Speaker 1: It's like a great kindergarten teacher, like I'm gonna.
• 44:26
  Speaker 1: I'm gonna give everybody their juice box.
• 44:27
  Speaker 1: I'm gonna make sure everybody sits down on the right color on the mat.
• 44:30
  Speaker 1: We're all gonna play nice.
• 44:31
  Speaker 2: And.
• 44:31
  Speaker 1: I know all the rules it's gonna be scheduled.
• 44:33
  Speaker 2: The kids are gonna stay in line because they know what's coming next.
• 44:36
  Speaker 2: Pretty emails with nice pictures and timelines and dates.
• 44:40
  Speaker 1: Yeah, I love that man.
• 44:41
  Speaker 1: Well, Dan, we got a question we love to ask.
• 44:46
  Speaker 2: So we're going to wrap this thing up.
• 44:47
  Speaker 2: Man, I know you're kind of pressed for time.
• 44:48
  Speaker 2: This is our favorite question.
• 44:49
  Speaker 2: We ask everybody, before we conclude every episode, if you could be someone for a day, dead or alive.
• 44:55
  Speaker 2: Who is it, man?
• 44:57
  Speaker 3: So so that's a that's a deep question.
• 45:00
  Speaker 3: Hell yeah, man, and honestly, if I could be someone for a day, dead or alive, I'd be myself 20 years from now, in the future Future you, okay, 20 years future me Wow, that's who I'd be, even if I'm dead man, because I just went through a quadruple bypass.
• 45:18
  Speaker 3: Oh, man, and for me it's like if I could be myself for a day, 20 years from now, whether I'm dead or alive, I just want to be able to look back because I think it would tell me a lot.
• 45:31
  Speaker 3: Yeah, and they will answer a lot of questions that I have today, questions that I have about the future, questions that I have about real estate, questions that I have about the stock market.
• 45:40
  Speaker 2: Yeah, yeah, you want that back to the future.
• 45:42
  Speaker 3: I was going to say yeah, I know this thing.
• 45:44
  Speaker 1: This is back to the future too, with Biff and the sports on my neck.
• 45:48
  Speaker 2: Yeah, his Rico Tana, exactly, Exactly, fly I thought about all the people I could be.
• 45:54
  Speaker 3: But the reality is like.
• 45:55
  Speaker 3: I mean, there's a lot of people that you know I come to mind, but for one day I wouldn't learn as much as I would learn from just being me.
• 46:03
  Speaker 1: Man, you know what?
• 46:04
  Speaker 1: We have not had a shitty answer to that yet on the show.
• 46:06
  Speaker 1: And a lot of these have.
• 46:08
  Speaker 1: Like man, I would never thought of that.
• 46:09
  Speaker 1: Yeah, that's why the question is so great.
• 46:13
  Speaker 2: Yeah, I stole it from another podcast and I love it.
• 46:15
  Speaker 2: It's so insightful Like I don't think you can trademark a question.
• 46:20
  Speaker 1: Probably soon.
• 46:21
  Speaker 1: Man, you can leave it up to the NAR, they'll figure it out.
• 46:24
  Speaker 3: I trademarked Silicon East.
• 46:25
  Speaker 3: That's true.
• 46:25
  Speaker 3: Yeah, yeah, let's go.
• 46:27
  Speaker 1: Yeah Well, it's been a pleasure.
• 46:28
  Speaker 1: Man, I really look forward to getting to know you better and thank you for coming on the show and a very inspiring, awesome story.
• 46:34
  Speaker 1: If you're looking for real estate or looking for somebody to emulate in your game and working, your try.
• 46:39
  Speaker 1: I didn't think you guys out there especially if you're young, up and coming, and one of the guys, one of the one of the biggest open hearts, just giving people you'll meet in the industry.
• 46:49
  Speaker 2: I mean everyone we've had on here super approachable.
• 46:52
  Speaker 2: Rico Rico is just he's second to none.
• 46:56
  Speaker 2: He's he's salt of the earth.
• 46:58
  Speaker 2: So check him out.
• 47:00
  Speaker 1: Thanks, thanks for joining us, guys, thanks for having me.
• 47:02
  Speaker 3: I appreciate your time.
• 47:03
  Speaker 1: Absolutely.