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How Realtors Can Survive the Market Shift · Massive Agent Podcast

• 0:00
  SPEAKER_00: Now you've probably noticed over the last few weeks, the market shifted.
• 0:04
  SPEAKER_00: Not even the few weeks, few months, right?
• 0:06
  SPEAKER_00: The market has shifted dramatically.
• 0:07
  SPEAKER_00: Uh the market in March is completely different than it is today.
• 0:11
  SPEAKER_00: And so there's a lot of agents who are freaking out, not knowing what to do.
• 0:15
  SPEAKER_00: They're panicking, wondering where their next deal is coming from because it's just changed so much.
• 0:19
  SPEAKER_00: So today on this episode, we're talking about how you can survive exactly what you need to do to survive this market shift.
• 0:27
  SPEAKER_01: The massive agent podcast with lead generation tips and strategies to get you more leads and sell more homes.
• 0:35
  SPEAKER_00: I love to buy houses.
• 0:36
  SPEAKER_00: I like to sell houses.
• 0:37
  SPEAKER_01: It takes brass balls to sell it.
• 0:40
  SPEAKER_01: Wait a minute.
• 0:42
  SPEAKER_01: Leads a week.
• 0:44
  SPEAKER_01: I've had better.
• 0:46
  SPEAKER_01: Oh have I got your attention now?
• 0:49
  SPEAKER_01: Here's your host, Dustin Brohm.
• 0:54
  SPEAKER_00: What's up, guys?
• 0:56
  SPEAKER_00: Welcome back to the Massive Agent Podcast, episode 249.
• 0:59
  SPEAKER_00: I am your host, Dustin Brohm, and today we're talking surviving market shifts because let's be honest, this shit changed pretty quick.
• 1:08
  SPEAKER_00: Back in February or March, we were still in the crazy bidding wars and it nuts, right?
• 1:13
  SPEAKER_00: It's changed super fast, and the Federal Reserve has not really helped that now, have they?
• 1:18
  SPEAKER_00: Jerome Powell, the head of the Fed, seems to uh seems to be hellbent on crashing the housing market or at least causing a major correction in the housing market.
• 1:28
  SPEAKER_00: Now, that doesn't necessarily mean home prices, although home prices will be affected negatively.
• 1:33
  SPEAKER_00: To what extent, we don't know yet.
• 1:35
  SPEAKER_00: I don't we're not going to see a big 40% drop like we did back in 08-09, I don't believe.
• 1:40
  SPEAKER_00: But uh it's yet to be seen exactly what a housing correction looks like.
• 1:45
  SPEAKER_00: It it I believe it's it's a major adjustment to the demand to cool off the crazy inflation that's happened.
• 1:53
  SPEAKER_00: Because housing inflation, both with the price of homes and rent, have been contributing greatly to the overall inflation rate, which is uh why the Fed is raising interest rates like crazy people to begin with.
• 2:04
  SPEAKER_00: So if they can if they can just kill the demand and really cool the shit out of this, possibly bring it down a little bit, um, then they can cool off that inflation and can start backing off the interest rate rises.
• 2:17
  SPEAKER_00: So there's a little background, there's some nerdy shit.
• 2:19
  SPEAKER_00: Okay.
• 2:20
  SPEAKER_00: Um I saw on the Broke Agent Media site today that home buyer demand, let me pull up the exact wording.
• 2:28
  SPEAKER_00: Um, goodbye to bidding wars, home buyer competition declines for the seventh straight seventh straight month.
• 2:35
  SPEAKER_00: Interesting.
• 2:36
  SPEAKER_00: So, you know, there's a lot of agents that I talk to that love what's happening right now because they're seeing it, it's more balanced, it's more fair, it's not as insane, and you're able to better serve your clients, and uh, and that's a good thing.
• 2:52
  SPEAKER_00: So there's also a lot of agents freaking out, worried that they're that they're gonna be able to survive.
• 2:59
  SPEAKER_00: If you're starting out in real estate right now, you may be one of those who's kind of freaking out because it's different than you thought it would be when you first got started.
• 3:07
  SPEAKER_00: Now, let me tell you this ahead of time.
• 3:09
  SPEAKER_00: Okay, but if you can if you can learn the industry now during this crazy, tumultuous, uncertain time, I promise you you're setting yourself up for massive success down the road.
• 3:22
  SPEAKER_00: It's those agents who started out three, four, five years ago, who they've never seen a recession, they've never really seen a correction, they've never seen interest rates go crazy.
• 3:32
  SPEAKER_00: Those are the ones that learned uh the easy way, so to speak.
• 3:38
  SPEAKER_00: They didn't have to know how to market to sell a listing, they just put it on the MLS.
• 3:42
  SPEAKER_00: That's why you saw so much attention and so many agents having hard-ons for getting the listing versus versus versus a buyer, because they knew as soon as they got the listing, it was a guaranteed sell.
• 3:53
  SPEAKER_00: Like just put it on the market, boom, it sells within a day or so.
• 3:57
  SPEAKER_00: Crazy amount over ask.
• 3:59
  SPEAKER_00: And they don't have to do shit.
• 4:00
  SPEAKER_00: They didn't really have to do any marketing.
• 4:02
  SPEAKER_00: Now, the good ones did because they knew that that marketing was auditioning for future business, but they didn't have to.
• 4:08
  SPEAKER_00: It was not required to do great marketing as a listing agent to sell the house.
• 4:12
  SPEAKER_00: And a lot of agents chose not to.
• 4:15
  SPEAKER_00: They chose to save the$100 on a professional photo photographer and do this shit on their iPhone, and people can tell.
• 4:24
  SPEAKER_00: So there are a lot of bad habits created.
• 4:27
  SPEAKER_00: Let's break some of those.
• 4:29
  SPEAKER_00: Now is a chance to break those bad habits, right?
• 4:31
  SPEAKER_00: There's gonna be some pain, there's gonna be some discomfort, but it doesn't have to be.
• 4:38
  SPEAKER_00: And what I'm gonna focus on today, guys, is what you need to be doing every single day so that you can not only survive but come out on top of this market shift.
• 4:50
  SPEAKER_00: I don't know how long it's gonna last.
• 4:52
  SPEAKER_00: Uh uh, no one really does, but it is shifting, it is changing, it's continuing to change.
• 4:57
  SPEAKER_00: The Fed seems absolutely hellbent on on uh bringing this market down.
• 5:02
  SPEAKER_00: So if they do, there's actually a big opportunity.
• 5:06
  SPEAKER_00: Before we jump into that, guys, I need to give a big shout out to one of the resources that you guys should really be diving into and taking advantage of right now.
• 5:15
  SPEAKER_00: Well, two of them actually.
• 5:17
  SPEAKER_00: So the first one, right now, if you are less busy, if you have a little bit less in your pipeline, you have a little bit more time to work on building the business as opposed to being in the business, that's actually a great thing.
• 5:30
  SPEAKER_00: So one of the things you should be doing is making sure that your systems are dialed in.
• 5:34
  SPEAKER_00: Okay, and and when when you're busy, when business is flying at you every which way, you let a bunch of clients fall through the cracks.
• 5:40
  SPEAKER_00: You let internet leads fall through the cracks because you're like, oh, I'm busy, I'm making money.
• 5:44
  SPEAKER_00: If a few clients fall through the cracks, okay, I'm still doing well.
• 5:47
  SPEAKER_00: Yes, but what about now?
• 5:49
  SPEAKER_00: Don't you wish that you could plug those holes in your systems, in your drip campaigns, in your lead follow-up, in your your data input?
• 5:56
  SPEAKER_00: You know, how many times over the last year have you met with somebody and were too busy or allowed yourself to get too busy to take notes on who the hell they were, what their needs are, what you talked about, and then you then they call you six months later, you pull them up in your CRM, and you're like, I have no fucking idea who this person is.
• 6:16
  SPEAKER_00: That's a problem.
• 6:17
  SPEAKER_00: So what you need is a better system, and there's no better system for agents to manage their whole business than follow-up boss.
• 6:24
  SPEAKER_00: Their mobile app is absolutely fantastic.
• 6:26
  SPEAKER_00: So you can literally leave the listing presentation or a buyer buyer appointment and get on their mobile app, take some notes, submit it, boom, and then seven months later, when you talk to that person again, you know exactly what they talked about, what their needs are, all that stuff.
• 6:41
  SPEAKER_00: Uh they have the most user-friendly platform there is.
• 6:44
  SPEAKER_00: So I highly recommend you guys take advantage of follow up boss's 30-day free trial.
• 6:49
  SPEAKER_00: All you have to do is go to MassiveAgent Podcast.com slash follow up boss and leave your credit card in your pocket.
• 6:57
  SPEAKER_00: They don't want it, they just want to give you a 30-day free trial.
• 7:01
  SPEAKER_00: All you have to do is sign up and use the damn thing.
• 7:04
  SPEAKER_00: All right, make sure you use my link because if you go anywhere else, it's only a 14-day trial and uh 30 is better.
• 7:10
  SPEAKER_00: So there we go.
• 7:12
  SPEAKER_00: Take this opportunity, guys, to button up all that shit.
• 7:15
  SPEAKER_00: And and the second, education.
• 7:18
  SPEAKER_00: When there's so much uncertainty going on, so much um so much is changing so fast, those who are the most informed win.
• 7:26
  SPEAKER_00: And if you are the agent who's the most informed, and not just the most informed, because we know a bunch of super intelligent people that are fucking idiots that can't uh when it comes to trying to explain it to to the to somebody else, right?
• 7:39
  SPEAKER_00: They just talk over everyone's head, and that doesn't make a good real estate advisor.
• 7:43
  SPEAKER_00: Now, does it?
• 7:44
  SPEAKER_00: So you need to get really educated, but then learn how to communicate the concepts that you've learned, the concepts of what to do in this market depending on the buyer or seller situation.
• 7:54
  SPEAKER_00: You need to get really fucking good at communicating that.
• 7:57
  SPEAKER_00: And one of the best tools that I've seen is keeping current matters.
• 8:00
  SPEAKER_00: If you go check out KCM, they have the most up-to-date graphs and charts, and and they basically take these con these complex concepts, like this nerdy economic shit and market condition shit, and they put it into a very easy-to-use graphic.
• 8:15
  SPEAKER_00: Uh, they give you the verbiage, they they tell you what to say in your videos and posts.
• 8:20
  SPEAKER_00: So big shout out to uh keeping current matters for uh keeping agents informed.
• 8:26
  SPEAKER_00: You guys have to take the first step.
• 8:28
  SPEAKER_00: Go check out keeping current matters.
• 8:30
  SPEAKER_00: All right, guys, let's jump into the bulk of what we're here to talk about.
• 8:35
  SPEAKER_00: It's gonna be short and sweet.
• 8:37
  SPEAKER_00: Okay, right now, I'm not this is not gonna be this big long, you know, hour-long episode, but right now, while things are changing so dramatically, agents are scared.
• 8:46
  SPEAKER_00: Agents are sitting down, they're they're pulling back their ad spend, they're doing less because they're confused and and fearful.
• 8:53
  SPEAKER_00: And when you're confused and fearful, you tend to you know not act.
• 8:58
  SPEAKER_00: So those agents are basically laying down.
• 9:01
  SPEAKER_00: Your your competitors, those who are still staying in the industry, are kind of laying down.
• 9:06
  SPEAKER_00: This is one of those opportunities, like in the beginning of COVID when nobody knew what the fuck was happening.
• 9:11
  SPEAKER_00: There's a real opportunity for those who do that jump in and just do more and gain more visibility on the interwebs to actually thrive.
• 9:21
  SPEAKER_00: This is that time.
• 9:22
  SPEAKER_00: Consumers, whether they're watching the news, god forbid, or not, they're either dramatically misinformed or uninformed.
• 9:30
  SPEAKER_00: Okay?
• 9:31
  SPEAKER_00: So your job is to take all of that shit and be the lighthouse and be the adult in the room and say, hey, here's what all of this means to you.
• 9:40
  SPEAKER_00: Here's how all of this affects you if you're planning on selling your house.
• 9:43
  SPEAKER_00: Or if you want to buy your first investment property, here's what all of this means microphone, here's what all of this means to you.
• 9:52
  SPEAKER_00: That's what you need to be doing.
• 9:53
  SPEAKER_00: And how the hell do you do that?
• 9:55
  SPEAKER_00: Well, you could do a podcast, you could absolutely do a podcast, but the best way to connect with people is for them to not just hear you, but see you.
• 10:04
  SPEAKER_00: That's why we're doing this podcast on YouTube now.
• 10:06
  SPEAKER_00: That's why we don't just do the audio podcast, and that's why I do so much with social media videos, is I want to make connections with agents.
• 10:15
  SPEAKER_00: I want what I'm saying to connect with them.
• 10:17
  SPEAKER_00: I want um, I want you guys to get to know me, right?
• 10:20
  SPEAKER_00: I I want people to get to know me through my videos, to connect personally, because that's how we become partners and decide to work together.
• 10:27
  SPEAKER_00: That's how people decide they want to join our Massive Agent Society group is they connect with me and the message and what we're doing through video.
• 10:35
  SPEAKER_00: Okay, they can't just read it and be like, they sound amazing.
• 10:38
  SPEAKER_00: I'm gonna sign up and you know, I'm gonna join with them, I'm gonna hire them.
• 10:42
  SPEAKER_00: They need to see and hear you.
• 10:44
  SPEAKER_00: So the number one thing you need to be doing, and I'm sure this is no surprise, the number one thing you need to be doing in a in an uncertain shifty market is be seen online more often.
• 10:56
  SPEAKER_00: People are not using social media less, they're absolutely still diving deep every single day in their news feeds.
• 11:03
  SPEAKER_00: So who's showing up?
• 11:04
  SPEAKER_00: Are you showing up?
• 11:06
  SPEAKER_00: Because if you're not showing up in someone's news feed, I guarantee fucking to you, your competitor is.
• 11:11
  SPEAKER_00: One of your local competitors is showing up in their news feed.
• 11:15
  SPEAKER_00: So if you are too scared or nervous or self-conscious to do video yourself, you have to get over it.
• 11:23
  SPEAKER_00: You have to get over yourself and do it anyways, and start practicing.
• 11:27
  SPEAKER_00: Start practicing with stories.
• 11:29
  SPEAKER_00: It's so much easier and less um less intimidating to do it in the stories.
• 11:34
  SPEAKER_00: Okay, it stories are practice, and you can do it 15 seconds at a time.
• 11:38
  SPEAKER_00: People don't expect your stories to be all polished and have great um lighting and all this stuff, right?
• 11:44
  SPEAKER_00: So practice getting comfortable communicating to a camera in your stories.
• 11:49
  SPEAKER_00: But you've got to do it because I'll remind you again if you are not showing up in the news feed of your ideal audience, your competitors are.
• 11:58
  SPEAKER_00: That's just a fact.
• 12:00
  SPEAKER_00: And so the the reason why this is not new to any of you, I've been saying this forever.
• 12:08
  SPEAKER_00: If you if you were letting your insecurities hold you back, there's a strong chance you will not survive in this industry.
• 12:16
  SPEAKER_00: Those agents, even if you're brand new and don't know what the fuck you're talking about, you learn, then you turn on the camera and start just turning to the person that you were yesterday or the week before or the year before and speak to those people.
• 12:31
  SPEAKER_00: You're as Ed Milette says, you are most qualified to help the people you used to be.
• 12:38
  SPEAKER_00: So if you just bought your first house, turn around and teach those who want to buy their first house.
• 12:43
  SPEAKER_00: If you've bought a few houses, you've bought and sold, you live in a luxury home now, awesome.
• 12:48
  SPEAKER_00: Turn around and teach the people who are on that same path that are just a step or two behind you.
• 12:53
  SPEAKER_00: Teach them what you've learned.
• 12:54
  SPEAKER_00: Teach them what they need to know in this market.
• 12:57
  SPEAKER_00: Now, here's the thing: you can't just do any old video.
• 13:01
  SPEAKER_00: When you're starting out, it's gonna suck.
• 13:05
  SPEAKER_00: It can't not suck when you're starting out.
• 13:08
  SPEAKER_00: You have to get through that.
• 13:10
  SPEAKER_00: Repetitions is how you get through it.
• 13:12
  SPEAKER_00: So you absolutely need to first get comfortable.
• 13:16
  SPEAKER_00: But as you start doing that and you're trying to improve with each video, you need to focus on the title or rather the topic of the video, what's it about, and then figure out a hook to hook viewers in the first three seconds.
• 13:28
  SPEAKER_00: Those agents who are having the most success on social media at converting those viewers into clients, they are the ones who are mastering the hook.
• 13:38
  SPEAKER_00: The hook is meant to give broad appeal to a niche topic.
• 13:42
  SPEAKER_00: So if you want to talk about interest rates going up, not everyone cares about that.
• 13:46
  SPEAKER_00: Or hey, you don't have to put 20% down when you buy a house.
• 13:51
  SPEAKER_00: If that's the title, you're gonna get a couple people that watch.
• 13:54
  SPEAKER_00: But if you say, if it's if it's titled and you say in the beginning, this could be the biggest mistake you'll ever make financially, and then you go on to explain how they don't need to put 20% down, and if they wait to save 20%, the price of the house is gonna go through the roof, and or the interest rate's gonna go through the roof, and they're gonna miss out on so much by waiting.
• 14:13
  SPEAKER_00: They don't need 20%, so put down five or three and a half or whatever.
• 14:18
  SPEAKER_00: The hook is what matters, and the best way to get good at hooks, not just to practice, but to look at others who are doing well.
• 14:25
  SPEAKER_00: Look at my videos.
• 14:26
  SPEAKER_00: I think I do a decent job with my hooks.
• 14:28
  SPEAKER_00: Look at Neil Dingra, look at Trevor York, look at Shivani Peterson.
• 14:33
  SPEAKER_00: There's so many great um look at Michael Caraway in Dallas.
• 14:37
  SPEAKER_00: Like, look at these agents who are really honing their skills with the hook because the hook is what matters.
• 14:44
  SPEAKER_00: If you cannot hook a viewer in the first three seconds, you're done.
• 14:47
  SPEAKER_00: The rest of the video doesn't matter.
• 14:50
  SPEAKER_00: Right now, focus on not just doing video, but practicing hooks.
• 14:54
  SPEAKER_00: Pay attention to others who are doing hooks well and figure out how to how to take the topic that you want to discuss and hook somebody to where it grabs their attention, and then you can deliver concisely, idea ideally within 30 to 40 seconds, some information.
• 15:10
  SPEAKER_00: Then in the caption of the post, especially on Instagram, uh, Facebook reels, TikTok, YouTube Shorts, all of that, use the video just to give a broad overview, like some really concise talking points, and then elaborate in the caption so it keeps them on the post for a long time, which tells the algorithm, hey, this is good shit.
• 15:32
  SPEAKER_00: Right now, guys, the way to survive this market shift is to be seen as often as possible in as many places as possible.
• 15:39
  SPEAKER_00: And every time you are seen, try to improve it somehow.
• 15:42
  SPEAKER_00: Really watch a few videos on lighting.
• 15:45
  SPEAKER_00: How do you get the lighting right?
• 15:47
  SPEAKER_00: Like you see, I have a colored light that's switching behind me.
• 15:50
  SPEAKER_00: It provides contrast between me and the background.
• 15:53
  SPEAKER_00: Grab a light, a softbox, they're 30 bucks.
• 15:56
  SPEAKER_00: You need to master lighting.
• 15:57
  SPEAKER_00: I watched two YouTube videos on YouTube Studio Lighting or something like that, or home office lighting for video, whatever.
• 16:04
  SPEAKER_00: I watched two videos and learned everything I need to know.
• 16:07
  SPEAKER_00: Learn lighting, get your sound right, get the hooks and the topics dialed in, and I promise you, you will start getting business from social and you'll be able to be seen more because your competitors will be doing less.
• 16:19
  SPEAKER_00: That's how you survive this market shift.
• 16:21
  SPEAKER_00: You have to get past your insecurities and do.
• 16:24
  SPEAKER_00: And for those of you who that are willing to do that shit, you're gonna thrive.
• 16:27
  SPEAKER_00: Those of you who will continue to worry about how you look or I'm gonna sound stupid or whatever, you I hope that you can survive.
• 16:39
  SPEAKER_00: I hope that you can survive.
• 16:41
  SPEAKER_00: You gotta get over yourself.
• 16:42
  SPEAKER_00: The only way to do that is to practice.
• 16:44
  SPEAKER_00: Accept the fact that your videos are going to suck shit in the beginning, they're supposed to.
• 16:49
  SPEAKER_00: I found my first three YouTube videos.
• 16:51
  SPEAKER_00: I went back and found them.
• 16:53
  SPEAKER_00: I'm gonna be posting those over the next week or so on Facebook and in my stories.
• 16:57
  SPEAKER_00: They are so embarrassing, but everyone starts somewhere.
• 17:01
  SPEAKER_00: Had I not done those, you wouldn't be hearing from me today.
• 17:03
  SPEAKER_00: You wouldn't be watching this shit today.
• 17:06
  SPEAKER_00: You've got to start somewhere.
• 17:07
  SPEAKER_00: Guys, go get it.
• 17:08
  SPEAKER_00: Get out of your way, take advantage of this ridiculously huge opportunity you have to grow and take market share and thrive when other agents are fearful.
• 17:18
  SPEAKER_00: You may look back at this two years from now and be like, I what a squandered opportunity.
• 17:22
  SPEAKER_00: I wish I would have done more.
• 17:24
  SPEAKER_00: Even you guys that that dive in and crush it, you're still gonna wish you did more.
• 17:29
  SPEAKER_00: Have a great week.