Latest / Financial Survival Network / Making the Leap: A Corporate Escapees Guide to Real Estate - Ryan Waller#6144

Transcript

Making the Leap: A Corporate Escapees Guide to Real Estate - Ryan Waller#6144 · Financial Survival Network

• 0:00
  Speaker 1: And I just felt, you know, at the end of it,
• 0:02
  Speaker 1: that I was, as you mentioned, a slave to the
• 0:05
  Speaker 1: corporation at a cost. And I felt like I had
• 0:08
  Speaker 1: all these creative ideas for the company and all these
• 0:11
  Speaker 1: great plans, but you know, there's a lot of red tape,
• 0:14
  Speaker 1: there's a lot of planning and hoops to jump through,
• 0:17
  Speaker 1: and you know, it wasn't specific to those companies I found,
• 0:19
  Speaker 1: you know, corporately, that's just a bit of a challenge.
• 0:21
  Speaker 1: And I thought, if I have these ideas, the company
• 0:24
  Speaker 1: loves them, but they can't seem to implement them.
• 0:26
  Speaker 2: Could I do it in a different way or in
• 0:28
  Speaker 2: a better way.
• 0:28
  Speaker 3: So you're listening to Carrie, let'sa's financial survival network where
• 0:33
  Speaker 3: you get valuable information you just can't find anywhere else
• 0:36
  Speaker 3: to thrive in today's trying times. You need the Financial
• 0:40
  Speaker 3: Survival Network now more than ever. Go to Financial Survivalnetwork
• 0:45
  Speaker 3: dot com and get your free newsletter and gift. Financial
• 0:49
  Speaker 3: Survival Network now more than ever.
• 0:56
  Speaker 4: And welcome you are listening to the Financial service Network.
• 1:00
  Speaker 4: I'm your host, Carrie Lutz. Hey, so you're in a
• 1:03
  Speaker 4: cushy corporate career, but you're never really sure because hey,
• 1:07
  Speaker 4: when you work for somebody else, You're a cost to
• 1:10
  Speaker 4: be contained, the cost to be minimized dealt with.
• 1:14
  Speaker 5: Your job could be gone at any moment. So what
• 1:17
  Speaker 5: do you do? You know what you do?
• 1:18
  Speaker 4: You beat them to the punch, You leave before they
• 1:21
  Speaker 4: get rid of you. But you leave for greener pastures,
• 1:24
  Speaker 4: which is exactly what my next guest, Ryan Weller did.
• 1:28
  Speaker 5: Ryan, great to have you on.
• 1:30
  Speaker 4: So you were basically working for her life, right, Yeah,
• 1:36
  Speaker 4: and then now you're in real estate for yourself and
• 1:38
  Speaker 4: doing quite well at it.
• 1:40
  Speaker 5: Yeah, it must have been a little scary at first. Huh.
• 1:43
  Speaker 2: Yeah.
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  Speaker 1: I you know, going back, I started the corporate career
• 1:47
  Speaker 1: that I had, I had run for twenty years, so
• 1:50
  Speaker 1: working for some big companies. Kimberly Clark Neslie was my
• 1:55
  Speaker 1: last job. I was there for a decade and I
• 1:59
  Speaker 1: just felt, you know, at the end of it that
• 2:00
  Speaker 1: I was, as you mentioned, a slave to the corporation,
• 2:04
  Speaker 1: a cost. And I felt like I had all these
• 2:07
  Speaker 1: creative ideas for the company and all these great plans,
• 2:10
  Speaker 1: but you know, there's a lot of red tape, there's
• 2:12
  Speaker 1: a lot.
• 2:13
  Speaker 2: Of planning and hoops to jump through, and you.
• 2:15
  Speaker 1: Know, it wasn't specific to those companies I found, you know, corporately,
• 2:18
  Speaker 1: that's just a bit of a challenge.
• 2:19
  Speaker 2: And I thought, if I have.
• 2:21
  Speaker 1: These ideas, the company loves them, but they can't seem
• 2:24
  Speaker 1: to implement them, could I do it in a different
• 2:26
  Speaker 1: way or in a better way. So finally, in twenty eighteen,
• 2:30
  Speaker 1: I did it. I pulled the trigger and I left
• 2:32
  Speaker 1: the corporate world and went into the unknown and the
• 2:35
  Speaker 1: risk of commission only into real estate.
• 2:39
  Speaker 5: So what do you think the biggest mistake you.
• 2:41
  Speaker 2: Made was when I left or when I started?
• 2:43
  Speaker 5: Well, you know once you left.
• 2:46
  Speaker 1: Well, I think once I left, I had really put
• 2:50
  Speaker 1: myself in a situation where I had to figure things out.
• 2:53
  Speaker 2: I had to make decisions.
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  Speaker 1: So, you know, you're in a corporate world. You have
• 2:56
  Speaker 1: a regular, steady paycheck. You've got a situation where all
• 2:59
  Speaker 1: of yourills you can plan them out, you can do
• 3:01
  Speaker 1: things very scheduled and methodically. But you quit and you
• 3:07
  Speaker 1: take a you know, a commission only job. You have
• 3:09
  Speaker 1: to think of things in a different way. You're running
• 3:11
  Speaker 1: a business now, and you know planning made some mistakes there,
• 3:16
  Speaker 1: you know, running your own business and having to come
• 3:18
  Speaker 1: up with your own financials and maybe advertising too. Much
• 3:21
  Speaker 1: or maybe not allocating enough here or there. I made
• 3:24
  Speaker 1: a few mistakes with with the finances.
• 3:26
  Speaker 2: I think.
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  Speaker 5: So the bucks stopped with the box, the buck stopped.
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  Speaker 1: Yeah, I mean, hey, it was the bucks were coming in,
• 3:33
  Speaker 1: but it was making sure that they were allocated in
• 3:35
  Speaker 1: the right places was sort of the challenge. And I
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  Speaker 1: mean in the end with every failure, there's some learning opportunities.
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  Speaker 1: I mean, we figured it out, but it took a
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  Speaker 1: few years.
• 3:42
  Speaker 2: To get there.
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  Speaker 5: You got a failure way to success and.
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  Speaker 2: That right, that's right, that's right, that's really.
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  Speaker 5: What it's about.
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  Speaker 4: So, hey, once you made the plunge, what was the
• 3:52
  Speaker 4: biggest obstacle that?
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  Speaker 1: Yeah, yeah, I think you know, any of your listeners
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  Speaker 1: that have gone into real estate have probably face this.
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  Speaker 1: I mean, it's a very competitive industry. You know, it's
• 4:06
  Speaker 1: a market here just outside of Toronto where it's very saturated.
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  Speaker 1: You know, seventy thousand agents in a market and of
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  Speaker 1: that only you know, twenty percent of them make up
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  Speaker 1: the majority of the sales. It's the Pereto eighty twenty
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  Speaker 1: and role part of me.
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  Speaker 5: The eighty twenty ye rolls.
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  Speaker 2: The eighty twenty role.
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  Speaker 1: Yeah, and it really in fact in real estate, it's
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  Speaker 1: probably ninety ten. And you know, you're in a situation
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  Speaker 1: where people have established relationships with the realtor, they go
• 4:37
  Speaker 1: to the ones who have the greatest marketing and advertising
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  Speaker 1: out there in the market, and the biggest obstacle is
• 4:44
  Speaker 1: figuring out how do you become that twenty percent or
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  Speaker 1: ten percent or whatever it is and get yourself in there.
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  Speaker 1: And I think part of the reason I was able
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  Speaker 1: to leave the corporate world was that I realized there
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  Speaker 1: was a bit of a niche in our local market
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  Speaker 1: in that there wasn't a lot of someone taking the
• 5:03
  Speaker 1: position of a market authority providing insights in the market,
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  Speaker 1: providing honest advice on different categories within the marketing. And
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  Speaker 1: I saw it as an opportunity in our market. And
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  Speaker 1: I had learned that from my corporate career because I
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  Speaker 1: often represented brands that were the market authority in their
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  Speaker 1: own category. So it was something I had picked up
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  Speaker 1: and realized there was a gap for it and went
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  Speaker 1: for it.
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  Speaker 4: So lack of branding, the average realtor, especially the ones
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  Speaker 4: have been at it for a long time, don't get
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  Speaker 4: the fact that you're actually a brand.
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  Speaker 1: Yeah, it's crazy to think, but I'd say a good
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  Speaker 1: portion of this job, fifty percent of this job is
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  Speaker 1: a brand. Yes, you're selling houses, but it's more about
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  Speaker 1: i'd say, more so about your brand, getting yourself out there,
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  Speaker 1: getting people to trust you, getting people to know you.
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  Speaker 1: And we did that through education, simply providing information to people.
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  Speaker 4: So in this field, and I will confess, I'm recovering
• 5:59
  Speaker 4: attorney also a license realtor in Florida.
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  Speaker 5: Though, Okay, I don't do.
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  Speaker 4: It for a living, you know, I just sell my
• 6:05
  Speaker 4: own stuff, and on occasion someone will beg me to
• 6:09
  Speaker 4: do it for them, and.
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  Speaker 5: That's the only way they have to beg. They have
• 6:12
  Speaker 5: to get down.
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  Speaker 4: On their knees and beg me to do it because
• 6:15
  Speaker 4: I just have no patience for it. But I'd never
• 6:19
  Speaker 4: deal with buyers, yeah, because anytime I deal with buyers,
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  Speaker 4: I have buyers remorse.
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  Speaker 5: Yeah.
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  Speaker 4: But with that, you know, I do enjoy the process
• 6:33
  Speaker 4: of it. I like looking at homes and checking it
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  Speaker 4: out and seeing their weaknesses, their strengths, you know, all
• 6:39
  Speaker 4: that good stuff. Hey, what do you what do you
• 6:44
  Speaker 4: look for when you take on a client.
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  Speaker 1: I think I look for someone that is interested. They
• 6:50
  Speaker 1: came to us, So, for example, We have a lot
• 6:51
  Speaker 1: of people that come to us from cold call. So
• 6:53
  Speaker 1: we do a lot of marketing in our market. We're
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  Speaker 1: on the radio, we do a lot of online presence,
• 7:00
  Speaker 1: We have social media, we do newspaper or all kinds
• 7:03
  Speaker 1: of stuff online print, and so oftentimes the clientele that
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  Speaker 1: comes to us is someone that probably aligns with one
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  Speaker 1: of those things. They read an article we wrote, or
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  Speaker 1: they hurt us on the radio, and so we are
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  Speaker 1: unique in that. And i'd encourage any of your listeners
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  Speaker 1: that are you know, in real estate, that are trying
• 7:18
  Speaker 1: to figure out how to get more business is try
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  Speaker 1: to convert yourself from looking for clients to clients coming
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  Speaker 1: to you because they trust what you're doing, they trust
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  Speaker 1: the information you're providing. So we look for clients that
• 7:32
  Speaker 1: are like minded to us. We look for clients that
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  Speaker 1: appreciate what it is we do and the value that
• 7:37
  Speaker 1: we offer, and what we don't look for and what
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  Speaker 1: we don't often attract our people who are looking for
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  Speaker 1: the best, the cheapest deal.
• 7:45
  Speaker 2: What we tend to attract our.
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  Speaker 1: People who want the service, they want the higher price,
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  Speaker 1: they want the marketing that's going to bring people into
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  Speaker 1: their house. They want someone who can negotiate for them,
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  Speaker 1: and they come to us after they see that we
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  Speaker 1: can provide these things for them.
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  Speaker 4: So okay, hey, tell me about the first client you're fired.
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  Speaker 2: Oh man, well, I can tell you.
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  Speaker 1: Uh it was there was one not long ago that
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  Speaker 1: is indicative of some of the things that we've we've
• 8:12
  Speaker 1: done here. And it's I mean, it's it's usually the
• 8:15
  Speaker 1: same story. You provide them insights and advice. It always
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  Speaker 1: comes down to, okay, i'm listing your house. Let's talk
• 8:22
  Speaker 1: about the list price. And a situation where the client says, well,
• 8:27
  Speaker 1: let's let's it's the realtor's least favorite words, which are
• 8:31
  Speaker 1: let's test the market. And it's a situation where you've
• 8:34
  Speaker 1: got a seller who says, well, I know what the
• 8:35
  Speaker 1: market value is, but let's just see if we can go.
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  Speaker 2: Five percent higher than that.
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  Speaker 5: Uh.
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  Speaker 1: You know, when you put the house on the market,
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  Speaker 1: you say to them, well, look, okay, we can try that,
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  Speaker 1: but let's have a plan B. Because you know you
• 8:45
  Speaker 1: are above market value. There's no significant reason why someone
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  Speaker 1: would pay above market value in this market. And you
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  Speaker 1: list the house and it sits, and it sits, and
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  Speaker 1: then they refuse to reduce the price.
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  Speaker 5: It's my fault fault, right.
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  Speaker 1: Yeah, despite the fact that I've done all the marketing
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  Speaker 1: I could possibly do for the house, the fact that
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  Speaker 1: I've you know, staged it for them, the fact that
• 9:06
  Speaker 1: all these different things we've done with runt open houses,
• 9:08
  Speaker 1: We've done everything, and I still can't bring it a buyer.
• 9:10
  Speaker 1: And you know, you talk about a plan B in
• 9:12
  Speaker 1: the price reduction and they say, no, I'm not doing that.
• 9:14
  Speaker 2: You should be able to sell this house. That's why
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  Speaker 2: we hired you, you know. I mean, in the end,
• 9:19
  Speaker 2: you just come down to I wouldn't call it.
• 9:22
  Speaker 1: I mean, I wouldn't tell them that I was firing them,
• 9:24
  Speaker 1: but I would say to them, I've done as much
• 9:26
  Speaker 1: for you as I can. There's nothing else that I
• 9:28
  Speaker 1: can do for you. Unfortunately, you know, if you need
• 9:31
  Speaker 1: another realtor to help you with this, because I can't do.
• 9:32
  Speaker 2: It doors all.
• 9:34
  Speaker 4: Hey, so it's kind of like breaking up with a
• 9:40
  Speaker 4: significant other. Yeah, but the best way to do it
• 9:43
  Speaker 4: is say not that you're the wrong person for me
• 9:46
  Speaker 4: to you or I can't stand you anymore. It's like, hey,
• 9:49
  Speaker 4: I'm just not the right person for you, right, It's
• 9:54
  Speaker 4: not you, it's me. Yeah, exactly, that's right, and.
• 9:57
  Speaker 2: They get it, and they were they were okay with it.
• 9:59
  Speaker 1: I mean, you know, position that way, they get it,
• 10:02
  Speaker 1: and their house still hasn't come back on the market since,
• 10:04
  Speaker 1: so they've taken a break.
• 10:06
  Speaker 5: Ye, they'll be back. They always come crawling back, right.
• 10:10
  Speaker 2: Yeah, we'll see, We'll see what they do.
• 10:12
  Speaker 1: But I think that handling it professionally, as opposed to
• 10:15
  Speaker 1: just pushing a piece of paper and saying you're fired,
• 10:18
  Speaker 1: is potentially leaving the door open for them to come back.
• 10:21
  Speaker 2: Yeah, yeah, yeah, yeah.
• 10:25
  Speaker 4: So what about like the saw that your first loss
• 10:30
  Speaker 4: is your best loss, your first price. Often your first
• 10:34
  Speaker 4: offer is your best offer. It's always been the case
• 10:36
  Speaker 4: for me, but I don't know.
• 10:39
  Speaker 2: Yah, it often is, Yeah, it often is.
• 10:42
  Speaker 1: And we're when we're in a situation in our market
• 10:44
  Speaker 1: here where we're moving, we're teetering on a balanced market
• 10:48
  Speaker 1: here where there's lots of room to negotiate. Conditions and
• 10:51
  Speaker 1: contingencies are still part of offers. Oftentimes we say to clients,
• 10:56
  Speaker 1: you know, if you get an offer out of the
• 10:57
  Speaker 1: gate and it's reasonable, odds are pretty good, it's the
• 11:00
  Speaker 1: best one you're going to get. Because the longer this
• 11:01
  Speaker 1: house sits on the market, the more likely it is
• 11:04
  Speaker 1: you're going to have a buyer come in and try
• 11:05
  Speaker 1: to negotiate with you. So we do follow that philosophy
• 11:09
  Speaker 1: is the first offer is your best offer. Sometimes the
• 11:10
  Speaker 1: first offer is really terrible, but you try to negotiate
• 11:14
  Speaker 1: it to be better, right, And sometimes time is of
• 11:18
  Speaker 1: the essence. I mean that if you can get an
• 11:19
  Speaker 1: offer in day one or day two, it's an indication
• 11:21
  Speaker 1: that you're pretty close to the right price.
• 11:23
  Speaker 5: Yeah.
• 11:24
  Speaker 4: Yeah, and you never you know that the first offer
• 11:27
  Speaker 4: could be your last offer too.
• 11:29
  Speaker 2: Yeah, yeah, I've had. I have one right now that
• 11:31
  Speaker 2: I'm dealing with.
• 11:32
  Speaker 1: I had a list in it in May, had an
• 11:34
  Speaker 1: offer in the first five days, and we didn't take it,
• 11:38
  Speaker 1: And here we are at the end of August, still
• 11:40
  Speaker 1: sitting on the market. So it does happen. I mean,
• 11:43
  Speaker 1: they didn't take it in that case because the buyer
• 11:45
  Speaker 1: dave him the lowball offer on day five, which was
• 11:48
  Speaker 1: not really a reasonable request.
• 11:50
  Speaker 2: But still, you know, it's the only offer we've had.
• 11:54
  Speaker 4: Hey, sometimes it's the best offer in town, so you
• 11:56
  Speaker 4: got to go for it. So Hey, looking back on
• 12:00
  Speaker 4: your experiences now, seeing how well you've done, what advice
• 12:05
  Speaker 4: do you give other people who are in similar we're
• 12:08
  Speaker 4: in a similar situation to you.
• 12:10
  Speaker 2: Yeah, I think there are a lot of people out there.
• 12:12
  Speaker 1: I know when I was in the corporate world, there
• 12:14
  Speaker 1: were a lot of people out there that were in
• 12:15
  Speaker 1: similar roles to me who felt like they were just
• 12:18
  Speaker 1: in a day to day slug going into the nine
• 12:20
  Speaker 1: to five in their office, not wanting to They wanted
• 12:22
  Speaker 1: to do more, but they were in a position where
• 12:24
  Speaker 1: they just didn't feel like they were accomplishing much. And
• 12:27
  Speaker 1: I say to those people, really think about what matters
• 12:30
  Speaker 1: to you, and really think about your skill set. Because
• 12:33
  Speaker 1: what I didn't realize in my corporate job was all
• 12:35
  Speaker 1: the skills that I had.
• 12:37
  Speaker 2: I had a lot of skills.
• 12:38
  Speaker 1: I had a lot of Nestli for example, the last
• 12:40
  Speaker 1: company I was at, We're great.
• 12:41
  Speaker 2: We're a great.
• 12:42
  Speaker 1: Company for teaching entrepreneurial skills. I didn't know it at
• 12:45
  Speaker 1: the time, but when I left the corporate world and
• 12:48
  Speaker 1: got into real estate, the skills were transferable.
• 12:51
  Speaker 2: I kept those skills.
• 12:53
  Speaker 1: Negotiating, planning, storytelling, all of those things were really beneficial
• 12:58
  Speaker 1: to me. So I'd encourage anybody that it's in a
• 13:00
  Speaker 1: corporate job that wants to leave us. Take a look
• 13:02
  Speaker 1: at your skill set and take a look at what
• 13:03
  Speaker 1: it is people tell you you do well, and see
• 13:05
  Speaker 1: what you can transfer that to you, because oftentimes your
• 13:08
  Speaker 1: skills that you have in your corporate job are transferable
• 13:11
  Speaker 1: to something that you can manage on your own time.
• 13:13
  Speaker 4: Kind of like the skills you get in the military. Yeah, yeah,
• 13:18
  Speaker 4: they can be real helpful.
• 13:19
  Speaker 2: All right, you don't realize it, but they are.
• 13:21
  Speaker 5: All right, Hey, why don't you tell us how we
• 13:23
  Speaker 5: get in touch with you? How we connect with you
• 13:25
  Speaker 5: on the web.
• 13:26
  Speaker 2: Yeah, our website.
• 13:28
  Speaker 1: I work with my wife Beth, and we are at
• 13:31
  Speaker 1: Beth b E t H and Ryan dot Ca Beth
• 13:34
  Speaker 1: and Ryan dot Ca.
• 13:35
  Speaker 4: All right, the link is in the show notes of
• 13:37
  Speaker 4: this interview on Financial Survival Network dot com. While you're there,
• 13:41
  Speaker 4: please sign up for your free newsletter. And if you've
• 13:44
  Speaker 4: got a question for Ryan or myself, you're looking for
• 13:47
  Speaker 4: a little help, you need a little further motivation to
• 13:50
  Speaker 4: do the deed, send me an email kl at Kerrie
• 13:54
  Speaker 4: lets dot com. Ryan, been a pleasure, Thanks so much
• 13:57
  Speaker 4: for stopping by.
• 13:58
  Speaker 3: Thank you, Kerry, Thanks for listen to carry Letz's Financial
• 14:02
  Speaker 3: Survival Network. Your solution to today's trying times. For the latest,
• 14:07
  Speaker 3: go to Financial Survivalnetwork dot com. Financial Survival Network now
• 14:13
  Speaker 3: more than ever