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The 7-Step Real Estate Playbook: How to Sell 50+ Homes in DFW · This Week in DFW Real Estate

• 0:00
  Speaker 1: If you're going to have AI write, you're listening descriptions.
• 0:02
  Speaker 1: I get that's timesaver. Tell it to calm down. Calm
• 0:06
  Speaker 1: down on the adjectives. Calm down on the adjectives. Not
• 0:11
  Speaker 1: everything is opulent. Let's calm down. Tell it to talk
• 0:15
  Speaker 1: like a human being. Tell it to talk like you.
• 0:17
  Speaker 1: That'll help you a little bit. If it talks about
• 0:19
  Speaker 1: its mind spells words wrong. He is saying that two
• 0:22
  Speaker 1: thousand and eight is tougher than to day. I have
• 0:25
  Speaker 1: disagree with that. I respect, I respect his response. I
• 0:28
  Speaker 1: still think I think today's market's a lot tougher than
• 0:31
  Speaker 1: the eight market. Once there's a thing about well one,
• 0:33
  Speaker 1: everybody experiences things differently, so to us name, it's certainly
• 0:36
  Speaker 1: harder for some people than this market, and vice versa.
• 0:40
  Speaker 1: I think we tend to not give credence to how
• 0:44
  Speaker 1: hard things are when we're going through them, and they
• 0:47
  Speaker 1: they seem we realize how hard they were in hindsight,
• 0:50
  Speaker 1: But every day we're just getting up and living every day. Right,
• 0:54
  Speaker 1: So I think that we'll look back on this particular
• 0:56
  Speaker 1: market and go, Wow, how do we get through that?
• 0:59
  Speaker 1: In hindsight will seem harder than it seems in this.
• 1:01
  Speaker 2: Moment and then someone commented on our shorts and they're like, oh,
• 1:04
  Speaker 2: you would go back in time and just spam all
• 1:06
  Speaker 2: your friends and family. Yes, I would, yeah, yes, And
• 1:11
  Speaker 2: if they didn't use me, then I would just troll them, Yes,
• 1:14
  Speaker 2: and shame them.
• 1:17
  Speaker 3: Churn it up. This week and Your Real Estate.
• 1:27
  Speaker 4: A weekly podcast too for agents who actually get paid,
• 1:30
  Speaker 4: Party Moved, Listing, Heat, Cold.
• 1:32
  Speaker 3: The Streets DM. Any Way, lest episode is this nine? Ten?
• 1:43
  Speaker 3: Oh it's not yep? Ten? That we did seven eight?
• 1:48
  Speaker 3: Last time? That was two times ago? Is it yep?
• 1:51
  Speaker 3: All right?
• 1:51
  Speaker 2: Episode ten? Definitely in episode ten in the books? Yeah,
• 1:58
  Speaker 2: next week, dude.
• 2:01
  Speaker 1: This past week it was a lot. This week there
• 2:03
  Speaker 1: was a lot. Some weeks it feels like we're saying
• 2:06
  Speaker 1: the same thing over and over.
• 2:07
  Speaker 3: But this week, you know, I almost made a post today.
• 2:10
  Speaker 3: There's two posts. I almost made.
• 2:12
  Speaker 2: The first one in our DFW Reelers Facebook group about
• 2:16
  Speaker 2: I want to know how many you know, brokerages since
• 2:19
  Speaker 2: you've been licensed, how many brokerages and agent's been at
• 2:22
  Speaker 2: you know that just you know, just kind of there
• 2:24
  Speaker 2: was just something on my mind about is there is
• 2:26
  Speaker 2: there a correlation between successful agents that have like less
• 2:30
  Speaker 2: than three brokerages under their belt.
• 2:32
  Speaker 3: Yeah, like longevity at the same time interesting.
• 2:35
  Speaker 2: And then the other thing was that you know in sales,
• 2:40
  Speaker 2: you know and all sales one O one, it's it's
• 2:42
  Speaker 2: we need to shut up, we need to do less talking,
• 2:44
  Speaker 2: more listening. And this past week we did that Agent
• 2:48
  Speaker 2: to CEO event with Danny B.
• 2:50
  Speaker 3: A lot of fun. Yeah, I can't say his last name.
• 2:52
  Speaker 3: I don't even know how to pronounce it.
• 2:53
  Speaker 2: All Sulkan well, Sulkan, all Sulkan balls, Sulkan balls, said
• 2:58
  Speaker 2: Danny B.
• 3:01
  Speaker 3: And it was great. It hundred a little over one
• 3:03
  Speaker 3: hundred agents.
• 3:04
  Speaker 2: Rsvped of course rain stops agents from going out and
• 3:06
  Speaker 2: had like forty fifty agents or something like that, and
• 3:11
  Speaker 2: there was a group of presenters there and it was
• 3:13
  Speaker 2: I mean it was They all had great information. And
• 3:16
  Speaker 2: you know, this was the first time that you and
• 3:19
  Speaker 2: I got to share and present.
• 3:21
  Speaker 3: And I feel we're pretty good presenters.
• 3:23
  Speaker 1: We've got experience, good sometimes experienced. Sure, yes, we always
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  Speaker 1: say something.
• 3:30
  Speaker 2: Yes, And this was our first time to talk about
• 3:34
  Speaker 2: then share our our thoughts about how we can continue
• 3:38
  Speaker 2: helping empowering the agents. And we did our presentation that
• 3:41
  Speaker 2: was called Beyond the Closing and it was about how
• 3:45
  Speaker 2: to how to really focus on increasing the lifetime value
• 3:48
  Speaker 2: of a client and how to keep that client to
• 3:52
  Speaker 2: provide to continue to provide value to that client well
• 3:55
  Speaker 2: after the closing, so that hopefully they think about you
• 3:58
  Speaker 2: when they hear about someone buying, selling, or investing in
• 4:01
  Speaker 2: real estate and they send that referral or they come
• 4:02
  Speaker 2: back and do repeat business. And you know, it's through
• 4:06
  Speaker 2: this our utility concierge program and essential services that we
• 4:10
  Speaker 2: can help, you know, we can help our agents just
• 4:12
  Speaker 2: continue to provide value and earn income off of it
• 4:15
  Speaker 2: and increase the lifetime value of their their client. And
• 4:19
  Speaker 2: I don't know about you. I haven't been more excited
• 4:21
  Speaker 2: about something in a long time. So I was doing
• 4:24
  Speaker 2: We had seven people get on our wait list. If
• 4:26
  Speaker 2: you want to know what that is, it's get residual
• 4:28
  Speaker 2: agent dot com ford slash weightlist.
• 4:29
  Speaker 3: Go check it out. But I did a call with
• 4:32
  Speaker 3: an agent yesterday.
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  Speaker 2: She had seen one of our posts and was like,
• 4:35
  Speaker 2: tell me more about this is this is kind of
• 4:37
  Speaker 2: in alignment with what I'm talking about with my agent
• 4:39
  Speaker 2: group and everything else like that, And I felt like
• 4:43
  Speaker 2: I was talking one thousand miles an hour. I wouldn't
• 4:46
  Speaker 2: shut up because it's that excitement is where you just
• 4:50
  Speaker 2: and you know that this is the best thing that
• 4:53
  Speaker 2: can that we can help agents with empowerment other than
• 4:56
  Speaker 2: giving them the seven step playbook which we're going to
• 4:58
  Speaker 2: talk about today of you know, getting and converting and
• 5:02
  Speaker 2: attracting more business, but this helps them actually be able
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  Speaker 2: to provide value and increases their money.
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  Speaker 3: Yeah, and it doesn't cost them anything.
• 5:11
  Speaker 1: Well, it speaks to two things, and this is what
• 5:13
  Speaker 1: we spoke about earlier this week when we're talking about,
• 5:16
  Speaker 1: you know, the event being called agent to CEO. And
• 5:19
  Speaker 1: we've both been fortunate in our careers to transition from
• 5:22
  Speaker 1: individual agents to running organizations, which is quite a bit
• 5:26
  Speaker 1: different than being a sales agent. When you're a sales agent,
• 5:29
  Speaker 1: one of the things that you're constantly striving to do
• 5:33
  Speaker 1: is provide more value to your database because that's how
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  Speaker 1: you stay top of mind, that's how you generate referrals.
• 5:40
  Speaker 1: And we have a certain amount of tools that we
• 5:43
  Speaker 1: regularly use to provide value. Part of it is just
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  Speaker 1: lead generating and making the calls every day. That's the
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  Speaker 1: having conversations, getting up and doing the work.
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  Speaker 3: And then it's also.
• 5:51
  Speaker 1: How do I provide more value in regards to your
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  Speaker 1: home ownership experience. So we do things like providing CMA
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  Speaker 1: updates and market reports and all those types of things.
• 6:01
  Speaker 1: Vendor referrals, all that type of stuff, right, And so
• 6:04
  Speaker 1: what we're building appeals to how do I actually provide
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  Speaker 1: more value to my clients, which then in turn gets
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  Speaker 1: their reticular activators up, helps you stay more top of
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  Speaker 1: mind as an agent, which.
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  Speaker 3: In turn generates more referrals.
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  Speaker 1: It keeps the referral machine moving forward and then creates
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  Speaker 1: your own self contained, ever growing big business. And then
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  Speaker 1: on the other side, as a CEO, you're constantly thinking
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  Speaker 1: about how do we capture more revenue per transaction with
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  Speaker 1: the least amount of friction possible?
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  Speaker 3: Right. That's an important part is the least amount of
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  Speaker 3: friction possible?
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  Speaker 2: Right, because what would normally, what would a coach say,
• 6:38
  Speaker 2: or what would any anybody you're asking say?
• 6:41
  Speaker 3: It would be well, just charge more commission, charge more commission,
• 6:43
  Speaker 3: go deep, don't go wide?
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  Speaker 1: Right, Yeah, am commission, charge more commission, charge of marketing fee,
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  Speaker 1: marketing fee, transaction fee, processing fee, whatever.
• 6:51
  Speaker 2: Right, And that sounds great. And by the way, you
• 6:54
  Speaker 2: should be charging a marketing fee or a transaction fee.
• 6:57
  Speaker 2: In my opinion, you should be adding that in there
• 6:59
  Speaker 2: just because the cost to deliver and and service a
• 7:03
  Speaker 2: transaction has gone up. That's a whole different topic for
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  Speaker 2: a show, but that is that's also not necessarily shouldn't
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  Speaker 2: necessarily be patting.
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  Speaker 1: Your bottom line, right and exactly and so, and it's
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  Speaker 1: easy to compete with that. Right If if your only
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  Speaker 1: way of generating more revenue is to charge a higher
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  Speaker 1: fee than everyone else, then there's that's that's going to
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  Speaker 1: hit a ceiling of scale. There's limitations to that over time,
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  Speaker 1: and it's easier to to to it's easier to compete
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  Speaker 1: with that, it's easier to.
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  Speaker 3: Beat that out. Right.
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  Speaker 1: So we think about these things as as at the
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  Speaker 1: leadership level on how do we generate more revenue per transaction?
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  Speaker 3: How do we get more of the pie?
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  Speaker 1: But we have to do it in the most frictionless
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  Speaker 1: way possible, right, You and I, over the course of
• 7:45
  Speaker 1: our careers have explored a lot of different vertical integrations.
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  Speaker 3: Some of them we've actually gone down that road and.
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  Speaker 1: Partnered and built organizations that are adjacent that capture revenue,
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  Speaker 1: which has been awesome, and they've become their own standalone companies,
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  Speaker 1: some of which we've explored. We've gone that is way
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  Speaker 1: too noisy and too much friction, and I don't think
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  Speaker 1: that we can do it.
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  Speaker 3: You know.
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  Speaker 1: Like it comes to mind is when we explored the
• 8:07
  Speaker 1: title partnerships years ago, and actually opening a title company
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  Speaker 1: was the only way back then that you could capture
• 8:12
  Speaker 1: that revenue. And we looked into or like, the cost
• 8:16
  Speaker 1: upfront is incredible. Back then the pro formas you realize
• 8:20
  Speaker 1: what kind of scale you need to have, the margins
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  Speaker 1: are incredibly slim. And we looked at it and were like,
• 8:25
  Speaker 1: that's just the lift to do that. It's high friction,
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  Speaker 1: high friction, low return.
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  Speaker 3: You got to scale it right. So we didn't go
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  Speaker 3: down that path.
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  Speaker 1: But we're always thinking as leaderships or as leaders, how
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  Speaker 1: do we capture more revenue per transaction? And as team leaders,
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  Speaker 1: how do we help our agents capture more revenue per
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  Speaker 1: transaction outside of just charging more than everybody else. And
• 8:46
  Speaker 1: this is an industry wide question that we're all trying
• 8:48
  Speaker 1: to answer right now. And so what we're excited about
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  Speaker 1: bringing to the agent are ways to not only increase
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  Speaker 1: your revenue per transaction in a frictionless way, but then
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  Speaker 1: also generate more more referrals. By owning more of the
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  Speaker 1: home ownership experience that your clients are going through. It
• 9:06
  Speaker 1: helps you stay top of mind throughout the entire journey
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  Speaker 1: as a homeowner and generate more referrals, which get in turn,
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  Speaker 1: it just helps you build a self propelling database.
• 9:16
  Speaker 2: Well, it's another We talked about providing value in that presentation,
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  Speaker 2: and as we ask and surveyed the audience, there we're
• 9:24
  Speaker 2: saying no. We asked one lady, how hard is it?
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  Speaker 2: What would you do to provide value? She's a call
• 9:29
  Speaker 2: and you know, talk to your past client and offer
• 9:32
  Speaker 2: a market analysis. I said, great, that's awesome. What if
• 9:35
  Speaker 2: you just sold that house thirty days ago? Are you
• 9:38
  Speaker 2: calling that client up and saying, hey, how's the moving going?
• 9:42
  Speaker 2: You get everything set up? Do you want me to
• 9:43
  Speaker 2: provide a market value report?
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  Speaker 3: Right? That's not valuable.
• 9:46
  Speaker 1: And here's the thing, even one, it's not valuable thirty
• 9:49
  Speaker 1: days after they bought the home, and even three years
• 9:52
  Speaker 1: after they bought the home. It's great, but is there
• 9:54
  Speaker 1: an are there any other tools in your tool about? Right?
• 9:56
  Speaker 1: We're always looking for how do we provide more value?
• 9:59
  Speaker 1: That's where're talking talking about here. But we've asked that
• 10:01
  Speaker 1: question to agents hundreds of times, and Market Report and
• 10:04
  Speaker 1: CMA are the things that always come up one hundred percent,
• 10:06
  Speaker 1: which I'm not saying, don't stop doing those, keep doing those.
• 10:10
  Speaker 3: Yeah, this is later on. Yeah, this is a layered approach.
• 10:13
  Speaker 2: So we said, hey, how easy it would it be,
• 10:15
  Speaker 2: especially thirty days or sixty or ninety days after they've
• 10:17
  Speaker 2: closed on their new house. They they've that you know,
• 10:20
  Speaker 2: maybe that new home freshness has worn off, and they
• 10:23
  Speaker 2: they're all there there endorphins and and you know, everything
• 10:27
  Speaker 2: is just now settled, and they're just they're seeing maybe
• 10:30
  Speaker 2: where they want to improve the home or what they're
• 10:32
  Speaker 2: looking for. Maybe they need pest control, maybe they need
• 10:35
  Speaker 2: maybe they need a painter, maybe they whatever vendors they need.
• 10:39
  Speaker 2: And if you could offer that to them with and
• 10:42
  Speaker 2: be that conduit where where you could make their stress
• 10:45
  Speaker 2: go away, that you could find them the best person
• 10:47
  Speaker 2: they can you know, the best prices out there. Oh
• 10:50
  Speaker 2: and by the way, you get a little compensation if
• 10:52
  Speaker 2: if they utilize those services, how great would that be?
• 10:56
  Speaker 3: One hundred percent?
• 10:56
  Speaker 1: And as they're moving in right one again frictionless running
• 11:00
  Speaker 1: this at scale, So this is not you taking responsibility
• 11:03
  Speaker 1: for doing these things. This is you having a team
• 11:06
  Speaker 1: that is doing this on your behalf. Jesse is a
• 11:09
  Speaker 1: great example when Jesse Jesse will probably never sell us home,
• 11:12
  Speaker 1: but when he does, he'll go and he's the type
• 11:15
  Speaker 1: of guy that's gonna shop for the best electricity rate
• 11:18
  Speaker 1: like a dog like me.
• 11:21
  Speaker 3: I bought a home last year. I have no idea
• 11:22
  Speaker 3: how much I paid for electricity.
• 11:23
  Speaker 1: To be honest with you, my wife sets that stuff
• 11:26
  Speaker 1: up as do or I'm a brand name guy, so
• 11:29
  Speaker 1: like for Internet, I was like, you know, who's the name?
• 11:32
  Speaker 1: I know, and that's what it cost, and then that's
• 11:34
  Speaker 1: what it is. But if I extrapolate that over the
• 11:37
  Speaker 1: next however many years that I own my house, I
• 11:40
  Speaker 1: could actually pay tens of thousands of dollars more because
• 11:43
  Speaker 1: I didn't go and find better deals for the same service,
• 11:46
  Speaker 1: which in a deregulated market there are usually better deals
• 11:49
  Speaker 1: than we're getting. As an agent, when my clients do
• 11:52
  Speaker 1: a deal with me, if I'm able to say, hey,
• 11:54
  Speaker 1: one of the things my team does is we provide
• 11:57
  Speaker 1: value in terms of helping you find the best play
• 12:00
  Speaker 1: hospital rates on all of the essential services you're going
• 12:02
  Speaker 1: to pay for anyway. That's a service that I provide
• 12:05
  Speaker 1: one you are already. We talked about this on previous episodes.
• 12:08
  Speaker 1: How can agents provide more value during and beyond the transaction?
• 12:11
  Speaker 3: How can we stand apart? Well?
• 12:13
  Speaker 1: Having more of the home ownership experience under your umbrella
• 12:16
  Speaker 1: is one way.
• 12:17
  Speaker 3: Two.
• 12:18
  Speaker 1: If that creates an ancillary revenue for you and your business, fantastic.
• 12:21
  Speaker 1: You've increased the value provide to your clients and the
• 12:24
  Speaker 1: revenue that you generate per transaction. And then what you've
• 12:27
  Speaker 1: also done is given yourself a long term opportunity to
• 12:30
  Speaker 1: provide that ongoing value and set the expectation that's part
• 12:34
  Speaker 1: of your service.
• 12:35
  Speaker 3: Every year, there's.
• 12:36
  Speaker 1: Going to be a good deal that you can go
• 12:38
  Speaker 1: reshop for your clients and say, hey, so and so's
• 12:40
  Speaker 1: you know buying market share right now, whether it's insurance, electricity, internet, whatever.
• 12:46
  Speaker 1: We just shopped your rates for you. You can save
• 12:48
  Speaker 1: however much a month. Why don't we get you switched over?
• 12:51
  Speaker 1: By the way, my goal is to serve fifty clients
• 12:54
  Speaker 1: this year who do you know that you can hook
• 12:55
  Speaker 1: me up with them might be thinking about buying or
• 12:57
  Speaker 1: selling a home.
• 12:58
  Speaker 3: Also, do the market report that other type of stuff.
• 13:01
  Speaker 1: But your team should be doing this and you should
• 13:04
  Speaker 1: be providing that that value as an agent. So anyway,
• 13:06
  Speaker 1: that's what we're speaking on, and I'm just so excited
• 13:08
  Speaker 1: to help empower agents with with with with with with
• 13:11
  Speaker 1: what we're building well.
• 13:12
  Speaker 2: And at the same time, if you don't jump on
• 13:16
  Speaker 2: the train and take advantage of it, your brokerage is
• 13:19
  Speaker 2: already doing it, lender is already doing it, Insurance companies
• 13:22
  Speaker 2: are already doing it, and they're doing that so that
• 13:24
  Speaker 2: they can capture that side to provide the value and
• 13:27
  Speaker 2: the data and the remarketing to it.
• 13:30
  Speaker 3: So one thing, you know, all I had to ask.
• 13:32
  Speaker 2: If you're you're kind of intrigued and you want to
• 13:33
  Speaker 2: hear more, doesn't cost anything. It helps brand you, right,
• 13:37
  Speaker 2: So it's going to keep it in your brand the
• 13:40
  Speaker 2: whole objective as well as to continue implementing and adding
• 13:44
  Speaker 2: to your thirty six touch campaign, maybe a fifty two
• 13:47
  Speaker 2: touch campaign, so that on you know, every time that
• 13:50
  Speaker 2: your client, your customer, you know, gets an email about
• 13:53
  Speaker 2: saving or shopping, it's on behalf of you as the agent.
• 13:56
  Speaker 2: So if you're interested in hearing more about it, it's free,
• 13:58
  Speaker 2: So go ahead and get on the wait list. Get
• 14:00
  Speaker 2: residual agent dot com con for slash com. Yeah, get
• 14:05
  Speaker 2: residual agent dot com Ford slash wait list and uh
• 14:08
  Speaker 2: and take advantage of that because again, like I said,
• 14:11
  Speaker 2: your brokerage, your insurance, your insurance agencies, and your lenders
• 14:14
  Speaker 2: are already doing so, so don't miss out on it.
• 14:16
  Speaker 1: And it adds to your bottom line one hundred percent.
• 14:19
  Speaker 1: We got a couple of segments today. Let's uh, let's
• 14:21
  Speaker 1: start diving in. We're going to be all over the
• 14:23
  Speaker 1: place a little bit. But there was a but in
• 14:26
  Speaker 1: a good way, in a good way. There's a there's
• 14:28
  Speaker 1: an interesting story going on with this trek investigation, and
• 14:31
  Speaker 1: we want to be politically correct, but I think it's
• 14:34
  Speaker 1: an interesting thing to touch on.
• 14:36
  Speaker 2: Well, there's a watchdog group out there, right, and there's
• 14:39
  Speaker 2: a watchdog group, Brian that that I sent you this
• 14:41
  Speaker 2: article last week and I said, hey, let's do this,
• 14:43
  Speaker 2: and we we did. Last week's show was a freaking
• 14:45
  Speaker 2: phenomenon and awesome. So go, let you know, make sure
• 14:47
  Speaker 2: to watch that. Subscribe to our YouTube channel, join their
• 14:50
  Speaker 2: Facebook group. DFW Reealtors eventually df W Reeler Network Network
• 14:54
  Speaker 2: dot com. Well, we'll put you into that group, so
• 14:57
  Speaker 2: go join that. But it was that Trek investigation was
• 15:02
  Speaker 2: basically or this hopefully this investigation is this watchdog group
• 15:06
  Speaker 2: wants to turn it into.
• 15:08
  Speaker 1: Is that.
• 15:10
  Speaker 2: In order to become a licensed real estate agent through Trek,
• 15:14
  Speaker 2: you have to be a citizen or or legally here
• 15:19
  Speaker 2: in the United States, a lawful resident, lawful resident resident,
• 15:22
  Speaker 2: right from what I understand is and so what this
• 15:25
  Speaker 2: watchdog group is saying is that Trek is having Trek
• 15:31
  Speaker 2: doesn't have any verification processes. You do your fingerprints, but
• 15:35
  Speaker 2: there's no verification process other than self reporting by the individual.
• 15:40
  Speaker 2: And so you know, this watchdog group to went to
• 15:44
  Speaker 2: Trek and asked for them to provide data on how
• 15:48
  Speaker 2: many license holders are non citizens or lacks social Security numbers,
• 15:54
  Speaker 2: and Trek stated there was no records available.
• 15:56
  Speaker 3: Yeah. Interesting, So ESSE just highlighted this.
• 16:00
  Speaker 1: So even Trek's fingerprinting vendor allows using out of state
• 16:03
  Speaker 1: driver's licenses or foreign passports, so the background check doesn't
• 16:07
  Speaker 1: independently verify you know, those types of status. Is I
• 16:12
  Speaker 1: don't think anybody in this room has like massively hard
• 16:15
  Speaker 1: opinions on this topic. I just think it's an interesting
• 16:17
  Speaker 1: conversation because I think if we were to think about
• 16:20
  Speaker 1: if we were to if I was to move out
• 16:23
  Speaker 1: of the United States and go sell real estate somewhere else,
• 16:26
  Speaker 1: I mean, I'm handling transactions that are the largest transactions
• 16:29
  Speaker 1: most people will ever do in their life. They're worth
• 16:32
  Speaker 1: hundreds of thousands, if not millions of dollars. Should should
• 16:37
  Speaker 1: the governing bodies do more to enforce what it claims
• 16:42
  Speaker 1: are the standards as far as status and residency.
• 16:44
  Speaker 3: And things like that. I don't have an opinion on it.
• 16:46
  Speaker 1: I just think it is an interesting It's interesting that
• 16:50
  Speaker 1: TREK didn't have any real process to verify the things
• 16:53
  Speaker 1: that it says it requires.
• 16:55
  Speaker 3: I think that's interesting.
• 16:57
  Speaker 2: Well, that and it's these other these you know, the state,
• 17:01
  Speaker 2: the state of Texas has other licensing divisions. What is
• 17:06
  Speaker 2: that the TDLR What does that stand for? Jesse Texas
• 17:10
  Speaker 2: Department of Licensing and Regulation, Registration or regulation or something
• 17:16
  Speaker 2: like that. So the TDLR the agency that oversees the
• 17:19
  Speaker 2: licenses of electricians, barbers, cosmetologists, and dog breeders.
• 17:24
  Speaker 5: They are, among others. There's a laundry list, yeah, a
• 17:27
  Speaker 5: lot more.
• 17:29
  Speaker 2: They have proved a new rule requiring proof of lawful
• 17:34
  Speaker 2: presence for all professional license that doesn't goes into effect
• 17:38
  Speaker 2: May first of twenty twenty six. Now Track is not
• 17:40
  Speaker 2: under that TDLR division. And so the the kind of
• 17:45
  Speaker 2: kind of concern that the Watchhot group pointed out here
• 17:48
  Speaker 2: was that why does a dog grooming license in Texas
• 17:51
  Speaker 2: now have stricter immigration verification than a real estate license
• 17:54
  Speaker 2: that lets someone handle four hundred thousand or more, you know,
• 17:58
  Speaker 2: really expensive transactions.
• 17:59
  Speaker 3: It's a new interesting question.
• 18:00
  Speaker 1: Yeah, yeah, Like again, I don't have hard opinions on it,
• 18:03
  Speaker 1: but I just I think it's interesting to sometimes observe
• 18:07
  Speaker 1: and investigate the inconsistencies with which we enforce regulation across
• 18:12
  Speaker 1: different industries. We've got we do have a lot of
• 18:16
  Speaker 1: real estate agents in America, I'll tell you that. Yes,
• 18:18
  Speaker 1: So it's just I don't know how set we are.
• 18:21
  Speaker 3: On grooms, but we got a lot of agents. Yeah.
• 18:23
  Speaker 3: I don't have a set stance on this.
• 18:24
  Speaker 2: I just found it interesting that, you know, I remember
• 18:27
  Speaker 2: having to do the fingerprints, you know, having to show idea.
• 18:30
  Speaker 2: I just you know, it felt like a very thorough
• 18:34
  Speaker 2: process and background check.
• 18:36
  Speaker 1: Well, I think what it is is is, you know,
• 18:40
  Speaker 1: in my eyes, this doesn't really have anything to do
• 18:42
  Speaker 1: necessarily with our opinions on immigration status or anything like that.
• 18:46
  Speaker 1: What I do think it does is it showcases a
• 18:50
  Speaker 1: lack of accountability to what they Trek says its own
• 18:54
  Speaker 1: standards are, if that makes sense right. Trek does say
• 18:58
  Speaker 1: that its standard is lawful residency of some sort. But
• 19:02
  Speaker 1: when the Watchdog group investigated and even Pride, basically they
• 19:06
  Speaker 1: said there's no record keeping and they don't know how
• 19:10
  Speaker 1: they enforce their own standards. So then the question becomes,
• 19:13
  Speaker 1: what other things this Truck's supposed to do for its
• 19:16
  Speaker 1: agent body that it doesn't really have.
• 19:18
  Speaker 3: Accountability, you know, in regards to its own standards.
• 19:20
  Speaker 1: I think that's from my perspective, that's the important thing
• 19:24
  Speaker 1: to consider in this conversation is who holds Truck accountable
• 19:29
  Speaker 1: to Trek's enforcement of their own policies.
• 19:33
  Speaker 2: I mean, look, they're already dropping the ball because look
• 19:35
  Speaker 2: at the REALM rollout the new portal, which was that
• 19:41
  Speaker 2: has to be one of the worst rollouts I've ever seen.
• 19:43
  Speaker 3: Wasn't good. There's like months that some agents couldn't use
• 19:47
  Speaker 3: the system.
• 19:47
  Speaker 2: And it's still a problem today. I've been trying to
• 19:50
  Speaker 2: renew my broker entity license and it won't let me
• 19:52
  Speaker 2: renew it.
• 19:53
  Speaker 3: Yeah, I mean.
• 19:53
  Speaker 1: People have been stuck in that black hole for and
• 19:55
  Speaker 1: that affects people's careers, you know that. So again it
• 19:58
  Speaker 1: kind of beens the question who holds truck a countable
• 20:00
  Speaker 1: to the things they're supposed to be, you know, providing.
• 20:02
  Speaker 5: Well, and you look at like the DFW relator Facebook
• 20:05
  Speaker 5: page and you look at how many comments? How many
• 20:07
  Speaker 5: times has somebody asked the question, Hey, I'm stuck in registration?
• 20:12
  Speaker 3: What do I do?
• 20:13
  Speaker 5: Yeah, I mean it's what probably two or three a
• 20:15
  Speaker 5: week that we get it's at least and that's just
• 20:17
  Speaker 5: our group.
• 20:18
  Speaker 2: Yeah, and I believe that Trek has has very It
• 20:21
  Speaker 2: runs on a skeleton crew because if I remember correctly,
• 20:24
  Speaker 2: like years ago, they let go of a lot of
• 20:27
  Speaker 2: their the people in that department, and so they're just running.
• 20:30
  Speaker 3: They're just running.
• 20:31
  Speaker 2: Yeah, I think like three or four people in there,
• 20:33
  Speaker 2: and there's not a lot because I can tell you
• 20:35
  Speaker 2: right now, I email all the time.
• 20:36
  Speaker 3: I never get a response back.
• 20:37
  Speaker 2: Yeah, and I'm trying to pay money and that will
• 20:39
  Speaker 2: go to the state, right. Yeah, It's it's insane. So
• 20:44
  Speaker 2: you know, that's the biggest thing, is like just the
• 20:46
  Speaker 2: the round portal rollout caused this widespread delay, and some
• 20:50
  Speaker 2: agents weren't able just to work for months. These were
• 20:52
  Speaker 2: new agents, you know, people trying to renew their licenses,
• 20:55
  Speaker 2: and they like, I just don't know how you could
• 20:57
  Speaker 2: drop the ball on that. And then you know, like
• 20:59
  Speaker 2: the watchdog group said, now you can't even provide you
• 21:02
  Speaker 2: don't even have the right software that can produce documentation
• 21:05
  Speaker 2: showing how it verifies basic eligibility requirements like any any status.
• 21:10
  Speaker 3: That's all it is, and that's what we're talking about. Again.
• 21:12
  Speaker 1: This doesn't have anything to do with our personal opinions
• 21:14
  Speaker 1: on immigration status or anything like that. It's just it's
• 21:16
  Speaker 1: it's if you have a if you have a regulation
• 21:20
  Speaker 1: that you are you are committed to enforcing, but you
• 21:23
  Speaker 1: don't have any accountability for showing whether or not you
• 21:25
  Speaker 1: actually do it, then that that remains true for every
• 21:29
  Speaker 1: other policy and regulation that TREK is supposed to enforce,
• 21:32
  Speaker 1: is my opinion, and so I think that these watchdog
• 21:35
  Speaker 1: groups do provide an important service in making sure that
• 21:38
  Speaker 1: they have eyes and are observing. Does TREK actually do
• 21:42
  Speaker 1: what it says it does? And is it accountable for
• 21:44
  Speaker 1: enforcing its standards?
• 21:45
  Speaker 2: Jesse's on the Texas Department of License and Regulation.
• 21:49
  Speaker 3: Let's talk about the things though.
• 21:50
  Speaker 2: Yeah, if you go down combative sports as a regulation
• 21:55
  Speaker 2: has a licensing, what's that? I like the auctioneers, auctioneers,
• 21:59
  Speaker 2: I just I love the barber. You would think the
• 22:00
  Speaker 2: auctioneer kind of under the I imagine the combative sports
• 22:03
  Speaker 2: is like Texas box boxing license probably so. Yeah, electric
• 22:08
  Speaker 2: vehicle charging station so again, like they.
• 22:10
  Speaker 3: Baser hair removal, Well, you are using.
• 22:13
  Speaker 2: Lasers license breeders, right, So like if you if you
• 22:18
  Speaker 2: look at all this, there's a lot more requirements here
• 22:21
  Speaker 2: on on under the uh you know that the what
• 22:24
  Speaker 2: is it t L d R than there is on track,
• 22:27
  Speaker 2: So that and that you should think they in my opinion,
• 22:30
  Speaker 2: why are they all not the same?
• 22:32
  Speaker 3: Yeah? We shouldn't everything just be under here, right, shouldn't.
• 22:35
  Speaker 3: Isn't it all this very similar regulations?
• 22:37
  Speaker 1: Weather modification, that's cool. So if you're doing cloud seeding, yeah, yeah,
• 22:44
  Speaker 1: that's allegedly. Yeah, trails you don't want to have.
• 22:48
  Speaker 2: You don't want to have a stance on immigration, but
• 22:50
  Speaker 2: you're gonna bring up weather seating and camp trails.
• 22:51
  Speaker 3: Okay, those are not the same thing. You guys know
• 22:54
  Speaker 3: that cloud seating is a real thing. That's not.
• 23:00
  Speaker 5: I don't know if that's said that this is that
• 23:01
  Speaker 5: kind of show.
• 23:02
  Speaker 3: No, it's not.
• 23:03
  Speaker 2: No, that's that's that's the other one that Jesse does.
• 23:06
  Speaker 2: Make sure to go to his Facebook page. So let's
• 23:09
  Speaker 2: let's so, you know, the the seven Steps, Brian like,
• 23:13
  Speaker 2: I mean, there's we can't beat a dead horse on
• 23:15
  Speaker 2: on this.
• 23:15
  Speaker 3: Let's see what the Watchhog group does.
• 23:17
  Speaker 2: And and first off, I don't really honestly my personal opinions,
• 23:20
  Speaker 2: I don't really care. Just fix the round portal. Yeah,
• 23:23
  Speaker 2: let me renew my license. It may it be so
• 23:25
  Speaker 2: much easier and take my money. Look the the seven
• 23:29
  Speaker 2: step playbook for really building your best year. And then
• 23:33
  Speaker 2: you know, on last week's show, we talked about this
• 23:36
  Speaker 2: tough you know, the tough market, and you said tough
• 23:38
  Speaker 2: market for whom? Right, Jason north Got commented in the
• 23:41
  Speaker 2: Facebook group on that She's like, I love Brian's you know,
• 23:43
  Speaker 2: his his response back is tough market, you know, tough
• 23:46
  Speaker 2: for whom. And what I would say is that what
• 23:50
  Speaker 2: we're seeing is that you know, agents just they just
• 23:55
  Speaker 2: they need guidance, They need better guidance, They need better
• 23:59
  Speaker 2: proof in playbooks that they can go and implement day
• 24:04
  Speaker 2: one and start to feel like they're, you know, gaining momentum.
• 24:09
  Speaker 1: So if we just want to get really actionable about
• 24:11
  Speaker 1: seven things that you can do in this market right
• 24:14
  Speaker 1: now to start to either generate more business, capture business
• 24:18
  Speaker 1: is already in your world at the end of the day,
• 24:20
  Speaker 1: sell more houses. The first one ask you a question
• 24:24
  Speaker 1: what keeps buyers in a state of inaction?
• 24:27
  Speaker 3: Why?
• 24:28
  Speaker 1: Why Why do buyers say not right now now, it's
• 24:31
  Speaker 1: not the right time. We're going to wait till next year,
• 24:33
  Speaker 1: or we're going to wait till whenever. What is it
• 24:34
  Speaker 1: that keeps buyers from taking action?
• 24:36
  Speaker 5: I think part of it is they constantly hear that
• 24:38
  Speaker 5: the market's going to collapse. I mean, how many times
• 24:40
  Speaker 5: do we hear the Marcus collapsing?
• 24:42
  Speaker 1: Right?
• 24:42
  Speaker 3: It's collapsing, right, It's part of it.
• 24:44
  Speaker 1: So it would say misinformation or lack of information, lack
• 24:49
  Speaker 1: of certainty, lack of clarity. At the end of the day,
• 24:51
  Speaker 1: it's insecurity around making a big purchase.
• 24:54
  Speaker 2: Well, so they have that the crash you are also,
• 24:56
  Speaker 2: I mean there was a I saw a news article
• 24:58
  Speaker 2: today that Plano home value prices dropped by five percent,
• 25:02
  Speaker 2: and you know, logically, you know when when we start
• 25:05
  Speaker 2: thinking about it, you know, buying a home or selling
• 25:08
  Speaker 2: a home is emotional, right, but we try to we
• 25:11
  Speaker 2: try to justify as things through through logic as well,
• 25:14
  Speaker 2: and they're like, why would I buy something that's losing value?
• 25:17
  Speaker 2: And so you've got again, you've got waiting for the
• 25:21
  Speaker 2: crash or the crash is happening. You've got the media
• 25:24
  Speaker 2: saying and reporting, hey, values have dropped, and so you know,
• 25:27
  Speaker 2: we're not here to buy something that loses value because
• 25:30
  Speaker 2: we've taught that real estate is an appreciating asset, so
• 25:33
  Speaker 2: it's going to go forever. The the cost the cost
• 25:38
  Speaker 2: of buy a.
• 25:38
  Speaker 3: Home is too high.
• 25:39
  Speaker 1: Yeah, okay, so so the cost of buy a home
• 25:42
  Speaker 1: is too high.
• 25:43
  Speaker 3: We don't know what it normally.
• 25:45
  Speaker 1: If I'm a buyer prospect, I don't usually I can't
• 25:48
  Speaker 1: usually tell you too high in relation to what right,
• 25:51
  Speaker 1: I don't have a lot of context. I'm insecure about
• 25:54
  Speaker 1: buying a home because maybe prices have gone down and
• 25:57
  Speaker 1: there's a lot of information out there that might not
• 26:00
  Speaker 1: be totally accurate. That just makes me feel like I'm
• 26:03
  Speaker 1: not sure if this is the right time. So I
• 26:05
  Speaker 1: just stay in a place of inaction, right, whereas we
• 26:09
  Speaker 1: know being in this industry for a long time and
• 26:10
  Speaker 1: being professional investors and going through several market cycles. If
• 26:15
  Speaker 1: you tell me that prices have dropped twelve percent twelve
• 26:18
  Speaker 1: and a half percent over the last couple of years,
• 26:19
  Speaker 1: like I'm trying to figure out what I can buy, right,
• 26:23
  Speaker 1: I know that it's a better time to buy, So
• 26:25
  Speaker 1: there's an information gap.
• 26:26
  Speaker 2: We let me ask you this, Brian, You bought a
• 26:29
  Speaker 2: house last year, right, that was yours and ladies first
• 26:33
  Speaker 2: time to be You were a first time home.
• 26:34
  Speaker 3: Buyer as far as my homestead.
• 26:36
  Speaker 2: Yes, yes, yes, so, and that's a whole different And
• 26:40
  Speaker 2: that's actually I'm glad you clarified that because you bought
• 26:43
  Speaker 2: investment in real estate, yes, which is not emotional. You
• 26:47
  Speaker 2: lived in an apartment, You're like, and why would I
• 26:49
  Speaker 2: buy my own house for a while, Like, I don't
• 26:50
  Speaker 2: want to take care of something you're seting.
• 26:51
  Speaker 3: Yeah, we kids didn't have kids setting down roots, and
• 26:55
  Speaker 3: so you.
• 26:55
  Speaker 2: Decided to buy last year when if we look at
• 26:58
  Speaker 2: the market, every indicator would saying that now is not
• 27:03
  Speaker 2: a good time to buy.
• 27:04
  Speaker 1: The home that I bought was listed for over one
• 27:06
  Speaker 1: hundred thousand dollars more two years ago than we ended
• 27:10
  Speaker 1: up purchasing it for. Right, But why I was psyched
• 27:14
  Speaker 1: about that. Most buyers would be like, oh, you know, it's.
• 27:17
  Speaker 2: A bad time, correct, right, But at the same time,
• 27:20
  Speaker 2: what made you decide to buy home last year?
• 27:24
  Speaker 1: So it was the right time of my life, which
• 27:26
  Speaker 1: is why people buy homes in the first place. People
• 27:29
  Speaker 1: usually don't make decisions. People don't want to make a
• 27:32
  Speaker 1: decision based solely on finances. They want to make a
• 27:35
  Speaker 1: decision based on life stage. For us, we had a child. Now,
• 27:39
  Speaker 1: I had lived in apartments my entire life because I'm
• 27:41
  Speaker 1: a minimalist. I like small spaces, and I didn't have
• 27:43
  Speaker 1: any kids, and so now it's time to get the homestead,
• 27:48
  Speaker 1: go from just being an investor to buying my own home.
• 27:51
  Speaker 1: And so we made that decision. Now for me, it
• 27:54
  Speaker 1: was much easier because I didn't come with the baggage
• 27:58
  Speaker 1: of the same insecurity that most or home first time
• 28:01
  Speaker 1: home buyers, but home buyers in general come with. In
• 28:04
  Speaker 1: the sense that home prices were declining throughout the last
• 28:07
  Speaker 1: few years. For lots of home buyers that would seem
• 28:11
  Speaker 1: scary because it feels like it's going to keep going down.
• 28:15
  Speaker 1: For me, I was very excited that price has had
• 28:17
  Speaker 1: declined because that means I'm going to get at equity
• 28:20
  Speaker 1: on the other side when price is rebound in the future.
• 28:22
  Speaker 2: Let me ask you this, how long have you and
• 28:24
  Speaker 2: lady been married? I should know this, I'm kidding nine years,
• 28:28
  Speaker 2: nine years. And there's there's a cost of waiting, right
• 28:34
  Speaker 2: If you and lady were to were to have bought
• 28:37
  Speaker 2: a home that first year of your marriage, nine years ago,
• 28:40
  Speaker 2: how much more equity would you have today if you
• 28:44
  Speaker 2: still own that home nine years ago.
• 28:46
  Speaker 3: A lot, a lot.
• 28:48
  Speaker 2: So we look at this and while you have some
• 28:51
  Speaker 2: great reasons why you didn't want to buy, you're a minimalist, right,
• 28:55
  Speaker 2: There's there's also something I think where you know, we
• 28:58
  Speaker 2: we don't want to make the wrong decision of settling
• 29:01
  Speaker 2: down on sure.
• 29:02
  Speaker 1: Well, and in our case a little different because we
• 29:04
  Speaker 1: did buy a lot of real estate.
• 29:05
  Speaker 2: You boughtled yes, yes, But but for most buyers, even
• 29:08
  Speaker 2: if you didn't, most buyers have very similar reasons for
• 29:12
  Speaker 2: what you just you just you know, you you just
• 29:15
  Speaker 2: gave and you know there's a lot of buyers that
• 29:17
  Speaker 2: wanted to stay renting because they don't want the maintenance
• 29:20
  Speaker 2: hassle or the upkeep. But then we go look at
• 29:23
  Speaker 2: the other side of it. Nine years ago, prices were
• 29:26
  Speaker 2: a lot lower, and you would you would have had
• 29:28
  Speaker 2: a lot more equity. You could have refinanced and done
• 29:31
  Speaker 2: a cash out and bought more real estate. So if
• 29:33
  Speaker 2: we look at it the understanding of how to reframe it,
• 29:37
  Speaker 2: yes and ask those questions, because like you know, this
• 29:41
  Speaker 2: is mastering the art of unfreezing buyers. And I think
• 29:45
  Speaker 2: that what ends up happening a lot of times is,
• 29:48
  Speaker 2: you know, we hear someone they're like they're thinking about buying.
• 29:51
  Speaker 2: You're like, you should definitely buy, Brian, Yeah, it's a
• 29:53
  Speaker 2: great time to buy. It's a great time to buy.
• 29:55
  Speaker 2: And like we come off with like, why you're not
• 29:58
  Speaker 2: even asking a question, You're just telling me a great
• 30:00
  Speaker 2: time to buy. It's great, right, And what we always
• 30:03
  Speaker 2: tell people, just like you said, that the best time
• 30:06
  Speaker 2: to buy will be the right time when it's time
• 30:08
  Speaker 2: for your right. It's always a great real estate market,
• 30:10
  Speaker 2: depending on the situation it in. It's it's always a
• 30:14
  Speaker 2: bad market depending on the situation you're in. Sure there's
• 30:17
  Speaker 2: time that people during COVID where their income didn't go
• 30:20
  Speaker 2: up and they were really impacted and affected.
• 30:23
  Speaker 3: It was not a great time for them, right, Yeah,
• 30:25
  Speaker 3: for uthers it was.
• 30:26
  Speaker 2: There was an amazing time when it came to appreciation
• 30:28
  Speaker 2: everything else like that. So when we look at it,
• 30:30
  Speaker 2: we got to understand the master of unfreezing buyers and
• 30:34
  Speaker 2: using you know, and understanding buyer psychology counseling.
• 30:38
  Speaker 1: Yeah, one hundred percent. So this again, this becomes the
• 30:41
  Speaker 1: being the economic advisor of choice for your real estate prospects.
• 30:44
  Speaker 1: So understand that you have buyers that are potential buyer
• 30:48
  Speaker 1: prospects that are on the fence right now. They're they're
• 30:50
  Speaker 1: they're the we're going to wait and see crowd, which
• 30:52
  Speaker 1: there is a lot of amount there. You can be
• 30:54
  Speaker 1: using tools in your business right now to be having
• 30:57
  Speaker 1: better conversations. If you're not speaking with AI every single
• 31:01
  Speaker 1: day and saying, hey, I need you to help me
• 31:03
  Speaker 1: develop a one pager and the one pager is going
• 31:05
  Speaker 1: to show the cost of waiting for another five years
• 31:09
  Speaker 1: or buying a home now. And I don't want it
• 31:11
  Speaker 1: to just be simple. I want you to have a
• 31:12
  Speaker 1: conversation with me. I want you to think about forecasts
• 31:15
  Speaker 1: for the real estate market from several different sources. I
• 31:18
  Speaker 1: want you to break down cost of waiting from a
• 31:21
  Speaker 1: payment and equity standpoint, all that type of stuff, and
• 31:23
  Speaker 1: I want you to ask me questions to help me
• 31:26
  Speaker 1: understand what it is that I'm presenting. You could come
• 31:29
  Speaker 1: up with some real tangible assets that will do two things. One,
• 31:33
  Speaker 1: they will help you become educated on how to have
• 31:35
  Speaker 1: these better conversations with your buyers. And then two, they
• 31:39
  Speaker 1: become tangible pieces of value that you can send your
• 31:41
  Speaker 1: buyer prospects and say, hey, this is why it is.
• 31:45
  Speaker 1: You know, the time to buy is whenever it makes
• 31:48
  Speaker 1: sense for you. The time not to buy is whenever
• 31:51
  Speaker 1: it doesn't make sense for you. But here's the cost
• 31:53
  Speaker 1: of staying put for another five years. Here's what your
• 31:56
  Speaker 1: equity difference will look like. You know, forecasts and things
• 31:59
  Speaker 1: like that. You'd be amazed at how people will take
• 32:02
  Speaker 1: action when they have more knowledge.
• 32:04
  Speaker 2: So nowadays, by the way, the lender that the Good
• 32:08
  Speaker 2: Home Team works with does this, He trains, they train
• 32:11
  Speaker 2: our agents on this. They actually have a built in
• 32:13
  Speaker 2: calculator on their website that you can go mess around
• 32:15
  Speaker 2: with and then you can print the PDF.
• 32:17
  Speaker 3: One pager.
• 32:18
  Speaker 2: Now, if your lender doesn't do that, reach out to us.
• 32:20
  Speaker 2: We'd be happy to set you up with that and
• 32:22
  Speaker 2: have a conversation. But you also have claude. You also
• 32:25
  Speaker 2: have you have chat GPT that you can go and say, hey,
• 32:28
  Speaker 2: I want to build out a calculator and I want
• 32:30
  Speaker 2: it to be the cost of waiting.
• 32:32
  Speaker 3: And then you set your parameters.
• 32:34
  Speaker 2: On it, and you need to find what the what
• 32:36
  Speaker 2: historically the average annual appreciation rate is and just use that.
• 32:40
  Speaker 2: You can use three percent, three and a half percent,
• 32:42
  Speaker 2: four percent and build that in. In fact, you probably build
• 32:45
  Speaker 2: all three of those in there, three three and a half.
• 32:46
  Speaker 3: From the yeah, I haven't build different scenarios.
• 32:48
  Speaker 2: And then you take you take today's interest rate and
• 32:51
  Speaker 2: look at the cost of waiting.
• 32:52
  Speaker 3: Are they waiting for a lower interest rate?
• 32:54
  Speaker 2: So it could be today's rate of six point three
• 32:56
  Speaker 2: seven five versus if it went down to five seven,
• 32:59
  Speaker 2: five and five. You know what is that? What is
• 33:02
  Speaker 2: that cost difference for you? And where is your payment
• 33:04
  Speaker 2: structure going to be at? So that's just something Most
• 33:07
  Speaker 2: people are visual. You can tell them, you could tell
• 33:09
  Speaker 2: them all the best information, but if you don't have
• 33:12
  Speaker 2: it visually. Back backed with all that, then it a
• 33:15
  Speaker 2: lot of times it just falls on deaf ears. Maybe
• 33:18
  Speaker 2: you're over talking their head and they're like, yeah, I
• 33:20
  Speaker 2: get it, I get and in their head they're like,
• 33:21
  Speaker 2: I actually don't understand any of this crap, you know,
• 33:24
  Speaker 2: but they don't want to tell you that because most
• 33:26
  Speaker 2: people don't like to look like they don't know.
• 33:28
  Speaker 3: True.
• 33:29
  Speaker 1: Seriously, if you're if your conversation was, hey, you know,
• 33:32
  Speaker 1: I understand. It feels like it's a it's a scary
• 33:34
  Speaker 1: time out there. Let's jump on a fifteen minute zoom call.
• 33:37
  Speaker 1: One of the things that I do for all my
• 33:38
  Speaker 1: clients is I walk them through using a proprietary tool
• 33:41
  Speaker 1: that I've built, and then my team is built.
• 33:43
  Speaker 3: Team is built. This shows you future.
• 33:46
  Speaker 1: Casts what home ownership verse staying put looks like through
• 33:49
  Speaker 1: different scenarios.
• 33:50
  Speaker 3: I'd love to walk you through it.
• 33:51
  Speaker 1: I think it'll give you a lot of clarity on
• 33:52
  Speaker 1: whether right now is the time to buy. And if
• 33:54
  Speaker 1: that doesn't convert the client, guess what, you still provide
• 33:56
  Speaker 1: them a lot of value.
• 33:58
  Speaker 3: They're going to be a referral source for you. They're
• 33:59
  Speaker 3: gonna be a few your client for you.
• 34:00
  Speaker 1: Again, this all comes back to how to provide more
• 34:03
  Speaker 1: value to the people in our world.
• 34:05
  Speaker 3: Love it, love it, and then we talk You hear
• 34:08
  Speaker 3: this a lot.
• 34:08
  Speaker 2: But owning your database, right, we talk about this all
• 34:12
  Speaker 2: the time back then when you first started.
• 34:15
  Speaker 3: Were you really focused on your database? I wasn't focused
• 34:17
  Speaker 3: on it at all. It's one of the things that
• 34:19
  Speaker 3: I would change if I could go back in time likewise.
• 34:21
  Speaker 2: And then someone commented on our shorts and they're like, oh,
• 34:24
  Speaker 2: you would go back in time and just spam all
• 34:26
  Speaker 2: your friends and family. Yes, I would, yeah, yes, And
• 34:31
  Speaker 2: if they didn't use me, then I would just troll them, yes,
• 34:33
  Speaker 2: and shame them, Yeah, and then unfriend them. They would
• 34:36
  Speaker 2: move out of that member with tim O Will had
• 34:38
  Speaker 2: the was it your favorite.
• 34:39
  Speaker 3: Five favorite five plan? Yeah, it'd be like you're moving
• 34:41
  Speaker 3: out of my favorite five plan. Yeah.
• 34:44
  Speaker 2: But owning your database like it's your only assets. And
• 34:49
  Speaker 2: to let's visualize this, this is like you let's say
• 34:52
  Speaker 2: you've got an acre, right, and that acre is nicely groomed,
• 34:59
  Speaker 2: and you've got animals on there that you don't want
• 35:01
  Speaker 2: to get out.
• 35:02
  Speaker 3: What do you put up and if they can jump
• 35:06
  Speaker 3: over the fence, what do you put up?
• 35:08
  Speaker 1: A higher fence, a high fence, and it's electric who
• 35:11
  Speaker 1: has shocks.
• 35:11
  Speaker 3: Them and keeps them better.
• 35:13
  Speaker 2: Right, But owning your database and is probably the is
• 35:18
  Speaker 2: probably more important than it ever has been.
• 35:20
  Speaker 1: Well, i mean we even you know, we kind of
• 35:21
  Speaker 1: put this here on our show preview like like it's
• 35:23
  Speaker 1: your only asset. Well, it really is your only asset
• 35:26
  Speaker 1: in a real estate business. I mean, there's some other
• 35:28
  Speaker 1: things that you could say are your assets, but the
• 35:30
  Speaker 1: reality is the relationships that you build with your database
• 35:32
  Speaker 1: is really your only asset in a real estate business.
• 35:35
  Speaker 3: Well that's so.
• 35:36
  Speaker 2: So, you know Gary Keller and the Millionaire real Estate
• 35:39
  Speaker 2: Agent book, the Red Book talks about your thirty six
• 35:41
  Speaker 2: Touch campaign and that was the first time ever really
• 35:43
  Speaker 2: heard about that. I'm sure that that was taking some
• 35:45
  Speaker 2: I'm sure that was built in and involved from some
• 35:48
  Speaker 2: marketing dukes and everything else like that.
• 35:50
  Speaker 3: But what is thirty six touch? What does that mean?
• 35:53
  Speaker 3: Like it's even.
• 35:54
  Speaker 2: Evolved from from you know, the MRIA book right to
• 35:58
  Speaker 2: saying it probably needs to be a little bit more.
• 36:00
  Speaker 2: But it can't just be text and email, no, right,
• 36:03
  Speaker 2: it needs to be Again, we gave something at the
• 36:05
  Speaker 2: very beginning of this show with it which is part
• 36:07
  Speaker 2: of our get Residual Agent dot com forward slash wait list.
• 36:11
  Speaker 2: So you get on, you can start providing more and
• 36:13
  Speaker 2: more value because the value that we provide, it's easy easy,
• 36:18
  Speaker 2: any coach, any people that go on podcasts, just oh,
• 36:22
  Speaker 2: just provide value, Brian. If you provide value, you know,
• 36:25
  Speaker 2: if you provide the value, they will come absolutely right.
• 36:28
  Speaker 1: There's the big gap there. It's like, okay, now what
• 36:30
  Speaker 1: what is valuable? That That is the point I've always met,
• 36:33
  Speaker 1: like what is valuable? Like again, I'm not just going
• 36:35
  Speaker 1: to be like calling up real estate prices are up?
• 36:38
  Speaker 3: Did you know that? I didn't know if you've seen
• 36:40
  Speaker 3: the news, Yeah, have you heard the news? You know,
• 36:41
  Speaker 3: interest rates are down.
• 36:43
  Speaker 2: Just wanted to provide that valuable information that you probably
• 36:45
  Speaker 2: haven't seen yet on Twitter or on Facebook or anywhere
• 36:49
  Speaker 2: that you can get the news at instantly now, right,
• 36:52
  Speaker 2: and so like that's the point is like we haven't
• 36:55
  Speaker 2: learned how to truly provide value, which.
• 36:57
  Speaker 3: Is how do we be how do we we got
• 36:59
  Speaker 3: to be the guy? We got to be the person?
• 37:02
  Speaker 2: Right, you're wearing that oversized trench cards like I got
• 37:04
  Speaker 2: like I got it here, I got it here, I
• 37:06
  Speaker 2: got a guy for you.
• 37:07
  Speaker 3: I got a person for you. Yeah.
• 37:08
  Speaker 2: So if you were that and and I came to
• 37:10
  Speaker 2: you and I was like, oh, Brian knows right, I
• 37:13
  Speaker 2: need this, and Bri it's like, I got youa yep.
• 37:15
  Speaker 2: And then what you did, Brian is that you went
• 37:17
  Speaker 2: into the portal and you said, hey, you know, Nick
• 37:19
  Speaker 2: needs X y Z. And then all of a sudden,
• 37:21
  Speaker 2: I get a call from your concierge team is like, hey,
• 37:23
  Speaker 2: by the way, we're shopping around for X y Z,
• 37:26
  Speaker 2: you know, et cetera.
• 37:27
  Speaker 3: How valuable would that be huge?
• 37:30
  Speaker 1: Not only would I feel like I have a concierge
• 37:33
  Speaker 1: that's taking care of my home ownership experience, I'm going
• 37:35
  Speaker 1: to remember my real estate agent.
• 37:37
  Speaker 2: They're going to be the top of my head all
• 37:38
  Speaker 2: the time. Do you know why people love the American Express?
• 37:41
  Speaker 2: You know, Platinum and Black Card, you know these other
• 37:44
  Speaker 2: high Chicago?
• 37:45
  Speaker 1: Recently and on short notice, I wanted to go to
• 37:48
  Speaker 1: a nice steakhouse and the one that I really wanted
• 37:51
  Speaker 1: to go to said no, I have not called the
• 37:55
  Speaker 1: Platinum concierge in a long time, but they got me
• 37:57
  Speaker 1: into a different one that was even better that I
• 38:01
  Speaker 1: had no reservations available online, nothing, none of that stuff.
• 38:05
  Speaker 1: And like I'm telling you, you only need to experience
• 38:08
  Speaker 1: that once and they really come through for you.
• 38:10
  Speaker 3: And you are a raving fan.
• 38:12
  Speaker 1: I am a raving fan of American Express because of twos.
• 38:17
  Speaker 1: I wish every real estate agent ran their business like
• 38:19
  Speaker 1: American Express runs there. One if you really need something,
• 38:22
  Speaker 1: they really are there for you. Their concierge team is
• 38:25
  Speaker 1: actually quite valuable. And two they are the nicest people
• 38:30
  Speaker 1: you'll ever meet in your entire life. We had a
• 38:34
  Speaker 1: situation with one of our organizations where we ran up
• 38:37
  Speaker 1: a really high MX bill because we're doing a big
• 38:40
  Speaker 1: project and nobody was monitoring it, and so they shut
• 38:42
  Speaker 1: our card off because they're like they thought it was
• 38:44
  Speaker 1: like you know, they're like why are yeah, why are
• 38:46
  Speaker 1: you spending so much money so quickly? And so it
• 38:49
  Speaker 1: got shut off and it's like the middle of the
• 38:50
  Speaker 1: Christmas season. I don't even know what day it was,
• 38:53
  Speaker 1: but it might have even been a weekend. And I
• 38:55
  Speaker 1: called them and they were like, oh my gosh, like
• 38:58
  Speaker 1: it looks like business is going so well. You're making
• 39:01
  Speaker 1: so many charges like and they're like, hey, we just
• 39:03
  Speaker 1: need to see you pay some of this down so
• 39:05
  Speaker 1: we know that it's not always going to be a balance.
• 39:07
  Speaker 1: And I was like, okay, yeah, we spent a lot
• 39:08
  Speaker 1: of money on a project. You know, I'll make a
• 39:10
  Speaker 1: payment today and so anyway, you know, it never got
• 39:12
  Speaker 1: turned off again once we had that conversation and they
• 39:15
  Speaker 1: kind of understood the flow of our business, how the
• 39:17
  Speaker 1: cash flow went. But like they made me feel so
• 39:20
  Speaker 1: good on the phone that like I wasn't even upset
• 39:23
  Speaker 1: that our car had gotten turned off. You just I
• 39:26
  Speaker 1: couldn't say enough about their customer service. And again you're
• 39:29
  Speaker 1: raving about them. By the way, you told everybody here
• 39:32
  Speaker 1: go apply for an AMEX.
• 39:33
  Speaker 2: They're awesome, but we get credit for it, so you
• 39:35
  Speaker 2: should put your yeah, use but you raved about them
• 39:39
  Speaker 2: while they also told you to pay your bill down. Yes,
• 39:41
  Speaker 2: So like again I want people to pick up on that,
• 39:43
  Speaker 2: because that's that's the point of like owning your database,
• 39:46
  Speaker 2: like it's your only asset. Build that concierce me. You
• 39:48
  Speaker 2: don't have to do a get risid dudgent dot com
• 39:50
  Speaker 2: for slash weightlist. Get on that wait list again, it's free,
• 39:53
  Speaker 2: doesn't cost you anything to be a part of that.
• 39:55
  Speaker 2: But this is something again, those thirty six touches if
• 39:57
  Speaker 2: you have something going on, like the Good Home Team
• 40:00
  Speaker 2: is doing a uh, we have three hundred tickets to
• 40:03
  Speaker 2: the Dallas Zoo, so we're the Takeover the Zoo event
• 40:05
  Speaker 2: and we've kind of we've changed it this year, so
• 40:07
  Speaker 2: we've always evolved into it's a lot easier to invite.
• 40:10
  Speaker 2: To call someone up to invite them, especially if you
• 40:12
  Speaker 2: haven't talked to him in a while, and be like, hey, Jesse,
• 40:15
  Speaker 2: you know I have I know I haven't talked to
• 40:16
  Speaker 2: you in a couple of years, but you know, one
• 40:18
  Speaker 2: I apologize. How's everything going right? Oh, you know it's
• 40:21
  Speaker 2: going well. You lost your job. I'm so sorry. You
• 40:23
  Speaker 2: start a tour studios awesome tour studios dot com. You know,
• 40:26
  Speaker 2: I'd love to shoot a podcast there. But you go
• 40:28
  Speaker 2: into and saying, hey, by the way, I just want
• 40:30
  Speaker 2: to invite you and your family to our take Over
• 40:33
  Speaker 2: the Zoo event that we're having here in May. That
• 40:36
  Speaker 2: would that be something you're interested in because we only
• 40:38
  Speaker 2: have a limited amount of tickets and I want to
• 40:39
  Speaker 2: make sure that if you're interested in it, so I
• 40:40
  Speaker 2: could reserve.
• 40:41
  Speaker 3: Those for you easy.
• 40:42
  Speaker 2: Even if they say no, what does everyone love the
• 40:45
  Speaker 2: invite yep, because what do you do?
• 40:46
  Speaker 3: What? What do I always tell you, I.
• 40:48
  Speaker 1: Just want the invite. I don't want to go, that's
• 40:49
  Speaker 1: ma I want. Brian will know that you're thinking about it.
• 40:52
  Speaker 2: Brian will always tell you Nick wants the invite, but
• 40:54
  Speaker 2: it'll never get.
• 40:55
  Speaker 3: It's never gonna come. That gets mad if you don't
• 40:57
  Speaker 3: invite him.
• 40:57
  Speaker 1: Yeah, so this is actionable thirty six Me and your
• 41:00
  Speaker 1: people need to be touched by you thirty six times
• 41:02
  Speaker 1: a year.
• 41:02
  Speaker 3: Okay, so simple twelve of them right there.
• 41:05
  Speaker 1: Email if you want to do your market report, your newsletter,
• 41:07
  Speaker 1: things like that. Really more than them can be emails,
• 41:10
  Speaker 1: but that's default right there. They need at least four
• 41:13
  Speaker 1: phone calls from you a year, right so once every
• 41:16
  Speaker 1: ninety days, pick up the darn phone and call your people,
• 41:18
  Speaker 1: ask them how they're doing. Guess what some of those
• 41:21
  Speaker 1: phone calls could be you inviting them to your community
• 41:24
  Speaker 1: events that if you're doing two to three times a year.
• 41:26
  Speaker 1: Now we're at about twenty touches right there. I haven't
• 41:29
  Speaker 1: even talked about anything else, like your concierge team, reshopping
• 41:32
  Speaker 1: them for their rates on different things that they're paying
• 41:35
  Speaker 1: for as homeowners. A couple of times a year now
• 41:37
  Speaker 1: that we're at now we're at about twenty two touches
• 41:38
  Speaker 1: right there.
• 41:39
  Speaker 3: Right these start to add up what you need to do.
• 41:43
  Speaker 1: You could literally when we were running Livy and we could,
• 41:46
  Speaker 1: I could show you on a whiteboard what your thirty
• 41:48
  Speaker 1: six touch experience look like, every single thing that when
• 41:51
  Speaker 1: you came into our database.
• 41:53
  Speaker 3: This is how you were touched by us every single year.
• 41:56
  Speaker 1: If you don't have that as an agent, right now,
• 41:59
  Speaker 1: as soon as you have up from listening to this episode,
• 42:02
  Speaker 1: go and build your thirty six touch campaign and then
• 42:04
  Speaker 1: put it in play one layer.
• 42:05
  Speaker 3: At a time.
• 42:06
  Speaker 2: Need help with that, just you know, paper it out
• 42:09
  Speaker 2: and then take a photo or build it out and
• 42:12
  Speaker 2: talk to your claud AI claud will go build that
• 42:14
  Speaker 2: out visually and help you step by step start to
• 42:17
  Speaker 2: implement that. So your AI coach, your AI assistant or
• 42:21
  Speaker 2: maybe your AI accountability partner can help you put all
• 42:24
  Speaker 2: that into place. And then you know, we as we
• 42:26
  Speaker 2: were kind of talking about this, this is something that
• 42:29
  Speaker 2: you know, this helped you become more the true expert.
• 42:31
  Speaker 2: And this is there are some people like seven step
• 42:34
  Speaker 2: playbook to get more business and and to take it
• 42:36
  Speaker 2: and you're going to hear build the trust of the
• 42:39
  Speaker 2: cost you building the trust through the to understanding the
• 42:41
  Speaker 2: cost of home ownership framework. Somethings boring, but it's true
• 42:45
  Speaker 2: because what here's what will end up happening is like
• 42:48
  Speaker 2: you've got maybe you working a lot more of the
• 42:50
  Speaker 2: first time home buyer you know segment like you know,
• 42:53
  Speaker 2: did you understand Brian when you bought your your first home?
• 42:56
  Speaker 2: And don't answer that yet, don't answer the question I'm
• 42:59
  Speaker 2: about to ask you yet this true cost of Homeownership framework.
• 43:03
  Speaker 2: What that means is that we want to really show
• 43:06
  Speaker 2: people like what is a cost to own home through
• 43:09
  Speaker 2: your through your mortgage, your interests, your taxes, your insurance.
• 43:13
  Speaker 2: Maybe there's homeowners you know maybe estimated the average estimated
• 43:17
  Speaker 2: utility bills. Right, we have to we have to help
• 43:21
  Speaker 2: people understand that we're not just worried about what your
• 43:23
  Speaker 2: monthly mortgage is going to be. You've got to understand
• 43:25
  Speaker 2: how much is insurance going to be? How much? How
• 43:27
  Speaker 2: much is the overall cost to maintain Because someone could
• 43:31
  Speaker 2: go get a mortgage and afford it. Then then you
• 43:33
  Speaker 2: start throwing in everything, all the other little things, and
• 43:35
  Speaker 2: now it pushes them into we're house poor and we
• 43:39
  Speaker 2: can't afford. You know, we're we're barely bumping up against
• 43:43
  Speaker 2: you know, being in the negative every single month.
• 43:45
  Speaker 1: I think one of the reasons this is important is
• 43:47
  Speaker 1: because deals are falling apart at a relatively high rate
• 43:50
  Speaker 1: right now. I think we could all probably agree on that.
• 43:53
  Speaker 1: I can tell you in our transaction management organization, we
• 43:56
  Speaker 1: see it every day because we see the amount of
• 43:58
  Speaker 1: contracts we're taking versus closing and terminations and things like that.
• 44:02
  Speaker 1: I think right now, agents are not equipping their buyer
• 44:07
  Speaker 1: clients well enough to understand the true cost of home ownership,
• 44:11
  Speaker 1: and it may be affecting the transaction when.
• 44:14
  Speaker 3: They're not experts on it. They need to understand.
• 44:16
  Speaker 2: They're still like I've heard agents still use and estimate
• 44:19
  Speaker 2: wrong property insurance. Yeah, they're using I was like, I
• 44:22
  Speaker 2: would love to get the insurance that you're quoting, right.
• 44:25
  Speaker 2: They need to understand where property taxes are. You know,
• 44:28
  Speaker 2: for the first time ever, by the way, my property
• 44:30
  Speaker 2: taxes went down, I haven't experienced that in a long time.
• 44:32
  Speaker 1: By the way, as part of your thirty six Touch campaign,
• 44:35
  Speaker 1: do you have a preferred insurance partner who's helping reshop
• 44:40
  Speaker 1: all of your clients every single year and making a
• 44:42
  Speaker 1: phone call to them on your behalf and saying, hey,
• 44:45
  Speaker 1: I'm part of Nikold's you know team. One of the
• 44:47
  Speaker 1: things that he provides as an agent is a complementary
• 44:51
  Speaker 1: policy audit every single year to see if we can
• 44:53
  Speaker 1: save you money on your homeowners insurance policy. I would
• 44:56
  Speaker 1: love to I'd love to see if we can save
• 44:58
  Speaker 1: you money. All I need is be your current policy
• 45:01
  Speaker 1: and I'll shop it and see if I can get
• 45:03
  Speaker 1: you a better rate.
• 45:03
  Speaker 3: Now, don I'm mad that to your thirty six touch
• 45:06
  Speaker 3: campaign people.
• 45:07
  Speaker 2: By the way, get Residual Agent dot com ford slash
• 45:09
  Speaker 2: wait list, we'll have that. So you know, that was
• 45:12
  Speaker 2: something that that's like, again, you can have this all
• 45:15
  Speaker 2: in one place. So this wasn't designed to keep pushing
• 45:19
  Speaker 2: to the Get Residual Agent program, but that is it
• 45:22
  Speaker 2: is something that if you see this, this is how
• 45:24
  Speaker 2: we can provide value and become that expert in that
• 45:27
  Speaker 2: go to person where they're like, oh, Brian, my agent. Brian,
• 45:32
  Speaker 2: he's got a person for that. Yep, Oh Brian, He's
• 45:34
  Speaker 2: the He's the expert when it comes to that. He knows,
• 45:37
  Speaker 2: he knows where appreciation's going. He knows where the market's
• 45:39
  Speaker 2: going because he provides me that I want. I read
• 45:41
  Speaker 2: his newsletter every every month, and it's not just bs
• 45:45
  Speaker 2: bull you know bs AI stuff written it wrote it.
• 45:48
  Speaker 1: Well, so then what are my clients going to go
• 45:49
  Speaker 1: tell the rest of their friends, Like when they go
• 45:52
  Speaker 1: to the party and they're like, you know, I'm just
• 45:53
  Speaker 1: getting killed on insurance.
• 45:54
  Speaker 3: It's renewed.
• 45:55
  Speaker 1: It's like crazy, Like, oh, she's talked to my real
• 45:56
  Speaker 1: estate agent. He hooked me up with his team. They
• 45:58
  Speaker 1: reshot my policy. They save me a bunch of money.
• 46:01
  Speaker 1: Do you guys understand what we're talking about when we
• 46:02
  Speaker 1: say providing more value?
• 46:04
  Speaker 3: Yes, it's I mean, it's not just market reports.
• 46:07
  Speaker 2: Right, and then again, there's there's a method to this
• 46:10
  Speaker 2: madness of follow us here. You need to become the
• 46:12
  Speaker 2: hyper local data authority. Right, this is the expert, but
• 46:17
  Speaker 2: it's not. You're not expert in all of Dallas Fort Worth. Yeah, right,
• 46:20
  Speaker 2: you need you need to narrow this down. DFW is
• 46:23
  Speaker 2: not one market, No, it's huge. I'm an agent DFW.
• 46:27
  Speaker 2: Well what do you serve DFWFW?
• 46:29
  Speaker 3: Like, no, you don't. When was the last time you
• 46:31
  Speaker 3: went to West Fort Worth?
• 46:33
  Speaker 2: I used to do that way like we used to
• 46:35
  Speaker 2: when we were setting expired appointments back in the day.
• 46:38
  Speaker 2: I would get onto my team because they would send
• 46:40
  Speaker 2: me to Burleson and then I'm like, why can't we
• 46:42
  Speaker 2: batch all the Burlesson ones all in one day? Yes,
• 46:45
  Speaker 2: because they would send me to Burliston on a Monday,
• 46:48
  Speaker 2: and I would be in an Plano on Tuesday and
• 46:49
  Speaker 2: then back in Burlsson on Wednesday.
• 46:51
  Speaker 3: I'm like, guys, can't we just rolly?
• 46:54
  Speaker 1: Man?
• 46:54
  Speaker 3: It's so funny. I remember driving so far from some
• 46:57
  Speaker 3: of these.
• 46:57
  Speaker 1: We are a huge metroplex, but your people don't care
• 47:00
  Speaker 1: what's going on in every part of the market or
• 47:02
  Speaker 1: every part of the metroplex. So especially your database, you'll
• 47:05
  Speaker 1: find ways to become the hyper local data authority.
• 47:08
  Speaker 3: People very much care about what's going on in their area.
• 47:12
  Speaker 1: People love to talk about what's going on in their area.
• 47:15
  Speaker 1: Oh my gosh, go join an hoa of any sort
• 47:17
  Speaker 1: and join their Facebook group. People love talking about what's
• 47:21
  Speaker 1: going on in their area. So the more that you
• 47:23
  Speaker 1: can do, and again this is why you have some
• 47:25
  Speaker 1: crazy tools available to us now in this marketplace. With
• 47:27
  Speaker 1: AI and all these other types of things, we can
• 47:30
  Speaker 1: become the hyper Local Data Authority on many different areas
• 47:34
  Speaker 1: that our people live in and continue to provide them
• 47:36
  Speaker 1: information and value on what's going on in their area
• 47:39
  Speaker 1: that they do find useful because people love knowing more
• 47:42
  Speaker 1: about what's going on in their their home, their and
• 47:44
  Speaker 1: their their neighborhood.
• 47:45
  Speaker 2: Jesse, let me ask you. Go to tour studios dot com,
• 47:48
  Speaker 2: but let me ask you, how have your videos been
• 47:50
  Speaker 2: doing as you've been picking on cities and areas.
• 47:54
  Speaker 3: How much?
• 47:55
  Speaker 2: How much have your views gone up and your subscriber
• 47:58
  Speaker 2: growth on your YouTube channel? Uh?
• 48:01
  Speaker 5: Dramatically. One of the biggest ones is on TikTok. People
• 48:05
  Speaker 5: love hyper local conversations on TikTok. It's the weirdest thing. Yeah, Facebook, Instagram,
• 48:13
  Speaker 5: YouTube to do well. But I mean, I've got some
• 48:16
  Speaker 5: that are twenty thousand views, forty thousand views, and I've
• 48:19
  Speaker 5: never had that on on TikTok. And it's the simple
• 48:24
  Speaker 5: fact of you know, talking about certain.
• 48:28
  Speaker 3: It's trending topics, right, We're talking about trending topics.
• 48:30
  Speaker 2: And you can go and you can go and ask,
• 48:34
  Speaker 2: you know, you can have your AI assistant research trending
• 48:37
  Speaker 2: topics in the area that you want to really focus on.
• 48:39
  Speaker 3: It could be hey, what's going on?
• 48:41
  Speaker 2: And you know seven five two five two, Yeah, we're here,
• 48:44
  Speaker 2: this is where we shoot this podcast from here in Dallas.
• 48:46
  Speaker 2: Seven five two five two. What is the what is
• 48:48
  Speaker 2: the trending? You know, hot topics that.
• 48:51
  Speaker 3: Is going on?
• 48:51
  Speaker 2: You can google you can even do Google searches for that,
• 48:55
  Speaker 2: and then you can do your videos. You could do
• 48:57
  Speaker 2: your post about it. You could you could make little
• 48:59
  Speaker 2: video short's over it.
• 49:01
  Speaker 3: That's what it's is. How do how do you deploy it? Right?
• 49:04
  Speaker 1: Many different ways. It's usually not a deployment problem. It's
• 49:07
  Speaker 1: an information problem. I haven't taken time to become that
• 49:10
  Speaker 1: local expert once. Once you get a cadence around that,
• 49:13
  Speaker 1: especially using AI, the deployment is usually not your problem.
• 49:16
  Speaker 3: I'm going to tell you right now.
• 49:16
  Speaker 2: My wife, Heather is the hyper local real estate expert.
• 49:21
  Speaker 2: She doesn't even have her license on on homes that
• 49:24
  Speaker 2: have come up for sale and under contract and how
• 49:26
  Speaker 2: long they've been on the market and sometimes zero something
• 49:28
  Speaker 2: two she's like, oh, I've seen that one already, Like
• 49:32
  Speaker 2: are you just on the.
• 49:34
  Speaker 3: You see already looking for the next home?
• 49:35
  Speaker 2: You go? She is, She just loves looking at what
• 49:39
  Speaker 2: houses come up for sale, the price that's going on,
• 49:41
  Speaker 2: and then she'll send them to her friend group and
• 49:44
  Speaker 2: I'm like, are you guys moving, No, but just we
• 49:47
  Speaker 2: just love to know what's.
• 49:48
  Speaker 3: On the market. And they're going to think about you guys.
• 49:50
  Speaker 3: Yes for the they know referrals one hundred percent.
• 49:52
  Speaker 2: Yes, So you could ask her She's like, I know
• 49:55
  Speaker 2: that one four bedrooms, you know, I know that floor plan.
• 49:57
  Speaker 3: I know, oh, that one doesn't have any updates.
• 49:59
  Speaker 2: If you were as a real estate agent and people
• 50:02
  Speaker 2: are talking to you and there and you heard Heather
• 50:04
  Speaker 2: she had her license, and you were looking at McKenny
• 50:05
  Speaker 2: in that area, you would you would you would know
• 50:08
  Speaker 2: already that she's the hyper local expert for that that particular,
• 50:12
  Speaker 2: that particular area of town.
• 50:14
  Speaker 3: You should be.
• 50:15
  Speaker 1: We we went to an open house two houses down
• 50:17
  Speaker 1: for most the other day. And then you go in
• 50:19
  Speaker 1: and then you're so nice to the agent, you know,
• 50:22
  Speaker 1: and you're like, oh, this is beautiful, and then you
• 50:24
  Speaker 1: leave and you're like, that house it's not nearly as
• 50:26
  Speaker 1: good as our house man. We saw that floor plan
• 50:29
  Speaker 1: whenever we were looking, it didn't work for us at all.
• 50:32
  Speaker 2: Or or you judge the agent because they don't really
• 50:35
  Speaker 2: know the area, right, So look, just focus on becoming
• 50:40
  Speaker 2: the hyper you know that your hyper local expert and
• 50:44
  Speaker 2: published content around it.
• 50:45
  Speaker 3: It's hot topics still around, by the way they are,
• 50:49
  Speaker 3: is it? There's a few of them that Jesse shops there.
• 50:52
  Speaker 3: How did you know that?
• 50:53
  Speaker 5: Because I remember seeing it in one of the malls
• 50:55
  Speaker 5: at some point.
• 50:57
  Speaker 3: Our mall is still around a couple of I'm gonna
• 51:00
  Speaker 3: go get a slip.
• 51:01
  Speaker 5: One's about to be a dellas Star's headquarters.
• 51:05
  Speaker 3: Yeah, it is that finally breaking news. Is it out there? No,
• 51:09
  Speaker 3: that's not yet, but that is some local data you
• 51:12
  Speaker 3: should stay up on. It's right.
• 51:13
  Speaker 2: Yeah, you could be publishing that if you're focusing on
• 51:16
  Speaker 2: that west side of Plano. I would be talking about
• 51:18
  Speaker 2: that and the impact it could beab on values or traffic,
• 51:22
  Speaker 2: on cool things that it would attract.
• 51:26
  Speaker 1: So we've got some inside sources who say it's a
• 51:29
  Speaker 1: done deal. Never a done deal, never done deal. But
• 51:34
  Speaker 1: come to our next reeltor meetup over there.
• 51:36
  Speaker 2: And then let's uh number five, number five of this
• 51:39
  Speaker 2: this seven step playbook, which we've talked a lot about
• 51:42
  Speaker 2: it already deploy AI to out respond every competitor.
• 51:47
  Speaker 3: Here's the thing.
• 51:48
  Speaker 1: If you're generating leads in your business now outside of
• 51:51
  Speaker 1: just referrals, like you are generating leads through your website,
• 51:54
  Speaker 1: you're paying for leads whatever. If you are not out
• 51:57
  Speaker 1: responding everybody else using AI, stop what you're doing after
• 52:02
  Speaker 1: you do the first thing I told you, and then
• 52:04
  Speaker 1: go learn how to deploy AI to be at least
• 52:06
  Speaker 1: your first line of defense for.
• 52:09
  Speaker 3: Lead responses.
• 52:10
  Speaker 1: If you don't respond to a lead within five minutes,
• 52:12
  Speaker 1: your conversion rate goes down drastically. And AI as a
• 52:15
  Speaker 1: tool right now, whether it is integrated through your CRM,
• 52:18
  Speaker 1: which there are many that have these natively, or you're
• 52:20
  Speaker 1: doing it through some sort of integration like API call,
• 52:23
  Speaker 1: which by the way, if you just talk to AI
• 52:25
  Speaker 1: will probably tell you how to set all these things up.
• 52:28
  Speaker 1: You need to be using AI to increase your response time.
• 52:31
  Speaker 1: That's going to set you up for more warm in bats,
• 52:33
  Speaker 1: more warm conversation.
• 52:34
  Speaker 3: You know how I kind of view all this is.
• 52:36
  Speaker 2: I remember before and this was kind of before webs
• 52:41
  Speaker 2: like websites were still a thing. But in two thousand
• 52:45
  Speaker 2: and eight nine ten, I could tell you that there
• 52:48
  Speaker 2: was a large amount of agents that I would network
• 52:50
  Speaker 2: with that actually didn't have a real they didn't have
• 52:52
  Speaker 2: a website day.
• 52:53
  Speaker 1: I remember whenever Plaster started to become big, yes, and
• 52:57
  Speaker 1: that was kind of like for me, it was kind
• 52:59
  Speaker 1: of the first experience where a lot of agents got
• 53:03
  Speaker 1: their first website yep, and that that that that to
• 53:06
  Speaker 1: me was kind of eye opening because a lot of
• 53:08
  Speaker 1: them didn't have websites before.
• 53:09
  Speaker 2: And then you'd also like a lot of the websites
• 53:11
  Speaker 2: now you just assume it has IDx capabilities, Like yeah,
• 53:14
  Speaker 2: back then my first website, I spent money on it,
• 53:17
  Speaker 2: and I was like, oh, it doesn't have an IDx
• 53:20
  Speaker 2: function and you had to pay extra for that, and
• 53:22
  Speaker 2: I didn't have the money. So I would send I
• 53:25
  Speaker 2: was sending traffic to it, and people were getting pissed
• 53:27
  Speaker 2: because they I said, oh, come search for plane of
• 53:29
  Speaker 2: homes for so Richard and homes for so that's where
• 53:31
  Speaker 2: I lived at the time, and no homes were pulling up,
• 53:34
  Speaker 2: and so they would they would, you know, they were
• 53:35
  Speaker 2: emailing me complaining that You're.
• 53:37
  Speaker 1: Like, well, buy a house with me and I can
• 53:38
  Speaker 1: have the money, Yeah, to turn on the X features
• 53:41
  Speaker 1: how you buy your next one.
• 53:42
  Speaker 2: To take all the leads and then put them into
• 53:44
  Speaker 2: my MLS to say this source and turn on the
• 53:47
  Speaker 2: MLS search. It was very nuanced, and so now it's
• 53:52
  Speaker 2: like you know, brokerages right now, ninety seven percent of
• 53:55
  Speaker 2: brokerages are saying agents only are using AI, or they're
• 53:58
  Speaker 2: using AI but mostly for listening descriptions.
• 54:02
  Speaker 3: Right, and now I'm going to tell you right now like.
• 54:04
  Speaker 2: That if you don't prove read that, it will definitely
• 54:06
  Speaker 2: mess up your listening descriptions. And most people know if
• 54:09
  Speaker 2: it's a I.
• 54:09
  Speaker 1: Rate, it's almost I mean, I don't know how many
• 54:13
  Speaker 1: people are making their decisions off listing descriptions in these
• 54:16
  Speaker 1: days anyway, I think most of its pictures. But it's
• 54:19
  Speaker 1: so obvious when A it uses. Okay, here's one thing.
• 54:23
  Speaker 1: If you're going to have AI, right you're listening descriptions,
• 54:26
  Speaker 1: I get that timesaver. Tell it to calm down. Calm
• 54:29
  Speaker 1: down on the adjectives. Calm down on the adjectives. Not
• 54:34
  Speaker 1: everything is opulent. Let's calm down. Tell it to talk
• 54:38
  Speaker 1: like a human being. Tell to talk like you. That'll
• 54:41
  Speaker 1: help you a little bit. If tooxically it's mind spells
• 54:44
  Speaker 1: words wrong. Spell a couple of words wrong, and don't
• 54:48
  Speaker 1: put what's the extended hyphenes. Yeah, it's intense, the amount,
• 54:55
  Speaker 1: And I want to know if there's a way to
• 54:56
  Speaker 1: google this, the amount of M dashes that existed in written.
• 55:00
  Speaker 3: Form on the Internet pre twenty twenty one and.
• 55:03
  Speaker 2: Post twenty So I'm gonna tell you. I'm gonna tell
• 55:05
  Speaker 2: you right now. I like using that. I always typed
• 55:08
  Speaker 2: with that before AI, and now I can't do it
• 55:11
  Speaker 2: because everyone then thinks as AI.
• 55:12
  Speaker 3: Things is AI. I used it occasionally.
• 55:14
  Speaker 1: I mean, I'm I'm writing major, so I do know
• 55:17
  Speaker 1: when to use an M dash one it's appropriate, or
• 55:19
  Speaker 1: use a semi colon or a colon or a common
• 55:21
  Speaker 1: I don't mean. I just like the way it looks.
• 55:23
  Speaker 1: I like the relistic preference. But it's the only stylistic
• 55:26
  Speaker 1: preference that AI seems to have.
• 55:28
  Speaker 2: It's the same way that I like to look at
• 55:29
  Speaker 2: the dot dot dot dot dot dot, even though it
• 55:33
  Speaker 2: shouldn't be there.
• 55:34
  Speaker 3: I just like the way it looks. So it's called ellipses, yes.
• 55:37
  Speaker 2: Yes, but we so in our in our CRM system,
• 55:41
  Speaker 2: we have our amazing AI assistant. Her name is Gabby,
• 55:45
  Speaker 2: and Gabby gets deployed fifty times a day, no more
• 55:49
  Speaker 2: than that. Because you don't want to have her. You
• 55:51
  Speaker 2: don't want to get blocked by carriers, right, So really
• 55:55
  Speaker 2: it's two hundred and fifty a week, no more than
• 55:57
  Speaker 2: fifty a day. And I would tell you how awesome
• 55:59
  Speaker 2: it is when I get a notification from Gabby that
• 56:02
  Speaker 2: pings me, that says, hey, Nick, reach out to Brian.
• 56:05
  Speaker 2: Brian is looking at he wants more information on some
• 56:09
  Speaker 2: houses in and McKinney, and he's already teed up for
• 56:13
  Speaker 2: a phone call. It gives me a summary description or
• 56:16
  Speaker 2: that it will tell me that hey, he's been you know,
• 56:18
  Speaker 2: it will show me everything that you've been looking at. So, Gabby,
• 56:22
  Speaker 2: our AI system is amazing. If you don't have that one,
• 56:25
  Speaker 2: you should get a new CRM system that has it,
• 56:28
  Speaker 2: you know, incorporated in for you know, hopefully next to nothing,
• 56:31
  Speaker 2: or you can get a third party system that will
• 56:33
  Speaker 2: do it. Yeah.
• 56:33
  Speaker 1: I mean again, a lot of this stuff is using
• 56:36
  Speaker 1: AI to tell you how to integrate these things. It'll
• 56:38
  Speaker 1: integrate with just about any system through API call, so
• 56:40
  Speaker 1: you probably can already do it with whatever you're using.
• 56:43
  Speaker 3: Brian. What is number six out of this seven step playbook?
• 56:46
  Speaker 1: Number six is to add revenue that doesn't depend on
• 56:49
  Speaker 1: a closed sale, which, again, when you're starting to think
• 56:51
  Speaker 1: about like a business owner rather than just an individual
• 56:54
  Speaker 1: sales agent, you realize that there is a much bigger
• 56:57
  Speaker 1: pie that you can capture out there that doesn't just
• 56:59
  Speaker 1: depend and on the commission that you receive it closing.
• 57:03
  Speaker 2: So what we wrote here two thousand and eight the
• 57:05
  Speaker 2: agents in two thousand and eight, the agents with the
• 57:08
  Speaker 2: first diversified income. Yes, they were able to stay calm, cool, collected.
• 57:14
  Speaker 2: By the way, if you go in our Facebook group
• 57:16
  Speaker 2: DFW Realtors, Jason Northcutt, he was a lender back in
• 57:19
  Speaker 2: eight and he'd had some tough times. He's still he
• 57:23
  Speaker 2: is saying that two thousand and eight is tougher than today.
• 57:26
  Speaker 2: I have disagree with that. I respect, I respect his response.
• 57:30
  Speaker 2: I still think I think today's market's a lot tougher
• 57:33
  Speaker 2: than the eight market was. Yeah, you know, go listen
• 57:37
  Speaker 2: to last week's show and you can see the reasons
• 57:39
  Speaker 2: why I think that is.
• 57:40
  Speaker 1: I think there's a thing about well one, everybody experiences
• 57:43
  Speaker 1: things differently so and it was certainly harder for some
• 57:45
  Speaker 1: people than this market, and vice versa. We I think
• 57:49
  Speaker 1: we tend to not give credence to how hard things
• 57:53
  Speaker 1: are when we're going through them, and they they seem
• 57:57
  Speaker 1: we realize how hard they were in hindsight, But every
• 57:59
  Speaker 1: day we're just getting up and living every day. Right,
• 58:02
  Speaker 1: So I think that we'll look back on this particular
• 58:04
  Speaker 1: market and.
• 58:05
  Speaker 3: Go, wow, how do we get through that?
• 58:07
  Speaker 1: In hindsight, it'll seem harder than it seems in this moment,
• 58:10
  Speaker 1: because every day, if you just get up and you're working,
• 58:12
  Speaker 1: you know, you live your twenty four hours and you
• 58:15
  Speaker 1: keep moving on. You don't stand yeah, I don't sit
• 58:17
  Speaker 1: here to ponder on how hard these things are. So
• 58:19
  Speaker 1: I can understand two thousand and eight seeming harder than
• 58:21
  Speaker 1: right now, and then when we get to the next
• 58:23
  Speaker 1: bubble in twenty thirty six, we'll be like, man, twenty
• 58:26
  Speaker 1: twenty six was so hard.
• 58:28
  Speaker 3: Yeah. Yeah.
• 58:29
  Speaker 2: But again, the agents that in eight that went through
• 58:32
  Speaker 2: that financial collapse that maybe had they their income, they
• 58:36
  Speaker 2: had success here and right before that, the agents that
• 58:39
  Speaker 2: had that diversified income or maybe that side hustle income.
• 58:42
  Speaker 3: You know, they survived.
• 58:44
  Speaker 2: And I'll tell you there's so many agents I could
• 58:46
  Speaker 2: I could go back and remember that they had some
• 58:49
  Speaker 2: type of I remember sency I think.
• 58:51
  Speaker 1: It was that was that Oh yeah, the candles. The
• 58:54
  Speaker 1: candle it was it was like it was like wax.
• 58:56
  Speaker 2: It was wax, and then you bought the heater and
• 58:58
  Speaker 2: then it put it on and and you know the
• 59:01
  Speaker 2: fragrance for your home. And people are selling those to
• 59:03
  Speaker 2: agents for open houses and listings and everything else like that.
• 59:06
  Speaker 2: I know people that a lot of their they were
• 59:10
  Speaker 2: hurting so bad on their sales income that they use
• 59:13
  Speaker 2: that that kind of secondary income as a way to
• 59:15
  Speaker 2: be able to ride out that that downturn.
• 59:19
  Speaker 3: And good for them. That's the entrepreneurial spirit.
• 59:21
  Speaker 2: Yes, and they and they still utilize, they still utilize
• 59:24
  Speaker 2: their real estate connections and to still sell, which is
• 59:27
  Speaker 2: what we talked about earlier in the show with a
• 59:29
  Speaker 2: get residual agent as well as you could look at
• 59:33
  Speaker 2: property management referrals. I know Homeward, Homeward DFW dot com,
• 59:36
  Speaker 2: Dana Wynn and Duncan O'Donnell, who are property managers who
• 59:39
  Speaker 2: do an amazing job. You're wearing the hat on wearing the
• 59:41
  Speaker 2: shirt that we have agents setting up and getting paid
• 59:46
  Speaker 2: out referral commissions for every every lease in every management
• 59:51
  Speaker 2: agreement that is sent over and referred to us.
• 59:53
  Speaker 1: One of the biggest sources of new clients at Homeward
• 59:59
  Speaker 1: is he people that aren't going to quite be able
• 1:00:02
  Speaker 1: to sell for what they expected for the home sitting
• 1:00:04
  Speaker 1: on the market a little bit longer than they anticipated,
• 1:00:07
  Speaker 1: and it makes more sense for them to turn it
• 1:00:10
  Speaker 1: into a rental right now because they don't necessarily need
• 1:00:13
  Speaker 1: the equity to get out of it to purchase their
• 1:00:15
  Speaker 1: new home, or they can rent it at a rate
• 1:00:17
  Speaker 1: that it doesn't affect their debtay income ratio, and so
• 1:00:20
  Speaker 1: it makes more sense for them to hold on to
• 1:00:22
  Speaker 1: it as a rental. We're helping agents educate their sellers
• 1:00:25
  Speaker 1: on that and then they're getting that referral. And by
• 1:00:28
  Speaker 1: the way, eventually those people are going to sell their
• 1:00:30
  Speaker 1: home and the agent's still going to get that deal.
• 1:00:32
  Speaker 1: So you can increase your revenue because eventually I'll get
• 1:00:34
  Speaker 1: this listing again, but right now I'll get the referral
• 1:00:37
  Speaker 1: feed by referring it to a management company again, providing
• 1:00:40
  Speaker 1: more value for my client, and I'm capturing more revenue,
• 1:00:43
  Speaker 1: and then eventually I'll end up getting that listing later
• 1:00:45
  Speaker 1: again hundred percent.
• 1:00:46
  Speaker 2: And the last of this is be the agent who
• 1:00:51
  Speaker 2: tells the truth, right, I don't know, we've seen it,
• 1:00:55
  Speaker 2: especially when maybe the economy of the market's not doing
• 1:00:58
  Speaker 2: so well. You know, most agents are telling their clients
• 1:01:01
  Speaker 2: what they want to hear. Yeah, right, they pricing, you know,
• 1:01:04
  Speaker 2: pricing high to win listings, promising rate drops you know,
• 1:01:07
  Speaker 2: remember it was date the rate, you know, marry the house,
• 1:01:09
  Speaker 2: date the rate. You know, maybe promising rate drops that
• 1:01:13
  Speaker 2: aren't coming because they don't know.
• 1:01:15
  Speaker 1: Yeah, we think rates will probably come down in like
• 1:01:17
  Speaker 1: the mid fives next year. Do you remember times we
• 1:01:19
  Speaker 1: said that in like twenty twenty two, late twenty twenty two,
• 1:01:22
  Speaker 1: early twenty twenty three, and we said this.
• 1:01:24
  Speaker 3: On some of our other shows. I called that out.
• 1:01:27
  Speaker 3: I was like, why why do you think that? Just cauz.
• 1:01:32
  Speaker 2: Look it was Look even this year we were expected
• 1:01:34
  Speaker 2: to have lower rates, right, and that we had agencies.
• 1:01:37
  Speaker 3: I'm always institution by this telling us that I'm telling
• 1:01:41
  Speaker 3: you guys drop. I mentioned this on I think last
• 1:01:43
  Speaker 3: week's episode.
• 1:01:43
  Speaker 1: If you've never read this Signal in the Noise by
• 1:01:45
  Speaker 1: Nate Silver, go read it about how we make predictions
• 1:01:48
  Speaker 1: and why you'd be fascinated by the amount of economic
• 1:01:51
  Speaker 1: predictions that are made for the wrong reasons. Many of
• 1:01:54
  Speaker 1: them bureaucratic. Many of them are people trying to get
• 1:01:56
  Speaker 1: a notoriety of foothold in their career. If you're not active,
• 1:02:00
  Speaker 1: than you don't have a voice in the conversation. The
• 1:02:02
  Speaker 1: amount of real thought that goes into some of our
• 1:02:05
  Speaker 1: economic forecasts is abysmal. Like truly, don't listen to agencies
• 1:02:10
  Speaker 1: that tell you things are gonna happen. They almost never
• 1:02:12
  Speaker 1: do what Sorry, it's just wild, I know, sidebar. But
• 1:02:17
  Speaker 1: like when we talk about being the agent that tells
• 1:02:21
  Speaker 1: the truth, or like I saw it and we listened
• 1:02:22
  Speaker 1: to lenders like rates are going to come down, I
• 1:02:24
  Speaker 1: just was like why, like fundamentally why, So anyway I
• 1:02:27
  Speaker 1: say all out to say, do you know what your prospects?
• 1:02:29
  Speaker 1: Respect expertise and that doesn't mean you have to be
• 1:02:33
  Speaker 1: the expert and everything. It means just tell the truth
• 1:02:35
  Speaker 1: about what is happening, what has happened, where we're at
• 1:02:39
  Speaker 1: currently right now, and help your people make an educated decision. Right,
• 1:02:43
  Speaker 1: this is a great example. You want to go and
• 1:02:46
  Speaker 1: you're gonna go to a listing appointment. You worked really
• 1:02:48
  Speaker 1: hard on this. This is a referral or an expired
• 1:02:51
  Speaker 1: or whatever. They have a misinterpretation of what they're home
• 1:02:54
  Speaker 1: street priced at because they live through the COVID days
• 1:02:57
  Speaker 1: a few years ago, and they still think their home
• 1:02:58
  Speaker 1: is probably worth ten percent more than.
• 1:03:00
  Speaker 3: It actually is.
• 1:03:01
  Speaker 2: I'll tell you when I bought my house last year, No.
• 1:03:05
  Speaker 2: Twenty four, I think it was right two years ago,
• 1:03:07
  Speaker 2: two years ago, and when I was negotiating with it,
• 1:03:11
  Speaker 2: I got a forty thousand dollars in seller credits to
• 1:03:16
  Speaker 2: buy my rate down, and I used a great lender,
• 1:03:21
  Speaker 2: but I was talking to the other lenders about it,
• 1:03:23
  Speaker 2: and I couldn't tell you how many lenders told me
• 1:03:25
  Speaker 2: that I was wasting my money using that forty thousand
• 1:03:28
  Speaker 2: dollars to buy the rate down, because in two years,
• 1:03:30
  Speaker 2: you have to look at the cost of that forty
• 1:03:33
  Speaker 2: thousand what I could use it for versus the rate buydown,
• 1:03:35
  Speaker 2: because I would refy it within two years, and I
• 1:03:39
  Speaker 2: just won.
• 1:03:40
  Speaker 3: I didn't really see that.
• 1:03:42
  Speaker 2: And two I was like, I'm going to take the
• 1:03:44
  Speaker 2: guaranteed low rate versus that higher rate at a much
• 1:03:47
  Speaker 2: higher payment, and I'm going to tell you that. Unfortunately,
• 1:03:51
  Speaker 2: there's some buyers that would have listened to these other
• 1:03:54
  Speaker 2: lenders who are very well respected, and not that they
• 1:03:59
  Speaker 2: told me what I wanting to hear or needing to hear.
• 1:04:01
  Speaker 2: I think that sometimes there's some self serving interest to say, Hey,
• 1:04:05
  Speaker 2: this higher rate, we're going to refin you in two
• 1:04:08
  Speaker 2: years to try to get that business back. So we've
• 1:04:10
  Speaker 2: got to kind of look through that noise as well.
• 1:04:12
  Speaker 1: There was millions of conversations around the two thousand and
• 1:04:17
  Speaker 1: four and five era that went something like this, why
• 1:04:22
  Speaker 1: don't we just lock you into this loan now, and
• 1:04:26
  Speaker 1: in a few years when the rate adjusts, you'll have
• 1:04:29
  Speaker 1: enough equity you could just refinance the home.
• 1:04:30
  Speaker 3: It's really never going to affect your payment when values dropped.
• 1:04:36
  Speaker 3: What if you couldn't refin. Oh, you don't want to
• 1:04:38
  Speaker 3: talk about that because you're going to make more money.
• 1:04:40
  Speaker 2: But if you can't, though, you're going to be in
• 1:04:42
  Speaker 2: a better financial position in two or three years, right, Brian,
• 1:04:45
  Speaker 2: That was that was the question.
• 1:04:47
  Speaker 3: I mean, look, two years from you're probably gonna be
• 1:04:48
  Speaker 3: making a little bit more money. You think you were
• 1:04:49
  Speaker 3: probably making a little bit more money in two three years.
• 1:04:51
  Speaker 3: Who's going to say no to that? Right?
• 1:04:53
  Speaker 1: And if your rates adjust, we can I mean, we
• 1:04:55
  Speaker 1: can always just refinance, because you know this is your
• 1:04:57
  Speaker 1: teaser rate.
• 1:04:58
  Speaker 3: But we'll refinance you into your long term or mortgage
• 1:05:00
  Speaker 3: in three years. Look, be the honest agent.
• 1:05:05
  Speaker 2: It's tough sometimes, Like I know, it feels like you're
• 1:05:08
  Speaker 2: going to talk yourself out of a deal or not
• 1:05:09
  Speaker 2: get the deal because you're not. You're telling them what
• 1:05:11
  Speaker 2: they need to hear, not what they want to hear.
• 1:05:13
  Speaker 2: But more often than not, you're gonna have those clients
• 1:05:17
  Speaker 2: for life. You're gonna you're gonna win more deals than
• 1:05:19
  Speaker 2: you lose.
• 1:05:19
  Speaker 3: I promise you that. So uh, that is episode ten
• 1:05:22
  Speaker 3: in the books.
• 1:05:23
  Speaker 1: Today, Brian, go out, if there's one or two things
• 1:05:26
  Speaker 1: to take away from this one, use and use the
• 1:05:28
  Speaker 1: technology that's available to you in your business, and go
• 1:05:31
  Speaker 1: out and work your database and use tools to build
• 1:05:34
  Speaker 1: your campaigns like that is your only asset as a
• 1:05:38
  Speaker 1: as a coach. I just cannot harp on this enough.
• 1:05:41
  Speaker 1: The people that you need to do business with to
• 1:05:44
  Speaker 1: hit your goals are almost positively already in your world.
• 1:05:50
  Speaker 1: You're just not capturing the amount of available referrals. And
• 1:05:53
  Speaker 1: if you build out the systems to continue to actually
• 1:05:56
  Speaker 1: provide real value to them, not just some flashy stuff
• 1:06:01
  Speaker 1: that you feel like is value because it's a market
• 1:06:03
  Speaker 1: report or whatever. I guarantee you if you picked up
• 1:06:07
  Speaker 1: this thing and looked at all the people in there
• 1:06:09
  Speaker 1: and asked what type of value could truly truly provide
• 1:06:11
  Speaker 1: to them. There's fifty deals a year minimum in your
• 1:06:14
  Speaker 1: phone right now.
• 1:06:14
  Speaker 2: The systems is your leverage one hundred percent yep, Episode ten.
• 1:06:19
  Speaker 2: Go leave us a review, subscribe, do all the good Things.
• 1:06:21
  Speaker 2: Joined the DFW Whelatters Facebook group. If you want to
• 1:06:24
  Speaker 2: know who sponsors this, just reach out to us. Homeword
• 1:06:28
  Speaker 2: Property Management, Home Homework DFW dot com. If you're looking
• 1:06:31
  Speaker 2: for a remodeling and maintenance company, pro Kre Home Solution
• 1:06:34
  Speaker 2: prokredfw dot com as well as Jesse will make you
• 1:06:38
  Speaker 2: look amazing.
• 1:06:38
  Speaker 3: He looked.
• 1:06:39
  Speaker 2: He loves to use the AI thumbnails just to mess
• 1:06:42
  Speaker 2: with me and Bryan. So go to tour Studios dot com.
• 1:06:44
  Speaker 2: T O r E Studios dot com.
• 1:06:47
  Speaker 3: We will see you all next week.
• 1:06:51
  Speaker 1: Churn it up.
• 1:06:55
  Speaker 4: This week at DFILM Your Real Estate a weekly podcast
• 1:07:01
  Speaker 4: too for agents who actually give pay parking moves less
• 1:07:05
  Speaker 4: than he Colthing Streets dem comedy agent
• 1:07:13
  Speaker 3: Lessen