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This Market Isn’t Easy—But You Don’t Have to Quit · The Real Estate Agent Playbook

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  this is the market that burns agents out
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  we've been talking a lot about this on this channel
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  but here today
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  I'm here to tell you that we're still standing
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  we're still here and you don't have to quit
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  there are other ways to get through this slower
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  kind of everything's difficult market
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  and you have to understand that those remain standing
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  at the end will be light years ahead
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  and gaining market share
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  on the other side of this low that we're experiencing
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  we're gonna talk about all that and more stay tuned
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  what's up guys
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  I'm Jeremy Kane with the real estate agent playbook
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  and I'm here to talk to you a little bit about
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  not sugarcoating this
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  I help agents all the time work through the
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  the kind of tough spells
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  whether it's just getting in the industry
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  and growing a business based on
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  sphere based referrals
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  or taking your business from 10 deals a year
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  to 20 to 30 that's what I help agents do
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  so if you're interested in learning more about that
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  book a Realtor game plan call below
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  but let's get into it let's not sugarcoat it
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  this market is tough
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  most agents are looking up at their pipeline
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  and really concerned about what this looks like
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  as we head into a slower seasonality in most markets
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  as the summer selling season is coming to an end
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  agents are looking at it
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  and it's becoming more and more obvious that
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  that transactional focus
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  is definitely something that agents are focused on
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  and if the transactions are harder
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  they're not flowing in
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  like they did over the last five years
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  you're not alone transactions are down
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  we may finish this year
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  with less transactions than last year
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  and we all know that that is the case
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  so let's be real
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  and let's sit back and understand that
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  we can't throw everything out with
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  you know the
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  all the relationships we build and all that
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  you know relational building
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  and long term clients and all of that
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  we can't just throw that out and become transactional
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  this is the number one reason that agents fail
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  is it becomes so transactional
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  and I get it you have to put food on the table
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  but that's why multiple streams of income
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  and when the markets great to
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  you know finance your
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  your budget the right way
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  and understand that these times come
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  we are in a consumer driven market in real estate
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  and sometimes they're a little bit tougher than others
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  or you can look at your options
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  and understand that there are ways to
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  you know even out your income
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  no matter what the market is in your hyper local area
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  we'll talk about that a little bit in a in a second
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  but ask for the market what's the shift look like right
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  what are winning agents doing
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  agents are still closing deals
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  I see it on Facebook and Instagram
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  well
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  the truth is that those agents are still closing deals
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  they're probably not closing as many as you would think
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  they're just really good at
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  at social media and you know
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  capturing their day and all of it
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  but yes some agents are absolutely crushing it
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  and I will tell you that the market shift has been
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  you know somewhat slow
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  a slow burn here in my Denver market
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  but look stepping back and looking at it
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  and understanding exactly what's going on
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  what have we done to get in this situation
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  as real estate professionals
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  have we had those conversations with our clients right
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  so here's the deal focus on those relationships
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  even if they bought a house at the top of the market
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  and you know
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  it's come down a little bit or they're going through
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  you know something
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  a hard time financially or maybe a life change that
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  you know
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  could involve them putting a house on the market
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  that maybe they paid a little bit too much for
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  we need to have those conversations and be a resource
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  if we run and hide or we you know
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  avoid those conversations
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  we are doing our clients a disservice
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  and basically ruining that relationship that we did
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  most people understand that this is not your fault
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  it was a choice that you know
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  they made and if you educated them along the way
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  with the comps and all of that
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  they need you right now for guidance
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  how do we get out of this
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  what are our other options
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  and so turning a blind eye
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  you know giving them the cold shoulder
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  or just not reaching out when
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  you know they may be in a tough spot
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  is the No. 1 way to terminate that relationship
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  and we don't want to do that
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  we want to be a resource to our clients
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  in the good times and the bad
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  so No. 1 is
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  they're reaching out and they're staying a resource
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  regardless of the situation
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  and understanding that the market is not their fault
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  next they're owning a lane
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  they're staying in a lane
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  and they're focusing on that
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  they're focusing on nurturing that
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  the niches are absolutely there
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  also looking at the market
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  finding the winners in the market
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  what do we need to do to make sure that we're ready
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  right the next big real estate movement is this giant
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  generational wealth transfer
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  as a silver tsunami downsizes
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  and moves their wealth to the next generation
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  so what are we doing to prepare
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  these are people that are going to need resources
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  are you taking this time with business
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  a little bit slower to set up programs
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  get designations or education
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  and start to build relationships
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  with those industry partners
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  that might very well be in the thick of it
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  in the next you know
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  real estate boom so to speak
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  and that's something that we need to step back
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  and look at so yes
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  stay in your lane own that lane
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  but what lane are you gonna be in
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  in three to five years
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  who's gonna be winning in the market
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  in three to five years
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  are we able to set ourselves up for success now right
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  a lot of people did this on the REO train when
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  you know foreclosures came on and you know
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  they got ahead of it right
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  they were doing the things
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  they're building those relationships
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  even when there was one or two distress
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  sales in their market
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  because once that faucet turned on
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  those guys did thousands of deals
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  and so you have to look at those things
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  that might be coming up in your market
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  and educate yourself properly
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  and position yourself properly
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  so that's the next piece right
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  staying in contact being a resource
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  owning your lane that you're in currently
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  and staying in it
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  but also looking at what that lane change might be
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  as the market shifts
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  the next piece is proximity to mentorship
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  to accountability
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  this is something that's absolutely key
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  if you're surrounded by the negativity
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  and you're not trying to look at different
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  creative ways to grow that business
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  or to
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  solve the problems that your clients are currently
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  facing that's a problem
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  and it's hard when you go to the office
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  and everybody's super negative
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  find the positives that you can continue to work
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  do the work and be that resource as you go
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  but if it's all negative and that's the problem
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  proximity is power
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  and the people that you're surrounded with are likely
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  probably
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  the reason that you are in the situation you're in
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  if it's great you have great mentorship
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  great accountability great relationships
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  you're probably doing OK if you're
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  you know struggling
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  you're on an island you don't have that piece
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  it might be time to look at your surroundings
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  and change them if that's the case
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  I'm surrounded by thousands of wonderful agents
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  who look at the market
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  understand that we don't control what we don't control
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  and how are we gonna level up
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  how are we gonna move through this
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  how are we gonna come together as a community
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  and absolutely dominate as
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  you know we wanna do
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  so if that's you and you need a proximity change
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  let's reach out re agent wolfpack.com
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  we can talk about it
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  we can see if it's a good fit for you
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  no pressure no obligation
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  but I would love to have that conversation
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  and I know that if this is you that I'm talking to
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  or you're like Dang
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  it's like a graveyard in there
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  everybody's super negative
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  no one knows what to do we're talking about the market
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  we're playing the blame game
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  that's who I want to come alongside
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  and flip that script for you
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  absolutely and then the truth is yes
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  my sales are down certainly have some listings
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  are sitting on a little longer
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  have less under contract than I usually do
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  but I still do have some
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  and I'm blessed to have clients
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  you know
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  that are working through this market with me as well
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  and the reason that it's not a panic
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  why my kids are still going to be homeschooled and why
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  you know my wife's doing what she's doing
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  you know
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  helping out with the kids and managing our rentals
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  is exactly that residual income right
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  our rentals are still doing fine
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  people need places to live
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  that's a cash flow source that we absolutely have
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  due to being blessed with the lower interest rates and
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  you know managing our
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  our situations well
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  when we purchased and refinanced and so on
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  but also at EXP I have revenue share right
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  it doesn't matter what market agents are in
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  I have agents in 36 states and four countries
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  so yes
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  the market is a little bit different here than it is in
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  you know Pennsylvania or Turkey for that matter
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  or wherever else I have agents
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  and so the market is moving at different speeds
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  in different hyper local markets
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  allowing that revenue share to keep coming in at a
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  pretty lucrative rate
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  and so if you don't have those opportunities
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  and you don't have those partners who are out there and
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  you know maybe faster moving markets or whatever
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  this is something that
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  you are certainly tied to that market
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  in more ways than you even think
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  because as you know
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  I expand and I grow that business
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  there's certainly opportunities to kind
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  of shield yourself from these hyper
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  local market dips that we see
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  and understand
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  that every market is a little bit different
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  so transactions are still happening and so on
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  you know some
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  some agents in super affordable markets
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  are still closing deals when they close deals
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  they get a little bit of EXP's money
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  uh couldn't be better there
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  equity ownership in the company
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  if your company is publicly traded
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  how is that going right
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  well I know for me
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  it's definitely you know
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  a nest egg that's growing at a six figure
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  you know it's at a six figure right now
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  and who knows where it will go
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  but ultimately it's a nest egg
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  and that's something that
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  having ownership in the company that you work for
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  is super important as you go
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  so all of these different ways that I've set myself up
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  by picking what brokerage to be at
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  by holding on to rentals and taking that risk as
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  you know a landlord through the
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  maybe the tighter years before I was in real estate
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  when I was in education and my wife was in
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  you know education and all of those things
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  we had those rentals that was a little bit of a risk
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  yes we had tenants
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  we took care of them and
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  you know as we move through the different markets
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  and the changing markets
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  we upgraded them just like we do for our agents
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  we upgrade their experience
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  we try and add things as we go
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  and so we're managing these residual or
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  you know
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  other income streams as we go and it's not just
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  you know sit back
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  kick our feet up and get mailbox money
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  that's just not the case as the markets change
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  so does you know
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  the intensity in which you know the income comes in
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  and so we have to be understanding and
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  set ourselves up for success in the good times
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  because this is obviously a cyclical market right
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  and then find systems that scale right
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  if I'm able to take my current income and I'm able to
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  you know focus my energies in other areas
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  by delegating responsibilities
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  or bringing on listing coordinators
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  and things like that
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  that we're doing actually right now
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  then these systems are able to scale
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  you're able to pull back
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  you're able to play the CEO role more
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  but you have to have the opportunities
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  you have to have these other income streams
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  that aren't directly affected by your
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  hyper local market so if you're interested in that
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  you wanna set yourself up for the next market downshift
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  let's have a conversation no obligation no pressure
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  but I wanna I'm here to tell you that
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  setting yourself up with further investment properties
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  uh a different brokerage
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  that offers multiple streams of income
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  or anything in between
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  I'm here to help book a game plan
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  call with me
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  let's set you up maybe you're doing well right now
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  but you do see some writing on the wall
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  that things might change in your market
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  well let's have a conversation
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  because I want
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  more than anything to serve you as an agent
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  walk alongside you
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  and make these life changing moves right here
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  right now and if
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  you know a brokerage switch isn't in in your cards
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  there's no pressure right
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  that's not what it's about
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  it's about truly helping you
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  set up the life that you desire and deserve
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  for you and your family so let's have a conversation
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  I would love to help but if you're in that situation
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  you feel burned out you're surrounded by negativity
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  it's time to have a conversation
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  reach out zero pressure
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  like I said no recruiting
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  let's have a conversation
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  let's see what works for you
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  I can't wait to chat we'll see you next time