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- Thad: So I think one of the things Elliott does the best is provide rental projections. We're trying to provide honest rental projections that are based on actual numbers from properties we have. So we're not pulling them out of thin air, not just taking a guess at what we think. Grayson: So I think one of the things Elliott does the best is provide rental projections. We're trying to provide honest rental projections that are based on actual numbers from properties we have. So we're not pulling them out of thin air, not just taking a guess at what we think. Thad: Hello everyone and welcome to our interview series. Today we have Grayson Graham here on the new business team. He's been a veteran in this company for quite some time now. I'm gonna let him go ahead Grayson: Hello everyone and welcome to our interview series. Today we have Grayson Graham here on the new business team. He's been a veteran in this company for quite some time now. I'm gonna let him go ahead and give a quick background on what he's done for the last probably four years now. Yep. Yep. So I'm going on four Thad: and give a quick background on what he's done for the last probably four years now. Yep, so I'm going on four Grayson: years with Elliot Beach Rentals. I've worked in the same department the whole time I've been here, which has been new business. so Thad: years with Elliott Beach Rentals. I've worked in the same department the whole time I've been here, which has been new business. so Grayson: I'm one of the primary resources to help onboarding with Thad: one of the primary resources to help onboarding with homeowners who are looking to possibly join the rental program here at Elliott. Grayson: Homeowners who are looking to possibly join the rental program here at Elliott. Thad: Alright, great. So we're gonna dive right in right now and kind of try to give a little bit of a idea on what to expect when you're talking to Grayson or if you're an owner out there, kinda some strategies that you should think about putting into work when you are engaging somebody like Grayson. So Grayson, let's just say I'm a new owner, right? I'm thinking about renting my vacation my my house out for a vacation rental company. Grayson: Give a little bit of an idea on what to expect when you're talking to Grayson, or if you're an owner out there, kind of some strategies that you should think about putting into work when you are engaging somebody like Grayson. So, Grayson, let's just say I'm a new owner, right? I'm thinking about running my vacation, my my house out for a vacation rental company. How would you recommend that I approach you? Or let's just say, like, hey Grayson, I'm interested in in renting out. Thad: How would you recommend that I approach you or let's just say like, hey Grayson, I'm interested in in running out. tell me about what you offer. So Grayson: Tell me about what you offer. So one of the first things we want to do is we want to get eyes on the property. So if you came to me and said, hey, I've got a four-bedroom channel house in Cherry Grove, we really want to be able to get to the property to to see what shape it's in, if it's rent ready, if we have any recommendations. So that's the first step is getting eyes on the property. We can discuss how things work, but we really want to be able to see it. Thad: one of the first things we want to do is we want to get eyes on the property. So if you came to me and said, Hey, I've got a four bedroom channel house in Cherry Grove, we really want to be able to get to the property to to see what shape it's in, if it's rent ready, if we have any recommendations. So that's the first step is getting eyes on the property. We can discuss how things work, but we really want to be able to see it. Grayson: we want to make sure we are on the same page with expectations, how much money you need to make, how much you want to make. Thad: We want make sure we are on the same page with expectations, how much money you need to make, how much you want to make, and see if those are aligned with what we can provide for you. So most homeowners are very revenue driven. They're looking to see how much money they can make, and that's going to be this deciding factor on if they want to join a program or not. Because if it doesn't make sense, they may just keep it for family use. But if they're really trying to maximize their revenue, not using it much, then we may be the right fit. So we really want to get our eyes on the property center. Grayson: And see if those are aligned with what we can provide for you. so most homeowners are very revenue driven. They're looking to see how much money they can make, and that's gonna be this deciding factor on if they want to join a program or not. Because if it doesn't make sense, they may just keep it for family use. But if they're really trying to maximize their revenue, not using it much, then we may be the right fit. So we really want to get our eyes on the property, set Thad: Set expectations and then kind of proceed with how we what we can offer here to Elliott Yeah. Grayson: expectations, and then kind of proceed with how we what we can offer here at Elliott. So I think Thad: So I think Grayson: one of the things Elliott does the best is provide rental projections. We're trying to provide honest rental projections that are based on actual numbers from properties we have. So we're not pulling them out of thin air, not just taking a guess at what we think. We're looking at a comparable property to the one you're bringing over to us. Thad: one of the things Elliott does the best is provide rental projections. We're trying to provide honest rental projections that are based on actual numbers from properties we have. So we're not pulling them out of thin air, not just taking a guess at what we think. We're looking at a comparable property to the one you're bringing over to us and trying to give you an expectation that Grayson: And trying to give you an expectation that can Thad: can Grayson: be met because the last thing I want to do is give you a crazy high revenue projection and we can't meet that. And then in six months a year, you say, Hey Grayson, you know, you told me I'd get to this revenue number here, and I'm nowhere close to it. So I think honesty and revenue projections is the most important thing. Yeah. Thad: be met because the last thing I want to do is give you a crazy high revenue projection and we can't meet that and then in six months a year you say hey Grayson you know you told me I'd get to this revenue number here and I'm nowhere close to it. So I think honesty and revenue projections is the most important thing. Yeah. So why do you think Elliott has an advantage or why do you think they're the best when it comes to being Grayson: So why do you think Elliot has an advantage or why do you think they're the best when it comes to Thad: able to provide rental projections. Because the amount of properties we have that we can use as comparatives. So if it's a house Grayson: Because of the amount of properties we have that we can use as comparables. So if it's a house on the channel, Thad: on the channel Grayson: we've got quite a few houses on channels. If it's a condo in a condo building, we've got at least one condo in probably every building in the Grand Strand. So I think the number of properties we have with actual numbers is a huge benefit because a lot of these other companies that might just have a few properties, they don't have years and years of actual data to go by. That makes sense. It seems like the more actual properties you have on your rental program to be able to Thad: We've got quite a few houses on channels. If it's a condo in a condo building, we've got at least one condo in probably every building in the Grand Shrand. So I think the number of properties we have with actual numbers is a huge benefit because a lot of these other companies that might just have a few properties, they don't have years and years of actual data to go by. That makes sense. It seems like the more actual properties you have on your rental program to c be able to compare gives you a really good indicator of what that owner could expect. Correct? Great. Grayson: gives you a really good indicator of what that owner could expect. Yeah. Great. Thad: So now let's just say another owner, another situation here. We're Grayson: So now let's just say another owner had another situation where Thad: having We have multiple companies in the mix, right? They're shopping around. What do you think an owner, if you were an owner, what kind of questions would you tell them to ask so that they could make sure that they're finding a company that not only like fits their vision or Grayson: We have multiple companies in the mix, right? They're shopping around. What do you think an owner, if you were an owner, what kind of questions would you tell them to ask so that they can make sure that they're finding a company that not only like fits their vision or something that they're looking they need to make sure they're aligned with? So I Thad: Something that they're looking they need to make sure they're aligned with. So I Grayson: think it is every homeowner's different. You know, you need to make sure that the projections they're providing are legitimate. Thad: think it is every homeowner's different. You know, you need to make sure that the projections they're providing are legitimate. And maybe you could say, hey, can you provide me with some comparable properties so I can see actual numbers? You want to go over commission to make sure you're comfortable with the commission, how much you're paying. Do you think this company brings enough to the table to offer the commission that you know, to accept the commission they're offering? the communication, you want to make sure I think it's very important to do. Grayson: And maybe you could say, hey, can you provide me with some comparable properties so I can see actual numbers? You want to go over commission to make sure you're comfortable with the commission, how much you're paying. Do you think this company brings enough to the table to offer the commission that, you know, to accept the commission they're offering? the communication, you want to make sure I think it's very important to be Thad: be Grayson: local. You want to have boots on the ground. When you call in somewhere, you don't want have someone that's at a call center. You want them to be here where they they know where your property is. Thad: local. You don't have boots on the ground. When you call in somewhere, you don't want to have someone that's at a call center. You want them to be here where they they know where your property is. It makes a huge difference. So I think communication, the commission you're paying, and the potential revenue are three very important questions and that you need to get clarification on. Grayson: it makes a huge difference. So I think communication, the commission you're paying, and the potential revenue are three very important questions and that you need to get clarification on. Yeah. So let's talk about commission a little bit. Now I know you can't go into details Thad: Yeah. So let's talk about commission a little bit. Now I know you can't go into details about like what we provide, but when it comes to commission, right, are all commissions the same when it comes to either like you know self Grayson: to commission right are all commissions the same when it comes to either like you know self Thad: managers versus on site versus off site. Tell us how those differ. No, they're they're not the same. a lot of times you'll see where on site companies are a little bit higher commission because they will be able to use that to their advantage saying hey we're on site, we're right here. and it differs with OTAs, the third like Airbnb, V RBO. And with us it differs. So yes, every company's gonna have a different commission, whether they're on site, third party, Grayson: No, they're they're not the same. a lot of times you'll see where on site companies are a little bit higher commissioned, because they will be able to use that to their advantage saying, Hey, we're on site, we're right here. and it differs with OTAs, the third like Airbnb, V RBO, and with us it differs. So yes, every company's gonna have a different commission, whether they're on site, third party. so yes, commissions are something that's always topic of discussion and it needs to be. Thad: So yes, commissions are something that's always a topic of discussion and it needs to be, to make sure you understand what commission you're gonna be paying and make sure it makes sense from a revenue standpoint because your gross and net income are two very, very different things. Grayson: to make sure you understand what commission you're gonna be paying and make sure it makes sense from a revenue standpoint because your gross and net income are two very, very different things. Mm-hmm. Yeah, especially when it comes to I mean, like self managers compared to on site, right? We I've had some conversations Thad: Mm-hmm. Yeah, especially when it comes to I mean like self managers compared to on site, right? We I've had some conversations in the past where people are like, Man, like we do twenty thousand dollars more a year than what you guys are projecting right now. Right? And You've probably had those conversations too. And th the d the big difference a as an owner is to make sure that you can understand what that rental projection actually means, how much money you're Grayson: You've probably had those conversations too and the the the big difference as an owner is to make sure that you can understand what that rental projection actually means, how much money Thad: actually putting in your pocket at the end of it, because if you're you know if you're just after high revenue, you may be missing out on I'm sorry, if you're just after high gross revenue, you may be missing out on that revenue just because you're focused on the wrong metric. And that's very important too, and you and I talk about it all the time, is anytime you get a projection, you wanna make sure they've got all those fees taken off. Grayson: you're you know if you're just after high revenue you may be missing out on I'm sorry if you're just after high gross revenue you may be missing out on that revenue just because you're focused on the wrong metric. And that's very important too and you and I talk about it all the time is anytime you get a projection you want to make sure they've got all those fees taken off Thad: Because fees are can make a projection be way higher. What's an example of some of those fees? Grayson: because fees are can make a projection be way higher. so here's an example of some of those fees. So, I mean, they might have cleaning fees, they might have credit card fees, they might have any type of service fee that's built into that number to make it appear higher, but at the end of the day, it's really not. So with Elliott, we're stripping out all of those fees to make sure when we're giving you a number, it is the base number that you can just pull your commission off of to see exactly what you'd be putting in your. Thad: So I mean they might have cleaning fees, they might have credit card fees, they might have any type service fee that's built into that number to make it appear higher, but at the end of the day, it's really not. So with Elliott, we're stripping out all of those fees to make sure when we're giving you a number it is the base number that you can just pull your commission off of to see exactly what you'd be putting in your pocket. Now we always like to end these quick segments with a little bit of how you can get in touch with Grayson. Grayson, so what would be the best way if an owner or a realtor even 'cause realtors we can provide rental projections too as well, what would be the best way for someone to get in contact with you and learn more about Elliott Beach Rentals or even just getting a rental projection? Grayson: We always like to end these quick segments with a little bit of how you can get in touch with Grayson. Grayson, so what would be the best way if an owner or a realtor, even because realtors, we can provide rental projections too as well. What would be the best way for someone to get in contact with you and learn more about Elliott Beach rentals or even just getting a rental projection? So we have several satellite offices. So I think it's important to specify I'm in the Windy Hill office, which is seven six forty eighth Avenue South North Myrtle Beach. My phone number is 8 4 3 2 4 9 Thad: We have several satellite offices, so I think it's important to specify I'm in the Wendy Hill office, which is seven six forty eighth Avenue South North Myrtle Beach. My phone number is 8 4 3 2 4 9 1 4 0 6 extension 3 7 4 And my email is grayson.graham@elliottbeachrentals.com G R A Y S O N dot Graham G R A H AM Grayson: one four zero six extension three seven four and my email is Grayson G R A Y S O N dot Gram G R A H A at Elliot two L's and two Ts Realty dot com. Awesome. Well thanks for doing this interview today and we look forward to seeing you guys next week. Thank Thad: at Elliott Two L's and Two Ts, Realty dot com. Awesome. Well, thanks for doing this interview today and we look forward to seeing you guys next week. Like Thad Grayson: you, Thad. Thad: Yes sir.