Latest / Massive Agent Podcast / Agents, Make This Pivot RIGHT NOW

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Agents, Make This Pivot RIGHT NOW · Massive Agent Podcast

• 0:00
  SPEAKER_00: On this episode, I'm going to share with you exactly the thing, the main thing that I'm telling all of my clients that I coached one-on-one, all the agents on my team, all the members of the society, every agent that I am personally connected to.
• 0:12
  SPEAKER_00: I'm screaming from a mountaintop that they need to change this one thing right now.
• 0:17
  SPEAKER_00: And I'm going to break it down for you.
• 0:19
  SPEAKER_00: Let's go.
• 0:20
  SPEAKER_01: The Massive Agent Podcast.
• 0:23
  SPEAKER_01: We lead generation tips and strategies to give you more leads and sell more homes.
• 0:28
  SPEAKER_00: I love to buy houses.
• 0:29
  SPEAKER_00: I like to sell houses.
• 0:31
  SPEAKER_01: It takes brass balls to sell it.
• 0:33
  SPEAKER_01: Wait a minute.
• 0:35
  SPEAKER_01: Leads a week.
• 0:37
  SPEAKER_01: I've had better and better.
• 0:39
  SPEAKER_01: Oh have I got your attention now?
• 0:42
  SPEAKER_01: Here's your host, Dustin Brome.
• 0:47
  SPEAKER_00: What is up, guys?
• 0:48
  SPEAKER_00: Welcome to episode 301 of the Massive Agent Podcast.
• 0:51
  SPEAKER_00: I'm your host, Dustin Brome in Salt Lake City, Utah.
• 0:55
  SPEAKER_00: Let's jump right into it because let's be honest.
• 0:59
  SPEAKER_00: It's getting serious right now.
• 1:02
  SPEAKER_00: Rates are creeping between 7 and 7.5%.
• 1:06
  SPEAKER_00: It is wildly unaffordable to buy a house if we're being honest.
• 1:10
  SPEAKER_00: So many people, so many people are being priced out of buying a house at all.
• 1:16
  SPEAKER_00: Or if they still can afford to buy a house, it's not even close to what they need.
• 1:21
  SPEAKER_00: So this is why so many homes are sitting on the market.
• 1:24
  SPEAKER_00: People don't know where they're going to go next.
• 1:27
  SPEAKER_00: Maybe they can't go anywhere next.
• 1:28
  SPEAKER_00: But here's the thing: some people are still buying and selling.
• 1:32
  SPEAKER_00: It's still happening.
• 1:34
  SPEAKER_00: There are solutions.
• 1:36
  SPEAKER_00: So I'm going to share with you exactly what the pivot that you need to make right now should be because I'm tired of hearing agents try to convince people that despite unaffordability, despite these seven, seven and a half percent rates, that they should just buy a house anyways.
• 1:54
  SPEAKER_00: Well, if you're doing that, I'm sorry, but you're just coming across as so tone-deaf.
• 1:59
  SPEAKER_00: You're losing credibility because you're you're in convince mode and sell mode rather than teach, educate, and guide mode.
• 2:07
  SPEAKER_00: So I'm gonna share with you exactly what I've been teaching all the agents that I coach with one-on-one, all the agents on my team, because there's a huge opportunity that's emerging right now with these rates that start with a seven.
• 2:20
  SPEAKER_00: And most agents aren't doing it.
• 2:22
  SPEAKER_00: And I'm gonna share with you exactly what you need to do.
• 2:24
  SPEAKER_00: This is gonna be a good one today.
• 2:25
  SPEAKER_00: Uh, before we get started, last week I was in Naples, Florida for BAM Camp.
• 2:30
  SPEAKER_00: BAM puts together uh they threw this.
• 2:34
  SPEAKER_00: This is the first event BAM's ever done, right?
• 2:36
  SPEAKER_00: This is a media company that started what a year and a few, what, a year and a few months ago, and they already did their first event with a hundred plus people.
• 2:44
  SPEAKER_00: It was sold out.
• 2:46
  SPEAKER_00: Incredible event.
• 2:48
  SPEAKER_00: And incredible because of the energy in the room.
• 2:51
  SPEAKER_00: Everyone that showed up was there to learn and have fun.
• 2:55
  SPEAKER_00: And just because of BAM and and you know, the whole uh like the spirit of the company, the spirit of all the BAM content from the top down, it's it's not pretentious, it's meant to be lighthearted and fun, but yet tactical and serious at the same time.
• 3:12
  SPEAKER_00: And that's exactly what the event was.
• 3:14
  SPEAKER_00: So I can't say enough about the BAM team.
• 3:16
  SPEAKER_00: If you were there, you know exactly what I'm talking about.
• 3:19
  SPEAKER_00: I've heard most agents that were there at BAM Camp say that this was, if not the best, one of the best top three for sure, conferences or events that they've ever gone to in their life.
• 3:31
  SPEAKER_00: And that is saying something.
• 3:32
  SPEAKER_00: I've been to some incredible events.
• 3:34
  SPEAKER_00: This was definitely up there for me.
• 3:36
  SPEAKER_00: And uh I just wanted to give a shout-out to BAM.
• 3:39
  SPEAKER_00: If you missed out on BAMCAP, you can still join the BAMX community and participate in this non-pretentious community of agents of all different uh of all different production levels and and expertise and and different places in their business and lives.
• 3:56
  SPEAKER_00: An incredible collaboration, an incredible mastermind called BAMX, and it includes a ton of great online courses.
• 4:01
  SPEAKER_00: You can join for as little as 10 bucks a month.
• 4:04
  SPEAKER_00: All you have to do is you use code MASSIVE at checkout to get 10% off and save yourself some money.
• 4:10
  SPEAKER_00: It's already cheap as shit at uh 10 bucks a month.
• 4:13
  SPEAKER_00: MassiveAgent Podcast.com slash BAMX, where you can find out more and get yourself the discount.
• 4:18
  SPEAKER_00: Remember to use code MASSIVE at checkout.
• 4:20
  SPEAKER_00: I'll see you in BAMX.
• 4:22
  SPEAKER_00: So, guys, I am extremely excited to share with you something that we haven't done for I think a couple years.
• 4:29
  SPEAKER_00: It might have been, yeah, I think two, two and a half years is the last time we did this.
• 4:33
  SPEAKER_00: And when we did, it was extremely popular.
• 4:36
  SPEAKER_00: Many like dozens and dozens of you took advantage of this as you should.
• 4:40
  SPEAKER_00: And um, and you've recently told me what an amazing deal it was.
• 4:44
  SPEAKER_00: So we're about to do this again.
• 4:46
  SPEAKER_00: My coaching group, the Massive Agent Society, we used to offer lifetime memberships, one payment, that's it.
• 4:54
  SPEAKER_00: Never pay anything ever again, no matter how much new stuff we bring to the group, no matter how many new courses we launch and all that stuff.
• 5:01
  SPEAKER_00: And so for the next week, okay, until October 5th, we are doing lifetime memberships once again.
• 5:09
  SPEAKER_00: Uh this is this is super exciting.
• 5:12
  SPEAKER_00: So it it's just it's one payment.
• 5:15
  SPEAKER_00: You you could do monthly if you if you need to, you could just you know be a monthly member, you could just join for a year if you'd like, but by far the most economical is one-time payment, lifetime membership, never pay anything ever again, and get everything we have, all the previous trainings we've done.
• 5:32
  SPEAKER_00: So for the last five years that we've had the trainings within our group, you're gonna get access to all of that training library and everything that comes after.
• 5:41
  SPEAKER_00: Uh, I'm super excited.
• 5:42
  SPEAKER_00: So to take advantage of that and to get the details, go to MassiveAgent Podcast.com slash lifetime.
• 5:49
  SPEAKER_00: Make sure you use that what that URL because you can't find this on the website.
• 5:54
  SPEAKER_00: We're only doing this for a week.
• 5:55
  SPEAKER_00: This is a special for one week.
• 5:57
  SPEAKER_00: You're not going to find the lifetime option on the website at all.
• 6:00
  SPEAKER_00: So you need to use the the URL, massive agentpodcast.com slash lifetime, and come join the what I believe is the most powerful, most well-rounded, most um impact-producing coaching group and community in real estate.
• 6:20
  SPEAKER_00: Because we don't just teach you tactics, which we do, and we have some amazing tactics and step by step, but we focus on growing you and your mindset and your belief and your thinking and you as a human being, because all the tactics in the world aren't going to mean shit if you don't believe that you're worthy of making seven figures a year, if you don't believe you're worthy of selling 80 homes a year, or whatever your goal is, or if you don't believe that you can one day build a business and get out of sales completely, and you just think you're gonna have to go through doing the same shit year after year after year, you you don't want to do that, but you think that's all you're capable of, then that's all you're gonna get, unless you reprogram your mind.
• 7:01
  SPEAKER_00: And we have the steps, we have the program, we have the solution to it.
• 7:06
  SPEAKER_00: Join the Massive Agent Society today with the new Lifetime membership.
• 7:10
  SPEAKER_00: Take advantage while it exists for the next week.
• 7:13
  SPEAKER_00: Massive Agent Podcast.com slash lifetime.
• 7:16
  SPEAKER_00: And next, with all of the craziness with these high interest rates and the Fed now saying that we're gonna be seeing higher rates for longer, which we're gonna be we're gonna be in this for a while, which is why I'm doing this episode today.
• 7:30
  SPEAKER_00: But there's so much that we need to know, like what's coming, what should we expect, and then how do we communicate that to our clients?
• 7:36
  SPEAKER_00: And keeping Current Matters breaks that down and gives that to us in in an easy to understand, easy to digest format.
• 7:44
  SPEAKER_00: And they're super cheap.
• 7:46
  SPEAKER_00: KCM is a tool that you need in your tool belt.
• 7:49
  SPEAKER_00: Try KCM.com slash BAM.
• 7:52
  SPEAKER_00: Go there right now and get a discount on the Keeping Current Matters platform because, like I said, you need that tool in your tool belt if you're serious about being an advisor and guiding people through this insanity that we're seeing.
• 8:06
  SPEAKER_00: Speaking of the insanity, let's talk about it.
• 8:09
  SPEAKER_00: I am look, I love that you're doing content about the importance of buying a house, the wisdom in buying property.
• 8:18
  SPEAKER_00: I I love that.
• 8:20
  SPEAKER_00: Uh and and it look, it's not that you're wrong, you're not wrong, but that's in a vacuum.
• 8:25
  SPEAKER_00: Okay, that's if rates are just, you know, if if we're in a three, four, even five percent interest rate environment, that shit's great.
• 8:33
  SPEAKER_00: Getting people who think, oh, they don't need to buy a house, they're totally cool renting, getting them off the fence and say, you know what, maybe I could, maybe I should, maybe it is in the cards for me.
• 8:43
  SPEAKER_00: That's great.
• 8:44
  SPEAKER_00: But we're not in that world anymore.
• 8:46
  SPEAKER_00: We're we are in a high interest rate environment.
• 8:49
  SPEAKER_00: Prices are still going up in most places.
• 8:52
  SPEAKER_00: Rates are starting with a frickin' seven, they're creeping around seven and a half percent.
• 8:57
  SPEAKER_00: They may go higher into the eights, and the the Federal Reserve has just indicated that we're going to be seeing and living with these high rates for longer.
• 9:07
  SPEAKER_00: These high rates are going to be here longer than expected.
• 9:10
  SPEAKER_00: So there's a shitload of people that cannot buy a house because it's so wildly unaffordable.
• 9:17
  SPEAKER_00: The prices and the rates, it's a double whammy.
• 9:20
  SPEAKER_00: So here's the thing right now, the number one thing you need to shift is your messaging rather than going after and trying to convince people that they should buy a house, they they should invest in real estate, that they should do this or that, which is trying to convince people or sell them on a concept.
• 9:36
  SPEAKER_00: And again, you're not wrong, but the timing is.
• 9:40
  SPEAKER_00: The timing is because you come across as tone deaf, you come across as a pushy douchebag agent that's just trying to sell houses.
• 9:48
  SPEAKER_00: For it and it's people who aren't agents, when they see those videos, even though they are factually accurate, I agree you should buy a house now versus later.
• 9:59
  SPEAKER_00: Look at the people who waited to buy, uh they didn't buy two years ago and they're trying to buy now.
• 10:04
  SPEAKER_00: They're fucked, right?
• 10:05
  SPEAKER_00: I get it, but they don't see it that way.
• 10:09
  SPEAKER_00: We need to be, as an industry, st shifting from teaching people that they should to speaking to the people that already know they should, they already want to, but they don't see a way how.
• 10:23
  SPEAKER_00: This is a big shift.
• 10:24
  SPEAKER_00: It's subtle, but it's huge.
• 10:26
  SPEAKER_00: Rather than convincing people that they should, we just need to show the people who already want to, already need to buy or sell, and have the desire that there is a possible way, that there is a solution to these high interest rates.
• 10:42
  SPEAKER_00: So if you change your messaging from convince and here's why you should, and trying to get people like who aren't even in the game to get into the game, no, you need to find people who are just sitting on the sidelines waiting to get into the game and teach them that there are solutions.
• 11:00
  SPEAKER_00: If you become the agent who has solutions, you're going to win.
• 11:05
  SPEAKER_00: Let me let me explain that a little further before I dive into exactly what you should be tell teaching these people.
• 11:10
  SPEAKER_00: Rather than trying to overcome the objection that it's wildly unaffordable, homes are so hard to buy now, so hard to afford, rather than trying to like tell people, yeah, but do it anyways, or or try to like downplay how unaffordable it is, downplay how expensive it is with the high interest rates, rather than trying to like overcome that objection, just agree with it.
• 11:37
  SPEAKER_00: Because if you're being honest, if you take off your realtor hat for a second and you you're just honest, you're like, holy shit, rates were 3% just a couple years ago, now they're seven and a half.
• 11:49
  SPEAKER_00: Holy fuck, and prices are even higher.
• 11:52
  SPEAKER_00: Yeah, that's pretty unaffordable.
• 11:54
  SPEAKER_00: Yeah, I can understand why a lot of people are frustrated.
• 11:56
  SPEAKER_00: Uh, yep, I can understand why people think that they'll never be able to buy a house.
• 12:01
  SPEAKER_00: So, or they they'll never be able to sell the place they're in and buy the next one.
• 12:06
  SPEAKER_00: There's they're locked in, they can't upgrade, they can't move, they can't upsize, they can't downsize.
• 12:12
  SPEAKER_00: There's this great lock-in that's happening.
• 12:16
  SPEAKER_00: Don't overcome the objection.
• 12:18
  SPEAKER_00: Agree with people.
• 12:20
  SPEAKER_00: Say this is what the spirit of every single piece of content that you put out there for the foreseeable future should be.
• 12:27
  SPEAKER_00: I understand rates are insane.
• 12:30
  SPEAKER_00: I understand it's wildly unaffordable, I understand prices have gone through the roof, and it might seem impossible.
• 12:36
  SPEAKER_00: However, I have a solution.
• 12:39
  SPEAKER_00: If you become the agent who understands and agrees that it is difficult, it is expensive, rates are through the fucking roof, yet you have a solution to make it less expensive and to make it more affordable, you're gonna be listened to.
• 12:56
  SPEAKER_00: You're you're not gonna be seen as this pushy agent douchebag.
• 12:59
  SPEAKER_00: You're gonna be seen as someone that, oh my God, they're gonna show me something I didn't know before, they're gonna show me how to get off the sidelines and into the game in a way that I didn't know was possible.
• 13:10
  SPEAKER_00: You need to become a solution provider rather than an objection overcomer.
• 13:14
  SPEAKER_00: Here's exactly what I mean by that.
• 13:17
  SPEAKER_00: The solutions I'm referring to are, for example, two-one buy downs, right?
• 13:22
  SPEAKER_00: Seller paid rate buy downs.
• 13:24
  SPEAKER_00: If you're unfamiliar with a two-one buy down, these these videos got super popular, but I haven't even seen them in a while, which is crazy.
• 13:31
  SPEAKER_00: But this concept is gold.
• 13:33
  SPEAKER_00: With certain lenders, right?
• 13:35
  SPEAKER_00: Make sure you check with your lender, get all the details, right?
• 13:37
  SPEAKER_00: You don't have to go into every single detail in a reel that you post on Instagram, for God's sakes.
• 13:42
  SPEAKER_00: You just have to explain the concept.
• 13:44
  SPEAKER_00: So you could have the seller pay down the interest rate for the buyer, if you're representing the buyer.
• 13:51
  SPEAKER_00: So instead of a seven and a half percent rate for the first year, they get it for 2% less, a 2-1 buy down.
• 13:57
  SPEAKER_00: The first year, 2% less.
• 13:59
  SPEAKER_00: So for the first 12 payments, they're going to have a 5.5% rate.
• 14:04
  SPEAKER_00: And then in the second year, it goes to 6.5, and then year three and beyond is the actual interest rate, seven and a half or whatever it is.
• 14:13
  SPEAKER_00: So you can explain if interest rates after the second year go down, they can refinance if they're still able and can still qualify to do so and all of that.
• 14:25
  SPEAKER_00: If they're able, they could re re uh re I almost said renegotiate.
• 14:29
  SPEAKER_00: They could refinance into the lower interest rate.
• 14:32
  SPEAKER_00: If rates have not gone down, then thank God they got locked in now, right?
• 14:37
  SPEAKER_00: So there's a solution.
• 14:39
  SPEAKER_00: They can still participate, they can still buy, but instead of 7.5%, it's five and a half for the first year, six and a half for the second year, and then seven and a half.
• 14:49
  SPEAKER_00: Two one buy down.
• 14:50
  SPEAKER_00: And there's other forms of seller-paid rate buy downs.
• 14:54
  SPEAKER_00: If you can't get the seller to pay it, the buyer can pay it.
• 14:57
  SPEAKER_00: But the concept that you can buy down the interest rate may make sense for a lot of buyers.
• 15:03
  SPEAKER_00: At a minimum, it's going to get their attention and get them thinking: holy crap, there's some tools out there, some strategies that I as a buyer don't know about.
• 15:12
  SPEAKER_00: I should probably contact this agent to get some more information to find out what I don't know.
• 15:17
  SPEAKER_00: Because they don't know what they don't know.
• 15:20
  SPEAKER_00: Teach them about the possibility, about the concept of buying down the interest rate.
• 15:27
  SPEAKER_00: It doesn't always make sense.
• 15:28
  SPEAKER_00: Sometimes it doesn't make financial sense to do so, but sometimes it does, especially if you can negotiate the seller paying the rate down for you.
• 15:37
  SPEAKER_00: So rate buy down's huge.
• 15:39
  SPEAKER_00: Teach people about that shit because the hook on that, or you know, the whole point of the video could be let me show you how to get a mortgage or let me show you how to buy a house for 2% less than everyone else.
• 15:50
  SPEAKER_00: That's gonna get people's attention.
• 15:52
  SPEAKER_00: Like, how can I get a rate for 2.5% less or sorry, 2% less than everyone else?
• 15:57
  SPEAKER_00: It's gonna get their attention and then they'll listen to you explain the concept.
• 16:01
  SPEAKER_00: Then there are there's seller financing, there's creative financing, there's subject to where you can just take over someone else's payments, for example, or you could take over their payments and pay them a little bit extra so that they make money and they can actually get out of the house.
• 16:16
  SPEAKER_00: Look, this shit is not illegal.
• 16:19
  SPEAKER_00: In most places, as long as you structure it correctly, it's not illegal.
• 16:23
  SPEAKER_00: It's it's completely doable.
• 16:25
  SPEAKER_00: Go back to the episode we did with Cody Sperber about agents buying a rental properties.
• 16:32
  SPEAKER_00: Uh, I'm gonna try to find the exact title here.
• 16:35
  SPEAKER_00: So June 1st of 2023, how agents can build a rental portfolio this year with Cody Sperber, the clever investor.
• 16:42
  SPEAKER_00: This guy's one of the creative finance uh kings of real estate, him and Pace Morby.
• 16:48
  SPEAKER_00: Go watch Pace Morby on YouTube, Pace Morby on Instagram, clever investor on Instagram, and learn about creative financing, seller financing, taking over payments.
• 16:59
  SPEAKER_00: The reason that I bring this up is you're we have all these sellers that have a two, three, maybe four percent interest rate that aren't selling because in their mind they're like, if I sell, I'm gonna have to then get a 7.5% rate on the place we buy.
• 17:13
  SPEAKER_00: That doesn't make sense.
• 17:15
  SPEAKER_00: So they just stay.
• 17:16
  SPEAKER_00: They're just holding on to the house.
• 17:18
  SPEAKER_00: They want to move, they want to relocate, they want to upsize, they want to upgrade, but it they don't think it makes sense.
• 17:25
  SPEAKER_00: Especially those that bought in the last year or so.
• 17:28
  SPEAKER_00: If you bought in the last year or so, you can't sell it now and make money for the most part.
• 17:34
  SPEAKER_00: Maybe in some instances you can.
• 17:37
  SPEAKER_00: But if people who just recently bought now feel trapped, well, what if there's a way where they could just have someone take over their payments, which would free them up to go and buy something else?
• 17:50
  SPEAKER_00: It doesn't always work.
• 17:51
  SPEAKER_00: There's obviously variables, but the concept needs to be shared and taught with consumers.
• 17:57
  SPEAKER_00: And if you are the solution provider and you bring these new fresh ideas to homeowners that don't know this stuff, and you share, hey, there's actually other options out there using creative financing that will let you get out of this house, no longer be responsible for the payments, transfer it over to this new buyer, well, freeing you up to go buy something else and live somewhere else.
• 18:21
  SPEAKER_00: You gotta learn about this shit.
• 18:22
  SPEAKER_00: Okay, it it's it's complicated, but yet it's not.
• 18:26
  SPEAKER_00: We overcomplicate it.
• 18:28
  SPEAKER_00: But if you are thinking that the only way that people can buy real estate is if they go get a traditional mortgage with a down payment and qualify with their credit score and have you know show all their pay stubs and all that bullshit, you're wrong.
• 18:40
  SPEAKER_00: You're just wrong.
• 18:42
  SPEAKER_00: The first house that I ever bought that my wife and I bought, we bought seller financing.
• 18:48
  SPEAKER_00: We took over, we didn't directly take over the payments, but we we basically paid the seller a certain amount each month to an escrow company.
• 18:56
  SPEAKER_00: The escrow company paid the seller a little bit, she made a little extra.
• 19:00
  SPEAKER_00: So the escrow company paid the seller her amount.
• 19:03
  SPEAKER_00: Let's say it was, I mean, well, our payment was super freaking low.
• 19:07
  SPEAKER_00: Let's say it was$1,500, then the mortgage payment was$1,300.
• 19:12
  SPEAKER_00: So then the escrow company paid the$1,300 directly to the mortgage company.
• 19:16
  SPEAKER_00: Mortgage company gets paid, the seller got an extra$200 a month, she's happy as a clam, she's making a little extra money, that payment is off of her books, and she went and qualified to buy the next house, which she did.
• 19:28
  SPEAKER_00: Amazing.
• 19:28
  SPEAKER_00: We held on to that house for seven years, sold it for you know over 500k, and we were able to get in the house we're in today.
• 19:36
  SPEAKER_00: If it wasn't for seller financing, we wouldn't have been able to do it because at that time, seven or eight years ago, I couldn't qualify for a mortgage yet.
• 19:47
  SPEAKER_00: These tools exist, guys.
• 19:49
  SPEAKER_00: They're real.
• 19:50
  SPEAKER_00: I don't care what your old ass, crusty ass broker tells you, this shit is possible.
• 19:56
  SPEAKER_00: It is not illegal as long as you do it correctly, and you just have to learn something you don't know yet.
• 20:03
  SPEAKER_00: So creative finance, seller financing, these are options.
• 20:06
  SPEAKER_00: And the next solution that you should absolutely be teaching buyers and sellers right now is the concept of house hacking.
• 20:13
  SPEAKER_00: If you hear this and you're like, well, yeah, house hacking, everyone knows that.
• 20:16
  SPEAKER_00: No, they don't.
• 20:17
  SPEAKER_00: No, they don't.
• 20:19
  SPEAKER_00: Not everyone knows what house hacking is.
• 20:21
  SPEAKER_00: The problem, one of the biggest problems with you, with real estate agents, is that you think everyone knows what you know.
• 20:30
  SPEAKER_00: Well, newsflash, if everyone knew what you knew, why the fuck would they need to hire you?
• 20:36
  SPEAKER_00: What would they need you for if they knew everything you know?
• 20:39
  SPEAKER_00: They're they're hiring you for your expertise, right?
• 20:43
  SPEAKER_00: Not just to like open doors on their behalf.
• 20:46
  SPEAKER_00: Anyone can open a frickin' door.
• 20:47
  SPEAKER_00: If you believe that your value is in your expertise, then for God's sakes, act like it.
• 20:53
  SPEAKER_00: So the concept of house hacking, which to sum it up, is buying a property, renting out a portion of it to help cover all or some of your mortgage payment.
• 21:03
  SPEAKER_00: Most commonly, people will buy a duplex, rent out one side, and the rental income from that one side helps to pay the mortgage payment.
• 21:13
  SPEAKER_00: For example, one of our agents, Shane in New Hampshire, he's helping someone right now do this who's about to be living mortgage free.
• 21:21
  SPEAKER_00: They're buying a house mortgage free.
• 21:24
  SPEAKER_00: Now that's net.
• 21:25
  SPEAKER_00: Okay.
• 21:25
  SPEAKER_00: They they have a mortgage.
• 21:26
  SPEAKER_00: Let's say it's$2,000 a month.
• 21:29
  SPEAKER_00: They're buying a duplex that's going to be$2,000 a month.
• 21:31
  SPEAKER_00: They're going to be able to rent one side of the duplex for$2,000, which means that rent covers their mortgage payment.
• 21:38
  SPEAKER_00: They are living for free and gaining equity and appreciation in the property and all of that stuff because the rental income from one side of the duplex is paying the mortgage.
• 21:49
  SPEAKER_00: That's not always possible.
• 21:51
  SPEAKER_00: Sometimes if your mortgage payment is$2,000 and you can get$900 from the other unit, okay, well, now your mortgage mortgage payments only.
• 22:00
  SPEAKER_00: $1,100.
• 22:01
  SPEAKER_00: How amazing is that?
• 22:02
  SPEAKER_00: So you can teach people how to get their mortgage cut in half, how to buy a house, how to buy a property with half a mortgage payment.
• 22:14
  SPEAKER_00: Incredible concept.
• 22:15
  SPEAKER_00: It doesn't have to be a duplex.
• 22:17
  SPEAKER_00: It could be a house with a basement apartment with a walkout entrance.
• 22:21
  SPEAKER_00: It could be a house with a mother-in-law apartment, a house with an ADU on the property, or a house that you put an ADU on the property.
• 22:30
  SPEAKER_00: Any of these things, any portion of your property that you can rent out helps bring down how much it costs you to live there.
• 22:39
  SPEAKER_00: Why aren't you teaching people that?
• 22:41
  SPEAKER_00: That is a solution to unaffordable housing.
• 22:44
  SPEAKER_00: It's making it more affordable when you can have someone else paying for a portion of your mortgage payment.
• 22:50
  SPEAKER_00: Teach people how to house hack.
• 22:54
  SPEAKER_00: I the first place my wife and I lived before we bought our house, seller financing, we lived in an apartment, this little studio apartment in Daybreak in South Jordan, Utah.
• 23:04
  SPEAKER_00: You guys in Utah know about Daybreak.
• 23:07
  SPEAKER_00: We lived in this base, sorry, sorry, a studio apartment above someone's garage.
• 23:13
  SPEAKER_00: It had its own entrance.
• 23:14
  SPEAKER_00: It was just above their detached garage.
• 23:17
  SPEAKER_00: And we lived there for a year or two.
• 23:20
  SPEAKER_00: I don't think it was two, but we lived there for a while, and it was amazing.
• 23:23
  SPEAKER_00: But that rent that we were paying, I think it was seven or eight hundred bucks a month, that helped the seller, you know, their cost of living in that property was less.
• 23:32
  SPEAKER_00: There's a lot of properties with rentable basements, rentable mother-in-law's, uh, accessory dwelling units, right?
• 23:38
  SPEAKER_00: ADUs, or the ability to put an ADU on a property.
• 23:44
  SPEAKER_00: You have to think outside the box and think creatively, because otherwise, you're just like every other realtor who's saying, You want to buy a house?
• 23:52
  SPEAKER_00: Okay, go get a mortgage and qualify with your credit score, and you better have a down payment.
• 23:58
  SPEAKER_00: That's one way, that's the traditional way, but you know that's not the only way.
• 24:03
  SPEAKER_00: So why are you acting like it's the only way?
• 24:07
  SPEAKER_00: When you become the agent that has actual creative solutions to unaffordable unaffordable housing and high interest rates, you will be seen as an advisor, you'll be trusted, you'll be credible, people will actually listen to you, they'll actually want to talk to you, they'll actually reach out and ask for more information about the concepts you're you're talking about, and you will get more business.
• 24:31
  SPEAKER_00: You have a chance right now, because of high interest rates, because of the unaffordability, to have the best year of your life, to thrive like you've never thrived before.
• 24:43
  SPEAKER_00: But you have to change your approach.
• 24:45
  SPEAKER_00: Just saying, I do what everyone else does, I'm gonna put you into the box that everyone else does, go get a traditional mortgage or else you're shit out of luck.
• 24:54
  SPEAKER_00: You're fighting an uphill battle.
• 24:56
  SPEAKER_00: Stand out for once, carve your own path, a path that's actually helpful to buyers and sellers and property owners, and bring solutions.
• 25:06
  SPEAKER_00: Stop trying to fight them, stop trying to overcome their objections.
• 25:10
  SPEAKER_00: Agree, it's wildly unaffordable.
• 25:13
  SPEAKER_00: I agree interest rates are insanely high right now.
• 25:16
  SPEAKER_00: It's super unaffordable.
• 25:17
  SPEAKER_00: However, I have some solutions for you.
• 25:20
  SPEAKER_00: I have some options, I have I have a way to make that mortgage payment much less.
• 25:25
  SPEAKER_00: I have a way for you to still accomplish the thing, but do it for much less money.
• 25:31
  SPEAKER_00: That is a winning strategy.
• 25:32
  SPEAKER_00: If you focus on that, change your approach, and keep doing it day after day after day, in all of your content, in all of your videos, in all of your emails, in all of your interactions, and you just become the solution provider to unaffordability, you're going to thrive like you never have before.
• 25:50
  SPEAKER_00: But if you keep doing the same old tired bullshit, the same old here's why you should buy a house, and like you're just ignoring 7.5% interest rates, you're ignoring these ridiculous prices and uh and the economy, like everyone's expenses are going up.
• 26:08
  SPEAKER_00: So it's even though they their ability to buy a house keeps getting less and less, and not just because of mortgage rates, the cost of living, inflation of food and energy and cars and everything is eating away at their spending power.
• 26:27
  SPEAKER_00: Bring solutions and you will thrive as an agent like never before.
• 26:31
  SPEAKER_00: Just a reminder: make sure that you take advantage of this one week only opportunity to get a lifetime, one payment only membership to the Massive Agent Society.
• 26:41
  SPEAKER_00: One payment, that's it forever.
• 26:43
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• 26:53
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• 26:55
  SPEAKER_00: We used it's been like I said before, I think it's been two years or more since we've done these lifetime memberships, and they were wildly popular, and we're doing them again for the next week.
• 27:04
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• 27:13
  SPEAKER_00: Let me let me uh delete that.
• 27:19
  SPEAKER_00: Make sure you grab yours today by October 5th.
• 27:23
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• 27:24
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• 27:26
  SPEAKER_00: Massive agent podcast.com slash lifetime is where you take advantage.
• 27:31
  SPEAKER_00: Become a massive agent society member for life.
• 27:34
  SPEAKER_00: One time payment.
• 27:36
  SPEAKER_00: I'm excited.
• 27:37
  SPEAKER_00: I'm excited for you guys to take advantage because it was crazy popular when we used to do them.
• 27:42
  SPEAKER_00: Um, and for the next week, they're back.
• 27:44
  SPEAKER_00: MassiveAgent Podcast.com slash lifetime.
• 27:47
  SPEAKER_00: I'm excited to see you in the society.
• 27:49
  SPEAKER_00: If you've been sitting on the fence, if you've been waiting for the right time, this is it.
• 27:53
  SPEAKER_00: Thank you so much for listening.
• 27:54
  SPEAKER_00: If you if this episode resonated with you, share it with another agent, share it with your broker, share it with your team, share it with your brokerage within your Facebook group or your workplace group or whatever you have.
• 28:06
  SPEAKER_00: But this message needs to get out there.
• 28:09
  SPEAKER_00: The the few agents that decide to make this pivot and to make this shift will thrive like never before.
• 28:16
  SPEAKER_00: Super excited to see what you guys do with this and to see the impact that you're able to make on communities and on families by showing them solutions for once.
• 28:29
  SPEAKER_00: This is what this is what the world needs.
• 28:31
  SPEAKER_00: This is what our country needs.
• 28:33
  SPEAKER_00: This is what the market needs.
• 28:34
  SPEAKER_00: This is what you need.
• 28:36
  SPEAKER_00: I'm excited to watch it.
• 28:37
  SPEAKER_00: Thank you for listening.
• 28:38
  SPEAKER_00: Thanks for supporting us.
• 28:39
  SPEAKER_00: Take care.