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Bison Bravery in Real Estate: Storming Ahead in Buyer Prospecting · The Real Estate Agent Playbook

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  You may or may not know that the American bison is one of the only animals that
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  in the great, you know, stress of life runs into the storm instead of avoiding
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  the storm or running away from it.
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  And I think there's a lot of real estate agents running away from the storm
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  that is known as the buyer agency.
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  With the commission lawsuits, with the high interest rates and all the things.
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  And I'm going to tell you right now, while I am going to be a bison in the coming
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  year, double down on my buyer prospecting.
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  I'm going to tell you why, I'm going to tell you what it looks like, I'm going
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  to talk a little bit about the commission lawsuits, and we're going to dive in.
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  What's up guys, Jeremy Kane, eXp Realty and the Real Estate Agent Playbook.
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  Thank you so much for joining me.
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  I'm going to dive into this strategy because I think it's something that
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  is opportunity and I want to bring all these agents and everybody who
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  wants to work their tail off to have the best next year possible.
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  Whether that's 2024, you're watching on a recording or listening
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  to podcasts, let's go, right?
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  I want to provide as much value as I possibly can to you and some mindset
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  stuff that may change your perspective.
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  On your coming year in real estate.
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  So let's get into it.
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  All right So first and foremost, we need to understand the bison mentality
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  and the truth is the bison do run to the storm In hopes that they're going
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  to get to the other side quicker than either standing in the storm running
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  away from the storm or Taking themselves off course to avoid the storm And
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  so that's exactly what I want to do.
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  And as you can see, you know, I have my My bison logo hat.
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  You can definitely find these on andyforsilla.
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  com and you can look into all of his personal excellence and all of that stuff.
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  That's not what this is about, but the bison did give me the idea for the video.
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  So I decided to support the hat.
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  So we're gonna, we're gonna talk about this and with the commission lawsuit
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  and the changing, you know, the massive numbers that they're throwing out and
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  all this stuff and the industry will never be the same and everything.
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  Well, the truth is not much has changed yet.
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  Right.
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  And so I still see 95 percent of, you know, the agents offering a buyer agency
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  co op in the MLS, and so not much has changed, at least in my market, I did
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  talk to somebody the other day in Florida and they said that, or I think it was
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  New Jersey actually, and they said that it had been changed a little bit, but
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  it still wasn't, you know, full on.
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  And so certainly, right, if your market is absolutely changed and there's
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  zeros every time a buyer agency kind of comes up, then we might have to
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  change our mindset a little bit.
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  But I'm also of the mindset that until things change, I'm
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  going to go business as usual.
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  And if everybody's running away from a certain, you know, buyer or, you know,
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  a certain thing, I'm going to run to it like the bison would because if other
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  people are trying to avoid it, that just allows market share to come up.
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  And here's my thought in most markets, it hasn't changed drastically.
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  So we may have, you know, a year or two, five years, whatever it is.
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  But if people are starting to pull away and say, Oh, I need to focus on listings.
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  Well, I'm, I'm here to tell you that I've been in real estate for
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  10 years and since year one, people have been saying list or die, right?
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  Every time you talk to an ad agency, they're like, Oh yeah,
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  we're going to start with buyer leads, but we have seller leads too.
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  And those seller leads never, you know, come to fruition.
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  Getting seller leads has always been everyone's focus
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  in the real estate industry.
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  And so if you're a new agent and you didn't know that.
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  You're just going into a really competitive, you know, melting pot,
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  which I'm not saying you can't win and you can't do that, but it's nothing
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  new that we all would love listing.
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  So let's talk a little bit about that.
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  So if more people are, you know, pushing away buyers and whatever, they're a
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  little worried about their business.
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  Well, I'm going to build up as many buyer leads as I can over the next 12,
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  24, 48 months, whatever it is until we actually do see massive change in this.
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  And I'm going to continue to have the conversations that the conversations
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  of compensation and all of that, but if it's business as usual on the
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  MLS and the co ops are still there.
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  Well, I'm going to just collect all these buyers and I'm going to have a ton of
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  buyers and it's going to be a lot easier if it did change forever for me to have
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  as many listing leads as I need because those buyers are actually the people that
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  I convert to listing leads down the road.
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  And so that's, you know, my first mindset is get through the storm,
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  get through it as fast as possible, collect all the friends and all the
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  people you can while you're in it.
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  And then, you know, provide value.
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  I'm also dialing in my value proposition and this is huge, right?
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  And, you know, say for instance, I do get caught up, right?
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  Cause you could say, well, what happens if you get stuck with a,
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  you know, low to no commission?
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  Well, I'm gonna have a conversation with my buyers and we're going
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  to, you know, negotiate and say, Hey, what can you afford?
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  What do you think I'm worth?
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  And so on.
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  And so I'm going to get used to having those harder conversations
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  if it does come to fruition.
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  But if I'm running away from buyers and I'm.
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  I'm leaving that.
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  I'm telling you right now that buyer agency is not going away.
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  We just need to get better at having the conversations and
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  developing what's going on.
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  So I'm going to develop the skills to have the conversations and then I'm
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  going to dial in the value, right?
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  And the honest truth is I'm at a point in my career that if somebody
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  says, Hey, that's my, you know, like.
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  I'm a first time home buyer.
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  I'm just trying to get in this home.
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  Like, I can give you a thousand bucks if the seller won't do it.
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  And our contracts in Colorado are set up a little bit differently, so we
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  do have the right to, you know, if the buyer is obligated to pay, we can
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  insert that into the contract by itself.
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  I know in other states you have, you know, that upfront
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  commission form and all of that.
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  We don't have that in Colorado.
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  But we can negotiate it into the contract.
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  And so, we're going to try.
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  And if the answer is no, At the end of the day, right, then
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  I'm going to say, okay, Mr.
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  Buyer, what can you pay me?
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  Like, what's fair?
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  What do you think I'm worth?
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  You know, and, and take that into consideration.
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  And if they say 500 bucks, thousand bucks, whatever, I'm going to say, okay.
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  And, you know, you may be like, Oh, Jeremy, that's crazy.
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  You work for free.
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  You do so much.
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  Well, the honest truth is, is that I've probably done very You know,
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  minimal work for large commission one or two times in my life.
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  And so I can probably give back a little bit on this side, right?
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  And my goal in giving that back would be, Hey, yeah, okay.
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  You can pay me back by giving me a testimonial.
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  You can also pay me back by telling all of your friends, you know, that, you know,
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  how I represented you, how I, you know, provided value and how I did all of this.
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  You know, I'd appreciate it if you leave it out that I work for free, you know,
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  but you know, it is what it is because that next, that buyer, if I get them
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  into that home, that home will eventually be for sale and I will be the listing
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  agent if I hooked him up on this end and so it's kind of a pay it forward idea.
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  But it's also something that you have to step back and understand
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  the value of having a closed client.
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  What's the value of the testimonial?
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  What's the value of the referral?
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  What's the value of taking this one transaction that maybe you put in a
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  little more work and got compensated way less than you normally would?
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  But what's the value you can take from that?
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  And so if I have a collection of, you know, four or five of those and
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  I do 35 or 60 buyer, you know, buyer transactions the next, you know, one
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  year to four years or however long it takes to get this sorted out, then
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  I'm going to be way ahead, right?
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  And I'm going to have impact on someone's life and get them
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  into home ownership, right?
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  Because my tagline isn't make as much money as a human
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  possibly can, off other people.
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  My tagline is help.
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  Others build wealth through real estate.
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  And if I were to say, nope, I'm not doing it for 500 or a thousand bucks.
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  Like I'm just not, you know, I can't work for free.
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  Now, certainly if that becomes the norm, then I would probably change
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  my strategy, but I understand that I'm leaving a lot on the table as
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  far as referrals and all of that.
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  So that is my strategy moving forward.
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  And you have to, you know, do what you do and all of that, but I'm
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  going to provide so much value.
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  I'm going to show up for my clients, regardless of if I'm getting 3
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  percent or 1 percent or five or two or 10 or whatever percent it is.
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  I'm going to show up for my clients, I'm going to provide value and I'm going
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  to absolutely build my business on that trust and integrity and loyalty because
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  I still provide an excellent service for them in the changing, you know, market.
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  And the truth is it's not changing that much at this time.
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  So as people kind of quit doing buyer prospecting, slowly pull off and
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  certainly as the commission lawsuit came out, that was all the rage.
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  And now we see people still doing open houses and doing all that.
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  But as we progress and, and people start to kind of really change or
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  get out of the industry, as a result, I'm running towards that storm.
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  I want to be a service to the community.
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  I want to be a service to as many buyers as I possibly can, because if
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  for instance, it does change at some point, the buyer has to pay and, you
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  know, we all know that first time home buyers and other buyers are not going
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  to be able to come forward with a, you know, commission that would be suitable.
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  In this market and so we're gonna have to find other ways to do it and certainly
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  if I have 25 buyers that no one helped over the next two years because they
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  changed their strategy or got out of the industry I'm going to be way ahead with
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  the listings when it does actually change and come to fruition So I hope this helps
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  comment below would be happy to start a conversation about your strategies and
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  what you're seeing, but just think of it a little bit differently run through
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  the storm because if you run through the storm, you're going to get to the other
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  side a lot faster because essentially if you're standing there and you're dry.
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  The storm's coming your way and you run through it instead of just
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  stand still, you're going to get through it and double the time that
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  it would be just standing still.
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  And sometimes you can't run away from it.
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  So let's face it, head on.
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  Let's have that bison mentality.
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  Let's have a great, next year in real estate.
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  If you have any questions, please let me know.
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  If you want to talk about strategies or scripting or whatever, book a
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  realtor game plan, call with me.
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  I'd be happy to chat.
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  We'll talk soon.
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  Bye.
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  Bye.