Latest / The Connect Practice Track & Grow Podcast / Ep005: Turning Your Real Estate Side-Hustle Into A Rewarding Career

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Ep005: Turning Your Real Estate Side-Hustle Into A Rewarding Career · The Connect Practice Track & Grow Podcast

0:00
SPEAKER_00: Welcome to the Connect Practice Track and Grow Podcast.
0:04
SPEAKER_00: Habits, routines, motivations, and mindsets from some of the most successful real estate professionals among us.
0:10
SPEAKER_00: Check out the show notes at Connect Practice Track Grow.com.
0:15
SPEAKER_00: This show is brought to you by the Strategic Resource for Real Estate Professionals, creating and coaching business opportunities and strategies that support and add value to the lives of real estate professionals at thestrategicresource.com.
0:29
SPEAKER_00: And by Roost Real Estate Company.
0:32
SPEAKER_00: Today's real estate agent doesn't follow old rules.
0:35
SPEAKER_00: She makes new ones.
0:36
SPEAKER_00: Learn more at career with Roost.com.
0:44
SPEAKER_02: I'd like to introduce Josh Hufford to the Connect Practice Track and Grow Podcast.
0:48
SPEAKER_02: Josh is a Realtor and lead property manager for Roost Real Estate Company in Springfield, Ohio.
0:54
SPEAKER_02: Josh started out as a client referred to me by Wright Pack Credit Union, and he later became a Realtor while still working a full-time management job with a local insurance services business.
1:06
SPEAKER_02: Later, he became a full-time realtor and a property manager.
1:10
SPEAKER_02: Josh's practice is built around his friends, family, as well as business and referrals he receives from his property management clients.
1:18
SPEAKER_02: And Josh is a busy guy.
1:21
SPEAKER_02: I think you'll get a lot out of listening to this podcast.
1:24
SPEAKER_02: Josh's story of getting his real estate license, starting out with real estate as a side hustle, and then his side hustle turning into a successful career is a great story that new and experienced agents alike can learn from.
1:38
SPEAKER_02: I guarantee you'll find inspiration, timely lessons, actionable tips and tricks, daily habits and mindsets you can use in your business to generate more leads, book more appointments, write more contracts, close more deals, earn more referrals, and make more money.
1:54
SPEAKER_02: And now here's my interview with Josh Hufford.
1:57
SPEAKER_02: Hi, Josh.
1:59
SPEAKER_01: Hey Chris.
2:00
SPEAKER_01: How are you this morning?
2:02
SPEAKER_01: Oh, not too bad.
2:04
SPEAKER_01: Not too bad at all.
2:05
SPEAKER_01: Can't complain.
2:06
SPEAKER_02: Well, thanks for doing this.
2:07
SPEAKER_02: I know you don't have time for it.
2:09
SPEAKER_02: So I do appreciate it.
2:11
SPEAKER_02: So why don't you just tell us a little bit about yourself, your background, how you got started, family, all that good stuff.
2:17
SPEAKER_01: Okay, well, I am married, and my wife, Kate, is a graphic designer.
2:21
SPEAKER_01: We have three kids together, ages nine, seven, and five.
2:25
SPEAKER_01: So that keeps us pretty busy.
2:27
SPEAKER_01: It seems like all of them are in two or three sports at one time.
2:30
SPEAKER_01: So a lot of running going on.
2:32
SPEAKER_01: But with my family, we've always had a background in real estate, whether it was building, construction, flipping houses, roofing companies, the Hufford name in Springfield, especially, um, does carry a lot of weight.
2:45
SPEAKER_01: My grandfather and uncles and great uncles all built up these condos there in Northridge.
2:51
SPEAKER_01: So Fox Ridge and Victorian Village, they built all those.
2:55
SPEAKER_01: My other uncles had roofing companies.
2:57
SPEAKER_01: My dad was always involved in a little bit of everything, whether it was flips.
3:00
SPEAKER_01: So the interest to real estate has always been there.
3:04
SPEAKER_01: And so I just decided the route I wanted to take was let's give being a real estate agent a shot.
3:09
SPEAKER_01: Let's try sales.
3:10
SPEAKER_01: So far, so good.
3:11
SPEAKER_01: But that's kind of how I got started.
3:12
SPEAKER_01: My my family thought it'd be a good idea to give it a go.
3:14
SPEAKER_01: And like I said, so far it's worked out well.
3:17
SPEAKER_02: I think it's worked out incredibly well, quite frankly.
3:19
SPEAKER_02: I think you're being modest.
3:20
SPEAKER_02: So I just want to kind of go through.
3:22
SPEAKER_02: You got your license, was it 2015 or 2016?
3:25
SPEAKER_01: 2015.
3:26
SPEAKER_01: So it'll be seven years.
3:29
SPEAKER_01: Then see, I think this month, October.
3:31
SPEAKER_02: So that is hard to believe.
3:34
SPEAKER_02: So when uh when did we first meet?
3:36
SPEAKER_02: Was that must have been 2014, 2015?
3:38
SPEAKER_02: Let's see.
3:38
SPEAKER_01: So we bought our first house in Beaver Creek for you.
3:43
SPEAKER_01: So that was, let's see here.
3:44
SPEAKER_01: My son was born in 2013.
3:46
SPEAKER_01: So that would have been in 2012.
3:48
SPEAKER_01: Oh my gosh.
3:49
SPEAKER_02: So it's been 10 years, my time wise.
3:53
SPEAKER_02: Yes.
3:55
SPEAKER_02: So I went back and looked at your sales.
3:57
SPEAKER_02: So in 2016, and these are just rough calculations, but it looks like your first year with a license, you did like just over a million dollars in sales, which is really great for any brand new agent, and it's exceptionally good because you were still working at a full-time job.
4:13
SPEAKER_02: And then in 2017, actually, I don't show a lot of sales at all, very limited, maybe 300,000, something like that.
4:22
SPEAKER_02: Was that the year you started with us full-time in property management?
4:25
SPEAKER_02: What year was that?
4:26
SPEAKER_01: No, so I believe I started full-time property management in 17.
4:30
SPEAKER_01: I think I'm in year five.
4:32
SPEAKER_02: Okay, so that makes sense.
4:33
SPEAKER_02: That makes sense.
4:34
SPEAKER_02: So your first year when you were still at the insurance services company, you did over a million bucks.
4:39
SPEAKER_02: The year that you started full-time with a job with us, which is at least 40 hours a week in property management, it was a huge job you do for us.
4:49
SPEAKER_02: Looks like about 300,000.
4:51
SPEAKER_02: And then you move into 2018 and you're at almost 2 million.
4:55
SPEAKER_02: It looks like maybe just under$2 million.
4:58
SPEAKER_02: And then in 2019, jumped to about$3 million.
5:03
SPEAKER_02: 2020 COVID year, your business increased again to about three and a half million.
5:09
SPEAKER_02: And then what's really interesting that really want to try to hear from you what changed between 2020 and 2021, your business doubled to roughly$7 million in sales.
5:25
SPEAKER_02: And you're on track this year, depending on how we finish up.
5:28
SPEAKER_02: It's the end of October that we're recording this.
5:30
SPEAKER_02: You're at least going to do another 7 million and probably finish up more than that.
5:34
SPEAKER_02: That that is it's just incredible.
5:37
SPEAKER_02: I mean, I you have to be proud of yourself for that performance.
5:40
SPEAKER_01: Yeah, I think you mentioned why maybe the huge increase to double.
5:44
SPEAKER_01: And I think that's when really a lot of the referrals started to hit.
5:47
SPEAKER_01: So I had a few clients that had already they had already bought a new home, and then a couple years later they've maybe outgrew it.
5:53
SPEAKER_01: So I had a lot of repeat of clients and customers, a lot of referrals started coming in.
5:58
SPEAKER_01: So that was probably, let's see here, year four and five.
6:02
SPEAKER_01: So yeah, so a lot of referrals started coming in.
6:06
SPEAKER_01: You take care of people, and also along the way, with I mentioned with the kids' sporting events, I'm meeting people along the way too.
6:12
SPEAKER_01: So most everybody I introduce myself and they kind of what do you do for work?
6:16
SPEAKER_01: So I'd be sure to I'm sure to put my name out there and maybe slip them a business card.
6:21
SPEAKER_01: So it's just a culmination of things, you know, referrals, repeat clients, and then just meeting new clients and customers and friends along the way.
6:29
SPEAKER_02: Well, it is cool that a lot of folks get into the business thinking that it's going to happen for it quickly or they're going to get rich quick.
6:36
SPEAKER_02: And the reality is it takes a few years to get established and start to get that repeat business.
6:41
SPEAKER_02: And that's exactly what you've done.
6:43
SPEAKER_02: You started off strong, but the real beauty of your career so far is the steady increase in productivity and sales year after year.
6:52
SPEAKER_02: So in a typical year, it sounds like your business comes from friends, family.
6:56
SPEAKER_02: What's what's this past year looked like for you if you think through some of where some of your buyers and sellers came from?
7:03
SPEAKER_01: So, yeah, a lot of friends and family still, of course.
7:06
SPEAKER_01: And then also I've gained some investor friends along the way, investor clients, and they're they're looking to expand their portfolios.
7:13
SPEAKER_01: So we've been able to find them some deals, whether it be apartment buildings or just multi-units or just single family.
7:19
SPEAKER_01: So along the way, those investors have still been growing with me and wanting to grow their business.
7:23
SPEAKER_01: And I've been fortunate enough to be able to help them.
7:27
SPEAKER_02: Yeah, I think that obviously some of your business has come from the property management client base that you work with every day, those owners.
7:35
SPEAKER_02: And that's a great, great source of repeat business, as long as we we take care of them as property managers.
7:41
SPEAKER_02: As long as we do that, they're thrilled to have us help them with their actual purchases and sales.
7:46
SPEAKER_02: So that's a beautiful thing.
7:47
SPEAKER_02: We kind of talk about that as return on portfolio.
7:50
SPEAKER_02: Property management is um, it's a tough business, but it's a great service we provide our owners, and our owners are very loyal.
7:56
SPEAKER_02: And it's not like anybody's getting rich quick off of the money we make on property management, but that total return on relationship or that total return on the property management portfolio is always significant because anytime they buy and sell, they do it with you or another agent in the office, and that's just great revenue, pure profit almost, but not free because there's a tremendous amount of investment that you've put into to earn that referral in that business.
8:24
SPEAKER_02: So you said that uh you get some business with the kids, sporting events and stuff.
8:29
SPEAKER_02: How else do you make connections with people?
8:32
SPEAKER_01: Like I said, just referral of mouth, referral of Facebook.
8:36
SPEAKER_01: If you post, you know that you've sold something and you maybe have a good review, then you know it's out there for the world to see.
8:41
SPEAKER_01: And um, if it's good, then you know someone else sees that review and say, hey, I'd like to work with this guy.
8:46
SPEAKER_01: So they may shoot a message over or even call or text me.
8:50
SPEAKER_01: The database, I'm still working on expanding that a little bit, but the database helps sending out those monthly flyers and all of that.
8:57
SPEAKER_01: So that's one of my goals for the rest of the year is to build that up and start actually utilizing that a little bit more than what I have in the past.
9:05
SPEAKER_02: Yeah, yeah, we'll talk a little bit about that.
9:08
SPEAKER_02: But yes, as a coach and mentor, we we need to have you be a bit more intentional about your your database and so forth because a lot of different reasons.
9:16
SPEAKER_02: One is, you know, you work incredibly hard.
9:19
SPEAKER_02: And at some point, we want you to build a business and a practice that you know works for you versus the other way around.
9:26
SPEAKER_02: And then the other thing is, and you're a young guy, of course, but you know, at the at some point in your career when you decide that you want to slow down a little bit, your database is the it's the savings account, so to speak, it's the investment account that allows you to refer out to other agents and earn fees that way and even sell your practice someday.
9:46
SPEAKER_02: So there's a lot of intermediate term benefit and a tremendous amount of long-term benefit that sometimes in the heat of the battle we don't can consider when we start talking about your database.
9:58
SPEAKER_01: So I think one other thing I wanted to mention I should have added in there about gating business is also networking with other business professionals.
10:05
SPEAKER_01: I have a lot of good friends that are in insurance.
10:08
SPEAKER_01: So if they sell home insurance or insurance like that, they may refer people over to me.
10:12
SPEAKER_01: I've networked with a couple local attorneys.
10:15
SPEAKER_01: So if they need whether it's an estate or maybe their clients are going through a divorce or something to where they need to sell the house, I've kind of networked with them and I've got some leads and some closings and met new clients that way as well.
10:28
SPEAKER_01: Yeah, that's perfect.
10:30
SPEAKER_02: So, do you have a what I like to call a personal connection standard?
10:35
SPEAKER_02: So what first of all, what does that personal connection, that traced personal connection standard mean to you?
10:42
SPEAKER_01: Um, this is what we talked about right before the podcast that I was a little unsure of.
10:46
SPEAKER_02: So well, so one of the things that you do, and I think it comes naturally for you, and I don't know that you I don't even know that you think about it because it's just part of who you are.
10:57
SPEAKER_02: But when we talk about personal connection standard, it's about basically it comes down to how many contacts are you gonna make with current and future clients in a given week?
11:08
SPEAKER_02: So how many phone calls are you going to make?
11:11
SPEAKER_02: How many text messages are you gonna send with a you know purpose outside of getting a deal done?
11:16
SPEAKER_02: How many personal notes are you going to write?
11:20
SPEAKER_02: How many stopbuys are you gonna do?
11:22
SPEAKER_02: This is the gratitude season coming up on Halloween, we're coming up on Thanksgiving, holidays.
11:26
SPEAKER_02: There's a zillion reasons to reach out and thank a client and just remind them that you're here for them and whatever their plans are for next year, you're there.
11:34
SPEAKER_02: And then the fifth thing that you know is important about a personal connection standard, it's setting a goal for yourself as to how many additions, qualified additions you're gonna make to your database in a given week or a given month.
11:49
SPEAKER_02: So some people may say, Well, I'm gonna make at least three calls a week.
11:52
SPEAKER_02: I'm gonna write two personal notes, I'm gonna do at least three or four, I'm gonna do four stop buys, pop by stop buys.
12:00
SPEAKER_02: And some of us cluster those, you know, in one place and do them every quarter.
12:03
SPEAKER_02: That's more than fine too.
12:04
SPEAKER_02: And then the big one is as you build out your business, how many people are you gonna set a goal for to add to your database?
12:11
SPEAKER_02: And that could be one a week, five a month, it could be any number.
12:15
SPEAKER_02: And I think for somebody like you who is so active in so many things, you could probably set a pretty high bar for a qualified person to add to your database.
12:26
SPEAKER_02: So that's what we're talking about with the personal connection standard.
12:28
SPEAKER_02: And yes, you do have to go back and sort of collect everything you've done the last two or three years and get your database updated, but that's a one-time event.
12:37
SPEAKER_02: It's really more about how will you be intentional about making those connections and tracking them going forward.
12:43
SPEAKER_01: Right.
12:44
SPEAKER_01: Yeah, I I one thing I do weekly is I do I make probably three to five calls a week and just check in on people, especially when you get a sale done, when you get a closing done, uh, I check in with the new people.
12:54
SPEAKER_01: How's the new place?
12:55
SPEAKER_01: Everything going as it should, any issues.
12:57
SPEAKER_01: So always quick to follow up with that because I just want to make sure everything's good there and nothing was missed, especially when a lot of times people don't have an inspector.
13:05
SPEAKER_01: So if I recommend a good inspection company, I want to make sure that everything's good, which and it has been, I haven't had any issues, but always just like the follow-up, quick follow-up call or text just to make sure that everything is going as it should, everything is normal, no issues.
13:19
SPEAKER_01: Um, I do have some stuff planned here for the end of the year, some customer appreciation stuff.
13:25
SPEAKER_01: Like you said, it's it's that time of season.
13:26
SPEAKER_01: We have Thanksgiving and Christmas coming up in the new year and all of that.
13:30
SPEAKER_01: So I got um a few things planned for that for some pop eyes.
13:33
SPEAKER_01: So I'm looking forward to uh connecting with uh some of my past clients and hopefully gaining some future clients.
13:40
SPEAKER_02: Yeah, and that follow-up after the sale is so important, and I think it is a secret to your success because I would venture to say that even 90% of your fellow realtors don't do that.
13:51
SPEAKER_02: The sale's over, they got paid, went to the bank, they're on to the next opportunity.
13:55
SPEAKER_02: And the secret to earning referrals and repeat business is that after sale follow-up.
14:00
SPEAKER_02: I'm so adamant about and encouraged about the whole database because and just to kind of describe this for our audience, we send out something every month from every agent to every one of their A, A, and B clients called Roost Ramblings.
14:18
SPEAKER_02: And it's just a silly postcard, super duper informal.
14:22
SPEAKER_02: There's nothing really salesy about it, but we set them up so that they come directly from the agent.
14:31
SPEAKER_02: So they're personalized.
14:33
SPEAKER_02: And at this point, we're sending out over 3,000 postcards, oversized postcards a month.
14:39
SPEAKER_02: And we've been doing it literally for years now, and we've never missed a month.
14:44
SPEAKER_02: And the beauty of it is that one piece that keeps everybody top of mind with their sphere of influence, friends, family, past clients, etc., it's so simple, it's so low-tech, but it makes all the difference in the world.
15:00
SPEAKER_02: And we can go back and we can see the people that that uh mail out 50 a month do, you know, third to a half of the business, that people who mail out 100 a month, and the math just keeps there's a straight correlation there all the way up to maybe 200 or so.
15:19
SPEAKER_02: The goal for those database ads and the people that we send roost raplings out to is 150 people is kind of the magic number.
15:27
SPEAKER_02: And but those 150 people, the criteria that you want to keep in mind is these are people that you would recognize at the grocery store if you ran into them just out of the blue on a Saturday afternoon.
15:37
SPEAKER_02: So it's really interesting.
15:39
SPEAKER_02: And I want to do a blog post on this and really share the numbers, the direct correlation, and again, over time, it doesn't happen overnight, but over the first two, three, four years as to how much business is generated just by that one thing that we do for our agents, and it just happens and nobody has to think about it.
15:58
SPEAKER_02: So, anyway, I'm gonna I'm not gonna preach anymore.
16:00
SPEAKER_01: I'm not gonna lecture you, but I will say on the restream links, we've got a lot of good feedback on that.
16:05
SPEAKER_01: It's a no pressure type of flyer, it's something the clients look forward to, whether it's tips on whatever we're talking about that month or like a joke or something, but it's a no pressure thing.
16:15
SPEAKER_01: It's not, hey, this is from Josh Hufford.
16:17
SPEAKER_01: He wants to buy, wants you to buy our list with him.
16:19
SPEAKER_01: Yeah, that'd be nice at the end of the day, but this is a no-pressure flyer.
16:23
SPEAKER_01: It gives helpful tips, and I know a lot of people look forward to that.
16:27
SPEAKER_02: Yeah, no, I appreciate that testimonial.
16:30
SPEAKER_02: It really does work, and we've gotten great feedback on it.
16:33
SPEAKER_02: So, again, great agents connect.
16:35
SPEAKER_02: We create, nurture, and leverage your relationships by staying in touch.
16:38
SPEAKER_02: That's the key part of Connect Practice, track, and grow.
16:42
SPEAKER_02: So, let's let's talk a little bit about your actual actual practice of real estate.
16:46
SPEAKER_02: And as you said, it does involve a lot of investors and a very diverse group of clients.
16:52
SPEAKER_02: But what in your mind sets your practice apart from other agents' practice?
16:56
SPEAKER_01: I think that I've kind of come up through the system.
16:59
SPEAKER_01: I started with you buying my first house.
17:02
SPEAKER_01: So you kind of laid the groundwork there on what to expect during the process and how everything should go, and that's always stuck with me.
17:10
SPEAKER_01: So I feel like I had a great foundation on the buying process, dealing with lenders, what questions to ask, stuff that I didn't know about until I sat down and talked with you.
17:18
SPEAKER_01: So I feel that foundation has been strong for me, and I think I've had an upper hand as far as just a normal real estate agent because I've already been through the process.
17:26
SPEAKER_01: I know now a lot of techniques that I use from day to day because that's what you taught me, and that's what I learned going through the actual buying process.
17:35
SPEAKER_01: I think that's giving me an upper hand.
17:37
SPEAKER_01: And also, I think I have a good, I think my networking has really helped out, especially instead with the kids being in sports, you meet a lot of people every week, whether some of them attorneys, lawyers, insurance agents that I've linked up with, especially in the Bewer Creek area.
17:52
SPEAKER_01: I just we'd moved here about three years ago.
17:54
SPEAKER_01: So we're from Springfield, moving down this way.
17:58
SPEAKER_01: We didn't know a lot of people.
17:58
SPEAKER_01: We didn't know a lot of, I didn't have a lot of professional friends.
18:02
SPEAKER_01: So meeting them, helping grow my portfolio of clients really, I would say location change has really helped as well.
18:10
SPEAKER_01: It just kind of opens up a new door for us.
18:13
SPEAKER_02: Well, it's also going to help us open up Dayton and all points west.
18:16
SPEAKER_02: So I'm glad to hear that you feel like that's being you're successful at that.
18:21
SPEAKER_02: So you've become an expert on the management of investment properties because you've been doing it full-time for several years now.
18:28
SPEAKER_02: And obviously, one of the keys to your practice is you're just a huge resource for investors as as well as owner occupants.
18:37
SPEAKER_02: Uh how I believe you you I know you've had some success with this, but you've actually sold some houses within the owner group, haven't you?
18:46
SPEAKER_01: Oh, yeah.
18:46
SPEAKER_01: That's one of the first things I try to do.
18:49
SPEAKER_01: If an investor says, hey, we're thinking about cashing on these couple of properties, I try to reach out to other investors who are looking.
18:55
SPEAKER_01: Every week, we it seems like I have an investor looking to buy or sell.
18:59
SPEAKER_01: So if I can link them up, you know, especially with on the property management side and try to keep things in-house, that's been a good, good database to keep everybody together.
19:07
SPEAKER_02: Yeah, I mean, it's market making, right?
19:09
SPEAKER_02: When somebody says they have a house to sell, you go to the owner group and you say, Hey, I've got somebody with the house, anybody interested in adding to their portfolio?
19:16
SPEAKER_02: Somebody raises their hands, everybody's happy and everybody wins.
19:20
SPEAKER_02: So that market making within the owner is just a huge thing.
19:24
SPEAKER_02: Why don't you well tell us this?
19:26
SPEAKER_02: Uh for people listening.
19:27
SPEAKER_02: I mean, you've got three kids, great family, you're active in the community, you've got a full-time job, and you sell a ton of real estate.
19:35
SPEAKER_02: How do you juggle the sales aspect, the family aspect, and the fact that you're working 40 hours a week as a property manager?
19:42
SPEAKER_01: Just try to obviously organization's key, prioritizing.
19:46
SPEAKER_01: You know, a lot of people, a lot of clients want to look at houses in the evenings just because that's when they're off work.
19:51
SPEAKER_01: So it's a lot of talking with my wife, scheduling who's taking who where, who's picking up who when, but just fitting, finding time for clients.
19:59
SPEAKER_01: I mean, that's what you have to do.
20:00
SPEAKER_01: If you don't have, if you can't make time for clients, then somebody else will and you're gonna lose that business.
20:05
SPEAKER_01: So it's all about prioritizing and just making it work one way or another.
20:10
SPEAKER_02: I think you've done a great job too, better than most, of setting boundaries for yourself.
20:14
SPEAKER_02: You I know you you're consciously able to get away with the family and your wife and so forth from time to time.
20:20
SPEAKER_02: I know you're at a wedding this past weekend, and I absolutely applaud that because you've figured out how to protect personal time and get away, and you're far better than most of us will ever be at at being able to shut off the incoming with the phone and so forth for a certain period of time and spending quality time being in the moment with your family.
20:41
SPEAKER_02: And I absolutely applaud that.
20:43
SPEAKER_02: I'm so impressed with that behavior.
20:45
SPEAKER_02: Tell us about your personal investing experiences.
20:48
SPEAKER_02: You've been helping a ton of our clients, our owner clients, make a ton of money over the past few years.
20:52
SPEAKER_02: Tell me about your personal investing experiences.
20:55
SPEAKER_01: So we have one of our one of the first investments I ever have is and we built a lake house property down in Norris Lake in Tennessee.
21:03
SPEAKER_01: So we teamed up with a couple of friends and we built that.
21:06
SPEAKER_01: So that's about three or four years old now.
21:08
SPEAKER_01: We use it, we rent it out year-round.
21:10
SPEAKER_01: It's constantly booked, so that's been a success.
21:13
SPEAKER_01: And then this past year, we were fortunate enough we picked up two flips that we were able to get the work subbed out and get them listed and make a little bit of money.
21:22
SPEAKER_01: Along with that, we picked up one rental.
21:25
SPEAKER_01: So the past year, I've added three investment properties to our portfolio, which two of them being flips, one rental.
21:31
SPEAKER_01: It's fantastic.
21:32
SPEAKER_01: It's just like everybody else, it's it is tough to find a good flip, especially in Springfield, but you can find them.
21:39
SPEAKER_01: And I got a lot of people calling me daily, like, hey, find me a flip, find me a flip.
21:43
SPEAKER_01: And it seems like that's what everyone wants to do.
21:45
SPEAKER_01: And but if you can find a good one, there there's money to be made, and you can you know get things rolling in your investment portfolio by buying a cheap rental.
21:54
SPEAKER_01: I crush you have a lot of rentals.
21:55
SPEAKER_01: But we just picked up our first one, and it's been it's kind of you take a leap.
22:00
SPEAKER_01: Faith with that, especially with building that house in Tennessee.
22:02
SPEAKER_01: It's just one of those things where Katie and I went back and forth and we're like, all right, let's go for it.
22:06
SPEAKER_01: But as one of my worked out really well for you, though.
22:09
SPEAKER_02: I mean, you took a calculated risk and you've done well with that.
22:12
SPEAKER_01: Right.
22:12
SPEAKER_01: And so then we built this brand new house down there.
22:15
SPEAKER_01: And then COVID comes a year later.
22:16
SPEAKER_01: And so we're Katie and I are looking at each other like, okay, here we go.
22:19
SPEAKER_01: Did we make the wrong mistake?
22:21
SPEAKER_01: But luckily we stayed solid with bookings, didn't have hardly any cancellations.
22:25
SPEAKER_01: So we were able to work through that with our business partners and just keep it moving.
22:29
SPEAKER_02: Yeah.
22:30
SPEAKER_02: Yeah.
22:30
SPEAKER_02: Well, and again, real estate investing, again, it's not a just like the practice of real estate.
22:34
SPEAKER_02: It's not a get rich quick scheme, but it's taking a long term.
22:37
SPEAKER_02: And if you have a loan on the property, it's taking the time it takes to pay that loan down and off and have something of significant value at the end of that term.
22:46
SPEAKER_02: So congratulations on that.
22:48
SPEAKER_02: Thank you.
22:49
SPEAKER_02: So great agents connect, they practice, and great agents track.
22:53
SPEAKER_02: So this is something that I've really been working closely with a lot of our folks.
22:57
SPEAKER_02: But what does tracking your business mean to you?
22:59
SPEAKER_01: I tracking business to me means that constantly I always look at my numbers, where I'm at sales-wise compared to last year, where do I want to be next year?
23:08
SPEAKER_01: If you don't know those numbers, then I don't see how you can really progress.
23:12
SPEAKER_01: So, and it's not even really, I wouldn't say volume and sales, but sales as far as number of sales, I should say.
23:18
SPEAKER_01: But just how can I beat last year?
23:20
SPEAKER_01: What can I do to work harder to have more sales by the end of the year and tracking?
23:25
SPEAKER_01: So constantly looking within the MLS, looking at numbers.
23:28
SPEAKER_01: I'm I look at it about every other week just to see where I'm at, not really to compare myself with others, but just see where my numbers are so I can plan for next year and plan out my goals for next year.
23:39
SPEAKER_02: I think that's absolutely wonderful and it's critical to moving forward.
23:44
SPEAKER_02: I also like the fact that you're focusing on units, and which is really at the end of the day, people helped because you're doing it in terms of relationship versus in terms of dollar volume.
23:54
SPEAKER_02: Do you know what percent of your business comes from past clients and referrals?
24:00
SPEAKER_01: I would say over 50%.
24:03
SPEAKER_01: I would say probably closer to 60%, between 60 and 70%.
24:07
SPEAKER_01: I bet you it's even bigger than that, to be honest with you.
24:10
SPEAKER_02: It could be.
24:11
SPEAKER_02: And that's why I really want you to focus on getting your getting your information caught up in your database and continuing to get that added on.
24:19
SPEAKER_02: Some way we've got to help you do that, get help for you to do it or whatever we we need to.
24:25
SPEAKER_02: But the the cool thing is one of the neat things to track is your return on relationship.
24:31
SPEAKER_02: And that return on relationship calculation is really okay, what were the you can use dollar volume, you can use units, but you know, yes, the first metric is what percentage of my business is coming from referrals and so forth, but what percentage of my business is coming from those top 150 people that I'm mailing roost rablings to every month?
24:50
SPEAKER_02: And I've seen agents move that number from 50, 60 percent to 90 percent over the course of a couple of years, just from being more intentional about it.
24:58
SPEAKER_02: And the more people that you get into your database, the more people Angela sends roost rablings to, and the more repeat business you get.
25:05
SPEAKER_02: So before you know it, we could be talking again in three or four years.
25:08
SPEAKER_02: And instead of seven million, you could be 12 to 14 million.
25:11
SPEAKER_02: Now, I don't know if you want that kind of business, you're gonna have to get a second team to help you, but you you've got the wherewithal and the raw material to make that happen.
25:19
SPEAKER_02: I mean, you have a significant business now, but God, Josh, where you are, you know, the sky's the limit.
25:25
SPEAKER_02: It just depends on what you want.
25:27
SPEAKER_02: The only other thing that I would say to you is you said that how much harder can I work?
25:31
SPEAKER_02: I'm not sure how much harder you can work, but I know there's always a way to embrace the team and look for ways to continue to work smarter and more efficiently.
25:40
SPEAKER_02: But good God, man, you work harder than most people I know.
25:43
SPEAKER_02: So I'm more worried about you burning yourself out than not.
25:47
SPEAKER_02: But anyway, so it goes also goes back to the other kind of numbers I like to track are what are your sales unit sales look like relative to your personal connection standard?
25:55
SPEAKER_02: What's really an interesting number, and it only works over time, is what were my sales relative to how many contacts I made over the course of the year?
26:02
SPEAKER_02: So that's an interesting metric to watch, and it's a number that we can move.
26:06
SPEAKER_02: So that's all tracking, but man, you've got the basics down pat.
26:10
SPEAKER_02: You're way, way ahead of the game by just watching the actual transactions that you're completing.
26:15
SPEAKER_02: So congratulations.
26:17
SPEAKER_02: Thank you.
26:19
SPEAKER_02: So great agents grow.
26:21
SPEAKER_02: So when we go back to Connect Practice, track and grow, agents that focus on three things connecting with current and future clients, practicing their profession, tracking their numbers, tracking their business, they can't help but grow.
26:35
SPEAKER_02: And we've already said that the thing that really kicked in for you between what was it, 2021 and 2020 and 2021 was the fact that you were in the business long enough and doing enough of the right things long enough that you started to get repeat business and referrals.
26:51
SPEAKER_02: So is there anything else that's kind of happened in the past few years that would you say has contributed to your growth?
26:57
SPEAKER_01: I think it's mainly been those core things that you just mentioned, repeat customers and referrals mainly.
27:03
SPEAKER_01: I really, outside of those things, meeting new people along the way and getting new clients, just by word of mouth, whether the kids are wearing their roost sweatshirts around or I'm wearing mine.
27:13
SPEAKER_01: We always get a lot of questions generated from that, which is cool because you know it's free advertisement, free marketing.
27:19
SPEAKER_01: But really, I mean, but just taking care of people.
27:21
SPEAKER_01: You take care of people the way that you would want to be treated and you get good reviews, then people see that and they want to, you know, they're intrigued by that and they want to reach out and they that's what they want their agent to be.
27:31
SPEAKER_01: So yeah.
27:33
SPEAKER_02: I gotta tell you, Roost sweatshirts, t-shirts are the best advertising money I've ever spent in my life because everybody wears them, everybody loves them, and I just get such a kick out of just being out in public and seeing somebody with a roof shirt on.
27:45
SPEAKER_02: It just makes my day.
27:47
SPEAKER_02: So, Josh, I like I said, I really appreciate this.
27:50
SPEAKER_02: What just as we start to close out, what does the next phase of your career look like for you?
27:55
SPEAKER_02: What are your kind of what's your next set of goals look like for the next couple of years and beyond?
28:00
SPEAKER_01: I'd really, you mentioned though that$12,000,$13,000,$14,000 or$14 million mark.
28:05
SPEAKER_01: And that's really where I want to be.
28:07
SPEAKER_01: Like, I just want to keep keep ascending, keep going towards those numbers.
28:11
SPEAKER_01: I think probably I need to sit down and really maybe think about getting like a personal coach because I think that could help take me to the next level as well.
28:20
SPEAKER_01: I've seen some of the other agents in our office, Priscilla mainly work with coaches, and I know that's really helped her business.
28:26
SPEAKER_01: So that could be an option for me in the near future, but really just working hard and keep those referrals generated, keep taking care of my clients.
28:33
SPEAKER_01: Um, you know, seven or eight million when sales is fine for now, but I don't want it, I don't want it to level off there, like to keep going up.
28:41
SPEAKER_02: I applaud the idea of a personal coach.
28:43
SPEAKER_02: I had a Buffini company personal coach for years when I was actively practicing every day.
28:48
SPEAKER_02: And Deidri's had a coach from Buffini off and on.
28:51
SPEAKER_02: Priscilla's had the same coach for years, and her business has, I think, tripled in the past few years.
28:56
SPEAKER_02: Teen is using a personal coach from Buffini.
28:58
SPEAKER_02: So I think that's a wonderful thing because the cool thing is about working with Buffini and Company is it's not just about helping you get to 14 million.
29:08
SPEAKER_02: It's about helping you get to 14 million or whatever your goals are while having a personal life, while integrating your property management job.
29:18
SPEAKER_02: It's a really holistic approach to life and business.
29:22
SPEAKER_02: I'd like to think it's it, they're the masters at helping you design a life that's worth living.
29:27
SPEAKER_02: So I think that's an incredible goal.
29:29
SPEAKER_02: So congratulations.
29:31
SPEAKER_02: Well, I have to tell you, this is this has been a joy.
29:33
SPEAKER_02: I'm thrilled that you're with us.
29:35
SPEAKER_02: It's been a great, my God, almost 10 years.
29:37
SPEAKER_02: And I hope we get to do this before the next 10 years are up.
29:41
SPEAKER_01: Thank you so much, Chris.
29:42
SPEAKER_01: We're really appreciate you as well.
29:43
SPEAKER_01: All right.
29:44
SPEAKER_02: We'll talk to you soon.
29:45
SPEAKER_02: Bye.
29:45
SPEAKER_02: Thank you.
29:49
SPEAKER_02: And there we have it.
29:50
SPEAKER_02: Thanks for listening in.
29:52
SPEAKER_02: If you want to continue the conversation, go to www.connectpracticrow.com.
29:59
SPEAKER_02: That's connect practicrow.com, where we have additional information about the podcast, archived episodes, and an option you can select to be a guest on the show.
30:10
SPEAKER_02: We'd love to hear from you.
30:11
SPEAKER_02: So that's it.
30:12
SPEAKER_02: We'll be back next time with another episode of the Connect Practice Track and Grow Podcast.
30:17
unknown: Mm-hmm.