Latest / The Real Estate Agent Playbook / Survive the Real Estate Industry Apocalypse

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Survive the Real Estate Industry Apocalypse · The Real Estate Agent Playbook

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  Oh man, this real estate industry is absolutely changing, and as agents you
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  feel a lot of fear, you have a lot of people changing things up, getting new
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  licenses, doing a bunch of different things, and I'm here to tell you that's
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  okay, but I also want to bring a little bit of calm to you today to talk about
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  how we, as a unit, In this real estate industry can survive and be great agents
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  and come out on the other side ahead.
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  So stay tuned I'm gonna dive in
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  what's up guys, jeremy kane real estate agent playbook I'm gonna get right into
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  this one because I know a lot of agents are feeling the market and they're
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  feeling the change Kind of freaking out looking maybe at doing something
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  different, changing brokerages, changing teams, you know, getting a job and,
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  you know, maybe as an escrow agent or something along those lines to supplement.
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  And I'm here to tell you that you can absolutely make this work and take full
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  advantage of this as a real estate agent.
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  My goal is to keep you in the game, that real estate agent.
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  You know, success rate is 87 percent usually fail within the first
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  five years according to Tom Ferry.
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  We want to make sure that you are in it and I'm here to help you and
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  walk you along any step of the way.
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  If you feel this panic and you can't watch this video anymore because I'm scaring
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  you or whatever, Book a call with me.
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  I'd be happy to chat with you and we can make a game plan for you.
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  That's all about survival, adaptability, and making this work.
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  So let's talk about it.
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  The 87 percent failure rate.
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  This is something that in the good times was out there.
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  So I'm sure that, you know, we've heard 60, 000 people, a hundred thousand
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  people have gotten out of the industry, whether it's lenders or agents or.
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  You know, title people or whatever, we don't want to be one of those people.
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  And you don't have to be what you do have to be is adaptable
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  to beat those stats and change.
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  And right now is huge, right?
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  So as we, you know, kind of take all this in, in the changing market, boom,
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  here comes the NAR lawsuit about.
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  You know, buyer agent compensation and people leaving the realtor boards and all
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  of this, let's let this play out before we say one million agents are going to leave
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  realtor board and ours not going to exist.
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  Let's let it play out.
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  But in the meantime, as an agent, you better be figuring out how you're
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  going to demonstrate your value because regardless of, you know, what the
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  standard commission is, which I didn't think we were allowed to talk about.
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  But they seem to be, you know, dialing it into the standard of zero.
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  You know, if you listen to some people reporting on the court case, we need
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  to figure out what the value is.
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  People will pay for value.
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  People pay for service.
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  And so as a buyer's agent, especially with the changing, you know, scene.
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  You need to make sure that you are providing value.
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  What's your value stack?
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  Just like when agents come talk to me about eXp and the Wolfpack, our
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  value stack's unmatched, right?
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  If you, if you're considering moving brokerages, book a call,
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  stop the video right now, book a call with me, reagentwolfpack.
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  com, and we can talk because there is no better value stack
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  in the industry than ours.
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  So we need to take that mindset and build it into our production business.
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  And if we can do that.
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  We can dial in exactly what it is and we can show why we're getting paid.
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  Whether it's negotiating with the buyer, negotiating with the listing
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  agent or the seller, we can say, okay, this is what I'm bringing to the table.
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  This is why it would benefit you to pay a buyer's agent compensation.
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  And this is what I'm charging.
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  So once you have that standard, within your value stack, you
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  can, you can utilize that.
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  So in this slower time, I challenge you.
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  Dial in your value stack.
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  What are you doing for listings?
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  What are you doing for buyers?
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  What makes you different?
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  What's your why?
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  What's your story?
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  Because it's all about storytelling.
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  So honestly, I'm not concerned about the NAR lawsuit because I'm providing value.
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  This is my business.
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  I'm going to obviously operate within the rules and the laws and
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  things like that, but I know that I have to show up and provide value.
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  Just like when the iBuyers I had to provide value because that
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  was definitely an easier route.
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  A couple of clicks, maybe a couple more percent they were charging, you know,
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  but they're making good offers on houses at some point in their, their tenure.
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  and I had to, you know, step that up and I still became
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  one of the top listing agents.
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  In that time where sellers had options, because it was all about
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  value is about how I marketed properties, how I communicated, right?
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  Because here's the deal.
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  Some people don't want to be communicated with.
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  Some people don't want to deal with people.
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  Those people are going to go the iBuyer route.
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  If it makes sense financially.
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  And there are some people that absolutely won't.
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  I want to meet those people.
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  I want to talk to those people, talk to those humans, and
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  make that value come through.
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  So, just work on your value.
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  I would spend less time watching about what's going on in the court case because
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  you do not control what's going to happen or what that's going to look like.
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  Keep your head down.
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  Get to work.
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  Provide that value stack.
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  And you will certainly be grateful for that on the other side of this.
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  Next, we have to talk about, you know, what is causing this?
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  Why are transactions down 30 or 40 percent?
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  Why is NAR coming out saying they'll probably be down another, you know,
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  4, 000 sides nationwide next year?
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  That's crazy because I thought the interest rates were going to come down
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  and everyone is going to rush the market and we're going to have a, you know,
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  feeding frenzy and all the things.
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  Well, look, it might be a little bit longer.
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  This winter might be a little bit longer.
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  And so as an agent, we need to make sure that we are talking about what
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  the winners are, who the winners are.
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  I talk about this all the time, but what makes sense in a high interest
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  rate, low inventory market is your market affordability way up there.
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  And, you know, okay, let's talk to investors.
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  What are investors talking about?
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  Oh, investors looking at midterm rentals.
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  Great.
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  Let's get educated.
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  Let's read some books on midterm rentals.
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  Let's dive into that model because if that's where the winners are,
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  you need to be there as an agent.
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  And, you know, I love the niche market.
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  I love all of that stuff, but this is exactly the time where if your niche is
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  dried up, you have to find a new one.
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  You have to build a new pillar.
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  And that's my kind of mantra moving forward for all agents, agents in my
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  group who I coach and mentor for free, or agents that I'm talking to, right.
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  Just friends of mine in the industry.
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  Like let's dial in our systems and processes, dial in our value stack,
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  but then let's start different streams.
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  Like let's, let's get creative right now.
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  Who are the winners?
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  How can I be of service to my clients?
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  And it might be just a different funnel.
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  Right?
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  It might just be a different program or a broker rebate if that's allowed
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  in your state and diving into where are the people coming from?
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  Where are the people that are actually in the market coming from?
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  And if we can do that, we're absolutely ahead of the game.
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  Dial in a new funnel.
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  Who knows on the other side of this, you could have another income stream or two
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  based because you know, you have this part over here, your business, your 85%.
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  This is where your time spent.
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  But you're consistently delivering on client journey and client
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  experience, retention, referrals, whatever your business is over here.
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  That's worked in the past.
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  I'm not saying abandon ship.
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  I'm saying get that dialed in perfect so that when the faucet does turn back
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  on, that's where they're coming from.
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  However, there is faucets, there's homes buying trading hands every single day.
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  And where are those people coming from?
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  What's that faucet that's turned on that?
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  Maybe you could just get a little bit of the flow.
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  And change your business.
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  So if you're interested in that, if you like what you hear,
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  throw me a like or subscribe.
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  I give information like this all the time.
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  I've built my business pretty much organically and I bring everything that I
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  do to you in this format on this channel.
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  or on the podcast.
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  So do all the things, share the show, share the YouTube link.
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  It's all okay.
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  Do all the things and let's make this happen.
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  The next thing you need to be careful of in this new society
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  is the tech overwhelm, right?
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  As an agent, right now, as a sphere, you know, trainer and You know live
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  by my sphere die by the sphere.
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  That's funny I I must have that crm dialed in so i'm taking some time to get
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  better at my crm I'm taking some time to dial it in make sure That the campaign
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  so to speak that they're on or their path that they're on their journey Within
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  that is all everybody's kind of in the right lane So that there's no confusion.
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  Everybody's getting, getting the perfect marketing and everything
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  that I've tailored towards them.
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  And then I'm diving into AI, right?
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  And I'll tell you right now, chat GPT can probably eliminate three to
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  four different subscriptions that you have, that you're paying for, that you
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  may not even know you're paying for.
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  You take one thing from the book shift that I've never read But I know what you
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  do is you look at your bank statements and see what are those automatic recurring
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  payments that you don't live You know need anymore This is of utmost importance right
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  now because every single website you go to every single service you use It's 9.
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  99 a month 9.
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  99 a month or 100 for a year and then it auto renews out of nowhere, right?
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  And we don't even use it anymore.
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  I know for a fact that AI and chat GPT Can absolutely eliminate three to five
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  of those in my business right now.
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  So I'm going to embrace that tech chat, GPT, AI, not really
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  up your alley right now.
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  That's okay.
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  I would challenge you.
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  I would tell you, even the industry leaders, the people that are at the
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  top of the XP, the people that I saw spoke at the XP con, they are still
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  in the very infant stages of AI.
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  And so there is still time for you to get into it.
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  Look at it, use it as a tool.
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  A great resource for AI is an agent in my downline, Adam Gillespie.
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  Look him up, AdamG303.
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  Give him a shout out there.
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  But he is absolutely in this every day using it for some of the gurus who
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  have teams that are using and sending them to training and then trying
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  to bring that information to you.
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  Adam is in it every day and he's absolutely changed my business
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  in the short amount of time that he's talked to me about.
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  You know, the 10th of the knowledge that he actually has moving forward and
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  he's updating his game every single day.
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  So don't be scared of the tech, right?
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  But also don't go down the road.
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  Oh, I need, I need leads.
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  So boom, here we go.
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  Those lead programs.
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  I'm telling you right now are worn out just as you know,
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  close transactions are down.
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  So are the leads.
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  How do I know Zilla just raised their, you know, referral fee on the flex
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  program to 40 percent in our market.
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  So now.
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  You have to give Zillow 40%, then you have to pay the, the brokerage who's paying
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  Zillow or has that partnership with Zillow and putting a lot on the line for them.
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  And next thing you know, you're selling houses for 20 percent of the commission.
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  And oh yeah, Buyer's Agent Commission just got a whole lot harder and
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  a whole lot more confusing and it's not an auto draft anymore.
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  And so, what are we really looking for these leads for?
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  Right.
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  It's about dialing in your sphere, talking to people, having
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  conversations and providing that value.
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  If you do these things, if you take this time, cue forward, it's going to
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  be seasonally slower anyways on top of, you know, a crazy amount of interest
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  rates and inventory and all the news take this time to really dial it in.
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  Take this time to set your goals, but set short term goals, right?
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  Drives me crazy that all of a sudden we're talking about setting goals in
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  September now, and goal setting and all this stuff, because there's nothing else.
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  What that tells me is that those people have written off Q4 of this year, and
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  they're hoping that You know, they're waiting for the interest rates to lower.
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  So they're like, let's set goals for 2024.
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  No, here's the deal on this channel We will go through goals.
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  We will talk about my process.
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  We can even do a live workshop if you want that give me a Goal setting
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  workshop comment below or send me a dm on instagram the re agent playbook And
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  I will create a goal setting workshop.
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  We can do it live When the time comes but if you're setting your goals for
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  2024 and you're forgoing 70 or 25 percent of 2023 You're missing the boat.
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  And so that's where You have to really dial it in see who you're aligned
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  with Are you aligned with the right people if you are not I promise you
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  That there is an alignment within our group, within the Wolfpack, Mike
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  Schrader, Louie Gault, myself, that will absolutely change your business forever.
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  So I would love to talk to you about that.
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  As always, if you're just like Jeremy, I have no idea what you
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  said, but I want to talk to you.
• 12:02
  I want more of that sauce.
• 12:03
  Book a realtor game plan call.
• 12:05
  We don't have to talk about EXP in that.
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  But if you do have interest and you're thinking about changing brokerages boom
• 12:10
  hit me up would love to help you Make that decision and see if it's a good
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  fit here or help you find another one P.
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  s.
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  My dad's a managing broker of another company And I I absolutely think that
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  the right fit for a broker Is of utmost importance right now, because if you're
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  not leveling up every single day, and you're not surrounded by the very best
• 12:30
  in the industry, you are putting yourself at risk of being one of those 87%.
• 12:36
  So I hope this helped.
• 12:37
  Please share the show.
• 12:38
  Let me know what you think of the podcast.
• 12:39
  Let's get some more conversations going in that community.
• 12:42
  And I can't wait to talk to you soon.
• 12:44
  As always, like, comment, subscribe.
• 12:46
  We'll catch you next time.