Unlock the hidden truths behind real estate commissions and discover strategies for navigating the industry's evolving landscape with insider John Story. Our riveting discussion sheds light on the recent National Real Estate Association settlement's impact on real estate, empowering both agents and homeowners with knowledge about commission negotiability. We challenge the status quo, scrutinizing the effectiveness of real estate teams and the reliance on lead generation platforms that may not deliver on their promises.
Dive headfirst into the murky waters of real estate misinformation with us; dismantle the myths surrounding that infamous 6% commission rate. With John's expertise, we peel back the layers of the industry, revealing how realtors must now compete not just with each other but with clients' growing savvy, fueled by online resources. Our conversation pivots to the real investment required for success — not just financial, but in relationships, branding, and adapting to technology that's reshaping the industry.
Lastly, we leave no stone unturned in examining the real estate profession's future. John Story imparts wisdom on the value of transparent business strategies and the importance of reinvesting in one's growth. Be inspired to reevaluate how you approach client service, embrace change, and cultivate genuine connections in a landscape where being informed is just as critical as being influential. Join us for a session that promises to redefine how you view the business of buying and selling homes.
Key Factors Podcast is Powered by ReviewMyMortgage.com
Host: Mark Jones | Sr. Loan Officer | NMLS# 513437
If you would like to work with Mark on your next home purchase or as a partner visit iThink Mortgage.
Unlock the hidden truths behind real estate commissions and discover strategies for navigating the industry's evolving landscape with insider John Story. Our riveting discussion sheds light on the recent National Real Estate Association settlement's impact on real estate, empowering both agents and homeowners with knowledge about commission negotiability. We challenge the status quo, scrutinizing the effectiveness of real estate teams and the reliance on lead generation platforms that may not deliver on their promises.
Dive headfirst into the murky waters of real estate misinformation with us; dismantle the myths surrounding that infamous 6% commission rate. With John's expertise, we peel back the layers of the industry, revealing how realtors must now compete not just with each other but with clients' growing savvy, fueled by online resources. Our conversation pivots to the real investment required for success — not just financial, but in relationships, branding, and adapting to technology that's reshaping the industry.
Lastly, we leave no stone unturned in examining the real estate profession's future. John Story imparts wisdom on the value of transparent business strategies and the importance of reinvesting in one's growth. Be inspired to reevaluate how you approach client service, embrace change, and cultivate genuine connections in a landscape where being informed is just as critical as being influential. Join us for a session that promises to redefine how you view the business of buying and selling homes.
Key Factors Podcast is Powered by ReviewMyMortgage.com
Host: Mark Jones | Sr. Loan Officer | NMLS# 513437
If you would like to work with Mark on your next home purchase or as a partner visit iThink Mortgage.
Welcome to another episode of Key Factors Podcast. I'm your host, mark Jones, and we are powered by Review my Mortgage, the largest index of mortgage programs in the nation. And lately, guys, there's been a ton of chatter about an email that most realtors received over this last week regarding a National Real Estate Association settlement. I guess you guys probably believed that they were going to appeal it and fight for your behalf, but unfortunately unfortunately, they reached a settlement. So how does that change things? Who knows? There's plenty of things that are up in the air, but I'm bringing along a friend of mine, john Story, real estate coach, out of Arizona, to kind of help me dissect some of this stuff and give some opinions on this. So, without further ado, let me introduce John Story. John, what up, dude?
Speaker 2:What's up, man?
Speaker 1:How you doing.
Speaker 2:Living life, man Living life.
Speaker 1:I hear you Staying hustling huh.
Speaker 2:Always, every day.
Speaker 1:So it's been a little while since we have caught up, because we're both grinding, of course, and since we spoke, I've jumped back into production. The world needs more lenders that know what the hell they're doing, so I'm here to give it to them. That being the case, man, are you hearing anything? What's going on? Matter of fact, let's stop. How are things going in your neck of the woods? What you've been up to?
Speaker 2:Right, man, I mean I don't really worry about it because this is what I coach on. When I put out a post and you reach out to me, I've been telling people they had a bill of value in a brand and over the years I've always said why would I pay you $15,000, $20,000 to sell my house when you don't have any systems? And all every realtor is going to come back with the same thing. Right, but they all have the same thing. It's a weird market to where I mean, in real reality, why would you pay somebody $20,000? I mean, consumers now are aware that they never had to actually pay you the percentage. That's just they didn't realize that commissions were negotiable. Now they all do. Yeah, that's true. My phone's been blown up with consumers that have just actually closed on homes that I know personally and they're like can I go back and sue my realtor? Wow, Wow.
Speaker 2:And what is?
Speaker 1:your response to something like that?
Speaker 2:I just said, when you signed the disclosure payment paper on what it was, did they explain it? And this is where it comes into the thing. Like they didn't have video that walked them through, they didn't have YouTube with an academy that walked them through on buying or selling. Like I preached on to my clients, they went with these so-called I'm the top real estate coach in the fucking world type shit and all they do is about turn and burn versus what's slowed down and build a really good system of brands. When people research you, they know what it's like to work with you. I like it, man. I laughed about it because I called it that this at some point. You're not going to get paid these astronomical commissions Like listening LA and New York shit, the money they were making. People just thought that's what it was. I'm like. I mean.
Speaker 1:And it's funny that you say that I actually have that written down as something to talk about which is kind of the Northeast West versus the South, in the sense that I'm here in Texas. Our average values, our average sales price, is around 300. Whereas if you go to a New York, you go to a Seattle, their average sales price is around a million dollars. And that begs the question are they being paid too much? And in some cases my answer to that is yes, some cases not enough, I mean. That being the case, what are your thoughts on that in regards to the value of what they're trying to provide? And the reason why I say that is, I had a really good discussion with Ken Perry a couple of weeks ago and he was talking about how, if I were to sell you a pair of shoes and they were free shoes, no problem, but then if I'm having to pay for those same shoes, but those shoes are seven grand, you better show me what the hell the value of these shoes are before I start stroking a check. You know.
Speaker 2:Yeah, man, it's so different. I mean, when I do my seminars, I treat them like an open house in the sense like here's what I bring, here's where it is. It's weird that you say that because, coming from a coaching different side of that, realtors are broke dude. They get their commissions and they're just seeing how long they can live to pay their bills. And I've been asking that and I ask it all the time. And for my coaching fee, which is, I would say, probably the best in comparison to what you get for value, how many realtors will tell me they can't afford it? Yeah, or I'm going to go to this brokerage because they give free coaching, or we're going to get on this every week mastermind bullshit that all they're doing is talking about stuff. There's no like. Really. Here's how you guide through on where it is and I think that's where it works. And you know there's too many. I'm not.
Speaker 2:Look, I stand my own lane, bro. I'm good at what I do. I've taken clients to do over a hundred plus transactions that we're doing 20. And people, look, you know, from five to 20 million building out systems, social media, everything like I just stay in my own lane, bro, like I haven't been doing this for so long, since I was 12. I started building homes and understood land development and, and you know, subdividing land and what it goes into it and the and the takeouts and what it. You know a lot of people like, oh, it came from the industry a title. That's not true. I started building homes when I was 12.
Speaker 1:Right, right, I remember that.
Speaker 2:Yeah, the loan processes of everything and new build and residential resales through my stepfather that was, you know, a very, very smart man at the time. But you know every realtor is going to think that they're worth it. Or I'm not going to do it Cause you know, prior to this there'd be you'd hear in these forums like oh I, somebody wanted me to list the house for this or whatever. And they're like I would never well, bitch, please you. You're going to take five grand, that's right.
Speaker 1:Never. They never are always. That's right.
Speaker 2:Well, let's go back to you know, oh eight, oh nine, when good faith estimates change the mortgage world scenario, then what happened then? It's happening now to them. You know what I'm saying. Yeah, Because, you guys, in a sense, are a 1% origination right. You're exactly correct, I would be opposed for the real estate agents to have the 1% origination, but keep it at 1%.
Speaker 1:Yeah.
Speaker 2:That's why I felt that they were overpaid is going, you know, coming from the title issue, we're getting paid peanuts.
Speaker 1:Yeah, you're exactly, these guys is commission checks.
Speaker 2:And you know, for me, as a coaching, I have to have hundreds and hundreds of thousands or thousands of people in my coaching to make what they're making, which I do.
Speaker 1:Right.
Speaker 2:Also, I have the value in the brand. That's why people don't leave, but it's just everybody's going to have their take on us. I think realtors are definitely overpaid. I think you know with, I think there are some amazing people out there that have great talent that I feel do earn the pay that they that they would, you know, want to put out there in a sense. Right, right when you go off the marketing where you say the million dollar listings or whatever it is. That's just common.
Speaker 2:Now Back in the day everybody wanted to be a million dollar listing agent 10, 10 years ago. Now everybody has a million dollar.
Speaker 1:I default. That's exactly right.
Speaker 2:But it's, they don't put money into it. Like when you look at like I was saying a million dollar listing LA, they're like, hey, do I spent 30 grand on marketing for this property? I know, realtors, that they don't spend shit.
Speaker 1:They take pictures with your iPhone.
Speaker 2:They're paying for everything. I mean it's going to be interesting, it's going to take a minute, but my personal thought is I didn't think the consumer was going to react as fast as they did.
Speaker 1:Ah, good point on that. Now, now can you? Can you, I guess, go deeper into that concept in itself, because I think that's something that we were not aware of. But of course, you've got social media in addition to media, and I'm going to kind of cap this off, after you're done here, with something that is a little far fetched, but something to think about. But go ahead.
Speaker 2:Well, I recently had a friend. She bought a house, right, she, she, the house that she listed sold. Obviously they read, but she, you know, she advertised whatever was and kind of had a mutual realtor that we knew and then went on the representation of the purchasing a home. Well, they're in the home they wanted because it was a family friend's home and you know it could be two parties where it was. But the realtor expected to make $40,000 on a house that they already they're like. Dude, you just have to write a contract.
Speaker 1:You're writing a contract, yeah.
Speaker 2:So they wrote, are still made $20,000. Wow, this person's going well. This is. This is interesting. The person said can I go back and sue my realtor? Because when you look at the lawsuit that got settled and now this got settled, now people need to really be educated. The reason that NAR settled is because they were giving direct line access to the big dog people that sell leads and they were also doing it because realtors and not everybody. Okay, and there may be people like, oh, I've never heard of that or whatever, but this is what happened is that when they weren't getting their 3% commission representing a vinyl listing, they were shadow blocking the listings that weren't paying that.
Speaker 1:Yep, that's exactly right.
Speaker 2:That's why I'm saying, hey, we don't need to see this, let's not see these ones, because they're going to get paid more, which pigs get fed, hogs get slaughtered, but goes around in a sense, right.
Speaker 1:I said that the other day and you were on the one.
Speaker 2:That's right. I mean, people can like what I say. I don't. But guess what? I like to sit down to mastermind. I'm 2-0. I predicted that Zilla was going to come out and be your competitor and never sell zip codes. Guess what they did years ago. Now I take 40%. Now you take these mega teams that are Zill, high production or cold calling production and that take 50% of a real estate agents commissions, when now they're not going to get 3% or 2%, let's just say they get 1%. So instead of making 12 or 15, let's say they made 15 grand, now they're making five. We'll put that in half. Now you're at 2,500 plus your other fees. You're going to start getting paid $1,000 to write a contract and go see these alms versus that other money, these teams that have high, astronomical overhead, even they're going to be the first people to hurt.
Speaker 1:Absolutely yeah.
Speaker 2:And I know some people have, I mean redonkulous overhead dude, and I've told them for forever you got too much overhead. No, no, it's a team or whatever it is. And hey, I'm sorry, but in a sense I told you so.
Speaker 1:In addition to the amount of leads that they have to bring in to feed that team that they've grown at this point, I mean, are you out there marketing to your direct book of business? Are you the ones that are buying the leads from Zillow to keep your team continuing to grow? And if so, then you're part of the reason why this is all happening.
Speaker 2:Well, yeah, I mean. So you look at statistics right, and in Arizona we're the hub of where all the iBuy or stuff starts, because we're like an island and then it goes out. So I kind of, in a sense, have a little bit better.
Speaker 2:A little first night that has gone on and what's going to go on. But I know these big mega teams here. They may laugh and say, oh, he doesn't know what I'm talking about. Well, I knew what I was talking about when Zillow called you one day and said instead of giving you five deals, they're going to close the month and it's only seven grand. We now take 40% or 35% of your commission. I told you there too. I told people for forever. You're going to at some point have to validate why I'm paying you 15, 20 grand to represent me when everybody else has regulated in a sense.
Speaker 2:And these forums that I'm in are ridiculous. I'm already reading it like oh, it's already started. Whatever it is, it should have already been this way. Like there's no fucking way that you should have been paid the amount of money you did. And then you know and that comes back to why you know stop talking about your 1% and your awards. Maybe you should have talked a little bit more about how you actually bring value and help your clients like I do. Look, I'm not successful and I would still not be in business to where I am today and still scaling and doing some of the cool things I'm doing now If my stuff did not work.
Speaker 1:Correct, correct. That leads directly to the value that you provide, the value that these realtors that are talking about their commission on social media. Instead of coming back with the value, I think you said it best a while back when you mentioned anytime you're doing anything, press freaking record. You guys are having to recreate the wheel every single time you do something. Why not press record, catalog it and put it out there for people to actually see, so that when it comes time to validate your value, you send them directly to the site or the page or what have you, where you've got your content and they know. But all the while, you've been showing them nonstop that this is your value. This is what you get when you are being hired as the realtor to represent them, whether it's on the buy side or the list side. Now that begs the question of whether the buyer's agent is going to eventually be absorbed by the listing agent teams, because if that is the case now, this is not saying automatically commissions are going to drop.
Speaker 1:I think a lot of the headlines are talking about the 6% commission is gone. Well, there was never really a set in stone 6%. It was almost something that was a given, but now it's in the forefront and there is no given. Now it's all negotiable. Everybody knows that it's negotiable. I don't think that that is going to go away, being that it is being publicized so much, if that makes sense.
Speaker 2:Yeah, I already knew how to transition this. I've had a few years of working on it because I've got a client in Washington and she's already been having to deal with this. On a contract they have to write differently. Here's the problem in our industry that I see right now there's too many chiefs and not enough Indians. There's all these people that get on, these masterminds and volume of whatever it is. We keep talking about it and they're saying all these things, but at the end of the day dude, it's an interesting persona that people are getting misinformation. Absolutely, keep going.
Speaker 1:I'm just asking you yeah.
Speaker 2:You went there and then gone. All these big teams are whatever to say the same thing oh, we've got our conversion and we've got an email campaign and oh, we've got leads. Let's do this one statistic that people are not aware of they did a study prior to 2023 launch and there was 185 million leads that real estate agents bought in 2022. 130 million came by the same company, zillow. There was about 5.6 to 5.7 real estate transactions residential resale in the United States of America. Do the math.
Speaker 1:Where the hell is it? That's right. Zillow's making the money.
Speaker 2:Yeah, but that's the thing is, because why do people have to be on teams to buy leads or get Zill leads if you actually use social media to the benefit and created what I coach on Dude, if you have 500 friends on social media that are not realtors? Now here's the problem. The other thing realtors have FOMO, bro, fear of missing out. They can't not be friends with their colleagues. Fuck that. Algorithms are important and when you're friend requesting, engaging like dude, here's the thing I'm going to smash on some dude People put these people up on pedestals because they have social media. Right, oh, they're getting all these likes and I'm like. That doesn't mean they're closing deals.
Speaker 1:Right.
Speaker 2:There's a person that proclaims himself some, and I don't know his name or whatever was, but he was on all these showcases and all of this. Look at his content. It's going viral. He closed seven deals in a year.
Speaker 1:I think I know who you're talking about, but I'm not going to say it because he's not even working yet.
Speaker 2:No, he's not. No, he's not, but these are the people that are giving real estate agents advice. Look, I have a formula, literally in my coaching. Here's a tire and tire checklist. If you do this and build it, you will do 100 transactions a year. Why? People that do it and follow that. You know what? Right, if you have some realtors are. When I tell them about how to do this, their first thing is that's a lot of work.
Speaker 1:And it's funny that that is the response, when the answer or the rebuttal to what they just said is don't you get paid 3% commission? I mean, it's full circle of what we're talking about right now and what they're attempting to fight against, but yet most of them don't know what it's what or why it has been done, and I guess it it. I don't know if it bothers me or if it Confuses the hell out of me as to how little many realtors don't know about this situation that's happening right now.
Speaker 2:They don't. They don't. Well, because here's the thing there's too many moms clubs and dads clubs that are trying to be real estate agents.
Speaker 2:Mm-hmm and I'm just gonna do this part-time along with my other job and make that and you know what? It just disrupted industry because they're taking those two, three deals a year that would go to somebody else that Actually does treat it. But I don't think a lot of look, I don't think a lot of realtors in a sense treat it as a job. They, you know, if they did, they wouldn't be going to all these masterminding events like we're gonna learn, and let's tag all these realtors and get these realtors on stage and, you know, let's have the, you know, you know the lending side and the title side, that's top producers on a panel that are literally in a sense lying to you. Because, you know, if I was a realtor and I was going to these things, the first question I'd have is what's your monthly overhead?
Speaker 1:mm-hmm.
Speaker 2:Because what they're not understanding is that at a minimum, it's 20 grand a month for these people to run their team. A minimum minimum guys. I know people to have $150,000 a month before they make a dollar, but how many realtors really have an extra 20 grand a month, a quarter of a million dollars a year, just before they make a dollar?
Speaker 2:Correct and and that's what's wrong is people to do it? Look, I tell people like my overhead is very low and I run my company with zero employees. I'm extremely efficient, I'm relatable to a normal person, correct, playing golf all the time. I'm with my kids, I'm enjoying my life. But I Just think we're dude. They it's like a circus show. Yeah, it's like. You got a bunch of people and I'm not saying I think they do great there. Obviously they're making their money, but they obviously don't know how to run a business if their overhead is that higher. Ready.
Speaker 1:Well, I I think you've got a great point there. I don't think they treat it as a business. No, they treat it as a job, not a career. They treat it as a job, not something that can be scaled, can be fine-tuned To the point that there may be some teams out there that do very, very well under this new regime.
Speaker 2:I think they're gonna be fantastic. Yeah, that's it, but it's, it's the same thing. It all starts with the people they're getting their advice from when they start and want to scale up right, because these people say we, we collaborate, or whatever it is right. And then a lot of these real estate coaches when you see them put them out there, all it is is like numbers, numbers, numbers, numbers. So they're like and I get it. You got to spend money to make money, but spend money on the people that actually built your company. These teams are spending money, okay, on people. They don't know leads right. They don't do client appreciations, they don't do giveaways, like I talked about. They barely touch their clients. Look, I have people that were my agents. I Haven't heard from them right.
Speaker 2:I see them on social media. But you think I get like a hey, we got a cool raffle or a client appreciation event going. When I made them on one of Myselfs years ago, 20 grand, you know. I've gotten from them, jack, shit nothing. But they want to brag that they got all this thing. No, because they're. Look, there's three tiers of how we do business. We've got our past client, our present and our future. Okay, they focus so little and they say that oh I, you know agents, oh I run my business of a lot of SOI. Well then, why aren't you closing more business if you've been in it 20 years?
Speaker 1:Good point.
Speaker 2:You know, I don't people that were did a ton of volume. They don't want to listen. And I told them straight up to their face I go, you're just not coachable. Well, yeah, I am. I just don't you know what. I go, yeah, you're two numbers driven with the people that you're around because you see this Limelight that they're gonna do all these things.
Speaker 2:But I'm telling you, bro, these teams that are out that were solely based on Zill leads and all these things, yeah these agents under them Aren't going to wake up until they realize their paycheck is gonna go there, because Zill can't go go to a client like, oh it's two percent, no, they're gonna negotiate the deal.
Speaker 1:That's right.
Speaker 2:And I I don't think you know they're. They're saying that the sellers are gonna control or listings are gonna kill. No, we still control it, but the consumers have always been in charge. This is interesting. This consumers have always been in charge and was always been able to do that.
Speaker 1:They didn't know that they were fully in charge right, right, I agree, in addition to the uproar of social media being this glamor position of a writer, you're the ones making all of the money. And I think I had spoken about it about a week ago and I've got a really good discussion with some top agents, one listing agent, one a broker of a mass group and another that is built his business on rebating customers. So we're gonna have different perspectives on that. But the idea behind Building their value, showing the value to the consumer, it it got put on the back burner by showing what you've, what you can buy, with what you actually closed, essentially being a top agent, and I believe that that has a lot to do with why these consumers are going fuck these realtors. We're gonna go after them because we don't have the ability to make that kind of money. We don't have the ability when in all true reality, they weren't making a ton of money, they were just flashing and doing the whole.
Speaker 1:What is that called? The? The clout, clout chasing, essentially, and thinking they were gonna get business from that, and Maybe they did, but it was in a time where everybody was getting business. It wasn't your post that got you more business, it was the, the barns that you were in. You know absolutely. Yeah, if you fish in a, in a barrel, you're gonna find some fish.
Speaker 2:You know the post I'm talking about, so does everybody else that one where it says and it's like so long, with all what a realtor does, blah, blah, blah, blah, you know. And now that's coming out because of what it is.
Speaker 1:Yep.
Speaker 2:Hey, welcome to being an entrepreneur, karen. That's right. That's right. I have the same. I have the same problems that you do. You don't see me going.
Speaker 2:This is what it's like in the cost of being a real estate coach. No, it's my job. I knew what I was stepping into. I knew that I was stepping away from basically, in a sense of corporate jobs. I didn't want to work for somebody, not of the day, but at the end of the day. This is called you're. Now we have to be run a business in a sense, and it's just weird, man. I mean people are gonna have their own perception of what they think it's gonna be. I think it's great for the industry, because I do think that people are overpaid and I didn't agree with that when People were having their home prices go up to what they purchased and they earned and they put money into it and Fixed at the backyard and stuff that a realtor is now gonna get a percentage of that. So they don't understand it. Like every dollar you put in, just know. So let's just say, your house payments, you know $3,000 a month, we'll just know your realtor's taking 3% of that every month, like how does that make sense?
Speaker 2:Wow, I think of it as that. You know like, hey, I worked my ass off in a job nine to five in a cubicle to save up a hundred grand and I'm going to put it in my backyard. But hey, guess what? The realtor gets 3% of that there. So just know, three grand of that hundred grand you put anything, you might as well just give them your realtor check. That's what's happening, Wow.
Speaker 1:And you know what that is such a lame he's just thinking of it that way.
Speaker 2:Right, like why? So the price went up so I need to pay you more. Okay, because when we bought the house it was this price. Now, five years later, I want to sell. I'm not sure it went up a couple hundred grand, but that's my money, that's not your money. You didn't make my house payment and vacuum it and do the upgrades and the upkeep and shit. Now I'm paying you.
Speaker 1:Yeah. So, why don't we just go back and say hey, this house was bought for 150 grand.
Speaker 2:Okay, your commission is 45.
Speaker 1:Dude I just think you know. I like these lower From your perspective, right there, in that line of questioning that line of thought process from a seller's mindset, what would a realtor be able to combat with that? Because that is the truth. I mean, all this money I put into the house, value's gone up, it's time to sell it. I'm reaching out to the realtor that helped me before. How are they going to justify what you just articulated? Does that make sense?
Speaker 2:Yeah, but the consumer wasn't educated. Just think okay, now we need to understand this. It's not just the seller that's going to pay for it, the buyer is paying for it too, because of how that seller represents them or the buyer represents them. So it is two parties, Just like when people are like oh, it's a buyer's market, it's a seller's market. There's no such thing, because you need both parties to represent a transaction to come through. So when you say that stuff, it's totally false. But that comes back to the value brand. But it also is like dude, put yourself in their situation.
Speaker 1:No.
Speaker 2:I tell people all the time I go hey, let me give you an analogy 20 grand a year to get coached by me one-on-one, but I will guarantee because that's what I can say that right, right. But now let's just say that it's 20 grand, but every time we get on a call it's the same thing. I don't follow up with you. Our call is kind of all over the board. I don't have the training academy that I told you we're going to walk through. I don't know how to do YouTube and statistical things. That's why I have all these people. Help people. Isn't that how a broker really runs? Like a realtor runs their shit Because they don't know, they don't have YouTube, they don't have systems, they don't follow up with their pass clientele. When I tell people that, immediately I said if I don't have all that stuff, would you pay me or would you fire me, even for my subscription fee? That was small and then I got fired. You go now think about it. Do you have all that? No, think about it.
Speaker 1:Yeah, then why are you able to justify your 3%, 2%, any percentage, if you can't give that value, the basic value that it takes to thrive in this career path? Man, I think you hit it right on the money there.
Speaker 2:Here's the feedback I get. I have experienced they need this. Look at my listing packet that everybody else has. Look at my marketing plan that everybody else does. The only reason they're going to pay more is you. What do you have to value besides your realtor? Because you're not the only realtor, Right, You're not the only person that's going to represent them. You may not be the only realtor that they know Correct.
Speaker 2:When you go into your room and you talk about, hey, this person's going to do it for five, well, they're just a discount person, so they're not going to really do all the things Really. Because, who's to say? Because you don't have the shit built out that I talk about anyways, Good point, we thought it was crazy. But where's your buyer's academy, your sales academy? How come I have to keep calling you to get a question answered when you should be proactively having marketing campaigns to go out to where?
Speaker 2:Here's an appraisal time. Here's a video that walks you through. An appraisal comes in low, high. Here's what we do. Here's how the denim works. Here's an earnest money deposit to explain what it is, how we would get it refunded, how we won't. So we're not disputing it Absolutely. These are the things that realtors don't have. No, they have it up here. They do, they know it, but it's nowhere to be found, Right? But when you say let's get them all in a room and be like, why would I pay you, You're going to find out. They all, all these collaboration people all have the same thing.
Speaker 1:Yeah, and I don't think that time in the industry is a justification for any of that. Matter of fact, over the weekend I had a listing agent reach out to me on one of my approval letters. It was a VA buyer and her first thing to me was you guys are asking for $7,500 in closing cost. My sellers say that they didn't have to pay any closing cost with when they bought their home. So they're saying that there is no closing cost with a veteran. And I went okay, wait a minute, ma'am, how long have you been doing this Like can you look back at other transactions that you did to tell me that one of your VA buyers where all of your VA buyers didn't have any closing cost instead of listening to your sellers, you be the expert and let them know that every transaction has closing cost period, whether you're a veteran or not, and jumping off the call, I look it up and I'm going wow, she's been in the business since 2019, before everything went up.
Speaker 1:So it's like it doesn't matter how long you've been in the industry. Matter of fact, I would even go as far as to say it doesn't matter how many transactions you've done, because, let's face it, you can get through plenty of transactions just going through the motions, especially when it was 2020-21. You were right in a contract getting it over and on to the next. There was no process of let's make sure that we go through all of our checks and balances so that I can prove my worth to you, and you're going to send me referrals as soon as we're done with this thing.
Speaker 2:Well, it comes back to that they had three years of creating bad habits. 2020 and 2020, whatever. Things are just flying off the shelf. People have the consumer head FOMO of like I need to buy now or whatever, but we install the fear in people and then they don't understand. But this one is actually getting pushed out more from the real estate social media, but also the news. The news, and then you look at 2023 was the lowest transactions that had been in how many years? Right?
Speaker 1:Okay.
Speaker 2:And how come my client closed 100 deals a year before, so closed over 100 deals.
Speaker 1:That's a good point.
Speaker 2:My systems, my touch campaign, my value that I coach on. That helps people and it's just dude. It's the lack of inconsistency is why people are not successful, like they don't. You know I don't call in our household chores, that we call them critical tasks. So I'm training my kids. As an adult, you're going to have critical tasks you need to do every day to be happy. Number one be happy. I think that's a lost thing, you know, or? But like you got to feed, you know, do your chores and whatever.
Speaker 2:Because when you're older, we become adults and we live in a really weird society to where people that are actually our clients not for, say me, but per se, like an actual consumer that's going to build, is that? Look, man? They're told how they're going to live their life, the cars they drive, the lifestyle they're going to build, all off the job that they chose, and that job also describes the home that they can buy. It may not be their dream home, but it's something that they're going to be proud of. And instead of us making them this high end person, we make it about us like oh look, I have four in a contract and two sold and whatever, but you still didn't learn.
Speaker 2:The number one thing is your clients are all asking you questions and you're not building systems to be able to be proactively ready for the next buyer, the next seller, the consumer that's coming to your page going how do I get started? What it's like to build, what's it like to sell and I think that's just a lost art that we have in our industry is that we pay my clients too much, pay too much attention to these people going oh, let's be on this panel, just go to your job, man, like you're not a public speaker. Go to your job, like why do you need to be on a panel and most of them are all full of shit. Why do you think they don't have me come to these panels anymore?
Speaker 1:Because you told too much truth.
Speaker 1:That's what I think they don't like to be dude, I mean I the first time I met you, you were given that presentation to RD Realty and I was sitting further back and it was like, okay, this guy knows his shit and he's not scared to let you know that you're doing great or you suck and you need to step your shit up. And instead of somebody just saying that you've built something that backs it up, that says, okay, you need to do better, because your shit sucks right now, but here is what you can do in order to get better. Now it's up to you to go and do those things. It's always going to be up to that individual to help move their career path forward, to justify their commission, to streamline their profile.
Speaker 2:That's the thing. Bye, that's all realtors. I'm going to justify shorty be there, yeah. It should justify it. Shorty be there, yeah, and that's their mentality.
Speaker 1:Yeah, because it has been inherent this entire time, but now it was just a norm.
Speaker 2:It was just a norm that you're going to get paid, that. And I told people it's not going to be the norm. I mean, you know, and when I was at that group they didn't like it. They're like, well, you know, you know, you notice, I'm like I ain't changing the fuck. I am bro, I'm going to stay successful. And I said and I had somebody the other day that was in a class or saw me online or whatever it was, and it was real to go like, wow, man, like you're really direct into the point and like I don't know if I can handle that and I said, well, apparently you're not direct enough because you've only closed three deals in the last year.
Speaker 1:I'm still making my money.
Speaker 2:And I said I go, I go. Did you ever look at my? Did you ever Google me and look at my reviews and everything like that? Every one of my reviews, every single one of them, is a five star. You know I lost cause Google's. You know I got a screw up and a glitch a little while ago. But every single one of my reviews says he's no bullshit, no sugarcoating. But if you actually want to build a business of consistency, to be happy everyone of them says that they want they're happy. All of them say they're getting deals, they're killing it right, yeah, but they all starts with he is no nonsense. Why? Because, dude, we don't have all the time in the world to go do things. I'm not going to take 20 minutes to hand out awards.
Speaker 1:No, you're on your top.
Speaker 2:Live a really good life, learn to be happy which I think most people aren't and just have fun doing it.
Speaker 1:Absolutely.
Speaker 2:This is an experience for your clients, not an experience for you talking about you.
Speaker 1:That's right Talking about you.
Speaker 2:That's exactly correct, it's about people that help you. Like I'm not business because I'm good at what I do. I just know what I'm good at. I can help people be better at what they do and realize that guess what you can make it in this industry. But you have to be committed.
Speaker 1:And, let's face it, there is too much fluff, not just in this industry, but in all industries. Oh yeah, being direct and transparent and leading with what your value is and how it's going to portray to others and how they can get into the same value proposition to run their train as far and fast as they possibly can is something that a realtor should gravitate towards, but instead some are turned off by that. In my opinion, it's like well, what is your mindset then? What did you get in this business to do?
Speaker 2:Yeah, I mean they'll love all the other big entrepreneurs who go to their events and read their books. I tell people all the time I'm like let's take example to 75 hard.
Speaker 1:I like that. Yeah, go ahead.
Speaker 2:Let's take the example and I'll tell people. People are like oh dude, I just completed the 75 hard. Now I've done it twice. Okay, I also used to compete, which I think is harder than the 75 hard it is consistent, absolutely.
Speaker 2:But I asked people that are realtors. I'm like what'd you learn? Oh, you know I can do this. I'm like, okay, well, tell me the process you leading up to wanting to do the 75 hard. I wanted to create consistency, whatever. Okay, I think that's great. I'm like what do you mean? Well, andy has a podcast that he wants everybody to listen to that talks about the explanation of the 75 hard. Then I said, well, did you order his book? What do you mean? What book?
Speaker 2:The power list where it talks about did you win the day? Did you not win the day? Did you take the five things on the list after 29 days? Did you substitute it? Did you do whatever it was? I'm glad you drank your gallon of water and your two workouts and red 10 pages. Whatever it was teaching you that you can't even follow simple instructions on how to begin a concept.
Speaker 1:Yeah.
Speaker 2:All of them at the 75 hard post. Here's what my body looked like. Here's what it looks like after. Here's what my brain looks like. Yes, here's what it looks like after. Dude, no shit, you're going to lose weight when you can't eat out, when you start to drink and you have an average routine and you're working out twice a day and drinking just water versus a beer or tequila, and not having donuts and shit. No shit, you're going to lose weight. But the functionality was for 75 days. You can be consistent. I said well, why don't you do 365 hard? That's hard.
Speaker 1:I mean you already started it apparently. Keep the training in.
Speaker 2:That's why he created up phase two.
Speaker 1:Yeah, you're on money. You are on the money with that. I believe it. I have not done the 75 hard yet, but I do understand it. I believe in the philosophy of it. I understand that it is more than just let's lose weight. No, let's change your lifestyle, let's change your mindset, let's put you in position to where, once you're done with this, you can choose to continue, but hopefully, what you learn from this you can apply towards your everyday life and business and family life and everything that you do. I'm a huge fan of Andy and think that he's going to go very, very far, and I'd love to see what he has to say about this concept, because I think he'd just call them all a bunch of little bitches, to be honest.
Speaker 2:Yeah, but I mean it's funny that. So let's flash back to when I was at an event with you. You know what I get now, I'd say over the last nine months, lately. Thank you, thank you for being. I leave now events versus people being like fuck that guy, because it was the best years. They ever were right, they were going to sell, but now people are like dude. Thank you, I needed to hear that today. You made me feel like I have the talent. You explained it in a way. I'm like, yeah, but I've always explained it that way. The difference is is that you're not making the money that you used to your skill set. With all this information you took from people Didn't pan out to work the way that you wanted it to. But the third thing and this is where I can say I made a switch from probably when I met you to whatever. Are you happy?
Speaker 1:Good point.
Speaker 2:When I was traveling all over the world and making more money than I do now and I do very well I wasn't happy, dude. I was a lost soul. I was the epitome of the realtors on stage getting petted. Take pictures with me. I'm flying here. You got to have these all-ha moments, dude.
Speaker 2:I think it's really important that people want to understand this podcast, who I am 22 to 23 days of the month, I was flying and not home in my own bed. I have a 13, 6 and 5 year old and I wanted to know how to pivot that. Now I have more one-on-ones that I take and I now do broker packages that are launched this year. My subscription is not obviously as high, but you know what? I'm making more money, in a sense, when I pivoted, but now I'm gone possibly only eight days of the month and I'm home 22. So I flip-flopped it. Well, that should tell you that I know how to run a business to keep my ROI sustainably high. Now, when I was gone 22 days of the month, I was obviously working a lot more. Now I've got it down. These are where I make my money, not social media, whatever but the money I make takes 45 hours a month.
Speaker 1:Hmm.
Speaker 1:And I would also go as far as to say that the journey that you took, doing the road shows and whatnot was a necessity to get to where you were, to where you are now, because it was a phase that you had to go through and you being the person that you are, instead of just going through that and, at the end of it, going, okay, let me take a break, and then let me get back on that, you went no, I've already built my brand, my reputation, I've built my exposure. Now let me leverage that. But in order to leverage it, let me put my business plan together. Let me put together the phases in which I'm going to generate revenue, I'm going to be able to allocate time towards these individual people, groups, et cetera, to keep that train moving, and eventually you'll have to do maybe another road show down the road to increase that business again. Then you'll get back to what you're doing because you've now created an equation that works.
Speaker 2:Well, it's like you're a. You know, many people have asked me when I'm coming back. I said when somebody flies me out or set up an event.
Speaker 1:You asked me that when am I coming back? You're like when are you getting your hands back, Whenever you want to send me?
Speaker 2:out. I mean, I'm flying everywhere. I'm still doing all the things that I used to do. It's just. I would say too, I'm more conscientious about what I put out for content, to make people know I like to do them a grind, but, like last week, I played golf a couple of times. I didn't put it. I didn't put it out there. I put it out there. You know what I mean it's, it's uh, intentional.
Speaker 2:I think, uh, I think we're just in this world where we go to these events and we see these people like dude. That's why they're at top 1%.
Speaker 1:Yeah.
Speaker 2:That's why 99% of the world, with what they do, pays to the friend. That would be the 1%.
Speaker 1:It's exactly right.
Speaker 2:Let's be real. Okay, and it's interesting that some realtors would be like, oh, I'm top 1% and I pulled the numbers and, like you made 150 grand. How the fuck are you top 1%? Yeah, and I think because the state said that they were, or their awards at the brokerage. It's just dude, this is just. People should wake up, man, and really realize, like you, you got to run a business, you got to do things correct, you got to uh, if I was a real to die. I tell them, like, why are you joining? These teams are going to take 50% now and especially where the market is changing, and they're not going to get the commissions. I think that's one of going to be the one of the biggest shifts.
Speaker 1:Yeah, definitely.
Speaker 2:Is these big, big teams that have you know, 100 agents on them, or 50 or 60,? There's several of them here and you know what. They're all civil driven.
Speaker 1:You're correct. Here's the thing.
Speaker 2:Here's crazy dude. There's a title company here locally that's owned and he's got an investor of one of the biggest realtors here. That's a big real estate team and I'm obviously not going to name the name, but these other realtors are closing with that, not understanding like you're feeding another giant.
Speaker 1:Right.
Speaker 2:If they knew that, I'm sure there'd be a lot of people that probably not work with them anymore and that I wouldn't. I wouldn't work with a company going I'm sending you my business, you're making money and now the guy that owns most of it is collecting money not only up my transact, but now this transaction too.
Speaker 1:That's right, and I do think that the title industry is next, how long it will take to make the show.
Speaker 2:They try to do that with print and you know they're given away. They always find a workaround, a third party or whatever it's going to be. You know it's interesting. You know all these title companies and the big ones. They act like they oh, we got all these value or we got whatever. If you really did, you wouldn't have to pay somebody to be your, your, your business partner. In a sense that's true, because each part of the transaction has a different entity, whether it's from the buyer listing the mortgage, the home inspector, the home warranty company, the title, and I think it'd be interesting if they regulated that in a sense. I mean, I've got some things in the work where people want to white label my coaching and be able to offer that as a value add and they would just pay me as like a consultant, because for me I'm a third party Within their organization?
Speaker 2:Yeah, I mean and that would be smart, because let's just say you got a hundred agents that you put in there. I mean honestly not that much. But let's just say you get 20 more deals a month.
Speaker 1:That's right. Five deals per month on the whole side is huge.
Speaker 2:Yeah, astronomically good, right, but you know you look at it as a whole, like the. You know that part. They always have flipped it or found a way. But I was interesting. I was doing a class the other day and and I love the guy I was doing a class with but he's like we only have this app and we buy all this shit and our company buys up everybody above a lot. I'm like dude, my wife has the same app when she works with her stuff. And he's like no, they don't have it. I'm like does it do this? I'm like dude, literally like you're saying that just me.
Speaker 2:You're not the only one that's got it. Like I, you can gather the information, and it's like the information you're giving you. You're telling me that you're the only one that has the information of who's getting ready to sell or buy. Well, they get that from analytical data through IDX, right?
Speaker 1:Right, that's right.
Speaker 2:But you just gave it to 20 other realtors.
Speaker 1:Yep.
Speaker 2:And plus the homeowner.
Speaker 1:It's as core logic.
Speaker 2:It's like, okay, well, that's great that 20 people have it. And also, guess what? These people already know I buy our campaigns. They probably already have a friend or two that are in the real estate industry. So now you're I mean, that's your, your, your sales proposition.
Speaker 1:Your bread and butter?
Speaker 2:Yes, Well, coming from a title industry, okay, so let's talk about that. Okay, let's talk about how title doesn't really have good fucking coaching. None of them do Right. I'm a good coach. I came from that industry that knows that you can need to teach about what you open out. So just listed farming, social media, I have it. How come I'm the only one in history that's built what I built Right? And I think people built companies and sold them because they were put on stages by the fortune 500 companies that paid 50 grand free to be on stage. They didn't earn it. They were paid to be on stage. Correct, it's just.
Speaker 2:It's an, it's an interesting persona that we have of you know, you don't see me complaining going. I didn't get, I want three percent, I want 10% of all your guys is commissioned. It closes with me as a client. Could you imagine what's the difference in them making? So I just want 1200 bucks. If you're making 12 grand, what do you? You're mad at it. You got your 12 grand right, that's right. Oh, you don't want me to take $1,200 from your payment, but yet you're okay to gouge. See, this is where it doesn't make sense.
Speaker 1:And I think that what you just said right. There is something that should be asked, or at least brought up to every realtor, that is gaining value from something like coaching, something like a tool that they're using. If they were to flip that tool to becoming a percentage of their commission, would they still use the tool? Well, the answer should be yes, because they use the tool that got them the business, but then they're too good to go. I don't want to give up any of my commission for it. Wait a minute Like wait.
Speaker 2:Let me give you, let me give you an analogy of that of, like, the commissions, of where it was. So I had a client ask me about one on one. I'm like it's $1,500 a month. You know, you get three scheduled calls, you get a mastermind, you get access to me, plus all the other training, plus whatever, and I'll help you scale it out. And I said, just think you do one deal a month more and it's 15 grand or whatever. Just think I'm only taking 10%. I go. But let's talk about the brokers you work with. They take 10% or whatever. Maybe not, maybe it's flat fee, I don't know, just hypothetically, right, right right.
Speaker 2:Let's say just think Now, transaction two, three, four and five are 100% profit, because you already covered me. But the response was this is crazy and most of us will say this well, that's a lot of money to pay. I go. But what? You want 15 grand to sell a house. You want 15 grand to have a buyer. But I'm really confused. I go.
Speaker 2:So what you're telling me is that you are a liability because you won't invest $1,500 a month in you. So your liability is what you're literally telling me, basically your liability to your own self. Wow, and they looked at me and they're like I never really heard it that way. I go. Well, think about it. Every investing that you do into your company is to enhance your company. Now you know that I've taken people to do astronomical amount of business and where it is and I'm like okay, so I'm not a liability to you. The reason that you're filling your liabilities because now you're going to get called out on your bullshit of laziness more in depth, versus my subscription fee, versus the one-on-one or a consultation fee or whatever it is, but that's where they're at. They're like you know, I mean it's.
Speaker 2:You know, we had a mastermind like last month we talked about, like you know, the academy to build it out and I said how many people got it done? And they just looked at me and I said dude, you guys have had 30 days. What did you do? Like I go into man and then I flipped it on my. Can you imagine if you guys wanted me to put together something? And here we are 30 days and now we go to 60 days and I still haven't done it yet? What would you do? You all would fire me, that's right.
Speaker 2:So why is it okay for you to push out into the public that they need to pay you all this money? Yeah, you've had a month to get your shit together and a lot of things and you didn't get it done. Now I would say 80 plus percent of them are almost done with it, but there were people that weren't, and that's it's the 80-20 rule.
Speaker 1:You know, I mean people.
Speaker 2:You know people don't want to hear it, but I hopefully people when I listen to this really take like this fucking makes sense. I need to thoroughly figure this out. I need to stop looking at my clients and going, how much money am I going to make to pay my bills versus how much can I take to put back into my business. But my, my business is what?
Speaker 2:Okay, if I was to ask you, what are your business entities, you and your clients that have already paid you Absolutely and people are taught by coaches and other people to go spend money on what On bullshit. Most of the time, people that aren't people that they have no fucking clue. They are versus. If you build the people like, that's like the relationship, that's like working relationship? Yes, I work with a company you work now, and instead of you getting a paycheck, they just give it out to some random person. That's really how real estate agents run their business, and they wonder why.
Speaker 1:No, you're on money. As a matter of fact, you said something at the beginning of this that You've got realtors that are going Well. Our commissions could be cut by all of this stuff and I don't think I can afford coaching. To me, that's almost the time that you need coaching so that you can double down on what it is that you Thrive in, what you actually make money in. Don't you want to get better at what you're doing and don't you want to get better at what you actually pay the bills with? Right?
Speaker 2:Well, yeah, well. It's interesting because I think the newer agents that got in there and they saw those couple of years that were good. They just thought it was going to go like one of my buddies that helps me a lot is brad lee. No, brad lee bradley's no bullshit, he's just like me, says it how it is. That could give a shit less, but he goes here's. What's crazy, man, is that when the market's good, they need to coach more than anything, because the market's not going to always say that way. If you study history, real estate it's always up and down, just like rates. Where they talk about rates, dude right Rates in in 1980 something were down to 3% and then a couple years later at 10 11. I know a lot of people when they bought their first home it was 12 or 13 percent, you know. But what it is is people are buying real estate on how they purchase cars.
Speaker 2:And when you look at people that purchase cars, most of them don't put the down payment to cover the tax and licensing. Right now they're already upside down on the car in a sense, and once you drive it off the but, once you drive it off the lot, it's now a depreciating value. Would you agree All?
Speaker 1:right 100 homes aren't.
Speaker 2:Homes are an appreciating value.
Speaker 2:Correct right, but you don't see the car salesman going when they come back to trade it in, going All right. Well, now I'm going to take this and they're like it's a appreciating value. They don't hammer them again to resell them, they're going. Where can I find the best possible solution to your problem of getting you into a car and getting you unburied in a sense? But just remember, but we don't, as a real estate agent, invest into that kind of like perception of what we're trying to do, like real estate has always been an appreciating value.
Speaker 2:You're exactly right, it's not like cars that are depreciating, or our shoes, once we wear them and wear them out too out. What's a depreciating value? Yep, we are in an economy for us, as real estate agents and professionals, of going. We look, we can always make, we're always can appreciate our value of our money to make more. But are we truly investing into the value of building a better business to service the people that actually have built our company? And instead you listen these panels about oh well, let's go do this. Whatever I teach people look, man, when, first, when you get a client, you got to go find their people, of people, because those are your people now.
Speaker 1:That's right they don't.
Speaker 2:They don't do the onboarding, they don't do a private group, they don't have a YouTube academy, they don't follow it with thank you cards, they don't have the touch points of what the clients are. They're not doing a client appreciation, it's. They make it a theatrical production about them like, oh, look at me, oh my gosh, we close X amount of volume. Well, I know people that close a lot of volume, but when they return on there, you know let's just say they made 200 grand and they 18 percent to return. That's not a lot of money.
Speaker 1:You're correct. You are correct. And all those things that you're talking about, I call them needle-moving activities. It's kind of like a bible. So does it needle Go ahead?
Speaker 2:I said, yeah, just move the needle.
Speaker 1:That's exactly correct. Move the needle. You either need to do more of it, less of it, um, but there are a couple of Instrumental things to your business open houses that will always work, stands the test of time. How many open houses are you going to do? Thank you cards, how many are you going to do? And there's plenty of Realtors out there that didn't partake in any of this stuff and closed a ton of business, and those are they're going to be the ones that are going to be hurting because they didn't deepen the relationships with those Individuals that they were able to help and show whatever value they could too.
Speaker 1:So that being the case, john, I'm going to throw something up on the screen. It's an article, and I want to see what your response would be to a consumer coming to you. Let's say, if you were the realtor seeing this and here it is Roughly 30 billion could be slashed from real estate agents. Commission fed economists pose solution to the anomaly in the american housing market If a consumer this being yahoo finance, right front and center of damn near every consumer that jumps on the internet in the morning Brings this to you and says what? What does this mean?
Speaker 2:Means that we've been overpaid. We've been overpaid, we, we, we took it as that. We were all the just just, you know the listing John's story of arizona and we lost who we were as a person and it was all about the money, money, money versus the consumer. Because if it was about the consumer, I would have built my company, did not have to worry about it to be like, hey, dude, I've always been a flat B, I've always done this, I've always brought the value. Like I have the buyer academy one-on-one. It's going to walk you through.
Speaker 2:I have the sellers academy one-on-one and let me tell you how that works, because I have clients that have that now and they'll go to agents or people that come into their open houses and I know people don't like this, but they don't have the buyer agreement contract signed and they're like, hey, does your agent have this? They're like, no, do they have this? No, hey, give me your phone number, let me text you an academy real quick. That's going to walk you through and educate you a little bit more about what you're dealing with. Versus, they just think, well, and that's interesting, because a consumer will go educate themselves a lot about purchasing a car and do a lot of research, but they trust the value that we're going to be the person and I think where that was is, if it was me, I'd explain.
Speaker 2:Look, I I agree and I understand your viewpoint. I understand there's some confusion of what's going on that, but I will agree that we have been overpaid. We took that. We took it as an irresponsible of like Grandma constantly giving us $50 a month. Remember, back in the day, when you get the card, you knew immediately what you're going to spend it on it burn a hole in your pocket, right, that's what real estate agents said. They just kept burning a hole in their pocket and burning, burning, burning. Finally, it's caught up to him this last week and, instead of slowing down and building systems of the value, I would go to my clients and I'd be like, hey guys, like, look, here's where we're at. Like, this is great news for everybody.
Speaker 2:Honestly, it's going to get rid of a lot of people that are that we're doing a disservice in our industry that just looked at you as a Transaction. You know me personally. I've always looked at you as the greatest entity to me, because I'm nowhere without you. Nothing's changing in our relationship, but with a lot of other consumers or friends or people that you might know in the industry, it is going to change for them because they don't have what I built out, they don't have the systems of where it is. But this goes along for the coaching world for me as well, that could be the same viewpoint as a coaching because they don't have training platforms. They don't understand social media. All coaches coach on what? Co-calling, buying leading scripts that's right and running ads. I don't.
Speaker 1:You're exactly correct.
Speaker 2:So it's the same. It's the same version. Does that make sense?
Speaker 1:It sure does go.
Speaker 2:Yeah, you know what. I can understand where there's confusion, but guess what? There never should have been confusion because you always had the right to choose, right, and I and how I would have always handled it if I was a real tourist one. And this is where I talk about that one client. I sold my house and I brought the buyer and she still took 3% for me on the buy side. Wow, it was a neighbor around the corner. It was renting.
Speaker 2:I changed how they did all their marketing, all their flyers, did everything up, had my house, whatever, ready to go and whatever, and it sold like within the day. Right, but I knew how to market, I knew what it was and it was rendering I go. How do you justify getting 3% on when I brought the buyer? Because I knew the, I knew the neighbor. Why just go do my job? I'm like I'm the one that designed the Company time that you had never done. I'm the one to put them in the box. I'm the one that got my house ready to stage and shit like that. You did some professional photos that cost you 500 bucks.
Speaker 2:And you wanted to make 18,000 dollars, and this was you know, obviously, eight years ago, when my house was sold for 318 and I'm like dude, you want that, I'm like. So when I went to go buy my next home, guess who didn't represent me?
Speaker 1:Not her, not him.
Speaker 2:And then I bought the home like that, and I was like, wow, I'm so happy because when I bought the home, even the person he goes, I'm just going to do it for 1% and I'm like really like I was shocked. Okay, even though the the where I bought a new bill they were giving them, he gave me two. Back of the point is like, dude, there's no reason why a realtor should be paid as much. He goes. You went and found the home, you went, did all the stuff.
Speaker 2:See what we, as real estate industry professionals, don't understand, dude, your clients already been researching and has done 80 plus percent of the work and they're gonna come to you or whatever it is. Hey, I know how many bedrooms, how many baths. Here's what I've been looking. Here's some things where our here's some price points. Well, how do you know that? Well, zillinrolltorcom had that right. So they already have done so much of the legwork and we act like, oh, we found them their dream home. No, you didn't. You dumbass, they already found it priority. Fucking show them homes Like let's call us fate of spade.
Speaker 1:Let's call us fate of spade. That's exactly correct.
Speaker 2:They've already been looking online and knew what they wanted before even calling you. They just think they need you. In real reality, you cut yourself out of the of the market because you're not doing it. You don't know, but that's what people understand. It's my buddy, pat Hickey, that owns, that's been a car and she goes real estate's just like cars, bro, they research it before they get here. That's why I didn't know if they're going to drive a Ford, a Chevy, a Maserati, a Ferrari, a Lamborghini and it goes off affordability right.
Speaker 1:That's right, that's exactly correct. Wow, wow, that's some act right. For most, it really is. We're coming to a close here at the end top of the hour. John dude, it's always good to catch up with you. That's some great insight. 100% hoping that agents take this and consume this the right way, because I don't think that your intentions here are to call agents shit or say that they don't have value. You're trying to show them how to bring value, how to bring value to light, how to display that value moving forward, because most have not already. They've been going through the motions and sleepwalking through the industry, so to speak. Is there anything that you want to add before we cap this thing off?
Speaker 2:I mean, just slow down, pay attention. Your clients are actually making you money. Stop buying into this bullshit of people that are telling you in the industry that they're going to change your life. Whatever it is, you change it. You build systems Obviously not to structure that with a low overhead.
Speaker 2:That's what I talked about. We just need to pay attention more. We need to treat it how we would want to be treated. That's why I built my coaching. That's why I have it where it's lower price than what people told me to do it.
Speaker 2:I said well, the reason is I want to help people. I truly want to help people stay in the industry, whatever people are like oh you've got all this. Well, yeah, but I charge a very small fee for my subscription to help a lot of people. And guess what? The messages that I get where people are like I was going to be out of the industry and I made an extra 50, 60 grand this year to do things. I was happy.
Speaker 2:My process is the same process as them. They just need to switch their mindset a little bit more and realize that this is not a bad thing. This is great. It's going to get a right out of a lot of people that don't do their job correctly, and I think obviously everybody has a talent to do their job better, and I'm not saying that my way I do things is perfect. I think it does a really good job for my clients and the consumers to really understand the educational process of what we're trying to help them with, versus every time you get on the phone and repeat yourself. So just remember to have fun, dude, to get one life.
Speaker 1:It's true.
Speaker 2:I would like to end it with this is that you go to all these events and these people are telling you how much money and how much money they do. And not only would I ask them, hey, what's your overhead? But how many times have you to get it from the kitchen table to leave and go do something? Or how many trips didn't you go on, or how many things that you missed your kids, Not be able to spend time with them, and really you know why? Because you wanted the awards there. If you build good systems, you can make the same amount of money and work less.
Speaker 1:That's right.
Speaker 2:That's right and a lot of people need to understand that today's society is that it's not about. It's about how much time you're putting into the things that matter.
Speaker 1:That's perfect man. Well, I mean John's story, ladies and gentlemen, and I believe that he is an example of what it's like to provide more value than what you're actually charging, so that there is no question as to whether anything is justified or not. John, I want to thank you again, brother. We will continue to catch up and, dude, I hope everything continues to go well for you. Next time you're in town, hit me up.
Speaker 2:Let's get something together, bro. Let's get it on the books.
Speaker 1:Let's get it on the books. It's better to do it now than later.
Speaker 2:We can talk about it, but might as well just get it on the books.
Speaker 1:Let it be about it. Good deal, I'll reach out to you soon All right buddy.
Speaker 2:Thank you Later.