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Key Factors RealEstateAF
Educational Podcast for Consumers, Mortgage & Real Estate Industry Professionals. We'll Talk About It All! Key Factors podcast, powered by https://ReviewMyMortgage.com . Your Host Mark Jones invites Industry Pros to help uncover & educate on the key factors of various topics. There’s something for everyone so let us be your guides and get educated. Subscribe & Follow on Spotify, Apple Podcast, Facebook, Instagram, & all other podcasting platforms. Host : Mark A Jones Founder of ReviewMyMortgage.comProducing Branch MangerSr. Loan Officer. NMLS ID# 513437NMLS Consumer Access: http://www.nmlsconsumeraccess.org/Powered by ReviewMyMortgage.com
Key Factors RealEstateAF
Unraveling Real Estate Dynamics: Adapting to Industry Shifts and Empowering Agents
Discover the hidden dynamics of the real estate world with special guests Jeff Garza and Chris Jacobs as we unravel the complexities of the National Association of Realtors settlement. You'll gain insights into how Texas real estate agents have smoothly adapted to new industry standards, thanks to their robust documentation practices. Jeff offers a broker's perspective on navigating regulatory changes, while Chris draws captivating comparisons between real estate and sports, highlighting the importance of understanding the broader industry shifts.
Ever wondered how complex legalities affect affordable housing? We tackle these questions by scrutinizing the roles of brokers, agents, and lawyers in shaping the regulatory landscape. Our candid discussion examines the impact of excessive legal requirements on the real estate market and debates the potential need for reducing these regulations to make housing more affordable. We also explore the risks and rewards of federal assistance programs, all while proposing innovative strategies to educate and empower potential homeowners navigating high listing durations and elevated interest rates.
Dive into the entrepreneurial mindset required for success in real estate, tackling challenges from rising property taxes in Central Texas to the pitfalls of instant gratification in the industry. We'll share transformative strategies for new agents, emphasize the importance of actionable learning, and discuss the value of quality and ethics in real estate. Join us as we explore the power of unreasonable self-belief, setting financial goals, and creating a supportive network to thrive amid competitive market demands. Whether you’re a seasoned professional or a newcomer, this episode is packed with insights to inspire and guide you on your real estate journey.
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.
back into production several months back doing basic shit, and contracts are coming in weird like I'm not doing anything, you don't see me on facebook going hey guys, I'm doing loans yep, no, yep, no. Slide people's dms, let them know what you do, you know?
Speaker 2:yep, okay, jc, I'm ready when you are recording all right you already got it going yes, sir, all right, if everybody's ready, here we go okay, hold on real quick.
Speaker 1:Let me put this on silent silence of the land. There we go. My one of my last guests. Check these out. They're all the different heads of Fed. I'm ready when you guys are.
Speaker 2:All right, gentlemen.
Speaker 1:Ready.
Speaker 2:Key Factors Podcast Real Estate AF in 3, 2, 1.
Speaker 1:And welcome back to another episode of Key Factors Podcast, real Estate AF. In three, two, one. And welcome back to another episode of Key Factors Podcast, real Estate AF, where the AF stands for and finance, and I'm your host, mark Jones, and we are still powered by ReviewMyMortgagecom, the largest index of mortgage programs in the nation, and on the last couple of discussions we got pretty technical in regards to different policies regarding what's going to happen the next four years Under Donald Trump. We talked with some investors, things of that nature, but this time we're going to have a little bit of a free-for-all. It's been about a year since I've had these two guests on together and we want to rehash a couple of the things that we had discussed and then kind of reach in a bag and pull out a couple of topics and go off the dome. So, without further ado, I want to introduce my two guests today. I've got Jeff Garza. Jeff, how are you doing?
Speaker 2:I'm doing well, man. Thanks for having us back. Absolutely, we're ready to break the Internet. Amen, that's right.
Speaker 1:And then I've got a top producing agent from Neil and Neil team, chris Jacobs. What's up, dude? Same old shit. Just another day. Amen to that Right. So, guys, today, first I want to kind of get your take, because the last discussion that we had talked about about a year ago had to do with the NAR settlement. People were shitting bricks, didn't understand what was going on. How do you interpret it, jeff? You as a broker, you had to explain that to your crew and I think the way that you had explained it to them was probably the best way that it should have been explained to many. But there were still many of brokers out there that were literally reading off the script without interpretation and going okay, just get with me if you have any questions, and if you're running a big brokerage, that's a lot of questions to handle without direct answers and seeing the picture of what it means. So what's been happening? How has that progressed with you guys and then kind of as a whole, in real estate both of you can tackle this.
Speaker 2:Yeah, I'll just jump in there. The integration, I feel like, has been really actually more smooth than what I think most of us anticipated. I feel like most of the brokerages, most of the companies, I think most of the agents as a whole have figured out that it's not very much different than the business as usual, the way we used to do it in Texas for many years. Right, and if anybody saw the last episode or when we were on here, we would have discussed many other Northern states. Correct Didn't have the disclosures and disclaimers that we have had in our library in Texas as real estate professionals for many, many years right.
Speaker 2:So that's the one.
Speaker 1:And you're talking about the buyer's rep agreement?
Speaker 2:Yeah, exactly, Listing agreement buyer's rep, those representation agreements right.
Speaker 1:So that way no consumer-turned-client ever felt like they were strong-armed into paying a fee they were not privy to or aware of right, which is the crux of what the NAR situation was right and, if I'm not mistaken, you noticed that Texas wasn't a part of that Right, because we were doing it all along.
Speaker 2:Exactly. So there's that. The other part is, you know, I've been training. You know, obviously we train very frequently at our brokerage and I have a class in there right now that I'm working with about 12 or 13 agents. And it was funny because I was going over some of these new documents, right, that we use, you know, as practitioners on our side, and I was like, hey, guys, like y'all don't even realize this, but this is your new normal. So, like this, I'm going to show you what it's like right now. But the rest of us old hats, like this was not normal. So let me explain why. And half of them are like it kind of seems redundant, like this added documentation. I'm like good, I'm like, yes, you know, I'm like you got it.
Speaker 3:You get it.
Speaker 2:Like it is redundant, like it is very redundant, right? So, long story short, I feel like the integration and the rollout actually has been, was was way more smooth than what any of us probably were, were were anticipating Sure, and I will say, you know it's, it reminds me, I mean, I know you're, you know big into sports and you have great taste in NFL jerseys, so I just want to go ahead and throw that out there. But you know, like you know a lot of my.
Speaker 1:This jersey does not burn my skin, by the way, guys, Okay, Can we get? Can we get this guy some oxygen over here? Yeah?
Speaker 3:that's right, yeah.
Speaker 2:Yeah, he's getting red in the face. Yeah, so real quick, I'll just sum it up so all of my boys, they're all baseball players, right? They all play high school and college and all this other jazz. Well, what we used to tell them back in the day when we would take them to different camps and things like that was like you're either going to get exposure or you're going to be exposed, right?
Speaker 2:Yeah, absolutely. There's the positive and there's the negative, right. And what I'll say in terms of the rollout here locally is and Chris, I'm sure, has a much better gauge on this there are the ones who we know get it. We're trained recently, over the last six to nine to 12 months, properly on what this should look like and how we should work together as peers in a industry. And then there's a couple of outliers out there that just are still making a mess of it and sadly, it's really again up to us agents and brokers, who know what these documents are meant to be, unfortunately to maybe school the other agent who's still acting a fool. So there are some that are being exposed. I'm like dude, you literally don't know what any of this means.
Speaker 2:And then they're beating up my agents or something and be like no, we don't need to sign that form. I'm like. I mean, I can show you every single literature from Texas Realtors and Texas Real Estate Commission that says these are the new forms we're using. So again, there's been a little bit of exposure and people being exposed for not being in the know. I feel bad for those agents. I'll just keep it lightly. I feel bad for those agents because they're lost in the sauce, but there's not a lot of that. And, chris, I don't know what are you thinking?
Speaker 3:So I remember sitting at this table a year ago when all this went down and I said the very same thing I'm going to say today. It's business as usual. You're just learning another way to do it, to be more communicative with your clients, be more clear and concise with what you're doing. I think the brokerage level has done a great job actually of providing the platforms needed to get the training. I think the agent side of it has been lazy to go and get it. One of the biggest things that I'm seeing is your high producers, your good, solid agents.
Speaker 3:They were like all right, what do we need to learn? Let's break it down, let's look at the details, let's make sure we follow all the rules as set forth, like they change every single year and say, okay, this is another, another avenue that we need to communicate to our clients and make sure that they understand. I will say this and I was talking about this on another another podcast is the biggest thing I'm seeing is brokers and I'm not talking about Jeff, cause I've actually done a couple of deals with his agents here recently and I even text him when I do, and I appreciate that Absolutely killed the deal in a good way. Yeah, yeah, yeah, crushed the deal. There you go Brokers wanting to see buyer's representation agreements. Sure, did you know that you cannot ask for that? That is a private contract between a buyer's agent or their broker and the client, and they want to see it because they want to be able to dictate off of that what their client's going to pay. Wow, that's where I'm seeing the taking people taking advantage of it. Brokers bullying young.
Speaker 1:So now let me. I was going to say, I was literally just getting ready to say that part within it. Is it necessarily bullying, or is what I call pencil whipping, meaning being better at knowing your contract and knowing how to utilize it in certain situations? If that new agent doesn't know better, here's my cards.
Speaker 3:Well, I call it bullying, because if you're an agent to agent and this agent gets their broker involved in, their broker says I want to see it. If this agent doesn't know any better, who is that? Shame on, though. Uh, shame on the agent's broker. But also, if you're going to be in this business, know your job.
Speaker 1:Yeah, and.
Speaker 3:I, I go back to you know I said this going into this whole deal that it's going to be on the brokers to teach it properly. But again, if you want to be good at what you do, do your job the right way. That's right.
Speaker 3:Go to every training absorb every bit of knowledge you can. I'm I'm a guy that's always always big on mentoring. Okay, if you're not seeking that advice again, a broker runs 150, 200 agents, so there's only so much the broker can put out there If you're not willing to absorb it, if you're not showing up. But on the other side of that, a broker has a responsibility to do things the right way and not try to take advantage. Right, and I get questions in our company Slack all the time. All of our team leaders do about. Well, the broker asked me for my buyer's rep. That's a private contract. Did you know what to tell them? And the first thing we tell them no. Okay, if the broker's going to try to kill that deal because you won't give a buyer's rep, they're not. They're not being a fiduciary.
Speaker 1:The fact of the matter is is they won't kill the deal because that's not something that they should or can ask for. Well, I shouldn't say can ask for it, because you can ask for anything.
Speaker 1:You can ask for anything Right and it kind of goes back to the know your own business that if you now show your cards, shame on you agent for not knowing, shame on your broker for not making sure that you knew that and hats off to the broker that put that little hurdle in your way and pencil whipped the hell out of you.
Speaker 3:And I disagree because I think that broker should know better. I mean, you're putting an agent in a very pretty and again this goes to the agent too Okay.
Speaker 1:So pause on your topic, because I want to compare it to a VA buyer. Okay, Most realtors don't know that you can ask for more than 4% in seller contributions. I get it all the time I get the phone call Well, 4% is the max. 4% is the max and I'm like okay, let me send you this video and this literature, et cetera.
Speaker 1:It's 4% plus what's customary for a transaction Matter of fact you can use some of that 4% to pay off some of their debt. That's right. But the realtor that's prompting that to me, to the buyer's agent that I'm working with, they're totally in uninformed about that concept.
Speaker 2:It's their truth, right? Yeah, that's right.
Speaker 1:So they believe that that's true. So, therefore, is that shame on them, and are they using it the wrong way? If they don't?
Speaker 3:know. Well, I think we're talking about two different things. I don't think this is the same thing, because one agent's responsibility is to do your job correctly, to know what you're doing, make sure that you understand the process. You're talking about something that isn't necessarily in an agent's wheelhouse. To understand, I get the 4% and know your caps, but there's so many different loan methodology that you can apply to different loan factors that agents won't know, because that's why we rely on you, on the finance guys, to be able to tell us that is correct. When you're talking about an agent, a broker that I can't name, a broker that I don't, that I know that knows that they cannot get that like that. That is a private concept. You should know that. You should know that if you're asking for it, you're hoping that you can get someone to give it up in order to manipulate what the contract commission is stated.
Speaker 1:That's basically what it is, is manipulation right in the forefront, because then I'm going to say give me your listing agreement.
Speaker 3:What does your listing agreement say? Yeah, because if your listing agreement says they're going to give up 3%, why does it matter what my buyer's rep says? Right, because I can amend my buyer's rep, just like you can amend your listing rep listing agreement. So I think it's a little. You need brokers and agents to be responsible for their actions and take care of each other, because, again, this whole market works If we, as colleagues, work together absolutely.
Speaker 3:And that is what got us in this position in the first place, and now it's our job to dig ourselves out of it, and I don't think anything really changed outside of. Just make sure you explain it better.
Speaker 1:Yeah, I mean I think you are on the money, both of you guys. It has a lot to do with we got lawyers involved and when you get lawyers involved you tend to get a lot of redundancy in contracts in anything that a lawyer's hands touch. Attorney's concept. By the way, they're changing again this month, really, yeah, in addition to regulations, on the last discussion with Andy and John, we talked about all of the regulations that it takes that are unnecessary to start building a home. So the idea is they're going to cut some of those regulations, get some of the pork out of there so that it is less expensive for builders to actually build affordable housing. When attorneys get involved, is it necessary? We know it is. Why? Because somebody said it's necessary and that's what we abide by. But is that something that will end up almost queer in our business, if that makes sense in the long run, with all of their additional what they want to make somebody else happy? That maybe happened once.
Speaker 3:That then affects all of real estate. So I don't trust anything the government tells us they're going to do regardless but you have to understand that there's only a level with which the federal government can get involved.
Speaker 3:Anyways, because you're permitting, depending on where you're building, that's municipality-based, that's city-based. Cities are going to run their cities like they want to run them. Correct your development permits, your annexation agreements, all of that stuff is going to cost the same. The federal government can't get involved in that anyways, right, the only time they could is if they gave up federal land. Could is if they got up, gave up federal land, but even then you're going to want to annex because you need utilities.
Speaker 3:Yeah, so I don't see that being, or if they were using federal funds to build their project in some way, shape or form like a grant program but then they're going to give that then then you're going to run into a fair housing issue, because then they're going to say, well, this is only for federal backed loans, Conventional is for federbacked loan to an extent but, FHA, va, low-income houses, USDA.
Speaker 3:I don't see that actually happening. I see you need to make the product more affordable. You need to make the labor more affordable, which go with that, whichever way you want to go, but I don't think that there's anything the federal government can do outside of spending more money which you don't want them to do on grant programs to build these houses, to allow more down payment assistant programs, which again gets you in a position you were in in 2008. If you're giving the wrong people money, helping people that can't afford to buy a house, buy a house. That's right.
Speaker 1:They'll end up right back with it. That's exactly right. And what I've actually seen lately and I talked about it with another lender recently is we've got plenty of down payment assistance programs. Let's be honest, I'll be honest here. There are down payment assistance programs on top of down payment assistance. In many of the cases, a lot of these DPAs are adding requirements like three months reserves if we're going to give you the money. So it's taken a ton of buyers that would have otherwise been able to get this assistance and going. You got to save a little bit, put some skin in the game. It's not necessarily in the game, but in the bank, and that's intended to help folks get into homes In a second lien for 10 years or something like that.
Speaker 3:Yeah, like Lenar's program. So is it?
Speaker 1:really free money. No it's not. Nothing really is ever free. You're either going to pay in the rate or you're going to pay it back and pay in the rate the idea behind affordable housing. And we can roll into this conversation, because I think it stems for the next kind of layup conversation of why listings are taking so long to sell, why buyers are still on the fence, why rates are still high. We can go into all these roads, but what do you see potentially solving the immediate fix for affordable housing?
Speaker 3:I'm going to let Jeff get on this, because I've already answered this question and I've got a perfect answer for it.
Speaker 2:So for me, I've been on some panels over the last few months, especially ramping up through the election and stuff and ultimately what it boils down to, in my humble opinion, so that now, all of a sudden, they had this magic bag of money to be able to buy a house. That makes housing affordability worse. Correct, because when you, it's a simple economy formula. It's an in and out you, you drive more people to the market. With less supply, then whatever's on the on the lot becomes worth more, right? In addition, it's you're correct.
Speaker 1:You know, I mean double whammy.
Speaker 2:Yeah, yeah, so so I'm gonna go back to exactly what chris is saying and what you're saying.
Speaker 2:Right, you make me I'll say it in different terms. Right, you know, and y'all nailed it, the building permits are not at the federal level. The building permits are here in the municipality, in the city, in the city of Helotis, in the city of San Antonio, in the city of Cibolo, in the city of Converse, right, right, who really excuse my French, but gives a shit about affordable housing? They need to be talking to the people who make decisions at the municipal level and at their mayor's office and at their city council meetings to be able to say how can these builders because there's plenty out there that want to be in the affordable housing range and market how can they get to the front of the line? That's right, like, at the end of the day, can I get my permit?
Speaker 2:Can I get infrastructure? Can I get roads? Can I get utilities dug? Can I get electric you know electricity out to this plot of land so I can start building, you know up, right, and so for me it's really a simple conversation about make it easier for developers that have a plan for price pricing in X range to be able to move quickly, right?
Speaker 2:Because if we can talk about affordable housing all day long, which we've been every day that we've ever been in this industry collectively, everyone's always talked about it, but it's like the freaking unicorn, because nobody in the political realm, in the governmental realm, wants to actually make simplified, streamlined, fast track ways for builders and developers to be able to get permitting utilities and get get their ass going.
Speaker 1:You know and I'm going to add to that one piece, because that was perfectly said. In addition to making money, the builder, in order to do whatever they do, they've got to be able to make a profit.
Speaker 3:For sure.
Speaker 2:Let's be honest 100%.
Speaker 1:And the reason why they're not in the affordable housing range ring is because it's not profitable at the moment. Why? Because before you're done getting your permits and inspections, and pest the sand and the soil and everything else. There's nothing else to be made. So who in their right mind is going to run a business model going? Let's break even every time, guys we're doing right for everybody.
Speaker 3:So let me ask y'all this, please. First I'm gonna ask you a question. I'm gonna follow it up. Okay, what is affordable housing? Um, that's a.
Speaker 1:it's all relative, I mean, give me an average, I would say, based on San Antonio, I would honestly say, because our average income combined is like 65 grand. So that puts you almost around max of 200,000.
Speaker 3:Okay, Now back up three years ago. Okay, what was affordable housing? Still 200. So you're saying that a person that can afford a $200,000 house right now couldn't afford a $300,000 house three years ago.
Speaker 1:Actually they could. Why? Because rates were lower.
Speaker 3:We don't have an affordable housing problem. We have an interest rate problem. We have a federal government spending problem. There's no such thing as affordable housing. You buy what you can afford.
Speaker 2:It doesn't matter what you're financing over 30 years.
Speaker 3:It matters how much you're paying for it every single month.
Speaker 1:So would you then take it a step further to say it is a misperception problem by the general public or these potential buyers, because they are still living on a? I can afford that because that's what I was pre-qualified for back then, or that's what the payment was back then, at a 3% rate. That's an us problem. You think so. We're not educating our buyers appropriately Well, even the education of it, and I'm on your side on this. I just want to make it clear that we have the conversation every day with these folks and they still cannot come to terms with okay. So you're saying I've got to look in this range for my payment to be where I want it to be? Yes, oh, I'm just going to go ahead and rent again.
Speaker 3:Okay, Then that's on them. But you know we do what we got to do to make sure they understand it because at the end of the day, there is no sustaining this housing affordability. It's what you can afford, period.
Speaker 2:I like that.
Speaker 3:Because if you go back and you I just went over this with a client that just closed on a VA loan three weeks ago, right before Halloween. He went into the search saying man, my max budget is $250,000. Why, well, that's just kind of the range I want to stay in because of my payment. I'm like so your max budget isn't $250,000. Your max budget is this payment. He goes yes, and what if I can get you into a bigger house at a higher list price but at that payment? I don't do the two on buy downs. But if I can get a permanent buy down that the seller's going to pay for, I can get you in a house it's going to be easier to resell later on nicer, nicer, neighborhood cleaner, better payment, or the same. He was like well, yeah, I want that. So it's not the list price, it's the issue.
Speaker 1:It's how do you get that payment Right? And I'm even more so believe you're accurate in this, because list price let's go a hundred grand difference in list price. It's only going to move the needle a little bit.
Speaker 3:It's not very much, not much. So you want to get it back to where. You want to talk about affordable housing. We had a podcast about this. What two months ago? Yeah, the federal government needs rain and spending. We need to make jobs more accessible in the States. We need to make sure people are getting paid a fair wage. We need to make sure businesses are making money so they can pay their people a fair wage. That's going to increase buyers. That's going to get them out of debt so they can afford to take on better debt. So, for example, if you think you're going to go into buying a house and you're like man, I'm going to go put a hundred thousand dollars down in the house, why pay off your car? That's right.
Speaker 2:Pay off your truck, pay off your boat, pay off your camper put as little down in the house as possible.
Speaker 3:As long as we can get the payment threshold you need, because maybe your payment is $2,000, but your budget was 1800, but you have a car that costs you $600 a month, that you owe $8,000 on. That's right. Pay the car off, put less down on the house and your payments a little higher in the house. But you don't have that $600 car.
Speaker 1:You just got rid of that car.
Speaker 3:It's again, we don't have a housing affordability problem.
Speaker 1:So then would you say that it is more of a uh, obviously, education that's huge in in every discussion, hopefully, that we have with our buyers, with other listing, et cetera. But would you say that from a buyer's perspective, it has a lot to do with their sentiment and their lack of confidence?
Speaker 3:I think it's that. I think it's a ego thing. I think people in general they believe too much of what they see on TV, what they see on social media, and not talking to the people that they should actually talk to. When buyers call me, one of the first things I ask them like I've got a guy texting me right now. He's like man, I really want to buy a house. Okay, cool, what's your budget? Well, I think it's this. I'm like no, your budget is what the lender gives you. That's right, because then they're going to tell you okay, this is what he can afford. Okay, now we know what to look for. If you're caught up on social media, if you're caught up on the news and everything you see on TV, you're not getting it from the experts. You're getting it from people that don't know what the hell they're talking about. That's right, like the $25,000.
Speaker 1:Well, that and you're seeing the end journey that they took. You don't know what it took for them to get whatever that is, and most people aren't going to enlighten them on that. They're just going to show the finished product and I would honestly say social media is nothing but a bunch of finished products out there. That a part of a journey. It's about the journey and how you get there that us experts can help guide these folks, educate them.
Speaker 3:It's the old adage First impression is the lasting impression. Typically, buyers take the first thing they hear and that's what's buried in their brain. And now you've got to convince them that that's not right. If it's not right, right. And it's hard to convince somebody, it very much is.
Speaker 2:It's an education issue for sure, like you mentioned. You know, as y'all were having that conversation like my mind went to, so so I have an office in central texas right. So we have a a nice big old office there in harker heights, texas right for those of y'all that are listening, that don't know where harker heights is.
Speaker 2:It's right between killeen, temple, belton and everything else right, and so you know there you go, so you know that's where, you know elvis got his uh, his famous, you know his haircut right. So now it's Fort Cavazos, right? And so we got several agents up there, and one of the conversations that I have with them weekly is about them being able to convert military members there Because obviously it's a military town, a huge military town.
Speaker 2:Convert them from renter to buyer, right? That's the conversation we're having and it's almost sad I have to. And this is I think this is going to be really interesting for you all to hear. The conversation I've been hearing for the last two years from my agents up there is that the military connected member, the service member, is telling our agents my BAH doesn't cover what the cost of a home is because of today's interest rate and the BAH doesn't cover what the cost of a home is because of today's interest rate.
Speaker 2:And the BAH there is actually really low. So that's a very different topic, but it's very low and it's somewhere like $1,475, $1,550 a month.
Speaker 1:It hasn't caught up to what is actually going on.
Speaker 2:It hasn't caught up to the cost of living and all that other stuff, no-transcript access, the VA loan, the VA home loan. Their argument or their rebuttal to the agent is like hey, let's make you a homeowner, let's get you out of renting in tenantville to landlordville, own a piece of the property you defended or whatever right, and that kind of thing right.
Speaker 2:Absolutely. And so what happens is their mindset is well, it's I was gonna say mindset right there. If my BAH doesn't cover it, then I'm good, that's right. I'm gonna stand pat and I'm thinking to myself like man, if your BAH covers 75% of a mortgage and you're not willing to cash flow 25%, I don't know that there's anything that I can.
Speaker 3:I get it now.
Speaker 2:But there is expendable money because I promise you these people and I shouldn't say these people, but I promise you. Well, they are these people because they're the ones that have that mindset Are able to go to Starbucks and able to go get an extra haircut a month.
Speaker 1:And haircuts ain't cheap these days.
Speaker 2:I mean, it ain't what it used to be when we were young, you know, in high school and stuff like that. But you know it's a choice and it goes back to the first thing they hear. And the problem is is that if they're in a circle of other people, it's like nah, man, screw that man, I'm not, I'm not dropping my BAH on a house that doesn't cover the payment. Man, when's the last time someone was to say, hey, I'll offset 75% of that, so you're only cash flowing 25% of it for the two or three years that you're here anyways. Well, as a matter of fact, and then when you PCS out, you can rent it and then recoup everything. And now you have an asset 5, 10, 15 years from now, because you listen to someone who, in my opinion, was smarter, more educated, more knowledgeable about wealth building, asset building, knowing what a portfolio was and actually being a real estate land bearing. You know what I'm saying. You know what I'm saying.
Speaker 1:Meanwhile, you've got investors personal mom and pop investors that are going. My goal would be to break even if possible, but you know what?
Speaker 2:I'm willing to spend up to about $500 additionally each month so that this is being paid off majority by the tenants and I should say I don't want to be beat up by anybody that VA connected, but I'm just simply saying that reasoning you can't argue with, with that reason at all. If they're stuck in their mind.
Speaker 3:I don't even think you need to apologize. There's nothing.
Speaker 2:You can say about that? I can't convince you, I just can't convince you.
Speaker 3:And coming from my perspective, cause I was active duty, I was actually stationed in Fort hood there's two ways to look at it. One, they get BAH and BAS, which is your basic allowance for housing, basic allowance for subsidiaries. It's about $1,500 a month for BAH and it's about $380 a month for BAS. Now that is adjusted based on how many kids you have family size. So just to put it in perspective, the average rank for Fort Hood, texas, is an E4. That's a specialist. So E4 makes $2,633 a month. Okay. So you took. You take that and you consider okay, if you're off base at an E4 with a family, your wife hopefully works.
Speaker 3:But the point Jeff's making is spot on. You're getting $2,633 a month at a two year mark. If you're an E4, you should be at two years, three years. You should be an E4 by then, okay. So if you're getting $2,600 a month, let's say you got a car payment, you're going to need two vehicles. That's $1,200 a month roughly depending on what you buy. As long as you're smart about it, you're still got, you know, 14, $1,500 a month, plus another $1,500, plus another $380 something dollars that adjust.
Speaker 3:You should be willing to give a little. But the biggest fear and this is what I see a lot on the military side and I talk to guys all the time about this they're still in. Recruiters have a big problem with this. Um, you get the guys that go in and you don't. The military doesn't have statuses on orders. Okay, so you could be there two years, three years, five years, seven years. It doesn't, it could, just it fluctuates. You could go to Korea, wherever the problem is, you go and you bought the fear and I'm not against it.
Speaker 3:You go and you buy something more than likely it's going to be a new construction because that's what you can afford. And then incentives and stuff like that. Well, because that's what you can afford.
Speaker 3:And then, incentives and stuff like that. Well, you're not going to appreciate until that subdivision is developed. So you can't sell and you're hoping that you can rent it out for what you pay for it because you can't buy. And you're still going to get BAH and BAS once you PCS. The problem is your BAH and BAS follows you.
Speaker 3:So if you PCS to Benning or Bragg or it adjusts, it doesn't just adjust but you're off post. You have to live off base. Gotcha, on base housing is going to be reserved for your upper enlisted and your officers. If they want to take it, most of them won't. But off base housing is full. They're not building any more bases, any more houses on base. So your affordability like now you got okay.
Speaker 3:That same veteran that says well, man, I, I'm renting this one bedroom apartment for me and my four kids because I own a house in Fort hood or I own a house, or I own a house in Fort Sam and I got to rent that out and I'm paying a little extra to pay for that and that's eating up all my BAH. There's a fine line there, which is why I tell agents all the time don't steer, but you want to make sure they understand when they go into new construction, what you could be faced with? Oh for sure. Most definitely, I think we have to find a better way to provide for your military service members, whether that's increasing BAH or doubling up on it. If you have the PCS shorter than your standard enlistment window two years, three years, whatever it is we as a country, our federal government, has to find a better way to do it for them, because homeownership is the quickest path to wealth, absolutely, and these guys, and in most calculations it's the only way.
Speaker 2:And it's interesting, man, because it also gives us an opportunity to create a solution to maybe a newer or more spoken about problem, right, and so just a quick little story. So I'm in the property management business as well, right, so I have a property management company, a lot of us are in property management, so we do property management there in Central Texas, right, obviously, we have a ton of agents, we get tons of referrals, we have a bunch of stuff up there, and so I actually shattered and broke apart our old fee structure at the end of the spring Because I realized very quickly, texas homeowners insurance highest it's ever been, absolutely Property taxes.
Speaker 1:Matter of fact, it's killing most deals, yes, yes, yes.
Speaker 2:So property homeowners insurance and then property tax, right, so those two are the biggest issue right now. Right On a bottom line scenario, right. And so I was thinking about, I was like man, you know how can I be innovative for myself and my company and my organization? Right, for property management. And so what we did is like back in the good old day, the last four or five years, you know, your standard was 10% monthly management. We would do 8%. If you were VA, give you a little bit of a discount, and then, if you were an investor and brought us multiple doors, we would charge 7%. I shattered that and now, moving forward, all we do is 5% monthly management to be able to accommodate the rising cost of holding that investment. So that way we can partner with more landlords who can continue to afford us right.
Speaker 1:It's basically a cost of living and it's funny because people have.
Speaker 2:Actually, I'm just going to tell you, I mean, y'all know the industry that we're in, man, a lot of people love it, right. We hardly ever get told no when we interview a landlord or investors or anybody, um, but some naysayers just like oh my god, jeff like that's too, low that's the dumbest thing ever.
Speaker 2:if you're going to pay five percent monthly management, then you must be really getting shitty service. I'm like no, the exact opposite. Like, if Netflix can do what they do for $14 a month, we can do what we do for 5% a month, plus you know any other, you know random fees that are included in that or whatever. But my point is is that people now have an option in our side of the world to create new versions of what used to be to be able to help that consumer or that client that needs a service, right. So because taxes are high and because insurance is high, I don't want to lose doors in my property management company. I want to go ahead and adjust and make it make sense for both parties, right? And so we just have to continue to show value, you know, obviously at 5%. So that way people can be like that's not even close, like these guys are solid and they're sharing into the modern-day economy of being a landlord.
Speaker 1:You're evolving and adapting to what is almost necessary in these times. Will it get back? Not ever to what it was, but will it be close? It always does. And back to your VA discussion, just something for the veterans out there, and what I do to help those that are veterans understand the concept of what we're talking about is easily compare it to an FHA loan, conventional loan. You don't have mortgage insurance veterans. So therefore your budget and it kind of goes back to this perception issue or this education and what they see beer budget on whatever they want to call it, and what they see beer budget on whatever they want to call it hey, you're qualified for $250,000, here's your payment. Instead of buying the $250,000 at where their payment is, they stretch it a little bit more and now all of a sudden, no, that's not going to be affordable. You're now at what it would be if you would have bought at FHA, if that makes sense. Why? Because now you're in more home.
Speaker 1:Exactly so it's just something that I think. Education is huge in this and more discussions need to be had and more of the veterans that are interested in becoming homeowners or future investments investors need to seek out similar to realtors that are not seeking out the information or I'll. There are tons of realtors that go to every damn class out there. And it's like how many more classes are you going to go to before you actually start putting this stuff into action?
Speaker 2:We call. We call them PMAs professional meeting attenders. I like it See, fillers I mean.
Speaker 1:I mean, you can expect this person to show up at some point. You got to start performing the surgery. I mean, you can expect this person to show up at every class.
Speaker 2:At some point, you've got to start performing the surgery. Like you can be in the auditorium learning how, but you need to get your hands dirty at some point.
Speaker 3:There's no better way to learn than on-the-job training, I agree.
Speaker 1:I just don't see there being a lack of education out there, and now we're going to roll into this conversation, I feel like it is a lack of fire under their ass. Lazy, I don't know, but the information is there. Once YouTube launched and content started flowing, then you've got social media, in addition to the internet and guidelines and all of the things. There are plenty of folks that have done it already, that have shared their stories in multiple places books, podcasts. Why are they not seeking that information? So, as we roll into this, what the hell is up with these new agents?
Speaker 2:Well, this is a two-hour continuation here, so I mean be careful, you know. But you know, I'll just start this one by telling everybody out there that's listening. According to the National Association of Realtors, right, you know better than you and Chris and myself.
Speaker 2:Okay, like, don't believe us, right? Like, what the hell do we know? That's right, okay. National Association of Realtors says that a brand new agent licensee today has at best a 13% chance of staying an agent slash realtor by year three. In other words, the dropout rate in the first 24 months US wide, nationwide, is 87%, and it's getting higher, okay, and so so again, what do we know?
Speaker 1:That's almost. It's a very close stat to the folks that start a new business for the first time and fail.
Speaker 2:Most of them fail, exactly Right. So so what happens here now and I think we've all studied this for sure. You know where I'm at now. You know, in the brokerage business, right you know? And recruiting and retention and all these other things. I'm looking at these things every single day. I sleep about it, I sleep on them, you know whatever, and at the end of the day, what I will say is just to kind of kick this little segment off, because I know Chris has got a ton of boiling over to talk about this.
Speaker 2:But you know, a lot of people come in with employee mindset and that is a huge one, right? Yes, I interview agents left and right. That's the truth of the business that I'm in. Right, I meet with people that are aspiring, soon to be, want to be about to get into school, just about to test or whatever types of folks who are vetting us out to see if maybe we might be a good fit for them and what they want to do in their real estate career. So we interviewed with these people and they're all soon to be brand new and a lot of their questions are very simply put like what kind of leads do you provide me? Do I need to go get the business or do you give me the business?
Speaker 2:And there are different answers to that, based on if you're going to be in a team, in a team ridge, in a boutique brokerage, in a midsize to a large size brokerage. There's all kinds of different styles, which they're all good. There's the great ones and then there's those same ones that are the bad ones. But ultimately, I just cannot sleep at night and tell a new rookie agent hey, come to me so I can make you successful. Because the problem is in that one little 45-minute hour meeting, which is a reverse interview. Right, they're interviewing me. They're interviewing my brand, my company, my support system, my staff, my systems, my technology. That's what they should be interviewing right.
Speaker 2:I don't get to necessarily reverse the mirror because there's not enough time to be able to say hey, now that you've asked me for 45 minutes, I want to poke and prod in your mind for 45 minutes to figure out your level of grit, your level of grind, your desire, your financial goals, what bills you're paying with this, what your treasure, your war chest, looks like. Getting into this, that's another one. A lot of people get into real estate without a job or broke, and getting into real estate without a job or broke makes you broker.
Speaker 3:That's right, that's true.
Speaker 2:Because a lot of companies out there, whether they're pushing their agents to either run the table with buyers or lead with listings, whatever sellers or buyers they all cost, yes, Right, Because all of a sudden you're a business owner, you're a business operator and you didn't realize that gas costs money and your time costs you a lot of money. Right, Most don't understand that concept.
Speaker 2:Yeah, and then let's just say you get lucky on the phone and you're a cold caller and you got lucky in your first week. Now you've got to put professional photos, or at least if you're worth a damn, you should be using professional photos. You should be using the $115 super lockbox, not the $20 combo, right? But that's a choice that everyone is listening to can make for themselves. You should probably be offering some sort of virtual staging if it's the right house, maybe some actual, real staging if it's the right house that qualifies for that. Maybe a little landscape make ready before the photos, like all the things that people do to get homes really, really sold right.
Speaker 1:Isn't it amazing that and you sparked something that needs to be said isn't it amazing that there are agents out there that are still charging 3% and not doing what you're talking about?
Speaker 2:I was just talking about this to my class two days ago because they're brand new and we were going over the listing agreement and I explained to them that they can either be professional marketers in this environment, because we do know now that right now homes are sitting on the market in the greater San Antonio metro area, which is about five or six contiguous counties or whatever. That is about three to four and a half months, maybe five months in some cases. We'll call it three to five months, so if you get a listing right now, that might be a payday in March if you're lucky. Correct you know what.
Speaker 2:I'm saying Kind of sort of right, there's going to be outliers, but you've got to start.
Speaker 1:Even if you price it accordingly, that's right.
Speaker 2:So you've got to load the pipeline, get the pipeline nice and full so that way, as these things start to pop, everybody's winning. That's right, you can have consistent paychecks or whatever. But I was basically explaining to them what we know. Some of us old school guys like the three Ps. Right Back in the day it used to be like, okay, put a sign in the yard, put a lockbox on the door and pray. And going back to what you're asking me, who?
Speaker 1:is that that I saw on social media that was planting those not planted, burying those. You see that I was like. Are you serious? It works every time. Nothing to do with your pricing, though.
Speaker 2:The saint of real estate right, but yeah so ultimately, there's 3P agents out there and I'm going to tell you right now because cause I mean you know we're all in different types of organizations and things, and mine is a larger one, based on city numbers or whatever. Like man.
Speaker 1:I, I, I I. I'm ashamed if I have an agent in my organization.
Speaker 2:I'm ashamed that if they have a listing, if they, I always tell people close mouths, don't give head, Absolutely. If you need professional photos and you can't afford them at my company, call me Holler Yep. If you need a super lockbox because you just can't afford it, call me. Yeah, Because. And if you need a sign, call me. And the reason I say that is because my name's on that listing agreement. Damn right, and you just associated me with that listing because you're my proxy. I mean we can get into that too as well.
Speaker 2:But I'm a representative of fill in the blank, right, but that's people like us at this table that have taken pride in our craft and refuse to go charge four, five, six, seven, 8%, whatever that number is because commissions are all negotiable, right, but whatever that fee is and not be able to look at you in the wide of your eyes and say, hey, with that charge comes this amazing service, that's right.
Speaker 2:Right, you know, because agents look at me all the time and they're like Jeff, like you know, the van in the driveway like it doesn't turn on, and you know I really make your house look like shit on the MLS that once it's syndicated across the world we can't pull it back. Right, like, this is your one shot. You know this is like your M&M one shot. That's right Like you. Better make sure it makes sense.
Speaker 1:First impressions are everything Well, jeff, you know, let's get it done. Do it yourself if anything, do it yourself.
Speaker 2:And then the listing agent is just like well, you know, like well, who pays for that? Well, the guy that wants to make 6%. Thank you, like what the hell you know? Like let's get off of our lazy laurels. And like let's get into the game.
Speaker 2:No, you are correct, because it's not hard, honestly, to distinguish an agent who gives a shit about their craft, who refuses to be average. And then there's a big distinction amongst the ones who are okay being the 3P listing agent or the 3P buyer's agent. I think it's ridiculous when buyers are out there walking into open houses on Saturdays and Sundays alone and their answer to the agent in the open house is well, they sent me out here and told me to call them if I find something I'm like wow.
Speaker 1:I've heard that so many times.
Speaker 2:I mean I'm sorry, man, but everyone is nodding their head in the car and truck or in the shower right now listening to this. When it comes out, or whatever you know, like man, your buyer's agent is a sorry ass.
Speaker 1:You had a client. Now they're ours.
Speaker 2:Yeah, exactly, yeah, exactly. They get in front of a Chris or myself like they're done. Yeah, they're toast, yeah.
Speaker 1:So and you mentioned something that I want to kind of hone in on and I'm painting a picture because the scenario just took place the idea of pride. I'm not seeing the level of pride that should be taken by professionals like us. And here's the example. I had a solid agent reach out to me yesterday, said I'm working with these buyers veteran buyers are buying around 600,000 right now. They've shopped with Veterans United, They've shopped with that, that, that, that, that they're looking for the best rate. Okay, no problem, I'm going to tell you right now I'm maybe not the best rate, but I can tell you I'll get the deal done, smooth transaction, et cetera. We're set to expect we'll have options for them, all that jazz. So I finally jump on the call this morning with the borrower and, after reviewing just what they submit, said ma'am, you've been shopping with all these different lenders, You've got these rate quotes that you sent me, all this stuff. Did any of them raise the red flag that your front end ratio is at 60%?
Speaker 2:Well, what do you mean? We're well qualified.
Speaker 1:Well, I mean, based on, maybe, what you entered into the system. How many of these lenders did you send your documents so that they could verify what you entered into the system was actually what they could use, because you've got a close date of the 6th and you still haven't picked a lender, but that's you being an educator. You know what I mean.
Speaker 2:That's you being an educator In this case scenario.
Speaker 1:I told her verbatim God, I wish more lenders would start taking pride in what they do, because if I was somebody that was just throwing out approval letters and getting people under contract, at some point it's going to catch up to that person and you're going to ruin your reputation, if you even care.
Speaker 3:Well, we live in a society that's full of instant gratification, like he said, with agents coming into the business broke. You want to come into the business because you saw your friends mom's a real estate agent and she drives a whatever. They think they're going to come in and just start making money. Come in and ask them for leads, ask them for this. Well, they don't understand. Being a real estate agent is owning a business and you have to invest in your business, right, and you go and you look at the businesses you're talking about. They're the I'm not gonna say names Um, I almost did, but they're online and they're too big to fail.
Speaker 3:Yeah, so they can as they want, because they don't care, because they're going to try and get as much as they want and their service sucks. And that's the people that you and we are competing with the online brokerages, different affiliations. That's where you're running into this constant problem with these agencies. They want to go and they want the cheapest splits, the cheapest whatever, but they're not willing to put in the work to make the money they need to make to make their business successful. That's right. You know, when I got in this business almost almost eight years ago, I said I'm not going to start full time until I have six months of reserve saved up, and I was coming from a business where I made really good money. Sure, now I run off of a 12 month operation, so I have 12 months of reserves put away just in case you never know what's going to happen.
Speaker 3:And we get so many agents young agents that come into this and like well, I have a house that I rent or an apartment that I paid you know $2,000 on. I need to make a paycheck quick. That ain't my problem. Nope, that's a you problem. That's right. So what do you want from me? I can train you. You know we're on the team side, so we do provide some leads, but my business is probably 94% sphere and that's 60 transactions a year. These agents come in and they're like well, I want all the team leads I can get. Well, first of all, we don't just give you team leads. You got to earn it because we converted a very high rate.
Speaker 1:In addition, if the leads coming from me, just like you said, my name's still attached.
Speaker 3:And every one of our listing agreements, bi-rep agreements, is our brokerage and Shane so it's his name on it. So you're not just going to come in and just get leads. You have to show that you can be established, stick with the program. You have your 90 days onboarding. But these agents, they want instant gratification and it goes back to like well, we've talked about us together, me and you together. They see social media, they see the Grant Cardone's, they see the high end producers, and they're the same agent standing at the foot of the apartment stairs with a busted ass Kia taking selfies saying I'm the top producer. You're not. You're not. You're asking to be one, but you're not willing to put in the work. It's a business.
Speaker 1:You have to run it like a business. I'll even go in further it's not just a business. You are the business there. There is no biz. Yes, there's a P and L that hopefully you should be keeping track of expenses, what comes in, what goes out, taxes got to move those aside, et cetera. So, matter of fact, somebody posted uh, what should I get a buyer or a seller after a listing? I have no idea. I said you collect your check and put some away for the next time because you're going to have expenses. Hopefully you did a good enough job that the gift to them is their money. But of course you can get them anything. But the idea of it being you as the business needs to be adopted more in the mindset aspect of these folks, because then in that case you're now investing in yourself.
Speaker 2:Yeah.
Speaker 1:You're not throwing money into this business that if it fails you get to just walk away from. No, you as the realtor, as the business schedule, C 1099 employee, when you walk away, the business is dead. You are the business, so it's following you. That's your reputation.
Speaker 2:That's everything that you supposedly had worked for or up to to get to this point, yeah, so one of the things that you know, as I'm hearing this I'm thinking about. I always tell people in that interview process, right? I always tell them at our company yes, you're going to be a real estate professional, yes, you're going to be in the real estate gang if you will in our club right. But you're an entrepreneur.
Speaker 2:The real estate cartel, baby, that's right yeah, but at our company you're an entrepreneur first who specializes in real estate. Ooh, I like that.
Speaker 2:Right, so it's like, instead of like peeling it back, let's package it back up. That's right. Okay, let's put the bow on. Let's start at the bow. The bow is you're the entrepreneur who specializes in real estate, right, right, but everyone gets into it. Most people, and when we say everyone, like Chris, yourself and myself, anyone listening, like almost everyone, to what we do they're like I want to be a realtor, I want to be a realtor. I'm like what does that look like? Well, I don't know. What does that feel like? I don't know what are the daily activities. I don't know what are the high leverage activities. I don't know what are the money-making activities. I don't know, and I'm like that's why you might want to consider joiningitional side. We can teach you all of it.
Speaker 1:Matter of fact, jeff, I think you've actually mentioned this before in a previous discussion, but the idea of the kind of apprenticeship I mean it takes an appraiser how many years to- actually become an appraiser. Matter of fact, when you become a police officer, they make you do ride-along before you even move forward, make you work in the jail first.
Speaker 3:That's right.
Speaker 2:It's like they make you do ride along before you even make you work in the jail. That's right, yeah. Like do you really want to do this? Yeah, you're a cadet first, right, yeah, before you ever get some action for sure.
Speaker 1:And what happened to the idea of and this is something that I do, I don't know anybody else when I would hire a brand new to the business loan officer. I want to be a loan officer, I got licensed to hang my hat here, et cetera. My number one goal is to scare the piss out of you, because it's not fun and games Once you actually become under an umbrella. The same thing happened on the real estate side, and that's it's like anybody come on.
Speaker 3:This is something we talked about when the NAR lawsuit came out and we were talking about that, the three of us you you mentioned. Only 13% of agents succeed, 87% fail. Fine, Good, I'm good with that, because we need to. We need to clean the purge the system because there's not enough quality, there's not enough um testing, there's not enough education. It's too easy to become a realtor. It's too easy to go and get your license and to go jump into the business and get yourself sued. It's too easy to bankrupt your brokerage or bankrupt your ENO. And that's the problem I think I see with with agents now is they do come into this business massively uneducated.
Speaker 2:I heard somebody the other day said they got their license in like seven days, Like yeah, if you didn't go to sleep, you could do it online and in person night weekend you know, self-paced and all that.
Speaker 3:I think I think I've heard like nine or twelve days. Wow, I knuckled down, it took me six and a half weeks and that was every day going online and I went to champions for, uh, the prep course on the state and national and I'm like whole like and they walk in like okay. So what do I do? Yeah what are you talking about?
Speaker 1:what do you do what?
Speaker 3:are they teaching and I?
Speaker 1:guess, with the power of social media, it's pretty, it's fairly simple to give the perception that you know what you're doing. Uh, before you've even actually done something like you were talking about, you tiktok reels. Here and there you're taking selfies. You know, you get a deal and you go. Uh, what do?
Speaker 2:I do, I think, something that y'all both would agree with um, and and my mindset has my mindset has has changed over the years, right, I mean. So there's like establishing your business, then there's like solidifying your business, then there's like creating more of a legacy for your business so on and so forth.
Speaker 3:Right, yeah, all of that jazz, right.
Speaker 2:And so, um, yeah, early on, man, I I'll, I'll be the first to throw myself under the bus. It was take anybody with a beating heart, Absolutely Period. End of story, Like there's no bones about that.
Speaker 3:Like it is.
Speaker 2:It is what it is, or was what it was right.
Speaker 3:You know what I'm saying.
Speaker 2:So bring them on Right, because again, you don't know exactly who they are or what they can become, until you see them in a training environment, if they're falling asleep, if they don't come to training, if they're eager beavers like, if they're always contributors like, you just don't know, right, until you give someone an opportunity. So that's kind of where I do have like you know it's an open door, like okay let's see what you got.
Speaker 2:Let's see what you want to do. Right, if you want to build your own business, then we're here to support you. But you know, if of goes to my point, which is this is something actually my wife and I have been talking about for the better part of, I think, the better part of 12 months or so about a year is the, the desire in the true flex to be able to deselect people.
Speaker 3:You, you're in business with right.
Speaker 2:Like, like, let's say your story about that consumer who you know has been shopping around rate blah, blah blah. I feel like I know you well enough to say this. If they were not going to listen to your education and absorb it as truth, I can promise everyone listening Mark Jones does not want to do their loan, sorry. I won't do it Now, maybe can you admit years ago you might have been. I'm going to do everyone's loan. Maybe or were you ever that?
Speaker 3:guy? No, I was, I absolutely was. I think we all were at one moment Okay.
Speaker 2:I absolutely was, because that's just our bravado, that's just our ego, that's just our desire to win right, Because we're all winners right. We're all fighters right.
Speaker 1:Because at that point and I can't fault the folks that are doing that, especially if they know who to turn to when shit and shit hits the fan or before it gets to there and I have to have a solid answer You've got mentorships and whatnot, but early on it was I've got the resources. How else do I get business Now? Mind you, I didn't make promises to people that I knew I could not keep just yet. I would always give an expectation. I would always say you know what, let me find out.
Speaker 1:I'll call you back. It was never a yes it was a.
Speaker 2:Let me find out so that I can ensure that this is accurate. And I think what it goes down to again is do we have the muscle to be able to deselect a current or future client, a current or future associate, a current or future partner, right In any realm that you want to talk about? Okay, and so, like I always make it very crystal clear at our company, it's not Jeff's way or the highway, it's the legal, ethical and moral way or no way here, because there are multiple ways to skin a cat in real estate, right, but if it's illegal, ethical and moral, I'm going to back you to the hill. You got me, you got me Like I'll fight for you, I'm all in right, but I tell agents all the time, like you think you're, this is for the brand new agent listening, which there should be a shit ton listening to this, to be quite honest, okay, this is for the brand new agent or the brand new in business agent, or the struggling and business agent that's listening to this.
Speaker 2:Right now, your job is not to go get the next listing, your job is to go get the next right listing for you and your style. If I take a listing right now, let's just say, in Garden Ridge or in Stone Oak, and it's a $789,000 listing right and it's a gorgeous home. You know MLS and data will tell us we'll get it sold in the next 90 days. Okay, if that seller will not allow me to do open houses and we believe it probably needs it. Maybe if that seller will not allow me to do the power washing or the make ready as an example. I mean there's a million things. If they have, you know, 17 cats in that house and they don't want to get it, you know, deodorized and cleaned and all that other stuff. I don't know that I want that listing, but that's me telling you after 11 years in this industry right, Because when I first started I thought my job was take the next opportunity, take the next opportunity.
Speaker 2:And I'm here to tell the young agent in business or the struggling agent in business only take the ones you can win with, because they partner with you. That's right. Don't just take anybody's listing. That's not a model.
Speaker 1:Well, that's taking your experience and looking down the future scope of what this transaction could end up becoming. And it's not. We have to forecast the train wreck. You have to forecast this is about to be a train wreck.
Speaker 2:Yes, and this is not going to be a five-star review. This is going to be a one-star because we live in a Yelp society and that seller will be quick to blame you when their house smelled like dog ass. You know what I'm saying.
Speaker 1:That's also another reason as to why, let's say, you, as the listing agent, charge your six to give the other three, et cetera, why you can stick to that. Because you can't get cheap. You can't get great for cheap. It's just this thing that we all want as consumers. I want the cheapest and I want the best.
Speaker 1:How does that make sense? I mean, somebody else said it on here at some point but you go to school, you get all these degrees so that you can be the cheapest. Right, how much sense does it? You become the expert in your field so that you can be the cheapest. You're not going to be able to do all of the steps that is required to be the expert, like you're saying, for the cheapest kind of wages. It just doesn't compute and those that are willing to part with the deal that probably they should not take are going to be the ones that are able to stick around, do show that value, can get the transaction from A to Z when they expect to get it from A to Z, like you're saying and the magic is being able to assess if the consumer or the client, the buyer or the seller has expectations that you can even meet, because many of them have very unrealistic expectations.
Speaker 2:And no matter how good a Chris Jacobs is, he won't be able to meet them where they want to be because they're coming from an unrealistic point of view right Now. It takes us, with our history and our experience, to be able to say man, that's just, I'd love to get you there, but that version that you want me to go like it's like taking an overpriced listing. You know it's one thing to do. At 5 or 10K, okay, maybe cool, whatever, not a problem. That's probably something we can all agree that you would do, correct. But if I could list it for 25K more, I would list it for 25K more Absolutely.
Speaker 1:I make more guys Like why would I not?
Speaker 2:Why I'm here telling you this is the threshold, right? And so, again, I always tell people like man, be careful that you don't get loaded with three or four overpriced listings because you weren't strong enough and I say that with love to be able to say you know what, I don't think we're a good fit. I don't think we're a good fit, right? If you can come down to my marketing approach and my price approach, my pricing approach Based on the data, I'm good, call me back, but I don't know that I'm the agent for this, because then the young in-business agent or the struggling in-business agent takes that on, knowing they should have never done it.
Speaker 2:They neglected to listen to their gut intuition, yep, and now they're in deep with two or three really bad situations that are keeping them away from the next blessing that was supposed to come down their way anyways, and then people like us are just ready to receive it for you because you muddied the road ahead of you and you weren't able to say no, and I guess that's kind of what I started with saying is like being able to deselect and being able to say no is a strength, absolutely.
Speaker 3:And it takes a muscle and you got to work that out sometimes because right now we want yes, yes, yes, yes, yes, I'll take it, I'll take it, I'll take it, but adding onto that too, and from the new new agent perspective, as I still remember being very new, this is where I say and we talked about this yesterday in the group text agents that are going out there and you're spending five, six, seven, eight, nine $10,000 a year on coaching and all this bullshit stop, because what he just talked about, your immediate solution, is all right, mr Seller, my number is this.
Speaker 3:Your number is this how about I pay for an appraisal on your property? You sign the listing agreement and we see what that appraisal comes in. That's strong, because instead of going and spending eight, nine $10,000 for some dude in Florida that has no idea what market I'm in, that's not even in production anymore and it's been a coach for 10 years out of production I just took that $8,000 and I invested it back in my business and said, okay, it's going to cost me 500 bucks to maybe get this seller to see my side of it. And so if he says, no, what'd you waste $500. Cause you're going to get more deals like that, then you're going to lose.
Speaker 1:And I think most importantly, you removed emotion from that A hundred percent.
Speaker 3:But you also showed him you were willing him or her, sorry you were willing to put skin in the game and say I'll take care of your pictures, just like I'm going to take care of your marketing. I'm doing it right now.
Speaker 2:Hey, I like you enough. I want to work for you. I want to be your representative.
Speaker 1:Or at least I believe in myself enough.
Speaker 2:But we're only off on one thing and let's figure out how we can, and at the end of the day, that seller called you because they need to sell I agree 100%.
Speaker 3:Somebody is going to sell that house, why not be me? Let's start with this and see if we can get to a number that makes sense for everybody, and maybe, maybe that house is one of those outliers out there that someone will still overpay for. That's fine. But if it's that good, multiple people are going to want to overpay for it, which is then going to drive it up closer to your number and make you more money and me more money, because I'm percentage based but.
Speaker 1:I think the the for you. For you, it's not difficult to have those conversations. Matter of fact, as a lender, it's not even difficult for me to have these kinds of conversations with buyers that are selling a house and trying to buy it's like okay, if your realtor hasn't told you this, let me be the guy. But in your mindset, man, this is going to go down another rabbit hole. Where are we at on time? We are at 106. Okay, maybe another 15 minutes let's go.
Speaker 2:The people want more, I agree, but I think I know, where you're going to go with this.
Speaker 1:Go for it, no go for it.
Speaker 3:Our mindset is very different than new agent mindsets and, to sum it up, I was a new agent and I did that, and if you're dumb enough to get in this business broke, with no education, no way of supporting yourself, don't get in the business. That's why I'm happy with 86% of the industry not working out, because at the end of the day, you're going to lose the deal anyways, because I'm going to take it from you, because I'm willing to invest in my business and you know what new agents.
Speaker 2:It's caveat you know what new agent needs to do. They need to find themselves having a conversation with someone like him, Agree With someone like me, agree With someone like you. They need to humble themselves. They need to put pride aside, that's right. They need to offer to. I'll buy the coffee. Yes, hey, can you just give me 30 minutes of some real talk about what you think it would take for me to maybe make it?
Speaker 1:and get smacked with some real shit. You know not what you see on tv this isn't selling sunset, we're selling san antonio and surrounding here. This is real.
Speaker 2:You know it's funny because because you know, obviously, obviously, at the brokerage level, we recruit all the time. It's part of our business model, there's no doubt about it. You know it's like AGB is trying to get more customers through the door, like that's what they need to do, right, to be able to do what they do.
Speaker 3:I'm pretty sure you put a flyer on my windshield. Yeah, there you go.
Speaker 2:So when we go to you know, at Champions we're a proud sponsor of lunches and breakfasts and dinners and stuff and we go talk to all kinds of people. And one of the other questions that I get at that environment, like in the school environment and we even do this in Austin, man, we're at multiple campuses.
Speaker 2:And so they'll raise their hand when I'm done with my little 10 minute and they're like you didn't really talk much about training. How much training do you provide? And I'm at the point now where my answer is very select or deselect with my answer. Ah, okay, my answer is I don't want this to come across weird, but I provide more training than you'll ever come to. That's right, okay. And I just kind of pause and they're looking at me like what did? Why?
Speaker 3:huh.
Speaker 2:And I'm like, let me repeat that I give more training than you'll ever come to. That's right. So you won't have a training problem at our company, it'll be a you problem.
Speaker 3:Exactly, and the only reason you should miss that training is if you're busy.
Speaker 1:Or if you've experienced enough that you're able to teach that class.
Speaker 2:Amen, give that training.
Speaker 3:Amen. I got lucky enough that I get to go in every once in a while speak to other brokerages that I'm not affiliated with. I went and talked to another brokerage a couple weeks ago. Actually, I did my brokerage in another brokerage and we had a bunch of new agents in there and some of the questions they asked me like what do you do? How do you, how are you so successful at what you do? And when I go and lay out my day, they look at me like I'm absolutely out of my mind and I'm like first question to them was why? Why do you feel like that's crazy? Well, that's a lot.
Speaker 3:I'm seven and a half years into this doing numbers and you think that's a lot. Right, you need to be doing double what I'm doing in terms of the work you put into it. That's right. And it goes back to how much training are you willing to go to. It's where you're good enough to give the training yourself. That's right. And these agents they have no expectation as to what goes into it and it's like bye, go, because I'm not going to bullshit you around and tell you this is easy because it's not people that People got into 2020, 2021. Sure, your year was easy, but guess who's sucking wind now?
Speaker 3:Right, that's exactly I'm going to have my second best year ever and my best year was before that, so it's like the work doesn't stop and they just wanted to magically appear and go.
Speaker 1:Well, it leads me to my final question of this discussion, and it's kind of a two part question. That can be. Can be, but point blank, pretty bluntly. Number one is it obvious because you guys deal with additional realtors all the time is it obvious to spot either an inexperienced agent or a lazy agent? And then here's the second part what does it take in today's market to be a successful real estate?
Speaker 3:agent Easier to spot a lazy agent. Okay, right off the bat, cause as soon as they send the contract in, the pre-approval is missing, the third party's missing, the HOA is missing, they missed filling out the brokerage section of pages. I think it's nine lazy agents. Inexperienced agents, will send everything. It may be wrong and I have no problem saying, hey, this is what's going on, I'm going to go ahead and fix it for you but, I want you to see what you did wrong.
Speaker 3:So before we go to the second one, let's go cover the first one so my my, my answer to that is very similar, but a little little different approach.
Speaker 2:Lazy, I can, we can spot in documentation. Yes, lazy, I can't identify you in the flesh Oof.
Speaker 3:That's strong.
Speaker 2:And that's why we are a yes first company. Come on, and then we got to start to vet you out and see what your energy is like and what your reputation becomes right, and then if we're just not a good fit, then maybe that's a conversation down the road. But yeah, I can spot lazy in a contract, I can't spot you lazy in the flesh.
Speaker 1:And, chris, you said something that I think all three of us would more every time agree with. Yes, it's easy to spot the lazy agent because of the lack of what they do on the contract.
Speaker 1:But if we spot an inexperienced agent, we have no problem filling in the gaps, helping them get to where they're going to be. Why? Because they took the time to at least complete the work at its entirety, to do what they needed to do. Maybe they were lacking what needed to be here and dotted, et cetera, but for those people, you've taken that step, versus just throwing shit together and getting it to you. How many other contracts are you writing right now, sir, ma'am?
Speaker 2:I tell our agents all the time if you're on the other side of a deal where you just are with a really nice agent who just doesn't know what they don't know. When this deal is done, recruit them to our company Because they strong yes, Because they're almost there Correct and, unfortunately and sadly for the world that we live in, lazy in one document can get everyone sued.
Speaker 3:Sure that's my good point.
Speaker 2:So it's just a matter of like did they do it because they don't care, or did they do it because they don't know better, right, right. And so a lot of our agents come to our meetings and they're like, hey, jeff, like I'm, I'm in this deal with this one and, man, I want them to talk to you Cause I feel like they could be great over here. That is correct.
Speaker 1:I'm like, well, shit, set that up, like let's let's talk to them Like maybe they could be great over here, you know, um, but yeah, this guy's lazy, this chick's lazy, no, it's not a situation of they're doing the best that they can, they don't know, et cetera, they are just lazy. Then the last part, and this is the grand finale, is what does it take in today's market because it's not the same market, more than likely, than when you first got in the business to be successful?
Speaker 3:So I don't use that word. Okay, that's a, that's a, um, that's a bad word to me, because success, success can be adjusted right. So if you're coming from an industry, you're making $60,000 a year, and you get in real estate and you say okay what is that word?
Speaker 1:They use subjective. It is because you can always move the goalposts to success.
Speaker 3:Because if your goal is 150,000, but, you make a hundred, most people say, well, that's pretty successful. I made double what I used to make. I measured off goals. If I don't hit my goal, I'm not successful. I like that. So I think the biggest thing that we can do now to be successful in this business is simplify your systems.
Speaker 3:So we had a conversation about this on my podcast not too long ago, about how to be successful. What do you use? And a lot of people say the same things. When I go to these different brokerages and go talk to different people their CRM, their lead generation software, whatever they use, my CRM is not what makes me successful. My YLOPO, whatever I use, does not make me successful.
Speaker 3:What makes me successful is my calendar right, because everything I need to do is on my calendar. My calendar is my number one key to success, because I don't care if I'm going to have drinks with the boys doing a podcast with you listing appointment. I get alert 24 hours before it. I get another one two hours before it and it comes to me in the form of an email, and that email does not go into that client's folder in my Google until that that action has been completed. That is my to-do list. That is my organization, that is my lead generation, because it calculates everything I need to do when I need to do it. So simplifying your systems and finding something that works for you is the fastest path to success in this business, on top of consistency in it, I mean wow, that's summed up basically and it is as basic as you're talking about here For the folks viewing this, those listening.
Speaker 1:You won't be able to see what I'm going to throw up on the screen, but, jc, if you could toss that up there, I will tell you. Guys, I being ADD, guys, I being ADD, adhd AF was difficult for me as a top producer when I was slinging going to. What you're talking about is simplify your business, determine what is necessary, what's unnecessary and, more importantly, what's necessary for you to do or who else can do it or be automated, et cetera. I found this from my coach the focus funnel, and it takes all of the guesswork out of what you do to determine your business plan, your goals, your process as a producer. You're basically taking all of the tasks that you think it requires of you to do your job from start to finish. You list those out as tasks individually and if it's I've got to go pick up signs. From putting that sign into the ground, you throw it through this funnel.
Speaker 1:Anything that can be immediately eliminated, get rid of it. Anything that can be automated, which there's plenty of tools to automate a lot of things put it on automation and anything that can be automated, which there's plenty of tools to automate a lot of things. Put it on automation and anything that can be delegated, give it to the person and then coach that person and fire in or up as accordingly. But everything that's left is up to you to do, and that gives you your basic roadmap of how do I get to these goals. Well, what does it take to be a successful realtor? Well, what is success? Well, let's first start with how much you want to make. Determine how much production it requires of you to get to that point. Yeah, jc, you can kill that, jeff. What are your thoughts on this?
Speaker 2:So, I mean dude, I feel like I could write a book about this one topic, right? I think that you will eventually, yeah, maybe. So yeah, I'd buy it. Yeah, there you go, get your book Put it over here.
Speaker 2:Yeah, and we'll put it over here, yeah, so I think you're 100% right, both of y'all, with saying that success and I put it in air quotes is a bastardized term. Okay, it's been beat the hell up. Absolutely, because a lot of people have perception with their eyes and what they see, they believe Right and seeing is believing. And you know a lot of people, like you know throughout our lives, will come up to me like man, congratulations, bro, you're killing, you're killing, you're kicking ass. No-transcript man, chris, keep it up, man, you're killing it. But in the back of our P&L mind, you're like if you only knew, yeah, if you only knew what I'm doing to make it right now, to keep pushing and surviving.
Speaker 1:No, you are correct.
Speaker 2:So success? I'll say the same thing that Chris said Success is relative to the person who hopefully can obtain it Right is relative right to the person who hopefully can obtain it right. Right, but I'll answer this in two different ways. The first one is because I do coach you know, some team leaders and some agents every so often, and I normally do like a 90-day. I don't want to be your forever coach, Right. I want to set up some platforms, some systems. If you really want to dig in, I can devote some time for you and we can figure something out right. But want to dig in, I can devote some time for you and we can figure something out Right.
Speaker 2:But for, from the coaching perspective, I would tell any, any production agent you know, even any aspiring broker owner, even any aspiring team leader, like you know, the ones that I know that are successful, have a calendar that they follow religiously. They have. They know how to time block, they follow religiously, Yep, they know how to time block, they know how to time manage, they know the worth and value of their time, yes, Right. And they surround themselves with people who will not let them fall into victim mentality. They surround themselves with lions that understand everyone's worth right, and so I think your circle. It has a lot to do with someone's success. To take it to a biblical perspective, you gotta be equally yoked. I don't know a successful person who's got a spouse who's rooting against them.
Speaker 2:I agree, I don't know a single one. I don't know a single business owner or partner and some other things that I have partners in, and I'm proud of the partners that I have. They're great people. But I've watched them, I've vetted them, I've seen them, I've had dinner with their families, had dinner with their spouses, I've been in their homes.
Speaker 2:The dysfunction is pretty much not even a thing Correct, because everyone that I know that's successful has kicked to the curb any sense or form of dysfunction in their life. Right, baby mama drama, child support drama, you know vice, you know different vices, drama, you know ego drama, yeah, all that shit, man. And so there's a lot of commonalities with people that I deem successful, right. And then the other trait of a successful person is they fight. They're fighters, right, you've got to be able to fight to be able to say you won. Everybody just wants to skip that chapter and say I'm a winner. Well, are you a fighter, right? And so that's like the coach part of it. And then I did make a note here because I wanted to make sure I nailed it right.
Speaker 1:While you're grabbing that ahead, in addition to the fighter logic, you've got to have had your ass kicked a couple of times. Yes, because it goes back to OJT on-the-job training.
Speaker 2:Amen yes, and on-the-job training for rookie agent, for second-year agent, for struggling agent. It's okay if you took the shitty listing. That's right. But, you better learn from it.
Speaker 3:Yes.
Speaker 2:Because if you go do it again, that's on you. Yeah, you know what I'm saying, so I don't want people to like to hear us and be like oh, these guys know it all. Nah, you know like. No, what I'm trying to say is like live and learn and don't repeat the same freaking mistake. Amen to that. Like, that's it, man.
Speaker 1:Like you know, everyone should at least, and I'm not saying I wish this upon you, but everyone should. You know, yeah, by it being your fault.
Speaker 2:Yeah, you had a buyer. You know buyer's agents out there. You have a buyer. You've been showing them homes for 14 months straight which is already a problem, yeah, but you've been showing them homes for 14 months straight and then one day you look on your social media and they closed with their cousin. Like you need to learn from that. Yeah, you did something very wrong assessing this person a long time ago and that's what successful people do is say, hmm, I don't like the taste of that, I don't like how that went down and I'm not doing that again. So I'm going to create new systems and filters to make sure I don't ever do that shit again.
Speaker 3:Right, but I'll end my part with this.
Speaker 2:Right. So the other part you know that was like the business part Right, but this is my definition of success right, and how you can get there. Right In just life. Right, forget real estate for a second it's having an unreasonable belief in self. My belief in myself has to be very unreasonable to anyone else that hears it, and I'm okay being the butt of anyone's joke in this city anyone else that hears it, and I'm okay being the butt of anyone's joke in this city. I'm okay of people talking shit about me on TikTok and Instagram and Facebook. I'm okay with it because the scoreboard never lies and because my dreams are so audacious that they scare you. That's a you problem. And the fact that I believe so big in this grand vision that I work day in and day out to get to, to achieve, it's not because I want to say I told you so. It's because I want to tell Jeff, I told you so, and so you have to have an unreasonable belief in self to be successful.
Speaker 3:There's so much truth in that Cause. I was literally on the phone with somebody before I walked in this office and we were talking about how she's struggling and she's trying to get her, you know, get back on her feet with the whole real estate thing. She was a high producer at one point and she was like I don't know how the hell you do this. I'm like I I held myself to such a high standard that my goal what I consider failure is under my goal and my goal is so high that I bet there may be two people in this state that'll hit that goal. And I won't hit it this year and I'm pissed about it. And I'm revamping my systems going look, but it's like I will. I am not scared to take on so much more I'm. I'm literally building a $2 million gym that's the largest gym athletic facility in a tri-county area where I live because I am absolutely confident in myself to get the job done.
Speaker 2:That's right.
Speaker 3:On top of running a $30 million real estate business.
Speaker 2:And it doesn't have to make sense to anybody else.
Speaker 1:I don't care.
Speaker 3:That's right.
Speaker 2:It ain't your money on the line and I think we would all agree, because we've been in the entrepreneur world for many years. If you're rooting against me, I can see it in your eyes, you damn right. If you think that I'm not necessarily crazy cool, but you think I'm crazy dumb, yep, I know it.
Speaker 3:Yeah, I know it, I know it Rich people rich, wealthy people, successful people do not hang out with lazy people. No, they don't. My business partner in the gym thinks the same thing of themselves as I think of myself. That's why, you see, when rich people travel, they travel deep with rich people. When poor people travel, they travel deep with drama with other poor people. When I was broke, I wanted to hang out with the top dogs. That's right, because I'm going to sit there and I'm going to listen to every damn thing you said.
Speaker 1:Yes, and that is something we can close this off with, but the idea of people's mindsets to not want to be around other successful people or people that are better than them, currently at the fear of looking bad or not being able to to match what they're doing how else do you learn you?
Speaker 3:know, and then if you're hanging out with those kinds of people, that's the wrong people you should be hanging out with. Like, I hang out with a group of guys that are very well known in the veteran community, very well known in the YouTube community, that are astronomically wealthy. They don't belittle me, right. They pick up the meals. I try to pick them up when I can. They invite me everywhere they're going and these are, as everybody here has heard of, that are literally like world famous. Those are the people that I want to align myself with, because you get to a point in your career where you're you. You you start early and you're chasing somebody. They're chasing the Jeff Garges in the world, you're chasing the Gary Kellers, the Grant Cardone, whatever. I'm at the point in my life where I'm chasing myself and I've got some really bad-ass people that are like hey, what can we do to help?
Speaker 1:That's right and.
Speaker 3:I'm like I don't need you to help me, I'm good. No, how can we help your business? And they put me on some of their social media stuff. They let me host a huge dinner event for the largest content creators in the world. That's awesome and it's like that's how you do it. That's right, that's how you do it.
Speaker 1:Find the right people. Well, much as you want to see your own success, but I think that's when the cohesiveness of growth starts to take place. You see yourself surrounded by other people that are also rooting for you, with zero vested interest into whatever it is that you're doing.
Speaker 2:I got to add man Chris is on to something right here. So the more that you demonstrate your daily efforts and your daily commitment I don't want to say hustle and grind, because that's a different thing but the more you demonstrate your daily commitment to your audacious goals and you're actually getting there and accomplishing them and then just leveling up and leveling up and leveling up all that other jazz the more cachet you have with people who are either at the same level of success that you are or greater, who will take you to dinner or take you for a freaking press juice and be like hey, I don't want anything from you.
Speaker 2:A, what A pressed juice.
Speaker 3:Yeah, yeah.
Speaker 2:Cold press.
Speaker 1:You don't have those in La.
Speaker 2:Verna, there you go.
Speaker 1:Yeah, well, you need that On your way out, hold on.
Speaker 2:I want rights to put the cold press juice bar in your gym, okay, so anyways, it'll kill it, right?
Speaker 3:It'll kill it.
Speaker 2:But but what I'm saying is you have more cache with people who will take you to go grab a steak and say hey, I don't want anything from you. But if you ever need me and they mean like from a investment or financial standpoint I will. I, it's a yes.
Speaker 3:I got you.
Speaker 2:Yeah, and I've been a part of those meetings. I think all of us probably have at some point. That's when you know that people believe what they see and know enough about you because of not what you've said, but what you've done. Absolutely, and I tell people this all the time. Right, and again, you know, yes, I actually did go to a biblical place. We all have builder's hands. It's true, we all have builder's hands, and every man and woman that's trying to make it in this world has the same 24 hours, you and I and Chris have.
Speaker 2:But we've got to go put in the work and you know it's like anything else. Lebron has haters, kobe has haters, tim Duncan has haters, shaq has haters, you're going to have haters. You have haters, I have haters.
Speaker 1:It's okay, that's right, because haters focus on winners, that's exactly right, and so I just like to work hard, and if you don't have anybody to hate, you can hate on me.
Speaker 2:Yeah, yeah, yeah that's right.
Speaker 1:So with that being the case, guys, for those of you listening, if anything that you got out of this discussion, I'm hoping that it goes along the lines of if you look back at all the things that you've done and accomplished thus far and determine how many of the mistakes that you made along that road and how many of those mistakes you made that you learned from and changed what you were doing to allow yourself to not make the same mistakes over and over I mean without being insane, so to speak. Now think for a moment. Could you imagine where you'd be at if you never made a mistake at all? Just think about that.
Speaker 1:Guys, I want to thank you for always providing some fire aspects, and I mean it just. This discussion went so many different places with so much valuable information. And it's from real shit. It's not. I read this in a book somewhere. No, I'm sure we all read in leisure. When it's time to take a look at the next something I've never done before but for the most part it's time to dig in, it's time to get your hands dirty, it's time to mess up, make some mistakes, learn from them. Don't make the same mistake twice. If you can do that, man, you'll be pretty damn successful in this business. I think For sure. Thank you both for joining. I really appreciate it. Those of you out there listening, thank you for continuing to support. We just hit 15,000 subscribers this morning, so somehow, someway, we're making mortgage and real estate sexy again.
Speaker 2:And I have a juice bar coming in to the greater La. Verna, you heard?
Speaker 3:it here first. There you go.
Speaker 1:Guys, we will catch you on the next one.
