Real Estate Marketing Dude – Podcast

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How To Leverage AI In Real Estate (ft. Nick Krem)
23 mrt· Real Estate Marketing Dude
We have seen an exponential growth in AI development over the past year. I mean, it has invaded every corner of every market and real estate is no exception. Today we are gonna talk about how you can use AI to improve your business and improve your life.
Resource
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Real Estate Marketing Dude
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Transcript:
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast. Folks, remember chatting today about a topic that a lot of people are like, What the fuck? You say It could do this. You could do that. Really? I can't use AI. I can't use automation. It's too confusing. That's stuff's only if you're really, really smart people.
00:07:07:16 - 00:07:25:16
Unknown
Do you guys? I've been literally messing with the air automation and I'm looking at chat and Tiny in the Zapier and looking at automating my content from my blog, from my YouTube channel, all the way across all social platforms. And I mean, honestly, if I could do it, you can't do it. This is not anything that is. I didn't believe how much you could do with it.
00:07:25:16 - 00:07:47:15
Unknown
I'm getting really into this in the last few weeks, so I'm really excited to have today's guest on because this is what we're going to be chatting about. We've seen this dude on social media like popping up all over my feed and he popped open a message and he's like, Yo, I want to do some podcast, but I'm probably guessing that he probably had an AI bot responding to those passages on top of it that he got on this show.
00:07:47:17 - 00:08:05:22
Unknown
But this is a really good topic to talk about, man, because a lot of people are talking about how they can get more done for less. And honestly, like some stuff you could do with I literally can replace your social media manager nowadays and it's crazy and you need to know this stuff in anyways. This isn't even just a real estate thing.
00:08:05:22 - 00:08:24:19
Unknown
This is just a business owner thing and you guys got to know this shit. So I'm excited going to their show and I'm to go ahead and introduce our guest, Mr. Nick Grimm. What's up, Nick? What's going on, man? Yeah, and you're absolutely right. You know, I was talking about this with my brother last night was my business partner, and we're like, There's not a future where you where if you don't learn A.I., that you'll still be in business.
00:08:24:24 - 00:08:40:03
Unknown
Some people think that, like, yeah, I don't need to learn that there is literally not a future where if you don't learn A.I. that you will still be in business. The quicker you get that out and just jump into it, the better you're going to be all for it. Well, I'm one of those late adopters to the sense where I'm like, No, I got to.
00:08:40:03 - 00:08:54:18
Unknown
Should I correct content? Could create content better than me. Like, fuck those guys. This guy can't create content. This bot can't create content. They can't tell me no, actually, it's helping me create its album. Me like create better content. Yeah. And it's not so much of like how to use it to replace you as much as how to use it to enhance you.
00:08:54:23 - 00:09:10:11
Unknown
And that's the way you got to look at it, folks. So, Nick, why don't you talk to us like let's take a very let's start from the high level. Don't get into really nerdy shit like towards the end here, right? So I don't know how what level people are on listening right now, but let's just get right into the use cases of it.
00:09:10:11 - 00:09:25:21
Unknown
Like, let's just go ahead and define because I think people get scared about this. I was what's the difference? We chat, graffiti and I have a thing called copy coach I use that's an AI tool that I hear other guys say, I train my A.I. bottom, like, what are your fucking pokemon? What the hell is this? Like, what are you training bots and shit?
00:09:25:21 - 00:09:46:04
Unknown
What is what's going on? So just help me understand this. So I think like the best way to put it, I think that's a great question too, because it's like understanding it's first half of the battle. You know, it's like I look back to like when the Internet first came out, there are like there were posts in the new York Times that said computer virus spreads to humans and people just didn't understand the Internet, which is why they weren't using it.
00:09:46:10 - 00:10:01:23
Unknown
So here's the best way I can say when it comes to like when people say training, I think about your chat as your employee. If you don't train your employee and then you just go in there and start asking on to do a bunch of things, it's not going to work. And you're like, Why aren't you doing this?
00:10:01:23 - 00:10:22:02
Unknown
Why aren't you doing that? So when it comes to Chad GPT, think about your Chad GBG as your lifelong personal employee that once you train it to do something once, you never have to train it to do something again because it just remembers over and over and over again. And it will only be as good as what you train it to do.
00:10:22:04 - 00:10:51:20
Unknown
So like to me, Chad GPT, you don't even think about it as A.I.. It is a lifelong employee that can just multiply what you are already doing. You can teach it how you speak and then it knows how you speak for the rest of your life. You can teach it about My ideal client profile is, you see, I'm getting a little bit more depth, but the overall view of this is just think about AI and chat CBT as your lifelong employee that will work for you.
00:10:51:20 - 00:11:12:16
Unknown
24 seven That will never quit, that will never not show up, and that will remember every bit of training you ever give it. So that well said. Like I'm like, Great, that makes sense. Yeah, like I'm in my chat now. I just signed up for like the four, right? no, I'm okay. I'm getting all kinds of new gadgets here and all different types of things.
00:11:12:16 - 00:11:31:23
Unknown
Right. But it asks you, like when you come in here, like, like basically describe yourself. And as I've been taking different training courses and I watch a lot of YouTube videos myself here, you basically, when you're training these, tell me if I have this correct, because I'm sure other people are doing this. When you're training this, I like how you said it's like your employee, but you could train it in your voice, like, Look how I talk right now.
00:11:31:23 - 00:12:00:02
Unknown
Nick I could tell is Midwest. You talk just like me. You guys are pretty. There's another fucking Midwest guy, bro. I love it, man. But yeah, we have a certain tonality that we speak with, right? And so a lot of the times when people are like, Well, how do I use chat for just creating like social content? And it doesn't sound like me, it sounds robotic, you're telling it, What do I need to have a lot of content or content, like read my Facebook profile, Can it read my Instagram profile or can it read like my podcast, for example, or my YouTube channel or stuff like that?
00:12:00:04 - 00:12:15:04
Unknown
So I mean, this is a little bit of a loaded question. Can it do those things? Yes, But here, like the first thing you have to do is like what it calls this customized chair in the bottom left. You'll see your name, you click it and it says Customize chair, and that's where you tell it who you are.
00:12:15:08 - 00:12:32:18
Unknown
And how you want it to respond. So before you go in there and start training it, customize it so that way you at least you don't have to tell it every freaking time. I am a real estate agent in Cleveland, Ohio, and to start every project, if you put that in your custom at the beginning, it's like your profile.
00:12:32:20 - 00:12:50:19
Unknown
Yeah, it's like your profile. Exactly. So that way it's like every chat, it knows you're a real estate agent, it knows the area you're located. And like, unfortunately, what I tell agents too, is like, I wanted to sound like me. Yes, you wanted to sound like you, but you want it to sound better than you when it comes to marketing.
00:12:51:00 - 00:13:14:19
Unknown
Because I'll be honest, most real estate agents aren't copywriters. They didn't come into the business thinking they had to be copywriter. So I'm not blaming them. But there is an extent of, yes, you want it to sound like you. You can go into the bottom half of what I just said. The customized and then let's hear are some common phrases are like little things that I always say or like words that I use and then words I don't use because I thought this was funny.
00:13:14:19 - 00:13:33:09
Unknown
Someone's like, I don't use chatbots because I use the word post too often. I'm like, Well, that's what happens when you listen to fucking amateurs, because all you have to do is go in there and tell it's in your how do you respond? Never use the word boast. It's almost like negative words don't use these words. Exactly. So like there's things like that, but like, I wanted to sound like you.
00:13:33:09 - 00:13:50:01
Unknown
If you really are that dedicated to sounding like you, you can copy and paste your last 30 Facebook post, put it into there, and then there's a whole knowledge base for it of like I sound like. And then you can just go in there and say, Hey, write me five more posts just like this. It's not the way I would recommend.
00:13:50:04 - 00:14:09:23
Unknown
Yeah, if you want it to really just sound like you and write like you, that would be one way to start. And this is like one use of you guys. This is like just one use of air here, right? Just on how to write like you, like there's a so and in referral suite which you guys also will be checking out and buying very soon as I release it to the market.
00:14:09:23 - 00:14:27:24
Unknown
It's coming in really quick. It's really about us. I'm going to keep you guys in front of your database, so never going to forget about you. Great sales pitch and we have a direct mail system in there that can literally use AI to create a local based restaurant campaign. Literally, it has a postcard and it goes in there.
00:14:27:24 - 00:14:43:21
Unknown
It grabs a five burger places from your local market, puts them into the postcard customized it for the postcard, and then boom, sent that out. Traditionally, that would take us like God knows how long to create and be able to customize and scale out. We wouldn't be able to do it nationally. Now we can automate it. So it's also design elements.
00:14:43:23 - 00:15:03:11
Unknown
And I do part of the same system I'm talking about is I started designing all of my images in and using canvas I tool because I'm get I'm getting the backgrounds from Canvas I tool, which is cool because there's nothing like it, right? So I can just tell it. And I know those images for our social library now standing out, right?
00:15:03:11 - 00:15:21:04
Unknown
So like you guys, I just start diving into this. I act like I'm trying not to talk. I have no idea what I'm doing. Right. But these are the cases that I'm seeing you can utilize this thing for. And guys like Nixon are just made it easy for you guys to understand it. So yeah, it's like you're a little employee.
00:15:21:04 - 00:15:40:19
Unknown
I like that analogy. It's good. Yeah, that makes a lot of sense. How long does it take to, like, train this employee? How much work is when you say train them? Like, do I have to like, do sit ups with it? Do I got to like, do bench presses? Like, just sounds like this sounds tiring. I mean, the reality is this this is where listening to pros and listening to amateurs makes a huge difference, right?
00:15:40:19 - 00:15:55:05
Unknown
Because amateurs don't even know what training is. They don't know how to do it. And then like, do like. Mike, if I ask you to dumb ass question, what kind of answer do you think I'm going to get? Dumb A dumb ass answer right? Like that's what it's going to be. This isn't like school where there's no such thing as a dumb question.
00:15:55:11 - 00:16:19:20
Unknown
There is a right way to do it and a wrong way to do it for us. So like we have, we created a certified agent. We have a list of about 13 to 15 different prompts. You ask it before you start asking it for like for pose, for emails, for content, for this or that. So the first thing I always tell people is clearly identify your target audience because that's like you go to any marketing class, what do they say?
00:16:19:20 - 00:16:45:11
Unknown
Create your avatar before you start creating content, creating marketing, create your avatar. And this is the exciting part because when you actually create your avatar within there, it remembers it's in the certain chat that you create. So like, for example, when you create your create your ICP, your ideal client profile, you want, you don't want to just say buyers, first time homebuyers are great target audience, which LGBT is a first time millennial homebuyer or in Sarasota.
00:16:45:15 - 00:16:59:21
Unknown
So go deep, right? And then dude. And that's just the beginning. You're absolutely right. Going deep. Then you ask it What are the goals of a first millennial homebuyer and Sarasota, Florida? What are the fears? What are the motivations? What will happen if they do get a home? What will happen if they don't get home? One of my favorites.
00:17:00:01 - 00:17:18:16
Unknown
What's the internal dialog of a first time millennial homebuyer in Sarasota? And then you ask it all these questions and then this chat is now trained on all of these things about your target audience, and then you start asking it, All right, now write me a five email sequence. Go into these people now write me three Facebook posts.
00:17:18:18 - 00:17:37:07
Unknown
Why? Because it knows the goals, fears, motivations, internal dialog, all of these things that's now trained on. So that's done. Doesn't sound very long. It doesn't do. That's the thing. You have to do that. No, go ahead. It's this reminds me of like Pokemon Summer because I my kids like that stuff. I just like they train the Pokemon, right?
00:17:37:07 - 00:17:56:01
Unknown
And it becomes more powerful and smarter and then he like, become super Pokemon and it's like you started doing that with your employee here and then what you do over time is like, you go through that and then you start asking you to create these prompts and you're like, Well, I like it more like this and this. So now it starts getting trained, even how you like certain things done.
00:17:56:03 - 00:18:13:08
Unknown
So then the more you use it, the better trained it is. But it all starts at the beginning is how well are you identifying your target audience, How well have you trained, and on what their emotions actually are in the process? Because yes, you can teach chatbots to speak emotionally in your marketing. If you do it right. It's got to be trained.
00:18:13:08 - 00:18:27:05
Unknown
By the time it does it out the box, it's not going to come out and being like, it's just like your employee, like, you know, editors on staff, they don't start out like the way we want them they ever could edit. But it takes us about 60 to 90 days to train them, which is about 20 to 30 plus videos.
00:18:27:05 - 00:18:46:15
Unknown
They have to do and plus hours and all that. And then they go through this process and now they're they're great. Now they're hands off. No differently. Guys, when you're when you said train it, I'm like instantly thinking of like, my God, look at the market. I'm going into people who are missing credit card payments. I'm going after nodes, going after late payments and distressed right now.
00:18:46:19 - 00:19:05:23
Unknown
Right. And that's one category of content. Then I'm going to go create another one for divorce. Then I'm gonna create another one for all these life scenarios because those are the only people moving right now, folks. Is that how you could basically create what I have to create like multiple chat beats per audience because there's so many different types.
00:19:06:00 - 00:19:26:23
Unknown
Yeah. So what you would do is like for these different ones you wouldn't want to create. It's the same chat GPT account, but you open up a chain so you just click new chats and then only change, only train that chat on this ideal client profile and then you go in depth on it and every time you want to go get more information, go back to that chat.
00:19:27:00 - 00:19:43:24
Unknown
And it keeps and it keeps getting smarter and smarter overall. It's like right now it's almost like having a I mean, look at you have a YouTube channel, right? People get this concept, you have a YouTube channel, you put one video on, it's like, Great, this guy's awesome. Then you then there's a guy who's been on it for five years and he's got thousands of users like, Wow, this guy's legit.
00:19:44:01 - 00:20:01:20
Unknown
Same concept, right? Yeah. So, so it's the same concept. There's actually something brand new that came out January 12th that is literally going to put about 80% of AI startups out of business. On Chad GPT. They came out with Chat Store. So if you see now you said you just upgraded to four, right? So you did the pro.
00:20:01:20 - 00:20:20:06
Unknown
Yeah I'm in there right now. If you look on the left you'll see explore GPT TS Right. Yep. So you click on that and there's literally Canva AI built into Chad. GPT Now there is 11 labs which is the ones with this as Yeah, wow, that's built in there. You can really just go in there, think about it like Netflix for AI.
00:20:20:11 - 00:20:36:23
Unknown
So all these AI startup companies that were really transparency on the back end, right? It was like Scooby-Doo, you take the mask off. Well, it was strategy beat the whole time. You can literally go in there and just type in real estate and you'll see a bunch of real estate like trained, ready to go, Chat's ready to go.
00:20:37:02 - 00:20:56:12
Unknown
One of hours in there, I'll do a plug. this is my listing, buddy. Creates all your listing descriptions, create your marketing materials for your listing, creates all your openings, it creates it right here. Boom. And that what is saving agents hours every single day. Here is another way that we utilize this feature. So, look, I'm not the YouTube guy.
00:20:56:17 - 00:21:15:08
Unknown
That's just not been my jam. But of course, a lot of our clients that want to learn about it is like, I want to learn at YouTube. Here's what we did. We bought a lot of these courses that are out there are these YouTube courses that are out there, right? So this is where it's like, Dude is great because how creative can you be with using it?
00:21:15:10 - 00:21:37:00
Unknown
We bought a lot of these courses. We transcribe the courses and then with the custom GPT, we put all these courses is a knowledge base behind it and then you just go in and you can ask questions and then it's like, what are the top ten headlines? It reads all these courses that these people came out with, say, here are the headlines for this target audience.
00:21:37:02 - 00:21:53:21
Unknown
So now we have a bot in there which is only available to our students, but it's YouTube AI. So it's like, look, I might not know this, but I use the best people I know as a knowledge base, and instead of watching a 510 hour course and trying to think about how to do it, chatbots is already trained how to do it.
00:21:53:23 - 00:22:10:24
Unknown
See? Like if so, let me tell tell me if this is a good or bad idea. This sounds like a really good idea, but tell me using. Yeah, we made this just created 3 million our business idea. If I'm a brokerage, why not creating a hyperlocal version for a brokerage and just owning that and then send that to my agent?
00:22:10:24 - 00:22:31:24
Unknown
I'm talking about become like a local celebrity, local digital mayor concept, right? Where they just they're literally like a tour guide. Like, you just like that would just be so awesome to have on a site. Yeah, absolutely. I mean, that just like, makes a whole lot of sense. It's almost like, yeah, I mean, I and we're probably only scratching like, what, Like 5% of what the capabilities are.
00:22:31:24 - 00:22:47:21
Unknown
This this is so early on, right? Even 5%. And it's just amazing how it's going to continue to evolve in like what I think people need to understand is the more it evolves in, the more in-depth it gets as it goes, the harder it's going to be to just jump into it. And you might say like, that's that.
00:22:47:21 - 00:23:03:24
Unknown
Like it's not the case. But I paint this picture for some people. I was just in the Apple store. Mike I was an Apple store, and I don't know if you've seen this, but there's like there's a section where it's old people sitting around a desk and there's this guy saying, All right, now open up your email. Here's how you open it.
00:23:04:02 - 00:23:24:08
Unknown
And he's giving the computer lesson like how to use the Internet and open up your email. We have a lot of clients like that that is going to be people in the next five years when it comes to A.I., if they don't, like, start just trying to learn the basics, because right now it's easy. You get in there, you learn the basic, you learn how it works, you know how things are evolving.
00:23:24:11 - 00:23:41:11
Unknown
And as it evolves, you're gonna be able to pick up and keep up easier. But if you wait a couple of years and it's evolves into, well, how does this really work? Well, now let's go back to the bit like there's a huge learning curve that will come. It's the perfect time to get into it and start learning the basics and how it works.
00:23:41:13 - 00:24:00:09
Unknown
Yeah, I mean, I just clicked on your like I'm in his, my in my listing buddy. Like, this is pretty cool. I'm going to throw you a little plug below. You type in here like he's got like an ace, like a type in the career listing description. Create all marketing from write listing, create marketing for just sold or create my marketing for my open house.
00:24:00:09 - 00:24:20:04
Unknown
So basically, it sounds like you have a system behind each one of these four prompts. You wanted to do four things for my listing buddy, and once I tell it, if I type in here, describe my four bedroom, three and a half bath ocean view, front house with a three car garage, I want you to put a maserati in the front, put a pool in the back, make sure that fucker has a hot tub attached to it.
00:24:20:04 - 00:24:52:24
Unknown
And I want the world's best looking, you know, outdoor kitchen like this is going to come up with know it's not going to come up with the images. I mean, I'm reversing. I mean, I'm sorry you're describing. That's my I'm writing the listing description. Yeah. Yeah. Okay. So essentially, like, what we tell people is you just take all the, all the things you put into the MLS, like all the facts and features and then you put it in there for create my listing description and then boom, it creates your listing description and it creates like 2000 characters or less, or that you put in the MLS and then you copy and paste that listing description
00:24:53:01 - 00:25:12:06
Unknown
and then you just paste it in to create all my marketing for my listing. And then it's trained right to Facebook, post to Instagram post with hashtags, a YouTube video script with keywords, headline and description, two emails inviting buyers and a Facebook ad copy. And it's trained on like good copy on the back. And a lot of the copywriting that we put on the back end.
00:25:12:08 - 00:25:35:07
Unknown
Then the same thing with your open house, you copy and paste your listing description and just say Open House is next Thursday at 2 p.m. and it writes same thing like all your materials for it to awesome. Yeah, yeah. I mean I could see the amount of time even we had a need in our company now where we're trying to, you know, for, for our content distribution.
00:25:35:07 - 00:25:52:22
Unknown
We want to distribute our content for our clients in more places. So we want to you, we want to take our videos and upload them both short form and long form to that LinkedIn and all their social profiles. And our problem we're having right now is that every time if you try to log into someone's social profile, you're gonna get like a security check and then you have to like, log in and then they have to tell you where you're at.
00:25:52:22 - 00:26:17:16
Unknown
So like, it's literally impossible to try to post content on behalf of people when you're in video or anything right now. Right. Or use a social tool. So we're testing it with this process because it bypasses all of that. And just short answer, does that work? Would which work if I'm just content distribution? Just so if I wanted to streamline all my content distribution, I, I can't say confidently yes or no.
00:26:17:16 - 00:26:35:12
Unknown
We haven't tried that yet because like the personal profile you say, like posting on the personal profiles on the business pages, I want to take like business pages so it's not as personable, it's just more business, you know, like, yeah, I mean, hello, Roofie. That's the one that we recommend for people to use because it'll even like Roofie is the name of it.
00:26:35:14 - 00:27:01:03
Unknown
Hello, Wolfie. I said, Hello, Roofie. I'm like, That is like all these platforms. They did it. It has like 15 different platforms that you can post from at once. You know, it does business right for you. And then even if it's your personal you can like for your clients, you can set them up on the account and then schedule their personal and for them it'll just pop up every day like, this is what they want us to do, you know?
00:27:01:03 - 00:27:18:09
Unknown
And that's why we're trying it. That's what we're trying to solve for. And I was like, Okay, how do we figure this out? Because it's not working this way. And it it's this sounds, it's cheaper, it's more economical, you know, scale like, hello. Yeah, it's well, and that's what people don't understand too. It's like, man, So we were marketing.
00:27:18:09 - 00:27:35:13
Unknown
Like, we are marketing, we're still marketing branding company, but now we specialize in I Why? Because our asses, we're going out of business. If we didn't make the change because I look all the things that we were doing for clients that they pay us thousands a month to do. Like now I can just train them. Well, what was the first business here?
00:27:35:15 - 00:27:52:01
Unknown
So. Well, my brother you got before you got into the the AIDS stuff. Because what happened prior? Not then. Tell me about that, because that's going to have some relevance to some of these realtors. Yeah. So for like, for the last five years, my brother and I, like, we traveled really the country learning from a lot of the top agents how they do doing their marketing and branding.
00:27:52:07 - 00:28:14:13
Unknown
And then from there we launched a lot of different like services and products like as far as like creating your whole online platform, like your interview platform, how to create your podcast and do these things, how to create all your entire branding and marketing materials for social media. Now, we got into shorts before a lot of people going into shorts, creating shorts for people on how to repurpose your content that you've already created.
00:28:14:15 - 00:28:30:13
Unknown
And then what we did is we actually had a seven bedroom content house in Orlando, Florida. We lived in three of the bedrooms, had a full time cameraman, and my myself and my brother and clients would fly in from all over the country. They would stay at our apartment downtown, come to our house and shoot 30 days worth of content in one day.
00:28:30:15 - 00:28:49:05
Unknown
But we would sit there and we'd be like, All right, We would go to the whiteboard. Who is your ideal client profile? Who are we making content for? And then we would write it down and then we would say, What are your goals? And we would sit there for almost half of the day and come up with that person's goals, their fears, and try and get inside of their mind about all of these things.
00:28:49:07 - 00:29:05:16
Unknown
And then we would sit down and shoot all the content with them. Once we knew that and then we would go from there. Then this is where I had a full team of copywriters, graphic designers, video editors on the back end, because then we would take their videos, transcribe them, send it to our copywriters, and they would write emails that would go out.
00:29:05:19 - 00:29:23:08
Unknown
Then they were a blog post that would go out. Then they were right Facebook posts and I was like, Well, that's done in about 3 minutes now using Chatbot. Yeah. And then we would send it to our video editors and then they would. We had one person's job on our staff was to watch people's videos and say from 2 minutes, 2 seconds to 2 minutes, 50 seconds, clip it.
00:29:23:10 - 00:29:39:22
Unknown
Then they would send it to the Clipper, then they would send it to the subtitle person. Then they would send it to the copy person who would put the headlines on it. That video is now done using Opus. It does all that for you within about 3 seconds. So I was like, Man, we are literally going to go out of business if we don't make this shift.
00:29:39:24 - 00:29:59:13
Unknown
Yep, yep. Let's what let's go on to just for realtors in general. Like what? Let's look at the applicable users. I like everyone. What do they need to be using? Like at the bare minimum? Like where do you get started with? And then you're in real estate. Here's what you have to be doing right now. Have bare metal.
00:29:59:15 - 00:30:21:16
Unknown
Chad is the bare minimum. Chad You you get the pro version and start exploring the the custom teams. Because from there, like I said, 80% of those startups that that they've been seen other time are now built into Chad. So get into there and then just start getting comfortable with how to train your chad. GPG I think that's almost a bare minimum.
00:30:21:18 - 00:30:42:23
Unknown
The other tools that we say because we go deep on five, so I guess I'll go through those five. The next one which I love personally is called Hey Jenn, why? And so you literally create a video duplicate of yourself. It looks like you and it sounds like you. So we have real estate agents. They take their market updates and then put it in the.
00:30:42:23 - 00:31:01:03
Unknown
Hey Jenn, you have a market update video of you saying it. You take your listing videos, pictures behind it, your listing description, make your market update. Are your listing video or I thought this was creative. One of the agents did this. They went out and they got happy birthday balloons and a hat. They created an agent avatar and they said Happy birthday videos to every one of their clients.
00:31:01:03 - 00:31:28:00
Unknown
Now I'm open top. God, that's dope. Open stop Pro opus just creates shorts for you or reels at scale. You upload your 50 minute video, gives you ten shorts within seconds, so pick the good sound clips out of it. It takes like. So yeah it is determined that's always been that's the hardest part is getting like a given this show like finding someone to come to this show and just take There's a lot of nuggets we've already had here, probably a lot of good repurpose content.
00:31:28:02 - 00:31:48:12
Unknown
How does does it know that the grab the nuggets right here. Yeah great question. So it's actually trained based on the algorithm and what's online to look through your video, find the highest engaging points in the video, and then it even gives you an engagement score on the side and it tell you what you can do better. Or if you want to like make more engaging content.
00:31:48:16 - 00:32:19:02
Unknown
So you have like an engagement score on the side, a description for you, the subtitles on there, you can turn on and off B-roll, so I'll add B-roll to your videos. So that way, like you know how media works from there, I did one of my personal favorites called Merlin Get Merlin. Diane So this one, it follows me around to any website that I go to and like, let's say I Google something, Merlin's on the side and it reads the top like five or ten links and gives me the summary from all of the links of things.
00:32:19:02 - 00:32:34:03
Unknown
I just Google. I can go to any landing page and it gives me the summary of the entire landing page and create other copy for me. It responds to emails for me. So a little it reads the emails and I could just say, Hey, let them down nicely, but say I'm not interested. And it responds in a very nice way.
00:32:34:08 - 00:32:53:22
Unknown
Or you can counter and offer and it'll counter each one of the points and then give you the new price. So that's what we use there. And the last one was virtual ad. I think that was just super simple stage homes virtually. And then like if you're looking for buyers, you can let show them a home and be like, how would you like how would you like to design this home?
00:32:53:22 - 00:33:11:20
Unknown
So you can sit there and design homes with buyers to see how interested they really are in it. That's cool. Yeah. And a lot of this too is like just you guys imagine like the if you're communicating this way, imagine a brand that's been built on a side like because or people will hire you for like how you're doing business, not one.
00:33:11:22 - 00:33:26:00
Unknown
Like you're going up against a bunch of blue hair, gray haired agents and I'm the blue hairs, right? Yeah. And they're traditional, right? So a lot of agents are the newer agents has this question all the time, How am I going to break into this business? Well, there you go, dude. You start doing it differently than all the old school people.
00:33:26:00 - 00:33:44:03
Unknown
Remember, the average age of realtors, I think was last I checked, was 54 or 56 and a half years old. Yeah, I'm 43 and I'm behind the eight ball. Just me. I'm just no dig to you guys, the 50 year old man. But yeah, I'm sure you're much like I am. Right? And then that sense and the young bucks come ready right around here.
00:33:44:03 - 00:34:13:23
Unknown
Those young whippersnappers and those. Those young bucks. All right. But that's what happens. Called innovation innovation, folks. And and nobody is going remember in real estate, whether you want them in or not, your commodity or service service based business. And that service based business is only as has longevity until the next recipe comes out, the next best tasting food or the next best thing or the next best offer, the next best version.
00:34:14:00 - 00:34:32:19
Unknown
Carvana is going through that right now and in the space, but for some weird reason, the stock's going through the roof. But it's I have been to one of these conspiracy theory things that's a lot of the podcast, but you know, I mean, like this is people remember how you do things right so you could I'm just talking about how you market this and have it come through.
00:34:32:19 - 00:34:53:08
Unknown
Like you could just literally say I just used AI to do my listing packet, right? And then someone's going to see that. Yeah. And they're not going to think you're taking a shortcut. They're going to think, Holy shit, this person is advancing, gets marketing. Yeah, it's like that's, that's part of like what we're teaching agents how to do tools like that as certified agent program.
00:34:53:10 - 00:35:13:08
Unknown
Part of it is the AI listing advantage, right? Yeah. So it's how you market and packaged things 200%. Use it on the back end. We have agents sitting down on the listing appointment on the back end of it. We carve out 10 minutes. There's a video sharing how important AI is and then you sit down with them using the tools that we give you and you show them, You know what?
00:35:13:08 - 00:35:29:02
Unknown
I'm going to show you how out market your house using act now how I did other homes and you sit there with them and just click enter a couple of times based on the programs you created and it creates it all them right in front of their eyes and they're like, You know, other agents spend hours, days or even weeks figuring out how to market your property.
00:35:29:08 - 00:35:50:05
Unknown
I did it for you right here so I can spend all my time selling your home and notes. I'm trying to figure out how to market. Yeah, right. I'd rather spend time selling your house and preparing to market it. Exactly. Makes a lot of sense. I do. Since 2014, when we started to show we had the initial message for this show was don't be an agent, be a marketer.
00:35:50:07 - 00:36:09:09
Unknown
Yeah. And back down. It was like was a 24th back down. It was like we're talking about bro, like Rooster and Rooster. Now you see people are talking about database and brand and personal brand and content creation and this stuff. All started happening and this is it. This is the next thing to say. I movement. I'm a fan.
00:36:09:09 - 00:36:30:09
Unknown
I like it. What other thoughts? Any other closing thought you want to give people? What else could we use this for? For George? Yeah. You know, I think it's just really understanding what's happening here that you know, on social media through commercials and things that we see, we almost get like immune to big things that are actually happening in the world because every commercial is the next best thing.
00:36:30:14 - 00:36:57:02
Unknown
This is advancing technology and it's like a Roomba or it's like something that's just like a squeegee. And the latest technology is out. This is artificial intelligence getting introduced to the world. This is the next advancement in technology to human history that is happening right now. And the next five years, there will be some agencies say that was the year that everything changed for me because they jumped on to this and they understood what was happening.
00:36:57:06 - 00:37:13:01
Unknown
And then there was going to be everybody else. And years have to decide. It's not a question of if you have to learn this, it's a question of when you choose to, because you're either going to choose to get into an hour, be forced to do it later. So you just had to make it's a business decision. Would you rather wait your app?
00:37:13:01 - 00:37:31:22
Unknown
Go ahead. Would you create I mean, is this as big as like the Internet? It's bigger than the Internet. Yeah, I think so. Literally bigger than the Internet. And, you know, it's just taking a look at it and saying, when are you going to choose to get involved in it? This is changing the world. The biggest companies in the world are spending billions of dollars to get ahead of this thing.
00:37:32:01 - 00:37:59:20
Unknown
They're stopping everything they're doing and focusing on A.I. real estate agents. It should be no different. So if you think this is a passing fad, if you're one of the people who are the amateurs who tried it and then said it didn't work, remember this? There were millions of people who gave up on the internet when it first came out in the New Times was calling it a passing fad, which what are you going to choose to do yet stalled.
00:37:59:22 - 00:38:15:24
Unknown
So the guy over here in the Midwest. Yeah, I mean, that's it. I mean, sad. It's just it's here, guys. Whether you embrace it or not, it's up to you. But if you're sitting there twiddling your thumbs, wondering how you're going to get out ahead because there's no houses to sell the wall, what the people pay you for your skill set.
00:38:15:24 - 00:38:32:13
Unknown
That's really it. Yeah. And while yeah, you might not be selling a bunch of homes right now or maybe you are, I don't know, but you got to sharpen your skills. The reason why I'm taking courses, I've taken two courses this month. Yeah, I'm sharpen skills like I'm going out and I want more, you know, So it's like, this is the next thing I'm on.
00:38:32:13 - 00:38:54:11
Unknown
I'm probably buy your shit, check all that out. But still, it's because you have to learn this stuff. You guys, you just have to put your money where your mouth is and your broker can do it for you. Yep. You know, if you're one of these mega brokers, I could do it for you either. It doesn't matter. You are the CEO, CFO, CMO and everything and everything and the buck stops with you.
00:38:54:13 - 00:39:13:22
Unknown
Neck watched people watch you. Where can they learn more about you? Yeah, so they could just go to cram I everything they need to know about myself. My company is that crammed I we started the Chrome Institute of Artificial Intelligence. We created the world's very first as certified agent and we dropping certified agent 2.0 actually this week, tomorrow.
00:39:13:24 - 00:39:38:15
Unknown
So we're dropping that tomorrow. Why? Because we spent the last year with agents every single week figuring out more about how they're using AI, what's actually working to get them listings. We're about to launch 2.0 after an entire year of studying with all these agents. Awesome. Go check out his stuff, guys. Appreciate you guys. Let's another app. So the Real Estate Marketing Dude podcast visit our software referral suite Ecom re first FT.com just like the sweet candy, the WPT.
00:39:38:17 - 00:39:54:24
Unknown
We keep you in front your database and I think I want to put next course in there as well, because this is some good shit. I like it, man. Congrats and keep it up. All this guy files social profiles. Guys. I will see you guys next week. Bye. Thank you for watching. Another episode of the Real Estate Marketing Do podcast.
00:39:54:24 - 00:40:15:19
Unknown
If you need help with video or finding out what your brand is. Visit our website at WW dot Real Estate Marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:40:15:24 - 00:40:18:18
Unknown
Thanks for watching Another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Housing Data Analyst Deep Dives Todays Opportunities (ft. Neal Bawa)
16 mrt· Real Estate Marketing Dude
We are talking about investing today. It's a big one; there are a lot of changes coming in the market and investing might just be something you need to look at.
Be sure to check out Neal Bawa, he's giving away the answers to the top 10 irrational questions that investors ask and how you should answer them.
Resource
Check Out Neal's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webmaster Real Estate Marketing, and this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them.
00:01:24:15 - 00:01:36:16
Unknown
Let's get started.
00:01:36:18 - 00:01:52:14
Unknown
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast. Folks, we're here with a rock star, a legend. You might have seen his name all over the damn place. This guy knows what he's talking about when it comes to investing in real estate. As a matter of fact, he already has invested and runs and maintains $1,000,000,000 fund.
00:01:52:20 - 00:02:11:08
Unknown
So I'm going to get right to it today because I have a lot of questions for him, mainly around which way the market is going. The reality is a lot of people listen to show are in real estate or in lending. 90% of y'all have never even seen a market that shifted in this capacity, in this way. And a lot of people don't know necessarily how to navigate that either.
00:02:11:13 - 00:02:29:23
Unknown
But where there's doom, there's gold, not gloom, because when you know how to shift and play, navigate these different types of waters and you listen to someone like who I'm going to introduce to you in just a minute, pay close attention and take notes, because when the market shift is often when people get really rich, I mean, I think this is.
00:02:30:00 - 00:02:44:24
Unknown
Would you agree with that, Neal? I mean, that's why a lot of these that's is where a lot of the opportunity comes in. So let me go ahead and introduce our guests and let me give you a proper introduction. And I'm going to line up this because we got all kinds of questions for you today, right, Neal? Neal, want you to write himself, Who are you?
00:02:44:24 - 00:03:06:19
Unknown
Where are you from? What do you do? Let's go. I'm a technologist. I'm a data scientist. I come from the Silicon Valley culture, and it's my job to disrupt real estate, disrupt real estate development. We publish massive amounts of data for free on 323 metros in the United States, and we rank them for real estate investing. We give that data away for free.
00:03:06:21 - 00:03:37:00
Unknown
There's no subscription, there's no upsell. And as a result, we've managed to gather a bunch of nerdy, geeky, you know, folks, mostly in our doctors and engineers and technologists who believe that real estate investing should be data driven. And those folks have given us $300 million of their money, about a thousand investors to both buy and build various different kinds of real estate in the United States were hot on apartment student housing built around.
00:03:37:02 - 00:03:54:24
Unknown
But we also do self-storage and industrial a lot of it. I we've had a couple people on the show that the self-storage space and I my mind was blown at some of those just different conversations. But let's start with the data because I agree, data is where everything goes down. It never lies, the numbers never lie. And in general, I know you do a lot multifamily.
00:03:54:24 - 00:04:22:12
Unknown
You're doing a lot of stuff into the commercial market. Let's stick to residential just for this question and I'll go to the next one. But from residential, what does the data say? Because what I'm seeing, I subscribe to the capacity letter. I like reading their posts a lot right? And I'm seeing high loan defaults on cars. I'm seeing hi, I'm seeing in our data we're seeing a ton of stretched out credit card debt, missed payments just starting to happen.
00:04:22:14 - 00:04:41:08
Unknown
A lot of people will be like, Hey, is this going to be 2007, 2008 all over again? And what do you say to the answer? What's the data say collectively speaking to then and now? Let's first do the economic piece and then I'll talk about real estate. Right? So the economics says that we are definitely on track for a soft landing.
00:04:41:10 - 00:04:58:11
Unknown
I don't feel like this is 2007. I think it's fashionable to say it's like 2007 because you always want to be the person that said, Hey, five years ago, I told you so, I'm not going to go there. So I'm I'm looking at the data and I am absolutely amazed at the unemployment level. So we're at 3.9% unemployment.
00:04:58:15 - 00:05:18:15
Unknown
We produced 322,000 jobs in February. This is being recorded in March of 2024. And when I'm looking at that unemployment rate and I'm looking at the fact that inflation's come from 9% down to 3.1%, that shows us that the Fed has done its job and everyone likes to beat the Fed. And I'm actually no different. I love to beat the Fed.
00:05:18:15 - 00:05:37:17
Unknown
But in this case, I have to grudgingly admit that the Fed has actually been right. The Wall Street thought that we would have seven cuts this year. Then they thought we had six, then they thought we had four. And now they think that we have three. Yes. What, 18 months ago, the Fed was saying we would have three job cuts, two or three cuts into 2024.
00:05:37:21 - 00:05:54:24
Unknown
So for the moment, one has to grudgingly admit that the Fed has been right. The economy is moving towards a soft landing. A soft landing is not fun. Just the you know what the definition of a soft landing is. Yeah. Can you define that? Or a soft landing means that the growth of the U.S. falls to almost zero.
00:05:55:05 - 00:06:11:16
Unknown
And that's going to happen in Q3. That's going to happen in Q4 of this year. So the second half of this year is going to feel really shitty. It's going to be like a recession. You're right. Now you're seeing if you go back and look at the last three months job growth, it's been near 200,000, 300,000. What you're going to start seeing that job growth fall to 100,000, 50,000, 80,000.
00:06:11:16 - 00:06:32:15
Unknown
Those are very low numbers for a country of 330 million people. So when you're only growing 100,000 jobs, the economy is basically at a stall state and you're going to see that stalling happening in the second half of the year. And that's what the Fed wants, because as you get close to a stall date, demand dries up. If there's no new jobs being created or very few new jobs being created, who's going to create the demand?
00:06:32:15 - 00:06:48:10
Unknown
We're going to spend the money. Well, if you don't spend the money, what's going to create inflation? Because there's no competition for new goods when there's no competition, that brings inflation into the tooth. And that's the Fed's job to bring the inflation down into the twos, two and a half percent range so they can achieve their soft landing.
00:06:48:15 - 00:07:08:16
Unknown
So we're going to see some fairly shitty conditions in the second half of this year. But I don't expect the economy to go into a recession, which is negative growth, right? So the rest of the world is ahead of us. So at this point, Germany, the UK, Japan have already gone into recession. China is slowing, India being the bright spot of the world right now at 8% GDP.
00:07:08:18 - 00:07:30:13
Unknown
But when I'm looking at it, all of the other countries are ahead of us. The United States is actually the the primary shining spot with our stock market staying high and our job growth staying high. But that cannot last because people are like, Yeah, but the Fed is an increasing rate anymore. Imagine this when you've raised interest rates by more than 500 basis points or 5%.
00:07:30:15 - 00:07:55:09
Unknown
Imagine a £200 weight sitting on the chest of the economy. Well, that £200 weight has been sitting on the chest of the economy for a year and a half, and it was its heaviest for the last seven months. The Fed hasn't raised interest rates for the last seven months, but you still got a £200 set. You know, it weight sitting on the chest of the economy and that's dragging and slowing things down and it's slowing it down just right.
00:07:55:11 - 00:08:20:18
Unknown
So speaking of rates, what are we looking at? You just mentioned it. You know, we're supposed to have more cuts within it. We did. Or you know what? People don't really know what to expect. And I'm looking at the Fed chocolate and that shows three quarter point cuts, one in June, one in September, one in November. And I think that we're going to get those three rate cuts this year and then we will have an accelerating rate cut next year.
00:08:20:18 - 00:08:40:22
Unknown
Once once inflation's down to two and a half percent, then the Fed can accelerate because that's not interested in keeping rates this high. There's this nonsensical, very social media driven myth that the Fed, the rates are going to stay high. Why would you rates stay high? Have you seen how rapidly world growth is slowing? Population growth is slowing, the world is getting older.
00:08:41:00 - 00:08:56:19
Unknown
And as the world gets older, it consumes less. People who are 65 years old consume a lot less than people who are 45 years old. So when you look at demographic trends, when you look at large scale trends in the world, all of these trends are leading towards deflation, none of them leading towards inflation. Perfect example, Japan, right?
00:08:56:21 - 00:09:18:21
Unknown
Their stock market last week hit the same number that it hit last in 1989, which meant that basically for the last 25 years. Right. It wasn't just 35 years. Their stock market has been down from where they are. Why? Because their population is getting older, right? They have a very, very low birth rate. Their population is falling. And so Japan's state a great country in those 35 years.
00:09:18:21 - 00:09:36:09
Unknown
There's still a magnificent economy, still number three in the world. So they they haven't crashed and burned, even though their debt to GDP is double that of the United States, double that of the U.S. They haven't crashed and burned, but it has meant deflation in their economy. They constantly have to create inflation in their economy to keep things going.
00:09:36:13 - 00:09:57:19
Unknown
And so when people actually come in and say inflation will stay high, there's no data behind that at all. Interesting. This is good stuff, Neil. Very good stuff. I'm sure I know what our listeners are doing in two different directions, right? So like the Ukraine war was pulling in the direction of energy being expensive, which means inflation up.
00:09:57:21 - 00:10:21:03
Unknown
But the rest of the world, when you look at the world, maybe with the exception of the African continent, everywhere, birth rates are falling everywhere, growth is slowing everywhere, people are getting over everywhere, consumption trends are going downwards. Inflation is simply a factor of demand. And if in 90% of the world growth is slowing, demand is slowing, how do you create inflation?
00:10:21:05 - 00:10:40:09
Unknown
I can predict that in two or three years we'll be trying to create inflation. And finally, I want to share a data point with you. Like forget forget what happened in the last 24 months, because we all know that this inflation was created by a break in supply chains and the ridiculous $4 trillion that be injected into the economy like idiots.
00:10:40:11 - 00:10:58:17
Unknown
Right. If you hadn't done those two things, let's look at what happened to inflation ten years before that. All of the things that people scream and yell about were happening for those ten years. But inflation in the United States was under one and a half percent for the ten years before COVID. Right? So all the bad stuff that we're talking about, money printing, it was happening, right?
00:10:58:21 - 00:11:23:24
Unknown
We were doing quantitative easing. It was happening. Inflation was at one and a half percent. The Fed was struggling to get it up to 2%. Right. So look at the Fed struggle. Study those things, go out and stare at charts on the St Louis Fed website to understand that in the real world, right, economists have challenges and their biggest challenges are not supply chains because those are obviously fixed.
00:11:24:01 - 00:11:46:12
Unknown
Those challenges are that we are not producing enough babies. That's a problem. How do you fix that problem when the world is 100 million baby short every year? Wow. So this is a big picture. And you opened up saying I'm a data scientist, which is interesting. I mean, anyone who should actually come on like that is like I'm an investor, I'm a data scientist, and I love that approach.
00:11:46:17 - 00:12:08:09
Unknown
So let's now I think we've got a good picture of the economy here. We got some good worldview here. What's going on overall or saying here, guys? So you're tracking at home. Consumption is down and with consumption down, demand's down with demand down, then, you know, this is how it all eases out into inflation. Now, in terms of real estate and investing and or whatnot, what are you guys doing right now?
00:12:08:09 - 00:12:25:14
Unknown
What do you see based on your data, your brain? I don't know what the hell is going on up there, but there's all kinds of gears turning right here. What's happening? What are you where do you see the opportunity? Where are you going? Where are you advising your investors to go? So for the for the moment, the single family and multifamily markets have diverged.
00:12:25:19 - 00:12:49:23
Unknown
So single family and multifamily are the two largest asset classes in real estate. Nothing else comes close in terms of large after classes, right? They've diverged. And it's an interesting diversion since interest rates started rising, Single family homes in the United States are up about 3 to 4%. So they've gone up, right? So it's been slow growth because we are talking about a two year time frame where, you know, prices have gone up by two or 3%.
00:12:49:23 - 00:13:11:15
Unknown
So you're talking nationwide. You're doing nationwide. Nationwide, Right. So it varies. You know, the hot boom towns are down a few percent. And and the Midwest markets and the Northeast markets are up more like 6%. But the overall average in the U.S. is about 2% up in the same exact time frame. Multifamily prices in the United States are down 20 to 25%, once again varying by metros.
00:13:11:15 - 00:13:38:03
Unknown
Some metros are down ten, 12%, other metros are down 25, 26, 27%, especially the Boomtown metros like Phenix, which have oversupply. But bottom line is normally single family and multi-family tracked together because they're dependent on the same sort of things, but because single family has something that multifamily doesn't have the lock in effect. Remember, what happened is with multifamily, we all were tied to addicted to bridge lending.
00:13:38:03 - 00:13:59:00
Unknown
So we were basically taking floating rates, whereas with single family, 99% of all homes that were purchased in the last four years were purchased with ultra low interest rate. 30 year fixed loans. That lock in effects means that 20 to 25 million American families like me, I have a 1.75% mortgage. If I go somewhere, my mortgage jumps from 6000 a month to 15,000 a month.
00:13:59:00 - 00:14:18:01
Unknown
Right? I can't go. I'm locked in. You're locked. 25 million families are locked in. That's keeping supply ridiculously low. And that's put a floor under single family prices. They're not going up, but they're not going down. And they probably won't go down for a number of years, especially now that interest rates slowly over the next year will start to come down.
00:14:18:06 - 00:14:35:07
Unknown
So as they start coming down, affordability will actually improve on the single family side. And I think that the single family market geniuses here's my prediction for the next five years, just stays where it is. It's going to stay where it is. It might go up 1%, but it won't go up as fast as inflation application. 3%. Single family might go up 1%, 2%.
00:14:35:12 - 00:14:53:08
Unknown
Why? Because it was supposed to drop like multifamily. Multi-family dropped 25%. Single family didn't drop because of the lock in effect. And you take 100% for the lock in effect for at this point in time, it sort of it's hit a plateau. It stays near that plateau. It might go up a little bit, might go down a little, but it stays at that plateau.
00:14:53:08 - 00:15:14:24
Unknown
So over five years, the lock in problem is stalled because over five years we'll have maybe 15% inflation. If home prices stay the same. Well, in a way, they're coming down 15%, right, because they're supposed to go up with inflation and they didn't. So if if the price of a single family home in the United States five years from now is the same as it is today, well, then we fixed the issue of them being too expensive because of inflation.
00:15:14:24 - 00:15:34:13
Unknown
They should have gone up 15%. They didn't. Well, we've sort of fixed that issue, kind of fixed it. I'm in. Right. I'm in Southern California and I got here in 2017 and I literally seen the prices go up later because I watch this all time. I'm on Zillow. Like it's like, what's going on? You're going on your 40% all day in San Diego area and like a 40.
00:15:34:13 - 00:15:57:20
Unknown
And it's hitting affordability ceilings, right? Yeah, big question. But they can't go up any further because the average mortgage in the U.S. has gone up 112% in the last three years. So once again, from the start of COVID to when we're recording this, the average mortgage in the United States is up 112%. The average salaries in the U.S. are up 19.7%.
00:15:57:22 - 00:16:16:15
Unknown
How do you reconcile those two things? How do you because the banks won't give you a loan. The banks lenders give you a loan based on your income. So your incomes up 19.7%, but your mortgage is up 112. Wouldn't that put a ceiling on what you can pay? And we're seeing that ceiling across the United States, not just in California.
00:16:16:15 - 00:16:34:17
Unknown
We're seeing it everywhere. Right. And and California is a market known for busting through those ceilings. And it's still just you know, it's like I can't get through. There's nowhere to go. Like literally and even I'm even seeing the opposite effect to even the people that have rented their houses are sort of like reconsidering, like, why would I sell this?
00:16:34:17 - 00:17:06:18
Unknown
I have like a 1% rate, you know, why would I ever sell this? And yeah, there's no inventory. But do you think that some of these high areas like Southern California, Phenix, Austin, some of the areas are just really, really boom, Do you see a correction in these areas in residential? Then how about for multifamily? So the you know, when we look at, you know, and I've been researching this for single family, when we look at the risk in the marketplace, the risk is actually very tightly contained within certain very expensive markets.
00:17:06:18 - 00:17:23:17
Unknown
There's a number of them, three of them in California. And then you're looking at markets that are very expensive for their income, like Austin. Austin might be saved if its incomes shoot up all of a sudden because there's a lot of demand there. You know, you know, the population growth, home price growth, income growth in Austin is much higher than California.
00:17:23:17 - 00:17:43:24
Unknown
So maybe they work their way through that, maybe they muddle through it or they see a decline. But if the decline happens even in California, I do not expect it to be double digit. So in the San Francisco Bay area where I live, this is the most expensive metro in the United States. We are seeing a decline. But the decline, interestingly enough, and I would not have predicted this is happening mostly in the $2 million home.
00:17:43:24 - 00:18:08:20
Unknown
So what what in the Bay Area, million dollar home prices are still selling like hotcakes. I live in Fremont, California, and so I looked at three homes that were sold in the last 30 days. They were all above a million, 1.31.4, 1.6. And they had lots and lots of offers. But the homes that are above that $2 million range in the Bay Area and maybe above $1,000,000 in other metros in the United States, they are the ones that are likely to suffer be simply because people can't afford them.
00:18:08:20 - 00:18:30:23
Unknown
They can get a loan for those. Yeah, it's the same situation here. You buy you could buy the same house or rent the same house for the difference per month. It's probably like $8,000. Know, like I said, it's a shocking number, so it's crazy. I want to share that with you. The difference between the average rent and the average mortgage payment in the United States is the highest in history.
00:18:31:04 - 00:18:53:05
Unknown
There's a lot of people saying, well, the rental market is not going to do well. Right. How do you reconcile this statement? The difference between the average mortgage and the average rent is the highest in history. Three, it crushes 2007. How can this not be a good time to rent? How can this not be a good time to buy a land, be a landlord when that difference is the highest in history?
00:18:53:11 - 00:19:11:02
Unknown
We then in the last three years the United States way. That's a very good way to put it. You might say that one more time, just so people can hear that the difference between the average a mortgage payment, including especially if you include taxes and insurance and the average rent for the same property for the same exact property if you rent it.
00:19:11:04 - 00:19:39:13
Unknown
That gap is the highest in history by far. That gas gap is now over 1200 dollars a month nationwide, probably for a $6,000 in California. Right. So obviously, California is the worst case example of all of these things. And so in New York, yeah, nationwide, 1200 dollars is a huge number. The gap between rents and mortgages has typically been 200, $300.
00:19:39:15 - 00:20:02:06
Unknown
If you look at history, five years, ten years, 20 years, that gap between renting and buying is a couple hundred dollars. Now it's over $1,000. And that's an insane growth. And so that number will adjust over time as rates come down. Some mortgages will come down a little bit because of that, but rents will also go up. So a combination of two things will fix that rents going upwards and mortgages going downwards.
00:20:02:06 - 00:20:22:23
Unknown
I'm not talking about home prices going down, I'm talking about mortgages going down because interest rates will come down over time. Yep. What about investing wise? What would you touch? I see. And then here's a question I have for you, because I didn't know these numbers, so I want to repeat some. You just said the single family home appreciation last 12 months has gone up 2 to 3%.
00:20:22:23 - 00:20:45:17
Unknown
Very modest rate. But at the same time, the multifamily properties have depreciated 20 to 25%. And I remember just a couple of years ago, there's all kinds of gurus buying by this by this syndicate Syndicate syndicate, right. And how many people what's the exposure? How many people even call with their pants down? Because that's a big like if I'm a syndicator and I got into that bubble, how big is that issue?
00:20:45:17 - 00:21:04:23
Unknown
And there must be a huge opportunity to go buy these assets that were born too high. It may not seem that correctly, or there are 3000 assets in the United States that are distressed at an average value of 30 million. The total distressed in multifamily is $90 billion. 3000 multiplied by 30 million is $90 billion of total distress.
00:21:04:23 - 00:21:23:23
Unknown
Now, these properties are not worthless. This is in 2008, so they're probably worth about 65 to $0.70 on the dollar. And what were these purchased like? What do you see in this bubble from these properties that were purchased in the second half of 2020 and the first half of 2021 in the second half of 2021. So basically purchased over an 18 month time frame.
00:21:24:03 - 00:21:53:17
Unknown
Why are they in distress? Because they all have bridge loans right now. There's a huge number. I mean, multifamily is a very large market and there's no distress in the overall market. But in the syndication portion of the multifamily market, at least ten, 20% of all properties are distressed. And folks just see understand what what he's seeing. Just off your filings and alike as well as your listeners when you're in your treadmill or you're working out or whatnot, it's that when that bridge loan hits, they're locked into a low rate and that's going to adjust to whatever it's going to adjust or has already adjusted or is already in.
00:21:53:17 - 00:22:10:15
Unknown
And now that that property that was cash flow is no longer cash flow. It's it's it's a right it's negative cash flowing and it's cost money. Therefore the value is not there. That's what we're talking about and that's driving the prices down 25%. So if you asked me, you know, what do I invest in? Well, I invest in two things.
00:22:10:16 - 00:22:33:06
Unknown
Number one, right now, I'm investing, I'm buying multifamily. Two years ago, I was on every podcast in America telling people, this is insanity. Do not buy, I'm not buying. I'm pencils down. My team hasn't underwritten anything in months. Nobody was listening. I mean, I was being made fun of on podcast like as the the the Dr. Roubini the gloom doom man of multifamily.
00:22:33:06 - 00:22:55:14
Unknown
Well, you know, we saw how that worked out. So right now I don't have ten properties that are upside down. I want write I still bought some properties and so i1i dealt with that and I raised private equity too to make that property get a fixed loan. And so now it's cash flowing. So I fix that problem, but I don't have to deal with ten or 20 like many of my syndicate households have to deal with it.
00:22:55:14 - 00:23:11:04
Unknown
You saw it coming in to do it. Let them go. Yeah. To me, it just made it made sense to stay away from the frenzy that we saw two years ago. Right. So I was very lucky to have stayed away from it. Bottom line is, today I am on the hunt. Today, my investors are saying, Yeah, you saw this coming.
00:23:11:04 - 00:23:31:11
Unknown
Good for you. And you send us all these emails and we didn't listen to you invested with seven different syndicators. Now we have six cashflow. And so we're coming back to you and now you're on the prowl. So right now I'm in predator mode. I'm going out making offers on dozens or hundreds of properties. I'm focused on the ones that have as zoomable low rate loans.
00:23:31:11 - 00:23:53:10
Unknown
For example, we just bought a property that had a 4% fixed rate because, you know, the 25% discount is only there because of one reason interest rate. So if I can get the discount but not have to deal with the interest rate because I'm buying an asset with a fixed loan, how can that be bad? That has to be an incredible deal.
00:23:53:10 - 00:24:14:23
Unknown
So I'm incentivizing my team to find assets that have a zoomable loans with a minimum of three years left on them and that are fixed loans. So I'm not buying $1,000,000 rate cap, so I'm not wasting money on these stupid rate caps. That is number one opportunity. And here's the second opportunity. And this is really for people that want to invest in, you know, maybe maybe don't want to invest with people like me.
00:24:14:23 - 00:24:42:13
Unknown
They want to invest themselves. People like the people who two years, three years ago paid too much for the properties. Those people are now having to recapitalize. Meaning put more equity into the properties to take them from a 10% bridge loan to a 5% fixed loan or five and a half percent fixed line. Right. Well, the best deal today, me as an investor, as a personal investor, is to put money into that.
00:24:42:13 - 00:25:09:17
Unknown
It's called equity. Rev equity is ahead of the common equity. So the property has six, seven, eight, $9 million of common equity. And if you do your underwriting right and this is a good property, so the property is good, it has done well, it's caught it the wrong time. Those properties putting money in at equity and making 15%, 14%, I will do that all frickin day long because that is that is like lending and lending is supposed to be lower risk than than investing in equity.
00:25:09:17 - 00:25:32:03
Unknown
Well, equity is kind of like lending. So right now I have a three person team. I'm actually going to read this from my calendar on the left here, gather equity opportunities. 330 to 4:30 p.m. today my team will come in and present equity opportunity opportunities not for my company, for Neil Bawa, who invested like it. You're smart, dude, man.
00:25:32:08 - 00:25:56:23
Unknown
This guy is smart, sharp and follow him in really good stuff. This is, this is really interesting. So I didn't the thing I'm most shocked about is the multifamily. I'm not in that space. I don't know it very well. I just see what I see on social media in DC. Those numbers are insane. 25% is the largest discount we've seen in multifamily since the eighties.
00:25:57:03 - 00:26:23:05
Unknown
And what's amazing is we're seeing this discount with an economy under 4% unemployment. So it's just the rates. I mean, I expect multifamily to bounce back very strongly. I listen to Blackstone today, so Blackstone's head of CRT, this is a company with a $100 billion asset. Yeah, there. Sit here. What are the words out of his mouth? He said this is a generational opportunity to buy commercial real estate.
00:26:23:07 - 00:26:45:03
Unknown
It's only cheap because of one reason, and that reason goes away in the next two years, he says. We see it as a general up or a generational opportunity. We were not engaged two years ago when everything was expensive. Now we think everything's cheap and so we're buying a lot. He's also doing things like they're also buying out office because office is going to go down 40 or 50%, down about 20 to 30%.
00:26:45:03 - 00:27:03:17
Unknown
Places like New York, it's down more places like San Francisco is down more, though Blackstone saying I will happily buy offices at, you know, 40 to 50% off and I will hold them for a significant amount of time and then do adaptive reuse. Maybe we turn some of it into apartments or condos or things like that. Yeah, but we want to buy at a low basis.
00:27:03:17 - 00:27:30:14
Unknown
So I am very, very excited by the fact that investors are extremely disappointed right now. They're very fearful. The last two years have been bad for them. They've had cash calls. I love it. I love it because they're my competition. I don't want competition. I want to be able to make 50 lowball offers and have somebody accept a 30, 30% under market offer from me, which is what's happening all the time these days.
00:27:30:16 - 00:27:47:05
Unknown
So I love the fact that all of the investors out there are terrified. That's, you know, I read a lot of things. One that stands out, they say that is the quote Buffett said he zigzag, I zag. And they zig and honestly, everyone who's doing the opposite of what everyone else is doing are usually the ones that are always the ones winning.
00:27:47:07 - 00:28:15:10
Unknown
Not at the current time. People probably don't think you're crazy like they did the first time, but obviously you've proven them wrong. Well, what I what I do is I mean, I have a group of about 25,000 people that are following me for data. So what I do is I release data every week or every month that gives them confidence that I'm following data, I'm following systems, I'm looking at the last five years, ten years, 50 years, and I'm understanding market trends.
00:28:15:12 - 00:28:37:13
Unknown
Then when I bring out a project, they are still hesitant, they are shell shocked with what happened in the last 24 months, especially with multifamily. But eventually they realized this guy is taking advantage of it and so enough of them give me money. We just bought a $30 million property with a ZOOMABLE loan. It's down about 25 35% from, you know, peak value.
00:28:37:15 - 00:28:59:19
Unknown
And I'm not saying that it's it's 35% discount. It's probably 15% discount, right. Because some of those values were too high anyway, that those were pretty crazy values there. You know, I'm not saying my property's 35% off of its value. It's probably 15% off of its value. But the beauty of it is there's no downside. It's already a locked in loan for five years.
00:28:59:19 - 00:29:15:07
Unknown
It's already interest only. I don't have a rate captive by. So I'm just getting a discount because the market's back. Right. And I love that. And we we did this raise and we thought this is going to be a really difficult race because it was $9.8 million. We had about 90 days to close and it just flew past.
00:29:15:09 - 00:29:35:19
Unknown
People understand that this is a good time to be a predator. This is, you know, back then I was really big in those seven or eight short sale days in the single family market. And everything that you're saying right now is just feels like it's what's happening in the commercial in that it's happened to commercial like that whole wave because I, I in hindsight I was too young man.
00:29:35:19 - 00:29:53:01
Unknown
I was like 27, you know, making too much money didn't even have the discipline to invest or even think about the future. No kids, you know, I was buying a property every month in 2008 and my family, when they realized what I was doing, they banned me from all of the family parties because they thought I would infect the other men in the family.
00:29:53:06 - 00:30:09:07
Unknown
So for 18 months, I was not allowed to go to a family party. You know, I live in a family with a big Don who's kind of the big, big shot. You know, he helped us come here from India. And so he was he was the guy that everyone kowtow to, including me, you know, because he made my life.
00:30:09:09 - 00:30:27:03
Unknown
And he said, no, you're not showing up here because you're infecting these people with these stupid ideas. And by the time I had 18 of those properties in my pocket, everyone was listening. Man. The only way to do something to get people to pay attention to you folks, and this goes for you to listening is that Prove it and prove it with action.
00:30:27:03 - 00:30:49:23
Unknown
Talk's cheap. Well said, Neal. This is a really excellent show. Why don't you tell our listeners where they can find you guys if you have anything for them? Any other closing thought you want to add? This is very insightful. Yeah, we published single family and multifamily data on an ongoing basis. It's highly entertaining, very interesting. We also published data about things like the nonsense around the dollar's demise.
00:30:49:23 - 00:31:12:06
Unknown
We publish data on how climate change is changing real estate. We publish data on how artificial intelligence is changing markets around the U.S.. This is all very, very entertaining. These are hour long webinars. They're data driven, lots of charts, lots of graphs, but also some fun. And 25,000, you know, slightly nerdy. You know, geeky investors come in and learn from us.
00:31:12:07 - 00:31:32:17
Unknown
Only a thousand invest with us. So the best way is really to join that community. It's free. It's always free. There's no subscription, there's no upsell. There never will be a subscription. They'll never be an upsell. The website is multifamily, followed by the letter Yahoo.com. So that's multifamily. You don't go there, you'll see an amazing tool kit and that'll give you all of the metros in the U.S. that you should be investing in right now.
00:31:32:22 - 00:31:53:06
Unknown
Step by step, we rank 323 metros. Our top ten are in their every February like it. Thank you for your insight today and thank you folks for listening there. So the real estate marketing dude podcast folks if you like we said here today, make sure you subscribe to our show files on our channels and definitely check out our new software referral suite.
00:31:53:06 - 00:32:11:18
Unknown
If you're stuck figuring out how to sign for in your database, let us make it simple for you. Quit losing people, letting people forget your real estate. Let's start farming, your nurturing, your relationships. They start referring you and you start attracting business. I appreciate, guys. We'll see you guys next week. Piece Thank you for watching. Another episode of the Real Estate Marketing Do Podcast.
00:32:11:18 - 00:32:32:13
Unknown
If you need help with video or finding out what your brand is. Visit our website at WW Dot Real Estate Marketing dude dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:32:32:18 - 00:32:35:12
Unknown
Thanks for watching another episode of the podcast. We'll see you next time.
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Get Anything You Want | Mindfulness Training (ft. Aaron Hendon)
9 mrt· Real Estate Marketing Dude
You hear all this talk about how the market is slowing down, and that's true, but only for those who don't know how to shift to the new market. Today we are talking about your mindset, it needs to shift, like the market.
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Transcript:
What's up? Ladies and gentlemen, welcome to our episode of the Real Estate Marketing Dude Podcast, folks, is a lot of people struggling right now, and I want to get right to it. You're struggling for a multitude of reasons. However, what it comes down to is getting what you really want, right? And why do you know? As much as the market has taken a a shift?
00:02:36:17 - 00:02:58:10
Unknown
I'll give you an example. My one of the age used to work for me is way more successful than I ever was. She literally just sold a $7.5 million house in Naperville and set the world record for the most expensive piece of real estate ever sold in neighbor of Illinois. And I'm watching her, like on her business, and she's just crushing it.
00:02:58:10 - 00:03:14:15
Unknown
I'm like, where's the slowdown? Where's the slowdown? Where's the slowdown? But it's not just, Lauren, that I see that with I see that with other agents out there. And I'm always like, okay, guys, I get it. The market has shifted. The markets change, not as many transactions, but the people that are literally running a business and they're actually like literally running a business.
00:03:14:15 - 00:03:32:22
Unknown
I'm not talking to all you salespeople chasing the next paycheck breathing commission, breath setting the world on fire. What I'm talking about are people who are actually looking at their business, running it like a business and don't view themselves as a real estate agent, but more of an entrepreneur. And they're all doing fine. Literally, all of them are doing just fine.
00:03:32:24 - 00:03:56:01
Unknown
And what is the difference between them and you right now if in fact you are struggling? And I think what you're going to get out of this episode is a lot of experience because we brought on Mr. Aaron Hendon and he's been doing this for quite a while. This is he knows he gets it. And the topic of today's show is very simple How can you get what you want despite what the hell is going on today?
00:03:56:03 - 00:04:13:19
Unknown
Why is it that some people are getting there and some aren't? What's changed? Because nothing's changed for them. I believe it's a lot of mindset, but that's what we're going to discover today. So without further ado is going to introduce our guest, Mr. Aaron Hinden. How you doing, buddy? Mike I'm doing great. I so appreciate the opportunity to be here and very excited.
00:04:13:19 - 00:04:32:04
Unknown
It's great. It's great to be here with all your welcome to the show. Aaron actually told me. Yeah, he remembered me from like eight years ago, like this podcast is now in ten years. But I've been pretty, I've been slacking the last 12 months on it. I haven't been as consistent. I haven't been much into it, to be honest with you.
00:04:32:06 - 00:04:55:23
Unknown
I don't have anything. I'm in the middle of launching a new software and all that stuff, and I'm breaking my own rules that I've set and I've set the show with. Right. And I'm very embarrassed about that. So I'll be the first to admit that I'm not doing what I should be doing and I think that comes down to what stops people from getting what they want, because we I think we all know what we want.
00:04:55:23 - 00:05:11:12
Unknown
We know how to get there. But a smaller percentage of people actually get there. What's what gives there and what am I fucking up on right now? What am I doing wrong? Why can I do this? I love it. I love the way you even framed it. Couldn't be a better frame for what? For what happens for us.
00:05:11:12 - 00:05:39:16
Unknown
Because I'm not immune to this, okay? I come to this as I'm a old Jewish man from New York, so I'm guilt and shame and, you know, things are never so bad. They can't get worse was my family motto. So I'm all up in that as a default. And just the way you said what you said is perfect, because, look, there's no arguing that if you don't do the work, you're not going to get the results.
00:05:39:17 - 00:06:07:13
Unknown
So, you know, you're breaking your own rules. Right. And like you said, if you don't make the calls and talk to the people or put out the videos or the work that you know to do that produces the results, if you don't do that, you won't get the results. So we're not, but we're talking about what comes before that or what's this, the ground upon which that work is done or even what's the what?
00:06:07:16 - 00:06:36:04
Unknown
How does the work occur so that you'd do it? You know, when you said what you said about why I'm starting some new software and I've got other things on my plate, you didn't have the things. Just a bunch of excuses. Yeah, well, okay, so hang on before you get to that part. There's it. The work occurs, like, less important than the work around the software.
00:06:36:06 - 00:06:59:16
Unknown
Okay? It's just there is a bigger opportunity with the software and that's what you're going to do. And so it's you're always going to do work that's consistent with you're always going to work on what occurs there. To work on occurs like there is to work on. So if you wanted to do other work, you'd have to shift the way it occurs to you.
00:06:59:16 - 00:07:23:16
Unknown
This podcast would you'd have to deal with this podcast is important, it's foundational, it builds the base upon which you could build that software and it would very little time. You could get to the value of doing this, but you'd have to do that work. First of all, does that make sense that you're always working on? You walk on the floor because the floor looks like something you could walk on.
00:07:23:16 - 00:07:47:05
Unknown
I don't know if you've ever seen those. I had this little picture on my desktop of a floor of a carpet in Germany at a hotel in Germany, and it's one of these. And okay, I could share my screen, but I'll send it to you so people could see it on the website or the show notes. It looks like the carpet is got holes in it.
00:07:47:07 - 00:08:14:19
Unknown
You know, the way the lines in the carpet are drawn, it creates an optical illusion that the carpet is bumpy holes and dives and like that. And it really looks that way. You will see you look at it, you're like, wow, that's the way that looks like you would never run on that carpet. And that's why they installed it, because the people were running in that hallway and they installed it and people stopped running in that hallway because it doesn't occur.
00:08:14:19 - 00:08:44:03
Unknown
It occurs unsafe to run on. It's not it's the exact same scenario. It's literally the same floor. But it occurs differently. So for you with the podcast, there's it didn't occur as important. It occurred as something I could move off my plate. Same thing there. Does it make sense? Yeah. Fair. I mean, I'm like and then I'm like, but I got soccer practice like today.
00:08:44:03 - 00:09:15:13
Unknown
I got football practice. I got to go cause I have tick tock that I'm from my bed so I'm not getting out of bed. Go, You know, I can't work out anymore. Even that it occurs like this, it this is it's not that it necessarily occurs is important. It occurs is an opportunity and lying in bed scrolling tick tock which is, you know, three rungs down from getting my kids to soccer practice in the world with excuses like value.
00:09:15:15 - 00:09:40:06
Unknown
It's still I don't know anyone who doesn't do, you know, without an immense amount of discipline doesn't succumb to an extra video or to those, those devices are built really well to capture your attention, you know. yeah, they're right. And very well like, like designed by the smartest people in the world. Brain science is like literally hijacking your brain.
00:09:40:07 - 00:10:08:12
Unknown
Yeah. Into just one more video, and then an hour later, you're like, I can't work out now because. Right. And your stuck time we can. Yeah, we can talk about that. You said something a word. Discipline. Yeah. And discipline is tough because discipline takes time. Are the results of discipline take time, I guess, Right? It sounds like you want to work out like, Hey, I want to go about.
00:10:08:12 - 00:10:26:13
Unknown
Look, we're talking about how you cannot get to what you want to. Let's just take an example. I would relate to you want to lose £10? Who doesn't wanna lose £10? Right? Everybody. But why wouldn't I go out there and do it? Because it's going to take me three months. Yeah. And then I got to start somewhere and I'm starting that one thing is like, Damn.
00:10:26:15 - 00:10:54:12
Unknown
Yeah. Well, you know, Simon Sinek talks about and a lot of people talk about this, but, you know, when the why is big enough, the how becomes obvious that you're access to losing weight. Is having a Y big enough to do it? Is is there is there some future that you've created that's important enough for you, what that would call you to do?
00:10:54:12 - 00:11:19:17
Unknown
The things that would have the things that you don't want to do occur is opportunity is if you can get your focus on to the future you're creating. And rather than whatever this immediate muscle should rally. Yeah, ice cream, you know, like, okay, I want the ice cream. And it's not about not wanting the ice cream. I don't know that there's anything in the world is going to get I'm on a mission.
00:11:19:18 - 00:12:02:06
Unknown
You funny you mentioned losing weight, right? I started at to 20:06 a.m. at 206 now. And I have a mission to get under 200 because my wife promised me some really great starts. At first I get under 200 and I was like, okay, right. And she's not thrilled how close I'm getting it. She promised a whole bunch of stuff, but it's a future that inspired me, that moves me, that if I keep that future alive, I'm like, okay, I will eat one meal a day and I will up my protein and I'll find a substitute for ice cream, buy her up and you know, it's funny that you mentioned discipline and frustration and all that
00:12:02:06 - 00:12:43:18
Unknown
stuff because I've been stuck like you at this. outside range, really close. But I've been stuck. I'm like, And I am so close to fuck it. I'm not doing it. Yeah, it's not worth it. This is too much. I'm going to give up. And why I'm so interested in mindfulness. We haven't brought up mindfulness yet, but by I've become so sort of fascinated with mindfulness is the ability to train the mind to choose what it focuses on.
00:12:43:20 - 00:13:11:23
Unknown
Because I could focus on that medicine, but it doesn't take me in the effort to focus on the focus and the muscle. It's automatic. The focus of the tick tock video is automatic. Focus on anything is automatic. You know, whatever pops up is automatic. It's Can I acknowledge the presence of that? I want that muscle. And what else is going on?
00:13:12:00 - 00:13:40:22
Unknown
I could focus on the future that I want. because just because the want popped up first doesn't mean it's real. It doesn't mean there's any more real than the future that I'm creating. And that separation right there, that moment of choice where you can separate the immediate bond from the future. Your creed. If you can get that gap to be a little bit bigger, just a little bit longer, you have some access to power, too.
00:13:40:24 - 00:14:12:22
Unknown
It makes it takes a domain of discipline and puts it in the domain of choice. And it's radical. I want to go back to something else you said, Mike, because it really struck me, and this is a really good opportunity to distinguish choice and occurring and that whole world of empowerment that that we started with because you were like, that's about how you said it exactly.
00:14:12:24 - 00:14:35:02
Unknown
But you were like, I break my own rules. I'm not doing what I know to do. And you didn't you didn't call yourself an asshole, but you were being that this was the wrong way to be. I mean, I don't know if you talk to yourself about that obvious. I'm hard on myself. I have to be. Yes.
00:14:35:04 - 00:15:18:03
Unknown
Yes. Hard on ourselves. And I have gotten myself pretty convinced in my own experience. And this is from personal discovery, not I'm not asking you to believe me. I'm just asking you to try it on and see. But that first moment, if you could get okay, I'm now making myself the asshole. Am I more effective when I relate to myself as an asshole, or am I less effective and more effective when I relate to myself as an asshole or I am more effective when I relate to myself as an entrepreneur.
00:15:18:05 - 00:15:48:06
Unknown
Is been podcasting for ten years? Who's got a following of 40,000 people or whatever you got? I don't know how to limit that. You may have bigger than that. That started multiple software companies. Am I more effective when I'm relating to myself as that person or as an asshole? Interesting. And then you just get into, okay, now could I relate to myself as an asshole?
00:15:48:06 - 00:16:15:15
Unknown
I could. Could I relate to myself as a world class entrepreneur? I could. Now which one of mine choose? And the more we for me, I don't know. I think it's sort of a dumb question know, it's sort of like when I say it that way. Which one? Like which one is it? I don't know. It's a good question.
00:16:15:17 - 00:16:34:13
Unknown
I'm more humbled to look at myself through the lens of an asshole, but who I am at the end of it, that's what humbles me in being like, shit, I have to look back. So you got to step outside your own shoes. Yeah. And, and like, see yourself like, I don't know, The analogy that comes to mind is like, when someone passes and they see themselves, like, slain in the hospital bed and they're like a ghost of themselves, right?
00:16:34:15 - 00:16:54:19
Unknown
It's like, see yourself in that in that position. For me, I have to do that. A lot of step outside and what's the word? Vulnerability, Not vulnerability. It's humility. Look, realize what what it is you do wrong. And you're right like you have to like because right now a lot of agents are like, Fuck what I do. This was working last year, but now it's not working right now.
00:16:54:21 - 00:17:16:18
Unknown
well, the first thing that comes to mind is like failure. I feel like a failure. Yeah. And then that when that happens, it's very hard to that overcome because no matter what, if you if you approach it from that way, it's very hard to, like, overcome anything. You know, there was a time my life like I would say three, this is like seven years ago, for three years in a row, I felt like a complete failure.
00:17:16:20 - 00:17:35:21
Unknown
Yeah. And it was rough to go out and get it, but I kept on going and like what you said earlier, the back your backs against a wall. You just figure it out like a squirrel learns how to hunt no matter what. And when winter comes and it just. It just happens. It's just who whom you are. Survival of the fittest, right?
00:17:35:22 - 00:18:02:19
Unknown
But a squirrel doesn't talk to itself about being a failure there. And they just being a human being. Only human beings fail. Squirrels don't fail. Squirrels may be hungry, but they don't need a support group. If they don't have enough nuts, they go do what they needs to do. And it's the conversation that I'm a failure that then who's going to do the work is someone who's a failure versus I'm a world class entrepreneur.
00:18:02:20 - 00:18:22:17
Unknown
I'm going to get it. Why? I'm not going to get it because I'm afraid that I'm look like an asshole. I'm not going to get it because I'm I'm I'm good at this and I've done this before. You know, it just we just got a book. We have a book club and my team and we just got done reading ten X is easier than two X And have you ever heard of that?
00:18:22:19 - 00:18:49:06
Unknown
First time I heard of it, I never you know, and one of the takeaways in that was if you're always looking at the horizon to measure your success, measure your growth, you're going to have the experience in the present moment of being a failure because the horizon always gets further away. Very well point, right? You got to look at how much I've grown and I think if you look behind you, yeah, you could get.
00:18:49:06 - 00:19:10:23
Unknown
That's right. It really doesn't work for you to have not done the podcast with the integrity with which you talk to people about it. It's not, doesn't work. It doesn't have workability to it, but it doesn't mean you're an asshole and it doesn't mean you're a failure. It means you chose a couple of things that you didn't choose, you know, that you could have chose differently.
00:19:10:23 - 00:19:40:20
Unknown
And it'll give you a different relationship moving forward because what will be in the present is the experience that you're looking for out of the success. I mean, we've all seen this. I used to be with Kate, Bob and I've done the forum and done other programs. And this isn't the, you know, this beard you have right from I mean, if you did bold anyone who's ever done bold saw this.
00:19:40:20 - 00:20:03:13
Unknown
If you've done the form, you've done seen this. And it's if you want to be a success, you start with over here with who you're being, and then you do the things successful people do and you wind up having the thing successful people have. You don't start with the Lamborghini and then you, you know, you do that real estate, though, you know?
00:20:03:14 - 00:20:41:08
Unknown
Yeah, well, I wish I have a podcast. My friend Chris, but I try and manage my own contempt. I have a lot of contempt and I find it not useful, but automatic nonetheless. And I have a lot of contempt for Lamborghini, meaning a lot of like, Hey, look at me, here's my let's go away. But at the same time, you know, you starting your day from being a successful entrepreneur, software builder, creator, content creator guy who's literally helped tens of thousands of agents.
00:20:41:08 - 00:21:09:01
Unknown
Mike, you have helped. You've helped me, you've helped tens of thousands of agents get us to get off this night and start doing great work. That's you. And you start your day from there as a great husband. Dad. Yes. Now, how do you. Yeah. BOTH How do you train your mind? Because what we're talking about here, guys, is just I guess my personal experience is very similar.
00:21:09:01 - 00:21:25:18
Unknown
What most of you are going through right now as well. And even in this in this episode, and I want to I want to unpack a couple of things he said, because like, I see how we're taking this experience, even just of this podcast, right. And relaying it to like what an agent saying, isn't it? Because you're early on, early on, like no one was listening to the show.
00:21:25:18 - 00:21:41:00
Unknown
I wouldn't miss a week. And I did that for seven years straight now because I saw I'm going to build and actually I saw that software company built and I said by the time the software come, you have to have an audience of people. So sales aren't too difficult. So that was the vision that I had back then, you know, ten years ago.
00:21:41:04 - 00:21:58:00
Unknown
But then now that it's here and I have the audience and I have the 1.7 million downloads that at 1.8 or nine or two, but where the fuck it is right now, who cares? But now I'm lazy because I became complacent in the podcast on what I should be doing is having the same fuel of fire that I had in year one.
00:21:58:02 - 00:22:16:12
Unknown
Because the reality is, is that if I do put some more umph behind the show, if I, if I wanted to, I could accelerate results. So does that apply to you guys in this day and age right now, like with what is going on in the market, like there's no transactions are down. Okay, So now what are we.
00:22:16:12 - 00:22:37:12
Unknown
Yeah, right. They're down. Great. There are 40% less deals getting done than there were last year. And that's not unwinding anytime soon. And how many less agents are now in the business because of that, though? It's it's going to wind up being 40% less agents because that's because not everyone's going to do the work to get to capture the business.
00:22:37:12 - 00:23:07:16
Unknown
It's there. And what we keep telling our team is you just got to find a way to stick around long enough because the market will turn and, you know, you got you want to be able to be the go to guy. But go back to your question, Mike, which is, you know, one of a I just saw why you're doing it your you for sale the future you were out it's on sale no doubt right.
00:23:07:16 - 00:23:23:19
Unknown
You got the you did you work you put your head down seven years. You built the audience. Then you built a software that worked that was like exactly how you I mean, it may not have been exactly the way you planned it, but it did still, the future you were out. You never the way you plan it. Right.
00:23:23:19 - 00:23:46:16
Unknown
But you did fulfill that future. Yeah. And I guess in hindsight, you're right. And have you taken the time to create for yourselves a new horizon and a new future? Have you said, okay, I'm taking this 1.7 and I'm doing this and I'm doing that, and the next ten years, here's what's going to be there. Have you created some sort of.
00:23:46:16 - 00:24:08:14
Unknown
Not to that I would say extent, maybe I haven't. I think that's part of my problems, like a therapy session. There is a stat empowering people to get what they want and if they don't have a future to live into that inspires them the best they can do is get motivated and disciplined, which is not going to last.
00:24:08:16 - 00:24:33:11
Unknown
There's a stat I just I'm trying to full x. I was going to do a video on it anyways. It said something along the lines of so you just had 40% less transactions this year. And then this one said something like only 49%. So 40% less transactions. Right. And then how many agents do you think we're going to 40% less agency think that's the final number, 30, 20, whatever the number is, it's going to be 60.
00:24:33:13 - 00:24:52:03
Unknown
It's going to be less. So. But then it also said only 49% of age are 49%. Agents only sell one or two houses in the last half months. Well, I was like, dude, if that's not even new, that's the way it's always been. And if you add up, the number of transactions are still a boatload of business out there.
00:24:52:05 - 00:25:18:00
Unknown
Italy, there's more than enough business. I am always so amazed at how much business there really is, you know, And I'm but but even if 40% less, you know, I see I see agents getting I can't find it. So I you know, there's I can't believe there's enough business to keep anything in business, frankly. You know, there's 11 billion whatever Facebook.
00:25:18:01 - 00:25:40:09
Unknown
Where are these people? Where are all the people? But they're out there. There's enough this is there's there is an abundance of business to be had. And you could focus on those. They're harder to get or you could focus on, okay, where am I coming from? What value am I going to add to the marketplace? What am I going to do?
00:25:40:09 - 00:26:08:08
Unknown
And and what's the future that I'm out to fulfill that will have the actions in the present occur like an opportunity versus if you don't create a future, if you look, 95% of our thoughts are negative thoughts. That's just the way the brain is work. Every social science, every psychological thing, you have 60,000 thoughts a day, 95% of them are there's something wrong.
00:26:08:10 - 00:26:36:11
Unknown
And I don't know what percentage of those there's something wrong winds up being. There's something wrong with me. But I would think more than half sure there's something wrong with me. So you're if you're not intentional about creating your mindset, you're going to wind up living a life where you're constantly overcoming there's something wrong with you. And that's not necessary.
00:26:36:12 - 00:26:56:19
Unknown
It might be automatic, but you know what? You you, your dad, you know, you trained your kid and you used to wet the bed. Yep. Right. And you train. And that's the most natural thing in the world for a human being to do. I mean, you know, you train your baby and baby and you take them somewhere on a road trip and they would just pay you.
00:26:56:19 - 00:27:14:24
Unknown
They come out of that, you put on a new diaper and they would just be you'd be changing the diaper and they'd be peeing on you. It just wasn't a thing until you train them to not do what comes automatically. And now, Mike, I don't care how cold it is, how tired you are, within reason, how drunk you are.
00:27:15:01 - 00:27:49:16
Unknown
You're not wetting the bed because you trained yourself to not do what comes automatic. You can do that with your brain. You can train and you call this mindfulness training. Yeah, mindfulness. The ability to be present to what's happening in the current reality without judgment, just noticing it. And if you do that for enough time practice and I don't mean I don't you don't have to go sit like a monk for hours at a time.
00:27:49:18 - 00:28:15:14
Unknown
I mean, practicing 10 minutes of mindfulness a day. Consistency is more important than the quantity, but the consistency every day, Yeah, you will begin to increase that space of choice and you'll see it in places where it didn't show up before. You know, like when my wife just walked in and could before we started the list was done.
00:28:15:17 - 00:28:35:08
Unknown
But my wife's I had to help her get on a Zoom call. My reaction I promised you my action a year ago would have been, What the fuck do you want? A monologue guest on? Yeah, about to get on the show. Yeah. Are you can't figure out you right? Some real shitty response which doesn't give me the life I want.
00:28:35:13 - 00:29:04:00
Unknown
It's not consistent with who I think I am as a husband. It's inconsistent with everything I pretend I like to pretend I am. And because I can and I can separate myself from the sphere, you want to separate yourself and commission breath right When you want to get in front of a client and no longer be talking to them about afraid I need this commission versus how am I going to help this person achieve what they're out to achieve.
00:29:04:02 - 00:29:23:24
Unknown
Yeah, versus already seeing the check in your your versus their end result or, or or or or fearing the check isn't going to be there. Right. You know all that I have found and my team has found it is available through practicing mindfulness on a regular consistent. So walk me through something like how do I get into that state of mind?
00:29:23:24 - 00:29:43:24
Unknown
And I did. I agree with all of this. In hindsight, I'm sort of seen myself doing some of these things, like mentally, yeah, but like, how does someone right now, like there's agents out there like you guys need to do? Let me just tell you guys straight up and toughen up. I mean, this is just what it is.
00:29:44:01 - 00:30:04:17
Unknown
It's time, you know, You got to toughen up. This is this isn't going to be easy, right? Right. Well, what do I do? How do I get in this habit, though? It's like it's hard getting started, but it's not hard staying there because you got to. But because it's it goes back to, like, that whole working out thing or like when I said I start this podcast, but that's a long road that nobody wants to travel, a yellow brick road.
00:30:04:17 - 00:30:29:04
Unknown
Everyone wants to already be at the end of it. And you know what I mean? Like, so like, what is the how do I get started in something like this? Because you're right. Everything I think everything is mindset set. It's it's why so many people have accomplished but people the 95% negative thoughts it's pretty obvious and how whatever you see in social media, whether it's spiritual warfare, negativity, whatever the hell you want to call it nowadays, it it's it's real, man.
00:30:29:04 - 00:30:48:01
Unknown
And yeah, it hurts people and I see it out there. But how do I overcome that? What am I doing daily to, like, get that shit out of my head and be like, Fuck this, I can do this. I can do this because it is mindset. I don't do it well, okay, so first of all, you know, that's Lao Tzu.
00:30:48:03 - 00:31:13:06
Unknown
The journey of a thousand Miles starts with a single step. So it's it's a step. It's the next step. You don't worry about getting there. You just get the next step. Same, same thing with the podcast. And you were built. You were brick by breaking it because without your attending you could again, you could have your attention how hard this is you can have your attention on, okay, today I'm going to do 10 minutes of mindfulness.
00:31:13:08 - 00:31:42:04
Unknown
There's a million mindfulness. There's an app called the Insight Timer. They have I have an app and you can get the real sausage edge, and I have mindfulness meditation on that every day on Zoom. Sorry, on Facebook, I actually lead a ten minute gratitude meditation on a Facebook Live. So you can do that. But there's my point is there are a million, ten minute mindfulness guided meditations you can get on any platform YouTube, TikTok, whatever, right?
00:31:42:06 - 00:32:13:15
Unknown
And you make a commitment to do 10 minutes, just 10 minutes of a guided meditation, of a guided mindfulness meditation. It's not a huge commitment in time. It's immensely this morning, late afternoon is every quarter different. Whenever whenever you can get 10 minutes, I find that I find if I wait, I don't get the 10 minutes. But I also do find from time to time that doing 10 minutes around two or three in the afternoon gives me a little boost because I'm a little tired.
00:32:13:17 - 00:32:37:08
Unknown
There's a lot of practice. So that's just the most basic practice. Actually, I have a cheat sheet of 13 different ways you can practice mindfulness. It's anyone that can grab it on my website. But that 10 minutes is really sort of a foundational piece. If you what your it's important to keep in mind what you're training yourselves to do here is just be present.
00:32:37:08 - 00:33:01:19
Unknown
And one of the things that comes up for people most frequently in the beginning is, am I doing this right? Because I have all these other thoughts. People think, first of all, mindfulness is not just meditation. You can do that 10 minutes of meditation. But mindfulness is also try putting your phone down when you eat next time you want to do the advanced level, right, the down and dirty level.
00:33:01:19 - 00:33:25:03
Unknown
Mike, don't take your phone into the bathroom with you next and you take a dump and just sit. I mean, but just wait. You're just practicing, experiencing your experience and and that is it. And that is like, insane to talk about because it's like, well, that's anyway, so I'll do that like 20 years ago. Exactly like you do, right?
00:33:25:05 - 00:34:00:07
Unknown
There's a guy you take that or whatever Instagram that does that bit about how you know before you steps TVs in the cars. When we were sitting in the backseat just watching the traffic go by. Yeah. It's also different than being lost in thought. It's also not just being lost in thought. It's about actually noticing the current reality so that the temperature of the air on your skin and the way your chest feels as you breathe and you begin to separate yourself from your mind, you get that you're not your mind.
00:34:00:07 - 00:34:26:22
Unknown
You're the person you are, the observer of your mind. And the moment you get that and you can separate yourself from your thoughts, you then begin to have something, because then you could have the thought, because then you begin to have thoughts like, okay, one more real who's saying one more real? Is that the person that's building this business or is that the person?
00:34:26:24 - 00:34:55:00
Unknown
Is that just my automatic am I peed on myself now I'm at you. But you got to get that first separation between you and your thoughts and not having not doing anything when you eat is one way, one way, not doing anything. When you not doing anything, when you jog or when you walk, or just taking 10 minutes to notice your breath again at you.
00:34:55:02 - 00:35:21:15
Unknown
Google mindful meditations, guided meditations, and there'll be a million of them. And that begins. That's so how that's how you that's what there is to start. How you start is the way you start. Anything like you start is this is like this sort of apply to alcoholism. People are alcoholics who are drug addicts when it I don't know.
00:35:21:19 - 00:35:52:06
Unknown
I am not like in that field and I just don't know enough about it to talk about it. Yeah, I wouldn't compare it to substance abuse just because I am not sure. But I mean, like if you're going to overcome something like you got to go back to the basics and this is like, yeah, if you're going to look at the, the scrolling of the tick tock as a, as an addiction, like it kicks off a chemical and they've designed to kick off chemicals in your brain that keep you down.
00:35:52:08 - 00:36:33:08
Unknown
So that is an addictive property. And it does take but it takes an acknowledgment of it like, look, yeah, this is me. I see your behavior. I am I. And unlike a substance abuse phenomena, there's no outward chemical to that. You could go take uses just literally you breaking that habit of doing that and I find that having a future that I'm out to fulfill that is important to me is a big enough is what's required.
00:36:33:08 - 00:36:56:18
Unknown
And because otherwise discipline just is like yeah you have to have the lie like it's your family, it's your, you know, the little kids you see, you know, it's your what exactly? It's why it's what you do. And if you can focus your attention on that, then you will. Do you need motivation or inspiration? It may not even be fun working out.
00:36:56:18 - 00:37:19:02
Unknown
I ever wanted to go to the gym before I went to the sub. I ever wanted to go to the gym before I went to the gym, even though I had this great future about it, I'm like, I still want to go. We go for the unresolved. You said, Yeah, that one. The two times I take my shirt off a year at the beach, it is worth like 2 to 3 months of just sweat and just misery.
00:37:19:02 - 00:37:38:16
Unknown
Right? Just because you got to have that one thought. And then the funny part is that when you do want to go, it gets rained out. One of those two days I, I hear there's this a requirement for your guys is like teams now when you guys bring on ages of everyone in their team and I'm curious to know what the production level of your average agent cause this feels like this part of your guys's culture.
00:37:38:18 - 00:38:08:07
Unknown
Yeah, we we don't actually. It's interesting because it's part of the culture in general and we've started I ran a 90 day training program where we started with the meditation and creating a future and doing all that work and people basically did two X more deals than they were doing out of doing that. And that was the data.
00:38:08:07 - 00:38:34:11
Unknown
I'd be super rich and how long have you been tossing that? And really just the last running of it was the first time where we really I had a I'm really interested in running it one more time because we got to something new about it that I think would just crack the code on the whole thing. So yeah, we should have you back in getting into trial of a new 90 day one, which includes the meditation.
00:38:34:11 - 00:38:52:01
Unknown
I don't have enough data on it to really talk about. Yeah, this is for sure impactful, but I do think we've cracked the code out of the last one and the next one rerun. If people are interested, they should definitely hit me up on my website and I will get them in for free and will run test on them.
00:38:52:03 - 00:39:20:22
Unknown
But it can't hurt. It's certainly not. Yeah, I like it. Yeah. Why don't you tell them where that website is again. It's Aaron account. It's and you can, you know, there's a little lead magnet form on there where you can get the cheat sheet for mindful practices and that'll put you on my mailing list and I will spam you to death so that you hate me and unsubscribe because I have to make the say I'm no, I will.
00:39:20:24 - 00:39:43:23
Unknown
Every other week we send out valuable sort of here here's an opportunity here or something in the works like that. And when we run the next realtors you'll be informed. And I really I'm trying to sell that cohort now, get ten or 15 people that want to test it with me. I like it. Well, I appreciate you coming on today, folks.
00:39:43:23 - 00:40:05:06
Unknown
Get the mind right. This is helpful for me, but they everything you see, I experienced so I know what you're doing is working. So why don't you tell everyone like us one more time where they can find you and we'll get this wrap? Right. Well, I. You can find me on Dash on Island, which is a small island off the coast of Seattle.
00:40:05:06 - 00:40:26:18
Unknown
But then the managing broker we expect team and you can hit me up on Aaron and Incom or you can just Google Aaron hand any copy and you can find other websites and lots of different things. I have awesome. And if you wanted to see my, if you wanted to sit with me in the mornings, you could get on Facebook and find me on an Aaron and that I'm easily find out findable.
00:40:26:20 - 00:40:41:21
Unknown
Sweet appreciate Aaron appreciate you guys listen another so the real estate marketing dude podcast I want you guys visit our new site it just to get ready to launch a software it's called referral suite if database is forgetting about who the hell you are, where are you going to start reminding them. So they stop forgetting and start sending you more referrals.
00:40:41:21 - 00:40:58:21
Unknown
Go out and visited at referral suite dot com. It's a big blue popsicle you won't find you won't miss it, and we'll see if we can help you and join our next challenge coming up and stop chasing strangers, start nurturing relationships and watch what happens to your business. Appreciate your Aaron and you guys next week. All right. Thank you.
00:40:58:23 - 00:41:22:22
Unknown
Thank you for watching. Another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real estate marketing dude dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:41:23:01 - 00:41:25:20
Unknown
Thanks for watching. Another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
16 Year Veteran Finally Starts Creating Videos
17 feb· Real Estate Marketing Dude
If you are slacking on creating video, let this be a lesson. No one really loves to be in front of the camera, even if they seem like it, they probably don't. We don't do it because we love it, we do it because it's essential to growing our brand. Jordan Silvester found that out, and listen to see how it helped his business explode.
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Transcript:
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast. Folks, we're gonna be chatting about today is something I think everyone's going to get a little bit of a kick out of. Look, none of us want to get on social media. We do it because being on social media creates money. It creates clients, it creates a tension, it builds your brand.
00:04:47:12 - 00:05:04:04
Unknown
But if we really had an option, me included in this, I'd go hide behind. I'd sit on my couch all day and watch television or play video games or something. Know, I wouldn't be out there creating content, doing all the stuff on social media because I'm do it because I know I have to. Reality is, if you're not doing it, somebody else is.
00:05:04:04 - 00:05:31:22
Unknown
And building your brand on social, whether it's Facebook, TikTok, YouTube, Instagram, I mean, honestly, it's all of them. If you're not doing it, somebody else is. And that's why you need to be there. 100% of your future clients will be online and over 80% of them will use the first person they come into contact with, many of which happens to be the first person they're either introduced to or they personally meet or they run into at a bar or restaurant or through a family or friend.
00:05:31:22 - 00:05:52:07
Unknown
That's just basically how it is in other words, this damn business is nothing more than a giant popularity contest. So I get a message and we got a we got a Canadian coming up on the house today and he's not too deep in the count. He's just over the just over the border. But not that that matters. But he's a you know, he just that's a story.
00:05:52:07 - 00:06:08:02
Unknown
Would I just what I just laid up. I hate social media. I don't want to do it. But once I started doing it, I started getting a lot of buzz. People started commenting and all sudden I feel like I'm getting all these conversations I never would have had unless I'd started doing it to begin with. So we're going to hear a story and see why he does it.
00:06:08:02 - 00:06:23:06
Unknown
And I'm hopefully it's going to kick you in the ass and why you need to do it too. And if you even are doing it, you need to get a little bit more consistent. Let's we all do. So without further ado, let's go ahead and introduce our guest from the other side of the pond, not pond water. Mr. Jordan Sylvester, What's up, dude?
00:06:23:08 - 00:06:45:02
Unknown
Hey, man. Thanks so much for having me today, Mike. It's great to get a chance to just chat about the excitement of real estate and trying to figure out where that next deal comes from. You know, the the the infamous pipeline conversation, Where where's the where's the next one going to come from and what are we going? Yeah, feast or famine, peaks or valleys, month the month, week to week client by clients, you name it.
00:06:45:02 - 00:07:05:12
Unknown
Right. So tell me a little bit about yourself. I saw everyone who you are. Before we get started here and I got a bunch of different questions and one here, your story on how why you actually like social media nuggets. You don't like it, do you know? I'm not a huge fan of social media. And if you actually were to go to my Facebook page and look at posts previous to basically this August, you'd see five over the last two years.
00:07:05:16 - 00:07:25:04
Unknown
And two of them are, Hey, you want to come hang out at my birthday on the patio crammed into one of our local watering holes. So but I understood that in the market shift in the where we're going and where people are, you know, I love to I'm actually the person who you'd meet at the bar and want to chat with and hang out, and I'll just talk to any random stranger, but any random thing, just because I think it's fun.
00:07:25:10 - 00:07:39:23
Unknown
That's one of my, my, my natural skills, but one that is not natural is go live on Facebook. Go live here record stuff and have it actually posted out there so people can watch you. It's like, No, no, thanks, man. I'm good. I've been trying to do it with a coach. He tried to get me to do it for like three or four years.
00:07:39:23 - 00:07:57:12
Unknown
And the trick was hire somebody to do it for you. That was how I managed to jump. That was one of my buddies does a lot of batch creation, so I literally record for, you know, one day a week and then he gets anywhere from 20 to 30 videos a lot of the time out of that. And then we post what we need to in some of it's relevant, some of it's not.
00:07:57:14 - 00:08:16:08
Unknown
But he also posts everything, so I'm just as surprised daily by the media content that I'm putting out as most of the people watching are. What you're not even posting, you're not even actually physically doing the post. You have someone doing it for you. You said, Shoot, go. Yep, show up and shoot. So. So for me, that was like it removed a lot of my what's the right word Like, like concern.
00:08:16:08 - 00:08:31:22
Unknown
I guess the right word is, is like if I had to edit a review things and then try to hit. Yeah, okay, go ahead. The chance of me doing that goes to almost zero just because I'm critical and critical of everything I say. Did I say it right? You know, Did I inflect like all of those things? And my buddy edits it all, throws it out and I just get to see it.
00:08:31:22 - 00:08:59:19
Unknown
And sometimes, like we've had some conversations and adjustments about certain things that might get out that I'm like, Hey, dude, he's a guy, but this is creating content. People are responding to it like it is what it is. They imperfection is part of the game. People expect authenticity. And if you go and look at all of my stuff, that's the other thing I did was I rebranded to truly myself, which is you'll see me with my covered hats, you'll see me in my t shirts, and if you catch me in your pink shirt like part of your brand here, it's not necessarily the t shirt thing like duh.
00:08:59:21 - 00:09:17:17
Unknown
So I wear t shirts. So I have a bunch of these very similar t shirts. You'll see me in the blue, you'll see blues and greens and stuff. And then I've got the hats that sort of match. So I have about seven or eight of these hats. Again, I just I liked I'm a golfer, right? So for me, these hats came out of golf and then I really like I always wear a t shirt anyway, so then it just sort of paired itself together.
00:09:17:17 - 00:09:39:07
Unknown
When I was thinking about who am I? And one of the big things I'm going to go online, I'm going to be me and I'm going to eat. And I know that people have to somewhat, you know, play me online. There's an extent where not all the content is me, not all of this stuff being posted is me specifically, but that person is understand who I am, how I operate, and what I would want that to look like so that when stuff is being done, it can look like me or it can actually be me.
00:09:39:07 - 00:10:00:02
Unknown
And that was one of the bigger things. Now that I'm on Instagram, which I just literally logged in on my phone for the first time ever, literally this weekend. But it's been out for years because I've had the office running it and doing things with it. But Tik Tok and Facebook, I've used more as a watcher and stuff and then again starting to comment and engage and again, a lady saw me on Tik Tok said, You're a realtor that I could get.
00:10:00:02 - 00:10:15:11
Unknown
You know, you didn't seem like you wanted to sell me anything. You wanted to give me information. So she reached out, called me and said, Hey, let's set a meeting. And that's in four months. So again, man, I did. This is at least a minimum of a year play of just like constant, constant, constant to see when and where it was going to go.
00:10:15:11 - 00:10:34:03
Unknown
Because if you just jump into anything for a minute, like if you it's like it's like they always say, you got to sow the seed, then you got to water the thing and then you got to reap. Right? And the reaping though, like in anything, whether that's if you're no matter what you're doing in real estate no matter what Lee generation system, if you if you think you're going to pick up the phone and dial 20 people in, you're going to get a deal.
00:10:34:03 - 00:10:55:10
Unknown
The odds of that happening are low. But if you dial 200, the odds go way up. You know, 2000. I can guarantee you a certain amount. If you do 20,000, like again, it's that constant repetitive consistency and two things are true. If you do 20,000 phone calls, you're going to be pretty good at phone calls when you're done, when you only do you know, ten, ten or 15 calls and say, I'm not any good at this.
00:10:55:10 - 00:11:10:17
Unknown
Yeah, you're right. You're absolutely right. You probably aren't very good at it. And why? Because you just don't have the experience. And so it's social media. I've, I shoot a lot of content and a lot less time now than when I first started. And we we do a lot of different things where we're expanding all of the social media stuff.
00:11:10:17 - 00:11:29:09
Unknown
And like I said, I'm across LinkedIn, Facebook, Instagram and Tik Tok right now. And then we have YouTube and YouTube's running more of our long stuff. So the things he's cutting up, then there's the long formats and we're doing some stuff there. And again, to be absolutely honest, I'm not 100% sure all the inner workings of this. That's why for me it was a person for you.
00:11:29:09 - 00:11:44:09
Unknown
If you if you don't have the money or the ability to invest, you can do a lot of this stuff for free. Or take some of these seminars like my buddy who does this for me actually teaches batch creation. And if you were wanting to save the money and not pay him, he would show you the tools he's using, the stuff he's doing to help you.
00:11:44:09 - 00:12:01:09
Unknown
You grow, right? So that's a cool piece. That's something that, of course, in my world, I needed to have somebody external to me do it, including posting my socials. Right? Which makes it like being on time every day. Like we post daily videos where if, if there isn't a video out that day, then there's a piece of content we're ramping up.
00:12:01:09 - 00:12:14:05
Unknown
Like Gary Vee said, just you got to get in front of everybody. They're they're going to love ya or hate you, but you better just be in front of them. And so that's been the premise is, Hey, you're going to love me or hate me, but I'm going to be there in the amount of people that see me and say, I've seen you, I've seen you, I've seen you, I've seen you is insane.
00:12:14:07 - 00:12:37:00
Unknown
And you know, yeah, I'm thinking of selling my house. I'll reach out. Right? And so again, a lot of it is just top of mind. Now, some of these people know me and would be referrals from my normal referral business, but the benefit and what I'm about to do and really leverage this is actually create like the casino model, which is, hey, give me some referrals, get rewards right, and start to build a reward based system within the social worlds and then at credit people through the social world, right?
00:12:37:00 - 00:12:55:23
Unknown
So not only do you get the credit of of, of some level of, you know, comp and compensation, you know, through awards or different types of things, and doing it within the realm of what you're allowed to do within your business. But at the same time, it's also going to be, hey, here's blah, blah, blah, they were able to get us this and we were able to work with these amazing people and create this great opportunity.
00:12:55:23 - 00:13:23:00
Unknown
So there's so many pieces we're trying to say, very focused, as much as it sounds, rolling in place, but we're going in launching different things at different times to be very, very what's the right word like We're really present, we're omnipresent, we're also being omni focused, which I would say like as we target different locations, we're trying to target specific ideas about what's going to work best on Facebook, what's going to work best on IG, what's going to work best on YouTube, and then grow from there.
00:13:23:00 - 00:13:45:13
Unknown
And the next launch we are doing will actually be a podcast. I was listening to one of your other previous podcasts and he was talking about it's like when you set one up, you've got to do it consistently and just for the short form. Yeah, I learned to cut it all up. Yep, She said a lot. I'm going to impact us, you guys, because everything he says I agree with, but I'm going to unpack because I want you guys to walk away with this because first the question I have is how long have you been in real estate?
00:13:45:15 - 00:14:04:14
Unknown
16 years. Okay. And then so I like this. So you've been in real estate for 16 years and prior to you just having, let's call it a fucking midlife crisis or whatever the hell, I'll be 40 this year, so. Okay, well, there it is. And something happened where you're just like, Look, I don't give a shit. Is that fair?
00:14:04:16 - 00:14:32:13
Unknown
That's what I don't know what that was. If you feel like sharing, that's fine. But when was that time frame compared to where we're at today? So. So with the crash in our market, which happened in 2022, I was doing I had actually sort of not left real estate, but I was investing more prominently and I was I'm part of a real estate team and I insulated myself when my dad retired specifically because if I did decide to go more the investment side, then I could still make sure my clients, if I wasn't available due to whatever, they would have proper, you know, protections within my team so that I could make sure that no
00:14:32:13 - 00:14:47:17
Unknown
matter who you know, whether that's a referral hand off to one of the realtors on my team to make sure my clients are taking care because I have a lot of repeat and referral business. My dad's been in bit was in business since 88, so we've got a long history. Okay, she got the part. But then what happens is the market completely, you know flips on its head up here.
00:14:47:17 - 00:15:08:20
Unknown
And so the issue is is in the investment world everything changed wasn't great financial we had to reset my brain, try to reset my life and in doing so, literally mean my wife went away for a 15 year wedding anniversary. We went down to Cali for two weeks. We drove down to Mexico. We did a lot of fun things and while I was away though, the entire intention of being away was, okay, what am I going to do now?
00:15:09:00 - 00:15:24:14
Unknown
Right? What? What does it mean? You're getting out of the business like, you know, not real estate. It was it was okay investment. Do I continue down the investment road as my primary or do I do real estate transactional as my primary or where where am I going to go next? How am I going to reengage my business?
00:15:24:14 - 00:15:40:09
Unknown
Because I've got to figure out how to how to really insulate and build something that I can. I can make sure that I don't put myself where I am currently, right? Like it's if I'm going to get out of this, I'm going to take all the learning and I'm not going to call it failure, even though it's all a bunch of learn.
00:15:40:10 - 00:15:56:01
Unknown
You never you never, ever fail. As long as you walk away with the lesson. That's it. And so with all the learning, I just tried to get really clear. And so it's really funny is, is I just I just became me. And after that thing I went, okay, so I've been trying to be other things for other people.
00:15:56:01 - 00:16:12:11
Unknown
I've been like, as an investor, you're working with different friends and JV partners and all these things and I was always trying to appease and not in any negative way, but I'm a people pleaser. I realize that about myself. It's very evident. That is, unless you were to ask my wife to do that knowingly or unknowingly, like I know you probably for the most part.
00:16:12:11 - 00:16:28:07
Unknown
Yeah, I would say that's I could see that with a lot of people. Just you guys are tracking like this is very typical. Like y what he's walking you through Like you go 14 years of just doing the same way, same thing, and then it took the market from falling underneath it. You had to sit back and realize, right?
00:16:28:08 - 00:16:48:20
Unknown
Like, Fuck, what is this? What is this? Yeah. You're starting to realize that your personal brand is recession proof is where I said I could see your eyes going up. All right, so this is awesome. So now. So you get kicked out. You get kicked in the pants. Yep. 20, 22 and nine. You're like, shit. Okay, Now you're like, Did you still wear suits?
00:16:48:20 - 00:17:08:06
Unknown
And like, did you put on like, or you just sort of like, was there different in the way in the. Because if you look on his page now, you guys and you guys could go, go look at it. Jordan Sylvester So I say Sylvester, I can Sylvester, Sylvester look him up on and you'll see the content because it is it's very just it's very like, hey, what's up?
00:17:08:11 - 00:17:28:13
Unknown
Like, it's very just authentic, I guess, is the right word for it. When you go through his page, he's not like super dressed up. He just started talking like you just chill. Yeah, I was always kind of chill. And and I started in a suit when I started working for my dad as his admin and then got licensed and solely moved away to, like, collared shirt and pants to what I am now and what it is.
00:17:28:13 - 00:17:42:15
Unknown
It's t shirts. Yeah, flip flops and t shirts. But but again, what's funny is realtors that knew me so pre-COVID, every realtor knew who I was, and I walked up to a door. Everyone recognized me because I was different. I didn't look like most of the realtors, and most of them respect me because they all know my business.
00:17:42:15 - 00:18:03:14
Unknown
They know who I am. Like. And for me, if how I look and I get like, like I get the conversation, like there's a certain, you know, thing where we're a blue collar city down here with a photo, we're normal. I don't like normal out their word, but like the guys down here, I'd rather have a cottage and and a four wheeler than, you know, a massive single, you know, house here.
00:18:03:14 - 00:18:18:01
Unknown
They're going to they're going to spread their wealth around to create the best lifestyle versus work like you do in trying to live in a square box and hope to survive right here. It's like own some property, have some fun, get up north, go down south, wherever it is, whatever it is you want to do to have a trailer, play some golf.
00:18:18:01 - 00:18:32:13
Unknown
Like that's really our lifestyle here. And so for me, I'm a golfer. So realistically, I'm always prepared to golf. And the golf shoes in my bag are almost always in my truck. And as a realtor, I can work from the car. So unless somebody needs to see a physical home, I can write offers on the course. I can do a lot of things from the course.
00:18:32:13 - 00:18:44:24
Unknown
So I learned that I can. I can is as long as I'm, you know, everyone I'm golfing with knows like I might have to take the whole off, jump in the cart and just do some work. They get it, but I can go live my life. And so I learned to be really authentic with me and get happy.
00:18:45:05 - 00:19:02:07
Unknown
And the best way I can be for my clients is when I'm happy, right? And so once I became that and that's like when I went away after I lost and I felt like a failure to my wife, to my family, to my business partners, to all these people after the crash, because I just I couldn't respond fast enough or understand it fast enough in that moment.
00:19:02:07 - 00:19:16:08
Unknown
And like I said, because I'm a people pleaser, I made some decisions to like withstand some of it with some some partners when I would have made different choices if it was just up to me, which now I've already told all my partners, if we like, as we move forward and do things, I don't play well with others.
00:19:16:08 - 00:19:30:14
Unknown
Meaning I love to listen, I love to understand your position, but I have to be an authority to make the choice. I can't let somebody else in my world and this is who I am. There's nothing wrong with who I am in this. It's knowing that. Knowing that when I have to have a 5050 relationship, I'm in big trouble.
00:19:30:16 - 00:19:44:12
Unknown
Because what happens is I will defer to you. And yet I'm deferring to usually somebody who has less experience than I do. Not to state that if you do have more experience, it's just if you're working with me, I need to know that either I don't get to make a choice at all, or I'm all of the choice.
00:19:44:12 - 00:19:58:04
Unknown
I can't be in this weird, like 5050 spot in my in my life. And so, well, I was away with my wife and we were doing those things. I really got clear about who I was. And then I ran into my buddy who was like, Hey, let me do a deep dive on your business. He's doing the social stuff.
00:19:58:04 - 00:20:10:22
Unknown
And again, at this point I'm like, All right, I want to I want to get myself out there. I want to do something. But what? And of course, I'm religious by nature. I believe in God. I believe that there is providence in the world and like, here's this guy who this is this entire job. This is what he does.
00:20:10:22 - 00:20:24:11
Unknown
And he and I and I sold him his house two years ago. And I saw him on a golf course playing in a tournament just after we got back. And he was doing some video stuff there. And so then he said, hey, And he actually sent me a video like follow up in an email. So I followed up with him.
00:20:24:11 - 00:20:38:02
Unknown
And then like, you're talking, this is June of this year to this August. And he's like, How did you move so quick? Like, how did you go from where you were to where you are? I said, Because it wasn't hard. I already knew what I wanted. I just didn't know this is what I wanted. Like I didn't see it.
00:20:38:02 - 00:20:54:11
Unknown
Like it's like you go away and you try to make your plans and then nothing works out exactly as you think because you just don't know what to expect, especially in this world. I figured I'd start, like, posting on Facebook, start doing some small things, and then I listened to Gary Vee. I'm watching and trying to learn from other people and understand, okay, so if you're going to do this, what does that look like?
00:20:54:15 - 00:21:09:08
Unknown
If you're really either I'm an all in or not personality, I mean, they're going to do it or I'm not going to do it. I have to. What's the point? WAY Yeah. And so I pushed all in with with the social world and I said, okay, so I can do billboards, I can do bus benches, I can do all the static, normal marketing and realtors always done.
00:21:09:14 - 00:21:26:00
Unknown
You can buy the ads in your local magazines, do all these things. That's great. Or I can go online and I can get across all these platforms in my reach is not as local, but it is much broader. And that was sort of one of those really cool things that I like. Again, I've got six years under my belt.
00:21:26:00 - 00:21:41:21
Unknown
My dad was in the business a long time. I learned a lot from him, like the amount of knowledge that I have in all the different arenas. I've helped a ton of people do investments and do different things. So when you look at all of this, it was it was how do you get going? And like I said, so I went out and got somebody and then we just started creating content.
00:21:41:21 - 00:21:55:08
Unknown
The first time I ever released content was hilarious. There's also a golf tournament that was later in August, and my buddy goes, Hey, I saw your your video. I'm like, You saw my what? What are you talking about? You actually. And then I think like, my God, I go, Hey, what the heck? He's like, Yeah, I'm just testing the waters.
00:21:55:08 - 00:22:14:03
Unknown
I'm starting to warm up, you know, warm up, warm up right? So you got to like, you can't just go from nothing to a million, right? So he said, Hey, let's just get it rolling. And so he started to drop videos, drop videos, and then we're just going to keep pumping and now we're about to add money. So like money not only in the creation of all the content, but money in the sense of boosted posts and doing all that side of the house and then measuring.
00:22:14:03 - 00:22:30:11
Unknown
And the biggest thing I'm learning is have the ability to measure what you're doing, test it for a bit and then hit, stop or go. And if it works well and then and then try something new. If you're not finding the result, you're looking for what the metrics say, because there's a lot of people who do this don't don't try to like go out there and be the new you know what I mean?
00:22:30:11 - 00:22:45:11
Unknown
There's there's enough information on the Internet these days with big data that you can go and find out what is working and what isn't working. I don't think you have to go figure out this brand new thing because you're going to only you don't even need to buy a course anymore. Like it's just, you know, you overthink it either.
00:22:45:11 - 00:23:05:16
Unknown
All you got to do is just like, like, what are you going to talk about? That's I usually where people get stuck. I think it's more people get I think they get stuck on just like, my God, people want to see me. I don't want to be just like, how when we started a conversation, like, we don't want to get on video, I want to do this the podcast right now, to be honest with you, you know, this is a good this is a fun conversation, but know, we've been doing this ten years, but we're consistent.
00:23:05:16 - 00:23:25:12
Unknown
You have to keep on rolling because that attention is is is, is monetary. You guys that attention actually has value to it. Let me ask you a question on this. When you started creating a lot of content, what happened to your referral business? Yeah, again, it's starting to rise, right? So one of the things that people like I mentioned earlier was it wasn't just a few new people that are seeing me.
00:23:25:14 - 00:23:37:04
Unknown
It's like, so even today, before we jumped in this call, another buddy dropped in Facebook and through it like I've never sold his house. He's just a friend I know on Facebook who knows me and sees my content. He's commenting and all of a sudden he's now. So he says, Hey, I want to sell my house in this neighborhood.
00:23:37:04 - 00:23:55:22
Unknown
And all of a sudden he's popping my name in like, And I'll say this. It was just like, That's such an interesting thing because it's like, I know him. I coached with his kid, we did hockey together. But like, that's you're going back probably five or six years. He hasn't seen you in that light before because you usually it's usually like you guys are bro and out on the ice, hanging out, ready to go, blah, blah, blah.
00:23:55:22 - 00:24:13:08
Unknown
I'm like, I don't think of you as even a golfer at that point. You mentioned your golfer, but you're now your hockey dad, right? Or whatever. You're playing rat hockey, whatever it is. You may even think of the golf thing. That's how shortsighted people are when they don't think about it. And we as human beings are like, no, this guy knows everything about me because of me, me, me, me, me, me.
00:24:13:10 - 00:24:30:13
Unknown
We think we're more important than we actually really are. And that's why we never do it, because we think everybody knows. And here's the thing, guys. If like, look at your Facebook, like if you have let's just say you have a thousand friends on Facebook, okay? I'm just going to assume 50% of them are local to your market.
00:24:30:15 - 00:24:47:21
Unknown
If you only did six sides last year, you're a fucking ghost. If you only did 12 sides last year, you're fucking ghost. If you went to 20 sides last year and you have 500 people on Facebook, know who the hell you are, you're a fucking ghost. What do I mean by that? Well, the statistics are 10 to 15% of those 500 people are moving this year.
00:24:47:23 - 00:25:07:22
Unknown
But that's the short sighted number. All 500 of them know someone they can refer you to. That's a number I'm after. You have to become more marketable and more referable in order to attract more referrals. Right. It makes it's common sense. You can't do that without creating content. You can't do that when you're M.I.A. That's why that's what happens.
00:25:07:22 - 00:25:24:20
Unknown
It does. I bet you people, let me ask you this question. Do you remember any video you saw yesterday besides the NFL games, besides the championship games? All right. Do you remember anything else you saw on video yesterday on social media? Yeah, it was. Watch. It's only because Tucker's here up in Canada, and so he's he's he's on his tour.
00:25:24:20 - 00:25:46:14
Unknown
So I listened to quite a bit of what he was talking about. So him. Yes. And then Ben SHAPIRO and one of the rappers dropped a pretty interesting see that there's that pieces everywhere like that. That thing is everyone's reviewing it like that. Have I've seen guys review different things a few times like we had what's his name, who did that song like in August, I think it was, you know, and came out of nowhere and created those hits.
00:25:46:18 - 00:26:06:23
Unknown
But like, it's interesting. So yeah, a lot of it does stick with me. And then and so I don't remember, but 99.9% of them, they use like I scroll like anybody else. I spend an hour probably scrolling and then I try to jump into my stuff and like and follow and talk to anyone who wants to communicate. But when you when you're doing those things and you're seeing them, yeah, there's a few videos that catch my attention, but a lot of it's just funny.
00:26:06:23 - 00:26:22:24
Unknown
I like my comedy. For me, it's always watching the wives and husbands things and all that type of stuff. So usually my feeds filled with so bad. How many When you're walking around, you're like in the grocery store, you might even have you might be out and haven't seen someone a while. People are like, Hey, I see your videos, I see your videos.
00:26:22:24 - 00:26:38:04
Unknown
Is that what you see happening? Yeah, that's the part that's so insane is there's people who, like I said, so like this guy Mark, who was just talking about who just did that referral thing. Like, I haven't seen him. I haven't seen him in person in a long time in his and a couple of other guys. But they're all seeing me now and they know me.
00:26:38:09 - 00:26:59:12
Unknown
They've actually the cool part is these people have met me and know who I am and they they know enough about me and then they see me all over the place online. Now they're starting to say, Hey, this guy, hey, this guy. And so that, like the other big one was now that I've got the socials going on, I'm going to my own database and saying, Hey, guys, like, like and follow my mom who's working for me doing you guys, you guys are doing socials with this like events we're going to.
00:26:59:12 - 00:27:20:01
Unknown
So the social pressure. Yeah. So we're going to crush big social events. Part of it's going to be that we're going to probably do a launch with our highest referral. So basically we're going to create, like I said earlier, it's like a casino referral program where you kind of the more you play, the more you refer, the more you do, the more we're going to repay and we're going to and it's going to be through those events which will then, of course, show up in cuts.
00:27:20:07 - 00:27:35:22
Unknown
And if again, we always get consent from people. But hey, if you can give us a blurb about why, like why are you here? So where we're going to do those events at a clubhouse somewhere, we'll either do a golf community or some kind of golf type thing. Well, we'll probably head up a couple. One of them will be at the main office.
00:27:35:22 - 00:27:50:18
Unknown
It's easy. We got a cool location once we hit Summertime. Probably might even just throw it here at my house, do the outdoor back party. You know, I got the pool, open it up for families and kids and just, hey, like do more of an open house style thing, try to be different and then though, but be consistent.
00:27:50:18 - 00:28:08:21
Unknown
So again, if we do it this year, do it next year, and then start to really show those value ads. And like I said, so we might do and then probably throw like a golf tournament or a charity like, yeah, something highly charitable, raising the line like there's a lot of you're doing it anyways. You might as well just might as well just start raising funds when you're going out anyway.
00:28:08:22 - 00:28:22:18
Unknown
Can be out there Saturday myself. Throw a tournament. Yeah, well, hey, guys, we're going to, we're going to run this, we're going to cover this. But if you can, because here's the charitable side. As a team, we we've decided we'll buy the golf. But for you guys, hey, grab your for some. Come on out. We if you can.
00:28:22:18 - 00:28:40:07
Unknown
Here's the cost for meals and donations. Here's what we're trying to do and raise money for this time and build in the reciprocity piece because for me like we're part of a smaller community just outside of Windsor in LaSalle, it's about 30,000 people. And then again, so I can get, you know, leverage in there. And then you go to the city in the downtown cores and the people in need and it's just like, how do you give back?
00:28:40:07 - 00:28:53:13
Unknown
How do you if you're going to make money in this life, how do you turn around and give it back? And I get there's a social think. If you watch some of my videos, you'll see one of the things I hate is asking for business I would rather not like. For me, I want to help you. I don't like selling you.
00:28:53:13 - 00:29:08:09
Unknown
I don't want you to work with me because you whatever I want you to want to work with me because I can help you. I can support you. And that's my message, not only in content, it's also in my business. It's also in the philanthropy that I'm looking to hopefully be able to do at a larger and larger scale.
00:29:08:11 - 00:29:35:01
Unknown
Not only just give back with time, but actually give back with money in meaningful ways to the city and communities around me. So again, there's some really cool stuff that once you start to build a brand, you can leverage your brand into being able to then, you know, help people in your community. And whether that's monetizing the brand, whether that's using it as influence within the community so that you can then go to the city halls and places and get like cause actual change and be a voice of reason maybe in your community.
00:29:35:05 - 00:29:53:18
Unknown
Yeah. Again, once you one of the things that once you start to become a voice, it's hard to silence you, especially across social when all you do is give. It's not about hey get, get, get. It's about give, give, give love people care for. So that is well said. If you guys are going to write anything down, write that down.
00:29:53:18 - 00:30:10:07
Unknown
Because I think when you're my next question I'm going to ask you was like, how do you determine what you talk about on social? And this is the biggest point from people and you're right, you have to take that mindset that he just said, at least for me, it's how I it's not about like, you know, because we know that we're posting to make money.
00:30:10:11 - 00:30:26:06
Unknown
So it's hard to think about like, how do I give when I'm really just trying to receive, right? But it's really in mindset, you know, it is like that that becomes like your content strategy is it's not like no one wants to get on a soapbox and sell real estate. Like that's like the worst thing. Like, just like they're just sold.
00:30:26:07 - 00:30:45:03
Unknown
I don't cares. But there's so many ways you can just no one's going to remember what you're talking about, first off, to the point where it's like even if you said something really bad, you people to forget about a couple of weeks, like even like you could say the worst thing ever, but you do have to get. So how do you come up with your content?
00:30:45:03 - 00:31:02:00
Unknown
Cheri? What type of videos you're creating, What do you what's the subject matter for you personally? And like, I see some stuff you're talking about real estate stuff, but not always. But like what's you're talking about real estate. But you're doing it in a way that's authentic and it's not like it doesn't feel salesy. So I'm looking at all your shit right here.
00:31:02:05 - 00:31:17:13
Unknown
So tell me about your tell me how you do it. Like what? That thing that some people struggle. Like what is the content? The benefit of the content is the guy who's recording it. So one of the cool parts is just ask me questions like we we have a list of things we're trying to go over. He has stuff he wants me to do because again, his job is to help promote, right?
00:31:17:13 - 00:31:32:13
Unknown
So we have a website, we've got stuff, we're realtors, we're trying to get our job done. Like, so there's there is the hooks, there's the come in doing that. The biggest thing I've learned, though, is is just give, give, giving people a recipe reciprocal. They're going to want to give you something. So when you do these things, you start to ask for help.
00:31:32:13 - 00:31:43:07
Unknown
Just start to ask people. And here's the thing. One of my my team leaders say, because like I said, it's hard for me to ask for business even from out of the bar. I just want to talk to you, say, hey, what's my answer? Well, let me do some little homework quick. Let me see if I can help you, blah, blah, blah.
00:31:43:07 - 00:31:55:23
Unknown
And if it turns into a transaction, awesome. If it's better that you stay in your home and it's not for you, Awesome. Like I'm the guy who is funny as this is. I'm not looking to sell your house. Like, if it's the best thing for you and your family, it's the best thing for your future to sell. Cool.
00:31:55:23 - 00:32:13:07
Unknown
But what if you can take that asset, reinvest with it, get yourself a piece of another piece of real estate to help grow your long term wealth. So you're aiming at retirement when you're 60, or then maybe 55, maybe 50, and then maybe 45. If you're younger, like you might be able to pull retirement by like investing in something you can leverage like real estate.
00:32:13:09 - 00:32:31:22
Unknown
So a lot of what I want to do is just get in your world, understand your world, understand your risk tolerance, where you're comfortable and what resources you do have to make your life better. And so for me, like one of them, like one of my team leaders told me and she's like, So would it be better for them to work with a different realtor if they're going to do this or work with you?
00:32:31:24 - 00:32:43:11
Unknown
And I'm like, Well, I believe work with me because I believe like, you know, we I got to have a little bit of, you know, whatever you want to call it in this business. But yeah, there's not as many like, there's a few out there. Them again. they're amazing. I know them great guys. They're going to do great girls.
00:32:43:11 - 00:33:00:16
Unknown
They're going to do amazing things for you. But there's some you're like And so if if I'm if I'm being honest, I would put myself in the upper echelon of realtors in my local market. I just would as far as care and compassion and working in the best interest of the client. And when we do need to do these strategies, I'm one of the like my mind is gamified.
00:33:00:16 - 00:33:19:13
Unknown
I love the real estate game. I love when we have multiple offers and we're putting people back against each other and working the strategies to get max dollar for your property and not only max out, but best offer meaning most likely to close, most able to take care of all the little intricacies. So for me, I back up not only what I say on socials, but I also am that guy when you meet me.
00:33:19:13 - 00:33:34:11
Unknown
If you were to sit down and just talk to me in real life, you're going to meet the same guy that you see on the screen. I'm the same guy at the grocery store, same guy at the local pub, same guy on the golf course, same guy on vacation, like I just am who I am. And for some people that, you know, might be too much for other people, they love me.
00:33:34:11 - 00:33:48:14
Unknown
And that's, you know, cool. Love me or hate me, I it's really at the end of it, I'm only going to help the people who want me to. And the other ones are going to choose somebody else. And that's perfectly okay. There's enough out there that I don't you know, I don't need everyone to love me, even though that's what I want, right?
00:33:48:14 - 00:34:06:09
Unknown
Everyone does. Everybody has to like, you know, you see the people who really do like you to want to work and be with you and create a network of people in your world that you know and trust and create an active referral partners with in your own, like activating your own referral brand. Right. Is all the people who've already done and transacted with you who love you and want to tell everyone about your business.
00:34:06:09 - 00:34:18:05
Unknown
You just don't tell them to do it or you don't give them a way to rate on social media. You have the simple way where these people can come right on. You can go on live, you can add them to live. They get to talk about their experiences. These are things I'm learning about. I'm still not even doing them myself.
00:34:18:05 - 00:34:32:04
Unknown
I'm just like, Man, that's a cool thing. You can do client referrals with clients who will jump on, and most of my clients are a little bit crazy. So a little bit like me and might be a little bit like, I don't know if I should. It's like, Hey, I'm just going to ask you a question. Would you answer it on camera and then if you don't like it, we'll do it.
00:34:32:04 - 00:34:48:19
Unknown
We can do it off camera. It'd be pretty fun. I would buy like you could probably buy golf rounds. Would be a good way to do it for referrals. Like it'd be like there's a lot of ways to do this. I want you guys to I'm going to end with this and I'm going to do some post I found on his page.
00:34:48:21 - 00:35:04:19
Unknown
And this this is what what do what he writes. So here's how he writes. I can guarantee you one thing. What you see here is what you get. I'm not the old school realtor wearing a suit and tie hat, shirts, shorts, flip flops. Instead, I believe in being authentic, and that's why all my content is exactly what you see when you meet me.
00:35:04:24 - 00:35:21:23
Unknown
So if you're looking for a down to earth, real and authentic realtor, let's chat. And he just tells it how it is. And you know, people appreciate that. And I'm sure there's some like there there's probably some some dude with a stick up his ass in Windsor right now. I was like, my God, that guy is so fucking unprofessional, you know?
00:35:21:23 - 00:35:38:12
Unknown
What do you care? Jordan No, I learned not to. That's good that, guys, I'm going to tell you it. You said it earlier in this conversation. And the most important thing and it's something I say to all the new agents all the time when they're doing calls or doing different things. And I you have to remember, A, nobody knows what you're supposed to do.
00:35:38:14 - 00:35:54:19
Unknown
Nobody knows. Nobody is out there going, you're not repeating exactly how how this trainer said to do that. Right? Nobody knows what you're supposed to say and to no one really cares about you. And I mean this in the most honest way. You care because you think people care what you have to say. And honestly, they don't.
00:35:54:23 - 00:36:11:00
Unknown
What they do care about is feeling that you care about them. And I'll say this if you can actually care about them, that will benefit you, because I think if you're authentic, you'll come across. But even if you have to train yourself to learn to do that, that's the skill of real estate, in my opinion. We're counselors more than we're salesmen.
00:36:11:02 - 00:36:27:00
Unknown
We're in people's big time world, so be real and know that it's okay for people to not like you. They're not all going to and I don't like it. I will be honest. It's still not something I've fully digested, but it is something I do I sort of come to grips with, and that's why I go live. I do those things.
00:36:27:00 - 00:36:43:14
Unknown
I'm just out there like people are like, your thing looks all shaky because, yeah, I'm running around with my with my hand holding the screen, walking. It's like, yeah, I should buy one of those better things, all these knickknacks and things. But I'm just doing it with what I've got now and keep upgrading, right? Just start and just keep upgrading as you need to go.
00:36:43:16 - 00:37:03:15
Unknown
That's all. Shaky. Yeah. Damn right, it's shaky. Gold Ally. What are you fucking blind? It's freezing out. It's -30 degrees out here. That does better, though. I don't mean like Jordy watched over one more time where they can find you. You can find me in Jordan Sylvester dot com. Or you can reach out across pretty much any of the platforms.
00:37:03:15 - 00:37:30:00
Unknown
LinkedIn, Tik-Tok, YouTube, Facebook and Instagram. You know, guys, if you do just want to reach out, you're welcome to DM You're welcome to call 5199600350. You'll probably reach one of my assistants, but I'm not far behind. So if you have any questions or concerns or want to know what I'm up to and you want to you want to pick my brain or you want to get in contact with my guy that's helping me do what I'm up to, I'm more than happy to share the secrets of what I'm doing and how I'm making it work in my world.
00:37:30:00 - 00:37:52:22
Unknown
So appreciate it, man. And yes, appreciate you guys. Listen, another episode, the Real Estate Marketing Do podcast. Don't overthink this content creation stuff. You have to do it and you just have to get in the habit of it. And that's really all it is. After you get going, you won't stop. Rarely people do because it works, and if it didn't work, people like me wouldn't be sitting here talking, at least in the last 40 minutes, telling you about why it works and about how much we hate doing social media ourselves.
00:37:52:22 - 00:38:11:01
Unknown
But we do it because it creates money. Secondly, if you like what you heard here today, you got to check out our new software referral suite. That's a referral S.W.A.T. suite. We give you all of the content to create on social each and every month, as well as direct mail to automate to your database. So stay on top of mine there as well as video emails and send them.
00:38:11:01 - 00:38:25:13
Unknown
We'll give you the script a subject line, and we even tell you what to record the videos on. So don't overthink this stuff from your database with content. Do it on social, do it on email and do it on direct mail. Normal people stop forgetting what it is you do and start referring you business instead. See you guys next week.
00:38:25:13 - 00:38:43:13
Unknown
Thank you for watching another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is. Visit our website at WW Dot Real Estate Marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site.
00:38:43:18 - 00:39:08:19
Unknown
Download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Authenticity Wins All The Time (ft. Nick Woodard)
12 feb· Real Estate Marketing Dude
If you are creating a brand, the most important thing you can be is authentic. Today we are talking to Nick Woodard about what it to means to be authentic and to reflect that in your business.
Resource
Check Out Nick's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
What's up? Ladies and gentlemen, welcome with our episode of the Real Estate Marketing Dude podcast. Folks, we're going to chat about today is the only thing you should be focused on in 2024, because I was like, What are you going to do in markets?
00:04:04:08 - 00:04:21:19
Unknown
Strange thing. What new shiny objects coming out next? What kind of work? I buy more leads. Work? I do this. No, dude, just need to start being more of yourself. You you need to be authentic before you could ever start marketing or attract anybody online. If you have any bit of like fakeness or bullshit about yourself, you're in turn people off.
00:04:21:19 - 00:04:41:24
Unknown
And today's entire show is going to be dedicated towards one thing Authenticity. How do you become more authentic? Authentic? How do you become more authenticity? How do you become more authentic? So I think Nick here reached out to me maybe on Instagram, if I'm not mistaken, or maybe it's Facebook, I forget which platform, but he's been listed in the show for quite a while.
00:04:41:24 - 00:05:03:17
Unknown
Appreciate that. But you know what? He really massages like my ability to show for a while. And this guy's been an agent for 20 years in a bar was six or seven years ago. He says he stopped he stopped being that perfect, perfect like Barbie doll and all type of an age it right? Like the stereotypical fucking person.
00:05:03:17 - 00:05:20:20
Unknown
Hello. I'm here for real. Say you write your name tag and everything, right? Perfect. Suit. Your socks are perfect. You're driving the car. You might have rented it from a friend just for the day, just to do showings. Right. But you put on that front. We've all been there and he stopped caring. He just said, Fuck it. I'm going to go out and be myself.
00:05:20:21 - 00:05:35:09
Unknown
And we're going to hear story today. We have have not dug into this or you to hear it live with me here. We haven't practice this or anything like that. And he said, Mike, once I stopped giving a shit, I started business, took off, I started being myself. So the first thing I do is I go to his website.
00:05:35:09 - 00:05:55:18
Unknown
I want you guys, if you guys are online, go visit his website and keep him in mind for your referrals because you'll be in good hands. But without further ado, we want to go ahead and introduce Mr. Nick Woodard from Middle Tennessee. What's up, Nick Paton And dude, good to be on here. I'm a friend. Yeah, forever. Thanks for coming on.
00:05:55:20 - 00:06:10:06
Unknown
Do people want to hear your the story? I like I love these shows because you take something and you actually run with it. And I want to just hear the whole story is like from start to finish. I think people are going to get a lot out of it and you guys have to learn how to connect with people online.
00:06:10:06 - 00:06:29:02
Unknown
And it's just like you connect with your neighbor, you connect with people at church, restaurant bars, whatever you do, I don't care. The same way you connect with people one on one face to face and same way you connect with them online. But it's very difficult to do that when you're really not in your own true skin. And my first question I have for Nick is, Nick, how long were you in real estate?
00:06:29:04 - 00:06:51:02
Unknown
All you time. Overall, I've been in it for 20 years. It's now growing here just south of Nashville, Middle Tennessee. And I went to high school here, went to went to college at MTSU, and then got into real estate because it was kind of a family thing. And that's that's what I was going to do until I figured out what I wanted to do.
00:06:51:04 - 00:07:07:20
Unknown
And here we are 20 years later. Yeah. So sort of a similar story, like, I actually took this, I need to graduate college. And I was like, in last three hour elective. Our teachers, like, you can make a lot of money in real estate. And I'm like, sweet guys. That's what I'll do. Now, the first half of your career because you made the switch, right?
00:07:07:20 - 00:07:24:20
Unknown
I'm going to I'm going to explain if you guys were just listing visually what the switch means. So if you go on to Nick's website, Nick Twitter.com, first thing I see is a pair of boots and like a baseball type cap and it's a615. He's actually wearing a six foot five hat right now. I'm guessing six one fives is area code, right?
00:07:24:21 - 00:07:44:24
Unknown
So but he's he built a brand. Every single person has one thing right off the bat. When I landed on your website, I already saw 615 and I already had a different impression, a different connection with you than anybody else. And because when a consumer logs on typically real estate agents website, what do you expect to see like Nick, what do you expect to see if you log on to a real estate agent site?
00:07:45:00 - 00:08:08:21
Unknown
Be honest, there's no holding back here. Yeah, I mean, you know, you get the stereotypical Sunset Strip stuff and, you know, flashy cars and, you know, fancy houses and suits and, you know, everybody playing the game, trying to be, you know, just uber professional, which, you know, I'm still very professional. I just I do it in jeans, boots and a hat.
00:08:08:23 - 00:08:29:03
Unknown
And it's just when you become authentically you, the game changes. Yeah. And you put your beliefs if you guys been listening to showing and I appreciate this he doesn't he's not scared to claim the only name that means anything Jesus Christ, Lord and Savior. But he puts it on his site, not like something like that. People don't want to, like all the time.
00:08:29:03 - 00:08:44:09
Unknown
Should I talk about religion? Should I talk about politics? Should I do this? I do that? And the right answer is, Well, do you do that when no one's watching? And if the answer is yes, then the answer is yes. You should be doing that on your site. Why do what? Hold you back so long? And we just, like, stuck like, No.
00:08:44:09 - 00:09:09:09
Unknown
Well, I wasn't growing at the pace I wanted to grow. And to be honest with you, it was mainly the the online presence change. You know, the game's changed. You have to create content like you preach all the time. You have to brand yourself. You have to do those things that are different now compared to 15, 20 years ago.
00:09:09:14 - 00:09:34:12
Unknown
Yeah. And so when I started picking up on doing these additional, you know, new things, that's when I was like, you know what? It'd be a heck of a lot easier if I just take video of me being me. And, you know, that's kind of what started it all. You know, a lot of my videos are now, of course, you know, local updates and tours of homes and all that fun stuff.
00:09:34:12 - 00:09:58:05
Unknown
But, you know, I put in videos of I've got a 60 acre farm South of town here, and I'll go down there and shoot guns and fish and hide. And I'm an outdoorsman. And, you know, you put you put you being you. And people will gravitate to that, like you say all the time. You attract your tribe and his Instagram and on his Instagram page, he it's awesome.
00:09:58:05 - 00:10:15:23
Unknown
Like he penned and I could just like, I'm just I'm on your Instagram right now on my phone. And the second pinned video he has there's him shooting was like Buccaneer 5040s and it looks like some kind of machine gun. But yeah, you're right, because people probably say that to you. Like, here's a question just from your Instagram handle.
00:10:16:02 - 00:10:36:09
Unknown
I'm sure you does this generate your business? Instagram More business comes from Instagram than anything else. Now, how many people, when they reach out to you, mention something about the gun almost every single one of them. And most of my clients, you know. But wait, it's wait. I thought we're living in like a woke America where guns aren't cool.
00:10:36:09 - 00:11:01:16
Unknown
And if you have a gun, like, you're like, bad news, man. You know, man, it's kind of one of those things that, you know, I want people to know me before they meet me. So, you know, I'm a devout Christian and unemployed, unapologetically conservative. I'm an outdoorsman, a dad. And I want you to know that on the front in I'm not for everybody.
00:11:01:22 - 00:11:22:05
Unknown
And you know what? I've I've brought in more people that want to work with me because of showing who I really am. I would agree with that. I've seen I've done it like I've it was similar like when I did the do think so first real estate market to Chicago real estate dude then in turn in the real estate marketing dude.
00:11:22:05 - 00:11:42:23
Unknown
But it was a brand right It's a brand guys is the 615 thing I pretty sure I don't know this either, but do people ever call you like the 615 agent or the 615? God, you get that a lot. I don't. I don't get the names, but I do. Walking around town, I have people come up and introduce themselves, the agent with the hat, and they they put it together.
00:11:43:03 - 00:12:05:02
Unknown
your Nick. We watch your content and, you know, good job. And you're like, Watch that, bro. Like, you actually watch that video, right? Floored me the first time that happened. It just, you know, so there's eyeballs on you. You don't know. And if you stay consistent with it, you, you know, you can really build something. What how long did it take you to like?
00:12:05:02 - 00:12:23:19
Unknown
Because when you start creating content, it isn't like we make it sound easy. Like I make it sound easy. Guys, it's not all right because I do this every day. But of course it's going to be easy for me. But if you haven't done this before, throwing yourself out there for many people. Scary. You know, I just got done shooting a video with a guy yesterday.
00:12:23:19 - 00:12:43:12
Unknown
This guy makes, like millions of dollars a year. He's the most confident attorney I've seen in a long time. But when he gets on camera, like is he buckles at the knees and so many people get stuck like like who cares what other people think about you, right, Right, Right. Does everyone is everyone who comes your way like you realize that?
00:12:43:12 - 00:13:12:09
Unknown
Like you feel like you're there, like your brother from another mother, sister from other business. You feel like, okay, I just get along with these people, you know, I feel completely connected with most people before they even get here, because I know most people, you know, we try to impress everybody and be everything for everybody. But in all reality, you're when you become you and show who you really are, you attract like minded people.
00:13:12:11 - 00:13:43:03
Unknown
And so there's a there's an automatic connection before we even jump in the car. Where else are you, Tommy? Talk to me about your marketing, how you stay in front of people. First off, are you doing anything cold? Like buying leads? Anything cold at all? Like, anything for buying any type of advertising like that? No, I've actually, you know, not to, not to steal your stuff, but you know, I've been listening to you forever, and so I do, you know, snail mail.
00:13:43:06 - 00:14:21:15
Unknown
I do the video emails, I do Instagram, I do just a whole wide, wide range of stuff. How big is your email list right now? It's not huge. Probably 800, 900 everyday. And these are relationships, correct? These are all people that I know somehow, someway. Not. Not. Wow. All right. Let's break the math down on this. This is great 800 relationship and you're using video email.
00:14:21:17 - 00:14:42:06
Unknown
What's your. Let's do that. So let's I'm going to show you guys why this works mathematically right now. Let's dig deep on this. So you have 800 people open your emails. What is your open rate on those video emails and how often are you sending them out? I send them out probably every 2 to 3 weeks. Open rate is just south of 50%.
00:14:42:08 - 00:15:02:20
Unknown
shit. Okay, so here's what this means, you guys in mathematical ways, because this this is what a traction is. I'm going to define it right here. Good job, dude. First off, congratulations on the 800 email is Will relationships mine at my peak was 400 half of that an average I only see. It's okay if you start out with 50 relationships because you didn't get this overnight.
00:15:02:20 - 00:15:17:22
Unknown
Right? And everyone says, I don't have an email list, but everyone has a wedding list. So much. So how do you have a wedding list? But you don't have an email list because you're waiting List is your email list. If you know like entrust them, you're farming them in any which way you can. Video emails the best email strategy ever.
00:15:17:24 - 00:15:41:16
Unknown
I haven't see anything work better. I'm averaging 40%. You're averaging to 50%. It's because you have a much better relationship with them. What? What are you sending them on? Video email. First, take it. You're getting a 50% open rate. What is that type of content? You're really it's it's more engaging stuff like, you know, I, I moved to Brentwood, Tennessee just happened that school when I was seven years old, 1988.
00:15:41:18 - 00:16:15:10
Unknown
So I do a lot of you know, this is what I saw growing up. Basically, the William, you know, is a county. I specialize in this like Brentwood. FRANKLIN No one's little Thompson Station, just just south of Nashville. So I like to tell stories of of the way it was. You know, I live right outside of an area called Cool Springs, which is, you know, a thriving you know, it's got mixed use homes, commercial, all that stuff.
00:16:15:11 - 00:16:36:23
Unknown
And I like to tell stories about when I was in middle school, we couldn't get pizza delivered so far out in the country. People people engage with stuff like that. The key sad is stories. Guys like it. Pay attention to this like he's he's hitting on the head stories because if you make statements it's harder people know the difference like stories versus statements is a big thing.
00:16:37:00 - 00:16:57:06
Unknown
You make statements, you're telling someone something and no one likes to be told anything. Correct. But when you tell stories, you're like, I can I can relate to that. Now, whether you know it or not, you were one of the ones that taught me that be good at telling a story, be a good storyteller. I'm doing the math on this video emails.
00:16:57:06 - 00:17:17:09
Unknown
Here you go. So let's look at the map. So 800 people open them at 50%. Open. Right? That's 400 people seen him. Looks like you're about one and a half times a month on email. This doesn't count social media or anything he's doing. If direct mail, branding, whatever else he's doing, he's just when someone takes acknowledgment of your existence, you're basically having a conversation.
00:17:17:09 - 00:17:37:03
Unknown
That's what I love about video email because they don't want to talk back to you. You just need to have that face time. Right? But here's the math, though. So 400 people a month are opening your emails and you're touching them about 18 times a year. So out of those 400 people a month, these are just the opens, 10 to 15% of them are moving.
00:17:37:03 - 00:18:04:09
Unknown
So you got about 40 to, what, 50 different people just they're moving. And then out of all 400 of these people, all of them know someone who's moving, especially to Tennessee. Most of them are coming from Chicago. I probably know like ten people moving to Tennessee right now. But dude, so on emails, how many people respond to your emails because no one responds to it?
00:18:04:09 - 00:18:26:21
Unknown
Turn back the clock. Email No. One response to a just listed email. Guys. How many people? To be honest, it's a little bit hard to figure out what the return is because it's just a consistent. Then you just do it over and over and over. And then I add, you know, a lot of snail mail to it, and it's not boring either.
00:18:26:21 - 00:18:51:22
Unknown
Usually it's a handwritten note, you know, I've got a database of probably 200, 300 people that are my close group that are also on that list. You direct mailing them. Yeah. And it's usually know a lot of times I'll sit down with a stack of thank you cards, put a $5 Starbucks gift card in there and just say, Hey, thinking about you, please remember me.
00:18:51:22 - 00:19:15:20
Unknown
If you know anybody that how many people do you send that to you that go to the 200? Yeah, they probably go back to I love it And it's a legal bribe. You guys like 200 people. It is. It's a legal bribe. All right. It's 200 to 300 people. That's that's going to cost you 1000 to 1. That's going to cost you 1200 dollars.
00:19:15:20 - 00:19:43:16
Unknown
You're going to spend 1200 Oscar database. All you need to know on deal. And you what? Go in there and buy all those gift cards at 8:00 in the morning at Starbucks. They love that. That's fun it when everybody's waiting behind you as they scan in a hundred. Get those now he saw some the second ago and if you guys caught it but it's very hard to track like the emails you know they're getting open right And you don't know where people will come from.
00:19:43:19 - 00:20:00:08
Unknown
It's tough. Like you're like, where do you see me? Unless you get you probably ask once in a while, but probably not every time. But it's like, yeah, you got to ask the same from now. The beauty about this is I'm going to guess at all out of the people that are on his direct mail list, 200 or 300 people.
00:20:00:10 - 00:20:19:17
Unknown
And when you're direct mailing people, 100% of people have to engage with you unless they live at the wrong address. So if they throw the piece away, it doesn't matter. It doesn't matter what you direct mail and it just matters a direct mail him something because it's the only physical touch, right? His email is a virtual touch. And I'm guessing all the people on the direct mail address, they're on your email list, too, I'm assuming.
00:20:19:19 - 00:20:44:21
Unknown
Right. And they're probably also friends with you on social media. Yeah. And I've actually gone you know, one thing that I started doing not too long ago is take all my contacts, find them on social media and engage with them on social media to try to trip, you know, trip that the algorithm to pull my stuff up in their feed and vice versa.
00:20:44:23 - 00:21:03:16
Unknown
Have you tried to boost your Facebook from your personal profile yet, just to your friends? No, I actually no, not to. A lot of people haven't done it. Yeah, do it. Try it. I'm curious to know what will happen and if you guys are listening, you could do this with a brand account. You could actually you don't see a business page anymore.
00:21:03:16 - 00:21:20:11
Unknown
In other words, because what the hell is the point of a business page to run ads unless you're running like advanced ads? But if you're just trying to market your database, I would just pick the one or two best performing posts each month and I would put ten bucks behind them. Right. Because you're going to reach way more of those people just to pay to reach them.
00:21:20:11 - 00:21:46:01
Unknown
And it's still worth it. Now, the only problem I've ever really had with with boosting in ads and everything is the, you know, the the firewall for the, you know, you can't really target exactly who you want to target. Are your friends. Yeah. Good call to all I want to target cause now I got duties to their land and sea approach to same it just you don't need a large like audience here.
00:21:46:01 - 00:22:11:06
Unknown
We're not talking about tens of thousands of people but you don't need. I mean, the average analyst does like 6 hours a year, dude. Like, I don't know what the average sales price is by you, but statistically and mathematically, like, you're you're crushing it. Do it. I'm I'm very blessed. But modest guy I'm average you know between 15 and 20 million a year probably but that's fantastic for that market.
00:22:11:06 - 00:22:43:12
Unknown
What's the average salesperson? You know average 20 to 30 sides. So yeah, the math, it's changed drastically in the past ten years. But at that wonderful man, I love it. I love it. Tell me about so you guys, you heard his frequency. I just want to make sure everyone gets that. He's direct mailing people, he's emailing people, and he's constantly engaging on social media, airline and see get to do everything.
00:22:43:14 - 00:23:05:03
Unknown
What do you see best? Are you anything on Facebook or are you strictly IG and you do tick tock? Are you doing anything else on social? I do some Facebook, of course. That's, you know, mainly I kind of, you know, cross them, take my Instagram stuff and put it on Facebook. You know, I think those are probably two of the platforms you can get away with that.
00:23:05:05 - 00:23:35:15
Unknown
Very similar. Yeah, you know, I do a little more personal on Facebook and, you know, I don't do as much with my kids and stuff on Instagram because of Facebook, just for somewhat privacy reasons that I have in terms of like what what's working best in terms of getting engagement on social feed, Like what type of content is performing the best short form video of So what's the length of time, what's the subject matter?
00:23:35:15 - 00:24:16:14
Unknown
And all the above real are doing really well. I do a lot of, you know, showing showing the area, showing, you know, new construction neighborhoods, showing the lifestyle. It's all about selling the live. So there's a lot of people moving to the Nashville area from, you know, California, Chicago, that type thing. And a lot of them are coming for, you know, political reasons or financial reasons or, you know, if you showcase that, hey, look, Tennessee, come on, now we shoot guns and fish and it's it's a great ad on your brother.
00:24:16:19 - 00:24:46:21
Unknown
Yeah yeah. I the the post you were talking about on on my IG that shows me shooting guns It's a whole just snapshots of me out in the outdoors and doing that type. I can pinpoint exactly three new clients I've picked up because of that video. Yeah. About now on the flip side of that, first, you may have turned some off too, but guess what?
00:24:46:21 - 00:25:12:02
Unknown
You wouldn't want to work with them anyways. You're absolutely right that, you know, that's kind of the the risk reward that you have to take. And I was very concerned with that on the front end. But then when you start seeing the results and not only the results, but you're attracting people that you enjoy working with. Yeah. You know, we don't agree on everything and that's fine.
00:25:12:02 - 00:25:38:11
Unknown
I don't expect to agree on everything. It's my job to to take care of these people and serve them well no matter what they believe. That's different than me. However, when you do click with somebody that that's similar to you, it makes everything so much easier and more fun. Yeah, I agree. I agree. What else would you tell someone?
00:25:38:11 - 00:25:59:09
Unknown
Because I think here's a big problem is that people I think everyone wants to do what you're saying. You know, like it just makes sense. But I think people it is, you know, like I said it, guys, this is an easy you have to commit to it, but you got to make the time to do it right. And then you know how life gets better.
00:25:59:14 - 00:26:19:23
Unknown
Have kids like that happens right then. Then you fall off track and like, gosh, it I'll get an accident tomorrow. And then I go, I go there. How long did it take you to start getting those results to keep you motivated? Well, you know, basically, first and foremost, find you a couple people in your given market that are successful.
00:26:20:00 - 00:26:51:09
Unknown
Follow them on IG and see what they're doing. You know, whether you're in Chicago or you're, you know, Phenix, wherever you are, find those those people that are producing, get on their pages, see what they're doing. You know, a lot of times I even save, you know, if there's something that looks great, I'll save it. And then when I have some time, I'll go create a whole bunch of content, stick it in the hopper, and then leak it out as I go instead of going, my God, what do I got to do today?
00:26:51:11 - 00:27:14:21
Unknown
And feeling that anxiety of having to get something, or I've got 40 or 50 pieces of content a little way that I can throw out there, you know, and like you say all the time, take something that's long form, break it up in a short form and leak it out there in bits and pieces, because consistency is more important than having something that's incredibly great.
00:27:14:23 - 00:27:26:14
Unknown
You don't have to like you don't have to post at the time you're getting the content either, right? Like you don't have to. Like that's what I think a lot of you. shit, I don't want you to because I'm supposed to write. no, you could just like you could build a library stuff in your phone and hold on to it.
00:27:26:16 - 00:27:55:09
Unknown
And then, you know, when you're sitting in your bed at night and do it when you make all your posts, how are you doing it? I guess in dead time, you know that real I was that we were talking about on on this pandemic profile. Those are some snips of video over the course of probably two years. Yeah they're just I had in my phone and then one day sitting around, you know, got a glass of bourbon and you go, you know, all right, let's put some reels together.
00:27:55:11 - 00:28:18:24
Unknown
You come up with some ideas, put them together, save them in your drafts and Instagram, and when you want to stick them out there, stick them out there. Are you following a certain schedule? Not really a problem started. Yeah. Yeah. Just sort of roll with it. Yeah. I think it's a I think that that helps people a lot if they just like you got to just like cause you don't know I need to do a better job.
00:28:18:24 - 00:28:36:18
Unknown
That actually started doing a lot of that. It took like a year off content. I was pivoting this year and now like back in the content creation mode. So I got all these ideas and shit everywhere, like in my phone, but what it comes down to is you have to get the stuff right, you got to get the content and you got to tell me the difference, though.
00:28:36:18 - 00:29:03:01
Unknown
And here's an important point about the content you're creating, whether it's a tour or whether it's a picture you in it, whether it's a picture or video versus you not in it, what's the difference? I'm in some of mine I'm not in and others, you know, I do some voiceovers as well. I will say one thing that I think is important is to get yourself a logo, you know, get something.
00:29:03:01 - 00:29:25:23
Unknown
If you look at all my stuff, my logo pretty much pops up on everything. You know, Of course, they use the 615 just to kind of, you know, it's catchy. It grabs the eye and it ties and ties it back to me. But I think it's it's a mixed bag of of a lot of different things. As long as it's consistent and it's well done.
00:29:26:00 - 00:29:48:12
Unknown
Does not have to be perfect, just has to be consistent. It has to show your your your true self, be authentic and show the mistakes as well. I had I've had a lot of engagement from you know, I like to tell stories of things that I totally screwed up. Yeah. Vulnerable. Totally. And you own it if you own it.
00:29:48:12 - 00:30:09:10
Unknown
People are forgiving. Yeah, I've bought a couple refrigerators before, but yeah, but the people are scared and when they make a mistake. But it's honestly the most human thing you could do at any my volunteer poster, I was my most engaged. And I think a matter of fact, I think I made a vulnerable post on Instagram. I think that's when you probably reached out to me, if I'm not mistaken.
00:30:09:12 - 00:30:24:14
Unknown
What was one was that I think it was something about I was telling a story about a hard time I went through or something, and I think that that might have been the post you actually reached out on. Now we're on the show together, but that's like a perfect example of like what we're talking about here. I forgot about that.
00:30:24:16 - 00:30:44:06
Unknown
But yeah, that's what we're talking about, me and my stuff. If it was boring, same old stuff. You're different. That's why. That's why you stick out. So this is awesome, dude. You guys don't overthink this process. Nick's nailing it like you just got to stay from the people, you know, in your way. You don't have to tell them you're in real estate.
00:30:44:06 - 00:31:00:21
Unknown
You got to remind them, like, he's really just a tour guide. Like you're talking about the community because like anything you show in the community reminds everyone you in real say otherwise. Like, why are you doing the students? You have no life. You're doing it for business, but you're not doing it in a sleazy way. You're doing it in a value added way, and that's why people are responding to it.
00:31:00:23 - 00:31:27:21
Unknown
Good job, man. Well done. Appreciate it. Any final tips you want to give to anyone who's thinking about building a brand, creating content and doing what you're doing in the 615 just do it. Stop being scared. That's what a social media is. Nobody's perfect as long as you do it consistently and authentically, you will see results, I promise you.
00:31:27:23 - 00:31:51:15
Unknown
Like you say all the time, stop being afraid of that little six inch device You have just, you know, use the technology we got though, yourself out there and you will benefit from it. I approve this message and we approve you listening to another episode of the Real Estate Marketing Do podcast. Folks, we appreciate it, if you like.
00:31:51:15 - 00:32:06:14
Unknown
We saw today. I mean, Nick, I want to talk about you becoming our spokesperson or something for referral suite because that is exactly what referral suite is for. Also, he gives you the direct mail to automate your database to video email content to send to your database, and the video email system itself and its social media monthly schedule.
00:32:06:15 - 00:32:26:12
Unknown
So you have to worry about what to say. You have to sort of re do it your way, visit it, and we'll be ready to launch that thing in the next month or so. So I appreciate you guys check that out. Referral Suite W, S.W.A.T. Referral Suite dot com and hope you become a member. Appreciate guys listen to their episode dude.
00:32:26:12 - 00:32:41:12
Unknown
Appreciate you, man. That was awesome. Thank you brother. That was cool. And I want keep being unapologetically you. That's the way it is and it's the way the future and you, the listener. You should not be scared. Go for it. See you guys next week. But.
00:32:41:12 - 00:32:59:12
Unknown
Thank you for watching another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is. Visit our website at WW Dot Real Estate Marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site.
00:32:59:17 - 00:33:24:18
Unknown
Download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
You Don't Have Systems, You Don't Have a Business (ft. Caroline Hobbs)
3 feb· Real Estate Marketing Dude
If you're running a business then you need a system in place. You probably need a dozen systems in place. Technology is making it easier than ever, and today we are looking at how your systems can serve your business.
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Transcript:
What's up? Ladies and gentlemen, welcome to the episode of the Real Estate Marketing Dude podcast. Folks, we have quite the reward for you today. No pun intended, Caroline, but what we're going to be chat about, folks, you guys are all running around and your heads cut off. This is the time that you have to go back and like, run your business like a business.
00:03:34:13 - 00:03:54:07
Unknown
No business exists without systems in place. If you don't have systems in place, you're not running a business. You're just another salesperson with their fucking head cut off and you're running around making sense of nothing. Folks, if you want to right now is the time that while the market sort of changed and revamped, this is when you actually focus on those systems.
00:03:54:07 - 00:04:10:07
Unknown
But everyone always asks me, Mike, what's a system? What's a system? What's a system? A system is something you repeat in your business with each and every client, each and every month, just like McDonald's makes their burgers. The reason why they taste the same no matter what fucking McDonald's you go to is because they have a system to how they make their food.
00:04:10:11 - 00:04:28:11
Unknown
That's what defines their business. Unfortunately, real estate agents don't have enough systems in their business and that's why the service doesn't stick with anyone. And while 90% of the people forget what you do for a living, because when you're working with them, there's nothing you're doing to make them say, Wow, that person is a shit. So what we're going to do is bring on the coaching, the systems.
00:04:28:11 - 00:04:44:21
Unknown
I just met her a couple of minutes ago. She's pretty damn impressive. She's got like a system for everything. And I told her, I don't want to know any more. I just want a hit record and I want you to tell us the systems that you implement with your agents in your office that has them all so productive.
00:04:44:23 - 00:05:04:11
Unknown
What is it you're doing? Because while everyone else is sort of floundering in the water and treading water right now, you're crushing it. And it's not because of like you got lucky, it's because you got your shit together and you have systems and people are returning to those systems despite market conditions. So I think I'm to call the show something about systems.
00:05:04:11 - 00:05:20:14
Unknown
But without further ado, let's go ahead and introduce our guest, Miss Caroline Hobbs. How are you, Caroline? Great, great. Thanks for having me. Well, so listen, there's a little bit who you are. Where are you from and what the hell are we going to talk about today? Yeah. So my name is Caroline Hobbs. I am here in Silicon Valley.
00:05:20:14 - 00:05:50:09
Unknown
San Jose, California, and I've been selling homes for about 15 years now. And I started Word Realty on April will be 11 years. So we've got someone Giovani, we've learned a lot. And all this time and I've really learned about all the benefits of technology and leveraging systems to automate tasks so that you can provide a highly higher level of customer experience for each and every single one of your clients.
00:05:50:11 - 00:06:08:21
Unknown
Thank you. No one talks about the experience for customers at all. Like, you got it. Nobody talks about it. Like if people aren't saying wow about working with you, like you don't have a business, you guys and you won't have a business. So I want to start to beginning with you. You have a brokerage. How many do you run your brokerage like a team, or do you guys run it like a brokerage?
00:06:08:21 - 00:06:28:02
Unknown
And is everyone sort of on the same system that's within your office? And most people within the brokerage are on my team. I do have some individual agents. But that being said, we do kind of run it as more of a team. And, you know, my whole goal in starting the brokerage was to create something that was really agent friendly.
00:06:28:02 - 00:07:00:12
Unknown
I felt like a lot of the large corporate brokerages didn't really offer opportunity to lean into your own, like individual superpowers and create a lot of self-expression or, you know, differentiate your business from other people. They want you to be the company person and just copy, paste, repeat, copy, paste, repeat with every single one of their agents. And the fact of the matter is, is relationship is a really a real estate is a relationship business.
00:07:00:14 - 00:07:30:13
Unknown
So if you are not in the business of making friends and meeting people and being able to communicate with people, then you're in the wrong field. Agreed. So let's get into the systems because I don't think anyone has them. Let's start with just in general, like for individual agents out there. I have a question for you first shoot, How many times have you built systems and torn down again?
00:07:30:15 - 00:07:47:17
Unknown
Well, every day. I mean, that's basically what I always do. I always just perfect the system. It's never done. It's always fucking working. I'm literally building three or four different systems right now for our video clients so that they can have a better client experience. It never stops. The day you stop as the day you get beat by your competitor is what I believe.
00:07:47:17 - 00:08:14:09
Unknown
So I don't think you can't stop. I 100% agree. There's always new technologies. There's always new things out there that can help improve your current workflow. So I think that that's one of the areas that a lot of people struggle with is they think, okay, I'm going to spend January focusing on building my systems for the year and then and then the rest of the year, they don't pay attention to what they're doing.
00:08:14:11 - 00:08:40:18
Unknown
They don't even think twice about what their systems are. And to me, that's kind of how you get left behind. That's the first step of needing to burn things down again is when you become complacent in an area. And so for me and my team and with all of my agents, one of the things I tell them is if you're doing anything twice, if you're putting the information into the database more than twice, you're being inefficient.
00:08:40:20 - 00:09:08:16
Unknown
And so let's figure out how we kind of Roto-Rooter it, so to speak, to create a more automated process because we're all human and we all have lives. We are working because we enjoy the field that we're in. And this is where we have found some passion to spend a lot of our time and build our careers. But we're not doing this for fun.
00:09:08:18 - 00:09:51:19
Unknown
And, you know, we are all business people. And I think that with real estate, because of the social side of it, people forget that. And so, for example, you know, making sure that each and every experience from the time that the lead comes into your database to the language that you're using to reach out to them, whether it's a video, a text message, just a plain email with with script, each and every route that you like, each method of communication is going to leave a different taste in the Perkins mouth and really, what you're doing when you're communicating with new leads as they come in is you're introducing yourself.
00:09:51:21 - 00:10:15:13
Unknown
So that's where we start is when you're looking at building systems. You want to start with your action plans and your action items from the time that it comes into your database, defining them for who they are, what their interests are, how you can help them. Because at the end of the day, they didn't give you your contact, their contact information for you to harass them on things that they're not interested in.
00:10:15:15 - 00:10:35:01
Unknown
It needs to be an even exchange of information, and they need to see the value that you bring to the table if you want the relationship to progress. So right here and so we're talking about lead system here. And basically here's here's what most people do. They don't want they don't have a system, so they get a lead and then they'll just follow up via maybe phone.
00:10:35:01 - 00:10:53:02
Unknown
They might send a tax. You might do that for two or three days in a row, but then all sudden just you just forget. And this is what we're talking about. There's no system. So it's got to be like literally every lead has the same experience. That's what you're saying here, right? Exactly. Exactly. So, you know, not every lead is going to pick it up.
00:10:53:04 - 00:11:19:18
Unknown
Even when they were just on the computer or on their cell phones making the requests. Not everyone's going to pick out like say that you are be, you know, type agent lead comes in, you call them within a couple of minutes. So you get that higher, you know, client retention and they don't pick up. So, you know, maybe they put a bad email down there about phone number is that it?
00:11:19:19 - 00:11:54:03
Unknown
Like, what else can we do? Because at the end of the day, you know, if you're a team leader or not a team leader, just an agent purchasing leads from a marketing company or whatever, knowing your numbers, understanding your CPU, your clock cost per click, the return that you're having on that is really, really important. And the reason why it's important is obviously we want to know what's what marketing sources are working for us and helping us build our business or what is not.
00:11:54:05 - 00:12:18:22
Unknown
And so the only way that you're going to be able to do that is using the damn system and following up with your leads. Talk to them. Like I said, you didn't get into this business just for fun, to make friends. You you got into the business to make money. And so you need to make sure that you're communicating with people in a way that they understand, in a way that they can catch on.
00:12:18:24 - 00:12:50:16
Unknown
And so personal touches, like from requests going out, you know, following up three on a 360 level with market reports instead of just just checking up, I swear to God in be time, I get an email that's like just following up with you. I literally I immediately do it. And what should that's a good a just speaking of that, what should that context be when somebody wants to check it, Hey, you ready in the car to start looking so I can make a commission check?
00:12:50:18 - 00:13:13:19
Unknown
How do you say that? I send him a property. What do you think of this? How did you see that? This one just came by the market. no. And then you find out their intentions as well, you know, and give them something of value. Like don't just waste their time. And I think one of the other things as an author has been was Phil Jones.
00:13:13:21 - 00:13:35:14
Unknown
And one of the things that he does really well, we we refer to his book as the Bible in our office. And the reason is, is he really helps you frame the mindset of not asking yes or no questions because at the end of the day, how easy is it to say to brush someone off and is like, yeah, yeah, and you don't even know what they said?
00:13:35:16 - 00:14:03:13
Unknown
Yep, They don't remember either. No, no, they literally have no clue. You left zero impression, but you say, What's your experience in selling a home than you understand? Have they ever sold a home before? Have they ever gone through the process? How deep does this conversation need to dive in order for me to build that rapport? Because at the end of the day, people work with people that they know to like and trust.
00:14:03:15 - 00:14:16:24
Unknown
Walk me through walk me through your actual I want to I want to go. I want to live in your world. I want to go. And I'm a lead. I just entered into my information and came to whatever lead source on your system. Walk me through what happens next, because it sounds like every one of your agents are on the same thing.
00:14:17:01 - 00:14:31:18
Unknown
And it's the consistency and the conformity that creates the results. Right? If everyone was doing something different, you'd never be able to measure, would you? Then you would it be able to make those adjustments that you talked about earlier and then you can. Right. It just doesn't work. So walk me through this because I think this is good.
00:14:31:18 - 00:14:51:02
Unknown
I want people let's define what your system is from a new lead and I'll ask from there. So newly comes into your world. Hey, Caroline Re World Realty. I might be buying or selling. I don't know. I just came in looking to see my home's value worth. What happens to me next? Depending on the lead, if it's a direct connection or not, that kind of changes it.
00:14:51:02 - 00:15:09:12
Unknown
It also every single new lead gets immediately set up onto a drip system. If it's the seller B they get on the property valuation monthly email immediately. So right off the bat three Choose your own adventure is going to happen. A bond, a lead one. Was it a referral? It's a referral. It goes into a system. Referral system.
00:15:09:12 - 00:15:27:11
Unknown
It's probably more personalized, right? If it's cold, it's an okay, great. You're either buyer or seller. If it's a buyer lead, they're going to go into the buyer system slash strips of some of that. And if the seller leads a seller slash drip system. So make sure you guys are following this. You can't talk to everyone the same way they under your world.
00:15:27:11 - 00:15:45:09
Unknown
That's where most people fuck up. If someone comes into my world talking about selling a house and I'm telling them about buying a house, like we're not speaking the same language, it's a little bit of a you got to speak their love language, right? And same thing is, if it's a referral, like I'm not going to talk to them like I'm going to when I get a referral, I do them or I borrow them.
00:15:45:09 - 00:16:00:09
Unknown
That's my style. That's my brand, right? And it's just the way I am. But if it's not a referral, I'm not going to borrow or do someone I've never met before. That little touch is a system, is what we're talking about, you guys. And you can't run a business without it. Okay? I like that. All right. So walk me through that.
00:16:00:09 - 00:16:29:06
Unknown
Now, we actually break our clients down quite a bit further than that. So for us, they're not just buyer or seller referral. There's buyers, there are sellers, they're buyers and sellers, there are investors, there are renters. We bought Zillow leads before you have a plethora of renter leads, you know, doubt and save on because renters are future buyers.
00:16:29:08 - 00:16:58:03
Unknown
There's no it's not a garbage lead just because they weren't ready to buy a house right now. And they just need to be communicated with differently. And then there's your sphere. Those are your friends. That's the other parents in your kids classrooms. Those are people involved in your nonprofit, at your church, wherever. And so depending on the level of harassment that I want to spend on each group is kind of how we dictate it.
00:16:58:03 - 00:17:19:07
Unknown
So for like our investors, the email sequence that they get signed up on once they're marked as an investor, after we talk to the client, we haven't talked to the client. Everybody comes in and gets a general kind of like a buyer nurturer, Come talk to me, schedule a consultation with a link to my calendar and things like that.
00:17:19:09 - 00:17:48:13
Unknown
And but for the rest, it's very targeted. So for investors, we're talking about 1031 exchanges. The DST is we're talking about short term versus long term rentals. We're talking about maximizing your return on your investment. We're not talking about the granite countertops and the stainless steel appliances and the square footage. I mean, you know, I hope that if they're investing in real estate that they understand value adding, value adding aspects of the home.
00:17:48:15 - 00:18:15:19
Unknown
But crazy. Yeah. So we're focused on speaking their language. What what are investors interested in? They're interested in making more money. Same with sellers. When you talk about curb appeal, we talk about cleaning services, we talk about living in storage services and these also offer open up our opportunities to create relationships within your community, which can then boost your referral network.
00:18:15:21 - 00:18:44:04
Unknown
You can even do cross marketing, and I've seen agents do affiliate marketing with them as well, where they'll get a kickback as long as the relationship is disclosed to the clients ahead of time. On a person that's like ancillary services. The Futures Commission compression occurs and if you're not trying to make money off of solar and getting your MLS license as a mortgage broker right now and making a point five basis point on that and you're not trying to charge up the movers to renters and everybody, every other ancillary service you're missing the thing.
00:18:44:04 - 00:19:05:11
Unknown
But that's a whole nother podcast question What percent of your business is coming from warm versus cold like sources? And it sounds like you're like it sounds like you've created these systems and now your agents are utilizing them right? But where are you guys generating how much of it comes from like lead generation as opposed to marketing and warm?
00:19:05:13 - 00:19:35:07
Unknown
So how much is non referral and repeat business as opposed to new leads? And then I want to go into your customer service systems next. Those are great questions. I think that it's really dependent kind of also where you are in your career. So years and years and years, about 80% of my business was referral and I'm still closing 20 plus transactions a year and 80% of my business was referral.
00:19:35:09 - 00:20:05:18
Unknown
I still have a lot of referrals coming in through and I still close generally and to be referrals per year. However, because stepping up our game with our marketing, it doesn't equate to 80%. It's probably closer to like 40% now, you know, So it's it's not that we changed anything or we had a depletion in our number of referrals.
00:20:05:18 - 00:20:38:17
Unknown
It's more of the fact that you're scaling now we're growing, you're feeding what you're feeding. Yeah. And as a team leader, I mean, we have 14 agents at the brokerage and so typically when I get referrals, I really, really, really try to, to service them personally and to do as much as I can. I have a partner that helps me with that just so that way I can we can still be attentive and everything at the same time.
00:20:38:19 - 00:21:00:07
Unknown
But making sure and I check in with every single agent, I say, Show me your active client list, like I want to see it written down. I want you to I want to be able to point at somebody and you can tell me exactly what's going on when the last time you talked to owners and why they're not in contract yet and go from there.
00:21:00:09 - 00:21:21:10
Unknown
So I think when you're building systems, you know, something to keep into mind is like I've tossed around the word harassment. So a lot of people just think like, okay, I'm going to get their email address, I'm just going to send them emails every couple of days until they respond to me, and then maybe they'll work with me.
00:21:21:12 - 00:21:44:05
Unknown
I don't know about you, but that has literally never worked. But my kid sits there and taps off at me to get me to do something. It just makes me angry and not want to do that. And I have the same reaction. So all of our sequences from the time you come into our database, the actual sequences are only seven emails long, which lasts about three and a half weeks.
00:21:44:07 - 00:22:08:21
Unknown
It's exactly those two. Yeah. And that's if you're not going to talk to me after a month, no harm done. But then you're going to move to a cadence of like every three weeks or four weeks you'll get a single email. Yep. And I'll stay top of mind because timing is everything in real estate. And I can't tell you, you know, how many times it's just right place, right time.
00:22:08:23 - 00:22:31:18
Unknown
You mention the fact that your real name 90% of the time. Exactly. This morning I have an electrician at my house right now installing a EV charger thing and sitting there talking to him. He goes, well, you know, commercial slowed. I got. And I go, well, the real estate markets on fire right now. We have no inventory. And he goes, Why move over here?
00:22:31:18 - 00:22:51:16
Unknown
And I go, That's a gray area. Those homes are great. There's a lot of construction going on in there. Yeah, we need to talk, is what he says next. Yeah. And it's yeah, that's been 10 to 1 in ten. One in 15 people are moving this year. You have to talk now. I saw like I saw this stat actually I'm doing a video, I don't hang up with you.
00:22:51:18 - 00:23:08:17
Unknown
And 49% of the market only did one or less transactions last year. I'm like, my God. Everyone's like, Wow, that's pathetic. I'm like, No, that's an opportunity. Yeah. Because like, that just shows you 50% of the agents are only doing one. Next question Becoming agents are only doing three a year, you know, And it's just like, my God.
00:23:08:17 - 00:23:28:09
Unknown
So you really can. You can, but there isn't a lot of yes, there's millions of agents. But if you actually look at what the true competition is, it's not that much. And every single time you could look at every single one of the agents that are like doing the top five or top 10%. And the one thing that they all have in common is they all have systems like the conversation we're having right now is not French to them.
00:23:28:11 - 00:23:49:19
Unknown
They're probably jumping in and adding in some here, here's what I'm doing in my in my systems and why not? Okay. So lead generation systems are one thing, but that's not the only type of system, right? We can have all kinds of systems. Let's segment into here's a question that no agent can ever answer for me. And here it is like it's crazy.
00:23:49:20 - 00:24:10:13
Unknown
Like, no one can ever answer this question. And I'm like, how the hell can if you can't answer this question, how do you have a business? And the question is, is what the fuck do you do differently than your competition? No one could ever literally ask me the question. Generally, the answer goes somewhere along the lines like this and says, Well, I'm going to, I'm going to get them the best damn deal and like I possibly can, and I'm gonna do the best job where I'm like, You have a fiduciary duty that is part of your responsibility.
00:24:10:13 - 00:24:26:00
Unknown
It's not a value added proposition. What is it that you do that people remember that make them say, Wow, how do you wild people? So I have a couple things I'll say, and I want to see what you do on your systems. When I first started, I knew that I had to wow people. My goal with every client wasn't to solve the fucking house.
00:24:26:01 - 00:24:41:21
Unknown
I was the third goal. The first goal was to generate one referral from them while I'm selling the house. The second goal was to then please them, so they return to me for repeat business and turn into a walking billboard for me. And then the third goal was until we eventually sold them a house in that order. The only way I accomplished goal number one.
00:24:41:21 - 00:25:05:10
Unknown
Goal number two was through systems that I had in the business to wow them. So I'll give you guys the example of some systems that I would have. And this is how simple a system can be when I would meet with a buyer or seller for a presentation, I would legally bribe them with a brownie gift. I would make sure the brownie would show up before I showed up to the listing or buyers presentation so that I already had something of value I gave to them every single time.
00:25:05:12 - 00:25:21:03
Unknown
The legal bribe work. That's just a system. So the system was, Hey, you want to meet with me? Okay, great. I know it takes 24 hours for the brownie to show up at your door. I'm going to schedule my appointment face to face in 36 hours. Okay. That's a system, You guys. Also, when I get hired, I would send out a little letter with a $10 gift card.
00:25:21:03 - 00:25:43:03
Unknown
Hey, I really look forward to working with you, So I want to get you a coffee. I appreciate the opportunity. It was just a nice touch point just to say, Hey, thanks for working with me just to show that I care. When they went under contract, they got a mortgage contingency. I would buy him a gift. The second the contingency was lifted, I would buy a $100 gift card in there, soon to be old or new neighborhood, and then I would wow them with a crazy closing gift.
00:25:43:03 - 00:26:03:10
Unknown
And not a gift card, not a bottle wine, something they had to fucking put on their on their wall. That was a billboard in their house, like a bonsai tree, like a signed autograph of a Chicago Blackhawks player that they loved. Right. Because I'm in it for the long game. So these are little systems that every client had because all I was after was not the closing for that client.
00:26:03:10 - 00:26:24:04
Unknown
I was after the next transaction. Yeah, that's leverage. So if you don't have systems in your customer service that while people it's also very difficult to build a referral based business or a repeat business. So what is it? What kind of things do you advise agents to do when it comes to working with buyers or sellers? Because quite frankly, a lot of people don't have anything in place.
00:26:24:04 - 00:26:48:18
Unknown
It's just sort of like a there's not really an experience at all. That's fine. So first of all, clients are looking for one thing do what you say you're going to do. So from the time you first make a, you know, have a conversation with them, tell them that you're going to do something and then do it and say, as promised, here is the information.
00:26:48:18 - 00:27:15:01
Unknown
I told you that I was going to send you. As promised, Here is that report. So show that you're trustworthy, number one, that sets you apart immediately, because most people go into a meeting with a realtor feeling very uneasy and not super willing to, you know, trust them. So create that report. No, nobody's hunky dory about going to a meeting with a realtor.
00:27:15:03 - 00:27:40:20
Unknown
No, no. Literally no one like you. I do something similar prior to my listing appointments. I actually use Uber to deliver a package to the house and a cute little box that I had printed out. That's way better. What do you send them? And you will see? Yeah. So she's only name a gift like that. That gift is like so powerful.
00:27:40:20 - 00:28:09:10
Unknown
It's not even the cost of it. It's the fact that some physical arrives to it and it never fails. It's the icebreaker. It's what always leads a conversation. All right, so she's pulling up this box if you guys are watching this on video. So what am I looking at here? It says, I'm not sure if it's for you, but if you're thinking about making a move, if you want to take a look at what we prepared for you, it says inside you'll find your home equity report, our dynamic marketing, and it's invaluable resources to help you with planning your next move.
00:28:09:12 - 00:28:31:03
Unknown
So it's like, okay, yeah, it opens up and it shows our process on one side, it shows the home buying process on the other. And then there's just a little note inside with the QR code, with my contact information, and it goes to a digital business card and that's down to you and that's buyer's console. Yeah. Okay.
00:28:31:03 - 00:28:48:00
Unknown
So the sellers specific I mean, let me unpack this or people that just listen on audio, which she just showed me, she basically created a clumpy male buyers and sellers presentation that she sends to them ahead of time. So almost like a great pre listing package to send out. It's not and it looks like it's all color coded.
00:28:48:00 - 00:29:08:17
Unknown
It's it's pretty looking and it's not that like people are even they probably don't remember anything that goes on in it. What they remember is a fact. You sent them a box. Well, I throw some pens in there, I throw some branded mints in there, I throw a couple of brochures and they're a selling brochure. I sell send, put some resources for moving and storage.
00:29:08:17 - 00:29:27:06
Unknown
And there so So when you show up, what's the first thing they say. Yeah. You already hired. What's the first thing they say when you show up in the boxes already sit on the table for them When you're there, it is always sitting right there. Yeah, I figure. And they're like, This was amazing. Like, we've got a chance to review this.
00:29:27:08 - 00:29:56:12
Unknown
It answered a lot of our questions. We want to show you the house, where do we sign that stuff? So, you know, one thing that any realtor listening to this, if you take away nothing else, the biggest game changer in my career with winning listings every single time was quit leaving gray areas on the table. So what I do at every single listing, when I sit down with the seller, I say, okay, this is what we're going to do.
00:29:56:16 - 00:30:10:06
Unknown
We're going to have it on the market by this date. And then I reverse engineering, which means that we need to have staging invited to this date, which means my stager needs to come the week prior to take a tour of the home. We're going to set inspections that they're going to happen either to stay or this day.
00:30:10:08 - 00:30:30:00
Unknown
Then we're going to have the cleaning crew and they're going to do this. If there's any repairs that's going to go on during these days. And so they already know that I have every single detail covered to make sure that their home is totally ready when we're ready to hit the market. So you remind me of my friend Lawrence Shue in Chicago.
00:30:30:00 - 00:30:52:24
Unknown
You guys are like spitting images of each other like crazy. Unbelievable. It's great. You're right like that. And how much does that cost you? These? Yeah, You pay a couple bucks a box, so a couple of bucks a box. But it also costs are the time of ordering it kind of Uber or making sure it gets delivered and all of that.
00:30:53:01 - 00:31:19:21
Unknown
Now, I don't know what your mindset is there for you, but I'm going to guess is that you're bribing your your listing client to ensure the fucking listing so you're not scared to spend the $5 or the 20 minutes it takes to order it. Are you? Yeah. No, it's. I want to show them I'm a professional and I want to show them that I'm not just I didn't just have my assistant print out comps before I came in and handed them to me so I can hand into them and call it a day.
00:31:19:23 - 00:31:53:22
Unknown
I'm also showing them that it's not just a blanket presentation that I get to everybody. Yes, there's things in there that are used for every seller and things like that, but a lot. There's also a lot of custom materials to their individual property in there as well. Do you remember the last listing presentation you lost? No, I knew she was going to say that, but now I find that maybe I'm just one of those people.
00:31:53:22 - 00:32:32:04
Unknown
I when you're talking to me, you can tell if I'm confused or angry or sad. I wear my heart on my sleeve. And so to me it's eliminate all the gray areas because that's when everybody gets all agency and distrust comes and everything like that. You had it be two steps ahead of the game. I will tell you, in my professional life, the moment that I had the realization that today today's tasks were preparing me for tomorrow's duties, the moment that mind shift happened, I was no longer scrambling.
00:32:32:06 - 00:33:00:13
Unknown
I was showing up prepared, ready, and, you know, able to conquer whatever came my way. What other little. Yeah. And like, you could answer the question, what's the difference between you and me? Like, you're demonstrating it as we speak, you guys. So, like, don't you know how many I used to? Literally, this is before MapQuest came out when I first became real age was 22, right?
00:33:00:13 - 00:33:16:05
Unknown
We didn't have fucking MapQuest. I literally had to learn. I would literally drive the streets because I didn't know how to get myself around Chicago. So I would I would pre drive the streets just so I didn't look like an idiot when I had the clients in the car with me because I had no clue where I was going.
00:33:16:07 - 00:33:31:01
Unknown
And literally I would have to print out it was called MapQuest. I dunno if you remember that, but that bus instruction, I did have to print it out and you'd go there. But then I remember one other thing I did early on was I didn't understand numbers. So the I'm a loss in Chicago, at least at the time.
00:33:31:01 - 00:33:56:01
Unknown
I think they still have it, but they had this really cool, like simple to understand mortgage calculator that I would calculate the total monthly payment per house reflective of the taxes and the specifically for that house. And people really appreciated that because it was different per property we visited. So but it was literally because I was 22 years old, I knew I had to fucking wow them because I was like, dude, I wouldn't buy a house for me.
00:33:56:01 - 00:34:14:23
Unknown
Like real realistically, I know what I'm doing. I want to buy Are you using me to buy a house? So I knew I had to compensate with customer service, I'd at least appear smarter than I was at the time, which is why I put together all these things ahead of time. But the preparation early on, just to show houses was like an hour down.
00:34:14:23 - 00:34:32:16
Unknown
And it turns out in my career I was like, Dude, whatever. I just showed up at shows. I already knew everything. But the point was, is that I was playing the game to prepare and prepare for the experience that the clients would have because it just and it didn't fail. Like it's I don't know why this is so hard to understand for people, though.
00:34:32:16 - 00:34:48:13
Unknown
That's probably, I think, my most frustrating part in the real estate industry. I'm sure you know, the reason why you probably don't have 300 agents is because you can't find the other 97 or so that will understand your process and why you're doing it. I see that in the business all the time. Like they just don't get it.
00:34:48:13 - 00:35:05:01
Unknown
Like, folks, you're an entrepreneur. You're not running this damn business as you're not working a job, right? And nobody you might be in a good office like Reward Realty Will. They'll have all of the systems set up for you and will allow you to go out and, you know, succeed. But that's why four out of five agents fail.
00:35:05:03 - 00:35:47:14
Unknown
They don't have the shit set up. They don't have systems. You cannot build a business without systems, period. What else do you want to say about systems? Anything else? And there's customer service systems. There's lead generation systems. What else have we missed that you want to talk or touch on? I mean, consistency is key. I think that in marketing your business and my number one, because I track my profitability and I track my numbers and how much I'm putting in each month, each of the different avenues that we're using for marketing every single month.
00:35:47:20 - 00:36:20:23
Unknown
My, my, I think I'm at like 37 X, but it is these plastic postcards sending send out and and who is that go to your A farm or your database and it goes actually to so sorry because I like database farming I love it's not to my database it actually goes to non owner occupied properties within the county.
00:36:21:00 - 00:36:56:08
Unknown
Okay absentee owners like it. Yeah I send out 7500 a month and I probably get 5 to 10 listing calls each and every month from it. And it's definitely has the highest relied of like anything else I've tried. But the thing I noticed about it and like the point I want to make is because I do do a lot of marketing around my listings, we send out five pieces of mail for every single buyer sale and seller sale that we transact in, letting them know, giving them updates on the status of the sale, home valuations, introduction letters, things like that.
00:36:56:10 - 00:37:26:04
Unknown
Sure. Last year going into 2024, 2023, I had 11 listing agreements signed for Q1 of that year. This year I had like two and it was because I stopped doing my classic postcard for meeting regularly. I got busy and I was seeing other areas pick up and I was exploring other avenues to bring in business as well. And I learned you were being a squirrel.
00:37:26:06 - 00:37:45:11
Unknown
I know I, know it was so silly. So like in December as I was working on my business plan and I'm pulling up the budgets and everything for this next year, really planning ahead, I knew that I had to get back on track. So it's it's it's easy. It's easy to fall off and like lose track of one day.
00:37:45:13 - 00:38:08:10
Unknown
We have to wear a lot hats in real estate. So nobody's saying that it's easy. Take one chunk, focus on it, complete it, and then go to the next one. The well said. Because you're right, that happens with video a lot, you know, And when we we'd be like, I like there's a couple of people who should I blew you guys up.
00:38:08:10 - 00:38:21:15
Unknown
I'm not going to lie. All right. But you got so complaints that I call you up by names, but you know, you are if you're listening to show, you know, you are 12 months and then they're black, it's huge. Like also it's night and day from a 12 month. But I'm not going to do video anymore. But I'm good.
00:38:21:15 - 00:38:40:00
Unknown
I'm good, I'm good. That's what happens. It happens to me in a lot of ways. We get complacent off of a lead source that was working, but then you're like, yeah, maybe I don't need to do that anymore because this ego thing is real. Like it's legit. Like you could get an ego so fast in this business and it is the number one most detrimental thing.
00:38:40:00 - 00:38:58:22
Unknown
And even the best agents, their ego will still get the best of them. Sometimes it's like what Caroline just said. She you have to have that vulnerability with yourself and realize when you make mistakes and fucking own them like you just did. Appreciate and applaud that. It's fantastic. But you know your numbers to see review. Yeah. With someone else, which is something that a lot of people don't do either.
00:38:58:24 - 00:39:19:07
Unknown
Yeah. If you're not like I said, if you're not tracking your business and you're your ally and your expenses and things like that, you don't have a business, you have a hobby, you have a hobby that's very expensive. And I really encourage you to look into something more profitable. Yeah, start collecting stamps or something. I mean, yeah, baseball cards.
00:39:19:09 - 00:39:39:17
Unknown
Okay. But I know I'm curious. People want to know your plastic postcard. Before I do, let you go. Plastic postcard. You're sending it to absentee owners so people don't live in a house. Do you have any other data fields that you're filtering over? That is their missed payment and there is or high equity. What other fields is it just absentee owners?
00:39:39:17 - 00:39:59:00
Unknown
Are you layering that data on top of it? Well, I have done it with homeowners and things like that. And we're like filters, age and, you know, life events and things like that in the past. I think it really depends on the market that you're in and where you're at. So right now here in the Bay Area, people have a lot of money.
00:39:59:00 - 00:40:23:00
Unknown
They've been sitting on not wanting to move up and not really sure if they are going to move up or and kind of slow down on the purchase of an investment properties within the Bay Area unless they're like fix and flips. So for a lot of the calls that I have experienced the last couple of months, these are people that own four or five properties that are rental properties locally with cash.
00:40:23:02 - 00:40:50:17
Unknown
But because the taxes in California and you know, prices are as high as they are, they're like, all right, well, let's take our return from this. We've already made a lot of money reinvested out of state. And so that's why I have a network of agents that I work with throughout the country. And so I'm always connecting with people in different major metropolitan areas with investment opportunities that I can share with my clients and and not.
00:40:50:20 - 00:41:08:10
Unknown
And that's one of the things also that we're doing with our investor DRIP is starting to put in investment opportunities. So we'll go with got services that are selling their investment properties. We can send that out as a blast to, you know, this is already rented to tenants. Here's the return here. The numbers. Are you interested in that?
00:41:08:12 - 00:41:34:23
Unknown
And it also helps her sellers as these types of properties make the decision on whether they want to go to market or whether to go sell to another investor and have a little bit more flexibility over the 1031 exchange. So definitely more options. And I think just making sure that you're well versed in all of these different categories and identify your perfect client, like who do you want to work with?
00:41:34:23 - 00:41:51:18
Unknown
Do you want to work with 55 and older? Do you want to work with first time homebuyers? Do you want to work with investors leaning to that? Create a plan to reach that group of people. Don't get too distracted on the sidelines by all these other people. Focus on the type of person that you want to work it at.
00:41:51:19 - 00:42:17:15
Unknown
Make your content around that type of client. Give them, you know, make your emails and everything, appeal to that type of client and you know, your vibe attracts are trying to agree to great. You want you tell everybody if you guys have any referrals for Bay Area, why don't you tell them where they can reach you or they want to learn more about what you're doing or follow you on social or not.
00:42:17:17 - 00:42:43:05
Unknown
Caroline Hobbs Ari on Instagram and our website is Reward Realty dot org and you can also reach me by email at Caroline at Reward Realty dot org. Thank you. Caroline. That was awesome. And thank you folks for listening. Another episode of the Real Estate Market and old podcast. Folks, if you like what you're seeing here and you want a system to stay in front of your database so they stop forgetting who the hell you are, and more importantly, start sending either friends or family and come to you to repeat business.
00:42:43:05 - 00:43:00:10
Unknown
You need to get referral suite that's WW dot referral suite like popsicle as wect dot com. We help you with your social media content each month. Automate your direct mail to your database and we help you with your video email content. We give you everything. I got to shoot a video and send it out. It's very simple. Stop chasing a bunch of strangers.
00:43:00:10 - 00:43:22:23
Unknown
Start farming your relationships, nurturing them, stay in front of them and become more referral and you will start attracting business. Appreciate you guys. See you guys next week. Please. Thank you for watching. Another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit website at WW dot real estate marketing dude dot com.
00:43:23:01 - 00:43:38:16
Unknown
We make branding and video content creation simple and do everything for you. So if you have any additional questions, the site download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Should A Realtor Or A Lender Start A Podcast (ft. Trevor Oldham)
27 jan· Real Estate Marketing Dude
Chances are you listen to podcasts if you're reading this. Chances are you might have considered hosting one of your own. But here is the million dollar question; is it worth the time and money and how will it help your business? Today we are talking about that with Trevor Oldham, founder of PodcastYou.com.
Resource
Check Out Trevor's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
What's up? Ladies and gentlemen, welcome to The Wrap. So the Real Estate Marketing Dude podcast, folks, welcome back. We're going to be chatting about today is a different form of content creation is actually the type of content you're listening to right now. Why the hell that 1.5 million are You guys decide to follow me? I have no damn idea, but I'm glad you did because this podcast has been one of the largest sources of my personal business.
00:04:40:16 - 00:05:06:05
Unknown
I can tell you guys that without a doubt. You know, when I was I'm not doing video services for real estate agents more, so I want to make that very clear. I'm no longer doing video marketing, but I do have a software you guys can play with us in and we'll talk about that later. However, if I never had a podcast and never built an audience and my prior real estate marketing dude business as a video marketing company would never existed, the podcast and a podcast in general.
00:05:06:05 - 00:05:24:21
Unknown
It's a form of content, you guys, it's a form of media. And so many people right now are like, I got to create videos like videos, a form of content, okay, it's just another form of media and everybody, as long as you work for yourself and you have your own damn business, you're running a business. And yes, the answer is you do need to start creating content, whether that's video, whether it's podcasts.
00:05:24:21 - 00:05:47:01
Unknown
I don't give a fuck what it is, but if you're not creating content, someone else is and you're going to be out of business. The building of personal brand is everything, especially in a real estate related business. And if you don't have a brand, you don't have a business, you're a salesperson chasing a chuck. So what we're going to be chatting about today is we got my boy Trevor hold him here, and he's going to be walking us through the power of podcasting.
00:05:47:03 - 00:06:00:02
Unknown
See these questions pop up all the time. Should I get a podcast versus not get a podcast? So what would be the strategy if we were to create a podcast as a real estate agent or lender? Is it worth it? Is it not? We're going to find out. Without further ado, let's go ahead and introduce our guest, Trevor.
00:06:00:02 - 00:06:20:10
Unknown
Trevor, what is going on? How are you doing once you say hello to who you are and what we learned today, they're do excellent today, Mike. Thanks for having me on, on the show. CONAN From out in New York, upstate New York, out here, finally get some nice weather, 35 degrees, which is nice that I was talking to one lady earlier today, 70 degrees like, damn, where I kill for that.
00:06:20:12 - 00:06:40:14
Unknown
I'm not going to see those temps still till May. But with that said, we're on a company called Podcasting. You podcasting. Why are you been doing it since 2017? Been in the podcasting space since 2015, seeing all of the ups and downs within the space and yeah, just how people personally brand themselves within the podcasting space love it.
00:06:40:16 - 00:06:55:16
Unknown
Let's get into it. I get questions all the time about this, like, Hey, should I start a podcast? Should we, should we do this podcast? And what we're going to do is you do this for all kinds of industries, correct? Correct. Okay. So let's keep it. We'll try to keep it focus for the real estate people like that.
00:06:55:20 - 00:07:10:11
Unknown
I would a reality investor, a mortgage lender, real estate agent and honestly, this is a deal for any local service based business. If your referral base, it's the same thing, right? It doesn't matter if you sell houses or vacations, I could care less your referral base. You need to build personal brand. People know who the hell you are.
00:07:10:13 - 00:07:35:04
Unknown
Now. How do you like how is an agent someone in the real estate space? With that in mind, what and why would they want to create a podcast for? Well, I'd say one just generating brand awareness for who they are. People think that it's cool if you have a podcast, if you're, say, a real estate agent in your local market, I'd say, my market as an example in Albany, you have a podcast and all you're talking about is the real estate market in Albany.
00:07:35:06 - 00:07:52:02
Unknown
What's going on? Our house is appreciating is value going down. You know, our market here in Albany is going to be a little bit different than some of the other parts of the country, like where I was in Massachusetts, where houses here don't appreciate as much where in Massachusetts, you know, you could double your price. And in four or five years, it's pretty ridiculous out there.
00:07:52:04 - 00:08:22:22
Unknown
So why is just building that brand awareness? And then like you mentioned earlier in the show, taking the video content from your interviews that you do, whether you are doing it with a guest or whether you're just doing it by yourself, typically only a 30 minute interview, there's so much content that you can take. And I find that when it comes to social media, it's hard for people to sometimes just sit down and try to write, you know, copyright different social media posts so when they can take an interview and they can either send it off to like an editor or whether they can do it themselves, I know for me I just send it
00:08:22:22 - 00:08:39:15
Unknown
off to an editor and then they can create anywhere from 5 to 10 social media posts and then I can go out there and promote it and people are like, Wow, Like, look at this guy. He looks super professional. I trust this guy. I want to use this guy as my real estate agent versus totally. So your older real estate agent, maybe their website sucks, maybe they don't.
00:08:39:16 - 00:09:01:22
Unknown
Any content that's out there like, I don't know anything about this person, but now someone comes to your website, looks professional, you have all these videos, you have this podcast, people can check you out, find out more about you, and you're just building like all of that credibility and trust. And even if you're in your local market, yeah, you might not get like a ton of people listening to your podcast, but you might become big in your local market.
00:09:01:22 - 00:09:25:05
Unknown
Doesn't mean you need to become big nationally, but just in your local market, it's going to be super beneficial. And then if you are real estate coach per se, then you can obviously go, you know, across the entire US service. But local, I mean, it's a it's a game changer and you think of there's only so many real estate agents I see doing this in their local market and it doesn't have to be like something you do every single day.
00:09:25:07 - 00:09:39:10
Unknown
But maybe something you do once a week, once a month even apply. I want to go more than once a month because some people just lose traction with the show. We just do a monthly recap of what's going on in the area, what a house to stand for, what are you noticing in? And then people start to look at you as the go to leader.
00:09:39:10 - 00:09:55:22
Unknown
And again, you're just building that reputation and building that brand. Yes. Like we're talking about positioning. Right. And let's just let's just plays out. All right. To real estate agents. I'm just going to pretend I'm selling a house. I'm going to hire two real estate agents and I come across two and I you know, I don't have anyone I'm referred to.
00:09:55:22 - 00:10:10:14
Unknown
I'm new in a market. I'm a C to different people. Right? I got my if you guys are looking at somebody, I got my hands up. All right, 2 to 4. What? Agent One is what you expect the real estate agent to be. You go to their website, they got, like, their suit and tie on their professional site.
00:10:10:14 - 00:10:32:21
Unknown
You go to the about page as the there's a family shot. You know, they help people buy and sell real estate. Right? And you're like, great, great. It's just pretty much what I expect. Now. I go to Agent B, Agent B as a podcast. His podcast is up on his website. It's multipurpose. There's videos all over from all the clips that Trevor is talking about, multiple purpose in here.
00:10:32:23 - 00:10:58:09
Unknown
And if two people were to land on two different websites, I can tell you that the experience I know this 100% is the experience is different. And even though no one might ever have listened to the podcast, the fact that someone has it says, You're legit, doesn't it? And then being able to use your podcast as a way for your social contact is a really good idea.
00:10:58:09 - 00:11:15:05
Unknown
I did for two years because then it just filled in. That's a real game in, right? But you got to get those big your plate because anything you do on video, especially with a mike in, you just look like you know what the fuck you're doing, right? Like, okay, this video right here, if you guys watch it, I got just Michael Jordan look at me like I could be like, this is video.
00:11:15:06 - 00:11:40:15
Unknown
Like I could be talking about blocks, right? But the positioning of what you're doing is exactly right, guys. It's really powerful. People start to paint you as more important than you really are. It's it's legit. Talk to me about the short form content off the podcast and I want to get more into like topics, but I want to touch on that because I think that's important.
00:11:40:17 - 00:12:08:15
Unknown
Multipurpose in your podcast. If you're not doing it, don't think there's a point to have one to begin with. What's your opinion on that? Yeah, now you got to be doing it. I mean, it's just when you look at when you're trying to brand yourself, obviously you have the podcast within itself and that's what you're trying to do, but you're just leading all the sort of content that's out there, whether it's you be on the, whether you having your own podcast and just you being on your own and creating all the social media clips, whether it's having a guest on the show, you're creating clips for them and then they're sharing those clips of their
00:12:08:15 - 00:12:31:07
Unknown
audience and now you're getting more recognition. I now you definitely ought to be doing it. And I would say pretty much all platforms when you're thinking YouTube, Instagram, Facebook, I think a lot of people are still hesitant on TikTok because it's just more newer. They think it's more for like teenagers. But I've seen a ton of podcasters put their put their content on TikTok and have it go viral, get tons of leads from it.
00:12:31:13 - 00:12:52:07
Unknown
So that's like another sort of, you know, I'm obviously older, my year older, so it's not something we really grew up with. But for the younger generation, that's really how they're consuming content now. So why miss the boat on that opportunity? Not to say that a 16 year old is going to be ideal real estate client, but say maybe there's a 25 or 26 year old first time home buyer that finds you on it.
00:12:52:07 - 00:13:07:14
Unknown
They know that you're in their area. Now all of a sudden they decided to hire you because you create this cool social media content. And and if you say, I don't have the time to do it, they're services. You can go out there and hire. It's not going to be you know, if you want to pay a pretty penny, it's going to be better.
00:13:07:14 - 00:13:24:21
Unknown
If you want to go cheap, you can go through like Upwork. Fiber out might not be as great, but at least it's just something they are getting created and done. So yeah, I definitely recommend it for everyone. I mean, you're just wasting I mean, you're spending 3060 Minutes on a podcast interview to begin with, plus all the prep time and different things like that.
00:13:24:23 - 00:13:43:06
Unknown
You know, why not just take that video content and produce it even further? Because you want to be like pretty much everywhere that you can all the time. So you're constantly in the back of people's minds. Yeah, I don't even think it matters what you're doing. I know it doesn't matter what you're doing on video because there's like, you know, for organic, I don't think it matters, period.
00:13:43:09 - 00:14:03:21
Unknown
Like you just have to be consistent on organic right now. Paid like video and you're running ads with that in. Yes those are scripted as a very well plan are there's a strategy behind it but from organic and here's why guys like Trevor at do you remember any videos you saw yesterday? Probably not. Neither do I. But like but you know, you saw people, right?
00:14:03:23 - 00:14:18:13
Unknown
You know, like, I know who I saw people on video, but I have no fucking idea what the hell they're talking about. Right? I just know I seen their face, but it's present. Like there's a article, the other that came out, like Gary Vee blows 250 pieces of content a week, and I was like, Holy shit, how am I going to do that?
00:14:18:13 - 00:14:35:02
Unknown
Well, duties multipurpose. And he probably has like 5 to 10 core pieces of content he creates, and then his team cuts them up. And like what Trevor and I are talking about later. Yeah, and you have to posted it and guys, tick tock. Like I'm seeing people get big, big deals off Tik tok. It's not a little kid platform anymore.
00:14:35:02 - 00:14:52:10
Unknown
There's there's people on there's legit I'm not on there really I don't like it but if you're on Tik tok you need to be on Tik Tok. One more tip then. I want to another question for you. Don't take like your content and like not put it anywhere you're at. So like, don't go on Tik tok. If you're not on Tik tok, it's gonna work anyways.
00:14:52:12 - 00:15:08:15
Unknown
Like, if you're not constantly on Tik tok, don't just go post the video there and there's no points not going to grow, right? You have to be engaging on the platforms. Your posting, your content and the ones that you engage with are where these videos would go, you know? So for what it's worth, Trevor, let's talk about some topics.
00:15:08:15 - 00:15:22:13
Unknown
You hit some interesting. I was asking about this like how do we what's the cadence, what's the frequency of a local based business like that? And you said it earlier and I want to touch on this. You said I would probably go like once a month is what you said, right? Yeah, exactly. I probably go once a month.
00:15:22:14 - 00:15:39:23
Unknown
If you're really feeling it, you could probably go about once a week. But I find that when you're talking more local, maybe don't have as much updates, but you definitely don't want to go like and I'm sure you've seen podcasts, they do an episode, say, today, and then they do another episode three months from now and then maybe four months and then maybe they do, you know, three all in one month.
00:15:39:23 - 00:15:57:00
Unknown
The following The long other notice all over. It's sporadic. Your audience wants to know exactly when the podcast interview is going to be coming out. So you might say this interview is going to come out the last Friday of every month or this interview is going to come out, everyone's one eight and Pacific or Eastern whatever time zone you're in, and you just want to be very consistent.
00:15:57:00 - 00:16:13:06
Unknown
So that way your audience has something to look forward to because, I mean, there's million, 2 million podcasts that are out there. Like if you're not consistent, they're just going to move on to different podcasts no matter, even if they really enjoy it, they're just going to have no idea when you're going to be producing it. So it's hard to build a following like that.
00:16:13:06 - 00:16:29:16
Unknown
I know for myself when I'm listening to podcasts, the ones that I always stick to have a very consistent schedule. I know, Hey, this podcast is coming out on Tuesday. I can listen to it on Wednesday, Wednesday, I can listen to it on Thursday, so I have to look forward to. But if you don't build that, people are going to be like, I have no idea when this podcast is going to come out.
00:16:29:18 - 00:16:51:18
Unknown
Now I don't care about it anymore. It'd be like Days of the Long Days of Our Lives not coming out the same time every year like Housewives Across America be fucking flipping out, right? Like imagine like, like it'd be almost be like I moved to California. Funny because I'm from Chicago, so football on Sunday starts at noon that when you move to California, move to California.
00:16:51:18 - 00:17:08:09
Unknown
Football starts at ten. And for like six months, my whole world was fucked up. Right? And I'm like, Dude, why? Why? You got to learn that? That's Kadence, you guys. So you have to if you're going to set a date, you have to stick with it. And that's true with anything like your podcast and can get any love for how long would you guess?
00:17:08:09 - 00:17:25:14
Unknown
The first 3 to 5 months could be that could be a year to be a year. And that's why people quit is they think they're going to go into it. And obviously this podcast that do are successful right off the bat. But typically they've built a following beforehand and then now they're dipping their toes into the podcasting space.
00:17:25:14 - 00:17:45:00
Unknown
I mean, again, you're talking a year, maybe two years, before you really start to see some traction. And that's why people they'll start off, they're like, I want to start a podcast, let me go out and do it. They get so pumped up, they go out and do it. They do it for, you know, ten weeks or let's say a year, and they're like, I only have like five listeners on my show.
00:17:45:02 - 00:18:01:24
Unknown
It's not it's not worth it. And then they're just stop, stop doing it at that point again. Yeah, you can make a lot of money on the podcast, but it has to be very consistent with what you do and you got to know you're in it for the long haul. I mean, the easy part within the podcasting space is going out there and, and guesting on people's podcast.
00:18:02:00 - 00:18:16:03
Unknown
That's just, you know, that's an easy way to get started. But when you're starting your own podcast, you control all the content, which is the benefit of it. But again, it takes, you know, it could take at least a year or two and I don't want to dissuade anyone. You just got to know you're going to be in it for the long haul.
00:18:16:03 - 00:18:37:15
Unknown
You can't just start it as a passion project because it's going to. In Ignite, I'd see the benefits of the rewards as soon as you think it's going to be. And that's like such a good point. And this this is true on anything with personal branding. You know very well said because you're not going to get results. And it's that's why so many people don't do it and they don't last.
00:18:37:15 - 00:18:57:02
Unknown
It's not that you won't get the results. You'll never know how close you were. And then they just peel off. Peel off much like this guy's ten years on the show, ten years, 2014. And I've missed the most amount of shows this year because I was pivoting my own business. But before that, it was consistent. Every Saturday, every Saturday, every Saturday, every Saturday, when I don't have a show, I record myself.
00:18:57:03 - 00:19:22:00
Unknown
I don't have a guest. But you got to be so consistent. On when you say you're going to publish, otherwise you don't have a show. If the news stops coming on at 10 p.m. every night, it's not the fucking news anymore, right? Discerning SEO value like search engine value. When you have a podcast because you're getting a lot of love and you get a lot of good link backs from like Lips in iTunes and all these other authority sites.
00:19:22:00 - 00:19:47:21
Unknown
So can you talk on that at all? Yeah, that definitely supercharges your SEO. I find one, you're getting those. You know, the links back to your site is definitely super helpful when someone's putting together a podcast interview title for the episode. I find that I want to throw it like I use a tool called Spy Food. You can use this tool like a AA drafts, same rush, any of those SEO tools, and I'll put it in there and see what it spits out to me.
00:19:47:21 - 00:20:10:11
Unknown
And that's the name of the title of the podcast to make it very echo oriented. And then there's trans transcription services where you can embed the full transcription of the interview onto your website, and that's just going to be juiced up with SEO content. You could put the whole transcription, but I find just embedding it. Typically the website's going to load a little bit faster, it's going to have better page times and different things like that.
00:20:10:13 - 00:20:28:05
Unknown
It's just going to juice it up. I mean, and again, you might not see it right away, but I know from our end, from just doing in the podcasting space, throwing the transcriptions up there, I mean, it really grows here. I mean, it's SEO again, it might take six months for you to start to see the impact on the echo side of it.
00:20:28:07 - 00:20:42:21
Unknown
But the more you're consistent, you can think I know like you might, you've been doing it for ten years. You know, over the course of time you can start to see the spike of the SEO. You can start to see the listenership start to go up. And again, the longer you do it, the more often you're going to see these results.
00:20:42:21 - 00:21:00:20
Unknown
Yeah, but the SEO component super beneficial, I think with that and again I go back to the title, not just throwing anything up there, making it like specific for an SEO rich keyword and I mean I could go on all day. It's like, you know how to find the different keywords, whether you were difficult to search for and different things like that.
00:21:00:20 - 00:21:25:11
Unknown
But just for this conversation, just make sure you at least have some sort of search volume behind that keyword. So like, you know, mine, you know, let's say hypothetically, the title of the interview today, like the benefits of podcast casting and podcast casting is going to be that keyword, obviously the long tail keywords, the benefits of podcasts, casting, podcasts, guessing, you know, maybe it's getting 203 hundred monthly searches per month.
00:21:25:13 - 00:21:44:06
Unknown
So the now you're putting that in the title and then the interviewer say is all about podcast casting as an example. Then it's going to be talked about all throughout the transcription and it's really going to juice up your SEO content. So in a nutshell, that's how it would, how it would work. But yeah, you definitely want to just do the benefit from the standpoint of it.
00:21:44:08 - 00:21:57:02
Unknown
Very cool. I think most people want to come on this show just for the link backs. I'm pretty positive most people, when they come on here, I know what they want. They want to either pitch their service or they want to come on and do like the link backs. And I understand we want the link backs all guys.
00:21:57:02 - 00:22:16:12
Unknown
And I say Yes, as long as you have good shit. I think that that's really cool. Let's go to some topic ideas for them and then I think we get wrapped up. So I think people are going to What am I to talk about for 30 minutes? First off, those have to be 30 minutes. That's just a number I think we throughout I've seen podcast at 10 minutes or 15 minutes and all the that it just needs to be consistent, right?
00:22:16:14 - 00:22:30:14
Unknown
So I'm going to go I'm going to spitball. It's doing like a branding session. Just be fun. Let's think about some ideas you can have now. Personally, this is my opinion. I don't know if it's right or wrong. It's fucking right. Damn it.
00:22:30:16 - 00:22:55:22
Unknown
I would deem the podcast to your personal brand. So for example, let's just say just Guy came in, I branded him a while ago and he comes to mind and he used to rescue dogs. So every house he sold, he would sponsor a dog. So my podcast would probably be called Man's Best Friend or at best something backyard like who's to say the San Diego Dog House or something like that, right?
00:22:56:02 - 00:23:18:24
Unknown
So I would theme it towards dogs, but every month what I would feature would be the best place to take your dog hiking, the best dog friendly restaurants because it's still real estate So community. So you need to be a tour guide. But I would go after a dog like in San Diego, dog friendly shit in San Diego, like you need a theme it still and match it to your personal brand, if that makes sense.
00:23:18:24 - 00:23:35:24
Unknown
And I'll give you guys a couple more because you can't just be like, Here's today's market update. Here's just a about because you're going to go to Zillow and I'm going to get that information in 5 seconds. Looking at a graph, I don't need to listen to a 15 minute podcast for it. However, a real estate agent or even a lender doesn't matter.
00:23:35:24 - 00:23:57:04
Unknown
You're still local community based. So as long as you're talking about community, you're always reminding people what you do for business. So let's do another one. Let's say somebody is a workout fitness health buff. We'll say the same concept. I mean, do San Diego is where I live. If I was a health fitness and let's just say that I'm all into working out well, I'm going to create a series.
00:23:57:04 - 00:24:18:03
Unknown
I'm going to publish once a month and every month I'm going to have a format. I'm okay. I'm going do the top hiking spots. I'm going to do the record setting healthy trends of the month, and then I'm going to feature and focus on all of the organic and healthy non-meat eating places. For example. As a matter of fact, I'd probably have some of those fuckers on my podcast.
00:24:18:03 - 00:24:38:00
Unknown
I'd interview them, but I'm steaming it out. Right? Does that make sense? You're my talking too fast. Yeah. No. Yeah. No, that definitely makes sense. I could definitely see that aspect of video has to be your personal brand when you think about it. I mean, again, I know we touched on it briefly, but there's like 2 million podcasts out there.
00:24:38:02 - 00:24:53:24
Unknown
Why? Someone to listen to your podcast over another podcast. You got to make it specific. If you're going to start a podcast as a real estate agent, interviewing other real estate agents on how they became successful, because that's been done before. What are you going to do with that to make it more interesting, what it's going to be like in potatoes on it?
00:24:54:05 - 00:25:07:17
Unknown
I got a good one for a lender. What do you think this would work Well, so let's pretend you're a mortgage broker. What do you really fucking do for a living? You crunch numbers, right? You give people the lowest monthly housing payment. So what if you had a monthly show that was nothing about the best deals of every month?
00:25:07:19 - 00:25:25:10
Unknown
That would probably work. You can literally just you could literally just budget crunch and go like this is the best place the cheap. Basically you're going to sell Like this is the cheapest place to go eat this month and feed a family of seven. So basically the biggest bang for the buck and you would have plenty of context that changes every month, right?
00:25:25:12 - 00:25:57:16
Unknown
So you just you deem it out per month. Think about Christmas like the best places to go buy gifts. Duh. And you could literally talk about and you could call it like budgeting San Diego. Yeah, exactly. And you're making it specific to your location. It's people now and then they and then, yeah, you're just talking about that. And then you briefly mentioned, hey you know so and so lender that is episode we're talking about this and then maybe put a spill halfway through the podcast if you're looking for a mortgage looking to refinance, looking for your next house, you know, contact me, you know, then you go back to whatever you're talking about and of
00:25:57:16 - 00:26:13:02
Unknown
the podcast. Thank you so much. Again, you know, if you're interested buying a house, contact me something. Yeah, something like that where you're at that point in your service, but people aren't thinking of you as like you're only trying to you know, you're being like over salesy with your podcast. It's not going to be like an infomercial for 30 minutes.
00:26:13:04 - 00:26:34:16
Unknown
Here's the key, guys, is that your content doesn't need to tell people what you do. It needs to remind them what you do. Big difference. I don't know. And here, here, you know, my businesses, most people don't, but I have a marketing podcast full of stuff that is marketing ever. And then once in a while I'll slip you guys an offer, right?
00:26:34:18 - 00:26:47:21
Unknown
So like, if you don't have to, you have to remind people what you do for a living. You'll need a tailor. But he's right. If you start talking about you should buy a house. And this is why, like no one wants to listen to a podcast about telling me why you should buy a house like that might be the most boring podcast I think of all time.
00:26:47:21 - 00:27:01:19
Unknown
You might win the Guinness Book of World Records with that one because you run out of shit to say in, what, three months? Yeah, Yeah, exactly. I mean, if someone wants to figure out how to buy a house, they can just go on Google tape and how to know how to buy a house. And I'll probably an article for Zillow is right up there.
00:27:01:19 - 00:27:20:13
Unknown
They can go through it. All right, then. I had one. Actually. This is such a girl. She never took the concept, so I'll be happy to share it. It's a realtor and she had a really she wanted it. It would have worked. She's never did it. And she she wanted to do a podcast nationally about the craziness of real estate.
00:27:20:15 - 00:27:41:02
Unknown
So what it was an interview story, but about the craziest shit they seen. So a haunted house interview for Melissa Listing Agent selling a house where someone got triple murdered in the house that like a waterfall, open up in the middle of basement. Like the craziest crazy stories really, Which was interesting. Like that one. I think that one had legs.
00:27:41:04 - 00:27:57:10
Unknown
Yeah, Yeah, I would agree with that. I mean, I'd. I'd be interested. I think we called it Humor House, if I'm not mistaken. It was I think we named the show Humor House and I think of it as years ago, Humor House. It was like it's the funniest crazy things that real estate what they don't show you like that would have been fun.
00:27:57:12 - 00:28:16:09
Unknown
But you see where we're going, guys. It's like you got to sort of like, think outside the box a little bit, right? And once you have that theme is a lot easier to create content. yeah. certainly. Definitely makes it easier. And then again, you know, you're not just creating the cookie cutter content that everyone's going out there and creating your again, everything's going to be crowded.
00:28:16:09 - 00:28:43:17
Unknown
People are starting their podcast, The Pod people in your own Market already started the podcast again. What can you do to make yourself stand out against the crowd? And again, like we've touched on, this is, you know, some great examples. So we touched on what does that SEO value, social media content, brand authority, brand positioning folks, any form of media is good and there's not really an option, I don't think.
00:28:43:17 - 00:29:00:21
Unknown
I mean, you got to do media, whether it's a podcast, whether it's video, whether it's this. I just think you have to do it forever. Why don't you give us your final tips? Anything else you want to mention here? And anyone who's struggling maybe with a podcast, should I do that? Should I do this? What do you what are your final thoughts?
00:29:00:23 - 00:29:18:19
Unknown
Yeah, I'd say one. Yeah. If you're on the fence, should I start a podcast today? What's the benefit of this? I guarantee you competition's already doing it, already thinking about it. So if you're not doing it, they're going to be doing it and they're going to be the ones to get the leg up. And then too, I find the number one reason people don't start a podcast is a I guess it's twofold.
00:29:18:19 - 00:29:35:18
Unknown
One, uncomfortable. And then two, not sure exactly what to do. Of course, it's going to be uncomfortable. You've never done it before and there's free YouTube tutorials out there. Or you can go on Udemy purchase of course, for like 20 bucks you you'll learn exactly how to start your own podcast or you can outsource it again, Upwork five or different platforms like that.
00:29:35:18 - 00:29:55:15
Unknown
There's you can look up podcast editing companies, there's tons out there, podcast coaches, tons out there. So really no excuses other than you just again, coming over that anxiety and obviously it's going to suck. You're probably it's like the first couple episodes are just going to be normal like on anything else. But the more times that you do it, the more comfortable you become.
00:29:55:15 - 00:30:09:16
Unknown
And think about like if you go into the gym the first time, you have no idea what to do. But then you go to the gym six months a year. Now you know exactly what to do. You know what weights to left, you know exactly how much to lift, what those weights exercises to do. Similar to like a podcast.
00:30:09:16 - 00:30:23:05
Unknown
The more that you exercise, the better you get. That's yeah, I would say those are really the last two pieces of advice that other people are going to be doing. There's going to be other realtors in your space. I'm just giving an example of the realtors. There's only other ones out there that are going to be creating content.
00:30:23:05 - 00:30:41:21
Unknown
Either this you're already creating content, so how can you compete with them and not fall behind? And then to start your own podcast, just you just got to do it. You got to be consistent with it. Understand it might take a little while, but you're really going to reap the benefits at the end of the day. Yep. Anything you guys do in content creation, just know that you're you're always have to multipurpose the content.
00:30:41:21 - 00:31:02:03
Unknown
It goes create, distribute and then multipurpose. And as long as you follow that formula, I'm a firm believer that no matter what you do and form of media, it's always going to pay off eventually because the most the biggest assets you have on anybody is your personal brand. It's not your bank account. So personal brand is recession proof, folks.
00:31:02:03 - 00:31:22:07
Unknown
Remember that. So I appreciate it, dude. Great time. Why don't you tell people where they could reach you if they want to learn more about what it is you do, don't you? Tell them it is what you do. Sure. So we work with folks primarily like the real estate space to go out there and our services either get our clients booked on podcast, help them start their own podcast, editing their podcast, different things like that.
00:31:22:12 - 00:31:41:06
Unknown
But again, been in the space since 2017 and just been working with us. They can just check us out on our website. Podcasting. EW.com Just podcasting. Why are you dot.com? They want to get connected with me personally. Just check me on LinkedIn or Instagram under my name, cover all of them and happy to connect and chatter. Appreciate you, man.
00:31:41:06 - 00:31:57:18
Unknown
Thanks for coming on and thank you for listening to another episode of The Realest Stay Marketing Do podcast. Folks. Check us out. Check out our new software we have. If you're looking to get in content creation, you need to check out referral suite. Referral suite. We help you script not get in the video side. We don't help you script.
00:31:57:20 - 00:32:15:17
Unknown
We distribute your social content or we give you the content to create a social media video email and automate your direct mail each month so that you can take on the omnipresent channel approach Farming your database, your relationships. They stop forgetting what you do and they start remembering who you are and more importantly, sending you their referrals. So check that out at referral suite and thank you for listening to the episode.
00:32:15:17 - 00:32:35:24
Unknown
The rest of you are going to do podcast. We'll see you all next week. Piece. Thank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW dot Real Estate Marketing dude dot com. We make branding and video content creation simple and do everything for you.
00:32:35:24 - 00:32:47:00
Unknown
So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Industrial Investing (Ft. Joel Friedland)
20 jan· Real Estate Marketing Dude
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Transcript:
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:06:09:10 - 00:06:30:05
Unknown
What's up? Ladies and gentlemen, welcome. Another episode of the Marketing Dude podcast. Folks, if you've been following last few weeks, the name of the game right now is thinking outside the box and doing things a little bit differently and opening your eyes to new things. There's lawsuits, there's all kinds of shit going on in the real estate industry, and whenever there's turmoil like this, there's also a lot of opportunity.
00:06:30:05 - 00:06:45:19
Unknown
But you have to be able to see it and take advantage of it because it's during the shifts that the people from nowhere make big names from themselves, and the ones who are big names end up drowning. And I like to bring a lot of different perspectives onto the show. So I don't know. This guy is from Chicago.
00:06:45:20 - 00:07:06:18
Unknown
This is two Chicago people in a row. So you're welcome. There's a reason why we're fucking awesome. It's because we work hard. Unlike the people in California. No offense taken. No, we're there. We're going to go out and introduce our guests today. We're going to be talking about industrial real estate, industrial investing. It's much different than what we've typically talked about.
00:07:06:18 - 00:07:23:15
Unknown
Don't think we've ever had this on the show. So I'm excited to see where the conversation takes us today. So without further ado, let's go out and introduce our guests. Mr. Joel, Fred Friedman. FRIEDMAN How do I want to say it? Friedland. Friedland okay, I'm all right. Sorry. I did see the land at the end. Well, how are you doing it?
00:07:23:15 - 00:07:43:16
Unknown
Say hello and now tell us a little bit about yourself. Sure. So I live in Chicago. I grew up in a suburb of Chicago called Highland Park. And when I was 22 years old, I graduated from the University of Michigan, by the way, two years there and before that, two years at San Diego State. So I love San Diego, where you live.
00:07:43:18 - 00:08:11:06
Unknown
Congratulations on your championship. Thank you. Thank you. Big deal. Yeah. Yeah, it was awesome. So right after graduating, I wanted to get into real estate and I thought, I'm going to get into residential real estate because that's what I do. And a friend of mine introduced me to a family that owned a business called Podolski Podolski Family, and they owned 84 industrial buildings and we're looking for a leasing agent.
00:08:11:08 - 00:08:39:13
Unknown
So and a property manager. So I interviewed them on a Thursday and I started on Friday. And because I was, I think, a pretty good interviewer. Interviewee they hired me right away and said in 1981 interest rates were 17%. They had 84 buildings, ten of them were vacant, and they wanted me to figure out how to do the lease up of their vacant industrial buildings.
00:08:39:13 - 00:09:08:21
Unknown
First of all, you have to understand what an industrial building is. An industrial building is is usually in the way they have industrial parks in every city and every town has them. In Chicago, there were 16,000 industrial buildings, but most people never even heard of it. An industrial is where warehousing takes place and distribution. So for today, the famous industrial tenant is Amazon.
00:09:08:23 - 00:09:47:01
Unknown
And but every store has a warehouse. Every chain, every restaurant chain has a warehouse. And then there's manufacturing where every product if you look around in the background here at this place, everything the back in my background was made in an industrial building, manufactured or assembled. Your headphones, your hat, your microphone, your shirt, the computer, everything. An industrial, therefore, is really the backbone of the American economy as far as supply chain, logistics and creation of products.
00:09:47:03 - 00:10:08:18
Unknown
I knew nothing about it. So it started out as an industrial real estate agent. I didn't even have a license. Did you ever need one then? In 81. yeah. yeah. And the Podolsky said, You need to go get a license. You're going to act as a broker. We're not going to tell anybody. I think the statute of limitations is up from 42 years ago.
00:10:08:20 - 00:10:32:09
Unknown
So you're you're saying about a license. We're going to find out if you're even worthy of backing you and having you go out and get a license. So we're going to see what you can do. So Mr. Podolsky, Steve Podolsky, who was my mentor, told me to get in my car and drive to industrial parks and look around and figure out what industrial is.
00:10:32:11 - 00:10:56:21
Unknown
And it was summertime and the weather was beautiful and I knew they had vacant buildings. So I drove to a town where they had a number of vacancies called Schiller Park. Where Airport? Yeah, I parked my car on the street in an industrial park and I just started going door to door to companies like big companies where they have 30 employees or 50 or 100 employees.
00:10:56:23 - 00:11:19:05
Unknown
And I walked door to door into each building and I'd walk in. And at that time there were receptionists. There's always a receptionist. They were the people who answered the phone and greeted people. And I'd walk up to the receptionist and I'd say, Who do I talk to about whether you guys might want to move your company to a building that's available a block away?
00:11:19:07 - 00:11:46:01
Unknown
And I had a stack of fliers with me that had the pictures of the buildings and all the specifications, and by doing that, I actually found tenants who were looking to move. It was a really rough time though. In 1991, there was a really bad recession. It was similar to how it felt in 2008. Yeah, real bad. And people who aren't as old as I am don't remember that because they weren't there.
00:11:46:03 - 00:12:12:01
Unknown
And then there was another recession, by the way, in the early 1990s, 1990 and 1991. So I've been through these cycles and I learned that when that first job, that when things are bad, you have to work harder. You have to talk to more people and you have to find more opportunities by just having total perseverance. And after being an agent for the Podolski, I became a tenant rep and a buyer rep.
00:12:12:01 - 00:12:50:21
Unknown
As a broker. I got my license and I represented tenants. I had some really interesting tenants that made products that, you know of that are out there, your microphone. Is that a Sure this is an idea actually, it's such a good question. I think this the at 2100 is the one I originally had, but I bought new one same model or not also sure sure as a microphone company and I'd say they they take they're a major part of the microphone market and I call on them because they were in Niles, Illinois, and that's where one of the Podolski buildings that was vacant was located.
00:12:50:23 - 00:13:09:10
Unknown
And I actually stopped in and I talked to them and I said, Hey, how would you like to move to the warehouse That's about four doors away? And they threw me out. Yeah, I got thrown out of a lot of places. I one place I walked in and there was no reception. So it's just this guy chomping on a cigar at the desk by the front door.
00:13:09:10 - 00:13:51:05
Unknown
And I said, Hi, I'm here to see if you might consider moving. He says, Go buy, get out. Yeah, there was a lot of that. So I was just I was a perseverance machine as an agent. And then about nine or ten years in, I decided it was time. Maybe to start investing in industrial real estate. So I put together a syndication, my first one and I raised $560,000 and $20,000 chunks from people that I knew from my family locally, from building relationships with clients who were tenants and owners of companies.
00:13:51:07 - 00:14:16:16
Unknown
And we did the first deal, we did the second deal, and now we've done 100 industrial real estate acquisitions. So syndication, what would you say would be the pros and cons to it as opposed to syndicating multifamily? Because I know a lot of a lot of people are very familiar with, if you're not familiar syndicator, multifamily goes watch like 20 shows on this podcast or just just look at Grant Carter like it's all over the place, right?
00:14:16:18 - 00:14:41:24
Unknown
So what's the difference between in Yeah, walk us through the pros and cons like why industrial over multifamily? Because I would, I think the email is this or is this like the the sleeper cell here because everyone saying, industrial office like people are commercial real estate investing sounds scary right now in the general public. So industrial is the hottest asset class in real estate right now.
00:14:42:01 - 00:15:13:16
Unknown
And the reason is because the Internet has caused a need for warehouses, because every time a store sends a warehouse opens. Also, there's a lot of political trouble with China and a lot of products are made in China for American companies and companies who struggled with supply chain issues during COVID and still are. And some of the problems between the United States government, the Chinese government, because we're mad at them for stealing our stuff, Right.
00:15:13:18 - 00:15:39:13
Unknown
And for not playing fair. A lot of companies that used to make products in China are now bringing it back to North America, and that's called reshoring. So the two trends, the Internet and reshoring have made industrial the hottest. And it's interesting you say that, cause I just spent a week in Chicago for Christmas and my folks live on the South Side near Joliet and Crest Hill, Romeo Ville area.
00:15:39:15 - 00:15:59:00
Unknown
And literally since the last time I've been home to the time I was there, I can't tell you the amount of warehouses from Amazon Target just moved in on Weber Road. Well, Wayfair is right there. Like there's just a tremendous amount of warehouses and they're not very expensive to build. So just like a big vanilla box essentially. And then there's a big box.
00:15:59:00 - 00:16:19:00
Unknown
They're big boxes, they have little boxes, they have tall boxes, they have short boxes. Some of them have a lot of loading docks for trucks. Some of them just have a few loading docks. Some have a lot of office on one end. Some have almost no office in the middle or on the end. But here's what's great about industrial that people don't know.
00:16:19:02 - 00:16:47:19
Unknown
And I'm not trying to say, Hey, everyone get involved in my business. But when people hear this, they really like it. The cap rates are higher because everyone's in residential. So the competition in terms of demand or investments in multiple family, you can find thousands of people who do multifamily work. And if you look at every podcast, there's only three or four industrial podcasts.
00:16:47:21 - 00:17:11:06
Unknown
Yeah, I get I get pitched for like real estate investors for this show. Like I get like three a week. It's nonstop is just like a guru every like minute, like popping up. Yeah. So the yields on multifamily because everybody's cramming in and there's too many people in it are running somewhere in the neighborhood. It's been is depending on whether it's on the coasts or whether it's somewhere in the middle of the country or whether it's Nashville.
00:17:11:08 - 00:17:44:24
Unknown
Yeah, but the yields, if you invest in a multifamily deal or anywhere between five and six and a half percent and in my industrial deals, I wouldn't take less than 8% of my life depended on it. I'm not interested in that. And there's a reason for that. It's because it's riskier. Usually we buy single tenant buildings. If you have a multi family complex with 300 units and you have ten vacancies in a month, you still can pay your mortgage.
00:17:45:01 - 00:18:09:17
Unknown
Well, we'll get into mortgages because that may not be true as rates have gone up, but there's less risk because there's diversification inside of that one investment with industrial, if I have a tenant and let me give you an example. Comcast was a tenant in one of my warehouses. They have to keep their equipment somewhere and the cable guys have to pick stuff up and they have to drop stuff off at a place to park their vans.
00:18:09:19 - 00:18:37:16
Unknown
Single tenant If Comcast leaves, I'm 100% vacant, but in the meantime, we own that building for 15 years, and by the 15th year our return was 32% yield per year because it went up every year. That's the other thing about industrial. We have generally built in escalations every year. And here's the third thing. That's that's maybe the best.
00:18:37:18 - 00:19:03:01
Unknown
We love manufacturing buildings. We love buildings where people have equipment and they put racks up. They can't leave. I was going to say it's like golden handcuffs. It's expensive to leave once you do it. Yeah, they can't go once once they're in, especially manufacturers, because they bring in, let's say, 30 machines into a 30,000 foot building and it might cost $50,000 per machine to move.
00:19:03:01 - 00:19:32:07
Unknown
It would cost over at least to move. So they just stay and stay and stay. So you've got higher returns. You've got automatic annual escalations, you've got this long term type of tenant. And one of the great things also about industrial is they're really easy to manage. So if you're if you have 100 units, yeah, no one's calling you, no one's calling you to unclog a toilet.
00:19:32:07 - 00:19:53:14
Unknown
They're no we have what's called now. That's right. What's called net leases and net lease is where the tenant pays everything. It's what I say to a tenant when they walk into one of our buildings, the potential new tenant, and they say, What are we responsible for? My answer is this It's very clear. It's as if you own the building, except you don't own it.
00:19:53:14 - 00:20:16:05
Unknown
You pay rent instead of owning it. And what I'm saving you is not having to invest the down payment. It's our money that's invested and you don't have to get a mortgage and you don't have to worry about paying all the the things that are behind the scenes that I do. But you pay for the mowing the lawn, you pay for the trimming of the bushes, you pay for the parking lot to be maintained.
00:20:16:05 - 00:20:38:24
Unknown
If it's Chicago, you pay the snow removal, you pay the taxes, you pay the insurance, you pay the plumbing problems. Everything sounds like a pretty damn good deal for a landlord. It is. So we love being an industrial landlord because our tenants pay everything. So, you know, it's it's the best kept secret. That's not a secret is an industrial is a fantastic asset class.
00:20:39:01 - 00:21:09:23
Unknown
But the reason that it's difficult is because individuals are afraid to invest in either a 100% occupied or a 100% vacant building. That's why so many syndicators do multifamily, as opposed to what I imagine the acquisition strategy is going to be a little bit different in in in industrial versus multifamily. So if I was if I were syndicating multifamily, I'm looking for value highest and best, something that's partially occupied probably right.
00:21:10:00 - 00:21:26:24
Unknown
I could go in there, still have some cash flow, fix up some of the places and then increase the cash flow over time and then, you know, stabilize it and then exit in five years or so. What would you it sounds like an industrial. Are you already having the tenant located before you go out and invest? This is first one.
00:21:26:24 - 00:21:46:02
Unknown
As a personal investor, do you have your tenant located before you go out and buy the industrial building? They're going to lease first because that seems super safe. If that's the case, yeah, I've got a really strange niche. This is the most bizarre thing you ever heard because this is sort of like you're being a a voyeur in someone's conversation about something that really happens.
00:21:46:02 - 00:22:17:09
Unknown
The background that nobody knows about unless they're wealthy families, own businesses. The reason is Grandpa started the business like I've got a company that makes fruit juice concentrate in two of my buildings in Chicago, right on the Chicago River at Belmont Avenue, very close to Western Avenue now, right here, That's a it's a beautiful location on the river where one day we think the industrial buildings will be torn down and maybe, Yeah, it's going to be all lofts.
00:22:17:11 - 00:22:41:08
Unknown
Yeah. Condos overlooking the river with a water feature. Right. I actually had a lot of listings at 2911 Northwestern, and that's like the only loft building on the river. I know exactly what you're talking about. It's such a beautiful location, and the tenant's been there since the 1990s. But let me explain what happens. Grandpa was in the fruit juice business in Melrose Park with his brother.
00:22:41:10 - 00:23:15:11
Unknown
The brothers had a fight, so they sold the business to get rid of each other. And Grandpa went and started a new business doing the same thing that he knew how to do, which was make fruit juice concentrate. The first company was called home Juice Company, very big company, and they're still around. But this family sold it. The grandpa and the son and the daughters started a new fruit juice company in Chicago near where they lived and built it up in a nine years.
00:23:15:11 - 00:23:43:06
Unknown
They sold it to the Rockefeller and the Mellon family that had a private equity group out of New York. So they sold that for millions of dollars. But the building was still there and the family still owned the building and the private equity company didn't want the real estate. They hate real estate. They only like operating companies that they can throw some fairy dust and fix them up and hire some people and make some profits and then sell it again.
00:23:43:08 - 00:24:18:09
Unknown
So this private equity group bought it from Grandpa and the kids. And what happened next was even more fascinating. The company that bought their company sold their company to a group called Hutchins, which is a conglomerate that owns 400 stores and seven companies. But who's the landlord? The family is still the landlord. So grandpa dies. Now it's the widowed wife, smart, and the three kids and they want to get rid of the building and get rid of each other.
00:24:18:10 - 00:24:48:11
Unknown
They no longer want to be tied together after all these years. So I find families that used to own the business, that now own the building where the tenant who's in there is the company that they started and don't own. Wow. It's a crazy niche. Yeah, I'm buying a building right now from a family who started a business that makes telephone emergency telephone posts.
00:24:48:13 - 00:25:13:16
Unknown
You ever go and university campuses and garages? Yeah, Like the little yellow phone. Yeah. So it's called Top of phone. It was started by Grandpa. The kids never went into business. Grandpa had a partner. The partner had no kids in the business. So the two older guys in their seventies and eighties sold the business to a private equity group.
00:25:13:22 - 00:25:40:09
Unknown
And now the family's on the property and they want to get rid of it and no longer be partners with each other. So let me ask you a question on that. That's interesting and I just want you guys listening. Just the principle he just outlined will apply to anything. It's not just like industrial, like, you know, he's developed a niche and I'm guessing you developed that type of you figured out who that avatar was probably after you bought your fifth or eighth building or something, you're probably like, Wait, hold on a second.
00:25:40:09 - 00:25:55:08
Unknown
Like, you're realizing that, right? And it's no differently for you guys. Like look at your own last five closings. You had your last five listings. Where are they coming from? Because people don't double down ever. They never focus in because we're like squirrels, right? Everybody just goes. We cast a wide net because we think we should be relating to everybody.
00:25:55:08 - 00:26:19:00
Unknown
But the riches are always in the niches, aren't they? Yeah. And Chicago, because we've got 1.5 billion square feet. It's a gigantic market. Yeah, it's, it's centralized. So we have, you know, we have rail, we have highways running everywhere. So it's in the middle of the country. So every industrial company has to be here and wants to be here in Chicago.
00:26:19:02 - 00:26:47:06
Unknown
And so our niches laser focus only on Chicago, knowing the market inside out, knowing the tenants, knowing the building owners and knowing all the industrial brokers. There's 300 industrial brokers in the Chicago area. And that's a lot. That's a lot. And all of them are experts and most of them are fantastic. And so they give us all of our data, our information, because they're in the market every single day.
00:26:47:06 - 00:27:27:14
Unknown
So we talk to the brokers every day. And what we do that's really bizarre is we buy these buildings all cash and no mortgage. So it's it's different. You syndicate every building you purchase. Is everything always syndicated? Are you buying up your own funds now? Yeah. Yeah. And three out of every four are no debt. And the reason that we do no debt is because I've been through the cycles and right now I have friends who are being so badly hurt by what's happened with interest rates at some floating rate debt and they have locked in rates yet and now the rates are super high and tenants during COVID, if it was not an A
00:27:27:14 - 00:27:47:12
Unknown
property, if it was a B minus or a C property, tenants couldn't pay and then they told their neighbors they weren't paying and then the neighbors didn't pay rent. And so then 20% of all the tenants are paying rent, plus rents aren't going up, plus the mortgage doesn't make sense and it comes up for refinancing and so debt kills.
00:27:47:12 - 00:28:12:23
Unknown
But listen, there's two things about debt. Either you become rich because you use debt when your timing's good, when rates are low and when cap rates keep going down. But when cap rates go up, interest rates go up, Refinancing difficult. Having debt can be you know, I say debt of debt is death. Debt is death when things go against you.
00:28:13:00 - 00:28:34:07
Unknown
However, when it goes for you and in it, you happen to be in a lucky period where debt works, you get rich. So like look at the rate which are 2% in the last market. If you got it, would you do it at a 2% rate? No, I would not go cash. What would be your look? What are the costs of maintenance for an industrial building?
00:28:34:07 - 00:28:59:07
Unknown
Like if you have a debt free, what's your what's your liability there? What's your exposure. Ten. It pays at all. Yeah. So is there any is there any. So you don't really care like it doesn't matter that the market could crash tomorrow and you're still insulated. I right now I'm feeling so comfortable that we we may be stupid because we can't get rich, but my investors are the kind of people who don't want to lose their money.
00:28:59:07 - 00:29:20:07
Unknown
They've already made a lot a lot of these family businesses that have sold that. I buy buildings from there. The same kind of families that invest with me. The members are already wealthy because grandpa started a company and the son came in and ran it and sold it for $300 million. And now to them, a small investment is 2 million or 3 million.
00:29:20:07 - 00:29:45:23
Unknown
So I have our minimum investments, 25,000, because not everybody is that rich. But we we really have a a network of wealthy people who love our stuff because there's no debt and they feel safe. Yeah. But they also know that if they want to gamble, they can go to other people. Someone who's in multifamily with a lot of debt can make a lot of money.
00:29:45:23 - 00:30:07:24
Unknown
So so I'm not saying and everybody should put all their money in something that has no debt, that's industrial, that's got a higher risk profile when when a tenant leaves. But most tenants do stay for an average of 18 years in our buildings. What's a year is this? This is long term hold. You have like a five year exit strategy or anything like this, or you want to hold these and you want hold these forever.
00:30:07:24 - 00:30:26:24
Unknown
And this is just mailbox money. Yeah. And if someone wants to get their money back, I have enough investors that I introduce party to party B and I have them talk to each other and one buys the other one out. We do that about, you know, three or four times a year. Someone calls me and says, Hey, Joel, I need my money.
00:30:27:01 - 00:30:49:00
Unknown
I'm here in California. I've got a son who's struggling and I need to buy him a condo because I'll never have a job. And, you know, I need to get my million out. So I introduce Jim in California to Steve in Boston. And Steve says, I know it's worth a million, but I only pay you 900,000 for your investment.
00:30:49:02 - 00:31:11:16
Unknown
And so Jim says, okay, make it 950. So that's called rule 144. From a security standpoint, it's not selling securities because I'm not offering it to the public. It's when one party buys out another party. And so rule 144 is how people get out. But when they get in, I tell them this we're long term holders for a good reason.
00:31:11:18 - 00:31:30:07
Unknown
The rent goes up every year, the tenants stay. And how do you replace when we find a great building like the the Tampico fruit juice building on the river, how are we going to find a better building than that? Why would you got a lot of money and you have an exit strategy too. So you're right. Someone in that location will eventually pay.
00:31:30:07 - 00:31:51:24
Unknown
I need the developers in the condos. Yeah, and you could review it at the time. You know, it's an option. We have a seven year lease with Tampico, so they're there for seven years from the purchase and there's one next question. What's a typical what kind of lease terms are favorable in this when you when you especially out an acquisition like and you have a new tenant coming in, what is the standard like?
00:31:51:24 - 00:32:12:04
Unknown
What's the what do you typically look at for something like that in terms of what lease terms like time, length of lease, specifically, our average lease is seven years, a new lease with a new tenant. The seven years when we buy a property, sometimes we get three or four years that are left on an a longer lease that's already burned up a little bit.
00:32:12:06 - 00:32:31:07
Unknown
So the risk is the tenant. The risk is look is analyzing the tenant and accepting the right one, because if they go out of business and it's manufacturing, I'm trying to get them the hell out of there. yeah. And I have I have nightmare stories that I get about getting rid of tenants. And you'd be surprised at who the bad tenants are.
00:32:31:09 - 00:32:47:21
Unknown
The worst tenants are the automotive guys. They're they're tough guys. They have to be because people don't trust them. Hey, you're telling me something's wrong with my car or my truck and it's not really wrong and you're lying to me. And then they charge them a lot and then they don't want to pay them and they have to wait to get paid.
00:32:47:23 - 00:33:27:03
Unknown
So the automotive guys are the most difficult. And actually, of the five tenants that I've ever evicted out of hundreds and hundreds of tenants, three were auto guys repair either body shop or repair guys. One guy right now was not paying rent. I love the guy. He's a great guy, but he does custom painting wheels. Like if you buy a really fancy BMW that's all souped up, you might want the the wheels, which are really nice too, to be like a metallic blue, right?
00:33:27:04 - 00:33:41:05
Unknown
Yeah. So he does the painting of those wheels. And I talked to him this morning and I said, Look, you've got to get out of the building. You owe me three months of rent. And I said to my son, I work with my son and I have them come over to your house and paint all your damn wheels.
00:33:41:07 - 00:34:00:07
Unknown
No, no, he is right. 7000 a month. It's a little building. His rent, 7000 a month. Plus he pays the insurance, taxes, the maintenance. He hasn't paid anything for three months. So this morning I was on the phone with them and I said, You got to get out of the building. We're going to evict you. He says, okay, okay, I'll pay.
00:34:00:07 - 00:34:15:10
Unknown
I'll pay. Hey, you know, we had to get tough. We don't do that. We are really good to our tenants. Yeah, but he hasn't paid rent for three months. I have to take a stand. So just a final question in that scenario, because there's no debt on the building, who cares? You know, there's no risk like the investors might not.
00:34:15:10 - 00:34:36:02
Unknown
I mean, there I mean, you obviously care, but there's not like, holy crap, we're losing $20,000. Are you just not generating cash flow? No, actually, it's worse. How do you know? I guess because he's supposed to be paying the taxes, insurance and maintenance. God. And consider those. Right? So the building's a little tiny building. It's 10,000 square feet.
00:34:36:04 - 00:35:01:24
Unknown
The taxes, insurance and maintenance all together. All of that is it's probably $40,000 a year, which is four bucks a foot. But that's $3,000 plus per month. So he owes 9000 in expenses that we have to pay. If he doesn't pay it, plus the rent that we don't get, you know, thank God we don't have a mortgage and nobody to our neck because banks have no sense of humor.
00:35:01:24 - 00:35:19:08
Unknown
You have to pay them right at a mortgage. We we'd be gone. my God, How are we going to pay the mortgage? The guy's not paying the rent. But here's what's happening. I told the investors that we have a projected return of 10% on their money. So if someone puts in 100 grand, they're going to get ten grand a year.
00:35:19:14 - 00:35:40:09
Unknown
We pay it quarterly, so they get 2500 a quarter. And I had to explain to them at the end of the year, this past year, why they didn't get their distribution at the full amount. And so how long is this going to happen, Joel? I mean, I put 100 grand with you so I could make the 10,000 a year.
00:35:40:15 - 00:36:04:20
Unknown
Yeah, didn't make 5000 this year. And by the way and to, to release it, I have to pay a brokerage commission probably to an industrial real estate broker who brings a new tenant. Chances are I have to do a paint job in the office, maybe carpet the office and any little things. And by the way, they may ask for a month or two of free rent is a concession to sign a five year lease and say it's going to take me time to get set.
00:36:04:20 - 00:36:23:08
Unknown
I need some free rent. So retesting is expensive and not collecting is bad. But can you imagine how awful it would be if we had a mortgage? Yeah, that would get ugly. Do you always. Why do you locate the tenant first, or would you buy something with an existing tenant in there and let's say their leases up in two years?
00:36:23:10 - 00:36:46:08
Unknown
We do all of that. All that we bought buildings with one year left, with two years left, with five years left with seven. My preference is to buy a building that's got five or seven years left. It gives us a lot of time to do a lot of things. Sure, Yeah. Very interesting, Joel. I like it. Any other.
00:36:46:09 - 00:37:15:11
Unknown
What would you tell someone listening right now? Just sort of thinking about, you know, maybe they're looking at there's a lot of people making career shift within real estate right now. I think you sort of made a good claim, at least a good pitch for the industrial industry here today. Yeah. Yeah. The other thing I'd like to say is that I love real estate, and in 42 years of career in real estate, I have been so lucky to build these relationships with investors and tenants.
00:37:15:13 - 00:37:38:21
Unknown
It's all about the relationships and that's really the main thing. And I've heard you say that. I've heard you say that. I've listened to you say that that is your main thing. Yes. It's agree with it and it makes sense. And I'm completely on board with all that matters, is taking care of your people and making sure that you care about what's the old saying is Dale Carnegie, Nobody cares how much you know until they know how much you care.
00:37:38:23 - 00:37:59:24
Unknown
Yeah, all of that. Good way to end it. That's right. It doesn't. And this is a relationships and anything in life. I mean, I can't tell you without relationships. There's nothing there. And speaking of relationships, for these guys who are listening, you need to check out my new software referral suite, because that's all it does. It helps you manage, nurture and stay in front of those relationships so they stop forgetting who the hell you are.
00:38:00:01 - 00:38:14:03
Unknown
Because regardless of what business you're in, you have to maintain those relationships. So nobody hires the person they don't feel comfortable with. Everyone hires the person that they're recommended to they know personally or that they've used in the past. And if they are a stranger and they don't know that person, trust me, they're doing a little bit of recon on you.
00:38:14:08 - 00:38:30:13
Unknown
They're looking online and they're asking people about you so called lead generation, at least in the real estate business. It's so highly relationship based. It's a big investment. So people can do that with someone they know they can trust. Awesome. Dude, I appreciate you having coming on the show. Love having fellow Chicago people on and thanks for sharing your insights.
00:38:30:13 - 00:38:47:12
Unknown
I'm going to actually check out a lot more industrial stuff. You open my eyes are to a lot of different ways to look at that and look at it from this point of view. But you opened my eyes in a different light. So I appreciate that. Thanks for listening. I will see you guys next week and another episode of See you then and A's.
00:38:47:15 - 00:39:11:13
Unknown
Thank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:39:11:17 - 00:39:14:12
Unknown
Thanks for watching. Another episode of the podcast will see you next at.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
You Cannot Be Online WITHOUT Retargeting Anymore (Ft. Stephen Whiting)
13 jan· Real Estate Marketing Dude
Marketing is everything, and big part of that is ads. I know, it's a confusing subject, but we are gonna break it down for you. Today, Stephen Whiting joins us to discuss retargeting, potentially the most important thing you can do for your brand.
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Transcript:
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast and welcome. What we going to chat about today is how to follow people around the Internet. Have you ever been shopping? Maybe if you're a woman, you're shopping for shoes. I know you are. Don't lie to me. And if you are, that shoe started following you all over the internet.
00:08:42:18 - 00:09:03:19
Unknown
That's called retargeting. If you're dude, man, I know maybe you're looking at an ax throwing shit banger golf simulator, whatever the hell it is, but also that thing's following you all over the internet. The reason why remarketing is so important is not is because you are not that important. And people might see you, they might interact with you, they might message you once, they might visit your website.
00:09:03:21 - 00:09:22:10
Unknown
But it is such a busy world that literally they're going to forget that they were even there 24 hours later and no one converts on the first touch, much like your significant other did it either. You made her laugh, you dated her, you bought her flowers. I don't know what you did, but you did something. And it happened over multiple touches and eventually you won him over.
00:09:22:12 - 00:09:38:13
Unknown
That's sort of the idea here with retargeting. And what we're going to be chatting about is that how do you get more of your content seen? And then more importantly, how do you make sure it gets to them? Because a lot of people just make but also making content. And if you're not running ads well and your content isn't good organically, well then how is anyone going to see it?
00:09:38:13 - 00:09:56:16
Unknown
So we're going to solve all those problems on today's episode. And without further ado, I want to go ahead and introduce our guest today who is the CEO of Sweet Street Text. Right. Thank you. And Mr. Stephen Whiting, he's really cold right now because he's like in the thunder, like, I think he's like an Antarctica or something. But welcome to the show.
00:09:56:16 - 00:10:14:10
Unknown
Why don't you tell our listeners hello and say tell us a little bit about yourself, what you do. Thanks, Mike. I'm super excited to be here. Yeah, big Arctic front just blew in and the office is freezing. So if it sounds like I am, my teeth are clattering. They most certainly are, yes. So my name is Steve Whiting, as Mike mentioned, CEO of Street Techs.
00:10:14:10 - 00:10:40:09
Unknown
So we make it really, really easy to run effective ads on Instagram and Facebook to generate leads. That's kind of been the main thing that a lot of people know us about. But what they don't really know behind the scenes is that to be successful on those platforms, it's really about building up the content, the no lack of trust and having a lot of rotating content that's going to warm people up and help you convert those leads because you know it's top of funnel and but the industry is changing.
00:10:40:09 - 00:10:58:12
Unknown
You know, a lot of businesses, things are changing in the marketplace. And if you understand the concepts that will go through today and you can put implement them into your business, it's a complete game changer. You go from trying to win business to people like literally thinking of you as a celebrity by the time you walk in and have that listing presentation.
00:10:58:12 - 00:11:13:10
Unknown
Yeah, it's sort of weird. If you do a version with video, you're like, You watch that. Wow, it's crazy. I know you actually watch that. But yes, people will watch your stuff. But here's the key. Guys know like and trust because no one hires a stranger, especially when they're selling like the biggest asset that they're ever going to use with.
00:11:13:12 - 00:11:29:24
Unknown
But here's here's my I don't think you could be online without retargeting today. What's your opinion on that? Yeah, I agree. We actually even say it's probably one the first things you should do. You've got a website, you know, you've got, you know, maybe even you know, you do open houses, you collect names, numbers, you put them in your database.
00:11:30:05 - 00:11:51:22
Unknown
If you've got nothing to stay in front of all of those people automatically, then you're just missing out. They're going to forget who you are. So really what you should be doing even before you leave you generate leads is you should actually have a bunch of content that's out there that when people hit the website or they see something of yours for the first time, you're now circling around them or sticking around them and showing up in all the different places they show up with.
00:11:51:22 - 00:12:13:14
Unknown
Remarketing content and remarketing can seem like a big, complicated process, but it's really not, you know, and it can be done quite simply. There's just a few key audiences that you need and a few pieces of content that you need that are like staples, and then you can just build from there sites and simple and you guys, why this is like really important is think about it's got a real stakes.
00:12:13:15 - 00:12:32:04
Unknown
I think when people get out of their business it's easier for them to that's how it applies to mine. So let's just pretend we were, I don't know, booking a vacation. I was doing something, I think a Travelocity or something like that. One of those sites I was looking for different or maybe was VR bio, something like that was looking for different timeshares type stuff.
00:12:32:06 - 00:12:56:20
Unknown
Anyways, I forgot I was looking at it until I saw it again on like Google. Then I saw it again on Instagram and I saw it again on on Facebook. And I didn't click and engage back in until 930 at night when I actually had the time to do so. You know. So one of these things that I want to start with on this first is just the importance of creating just organic content to sort of go hand in hand with your remarketing content, right?
00:12:56:22 - 00:13:14:17
Unknown
And what happens in today's world and I'd like to get your opinion probably you have way more data on this than I do. But I think when people make a buying decision, whether it's a couch, a vacation, a piece of a house or fucking mortgage, that they go to that guy's Facebook page first because that's almost become today's resume.
00:13:14:23 - 00:13:35:16
Unknown
So to give you an example, I had a guy on yesterday I'm learning about on these podcasts and he has a video pinned to the top of his IG and it's him shooting a gun like an AK 47. Like he's like total, like roughneck. It's part of his brand, right? But that one video converts everybody for him, right?
00:13:35:16 - 00:14:07:05
Unknown
And it's because people relate to it. So do you Here's a question I sort of go around about. Do you think that the use in creating organic content in conjunction with remarketing is necessary, or can I just be remarketing? Yeah, if I kind of build in that on that, I think all the authentic organic content that you already create is perfect for remarketing, you know, I mean, you can have this is why I think people really over complicated.
00:14:07:10 - 00:14:33:09
Unknown
They sort of think about everything as a funnel. You know, you got to see this and then you got to see this and they got to see this. And you can do that. You can do it. But, you know, it's like it's truly the 8020 rule and probably more like 9010. What's more important is that people see you recognize you, you know, they see a variety of pieces of content that kind of rotate over and they don't it doesn't even matter if it's content designed to convert at all.
00:14:33:09 - 00:15:00:15
Unknown
It might just be something like you. Maybe you're you're in the neighborhood talking about some schools or, you know, things that you like in the community. But for just a dollar a day, as an example, you suddenly getting that content in front of the people that matter most to you. They're in your database or in your community where before you know, you put that content out on social and it showed a few people, but then it kind of disappeared down the timeline.
00:15:00:17 - 00:15:15:19
Unknown
I think that's the distinction, is that make sure that if you're going to all the work to create this content, which is truly powerful, you want that scene and you should have it seen. And that Facebook and Instagram and all those platforms, like they're more than happy to take your money, but it's a lot less than you think.
00:15:15:21 - 00:15:34:11
Unknown
You know, when you're running religion campaigns, you probably do spend a bit more. You need to make sure you get enough of, you know, enough sort of conversion events to make sure your ad is performing. But when it comes to remarketing content, a dollar a day goes a long, long way for a lot of for a lot. And most people don't have enough large audiences to retarget.
00:15:34:11 - 00:15:52:05
Unknown
So like we've seen guys is like if you don't have if your website doesn't have a pixel that has at least like 2000 people on it, like you're not going have to spend a lot of money on that, right? Same with like the engagement. Let's go through the types of audiences that we're retargeting because I think people get this confused.
00:15:52:05 - 00:16:19:08
Unknown
And would you mind walking me through your process and break down each audience and why? Like if I'm going to be okay, who am I retargeting? I am sure you get that question. I'll type who who am I going to retarget? So let's break down, who are we retargeting and why are we retargeting them? Well, ideally you want to retarget everybody right for the so like I'm talking to realtors right now, but if you're a real estate agent, you don't know when somebody is going to, you know, they're going through a divorce or they're thinking about selling or buying.
00:16:19:13 - 00:16:39:18
Unknown
You know, you have some of that communication, but largely you're not inside of every one of your leads heads, you know, And so not to stop you, but a.k.a everyone you know. Yeah. Every exam, every relationship you have. Why what does it hurt? Because if you're not thought of first, you already lost a game. Exactly. And there's branding here.
00:16:39:21 - 00:17:09:07
Unknown
We're talking about branding, brand awareness, branding, branding, branding, branding. And you know, it's crazy is like I think a lot of people forget, like even in their database, if you've got a thousand leads in your database, it's not even a thousand leads. Those leads know somebody, right? And so a lot of those people might have a mom or dad that are downsizing or, you know, they're looking to get their they have a good friend that's maybe going through something a big life event and there and that person to ask me within know any good realtors or good agents and you go you know like see all the time.
00:17:09:08 - 00:17:29:21
Unknown
Right. And so you need to I think from a branding standpoint, it's a staple, you know, I think for a lot of people, too, you got to kind of take off. You're a real estate agent and put on a marketing hat. And just like Darren Hard, he's got this great quote, which is you don't make money from the products you sell, you make money from marketing the products and services that you sell.
00:17:29:23 - 00:17:47:15
Unknown
And it's a small but subtle distinction there. I think it's really powerful, which is always think about how your marketing, you should thinking about marketing first and you will make money on everything else. And if you can be in front of everybody 24 seven and it's not that hard to do to you will stand up from everybody else.
00:17:47:17 - 00:18:03:24
Unknown
And so I think that's kind of like the first thing just to get in his head so we can jump into the audiences. But ideally, from a branding standpoint, it's going to be a lot cheaper than branding on a bus ad or a billboard ad or something else. You know, if you've got a head to pieces of content, you're rotating those automatically.
00:18:03:24 - 00:18:25:01
Unknown
I mean, our system can obviously help do that. But at a dollar a day and or maybe $2 a day, depending on the size of your audience, and of course, it can go bigger, but you can see that, you know, the system will help you make those decisions. So helping your audiences. But first, think of everybody, everybody, your database, everybody on your website, and then everybody that's engaging with that content.
00:18:25:03 - 00:18:42:24
Unknown
So, for example, if people are commenting, liking, maybe clicking on your ad, some of your ads, but not really becoming a lead or maybe checking out your website, you sort of want that wiped in that net. And then what's cool about it is it'll start to grow as more people engage with more and more of the content, it gets wider and wider.
00:18:42:24 - 00:19:01:20
Unknown
And that's why people that you see online that have you just seem to see them everywhere all the time. They are organic. Content is performing really well, their pay content's performing really well is because expanding and expanding and expanding, you know, over time and it doesn't happen overnight. And I think that's where a lot of people stop is like, I want this to happen tomorrow.
00:19:01:20 - 00:19:19:17
Unknown
Like we'll have people will shoot a video for it's like their first video on their YouTube channel and they'll be like, everybody calls you dude, you don't have a gentleman like your first video got, you know, chill out. You don't get a six pack on your first workout either. You need to like got to it takes time. You got to massage it.
00:19:19:17 - 00:19:43:18
Unknown
You have to build the brand. You got to turn it into a six pack. You need to be chiseled. It needs to be worked on, it needs to be strengthened. It needs to be conditioned. And the only thing that can do that is content. Yeah, from a branding perspective. Question on Yeah, sorry, go ahead, Mike. On the and just to clarify for you guys listening, so we're saying we want to put ads, we want your face to appear in front everyone who's ever visited your website and yes, you need a damn website.
00:19:43:18 - 00:20:00:22
Unknown
You're in business. If you don't have a website, you don't have a business, you're just a salesperson chasing the check and don't use the brokers page on their brokers website because that's terrible. You have to build your own website if you want to build a business. Sorry, no, I lost my train of thought. I got pissed off about these websites.
00:20:00:24 - 00:20:17:14
Unknown
people who have engaged with your stuff. So if someone saw one of your pieces of content, you could retarget people who've watched a certain percentage or of a video. For example, or who have like commented and also your database, you can upload your list of people, your friends, your family could upload your wedding list. That's the best, that's the best one to retarget.
00:20:17:16 - 00:20:41:04
Unknown
But costs this is a lot because there's not a lot of people there. Right? But what type of content? Because I think people are stuck being like, what do you mean they're going to they're not just going to assume I'm in real estate, Like they overthink this piece. So I want to see what you in terms of content that performs the best, whether it's engagement, lead generation, whatever, just let me know what what kind of content am I going to remarket myself with?
00:20:41:04 - 00:21:06:00
Unknown
Stephen Okay, so let's that's a great question. And also I get a little bit technical here. We'll dive into one of the things that our system does really well is we aggregate all of the data on specific types of content. So if you log in to our system, you can actually see how different types of content is performing and if you're if you focus a little bit more on the Legion side, you can even see what agents are running across North America, what they're paying for, leads, etc., within the system.
00:21:06:00 - 00:21:29:08
Unknown
And so that's pretty powerful. But one of the things that I didn't realize when we really got heavy into the remarketing side is I had a lot of assumptions about what type of content was going to perform really well. So for instance, I did not think that if we marketed content that was lead gen like sort of would focus on getting leads, especially since you already had that, that it leads to probation, that it would work and actually works really well.
00:21:29:10 - 00:21:49:15
Unknown
I had no idea that the engagement content was going to work so well. It's just driving people back to your website where you're not collecting a lead is just a click to your website. People watching a video. But I had no idea how many people were actually going to go back to your website and watch it. And then furthermore, I had no idea how many video views you would get on some of the, you know, just some of the content about the neighborhoods.
00:21:49:15 - 00:22:11:13
Unknown
Right. And you even mentioned there that, you know, whenever people watch a video, you can remarket even those people. So what's so powerful back to that expanding audience is that you don't even know who's watching some of this content. But you'd be surprised at how how many video views you get and if you set up and the system can do this automatically for you, it can update all your video.
00:22:11:13 - 00:22:33:20
Unknown
So, for example, if people have watched 50% of all your videos, you can now remarket to those people as well. And it can all be done automatically like one click. This is audience's work. That's kind of how we designed the system to make it as simple as possible. So I guess what kind of content works? Well, we created a whole bunch of PDF ads that are in the system one click apply, you know, and they're valuable resources.
00:22:33:20 - 00:22:49:10
Unknown
They're like staples, I guess we say, you know, five tips to why you sell your hallmark. You know, like how to improve your curb appeal, all that kind of stuff. You can build them yourself, but street decks has them. You can one click deploy them. There's a whole bunch of them out there that you can create and kind of remarket to.
00:22:49:12 - 00:23:06:19
Unknown
But in addition to that, you know, any and all of your organic content, you've already created, and this could be even two years ago, our system can actually look at how many comments like shares did you have on that content. What you can actually do is you can you can then view it and this might have been something you created like a year ago, but it got a lot of engagement.
00:23:06:21 - 00:23:24:09
Unknown
Click on it, turn it into an app, link it to your audience as our system. I hope you do this. It's really easy. And now suddenly you're using content you already created a year ago as part of your remarketing, and now you're keeping that content in front of everybody from that day forward and you can rotate it. So it's not like you're showing all these ads, all the time.
00:23:24:11 - 00:23:45:21
Unknown
You can actually have them rotate. So, you know, one week will show this ad the next week or so, this ad and so forth. Yeah, you guys got if you're retired, you gotta be running multiple different types of ads to those people. So here's some interesting data I have. I just pulled up some ads I'm running. I cut my lead cost per book call from an average of $120 of book called down to $24 a book call.
00:23:45:21 - 00:24:07:22
Unknown
I didn't realize it was even this low. And that is so literally what is that like a 500% rate of cut? Right. And I'm only spending $10 a day on the book calls for each audience. I'm retargeting and the audience that's performing the best is people who have watched 50% or more of our videos. You know, video views are more powerful than an email address.
00:24:07:22 - 00:24:27:07
Unknown
In other words, is what I'm saying to you guys, that attention that we're retargeting people with for these ads is actually generating better results than people whose email addresses we already have. Yeah, it's crazy how we we see that a lot too. I mean, a lot of people, when they come to our system, you know, they know this print ads, they'll run like a whole value ad Right.
00:24:27:09 - 00:24:44:14
Unknown
But then they're surprised that people are answering the phone or, you know, I chase them down and whatnot. But really what you should be doing is exactly, to your point, is running a bunch of content and then showing the whole value add to people that have watched all your content. And guess what? They click through, they talk to you when you when you follow them, when you reach out to them.
00:24:44:14 - 00:25:07:01
Unknown
In fact, they're actually excited to hear from you. It's a game changer, Just that little subtle difference. Yeah, it is. It's and, and you don't. I think the biggest thing is people get so generally surprised when they, like, see the results of just creating content in general because I think a lot of you don't think you're that interesting, but you are, you know, and it just it's literally mindset.
00:25:07:03 - 00:25:23:07
Unknown
I never thought I'd be interesting people as in this fucking show, I guess I'm like, Great, thanks guys. But like your, your point, I when I jumped on this call, the first thing I said to you was I had some great laugh out loud moments. You know, this looks into your podcast, you know, getting ready for the show.
00:25:23:07 - 00:25:43:24
Unknown
So I think you be it to exactly your point. I mean, you're just being who you are, being yourself. And, you know, people actually know I liked you. Well, before I ever joined this podcast, I was excited to meet. That's how every conversation goes, because there's content out there like there always feel like every time. There's always like a bro moment before we press record.
00:25:43:24 - 00:26:05:10
Unknown
Like, What's up, bro? Ridge And then you're like, looking like, we're boys, right? We just met, but that's what content does for you guys because you literally will attract people that are just like you. It's just how it works. It's just it's the way the world works in general is like people, birds of a feather flock together. Like that's it's still the same thing.
00:26:05:10 - 00:26:26:13
Unknown
Like people tend to flock towards people. They are like, so don't overthink it. It's really that that simple. I got a question on how to build audiences. What if you're brand new and we're talking about retargeting ads, but to create retargeting ads, you first need to create audiences. All right, So you got I don't want to put the cart before the horse or the horse for the cart, whatever the right side is.
00:26:26:15 - 00:26:43:03
Unknown
Walk me through that first ad like how do you generate What should I do first? Like if I'm starting a brand new brand Facebook page, let's just say I'm in a brand new market. This is an undoable and it could take longer. Yeah, but you still have to have an initial ad to build these audiences. So what do you see?
00:26:43:05 - 00:26:59:21
Unknown
What are you guys doing and what do you think works best in that sense? Yeah, if you're if you're fully, fully brand new, you know, not a lot of traffic, your website and you know, and again, you should have your own website and your work website, but not a lot of traffic to your website and or, you know, not a lot of anything on your Facebook page.
00:26:59:23 - 00:27:26:14
Unknown
Then we we just we help people run initial ads, legion ads. You know, you're going to build that. You're going to build leads. But in addition to that, remember, when you're running ads on Facebook and Instagram, there's a lot of people that see your ads, maybe click on your ad, but don't become a lead. But those people are still becoming a part of your audience and maybe they never go to your website, but there's a really wonderful audience out there in the metal world, like the Facebook engagement audience.
00:27:26:16 - 00:27:44:19
Unknown
And again, that's a one click create in street tech. So you can just click it. And what's Facebook will do is over a course of a year. So 30 to 65 days, it's going to keep a tally of everybody that clicks, comments, likes, engages, and you're able to even begin to remarket to those people in addition to the leads that you're generating.
00:27:44:19 - 00:27:59:12
Unknown
But that's where I would start from day one, because you don't have that audience. If you're lucky enough to have a large database, you know, you could start to use that already. But again, if you have nothing, then you know, you're going to just start on the Legion site. You're going to build that audience, but you'll be surprised how quickly it starts to build.
00:27:59:14 - 00:28:23:00
Unknown
And once you've got a bunch of people in as a lead, you've got probably another 5000 people behind the scenes that are now have been like on your website or haven't become a lead or viewed an ad and now you can begin to remarket to them or people that watch some of your content. The other thing is there's you know you you should already be creating content and I've heard this in your show a million times, like you should be creating organic content regardless.
00:28:23:02 - 00:28:46:19
Unknown
I mean, it's hard to go after every channel all at once. But but, but this by creating content, is sort of a must back to that marketing side. So whether you're posting on YouTube or on Facebook or on Instagram, you should be doing that. And then some of that organic content can become your first remarketing pieces, the stuff that starts to hit and do well, you don't have to overthink it.
00:28:46:21 - 00:29:02:17
Unknown
I mean, I'm going to talk about our system a lot because it's the way we designed it, but our system can see that and then pull that in, create an ad out of it, link it to an audience and now rotate it. And that, you know, so a lot of the organic stuff you're now actually creating is actually going to become free market content in the days to come.
00:29:02:20 - 00:29:21:15
Unknown
So you could just let's just play it out. So. Jan Well, today I'm going to create content till February 12th and then in the last 30 days, I mean, to look back and see, hey, which one actually create the most engagement, which one, which one that people like the most, because it sort of proves it organically. If you, if you prove the point organically, then that's the one you put the dollar a day behind.
00:29:21:15 - 00:29:47:19
Unknown
Right. So what you're saying. Exactly. Yeah. Yeah, exactly. I like it. Do you you know, let's talk about a little bit about the importance like just talk about the lifetime like of a lead. Like I want people to really understand the, the perspective here on what people opt into, because I agree. I think it's the personalized content that once people, once you get on their radar, the more human you become.
00:29:47:23 - 00:30:08:16
Unknown
I feel like is when people really gravitate towards that person because it's different in other industries. This is a relationship business, like real estate industry. I consider more like a commodity. You're fighting on brand because everyone is on the same shirt very similarly, Attorney market insurance providers, independent contractors in general compete on brand. You have a unique selling proposition.
00:30:08:17 - 00:30:25:23
Unknown
You have a service, you have a software, I have a software. So we would sell, it'd be more of a different types of funnel based on sales and value ads and all that. What we're talking about here is a lot easier than than the way that I have to market our software. I'm sure you how you market street tax, it's a lot easier because all you need to do is get your face out there.
00:30:25:23 - 00:30:45:21
Unknown
So what we're saying, you guys, you know, it's not so much about what your face is doing, it's just that it's there in the face of the brand. Do you see a difference between the content where like the agent is actually in either the video or picture of the image versus them being absent from it? Yeah. yeah.
00:30:45:21 - 00:31:05:01
Unknown
No, you definitely want to be in the content wherever possible. But kind of back to that point though, and this is again why I think a lot of agents overthink it, just the fact that you have content out there that we have so many stories of people that have even lost are one click kind of like PDF content, which would not be your face, and they do their due diligence.
00:31:05:01 - 00:31:31:02
Unknown
And the reason is, is that your next deal is probably already set in your database and is another deal. After that send you database. You just need to remind them that you're there and that you're always there, right? And you're omnipresent. You really don't have to overthink the content. I think exactly. To your point, from a commodity standpoint, you just want to make sure you're top of mind and then you can begin to build out more of the kind of like the content you've always dreamed about building out.
00:31:31:04 - 00:31:56:20
Unknown
But don't, don't has it? Like I wouldn't wait until you've got all that perfect, like, you know, 12 pieces of content that are, you know, exactly the way you wanted it for your community. You'll get there, but just just run some stuff that is now remarketing in front of your database or people that are really engaging. And you'll be surprised at how many people will start to say to you, even in your community or, you know, Home Depot or whatever, I saw that, you know, your ad or I saw that piece of content.
00:31:56:22 - 00:32:17:17
Unknown
You'll be surprised at how far it goes and how much business will generate just from that alone. Yeah, it's as simple as literally just talking about what's going on in your community this weekend. New restaurant openings, new business openings, new neighborhood developer ads. That's it. Like be a tour guide, don't be a realtor. And then just how would a tour guide market their business if your job was to sell the city, not the real estate within it, what would you do?
00:32:17:23 - 00:32:37:17
Unknown
That's your marketing plan. You know, you hear a lot about like bottom of the funnel leads and top of the funnel leads. And you know, if you've heard that a lot as a real estate agent, I'm a big fan of top of funnel, like Bottom of the Funnel is awesome because you know, somebody is that much closer to the transaction and there's been a lot of systems that have been really good for that out of the past.
00:32:37:17 - 00:32:52:19
Unknown
But I think some of that started changed out a little bit. It's getting really expensive, but nonetheless, you can get that, you know, but you pay a lot more for it, but you get a deal that much closer. But if you can truly own the top of the funnel and you put on that marketing hat and you think to yourself, I don't want a database of a thousand people.
00:32:52:19 - 00:33:09:17
Unknown
I want a database of a hundred thousand people, right? Like I want to own I want to be a marketing engine where, you know, over time I want that database to be as big as possible. So any message that I ever send out an email that I send out or whatever else I do, there's so much business that's sitting inside of that database.
00:33:09:19 - 00:33:33:10
Unknown
And when people are coming into your ecosystem either as a lead or as part of the remarketing campaigns you're running, some people are, you know, a month out, some people are six months out, some people are a year out. But if you've got that content in front of them on an ongoing basis, you will pick up so many of those deals and a lot of people generate leads and they go to all the effort of having these big databases, but they don't remarket to them.
00:33:33:12 - 00:34:11:13
Unknown
So they only capture maybe 15 or 20% of what's in there, or if you're just in front of them with content. And I mean, we can talk about the content. I mean, there are there are elements to the content that help, of course. And I know you've covered a lot of in the podcast prior. I just really wanted that, you know, get the point home that if you have some simple audiences that you remarking to and you get some content out, you're you're already ahead of 80% of people read any closing thoughts that you want to add in here closing thoughts so again yeah the audience is you need just retarget your website you know,
00:34:11:15 - 00:34:41:22
Unknown
simple as having a pixel on your website. The engagement is like a one click and there's you can do a one as well just to make sure that all of your videos that you create, you can remarket to them nice and simple. You know, if I mean, I don't want to talk too much about the product, but if you use tools like up on that can all integrate really nicely as an example where if you've got you might actually have segments of audiences that you really want to go after, people that are like a lead stage or maybe even a past customer, you can actually create specific content around them too.
00:34:41:23 - 00:35:03:01
Unknown
So if you want to learn more about that, I mean, you can definitely check us out and we can we can help you through that. Appreciate you coming on the show and we appreciate you listening to another episode. Yeah, I, I agree, dude, this is I think it was very, very, very well put. And it's very simple, you guys, to stay in front of everybody, whether they're leads, friends, family, answer, uncles, doesn't really matter.
00:35:03:03 - 00:35:26:21
Unknown
The more people that know what you do, the more that opportunities that come your way. It's really simple. You got to remind, not tell. And when you could create content that does that, that'll typically do the trick. So if you guys like the idea of what we're talking about today and you like the idea of just reminding your database, I'm talking about your S.O., your wedding list, your family lists, people that you would invite to your wedding or funeral with an unlimited budget for both, you need to visit our software referral suite.
00:35:26:23 - 00:35:44:21
Unknown
That's referral S.W.A.T. dot com. It is giving you the social media content to create each and every month video email content each and every month, and the direct mail content to be automated to your database each and every month so that people stop forgetting who the fuck you are and start remembering and more importantly, start sending you their friends and family.
00:35:45:02 - 00:36:04:17
Unknown
So visit our site and follow the steps. And it's very simple. Appreciate guys listening. We'll see you guys next week's show. Paste Thank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW dot Real estate Marketing dude dot com.
00:36:04:21 - 00:36:20:10
Unknown
We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching. Another episode of the podcast will see you next at.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Build An Empire With Your Personal Brand
6 jan· Real Estate Marketing Dude
We talk about building a brand all the time, but what can you do with that brand? Today we are talking about turning that brand into an empire.
Resource
Henry Street Creative
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
What is up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast, and welcome to 2024, folks. Since all it's been ten years, especially this year, this podcast has been on the ground and I'm going to start this year off where I started off 14 or ten fucking years ago in 2014. And back then we were talking about the same damn thing that we're still talking about today.
00:04:40:08 - 00:04:55:20
Unknown
But back then people thought I was crazy because they're like, Who the fuck are you? And more importantly, what the hell is a personal brand? I'm a real estate salesperson. I don't need a brand. My brokers, my brand, women screaming the saying. So I think it's a very appropriate episode because your personal brand has never been more important.
00:04:55:20 - 00:05:11:16
Unknown
Because no one hires your broker, they hire you. You're the individual that they work with, and you're the person that they remember of. And the goal here is that when I time the word real estate is thought about how many people really associate your name with that, that's what we're talking about with personal branding. So I want to start the year off with a bang.
00:05:11:16 - 00:05:27:19
Unknown
We brought on one of the most experts in this field. His name is Mr. Tyler Mount, and we're going to talk personal branding and how you can build an empire with it. Tyler What's up, man? I want you to run a little bit about who you are, where are you from, and what the fuck do you do? Well, look, thanks for having me.
00:05:27:19 - 00:05:52:07
Unknown
I love the energy. You know, I've worked in digital marketing, specifically real estate. Digital marketing. For the better part of 15 years, I've been fortunate enough to work with nearly a thousand clients in 16 countries. I've represented over $7 billion in real estate developments across the nation. And you know what I have found working with whether it's the CEO of T-Mobile, the the president of the United States, the CEO of Twitter, now known as X ray.
00:05:52:09 - 00:06:09:18
Unknown
You know, what I've learned is the power of personal brand. I want to just double down on what you started with today. No one cares what you're talking brokerage, right? The idea that someone is hiring you because you're a Keller. Keller Williams is a misnomer, right? Because you can write a contract doesn't make you special. An idiot out of high school could do that.
00:06:09:22 - 00:06:29:14
Unknown
What actually makes you special and what makes you important is the personal side humanity of you, and how we can really start to encapsulate that in your brand and get people to know I can trust you in order to transact with you. That's right. No one remembers what you did there. Remember how you do it. No one remembers what you said or how he said.
00:06:29:16 - 00:06:42:11
Unknown
So let's dig deeper because a lot of people sort of I feel like people understand like what a brand is, but they don't like they hear this term. It's almost like a buzzword because it is a little bit complicated. Like and here's let's just break it down to basics here. Here's where I see I will get your opinion.
00:06:42:11 - 00:07:02:13
Unknown
Seriously, most people, when they think of their personal brand, they don't in that they don't visualize their individualism. I guess, if you want to say as a brand, because they're like, I'm a dad, I'm a father, I'm stressed out human being and I'm just a person in the rat race here. How the hell am I? BRAND And you have to realize, folks, is that you are the brand.
00:07:02:13 - 00:07:18:20
Unknown
Your brand is your persona. It's how many people think or associate you with anything else that it stands for. And we don't look at ourselves as a business. We look at ourselves as a human. And that's a number one problem in the whole business. Look at Josh Altman, for example. We think Josh Altman actually goes on a listing presentation or he just fucking shows up and tells them where to sign.
00:07:19:00 - 00:07:41:22
Unknown
That's having a brand now. Josh had whatever Bravo helped build his brand. That's why he is what he is today. But it took that content creation that that media, that attention, that recognition to give him that status today. So when you walk into a room, you know how big your brand is because basically I look at it as like you're not going get as many questions.
00:07:41:24 - 00:07:56:04
Unknown
Then if you if you have a brand is if not, people start to look up to you as the expert. Another way to look at it is like I use this example when we use it for video clients, I'll be like, I'm not a chef, but I guarantee you if I shot seven videos and put them all in front of you, you would think I was.
00:07:56:06 - 00:08:13:11
Unknown
That's the power of a brand, right? So what we're talking about here, guys, is how do you create that? How do you create that persona that that, that, that thing, that buzz that everyone's like, that's that real estate guy or that's that letter or That's that one guy or That's that guy. That's that guy. What makes that happen is working that.
00:08:13:13 - 00:08:31:23
Unknown
Yeah. And you know, I just want to echo what you said because it's it's exactly the basis of my philosophy. I always start with reminding people that user perception is truth. I didn't say factually accurate to your point about saying I could convince people I'm a chef. That's certainly the case. And that's really, really good news for some.
00:08:31:23 - 00:08:53:13
Unknown
I work with a lot of immature real estate agents and they're concerned about their production history. I don't care. Let's create the most epic digital epicenter so that people assume you're the best, right? The second thing I want to stress is I work with a lot of legacy providers, people who are in the top 1% of providers in their market and their marketing ecosystem is shit, but they're still in the top 5% and they think that's fine.
00:08:53:13 - 00:09:15:24
Unknown
The reality is they could never quantify the amount of people who hit the floor. That wouldn't have hit the floor if they had a fucking website or a social media that didn't look at the kindergartner do it, did it? You know, I will tell you, I represent Ryan Sarhan. The most followed real estate brand on earth. And what we focus on there is really granularly focusing on consistent content.
00:09:15:24 - 00:09:35:23
Unknown
How do we remain top of mind and how do we make Ryan appear to be the best in the world? Not only do I think he's the best in the world, but his media and his marketing efforts absolutely reflect that. That's why he has literally the most expensive single family listing in the country right now, right here in New York City.
00:09:36:00 - 00:09:53:01
Unknown
Well said. Let's talk about that, because like Ryan, you see him, you're like, this guy just oozes luxury. It's in the clothes he wears. It's in the watch he wears. It's the way he carries himself. You know what I mean? And like people at the end of the day, if the camera's on or off, is Ryan still not the same person?
00:09:53:03 - 00:10:18:08
Unknown
100%. What I will tell you is we always do a master class in authenticity. Ryan in front of the camera and behind the camera is the same person. He's gracious, he's kind, he's wildly intelligent. He is that experienced salesperson, but he's also funny and irreverent and kooky and all things that he is in front of the camera. We focus on that authenticity to build this most valued brand, and you build a large brand without authenticity.
00:10:18:10 - 00:10:38:12
Unknown
Absolutely not. It's absolutely impossible. You can build a brand, don't get me wrong, but can you really build the brand that you could have if you followed your authentic truth? No. And the reason is quite simple because no matter who you are, whether you're a man and women hate working with you or you're maybe a woman and men hate working with you, you're a Democrat or Republican.
00:10:38:12 - 00:10:56:19
Unknown
Pro-Choice, pro-life, rich, poor, decent fucking matter. There are people on earth who are not going to want to work with you because of who you are. So if you're trying to be someone else, you're already ostracizing a certain group of people and you're never going to be as good acting like Ryan or acting like me or acting like you as we are authentically being ourselves.
00:10:57:00 - 00:11:26:22
Unknown
So you might as well authentically own who you are and the niche the following that enjoys your authentic truth will follow, will gravitate. And that's how you build your niche and how you build. But but wait. I'm going to turn off some people in that process, wouldn't I? Then wouldn't that be bad for business? Well, of course you're going to turn off people, but like I said, if me being gay turns off people, me being straight turns off gay people who only want to work with the gay strategist, like ultimately, no matter who I am, no matter what I do, you were ostracized.
00:11:26:22 - 00:11:46:07
Unknown
And that is the biggest question I get. People are like, exactly like you said, well, I'm a really fucking nervous. What if me being, I don't know, a veteran or devout Christian or Muslim or whatever, I am ostracized as people. The answer is it will. But if we don't focus on our authentic truth, we're just going to be inauthentic and still ostracize people for a different reason.
00:11:46:08 - 00:12:00:16
Unknown
That's what we focus on. You're not supposed to relate with everybody. Guys like you're not wired that way, and that's not the way God made us. Like you're supposed to piss off some people. I would actually like telling people like, Hey, like if you're branding doesn't like piss some people off, that you're not you to do a good job in the first place.
00:12:00:16 - 00:12:18:12
Unknown
Like look at my podcast as real estate marketing dude. And there's so many people have told me over the years, that's so unprofessional, so unprofessional. Guess what? Hey guys, if you're still saying that, fuck off. You know, I got 101.5 million downloads on this podcast just being authentic, right? And it's because it's just the way I talk. I'm from Chicago.
00:12:18:12 - 00:12:37:09
Unknown
This is how I talk. Whether the camera's on or where the camera's off. I have a potty mouth, but I don't hold back. I cleaned it up over the years quite a bit. As my brand has changed. However, overall, I'm still fucking dude at the end of the day. And those of you who listen to this podcast is a reason why you listen to this and you've been coming back and writing in all these reviews is because you follow the authenticity of it.
00:12:37:11 - 00:12:50:19
Unknown
But trust me, there are just as many of you who send me hate mail as there are that send compliments. Like, as a matter of fact, I have a guy booked a show with just yesterday and these are the messages I like. I like seeing. And this is when, you know, the branding is on this guy. This guy's from Nebraska.
00:12:50:21 - 00:13:17:07
Unknown
He's Christian, big Christian. I've seen a lot of my content lately and he and he writes me, you guys did this month and he writes he goes, Dude, I know you don't know who I am. I'd love to have a show up show up on your podcast. But I mean, listen, you for the last few years and I started doing videos because of what you said and because of that, my business has grown and I never would have thought some fucking guy from some podcasts where is in to show me this way Now I'm having him on the show to interview him, but each one of them says the same fucking thing.
00:13:17:07 - 00:13:34:22
Unknown
They say, Thanks for letting me just be me. Thanks for letting me. It's just it's usually somewhere around those lines. And then I know why people think so hard about this stuff because we don't overthink a conversation we're having with someone. John Doe down the street right? Yeah, but never it like. I'm mean, you are just. Just. Matt, have we ever met before?
00:13:34:24 - 00:13:49:19
Unknown
No, we haven't. I can be honest. I can guarantee you that you and I can talk for fucking 4 hours just on this topic, just going back and forth. But the same way we're talking with the record on is the same way we would talk in a diner or a restaurant. And that's the problem I think people have.
00:13:49:19 - 00:14:05:24
Unknown
It's like they overthink this thing. How do you help them overcome that? Well, look, you know, to your point, one of my favorite phrases is haters make you famous. Like, truthfully, they're all haters. That I. I put that on a t shirt. Absolutely. I mean, I should I should trademark it and we can split the profits. I love it.
00:14:06:04 - 00:14:31:17
Unknown
You know. You know, ultimately what I would focus on is at the beginning of my career, I was the person who wasn't authentic. Right? I wanted to appease everyone. Now, when I keynote, I strike out the line in the writer that says, I can't curse because unfortunately, I'm not here to curse. I'm just authentic. That's Homeland. And and ultimately, what I will remind everyone is to answer your question, how do we overcome this issue?
00:14:31:22 - 00:14:48:24
Unknown
Well, we first have to test it out. We have to be bold enough to have the balls to do it. And then we'll start realizing and I mean this with the most respect that no one fucking cares about you right now. There are people in your life care about you. Your mom loves you. Probably your dad probably loves you, maybe not.
00:14:48:24 - 00:15:06:02
Unknown
I don't know. The moral of the story is no one is at home thinking about you like I would wish. Tonight. You go to bed, put your head on the pillow, and really think about me for 45 minutes. You might think about me tomorrow. And the editor for this podcast asked a question about the episode. But outside of that, you're not going to look.
00:15:06:02 - 00:15:26:07
Unknown
Tyler had a potty mouth of Tyler's gay or what is that like? No one cares. And that's what I remind people. And that's what you remind people of even in their social content. I have people who are like, Well, I didn't post anything this month because I just like completely frozen because of my hair. I'm like, the average person is spending less than one fucking seconds on your Instagram.
00:15:26:07 - 00:15:43:23
Unknown
Literally. That's not an exaggeration. We're talking about point seven, 5 seconds. The idea that they're thinking about you 5 seconds later after they've looked at seven other pieces of content, much less 5 hours, much less five days is a misnomer and gives yourself a far more value in their life than you think. But also that should be the best news to hear.
00:15:44:01 - 00:16:09:19
Unknown
We really, unless we do something so polarizing, we awful people don't remember. And so the goal is to remind them consistently you're alive, well, and able to transact. And that's how we focus on our brand through consistency. Love it, guys. AKA, you're not that important. my God. I guess I'm not that important at all. Like, here. Let's just give you guys an exercise.
00:16:09:19 - 00:16:32:06
Unknown
And I honestly do this exercise literally, that's going to take you a whole 10 seconds. Do you remember the context of one video you saw yesterday on social media? I mean, it's physically impossible. Yeah, I don't I've seen like, which one? Like then I think about like, like I saw like 100 videos on social media. The last thing the last thing I'm thinking about is some dude's hair out of place or like, some dude's, like, shirt and tie or some guy said a word I don't agree with.
00:16:32:06 - 00:16:52:20
Unknown
Like, who cares? Yeah, well, well said. Because what you also see is, like, I also feel too like there's a lot of people that do it with video. It's perfect. Like we do so many videos like and now we're doing all attorneys on videos and maybe doing real estate videos for agents. But it's funny because you see an agent side and you see an attorney side.
00:16:52:20 - 00:17:12:24
Unknown
They're both professionals, but they both ultimately work for themselves. But from a business perspective, in creating content, they're identical. Everyone had to have the exact same issues and they're always more like, my God, I'm so worried about what I say. It's like, Dude, it doesn't matter. Talk to me about consistency though, because that is the key to this, is that some of your content will fall on deaf ears or just be horrible.
00:17:12:24 - 00:17:37:20
Unknown
You're going to regret you ever created it, right? That's part of the game, isn't it? Yeah, absolutely. If we're not consistent, you know, consistency is it's twofold, right? Consistency not only positively influences the algorithm that improves our likelihood of being served to like minded content creators, But most importantly, it allows us to buy more lottery tickets. Right? We can't win the lottery and go viral unless we're playing it.
00:17:37:20 - 00:17:53:12
Unknown
We are more likely to win the lottery if we buy multiple tickets. Right. And I will tell you the few things that I've done in my personal career that have gone viral have never been the things that I thought would. They're the shitty pieces of content. I didn't think about posting the ones that they spent exorbitant amounts of time, energy and resources on.
00:17:53:16 - 00:18:25:17
Unknown
Oftentimes not all the time, but oftentimes fall on deaf ears. And it really is half science, half pseudoscience and chance and what resonates and what is relatable to audiences. So what I always focus on is consistency. If we are consistently posting, let's say, seven times a week across all of these platforms, not only even if these don't perform as well as we want them to compounded, we're serving an exorbitantly higher rate of impressions and engagements over the month, which compounds over years, which compounds over decades, and that's how we grow the personal brand.
00:18:25:22 - 00:18:42:09
Unknown
I want people to know about me before I even get on the call. I want them to be excited to talk to me before they get on the call. I want someone to understand who I am in the context of who I am and the energy I bring before I get on the call. And honestly, that saves me so much time because if you see my content, you're like too much energy to go to X, Y, and Z.
00:18:42:12 - 00:18:57:00
Unknown
Then guess what? You're never booking that call. This gives me 30 minutes of my life to talk to someone who I'm actually going to be able to book. Yeah, I mean, you're exactly right. It's almost like you call out your people ahead of time. And because people aren't going to like, Have you ever put it this way, guys?
00:18:57:00 - 00:19:14:08
Unknown
Like, have you ever, like, just met somebody or just like, I don't care what the hell they say. I'm just not going to get along with them, Right? You know what I mean? And it's just it's just normal that it's okay. It's okay. It's okay. That's fine when you have your content out. So but the content really works in twofold full, doesn't it?
00:19:14:08 - 00:19:31:14
Unknown
Because one is the creating to stay consistent. But and that usually what happens in practice is like when someone gets you get on someone's radar, when you really have an active buyer or seller in your world or for me, a branding or video client for you saying whatever that person fucking stalks you before they reach out to you.
00:19:31:14 - 00:19:50:00
Unknown
Right? And this is also where people shortchange the amount of content creation and the multipurpose in of it over time is because, like, let's just say I'm going to hire Tyler, I want to hire Henry Street to do my branding and story, right? sure. And I'm sure this isn't a cheap process. Like, I'm trying to sell your shit right here, but I'm sure it's a few thousand bucks to say that.
00:19:50:00 - 00:20:05:07
Unknown
To say that, to say the name just to start. Right. I'm sure there's a couple thousand bucks a month. Great. If I really dig into one of your pieces of context, I'm on your Web site right now. I have to get along with you first before I actually schedule or book that call. So and it happens nine times.
00:20:05:07 - 00:20:22:06
Unknown
Like I'm going to go to your Instagram page or Facebook page. I mean, look at all the rails you've created and then I'm going to get hooked. And people do that with this podcast all the time that I just been watching your podcast, bro. Like it was fucking amazing. Like, great, great. Why did you binge watch it? Because you're in a buying decision, right?
00:20:22:06 - 00:20:43:21
Unknown
And the content, it has to be multipurpose. So like, I'll see people to I want to get your opinion on this because now we have a lot of video images, what kind of content you create, right? Just on social. But I believe that you should create multipurpose across all your channels nonstop. And you have to be everywhere you're at because you never know where that person is going to come from.
00:20:43:23 - 00:21:02:04
Unknown
You don't know where the next deal is going to come from. But that little split second of your face, meeting them on a news feed or something like that literally, literally, is the difference between getting a call and not nine times out of ten? Yeah, absolutely. I always say we can't control the way people enter our ecosystem. We can only control the narrative once they're there.
00:21:02:09 - 00:21:35:24
Unknown
The first thing I do with a new client is really focus on user perception. So I will listen to them talk about X, Y, and Z and how great they are, and I'll go, Great, all of that's fine. You're never going to get that 15 minutes with the client. Let's open an incognito browser, let's Google you. And nine times out of ten, even if you are the most reputable agent, what I find is an outdated LinkedIn because that's highly injectable, followed by maybe Coldwell banker's template they set up for you, which looks like shit, and then maybe a Zillow profile and maybe an air profile.
00:21:36:05 - 00:21:53:13
Unknown
And I got the my my broker has me a page on my on their website. I'm there. Yeah. But let me tell you what is a broker's intention. They don't care if you sell. They care if one of their people sells everything. It's brokerage level marketing. It doesn't differentiate you. And so our job is to control the narrative.
00:21:53:17 - 00:22:10:12
Unknown
What I want to focus on, if people Google you, they're at least going to hit the first three links bare minimum. So literally yesterday I was working with a top agent and she's like, I don't really use LinkedIn. It's not that important. I said, Let's Google you as the first fucking link. Literally, it had. I'm not kidding.
00:22:10:14 - 00:22:36:05
Unknown
The most recent experience was her working at a fucking grocery store. We're like a spring for. Yeah, absolutely. Thank God. By the way, social media wasn't out when I was in. I mean, think the Lord I would have never been hired. But what I will tell you is, like, that is what matters. Yeah, I. If I had never transacted in my life and I started today, I bet I could get listings over some of these other premium agents because I would have the best fucking ecosystem.
00:22:36:09 - 00:22:53:04
Unknown
And that's what we work on here at Henry Street and through my consultancy. That's what we want to focus on how we can control that narrative. And your point is exactly right. The Yeah, because it's not that the best agent always gets hired, it's the one they feel most comfortable with, but the one they feel most comfortable with is typically the one they meet over 80% of the time first.
00:22:53:05 - 00:23:09:15
Unknown
That's why attention so important, guys. And when the branding comes in because you're already like playing catch up if, if you're not thought of first just when you're ecosystem as Tyler is putting it here doesn't associate your name with real estate and it's really not that fucking hard. Like, I never understood why the average agent only does six sides a year.
00:23:09:15 - 00:23:32:14
Unknown
It's like impossible. It literally is impossible If you're doing if you're doing less than 15 deals a year, you are ghost like like if you have a thousand friends on social media numbers, just a thousand friends just on Facebook or Instagram, just a thousand people make it 500. I don't care. 500 people know who you are. Out of those 500 people, 10 to 15% of them are moving and all 500 of them have a referral for you guys.
00:23:32:16 - 00:23:57:12
Unknown
So like when you build a big personal brand, you make yourself more referable, more marketable, but also more approachable. And a lot of the one of the biggest questions I get on branding is and you'll get I sure you get this all the time of all your answers. How do you measure the success of this? Because when you're creating a personal brand and content, it's not like running ads where I could attribute a direct action to a direct result for a cost for costs, banner or result generated, right?
00:23:57:12 - 00:24:18:06
Unknown
So if I'm signing up for Zillow to put in context, everyone understands I'm signing up for Zillow, I'm spending four or five grand a month, I'm either making a positive role on that or I'm not. It's very easy to determine. Now, it's not that quite easy in building a personal brand in content creation. That's the number one reason why I think people don't go all in on it and why they hesitate so much because doesn't happen overnight.
00:24:18:12 - 00:24:46:22
Unknown
So how do you answer that? Absolutely. Because the ROI is so attributable and trackable for ads. The issue whenever we talk about environmental branding or a personal brand a.k.a a billboard or your social content, it's there are a few ways, but it's very difficult to track this. What I will tell you is I know personal brand works. I know personal brand works because my clients on average see 50 to 70% increase in year over year and the majority of people talk to these people and say, my God, I see you everywhere.
00:24:47:01 - 00:25:09:18
Unknown
Is that true? Absolutely not. They just get served in that same person's algorithm over and over because they keep can they keep consuming the content and not following them? What we want to focus on is what we call an omni channel approach, not just social, but we want newsletter, we want mailers, we want personal handwritten cards, we want cold calling, we want environmental branding, we want paid advertisements, we want press, earned media.
00:25:09:24 - 00:25:42:06
Unknown
All of these things combined create a really fantastic epic ecosystem. And the good thing is, yeah, it requires some time. It's not that expensive, but ultimately all of my clients are ROI positive. I wouldn't have a business if they weren't. We show proof, you know, year over year and our numbers and that's how I prove it out. But if you're looking to develop your personal brand in 30 days and show ROI by any agency or or consultant who tells you that's possible is lying to you, it takes a year.
00:25:42:08 - 00:26:01:01
Unknown
Are minimal to really start seeing the year over year results. Yeah. And if and if you do everything on video that might even that might go faster. That could happen if you're doing like really good in videos and amplifier to personal branding guys and nowadays it's the only thing. But you know just a few years ago my friend was on videos very easy to build a brand.
00:26:01:03 - 00:26:19:12
Unknown
All you did was get on camera, even if you're terrible now you got to be a little bit more strategic. No? Yeah, I agree with that. 6 to 12 months minimum. Look at it like I can I compare. It's like working out like, like right now, like every January four. So half the country's in the gym. Give it two more weeks and then only a quarter of them will be left.
00:26:19:14 - 00:26:38:03
Unknown
But if I want to work out, get in shape. I'm not going get a six pack overnight. I'm going to take like months to get there and then until I get the six pack, then I get the date right. You have to build it and then it'll happen. But I have yet to see. I'm curious, in your experience, have you ever seen anybody?
00:26:38:05 - 00:27:04:00
Unknown
I'm talking about anybody go all in on their personal brand and like whether they're committing to three or four videos a month, whatever it is, have you ever seen anyone not make it? You're going to be honest, this isn't me pushing an agenda in my career. If someone actually shows up and does the work, that's a caveat. If they show up and they do the work, I have never ever in my career having coached almost a thousand people ever seen it not work.
00:27:04:02 - 00:27:20:05
Unknown
And that is why I lead a personal brand. And it's funny, you know, you and I are I'm learning the same person because that is my number one example. I guess it's like going to the gym. You don't want to do it the next day because you're on a six pack right now. I haven't used the date example, so I'm going to steal that.
00:27:20:08 - 00:27:37:15
Unknown
But it's like we have to go to the gym six months to get a six pack, right? And then when you have the six pack, you love going to the gym because you look fucking hot, right? When you're fat sock walking and waddling on the treadmill. Right. You want to get out of there, right? I you know, on a personal note, I wasn't I was a long distance runner.
00:27:37:18 - 00:27:58:11
Unknown
I then, for medical reasons, wasn't allowed to run and I was just cleared to run again after five years. I am so frustrated in the gym because I can't even run a fucking mile without dying. And so I have to remember I'm not going to run my marathon pace or my half marathon pace for a year, right? I have to show up every single day to get there.
00:27:58:11 - 00:28:13:03
Unknown
And that's what I remind people about in terms of personal brand. Yeah. Tyler Systems, I want you guys to take a note of is that this isn't just social media like you have to be everywhere all the time in today's world. Really easy to make that happen. And it's not very expensive to do so either, like people are.
00:28:13:05 - 00:28:30:22
Unknown
It's crazy. I was doing an article about just like how to compete, how brokerages can compete against mega publicly traded companies. You can do it very easily. It's not hard. You have the same tricks they do. But the trend, though, and this is just for any brokerages, is gone to personal brand. So I've seen a Facebook guy that I'm good friends with.
00:28:30:22 - 00:28:47:10
Unknown
He made a post the other day. Here's your opinion on it. And he basically says and to summarize it, he's like, look, any small business now has a spokesperson. So either you're going to become your own or you're not. And it's it's so true. It's like everybody has a spokesperson there and even if it's you might have a team.
00:28:47:10 - 00:29:07:13
Unknown
So what I'm saying is you guys, you guys might have a team. One person on that team needs to create content, has to be the personal branding person, but somebody has a great content. I don't think content creation anymore is optional. Like you have to do it. I don't I don't see a business without someone actively creating content going forward.
00:29:07:15 - 00:29:29:04
Unknown
What's your opinion? Yes, I couldn't agree more. Yes, I'm biased, but I don't know a successful brand. And of course someone's going to come out of the woodwork and call me liar and tell me this one random example and I'll still disagree with them. But, you know, the reality is all brands are creating content now. That's why the word influencer is a word.
00:29:29:09 - 00:29:53:08
Unknown
That's why these brands who don't focus on branding and personal content no longer exist. Right? We've seen a massive migration and, you know, let's see the zeitgeist of media. We first went from print to digital and the companies who resisted it no longer exist. And we're going from profoundly professional digital like TV companies, linear advertising, these type of things.
00:29:53:10 - 00:30:13:18
Unknown
And we've transitioned almost entirely really to social and UGC content, right? And if brands don't get behind it, that's fine. Just don't have a brand, don't don't have a company because I think it's that absolutely necessary. Yeah, there's marketing and advertising and there are a few of those. You'll see some of the mega teams that, you know, crush it.
00:30:13:18 - 00:30:32:24
Unknown
There's a guy individually I could think of. His name is Robert Slack. He's got one the largest teams in the country right now. But and he was he's got a really cool story entered the market like at 70 years of age like he's an old man and he got into this and he just took it over. But he understands how to run a business and he just bought a bunch of leads and he put in systems and his his thing is buying leads like from the portals and whatnot.
00:30:32:24 - 00:30:49:20
Unknown
A lot of it was, I guess, but it's very expensive to do that. Guys like you could buy business or you can attract it and anyone could buy business because in any market, in any advertise, just whoever can whoever has the most amount of money to spend the control or acquire the client is the one who always wins.
00:30:49:22 - 00:31:08:07
Unknown
Yeah, very simple. Like if I could spend five grand to acquire clean and pencils and I'm going to do that and I'm going to keep spending more money than my competition, this is all this is. But when you build a brand, those numbers don't fucking matter. Like they really don't matters because there's so many ways that you monetize for it.
00:31:08:07 - 00:31:24:00
Unknown
But it's going to be very difficult to measure when you know what it's working is like though. When you go to the grocery store or you start getting random DMS and comments and people like, I saw your shit. I watch a video, I got this. hey, I've been watching your content. And that's, that's the first sign that something like that's working.
00:31:24:00 - 00:31:41:17
Unknown
You guys, for those of you that are on this journey and if you have that, you keep fucking going. You don't start now, you double down. But usually you need those little words of encouragement. It happens to me too. I didn't create videos all year. I'm in a pivot year and I couldn't nail down my branding strategy in my content strategy.
00:31:41:17 - 00:31:57:08
Unknown
And I finally did last month. So now I'm ready to start creating content and starting this new business. But you have to be excited about what you're doing too. And that's where I think where it all starts. That's really what you guys like to do is figure out, okay, here's who you are, here's how you create content. Absolutely.
00:31:57:08 - 00:32:15:03
Unknown
It's the execution area tasks, right? That's what's really, really important here, Right? It's not this ethereal bullshit concept. And this is why I hate marketing conferences. It's like, okay, let's find our inner warrior and pray to an Ethiopian turtle. Right? It's really about how do we actually leave this comfort and execute. And that's what we focus on here.
00:32:15:03 - 00:32:33:06
Unknown
That's our number one goal. Yeah. So once you know that what you stand for, it's very easy to create content around it. Like suddenly it's just hard to look outside the weeds. And if you're it's very difficult for somebody in their own weeds to do good at their own shit. I'm one of them. That's why companies like yours exist, our dude.
00:32:33:06 - 00:32:47:14
Unknown
So we're right at this half hour. Mark, We're going to go ahead and get this thing ready to rock. I thought the show is awesome. Let's do a follow up on this now. I have a couple of questions I want to chat with you. Box. We're going to do some business outside of this podcast, but any closing thoughts?
00:32:47:16 - 00:33:05:16
Unknown
Yeah, I mean, like, look, my job is to empower other people like you and people listening to live their best life, Right? And that's not an expression. It's I build empires and how can I help build your empire? And I do that obviously, by a philosophy that I like to see is lighting someone else's candle doesn't extinguish my own.
00:33:05:21 - 00:33:24:05
Unknown
Yeah, I'm blunt. Yeah, I'm authentic, but at the same time, I authentically and bluntly love helping people because if I can spend 30 minutes with someone and change their life and that's a good 30 minutes spent, even if I made $0 because like you talked about earlier, that will come back to me and dividends because it's how I build my personal brand.
00:33:24:10 - 00:33:42:13
Unknown
So everyone listening, if you're interested in chatting more about me with your business, I want to give you the opportunity I give everyone. Go to my website. Tyler gmail.com on there. You can book a free consultation with me. This is not a sales pitch. There is no sales call. There is not a deck that I walk you through.
00:33:42:13 - 00:33:58:04
Unknown
I do not try to convert you to a consultancy model. All I want to do is hear about your brand and hear how I could potentially in those 30 minutes, point you in the right direction. That's obviously open to anyone listening. And of course, you. Of course I would. I would love to chat with you offline about this, but that's my philosophy.
00:33:58:08 - 00:34:18:19
Unknown
Take it or leave that authentically. That's me. Appreciate it, man. We appreciate you guys. Listen, another episode of the Estate Marketing Do podcast, folks. Appreciate your comments. Keep them coming. And most importantly, check out our software if you like what we saw here today, we give you all of the content to create on a monthly basis and a DIY version from your social media calendar to automation to do direct mailing to the database as well as your video emails.
00:34:18:19 - 00:34:40:09
Unknown
We tell you everything to do. Follow the blueprint. You have no way of not remaining on top of mind through an airline and C approach direct mail rant and social media folks while the system it works. It's not rocket science. You can visit us at referral suite dot com for that and check out all your leasing but we'll see you guys next week and appreciate you listening to another episode of the Marketing Dude podcast.
00:34:40:11 - 00:35:05:02
Unknown
See that. Thank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW dot Real Estate Marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:35:05:07 - 00:35:08:01
Unknown
Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Direct Messaging For The Lead
30 dec 2023· Real Estate Marketing Dude
Lead generation is the name of the game. Who better to talk to then the expert himself? We are gonna be diving into lead generation and what you should be doing.
Resource
Jay's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Ladies and gentlemen, welcome to the episode of the Real Estate Marketing Dude podcast. Folks, we're going to chat about today. We're going to wrap up the year strong and talking about, guess what? More marketing, but more importantly, how you convert that marketing. So many people, especially in our space, throw a lot of money at stuff that make the ego feel good but don't necessarily get the results at the end of the day.
00:03:05:02 - 00:03:20:19
Unknown
And yet, as you guys, you know what I'm talking about. You know exactly what I'm talking about. Biggest complaint I see is, social media doesn't work or these ads don't work or this hasn't worked Well, most times it's human error. It's not that it doesn't works. They work for somebody, but they're not working for you. So that's not a bad thing.
00:03:20:19 - 00:03:38:05
Unknown
Just means you need to learn how to do it right, Need to know how to do it more. Quit being so damn creepy online and all that fun stuff. So that's we're going to be chatting about today is lead generation. So we brought on the expert himself. They call him Lead Gen J, and he's going to talk to us about best practices, specifically to your space.
00:03:38:05 - 00:03:56:20
Unknown
So go how to take notes, pay attention and we'll get right into it. J What's up, man? How are you doing? In wants to run a little bit about who you are, what you do doing well. Appreciate you having me. Jay Feldman, also known as Lead Gen Jay on YouTube. So actually run a very successful PR agency full time.
00:03:56:20 - 00:04:19:03
Unknown
We have 72 employees across two different offices, so I know all about what you're talking about with the fluff that that feels good but doesn't necessarily generate it leads the personal branding, the social media stuff that everybody thinks they need to do in order to get clients. But my superpower as a as a founder and as a CMO is really generating leads for my agency.
00:04:19:05 - 00:04:41:06
Unknown
And now I teach lead generation to thousands and thousands of people in my private courses, communities and my YouTube channel. So hopefully we can give back to some of the realtors, lenders that are watching the show and maybe teach them a different approach for generating leads that they may not have heard of before. I'm very familiar with with the work I've worked with a lot of realtors before.
00:04:41:08 - 00:04:59:23
Unknown
And yeah, you know, social media is not the magic bullet. This might be for them. So I'm looking forward to getting them back this way. Well, let's get into it. Like, let's just start from the basics. Let's make this very elementary and I will get into the nitty gritty towards the end here. But at least in real estate space, what's the biggest issue?
00:05:00:00 - 00:05:23:20
Unknown
I have my own opinion, but I'd like to hear yours. Where do people go wrong first? Because that's usually where it starts. It's like at the beginning that they screw up and once you screw that up, you can really build it back up. Is that the target biggest? Is it the offer? What is it? Yeah, I think the biggest struggle that realtors deal with is kind of the same struggle that insurance salespeople deal with is that there's not a lot of differentiation in what they're offering.
00:05:23:22 - 00:05:42:24
Unknown
So people tend to go with the ones that they know, like antitrust first. So that's one big challenge that they have to get through. And that's where the personal branding and the social media really comes into play and the networking. So I do think is hugely important for realtors to do those things. I'm not discounting any of those things.
00:05:43:01 - 00:06:03:15
Unknown
So I think that's the biggest struggle. But the second struggle is awareness reaching out to people who might be selling homes, letting them know that you exist. And if they're not selling a home right now, it might be in the future and they might not have a realtor that they know like and trust. So that's really where lead generation and outbound lead generation, which is what I do, comes into play.
00:06:03:15 - 00:06:21:24
Unknown
The awareness aspect. I go back to the differentiation and you're right, and we say this on we might say this every week, if not every other week, but I always ask people, I see a lot of branding and yeah, you know, figure out some would be like, Hey, Mike, who am I? You know, I've got to figure out how they market themselves, not what the what's easy.
00:06:21:24 - 00:06:37:00
Unknown
It's the how that people got to figure out what's actually going to get impacted where people can remember. And no one can ever answer that question because I'll be like, ask, what is the one thing you do differently and what the the wrong answer is. I want to look out for the best interest of my clients. What you should look out for the best interests of your client.
00:06:37:00 - 00:06:51:12
Unknown
If you're a good person, that's not a value proposition. And why do people struggle with that so much? Because, like, if you're a writer, you're just a commodity, especially in the real estate space. This is the same in the law space. You guys. I'm doing a ton of content in the law space right now, so exact same thing.
00:06:51:12 - 00:07:12:04
Unknown
The attorneys don't know the difference between themselves and somebody else. So what? How do you help people do that? Because I agree with you. I think if you're not different, you've got to stick out. Everyone's the same. Everyone in their mother's a realtor. You trip over one, go to the mall. So how does someone get past that? Because I think that's the key personally.
00:07:12:06 - 00:07:39:22
Unknown
Me too. And that's a really hard challenge to do because something that one person can use to stick out really can't be replicated over and over again. So people struggle to figure out what it is that's going to separate them from somebody else. I mean, you look at some of these giant shows, you know, selling Sunset, like what separates them, yet they get the social media presence If you list with them they've they it's automatic clout and their chances of signed at home are higher because they come with all of that that clout in social media pool.
00:07:39:24 - 00:08:03:15
Unknown
And I think that's why a lot of realtors do gravitate toward the know like and trust method because they don't there's nothing different about them. What's different about them is that the person that's hiring them knows likes and trust them. So you asked me some ways that realtors can stand out. I think social media is a good way to do that, especially if the homes that they're selling are people that care about that.
00:08:03:17 - 00:08:22:23
Unknown
For example, we'll do a we'll do some videos, some collaborations on the sale of the home, maybe feature you on the social media platform. But you probably know that that question a lot better than I do. You know, what are some of the different things that realtors can do to stand out and differentiate their offer? What are some of the things that you teach in order to differentiate?
00:08:22:23 - 00:08:42:04
Unknown
Because it's like you said, I take care of my client is not a good differentiated differentiation point that gets overlooked. Just like everything else that everybody says. I like differentiating through brand. Unless you have a unique selling proposition and 90% don't, if you have a unique selling proposition, it's going to be different levels of service that you can stand out with.
00:08:42:04 - 00:08:59:22
Unknown
So we used to have a program called The Owner Advocate where we gave people up to five options to sell their house. We gave them a cash offer, a fixed and list program, a bridge loan option sell instead, which is basically just a leaseback and then the traditional listing. So what made us different and that was our service and our process.
00:08:59:24 - 00:09:19:17
Unknown
So there's other offices that do that. What makes someone different in real estate in general could be a flat fee office, a flat fee service as opposed to a five or 6% commission. It could be the fixed interest list program, for example. That's a very sexy offer, but most people don't do that. The only other way to differentiate is through brand.
00:09:19:19 - 00:09:34:18
Unknown
So if you can differentiate through brand, it'd be like, let's just say I love when people give back. I used to do a lot of those. I had one guy in particular comes on top of my mind that used to sponsor and rescue a dog with every house he sold. So he never sold houses? Yeah, he never sold houses.
00:09:34:18 - 00:10:04:07
Unknown
He saved dogs. The house was just the result of him saving a dog's life. And that's easy to market because people care more about animals than they care about fucking human beings nowadays, right? So it's like. But that's that makes them different, right? So some other things that I can think of that law firms did this actually you mentioned in law firms, if you operate with that law firm, they get special membership access to some of the things in that city that the law firm does parties that are private club.
00:10:04:09 - 00:10:23:10
Unknown
So that's and that's cool and yeah maybe the realtors can do real estate agents can do and really it comes down to creativity. I don't have a straight answer. We have a law firm right now and it's great. That's what makes them different are divorce family law. And their tagline is, Have you ever argued with a woman? And they're an all women run law firm.
00:10:23:12 - 00:11:04:02
Unknown
It's fantastic. They all do divorce. That's good marketing. Great marketing, like, you know. So, yeah, you either do it through the USP that you offer. So you're doing things different than 99% as either cheaper or more creatively, or it's your personality, your personal brand, 100% agree with you. And if you have a unique USP, then the cold outreach and the awareness part gets much easier because people will remember you and they'll be much more likely to convert on that outreach as opposed to just a Joe Schmo realtor reaching out to somebody via a cold email or a DM saying, Hey, I'm a local realtor.
00:11:04:02 - 00:11:22:05
Unknown
You know, if you're selling your house or you know anybody, let me know. Your chances are going to be slim to none. And getting a response to that. So yes, brand works and then your unique USP. Absolutely. How about the awareness side of it? You guys actually go out and like, find these people right? Or walk me through.
00:11:22:07 - 00:11:37:02
Unknown
So if you have your if you have what you got to do, this is like step one. Would you agree? Like got to figure out what you do differently, what your USP, what do you what's your offer essentially. And then I want you to stand out in a crowded marketplace. Perfect. Everybody should think about that. You can try and win on price.
00:11:37:02 - 00:11:53:13
Unknown
You can try and win on luxury and brand, but figure out what you're going to win on and then compete there. Now, let's just say I have that figured out. What am I going to do next? So now I need to let people know what you do and how you do it. And that's the awareness portion. So this is where a lot of people struggle.
00:11:53:17 - 00:12:16:19
Unknown
I mean, it's kind of the both of them are very hard, you know, What do you do? What separates you? And then how do you actually get people into your pipeline? So there's a lot of different ways to do lead generation, to do outreach. A lot of people gravitate to social media because it's free. Creating content and getting people in organically is obviously a great way to establish rapport and get free leads, but that's hard to do.
00:12:16:19 - 00:12:35:12
Unknown
A lot of people struggle with generating a following on social media, and it's a little bit unpredictable. There's hand-to-hand combat where you're going through your Instagram, DMS and messaging people over and over again. But what I do is I scale that up, so I figure out ways to do that at scale. So you're not sitting there DMing people over and over again.
00:12:35:14 - 00:13:04:00
Unknown
We set up systems so that you can reach out to people hundreds or thousands per day that either are a good candidate right now or possibly will be in the future. And how are you? Is that through socials, out through all of social media? We reach out to people, through social media and email. So some of the best social media platforms that we use that allow you to send good automated messages to targeted users that are going to be interested is Twitter and LinkedIn.
00:13:04:02 - 00:13:27:06
Unknown
And there's a few tools that you can use within those platform, such as Drippy for Twitter or Meet Alfred for LinkedIn, where you can find people, you know, in specific communities, people who have homeowner in their bio or have already been tagged homeowner by some other platform. So social media, you can automate those messaging, you can get 100 messages out per day spreading that awareness.
00:13:27:06 - 00:13:44:08
Unknown
Obviously, this works much better if you've got an established brand and you've got a unique USP. Again, if you're Joe Schmo and you've got a bad profile picture and you're reaching out with a generic offer, it does not work. It's almost a set up. That's why you got to have that upfront because that's just what you do with it.
00:13:44:10 - 00:14:03:11
Unknown
I've never had anyone ever in the last nine years since I had a show mentioned Twitter before. I'm sure you get that a lot right. So let's get a lot of people are doing let's let's get into well, now X so let's get into that like talk to me about that because I always see I always seen on Twitter like the number one response you see is, it's the worst ad platform out.
00:14:03:11 - 00:14:26:16
Unknown
Everybody. I've never converted leads off of there and that's typically b c but you're you're it's kind of like you're messaging people through Twitter. You're not going after like, tell me I'm curious. So you mentioned Twitter's the worst ad platform. I'll say right now, that's where our our best our allies are. So where we're spending money on Twitter ads right now, I think since all of the big brands pulled their ad budgets from Twitter, it's just become dirt cheap to get.
00:14:26:16 - 00:14:46:10
Unknown
That is interesting. So like with what's go and if you guys haven't been following the news like get out of the whole year and first it's been pretty obvious that the major brands if it is new to you like the major brands for whatever political reasons are fighting about today or pulling out because they're fighting and they're being you know, they're just being big babies about shit, bottom line.
00:14:46:12 - 00:15:04:20
Unknown
So they're pretty much they're pulling they're pulling their money out. And then you're saying because that space is open, because there's only so much real estate in ad space, you guys, there's a scroll, okay? And what you're really buying is you're buying no differently. Like, people don't know this, but if like, if I'm buying a billboard on a highway, there's only one billboard.
00:15:04:20 - 00:15:19:17
Unknown
That's why it's so damn expensive, right? Then they can't. Then they created the video billboard so they could put 40 images on there and interchange them. So it became a lot more affordable. But in social, like if there's a lot of people trying to reach the same people, then it's harder and it's more expensive. Get your message seen.
00:15:19:19 - 00:15:41:05
Unknown
And a lot of those big dollar peoples what he's saying right? The big dollar companies have pulled back apples the Disney's Yeah and there's a lot of free space there that you'll get more exposure for that is so interesting I've never even thought about that. Yeah in fact in the last week Neil Patel released a video. He says his agency right now is focused entirely on Twitter ads.
00:15:41:07 - 00:16:00:20
Unknown
We're getting clicks on Twitter for like $0.12 for PR agency ads. So if you're not advertising on Twitter and you're listening to this and you're running an agency and you're running social ads, get out there and spend some money, I guarantee you make an ROI even if you don't know what you're doing. It's just so cheap to to get views and clicks on Twitter right now.
00:16:00:22 - 00:16:16:11
Unknown
But that is separate from what I was talking about with with doing the outreach. We're about to go in a big rabbit hole right there. I might talk to you about that. Yeah, a little little sidetracked, but definitely a good one. I think that's for anyone to have you back to talk to it. Yeah, that's. That's dope. I'm going to check it out.
00:16:16:13 - 00:16:37:22
Unknown
All right, Carefully check it out. So Twitter, Twitter, messaging, essentially with tools like Drip, you're able to filter hundreds of thousands of Twitter users out through multiple different filter categories. Like what words they have in their bio, who they're following their location, and then you're able to send them Twitter messages. You need to be verified on Twitter for this, which now is like 12 bucks a month.
00:16:37:24 - 00:17:01:19
Unknown
And you can send them hundreds of Twitter messages per day, get straight into their Twitter inbox in initiating that conversation. Hey, Mike, do you happen to own a home in Tampa? No. Cool. It conversation's over. The one out of five that you message that say, yeah, you know, I do. Now you have a conversation. Now you have a lead in your pipeline that's either going to be selling or buying now or might be in the future.
00:17:01:21 - 00:17:23:07
Unknown
So different ways to connect with people at scale. And Twitter is a good and under-utilized way to do it for people who are listening to this. And I'm like, This sounds like, you know, LinkedIn. I get a ton of spam messages on LinkedIn every day. A lot of actually my next question. Yeah, a lot of people are doing this on LinkedIn, not so much on Twitter when you get I was going to say is on Twitter, it's a little bit more it's probably wide open.
00:17:23:07 - 00:17:42:20
Unknown
The mailbox is on Twitter and I'm thinking about probably wide open because like people don't typically, I'm guessing, engage on Twitter through like messenger, like they do on Facebook or Instagram or LinkedIn. When you're spammed like every other hour feels like right, wide open and under-utilized. Not a lot of people are doing this right now, so which means an open opportunity.
00:17:42:22 - 00:17:59:08
Unknown
So like, does this look at the theory here though? Like what we're talking about is we're trying to go where no one else is, you guys. And that's like the fundamental rule of any marketing, like we're talking about sticking out. We can only stick out. Just like in your brand and your USP, you could stick out to where you show up to someone else.
00:17:59:08 - 00:18:21:08
Unknown
If you go where nobody else's advertising gets much cheaper. If you try and advertise on Google ads for people buying or selling at home and your location, you're going to be competing against everybody else who has a typically a much larger budget than you probably do as an individual realtor or lender. So going where the unknown is going, where people aren't spending a lot of effort is going to save you a lot of money.
00:18:21:10 - 00:18:37:01
Unknown
Now, just a side note, I want your personal opinion on this. Do you think Twitter can on a social aspect, because it feels like a more of a news site, do you think it can compete like on a social aspect, like with Facebook and IG? And to that extent, in my opinion, I don't know if it ever has.
00:18:37:01 - 00:19:00:12
Unknown
I've never been a big Twitter consumer. I've never been in a Twitter scroller. And it seems like the people who are, you know, political journalists, reporters, yeah, it feels more newsy. It feels more newsy and it feels like a social platform for news people and for politics, not for the general consumer. But I do know a lot of entrepreneurs who are pretty big on Twitter and swear by it.
00:19:00:12 - 00:19:30:00
Unknown
And I don't know if you're familiar with Alex Ramsey. Yes. He's got a massive Twitter following. Black are called email wizard, massive Twitter following does something similar to what I do. So the opportunity is there. Obviously, people are spending time there, but I'll be honest, it's not my platform. Interesting. Okay. So talk to me about these messages sort of reaching people and with the services that like, is it a bot, Is it and how many people can you reach out and then do you have numbers?
00:19:30:02 - 00:20:00:03
Unknown
Yeah, Twitter, you can head about 2 to 300 per day based on how established your Twitter account is and how many people are in your pool. Yes, it is a bot. Obviously, you write the messages that are going to be sent and a lot of these tools now do incorporate as well. So for each of these messages you can run a chat bot prompt based on what's going on in their bio and generate, generate, generate a personalized word or phrase that will make it a little bit more personal to them.
00:20:00:05 - 00:20:15:04
Unknown
And what are people often like to think of a real estate? They're just you're starting a conversation. Hey, do you own a house? Like, what's the it's really I mean, you're throwing astonished at the wall, so I'm going to stick like I'm a big fan of cold calling. You know, I hate it. It works. It works. It works.
00:20:15:04 - 00:20:34:22
Unknown
All right. You know, And if you try enough, here's a someone. I bought this new platform I'm running my ads with. It's called EBU. Guy named Vince Reid has it and he has he he said something in his training that really stuck. And I think this will help you guys. He goes, If you want to sell more shit, you need to make more offers.
00:20:34:24 - 00:20:55:22
Unknown
Yeah, I'm going to. I'm like, Dude, I know sometimes one will stick. If something's working a little bit, do more. You're typically going to get more even with the it, right? Yeah. Even with the worst offer, someone will bite. And then ideally over time, you optimize your offer, you optimize your targeting, you go from a 1% reply to a 3% reply and you fine tune.
00:20:55:24 - 00:21:24:15
Unknown
But you mentioned what do you say in that message for this for the real what's for example, assuming that you're targeting a reasonable audience, meaning you have the location down there? Homeowner You've been able to do that with the filtering technology. I would leave the open ended. Hey, nice to meet you. I'm whatever we've got at this in common, I do wanna do on a homeowner in Tampa Bay leave it open ended yes or no or if they say yes and they've got an opening to go have a conversation with the lead.
00:21:24:15 - 00:21:42:18
Unknown
Who's talking to you? And you can build that relationship for now or for later. There's also some other strategies giving them lead magnets. For example, if you're a lender and you can give them some kind of like lending calculator or something that they might opt in for and find useful. That's something that I use a lot in my business.
00:21:42:18 - 00:22:00:15
Unknown
I can't think of any good lead magnets for realtors off the top of my head right now, but I'm sure they exist. Could probably be like a new construction homes list is usually what people do off market lists. Off the market? Yes. People will say, well, it's not on the MLS because you couldn't find anything on Zillow nowadays.
00:22:00:15 - 00:22:15:07
Unknown
So you got to have something that's not like online. But usually that's what I see, something along those two lines. I would click on that too. Someone sent me an off market list for Saint Pete, even though I'm not now buying or selling a home right now. I mean, I just want to see what it is, right? Yeah, absolutely.
00:22:15:09 - 00:22:35:13
Unknown
Verdad. You know, I think the biggest problem too, and this is for me too. I hate selling dude like and I think most people, I feel like they feel that as well. Like I don't want to be on a soapbox like cold calling or reaching people or messaging people. However, I could pick up the conversation once they do right, and if someone raises their hand, I'm more of like a permission based person.
00:22:35:13 - 00:22:52:08
Unknown
I've always been like, I can't infiltrate. I was terrible. Cold calling was terrible at like just selling than general, more salesperson and a lot of people in real estate struggle with that. But this is like a way that you could automate that and, and, and get rid of that terrible part of the coldness sounds like it's exactly what that is.
00:22:52:08 - 00:23:10:01
Unknown
We had a cold calling team and God bless their hearts, they're spending all day, hundreds of calls and a couple of them are interested in everybody else's pissed off. They have to deal with all of the pissed off ones and they're spending time on the ones that are pissed off. This is the way to not do that. Automating the outreach really is like what you said.
00:23:10:01 - 00:23:28:13
Unknown
It's waiting for somebody to raise their hand and say, I'm interested. The ones that don't raise their hand, you don't even know it exist. They typically don't even make it through the pipeline to you. So it's a really good strategy for people like you've mentioned who don't love selling and doing all of that outreach manually, 99% of them.
00:23:28:15 - 00:23:46:11
Unknown
How do you target people, though, on this platform? Got so Twitter, you're a little bit more limited. So you we've got words that are in there, but we've got who they're following, who's following them, and we've got interested. There's a subscriber vibe too, So there's a couple of different ways that you can target on Twitter. LinkedIn is much more open.
00:23:46:12 - 00:24:04:24
Unknown
You know exactly where they're living. You can target very specifically, you know, companies, job titles. So if you're looking for high net worth people in your city, LinkedIn is going to be an easy way to find those people. If you're doing cold email and you're using a B2B database, such as a Palo Alto, you can do the same thing as LinkedIn.
00:24:04:24 - 00:24:25:13
Unknown
You can hyper target by people in a specific location. They've got buying intent data. So people who are looking for homes and then there's scraping tools like IG leads, dot IO, where you can literally scrape homeowners in your location. So a lot of good resources out there to find the right people and it's never going to be 100% accurate.
00:24:25:15 - 00:24:46:07
Unknown
Yeah, but the goal is to get accurate enough to get people to start raising their hand up. I like it. What else you got? I get it. It's taken out. So that's a good a good sign. Something you haven't done here before. So the other thing is how do you get as many messages out as possible without burning out your list?
00:24:46:09 - 00:25:14:01
Unknown
So we mentioned Twitter as a as a resource. LinkedIn is another good one for automating LinkedIn as a tool that we like to use to automate. LinkedIn is called Meet Alfred. You're able to essentially get out hundreds of messages per day to people who are in your groups and your events. So as opposed to traditional methods, just connecting with 30 people per day, which is their limit, hoping that they accept it, sending them a message, these tools will actually go right into their inbox.
00:25:14:03 - 00:25:33:11
Unknown
And LinkedIn is really cool because you've got all this targeting mechanisms and you've got a much more built out profile. So people can see your profile, picture your banner, your banner, exactly what you do, where do you live, and if they see someone connecting with them from their city on LinkedIn, good chance that they're going to connect and have a conversation with you.
00:25:33:13 - 00:26:04:16
Unknown
Usually on like the personal stuff, like you're at the same college, you're the same exact industry, you're in the same fraternity, even like you could. You could probably target people that way if you want to go really deep. Obviously that would work at university. Yes, university like so yeah, might be way too small. Interesting. Cool. Now, when somebody reaches back though, don't say aren't they sort of like, hey, I'm this is like old and then you pick up the conversation like, do you?
00:26:04:16 - 00:26:26:03
Unknown
I could see why you have the lead magnet because a lot of people like what I do next. hi. You want a house? Okay, so now what? Great. Right? If I'm lead magnet definitely makes a little bit easier. It makes it more enticing, but now it becomes a sales job, not a prospecting job. Yeah, it's building a relationship with that person, putting them in your pipeline for now or later.
00:26:26:05 - 00:26:44:10
Unknown
But once they've raised their hand and said, Yeah, I am exactly who you hoped I was, I have at home, this is where I live. I'm buying or selling. Now you can start to build that relationship enough to waste your time doing the outreach. Now you're closing. Yeah, maybe retargeting you could be following in other places. I like it.
00:26:44:12 - 00:27:04:03
Unknown
What kind of costs is something like this running like because I'm thinking I used to have a team of cold callers. I know how much they costs. Like, what is this? Let's just say I'm like, All right, I'm sold. I want to do something like this. How much data do I need? And my dealing with like 10,000 records of people I got to find my.
00:27:04:09 - 00:27:24:20
Unknown
And then how much, you know, like, how much does cost? Like, is there what's the budget like on this? Let's go over some of the pricing and expectations for each of these platforms. So they're each a little bit different breaking them down into Twitter, LinkedIn and email are kind of the main three that we like to do. Our average Twitter, we've got 15 bucks a month ish for Twitter verified.
00:27:24:22 - 00:27:48:03
Unknown
We've got the software cost, which is about $59 per month, and that's it for Twitter. Everything else is done within that tool. So if you're comparing that to anything else for generating leads, it's pretty absurdly affordable. Yeah. With LinkedIn, you've got Sales Navigator 99 a month and then you've got the tool, which is 89 a month. So less than 200 bucks a month.
00:27:48:03 - 00:28:06:18
Unknown
And now you're doing hundreds of contacts automatically per day on LinkedIn. So if you're doing all the above, you're less than 400 bucks all in right now and then say you want it to do cold email outreach as well. This one is a little bit more complicated than, you know, setting up a tool and how can it to your account.
00:28:06:20 - 00:28:27:19
Unknown
That's what I teach pretty in-depth on on the ginger YouTube channel. But what you'd be looking at if you want to do the email stuff is you need data. So you can either purchase it from a B2B lead database such as Apollo Audio or Zoom info that can be expensive. You can scrape it using a tool like IG leads you.
00:28:27:21 - 00:28:47:03
Unknown
You can scrape it from LinkedIn using a tool like scrap. But you've got to got to get that list of emails who you want to contact. Then you need to set up cold email sending accounts, which can be a little bit technical for a lot of people. You don't want to send emails from your main email address. There's a risk that the people who are receiving them will market as spam.
00:28:47:09 - 00:29:02:23
Unknown
And now, before you know it, all your general emails, the people who you know and do business with are going to spam. You do not want to do that. So always send from a secondary domain and a warmed sender account. We send those emails through a tool called instantly dating. I was going to I was going to ask you what you use for cold emails.
00:29:02:23 - 00:29:20:13
Unknown
I just had someone asked me a question the other day. No, no, it this is really good for like this. Like this sounds like it'd be really good for distrust. You guys, like, you could buy data all day from, like, people that are high in debt. Like, this is what we used to do. Like and if you have that, you could buy the emails.
00:29:20:13 - 00:29:40:18
Unknown
You could, you could literally locate the people who have to sell their house in the next ten months just because there's no other financial option. But in addition, I think this is awesome for recruiting to be to be agent, agent, broker to agent. There's probably a big, big, big thing there. Probably we use this for a lot of things outside of lead generation as well.
00:29:40:18 - 00:29:59:14
Unknown
Once you understand the principles of cold outbound, you can start to pivot this, to use it for lots of different use cases. Recruiting is one that we use it for. Influencer partnerships is another one that we use it for. Business partnerships is another one that we use it for. So lenders looking for realtors, we are looking for lenders.
00:29:59:16 - 00:30:32:06
Unknown
All of those are relationships that can be built using these same principles and tactics. I see why you're creating leads, man. Smart, very smart. You remove cold call and you remove the friction and now you have a warm bond permission base. Follow up. Smart. Yeah. We had a cold calling team for a while. We had four people in house picking up the phone and compared to what we were able to do through automated cold outreach, it wasn't even close to what the cold callers.
00:30:32:06 - 00:30:50:19
Unknown
You guys too, is a revolving door. Like it's hard to retain a cold core. You might retain them for 90 days to maybe maybe six months, but then even then they're going to get burnt out. And then even when they don't, they start getting very expensive because the ones who are good know they're good and then they start asking for more money and then it starts not making sense anymore as a business owner too.
00:30:50:19 - 00:31:11:02
Unknown
So and rightfully so, they should get more money for that kind of phone. But very smart dude. I get it. It's very smart. I would talk to you when we think that's up for about a couple of things. Any other thing you want to add here? We talked about amounts of data. I think that was another question. How much did you have actually need A do you have an unlimited supply of data?
00:31:11:02 - 00:31:36:20
Unknown
And if you live in a small town and you only serve the regions nearby to you and you can only find hundreds of people to do outreach to, this doesn't work for everybody, especially if you're restricted to localized small regions. But if you serve South Florida, you're never going to run out of data. There are tens of thousands, maybe even hundreds of thousands of people that you'll be able to find and reach out to at scale.
00:31:36:20 - 00:31:57:18
Unknown
And that does not increase the cost. And there's always new people buying and selling houses. So as fast as you can reach out to them that is replenishing with data. So I would not let that be a concern. If you're operate in a populated area now, if you're a little bit more restricted and in a small town, this might not be a great outreach strategy for you.
00:31:57:20 - 00:32:13:18
Unknown
That makes sense. Yeah. I mean, there's only so much data to go around, but yeah, I see it as a it's definitely a once you have that niche and if you got data, I mean that's where it starts out. The key here is that the ability to get the data, get the records and you need emails. And what about cell phones?
00:32:13:20 - 00:32:31:12
Unknown
Just emails. We've tried everything with the cell phones, voicemail drops, which is basically leaving them a ringing list voicemail. So they just get the voicemail on their phone and likely will call you back If you have somebody picking up the phone. Answering those actually works quite well as SMS messaging called does not work very well. People hate getting cold.
00:32:31:14 - 00:32:50:21
Unknown
SMS messages. I hate them. I hate them too. Yeah. So no. And how is it that stop? If too many people reply stop now, your carriers will cut you off and you can't do it anymore. So SMS block messaging is essentially dead and then there's cold calling. I'm still waiting for an I cold calling machine to be good enough.
00:32:50:23 - 00:33:14:02
Unknown
I keep getting propositioned by these companies to try their their new dialing bot their new to cold calling I they still suck. So yeah, you can use the numbers if you have a live cold calling team but we just mentioned how how difficult those challenges are plus this gets around all the TCP compliant shit like right. Is that a compliance issue for text messaging?
00:33:14:06 - 00:33:32:01
Unknown
There's a lot for real estate, you know, like there is a lot like just a do not call list and all of that stuff. And there's a lot of risk out there for people to pay. And I'm pretty sure that's who goes around that. Yeah, I don't think there's any there is regulation for called email. It's called the canned Spam Act.
00:33:32:01 - 00:33:49:22
Unknown
So there's certain things that you need to have in your code emails. You need to have an address and you have a way to unsubscribe quickly. It can't be a dopey bait and switch email. Yeah. So as long as you follow a few simple rules, you're safe, you're within legal bounds. And I do not think there's any legal limits about social media messaging.
00:33:49:24 - 00:34:09:21
Unknown
There might be limits and restrictions based on the individual social media account. So, for example, on Twitter, if Twitter catches you doing it, you might get a Twitter account suspended. But there's nothing legal that you'd be implicated in that I know of. And to this day, I've operated hundreds of these accounts and I still haven't had any issues.
00:34:09:23 - 00:34:31:24
Unknown
Very cool, very cool way to how long you've been doing this. And what did you crack it? I've been in marketing for close to ten years and I've been doing a lot of automated messaging those entire ten years. And now I live and breathe this stuff. So always testing new tools. It's a blast for me, especially with a lot of cool stuff coming around the pipeline.
00:34:32:01 - 00:34:49:24
Unknown
Very cool, man. Very cool. Why don't you tell listeners you're in the ship? Anything else you got? Any final tips you want to add once you tell them where they can learn more about you? I don't think we covered a lot of that. I hope it was helpful for you. Your hope was helpful for everybody. If you do want to learn more about me, the best place to learn more about this content is my YouTube channel.
00:34:49:24 - 00:35:07:07
Unknown
Go to YouTube, type in lead Gen J. I've got deep dives into everything that I talked about here on that channel. Get a free course that you can enroll in, go through, learn how to generate leads that way. And if you want to send me a message, go to CMO J. Feldman on Instagram. Send it over there. But this is a blast.
00:35:07:07 - 00:35:26:15
Unknown
They hope I provide a value for some people. Yes, sir. And thank you guys for listening to other episode of the Real Estate Marketing Dude podcast. Folks, you guys know where to find us to visit our show, leave us messages and visit our new software referral suite. That's WW dot referral suite wect dot com. That'll teach you how to We'll teach you anything.
00:35:26:15 - 00:35:44:18
Unknown
I'll do it for you, but it'll market your database, stay in front of them so you remain top of mind. Build a personal brand that people stop forgetting about and start sending you more clients. Appreciate guys less. Another episode we'll see all next week, but thank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is.
00:35:44:24 - 00:36:04:20
Unknown
Visit our website at WW Dot Real Estate Marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching. Another episode of the podcast will see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Video in 2024, It's No Longer Optional
16 dec 2023· Real Estate Marketing Dude
Today we have Nick Niehaus on the show and we are discussing video in 2024. If you aren't using video, then you are doing something wrong. Get ahead before it's too late.
Resource
Nick's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
00:01:40:20 - 00:02:10:17
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:02:10:19 - 00:02:30:10
Unknown
What's up? Ladies and gentlemen, welcome to The Wrap. So the Real Estate Marketing Dude podcast. Folks, we're at the end of the year here. And if you're like most people probably thinking, Wow, 20, 23 sort of sucked, but what am I going to do in 2024? It's what you should be doing this time of year. While business is slow this year, maybe a little bit slower than the normal for a lot of people.
00:02:30:12 - 00:02:47:10
Unknown
But regardless of what happened this year, when the summer comes around, one of the things I always do is just practice and think about what the hell I'm going to do next year differently. What changes am I going to make? One of the things that you have to do is make changes, especially right now, this is the best time to make changes.
00:02:47:10 - 00:03:12:06
Unknown
Is when everybody started looking around what to do when there's an interrupt or a pattern change or anything like that. That's the best time to go out there and actually stand out. Stick out. One of the ways to do that is going to be obviously with video, if you've been on the show for quite some time, we talked about video, we script an interview, lots of videos over the years, and we brought on Nick that's going to tell us everything about video, where he sees it going and whatnot.
00:03:12:08 - 00:03:32:04
Unknown
And that's we're going to talk about today. What are you going to do next year in video? A lot of change. In the last 18 months, we saw long form go to short form. We saw, you know, like the need for less, call it edited videos even more. Authenticity has always been the key. But what's coming in 2024, you have artificial intelligence.
00:03:32:04 - 00:03:47:11
Unknown
Can you use that for script writing all this other stuff? So that's we're going to be chatting about today. So without further ado, let's go ahead and introduce our guest, Mr. Nick Niehaus. Yeah, absolutely. Thanks, Mike. Excited to be here. Thanks for having me on. Why don't you tell everybody a little bit about what you do business school.
00:03:47:11 - 00:04:03:04
Unknown
What does that tell you about when you get into it? Like because what we want to talk about is how we're going to do in 2024 on video. What can we do that you haven't done already or what you see where the trends and what should we be focusing on? Yeah, absolutely. So I guess, first of all, you know, I run a company called Business Video School.
00:04:03:06 - 00:04:22:03
Unknown
We primarily teach real estate agents how to use video. And one of the key components of that is that we really teach people that video is a form of communication. So, yes, it's a marketing tool. Happy to provide some tips and tricks on that front today. But I think that that in my mind and heading into 2024 is maybe the most important thing to sort of understand.
00:04:22:04 - 00:04:38:20
Unknown
You know, coming into this year. You mentioned obviously it's been a tough year. And the good news about that is that there there's less noise, there's less people marketing. I mean, there's literally less agents than there was a year ago. But there's also just once agents that cut back on their their ad spend, they cut back on their effort.
00:04:38:21 - 00:05:02:05
Unknown
You know, they're they're out there looking for side hustles. And I get all that. But that means there's just less content being created, there's less being posted. And so a lot of ways, I think heading into 2024, I mean, you got to think about it as an opportunity. I mean, this is this is a chance if you're still serious about your business and you're looking to grow, we are the projections look like we're going to see a bit of an increase in transactions, not back to where we had been, but that's going to help a little bit.
00:05:02:05 - 00:05:29:15
Unknown
So I think that, you know, you mentioned obviously short form got big. I think we're actually seeing a shift a little bit back towards long form. Again. You know, Tik Tok added 10 minutes and a live video never went away. Rights. There's some opportunities there. But I do think you know what you're talking about, authenticity wise, that is probably the biggest trend we're seeing, is that I was doing an example, as I did doing a presentation that day, and I asked the roomful of folks like, who here can define your ideal customer, Tell me about them.
00:05:29:19 - 00:05:45:15
Unknown
Like, do you know any of the information about that person you're really trying to attract? Is that niche? Two or three years ago, nobody had an answer, right? Like everybody was just like, I buy it. So how's anybody I can work on? Anybody. I wanted to relate to everybody. Again, we're like trying to do what everybody like the person, like they can't stand, like, you name it.
00:05:45:16 - 00:06:02:05
Unknown
How are you going by us? I got you, bro, Right? Yeah. Like the guy I absolutely hate. I really want to work with that person. Right? Like, we know that's not true. We know that's also just not how your business works. You tend to attract, you know, certain categories of individuals and probably push away other types of individuals that sort of natural, but that was what struck me.
00:06:02:05 - 00:06:20:24
Unknown
This event is the average person in the room. They actually had some information about their ideal customer. They had started to think about this and that. To me, that's the that's the thing that's shifting. You know, I think a lot of agents that have been serious about their business for years have finally sort of accepted this reality of like, look, communication is easier.
00:06:20:24 - 00:06:37:16
Unknown
That's ever been it is so easy to put information in front of other people. And what that means is there's just so many more people doing it. So if I want to cut through that noise, I have to say something more customized for my ideal customer. Right? I got it. I got to get a message, is going to get their attention and is going to attract them.
00:06:37:16 - 00:06:54:17
Unknown
It's going to get them to want to start paying attention to me on a regular basis, especially in these periods where not that many people are buying or selling houses. Right. Because that's that's your brand, period, right? I mean, if anything, the agents that did it right this year, they focused on brand building. They got even better, you know, sort of learned even more about that ideal customers.
00:06:54:18 - 00:07:08:19
Unknown
They could cater their content even more to them. And now they have thousands of additional people that know who they are, who are starting to trust them, starting to like them, you know, starting to see all the stuff they have in common with them. As soon as those people want to sell their house, they already have their agent.
00:07:08:19 - 00:07:23:01
Unknown
Right. And I know I know you've been talking about, you know, being top of mind for for many years. Right. That's the power of video. Is your face being the first face, the pops into that person's head. And so I think I think that's the big trend right now is is get to know that customer. Be honest with yourself.
00:07:23:01 - 00:07:38:08
Unknown
It's okay to narrow down and sort of pick a certain kind of group of people and then just make sure you understand them really well. And then my favorite version of this is to look at where you overlap with them, right? So what are your interests? What are what are pain points you've experienced in life? Match that to your ideal customer.
00:07:38:08 - 00:08:08:04
Unknown
Find those those commonalities, the things that both of you are really excited to talk about. And that takes some work. It takes a little bit of soul searching perhaps, but you do that come to 20, 20 for that information, you're going to kill it. That's great that people are actually seeing it. You're right. They are. I could really I mean, I really thought about it because they're usually when I used to do a lot of like brand, the first question like what's interesting, you and everyone else like this first thing ask right See like if they if they can recognize that and a lot of times 90% of time like, I'm going to you
00:08:08:04 - 00:08:23:10
Unknown
know, work in the best interests of my client, I'm going to do a good job on them. I'm like, Are you supposed to do that? Like, yeah, like, like basic requirements of the job. Yeah, But yeah, I mean, that's good because that's all this is, is brand. So like Nick, are you told me that I just get on video.
00:08:23:10 - 00:08:41:21
Unknown
I'm not just going to start generating a ton of lead just because I'm on video. Well you know unfortunately nowadays no. Right. I mean, there kind of was that point man. We used to make videos. They're just generic. Is that put them out. People get business. Right. But yeah, I think that ship sailed a little bit. Yeah. And let's talk a little bit because you hit it on the heart.
00:08:41:22 - 00:09:01:08
Unknown
Go even deeper with it. Dialing in like the content strategy because it's not what you say, it's how you say it. That if people are paying attention to you and often people are so scared to the, say, the how and how they would when no one's looking. So what I mean by that is like, you know how the same way you are when the nobody's watching you like when you're by yourself is the exact same way.
00:09:01:08 - 00:09:19:19
Unknown
You should be on video when everyone's watching you. You know, But it's hard for people to do that. We put that like, what is Johnny going to say about me or What's Melissa going to say about me? And like, who cares why? You know? Like, how do people get over that? Well, yeah, that's a great question. I think that that is and I've seen that.
00:09:19:19 - 00:09:32:16
Unknown
I mean, you and I both seen that a thousand times, right? It's like it's it's always the most Randy's like, I have this cousin and he's always been mean to me and like, he's going to comment on my video and I'm always just like he's, yeah, of course he's been doing that his whole life. It's he's just that's who he is.
00:09:32:16 - 00:09:52:06
Unknown
That's nothing new with you, you know, but that will hold people back. And so, yeah, I think so to me a lot of that is is luck when you when you do social media, you know it's I think that's what most people think of when it comes to video. It's always going to be a performance. I mean, there's a way because the thing is like you're never going to get rid of that aspect that just sort of any random person could see that content.
00:09:52:12 - 00:10:12:16
Unknown
Any comment could come through and you just can't predict it. So the flipside of that is, okay, look, if that is a performance and there is going to be a little bit of nerves no matter what, are there other kinds of video? Are there other places I could be sharing content or are there other ways I could talk to people through the video camera that aren't the same kind of pressure, you know, maybe to get some practice, get some familiarity?
00:10:12:18 - 00:10:31:15
Unknown
A lot of that, I mean, because in my mind, like any type of or to somebody, if everything else was second nature by then like if if using the equipment was was really convenient, they'd done it a bunch of times of speaking into a camera was familiar. And the only thing that was new was just the information they were sharing at that moment, then they're pretty natural, right, because they're comfortable.
00:10:31:15 - 00:10:48:00
Unknown
So I think it's about reps, right? It's about how many how many reps do you have? How many times you made a video? That's why for our school we always teach our students. I mean, start at the other end of the spectrum. Start with 1 to 1 video messages, right? You're sending a video to a single person. My favorite example that is Happy birthday videos.
00:10:48:04 - 00:11:01:05
Unknown
Get on Facebook. It tells you whose birthdays are happening today. Like literally next to each one of them is a message button. Yeah. And you can click it. You can jump into messenger and send them a happy Birthday video about 15 seconds. I do that demo on my my trainings all the time. Like, get your phone, let's do it right.
00:11:01:05 - 00:11:18:13
Unknown
2 minutes later, you send a couple these videos. So that's just there's just so little pressure. But the crazy part is like it also has business ROI. I like it. It's actually one of the most effective forms of video we've ever seen because because it puts you again, it keeps you top of mind, right? Like you're in their head now, Like they just saw you.
00:11:18:15 - 00:11:35:03
Unknown
You just you just smiled at them. You wished them happy birthday or whatever it is you said, Hey, that that vacation you went on. Look, thought a lot of fun. Let me know what I should check out if I ever go there. Whatever it is. 15, 20 seconds. Now you're in their head. Now they're going to remember you a few weeks later when they when they, for whatever reason, have a need for your product or service.
00:11:35:03 - 00:11:51:13
Unknown
Obviously, if they need to sell their house, you know, you're going to be more likely to pop up. And it's just so low pressure. So I like to start there. And I think that when you when you start with these simpler kinds of video, especially when you see the business impact. Right. So a couple weeks later, you sent 50 of them to a, you know, 50 people.
00:11:51:17 - 00:12:06:03
Unknown
A couple of them reached out. You had a couple meetings scheduled, whatever it is. Right. That just makes you sort to accept, okay, this is worth it, right? Like, I can do more of this. I can keep taking more chances here. And then we kind of build on that, Right. So I think that thing that helps a lot.
00:12:06:03 - 00:12:25:16
Unknown
Yeah. Yeah. It's like you need a little bit of confidence. You need those little wins when you get when you're getting started. Like, and, and you're like, yeah, you actually watch that. What. I don't think anyone watch that video and you might have had like ten views, but if four of them were impactful, like it was worth it, you know, like don't look at, yeah, look at the law and it's a long game.
00:12:25:16 - 00:12:56:16
Unknown
So here's a question I get for you. Curious how you're going to answer it because there's a in you got to approach it the right way. So like is video lead generation or is it branding. Yeah. I mean that's a hard one right. Because I think I will say number one it's branding, you know, I think it absolutely can do both, you know, I mean because again I think video is one of those things that it's the closest as, as a species because like you know as humans like we've been inventing new ways to talk to each other for hundreds of years now.
00:12:56:16 - 00:13:13:02
Unknown
Right? I mean, just in the past 30 years, I mean, you different ways that we invented that we can share our ideas with each other. There's a whole bunch of them, you know. So I do think as long as you just accept that, hey, this is this is a new way to build relationships, and it's the closest we can we can actually get to being face to face, right?
00:13:13:02 - 00:13:27:21
Unknown
I mean, you look at I like to make the example of, you know, look at the pandemic. And I know we all got burned out on Zoom, but that was thank God we had Zoom, you know, because otherwise you've been on the phone all day. What about conference calls? You know, it just would have been much messier, much less impactful.
00:13:27:21 - 00:13:44:07
Unknown
We would have we would have misunderstood each other at a higher rate. All that's been research, you know, So it's it's very proven that, like, look, when I get in front of somebody, their brain in a lot of ways actually feels like they're having a face to face conversation with me. So branding number one, right? Because it's a relationship building tool.
00:13:44:07 - 00:13:59:05
Unknown
They're becoming familiar with you. They're starting to form that trust. And that is one of the problems, right, is that a lot of times when you get results from your video marketing, it's not because they just watch a video, immediately click the button and then they're going to call you and say, I just watched your video. I'm signing up right?
00:13:59:07 - 00:14:24:02
Unknown
Because it's kind of like, you know, calling up a friend and saying, you know, or calling somebody. I'd be like, Hey, you know how we've talked to each other several times in the past? Like, that's why I'm calling you today. Like, that's that's a like people are going to do that normally. So you have to ask. I think that's the takeaway there is if you do this stuff, you know, you're going to you're going to have you're going to get weird comments from people like, you know, here's one of my favorite examples of how, you know, this is working is you go to a networking event and somebody comes up to you and it feels
00:14:24:02 - 00:14:38:14
Unknown
like they're really familiar with you, right? Like they're they're like, hey, you were doing the thing the other day and like, you were talking about this and you don't really remember who they are because, I mean, that is just What's up, dude? What's up, bro? Right. Subdued. hey, how you been? Yeah, Yeah, Good to see you. Right.
00:14:38:16 - 00:14:59:03
Unknown
Like, I don't know, I started. I started to just almost say that in action. yeah. Good to see you. I like is if I know him. Because half the time, I think I do. But that's what. That's what you look for, right? Is like, are the conversations starting to shift and all of a sudden it's cool because I mean, I go to the stuff nowadays and I don't have to, I don't know, strike up small talk, you know, like people remember who I am or I've never met them.
00:14:59:03 - 00:15:13:04
Unknown
And but they've seen me a bunch because of my content. And so I think that's a good indicator. And then if people are calling you, just ask them, you know, where have you seen me in the past few weeks? You know what? What kind of are you see in any of my stuff on social? I'm just curious if it's working and all of a sudden that'll trigger.
00:15:13:10 - 00:15:38:11
Unknown
yeah. I watch your videos all the time. Okay, well, now, you know, that's where those leads are coming from, right? Yeah, A lot of it is like these videos build up over time. You guys like it's not a Yeah, instant like, gratification thing. And that's like we had we have one one gallery that's an attorney and she's like, she's only shot like four videos and literally like five months.
00:15:38:13 - 00:15:54:03
Unknown
She's like, Why isn't this thing working? Like, dude, you got to shoot more videos. Like, you got it. So like, there's this you got creating the videos only have to battle though, but you have to distribute, right? So why do we walk them through that importance of that? It's not just creating the video that's only half the battle, guys.
00:15:54:03 - 00:16:13:09
Unknown
If you don't get it seen, then that's. yeah. So like, I see it all the time. People will post or they won't be social on social media. Then they expect the video to work, right? So like it's not Craigslist. You can't just post the video on Facebook, but you're never social on Facebook yet yourself. And then it's it's like it's not going to work.
00:16:13:09 - 00:16:33:17
Unknown
So question is, is video versus creating versus distribution, Where do you put the which is more important? All right. Yeah. No, that's I mean, obviously, I'm preaching to the choir with you, right? Because you get all this stuff. You've dealt with all this discussions before. And yeah, that's a huge point is it is so easy, especially if you're nervous, right, to make the content.
00:16:33:17 - 00:16:45:22
Unknown
And then and then for whatever reason you sit on it. I still need to edit it. I still got to change that one graphic or whatever. It is crazy. I use that a lot, you know? I mean, I got to the point where I had to just hire an editor on our team. Just be like, Look, I'm just going to shoot this stuff.
00:16:45:22 - 00:17:08:13
Unknown
It's going to be in this folder and then you're going to take it, edit it and post it for me. So that just never happens again. So yeah, you know, distribution, I think it's probably the most important part, you know, I mean, because, because I don't think that the quality of the video is really what matters. So, you know, as long as you made something where I can clearly understand what you're saying, I think that's that's kind of the one benchmark I always look for is like the audio is clean enough.
00:17:08:13 - 00:17:22:22
Unknown
I can hear you. You know, as long as I can understand what you're saying, then it's good enough to share and you will get better. Right? But you don't you don't necessarily improve that much if you're not getting any kind of feedback, you know, So if you you know, if you share a lot of content, you tend to get some feedback.
00:17:22:22 - 00:17:40:14
Unknown
You can ask for more, you can collect data, you can look at your stats, you can see where people stop watching the video and go back and see why there's so much information that you get from that that allows you to make those changes and improvements. So yeah, I think distribution number is probably more important. I think then it's also dormant.
00:17:40:15 - 00:17:59:08
Unknown
Don't forget you can reshare the same video. I think people, they sort of forget to do that too, right? Because I mean, the first time you put something out, number one, but people didn't see it. Number two is the idea of especially if it resonates with people will resonate again, You know, so I've taken some of my more popular videos that have performed better and just reposted them, and they do even better the second time, right?
00:17:59:08 - 00:18:15:22
Unknown
Because then that person saw it two months ago. Maybe they recognize it, maybe they don't. But but again, that's kind of reinforcing that idea for maybe sort of the comment. Most don't even notice it. It's all in our own heads. Like no one remembers, like the video they watched yesterday. I don't remember. I know I watched Stranger Videos yesterday, but I could I couldn't tell you one of them.
00:18:15:24 - 00:18:31:20
Unknown
I just know I saw. Yeah, I'll be halfway through reels all the time and I'm like, Wait a second, I think I've seen this before. Like two days ago, you know? But I'm still watching it again, so. And then back to what you're saying, I think that's huge too, which is you have to do the work on the other half, the other side of the coin.
00:18:31:20 - 00:18:48:18
Unknown
Right. Which is you have to engage that. That was I got that wrong, too, when I first started. Right. Like I very I resisted social media initially. You know, I kind of grew up in the the era when these things were like literally coming out right to like my a couple of years ahead of me would have been like when Facebook was was released at Harvard.
00:18:48:19 - 00:19:02:18
Unknown
So a few years later, like when I could have signed up for Facebook initially it was still just college students, you know, just to kind of show you the line up there. And I could of and I didn't I kind of waited until the end of school to ever even sign up for it. So when I first got on, you know, it was for business reasons, right?
00:19:02:18 - 00:19:19:20
Unknown
It was all about like, I want to I want to get attention for my business. And I did that. I just I just posted. Right. And I had a bunch of friends and I kind of wondered like, okay, why doesn't this lead to much? Once I started commenting and liking and engaging with other people's content, that's when I saw that that switch kind of flipped, right?
00:19:19:20 - 00:19:35:09
Unknown
Because, I mean, you got to remember, like the algorithm is going to look at the first 20, 30 people. It shows your post to right. And if those people engage and they comment and they like it and maybe they share it or something like that, then it's going to go show it to a bunch more people. Well, you can create those relationships, right?
00:19:35:10 - 00:19:50:20
Unknown
I mean, there's there's a certain group of people who are pretty active on social on both ends, right. If they're posting a lot. I mean, they're also logging on and looking at things a lot. So get out there, engage with their stuff, contribute in a meaningful way. And all of a sudden, couple weeks later, those people will return the favor.
00:19:50:20 - 00:20:11:00
Unknown
And now that that seeds, that initial engagement with your content shows it to more people gets in front of more of those strangers you may be trying to attract. So yeah we we emphasize that a lot as well, which is, you know, if you're having a problem and you are posting relatively regularly but you're not seeing the engagement, go give the engagement and then see what happens to a street.
00:20:11:00 - 00:20:32:01
Unknown
Folks. What about frequency? How often should I be creating content and should I be doing short form or long form? And like, how many videos do I need to do every single month or week to stay consistent? Is there? Well, and that's that's the thing, right? That to me that word the second one is consistency that that is actually, I think, more important.
00:20:32:03 - 00:20:49:22
Unknown
So I think frequency, I think a lot of people try to start with too high of a frequency, right. Logo. You know, I keep hearing you're supposed to post three shorts every day, which is a lot. I mean, any of us made content like suppose she were trying to make decent videos. That's a ton of content, right? So, okay, I'm in post three a day and they post three today.
00:20:49:22 - 00:21:03:03
Unknown
And the next day they post three and then they post two and then they give me like, I can't do this and they stop altogether. And it's yeah, it's like you run out of business, right? It's like you had this presence. People are seeing you and then you get you vanished from them. So I think it's better to start with.
00:21:03:03 - 00:21:25:01
Unknown
Just think about what you can do. Not not totally comfortably, you know, push yourself a little bit, but like what isn't really outside the current realm of possibility, so to speak. Right? You're not making a single video ever once a month to start, right? If you do that two or three months in a row and it was a piece of cake and you feel like you do more, make a bonus video or to write and then gradually up that frequency.
00:21:25:01 - 00:21:42:05
Unknown
So as as once a month becomes comfortable, I'll go to twice a month, go to once a week, you know, and then kind of see where you settle in in the long term. There are examples of this all up and down the spectrum, right? I mean, if it was that every successful business owner kind of did the exact same thing, then there'd be a formula.
00:21:42:05 - 00:22:03:04
Unknown
Unfortunately, it is, you know, all over the place. I remember now, Mark Rober was is an extremely successful YouTuber. He's got his own sort of like toy engineering business nowadays based off of the following he posts like once a month. It is very infrequent, but it's consistent and people know as the kind of take me out every day takes my other that much closer to his next video.
00:22:03:06 - 00:22:27:15
Unknown
And so it can build and it can build, you know anticipation right? People get excited that the next one's coming, but it's going to take a little bit of time. But it's got to be consistent, right? If you don't show up consistently, that's where you have problems, right? That's where where the algorithms starts not liking you. You know, I mean, these companies, they'll they'll favor the people who post regularly because they know that people are going to keep logging back in to see your stuff and therefore they can sell ads.
00:22:27:17 - 00:22:44:07
Unknown
So if you are posting consistently, they will show your stuff to more people because they see you as more of a partner for their ad sales, which not they make all their money, right? So that's that's where I focus on. Right. And then I think from there, I mean, between short and long and kind of all those decisions, that's a personal preference in some ways.
00:22:44:07 - 00:23:02:01
Unknown
I mean, Short is really popular right now. I like short form, especially for newbies, because if you're putting out your first piece of content and I've never seen anything from you before, I don't trust watching you for 10 minutes, right. Like you're just a total stranger or in that case, a 22nd short. I might give you a chance and I might watch it.
00:23:02:01 - 00:23:30:06
Unknown
And if I like it, then I'll watch until a bit longer next time. So I do think it makes sense to start short and then kind of build to the longer content. Agreed. Agreed. Don't overthink it either. sure. You've got to pick like one one spot because of something. You can't do not do anything. There's a tension and then there's like legion, like the long form is going to be more like the people are way more down your funnel need you, but it's the short that leads to the long.
00:23:30:06 - 00:23:45:24
Unknown
So you have to have a little bit of both. I like long for website stuff. yeah. Up to there. You know, you got to have all your long stuff there. It makes sense. But then short form, we don't see a lot of that. I'm not like the engagement on the logs just like doesn't happen anymore no matter who it is.
00:23:46:01 - 00:24:05:13
Unknown
Just seems like they're just pushing those things up and the shorts are doing well. It's crazy, but it switches. It switches. So what about 2024? What do you do? Yeah, you guys are doing some cool stuff I hear with AI and whatnot. Like, how are you using. I would video scripts is probably like if you guys are stuck with what to say.
00:24:05:13 - 00:24:24:13
Unknown
Like use A.I. for your scripts. So it's not that hard. There's literally everything. Verify what it says first verify you agree with what the air bot tells you. Yeah. I don't like read it. Don't just like say something you don't believe or agree with, but use it as a good baseline. How are you guys using it right now and what do you see the opportunity right there with it?
00:24:24:15 - 00:24:42:16
Unknown
Yeah. So we're got you know, we're trying in all kinds of stuff. So yeah, first and foremost, I think script writing, it's incredibly helpful for that, especially now that Jackie Beatty and several others have Internet access, right? I mean, you can have it right yet current up to date, factually accurate information. You're right. You do have to double check it.
00:24:42:16 - 00:25:01:17
Unknown
Just make sure it doesn't make any mistakes, that it does a lot less of that than it was even six months ago. So it's gotten a lot more trustworthy. But you still want to verify. And then from there, I mean, we're starting to see opportunities with now generating images and graphics. So one of the things we did in our school is we started building our own tools there.
00:25:01:18 - 00:25:26:10
Unknown
They're based on the same tech as Chad GPT. We're just using the API, but we're able to kind of further train the the API a little bit. So the right scripts that are really specific to social media, that are specific to the real estate industry. We have a new tool now. We have something that we're introducing tomorrow actually, which we're calling workspaces, which is basically like all of the tools that you need to make your video all on one page.
00:25:26:10 - 00:25:43:10
Unknown
So we've got one that writes a script for you. The second one will generate a background image that you can use if you have like a green screen set up and nowadays you don't even need green screen, You just click a button and it removes the background for you automatically so you can swap that in. So we're doing like a holiday video challenge tomorrow and so they're going to using that stuff for that.
00:25:43:12 - 00:26:03:23
Unknown
So those are couple examples. And then I mean, from here forward though, it's just going to get crazier, right? I mean, because you're looking at that full automated editing in some cases like right now, there are some tools starting to come out. We use a tool called carpooling sometimes, and it's not perfect yet, but they have one now where you can just essentially talk to it and it'll do the editing you want.
00:26:03:23 - 00:26:21:12
Unknown
So some of the technical skills you need to edit your videos going away, right? So like just being like, Hey, three minute, you're 3 seconds in, add a graphic with my name and it slides in from the right and it'll do that and will generate it right. It's like that's happening now. There's so matters, right? Like people just, you know, fake people talking to the camera for you.
00:26:21:12 - 00:26:45:07
Unknown
Right. So it's filed. Yeah I saw one a tool that I saw one that are doing like cool YouTube images for thumbnails, which I thought was cool. I forget what which one it was. But there's another A.I. tool that was got I lost my train of thought. I'm going to it's going to come back to me in a minute.
00:26:45:09 - 00:27:08:02
Unknown
What was I using that thing for? Something fucking crazy? And I have to. It just lost my train of thought. I'll come back to it. I mean, yeah, there's some that are like. Like one of my favorite versions right now is there are several to do it. One I know of, it's called Opus, but it'll take a long form video and it'll just cut it up and do a bunch of shorts for you, you know, And it even has like the intelligence kind of find the most interesting points in that video, right?
00:27:08:02 - 00:27:23:07
Unknown
So, I mean, it's crazy what's possible. We had one that's what I was going to say. We had one translate in the Spanish like it was the same person. English. They're speaking in English. And it literally translated everything in Spanish and in the voice it looked. I'm like, That's not even though I'm like, No, I know. It's not like I'm like, that's a yeah.
00:27:23:07 - 00:27:44:07
Unknown
They literally translated to Spanish, which is a big deal because you can't edit in Spanish. You just switch over like, that's crazy. So there's a lot of that coming through. But these are these were just solving for problems that people who couldn't get on video previously had. So there's really not an excuse anymore. I mean, you could literally become anything by just do a little bit of research with any of that stuff.
00:27:44:07 - 00:28:02:07
Unknown
And that's and that's a great yeah. I mean that that's important to keep in mind here is that like, look, if you think you had a runway to drag your feet to use in video, I mean, it's about gone now. And I think especially because, I mean, it's one thing to compete with other people, right? So you can you they all have their insecurities, other issues.
00:28:02:07 - 00:28:18:06
Unknown
They're going to take their time to, you know, that's already kind of fade now because enough people started doing this. But now you're competing with a I to right now. I mean, heck, if somebody was nervous going on camera, they can use a fake avatar and put a video out there and like, I don't think that's as good, but as you being on camera and talking to people.
00:28:18:06 - 00:28:47:08
Unknown
But it's more content, it's more noise, right? It's easy to create. And so, I mean, yeah, the urgency has has just continue to accelerate. I mean, it's really getting to a point where what is possible is just incredible. But that also means, you know, there's no sitting on the sideline anymore, right? Because I mean, again, you got to remember, like, it's all that psychology that the effect of somebody seeing your face in that face is talking to them and the way that that builds that relationship, that Parasocial relationship.
00:28:47:10 - 00:29:04:15
Unknown
Parasocial was apparently like one of the finalists for word of the year in 2023. Right? So it's like that people get this stuff now, right? I mean, we're all conscious of it. And so, yeah, I think I think that that's I think is kind of coming a little bit out of left field because we didn't really know these things were going to pop up in advance so quickly.
00:29:04:17 - 00:29:20:14
Unknown
But yeah, I mean, it's really opening the possibility that we could see AI real estate agents, you know, I mean, you could see these kind of like fake avatars that work somebody through almost the entire the only thing they wouldn't be able to do is physically show a home. Right? But I mean, you could do virtual home showings with an AI avatar.
00:29:20:14 - 00:29:44:22
Unknown
I mean, it's kind of wild to think like what some of these tech companies are going to be putting out in terms of products that are competing with a traditional agent here even in the next 12 months. So I don't know they'll come that fast, but keep an eye on it. What about for realtors right now? I mean, I don't know any like big pop producers are aren't doing video like it's sort of weird if they're not at this point in the game like and that I mean, that alone should just give you as motivation you have to do it.
00:29:44:22 - 00:30:18:13
Unknown
It's like it's it really isn't I don't in real estate it's such a personal brand business like like you have to be on video. It's your face, not your brokers, your face that matters. Have you seen I still I've yet to see anyone that doesn't like work with yet. I Yeah it's hard to think of any I mean even the ones that are sort of more traditional agents that are have been successful for decades and you know didn't necessarily need to carve out a new audience like they've, they've reluctantly started doing it, you know, just because I mean, you don't want to wait until your clients are asking for it, right?
00:30:18:14 - 00:30:34:14
Unknown
It's like you got to get in front of at least that. And I and I was joking, you know, a few months ago, I was doing a presentation. I basically pointed out I was like, look, when people start getting video messages from their mechanics about their car and what's wrong with it when it's in the shop like star point, they're going to expect this from you.
00:30:34:14 - 00:30:49:16
Unknown
They're going to start asking for it and like you want to be learning it, then it's not it's not something you learn in a day, right? You learn it now. So you can preempt that. And literally in that particular guys guy raise their hands like, you know what, my my BMW dealership just sent me a video message yesterday and I was like, well, I mean, it's happening, right?
00:30:49:16 - 00:31:05:07
Unknown
So I got I got one for my plumber. Like plumber come over. And it was it was cool. Like it was like he and it was a little intro. It was a little about video. I was like, here's your technician. And it was it was like such a personal touch. The kid was like 22 years old, you know, and the company, like, set up the video.
00:31:05:07 - 00:31:18:12
Unknown
But when he showed up to the door, I'm like, yeah, you're the guy in the video. It was I was like a little different of a, you know, tell me, I hate plumber, How are you doing? But now he saw a video. There was a different what's the word is a different exchange of Hey, nice to meet you.
00:31:18:12 - 00:31:37:10
Unknown
I almost felt like a new beat already. Right? It's just like. And it's just that little touch is a difference many times for getting hired or not. Especially when people are like, looking for an agent. You got to stick out and do something differently. Anything else you want to add for 2024? Any other tips? Anything that you want to you tell people to be on the lookout for?
00:31:37:12 - 00:31:54:08
Unknown
Well, you know, I think that honestly, I mean, if you just make video, the focus 2024, you're going to be in good shape. You know, I mean, I think there are other things to think about. Obviously, we've talked a bit about it and that being a big part of those. But I think the reality is like this is the year to do it.
00:31:54:08 - 00:32:13:02
Unknown
The market is going to start to come back to some degree. I think. I mean, I'm I'm not that expert. I'm not the one saying that. But the experts seem to be saying that to some degree. And so, yeah, I mean, you just got to have awareness, right? I mean, you got to have enough people that know who you are, what you what you do, the fact that you're a friendly, trustworthy person that they could see themselves working with in the future.
00:32:13:04 - 00:32:28:24
Unknown
And I just don't see a long term future for people that don't have that awareness. You know, I mean, if you're not if you're not seen as somebody if your face can't pop into my mind when I think about real estate, you're going to be in trouble at this point, right? I mean, I think that that's really it.
00:32:28:24 - 00:32:47:02
Unknown
So I don't you know, because video can be so overwhelming to people. I want to leave it at that. Right. Because, I mean, I don't want to give you other things to to use to procrastinate. So at least when it comes to me, it's like, hey, make it make it all about video, Make it all about getting yourself on camera, whatever that means, even if it's as simple as just saying happy birthday to people.
00:32:47:04 - 00:33:02:01
Unknown
I mean, I think if you did that, you spent 2024, sang Happy Birthday through a video to every single person in your database. And that's the only kind of video you made. You probably can change your business. Yeah, you probably will. 10 to 15% of the people who say hello to you are going to be moving themselves this year in 100%.
00:33:02:01 - 00:33:19:05
Unknown
I'm have referrals. So like whoever. Right. I think you actually sent me a video birthday email before on Facebook. You might have. I think I have. Yeah. I think it sort of sticks out now that I'm thinking about it. But I mean, that's that's like the perfect that's like the perfect example guys. Like, I'm just like, yeah, Nick did send me one of those videos in the past.
00:33:19:07 - 00:33:48:21
Unknown
Now I have like, this is years ago. Yeah, Yeah. Why don't you tell them the video business school or it or buys video Schools act so they can check it out if they want to learn more. Yeah. Yeah, absolutely. So easiest way to find us. Just check out the website. Bizarre video school accounts so busy video school dot com and yeah we got you got some freebies on there I think that's a great place to start you can check out our memberships we do both monthly and annual plans that is not a long term contract.
00:33:48:21 - 00:34:09:13
Unknown
We don't sell any individual courses so it's very much a community based experience. We have an entire curriculum. We have 200 video recipes, which is basically video scripts on steroids. Monthly Challenges Q&A is, you know, all kinds of support tools. I mean, the laundry list is all there. But definitely check us out at bizarre video school dot com.
00:34:09:15 - 00:34:43:16
Unknown
Sweet. Thanks, bro. Appreciate you sharing your insight This episode we appreciate you guys. Another episode of the wrestling Marketing Do podcast folks, if you like this whole thing about generating and staying in front of your database and generating attention from the people that matter most, visit referrals. Sweet Adcom Referral Sweetcorn. We will farm your database through direct mail, video, email and give you everything the post and do on social media each and every day and months so that you don't have to stop thinking about what to do on any of social channels and more importantly, the people that you want to remember what you do for a living will, and then start setting your businesses
00:34:43:16 - 00:35:02:08
Unknown
with attractions all about keep your personal brand from the people that are most and and forget who the hell you are. That's all referral suite does WW dot referral suite dot com. Check it out and hope to see you on the inside. Thanks Nick and appreciate it too. Of course. Thanks for having me. Thank you for watching. Another episode of the Real Estate Marketing Do podcast.
00:35:02:08 - 00:35:23:03
Unknown
If you need help with video or finding out what your brand is. Visit our website at WW w dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:35:23:07 - 00:35:26:02
Unknown
Thanks for watching. Another episode of the podcast will see you next at.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
You're An Entrepreneur, Not a Real Estate Sales Person
18 nov 2023· Real Estate Marketing Dude
If you still see yourself as just someone who sells houses, you might need to reevaluate. In this market, you should be an entrepreneur. You should constantly be looking for new ways to make money in this market and new ways to capitalize on a shifting market.
Resource
Dan's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
00:03:33:13 - 00:04:04:18
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:04:04:20 - 00:04:25:06
Unknown
What's up? Ladies and gentlemen, welcome to Other Up. So the Real Estate Marketing Dude podcast folks, Rome is burning. Things are going all crazy. Holy shit. There's another NAR lawsuit. This one claims to take down the industry. The number two just came out, I think, yesterday. Folks, this is not going away. And what's going to happen? Sorry, my mic's like pulling on me.
00:04:25:06 - 00:04:43:04
Unknown
But what's going to happen is that the cream is going to. What's up? What's the saying? The cream rise of the top or what am I trying to say? Cream rises to the top. I think that's what what I'm trying to say. But that's what's going to happen. This is like a what's the DA wisdom rule called survival of the fittest.
00:04:43:04 - 00:05:08:11
Unknown
Right? That's what's going to happen. Survival of the fittest right now. And people are freaking out. I'm loving it. Like, not that people are freaking out, but I just see nothing but giant opportunities because I love paradigm shifts in the market when everything is going so smooth, so easy, no one changes and you become complacent. And that's that complacency that's got you kicking yourself in the pants right now because you haven't changed in the market.
00:05:08:11 - 00:05:25:18
Unknown
Just caught you with your pants down. And when that happens, you have to change. And so many people are just stuck right now. They're like still like me and they're not doing anything. But folks, if you listen and pay attention, if I told you last quarter here, it's just going to be about what to do when that shit changes and this is going to be one of those shows.
00:05:25:20 - 00:05:42:24
Unknown
So we brought on Coach Dan Gordon and Dan is going to go out and Ganz. A whole brand is for bad ass entrepreneurs only. Okay, so we're going to talk to you about entrepreneurial ism because you're not another salesperson chasing a check. You're selling houses in real estate. You're you don't work for your broker, you work for yourself.
00:05:43:05 - 00:06:00:03
Unknown
And if you're not positioned as an entrepreneur or you don't view yourself as an entrepreneur, I will promise you you're going to be out of business in the next 6 to 12 months. So without further ado, let's go ahead and introduce our guest coach. Dan, what's up, Dan? Mike, thank you. Thank you. Thank you for having me. I just.
00:06:00:03 - 00:06:22:09
Unknown
I love what you shared. I am a big fan of things changing. I'm a big fan of things breaking in. I'm a big fan of things failing because in breaking, failing and changing, that's where you learn the most about yourself. That's where you grow. But as human beings, we are designed to avoid new things. It's just it is endemic in our humanity.
00:06:22:14 - 00:06:46:07
Unknown
And your ego, like the part of you that keeps you safe, tells you don't do anything new. And when something new happens, it says, run away from it. Yeah, but look, I have studied successful people all of my professional career and the one throughline of every successful person I'm talking from Richard Branson to Dr. King was the Theresa.
00:06:46:09 - 00:07:11:14
Unknown
Everybody who has made a splash in the world. They have run towards change, not away from that. Now, it's an easy thing to say. I mean, that's a refrigerator magnet, that's an Instagram post. But how do you do it? Right? It reminds me of like when I went skydiving, I was all about skydiving too. My instructor rolls open the door at 10,000 feet and I'm like, Holy shit at this.
00:07:11:14 - 00:07:37:08
Unknown
It just got super real. Yeah, that's so here's the here's the first thing I want you. Thank you, Mike. You too, listener to remind yourself of. And that is, I'm safe no matter what's going on. That's different or crazy or you're worried about actually, you're safe. And it is in worry that you shut down your creative pipeline and things get worse.
00:07:37:10 - 00:07:58:03
Unknown
So worrying does not help. We only worry because we. Because we feel like we're in control. If I'm worried about something, I'm taking action. You're not. You're actually limiting yourself. So the first thing you have to do is you have to surrender, worry And and remember, if something was going to take you down, it would happen by now.
00:07:58:05 - 00:08:25:18
Unknown
You know, the fact and I love realtors, I love people who are in real estate and I've worked with over a thousand entrepreneurs. And the thing I love about people in real estate is they work harder because they have to. It's a really weird business. You begin a real estate business at a very high dollar product, and most people who get into business to not start at a high dollar product, you guys jump right in to the fire.
00:08:25:20 - 00:08:51:24
Unknown
And so because of that, it is so important that you connect with your clients on an emotional level. Thank you at all. Right. And so what that means Wait, everyone has commission breath, though. Everyone's out there selling their Have you seen interest rates that here's the post going around social media right now. You know, here's what happened in 1972 when buyers waited for interest rates to come down.
00:08:52:01 - 00:09:34:13
Unknown
I'm like, Quit selling your shit, dude. Like, why do you always have to sell, stop, start, stop selling and start serving people and watch what happens? Like exactly. You can't be a salesperson anymore. Like you you, you are in sales. Okay? But anyone in sales isn't good unless they're great at service first. Yeah. And. And what you're saying about sales, the the perfunctory term of sales is that everybody hates salespeople because the way that salespeople act now, if you are selling in that way, you aren't a salesperson, you're con artist, you're trying to convince someone to buy something.
00:09:34:15 - 00:10:00:23
Unknown
If and we've all had those experiences where we bought something and think, Wow, the person who sold me this, they weren't like a salesperson at all. They just helped me. But that's what you have to do. So we've been looking at condos in Long Beach, right? And the thing that's so fascinating about this, the the realtors that we've talked to is so many of them, just like you say, Mike, they're just pushing product.
00:10:01:00 - 00:10:21:00
Unknown
Here's what I want to hear. And I've never heard this once, but for my clients who are salespeople, arms who are real estate agents, I've told them to do this and it works like a charm when someone walks into a house that you're selling, you greet them and you say, Hey, can I tell you the thing I don't like about this house?
00:10:21:00 - 00:10:36:08
Unknown
And the three things that I love about this, I see that all the time. I used to trash fucking house and I'd be like, just because, like, honestly, the first showing was like, I always set up a decoy showing because on the first show, no one knows, no matter what you guys like, you guys know the business. Like people say they want this.
00:10:36:08 - 00:10:49:01
Unknown
They never end up buying what they fucking end up saying they want buying from the beginning. So I always threw a bomb in the middle, especially on the first groups of showings. And I was there to earn trust and I'd be like, Dude, I wouldn't like that. I want to let your grandma buy this house with a ten foot pole.
00:10:49:03 - 00:11:05:18
Unknown
Get the fuck out of here. Like, there's no way in hell I'm letting anyone buy this house and I'll talk them out of the sale. But you're right, because what happens is that people are just like, Damn, that guy's looking out for me. And I hate those. The little things are what generate referrals, guys, those little things and all those dos being best interests.
00:11:05:18 - 00:11:24:22
Unknown
My client. Like, if you're worried about yourself, then why the hell would you let them? Like, we just called moral responsibility, dude. Like, I don't. To me, that's common sense, but there's a lot it is people that it's not to it's scary. And you guys are the ones that are going to get your ass kicked as this lawsuit changes.
00:11:24:22 - 00:11:43:12
Unknown
All right. And it is scary. And the scary part is, is that you put all the time and all this effort into work it into something and you get nothing from it. Right. And when that happens over and over, you get traumatized. I mean, straight up, you get traumatized by it and you're worried. This is what I was talking about earlier.
00:11:43:12 - 00:12:07:14
Unknown
Your worries starts telling you a story that it's going to happen again. But the only way is going to happen again If what if you don't do something different? Okay. So I love I love what you said. Trash the place you will gain so much yardage by telling someone I do not like this about this house. And if you buy it, you have to be aware that this exists.
00:12:07:16 - 00:12:33:08
Unknown
And we were looking at this condo and and it was next door to this big apartment complex. And we said, you know what? We're worried that it's going to be noisy. And the the realtor said, oh, they're no, they're really quiet. Right. Like, he knows every person in the apartment complex, like my good. Mike Oh, shit. Mike So what he should have said is, how did you feel, though, right when he said that what you do like internally, you're probably like, Fuck you.
00:12:33:09 - 00:12:55:19
Unknown
This guy's like, I didn't do anything internally. I laughed at him. Did you still use him? Well, no, of course not. See, we. Do you see those guys? But if he had said, Look, you're right. It could be. It could be. No, you see, I don't know. I would spend the night here. But the fact is, this place is $100,000 cheaper than the one down the street.
00:12:55:22 - 00:13:16:15
Unknown
It looks exactly like this that doesn't have an apartment complex next to it. So you're going to have to trade either a potential for some noise or spending an extra 100 k. And I'm I'm glad either way I remember a glad sorry to me after yes I'm sick. That would have made me trust him. That would have made me say, you know what?
00:13:16:15 - 00:13:41:05
Unknown
Right. But you cannot any objection that somebody has. You cannot counter that objection by trying to convince them that their objection is real. You start with this. Hey, I get it or that makes sense. Whatever they say, start with, Hey, I get it or that makes sense. And you will gain their trust, Be on their side. Do not be on your side.
00:13:41:05 - 00:14:12:01
Unknown
Nobody cares about you. They care about themselves. So don't just promote the house like it's lipstick on a pig. Be honest, be authentic. Even if they don't buy that house, they're going to come back to to you, which is how we got our realtor in Long Beach. It's somebody who did that, and we picked her up. And when I was selling real estate in Chicago, one of the listings I took didn't hire their previous agent, and I'm not going to call them out, but you know who you are calling you scumbag.
00:14:12:03 - 00:14:33:10
Unknown
But anyway, anyways, I guess when she bought the house and I lived on it, if you don't know what the deal is, it's a train. Okay? Oh, yeah, Yeah, for sure. And if you live next to the train, that thing is loud. I lived on the hill for three years, so I know it front and hand. And he told this buyer that was now my seller at the time that.
00:14:33:13 - 00:14:51:19
Unknown
Oh well the, the CTA is going to go ahead and put rubber. They have plans to put rubber wheels on all the all trains and that's going to actually increase your value because the only reason this is a good price right now is because the property is next to the L train. But once that noise factor goes away, you're like into a 10 to 15% equity cushion.
00:14:51:19 - 00:15:06:06
Unknown
No doubt. I'm like, Huh. You think they that that train is louder now than it's ever been since it's been alive there. But same thing. You just talk some into it and look how much you what was the opportunity cost on that? Right. Well, I got to listen a couple of years later and that turned into buy two.
00:15:06:06 - 00:15:36:09
Unknown
So be honest. I like it. Let's go to the point in time in your at surrender. Yeah. And then what's next? Listen to what people are saying like and you have to listen to people beneath their words, right? So if somebody says it's too expensive, what are they really saying? They're saying, I'm afraid I'm going to spend a lot of money and I'm not going to get value out of this.
00:15:36:11 - 00:15:47:04
Unknown
I'm not going to get what I want. And so, again, someone says it's too expensive. Like, yeah, I know the market is crazy right now.
00:15:47:06 - 00:16:24:01
Unknown
It is expensive, but let's talk about what it is that you want to so you get someone to open up. Just get them talking about their feelings because people do not buy based on logic, they buy based on emotion. People don't buy on price. They base, they buy based on emotion. And if you are not talking with someone about emotion, about the things that they want, about the things that they're concerned about, but the things that they love, then you're having a conversation that is happening.
00:16:24:01 - 00:16:47:07
Unknown
It's like talking to someone across a courtyard and yelling back and forth at them as opposed to being right up with them and chatting with them like I'm when when I talk with someone, one of the first things I say is, Hey, what's the best thing that's happened to us so far today? Right? Because it gets them into what their feelings are.
00:16:47:13 - 00:17:07:11
Unknown
So whenever I walk into a or whatever, we we walk into a condo that we're looking at, it's always the same questions. How long have have you been looking? Have you been looking in the area and do you have in your head? Yeah, right. And those three questions are designed to get business out of here. Got question number four?
00:17:07:12 - 00:17:26:21
Unknown
Can you please sign in here? Yeah. Oh, can you please sign in here? Give me your give me your Social Security number where you live and everything else. And so I could call you and try to close you. I saw you on something. Stop asking people to sign it. Stop it, Stop it, Stop it. Please, Please. Unless they show interest in you.
00:17:26:23 - 00:17:42:22
Unknown
Look, if people dated or tried to date the way that people try to sell. This is how. This is how it would go. You'd walk up to someone in in the bar and go, Hey, give me your phone number. And then they'd be like, Wait, what? Like, Hey, what do you say we go back to my place? I would think it'd be the other way.
00:17:42:22 - 00:18:03:23
Unknown
You didn't ask for the phone number. You're just saying that there is no phone number. I just go back to my place. You have to warm people up, and you have to really be focused on what they want, how they're feeling, what they're struggling with. You know, it's when someone walks in, say, hey, you know, how was your buying?
00:18:04:00 - 00:18:25:14
Unknown
You know, how is your house shopping experience going? I and they're going to say, yeah, it's been a little rough. Yeah. Yeah, I bet it is. I mean, I don't I don't envy you. Yeah. You know, I mean, you know, it's. Yeah, it's rough selling houses, but you have it worse. I show that you understand them. Go to where they are.
00:18:25:16 - 00:18:53:04
Unknown
Let me ask you a question. Just switched this topic up a tad. And like, right now you have 8% interest rates essentially. Hmm. Properties are way overvalued. The others and if they're not, they're they're expensive. Like they don't come down but like just it's simple math to me. Like there's only so many people that can afford so many houses at some time, but when it's at 8% rate.
00:18:53:04 - 00:19:11:00
Unknown
So not only that, but then you have this NAR lawsuit that comes into the mix. Yeah, Realtors are already having a bad year. They're already people are quitting left and right, like it's happening. Like, of course it's going to move. Transactions are down 30%. Of course you're going to lose agents or just common sense. But what do you tell someone right now that has all this this adversity and challenges?
00:19:11:00 - 00:19:27:01
Unknown
Because they're look from agents and I understand, guys, you're going to have to change. But I understand they are scared. And what do you tell them right now? They're go they're my reality is commission compressions real right. You guys are going to be getting 5% on a listing anymore. It's just not going to happen. Like you could start.
00:19:27:01 - 00:19:41:10
Unknown
My guess is my guess is going to go down to about one and a half percent would be what I would anticipate. My side's going down, too, which means it's going to be cut like 40%. I don't think it can happen overnight. I think it's going to be like five years from now. However, what do you tell someone with that?
00:19:41:10 - 00:20:07:13
Unknown
What what what is the opportunity now? Well, every entrepreneur who comes to me has a reason why they're not selling. It's the economy. You know, it was COVID. It's my mother in law, Right? It's this. And what I say to everybody is somebody's selling right. Right now there somebody with a lot of money spending a lot of money on something really expensive.
00:20:07:15 - 00:20:31:06
Unknown
Well, who is that person selling it to them? What are they doing? And the big question is, have you invested your time and energy in learning how to sell better? Have you watched YouTube videos? Have you talked to people who are doing well? Have you researched online people in your area, realtors who are selling well? Have you had lunch with them?
00:20:31:08 - 00:20:57:16
Unknown
Right. Not to pick their brain, but just say, hey, I just like get to know people in your business who are doing well in your business. You don't have to buy anything from them. Just get to know them. Yeah. Because there is a way that you are being if you are struggling that is not working. And if you try to keep doing more of this same thing, it's like driving faster in the wrong direction.
00:20:57:18 - 00:21:16:17
Unknown
So it's up to you to to find out. And I and I actually like to help all of you. I have a giveaway kind of give your audience something to shoot. Okay. So I have a book called Jump in the Gap, Kill Your Story and Take Action. And this is a book that I wrote about seven years ago after I lost everything.
00:21:16:17 - 00:21:38:13
Unknown
And in a month I lost $70,000. I lost my marketing company. My world went to shit eight months later, I walked out on stage in Dallas, Texas, being paid $10,000 for my first speaking gig. Now the journey from the floor to the stage was all about changing the stories in my head. What I believe, like the real estate market is crap.
00:21:38:14 - 00:22:04:03
Unknown
That's a story. Now, of course, in the 3D world, you can point to it and say, Yeah, it's actually happening. But I'll say again, somebody is selling houses, somebody's buying houses. You can be that person. So changing your story is the beginning. So to get my book, it's free. Just text the word gap GAAP to this number 2134 or 9836x2134098366.
00:22:04:03 - 00:22:32:20
Unknown
Text the word gap GAAP to 2134098366. Text the word gap and you can download. It's a quick easy read. And so many people have told me, Wow, this really blew my mind. I thought these things that I believed were real. Turns out it was just a story. And the great thing when you stop telling yourself stories, you can get the people that you're selling to to stop telling themselves stories like it's too expensive.
00:22:32:20 - 00:22:55:03
Unknown
Now isn't a good time. I'm not ready. Those are all stories. Yeah. Jumping the gap is about moving yourself and moving other people from one side of where they are, where they don't want to be, to the other side, where they do want to be over the gap of their fears. And the only reason that you're struggling right now is because you have fear.
00:22:55:05 - 00:23:26:03
Unknown
You have fear that you're not good enough. That is not going to work and you're afraid of investing yourself in learning new things. Because when you learn new, new things, there is you realize the shit ton of things that you don't know. It's it is. It's terrifically intimidating. Oh, wow. I have to learn all these new, new things and but it's the only way when I change my my life, I had to learn so many new things in such a short period of time.
00:23:26:05 - 00:23:50:12
Unknown
And it was really hard. But you know what I got used to? I got used to not knowing things and I got used to failing and not knowing things. And failing is the best way to turn your life around in. Sounds like we're very similar stories in our personal lives, but you guys look what is is absolutely true.
00:23:50:12 - 00:24:10:22
Unknown
Like until, you know, I say survival of the fittest. It's like the squirrel is out there, figures out where the nuts are, right? He's just going to figure it out. Animals figure it out, and you'll just figure it out, too. But you have to change, like and that's the opportunity there is right now. And it is reluctant. I remember when I was making so much money that my ego was so big that I was my own worst enemy.
00:24:10:24 - 00:24:33:10
Unknown
And what and what ended up happening was I wouldn't change. Like I couldn't at that time, I couldn't even like book appointment on my own calendar because I'd have someone do it for me. I couldn't even I couldn't even do the most basic shit. Like, seriously, I'm embarrassed about that whole time in my life. And it wasn't until I went broke that I had no money, that I had to just get back and figure out myself.
00:24:33:10 - 00:24:56:21
Unknown
But it took the complacency that I was at like the 3 to 4 year period. Whenever that was two, three years, whatever it was fucked up my mind so bad that I literally couldn't even do anything like I could. I was just so used to having everything done for me and everyone saying yes to me, whatever the fuck I wanted to do that When I when everyone left and the money was gone, I couldn't even fucking put on my own damn pants, dude.
00:24:56:21 - 00:25:17:20
Unknown
Like, it was embarrassing and it took that. I don't know if the word is, but it took that experience, that humble, humble humbleness, I guess humbling experience to literally, like now I'm it's like if I won't let anyone do anything I haven't done first because I have to do it like especially now, business are growing. I'm hiring, I'm doing this doing that.
00:25:17:23 - 00:25:34:08
Unknown
Yeah. And I don't believe you can run any company without something you haven't done yourself. At least be lead of it. And I'm I'm putting myself in all those positions. I personally will shoot videos of people. I personally done all this stuff. I grinded it out because I know the process. I'm perfecting the process. Then I'll teach somebody else.
00:25:34:10 - 00:25:49:22
Unknown
And when I teach not to somebody else, until they're ready, they're going to do with another person. They're going to do it in another person. And I can keep fucking going until I have 20 of you guys, right? And it's just same thing. Like, I'm going through a lot of reflection right now. I read two books this month I haven't reread.
00:25:49:24 - 00:26:08:11
Unknown
I wrote two books this month. I haven't read a book in fucking five years. Well, you know, I, I in the gap that I'm going to business church event tonight. Yeah. Sign up for a conference. I'm. You have to do this stuff, guys. Like, I'm pushing myself out. I'm doing it. But you have to do it too. And that's the opportunity, the business.
00:26:08:11 - 00:26:33:17
Unknown
If you stick around with all these Debbie Downers and people doing the same shit, you're going to be one of them. So you have to get out, go to these events, fly across the country, call Coach Dan, fire people, get with people, listen to people, read, do everything you weren't doing 12 or 18 months ago. We're closing doors in Be afraid like seek discomfort.
00:26:33:19 - 00:26:59:12
Unknown
Yeah. Things that you don't want to do. Do those things. If you find yourself comfortable in conversations, you're talking to the wrong people. If you're if you're unloading with someone and you're both griping about the industry right now, you're talking to the wrong person. Yep. If you are not talking to someone who is doing ten times better than you, you are wasting your time.
00:26:59:14 - 00:27:22:11
Unknown
You always want to be the dumbest person in the room. You're your industry is changing dramatically as all industries are. You got to stay on top of the wave and that's going to mean investing yourself in doing the things you don't want to do because that's what every successful person has done throughout history. I like it. Why don't you tell them one more time?
00:27:22:11 - 00:28:04:09
Unknown
You get that book? Yeah. Jump in the gap, kill your story and take action. Just text the word gap GAAP to 1340983662134 or 98366. Text the word gap GAAP. Appreciate coach Dan appreciate you guys listening folks if you like that change it's time to go ahead and check out the software we just released referral suite dot com that's WW W that referral suite dot com it's as yet just like the popsicle and the reason why is because the industry is changing we're changing with it so for all of you that stop and you neglect your database because that's the reality where the business really comes from the people you know, like a trust and like
00:28:04:11 - 00:28:21:10
Unknown
trust you, well, now's the time to change and start marketing them, right? If you're not generating ancillary streams of income with your service from companies like solar Mortgage and all these other streams of income that you're literally just passing by, well, you need to check out referrals. Me folks, build a brand. Your brokers are going to do it for you.
00:28:21:12 - 00:28:40:21
Unknown
You work for yourself. I don't care who you work with or where you hang your license, now's the time to do it. Put on your big boy pants. See you on the other side. PS Thank you for watching another episode of the Real Estate Marketing. Do podcast. If you need help with video or finding out what your brand is, visit our web site at WW dot Real estate Marketing dude dot com.
00:28:40:24 - 00:28:56:14
Unknown
We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Pivot (ft. Nick Sarnicola)
11 nov 2023· Real Estate Marketing Dude
Todays market is a brutal one. If you are going to succeed, you need to learn how to pivot. If you are stuck in the same old business strategy, you might be in for a rude awakening.
Resource
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
00:01:29:05 - 00:02:00:08
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:02:00:10 - 00:02:23:24
Unknown
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast. Folks, we've got a lot to talk about today. I want you. If you're sitting to work working out, I want you to stop working out and grab your pen and paper. If you're sitting at a desk, grab your damn pen and paper, because we're going to be chatting about today is exactly how to pivot in today's marketplace, because I can't tell you the amount of stories, the amount of posts I see on social media.
00:02:24:01 - 00:02:45:14
Unknown
As a matter of fact, I just logged on to Facebook one day today and in the post that I read was, Hey guys, it was an anonymous, of course, because no one wants to admit this, but this is happening all over the country with people in the industry. And she goes, Ah, he says, Hey guys, this is the worst year I've ever had in my life and I'm not going to make my mortgage payment in the next 30 days.
00:02:45:16 - 00:03:07:02
Unknown
I don't know what the fuck to do. Essentially, where do I do? Guys like they're just asking for help. And this is a consistent story's us right here, folks. 90% of the industry has never seen a shift. Repeat that. 90% of the industry's never seen a shift. And if your broker has ever seen a shift, it's very hard to find leadership in this marketplace today because you got to see people who are doing it.
00:03:07:04 - 00:03:23:02
Unknown
Reality is that these are the best times. And even though it might be hard right now, whoever does pivot, this is when people are born, this is when brands are built. So market share is taken. And this is when you really build your legacy. It's when things go easy that it's very hard to stand out. When things don't go easy, it's very easy to stand out.
00:03:23:04 - 00:03:44:23
Unknown
So the opportunity you have in front of you is very trying for any of you guys. And it might not be smooth road right now, might feel a little rocky and that's normal. Welcome to the shift. But it's what you do and how you react is going to make the difference. So if you don't want to end up like the story I'm going to or I just told you about, I want you to listen to our guests today because this guy knows all about pivoting.
00:03:45:00 - 00:04:06:14
Unknown
Absolutely. Lutely, super successful, sold his company. I'm not going to let him tell you, because this guy's a serial entrepreneur, but there's not a better person to have today than the get your get out of your damn box. Get outside your box, get out of your own head. There's a ton of opportunity, but you need to pivot. So without further ado, let's go out and introduce our guest, Mr. Nixon, a Did I say your last name right?
00:04:06:14 - 00:04:23:17
Unknown
Nick In Alamance article it's like Coca Cola. That's not Italian, is it? It is. Jesus. I didn't think it was. Oh, my goodness. All right, let's tell everyone who the hell you are. What are you doing? What are we good to talk about today? Yeah. All right, I'll. Maybe I'll give you a call about 92nd or 62nd version.
00:04:23:17 - 00:04:40:16
Unknown
So I live in Miami. Data entrepreneur, originally from Michigan, super blue collar, middle class upbringing. All four grandparents worked at the same factory. Dad, uncles, brothers, all worked there. I said, Hell no, I'm never working there. I want to be rich one day. Couldn't sing and dance, couldn't rhyme, can't act, can't play an instrument, not going to do anything illegal.
00:04:40:16 - 00:04:57:23
Unknown
So what was left? Sports. When I played college baseball while playing college baseball got introduced to kind of like I would say, the lowest common denominator to sales and entrepreneurship, which was the direct sales and work marketing and sales. 18 I drank the Kool-Aid. I made no money for several years, but I attended every event and every training.
00:04:58:00 - 00:05:21:13
Unknown
And that's the best part about that industry. It's just nonstop community culture and training. And you're just, you know, you're trial by fire. And I learn sales, I learn objection handling, I learn prospecting. And then finally, I learned leadership made my first million and direct sales at 25. Company went to business. I bought the assets of that company and gave birth to a company called by Salus and it was a 15 year run.
00:05:21:15 - 00:05:38:15
Unknown
But on that journey we built it up to about 40 million a year. It crashed in 12 months. It went from 3 million a month in sales to 600,000 a month in sales, and that was because of the recession, the same one that hit all the all in real estate in 2009. It buried our high end anti-aging supplement company.
00:05:38:17 - 00:06:03:14
Unknown
And what did we have to do? We had to pivot. And I'll talk about that pivot later. But we pivoted. We created body buy by the 90 day challenge. We did 2.2 billion in sales, 19 countries, 3.6 million customers made tens of millions of dollars, personally created 70 millionaires. It was freaking epic. Sold the company three years ago and now a company called Renewable Real Estate, which is a platform that connects real estate agents to the best solar professionals out there.
00:06:03:14 - 00:06:25:13
Unknown
And does a commission split down the middle to both sides. So I get it in 75 seconds, I think. Yeah, I think I think you freakin nailed it. You might have done this before. I think. Oh, yeah, you guys in the 2009 was the last time the market. What you talking about? We need to pivot. So last time the market for those are there weren't around which again is 90% of the people are listening to this right now.
00:06:25:13 - 00:06:47:23
Unknown
If you're still practicing there's all kinds of opportunity in those times as well. But it wasn't just sitting there. And what I see in the industry today is a tremendous amount of opportunity to pivot. You can see what's going on and here's why. You guys. Let me first just paint the picture. If you got your head in the fucking sand, there's a huge there's a huge lawsuit going on right here, some tapping new commissions.
00:06:47:23 - 00:07:06:08
Unknown
Commission compression is real. It is happening. The days of you getting 5 to 6% commission are no longer. It's not going to happen because what's going to happen? I guarantee it. I mean, right for the last ten years of this damn podcast, I guarantee you I'm right on this one. What's going to happen is that people are going to start undercutting themselves and you're going to compete on value in price.
00:07:06:08 - 00:07:24:04
Unknown
Initially, that's what's going to happen because Narcan no longer control buyers, agent commission, that's going to go away. You can't say you have to get credit cooperating commission. And when agents start going up against each other and there's a lack of value, people immediately compete on price. So that 5% commission is going to go down to four and a half and you'll be like, No, that motherfucker took four and a half.
00:07:24:04 - 00:07:51:19
Unknown
I'm going down the 4%. Fine. I just want the damn sign in the yard. Fuck, I'll do a signing yard for three and a half, and that's the beginning of it. You guys, are everybody in real estate? You no longer sell real estate. You are the fucking digital mayor of your damn market. You are everything home services, You are Home Depot, and you have to be everything around the transaction of real estate buying and selling real estate, I believe, is only part of your job, even though it's probably one of the most fruitful, one of the most, you know, lucrative pieces.
00:07:51:21 - 00:08:17:24
Unknown
It's not all. And that's why, you know, a guy like Nick came over and created a solution for solar income opportunities for real estate agents because you share that client. But that's part of the battle. Solar is just one aspect of it. I believe you guys have a multitude of opportunity to get in there. This is the reason why mortgage companies are creating is legally so that real estate agents can actually partake in a commission of the lending company.
00:08:18:01 - 00:08:38:11
Unknown
You're going to see this across all fronts because it doesn't mean you're going be out of business. Just the way we did business is going to change and change, and I think now's the perfect opportunity to change with it, because whoever does is going to be the one standing while everyone else is floundering. And what happened in 2009 were that not the people didn't change what happened.
00:08:38:13 - 00:09:00:22
Unknown
They got crushed. So sorry to go on a long winded rant there, but walk us through this pivot because I see nothing but opportunity here. And although it's painful right now, if you're a real estate agent, what the hell are you doing? Well, I think number one is talking about pivoting in general philosophically and God has a sense of irony in my opinion.
00:09:00:22 - 00:09:26:18
Unknown
There's there's two major things that are required of us to be highly successful as either an entrepreneur, a sales professional, or a sales leader or even a solopreneur. There's two requirements like, you cannot argue it. It's law. One is you must overcome your fear of rejection, and two is you must be constantly changing. But then you had God is like, Let me just fuck with people.
00:09:26:23 - 00:09:48:22
Unknown
I'm going to make you so highly resistant to these two things that you will literally break down. You'll take anxiety pills, you'll go search out, you know, a shamans in the deep forest. You're going to do whatever it takes to figure out how to overcome the pain of rejection and and change. And I really think about that all the time.
00:09:48:22 - 00:10:08:04
Unknown
Like, okay, to become successful, the biggest fear of all people is the fear of rejection. A lot of people argue, No, no, no. It's a fear of public speaking, and I'll argue back. That's just a fear of being rejected while people speaking publicly. That's that's what that rejection of what's what that fear is. Right. So that that fear is required in order to sell because you're constantly being rejected.
00:10:08:08 - 00:10:31:06
Unknown
Everyone on the line right now knows you cannot sell if you're not if you can't handle rejection. School preparedness. Absolutely terribly for this school said get 59 out of 100. Right. And you're a failure. Now, we're over here in sales. We got 59 out of 100. Right? You're a millionaire or beyond. In business as an entrepreneur, you only got to get one right?
00:10:31:06 - 00:10:47:00
Unknown
I got one right. That's it. My career and it made me tens of millions of dollars. Right? So that's the failure part. And then there's that second part. The second part is change. And I'll tell you guys, it's way easier. It's way easier to get over the first one. The fear of rejection than it is to get over the second one.
00:10:47:00 - 00:11:09:22
Unknown
Because once you overcome the fear of rejection and everything is working, that's when shit starts changing. And we don't want like, I think we're more accepting producers, performers, producers, performers. We're more accepting to change when things are not working, then we are things are working and which is what you might be saying. Shit, shit. Sitting, working right now.
00:11:09:22 - 00:11:33:22
Unknown
Nick But hang on a second. Turn back the clock. I don't know. I was 18 months ago. 18 months ago, real estate was the top of the top of the top of, of, of the game. You guys were killing it here in Miami. You didn't have to show up in. You're making $10,000 commission. 15,000 a commission because people were just sending you offers so nobody would see you wouldn't thrown open house and that was so easy to you.
00:11:33:22 - 00:11:52:16
Unknown
The last thing you want to do is change that. Right? So a little bit of a rant there. But philosophically, you overcoming change, a pivot is change. And that is hardwired for us to be up against as a human. Let's that is really good. I want to dig even deeper at that. He writes, She knows fear is required.
00:11:52:16 - 00:12:10:18
Unknown
I have my mantras. Faith over fear. I have no fear because I have faith. And that's honestly been the story of my last seven years. It's how I actually moved to San Diego. And you have this. I'm not saying you have to follow Jesus. I want you to encourage you to guys, but that is up to you. But you do have to overcome that fear of rejection.
00:12:10:18 - 00:12:31:24
Unknown
That's my way of overdoing, of doing it. And many things in life, Right. So whatever that is, that is as cool as I remember when I first got out here, I went to a mastermind and Jesse Hartzler spoke. Yeah, and it's there. It gets up there and I'll never forget this. And he's like, so broke, you got to fucking be uncomfortable or no, you got to be comfortable being uncomfortable.
00:12:32:01 - 00:12:45:23
Unknown
And I'm like that, that's being uncomfortable. And I sat there and just thought about it, like, and think about it like you're not growing if you're not right. That's really what you're saying here is because then the second part is to change. Like people don't. You're right. No one wants to actually change when the going's good. Like, No, no.
00:12:46:00 - 00:13:08:06
Unknown
Who wants to work? Like, come on, I've just made 50 grand last week, working 10 hours last month or last week. You want to change but that? Yeah. Then you think it's going to go well. And let me give you guys another example. Just I'm just over packing this from video perspective. So we have a video marketing company and in real estate and we're not doing anymore because we got our asses kicked with the business.
00:13:08:06 - 00:13:23:23
Unknown
So I had to pivot. I pivoted into the attorney world. We create content for them now, but I saw the pivot and there's always a pivot there. That's another example of mine. But let's just take someone who is trying to get on video and build a personal brand. Everybody is scared because of what they're going to look like on camera.
00:13:23:23 - 00:13:41:07
Unknown
Never before it is. This little six inch device made a grown ass man buckle at the knees and turn into a little, little, little child. But it does for some reason. Why? Because you're fucking scared of a little device. Why you're not scared when someone wants to hand you money unless you're allergic to it. So literally, right here, you got it.
00:13:41:07 - 00:14:00:11
Unknown
Breaks them out. Why? Because it's new. They're scared of what people are going to say about them. But the ones who did change and I don't know anyone who's been on video consistently over the last 18 months to 24 months that isn't successful now. And that's not just by accident, is it? It's because they built a personal brand, but you have to be willing to do what others won't.
00:14:00:11 - 00:14:19:06
Unknown
So well-said. I love that point. You guys unpack that. That is so, so, so, so good. Now changing. Yeah, let's get into it. So I sort of went off on a tangent there. I thought that was really well put. Today's opportunity. Yeah. What is that change? Because I think what people really want is, All right, give me specifics.
00:14:19:06 - 00:14:35:14
Unknown
I good. I have to change it by blah, blah, blah. And some people like the person I mentioned, when your backs up against a wall like this is survival of the fittest. This is why people survive when there's no water for months is because when it hits the fan, you fucking figure it out. And I bet I've experienced so much.
00:14:35:14 - 00:14:50:18
Unknown
But I'd like to see what are those things right now? Like, what do we do? You don't have a choice, right? You know I'm a choice. So I'm going to go back to a quick story that 2009, when our sales dropped from 3 million about to 6000 a month, we had just got bought a year earlier, so we got bought at our peak and then it crashed.
00:14:50:20 - 00:15:10:22
Unknown
This was a publicly traded company who's a billion and a half dollars, and they decided based on that next years of sales to write us down. Now, when a company is public, write you down what that says is they claimed you as a failure and they got a tax break on their investment in you. It's the most embarrassing thing that can happen to you as a company.
00:15:11:03 - 00:15:29:12
Unknown
When an investor buys you and then writes you down as it's not like your cousin is like, I'm writing you off at these, don't send you a Christmas present more. This is a publicly traded company. You're listed as a tax deduction because their investment was shit in you, in their opinion. So they said, Look, this pile is your pile.
00:15:29:14 - 00:15:50:07
Unknown
We're out. No giving it no more money. If you want to save it, you save it. And we locked herself in a room, my partners and I. And we had, we had. We broke apart every piece of the business. And here's what we ended up doing. We took our third most successful product, which the margin of success between product number one and product number three.
00:15:50:09 - 00:16:08:15
Unknown
Wasn't it wasn't like a relative number that was like, wow, it's a close third place. It was like 70% of sales to 20% of sales, 4% of sales. Like it was irrelevant. This third product was a meal replacement. We said, Look, everyone's broke right now, but what are they going to keep doing? They're going to keep eating. Okay.
00:16:08:19 - 00:16:24:15
Unknown
So they have to keep eating. Got it. All right. Well, why don't we table let's put the meal replacement first. So now you guys ask yourself where inside your business model is the must, where inside your business model is? They have to, no matter what, no matter what happens to the market, no matter what happens to this or that.
00:16:24:21 - 00:16:42:02
Unknown
I think in real estate 2009, it would have been all of the all the foreclosures, the short sales and arbitrage, where I was that I was like, screw the short sales. And the ones I learned it killed it, right? Yeah, the ones who learned to kill it. You made the adjustment, you crushed it, said this is what's going to happen.
00:16:42:04 - 00:16:59:04
Unknown
So we said, okay, I'm the only place it's not enough. Let's create a referrer. Three years, a three campaign, and then let's package it around something that had never been done before, which was let's launch a 90 day challenge. That way they buy our product for at least 90 days. We and that sounds like it's like, well, those are a dime a dozen.
00:16:59:05 - 00:17:18:12
Unknown
They weren't then. We were the first ones where the fathers are the godfathers of child based marketing. So we came up with a blue ocean. So what's a blue ocean? That was you guys. The challenges we were never back. Yeah, that's great. I use those out of my time now. Thanks, Audie. Bye bye. The 90 day challenge we enter to win 2 billion plus in sales.
00:17:18:12 - 00:17:36:06
Unknown
Right? But that was all forced because we were forced to change. Otherwise, that idea never happens. So we made the decision. We put all of our money in and like I said, it works, but not all of that's great for us. And back then, let's bring this to you in the now. So you've got your back against the wall.
00:17:36:08 - 00:17:52:17
Unknown
Maybe your broker does, maybe your whole team does. Are you all going to scurry? We watched a bunch of leaders scurry this little rats off the off the boat scurrying to another boat. That's going to save opportunity, though, correct? It's about right now. You got to find your tribe. I think that's a really important point. Who's your partner?
00:17:52:18 - 00:18:12:11
Unknown
Who's your tribe? Who's who's going to no matter how bad it gets, go to war with you. I mean, you're going to make those calls together. You're going to do that. You're going to knock the doors together. You do whatever the hell it takes together, including the leader. Are the leaders. Got to be all in on this. If you've got a leader that's got you know, they're a pilot with a parachute on that, that's a that's a bad that's a bad sign.
00:18:12:13 - 00:18:32:15
Unknown
So I think I think it's starting that one I'm making it back to you is if you're going to fight this thing out, you're going to win. It's you're going to have to make the decision. I pivot as required. Ah, where's the blue ocean and or where's what's something else that can be sold in the now And then lastly, you've got the book up there.
00:18:32:18 - 00:18:53:04
Unknown
Yes. And then lastly, who's your tribe that you're going to war with? And you can count on, even though you guys are fighting a a battle where it's like it's just the gladiator, three hundreds against that person, you know, army. It's like, who's your 300? You kick it out to you. So that's pretty cool. Just out of curiosity.
00:18:53:04 - 00:19:07:21
Unknown
Question, What would have happened if you had they they, they cut you, they cut all your capital off. They they stopped investigating. What would it have to cut it? What would have happened to you? Like, did you guys if you didn't do it like you just when it went bankrupt, you would have broke what. Yeah, they would. They would they would have shut the doors and a lot of been the end of it.
00:19:07:21 - 00:19:27:01
Unknown
So we the three of us put four or 5 million and it was the last dollar any of us had and we put four or 5 million in 1.6 or something like that. And they, they gave us a3x liquidation profit. So like, sure kids, you think that's bullshit, We didn't buy this garbage, we bought this company. You're trying to you're trying to make it a new company.
00:19:27:05 - 00:19:48:00
Unknown
You put the money in. So they gave us a3x liquidation preference on just that route alone. So we ended up taking out 4.8 or 4.5 each based on making it work the next year. And then we got our whole buyout in the following years to come. Otherwise it would have been the end of it. I would even add a third tier one and two and the third being all in.
00:19:48:00 - 00:20:04:05
Unknown
You need to go all in on yourself then. Oh, required. You get you can't, you can't like turn back like you can't even have a second of hesitation. You know what I mean. Like you can't be like, oh well was this the right decision, bro? If you're even asking that question, it wasn't your food. I mean, you let me think about your food at that point.
00:20:04:05 - 00:20:29:18
Unknown
You got it's like you have all these gazelles trying to figure out like, go straight, left or right and you're one of the gazelles and you're going to slow down and question your decision. And once it's like you're whether it's left straight or right, whatever it is, run your ass off and keep going and don't look back. So one is and I don't know if you guys the cards is basically surround yourself with the people that are going to need the same shared clients.
00:20:29:18 - 00:20:47:05
Unknown
I mean, this is like this is really simple like you guys could just the mortgage brokers having just as much trouble as you are. You want to find the one that's just as hungry as you are. Same with title, same with every other ancillary service around the transaction. That's point one. I'm going to do like I'm going to go out there and get my tribe to.
00:20:47:10 - 00:21:03:24
Unknown
I think you got to be loud. Like while everyone else is in retreat, you need to scream from the fucking rooftops. This involves marketing, don't you? Got This is when you triple down on marketing. This is when like because it's all attention based in this business, people don't really care who their real estate agent is and the vast majority of them over to the tune of 90% higher.
00:21:03:24 - 00:21:26:16
Unknown
The first one they meet with. Therefore, what's your fucking job? Become the first one they meet with. Focus on your personal brand, Blow it up because a lot of people are going to go quiet. I think that's a huge opportunity for right now. Well said. A lot of I'm going to go quiet, brother, because nobody committed. If you read Influence by Karl Dini, The Psychology of Persuasion, one of the six tools of influence is commitment, consistency.
00:21:26:21 - 00:21:44:08
Unknown
So why do people follow through on should they say they're going to do when they say it publicly? Because they there's a commitment, a consistency, part of their brain. It's like I told the world I have to follow through. So all the people that are fear based right now, they're they're pulling back on marketing. They're pulling back and saying, I'm going to do this and I'm going to do that.
00:21:44:08 - 00:22:00:17
Unknown
I'm going to make this happen. Because they don't they don't want to be judged. If it doesn't happen and I don't want to feel inconsistent. They don't believe they can do it. So they have a feeling of inconsistency. So they won't make that commitment. So I think what you just said, getting getting loud or noisy, that doesn't mean volume.
00:22:00:22 - 00:22:21:09
Unknown
What he's saying is quantity. Put out more content, put out, put out more videos, but get more visible now when everyone else is crying in their pillow, not attending their networking events, not attending, you know, the stuff they should be attending. You should be the most visible person. Yeah, it happened in I mean, the recent time was covered.
00:22:21:09 - 00:22:38:01
Unknown
Like look how many YouTubers and Tiktokers became famous during that time because they had nothing else to do. They doubled down on their content and I don't know anyone who really doubled down that didn't come out of that on the upside. And it's just attention. This is all touch it. It's a popularity contest. No one really cares how good of an agent you are.
00:22:38:03 - 00:22:55:23
Unknown
Like at the end of the day, it doesn't really matter because you have to be contacted first. Like, great, you're the best agent in your market. That doesn't fucking win you. The deal wins you. The deal is the most trusted agent in the market. Whether you're good or not at your job doesn't matter. It's all in the eyes of consumer who didn't think of first, who didn't think of first, they think of first.
00:22:55:23 - 00:23:12:13
Unknown
And that's what a lot of this business is. It's like said, it's a popularity contest. Let's talk about I want to talk a little bit about some of your stuff that you're doing with the solar industry, because I like it. I like it a lot. I think it's a I think it's the future not just in solar, but I think all ancillary services.
00:23:12:13 - 00:23:32:21
Unknown
I think this is the pivot. Yeah. Or the shift. I think it's for the industry as a whole. And like one thing that I think every here's what I think the future is. I think every team slash brokerage is a mini brokerage, whether you're at any XP or coal banker, it doesn't matter independent, whatever. But every team will work within a solution.
00:23:32:21 - 00:23:54:21
Unknown
That team will also be an investor homebuyer. I think they'll also have a mortgage arm inside of office. I think everyone in that will be selling solar through a company like yours. I think that everyone in there is literally the Home Depot of their market. I don't I don't like any business that just has one stream of income.
00:23:54:23 - 00:24:22:19
Unknown
Like that's a business built on a house of cards. Wait and fall, isn't it? Like, look, you have to diversify. So what's your opinion on that? And what do you is that one of the reasons why you went into the solar industry here and your scene in curious to get your take. Yeah so commission compression what you shared it's going to force this and you know I see a world one day not a negative way but a positive way where there's going to be a real estate agent is becomes like a concierge to all things in the home.
00:24:22:21 - 00:24:41:02
Unknown
Yes, but newsflash, you already are you already are the most trusted advisor for all things in the home, but you're not getting paid for it. You know it doesn't. It's the cool. They ask you. Who do you got for pool guy? If somebody wants a roof, they ask you, Who do they want for the roof guy? They don't call the roofer and ask for a pool guy.
00:24:41:05 - 00:24:57:16
Unknown
And they don't call the pool guy and ask for the roofer because they don't trust those. Do they trust the agent? No one trust the pool boy. Nobody but the pool boy works for the pool guy. Right now. I want to go back to commitment and consistency. This is two references, so you got to read the book if you have it.
00:24:57:16 - 00:25:15:18
Unknown
Yeah. It's one of the best sales books of all time to read it. But let's go back to commitment consistency. If you're a homeowner, you trust your real estate agent, even if you don't like them, and even if you don't want to trust them because you paid them more money for a transaction than anyone else you've ever paid for a transaction in your life.
00:25:15:22 - 00:25:36:09
Unknown
And for you to actually verbally say, I don't trust my my real estate agent or act on that is a treason against your own brain. Your brain won't allow it because you just paid that person 510, 15, 20, $30,000, which is the most commission ever paid a human. So therefore, I must trust them. I got to be consistent with that.
00:25:36:09 - 00:26:08:00
Unknown
Let me ask them about a flaw guy. Let me ask about you. Get the idea. So you being that person, we're just talking about a world where maybe you're going to lose a few points in the House, but you're going to pick up money everywhere on everywhere else. Well, you begin to monetize on your connections and obviously inside of the rules of respites and run and, you know, rounding this out, Mike, all we did is we found the very clear conversion rates was the highest from a real estate agent.
00:26:08:02 - 00:26:28:22
Unknown
Then anybody else when getting a referral for solar. So after seeing that over and over and over again, I said, Wait a second, I'm just going to build a platform that's only for brokers and agents. I'm going to become a service provider to that world so that I can bridge the gap for them. I want to service them, bridge the gap for them, for B to B to C, let them go sell my shit.
00:26:28:24 - 00:26:50:11
Unknown
And now when we do a commission split down the middle between our sales, the solar side and the real estate is do a commission split sharp. It's coming from Chicago. Like solar to me is somewhat new. I've been out here five or six years, but it's like and I'm like solar. It's all solar, you know, what is that?
00:26:50:11 - 00:27:08:09
Unknown
And you live in the winter, you're from the Midwest. But I didn't realize I know some agents that are crushing it and they're making more money on solar than they are on their real estate business. And it just it it makes sense is because you guys got to look at it. Here's here's what we're really talking about is you have to become that one known resource.
00:27:08:11 - 00:27:24:12
Unknown
And the reason why so many agents have trouble staying in front of their networks is because you don't know what the fuck to talk to them about. You sold them a house and everyone's got commission breath and you can't be breathing on someone for 5 to 6 years. They're going to turn you off after year one. If all you're doing is just breathing your commission breath all over.
00:27:24:12 - 00:27:43:12
Unknown
You got anything else for me, bro? Talking about sales like it's disgusting. You got doesn't mean you stop talking to them, though. Having other value ads, like talking about the benefits of solar, that's content. You could create that reminds them that you're in business, and that goes for every vertical. It's not just solar. Like you have to have no idea how dead ass right you are.
00:27:43:12 - 00:28:03:02
Unknown
It's actually the lead we create. All these resources for an agent, like all your news posts, generic stuff, text, generic stuff. And if somebody is interested, they're going to contact you and you think this is just the ego. You think sending the Christmas card with you and your kids and the dog and the magic pajamas is what your client from six years ago gives a shit about.
00:28:03:04 - 00:28:20:07
Unknown
Do you get your Christmas card? Looks like everybody else. They don't care. That's all you know. But if you could give them value, add about it any charge or information that how the whole world's going electric with cars. This is why solar is important or pick a different lane. They're not. You're not educating them now that you're educating them, you're the plug.
00:28:20:09 - 00:28:39:15
Unknown
So like Christmas is coming up, right? So what I would do if I'm selling solar is I would create a case study of how much money I sold or I saved on my electrical bill this year. And then how much of that is going to go towards the Christmas gift for my kids. Like, that's a really easy way to say I sell solar and market solar without being a douchebag about it.
00:28:39:17 - 00:29:01:18
Unknown
There are so many ways we just have to keep the conversation and anything that involves saving people money right now in this inflationary environment, like my gas out here is six, it's almost seven bucks. We're like at 678 or something goes up and down depending on what comes out of the president's mouth tomorrow. San Diego's the second most expensive power in the country next to Hawaii.
00:29:01:20 - 00:29:27:05
Unknown
I get my my electrical bill last month was $444. Right. And that's because I had the AC running for like 20 minutes. So it's like, dude, it's like, it's crazy. It's crazy. But yeah, I mean, any time you could talk about budgeting, but it doesn't matter. The weather you're selling, you're getting a conversation started and marketing is not advertising, but you must always be marketing and it's hard to market when you can't provide value.
00:29:27:07 - 00:29:42:24
Unknown
So you have to really reverse engineer what you guys are really talking about when it comes to how do you stay in front of your database and whatnot? Because every single person on your Facebook feed, your Instagram followers, they'll fucking live somewhere, which means have a roof over their heads. Now, how many of them are homeowners and how many of them need solar?
00:29:42:24 - 00:30:01:22
Unknown
Boom. There you go. There's your potential lead list you're going to buy with or without you, right? It's just a matter of who's going get the commission. One part that's really important and this is why we went deep into this, this blue ocean is the real estate world believes that the financial tools that solar used to use are the same ones.
00:30:01:22 - 00:30:21:04
Unknown
They still use. So if I'm an agent, listen to this. I'm like, I hate solar because they're going to leave the house and it's going to jack up my commission. And they are correct. A few years ago, any of the new financial products, because of there's enough volume now in solar that the banks are like, oh, there's barely any credit default here.
00:30:21:06 - 00:30:41:05
Unknown
So let's go ahead and take the wheel of the the walls of this, you know, the guardrails. Let's take the guardrails off this now. It's no money down, no lead and the loan transfers. So you go solar in five years, the new buyer comes in, they fill out one piece of paper and they just take over your solar payment.
00:30:41:07 - 00:30:57:15
Unknown
And I said, The lead is a fixture filing a.k.a if you don't pay your monthly bill, they're going to come get your panels. Same thing with everything else that you're supposed to be paying for. You don't pay your car, they come get your car. So it's like a repo. Yeah, it'll be like repo. The panels. Yeah, never happens.
00:30:57:17 - 00:31:20:12
Unknown
So the bank closed in Atlanta in the plane on this one. From the real estate world, their beliefs are all on old information. And I know that I'm like, Oh shit, if I just build a world, I'm just going to go educate everyone I can. That's an agent about the new world. We can all make money together, protect the customer, and unite two industries that have been warring for a while.
00:31:20:14 - 00:31:47:09
Unknown
Yeah, very cool. But again, it's a pivot and I think your timing is right on with the conditions at the market are in there right now. But I think the the pivot is just adding services. That's the pivot, right? It's like being one lane. So whether it's solar or something else, the overall language you brought up is you can't live in this belief of I'm only going to do this and it's going to make me rich forever.
00:31:47:11 - 00:32:10:16
Unknown
It's not now any more. Yep. Yeah. I mean, if I'm you guys, I'm definitely looking at learning how to invest myself. Remember when these market shifts happen, that's when you want to be the buyer. I'm not the person assisting the buyer, so I'll take advantage of some of those couple deals that come across your desk. And sometimes that's all you need to do one or two times a year and there's ways here, you guys, is what we're getting as opportunities around.
00:32:10:18 - 00:32:27:11
Unknown
But you have to be the one that turn that ship. Not going to turn the wheel for you. And unless you're willing to change and non fear the overcoming of whatever that change is going to be because you're going to get rejected either way. If you think about it right, they don't change and things aren't going well. What's going to happen?
00:32:27:11 - 00:32:40:03
Unknown
I'm going to go broke. If I do change and things are going well, well then I have that lease. I go down with a fighting stance and chances are I'll probably make it as long as I stick with it. Right. I do believe that as long as you're not willing to give up, you will eventually succeed in anything you do in life.
00:32:40:03 - 00:33:04:01
Unknown
So take it as as you will, guys. Nick, any closing thoughts on this? You know, I think this to me, this is philosophy. It's philosophy as opposed to execute in terms of it's not a skill, it's a it's a it's a philosophical thing. If you just accept change is inevitable and you must change in order to succeed, you must pivot when things aren't going the way you want it to.
00:33:04:03 - 00:33:26:07
Unknown
Right now, all your competition is pivoting. Like, for example, I heard you talk about building a brand. Building a brand y'all build a brand was Web 2.0. That was ten years ago. 20 years ago was Web 1.0. Web 2.0. It started ten years ago. We're now in Web three point 0ai and everything you hear about a high and, you know, blockchain, it's all web three.
00:33:26:09 - 00:33:47:09
Unknown
So while you're still deciding whether or not you're going to talk in a video, everyone is eating your lunch on building a brand and they're now mastering Web 3.0. You'll be so far behind in everything to close the gap. So don't let that stress. You don't let that give you anxiety. It's about taking consistent daily, nonstop action or is the direction you should be going.
00:33:47:11 - 00:34:07:15
Unknown
And and also when you when change is necessary, be willing. Don't resist it. Be willing to accept it, receive it, and enroll with the find your tribe and roll with them in the direction you all should be rolling. Right on, dude. I appreciate your insight, folks, and we appreciate you listening to up. So the rest of marketing dude folks, if you like what you heard here today, follow us on our social channels.
00:34:07:15 - 00:34:30:11
Unknown
Make sure you leave us review on whatever podcast platform you're listening in on and make sure you check out our damn software suite, assist or make sure your brokerage gets it. If you really like what we talked about today, have an ancillary services involved in your business having a whole referral marketing system that build your brand and having it all in one cool place for you to access that your brokerage pays for, Well, you better go knock on his fucking door and tell the buy it right now.
00:34:30:17 - 00:34:50:09
Unknown
Go to sweet assist dot com that's S.W. ETX assist dot com. Thanks for listening. We'll see you guys next week please. Thanks I'll thank you for watching another episode of the Real Estate Marketing Do podcast if you need help with video or finding out what your brand is. Visit our website at WW dot Real Estate Marketing dude dot com.
00:34:50:13 - 00:35:06:02
Unknown
We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
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The GIANT Opportunity The NAR Lawsuit Just Created For The Real Estate Industry
4 nov 2023· Real Estate Marketing Dude
If you haven't heard about the massive news that is the NAR lawsuit, then you need to check it out. Today we are talking about the massive opportunity this is bringing.
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Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
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Transcript:
00:00:12:24 - 00:00:44:08
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster of Real Estate Marketing. Doing this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:00:44:10 - 00:01:13:06
Unknown
What is up? Ladies and gentlemen, welcome another episode of the Real Estate Marketing Dude podcast and holy crap, folks, have you been following this show for any period of time? I've been talking about what just happened this week. I've been talking about that for the last two years, well before the lawsuits, well before any of this stuff. The importance of building a personal brand and or a unique selling proposition to stand out.
00:01:13:08 - 00:01:33:02
Unknown
Well, the numbers, if you even tuned back to several years of episodes, the numbers with consumer dissatisfaction were evident. They were out there planning it. And this is going to be the fuel to the fire that they've been waiting for. So what we're going to be doing, though, in this show is that this is not all doom and gloom.
00:01:33:04 - 00:01:55:00
Unknown
Two nights ago, I couldn't sleep, literally could not sleep, could not sleep because I was like, oh, my God, should I start a brokerage because of this? The opportunity here is also very, very large. So this is not going to be a doom and gloom show. It might be for some of you guys, at least if you're not willing to change, because one thing for sure is that this market will change.
00:01:55:02 - 00:02:12:11
Unknown
There's no doubt about it. The way you're going to be compensated is changing. I mean, it's going to happen. And if you go on social media right now, you're seeing two different sort of trains of thoughts. The other a lot of people are like, well, you're going to have to list to win list live to list or last list or whatever they're calling it.
00:02:12:16 - 00:02:37:02
Unknown
Great. Still doesn't the fact that you're going to lose 50% of your commission in the buyer side of the commission. Right. Whether you list or not, you still have income that is generated from buyer commission revenue. And it's not just about that. What is more concerning more than anything is that honestly, you have to look into the remarks like, go, go ahead and hit the NBC News article and go scroll through the comments.
00:02:37:08 - 00:02:58:17
Unknown
And that's where the true answer is, folks, because I spent at least, gosh, maybe 30, 45 minutes just reading through the comments of the news articles that are coming out, bashing the industry, saying how real estate agents held them hostage, essentially, which is bullshit. But, you know, the news and the media's going to spin in whatever way they do, like they always do.
00:02:58:17 - 00:03:18:04
Unknown
It's always say they're fake news. But the comments are evident. Guys. People don't like real estate agents. And, you know, I didn't we didn't need this lawsuit to come out and tell us that we saw this in the in the Atkins customer or client satisfaction surveys that have been done over the last four or five years. So the writing's been on the wall.
00:03:18:06 - 00:03:54:17
Unknown
Now, why is that not all doom and gloom? And let's start with actually both. Let's do the pros and cons. Maybe that's what we call the show pros and cons of the doom and gloom of the in our settlement, because there's a lot more pros I see so far in cons. And I'm not just saying that to hype you up paradigm shift like this is when people make money, This is when people take market share, this is when people gain ground and this is when people stand out, stick out, and nobody makes it big in when everything just go in the same way.
00:03:54:17 - 00:04:16:07
Unknown
It go in the same way, go in the same way, go to somebody, go to the same way. And this has already happened a few times before where there are sudden shifts and different people just blew up overnight. It seems like the last time we did this was 2020. In the COVID era. How many people became tik-tok celebrities in such huge social media followings just because of was stuck to their phones for three years.
00:04:16:09 - 00:04:38:05
Unknown
So there isn't a lot of doom and gloom, but the doom is is at commission compressions real. Like the days of getting 5 to 6%, they're gone. Telling you right now they're absolutely gone. Some people are going to hate that. I say that. And I understand you're comfortable doing business the way you were, but this is not going away.
00:04:38:07 - 00:04:55:22
Unknown
There's many lawsuits I can't even imagine the amount of injury attorneys are just sell the testing, because what this lawsuit does is it could open up why can it open up lawsuits for all the other people? You know, you just need a client or consumer to say, hey, I thought I didn't get I wasn't given an option. Right.
00:04:55:24 - 00:05:24:19
Unknown
Option. That's going be key to later on in today's show. So pay attention to that option, That word, that's the name of the game here. But let's go back into some of the doom. So like you're going to have to assume that your commissions getting cut. If you look through the comments on the NBC articles, the biggest one they're saying is like, why should an agent get paid for the same amount of work that they would do on a $100,000 house to sell that house, the same amount of work they're going to do on a $2 million house to sell that house?
00:05:24:21 - 00:05:46:02
Unknown
And why should they get paid 40 grand versus four grand? And that's the complaint. This has never been adjusted. And if you put yourself in the consumer's shoes, not in your own get out of your own skin, put yourself in the consumer shoes. You can see the positioning of this and you can see their point. If not, you're being ignorant.
00:05:46:02 - 00:06:00:05
Unknown
You could see they have a point and right off the bat, like what's going to happen in the next 3 to 6 months, even before like, I don't even know how this thing settles. But what's going to happen is that you're going start having the conversation and be like, Hey, I don't want to pay that commission. I just saw somebody's article.
00:06:00:06 - 00:06:16:19
Unknown
You're going to know how you're going to have to be careful in how you answer that. Make sure you're protected in the paperwork. But I'm not going to give you a legal argument today. I'm sure your broker is doing a good job of that. Make sure they are, though, or find somebody who is because the commission compression thing is going to be real guys.
00:06:16:21 - 00:06:37:16
Unknown
It's just going to happen. How low is it going to go? I don't know. But I don't think you're going to ever double end the deal ever again in the rest of your life. That's one safe bet. And if you do, it's it's like it's a unicorn, but don't count on it. But if there's no buyer agency fee, the question really becomes is how our buyer agent's going to be paid or are they going to be paid at all, or are they just going to be totally cut out?
00:06:37:18 - 00:06:57:14
Unknown
Well, we know that consumers are probably not going to pay this out of pocket. That's my hunch. We can't prove that. So we haven't seen it yet. But I just it's going to be interesting to see what's going to happen. So the one thing I do know and I could promise you, just going to happen to rewind the show and if you don't believe me, go back to the last four years episodes, go look, go look at multiple listing options.
00:06:57:14 - 00:07:20:22
Unknown
Go look at unique selling proposition episodes. Go look at personal branding episodes. These are the things we're talking about. The reason are we talking about that stuff then was because of what happens right now, because your broker can't save you here. You're still an independent contractor, which means it's up to you to decide how you're going to do business and what's diligent.
00:07:20:24 - 00:07:43:02
Unknown
You can't buy buyer leads anymore, like there's no value to them Once this goes down, there's no value to that. What does that mean? Quite a lot means you're going to be in charge of your own damn business, just like any other business owner if things are going to change for a while. But the number one thing that's not going to change is the relationship you have with your clients, the relationships you have in life.
00:07:43:04 - 00:08:07:19
Unknown
Because all of those people, regardless of how you chop up the last ten years, nothing matters anymore based on this ruling. This is big deal, guys. But the last the buyer, you your commission is going to get cut. I lost my train of thought. I'm getting all pumped up and excited here. So let's get out of the doom, though, Johnny.
00:08:07:19 - 00:08:23:13
Unknown
Like, I don't want to be I don't want to be a Karen here and talking about this and just boring people to death. I'm like, Oh my God, I don't want you guys to go, go, quit. Or, Well, a lot of you are going to quit. That's part of the opportunity. So actually I'll start that point. Here's a reality scenario, guys.
00:08:23:16 - 00:08:41:04
Unknown
We're out in a shitty market like you that sales are bad. Now you have this issue going to loom over. You're going to have a lot of real estate agents leaving the market, probably a larger amount than we've ever seen before. And now what we don't know is how long that's going to take. Now, why is this going to be a pro or an opportunity?
00:08:41:04 - 00:09:02:04
Unknown
Well, obvious people still move, right? There's probably going be less. People who would use a real estate agent is my guess. That's why this is happening on the purchase side. However, on the sales side, I think that that's always going to be something they are. So I'm going to talk about a pro of that as well. However, this is a pro because people still buy and sell.
00:09:02:04 - 00:09:25:19
Unknown
So even if even if a lot of the market's up using real estate agents, there's only so many real estate agents leaving the industry that they're still going to be a lot of opportunity for those who can withstand this storm. Okay. So there's going to be a tremendous number of opportunities in this market. The negative part of that is those opportunities are each going to come at lesser than what you probably have been accustomed to your entire career.
00:09:25:19 - 00:09:44:00
Unknown
I don't think there's too many people who are still I've been in I've been doing this for 21 years. But no, I think there's people that have been doing this for 30 years. I haven't ever seen a shift like this or something like this big of a deal. So that's the pro. Now let's talk about marketing opportunities based upon this.
00:09:44:00 - 00:10:08:15
Unknown
Like if you're a listing agent, you're not a listing agent, you're marketing company for houses. Like your job isn't to sell real estate, your job is to market real estate, you know, differently than how an advertising company would come on into a product or pitch like, let's just say I got hired by Coca-Cola, and Coca-Cola is like, Hey, I want you to do our fall marketing campaign.
00:10:08:19 - 00:10:42:24
Unknown
Well, I would have to develop a marketing campaign specifically for the product that Coca-Cola is trying to pitch. Well, in your case, every single house is a new marketing campaign. And you know what's going to be in demand are going to be people who can create high end videos, literally have marketing steps, not just, hey, let's listed in the MLS, let's put a sign in the yard, hosted a cup, an open house is where I could pick up some buyer leads to make you feel better while I'm totally hung over from the night before and see what happens now.
00:10:42:24 - 00:11:03:09
Unknown
Those days are gone. You're have to earn your shit. That's the opportunity I You are going to have to sharpen your marketing skills. Traditionally, real estate agents, many of them are some of the worst marketers in the world. But there's a good a handful that are always the best marketers, and it's the best marketers who sell the most amount of houses.
00:11:03:09 - 00:11:25:03
Unknown
They're not necessarily the sharpest tools in the shed, but they're damn good at marketing and making sure everybody knows who they are. So the way that you position yourself, your personal brand has never mattered more. What is your personal brand? It's how people know you. This means that you have to start creating content if you have it yet.
00:11:25:05 - 00:11:42:00
Unknown
If you're not going to be on social media, your business is dead. You know, a lot of you, a lot of your old whippersnappers are going to get pissed that I say that. But, you know, in all honesty, if you're talking me on social media in the future, you're fucking out of business. These are is this is the reality.
00:11:42:00 - 00:12:16:06
Unknown
This isn't a let me make you feel good show. This is like, dude, get off your ass If you don't change, your shit is fucked show. Okay, so what we're really getting at here is look at all these different opportunities like changes. That's the opportunity, guys. Now with the marketing, same thing you're going to have a lot of people are going to be very scared to spend money right now, those who are willing to spend money on brand marketing, video content creation, you're going to come out of this on the other end and you're going to be fucking killing it because the same thing is going to happen.
00:12:16:06 - 00:12:37:00
Unknown
People are scared. Oh my God, I could tell you this, you guys. I own a video marketing company. I no longer have that video marketing company because about 13 to 14 months ago I noticed the shift in the marketplace. And I was right. Real estate agents in the industry pulled back their marketing budgets when they should instead be doubling down.
00:12:37:02 - 00:12:58:12
Unknown
It happens all the time. That's why we merge and get out of real estate video marketing. So this stuff is is right there, but you're the one who creates the content. This is going back and nothing changed from before, but the most popular agent is going to be the most in-demand agent because the more content you create, the bigger your brand grows.
00:12:58:14 - 00:13:18:09
Unknown
And the reason why your brand is so important is the same reason why Josh Altman has a reality show. He doesn't have to ask somebody for a his his when he goes on a listening presentation. He doesn't have people ask him for his pitch or ask him for his listing presentation. His brand has grown so large. Your media and content creation that people just assume he's the right job.
00:13:18:14 - 00:13:44:15
Unknown
The same way that if I was going to go out and tell you I'm a chef, I could shoot five fucking videos, put them in front of you, make you watch them, and you would think I am, but I'm not. That's the power positioning and branding. When you're doing things with things like video and content creation, social media and multipurpose scene and distribute your content much like a media company, because that's what you're going to have to do and a lot of people aren't going to do it, and that's going to lead a lot of people out.
00:13:44:17 - 00:14:16:16
Unknown
The attention that is on your brand is going to be the most important thing in the world. Opportunity. I think I'm a number four niche down immediately, niche down, immediately. Dial in that brand. If you're a give back it, let the world know about it. We had so many agents we branded with such cool wise in their life from rescuing dogs per closing to giving 10% of their commissions back to charity of their choice.
00:14:16:18 - 00:14:37:13
Unknown
But those are brands. And don't hold back. You're not a salesperson anymore. You're a human being That helps people transition and everything. Home services and whatever it is you stand for, it's time to niche down and let the world know about it. Don't be politically correct, be politic, be personally right in your own way. You know, I mean that that's there's none of that.
00:14:37:13 - 00:15:02:07
Unknown
You have to be yourself unapologetically. And the way you do that is you scream it from the rooftops and not give a fuck what anybody says because that's what's going to take their own attention. Okay, niche down. Number five, Interest rates are still high. One should focus directly on distressed sales over the next 12 to 18 months. It's going to be where the transactions are.
00:15:02:09 - 00:15:37:02
Unknown
Okay, The transactions are going to be people who need to move. Already seen this. This should be evident for you guys. Your focus on people in their elderly years who are either incapacitated, death, enter a probate, divorce, relocation, marriage, life events, guys, is where you're going to want to focus your time and energy. Some of you if you're if form the strategic relationships with all of these different service providers in your market, you have to own all of these different services.
00:15:37:02 - 00:15:59:06
Unknown
You need to position yourself as the Amazon of real estate, everything, not just the fact that you help people sell houses. You have to be the guy in gal that has the probate attorney, that has the divorce attorney that has Johnny. No, no, you are the Rolodex for the community. You need to position yourself as a master connector and a master communicator.
00:15:59:08 - 00:16:23:10
Unknown
And what you'll find is that you'll make a bunch of these different relationships. Some of them are going to be very fruitful, like the probate attorney, one relationship with a divorce or a probate attorney, an estate planning attorney, one relationship ship can change the next 12 months. Imagine if you have two or three. Why? Because they have clients that will always move in regardless of the interest rate or regardless of the recession.
00:16:23:15 - 00:16:58:13
Unknown
And if you can find a way to form a relationship with them that refers you business, well, that's a great position to be in. Very, very good position to be in. Number six, probably should be number one. You got to market your database and you have to build one. If you don't build a database of referring and repeat clients into the future, you will always I mean, it's going to you're going to be just a rat race the rest of your life.
00:16:58:13 - 00:17:23:16
Unknown
It's going to always be peaks and valleys. You have to build a database. A database is nothing more than a list of people, a contact of relationships. It is a real estate agent. It's the people that you're friends with on Facebook. It's the email list that you've collected from made up of people from anywhere, from the people who say hello to your kids, soccer games, to your friends, your aunt, your uncle's, to your past clients.
00:17:23:18 - 00:17:57:10
Unknown
It's nurturing that email list. It's farming people via direct mail. You know, I'm talking about creating media on an offline social media and in print and doing that consistent because it's that network, that database that is always going to be responsible for your business. Before the lawsuit. After the lawsuit and the better relationship you have with it and the more trust you have with them, the less all the rest of this shit matters.
00:17:57:12 - 00:18:15:23
Unknown
So don't overthink that piece, but don't not do it. Because if you don't have a database and if you don't have a system that you're marketing your database with, I want you to go a referral suite, a dot com, that's a referral suite as w e t like sweet candy dot com. I got to get myself a little shameless plug.
00:18:15:23 - 00:18:33:16
Unknown
Why not? You know, I've been on this show for nine years. Ten years? Ten years. Been doing this for ten years. But let me talk about the final one and some I'm really excited to talk about. And this is something that you're going to have to have to do. You're going to have to earn income through ancillary services or other ways.
00:18:33:18 - 00:18:59:02
Unknown
And I want to give you several different ways, and you need to start thinking outside the box. Do not rely on commissions as the only source of income. It's part of your income going forward. And it might be the most dominant part for a while, but you're going to have to diversify where you make money. The first and most obvious, I believe, is if you're going to stay in real estate is that you've got to be an investor yourself.
00:18:59:04 - 00:19:22:12
Unknown
You know, get in learning that stuff, take courses, take training. If you're if you're in any of our if you're in referrals, readers, witnesses, there's plenty, of course, recommendations in there that we share with you guys about what training to take. It's super, super important because you're going to come across good deals and why give them to an investor if you can take them down?
00:19:22:14 - 00:19:44:20
Unknown
Right. Some of the most profitable models I'm seeing right now are like the rehab or that accidentally started a brokerage. You didn't start a brokerage and then became a rehab or he became a rehab and then realized all the ways he can monetize the brokerage around it through the additional leads and everything else around the transaction. So think outside the box number to ancillary services.
00:19:44:22 - 00:20:04:12
Unknown
So, for example, I think everyone is going to be a solar vendor. Solar is are very lucrative business. It's something that a real estate agent should have in their arsenal to sell anyways. So make sure you're at the right trusted vendor and you can make good money doing it. It's just the way the industry is headed. Like every agent should be able to sell solar.
00:20:04:14 - 00:20:35:02
Unknown
In addition to selling real estate right now, every agent should also start thinking about getting their mortgage loan. I'm a lawyer in mortgage loan origination license, and the reason for that is that there are several programs by several different banks out there that exist right now that you can now legally get paid for referring a lender. The client that you're working with on the buy side, I think it's like a half a point, 50 basis point, something like that, which is great.
00:20:35:04 - 00:21:03:03
Unknown
You know, if your commission is going to get cut a point and a half over here, well then you might as well at a point over there. Right. There's a tremendous other amount of services and vendor services that you can also refer and or recommend during the transaction like movers, handymen, estate sales, things of that nature staging that you're going to start approaching differently.
00:21:03:03 - 00:21:27:14
Unknown
It's not it's going to be the mindset is got to be more like, okay well if I send this person business, how much are they going to pay me? And you got to present yourself as a broker because that's just what the everyday affiliate world is. So that's what I mean by building a master connector and a network of all these different services, because you're going to see a lot more opportunities to monetize around the transaction in ongoing than just in it.
00:21:27:16 - 00:21:49:03
Unknown
Like if you can find a way to profit off of home services, not just when the client needing to buy or sell a house, but to service them after they bought or sold the house and to stay in touch with them and use that as one of your ways to stay in touch with them and become the Home Depot essentially of your database.
00:21:49:05 - 00:22:09:22
Unknown
That's the future of this business, folks. So I promise you that's where this is going. So I want you someone's to go out here and create a 1% brokerage and they're going to crush it. And it was already a bunch of you out there. But prepare to have many more. And that's going to be very high in demand.
00:22:09:24 - 00:22:33:06
Unknown
There's a big that's $1,000,000 piece of advice right there, guys. Create the 1% business model already have it mapped out. It's pretty damn good. I just don't have the time to do it, nor do I want to. But if you do, you're going to make you're going to be rich. All right, folks. So let's recap on this. Where there is doom and gloom.
00:22:33:06 - 00:22:54:03
Unknown
There is lots of opportunity. And right now there is lots of opportunity. But what your it's going to require is is going to require you to change, start changing the the reluctance. See in those comments are like, oh, we could just do this. Oh, you know, it's going to change and you got to change with it. Start taking proactive steps right now, leadership wise, surround yourself with the people who are changing with this.
00:22:54:05 - 00:23:14:18
Unknown
Get involved and see what's going on in see what? RC And see what all the webinars your broker saying and make some adjustments. I'll be releasing a lot of content specifically to this. I'm going to actually dedicate the next six months probably to this cause because I believe the product that we just launched is exactly what is needed for this time.
00:23:14:18 - 00:23:39:12
Unknown
And hey, sometimes you're in the right place at the right time in their product suite, assist and referral suite Ecom. You can check both of those out folks, if you will. And I really appreciate you. Listen to another episode of the Estate Marketing podcast. I appreciate you guys hanging in there. Changes opportunity and don't be scared. Double down Faith in yourself and left it over.
00:23:39:12 - 00:24:05:17
Unknown
Right. See you guys next week. Thank you for watching Another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is, visit our web site at WW W dot Real estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training, and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:24:05:22 - 00:24:08:16
Unknown
Thanks for watching another episode of the podcast. We'll see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
How to Create Cool Videos (ft. Steve Stockman)
28 okt 2023· Real Estate Marketing Dude
If you decided to start creating content, you probably realized how hard it is. Today's guest can tell you exactly how to do it and how to make it look good.
Resource
Check Out Steve's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
00:05:40:08 - 00:06:11:10
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:06:11:12 - 00:06:33:10
Unknown
What's up? Ladies and gentlemen, welcome to the other episode of the Real Estate Marketing Dude Podcast. And most of you been listening to the show for years know us as video, and we haven't done it with video, video marketing and all that other stuff. And we haven't done many podcasts recently on video, but the title of this one is How to Shoot Videos That Don't Suck.
00:06:33:10 - 00:06:54:15
Unknown
And folks, I can tell you that in the last few years, all the videos we've created, the thousands of videos we created, there is a formula here and it doesn't matter if you're ugly, you're fat, you stutter, it doesn't matter. The biggest, I would say, reservation I get from people and they're trying to get on camera and they would hire us was be like, I'm too boring, I'm ugly.
00:06:54:15 - 00:07:14:19
Unknown
I've a face made for radio. None of that shit matters when it comes to video. You have to know two things how to main, how to maintain and retain attention, and how to take people through a story essentially and add value to them while you're doing it. So we brought on Mr. Steve Stockman, who wrote a book on how to shoot videos that don't suck.
00:07:14:19 - 00:07:37:20
Unknown
This dude's in L.A. He creates shit for people and he's very creative and he's going to break down. I don't know, let's call it the infrastructure of a successful video, if that's okay. But without further ado, let's go ahead and introduce our gas and we're going to break it down for you guys. How to create videos that people are actually going to watch and that you'll feel happy to put out there on social media, YouTube and all the above.
00:07:37:20 - 00:08:03:19
Unknown
So, Steve, how are you doing? Why don't you tell everyone a little bit about who the hell you are, where you're from, and let's get in Skype, all kinds of questions for you. I'm doing great. Thank you for thank you for having me. So I do TV shows, then a feature film, music videos, basically. I've been in Los Angeles making a living as a director and a writer and producer for quite a long time, and I like to teach about video.
00:08:03:21 - 00:08:37:19
Unknown
You know, when the big video revolutions started, it started to be like a doctor at cocktail parties. You know, you'd walk in, but instead of saying, Hey, could you look at this boil on my neck, they'd go, You know, I've got a video. Could you look at it for me and tell me how it is? And what was funny about it was that it was almost always a series of related problems that were perfectly understandable because in the olden days, I don't know if you remember the olden days, but nobody asked you to make videos in the olden days and the olden days videos were things that people who are professionals like me made and
00:08:37:19 - 00:09:03:06
Unknown
normal people never made them, and in fact were so excited to see themselves on a TV screen when they walked through the the video store at the mall that they would point and smile at it, you know, which we don't do anymore either now that everything is on video all the time. So so I wrote this book and how to Shoot video that Doesn't Suck is in nine languages and 250,000 plus copies.
00:09:03:06 - 00:09:30:18
Unknown
You can get it wherever books are. But the reason I wanted to talk to you is I just did a video course also that's designed to help people really understand how to make video that other people will want to watch. So let's break it down. Where is everyone going wrong? Well, I think the first the first most important thing to think about when you think about video is what you watch, right?
00:09:30:20 - 00:10:01:18
Unknown
Because even though none of us or many of us are not professional videographers, we understand video. We've been watching it since we were born, basically. And so we speak the language, which at least we understand it, you know. And so if you trust your instincts, that's probably one of the first rules of video, which is if you're doing a video for a house or a real estate project and you're looking at it and going, Oh, this is crap.
00:10:01:20 - 00:10:26:19
Unknown
It's crap, you know, so the director's job, oddly enough, is to stand up and go, This is the way it should be. This is the color. It should be. This is where the actor should stand. This is how I want to point the camera. And directors get paid a lot of money to do that. If you're running your own business or your own your own real estate business, you have to be willing to do that for your videos and be real honest about what you like and what you don't like.
00:10:26:22 - 00:10:48:15
Unknown
And don't put anything out there that you wouldn't choose to watch. Good point. Where do you start? I feel like a lot of, at least in businesses, when they start making videos, one of the biggest problems I see is they treat it like a sales pitch from the get go. And it's and I get it. Guys like we're taught to sell our services.
00:10:48:15 - 00:11:06:21
Unknown
And if you believe you're the best person in the job for it, you should. However, if you're constantly just selling your shit, well, people are going to tune you out eventually because you're not adding anything of value no differently. And I say this every show almost. If you talk to your wife about work on every frickin day, she's going to divorce you because you have nothing else interesting to say.
00:11:06:23 - 00:11:22:22
Unknown
Well, if all you're doing is just trying to get me to give you money, well, it's the same thing you have to have. There's a format here that has to take place for people to actually consume your content, because if they're dropping off, 80% of people drop off in the first 8 seconds. So it's even higher than that.
00:11:22:24 - 00:11:47:00
Unknown
So every bit of it adds a lot of value to it. Yeah. So a way to think about it is think of it as a transaction. You know, you are providing your video needs to provide people with an experience they actually value because we can get from our phones to a billion other videos besides your crappy video in 3 seconds.
00:11:47:02 - 00:12:16:04
Unknown
Right? So there's no reason for us to stick around unless we're getting value from the transaction of watching. So we need to be entertained. We need to be intrigued. We need to be taken for something of a journey, a trip. We need to go on a ride and we need to we need to be able to feel like we got something out of it.
00:12:16:04 - 00:12:38:23
Unknown
And the benefit of that is if we do, we're going to come back for more later. We're going to be willing to trust you. And if we don't trust you, we are never going to watch another one of your videos. And that's a really important thing that people don't don't immediately understand until they start to think about the way they watch videos, because it's pretty much the same thing.
00:12:39:00 - 00:12:57:12
Unknown
Why is it that never before in the history of mankind could a little six inch device like this make a £300 grown man break at the knees? And why do we get so damn? Oh, my God, It's a camera, guys. I always thought people. You don't have to watch it. Like, if you don't like your video, don't post it there for a while.
00:12:57:13 - 00:13:21:21
Unknown
You nervous shooting it? Yeah. In fact, you have to not post it if you don't like it because you know the answer to the rule. Yeah, it's disrespectful. I mean, think about think about your behavior. I mean, you go to Netflix not because you want them to punch you in the face or ask you for money, but because you want to sit down and watch things that make you feel something or take you on a trip or entertain you.
00:13:22:02 - 00:13:51:02
Unknown
And because they do such a good job of that, you go back to everyday and you see what's on Netflix. And I think that businesses can do the same. I think if you're if you're killing it with your and there have been examples of this throughout, you know, online history but if you're if you're killing it with videos that people enjoy, they will return and that's that's the game right.
00:13:51:04 - 00:14:11:16
Unknown
Is to make people want to come back and look at what you're doing. So I think you're right when you talk about the idea that that it doesn't really matter who you are, you need to find out what is. The way I like to put it is you have to find out what's magical about you and about your relationship with your customers and figure out a way to get that across.
00:14:11:16 - 00:14:33:10
Unknown
In a video, if that makes sense. Yep. And it doesn't mean you're selling it, guys. You know you don't have to sell it to demonstrate it. Yeah, real estate agents always go out and I've been in the business for I'm off. Hey, I've been, I've been sold. I was later piece them out. It's more of like. Like nobody's watching your content and your job isn't to tell.
00:14:33:10 - 00:14:49:15
Unknown
It's to remind. At least if you're trying to build a brand on on video, if you're just constantly telling people you're going to last for three or four months in Russia to say, But when you're just constantly understand how to remind people consistently what you do for a living, especially those of you who are in referral based businesses, well, you become unforgettable.
00:14:49:17 - 00:15:09:17
Unknown
But you have to have that storyline that they remember by and think about every single video that you watch on television. There's that one thing that you follow. Most of you don't even know what it is like. Take Joe Rogan, for example. He's got a great podcast, right? He's got a huge podcast following and people watch that show, I believe, for his authenticity, but people know what they're going to get.
00:15:09:17 - 00:15:30:08
Unknown
And Joe, he never has to sell his show. He just sort of tells you, just tell the story each and every time, right? And people come back for that. So what's your advice for people? Like how do they overcome that, that piece? Because how do you create stories is what I think is the key storytelling. How do you create stories on your business without selling your services all the time?
00:15:30:08 - 00:15:56:11
Unknown
Because when you could crack that, you'll never run out of things to say on video. This is exactly correct. I totally agree with you. So here's how you do it. First, if you have a business, you have your real estate business and you've successfully sold properties, then you have some idea, even if you haven't sat down to think about it, who your great customers are and who your last great customers are.
00:15:56:13 - 00:16:17:08
Unknown
So what you want to start with is a profile of your great customers. And great customers are the ones who get you, who come back to you because they see things in you. They say things like, I like the way you show this property, or I like the fact that you thought of me for this one and you didn't bother me with this other one.
00:16:17:10 - 00:16:49:09
Unknown
Or I like the style of house that you tend to represent or I like the owners that you work with. When I'm buying property from you, something about you is bringing people back to you. And so the first thing you need to understand is what those things are. And the way to get to it is identify your best customers, literally make a list of all your favorite customers, the ones you would walk through fire for, the ones who would walk through the fire for you, where you work with them and you feel like this is great.
00:16:49:09 - 00:17:16:15
Unknown
I could work with this person all day. Who are those people? What do you love about them and what do they love about working with you? And you will find some commonalities running through those lists. And that's step one. It's not like you don't need fancy market research. You just need to think a little bit about what makes you great, honestly, for your very best and most lucrative customers.
00:17:16:17 - 00:17:41:13
Unknown
And that will give you some clues about what your audience wants from you, because the best thing you could possibly do is attract more of those kinds of people, right? The ones who are going to love you may have fun with you, make you feel great and buy from you. So let's give you some examples. Here's a good one that if you're a we had a client a while ago and he's a dog rescuer, that's what he was.
00:17:41:13 - 00:17:56:01
Unknown
And he happened to sell real estate. Seconds So you got to figure out what you are first and then what you do second is that you sell real estate or you do loans or whatever that is. So how would this guy go out and shoot videos on a further for and not talking about real estate because you don't always want to talk about real estate either.
00:17:56:01 - 00:18:18:01
Unknown
You want to you want to remind people what you do. So what he would do instead of him going out and doing well, if he was going to do a housing tour, he would open up though, where the dog would sleep. Right. And he's he sees he's creating videos that have the best dog backyards. He's creating videos on local community dog parks, restaurants that are dog friendly and all of it is real estate and community.
00:18:18:06 - 00:18:52:17
Unknown
But his personal brand, you get a lot. You get to know whom he is, right? We had another person that would do their military. So I got a great create a show called San Diego Salute, and he would just literally go around town and remind people that he was in real estate, but he would focus on the different monumental and call it antique type tourist attractions in San Diego, which is a ton of military installations, He would focus on military owned small businesses, and he even created a buyer boot camp and a seller boot camp to determine sort of how he portrays you.
00:18:52:17 - 00:19:17:19
Unknown
In other words, he's got your back right? So there's a communication strategy here. And I think that's where a lot of people struggle with, like, well, who am I? And is it hard without identifying what the hell your own brand is to create any type of videos that people will watch? Yeah, And I think that's that goes to I think it's hard for people to admit what's great about them.
00:19:17:19 - 00:19:44:16
Unknown
Like, we're kind of a little bit conditioned to not go, Oh, well, I'm great at this and I'm great at this. And that's why I say, look at your customers and kind of let them tell you in a way or kind of pull from that list. What's great about you? I love the dogs story, but you know, you can go, wait, there's millions of things like maybe you're the person who really loves Spanish style houses and renovating them.
00:19:44:18 - 00:20:09:10
Unknown
You know, maybe you're the person who has a perfect eye for minimal renovations. That'll help a house flipper really kill it without screwing over their customers. Love. Maybe, you know, maybe your, you know, a water properties person and you love boats. And so you're going to make your your videos and your essence about that. And that's all great.
00:20:09:12 - 00:20:29:17
Unknown
And the dog thing is wonderful because it's it's about you like it's about that guy and the fact that he loves dogs. So what do you love that you can share with your customers that they in turn, you know, already for making this list that they love about you that you can put into your video in some way?
00:20:29:19 - 00:20:46:02
Unknown
Yep. Yeah, Yeah. Because, I mean, you guys have to be excited about it too. Like the creator needs to be excited about the content they're creating. Otherwise when they're creating it, it just doesn't come out well, right? Like you have to like. Like your own stuff. Otherwise people will look at it and know that you look constipated for a reason.
00:20:46:02 - 00:21:10:01
Unknown
You're not very excited about it. And that's equally as important. You guys, when we're breaking down a video and people get so held up on scripts, right? What's the script? What's the script say? I need to see the script. I've never seen anyone script a video, reading a script and it turn out well as much as using a script as like a guideline, right?
00:21:10:01 - 00:21:29:11
Unknown
Because they always revert to reading. It is very hard to be authentic when you're reading something, right? So what do you what's your view on scripts? How does someone approach like, great, you have good video idea. Walk me through like how do you script something like that? Because that's where a lot of people get stuck. They worry so much about what they're going to say versus how they're going to say it.
00:21:29:13 - 00:21:47:02
Unknown
Well, some people are very good at it, and so those people should go ahead and do it right. But I think part of what you're saying and and a point I want to kind of tack on here is that you don't need to do something in a video and you shouldn't do something in a video that you're bad at.
00:21:47:04 - 00:22:15:13
Unknown
So if you are not a script reader, then you might want to instead bring a shot list with you to the house that you're going to shoot and just work off that shot list and sort of, you know, point the camera, get a really great shot of the kitchen, talk for a couple of minutes and do a couple of takes just off the top of your head about what's great about that kitchen or the thing that you want to bring to people's attention.
00:22:15:15 - 00:22:43:05
Unknown
And then in add it, just pick the best piece that works and use the part of your voiceover that works without having to script it and make yourself feel awkward. Or you also don't want to be on camera if you're awkward on camera. But what could happen? Like if you're awkward talking to the camera, then there's no reason that you can't have your assistant shoot you talking to the clients and use pieces of that, right?
00:22:43:05 - 00:23:04:21
Unknown
Then you don't have to talk to the camera. We can just take pieces of what you said to the clients and and paste that and edit it into your house video, for example. So I think it's important. Your big point is really important, which is don't do something on video that makes you feel awkward and miserable because that will show every time.
00:23:04:23 - 00:23:30:04
Unknown
Yep. Absolutely. What do you. Let's just put ourselves in a I'm a realtor. I know I need to create videos. What do I do next? So if you've got this this kind of audience profile about what makes them magical, what makes you magical to your audience, rather, what you want to think about is how you want to express it.
00:23:30:06 - 00:23:47:14
Unknown
And the guy with the dogs is a great example. He just pulls that out and puts it in there. And even if you don't have a dog, if he does it in an amusing way or an emotional way or a way that shows you cute dogs that you can appreciate, even though you don't have one of your own, that's a hook he's going to write.
00:23:47:16 - 00:24:09:08
Unknown
You're going to remember him. It's authentic to him. He looks good doing it. He's clearly interested in it. And everybody can like that. Right. So what is it that's magical about you that you can put out there? If you have a great sense of humor, you should be narrating your videos and putting that great sense of humor in the videos.
00:24:09:10 - 00:24:43:00
Unknown
If you do have a really great eye for detail and you want to talk about, you know, the detail in a house from the 1860s on the East Coast somewhere, you should be getting that knowledge out there and you should put that kind of narration or discussion in your videos, not 30 minutes of it. But if it's a really important thing for you and your personality and it's something that your clients love about you, real estate videos do not need to be boring floats through the house with a drone shot.
00:24:43:02 - 00:25:04:18
Unknown
They can be narrated, they can have the personality of the realtor attached to them, whether it's narration or on camera. And they should be fun and entertaining for the audience in some way. One of the best listing videos I saw, I think it was last year, it was a year around Christmas time and it just a and there is no words in it, but they put an elf on the shelf in every room.
00:25:04:20 - 00:25:19:05
Unknown
But fight. And it was just one little thing, but it was a human sized dolphin shelter. I'm pretty sure that off on the shelf was the realtor, but he was like positioning himself, like in in every room shot they had, you know, the elf is always like doing some fun. So he would be frozen in and he was stuck in that position in that room.
00:25:19:05 - 00:25:45:12
Unknown
But that was what made it extremely eye catching. I remember when I saw the house in Chicago, a friend of mine, a good friend of mine, he's a huge Metallica collector. Like a memorabilia collector, dude has over $300,000 of Metallica album signatures, all the band mates, you name it, he's got the most rare Metallica artifact. So I remember when I started that video, it was like, This is the world's best man cave you're ever going to see.
00:25:45:12 - 00:26:00:07
Unknown
And I was at his drum set because he didn't do too much, and that was done on purpose. I did that very well just because I drew them in. I picked the most interesting part of the house. So the the hook, though, is where are you guys going to focus on the most? What do you think the most important part of the video is?
00:26:00:07 - 00:26:46:04
Unknown
Would you agree that that first 8 seconds, 10 seconds, 5 seconds starts the. I do it. I do and I don't. So I think that we we we want to be careful about focusing too much on the CEO and hooky ness of it all and more focused on the quality of the overall thing. So what I think in there in the real estate industry, one of the things that's true is if you were actively shopping for, say, a house and your realtor says you should watch this video for this house that I think will be right for you, you're going to give it more than 8 seconds unless it's a complete waste of your time.
00:26:46:10 - 00:27:06:18
Unknown
Right. Because you've been told by your realtor that you should watch it. Now, the so the question is, what's the whole video look like? And so I think that I think that you don't want to do something in the first 8 seconds that stupid and you certainly want to do something in the first 8 seconds that intrigues people.
00:27:06:20 - 00:27:35:05
Unknown
But I think that to focus too much on that kind of you know, jam at the beginning is less genuine and more gimmicky than we need to be, right? What we really need to do is get the value proposition for them, the entertainment transaction proposition upfront. What am I going to give you should be clear in that first 8 seconds.
00:27:35:07 - 00:28:01:00
Unknown
So even if the realtor says you'll see a beautiful picture of the house and you hear the realtor going, Hey, this is 1157 Colvin Avenue, it's perfect if you love 1850s renovations that are authentic as hell, right? So that's not flashy, but it gives you that benefit in the first 8 seconds and you're now going, Oh, I do like those kinds of houses.
00:28:01:00 - 00:28:24:06
Unknown
I should watch the rest of this. Right? And then then the consistency of your production throughout will make that person, hopefully when they're done with that video, look at your website to see what else there is on your website that's for sale. And then call their realtor and go, Hey, I saw this other one on this guy's website, you know, so I think it's all about overall quality.
00:28:24:08 - 00:28:43:05
Unknown
Even call the realtor and like, Hey, why aren't you? This is when it really works. Well, say, Hey, this other realtor is doing all these videos on all of his listings. Why aren't you doing that for mine? Now you're like, Oh shit, that happens all the time in terms of maintaining attention throughout the video. Like what other tips?
00:28:43:05 - 00:29:00:19
Unknown
How do you get people to watch? Towards the end of the video? You get you get them interested upfront. You got someone to tell the promises, What are you going to what do you watch this for? Like what's in it for me? But then how do you maintain attention? I think that it depends on what the purpose of the video is.
00:29:00:19 - 00:29:23:20
Unknown
So are we talking like like walk through type videos or videos more about your firm overall? Because I think what most realtors and most lenders, they're going to create like more of an ongoing series. They're not necessarily like their sales videos that they're running ads to, but they're ongoing video marketing strategy that sort of keeps them at the forefront.
00:29:23:22 - 00:29:43:08
Unknown
So they're creating a show called a YouTube channel, and they're creating consistently each and every month, some short form, some long form. And that's top question I get is like, Hey, dude, how do I get people to watch more of these? And like on sites like YouTube, people are so worried about that because you guys want your videos to get seen and shown, well, you got to increase the watch time on those if you want that to happen on YouTube.
00:29:43:10 - 00:30:05:09
Unknown
So you have to maintain that attention. So more so like that perspective, how do you get people to watch towards the end of it? So I think step one is to make sure that your intent for your video is clear. So let's suppose that you're a real estate lender. I'm making this up, of course, because I'm not a real estate lender, but I've borrowed money for real estate, so I'm somebody who works.
00:30:05:11 - 00:30:27:19
Unknown
So you're a real estate lender and you have made your list of customers who are your favorite customers. And you know what they love about you And you're thinking about presenting yourself as the guy who's going to come up with or a woman who's going to come up with incredibly innovative financing solutions for you, even if you've only got 10% to put down.
00:30:27:21 - 00:30:56:11
Unknown
Right? And so your intent is to make people who feel like they only have 10% down, who feel like they can do some very good deals. Right. And with your guidance, perhaps, perhaps that's your intent by having that clear intent and setting it out like that. Now, when you think about your video, you can judge everything against how well are we doing on that score?
00:30:56:13 - 00:31:23:20
Unknown
And you know that your video is done when you've done it. So when you've done a video that that says to people, Hey, you only got 10% down, I can make a deal with you, that's going to make you look to the seller like you had 90% cash. Right? And so that means that as you design the video, you're thinking about, okay, here's my point to them.
00:31:23:22 - 00:31:48:12
Unknown
My point is that I can make your 10% down transaction work phenomenally well. Right. My point is that I'm an innovative thinker. So now you can say, I know what my intent is and I know who my audience is. If these 10% down, people who love me and I know that my point to them is I'm going to make this really innovative and magical for you so you can close your deal.
00:31:48:14 - 00:32:09:02
Unknown
Now you get to the good part, which is creating a way to do that, and there's an infinite number of ways to do that, but there's also an infinite number of ways to screw that up. And by having this intent, lay it out and know what your video is going to be about. You can avoid all the ones that are going to screw it up, right?
00:32:09:08 - 00:32:36:12
Unknown
So you can like video out as as interviews or with past clients or you're going to stage a meeting with a buyer where you're sitting next to the buyer and talking to the seller and you'll stage that and make a skit out of it, or you're going to report on some great news that you just read about this and make it really easy for clients to understand.
00:32:36:14 - 00:32:57:03
Unknown
And any approach that you take, you know what your goal is. You know who you're talking to, and that way you'll know when you're done. And so people will always watch till the end. If you stop at the point that you're finished and where you've delivered something of great value to them. And does that make sense? Yeah, Yeah.
00:32:57:05 - 00:33:26:01
Unknown
You got to call out just to rewind, guys. We're saying who, what? What is this about in the beginning? Who is it for? What do you get out of watching it? Small intro and then deliver on your points. But if you notice, he did something important there. He had a little teaser and he said it very nonchalantly and he said, I don't know if you could rewind what you just said there, because he said in the video, like, but then there's other things that you shouldn't do as well.
00:33:26:01 - 00:33:39:07
Unknown
We'll get to that in a little bit. But first, you know, like that little that little things like what do you mean what? I shouldn't do that that sort of is like a pattern interrupt in a sense where you got to be like, Oh, okay, so maybe I do need to stick up to the end of this as well.
00:33:39:09 - 00:33:59:05
Unknown
So like, let's, let's see if it's all right, so let's go. Here's a good way to do it. Let's just take that man cave example. Tell me if this is what you're saying here. So I'm about to show you the how I'm going to show you a $300,000. I actually probably won't say it on a video cause I don't want to rob his house, but I'm going to show you the world's best Metallica man cave.
00:33:59:07 - 00:34:17:10
Unknown
But just in a minute, the first place I'm going to stop here is going to be in the kitchen and blah, blah, blah, blah, blah. So I said a little bit of a teaser to keep them going. Is that your scene? I think that's a big part of it. I think. I think that everything you're doing wants to lead to the next thing, if that makes sense.
00:34:17:10 - 00:34:54:01
Unknown
So I think you mentioned upfront story, right? So story structure is beginning, middle and end, and it's just that simple. So if you're laying out your video about the man cave at the beginning, you might start with, you know, say, a real estate beginning. If you're showing the house, you might start by saying, Hey, normally I would do a real estate video for you by showing you this house and walking in the front door, just like you're going to do in real life.
00:34:54:03 - 00:35:18:06
Unknown
But I got to show you something first. That's good. And then you might get down to the man cave first and interrupt that flow. That's good. And then the middle is, you know, here's how we got to that man cave. You know, here's the rest of it, which turns out to be a very civilized, great, entertainer's house that isn't weirdly man cave for you at all.
00:35:18:06 - 00:35:40:13
Unknown
It just has this special room, you know, behind a wall shelf wall, you know, and you know that your whole family will enjoy living in. And then at the end, you talk about it, you know, this is a whole package. And if you're the right person for this, you're going to need to see it. And and here's when you can do that.
00:35:40:15 - 00:36:02:21
Unknown
So you can have a little story structure for them and that keeps them intrigued and sitting through the whole thing. So if you guys are outlining these, like just literally go back to the way your teacher told you to write an essay, there's an attention got here, there's an introduction, there's body point one, two and three. Then there's an actual conclusion and there's your video script, you know, but you should take some.
00:36:02:21 - 00:36:20:13
Unknown
Don't wing it, like take some time to list it out. Like I'm going to go here first and then I'm go here first. And you got to make it make sense so that people would watch it. But it shouldn't be any more difficult than that. Now, the older the other videos I see people make, like ones you use for ads, and those are like very highly scripted.
00:36:20:13 - 00:36:39:05
Unknown
They have certain mechanisms in there to get people to take action and all of that. But we're talking about just making general content videos and every single one I've recorded, I always follow that story. Hook attention getter body outro, hook, attention getter, body outro. And it just never fails. And as long as you can write an essay, well, I mean, it's all you're doing on camera.
00:36:39:05 - 00:37:01:19
Unknown
The difference is writing versus filming, right? You're still telling a story either way. Yeah, I think it's remarkable. You know, I talk about video as a language and people say, well, editing, I don't understand editing. It's like, well, it's cut, copy and paste, like Microsoft Word, you know, and and you're exactly right that telling a story is who's the hero?
00:37:01:21 - 00:37:21:20
Unknown
What do they do at the beginning? What happens in the middle and how does it all work out at the end and telling those kinds of stories, It very much is exactly the same as Mrs. Cooper. Talk to you in fourth grade when you had to diagram sentences. You know, it's here's even a shot, you know, noun verb, an individual shot.
00:37:21:20 - 00:37:42:23
Unknown
And a movie that you watch is going to be John Wick slams a guy in the face. That's the shot. The the noun is John Wick. The verb is slams. The object is the guy who gets his face smashed. Right? That's the end of the shot. So all filmmaking and all video making is exactly like English class way back when.
00:37:43:00 - 00:38:05:19
Unknown
And the closer you can stick to that, the better off you're going to be. Yep. Telling stories, not making statements. Yeah, stories. Not selling your services. I think the magic is in trying to get your personality into what you're doing, especially if you're doing repeat business with a lot of the same people as a way of building your business.
00:38:05:21 - 00:38:27:05
Unknown
Is is to think about what makes you great and think about how you're comfortable presenting it. Because, you know, you see a lot of I've been shopping actually, and and I also sold a house recently and in the in the. Did you like your realtor did. Yes, actually that's a that's that's a rare thing. You might have had a good one.
00:38:27:06 - 00:38:45:18
Unknown
I was like a needle in a haystack. But I looked at all the videos that people were doing for realtors. And around here, they're pretty high end. Yeah. Yeah. They all look kind of the same, you know, it's all walk in the front door. Here is what you see in the front door. Here is what you see in the living room.
00:38:45:18 - 00:39:07:16
Unknown
Here's the oh, look, there's the kitchen and then there's a drone shot at the end. And and I appreciate the simplicity of that, but it looks just like the MLS listing pictures where it's exactly the same chronology or the virtual walk through, which is exactly the same chronology. So if you're going to bother to do a video, there needs to be more to it.
00:39:07:17 - 00:39:31:08
Unknown
There needs to be your realtor's analysis of why this property is great. We're finding something special about it or something that you wouldn't notice about it that no one else will notice about it and that you can add to in a narration or an on screen appearance. You know, I don't understand why realtors don't all narrate their videos of these walkthroughs.
00:39:31:08 - 00:39:52:05
Unknown
It's like it's just it's so important to be able to share your point of view about why this house or property is going to be great for the right buyer. And the more you do that, the more credibility you have with buyers and the more it's going to work for you. I mean, look at every listing and just pretend you're writing an essay on it.
00:39:52:05 - 00:40:26:22
Unknown
I mean, that's what it comes down to you guys. If you're going to write a personify the house, literally, if it was a person, now go out and tell the story about their person. Very cool. Very cool. Any final thoughts you want to add? Any tips, anything else you want to add in here? And then I think just the the the no, no B.S. rule, which is if you look at a video that you've just done and something about it isn't working, there's something technically wrong with it or some shots are too long or you're just in the middle of it, you just have to fix it.
00:40:26:24 - 00:40:55:20
Unknown
Don't put out stuff that isn't good because it hurts you to do that. You know, it's it's a first to no harm thing. Or as editors say, when in doubt, cut it out. Right. You're not going to hurt yourself by not showing someone something, but you are going to hurt yourself by showing them something lame. So pay close attention to what you're making and have fun with it and put something of yourself in it.
00:40:55:22 - 00:41:11:23
Unknown
And if you do that consistently over time, you'll get better on it and it will all start to really work for you. I agree. I agree. Why don't you tell people where they can get your book or visit your site? Learn more. The book you can get pretty much anywhere. It's called How to Shoot Video That Doesn't Suck.
00:41:12:00 - 00:41:38:01
Unknown
There's an audio version. There's an electronic version. You can get all those. And the new course I just did is 22 lessons. It's also called How to Shoot Video That Doesn't Suck. You can get it on my website. Steve Stockman dot com on so it's 22 lessons and examples and me talking to you in a way that hopefully will demonstrate how not to make a terribly boring teaching video.
00:41:38:03 - 00:41:57:04
Unknown
Love it. Thank you folks for listening to their episode of Thursday marketing to podcast. We'll see you guys next week. Same place, same time and enjoy your day board member. Right now, with the way the market is, you got to focus on create a whole lot of buzz and attention because a lot of people aren't and rally is the more attention you have, the more client you're going to have, because real estate is just a giant popularity contest.
00:41:57:06 - 00:42:20:11
Unknown
There's no better way to build your personal brand than with video, period. And of course, see us next week by Thank you for watching another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you.
00:42:20:11 - 00:42:31:12
Unknown
So if you have any additional questions, visit the site, download the training, and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching. Another episode of the podcast will see you next at.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Niche Down, Get Creative, Attract Investors Deals (feat. Nate Armstrong)
23 okt 2023· Real Estate Marketing Dude
Most people take a look at this market and they go, "oh well," and they do nothing. Those people are not succeeding or thriving in this market, they assume it's impossible. But it's not impossible, so today we are looking at another way to dominate in this market.
Resource
Check Out Nate's Website
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
REMD on YouTube
REMD on Instagram
Transcript:
00:06:08:16 - 00:06:27:00
Unknown
What's up? Ladies and gentlemen, welcome. Another episode of the Real Estate Marketing Dude podcast. Folks, if you've been following the show the last few weeks, we've been talking about things being a little bit outside the box while everyone else is singing doom and gloom. I see nothing but light and opportunity. And a lot of that reason for it is that these shifts are when people actually take ground.
00:06:27:02 - 00:06:45:22
Unknown
This is when people actually grow. They take market share. But you can't be sitting at the sidelines. You got to start by doing something differently. There's two things I've been really screaming. One is double down on brand. This is your time to steal your everyone else's attention right now. They're all quiet. They're saving their money. They're not doing ads on social media.
00:06:45:22 - 00:07:01:17
Unknown
They're just sitting there doing absolutely nothing. That's why you want to be really loud. But two is you got to take on a new, unique selling proposition. And the chat that I've seen a lot of people in all the Facebook groups doing right now is like where the transaction is, where the transaction is, where the transactions will tell you where the transactions are not going to be in the next year.
00:07:01:23 - 00:07:20:14
Unknown
It's not going to be and I would not concentrate in your regular mom and pop residential retail sales. I if I'm you, I'm concentrating on people who have to move in this marketplace and there's going to be a lot of situations with that. One of those situations I saw the other day is a real estate agent posting. I can't afford this mortgage payment this month.
00:07:20:19 - 00:07:39:15
Unknown
What am I going to do? Their real estate agent is one of many. Foreclosures are up 28% or 35% year over year. And that's going to be people who have to sell are going to have to move. Life change events, marriage, divorce, bankruptcy. That's where I'm focusing my lead generation efforts. But without a brand, none of that stuff matters.
00:07:39:15 - 00:07:59:02
Unknown
So we're going to sort of tie in branding, social media marketing, and then how to find deals and where you should be putting your hat on today. So we brought on Mr. Nate Armstrong. This dude is a fucking killer, dude. He has a couple companies. He's got a social media arm. He's a real estate investor, but primarily he's a marketer.
00:07:59:02 - 00:08:12:16
Unknown
If you check out his website, you know exactly what I'm talking about. But without further ado, let's go ahead and introduce Nate to the show. What's up, Nate? Mike, thanks for having me on, man. Pleasure. I still everyone a little bit. Who the hell are you? Where are you from? What are we can talk about today? Yeah. Yeah.
00:08:12:16 - 00:08:35:05
Unknown
So I used to be a realtor while back. Is going on ten plus years ago, and I got involved in a big development project where I referred clients and raised money and whatnot. And my wife told me not to do the development project. This is like in the the wake of the last recession. And fast forward six months in, I got a phone call from the developer that he said, I'm walking, I'm out.
00:08:35:07 - 00:08:59:18
Unknown
And I'm like, What? Like, no, like you don't just walk like we finish this thing. I'm the guarantor on your loans. And I referred half the people that that are working with you on this is like, Well, I'm out and here's the keys. And is that moment I was forced to, to start liquidating our rental properties and I ripped my wife and my, my then newborn child away from our house next to the lake to move across state lines, take over this project.
00:08:59:20 - 00:09:20:20
Unknown
And I worked on it for a year, got the thing done. But by the time that we finished it, there was just no juice left. Like I had burned all the equity and the high interest loans eaten alive, and I ended up going through bankruptcy. Now I immediately got back to work and I found someone doing something interesting with social media and I really gravitated towards it and I started modeling it and I did it over and over and over again.
00:09:20:20 - 00:09:47:22
Unknown
And and and thank God that was our first ever million dollar a year coming out of bankruptcy. And then year one out of year one. Year one. Love it. Yeah. The trustee didn't believe that I went bankrupt. She actually called me back in to re audit everything they did. Did depositions with my bookkeeper. It was crazy. But in the midst of all that, I spent some time on my hands and knees praying and just trying to figure out like what the right steps were.
00:09:47:24 - 00:10:06:12
Unknown
And fast forward it like the social media angle. Like today we live in this world where you could post what you had for dinner last night, but that's not productive. Instead, like owning your own brand, like being that niche leader in your marketplace, that's what's really going to drive results, and that's what did it for us. That's why we went 0 to 1000000 in a year.
00:10:06:14 - 00:10:21:05
Unknown
100%. You know, I was before I'd ever meet our guest guys, when they come on the show, I do that on purpose because I like to just pull everything out of them live. And I was on Nate's website and I'm like, Wow, this guy's got his message dialed in and he's got a nice video on top of it.
00:10:21:07 - 00:10:37:18
Unknown
And most like investors aren't like great marketers like you are in that sense. Like, I see usually the sites, like some guy's like, Hey bro, you got a lot. He's got his shit together, It's polished. But what I like about it is that he knows exactly who is niches. He's not scared to scream his Christian face, his faith.
00:10:37:19 - 00:10:54:04
Unknown
He basically says, Hey, we help people. I'm a Christian based business owner, and I right off the bat, I thought that was impressive because he knows who he's talking to. He knows who his tribe is. The problem so many guys have as you're trying to relate and be something that everybody and you relate with, none. Jack of all trades is the master of none.
00:10:54:06 - 00:11:17:06
Unknown
So don't be scared during this time to really dial that in. Be yourself because you will attract like people, whether you're covered with tattoos or you're like Nate and prayed many times a day or you got strong faith, it doesn't matter. You're always going to attract your tribe. Nate Question on before you really dialed in your brand because your company is called Home Invest doesn't have anything to do with faith.
00:11:17:06 - 00:11:33:06
Unknown
You didn't have to mention your faith. You don't have to mention that you're a man of God and that this is a big part of your why in your business, why did you decide to do that? Yeah. Number one, there's scripture that talks about all of us one day standing before God and giving it a testament of our life.
00:11:33:08 - 00:11:48:10
Unknown
And at that point, basically, it's going to be the question is going to come on the table. What did you do? Did you did you have my name out there? And I feel compelled that his name is supposed to be before my name, kind of like in brokerage law, like a man booker. His name's got to be bigger than your name.
00:11:48:12 - 00:12:05:19
Unknown
And so and to your point, Mike, what happened since then? I did not intend for this. This. It was not my plan. But what's happened since then? I got some heaters early on. I had some people like just trashing me and like I even had some some close personal one. One particular close personal relationship. He's like the direction you're going, man.
00:12:05:19 - 00:12:24:04
Unknown
I don't like this. This isn't going to be good for you. And we kind of had to cut ties. But what's happened probably took six months. But what happened is it just it took off. Like now I get people coming to me and they'll say, Nate, I invested in your multifamily property or Nate. I went through your social media blueprint program because of your faith.
00:12:24:06 - 00:12:43:15
Unknown
Love that, folks. That happens all the time. And you had it on Dot. It's always six months on a white six months when someone really goes all in on their brand, you do piss people off. But until you do, you know you're not on the right track because you're not supposed to resonate with everybody. You're not God, you're supposed to have people that you resonate with, and you're supposed to have people that are going to like you at all.
00:12:43:20 - 00:13:04:11
Unknown
That's just the way the world works. But and you, when you dial that in and you do it unapologetically, wow, it's very powerful. And yeah, and people will invest with you or work with you or hire you or do whatever with you just because of what you stand for, not what you do. In real estate. People hire you for how you do things, not what you do.
00:13:04:12 - 00:13:26:19
Unknown
Your license only gives you a legal right to collect money. So think about that, you guys, and think about how you make your own buying decisions and who you hire and whatnot. Yeah, I think that's that's fantastic. Now let's get into like what you actually do, though, because you've dialed in your brand. This goes this is applicable to any business, you guys, whether you're a dentist, attorney, chiropractor, I don't really care.
00:13:26:21 - 00:13:52:03
Unknown
You could do the exact same thing in this case. Nate's raising syndication. It looks like he's creating investment deals and whatnot. So tell me about your creative financing Beyond being a good man of faith, why am I going to invest with you? I like it. But how do you make me money? Greg Great question. So you can either get inside of a DeLorean and go back in time and try to snag 3% interest rates or or you can find them.
00:13:52:03 - 00:14:16:03
Unknown
Like, I was shocked to learn this, but of the market rate now, over 20% of people own their home free and clear. And then people that took mortgages that were sub 3% there's another 8% that have mortgages, sub 3% from 3% to 4%. There's another 16%. We're talking about half of the properties in America are either free and clear or they have a sub 4% mortgage on them.
00:14:16:05 - 00:14:39:04
Unknown
And so what we do to create value for investors is we find those sellers and we say, Hey, Mr. or Mrs. Seller, rather than, you know, you just cashing out right now and potentially taking a big tax hit. How about we save you a little on taxes and we stretch out the payments a little bit longer? You keep your bank mortgage payment in place and we'll come in alongside of you and we'll take over all the headaches of the property and we'll let you exit.
00:14:39:06 - 00:14:57:03
Unknown
But you won't have a big tax event. And then myself and my investors will be able to not get hit in the face with an 8% mortgage rate and then just seller financing. Folks, this is what you need to like. Let's break this down a little bit so make sure everyone understood. Unpack that a little bit, because that's the problem right now.
00:14:57:03 - 00:15:14:22
Unknown
You're going to have all kinds of people. There's a lot of people that want to sell, but where are they going to go is one aspect of it. But then there's a lot of people that aren't going to be able to sell because like in our market, I'm in Carlsbad, An 8% rate on a $2 million house is a lot of money, dude.
00:15:14:24 - 00:15:31:14
Unknown
You know, So walk me back through that. Let's dumb it down even a little bit further. So I find this if you find a seller that basically has a boatload of equity and you approached you guys cash flow, the property, you handle all property maintenance and management of it, Tell me how you strike the numbers and how does the seller cash flow again?
00:15:31:16 - 00:15:50:10
Unknown
Yes. So I'll give you a real life example. We just closed a unit building and it's got a 5% rate on it fixed for forever. Basically, I'm going to back up a little bit to to land the plan on how we got it. Okay. So this is something that most real estate investors, they just don't share. It's just not common, common knowledge.
00:15:50:10 - 00:16:06:17
Unknown
It's something that I probably invested over $250,000 worth of training and education to get. And so this is the one thing that phone call with the seller, and it's got to be with the seller direct. If there is an agent in the middle agents, I love you guys. I used to be one for a long time, but yeah, forget about it.
00:16:06:19 - 00:16:22:11
Unknown
Yeah. Unless you can really get the agent on your side, it's just harder because most agents, they're not going to think the way that maybe your listeners might think. So you got to get on the phone with the seller. I have done it with an agent, but it's usually a three way phone call. He put me in, put put us on a three way, Let's do this together.
00:16:22:13 - 00:16:37:14
Unknown
And on that call, this is everything you have to space that call out. Most of the sellers, they're just thinking, Hey, what's the number am I going to get? How are you going to get me there in in? That's a mistake to fall into that trap right in the beginning. And so what we have to understand is the situation.
00:16:37:16 - 00:16:56:18
Unknown
And so we went through we broke the call into five distinct phases. The first phase is rapport. Pretty obvious. Everybody that listens to your show, Mike knows how to do that, build some real human rapport. The second phase is understanding the situation. The situation is everything. I'm going to get out of them, how much they owe on their mortgage, what is the payment?
00:16:56:18 - 00:17:17:21
Unknown
What is the interest rate? Is that fixed? How many years into their more, I'm going to get that stuff out of them by simply asking one question. It's actually three. But it goes like this. Most people would say, Hey, how much do you own your mortgage? And that's a mistake. Instead, what you say is you say, Hey, if we do this deal together, I want to make sure that all the lines get taken care of, taxes, mortgage, etc..
00:17:17:23 - 00:17:40:00
Unknown
With that being said, how much is left in taxes? Okay, great. How about the mortgage? How much is left there? Great. Hey, can you tell me a little about that payments and then dissect what the payment is, taxes, interest, etc. By having that information in the beginning and then really understanding what their motivation is when we come around the corner to that, we got the third phase of the call, the fourth phase and the fifth phase.
00:17:40:00 - 00:17:58:18
Unknown
When we come to the fifth phase, which is actually presenting the offer, we know what offer we can make. So the reason we got this 49 unit building at 5% interest is because, number one, we found out that if the seller sold today for cash, they would have a sizable gain and they get smacked upside the head with a big tax tax liability.
00:17:58:20 - 00:18:14:20
Unknown
They didn't really want that. The second thing is that they didn't have anywhere else to go park the capital. My favorite question is when someone says, Hey, I just want to get cashed out, I say, okay, great. What are you going to do with all the money? Oh, this is what Gabriel the seller said. He said, I'm going to put in the stock market.
00:18:14:22 - 00:18:32:12
Unknown
And I said, You put this lot now. And then he kind of backpedaled. And I'm like, I'm like, Hey, Gabriel. Like, do you believe in this asset? Do you think it's a good. Yeah, I love it. I just don't want to deal with tenants anymore. I get it. Okay, cool. How about this? What if you leave the money in the property, I'll start making monthly payments to you.
00:18:32:13 - 00:18:49:17
Unknown
I'll get you some down payment now, so you know that I'm serious, but I'll start making monthly payments to you. I'll handle everything. Taxes, insurance, toilets, tenants, the whole works. You get to collect a nice check every single month. You get to avoid getting slapped by the taxman big time upfront. And we have a good five year relationship together and five years.
00:18:49:17 - 00:19:12:04
Unknown
I go to the bank and I refi you out. He's like, Could you can you tell that to my attorney? I said, Yeah, no problem. Told to his attorney. Attorney sent over paperwork. We did the deal. I like it. That's a lot to unpack. I like it. Give me the ideal scenario of the seller. Give me some like case you like, use cases like a give me a couple.
00:19:12:04 - 00:19:31:17
Unknown
Like just so they could they can relate to that. So like the ideal seller and these are more larger you deal in multifamily are you doing any individual units or is it mainly multifamily and is there a place for it for smaller properties? Oh yeah, yeah. So the last two years I've only really focused on multi, but we have a lady in my office named Kate.
00:19:31:17 - 00:19:53:16
Unknown
She buys all the single families for us and so we're, we're processing at least two or three every single month with single family typical, like there's a distress of some kind. It's either that they're a little bit tied up financially, a big one that was happening to us. Since Corbett is people have to either move or go back to an office that they they were working virtually for a while.
00:19:53:16 - 00:20:13:21
Unknown
Now they've got to go back in. So we're getting sales because of that. On the multifamily spectrum, it's usually because people are worried about what's going to happen in the economy and they want to get a little bit more liquid. And so we're talking to a lot of landlords on that. And then the second biggest one and this is new is people that took out what's called a bridge loan in the last three years.
00:20:13:23 - 00:20:36:21
Unknown
So for for anyone that doesn't know what bridge means, it means that they took out some kind of short term financing, usually to do some kind of renovation. And it was very popular in multifamily during the COVID years because they were giving away dirt cheap interest rates and they were saying, Hey, get into this. And because multifamily got so competitive, they were taking these short term adjustable rate bridge loans.
00:20:36:23 - 00:21:01:03
Unknown
And a lot of those are come and do right now. Like in fact, we've got under contract as we speak, a $12 million, 161 unit property. The only reason we have it is because the guy's loan expires in December. So, yes, he's he's putting his message. You know, this is marketing lead generation. He's finding he knows exactly who is ideal candidate is for this and he's just targeting them.
00:21:01:05 - 00:21:16:15
Unknown
Right. And when you rent the property out, you're just taking over the management of it and then you're renting it out at a 5% rate. How do you know what you have to look at the rent and what do you offer to pay them a little bit more than he's getting on a 12 month and then juice it up?
00:21:16:15 - 00:21:39:08
Unknown
How do you make money on that? Great, great question, Mike. So first my instance is I try to pay them what their costs are. So like if they're just ready to exit and they just want to move on, my my reply is, Hey, would it make sense for you if I just took over everything from here? I give you a little bit of moving money so you can pack up and go, and then I just take over everything from your taxes, insurance, the repairs that are needed.
00:21:39:10 - 00:21:57:11
Unknown
And a lot of times that's, that's enough. Sometimes, however, especially when getting to multifamily, you've got a different seller on the other end of that family service and say, well, hey, I want to get paid for my equity. And then I say, okay, cool. What does that look like for you? How much equity is that? I let them tell me their number and then if they're number, I'll put it into a spreadsheet.
00:21:57:11 - 00:22:14:14
Unknown
If I can still make a return on investment from that, then I say, Okay, if it's too big for me to like plop down as cash, then I'll say, How about this? We're going to pay the bank on their normal payment schedule. And then with your equity, I'm going to start chunking away at that every month. I'm going to pay this much.
00:22:14:16 - 00:22:28:12
Unknown
And you can see here on my spreadsheet, I'm looking at it with you. Open book. I still got a little bit, little bit of room for me and for my investors, and I'm going to pay you this every single month for the next five years. And at the end of five, I'll go to another bank and I'll refinance this thing in rate.
00:22:28:14 - 00:22:44:08
Unknown
Right now, it's actually much easier to have that combo because all I have to do is point at the banks and just say, Hey, if I got to go to the bank, I got to pay seven or 8%. That means I'm giving more to them and I have to give less to you. I'd rather give you a very good point.
00:22:44:10 - 00:23:00:19
Unknown
Creative. So folks, sharpen your damn skills. These are the conversations you're going to have and the one that can put together. That's how you really define your USP as an agent. All right, Let's let's get into like, how you're finding these deals, too. Okay, So you guys get an idea. He's dialed in. I'm taking us through a three pronged approach here.
00:23:00:22 - 00:23:15:12
Unknown
One is you got to dial in your brand. You got to be on the brand message with whom you relate with first, right? Absolutely. You have to do that first to know what the hell you're selling. Now. It's got a very creative niche. The riches are always in the niches and shifts like this. Would you agree with that 100%?
00:23:15:14 - 00:23:30:21
Unknown
Like you have to niche down guys. You got to stop being a generalist. Please don't be a general. You're going to get crushed. You need to niche down and you need to be an expert at something. But then three is you got to be a dab marketer because without deals like none of the stuff matters, right? So what are you doing on social media?
00:23:30:21 - 00:23:48:17
Unknown
Because it seems like you have like a new maybe a twist on how you're finding these properties and are you getting all of your deals from social media? I'd say three quarters come from social media and then the other a quarter are a breakup of either referrals, some agents that feed us properties now and then just a mix.
00:23:48:17 - 00:24:10:08
Unknown
But three quarters. No, no direct mail. No, no. In fact, PPC search, anything. I've done them all. I've been in the game for a while. I used to run TV ads back in the day and I dropped a direct mail around probably two years ago. I dropped 48 grand and I struck out for the first time ever. Usually it doesn't happen that way.
00:24:10:08 - 00:24:29:11
Unknown
Usually I'm pretty good at making something, but I struck out and then I'm like, I can't do this. Yeah, and money it is. And so I leaned heavily into social media because I can track instance. Like if I spend $100 on a Facebook ad, I know how many leads I got same day and with direct mail was a little bit bigger for me.
00:24:29:11 - 00:24:42:22
Unknown
And I know there's other guys that are really good at that game, but I just I wasn't my game so I stick to social where I can track it all instantaneously. Another good point is like, find out what the hell works for you. It's different for everyone. There isn't a right answer. Whatever works for you is always the right one.
00:24:42:24 - 00:25:03:13
Unknown
Art How I'm social like you're running ads. What's one of the platforms we're talking about? Facebook, i.e. Facebook, Instagram and YouTube. And I start with organic. So you mentioned Facebook groups earlier. Like I own a group for pretty much every category that I that I want to master, so to speak. So like I have one for investors for passive investments.
00:25:03:15 - 00:25:21:19
Unknown
I've got one in each of the three cities that I buy properties in. It's just a real estate group that's titled the City Name plus off market deals. If you ever see those out there, they're probably either mine or someone that I showed how to do that. What city are you in? So Milwaukee, Wisconsin. Yeah, Lexington, Kentucky. And Louisville, Kentucky.
00:25:21:21 - 00:25:41:11
Unknown
You must have someone here that has that in San Diego off market deals. But you they're like one of your students or something. It's very possible. A couple couple hundred people how to do it now. Okay. Keep going. So you get in the groups, folks, community, you have to build the damn database. The database is either the USA y, which is what you're always marketing and nurturing and staying in front of.
00:25:41:13 - 00:25:55:14
Unknown
But then you build a lead database because the conversations in these groups are where the money's are. But a lot of people don't like starting them, right? They're like, Oh, how am I going to get all these people in there and how am I going to get the group going? And like, it seems like it's a lot of work to get it going.
00:25:55:16 - 00:26:13:01
Unknown
How do you overcome that? Yeah, you think of it like a backyard barbecue. Like if you were the new kid on the block, you just moved in and you wanted to meet all the neighbors. You could either go door to door and say, Hey, I'm having a backyard barbecue, or you could put big signs up in your front yard and tell everybody you got free food on Saturday in either wood work.
00:26:13:01 - 00:26:32:03
Unknown
So the difference between those two is kind of like paid leads versus organic leads came a paid lead is kind of like putting the sign in your front yard and blasting it out there really fast. If you pay Facebook about 10 to $12 per person, you'll fill the backyard barbecue really fast like your Facebook group will fill up really fast.
00:26:32:07 - 00:26:54:21
Unknown
Like if you pay Facebook ten bucks per person, that the other way that you do it is that once you've got your group created smart and you go out and you do door knocking by door knocking, it's not physical. It's like literally on your computer, click of the mouse. You go to other people's groups, you go to other communities and you say, Hey, guys, if anyone's looking for this specific niche, my group's pretty cool.
00:26:54:21 - 00:27:18:17
Unknown
For that, join my group. Here's the group. And within a week or two, if you do that fairly consistently, I'm talking like an hour a day. Not obsessive, but you can fill a group with 100 people and then from there you serve those people. This is the part where everybody misses. You show up once a week, you do some written value add posts, or if you're if you prefer video, I prefer video.
00:27:18:19 - 00:27:38:23
Unknown
Then I just press that goal. I button and I'll share what's on my heart. I'll share some real estate tidbits. And then at the end of it, I just say, Hey, if this is something that you're looking for more help with, just comment. Help down below and then we'll connect. And I keep it super simple like that, but you got to show up every single week If you just let a group build up and you don't do anything with it, they're not going to know you.
00:27:39:00 - 00:28:00:14
Unknown
Yeah, they're going to get you. And you're you're doing once a week in terms of content creation video 3 to 5 minutes, maybe a blog, right? You got it. Yep. And since I've got multiple groups, what I found a tool called Stream Yard. And I'm sure you've got other ones that lets you simultaneously stream into multiple. Yeah. So I'm only doing one weekly broadcasts.
00:28:00:16 - 00:28:18:01
Unknown
That's it. And it gets it everywhere. I want to touch. I mean do. That's how this show started. You know, it's one podcast every Saturday for eight years in a row. And then we got 1.7 million downloads or whatever at now. And it's because we are consistent and we add value. We haven't sold you guys anything on the show yet.
00:28:18:01 - 00:28:36:17
Unknown
What are we, 26 minutes in? We'll send you a link after this. And you might want to join or buy my services or take notes. Who cares? But this is content marketing 1 to 1, guys. You got to add value to people first. Just it's a dating game, isn't it? Like the same way you date is the same way you attract business online or in social in these groups.
00:28:36:19 - 00:28:58:01
Unknown
I love how you just said, though, that you're running traffic to build the group because that's like the shortcut, right? Yeah. Yep. Yep. And then in that group, that's where you get to test your message. I would do that, like before you start getting all crazy with ads, I would test your message and see how it's resonating in and if you go live, like, just know that the first time you're going to have your mom and your cousin on and that's it.
00:28:58:03 - 00:29:23:10
Unknown
Yeah. And that's okay. You just show up, you serve, and then people will catch replays. And as people replays, it starts to build My first podcast, I think I had like two lost two listeners, you know, when they're like, Hey, woo! Yeah, but dude, you got to start somewhere. Everybody does very, very well. Why did you sustain like you have a fantastic podcast, Why didn't you quit like everybody else does after the third one?
00:29:23:12 - 00:29:40:00
Unknown
Um, you know, what I did was I think I did the whole public accountability thing, and I said, I'm going to create a show. And I missed one week like early on. And I remember someone wrote into me and they're like, pissed and they're like, like it was like early on, like probably year end or so. And I just kept going.
00:29:40:01 - 00:30:00:03
Unknown
It was going to be uphill battle. But I remember someone wrote a message or something and they said, like, Bro, you missed your show this week. I was looking forward to it. I'm like, Fuck, People are listening to me, man. Like, That's cool, right? So then I just felt obligated to go ahead and do it. Even in all you guys who've been following the show for a while, I've been very sporadic the last few months because I'm going through a brand shift myself.
00:30:00:03 - 00:30:24:14
Unknown
You know, I got a software that we're launching and I switched my video into a different business model. My friend working with real estate agents as much on the video side anymore, but I've been sporadic with it. You know, I'm breaking my own rules and it's just, you know, it's but you're absolutely right. You have to. I believe that as an agent, I was always creating content because I knew that if I wasn't, somebody else was.
00:30:24:16 - 00:30:43:12
Unknown
And as long as my face was just sort of omnipresent amongst my aunts, uncles, friends, family, past clients on social, I've always attracted referrals. I just had to stay relevant and stay present and not just the whole referral marketing thing, but when you go into like lead generation with what you're doing, it's really the same thing. You have to nurture your guys's audience.
00:30:43:14 - 00:30:57:02
Unknown
This is where content creation comes in. I don't think it's optional anymore. You have to create content because you could run ads, but today do you agree this people, you run ads. Great. Who the fuck is this guy? You're on social media like, Oh, that was pretty interesting. Let me go check out his website if that website is bare.
00:30:57:04 - 00:31:12:06
Unknown
Do you or do you not lose all? Chances are a lot of them, of converting them down the road. But if that website has a ton of organic content, a ton of engagement, you've a ton of value. Hey, take this free report. Hey, take this. Wow. All this video is like, you're like, Shit, I'm going to false. God, this guy might be on to something and that's that.
00:31:12:12 - 00:31:32:04
Unknown
Why we create multipurpose and distribute. Guys, you have to start somewhere. But even after you have people probably look on your on your show and you probably have a lot of content on YouTube maybe of deals you've done, right. Does that or does that not help convert the seller when they're thinking about giving you their keys? It does.
00:31:32:04 - 00:31:53:01
Unknown
I got $1,000,000 property on the water. And keep in mind, like I usually lean toward seller financing because I went through bankruptcy in the past. I can get loans, but it's just more challenging. And so I told some I told a realtor in Florida that I really wanted a waterfront property on the marina, described everything to T, and I said, Seller finance.
00:31:53:01 - 00:32:12:02
Unknown
And then he he laughed at me. He's like, That'll never happen. And I started doing the social marketing like, I like like we're talking about here. And I got a seller that that responded favorably. I went and met with them, but when I got there, the guy said, So we checked out your wife's video on and what you guys said on your podcast, and I'm like, Oh, which one?
00:32:12:04 - 00:32:34:20
Unknown
And they described it to a tee. We left that meeting with a signed contract seller financed waterfront property like. So even when we think that people aren't listening, they are crazy. Dead. Out of curiosity, was did was he a Christian by any chance? It was, yeah. There's the brand conversion, there's the assist coming in from the man upstairs.
00:32:34:22 - 00:32:56:03
Unknown
Alley oop. It doesn't happen on accident, guys, you know, but that assist helps like we're doing a lot of these videos now for attorneys and it's crazy because people are so scared of attorneys like you're an attorney like no one wants to talk to a fucking attorney. Let's be honest, right? No one wants Doctor. However, when you humanize them, their conversion goes through the roof.
00:32:56:05 - 00:33:12:05
Unknown
It's just a simple video because you're when you hear the word attorney, you're like, Oh, man, I'm going to get in trouble. But when you have a nice guy with his dog right there, he's going to go on. All sudden, they're not scared of the attorney anymore. And people he's approachable. So this is where your brand so books will get unpacked.
00:33:12:06 - 00:33:30:08
Unknown
Just what we have on the show, one dial in your brand. Because if you don't have your message, no one converts with you anyways. Pick who you are, what you stand for, and stick by and scream from damn rooftops to define your niche. Right? In this case, you're finding properties and you're raising funds to take down properties. And so they're financing.
00:33:30:10 - 00:33:47:05
Unknown
What are you doing as an agent? What's your niche? Are you going to go after b? K you're going to go into short sales and foreclosures. Are you going to go people who are relocating, they can't sell, What are you going to do? But three, marketing this strategy that you just outlined to me I think is applicable to anything, isn't it?
00:33:47:07 - 00:34:10:00
Unknown
Yeah. Yeah, it is. If I could add one more to this too, Mike. A lot of people, they tell me that the reason that they don't start with their content is because they feel like they need to know more or practice more or be better. And I want to point out two things. Number one, Abraham Lincoln arguably one of the most successful presidents of of of our of our country.
00:34:10:02 - 00:34:36:09
Unknown
Abraham Lincoln ran for office eight times and failed seven out of eight times. Before that. He was an entrepreneur and he had to file bankruptcy. You fail that both businesses and then the man becomes the most successful president of of his time. So that's one example. Babe Ruth. Babe Ruth, he's known as as what? The man who hit the most home runs yet that's he had 704 home runs yet people never talk about that.
00:34:36:09 - 00:34:54:23
Unknown
He struck out 1304 times. Yeah almost double. And so just know that in the beginning when you're starting this content stuff like we kind of we kind of suck in the beginning we do, but we just stick with it. It's like riding a bike. The first time I got a three year old boy, like he's riding the bike now with no training wheels.
00:34:55:00 - 00:35:12:12
Unknown
He didn't start there, though. He fell, he bumped, he bruised. And so we got to go through the same thing as adults. Sometimes it's scarier to be, like, publicly ridiculed, but we just got to go through that curve. Once you get through that curve, it's probably two or three months in, and then by six months, all of a sudden you're in momentum and then this business is just coming because of it.
00:35:12:14 - 00:35:33:24
Unknown
Yeah, I see it every day. Like we create so many videos. We're doing like about a hundred videos a month now. But yeah, everyone's the same. When they start. They're like, like scared, like just grown ass men buckling in the knees because of this little tiny device. Right. But everybody, you're right now 2 to 3 month after you get in there, it's no different.
00:35:33:24 - 00:35:51:00
Unknown
Plus, like, here's what I believe, though. Regardless of how you feel about yourself or your insecurities about getting on video, I believe that if you believe you're the right person for the job, it becomes your obligation to scream it from the rooftops. And if you have a question about video, then you shouldn't fucking be on camera in the first place because you're not the right person.
00:35:51:02 - 00:36:07:00
Unknown
You should be that confident in your services guys. And if you're not, you're not the right person. So either go hit the books, go study, get some more experience until you feel confident. But as long as you know your trade and you know this as a Christian, it becomes your obligation to serve others and to help others with what it is that you do.
00:36:07:00 - 00:36:28:14
Unknown
Whether you're a professional lemonade maker or you're a real estate agent. I don't care. Everyone has a purpose. Very good. You hear me? Closing throats. And I just. I just want closing throats. Yes, Closing throats. Thoughts? What, Mike? I just want to say thank you for leading the charge, number one, and just showing up every single week in the number two, providing the service that you do like.
00:36:28:14 - 00:36:44:16
Unknown
If it wasn't, I didn't get to work with you because I didn't know you when I first started marketing. But if it wasn't for someone like you grabbing people like me by the hand to help with that video, the help with the scripting and the help with like even background lighting, all that kind of stuff. Right now my mind isn't so good because I'm at my cabin.
00:36:44:22 - 00:37:00:11
Unknown
But you do that for people. You bring them to the spotlight and help them. So thank you for doing that, man. Appreciate you. Yes, sir. And what I tell them where they can learn more about your stuff. But you guys have clients. I have ten, 30 ones or whatnot, like turn them on to this guy, especially if they're Christian.
00:37:00:11 - 00:37:20:16
Unknown
And then tell me about your blueprint. Yeah, so it's Nate podcast dot com, Nate podcast dot com. There's a train there. It'll walk you through everything that we do and it basically gives away a deeper look at how I'm getting these deals off market and how we're structuring seller financing. And then my favorite is to mitigate taxes for both us and the seller.
00:37:20:18 - 00:37:39:13
Unknown
Love that. We had a show on cost segregation a couple weeks ago that's don't even know that's existed. It is crazy. Crazy. But folks, thank you for listening to the episode. The estate marketing dude. Folks, if you like what you heard here today, subscribe, leave us review files and social and whatnot. And most importantly, check out our software suite assist.
00:37:39:15 - 00:37:54:18
Unknown
It's a tool meant for brokerages and teams. So if you don't have it in your office, make sure you knock on your brokerage door and tell them to look it up and then make sure they buy it. Because we help you build that brand. We help you build that content and we give you a blueprint each and every month that you just have to copy, follow and customize yourself.
00:37:54:18 - 00:38:05:23
Unknown
And that is direct mail, video, email and social media so that you can be consistent and take on that omnipresent approach with much of what we're talking about today. So appreciate you. Check us out and we'll see you guys next week. This.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Feast or Famine | Adapting & Succeeding in a Down Market
14 okt 2023· Real Estate Marketing Dude
The market is coming down, you can't deny it. Eventually we will all have to figure out how to sink or swim. How can you adapt to succeed in a down market? The money isn't gone, it just isn't where you think it is.
Resource
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Transcript:
What's up? Ladies and gentlemen, welcome to our episode of the Real Estate Marketing Dude podcast. I think we just had 8% interest rates. The market is slow. What are you going to do? Hey, if you're a real estate broker or you're a team leader, it is fucking recruiting season all day, every day. Because every single time the market shifts, agents are who are spoiled about how easy business was.
00:01:40:23 - 00:02:01:20
Unknown
They weren't really looking at their brokerage for support. But when things shift like that, the number one thing all agents industry I look in is who's going to help me navigate the mess that we're in, the slowness that I'm experiencing. And if you're in the business of recruiting, this is today's episode is going to be how to feast and famine, feast or famine in a changing market.
00:02:01:20 - 00:02:17:00
Unknown
This is going to be on how you feast because it's markets like these that are honestly the easiest time to recruit. It's very difficult to recruit when everyone is doing well because what's the purpose of recruit? Hey, I'm doing well. I don't need you right When you're getting your ass kicked, you're like, Should I need some help? I need a coach.
00:02:17:00 - 00:02:36:16
Unknown
I need to switch brokerages. Maybe I'm with the wrong people. Maybe I'm with that. What my predictions are going to be, I've never I've been roasted for 20 years. I've never seen 8% interest rates before in my career. So this is new to me as well. But what I know is that people are hurting right now and people are looking at what am I going to do next?
00:02:36:16 - 00:02:56:10
Unknown
And they're scared. 90% of the real estate agents out there have never seen a shift like this. So if you're a team leader or broker owner, the chances are you've been in the business longer than most of the people you're trying to recruit early. Usually that's how it used to work. Today you have people in the business for two years and all said in their coaches and their influencers and all this other stuff, but we need to go back to the basics.
00:02:56:10 - 00:03:15:05
Unknown
This is a very healthy thing with the right mindset. So without further ado, I want to go ahead and introduce our guest. We had him on about like the Kova days, if I'm not mistaken, a couple of years ago, years ago now, three years on, his name is Mr. Jim readily jumped. Hello. Hey, man. Thank you for having me back on the program.
00:03:15:05 - 00:03:31:15
Unknown
Always a pleasure, Mike. What are we going to get into today? Let's talk about recruiting because it's recruiting season, As you mentioned, I just saw a stat that was 90% of all the agents operating today have never been in a market with 5% interest or greater. And so when you look at that, you know, you've got a lot of agents who are exiting.
00:03:31:15 - 00:04:00:02
Unknown
The latest numbers show that about 80,000 agents have already exited this business. Now we've got a double whammy hitting the market. We've got a whammy of, you know, people just not ever experiencing a down market. They've been in an upcycle for the last ten years. But now we've got something else is setting the market. There's a lot of fear around which is buyer representation back BS now under attack by the Department of Justice in two major lawsuits and major players like Remax Keller and Re Max.
00:04:00:02 - 00:04:30:07
Unknown
But anywhere Keller claims is on the list. But Remax got major MLS. Those that are settling in the settlements are saying basically we're going to make sure that sellers now have an option not to pay back agents that don't know how to deal with that are going to exit the business as well. So now you got a double whammy in the market where you've got a tremendous amount of pressure build up and as you mentioned, it's a great time to recruit because agents need guidance, they need playbooks, they need a strategy because most agents have been market driven, not strategy driven.
00:04:30:07 - 00:04:46:07
Unknown
And when the market turns, they're just upside down immediately. Yep, very well put. I didn't give people give you the proper introduction, so I want you to tell people why they should listen to you. So today, how long have you been in the business? Really quick. Now let's get into this because yeah, guys, he knows what he's doing.
00:04:46:07 - 00:05:03:17
Unknown
He coaches brokerages and teams and all over the country. So really pay attention to what's going on here, because even if you're an agent listening to this, you need to find a broker that's doing the things we're going to tell you about, period. Right. So, Jim, go ahead and give me your accolades. So I'm going to give you a really brief rundown.
00:05:03:17 - 00:05:29:06
Unknown
33 years in the business. I started it in the back in the late eighties, early nineties, when interest rate my first house about ten and a half percent interest. I thought I was so lucky to get it. So been through those upward cycles and interest rates. But at first year in the second year, the business took 150 listings, got a lot of accolades and 21 Centurion Awards of my first company at 23 agreed that to 17 offices sold that No.
00:05:29:06 - 00:05:50:07
Unknown
Six right before the crash, spoke for NPR for ten years, grew another company in southern Oregon from 38 agents to 250 agents. Now that company is in the top 500 companies in America by volume. In a small, powerful population base of 80,000, our average agent productivity is about $7 million per agent. So doing something right, that's my version.
00:05:50:13 - 00:06:08:05
Unknown
Let's let's get into this because you just mentioned something I wasn't planning on talking about. But yes, this is like the perfect storm. You have super high interest rates that nobody's used to. You have unaffordability, you have high inflation rates. You know, people are worried about their finances. 80% of people today don't believe buying a house is a good investment.
00:06:08:07 - 00:06:24:00
Unknown
And then you have the other side of it with this NAR thing going on. And what's really you guys commission compression is real, like the days of you when this shit hits the fan and when it's all settled, you're not going to get a five or 6% listing agreement in my opinion, anymore. I think everybody is going to get cut.
00:06:24:00 - 00:06:49:15
Unknown
So not only are you're going to be making less money than you're ever used to now, that's not necessarily a bad thing. Okay, So this is the stage. This is the business that we're in today, guys. So you have two options Adapt and change or die. Yep, one of them. So let's talk about adapting and changing and let's first get into brokerages because whether you're an agent listening to this or not, I know Jim's going to speak through like if you're a broker owner, here's what you should be doing.
00:06:49:15 - 00:07:06:11
Unknown
But if you're an agent, you need to be following people that are doing the stuff we're telling you. Okay. So, Jim, what do you do right now? Like, what do you we're saying it's it is recruiting season because people want to be part of something where they know the direction. And when everybody is walking, it's sort of like if you go to a haunted house, it's Halloween going haunted house and it's pitch dark in there.
00:07:06:11 - 00:07:20:10
Unknown
You're sort of like, what the hell's going to pop up here? And you're sort of tiptoeing all the way through. You just want to turn the damn lights on and walk through and exit the door. Right? Right. So what do we do in these shifts, Jim? What's the first thing that you're going to do as an agent today?
00:07:20:12 - 00:07:36:23
Unknown
The top three things you can do and we're training our agents to do this right now is just to be on the cutting edge. You gotta look at this as an opportunity for growth. And you got to look at this is not a challenge, but an opportunity. So here's the opportunity for growth. Number one, you need to act as if this change has already occurred.
00:07:36:23 - 00:07:53:21
Unknown
Act as if we're five years out from these lawsuits being settled because they are going to be settled. They're being sold right now. These are the major lawsuit goes this goes to court October 16th, one of them is going to settle. And the outcome of that is going to be, ah, the way we collect fees from buyers is probably going to be we're going to collect it directly from a buyer.
00:07:53:23 - 00:08:12:01
Unknown
So let's assume that's already changed, right? I taught that too. I taught the accredited by representation class for ten years. So he used to teach us for years. But here's what I'm going to change. I'm going to start treating buyers the same with the same respect. I treat sellers, meaning I do a buyer presentation every single time when I'm with a buyer and I say, Hey guys, can I just take a few minutes and show you how I work?
00:08:12:03 - 00:08:27:10
Unknown
Can I just kind of walk you through the process of how I work with all my buyers and now I'm going to open up maybe a digital presentation of here's the process, here's the five things we need to talk about as you're working with the buyer. And during that buyer presentation, just like with the seller, I'm building value in my services.
00:08:27:12 - 00:08:42:20
Unknown
Now, let me tell you the key part of your your, your, your proposition, your value proposition. It's not finding them in the home. C most buyers today we hear it all over the internet. I can unlock a door and I can search for homes myself. I don't need a realtor to do that. So we got to take that off the equation as fast as possible.
00:08:43:01 - 00:08:57:20
Unknown
And what we say is, you know, finding the house is really the easy part. And then we say the hard part is what comes next. And now I'm going to build my value from here on out. Now, how am I going to build that value? I'm going to say, so what I do is when we find that house, here's here's here's the steps I go through.
00:08:57:20 - 00:09:14:02
Unknown
We're going to do some deep research on the house. I'm going to check the assessment data, I'm going to check the planning data, and I check the zoning data. I'm going to check the overlays. We're gonna look at what the seller paid for the house the last time, the refinance, the property, all the trends that are happening. That neighbor over the last five years, we'll do an in-depth buyer, CMA, on that property.
00:09:14:02 - 00:09:36:20
Unknown
We'll see if there's any red flags on the permitting. Have they not pulled the permits for the last construction? They've done that deep in the house. You're going to know more about that house and the on has about that house by the time I'm done. And then once we know about that house, my real skills are going to show because I'm now going to talk about negotiation, that negotiation aspect of your skill set is the number one value point that buyers look at from you.
00:09:36:22 - 00:09:55:24
Unknown
They want the best negotiator in the market. It's just like a surgeon and the best surgeon. They want the best negotiator. Then he got approval with testimonials and back it up and show them proof of life, how you've helped other people negotiate great deals. Now you're going to set the stage for you are worth whatever you're asking. I'm not worth 1%, 2%, 3%, whatever your number is going to be.
00:09:56:01 - 00:10:13:22
Unknown
And you're going to have to set that number. It's not going to be like I'm just accepting what the seller is offering. It's going to be I'm going to be charging a buyer. What's that number going to be? Right? So step one buyer presentation set, you know, you're in a value proposition. Step two is really understanding the buyer representation agreement in your market area.
00:10:13:23 - 00:10:29:03
Unknown
Whatever state you're in, there's a buyer representation agreement that's already been created. You need to get it out, you need to read it, review it and understand and be able to present it just like you can listing appointment at listing point of the listing documents. Right? And number three, you got to start roleplaying this with somebody in your office you trust.
00:10:29:03 - 00:10:46:09
Unknown
You've got to actually practice, practice, practice. I call it the three step method of practice. You had to memorize a presentation cold, you got to internalize it so I can turn any page of my presentation or have any objection thrown at me and I can respond instantaneously. And last I got to personalize in real time to the client I'm dealing with.
00:10:46:15 - 00:11:01:00
Unknown
So those are three things we're talking about. Like it. So I'm going to dig deep a little bit further. It's crazy that a lot of people don't do buyer like I started doing buyer console. That's how I learned all the business. I was only 21 years old and no one took me seriously. I was an alcoholic pretty much at that time.
00:11:01:00 - 00:11:16:05
Unknown
Like just at the bars every day and then had to go meet with someone that was ten years older than me, literally, and tell them. On why they should buy a house. So I knew instantly I had the world against me in all odds against me. Because why are you listen, this punk kid who just got out of college talking about your wisest investment ever?
00:11:16:11 - 00:11:29:00
Unknown
Well, I got really good at presenting, and I got to build my worth in there. And I would tell people straight up, Look, I don't really care what you buy. I don't care where you buy. I care what you buy. And the only reason you're going to hire me is because I'm going to get you a better deal.
00:11:29:00 - 00:11:48:13
Unknown
That's the reason I have a job, right? You know, it was just it was just straight up. But there's going to be a lot of other things. Like you guys have to look at your business today as a no differently than a restaurant does. What's the experience that you actually provide? Are you going to give them hair in their food or are you going to actually walk away and they're going to be talking to everyone else about why they should come visit your restaurant?
00:11:48:15 - 00:12:03:01
Unknown
And this means you're going to have to stack your offer. The days of opening your doors and closing them like there's going to be part of the job that's going to be like 4% of it. Yeah, this is facilitation is also another way to build your value. Like you have to sell your service and be like, like I'm a bulldog.
00:12:03:03 - 00:12:19:06
Unknown
I'm going to get you the best deal. And the only reason people hire me is because I'm good at finding deals. Some some you guys are going to develop off market deal finding abilities that's gonna be very high in demand. Some of you guys need to facilitate the entire deal. That means you have to do a hands off, buy a house with me.
00:12:19:11 - 00:12:38:07
Unknown
I'm going to give you your movers. I'm going to give you the the whole process. I'm going to turn on your utilities for you. I'm going I mean, it's literally got to. You are no longer a real estate agent. You're fucking Home Depot, right? I love it. Well, and I like this idea that you got to create your own unit.
00:12:38:07 - 00:13:00:22
Unknown
You are. You're talking about your unique selling proposition. What is it different about you than the 5000 other realtors in your marketplace? And a couple of things that we've been talking to agents about is like you're saying buyer concierge services. And here's a classic example that most agents take a buyer, they meet with them, they find out their criteria, they plug it, and then their criteria list on their website, and then it just spits this stuff out at their buyer.
00:13:00:24 - 00:13:16:08
Unknown
And the buyer every morning gets an email. Here's the five properties that match our criteria. Pretty soon, within about three or four days, it becomes noise and they're like, Delete, delete. Billy till they do what a great agent will do is say, I'm going to say to that list, but I'm in a curated. So every day you're going to get it, I'm going to get it and then I'm going to go back.
00:13:16:08 - 00:13:31:06
Unknown
I'm going to give you the notes because I've already seen a lot of these houses. I'll tell you which ones, the Best Buy, which one we got to go see right now, today. So you can now going to get those notes. Now the notes become valuable. Now they come a lot because you're curating. That's a classic example of adding value to a system that's already out there.
00:13:31:08 - 00:13:45:07
Unknown
Yeah. And this includes having coffee ready in the car when you pick them up. Like that was a that was a must for me. I would bribe people with gifts, dinners, lunches, whatever, because as soon as I bought them something, I knew they're loyal to me and I used to pick them up, literally. I go, You're not driving.
00:13:45:09 - 00:14:07:05
Unknown
I can't stand when agents like it. Follow me. No, the help get them in the car with you. That's when you're actually building your rapport with them and generating referrals off of the relationships they have access to. So, like, all of these things are such little big, big, big keys. Now, I don't personally, though, I don't see a buyer like, look where I'm at in California.
00:14:07:05 - 00:14:22:24
Unknown
I don't see a buyer paying 3% of a purchase price to an agent at $1,000,000 like. So you're going to charge me 30 grand cause you can't finance that. I do think there will be a lender that comes out with financing rolling commissions and that's what content lenders like. Where are you guys at? Like, why isn't it hot out already?
00:14:23:01 - 00:14:37:13
Unknown
Yeah, but I believe that's what's going to be if, if you're listening, you're in the lending world, that's what I would be focused on. How do I create a product to finance buyers agent commissions? And then I'd go after every single buyer's agent in the world, and now you'll have all the business you need without spending a fucking dollar on a great.
00:14:37:13 - 00:15:01:05
Unknown
Yeah, that's got to be a product that's going to be rolled out for sure. That that will be the challenge and that's going to see commission compression. I bet you will see a lot of agents go to a flat fee and they'll say, I just charge five grand, I charge ten grand, whatever the number happens to be. That's going to be a conversation with every brokerage and every age in America is, first of all, as a broker, do we have a set standard like we're going to have a minimum standard in our office, just like we have a minimum standard, probably with seller listing fees?
00:15:01:07 - 00:15:19:21
Unknown
And what's that standard going to be? Right. So we're all going to have to make these kind of really tough decisions here in the next probably six months to a year of how we're going to run our business and how we're going to what we're going to charge for buyer representation. I would focus on building options. Here's option one where you have like, you know, I'm barely working on your deal.
00:15:20:02 - 00:15:38:07
Unknown
Here's option two that you got me mentally involved and here's option three Why? Well, if I can sleep until I get you what you want, right? And then you're going to have those different things. Now let's go to the brokerage. And because we're laying out what you should be building the environment for. Right? So like, if we're telling agents what what to have.
00:15:38:07 - 00:16:05:11
Unknown
Well, here. Here you go, Mr. Broker. We know commission compressions real like we have a software we just released. It's called Suite Assist, and it's all about teams and brokerages. But a major portion of that are ancillary services and profit maximizers because we know this is coming. So we have relationships with vendors like solar, for example, handymen movers, where agents can make multiple streams of income around the transaction, because we already know that you're not going to getting the two and a half percent.
00:16:05:13 - 00:16:24:11
Unknown
Yeah, no, as a team or broker leader, what I'm doing is I'm filling up all of my affiliate and local vendors and service providers so that I could help my agents create a better experience so that they could earn that commission. They're going to charge the individual agent is very rarely going to put all this stuff together, the team leader or broker owner.
00:16:24:11 - 00:16:43:14
Unknown
Their responsibility is to do just that. You need to build the rest around. Your agents are going to cook in home. I love it. Love it. It's very similar what you're talking about with brokers already realized about ten years ago, some brokers, and that's why they added mortgage and insurance, some of them and title some of them because they saw commission compression at the brokers level.
00:16:43:15 - 00:17:16:02
Unknown
Now we're going to see it more at the agent level and you're giving them a solution for that, which I think is absolutely brilliant. There's a couple and even in the lending world, this is the type of mindset you guys got to think, how can I monetize the things I'm already doing today? Yes, right. And like just in the just in the like the lending world, you can there's a million of these companies now and you could go out and get your MLO, your mortgage loan origination license and you could just refer the deal over to the lender and then you can make a rip off of that.
00:17:16:04 - 00:17:31:05
Unknown
Right, right, right. So there is ways that you're going to have to look. And it's actually very healthy because whoever wants to rely on just one stream of income and I'm not talking about your going to get rich off the you're going to get you're going to have a couple dollars coming in from every which way you might sell a mover service.
00:17:31:05 - 00:17:51:11
Unknown
Right. And but you might only make $100 off that move or service. But it's know it's on the books, but there's three or four other of those different transactions around the real estate transaction that you can absolutely monetize. And I think that's the going to be the future of of, of this business is you're no longer a real estate agent.
00:17:51:11 - 00:18:06:11
Unknown
You are like your Home Depot and you have to provide all kinds of services all around, not just the transaction of the House but the ongoing servicing of it. Yeah, hundred percent. And that and I think agents that do that are going to be more like the concierge anyway, which is what clients want. They want one stop shopping.
00:18:06:13 - 00:18:30:08
Unknown
Yep, for sure. So let's get into this here. I have a question I want get your opinion on this or I, I agree. I think buyers are going to like, do a flat fee type service, but I do think that in the way that I'm reading the lawsuit, you might know more about this tonight than me. You have a lot more insight in it.
00:18:30:10 - 00:18:48:01
Unknown
Their lawsuits aren't going to say that you can't offer a cooperating commission. No, They're going to say, like you, if you're offering a cooperating commission, you got to tell the seller straight up, hey, I'm going to charge you 4%, but I'm going to use like one and a half percent of that to pay out a buyer's agent to entice them to come get the house.
00:18:48:03 - 00:19:17:00
Unknown
Right. Right. And in the event that buyer's agent doesn't sell the house, I not on my own, then I'll drop that percentage. But you're going to pay a buyer's agent to entice them. Is there any do you see any language that doesn't allow that? No. I think what would the the language of all the lawsuits that I've read and I've read them, I think all of them is that it's going to basically when you go to a seller, there's going to be a requirement that says, listen, Mr. or Mrs. Seller, you know, you can offer a buyer agent commission if you'd like to, but you're not required to if you do choose to offer one.
00:19:17:05 - 00:19:33:21
Unknown
You know, here's what's happening competitively in the market. But there's not going to be this situation where they're forced to offer one because of what's happened over the years, is that all these MLS is that are owned by realtor organizations, that that's been a requirement that you have to offer Vasya by raising commission. So you're going to see that go away.
00:19:33:23 - 00:19:51:13
Unknown
I think that's inevitable. That's going to happen. The question mark really is will Sellers still offer a back when given the option not to? And that's a question mark. We just don't know yet. Yeah, it's going to be on how you pitch it. Yeah. Because what's going to happen is in the news media, they're going to pick up on this.
00:19:51:18 - 00:20:09:17
Unknown
Why would you ever pay somebody that to represent somebody that's working against your interest financially? And, you know, when people actually start to kind of think about that, a lot of sellers can be like, why would I do that? Why would I pay somebody to work against me? As makes sense? And that's that's the whole pitch. Yeah, it's interesting.
00:20:09:22 - 00:20:26:15
Unknown
There's so many different ways to spin it. Yeah, I could honestly see both. Like, I don't like the arguments, but I can understand where they're coming from. I don't doubt that it's going to cost lots of people that won't be able to get into a house because they won't be able to afford to pay an agent. So it's going to it's going to hurt the industry, in my opinion.
00:20:26:17 - 00:20:53:17
Unknown
So now let's look at opportunities, though, because let's be honest, like the the less agents are, the transactions are still going to happen with or without real estate agents. People move, right? So you're going to see a lot of agents probably leave the business. But, you know, and just think to yourself, like, how many times have you lost that one or two deals a year to like little cousin Billy who just got his license or ansu the blue haired realtor and invite her to do She is a billionaire, but she went got her real estate license because she just needs some to occupy her time with.
00:20:53:19 - 00:21:17:18
Unknown
And every single year you lose a couple. Those are gonna be losing those deals. Yeah. As much anymore because there will be less transactions or I mean less agents and then it's just going to be. But I think that's what's coming, what's going to happen to Na Na is I'm in trouble right now because na with the settlements that are just they haven't been approved yet but with first of all Redfin bailed out everybody thinks Redfin bailed out because of the sexual harassment suits that are happening.
00:21:17:20 - 00:21:35:13
Unknown
That's part of it for sure. But if you look deeper into what's happening with Redfin and the reason why Redfin just bailed out Redfin resigned from the board of directors of an are because I refuse to give up on this back issue. And they said, no, we are not going to bend on this issue. And they said, if you don't get on this issue, we're bailing.
00:21:35:18 - 00:21:53:01
Unknown
They left the board and now they've left. You know, they're giving their agents. They haven't completely left, but they've given their agents the option of not having to be a member of M&A. Ah, but what a lot of people don't realize is in these two settlements now with anywhere they call a banker, think Sotheby's, you know, think these big major companies that are owned by anywhere.
00:21:53:06 - 00:22:11:08
Unknown
And now Remax, both their settlement agreements also state that they're not going to require their agents to be in our members. So all the agents at these companies are not going to be required to be an NPR member. You know, are they going to stay or maintain their membership? Our brokerage is going to maintain their membership. The key component will be in their local MLS.
00:22:11:08 - 00:22:29:02
Unknown
Is is it owned by NPR and are they required to be a member? In that case? So lots of fallout here happening. I definitely see many are under more pressure than I've ever seen in 30 years in the business myself. I've never seen it like this. The conspiracy theorist in me tells me this is a set up to get it out of the way so they could go to real.
00:22:29:02 - 00:22:44:22
Unknown
What is step two in this whole entire situation? Because who's going to? There's no one left to lobby for the industry after Na's gone. I agree. I don't think many agents are going to be stay on as members because every agent always complains. I see on socials like, Hey, what is not even do anyways? What's the point of this?
00:22:44:22 - 00:23:01:00
Unknown
Right? And that's not his fault for not creating a value, but that's sole purpose of we're talking about. If NA can't particularly value for their own agents, you have to create value for your own clients the same way. Otherwise there's no reason to work with you or be parties. So NA, pay attention. Listen to your own advice writer.
00:23:01:02 - 00:23:22:18
Unknown
All right, so let's look at this brokerage and let's go into brokerages and what they're doing. The listing agent side is there, but I think it's got to be ancillary streams of income. And then you got to look at different ways to make money. I do firmly believe every single real estate team or brokerage will end up being.
00:23:22:18 - 00:23:38:08
Unknown
I think there's going to be a conglomerate of smaller entities as opposed to super large ones, or there's not going to be like a middle of the ground in. A lot of the smaller ones are going to be rehabs or investors themselves. That's going to be one of their profit centers. And they're they're just going to happen to own a real estate brokerage.
00:23:38:10 - 00:23:58:22
Unknown
But it's going to be something like that. And there's so many different ways to diversify your ends. What do you see out there and what do you what's your advice for brokers and teams and for the for brokers, their lifeblood and for teams? Frankly, too, if you got to be a great recruiter, right? That's what my brokerage coaching company, we're all about recruiting and retaining great agents.
00:23:58:24 - 00:24:13:17
Unknown
But if you're not a great recruiter, you're going to you're going to have a real hard time in this market because what recruiting does for you is it brings profitability back into the company. You've got ten agents that have left your last year. If you ever replace those ten agents, you just might have lost $100,000 worth of business net profit for your company.
00:24:13:17 - 00:24:31:18
Unknown
So you got a challenge. You got to replace those agents with great agents, and it's a shrinking pool. So that means you got to become an expert in recruiting. Absolutely, positively. One thing that I think is going to attract agents, you got to say what's going to attract an agent to my firm? The big thing over the last 20 years is, man, it's always commission splits, commission splits, commission splits.
00:24:31:20 - 00:24:51:02
Unknown
And, you know, you definitely got to be competitive, no question. But what's more important than a commission split? And I this is what I got to drive home to everybody. What's more important than a commission split is helping agents close more transactions because 100% of nothing is nothing I can be closing two transactions. You're going to end percent and not make as much money as somebody closing 20 transactions or 15.
00:24:51:07 - 00:25:18:19
Unknown
So as a brokerage owner, team leader, I got to be able to demonstrate to agents, I'm going to help you close more transactions, bring more money home to your family. I'm going to show you how I'm going to do it, either with playbooks, with strategies, with technology. One of the my favorite things of the agent that brokerages should be doing is actually and team leaders actually starting to think of themselves as a lead source for their for their agent body and saying, I'm going to go create the leads as a brokerage owner or team leader.
00:25:18:19 - 00:25:36:24
Unknown
I'm going to hand them out. Even if there's a fee attached, these agents, the agents will pay the fee all day long and they'll be excited to work for you. And they will never go anywhere if you're able to generate leads. So I think the new paradigm for a lot of these brokerages that are going to be successful and team leaders are I've got to be the marketing company, the branded company.
00:25:36:24 - 00:26:00:21
Unknown
I got to go after these leads and deliver them. That's why. Yeah, I 100% agree you're going to. Yeah, the agents are your clients. Yeah. You're going to have to create trainings for them. You're going to have events for them. If they have socials, you got a sales meetings, but yes, you're going to have to create business or systems for them as well, because you can't, as most agents aren't business people like.
00:26:00:21 - 00:26:20:00
Unknown
And this is no knock on anybody like you got in the real estate. That is a good idea and whatnot. But mostly all are entrepreneurs like that. That's just and this is an entrepreneurial space and that's not a bad thing or not. But if you're not that visionary or you're not that entrepreneur, then you join a team and you plug right in there and then you become part of that, right?
00:26:20:02 - 00:26:41:12
Unknown
I hundred percent agree on the on the lead. You're going to have to do something to encourage increase of business, increase production. Yeah. What about what do you see happening with this is something I've noticed firsthand is like over the last few years we've seen a lot of the export of the world now Reals and others. LPT There's Exit Realty.
00:26:41:12 - 00:27:02:05
Unknown
I used to be a broker owner of back in the day or the first commission multi level marketing company right but a lot of those I've seen like if people who left like our broker here in San Diego, like I said I'm coming back to because their downloads are down, like their downline still has to create production, right?
00:27:02:05 - 00:27:21:16
Unknown
You still have to have closings for it to work. What do you see in Across the Edge? And then as a broker owner, what do you think is the opportunity there? I think that the virtual hybrid model is is definitely a viable model. I think the idea that I'm going to recruit, shoot instead of sell real estate is a flawed model.
00:27:21:22 - 00:27:50:13
Unknown
I thought you first, if you're going to be in real estate, have to sell real estate. And I think that big sell to all these agents out there has been detrimental to the industry and detrimental to them personally because of exactly what you're saying as their downline collapses and it will collapse with agents that have been doing one or two transactions are going to exit the business, then then you've got a problem because now their income stream has gone in half or to a third or to an eighth of what they were getting before and they forgot how to sell real estate because they've been so focused on recruiting.
00:27:50:19 - 00:28:08:04
Unknown
That's a problem. I think, you know, hybrid virtual is great model. You can cut costs and there's some advantages to that. But I think more importantly, you've got to train agents how to sell real estate and build and build a viable business. That way, if you can come in, it's coming back. Yeah, that's the basics. The fundamentals and the basics.
00:28:08:08 - 00:28:28:12
Unknown
If you if you just apply that same model and you said, what if we apply that model to attorneys, would that work? It wouldn't work in any other industry. It probably wouldn't work very well. Right. And it doesn't work long term for realtors either, I don't think. But my personal opinion, I agree. Yeah, it's interesting to do that in the attorney world.
00:28:28:14 - 00:28:45:01
Unknown
So the top three, if I'm a broker owner, what I'm hearing you say is you got to focus on agent problems. First one is production. You have a second one is is education and leadership. Right? What do you do in this type of market? Well, you've never been here before. These are all opportunities, right? Like you guys can be having training events.
00:28:45:03 - 00:29:05:05
Unknown
And I love leading with education. I think that's the ultimate way to you have to recruit. I've always said that is when people show up to your education events, they're asking you to be recruited because they're looking for help and they might not know it yet, but they're there for a reason. Right? And if you're the one and you become that shining light on a dark day, well, you just made the job 99% easier.
00:29:05:07 - 00:29:21:12
Unknown
Right. And I think what people will really buy into is culture, too. They want a culture of growth. They want a culture of excellence. They want a culture of leadership. When you have leaders that are walking around kind of with their head in the sand, they're not addressing the current problems. They're just saying, wait until, you know, I'm hearing this big thing now, you know, stay alive till 25.
00:29:21:12 - 00:29:42:14
Unknown
That's just an excuse. What do you need in 2025? You're going to go broke, right? That's terrible. People are saying that. Oh, I hear that all the time. Stay alive for 25. Terrible. It's almost like date the rate, marry the house type thing. I couldn't stand that one man thought about it. Saying that makes you go nuts. That was it for me and people I agree with you.
00:29:42:14 - 00:30:00:19
Unknown
People want to be rescued and you got to be able to be the one that's running the ship that can rescue people and say, how can I rescue them? What's the hottest topics on my market? Educational events also being super present and like you've been coaching for years and years on social media with video content and educating people through video chat as well.
00:30:00:21 - 00:30:20:01
Unknown
I'll tell you what doesn't work. I'm going to give you two things that doesn't work, in my opinion, is you got a lot of people that are hired ISS to cold call recruits. Terrible idea. You're never going to get great agents cold calling with ISIS from wherever part of the world. And the second thing is just relying on social media alone to recruit or putting ads on.
00:30:20:01 - 00:30:36:04
Unknown
Indeed. But you got to look at yourself is as like an NFL, NHL, you know, NBA team owner. And that's the way I recruit is if I'm recruiting the best people, the LeBron James of the world, that means I got to get on the phone. I got to have a conversation. I've got to have a meeting, probably several meetings, and I'm pitching.
00:30:36:04 - 00:30:57:03
Unknown
And that's where salespeople are the other day. And when you kind of turn your attention as a brokerage owner into I'm a salesperson selling my company, you're processes will change and you'll get better in recruiting. I like it. And you guys got to be loud. This leadership is probably the would you agree? Leadership right now is the number one thing you could be doing.
00:30:57:03 - 00:31:17:20
Unknown
So if you're that broker owner like you have to be creating videos, you have to be on social media. And even if your bottom line is hurting, fake it till you make it right now because it won't be long. You need to get out there and be loud because I think people are just looking for that leadership. Yeah, and it sounds a lot simpler than it sounds so simple, though, Jim.
00:31:17:22 - 00:31:33:11
Unknown
It is. I mean, it's just exactly what we tell our agents to do. You got a prospect every day. We got to recruit every day. You on the phone, five calls a day. You know, from my experience, five calls a day, one appointment, five appointments equals one recorded agent. So I'm just going to I got to get the path is in the math, right?
00:31:33:14 - 00:31:48:13
Unknown
The fortunes and the follow up what eight what brokerages do is the same thing agents do. We procrastinate. We don't do what we're supposed to be doing, and then we wonder why we're going broke. We got to figure it out. We got to say, Hey, I'm going to take and apply the same standard. I coach my agents to prospect.
00:31:48:15 - 00:32:12:06
Unknown
We generate follow up, you know, I agree. Jim, any closing thoughts here? You want to provide to agents or broker owners? I think broker owners, the one thing I'd say look at this is the probably the best period of recruiting in the last ten years. This is a wide open window for you to recruit the best agents in your market, bring them into your fold.
00:32:12:08 - 00:32:33:13
Unknown
It's an amazing opportunity. Look, specifically, if you really want to go for it, look at teams and a lot of these team members that are on a team are suffering. They're really suffering and they're great agents, but they're suffering and they're there at subpar commission splits. They're not getting leads. They used to great opportunity in teams also second, second opportunity, huge opportunity is brokerage acquisition.
00:32:33:13 - 00:32:51:06
Unknown
And when I say acquisition, I thought you you're writing a check but that they're walking their agents over to you and you're giving them ten, 20% off the all the agents they bring over the next couple of years. It's a walk over. Huge amount of walk overs are going to happen over the next 12 months. Massive amounts of companies are going to fold up shop, don't let them fold up shop and close their doors.
00:32:51:12 - 00:33:08:20
Unknown
Bring them under your under your under your fold. Lots of communication about that with agents at the end of that buyer presentation, what would you look for? That's a really good point. M&A is guys. Yeah, because people aren't going to there's an ego thing there. Yeah, right. And you got someone who had a shop, but the reality is it's not doing as well.
00:33:08:22 - 00:33:25:11
Unknown
They don't want to shut it down now because I going to feel like a failure. Right. But they want to keep it going and figure out a way to make income and you can absorb them, bring them into your mix. And what what are the signs of finding a brokerage that's ripe for an M&A? It's studying. You got to know your market stat.
00:33:25:11 - 00:33:45:15
Unknown
So I'd be watching where you where the all the companies are in the marketplace rank them you know, top 50 companies and watch their production numbers We're watching in our market and we've just seen there's like a one and two, we're number one. We got a number two behind us. But then you go down to three and four and five and six and it's like 50% down, 50% down, a 2% down.
00:33:45:17 - 00:33:59:23
Unknown
And it these companies that are 50% off or more than last year, they're already losing money. It's just a matter of how much per month And what's the bleed for them. The key thing is you just got to open the door. And the way you open the door is you just invite those people to lunch coffee and just say, Hey, we've admired your company for years.
00:34:00:00 - 00:34:16:13
Unknown
I just want you to know that the door is open. If you ever decide to make it, make a change, exit anything like that. Please be the first person I talk to. They're going to say no initially because it's because it's an ego. But within 3 to 6 months I'll be calling you. Very good. Especially if you're loud.
00:34:16:15 - 00:34:33:05
Unknown
Stay in front of them just same way like we do with clients, right? Yeah. They're. They're a good stuff, too, folks. This isn't doom and gloom. There's a lot of opportunity. I know it might be a little rough right now, but it's what do during the times of the hard that make into the times of the good and the people who put their head down right now.
00:34:33:12 - 00:34:52:04
Unknown
Yeah, you might take a little bit of an income here for the next few months. That's fine. Okay. But you're you're building a brand right now, and the one who's standing at the end of the day is the one who wins. And I always like to tell people, and you guys with this, don't be the the hare, be the tortoise.
00:34:52:04 - 00:35:20:13
Unknown
The tortoise look nice and slow. And they won the race because they're consistent. Went back to the basics. Just went left foot, right foot, left foot, right foot, left foot, right foot. Did it take shortcuts and try to do this and try do that? And at the end of the day, who wanted to embrace the tortoise? But so you got to go back to the basics in these times when openly if I'm going to summarize the call today, one is leadership honor percent two as systems stack in your offering on behalf of your agents, if you're an individual agent, you stack your offering and create value.
00:35:20:19 - 00:35:41:01
Unknown
If you're the broker owner, you need to create value for your agents because you got to assume that they're not going to do it on their own. Lead generation systems to enhance business for brokerages, for their agents, and then ultimately leadership. No one's been here before, guys. If you've been in this market, you have a skill that most people will listen to right now.
00:35:41:03 - 00:36:00:00
Unknown
If you've been in the last year for those you in oh seven, oh eight or nine and ten days, you got to bring those stories back up. Yeah, but what you did, because that's what people are looking for, looking for that experience. Any additional closing thoughts? You know, I think I think you're exactly right. And bringing some positivity and some light to your agents.
00:36:00:00 - 00:36:15:13
Unknown
People want a positive person and that's going to attract agents. You have think of how am I attracting people, going to attract people to your positive messaging every day? It's not negative, it's positive. Don't look at the challenges, look at the opportunities. Every single thing as a silver lining. And we're putting those silver linings out to our clients and our agents all the time.
00:36:15:15 - 00:36:30:14
Unknown
Love it. Love it. Thanks, dude. I appreciate your insight and we appreciate you listening. Another episode of the Estate Marketing Do podcast. Folks, if you're looking to build your brand, stay in front of that database in a very nonchalant system and create ancillary streams of income and your broker owner, or if you're an agent, you can check out suite assist.
00:36:30:16 - 00:36:47:02
Unknown
So yes, this is a true all in one platform that helps you manage your entire office, but more importantly, it gives your agents a marketing system to stay in front of their database effortlessly, and it gives you the infrastructure to create additional streams of income to adapt in today's current market conditions. So we'll see you guys out next week.
00:36:47:02 - 00:37:13:16
Unknown
So appreciate you. See you later, Mike. Thank you for watching. Another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.
00:37:13:20 - 00:37:16:15
Unknown
Thanks for watching. Another episode of the podcast will see you next time.
- Luisteren Nogmaals beluisteren Doorgaan Wordt afgespeeld...
- Later beluisteren Later beluisteren
Define Your Value Proposition When Working With Investor's Cost Segregation
30 sep 2023· Real Estate Marketing Dude
Cost segregation is often overlooked but is a useful as a value-add proposition and can lead to significant tax savings. Today, we talk all about it.
Resource
Check Out Cost Segregation Authority
Real Estate Marketing Dude
The Listing Advocate (Earn more listings!)
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REMD on Instagram
Transcript:
00:02:38:11 - 00:03:09:09
Unknown
So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.
00:03:09:16 - 00:03:35:03
Unknown
What's up? Ladies and gentlemen, welcome to the episode of the Real Estate Marketing Dude podcast. Folks, we've been walking around or walking around talking about and around the shift in this marketplace and what the hell you as a real estate agent are going to do to actually earn your split. There's a huge lawsuit going on. A class action settlement.
00:03:28:02 - 00:03:50:14
Unknown
Looks like it's got some legs in the market. We're dealing with fucking 8% interest rates. And let's be honest, the transactions are down. We're at number 60,000 real estate agents have left the industry so far, and these times are times that you want to look forward to, believe it or not, because it's during the shifts that you actually gain market share and make moves.
00:03:48:00 - 00:04:16:11
Unknown
This is when people start making money, but not the ones that sit and do absolutely nothing and still doing the same shit you're doing 25 fucking years ago. So what we're going to be really chatting about today is how you sharpen your skill set as a real estate agent, a lender, anyone within this marketplace, because your broker ain't going to save you out of this shift.
00:04:05:03 - 00:04:39:04
Unknown
Who's going to save you is your own skill set. And a lot of times, I mean, you're going to get off your butt and learn something new and start providing more value in a market with high inflation and costs. I mean, gas today, I just spent $140 filling up my truck in gas. I'm in San Diego. People want to learn how to save money, period.
00:04:25:24 - 00:05:03:06
Unknown
There's not a better time than to learn what we're going to talk about today because it has everything on how to save money for your already existing clients. Much of what you could be using for content right now in this day and age, because nobody one of the things that's resonated the most is how do you help people navigate the mess of the economy we're in and the save money?
00:04:44:20 - 00:05:03:06
Unknown
So without further ado, we're going to go ahead and introduce our guest, Mr. Eric Oliver, who's an expert on cost segregation. And I'm going to let him tell you what that is in a second. So why did you say hello to our guests? So a little bit about yourself and what we're going to talk about why the House is so important today.
00:05:00:14 - 00:05:46:18
Unknown
Because it is. Yeah, no thanks. My pleasure being here. My name is Eric all over. I'm with a company called Cost Segregation, and we work with investors, brokers, agents, CPAs across the country helping their clients or helping them save money, save tax dollars through their real estate that they currently hold. And so the way we do that is something called cost segregation, which really is just accelerated depreciation on your real estate holdings.
00:05:28:19 - 00:06:05:03
Unknown
So one of the benefits of owning real estate is you get to depreciate that or take an expense every year. However, that expense typically gets spread out over either 27 and a half or 39 years. And so what we like to tell clients is, listen, I may not even own the building in 27 and a half years, let alone be alive.
00:05:47:19 - 00:06:22:13
Unknown
The way my wife tells me I eat, I probably won't even be alive in 27 and a half years. So I want my deductions now versus letting the IRS hold on to these. And that's what we do through cost segregation is accelerate those deductions. Interesting. So in other words, you could people if you owned real estate and three realtors and everyone who's on this podcast, you're in the real estate space, you can save your clients money and shit.
00:06:13:13 - 00:06:39:15
Unknown
They didn't know you could save them money on before. And you're talking about creating a value add and trying to create buzz and trying to add value in today's market. Tell me more and who is your ideal client for This is just a homeowner living. There are these are these real estate investors that have investment properties and is there a difference?
00:06:28:24 - 00:06:58:01
Unknown
Sure. So kind of our our ideal customer would be somebody who owns real estate. So usually it's the investor themselves, not so much the tenants or the people living there. It's only the appreciation, only work. So you can only take advantage of it on revenue generating properties. So can't be your primary residence, but any investment property, the way it works is when you buy a property, you don't just buy the land and the building.
00:06:54:21 - 00:07:28:19
Unknown
Think about like a single family residential unit, for example. So I buy that. Let's say I spend 500,000 on it. I'm buying the building in the land, but I'm also buying a bunch of carpet, I'm buying some appliances, I'm buying some cabinets, I'm buying a sprinkler system, my buying a driveway, all those things I mentioned, the IRS says should be depreciated at a faster rate than 27 and a half years.
00:07:17:14 - 00:07:47:19
Unknown
Now, the problem, Mike, is when you give that closing statement to your tax preparer that says you bought this residential unit for 500,000, your CPA, your tax preparer, they don't know the value of the parking lot. They don't know the value of the driveway, they don't know the value of the appliances. What we do, that's what we do is we come in and we take that $500,000 purchase price and we segregate those costs, thus cost segregation.
00:07:41:16 - 00:08:04:22
Unknown
We segregate those cost into different buckets, which now allows your CPA to depreciate all the appliances over five years versus 27 and a half. And we put a value to those. So we say, okay, of that 500,000 you spend, you know, 40,000 of that was for appliances, you know, 80,000 of that was for a driveway, for the cement, for the sidewalk, all those different components.
00:08:04:10 - 00:08:33:19
Unknown
And so that's what we're that's the service we provide as we work with investors and CPAs and brokers on accelerating the depreciation. And now why is it so important for real estate agents and brokers? And the reason for that is it just is one more one more tool that differentiates you from the next guy, right, or the next gal.
00:08:25:03 - 00:08:54:16
Unknown
So being able to tell your client, hey, I know you're looking at purchasing this property, but what if we can free up $80,000 of cash flow by doing cost segregation once you purchase this? Or better yet, not to get too far in the weeds, Mike, but you've got a client who comes to you and says, I want you to sell my property.
00:08:43:13 - 00:09:17:02
Unknown
There's an opportunity to save him tax dollars upon sale by doing cost segregation. And so they come to you and say, Hey, wait, I want to list my property with you. I've owned it for ten years. I bought it for a million. I'm selling it for 2 million. I want to list this with you. What if you go back and say, okay, I'll list it, but not only am I going to list it, but have you considered cost segregation?
00:09:00:23 - 00:09:35:18
Unknown
Because I think you can save 80,000 in taxes upon sale. And so there's a number of reasons why this is important, but those are kind of the main reasons accelerated depreciation and then decreasing the tax liability upon self for some of your clients. This is amazing. I've been in real estate for 20 years and I didn't know about this.
00:09:18:00 - 00:09:55:13
Unknown
So like, this is really cool because I don't know, I don't know about this and I'm going to assume like I'm pretty fucking advanced, like I know my shit. All right, So if I didn't know about this, I'm assuming the vast majority of people are listening. Don't know about this either. But you know what? I've got a great value add to having folks I'm really talking about here.
00:09:36:11 - 00:09:55:13
Unknown
And if you go back to this, the last few upsells are really talk. You got to define your brand and your your value in this market. And one of the in any shift like this what always happens is going to be that the investor market is going to be the one that's going to feed you throughout the next couple of years.
00:09:52:08 - 00:10:21:10
Unknown
That's just the way it is, because people are deal with 8% interest rates and they're you know, you want to work with investors during times like these. I'm telling you, that's where they're still doing a lot of transactions. The interest rate doesn't affect the cash buyer as much as it does a finance buyer today. And that's why that's where the volume is going to be.
00:10:07:04 - 00:10:43:14
Unknown
So but the point being is like, all right, what's the difference between you and them? You know, me people, I ask this to Eric like what I would brand agents are different business and I know Kevin answers question like what's the difference between you and every other agent in your marketplace right now? And they're all like, Well, I'm going to do a good job.
00:10:26:04 - 00:10:43:14
Unknown
I that by, you know, customer service. A customer service, yes. We know that you have to have customer service that's that's inferred. But this is the type of stuff that we're talking about. Is it the riches are in the niches. And the one that actually knows and is most knowledgeable is always the ones I in demand. That's why doctors get paid so much money.
00:10:43:07 - 00:11:16:13
Unknown
This is a my quote is Billie Jean said this once. This is like the doctors get paid a lot of money because there's only so many doctors. If they're cleaning houses, they wouldn't be paid the amount of money as they are. And that makes a lot of sense. This is a skill set and people who have skills get paid, folks.
00:10:56:24 - 00:11:16:13
Unknown
So I want to put this in a context, and I see you've got a couple of case studies on your site, so I just want to walk through and tell them in a story, I'm going to pick a case study from your site and just walk through how this would work. And you probably know the one I'm going to grab is going to be the residential rental one.
00:11:12:04 - 00:11:36:07
Unknown
And let's just walk through in context how this actually works. All right. So I'm a real estate agent. I have a client. I bought a investment property, residential. It's under four units. And in this particular case study, walk me through I'm going to walk me through what I would do, my involvement on this case study and how I would literally one up like my competition store.
00:11:33:01 - 00:12:02:12
Unknown
So so, for example, you've got a client, they buy a four plex, for example. I don't know the exact numbers on the case study online, so I'm just going to use numbers that they're describing. So I don't have the calculator out. But let's say you buy a four plex, let's say you buy it for $1,000,000. Let's say it's a million X, let's call it 1,000,002, because one thing we do need to mention is land is not depreciable.
00:11:55:12 - 00:12:24:09
Unknown
So you always have to back out the land value. So you buy it for a million to let's say that land is worth 200,000. So you've got $1,000,000 of depreciable basis. That million dollars. If you don't do cost segregation, you're going to take that million dollars, You're going to divide it by 27 and a half years, and that's going to be your write off every year.
00:12:14:03 - 00:12:45:23
Unknown
So I'm just going to plug that in my calculator. 27.5 You're going to get a is that right? Yes. You're going to get a $36,000 write off every year for the next 27 and a half years, which is great. That's why a lot of people get into real estate this $37,000, $36,000 write off that acts as an expense.
00:12:33:23 - 00:13:04:16
Unknown
So let's say I make $136,000 a year instead of me being taxed on 136,000, I've got this $36,000 expense. So now I'm only taxed on 100,000. So again, if I'm in a 30 30% tax bracket by reducing my taxable income by 36,000, I just saved $10,000 in taxes. That's without cost segregation, just standard by 1/27 of a deduction.
00:12:59:20 - 00:13:30:04
Unknown
What we do with segregation, what we propose is that again, when I buy that four plex, I also bought some dishwashers, some flooring, some window coverings, some ceiling fans, all those different components that the IRS says, hey, that stuff doesn't last 27 and a half years. And so we typically, when we do our cost segregation studies, we typically segregate around 30% of that.
00:13:21:24 - 00:14:28:19
Unknown
So on $1,000,000 asset, 30% of that is 300,000. So $300,000 of your million dollar asset, we're going to put it in shorter asset lives, five, seven and 15 year assets, the five and seven year as all your internal stuff washers, dryers, appliances, flooring, etc.. Then you've got a 15 year category, which is all your land improvements, curbs, gutters, asphalt, all the exterior stuff by moving or segregating those items and putting them in shorter life buckets, I'll say it allows us to take that depreciation at a much faster rate.
00:13:54:23 - 00:14:28:19
Unknown
Now, before we go on, Mike, we probably should talk about bonus depreciation because that has a huge impact on cost segregation. Bonus depreciation has been around for a long time. The government uses bonus depreciation to stimulate the economy. So when the economy's not doing well, they say, Hey guys, we're going to give you a bigger write off if you go out and buy stuff.
00:14:14:17 - 00:14:52:21
Unknown
And so again, bonus depreciation has been around for a long time. It's anywhere from 10% bonus up to 100%. Bonus Rewind a little bit to 2017, Donald Trump was our president. Donald Trump owns a boatload of real estate. Donald Trump revised the tax code and when he did so, he took bonus depreciation and made some changes that really amplified the amount of tax savings that a investor could have on their real estate.
00:14:40:22 - 00:15:20:24
Unknown
So two things changed. One is they changed it from 50% bonus at the time to 100% bonus. What that means, Mike, is that any asset that has a useful life of 20 years or less is eligible for 100% bonus. So if I go out and buy a truck today and it's a certain size truck, I can then write off that whole truck 100% of it in the first year.
00:15:02:19 - 00:15:39:15
Unknown
I don't have to spread it out over the useful life of that truck. That's interesting. Yes. So that's the first thing. The second thing to remember, it has to have a useful life of 20 years or less. So real estate normally is 27 and a half or 39. So this is why a lot of tax preparers don't think bonus applies to real estate because they're like, Well, this is a 27 and a half year residential unit.
00:15:24:08 - 00:15:56:02
Unknown
I can't apply bonus, but you can apply bonus if you break out the five, seven and 15 year parts of that asset because those all have useful lives of 20 years or less. That was the first thing. The second thing that changed with the tax cuts and jobs Act was bonus depreciation used to only apply to brand new property.
00:15:43:01 - 00:16:18:01
Unknown
So you'd have to build a brand new four plex. You couldn't buy an existing one. Well, that changed in 2017 and they added five words to the tax code. It says new to you, the taxpayer. So now you can go buy a building that was built in 1970. It's new to you, the taxpayer. You do a cost study, separate those five, seven and 15 year assets, and all of a sudden you can accelerate, take 100% of those.
00:16:08:14 - 00:16:37:22
Unknown
So it doesn't matter that length of time, because if you're going from 27.5 down, you pick what time you want based upon how long you're going to hold the asset. No. So that we pick it based, Actually not we. The IRS has picked it based on how long those assets last. So carpet only last five years according to the IRS, carpet last typically five years.
00:16:31:03 - 00:17:15:19
Unknown
So they allow you to depreciate it over five years, a driveway or a land improvement last 15 years. So typically that gets depreciated over 15 years. So cost segregation is going to segregate those items. Then we apply bonus, which means in that example we had with the four plex, if I segregate 30% of that or 300,000 and I take 100% bonus on that, I'm now getting a $300,000 write off in the first year versus if you remember when we first started the scenario, we were getting a $36,000 write off budget.
00:17:07:04 - 00:17:34:20
Unknown
So now if I make 130,000 in taxes or excuse me in income, in our first example, I remove 30,000 for my depreciate and I'd only be taxed on 100,000. Now, if I applied bonus depreciation, I'm now getting a $300,000 write off. I only make 130. So not only am I going to pay no taxes on my 130,000, I'm paying zero taxes, but now I've got 170,000.
00:17:31:06 - 00:18:05:11
Unknown
That carries forward as a deduction into next year's tax return, and I'm going to pay no taxes next year. So I just put myself 60, $70,000 in taxes by doing cost segregation and taking advantage of bonus depreciation. So that's kind of a high level. Mike, on how it works on buying an asset. Now let me just talk quickly to the agents, because I think this is probably the most important piece for them that's buying on the buying side.
00:17:59:09 - 00:18:30:03
Unknown
When somebody comes to you and they're selling an asset, let's say they come to you, Mike, and they're like, Hey, I bought this. I bought this office building five years ago for $1,000,000, and now selling it five years later and it's worth 2 million. Can you help me out, Agent Of course. The agent's going to say I'm happy to help you out.
00:18:18:00 - 00:18:54:18
Unknown
And not only can I help you out, I'm going to save you tax money by doing so. And the way you do that, Mike, is if I buy a building for $1,000,000 five years ago and I'm selling it for 2 million, I just when I go to settle up with the IRS, I'm telling them that everything is doubled in value, right?
00:18:34:12 - 00:19:22:03
Unknown
I bought all this stuff for a million. I'm selling all this stuff five years later for 2 million. So everything's double today. So the IRS is going to charge you on that million dollars of gain. However, my land is doubled in value. My walls have doubled in value. But certainly my dirty, nasty carpet, that's five years old is not worth double what I paid for it.
00:18:56:11 - 00:19:22:03
Unknown
When you don't do cost segregation, when you're selling an asset, you're telling the IRS that your dirty, nasty carpet is worth double what you paid for it. And they said, okay, great, it's worth double perfect. We're going to charge you tax on that. What is your carpet worth after owning it for five years? Mike, If carpet is a five year asset, so I've owned it for five years.
00:19:16:07 - 00:19:40:00
Unknown
It's a five year asset. It's fully depreciated. When I sell it, it's worth zero. It shouldn't be selling it for double what you bought it for. That's crazy. But the problem is, is your tax preparer doesn't know because they've just treated this asset as one lump sum. They know you bought it for a million. They don't know what the carpet's worth, so then they can't break it out.
00:19:34:24 - 00:19:58:09
Unknown
And so doing cost segregation not only on the front end when you're buying assets, but also on the back end when you're selling ads. And that's where I think it's most valuable of anybody. If you guys take anything from this podcast, the realtors, when your client comes to you, they've owned a building for a couple of years and it's increased in value.
00:19:54:04 - 00:20:26:17
Unknown
Always suggest the cost. So they at least have the numbers run because in that example, that million dollar example, you could save your client 40, $50,000 in taxes and you're going to be a hero in their mind. And not every agent's going to tell them that, you know, agents Yeah, go ahead. I think anyone's going to tell them that.
00:20:13:05 - 00:20:47:09
Unknown
No, that's a tax preparer. Probably. Unfortunately, prior to 2017 and when the tax code was changed, is was it as what's the difference? So the difference was when we segregate that, we say, okay, in that million dollar building, there's, I don't know, $120,000 worth of five year assets instead of taking that 120,000 all in the year in the first year because of a 100% bonus, prior to that, you would have to take that 120,000 over five years because it's a five year asset.
00:20:43:21 - 00:21:27:11
Unknown
So you basically get a 20,000. Well, I don't know what is 12 divided by five five and some change. You're getting you're getting a fifth of that basically every year for the next five years. So it's still good. You're still taking it from 27 and a half and advancing it to a five year asset. But with bonus, we were taking it from a 27 and a half, advancing it to five, and then we were able to take 100% of that in the first year because of that 100% bonus.
00:21:08:13 - 00:21:49:15
Unknown
So now I should state that the 100% bonus did expire at the end of last year. So assets that you do this on for 2023, you're only going to get 80% bonus, which is still very, very favorable and then it phases out 20% every year. Mike Until 2027 when it's down to zero or until the Congress changes their mind and decides to extend it.
00:21:33:03 - 00:22:09:23
Unknown
So there was actually talks in Congress. There's already proposals on the table to extend the 100% bonus into 2025. So we'll have to wait and see. Interesting. Yeah. Wow. Very, very interesting. But folks, if you're sitting there just like listening to this and you're trying to and this is for your own good as well, like if you're buying a property, you know, we always say you guys should be investors yourself, not just selling, helping people acquire or sell the properties.
00:22:00:13 - 00:22:26:02
Unknown
You should be doing it yourself. This is really great knowledge to have. How much is this cost somebody you know, I'm sure it doesn't is a cheap is that expensive? Like what does it cost our clients? That's what they're going to ask us next. How much is it going to cost my client? Well, that doesn't matter if you're making them an extra 4050.
00:22:18:10 - 00:22:54:14
Unknown
Sure, but. But it's going to be a question to have. So like, how do you how does someone pay for this? Because it's not a CPA service, right? It's not. So it's kind of in our studies are engineering based. So it's quite an extensive process. We're basically reverse engineering that house or that investment property and trying to put the values to all the components.
00:22:36:19 - 00:23:19:21
Unknown
So studies typically range anywhere from 20 $700 for single family homes up to 10,000, $15,000 for large office complexes. We've got multiple buildings, that type of thing. So I know that's a wide range. Typically, we want clients to save anywhere from 7 to 10 x their investments. So if they're two for charging them three grand, we're hoping they're going to save at least 30 grand in taxes.
00:23:05:02 - 00:23:42:02
Unknown
And now with bonus percent or with bonus 100% bonus, they can say it even. You know, I've seen cases where, you know, we charge a client 10,000 for a study and they're saving $1,000,000 in taxes. It's crazy. So yeah, that does have a cost to it, but the cost is going to the benefits going to far outweigh the cost.
00:23:25:19 - 00:24:06:17
Unknown
Yeah, I mean, it's just numbers. Hey, would you do this for that is when it comes down to it. Wow, dude, this is pretty, pretty cool. I get it. How about short term property owners like flippers, people who are flipping homes and then that give me that question first. And then I have another question about length of time for other type of investors.
00:23:46:18 - 00:24:06:17
Unknown
So typically flipping if you're flipping homes, it typically doesn't make sense because you're not holding the property. Well, a couple of reasons. One is when you're flipping it, it's never going into service and therefore it's treated as inventory versus as an investment property. So you don't even get to take depreciation on it to begin with. And so flipping typically doesn't.
00:24:05:21 - 00:24:27:22
Unknown
What we'll see flippers do is maybe I flip five houses this year. The last house, I keep it as a rental because I made $200,000 on my flips. I'm going to keep the last house as my as a rental property, rent it out for a few years, take the 100% bonus, pay no tax on the 200,000 I made flipping and then sell it.
00:24:28:00 - 00:24:56:24
Unknown
So sometimes it does make sense if that's the case, because you can use those deductions that you get from your rental property to offset your flipping income in most cases. And so that's oftentimes what we'll see flippers do is you don't get to take depreciation on the ones you flip, but maybe keep one or two of them every year so that you can use those deductions and pay no tax on that flipping income.
00:24:48:08 - 00:25:17:16
Unknown
And then how about someone who's holding property? Is there like a length of time that you see a window here? Like, is it like, am I better off, like holding this property for 15 years or is this like a five year thing? What what's the trend there? I don't even know how to ask that question, but I think, you know what I know then.
00:25:04:12 - 00:25:38:20
Unknown
Yeah. So the longer you hold the property, the bigger your benefit overall will be because there's a time value of money element, there's inflation, there's a number of reasons why. So the longer you hold it, the bigger savings you'll get on your cost sake study. However, on properties over about $500,000 basis, you still want to do it even if you're only holding it for a year because your tax savings will be significant enough to justify a study.
00:25:32:24 - 00:26:01:19
Unknown
So as long as it's held for one taxable year. So if I buy it in January and I sell it in July, that doesn't work. If I buy it in January and sell it the following January and it's over 500,000, it's probably going to pencil out. Now, the nice thing, Mike, is most car segregation companies out there will do a free benefit analysis, so they'll never engage you to do a study unless you're going to save significant tax dollars.
00:25:58:06 - 00:26:23:02
Unknown
And so always get the analysis done if you're holding it over a taxable year and if the asset is at least 500,000, it always makes it typically always makes sense like it. Any closing thoughts you have for anybody else on the job? And then tell us about your site and where they can learn more about you. So kind of just closing thoughts.
00:26:20:12 - 00:26:58:00
Unknown
One thing I always like to add towards the end, I just think as you start to build out your real estate portfolio, this goes for anything. This goes for, you know, if you're an investor and you're buying in a certain market and you're an investor, make sure that your real estate agent understands that market, understands your objectives as an investor because your objectives as an investor are probably different than somebody who's looking for their primary home.
00:26:45:02 - 00:27:18:10
Unknown
And so and that's your world, the real estate world in my world that I work in, typically with CPAs, tax preparers, as you build out your portfolio, there's a huge difference between tax preparers and tax strategists. A tax preparer, they work at Walmart in the lobby, H&R BLOCK. You give them your W-2 information, they run it through their system.
00:27:06:10 - 00:27:34:21
Unknown
It spits out how much you owe. You write them a check and you're done. That's a tax preparer. They just input output there. Not a lot of strategy. But as you're building your portfolio, it's very important to find a CPA or a tax preparer who specializes in real estate and understands real estate, because if they're not telling you about things like cost segregation, if you're having to ask your CPA about cost segregation, there's probably other things in the tax code you're not aware of, and you're probably leaving a lot of tax dollars on the table.
00:27:35:09 - 00:27:55:18
Unknown
And so, yeah, a tax preparer excuse me, a tax strategist is a little bit more money to pay because they're giving you more of their time. They're meeting with you three or four times throughout the year asking you what you're buying, what you're selling, what your income looks like. But in this industry, whether it's a real estate agent or a tax preparer, you get what you pay for.
00:27:56:01 - 00:28:17:05
Unknown
And so, yeah, somebody might be asking for a little bit more commission upfront, but if they have the knowledge and they're saving you, you know, $100,000 on the purchase price of a property because they have the knowledge of the industry, who cares if you're paying them an extra 2000 in commission, you just saved 98,000 net. Right? So the same thing goes with tax preparers.
00:28:17:05 - 00:28:39:18
Unknown
Always find yourself a tax preparer who understands real estate because no matter what they charge, if they're good, they're going to save you tenfold that taxes on the back end. Awesome. Much down where your website is going because you guys want to learn more. Yeah it's just WW w dot cost seg authority dot com that cosc TCG authority dot com.
00:28:40:04 - 00:29:01:12
Unknown
My contact information is up there information up there on how we'll run a free analysis if you're interested. If you think you have a property that might qualify, don't hesitate to reach out you guys we, we don't bill by the hour. We're not a CPA firm. We don't do tax returns here, but we're happy to answer questions and partner with you and facilitate answer any questions we can.
00:29:01:12 - 00:29:17:16
Unknown
So again, don't hesitate to reach out to any of us. We're happy to answer any questions you may have. Appreciate you. Thank you. Folks for this. Another up. So the Real Estate Marketing Dude podcast. But you know where to find us. If you like what you heard there today, go visit a site, check them out, see what he's up to.
00:29:18:03 - 00:29:36:10
Unknown
But thank you guys for listening to another episode. If you guys are stuck figuring out a way to stay in front of your database, how to market them, how to add more value to them, and how to stop being forgotten about and cheated on by other realtors because people don't remember who the hell you are. You got to visit referral suite WW dot referral suite dot com that is wect.
00:29:36:10 - 00:29:56:14
Unknown
And yes, we will help build your brand and in for the people that matter most that are responsible for the vast majority of business. Thank you for this another episode we'll see you guys on next week's show appreciate it by boom. Thank you for watching another episode of the Real Estate Marketing Do podcast. If you need help with video or finding out what your brand is.
00:29:56:20 - 00:30:16:16
Unknown
Visit our website at WW dot Real Estate Marketing dude dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace. Thanks for watching. Another episode of the podcast will see you next at.
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Change | Embrace It and Run With It (ft. Ross Hamilton)
23 sep 2023· Real Estate Marketing Dude
Change is a scary thing and in today's market, change is here and more is coming. The question is, how will you handle it?
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