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The Number 1 LIVE STREAMING Podcast for Real Estate Agents and Entrepeneur's WORLD WIDE. With Hosts Johnny Awesome and Jimmy Fantastic every week they bring you industry breaking news, top industry leaders, and YOU. You can be a guest by emailing guest@freeforallfriday.com or call in anytime to have your question or comment answered LIVE (313) 644-4ALL
Free for All Friday
Episode 79 - Buffalo Wisdom
Are you brave enough to face the storm and discover success on the other side? Well, strap in as we tackle the real estate industry's current climate and share how a buffalo's approach to a storm can be a game-changer for agents looking to thrive in today's market. We also reveal the dangers of agent burnout and explore creative strategies for business growth by using old-school tactics like mailers and public data to leave a lasting impression.
But wait, there's more! We dive into the importance of neighborhood dominance and how agents can outgrow their fear of door knocking to unlock unexpected opportunities. You'll learn how to maximize your business potential through effective database management and building genuine relationships with your sphere. Trust us, you don't want to miss out on our experiences and wisdom that can help you conquer the real estate storm.
Lastly, we challenge you to embrace the power of database building and bless others by converting strangers into friends. Discover how we're all just two people away from knowing everyone in the world, and how leveraging this fact can skyrocket your real estate opportunities. Are you ready to turn the tables on the storm and create a thriving real estate business? Then don't miss this insightful conversation packed with valuable advice and actionable tips for navigating the real estate industry storm.
If you enjoy our content, please like, subscribe, and share. You can also catch the show LIVE @ facebook.com/freeforallfriday and make sure you stick around after for "the afterburner"
you're listening to the number one live call in podcast for real estate agents and professionals all around the world. World-class gas breaking news and you with your host, johnny awesome And Jimmy fantastic. You are on free for all Friday.
Speaker 2:Morning, good morning, good morning everybody. This is Jimmy.
Speaker 3:But it was for my creator, positive energy, a secret. My kids know me as daddy and Jimmy. Did you notice that I'm wearing a flower shirt currently?
Speaker 2:I do.
Speaker 3:You look fantastic Oh thank you I was going for awesome, but that's okay.
Speaker 2:I went purple today.
Speaker 3:I like that. You know it's you know it's really interesting how many people are into grimaces birthday this time around?
Speaker 2:I know Well, I want to get the shake. We, that's what we should do. We, we grimace shake.
Speaker 3:We should do live. If somebody wants to bring us a grimace, shake. it's currently seven If you're listening to the I guess it's too late, although I would. I would say, if you are listening to the podcast at any point in time, if you want to try out Detroit with a shake Jimmy and I are pretty much always here We will take it. Yeah, we'll always take a shake. I've always wondered what grimace tastes like.
Speaker 2:Yeah, they just melted them because he was a nice cream pop, right? I don't know why grimace was weird Big purple thing.
Speaker 3:He was always the big purple thing marketing one on one. Either way, you know it's interesting about flowers, jimmy. Even the heartiest of flowers is still delicate, and I was thinking about this yesterday. If a flower is left to grow out in the wild, what go ahead? I don't know that they're that delicate They are. Let me. Let me explain why, right Cause, watch this. Even if they were to grow out in the wild, right, they do grow in the wild. They yeah.
Speaker 3:Even if they were to, they they we call that default stage Right, they live by default state. But if they were to be under the right hand, they can bloom bigger, brighter and beautiful, more beautiful than they ever could by themselves. And, on the contrary, in the wrong hand they can wither and die. Now, like you said, well, they're hearty and anything. But if a flower falls in the crack of cement in a driveway somewhere in Detroit versus in a greenhouse, you will see definitely the differences between both the flowers, even the heartiest of them.
Speaker 2:What if it grows between?
Speaker 3:the cement crack and the sidewalk and I will shake loose the chains of mediocrity. stop out the flames of complacency and ask every person I meet, just like that flower, why have good when you can have awesome?
Speaker 2:Yeah, you know what I'm noticed on here too. What's that, jimmy? like I return to every time we turn this light on and we're in a we're on a slightly it's always on me. Yeah, We're slightly. we're in a slightly different.
Speaker 3:You literally haven't pointed to you. That's what you're right now. That's where you were focusing.
Speaker 2:Yeah, We have it on a slightly different angle right now, but no, I'm glad it's not in my face.
Speaker 3:It's always it's always in mine. It's very, very bright. Yeah, that's why I can't look directly this way at all.
Speaker 2:Right, but it's funny because I we were on a different angle and I we had a different angle for that, and that's still. it's just you. you attract the light, johnny.
Speaker 3:Absolutely So. Uh, so you know, one of the things that we wanted to talk about is we are in a very unique industry. Uh, right now, and the time you know it's, it's as much as we keep saying that the actions and what needs to happen still stays the same, and I was thinking about this while I was waiting to get in here. Good morning from California. Um, is, you told a beautiful story. I'd love for you to talk about that. I'd love to analyze this. The Buffalo versus the cow Can you talk about that, jimmy? For?
Speaker 2:sure, man, it's, uh, it was. You know. I heard it a while ago and and it resonated with me really, really well, and like the. So the difference is between a Buffalo and a cow. Right Now, they're both in the same pasture, they're both in the same field, they can share the same area, but if a storm were to roll in, cows run away from the storm right. So cows get scared of the storm and they run away from the storm. Buffalo, on the other hand, run toward the storm.
Speaker 2:Now, the amazing part about this whole thing is the storm is going to move where it's going to move anyway. It's going to go in that. It's going to go in the direction that's going to go in. The cows that are running away from are going to get caught by the storm at some point And they're going to stay in the storm longer than the Buffalo who are running toward it. Because the Buffalo are going to run toward it, run through it, and it can be on the other side. The storm is going to continue rolling that one direction. It's going to eventually catch the cows anyway And the cows are going to stay in the storm longer where the Buffalo are going to run through it and be on the clear on the other side and find the sun at some point. I think that that's so great.
Speaker 3:And, and you know, when, jimmy, when Jimmy talked about the story during our meeting, i brought up a couple of things that I think are really exciting. I brought up, you know, worse, worse than the cow or the bison or the Buffalo Buffalo thing is is the animal that stands there and doesn't even know that there is a storm happening. Yeah, and I think that this is what's happening in real estate, and there's so many people that got in the last couple of years and some of you don't understand and don't really know where we're at right now and what's happening, just like the Buffalo that ran to it. Now, some of us are stuck and we're allowing the storm to happen to us and you know, we're, we're like cows, we're running, running, running, scared.
Speaker 3:But you know, the thing is, is the senior Buffalo's, i would say they understand that on the other side of every storm is what, jimmy? The sun, because storms don't last forever, Right, and that is something that we have to keep in mind, because it's almost like I don't know if you've heard this, but you have these agents that have started and they, they don't understand the full cycle of things yet, right, and because of that, they're in this like almost depressing and nothing's ever going to happen mood and it's absolutely killing their business right now.
Speaker 2:And the funny thing is the market. It's still such a strange market and that's kind of what I talked about earlier was like the lack of inventory right, so. So I recently listed a house and I didn't even put a sign out Yeah, it's sold. I put it on Thursday, we had it accepted offer by Sunday and the sign never got delivered, so I just canceled the sign. I never even put a sign out. So To an agent that hasn't met in the business very long, they're super excited about that, right? Oh, my god, how cool is that you need to put a sign out, yeah.
Speaker 3:Yeah.
Speaker 2:I'm like no, i kind of sucked.
Speaker 3:Yeah, yes.
Speaker 2:Yeah, I couldn't advertise right like. I couldn't get my watch right right, right, and you understand that's.
Speaker 3:That's so fast That you don't have anything else Replacing that in your correct See, and that's again. This is. This is the mindset of people that have been in the business for a really long time. I'll never forget Steve Stockton saying and it always stuck with me He always used to say that closing day should be the worst day for a real estate agent the worst day and new agents have no idea Why.
Speaker 3:That is like it's exciting. You got it closed, you're getting a check finally, hooray, until you've been in the business long enough to look back and realize you just took somebody out of the pipeline. Yeah, and if you haven't put somebody back in the pipeline, then you're you're a cow.
Speaker 2:Yeah, but like for that analogy, you're right and it's it's. how many people can I keep adding into this pipeline? Right? Yeah. Yeah, you have to wake up in this business every day and and I guess it's true, and and probably every business right, and every sales business That you wake up unemployed every day, right, you know, you know, i even think back to my time at, like, foot Locker, right, like I Could sell 10 pairs of shoes today, but if I didn't go sell 10 pairs tomorrow I was in trouble.
Speaker 3:Yep, you know, so it's like, but see it's it's like take that analogy and then tomorrow The Foot Locker only has three pairs of shoes. Yeah, i only have three shoes, right, but you still have the same 10 customers.
Speaker 2:Yeah, like how screwed up with that, ben Jimmy, and that's really what we're. That's where we're at, like think about.
Speaker 3:Think about this How matter you when you show up to a restaurant like McDonald's and like their shake machines down out of mix for the day, yeah, and you know all the customers are waiting to get it right Like, and they there's nothing they do. There's nothing you can do about it. Everybody kind of gets frustrated.
Speaker 2:Yeah, and that's like you said. That's a great point. That's what we're facing right now in real. That's what we're out of. Shake Our ice cream machine is down ice cream machine is down.
Speaker 3:So what is it that you have to do in order to churn some ice cream? Look, if you work at this is. I love this analogy. If you work in a McDonald's, you're depending on a machine to do it, right, but if somebody was smart enough to have their own Restaurant, their machine goes down. Customers are asking for it, right, and they've got a line of people sitting there. If you're the business owner and you're really taking the serious, you're trying to figure out Where do I get the ice cream from? yeah, and if that means that you got to go churn some ice cream, you got to go churn some ice cream because you got people that you have to serve. You know I'm so proud of of, of This newer agent that I've been working with Getting on the phone last two weeks solid appointments.
Speaker 3:Yesterday, the first day on the phone with expires and and nail the really good lead Right out in. I can't remember somewhere, but the point is, is there's there's still business out there to be had? yeah, there's still circle prospecting the lead that she got off a circle prospecting alone. Here's people that he's flat outside. Yeah, if I get the right price, i'd sell my home here somebody that was never on the market. Right, this stuff still works. If we were to do this as an industry and the crazy part is there's still expireds is Yeah, yeah it's still expired.
Speaker 3:They're still there.
Speaker 2:Yes, a lot of them Yes it's and and and and the thing that I always liked about expireds. They've already been through the process, like they've already put their home on the market. They already understand the commissioner. They already understand that the, the, the, the showings you want to be like right open house, they get, they get it. They're just pissed off that their house didn't sell right, right.
Speaker 3:So how do you go find your own ice cream, right? how do you make that? churning ice cream is a lot harder than just having a machine do it for you. You have to put some elbow grease and work into it, and that's where we're. That's where we're getting to. And, jimmy, i've been talking about this for two years that there's a shift and the shift is happening, but it's not happening in the might, the the housing market. It's happening in the real estate market. The shift is we went from really, really easy to now you have to do work in order to get what you need to get for this year.
Speaker 3:Right, and That is that's where we're at. And again, the newer agents. It's interesting Why? why do you know the continuation of the story? Why do the Buffalo Run to the storm? because they really are trying to get to the Sun.
Speaker 2:Yeah, because they're trying to get to the other there they. They go to it because they know it's a shorter time to be in it and and the cows.
Speaker 3:They run away from it because are they just stupid? They're just scared.
Speaker 2:Oh, they're scared. They're scared of the storm so they're trying to run away from, but they end up staying in the storm longer.
Speaker 3:Well, here's the other thing that happens too. You know what else happens their cows. Right now I kind of I kind of relate to the cow, right, I bet you they get tired.
Speaker 2:Think about it. I mean, you can only. A cow can only run for so long, right, and there's constantly in the storm because they're essentially running along with it.
Speaker 3:Yeah. But here's the funny part in their little cow brain. I wonder if they're thinking to themselves because they've ran, they ran, they ran, they ran. Now They're so exhausted They can't run anymore. They're gonna have to stop and then guess what happens. The storm goes through. And I wonder if they think to themselves see, i Made it. Yeah they're sitting there exhausted and they don't have to be and they're laying on the ground and right like and then Grimace comes and they turn them into big Macs After they milk them.
Speaker 3:I'm gonna name you number one.
Speaker 2:Yeah, but they milk them for the shake Into the burger.
Speaker 3:Yeah, that's interesting.
Speaker 2:That's a really interesting, interesting thought and maybe that's why they're out ice cream.
Speaker 3:But you know, it's the same thing that we're seeing right now. Right, because of the cows, right, It's the same thing that we're seeing right now. There's, there's agents I'm talking to. They're telling me that they're completely like they're getting burned out, and it's crazy, because the reason that they're getting burned out Is it because they're spending their time doing the things that they need to do in order to get the business that they want to have. They're getting burned out because they're running through the storm and running is the activity and they're getting worn out because there's nothing Producing from that.
Speaker 2:Yeah, and it hears it. Here's the hardest thing about about business and and getting agents to understand this too is is A lead is not a client right. A lead is a lead right, and the more it's a numbers game, the more leads I can put in, the more business I'm going to eventually get. And I'm not going to get business from every lead that I get. I'm going to get business from the leads that are eventually going to do something and I want to make sure that I've that, i've that, i've captured a lot of them and put them in my pipeline and But it's it's, it's your right, that mindset of of I have to keep just adding people to this business of mine and I can't stop adding people to this business of mine. And Yes, it is a strange market right now And yes, it is hard out there and it is different right now, but It still is just the business and you, you know there are going to be agents that get out of this business.
Speaker 3:Right, because it is hard. They're gonna lay down and just wait for the farmer to come. Yeah, pick them up.
Speaker 2:Yeah, but, but like that. But they are, they're just gonna, they're gonna give up, they're gonna get out of it. They're gonna lay down, like you said, and then when that storm goes through and we get back to a market where it's easier to sell and buy, then they're gonna jump back in yep, and.
Speaker 3:And the crazy part about it all is there's gonna be the space or they don't, and they become one of those many people that we Heard of that says well, i had a real estate license once.
Speaker 2:Yeah, they'd be become a fizzball ten years from now, and they're like I had a while I'm a. I know what I'm doing, Yeah. I'm a real estate agent. I was a real estate agent. Yeah, I have my license right.
Speaker 3:You know the thing for the agents that come back and we see this happen a lot too, in fact, some of them they don't even, they don't even have. How do I? how do I put this? kindly? I'm gonna do it this way Some of the agents that they come back, they don't realize how much business. They gave up in the middle, yes, and they never gave themselves a chance to grow. And some of them, they, they just they'll even let their license laps, yeah, and then they're, and they're like, oops, this is a mistake.
Speaker 3:And then they come back, like we see these in these trends, right, we're just in a trend right now and when, when they come back, the first thing that always hurt and I and, by the way, i just want to let everybody know The line was muted, but it is, it is open and live now. So you can call us at 3136 or 4, 4255. That's 3136, 4 for all, is our free for all Friday line. But the The, the people that come back, like the message that they always have and I always listen to them because in the classes They usually have have this, at least the classes I was at they're like who has left their license laps? and what do you want to tell the class? and they always say don't do it, because then you have to go through the class all over again. Yeah, don't let your license laps. Keep it alive.
Speaker 3:At least put it in holding somewhere right, Yeah and It says and Dave, he's got a question for us What? I'm not selling a house to all 50 leads I have this month. You're not What? Yeah, why? that's weird, did I read?
Speaker 2:that right, i'm not selling a house. So I think what he's saying is he's adding 50 leads this month and he's not gonna sell a house to all 50.
Speaker 3:Yes, this is true, Although you could, you could, regular Dave, all you got to do is get some regular Joe's on the phone right, and yeah, it really, really. I mean you know that interesting, how many, how many. If you really tried, right, like, this goes back to the 90 and 90 thing. If you really tried To find one buyer, one home, for each buyer that you're currently working with, right, if you really tried doing that and went balls to the wall and just ran for it, how much damage could you do? right, right, like. I think you could really make a dent in the business, especially when you sit down.
Speaker 3:And what are some of the good old school tactics to do this? guys? You go into realercom, realercom. You go into real comp if you're on our MLS or whatever MLS system that you have, right, you search for the type of home that people are looking for in the MLS, you pull the list, you print out the public data from it right in PRD And you do a good old fashioned mailer. You match the names and addresses against phone numbers and then you call them. The crazy thing is, we used to do this back in the day and we used to get those big, thick books. Some of you guys might remember this. You were in real estate long enough to remember the big, thick phone books.
Speaker 3:You could order a city or a road and they would send you an actual book. That stuff is all online now. You can go and do that, and is that? what I just described sounds like a lot? This is the churning, the ice cream for the customers. So now you're sending a postcard out into a neighborhood where you have a client that wants to live, to all the homes that specifically match what your client wants. Then you pull a phone record for them and now you're calling them. So they're getting a card from you, a call from you, and, if you really want, you can walk the neighborhood and you just keep doing that. Right, you farm for your buyers, we farm for ourselves. Why not start farming for your buyers, right?
Speaker 2:I mean, if you have a client and I've heard this, how many times have you heard this? Oh, i got this really picky client. He's very. they're looking for a very specific home and a very specific neighborhood And that's the only place they want to go to.
Speaker 3:Yes, yes.
Speaker 2:Go find a house in that neighborhood, right, go door, knock that neighborhood, bring out the you know, bring out a flyer right Door, knock that neighborhood, doorknock that very specific subdivision Right And doorknock that subdivision and say I have a client that's ready, willing and able to buy in this neighborhood. Have you thought about selling your house? And you might find one. You know, i think I've talked about this before, but it's one of the things Jim Schaefer over in Royal Oak had talked about. He had talked about the neighborhood that doorknock had talked about.
Speaker 2:He like one of his very first clients ever. It's exactly what he did. He had a client that was looking in Pleasant Ridge and that was the only spot they were looking in. So he printed out a flyer a just a black and white flyer off the copy machine and doorknock all of Pleasant Ridge and had a ready, willing and able buyer in Pleasant Ridge. He was done doorknocking the whole neighborhood and he was getting ready to get back in his car and leave and there was two women walking down the street and he said well, i'll give it a shot. What the heck.
Speaker 2:Went and talked to him, said here's a flyer. I got somebody that's looking in the neighborhood. The woman said oh, this is fantastic, We're moving. My husband got relocated for work. We're moving. Can you come by the house tomorrow? Sure, So he goes by the house. So the buyer he had couldn't afford the house that this woman was selling, but that was his listing. He got the listing in Pleasant Ridge and that was one of how he started this whole thing.
Speaker 3:This is the craziest part about this, jimmy. This is where, like if you haven't thought about this and maybe you didn't know about this approach like this is actually a really exciting approach for where we're at today's day and time, because back in the day, when people used to do this all the time, i remember reading a magazine article and they had the owner of real remix out in a baseball cap and jeans. Back before that was something that you could do right, cause that was kind of his thing And he was door knocking. The CEO of remix was knocking on doors and they did an article about how he's out there every day still knocking on doors. The thing was back then you used to knock on doors, you'd get the listing and then you'd wait six to nine months before the thing sold.
Speaker 2:Right.
Speaker 3:Like today. You know, like if you get on the phone, like I said yesterday during this call session that I was doing with this agent, she got on the phone with somebody and even though her client was looking for a three bedroom, this didn't have as many bedrooms as the client needed. List the house. It's going.
Speaker 2:It's going to sell tomorrow.
Speaker 3:Like it's, it's, it's a, it's a, it's something that we definitely, you know, need to. again, it's the fundamental basics of churning your own ice cream and going back to why you know, and again, i get it. Like you know, jimmy, we, we talk to agents all the time and they, they they're not always all about the phone, but the door knocking thing is still a thing that you can do. Yeah, and here's the other thing about that neighborhood right, when he went out to that neighborhood, one of the things that you'll find a lot working in this business is that your client is going to end up in a home, sometimes completely far away from where they said that they wanted to be, right. So while you're door knocking and looking for those opportunities for them, opportunities for you to grow your business are going to show up. at the same aspect, you have the opportunity to not just to do it there. but what happens if you went and dominated the next neighborhood over two and specifically targeted homes that your buyer was looking for?
Speaker 2:Yeah. And when you say dominate, Johnny, what does that mean? Like percentage wise, what do I have? If I'm going to dominate a neighborhood, how much percentage do I need to sell in that neighborhood?
Speaker 3:That's a great question, that's a real great. What do you I mean? what do you think it means?
Speaker 2:I mean like if you're dominating, let's say, if I wanted to dominate.
Speaker 3:I can tell you right now it's not a high percentage That's like 8% or less Or less.
Speaker 3:Cause the average agent in any given subdivision or neighborhood. Now, that being said, there's some old school neighborhoods I know of. Like I said, i come from you know the longest standing brokerage, as that was KW in commerce and Stockton. Steve Stockton was one of the largest agents out there. He's one of the I think in Michigan he's one of the largest like undercover not undercover, but he doesn't have billboards and he doesn't have a coaching company and all that other stuff, but he makes as much money, or more money than those guys. He just does real estate And he just does real estate Right. And so there are a few areas that if you were to walk into, like everybody says no, no, this is Steve Stockton's area, right. However, it's very far, few and far between that. You're going to find not every neighborhoods like that And most neighborhoods. If you see three signs of the same person in there, they're dominating that neighborhood. Yeah Right, like they're. They're the person cause you're seeing their signs everywhere, everywhere There's three, Absolutely.
Speaker 3:And good morning Fabian, It is, it is. It is not as hard as as you think, but the work is still there in order to be able to do something like that, Right.
Speaker 2:Right, and it's. that's what I mean. It's so funny when, when you hear agents, it's good because we, we just make up excuses all the time too. You know what I mean. Like oh, i can't get into that neighborhood, that neighborhood is dominated by, so so so it's like an agent, you know. Oh, i that neighbor, that agent owns that neighborhood. They sold three houses in that neighborhood.
Speaker 3:Right, there's a thousand houses, But see that's what's funny is what we just said is is the the person? that's what we just said.
Speaker 3:Just because they sold three homes in that neighborhood doesn't mean they're the neighborhood realtor, right, right? Or that anybody would use them, or everybody would use them, right, breaking into a neighborhood and you know again what happens. Jimmy, and I know that you know this, and it's the one thing that we try to teach you guys a lot. All of this stuff is fear, right? I don't want to do the thing I know I need to do And because of that, my brain, which is very intelligent, is going to aid me in coming up with the excuse as to why I don't need to do this. In reality, the very thing that you're using as an excuse is actually the power behind the whole thing. If you have buyers right now that are actually looking for a home and you're not prospecting for your buyer on their behalf in these neighborhoods, you're missing out on a huge advantage.
Speaker 3:Yes, how many people call fizzbows and say I have a buyer for your home, i'd like to show up? and it's a complete lie. Yeah, with a capital B? Yeah, it's a complete lie. They're reading a script that says that. Right, but when you actually have Jenny who's looking for that home, utilize that. Yeah, call the house and actually say hi, i'm working with Jenny. She is looking for a home, a lot like yours. She's a real person.
Speaker 2:She's really looking And say it just like that, yes, like be like, hey, she is a real person. I do have an actual buyer.
Speaker 3:Like I get that this sounds like a sales line because we've been, you know, into my industry. Some people think it.
Speaker 2:Yeah.
Speaker 3:But yes, jenny's looking for a home. Yeah, And Jenny, i got your number, jenny. Jenny, who can I tell you Who's thinking of that?
Speaker 2:Who can I tell you? But yeah, i mean like I've done that. You know I've done deals with fizzbows, right Where I got my buyer into a fizzbow Well, not even just fizzbows, but again going back to. Because this is part of they're not on the market, correct? I have to now find something that's off market and a fizzbow is off market, right, you know? or an expired is off market, like I can find these things if I have the client that's looking in a very specific area.
Speaker 3:Now, here's the other thing, and this is why it's very, very important to understand that there is today business, but there's also tomorrow business to bank on, because, yes, you can find that off market property today to list today, but don't throw away the person that says we're probably not going to do anything for the next one or two years, because if you start to compile those, then the next one to two years you become the supplier for the entire market, right, and there are these agents out there that have figured this out that are having their best year ever this year, because they have so many people last year that told them they were going to wait till this year. They wanted to see how this thing went and when Trump finally got arrested and whatever. Whatever happened in the market.
Speaker 2:And you know when grimace came out with those shake. We build a railroad from the Atlantic to the Indian Ocean.
Speaker 3:Right, they want to, they want to wait, and so we have enough of these people. And now you'll see these agents are thriving this year because they finally have enough of them, where some of them are breaking. And then there's a whole other pool that's going to wait till next year because of XYZ reason Right, and they really do have that reason, and there's nothing that you can do to nudge them or push them off the fence, although you can try, that's OK. Now you've got this giant database of people that are going to do something nine to 16 months down the road and you become a supplier all of a sudden.
Speaker 2:Yeah, and the other thing is too. it's funny. I had a client a couple of years ago. That is funny. Tell me like I want to buy a house. They were downsizing.
Speaker 3:Yeah.
Speaker 2:And she literally said but I'm not going to get into this bidding war stuff, i'm not going to do this, we're not in that much of a hurry, i just want a downsize. Yep, okay, cool. So we said I'm a couple things, went out to look at a couple condos Bowen she really liked and we didn't get her offer, except if she, her offer, got beat out. She immediately came back after that and said that's it, i'm doing this. I want to raise my price. I'm gonna do a praise or guarantee, i'm gonna. I said whoa, whoa, whoa. What happened to not getting into this bidding war thing?
Speaker 3:right.
Speaker 2:She's like that's what happens when I lost out on the first one And it became like the thing of. She then became very super competitive and then we ended up getting her into everything She wanted. But But it started out as I'm not gonna do this bidding war thing, i'll wait, i'll have patience, i'm not gonna do anything right away, but all of a sudden, all of a sudden Oh, we're going above this, we're going above that, we're gonna do this, we're gonna do that.
Speaker 2:and I was like a hold on and I almost talked her out of like rushing into this thing, but then I didn't talk her that much out of it because You know, i wanted to sail Right you know, and that's.
Speaker 3:this is again one of the reasons why You know, here on our team Huh, that's funny on our team on our team.
Speaker 2:Yeah, I don't know.
Speaker 3:Yeah well commercial coming out soon to actually jumping into the afterburner. I'm gonna, i'm going to try. I'm trying to get set up right now to show a sneak preview of something. So if you're listening to the podcast, after the fact of it being live Again, at the end of every show we do an afterburner about 15 to 30 minutes of just randomness. That happens live every Friday. So if you join us live, you get the advantage of that and we're starting to show video snippets and stuff like that in between too, so you get a chance to see some, some other things.
Speaker 3:But you know, it's one of the reasons why I teach the hot nurture watch, because you don't know when that client's gonna flip.
Speaker 3:And one of the things that I pulled together that I showed during presentations now is The difference in how the market today.
Speaker 3:Somebody will say they want to wait, so they jump into this waiting game, and now you think you have a client That's gonna just they're just kicking tires, but all of a sudden, just like you said, they get activated one day and like, all right, it's, today is the day and it has to be. Today is the day. If you're not actively following up with them and continuing to follow That process, you are going to lose that client. You have to continue to communicate with them, because if you don't have the best rapport with them, they're gonna just go to somebody else as soon as they see that, right. Right, and for those of you that are Listen to the podcast and or you're watching live right now, if you have not seen hot nurture watch, if you've never seen that program before, feel free to reach out and get a hold of us And I can absolutely send you the slides or show you what that that process looks like. It's a system to make sure that you never lose a lead again and that you have every opportunity to convert them.
Speaker 2:Yeah and it's, i mean it's, that's the. That's the whole goal, right? we talked about top 50 lists and, and You know, adding people to your pipeline every day. And if you're not adding people to your pipeline every day, you're missing out. And that goes back to Johnny. What Johnny's talking about with the hot nurture watch Is I need to keep adding people to my pipeline every day, right, if and I like my number wise if I add You know four people a week, it's you know 16 a month.
Speaker 2:And If I add 16 people a month, over time They're gonna start closing and they're gonna start buying and they're gonna start selling. So but if I'm not adding every You know one person a day, then I'm missing out. And I I say four because you should be adding one person per day to your pipeline. And and And Wednesdays might not be good days for you, or a Thursday might just suck, or you had, you were actually busy and you were actually closing some other things and you didn't get a chance to add somebody in at that on that day. But that means you should be adding four people into your pipeline per week. 16 a month Will lead you to You know math five closings a month, something like that.
Speaker 3:Yeah, Yeah, you know, and it is. It's all about continuing to add that stuff up. And you know, again, this is, this is that whole thing about running, running towards the storm, getting through it and being on the other side. Yeah, sometimes the storm is gonna be a lot longer and and you know, this goes back to How do you weather the storm when it when it's a lot longer as well. You know, one of the things that agents don't realize that you can do and, believe me, you can do this is you.
Speaker 3:You, you ride on this wave of continually. You know you've get, you've got income, you don't have income. You've got income, you don't have income in the markets doing this and you're constantly doing this wave. You guys know that you don't have to do that. Right, you don't have to ride the wave. No, you can absolutely open up an LLC, figure out exactly what it is that you typically make per year, and then this is the hardest part that agents have have doing, right here. If, if you're used to, you know, if you average your entire income out and you realize that you could pay yourself We'll say, a $8,000, you know, base, pay yourself a six. Okay, don't forget about your taxes and live off of that until you can pay yourself taxes. Yeah, i'm 1099.
Speaker 2:I don't have to pay taxes.
Speaker 3:1099 is that's all the only taxes I have to pay.
Speaker 3:The only tax I pay is to my is to my accountant Yeah, for them to fix it, so I don't have to pay taxes. But there is a way and a system that you can put into place to make sure that you don't have to ride that wave Now in order to be able to do that and have the confidence to be able to do that again. It goes back to continually creating business for yourself While you're in this business, and I know that this is a lot and a deep topic For some people that are just getting started, or for new people, or even maybe for somebody that has been on a team before. They've never had to think about all this stuff. But these are the types of things that take you from being an agent To a business professional who owns a business, and that's what we all are.
Speaker 2:Yeah, 100% man, you know. You know what we need. I need any more coffee, okay.
Speaker 3:We'll get right on the hat, if any, if anybody is watching anybody to be in the office?
Speaker 2:close to Troy.
Speaker 3:Yeah. So Let me ask you this, jimmy. So, aside from, aside from going door, knocking, calling around, what is the? and this is a tree, i have the answer. This, like a good attorney What? what is? what is the one source that you think realtors are not currently tapping into to create their own environment I'm sorry, their own, their?
Speaker 2:own business. Yes, beside those two things.
Speaker 3:Yeah, besides actually going out there and prospecting strangers, what do you think? the one thing is that they're not prospecting right now.
Speaker 2:I know what the answer is to it It's, it's. It's the biggest swing and miss that Realtors have is their sphere what, what?
Speaker 3:no, don't go there, jimmy there's secret agents isn't that crazy still still secret agents.
Speaker 2:So you know this is. I don't want to bother my family, though, Johnny and. I don't want to bother my friends and they're at my bother. I don't want to bother them.
Speaker 3:Yes, that's, that's exactly what everybody says. But everybody says that and then it's. You know, it's interesting because I was on a coach. Go ahead.
Speaker 2:Everybody says that. Because everybody says that, and then they go my friends don't even use me. Well, did you ask that? is it that funny? Yeah, because it's easier to shift that blame on to somebody else and it is just to say, hey, you know, friends, family, i'm a real estate agent. But but then, but then we'll complain about our friends and family that don't use us Because they use another realtor, because they didn't know we're a real estate agent. But then we didn't tell them we're a real estate agent because we were afraid to tell them, because we didn't want to ask them for the business. But when they don't give us the business, we're mad because we didn't ask for the business.
Speaker 3:So I was just talking to an agent about this the other day. The two places where agents focus the most is there are the two places that aren't going to build your business for you, and it sounds different, sounds counterintuitive, but it's the truth. They focus on hot leads today that are gonna, that are dropping and falling in the lap because they need to check today, and I understand that. And then they focus on the D leads, the leads that are never gonna use them. No matter what, the leads are never gonna move. And so you hear a combination of hey, great, i have a closing today. Or they focus on well, i don't know why they wouldn't use me.
Speaker 3:They blah, blah, blah, blah, blah, and they get all upset and or, and or the You know the person pulled the contract away from them And now they're searching them a less every day to see if that person's actually so at their home, and they get infatuated With the people that aren't using them and they get hyper focused on the people are gonna do business today. Well, forgetting, the biggest pot in your business are the people are gonna do something nine to sixteen months down the road And guess where those people can come from your database Yeah, that's where they can come from And if you're confused and new to the business and don't know where your database is like that.
Speaker 2:It's right here.
Speaker 3:So how many?
Speaker 2:it's right here, it's in your hand.
Speaker 3:How many people Have you act? You know, it's what. it's funny, the amount of times that I've asked an agent how many people you have in your database and they'll tell me oh, i've got like 20, all right, how many people do you have in your phone?
Speaker 2:Oh, who's 3000? Like they instantly cringe.
Speaker 3:I have. You know there's a couple agents, yeah, but Johnny the other way do I call them?
Speaker 2:I don't.
Speaker 3:Yeah, what do I say? I don't want to bother my friends for business, yeah, and this is a mindset thing. You know, if you're not a high D now I know high D is right out there, we'll just be like we'll just do it anyway. I don't care, like bother them, but it's also a mindset thing, and this is this is how I try to position agents. Who do you think that they actually want?
Speaker 3:Let's say that they are going to do something in real estate, and you didn't know, you never asked right But let's say that they actually are going to do something in real estate. Who would you rather have handle them? Joe Schmo, that doesn't know, whoa, yeah, whoa, yeah, and and isn't going to, and he's going to do the over, listing it for the wrong price, and, like you know, 80% of the agents out there or more, they actually suck. They're not good. It's, it's true, and you know what the sad thing is is there's so many agents out there today, especially in the show or not. Those of no, they are, though. You know how I can tell you that. Let me tell you how I can tell you that, because 87% of people say that they'd work with their agent again If their agent never fricking got ahold of them, they didn't. They suck The number one complaint about real estate agents. My real estate agent never got ahold of me. You suck.
Speaker 2:Yeah.
Speaker 3:I don't know what to tell you. It's amazing, right 80, 80% of all agents out there suck at what they do. Yeah, Now you don't have to suck. And if you're one of those people, I'm sorry you suck. Stop sucking. You don't have to. That's a choice. Pick up your phone and call your fricking clients or answer your phone, or answer your phone.
Speaker 3:Yesterday I was talking to Alexis Carrera and she she has somebody for this house and you. What a disservice you're doing to a seller to just never answer a phone with somebody when you've got contracts in and everybody's waiting to see what's happening and you know the seller, and then that seller doesn't hear from the selling agent either. Right, Like man. Sorry, we got off on a tangent there, but listen, do you want that person that's going to call your client one time then put a sign in the front yard and think that they're going to do that? Or do you want or do you know that if, man, if I had that listing, this is my P, I need to take care of them.
Speaker 3:I'm going to ask all the time, Like, if I don't know the answer, I'm getting the answer because this is my family, my friend, This is somebody I'm actually going to take care of, And there's nobody better to take care of your friends and family and care for them than you, Unless you don't like your friends and family, in which case you're one of those agents I was just talking about. But listen, when you reframe it and you think about that, like why let your friends and family get in the hands of somebody who's just cares about their paycheck instead of personally cares about them And you know there's those agents and and that are good agents, but they don't ever have repeat business because they're so, because they're jerks.
Speaker 2:Let's just be honest. Right, But they get deals done, right, You're in good hands with them. They just have terrible bedside manner, right, They're not, but they're going to get that deal done and they're going to get you the best deal ever And they're going to do that for sure, right? But oh, my mom hangs out, hands out my cards all the time.
Speaker 3:Yeah, yep, there you go Jimmy's number one referral sources. mom, it is.
Speaker 2:But it's, it's so. So they don't have a lot of referral business or repeat business or referral business, but they still are a you know, $20 million producer. Well, because they, every day they grind right, You'll find is if you do this every day and you and you cultivate and you farm and you do this every day, you just start getting business And the statistics say it's year three to five. If you, if you prospect every day and treat your people right and you're a good agent, that you're three to five, that three to fifth year, that you don't have to prospect anymore, You know the I can tell you what what we have seen is.
Speaker 3:We always heard that right, it's going to take three to five years, used to take 10. If you do this and you set your business up right we're not saying it, i mean, it really is by year three, you know what I mean Yeah.
Speaker 3:Yeah, and what's crazy about this is people have started to this is starting to get even shorter for the people that have figured this out. I was talking to another agent the other day and and she's done 20 closing so far. So how many referrals have you gotten out of that? Those 20 closings? zero, well, there's an.
Speaker 2:There's an issue there Right now big problem?
Speaker 3:She isn't. she isn't an aggressive agent. Her personality type was nice. So the problem there is not asking for that business, right, your database, the people. if, if you guys have never seen the um, the accounts pyramid, it's, it's something else that we can send you. Maybe Jimmy and I will do a separate training one of these days and throw it up on free for all Friday.
Speaker 3:but the accounts pyramid, the bottom of the pyramid, is going to be that. that's going to be what feeds the rest of your pyramid all of your top 50 VIPs, all of your closings, even your whales. right, some of your CPAs think about this, one of the things that, like um, you know we have Fabian talks about this all the time to agents. you know when we went out to uh, uh, grand Rapids and when we were in front of teams, you know who are the CPAs and the attorneys and the this and that that you can get a hold of right, the big whales were the people that could hook you up with 10 transactions a year or more, right? Yeah, well, you absolutely can and should farm those people, right? You can, absolutely can and should call them randomly, but if you've built a database big enough on the bottom of your pyramid to where one of those people happens to be in that career.
Speaker 3:how much easier is it going to be to convert that person to somebody that's going to going to work with you, cause they already know you, like you and trust you. Therefore, building that bottom base I think I well, i know it's, it's how it's your foundation It is the most important thing that you absolutely can do. Go out there, meet a bunch of people. every person that you have in your phone, everybody should be in that bottom base And it goes back to um, uh, your friend there, the NFL guy, right, yeah, we're all just two people away from knowing every person in the world.
Speaker 2:Yeah, and asking Kevin what's Kevin Bacon? Kevin Bacon.
Speaker 3:I forgot about that game.
Speaker 2:The six degrees of separation from Kevin Bacon. Kevin Bacon.
Speaker 3:Yes, Oh, okay, Guys, here it is. Here, we're going to do this. We're going to do this. You just brought this up. Oh, if you're listening on the podcast account or if you're listening later, it counts for you too. Six degrees to Kevin Bacon. Okay, How can you get from grimace to Kevin Bacon and six people or less? email us. Email us at free for all Friday. Join us, uh, on the webpage or send it to us and we'll cook you up with some free for all Friday swag. In fact, new free for all Friday swag is coming out shortly The Jimmy and Johnny free for all Friday special swimsuits which people have been asking for. I, I, I will be releasing by oh, it's already Friday.
Speaker 2:It is Friday. By at least next weekend free for all Friday, Yeah. It was brought up about like uh, we had someone ask us that the other day.
Speaker 3:Well, you know when, when the underwear came out which is a real thing um, people, back way back then, i had people saying Hey, i'm heading to Florida. If you can figure out how to turn this into a bathing suit, i totally order it. Yeah, so that's happening. Uh, but yes, if you happen, if you can get grimace to Kevin Bacon, six people or less, send us an email, shoot it to us on Facebook, drop us a DM. Uh, you can find my page, by the way, now too, at John, at have awesome is on Facebook, or at the Johnny awesome on insta and everywhere else.
Speaker 2:Um, help me build that page out too, because so far Jimmy Nelson or Jimmy Nelson real estate Yeah.
Speaker 3:You're. You're two different things. It's difficult to find you, but the point is everywhere. You uh, yes, you are. Yeah. It's true, I'm not difficult, So am I. you know it's. it's funny. That's what we're going to save, that for the after bird. There is only one, johnny. Awesome though, right. Yes, there is, uh yes, grimace from McDonald's, that is correct, uh uh, dave, it's what Dave doesn't realize.
Speaker 2:it's grimaces. birthday month, right, that's. that's the whole point of this month, and it was the whole reason for me wearing purple today.
Speaker 3:Hey, ellen gave away Ellen underwear. Okay, good, i was good. I was going to say, did your mom just get it? No, she didn't. Good, um, yes, so it is grimaces birthday. So if you can figure that, great.
Speaker 3:But going back to building the bottom of your database, fill that bottom pyramid up with a whole bunch of strangers that you convert to friends and start with your friends instead of pushing them into strangers And then from there, guys it listen the thing that you're missing in. And it's a pride thing sometimes, right, you have the opportunity. You have people that know you, like you and trust you. Right now, right now, if you were to open up your phone, there is somebody in there that if you called and said, hey, i need a couple more deals coming up in the next couple of months. I really am trying to, i'm trying to be a buffalo instead of a cow, they'll laugh. Right, it's grimace month. I really want that milkshake this this year or this month, because my milkshake brings all the boys to the yard. If you were to call up your database and say that cause you can cause it's your database, they know you, somebody in there is going to want to help you. They love people love doing favors. I was talking to an agent about this the other day.
Speaker 3:You know, um, do I want to share this story? I got four minutes. Maybe I'm going to share the story. It's a personal story. Um, for those of you that know, you know, if you've listened to the podcast of my story, you, you, you've, you heard about two years of us doing the show. You know, a traumatic divorce, something I didn't want to happen, church taking my kids away, let, it was a whole bunch of crazy stuff that happened. If you don't know about that, uh, there's a podcast episode out there. I think it's called Johnny's story. You can, you can re listen to that. Yeah, but it's something the you know, the there's a lot of weird and wacky things that happen now and You know, one of the things that happened was my kids were really excited to go and hang out at this water park.
Speaker 3:We had been talking about it. I hadn't seen them in a while. They've that. You know, we're all missing each other. I try to get as much time with my boys as I absolutely can, and I Got a message the day before that stated that they were not going to be allowed to bring their bathing suits Right, and I'm like what sense does that make? like they're excited to go, it's their bathing suits. They get sent to my house with clothes. It's not like they don't get sent naked, it's just. It's just one of those things that you get to deal with when you have somebody, that's When it's something that I, it's a, it's a part of my life that I have to deal with often.
Speaker 2:Yeah, um, it's a good one.
Speaker 3:Yes, you know, well, you know it's. It goes back to, you know, morals and ethics and always staying the higher ground and it just it's. It's one of those things. So, hey, look, no issue, we're, we'll go pick up, you know, brand new bathing suits. We can do that, right? Well, there's an agent here that that we work with, that we both work with, and she absolutely loves the boys, and She slipped the $50 bill into my pocket to go get the boys bathing suits right Now.
Speaker 3:I could have said and I almost did, and because I I don't need that, i it's not a charity situation y'all. So instantly I wanted to refrain, but I forgot this one key important thing, guys, and this is important when you're talking to your people, give people the opportunity to be a blessing to you. Don't let your pride Get in the way of letting somebody else feel special because they were able to help you out. Yeah, you know, brittany wanted to be able to participate in that and when the boys called her and they were excited and they all got their own bathing suits and You know they were able to hang out at the park. That filled her with joy because she was able to. She provided that she did that right and That if I wouldn't have accepted that, i would have stopped her from being a blessing.
Speaker 3:Yeah, there are so many of you out there that are listening to this right now That are preventing the people that know you, like you, trust you and love you from being a blessing in your life, because you think that you're gonna bother them when you call and ask them Hey, could you do me a favor? I'm trying to finish this year out strong. I'm halfway through and I'm just looking for a couple more deals. Do you know anybody that's looking to buy, seller, invest in real estate?
Speaker 2:Yeah, and that's that's the favor script. Right, like that's one of the the biggest ones that I think we miss out on. Like, hey, you know, can I ask you a favor? Sure, yeah, what do you need? It's I'm looking to help. Yeah, you know X amount of families move in or out of a home this year and that's you know I've set those goals and You know I we miss out on that and we're afraid to ask for that business.
Speaker 3:And yet people are Wanting to help and then taking it a step further. Like I said, there's so many people will go straight to the phone book To the person that we don't know when we're looking for CPAs, instead of going into our current database. Hey everybody, i'm currently looking for a CPA that I might be able to do business with. There's an alarm going off here at the office. I I'm currently oh, that's, that's why I'm currently looking for a CPA that I need to do business with. Who do you know? Yeah, and you know what? sometimes, because you don't manage your database well enough, somebody's gonna go. Well, i'm one of those. Right?
Speaker 3:What do you need?
Speaker 2:Oh Guys, be the buffalo, don't be the cow right run through the storm, not away from it and definitely don't just sit there, jimmy. You've been fantastic, johnny you've been awesome and we'll talk to all of you next. Friday You.