20 Episode results for "Julie Harris"

Podcast: Big Tech (Zillow, Open Door) Attacks Buyer Agent Commissions | Tim and Julie Harris

Real Estate Coaching Radio

29:53 min | 7 months ago

Podcast: Big Tech (Zillow, Open Door) Attacks Buyer Agent Commissions | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Realistic Coaching. Radio is the nation's number one daily radio show for realtors who demand Authentic Real time coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts. Tim and Julie Hairs. Three to one and we are back Julie Welcome to Monday October nineteenth we've got a really, I think a fantastic you guys today we as I promise Julie we will keep this sinked and not a lot of vamping because there's a lot we have to cover in this article. There was an article that came out in Inman this morning, and it is talking about a lot of the things that we have been. I'm just GONNA use the word that comes to my mind. I which is warning you about with regards to. Buyer Agent Commissions and somebody has done a fantastic job researching what we are theorising on for really effectively the past three or four years. So just summarize it Julia Nice theory was that the eliciting commissions weren't the commissions or if you want to look for some sort of exterior thing or some sort of a some fearful thing to worry about with regards to real estate transactions, it wasn't gonNA come from the listing side despite the barriers is going to come from the buyer agent side because we were a theorising that there would be. The advent of technology companies that would see buyer agent commissions is being the low hanging fruit to start reducing that never really happened before always the list like red thin they'll advertise lower listing commissions and still coop the same. But Jillian I always saw that it's kind of an odd way of going about it. Why would you go about that way and the answer is obviously if you? Reduce the commission's you're GonNa have fewer showings fewer showings properties going to take longer to sell it sells at all so that sort of makes sense except if you start having a bunch of technology companies that are all lowering buyer agent commissions and at the same time and it turns out that is really what's been going on and so where inman did a great article in Manassas great articles. In this article in particular, we're just going to read it to you and we're going to comment on it and it's really important that you understand but listen to what Julian air telling you because so that You'RE GONNA go right to fear and loathing mode. We're going to tell you what the egg dote all of this is so that you know you have clear direction, you don't have to you know frankly overly emotionally react. That's right. So this part is to just get your facts straight here is what is going on. There's no question about it I love this article because it's very analytical. It absolutely proves that this is happening very consistently. So the title is the the quiet I are war on real estate commissions does the success of the IB model come at the expense of the traditional real estate structure and you can interrupt me anytime 'cause there's A, lot to this. It's a great article though it is. Okay. So let's start out for years. The traditional real estate commission structure in the US has remained relatively impervious to change buyer agent commissions the fee paid to the buyer's agent when the houses sold is the focus of Mo-, multiple class action lawsuits currently, but it turns out that the biggest threat to the traditional structure might be either buyers would have been waging a silent systematic war on buyer agent commissions he Joel's. Yes. So this is a inmates content and repurposing it from this guy named Mike Del prete there. So we have to give him credit for it. Yes del Prete or Dell. Dope and so he's the I'm going to try to give him on the podcast and Mike now listening tried to grow podcasts so we can drill down on this even more go ahead. Okay. So this research, this is great proof that this is happening. The research study looks at buyer agent commissions offered by buyers. Now, that's eleven thousand, five hundred transactions over the past two years across four of. The largest markets those are Phoenix Atlanta Rally in Dallas Carolina in Dallas, the data is sourced from the multiple listing service systems in each market, which records the buyer agent commissions offered for every home listed for sale. The data does not include transactions that occur off market like sales to reach nor to buyers it approach either directly without an agent. Okay. So those that's what this is based on. A history of cost optimization since the beginning an either buyers biggest expense has been agent commissions. So really what we're dealing with here is we're dealing with now why don't you listeners pay attention here? So what we're going to see happening in the real estate industry again, it's what we've been talking about on this podcast and we've been preparing our coaching clients for you're going just see these. These third party sort of technology companies that are now all in the real estate business or opening up brokerages zillow is now a nationwide brokerage. And here's how this is actually gonNA work. You're going to start seeing these companies start to compete for resell listings and one of the cost savings they're going to offer to consumers are going to be offering a lower co op commission, and obviously the inducement to the seller will be that ultimately, the net to the seller will be more because they'll have had to coop less, and there are also going to start reducing or at least offering to certain sellers discounted commissions. Now, when I went to all of you to understand is this has all been done before none of this is new all going back from. The beginning there's always been discounting and always been companies have come and gone that focused on basically discounted commissions, the list of brokerages that have come and gone that have dependent on depended on. Discount Commissions as long and big ones to help you sell assist two sell. There's been a lot of these companies and I'm not criticizing anything about the company. All I'm saying is the viability of essentially offering being discount broker doesn't really seem to work in the real reason. It doesn't really seem to work reasons. We're GONNA talk about here in a second but that's what these guys are modeling their following and copying an essence what has happened and tried many many times before there was a several companies actually remember this this one that came to mostly the east coast and they're drive around those little minis. Remember I forget? Remember the name of that and everyone was talking about this some British based. Brokerage and they bought all these minis for branding mini coopers you know and they're driving around obviously the cars roll stickered up and they're opening up offices and their whole deal was very similar commission cutting in essence on both sides, the transaction and they came and went, and so what happens is is that this does cause some disruption in the marketplace, but it's always pivoted back to the traditional commission structure and the reason it does isn't because consumers love paying commissions. Of course, they don't is because they're always going to seek the advice of somebody who they trust to do the real estate transaction and that's going to be of greater importance to. Them than the money and that is how people make decisions but Julie's found some more evidence from this article. Go ahead I think is more widespread than some of those other ones are. So let's read about the systematic fee compression. Open door has systematically reduced buyer's agent commissions in Phoenix its largest market over the past eighteen months in early, two, thousand and nineteen it started offering two point five percent commissions alongside three percent commissions. As literally as a test, they're running them side by side, the results must have been promising because open-door subsequently stopped offering three percent commissions in favor of an even lower two point, two, five percent starting in February twenty twenty. Okay stop well below fix average buyer agent commission of two point eight. Now again, listeners I know mudd many of you have not been in the business for more than maybe five or six years you know you haven't lived through a buyer's markets where the market you know essentially, there's more inventory than there are people that want to buy the houses. This type of deal only works when there's a sellers market because if you are listing agent and you put something out there for an average commission is less than what say for example that it is in the rest of the MLS on the buyer agent side because it's such a hot market and There's not enough inventory it's still going to sell because in this particular market that we've all been experiencing of you. This is the only market you've ever known a you don't understand that when the market pivots, what happens is commissions actually have a tendency to go up and you start seeing builders offer bonus you start seeing listing agents you know giving up their side of the commission or at least part of it to offer more of a incentive for the buyer agent to show and sell the property. That's what happens. So this stuff cannot live during a normal market. Let alone a transitioning market this market transitioning to a buyer's market. That's a fact. Now the only way this will actually really truly work is if in by work I mean the only way that buyer agent commissions will truly be reduced in a meaningful way is if everybody gets on board and starts doing in other words if the competitive pressure from essentially these guys these companies doing this if that starts to percolate into the halls of normal real estate brokerages then and then having to reduce buyer agent commissions in order to compete with these big companies then. There you're gonNA start seeing a sea change in consumer behavior. But if that doesn't happen, these are just going to be outliers and I'm going to give you the reason why I think at least for the short run these are going to be outliers, Pacelli. There's more interesting suffering to read. Yes. All right. So we're talking about how all of this is is not sporadic. They're actually planning it in all the charts matches like they're doing it all at the same time. The Trenton timing is similar in Dallas a reflection of a corporate wide initiative to reduce expenses by lowering buyer agent commissions at the same time in early, February open door began offering two point five percent commissions in place of three percent. Now, that's in Dallas in rally there's an identical trend with consistent timing the average buyers agent commissioners two point, four percent. But at the same time, February twenty, twenty, open door pushed down, it's commissions to two point two percent Atlanta is where things get interesting. Open door began offering two point seven, five percent commissions in late two, thousand, nineteen before then introducing two point five in early February twenty twenty however opened are also began testing a Super Lau one point five percent commissions in late two, thousand nineteen opened. Our appears to be testing just how low buyer's agent commission can go before it adversely affects time on the market what you just said Tim agents might be less likely to show homes that are offering lower buyer agent commissions, but they're they're. Actually testing to see how far they can drive it down back to you. Well, again, this goes to let's let's look at some overriding facs here in our opinion, Gus can listen to our past podcasts. We've done a couple of weeks ago on this some of our most listened to podcasts we've done all year. We think that the three dominant players in the real estate industry going forward will not be the dominant players that have been in the real estate industry in the past. So we. Believe wholeheartedly that it's going to be X. P. Realty it's going to be zillow. It's going to be some sort of hybrid model thing. It's GONNA come out of open door open door a what's the common element amongst all these companies they're definitely technology companies and they're definitely leading of the market with an eye buyer proposition that's Zillow is doing I'm sorry that's with the experts doing as well. So if you are not wanting to become an employee of one of these big companies and beyond staff. Essentially. Not No longer basically have control of how much money you earn you lose all the benefits of being real estate practitioner by becoming an employee in essence. Well, then what happens is that you are going to have the X. P. royalty because any XP royalty you do have an eye buyer, you personally have an eye buyer. So when you're going on listing appointments and you are competing, let's say with an eye buyer offer from zillow or open door in there'll be others probably the you're gonNA say well, guess what? I had the same exact offer. So let's go ahead and put the House for sale at normal. Commission. Normal normal weight houses are sold if the property doesn't sell after a certain amount of time, then we can use the offer from our the IB program. We have through our my brokerage, and this is you speaking in the agent that way you have a plan a and plan B.. To get the property sold in the seller can have their cake and eat it too. That's how you kick these companies butts listeners. As you and you have to do it you do. It is not speculation. No this is happening and this inman article proves it up one side. That's right this research project. You know that has the facts zillow. Open doors. So open doors not alone in its drive to push down by Agent Commission Zillow has the same financial incentive as also been lowering. Offering lower commissions over in its biggest markets in Phoenix for example, zillow matched open door and began offering two point two five percent buyer's agent commissions in mid twenty, twenty, a significant reduction from the full three per cent offered pre cove it at the same time July twenty twenty zillow dropped by our agents to two and a half percent in Atlanta. The evidence suggests that like open door, this was a coordinated effort affecting multiple markets simultaneously, and in this article, the charge proved that because the timing is identical in all these markets. In comparison to open doors, Zillow is both later to the party and less aggressive in its testing. Open door began reducing buyer agent commissions in April of two, thousand, nineteen zillow waited until July, twenty twenty according to a zillow spokesperson agents case. We can't read the whole thing because you know we're going to run out of time for exactly. But the point is that that's the end of their article right there the shirts and the timing and the reduction, the systematic reduction, and I think the most radical one being in in Atlanta they're actually trying out one and a half percent. It all matches up, right. So it's not just a transaction at a time seeing how it will happen. So so again, if you're running to not just survive but thrive in the new market that's going to be coming our way with regards to brokerage industry specifically you sure as heck better have your own eye buyer widget in your toolbox from you're going to meet with the sellers. There are at the very least you have to assume that every single seller, you're GonNa Stumble across even your your best friend from high school in your mom and your aunt who you thought for sure. You're going to get their listing without even blinking well, they're going. To. Have probably popped on one of these sites and got into the cash offer and have an idea of what they might want to sell the house for, and if you roll in there and they're perceiving that you know it's GonNa be a big hassle listing the house to the traditional way they're probably going to be induced to take the offer. The IB are all cash offer and not have to screw around the whole process. That convenience fee is the discount that they're willing to accept. That's right and so your answer, your objection handler really when the seller says, you know where's my instant offer can be I'm sorry that we don't do that. Tells you, and if you WANNA list with me right and you can't have that answer you have to say it would be my pleasure to bring you an offer today and we're keeping guys. This is not you doing the offer this is the investors that come through the. Piece I buy. You keeps you say investors a confuses them. Okay. Sorry. My point is that this is not like a guaranteed home where no purchasing it them to be clear. So when you become the X. P. Agent, you can actually use XP will give you access to their exclusive I- buyer platform, and then when you walk into that sellers houses, Julia was just describing if they're interested in I by offer or frankly the way I would do if Julian, are still listening houses I already have the buyer offer in my suitcase ready to give my briefcase ready to give to them so that if that comes up as an objection handler. Objection. You can handle it immediately by simply handing them your I by our offer but still even then listeners the the widgets going to be show them the net from the buyer show them net from listing in house selling the house traditionally through you. Now Through XP's IB program remember I told you this. You still get paid commissions when you sell the house, the buyer and you get the listing when the house gets flipped so you keep the Listing. So you absolutely positively must be pursuing this as an option in this is a perfect time of year for you. It's called express offer Serie XP. Thank you for pointing that up. I've forgotten. Yes. You absolutely must be looking into that in joining XP and having that tool and your side if you want to discuss being part of Julian is the XP team please do text me directly at five, one, two, seven, five, eight, oh two Oh, six. One two, seven, five, eight, Oh two, oh, six, and let's talk about ESP. and. So here's another interesting thought as I was looking at that website Julie if IRA in real estate and Jillian are selling real estate and I had I was an express offers agent with the XP. That would be one heck of a nice little marketing campaign if you want to call that's. Site I think. Yeah, maybe well, so that would be a very, very bad. Here's the thing zillow and open door they're not buying everything, but they are making the phone ring. Okay. So you're pivoting the up perfectly there. So here's the here's the reason why this is going to be a tool in your toolbox, and this isn't going to change the way that houses are sold. Our houses are listed sold because of the discount, right because of the convenience be whatever they want to call it. So for every ten leads that they generate being say open door in Zillow, how many people are actually going to want to sell their house at a discount in a cellar and a seller's? Market in particular this market very, very few the reality of it is very few but how many of those say if they generate ten, maybe one decides to take the offer it's probably less than one. Those are expensive leads degenerate. Now, what happens to the other leads perspective sellers that they generated those leads I know that they're kind of denying this, but you have to assume they're not telling you the truth they're being disingenuous to say the least but those leads are then going to be they're going to try to convert those to resell leads and give to their brokerage agents remember zillow an open door. These companies are all trying to have national brokerages, and so they're going to generate these resell leads the people that would have expressed interest had expressed interest in selling the house at a discount. They declined the offer for whatever reason those leaser then going to be chased by those particular agents to actually obviously try to pursue their in-house agents to resell listings going to like for example, the we buy ugly houses. Franchise. Their licensed holders you gotta go to. Yeah. So Joey's off to premier coaching. Make sure if you're in Premier Coaching, attend the Premier Coaching session live. So Julie Thank you for today So if you are in this particular situation and like say for example, it was the biography houses thing I think those guys were selling licenses to territories and we would we had. Coaching clients who owned those licenses and the essence of it was is we buy ugly houses would market and advertise soon to generate wholesale house leads us you guys all these in some markets on billboards and you saw people put these little signs up in intersections and street corners and all that stuff. That's what that was. It was marketing for House for obviously seller leads. Now most of the people that were doing the marketing were just flippers they were just looking for houses to flip. So one of the things we coach our clients to do is go to the we buy ugly houses, guys whoever was the owner in that particular in their particular area and ask them what they were doing with the leads that they were generating that the sellers were declining the wholesale offer and the sellers just decided to go in a different direction. In many cases we found that does we buy ugly houses guys weren't doing anything with those leads they were just throwing them the trash can. So the agents then would cozy up to these. Flipper guys basically and then they would. Try to get the listing leaves, and if they listened when other properties assuming the flipper guy had a real estate license, then they'd pay Murphy. That's the way it worked. This is just an iteration of what's been going on forever. That's what I'm trying to impress upon all of you guys some of you who don't have the depth and breadth of experience in real estate. You get very emotional excited by these different changes that are happening you become fearful changes happening but the bottom line. Is these changes, these ideas, none of them are new, the people implementing them are new the amount of money behind them I say we could agree that's new I mean you have a twenty billion dollar company called Zillow this deciding to press this as their leading us. That's all fine saw good. That works but you can do the same thing. If you're with the X. P. You can you can have the exact same tools that they have you can compete you don't have to be fearful. You don't have to be worried about the reduction buyer agent commissions, either the answer to that is always going to be a listing agent. So we'll we see buyer agent commission under pressure into the new year. Of course, we will, and that's what we've been seeing that for years. But does it make sense that these tech companies are going to try to squeeze every little? You know the basis point out of every transaction since they're losing. So much money and does it make sense are going to go after the buyer agent commission? Of course they will but it doesn't mean that you can't compete. Of course you can. You're just going to have to have a different set of tools in your toolbox and most importantly the tools in your toolbox you're GonNa have to know how to use. Okay. So stop the fear and loathing of the changes and brace them become part of them. And then stay close guys because we're going to give you leading edge information not just about what's happening but what you can do to react to what's happening in anticipate what's going to happen next and I'm in our opinion what's going to happen next is this is going to be something that consumers are going to be curious they're going to embrace in some markets but for the most part, it's always going to be an outlier homes will never just uniformly start being a wholesaled because it's too much money many sellers are going to need. Every ounce of their equity in order to purchase their next property are they're going to will you be required to have more skills in order to justify your commission to the sellers? Absolutely. Will you again will you have to have more tools? Yes you will, and if you're with a brokerage now who's basically trying to do everything the way it's been done for the past forever. Good luck. There's no room for companies like that. Anymore you know it's I hate using this example, but it's so obvious. After myself. Some of you don't even know what I'm talking about when I say this, but you remember blockbusters do you remember those? You'd go to a videotape store and you'd run a videotape you walk into a store. You'd walk around the store you'd look for a videotape you wanted to rent or a DVD that you wanted to write you up to register. To the racist right well, nowadays, you stream same thing's going to start happening. So you need to think about don't be the guy that owned the blockbuster don't be the guy that owned the real estate where the block buster leasing from don't be part of any of that level thinking because what's going to happen is you're going to find yourself what with failed business with a failed investment and you're gonNA wonder what the heck happened in the what the heck happened part was is it would convince yourself that you didn't have. To be part of the change you convinced yourself that you could just wait it out. Maybe you thought maybe in your town that'll never happen until it does and even in the smallest towns are there any more places where you can rent DVD's or there anymore blockbusters? There aren't they're all gone and the same thing that's going to happen with traditional real estate of course, it is because of the fact that essentially all the rules have changed especially in this last twelve months in the last twelve months because of the pandemic. L. Listen the Pike Castellina I did yesterday I don't want to talk about the points we talked about yesterday but we're seeing so many changes from consumer expectations to of where they're gonNA live how they're gonNA live types of housing they're gonNA want. The expectations businesses have on their employees. Obviously, remote works going to become a thing. Now you're seeing the what is it called Star Net that low orbit satellite network that you on musk has been sort of secretly launching. It's going to make it. So the Internet's going to be available in even the most rural of rural areas, which is going to open up those markets to remote work where people can move out of these expensive cities and they can move to wherever right? That's what's going to happen. All of this is going to increase is going to pick up momentum even with like I read an article this morning this is fascinating. Get this guy's the the. Used cars are now selling for more often than I replacement news. Because, there's no new cars in the lots because of Cova cars weren't getting made. So because there's a shortage of cars that you're seeing the used car prices sell for the as essentially close to their original asking price and we're talking about two or three year old cars than they had any time in the last fifty years. So you're talking about zero depreciation on cars right now because there's not enough new cars that got made in consumer demand has increased because of Covid for cars now would you stay with me? On this one, how does that make sense people been home not been going to work because people do not want to take mass transportation anymore so people who would have otherwise been writing buses and whatnot are now choosing to drive, and so you're seeing all these sort of unintended consequences of a virus who had guest. Any of those things that I just said were true when you think about what we're talking about with regards to real estate and where the opportunities are to be. Do you see how there's all these little? Unintended ripples to happen when you drop the the public upon you can't naturally predict. But what you can predict what's working well, now it's probably going to work tax twenty x better into the future, and that's going to be the types of things that we've been sharing with you on this podcast but understand no matter what caring competent and most importantly, skilled agents are always going to be at the center of a real estate transaction if the big tech companies could. Mediate agents they would have done it a long time ago, and they're not only couldn't, but they can't, and they're not even trying. Now what they are doing is they're getting into our business. So they've been trying to us out essentially disintermediated agents, removed commissions, remove brokers, remove all that and their minds they should have essentially replaced the entire rotate. and. That was what obviously they were moving to do everyone denied it forever villa's never going to become a real estate broker. This is never going to happen that's never going to happen. But if you had any business sense whatsoever, it was obvious. That's what was going to happen because they were always moving and they had to move to you know essentially expand businesses can't stay static they have to always grow, and if you see like, for example, zillow's business model, which is in essence just selling leads some other revenue streams well, of course, they were going to have to progress. Further down the rabbit hole and get into the brokerage business. It was obvious to everyone except zillow deniers and this is happening across the board. But why did why zillow been successful Zola's been successful because they implemented something better than other people dead and we'll zillow and open door and you know probably other companies to will they implement things that will be what consumers want they have proven their ability to do just that and when you see x. p.. E.. P.. Royalty is the only real estate brokerage that is essentially advocating is a real estate brokerage for agents primarily right? e-experienced. The agents customer not buyers and sellers as their customer buyers and sellers. Your Customer E. X. P. is a true agent centric agent or brokerage and overused term to be sure but it's absolutely true and I want to say that again, e xps's you real estate agent says their customer and they see and you are your customers are the buyers and sellers get the difference whereas what these other companies are doing is they're seeing the consumers as their company is their customer and you're just their employees I'd rather work for a company. If I'm going to sell real estate, the sees me. As their customer not just sees me as the gear in the machine and I think you can agree when you look at the XP business model, the fact that it's the fastest growing brokerage in the history of brokerages that there's tens of thousands and soon hundreds of thousands of agents around the world that are green without philosophy. Pure genius. So take us seriously hard look at it. If you talk to me about being are XP group text me directly at five, one, two, seven, five, eight, Oh, two, oh, six, and the meantime do not fear the changes do not be fearful that there. Will never there'll be a time when all of a sudden people don't need carrying competent skilled agents that will never happen. If it could've it would've it won't in just the exact opposite's going to happen skilled competence carrying agents are going to make more money because of all the extra noise and the channel because people are going to be confused because there's going to be more real estate transactions happening right this is the reality of what's actually happening. This is the reason that much big money is getting into the industry because they realize that real estate is frankly always was always will. Be One of the best industries to be involved in in for the bottom line reason why is because everybody loves state seems but most importantly, everyone has to live forever unless you're homeless right unfortunately, that's true. But if you have to rent, you have to buy, you have to live someplace you have to sell these these things happen no matter who the president is, what interest rates are. So please do not overly emotionally react to changes, put them in context understand how you could implement whatever the implication is from that change into your own business and adapt. That's not so hard to do. But. Make sure you're in a brokerage GONNA support Essentially, adapting to whatever the new market demands of you in the meantime you guys need is for anything always text me directly at five, one, two, seven, five, eight, Oh, two, oh, six, five, one, two, seven, five, eight, Oh, two. Oh, six, you have a fantastic day and Julia and I will talk with you on the show tomorrow. This program has been a presentation by Tim and Julie Harris Real Estate. Coaching for more information on three will state coaching training programs visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

zillow Julie Tim Phoenix Dallas Julie Harris Julian Jillian Atlanta
Podcast: Direct Mail, Social Networking, Teams, Branding...Worth It Or Waste Of Money? (Real Truth) | Tim and Julie Harris

Real Estate Coaching Radio

44:10 min | 6 months ago

Podcast: Direct Mail, Social Networking, Teams, Branding...Worth It Or Waste Of Money? (Real Truth) | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Real. Estate. Coaching radio is the nation's number one daily radio show for realtors who demand authentic. Real. Time, coaching. Get. Ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie. Hairs. Three two one. All right Julie back. It is October twenty seventh and I have to say the interview that went live yesterday with Mr Branko has been a huge homerun. Downloading it and sharing it and tweeting it and yeah twittering it and I don't even know what other things that are doing it. But the point is is that it's a great podcast. If you guys didn't listen to that one, it's two hours, four minutes or two hours, six minutes it was the longest. PODCAST that we've ever done. But people just loving the fact that we went in depth talking about really what it means to create long term success in real estate in life in general. And Yeah you guys really have to listen to it. So it's on obviously I tuned stitcher. It's everywhere where you normally listen to podcasts and all of our podcasts all. Three thousand of them or something are available on our main website Tim and Julie Harris Dot, com, I know on. spotify and whatnot there's only maybe three hundred or most recent podcasts. There's thousands of other podcasts. If you go to our main website, Tim Enjoy Harris Dot com with. Specifies. Audible and were available everywhere. Basically, they will only allow us those of you thinking about doing podcast only basically allow maybe one hundred to three hundred of your shows to appear after that they archiving people can't download them anymore. But if you want our oldest oldest ones and old interviews, we've done by old I mean, maybe there are a couple of years old but we've interviewed some of our top coaching clients were awesome. The top real estate agents in the nation. So yeah, just go deep dive into that I get an occasional email or text from somebody saying that they essentially they're doing you know there are essentially listening to hours of our podcast trying to get their mindset and mostly. business approach head screwed on straight and I appreciate that and we're always here to help you guys and remember if you are not yet a member of our free coaching program, you can do. So by simply texting the word survival, two, three, one, nine, nine, six, text, the word survival, two, three, one, nine six, and you'll be texted back awake where you can just click the link and Join Our free coaching program or did the things in the free coaching program. That, you're definitely going to get on immediately the real estate treasure map that's your fill in the blank business plan. Obviously, this is the perfect time of year to be doing. Don't wait until next year to do it. Now, this is not just some wimpy but business plan where you take what you did last and you had ten units or whatever. This is actually a very I think could be very introspective deep dive into your personal and financial situation. And helps you set specific attainable goals. A dream is a goals, a dream with an action plan, and that's what the real estate treasure map is. So just that's one of the many things you get is part of the Free Coaching Program in addition to that, you get a Free Daily Semi private coaching call. So just go ahead and text the word survival two, three one. Nine nine six obviously based on that survival word. You can tell we started this back on the pandemic but we're going to keep offering the free coaching program. So just go ahead and text the word survivable, two, three, thousand, nine, hundred, ninety, six, and the other thing I after the Brent interview had a lot of people asking about XP Realty Brent is a superstar XP. And we talk quite a bit yesterday about the XP royalty so. If you have any questions if you WANNA get started on your maybe I imagine most of you already know about xp, royalty and the reason it's so many literally tens of thousands of agents joining if you're waiting to learn more about that and we've made it super simple for you you just have to guess what text the word e. x. p. just those three letters to three, one, nine, six, text, ESPN, two, three, one, nine, nine, six, and when you do we're going to text you back a eleven the deal that basically goes through and explains everything about xp that is the perfect way for you to take your interest in expert to the next level. And just be part of what is definitely working out to be one of the. Global Movement for real estate agents in particular joining e-experienced text at E. X. P. Two, three, one, nine, nine, six. So Julie Welcome today's podcast. Yes. Absolutely and I was just turned it I did you wanna use that email in the podcasters saved? No, I saved it because I wanted to read it trying to figure out where that is I don't know that to five. Oh I think. That's I think it's in Michigan Okay I. Think it is I'm guessing well. So there's an email while may answer your question where the heck is that that's what I'm trying to figure. We need to fire up the Google machine and find out where all these strange places are because we may be answering your questions. So we gotta here's the an email and then I'll let just do where that is because now that I'm looking at I don't know where that is. That's pretty sure. States. Yes. Hi Tim guys, are you guys have a great podcasts? Lots of Great Info. Thank you for the truth that we don't need social media and phone and phone prospecting still works today I'm curious of your take on consistent Pied Postcard mailing. To a farm generate business. All right. So I'm going to break down what where is it? Oh British Columbia okay. So Canadian listeners so thank you Terry. So let me first of all go through a couple of your questions. First of all, we are not. Let's just talk about social media for social media has a place in your real estate business, but it is not the primary thing that you should be focusing on in your real estate business building brand and doing all the things that you're being told a should be the big rocks you put it in the jar. As you know, the first big rocks that is not the way you builder long-term sustainable, real estate business social media is something that you might want to engage with. After you've learned how to proactively generate run a profitable real estate business if you want to know how to make it. So. Your real estate career doesn't last but maybe eighteen months than do things in the wrong order and do the social media first and then you know all the videos and whatnot and never actually learn how to proactively lead, generate or build a profitable real estate business, and you'll quickly discover that you're not going to be in the business for long and I I. Think I have enough evidence now to prove the fact that the average time that an agent is in business now is less than it was before two thousand and probably five in other words, agents were able to stay in the business longer. Then, they are now because what's happened now there's just a obviously an enormous industry that's. Crept into the real estate industry it's selling agents easy button ideas, and they're making billions and billions of dollars per year off agents I'm sure zillow being the obvious one and if agents aren't looking at their business as a business and running their decision making. Through a set of filters it's designed to. Help people make money. They're not going to help many people and they're certainly not gonNA make any money. So as far as social media goes, it does have a place we engage in social media with our coaching business, but it's not something that we really rely upon for any sort of you know you could say, however you WanNa to say about. Engagement all those types of words. But at the end of the day, our main outreach for all of you guys are all of our coaching clients that essentially let other agents know about us, and of course, this podcast and things like that social media someplace where we share those stories but we don't expect social media to actually generate any significant business, and even if it did the cost to generate business would essentially zero out the the financial benefit of doing it. In other words, we would have no profit because we spent all the money to generate the business in the first place, and that's the same thing happens with real estate agents so as far as We'll get to that you're talking about, I sneeze. Okay. So the next part of tears email is I'm curious about your take on doing consistent postcard mailing to a farm to generate business. Now, kind of Thi this up for you as well. The two different types of farms there's like your center of influence past client farm with quotes around it, and then there's a geographic farm so maybe you can speak to those well. So at the end of the day, the geographic farming, it does work if the market conditions are essentially perfect and by that. We mean. You have to be in an area that has to have a relatively high turnover, maybe seven years or less. You have to be an area that's not saturated with other people doing geographic male. Okay. Stop right there for a second because those are two very critical points that agents never ever ever ever think about. Well, how do they choose a farm? They say I want to have a pretty good average sale price or I WANNA go upmarket I'm going to choose a luxury high end market. And that's it. They never asked the question of like do people actually ever move there right? You Know We have had coaching clients who have I'm thinking Michael Robin Gordon. For example, they're the number one agents in the main line they do they're going to do about two, hundred, million in volume this year and one of their main now they've been doing direct mail for I. Started Coaching Them. Probably they're one of our original coaching clients this goes back. It's in Philadelphia and this goes back decades. Right. So they're one of our original coaching clients. We think I had my first coaching call with Michael Probably in one thousand, nine, hundred, ninety, nine or something my saying that right? I. Think you're right. I think you're right I have to think about that. It's like I think about that right but the point is is that they've always mailed to this geographic area in the main line. So they have decades worth of saturation well saturation, and then there's over saturation. So let's talk about the difference. So people in the main line there postcards, they spent a lot of money. On them, they're very beautifully designed about the best stuck you could possibly imagine. So for them, it worked what happened was a competitor's start to creep in and started to copy their marketing. So every year they'd have to update their designs they'd have to essentially change the messaging they'd have to do all the stuff, but to this day the postcard or something they consistently do. And they have some pretty clear in some good tracking to prove that they're actually getting business from it. Now, if they were to stop doing the postcards, would it make a? Would it have a bad effect on their business considering the fact they've got all these? Essentially this long track record of doing direct mail postcard in I'm sorry of having been successful listing agents market would anyone really noticed the postcard stopped showing up in the mailbox probably not so do they have to keep doing it probably not because of the fact again that they've earned their business at this point but keeping that in mind do look for if you're going to do a direct mail postcard area look for an area that has got good turnover and look for an area where it's not over oversaturated with other people doing male mailers, which is often the case in a lot of the markets anytime you're in a seller's market like what we've been forever. Agents are going to spend their money on just about anything. So finding a market that's not oversaturated with people doing direct mail is going to be very, very difficult. I would this that the postcards will not work if you just do them when you feel like it or it happens to be in your budget, sending out a random one or two postcards, every ninety days, and then the next one goes out six months later, absolutely will not work never know who you are what you do he total wasted then. So this is the reason we kind of steer you guys away from this as one of the first things you think about when you're creating your lead generation wheel, it's the analogy that we came up with forever ago where spokes on. The wheel. So the spokes you put on your wheel, a wheel without spokes, it's not a very strong wheel and what most agents will do is they'll build this wheel. Their lead generation spokes will be very essentially fragile spokes. So one of the spokes that almost every agent should put on the wheel I the same time it cannot be your only spoke is going to be your centers of influence and past clients, and if you put that on your wheel at first, and then that's all you do. You're not ever going to have consistent business for a whole host two reasons most. Is One hundred percent dependent on something that you can't depend on discern influence a past clients. You can't predictably say how many transactions you're going to get from that every year because it's passive, you're not proactively going after the business now should you a because of that? Is that something not worth doing? No of course not we tell everyone of our coaching clients have that be there I spoke, but it cannot be their only spoke cannot be your only source. Of Business, you have to have your other spokesman proactive lead generation. So here's what you'll discover your listener. Advice. You're going to buy our book Harris Roles you're going to become a coaching client. We're GONNA teach you very. You know essentially cost effective ways to build your centers been influence and past client list. Should you mail them? You can. But what you should really do is call them and we give you scripts for calling them and we want you to call. Your sense of influence and past clients every single month and yes, you can leave voicemails, but we do want you to call them. Calling is more important. Now, because everything in life has become passive postcards, all these things you're talking about Terry postcards, your social networking, all the stuff is passive. It'll never be as effective as picking up the phone which I can tell by what you said you understand that and whenever it when all your competitors are doing passive stuff. It you should be you know operate the exact in the exact opposite direction. If the masses of agents are doing social networking videos and direct mail don't do it. Do what they're not doing, which is picking up the phone and doing the real work and you'll find you'll get your your own. UNBEAR- share of transactions because of the fact that you're doing what nobody else is doing and it's not oversaturated in other words they're not getting so many calls from agents. Essentially. Centers of influence and past client hunting agents. Let's say they're not getting ten calls from agents that are using our scripts and whatnot because most agents are going to be you know essentially they're going to be lazy. They're not GONNA want to pick up the phone and. That's the essence of it. So, do what other people won't do, and you'll have what other people won't have. So I do we cover her question? Yes. So now, this plays right into my next topic right off of coaching calls, right. So talking about your client, your center of influence, your own database, right and we do a lot of coaching about that. Starting with all you guys want to know what the right crm is. The right crm is the one that you know how to use that you actually use period. Basically, all does the same thing don't get stuck on that bottom line have database. Let's just. Assume that they've got one. Well, let me let me add got just slightly sure the problem with the CRM says they've gotten so expensive if you ask me what crm you should use obviously what Julie said but really at the end of the day, like if you're with the XP royalty, they give you a great crm most crm's are way too expensive in way too complicated and their predicated on the idea that you're spending way too much money buying leads. And that's how they built their systems. If you do not want to spend any money in your in the middle of nowhere in the World Xp has not yet opened an office you know and you don't get a free crm in essence you don't really need a fancy crm all you really need something that's to manage your centers of influence impasse client less which you could use free software that comes on your desktop computer. For example, you can use all kinds of different things you don't don't be suckered into believing the job one when you get a real estate license is to all of a sudden by an expensive crm. The way people always said that get. CRM CRM and so why do I need a crm to manage your senators have influenced the past clients? Okay. Well, again, you can do that any software but again, mostly softwares are serums are designed to do is full you into believing that you need to start dripping on people right? You need to build out an email campaign. To start dripping on your, you know your sense of influence impasse clients. You need to do all that. All that stuff is proven to not work and essence. Basically, it's a complete waste of money and time. So be really really careful when you're making decisions what to spend money and your time that you don't get suckered into something just because you weren't making. SMART business decisions. In essence I mean you could use a Jamal contacts you could even use an excel spreadsheet really really what you want is a way to keep all of your email addresses, your names, your phone numbers, and basic data street beyond that. If you're spending a ton of money on it, you are buying a bunch of crap that you're not going to use anyway. So I don't want to name company names, but they do you know twenty different actions that you'll never you'll never need and you'll never figure it out, and then you'll end up canceling and going back to what we just said as far as far as like. Software to manage your transactions, there's any brokers around anymore that don't require that you use one of the institutional software programs, dot loop or something like that. So that's a totally separate conversation but as far as a fancy serum, honestly guys, you don't need it and you never will really needed if you're running a really profitable business the only time again and went to really emphasize see you guys see how this is basically a bottomless money pit for you when you start. Buying leads than you need a crm to track your leads. Then you need to build drip campaigns. Then you spend more money doing all this mickey mouse that really at the end of the day is highly ineffective in passive and passive in extremely expensive. That's the reason that when you're building the spokesman, your lead generation wheel, we want you to do the aside from the center of influence one we want you to the proactive spoke I'm sorry. Yeah. The proactively generation spokesperson. And that's where you learn how to actually pick up the phone and generate your own business. After you've learned how to and you've mastered proactively generation. If you want to start doing the passive stuff, go for it. But what you're quickly discover is that you don't need to the passive stuff and when somebody tries to sucker you into doing the passive stuff, you're immediately going to you know you're you're going to know it's goofy and you're going to know that you don't have to buy business. You know you're going to know that you do not have to be dependent on someone trying to sell you the opportunity to maybe hopefully one day closer transaction because you can proactively generate. Frankly listing leads every single day of the week any any market, any market conditions any interest rate? No matter who the president is. That's what we want you to have. That's called freedom that's called independence that's called being a business owner. Yes and related to that. The way is when you ask grizzled veterans, you know people that have been doing this forever they've got thousands of transactions under there about what would you have done differently they never say more marketing advertising ever. They never say they never seen more branding. They always say basically the will say i. wish it would take better care of mice. There's been fluence and past clients and they always say I wish I would have drilled down to help myself to you know minimum standards that were all geared essentially designed around listing to lead generation. That's what they would've told you those two things because that's what ultimately going to create the very profitable business for you. Because neither one of those things cost any money they do require skill they do require effort they do require you doing what you don't want to do when you don't want to do at the highest level but the payoff for that is really guys. It could be millions of dollars for you. If you stay focused on learning the skills and don't be suckered into people saying, Hey, you could buy basically. I generate five thousand. FACEBOOK leads. THOUSAND DOLLAR AD isn't this amazing and if you don't know any better you're going to go oh, really that sounds amazing but here's the answer a big. Who cares you know you're going to have a bunch of certain of. Exactly, why don't we focus on not just deals not just dollar-buying but profit this industry needs to pivot and focus on what really matters. So agents then can start building essentially businesses that are worth having in lives that are worth living. Yes. Absolutely. I'm going to probably save my other topic until tomorrow what I will do little prequel for it go for. So also related to this whole talk to your past clients and center of influence more this came up on several coaching calls already today there is a an increasing frustration about lack of inventory and I know you've checked some of the markets that we look in this morning. And there's like nothing available in some if you are reliant solely on your mls. Okay. So here's the thing I had this conversation with some very experienced. Both of them are brokers. Okay. They if every partnered together in. Austin. Okay both these ladies do tremendous deals you don't you don't want to say the French names they but they do take good care of their class at my point is that these are not newbies these are not just like wandering right now. Eight. Hapless not their experience. Okay. Here's the thing in Austin. There is right around a one month supply. So seriously low right and the issue that they're having and it's not just them. Of My other calls were just like this and I'm sure you've had some to. Then we hear about it on Premier coaching is worse is that Here's. It's kind of like a self fulfilling lack of inventory people say to you I would move. But where am I going to I would love to cash out massive equity right now. But where am I going to? Okay. So you have to be better at not just using them less tomorrow's podcast. We're going to talk about getting out of just the MLS. So I said to these ladies if you got licensed yesterday and I was your broker and your coach and I said. When you asked me how do I find inventory I? said there are thirteen different methods and you must do all of them. Right you wouldn't think it was weird. So the ages that are complaining about not being able to find homes for sale are only looking in the mls they don't act frankly they're doing a disservice, not just themselves in their family for not making any money, but for their clients and Julie's after Premier coaching. So Julie Thank you for the podcast today. Have a great. Premier coaching session. So yeah, that's it. So tomorrow we're going to talk about the thirteen different ways actually probably more than that now that you can find inventory and these are not off market pocket listing stuff like that. These are just all the different sources of frankly a lot of this is the same stuff we teach you guys when you're learning how to practically Lee generate. We show you how to go after these these sources. Well so guys here's the thing. I want you to really carry away from today's. I really from all of our. podcast this year forever, and even our book and everything we do. If you guys ever want to be truly free free in the sense that you don't have to necessarily worry about money anymore and Julian I in our book, we talk about the fact that would everyone really wants it in their heart and their saw is they wanna feel that sense of freedom well, real estate can give you that sense of freedom if you choose if you frankly make the right decisions and by freedom, what I'm specifically meaning is freedom from ever having to worry about money you. So the burden of having to worry about money. Is So. Present omnipresent in our lives that we don't realize what a burden it is until it's not really there anymore. Once you've been able to essentially create for yourself passive income. So you no longer have to actually worry about money I want you to allow yourself to feel the feeling avoid. It would feel like and some of your already here experiencing this so I mean you understand what I'm saying. But just try to meditate are trying to close your eyes try to just think about what would it feel like if you woke up this morning, you know that you have things to do you know you have people going to help you have things look forward to you get all those good things. But one of the things there is no longer part of your life is having to worry about money having to think about money. You don't have to think about house payments or utility bills or college tuition medical bills or taxes, or basically the income that you have coming in more than covers all your personal business and even everything you've ever WanNa do in life that level of income you can create that in real estate if you're smart and if you don't spend all of what would have been your profit on Trotskyists, things that will never create any sort of. Return on investment for you you're going to have to really really become a somebody this seriously drilled down and I think guys I don't WanNa say skeptical but you at least got to make it so that when you're making decisions with regards to who you're going to align with, you know as a broker buying. All these things you guys do you've got to start being very rigid on who you're GONNA listen to you're not and like for example, even in the coaching around. US Our website that we created for you guys compare coach Dot Com read the questions understand that we wrote this so that when you're interviewing potential coaches, you then can start discerning whether this person is just trying to sell you something. They actually had the experience that you assume that they do same goes with your marketing ideas. Same goes with direct mail getting back to Terry's email same goes with all the stuff you've got to research don't just follow blindly jest assume because everyone else is doing that they know that it's still the smartest thing to do. It's almost never the smartest thing to do when everyone's doing social networking and talking about teams and talking about all these. Things don't just assume all these people have done enough research that you should trust your fate to their collective wisdom the collective wisdom of real estate professionals when it comes to things like what we're talking about is generally speaking the last thing you should trust because none of them actually stopped and asked, what was my what is the goal that I have for myself and my business and I'm suggesting to you and I wish it again please do consider meditating on this or thinking about it is what you really want more than anything in life as the sense of freedom that comes from being rich. Now let's define rich you guys hear US talk about this all the time ridges. And some big tacky gold plated. You know all that great riches simply is where your money works for you and you know have to work for your money when you have accomplished that passive income enough to cover all your business and personal expenses. So you never have to worry about money again you are rich. We talked about this extensively obviously everywhere read Harris rules if you want more of a drill downs available Barnes and noble and Amazon everywhere else. But if you were to have a Northstar in your life, if you're trying to say okay I, feel like being pulled a million different directions which all of us are nowadays right but if you're trying to decide how do. I go about making decisions that regard regards to business regards to making money regards to helping people you know your real estate practice what should you be having as your first and maybe you're only filter is going to actually produce a tangible return on investment in less than ninety days, and if it won't don't do it by tangible Ted x twenty acts. So if you're going to spend a dollar, you gotTa Make Twenty Dollars Back and when you start having a rigid first level filter like that, what you're gonna just quickly discover is that none of the things that are being sold to you as proactively generators are going to meet that criteria none of them and matter of fact. Terri with regards to the mailer and all the other stuff that passive stuff the exact opposite is true. So they'll tell you for example, you have to do direct mail for at least a year maybe two years that after two years after you spent tens of thousands of dollars, then it's still not working you call the direct mail company and they say, well, now the new rules. You have to do it for four years. Well, you believe it and the next thing it's ten, and then you look back and you say Tim, I cannot believe I spent this much money on direct mail have I been investing that money into rentals or the stock market or all these other things during that same time I've been so much richer. But what do people tell you when? You make money in real estate. The first thing you should do as reinvest the money back in your state business. No that is not what you should do. That is absolutely positively not what you should do. The first thing you should do when you make money in real estate is you should take that money and start investing that again in our book start investing that once you're. You know you're debt situation all those types of you know I. Level Things are squared away a you invest the prophet you make into things that are going to make you passive income. That's what you're supposed to do. Don't just follow the same path that everyone else does. Well, I'm successful in real estate I've now been in business for four years. So twenty five houses, all these plaques. Made more money than I had ever had before. You know maybe this year you made as much money as you have nice. Ten years combined right you're. By all measures you having a great year and then you go start seeking advice you go these different places. Nobody's going to tell you what I just told you are they're not. They're going to say what you need to get a crm that's six, hundred a month. What you need to start buying business you need to start thinking about a team you'd add ten assistance you need add a bunch of. Buyer's agents you need to start spending money on by no don't do any of it start focusing and never lose track of what your true North Star should be with regards to your business, and that is creating enough passive income so that you are in essence rich so that you can live free of the financial burdens that basically limit. So many of our lives when you look at essentially causes of stress. You know people drinking overeating You know marital problems, all these things that that plague. All of us to. Greater or lesser degrees right. If you look at all those steaks, how many of those things wouldn't exist if people know did have a financial issues or challenges how many people for example, over drink or overeat just because they're trying to somehow placate themselves there's somehow trained to. Reward themselves over spend just because they feel like this is what I have to do as a relief valve or things like that. Here the some coaching calls all the time. So you guys and you think you justify doing things that are not good for you because you are so frankly. You're you're so locked in to this world of always having stay on the hamster wheel. So give yourself permission to have a a way forward where your Northstar your guiding light is going to be. Freedom is going to be working your business to the point where you're making a lot of profit and with that profit, you can reinvest it and then basically got enough passive income coming in that someday, not in the distant future. But in the near future five years or less three years or less the, you can actually have that sense of freedom that I. Hope you've given yourself the opportunity to experience even if it's just for a moment because I can tell you for having done this forever. Coaching and writing books and you know talking when you are. Older grayer than Julie. Julie said the two things agents wish they would have done more is obviously taking better care of their past clients and they would have done more focused business on listings. All those things are true. But what's really true is every single one of them and those of you guys are in your maybe your fifty or sixty in your seventies. I'm sure one hundred percent of you agree about to say the one thing you wish you would have done it basically is done more to create passive income so you could have. Essentially, not have had to work your entire life or at least not had the financial monkey on your back the entire light your life, and you could have accomplished that. Had you maybe been a little bit more prudent on where you're spending your money and who you're listening to. I hope hopefully, this makes sense to you guys I know it won't for everybody I. Mean I know a lot of what we say is going to be somehow offensive to some people I get the emails I get. The tax I understand. But what we want for you guys as we want you to be free, we went big as you're on the other side of that when you've got enough money coming in passively that you don't have to think about money anymore, you have to think about it but you don't have to worry about it right it. You're not living a transactional life on the other side of that is a whole different you that you probably maybe you've sort of met passing this other person. But the reality of it is you're going to live a different life and you're gonNA allow yourself. Then to expand the way you think the people you know maybe the places you know obviously maybe even where you live. Everything in your life goes to the next level. You deserve that guys you only live. Once you're debt real time you know that it really is the bottom line. So why make it so that you have to stay on this hamster wheel forever and again, why are you essentially making decisions that are not based on at least the idea obviously helping people but at least on the idea that it's GonNa, produce a prophet with that profit then you can reinvest it I know why? Because you don't necessarily. No one's ever said this to you before you've never necessarily thought about yourself like that or maybe no one you know lifts like that. Well, read our book, Harris? Rules. We walk you through from A to Z exactly how to build your real estate business and how you can get to the point where you are rich where your money works. View you no longer work for your money. Now will you stop selling real estate? No, you won't. You will still raw state but when you make real estate commissions. When that money comes in that changes everything the context of that income is is completely different. It's going to paying bills. Now when that real estate money comes in 'cause you're living off passive income, you can go to donating it maybe you want to help a charity we're coming up on the holidays maybe you want to all kinds of things. One of the things Julian I like to do. We can't do it here in Puerto Rico because there's no toys R. US but what we did in Texas and we did every place we've lived we've lived in Nevada obviously in. Is We'd go to the local toys R. US and we would walk Ed. And Julie Would we used a credit card and we would walk up to the layaway department and we would pay off usually all the Laya ways. In the toys R. US we would literally in. The layaway were usually for like seventy five, hundred dollars that was what we did. So we would pay off layaway and we you know they wanted to take picture. They WANNA to do press releases they would you know all this stuff? nope. Not Interested in that, and the store manager would make a big deal that nine interested in the attention to it. They wanted to do announcements over the loudspeaker over the store. Don't do that. We're not interested in that. We just want to sit here and you'd give. Know give us the lay always, and then we're going to pay them off one at a time at a time at a time, and sometimes we walked into toys R.. US is like the last time we did this and Austin we are in there for like three hours paying all these things off, and then Julian I walked out having paid off I don't even know. How many Julie would remember more than me thousands of dollars worth of kids toys imagine that those are kids. Those are parents that we essentially have removed a slight financial burden of having to pay for their kid's Christmas presents. But all those kids are GonNa have presents on. Christmas morning. I mean that's kind of a cool thing. Right? You can do so many different things. To really make a meaningful contribution to people not just words but actually a meaningful contribution, not just liking something on facebook or throwing your hat in this political ring or the other not not stuff like that. But you can actually go into a food bank and you can say like, for example. You know who knows what you guys get the point it's unlimited. There's so many different ways that you can actually allow yourself to become the version of yourself. You always fantasize your yourself that you could be. Once you're move having to work for money the working for money part of your life is optional. When you get a real estate license, it's not optional with virtually any other. Aspect of life right and every other aspect of life you are limited out how much money you could earn. It's based on a whole bunch of different things time in the business what you can do all this other stuff not in real estate in real estate. Nobody tells you how much money you can earn. Nobody also tells you how much money you can spend, and that's where you. Guys. Get into trouble. That's the reason you need to start being your own financial adviser and start running your decisions through filters that actually lead you to the idea of making a profit, which is your profit be if you're a proactively generating, your profit margin should be around seventy five percent you make a dollar, you keep seventy, five percent it should be right around there your business expenses. When you're proactively, generation should be fart they should be literally nothing but that's not the way it is. Isn't it everybody in this industry nowadays thinks that they're supposed to be that it's okay to run a business a brokerage on single digit margins win did someone who was it? That said that's all you're supposed to be writing businesses, and then the other thing which is really amazing is. Getting into the business rationalizing it's okay not to make any profit in other words they're breaking even best mostly losing money and going into debt in their debts compounding every year because they have this fantasy that someone's going to buy their business or some as my dad used to say, big. Big Eagles fly over make him rich that never happens guys selling real estate does not make you rich you listening to what? Maybe your current her head coach telling you selling real estate does not make you rich selling real estate has never made anybody rich. It's what you do with the profits from selling real estate that makes you rich and if you have no profits, you will never be rich. Get it. Isn't it annoying how these things are when you when you hear them from someone it's like, oh, gosh is it Kinda funny? I remember Jillian IRA discovering all these things these seemed like so practical but yet everything's was seeming so complicated before it's because the people that want you to believe the success in making money and helping people complicated are the same people that are. Trying to sell you their complicated schemes and they're complicated gimmicks and they're complicated shiny objects. Those are the people that are trying to make you believe you need how this ridiculous complicated web of things that are interconnected. So one thing works to the other works the other. That's not how a successful real estate agent operates or Roy Estate broker associates or a real estate team. In guys a promise you. If you all the sudden starts saying, we'll this the filter. The first one is the prophet filter. The second one is this make me money and ninety days or less, and if the answers those questions or no. Then you don't do it, and then like I said when so many emails, your calls, your text you or whatever saying look at this whizbang idea you say, okay. Well, can you prove to me? This is going to give me ten extra turn with a ninety days or less. They won't know what to say they'll go holy crap you must listen to them enjoy by. Right, that's what's going to happen, and that's what needs to happen because this business is a blessing, you real estate license may have been the smartest thing you ever did or could be the biggest curse in the biggest anchor around your neck. It depends on who you listen to. It depends on the path that you choose to follow. It depends on whether or not. You're going to be willing to do what you don't want to do when you don't WanNa do it at the highest level it depends whether or not. You are actually aligned with the fact that our highest and truest purpose on this planet is to be of service other people when you put all these ideas in place in your. Head just let them plant this leads and let the seeds, germinate and grow into something. You don't have to fully believe any of the things I just said, but you at least have to plant the seeds. That's what we're doing on this show when our podcast when you go to our coaching program then obviously, we're doing more than just playing the actually helping you reap your harvest. The moral of the story here guys is we're starting to enter into the new year. The stupid election is almost over thank God, right? No more of that Mickey Mouse then there'll be other Mickey Mouse I'm sure but for now we're entering into a different phase of the economy we're entering a different phase of this Housing market everything is going to start to feel noticeably different in two thousand and twenty one for the better. Some of the worst it does not matter what direction the market goes does not matter what the interest rates are does not matter any of the things that you're being told matter. They don't matter none of the matter. It does not matter if there's a high unemployment rate because they're always are going to be people that want to buy and sell real estate always forever forever forever, and they'll always be a need for caring competent skill draw state agents you're just going. To have to make the decision whether or not you want to be part of that new market carrying that's not so difficult to muster. Right competent. Oh, now we're getting a little bit harder. That's a higher threshold skilled. That's right there that last word that's where most you guys are going to get knocked out because you're going to be so wanting to believe that you can continue on this Silly Social Networking Bandwagon and that somehow is going to make it so that you're going to be successful in this new market. The last market was mostly about who you knew and frankly. Who knew you right so as a sort of a social sort of maybe that kind of thing, it's sort of worked because sellers were not that selective on who they listed their houses with biggest buyers were not that selective and who worked with because the hot selling market created massive foam. Oh, fear of missing out and sellers we're not worrying about who they're list or House with because they knew the house would sell anyway true true true, right? Okay. These are all true statements in a new market and changing market and adjusting market. None of those things are true because sellers and buyers for that matter start becoming. Really really. Selective. Fact check correct you guys getting me on this. So open your mind to the fact that this business you've made the right decision you are in the right place at the right time but you've got to do the right thing and sometimes doing the right thing is going to make uncomfortable. You know it's like I said you're GonNa have to do it. You don't want to do when you don't want to do at the highest level but guys, please embrace this business embrace your life. Be Thankful. Be Grateful. Be You know show massive graduate towards? People on a regular basis by helping them transact. By removing the stress that they have from doing a real estate transaction, that's your job. Your job is to become the best version of you as a real estate salesperson. You are salesperson I am a salesperson anyone who's ever achieved any level of success in life no matter what their industry are sales people. Yes. I'm talking about doctors talking about authors they're sales people they're trying to sell you on using them, sell you and listening to them, sell you on allowing them to do that procedure. Those are sales people you are a salesperson don't be at you know don't be at odds with that. Just be the best version of you as a salesperson. So rant over. Hopefully this helps them. Bugai's hopefully motivated you. This was not what we're gonNA talk about today. Julie foreshadowed our topic for tomorrow. How to find the hidden inventories probably with that show will be called tomorrow but do stay connected guys do think of you know again we're going into the final stretch of the year. I need to make t shirts, ball caps or saying something to the effect that you know twenty twenty. Wouldn't want to be you know, right? I mean if you're ready to have this year behind you, I know I am too much rollercoaster right? Well, unfortunately, twenty twenty one is probably GonNa be very similar. So we just we stay close you know we stay on the same path we stay true to our north stars we we state eight of the Northstar obviously. Aside, from the profit driven one, we stay true to the fact that we're here to be of service to you. In your here to be service to your clients we stay on along those lines and we stay vibrating on those frequencies for those of you guys like that mindset stuff that you can't go wrong. No matter what happens in the world you'll be fine. You'll be great the any you do it for long enough. You're going to experience a new life in your experience at. A -tunities everything's going to change, and frankly there are no better examples of that. You know yours truly my lovely bride right read our book. We talk about it. We came from less than nothing. And now we have a little bit more than something. So you guys can accomplish the same things and you can do it a lot faster than we did because virtually everything that we had to figure out, we had to learn on the job we had to learn from failing forward. You guys can just read our book and attach yourself to us through our. PODCAST and obviously our coaching program. If you need me for anything, feel free to tax me directly five, one, two, seven, five, eight, zero, two, six, five, one, two, seven, five, eight, zero, six in the meantime guys, I know a lot of you guys are at least e. x. p. curious and you should be that's the smart move tech stored e. x. p.. Two three one, nine, nine, sex text the word ESPN two, three, one, nine, six, and do consider going and listening to the PODCAST I did yesterday with Mr Brent go I think you'll really like it. You guys have a fantastic day and we'll talk with you on the show anytime member you can listen to our podcast replace other great day. This program has been a presentation by Tim Liras Real Estate Coaching for more information on the real estate coaching and training programs visit our website at Tim and Julie Harris Dot. com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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Podcast: The Zillow Threat Is Real, Are You Paying Attention? | Tim and Julie Harris

Real Estate Coaching Radio

32:01 min | 8 months ago

Podcast: The Zillow Threat Is Real, Are You Paying Attention? | Tim and Julie Harris

"How long welcome to real estate coaching Radio Star Award winning Real Estate coaches, and number one international bestselling authors, Tim and Julie Harris real estate coaching radio is the nation's number one a daily radio show for realtors who demand authentic real-time coaching get ready for fluff free unfiltered full strength honesty. What's truly working to get you into action helping others and making money now in today's real estate market now to our hosts Tim and Julie Harris. 321 and we are back Julie. We are going to be doing a special show. Today. We're going to be usurping the would it be usurping or would it be interrupting pre-empting pre-empting? We're pre-empting the show name is that we're doing the episodic series we're doing on the different kinds of fear. And we're going to be talking about something that we think that you guys are all showing a lot of fear of which is related. It's in the Fear Factor, you know lineup definitely is not sit-in and that's the reason we're choosing. This is the topic today and it's going to be about Zillow and so there's a lot of you know fear and consternation and Loathing out there about Zillow getting into the brokerage industry. And so what Julie and I have done is we spend a lot of time in research on this topic and we're going to Deep dive into answering all your questions, you know, we've been getting a lot of people setting up FAQs links to articles and whatnot about all this but I have news for all of you guys. This is all been baked in four years everything that still has doing everyone has known forever that they are going to do it so long You don't judge somebody by what they say. Here's you know sort of your take away from all this you judge them by what they do. So what you say is virtually irrelevant. It's what you actually do that matters. And if you were to study what Zillow what they were doing over the years not what they were saying they were going to do, you know full. Well they were basically going to be our true competitors, even though a lot of people like to whitewash this starting with Zillow agents would still be seduced into buying by relates. So what we're going to do is we're going to answer your question as you know, Zillow homes what we know that when the next section is, what will who will this affect the most next section is what will probably happen next and then we can give you your action steps. So we're going to go each of these through each of these points point-by-point, Julie Julie and I have been reading different articles about this, but I truly most of what we're going to be sharing with you today. We've been warning all of you guys about four years. So if you've been listening to our podcast and even before we started podcasting are webinars, we're we're talking about the fact that you should not be buying buyer leads off. You know, essentially what was going what is happening and will continue to happen as a result of the fact that you you know fellow agents you basically funded your competition and we've been warning you against that now you're going to start off the price and you're going to start seeing the brokerage model on the specifically the middle medium size and small brokerages. Those are the ones are going to be affected the quickest but we're gonna get to all those notes and a second. So Julie welcome to today's else. Thank you and fresh off of some coaching calls, everybody is still fast and furious and I would say a few cautionary tales with the momentum that's in the market. You want to make sure you are pre-qualifying the Daylights not out just out of a nice tires and your sellers but also with the mortgage people you use the title companies you use because they're hiring a lot of new people. It's right that do not necessarily know the drill and I've heard more problems this week about that that was not agent related. It was more about who they're using to service their deals. So it's okay to ask questions. It's okay to switch title and mortgage and stay with people that you know delivery. Product for you because there's just so much hiring and firing going on right now. Right and this is also you know, what you're seeing is the you're seeing the market heat up during a time when it's normally cooling off and it's heating off because obviously we had a lot of people didn't buy because they were locked in their homes. I didn't sell for the same exact reason but there's also a lot of fear of missing out fear of missing out essentially housing pricing to go to the point where people can't afford it but also fears missing out on the low interest rates and these things are these Trends and they might well, they certainly will slow down around the Christmas and whatnot. But for the most part you're not going to see any slowing down because really all the elements there for a continued just it doesn't even a bull market. It isn't even a bubble American. It's just something else that this this housing markets morphed into and there was a headline right in front of me that was on CNBC that said new home sales Crush expectations with the supply is running out about that. Remember, I was just telling you guys fear of missing out fomo again new home sales Crush expectations, but the supply is running out. So the average Joe Zoomer is reading this you can just imagine what they're thinking. So look guys. We're also seeing in our the cursory markets the C markets right a markets would be the traditional hottest markets around the country be markets would be you know, you guys can kind of work it out. So Oakland to San Francisco, for example, or you know, Columbus Ohio, you know, maybe Worthington, Ohio to Columbus Ohio or whatever bedroom communities to bigger, you know medicines. And so and so the the be markets would always trailed the a markets in terms of appreciation and market trends and if you ever wanted to know it was going to happen in your city go to wherever the hottest markets were to find out was, you know happening at home and that's going to be trickling back to you same thing happens on a national level. If you want to know what to be going to be happening in Omaha look to see what's happening on the coast and that eventually makes it to your doorstep as well. Well what you're starting to see now, what are the cursory markets or the C markets the markets that usually people only think of as you know, cottages and cabins and you know vacation homes and all these sort of, you know, strange outlying farms and Ed. Well, guess what? Those markets are starting to take off and what's really amazing is those markets have been completely passed over for the past real estate sellers boom. They were in the boom before the crash, you know, 7,000 there's this boom that started again starting in about 09 and all those cursory markets got passed over they had some appreciation some of the benefit from it but not really any and now they're the ones that are seeing the most fierce competition off. So this is a type of macro Trend that normally takes a generation or two to take hold and it's happen now inside what twelve months this is incredibly, you know, it's obviously incredibly disturbing for those who are ready or not willing to change quickly, but for the rest of us out there, so exciting to see cuz it creates new opportunities were opportunities may have may not have been as prevalent before. So before we get to Point number one on Zillow. I just want to find all of you that if you're not part of our free coaching program it's easy for you to participate. All you've got to do is text the word. I was about to say no just text you where it's survival. I've got Zillow on the brain for having written on Thursday. This article all day text the word survival 23196 text the word survival 23196 and will text you back a link and you can join the free coaching program and that free month program does entitle you to a daily semi private coaching call and obviously a whole bunch of other content as well. So you have no risk note and please don't delay text towards survival 2 3 1996. All right. So let's just jump in yes over to the notes. So here's the first option for a second. Okay, so there's five points and I want you guys to take this seriously. These are the facts of the matter is Zillow homes. Yes, that's a new name Zillow homes. What do we know? All right Point. Number one Zillow is sending their I buyer listings to their in-house brokerages. So what does that mean to him? I bought things are going to their in-house brokerages. Well, so obviously somebody sells their house through Zillow was all offers sells it 2-0 offers and we're going to get into a lot a lot of details about The Prestige Just and how to compete and how to strike back those guys just stay tuned but we this isn't covering the basics. It will go through it quick. So obviously a buyer-seller our solar cells our house. There's also offers not a lot of people are doing it but enough off and then what's happened in the past is those listings would then be referred out to various listing agents in those listing agents were paying upwards to a 50% referral fee for that listing Well, now what is going to do is they'll us going to basically foil they have opened up brokerages and they're going to only send those listings to their in-house agents who work for them as employees Point number two, July. Yes Point number two is Zillow has clear aspirations to become a national brokerage. They said so in a press conference either yesterday or the day before this is their aspirations to become National High number three Zillow homes agents will be salaried employees. If they've said there will be a combination but it's basically, you know, if you work for zil, you're unemployed, Julie we have to go back. Did you read that? They said that they want to become a national brokerage. Yes you they said that interest list? Okay. Well, so they're young. We're both working on this and I heard people surmising that that's what they're going to do. But I didn't read something invention. Wow, how fast and where they're going to be first. We know they're going to be in Atlanta Phoenix and Tucson first month, but the intentional and they actually said twenty Twenty-One. They're absolutely expanding this. Well, that's amazing. Okay. Next Point Zillow homes agents will be employees on a salary think red thin so that's need to be a you know, a paradigm shift now related to that. They also said that the those agents that are salaried employees will not be allowed to as they said quote Moonlight with other transactions, right? So then it's going to be like a it's a job you're working for Zillow. You're not going to be they don't want you essentially running a side hustle where you're taking resale listings on the side again, we're getting to the meat of this where you guys are wondering if they're going to turn off cell business. They're saying they're not going to but I'm saying to you why the hell wouldn't they next Point Jilly white number for Zillow is your competitor? Not your partner be clear on that and it is just odd. Staggering to think about the fact that you know agents all funded this whole thing. So they are your competition. Not your partner be clear. Yeah. I mean we can again old news, but that is what it is. All right, so June is l u r not zillow's customers consumers are that's Point number five. You you think you're Zillow is customer but consumers are zillow's customer that psychology matters. So if you're not their customer, what are you if you're the one paying money to them and you're not their customer and they did say this and customers consumers are their customer. What does that make you? You know that makes you at some even if you are not working for them as an employee, what is what is the nature of your relationship they call you a partner, but I'm not really sure I would call the nature of how Zillow what zoo has been doing to the industry in your business in particular overtime at the type of partner. You want to be in business with long-term. Hopefully you're going to realize the answer is no and hopefully you're going to realize that the buying buyer leads thing has been essentially one of the worst Trends wage. Ever enter in and be allowed to enter in and to be advocated on behalf of so many people as being something that was good for consumers cuz it never was and we were going to give you some specific facts about that. All right, Julie, so I thought this is where I would we're getting a little bit into hyperbole on these next two sections, but I think we're going to be able to sell it to you guys why we're having the opinions that we are so Julie who and read the point before right? Cuz my grammar certainly was not spot on that out. But so the question is who is this going to affect the most agents with low-skill they're going to be affected because it's not just competing with them. They're not competing really with anyone but typically agents like that freak out the most well, so age-old agents who do not know how to basically be proactive and lead-generation compete on listing appointments are not just going to be wiped out by Zillow in markets, but they're also not even going to be competitive just with normal brokerages. So the agents will be affected the most of the agents who will always be affected the most the ones that don't have the skill set to basically be relevant birth. Don't they haven't earned the right to essentially be chosen for the job of selling a home or even you know for someone to work with them on the buyer side. So those will be the agents that are affected the most those will be the obvious agents that will be essentially the ones on the heels to be completely knocked out in a very short while and that's sad because those are the same agents that will live in the most fear and maybe not do anything about it and learn those agents. Definitely that you know are going to get their butts kicked. So be careful if that's you and you're spending a lot of time reacting who will this affect the most the next Point agents not associated with your broker who has an eye buyer. I buyers cradle inherit. I want you guys to think about this if you're working with a broker and your broker does not offer an eye buyer. In other words, you're on a listing appointment and you're competing with Zillow offers. You're you're competing with opened or whatever and you're you don't have our own I buyer that you can then basically go toe-to-toe with Zillow and Open Door you are going to be seen as irrelevant old news in you know in the eyes of that seller and you have table Zoom that that's our is going to be comparing you to I buyers you cannot be operating as if you're just going to be compared to traditional brokerage just as foolhardy you have to assume even if they don't tell you in every single case, you're going to be competing against deny buyer. I and here's the interesting thing about I buyers. I buyers are nothing other than an iteration on the We Buy Ugly Houses franchises that you guys may have remembered from forever ago, even before that. It was the guaranteed home sale program. And so what these programs do is they create a lot of seller interests, but they create the interest from the best most motivated sellers. So the most motivated sellers are almost Thursday is going to be attracted to the quick sale variety of you know options and so those are the cellars that you obviously want to attract for resale and now here's an interesting thought for you and a hot seller's market where there's Equity sellers have a lot of equity they'll pay for convenience. So when you think of a like say for example a seller sells through an eye buyer and they take seventy-five cents on the dollar right? I mean in your mind it doesn't take long for you to figure out With that sellers leaving ten or 15% on the table and you're right, but the reality of it is is they're willing to pay with Julie and I coined is a convenience fee. So when's Ella came out with Zillow offers a few years ago? That's what we woke in this ass, cuz that's really what it is. It's the same reason that when you have a car that you want to sell you don't want to necessarily eBay it or try to curb Stone it you want to take it to CarMax and you want to get one guaranteed price and that's it. It's a convenience fee you're going to sell it for less than it's worth retail, but you're not gonna have to screw around getting it sold and sellers are willing to do the same thing with real estate now to a brain If Equity drops now see if the market Pizza in a meaningful way and then people are fearful the value of their home. Now. I'm not sure this is going to happen. I'm just giving you the, you know counterpunch to this that if Equity drops, you won't see sellers have the ability cellphone less than full asking price or they'll basically be under water. So if your house is worth $300,000 in Zillow won't buy it for more than you know, seventy-five or eighty cents on the dollar and you owe 290000 you're going to age. But write a pretty damn big check to get rid of that house or do a short sale, right? So that's going to be an interesting headwind if the market starts to meaningfully shift. Now, there won't be a national shift inevitably. There's going to be regionalized chefs where there will be some loss in home value, even if we have inflation that those two things can be true at once so you're going to be maybe in a market where you're not going to be affected by it just because frankly your home values are going not going in the direction where the I buyers can make the numbers work now, here's an interesting thought for you and I've heard different statistics on this. I haven't spent a lot of time researching it if you guys know the actual hours on this, please do share 9 out of 10 or higher sellers reject I buy our offers because they're too low most are seventy-five to eighty percent of retail or less after inspection in a hot seller's market or seller's are fairly confident that they can price even overpriced and it'll sell itself with multiple offers. They're the the convenience of having of selling quick isn't as appealing because they know it's going to sell quick job. Way, so these are just different things that you need to be, you know, putting into the mix when you're considering the future ramifications of I buyers, but I'm going to tell you where the real magic the hat trick is with Irish of attention. I'm saying the seller leads that come off the I buyer ads or where the money is at the real opportunity here is what seller leads so when you run a guaranteed home sale program when you run a bath any kind of program that's going to offer a you know for efficiency an instant offer type and it's an offer type deal. You're going to get a live seller leads and those celery leaves a lot of them can convert to normal leads. That's what these guys are doing. They're going to start shaking the tree of their listing leads in your Marketplace and they're not just going to be peeling out the ones that want to sell instantly they're going to get so many leads from sellers that just want to sell but don't want to lose the discount. Do you think they're just going to say screw you we can't help you forget that it's not going to happen. They're obviously going to have to start taking resale listings. They're obviously going to leave those resale listings in house. They're not going to refer them. Listings out. If you're them, isn't that what you would do? I mean you already have brokerages you have agents at work for you. You have a seller that wants to sell they just don't want to take a you know, sell it at a discount or maybe they come out with a new program Choice. What a lot of the guaranteed home cell programs have been out since the eighties. I mean Julian, I had one back in the nineties and this is why we were cat people would call us out that we'd put a guarantee on the house. And if it didn't sell it for a think it was night. It just ended their the terms and conditions. We don't need to talk about now. It's part of our coaching program if you want to have one yourself, but what we do is we back stop it. So if someone was worried that their house wouldn't sell a 90 or 120 days. What you'll do is we put a guarantee on it that after 90-120 days of it didn't sell we would end up buying it and we would you know, we weren't buying it for retail. We're buying it for a discount but that's in essence what these guys are probably going to do I cannot imagine that they won't happen again. What's the advantage The Cellar when we did it was turning somebody who would have been contingent on home sale into a non-contingent Cellar which is pretty much the definition of a convenience fee, right and you guys thinking Still refer of those very motivated now soon to be homeless sellers on my side know they're gonna keep those are going to have to compete against this so, you know, I can just hear how they're gears are working in the gardens, right? So if nobody's really probably going to take that because sellers get the offer and so hot seller's market. They figure it's just nice to have that number. Well, why would I have to worry about that? Because hey, they're going to take a lot of leads the market and be if you even get the call you're going to compete against this and see if you're not doing it yourself. You may not even get that call. Let me give you a quick example from one of our coaching clients who runs an instant offer a little advertising campaign radio home brochures is pretty much everywhere. Right ask about my instant offer program. That's all it is. Okay makes the phone ring like crazy right 9/10. They hear whatever percent is the offer and they say no but a couple of months ago CMA said three hundred thousand. Okay, the instant offer was a 250. So you're thinking what seller knowing that their house on a CMA is worth three dead. Would take 250 they said okay, we'll take it we want to be out of your right now. They were relocating like ten states away. It was more important for them to take the offer and be done with it. But that's the Canadians fear. Exactly. Been two months rent. Now our agent took that spent about fifteen hundred bucks in little things and flipped it immediately 30 days later great. I mean the seller was happy as my point. This this is the type of thing that's been happening in the marketplace forever them. I buyers idea is not a new idea. It's write a white paper about it what 2 and 1/2 3 years ago. Maybe when do they come out when they'll come out with so offers? I think it was 2018. Maybe I don't know how long it was. This is the next iteration for them. Right? Well and again, I'm to go to Premier. Yeah, you do. So guys if you're in Premier coaching make sure you go to Julie's Premier coaching session and happens starts live in oh my gosh Jill you have three minutes. See you later. All right, so I'm going to get you guys to the next point and then we're going to talk more about this tomorrow. All right, so, let's see where we're okay agents who? Okay, who is who will this affect the most? Yep? The agents who only know how to buy leads and I'll tell you the other people. This wasn't a point. I wrote down this morning, but the other big group of people that this is going to really adversely affect. Oh actually did write down. There's my next point the big group of you know, essentially business owners. This will adversely affect our again brokerages that don't have their own buyers and don't have an eye buyer program don't have a national portal aren't license and fifty states and our true life focused on being you know, you need to have a brokerage Association. That's a essentially basically has a global perspective on doing real estate transactions. I know that's a big lofty thing. I just said, but the reality of it is is that's who your competitor your that's what they're your competitors going to become now, I know and you know at the end of the day that they generally speaking a independent agent who took their own business who is an aunt, you know business owner the names on the door, they're going to do a probably be more professional they're going to be more skilled than somebody who's willing to work for a company for some salary cap. Think we can assume that that's universally true. It's not always true, but it's probably true. So a lot of the people that these again we're going to see more and more these brokerage just as starts a luring agent's office staff members. Those agents are not necessarily going to be operating at the same level say for example, some of the top producers in the marketplace that have their own businesses. I think that everyone can agree to you know, different levels and not trying to insult anybody but I think we can agree that that's true. So there is an advantage to you. If you are obviously, you know working with a great company like exp who has an eye by our program who had a buyer program that you can use and you can be competitive with who has a soon to have a national real estate portal the national real estate portal thing is really really critical because if you look at Zillow, if you really peel back the layers, what are you dealing with your owner of the company that has earned the right to have a dominant Search widget for homebuyers. Julie and I are looking at real estate all the time in the Zillow app in the Zillow Interfaith. So on your computer is so much better than realtor.com. It's not even funny and you know, they've perfected it. Basically it's so much easier to use the consumer experience really is superior. So they've learned the right to basically attract more eyeballs. That's the nature of it. So if you're going to think how are you going to compete with these guys? Well, you could always become an employee of them that I'm sure most of you won't find that very appealing wage. You're going to have to go with a come and there's only one company out there that's operating like this. There's only one true real estate tech company a company that is 100% tech-based. It's obviously it's exp realty office. So with the XP relative, what do you have you have an eye buyer program? And then the other thing that they're going to be coming out with is which is incredible is a national search portal. So that means that there there's going to be exp National search portal. There's going to be obviously Zillow and realtor.com now, we're going to get into conversations tomorrow about whether or not there's any advantage to a seller having their house listed on more than one job. Website in other words, we were told and we were sold a bill of goods years ago that your seller is somehow at a disadvantage if their listing isn't on a you know, a zillion different websites. Would you guys just surprised to know if I told you that years later that you know research is in and it absolutely has no positive benefit for the seller having more exposure of their house. Does that surprise any of you know, how many of you actually believe that's true. How many of you when you go on listing appointments show that the seller is going to have their house featured on a billion different, you know websites and then you think and they think that that's somehow I've been tejus what you guys seem all this is going to go and we're going to talk about what's going to happen next but there is a very very strong reason to believe that what you're going to see happen over the short while is you're going to see a lot of brokerages a lot of dead gorgeous which are really going to second-guess and start thinking hard about whether or not they want to fuel their competition and Forum in the form of eidechse and listings sharing. I know a lot of you think this is an old conversation that's not dead. Having any more but it will be had because that's the nature of Market forces. That's the nature of competition and if a company does not have to have essentially they can create their own waves like ene speaking and maybe some you know Remax probably Keller Williams. All these companies are going to create really good certain consumer search widgets who is why wouldn't consumers want to go to different websites two different jobs at the listings that belong to the individual brokerages. It's not as convenient. I'll give you that but the reality of it is is that's most likely what's going to happen because what's happened to the nature of how basically, you know, the the competitive nature of real estate and the competitive nature of what these tech companies have done to essentially guys. Honestly, they've many of you are not going to basically be able to stay in business for two or three years unless you open up to the fact that the Zillow those are just the tip of the iceberg you're going to have more and more of these I buy our companies. They're going to start creeping up think of it this way Zillow has a marketing job. Above somewhere close to twenty billion dollars. All right. And so what are they have 4:20 billion dollars think about that. It's a national search portal and they sell leads to agents and now they've got this tire program I buyer program and obviously the the other widgets to but if you listen to their investor calls, which I do they're not making any money on most of the products other than selling leads to agents. I mean that's overstating it but that's basically how it works. Now you look at a company like exp Realty exp Realty is going to have most likely over 40,000 agents at the end of this year. They're already opening up in different countries. The XP relatives going to have market-leading technology package Xscape, but exp Realty market cap right now is less than 3 billion. So the market says that Zillow is worth 20 billion and exp with all those agents in growing an incredible rate is worth less than 3 billion. Does that make any sense to you? So what's going to happen is is that different companies? Well e x p is going to lead the way inevitably they're going to be the first true hybrid version of birth. Estate brokerage meet a tech company Zillow has the edge on technology, but they're far behind in The Brokerage side of things The Brokerage side of things is real the real work is and the technology basically is fairly. I'm not saying easy, but you know what, you have to create right creating brokerages with that are depending on all this individual state laws and all this individual boards and mls's and people and all the rest of it. That's an enormous amount of work. So Zillow has a huge mountain to climb exp is already basically proven that they can be adaptive technology wise in leading technology Wise Choice, you can see where this is actually going to play out and it looks to me and Julian we're going to talk about this tomorrow again with what's going to probably happen next. We believe that you're going to see the two Tech Titans that are jobs out of this whole conversation in the next few years. It's going to be exp Realty which will be seen as a tech company and this is our opinions only and once the world realizes and Wall Street realizes that expe Tech company they all start getting the same valuation hypothetically that Zillow does and that is incredible. So if you want to be in the right place at the right time, I strongly encourage you to consider exp Realty do it to one of two ways. If you went just a quick nine minute video and exp text the word exp to 3199 sixth explored xp23 1996. If you want to have a conversation with me immediately, if you're ready to join the XP if you've already passed the you know exp curious space and you're ready to be any XP member of our group feel free to text me directly at +512-875-802-0651 to 75806. I'm going around the bend on today's show with one closing thought so you have to decide as an agent or a break or do you want to be represented by a company who basically says consumers are their customer or do you want to be represented by a company who said agents are the customer and the customer of the page? And so the consumers you guys get the difference. It's not a small detail. It's a huge detail. So when your leader of your company says that consumers are my customer not the agents who basically are paying my bills. That means that your interests are going to take the back seat to whatever they determine is in the best interest of the consumer. What's in the best interest of the consumer is not always what's in the best interests of the thousands of you know, some business owners AKA agents and brokerages that essentially fund those brokerage operations. You want to be aligned with a company that has you as their customer and then the customers are the people that you serve the buyers and sellers in your job market place. Hopefully all this makes sense. We're going to pick up where we left off today tomorrow. You guys have a fantastic day. We'll talk with you on the show tomorrow. This program has been a presentation by Tim and Julie Harris real estate coaching. For more information on our real estate coaching and training programs and visit our website at Tim and Julie Harris. Remember tuning weekdays at noon for upcoming shows and until next time thank you for listening to real estate coaching radio with Tim and Julie Harris.

Zillow Julie Julie Julie Harris exp Realty exp Realty Tim realtor.com Julian Omaha exp Realty Julie Harris. eBay Joe Zoomer CNBC partner
Podcast: Debunking The Great Success Killing Myths You May Believe. | Tim and Julie Harris

Real Estate Coaching Radio

1:16:36 hr | 3 months ago

Podcast: Debunking The Great Success Killing Myths You May Believe. | Tim and Julie Harris

"Three two one. We're back julie. Welcome to january twenty fourth. Yes and this is the sunday show warning such every sunday. We warn you. This is not the normal timidly and julie harris real estate coaching podcast. This is essentially julian. Id fragging from the previous week and preparing for the following week so our brains and what we want to talk about with you. Guys is generally not real estate focused because on the weekends we intentionally try not to have real estate bots so that we can sort of allow new software to load over the weekend but also give ourselves a break mentally and emotionally. And if you know as real estate agents when julie and i sold real estate i know that on the weekends is when you really better be dialing up your bringing not ratcheting it back so maybe you intentionally have and what we did in our own real estate businesses. We would always try to have monday as day off. I do remember very distinctly by the way chilly along those lines. That every single Virtually every single spring and summer and fall day when we would work all weekend because we pretty much had to because number hauser selling one hundred or two hundred houses a year and we always look forward to having our monday off and then like every monday. It rained like the weekend was perfect. Beautiful weather in our monday raid. Yeah we're always worked out that way. It was like a whole i remember that. Very distinctly wake up and you'd be like well of course it's sleeting or whatever yeah so. We switched to fridays off event. We did well. So we don't have any particular agenda and i'm going to dust off the old boy scout saying hope for the best of me prepared for the worst. That is what today's podcast is hoping for the best being prepared for the worst so i did write something down a few thoughts down. Actually that i wanted to share with all of you guys. We get a lot of of people you know messaging esther different social stuff and guys if you want a message julia reid texas us directly. Because we're not can be very good at checking messages and all this other things we do have staff that. Check this messages but when you guys send us more messages of a more personal nature and one of our staff can hold of that. They don't they'll they're thinking that they're trying to help you discover or learn something or find something on our website or something like that so if you want to send us something personal which a lot of you do. I really appreciate. Just text us. Text me directly five one two seven five eight zero two zero six and i actually might read you on. This message is not including those people's names today if we feel motivated but one of the things. I've been hearing a lot of You say to us. I know it's because we did a series of podcasts on july. Twenty steps or twenty things. You should do if you're a newer returning agent. Twenty points newer. I think it was twenty. Man was enough to work on certain late last week. And a lot of you were listening to that. Obviously we appreciate the feedback. A lot of great feedback. We kept everything very practical intact goal in our usual no bs fashion. But one of the things. I kept on hearing through your comments and questions. Where you asking us why we're re really focusing on the words like passionate and things like that now. You guys weren't asking questions that were directly like that but what you're really asking as you do. I have to have passion to be successful. And we've talked about that so many times that i just wonder sometimes how many times you have to hear this before you actually understand what we're saying is probably a mindset about the word passionate you should adopt yourself and so i'm going to say it and then talk about it and i want you to really open your mind to it. First of all. I know everyone you listen to every ted talk you ever watch every book you ever read every supposed self proclaiming guru on any place in anywhere. You ever go the all going to tell you that you need to be passionate to be successful. They're going to tell you you passionate in order to make money they're going to tell you to follow your passions in the money will fall now. I'm not going to say those things are one hundred percent. Bullshit those those thoughts but they're probably pretty damn near bullshit. And here's why because passion is an emotion and you're gonna predicate your future and you're gonna accomplish in life based on emotions and emotions are ever changing. They changed constantly just essentially chemistry in your body. It changes whether you just everything. Like i said a bad word right and maybe that words triggering some emotion in you and maybe you're feeling one way a second ago and now you're filling a different way or maybe you're hungry maybe you're tired. Maybe can get enough sleep last night. Maybe your kids screaming in the background. All your emotions are constantly changing. Who knows how frequently they're changing and the word passion or feeling passion is not something that were designed to feel that frequently. It's supposed to be an infrequent emotion and that's generally speaking what it is and so if you think that you're supposed to feel passionate to be successful at the at something that's what i really wanna talk about a with joy so julie were your thoughts on that well. I think there's two things one is has. I knew you were gonna to maybe discussed this a little bit today. I've been thinking about it. One of the things. I think that contributes to this is. It's easier to be passionate about something. You're already good at so like for me. And i talked about this in the harris rules book and a little bit in the treasury. Matt who julie just through an mersal have you guys gotten gotten hurt advert. Yeah she always wants me to pitching but she teases me up. long-term listeners. know that so harris rules. Well you don't think i know you do that. Harris rules of course continues to be a bestseller on amazon. Makes sure you guys get this book. Amazon barnes and noble every leading bookseller You know it's on audible. It's one of these things that julian are truly proud. And if you're looking for a complete solution aid is the first what you should be doing. Real estate business. And you're asking me for advice and you're texting asking julie night. And or any of our coaches you know. We have fourteen coaches. Here's the answer. Read harris rules and then if there's any mental if there's a learning gaps in the inbetween with your mind then you sign up for coaching. But you can sign up for coaching. While you're eating harris rules and obviously things will settle into your brain. You have more direction quicker so definitely get the book. We wrote the book for all of you. We wrote the book to give you an end. All be all answer. And how do i build a successful long term. Sustainable real estate practice. It's on again. You can find the book everywhere. It's called harris rolls over four hundred and thirty or four hundred and forty five star reviews so yes okay so i talked about this in various places but you know as a kid growing up. I always took music lessons. And it's easy to be so my point. I think is it's easier to be passionate about something. You are already good at that. You've already done your time with that. You've already made the effort okay. It it ends up up being easier right. You have some level of conscious competence and so related to that. It's easy then to believe that if you don't have that about something else whether that's business or real estate or whatever you're working on that maybe you're not going to be so good at it right and because it you know this is i think. Sometimes it's actually worse for people like me that have had a passionate about something else. Okay because you actually know how much effort and disciplined and work it takes to be good at something and so you kind of know what you're signing up for. I'm not sure we're seeing the same thing. Actually i think that's that's one part of it is. It's easier to be passionate about something that you're good just because it's easier right but the passion carry lord. Yes so the other part of this is that there's a lot of people out there like what you saying. The top of the podcast. That will tell you you know. Do what you're passionate about in the money will follow. Well that's not always true. If that were true for me i'd be like you know musicians to be joiners right so just doing what you're passionate at. The money does not always follow. That's not always true and it took me for real estate. It took me seeing somebody who was also passionate about several actually influencers to me that we're passionate about all kinds of other stuff but also were extremely good at running very successful real estate practices so i had to see that. It's not either or that by pursuing something that you're not passionate about doesn't mean that you throw your original passion in the trash can you know it's the expansion of your mind and not getting stuck in a rut so drilled on on that so i was never passionate about sewing raw state. Never mean either. Yeah it was a job basically now. We're passionate about what it was able to do for. We're passionate about the results. We got from selling real estate. There were certain things about for me. Personally that i loved about selling real estate. I loved listening appointments meteo for truthfully that was that was the only thing i really about something like competitive so yeah i think we liked winning the trust of somebody that maybe wasn't baked in especially when you're competing absolutely especially when you're competing and i still really enjoy that about senior coaching client lady. When i'm on my coaching calls. All i wanna hear is wanna get my little listing appointment. Hit for about their appointments. Living vicariously i suppose right but i mean in real estate and when we sold real estate everything else was just a grind on a slim. Yeah i mean like who up and goes. I'm so passionate about doing that next cma. But i wasn't passionate about this now. It's so so. I wasn't passionate about really any aspect of real estate ever and that's okay as what. It was necessary. So if i would waiting around to feel passionate about that and it never arrived or arrived in fleeting moments that to give me the perfect excuse. Demo never actually be successful at it. That's right and that's the that's the point i'm trying to make. That's the danger in people using it as an excuse and that is what it becomes. I'm not taking action. Because you know i'm just not passionate about it right so don't look passion when it shows up embrace it but the reality of it is is that if you're waiting for it to show up before you actually start doing you don't want to do and you don't wanna do at the highest level like somehow that hit passions going to your superpower and as an essence what it feels like right when it shows up. That's when i'm really going to basically move heaven and earth to basically make it so that i can do incredible things. It ain't ever gonna happen or happened so infrequently you know some people you'll feel that in the form of an epiphany or whatever right you'll just be in a groove you'll be in zone read books about it all the stuff guys luck. That's not reality. Reality of it is if you the passionate thing becomes an excuse to be a liberty it and just go from one shiny object to the next. Because what's going to happen is the passion that you might feel some aspect of real estate will go away the second basically you start getting pushed back on it. The second becomes harder. The second becomes more skill set based the second you start experiencing rejection in other words. The second year actually being pushed to become a professional. That's when most people say up. I'm not passionate about this anymore. I'm going to balance this something else. And so i think that if you embrace the fact that just the passion itself is so misused Here's where it really pisses me off to be honest you. There's so many people out there that are these fake gurus and self-proclaimed coaches and all this you know. Mickey mouse is out there in the marketplace right now and their whole business is predicated on a lie. A myth it talking to our friends kevin and meg about this yesterday. That there's so many people that wants you to believe in that know somehow you can manufacture that passionate and all that stuff and we were. We were kind of scoffing at that. A little bit because it. It doesn't require a whole lot of action but they hadn't intellectualized they don't realize that there are so many people that are essentially these they're all over the damn place it's insane and so entrepreneurs or would be entrepreneurs. They get plugged into this idea that they need to read this book higher. This coach do this whatever to find their passion and guys. That's really again. It's just a bunch of bs and work on something right. Procrastination from doing the real work. If you want to know how you actually can have momentum which is what you're looking for it's from doing effort and probably the very efforts that you're trying to avoid doing because you're searching for your passion and working on your mindset. Yes but and i. I want to put a little icing on that cake though. It's not that we feel that passion is negative or or anything like that. It's how you focus it right so you can be passionate about reading your mind you can be passionate about having the best most kick ass listing presentation in your entire market had passionate about that obsessions. We observe i think again. I don't think you really. I think the word passion for me. If you looked up the definition of it it would basically be associated with word. Love right proselytize will make a person because the listeners seemed like when we talk person okay. So we've been married for thirty years this year. K so i would you say you've always felt passion for me for thirty years. Always always i mean there's exactly. Yeah well but but because it's an emotion it. It's an ebb and flow. Exactly that's true and the nature of a relationship over thirty years. It's been flow. You're always in love but the nature of the love is different. It is sometimes it's easier sometimes. It's harder sometimes. It's just you know when you're trying to go through. Just it's getting older. You and i were observing really. I'd say it that way. But we're observing a lot of our new friends that were meeting here in puerto rico who are younger than us by. Probably give or take ten years. And i remember what it's like to be. That late thirties early forties stage life and there is a lot of stress in that age. Sure absolutely from both male and female males. Especially when you have a bunch of little kids. coming up. Right medium-size kids coming up. You'll get your business growing and you're probably financially on your way but you haven't resolved it yet so you're in. You're probably still working through a lot of the familial aspects of spinning plates. Yeah women when they reach a certain age. I've noticed this very consistent. Obviously i've noticed it with you. And i remember very clearly sort of divided between your sort of your your your paternal maternal family and your your real family or your family and there's all this normal stuff that happens as people age and look it's different the nature of her relationship in love supposed to change. It's not like you know when we were kids. We met each other. And you know. I can manifest that feeling but you understand what i'm saying. And so if people so if they believe that every day especially when you're married or businesses started like a relationship to if they believe every day you're supposed to passion for very unrealistic. That is the definition of unrealistic expectation. But it's the destruction of potential to. Yeah and that's the insidious part. So if i'd given up on you the first time i didn't feel necessarily passion because we've been married and we've married basically where can we you know. We had an slay dragons together. There were some hard years absolutely. Yeah and it wasn't the same as like before we got married and we had just rose colored glasses and the whole thing and when we were becoming adults and we're learning how to sell ross estate managing our money and oh there's a thing called taxes and all that crap all right you know and just all that stuff in it took you and i are probably solid ten years before we actually thought all the sacrifices that we'd made You know personally and professionally. We're actually paying off. I prolong for a long time. We were jealous. Evolve our friends at decided to have normal lives because they had normal vacations. They seem to not learn. It's hard to have a lot less stress and we know that because we're selling off from houses and we are working all the time. Yeah and we have a lot of sarah sacrifice right. But i mean if we'd given up at that point because that is where most people go up right then we wouldn't be where we are today that's right and that's hard to see when you're in right. Well this is reasonable is is the hardest thing to see when you're in the thick of it and you know we have coaching calls. We have texts with emails. Where where these guys will have gone through a series of transactions. And you know maybe it wasn't the easiest thing maybe they had you know a lot of consternation and they they get like i think i've lost my passion rate or something like that when you're running a business and the right where people you help the more different types of situations you're going to see and this is part of your business. Maturity is to be able to handle a multitude. Like you were saying. You know if we'd given up when it got hard no you're not going to get to where you set your. I can't when of the most important pieces of i forget who originally said this but repetitious boredom pays off repetitious. Boredom pays off so the essence of that is and i learned a lot as i begin to really think about what actually that it meant that basically exactly what it said right. Be okay being bored for periods of time in your business and i remember when you and i started internalized that then began to realize that there is an innate desire. Just of have thinking you need to create all this hype and need to create all these essentially unnecessary stress sometimes in your business whereas the reality of it is the best most profitable businesses. Are you know they're boring. They're the most simple you can make great. You know we talk about this on the normal podcast about agents and brokers overcomplicating their lead system. You know and like having double opt in drip system that you know that someday. Maybe they'll call. And i just have more people to get that one percent. He call people who have their hand up. It's fine stein said that you wanna make your problems whittled down into the most simple that you can okay. The the solution is always the most simple answer. You can come up with free and you can use that in so many different places you were talking about. Repetitious boredom pays off. We use the story of the the guys that we're going to the south pole last week on thursday or friday podcasts. And you know this was like a race to the south pole. Two different teams in one of them was hiking with the sled dogs and all that when he kind of felt like it in the weather was right and you know maybe fellow more passionate about going to the south pole that day and the other one said you know what. I'm just gonna go twenty miles a day every day no matter what doesn't matter what the weather is and so. Who do you think one guy that had the discipline. In spite of the fact that he probably was hiking on. Daisy didn't feel like so. Let's drill down on that. So here's the thing you do get generally speaking better results. When you're feeling a certain heightened state of emotional. Let's call it passion. So how'd you are trademarks saying if you went ever increasing levels of success. Do what you don't want to do. And you don't want to do it. At the highest level. But if you're somebody and it's normal to be this like this who only operates at the highest level. When you're feeling a heightened state of emotions call again passion that how do you actually create an. How do you do things at the highest level when you don't want to do them. When you're not feeling that heightened emotional state within question tracking. So i'm might tell a story about a guy named who you'll remember adam contrast amber. How did you pull out your praying. Because i learned this from him. So adam was a he worked in hollywood. He was He actually has. I think the long term the longest blog on youtube and he is a multi talented. I was always frankly. I still am shocked that he hasn't become a big celebrity. So skilled great singing voice just wrote some hilarious skits remember. Yeah amazing and i so we. We hired him to help us do some. We had film and that we did. I remember in laguna beach at the montage right. Yes so i asked. I was trying to get to know him because he was a true creative right. And i was trying to understand. He made his living do it and he made a good decent amount of money he no he had his own he had a. What was it called Up an atom. He had his own shell kind of sorry. That was cool. Yeah but it was just no our. He was part of the. Cbs morning show. That came on every morning at five. Am and he had a little like five minutes called up. an adam. and. I don't know how many years where it was this. A little skit that he determined super creative and really funny. Yeah yeah so anyway. I was asking him. How do you. How are you creative. When you don't feel like being creative right and he said. Because i've done it for so long i don't i can just basically be created if he didn't know how he didn't really expressing better than that but i got what he was saying so when he was saying essentially he was operating level of say was unconscious. Compet race so that that's it cruising altitude in a way right and so that's what that in. That's what for me was a huge lesson. Because what he was saying is he can churn out the same level of content or product when he's feeling passionate as when he's not feeling bad why because he had had the discipline for so long has he had worked on it right. And that's that's how. I was thinking about it too when you said that. Is that you sort of earn your way up to being able to flip that switch and you. You can't just decide to do that without building on your experience and raking on having the discipline in this modern age of bullshit which is a lot of bullshit. And i'll tell you zoe so many dollars. She's not listening she. She's probably at the door with little hashtag a piece of paper marking up like right now. I'm into her for like twenty bucks or saying bad words. But when i see people call themselves coaches and really are they all. They are truly mediocre trainers. And i think obviously that's going to rub you the wrong way 'cause jillian i've been doing this for so long because we've done between the two of us it's really unknown. How many coaching calls. We've done hundreds of thousands. You know if the rule is that you have to have done something ten thousand times before. You're an expert. Well i don't even know what we are where something beyond that right. And when i see somebody else okay. So there's that. And then i see somebody that basically is a guest. Coaching degree or certification. Or some mickey mouse and all the sudden. They're trying to position themselves in the marketplace. Against somebody like julia night. And there's you know there's not in different fields. There's people that are true experts but if you're as a consumer don't know how to discern true expert from faker then you're basically gonna start listening to really bad advice and you're going to not only spend money with them that you're also probably going to lose the direction you otherwise would have had if you listen to somebody actually the hell. They're talking about and julia again last week on the podcast you talked about if you land a plane or you come in and just to talk about that. It's not in front of me. The exact role that the aviation industry has this rule. I think it's called sixty to one role. Where if you're off by just one degree you basically are. Of course you know that you're navigating that you're actually like almost one hundred feet off so if you keep flying the plane at that one degree off you become miles and miles away from your actual target right. Which shows you that one degree really matters. You know we've been talking about what's the difference between two hundred eleven hundred and twelve degrees one degree more makes the pot boil so you have to be careful about getting off course in steering yourself back on even on the days where you don't feel like doing it and i tell you what else that i was thinking when you have those. Those moments are flashes of passion. Where it's like. I was really on fire today right. You don't really have as many of those without having the discipline of doing it when you don't feel like doing it or when you don't wanna do it so it doesn't happen unless like coaching clients. Say oh i took three listings last week but they were all past clients or whatever well you know what you got that business because you did a kick ass job at some point. You wouldn't have had that. Had you not done the work. Well that's exactly what. I'm observing questions. I've been getting a lot of people have never or maybe it's been so long ago used music as your reference point but a lot of people have never actually done anything long enough to truly basically get to that unconscious competence struggle the most and because they don't know if they don't know what that feels like they don't know the experience they have to go through the experience that they see people occasionally that have that and they're thinking that somehow there f- they can fake the con- the world basically to convince the world that they have it and then sometimes in the midst of connie at they're going to somehow obtain it. Does that make sense. Yeah the work around the easy button right exactly. And i think that what's happened actually. Is that the people that are trying to sell them. The shiny nichols and the easy buttons. They themselves are in pursuit of the same thing operating on the false premise. That they can take their way out to somehow receiving some or obtaining. Some level of unconscious competence. And it's it's i think easier to fake it. Now because of all the social media stuff. The influencers stopped. You can like by an image package to make yourself look however you want yeah exactly and the put filters and all kinds of different things to fake it and well. Here's what i'm encouraged by. I'm gonna slightly pivot shirt off by one degree here. Well since observing clubhouse and all the rest of that and that's really cool app that julianne start participating on. But i do notice that there seems to be a real boiling up and intolerance for fake experts. Because i'm listening to some of these big club houses. Where they're they're in little rooms. Basically this is an audio only thing and you'll see these like you can kind of scan their pro. I have to say this. But you can scan people's profiles and you can see. Essentially these people call themselves coaches and experts blah blah blah blah. But when you read the profiles if it's all touchy feely impossible to pin down. What the hell they're saying. Type words there fakers l. I'm in pursuit of my mission. On what the world to hear my voice and my unique presence in what the hell you saying it's never ending. It's just like this is a circular cycle of. Bs is being regurgitated constantly. But if you're not disturbing if you don't have the correct cultures in place you're gonna say. Oh my gosh not only. Am i supposed to listen to this person. But evidently that's how. I'm supposed to present myself to the world. Yeah well it's easy to believe. And i think that it's not just like from the twenty-somethings i think it's you know like i always. I listened to part of this. Maybe let me just so. I haven't enough caffeine today. I think actually finding the millennials are the least tolerant. Yeah they will set. Yes if they're more dialed as the people. Our age and i probably. I don't know maybe thirty five to our age. There are most susceptible to it. That is a good millennials. Grew up and they don't they know it's crap i mean like i have people routinely mean who uses facebook honestly yeah. Facebook is not used by millennials. They're using other things clubhouse or salmon or whatever's next because they know that stuff's not real they know it's fake but other people who have not grown up with it who it's little bit clunky to learn ways around the social networking all. Those are the people that actually i think are acceptable to believing it makes sense. Yeah it's weird counterintuitive. Because you'd think so the millennials. I know this. Because the millennials say it to me and when we are we talk about the real value basically build a prospecting base marketing enhanced business which is the exact opposite of whatever and everybody else is going to tell you lead with marketing lead with social networking. Here's your lie. Your guy did get an email. Actually i was thinking about reading it and making fun of it. I send it to you a long email from supposed some guru in real estate. It was giving you your list of your top ten things you're supposed to do this year. It was how various we should read. Yes if you can find it. And i can. I can find it but my point. Me actually are less easily duped. Yeah then older people. That'd be more dialed in exactly. Yeah well so. What's the moral of the story. Here it's okay to think about passionate passionate about other things. That doesn't mean that you don't have to do that but don't search that out as your primary focus because it's fleeting in. The first place is realistic to expect it all the time every day okay. Let's not say her name because she's probably as we just person ever and i'll feel bad sort of but let's do read these points. Okay so i'm going to read this. I'm gonna read these guys and then we're going to talk about it i. I won't be able to read all the truth. I'll start to taste the coke in the back of my voice. I just drank twenty minutes ago. twelve essential ways to grow your real estate business. And this is all it's a multi-party take the path lead you to achieve your online presence. Goals build your connections and your overall increase your real estate business point number one julie first of all the past to achieve your online presence about the past to achieve maximum. But okay okay. I'll get your number one have a strategic and authentic branded blog. Wordpress works the best. Okay so a new agents reading this or an agent. That's our age that basically doesn't want to let themselves become relevant. Oh crap. I need to get an authentic branded blog. Noise even then means nothing. Those are just words challenged tack the word authentic on the beginning of anything all smart authentic. It's sudden it's not supposed to be the next one properly place and utilize organic seo tags hashtags within your post okay. I'm going to give you guys a little. We're going to have a little Come to jesus session with with regards the seo their probability especially if you're falling her first piece of advice which is to have happen authentically branded blog wherever that means the second piece of advice telling you to focus on seo member. You're a new age. You're trying to make money. You think this is what you're supposed to be doing. The probability of you getting any kind of search placement in google nowadays with any keyword will ever bring you anything that remotely resembles a real estate lead is zero. That war was fought and won ages ago. So don't believe for a second and if you're thinking well tim you're on what you're talking about. We can do videos. No you can't. The youtube train is long. Sense sailed as well so what. You're seeing an oversaturation on the social channels from our for content but with regards to like seo and google the big boys have those locked up you go in search keyword right now go search you know whatever your market is like new albany. Ohio real estate homes for sale. You look if you have any sort of expertise with regards. Seo look how es essentially credible and look at the page rank. There's different websites. You really think you're going to be able to develop a new website in a billion years and never appear on the first page of google search. And if you can't with any of your keywords. You can't even probably place on google on under your own name. You know tim. And julie harris by the way is a euro that we bought in one thousand nine hundred ninety six so we basically when they first started selling your else so ours is an ancient url and so ours always appears on the first page for our search named but he can't turn back time. But if you were to put your name if you just we're trying to build your authentically branded blog and you're going to put that you're going to do your seo and you're gonna obviously you don't know how you're doing so you're gonna hire someone to do it all so you're spending money on opium you're still never gonna make it on page one. You're just not and here. Here's a little litmus test for those of you are about to without your credit cards to pay someone to seo your website. Ask them how long it's gonna take for you to appear on page one for your particular keywords and if you can't get them to put it in writing that you're not a searchers one through ten. Tell them to give you all your money back. And they won't do it. None of them will do it. Because they're sm- selling hope you that you'll have to spend more on different widgets and more time on it and we'll try this and try that and you'll be really frustrated. We're not done point number three. Three's julie. yes integrate. Your social media networks into your blog. Oh boy okay. I i have to get social media. Networks now making content okay. Who's gonna make the content because point number four post to your blog at least two to three times a week in order to continue to climb the search engines and ensure that they are sharing across your integrated social networks. Okay now. I'm having to as a new agent or returning agent. Believe that i'm supposed to basically not just be figuring. It had become a copywriter right content website. But now i'm supposed to be spending a whole bunch of time different social networking building. Something for the sake of something listing all the time for the sake of something that will never happen right. Invoice huge waste of time. And this is this is the reason julianne. I will beat on forever. The idea that you're supposed to have a marketing based businesses prospecting. Enhance you could do this stuff. But do you have enough staying power financially do you. Can you really wait it out. Here's a little fun statistic for you. Forgive me if i trip on some of the numbers but internet lead generation which is an essence. What she's telling you to do is the least effective it. You'll generate the least motivated leads and there's different reports that are out there. But you again. Google this on average. If you generate an internet lead on average those internet leads will not be transacting for an average of eighteen months. And it's less than two two or three percents. So if you generate one hundred internet leads two or three percent of those and eighteen months. We'll transact even necessarily with you definitely not with you. Probably if you have one hundred people in your list that you're gonna find the two or three that are going to transact with you and tour and they are at well again. Let's just say you're doing a good job. You're calling you're beating on them. What makes you think that they're going to choose to do business with you. They're they're hundred different people's drip campaigns three of might go built totally all three of them have agents that are friends or answer uncle so the idea of investing in an old internet marketing term called long tail leads. Like this is crazy because you don't have the financial staying power. Thus the reason the average tenure of an agent in the real estate industry is has been for years two years. But now we've jillian. I believe it's around eleven months because they're following batted by since not putting them in a place to help people and make money quick enough and they're failing out of the industry now. let me clarify. This stuff is different than you posting. Beautiful video of your new listing. That's different it's different than you. Posting a wanted video to help your buyers who you can't find anything for them to buy well totally different. It's sort of different julia. I don't agree totally. i'm saying you have. That's not for the sake of lead generation. It's for the sake of somebody you know there. You're going to interview for list. Want right exactly what she's real but she's describing now is what you're going to have to in an essence due to placate your seller. You're going to have to do homeselling theater a little bit so that seller feels like you're actually doing something other than what you really doing. This pricing right putting. Mls right in this market guys. You price it right. You put wheat. Hell you price it wrong. You put it in las and a lot of markets sell. Its sell itself okay. So let's since you brought that up. I have a question for you. Act like you don't know the answer all right okay. Because we've gotten we've had interesting conversations with listeners about this before just marketing sell houses. I don't know it seems like it. Should everyone says it dies. He says it does. I have to spend lots of money every month to try and make it work. So you so you not julie harris but somebody else. Yeah you believe that. Basically having a listing on whole bunch of different websites does it actually result in the house selling faster for more money with lease hassle the seller. Does it actually have any positive result. I think a lot of people believe does. But it's been proven that's me you just can't be the no. There's never okay guys. There's a big that's true in any kind of market. I believe this has been tested in sellers markets in buyers markets and different price. Well if you don't have the centralized molest if you were selling say for example private jets are held. Doesn't even matter. You would definitely want to probably do some. Social marketing are different. Way but in real estate you're going to have to realize the mls does the bulk of the lifting heavy lifting for you and it always will so the key to selling real. Estate guys is not marketing. The property marketing the property does not do anything other than placate the seller. And make you feel good because you feel like it's listing tool that said you're walking into the sellers house. You're showing the stuff you're going to do the seller you know. They're not necessarily informed to realize that it's all about price condition location. And i know some of you are mad that i'm saying this because you invest so much money in your Your frankly money period to your listing sold but the reality of what you're doing you're placating the seller that listing would sell probably in the exact amount at the same time the exact same price if all you did basically was the very basics. You're listing agent. All the rest of the stuff you're doing is essentially listing theater for the sake of placating the seller and hypothetically and it does this is relevant attracting other sellers. Yeah you have to have decent pictures indecent discover. Sure you can't just throw up some iphone pictures. No expect everybody to show. Yeah and you have to do a fantastic job representing the seller. But i'm asking all of you to challenge your your beliefs that somehow that's having a positive effect on the cell ability of the property. Because if all you did was put it in the mls you would get the same result as priced and that's true by the way in a buyer's market to You know not just in a hot sellers market. So again i know. Juliana are challenging a lot of your belief structures about marketing in particular but it should also give them a great amount of relief that they don't have to do all this big long list of this marketing stuff in order to get there listing sold and even to. You shouldn't believe that you're gonna get more money for yourself because it's not true. It's definitely not true so it Exposing your listings. On more websites does not increase. The sale price to the seller does not decrease the days on the market to the seller. But it does make you as an agent hypothetically in the position to attract more sellers. And that's the reason you do the marketing you don't do the marketing for this to benefit the seller necessarily to benefit them the sake of placate and their ego especially a more expensive houses but really what it is proving to the marketplace. That you're not just putting him molest. Yeah that's what it is you know but see it for what it is right right being honest right point number Let's just call this point number five. I think include topics of interest such as local community events include short videos. Thirty six two minutes autists all right so now. She's got you doing a blog. Now she's got you basically doing social media now. She's got you doing videos. Does the sound familiar guys and yet not any point so far. Was anything even remotely describing. Having a proactive conversation for the sake of generating listing lead generating in a listing for yourself. So far all of this crap is passive in. It's based on hope you point number six or seven delete. Keep everyone in the loop with the one two three touch system website blog. Social media considered this part of your contact management. Now before you start touching people realize in some states you have to keep your social distancing hold on she's talking about drip campaign exactly so let's talk about that there. I don't remember this was. He was on our podcast. Maybe five or six years ago and we were talking about drip campaigns in this guy was vendor for he. He was a partner at a company that sold. Crm's in the biggest selling proposition of their crm was there drip campaign and i done some homework ahead of time dot a whole bunch of research on this and i found numerous article some of them. Scholarly proven that long-term drip campaigns of any variety are a complete waste of time and one of them was like done by harvard business school and it was studying the insurance industry and it was studying the all these different drip campaigns that were done across different industries differing levels. Just you guys get the gist of it and drip campaigns where proven to be utter and complete. Waste of time now i. Let's go back to the point of these passively generation plants that these people create for you. You're supposed to do a bunch of stuff that's not directly going to lead to elite it's opium-based maybe one day someday. Hopefully and then when you do generate leads then what they're having you do it's torture these people even more by dripping on them and you think you actually believe and you shouldn't that's somehow magically by some sort of miracle of the real estate gods and no we do not believe in real estate. God's we have gotten comments about that before for saying that there are no real estate. God's saying there's a saying something juillet thought of you know we're we're real estate god caustic. But so when you're when you're basically thinking about all this stuff you run this to your own sort of common sense o meter and does it really makes sense do that. Any of this stuff would work better than it being proactively generator. Of course not this. Why did you find this attractive listeners. You find attractive because it doesn't require any skill no contact and talking into it. This is i should have said ways to avoid fear and rejection point one as to avoid it all. You're doing is procrastinating. If not killing your success in this industry if you do realize this is actually more damaging than that because when you spend so much time figuring it out or worse hiring somebody to figure it out for years a punchline coming on coming up i think on it. Go ahead okay. Well i think it's damaging for agents mentally and certainly financially because they can start to believe that it's just because they haven't done enough for there something wrong with them or you know. I think they're believing in the wrong thing. Okay speaking of which mrs sarah. I'm sorry jules. The next point. Mrs harris anymore. It's fine it's important. It's important to utilize the map tracking and stats. These reports will provide you with feedback on what type of articles your readers get the most out of. Okay what who cares. Honestly what do we do. Here are all sudden now. I'm okay hold on. I love an excellent. No no you can't read it yet. This one's too good to go okay. That's point system around bit all right so now so just gets into the business that say before. They were firefighter. I had an email yesterday from a guy that drives. He's a he was very well written and i asked him what he did. 'cause i've thought for sure he was going to tell me something almost scholarly and he works in coal. Mines this guy. He texted me and he is getting his license and he he was. Actually he drives the huge trucks out of the coal mines. That's what he did. He's been listening to our podcast. Rags driving drunk. Isn't that awesome awesome. I know so but so here's listening to this. He's reading article. He's maybe discovering more people that are sort of beating the same drum and he believes three is supposed to do so here. He goes basically hardworking. Smart full potential and ambition and he starts falling this path and sure enough. This crap doesn't work. And then basically he sort of failed out of the real estate business because he ran out of money. And god forbid he quit his job and was families experiencing financial hardship. And here's what this is the insidious part of this garbage. Yeah it's because he now thinks he's the failure that was my point. Yes yes is that it's so damaging that way and it's not your fault. It's absolutely not your fault. It's the fault of you. Know believing in stuff. That just doesn't work and you weren't disturbing enough. That's a nice way of saying you weren't experienced enough to know what to listen to if again you step in the industry and your beaten over the head constantly with this type of messaging and most of our competitors they say this exact stuff you gotta work on your brand and your logo and we make fun of it and we're trying to be snarky about it because we're trying to make a point. This stuff is all being sold by stuff. There people that are just trying to sell you stuff. It's not stuff that necessarily works and you'll get to talk about the next point. I mean there's not even any detail if you wanted to do it single so far about contacting yourself in any way about learning how to sell. Somebody's problem about actually making this. This is a finding somebody who actually wants to work with this. This is the fluff a roadmap to someone who wants to be famous. Not someone who wants to be rich right. That's a dull about exposure okay. International exposure making of which increase your business nationally and internationally agents would necessarily even want to do that by connecting with those outside. Your areas covered. Okay so what old shall we continue. Yes let's continue. We're just not going to mention her. Name okay oh this is. This is only part one by the way see part time to is coming soon. Maybe it will make fun of that one too. I'll read the next one. The more blog posting hold on. I'm gonna have to start doing this. A lot of alley and the more you will receive recognition from being your number one goto aged your areas number one. Go to hold on. So you're telling me mrs guru here that the longer in the more of this kind of stuff that i turn out then eventually the market is somehow magically and missile. Now remember julie and not once. Did i saw house. No no but if you do this enough you'll be seen as a number one go to agents somehow somehow magically. Yeah that's a complete lie that is complete and utter bs. Yeah you will the people that are going to be the ones that dominate the market so ones that dominate the markets. Now are the ones that are getting the things the reason that they're getting the listings isn't because they're doing this or they didn't originally do. This is because they earned the trust in the earned the right to basically be this choice of the seller ninety nine point nine percent of that time. It came from direct proactive contact. It didn't come from this passive stuff you guys have got to see this for what it is and if you don't chances are you're gonna needlessly struggle and when you do essentially hit a financial wall and you fail out of the business. You're going to blame yourself. You're going to blame yourself whereas the reality of it is you're just essentially following through on. Gps coordinates yes. The next point actually is a rehash of a previous point build an increase your online presence through blogging and social media multiple times during the week and at the time when most of your connections are online. Okay i stay to that whatever next point. Don't just leave it up to mls zillow and trulia to bring your buyers sellers and investors by posting a wide variety of articles. You're adding style to your brand. Oh brother so again. Post by posting a wide variety of articles in other words. What she's trying to convince you of is that you can do something passively and all these buyers sellers investors are magically going to find you because you've figured out how to be seo guru and your content is so damn good that it's somehow displacing all the content that's being created for the last decade plus of all the people that have essentially got high patriot somehow magically and your missilea mystically mystically. Thank you would unicorn tears and pixie dust exactly the somehow magically your businesses all to line in your this famous re real estate guru. Not just that. Sorry you're going to be your number one. Go to expert and you know what you're going to do after that. I promise you you're going to become a real estate coach. That's the path. Okay okay by yourself. Apart from the rest they focus on niche marketing showing off your unique selling proposition. I don't even know what that sentence means. Okay so here's how you get buyers and sellers jr call you. You have what they want to buy or sell you had the listing and the buyers will call you and sellers was wafted. They see your sold sign. You have the catnip that somebody wants. Okay here's the punchline ready and do not read her name okay. Here's what she does for eleven you guys want to guess real estate bog or social media expert. You guys get it. This was a sales pitch of someone positioning themselves to be an expert who probably has never sold real estate before and against. She's probably a really nice sweet honestly she's probably really good person but she doesn't know any better self because she's never learned and she took some internet marketing class and cheap again. I'm not in any way. Say she's not offering something that might be valid to somebody at some point somewhere. Maybe and a lot of these guys come off like that also are selling the same exact quote product to insurance agent shirt to other sales people not because they actually sold in that industry but because they've got a package of stuff that sounds good and then i see this round. Xp there's all these guys that have these hobby businesses basically where they're selling people how to generate facebook leads and all this other stuff and all their time is spent essentially. You know this is what you do. This is how you do it. This is the words you right. This is all the things you write. This is the things you do. But nobody's talking about and they'll talk about the generate but no one's talking about their net profit. Nobody's talking about the actual output. What's the actual output. What's the point. Why are you doing this business. What are you really trying to create. You know this. These are the thoughts that you need to really truly have. That's the reason julian. I say again. This is controversial. And i had no idea why but it is when you when asked what your product is. When you're a real estate practitioner. The answer is to lessen to a lesser degree to what the real answer is happy. Customer sold houses. You know all these types of touchy feely. Woo type things. Things are part of it. But what your real product is what you need to in order to stay in business profit wise. Nobody talked about that. Julie because it requires you to know how to get to that prophet because it requires holding the people that you're hiring transform services for you accountable which none of them will be allowing you to do ever and so you see. That's another problem with this type of thing is that how would you ever hold somebody accountable to that right and when you guys try you know i've been working with your company with my seo four months. And i haven't gotten a single league from that. What are those people tell you do it longer. You haven't been doing it long. And the other night watering the right type of. You're not spending enough money. You need to spend more money. Yeah in in. How would the average agent or even human being no difference no way of holding somebody accountable to that. But how would they know like for example when you get that prospecting call and maybe you know from zillow or whatever and zola's trying to sell you leads for five hundred dollars. They're going to sell you. I don't know how many leads and then you're gonna as a new agents. Say well crap. I've got to leads now. And i can spend five hundred dollars and get you know three hundred leads. Some guys listening right now are looking for zillow's phone number to call just because but what you don't realize is leads have no value. You think the most important thing in your real estate business when everyone must have this leads that is true but no not only the same not even close to being the same. And if you think buying a bunch of unmotivated byerly to somehow going to get you into the end zone to profitability your stone cold wrong and again these are the lies that are perpetuated in the industry. I unfortunately do believe at this point that a lot of people that are perpetuating these tall tales. Don't really don't either realize what they're telling you isn't true or they do because they've been saying it for so long they're fearful of actually saying anything different for the it'll invalidate them as professionals because then they'll have to admit that they give you a bunch of bs for the past year so care because they know you're probably not going to be around in eighteen months anyway and they have a nice fresh reaction new licenses. That will do the same thing you did. I honestly probably the gist of it. I i don't think it's possible for someone to sell the type of mickey mouse that we just sold sold told you guys about and not know after maybe a year of doing what you're selling basically smoke and mirrors. No and i think a lot of the people in that space that are not Real estate sales people. I think that they can get wound up in number of impressions and number of clicks. And that some kind of currency versus actual transactions right. You know it's different it and that's what they call it impressions and so guys. Here's i'll give you a little if you were to go into a top producers office right and hopefully. They're coached by joe. I are someone in our organization and you were in the driveway. Sports in the wall. And they're gonna have all their listings because they're following the rules and harris roles and they're all have all their listings up on a dry race board and they're gonna you know have sourced with listing. Came from the whole thing just exactly like we lay it out and you're going to then look to see where the source of the business was if they're doing what we told them to do. You're going to see that like the answer is by the way it's never the social networking or stuff like that. It's that's something that may have enhanced the probability that some that person contacting you but at the end of the day it's almost always from one of the main sources of business and the. Let's break this down for them okay. We said this last week and had resonated with audio so if you want to you can actually explain you. Do it really well. Well where sources of business you have to let us the roof user for as an example. Okay so let's say that you need a roofer and you just move to town. You're trying to figure out you know you've got this leak. You can't wait for the next storm to get this fixed so you go through a decision tree right. The first thing people studied this endlessly in the reports are always the same. The statistics are always the same. So the first thing that you do when you need a service provider whether that's a roofer veterinarian to take care of your dog is the first thing you say is who do i already know. Okay and that's that's the end all be all for like something like eight percent of the time. Let's make personal just so so when we moved to puerto rico we only a handful of people and we knew absolutely no service providers and we need stuff the house the house. We ended up buying which we love is needed a generator. And how do we know we knew. It needed a generator and then like a week. After moving out essentially we were without moving in. We are without electricity. earthquakes neck. The electricity off the entire island so no air conditioning. No electric no nothing. No internet now no hot water right. You get nothing you say. Thank you right so then we figured out well. We need a generator. We didn't know anybody that seoul generators so would do julie. Then do we went to ask. Trusted friends rid visors yet right. Who knows a generator salesperson. And that's how we found. Generator guy in puerto rico. There's this kick ass site called. If you guys are listening and puerto rico which i know hundreds of your now dr thomas and it's basically you have to be a a woman to the site very sexist by the way copy euros to join them but ever right every so every time julie wants to have a looking for a service provider and advice on whatever she just goes in posts donald. That's what she's doing too. So i who do i know okay. I don't know anybody step to. I'm going to ask a trusted friend or adviser. It's not until you've run through that decision tree because probably you either a already know somebody or you've got a great referral from a trusted adviser. Only after that and only three to four percent of the time to people actually respond to any kind of advertising. That's right and and so you guys spend all of your time and effort on that four percent when in fact picking up the phone and making your connections from your you know a lot of a core source of business for all of us should be your database. Your past clients are centers of influence always expanding that for your entire career and then enhanced by other spokes on the wheel so our top producing coaching clients have not just one source okay. They didn't just sign up for some you know. Seo company and and hang their hat on that they have a great database so they talked to they have two or three other courses and it's a mixture but between people they know and they don't know okay so defying and drilling down. What your sir proactively proactive. You know lead generation prospecting based marketing enhanced. Correct what she's describe. Leading with actual honest to god conversation rate. And so when you're asking us for advice and what you should be doing real estate business. I always say. Read the book harris roles but the other thing. I'm always going to challenge you to do the things you're you'd want to do. The least i. And that's learning how to be a proactively generator but many of you don't do that. Baby you've never come exposure to us or maybe you have you just like what we said which is probably often the case. And then you're going to be believing some guru note all just going to tell you some fairy tale and you're gonna believe you can somehow magically by all your business through all these different marketing sources and all the rest of it. And what did they all trying to do. They're trying to placate your fear of ever experiencing rejection. Yeah that's what they know. You want the easy button. They're trying. They're playing into your weakness. That's what they're doing and guess what guys we would make join. I a ton more money if we did the same thing truthfully seldom leads. But seriously i mean for every one person that was willing to do the real work and real estate. There's you know. Easily one hundred that when i just fake it so if we re we would be significantly wealthier if we were to do it. All of our competitor's doing just sell you guys hope him but we won't we'll never will and that's probably the reason we've been in the business for two decades often agents will ask us. How was it that you guys sold one hundred and three houses your first year. A very simple answer. We talked to a lot of people. We talked to more people than the average agent did but talked as in having conversations about buying or selling real estate absolutely and we learned very early to list. I think that's another key factor. We didn't wait and we'd have believed that first year that you can't be a listing agent until you you know gone through a bunch of buyers and i remember people even telling us you have to live on the crumbs of other agents for awhile and you and i are both like some bs. Hey and then you know. We spoke with more people. People specifically hand had their hand up in the air. Saying i have a house to sell. We connected the dots. Wait a minute. we're real estate agents. We sell real estate for living. You have your hand in the area. Have something that you need to sell and make sense that you would talk with each other. And if you have any doubt that people have a craving for actual voice to voice conversation. Look at what clubhouse has done. I the first time you've described that to me. I was like you kidding me audio. Only and it's it's huge right. People love having conversations. You have a clubhouse from an i'm observing and conversations in general or not the same thing's basically i'm not saying that being in generating being in an environment to actually learn from people 'cause just listening to it. It's just essentially a circular mickey mouse mindset blah blah blah. Life coaches all this garbage. That's what a lot of it is. I don't like sounding negative. I don't because i'm not a negative personal. But i don't know how to convey this message in such a way that we can cut through the know we only have these guys for a limited amount of time. Sure and everyone else is going to try to worry about your feelings. I and that's what i'm that's the that's the guy saying that's zeitgeist in society right now. Everyone needs to be validated. Something that might even remotely offend. Somebody and i don't think that's i think that's being very condescending disrespectful to you so if i know something that's bs and i don't say that it's es donate donate essentially kind of full of crap. I am. I will be crap. And i don't deserve the right to basically be of service to you. If i'm not willing to tell you the truth to me it's it's malpractice. Thought of when you said that. Because i agree with that is you know. I had to do a video conference with zoe's doctor. And if he had spent all of his time warm and fuzzy me and make me feel like everything's ok without diagnosing her. I was there to quickly figure out what he thought of her situation and how to get her over her sore throat in her tonsils issues. I wanted black and white. Bullet pointed information. Okay now we're friendly with that doctor and we had a nice little. How's it going okay. But immediately he cut to it and explain some things to me and we had a course of action had he spent anymore time. Go you know trying to make everything. But you're pointing out that his credibility would have dropped a bit for me and you found him because somebody else referred you to. That's exactly right right. And i have referred him so many times. It's not even funny. And he basically is. The reason is a great petitions because he's earned the right to have a great reputation right and he. He has a great balance between being a nice friendly. Good human being but also being very good at doctoring. So if any of you are confused right now. Here's the challenge. I have for you. Go and find out and there's a whole bunch ways to do this. how many expires. There have been in your area in your areas and your entire analyst for the last twelve months and you will be shocked. That's number one number two. Go get a list of for sale by owners in your marketplace. For the last twelve months you'll be shocked. Point number three look for the newest defaults or list pens depending where you are in the country look for the probate listings. Just those four buckets or five buckets just research out. How many sellers there are. There were just waiting for you to contact them. Now hang on first second first of all when you do these searches. Don't do little micro searches and tell me there's no expired. Here's what they even if they only come up. Let's say that there's quote only fifty. They they get confused because they believe that they have to have thousands of leads to get one percent to work even if you only had ten expires in the past thirty days so drove need. You need to be successful at drill on that okay. So if i'm going to do a whole bunch of this passive marketing crap with hope of finding somebody that actually wants to sell this. So if i have a hundred thousand leads right and i might have two or twenty or thirty people that after eighteen months might somehow may one day do a transaction with somebody i know or may if i'm lucky rate so spending all this time to become an seo content writer video writer all this time writing to in the belief that the to generate leads that contact me. God forbid i contact them. Make such a visit. Required skill might get rejected. That i would not survive that emotion. Now i mean i would literally burst into flames if the second i heard the word. Okay okay because i do not want to definitely not i do not want to learn. That skill requires too much effort. It's too scary case. So there's that that's the mindset that you guys are subconsciously dealing with that is what's holding you back from ever becoming anything remotely resembling a true professional so as you're going through this process realize what you're doing is you're just trying to avoid actually learning the skills necessary to be a professional. That's all you're doing overcomplicating it. I have to say you know. Sometimes you guys get stuck thinking you've got to be like a master scripted person to have success. I love hearing. The transformation has coaching clients. Send me recordings of their calls. It does not take that long from for. I'm call number one to seven appointments. Predictably you don't have to be perfect at it. You earn while you learn what you earn while you got so we did that. We had her first year when we were in our early twenty s. Basically right out of college but so. Here's here's the point. I was trying to make so. If if you're you spend all this time all this money all this ridiculous. Bob hope you. You're having to breathe constantly in the hopes that someday some you not you know basically had to eat your cat because you've some you know what i'm saying two years from now you've made it now some of these leads. According to what somebody told you are going to start turning into transactions and maybe you pick up one or two. What's the probably view to stay in the game long enough to afford that. Not just generate more leads. And i'll make the statistics work for me really. That's what you're gonna do. Why waste your time. Why don't you instead of hoping and praying that one day one of the lead you generate that incredibly unmotivated become something why don't you instead call from the multitudes of lists of people who have their hands in there right now saying i have a house to sell. Please help me see here. Why aren't you doing that listeners. I don't get it you only. How many leads do you need to take five listings totally. I mean exactly. You need thousands leaving. It's more interesting in. Most of these guys are blessed with the sell price. The average sale price of the united states. John wayne state by the way in the united states. One hundred and seventy thousand like one hundred eighty three. Yeah you it is now. I think it's close to four hundred. It's like the low-to-mid threes. Isn't that amazing. It's amazing we weren't selling real estate that long ago. either now. So if you if you look in terms of like your average commission check depending on what broker jurat. Let's say the gross commission check on a three hundred and fifty thousand. It's a four hundred thousand dollar sale. Use julius numbers. That's twelve grand in most markets. Still twelve grand. How many twelve thousand dollar commission checks do you guys have to receive for you to basically have a wonderful life and meet or exceed your real estate magic number eight. How many of houses would you have to sell like that. Many of you wouldn't even be ten twelve thousand and some of you are blessed with super high sale prices. The numbers five. Why don't you instead of going through. All this mickey mouse trying to believe all these charlatans and believing that somehow you're you're just there appealing to your desire to be a famous and they're appealing your ego in other words and they're appealing to your fear of feeling. The word hearing anything remotely resembles rejecting. Why don't you set all that crap aside and why don't you instead go to the multiple lists of sellers and just work and earn the right to be the seller's choice. Learn what to say learn how to overcome objections move past urinate fear of rejection. Everyone has that and you will always have a but it just will. It'll it'll hurt in differing levels as you progress with your skillset painful but you always gonna feel. It doesn't ever go away. Sometimes it does you are. You do become numb to it after a while. That is the truth. Yeah but you know what else happens along the way because they made the effort. Is that fear an uncomfortable. Feeling as they make more contact and get better at their company and become more confident. Become more confident. It's so funny. I get these calls all the time we hear it. All the time in premier coaching. You're not gonna believe. I just talked to sale. And they were so nice and they had me over and we had a great conversation. I'm sure i'm gonna listen next week. I had no idea right because they want to believe that it's harder than it is right and even somebody really learning say an expired script. Wouldn't if you knew. And i'm here to tell you it's true that you will have to make fewer than twenty calls with actual conversations using our scripts scripts knowing what to say and how to say swinging not your script that you will together because two years ago. You're like driving coal truck and somehow magically you think you know how to write a sale script because you watch youtube videos patched some things together from things you've found on facebook. That's not how you're going to get into the end zone guys. You have to use scripts that are actually proven to work but if you knew that it only took maybe fifteen or twenty conversations and in some cases even less. I've had fresh agents conversation being a contact. A conversation is contact with the decision making adult about real estate about real estate. Yeah i mean. We've had lots of coaching clients that they're like you're not gonna believe this. I made five calls. And i've already set. My next listing appointments. So what happens is without having to be a perfectionist at the script. 'cause you never will be perfect. Nobody is and you'll you'll find your way what happens is that fear and trepidation melts away and the excitement and confidence takes over. And that's when they get excited. That's when they start to feel. Maybe there's a glimmer of passion now and then because you actually have gotten it together to the point where you can predictably and duplicate ably create more business for yourself more income for yourself and your family closer to your goals. That's when it gets really exciting. You're not gonna find that if you don't take those steps you can't skip that and which is what all these people trying to say. You crap know that you want to skip that. Or maybe they don't because they never actually sold real estate or sold anything and they took the marketing some crash courses marketing gimmicks to people. And there's a lot of people out there that's their business selling other people how to sell mickey mouse just like there's tons of businesses out there. That are teaching. You guys had to be experts when you know in your heart that that's not what you are because you haven't earned the right to be an expert. You haven't done it enough to be an expert and yet you're lying to the marketplace when you say you're an expert at something or a coach when you've never actually done it and that's the reason you feel. Oh here's a trendy word in authentic because you are you having earned the right to be authentic. Help the clients that might fall into somebody's lap. Who claims that their number one when they haven't done anything. How crappy is that brickley ship gonna go. Yeah well so look guys you have to earn. Nothing comes for free. There are no shortcuts. There are lots of people that will tell you. They're shortcuts and maybe you buying their product. Is there shortcut. 'cause they've got you to buy whatever it is they're trying to sell but the reality of it is in real estate and life in general. If you do want ever-increasing long-term levels of success you really just simply have to accept the fact. It comes on the other side of doing what you don't want to do when you don't want to do it at the highest level so anyway this was again we started today's sunday show with no particular agenda but i guess i was truthfully fragging. Yeah from all the emails in the conversations. I've been having people who are basically being loaded up with a whole bunch of misinformation and i have to d program them help them see in your the funny thing too is. I have never had a conversation with someone where we present our perspective and all this were they were. They don't say anything other than the something the effect of you know. I thought the same thing right. i kind of knew. Thank you for. Validating my suspicion right and and it again. It's easiest with the millennials because they know a lot of stuff snarky but when you're talking to people that are like i'm going to do it just because i've been doing it for so long and i don't wanna give up on doing. I've got ten years invested in these postcards and my social media campaign and you know. I got five deals from last year. And you know that somehow maybe paid for half of them. Okay with not paying for your time but also the other thing that's done. Is this get caused you to be complacent about ever learning how to do the real work of real estate and that's again mean we could rally against all these topics forever. But if you look at these long term drip campaigns. Why do you guys brag about how many people you have in your drip campaigns. Why is that somehow become amongst the real estate zeitgeist. Why is that somehow becomes something of a badge of honor. I've got five hundred people you fool. I got five thousand. Why is that something that you guys are proud of. It doesn't make sense. You should be proud of closed transactions. You should be proud of basically having helped solve someone's problem. I e selling or buying a house love hearing low numbers that are very. Well vetted in prequalified. I love having calls with agents. That say you know. I've got five really qualified. Super-motivated people and here's the situation. Here's their motivation. Timeframe and the date we're gonna launch that listing. I would much rather hear lower numbers that were much more highly focused than two thousand people in your drip system. So when you have somebody ask you if somebody asked me about what. Crm with drip campaigns. They should do. I immediately realized that they don't have any clue on how sales really actually works. You should never have a bunch of leisure chasing if you have a bunch of leads. You're chasing that means you're generating a bunch of unmotivated leads and unmotivated leads or no better than just a you know a list of people from your neighborhood directory or if you know what a white pages is right. Just drop a fourteen pound white pages from thirty years ago on your desk that an essence is what you're you know you think has value. It has no value what you want to do quickly. Except what we're saying is true and then move past all the monarchy and just spend all your best efforts every day with the people primarily sellers who have their hands in there and saying yes. Please help me. It's actually easier totally well. It's harder because you and i are the only there those guys. All these agencies are listening to us right now internationally by the way. They are caught in a echo chamber of envisioned. This huge cave in everywhere. You go you're hearing people basically say the same thing and so you think it's true sure went to believe it's true because it sounds easier and it feels better than frankly will one of the things we asked them to do right. It's the truth logical. It's not their fault. No basically well anyway guys. I feel defragment about you. So what are you looking forward to this week. Goodness lots of fun. Facebook live sessions. I think should be good. I've been really enjoying those so facebook. Live do hypocrites because we're talking about facebook. But basically for our members of their premier coaching members. All of our coaching programs are coaches. And julie has been enjoying doing it so she still wants to keep doing. It is doing the daily Usually runs forty five minutes to an hour of our semi private coaching call on facebook. Life and the feedback has been wonderful to. We're handling your real questions and situation live live and we do a lot of strays space. We do some scripting working on the work. And what i love about. Those sessions is that by and large our premier. Coaching clients are not in getting ready to get started zone. Most of them. I mean there's a few out there But they've read the book their plans. They have their scripts there. The questions are about actual business versus you. Know can you fix my mindset and tell me what to read and what. Listen to their. You know they're in the thick of it. And it's i mean it's i'm so proud of how many of them are having their best years ever the beginning of this year but rounded out of really kick ass your last year in spite of the pandemic. So you know something. Here's what's interesting. And as i do want around the ben because i want to go to the beach take but here's the interesting. I know right now that after this podcast we're going to get a fair number of people say they really appreciated the podcast and you guys should always tell us that because it tells us whether we're on the right wrong path with you not the frankly we're going to listen to too much criticism about our content because most times people that are criticizing. Haven't been in the business long enough to have valid opinions. Your opinion is not the same value as someone who's been in the business for a long time in any aspect of life. So i know that again against the current zeitgeist because that might hurt your feelings but it's also true. You might have an opinion. But it's not gonna be worth the same as someone who's been doing it forever so when we do get your feedback. The feedback generally speaking after this podcast. Jalili you intentionally trying to be motivational. I i don't think yes always on all podcasts. At were you know we didn't say a single raw mindset motivation an inspirational. We weren't reading off any old tawny robbins quotes more motivated by factual practical and tactical useful stuff. So this is the tim. And julie and i know you guys get it is a lot of you. Do feel motivated after listens to our podcast and reading book and whatnot. Not because we are trying to manipulate your emotion through using nlp and other cleverly crafted scripted messaging. That's designed to emotionally. Cause you to invoke some sort of temporary feeling. We don't do that. that's not what will ever do. But your feeling motivated. Why because we're giving clarity to your thinking and we're giving you a sense of direction. That's the same amount you have when you're an action trying to help sellers. That's what happens when you're an action. We are giving you things thoughts that happened while you're an action. We're not trying to prime the pump and work on your mindset and try to help you find your big y and help you try to find your passion. No you get all those emotions emotional responses as your an action helping people ultimately all of us had the gray census aspects. and then you do essentially. You'll hear these words and it might ring hollow but as you become wealthier. Hopefully you'll know what i'm saying is true. You get your levels of satisfaction life by helping people in the more money you make the more wealthy obtained in the more financial independence. You have the more you'll want to help people the exact that is the way it works the more you have the more you want to help that and so you know that's a gift from god really and our highest truest purpose and what all of us wanna do. I assume the only exception would be if you're mentally ill. You're sociopath or something truth way as you wanna be of service other people you want help people and so we're giving you the pathway to get that emotional response that you truly want which is being of service other people you have to earn the right to serve other people and you do that through skills and you do that through applying your skills and you do that to through applying. You're still successfully so you then help one person then thousands of people when you do that guys. There's no end to the level experienced a wonderful experiences. You'll have in your life couldn't have said it better. Thank you so listen guys. Listener normally scheduled podcast. I have to say though if there is one aspect of my work day is that i do have some occasional sparks passion. It's doing this podcast with you. Likewise yeah i mean other than that. It's pretty damn boring. Can't be honestly in this. Podcast is the only. I actually really feel when we're doing writing together but other than that. It's it's working in the post office every day. That's why it's not called vacation. That's right and that's something else. That's reason our businesses been successful. So long is because related. Sure probably made you think you guys are fantastic. If you want to get a hold of me for anything texts me five one. Two seven five eight zero two zero six five one two seven five eight zero two zero six and yes of course jillian. I want to personally sponsor you at xp royalty so if you're looking for a sponsor if you've already selected one do give us a shot text me directly at five one two seven five eight zero two zero six. Have a fantastic day and we'll talk with you during are normally scheduled less. Would you call the word spastic podcast tomorrow.

julie harris julie harris julia reid julian sarah sacrifice amazon adam hauser julia google julianne jillian Mickey mouse ted treasury
Podcast: Warning: Don't Listen If You Aren't Ready To Be MOTIVATED! | Tim and Julie Harris

Real Estate Coaching Radio

34:08 min | 8 months ago

Podcast: Warning: Don't Listen If You Aren't Ready To Be MOTIVATED! | Tim and Julie Harris

"Welcome, to real estate. Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris Real. Estate Coaching. Radio. Is The nation's number one daily radio show for realtors who demand authentic. Real time coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim, and Julie. Hairs. Three to one, and we are back h elite September tenth. Yes. Indeed we are on round two of the afternoon caffeine. So should be good show. That's right. I. Don't even know how many milligrams of caffeine we take in per day but I'm not going to start adding it up. Well, Hey, congratulations for five days from being married twenty nine years congratulations. It's Kinda. Thoughts on. Don't you think it's not. Yeah it is. It is. I know I had Let's see coaching clients morning. Tell me that she's celebrating their twentieth I believe should this weekend and she got married when she was twenty and then that caused me to do the math like I'm really that much older than her. You remember when you and I are always the young people I know I know when we're starting out grow that the heart rate and Howard Britain when your heart's in were Howard stars, Ninety s people would be like. Are there enough to have ever sold any houses you know? People would always like deleting thing that they'd always attached to us was our youthfulness, which is because we were. True s because we looked like kids when we weren't necessarily children anymore. Especially yeah that is true me especially but here's the funny part of all. But now it's very rare that were not one of the older people in a room and I kind of like it. I do so listen guys. We have so much to celebrate this going on the industry right now, I hope you really paying attention to things that were passing along to all of you in. If you needed a little bit more amperage in your enthusiasm, try this one on for size mortgages thirty year fixed rate mortgage is now are well below three percent and it appears based on what the Fed says that they're gonNA keep mortgage interest rates low for at least the next five years, and here's the thing that that creates is an overabundance of opportunity. In every way possible it there's no argument against buying a property market like this. If you qualify for with interest in, you know doesn't matter seller's market who cares because at the end of the day even if you're overpaying slightly based on. Historical trends it doesn't matter if you're getting the money to buy to borrow the house, it's such a ridiculously low rate, and here's the reason why ultimately assuming all the economists out there are right that we're going to be experiencing some inflation and housing another asset prices. In the foreseeable future you're going to look at the house that someone buys it maybe there little sketchy about because they think they're overpaying, but because their interest. Rate is like two point, eight, six percent or two point seven percent or whatever, and but the house appreciates or inflates by more than that they're looking at basically free money on that house. So it's kind of bizarre time in frankly in real estate, the purchase price matters almost less than the money the cost of the money assuming one is borrowing, which does even add even more confusion to the whole thing, Jillian. I've been long-term. Essentially for literally for decades believers in basically carrying no debt in paying off mortgage isn't doing the whole thing but after say We even talk about that and our best selling book Harris. Rules. Because guess what if you have lower if your overhead is low and you have? All your stuff paid for you really don't the financial burdens that people will experience. The market changes aren't really your problem. Well. So that sounds like it's a good balance sound footing for our theory on paying your debt off the Dave Ramsey approached. But if you can borrow money at that low of a rate where the payment on a nice house going to be less than what a quilt, what rent would be, you'd be crazy to pay cash for it. You know which flies in the face of our conservative nature when it comes to fans is. That, you would also be crazy not to be having these conversations with your entire database. You should I mean, honestly, you should feel horrible if you're not telling the people you know about this that's right. You're not doing your job. Your job is to be a real estate professional that knows about this kind of thing and many of you search very, you know use the excuse well, I don't know what to say from calling a pass client. We just told you talk about this. There are so many people motivated to do things. Now, because of this people who otherwise would not have bought, I sold second, absolutely can swing it now when the payment is so low way figured out a payment based on a half million dollar house twenty percent down with taxes and PM. I was still less than three grand a month mean you guys need to be talking about that? Use The examples And show them you know the math I it's kind of inaugural when you agree I would. I was just wondering if you know how to turn off an I watched by just figuring out. Well messing with, buttons. You know what? I, what I love apple products across the board but I look I watched sitting at my desk every day and I realized that I just had to knock about exactly. We're not wearing them. So I, think maybe just old enough that the I watch ideas and something you're going to be able to adapt to don't get it since everything's on your phone anyway. But look. So look guys bottom line is this is the time of year where it's hard for most people to have real. Good motivation because there's so many sort of I guess socialize headwinds especially in an election year you have holidays you have natural. You know not wanting to work as hard when the weather starts to change physiological things start to happen when Jillian I sold real estate and Ohio and trust me when I tell you. It's very difficult to be motivated when the skies are gray in the snow is falling and you know basically earlier is right gets dark at two thirty in the afternoon while that might not. Be True, but you guys get the the idea? Well so that is going to be something everyone even if you're in southern California down here in Puerto, Rico or Florida everything changes this time of year and it does sort of push-back emotionally on your enthusiasm in your energy and if you feed into that, if you're not consciously aware that you might be losing some momentum this time of year, you pay the price dearly in the spring of the following year. So now more than ever you need to. Be Pushing hard and you need to be focused on what you're beginning of the year is going to be and that's the reason we beginning of next year, right? That's the reason we've been focused so much on motivating you this week and then hopefully educating you and getting you guys into action. So along those lines Julie, we have a couple points we want to finish up for these guys. Yes. If you missed the previous ones get caught up on our podcast because this is the continuation commercial commercial break. I was actually. Mentioned this yesterday. So we have officially launched our national real estate team at something that join I've always wanted to do and because with our affiliation with XP Realty and the XP's licensed in all fifty states license in Canada their licensing. Portugal France I mean all over the world. Now India well guess what we can start a national team I and we're going to start an international team and we'd like you guys to consider joining our international real estate team. This is not a coaching program. This is a real estate team. It's something we've wanted to start again but like I said unless we because of the XP, we can actually do do it the scale, but we wanted to do it. So if you guys would like to join our national real estate. Sales team and it's just like it sounds you and this is where you will be in. We'll help you sell houses take listings directly as being part of our real estate team and we're only gonNA, announce this now and then because we're not looking for that many people frankly text the word team t. e. a. m. text the word team two, three, one, nine, six. So go ahead and text the word team two, three, one, nine, nine, six, and then we'll text you back link and you can go to the website. And read about the information about the team and then fill out the application. Then we'll follow up with you. So go ahead and text the word team two, three, one, nine, nine, six, we won't be talking about this the national team that often 'cause like I said, we're just looking for a few good men and women and were we don't want oversaturated. We know we have a lot of listeners on the coast, lot of listeners, Texas and things like that, and we don't want to have dozens of agents in those markets. We want to keep it. So everyone has frankly everyone has an opportunity to get as much benefit as being a part of our team as possible. So do texts word teamed two, three, one, nine, nine, six. Yes. So point number eight, know that everything takes longer than you think it should some of you are very clear on this other of you have not yet embraced it momentum takes longer the larger goal and the consistency of the effort applied. So in order to get to momentum you have to, I make it through. The first two stages of mastery. The first one is formulation getting ready to get started. Some of you love that and you ruminate in it day in and day out but you don't get to the second part is the second part harder it's called concentration. That's where you go through the learning stages work work work where all of my leads work work work I've got leads where my Appointments Work Work Work I'm going on appointments, but I'm not taking them. This is where you have to actually do the work because without. The stage, you'll never make it to momentum the reason you guys fall prey to the easy button and all the things lurking in your email and voicemail and tax with people trying to sell you crap is because they know this about you they know that you like to avoid the real work of real estate and you would rather give them a credit card that actually learned something that will continuously feed you no matter what no matter. What type of market price range neighborhoods state you live in this is giving you wings. Will Not. But you cannot skip concentration people try it all the time. I just want to get into momentum. It is interesting that people would rather risk money waste money knowingly than they would risk their ego isn't that fascinating because at the end of the day that's really what's at risk with when you do business. The right way is your ego because your ego is going to be uncomfortable your egos going to have to be willing to do it doesn't want to do and it doesn't WanNa do at the highest level. And I get it. If you're not very good at sifting and sorting out your input information if you're listening and reading all the Yahoos out that are trying to sell you easy button ideas you're going to think that that's the way supposed to be doing things, but it's not they're just trying to separate you from your money to sell you something that they know you're going to find appealing because it feeds into your desire to never do you don't want to do when you don't want to do it at the highest level. Sometimes you guys are confused about that because you've only been in real estate long enough to essentially to think that it's normal to buy leads it's abnormal to buy leads. Well, it's normal by Lee. If you don't play on being in business for very long or you don't plan actually having a prophet based business, then it's normal you can buy leads until the cows come home but guys at the end of the day. If you want to everlasting essentially a real estate practice that produces consistent profit and that profit, you can reinvest it into assets will produce Well for you know basically your goal should be rich and that's where your. Money works for you. You know how to work for your money isn't that Nice and you could all accomplish it in this lifetime. Well, how about this guys it's going to have to start with the idea that buying leads as goofy you'd have to earn Your Business and you have to do things that make you uncomfortable. So the litmus test to the filter, you should be running everything through when you're thinking about buying something is, are you buying this because it's going to basically solve a problem that you know should be solved through doing real work in other words? Are they trying to solve the problem usually lead generation? Have you nurse that? That's supposed to replace doing the real work is buying the lead or buying leads from this particular source supposed to be a avoidance of doing the real work, which in our case would be learning how to actually proactively generator. Yeah. You guys. There's so many different levels that you are tempted by on this when you say well, maybe I'll just have a va do my lead follow up or maybe they can prospect for me. That's still avoiding the real work and you know what's worse than with the whole buying leads things I've seen agents that because they don't know. That there's another way and because the quality of and quantity of the leads are so crappy and they're not even your leads. Everybody's got the same leads they actually start to believe real estate is harder than it is right because they've had to talk to so many people and get so much rejection from that and have it not work out because the quality of the leads, your oftentimes not talking to people ready to do anything right away. So you throw them in your drip system and pray to the real estate Gods and because that doesn't work yourself dripping does not work. People don't. Folks definitely not especially this is why we have masks now so. That'd because that stuff doesn't work at least not consistently your predictably duplicate ably, they convince themselves that this is how real estate is and it's just gonNa suck for them and it's too hard and you people are mean no, it's because, yes, some people are mean but most of the time it's because you're talking to the people weren't actually ready to do anything and then you throw them into your system I talked to somebody today that's that was basically given a. Collection of leads twenty, six, hundred. Okay. Who should ever have that many leads that's insanity and you know what? Most of them didn't even have a phone number they were just thrown into this drip system course. I mean. That's pretty but see how you guys are actually being taught to believe that you don't have to do the real work of real estate. Do you see how people are telling you never have to learn how to basically be a proactively generator? You never actually have to learn how to prequalify percent there. You guys are believing alive, but here's the deal you know you're believing ally and your ego is saying Oh yeah. Let's believe that lie because. Your Ego, your ego sounds like this. In case you didn't know you. Never have to be uncomfortable, I never have to do it. I don't want to do and I. Don't want to do it I. Never have to pick up the phone I never have to rejection. I. Never have to learn how to compete I never have to learn how to be a professional I never have to be in a situation where someone makes me uncomfortable, right? Isn't that what your ego wants you to believe and guess what all the fairy tales that are out there people trying to sell you stuff. They want you to believe that gets us what they got stuff to sell. This is the bottom line. This is discernible difference the biggest discernible difference between what Jillian I do and what everyone else does and I hope you guys. Are, not being offended by US being this direct with you because it's incredibly during fourth quarter rolling into next year that you don't waste your time and you frankly don't waste your money on silliness. That's right. So point number nine stop looking for reasons to be complacent know that you are not too old too fat too thin too young to connected to unconnected educated over. Educated, under educated fill in the blank stop looking for those reasons to be complacent that's just more ego stuff. Okay so Julie. Estiteh actually go to deal with something right now and I'm going to finish up. So along those lines guys, here's I want you to consider. I'll tell you what she's doing. You guys will appreciate this. So we are podcasting and our Home Office. Here in Puerto Rico and the Homa not in the Home Office. But in the foyer, I don't house describe it. There's this. Big? skylight. It's a series of skylights but again, I, don't really know how to describe it but this is Puerto Rico. Puerto, Rico's occasionally hurricanes and so these skylights or these rather large there may be three by five. Portions of rectangles, rectangles, shaped glass. There's eight of them together. Well, two of them have huge cracks in them from guess what Maria, the hurricane because what happens during hurricanes? Yes. Pineapples become projectiles and they knock out windows. So when we bought this place these two. skylight glasses had these pains basically had these cracks in them, but they weren't leaking or anything. Well, you know turns out that whether or storm proof glass is something like a an inch or three quarters inch thick and it's unbelievably expensive. No. IDEA. So anyway, they're coming out right now to measure for replacement of said pains for fear that there might be another hurricane, which inevitably there will be because we live in her hurricane alley down here in Puerto Rico, and in that case, then obviously another pineapple hitting in their inopportune spot, we could then be dealing with an internal rainstorm which we don't want to have so such as the way living in paradise. I guess. So guys look. Here's the bottom line with regards to what we're trying to teach you in. As far as you know motivation whatnot true motivation doesn't come from you waiting to feel inspired gives you a certain feeling right the epiphany that all you know how often do you actually have that Aha moment the epiphany it happens incredibly rare and the other thing is like so many of you won't take action until you feel a certain level being inspired, you wait for external motivation. Everyone loves somebody that can motivate them. You guys accused us of big and put a patient all which I appreciate. But we don't try to motivate you. We try to get you into action because we know ultimately that where you're going to get the motivation isn't from like you're going to get a little and shot from Julian I have motivation but that's not really what you need. What you need is you need the motivation that comes from long periods of doing what you don't WanNa do at the highest level. Now. Julia was giving you guys the example of getting ready to get started and actually not following through or not staying the course long enough everything worth having in life takes a lot longer. You think it should anyone who's been on this planet for more than you know two seconds knows that is absolutely true right? Wouldn't it be great? That wasn't true but it's definitely true. So here's a thought for you. I want you guys it's an analogy a story if you will I, want you to picture a plane. And you're the pilot of Said plane in the plane is you know it's a, it's a seven, sixty, seven or something, and your job obviously is the pilot you you're the pilot, not the Co but you as a pilot still have to make sure everyone's doing their job. The copilot's doing his job luggage getting loaded the food is getting loaded the pastor all. The whole thing, right? That's your job. So it takes a while to get the plane in gear turning around plane getting everything clean and loaded and getting on the mechanics up to snuff and everything's there a lot of getting ready to get started. That's what basically happens between flights getting ready to get started not dimension all the time that took for you to even learn how to fly the plane, which could last a decade. So there's a lot. Of Getting Ready to get started leads up to the the your ability to take that plane up in the air and reached cruising altitude. But here's what many of you do. You will load the plane you'll load the fuel you'll the plane if you're from Ohio July, you'll do other things necessary to get that pasture plane up in the air and then you'll start hitting the runway you'll go to the runway everything's good you're clear to take off And I want you to imagine you're sitting on in the pilot's seat. You're you're looking at all your gauges everything looks great. You've made all the right moves you're on the runway you're picking up speed, you're picking up momentum the plane is starting to shake rumble enroll. You guys have all experienced that before. So then what happens is that that's where most of you guys are many of you take long time to even load the plane even to the point where you can taxi to runway sometimes it's weeks sometimes it's years you know who I'm talking you know what I'm talking about. Once the plane is on the runway then what happens you then say okay now I'm actually going to. Take up I'm done getting ready to get started, and now what I'm going to do as a throttle down, I'm actually not sure if you push the throttle forward or back on a plane whichever direction, I'm actually going to increase the energy necessary to get this massive plane off the ground, and then that's what you do. While you hit the runway this is where most of you guys get in when you're trying to build momentum especially in real estate, you get to the point where you're on the runway we've made the initial moves. Now, some of you I get it never even get to taxing, but let's just assume you know you have your taxing. Now you're throttling down or throttling. Headed toward on the runway, you're trying to get the front nose gear off the ground. You're trying to get the plane to gather altitudes you can get up to cruising speed. Now here's what you do many of you. You'll be cruising along the jet the jets getting ready to take off front landing gear starts to pick up then all the sudden, the back landing gear. Starts to pick up, and then what are you guys? Do you say you know what? This was too much work this is taking off that I thought it would forget this. This isn't GonNa work for me. I'm GonNa go do something easier take the throttle off plane comes rushing back to the earth. Nobody's hurt no worries here and but boom that bounces on the runway and. Here it is the plane almost took off but you quit before it actually started gaining any meaningful momentum. Isn't that happening a lot of times in your lives with virtually everything everything from losing weight to gaining weight to saving money to paying off debt to forming meaningful relationships with people you WanNa have meaningful relationships with learning skills. Hey how about that to be a masterful? Real estate agent doing all the things necessary. You guys. You get to that point where you're about to start reaching altitude you're about to start getting momentum to actually get to where you want to go, and then you've basically back-off often does that happen in your lives I know the answer from coaching agents last twenty years happens all the time now Julius back. Welcome back I. I told them that you are having the window measured because of the Pineapple Express that occasionally blows by our House Right. So then what happens, let's say, for example, the the plane you take the throttle off give up, you say you have to do you have to taxi back to where you started and then everyone wants the hell off your playing because they realize you're not a very good pilot. You then basically are getting ready to get started all over again and then many of you guys do that over and over and over again, you getting ready to get started you're on. Motivated somebody's juiced you up. You're ready to go and then all of a sudden, you'd make all the right moves you're telling the world you're going to do it and boom. You don't do it because you give up too soon. Now, some of you will actually give up at a different point. You'll actually be in the jet you won't give up you'll actually keep the throttle. Down you'll start to reach cruising altitude. You'll get to the point where you're passengers looking out the window and everything on the Earth looks like a million miles away here. Maybe what seven eight maybe ten thousands of be. You're not Christ cruising altitude. This is a long distance flight you're piloting here, and then what happens tell you as a pilot you know what I just don't know. I think I'd rather drive. It's too hard sticky too long and you give up again and then you're back to where you started again and your back basically on the runway taxing back to where you started again and again and again, and again, how'd you stayed the course? Had you continued with the throttle? Had you continued to put effort and had you continued expend energy? You would reach cruising altitude and at cruising altitude which is. Depending on how long the flights going to be twenty thousand feet eighteen thousand feet thirty thousand feet at cruising altitude non this is actually an interesting fact it's easier. The plane uses less fuel at cruising altitude. There's less turbulence in the air and the air is actually allowing the plane depending on what's a distance that a jet? Jet Stream is going. You can actually pick up momentum when you're at cruising altitude. The pilot. Then post back on the throttle at cruising altitude and everything gets easier. The plane makes less noise. Passengers can relax a little bit. They start serving drinks. Out, when when the pilots come out to use the bathroom, right exactly they close the door and the planes still flying on autopilot. But that's right that's cruising out to cruising altitude where the pilot can come out and have a p have a cup of coffee right. Talk with the waitress or talk with the waitress waitresses talking to steward and stewardess is a little. Strangely the passengers are okay with it. Yeah. We're like, okay this is good. We're cruising altitude the rocket in the role and you know a little bit a little choppy were above the turbulence things are happening. We're getting to where we're going and you can stay cruising out to guess what guys for years and cruising perfect cruising out to where you got your skill set locked in where you know what you're supposed to do. You're following a schedule you're disciplined you're professional you're not relying on a lock frankly for your success you're not buying leads you are locked in and you're going somewhere. And that's momentum and here's a cool thing. You might get to the point where you're ready to go to the next level financially physically mentally emotionally you know all those things and now going back to the plane analogy, you want to go to the next level. That's fine. You Go back and you apply a little bit more fuel than. Throttle upper thrill down again, you go to the next height the next. And you can do that in real estate. You can do that by for example, maybe you determine cause you complete your real estate treasure map, which is one of the first things we do in our coaching program. Your real estate treasure mouth and essence is determines how many listings you need at all times we meet or exceed all your financial expectations might be five listings. Might be ten listings and might be twenty lessons nurse. I did not say branding buying leads, teams, logos, websites, it listings, number of listings you need at all times that's where you get consistent cash flow. So once you determine what your number is and you can do that combined complaining the real estate treasure map. Then you if for example, the real estate tractor dramatic you. Say, for example, five listings at all times. You have nice sale price. You know approximately because you've done the math because we've shown you how to do it your three cell per month your average commissioner save fifteen, thousand dollars making forty five, thousand dollars a month forty, five, thousand dollars a month basically meets and exceeds all you're you're paying your taxes you're paying your overhead and you're saving right? That's a for example. Now let's say. You want to move to a bigger house or you WanNa buy another house or a boat or maybe one of by your own Damn plane. All you've gotTa do is recalculate the magic number of listings you need at all times, and then you just increase the effort in to the point where you're consistently handling and holding that number of listings. The media exceeds your financial expectations. You do this guys, and then you can control the speed in which you. Essentially climb to the next altitude and you can control virtually every aspect of your life. Certainly, financially, I got news for you. If you're a controlling your financial life, every aspect of your life in addition that is also magically in control. When you got control of your money, you'll be shocked how much easier it is to have great relationships because there's no financial stress to have essentially great health because you have time to exercise, you know all these fallacies some. Of You, guys have been led to believe that things you have to supposedly sacrificed financial success. Those are straight up is you literally can have better health and better relationships and it starts with not having on money anymore. How much of your stress that seats out of your pores is related to the fact that you have to hustle for cash get to the point where your business is a real business and you're gonNA find you're gonNA reach that different. Level of existence that is the real estate magic number, and that is what we want. All of you guys to experience freedom, and that freedom only comes from that ability to control it. I love that you you. You know did the full story of getting to the control area because so many agents feel. So out of control all the time and they blame the business, it's not the business of the industry. Oh you know real estate is just like that. And you're told that by some people, you know some some of your colleagues that are ten twenty years down the pipe from you. That's just how real estate is used to have to learn to accept it. No, they've learned to accept it. You don't have to because you can get into that control. You can get to that cruising altitude, and if you want to go to that next level, you do exactly what the pilots do you fuel it up. With more fuel, you pack it up with more food. You staff it up with more people if you have to, and then you have that control and you can decide you know maybe you don't have to do fifty deals a year maybe you're completely happy at twenty deals a year, but you have the option to make those decisions whereas when you don't because you're spending time, you know re landing the jet every six months or so retraining yourself freaking out. Your passengers we keep on doing that. Then you'll never be control goes back to also fall one course until successful right focus and that's the core discipline that you guys a lot of you are confused about because again, you're listening to I was about to say fools, but I don't want to sound so harsh but no, you're listening to fools give you bad advice people are telling you. You're supposed to be doing all these non-productive thing simultaneously hoping and Praying Somehow magically you're going to have some sort of consistent financial result. It doesn't work that way. It just doesn't, and most of the things you guys are attracted to have you noticed are the things that require no or low skill and virtually no rejection. So in other words, your ego is telling you always you should be looking for the easy button. Your Ego is telling you oh, avoid rejection all cost your ego is giving you really crappy financial advice. You want proof. Okay. Here's the proof. How old are you and are you where you wanted to be financially at this point in your life raise your hand. If that's if you're exactly on track, everything's just right as rain where you wanted to be financially chances are nobody and there's tens of thousands of you that will eventually listen to this show have your hands raised. Well guess what your closest financial adviser has been your ego and that it's not qualified and not qualified person that EGO needs fired because they're telling you it's a hack they're telling you to do the wrong things right so here's the thing I know is true because I've been doing this for so long is intuitively you know we're saying his true intuitively, you know Jelena's. When we say in our book we on this podcast, we say on our coaching program you know what we're telling you is true and yet I know that probably maybe ten percent nephew or actually going to internalize the information we're giving you in do something with the information I'm not naive to believe that we're going to be able to help all of you even have an influence on more than maybe maybe maybe if I'm lucky fifty percent of you but I do know that only ten percent of you were actually going to take it seriously and do something with the information I can't change that I can't because. Ultimately it all comes back to you and your willingness to set aside your ego and basically focus on essentially doing the real work of real estate doing what you don't want to do, and you don't want to do at the highest level Julie. Anymore points. That's what it gets to. You just have to kind of suck it up buttercup a little bit for awhile and get the skills going and have a little bit more patients with yourself don't give up so quickly and make sure that you're taking advice from people who have you know actually sold real estate instead of people who have pretended to of course, they wouldn't teach you to do. The work of they've done it. So it does make a difference in your trajectory saves you from having to really in the plane year in and year out and feel like there's something wrong with you. There's nothing wrong with you except perhaps you need to work on your skills. The thing is the fast you get working on that the shorter you know the path is if you can drag it out your whole life you want to or you can just drill down and say you know what? This is the year that I'm getting it together. This is the year that I'm going to learn scripts I'm going to actually prequalify year don't do it. Okay, month now right now, but you're gonNA actually. So many problems I hear about from coaching clincher because they never prequalify anybody they try to how to it's not occurred to them. Nobody has shared a great script with them. They try to close without having done a presentation. You know there's so many the there's only maybe five or six things you've got to really conquer and we talk about all of them in the Harris rules book what to be good at what to be great at and your life will change. You'll be at cruising altitude. It's so fun to hear from those clients. You have calls like that all the time to. Where they're like did yeah. But sometimes, we have plenty of calls where they're like I can't I had a call with an agent last week she's like I can't believe how I have basically no overhead all of this, and she's having like the biggest quarter ever she goes after I pay my taxes I get to keep all this. I can't believe it. You know and she's going to have a really great quarter. So anyway, get cracking get to work make. Make Hay while the sun shines because now, as your time education motivation notes you guys to get into action all starts on the other side of action and unfortunately it's going to start in the action. It's GONNA be required. It's going to require you doing some ego crushing activities. And you got to do it. You don't really have a choice. You do have a choice. You could be one of the eighty-five percent of all agents that fail within a year and a half. There's a stone cold back. That's really depressing the asked me. So don't join them right decide that you're I if all the GIMMICKS and all the easy buttons and all the teams in the bland branding the buying of lease if that stuff worked, you really think we'd have that. High failure rate does that even make sense to you guys. This industry would have that kind of a washout rate. If all of those easy button gimmick things worked of course, it makes no sense and of course what we're telling you the truth it's up to you whether or not you're willing to listen to something with the information. So guys listen if there's ever anything we can do for you. You can always text me at five, one, two, seven, five, eight, Oh, two. Oh, six. Five one, two, seven, five, eight, Oh, two Oh, six, and if you are interested in joining our national real estate team I'm probably only gonNA announce this. Talk about this on this podcast and I probably won't talk about again for a long time just text the word team two, three, one, nine, nine, six, text, the word team two, three, one, nine, nine, six we're not looking for a whole bunch agents to join our real estate team. We're only looking for a handful we are looking for agents in all states so if That appeals to you. If you want to be part of our relaunch of real estate team, which is something we've been looking forward to doing well, we can only do through e x p licensed in all fifty states. It's pretty exciting. Asked me text the word team two, one, nine, nine, six, meantime you guys are fantastic day and we'll talk with you on the show tomorrow. This program has been a presentation by Tim and Delete Heiress Real Estate Coaching for more information on the real estate coaching and training programs. visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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PODCAST: Breaking News! Paycheck Protection Program, Covid Stimulus Package Details. | Tim and Julie Harris

Real Estate Coaching Radio

17:11 min | 5 months ago

PODCAST: Breaking News! Paycheck Protection Program, Covid Stimulus Package Details. | Tim and Julie Harris

"Welcome to real estate. Coaching radio starring award-winning real estate coaches and number one international bestselling authors. Tim and julie harris realistic coaching radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching get ready for flood. Free unfiltered full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market or hosts tim and julie hairs three two one we're back. It is december the twenty first four days before christmas. We have some breaking news for all of you and this is something that we originally were telling you about back in march on february timeframe when the covid relief packages were coming out. And we Tit everything in our power to get as many of you who had listened to seriously consider taking advantage of a ppp loan. And there's some other programs available through the espn as well. We have that information on our website and all that information saved. I think a lot of you saved your businesses. Quite frankly a lot of you wouldn't have stayed in business because you weren't financially prepared for essentially closing down the economy. That happened after that now. Of course we know that the housing market in particular came roaring back But here we are today. And i'm really so grateful that so many if you were able to take advantage of the various government programs and i think it's one of those things that will go into our own personal business. History is one of our proudest moments being able to help so many of you in all the emails all the techs all the just different ways of that all of you have shown gratitude who are listening to us back when the covid pandemic started in these government programs started coming out and we went in and deciphered and decoded. How you can go about taking advantage of those programs as a small business owner and We're going to do that now. Because there's a second cove relief package that just got passed and we're going to go through this jalil. Go through this point by point. We're going to skip over the things that aren't directly relevant to you but the ones that are relevant to you you need to be really taking good notes because what happened before is when we started telling people about how they could get these. Ppp loans which were in essence. Forgivable grants you had to follow really basic criteria and the loan to be turned into a grant. You wouldn't have to pay the money back Well the same thing. That's going to happen this time around. And so we're gonna go through based on the best information we have an h. A special shout out to janet one of our staff reporters for our main website timidly harris dot com or something all of this content for us. And if you want the exact notes that julia nair using go to tim and julie harris dot com and like i said jan spent a lotta time breaking this down into micro points so we could deliver it to you guys in easily understood well as much can translate governmental gobbly right so go ahead and take plane. Go ahead and take notes and really. We're gonna talk about a lot of the things that you need to know about. For the sake of your own real estate practice all right so jillian. Just go yes. That's fine because it's just all right. So this package totals nearly nine hundred billion to include six hundred dollar direct payments to qualifying americans. We'll tell you in a second one. It means to be a qualifying american to get six hundred dollar checks. A three hundred dollar boosted and unemployment benefits and funding for small business aid and distribution. Okay so this is the second package. The first one we brought to you by as tim said back in march that was called the cares. Act if you don't know what that is and you haven't taken advantage does send in your documentation makes you know what the cares act was about. Yeah that was two trillion from the cares act. Okay and this is nine hundred billion so half the size but still a significant opportunity especially when we get to the specific parameters the ppp loans. Yes okay so here's what we know so far The first thing is direct stimulus payments of six hundred dollars to adults. Earning up to seventy five thousand dollars a year. That's what it means to be qualified to get that six hundred. i believe. They're going to probably based on tax returns next is revived lapsed supplemental federal unemployment benefits at three hundred a week for eleven weeks. So let's hover there now. Maybe that isn't relevant. 'cause you're not a federal employee but you might have clients that are so take this information and share this information with them so that they can know what to expect because the way these bills get passed they passed and then it takes great staff reporters like janet parts through all the content and pull out the salient points. It's a lot of work. There's no just summary pages of these pills and hundreds of pages and they were good real-estate stuff was at the end of course and they were going through it like on a regular basis and updating specifically the pc but really again we're so i'll read the next few points. Here's what's again. I want you to really focus here. Chances are all of. You will qualify for a ppp loan. You decide whether or not you're gonna apply for one and the loans for the most part if you met minimum criteria. You had us. I don't remember the exact rules but you had to use. I think what was that joey. Seventy five percent of the loan towards payroll essence even if it was your own payroll and you didn't have to pay it back. Yeah yep something like that. We're not experts at this. Like have yourself on an official payroll. You don't have to be paying yourself. Say through paychecks rape you. You can be the only person that you're paying get tangled up in that you probably i. You definitely qualify. And and furthermore you could do this independent contractor at least in the first round of stimulus. So we're gonna read through her notes to see if they define what that is but like that means an agent that does not have a corporation. That's getting paid through. Their social security number would still be able to get a ppp loan. And those of you who did get ppp lens. Julie mentioned this twice before. And i see the you have to basically be applying to have the loan forgiven and the number of it's ppp. Loan forgiveness after thirty five eight s. Like sam and most of you guys have been emailed that by provided that long circulating us might look a little bit different but that's the rate and for the most part most of the ppp loans. Were at least twenty thousand dollars. I forget the formula for figuring out. But that's where most of these loans which became grants were so small business owners agents. Pay attention all right. So let's go through some. These aren't directly relevant but continue expand. Federal payments is specified for workers and freelancers for extend payments to workers who benefits have expired. More than that next point is more than two hundred eighty. Four billion for businesses. That's what we are assuming. Oh here it is. Next point revival the paycheck protection program and expanded eligibility include. This is kind of funny list. Nonprofits local newspapers radio and jan actually said is specifically said tv broadcasters. What the hell. That's an interesting add on his so a tv broadcaster back with a ppp loan. There's no collusion between the media and government. No no no moving on the next point allocation of fifteen billion for personal venue perfect for performance venues right independent theaters other cultural institutions. The next point billion. I mean most theaters cut down by the government zones bill billions unspecified for testing tracing vaccine distribution next point eighty two billion for colleges and schools. You can pick it up seven billion for broadband access. That's interesting thirteen billion for nutritional assistance twenty five billion in rental assistance now again. This was unspecified about owner assistance. What is rental assistance. Mean they're gonna be more detailed as the trolls out. And we're gonna find out and let you know of course unspecified. That's all stuff that affects you guys. Unspecified agreement to extend eviction moratorium set to expire at the end of december. So that's going to be extended. We don't know how far we don't know what the rules are. But this probably affects some of you as rental property owners as well as the people you're event and maybe you have people that you've sold rental properties to and maybe this was the straw that breaks the timeless brac back and they went to turn that rental property into a new listing for you. Open your mind. The opportunities that i'm changing you know. This bill is gonna present ban on surprise medical bills from out of network health providers hospitals and doctors now need to settle up with health. Insurers i don't know what that means. I'm glad i don't know what that means. Next point simply simplification given the next simplification of a federal government student financial aid for free application for federal student aid fafsa and expand of federal pell grant program to low income students and reversing ban on extending such grants to prisoners pursuing degrees while imprisoned. Okay everything is that okay so in other words basically allows prisoners in prison to get federal backed grants so they can get their college educations not passing judgment saying they think. think think. that's an interesting little. Add on considering this as a covert relief bill but moving on next point forgiveness of one billion in federal loans to historically black colleges and universities moving on deal deals unspecified to counter climate change and promote clean energy the first such legislation over a decade. Okay so this is a little bit nebulous covering a lot of different topics factors but the fact is that they have put together a new covert relief package. I'm not even sure what this one is going to be named. We have on our website before but this is deal number two the nine hundred billion dollar deal so somewhere. It's what really the big takeaways from sort of macro perspective. It's this it's called the covid relief package. They don't have a fancy name for it. Yet but the big takeaway is the money printing continues and this is nine hundred billion dollars. It will be injected into the economy given to people given to institutions in that money is going to inevitably You know it's going to continue to inflate a lot values of things which inflate as an inflation which means that real estate will continue to inflate and right definitely and these programs aren't going to stop. You're going to see more of this. You can call it what you want to stimulus. Essentially money from the government is going to continue. They can't stop because if they would ever pull back on the money printing than the economy of pretty much the entire segment thing. That this way guys. If all of a sudden government said let's just let interest rates go up to five or six percent. What would happen your market right. What happened to home. Equity if all the sudden the lending standards went through the roof in the interest rates went up. Then what would happen so you get the point at this point. The government's can have to continue to provide all kinds of aid for pretty much every sector of the economy. And there's no into it and it's this started back in two thousand seven two thousand eight and it's continued in one iteration or another is what it is and it's not our place to judge the political. It's not our place to even have much of an opinion where our role is and what your role is to understand the ramifications of all your real estate practice and again think about it in terms of this information we just gave you. How are you going to share that with all of your real estate customers. How how many of your estate customers are self employed themselves. It would wanna get appeal on. Why don't you think of a way to maybe share this information with them. Paycheck protection program information with your Centers of influence and past clients all of them and. Maybe they're not self-employed. But nah maybe they knew somebody. That is your now all of a sudden delivering a really valuable piece of information that could for many people be difference between financial oblivion and keeping themselves afloat for a few months more spent a lot of time over the past. Podcast when we were doing the treasure map talking about the value of talking to your clients your center of influence your database. And what do they usually say. Well gosh i just feel like. I run out of material. What am i supposed to well. I mean talked about bringing something of value. This is pretty amazing right so you have a how it affects the pc. You've got how it affects housing and probably a lot of your clients and past clients have kids in college. The student loan thing affects them. Some of your clients were or are involved in either hospitality or entertainment stuff like that. They're affected and then some of them are going to Maybe qualify for that. Six hundred dollar check well. So you've got america well most americans. Here's the thing you be the one providing that valuable information you get a copy of this when it gets official. Well it's on our website at to you. You can provide it to them and then of course wish them. Merry christmas happy holiday. That's got value. So just go to tim. And julie harris dot com. It's they article name has at long last the second covert relief package. We're going to keep today's show brief. Because it's christmas week and julian. I have christmas to do now. Remember if you've downloaded your real estate treasure map your twenty one. Twenty twenty one business plan. We've made it super simple. You just text twenty twenty one eight five five six eight five ten forty five text twenty twenty one to eight five five six eight five ten forty five. Yes i want you to do this. Urgently text twenty twenty one to eight five five six eight five ten forty five and when you gonna text you back lincoln without link. You're going to then be able to download the real estate treasure map. Your twelve lead generation. Plan thinking we're rich real estate co. sorts of really great stuff that is perfect for you to be employing an added to your business and personal at this time of year. Now in a really emphasized this and please remember what. I'm telling you when the information comes available how you're going to go about applying for a ppp loan. Juliana i'll give you the parameters. I'm pretty sure everyone of you will qualify. You're gonna have to decide whether or not you want to do it or not there. Some people that have a lot of consternation about that and they waited maybe a week or two too long in the last round of. Ppp was gone actually. There was two previous rounds in the money. Got sucked up urgently. Which alina. I spend a lotta time back in february march discovering which banks basically where the a best lending institutions to go to. And i'm gonna tell you right now with all of you should do. It turned out that your local bank especially if it's a big national bank wasn't necessarily the greatest source of you go to your pc loan. Pay pal was so. If you don't have a pay pal account go set up a pay pal account google right now pay pal. Ppp sba loan and then get started on that. Get first in line. We suspect that the way the banks are gonna do this This time around is they're going to go to everyone who's previously applied for appeal on. That didn't get it and then they're going to go to people who applied and did get it and the reason that they're going to do that is because in both cases they're gonna have the paperwork and it's going to be less work for the bank so if you applied and you had all your mickey mouse in for the last round. You waited too long The bank still has your paperwork and they're probably gonna pin you and say Your available you know we can get this done for you now as we advised you last time around. We're going to say the same thing this time around. Make sure you're applying multiple banks and you can't get multiple s at p whichever bank basic grabs your information. I and you then get an inside. Prove to the file number. Then you're in the system and none of the other ones be approved right so don't just apply to for example wells fargo or don't just apply to bank of america. Do apply to this banks. That's where you your private banking but also apply to pay to pay pal and we're going to pay pals a bank and we're going to tell you as we learn more places that you can apply that will get your loan. Approved the quickest because remember if it works out the same way did the first time. It's not really it's alone. But then it's a forgivable wound with meeting very easy to hit requirements. So this is something that all of us should consider doing. Assuming you're eligible remember. This is not credit basis not ratio basis. Not like getting a mortgage. This is probably a ten minute application. Yup you're gonna uploaded tax information. Your your social security number. There's another thing that agents and our listeners. Freak out about sometimes. They're not always comfortable working over their social security number. They think it's going to hurt their credit. It's not they're just doing an identity. Check to know who and where to send the check their matching addresses up so. Don't worry when that happens so there it is guys and we're going to post this information. Now do use this information as a maybe a christmas present or at least the potentially a bit of good news for all your centers of influence and past clients. Your friends your fellow agents cher with fellow agents this podcast please forward it to them and if you have not yet done so download your twenty twenty one business plan your fill. In the blank business plan just text twenty twenty one to eight five five six eight five with the respiratory ten forty five. All right we'll talk with you guys tomorrow on the show. If you need anything as always you can text me directly at five one. Two seven five eight zero two zero six. We're doing an abbreviated show today. 'cause this is christmas week and we want to try to go out and actually you know. Do a little christmas sing. God bless all of you have a great day. This program has been a presentation by tim. And julie harris real estate coaching for more information on the real estate coaching and training programs. Visit our website. At tim and julie harris dot com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to real estate. Coaching radio with tim and julie harris.

julie harris tim julia nair janet jalil jan jillian espn julie Tim harris joey
Podcast: 23 Proactive Lead Generation Rules | Real Estate Scripts | Tim and Julie Harris

Real Estate Coaching Radio

31:13 min | 8 months ago

Podcast: 23 Proactive Lead Generation Rules | Real Estate Scripts | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Real. Estate Coaching Radio is the nation's number one daily radio show for realtors WHO Demand Authentic Real Time Coaching Get, ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Three to one and we're back welcome to Real, estate coaching radio I'm. Going to start out showing you all bit gratitude. The this podcast is now being listened to and wait for it. Wait for fifty four different countries. So it's quite amazing how fast this podcast growing well I say, fast, what have we been doing this now for seven years? How many gotta be thousands of calls PODCASTS three thousand or four thousand something like that. Yeah. So a lot maybe not growing overnight but definitely growing well, it's pretty cool to look at the statistics and see that we've have listeners that are involved for different countries. That's pretty amazing Well, I'll tell you what I find sort of intellectually interesting about that more than anything is that sure you and I might be interesting to listen to but certain extent Noted saying. So the only reason that people are listening to us or I'd say the primary reason people are listening to us is because I know we have a lot of small business owners to because we pulled our listeners a couple years ago and a lot of them weren't even in real estate or small business owners. But if you're listening chances, are you're? In. Real Estate. So if you're enlisting fifty four countries that are listening to us now on a regular basis that tells me that the way real estate's done. Your part of the world is very similar. The way it's done in our part of the world is interesting, which is interesting and is it that's fascinating to me and because really outside really mainland Europe and. Coaching clients and other parts of the country too. But I sure as hell didn't know about how real estate was done on some of these islands in the South Pacific where I don't even know where they are are we have listeners or someplace in the? Middle. East we've listeners in Dubai we have listens listeners and just these countries if you guys would ask me where they were I honestly have to Google it because I don't even really know. But so of all you listening to us every single day and on Sundays thank you. We really appreciate it. This continues to be the number and listen to daily podcast. Dare I say in the United States and we certainly have global ambitions now that you guys are taking us there. So maybe someday jobs will be able to say that number one listened to daily podcast in the world for state preventable does get down to, for example, are continuation today of actual prospecting roles I know we should lead generation rule so you can all day just it, but at the end of the day you. Know if you are a business owner whether it's real estate or something else many of these points are universal about motivation and being media free and controlling your time in your schedule on all of these things apply even if it's not specifically to real estate. So on that note, let's move onto rule number sixteen have a dedicated prospecting area. We have a lot of fun with this and Premiere Coaching with before and after pictures. For Accountability, this should include but not be limited to a standing desk where both standing right now we both have standing desks a headset. Phone scripts on your wall goals from your treasure map pictures of things that motivate you and a mirror. It's funny when agents have to have a mirror in their office, it's not just to you know. PRIMP and you know get yourself ready for appointments. Make sure your lipsticks on straighter. What have you it's so that you can see what you look like. It's funny. You can almost tell somebody's smiling when they're talking you're or if they're just you know kind of lounging about if you will. Always. Whenever I talk about this and coaching is have this picture. I won't mention his name but somebody that used to work in remax office that had like a a dimmer switch and allow nge boy and like it was just kind of creepy but anyway, he would prospect every night like. Good prospect. Fantastic. He would prospect Bisbo his license plate on his Mercedes was Dr. Physio. He was fantastic. He was I. don't know if he's still in the casino for him. That at this point is about controlling your environment and being in a place where you can be successful where it looks like you're serious and for him that worked for him he liked to kind of snuggle into his desk. Along those lines, the curse of Zoom Julian I assume you're talking about right. We're in zoom about a month maybe two months ago and So we. For, a brokerage remember who is for some State Association and so we're looking at these. And I guess these people were zoom virgins because they didn't realize that little green light on the computer means that they can be seen by everybody. So there are I don't know hundred, maybe two hundred people on this. Jillian. I set the zoom so we could see the grid. So they advantage of doing zoom as you can see, people's facial expressions and whether or not they're paying attention. Not. Well. So we're watching this zoom and we come across this guy i. think he was Arizona and I saw him I was looking Julius presenting something and I was just listening while she was talking and I was scanning the facial expressions and then I saw this guy and I saw on the corner of his screen that looked to be like a really huge ask glass of Chardonnay. was like eleven am it was a look? At. West was even earlier. His name was frank or something and I said something you know trying to make him laugh and you know he he didn't shows camera. He tipped the he picked the glass up and he basically client it against the disk. Drink and put it back down. Well, I guess if you're going to be a day drinker in the post Kobe era, you know at least you have to own it. That's right. Exactly. But so point have an actual dedicated prospecting area and you should have some things that support you. It should be easy for you to walk around stand up because it keeps your energy level high have A. Mirror so you can see what you sound like. That's quite literal and be in an environment that is conducive to making money. You know don't don't just you know throw it together and walk through your. What do they call it goat pads through horter offices right actually make it look like your dollar productive area the standing things really critical and you guys should all get standup deaths the sitting. Will you know it's bad for your circulation it's bad for every aspect of your body just by standing up by the way you burn calories. So the act of standing up while working is GonNa, I'm not gonNA say a workout, but it's definitely moving towards some sort of physical activity. The certainly aren't doing if you're lounging in a chair and to Julie's point, you definitely have better energy and enthusiasm sound more enthusiastic. You'll be your brain will work quicker. When you're standing up. So definitely get a stand up desk and they're not that expensive anymore you can I mean these stand up desk that I'm looking at Juliette I. Think we got these from Amazon. Bender. Amazon. And they arrived to some sort of flat box and I just put them together but bet you these these together were less than a thousand bucks at their even restaurant at and there's different versions. Yeah. You can get a whiteboard on the top of it. You can get whatever colors you want, but the point is create your space so that it honors your. Mission, instead of just kind of wandering into something that you're really not that comfortable in any way, you look everywhere and there's piles of crap to take care of you know make it like your dollar productive shine almost well in along those lines, guys don't make your office to comfortable. Your goal is not suspend all your days in your office more time you're spending in. Your office after you're done setting your appointments in pre qualifying for the day the less money you're gonNA make your job is to set your appointments to the day and go out and do the world work of real estate. So the reality of it is you don't need to spend hardly any morning money at all on a you making your office, overly fancy and and. The rest of it and a lot of you guys waste lots of time and money worrying about a bunch of stuff that doesn't matter and it needs to be efficient more than fancy. We've when we set up offices for brokerages. Now, we haven't done this in forever especially since we've got a socio with E. S., p. and the few tally of having a, you know any. An office release I think it just is basically proven out don't bother having physical location. The future definitely is here with XP Realty and essentially the idea of having a virtual brokerage. But when we used to do that kind of work one of the best offices we ever set up I was in Miami helped us you know consulted on and there was a tiny little space, and so what we did is we basically made just put counters all the way around the edges of this office if you can imagine that and there were no chairs. So basically, if you came in, there was a little waiting room or rather a. Little tiny like a four top table, and then after that behind the wall that was built, then it was just a bunch of standup and essence and this was before the advent of deaths you can actually adjust the height on but my strongest suggestion is if don't over think it and you can get a wall Han. Stand up desk, put all your junk on the wall hung stand up desk and yeah, you're off to the races. So that's really a critical thing. Just guess look the fact is, is that your energy and enthusiasm obviously matters not just for the sake of how active you are selling, but also how active you are. Staying at being able to concentrate for long periods of time at work, and so if you're draining yourself by sitting down yeah, you're gonNA find yourself being making a heck of a lot less money. Yes. so point number seventeen or rule number seventeen have an actual prospecting ritual. Do it every day ideally at the same time, but people get hung up on that. So you know happens all the time like I have my schedule. I'm going to prospect between eight and ten am and if I can't do it at that time, I, blew that prospecting time I think agents take that way too seriously the point is to do it every. Day, it is your number one job in real estate. It matters less what specific time versus having an actual ritual. For example, listen to your favorite song I meditate read something favourite from the Bible whatever inspires you whatever gets you in the right mode to be of service and screws your head on straight so that you've got some level of saying, Hey, you know what? It's not about me. I'm here to find the next person I'm going to help. That's the difference. Okay. So number eighteen, we've had entire podcasts about this one practice, a media free morning this keeps your mind clear. You're controlling what goes into your mind that's going to. Help. You tremendously to keep that train on the tracks. That's easy. Again, we've talked about that a time. Well, let's drill down on case. There's a first time listener people I say a million times seven, which is probably the case by the way guys reading points directly from Harris rules are a bestselling book. It might very well become the best selling book for real estate agents ever. It's not for investors necessarily, it's not for commercial folks residential real estate agents. It's called. Harris. Rules I think we have over four hundred, five star reviews on Amazon for sale, Barnes and noble. It's for sale everywhere. You can find it anywhere. We've seen it in you know target we've seen in Walmart. I've only been in a Walmart wants us to buy bullets but. True, story but other than that I know it's for sale there except for sale at airports all over the. So definitely pick up your copy of Harris rules. If you running are running a real estate team play just sitting there wagging your head why did like me telling the truth? It's okay. That is the one time of random is okay. Somebody out there right now is laugh my favorite place either believe me. Time I believe I've ever been in there and we were going to some. We're going to car shell slash Frenchie rescue mission in. Scottsdale and I forgot to pack my makeup. So I had like an emergency makeup although she another time we went to Walmart bought you for some reason didn't have tennis shoes and the Talian bought loss last they were. Rump Nevada. That's right. That's right. Okay. So we've been we've been there three times but why are we? Why are we actually prideful the fact that we have spent a lot of time Walmart's what I'm going to give myself that. What that is something you should be for if you've not had to spend a lot of time in Walmart and now granted if you're living in a rural area and there are some Walmart's absolutely phenomenal grocery stores. So I'm told then basically that sense but other than that I think it's not a field trip. Okay. You you can gauge the value of the life led by the time spent in a Walmart. Yes. But if you're in their choir book. Okay. Maybe there. Somebody listening right now. Okay we digress media free morning. What does that mean? It means control what goes into your head what you're listening to what you're reading, what you've got on the radio. When you drive around with, you're showing your whatever the case may be. Choose it on purpose don't just passively listen to stuff because it's never good stuff. You know the old joke about there was a a good news station, but it didn't make it because it wasn't traumatic enough revenue talked about good. Yeah I, mean you really do. newspaper. Yeah well along those lines guys. It's so bizarre how there could be some little innocuous piece of news come out. So let's say for example, that there's some new strain of bees that were just discovered somehow have some sort of they. Can you know withstand freezing cold temperatures and who knows what Ryan just making all this good thing but then you'd read the headline on like National Geographic talking about it. Okay. That sounds like the reporting on the facts. Let's just say for example, and then you pick it up on some other channel or some other version of that same story and somehow been politicized. It doesn't matter what it is. Trump is trump pates bs right back knows trump tells bees the buzz off. Or something on the other side into it. Yeah. If you listen to it passively, you don't even see it kind of gets into your brain. So the key is. Go Media Free and Here's you know when you go media free, the other thing back is not just like control of the way you think because that is all media is was you know we were trying to make you guys laugh that is the point in essence at the news that's out there starring is trying to manipulate your thoughts they can manipulate thoughts they can nip at your behavior, and by the way, all the manipulations trained to be done to the point Julia was making is all trying to make you feel fear in which? By the way we're GONNA, pick up on a series tomorrow starting about fear but yeah, that's it. Their goal is basically make you feel fear if they make you feel fear then you can then the next step beyond fears Gosh I can't handle the situation and I need to basically be beholden you're dependent on something and usually that something's the government that is the process that is usually how essentially an election year you're seeing all these politics go. But beyond that, it's even the politics and the social manipulation and the emotional. Gyrations that are happening right now in the world if your highest interest purpose, if you're in alignment with your truest purpose being of service to others, it is really difficult to have the mindset of being of service to others if you are in a mode of fear. So the strongest and best smartest thing you can do is basically completely go media free I challenge you guys to seriously consider doing that, and here's the another unintended consequence. Of going media free, you will find yourself with all kinds of all kinds of time to do the things. You didn't have time claimed have time to do for example, practically generation, which is the topic of the series we've been working on a segue to rule number nineteen. Thank you have accountability partners role play partners who are producing more than you. This is one thing that drives me a little bonkers on some of the social media. Stuff that agents do they'll put out like some kind of what do you think about this and there's absolutely no vetting as to the answers and sometimes you read the answer you're like that doesn't even make any sense and obviously is coming from someone who has little experience or tainted experience. So associate make your agent associations in Your Business Associations with people doing more than you are. Well, let's let's actually enhance that point. So here's another. Thing if you're gonNA seek any kind of advice that pertains to business making money saving money whatever one don't you make the first precursor whomever you're listening to whether it's in person on video or book why don't you make it so that they are ten acts whatever it is wherever you are in life. So if you're seeking information how to be successful in real estate shouldn't diverse rule be that the person sold real estate before you think. Coach Dot Com, and find out right I. mean there's the site we created for you guys to help To Decipher wizar- isn't a real real estate coach because everyone and their brother and their dog bob is a rotate coach. So just go to compare coach Dot Com and then use those questions that are on there, and the first question is should be the most basic of all questions again when you're seeking advice from someone who proclaims to be an expert. Is Art. You know. Have you actually done this? How do you actually had a real estate license? Have you actually sold real estate for a long period of time at a high level and I'm sorry guys if they haven't, they are unqualified to give you advice sales. Yes. All selling basically has the same fundamentals, but the reality of it is is there's so much more complexity in real estate than there is in virtually every other industry which you. Might, find yourself selling stuff in. Do you got to be really mindful in-incredibly selective in who you're gonNA listen to because if you're not then you're GonNa make the mistake of basically starting down a path listening to people who are not qualified in the most literal of census to give you advice and had to be successful in real estate they themselves don't know how to do it. What they do know how to do is teach you at us. Basically I'm sorry. What they do know how to do is talk you into buying things that probably will not result in a single real estate transaction. Yes. Trying things out is not a business plan. Okay. Roll Number Twenty track your result your personal results. Your goal should be somewhere between a five to one and a ten to one ratio of calls made to appointments set if you're not able to achieve that in other words, choose your category when making ten contacts that conversation with the decision making adult about real estate and if I'm not able to get at least one qualified appointment. For. Every ten actual conversations I'm either not scripted not using the script not listening to the client something is wrong or and or I might be calling category of people who just aren't that motivated. So you could make ten just listed just sold calls all day long every day this week and get nothing those don't count guys. We don't even tell you gonNa make contacts Sherbet no appointments. Are Coaching. program. Do we tell you to basically waste your time calling You know just listen just sold waste your time that is what I said. Why would you do that it it I've always thought that was shocking that so many people will tell ages to waste their time because all that's going to resolve them being frustrated not getting results. And not wanting to do, and they're going to basically rationalize doing really dumb things like buying leads well, it gets back to to rule number twelve. You should have appointment obsession not just contact itis that's why they do it. So I can say, Oh, I may twenty contacts today and I think that some let's say less experienced coaches, trainers, etc. Get agents to do that. So they're doing something and to try and break their phone fear down. But I think it has the opposite effect because if you do that okay I hit twenty contacts every single day and you got nothing you're not ever going to believe that works and it's not a problem with you. Or the script it's the people you're calling might as well call the phone book, right? That's right. You don't you don't have a list of motivated people like you do with for sale by owners expires probate even builders you know people who are clearly motivated with something to sell. Can you guys come listening to Julie every single day as literally thousands of tens of thousands on Sundays have you guys find single flaw and our logic? Can you find a single reason to believe that with Julian are asking you guys learn how to do an implement wouldn't work for you can't can you isn't that a shocking now think if you can pick any other example of any other. Thing that you're thinking about pursuing for the sake of building your real estate practice and you can just poke around and you can easily find flaws. You don't even have to have any real business experience defined flaws in the ideas that are being passed around had been normalize social networking in buying leads and all the stuff you know having a purely sooner of influence past client base business. It's easy to find flaws, but you guys tell me a flaw in essentially learning. How to be proactive learning, how to prospect and learning how to go after the people had their hands in the air saying, yes, I want to sell my house, find a flaw in it. There isn't one because it is the perfect business model it costs you nothing it skills based you can learn master these skills are Belgian about it. You can learn master these skills certainly inside six months maybe even quicker that is the reality of it if you're doing it every single. Day and you're being diligent you're going to realize quickly the having the same conversation over and over again as what it is, and then you're GonNa realize that you get the same results. When you have the same conversation, you get better at this and better at the next thing you know you're setting appointments consistently find a flaw in that find a flaw I'll tell you the only flaw is that you guys basically aren't patient enough to do it but more importantly you. Are frankly straight up too lazy to actually learn something new because it's it's too easy to believe that you can buy your way to success. You can buy your business. You know it's like, I, mean I don't need to get on a rant about branding but branding is one of the most insidious things that basically been pushed into the real estate industry. It started really in the nineties and this sort of died out nearly two thousands and now it's come back and branding. rears its ugly head thing to do when there's lots of money flowing, and soon as the economy starts to tighten up and it becomes a buyer's market, all these branding guru sort of go back under their bridges and wait for the clouds to clear. But here's the thing that Brent brand sold to you and I want you to challenge yourself to realize what I'm telling you is one hundred percents truth branding a soul to you as a shortcut on how to build a reputation reputation and branding or not the same thing but they're trying to get you to believe that if you build this big. Social Networking Mickey Mouse where if you spend all this money on your branding that somehow you're going to, magically it will have the same effect as if you've been in the real estate business. Is. If. You saw a lot of houses in your successful in other words it sold to you under the belief structure that it's going to build for you. The reputation that you know intuitively, you must have an for people to choose you as a real estate professional. In other words, it's going to essentially overlap or compensate for lack of skills and your lack of success. In, real estate do you guys get the fallacy in that? Do you understand what I'm trying to tell you? Why don't you just skip that learning curve blanked you just master the skills and basically your branding will come from having lots and lots of happy customers, which is the only real way to do it. There's a reason I'm trying to validate this I'm only having having. Problems, finding data point to be honest with you but I'm pretty sure that the failure rate for real estate agents since about two thousand nine after the housing crash, the failure rate is actually increase in that. There's real agents that are failing out of the business faster than there were before more agents failing faster in other words they're essentially getting your licenses and they're not even. Able to last in the business for I. Think it's about fourteen months maybe even twelve months for when I'm being able to see. So here's the interesting question for you. If all these new age newfangled gurus were trying to push you guys branding and marketing and lead generation teams and all this fancy what websites and logos if that stuff was valid in there, are there guys? Of dollars that are spent every year by. Agents to buy into all these. Fallacies if that stuff actually was valid why is the failure rate for agents actually increasing? Well it's increasing because there's more of this floating around and it's expensive and they go broke before anything works because it doesn't work. Of course that's why it's because there's so much of it, and because nobody teaches them to be financially responsible or account they're not learning the skills there's no skill they're getting the business loaded with expenditure ignore the scope part which they're always beholden to buying leads they're all they've never developed a skill set to be independent, and so soon as they run out of money because the guess what the closings never happened, then they're out of the business and why do jewelry honestly, why is it that you and I in the industry are The only ones that are telling the truth about this white guys we've lived it the difference. Yes we've lived. We know the difference, but here's the other isn't because we're not being paid by all these. That's right. We don't have anybody you know. And we get probably five to six emails a day emails a day and the hilarious from people asking to be on our podcast and all of them have some gimmick they want to sell I'm like, do you guys even listened to the podcast and? Knowing that the exact same thing you're trying to get me to promote to our listeners is the exact same thing that we rally against on our podcast but it's a whole industry, and if you're a speaker guru of any variety and you're being essentially directly or indirectly funded by some these gimmicky tech ideas, you're not going to say out against them because you want the money it's simple. That's why airy convoluted now that doesn't mean that we know you guys spend stuff regardless. You've got to have some support things in in coaching we talk about what's good and what's not what's real and what's not. So we've talked a little bit about that. On the Sunday show. So next point I love this one rule number twenty, one, do it yourself do not delegate you're prospecting a virtual assistant, a personal assistant or your buyer's agent your number one job as a professional salesperson is to set appointments people have this fantasy life I hired this new Egypt going to make him prospect for me it is hilarious. Yeah. That works out if you don't know how to do it yourself, how would you ever hold anybody accountable and I'll give you another little secret chances are as soon as they learn how to do it there you know if you don't have a sweetheart deal for them, they're gonNA leave. quickly, figured out how to decode the truth about real estate. You don't need to buy leads and do all these silly team things that people are so beholden to addicted to. Plan. So there's Julie. Would you agree and it's okay if you don't right. That there are certain things in real estate that you never delegate. Yes. Semi the list isn't huge, but it is much things, right? I would say you never. Ever delegate you're proactively generation never never I would speak because that's the one thing you control. You wake up in the morning you do your proactively generation, your standard, you get built this levels you set one prequalified listing appointment a day in the afternoon you go on that one prequalified listing appointment if you can suck it everything else in real estate except maybe prequalify I agree and presenting that can't be a slacker at you're listening presentation. Then you should be a good negotiator I mean, right? Yeah. But you'll learn that through doing the rest of it. Correct. Well, we've had people who would have and I'm not suggesting this, but we have had plenty of coaching clients don't even want to bother with the negotiating again, not sharing I'm not saying I agree. But what they'll do is they'll basically have their transaction coordinator WHO's licensed go and do the negotiating for them and that will make it. So basically, all they're having to do every day is the generation that presenting the pre-qualifying you should definitely always present. prequalify all your leads because then you can call it the seller. So Julie are thank you for. Today. I'll see you probably about ten minutes after after off your next call. So listeners, we are always going to be probably overly direct. Or always going to be non with you guys were always going to tell you the truth. We're always GONNA do our best to cut through all essentially all the Malays and all the haze that's out there marketplace the clouds over the truth about what it takes to be successful long-term in real estate not just real estate guys but life in general I mean when you think about some of the things that we're talking about. You know I know that you guys are listening to us and you're going that makes sense. I guess you know I can't argue with that. You know you're going through it and you're thinking yourself maybe you're. Interpreting what you're saying and you're saying, how does this your subconscious mind is going? Well, how does this apply get to the real estate thing to me made the point but houses this actually apply to other aspects of my life, and then you're starting to look at yourself in the proverbial mirror and you're starting to realize that and other aspects of your life you've built and you've normalize some of these hacks and half measures that have caused you to get no results from whatever activity that you're trying to do and guys that could be wealth-building, it could be. Relationships that could be any aspect of your life when you have basically build it around shortcuts and Hacks, you'll never going to get the results that you otherwise would have gotten you may. You probably won't get any results whatsoever you know it's the old story about going to the gym. You're at the gym urine you're your Lululemon out, but you're sitting there the treadmill or sometimes sitting but standing in, you're not even working up A. Sweat and you're watching youtube video about cats or some Mickey Mouse. You know that's look that's going to the gym but that's not really doing the work. That's how most of you guys work period that's almost humans live on this planet. They maybe make the effort or appear that they're making the effort, but they don't ultimately longtime listeners out to say they never actually realized that long-term ever increasing levels of success comes from doing what? You don't want to do when you don't want to do it at the highest level. You'd have to really internalize those three things and then in your state business, we strongly encourage you never delegate proactively generation pre-qualifying in presenting and Julia I'm sure is correct in that you don't probably also delegate negotiating. So those are the things everything else in real estate you never have to learn how to do at a high level if you. Just. Do those things because those are the things that ultimately are going to give you leverage inconsistency of income and are always going to make it so that you're not beholden to other lunacy that's been normalized in our industry. So listen guys if you've not yet joined the free. Coaching. Program It is a free coaching program just text the word survival two, three, one, nine, six, text, the word survival, two, three, one, nine, nine, six. We're going to text you back link, and that link you can join the Free Coaching Program the Free Coaching Program Daito, the price write this down it's free. So text the word survival two, three, one, nine, nine, six, text you back a link in with that link, you activate your free membership and you can be a member of the Free Coaching program which doesn't include a daily Semi Private coaching call in the meantime if you guys talk to me directly about joining R. E. X. P. Group. Yes, Julius. Nyerere. Involved in the P Five I've not made that clear enough and yes, we're incredibly enthusiastic about the opportunity. Presents to everyone especially in this. Hopefully, we'll be referring to his post Cova era, and if you'd like to join with Jillian I at six P, please consider texting me directly at five, one, two, seven, five, eight, zero, two, zero, six, five, one, two, seven, five, eight, oh two. Oh, six. That's if you're say a seven out of ten ready to join if you're just getting getting ready to get started in your in the learning. Phase, about XP, made it easy for you, there's a nine minute video that's waiting for you just text the word X. P. Two, three, one, nine, nine, six, text, the word e XP, two three, one, nine, nine, six, and text you back a video you can just check it out on your smartphone or what have you in the meantime you fantastic day we'll talk with you on the show tomorrow. This program has been a presentation by Tim and Julie Harris? Real. Estate Coaching. For more information on the real estate coaching and training programs. visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening. Joe Real Estate Coaching Radio with Tim and Julie Harris.

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Podcast: The Stone Cold Truth About What Happens Next In Real Estate | Tim and Julie Harris

Real Estate Coaching Radio

32:41 min | 9 months ago

Podcast: The Stone Cold Truth About What Happens Next In Real Estate | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Real. Estate Coaching Radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Three to one and we are back it is August the death and we have we're gonna up what we started last week when we're talking about the different roles in the book Harris Rules, I was surprised actually. So many of you seem to appreciate US reviewing the different roles in. based. On the feedback I think a lot of you guys like that. So we're going to pick up where we left off last week. But before we do I, want to watch all of you know that we're seeing a pretty steady increase in. The world coming around to the reality that there is no v-shaped recovery and I mean, last time you've heard that even out of some sort of big housing pundit who's always trying to be breath opium. Up The housing markets, right it's not going to happen. There's no v-shaped recovery and furthermore it we're now starting to see you know it's predictable rate these it's not like when Joey narrow telling you guys this was going to happen. That we had some sort of. Elian level knowledge of the future. It was just sort of predictable if you just follow patterns and if you've been in the real estate industry for long enough, you know these things. If it hadn't been corona virus, it would have been something else would have been something else really at the end of the day, the coronavirus and the recession maybe depression that's following it was essentially just. A predictable thing that was going to happen that was going to end a very bubbly housing market let alone economy. So these are all. Things. So if just as you guys start reading them the increasing number of articles that are coming out, that are going to be talking about the inevitable foreclosures that are going to start taking place into next year. Don't start thinking that you know you are going to be somehow washed out to sea not knowing what to do because we've been here. We've done that a number of times and we will tell you exactly what to do. We'll tell you to do it long before you need to know how to do it so that you're prepared, we're not going to leave you guys in a situation where you're wondering. We know how all the world change in here you are stock not knowing what to do. We're going to prepare you long long before you need to really worry about it, and that's frankly the reason we went all of you in our free coaching program. The Very Listener Free Coaching Program obviously the SMARTER AMONGST YOU'RE GONNA move forward and enjoying the premier coaching program. But if you're interested in joining the free coaching program just text the word survival two, three, one, nine, nine, six, text, the word survival two, three, one, nine, nine, six, and when you do you're going to be entitled to a Daily Free Coaching call. With one of our coaches Julia, it's been running those free coaching or rent running those daily semi private coaching calls usually two or three days of the week. So this is an opportunity for all of you guys get firsthand immediate urgent information and be ahead of the curve and so that you can prepare for whatever the market becomes because there's no doubt and again, you're going to start seeing these headlines and don't fool yourself into believe near politicize they're just a reality with this number of. People having lost their jobs in the banks. Now, essentially admitting the fact that they're starting to put some pretty fierce overlays on lending standards with appraisals. Now, starting to get pushed back with all these things starting to take place the banks, the appraisers, the everybody is all anticipating there to be a real spike in defaults and a real spike in foreclosures guys. If there hadn't been a big foreclosure moratorium if there hadn't been a big whether it was an addiction moratorium in a foreclosure, for forbearance. Mortgage forbearance payment. The whole thing had that not happened you. We would be right now in it for sure we'd be deep in the weeds in the foreclosure crisis two point. Oh so it's coming it's inevitable. There's only so much kicking of the can down the road that's going to happen. So just be mentally don't be caught by surprise stay close to. July and will always be giving you firsthand immediate actual information about what you should be doing to prepare for the change in the weather Jill you just finished a bunch of coaching calls and always yes, has always anything you want to share on your I think that what we're going to see we'll be different than the foreclosure avalanche of two, thousand, eight, nine. Partially because I mean mostly because the circumstances are completely different back. Then we'd come off of a boom where virtually everybody had a subprime loan. Now, we're tons of people that probably should not have closed given that there were things known as. No income no job verification like you can barely. Vargas screen, right. So now we have a mixture of things I'm already seeing from some of our coaching clients. Seeing, some. Short sales are starting to become a topic certainly price reductions people who have lost their jobs and at the same time. We still have hot first time buyer market. So you can have two things at the same time. The market does not have to be all foreclosure or all super hot sales Sorry. Seller's market. You can have those happening at the same time in the same market, and that's why it's so important to be frosty about your actual subject property no your seller what is their situation? What is their net? You know a lot of agents don't even do seller NICI, but even know their market I mean you said something really important even in the biggest shit show of. The foreclosure crisis back from Oh seven through you know you're still seeing in those hardest hit markets little pockets of housing that we're still hot. So you can't just summarily just assume that all of your markets being some sort of you know price reduction Menia there will be certainly a bulk of it. That will be there won't be a sellers there may be a tinge of sellers market. Here and there. But for the most part you're going to be dealing with price reductions. You're going to be dealing with sellers that are cranky. You're going to be doing sellers that are mostly financially attached to pass realities in terms of property values you're going to see and I think we're already seeing this. You're going to see more and more sellers that are gonna be underwater and what the hell's houses actually worth and you guys got to remember this. This seems basic but you know this is kind of amazing to think about if if a buyer bought a five hundred, thousand dollar house and they put down, let's just even say. Let's say they put down ten percent rate in. Let's say the house is worth. Exactly, what they paid for it, what are their selling fees from selling that house? They're selling fees from selling that house are going to be what six to eight percent with taxes, and if you're in one of these east coast states that charge transfer taxes and whatnot. So their entire down payment if that house has an appreciated, which a lot of houses will not be appreciating, they'll be depreciating that entire downpayments wipe out now that is going to be an emotional. Real issue for a lot of these sellers, and it's going to be an emotional issue with the agency sold those now sellers where buyers houses because they're not going to know how to have those conversations with those past clients about what? Mr Seller guess what the House I sold you two years ago is now worth when it's worth. Conversation No, they won't, and that's the reason that creates a whole bunch of opportunity for a different set of agents to start taking a commanding position the marketplaces because so many of these agents won't it's not that they couldn't learn the skills to have these conversations. They can sign up for the coaching program just like anyone can, and we'll teach them what to say it. How to say it it's just they don't feel comfortable. Having those conversations and if their whole business lead generation was predicated on centers of influence and past clients, and now they're not necessarily wanting to solicit those centers of influence the past clients because they're fearful of the fact that a lot of those centers of influence, a clients or underwater in their houses. You guys see how that opens the door for a different set of agents to start gobbling up market share. That's the reason look. Forward to a real obvious market shift, we're night at all the. The vast majority of people will suffer needlessly in the real estate industry because they weren't prepared in the people who they trusted to prepare them. Maybe those people weren't prepared either so really it's just a cycle of. That leads to basically a cycle of real discomfort and sometimes some real hardship. If you're listening to this podcast, you owe it to yourself to pay very close attention to be mentally emotionally prepared, and then you do the Smart Things joined the coaching program obviously texts word survival two, three, one, nine, nine, six, buyer book Harris. Rules it's like eleven dollars on Amazon. It's like twelve dollars at Barnes and noble you can get it at target. You can get it at Walmart. You can get into bookstores in airports you need it everywhere edible version. Yeah. You can get the auditable version to so do whatever you can to start educating yourself up and be very very weary of spending and I need anytime talking about anything that's not gonNA lead directly to you being in a position to help somebody and make money, and that's going to be all this time wasting talk about social. Networking and instagram and facebook I got an email from someone who a lot of you guys would consider our competitor and he had just made some sort of video. He was real geeked up about about he's how he's figured out some hack basically to make it. So you can swipe your instagram videos up even if you're not even watch I, just read the copy I didn't watch it but I'm sitting here you know I was looking. At this email and I was thinking to myself I know the bulk of the agents receiving that really goofy message. They're going to think that that actually is something that they should know for the sake of actually making money and not an no one's they're giving a counterbalance to those agents that have come up in the industry and really since oh seven who believed that buying leads you believe that will all these other fallacies that basically are. Essentially completely operational Thur allstate industry are the way that you basically are the real work in real estate and they're not and you guys are going to discover that as the market starts to change because you don't have what it takes to basically round. The Ben, you could it's not like you don't have the aptitude for it. You do. It's just whether or not. You'RE GONNA be willing to actually put in the effort you can do it. You just have to be willing to do it. So I mean I hope all you guys are less thing is there's only so much like if you're a coaching client trust me Julian I'd be a lot more direct with you. Really. This is the version of US pleading with you to basically get your remove heads from posterior so that you know frankly you guys need to start thinking about a hedge elise got rule thirteen pulled up segue. Okay. I'll toss it over. Okay. Well, Julie's got a perfect Harris rule number thirteen pulled up which actually works out perfectly. So what you were saying Can Be summarized as rule number thirteen from our Harris Book be the best at what matters eight not at swiping on instagram be the best at what matters I wanna read this paragraph Eric Schmidt, who is the former CEO Google was giving advice to surgery brin. The new CEO of Google Schmidt told him to quote be great at five things also in his. Autobiography Steve Jobs writes that he received similar advice from both his father and his mentors we agree with them all being great at a simple list of things as what will bring you wealth in real estate in a world of seemingly endless options and distractions. How do you know what definitely leads to a paycheck and real estate? So in this chapter I mean. Are Rules become chapters. We talk about how to be the best at what matter. So first of all, what actually matters we have rules for lead generation. Okay. So if you are not good at lead generation, none of the rest of what matters matters okay. Because you've got to generate the lead in order to go to the next thing, we'd follow up rules. which leads to pre-qualifying rules, presenting negotiating and closing. Are you listening to what you're saying? So at the end of the day, your life success in life in general comes down to doing three to five things every single day at the highest level that's it and you need to operate like it's a flip and checklist single day. The right things they be random, right so for example, and then we talk about this excessively in our. Book obviously, but you want to is first business stuff. You WanNa make sure that you're generating the exact number of proactive contacts. Every single day that you have to determine by your rotate treasure map, which is a real estate business plan, which by the way we give you when you joined the real estate. When you join the free coaching program, it's also in Harris Rolls the book. So, just text, the word survival, two, three, one, nine, nine, six. But once you determine what your magic number of listings is the number of listings you need at all times to meet or exceed your financial expectations. That is the exact number of contacts you're supposed to be making every single day. I don't want to get into the weeds about defining anymore than already have just do this homework and do the research. We've already left the bread crumbs for you to follow but that is number one that all of you must be doing every single day and it cannot be predicated on how you feel. It cannot be predicated on whether you feel like doing it or whether you're not you know whatever all these emotional. Lazy excuses that a lot of people have normalized that are all centered around non. Business. Those are the things that are making you guys broke gonNA cause an unneeded suffering unnecessary suffering. Remember in some suffering is necessary by the way south you're going to have to suffer when you're learning something new that suffering is required but unnecessary suffering is the suffering that because you are unwilling to learn something new and you are unwilling to do what you didn't want. To. Do when you didn't do it at the highest level, you now are putting unnecessary suffering onto the people that are tasked with taking after that would be your family. So if you put unnecessary suffering on them because you were unwilling to do what you didn't want to do when you didn't want to do at the highest level that is a I frankly I think. That's immoral. So you need to seriously be thinking about this stuff as you move forward and really challenge yourself as to why you're so enthralled with things that don't put you in a position to help people and make money it's because they're easy and they don't involve rejection, which would be another minimum standard. I would say I would cast for all of you. If we were frankly personally coaching you in. But let's say for example, you had a minimum standard based. You have a nice sale price of having five listings at all times. Well, that means that you would have to be putting yourself. So that's that's a minimum standard that is the goal. So that means you have to make five you have to make five proactively content. Contacts every single day to a decision making adult, not a buyer but a seller. So you have to learn skills how to know how to basically solicit sellers. It's not difficult you can do it. And now the second rule would be if you're not putting yourself in a position to hear the word, no, not from your family or your dog or your wife or your husband or you know. A real solid rejection from a prospect. If you're not putting yourself in the position, you hear that word at least probably if you're magic number of lessons is five, you have to be willing to hear the word no probably at least ten times a day until you basically worked yourself up to having a five listings at all times the another minimum standard and this is also in our book is you. WanNa make sure that you call every single lead back within sixty seconds and follow our pre-qualifying script, which is designed to root out PA- perspective sellers remember we focus on helping you guys become listing agents and then there are a lot of other minimum standards. But you can see by the nature of what we're saying. We're not talking about reading your affirmations. We're not talking about journaling. We're not talking about. You know essentially sitting around in a yoga pose trying to manifest what you want in life right those things are luxuries that come on the other side of you having learned and mastered the art of doing what you don't want to do, and you don't want to do at the highest level. You can do those things those woo. Science things after your financially secure and you provide financial security for the people that you're. You're responsible too. So what's an extra July? Yes, it's called focus the word focus stand for follow one course until successful. So this sort of speaks to the fact that age is like to dabble tryout see how it goes sample. Some of you guys are like you know thirty day free trial addicts and you get them, but you never do anything with them, and then you decide that didn't work. Well, you've gotta work at by following one course until successful. So how many of you guys listening right now don't pursue something like the obvious for sale by owners because you dabbled with one or two. Or hurt someone that did I read about it it wasn't even you but you know you heard something about that that that is not following one course until successful agents who actually have that as spoke have an actual system they talked to him every day for sale by owner POPs up in their market there's no possible way that for sale by owner is not getting called by that agent today combining with joy just said and combining when I was saying previously look how many of you are. So into creating these overly complicated lead generation funnels where you're having to pay for the lead from a facebook. and. You're funneling from this bucket of that bucket that that bucket look how much time energy you're spending trying to create anything everything. So you never have to actually learn how to be proactively generate that without ever having conversation because you're so living in fear of hearing the word no right. I was having a fantastic conversation with A. Top producing, it was a team actually and I was talking about there the way the manage the how they manage incoming leads off signed calls. You know was not included an actual conversation with anybody their whole system basically was lead comes in. Lead then goes into the CRM. The person gets dropped on guys. Drip campaigns do not work. Do not stop wasting time and stop wasting money on these elaborate drip campaigns and they do not work because you're leads what you think how value have no value. Your leads have no value because everyone else has the same exact leads. You think that buyer that seller that's in your crm drip campaign. Isn't also in ten others you know they are what has value as your ability to pick up the phone be of service to that person ask the right questions in the right order so that you can help them solve a problem which is buying or selling a house that has value and the idea that you can somehow, and why don't you do it? Why are you wanting to do the? Campaigns and all this other crap. The reason is is because you don't want to learn the skill. You don't want to put yourself in the position of potentially say, no, I mean, can we stop pretending that it's anything other than that and what happens on the other side of you actually saying you know I do not like the way Julius specially speaks to me on this podcast she is so rude. I try. I don't like it but you know what I know it's true I don't want to admit it's true. I don't want to think about it being true but I know it's true I know that I do avoid any I do any avoid anything even remotely resembles rejection and discomfort and I know you know naturally by the way listeners you know in your core that what you're saying is true that everything you want in your life is on the other side of probably a fair amount of discomfort until you've learned to basically essentially overcome your fear of no and then and you've done that because you've mastered the skills that are necessary for you to become somebody who's truly independent WHO's truly Proactively generator WHO's not beholden to buying leads you're always going to be beholden if you're buying leads, you're never going to be free all it takes us some algorithms to be changed or some. Some silly thing where the company that you're buying leads from decides well, you're not getting the leads anymore. 'cause you don't have enough five star ratings on this side or that side or all this Mickey Mouse crap. So you guys never actually learn how to be independent to be free. You just are essentially beholden to all these people that have their teeth firmly clamped on your credit card and on your wallet because they know that you don't know how to generate your own leads next point, Julie? Yes. Extra is the future belongs to the furiously fast. So we address in this chapter. Common Mistakes we've alluded to some of these already passivity in the process is what I call this in this chapter in that goes to drip systems and all the rest don't wait for a buyer or seller to email you. It's not their job to find the cops for their home or the right home. If they're a buyer, they're hiring you to do that. It's your number one job. So are you this I see this all the time with you know what they excuses. Always there's inventory there's no inventory. Okay. So you've got a whole bunch of prequalified totally motivated ready to buyers. Reason they're not in contract is because you're relying on your molest you're not being proactive about it. The future belongs to the furiously fast the faster you do the job for them the faster you're gonNA close the happy or they're going to be in the longer you take to do it more likely. They are to fire you as they should. So why don't agents especially ones that seemed see themselves as top racers? Why is it that the first thing they do is they delegate the most important thing which is their own effectively follow up why do they delegate that? I think they believe that that higher because they know that it's the most important thing they've had to do it. You think you guys idiots ego because they believe that they can just build this thing and they don't have to do the hard work anymore. But it it's a terrible thing to delegate. Can you imagine going to a surgeon a going to a doctor and basically the doctor who's known for being really good at a particular procedure says, you know what I'm just not gonNA. Do this shit anymore I'm out you really think doctors going to stay in. Business. You really think that assistance going to do the same job as the doctor of course not. But why is it that you guys think that because you read a book, you went to a seminar someone convinced you that your job in real estate was to delegate everything. In fact, the prospect Kinda gets pissed about that. Of course they do and when you look at, if you guys really want to see the business models, they're working at the highest level. Now, let me define what that means. Julie's going Premier coaching call she's losing our are leaving our podcast studio and if you guys are in Premier coaching, make sure you attend that call everyday life have a good call Joel's. So. Why is it exact to to my previous point? Why is it that you guys are let's talk about the pre-qualifying the calling back of the leads in the delegation of things. Why is it that you guys think that those are things that you can delegate and have a consistent result out of you can't because if you have, for example, buyer agents that are calling weeds back and they're not, you're going to immediately lose. Half the buyers that have houses to sell because they're not going to be as effective as you calling people back some of you guys even make a worst mistake you use some say to call back with a very heavy accent to try to call people back and somehow magically convince them to want to do business with you. If you look at the most successful real estate agents right now and the let's define what success means. Orgainzation in according to Harris, rules, success is measured by profit not by units or dollar volume profit. Litmus test of how successful you are as a real estate practitioner is not how many houses you sold. It's not how big your team is. It's how much profit you make because it's with that profit that you can reinvest that profit into things that'll make an income and where you can become rich where your money works for you to work for your money. So in many cases, we've had teams brokers, mostly teams that have come to us and asked us about the fact especially in times like this when the market's changing so fast and they're asking about the fact that they listen to our podcast begrudgingly maybe a couple of them, right? Maybe they listen to. Read the book, and now they're realizing that their business has no profit in the marginal profit they have is even being reduced even more. So as the market starts to change and they don't know what to do in the reason, they don't know what to do is because they never learned how to do the real work of real estate they never actually learned and they don't know how to teach people to do proactively followup do how to practically generation they're beholden to buying leads. They don't know how to do it. They don't know how to teach others how to do it, and now they have to relearn. Well, here's the good news. Here's the bad news. The good news is you have time because really the market is not really going to change any real meaningful way for probably another six months we think because we think the government's going to be able to have this extended pretend thing go on for at least another six months maybe a year guy the bad. The bad news is. So that's good news. You've got time to learn it. The bad news is how many of you are going to procrastinate and if it's six months from now, how many you guys going to? Procrastinate exactly one, hundred, eighty days before you listen to what I said, and what most of you will do is your wait for some experience to happen will you'll lose business where you'll be in some form of hardship yourself and then you'll actually remember this podcast and you actually take seriously what you should have been doing six months prior it's the whole game Jillian I play. We share with you guys, right. If you are not living the life you want to have if you don't have the body you WANNA have if You're not living in the house you want to have or the car. You'RE GONNA have the food you had to have the money you to have the financial security you have the love you and have the friendships you have. The only person you have to blame is the past version view. Great. That's it. Let's really specific about that. If you don't have the bank balance and financial security, it's because the you six months to twelve months you know in the past wasn't doing what here or she should have been doing, right Isn't that the truth. So now you're going to be thinking forward six to twelve months in the future you gotTa Make It. So the future version of yourself is cursing, the president version of you in the future version of you is praising thanking, you know absolutely being grateful and thankful for the past version of you because the current version of you now was willing to finally learn how to do the real work of real estate and do what you don't want to do, and you don't want to do at the highest level. Guys listen as I. Read more of these headlines coming out about the changing market Jillian I are feeling probably distress more so that you should be feeling we're feeling it for you and we're channeling that on our coaching calls in everything we produce in our coaching organization where we're doing more interviews more everything we're doing whatever we can to shake as many trees as we possibly cancel you guys can then. Realize the low hanging fruit on those trees is no longer there. You'RE GONNA start climbing up higher on those trees and you better get ready because you're going to need something other than just a six foot ladder. You'RE GONNA need some real skills. You're going to really need to adjust to what the market demands, and here's the blessing part of it and I mean that in the truest sense in markets like this, you will feel once you know how to help people you're going to feel so incredibly. You can feel good. Fulfilled purposeful meaningful. You're going to feel this sense of. It really is purpose that you never would have probably felt in a sellers market because now you're going to have a unique skill set that you can then solve and help other people and solve their problems you're going to to walk into people's houses who may be other agents have walked away from because they didn't know how to solve that person's problems and you're going to see there's little kids in the house and you're GonNa? Know those people are you know one breath from being financially destitute? They're not gonNA know what to do they're. Not GonNa, know how to solve their problems. They've had compounded problems because they probably been in this holding pattern of not knowing what to do for a long period time. Maybe it's an expired listing maybe it's expired twice. That's what this market is going to be like but you're going to walk in and you're gonNA. Say Mr Mrs Seller here's what we're going to do. Here's your plan I'm going to solve this for you. This is what I needed to do, and you're going to start feeling a sense of pride a sense of purpose. That you never felt before maybe in your entire professional wives because you've solved a problem for somebody you've you've saved that family from you don't even know what you don't know what the ramifications of all that financial hardship would have been on that family because you knew how to solve their problems you've saved them from that unnecessary pain. How does that feel just the thought of being able to do that has advil. Now here's where the magic happens. You do that enough times you help enough people then you all the sudden you start essentially getting the you know the rewards from that work. The rewards from having done with others weren't willing to others weren't willing to do it. you start living a different level of wife you start having different types of friends you start having what you want in life you start living in the house in the car and all these things change because you started with the dominant thought emotion of I'm here to be of service. To other people that is my mission on this planet is to help other people in that becomes your true North Star. Then if you if you believe that if you feel it if you're if you're connected to that, you know overriding overarching northstar vision for yourself. Then naturally, you're going to want to learn how to help people because if you know your highest and truest purpose on this planet to be of service to other people when you get an email and some goofballs trying to tell you how to basically hack instagram where you can learn feis swipe up or swipe down, you're going to see it for what it is. You'RE GONNA laugh at it just like I do right and then you're going to tell other people how silly it is, and then the industry is going to start realizing what all of us in this industry is supposed to be doing, which is being of service other people. That's what real estate people truly are. We are sales people but guess what guys the highest paid people in the history of history have always been salespeople. There are no exceptions to that. The highest paid people in the history of the world have always been salespeople. Now they haven't had always had the word salesperson written on their business card as it were. But they had had to learn how to sell and buy selling. I mean they had to learn to master their particular art form of being to be served of service to other people that your mission to, and if you stop struggling if you stop fighting with that, if you just accept that then on the other side of that is the direction and all of you guys are going to need because you're now going to be pulled to this higher version envision yourself the person that's designed as you are knowing, your designed to be of service to other people does this vibe with you guys or you understanding what I'm saying? It's not about gimmicks guys. It's not about shortcuts not about hacked it's not about branding. Agent websites. It's not about all this garbage that you guys are constantly being sold your height, your mission. This planet especially in this capacity as a real estate professional is to be of service to other people. Do. Does knowing how to swipe up on instagram put you in a position to be of service to other people or is that just faking it pretending that you're at work you're watching all these fun videos that don't involve being of service anybody knowing how to do anything and you're fooling yourself and your the market's going to catch up to you and you're going to get washed under. Isn't it obvious at this point that that's what's going to happen. So listen guys please listen to what we're saying take it seriously don't take two aunts dot procrastinating stop you know you're not gonNA. Find anybody that's going to be talking to you guys like, Julian, I are are the industry our industry are the. Coaching and training industry. It's all sold on mindset right mindset mindset. Make you feel good dream boards and all that stuff and all that stuff has a place but you are not gonNa have any time to make a dream or let alone by the cardboard to put your dream board on if you're not making money helping people the helping people part the work part, the taking action part comes before all the other stuff the. Other stuff is eight luxury that you have to make sure you can afford to do you do it out of order then you're gonNA find your dream borders nothing other than a bunch of pictures up on a cardboard piece of cardboard. Hopefully that makes sense lesson guys stay focused stay motivated stay connected You can listen to any of our thousands of pass podcast. This remains the number one listened to daily podcast real estate professionals. And you guys can listen to all the past podcast we've done and stay connected to. US, obviously over you know if you're in our premier coaching program member, obviously attend the calls every single day. If you have any suggestions for the show, if you would like to talk with me by the way about XP realty Julie Enjoying Jillian is HP realty family. Please feel free to text me directly by one two, seven, five, eight Oh, two, oh, six, five, one, two, seven, five, eight, zero, two, six. If you're. Just waiting to get started understanding why ESP realty is the next natural smart move for all of you to make just text the three letters e. x. p. two, three, one, nine, nine, six, just text the letters e x. p. two, three, one, nine, nine, six, and we're gonNA send you back a quick video that you could watch and you also be entitled to speak with someone at to answer any specific XP related questions. In the meantime you guys have a fantastic day and we'll talk on the show tomorrow. This program has been a presentation by Tim and Julie. Harris Real Estate Coaching for more information on the real estate coaching and training programs. visit our website at Tim and Julie. Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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Podcast: Why You Didn't Get The Listing (How To Never Lose A Listing Again) | Tim and Julie Harris

Real Estate Coaching Radio

38:54 min | 6 months ago

Podcast: Why You Didn't Get The Listing (How To Never Lose A Listing Again) | Tim and Julie Harris

"Welcome to. Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris. Real Estate. Coaching. Radio is the nation's number one daily radio show for realtors who demand Authentic Real time coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Three to one and we're back it is October the twenty ninth and we have a great podcasts for all of you guys today Julie Harris who has not yet grabbed her microphone. Here you go. Don't go but just hold it ready to rumble and we have a really good topic and this topic is as a result like all of our topics from a listener and and student demand. So when you guys are asking the same questions, Julian I often see that pattern developing and remember we've got thirteen or fifteen different coaches I know at a budget different staff and so. They always reporting back to us where the what the primary issues that they're hearing back from their their coaching clients says, we have coaching clients all over the United States, we have literally tens of thousands of coaching clients. So I think we've got a pretty good read on what the collective Zeitgeist is all of you, and so when we present a topic on the podcast, let alone a series of topics podcast. It is directly from what we know is going to help majority of you the most in that is certainly the theme with today's show. Now remind all of you guys. That yes. The election is going to happen what next week thank God that's going to be over with and I hope it does get over with yes and I I'll tell you what we've noticed from our perspective watching the you know the KPI's in our coaching business the key performance indicators that the attentiveness to all of our media podcasting in our coaching calls hasn't dropped off, but we are seeing I'm sure you guys are seeing this to a lot of people that are tentative about making decisions and they're using the. Election as the backdrop for doing just about anything which is kind of I don't know it just crazy. But what we're sensing and what we think is going to happen is there's going to be another surge of activity before the end of the year after the election because it does feel like a lot of people have been putting off just transacting in general, not just enroll state but in anything they've been putting off until after the election it's like the week of pause is going well, it's more like two weeks. And so the other thing you've got to keep in mind to be prepared, this is going to be sort of counterintuitive to the way you've maybe operated in the past year old state practice because you're used to sort of kicking your feet up on your desk and SORTA coasting out the rest of the year mentally and emotionally just the expectation there's GONNA be less demand says is your. Opportunity take a breath that's all live you've been operating well hopefully after listening to our show and maybe becoming one of our coaching clients, you realize that fourth quarter which were in the midst right now is the most important quarter of the year because it sets the stage for what's going to happen or won't happen the following year for yourself in your business. So do not slack off. Over, relax take too many days off be like most people where, yes, you're gonNA have a week off or maybe a few days off for Thanksgiving but don't make Thanksgiving a three-week holiday week beforehand we after and Halloween. For some reason, glass ten years has become another sort of like national holiday which I don't quite understand. So consumer behavior is going to be you know they're gonNA your buyers and Sellers right. They're going to use the holidays as an excuse, but you can't use the holidays as an excuse. The exact opposite should be true. This is the perfect time of year to be drilling down lead generation. So again, you're setting the table for next year so that when no calendar ticks over two, thousand, twenty one, you're actually going to have a lot of momentum versus having to rebuild your momentum. And when the winds are the Windsor at your at your back now, come next year who knows. But certainly one thing you can bet for sure is it's going to be a lot of weirdness same as this year combined with the fact that you're going to have you know maybe changing economic situations are going to start affecting the globe. So build your inventory. Now at least have the conversation started and follow the real estate treasure map if you guys haven't completed their. All state treasurer map. If you'RE A, you don't know what direction should be going in your business right now, the real estate treasure mouth is your fill in the blank business plan that's going to help you think forward into twenty twenty one and beyond that in addition to that, there's also the ninety day of Action Plan you get both of these plans for free telling you exactly what you should be doing every single day. All you have to do is text the. Word survival two, three, one, nine, nine, six, text, the word survival, two, three, one, nine, nine, six, and we'll text you back a link to join the Free Coaching Program and when you do that, you click, you're gonNA get the link, click the link you're GonNa Sign Yourself Up the coaching program in that's going to allow you obviously to Participate In free coaching program now please don't be confused the Free Coaching Program is probably three to five percent with a normal coaching. Program as, but it's free and it's a great place for all of you guys to have direction for the rest of the year into next year. All this makes sense. Yes. Absolutely. So I've got a question for you You know we've been talking a lot about low inventory and how to find inventory that is sort of the question does your these days? Would you say that in that kind of environment listing presentations and you now getting listings is more or less competitive? I would say I mean the obvious answer is more and I know that's what you're running to tell me but I would actually. To say, I would actually say less because a lot of agents have given up. Well, that's true. That's true. Some agents are washing out unfortunately. and and or struggling with. Of the year for the year. Sure and really you know under our watch that's not really acceptable unless you've made all the money and you just WANNA take a couple months off. We've got some coaching clients earned that. You know in good for you guys. That's fantastic. But remember to your earlier point fourth quarter is really like your extra ramp up quarter for next year. Pretend this is first quarter. There's five quarters next year. Okay. So what I'm hearing with coaching students is you know I saw this little discussion on one of the. FACEBOOK realtor pages. And agents were saying, does it feel like it's slowing down and then other agents were saying will only because there's nothing left to sell right and then they were complaining about every time they get listing lead they're not used to having to compete for it because everyone wants listings right now. So that brought up a little reminder in the Harris rules. Book. Rule number nine doesn't just say you've got to be the best listing agent and explains how to be the best listing agent in your market. There is an actual seven step process and we're GONNA. Go over that again and the coaching today. So I'm actually going fast forward to that because they should be getting the book from Amazon Barnes and noble some of. The airports I think zones the easy button on that one PA definitely. But here's the exciting thing I loved by the way over four hundred five star reviews now. Yes. So make yours the next one and did you see the statement from the publisher the book itself selling in the thousand which is awesome. Thank you guys for doing that and you. Guys think we're getting rich off this book nothing could be further from the truth publishing books nowadays basically produces virtually blood basically, no money at the end of the day. So we ask you to buy the book because we know it's going to give you direction not because it's going to make us rich coast really publishing doesn't make you rich at all anymore. It's a lot of work. For one of the things that we tried doing, the book was pulled together a lot of podcast topics, coaching topics, things that you guys need and make them all make sense together instead of feeling like well, that was meaningful but I don't understand this piece. How did they go together? So get the book and this is rule number nine be the best listing agent in your market make sure that you're following the seven step listing process. So I'm going to fast forward a little bit. Tom This is something that our coaching clients especially in premiere because I you know I, hear from them all the time and our elite coaching clients. They're doing this and it's making a huge impact on how they approach listings. Okay. So we're GONNA talk about having an actual pre-listing listing routine, a pre listing prayer or creed. It's critical to the listing presentation itself. So let me pose you a question. Are you listeners walking up to that listing appointment thinking? Well, maybe I'll get it. Maybe I want maybe we'll hit it off. Maybe we want I. Hope they're my personality style is that your plan or are you actually systematically programming yourself for success? So analogy, I like remember hoping write this chapter the analogy for this would specifically. For example, a great coach rate. Before the big game, he's going to go to the locker room. He's obviously people pumped up sometimes it's a lot of energy and enthusiasm other times. It's essentially going to be more calmer. It's going to be different approaches to achieve the same result, which is absolute focus on the mission. And every every sort of professional. You know I remember hearing someone tell me that they were on stage with Tony Robinson there are back. Before twenty goes on stage, Tony has routine where he basically goes through rumor no I can hear him and he starts screaming and pumping his arms and basically pumping himself up. So he pumps himself up and that's his routine that does before every event. And everyone who is a professional? Has a similar pattern to prepare. That is your professional musician people who are professionals do have a system to follow and yet real estate agents don't. Yes. And in fact you and I witnessed this once at a Formula One race I. Think it was Daniel Required. Ricardo Yeah and he was sitting next to his car getting ready for the Lap He was hiding behind a barrier wall but he you can tell he was like in his own doing his routine he was doing a little dance listening. If you guys don't fall formula you're talking about but he was just doing this little dance nobody was supposed to see we had really great seats. So we could see and he was just doing this little dance pumping himself up and it's actually quite entertaining to watch. Interesting but we can tell what he was up to. When the Olympics are on I like to watch the athletes before they go into their routine especially gymnastics and ice skating but you could really it could be anything and I try to predict little game I play to try to predict who's going to do the best based on what their pre routine looks like. Do they look like they're absolutely freaking out in about to you know Go far from the bathroom or they look like they really are focused. So let's let's put another spin on this. There's something known as the rifleman's creed. It's also been called my rifle, the creed of the United States Marine. Every marine has is actually required to memorize it and every marine must live by it. Here's a little extra. This is my rifle there are many like it. But this one is mine it is my life I must master it as I master my life, my rifle without me is useless without my rifle I am useless I must fire my rifle true when most shoot straighter than the enemy is trying to kill me I must shoot him before he shoots me I. Will my rifle on myself know that what counts in war are not? The rounds we fire the noise we burster the smoke we make we know that it's the hits that count and it goes on obviously my rifle. Myself are the defenders of my country where the masters of the enemy we're the saviors of my life. So be it until victory is America's and there is no enemy but piece that's what marines say before they go into battle and. You know defend. US Oh okay. So that's one way to look at it. We also like from different spins same idea pastor Joel embiid gene uses another positive and powerful short prayer to open each of his messages. It goes like this. This is my Bible m what it says I. Am I have what it says I have I can do what it says I can do today will be taught the word of God I boldly confess my mind is alert my heart is receptive I'll never be the same in Jesus name God bless you. Okay. So that's a shorter but seem Similar. Thanks so You'RE GONNA be wrote one for the listing agent but you know be funniest Joey started. Every church service reading the Marine Marineland with the rifle. They'd be like, what? Definitely? Okay. So hopefully, you guys are getting the point you need to be prepared. You need to have your mind straight before you go in and make sure that you're going to be of service to the person you're in front of. So we helped you out with us and you guys can get this from the buck you can modify, it can personalize it, make it your own. So again, the point of this is To read this, this becomes your pre listing mantra. Read it in your car. Read it. Before you get out of your car, get your getting your pets space. Right. So then when you walk into that House with that seller, you're very clearly focused in. I'm assuming that most of you are going to follow the listing presentation that we created that works in all price ranges all market conditions in every continued facet of this changing market, the listing presentation. That we teach you guys as part of a Premier coaching, which obviously is part of the whole listing process with part of our pre listing process. Part of all the things we teach you that is the core Focus Premier coaching. So you if you don't have a listing process listing presentation if you're not organized if you're not practice knowing, it'd be like the marine, not knowing how to load his gun so unless you actually have the tools necessary. To win the listing the greatest macho in the world's not going to make you is not going to help you achieve that goal because you're going to not have earned the right to be that list that sellers listing agent because the fact you did not take the time to learn the skills to be that sellers listing agent. That's exactly right. So that's what we can help you with. This is right out of the Harris rules but but also. In the coaching program, as well as we dedicated a podcast to the concept of don't go if you don't know that's a skills based pre-listing routine where you know what the seller has in mind for price, you know what their motivation is you know what their time frame as if they're buying or selling or both if they're talking to other agents. So there is more to this but I wanted to go over this because we hadn't talked about it on a podcast yet. So here's your pre-listing creed prayer. This is my listing presentation. It shows that I am of service here to help this homeowner, accomplish his or her goals. I'm well prepared and today I will ask Karen Questions and listen to the answers. I will show that I have what it takes to be the highest quality agent for this task. This homer will like entrust me I'm grateful to be here I'm ready to do my job at the highest level possible. I will not leave without a commitment. This is my next listing is that how you guys are approaching your listings some of you probably I know a lot of our coaching clients take seriously you're there for a reason any you know we used to say, Hey. If you're on a listening presentation, you'd better get it. You know because what do you have involved when he followed the seven step process you've generated the lead in the first place you've prequalified them. Well, you've done your follow up. You've prequalified. You've done a that took some time. Sometimes you preview before you go you do your research you call the cellar again make sure you know what's going on and they're might be a buyer side writing on. Here's the magic happens on the other side of following approach to going after listings is that you want to go on more or less than appointments they're not just they're not just apparitions in your year they're not just some things happen. Unpredictably now, and then when you know when you have a proven drill down listing a practicing pack and listing process and the listing presentation you know is going to score you that listing nine times at ten when you know any of the sellers questions when you know how to basically. Performing at the highest level as yourself as a real estate sales professional when you have that skill set and the mindset that follows in remember I said it not order guys skillset set mindset. Don't try to have the mindset in the skillset because then what will happen is your mindset will never be strong enough because your mindset is going to be saying dude, what are you saying to yourself that you have all this you know? Essentially care and feeding. When you know you don't have the skills that actually get the listing you learn and you improve your mindset. When you're an action if you do it the opposite direction, you're never gonNA get into action and if you do get into action, you won't you might think you can take the listing but if you don't know what to do and what to say, a competitor is going to handle your lunch and probably that competitor is GonNa be coached by us. That a lot and you know it is kind of funny on just a quick side. I had somebody texts me who competed against a well known one of our personal clients. And he lost, and so he was saying well Tim can you teach me the same exact process? You taught him and the answer was, of course. But still even that even though they're going to hypothetically using the same content to compete with the same sellers, the reality of it is is the what comes after that is where the real salesmanship comes in right? That's where you can start interjecting of your personality and your genocide. Wa. But it's not until if but when most agents do is they never have the skillset they're just trying to get it with their winning personalities of their familial. Connections or their social connections, but they really have no listing presentation no listing process. That's a key thing that you just said there, and there's a lot of agents that can survive on that for a while right on their personality, their connections, and that's because you're going on listings with people who already know you okay. Totally different than competitive listing situations where maybe you Kinda know them but they're also interviewing the person that sold them the house the. person they golf with and maybe their spouses contact and you know they like all of you, but somebody's going to be more skilled. Here's the interesting thing. A lot of you guys think that the only way you get listings, the centers of influence in past clients. The only way you get listings is essentially that sort of business and that if you have to compete against someone that the seller knows you're not gonNA take the thing that's absolutely. Not True there is no reason that you can't take lessons from sellers that you've never met before other than just basically, you know a lead from a phone call or something of that nature you can go out enlist houses, any price range at any market condition when people learn how to actually be professional listing agents that also gives you something called freedom. 'CAUSE you're not married to a particular geographic area agents who are senators have influenced past client. Do that's our only thing or they're essentially have really invested themselves in a small geographic area. They built themselves a nice golden cage and those skills are not transferable. If you get sick of living in Ohio and dealing with a high of winners like Jillian I, did you move to someplace where it's seventy degrees year round? And you're only in your business is solely based on that local geography or it's solely based on buying leads. It's all these other normal things at agents have done and you don't have the skill sets that will transfer to a different market. You can't move your there forever because you've overinvested that particular market. If you know how to proactively generate, you can go anywhere that you have. A real estate license obviously, you can do it. We instruct you to do and you'll be able to take listings and we've had thousands of coaching clients that have had the freedom because they had the skill set that they could go anywhere in the market anywhere in the country, and they could then essentially replaced the business that they had where they started. That's the gift of having. Skills that's the gift of essentially you know having the the the angst fullness to devolve the real drill down skills, knowing how to do what you don't want to do, and you don't want to do at the highest level that gives you freedom and that's want for all of you guys. So really where the rubber meets the road on this conversation, is that one of the number? One projects. Every single one of you should have in your real estate business. No matter how seasoned and grizzled you are is that you have to get better at listing properties because the competition from the listing side is going to be fair in two, thousand, twenty one in forward because of all the things we talk about on this podcast, the I. Buyers, and all these other sort of. NEW MODEL real estate entities that are entering in you can compete. You can win you. There's nobody out there. There's no great idea that you can equally match. You just have to basically have earned the right to win the listing over the buyer in listing over the big team, not even that to me or the discounter more of love were seeing a lot more for sale by owners right now. Okay. So sometimes, you're not even competing guess another agent you're competing against somebody's thought they can do a better job on their own than you can rate well I mean on some markets you the sellers are able to sell their houses themselves. So fast, the guys guess what? They're going to have to buy something on the way. So start the conversation there. And maybe. Coaching, Clients Jelena's to where they are in markets where where the sell themselves. Well, we do have something called the flexible fee, which is part of the pre listing pack and Julian are selling real estate. Some of the markets we worked in they were. physicals were very effective there, and so we developed a flexible fee in that allows the seller to in some cases they can still try to sell the house themselves while the properties listed with you. This is all what we teach you in the pre listed part of the pre listing pack and listing presentation. Again, what we've done with the system that we've created if we essentially removed all the objections, all the things you fear about having come out of the House of the sellers listing appointments, we cover the in the pre listing pack, the commission's covered the. Service guarantees are covered. It's all basically risk reversal said, the seller has an easy decision when they decided to hire you and the other thing about our system is we wanted to create a system that did all the heavy lifting for you prior to getting to the sellers house. In other words, we wanted to create a system that made it. So the sellers questions in maybe even some questions they hadn't thought of were completely answered prior to you getting there so that when you were at the sellers house the only thing related to follow her listing presentation. Used system we call the sharpie close and that whole process takes fifteen or twenty minutes, but it takes a really effective realistic pack like the one we've created to make it so that when you're at the sellers house all the tension that's normally there when you're meeting with the seller especially when you don't know but really any seller is go on, they're not going to have to ask what you're doing to market the home. They're not going to have to ask what you're doing. You communicate with them, what you're going to charge as far as commissions what you're GonNa do as far as. Internet marketing what you'RE GONNA get it at. It's all there. So all their questions have been answered ahead of time and also part of our pre listing pack and you guys love this except if you're the one competing against this is we in our pre listing pack give you guys A. Twenty. Twenty or twenty five twenty questions, Yep? Okay. twenty-one questions to the seller is given. So imagine this, it's a form it's designed for the seller to use when interviewing your competitors. So it's a question like one of the questions is remember this is a seller asking someone that the sellers considering hiring as their listing agent and the question might be, for example, what Mr, potential listing agent, or Mrs Potential. Listing agent. What's your average days in the market? Okay. And then underneath that in brackets, it's it says what your average days on the market is. So Tim and Julie's average days on the market. You know whatever it is six point, three days or twenty one point seven or whatever. It is art when we sold real estate, ours was ninety one and the average for the last was one, hundred, eighty, three or something crazy. Over six months so you know Mr Seller wettest. What would it mean to you to sell your house in half the time and that was our averages and we are exposing the fact of the averages were for the MOS and then the sellers asking the potential agent that you're competing with that question, and then they're going to quickly figure out that not only does the listing agent not really know what their days on the market is they're probably going to lie to try to cover up. The fact that they don't know what they're listening with their average days in the market is in these questions on this question for get progressively harder again that it's designed to make the seller be very wise as to who they're hiring for the job of selling their home. So they are only going to list with you because at the end and I remember when Julian are going listing appointments when the sellers had used these, you'd you'd see the. You know when you get again, we teach you. This is A. Listing process when you're sitting at the table with the seller. Bring the pre listing pack over, and then again, the pre-listing package designed in such a way that you can tell exactly what they're what pages they read. You can essentially see if used the questionnaire thing if the interviewed other agents all this stuff, but you can also see how far down the list of twenty questions or twenty-one questions they got when interviewing. Perspective. That agent how far they got down the list and I don't remember a single time where the seller had asked the agents more than maybe four to six of the questions and the reason that they stopped asking the agents those questions is because they realized that the agents did know the answer and asking the agency's questions that was making him squirm probably made the seller uncomfortable. May the agent uncomfortable but oh, a really shone light on the fact that this agent is not as skilled and competent is say, for example, Julia Network and we took lots and. Lots of listings just off that forum matter of fact I can tell you guys stories it sounds like it's made up, but it's not and a couple of Americans were Jelena would sell real estate. We get called out on listing appointments maybe we call them we proactively Lee generated them or whatever. So we had listing appointment and there was a while where we were going on usually two but sometimes three appointments day we ended up actually having to have someone help us with listing appointments was coming so fast and furious but here's what happened in this particular market. Maybe the seller felt inclined to interview three different agents. We would walk up to sellers houses on the Dan time of our appointment. And the seller would often times have already filled out the listing paperwork because that's one of the things we want you guys to do is include the listing paperwork in your pre-listing pack already filled out and you're going to say, well, how do we come up with the price I tell you that Jillian I tell you how to do that in the coaching program you know and the the seller would have already filled out the paperwork just. Handed us the contract and basically we didn't even need to present. It was already done because they used our pre-listing pack. You think I'm exaggerating, but I am not that's what happens when you're dominant in the marketplace. But what did we do? What was it really doing the work for us? It was the pre listing pack. The pre-listing pack had presold. Julia night had done all the heavy lifting with regards to answer all the tough questions and. Had put the seller in a position where there are making a knowledgeable decision based on that twenty. One question thing we gave them not just an emotional one or not just because social connections. So this is what you're. This is what's called being competitive. This is what's called winning. So you guys need to take seriously this time of year and really drill down on your you're listening skills, and if you're a seasoned veteran and you don't you. Take less things I want you to think okay and I'll tell you what the answer is. Most. Agents are SAS by taking half the listings they go on. Julie talked about this a second ago half the listings you take on an F. If zoey came home from school and she was only getting half the questions tests she would be failing well, if you're only taking half the listings you're going on your failing. So why are you failing? and. Here's what agents do they rationalize their failures. The other agent told them a higher price. The other agent that the seller higher must have had a social connection. All this rationalization opposed actually owning the fact that you didn't get the listing because you not good enough. You have when you fail you have to fully engage in the feeling of failure because that fear or that horrible feeling is going to cause you to actually get better if you rationalize not suffering the feeling of failure, there's GonNa be nothing that's going to force you to actually expand your skill set so you could not fail again. And unfortunately, most agents come to us after having had their butts handed to him, enlisting appointments, numerous times, and then they realize that their cat and monkey showed that they'd woven together for listening presentation really was kind of terrible and it wasn't designed to actually help the seller, make a decision to hire them and that's Frankly, alive you guys discover us is because you'll learn how to be powerful listing agents. So the moral of the story here is this time of year even if you're if you're a seasoned veteran agent and you gotta take a hard look at the fact that you could do better if you're a new agent, obviously you've got you know you're blessed because you. Have a lot of room to improve don't learn bad things you have to unlearn. Don't waste your time doing dumb things you're going to have to basically you know be angry at yourself in the future having wasted time doing drill down remember this business. This industry life in general is all about being of service to other people the way your service to other people. tiktok videos or facebook posts or liking. Somebody's whatever the way of services is you solve their problem and the problem that these folks have is getting their house sold for the most money least amount of time the short with. The fewest hassles, right. That is what your objective is. That is what your goal is and you have to earn the skills. If you went to do all the, you know the silliness that's being pushed on agents as far as what you guys should be doing far for building your businesses do it after you have a killer skillset, do it after you have you know how to proactively lead generate not before this kind of intuitively makes sense. Doesn't it? You know I mean, think any professional for example, it's always plenty to think like you need to hire a dentist rate. Let's say a dentist of replaced. Whatever some dental issue? Well, if that dentist has, they're calling themselves Denison you guys call yourself real estate professionals, but the dentist actually maybe didn't really go to real estate or didn't go to dental school they may be sorta just did a night school thing didn't really have any actual experience but Dan. This Dennis has got great marketing man. They're all over facebook all over everything social and they look like fantastic fun loving people. But then you gotta their dental practice and you're sitting there waiting to have your tooth worked on and you quickly realize from just talking to this person that was all. They don't actually have the skill set to solve your problem. Do you see how when you're thinking of yourself as a professional you have to be the person that knows how to solve the problem first, and here's a little secret that nobody tells you win. You are known as the person that can solve problems and selling a house of solving a problem Outta high level. You will not have to do any of the fluff because the business will actually start coming to you because you'll have a reputation for somebody. WHO's a true professional? And we have thousands of coaching clients out there. That are the top producers in the country making millions of dollars per year, a lot of these agents, and you will not have ever heard of them because they focus on being of service to their sellers. They don't do fluff actually I know chuck, Williamson's listening I'm thinking of Chuck Williamson's I'm talking chuck. Williamson has maybe an assistant and a half he's going to do I don't even know how much in commissions this year. Millions of dollars in commissions he sells at most I think like two hundred, maybe two hundred and fifty units. He is in turn remember. Wilson North. Carolina. His you know his whole business is predicated on proactively generation I had to show him how to use a facebook business page and he's younger than me. Well, I'm not criticizing him. I was complimenting him. I was glad he'd never wasted any of the time with that because you know what? It wouldn't have done anything to help them lead generate in the truest sense because he goes right after the most motivated sellers and he has the skill set to convert the listings, convert those conversations listing appointments isn't that what all of you truly want? Isn't it? It is right. You want to be a listing agent because that's where you get leverage that's restart create you know frankly lots of profit and with that profit you reinvest re become rich. So I got a text this morning from chuck and Chuck is found a Beautiful House on Lake In North Carolina I assume I didn't ask that he wants to buy it. He was asking me well, Tim does make any sense to purchase a property when I'm probably buying the top of the market where there probably won't be any appreciate basically. Conceding that it was going to be a crappy investment to which I responded chuck when you earn as much money as you have when you've been successful for as long as you have at the level that you have what difference does it make all decisions with regards to money do not have to basically be with return on investment in mind and then I ended it with you only live once and you're a real long time which he appreciated, and I'm hoping get pictures chuck the cabin. On the lake that you're buying K.. So send him I, WanNa see him so moral the story here guys you want in this business comes on the other side of long periods of doing what you WanNa do when you don't want to do at the highest level Jillian I will never change our message to placate the Trans. We always tell you the truth even when you don't WanNa hear it and when you fall in skin your knee, we will help you get up and we'll say Did you hurt the sidewalk like any good parental figure would right? It's an old. That's what my dad always just say to us. You guys get the joke, right? And then we're going to set you back on course and get you back to work. That is what the job of coach is. It's not just the raw you feel good it's making suffer the pain learn from the pain pick yourself back up again and get back in the ring. That's what you should be doing for yourself or allowing us to do for you. That's how you get better and you don't have to wait decades and decades to become a dominant listing agent. You can do it right out of the Gates Julian I did our first year in the business when we sold one hundred, three houses, we had no previous real estate experience to speak of. We bought a house in college done about it. And Yeah and how do we do it? Exactly like what we're suggesting you guys do as part of our coaching program now clearly over the last two decades. The systems in the practices and everything that we have you guys do as part of our coaching program is vastly superior to what we're doing in our early twenty s. but the moral of the story is is what we did in our early twenties was the real work of real estate. It's the same thing that chuck is doing. Now it's the same thing that the top listing agents. In the country are doing, I'll give you another example jade mills you guys know her she's quite famous enroll state and she is on the West Coast and she sells luxury real estate she has you know probably one of the best reputations now I know in the current vernacular save brands but I'm not going to because what a brand is brands are being branding is being sold to you. Guys as some sort of shortcut to actually having built a reputation which by the way that's another great lie. So anyway, she has a great reputation up being one of the most successful agents certainly l. a. and let alone the country and I was interviewing you guys can google search and you'll find the podcast. It's from a while ago but she was I we're talking about teams in. You know what it was. Funny. I asked her how many people were under team already know the answer but I asked her so I wanted to talk about it and she paused and I know why she paused before she answered the question I'll tell you in the second. Then she says I don't have a team. This is what I do. This is the reason I do it the way I do it, and now what was the point? She knows it teams and a lot of these other things have become almost like political or religious movements. In other words if you're pro pro that somehow you're not part of the modern real estate Zeitgeist, just it's craziness. So she then went off to explained that her customers obviously do business with her and she wants to make sure that. They never feel delegated and she's doing expensive stuff. But the real reason why? Because she knew and she and I talked about this on the podcast that teams are not profitable and not more and more than that. The team model as it's been pushed on most of the industry that you guys are sort of seemingly following blindly blindly is does not equal maiocco more transactions at make equal more. Dollar volume and you may think I'm delegating everything. So I'm taking myself out of the front lines of dealing with buyers or sellers, but you're just replacing the work that you were doing before working with buyers and sellers now working in worrying about your team and ultimately the most efficient and profitable real estate practices are done like Chuck Williamson are done like Jade Mills are done like Rob Johnson. and. Connecticut the number one agent in Connecticut are done by people who understand that when they're building a business that the point of the real estate business, you don't get rich in real estate guys. As we say, all the time you get rich from the profits that come from selling real estate, and if you don't have prophets, then guess what you have. No chance of ever being financially free. So hopefully, all these messages appeal to. Do, this wouldn't be the number one listen to daily podcast in the nation. Do Take Delays Advice get the book Harris Rules. Do. Not Let yourself just sort of coast into the new year. Hold yourself accountable to making next year your best year ever not just an okay year not just a continuation of this year but knock it out of the park. Why not? Why not just hit the hard reset load in new software an attack twenty, twenty one don't worry about all the things that the media's telling you to worry about you know hit the WHO cares button on that one you just focus on making your twenty twenty one the best year ever for physical focus on physical focus on financial focus on the. Things that matter to you but as a real estate professional next year is going to be one of we're entering into. What we think is a long term trend. We're real estate is going to absolutely take off and go to the next level like we never experienced before it's going to be you are in the right place at the right time. Now, it's really important that you move away from the fluff in the bright shiny objects and you drill down and accept the fact that if you WanNa be relevant if you WANNA to be rich, you've got to have the skill sets to earn. The right to be of service to other cell to sellers. primarily. If you're not doing that, you're going to quickly find yourself becoming obsolete listen to our past podcast. Guys don't fear change embrace. Let let your competitors spirit you embrace it you look for it you love it and then you basically become part of it and you're mark gets you know you become the change agent don't be don't be afraid to be the only agent that's not doing all the silly things that makes agents, Brooks and teams broken brokers Brooke be the agent that actually runs a profitable business, the agent that actually Becomes independently wealthy from investments you buy from the Prophet you create from your allstate business you are in the right business. This is the right time, but it's all dependent on whether or not. You're going to do the smart thing and take the right actions. So guys drill down be impatient don't give yourself a break. Don't stop and smell the roses K. don't wait to feel the passion just do the work on the other side of that is what you want in life I. Promise you consider getting the book heiress rules. It's available at Barnes and Noble Amazon Dot Com. It's available everywhere. Really. Can Thank you for making that book bestseller. Thank you. For All of you guys have given us five star reviews on I tunes and all the other places. We certainly appreciate it and thank you for continuing to make this number. LISTEN TO PODCASTS for agents. If you guys need me for anything noise text me directly five, one, two, seven, five, eight, Oh, two Oh, six especially if you want to talk with me about joining R. E. X. P. Group, just text me directly at five one, two, seven, five, eight, zero, two, zero six. Thank you have a fantastic day. This program has been a presentation by Tim and Julie Harris Real Estate Coaching for more information on three will stay coaching and training programs visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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Podcast: Short Sales, Foreclosures Coming Soon? | Tim and Julie Harris

Real Estate Coaching Radio

28:47 min | 9 months ago

Podcast: Short Sales, Foreclosures Coming Soon? | Tim and Julie Harris

"Welcome to real estate. Coaching. Radio. Starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Real. Estate Coaching Radio is the nation's number one daily radio show for realtors who demand Authentic Real, time coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts, tim and Julie Hairs. Three to one, and we are back as August the sixth. Hopefully you're having a fantastic day. Julie You've been on coaching calls we like to always break up the podcast. Right. We give you guys and we're intentionally giving you guys stories from our coaching calls what we're from our other coaches. What we're hearing from just all of our different private facebook groups every place where our. Coaching members and everyone else goes to discuss what's going on their markets. Julian are always calling the most relevant information from around the country so that we can then give you guys a real glimpse into the future and what we saw just to set you up. So it's easier sure as we saw probably about maybe we can have two weeks ago the nature of the questions from our coaching clients especially on the Premier coaching call, which happens every single day it's a daily life semi private coaching call happens right after this podcast by the way. The questions radically change. I. Would totally agree with that and in fact, yesterday we went an entire. On that call because there were so many. Complicated issues to be honest with you. Those are not close closing themselves anymore You know there's a definite trend amongst the lenders to be cracking down fairly severely on their requirements. So we heard about all kinds of you know you calm lender overlays but things like. An example would be a buyer was told that they could buy a Condo for ten percent down okay and that would normally be fine but three days before closing the underwriter says, you know what? The HOA hasn't been paid by about twenty percent of that population. Now, you've got paid put down fifteen or twenty percent. So before you guys fall into the trap of thinking just evil lender here's. The lender doing they are anticipating there'd be a market adjustment and by adjustment I mean they're not sure what's going to go on anymore than really any of the rest of us are but they're not expecting prices to continue to rise. They're not expecting unemployment to all the sudden go to where it was pre covid. They're not expecting there to be any kind of massive turnaround in the economy. There are mitigating risk ahead of time so they're doing and so if you WanNa know what the lenders are thinking and we put articles up on Tim and Julie Harris Dot Com. It's funny to that. These articles are never from like press releases or whatever they're anecdotal pieces of evidence that come from different sources and then eventually put all together. Then you realize well, guess what Wells Fargo is no longer doing million dollar above a revised unless you have a million dollars on deposits with Wells Fargo and there was another article that we put up on. Tim and Julie Harris DOT COM or I. Think, our reporters are working on it maybe today that's talking about J. P. Morgan Right? They're putting all kinds of crazy overlays and just remind you guys just think of an overlay exactly how it sounds. So here in one, just imagine a box right in a box inside the box of the specific requirements to obtain a mortgage based on the mortgage standards by Fannie, Mae, Freddie Mac anything government-backed, which is a majority of you know the non jumbo type products out there. Okay. So here's the set of rules established by the government, and then what happens is the banks put their overlays on top. So. Then they put a big blanket let's say it's a good way of describing it on top of the box in the then you have to not only meet their minimum requirements set by the government which are relatively easy to do. But then now you have to start meeting whatever the overlays are, and so the bank might or the government might say we will give somebody conforming loan for less than six fifty and their credit doesn't have to their credit can be right as rain at six, fifty or six, forty whatever, and then the lenders are going to say, Nope, anybody's GONNA get A. Mortgage through us is going to have to have a minimum credit score of maybe seven fifty and we we started telling you guys about all that happening about a month ago, and again, the lenders aren't going to tell the underwriters the under the loan officers the officers are going to find out when it's an underwriting when the mortgage standards start to change, and so this is what we're starting to see, and then you're gonNA start seeing I think this is going to be the next big wave of offer a lot of agents that the market is indeed shifting are the praise will problems where? Big Ones not like one, hundred, thousand off but we're seeing five, ten, twenty, I think thirty thousand last week was the biggest one I saw. and you know it's funny. You can really tell that most of the agents have not been through stuff like this but you told me a story they typically go. Can they do that? Yes the answer is yes. They can do that. You told me a story yesterday about an agent on the premier coaching call who basically walked lost listing because this agent didn't know what short sell or short payoff. Can you tell that story fact just told story? Yes she was on the buyer side and the deal did not come together because the listing agent. Dealing with once said, she submitted the offer the moment was wait a minute. This is going to be short sell and they both failed basically the listing agent I think was more responsible. And so I was like, well, how short are they? Right because just because you know it's assumed to be short. So it might be a short payoff you could do. You know. The the lean. That's What is that called where it's secure? Line of credit look talk but my point is there's lots of different options they just assumed that the deal was basically dead. So here it was the scenario was there was a buyer trying to put her her virus and contract on a house. The listing agent had not done the homework on the pay off the mortgage and other words. These are all skills space that she'd done into there too late. Exactly. So the deal is in contract this listing agent then because they did not provide a net, she'd had time they did not provide or find out what other mortgage balances were if there are. Any back taxes or Hov Hoa fees all the Mickey Mouse associated with selling a house. Maybe you're in a part of the country, there's a transfer task tax who knows. So what happened was is the house is listed. The eight listing agent did not obviously do a really good job taking care of their seller goes into contract buyer's agent then goes through the rigamarole buyer, and then they find out that the seller is going to have to bring a check to closing in order to get rid of the house listing agent doesn't know what to do to help the seller the whole deal blows up sellers. Sit there. Not Knowing what to do might lose the house in foreclosure. Now, here's where they Harris trained agent would know how to do even on the buyer side you'd find out what the seller was underwater by and chances are that amount of money could be mitigated a million different ways. By mitigated I mean made to be a non issue in this is what we talked about on premier. Great. We went through the. Different tiers of possibility of how to fix the problem and one of those possibilities was not called bail on the deal. Okay or you're into on the client. So we went through there's about five different ways that you can fix that problem depending on the situation whether there's one or two mortgages and how much money we're talking about and I can just tell by the questions that probably ninety five percent of agents out there. They. They hear short sale and it's like they've been hit by a stun gun and they just don't know what to do. They don't know the questions to ask they don't know the resolution, and so we talked about all that and we also talked about the fact that two things can be true at the same time. You can have most of your deals kind of feeling like a hot sellers market and then you're listening to parliament tonight it turns out for whatever reason that are going to be short if they sell it for what is actually worth I think this is also a factor that's causing expired today. Is because agents kind of figure aspirational pricing will cause. The seller may break even or maybe walk away with a few thousand dollars, and in fact, the markets no longer achieving that thus making them break even or worse overpricing listening to competent over hopefully, the market will somehow be fooled into playing more than the is worth and then trying to come over comp basically cover the fact that had the house been priced and sold correctly to market. Then the seller would have been underwater. But now what we're saying is `buyers unwillingness to overpay, and so now you're going to see the cold harsh reality of some of these. Situations that are going to be happy across the country. Now here, I'm going to sprinkle this little statistical fact on you guys something like eighty, five percent of all real estate agents fail within a eighteen months they're out of the business. Now, why do they fail you guys can say lack of training. Lack of this lack of the other thing and all those things are true. But really what it is is lack of desire to learn how to help people really the heart of why people fail because if you're in a situation and you run up across somebody who's going to be, you know not able to sell the house because they're underwater by like ten or fifteen grand or something an inconsequential not of money. There are a million and one ways to solve that problem that would not. Adversely affect the seller's credit would not require for example, a short sale would not require all kinds of things that you guys need to learn how to do to be relevant in this market and the point Julius made is incredibly powerful. Most of your markets are going to be what we call bifurcated. There's going to be two things going on at the same time, but you're GONNA have to know how to solve problems in both scenarios. Here's a for example, would if you have a buyer That selling out of the house where they're going to possibly be under water unless you know how to help them work through that, and maybe they don't have enough money to essentially write a check to cover the negative equity on their property. In other words, they owe more than it's worth that money they need to buy their next house. So they've saved up fifty grand they're underwater by twenty five grand on the current house they want to buy another house from you but need that fifty. To, put a down payment on the next one you guys right there don't know how to solve the problem other than telling the soda write the check for the twenty five grand. Well, that'll make it. So they can't qualify for the next one you guys following me on all of this. So you need to learn how to solve these unique problems because as we've been hopefully impressing upon you unique problems with us about in the new market especially during this transitioning face, it's definitely already happening. There's more questions about in in those types of scenarios you know like quad why would I want that listing I don't know where the sellers even gonNA move like you're absorbing some kind of accountability for their situation. What's not your fault? The House appreciated for ten years. It's not your fault depreciates or when they refinanced out the Wazoo now can't you know break even so I think there's some. kind of like just emotional consternation out there amongst agents that they they're uncomfortable with those questions and the other thing you just mentioned you know seller sometimes write checks closing that is a radical five for today's you don't really have to I. Mean There's anyway so. You have all different situation, a short payoff and unsecured line of credit from the bank. There's so many different ways to basically solve those problems, but you have to know how to do it and here. So to the point earlier that virtually every agent fails after. Eighteen months well, that also should tell you that essentially I have to always remind myself this and Julie this we sometimes, we forget the fact that frankly the short sale reo distressed market you know wave of horror was all in two thousand and seven, and this is almost two thousand and twenty one. It's a billion years ago and so many of you weren't even in the business then that we always have to slow ourselves down, remind ourselves that these are not just strange terms for you guys as a practitioner. But I, bet you your brokers don't know how to solve these problems the office managers. So you're surrounded by people who don't know how To solve these problems, which means that until this until the real estate collective as it were where to wake up the fact that the market's going to adjust and most people will wait to on most agents and brokers. Wait until they start losing business to agents that have learned a new skill set. It's an interesting thought because one thing that's different I'm saying is that yes, it's probably true agents and brokers will wait too long but right now the sellers don't seem to be waiting too long. They seem to be selling in anticipation of not making their payments that seems to be like, what do you mean by that? Well, said before it was like. Some prime mortgage, all the different reasons that had happened it was like blam out nobody really knew what to do nobody knew how to manage short sale it was just a mess right? Even remember but this time that's in people's heads homeowners and they're like, you know what I know I've been furloughed I know even if I go back I'm going to be working at like forty percent of my income ray I. Know that this is too much house payment for me. I'm not sure about my spouse's jobs. So here's what we're GONNA. Do we're going to downsize now before we start missing payments right and then they priced The House to they want a price, the house possibly more aggressively than the listing agent who who doesn't know how to deal with the situation. Right so I, think the sellers are actually selling sooner based on the cases that I'm hearing of listings. The reasons for listings are all stuff like that, and you know the fact is in some markets they can basically be aspirational prices. You're fond of saying you get away with it. Yeah. Right now you know depending on the competition and what it looks like you can get out, but I don't think that's going to last that long no, and so just to put this out. What you're seeing are people who have put down like Julian I sold real estate just to drive this home just so you guys can know it a normal market or even a buyer's market feels like when we sold real estate and you know, Ohio, Columbus Ohio for almost a decade between one hundred and two hundred houses per year. So we know we're talking about here I would say a vast majority of the homeowners that we help sell houses for made effectively no money on their houses unless. They lived in the House for probably ten fifteen years. They made their down payment back in that was about it. That's right. They lost the interest they paid on the mortgage they lost the maintenance and upkeep on the house the new roof they didn't get that money back. So if you've ever penned out in a normal market like the you know an essence, what you'd see people would the house would increase in cost every year by maybe two or three percent in other words the cost of inflation. But. If you factor in what their down payment was to stay in the house, an average of about seven years before they could sell the house and expect to not lose the down payment in this in this or at least a part of it selling the house. So for example, if they put down fifteen percent, let's say the cost of selling the house or ten percents probably more. Common the cost of selling the House with commissions and selling these and all that is going to be just about ten percent. So you guys can do the math in your heads. That's the market we're headed into. Now some of you guys are thinking and I understand well, why would someone want to buy a house? The same reason that people have stoically bought houses before houses became the Willie. Winning golden tickets minus reason that they're gonNA make a gazillion dollars because people right? Exactly. Because people need a place to live. That's why I mean. There are markets that we've had the number one agent in Greenwich, Connecticut Rob Johnson Who is a longtime coaching client his now up until literally until postcode now is markets hot 'cause all the People Living York City. But his market you're seeing people lose thirty fifty just ridiculous percents and these are multimillion dollar house losses were happening and yet houses were still selling and yet he's still sold one hundred and forty million dollars real estate last year why did he sell that much people knowing? Too Smart wealthy people who are going to buy a house that they knew. There's an excellent chance. They'd lose money on because they like the community because they needed a place to live because they like the schools because that those are the real core reasons why people buy real estate and so if you're stuck in this paradigm that the only reason someone's GonNa, buy a house that's because they're gonNa make money you are going to suffer because that argument is about to go out the window because for the most part, you're not going to be able to make that argument people moving forward purchasing houses exempts does I read an article this morning to another factor that we might see coming? People are talking about how long virtual schools going to last and the this housing wire thing that I read and the. They were talking about basically ninety percent of people move because of school district I gotTa have that School District Okay, and so not only was that a deciding factor, but it also affected home values right so if you've got a house that's as rare as hen's teeth and it highly desirable school district, it's going to sell for more. So if this digital distance learning goes on for more than a year, people are starting to say, well, maybe I don't need to pay those property taxes maybe I can live a little further out a little bit Moorland. The San Francisco Bay area. There's a broker that was interviewed there and he said zero percent of the time people requesting school district and he said last year one, hundred percent of the time that was the number one thing I just sent you another article. All the stuff is predictable rate but I say you another article 'cause this is basically what Cova dead is. It's changed what's probably been maybe twenty or thirty year trend towards people urbanised and again it's it's really completely re read essentially rejigging the deck. So the other thing is B. R. B. O. Julie they searches for people looking to buy or Rent places that are essence rural, not even semi-rural are through the roof. Those are the most common popular rentals that they're saying right now. Yeah, it's awesome I mean it's here's the reasons to exciting. It's exciting as long as you're not. As long as you're seeing the fact that from all this change that's happening this going to be more opportunities remember guys the greatest opportunity to help people and frankly the greatest fortunes in the history of Man of always been made during the greatest times have changed coded was just the pin that pop the bubble in essence was the was the thing that stopped all of these long term trends and. Ushered in a what we're starting to all I think here together realize are the new trends, the new way that all of us are gonNA live like I'm excited to think about how all the positive things that are gonNA come from the People's changing lifestyles I. Mean you're GonNa see a lot of people and I already read about you guys are probably feeling it where questioning whether or not your. Lifestyle going forward is going to be what your lifestyle was in the past because maybe you don't need to live where you need to let maybe you don't need to have the expensive property taxes maybe you're finally going to not wait till your retirement to buy that farm in the middle of nowhere you're GonNa do it now because you can hop the kid on zoom and have the kid had. All that all those things are all those things are going to usher in a real and so when people aren't having to work constantly or they're not working for the reasons of the same well of intensity, the nat leaves room for a lot of invention creation that leaves room for a lot of creativity that wouldn't have otherwise been there because people are so busy working and so busy trying to basically keep up with the Joneses and the rest of it. So those things are very very fascinating trends and Julius headed off now to premier coaching so you'll have a great coaching call. That's right. Those of you guys are in Premier coaching make sure you attend the daily Semi Private Coaching Call Live and that's it by the way those of you who are in. The Free version of Premier Coaching which is again, it's just probably maybe ten percent of the normal coaching program, but you do get the daily Semi private coaching call for free. So those of you were in that program, you definitely want to be attending the call live every day I know literally hundreds if not thousands of you listen to the call in replay but let's go to go live that way you guys can ask questions interact directly and usually Tuesday Wednesday Thursday Julia Renzo calls herself I. Mean She's been called the number one real estate coach in the nation, and this is giving you guys an opportunity to have your questions. You know ask directly but also for you to listen to the questions and answers that are being asked by agents from all over the country and Canada, you can see in real time what's truly happening now? Those of you who are in the Premier coaching program that is going to also include not only the call I just told you about but starting hopefully next week assuming I can get Miss Julie to comply and do it. We're going to be a facebook live. Semi Private coaching session. Thereafter, that's going to be for obviously premier coaching members, not the free version but normal coaching members. But in the interim, if you are sitting on the fence wondering what direction you should go or what direction you'll be unfortunately forced to go next year, get a jump on get ahead of it and we've made it super easy for you and Co would came to our source. Jillian. I decided to make this free coaching program and you can join it immediately there's. No strings attached all you have to do is text the word survival two, three, one, nine, nine, six, just text, the word survival two, three, one, nine, six when you do we're going to text you back link you have to click the link and activate your membership, and then you're going to law again and you're going to see them the ultimate agent survival guide the real estate treasure map thinking we're rich for real estate you're going to see all this content that we've left there for. You guys to us so that'll give you direction. Your real estate business is free. There's no strings attached just text the word survival two, three, one, nine, nine, six. So really incredibly important that you guys do that because what we're starting to do is we're updating all our short sale information updating all the reo, all the all the distressed information that way when you walk into a sellers house, no matter what their situation is you're gonna be able to solve their problem now once you Guys to be thinking big and not being fearful in the with regards to the changes here. I'm GonNa give you an example and Julie touched on this a second ago at the end of the every month and beginning of the falling, there's always a ton of expired listings listings that were usually maybe they had a condition issue, a price you were location issue something like that right but usually in this type of market, it's mostly a overpricing issue there are going to be across the country. Thousands and thousands of expired listings ernest start hitting the market because the market has changed so quick and it's changed with listing agent not knowing how to get price adjustments that you're going to see a wave of especially going to next year, you're going to see a wave of expired listings if IRA getting back into the real estate business right now, the sell real estate fulltime I would be focusing. You know eight hours a day on going. After expired listings, what do you know about an explicit they have to sell they're willing to pay commission and you know what the price isn't those three things are going to put you in a fantastic position to get the listings on as you know what to say and how to say it. But what you're going to discover is what we were just talking about a lot of the expired are expiring because their current listing agents nine overpriced. Overpriced because the seller has some kind of extraneous financial problem maybe it's underwater maybe it's something else and once you know how to solve those problems. Imagine how confident you're GonNa feel when you see those expires pop you. If you guys want to test me on this, go back and do a search and your mos and don't just searching tiny little areas search your entire molester total board of realtors and do a search to see. Since January first and in all cases, you're going to see thousands unless you live out known on Tanna or something you're going to see thousands of expired listings, and that should shock you because those are sellers that still want to sell. Now your biggest competitor where you go after an expired listings, the previous listing agent but in a market like this, where the previous listing agent has already demonstrated their inability to help the seller with their financial problem, not just a condition issue like you got to paint a room or. Price the house, the problems are more significant than a lot of these sellers we're going to be experiencing. If you know how to solve that problem when you call that seller and you speak with that seller in, you know the solution to their problem, their previous listing agent didn't and a lot of cases the sellers won't even know that there was a solution to their problem and you tell them how you can solve their problem. You're going to be telling you guys you'RE GONNA. Feel so amazing because you're GonNa now have a light you're going to have that epiphany. Maybe you've been looking for and you're going to see a YA. This is what it means to feel like I'm in the right place at the right time and the way you have that experience you have to know how to solve the problem, and this is you guys putting the pieces together here. So when we say there's never been a time at least in the last twenty five or thirty years we're caring competent skilled agents have been so needed you can see what we're talking about. You can see now the coming together of the prevailing thoughts with regards to. Your knowledge, your skill, your willingness to this knowledge and knowledge and skills to solve other people's problems in the improvement in your own quality of life that comes on the other side. That's just that's the whole question right there if you're not experiencing the wealth on the success in all the other things that come with. Basically being successful if you're not experiencing those things, it's not because you don't have the aptitude for it. It's not because you can't. It's just because you haven't yet earned the right to earn that money because you haven't yet earned the right to help enough people so you can have those. Financially based experiences. Hopefully, that makes sense. So the gap that you have to bridge is simply learning the skills and then being essentially earning the right to solve the problems for those mostly sellers and buyers to obviously prominently sellers, and when you when you fill that gap when you become the bridge between the problem that cellars having and the life that they want to have going forward I promise you guys everything's going to change with regards to how. You, think about not just real estate life in general 'cause then you're going to see opportunities all the way around you constantly you're now you're not going to go from somebody who's believing that you have to buy leads in the leads are hard to find this hard that star. You're then going to realize that there's an abundance of opportunity. That's you constantly like I said going look from January first today in look to see how many expires there were. Now if you want to go and have a little extra fun with that, take that same list of expired and see how many of them relisted statistically. Here's a fun fact it's over ninety percent of all expired realist- six months most of them released within the first thirty days in a seller's market. Most of them do released with the previous agent and at transitioning market where the previous agent is proven their inability because they lack skills to get the property sold they list with the agent that has the skill set. You guys get what we're getting down here have the skillset. So if you've not done so yet if you've not. Joined the Free Coaching, program. It's simple just texted survival two, three, one, nine, nine, six, just text the word survival two, three, one, nine, six in the meantime you guys are fantastic day. If you have any show suggestions if you have any questions if there's anything we can do for you at all ever. Please remember just text me directly five, one, two, seven, five, eight, Oh, two oh six. So listen guys. Thank you for continuing to make this the number one daily listen to podcasts, parole state agents, and thank you for continued to make Harris Rules are book at so fun for me to read and get emails and just randomly come. Across you guys referring to Harris rules and how it helps solve this problem and that problem how gave you clarity? That was our whole goal with Harris Rules are book we wanted to give you absolute one hundred percent drill down practical tactical. No BS clarity about what it takes to be successful one term in real estate. It's not a book of gimmicks. It's not going to be a book talking about you know Goofy lead generation ideas that are trendy this month and we'll be turning the next month. I think we mentioned the word instagram and the book, for example, maybe like none no times maybe once or twice hardly ever is the. Point because the long term in the agents who have been successful generation after generation market shift aftermarket shift are the ones that basically are not focused on the store term gimmicks that are focused on long-term increasing levels of success, and they know that comes from ultimately doing you don't want to do when you don't want to do at the highest level. Hopefully, this'll resonates with you guys if not consider getting the book Harris Rules in the meantime thank you for listening today. Remember you can listen to our thousands of past podcast on Stitcher spotify I tunes obviously our name Website Tim and Julie Harris Dot com you guys have a fantastic day. This program been a presentation by Tim and Julie. Harris Real Estate Coaching for more information on Real Estate Coaching and training programs visit our website at Tim and Julie Heiress Dot. com. Remember. To tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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Podcast: Tim and Julie Harris BOLD Predictions 2021, Part 4 | Tim and Julie Harris

Real Estate Coaching Radio

30:48 min | 4 months ago

Podcast: Tim and Julie Harris BOLD Predictions 2021, Part 4 | Tim and Julie Harris

"Welcome to real estate. Coaching radio starring award-winning real estate coaches and number one international bestselling authors. Tim and julie harris real estate coaching radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching get ready for flood. Free unfiltered full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market or hosts tim and julie hairs three to one and we're back. It is january the sixth. I'd look at my calendar. Remind myself podcast going a little bit later today because we've been so busy working on the enhancements for premier coaching and is official announcement for all of you who are in premier coaching. Yes this is an. Oh boy for julie. Starting on monday of next week. We're going to be a broadcasting live. Well we've been broadcasting live through a webinar format. But it's gonna be on facebook so for those of you who are in the premier coaching really any of the coaching programs. We are going to be broadcasting. Live on our members only page on facebook. You'll be getting obviously. I'm sure a barrage of notifications for facebook inviting you to attend. But we've been trying to put this in place for the past year and i'll be honest. The problems have been just the most basic of things. Like being that we live in. Puerto rico and we have inconsistent internet connectivity but we seemingly have that fixed so moving forward you guys in premier coaching are going to have an enhanced experience in addition to we're also going to be introducing a new modules to the coaching program and that includes a very robust marketing platform. We're also going to be talking a lot about other forms of marketing. And you guys know that were obviously advocates of all those things for advocates. And you doing them in the right order in other words. Don't start with the things that cost you money when you're building your real estate business and being profitable start with the things that are free. And that's the reason we focus so much on being proactively generator but at the same time there is a place for all those other things and soon you'll be learning. How are what are Essentially we perceive to be the best practices for all those things. So those are all enhancements coming to prepare tamir coaching and alas little announcement. We are going to be expanding this show too then. Include other podcasts presenters presenting on other unique topics. Like a gentleman. We have working for us named trevor jones. he's going to be talking specifically about internet marketing and social networking. And all that we have somebody else is going to be talking about normal marketing. But we also going to be introducing another series of podcasts again on this very same channel which are going to be interviewing some of the biggest role in the nation and by biggest. I don't mean by their weight. Obviously but we're talking a joke but it could be both the interviews out for pound the best agents now. That's bad who you get the most. Yeah ok well anyway. So yeah you guys get the idea. So the biggest ages the nation were lining up interviews with them now. Some our coaching clients. Some aren't but they're all graciously agreed to share their best practices with all of you guys on the show. We're also going to be doing a show on this very same channel in spanish and so all. These things are coming to you very soon. We're doing our best to satisfy the global demand that were seemingly have attracted over the last few years of doing this podcast. We have listeners. In over sixty different countries and our biggest listeners increases are happening in prominently a hispanic speaking countries. Now i know a lot of you guys speak. Spanish also speak perfect english. But we're still going to try to meet you where you are regardless in. Make it so that we can deliver best of breed real estate coaching content to you in the manner in which you demand so that is all happening in the next sixty to ninety days assuming julian i don't just simply fall off the face of the earth because we're trying to make it spin so much faster could happen. We're we're we're finishing up. Today's podcast on real estate predictions for twenty twenty one. And i love the feedback. We've been getting from some of you guys. We obviously loved the contrarian type of perspective on things that honestly and years like we've been having especially following twenty twenty. I think you guys will agree. That had been you know twenty. Nineteen if you would have made predictions of the things that we experience at twenty twenty. No one would have believed you. Well the predictions that we're making for twenty twenty where making predictions that evidently are expanding the thinking of a lot of you when you're listening and realizing they were probably on the right path with some of these thoughts we've had this is the fourth and i think will be the last podcast. We do on our twenty twenty one predictions. So if you've listened to the three previous shows they're available to everywhere including our main website. Tim and julie harris dot com and also stitcher itunes spotify. I mean everywhere. All the normal stuff on amazon to amazon as a podcasting channel. That's call your tech team. Just told me that's why we hired employees. We're on like fifteen different indication places. Now yeah we got an email. I forget somebody rated us top twenty something. I saw it through earning so yeah so onto rounding out our predictions podcasts point number twelve and this might cause concentration was number twelve. A little consternation to some of you. Oh hold on. You haven't worn warning warning. This one might actually make some of you angry but it is realistic. That would julie's about to read. You will be happening. Probably obviously in twenty twenty one rolling into the following years. I think what she's about to tell you is going to happen. And we will justify our position after she reached the point. Yes number twelve buyer agent business model will be influx by our agent. Commissions will be something that the buyer's agent has to ask for versus title moment. I can tell you tim. I'm already seeing this. I see this premier coaching early coaching members. Just day to day deals going on right. So for example with low inventory agents who otherwise would have survived on buyer sides and maybe never had to be a listing. Agent are now finding themselves not so guaranteed of that business right so one of the things that came out and premiered today was finding inventory. If you're looking in say the are be o- market to turn a rental into a listing. Well you're going to have to negotiate your by. Your side. commission is not even listed property. Right you have to negotiate directly if you're going to be on the buyer side and that seller may or may not want to pay you. Maybe they say you know what. Here's going to write up a contract. How about a thousand bucks. But that is exactly what's going to happen if you guys have ever built dealt with some. Let's call them headstrong for sale by owners. So that is what they'll often do is they'll basically try to say this is the price with the co op. This is the price without a co op. The reality of it is when you think about these tech companies that are entering into the space for example for example zillow and companies. Why wouldn't they try to squeeze essentially create a competitive advantage for themselves in the marketplace by reducing buyer agent commissions and thus using that as a hypothetical value proposition to the sellers. Look with us. You don't have to pay as much now. You guys know as well as i do. How the reality of things work. But how consumers perceive by our agents commissions it is a little bit of a soft spot. Because it's difficult to explain to a seller while they're paying both sides of the commission. I mean obviously. We have scripts to try to explain the whole thing. But if you're a tech company and you're trying to get a competitive advantage over the traditional way that commission's work that would be an easy thing for you to go after so the bottom line is we do believe that starting twenty twenty one. You're going to see real estate. Companies tech companies. You're gonna start seeing so that the buyer agent commission becomes something that's no longer entitlement. And being very clear about that that means the seller is not just going to automatically pay the buyer agent commission that buyer agents going to have to essentially have a separate agreement acid been around since the nineties called buyer dec- agreements whereas the seller. I'm sorry buyer is responsible for paying the buyer agents commission. Now does that mean. The buyer will have then paid out of pocket. I suppose in some cases does that mean that the buyer agent will have to then as it is in most purchase contracts. They write it into the contract bright. That's probably how this is going to evolve in our opinion so right now when you're writing a purchase contract in some states you right in with the cops going to be right not not in all states but in some states because for the most part it's listed on the In the with the coops going to be. So you don't have to put it as a point of contention in the purchase contract rate right but what we think will happen is that's going to reverse is going to become part of the overall offer to the seller in with the seller then we'll be faced with deciding essentially which operas best with them also keeping in mind with the commission is going to be so buyer agents who've never learn how to be listing agents and they've never learned how to present their value to their buyers are going to have a hard time and that's going to start. I would expect you're going to start seeing that happening in the largest cities that have like frankly. I think zillow's a lot of us. There was already testing. How low they can drive the buyer commission down in atlanta. There's been articles written about that. But and and you can track this. I think we posted this me and a half ago probably in november. Yeah where we were. I think it was zillow. Offerpad and i can't remember who the third one was like a closest blind. Yes we were you know. It was an article about tracking. They're like if it's a zillow listed house and historically they were giving three percents of the co op. Well they did that. They literally did that for ninety days. Tracked it then. They drove it down. Two point seven five percent known days track. I remember you're talking about. There's an article is on our website also talking about open door during the same thing exactly colorado or something. Yes atlanta's one and i want to say denver might be the other one in phoenix. But they were tracking and now zillow. Has i think they're in their ninety day period of trying to get only two percent the other thing that we see so. Don't think that this is something that's way in the future. It's already happening. They wanted to see how low and see how low because allstate their biggest expenses the buyer side commission. So what are they going to go after to get rid of that. The buyer side commission. We also see this very frequently with builders right when the is hot and there's not enough inventory builders would say you know what we're only going to pay one percent commission there are some builders say no commission unless you write it in and put it on the top break and then of course dealing with for sale by owners agency accustomed to having derided in. It's out there. You're just not seeing it on every deal yet but listen to what julie said these big either type companies have market tested to see what how little they can pay buyer side coop before they start essentially having it adversely affect the cell ability of the house so remember the situation is where the essentially zillow or open door. And there's frankly guys he. Xp realty has an ibm that they don't screw around your commission's you definitely look into that especially if your agent become certified to be an work with their ib program. It's fantastic but aside from that. So these i companies and there's going to be more of them but just lets us focus on zillow an open door. They have inventory. They only houses. They have no motivation. There's no listing side commission for them because their employees agents are the ones that are essentially listing the houses control right and so with delays talking about us on their investor calls. And you can read this online. Google fear own edification is that you'll discover that the buyer side commissions our biggest expense to their their whole process. And that means that. That's going to be the thing that they're going to go after to try to improve Be as well. What are they going to reduce the cost of flipping the house. They're gonna reduce the cost of materials. The cost of the labor. Are they going to be able to reduce the normal things. Probably not if anything. Those expenses are going to go up so the thing for them to go after the buyer side commissions and when they go after the buyer side commissions. What effect does that have on the overall marketplace. So if you live in one of these marketplaces and you're seeing the pay attention look in the. Mls see what's going on. So how'd you basically react to this. There's only one answer. be listing. Agent listing agent. that's ballistic listing agent by mistake or by lock because your past clients. Come to you. You're going to have to actually concentrate on being listing agent on purpose. And so that's where we can come in and help you. Of course you're not on your own with that guys. Please don't misunderstand. We're not arguing the importance of buyer agency or having your own representative in the transaction matter of fact what the output of this might be is that essentially is that the buyer agent industry. Let's say the agency prefer just only work with buyers. Which frankly. I don't know why you do that. If could be all of you would prefer to be a listing agent. If you could be obviously obviously but i'm sure there's a couple of listening are doing their arguing mentally anyway but so the moral of the story is is on the buyer agency side of the transaction. It's been mostly social exercise. You know somebody. They want to see a house. There's never conversation about your commission. You know you you basically bond with them. It's it's more as julie says. And it's in our book harris rules. You know we talked about this. It's physical labor whereas when you're working in the seller side equation it's mental. Labor requires more skill. Disciplined assistance professionalism. That's what we focus on our coaching business. Because that's where the greatest prophet is. That's where the grace is. That's where you get freedom that's restart to control your destiny versus essentially being a buyer's agent where you're just hoping and praying that the roulette wheel land on something that's going to score you a sale and that's going to be even more difficult this year probably next three to five years. What's what's with what's happening with inflation with what's happening with interest rates and overall demographics ships. Everything is going to make this ridiculously hot sellers market for some time to come and we talked about this before rehash points but go back and listen door past productions podcast which we've shown them before and we've laid down specific statistical as to why twenty twenty one is going to be the start of probably the greatest run in real estate That we've ever seen as an entire country has ever seen so make sure that you're focused on all your best energies on becoming a listing agent. If not yet downloaded your real estate treasure map that is simply are fill in the blank business plan. It's not too late for you to get that done. Please just go ahead and taxed twenty twenty. One it's free guys takes you two seconds. Most of you're listening to us on your mobile device. Go ahead and open up your sms thing right now and text twenty twenty one. The number two thousand twenty one to eight five five six eight five ten forty five texts twenty twenty one to eight five five six eight five ten forty five when you do. We're going to text you back. Not only the real estate treasure map but thinking grow rich for real estate another book. And i think it's four other books including your monthly generation. Plan the real estate treasure map. Did you send that to janet yet. By the way good you found the original job julie high five. We're updating allstate treasure map. Janitors the poor soul who works russia s to do all the editing o and again those of you who one gallon particular who really did a great job helping us edit that one of the listeners. Thank you thank you. Thank you if you ever wanted to. I don't remember your name off the top of my head but if you ever want a free coaching call just text me directly at five one. Two seven five eight two zero six. The time you took to point out. So they're grammatical. Things was very much appreciated. All right so Let thirty thank you all right. I'll read this one The real estate industry is the bright. Is the bright light post cova. It has proven to be resilient. There'll be a massive surge people getting the real estate licenses nationally and globally. Now i think that frankly i think that self evident honestly i can tell you i can prove it. Just from coaching calls. Virtually every one of our coaching clients. Who has twenty and thirty something year old kids. they're all either already licensed or getting licensed during covid for different reasons but mostly covert related. So i mean that just from my own let me let me set the stage with you. I wrote shirt are not only are we dealing with. A lot of millennials who aren't by nature but there is a huge change in the way that when you and i were in our twenties okay so when we got into real estate we are early twenties or first year in business. We sold one hundred three houses including pending 's and broke all records. Never been broken sense. Okay so there's that so. I'm trying to tell you that listeners. To know that you know hopefully you understand. Julie are jillian. I are actual genuine articles. We've been there done that. We're not fake fakey dues that are just trying to convince you where successful selling state we sold one hundred and two hundred homes per year on a normal sale price market and mostly a buyer's market in columbus ohio. But that aside here were the differences when we got into real estate when we got into real estate being a real estate agent. There was a usa today. Poll that came out every year. That said the most. To least respect to professions in real estate was always at the bottom of the list usually competing with used car salesman here in here consistently so we got into an industry that basically you had to be somewhat. I don't know say a social misfit to want to be an now has that changed in the past. It's absolutely changed. It used to be your in realistic because nobody at hire you right now. It's something that people aspire to be in societally being in real estate jewelry. Just think of all the howls and all these other websites all these bravo. Tv shows and all these things that have house unbridled is unbridled. There's never been so these millennials that are essentially getting licensed. They'd never been alive or at least paying attention. When real estate hasn't been the willie walking a golden ticket rights for the most part only been in existence while they celebrated right it's been celebrated realize eight gone from essentially a weird industry. That why would you wanna do that to something. Everyone wants to be part of. And i'll tell you the other thing that's really changed because this was always true but now it's even more true and i'm not really sure all the moving parts as to why this is true so owning a home has always been part and parcel of the american dream but now it seems like post cova owning a home is something. That's kind of risen to a completely different level. Yes absolutely i was reading one of the Like real simple. My women's magazines was talking about the the way people feel about. Their homes is completely different now. And how much more appreciation and understanding people even have of their house is different than like when you went to whatever job five and you know you kind of visited your house in between your work And so it's almost like its own personal island to you. Rob johnson who coached for awhile number one agent the problem with the number one agents in the world hundred and thirty million last year. Something like that. He actually said it best. He told me that his market grand connecticut. Which has been. I think one of the toughest buyers markets in the country until covid right. Now it's one of the hottest sellers markets in the country. Which is incredible. I mean this is happening the country but he said the biggest difference was before people were just using their homes stopovers in their day. Right never got to know the raining a lot about this too right. Isn't that fascinating so people. He said now what he's saying. A lot of people are looking for very. I mean we can talk about the zoom room and all the rest of it but it's more than that people are looking relate to bond with their home like they've never done before at least not in our adult lives. I know which is awesome very much feeling the market right and then you have this huge Essentially again we're gonna say it as it is from the perspective of being real estate coaches the low interest rates which obviously are fueling a lot of demand but also in the inflation. That's going to be kicking. In as a result of whole bunch of other economic things is going to cause a ton of fomo fear of missing out because house prices are going to increase at a rate. Never seen before. And that's not gonna it's not just going to be you know like a bubble. It's not just going to go up for six months and go down. There is going to be no deflationary curve. It's going to complete. i mean after. Kobe hit everyone is expecting deflation and really there was deflation for like maybe map more like sixty days and then thinks kick back in inflation. Essentially appreciation really started rearing. Its ugly head if you want to call it that and virtually everything and now we. Julian are listening to a podcast. Yesterday soybean prices are going up in value other things that are really you know. Route commodities are starting to value are starting to inflate and cost. This is inflation. We talked about this. And then they'll podcasts. Google it but we're going to experience over the next three to five. Years is the increase increase in the cost of all assets. So again that's going to make it. So people are going to buy homes and then six months later. The houses are going to be worth a lot more so the massive amount. There's going to be huge amount of thommo. And that's going to trigger more people to get into the real estate market more people to want to buy and sell and prices going up more. Builders guys listening is that you are commission based on your income is going to go up with it and we didn't even mentioned demographics which because we don't want this show to run for hours all right all right so next point and i'm going to modify pointing we're fourteen weight number. Fourteen is there is going to be an enormous bounce back in the economy Post covid and by enormous. I mean something it's going to arise to in terms of the unemployment rate's going to drop people's desire to Frankly spend money the we remember. I don't know. I say we hoping some of you guys remember as well. What was it called jelly after the people that after the housing crash or galaxy doughty fatigue. Right i mean that was a little fun saying after the housing crash never was living through a recession and people are like eventually. They're like well. I got to downsize and whatever whatever it stop. Spending money and people are talking about not going to starbucks anymore. Getting haircut people stop. Yeah remember all that some of you do so the then what happens eventually. It wasn't that long people said the hell with that and then things came right for most people who it was but it was kind of funny though. And that was the start of really. What was the boom in the housing market in about two thousand nine two thousand ten especially with real estate people they start pulling back in a late fourth quarter two thousand and seven and then they basically as gins consumers followed suit and probably two thousand eight two thousand nine and then it came back and did it ever come back and the same thing's going to happen now. That's going to happen now. Like by ten acts just simply because it's affected the entire global economy. Everybody is going to essentially wonder frankly start traveling again. They're going to start enjoying life again. You're going to see a lot of people who've been delaying the purchase of things. We talked about real estate. Because that's what we do. You're going to see people. Buying second and third homes at. We used murphy as an example north carolina where we have this cabin and i was just searching on the mls this morning just to see what new listings were. There alive not a lot of new lessons and they were pretty much all sold. And that's what we're all going to be experiencing across the country. We say every single day on this podcast but it should be very clear if you ever wanted to know what it feels like to be in the right place at the right time if ever envious of somebody because they seem to catch all the brakes and maybe you felt like if you had had those same chances invent the same place they were when they didn't know okay you are. This is what it feels like. You have a real estate license. Pat thank the past version of you for being smart enough to get a real estate license. You're alive you're listening to this podcast. Now it's incredibly important. You take action on the things that were sharing with you because your best days in your personal life and your business are still ahead of you. It's incredibly important that you make the right decisions. Now look is january six. You think. Well i've got a whole year ahead of me. You do but why waste time while you're thinking about it absolutely text twenty twenty one eight five five six eight five ten forty five text twenty twenty one eight five five six eight five ten forty by right. Mrs harris point number fifteen. I think i had won. The one i just did was an ad. Oh okay okay. So the covert lockdowns have taught us much like kids can be homeschooled and why the heck is school so expensive. Major colleges and universities are forced to lower prices. What other ways have consumer expectations been forever changed pretty much in every way your your job is to meet the consumer where they are not where they were so. I think there's a lot wrapped up in that point. Some of this is being willing to change and take what the market's willing to give you be responsive to all of these changes and meet people where they are. You know it's a whole different world. I think twenty twenty one is largely going to be seeing what the real results are in two thousand twenty twenty twenty like dealing with it twenty. Twenty one is like all right now. what what. What is the real result unintended or intended of all these changes that we've made so our parting suggestion. Dare i say advice to all of you as make sure you're thinking is not mired in the past because that is what's going to slow you down. Listen to the previous four this four so the previous three podcasts on our twenty twenty one predictions and hopefully you'll come away from having listened to those shows being energetic and being enthusiastic and now ready to get into action because that was our intention we are one hundred percent confident that this could be your best run of your personal and business slice life ever. So they'll take action. Stop holding yourself back star. Stop worrying about the other shoe to fall. Stop worrying about another black swan to land in your pond. All those things will happen. But you are resilient you've after twenty twenty five proven that you can get through a flock of black swans. I mean if you go down the litany and west of mickey mouse and we all dealt with last yes we're stealing still dealing with trailing you know things from that but the future is where you have to have your dominant thoughts so as you're thinking about what you want to accomplish this year and if you've not yet finished your business plan forgive me if i remind you tax. Twenty twenty one to eight five five six eight five ten forty five and we did. Do i think when we do it last week. Or the prior to the holiday. We did a series of podcasts. On how to complete the real estate treasure map so go back and listen to all those in trading up to christmas and take massive action. I align yourself with people who are thinking towards the future. Do avoid politics avoid anything. That's going to slow you down. Avoid anything it makes you feel adversarial towards other people. Avoid anything that takes away from your natural desire to feel optimistic. Avoid anything that basically is gonna keep you mired in the past because the future is obviously coming faster than it ever has before there'll be more changes happening over the next one to two years. I condensed version of what would have taken probably ten to fifteen years. Look at all to the last point. Point number fifteen. Look at all the things that change look at all the ways that you know the consumer expectations for how they want to interact with you. How they how you interact with schools. How you interact with retailers restaurants. Everyone everything has changed. And we're just getting started. Because as we said i think point number one point it was four something the simple fact that we have all this massive technological change. That is happening now. We talked about the change in processing speeds. We talked about essentially things like apple. Glass we talked about all these different forms of technology. There are going to be fully integrated into our lives. That's where you need to have your mindset but you need to back it up with otherwise you might have all the way some grass technology but no one's going to do business with you because you haven't given them reason to do business with you. That comes from. The skill set not comes from what we do in our coaching company. Anything you like say these guys make hay. While the sun shines. I really them reminded of this. Almost feels like when we've studied the industrial revolution. And all the people that made so much money like building the railroads and the ability companies and all of the infrastructure. It almost feels like this is going to be the technological version of that. Let's let's give an example the gresh fortunes and humanity not just america have always been made during the times of change. And you actually bring up a really good. In talking point i think. So if you look at glen stanford he is the founder and the ceo and obviously the brainchild of xp royalty so in two thousand and seven two thousand eight grant glenn was and he says this himself and not speaking at a church here. He was basically flat broke and now listeners. The guy has a net worth more than a billion and a half dollars. Think about that so this guy in less than ten well basically ten well over ten years. He has made himself into a billionaire. Now what did he do that. All of us need to learn from. He embraced the idea of a virtual Embrace the fact that consumer demand would change now did covert actually enhance basically. Xp realty and make it even more relevant change consumer's expectations but more importantly make agents and brokers realize the legacy expenses that they've had in rationalized as being necessary bricks and mortar location. Being the office obvious. One look how everyone's opinion is change. So what do you think that. And that's globally not just in the united states. So what do you think. That's going to do x. p. royalty what do you think it's incredible so that's a for example so glenn is going to be one of the beneficiaries of essentially the technological changes. He was already essentially leveraging. But now post covid. I'm magin what your involvement in the xp realty would mean to you and yes jillian iron involved with the xp realty and yes jillian. I would love to personally sponsor you at xp royalty and you can be personally sponsored by tim and julie harris. All you've got us. Text me at five one. Two seven five eight zero two zero six text me directly at five one two seven five eight zero two zero six and the meantime guys please be incredibly optimistic because your best days are ahead of you if you let them be. Have a fantastic day. We'll talk to you on the show tomorrow. This program has been a presentation by tim. And julie harris real estate. Coaching for more information on the real estate coaching and training programs visit our website at tim and julie harris dot com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to real estate. Coaching radio with tim and julie harris.

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Podcast: Top 8 Must Avoid Reasons Why Most Teams (and Brokerages) Fail | Tim and Julie Harris

Real Estate Coaching Radio

31:38 min | 7 months ago

Podcast: Top 8 Must Avoid Reasons Why Most Teams (and Brokerages) Fail | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Realistic Coaching. Radio. Is The nation's number one daily radio show for realtors who demand authentic real time. Coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Hey Julie were back. It's Monday October twelfth indeed. So we are going to pick up where we left off prior to our. Week Sabbatical. In the lovely mountains of North Carolina, which by the way guys we're still here. So it's Monday. We're still in the lovely mountains North Carolina but we've got a great normal podcasts scheduled for all of you. But thank you for giving us the week off at some of you were sending US messages worrying that somehow we'd been you know what would have gotten us here what am about this? Ask The SASQUATCH right? No bigfoot. I think they call it sasquatch out. West. Yeah. Nope no bigfoot but interestingly enough. We did white walk through parts of the Appalachian trail today and some other trail heads and. There are actual signs up and I should post these on you actually have pictures. I don't know these signs look like one of the signs actually had. Of North, Carolina and there what does that sign say read it please it says warning please do not feed the SASQUATCH. In the woods and the other one did call bigfoot. It says bigfoot crossing. So I don't know there's some controversy here as to which is which but what was the first one that we saw that one that basically said caution a big breeding ground oh. I might. Have to go back into my life but. Yes. Anyway. Oh. Yes, learning bigfoot breeding area no camping hiking on risk avoid I contact play dead if cornered, and then the bottom says enjoy keeping your force safe from the US Forest Service. That's the best one. So but here's the thing. Are. These serious. Serious to me. I mean maybe. When we went on our hike during the day who knows what happens dusk? Yeah. Well, we can't make this a silly show because this Monday show these guys got to be focused on work. All right. So we started out a couple of silly just listen to our Sunday shows then you'll get silly show right? Right. So we started out the week before last before we took our trip on talking about the biggest would end up being the biggest reasons most teams will fail. Yes. The Bay eight biggest reasons most teams will fail and we started out by doing this. PODCAST or this topic in particular because frankly a lot of people were confused and we had a couple of people actually say people that we respected try to Pigeonhole US and saying Tim and Julie are anti team and I thought to myself. You've not read our book Harris. Rules that our best selling book. You've not read that book right? What we are anti as non-profitable team. We're anti the people who start the team making no actual net profit. That's what we're anti. So it maybe you guys should just add an extra adjective on their tim and Julie are anti. What would not for profit team? Okay there you go. We are anti running nonprofit team, which by the way, what's the real difference at team and a brokerage? Nowadays, they're essentially the same But if you're not focused on your prophet, if you're not focused on I, think it's rule number three and Harris rules or something somewhere in Europe product is profit. Make sure that you read the book Harris Rules that relates going to set your course straight for why frankly most teams fail and the reason most teams fail. The essence of it is the next point here in a second. But the really underlying reason why is because? People do not put profit I, they put it as something that hopefully, there's a little bit leftover at the end. So just keep that in mind as we're going through these points on another quick reminder for all of you if you guys have not yet joined the free coaching program. We originally planned only keeping the program open during the summer months, but we're GonNa Actually Expand The free coaching program. So if you're interested in joining the free coaching program, just text, the word survival two, three, one, nine, six, text, the word survival, two, three, one, nine, nine, six, and and listen just because it's free doesn't mean it doesn't have any value I look I get it free no value but not in this case. So the coaching program not only includes a whole bunch of content like the real estate treasure map the ninety day massive action plan scripts, objection handlers What else tons of rich for realtors is in their thinking grow rich realtors in isn't there All this free. But you're also entitled to a Free Daily Semi Private coaching call with one of our coaches. This does not cost you anything you can be on these daily Semi Private coaching calls All this stuff is free all you guys use text the word survival two, three, one, nine, nine, six in addition to that, you'll also receive a call from our staff in. You can then have a personal direct conversation with one of our new member coaches. And you then can maybe move forward and join of our normal are normal coaching program suggest clear I. Don't want any of you to think that this is the full fledged full suite of Premier Coaching Program. It's not, but it's still something that all you desperately need to seriously consider joining asap. The last quarter of the year is the most important quarter of. The year because it sets the stage for your phone year. So absolutely positively take action now text the word survival two, three, one, nine, nine, six. So what was the next point Julie yes? Sir, remember we're talking about the biggest reasons most teams will fail number five because the team leader and or you know they're certainly the people on the team don't actually. Know How to do the five thing that's actually should be six things that making money in real estate that create that profit that you've been talking about. So what are those things you know our coaching clients have memorized because these are the things that are supposed to be doing head coach whether they actually do it or not. We have coaching for your pushing. Table. Going head to head coach Julie. Let's give them the sex the six things. Okay. So this is easy to memorize when you do it chronologically, the number one most important thing that every agent has to do is Lee generate yes we could call it prospecting but lead generation got to generate the lead in the first place level off there in the lead generation. You must learn how to do is proactively generation not paid lead generation proactively. Generation is the generation that requires you having the actual honest to God sales skills to have conversations with with decision making adults about ideally listing a property with you. That's what we focus on in our coaching business lead generation and paid lead generation. Frankly those two things are not the. Same though a lot of you guys can flight that you think that paid lead generation is all you really learn how to need to learn how to master, and that is one of the biggest reasons. So many agents are failing right now because they never learned the skill sets to be proactively generators. That's right. So assuming that you have that number one most important. Thing, figured out at Leeds chronologically to the next one, which is furiously fast lead follow up not lead follow up when you wake up at three Am and you think about your, you know three by five card or what you wrote on your hand furiously fastly up. Once you're doing that you must prequalify present negotiate and close lather rinse repeat if it's not on. That list you shouldn't be doing it. So why is this important to recognize in the potential failure of teams? How can you hold somebody responsible or accountable on your team to doing any of these things if you are not already extremely good at it, it's impossible. You can't, and that's what most agents are doing. They're getting into the business there being seduced into believing. Even, before they've learned how to be successful listing agents nor for them to be successful in real estate, they have to join teams they're not stopping themselves and asking before they decide spent to spend money on education and CRM's and all this other Mickey Mouse they're not actually asking themselves what is the motivation behind the person that's trying to in the trying to tell me? This to get me to sell trying to sell me whatever the widget is, they're trying to sell their ally. Their interests are not in alignment with yours, and if you want proof of that, here's all you need to know, and these are some statistical facts which is interesting right. So during the biggest sellers boom, probably of our lifetimes, which by the way is going to. Continue into twenty twenty one. So don't worry about that you're going there has been more agents bailing faster. So during the last say two, two, thousand, seven forward there's been more whizbang shiny objects more do it for me marketing new more CRM's more branding more of all the stuff that it's being sold agents is being the thing they need to do to build their businesses, Blah Blah Blah, and yet the number of agents bailing out of this business, and then how fast failing is at all time highs. So what does that tell you the agents who skipped the step of knowing how to actually proactively generation? Leader Le, let alone all those other. Are. The ones that are most susceptible to being a frankly conned into doing goofy things because they don't know how to discern between what is real and what is imaginary in. This is the this is the nature of how most agents fail they don't no one's interrupting them and saying listen, you do not need to spend that much money on this or that much money on that. You don't not do not need to learn how to. Create. A brand do funnels direct marketing role the stuff you don't need to worry about any of that. You've actually learned six core absolutely must master skill sets of real estate. Yes, absolutely. So next we have related to this point number six, they waste money by rationalizing that they're buying their time back hold that closer 'cause we're in the okay Joe Jillian iron a screened in porch, and there's a thunderstorm going us. Quite romantic. It is. It's lovely joining. So. What are these team leaders do and even brokers? You know they waste money by rationalizing that they're buying their time back right. So I'll I'll just you know create a team I don't really know how to hold them accountable and they don't really know how to convert lead. So I have to buy more leads to get the the creamed. They can maybe possibly convert I'm blowing all this money. Why am I doing that? Because I don't WanNa do it myself anymore? But here's the more the raw or reason like you're buying leads you're buying buyer leads a lot of you. But now some of you by listing leads why because you you know you're running radio ads and you're doing all these other things and look some of these things definitely do work sporadically. But until you've absolutely mastered how to proactively Jenner yourself until you frankly learn how to run a very profitable real estate practice, real estate practices win or you they're run correctly you you should be making easily at fifty percent profit and yet how many agents and brokerages are running profit margins of less than ten percent most brokerages in the country run profit margins of less than three percent. It's a national crime pray that's the politicians should be talking about and so. At the end of day you guys will say, I'm not going to work with you know I'm not going to learn how to do this or I'm not going to do this because my time is more valuable than learning how to, for example, you know fill in the blank and so you are you think there's some kind of it's the word delegation. Right? Are Industry tells you that doing something is less honorable than delegating the doing? Oh, that's good. That's very true. Yeah. In that is that's what's happened in this industry. That's how perverse. It's become you're given more credit and praise for delegating something opposed to actually doing it and that to me makes no sense because in the delegation and who's trying to convince you to do that the people that want to sell you stuff that you can then somehow us as the delegation mechanism. So there are trying to get you to believe that you need to do things are going to result in you making no profit or dramatically reduced profit because somehow miraculously your time is worth more listen, your time is not worth more than it is. In Your Business as far as that goes learning how to. Be An incredible qualifier learning how to proactively generate there is nothing more important in your business that you can be doing not training someone to do the job that is not more important there. Certain things in your business that you never ever delegate just like an every business that is essentially a service business like real estate you doctor you go into a doctor's appointment in whatever happens if you never see the doctor you going back there no, you're not here he's delegated. Some in incredibly important procedure to somebody else because he's too busy he's decided you're not worth his time and we're happens is that doctors GONNA go out of business because he not gonNA very efficient business but also because the essentially all this would have been profits are going to pay the minions who are going to essentially do the service for him. You can run a business that way plenty of real estate agents do, but you will have no prophet you can. You well, you can run a nonprofit real estate business most agents do yeah. Until the Mark Ages. And then you're toast exactly next point. Yes. That's right. All right. So the next point is number seven at some of these teams are focused on the wrong numbers they're focused on units. Versus profit sometimes focused on volume vs profit, but they're focused on the wrong thing but that's something that has been around forever forever you get awards and plaques and recognition for what you get awards and recognition for basically selling a bunch of houses or having sold the most in volume. Nobody gives you an award or recognition for the most frothy. Yeah but then they'd have to know how to make a profit and loss statement which agents will know how to do lack of trust or profit right? Exactly. You can't well, why. So you guys get into this business you're in this business maybe you're in this business for five ten years and what happens is you're all the sudden change, the plaque or you're chasing the recognition from strangers you went public is like where we are right now and Murphy every third billboards and agent billboard or realtors billboard. What are you people thinking I mean why are you doing that that doesn't make any sense you think people are driving around don't write down that number owners hold on let's say Oh there's another right down that phone number Oh there's Bob let's call Bob Oh there's frank let's call COMPETITION FOR WEIRDEST BILLBOARD TWO Well. But why are agents doing that it because they're not focused on profit if you're focused on profit if your filter for decision making was run through a Prophet I, you know essentially mindset there are so many things you wouldn't be doing anymore in virtually all these goofy companies that you guys spend billions of dollars. With every single year would evaporate they'd go out of business instantly if more agents frankly listen to Julian I and hurt us a telephone to make to run profit-driven businesses are competition and I know you guys don't like it when we bad mouth are competition, but it needs to be bad mouth. Nonprofit focused things that are all ego based that are not going to do anything to help you transact. Let alone make a profit they're doing it because they're being paid to do it either directly or indirectly you have to see it for what it is you have to protect your own profit because unfortunately in this business nobody else is going to because most people don't think like that in our whole industry, it's not how much profit did you make bob? It's how many units did you sell what your dollar volume was in? There isn't the profit does not always follow rarely follows more units or more. Or more you know gi it doesn't automatically work that way. You can't just sell. You can't go from selling like we did a study and this wasn't this was a while ago but still relevant right the average team. That grosses a million dollars in commission, which in most of the country's still a great and three but the average team of like was it six people that are grossing a million dollars in commissions six or seven people actually have less net profit than the individual practitioner who basically is selling making about one hundred and fifty grand hundred, thirty five in other words the team. Leader, you know Steve who runs the team or betty who runs the team is making less income herself to herself been the individual practitioner yet she gets all the awards. She gets all the plaque secrets, all the recognition, the individual practitioner Gal who maybe has a part time assistant when she needs when she's busy intersection coordinator exactly you know maybe she's doing contract transaction coordinator. But she doesn't get any plaques trophies. They're not essentially, you know think she's not peacocking around the office virtual or otherwise, but she's making the same if not more net profit than the big top producer is there was a study that came out recently that said the average top producer, the biggest dogs in the industry are flat on their backs. If they don't have if their income is essentially cut off for just sixty days, sixty days, income disruptions, they're out of business because they spent all their money on this ego things who's going to pay for the billboards WHO's GonNa pay for the big team who's GonNa pay the big zillow spend who's GonNa pay for all the Nikki mouse that they're not tracking and yet they do it. Why so they can have more revenue and so they can get more recognition so they can spend it on more stuff that doesn't result in more profit. Do we explain that smell? Yes but which leads to our final point why would somebody do this? Well, oftentimes therefore going their own interests like profitability believing that they will actually be able to sell the team? Yeah. Somebody's GonNa buy me out one day. Never in the history has had said, no, I said no purchaser ever rate. Yeah. Yeah. It doesn't happen. You've interviewed I mean there's maybe one or two people in the country that even are qualified to do those types of business transactions and I mean, can you even name on one hand? The that you know big team sales people don't even say anymore I think yeah. Yeah. It used to be when Julian are selling real estate in the ninety s you'd have all these people that rationalizing running nonprofit real estate practices than essence because in the back their minds they thought well, I. Have Marketshare I'm you know the big dog in my community or my city or my town I'm selling a billion houses neither billion people working for me and my team in somebody's GonNa Knock on my door one day and right me a big check and I'm going to be floating my boat sometime someplace down the Caribbean it never happened and never will happen people have tried though. That was how the lie was sold. Right? I'm not saying it's not because we say it's never going to happen it's been tried and it does not happen right now there are iterations you could sell your business for referral fees. You could shop some and take over Your Business and you have trailing revenue again, referral fees there's different things you can do for that, but it's too complicated to it's never going to happen it happened so infrequently that I. Can you guys give me an example when it's happened I mean where it's actually happened not what you heard or someone told you. But were you actually solve the check because it never happens? That's why real estate. Teams are not worth anything. Now, with that said. The key for you to become rich selling real estate is to remember what I'm about to tell you, which in our book Harris Rules I don't remember which rolled is but selling real estate doesn't make you rich. What makes you rich is investing the profit from your real estate business. I'm going to say that again, selling real estate won't make you rich. It's what you do at the profit from selling real estate that will make you rich. You guys understand the word Prophet is so critical, right so if you're not making profit in your role state business, you're not going to have enough money. To invest to in order to create actual wealth which means for your entire life, you're gonna be doing nothing other than real estate transactions and you may look you might have all the plaques in the awards but at some point you're gonNA wake up and you're going to realize that you sacrificed years of your life for Ego plaques and awards and recognition from strangers and you sacrifice what could have been a huge amount of profit that would have changed the trajectory not just for your life with the life of everyone that you know love and care about so we want you to seriously consider that before you're starting to start a team you need to make it so that the team Operates with the idea and again, this is all eight out in our book but one of the core principles of any successful real estate team are there no roe there no writers there's only rowers. So everybody that's in your team is actually you run a profit and loss statement on every single and I mean, even the transaction coordinator and I'll tell you how your transaction coordinators and expense right I want that transaction coordinator be doing assuming you can doing BPO's at Cua. Enough to cover her salary his salary every single month you need to be doing profit and loss statements on every single person that works for you. You need to not just assume like, for example, I've done this countless times. And I have with maybe one exception. Have I ever seen anybody that has a big buyer agent staff that the buyers eight where they're making any profit whatsoever on the buyer agent transactions. But what they're doing is they're subsidising the buyer agent side of the business with the commission that that's coming from listing side of the business that would have otherwise been their profit in other words like say Bob Sells two, hundred houses a year let's say hundred or listings one hundred or buyer sides, and let's say the biocides are handled by six buyer's agents or four. It doesn't matter pick your number Baba's buying buying leads. ME. Doing all Mickey Mouse CRM and providing, provided, doing all these fancy all this, he spending all this money to support these buyer agents, and of course, the buyer agents bigger commission these having to pay commission splits and whatever whatever all the expenses associated with it when you actually do a profit and loss statement on the buyer agent group on a whole and. Then an individual profit and loss statement on each aged what you're going to find his maybe some of them are profitable. But for the most part you're making no money on. Any does `buyers agents, and what's more is you're taking the money on the listing side of the business that should have been the basically all going to your bottom line and you are. Moving the profit from that side of the business over the buyer side of business because the buyer side of the businesses. So inefficient, your buyer agents complained that the buyer agent that leads sucks. So what do you do you spend more money up? There's not enough profit coming in off the buyer side of the business, you take it from the listing side. Of the business, thus you run your prophets down and you're making no money. You guys get it, and why are you doing it for the sake of having numbers to brag about because you want to go to some real estate convention and you want somebody to ask you how many houses you sold and you want them to be impressed who cares okay became. Profitable whatever's is. Is that the reason you got in the business or was your motivation your intention in this business completely co-opt when you got the business because you start believing somebody else's vision of what you should become and did you ever stop to ask yourself why that person had this big dream like why? That they pulled you out of their office day and said, you know Julie it's now time for you to start building a team. Okay. Why is it that they did that? What was their motivation? We've talked about this. You know countless times on the PODCASTS. Here's what you should say no, I'M A. Profit. Driven a real estate professional building a team because I've listened to him and Julie and I've read their book I. Know It's not GonNa. Get me there. I know you're just telling me to do this because what you really probably want me to do for the most part is you don't want him to get time back and have more balance in my life. What you want me to do is you want me to go out there and start recruiting agents can add agents to your brokerage, and that is in essence the reason that so many teams and so many you know good meaning. Agents that could've otherwise ran very profitable become very wealthy. Their potentialities was sucked out because they followed the one, the wrong path, and as we progress into this new world where there's going to be new rules with regards to how rotate brokerages are being run and I strongly encourage you to talk with Juliana about joining our XP group Text Me Text Just text me directly at five, one, two, seven, five, eight, two, six. So we can talk about that as we move forward the lack of profitability is great even in the best of times is going to absolutely kill countless small medium-sized brokers and teams going to wipe them out and it's going to wipe them out so fast it's GonNa make your head Spin you have ninety days left this year. This is the start of the New Year what you do. Now it's going to pay you into first quarter I strongly encourage you to stop. Believing what may have worked sort of in the past market as a work now in this new market, because it's not definitely take a hard look at why essentially so many teams failed. Most of them fail most people that join teams fail with an eighteen months most teams are constantly hiring, bierring, hiring firing they don't work. So go back to actually why you got into this business originally and start thinking about Prophet being your product. Yes, and so this is mentioned not just in the Harris rules book, but also in the real estate treasure map. because. Here's what we've discovered and you and I lived this. It's again not just because we say. So what because we know? So when you ask an agent, what is your goal this year they always pull a number out of you know fifty deals or one hundred deals or one hundred thousand or a million dollars right? Not really what they did last year they add whatever they think should be added for you to say, wow, that's great or they saw you get an award last quarter and they figure they're. Better. than us. Tonight you know whatever you did I gotTa do better, right okay. So it's not based on any real financial. There's not based on profit and loss is not based on goal setting. It's not based on their actual financial picture. So in the Harris Rules Book and the Treasure Map, we force you guys to have your own personalized business plan based on your actual reality now. We have coaching clients whose total monthly overhead is about eight hundred bucks. How can that be now on both ends of the spectrum? In an example, we have an agent in Virginia beach who has retired has everything paid off has a very low monthly overhead has money in the bank has investments throwing money off has rental properties. Okay. So that's on the advanced end of the spectrum. We also have younger agents who maybe are still living with mom and dad, or they're paying a low rent payment and we have agents who have overhead personal overhead of hundred grand a month, one, hundred, grand a month and everywhere in between. So it is wrong of you to pull some goal out of the air that isn't maybe appropriate to you. Right. So what we do in our is we say, all right. So let's look at your actual. Financial needs. Okay. The first thing is, what do you have to make per month maybe minus maybe you've got spouses got some income what what are you? You have to make per month to keep the lights on this is your bare minimum standard. So there's food on the table gas in your car your insurance is paid, etc. Then we do goal. Setting in five areas of life what would it take for you? Personally to move your needle? It's going to be different for everyone. You know if you live in Iowa and you've got a pretty low average sale price but you also have low monthly overhead. It's GonNa. Look totally different than somebody living in Manhattan paying for you know four private school educations. Very expensive schools, right. So we you to do it for you and you know what people always find out. It's not that they have to build this massive teams so they can do two hundred deals. Because they think too hundreds or magic their, you know their unit numbers Ego thirty eight deals or it's twenty two deals it's always less. It's never more than they think very, very rarely. Is it more than they think? Okay. Maybe if they have a lot of debt or some some surprise bill which we also help them to figure out but my point is that it's based on something real for you personally and yes. In the Harris Rules Book, you know we do go into talking about different types of teams. But it's all based on profitability. We talk about not just the profitability, but the lifestyle of a single agent of partnership well, chapters that skirts about seventy five percent in. So whatever they don't get to think about that until they do the five things that make money. So in the Harris Rules Book do specifically tell you how to build essentially support staff around you and we tell you the order in which to do it and we give you filters or rules to apply sort of you know. Essentially wear. Wind. Like adding your first assistant. That's we get that question constantly, and the answer is frankly a lot of times. You don't need an assistant full time and there's so many great transaction coordinators out there just do that and push that envelope as far as you can and not an employee either some of these guys make those hiring mistakes because they're slammed today right and then you know they, they made something that's going to trail them just you know independent contractors. That's right. Anyway. So guys look get the book at the book, right so I l Barnes and noble for sale where we can talk forever about this but let's be very clear. We are absolutely pro support staff, but we want you to do it around the idea of having profit not just for the sake of braggadocious numbers, right? That's the difference. So all you guys out there that are trying to pigeonhole. July as being some sort of know team Luddite I say word right. Luddite yes. No we are not that of course, we believe in having support staff, but you have to build it around profit don't just add staff just so you can get hired numbers so you can get more plaques because at the end of the day, you're not buying back your time with your essentially doing is you're allowing your ego to replace what could have been your financial future be very, very careful with that. So listen, you can go back and listen to the first two parts we did on this. It's available on burn, Barnes and noble it's available at Itunes stitcher audible every. Place, you can possibly imagine I want to sincerely thank all of you for continued to make this number and listened to daily podcast rotate agents in the nation where now listen to and fifty four different countries and we've set our goals now to be the number one daily listen to laughing when I say it because it's such a huge goal but number daily listen to podcasts for every real estate professional in the world. Thank you for your loyal listening listenership and I Apologize Russ now having a live show every day next last week but Jillian I have we took a week off. We were returning tomorrow actually and we had a wonderful experience here in. APPALACHIA on. Walking in the woods essences what we did. Yes. We did that for twenty nine wedding anniversary. So for those of you guys who were wondering why we were doing live shows last week that's why. But again, thank you for being such listeners. Thank you for listening to us every day. Thank you for allowing us to have at least have some level of hopefully, very positive influence on your lives. You guys are in the right time right place at the right time in the right industry. That's not just something. We're saying real estate in all of our almost thirty years in this business. been a better time to be enrolled state because of all the changes, it's incredibly exciting. So be grateful you are in the right place at the right time in the meantime if you guys need is for anything if you WANNA talk to me about join is e XP group just tax me directly at five, one, two, seven, five, eight, zero, two, zero, six, five, one, two, seven, five, eight, Oh two Oh, sex in meantime if you've not join the Free Coaching Program text the word survival two, three, one, nine, nine, six. Thanks making a fantastic day. This program has been a presentation by Tim League Aris Real, Estate Coaching for more information on the real estate coaching and training programs visit our website at Tim, and Julie Heiress Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for Listening Joe Real Estate Coaching Radio with Tim and Julie Harris.

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Podcast: The Real Reasons So Few Accomplish Their Goals | Tim and Julie Harris

Real Estate Coaching Radio

28:42 min | 3 months ago

Podcast: The Real Reasons So Few Accomplish Their Goals | Tim and Julie Harris

"Welcome to real estate. Coaching radio starring award-winning real estate coaches and number one international bestselling authors. Tim and julie harris real estate coaching radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching get ready for flood. Free unfiltered full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market or hosts tim and julie hairs three to one and we're back at his january. The twenty second julie welcome. Today's podcast happy friday. That's a new stuff for you guys we do. And so we've been working intensely for really. I'd say the last four or five months. You know well until last year getting these guys prepared for this year. Pleading bagging threatening. Yes as you're mapping them. Treasure mapping them. Get your treasure map done. And now we're going to move. We're going to assume we're going to act as if you guys have already completed your state treasure maps and now we're going to move past the writing of the goals as a recurring theme on the podcast to the actual accomplishment of the goals. Yeh but for those of you yet to euro state treasure maps tax twenty twenty one to eight five five six eight five ten forty five all you gotta do and you just do that now right now on your mobile phone ninety five percent of you're listening to us right now on your mobile phones. Just text twenty twenty one date by five six eight five ten forty five. And when you do we're gonna text you back. A link and within that link is going to be a one of. I think six different books that you can download the real estate. Treasure map is is our fill in the blank business plan and that is going to be the you want to print out immediately. How many pages it julie. One hundred and forty something. The treasure map is well remember. There's the discussion that ramps up. We talk about the stages of mastery. Yeah well that's like a whole reema paper buck so so hit double side when you're printing. There's there's an advanced suggestion. Yes so do do that immediately. And that book is available for sale. But why don't you just download it for free. Text eight five five six eight five ten forty five on an also speaking of books. Thank you for continuing. We don't really pay attention to sales statistics on the book. Believe it or not. And i'm holding in my hand. Thank you for your neck. Harris rules the bestseller that it has become and continues to be available at barnes and noble. Really any place that sells a book. It's usually back in the real estate investment section. There's really not a lot of books out there that are very similar to ours. I suppose some of garry keller's books are go back to the bookstore. The book harris rules. If you're wondering oh my gosh. I'm new and real estate or oh my gosh. I went to basically take my business to the next level. What's my plan. That's the book the real estate treasure map comments personally. Because what you're doing is you're filling in the blanks. Essentially what your specific personal plan is in the real estate treasure map sort of you know well not sort of does give you your exact. Gps to accomplish your goals and s o good obviously get on amazon and one last announcement we're going to get to. Mrs harris is first point. I don't know why. Taken calling you. Mrs harris that i have not yet had the big birthday so you just keep that to yourself. Thirty for the. What would it be. Twentieth titus twenty time. That's coming up soon. Dont'a say well we do have. We're gonna tell them what the julie's siege elise facial expressions right now. As i reminded her that she's thirty for the twentieth time in a couple of months. You do not look thirty thirty for the twentieth. Time at all not even remotely by. You look absolutely gorgeous so books julie has taken on. This is julie. mostly that does. The books delays taken on the writing assignment producing two books before the end of june. So if you guys want to know if we're thinking big we set goals absolutely we do in. The first book is actually going to be a journal. We mentioned this last year a planner. Sorry yeah so it's a well you describe it well. I mean the difference between a journal and a planner journalist. Where you write your thoughts you brainstorm. You know all that kind of personal introspection which is great but planner is a business plan to keep you on track. You can track your goals. You can track your contacts. Your daily schedule will be in there. there's a page for tracking your magic number. But it's it's like a daily thing holds mccarron cleaner. Yes and one thing one day compounds into the compound the other and i i was. You're going through different templates and trying to decide on basically what sort of there's so many planters out there right and a lot of them are really ridiculously complicated. Yeah this won't be a massively analytical. I know what you mean. you know. Planner shouldn't be intimidating us to be your co-pilot and this is something that they're supposed to be filling out like it's a book everyday right so it's an old school planner we don't we've tried personally the digital planners and i just don't know why they don't work for they don't well fussy it's like it's like serve learning one of these real estate. Crm's to remember to go to it to log into it. You know a planner. Ideally if it's working for you you you have it all the time you wanna do you want to do. Right keeps you on track. It keeps you on track but also not completing every day makes you sort of like almost feel guilty for not having done it because you want to look to see you. Don't you wanna be proud of yourself by writing down whatever your successes were and also you want to remind yourself what you should have done by looking to see what you pledge dude. You didn't get done. So there's two sides of that coin so that's the first one and the second book that she's going to rate not one's going when you think i won the planner will be done. I think maybe a month or less. Yeah the planners pretty easy compared to the second book and the second book is actually. We're we're probably gonna do this together. Is we're going to revise the real estate treasure map and not really changed much of the content. we're going to change the format. We're going to probably put a lot more stories than a lot. More sort of you know stories from you guys in your own experiences following through on the treasure map Things like that. We're going to probab- well we're definitely put in more graphs we're gonna make the whole layout at a higher level all that good stuff and that's going to come in the second quarter of two thousand and twenty one so all those things are coming to a bookstore near you. These all going to be available at least on amazon but probably a bunch of other book resellers as well so good stuff. Yeah absolutely and. I think i'd like to do if you don't mind. Shout for them to send in to me. email juliet. Julius dot com just a quick little story about something us from listening to the podcast. Or maybe your promotion plan so that i can maybe put that in the book. So i'll give you a quick story That floated through my email yesterday from a client named neil and he's been with us for a long time but he said he had a question about something going on in a deal and he said by the way i have to thank you because the reason i have this opportunity and this was like over one hundred thousand dollars worth commission opportunities like three houses and one commercial thing i believe. He said the reason. I got that was as a referral that came out of an open house. Where the listing. I had because i followed your expired system. That's awesome so you know it wasn't just the expired but the open house business. He got now this like a year later or something. That's huge opportunity for him. So i hope to use with permission. That story in the book. Yes so you can email whatever you'd like to julie and which you might use it. The book. email to juliet. Tim and julie harris dot com but you can also messages on instagram or facebook. You can however you want to get the information to get it to us and we will find it all right. Julie has prepared a really cool podcast topic. No big surprise there. And so julie. If you'd like to pick up from there so we started so you think is calling you. Mrs harris thirty so the twentieth time. True i will stuck. Would you like what would you like to call a youthful version of that. Julie's okay yeah. Julia jules people tease me about you. Calling me on the okay. that's we'll do. We'll move away from mrs house. Paris kitchen you might. It might be a subconscious acceptance of the fact that you're going to be twenty keeping it right okay. Got itself back to topic. But the top of this podcast. We were talking about how for you know two or three months. Really the last of Last quarter of twenty twenty and then a little bit when we started the year. We're getting you guys. Who do the treasure map that is sliding out your business plan so hopefully now a new listener. Okay order it and get going but the rest of you. We should be getting out of the getting ready to get started to someday. Launched into my goal. So how serious are you about your goals. Are you a goal setter or a goal achiever so there is a writer and historian named will durant. I like We are what we repeatedly do. Excellence then is not an act but a habit now when she goes to think about that. What are your habits. Currently now in the book called great by choice the author shares the true story of two explorers aronson and scott. Each of them lead separate teams on an expedition race to the south pole. In thousand nine eleven. The journey there and back was about fourteen hundred miles guy so both teams would travel the same distance through really harsh weather. Each team took a totally different approach to their journey. Scott strategy was to walk as far as possible on the good weather days and then rest up on the bad days to conserve energy. Sound familiar working when you feel like working or when conditions are right. Conversely amazon's team stuck to a strict regimen of consistent progress walking twenty miles a day no matter what who won amonst team consistent action doing what they didn't want to do when they didn't want to do it even on the hottest days julie. That was good. Thought you'd like that. That must be something. You're writing for the new book. It is very good okay so now that your job is to execute your goals. How are you doing so far. Does your daily schedule actually reflect. Your goals don't mistake the statement of your goals as the same thing as execute your goals. If your goals are truly smart goals you should be already on the path to achieving them. What is smart stanford specific measurable attainable relevant and timely or time dependent. Do you have short term. Goals backed by disciplined daily action. So here's another thing that. I think that you'll appreciate them. The aviation industry has a guideline or a rule. It's called the sixty to one rule that rule states that if you're one degree off your designated course you'll miss your target landing spot by ninety two feet for every mile you fly. In other words one mile off for every sixty miles traveled. So you think. I'd appreciate that quote. Why because i used to fly f sixteen. Because here's is a client. That's the twenty to go. You're talking about legrand legrand listener. Actually julie or so agree on julius basically through that quote out and legrand actually used to fly f eighteen which of the one cedar versions of the f. sixteens he was an f. Eighteen hornet pilot. so they're gonna grandchildren's thinking if we feel free to correct me. If i screwed that up but i i think it's right and yes name is really legrand and the one of the top realtors charleston south carolina. So if you have any referrals down that way mixture you look him up. I assure you those only one legrand realtor so you can just hit the google button and find his information there. You go so. I think the point of the sixty to one role is that you think being off by one degree isn't a big deal but if you're flying a plane for every of one degree off your landing spot you're missing by ninety two feet. I don't know about you. But that's enough of the runway to note that you don't wanna mess it or one mile off every sixty miles trial traveled. So are you on track ahead or behind on your goals. What are your milestones. So i have a couple of examples and then a little bit of homework for them. Exempt first example. If your magic number of listings remember that's the number of listings that you've got to have active at all times to meet or exceed your monthly goal which they can discover self-discovery when they complete the real estate treasure map by texting. Twenty twenty one date by five six eight five ten forty five. That is the ultimate goal of the treasury. By the way is for you to get your real estate business down to one number and that's what we call you rotate your magic number in essence. It's a number of listings. You needed all times. They meet or exceed your personal and financial goals all right so if your magic number of listings needs to be five but you've already gone twenty two days into twenty twenty one with only one listing. What is your next action step. This depends a lot on your skillset if you're new it. Being listing agent perhaps the measurable in specific milestones to take one more by the end of next month. Because you've got to maybe get your pre listing package done and get your presentation skills going but if you're already a great listing agent and you're just being lazy than your goal should be five listings by february fifteenth. Would you agree with those milestones. Yeah definitely so another example. Let's say you need to lose twenty pounds and choose a significant date to attach the goal to remember it has to be timely has to specific so choose a date to attach the goal to like your birthday or wedding you're going to or a vacation then set milestones like five pounds per month until you get there. Let's let's hover there. So julie she. She intentionally like what she said. Five things by february fifteen. I actually felt probably half of our probably fifteen thousand people listening today. A collective gasp of fear. But you saying that. Gets your mind thinking though doesn't it. That's the reason that she set it that way. And they're in. Napoleon's hill talks about this and thinking grow rich. And there's a lot of sort of you know modern wu versions of this. There's something magical that happens when you set your course into action about the achievement of a goal but the first thing you gotta do. Look your number might not be five. Do your real estate treasure map and you'll know what your numbers let's say you're numbers three. So could you everyone listening right now. Could you actually take pick your number. Let's say three listings by february fifteenth. Could you now if your initial reaction is no. Because i don't know how well then you now have a course of action get into action learning. How but don't learn before you earn so actually go out there and all the coaching we suggest you do to go after sellers and be proactively jenner. You don't have to buy lead. You don't have to build bundles. You don't have to basically hopefully hope and pray that you're successful find you. You can actually go out there and get it by. Being a proactively generator. Jelena are advocates. Always had been advocates. Never won't advocate advocate for this. You wanna have. A prospecting are proactively generation based business. That's marketing enhanced. You do it the other way. You're never going to be in control. And by the way when you become really effective at being a proactive prospector. In essence proactively generator. You probably never will find the marketing stuff appealing. Because you'll see right through it as being mostly gimmicks so as far as the achievement of a specific goal by specific deadline. She's just giving you some sub subconscious or subliminal coaching there. You don't want to set yourself on a course to accomplish a goal that you can accomplish in thirty days and say sixty ninety or six months or little in the whole year you by putting the pressure on yourself to accomplish that specific goal by that specific date and select. Say for example. You thought you're gonna lose fifteen pounds by the end of june. Well you give yourself that long. How long are you going to actually take to take that goal seriously. You're probably not going to get started until may isn't that true. That's the most of you're going to do so whatever you think a realistic timeframe to accomplish a goal cut by half in. Look if you missed the target who cares at the end of the day. You're still going to be a lot further than if you've done it. The old fashioned way of giving yourself too much time to get ready to get started and then procrastinate the goal and to basically nothingness. Yes this is an excellent point because when you have all that time stretching out. It's so easy to procrastinate. Because you figure you you can do it next month or you can do it next quarter and by the way. This is also one of the reasons why the planner is going to come in quarterly planners so that you can concentrate on short chunks of time and get into action faster. Well just thinking like we are helping on zoom today. We helped office of agents fell out there. You applications today the loans. They're taking those applications. Now we've done podcasts about this. We've given you instructions about this. It's good at tim. And julie harris dot com go to. I tunes go to stitcher. Listen to what we say. Just follow our suggestions. Exactly what to do. The new pc application takes what fifteen twenty minutes depending on. How organized you are. You know maybe half an hour tops. And then it's forgivable loan it starts out his alone and then nick basically can turn into grant if you use. i think. Seventy five percent of the money For payroll and once you do that you essentially can file to have the loan forgiven of which that will make it so you guys get an essence free money thus the name grant. Are you filling this out. And here's here's an if you don't fill it out if you don't do this a asap just like last time you can be assured that the money's all going to be gobbled up and you're not going to get a ppo because you technically. It's they've got until march thirty first. But i can tell you from that. Zoom call many of those people application sites are already locked. You know they like that crash all the time. Obviously people are going after the money. So don't procrastinate. I think is what you're trying. So that's an example right so when you have external accountability. If you don't get the paperwork done in time you're not going to get the free money basically. Well then you're going to be more motivated but when you set this goal that you may have days made maybe a week to get this done and then there's gonna be some announcement the money's gonna be gone that's will happen so the reality of it is. That's going to motivate you because you can see yourself losing that money right right now is the same thing and you get that same emotion if you decide if with the taking of the three listings in thirty days. No not necessarily until you actually decide to allow yourself to feel the stress of accomplishing the goal. And when you do like when. I saying you're gonna get free money for failing the ppp loan application. Do you know how your brain immediately went to use sitting in front of computer you answering questions on a form. You getting the work done. Well if i say. Take three listening to the next thirty days. A lot of you just basically hit a blank. You don't know what to do. That's recent you hire a coach so speaking of which here's your homework create and most importantly follow your daily business schedule which reflects your goals set specific milestones in your calendar consider adding some accountability. You can have a race to your magic number contest with somebody of our. Coaching clients are doing this or get a personal trainer to achieve your fitness goals so up your accountability chop your timeframe in half. Make it measurable and specific. Get it written down so again getting you started on. This of course is the treasure map. Some of you have already filled it out. All you have to do is execute. So if you don't have it Just text twenty twenty one to eight five five six eight five ten forty five no excuses so i wanna around the bend here with a quote from william vaccari. He said successful. People aren't born that way the they become successful by establishing the habit of doing things unsuccessful. People don't like to do that's for sure. I'm gonna have to thoughts. I know you have to go. Joey but let me. I'm gonna talk to you about one other thing and this is a recurring theme. I have been picking up a lot on lately. And i don't know quite why people think this way so i just wanted to talk to you about it. Okay so there seems to be in sort of a. I don't know zeitgeist of entrepreneurs in particular. And i'll tell you where i picked. This up is attending those were they called clubhouse thank you. I'm listening to the clubhouse things and when you listen to these people doing their little mini presentations every single time. They see it. Almost seems a requirement that they've epoch huge colossal failures. It's all i don't get it. It's almost like they're so they're six. What would be called signaling. Or somehow telling the world that i know my success that i'm experiencing now came after lots and lots of failure in pain almost like you can't s guilt right. That's what it is. That's that's i don't know if people are acknowledging the here's the problem if you listen you consume a lot of information like that where you're thinking. Well you know bob. He had fifteen divorces and seventeen heart attacks and you know his dog chewed office leg and then finally he you know he hits a home run. He's successful then. You might be thinking that you have to go through the gates of hell to get to where you to be too. And i'm here to tell you that's not true and what that is mostly. It's what we just said. Its success skill or people not wanting to basically be awesome for being rich. You gotta see it for what it is. It's ridiculous and there's an interesting quote from warren buffett society humans really but mostly americans love to celebrate the guy or gal that built it up and had all the success and then lost it all and then built it up again in other words they love to celebrate the comeback story and warren buffett says i don't i appreciate that and whatnot but the reality of it is is. I like to celebrate the entrepreneur. The the business never lost it all and kept building it and that goes a again that goes against the way that people think that the path towards success is supposed to be. They don't realize that when you you can't have ever increasing levels of success in all areas of your life. You don't have to have setbacks you don't have to have failures you. You just simply have to drill down and it goes back to your quote delay about story. You're talking about about the two. It's the consistency. It's the doing what you don't wanna do and you don't want to do it at the highest level and guys on the other side of that is everything you want now. What you're doing you know doing what you don't want to do and you don't want to do it but whatever it is that you're doing isn't actually the thing that's going to get you to your goal. That's where you have to be discerning about who you listen to. In the information you consume going back to the point. I'm making if you're listening or reading all these books about people losing it. All before they actually able to achieve success in a personal success it could be physical success. Financial success you are subconsciously going to model that behavior especially if you see that as a continuous theme you're going to think that you have to crash and burn maybe once twice ten times before you personally can be successful and i'm here to tell you that is not true your thoughts on that l. It's absolutely not a requirement. And i think that you are wise to point out that even if you don't think it's getting into your subconscious it is if that's something you're getting to be a little addicted to and you might not even doing it on purpose because you picked it up on clubhouse right and you aren't going to clubhouse to do that but they came out on what you're listening everyone but there wasn't a single person that was presenting. It's almost you remember high school when everyone had a story. Well exactly they do that now to do that now. Where maybe it's an attention getting thing. It's i don't know they're trying to make themselves relatable. Yeah mine are now. I think about it. I think it's interesting though. We'll think about it now. I'm curious what you think. I mean i. I don't want to sound crass. Like i don't care about somebody's recovery story. Or what have you have you. will that recovery. it's another. it's a. John rose word so move away from the word recovery or pulling out of whatever it was it affected them right so i don't want to take anything away from that. I appreciate that in. Some of those stories are pretty incredible. But on the flip side to it is you. Can't you know think that that has to happen. In order like this comes out with musicians a lot that you that a lot of especially the classical composers had all these issues you know that you have to suffer so their art and if you haven't suffered than your don't really deserve it or at your product isn't going to be as good because you haven't been through the fascinating. I'm glad you brought this up. So you're you're right. I know you're right. It's the suffering artists up lost seats. It's like the fragile genius suffering artists. You know going through it and all of that that that it would be easy to believe if you didn't have that that you either don't deserve it or it's not as good somehow and i don't think that that's true. I think everybody has their own experience. And i think that the thing that overrides all of that whether whether you became successful through overcoming something or not the one thing that gets everyone there is having good habits. And that's why. I made this podcast. It's not. There's something that i said in there about. Don't mistake setting the goal as being good enough right. Thinking about your goal isn't gonna get you there. You have to take the action to get yourself there on a very consistent basis right so whether you know maybe you're you're getting over an illness or or whatever okay habits will get you out of it. Whether you don't have any will always me story. Habits will get you there in both cases. It's going to get you there faster than getting ready to get started or you know trying to manufacture what was the book that was like limiting beliefs where you get some success than create some drama that threat drag you down. I can't remember. Whoa that's a. That's a psychological thing to and that all goes back its self-imposed adulation. Kind would it feels like julie. Be careful crazy. We need to clean up Podcasting studios a jungle area all right so listeners. Have a great friday. Have a wonderful weekend. Please continue to listen to the podcast. Do us a favor hop over to it tunes and give us a five star review Don't give us a four star. You know you went ahead five. And when you're over there do subscribe. We'd sincerely appreciate. Thank you for continuing to make this number and listen to daily podcast real estate agents. Do you go back and listen to a lot of you. Guys will tell us that you spend the weekends to catch up on past shows. That's a great idea. I think julian i are. We are really drilled down trying to provide you guys with the best possible content. We can in their limiting that we have frankly of thirty minutes or so a day. And i think we've been hitting out of the park especially based on the feedback. We've been getting off from audio so if you're looking for motive motivation if you're looking education if you're looking for real you know frankly direction your business go back and listen to the Past podcast and deep dive into what it takes to be successful the high level for a long period of time. I want you to really think about the last little thing i brought up with. Julie you really don't do not have to suffer for your art before you're allowed to experience success and i know when you watch ted talks and all these other types of things. They all liked to lead their story of low and it is crazy. You don't again be very careful that if you're listening to that and watching that you're going to start modeling it subconsciously and then you're gonna. Maybe julius point a second ago you're going to manifest failure wasn't necessary in your life so attach yourself to the people and the thoughts and the actions and the beliefs that you were. There are representative of the person that you want to be and then do not let go of that and be again very very selective who you let in your head it remember the little course correction thing. Julia was giving a far as the plane landing. So the fantastic analogy right. No big no surprise. Coming from julie's she's a great author. But i want you really think about that. Where are you just one or two degrees off in your thinking and your actions and your behavior. All of us are and a whole bunch of different ways. I mean i just think of about a dozen different ways. I can actually get myself more. Focus more in on target with a runway and sure. All of you guys can as well but the key things in your life like you're always going to be a little off kilter about everything i mean. We're human after all but the key things to not be off kilter with are the things that we ask. You guys seriously get accomplished every single day in your real estate practice and we talked about this in the real estate treasure map so without taking more of your time. Just do yourself a favor in download the real estate treasure map texts twenty twenty one eight five five six eight by ten forty five techs twenty twenty one eight five five six eight five ten forty five and as a reminder for those of you who would like to join the xp julie and i would love to sponsor you you can text me directly at five one two seven five eight zero two zero six and i'll answer all your questions personally about the xp and know we'll move forward if at the right choice for you if it's the right move which by the way it is for one hundred percent of you so don't be surprised if after you text me you find yourself joining julia united. Xp but in the interim have a fantastic day. We'll talk to you on the show. Actually this program has been a presentation by tim. And julie harris real estate coaching for more information on three will state coaching and training programs. Visit our website at tim and julie. Harris dot com. Remember to tune in weekdays at noon for shows until next time. Thank you for listening real estate coaching radio with tim and julie harris.

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Podcast: 4 Step Process, How To Finally End Your Fear Based 'Skeptical' Mindset. | Tim and Julie Harris

Real Estate Coaching Radio

38:54 min | 7 months ago

Podcast: 4 Step Process, How To Finally End Your Fear Based 'Skeptical' Mindset. | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio, starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris Real Estate Coaching. Radio is the nation's number one daily radio show for realtors who demand Authentic Real time coaching. Get ready for flood free, unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or. Hosts Tim and Julie. Hairs. Three to one and we're back welcome to hey, my Gosh, had that happen it's the first day of fourth quarter happy fourth quarter happy expired Palooza. So two thoughts yes. EXPIRED PROLIF-. You guys aren't working expired listings. I don't know what to tell you this point if you if you. Okay. So so for those of you are just listening to us for the first time, I'm going to give you some urgent action items. Go back and listen to our past podcast. Go to I tunes. Go to Stitcher we're on audible or everywhere. This is the number one listened to daily podcast and just searched the word expired listings, and then you will find our scripts, another suggestions, but one of the best times if not, frankly the best time to be going after expired listings this time of year now I'm also WANNA. Remind you that this time of year effectively, October I is you should be thinking about it as. The start if your fiscal year in other words, this is the start of your twenty twenty one. If you want to have momentum going into the year, the idea that I know not all of you say this but a lot of you do this you coast and fourth quarter, and then you wonder why it's so hard to start the following year. It's the exact reason I'm. Telling you now, every top producer every all the most successful people in life not just real estate people. They always treat the fourth quarter as the start of their new year. So whatever you're planning on doing the start of next year have implemented and and have an action. In, the next three months and that's really the number one job. All of you should be focusing on is learning how to be powerful listing agents, and in our opinion expired listings obviously are one of the probably two or three I sources of listing leads you should be focusing on and the other reason that you should be definitely focusing on this time of year is it gives. You a wonderful opportunity to be circling back in showing gratitude showing gratitude all your centers of influence and past clients doing very overt way get started on your holiday cards plan. Maybe again, we've done lots of podcast about this and we have lots of detail plans for our coaching clients but maybe consider doing some kind of holiday get together for the agents that have are the you know. The clients, buyers, sellers whomever that's tried to send you a referral all of these times of all these things that you do this time of year going to pay dividends like you cannot imagine the start of next year. Julie. Yes and in fact, I've seen several of our great coaching clients starting something on their social media on their outreach called Thankful Thursdays awesome. Yes. Because you know thanksgiving. Falls into Thursday. But why did we only spend one day a year being overtly thankful. So they're starting that and they're they just sharing a story of how grateful they are to somebody or maybe doing some extra calls that day but actually calling it. Thankful. Thursday. So I think that's a really great thing to do. I shouldn't say this probably but I am thankful. Honestly and I'm no. Well? Yeah. Well, that's right. So I'm thankful that. Almost. Because frankly I'm used I'm not yeah I'm ready for it to remember we're going to ask for terms of service and Faq's at a two thousand twenty just to say I promise you when they send me that new software updates and you're twenty, twenty one. Operating System is arrived Click I agree I'm reading that I'm not just going to click it and just download the new software is I'm not sure I want another year likely experience here. But all of you to your point, you know remembered listeners that we basically skipped a quarter March April may when the first shutdown started and I remember because you know I, get the updates from of. Different markets of new listings and I remember looking at the Texas market in Austin and fair like sixty days. New Listings for that day was like three or five, and it was really very very, very quiet and then when things started to come back a little bit I, remember the first day that I saw ninety new listings that was like when they were. Okay we can sell estate again. And so my point in this is that we've shifted our quarters already so that the momentum is still there in the marketplace, there's demand, but the question is whether you're going to be in the marketplace to fulfill the demand participate Greg. And that's really what we're in this year more than all the decades Julian I've been in the business. We always have toll coaching clients to drill down fourth quarter, but this year more than ever. For many of your summer months or essentially just getting started in terms of meeting buyer demand and seller demand for that matter and we are incredibly optimistic about even with the advent, and by the way we're today we're talking about types of fear and today's going to be on the skeptic which Julie actually just wrote I was reading these notes quite brilliant I'm not surprised I have to say, good Job Lady. But as far as like all the things that everyone's talking about and trying to get, you'd be fearful of and I'm talking about the Zillow. Open. Door all of these blah blah changes we really drilled down on those topics. We did a think five. Four or five podcast on that, you want to go back and listen to all those out just bottom line it for you. I have never been more optimistic and more excited to be in the real estate industry that I am now. Julie. Yeah absolutely, and you know, of course some coming freshly from Premier coaching calls. Elite. Coaching goals and everything, and so I just had a little tiny coaching thing that could make a lot of impact for people who are struggling working the buyer sides having to compete. The quintessential question is for the love of God. What else can I put into the contract so that we win right? That's right. No that that. Is Not a script. Okay. This is what she points just making us. She's trying to drama just. So you guys are writing down notes that you're not going to say that some parts of the country if you saw that it would you be seen as a blast mean exactly. So so what else can you sweeten and typically agents will say you know what we're already either at full list or we're going over maybe we have an escalation clause. We've got a really killer lender letter which we've talked about before. So what else I'll tell you the trend that I see that his winning, and this is I hear stories from our coaching clients that have. Great Victory Dances on a on the call every day. Okay. You're going to do two things. One is let the seller choose the closing possession date within reason. Okay. You're not gonNA wait a year for it but you know up until this date. So let the seller have that control and secondly and I love this have your lender, the buyer's lender guy. So you're on the buyer side, have the buyer's lender, call the listing agent and actually say to them. Yes we have actually done real underwriting. We're only waiting for them to select the right house this buyer is real I put them through the ringer you have my lender letter at my contact information. The spires real and I think that's a brilliant way to make your point when you're competing and I've even seen some of our coaching clients where maybe the buyer wasn't that comfortable going way over list price but they won because their loan is real it's legit the lender calls and you know lenders like doing this because they want more realtor business. So it's not that hard to talk them into. That's right. All right. So look bottom line guys don't scale down this time of year, turn up the turn up the heat be more focused than you than you normally are maybe more focused than you've ever been if this year's felt like a bunch of. Basically, full starts to you, and yes, I realized that the vast majority of you have absolutely done fantastic in the last ninety to one, hundred twenty days. But some of you guys have had a bunch of false starts and I get it. I mean this has been an eight ridiculously challenging year emotionally and just across the board like I said, we are definitely not just going to automate. Hit. The I agree for the twenty twenty. One. Terms of service that comes around. But with that said, if you feel like you've had a bunch of false starts be okay knowing that that's an. For. The most part been completely out of your control. But what's GonNa Happen in fourth quarter going into next year is in your control and so some of your saying okay Tim I get it. I totally on what do I do well, we've made it easy for you just Jillian I created this is I don't even know wrote it went into right the ninety day massive action plan. Well, we've done some revisions as things have changed a little bit, but it's it's been around one time longtime original Harris rules book the treasure map right. Certainly, on the website coaching glance, use it they shared on the privacy page. We want to give you the ninety day massive action plans going to tell you exactly what you should be doing for the next ninety days every single day, and it's not a huge list of things. There's not a lot. There's not a lot of mind it's action items. Thus the name it doesn't cost you anything and it's free. That's right. So we're going to give it to you. All you have to do is text the word survival two, three, one, nine, nine, six, text, the word survival, two, three, one, nine, nine, six, and when you do we're GonNa tax you back a link and guess what you can join a free are free coaching program now, we started this coaching program at the start of the pandemic we had between I don't even know the number now last time I asked to a seven thousand join. I suspect it's closer to ten thousand now. Well, it's you know why? Because agents need direction agents need to be told what to do agents need, and all of us need to know that basically, if we followed these one through ten steps that we're going to know what the results going to be falling instructions and following directions, and all that thing does not come naturally any of US real estate people myself included but the reality of it is is when you do follow pre created plan, you are going to ensure your success at a higher level and that's the ninety massive action plan that so text. The word survival two, three, one, nine, nine, six, we'll text back link to join the Free Coaching Program. You have to click the link in the email, earned the text and then joined the Free Coaching Program when you log in I, want a very simple process when you log in then you're going to see not only the real estate treasure map but a whole bunch arm sorry gnarliest ninety massive action plan but you're also gonNA see the real estate treasure map I think it's like six or seven or eight other books you're going to see the ultimate agent survival guide we're giving all this to you. So you have to take action on it by simply texting the word survival, two, three, one, thousand, nine six, and it also includes a daily semi private coaching call. So we're not just giving you a website to log some stuff to download or give you access to attend a daily Semi coaching call all this for the remarkably low price of three. So text the word survival two, three, one, nine, nine, six, do that urgently, and again, go right to the day massive action plan, and that is exactly what you should be doing in fourth quarter to make it so that you start out next year with Artie prebuilt momentum and you're not having to recreate everything. which is going to be most likely we're going to be in a completely different market next year or you know completely different a lot of things. But look that's not for today's show in the meantime go ahead and texted survival two, three, one, nine, nine, six okay Julie. We're talking about types of fear and the next point you wrote down was the skeptic yes. The skeptics struggles with fear. Of conflict rejection or hardship, both real and perceived. Sometimes this is because of specific incidents in their past. Sometimes, it's do two stories they've heard from other people that just freaked them out. The skeptic assumes that something won't work versus taking the steps to ensure success. The skeptic can be a bit of a victim if they stay stuck too long in this fear zone so you know in real. Estate that crops up pretty much everywhere and I wanted to make this specific point to yes. Sometimes you guys have something weird happen to you and it stays with you a little bit too long and I see this even with grizzled veterans where they go through like batches of tough deals and they convince themselves at Aachen real estate's gotten so hard and it's not gonNa work for me and I need to take a break. I need to get out whatever and I see it with the newbies because somebody told them once that maybe for sale by owners are really difficult. So there believing somebody else's story but an either case you are hanging onto a belief that's causing fear for you. That makes sense. There's a famous quote by one of the most genius business philosophers of all time. That they're probably going to end up basically carving his face on Mount. Rushmore. That Business Las Virginia who said this I've never met a rich skeptic. I did I knew you were going. Does. Joke. But, yes, that's true. But. I haven't I've never met a rich skeptic now I'll tell you there is an old unless you're of course, like an old school like movie reviewer those people were always skeptics got paid for job right? But I've never met her at skeptic skeptic is always doing. Is Looking for a reason not to take action. So a heightened level of skepticism is. Just, basically, an out of Control Ego. Now, that's low than an obtuse statement comment, but it is also true because what is the skeptic trying to do? They're trying to basically save themselves from having to make any sort of decision right or wrong by just simply looking for reasons why the idea won't work by the way there has never been an idea. The best idea can you imagine delay back in the day? So I'm Steve Jobs. You know a black turtleneck right which wouldn't work here in Puerto Rico. Okay. So I'm walking into the border directors or whoever I wonder if Steve Yeah to pitch ideas to board of directors yet. I got this idea for this little device that we're going to put a lot of music on. Here's what it looks like. Can you imagine all the initial responses people must have had especially back in the day and age where old enough to remember that when you had your your giant? Walkman. That you're used to putting your steed season and that was radical at the. Time and here he comes out and says, we don't have to do that anymore. In fact, there's only going to be one button on vk volcano stay with me. So that was an ipod which many of these guys don't even remember an Ipod we have over old IPODS. We should make modern art than we do I never through out. All right now with paper weights now. So here stay with me. So Steve, he sold his idea the ipod to the board of directors there on my God this thing is stupid it's crazy skeptic skeptic and then finally the all agree to do it and turns out to be an absolute cash call for apple and then a few years later he walks in and he says I got a better idea we need. To stop selling the IPOD and we need to start selling something called the iphone you imagine all the skeptics and yet what do you see constantly you see ultimately people initially push back because they're fearful of change and then when the new ideas starts to take hold, then you're starting to see the world shift that same exact thing is happening with the XP Realty XP realty. Zillow and even open nor Amazon and Netflix people always talk about all these sort of next generation ideas when these ideas come out, people's initial response at least skeptics initial responses that will never work I mean who the hell okay. I'll get. I'll buy books online but I mean how many books can one person by thus Amazon right and then now Suddenly Amazon Bazo politely quietly said, well, we're going to sell everything online. Now whatever dude you know keeps someone on your books there you know keep it in your book club and then what happens is it takes off and it goes to the next idea. so every original genius idea always meets a mountain of skepticism, but then the ones that are early. Movers and move past. It realized that there's some genius in it. Even if they don't understand all that those are the ones that ultimately win and that is what's happening right now as I said before with XP Realty, absolutely pay attention to the XP royalty. Our opinion it's going to be the greatest real estate brokerage in the history of real estate. Brokerages don't believe me based on the number of agents that are joining last month alone there were three thousand agents that joined the XP royalty three, thousand agents from five different countries joined the XP, royalty it's extraordinary. Yeah. Absolute land you know to be honest in the beginning I was a bit of a skeptic as well because you know it's completely different. Yeah definitely things that was like, really that's really how it's set up. I don't know about that. Later you know well, but it is fascinating how many things you have to move pass in the thing for us when before we got aligned with the XP, we had all sorts of apprehension. See We talked to people that we've no loved entrusted involved with the XP and we still you know we're still skeptics. And we were silly about it trank. Frankly, we waited too long a little lazy about it. Well, the greatest skeptical bright though the greatest time to plant a tree was thirty years ago. Just. As good a time now is now right. So what convinced? US ultimately it was when we went to, we start connecting with more. Agents other than just a handful of friends and we started seeing that it was actually real and what you see it you can't unsee it. So Julia next point. Yes. Okay. So that leads to the four questions technique. Now, you're going to hear this and you heard these four question techniques bouncing around and being attributed to different people. So I, looked it up Byron Katie, who is basically kind of A philosopher type. That developed this. That's probably nobody's ever heard of this person but I like to give. So she literally I'm looking at her computer screen she literally wanted to Google Gould where the four questions can't came from an author called Byron Katie here's a quick quote quote I discovered that when I believed my thoughts I suffered but when I didn't believe them, I didn't suffer and that this is true for every human being freedom is as simple as that I think that's really powerful and stuff in various places to. The four questions, technique caves. So we were just talking about being a skeptic and what do you believe what's based on? So I want you guys to write down these four questions hold on I'm reading your questions. I. Know where you would've age if this inspired you initiative that person this is from Deepak Chopra yet while Deepak got it from her oh that's hilarious. Also. Found that yes deepak was referring to I believe that's true. Chopra, we figured out where you got your. We're onto you are but it's good stuff no matter where it originated so. Memorize this technique because you can use it in. So many different places, I. Use this on Premier Coaching quite a bit when agents have a problem or a question about situational things so. Talking about your beliefs? Well, let's go. Let's read through it and then let's give him an exam. Right okay. So the fourth question technique is question number one is it true? It meaning whatever you're believing whatever we're talking about is it true number two? Can you absolutely know that it's true. So that's kind of a little fact checking their number three how do I react what happens when? I believe this thought and number four, and here's where it hits the road who would you be without the fought in other words is your belief which is holding you back making you skeptical feeling a victim actually real thing or is it basically? All made up in your head. That's awesome. And that's basically that is what it is. It's it's mostly in your head and that was what that authors point was is that these things are all completely made up but who are we because we believe so wholeheartedly it I'll tell you the thing that I see the most with day-to-day agent stuff is they were working with a prospect. They thought they were good. They've had some good communication the prospect disappears on them for a few days. Okay. So what do they believe? I'm being ghosted. They hate me and they're never going to work with me. I did something wrong negative negative negative right and so I always go to this and I say, well, how do you know that? How do you know that that's true you're speculating you're making things up for all. You know there are you know on vacation for the next three days or maybe they dropped their cellphone in the pool and they're not communicating with anybody why are you making it all about you? So the coaching is keep following up but don't make up all. These stories they do it when they're negotiating to. They'll have one little more so that they'll follow from the other side and they'll go all. You know they're just terrible this terrible that I don't know why the human nature goes negative so fast but they do. So when you feel yourself having that reaction, go through the four questions is what I'm believing. True. Maybe it's about prospecting, right? I was just thinking that. So like I remember when United, I got into real estate and this was granted back when people were living in caves. Okay. But we got into real estate I. Remember you and I were wanting to learn how to be listing agents and we knew we were driving to the office or you're driving to start. Well, there isn't a starbucks. Coffee Shop. At least in Columbus Ohio there wasn't a starbucks but I remember we would drive pass for sale by owners and I remember wall doesn't make sense to us because there were no coaches and when Jillian I got into real estate there were there was basically no organized education to speak of you guys are spoiled with options too many options really but so you and I had the glimmering idea. Well, let's maybe these i. both things we did there was no internet. So we had to basically just ask questions and of the People in our office and we were with Remax, at the time and we asked agents about the for sale by owners and the answers we got back had we listen to them would have basically ruined what could have been our potential especially in our basically our formative years in real estate. So by let me tell you the punchline we didn't listen to what they say and we sold over one hundred houses our first year in her early twenties when we were effectively out of college. But what they did, tell us where things like. Well, you know what the funny thing is I bet you most people don't even talk about unrepresented owners Ak. It's usually not poss-. It's the worst. You know the things that we heard right there. The worst list things they're. Their unmotivated someone actually towards like will never forget this because it was actually funny. phys bows eat their young you know and. They're the undesirable listings that agents while list because they've got problems you know. Who knows what all these horrible things that the normal agents were saying about for sale by owners and you know, Jillian I eventually came to realize that this both for the most part which put that civil sign in their front yard and what that really was as a help wanted sign that was not that's what it was and most of them had no intention whatsoever of no real intention of trying to sell themselves they just didn't know a real estate agent illicit with so we would knock on their door and we didn't have a script. We figured it out along the way and the script that we have in our premier coaching programs and. That script obviously nowadays, it's a hell of. A thousand years ago. But that had we listened to the skeptics had we listened to all those people telling us all that Mishmash about this Bos, we probably wouldn't have sold over one hundred houses. Now, we didn't listen to him expires either we didn't listen to them about any of the things that they were saying. Because Julian I knew ultimately, we had to experience it ourselves to see if indeed what they were telling us was the truth and then we came to realize this is kind of the funny part is that they themselves were probably not even referencing their own experiences when they were telling us about their bad experiences with a for sale by owner and other words they were maybe new when they'd been knew they had had the same. Thought process where were trying to think about what should I go after his boss? They didn't ask the agents that were in their office and those ages than parroted back something that they were told thirty years before you guys state for folklore. That's all it. Yeah and this legend. So here, I'll tell you what broke it for us. Eventually in there was a guy in our office. His name is Mike Per Chetty, in Mike would only come into the office in the evening when everybody else was gone and Mike Whitsett into his office and he is still in Rosedale Golden. Westerville. Yes, and he was fantastic and Mike would set he would dim the lights I'm not kidding it was very romantic in office and the a double office. Leather like swivel chairs. snuggled down into. That's right. He put his feet up. Dark Biz bows and he we talked about Mike a couple of weeks ago and he was so efficient at for sale by owners and he would lettuce lesson he didn't care Microsoft. Fantastic. He would let. Julian. I listen and we'd listen and we would hear him. He would talk like this. Hello this is Mike per chetty and he called he was so good. Politics, and we wrote down what he said and he was you know everything and then we started. We weren't directly competing with him for the most because we weren't the same marketplace. There were a couple that we distant. Coming up and he's like don't worry about there's enough to go around forever. That's right and so his he had this he had a big new Mercedes Benz and his plate was Dr Bisbo. But what he did is he would come in after everyone else gone and he would do it as where you know you don't have to have a real estate. Obvious. Obvious. Obviously do this from house you really anywhere but the point being had we listened to the bulk of the agents they. We would never have actually taken the initiative and we stumbled across Mike Maybe for all of you where your mic. And we're convincing you guys basically don't listen to even your inner skeptic but certainly the ramifications of everyone else being skeptical and the skeptics were the ones who weren't the ones calling right now we're leaving somebody else's baloney basically because it's so remember one of the definitions of the skeptic is they believe these things up whether they're about themselves or not. They believe other people's stories right so let's go through this. Let's go point number one. All right. Let's say you're thinking about actually being proactively. Generator you're actually wanting to actually have some skills and you want to focus on attracting sellers to you. That's your goal. So is it the four questions to ask yourself are going to ask yourself take them through with regard Sir Julius well. So let's say that you've identified that. This might maybe because you're still being a skeptic right right maybe maybe I could work with for sale by owner. So I've heard all this stuff about for cylinders mean they're overpriced they never sell nobody wants to see. Him Is that true well, I mean maybe I'm not experienced enough to know for sure if it's true. So I, go to question number two. Can you absolutely know that it's true? Well, maybe I detest checks resources like Mike per chetty for example, would be somebody that would say your unexperienced experience versus all the stories in the folklore and all that kind of stuff. Okay. So number three, how I react what happens when I believe that are really hard to work with. Well, it causes me to. Not, do anything who would I be question number four who would I be? If I didn't have that thought if I was actually fearless about it if I actually believed that you know what? Maybe that somebody with a phone number on the sign and Gosh? What do I do for a living I sell homes for a living. So doesn't make sense that perhaps I should talk to them. That business probably is going to want to buy a house and you probably wind up double ending the listing. You know that they have for sale and so the unintended consequences of more positive things entering into your life because you willing to move past that original inner skeptic, they're gonNA last you decades versus ignoring the sign when you drive past it that's right and you know what I was always amazed about years later is that. Our most loyal clients. For sell-by understand why that is, we're for cylinders and some of the short Selwyn and I'll tell you why because they were very clear that they needed help. Actually, tried it on their own versus you know how many people are dealing with sellers that are aspirational. No the markets hot and they can do it on their own. Okay. But then as a for sale by owner two weeks go by three weeks go by all these open houses it's not working for them. They don't want to spend money on the advertising and then you go and do things the right way following the seven step listing process. So I've got. And they win I've got old school trivia question for you. I. Do remember where Mike learned how to hunt fish boast L.. I remember worry toys this too. It's the funniest name ever ready sweat hogs. Oh That's right. All good old Swag Wakeman, right let's. Start in the eighties, right so he had a training program called the sweat hogs we never took. But. The sweat hogs was basically the idea was you're gonNA have to you're hogging your I'm not. I think. Better maybe nicknamed but. sweethearts Google, s still around. So point number four though who would be without the thought well, I might be somebody that just stops over thinking it'd picks up the phone I might be somebody that pops by their open house and actually talks to them. I might be somebody that turns this into a really legitimate spoke of income for myself. I might be feels better. I might be somebody WHO's no longer fearful and no longer being held back by being a skeptic on might be somebody who actually doesn't have to be that person who's essentially. I was GONNA say cursing by we'll say cursing cursing yourself to a diminished version of what you could have otherwise accomplished. Had you detached from the idea you know? Your inner skeptic have you had you set yourself free from that you would have had in you still could have a brighter fuller richer amazing life because guys listen ultimately the emotion. That's GONNA. Move You Pass your skepticism as remembering that the highest truest purpose on all for all of us on this planet is being of service to other people and that's really where the ultimate fear slayer comes in as reminding yourself that that is where you feel the happiest that is where you feel the. Most appreciative is when you're being in service to other people. So disconnect with these fear based beliefs about yourself because really guys are only true if you let them be true. So Jillian around the band. Yeah I mean I think you can use this in many different areas of life in the Harris. Rules Book I apply this to you know running I can easily tell myself I suck at that. I'm not good. That's a good exam just in case. So why don't you talk about that? Because, you do talk about that in our book, Harris Rules which by the way continues to be one of the best selling raw state books You can get on Amazon Barnes and noble anyplace bookstores anywhere and everywhere really it's being sold internationally. It's audibles while also get that book Harris Roles but Julie gives a really good example in that book about her belief about her ability to actually believe it or not run. That's right. So I've never been somebody in love with cardio wasn't A. Track star in high school or anything like that, and you know I also have had bouts of asthma. So all of this kind of combined to sort of convince me that I sucked at running and I was kind of a complete waste bag and I had no endurance and all this. So like every time I, look at a treadmill. It's the same thing. It's like this is not my thing right? Well, if I apply this, is it true? Well, twenty three and me would argue with me. You didn't have the. Chiefs reference something which was funny. But she did that she only discovered this fairly recently yet. She actually has a very rare genetic. Sequence that basically said that she has elite athlete jeans and yes, she puts his hilarious. He puts it in my face all the time get. But but the point is you know knowing that I compare that thought Well, that's weird. Who am I I believe that if I actually know that because the question is, is it true? My actually a complete cardio wimp lease-back. It got to the point where you were believing that you had some physical limitations that were physiological right? You thought your was was. You at us to talk about your knees and this problem that problem you had every single limiting belief about yourself and so you had to go through this exercise yourself and ask yourself as true and is can I know that it's absolutely true maybe. Okay. So how do I react? I don't try as hard I. Give up too quick I. believe that something bad's going to happen to me. I'm going to have a heart attack when I'm running all these spinning thoughts. Right. But here's the important one number four. It's always the most important part of this process guys who would I be if I lost that thought if I, actually believe the opposite and it wasn't. Until we started going to orange theory and I saw the coaches especially but some of our other running mates, right that were actually doing it like I. Didn't know that a person other than like if you're being chased by a Cheetah or something could actually run at twelve miles an hour until I saw. I give this example in the book one of the coaches doing I thought. That's weird. People can actually do that and she's like not passing out. So then I set goals based on getting into that thought and away from my old thought because I'm not just going to instantly run at twelve you. Through the process you said coaches, you put your environment where you're gonNA be reinforcing the new behavior. You're trying to essentially reinforce the idea that you know you need external. ATLA- support if not accountability to move forward, move past on limiting belief. And then. I lost that dot. WHO WOULD I be without that? Thought in other words is that belief holding me back? Is it real well as it turns out it wasn't real and Getting back to my eight minute mile right now. Because I can do that. But even in this is not something that you work on once and then you're like all over it. Right I work on this still every time we work out. I still have to go. Okay. I can do this I do it. I'M GONNA incrementally get back to the minute mile and I have pictures of people running next to me from orange theory that I know they could. Do it. If they can do it, I can do it and I think that this is something that applies to real estate to that. These guys can sometimes be at a disadvantage that just like you used are for sale by owner example, if we simply believe just the first three agents that said Biz buzzer terrible that you never want to go after and just believed it and given. Up, you know it'd be easy to say well, this because this person told me but we kept on researching it. We talked to people who actually we're talking to for sale by owners and we surrounded ourselves with people who were more more tuned into that. Ultimately the difference was as we did it and we did a Lotta tech the rest we took the rest. So I have. Some Fun Trivia questions for you? Okay. What was the first year that someone ran the four minute mile? I. Don't know one, thousand, nine, hundred, eighty, nine, thousand, nine, hundred, fifty, three or fifty four minute mile four minute. Mile Trap. Okay. Well, my fastest ever and I did it once I'll never do it again with six minutes, seventeen seconds and super fast and I was like I'm done. Peaked. That was that was like three years ago I'm not doing but here's the thing. As soon as it was a British guy broke the four minute mile after that the number of people that were able to break the four minute mile went through the roof because they knew they could well, because it realized that these experts their inner skeptic who is telling them that no human can run four minutes. Are My own four minutes all the sudden that was shattered and more people were people starting point that is, but that's ultimately what our role is. Our role because you know do not come from pedigree backgrounds no fancy degrees, educations or anything that would nothing given to us. Anyway, you know a predetermined of thinking that we would have gotten where we've gotten in life the one thing that we have always done. Is Julian I always take action and that's the main thing. Sometimes we do, of course corrections to make sure the direction is in the right direction but ultimately, that's the one that work and we do it consistently and we don't wait around in and again this this is a learned behavior but the getting around the pushing past the skeptic, and then we talked about the different gut ways fears manifest where. You're just trying to basically always getting ready to get started making more checklists than plans gotTA learn this and I've got to do this. The other thing we didn't we knew and I think really we had the blessing of not having a financial parachute or a financial soft landing. So we were always willing and we never ditch that, and that's one of the common elements I've always seen with every successful person. Is that they take away the burn the ships in essence and some of you guys know what I'm referring to. Well, you know we do that in coaching to again in the book the coaching if you know it for us, it was obvious, right? We had student loan debt to pay off. We had all these. You know we had financial motivation. We do not have a parachute rate, right? Okay. So for people who have you know let's just say a decent amount of money in the bank and maybe they've got a he locked they could tap into. So there's not like an immediate if you wait if you don't take action today, you'll be okay. So we. Take care of that very easily to remove that thought and recreate some sense of urgency by taking what you have saved and dividing that into your monthly cash flow, and you can actually did nothing which you know some guys struggle with. You can actually put a big X. on the calendar. You will actually run out of that savings. Now for some guys that can be five years from now. That's okay. For some of you, it's like five minutes from now and the you don't have this problem because it's so ever-present but you do have to to treat your motivation on a daily basis as if that were happening because if you don't take action, you're falling backwards. On this because you actually sparked some interesting ideas, for example, the belief that you have essentially work on your mindset before you get into action has really ruined a lot of people's lives. In my opinion I agree with that. So we need to show them on a series of podcast how to do exactly what you just said and create force a situation where they have to get into action because here's what you guys will discover. Your mindset will follow your actions, your actions. Will Never Fall your mindset in other words thinking that you have to work on your mindset and getting ready to get started? That's just more clever ways of feeding your fear because that's just another. That's another version of being a procrastinator affections wouldn't it work pretty fast if that was on when you wouldn't be spinning for? So we need some. PODCASTS, so they can create. Their own external motivation. Using fear to their advantage oppose the disadvantage short. Absolutely. So listened listeners, Jillian Fun of this podcast. Hopefully, you did as well. Go back and listen to our past shows we've got over three thousand. Listen to. Some of you especially, during the holidays you guys will podcast binge and listen to our shows. So, look if you're ready to get started move forward join Julian is the XP group please do seriously consider texting me directly at five, one, two, seven, five, eight Oh, two Oh, six, just text me directly five, one, two, seven, five, eight, oh two. Five, twenty, seven, five, eight, or two oh six in the meantime. Thank you for the honor of being your at least your podcast coaches and we appreciate the opportunity to be your real coaches one day, and for those of you were already involved in our coaching programs that thousands of you I mean it from the bottom of my heart. It's our greatest pleasure greatest honor to walk this journey with you and if you guys look, the bottom line is is we're entering into twenty, twenty, one, it started today today was January. First Open your mind to the possibilities of what you wanted to create in the next realize realistically fifteen months don't wait three months. Don't let yourself Peter out. Don't pay attention to what other agents are doing, what people are saying take action. First thing you need to do if you're not using our ninety day massive Action Plan joined the Free Coaching Program text the word survival two, three, one, nine, nine, six, just text the word survival two, three, one, nine, nine, six. So Mrs Harrisburg goodness today Yes. Thank you it was fun. This program has been a presentation by Tim and Julie Harris. Real. Estate. For more information on the real estate coaching and training programs visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening. Real. Estate Coaching Radio with Tim and Julie Harris.

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PODCAST: Urgent News, Paycheck Protection Program Details. ACT Quick! | Tim and Julie Harris

Real Estate Coaching Radio

19:30 min | 4 months ago

PODCAST: Urgent News, Paycheck Protection Program Details. ACT Quick! | Tim and Julie Harris

"Welcome to real estate. Coaching radio starring award-winning real estate coaches and number one international bestselling authors. Tim and julie harris real estate coaching radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching get ready for flood. Free unfiltered full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market or hosts tim and julie hairs hello. It is december twenty second. I am giving you an urgent flash news report. We were not planning on doing a podcast today. But our staff reporter. Yes we have one staff reporter janet. Janet came out with this information and she was about to publish. This remain wipe website. Actually these are just talking points. And she's making the article now. This urgent breaking news is all about the paycheck protection program as we discussed yesterday and as we've discussed endlessly earlier this year the paycheck protection program is something that every single real estate agent in the united states at least needs to be considering taking advantage of the way. The program works is quite simple. And i'm gonna read you all the details now but what matters most. Is that your urgent. Because so many of you last year when jillian. I started telling me about these new programs really in earnest in march and april. You didn't pay attention. You waited too long. You thought about you analyze you question that you are getting mixed information. You're basically filling your head full of mickey mouse and you didn't take action. The program closed and then they did up the release of the program again and then guess what happened because you then we're just taking it seriously and getting your paper and you miss that opportunity as well. So don't do it. Don't do for a third time for the thousands of you who listen to us back. Only originally told you to consider taking out paycheck protection loan. You have an advantage this this go around as well so i'm going to read you the details now and then we'll discuss these things a little bit and again. This is a flash news report now than normal. Tim and julie harris real estate coaching podcast. All right. here's we got key. High highlights the nude paycheck protection program. Ep runs through march thirty first. This is the second cash you can get relief aid in this in this second round. This is all we know. So far like i said these are just her notes. But i'm gonna read these to you raw 'cause you guys need this information to get ahead of the line and they're literally is a line and you do definitely want to get ahead of that in read or listen and i'll tell you how to do it they paycheck protection program p back for another go. This revived ppp. Runs through march thirty. First if you applied to receive in the first go around you can apply an hopefully received money again so that part really matters. So if you've gotten it before and this is what julie this is how the banks always operate right so this is not I don't think this is to ahead of our skis with the conjecture here. But if you've actually been approved and had a distribution from pcp in the first go round the bank already has all your information and what they're gonna do most likely is because they get paid a commission for doing these lunch from the government to go to everyone who's applied for alone. I who's gotten a loan approved and they're going to ask you update your loan information probably on one form and then you'll get another round of ppp. So this is something you definitely want to consider because remember. A ppp. Loan from sba is not a. You're not personally signing for it and it alone is almost if you fall very simple rules. They're the ones are forgiven. And we're going to discuss the roles here in a second so make sure you've got your pencil sharp as you take notes and do share this podcast with every single real estate agent you know because for most agents this is going to be essentially money from the government that they're not going to have to pay back again. We're not suggesting you. You have to actually have filed taxes last year. You're going to have to fill out a couple simple forms. And then once you're approved. Basically aced distributed directly into your checking account or your business account all right so the. Ppp package contains two hundred eighty five billion to receive small businesses for additional loans even to businesses that receive p loans before as well as to first time business applicants. But i'm giving you my opinion here that i think they're gonna give preference to the people already receive loans because it's less work for the lenders in the lenders to are in a race to basically Get as many applications in because once the money has been completely distributed. The lenders won't be Essentially give those ppp out and then we'll be able to make the commission so make sense to me. They're going to go after the people that gives them give them the least amount of work to do to get the loans. Done here the specifics. We know at this point through march thirty first as i just said program reopened businesses party received helpless new small business. Applicants loans are tax free loans guaranteed guaranteed by the sba but made by banks and other lenders. Okay so these are guaranteed by the sba. And i'm gonna get into the weeds here in a second and how you know we for saturday this yesterday. About how If you have now applied yet we're gonna tell you what to do. Sba spokesman next round of be launched as quickly as possible. I suspect i wouldn't be surprised if they did it next week. Before the new year. But most likely it'll be. The beginning of january funds can be used for a payroll rent utilities plus supplies from vendors protective equipment for their staff or to fix property damage. Now the way. If i understand correctly i'm not an expert. This in you know if you want an expert talk to your accountant but the way i understand it is you in essence. Have i think it's us seventy five percent of your ppp loan for payroll and that includes your payroll now. Here's the thing that's interesting you might not be on payroll you might be an independent contractors paying yourself directly and there is no like corporate payroll that kind of thing. You've you're just you know. An independent contractor. You can still use this. So this program was designed for people that are gig workers. People that are driving for uber. People that are and any kind of small business again even unincorporated small businesses. So how do you calculate your payroll. I don't remember the exact formula. But i think what they do. Is they take the average for six months and they multiply that times to two and a half times. Oh look i'm reading my notes and there it is. I'll get to the second all right. So i was right so must have okay. You must have fewer than three hundred employees and have had a twenty five percent drop in sales from one year earlier in at least one quarter to qualify for a loan up to two million. Now none of you probably are going to be worrying about alone up to two million. So let's even worry about that borrowers ltd two and a half times their payroll only hotels and food service businesses eligible for three and a half times payroll. Okay so there. It is so if you determine that your payroll last year was fifty thousand dollars on average. You paid yourself four thousand dollars a month you earn four thousand dollars a month in your net income not so that would be like for example if you sold i notice over simplification but gareth me. You still twelve houses. Each house was worth four thousand dollars. Your profit on each of those sales. Hopefully i doubt but hopefully was around two thousand dollars each. So you're gonna take two and a half times your average payroll for that particular scenario. It's not a huge amount of money. But it is again loans convert to grants and a grant. You don't have to pay you. don't pay back. You just have to validate that. You used your loan in the form of payroll And that's that'll be it so my particular scenario that would be what Four times two and a half so it'd be a ten thousand dollar loan that turns into a grant again. I'm not an expert. This but if i remember correctly that's how it works. A publicly traded companies are ineligible for these funds. Most active lenders in the first round include bank of america j. p. morgan chase cross river bank and wells fargo. So if you haven't exist if you're never if you've not well look let's take a step back even if you've gotten to peop- p. long before I wouldn't assume that the bank is going to reach out to you. i would and i'm jillian. I in our staff writers going to keep on top of this story. We'll give you more flash news reports even on christmas day. There's more information that comes out. We're going to tell you. But i am assuming that the lenders going to make it so that the people that have received loans before are going to be offered Another loan i. I'm assuming that's true. Just because loans are going to be much. They're giving out. The lenders won't have any more money to loan. And they wanna make their commission so i'm ninety nine percent sure that's true but even if that is true there might be an added process that where you have to go to a reapply. If that's the case of we're going to tell you buy just keep in mind if you've gotten appeal and before definitely dust off the email of who you got it from and get ready to apply again. The last go round the easiest application process was actually through. Pay pal of all things in some of the worst experiences were through the big banks because with the big banks did as they went to their big customers who then could make the biggest loans to who then they could make the biggest commissions from right. I mean they're banks businesses. That's what they're going to do. And that's the reason. A lot of small businesses were left hanging in the weeds with that. In truthfully they were urgent enough in applying for these loans. So with these big banks did. They had big bank customers. Who had apply. Who would qualify for these you know. Ppp loads in the big bank said well. Let's go to those guys. I and if we can lend you know one business out say three million dollars and we can make our whatever commission is on that. That's a hell of a lot easier than going to a thousand different small businesses and giving out the the loan so in a lot of cases you're gonna have to go to your local so if you've not applied before the advice we gave you months ago. Eight months ago was the same advice or giving to you. Now go to your local bank and generally speaking all banks doing these loans. The big banks are obviously going to be involved in it and then ask them what their process for. Receive for applying for new p. And that's if you've not actually applied before but the other move. I would make is i would go right to pay pal set up an account and i would definitely consider just applying directly through pay. Pal that's probably going to be easy. Button was last go round all right so allows business owners who received loans in the first round to claim deductions for expenses. They paid for the loan proceeds which is interesting. So that's actually a fascinating thing. Actually now i'm thinking about. This is the first time. I've read it so what they're allowing you to do. Is you gotta loan. That actually turned into a grant that was free money and then you went and bought equipment for your business or pay the lease for your business. And now you're able to write that income that money off those actually essentially a grant or free money you're able to write off from your taxes as if it was a business expense. That's fascinating. I don't quite understand that accounting but that is interesting so they're allowing you to essentially get benefits from the program. They're allowing you to take to get the money that will inevitably turn to grant that you don't have to repay you get that money and then they're allowing you to deduct that amount of money as if it were a business expense from your taxes or anyway. Last point loads may become grants if and when the recipient is in compliance with already requirements and reporting documentation thoroughly and completely and. That is as we let me see. Julia actually printed this out for all of you guys yesterday. I wanna make sure. I tell you the proper for it's right here so the forum is paycheck protection program. Ppp loan forgiveness after form. Three five zero eight s. All right so just google that. So it's a ppp. Loan forgiveness application for him. Three five zero eight s and as i look at this This is just basically a bunch of initials where you're verifying what you did. And it's not something that any of you shouldn't Or should be afraid of something. All of us should be seriously doing so. Look guys we can banter about. We can discuss whether or not taking advantage of this program as you know the right thing to do the wrong thing to do. And as we expressed back in february and march and our opinion is the absolute important critical. Smart thing to do. And the reason is is because like eminent domain and this in our opinion when the government shot all america down shut all these businesses down on a lot of these businesses. These small businesses are still reeling. And they're going to for years you don't just snap back from the essentially having the world just essentially shut down all businesses losing cash flow for long as they did and remembered just because the government stepped in with these ppp loans. It did help obviously a lot of folks but in small business owners but at the same time there are millions that were left out in the wind. So you know the the simple fact is the government came in and basically told you to shut your business down and essentially effectively put you out of business or at least put a serious financial hardship on your business. That is what happened and our opinion that is similar to this is. I'm giving you this guys so that if you were wrestling with the idea that taking money through these program somehow morally wrong right. I'm trying to give you a little bit of maybe a different stance on it. So if the government had come in your local state government come in and said they're gonna take your backyard and they're gonna put road. They're they're going to eminent domain right. They're going to effectively go through the legal process of claiming your property for the betterment of essentially the community rate the city. The state the neighbors whatever they could that happens all the time with with farmland when they're putting a power lines and power lines generally speaking around a long term leases. But you guys get the gist of it you understand. Hopefully because ninety nine percent are real estate professionals with eminent domain as well effectively that falls in under the constitution. And something called the takings clause. And i don't remember the specific number. But if you google it. It's called the takings clause with the takings clause s and says what the government takes must pay for and so the government took the livelihood for millions and millions of people and it must pay for it now. Did the government have to come out with these at these. I think very aggressive and perfectly timed. If you want to know the truth and jillian are small. Are small government types They did it perfectly the first go right. It looks to me like they're going to emulate most much of the success of the first program and help a lot of people out. Now there's again. There's a lot of consternation from people that are said well. Those small businesses weren't prepared for any kind of setback and they. They should fail anyway. They should you know fail. So new businesses congr- agree with any of that honestly it doesn't make any sense. Those people did not fail from their incompetence or those businesses are not suffering now because mistakes that they made their not. Those businesses are suffering now and those people and those families over christmas. Think about this are suffering because of the fact that the government essentially took their livelihoods away. Those people should be compensated for that just as if it were eminent domain again. We had some interesting. I would call them debates earlier on in the spring late winter about this very subject. Where a lot of people are really offended that we were telling people to take advantage. These ppp loans. But over time the voices in the of thanks and praise for all of you. Who did listen to us. Did take out these loans at turned into grants and thou and those financial lifelines. Those you know the money from the pc did provide you a lifeline. Did keep you in business. Did set you up so that you could whether the three or four month financial storm little or no income and did make it so that you could come roaring back so the moral of the story here is based on the historical facts in the last twelve months every single one of you should apply for these loans. Every single one of you will qualify for these loans based on the requirements member. Would i said must have fewer than three hundred employees. A twenty five percent drop in sales from one year earlier of at least one quarter to qualify for a loan up to two million. Well i mean for for not for up to two million but all of you will just basically have to substantiate that you had a decrease in income which view obviously did either second. Well really could have been first or second quarter third so there you go stay tuned guys. This isn't going to be a long winded podcast. Because this is our christmas holiday. That i couldn't sit on this information. I wanted to all of you to habit urgently. We are soon as i know how to apply for the loan soon as chilean. I have more information. We're gonna share it with you but right now please pay very close attention to our podcast and what we're saying to you because what matters most is your first in line right it. Does it matters most that you're letting your back though that you wanna law matters most that if you had a ppp loan before you reapply that's necessary at the very least you rattle the cage of your lender and say. I want another ppp loan. That might be a good thing for you to do now by the way that might be your homework for taste podcasts. So in the meantime please do consider texting. Twenty twenty one eight five five six eight five ten forty five and when you do. We're going to give you your twenty twenty one fill in the blank business life plan so go ahead and text twenty twenty one to eight five five six eight five ten forty five when you do. We're going to text you back a fill in the blank business plan which we've been using for years. We modify an update every year. It's called the real estate treasure map. You can buy this on amazon. But i would suggest you don't just get the book for free. And that's the real estate treasure map. Not our best selling book harris rules. The harris rules is never going to be for free. That too is available on amazon. And barnes and noble and everywhere else but The i'm sorry. the listen. I've got on the brain. The the business plan the real estate treasure map just text twenty twenty one eight five five six eight five ten forty five. I really am excited. Obvious you can probably tell about ppp. Loan and i'll tell you why because a lot of you are going to have leaner months as we roll into next year just the nature of a vast majority of agents that they're ill prepared through the winter. And this is going to give you a financial lifeline. Talk about perfect. Timing for real estate professionals. It's crazy so do pay. Attention this podcast. We're going to be giving you the best of breed information the second and becomes available in the meantime. You guys have a very merry christmas and we are going to see. Probably do our predictions article for twenty twenty one next week. I do have a very special interview that we're going to be doing tomorrow. Jillian i love you. Guys know live in puerto rico and one of our dear friends. Gene frederick lives in puerto rico as well. He lives in a different Community and we're gonna be driving his community tomorrow and we're going to be doing an interview with them. Those of you. Who don't know jean-frederic as i think personally in the real estate industry he is probably i'd say in my opinion. He's one of the top five most influential people in the real estate industry and influential in the way that matters. And we're gonna be explaining that tomorrow so do do take the time in tune into Listen tomorrow and the podcast is probably going to be an hour. Maybe an hour. Maybe even two hours it depends depending on what he and i get to talk to you about so be prepared. In the meantime your homework is definitely to get ready for your application. And if you've not purchased our book harris rules yet do consider doing that. It's available audible. There's over four hundred twenty five five star reviews now for the book so please pick that up. Is the perfect christmas gift for yourself or that real estate professional in your life of a fantastic deal. Talk to you on the show tomorrow. This program has been a presentation by tim. And julie harris real estate. Coaching for more information or real estate coaching and training programs visit our website. At tim and julie dot com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to real estate. Coaching radio with tim julie harris.

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Podcast: 20 Proactive Lead Generation Rules (Scripts, Systems and Mindset) | Tim and Julie Harris

Real Estate Coaching Radio

29:48 min | 8 months ago

Podcast: 20 Proactive Lead Generation Rules (Scripts, Systems and Mindset) | Tim and Julie Harris

"Welcome to Real Estate Coaching. Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Realistic Coaching Radio is the nation's number one daily radio show for realtors who demand Authentic Real time coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Three to one and we are back Julie Happy Anniversary as well to you. Yes and I don't think anyone who knows this a surprise all working on our anniversary now come. In happy anniversary to everybody else September anniversaries and birthdays. There's a lot of those Yup. So and thank you for all of your nice posts and well wishes to us. We appreciate that. I. I've been on Facebook to look but that's nice. Yes we appreciate it very much and yes, we have been married for Dome Dome Twenty Nine Years, which is quite amazing. Yeah I mean. All these years but we will reminisce and be all that stuff on Sundays. During the our podcast is all about getting row work done and helping guys state drill down and focus. There's never been a better time in to be in the real estate industry because of all the change. And the changes that are we're experiencing our just gonNA come faster and more furious both the doors closed. Yes and so really what you should be looking forward to is an opportunity to be of service to more people than maybe you ever have before but you've got to remember you have to earn the right to be of service to people, and by earning the right that means you have to have the skill set to solve the problem. So if you find yourself, you know putting all. Your best energies and efforts every single day thinking that your job is to know basically look for leads looking for leads is obviously critical. But at the end of the day, the weeds won't want to do business with you unless they see you as the person that's going to solve their problem and that's what it comes down to skills and our coaching program. Obviously, we teach you the skills being proactively generator but what comes after that is equally as critical I? Don't want you guys lucite. On that generating the lead but not having the skill to solve the problem isn't really GonNa do you any good 'cause you'll maybe have a lead but you won't know what to do with that lead. You won't know how to solve their problem. Now, why am I bringing us up because I've been on a bunch of coaching calls today Julie's been on a bunch of coaching calls today talking to all of our coaches and we're seeing more complex problems that are starting to come up from. All the different financial issues that people are going to start experiencing as the I know Kobe financial infusions, US sort serve, run their course and I think you're really gonNA start seeing a lot of people who have been extending and pretending they're problems financial problems in particular they're going to start having to deal with those problems in the new year. So expect that to happen and really guys. That's okay. In engineering, you can really do about it because once PP money and the money and the. Extended unemployment and all these mortgage for balances and all others, eviction moratoriums all that stuff runs its course you're gonNA start seeing really what the true effects of this a recession that we're all sort of plucking our way through has been and just be ready in the way you're going to be ready obviously the skill set to solve a multitude of problems. Yes. That's right. It's all about skills and that's a good segue into a little series that we're going to. Do. We called him rules for prospecting, and that means that you guys are GonNa take some good notes and I, did use that word prospecting can call it lead generation. If it makes you feel a little bit better. That's all right but it's prospecting. Prospecting is the ability to create at will leads for you to follow up on turn into appointments. That's what prospecting is. You are hunting down your business and yes, I use the word Tim I know that maybe some of them. Peed their cancer hides, but it is lead generation otherwise known as prospecting. Now, we always like to start out when we do a new series we like to start out at the top with a little bit of a mindset thing to get you guys ready for the more serious points and that would be number one. It's your job to make the prospect. Remember you not the other way around it's your job to follow up not there's a race from your speech and from. Your thinking quote, they'll call me when they're ready replace your drip system with actual communication. That point probably should be podcast. You know I think it has been the drip campaigns. We talk about all the time and here's the real bottom line. If you guys want save yourself a lot of effort worrying about your crm's and your cleverly written emails and you're crafty funny videos and all that, and this is the unfortunate truth and guys most of these things that Julian I tell you. We don't tell you. You know joyously because we'd love it at the easy button stuff work just as much as you guys would but it doesn't. So every long-term are ivory research studies ever Don. Drip campaigns in particular has proven out that they really don't work in other words they're virtually not worth doing. So why are you spending so much time on drip campaigns this because unknowledgeable people or ill-informed people or people with Malan tant are telling you you drip campaigns those are. The bottom line reasons why but here's the real maliciousness of doing drip campaigns and this is really what I want you to internalize because it's the truth. The only reason that people wanNA create gyp campaigns is to hopefully compensate for their frankly unwillingness or inability to really drill down and prequalify elite. You should never have that many leads that your goal is not to have hundreds let alone thousands of leads. That's when you when I hear somebody say that and salesperson in particular. That is an immediate red flag. It tells me that they don't. They're very ineffective at basically the definition of elite if that's what they're saying. Yeah exactly and so that's the problem. Ultimately as you guys have to understand the lead is by itself. Worthless elite is just the name of phone number and email address somebody that showed signs of you know interested in doing business with you at some point but that's it because that lead is probably also being chased by thousand different. Other agents. So you just got to keep that in mind lead by itself as worthless at prequalified lead that you know their motivation. You know, let's just focus primarily on sellers and you've determined to have to sell seller back actually a good lead now would you really determined after the seller that they have to sell? It's a good leader. You really just going to put them in a drip campaign and yet that's what a lot of you guys do. You just heard Julie Laugh. True. Because you don't want to basically get to the point where you're actually learning you don't know what to say to them. That's the essence of it, and so you don't know how to set the appointment. You don't know how to essentially push your way to the head of the line in their their mental list of agents to consider for the job of listing their home. This is all a skills deficit on your part. So one of the first things. That we always suggest all of you guys do give everyone always starts asking us what crm they should use, which is by the way the same silly questions going on since the nineties which crm should I use You know this is not about centers of influence and past client organization by the way. That's not what I'm talking about here. What I'm talking about you guys using drip campaigns to basically try to compensate for your lack of wanting to direct proactive. Really communication calling them in other words and asking the tough questions that would determine whether they are motivated not does that make sense late it absolutely does you say going into several future points, but definitely it all gets back to skills at the end of the day. How many how when you're coaching somebody an elite coaching clients somebody who's at the top the game somebody earning probably millions of dollars per year generally speaking. It's funny almost all of them do have drip campaigns but none of them get business from virtually series. They don't take him seriously just something they set up forever again they just never have canceled really that's what they are. But how many leads the top people that you work with generally carry with them at all times Maybe maybe fifteen. Yeah I was GONNA say anything I said between ten and twenty. It's exactly what I not hundreds and it's certainly not thousands. Their definition of elite is much tighter than the average agent alita somebody who's actually going to do business with you buying or selling in the next sixty days at the farthest or less or has a logical reason that it's going to be a little bit later than that. But here's the fallacy to there's somebody listening right now who saying, well, of course. They don't have to have that many more leads because they can be altered picky because they have so many more opportunities that business. So that becomes a chicken or the egg conversation, right? So are they all treat picky at the top of the game and they have you know they can pick the best fruit off the apple tree and they can be super picky or is it because they learned to be super picky and that's what made the top producer guys get the difference Elodie to generate. Tolerate less quality business rights remember these are the rules for prospecting. Prospecting is lead generation. So the better you are at generating the more picky you can be, and this is why when you don't have a lot of Scalia work with anybody because you don't really know the difference and that's the reason that the percent of all agents fail within twenty four months or less because no one's being super honest with them about all this stuff except us. So let's play number two, number two okay. prospect even when you're busy especially when you're busy in his book fanatical Prospecting Jeb Blunt wrote I love this quote which guys pay. Attention to this superstars are relentless unstoppable prospectors. They are obsessive about keeping their pipeline full of qualified prospects they prospect anywhere in any time constantly turning over rocks looking for their next opportunity they prospect day and night unstoppable and always on fanatical. That's a big difference between how most people go through their sales lives. Yeah. It is and it's but it's it's a mental approach to shift and how you actually think about things. Again, you go back to how most realtors think of lead generation where do they think they're supposed to do get out their credit card number and by leads, which is the exact opposite of what a professional does. So point number three don't be a secret agent. One of our short sell coaches in the recession coined this term secret agents have skinny kids once a secret. Secret agent is somebody who is indeed licensed, but never actually talks about real estate. If you're dependent on repeat and referral business, you will hit a wall pursue both people you know and those you don't know in order to create consistent cash flow and eliminate cash spurts. Don't wait until you lose a killer listing, create your pre-listing package, learn your listing scripts. And polisher skills. So agents are secret agents when they don't really it's like they're afraid that somebody will figure out that they don't actually know what they're doing or that they can't compete or they don't know you know which is kind of an expression of ego to think about it. Well, it totally is actually secret agents thing joey that came from Howard, Brinton? Remember he was. Yeah Skinny Kid came right but that's the truth and at the end of the day, the reason that agents are act or act like that ultimately is because they have not fully committed to themselves as a real estate sales professional. In other words, they don't want to be seen they have all kinds of psychological. You know issues mostly with regards to sing themselves a sales people they don't want to let people know they're a realtor their egos are running amok about Oh my gosh what will they think of me? Well, I mean th th this really ridiculous. stew of. Competing information that's mostly rooted in an ego, which is going to result an inevitable failure. So the purest way of thinking about real estate and life in general especially when you're trying to help people is that there's a direct correlation to the experiences that you have on this planet the quality of life you have the health, you have the friends you have the money you have the experiences you have the money you're able to donate all. The sense of wellbeing the sense of freedom all that stuff. There's a direct correlation between all of those things in experiences in the number of people you've helped, and so if you are living a life that is not the life that you would have envisioned for yourself. When you were a kid, it's because you are still struggling with what your highest and truest purpose on this planet is, which is to be of service to others, and by the way our way of being of service to you when we started this during Cova Julie just reminded me by the. Way Is that you. We created the Free Coaching Program for you guys. Now, this is a shadow of our normal coaching program that is available to all of you and all you gotTa do is text towards survival to three, one, nine, nine, six, text, the word survivor, two, three, one, nine, six, and when you do we're going to text you back a membership an opportunity for you to join the Free Coaching Program the Free Coaching Program does include a daily Semi Private coaching call, which on some days is run by head coach Julie, you literally can have direct interaction. With our coaches on a regular basis, and we do give you a lot of content real estate treasure map thinking we're rich real estate You know I think there's seven or eight different books. So you definitely want to get on that free coaching program. That's a no brainer for all of you. Especially, this time of year is you're building momentum into next year search text the. Word survival three, one, nine, nine, six. Yes. So point number four, pursue suspects and prospects. You should be asking questions and using scripts, not winging it and praying to the real estate. God's is everyone on your drip system or are you having real conversations asking questions and listening to their answers? What's their motivation there timeframe and are they actually qualified these questions all come from the buyer and? Seller prequalification scripts none of it is difficult but I, think it agents make it harder than they should on themselves because they don't learn it in the first place they make it into a bigger deal than it is, and then because they don't ask those questions in the prequel scripts, they end up trying to back fill with answers later on in the relationship which never works right That's why you know sometimes you get somebody in contract, it's not actually qualified to buy at that. You know overinflated overbid purchase price. It's why you don't really know enough about their financing to know how to you know to deal with their situation. So that's because you're not asking questions. You're not asking questions because you don't have the scripts in front of you. All of this is curable. Point number five, and again, this could be its own standalone podcast. I've had so many agents tell me on this point that it was life changing in their business you wanted is are you ready? I'm ready answered the phone. Chess. Send everybody to voicemails. I would say for the love of God the phone on your future points is basically furiously fast lead fall up, but it's sorted. It's related and that really is incredibly frustrating and annoying just think from your own perspective guys you are interested in buying a product or a service, and then your what is your experience when you call into said business is that essentially nobody ever wanting to communicate back with you? Here's a funny recent experience that we've had so are in Puerto Rico your. Back up everything right you need backup water you need backup electric, you need backup. Internet you need. If you phones, you name it, you need backup for it. Drink. So we have our own cistern, we ever own a big huge gross looking diesel generator now and now we're going to get backup Internet. So yes, we have cable there's a cable provider you know. But every time the electric goes out to the grid. The cable service goes out, which means we don't have any internet connectivity. Well, there's this other company in Puerto Rico that's essentially filling the void and they've got this stellar Internet connection system. It's direct fiber optic. It's the best of the best everybody who has a small business owner here knows about it and it's not that expensive. It's fantastic seemingly the perfect of all worlds we'll guess what they will literally not communicate back to you in any form. They will not email you back. They will call you back. They will not text you back. You have to somehow send a carrier pigeon you know on the Right Day flying the right direction when the stars are in the perfect for them to ever acknowledge that you exist. That's exactly how many real estate agents conduct themselves because they rationalized that they're too busy is that really what's going on your ad the funniest example of this effort? Is Only happen just once it's been many times of had this exact thing happened. Agent. Emails either from podcast or somewhere they email you or I, they need help with their lead generation. Okay. We call the set up an appointment there voicemails fall. Does that make any sense to you? I need help with generating leads and yet I haven't even answered all the voicemail which I inevitably sent every potential lead to where they landed together and I can't. Tell what's a good lead from a badly because the bad ones the good ones and I can't even leave them a message because it's so full and yet there request was helped me with generation. So one twisted that is you call at McDonald's we've had a coaching client forever I remember you told me that one of the things that she said had the most. Impact on her business, and she's one of the best agents she was one of the top agents at remax and she's one of the top agents at Esp is part of our ESP revenue share group, and if you guys WanNa learn more about e. x. p., you can just text me directly if you're ready to join the XP TEX directly at five one two. Seven, five, eight, Oh, two, oh, six, five, one, two, seven, five, eight, two, six, zero, your questions or if you're just e XP curious, you're just getting ready to get started learning about it. Just text the word e X. P. The letters espn two, three, one, nine, nine, six, just text the letters e x p two, three, one, nine, six but I remember call at. Toby me after one of your coaching calls it wasn't just one. It was a series where you actually had to force her start. Pursuing furiously, vastly boss, which is a Tim Julie Harris copy written statement, right. So furiously fast lead follow up what does that mean, and so this is where a lot of you guys will get into this analytical Malays about leads and all this that they text you. They only want to be texted back the email you. They only want to be emailed back or pay all these silly rules. So here's the only rule that matters when elite shows up anywhere in your orbit your have you have to call that lead back within one minute or less the faster you call the lead back the better. Now, why is that matter because the there's no downside and being. From the perspective of the consumer to having a salesperson be furiously fast with their lead fog there's no downside from your business from a profitability perspective because you're going to impress the hell out of the perspective maybe seller that you are incredibly efficient and following up on your business unlike every other experience that person's ever had with any other real estate agent on planet Earth, what are you up to Julia writing something down reminding myself to talk about the slow bit infamy which is about to happen right. So Mike, you're right. Yeah. So that's the main thing guys furiously. Fast lead up, there's one thing and now here it's not enough just to call somebody back and it's always call to be clear about that. If someone text you call them back if someone emails, you get their phone number and call them back if it does not matter, it's the voice that matters is the direct contact. That's matters. If you're asleep fast lead follow up that matters and then use our prequel scripts and you get him on the phone don't just wing it call them back and then use the scripts in scripture we described every day are essentially a. Well written and tested honed a series of questions that are designed to get you out of concern to produce a consistent result and they're asking questions in the order that makes sense that are going to make it so that in essence y'all determine how motivated that ideally that seller is and the mistake a lot of you guys make and this is the big tragedy. I think amongst modern real estate teams and brokerages in particular as you guys treat buyer leads that are calling and people who present themselves as buyers as the red headed stepchildren redhead step children are protective. Class now maybe they maybe they should be right but you guys are treating them like you know they're not ideal business because they present buyers, your ego gets in your way and you're not realizing and in some markets seventy five, maybe fifty, seventy, five percent of all your buyers are actually sellers to they might be calling something for sale. But if you were to call them back right away, you quickly determined that they had a house to sell or better than having to call them back, answer the phone, the Damn Falls and Ram Fun and you know I remember. You said Colette had been doing a series of some coaching stuff with me. That was from eighteen relentless lead follow-up rules, which they also go with the coaching program and I have to go you to go to premier coaching. So we'RE GONNA get back to this tomorrow and guys look obviously the core of any business, the core of anybody who's successful at anything in life. As long periods of doing what you don't want to do enjoy happy anniversary and those of you who are in premier. Coach. Coaching make sure you got to premier coaching calls live every single day they start in Julie's got be on Premier coaching and four minutes. So there you go. So guys the essence of anything that's worth having in life is funny I'm saying this after. An are diversity but it's Totally wrong but I'll loop it back in. So it sounds good right as long periods of doing what you don't want to do when you don't want to do at the highest level and you know a lot of you've been married longer than Julia night and hopefully the same person right being married to multiple people for twenty nine years isn't quite the same. I, don't think that's a joke not trying to offend anybody but hopefully, you guys are getting the point and there are long periods of time in a marriage in a business in life in general where it isn't pleasure pleasurable as it should be where it is a lot of work and you know prospecting is right up there. There's A. Lot of prospecting, it's not going to be pleasurable. You Know I had a coaching. I've had many coaching clients who've had problems in their relationships with their spouses and whatnot, and it's because they had unrealistic expectations of how they would emotionally feel towards their spouse their entire life that you know they don't realize that the nature of relationships. The nature of love in general is that ebbs and flows that changes it evolves into something. Sometimes you feel like was when you first met other times, you feel like you're an old married couple contact with and I had become but the reality the reality of it is is that the nature of it changes but the intensity of the intent, the intensity of the. The ramifications of it never change in other words when you're staying on course with something that's worth pursuing for example, the creation of a new habit called proactively generation on the other side of that is everything that you want in your business and personal life and what are the key indicators whether or not again, trying to do my best tiny this into the fact that today is our anniversary. One of the key indicators of long term success in marriage is. Lack of financial issues in the in the relationship, but also having shared goals. So if there are two pieces of advice, I'll end with today just for those of you who are interested in being married for a long period of time and frankly I you know I've always been in love with July for thirty years plus I met her when she was sixteen and I. Feel like I'm the luckiest guy in the face of the planet and I really do. I do honestly feel like that every single day even win Jillian Iran struggling motive our marriage and our business life it was struggling together, which is my point when you set goals together long term and short term goals together, that is going to be the glue that's going to keep your relationship on track. You don't have to work with your spouse I mean trust me when I tell you and I know Julie would second this in A. That working with your spouse or most of us probably a bad idea. It does not. It did not come naturally for us. We learn to do it by essentially a splitting up the responsibilities in the business. We don't cross swords about who does what because it's really difficult to have. A marriage in successful business have those things beyond equal footing. It's almost impossible. So I'm not suggesting of you guys need to follow that path and partner with your spouse, and if you do then you know take the suggestion just gave you is just basically don't have you don't make it. So you guys are doing the same jobs because that's going to create a lot of. Stress in other words, one person's primarily focused on lead generation sales. The other person's primarily focused on running the business and essence. That's what I'm saying, and that's true in any kind of business by the way. So we can talk about that another show if you guys are interested but the main thing I'm trying to convey to you is have shared goals and when you're when you're. In your twenties and you're getting married have shared goals with your wife or your husband or what have you, and as you as you start having if you have a family, then have share goals with your kids. That's the main key element to long-term levels of success when people all feel like they're moving together. Moving forward together in, they're seeing the accomplishment of goals together. That's what excites people. That's what excites relationships because then you can see the forward momentum, the forward progress, and the other thing that join I've learned to do is we do we spend a lot of we intentionally spend time. Together we go. We'll exercise every single day during this covert thing we're in lockdown and our JIM was close. We will go on a six mile walk everyday. Well, we've always intentionally schedule something like that every single day we've done that literally for the past twenty nine years and we did that because we knew the importance of staying. Staying connected on our walks sometimes, we don't talk sometimes you talked about just silly things. Other Times you talked about what we are goals are, where are we on track or we had we behind what are specific goals are this is the type of. This is what for us it took for us to accomplish what we have not just professionally but also personally would we been able to accomplish what we have professionally had we not done on the track on track personally I can say probably not because one thing is essentially those two things go go very well together. So from someone who's been married for twenty nine years. In your doesn't matter if I'm speaking primarily I can imagine to the younger group of you who listen to us every day which I know is a lot. We have a lot of millennial coaching clients and you're wanting to have a long term relationship. You don't want to have divorces and all this financial hardship start with the shared goals that really does make a difference how the shared goals. It's okay to have your primary goals when you're younger be financial goals, those are these ones actually have clarifying thoughts about and also the easiest ones to create action plans behind and for everyone. To get behind. So how shared goals move forward together now, if you've been married for a long time and you're feeling a little bit disconnected and trust me when I tell you go back to the shared goals thing and it's OK again if they're primarily financial goals because again that those are easy to clarify people can get behind. So I was talking with a friend of mine yesterday and he and his wife set a shared goal and they've been married as long as Jillian I have they're in their sixties and they had the shared goal of they wanted to go on a global. National, geographic trip in other words, there's national geographic does he's chart they chartered this jet and there's like I don't even know how many couples like a dozen couples and their The trip they plan on going on is the seven wonders of the world or send you guys. You guys aren't talking about that's what they're gonNA do and so they fly from. Egypt and then they might fly to. Israel and then we're going to fly to hear the In on when they stop and they get off their staying at five star hotels but this is something a gold they're setting together. It's expensive, but it's definitely worth going. You know it's definitely worth doing. Well, you can do that at any point in your life and that's definitely something we'll keep everyone focused on. Living an appreciating life appreciating each other it's this isn't any sort of deep philosophical approach to life. That's not what I'm sharing with you. I'm sharing something very practical tactical. That's worked for Jillian I and again, this always loops back to your willingness to do long periods of doing what you don't want to do when you don't want to do at the highest level. So for you to get to the point where you can. Afford the two hundred thousand dollars to go on that global trip that I was just describing to you because that's what they told me it cost. You're going to have to have earned the money an essence. In the way you earn the money from having earned the right to be of service to a lot of people you guys get it. You see all this stuff is connected it. There's no deep dark mystery about money and. Not having money. There's no, there's no secret guys. This just about long periods of doing. You don't want to do when you don't want to do it at the highest level and having that become habitual, and then eventually you'll get the payoff from those activities. Don't look the the novel the exciting the you know the shiny object type things. When you see those show up on your radar, you have to develop an absolute repulsion to. Them because you have to know what those are essentially as time and money wasters ninety nine point, nine percent of the time. So if what you're thinking about doing in your business does not create some reasonable level of anxiety probably not worth doing. There's a nice little filter for all of you guys who are trying to get your heads on straight about proactively generation. So hopefully, all this make sense and you tolerated my rambling about. All the things I was just talking to you about and I think a lot of you guys will understand where I'm coming from with regards to working with your spouse and having long term meaningful relationships it does take work it doesn't just happen. Anything life worth doing is going to take constant You Know Omni present effort and that's really what I'm suggesting to all of you guys and yeah, it's definitely worth the payoff lock term term periods of you know real work and trying to get to become the best version of yourself. In this particular case, a real estate salesperson guys it's definitely worth it so don't. Give up on that dream don't become one of the eighty five percents that they'll within twenty four months right so if you need me for anything, please tax me at five, one, two, seven, five, eight, zero, six plays text me at five, one, two, seven, five, eight, zero, six in the meantime you guys have a fantastic day and we'll talk to you on the show tomorrow. This program has been a presentation by Tim and Julie Harris Real Estate Coaching for more information on Real Estate, coaching, and training programs visit our website at Tim and Julie Harris Dot Com. Remember to tune in the weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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Podcast: Real Estate Market Mayhem Continues, What Happens Next? | Tim and Julie Harris

Real Estate Coaching Radio

30:50 min | 9 months ago

Podcast: Real Estate Market Mayhem Continues, What Happens Next? | Tim and Julie Harris

"Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors Tim and Julie Harris Real Estate Coaching. Radio is the nation's number one daily radio show for realtors who demand authentic real. Time. Coaching. Get ready for flood free unfiltered, full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market. Or hosts Tim and Julie Hairs. Three to one, and we're back welcome to Monday August twenty fourth. First of all a fun announcement and as always our podcast. Into three real parts we I is news and announcements, and the second is going to be tales from the frontlines of coaching. Some of the nation's leading role agents and the third thing is generally speaking we give you something that's educational and motivational to get you guys into action well, before I get a fun little announcement Julie Welcome to the show. Thank you. It's my pleasure. We've already dodged a few major thunderstorms a little bit of home school. Now, we're under the coaching day. I think. We have people. You guys are watching the weather. It's so funny. Okay I promise. So many of you are worried about us and we appreciate no, I'm telling you guys Puerto Rico is still here. It's an island that seems not to be you know it seems to be pretty immune to all these hurricanes that are kind of blowing by so far this year if we get one, we get one we're ready we are completely prepared. You guys do not have to worry about us we live in a house that seven inches of concrete roof walls. The whole thing it's been here for a long time and a generator. Solar water tank which as it turns out is not so great on a cloudy day. Other than that. It's good. But for those of you who live in the Gulf coast I guess that. You Know Hurricane Laura and Marco are set to get together and slam anywhere from Texas to Louisiana just that whole coastal area. So you guys be careful and safe and you're now. So this is the fun announcement I'm trying to pulled up as fast as I can have this done prior to the start of the show. All right here statistics. All right. This is from podcast I thought you guys would appreciate this. The. Right page here this. All right. So this was really kind of funny as we switched over from our old podcasting. Service to this new one in this new one gives us a lot better analytics and I thought you guys would enjoy a hearing where we have listeners now because frankly I'm kind of surprised well, no, I'm shocked. SURPRI. All right. So first of all by far ninety five percent of all of our listeners during the United States, right And it's it's literally tens of thousands of you that listen to us every day and Canada then it goes by it goes the candidate than the United Kingdom. Then Qatar now this starts to get fun as I. Scroll Down There. So there's forty nine countries where we have pretty consistent listeners Qatar we have hundred thirteen listeners in Qatar. Okay. I do not see. Thank you. New Zealand doesn't surprise me Italy doesn't surprise. Me Had coaching clients in Italy Czech Republic doesn't really surprise me but then goes scroll all the way down on this list of forty nine countries and I see India that kind of surprises me but not really I know XP realty just expanded to India. So I'm assuming that an India Ross Rossi transactions are done similar to the way they're in the United States or at least there's enough Similarity a dozen surprise me that we have listeners in the Philippines doesn't surprise me have listeners from. Kuwait. Certainly doesn't surprise me of listeners Virgin Islands, but it does surprise me that we have listeners in Afghanistan and I only assume that the twenty one of you that are regular listeners Nath Ghanistan are probably forward deployed soldier. So as we always like to acknowledge, thank you for the service to our country. Now it gets even more interesting. Slovakia. Stephen Moore Slovakia's. Eastern Europe. Oh, you're just throwing spitballs. That's a safe bet. Probably Save Iceland Netherlands Nigeria Portugal Portugal's another country where ESPN realty just expanded. So that's great. Hungry. Let me find the smallest country. Okay. Romania. That's kind of I mean, it's not a small country but that's Kinda surprising Denmark we have listeners in Japan granted it's only four listeners but to the four hundred in Japan, get the word out get where Japanese listeners and maybe we'll see I know some Japanese. Actually. Remember it now can eat can meet you wa Wa assuming this. Guy Ohio I used to know a lot more Mongolia ready for this this is a big announcement we've we've expanded to. Mongolia. Here's my question with that. The Internet works there. Okay. Now you're just now you're saying I was telling you the other day. Sometimes we struggle with our Internet here I'm just like totally impressive listeners there. You're just being a hater Goya. Julian don't know what you're thinking. You've just. By the way, you've just pissed off the total three listeners on coy. The Aruba against some most of these don't surprise me but I'm trying to find another Mongolia so far wins Uruguay. We have two regular listeners, Uruguay. Lot, via. Oh, here's my favorite one. Ready. Morocco how cool is that and then we have one hundred and forty four this last one this is the reason I think we're talking about on our Sunday podcast, we might be talking about too many crazy things like aliens because the last one is categorized as unknown. In case. So if it knows that we have listeners in Latvian Mongolia, how can there be an how can there be unknown which millions I'm telling you that's right and there's one hundred and forty four regular unknowns. Wow for sure. How do you do that aliens? All right I'll take it very go. Total world domination and beyond. That's right. So anyway, we have officially, we've been international in this podcast for a long time and with our coaching company, but it is really enjoyable to see all over the world where we have people listening to us. So thank you guys for making this never listened to daily podcast. Dare I say in the world for real estate professionals I don't know I'm not feeling that in now and. It sounds good. That's right. So July, let's get back to our regular scheduled program. You know. Headlines I I mean the whole was it called plasma treatment potentially I think. So I'm Kovic. we'll wait and see and I think as with all headlines You have to read between the lines and understand what they're really talking about but I thought it was interesting because you know this is where they're calling for. Blood donations if you've had covered, you've gotten over it. You have the antibodies in blood. This is my understanding so feel free to supplement. Then you donate blood and that that is a treatment or potential treatment for people who have gotten it in that it's more effective in the early days of the ailment than waiting longer. But the good news is that this is something this is you know potentially effective and you know when I was reading about that I thought well, at least that's not something super radical. You know it's not like some new chemical that they've come up with that. We've got a test everybody. It reminded me of how babies get their antibodies from breast feeding and this is all relatively normal logical treatment. So I think that's a good headline. Last week with regards to housing. We were talking about how new construction shot up almost twenty three percent. I'm seeing that with coach and clients using new construction as the solution to the inventory issue and I hope to see that continue to increase. And then of course, we are still reporting I read something this morning I think housing wear that said you know searches and inquiries have you want to count that for suburban rural and semi rural outpacing searches for urban environments? So we`re kind of like a flip flopped world. So I, think that will always surprise me how fast people looked for an excuse to get out of the densely populated urban areas. The INO- you get you realized that that was a macro trend that had been going on since the industrial revolution I know and. it's interesting that those trends go back and forth rates. Did move to the city then they move out of the city. So just to think though the people start moving out of the countryside and they started moving to the city centers as a result of the industrial revolution, and now for the first time in a meaningful way, you're you're reversing and that's hundreds of years worth of trending. That's starting to reverse just because of the pandemic, which tells me there are a lot of people looking for an excuse to get out of the cities in the first place. Sure. I think that's right I mean if you look at all the facts, the costs and the hassles and all that kind of stuff. So that said, you know there's still some some bright spots things are still selling but I think that you've really gotTa Watch your pricing in all cases because as we reported on the Sunday showed in last week, it's not consistent everywhere. You can have a town with hot pockets and you can have you know places that nobody seems to live. So study your subject properties is something I've been talking to brokers a lot about. With their age struggling to price correctly now, because pricing matters more, we're getting more cut appraisals were getting confused buyers. How do you actually calms something when you don't know whether it was a cash deal that wasn't contingent on appraisal versus you know something that was that was maybe an fha deal that was very contention on of so stream that into something practical tackle than they need to be making sure that they're using the ultimate addendum. Premier coaching clients you cannot trust your lenders letter. You cannot trust anybody in telling you that the buyers cash and there's no inspections or reprisals. It's all pretty much more arche because at the end of the day, even the most locked in, you know no risk contract to your seller is still not worth a damn thing unless you've got a really locked in. The lenders letter because the buyer can always back out even if they violate every term of their contract, they back out and maybe they lose their earnest money maybe they don't but the moral the story is that What are you? GonNa? Do you know have your seller sue that buyer perform in a hot sellers market? No, you're not going to do that. You're going to let them go. So the best thing you can possibly do and this works on the buyer side as well when you guys are trying to get the listing agents to take you seriously if you want to have your unfair advantage, you need to be providing them no BS lenders letters. So our premier coaching members, this is not for Free, coaching program only available for the Pe- people that are in the Premier coaching program is that we have a pre written. It's called the ultimate. What is the actual time? Ultimate? And it goes through an essence on the like if you're a listing agent and you'll receive an offer from a buyer agent and everything looks good. You send that back over to them. Even if all the terms are acceptable and you give them not very much time to send over lenders letter that's got all the work already done the lenders letters reflecting three merged credit report verification houses. Right, it's forcing them into underwriting and that's when you can take lens lenders letter seriously, and that's when you can take that contract seriously otherwise, agents are just going to throw spitballs they're gonNA throw things that they know wants deck just to basically walk your property up, and then you know obviously be hurt your mark you're the marketing momentum of that particular property and on the flip side if you representing buyers if you WanNa have your offer go to the top of the stack, even if it's not the highest price that there's no. Better Way to do it then proved the potential that listing agent in that seller that you've got a real by or not just someone that's throwing spitballs like we said, severely, what you're talking about is the ultimate addendum accomplishes two things. One is it makes you much more competitive when you've actually done. If you're on the buyer side, you're so much more competitive when you have done the things on the ultimate addendum and you know what's interesting about this is that smart lenders who that buyer business are actually doing this now there's they're saying. Let's say that you are you. Everything's been checked your employment, your down payment, Verification Ratios your credit everything is set except maybe contingent on appraisal you know depending on how the? Town payment is. Putting. Enough money down they don't have to worry about appraisal. Identification of the property and that's it. Now here's the thing. The Lazy Lenders and possibly the Lazy Agents and certainly the clients because they don't know the difference, it's not the client's fault. They'll just do the boilerplate. Here's a lenders letter and Yep I submitted that why didn't I win the offer because it wasn't good enough you didn't show that you've actually dotted the is and crossed the TS. This is really important, and by the way, this is not having to go above and beyond this all has to happen anyway, this is your job happen faster rate. That's. It inserts the that's the one level. So you've got that. Then the second level is what you're actually in contract fear the listing agent. This is a great checklist, put him through the rigamarole and just see you know who is good for it and who is just sending you a BS boilerplate lender letter. So that's one thing. One of the things that are are coaching specially, our our Premier League coaching clients are doing is writing their own guide, what to do and what not to do when you're competing. For to educate buyers, right. So don't ask me to write a contract if you haven't talked to a lender yet you're GONNA lose this. Don't even you know why would we even look you're going to lose so they talk about things like that. They talk about you know expect that you're not going to. Necessarily have a secondary negotiation when you`re So. Here's here's a case in point K buyers getting contract. They quote guaranteed the appraisal not thinking they're going to have to make up the difference and they're going to beat on the seller during inspections or appraisal, and then that doesn't happen and they get mad they have to pay higher. Well. So but ultimately, this goes back to the fact that like again, our premier coaching members, we give them prior presentation that they're supposed to us when they're. Initially working with that buyer, explain the buyer the whole process, but ultimately get that buyer sign of by our agency contract and be contractually obligated to work with that agent, and that's something were huge advocates up and it really does ultimately is it sorts out? It makes it so that the buyers who aren't actually serious or not going to sign it. And you're not gonNA waste your time. 'cause why wouldn't somebody sign it because there's something wrong they're nervous they know something or you double agents whatever or you haven't done a good enough job explained to them why they'd want to work exclusively with you. Right some of you guys have some sort of objection to the idea of asking a buyer to be. Obligated to you that's fine. Give them a risk reversal and it makes so that if for any reason or one hundred percent satisfied, they can fire you with no strings attached with maybe seven days notice or something like that. But that does not That does not exclude them from having to pay you in the event that they are to purchase any. Of the properties that you introduce them to. So I'm not suggesting you sign yourself up to have you know you show Bisbo and then the physical somehow coordinates without buyer to cut you out. You know you stay in real estate long enough. You'll see that some bisbee very crafty that way but really it's the buyers initiating it not necessarily the fizz Bo. Buyers guaranteeing its in the bright of the buyer presentation that we teach in coaching. Right so more of the story is if you're going to be going into listing presentation user listing presentation, use a pre listing pack user prequalification scripts. Let us show you how. To actually win the listening guess what the same logic applies to the buyer side our industry. Again, this nonsensical approach to working with buyers that it's informal. Move forward, if you really want to differentiate yourself in the marketplace informal is your presentation to buyers. They'll take you more seriously just the very fact you have a formal presentation we'll make they'll wanna work with you because then they'll see that the other people that they were offering that there were basically considering working with work formal they were. Let's meet at starbucks and talk about dogs or whatever, where you guys are basically being formal and actually treating it like a business especially when you also hand him a document, this homework for coaching clients that says, this is how we win. This is what I expect from. You have a substantial earnest money deposit have. Actually gone through the lending process, be willing to compete be looking in a price range that's actually reasonable for you. Instead of hoping that you're going to beat somebody up on inspections. So they go through the list of how you actually win. This is all part of educating your by our clients. So that's all fine when you're in control of the buyers rate. So the ultimate addendum also protects the listing agent because it's not always you're right. Sometimes you're dealing with some random age that doesn't know all this stuff you know and because they were the highest bid now you're in contract with them. You're talking about the you're talking about the ultimate Denham yeah. On the other side of the buyer's agent. Exactly. So. If you guys think about all the places in. The. Deals fall apart where you have a needed stress. We're all the drama creeps in all those places are you know basically danger vectors or hazard? WHERE'S THE ON COLUMN? A hazard hazard rate. So if you go through it and you think of all the places you've experienced drama so far in your allstate business wherever the drama crept in that's where your system or you are weak weak on skills your system was week. That's why our coaching program it essentially has plugged the holes. So we eliminate the system eliminates the drum or lessens the likelihood of the drama agents love drums you guys know. So what we're ultimately trying to do is make it so that your process go smoother. Not, just for you but also for your buyers, your sellers if you WanNa know how to build a scalable duplicative real estate practice. That's how you do it. You got to build around systems that are designed to make the process, go smoother and easier for everyone, and if you've not done a billion transactions or if you've not had a billion coaching calls with billion agents all over the country and all different markets and different market conditions. How can you possibly ever think that you're gonNA. Somehow, weaved together your own. Real. Estate System. It doesn't make any sense especially on the sales into things. You Know Juliette was getting every morning I. Always have a bunch I don't generally speaking I. Try not to work too much on Sunday but both Saturday and Sunday. So I always have a big bunch of emails and texts that I have to catch up on Monday and it's funny when I get a new cash listener I always know their new when they'll text me and they'll say they'll ask me about setting up a funnel or paper Aker all this stuff and you know what clash should I take? And all this and I it's just bewildering to me because the amount of time in this is for all of you guys look I think all the online lead generation portals have a place I do I think the team conversation has a place branding has a place marketing has a place websites have a place all that stuff. There is a time when those things make sense for your business. But what all of you guys do is you do them in the wrong order what ninety nine percent of you do and you do this because frankly you're being told to do it this way. By. People that frankly will probably never that successful Saudi in real estate the way you're supposed to build any successful business or building. If you WANNA use a building analogy is the foundation has to be rock solid. The foundation itself has to be built on skills. The foundation has to be built on practices that work no matter what the market condition is and what, and again, it has the skills part of it is what you guys tried to avoid and the because there's an. Involved because there's actual work involved because there's hours and hours of doing what you don't want to do when you don't WanNa do it involved and what you'll discover Is the more time you waste trying to learn master some online lead generation gimmick the less likely you are to make any money. You have actually been fooled into believing that spending time trying to figure out how to run great pay per click ads on facebook or whatever. You're actually believing that that's real work and it's not. So here's the just the bottom line cut through the Mickey Mouse way of sort of reframing your. Mindset about lead acquisition first of all leads are ubiquitous. Every leads worth nothing leads have no value and yet you guys pay billions of dollars to buy leads from likes of Zone and whatnot but leads have really an inherently no value prequalified lead has value, and so what do you guys do you never actually learn to generate your own leads? You're dependent and other people to generate leads for you and it gets even worse. Now. You're using other people to than to prequalify your elites for you. So you've never actually learn how to do the real work of real estate. You rationalize it and again I know where it comes from people tell you that while you're supposed to delegate everything you're supposed to be focusing on working with buyers or sellers or you know. But what do you guys do the real work of estate you never get around to? Learning you never learn how to lead generate. You never learned how to pick up the phone you never learn how to prequalify. You just basically are focusing on things that maybe one day you can focus on all the easy stuff, the mental masturbation stuff of real estate but you're never doing you never learned to master of the real work. Some people call the basics and I'm okay with that it is the basics of raw states. Predictable and it's duplicative rate just harder than quote trying out some of this other stuff that's thrown at them all the time. Right. So it's a lot easier to pony up your credit card and say, well, maybe this is my lead generation solution and I'll do this online things. Yeah. Goes versus actually you know like calling chooser predictable duplicate source and getting results because in one way makes you feel a little bit funny might be a little bit. You might get a little rejected now and then Yup and the other way you just wait. And Hope for the best. So if you guys have a choice between spending your time in your money learning how to build funnels that will never actually work in the rules to how to make funds work changes about every thirty days right online lead generation. So you buy leads in bye-bye are leads in particular. You're always going to be beholden to the ebbs and flows of somebody changing moving the cheese as it were changing the rules whether the systems will or won't work that does not make any sense. So if you actually are serious about Your Business and you have a choice between Colin from a list of sellers have their hands up in the air right now saying yes. I want to sell my house and will require you making yourself uncomfortable. Until you've learned how to do, it will require you picking up the phone real require you having conversations and might result in getting rejected it will require you doing the real work of real estate but once you do it, what you're going to discover, it's easier than you thought it's massively less competitive than you thought because everybody else runs for the easy exits and they do all the paid garbage rate. So all the myths that you've been sold to believe that there's everyone that's chasing expires, for example, it's absolutely not true titan them about to go to premiere I guarantee you on. Today's American coaching call on here. And stories it sound just like that. Yeah. You're not gonNA believe they always start that way. Right? You're going to believe it. I called only three expires I've already got a listing appointment a followup. It's like well, yes. They have a house to sell you do what for? Don't you think you should talk to each other like the for sale by owner you know their phone number is there. It's like the number one complaint that all I can't find phone numbers how about you call somebody that's handing it to you and has a house to sell you sell houses for a living just as a couple of examples right guarantee I'm about to hear from that from the agents who are willing to stick their neck out and do the real work force versus pride of the Real Estate God's at the impressions will rain down upon them and somebody will raise their hands at their ready. Well, why do eighty five percent of all roast agents fail? Within, eighteen months of getting the real estate license this because they never learned to do the real work of real estate and they're always chasing the bright lights. Here. All right Julie soft premier. League. Your podcasting studio. So you guys make sure you're attending the Premiere coaching session every single day live on. Then you can ask Julie Questions Now remember the Premier coaching session is. If you're in the free coaching program, you can actually attend the daily semi private. Coaching call. Tuesday's. Monday Tuesday Wednesday is Julie runs at herself and all you gotTA. Do. If you want to join the free coaching program, it's just text the word survival two, three, one, nine, six, text, the word survival two, three, one, nine, hundred, sixty you can be in the Free Coaching Program Interact directly with Julie Now obviously the free coaching program as a whisper of what normal coaching program is but the very least it's going to get you guys going the right direction. So if you want to join the free coaching program just text the word survival two, three, one, nine, nine, six. Around the bend on today's Podcast, and this is again a summary answer for all the emails I've been getting from all of you guys who are longtime listeners supporters of the movement that July. Unofficially started where we're trying to return the sanity to real estate and all of you guys realize that you are in the right place at the right time. This is a blessed industry to participate in, and if you do the right things, which is basically being of service to other people focusing on that is being your core driver, your North Star as how can I help other people have service other people once you live by that then you're GonNa realize on the other side of that once you accepted that's my you're my you're my rate highest and truest purpose. Then you're going to want to focus all your energies on how you can be of service. To them, you guys have all been sold into believing. You're supposed to be spending your money and your time doing paid lead generation. It is a mistake it always has been in a steak and always will be a mistake. It is what it is. Ultimately, it's something that's not sustainable because the rules change all the time and then you're basically back never actually having created any real skills because you're dependent on just whatever the the latest Gimmick is whereas if you actually take the time and you learn to real skills yes. Their sales skills, but you learn the real skills of real estate. Then guess what you guys your Skill Sets Portable I have had coaching. Over the past forever fitted then able to easily and effortlessly move from one market to another because their skills reportable they weren't dependent on paid leave generation. They weren't depending on geographic for them. They weren't depending on senators have influenced and clients primarily they were able to move from Michigan or Ohio. Let's say and they got sick winters down to Florida or North Carolina or someplace where they don't have such. Stark weather contrast because they're sick of it right. There's a lot of you guys were thinking about that now. Well, you were based if your business and your lead generation was based on proactively generation, you could lead or we have a lot of other people that live in multiple places in the country in they'll go to someplace. That's you know not cold in the winter and they'll be re starter real. Estate practice in that other state or the other part of their state and do great because of the fact that they have the the set this required to be a proactively generator. Why are you guys waiting just because we're asking you to do some work just because we're asking to do what you don't want to do and you don't want to do at the highest level that is the answer, right? Well if you don't do what you don't want to do when you don't want to do at the highest level if you aren't willing to make yourself a little uncomfortable occasionally, if you're not actually willing to learn how to do the work of real estate, where does that leave you beholden to buying leads beholden to basically hoping and praying the whatever gimmick you learned last week we'll still work this week. The tech companies changed the rules all the time. So why would you ever put yourself in a position where you're always going to be on your heels looking for the latest Gimmick because you're fearful of rejection that's why don't you guys understand? It's just that one little psychological. The road that's preventing you from actually building a long term sustainable, amazing real estate practice because you're so focused in your mind subconsciously of looking for gimmicks because you think it's GonNa, it's going to make your path easier. It's not it makes your path harder. It makes you have to do more work and makes you have to compete in more different areas. You know all these social stuff. So many agents, low-skilled agents rushed to that stuff because there's no rejection because it's fun because they. Can fool themselves into thinking they're working and yet eighteen months from now they're out of the business listen to what your coach or maybe Jillian I and our coaching company or your future coaches. We are going to continue to tell you the truth even though in many cases, it's not popular even though in many cases, the people selling all the you know paid lead generation gimmicks they don't like us. I know they don't I read sometimes what they say, but we're going to continue to say. Because we know it's the truth and I know that they know it's the truth and buy them trying to basically hold us out in some negative way they're threatened by what we're saying because they're fearful that all the sudden if you guys listen to us and you actually listen to us the, you're not going to be so susceptible to buying the latest shiny object which their businesses predicated on you being seduced into believing will work. You guys understand. That's what we're doing for you. It's up. For it's up to you to decide what you're going to do with that information. Look guys are highest and truest purpose just like yours is is to be of service to other people the people that we primarily choose to be a service to professionally are all of you. Thank you for making this and continuing to make this the number one listened to daily podcast at least in the United, states thank you for making book. Aris rules continued to be one of the best real estate book. Sellers of all times it's on Amazon Barnes and noble. Like Barnes and noble, but the fact is is. Are. Those. Even open again I don't know any bookstores. We've seen it for sale on airports just pick up the book you're GonNa love it. It really does give you a market proof guide on how to build and scale. You'll real estate practice it's a perfect complementary introduction to our coaching program if you guys need me for anything at any time feel free to text me directly at five one, two, seven, five, eight, Oh, two, oh, six, five, one, two, seven, five, eight Oh Two Oh six in the meantime you guys are fantastic day we'll talk you on the show anytime. You can listen to our podcast and replay on spotify is now available on audible. It's now available obviously and I tunes on Stitcher on. There's like twenty different places you guys listen to the show do continue to let it get the word out about our podcast. I know that's the reason it's the word is spreading. So quick is because so many of you guys are sharing it. I subscribe to the podcast on Itunes that actually helps us. Itunes them because Algorithm they have then tells more people about it. You know it's one of those deals. So please do subscribe to the podcast on Itunes to consider giving us a five star review. Help US guys to live our lives mission and we'll help you to continue to live yours you guys. Fantastic Day will talk on the show anytime. This program has been presentation by Tim and Julie Harris Real Estate Coaching for more information on the real estate coaching and training programs visit our website at Tim and Julie Harris Dot Com. Remember remembered tune weekdays at noon for upcoming shows until next time. Thank you for listening to Real. Estate Coaching. Radio with Tampa Julie. Harris.

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Why Tim and Julie Harris Joined eXp Realty | Sunday Debrief

Real Estate Coaching Radio

1:08:47 hr | 1 year ago

Why Tim and Julie Harris Joined eXp Realty | Sunday Debrief

"One two three we are alive. Welcome back. This is another Sunday debrief at the beach with Tim. And Julie Harris just a warning role of you this is not our normal podcasting format. We are literally sitting at the beach looking at the ocean here in Puerto Rico. As a lot of you know we live here and this is a tradition that joy. I have been doing for almost thirty years that we've been married. We always debrief once a week and Yeah so we're going to do is have you guys start joining us for those debriefs. We did our first live one last week. We're not going to edit this. We're not going to worry about background. Noise is some kids. Come screaming by. You're just GonNa have to hear him scream by flocks of parrots. Barrett's could be anything just never know you never know and just as we sit here. It's it's so funny Jillian. I just leaning against a wall here looking out at the ocean and no matter what stressful things or you know. Anything was bouncing brain just being here so relaxing. It's amazing so what we're GonNa do this week. We last week. We just sort of talked about a variety of things. Sort of centered around why we moved to Puerto Rico to beginning a lot of calls about that But what we're GONNA do. We're GonNa talk about something else that has become somewhat controversial amongst many of our podcast listeners. And that is our overt support of XP realty. And I know some of you are completely and totally. Had this thing in your head about hearing information that might be countered to your sets of Your belief structure in other words. You think what you think. And that's at you're never gonNA think differently and And I have to tell you I felt the same way. So we're GONNA start off by telling you guys a story and how are aligned with the XP actually came to pass. And GonNa Julie. If I say this wrong shirt looking at it me okay. All right. So they had been pursuing E. X. P. had been pursuing us for about six years and xp you guys may or may not know this but something like six years ago they had less than a thousand agents and now the X. P. is adding just literally thousands of agents every single month there On track to be the world's largest real estate broker than an international company now I'm using a they're opposed to we but the XP has an international company. Now Canada Australia England obviously licensed in all fifty states. Parts of the Caribbean are on the slate. I've heard somebody mentioned parts of Africa. I mean all kinds of things expansion plans everywhere because what he has done essentially as created pretty much the best of the best real estate brokerage experienced agent could ever possibly imagine in. Its for a lot of reasons. You wouldn't have expected that would ever be offered through a real estate broker. So we're GonNa talk about this things today but I I vote for those of you who are skeptics. Because Julie Definitely on the skeptical side of things life has taught us to be moving to tell your story about how we really struggled. Painfully struggled to open our minds to aligning with. Espn really any brokerage. It all starts out with the idea that with become one of the most Successful popular coaching programs in the nation. Because the fact that we've been well at least we perceived us because we are broker agnostic in other words the brokers. You know we do. We didn't WANNA make any. We did want to ask agents or suggest agents. They choose one broker over another. Have any sort of preferences or anything like that. But the reality of it was as we were doing this. We're just being lazy and we weren't really staying true to our mission which was saying and doing the things are best per oliver. Xp I'm sorry PODCAST LISTENERS. And coaching clients and the people that have called for decades so when an agent would ask us or even a broker would ask ask a switch company they should be aligned with. We always give the lame answer which everyone's the closest in the end. The truth is this for years. That's really that was the only differentiator there was no real compelling reason. Why one broker was that much better than another broker. Just they all were sort of the same offering the same offerings commissions but sort of just doing the same exact. You know suite of services. Some say they're offering leads others would have different. Crm's but for the most part what's happened in the time that I had been real estate and those of you who are also grizzled veterans concur. That the brand does not matter nobody. Nobody cares consumers. Do not choose a real estate agent Because of the brand they don't and what I mean by that new agents are going to start with this. The most is after you've been in the business for maybe six months or a year and you've done some deals you're gonna see the what people do. Is they searched you out and they will never ask what company you're with and if you think the company brand is what's going to get you the business you're wrong ultimately it's going to be what you as an individual real estate practitioner can do for that buyer seller. That's going to get you the business. Let's for the sake of conversation. Just assume what I said is true because by the way it is so July were Pursued by ESP for years and we always said no for the reasons I stated and then it was April of two thousand eighteen. I'll never forget this as April two thousand eighteen. I had within one day like six panicked calls from real estate brokers and office managers. And all asking me about the XP and knew the cursory. I only had a cursory understanding of it. I didn't I wasn't literate on what they're offering more importantly it wasn't littered on why they were growing so fast. And they're sucking the life out of so many rotate brokerages around the country. So what I did is I said let me find out and then I did some homework and what I did is I went and called some of the most influential people in by influential. I don't mean necessarily famous. I don't mean like influential in terms of the people that I personally trust and when they say something I just. I don't have to look for hidden agenda when they're answering my question. These are people that are essentially past CEOS alario estate brokerages are people that are without getting into details. I don't I mostly people that we've known for years and have a track record of thinking straight and being drew and trustworthy. You know right. But some of them wouldn't want Their companies to know that they were giving Juliana advice because it would seem to be in conflict with what they're all at that particular company. We'll just say that okay. So we pulled a bunch of different people that we trusted had conversations and I never forget this last conversation I had with a former. Ceo of Keller Williams on the call. I was asking him about X. P. And just all the normal things just trying to get his take on it because I trusted him and he's actually sort of laughed at me. And this is not the jovial sort of person that would normally laugh at you know a serious question and then he basically called. Us fools from ever having not already having been involved with XP Day. Which I thought was awesome so because it cut right through our resistance to it and then what happened is he helped us to meet with pretty much the biggest decision makers in the company and we sat in a closed door room and we sort of hashed out with Jillian. I wanted what we're worried about. Just everything that you know working through all of our fierce basically most of which were not really justified about aligning with the XP and it didn't take long for us then to realize that okay. Well this makes sense from a business perspective. Now let's talk about from an agent's perspective because it wasn't getting it didn't mean enough to us that just from a personal financial gain perspective that we are going to do it because we get offers all the time that would line our pockets to do. All kinds of endorsement deals and things like that especially from those people selling investment stuff people who are in the investment realm. They email is probably three to six times a day. Trying to get on our podcast trying to get access to all of you guys and we're just not going to do it. So if you're an investment guru and you just wrote a book or you WanNa talk about how you went from zero to billions and side thirty six months and you want to share your secret system. Don't email me. You're never going to go on podcast. You're just not But that aside I did trust the information I heard but I just wanted to make sure that it was the best thing for agents because if we betrayed you guys than we were shed. What's the point of essentially anything if we if you guys can't trust us so way we then went anonymous late to two different. Espn events were happening In and around taxes and both times the first time I thought the experience I didn't understand why it felt so different than a normal roasted experience. And what Jillian I did. It wasn't a huge room. Maybe five hundred agents was it. Five hundred probably right about that well. So Julie's sat on one side of the room and I sat on the other and again no name tags. Nothing like that. We didn't really do anything to draw attention to ourselves. We weren't speakers we weren't on a panel. We were just flat out observing rate and Then she and I were comparing notes from talking to the different people around us. Nobody was giving us a answer that was supposed to be. You know trying to manipulate us one or the other weird there ten days and what we experienced from just talking to normal. Joe's Josephine's was what really changed everything in terms of what we had have. Now come to expect from allstate brokerage and I'll tell you specifically what I observed happiness and a sense of financial security that we have never since ever inside any sort of real estate brokerage inside most real estate brokerages in meetings like I'm describing its competitiveness. It's ego it's you know who's got the most. This isn't the most that's just all this crap and it doesn't have anything to do with agents becoming rich enrich just to give you a sanitized translation of what that means is simply where your money works for you and you no longer have to work for your money so our aim was basically to make it so that When we if we chose to actually line with the XP we want to know what it was like from an agent's perspective to really have a clear sense of the value that would bring to You know to agents and so again. We interviewed these different agents. Julia talked about some of the experiences you had well. I observed again. We weren't sitting next to each other sharing notes at the time. But we came away with a lot of the same Rations of agents being really supportive of each other really enthusiastic for each other. Celebrating their successes. Instead of you know who's out to get who and WHO's cheating the system and you know all that kind of little sort of eighth grade stuff that sometimes goes on. These guys were like genuinely enthusiastic. I remember one of the most impactful things for me at that event was watching some of the interviews with agents who had achieved a very consistent income what. Xp has to offer okay. But it wasn't like a gazillion dollars a month. It was the impact that three or five thousand dollars consistently consistently talking about revenue shares. But the point you know. What's the struggle for most agencies? Feast and famine. You have a big month of closings. Then you started death next month and you get your tax bill and you do it all over again. These guys were ecstatic to have what would equal maybe one or two closings consistently coming in. Not just for this year for the rest of their lives and I just thought you know what that brings me back to when we were getting started in real estate and having some of those months where you were freaking out and what piece it brought these guys talk about it. That's awesome. That's really what was the the. That's what got me over. The Hump to is because when you're talking to normal agents and they're making and this is from revenue-sharing we're GonNa talk about this in a second guys we're not going to get into the weeds percentages if if you want that information there's a great video you could get just text. The Word E. X. P. Two three one nine nine six text the word. Espn two three one. Nine nine six. And then there's a video that will explain all the particular analytical drill downs on the things we're talking about I only went. I want to talk about this from our perspective. But also from the perspective of the people have gotten to know in the past year since we've been aligned with the XP what Julie's describing is an essence agents who no longer had the financial monkey on their back because of the fact that they create residual income through the revenue share program that ESPN uniquely offers on. And this is something again. I didn't completely understand all this enjoying I started working with the expe- It took me a few months to figure it out but I'll tell you one thing that I wish I'd understand Understood before we really launched was the difference the real powerful difference between revenue share and profit share. And I'm GonNa give you guys the bottom line on that one so when it with xp when you receive let's say you Helped you tracked in the agency. Xp and then that agent ends up attracting a few people you're going to get revenue share all the transactions as agents do and there then can then bring in folks and then you're GonNa grow and again we can get drilled on that in a second but what happens is is the revenue share. Is You get shared a percent of the revenue they bring into the company off the top whereas profit share is your sharing whatever's left in that particular office assuming there's anything left in that particular office which obviously there usually isn't in most for example you know won't mention any brands but most people inside the couple of companies that profit share. They aren't making any profit share because there's no profit to share because the profit that would have otherwise been shared back to the agents is getting spent on new carpet copiers. It has any agents have no control over that. That's just how it's going to be right and esp one of the things that Glenn Kinda thought up was genius was hey why don't we share off the top oppose sharing the bottom so agents can actually see the direct benefit of attracting other agency. Xp So we were. We understood how that would benefit Jillian. I for us. It's a no brainer rate. But we weren't GonNa do it unless we saw it actually involve ourselves with the XP do unless we actually saw the benefit to agents From a real root base level and we did and that's what changed for me. That was that was a revelation now. Here's how stubborn I am this first event. I just told you about was in. Where was it new whereas in Texas in Texas south of Austin? I remember I remember? It was pretty anyway. We're we're driving back up thirty five and Julia was like she didn't want to say I'm convinced you know. But she's I started saying. I still had my reservations because my mind was telling myself well if we go in align ourselves with this particular brokerage where some Haugen alienate our potential for you know to Help People Journey coaching program or podcast listeners. Are PEOPLE PURCHASING OUR BOOK? That's where my mind went and then Joey hit me with a question that's wasn't exactly at but basically it was the question she said you really truly believe are higher sensuous purpose our businesses being of service agents and. Yeah that is definitely what I believe. And she goes well. Aren't you a hypocrite? If you believe he expe- is the best thing for agents and you think our highest and truest purposes being of service to agents. And you don't tell them about ESP. Well that's that was what was going through my head. Is You know we talk about spokes in the wheel having multiple sources of income watching your Prophet. You know that your product is profit and and you know we talk about this. Every day on the podcasts everyday and coaching and now we find out about this ESP model which has all of those things going for it and knowing about it. We don't tell them. How out of integrity is that exactly and so it made me feel icky so by the time we got back home Juliet Help Gillian. Few texts To different people and we decided that we were going to We're GONNA commit and we did and we have and it's really worked out to be something exceptional in being online the past. Now it's going to be over a year and I don't know when you're gonNA listen to this particular podcasts sometime in the future I imagine but we. We established our revenue. Share Group is called Libertas. established two thousand eighteen. That's the name of it. You don't need to know what a revenue share group is but in essence with it is is a group of people who we are attracting to be partners in the quest for Libertas and Libertas Latin for the word freedom. That seems to be in alignment with everyone's ultimate goal. Isn't it freedom freedom so that's what Libertas? So we're going to go through and Jillian were just writing down prior to me hitting record all the Normal questions that we get about the X. P. again this isn't going to be a drill down analytical sort of you know spreadsheet analysis of it. What we what you're GonNa do is definitely text. The Word E. X. P. Three one nine nine six text the word esp two three one nine nine six. So I'll tell you how we got started. Here's the basic premise. We wanted to four a revenue share group or team with an X. P. That was going to be light. Like-mindedness goals for the betterment of agents in particular which is in perfect alignment with the expertise Essentially their mission as well which again is in alignment with. Ours is a coaching Company and just Julius people so we wanted to can perpetuate that into our revenue share group. Eat there's probably five or six dominant. Prominent revenue share groups all revenue share. Group is basically. You know like I'll give you an example jean-frederic. He started with the X. P. Five years ago when they had eight hundred agents and now I don't know thirty thousand thirty five forty thousand. I don't even know how many agents or DX P. now but jeans revenue share group now as well over ten thousand agents. Okay so that just as for example and we're going to get into the weeds again specifically what this means. And then there's other great people out of revenue share groups to Branko a a great revenue share group J kinder- As a great revenue share group. And they all basically are building within the X. P. The essentially these revenue share group teams with the idea that they're going to then Help the agents that joined into them basically be successful sponsoring agents but also role state right so Our revenue share group in particular was designed to attract other folks that were already successful in real estate as well as new agents so what? We've created our several Dan just joining with us. And if you want to learn more about that you can actually text me directly at five one. Two seven five eight. Oh Two oh six five one two five eight. Oh Two oh six. But as a result of our original mission with our revenue called Libertas we have attracted some amazing talent and Just really top. Trainers top coaches former C. E. O.'s. Just some real brand name. People are joining Libertas Libertas because they like the nature of what we're doing and how we're doing it If you think you might be a good fit for us please do consider giving me a direct taxed at five one to some five eight. Oh Two oh six. We're going to get into more detail on these things in a second all right so we decided these questions down in a random order. The first question Julie is actually covered in video. So when you guys the first question where you're downs had a commission splits work but the way for you to find that out is basically just text the word. Xp The three one nine nine six text the word xp the three one nine six But the gist of it is is. There's a sixteen thousand dollar CAP. Your on eighty twenty split until you hit sixteen thousand dollars then after that. There's another program which is unbelievably cool. Which I wish they had when Julian girl state called icon and the ICON program awards Getting knowledge is agents that outperform the average agent so once you head icon when you sell them additional twenty houses or have a total. Gti five hundred grand. You actually have the opportunity to get your cap back in the form of ESP stock which is pretty exceptional so again a lot of things that he ex piece doing When Glenn Sanford put the concepts together he clearly was having the best interest of the agent at really core focus. Just I mentioned. Jillian mentioned a couple of things three things actually so you have advantageous commission splits with a relatively modest cap. You have the ability to earn money passably through revenue share and now for those of you who outperformed the averages you also have the opportunity to get your cat. Back in the form of ESP stock and that means that you are an owner of the X. P. When you are awarded XP stock and you are for a variety of reasons again. Watch THAT VIDEO. Text the word. Espn two three one. Nine nine six. You're going to see all the different ways that you are given expe- stock Since I started with the XP we are we have between the shares that we've purchased in the shares that we're awarded we have five or six thousand shares of the X. P. I. So it's something that we really believe in because we could see this direction. This company is going to be dominating all the other real estate Models not just because of any particular like it's because it's what's best for agents and agents all wake up eventually and say why am I paying as much money and commission splits? What's support am I getting? But really what the real and you know. We used to talk about this to that. So what would you lean? I? We're GONNA do. A slight pivot. Seem depressing at first. And then we're GONNA get into the weeds so just stay with us. Okay so Jillian. I've been coaching agents forever We got into real estate. When we're early twenties we sold over one hundred houses. Yes that's real our first year in business and no. It wasn't a subdivision. This is one house at a time. We had a whole bunch of awards and accolades and we are with Remax at the time. Now one of our original missions that Julian I had was to basically have a bunch enough paid off rental properties that one day we would be able to live off our cash flow rich where your money works for you and you no longer work for your money. Well we accomplish that goal by the time I was forty one and Julie was forty and we basically had the notion that we were going to basically retire so we tried it for. Maybe eighteen months found out. It was massively boring and So we basically drill down and took coaching to the next level. But here's why am I telling you that because you need to know that July have sold real estate before we sold for about ten years of between one hundred and two hundred houses a year every single year? But what you gotta understand is. We've walked in your shoes. So we understand It's like to be an agent. Now listen to what we did. Julian I have accumulated dozens of rental properties. Almost all of them are paid off all almost all of them. We pay cash for it. We didn't even take mortgages out and know these aren't crap boxes on the edge of town. These are really nice houses and really nice A and B markets and We have a whole bunch of in dozens and dozens of single family houses central Ohio North Carolina. People always ask where we ever properties. You know Las Vegas Texas Texas. Yep and we're GONNA be buying some in Indiana probably But here's the story nortre for us to accomplish the goal by the time of that age We had to the average price. We paid for each rental property. Was what you think. Probably a hundred and thirty hundred and forty probably. Yeah so we had to save up that amount of money. Yes we had to save up that amount of money Every single time to pay cash for a rental now why did we not want to get a mortgage on a rental Because we had seen people who basically over leveraged themselves and if there if you're a commission based sales person as all of you are then if you have a bunch of rental properties if you have a bunch of vacancies or if you have rental properties and our particular town where the employment rate increases or just all kinds of extremist things that could happen adversely affect your ability to pay rents. Then you have to cover that rent. You're going to have to cover that negative cash flow in our minds. There was no point in US. Getting to the point. There was no point in US. Getting to the point. Where forty if we just had you know thirty or forty individuals small mortgages that we are always basically having to deal with taking from the positive cash flow to cover the negative cash flow so now the only expense we have against all the three of our rental properties is basically. Actually it's four four mortgages. Yeah all but four of our rental properties is the property tax and the some. Hoa stuffed a little bit of property management on some of them. But it's it's basically you know except for taxes basically in clear Yup and so we have on average were making about a thousand dollars per rental property. So I'll give you guys the actual numbers. So after almost thirty years of buying rental properties for cash we basically are making usually around twenty five to thirty thousand dollars a month in positive cash flow from rental properties. That's assuming everything's rented out. No roofs are leaking and know pipes are busting and kind of make it sound like we just write a check and that was it for you mean. Here's the thing here's what I remember and I know you do too. But I don't want them to think it's oversimplified that you know we. We sold one hundred houses. Here's the money no work that took to solve the houses to make all that money to stay up on your normal income tax to cover the repairs to go back and forth fifty million times get it. L. Rented out. It was a lot remains. I mean they're still working. Vote Today on managing those. But it's you know it took years and many many many home sold to get to that point. That's right and so again. I took US thirty years. We would always have a goal of buying so many rental properties per year for cash so we would save up the money from real estate transactions. We had nobody passes up Lakefront Bunch of change. I'm still waiting for that to happen. Ed McMahon never knocked on her door. We never ran the McDonald's monopoly. In the beginning ten people especially in the Premier Coaching Program will opt and ask you know when. You're a newer agent. How'd you get started with that? We did some pretty creative things with like the guaranteed home sale stuff like that so you know we got craftier over the years but still a lot of work involved. We did so we really was involved as a crap on a sacrifice. That's what was really involved. We had two for thirty years for us to accomplish that goal of being financially free. We live under our way under our financial means and we could have been living so much higher on the hard taking so many more vacations we could have done so much more it with our just fun money will be shared a car for a while. We had student loans to pay off in which we did. We vacationed in Florida instead of Paris for quite a few years you know if we had vacations at all yeah exactly yeah really. It was mostly forced vacations when they're blizzards and we could still get out of the airports right. Well but so. Why are we telling this to do it? Our Way was really frigging hard. And if you're a normal JOE JOE or Josephine like Julia and I were when we got married where dirt poor and I don't want to really you know and grandma and GRANDPA Word ingrained July's in grand diamond and grey. Nuts can't say okay. Well I'm not trying to basically beat her own drums. Yeah but the moral of the story is is that we're Grainger's and bootstrap irs just like many that really. The point is also that there was not a model like xp distance. I mean K. W. wasn't even in existence ray much of our careers there. There was not this model rate and remax agents for a long time. Because you know we're trying to get our net going but it just didn't exist. I think about our lives would have been different. Had we had that opportunity back then even halfway into her career much less in the beginning would have been a completely different trajectory. I I'd have to do the mass to figure out. You know how many houses it takes at what rental. For how many years to equal what you can accomplish expire in like six months or less in some cases depending on what your goal is all right. Well so think of it like this joy dance because some people are thinking that same thing jack rest of by one rental property we had to have a Gross Commission before taxes and expenses of probably about one hundred and seventy one hundred eighty thousand dollars and then what we would do is. We'd typically keep ourselves in contract or under the gun to save the money to pay rental property. We often times try to buy your own listings and do things like that. Create CREATE MONEY OUT OF COMMISSION. And you know maybe we that kind of thing so we are very crafty when we were getting started to really build up our portfolios fast as we could and many of you should do the same thing by the way. But here's here's the bitter truth to reason. I'm telling you this is because when I look back and I'm I'm I'm forty four next week. I'm really and we crap so I'm fifty next week. Evidently next week what is today. Oh my gosh. You're right that sucks. I guess it's better alternative. Send him chocolate or low carb but I guess it's better than the alternative alternative being you know you have no more birthdays to celebrate so Yeah well thanks for putting on TNT on the show here Joey Anyway. So had Julie. Nine not had the goal of being financially independent by buying rental properties forecast for the reasons I stated We would have had a hell of a lot more fun in the last thirty years. I'm not saying it's been bad or something I regret because it's really made us the people that we are today. So frankly you guys know. We're not bullshit and you listen to us. Every single day and Uvira podcasts news. You know you are involved in our coaching programs. Because you guys know where the real deal. We're not fakers kids that were born on third base and act like we had hit a homer like you right so but. Here's the better part of this. When I think about this I was in front of a group to aprils ago and I was telling the version of the story of shorter version. Sorry for those of you were already board but suck it up. It's got a good punch line And I actually started to shed a tear. I couldn't stop myself because I started thinking about. Just exactly what I'm saying because had July had to do it all over again here. I'll ask question listeners K. Julie so we had to do all over again when we buy would we by any rail properties. L L no no. We would stick with revenue share. He would we have even even in our formative years where we're still figuring a lot of stuff out. I'm pretty sure we would have pounced on that one. Yeah Yeah but that's the truth and like you know. Yeah there's other reasons. Rental Properties are great because you buy them for cash flow you by saying. Don't do that can still do that. And diversify yourself. That's a good idea but tim. It's also harder for them to do that than we were doing. It's very expensive. And they're much harder to find because the whole low inventory business well and there's institutional investors that by them and yeah much more competition. There used to be so. We're not saying don't do it. We're just seeing look at what your opportunities are and be realistic about how you want to spend your time and you know. I just think of these guys in the X. P. That had that sorted out. It's not just for like okay that worked out for this year this month like real estate commissions are. It's forever well. So they don't know what you're talking about their revenue so revenue share comes in basically automatically. You don't have to work for it. It's passive income. It's like the hypothetical big portfolio rental properties. Like we have. But what has happened in the past twelve months with our involvement in the ex P. R. E. S. P. Income is basically Eclipsing or thereabouts. The total net income. We make a rental properties. Every month and our rental properties altogether are worth aloke SHIT TON OF MONEY. But we can't sell the money's money jail because if we sell them we have to pay capital gains on it. So they're just gonNA stay there as an income spoke brought us again. Please be clear. For THE SAKE OF DIVERSIFICATION. It makes good sense deborah properties and make sense to have money in the stock market. We talk about all this our Our book but going manic like we did and buying rental properties. I don't I definitely wouldn't do it again if we have. The option of having revenue share 'cause revenue share is the. I've never seen anything like it. Honestly it's basically being born rich kid. It really is passive as you can once. You've done your attraction in once you understand the model. It is way more passive. It doesn't it doesn't require an age has warranty. Let's just put it that way. No no one's calling to say their pipes were frozen. So so what we're going to talk about. We're GONNA get into the weeds so hopefully we're covering things in a conversational manner. We're not it's not a former presentation. No powerpoint that's being used for this obviously If you guys want that more drill down information definitely text. The Word E. X. P. Two three one nine nine sex text the word two. Espn three nine nine six. Oh and that was a can of diet coke that you heard open up. A second ago was not a Joey Ninety. We don't drink beer number noise in the background. That really is the ocean here. My turn my mic rounds. You guys can hear it. Yep you literally as Sunday Sunday debrief at the beach all right. So let's talk a little bit more about These are some questions that when people are joining ex-pm to kind of go through some of these that are maybe a little bit more unique You know what all these are pretty basic though like a lot of agents when I'm talking to him about joining XP and they're trying to understand what they give up basically that's the questions are all based on. What do I get? But what do I lose? Most people operate a fear of awesome. I totally understand that. So they WANNA know if I moved from My current bricks and mortar location over the XP. What am I losing? Here's typically what they'll be concerned about depending on their level of sophistication honestly they'll be concerned about losing. No one's really cares about brand because everyone pretty much that sells any real estate knows that the brand doesn't matter because nobody asks but this that they ask about physical location. So let's talk about that I And this is so funny because I had this question. From brokers most often we have a ton of brokers that are joining our libertas group. Small medium. Large brokerages if you're interested in moving over to the X. P. definitely give me a call directly our text directly five one two seven five eight. Oh Two oh six. So the question is is. What support or agent question? What support will I get from my broker? If I don't have a physical location and the answer is more because usually the brokers not in the office anyway and most agents never go to the office remember Jillian. I sold real estate in. It's kind of a joke. That drive past roles office. And there's no cars in the parking lot and if you're it this isn't a joke. This is the truth. If you're spending a lotta time in your real estate office. Chances Are you're an unproductive agent. You're not selling any houses. You're not working appointments in the office. Because you're not going to be doing deals with agents in your office. I mean not in the traditional sense so agents who are fearful of losing an office when you ask them this question. I always ask. When is the last time you went into the office in the first place? Then they start to laugh in your life. That's kind of a silly question but if you do need physical Physical space you can actually Through Regis Office Centers you as an agent. You'll have the regis APP on your phone and if you WANNA use an office to meet somebody or even do work you just basically click the APP and tell them when you want what you need when you need it and you walk into Regis and it's included in your monthly re Xp So there's no added charges for that now. Some people have taken it to the next level and they actually rent permanent space inside. Regis. I know some people who have large teams who were worried about losing their team. Camaraderie or whatnot. Or they're you know those types of people who have really invested themselves in that and sometimes they have gone in rented former space. But really what you'll discover what the X. P. And this is what brokers discover. So if you're a brokering you're you've got the physical location. You think agents join your Brugger work with you. 'cause your physical location in your attached to emotionally what you'll discover as soon as agents joined the XP they're not ever going to go into the office or very rarely because X. P.'s. Online experience is unbelievably cool between XP world and workplace by Facebook and just the direct communication. You have with anybody like for example. Another common question is is how making a if I have a question or if I have a problem how am I gonNa get a hold of my broker. And that's easy. You get a hold your broker every state has at least one sometimes several brokers and you could communicate directly with your broker or you can go an X. P. World. I just did this the other day with somebody he go to XP world. You know you're an Avatar. You go to the upper left hand part of the screen you pull down. Broker conference rooms. You go to the broker conference rooms. Somebody literally an Avatar. A real human greet you and they say. What can I help you at? I'd like to meet with the agent or the broker that's in charge of in this particular case it was Beverly Hills California police weight and conference room one. I walked into the conference room. London this lovely lady named Laura just popped in. I had this nice conversation in. The whole thing was like three minutes. It's pretty awesome and it actually. I think is a lot more efficient. I'm thinking of some of our agents that are like Minnesota and Chicago and there's three feet of snow on the ground when she just rather log in the world than get in your car and drive through all that mess in the hopes that your broker will there you know. I think it's you know we talk about avatars and things like that but might send a little intimidating. Some of you but remember. What's Tim's birthday? Next week he can figure it out can figure it out. So can you but I I do. I think it's pretty cool. So are you saying because I didn't remember? It was my birthday next week if I can edit out anyone something like that. Oh that's nice all right so as a new agent. What kind of support? You'll will you get that and I love doing that question. Because it's stunning. How how focused they are really in every agent of every level of experience but new agents in particular you get assigned a local usually local mentor And that's it I mean for your first three transactions. Y'All mentor assigned to you. That again is a expert in your local market. The help you get started with all the meats the the nuts and the bolts and the university has daily. I see their schedule of their trainings. That they do every single day. There's trainings on how to use skype slope which you get as part of Your E. XP monthly fee. Howdy US K V Corps. Which is Great Lead Generation Platform? Which by the way Several of the people in Libertas who are using K v Corps are telling me that they get between forty and sixty leads per month from K V Corps. And they're not spending any money they're getting these leads for free and so Once you get inside and you're part of our Libertas group make sure you go and take. I think it's called making it rain. It's a cave core class. And they'll basically teach you all the buttons to push to make it so you start getting lead so if your broker situation now providing with Leeds. Xp's got you just make sure when you get into xp you take that class. I don't know anything more than what I've already told you. But definitely explore that with the core guys and I've been very impressed. Several of the key core executives and founders had been friends with for you know one of them would used to actually work for us and they're just really quality wonderful people and we'll spend as much time with you on the phone as you possibly need or more importantly and ESPN world showing. How do you how to use things so as far as the new age? You're not gonNA to ever feel neglected or like you're not getting as much personal attention as you want from your local mentor to the daily training to just really constant You go in the world. It's difficult to explain this unless you've ever seen it before but really when you go into ESPN world. There's so many different things going on meetings going on people that are gathering in gathering. They're all virtually from all over the United States Canada England Australia and soon globally where you could start sharing ideas but those of you who are a little bit more. You know mindful about opportunities. It's also a great way to get referrals. So for example if you know for you live in Texas and right now there's a big surge of people that are moving from California to Texas I would hop over to the Texas groups in facebook for example or on the XP world. And I'd make sure everyone knows who you are knows. You can work in these particular areas of Orange County or wherever and you start getting referrals that way. That's a really huge opportunity of untapped potential that And there's nobody in between it's not like He. Xp is trying to weasel referral fee. I get in between you. And the referring agent the you know it's Kinda Gross. What's happening in our industry referral fees? They've been agents are so paying thirty forty fifty percent crazy But you can work directly with the referring agent inside the XP in there's no middleman had a teams work. A lot of guys are in teams part of teams. Just long story. Short watched that video. Text the word. Espn two three one. Nine nine six but of course. Xp has got a state of the art system for teams on boarding teams and brokerages. Libertas our revenue share group We have been involved in. I'm not sure it's the most. But certainly an unbelievable outside number of brokerage small medium and large brokerage conversions. The person we work with to do those brokers conversions has been involved in the most for sure in the entire company. So if you're a broker and you're winning to move over to xp we've definitely got you covered in that regards. The first thing to do is. Let's have a confidential conversation and lear brokerage could just be a mom and pop can be an agent an office with a thousand agents or multiple offices. Let's see if the numbers work for you. First things to do for somebody like that is just detects me directly at five one two seven five eight. Oh Two oh six all right I'm GonNa talk about this. I Buy a program. Espn has got a really amazing IB program. A lot of you are living in fear of Zillow's and all these other companies that are you know buying Tori. Acids offering sellers option other than the traditional sales route. And without talking in we'll see about the business model on a whole because it's kind of dubious amount of money. Zillow loses per houses just ridiculous. But let's just set all that aside. Xp has its own IB program. But it's designed around the agent and here's how it works again a non expert at but I have people inside our revenue share group. That are doing justice. What I'm about to describe to you. Yes you have to take some classes on this. Yes you have to be certified but once you are you can start submitting houses to the buyer portal inside the XP the houses that you submit don't have to be listed by you or ESP that can be listening by listed by competing broker. So if you find a house that you think is a great house for a flipper and you're not winning. It don't have a local investor that wants to purchase it. You can load that house up through the EIBAR PORTAL ADDICTS PE- in if one of the investors that's the back end of the IB program decides to purchase the house. You get paid your commission. You get paid buyer's agent commission but that's not all when they're done you know putting the House back on the mark to put it back in the market you get the listing so you can load house up to the portal habit. Not You're listening and actually have And get paid a commission on that doesn't have to be with your broker or anything. Just be a house you've found for sale and we know people that are doing just that they took the classes. You have a coaching client. Does that don't you just talked about that? I I think a couple of them have done that understanding that model and I I think a couple of them are getting paid next month. I think that's seriously Crafty and interesting and better than what? Zillow doesn't better than offerpad. It's I mean it's another example of how agent centric they are. They're they're taking care of the agent. I so I think that's pretty cool. Yeah just another opportunity. I mean you could have stopped. Revenue share lower cap and stock and for most people. Honestly you could say you had to low. You could have stopped there. But there's so much more cool stuff You talked about some things for the newer agents. What if I'm a really established luxury? Hyon-tae agent is X. P. friendly towards that type of model I mean. I don't WANNA lose my brand that I've spent so much money on. That's actually exactly. Ask them and talk about next. Thanks to that question so they do have a luxury brand inside. Xp Fancy Logos and fancy stationery and fancy all of that but that in itself. Isn't that novel? Here's the thing that I really love that. Xp Some of you have really spent a lot of time energy and let's be honest money creating a brand inside your community. That's certainly the goal of anybody. They become successful now. Just my coaching hats. Gone for an ultra short second. Don't try to make yourself famous. Try to make the results you get for other people famous so in other words if you have if you think you can brand yourself to success you. Can't you have to actually earn that? And then went your brand in the local community and brand is a newer fancier kind of snotty your way of saying reputation in your wants your reputation for being able to help other people accomplish. Their goals is at a high level. Then you're going to have the brand that could never be bought agents who get into the business and think that they can bring in their way to success especially the agents of come in the business in the last twelve years and thought they. Could you know instagram? You know like in Social Network. That is a plane flying over yes. We are outside Who thought they could basically short cut the actual work part in convinced the marketplace that they're number one just because of all their branding and their crafty this and that they always go at a business. That never works. It's a recipe for failure. There are no shortcuts to long-term ever increasing levels of success. Now with that said let's you're established agent and your ability to accomplish you know success for other people consumers is at a high level. And you have that. You have established her name in your community. Xp Does Not want you to change that matter of fact depending on your state laws remember. I said that e XP does not want you to really go crazy with E. X. P. logos or anything like that unless you choose to you like if Jillian I sold rotate. We called ourselves on the Tim and Julie Harris Family Team and Julie's parents worked us. We had you know things like that so it was legit family. Family business delayed. I had started. There were retired teachers and If we were still selling real estate which we haven't forever but if we are still selling real estate we would have that be the exact same and then underneath that it would say brokered by X. P. so I have conversations frequently with you know third fourth generation real estate broker owners and they have a lot of obligation that is truly what it is to this brand that they inherited from their father that whose grandfather started in that it goes back. You know forever and some of these small communities that we deal with and I love those conversations by the way because I think that's really cool you know third or fourth generation brokerage still in business. That's kind of bad ass. I mean if you think about those out west pictures of black and white. There's always a hardware store. There's always a bar and there was always a real estate broker. You know who in the sheriff's Office so anyway? Yeah so we. They don't want you to shed your brand. They don't want you to lose your identity inside the XP again goes back genius. Glenn did he wants you to keep your brand. He wants you to keep your identity. He doesn't want you to feel like you have to sacrifice anything but really you don't have to feel like you're betraying your you know your family. You're not feel like you're portraying. The father left the bridge and going on going back many generations. You don't you're not going to so you would remain you know Bob and Susie Smith Real estate team or whatever brokered by X. P. E. XP does not want to dominate you. Xp does not want to come in and say you can't use those colors anymore. Esp doesn't even have any particular rules with regards to colors. You can use whatever you want to color. Seems like a silly thing for most of you but look if you got a bunch of real estate signs that you've made and they're really well done and the logos well de Fide and all that you don't have to go on ditch them and just have it say. Xp You just put a little sticker again depending on your state laws at the bottom the science has brokered by XP right so if you haven't established location that's another conversation we'll have to have with you on an individual basis but some of you have real estate offices in these small medium sized towns and they're you know main street and main street their ideal locations and that's been the same place where it's been for generations and you don't want to give up that location. Well let's have that conversation. Let's talk about that. Just text me directly at five one. Two seven five eight. Oh Two oh six. And we'll we'll work through the decision making tree together on the chances of the whole thing again. You're you know X. P. is leading with being agent centric and has respect for all of that hard work they put in and that is different than a lot of other brokerages So what are you going to do next? Dot One does expe- have live training events. Yes all over the place constantly really. It's the answer between the revenue share groups and the XP corporate. There are constant every month in everywhere. I just all over the place I bet you there are between the you know. I bet there's at least six live training events every single if not more. They're probably and we do as much or as little as you want to do. Much opportunity and that's just an opportunity to go to go to get to know like if you guys are interested in going in meeting the Eat like Julie and I were. You wanted to actually go to. Xp Event and experience it yourself. Just get in contact with us and we'll tell you which ones that we would suggest you go to again. Five one two seven five eight. Oh Two oh six We talked about providing leads. Yes through Katie Court. So if you're worried about not being delete generate And you don't want to proactively generate and there you go okay. What's the question you just pointed out? That's a good one yeah. I don't here's another question. Go ahead as well. We hear this a lot. You know all I hear from various sources it seems like He. Xp is all about recruiting agents. I don't want to spend my days recruiting. I gotTA sell houses for a living. I just don't see myself as recruiting every day. And here's what I say to that. Don't recruit them on sleep apnea. There's no rule saying me. I gotta put your license somewhere if you don't WanNA recruit you don't have to recruit if you WANNA sell real estate and be party. Xp You can just sell real estate and be part of the XP. No one's going to criticize you for that. But here's what happens because I hear that quite frequently actually is you'll get into the XP and you'll realize because you're just. I'll tell a story. Okay I'm not gonNA use his name so I talked with top producing agents all over the country every single day. And as you guys. Maybe No July been in coaching and training business since one thousand nine hundred ninety eight when we take took on her first coaching client. And so we have been over the years been aligned with a lot of these these these agents that we coach had become some of the top producing agents in the and their states in their various whatever's and so. We've had the opportunity to do a lot of speaking. We've had the opportunity to do. A lot of you know Getting in front of a lot of these agents and what they all a lot of these guys will see and understand the revenue thing revenue share opportunity but they just can't wrap their minds around being recruiters to which we tell them. What will just focus on getting real estate company and your real estate team moved over to XP and then we're going to show you how to actually revenue share. And so one of the things. I'm sorry we're going to show you how to actually sponsor agent which attract agents one other reason that some of the biggest names are attracted deliver toss in particular is because of the fact that we do offer very drilled down training on how to actually have the sponsorship conversations and break it down for you the sponsorship conversations actually fairly simple and essence. We're having it now with you. Kate. That's we're doing. It doesn't normally take this long but it's a process just like everything else you provide the XP curious people with Information they you know like to their questions and then you have now when you're getting started at the XP and your party Libertas. We actually have people that are part of Libertas that will your sponsor will get on the call with you with the person who's interested in joining xp and you can just as you're learning. The process listened to what they're saying and then As many times as you need for us to help you sponsor agents. We'll do it. 'cause here's what you're going to discover. You're not gonNA actually when you move over to xp you're GonNa have a number of people and if you're just a you know say five to two thousand five A unit per year agent. You're probably going to have ten or fifteen or twenty agents that were going to interested in having an X. P. Three X. P. Curiously won't have that conversation with you but you don't know what to say or how to say it inside Libertas we teach all of you what to say and how to say it but when you're new and you're just getting your footing. What we do is then do it for you so you can then be on the call listening to us as we talk with this perspective. Xp Agent and then when that agent decides has joined the XP they joined under your particular revenue share team. You heard me right. We do the heavy lifting for you as many times as you need it done but having done this with a high level of intensity for the past twelve months for a lot of people. I can tell you pretty much. I don't have to do it by more. Maybe more than three or four times and then people realize the pretty much. Espn is such an amazing value opportunity for you know the value proposition. Two agents a so much better and brokers and whatever those agents are experiencing now that's very rare that they don't make the decision to move over but so if you put some of you are still I don't want to recruit agents I just don't like it. Who Cares? Don't do it and that's fine and it makes me laugh. Coaching wise. Because it's it's kind of like when people say I don't WanNa call expired or for sale by owner. It's probably because they actually haven't done it and their impression of what recruitment and is is different than what it actually is. It's so much easier at answering questions. We're not GONNA say it totally sells itself but once you understand what it is. It's pretty easy to answer those questions. So what haven't we talked about well and with Libertas again. If you guys wouldn't have this one on one conversation just text me at five to seven five eight. Oh Two oh six and we'll talk about the other things that are going to help me do to get Deep dive into Really learning how to Sponsor agents recruit agents. But again if it's a if it's not for you it's fine. Yeah no problem because Like true story. I have had numerous conversations. These top producing agents nine times out of ten. They think they know how much they're paying their broker per year. But they really don't when you get in the weeds with them and you show them the numbers the biggest one they had so far and you guys are going to think. I'm making this up but I'm not. I had a conversation with the lady about a week ago. Who had paid her broker and this was last calendar year. Four hundred and twenty thousand dollars and she didn't even know as that much when I asked the question. Originally she said she was. She didn't have a cap which is ridiculous but she didn't have cap but she said I'm on. This was like an eighty five or eighty six percents split or whatever Bush. He didn't realize was on top of that split. She was also paying a monthly remember. They called it but like a sixty eight percent royalty fee. And there's all these nickel and dime bees and why and her sale price obviously was decent song. You know large number of houses and when I did it all up for her she didn't she was. It was emotional. Let's just leave it at that So by her joining ESPN. I'm just thinking back coversation by her joining xp she's GonNa cap pair cap and be one hundred percent within probably sixty ninety days of the start of every year so she's to be a hundred percent which means she's going to be able to put an additional four hundred thousand eight days or for production stays the same enter pocket per year. Production stays the same right. That's amazing yeah I had another person. Whose NAME MORE MAIN OFF. This podcast so chuck. You don't need to worry I'm gonNA use your name. He paid his broker three hundred fifty three thousand dollars. He sort of knew it. It Chuck was one of the smartest hardest working drill down people. I've ever coached before. But he was keeping himself blissfully ignorant to how much he was overpaying his broker per year until we did the numbers and we looked at the results. And here's what happened soon. As he realized that he was overpaying he still didn't flip the switch. Dsp that quick. He still need to think about it but once he moved past his ego and his resistance to change which is what it was which is what a lot of you are experiencing to and again we did as well. So we were right there with you Is He then obviously gave himself an enormous increase in pay every year? Because the amount of money he was Green did not pay his broker. But he's actually selling more houses in a challenge. I gave him. He listed forty one houses in thirty days which broke all records because now that he's toilets little dog that's walking away now that he is Earning keeping more of his own income. He's like ten times more motivated. Which is amazing. And by the way he's one of the people that doesn't want to spend a. Lotta time sponsor agents so when he comes across somebody that's XP curious we get on a call he me and the agent and we have the conversation and when they join join under again. This is something. That's unique to our revenue share group. As far as I know that we're actually getting in the weeds with you and not just expecting him to somehow miraculously know how to do everything. We're going to walk the walk with you until you get until you see it happening and I'll tell you where that swift skits flipped is once you start seeing the revenue share which usually gets transferred to your account on the twentieth twenty-first somewhere in there. As soon as you start seeing that money hit your account and you realize that it was passive income then all the sudden you find you know revenue share you find the real you discover the religion and now you're taking a harder look at the revenue share but look. It doesn't matter if you're not that motivated sponsor agents when you join the XP that's fine chances area come around to it so don't get stuck in the weeds thinking that oh it's kind of them and I only I'm tired of people. Just get all that crap out of your head just realize ESPN brokerage is state of the art. Absolutely phenomenal opportunity for everyone. And if you WANNA put the revenue share thing on the back burner for now do it. Just don't completely forget about it all right next question. Here's an easy one. What about health insurance here? I can get health insurance at XP. Yes you'll get there you go yes. You can't get health insurance through. Xp All right all right here. You know what Joe I think. How long have we been talking me? Look you can answer the next question. No let's see. Well here's here's the question. We will work together on this. You and because I've overheard some of these. I've had these conversations I've got an emotional connection or you know a lot of loyalty to my existing broker. So can you help me? You know. I know that he has a better financial model for me but emotionally. Maybe I'm somebody that struggles with you know maybe with my broker for like fifteen years. Maybe we've been friends for him. We might even be partners. What about people like that? So that is a that is probably the only time when I hear that from somebody. That's usually when you drill down and get past it when you get past all their concerns and their objections. That's the one that usually lingers if they feel that way at all which most people don't but when someone does feel that way it's an emotion that's not attached to any sort of financial reasoning and that's normal for most people. They don't think financially through emotions K. So what I hear. People say that what I realize is that They probably don't realize how much they're paying the broker. Okay when they point that out and if they still won't realize that maybe they need to be taken care of their family and themselves and thinking like business people. That still doesn't resonate with them. Here's where here's the point? I make to them and this I've experienced myself sponsoring agents. Just dozens of times. Chances are the broker wants to go to the X. P. or would if they knew more had more information chuck was a great example. So Chuck joined the X. P. Then chuck was an absolute gentleman and how he handled himself didn't burn any bridges and sure enough his followed him to xp so chuck ended up sponsoring a lot of the agents that were in his old brokerage at at XP. And that's what I've seen continuously happen and that's one of the things by the way we work with you as part of Libertas when you have that emotional attachment we're gonNA show you help you script you work with you work with them. Do everything possible to make that transition smoothly. And when you do it the way we ask you to do it it. You'll find that most times it's gonNA leave the door open for them then to follow you over the XP because most brokers guys. Here's the bitter truth are making no money now. Not even not making money they're basically living an absolute. Khan and brokers you know what I'm talking about right the old joke the being a broker just makes you broker. It's always been true but it's even more true. Now Commission splits have gone You know our favorite agents more than ever but commission amounts of decrease the cost of technologies increase ears missions insurances increase the competition from all these different all has made it so that brokers are making no money so an interesting statistic for you guys. The average real estate broker makes less than three percent per year. That's at three percent before taxes. That's what they're getting paid. So if you think brokers are getting rich they're talking three percent net profit. He's not talking about three percent commission. Rate Right exactly thank you. Yeah they're making like two percent net profits. That's running it really tight. That's one recession away from going bust. Right yeah I mean you know what I was thinking Tim is. I guess what happens well and we saw that you know but as as we were talking about the loyalty issue and and those kinds of friendships and things. I really think that being the leader and making that switch. You might be the icebreaker for helping that broker find their profit and if you WANNA show your loyalty. There's no better way than that is to you. Know Kinda help amount. That they probably haven't even had time to think about it. And here's the bitter truth to about brokerages. So brokers earning a million had the company brings in a million dollars after expenses and paying agents and all the rest of it. They might be making twenty grand. That's the reason that most brokerages are brokers are still selling raw state. They don't want to still be selling real estate. They thought being a broker would give them leverage it would create financial freedom for them and it hasn't and it won't and it never does and especially is not going to going forward because of the nature of hell traditional brokerages run. The fixed costs are just too high. That's the reason for example. I mean the X. P. I use the example that they're like Net flex where's the traditional brokerages are like blockbuster and it is really true but I think even the better example might be if you compare Amazon to shopping malls shopping malls or going out of business left and right because it turns out. People want the convenience and cost savings of being in and frankly the choice of being able to buy online well. Obviously consumers are moving to that Mental Paradigm with doing everything from buying anything houses anything but combine that with the fact that now the brokerages that traditional brokerages. They're caught in these really horrible situations. Where fixed costs and have these expectations of having to keep the lights on? And guys what's going to happen in the next financial downturn will whatever however defects real estate. It's it's GonNa hurt released all these agents that are in brokerage that are making marginal profit if you haven't been able to make money and save enough money creating a passive income during this last ten or twelve years during what will probably be the last massive huge run up in real estate prices of our lifetimes guys for real so if you haven't been able to basically set yourself financially in this type of market. What makes you think you're going to be able to do it when the market changes? You're not you're just GONNA suffer needlessly. Someone asked me wants to really drill down and why I thought E X P was going to be the model to go to when the market changed just told you because when the market changes expertise got Fluidity in their in their expense in their expenses because virtual they for example your broker has or you as the broker. How many office rents do you have? How many receptionists? Do you have electric bills? All that stuff which is seemingly by itself not a lot of money you know when you add all that stuff. That's all your profit goes now. What happens if the agent stops enroll state? You're screwed you know you're you're basically going to start having to. It doesn't even take a big recession or some massive event to wreck an only two or three percent net profit at the end of the earth. Right you just have to have kind of a crappy month. Maybe two months in a row. And then you're done well. Look here's how emotionally really fragile. People are case. So there's this talk of what's the virus called Corona virus. Okay Corona virus. Hold on Corona's beer. I know who named it? I I and I have to look that. It's kind of a dumb named Joe Everywhere. But that's what it is okay. So what's happened is basically as the fear of. Let's assume that most of it's hype has a lot of type because most people don't die from it but list. Just look at it for what it is. How are people reacting there? There's this global fear that people are going to stop buying stuff all right now. Here's a you'll discover three to four months from now you're going to see that the number of pending 's because of all the hype about the virus scared buyers. It made people not out take action. It caused different things to happen as unintended consequences of people's fragile emotional states adversely affected. They're willing to sign purchase contracts. That's going to happen with car sales. It's going happen with everything. And that's the reason. The stock market is going through a corrective cycle because they know that consumers basically can flip a switch instantaneously soon. The wind changes direction and they can all of a sudden stop buying and stop spending. Stop feeling confidence. It's all based on emotions so when we say it does not take a huge recession or some horrible nece happened back. No seven to really knock you on your heels doesn't it could just be an overripe virus. It starts in China that causes the market to slow down. That's what that's the reason that so many of these brokerages and you guys listening. You need to take seriously the opportunity to explore this because this gives you a graceful exit out of an obsolete business plan. Now look you didn't fail your brokerage or your team. The model itself that you were falling worked maybe twenty thirty years ago. It just doesn't now because everything else changed so your move over to X. P. is not you failing it's you actually succeeding at a higher level. You've got emotionally realize that when you know the the old story goes that when the I don't remember that Reed Hastings who's the guy who's The CEO of Netflix I think that names right. But when net flicks came out there was a conference or some you know essentially some famous moment where the guy who's the CEO of blockbuster was asked the effect on net flex or whether they're on his company whether even paying attention he gave some terse answer like they're just you know nothing nothing within like. Oh I forget what short period of time? It was like two or three years. There were no more blockbusters. They all went out of business because people obviously gravitate toward something that made more sense to them saying things happening shopping malls right now because of Amazon. Some other external reasons that are changing the way people interface with retail saying things happening real estate. You guys knew all that. So you part of what's next. You can just try to keep your fingernails. Clench to something that was that doesn't work for you anymore as you slowly go from being a burger or from you know running inefficient team. The bottom line here guys is is if you want to finding finally be financially free. You need to give this a serious look. They're just they're no two ways about it. Don't be dopes like Juliane way as long as we did get involved right away if you WANNA do it if you're xp curious and you just want to gather more information just text. The Word E. X. P. Three one nine nine six textile. Espn two three one. Nine nine six raid drill down conversation that will most likely result in you moving forward with the XP and you'd like to discuss being part of our group. Please do consider give me a call or rather give me a tax almost always on the phone and text me at five one two seven five eight zero two zero six. We got probably half of the most common questions the ones that we use the most though. Yeah at the end of the day. It's just good common business sense to make that decision for yourself and for your family and you know the sooner you can make it the more you're GonNa look back and say thank you. Insert your name for making that decision so I can move forward and and not be confused about this so whether you're grizzled veteran or you're a Newbie or anywhere in between you have to investigate and take this seriously. It's a business decision at the end of the day some of the biggest skeptics that you know a year or two ago were creating all these salacious youtube videos and whatnot. They're joining experience. Pretty funny and all these executives process. I guess they're process saying that other but isn't that true? Though when a new idea comes around the first thing that people try to do something to be a critical critical and say it'll never work that eventually. They you know the early adapters will join the rest of it and they do it. I and they get usually the most arrows but also the most benefit so wherever like xp might not be real dominant in your marketplace. Something else I hear occasionally is newly. Xp Here's my answer your lucky because where there's a lot of agents there's going to be a lot of people wanting to have sponsoring conversations with those the those Noni XP agents so if you're in a marketplace where there's not a lot of the X. P. agents you are absolutely blessed opportunity. Take the most opportunity or take the most of that as you can as fast as you can because as the word gets out pretty much everybody's XP curious as we call it now but as the where you're gonna go to you. Are they going to go to their twenty or thirty choices? If you wait too long seen that happen guzzling especially now you know. There's so much momentum behind it. I got an email yesterday from Jim I just. Let's say his last name. I talk with Jim. Jemison will join. I've known for fifteen years at least forever. He's a very successful Rossi. Investor Really Smart Really Great Guy Real estate coach. Just one of these people we like to say with well. Jillian I talked to a mighty. Xp Year ago he responds respectfully declined. You know no problem. We left the door open for future conversations. They get a text yesterday. He asked me the funniest question he said Tim. Are you still looking to sponsor people as part of your group? Esp Yes is the answer and so we're having a conversation tomorrow morning and I can tell from the text back and forth that he's ready to join and if you're in that state if your individual agent if you're a new agent is seasoned agent if you're small broker broker let's have the conversation the You know if you're XP curious just text the word ESPN two three one nine nine six and will text you back some information and some videos you can watch if you WANNA take the conversation. The next level feel free to Just text me directly at five one. Two seven five eight zero two zero six five one two seven five eight. Oh Two oh six and generally speaking I'll get back the same day if not right away. in yeah guys anything we can do to be of service to it is truly what our mission is and I think we covered a lot of covered a lot ground. Yeah I see some kids coming off the beats. They're going to start making it noisy. So yeah so this is a tim and Julie signing off from Beachfront and Dorado Beach Puerto Rico where we live now Yeah so there it. Is You guys have a fantastic day? If you need anything united get hold of us.

K. Julie Jillian I Espn Tim Texas Julia Julie Harris Caribbean Africa Zillow
Podcast: 10 Simple Step Lead Generation System

Real Estate Coaching Radio

29:22 min | 3 months ago

Podcast: 10 Simple Step Lead Generation System

"Welcome to real estate. Coaching radio starring award-winning real estate coaches and number one international bestselling authors. Tim and julie harris realistic coaching radio is the nation's number one daily radio show for realtors who demand authentic real time. Coaching get ready for flood. Free unfiltered full-strength honesty about what's working to get you into action helping others and making money now in today's real estate market or hosts tim and julie hairs three to one and julia back. It's february the fourth and we've got a great topic today as a result of of our great coaching clients and our podcast listeners. Sending in questions remember guys. When you have questions all you have to do. Is you can email them to me tim at tim and julie harris dot com or you can always just text text me directly which five one two seven five eight zero two zero six as my real cell phone number. I really will get your taxed. And you know i really will respond and we do get a lot of texts. But that's okay. We're asking for you guys to stay in communication with us so we can make sure we're on target with what we're presenting on our podcast and thank you as always for continued to make this the number one and listened to daily podcast for real estate agents in the united states and so delay the topic that we are presenting today. And probably tomorrow. Yes we're talking about ten questions to ask yourself for to create your personal lead generation. Plan tim this is in the harris rules book which they can get on amazon and barnes and noble. You can find one and certainly target an airport bookstores. So if you don't have it yet this is right out of the book but one of the reasons that it's in their one of the reasons that it's in there is because we become really clear that most agents even if they've been licensed for a long time even if they've sold quite a few homes don't really understand lead generation and nobody asking these questions to help them get clear. It's an absolute incredible huge problem. Because what happens is agents get into the business and this is true with any art or any business owner. And they're inundated with all these gurus telling people make and telling to do all this stuff and social networking this marketing stuff and they don't really realize that the people selling the stuff are just. They're not real estate professionals. They're not even sales professionals. They may be aren't even business owners. This just might be some sort of side hustle. They have where they're really doing something else as a full-time job. And this marketing gimmicky stuff that creeps into our lives if we don't have really good filters really frankly of some basic understanding how a real lead generation funnel was supposed to work or more specifically your spokes on your lead generation wheel. Unless you've really thought through it. You're going to add the wrong spokes. I in other words. You're going to basically build a very fragile wheel and just so. I can drive that point home. The analogy that we made in our book and we created this years ago. And it's kind of. I appreciate the fact that so many people have liberated this analogy by the way. Yes i hear this different things. I'm listening to but the spokes in the wheel. Analogy is essentially just like it. Sounds ear rolling down the street and you have a bicycle wheel delays in the process of training orders. These segue dirt bikes. I noticed that are trying to on your list of things to do. Right getting those to puerto rico as a challenge but so the segue dirt bike shows up. If it's only got one spoke on it obviously the second hits a little pothole of which there's plenty in puerto rico to head. Then we're obviously going to have a wheel. That's not very very strong. It's gonna collapse in itself and so your goal is to basically have as many spokes in the wheel so you have the strongest wheel that you possibly can. The problem is if you have against sticking with the motorcycle analogy here if you have too many spokes that also going to create a problem because the wheel itself. We'll be too heavy so then you have an inefficient wheel so the key is to have. Ideally no more than seven different. Lead generations spokes. And if you really wanna get specific on this your real goal is to not have. One spoke be dependent on another one. Had each of these spokes be depended on themselves and that way if one fails the others won't just automatically collapse as well. That's critical because so many agents will basically say well. I've got this one particular. you know. Referral widget i get referrals from this particular company. And this is where my business comes from. Maybe it's you're buying leads from zillow or whatever. So that's your spokes. Maybe then you rationalize that. Well it's zillow sending me buyer leads in different price ranges referring to agents on my team and all the rest of it but then soon as zillow rate changes the price or changes. You know how they decide. Who's going to get what lead. And maybe they decide that they're not gonna send you leads anymore because of the fact that you're going to be essentially a competing brokerage with them and they're now operating as as a brokerage in your marketplace as you guys know they're definitely opening a brokerage is all over the country so in the event that that becomes a problem for you you now have lost. Your main spoke of business. You've got to really do your best. Keep each of these spokes separate from each other and the first spokes that you should always build are the skill based spokes because if you decide to do the paid lead generation marketing spokes after. You have the skills space spokes. Those folks will actually work a thousand times better because you actually have the skill set to pick up the phone and prequalify questions to ask. But it's incredibly important as you listen to julius presentation for you today that you remember the first spokes you should always built are the proactively generation spokes that's right and incidentally those are the spokes that keep you in control. So let's say that one of those folks is working really well. You've figured it out. You're using your scripture getting predictable results. Will you have the power to turn on that faucet more or less depending on what you need with the other ones. It's not dependent on. You know you have no control. So let's i wanted to just show that this gets by nobody. Because this is such a critical thing. And i've been listening to clubhouse conversations and obviously you and i pay attention to what agents are talking about and here's the thought if you are centers of influence past clients based that's where that's the hill you're gonna die on. That's your one thing. That's your true when it comes to basically lead generation and i get it some of you guys. That's your thing. Well that is not a predictable. Spoke ultimately that's the fallacy with that business model being. You're only business model. Now what do i mean by that. You can't every single day know for sure that you're going to be able to generate elite from your centers of influence and past clients. It's kind of a roll of the wheel to know whether you're going to get one or not get one and yet you have to obviously work at every day or work at every month if you're going to get a really somewhat of a duplicate will result out of it but even at the end of the day it's not predictable. It's not duplicate hoping what it is at the end of the day. So when you're build now with that said we do suggest your i spoke is your center of influence and past clients spoke because it's the easiest one to build. I and we have a whole bunch of coaching and training about that in our premier coaching program and how to build your centers of influence a past client. Plan your twelve month plan for tentative influence and past clients. All that stuff is already done for you. It's probably premier coaching. But after you've got that spoke in place and that's spoke truthfully shouldn't take any more than really a couple of weeks to put in place systematising. Which is the next chapter of the book. Right it's so simple so don't screw up and think that that's the only thing you should be doing because again you cannot predict if you will get any business from that pass a source yes in fact the name of the chapter is don't be a one spoke wonder go now and in. That's the most obvious when because so many agents especially in a hot market are living off of their center of influence pat and pass pointless. Why because they all have equity and everybody's excited to do something and everybody has feared missing out that it makes. It seem like that's going to be an endless funnel right but what happened when the market changed last time. It's people to stop buying. If that's your one spoke. You know nothing else than those were the agents. That kinda got screwed i will. We don't need to drove on too much on the centers of influence. But at some point of that those are the agents that are almost always the easiest to beat in listening presentation. This is true because generally speaking there haven't learned to be competitive just relying on relationships to get them the left and right and they think that they're you know. An awesome listing agent across the board because the people that know love and trust them or easy to get right and they have never learned how to compete. And so when the market changes like julie said or more specifically when the prices start to level off if not adjust down your centers of influence in past clients. They're not just going to call you and then you're going to pay problems. I should listen to tim and julie years ago. That's what the piff pitney that you'll have so always do your proactively generation spokesperson. Yes that's right okay. So here's some questions to get introspective about an amazing that. Nobody really asks you guys this when you are looking at your lead generation. What do i do i question. Do i actually have a marketing budget. If so how much is it for many agents. You can stop right there because you don't actually have a marketing budget. You're going to have to be prospecting based you don't have a choice and i hear all the time again. You guys being given this horrible advice that you're supposed to be borrowing money in running up your credit cards to work on your branding. That is really incredibly stupid and financially irresponsible. I'm not going to say any more specific than that. Yeah well and so the rest of this point is if you do have a budget. Let's be honest about that. Is that for this week this month. This quarter this year because when you are spending money on marketing you have to do it consistently and there's a whole lot of what you call hoping waiting to see if it works when it works. How well it works. So hopefully you're understanding that you do not need to spend any money on marketing and advertising or branding. You do not need to do any of that. maybe ever. and we've had plenty of. Coaching clients have never invested in any of that stuff. All that stuff is just a big macro trend and you can build a very successful real estate business. That has fifty to sixty and seventy five percent profit margins by following the plan that we've created for you or your focusing primarily on being a listing agent remember that marketing gurus that you're listening to have mostly never sold real estate before so they're selling their stuff to you know chiropractors and people in a pie shops gyms and all this stuff so when you tune in to listen to all these gurus telling you to work on your branding you've got to understand it's not really relevant for real estate. Why because any single day of the week and every single day of the week you can pick up. The phone have ready immediate access to a list of sellers that have their homes actively rather they elissa sellers who actively looking to sell their home. And julie teach that in our coaching program and those leads cost you nothing so this is not something a marketing person's going to tell you about because if all the sudden the marketing guru coach where to start telling you that you don't have to spend money on all this stuff you're then going to wise up and say well. Then why do. I need to listen to you. Why do i need to work on my branding. If i can just basically learn how to be a proactively generator and cut out the middleman go directly to the seller. That's the thing that's unique about. Real estate be clear about that in your head in order to feel comfortable picking up the phone or doing other things. We teach our coaching program. You have to have the skill set but the skill sets themselves are not that difficult to get and it doesn't take that long to actually. You don't even have to master them. You just have to do the work. And that's what we teach you in our coaching program. It's incredibly important that you have clarity in your mind about this. You do not have to buy business in fool people through branding into making yourself look successful when you know that you haven't actually earned the right to be successful because you have an sold enough houses yet. You haven't helped enough people yet. You have to actually do the work. I and along the way what you'll discover is your brand is created for you based on the successful home sales in the fact you're helping people and then down the road if you want to add some passively generation spokes based on marketing. You can and by the way julia to if you guys haven't downloaded your twenty twenty one business plan you can do so at any time. Just text twenty twenty one to eight five five six eight five ten forty five text twenty twenty one to eight five five six eight five ten forty five and when you do. We're gonna text you back to fill in the blank business plan which includes a specific plan. And how you can create your twelve monthly generation plan which is drilling down. Exactly what we're talking about. Listen to what we're saying but most importantly when you hear what jillian are saying. Pay attention to what your intuition is telling you. Is it your intuition saying what they're telling you is the truth. What they're telling you does make sense is practical and tax goal. You don't need to be going down of these complicated overly analytical rabbit holes just learn. The skill sets to be serving other people. And then you won't have or have to maybe even do waste time doing a lot of the time wasting activities that so many agents can themselves as work. Yes okay so remember. These questions are going to end up with you having more clarity about how many transactions you'd have to do how you're going to do it and what your spokes in the wheel are going to be so point number two. Do i have our question number two. Do i have other sources of income. In addition to what. I must earn in real estate if so how much is that income. And how long am i going to get it. Consider a spouse income rental income another job a pension or any other source so we're drilling down. What real estate has to actually provide for them. Question number three based on my goal setting work in chapter to remember this is from harris rules. Book what is my real income goal for my real estate practice for example. What do you have to make monthly to pay your bills and replace your old job versus what you wanna do to make monthly. I'm sorry versus what you have to make monthly to fund your new upgraded goal based lifestyle. What is that Because what spokes you do. And what order you do them in and how much money you spend her. Don't spend is dependent on what real estate has to actually provide for you. See how we're taking the guesswork out all right leading to question number four. How many transactions need take your answer from the previous question and divide by the average net commission in your marketplace. Or if you have a track history a real average net commission. You can divide it by that if you're not sure maybe you're freshly licensed use the average of the zip code in which you plan to sell and again if you're experienced you already know what your average net commission is divided into your required income figure and you'll know how many deals you've got to do to meet or exceed your goals. Isn't it amazing that nobody teaches that totally. I every time. I read that i'm duh search instead of you know when you ask agents would. What do you need to do this year. The answer is like more which is not specific. Or they'll be like well. I should be able to do. Choose your number if there's no math behind even worse than that because when they're answering that question there's obviously saying a number that isn't based on any sort of you know reality as to what they actually need to hit their their financial goals right but then it becomes to the point where okay now. I have to sell hundred houses. Because i'm keeping up with the real estate. John's right and element started doing dumb things like buying leads. And i'm going to start worrying about buying a team and all your mind is circulating is around. How do i add buyer agents crap. I have to overpay these buyer agents and own. You do that. Your net is so crappy you have to do. One hundred more deals well. You don't have a net. You basically making big teams that. I've ever coached personally or ever come across. It's funny when they reach out to us. They know that cool julie when they reach out to us they know. I'm showing julie this airstream that's a remote office. It's called the flying cloud thirty. Fb office floor plan. So it's got a little office in it. I know isn't that amazing but get this. This is funny sense. I've just interrupted myself. So this is hundred and seven thousand dollars. It's an airstream led to set aside but that's an extraordinary amount of money. But what's really amazing is that they're sold out for like two years. So if you wanted to buy one of these bad boys you gotta wait for two years. Tevin straight about that as you could do that instead of like a home edition for an office and probably it would be less. I think about this for well. The so here's the really fascinating thing. I bet you a lot of listeners. Don't know this is that if you're if you for example where to do this airstream thing and create a home office situation for yourself and the trailer is registered and it sits on tires even if you take the tires off and basically put it on jackson's and then cover up everything we'd sound definitely redneck as we're going through this but if if you sit opposite up on wheels if you see this airstream you guys will will realize it's really beautiful but we do sound like read next door who cares for property tax. There's oh property taxes right so you can actually have livable square footage at your office your home really and now having a painting of property move you can bring that whole piece of your house with you exactly school before okay. So we're figuring out. How many transactions they actually lead. What's the real estate magic numbers of it. And so this is. This is part of the real estate trash about. This is the heart of the real estate treasurer mouth. And you get this for free. Just text twenty twenty one eight five five six eight five ten forty five so i'm gonna just condense this as quickly as i can because it does not need to be complicated your life your professional business life comes down to one number it really does and that number is the number of listings you need at all times to meet or exceed your financial hopes dreams your goals obligations right and there's three categories of expense there's taxes personal business and you might even add a fourth if you're trying to pay down some debt but the reality of it is is those are the categories of income you add up with those numbers are and obviously you know then you figure out what it is per month and the rest of it and what you're going to quickly discovers in most markets you're going to need usually no more than five or six maybe seven listings at all times because of that when you have seven listings your whole mission in life your whole business plan is to get to maintain seven listings but tending to sell really fast. Thank god right. That's what you're going to pay your bills on so you're going to be working towards building the up to that number and they're you know it's gonna take sixty nine days because have stuff selling you have to work really really hard for the sixty nine days. Maybe you get to the point where you have to listings at all times three listings at all times five listings than seven listings and then when you. Seven listing sell in most markets. You're going to have probably realistically three of those cell per month. In most markets your average commissions going to be gross commission on three hundred fifty thousand dollars. Let's just say is going to be eleven thousand dollars so in most markets if you three listening sulfur month. You're making well over three. You're making almost four hundred thousand dollars a year. Which i'm going to guess for most of you is more than you're making now in order to do that you just need realistically seven listings at all times. If you're sale prices higher obviously you can adjust that down intrusive as well as if it's lower. Are you understand what i'm saying. You just have to have a certain number of listings all times and then all the rest of this stuff. When you've met that particular number when you have learned then that your mission in life is a professional real estate person is simply replace the listings that you have sold that particular mother. Think of all the things the no longer will have to do. Think of all your whole business plan is falling exactly what we lay out for you in our coaching program. You're going to have a dry erase board. It's gonna have a particular everything's gonna be set up exactly like we prescribe to you and your only mission. Every single day is obviously help listings get sold and the replace listings itself by being a proactively jenner. No referral fees. No buying no branding. No marketing no any of this stuff. That sucks away. All your prophet in many cases. Not even your profit. You're going into debt to do this stuff and everyone is telling you to do it because you didn't come from a business background. You don't know any better until you do it right right now. Related to all of us. Just getting you guys thinking about just said and how you're going to go about it because the next part is how do i do this number five. Do i love speaking with people or my bit intimidated by the idea of prospecting. Do you gravitate towards people who you know or don't know when you think about prospecting one is fine but it will help you. Determine what to pursue with your lead generation wheel question number six. What support does my office Already offer me. What support is my office already. Have some offices lead generation in place. Some offices have good Flow of corporate relocation builder relationships or other sources. so no. What's in front of you before you build your own wheel spokes question number seven. What has worked for me the past. And why did i stop doing it. Sometimes experienced agents simply get out of the habit of doing some of the things that have historically worked for them. Coaching clients right now. The first caller like what i used to call expires all the time. And i asked what kind of results pretty good i know. I hear that constantly not doing it anymore. Right right i okay so this can range from getting referrals from your maybe your group to probate letters that you just haven't sent in a while or prospecting builders sometimes you just lose your way other times. What you used to do doesn't work anymore and you've got a good reason to stop doing that. All right again introspection on that point number eight or question number three what to my current market conditions call for what is your market looking for. Keep your marketing and prospecting appropriate to what's happening around you that's called take what the market's willing to give you which right now. The market is starving for more listings back to being a listing agent rate number nine. How many people are are in my past client center of influence database. What are you doing currently to handle their real estate needs. Remember that's not supposed to be your only spoke but it is a foundational spoke if you're already doing well with repeat and referral but your communications with your database is not systematized. Imagine what you'll get when it is so that goes back to you. Know taking the steps to get that to be a functional spoke and then you can add on from there but delayed the real takeaway. Hopefully they're getting from all of this is that i'm seeing this. Visualizations tens of thousands of people that are going to download listen to stream it whatever whatever and then they're going to consume this information and right after they get done listening. I know at least some of them had a little light bulb. Go off in their head based on what we just said. You're telling me that. I only need a certain number of listings all times to meet or exceed all my financial goals. And i don't need to worry about then the long list of crap you guys are worrying about you. Don't need to worry about. it's pretty much endless. That is what i'm telling you. That is how simple business a real estate business really is. That's what makes it different from. Virtually every other kind of business because in real estate you can go out and list five or seven houses whatever you rotate magic number is and that inventory doesn't cost you anything in a normal business. It does not matter what the businesses if you wanna retail something if you're wanting to basically make margin off of it or or commission generally speaking if it's not a consignment thing but even if it's a consignment that you're gonna have carrying costs for that if you have. If you're you know. I ran into a lady that sells us jets. We knew a lady in georgetown texas where we used to live and and that was her business in her and her husband they had a really very successful business selling used jets and they had inventory those things. They had their carrying costs with that and it was a lot of money. You guys don't have that as a real estate agent as a real estate agent. You'll list of property. Then you're going to make your commission off that house and yeah and the sellers going to pay for all the work necessary to get the house in optimal condition to put up for sale. You know swimming's not going to be something that is going to be an investor. That's unusual if you wanted to open up a gym to open up a pie shop if you wanted to open up a restaurant if you wanted to open up. A you know a clothing boutique or make business or all. These other types of october neuro things that people are really focusing on your going to have a vast amount of money. That's going to go just to start the business. A friend of mine and brandon jackson. If you're listening. He wants to start three gems in state in the gems. Are it's a franchise each of these gems just to get it out of the ground is gonna cost a quarter million dollars in cash and working through his business plan with him and trying to figure out how he's going to put all this together he's going to borrow the money from a sba. That's what plans to borrow. Broke that from the sba. Jr open up these gems. And it doesn't make sense to me when you look at. How all these numbers work and we for you not to realize that. That's the reason. Being a listing agent is the true leverage in real estate for you guys to overcomplicate it and think that it has to be more difficult than it is. It's because you're frankly listening to the wrong people and you're constantly reinforcing. The wrong people with more on people. And i get it because everywhere you turn everywhere. Everyone is a internet goo or seo guru some sort of social networking guru some sort of marketing guru. Everyone's telling you work on your brand. Have you guys ever thought about what that actually means when someone says that to you right need to work on your brand. That's your true asset of your business. I hear that constantly well. What exactly does that mean. Does that mean that. If i spend enough money on different things trying to convince people. I'm something that i'm not. Which is what pretty much branding as especially social networking that. Somehow i'm fool enough people that i'm going to be able to pay my bills pool enough people into thinking i'm actually successful. It saw enroll state. Because i have all fancy pictures that then somehow miraculously. They're going to reach out to me. It doesn't really work that way. If you don't have the skills to back up the lead generation than where what's going to happen you're gonna make no money and ultimately you don't have to do that. Stop now you. it is fun to do. I'm not gonna argue with you on that. It is a creative opportunity for a lot of you guys to you know. Have some fun with just different. Creative outlets branding is fun. Working on social networking can be fun. Making videos can be fun but what it is. It's fun it's like a hobby. It's not real work. Not a lead generation spoke no. It's not something you can count on. That's what there isn't we. Go back to the spokes in the wheel analogy in your mind listeners. I want you to argue with that point. I want you in your mind. Do your best job arguing with why you wouldn't want to build the proactively generation spokes. I why you wouldn't want to have something that you're in control of why you wouldn't want to do something that you absolutely. Positively can control whether it's going to produce consistent effort a results for you every day. Why you wouldn't want to do that. I can you tell me one single reason why you wouldn't want to do that. I can. i'll help you out. it's gonna take skill. Yes it's going to require you to have a schedule. It's gonna require you to be disciplined. It's going to require you to learn how to help people to high level and a variety of different situations especially sellers. Who cares. learn how to do it. That's actually a lot less painful and expensive than what you're doing. If you're not doing that. I hear that all the time totally you know. As soon as they have like one or two victories. From one of those proactive spokes then miraculously they get addicted to it. And it's really kind of fun to watch or the problem is they actually are successful at the proactiv stuff that we teach. Yeah and then they get lazy and they get seduced into believing that the somehow not have to do the real work anymore and then they start trying to buy leads. Yeah that's right. And then they. They're not making money consistently they go back to the proactive. They make some money and then they go back to the passive and back and forth back and forth. It doesn't work that way. That's why your your income is back and forth because your work isn't consistent. If you have inconsistent workflow you get inconsistent results. That's right it's a fact. It's that way if everything in life so listen listeners. Thank you for listening today. Hopefully this information is going to help you. Keep your head screwed on straight about being proactively generator. If there's anything we can do for you. Obviously just text me directly at five one two seven five eight zero two zero six five one two seven five eight zero two zero six book available everywhere. It's called harris rules over four hundred like four hundred and forty five star reviews. Now it's available in audible book. Why great feedback on the guy that the publisher hired to do the read of that so yes please do read the book because it's going to give you what you're looking for. What's the ultimate sense of direction. How to build your business from any stage with your experience and you're wanting to go to the next level and frankly you're waiting to produce more profit for yourself. It's all there. Please do a gut check when you hear jillian. I say something that is sort of flying in the face of what everyone else is saying. Ask yourself what we're telling you does make sense asked. And you're just literally. What is your gut feel about what we're telling you. Do you notice how what we're telling you as practical and tactical and it's free because we know it works. So why would you question what your intuition is confirming. Is the right path for you to go down. It doesn't make sense. It doesn't remember. Einstein said whatever. You're working on should be boiled down into its most simple format and that means your magic number if you know how many listings you need all you have to do as lather rinse repeat. It's really simple. You guys have a fantastic day all talk to on the show tomorrow. This program has been a presentation by tim. And julie harris real estate. Coaching for more information on real estate coaching and training programs. Visit our website at tim. And julie harris dot com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening joel. Real estate coaching radio with tim and julie harris.

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Breaking News, 1031 Tax Exchanges Under Fire

Real Estate Coaching Radio

26:14 min | 10 months ago

Breaking News, 1031 Tax Exchanges Under Fire

"Welcome to Real Estate Coaching Radio starring award-winning real estate, coaches and number, one international bestselling authors, Tim and Julie Harris Real Estate Coaching. Radio is the nation's number. One daily radio show for realtors WHO Demand Authentic Real time coaching. Get ready for flux, free, unfiltered, full-strength honesty about what's truly working to get you into action helping others and making money now in today's real estate, market data or hosts Tim and Julie Hairs. Three to one we are back. It is what is today. July the twenty first. We've got a couple well. I think maybe two or quick headlines to share with. All of you guys. The first one in particular I think is. Kind of urgently important, and this is something that will affect all of you. Those of you who work with investors and the next one is sort of an ominous. I think forward-looking prediction of what's going to happen a lot of the major cities, but we're GONNA. Share these two points with you just because I think it's important that yes, we all stay optimistic and we all stay hoping for the best, but never forget to also be preparing for the worst in a couple of these headlines I think will be real. I think poignant right now for the sake of keeping you in the mindset of being prepared for the worst and remember today is a continuation. Continuation of the I ended up being twenty one things. You should never say to yourself. Let alone never say out loud to anybody else. And these things a little pernicious things become normalized that people get used to saying used to thinking and you don't actually realize the Nazi ramifications of some of these things that you know again just normal things that people say to each other, so we're going to pick up and I think we might actually finish off the topic today. Right Julie Welcome today's podcast. Thank you very interesting headlines Indeed, so let's start with this one biden to propose seven hundred seventy five billion dollar child care elder care plan funded largely by. Real estate investors so don't get US wrong here. That's all good child care, Elder Care Plan. But how are we paying for this Biden's quote? Twenty-first-century caregiving education workforce plan good luck sending like you're against that caregiving and education workforce plan follows major proposals on Green Energy and buy American economics would provide universal childcare, two three and four year olds new fund new childcare centers work to clear the backlog for in in-home in home, elderly and disabled care requests and help caregivers get better paint education, and just so you guys are clear I think. Assuming we are too much Jillian, I actually benefit from both of these plans because we have not only an elder in the house, but we have a younger in the house. So, we could get joy, so maybe we should love on this proposal and hope the Biden wins, and so that we. Way Frieden Campaign said that the proposal will quote be paid for by rolling back unproductive and unequal tax breaks for real estate investors. Or entered thousands and taking steps to increase tax compliance for high income earners, senior campaign official told Bloomberg News that he would specifically target like kind exchanges boy that sounds like ten thirty one to me, which led investors defer taxes by reinvesting commercial real estate sales in another property and also stop investors from using real estate losses to slash their income tax bills. So did we warn you guys about this two weeks ago? Yes, we did we got. We gave you guys. I think it was maybe two or three Sundays ago in our Sunday show. We gave you a prediction of what we thought were going to be the low hanging fruit for. Where they're going to increase taxes where they're going to increase taxes and just be very clear about this on ten thirty one exchanges now obviously Biden has to win, and obviously on that proposal will get you know bellied about, and then who knows how the actual. Maybe it's not an income of four hundred, maybe an income of two hundred, or maybe it's an income of a million, and then you don't get the tax breaks anymore, but the moral of the story is. Is it certainly? Certainly does appear as Jolson. I predicted that ten thirty one tax exchanges a which have been a actually over the past maybe ten years. The things you contend thirty one used to be in ten thirty one equity from like one collector, next and things like that, you could use ten thirty ones for all kinds of assets, and now it's basically being no essentially being made so that it's going to be taxed, and that means that when you just put the some perspective, let's say you. You do a flip, or you buy an investment property, right whatever it is, and then you go, and you sell it, and before you could just say well. I'm going to like kind exchange into a similar property and I'm GonNa move whatever equity or whatever profit I would otherwise had to make taxes on them. Just move it to the next property. Well now they're going to do is they're gonNA. Make you pay taxes on every every time you sell a house, so when you. You sell any kind of property, and you have a gain on that property. You'RE GONNA have to pay taxes on it. You can't just defer the taxes by essentially rolling the your equity into the next property that's going to have an effect depending on where the income cut office that's going to have a pretty I think damning effect and a lot of aspects of certainly the higher end real estate, investing a lot of real estate investing in order to make the numbers make sense. When I'm talking about. You know big multifamily things like that. One of the variables is definitely the benefit of the tax thirty one, so a lot of assets are sold based on the idea that you're going to be selling out of a another asset moving your equity up into the next one, a lot of people have. Ladder D- up into the investment realms of big multifamily and things like that, so the unintended consequences of starting to tax that. Of course, we don't know what the tax rate will be, but the unintended consequences of taxing ten thirty, one or making it even so that ten thirty ones aren't going to be viable options for people over a certain income. Limit is going to be who knows what, but it's not good, so just keep that in mind. The motivation away that residential and commercial real estate agents had working with those clients because they had a deadline, they were working rate. What these what these laws to have tendency to do? These tax coats attended to do. is they write it and they pass them such. You know well. It's only affecting people that are really richer. It's only affecting this thing and what they do. Is They just slowly? Draw the limits down so it starts out. Let's say maybe four hundred, and then after a while then they reduced it to to fifty. Fifty and then by the way there's no ten thirty one's anymore. That's how these types of deals typically worked so just be aware of it. Remember prepared for the worst hoping for the best and the also in Jillian again on last Sunday. We're talking about all the ways that they're gonNA be increasing property taxes and I've been seeing more and more articles coming out I set. Set Up Google alerts for for most of the cities in the country, and all the local cities that I follow all the biggest real estate markets in the country. They're all talking about regardless of what's going on their local economy. Every single one of them is putting raising property taxes as their number one to do on their number one item on their to do list. To again, try to make up shortfalls from the reduce sales tax from the fact that people haven't been out spending money like they have in. Businesses haven't been paying the taxes like they have so these types of things are getting pushed back on property owners so property as a essentially a Goto form of wealth. I think building in the United States is going to be if it's not already under real attack, so just be aware of it I'm not casting dispersions, one way or the other of being political I'm just letting you know that the investment thesis of buying a bunch of investment properties that certainly Julian. I followed over our lifetime. So far is maybe not going to be as valid as was over the past twenty five years to join and I've been buying properties now. The second article has definitely an ominous. Title, but it's important that you understand it because it's relevant for more than just New, York, city, which is prominently about. And this is from NBC. Yes, and here's the headline. A second great depression unemployment crisis hits big cities hard. The unemployment rate in New York rose to twenty point four percent in June. Even as the broader countries numbers improved, Los Angeles has a nineteen point five percent jobless rate remember that L. as the fifth largest economy in the entire world. So this is significant not. Not to mention New York Great Depression levels of unemployment has hit some of the country's biggest cities Let's see barometer of financial hardship. It's this. These numbers are double the national peak during the financial crisis of two thousand, eight nine, and a level last unseen since the nineteen thirties when the country was in the throes of the worst economic downturn in the industrial era. So again, New York and La hit the hardest. The nation's largest city is New York and major tourism entertainment hub that supports thousands of jobs in a service economy that's been ravaged by the coronavirus pandemic. Let's see goes on to do a lot. More statistics okay so contrast that with the overall unemployment rate, which actually fell, but it still at eleven point one percent that was at fourteen point seven percent in April. Largely driven by furloughed workers being recalled to their jobs, estates began reopening their economies. Now we all know that we're also shutting some of those back down, so we'll have to wait and see what the real numbers are. The moral of the story is there's going to be another stimulus package. That's going to be released in August I think it's going to get past this week or next week. There is going to be enhanced unemployment so the big you know, guess what guys we predicted this back in. March that we said that the enhanced employment that was not going to go away that it was going to be especially because there was an election. Year is going to continue, and it's going to and. That we had which is looking like it's going to actually happen is they're going to have another round of money all right so if you missed that on now on the first time. You'd better be paying attention to a Jewish reading something. Her jaw just fell open. What is it joy? Headline was L. and New York. Las Vegas had the highest unemployment rate of any Metro area in May twenty nine percent. My Gosh, wow, okay, and they also guys pay attention metro areas of Seattle. Miami Cleveland and Houston are also on the list, so I think this will be largely localized. You're going to have to know your own situation well, but here's the thing about this. Though if you have these big cities in these big employment hubs, the United States which are having essentially what they're calling depression era levels of unemployment. There's no way that's not going to affect the rest of the country. It just so. Again, trying to get you guys to hope stay hoping for the best, but you got to move onto preparing for the worst, because there's every reason to believe as core logic, and many others have been predicting that next year definitely going to be a decidedly different market and The next year to find out if all these experts are right, make sure you're preparing yourself now the easiest and quickest way for you to do this and also by the way to find out about the enhanced unemployment. They find out about the ideal loan. All these different things is to join our free. That's right free as a no charge coaching program that we watched at the beginning of the pandemic. And all you have to do is text the word survival, two, three, one, nine nine six text, the word survival, three, nine, nine six, and we'll text you back a link in. Just click the link in your in your SMS and then you'll be sent directly to the website you set up your credentials and the next thing you know you can log into the website and you're good to go, and then you're. You're a member of our free coaching program on this is a version of our normal coaching program, but it's a great place for you to get started and when you're there. The first thing I want you to do is go click on the title that says Ultimate Agent Survival Guide in in that ultimate agent. Survival Guide is all the drill down information all the different programs including mortgage for balances that we beg. And jump on urgently, so make sure you're doing that, and then you're also going to see our ninety massive action plan. You're also going to be entitled to a Free Coaching call all kinds of great stuff that we have little Easter eggs as they call. That are waiting for you, so makes you text the word survival, two, three, one, nine, nine, six, all right Julie. Let's get back to our points way all that will be updated if there's a notion that comes out if this tax thing for investors gets messed around with then we're going to let you know exactly what it is, and we don't just report on it or give coaching. Call we actually. Actually give you the facts so that you can have that ready to rumble all right so back to our topic things to never ever say to yourself or to somebody else, and let's even means just in your head, not even out loud. The next one is This is a good one. They got the listing because they knew the seller I don't think he covered. Yesterday's. You know, but we've talked about that before. And essentially what? This is an agent making excuses for essentially not being good enough to earn the listing Jillian Iron Hawaii, a couple January's ago, and in front of this group of top producing agents and one of the agents in the room. Essentially raised his hand. Very nice guy asked why he didn't get this listing, and then he gave his explanation and what he did what he didn't. Do you know just sort of like? Saying! I did all the stuff and I didn't get it. And the answer and the obvious answer was and his his rationalization for not having gotten listing. You remember this by the way. Remember was it because they knew him? That was his rationalization. Well, the seller must have known the other agent and I said No. That isn't the reason that the other agent got the listing the other. Asian got the listening because they in the of the seller were more deserving of the listing and other agent did a better job of selling them as selling the seller into as to why they should list with them opposed to you. You basically got beat. That's what happened and so that's a real cutting through the bullshit way of looking at loss. Loss, because if you just say, I didn't get the listing. Because of the fact that other agent had an inroad many times. That will be true. They will have inroads in. You might be the one with the in Rhode, but that itself in a market like this will not guarantee you a listing in if you lose in an environment like this, it's because you did not win. In other words, you did not earn the right to be the choice of the seller because you didn't have the skill set. Don't be fooled into thinking that agents with. Inside relationships with sellers in a market like this were real, true skills are going to be needed are going to win as often as they say in the seller's market where the seller snow pretty much, everything sells itself by just putting it in the lesson putting up for sale. Even if it's overpriced, right? She guys gotta realize. All the rules are changing next point Julie. Yes, we talked about this on our series. About moral obligation to be rich money is the root of all evil. Okay, so the next thing you. You guys say a lot to yourselves as money is the root of all evil, and we did a long series of podcast just recently on this very essentially really evil thing that you can say to yourself in. How can that possibly be true? But if you believe that's true and again, go back and listen to past podcasts on that on this topic, but if you believe that money is the root of all evil than if you even have that bouncing around your head, let alone sad or even just say flippantly. Of you actually wanting to pursue being rich where your money works, view you no longer work for your money. Rich that word is. It's almost like a caustic word right now. Isn't it I mean I was just reading another article actually. I don't even know if I still have it up. There passing the new. York, city and specifically, and this is unbelievable. They're trying to pass a tax in the name of the taxes with the unbelievable part is. Is this like the bastard billionaires tax or something I? Don't even remember it was and essentially they're trying to pass a tax on people that have networks over a billion dollars, just specifically focusing on in the name of the tax that they come up with it seriously was. You owe it to us. We're taking back, 'cause you stole it from us. Tax kind of thing so so that they're basically feeding into belief that in order for a rich person to be rich. They had to have taken from somebody else right. Versus, the reality of it is the reason a rich person has richest because they created something that other people were willing to pay for in other willing to people willing to pay for and such a quantity that basically made them in the case of that a billionaire. That's not something when you see a billionaire. A person's a billionaire millionaire. Because the fact that they've done something in their lifetimes to merit other people wanting to do business with them at such a quantity that they have been able to become wealthy. Don't think for a second. It's because they all inherited. That's the next thing that comes to their minds. It's on my list, actually true. It's not true, and and furthermore with regards to the belief that essentially rich people are evil. If you believe that you're never gonna be rich in if all your friends and family are like that. In everyone year round thanks and says stuff like that. WHY WOULD YOU WANNA BE? Something was the antithesis of what they believe you won't so here's really a very simple definition of rich a rich were. Your money works for you and you have to work for your money. You can be rich if you have enough money coming in every single month to cover all your personal overhead, and then ideally a personal overhead plus a little, so you can have a little bit of fine, but that's rich, so if you're rich when you earn your rich when I'm giving you this definition, because it truly is the bottom line, you could have a billion dollars. But if you had. Ten thousand dollars a month, and that's all you really needed to basically pay. Your bills would be super comfortable. That was just the lifestyle that you had that. Extra money really doesn't really have a direct impact on your life now, generally speaking. If you had that much money you can use that might have mazing impacts and other people's lives, but you could have just had the same ten thousand a month in the same quality of life, and you know obviously, there's not very many billionaires live on ten thousand a month, but you. Hopefully you're getting my point, so if at the end of the day you need ten, thousand, seventy, five, hundred seventy five hundreds of. Of Magic number for most of you, if you need seventy, five hundred to be rich where you money works, you draft work for your money. That is your goal. Because once you obtain that goal, you're going to be financially free and such that you won't have to. The the omnipresent burden of having to earn money is not going to be on your shoulders all the time. Not Suggesting you'll stop working nightmare remotely saying that I'm saying the nature of the work you do and who you choose to do work for. We'll change when you do. Have that passive income coming in. Do you have time for another point today? I do just one more. Let's see. Well. We've talked about this, too. Mar More money won't make me happy headless. Let's do I have to feel passionate about my work to succeed. That's a big dark hole, isn't it? Yeah, you're so. The more money won't make me happy. We just rolled it into the previous point. Yeah okay. All right. We hear that a lot, so do you guys really believe that you have to be passionate to be successful at something to be really good at something? Do you really believe that's necessary I? Know a lot of you do because. You're still plugged in by the way that's now I've I've read about that in the rule book in both versions of it but I. Think even the treasure map did I think. You know I'm not passionate about it. So how could I? How could I ever become a good salesperson? Because it's just not my passion, it's not my my hobby or something I think about all the time and again I wrote about this a lot in the bucket, but basically what happened is I met a whole lot of people at one of the Howard Brinton things that we went to WHO. were very passionate about other things, but also extremely successful at real estate, and that unlocked. Thought for me that you know what maybe what you're truly passionate about will be a lot more fun to do when you're not struggling for an income anymore. You know and I. Was Music. I've known a lot of musicians that had plenty of passion for it, but got ruined to it because they had to earn a living from it so short version. Premier and you can read the long version. Harris rules, which is still remains a bestseller on Amazon and Barnes and noble, if not picked up that book and of two weeks ago, it is available at audible is well. Harris rules in almost I think four hundred or over four hundred five star reviews now and Julia have a great premiere. Touching session does if you've Ever Angeles Premiere Coaching Program Make sure you attend the call live every day. She's literally walking to her office to start bat session now, so let's talk about this passion thing because the passion thing. Thing is really very confusing because everyone believes that like you, find your passion in life in the money will fall. That's complete bullshit. All you have to do to realize bolstered as like. Let's say for example. Your passion was I. Mean this morning Jillian. I went snorkeling in the ocean. We did that with Zoe. We tried you that every morning. And that's how we like to start our day, so if I had a passion for snorkeling the ocean, just screwing around the beach. That's what my passion was house the money going to follow. Are you think being? To snidey. Maybe let's look at it this way. What if your passion was painting rate? You're passion is paining. Oil Paints drawing I used to have. A passion was kid for art, but then you quickly realize that your art isn't going to sell. Your art isn't going to make you money, and there's a billion starving artists, and all these people believe that if they followed their passions, eventually, the money would follow. How many do you think actually follow their passions and have the money follow? It's virtually none but how many wasted their lives thinking if they just stuck at it that their money would fall, but tim. They're happy while they were doing the art even though they didn't have any money. No, they weren't because they were always worried about not having any money now what they should have done is they should have access done something a career path you guys do or maybe a doctor or something you know where our business owner of different variety do something for the sake of basically helping other people that turns A. A nice profit and then reinvesting that money into something that produces passive income. So then you're rich or your money works for you. You know had to work for your money. Then follow your passion. Vol Your Passion when it can be not something you have to hopefully one day be able to pay bills off of, but the ultimate problem with the whole idea that you have to be feel passionate about. About whatever it is that you're doing and her. If you'd be successful is because passion is a fleeting emotion, passion comes and goes. You know I'm not talking about love I'm talking about basically feeling motivated right? I mean passion, which you guys are really willing to believing that you have to experience is is just an emotion it comes and goes with your ramones. It comes and goes with the weather it comes. Comes and goes with the people. You're around the thoughts that you're bouncing around your head passionate, not something depend your long term business plan on, because it is not going to actually get into the end zone if you're only going to work at the highest level when you feel passionate, you're never going to work at the highest level because you don't feel passionate enough. There are so few people like no. No people that actually are truly passionate about what they do and yet they're the best at what they do because they've gotten really good at it. And maybe they started out having maybe for a year. They're passionate about it, but then eventually what happened they develop mastery, and now that mastery essentially, even though they're not really having much interest in what they're doing at the same level anymore. They've gotten really good. Good at it, and because they've gotten really good at it, their customers or you know repeating and you know sending them referrals in. They're becoming more and more financially successful. They stick with it, and then they find themselves one day passionless, and then we here's what I've seen with agents before they say. Oh, my Gosh I. Don't have passion for what I'm doing. Something must be wrong with me and then. Then they screw up their businesses that happens a lot or they screw up their marriages that happens a lot or their health or their fance's. You do not have to be passionate to be successful to be the most successful, the most celebrated person in your particular career path in the world. Passion is an emotion in his comes and goes which you really have do is you have to primarily have a mindset? Mindset of service to other people, if that is your route software, if that is your route motivation being of service to other people, what you'll discover is that it's a pleasure night, a passion being of service to other people continuously so then your quest is going to be able to service more people in order to service more people. You'RE GONNA. have to become better at what it is that you your? Chosen career path that's called skills, and then what you can do from the money you make as you become wealthier, then you can spend that money on the things that you are passionate about. That's the way real life works not this sort of oversimplified romantic notion that you just. Decide that I'm going to be the greatest I don't even know. What in the basket weaver in the world and I know because I believe that follow your passion, and the money will fall well. You'RE GONNA go to the grave, having made a bunch of beautiful baskets and being broke and wondering what the heck did you do wrong, and that's just it's be basically followed released. Silly advice. That's really the bottom line doing what you don't want to do when you don't want to do it. At the highest level is the ultimate route to financial freedom is the ultimate route to a life where you can spend. Spoil yourself focusing on your passions. That's really the truth. You guys should all remember that and write that down. I Know A long-term coaching clients. You guys have all internalized that key to ever ever-increasing long-term levels of success is doing what you WanNa. Do when you don't want to do it at the highest level, which is the exact opposite. If all your passion, the money will follow okay I. Mean You guys get it? You see how we're practical or. Or tactical or staying drilled down, we're not preaching were pseudoscience. We're telling you guys the truth of what it takes to actually build a business, worth owning and a life worth living, so if you guys need me for anything, I'd love to talk with you about joining E. X. P. Group. Please feel free to text me at five, one, two, seven, five, eight, zero, two, zero six. If you want to talk with me directly about joining. Julian is XP. Jillian are in X. and we'd love to talk to you about the XP. Just text me directly five onto seven, five eight Oh two Oh six meantime. You guys have a fantastic day and we'll talk with you on the show tomorrow. This program has been a presentation by Tim and Julie Harris Real. Estate Coaching for more information on real estate coaching and training programs. visit our website at Tim and Julie Harris Dot Com. Remember to tune in weekdays at noon for upcoming shows until next time. Thank you for listening to Real Estate Coaching radio with Tim and Julie Harris.

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