#423- Mail-Right Show: How to be a Successful Realtor In A Difficult Market in 2024

#423- Mail-Right Show: How to be a Successful Realtor In A Difficult Market in 2024

How to be a Successful Realtor In A Difficult Market in 2024

In a dynamic real estate landscape in 2024, being a successful Realtor demands strategic thinking and adaptability. Explore innovative approaches and expert techniques in this insightful video designed for ambitious professionals like you. Stay ahead of the curve by learning to capitalize on market shifts and deliver exceptional service that propels your business forward. Take charge of your success – watch the video today for invaluable tips and inspiration.


#1 – Effective Time Blocking

#2 – Weekly Quality Newsletter

-a- property pick of the week

-b- general local property news of the week

– c- local services and business reviews


#3 – Video is King in 2024

– a -YouTube

-b- Facebook

– c – Instagram

#4 – Objection Sells Scripts: I.e. (pre-planned and practiced open-ended questions are essential to deal with ongoing objections)

#5 – Having an Effective Digital Hub And Lead Generation Platform ( having your “own” quality lead-generating website in 2024)

Episode Full Show Notes

[00:00:00.470] – Speaker 2

Where’s the week gone? God, it feels like it was only yesterday we were doing this.


[00:00:05.390] – Speaker 1

Yeah, I know. I feel the same way about it.


[00:00:08.730] – Speaker 2

Oh, my God. All right, so it’s episode 4, 2, 3. Do you count down? Could you go straight into it?


[00:00:16.560] – Speaker 1

Three, two, one. We’re back to back with lucky numbers today, ladies and gentlemen. It’s episode number 423. As I mentioned, the last episode was 422, which is lucky if you’re in numerology. This one’s just easy to remember. All we’d have to do is add one, and it would be super simple. It’s episode number 423 of the MailRight podcast. Today, we will talk about how you can succeed in a difficult market in 2024. Before the show, John creates show notes. This is probably the first time in 6 months to 12 months that I’ve asked John to go off script over anything that he’s ever submitted to us, and he has actually agreed, which is very him. We’re going to throw you some curveballs over what the show notes will be. John will decide whether or not he pivots. You’ll know why if the show notes you see are a little different than the show itself. It’s not John’s fault. In other words, it’s mine. All right. I want to dive right into this. But before we do, we’re going to do this thing that we always do, which is where, in case you need to know who we are, we’re going to introduce ourselves.


[00:01:22.500] – Speaker 1

John, why don’t you start first?


[00:01:24.090] – Speaker 2

Oh, thanks, Rob. He’s got me worried, folks. I’m the co-founder and founder of Mail-right. com. We’re CRM, a marketing platform that gets real estate agents leads through great landing pages, a great website, great email, and text messaging built into the system, and much, much more. Back over to you, Rob.


[00:01:55.860] – Speaker 1

All right. Ladies and gentlemen, my name is Robert Newman. I am the founder I’m inbound to R-E-M, which is, as far as I know, the only inbound marketing-focused real estate company in the United States. There are plenty of people that are calling themselves Inbound Lead Generators. I am proud to say that I have had the I’ve seen inbound real estate marketing for well over a decade, so long before anybody else had really decided to use it in connection to real estate. There’s a lot that goes into that. If you want to learn more about what inbound means or what the difference between this and other marketing ideas is for real estate, go to inboundrem. Com and the website will answer all your questions for you.


[00:02:38.320] – Speaker 2

All right. Robert, you’re the daddy of real estate inbound marketing.


[00:02:43.320] – Speaker 1

Oh, I love that. I love that. I’m your daddy. I’m your inbound marketing daddy. I might actually use that somewhere. I’m going to remember it.


[00:02:52.300] – Speaker 2

I thought you might like that.


[00:02:54.550] – Speaker 1

I do. All right. So ladies and gentlemen, we’re going to start off on our list here. And the first thing that John was kind enough to write down and put on the list was effective time blocking. And honestly, while I could guess what this means, I’d rather have you explain it to me, John.


[00:03:10.370] – Speaker 2

I think unless you’re going to block off a period of time every week, 2-3 hours, they’re blocked off. I don’t mean if something really urgent comes up, you got to have some degree of flexibility because in real estate and things happen. But there’s got to be some parameters, and you got to have the ability to know what’s important and what isn’t. But unless you block off some time to have a calendar system, which I like to point out that the Mailright system has inbuilt, a social media calendar system, so you can pre-populate a certain degree of your social media outreach, and also work on your newsletter, and also produce some video maybe, or you should be. It basically isn’t going to happen. Things will just turn up, or everything’s going to be done in a rush. So having effective block, and being realistic, and blocking off so much time, which is basically lead generation. I think any real estate coach that you approach or firm is going to talk about blocking time off for lead generation. Well, this is digital lead generation time. So that’s my insight into this. What’s yours, Rob?


[00:04:50.910] – Speaker 1

So I’m going to say… So I’m going to throw some curveballs and some tangents, and John’s going to have to make some additional bullet points on this list or whatever he’s going to But I’m going to say this. So effective time blocking certainly is something that every single real estate coach has probably talked to their client about ever. I agree with you. Anybody that works for any agency, whether it’s one of the ferry organizations or Bafini or anybody else, is always going to talk to you about time management. That’s essentially what John’s talking about, whether or not you do it for digital or not. Now, I’m going to add a spend to the show that’s going to remain my theme for this show, How to be a Successful Realtor in a Difficult Market in 2024, is the title of the show. How to be a successful realtor in a difficult market in 2024 is the title of I’m going to focus on what is going to seem counterintuitive to everybody, including John, probably, which is as free as I can get recommendations for each one of these categories. John, when he’s talking about the MailRight system, He’s looking at challenges that realtors has, and he’s created a lot of systemic approaches inside a system.


[00:05:51.270] – Speaker 1

As far as systems go, MailRight is one of the least expensive that you can possibly look at. It’s at the very lower end of the stack and higher end on the functionality stack. If you have some money to spend, that might be something for you to look at. But there’s going to be a lot of you listening to this show that have zero money to spend, especially in a down market. I’ve been getting a lot of calls from people like that, John, lately who just have zero. Like no dollars, like worried about $10 if I say, go get VidIQ. What can you do for free that’s effective time blocking? That falls into John’s comments. Well, there’s a lot of really cool apps out there these days. One of the ones that we’re looking at as a corporation are ones that relate to creating reels. We’ve talked about this in other shows. We’re going to talk about it again later on, so I’m not going to cover it too much. Video is king in 2024. But I’m going to say effective time blocking should also be categorically for researching apps that are low or zero cost, that do something cool for your business that relates to promoting yourself.


[00:06:56.280] – Speaker 1

Getting yourself out there is a very important There’s two sides to getting yourself out there, creating content and then getting people to see the content. You probably want to go to inboundrim. Com and see our posts on how to use hashtags to get in front of new people for the content that you’re creating. That’s idea number one. Then number two, in terms of effective time blocking for learning, because you have to know how to do this stuff, like social posts, which John just mentioned, entering things into a social calendar. Well, content creation is one skill Promoting that content organically is a second skill. I’ve noticed that realtors get stuck in an idea one or idea two. So in terms of effective time blocking, when you have more time and less money, my opinion is very simple. Learn from the people that are willing to teach you for free, which is a proliferation of them online. Now, if you’re already listening to the show, you probably trust me or John. If you do, we both have a lot of content, him on the MailRight, YouTube channels and the websites, me on the inboundrem. Com websites. You could go to either place and get our hot take on how to do some of this stuff for free.


[00:08:18.250] – Speaker 1

I strongly recommend that when you have more time than money, that you block an hour a day for learning. It’s part of this process that you teach yourself not only how to do it and when to do it, but what the most effective way is to do it. And many, many experts like me are going to be producing more content in a slower real estate market because we’re not as busy. So when we’re not as busy, we’re taking our own advice and producing more content. And because we’re producing more content, we might very well be producing content that helps you. All right, number two on your list, Weekly Quality Newsletter. Now, this, I have all sorts of stuff to say about, but why don’t you jump in? Because you were the one kind enough to create the outline for the show.


[00:09:07.760] – Speaker 2

Yeah, I think in the age of AI, and I love AI, I use it a lot because I find it really helpful in various things that I’m doing. But there’s a place for it, and there’s a place not for it. And the place for for it is your newsletter, because if you’re just going to utilize AI content, and there are platforms that come with coaching as well, that are really pushing AI to a lot of agents. They’ve got quite large Facebook groups, and they’re pushing this morphology out. And when it comes to this particular area, don’t use AI, or use AI to help you initially write something, and then edit it very strongly so it becomes more individual. And some of the topics, and you probably thinking, Well, what am I going to write about in a weekly newsletter? Well, obviously, you’re a real estate agent, so property pick of the week. What’s a hot property? And also giving a commentary why it’s a hot property, because people really want to see your competence, and they will be able to see your competence by what you say about the hot property. What do you see as the general where the local property market is?


[00:10:58.970] – Speaker 2

What’s the news views around property in your area, giving a general outline, writing about particular services that are linked to property, giving some reviews, giving some interviews, which then hopefully they will share the content with their social media tribe. These are the things that should be going into your newsletter It’s in my opinion. Over to you, Robert.


[00:11:32.790] – Speaker 1

I’m going to give everybody… Do you mind if I share my screen? For those of you who are going to be on YouTube, I’m going to share my screen for a second because I’m going to give everybody one how-to super fast, rock solid. Quality news updates are oftentimes a hot take on things that anybody can search. But me, I am not a realtor. I’m a real estate marketing guy, so I have a lot to say about a lot of what John just said. For instance, you said, Don’t use AI. Well, I’m here to drop a super fast update in the middle of the podcast that’s a little tangential. In March, Google handed out more manual penalties than any time in recent memory, like the last 18 months. What’s happening is that Google search quality people are really starting to hammer down on websites whose content appears to be made for SEO, and they’re not saying it directly, but it obviously is reflecting an idea that AI is generating a lot of lower quality content, and they’re starting to hammer away at penalties. Now, they’re doing it manually so far, but all of their helpful content updates, which have been in place for the last 12 months, have been handing out penalty after penalty for websites that are really not customizing their information for the user and are really more customizing it for the search engines.


[00:12:52.200] – Speaker 1

I think this is a trend that’s going to continue, and you need to be really careful about where and how you apply AI if you have any interest whatsoever in SEO. Having said that, updates, newsletters. I’m going to share my screen here real quick, assuming I’m allowed. I think you are. Okay, here we go. I did a quick search. That was real estate news updates, VanEyes. The very first website on the hit was Rocket. Rocket is a financial app. I use it. It’s free. If you haven’t used it, check it out. You’ll understand why it’s so important and relevant. They are doing an incredibly good job. They have probably a billion dollars worth of backing. What they’re doing is they’ve created a financial app where guys like me can, at a glance, look at every single place they’ve ever spent their money on a free app. Cost me nothing. But the trade-off is they’re sending you updates like this into your inbox. This update is saying that we’re right on the edge of a seller’s market versus a neutral market. If I was a real estate agent doing a weekly or quarterly blog update or newsletter or anything, I would be in here going tab to tab, giving my particular take.


[00:14:07.380] – Speaker 1

I’m going to give everybody an example, including John. I’m noticing that this is saying that the price difference since one year ago is 4.4%. Now, I’ve looked in my local market and I’ve noticed that most of the prices are declining. The house next door to me was listed for $900 about one year ago. Today, it’s listed for $820. It’s an $80,000 decrease or 10%. Most people are saying that home prices are overpriced by about 25% in California. We’ve reached a place where 90% of all homes are deeply, deeply out of the price range of most people that make an income here. Even two or three people joining in tandem cannot buy a house in California. In other words, let me put this into perspective for you. An $836,000 house with a mortgage payment attached to it is about, even after $120,000 down payment, is still $4,000 to $6,000 a month. Now, I ask all of the people listening to this show, how many people do you really think can afford, net net, a $4,000 to 6,000 dollar house payment for a 1,300 square foot bungalow. It is extremely high. I could barely afford it, and I make way more than the average person does.


[00:15:30.160] – Speaker 1

Now, this would be an update that I would give because why? Because I deeply believe we’re about ready to slide into a neutral or buyer’s market. For those people holding on to homes who are trying to wait maybe for that last bit of value, 100% right now is the time in Vanuys to list that home and maybe make a small concession because we’re going to watch these prices dip, in my opinion, by 25%. You’re going to be stuck thinking that you lost 25% to 25% of your profit. This is the update that I would give if I was a real estate agent. That’s their advice I would give. I would do it on video, just like we’re doing it right here, and send a link out to all of my clients. Let them be the measurement of whether they agree or disagree. But that happens to be real, true things that I feel right now. I feel like maybe to a couple of people who might be holding onto a property, if they were to get that email, it might at least inspire them to call me and ask a couple of questions. I’m not saying they’re going to list their home.


[00:16:36.980] – Speaker 1

This is a tough time to consider doing that, but they might at least want to ask me some questions. Would you agree or disagree, John?


[00:16:44.310] – Speaker 2

Yeah, I totally agree.


[00:16:48.740] – Speaker 1

That’s my only comment there because I want to get into the bigger topic, I think. Actually, you know what? We’re just going to go to a break right now, really quick, folks. We really appreciate I appreciate you listening to the show. John and I come from the same spirit. We do the show for you. We want to be useful. Obviously, he wants to promote Mailright, and I want to promote Inbound R-E-M. But at the same time, the way that we both believe promotion should exist is by trying to be super helpful to you. If we’ve done that, if we’ve made an impression, do us both a favor. Give us a little bit of interaction on some of our content. We’re not asking for you to call us. We’re not asking for your business. We’re just asking that you give us a like our stuff, like on the MailRight channel. It gives us a little bit of encouragement to keep doing the show. We’ll be right back. Three, two, one. Welcome back, ladies and gentlemen, to the MailRight podcast. Today is episode number 423, and we are talking about how to be a successful realtor in a slow real estate market, effectively.


[00:17:49.130] – Speaker 1

That’s essentially what we’re talking about. The next thing on our list is the biggest subject that we’re probably going to tackle, which is video is king in 2024. Video has been king since you and I have started doing the show.


[00:18:02.180] – Speaker 2

Yeah, we’ve been hammering away for the past couple of years, haven’t we? Yeah, it’s just getting more and more important. If you really want to get any engagement. Or on most of the platforms, the social media platforms, if you really want to get engagement, you really got to produce video. And all these social media platforms, their main objective is that you produce content that gets engagement, and they want that engagement on their particular platform. They do not want you having links outside the platform, and they definitely don’t want you, like Facebook or Instagram, which I changed the spelling, Rob, because I had Instagram spelled incorrectly on my list. But Instagram or Facebook, they definitely don’t want you sharing a YouTube video link because that would take people off their platform onto YouTube. And the same with YouTube. I don’t really think YouTube want you taking people to Facebook or Instagram. They’re all the same, these platforms. They want to see your material getting more and more in engagement, which means more and more people are spending more and more time on their particular platform.


[00:19:37.370] – Speaker 1

True, very true. Video. Everything that John is saying is correct. But I’m going to add a couple of things. I agree with it. I’m seeing a lot of stuff, people I follow, influencers, whatever you want to call them, and everybody’s starting to move in the direction of audience creation and movement inside the influencer world in terms of reels and very short takes on subjects. I would say that in terms of jumping lines in the water, once you get used to creating them. This is one way, one place, John, where I strongly feel AI is relevant. There are AI editors out there that will edit 60 seconds of video for you, just as part of the app. Since it takes you 60 seconds to film it, five minutes to process it, and then the app punches out something that’s already got a whole bunch of emojis and all this stuff on it, we’re using it for our clients and discovering that it’s wildly effective for views and grabbing attention. We are using AI in that category. I am having a hard time seeing what the downside would be since it does all the cool effects on the video for you and edits it to a very small degree for you, and it does all in just a handful of minutes, which makes this reels creation process one of the easiest, most effective types of things that you can do.


[00:21:10.180] – Speaker 1

Like, anybody can learn how to do a 60-second video. You just have to figure out what you want to see. It’s like a hot take on something. It’s like, I could do 60 seconds on the rocket stuff that I just looked at, which is effectively, if you’re still a seller and you’re thinking about selling, now is the time. That’s it. I’ve juised up a little bit. Reels, in terms of video, I’m just adding that little layer. Reels are where you want to be looking at. If you already have a YouTube channel, if you’re already doing content, do not ignore spending an extra five minutes at your desk or wherever you are, setting up your little phone and recording yourself. Just make sure that you still do that. All right? Excuse me, I’m still vaguely recovering from being sick. All right. Actually, that wasn’t as long as painful as I thought it would be. Objection sells scripts. Now, pre-planned and practiced open-ended questions are important to deal with ongoing objections. Now, John is getting into what I said in number one, actual learning, coaching, the groundwork of being a salesperson. Why don’t you give your hot take on that, John?


[00:22:28.230] – Speaker 2

Yeah, I think I’ve got a bit better, and I think it was a rejection, a psychic rejection, because you can overdo this and become robotic. But on the other hand, if you got If you’re in a particular industry or you’ve got a particular set of services, which we have at Melright, which Robert has with his agency, which I have with my other business, WP Tonic, You’re going to get regular people that will engage in conversations with you, and they will probably have the same resistance, because in any service sales environment, people are looking for reasons not to hire you, because that is the safest safest position. Obviously, involvement or engagement or hiring is when you are opening yourself the most to risk. So you’re going to come across the same objections time over time over time. And if you don’t practice what you’re going to say and what’s the best best way to answer those legitimate objections, your success rate is… You’re not doing the best for yourself. And if you’re very good or you’ve got the right attitude, and you could be really useful to the people that are talking to you, you’re not even doing them a favor.


[00:24:24.870] – Speaker 2

So you’re both not doing yourselves a favor. So you really need to practice this a little bit.


[00:24:32.880] – Speaker 1

So in the spirit of, listen, I’m a lifetime salesperson.


[00:24:36.680] – Speaker 2

Yeah, you’re the expert. I’m not on this.


[00:24:38.570] – Speaker 1

I’ve done this all my life, and one of my favorite parts of running call centers, because people really underestimate the value of practicing the sales dribble. And the sales dribble is just the basic introduction. In a lot of the call centers I was in, you really don’t get any farther than the introduction. Hi, I’m so-and-so calling from such-and-such a place. We spend a lot of time practicing tonality because getting somebody to say yes to a say yes question these days involves a lot of psychological or mood-based things, Are you focused on the uptones that you have. Are you smiling? Are you having a good time on the phone? Or at least tricking people into thinking that you are? Because you have to be a really bright and pleasant personality. You’re interrupting somebody and putting them in a bad mood just by calling them, most of the time in today’s market. So uptones and downtones and things like that are things that we really practiced a lot. The pace in which you speak, mirroring, modeling. These are basic sales principles that you do when you’re doing a lot of cold calling. I love the idea of practicing this over and over again.


[00:25:52.110] – Speaker 1

All of our shifts were far more effective when we did Hot potato at the beginning of the shift, which is where we practice, drill, and rehearse objections that all of us have heard a thousand times. Why? Because it’s better to bleed in practice than die in war. You would always want to make sure that you… Like, John, you and I probably have dealt with the same objectives over and over, but if we were real serious about doing sales and really in that role all of the time, I would suggest you and I get on the phone every other day and just go, What are the things that people are bringing up to you that you didn’t feel like you had a sufficiently answer for?


[00:26:31.680] – Speaker 2

Can I just interrupt there? I think you’ve made us a fantastic point there, because what I’m suggesting is if you got a significant other supportive or somebody, is role model and just practice a discussion and just practice it and practice it and practice it. So you’re more comfortable. You are confident in the way that you answer the legitimate questions and objections that possible clientele will have. I don’t want to say that you got to become a robot, but if you can do some road play and practice, then I think you were spot on, Robert.


[00:27:23.900] – Speaker 1

I’m going to do one form of disagreement. Anybody that’s been in the sales game for a long enough period of time knows that the art of sales is oftentimes saying the same precant thing to every single time you get the same question over and over again, which is very robotic. But just like a really great actor who’s practicing their lines, Shakespeare hasn’t changed in, whatever, 1,500 years. And whatever the number is, a thousand years, whatever the number is, same script over and over again, but different people saying the same thing over and over, breathe new life into it. Tonality, practice, drilling, rehearsing, it changes the context of not what you say, but how you say it and how it’s perceived. The greatest salespeople, the best, the ones with the highest numbers, the highest performance, are ones who actually practice saying the same things over and over again. The way I practice, John, is I take non-qualified calls all day long. When I want to try something new, I try it on somebody I already know cannot buy my services. I use that as an opportunity to practice something different. They serve a purpose. I make more money in the long run because I take the time to drill and rehearse in non-result moments.


[00:28:53.130] – Speaker 1

That’s something that all of you who are listening to this podcast should be practicing. If you’re in a slow market right now, my God, guys, for those of you who generally make a pretty decent amount of money and are sweating it a little bit, there’s nothing more important than discipline. Using this time to learn some stuff, practice the old stuff, get better at it, because when the market up swings, you have a chance to make twice as much, literally, twice as much. So number 5, having an effective digital hub and lead generation platform, having your own quality lead generating website in 2024. Hit us with this one, John.


[00:29:30.960] – Speaker 2

Well, I’m talking my own book of business here, but I do believe it. I think any agent that really wants to be successful, you’re going to have to have your own website. I’m sorry. I think relying on what a brokerage provides or having a camed website, I think you need to have your own website and you should have as much ownership of it as possible. And you got to invest time and money. If you haven’t got the money, you’re going to have to put more of your own time in it. And you really I think if you’re going to be effective in the next few years, the idea that you don’t have your own platform and your own website and then have mechanism and tools that generate leads. I just don’t think you’re going to have a great time in the real estate industry. I just don’t honestly believe that. Back over to you, Robert.


[00:30:45.290] – Speaker 1

Well, I don’t disagree, but I think that real estate agents are going to fall into two buckets. There’s the bucket of agent that has been wildly successful. I have a client of mine who has been in the last 2021, 2022, has made about $700,000 a year. One could argue that that’s wildly successful. She is certainly the number one agent inside her very enclosed market because like most agents that I know that really make an extraordinarily large income, she focuses on a very small demographic. She’s number one in that very small demographic. She’s slowing down her marketing spend as her income slows, which is at the level that she She’s at is the wrong move, in my opinion. I had an agent, Diane Williams, who when the market crashed and she was already pretty much independently wealthy, she decided to invest money when every single agent, there was all the news was saying that real estate was changed forever. Nobody was thinking that banks could loan, and she went the opposite direction in terms of her personal spend. She built a massive website, and she’s made probably about $10 million off $100,000 decision 10 years prior.


[00:32:03.850] – Speaker 1

No joke, that much money. She had no competition. There’s nobody out there trying to compete or build better resources or better websites. She was in the Palm Springs area, so great market. Great strategy, applied at the right time when everybody else was dumping out. When everybody finally caught up financially and started to put money in, it was literally she had a two-year head start on everybody. If you’re one of those agents where you have some revenue and you can scrape it together, now is absolutely 100% the time you want to make a long-term bet inside your web marketing. There’s never going to be a better time. We’re going to have to wait another 10, 20 years before the market cycles like this. Everybody’s running for the hills. If you want to do the opposite and you have it, you can do it without breaking the bank or putting yourself out of business, you do the opposite. Now, Now, there’s going to be a lot of our agents who are listening to the show who are not in that category, who are in the, I’ve already barely been making it. I got into real estate when the market was already super hot.


[00:33:11.880] – Speaker 1

I’ve never lived through, never survived a down market And I’m super terrified because all of my calls and all of my referrals and everything I’ve been relying on up to this point has dried up. Now, for that agent, this market is actually probably building up your skills using tools rules that you’re not paying for, MailRight or InboundR EM. Now, MailRight is significantly less than InboundR EM. So if you wanted to check something out and you’re in this category, check John out. I’m just telling you, I am for the The other person, the one I first described, the veteran agent, that’s when you call Inbound RUM. Now is the time 100% for sure. There’s not going to be a better time. Get off the fence if you’re still on it. But if you’re the other category and you want to spend something or maybe you have a credit card that you can load up 20 grand of debt on to, then maybe check out like MailRight. Now, one thing that you all don’t want to do, every single person listening to this show where the greatest amount of risk where all of you is, is where you’re looking at really pricey systems like Ylopo or really pricey leads like Zillow or Trulia.


[00:34:23.250] – Speaker 1

Those leads just aren’t closing the same way that they are. If you’re an inexperienced salesperson, you’re getting ready to spend a lot of money on leads, you are taking a massive risk that I personally would not take. If it was me, I would not do it. Even if I was a veteran, super experienced salesperson, I would be hesitating to spend two, three grand per month on a system or a lead generation, anything, because you’re going to get a lot of objections at the end where people can’t afford it or they want to wait or people that are trying to list their homes or when they get out there and they review how much they’re going to have to spend to buy a new home, the prices are still so high. It doesn’t make sense for them to sell their home. I was just talking to a friend of mine last night who was sitting on $600,000 in profit on a condo in a okay area in Elissa Viejo. I was like, God damn, you’re sitting on a gold mine. You bought this for 300 five, six years ago, you could sell it for nine today.


[00:35:18.470] – Speaker 1

Why wouldn’t you cash out? You’re about ready to watch a whole huge amount of that profit go away. Their answer was simple. Yeah, that’s all true, and I understand that, Robert, but I can’t get anything that would even be remotely close to this for even remotely close to the price. So they’re going to sit and wait it out. You’re going to deal with a lot of people who are going to have that objection. You’re not going to be able to move them because they don’t want to deal with the… Like, John, you’re a savvy real estate investor. You don’t talk about it very often, but John is a real estate investor. I am not, which puts him way ahead of me in terms of his own personal knowledge in this category. Let me ask you a question. You probably are sitting on something, an asset that theoretically you might be able to sell right now for a huge profit. Would you do it?


[00:36:08.470] – Speaker 2

Well, I might be. It’s really dependent because it’s cash-positive, and I might be looking to buy something else because I’m looking to cash out in 10 years time. Because realistically, I went for really messy divorce 10 years ago, and I was taking to the cleaners a bit because I had a joint business with the romantic partnership. Number one tip, folks, don’t do that. That’s not good. She was much smarter than me. I’m not the bluntest tool in the toolbox, but I’m not the sharpest. She had an engineering degree from MIT, so she wasn’t a fool. These things happen, don’t they, folks? I’m looking to cash out in probably 6, 8, 10 years time if I’m still around.


[00:37:25.120] – Speaker 1

I’m still grieving. Which is enough to get us into the next cycle, but you’re not going to cash out in this cycle. That’s what I’m hearing you say. Yeah, probably not. That is my point. To everybody listening to this show, that is my point. The turbulent market that we’ve yielded right now, while it has created an on paper dearth of wealth, smarter investors are going to look at that and go, Yeah, but I can’t buy anything that isn’t 50% inflated on the other side. Yes, I can sell out. And yes, I’ll make $600,000 over what I invested. Do you know how much $600,000 cash would get you in California right now? Nothing. Not a damn thing. You could cash out, just like my friend could, Melissa Viejo. But she won’t because she’s not wrong. She has a very nice condo in a very… It’s a good area with a park outside the window. It’s not a bad thing. It’s just not luxury by any means. It’s small, but it’s in a nice area. She couldn’t even come close to getting anything comparable. She’d have to turn around and invest one point Five million, which is putting the six in and going 900 grand in debt, increasing her payment way through the roof.


[00:38:36.970] – Speaker 1

You see what I’m saying, John?


[00:38:38.280] – Speaker 2

It doesn’t- The other thing we’ve got to wrap the show-up, but I just quickly want to say, None of us knows what’s going to happen because you got to watch what’s happened internationally. And what you see, what is going on in China, is quite alarming. But the truth is, funny enough, what’s happened in Canada is the Canadian property market is in a much, much worse state than in America. But also, they managed to inflate property in Canada to a much, much higher level. And they’ve also managed to do this in Australia as well, inflating the market to an even higher level and a much longer sustained period. What I’m saying is this could go any direction because they have the ability in this market to inflate it even higher. I know that sounds crazy, but they have got the ability, and what I mean is ‘they’, those key players that would benefit the most. In the long term, that would be disastrous. So it could go in any direction. We’re in extremely volatile times for the next year or two years. It really could go any… And if anybody says they can give their opinion, an honest opinion, but nobody knows what’s going to happen, Robert.


[00:40:27.360] – Speaker 1

Exactly. And so with all this uncertainty, those new agents, you guys are the ones that are, the tip of the spear, experiencing the most upset. If history holds, a total of 30 to 50% of you will surrender your licenses before the end of the year. I believe that only the smartest ones of you listening to the show will be the ones that stop procrastinating, dive deep into blogs like mine and John’s, learn the stuff that you can learn for free, create reels, and don’t spend your money. I trust me, despite John and I promoting, neither one of us would. I promise you, if things were callous and tight, we’d stop spending because you have to as a business owner. You’d cut and stop spending. Even though we all hate reading it and living through it, you can’t blame the tech companies for tightening their belts during what they’re viewing as a rough period, coming off a high period. It’s the nature of business. It’s the nature of your business. So learn, learn, learn. Could you not take it as a?


[00:41:32.560] – Speaker 1

Do your best, meditate, run, do whatever you do, and develop some inner peace and some inner strength in the discipline to take this time as maybe one of the best times to build your skill set and learn how to generate leads for free. That’s my thought.


[00:41:46.790] – Speaker 2

The good news, Rob, is that if you’re listening to this podcast regularly, you’re probably in the top % anyway because you are interested and educating yourself. So that’s the good news, folks.


[00:42:02.360] – Speaker 1

Strong agree. Strong agree. Yeah.


[00:42:06.340] – Speaker 2

That’s the good news because most agents don’t listen to anything. They only go with what the brokerage or, seeing as an influencer, says, it’s essential that in this type of climate, you educate yourself.


[00:42:27.670] – Speaker 1

Agree. Last thing as we close Off the show, a hidden tip for those that you view the superstars who make it and something that John was not prepped for. I am also noticing one other trend that has nothing to do with anything else: I’m watching, surprisingly, eXp deflate under the weight of expectations. There’s a new brokerage out there with a solid leadership team and a fantastic CEO creating some influencer-style content that blows the mind. That’s real, R-E-A-L. It’s another digital brokerage. Their training is incredibly tight. I’m watching all my eXp people bail and go over to real almost at an astonishing rate. Inside my client list, it’s three to four without me saying anything to anybody, which is how they got put on my radar. I just saw so many people switching. Because our agency is required to change the branding on websites. If anybody’s wondering how I would see that, agents are just calling you over, and They’re changing. If any of you are looking for extra support, perhaps lower costs, or more income opportunities, that might be a spot to learn.


[00:43:41.540] – Speaker 2

Maybe we should discuss that next week, a comparison.


[00:43:45.540] – Speaker 1

If you’re down, let’s do it. Yeah, maybe that cheeses up nicely for the next show. Without any further ado, John, if anybody would like to take you up on your very salient recommendations and they fall into the category where maybe a platform, a guerrilla marketing platform like yours that does so many good things is going to be a fit for them at a price that they can afford, how would you like them to reach out to you?


[00:44:08.200] – Speaker 2

I’ll go over to Mail-right. com and have a look around, read the content on the website and look at some of the videos. Then, if you’re up for it, you can book a discussion with me, and we can have a quick talk. I’ll try to be helpful and receive a good fit. Back over to you, Rob.


[00:44:27.430] – Speaker 1

If any veteran agents who’ve been thinking about switching reaching their dependents on lead generation systems to something that you own, want to take a strategic shift in the way that they represent themselves online, become more valuable and helpful, and are willing to take a slightly longer-term view on it, then go to inboundrem. Com, look at my About page and my Services page. I have case studies, numbers, prices, and everything online, and you can always reach out to me and set an appointment after you’ve looked at that other information. Thank you so much, everybody, for tuning into the show. John and I are ever so grateful for your ears your time, and your attention. Trust me, we do not take it for granted, and we appreciate you. Thanks for tuning in.


038: Good Quality Photography With Special Guest Greg McDaniels
038: Good Quality Photography & Video is Important! 1

We discuss with our special guest Greg McDaniels the importance of quality photography connected to being a successful real estate Read more

039: Why Agents Need To Blog Regularly
038: Good Quality Photography & Video is Important! 1

Agents need to do more than blogging to get results in 2016. We discuss this during this show with our two Read more

040: We Have Special Guest Greg McDaniels
038: Good Quality Photography & Video is Important! 1

Greg McDaniel literally began his career at his father’s knee. It would not be an exaggeration to say he has Read more

041: Personal Agent Photography With Preston Zeller
038: Good Quality Photography & Video is Important! 1

Personal agent photography is really important but usually semi-forgotten. We have a great guest "Preston Zeller" on the show who recently Read more