Q3 Business Planning in 30 min

FULL AUDIO TRANSCRIPTION: 

0:00
I am super excited to be with you today talking about the untold opportunities of a market shift, we’re going to make this short and sweet, I promise to bring big value to you, and some very specific takeaways. So that you can get moving into ensuring that you tap into these untold opportunities that are a part of a market shift. So as many of you know, I coach both real estate agents as well as title professionals. And in the process of so doing, I’ve been talking with executives of large corporations, leaders of big teams, I’ve been talking with them individual real estate agents, that both are smaller producers, as well as larger producers, really been getting my finger on the pulse, as well as just listening to economists and other real estate industry bonafide thought leaders on what’s happening in our market and how we can best position ourselves to take advantage of the opportunities. And I think that’s really what I want emphasize right now is that there, there, there are so many people that are focused on playing defense right now of insulating themselves upon the risks of moving into a shift. And I think those that will be most happy. And those who will benefit the most are those that will actually spend more of their time focusing on what are the opportunities, anytime that you can be on offense, you’re in a great spot. So let’s go ahead and dive right in, I want to share a number of of personal lessons, the one major outcome that is going to come about to those that go into this properly, is that you’re going to be happy. That’s an interesting promise, Justin, I’m gonna talk about real estate, you’re talking about happiness.

1:36
I really believe that it’s hard to separate work from your personal life. And at the end of the day, everybody wants to be happy, right. That’s why we do what we do to earn the kind of income and have the resources that we have to be able to have the time freedom to be able to enjoy those resources. Ultimately, we everybody does, everybody is driven by wanting to be happy to find something that makes them happy. And I’ll tell you this, that if you do this, right, a major outcome of this market shift will be that you will leave the other side more happy than when you entered. It’s a pretty big promise, isn’t it? I’m excited to share with you my reasoning and grounding behind saying that. So why do I say what do I say that you’re going to be happy, happier, that he’s number one you’re going to grow, you will not thrive in this market without growth. And if you’re like me, and I believe that you’re inside of the the successful real estate agents Facebook group, because you want to grow, there’s no other reason. You’re here because you want to grow. And the reality is, when we grow, we’re happy. Let me give an example. I had an accounting teacher in college, he hit it out of the park, as a, as a professional sold a big company exited, and had no need to work for the rest of his life. He did nothing but golf. His name was norm nemuro, for any of you that are maybe come from the same school that I do. And he shared the story that after about a year and a half of doing nothing but playing golf, he was miserable, miserable, keep in mind that he has no needs anymore. Everything’s taken care of like he has no reason to want now, how many times have we wondered in our hearts? Like, wouldn’t it be nice to have zero financial concerns? Wouldn’t it be nice to be done to set up for life? I think that I’d be happy. He reported to those of us that were his class, he said I was never more miserable in my entire life. And he said, because it wasn’t growing. And so when we look at what do we really want to life, the reality is we want to be happy period, we want to be happy.I

3:46
And he said in that process, Ricky, thank you so much for being here. In the process of contributing again, and growing again, he

4:10
became very, very happy. So that’s the first thing is in a market shift. The only people that thrive are those that grow and when we grow we are happy. Okay. The second reason why I know you’re going to be happy is because you are going to help people. You guys the reality is the market is changing. And anytime there are changes when there’s an unexpected where people don’t know where this is going to go. They need help. And when people need help, and we can help them. We feel good inside. Actually just had my dear aunt lives in California by the way if anybody here is listening to this that works in the Livermore California market, please reach out to me. Now my my dear aunt is looking for a referral to a great real estate agent so Livermore, California, please let me know. And I’d love to have a conversation with you. So anyway, she comes to me she’s Look, I’m a little concerned, we were going to sell our house in the next year, however, we feel like we may need to sell now, not knowing what’s ahead of us and rent for the next six months to year to year and a half. So that we preserve as much money as possible, so that we can have enough money to build the home where we want to build the home. And that gives us them the opportunity to take care of our are like the rest of our lives. Look at this, get right in there live in your area. I love it. Look at this, how cool is this? We’d love to have a conversation with you please private message me, we’ll have a conversation about it. So my point in all of this is that my aunt is reaching out to me to say, look, I’m concerned, this is what we’re trying to do. I’m concerned that the market is not going to cooperate. We need help. Okay. Now, anytime you and I were wired the same, we got into this industry because we love to help people and we know we can help people. One thing is for sure that in the previous market, in many cases, people did not need as much help as they need now the market was going up up up, sellers knew what to expect like that they were going to get a higher higher price. Right? And maybe there were, you could argue that there was less help needed then than there is now. Right? Anytime there’s, it’s you can’t predict exactly what’s gonna happen. People need leadership, they need help. So that’s my grounding is that number one, you are going to leave this market shift happier because you’re going to grow because you’re gonna help people. Okay, now, how do we position ourselves for growth? And for helping other people? That’s exactly what I want to talk about. Next. Okay, I want to share, I want you to look at this picture here. Do I look happy here? Do I look like I’m having a good time? No, right? It hurts right here. So for those that don’t know, a couple of weeks ago, my 14 year old son and I did what’s called the Goggins challenge, which is we ran four miles every four hours for 48 hours. It was very hard, much more difficult for me, a middle aged man compared to my 14 year old son. And there were times where I was like, What am I doing? This was actually a picture during the day when the rest of my family was awake, where they could take the picture. There were other times where it was the middle of the night, I just finally got to sleep. I had to wake back up and get ready to run again. It was pouring down rain. For most of it. This was the driest race. And it was hard. I’ll tell you what, it was uncomfortable. Okay, so the first area where you’re going to grow is in your mindset, you are going to figure out like, Hey, this is a little bit uncomfortable. But I can but I’m not going to give up. But there were times where I was like, Corbin, are you injured? Or are you hurt? Like, let’s excusive. So I don’t want you to get injured. I was looking for a way out through him. He’s like, No, I’m fine. Dad, he’s gonna laugh at me like that. No, we’re not. We’re not stopping embarrassing it. Anyway, the point is, my mindset got more difficult this morning, I was out for a run, I ran faster than I have a long time. And there were times where I was like, I should just stop and walk. And I verbally out loud said, no, stop.

8:06
I’m not going to stop. Right people around me. I don’t think they could hear me. But it might have been a little awkward for them. But I was training myself that when it gets uncomfortable to not stop, okay, I said you’re going to be happy. I didn’t say you’re going to be totally comfortable. There is a difference. Okay, now I want to show you this next slide. Because Because I persisted through that, I got to have this experience right here, where my son and I were standing just completed all 48 miles in less than 48 hours. And it was very difficult. Like it was it was very painful during at this moment here, there was joy, like I was ecstatic. I knew that I had become somebody more I had become somebody different. Now if you want some practice on doing this, I’m gonna go do your favorite physical exercise, running, swimming, biking. Get to the point to where Ouch, this hurts. Now, I’m not talking about injury, I’m talking about discomfort in, in like, like discomfort, and say and when you want to quit, whether it’s push ups, sit ups, I don’t care what it is, then when you’re like I’m done, I want you to say no, I’m not done, I’m going to keep going. What’s going to happen there, you’re going to be training yourself to be okay with being a little bit uncomfortable. Okay, this is what’s going to happen in this market is that it’s going to be different. It’s going to be it’s going to be a little uncomfortable. And it’s going to be important for you to be able to be okay with that. Because many agents are going to be uncomfortable with that and they’re going to be leaving, they’re going to be getting out of the business going back to the safety of a safe and secure job. And there is going to be big opportunity for you as you push through. Thank you for that comment. That’s exactly right as you push through. That’s exactly what you’re gonna have isn’t experienced like this. Now this picture has been shared all over the internet. And it’s I would not have been able to share that others would not have been able to share that other would not have been inspired, my family wouldn’t have been inspired, we wouldn’t have had that cool story. Had we not been okay with being uncomfortable. So I’m telling you, there are bigger and better and greater things on this other side of a little bit of discomfort. So train yourself to start to be a little bit okay with, Hey, this is different. This is this is not what I’m used to. This is, but But it’s okay, I’m okay here, right? I’m okay, things are gonna be fine. All right. The other thing where you are going to grow is in your skill set. There has been a bit of a tendency over the past number of years, for us to have a little bit sloppy business practices. Because the market was so predictable and going up, that we could get away with some things that, that maybe the market kind of covered up some of our sloppiness, okay, and we’re all guilty of this. So there’s going to be an improved skill set the ability to better communicate, to manage expectations, to generate leads to follow up, they’re gonna go through some of these specifically, but you are going to have better skills that’s going to help you to grow, okay? And then you’re gonna experience business growth, as you focus on being okay with being uncomfortable and developing that mindset to say, hey, I can I’m alright, I’m alright. I’m just fine. Right? I’m okay with this. I’m okay with this discomfort, I got this. And then you focus in on developing your skills, the essential skills that help real estate agents to thrive. As you develop those skills, your business will follow suit, you will start to see opportunities come your way. Some of the biggest and baddest and best agents in our industry right now. Were made in 2007 2008 2009 2010. They closed hundreds of homes. Okay, maybe not right at first. But especially as the market started to grow again, they were positioned, they had their beautiful systems in place, they had a killer mindset, they had a killer skill set. And so then their business followed suit. Some agents who were nobodies before figured out unique positioning inside of that market and captured huge opportunity, we’re going to talk about some of that as well. Okay, so that’s the result of a great mindset, great skill set is that you really start to grow in your business follow suit. Okay.

12:36
So let’s talk about some of the areas where you’ll need to focus or that you’ll start to see your business grow, and areas where you are going to want to focus. Okay, number one is you’re going to need more leads. Okay, now, knowing me, right, those that know me, well know that I prefer referrals over leads. Okay. So when I say better leads, I really mean better referrals, more referrals. Okay. So what does that look like? Now, you might have been able to say, if I had x number of people in my pipeline before, I probably need to have that number, I probably need to have more, maybe potentially even in in escrow in the given time, you might have said, Okay, I’ve got five in escrow right now, that’s gonna get me to my goals, you might need to say, You know what, for me to feel, actually, to reach my goals, I might need to have six or seven, because there might be some that are falling out, okay? Just know that you’re going to need to produce more and better leads better leads will stick longer, right, you’ll probably need less of those if they truly are better. So again, for those that know me, well, there is one way and in fact, I just had a conversation yesterday with one of the most influential leaders in real estate. And he said that it’s important to recognize that during these times, oftentimes people think that a great strategy is to keep adding more and more lead sources. Oh, it’s only 3300 bucks a month. I’ll just add that, oh, that doesn’t cost much. I’ll just add that. That’s not necessarily the right answer. It might be like, what are the one two or max three pillars of leads coming into my business? And I’m going to get great at those. Number one, I’m going to decide even before I get rid of them that these are leads that I love. These are people that I want to help. Right? And it starts with that, like, who are the people that I really want to help and I can help. And then we say what are the best lead sources to get me to those, and I’m going to go deep on that many times, we just scratched the surface of 4567 different lead sources. And they were kind of stuck at all of them, right? We’re kind of stuck at all if we don’t actually get good, but we’ll actually get good at any of them. Like we need mastery. This market is going to require mastery. Okay? Which means you probably need to go deep as opposed to why so when I say more leads, I don’t necessarily mean more lead sources. I just mean that you’re You’re going to need to choose be more choosy about which ones and then go really deep get really great at those. Okay? Now, one way to get better leads, for those that are familiar with the upstream model is it many agents are fishing all out of the same stream, right, and it’s very competitive. And agents are cutting their fees, and they’re willing to drop everything be at a vacation or family dinner and run to open a door. Okay, now, you may be okay playing with like that, playing that way, I don’t think you need to. Okay, I do believe you can still maintain the highest levels of professionalism and service without sacrificing everything else that matters most. It does matter, however, how you get to the client. Okay, if you walk through the door into a client’s life that is online lead, just know that you are easily dispensable, they can easily go back to that and find somebody else through that same portal. However, if you walk into somebody’s life, through their trusted financial advisor, through their trusted CPA through their trusted insurance agent, that is a much better door to walk through number one, as you can see from the image here, you’re getting there earlier, you’re fishing with a net instead of a pole, and you’re there long before your competition ever gets there. If you don’t, if you wait downstream, then you got to deal with being a commodity of being something that people can easily replace. So if you don’t have other business professionals as one of your key pillars, then we you and I had a talk because there is a real opportunity that I’m helping dozens and dozens of agents right now to expose and identify and create a warm referral flow. Okay, so that’s one way for you to really get better leads and more leads, right? For follow up and better follow up. Somebody might be saying Justin, I don’t have interest in the referral game.

17:05
I’m like I’m a leads person i My business is set up for leads. And that’s what I want to do. I’ll tell you this is that either you better really commit to following up, or you better outsource it to somebody is I have a friend in the business that has the most impressive business model that I’ve found around online leads, they generate the leads, and then they actually follow up with the leads all the way until it becomes a warm phone call to you and different than Zillow, they are building your database, they don’t own the content. They don’t own that database. They’re building it for you. That’s a big differentiator. One particular agent had killed it with Zillow agent I’m very close with killed it with Zillow. Last month, she had one lead from Zillow, like it was drying up. Whereas her new partner who’s a friend of mine that I can make an introduction to by the way, his name’s Cody, okay, I can introduce you to Cody, Cody has a business where they full on follow up with your with these leads, until they’re ready to have an appointment. Okay, so you pay them a small fee per month. And then depending upon what level you’re at, you may pay them a per appointment fee, which all day long if they’re good appointments, right? So if you’re interested in that, I’ll give you an opportunity to chat with me after this, to where I can make an introduction there. Okay, I really believe that, that if you’re the least business, you’re gonna have to do it right, you’re gonna have to do it really right in this market. And it can’t be necessarily just you follow these people, you don’t have the time. You need to find either good teammates in house or you need to outsource it. And I’ve got a great outsource partner to help you with that if that’s your game. Okay, more systems, better systems. One of the things that happens when the market is free flowing is that we get a little sloppy, we realize if we don’t follow up with somebody, well, if we don’t have a good system to cultivate our sphere, it’s okay, there’s more business out there. And it’s kind of abundance mentality, because we can now I believe entirely in the abundance mentality. However, I do believe that an abundance mentality also requires you to have your T’s crossed and your eyes dotted. In other words, there will be people in your database, who will choose another real estate agents simply because you don’t have the right nurturing systems in place. Okay. If you feel like that’s your it’s like man, I’ve I’ve gotten away with not having a really tight CRM. I’ve gotten away with not sending multiple emails a month. I’ve gotten away with not really being present on other people’s social mediums. I’ve really gotten away from doing a wealth review for my clients and annual basis these things that you’ve heard about the life you just haven’t made time for. If that’s you, now’s the time. Like you’ve got to get those systems in place. The

19:59
beautiful thing is Me and my team actually help people do that. We’ll talk about that here in just a second as well. But again, more systems, better systems, we just have to be better guys, we just have to be better, right? Which is okay, so if any of this has read has resonated with you, right? If you’re like, you know what? I want some mindset help. Like, I like what you’re saying here, Justin. But I really feel like, I don’t I don’t know how to do this. I don’t know, I don’t like being uncomfortable. And I quickly find myself kind of navigating around discomfort, and I love so like a conversation around that, then just type in the comments, let’s chat, I’d be happy to have a conversation with you about how we help people do that. If you’re a person that’s like, you know what, I need more and better leads. Let’s talk about that. Whether you’re warm referral, and you want help finding upstream partners, right, some of these professionals I mentioned CPAs, attorneys, financial advisors, insurance agents, property managers, if you want help really unlocking that, again, just put the comments, let’s chat, we’ll set up a quick time just to kind of see where you’re at, see how I can best help you. Or if you’re like, Justin, I’m in the leads game, my business is set up for leads, I want more leads, I’m not really into the referral game, I’d prefer leads that I have a relationship that I can refer you to, that will help you do that as well. And if you’re in the last quadrant we talked about is having really, you need better systems. And you know, you’re not the systems person. Keep in mind, guys, I’m not the systems person, I’ve hired key implementers that are great at systems that help us with our systems, and also help our clients with their systems, not just tell you what to do, they open up a zoom and they do it with you. Okay, that’s unique. That’s what makes us different. That’s what we do. So if any of that is of interest to you just put let’s chat at the bottom, I will say this, there are opportunities that if you look for them, you will see them. Okay, now, um, just as a little added bonus here, what I want to do is share some of the specifics. Okay. So for example, we have had people buying homes at the edge of their income. And now the price, the cost of living is going up crazy. There are people that can’t afford their home, there are people that are going to foreclose, okay, those foreclosure opportunities are coming. That’s an untold opportunity. Another opportunity is that you have sellers who have their heart set on getting this much for their home. And it’s just not realistic. When interest rates have doubled, right? doubled over the past number of months. It’s crazy. Okay, those listings are going to go expire, there’s going to be opportunities for expired listings, okay. There’s going to be opportunities for as these people as I described my aunt who’s looking for some real estate advice, right? In those situations, they’re looking for advice, they’re going to be talking to people who are trusted sources in the industry, they’re going to be talking to their financial advisors, their CPAs are going to be talking to people to try and get their head around what’s happening, and how do we insulate ourselves against a potential downturn in the market? Okay, there are opportunities with upstream partners to open the door to those people that are coming to them looking for advice. So I’m telling you, there is not only rapid opportunities for you to personally grow your mindset for you to grow your skill set, but also opportunities for you to grow your business. I would love to be a part of that. Even if it’s just referring you to a trusted source that I know will take good care of you. I would love to be a part of that. So and or I’d love to have a conversation about what we hands on do to help agents to have success. And my friends we are three minutes early, I promise 30 minutes, I’m ending early because that’s that’s kind of got like the beat is letting letting students a little bit early. So appreciate you all being here. Thank you for listening. Thanks for being a part of this. If this has been helpful, tag somebody in this in this that that is in the group or it’s not in the group, invite them in in the group that would benefit from hearing this night. One of the best ways for you to thrive in a market is to start to look around and say who else can I help? Let that start with your own peers tag them in this. Let them know that there’s some value here for them to hear and I look forward to chatting with many of you talk soon my friends have a wonderful day. And in the meantime, go think bigger talk soon.