Professional Referral Platform | Justin Stoddart

In this episode, Justin Stoddart walks through what he’s been building for the past 12+ months: a referral platform that turns real estate agents into wealth managers of their clients’ real estate portfolios. Tune in to learn how.

Full Transcript

Justin Stoddart 0:04
On today’s episode of the Think bigger real estate podcast, I share with you an important update. Here’s why this is important. Now, I had breakfast with a very dear friend of mine, someone who I’ve known since years and years ago in my days and title and escrow. And he said, Justin, I need an update on what’s happening in your world. As we sat down. And we had this conversation, I realized that there’s a lot of people who are unaware of what I’m building. And the reason why it’s so important is because afterwards, he said, what you’re building is really impressive more people need to know about this. And so today, I’m gonna share with you the property technology that we’re building to help real estate agents thrive at the highest level that is directly in sync with the book that I authored called the upstream model, we’re essentially taking that concept, the upstream model, and making it very easy to implement. So if you’ve been curious, what is Justin been up to? What is he building? What is he doing? This episode is going to be brief, and it can be very to the point it’s going to show you some technology that can really change the game for you. And getting referrals from other professionals. I’m excited to share it with you stay tuned. Today’s episode is going to be a fun one. For me, in particular, which I get to share some important updates Talk soon.

Justin Stoddart 1:13
So the big question is this. How do you those of us in the real estate industry, who have crazy amounts of ambition? How do we think bigger than the building of our own empires? How do we create success and significance, income and impact? My name is Justin Stoddart. This is my co host, Stephanie Peck. And together we bring you the big bigger real estate podcast. Alright, welcome back, everybody. I do not have my lovely co host with me here today, this is going to be a solo show. Like I said, it’s going to be brief into the point. But I’ve just realized it’s funny, actually, I was having a conversation with with Stephanie Peck, my co host and business partner. And she said, You know, it’s funny, when I tell people what you’re doing now, many of them still think you’re in Title and Escrow. And I’m like, Are you kidding me, that’s like three years ago. So if any of you have been in that same spot, like I just assume you were doing, you know, what you, you know what you did for seven years. That’s not the case anymore. In fact, in 2021, I left Title and Escrow to start my coaching company think bigger, coaching and consulting. Now, which of course goes right along with the Think bigger real estate show, it was really built on the platform of my book, The upstream model. So for the for those of you who are unaware of what my book teaches, it teaches that there is a faster and more effective and efficient way to build a referral based business. And rather than spending countless hours out building trust with countless people, it’s to build trust with one professional who already has all of the trust that you could ever want with their clients. And by adding value to that one person they opened, it opened the door for you to receive ongoing recurring referrals and relationships from from that particular professional. And then you do that again. And then you do that again. That’s what I again, what I authored in the book, the upstream model, which is right over my shoulder there. And it wasn’t about a couple years later, if not less, where I was introduced to a gentleman by the name of Don Yocum, who had the same thought process cited is that building powerful professional networks can open up your referral base business quicker than anything else. And what he shared with me was that he was building a platform called Pro insight in which he was making the application of the upstream model simple. And what I mean by that is what I had been doing, as a coach and consultant is I had been teaching the equivalent of one person on the basketball team, all of the place. And we think about that, right? If you were to teach the point, guard all the plays, but nobody else on the court knew any of the place. That’s the situation that I had been in. And I’ve been teaching real estate agents, they’ve been having some success with the model that we teach. But I realized that financial advisors are over in their corner, learning how to grow their business, tax professionals, same thing, insurance agents, same thing. Lenders, same thing. Everybody’s in their own camps, over their own practice learning different plays. Now they’re similar plays, but they’re not led by the same coach. And so what ended up happening is people weren’t getting the the effective, the effectiveness that I had anticipated that they would have. And it wasn’t till I met dawn that I realized like this is the actual strategy that needs to happen to help people to to implement the upstream model more quickly, which is to get everybody in the same room, financial advisors, insurance agents, property managers, tax professionals, estate attorneys, even trade contractors, general contractors, get them in the room and teach all of them how to do this together. Now, when you teach all the players on the team, the same plays from the same coach, guess what the plays start to work. And that’s exactly what we’ve been up to. So for the past year, plus, I’ve been leading pro insight as a founding partner, as well as the CEO of the company. And we are giddy about what’s happening is because our sales are starting to scale as our clients are getting results, meaning they’re getting referrals from other professionals. One of our clients just recently mentioned that she got three referrals from a financial advisor in the past week. And she said, just these clients for Dream clients, they shared with me that, hey, because you came recommended from Lynn will do whatever you tell us. In other words, Leonard spent a decade plus building rapport with these particular clients in an instant, that trust and that rapport had been transferred to this agent. Now, pretty cool to think about that right about what is possible in your business, if you were to simply build one powerful relationship, right, three referrals a week now, it’s going to happen every week. But you can you get the idea that these other professionals have oftentimes books of business of 500 clients. In other words, if people move once every 10 years, then that means on average, they have one person selling their home every single week of the year, not to mention probably buying another home, of course, you’re not going to get all of those. But even if you got one a month, right, and you had multiple professionals doing that this could absolutely transform your business and give you not just more business, but better business. So anyway, that’s what we’ve been working on wanted to share here really quickly before I wrap up a quick demo of of what the pro insight platform looks like. So I think this will be really interesting for those of you that are listening, and may cause some of you to say, Hey, I’d like to learn more about what it looks like to be on the platform. We do offer exclusivity by county, in highly populated counties, we offer a few more than just one professional just because there’s so many clients that they wouldn’t be able to serve. But if I were to show you what the prototype platform looks like, this is what a profile looks like. You can customize with a keen mind, this is an appetite, the app store that you could download today, it’s called the pro Insight Network, you could customize this if you’re a member, to have your own video, to have links, to have all the things that will help you to identify yourself as a key referral partner of choice. Now, if I were to go to the search function here, I could actually know for those you that are watching via video, you’ll you’ll see this for those that are listening to the audio, you’ll have to go find it on YouTube. And you’ll be able to see this but I could search literally anywhere in the country, anywhere in the country, right. And we have three production vetted real estate agents and every county in the country. Now coming into a market where you have a buyer broker agreement necessary in order to get paid, it’s going to be nice to be able to go to a referral platform where you know, people have been at least production vetted, right. And so I could do a search, for example, like in Atlanta, Georgia. And I’ll bet you didn’t know that there were that many Atlanta’s in the country. Now you do. But if I then click on Atlanta, you’ll see that it brings up a list of agents in that particular area who we have production vetted. Okay, now let’s click on for example, Ken Liberty here. Ken, you’ll see sold roughly 34 clients, and he’s a kW agent out of Fulton County, Atlanta, Georgia, I can call email or text, Ken from right here and say the app will also see that there’s direct links into his different profiles. You see, he’s got 76, five star reviews on realtor.com. You know, the kids are pretty good agent, right. So that’s a the first way that you can utilize the app is to find high producing agents right away, you’ll notice that there are no agents in our network who are under 18 transactions a year, these are only only top producers. Now, if I go to for example, let’s let’s pull up my business partner, Stephanie. So if I choose Oregon City, you’ll notice that it did not bring up a list of agents, it only brought up Stephanie’s profile. She has exclusivity over that community. Right. So she’s able to again put in a video that customizes her profile to where people can learn about her business. Additionally, oops, I went the wrong way. So additionally, if you click below, good, she’s got the link she can, she can easily identify

Justin Stoddart 9:06
additional links where where people can can get to know her and vet her. Now you’ll also notice that there’s a link down here at the bottom it says invited by, okay, this is important because we do a mastermind instead of pro insight. We do a mastermind every single week in which we have professionals from different industries all on the call. And we’re teaching all of them together, how to refer each other right how to find opportunities for each other. And you are broken out into a room with your local professionals, those professionals who have the highest propensity to refer you because they’re in your local community. You’re out learning how to apply the principles that we just talked about inside that breakout room. Okay, so now if I go to let me share with you this other really cool feature that we’re rolling out right now, one of the biggest drawbacks to real estate agents getting a referral from a financial advisor is the fact that they talk totally differently about their clients, real estate agents talk about that. They’re about their past clients. Financial Advisors don’t talk about past clients, there are no past clients, there’s only clients. What we’ve created is the ability for a real estate agent or any other professional in these industries that serve property owners to act as a wealth advisor for one’s real estate portfolio. So for example, this particular agent here has over $700 million in real estate assets under management. Here’s the 10 most recent transactions, client property net worth investors property net worth top 10 active investors, top 10 highest interest rates clients by age free and clear properties assumable loans FHA, VA, transaction volume, locally, transaction volume, nationally, client portfolio maps of where their clients live, and where their clients own properties. So needless to say, one can really have not just contact information and relationship data on their clients, but they can have full deep dive data. So I’ve called the deep dive on what’s happening with our clients portfolio. One of our clients mentioned that she there were, I believe, one of our clients owned over 20 properties in Flint, Michigan. But she didn’t know that right? And how much more valuable could she have been to them, and likewise, them to her? By knowing that information of right now she knows that information. So this information allows a professional to again, become a wealth advisor for one’s real estate portfolio or for the real estate portfolios of their clients. So I share that because that’s what I’ve been working on. If you wonder like, Justin, what are you up to? Are you still entitled? No, that was a long time ago, are you still running your coaching company, I have a few very limited clients within my coaching company, my sole focus is on taking pro insight to the masses. Now when I say to the masses, as I mentioned, we do limit exclusivity by county, except in more populated areas. So you actually have the ability to reserve potentially your county, most counties around the country are less than than 100,000. People. If you have more than that, then again, we allow in more professionals to be able to accommodate the amount of opportunity. But we do limit. So it’s not, we’re not taking it to the masses, actually, our average real estate agent on the platform sells 37.2 homes per year. So it is very much a top producer network. And the agents that are here are bringing in professionals around them from other industries who are like them, also top producers. So each week, you get to be in not just the top agent mastermind, but a top professional mastermind, talking about how to get the most value from your database and to your database, as well as from the databases of those professionals around you. So bringing it all back together again, my big as you, as you know, as you followed me, my big mission in life is to help people to think bigger, well, how do I help them to do that it’s to free up their time building a warm market business, but doing it by referral by professional referral. In other words, getting referrals from other professionals allows you to do more business better business. And without all of the time out searching and finding because these referrals are coming to you from these other professionals by you maintaining and adding value to a few key relationships, it opens the door for that. So that’s what I’m up to. That’s what I’m building our intent is to turn pro insight into a household name and make it to where every real estate agent and professional who has a relationship with the property owner wants to be on the platform, and that there’s a place for them. So anyway, if you have any questions, if you’d like to learn about membership, please let me know that’s not the intent of this system is to sell membership. But if you’re recognizing that there’s something of interest to you here, we’re often surprised but not surprised. But we’re delighted when people say now, is that cost to be a member? Is that per month, or is that per year? We said oh no, that’s per year. So the cost is very, very affordable. And it’s very much designed for professionals who want to scale want to grow without having to buy and chase leads. So that describes you please reach out DME we’d love to have a conversation with you. But that’s a quick overview of what Justin’s been up to. And what I’m building that we believe has the ability to transform the typical good professional into something very unique, that withstands market pressures that withstands even, you know, at settlement pressures and our settlement pressures etc. This is a chance for you to rise above who you’ve been, and become truly a wealth advisor funds real estate portfolio. So appreciate you listening. Please reach out if I can answer your questions. And thanks for thanks for tuning in. Duck Soup.

Justin Stoddart 14:26
Before you go, we’ve got one more invitation for you. We all know that listening to a podcast is not enough to help you to become a big thinker and high achiever. We must take action. So the very first step think about one AHA one lesson learned from this podcast you’d like to apply and send it to us in the form of a direct message at Think bigger real estate. We look forward to hearing from you and helping you