A real estate coach explains how to stand out in a crowded market. Build systems that work without you, professionalize your service, and capitalize on the fact that most agents are mediocre. The speaker left a six-figure corporate job in 2007 to prove it's possible.
And now. So at the end of this conversation, we're going to kind of do a little bit, a little table talk, I'll call it, just to kind of talk about not necessarily market specific state of the industry, but just the industry as a whole and what you think about it. And if you don't like think the industry is going to change, maybe we can talk about it or talk about it with your group. But you should really have an opinion on why you're doing this. It's not just in my opinion, I guess there's two reasons. I mean, to build a kick ass business that runs without you for most of the time. But also I think the industry is going to demand it. I don't believe, of course there's going to be like, yeah, but I go to church with her. We lost one recently, a listing. It was a good listing. It was like 500 grand, which is a good price for our market. And the guy at the end of it told John, one of my listing agents, he said like, I know you guys would do a better job, I know you would get a higher price, but we just can't go with you. We've got to get. And we pulled the production of the person they're going with. The average price point was like 140. We refer our low price listings to this agent they went with. And she sold nine homes and like I think four of them were referrals from us. And I'm like, I don't think that's going to exist forever in the real estate industry. I think it's just too big a decision and most people are going to get a little bit more savvy than that. So I think if you're not going down this path, I think you've got a challenge. So I think part of it is like having the thing working for you to get, give you that cool life. And then the other part of it is because the industry I think is just going to make it mandatory. So most of you know my story. I'm not going to spend a lot of time on it. But I left a really cozy, almost multiple six figure job to get into real estate. Everyone thought I was crazy. I had a newborn, so Julie and I got married in October. Yeah, October 2006. Anders was born in. Let me do the math. So I don't. No, I'm just kidding. November 2007. So it was legit. And then I got into real estate, sort of. 2007 was my transition year. 2008 was my first full year. And Julie now tells me that she was so glad that she had like a really a good paying job. She was making over six figures as crna. And you know, I really, I was rooting for you at the time, but I thought you were really crazy. And now just recently she stopped working and now she's like, oh, this is cool. So I'm glad I didn't know that at the time because I thought she was like, yeah, you're going to do this. So the thing that most people, like I had people mostly after the fact, like, man, I thought you were crazy when you got into real estate. Because everyone knows real estate agents that there's no barrier to entry. I don't think it costs more than $1,000. Does it cost more than $1,000 in anyone's market to become a real estate agent? It's like $400 in our market or something like that. So for 400 bucks you can help someone sell like a $500,000 home, make 15 grand. Most people in our market are making under 40 grand. So it's like it's the most ridiculous industry in the world. You need no qualifications to sell real estate. So that was the one side of it was that people thought I was crazy. Like, you're really like. I had a job where I was flying around the world and meeting with owners of companies and setting strategy for an aerospace company. It was the ideal job. I wrote it on paper. When I left Bear Stearns, I said I'd love to do corporate development and strategy for an aerospace company. And that's what I was doing. Everyone thought I was crazy. But the cool thing about real estate is that it is full of agents that just shouldn't be doing real estate. I mean like at least 80, maybe 90% of agents just need to go do something else. So that's the cool opportunity is that you put this thing together and you market yourself and advertise your value proposition. USP based value proposition. It's not going to be hard to kill agents in your market.
