In this Business Blast Podcast episode, host Tyler Wagner interviews Marshall Costner, the owner and broker of Costner Realty. Costner shares a formative high‑school story about learning to adapt his responses to others, emphasizing win‑win interactions. He explains his core real‑estate insight that profits are made on the purchase, not the sale, urging investors to prioritize due diligence and patience to avoid upside‑down deals. He offers broader business advice to meticulously track and understand all financial and marketing metrics, noting that strategic loss‑leader activities can enable more profitable segments. Costner stresses that listening is essential to effective communication and problem‑solving. He identifies giving back to community and loved ones as the key to happiness. His favorite book, How to Win Friends and Influence People, reinforces the importance of win‑win negotiations. A cherished Dr. Seuss quote reminds him to keep fun in a serious industry. Finally, he directs listeners to his website costnerreality.com and his online profiles for contact.
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Welcome to the Business Blast Podcast. I'm your host, Tyler Wagner. This episode is brought to you by Authors Unite. Authors Unite provides you with all the resources you need to become a successful author. You can learn more about Authors Unite and join the free community at authorsunite.com. Now let's jump into the episode.
Alright everyone, welcome back to another episode of the Business Blast Podcast. I'm your host Tyler Wagner. Today I have Marshall Kostner with us. He's the owner and broker of Kostner Realty. So welcome to the show, Marshall.
Thank you, glad to be here.
Of course, man, thank you for joining us. We'll dive into the first question. The first question I have for you is, what is the best story from your life that has an underlying valuable message?
One story that has always sort of stuck with me was actually in high school. I was having trouble with a teacher, and we just weren't really seeing eye to eye. And I was discussing it with my mom, and she said something that has really stuck with me, and it's that basically, I cannot change how other people see things, but I can change how I respond to them. And what that taught me was that everybody needs to be treated differently, and that it is my job, if I want to have a positive interaction with them, to determine how they need to be treated and how I need to respond to them so that we can have a win-win situation for both of us.
And what is the most valuable piece of information we should know that's within your expertise or industry?
So many people that I work with, as far as working with investors, they always think that, you know, the sweat equity that they put into the home, or whether it be, you know, the sell, that's really where they focus, and they think that's how they're going to make their money. But really, you make your money on the buy and not necessarily the sell. So you really need to be patient and wait for that proper opportunity and do your due diligence up front. It's much better to lose a few thousand dollars up front on a home than it is to, you know, go ahead and get into that project and be stuck on an upside-down project that could lose 10 times that.
And what's your best piece of overall business advice? So not necessarily industry-specific.
So that would be know your numbers and track everything— financial numbers, marketing stats, performance stats. If you do not track something, you're not able to see what is actually profitable and what you're wasting your time on. But you also, not only do you track it, you have to understand your numbers and, you know, is that an actual good use of your time? You know, there's something that we do within our business that it actually is not a profit center for us at all. It's actually a little bit of a loss leader, but it allows us to have a very successful and profitable side of our business. And we couldn't have the other without having that a little bit of a loss. And so it's a trade-off that we're very happy to make.
And if you could give your younger self one piece of advice, what would that be?
Definitely be listen. I feel like most problems in life and in business comes from failed communication, which really stems from not listening. You always have to have to— you don't always have to agree with somebody, but you do have to listen to understand where they're coming from, or you're never going to be able to reach an agreement on anything.
And in your opinion, what is the key to happiness?
My personal style, I believe giving is the key to happiness. I love giving back to the community, giving back to those that I love and care about, and just the joy that I receive from giving to others is just something that I think is the key to happiness.
And what's the best book that you've read and what was the number one thing you learned from that?
So it's been a while since I read it, but it definitely— How to Win Friends and Influence People. The message of you need to find a win-win for both sides. To come to an agreement has really stuck with me. It's something I try to practice in every transaction that I do and every negotiation that I come in, no matter what the deal is about. I just feel like everybody has to have a win-win, and that way, you know, we're not always going to walk away happy, but at least, you know, we're able to come to a meeting of the minds.
And what is your favorite quote and why?
If you never did, you should. These things are fun and fun is good, uh, by Dr. Seuss. And so I grew up listening to Dr. Seuss and his funny little quirkisms. They're very simple, yet they have a very powerful message. And I think we do have a very serious industry and we also need to have fun. And without having fun, why are we doing anything?
Yes, I agree. Thank you so much for coming on, man. The last question I have for you before we let you go is where's the best place for people to find you online?
So costnerreality.com, you can find all my contact information there, or you can just Google Marshall Costner and LinkedIn, Facebook, realtor.com, all those, Zillow will pop up and I'm right there.
Perfect, man. Thank you again for joining us. We appreciate it.
Yeah, glad to be on the show. The podcast you just heard was recorded with Anchor. If you want to make your own, download the Android or iOS app completely free from anchor.fm/podcast. That's anchor.fm/podcast.
