WILL ZILLOW DESTROY YOUR REAL ESTATE BUSINESS? – Borino Coaching #123


Tuesday knew you’re in rockstars that
can only mean one thing you’re ready to have a cup of coffee with your cordial
Reno here is my traditional cappuccino mmm add it’s good stuff
you ready to chat about real estate yeah you’re ready to go all right one more
adjustment hold on a second I’m Manning the shop myself today there you go all
right you guys are ready to talk the doom and gloom Zillow has unleashed on
our community are you ready to talk about making money having a good time
helping people enjoying this business being a successful real estate agent and
you’re in the right place are you here to ask questions are you here to post
comments you’re in the right place coach Marino with you if this is your first
time here with us special welcome to you good to have you it is not your
traditional real estate broadcast or a video yes I use colorful language yes I
use adult language and yes I speak from the heart
after years of experience as an agent now I took on the mantle of coaching you
inspiring and helping you guys that has been my mission and with that big good
will come to my good man William nice to have you will in from Louisville Los
Angeles California mr. Brian English the traditional always present always eager
to learn always wanting to be better and successful good to have you my man and
gales intake always eager to learn and grow and get better and help others you
are a rockstar at that girl however like that
all right well do we have Therese with us Mary checking in terrific Tuesday to
you as well my dear lovely to have you good afternoon to you all Linda checking
in absolutely fantastic to have you all of you guys we’re going to have a good
life today and I have an agenda pretty much a single thing I want to talk to
you about first and if with time of course I’ll get on your questions and
answer them but first I wanted to talk about the doom and gloom the demise of
the real estate industry because of evil Zillow you guys know what I’m talking
about right you saw the article everybody’s talking about it
Zillow launches instant offers pilot program for home sellers real estate
agents leaving in drones thousands leaving homeless tens of thousands
without income this is the end of real estate as we know it or something along
those lines hike you guys see what’s going on there was a great discussion on
our forum on our friends and lab codes everybody’s chiming in and some of the
comments on the article will go into a detail what it means and what it means
to you and your pocketbook some of them are intelligent we articulate some more
oh this is good some of them all this is this at the end
some were very emotional ah you know like that picture I showed you some
analyze what was really going on somewhere just like what the fuck what’s
going on so let’s attack it shall we let’s have a
little conversation and hopefully intelligent conversation with some humor
and some good time what it really means in the largest keema figs what it means
to you to your business your income where do we go from here my little two
cents from your coach merino when I started in real estate in 1743 when
we’re sorry the Hutt’s back then when I started this was when the Multiple
Listing Service was just coming online as a computer system and we were
switching from those big books anybody remember that anybody in the business
long enough to remember the big like phonebook through our distich big books
and every 10 days did we get reprinted they would drop off the old drop off the
new ones pick up the old ones and they would switch three times a month and
there were little tiny postage stamp picture of the property a little bit of
a description you are lucky if there was at one photo one black-and-white photo
and you’ll flip through it there was an active section there were pendings there
was a list of souls and an expired to the yet and that was
the resource we will the gate gatekeepers of the information if I
remember that anybody hold enough let’s see
even if you wear your problems don’t admit it right right yeah Brian likes
that 17:43 that’s about when I started
seriously yeah so anyway that’s that’s um that’s what we had
and for years that’s how it worked and you would get this information with come
through it all new listings and so on what I hated about it more than the fact
that you had these tiny little postage stamp pictures of the houses in a very
little description this agent was worked hard enough to put something about the
property there but what was what I hated the most is the fingers as you thumb
through the page just like a newspaper you know your fingers would get dirty
all the time I hated that so when they started to introduce and roll out MLS as
a computer system I was relieved not because I saw the potential of the
technology you know this is so way back we didn’t really know what that’s going
to really impact how it’s going to impact the industry and change it what I
like this the fact of my hands when you get dirty anymore so that’s what I’ll is
what I was excited about and we would have dot matrix printers that would go
to the you know in print and we had these classes we were learning how they
work how to log in and all that and there were three camps in the office
where I worked there was a small size office over about 20-some agents there
but there were three groups of people three camps of agents first cam they
were like yeah okay I gotta get shit done I got a buyer I need to show some
property or I got to prepare an analyst how do I do that let’s get it done let’s
get outta you there was a second group of people who’s a holy shit this is
awesome like me I saw the potential of being able to access MLS anywhere not
just in the office where we started with these giant computers and there was a
third group of agents third group of people who like I hate this I don’t know
how to use it and this is frustrating and I don’t know what to do about when
an agent and don don was an old guy he was a retired teacher tall slender gray
hair very conservative type you know I mean he liked things a certain way and a
big destruction like this meant it ruined his livelihood and he wasn’t
doing they great to begin with given his attitude I’m not surprised but Don was
frustrated every time I had my cubicle not far from the room where the
computers were we had two computers and two printers and I could just hear him
grumble oh stop this shit and I know downloads
unless and then you would like and you already can help me here how do I do
that you know and then some good soul would come in and rescue dog not
surprisingly a few months later Don quit real estate and I was not surprised as
the grumble grumble grumble clearly he was not having fun
there are times and milestones and events in our life in our business where
something new comes along that changes dramatically our lives our industry
think about uber what mate uber so cool I love using uber I’m a huge fan of uber
I use it a lot I love it what makes it cool a choice that I as a consumer have
a choice between a dirty clunky uncomfortable expensive cab where I have
to pay with some swipe shit now they could the giant screen in my face with
some obnoxious annoying advertising listening to some third-world country
music most of the time in a smelly cab that’s clunking bouncing around and it’s
expensive and it’s going to be late and it’s going to be hard to get at times
and I don’t know in advance what the fare is going to be none of that versus
I can take the kind of car I want the size of the car I want I can tell right
away what my fare is going to be I can tell exactly how long exactly very close
to how long it’s going to take to get there I have to do anything the fare is
paid it’s convenient the cars are nicer the cars are clean
there’s some now the introducing I can have my own playlist it’s usually driven
by somebody very pleasant and charity my experience with uber drivers has been
always cool people very nice very friendly if you won’t
have a conversation that will have a cool conversation with you it’s not
there leave you’ll love it it’s less expensive it’s convenient it’s fantastic
now let’s connect it to our Zillow let me pull up the article so that you’re up
to speed so you understand what’s going on check this out
so according to a little Zillow launches instant offers pilot program for home
sellers illis for the seven of you who don’t know what that is it’s a database
is an online database to advertise they generate their money through advertising
revenue majority of their income is from advertising now they launched this
program where without or without agent homeowners can
entertain instant offers and sell quickly the basic premise of the program
is that they will team up with Wall Street investors with certain sellers
and want to sell fast who don’t want to deal with an agent or deal with in
what’s called the premier agent and sell quickly for a set amount of money that’s
the premise of the program freakout explosion like this
right yesterday when they announced it now let’s dive a little deeper into
what’s really is going on listen to this Zillow says and here’s really your
answer and this is a long answer to your profitability for years to come Zillow
says that the program is a direct response to its research about home
sellers concerns the company found that the sellers are frustrated with the
unknown that come with listing a house and the inconvenience and stress open
houses staging moving and unpredictable timing sellers are looking for more
solution when selling their home that’s the answer that’s the hallelujah right
there and that’s the reason why you should not be freaking out at all
there’s nothing to freak about because the reality is this there was always
going to be a small group of home sellers who don’t give a shit about
agents and how to deal with agents we will figure out any other way to avoid
the industry juice nothing you can do about it though cider for sale by owners
those are a pain in the ass sellers those are the difficult ones those are
the ones that think we’re scum and we’re making way too much money you cannot
change them we cannot educate see the Zillow came with this plan not to
protect your best individual doesn’t give a shit about you yes they want your
money they created a partnership that’s profitable for many agents and for
Zillow but it be and why should they protect your best interests how arrogant
and how ignorant of so many agents think involves you look should be protecting
my interests they’re using my listing fuck you that is not true at all that’s
not how its set up that’s not how it works
it is not driven by the real estate industry it is not driven by Zillow who
is driving their consumers the sellers the reason very successful is not
because Hoover wanted to succeed yes they did but at the end the ultimate
success is because we liked it because it was better because it was cheaper
it’s as simple as that rule Zillow be the next tuber I don’t
think so and I tell you why Zillow has a big national presence a lot
of people know about a lot of people using with agents consumers etc but this
industry and this business is not like car industry or not like travel industry
like I want to get uber is simple I’m in point a give me quickly inexpensively
safely and permanently to point B that’s the whole thing I don’t care whether the
car is black or white I don’t care about any other details I want to get there
quickly I want to get there safely and I won’t have a pleasant drive there from
point A to point B it’s that simple the real estate transaction is not that
simple and I tell you why I don’t think this is a big threat to your business
several reasons number one the real estate transactions are way to more
complex this one so surprised the attorneys and the legal industry hasn’t
gotten their hands deeper in the pockets good fuck that they’re making 10 grand
transactions how do we get on that racket you know I mean I mean they tried
but so far it hasn’t worked very well for that thank you
thank God for us right now real estate deals the entire process is a
combination of very strong big emotions and it’s usually fear I mean look back
and all the solos you deal with all the buyers to deal with there’s at least one
massive freakout go ahead please once a week right a lot of emotions and a lot
of complex information data transaction disclosures paperwork information market
update price there’s a boatload of data that needs to be processed now sites
like Zillow offer data the estimates and all that there are plenty of resources
where the consumer can get the data the data is not the issue here what that
data means how it impacts the consumer and what to do about it it’s a critical
element that note Zillow not attorney nobody can fill with you that’s it
that’s it because the seller in the complexity we all needs the hand-holding
needs the advice need somebody they can trust they have no reason to trust some
nameless faceless entity called Zillow they have a reason to trust you Brian
you James you Mary you Gail because there’s a blonde there’s a trust
dinner is a relationship the money matters yes but let’s talk about the
money the Zillo premise is they will team up they will hook you up as a
seller with Wall Street investors hmm think about that Wall Street very
honored up from people willing to protect the sellers best interest and
their pocket I don’t think so what is their interest why are they in it to
make profit now if the buyer the Wall Street investors also on it’s cool guys
are there to make a profit what chances does the seller stand to
get a fair deal think about that will this be a good deal for most sellers I
don’t think so I don’t have a crystal ball obviously but if I look at it from
a 10,000 foot perspective I like hold on Wall Street investors where the single
seller I think the single fellow is fucked in most cases because they’re
buying it to make profit to make money that’s the sole reason they don’t give a
shit about their situation they really care why are they selling what is their
circumstance is none of that bottom line is all that matters to them they’re
dollar driven and that’s their business I’m not knocking it fine that’s how you
make a living cool but if you put these together ad doesn’t look very fair to me
to the seller who protect the seller who is on the seller side who will handhold
the seller yes Zillow says seller has the option to get
the premier agent which is really where they’re going to probably make the
monies try to sell you more shit and some of the agents who have the budget
and the desire and it’s their business model more power to you use it it will
be a good opportunity to get in front of all those sellers does it all make sense
so here’s the bottom line you don’t have much to worry about yet this is not a
disruption by any means it’s a pilot program than in my case my opinion is
not going to take off in a big way it will resonate with certain small group
of cells but they will always be there those are your physicals now
statistically you already know a transactions out of 100 are fizzbuzz
they’re not telling this are the lowest number since 1981 they’re not selling on
average property listed with an agent sells for last year’s stats were 160
thousand more median price right according to any are huge discrepancy
why do you think that is good agent on their side good negotiator good
sources marketing in some patients it’s going to take some time even in a hot
market to find the perfect buyer make sure the property inspector praises all
that stuff I don’t see this happening with investors on Wall Street Wall
Street doesn’t have the best reputation to protect the consumers best interest
if you ask me you understand what I’m saying
Nick Baldwin summarized it really well my good man Nick posted this I read this
quote in Business Journal yesterday and brings up a valid point Zillow presently
receives less than 1% of the hundred billion brokerage ecosystem support and
the company has realized that until they accept the blahblah now Zillow is
forgetting that one and the most important thing that it would be
although let me move it so you can see it here we go I’m going to zoom it out
because the last paragraph is the critical one hold on here that one most
important thing that it would be need to firm compete in human being of its
quality of service as agents we still crush Zillow in that department quality
of service no website no entity no uber of real estate can compete with that on
contrary uber won because the quality of the service because it was more personal
but it was more pleasant that’s why over 1 Zillow is not over your uber you’re
the disrupter the Zillow have really that big of a presence in your
neighborhood I don’t think so do you have to deal with it yes there will be
some ramifications you have to take it into consideration and you have to stay
flexible but what will it take to deliver what the consumer really wants
the answer was right there in the article the reason Zillow did a research
and found so many sellers are unhappy and are looking for alternative because
they don’t have the right answers they don’t have the accurate honest truthful
answers it’s as simple as that that’s your answer right in there it’s in the
article the uncertainty so now you as a professional high status agent come in
what does it take to compete not just with Zillow but in general to really
or any game I made a list you want to go through it real quick let me show you
okay so step one or part one is your communication so let’s call it the a
game list step one is your communication how you
communicate they like me like me like me ain’t gonna cut it
neither with the high pressure aggressive script and more the consumers
are changing the industry is changing the world is changing it has to be a
genuine confident connected two-way conversation that’s the answer
instead of automating make it personable connect it so that’s the first one
second thing on my list is you have to have systems to generate leads lead
generation no more shooting from the hip that the other system that we have the
disruptors I mean they’re already coming they’re trying and the way you compete
with that is you have enough good qualified leads coming through the
pipeline that these kind of auxilary disruptions are not going to sway you
too much and they’re going to make a big dent because it is five listing
appointments lined up and one of these cell says you know what we’re going to
go with the Zillow deal I mean that’s better for us you say more power to good
luck hopefully that works out for you except most of you don’t have four or
five listing appointment line up you know why you don’t have the systems to
generate good quality leads can Zillow be one of the systems it can be
yesterday with that interview summer we’re on it did working out was a good
right it was good Shana Shana did a fantastic job breaking
it down she is a new type of real estate agent where most of her business comes
from technology systems and Zillow is one of them she uses it
the downside is you got to learn it this is not something you’re gonna master
overnight ain’t ain’t cheap she mentioned her budget and it’s a few
thousand dollars a month to run something like that but it works for her
and that’s cool it’s just another model my point is
whatever you choose make sure it’s a system make sure you know what the steps
are make sure you know what the components are so you don’t just
improvise it’s planned so you can measure it you can troubleshoot it and
you can scale it make sense next what’s next to my list follow-up your follow-up
needs to be spot-on and there are two components to it your frequency how
often you follow up so many don’t follow up often map they just don’t know who
you are they forget who you are you may have a good lead who would list with you
but because you screw up your follow up you don’t keep in touch often enough
they get lost they do you drop them you drop the ball and drop by and you see
the signing go son of a bitch that was that should be my listing what that’s
all not enough and the second is quality and knowing them with phone calls I
ready to list can be that can be that provide information be cool be helpful
be personable it’s more about one-on-one to have the massive automated system
that just keeps blasting texts and emails and and mass marketing bullshit
people don’t respond to it very well yeah so fix that next you you must be
absolutely crystal I have them when you get one of my systems one of the things
we do is we have a implementation session for 30 minutes we work together
on implementing whether you have the physical Reno the expert plus whatever
you have and during that call that I do with you personally one of the questions
asked is what do you bring to the table what do you bring to the table what is
unique about you that would cause me to say yes I like Bryan I think I’m going
to list my house with Bryan what do you bring to the table and you got to be
very clear and very specific and you got to watch for landmines like or I’m on my
marketing people don’t really give us you too much about marketing they use it
as a gauge compared to ages well this one has these fancy flashy things
it is not about that that’s just a vehicle that’s just like the uber car
that gets me from point A to point B but it’s not about the car it’s me being
somewhere else having fun or meeting my friends or going to the airport doing
something else get very clear what do you specifically you personally bring to
the table that makes you unique that validates and justifies the commission
you earn that’s not I’m brainstorming it because I guarantee you you gotta have
something if you already have listings you’ve already have clients you’re
working with if you already sold properties there was something about you
that made those people that do business with you go hmm I like him trust him and
respect him more than everybody else that’s why they do business with you
every single time you need to decide for what is it you need to know the answers
you need to use those answers okay expertise you’ve got to be an expert you
got to be an expert that’s a given you got to know your shit and find out
you’ve got to know your market pricing the business the paperwork you know
everything comes with it it’s part of your job that’s your job description
you’ve got to know that and it’s mind-boggling to me to still see agents
who’ve been added for two three four years still don’t know the basics still
couldn’t tell me all that house it’s a four-bedroom three-bath it’s a
split-level about 2,000 square feet they usually sell between four twenty four
twenty five four thirty if they’re really nice and clean takes about 13
days right now to get an offer and a nice clean property right that to be
expected remember their article what it said the uncertainties was driving our
consumer to find an alternative you and your expertise must be rock-solid where
you sit down with the seller which bring it to the next point and that’s accurate
answers the sellers expect I mean we’re knocking
Zilla right you see these posts oh you are how many agents are off
can you really sit down with the seller today present a good listing
presentation whether you have the presentation plus or not doesn’t matter
but do a good job presenting and be rock-solid when it comes to it should be
listed for 25 it’s going to suffer about 420 maybe a little bit more it’s going
to take us about two weeks to receive an offer once we complete these things on
the list we’re going to stage the property the cost of the stage in the
consultation is $200 then my stage will give you an estimate
of what it’s going to cost to stage it we’re gonna pay to the closest so don’t
worry about it’s going to be just another expense we’re going to do
possibly one open house and one broke open house they last about four hours I
will provide refreshments we’ll set up the house we’ll prepare everything
that’s what they expect you to do I need to know this you know if it takes three
months to sell great if it takes six months to sell awesome but you got to
know the answers and you cannot be off you cannot afford to be off so it’s very
easy and fun to knock Zillow and make fun of them a lot of them who post those
funny you know the dilapidated Danian Zillow says all that’s worth 300,000 but
can you be that on are you accurate it’s expected the consumers expected if the
appraisal who makes what to $300 an appraisal can be dead-on not that they
always are but you know what I’m saying you earning all these thousands of
dollars damn right you gotta be on study the market preview property really know
what’s going on neighborhood the school districts and everything else that
impacts the value of the property that’s your homework you got to do that it’s
part of your job it’s the job description and it’s expected to deliver
accurate answers and the last one trust trust you have to master through
communication and marketing and ability to develop connection and Trust I’ll
give an example yesterday I had a call from an agent who’s considering coming
and doing the next dude camp in August with me so for everybody who’s
interested in the boot camp you and I get on the phone for about 10 15 minutes
and have a chat and we were chatting for about 10 minutes and within 10
minutes we were discussing some very personal very deep issues concerning her
her marriage her relationship and how it impacts her business
I had never spoken with her before we never met before she knew my videos and
she is in rock stars but beyond that should no clue we never spoke before
within 10 minutes we had such an authentic conversation she was willing
to and it was necessary for us to discuss these things that she wouldn’t
tell even to her good friends is it because I’ve magic powers or hypnotic
language now I don’t influence or or manipulate people like that but it is a
skill I have one of the things that I have and I teach you how to do it is how
to build that kind of authentic real trust imagine you have that trust with
the seller within 10 minutes they feel very honest and open to tell you what’s
really going on to ask you questions honest questions rather than seeing an
enemy a salesperson with whom they have to be defensive they can be honest and
open it’s a lot of skill it can be learned it can be developed it can be
proof and it’s going to become essential because you’re now competing with entity
that is a huge marketing budget they can crush you when it comes to online
presence for example but it can never crush you in your ability to develop
these kind of connections with people this kind of trust and if you combine it
with the level of expertise if you deliver something unique that’s about
you if you have a good follow-up in place combined with a good system to
generate good lead if you’re a good communicator
that’s your a-game you have nothing to worry about this industry will not be
disruptive it just evolves and people who have all these and many of you do or
are working progressing that way some with my help thank you thanks for being
students and clients this is our agenda this is what I do for a living if you
ask me what do I do I do this I did you help to communicate I’ll give you some
systems I build your follow-up will find together something you need that you
bring to the table and how to communicate it to the consumer I will
show you how you can become an expert fairly quickly how to deliver accurate
answers on how to build trust with people because if you have all this in
place then you can scale the shit out of it and that’s really the secret how so
many people regardless of Zillow and regardless of God knows want make a
lot of money that’s the whole sending right there you take every top reduce to
making three hundred thousand four hundred thousand or more I guarantee you
if I start raiding one to five this would score four or five on almost all
of them guaranteed and if you score three or less than you exactly know what
to focus on where the problem is does that all make sense to you can you
take some action points from it right now will this be helpful to you to
rebuild rethink how you think about it yes what do you think Jennifer has a
really good at that that is a brilliant suggestion Jeff really we like it he
says take an appraisal seminar and learn the ten 1000 for MC game-changer I
totally agree I think taking in praise of course is a good idea online or
offline yes I like that good what is the very first item on the board
can see the very first item is a gain list and the first one is communication
and I apologize you can see it so this is your a game it’s communications
systems to generate leads follow-up you expertise accurate answers and trust
dynamics and I think would you add anything to it
yeah Gail right off she’s a genuine confident connected conversation that’s
exactly what I’m talking about and you can’t wing it you know and you
can’t fake it there’s no script you can memorize to do
that well that’s impossible I have never met anyone who can do that Victoria I really like that she cords an
agent with ancient wisdom it’s not who or what you meet in life that matters
but how you need it how you meet that’s exactly right yeah I like that
William has a question what is your take on the low inventory do you see the
shift in on a horizon as a cold call agent prospector one thing I’ve learned
the best area at the college area that had higher turnover here’s my suggestion
to you William and everybody else if you are doing a lead generation like cold
calling right now and after about 60 days you’re not getting some really
solid hard leads stop stop because whether the markets going to shift or
not doesn’t really matter something is broken if you put 60 days of effort in a
lead generation whether it’s expired listings for some by owners cold calling
door knocking online lead generation whatever if within 60 days you’re not
getting solid leads and or appointments and listings stopped something is broken
I need to figure out what is broken you want to troubleshoot that real quick all
of you guys want to do that give me some like CVS let’s see would it be helpful
to answer that how you can troubleshoot that yeah okay
so let me wipe this yes okay good so you guys want to go through it quick so
let’s say you do a lead generation you have a system set up and this could be
Facebook advertising this could be our direct mail this could be a while oppo
this could be a z buyer whatever online offline doesn’t matter any system you
use and you’ve been using it for 60 days cool okay you want to see what’s going
on so here’s our trouble sheet so you need to figure out how much money is it
bringing and then you can break it down am i getting good lead solid leak now
here’s my definition of leads somebody who most like to will move in six months
or less that’s my definition of lead somebody who is most likely going to
move within the next six months if it’s more than six months sometimes I would
take them as a lead occasionally based on the circumstances especially if a
good relationship and it’s clear that it will definitely move but it might take a
little longer that’s an exception but usually I’m going for somebody six
months or less that’s my definition of lead and preferably sellers okay am I
getting appointments listing appointments and am I getting listings
okay if none of this is happening or not sufficient enough to sustain a good
profit for you stop immediately it’s time to troubleshoot it’s time to
evaluate so the first thing you’ll evaluate is numbers and that simply
means am i reaching enough numbers so let’s say you’re working for sale by
owners just for the sake of illustration and let’s say you contact one for sale
by owner a week of course that’s not going to produce high volume of leads
appointments and listings now in some areas right now something like new
expired listings are pretty dry because of the market right you don’t have a
whole lot of expert so the definitely going to kill the system doesn’t mean
going to pull the plug on it it just means this is the numbers I have I’m
going to work with what I got as I always tell you do the best you can with
what you have right but the first thing I would do is can I increase the numbers
can I increase the numbers is there a way to do more fizzles can I look for
alternative resources where I just need more numbers because you know that the
more contacts you make there’s a more chance you’re going to get more leads
more appointments and more listings so the first way you troubleshoot is I’m
just not doing enough the second thing I would do
quality of the first impression what is my first impression i watch this guy who
posted a video of him cold calling and person he’s a good agent he’s sitting
down is a headset on doing something I couldn’t tell what it was but it felt
like or it looked like he was playing a video game
just to be distracted you know because it’s boring to sit there and then
somebody would become phone hi this is Robert with ABC real estate are you
planning to sell your house in the near future thank you
and then he would sit there for five minutes and somebody would answer and
you know he was on a dial and doing that that’s a horrible first impression I was
on the call yesterday YouTube contacted me YouTube / Google representative
contacted me says we want to help you we have these things to help you grow your
channel I’m not cool so I spent about 10 minutes on the phone with the dude who
was pretty much reading the script to me and I even told him at the dude you know
I teach communication this was not that good
I would really work on the communication abilities I mean the script is good you
suck I’m just honest I mean I kind of taken back by it but I was just being
honest with you horrible first impression to the point where I will
fucking YouTube if you just send me a dude sitting and reading a script
somewhere come on I want somebody engage in when somebody who ask me questions or
I can have a comment and I want to have conversation I wanted to talk to him
about that that didn’t go very well my first impression is like really hmm the
amount of money they make this is what I get
not a great impression so the way you can figure this out what is the quality
of your first impression is reaction of course what kind of response you get
number one number two record yourself put yourself on an iPhone get a low
recorder just pay attention to how you communicate if you knock on the door
what is the first impression the way you look the way you carry yourself okay
work on that very important because that first impression will determine whether
somebody will like you or not and it happens super fast the next thing
you want to do is the system am I using the right system is there a better way
to do that and this will require a little bit of a homework are the other
agents doing something similar like for sale by owners using a different system
could I incorporate for example something like a data generator like an
espresso agent would that help am i looking in enough places because that’s
connected with the numbers do I connect enough numbers can I learn from somebody
who knows how to do this can they teach me can I improve the system and the last
thing would be is there a better way is there a better way do I stick with it
like in Williams case do I stick with the cold calling unless I can improve
these three the answer is no the answer is now don’t do that if in 60 days you
feel like well there’s this is about as high numbers I can have I think my first
impression is pretty good there’s not much I can do there I think I’m using
the best system available and there’s got to be a better way to get leads
other agents in your area are getting late so I would kill that funnel if you
can make it work in 60 days and you’re positive that these things are in place
there’s one more to it mindset what do you really believe really what do you
really deep inside be honest no lip serve is no bullshit what do you really
believe about you about real estate about money about calling people you
know what I struggle with expires for so long I carried this thing in my head I
want to bother people I don’t like with people bother me and
then knock on my door and they call me so I’m not gonna bother people now on
the outside I was doing the the right thing or soldiering through but not
getting very good results because deep inside I didn’t believe in any of that
so I had to shift the mindset what is the mindset is that helpful so evaluate
every lead system you have what am I getting
what can I fix or should I drop it that’s it because there are only two
ways you’re going to make money there are only two ways you’re going to spend
dollars meaning something on Y logo or Facebook advertising or Z buyers or
billion other ways you can generate leads these days and evaluate is it
really producing results is the money I’m spending bringing money back or can
I invest it better work you either grind your ass off you
invest or a little bit of both combine the two that’s the only way that’s it
yeah all right cool Oh some of you remember ray remembers
you Londo remembers ya the MLS remember all right excellent
so that would my advice to you guys when it comes to lead generation Dean says
look at Apple quality – yes yeah it’s a combination yes absolutely true okay all
right you guys looks like you’re getting you’re getting it excellent Victoria
says I think the mindset is the most important part I totally agree Victoria
I 100% agree I absolutely agree because the mindset will determine the rest I
totally agree start there start there and it’s not always easy I give you that
especially if you get beat up a lot or the results are not there and you’re
just questioning pretty much everything and I cut out for this business am i
doing the right thing is Barrino really the right dudes to follow you know you
question it but look at the results and you can click those trouble shoot yeah
okay one thing I promised you today there was a post recently should I
invest and it was a big sum and I maybe I remember it right was thousand dollars
to get fancy business cards and my post was my response was to a very general
yeah um no stop using business cards you should
absolutely stop using business cards now some of you right now are going what the
fuck is he talking about does he have a little Jack in his coffee no I do not although now that I mention it that
might taste pretty good let me get a better strategy stop using this card
this is 2017 you should not use business cards at all ever
period okay here’s a better strategy you meet a prospect at an open house which
ever circumstance and they also will do you have a card you say no this is 2017
let me text you my contact information what’s your cell number and notice what
I’m doing I’m already getting my phone ready
I expect the phone number I have my phone ready I’m expecting them to give
it to me as they give it to me I will log it in and I will show them my
contact information that’s it that’s the whole technique don’t use business cards
use this this way they have your contact information they have all the details
about you your email your cell number everything and you have theirs and now
you’re communicating because the business card is simply means
okay just another agent which we’ve done it right
when you get an insurance agents card or mortgage rep card who come buys your
office and stuffs it in the inboxes and you go jump jump jump jump jump come on
with all do it you get junk in home you just toss it
much better way you open the communication hey gray meeting you today
enjoy your conversation looking forward to helping you that’s the answer
start using that no more business cars nonsense stop it be a modern agent
engage people like we talked about the Zillo earlier the trick is to have such
meaningful helpful conversations with these people that we have readily
available helpful answers not just data this is not telling them about market
value in their neighborhood there is a whole bunch of automated systems some
accurate or not some more accurate than others that can do that which you
provide is insight meaning this is what it means here is how it impacts you this
is the data this is the information and here is under your circumstances what it
means to you we’re a great attorney I have a fantastic attorney she’s awesome
her name is Debra Debra knows the law she knows it inside out but when we meet
with her I don’t want to hear five minutes of reading from a law book about
a certain particular law you know I mean I want to know this is what it is here’s
what it means this is what we should do I don’t have time or the desire
study law or understand it I need an expert why pay a lot of money to tell me
this is what it is here’s what it means and here’s what you should do and here’s
why but she does it from a human kind heart
empathy perspective understanding my situation first can you do the same yes
you ask the right questions number one you understand their situation number
two and then together you come to a conclusion this is what’s best for you
guys this is what we should do and here’s why and not being attached they
say no we don’t want to do that then you have the right to explore well tell me
about it what’s stopping you what’s what do you feel like it’s the roadblock
maybe they have a valid reason maybe they don’t maybe they just don’t like
you maybe the issue is trust that’s usually
the case they question your expertise they question your their best choice
bottom line but you can fix that because you’re either perceived as low status or
perceived as a salesman or saleswoman or a high status agent cool competent
that’s how they perceive you whether you are not is a completely different issue
it’s a matter of perception because in their mind your perception perception of
you is their reality end of story yeah all right regards to perspective oops
Jeffrey has a good suggestion use v-cards to perspective prospect send
contact yes absolutely Nicole sites are good to know no more
cards no more cards don’t be like every other agent don’t do that cards are good
for open house for your sellers that’s how we’re talking about Jeffrey I’m
saying don’t use business cards with your prospects I’m not saying don’t use
business cards yes you’re going to use business cards when you preview property
when you need another agent when you’re negotiating contract they need your
contacting four with dome of course you exchange it on a cellphone as well but
I’m saying don’t use it hoping and thinking foolish oh they get my card of
course they’re gonna call me when they’re ready come on there are some apps to create your own
business card with all their information that you texted to anybody know just
forward them your information you want to handle the entire conversation and
communication as if you are their friend how would you do it with your friends do
you send them business cards do you give them any cards and eye cards and God
knows what now you send them your contact information that’s the kind of
authentic relationship you need to start work learning to build it’s a shift in
the mindset you’re not a salesperson anymore you’re their consultant you’re
their guide where they’re going to have your personal information where they’re
going to have a connection and a personal relationship especially in this
world with so much noise and data overload we live in where there’s a one
guy or one gal that they can trust they can respect they can connect with so
don’t look for apps fuck ABS don’t don’t worry about apps it’s about the
connection with them where they drive by a property go holy shit that’s a nice
house let me text Kristen let me text John let me take scale are you getting
it it’s a different minds a different perceptions a different relationship
different dynamic it’s not about apps very different yeah so do you include business cards in your
expired package yes you can you can bottom line is you going to reach out
and initiate the conversation with them anyway then calling you because left the
business card there sometimes but not very likely but a good question
silly Isis I think a lot of agents forget that they’re offering a service
more than a product yes you’re finding or helping sell a home but more you’re
selling a service your expertise your work your initiative and attention to
detail the human component compassion and care are what they look for and need
brilliant insight Tilly absolutely as I agree with that 100% yes yes yes yes all
right guys let’s see I want to make sure I don’t miss any of the questions
Marisa so you don’t recommend putting business cards in the experts package
either I still probably would that’s a good question your contact information
is on the cover letter which i think is the action point of the package your
contact information is on the trifold brochure which i think is more action
point of the package and I think that will get their attention way before your
business card will is it essential I don’t think so okay would it make a huge
difference I don’t think so alright Jeffrey says technology wanes as time
goes on Facebook was even more powerful seven years ago it was 300 percent of
what was posted on pages shot in your feet just less user Zillow was trending
tech three four years ago now waning tech it always the challenge of being
there will always be something new obviously Facebook right now is a
hot-shit you can make a lot of money on Facebook
if you have the budget for it and the skills or you hire somebody can do it
for you it’s not a bad place if you incorporate it is one of the systems we
talked about you can make it work many agents do just like Zillow you can make
it work if you have the budget and the expertise to make it work contact inside
balls Zillow’s fantastic way of getting leads I would definitely go for it
talk to some people make me move although most of them la-la-land they’re
smoking some really good shit thing that they’re going to get what they think
they’re going to get for it but it’s worth to talk to because occasionally
you may find a diamond in so all these things are tools they’re
available yes the economy is changing the world is changing everything is
changing that’s just part of growth that’s just part of life my point is
there will always be a small group of agents who will crush it who will kill
it because there will always be a demand for an expert there will always be a
demand for somebody that can trust somebody I can confide in somebody who
can explain this is what it really means and here’s what we should do there will
always be a room for that and it was always be plenty of people willing to
pay a lot of money for that service that’s the bottom line
that’s really where we’re going and it’s going to be even more essential for you
to stand out in that noisy technology crowd to have that authentic connection
and communication with people you know what makes me stand out I communicate
authentically and I get these comments constantly yesterday somebody sent me an
email saying I should clean up my language you know why I don’t it’s not a
pose this is not like I try to be cool or sound different I want to be
authentic with you if you can extend the same authenticity – the F words to your
clients you’ll be unstoppable if you combine it with some systems that
generate plenty plenty leads that you can select from you’re a rock star
that’s how everybody does it everybody who makes the money you want
to make that has the lifestyle you want to have we still look for that magic
answer you know there’s this one website if you just give money to this website
they give you the bestsellers and you’re going to crush you’re going to kill it
bullshit there’s no one single magic answer the magic answer is you grind
your ass off you work your ass off you combine it with some systems and some
skills you’re going to do well with the real estate and medicine law in any
profession the only difference is to become a good doctor like I told you the
story about a friend of mine who’s have them become a neurosurgeon brain surgeon
in San Diego it took in 13 years to get there thirteen years he owes over
$300,000 in student loans that he’s going to pay back his salary will be
three hundred twenty thousand dollars a year a lot of money but think about it
13 years to get there you can reach that in three years I have students who did
it who’ve done it it within three years they reach that same level of thinking
about everybody and I can guarantee it obviously
but it’s possible it’s doable zero student loans three years versus
thirteen and if you fuck up nobody dies if my buddies is my friend’s husband
fuck so somebody’s going cold six feet under you understand the difference
that’s the difference that’s the opportunity you have so don’t squander
it yes it’s going to be hard we could have hired either way to me making fifty
thousand dollars is much harder than making five hundred thousand dollars a
year it’s going to be hard either way don’t get stuck on Tazewell this is
easier fuck that what is profitable what is profitable what is bringing
leads what is bringing dollars what is bringing in appointments what is
bringing liftings but how you feel about it what’s wrong with you
this is all about feelings feel good I feel good if I’m a hundred five million
dollars you’re a million a year I feel pretty damn good you’re not saying so
get over this whole I don’t feel I’m feeling this feeling that rejection and
people and grow up you have a phenomenal opportunity to be at the same income
level as neuro fucking surgeon and you’re gonna throw it away because of
feelings fix your feelings change how you feel if you can it’s not just crying
through it you make half a million dollars a year you’re gonna have a
comfortable lifestyle it’s gonna feel pretty damn good did bring it down good
looks like a lot of you agree excellent all right justice thank you for a
valuable opinion it makes sense what you said about the absent business court now
don’t overthink any of that I’m just saying if you have the opportunity to
initiate a two-way conversation rely on that not some piece of paper where you
hope they’re going to keep and call you back people are busy people are
distracted there are million other agents going for the same lead for the
same business don’t rely on that rely on your high status your expertise your
ability to help them you being unique that’s your business card Debra so many CRN’s to choose from my
company is changing the CRM system and their offering and has a new one but I
don’t want to be with the situation getting would rather have my own not
sure which one to use that’s a really good question Debra first of all I don’t
recommend you guys should be using your company CRM because if they decide to
change if they go under if some asshole who gets pissed off at the company
figures out the way to get in and trust me if hackers can figure out to get into
a fortress of a bank your CRM piece of cake to a lot of these people so don’t
get yourself your leads are not safe if somebody leaves the company the company
changed there’s all kinds of thing that can go wrong your leads are your
livelihood your leads is your business you work your ass off I would not let
over a few dollars a month if somebody else control over them I would insist to
have my own system now with that being said first of all let me tell you
something about CRM there is not a perfect solution out there ever never
has been never will be you have a lot of choices none of them is perfect none of
them is exactly what you want but there are plenty of them who will do exactly
what you need okay there are plenty there are three I would
suggest normally I suggested two I’ll give you three to look into
RealtyJuggler very basic very simple it will get the job done it will help you
stay in touch with your leads it will keep your name in front of them it will
remind you and prompt you it will keep you on track and you will get more
appointments more lease more listings more business as a result if you use it
it’s going to take you about 2 or 3 days to learn the basics how I put leads how
I set up a campaign how are executing campaign
how I update elite that means you talk to someone they said we’ll be ready in a
month we’re still repairing the roof a couple other things let’s get together
and you need to know how to do that two three days tops then you’re going to
hand it off to either your virtual assistant or your actual assistant so
that’s the first one wheel to juggler they are about hundred bucks a year
honey bucks a year that’s less than ten bucks a month
very inexpensive it’s not fancy doesn’t have all the bells and whistles but
they’re getting better they were built by real estate agents the two guys who
started the company Scott is one of them they were in real estate so they know
the industry well it’s not perfect but it’s good enough it will definitely get
the job done that’s the first choice the second I would recommend is lion disk I
really like lioness now just like any other system they have their growing
pains it’s not perfect they’re working on it they’re good people running it who
want to help you but because of their success some of it because I promoted it
heavily and I really believe it and I really like them they’ve grown so fast
and so many just jumped on it they’re experiencing some growing pains it’s not
perfect again but out of all the choices out there you combine what it’s going to
cost you which Lyme disk is about we have a deal with them and I don’t want
to quote you wrong number so I don’t really know but how much it is but we
have a special deal with them it’s like two hundred twenty dollars twenty thirty
dollars a year you get like a nice big package and if you really want I can
post it I can post a link to it if you want to sign up for it the third option
is everything else out there there have a whole bunch of others I exact contact
there is top producer there is a follow up boss they have all pros and cons some
are really expensive they do all kinds of crazy cool shit but you’re going to
pay through the nose some are very basic and they don’t do everything but they’re
inexpensive at the end don’t overthink it get one learn it use it that the best
CRM you can get the one you’re going to get you’re going to spend a couple of
days learning it and you’re going to be using it is the best one
Deb our that’s your answer was it helpful that roses be yourself
you’re awesome fuck you all I get these emails from people you know it’s funny
and the question I always I never really asked it I don’t engage in debate it’s
not about debating you know I’m not gonna change this is who I am you guys
like Who I am so whatever if my information doesn’t resonate within my
language is not important if my information is not helpful I can have
the choirboy language it’s not going to change anything but here’s the question
I had I have two people one says you need to say fuck a lot the other one
says you should not say fuck at all why should I choose a request from this
guy I’m not this guy how is this guy better than this guy why should I listen
to that you know what I’m saying like who gave the right to this guy to tell
me how to speak and not this guy think about it
just something to ponder Samantha says keep being you
oh I promise you Victoria has a really good question I have a bunch of ex-parte
that I have not been able to reach and have them on a direct mail how would I
change the initial conversation when I do finally reach them I allocate a
calling session to these that’s a really good idea you haven’t expired
you went there a couple times knocked on the door nobody home you left the
package and now you’re following up I would suggest once in a while go back
and see if you can revisit them on the weekend I would line up I would play to
connect the dots so here’s what I would do on an average Saturday if I didn’t
have appointments so what I would do I would take like five or six or seven of
those experts make a new set of package is not the personalized one this time
only the brochure the very basic one generic ones and I would get all expired
number one expired number two expired number three expired number four expired
number five then I would pick a couple of new listings in the neighborhood
there is a new listing I wanted to see I’ll say pending sale here and then
there is a past client I wanted to say hello here so it had these dots on a
magnet back then I’m dating myself today’s remember Tomic guide the big
book with a big binder it would get shredded after about a year I would have
to replace it big colorful math book those before GPS and all that so it make
a black-and-white print out and then I would play connect the dots stop number
one stop number two four six seven eight nine back to the office
and that’s what I would go back okay the language does not change I would ask
them I know your house was up for sale I know you probably were bombarded by a
bunch of agents mailing you stuff calling and all that
have you relisted the house is it back on the market
most likely no because there’s no sign but you want to make sure that they have
them sign anything and you go right into the dialogue let’s the bar it kind of
didn’t from nice house really surprised would you still be interested if a buyer
walks in tomorrow they offer a good price they fall in love with the house
like you guys did first time you saw it would you consider would you like to
live somewhere else if you could have it any way you want to where would you
rather be would you rather stay here same neighborhood same house and
everything that would you be better off somewhere else
well why what draws you to to Florida and you engage them in a conversation
again authentic real communication rather than reciting scripts and asking
questions like Inspector Columbo no good okay good answer next you normally and
just go through the question five ten-minute tops then preview the
property if you can if it’s appropriate and if they allow it which is fine if
they don’t sometimes the house is a mess they can have various reasons you know
they may be negligee in the bedroom after a wild night you don’t know empty
bottle of champagne or whatever you know that’s just an average Tuesday there and
the Barrino household I hope Amma is not watching anyway but you get me so if
they allow you to come in fantastic continue the conversation is not to say
fantastic you say you might be ready in a month let’s do this let’s set up
something right now we could get together for a few minutes meanwhile
I’ll send you some cool helpful information who knows maybe this is a
good time for you to get down to Florida maybe not but at least you know where
you stand you have all the answers you will know what is the most a qualified
buyer would be willing to pay how much it’s going to take to sell how long are
they any good repairs that would enhance the property possibly more cash in your
pocket and then you decide maybe you are better off staying here I’m not here to
pressure obviously I’m not here to make decisions for you my job is just to do
enough answer so you guys know where you stand you feel comfortable with the
decision what the decision will be will be up to you done nice and easy and I’m
not touched if they say no get lost or they say he’ll come on in you’re
thing ever or anything in between would you like some champagne
Your Honor II that happened that actually happened wine it was wine okay
so I hope that was helpful Jeffrey has a really good comment I’m
finding anything that makes you more productive and save time daily is where
you spend first core efficiency like an assistant or the fourth line dialer or
one line dollar versus the phone exactly take your budget that you have
and do the best you can with what you got but look at all these tools and look
at all these systems that will make you faster more efficient generate better
leads more lead faster so you can convert them into listings how people
get paid that’s really the bottom line now you’ve got to be careful because our
industry we are kind of played with a shiny new right something new and shiny
comes out and oh I want that I need that so be careful evaluate it’s just really
producing the result and if you take 60 days and you’re not getting shit you
know you got to pull the plug on it or fix it don’t go for too long that’s why
I would never sign up with any of these deals for a year mm-hmm unless you know
absolutely you’ve tested it and you know this is producing the results I want
yeah so very good point Jeffrey the vs thank you my pleasure good Christina
says what was the last one the last one what it was really sure what you’re
asking okay great all right guys so we took care of the
Zillow crisis everybody calm down stay focused improve yourself because
really can you control what dillos gonna do no can you control what the consumers
is going to do no you have no control of the public you have no control and
here’s the reality nobody has your back but you nobody cares there’s no
buddy out there who’s got your back other than me of course but I have
vested interest I want you to do well and there’s a reason for that once you
spread the word – you’re an example to others and I like when you do well that
makes me happy and you buy more of my shit you give me more of your money you
make more money everybody wins so I am biased in this but if you really think
about it your broker does not have your back because statistically over 80% of
real estate agents fail they don’t leave the real estate it was a great
conversation we had here on rockstars right why agent sale none of the answers
of because they make too much money nobody leaves this industry because they
got too rich and they didn’t know what to do with the cash why do they leave
you understand so your broker knows that only one of two things will happen
either you do well and leave or you fail most likely you will fail eight out of
ten do and look at the turnaround look at the turnover indeed look around when
you started in your office are they the same people around you’re probably not
people come and go all the time so your broker doesn’t care nobody really cares
Zillow doesn’t care your Board of Realtors doesn’t care people care about
themselves their profit their well-being they want to feel better they want to do
better and if you can help them on the way that’s great but it’s still about
them just like this wave of new stuff coming out is because the consumers
demanded the sellers demand so you got your back you watch your back you
protect your best interest and do we do that is you take care of your clients
because you understand if I take care of my client if I have their best interests
at heart and if I serve well and if I surf enough of them I’m going to crush
it and you will there’s no doubt about that’s how it works the sides always
work yeah you want us us thanks for another great session I always learn we
do this every week every Tuesday free beats like this I’m telling you there
are coaches out there who do coaching sessions like this one every week and
charge you five hundred dollars a month membership no joke we’re getting a
pretty good deal and good good honest answers from a guy who actually was in
the trenches like you for years got their phone slammed my face got a door
slammed in my face gun pointed at couple times all kinds of
stuff so I can relate and I climb up you know pull myself by the bootstraps and I
want to show you that you can do the same or that you if you doing well you
can do better Rey would like to know is yesterday
training somewhere to listen to and you replay for yes the yesterday which was
really good session very different for what we normally do because uh Shana is
very unethical I mean she goes by the numbers and she broke it down here is
what we did she was talking about the sales dialer here’s what we did here’s
what we called here are the results and here’s how we did it she completely
opened her books where he could see exactly how it was done how they
prospect she also showed you the process and a system and they use sales dialer
by the way that within 60 minutes they can get one appointment which is pretty
cool they’re using four lines their machines prospecting machines the replay
is posted we just posted it yesterday on the list University so check it out it’s
there if you remember if you’re not a member come join us it’s a great
resource great site great site where we post all kinds of training and interview
this Friday I’m really excited mr. brian kocel is going to join me we’re going to
talk for about an hour about him doing business generating leads doing really
well looking cool driving cool cars being mr.
sexy of California so I’m really excited it’s exclusively only for listing
University members it’s not going to be live it’s going to be recorded and it’s
going to be posted over the weekend so if you are a member
check it out if you’re in the boot camp you for six months of listing
universities and definitely check it out it’s going to be good I’m really looking
forward to chatting with you Brian that’s going to be really good stuff I
love talking to people who walk the walk my case says we really appreciate your
love of this work and willingness to help us I’m very passionate about it I
was having a child with my son Phillip Phillip you wanna come say hi no he’s
sick today he’s hanging out in the house and he just come say hello come on just
say hello he hasn’t been feeling really well but he likes to check out his Papa
doing his show say hi to dad that’s Phillip so we had a conversation today
oh look at all the love you’re getting by
we were talking about why I do what I do Philip likes to hang out when I do my
broadcasts and I do my things and I explain to him I’m very passionate I do
just like you love this business and I know it’s hard when you’re not making
the money you’d like to make or you feel you deserve and I do believe you do that
makes it harder but if you can find the passion and joy in where you are today
because of the potential where you can be tomorrow figuratively speaking that’s
a blessing and that’s what I like my kids to find that kind of passion
because if I’m able to touch your life and make it better and different quickly
then I went whether you’re going to become a client in pain or not is not
important because I know just like you not don’t click with every client it’s
fine I’m doing well and your success is my ultimate currency that’s the number
one yeah what are my friends Mary and everybody is wishing you to
feel well my dear you get a lot of comments from people wishing you good
health stay strong post link of lista
University Kathy its listing University comm listing University comm you can
join its 47 bucks a month less than I spend in Starbucks no big I guess so
come join us it’s a good program and if you get any of my systems it comes free
for 30 days all right Marcus thanks for great kids boring oh my pleasure
Mary’s wishing well as well filling Brian wishing you well everybody else
all right my friends let’s wrap this up fantastic to talk to you we’re going to
do this again next week by the way one last thing thank you for all the nice
welcome we have cat now joined Kathy joined our our team I’m really excited
we’re easing her in getting introducing her to our systems to you guys and thank
you for your lovely welcome she received on rockstar she’s very excited to work
with us ma’am really excited she’s going to help us out she’s going to interact
with you she’s going to handle a lot of the customer service the emails the chat
the phone calls and all that we’re getting busy the company’s growing so we
needed somebody to help out and I’m thrilled she has the sweetest nicest
personality she is so pleasant to work with I’m really excited so thank you for
the hellos to Kat I’ll see you all next week
rockstars who are in the boot camp I’ll talk to you tomorrow next boot camp
coming August 23rd I’m really excited about that and with that wishing all
fantastic Tuesday afternoon coach Marino signing off let’s go get him I’ll talk
to you all real soon bye everybody

2 comments

  • McNatt Real Estate and Auction McNatt

    Great video Borino Borino….I was thinking while listening…seller in my area should take heed …Zillow is always out of line with their Zestimate …I've sold homes
    10-25k more than their zestimate bologna….

  • Tni LeBlanc - Realtor, JD (805) 878-9879

    I think the treatment of a society’s most vulnerable people speaks volumes about the character of that society. The weak, the sick, the disabled, children, the elderly, the poor, the uneducated, the under educated, and those that are otherwise disadvantaged. And, I believe an industry’s treatment of vulnerable people speaks volumes about it as well.

    When are even normally strong-willed, well-educated people most vulnerable? When they lose a parent, or a loved one, or a spouse. When they lose a job. When they are getting married. When they are having their first baby. When they find out that they have cancer and can’t work. Consequently, this is also when a lot of people want or need a real estate transaction. Anyone who has been in real estate and earned a living at it knows this well. So, this isn’t just some odd occurrence. This is a big part of our industry. And we have a responsibility to our consumers. Zillow has a responsibility to their shareholders — tomorrow they could decide they want to sell hotel reservations. But I, for one, will still want to be here selling real estate.

    The sellers attracted to an “instant offer” are often the most vulnerable sellers there are. People in financial and emotional distress, and Zillow is serving them up on a platter to investors and encouraging them to do so without representation. I don’t care if there are some agents who want to participate in the program (it is to be seen what will happen to agents who opted to participate in the Zillow Agent Co-Marketing program that is currently being investigated by the CFPB). And I don’t care that there are some uninformed consumers who may want to participate in it. It is bad news for the consumer, they are being encouraged to accept less, and it is now being hawked on the biggest real estate website online

    I consult with people in distress all the time that think they should sell a property, some have good reasons and some have really bad reasons inspired by their current emotional and/or financial state and they really just need to know their options. Some think they need to sell their home because they have a large bill or need a repair to their home they don’t have the cash for, or they don’t understand bankruptcy law or taxes. And I refer them out to people that are going to take care of them. How are they going to get that information with an Instant Offer? I had a past client who wanted to sell because she had a contractor tell her they would never be able to fix a condition in her home. I’m sure he had an Instant Offer for her too. A referral to a competent (and disinterested) contractor nipped that in the bud. So this is also about people keeping their homes in many cases, which for so many families will be the only real financial investment they can make.

    A CEO of a major investment brokerage firm once said that he invites job candidates to breakfast and instructs the restaurant to get their order wrong as a part of the interview process. His goal? To assess their character. How is he doing that? He makes the restaurant employee vulnerable and he watches how this job candidate treats them. Now this candidate is maybe nervous, but still has more power than the restaurant employees. How do they act? He thinks the answer speaks volumes about the person, and I would agree.

    Here we are at the precipice of big changes in our industry. Nervous, but with more knowledge about real estate than the average person. Now how do we treat our most vulnerable consumers? Make no mistake, this is about our national character, and this is definitely about the character of our industry. I mean, is Zillow’s Instant Offers the best we’ve got for our most vulnerable? Are we going to protect them this time around? I hope so.

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