Episode Transcript
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Tom Panos (00:00):
Okay, the Facebook
Live sign is up.
The Zoom sign is up.
The people are starting toenter in.
We're pretty excited.
A very unique million dollaragent podcast today.
Troy is not joining us, but wehave with us Tony Odoiti, and in
(00:21):
case you don't know who Tony is, well, you're going to know a
lot about him in the next hour.
But just to give you an idea,tony came to speak at a real
estate gym event three monthsago at Bowen Hills at News
Corp's office, and I rememberlistening to you for 20 minutes,
tony, and I thought to my Itold you straight away.
(00:43):
I said you've got to speak.
I actually didn't hear youstraight away.
When I went to Melbourne thatnight.
I rang you up that night.
I was on the.
Actually it was on the plane.
I remember sitting on the planethinking I've got to lock this
guy, lock this guy in.
And I remember ringing you, john, the next day and had never
seen a presentation that had thecombination of authenticity cut
(01:04):
through, that had thecombination of authenticity cut
through.
It was thoughtful, it washumorous, but, most importantly,
the crowd that was there saidthis is as good as we've ever
seen.
So I thought you've got to gethim at ARIC.
So, tony, welcome.
John.
Thank you for joining us againfor one of our last podcasts
(01:25):
second last podcast, I think, orthird last podcast of the year.
We'll probably do another oneto two more after this Exciting
and I know that you're pumpedand I know that you've had
conversations after that becauseI know that he's now becoming
part of the McGrath organisation.
But, john, great to see you andgood to see you, tony, thanks.
John McGrath (01:42):
Tom.
Thanks Tony, Welcome Tony.
Yeah, it's funny, Tom, becausewhen you and good to see you,
Tony, Thanks Tom.
Thanks Tony, Welcome Tone.
Yeah, it's funny, Tom, becausewhen you said that to me, I said
, well, I'll let you in on theconfidence that we're actually
in quite protractedconversations with Tony about
joining our brand and, as itturns out, probably more by good
luck than good management.
Today, I think, is your firstofficial day with us, Tone, you
(02:02):
and John Eyston, your businesspartner.
Tony O'Doherty (02:05):
First day, first
day in black, and we're excited
.
Tom, thank you for the intro.
I feel as though the peoplewatching can only be
disappointed when you sell mehighly.
The only way is down.
Guys, please carve yourexpectations.
John McGrath (02:18):
It gets worse
every year.
Tom Panos (02:19):
That's why tip number
one.
Tip number one everyone don'tpromise too much and you'll
never disappoint.
John McGrath (02:27):
Yes, yes, yes,
We've screwed that up.
Tell us with that charmingaccent of yours clearly you
weren't born in Queensland.
Give us a bit of an idea,because a lot of people have
heard about you but they don'tknow much about you.
So tell us a bit more about howyou ended up in Australia,
where you came from, how youended up here.
Tony O'Doherty (02:46):
John, as we've
discussed, I'm a Limerick-born
Irishman.
I came to Australia in 2011.
I would love to say I was a manwith a plan and it's all rocked
out In reality.
I came with my bags on my backfor a six-month a bit of a
look-see, you know.
See what was going on.
Um, I was 21 at the time.
(03:07):
I'm 34 today, uh, as in, nottoday, but I am currently 34.
So I've been here.
I've been here, uh, that lengthof time.
It's been amazing.
They don't call it the luckycountry for nothing.
It's where uneducated men likemyself can, uh can, reach their
full potential.
John McGrath (03:24):
So yeah, and real
estate.
So you got to Australia.
You're kind of backpacking.
You thought I'm going to have alook around.
This is a pretty cool country.
Maybe I'll stay a bit longer.
How did you end up getting intothe world of real estate?
Tony O'Doherty (03:38):
Like a lot of
Irish males, I was stuck in the
construction industry.
It's like the default positionof those of us and for some
people it is a great career, butfor me it wasn't.
It was the default position ofa guy who hadn't found his way
yet.
And I found it by accident andI speak purely on my journey,
because construction is a greatindustry in its own right.
I actually got injured I had abulging disc in my neck, nothing
(04:03):
too major, but at the time Ineeded to re-skill.
My father owned a real estatecompany in Ireland, but real
estate in construction for acouple of years.
(04:24):
I got into real estate in 2015.
It's coming up 10 years andit's been amazing.
I wouldn't change a thing.
You know it's given me so much.
But just like you, gentlemen,like let's be honest, it takes a
lot.
You know you get out of thissport what you put into it.
And I put 10 years in and maybe, yeah, the best part of 10
(04:49):
years in where you know, thecadence was high, the work ethic
was high, the drive, thedetermination, the output.
John McGrath (04:55):
The output has
been high and we've achieved
phenomenal things um throughhard work and dedication yes,
I'm gonna ask one more questionand throw over to Tommy so early
days, because there's somepeople on here that are, you
know, sort ofmillion-dollar-plus writers.
There are other people that arewhere you were when you just
described, when you started,tony, sort of you know they
(05:17):
haven't kicked many goals yet,they've just started out.
They're kind of looking forsome sort of a formula they can
follow, to kind of follow inyour footsteps, if there was any
.
And you mentioned high workethic, high, high cadence, which
I assume probably means energyand speed at which you're
operating.
What are some of the other tipsyou can give for the people
that are more of the startingout or maybe have been in it a
(05:38):
few years but they haven't yetgot into that momentum state?
Um, what are some of the things?
As you look back, you know adecade ago that you kind of did,
and probably still do to thisday, that made the difference
and got you into momentum.
Tony O'Doherty (05:54):
Well, I suppose
the one big advantage that an
agent starting out has over allthree of us here today is time.
The more successful you become,the more of your time that's
just taken away, that'sallocated, that's used and when
you're on the start of yourjourney, you have time, and it's
(06:17):
something that most peoplestruggle with.
We call it discipline.
They struggle with thediscipline.
The other thing they strugglewith is the freedom right,
because you go and work for anyemployer right A big company,
mcdonald's, whatever it isyou're told what time to turn up
.
You're told what time to haveyour lunch.
You're told what time to leave.
You go and join a McGrathoffice tomorrow.
No one's going to be clockingyou in and clocking you out.
(06:38):
You know they'll look backthree months later and see how
productive you've been.
But I think most people need tobe very mindful.
There's this myth about timemanagement and you can't manage
time because there's a certainamount of seconds and minutes
and hours and you can't managethat, no matter who you are.
So the word is prioritizing.
I think if they prioritizetheir time, understand what the
(07:00):
dollar productive tasks are andpark everything else.
Get you know, park everythingelse.
So my simple message it's it'snot even I wish it was more wise
or insightful or revolutionary,but it's simple because it's
the one that they're all um,that we all struggle with at all
levels.
And that is time.
(07:21):
And you know, is it?
Warren buffett describes the wayhe describes savings.
He says our generation theysave after they've spent instead
of spending after they've saved.
And it should be the same withyour calendar and your time.
You should be blocking out.
Here's what I'm doing.
I'm doing this now and we knowthe tasks.
We're talking about Prospecting, door knocking, getting in
(07:43):
front of clients.
You know a lot of people at thestart of their career.
They're hiding behind computersand laptops and softwares and
socials.
My view is get in front of morepeople, talk to more people,
change people's lives, butyou've got to be bringing value
as well.
John McGrath (08:00):
Sorry, tom no go
on again.
Tom Panos (08:01):
Yeah, I was going to.
So the people that watch andlisten to this podcast probably
are broken up into three groups.
The first group I would call asan emerging agent, that's on
the younger side.
He or she would be happy to do10, 15 deals.
(08:24):
They just want to stay alive,they're pumped, they've got
visions of nice cars and they'rein the earlier phase.
Then you've got a second groupwho have survived, they haven't
quit, they're in the game andthey're in growth mode.
And then the third group, whichyou fall in that category, so
(08:45):
does your good mate, alex Jordanand a small group of other
agents around Australia and NewZealand are pinnacle agents.
They're on the map, you know.
They're sought out.
Vendors high quality vendorsthat are coming on the market
right now, will say I'm gettinghim in to hear his story, they
attract business.
Getting him in to hear hisstory, they attract business.
(09:10):
At what point do you think it'sright for an emerging agent,
the one in the earlier part ofthe career?
At what point do you think thatthey in their head have to
mentally sign up for what you'resaying?
The long hours because they'vegot the time and often doing the
uncomfortable activitiesbecause no one's really calling
them and they don't havelistings to list off, listings,
if you know what I mean.
How long was that period, ifyou can recall.
Tony O'Doherty (09:33):
For me.
I was so ambitious.
I never came out of that period.
I just kept pushing and pushing, and pushing and that's fine.
I didn't have balance.
The top 1% in any industrydoesn't know how to spell
balance.
They don't coexist.
And I'm not sitting here sayingto your thousands of followers
or audience that you should goand be a workaholic and die on
(09:55):
your tools.
I'm not saying that.
I'm saying that you should behighly productive.
If that means you're gettinghome to your wife and kids
earlier, then fantastic.
The only reason for you towrite more GCI and to help more
families transition in and outof homes is if you want to.
You know, if you want to.
So for some people and the otherthing I'll correct you on, tom,
(10:17):
to a certain degree I workedall the hours of the day for a
certain period of my career andthen I started to get clever and
started to say no and startedto get really productive.
So when you're highlyproductive, you don't need to be
in the office all day and allnight, because when you're in
there, you're on and you noticeyou guys see it all the time
(10:40):
like half the people in theoffice are in the office, but
they're not.
They're not.
They're not.
The output isn't there.
They're socialites.
They're around the water cooler, they're talking to whatever it
is you know.
Just be productive.
Tom Panos (10:55):
I noticed you've been
doing a few videos with Alex on
social media.
They're great to watch and Iurge anyone that wants some
thoughtful, deep, meaningfulconversation and banter between
two agents who are in thetrenches.
I mean, the truth is, john andI we might occasionally go to a
listing presentation with acoaching client, or John goes to
(11:18):
presentations with McGrathpeople, but you do that.
You and Alex do it.
How does the Alex do youcompete against?
Is that where you met eachother, you compete against each
other?
Tony O'Doherty (11:28):
We have never
competed against each other at
the listing table, fortunatelyfor me.
I think there was a time wherewe competed on the scoreboard.
So Alex is currently.
He's found another gear andhe's kicked on again and he's
currently the number one in thestate.
Probably back in 2021 uh, wewould have been very equal in
(11:48):
the level of high performance.
Um, and he's just.
Alex is um, he's a differenttype of agent.
He's a guy who I describe witha higher intellect when people
think about real estate agentsum, not the general public,
because then we know what theythink of us.
But when you know, I'd oftenhave people say to me at home
right, and I'm from ireland, um,my original home.
(12:10):
They'd say oh we always knewyou'd make it, you're, you're,
you're a great talker, you're agreat salesman.
But that's not really what anelite agent is to me, a real
elite agent is a good listenerand can ask good questions and
has a high emotionalintelligence.
They're not just a mouthpiece.
And alex is, um, he's hard tokeep up with.
(12:30):
Uh, he's very across, he's,he's uh, alex is an expert in
his field, in an industrysurrounded by amateurs, and
that's the brutal reality of it.
And if you are going up againsthim, oh, you're in trouble,
you're in trouble.
Good luck, good luck.
John McGrath (12:47):
Maybe on an off
day you might get a chance, but
I don't think so let me touch onthat because, uh, aj, who's a
dear friend of mine also and allof ours, um, and I know that he
was, he's a friend of yours buthe's also been a bit of a
mentor to kind of help you growyour, your business, and I, I
asked him today.
I said, said I'm going to beinterviewing Tony and Savo.
What are your insights, becauseyou've been close with him for
(13:10):
a long time.
I said why is he successful?
He said these are his exactwords.
I scribbled them down, john.
He's highly motivated, he'shungry and competitive.
He's a genuine fella thatalways does the right thing by
people.
Tom, this is like the reason I'mgoing through this is, if
anyone's listening now well,there aren't many people
listening this is a great pathMotivated, hungry, competitive,
(13:32):
genuine, does the right thing.
He has a good process.
He's laser focused on hisgeography.
Therefore, he's built a greatreputation and he's surrounded
himself with a good team.
Well, I mean, that's it, butlet me just take you through a
few of those and hear yourreaction.
There, tony, I mean motivated.
It's not hard to be motivatedfor a day or an hour or for a
(13:54):
week.
It's hard to be motivated for adecade or a lifetime.
I mean, what do you do to keepyourself at peak mental fitness,
not just physical fitness, peakmental fitness.
How do you say strong mentally?
Tony O'Doherty (14:07):
it's interesting
, john, because that's something
I've only focused on in thelast couple of years.
So the motivation and the driveand this is my opinion you
gents have worked with a lotmore people than me.
I think it's something you haveor you don't.
You cannot motivate anunmotivated human in my
experience.
So when you motivated, the nextstep is discipline.
It's making sure you're doingthe right stuff and the stuff
(14:28):
often you don't want to do thedaily tasks.
To answer your question, onlyin the last couple of years I've
really focused on my behavioroff the pitch, as I describe it.
It's very important for yourbrand that you are a clean,
crisp human.
To a certain degree.
We all got to live our lives aswell, and I think fitness is an
important thing.
What are you doing for yourmental health?
(14:50):
I think in our generation wekind of think as though we're
entitled to it.
You know we food.
We should feel great, when inreality you're only going to
feel as great as your behaviors.
So I've I'm not a perfect human.
I'm an Irish man with Irishtendencies, and the first couple
of years of my career in my 20s, I would be at every function,
(15:13):
every gathering.
I'd go to the opening of anenvelope just to be social,
which is all very well and good,but it wasn't helping me before
.
I think the really goodprofessionals in any game they
see themselves as athletes.
You know you have to be sharpand in our game, in the areas
(15:33):
where I'm operating, there'speople that will take those
listings if you're not sharp.
So I have an obligation tomyself, to my family, to my
current clients who I'mrepresenting.
You know if a buyer rings youand you're having a negotiation
with them, you've got to.
You know you've got to be ingood form, you've got to be
ready.
You've got to be sharp andyou've got to know that a family
(15:56):
goes to work every.
A husband and wife go to workevery day to earn on average.
You know, let's say the averageincome in Brisbane is 70, 80,
100, maybe in my area 100,150,000.
They go for a year to work togive half it to the taxman, to
try and save a small bit ofmoney at the end of the year.
I can make them a year's wageby using my skills that no one
(16:17):
else around me.
Well, without talking anyoneelse down, I believe in my team
and our process as the abilityto give somebody years of their
income in a conversation.
So how dare I not be ready forthat conversation?
John McGrath (16:32):
you know they
hired me for that.
Tony O'Doherty (16:34):
I need to be
better when I'm representing
them than I was at the listingtable, because a lot of us do
that.
A lot of, a lot of a lot ofdialogue and training from
agencies and coaches is basedaround the listing table.
But that's just an opportunityto go to work.
Yeah, I get it.
It's fundamentally massive.
You don't have an industrycareer without it.
But don't be better at thelisting table than you are at
(16:56):
the negotiation table.
That's just selfish and youneed to be ready for all of that
.
Tom Panos (17:02):
Yeah, that's well
said.
I'm curious, the model, yourmodel.
You're a director that has gotyour own pod super team, ebu,
whatever term you describe butyou're also the owner of a total
office.
Tony O'Doherty (17:24):
So that has
recently changed.
John Tom, Six months ago Iowned a rent role.
I owned an agency.
I was a high-performing agentand you can only wear and maybe
it's me, so I'll speak aboutmyself I was only able to wear
one hat very well, and that hat,that job, that role, was
(17:44):
assisting a mom and dad get thebest outcome for their home.
I believe I'm a really goodreal estate agent, simple, as I
wasn't a really good propertymanagement leader business
leader, john Ison, who is alongstanding friend of mine, has
joined our business.
He is now running the businessitself, so making sure that
(18:05):
agents have everything they needto progress.
We have sold the rent roll forthe time being and my only focus
is my team around me and thepeople that trust me with their
most valuable assets.
So I feel I feel 10 kiloslighter, I feel a few kilometers
faster and I just feel readyand vicious.
(18:27):
I have nothing but clarity asto what I'm doing, with the
backing of John and hiswonderful team and network and
the global network that they arenow we joined today.
Today was day one.
I had a phone call from fromKnight Frank's CEO.
They've all reached out just toshow their support, and the
(18:47):
amount of McGrath principals,heavy hitting, busy men and
women that have been on thephone to me today already is
overwhelming.
So I feel a great obligation tomy family, first of all, and to
the McGrath family, second ofall, to make sure that when my
clients are finished with myservice, that their lives are
(19:09):
better.
Tom Panos (19:11):
I've just so, so, so
well said, and I've got to tell
you, john, you must be feelingabsolutely privileged to be able
to get someone of the calibreas a professional but also as a
human, because I know John's gota, a policy he, he, he loves
the numbers, but he also likespeople that are good people that
(19:31):
write the numbers, and hedoesn't like people that are bad
people that write numbers andhe definitely doesn't like
people that are bad people thatwrite the numbers and he doesn't
like people that are bad peoplethat write numbers and he
definitely doesn't like peoplethat are bad people that write
bad numbers.
John McGrath (19:39):
Right, We've
always had that view, tommy,
antonia, thank you for that, andI'm not surprised people have
reached out, because everyone'svery excited.
Let's look at you.
You've mentioned your team andAlex mentioned your team as well
, so he has high regard for yourteam and the fact that you've
assembled a great group ofpeople around you, and I think
he might have also mentionedswim lanes that you stick in
(20:02):
yours, can you?
Just without too much minutiae?
But what is the make-up of yourteam?
What are their key roles andwhat is Tony O'Doherty's key
role within the team?
Tony O'Doherty (20:15):
My team has
grown in recent years in order
to be able to keep up with thescale that we're after and the
level of service that we'reafter.
Katie's a co-agent within myteam.
She's been with me the longest,in excessive seven years, which
is most of my journey I spokeabout.
10 years is closer to nine.
I spent 18 months working inother agents' teams.
(20:39):
I did it the old-fashioned wayand one of the last to do it
that way of jumping in and goinghard.
Katie's been with me for sevenyears.
A trusted member of my team, anexperienced real estate agent in
her own right.
She's my co-agent predominantlyin Belimba agent in her own
right.
She's my co-agent predominantlyin Bulimba.
She was Balmoral and Hawthorneas well, but she's focusing now
(21:00):
on one suburb so that we canreally increase our market share
again.
Ollie's the same.
Ollie's been with me, I think,for four, nearly five years.
Young guy came to us prettymuch straight out of school,
maybe a year or two.
Hard worker, swam at a goodlevel, going through the school
years, which is important aswell, because that shows work
(21:20):
ethic, you know, and it showsthat competitive.
John McGrath (21:25):
Discipline.
Tony O'Doherty (21:27):
Yeah, discipline
, and these are all good humans.
John you said about, or Tom,you gave John a plug, which is
highly relevant because you knowthat's how you keep a brand
pure not to tell you boys how todo your job, and you know
better than me.
But the point I'm making is I'msurrounded by good people.
They are good performers, butthere's none of them that I
wouldn't, you know, sell myhouse with or or, you know,
(21:48):
share my spare time with.
They're all good people.
Um kate was our bdm.
She was a really highperforming BDM at the highest
level.
She joined us only six monthsago from the BDM role as a
co-agent.
Bailey's been with me forprobably two years.
Each of them have their owngeographical areas where we're
(22:08):
heavily focused on maximizingthe return for our vendors,
making sure the service is sharp, making sure our list to sell
ratio is sharp, making surewe're the best in our field, in
our areas, and that's what theseguys focus on.
The backbone of all of thesebusinesses is the men and women
in the admin roles.
(22:29):
There's nobody more importantthan them.
Ash has been with me for acouple of years.
Really sharp young girl in hermid-twenties.
Ash has been with me for acouple of years, really sharp
young girl in her mid-twenties,brittany's been with us.
She came across one otherbusiness pretty recently.
So that's the makeup of my team.
My job as the lead agent is toensure that multiple things
(22:51):
obviously the listing, thelisting how do we call it?
Because it's ever-changing.
It's a responsibility.
It's a responsibility to thesellers to show up and be ready.
It's the responsibility to theco-agent that got you in the
door to make sure you're ready.
So my job is to find the net infootball terms, and the goals
(23:13):
are bringing in the business andoptimising the return for our
clients.
They're my main activitiesnegotiations with buyers, doing
my job.
What is my job?
My job is to bring in businessand make sure we sell it for
more than anyone else could have.
John McGrath (23:31):
In simple terms,
and Tony, now, now, obviously
there's a following.
There's a strong following.
You've got a great reputationand a strong track record, but
you've still got to and sotherefore, I guess some of the
business is going to find itsway to you.
You've still got to list it,you've still got to be the best
person, but things have changeda bit.
(23:51):
But what are you doingproactively?
Because I know that you've gotstrong market share, leading
market share in your three keyareas, but I also know you want
to double that business.
So how do you see the growth interms of how do you find your
new clients other than justreputation?
Is your team on the phone?
Are they door knocking?
What are some of the keyactivities that your guys have
(24:12):
been?
Tony O'Doherty (24:14):
What we're
trying to do is so what happens
in our industry?
About 3% of the market are forsale at any one time, and the
catch and kill model is to tryand find the 3%.
What the better operators aredoing is servicing the 100% and
waiting for the 3% to come tothem.
So our big shift in mindset nowis just to constantly give,
(24:37):
give information, give data,give, give, give.
Tom Panos (24:41):
I'm going to stop
there.
I can pretty much tell you thatsentence there summarises what
this whole podcast you've said,what we try and do every week in
our podcast, which is basicallysay you've got to become their
agent before they need an agent.
That is the secret.
But no one wants to do that.
(25:03):
Everyone wants the 3% that youtalk about catching fuel.
Tony O'Doherty (25:08):
Tom.
I had a guy.
He's outside of the industryand he's been following my
journey and he's a good businesshead and he sees me doing these
kind of things and he says howmuch do you get paid?
And I said most of these arejust given back and occasionally
, if there is remunerationinvolved, I give it to charity,
because I'm happy to have theseconversations.
(25:28):
And he said have you heard ofintellectual property?
I said yeah, I've heard of theconcept.
He said you stand up in frontof all your competitors and give
them all your IP.
Why do you do that?
And my answer was and I didn'tmean it in a bad way, but I said
most of them won't use itanyway.
So there's nothing and I'm notdiscrediting the concept of our
(25:54):
sport is incredibly easy,incredibly easy.
Tom Panos (25:59):
It is so easy, but
that's a good point.
Like if we know that theblueprint of real estate is
become their agent before theyneed an agent.
Then you're on the shoppinglist when the time's right.
There's a reason why don'tpeople do it.
It's actually arithmetic.
If you think about it, this ismaths.
(26:20):
If everything in life was maths, we wouldn't have all these
deaths that we do.
It's mathematics.
Why don't people do the mathsthen?
Tony O'Doherty (26:30):
Because this
equation needs to be repeated
every day, Monday to Friday andeven more so on Saturday.
You have to show up.
Turn up and have the energy.
This sport is brutal.
It'll punch you straight in theface and when you've just had a
lovely win, someone will pullthat rug straight out from under
you and you'll hit the groundquicker than you could think.
And that's the brutal part.
(26:51):
You need to be resilient.
You need grit the brutal part.
You need to be resilient.
You need grit.
And every now and then, justlike a boxer, you're gonna have
to take a belt to give a belt,and that's the part people
struggle with.
You know, you gotta bite downin the mouth guard and and cop a
few.
It's as simple as that and hetells us about.
John McGrath (27:11):
In terms of
listing and again, we're not
looking for every secret herband spice, because you do have
competitors watching here but ingeneral, are you a organized
lister?
Do you do a lot of researchbefore?
Do you just turn up and listen,as you said?
But you know what.
What does it kind of feel likeif I was experiencing a listing
with you or if I was videoingyou before, during and after a
(27:32):
listing?
Tony O'Doherty (27:33):
john.
Um, if I was to ask you thesame about your career
leadership over the decades, youwould tell me how much you've
changed and grown and evolvedand I'm the same right now,
where I'm in.
The guy that's got me to whereI am is not the guy that will
get me to where I want to be,because the thing about listings
is it's psychology and, yeah,there's different brackets and
(27:55):
there's different demographicsand different personality types.
For me, I relied a lot onenergy and charisma and things
that equate to a certain ortranslate to a certain
personality type.
What I've learned throughthrough recent experiences is
(28:16):
you need to cater for all.
You need to cater for that, forthat detail orientated person.
So, to answer your question, mybest year my team and I my best
year was 2021.
We sold 164 homes to 164families.
I I probably listed 180 homesthat year.
(28:37):
I went in personally, signedevery one of those, negotiated
every transaction or every sale.
I should say that was allenergy.
That was all energy.
But it takes a lot to rely onenergy and the problem with
energy is I don't care who youare, you can, you will have off
days, you will have off days.
(28:59):
So my strengths, my competitorswill notice when I'm on.
None of them can beat me, butthe person that beats me and
I've said this recently we gotlovely feedback um, I have a
high level of accountability ineverything I do.
It's always me.
That's just my view.
I understand that.
I understand it's always me.
Whether I want to win or lose,it's me, it's nobody else.
(29:21):
But, geez, I can beat myself.
I can give my competitors theoccasional listing, but I've got
very good at not doing thatanymore.
So energy was the word.
If you recorded me through theyears, you would see a guy walk
in, build his rapport as quicklyas possible, care about the
other person, have a goodprocess and formula to explain
(29:45):
to them and never ask them tosign.
I never did what you're tellingyour clients.
Your your clients to do whatmost, most people are telling
them to do.
Ask for the business, which isis something I've started doing
now, this late in my career.
But, john, to answer yourquestion, we're going out of
energy alone and into psychologypreparation knowing the person
(30:06):
guiding them to where we wantthem to be and where we want
them to be is with us, where wecan care for them and get them
the best we can.
Tom Panos (30:14):
Brilliant John in
that area.
There's some serious agentsthere that know their stuff.
You compete against good agents.
I'm just curious that you walkin and there's a very good
chance that there's going to bemaybe two or three other groups
(30:36):
of agents or agents doing anappraisal or an audition.
I mean, do you seem to go intothe property once and ask for
the business because you've hadthis relationship by database
and conversations, or do youseem to sort of say I really
(30:57):
need to come back here a secondtime and spend more time there?
Is it normally multiplemeetings?
Is it one meeting?
Tony O'Doherty (31:07):
Again.
Previous years it's beenmultiple, it's been multiple.
I used to always do two.
I don't do that anymore.
Now I spend more time on thediscovery call learning what I
need to learn to know what Ineed to know to to be able to
bring the best value to them onthe first meeting.
Um, so we try to focus on onenow, and there's different
(31:29):
categories.
You know it's funny.
You know, the one that Istruggled with the most and it's
it's a weird one was actuallyreferrals.
Right, because, just like youdid at the start of this time,
you gave me this glowing reviewand my clients would absolutely
sing my praises and the peoplethat see me and they'd be like
really is this the same guy?
(31:50):
They're like who's this tosser?
He's nowhere near as good asthat guy.
So I kind of grow on people.
The more exposure I get to them, the more they realize that I
actually give a shit about them.
And at the end of of acollaboration with a vendor,
(32:10):
they're they're often ravingfans, and so much so that at the
start of my relationship with anew person, they're like fuck,
he must have been, you know.
Tom Panos (32:22):
I want to ask you you
know that you're saying that
hey, it's sort of moving, youknow, towards one meeting and
you said I just started askingfor the business.
What does that sound like andlook like?
Like let's assume you came tomy property and the discovery
call and I'm definitely sellingand it connected and you felt
like the energy's there.
(32:43):
I feel like there's goodchemistry between us.
What does it sound like?
Asking for the business?
Tell me what that sounds like.
Tony O'Doherty (32:52):
In two sentences
.
First of all, you're qualifyingto see if they have any
questions and what you've justexplained to them.
So you're saying is there anypart of what we discussed today
that you want me to elaborate on?
Which part of what we discussedtoday are you most excited
about, or is there a part thatyou're apprehensive about?
So you're clarifying is therean obstacle?
Once there isn't, and I openlysay to them I'd love to
(33:15):
represent you are you ready tomake that commitment now?
Just just just ask the question.
You know, and I never asked aquestion, I never.
But and it's you know, I satwith john for a half an hour, an
hour, a couple of weeks ago andyou know the thing he took away
from it and we won't go intotoo much detail.
But sometimes the conversationyou're having within can become
(33:36):
very, it becomes reality.
So if you have a lack ofsomething and you're telling
yourself, you know you've got tobe careful not to create your
what am I trying to say?
Your thoughts become yourreality.
Tom Panos (33:53):
You've got to be so
careful with your thoughts.
Again, you've nailed that I getagents that go in there
thinking to themselves.
I really hope they don't just,you know, want me to do a low
fee.
They're going to ask me a lowfee, the low fee.
You know what I better actuallyget rid of that problem.
I'll just give them a low feeand before we know it there's a
loafie on the table with.
No one was thinking about theloafie except your own narrative
(34:16):
at the time.
Tony O'Doherty (34:17):
Oh, man and I'm
an overthinker by nature.
People just have that.
But I find the best thing toovercome any of these things is
activity.
You know, stay busy and stay,but you've got to keep practice.
I never practiced, which was Iwas one of those guys that,
despite my success and my team'ssuccess, I left a lot more on
(34:39):
the table than I should have onthe way through because I never
aligned myself with a good coach, which is another thing I
recommend everybody here youneed to have in any.
This is a sport.
This is a sport.
If you see it any other way,it's because you're not serious
about it.
That's.
That's a harsh statement,that's an opinionated statement,
but I stand by it.
For me not necessarily foreveryone else on here it's
(35:01):
performance.
And if you're not, if rafanadal, who just retired, if
novak jokovic is standing withandy murray in his corner and
you're not a world number one,but you think you know it all
you better hope you're not neara world number one, because
they'll wipe the floor with you.
And the thing for me is I justwant to get better and I know
that there's people out therethat know so much more than me.
Tom Panos (35:22):
Well, listen,
Johnny's the best coach around.
You've got a great brand and,more importantly, you've created
a model that allows you now tospend your time not worrying
about those other things,because your business partner is
doing it.
Can I ask you, with all that, Imean, what are you thinking is
(35:43):
achievable in terms of, I mean,do you think 250 deals, 300
deals?
What do you think?
Tony O'Doherty (35:51):
Man, we haven't
thought that.
I haven't.
Look, we have 200 is somethingthat is comparable.
We're thinking about marketshare.
We know that we can double downour market share and we know
that we can have twice theamount of families at the school
gate singing our praise and wecan have twice the amount of
(36:13):
families at the school gateoverselling me.
So I can fuck it up Time.
John McGrath (36:22):
We've got about
sort of seven or eight minutes,
because I know we told everyonewe'd sort of go through at about
4.45.
This has been amazing and youare very kindly have agreed to
speak at ARIC next year, I think, so people can come along and
hear more about you.
But there's a lot of egos inthis business.
There are people that have notdone 20% of what you've done and
what Alex Jordan has done andthey've got massive egos and Tom
(36:46):
and I just talk about it onthis a lot.
It's quite embarrassing for ourindustry.
I mean, is there anythingwithin your makeup that's
allowed you to keep your feet onthe ground as your figures
astronomically and just lettingeveryone know we we think that
Tony is the fastest-growingagent in our country's history
in terms of hitting a billion insales.
(37:06):
So is there something in yourmake-up that you say to yourself
or you believe in, or yourfamily upbringing, or something
that has you Because you are oneof the most grounded, as is AJ
people I've ever met.
I mean, what's behind that?
Tony O'Doherty (37:22):
people I've ever
met.
I mean, what's behind that?
I think that the real highperformers, we focus on what's
left to improve upon and thatcan be taxing.
That can be difficult.
Like I'm hard on my team, myteam have stayed with me through
loyalty and love and we've goteach other's backs.
But and often it's a negative Idon't always celebrate the wins
(37:50):
.
I see the things that I coulddo better.
My score to date in comparisonto the industry, comparison to
the best in the industry, andthe time in which we've done it,
is phenomenal.
We can stand up for anybody,but it is nothing compared to
the future anybody but it isnothing compared to the future.
It is nothing compared to whatI have in, in what my capacity
and capabilities are with thepeople I have around me.
So what keeps me from fromgetting ahead of myself is I'm
(38:16):
aware of my capacity and how faraway I am from it.
So maybe one day maybe one day,john, I'll look at you and say,
fuck it, I met it.
Tom Panos (38:24):
But I'll tell you
what.
Tony O'Doherty (38:25):
I'm a long way
away.
Tom Panos (38:27):
When you go to
Ireland they must think you're
Elvis Presley.
John, I reckon part of it.
I've noticed it.
Don't say it, Tom?
Tony O'Doherty (38:39):
Don't say it,
it's not the accent man.
I'm a lot more than an accent.
Don't say it, Tom.
Don't say it, it's not theaccent man.
I'm a lot more than an accent.
Tom Panos (38:43):
No, it's not the
accent, but I look at it whether
it was at the cafe.
I always when there's a workerthat comes in, you know the ones
that wear the Irish uniform,that whole on the streets there.
The Irish people are the bestto talk to.
They make you.
You have a good laugh At chemchemo all the nurses were from
ireland for some reason.
(39:03):
They're all are and they were,and they're fun, I reckon.
I think the upbringing and andbe honest, like the income that
you're making in ireland thatputs you in mate like right in
switzerland, it puts you at thevery top of the food chain hey,
one of the things, tom, a lot ofpeople won't know about tony
(39:25):
and they won't.
John McGrath (39:26):
They'll even know
it less after this interview
because he comes across soeloquently and confidently.
But but, tone, you're quite anintrovert in a lot of ways and
you and I had that conversationand I I am as well, and a lot of
people watching it.
For them, the shy ones like us,and the introverted ones,
they've kind of potentially usedthat as an excuse.
(39:46):
Oh, I'm not one of these giftof the gap people.
You know I'm a bit shy andwhatever, and and you know, like
I said, I think you and Icertainly share that in common
time.
How have you been able toovercome that and go and do what
you've done today and whatyou're about to do, which is,
even so, whilst being somewhatof an introvert?
Just how have you been able tomanage that?
Tony O'Doherty (40:08):
I suppose the
truth of it is I do withdraw as
much as I can, but I suppose, ifyou were to, which is still
very little in comparison to howmuch we have to be out there, I
don't emerge myself in thecommunity as much as I should In
my spare time I am not going.
You know, I am a withdrawncharacter.
(40:29):
I am a withdrawn character.
I didn't know I was introvertuntil very late in the piece.
I didn't realize it.
You know, funny how Iconsidered myself to be, you
know, self-aware, amongst otherthings.
I wasn't aware at all of a keyfundamental of myself.
Um, I just think, yeah, I'mmaking work.
(40:49):
I don't know that being anextrovert is, is an advantage
over an introvert.
I don't know that because whenI walk into a room I'll pick a
corner and and I'll be in thatcorner, but the people will,
will come, and when they comeI'm probably softer and easier
and I'm not confrontational, orthat's not the other people who
(41:11):
don't, not that they don't gelwith me.
They probably see too much ofthe introvert and they don't see
the assassin.
(41:31):
You know, they need to see thatabsolute killer that's going to
nail it for them and I thinksometimes, maybe, maybe that
holds me back a little bit, thatI am a little bit introverted.
But no, no excuses.
Uh, I wouldn't change anything.
Uh, you know, and I thinkpeople at home, just get rid of
(41:52):
your excuses because you, ifyou're not careful, they'll be
right.
You can make them right, youcan make your bullshit accurate
or you can make it not a factor.
John McGrath (42:01):
T someone.
If I interviewed 100 of yourvendors and they are raving fans
, it's become legendary the waypeople feel about you after
you've finished a sale with them.
What would be three things thatyou reckon they would say If I
said Tony, what's he like, howwas it to deal with him?
Give me three words that youthink they would likely say
(42:23):
about their experience with you.
Tony O'Doherty (42:28):
Communication is
a big one.
I didn't want to use it becauseit's like something that we'd
all say, but it is a big one, itis a massive one.
We're very high on our level ofcommunication.
Voice notes would definitelycome in there, and you know like
it's a weird thing to say I runmost of my business on voice
notes.
I'm always just notifying myvendors and we chat as much as
(42:48):
we need to.
Tom Panos (42:50):
When you say voice
note, does the note get
transcribed, or you just sendthem a voice message?
I'm curious.
Tony O'Doherty (42:56):
We've got 45
minutes into this without
somebody taking a piece out ofmy accent.
This was good.
It doesn't come up with somesubtitles, as many people he
didn't say translate.
John McGrath (43:08):
He said transcribe
, it's just verbal, it's just
verbal.
You send them like a littlerecording.
They hit, play and they listento what you've said.
Tony O'Doherty (43:16):
Yeah, on
WhatsApp.
So we have all our vendors inWhatsApp meetings and it's
WhatsApp groups.
It's proven, invaluable, justthat level.
You couldn't provide the levelof communication that we do
without having a central forumand a method Communication we
care, we genuinely care, andthat comes across.
And team Team is the other one.
(43:36):
I don't know, john, if I'veanswered that right or wrong.
It's just three things thatcame to mind.
We communicate at a very highlevel.
We give a shit about theoutcome and my team mate they're
the same.
They're.
I have a team full of winners.
They're people that turn up,show up, want to serve us, want
to be there.
Good energy, good attitude yeah.
John McGrath (43:53):
I reckon I'd say
my gut feeling is passion, yes,
uh, yeah, that's a combinationof energy and giving a damn, and
I reckon that that's a energy.
You're a high energy guy.
Every time I've met you're ahigh energy guy.
Yeah and uh, as aj said, youknow you just don't bullshit
people.
There's a sincerity or a I'drather use the word genuine
(44:13):
sincerity kind of sounds a bitweird, but authentic, genuine.
What you see is what you get.
There's no kind of sugarcoating of who he is or trying
to pretend he's someone else.
You'll know who Tony is after a10-minute chat with him.
You don't need to try andfigure that out.
Tony O'Doherty (44:30):
My answer is
energy, passion and authenticity
.
That's my answer.
John McGrath (44:36):
Tell me, aj, you
touched there on WhatsApp.
Aj mentioned something abouturgent versus non-urgent
WhatsApp group chat sort ofthing.
Are you okay to share that?
Tony O'Doherty (44:46):
Yeah, so what we
did is what we find when we've
got the amount of properties forsale at any one time.
You have to be very careful howyou categorize the inbound, and
what I did for a very long timewas I managed everything.
So my phone would ring, I wouldanswer it 16 hours a day, six
and a half days a week, and whatI described earlier on in our
(45:09):
conversation was the obligationyou have to your vendor to be as
good at the negotiation tableas you are at the listing table.
Well, I guarantee you you'renot doing that if you're taking
100 calls a day.
So what I'm doing now is youspoke about energy.
It can't be created ordestroyed.
It can be transferred and moved, and if I give it to the wrong
people, I won't have it for theright people.
(45:30):
So I have urgent chats.
So when I've spent 45 minuteswith to you, with you right now,
my phone hasn't evaporated.
There has been in, there's beenwork coming in, communication
coming in, and my team isdealing with that.
When I get off this call, thefirst thing I'm going to look at
is my urgent chat.
Is there a buyer trying to buya home?
(45:52):
Is there a deal to be done?
Um, then, non-urgent.
Is there a teammate that needsassistance, that needs tlc?
Um, you is there, yeah, so wecategorize in order to
prioritize.
A word I used at the very startI can't, and I did it, and I did
it for too long.
I did everything.
I was the conduit to everything, so my team were always very
(46:16):
active and I shouldn't say I dideverything.
I was involved in everything,which is not.
I mean, you wouldn't have 140offices if you were involved in
everything, john, you'd have oneoffice and that's where you
would have been capped.
You can't do everything, or atleast you can't do everything
well.
So now I do 20% of the jobinverted commas.
(46:39):
I'm across the marketing fromthe start, the negotiation.
Just I'm running the campaigns.
I'm not running myself into theground trying to answer the
phone to the signboard guy whenthe signboard won't go into the
ground because there's a rockthere and I'm like you can't do
everything, so you have to dowhat you do very well.
Tom Panos (47:01):
What proportion?
These will be very quickbecause I'm mindful of time, but
I want to extract as as much ofthis content for our great
listeners.
What proportion of yourbusiness is auction versus
private treaty?
Tony O'Doherty (47:13):
high majority
auction.
We've sold about 130 homes thisyear.
Uh, by the end of this monthwe'll have done um 103 or four
auctions.
So you know 100 out of 130 areauctions.
The other 30, they may not becompatible for the vendors or,
in some case, properties.
So there's people that willtell you and Tom, I don't know
what your opinion is on thisthere's people that will tell
(47:33):
you that you know you canauction any property, and that's
true by definition, but not,you know, to me, 100 of those
130, we went down that road.
I'm not going to spend fourweeks persuading a vendor that
auction is the best if they havea core belief that it's not,
Because if they have a corebelief that it's not, how are
they going to believe in theresult that I got them?
(47:54):
So I'm here to navigate what'sbest for the property and the
vendor.
Tom Panos (48:03):
And 100, that was
auctioned, and in the vendor
servicing this conversation andthese voice memos that you're
sending on WhatsApp, are you theonly person that talks to the
vendor in terms of vendormanagement, or are there other
people in your team that arealso talking to them?
Tony O'Doherty (48:21):
So vendor
servicing the whole way through.
My team is involved, so there'dbe the co-agent and the admin
support and they're just.
You know, knowledge is power.
We say to our busier clientsturn off the notifications.
You know, we don't want tobother you all day, we just want
you to know that everything isdone.
So if I need you, I'll ring youand answer the call if you can.
(48:41):
But other than that, we'reabout touch points.
The more you can give them, themore confident they are that
you're doing what you're doing.
Tom Panos (48:49):
Who does Tony on a
first week of a good property,
how many groups come through andopen for inspection?
Tony O'Doherty (48:56):
We don't get the
flash numbers that are the gate
, like if we have a greatcampaign now, you'd have 50
buyers in the campaign.
Tom Panos (49:04):
You'd have 17 or 18
at the first open home.
Who calls those buyers thatcome through the opens?
Tony O'Doherty (49:09):
So they're
categorized.
You'll find that buyers willtell you who they are.
I'm a neighbor, oh, I'm justhaving a sticky beak, oh, this
is above my budget and the wayout.
So my team calls the I wasgoing to use an insensitive word
the buyers that are not ofvalue to the vendors, which, in
my experience, is 80% of thebuyers.
(49:29):
My team communicates with themand tries to move them along to
a property that is compatible tothem, their budget and their
needs, and my job is to dealwith the consumers.
Tom Panos (49:41):
Right.
So a bit of a triage service,like a doctor and a nurse.
They're trying to work outwho's a high priority person.
We know that they're here,right yeah.
Tony O'Doherty (49:52):
Again.
I used to do all the buyercallbacks and let's say we've
got 20 people through an openhome.
On average, statisticallyspeaking, four of them will be
willing, capable, motivated forthat property and by the time
you've started speaking to the16th person to get to the 28th,
the best version of you is notdealing with that person.
(50:13):
So we try to make sure that wegive everybody a great
experience and the person thatcan't afford the property that
we're selling, they stilldeserve our time and our energy
and they still deserve ourexpertise and the team does that
exceptionally well.
Tom Panos (50:32):
Your reserve is set
on the day or before the day.
Tony O'Doherty (50:36):
He's trying to
get as much out as possible here
.
John, let's go.
Tommy boy, it depends, oftencloser than you'd probably
recommend to your people.
I don't focus too much onreserve and often I tell my
vendors feel free to increasethe reserve.
My reserve is often informed ordictated by the amount of
bidders that we have.
If I have a good auction, 10registered bidders, I need to
(50:59):
make sure that reserve is notgoing to cause my vendors an
opportunity to miss out onmomentum.
If I've got one bidder, twobidders and it's going to be a
heavy grind, put the reserve upwherever you like.
We can discuss it on the waythrough.
So again, trust is built alongthe way.
When you have a high level oftrust, your reserve, it sets
(51:21):
itself.
Tom Panos (51:22):
Well, john, I reckon
we've got to get Tony on again.
I know today's a big daybecause you've had your brand
changed and that, by the way,everyone that is purely
coincidental, because this hadbeen put in.
I only found out this morningwhen you told me, john, that
today, because I was trying towork out how we introduced Tony,
john, I'd love to get Tony on.
(51:44):
I'd love to get you alsointerview you a couple of more
times, because I've interviewedyou in the gym in person but not
on video, and I would love toget you.
All the hearts are coming.
A lot of people have reallyappreciated the time that you've
given us this afternoon.
John McGrath (52:04):
John.
Yeah, I'm very thankful, and Ijust think about next year's
ARAC, tom, you know and we'vehad guys like Ryan Serhant and
Tom Ferry, and I think about itand to have people like Alex
Jordan, matt Steinway, tonyO'Doherty in our country is
incredible, and our best agentsare the best in the world not
(52:24):
just the best here and I saythat sincerely and hopefully not
parochially.
I believe it um time.
We're so excited to be joiningforces.
Uh, thank you for joining us.
Before we go, though, tommy, Iwant to shout out firstly to
your gym members thanks for alljoining.
Um, and it's a pleasure I getto sometimes come in and do a
little sort of guestpresentation.
I hope that will continue nextyear, in 2025.
(52:47):
Shout out because I know, tommy, you are right now in the
finalisation of your 2025 intake.
It's about $2 a day.
It's interesting.
I was thinking about this before.
If you went to Tony, afinancial advisor, and you said,
hey, you know, I don't want torisk the farm, but I want
something that's going to giveme a pretty decent return, can
(53:08):
you give me a sense of what that?
Boy?
You give me some shares in thestock market or property or
whatever, and what sort of yieldcould I get, and a really good,
one might say.
I reckon I can get you 12percent right.
Something like that double diddo pretty good.
I look at your gym membership,tony, and sorry, tom, and Tony
said earlier it's all aboutaccountability and if you don't
have a coach you're crazy.
And you know he said thatspontaneously not to back up
(53:31):
what I'm saying.
But $700 invested sensibly withan agent that's actually
prepared to put into practicewhat they learned from the gym,
could turn into a $700investment, could easily turn
into a $300,000, $400,000 yieldwith a high degree of certainty.
You know, we just know that.
You know Tony's team is nowdoing sort of, and so is Alex
(53:53):
Jordan's nearly a million amonth thereabouts.
So you know it's not a stretchto say someone that's doing
$200,000 a year goes to the gym,picks up, they listen to a Tony
O'Doherty, they hear a MattSteinway, you know all these
great people and that $700investment could make them
$200,000 or $300,000 withoutdoubt.
So I'm a great fan of yours,tom, and your gyms.
(54:15):
I know a lot of the McGrathpeople do it as well.
As they do stuff with us, theydo it with you do stuff with us,
they, they do it with you.
Tom Panos (54:27):
Um, tell me when?
How do people jump in?
Just put something in the chatgroup train so, susan, so it uh,
train for free to the end of2024.
I think we copied that offanytime fitness, because they've
got that at the moment.
Um, uh, train, train, train,train, uh in the gym to the end
of 2024 for free.
And not only only that, johnny,we've put a lot of trouble at
getting people's prospecting,marketing, sales framework plans
(54:50):
drawn up.
So our model listen, I'm reallyproud of it because it's now 10
years, it's not something thatit's a guinea pig, it's a decade
and we've learnt and we've gotbetter to try and deliver
content and I know most of it ison video.
But we do prospecting sessions.
(55:11):
We meet up face-to-face atcertain times.
So they just go torealestategymcomau.
Susan's opened it up and youwill train for free till
Christmas.
Train for free till Christmas.
And I, johnny, I've got to tellyou, matty Steinway, alex
Jordan yourself, scoreincredibly.
Over the years You've been thebiggest contributor to the gym.
(55:34):
My gym members love you.
They're going to love Tony,because you think the same way.
We're about no commissionbreath.
Build a brand and let them cometo you.
But until that happens you'regoing to have to work hard and
understand and accept that thereis no one way.
It's taken me a long time.
I always thought to myselfyou've got to get that
(55:55):
McDonald's system.
I don't think there's a one way.
I think what happens is youwork to your strengths.
Now you're listening to a guywho's working to his strengths
and that's why I think that he'sa happy person, because he's
happy, he does good work, theclients are happy, he looks
after his staff, his staff lookafter clients and all of a
sudden it ends up being greatnumbers and that's all it is.
(56:18):
But some people's model is somepeople will do the same number
of sales without an auctionsystem, or some people will do
it in a total social media wayand some people will do it in a
total print way.
I know that you're not a printperson, alex Tony, because I
know that when you came to thebuilding that day you said to me
it feels a bit awkward here I'mcoming into the News Corp
(56:40):
building right, or NewsQueensland, but it's been an
absolute pleasure having youhere.
Congratulations to you bothactually both on your
relationship and stay wellLooking forward to if I don't
see you before Christmas.
Are you going back to Irelandat all anytime soon?
Tony O'Doherty (57:01):
I may or may not
be surprising some people at
home.
Hopefully they don't see this,but who knows?
Oh wow, Travel safe.
John McGrath (57:12):
Hey, Tone, I'll
speak to you tomorrow.
Tom, Congratulations RealEstate Gym.
Jump into it for 2025.
If you're only going to invest$1,500 in training next year, go
to AR Eric and join the realestate gym and that'll take you
a long way.
Okay, everyone, See you, Tommy.
Tony O'Doherty (57:28):
Thank you guys.
Thank you to everybody fortuning in.
Thank you for having me See youguys.