January 23, 2019 • 22 mins
What trends will gain significant marketshare in 2019? Who will attempt to disrupt our industry? What tool should agents add to their marketing strategy? In the first episode of 2019, Reynolds share's his predictions for the industry.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I was an 18 and some statistics and kind of trends
and there's some, not a lot ofthings scare me, but I will say
technology is getting reallyinteresting in the real estate
market and so I always start offwith a few quotes because the
(00:20):
future can seem kind of scary attimes, but always remember that
the future comes one day at atime and that I think it has
something to do with tomorrowthat there always is one and
that everything can change whenit comes.
Our industry seems like it waschanging every couple of months.
(00:42):
Now it's changing like everymonth now, every week someone's
got something new out there.
You get a call from a vendor,they want you to try this
platform.
Um, and then it had an address.
The future of vision is aclearly articulated results or
in a picture of the future youintend to create.
(01:03):
It's a dream with direction.
So that always makes me kind ofremember that it's a lot less to
worry about in the future if youhave a plan on what it is you
want to do otherwise, thenthere's gonna be stuff flying at
you all the time and it's a.
well, let's just get into itbecause we're going to talk
(01:24):
about that.
Um, the real estate, oraclecould not be with us here today.
He may appear from a live videocast later, but you remember we
hired the real estate oraclebecause his job is to see the
future before it becomesobvious.
So I collaborate with him on alot of the presentation today.
(01:46):
This has been happening forawhile.
The gap in services, a realestate companies are either a
walmart or they are a nordstrom.
Oh, zero service, low Fi, youknow, I'll list your house for
$250, put on the mls and you getall the calls versus we have a
(02:08):
relocation department that willnegotiate your fees, help your
clients relocate around thecountry.
Full service brokerage firm.
This has always been the norm.
What has not been is thedownward pressure on our
industry, folks wanting to doour job for less money because
of the billions of dollars incommissions that are available.
(02:31):
So this year the gap is going toget a little water, you know,
and why is that?
Well, in 2018, that's when the Ibuyer market kind of became
active as we talked about.
Remember zillow offers.
Speaker 2 (02:49):
No,
Speaker 1 (02:50):
they're not.
That has nothing to do with thereal estate agent.
No one is helping them viewproperty or show property, but
y'all are in a good positionbecause especially in markets
like ours, people still want towork with a human being.
They want to speak with someone.
They want to meet with someone,they want to talk with someone
and that's another reason whywe're really excited about our
(03:15):
new website is because when avisitor online clicks on a
company's website and thensomeone from that company
context them immediately,there's a higher level of trust
there because they're wanting tospeak with someone.
So remember, just so you're notconfused, we're not Walmart
(03:36):
bickerstaff parm.
Nordstrom.
We're full service.
We go above and beyond and dothings for our clients that they
couldn't dream of having donefor them.
Direct mail, direct mail hasbeen pushed to the side, um, for
(03:57):
probably the last year or twobecause why we've been in a
really good market and when weget into a good market and get
busy, uh, agents stopped doingsome of the basic things that
they should be doing and eventhe car dealers do that too,
right?
I haven't received a six byeight power postcard from a car
(04:20):
dealer a, and I don't know howlong, but direct mail is still
incredibly powerful if it's usedcorrectly.
And, um, a lot of the other realestate news industries are
reporting on that is becauseit's still still affordable.
It's very inexpensive.
(04:41):
And when no one is, has apresence there, an agent's
presence seems to be that muchmore powerful.
So I'm not just my postcards butjust notes, letters, uh, I think
people will go back to look at2015 16 and the things they did
(05:03):
then we'll probably be a stillvery relevant here because as
markets start to slow down, andI hate to say the word slow
down, but when we stoppedselling houses in a week and it
takes a month or two, that isstill great.
But we always tend to evaluateour marketing budget and what we
(05:24):
spend our money on to drivetraffic to those homes.
Cyber fraud is gettingridiculous.
Who received the text messagefor me asking to buy some cards,
right?
I mean they are now texting youand they'd been emailing us for
awhile.
(05:45):
Um, they're going to thentexture clients.
I get how many.
I have at least five or sixcalls a day starting the
beginning of the year from somehealth care company or you know,
the car warranty company andthey've now moved on to being
able to get you to sendsomething through a text
(06:08):
through.
I mean it's just a link.
So you've got to warn yourclients about a potentially
fraudulent activities that mayoccur once a transaction starts
because they are there watchingwhat we're doing.
And one way to protect yourselfis to get one of these security
keys.
And I don't know if y'all haveseen these, this is Google's,
(06:30):
it's called Titan.
Speaker 2 (06:32):
And
Speaker 1 (06:35):
is this a little.
It goes into a USB drives justlittle key.
So if you register this to yourcomputer, you can't use your
email unless this is pluggedinto your computer.
So if you lose this, you can'tuse your email, but also mean
someone can't hack your accountin Texas and start logging into
(06:56):
your email account.
So also this is called atightened security case.
Just the one google makes italso has a little bluetooth.
I'm car greater.
So if you're.
You can't plug a usb into yourphone, but this, if this is all,
and then you can use your emailon your phone.
(07:19):
This has been sitting on my deskfor about a month or so.
I haven't used it yet, but asreal estate professionals, I
think it's important to assesshow you're protecting your
information and your clients.
You consider changing yourpasswords.
Let security keys I think willprobably be the norm where
(07:41):
you've got sensitive informationfrom your clients coming across
and people are watching that andit's not from something you've
done, but it's from somethingthat another agent did where
they don't use a mail serviceand they send out a group
message to 400 people by justpasting all the addresses in the
address bar, know somebody.
(08:02):
Does that sit on message andsay, please remove my name from
this list because that's howpeople get hacked.
The mailchimps and eye contactand other ones, there's.
They're more secure than email,but it's all those group
messages and so if your namesincluded in one, you need to
make sure you have some way toprotect your email so that
(08:24):
someone doesn't start hackingit.
This is really cool.
Has Mia use Alexa flashbriefing?
Who Has Alexa?
Okay.
Companies create flash briefingswhere you can sit.
You have to.
It's like an app you download toyour Alexa and if the flash
(08:46):
briefing was from ESPN, you'dsay, Hey Alexa, what was the
score of the superbowl lastnight?
Patriot, you know, the rams beatthe chief's by two touchdowns or
whatever.
These are prerecorded messagesthat people upload to an APP.
(09:07):
So if I've downloaded thebickerstaff parm, Alexa App, and
let's say it was the open houseapp, so like Alexa, what open
houses are available thisweekend to Raymond Strickland
has a house on one, two, threeBroadway and vibe of allison has
one on Saturday.
It would play that message.
It's me, I recorded a message,but people download this because
(09:33):
what they are now getting tiredof scrolling through things when
it's available.
So if I downloaded the, um, Ithink apple has one, but if I
downloaded the Bloomberg's stockbriefing, say, Hey, blue Alexa,
(09:57):
give me Bloomberg's tip for theday.
And Bloomberg has uploaded a tipeach day and it will play that
tip for you.
So it's just a news brief and dosome research.
Agents are using this in housesto promote their house.
Um, there's a service that willallow you to place multiple
(10:17):
Alexis around a model home or avacant home and it's really
weird.
They'll print out the commands.
So you, you're in the diamondroom and say, Hey Alexa, what
did the owners remodel here?
And you would have recorded themess will say, well, this was
previously a ranch home witheight foot ceilings and the
(10:39):
owner's vaulted the ceilings andinstalled the bay window.
So agents are going to be usingAlexa to help sell their homes
because if each of you could bein your listing every time
someone showed it, you'dprobably sell it, but there's
another agent there that may nothave read your beautiful
description or watch your videoor picked up the flier you left
(11:02):
on the counter.
Or even remember the text yousent Ben to say, Hey, don't
forget to show them the baywindow in the kitchen and family
room.
Flash briefings are justprerecorded messages.
Does that mix?
I don't know if I explained thatcorrectly, but everyone is tired
(11:25):
of typing in a search.
You can do that on Google now.
You can do it on your appledevice.
I mean, y'all use Siri, useAlexa.
It's the same thing.
Um, and it's just interestingthat they say in the next two
years, um, voice commandssearches one, they're already
(11:48):
become more labile, but by 20,21 voice command searches could
equal the number of tightkeyword searches.
So now the number of peoplegoing in and you're on your
phone, um, you know, apple storein Atlanta and it pulls up the
directions.
Well, you don't even do thatnow, right?
(12:09):
You just press your phone andsay, where's the apple store in
Atlanta?
And it pulls up searches, right?
Voice Command searching is goingto become, it's already starting
to become the norm with kids.
Kids just go and talk to stuff.
Hey, coke come out of themachine, a car, I want a coke.
Like, no, you got to put anymoney and press the button.
(12:31):
You can't just voice command inthe vending machine.
But that's how they're learningstuff.
I think you just talked to amachine and it does something.
And so we've got to catch up tothat.
And um, I don't know if that'sgoing to be a big trend in real
estate, but it started to happenand people are exploring with
it.
(12:51):
Zoom.
I heard of the Henry's, this ishilarious, but it's serious.
But even like the guests, whatHenry's stand for, what's that?
Pretty much high earning.
Not rich yet.
Mainly millennials.
(13:13):
And this is serious.
They've just released this.
I didn't know you.
We've talked about the differentdemographics, not demographics,
the different generations.
Well now we're starting to breakdown the millennials.
By the time we're done, they'regoing to have like seven
different subsets of their wholejob.
No, I'm not.
I'm a henry millennial or youknow, I'm a jerry millennial
(13:35):
just trying to get by mean ifwe're going to make up all kinds
of stuff to describe onegeneration, but it's people,
millennials earning$100,000 ormore a year in household income
and they still, that's a lot ofmoney to earn.
So they're earning good moneybut they're not rich yet because
(13:56):
they don't have anything to showfor it.
They don't have cash to put downon the house.
They're still borrowing money,but what's interesting about the
Henry's is how they value luxurygoods and it's not by price,
they value luxury goods by firstquality and then excellent
(14:18):
reputation or recommendation.
So if jen, if I asked Jen, Ineed to get a new car, um, you
know, what's the best car tobuy?
And Jen says best car buys aSubaru outback and that's not
(14:38):
the most expensive car.
But what is a Subaru, jen?
It is, it's reliable.
It's dependable.
Um, I've never seen one on theside of the road abandoned
except like out west because ifI had 300,000 miles on it.
So I mean it does what it'ssupposed to and it's a quality
vehicle.
It's not the most expensive.
(15:00):
So the Henry's and y'all mayhave already met some, you just
didn't know they were at Henry'sand don't call them.
He's like, oh my gosh, you're ahenry.
Don't let them know because theyprobably don't know either.
But it's interesting because themillennials are now 35 percent
of the home buying market.
(15:21):
They have grown up y'all.
They are now 30.
The oldest millennials are intheir mid to late thirties.
When you think about it, it'sthat they're here and kind of
wrap this up about the future.
The enemy of mastery is notmediocrity.
(15:42):
It is distractions.
The addiction to distraction isruining many potentially awesome
lives.
Two thousand 18.
We had a lot of distractions andthey're still going to be more
in 2019.
And that's Kinda what makes thefuture scary sometimes as if you
(16:04):
don't know what you want toaccomplish.
There are plenty of things todistract you along the way to
prevent you from accomplishingany of them.
So I want to challenge you allto be thinking about some of the
things we discussed today, butalso stick to your plan, the
business plan that you've laidout for 19.
Those are great plants.
Follow those plans.
(16:25):
Be aware of what's coming downthe road and maybe how to adapt
that to your plan a.
study it more.
Maybe it doesn't require yourimplementation yet, but just be
aware of that because realestate is still very slow to
change because it's a peoplebusiness and requires us to
(16:47):
change.
But more and more companies outthere trying to disrupt
everything that it is we do,they're trying to get into our
pocket.
Zillow is trying to sell homesmean they, they truly are.
And other companies are gettinginto that same space just
(17:08):
because they feel they have to.
One of the largest franchises isgetting into I buying where
they're buying propertiesbecause they feel they have to.
So
Speaker 2 (17:22):
just no, we go back.
Speaker 1 (17:28):
This is the biggest thing to focus on being full
service.
People want an experience, theywant to work with someone that
can carry them all the waythrough and if you keep doing
that, you're going to have asolid place in the future for as
long as you're in the business.
Because in our opinion, this isalways going to hold value.
(17:49):
It's going to be a long timebefore you can just walk in a
place by house, talk to amachine, get alone.
I mean that's probably wherepeople eventually want it to go
with blockchain and all thisother technology.
But I mean I haven't seen asingle home does exactly the
same yet and they're not.
(18:13):
There's always going to besomething different, something
to get hooked up.
This floor plan is similar, butnot exactly the same.
You've still got to have peopleinvolved in the process to make
sure that it's handled properly,so we're not concerned about the
future.
The oracle is not concernedabout the future.
(18:35):
Don't want you all to beconcerned about the future.
Just wants you to be preparedfor the future and what's coming
down the line for us becauseit's going to be exciting.
It's going to be a good year.
It's gonna be a lot of fun andif it doesn't seem like it's as
busier as successful as lastyear, it's just because things
(18:56):
slow down a little bit, butwe've been going at such a fast
pace.
Things kind of need to get slowdown some, but it's still going
to be a great market in Columbusand Phoenix city.
It is.
We don't see a whole lot ofchange here.
Um, but if you've got concernsabout the future or how you're
going to prepare for it, let usknow.
(19:17):
We'll send these slides out to.
But we're very optimistic aboutthe future.
Could bring some really coolstuff.
Um, I'll share this with you.
Uh, say say had her 20th yearhigh school reunion on Saturday
during the middle of the heavensfalling out.
(19:39):
And so a couple years, um,there.
And Gosh, I'm have just cut offmy meeting.
Um, we were there and one oftheir best friends from
Nashville didn't drive downbecause of the weather band was
just going straight up there.
(19:59):
And what's the, what's thedevice?
Facebook has to put it in yourhouse.
The video chat.
Somebody remember the name ofthat, you know what I'm talking
about.
You'll have seen facebook'svideo chat.
Gosh.
Well it's like a, it's a videostreaming camera you put in your
(20:23):
house to facebook live with yourguests.
So I said, why don't we just getfacebook live and we can put
emily over in the corner andy'all can just take turns going
to talk to her like.
So.
No it does with them.
I can't believe you will haveseen it.
Um, I'll pull it up for you.
(20:46):
But it technology is allowing usto be in more places than one,
and so how is going to sometechnology to help us be there
with our clients have done livevideo recording for them.
When you're you and properties,and I don't know if any of you
skype or video facetime withthem while you're reviewing
(21:10):
something.
The technology is just helpingyou communicate with them.
It's not replacing what you sayor do with them is just allowing
you to not have to physically bethere face to face with them,
which is why there's alwaysgoing to be a place for us, but
(21:33):
you got to watch these peoplethere to using the technology.
We can learn a lot from them andhow to use the technology to
further widen the gap and showwhy it's so much better to deal
with us.
Speaker 2 (21:47):
Does that make sense?
Speaker 1 (21:49):
We're not trying to be Walmart and get their
technology, but how can we learnfrom some of the things they do
Speaker 2 (21:54):
to better solidify our position is as full service
experts.
Speaker 1 (21:59):
Thank you all for being here today and stick
around for the lunch and learn.
It's gonna be a fun one.
Speaker 2 (22:05):
Thank you.
I was an 18 and some statistics and kind of trends
and there's some, not a lot ofthings scare me, but I will say
technology is getting reallyinteresting in the real estate
market and so I always start offwith a few quotes because the
(00:20):
future can seem kind of scary attimes, but always remember that
the future comes one day at atime and that I think it has
something to do with tomorrowthat there always is one and
that everything can change whenit comes.
Our industry seems like it waschanging every couple of months.
(00:42):
Now it's changing like everymonth now, every week someone's
got something new out there.
You get a call from a vendor,they want you to try this
platform.
Um, and then it had an address.
The future of vision is aclearly articulated results or
in a picture of the future youintend to create.
(01:03):
It's a dream with direction.
So that always makes me kind ofremember that it's a lot less to
worry about in the future if youhave a plan on what it is you
want to do otherwise, thenthere's gonna be stuff flying at
you all the time and it's a.
well, let's just get into itbecause we're going to talk
(01:24):
about that.
Um, the real estate, oraclecould not be with us here today.
He may appear from a live videocast later, but you remember we
hired the real estate oraclebecause his job is to see the
future before it becomesobvious.
So I collaborate with him on alot of the presentation today.
(01:46):
This has been happening forawhile.
The gap in services, a realestate companies are either a
walmart or they are a nordstrom.
Oh, zero service, low Fi, youknow, I'll list your house for
$250, put on the mls and you getall the calls versus we have a
(02:08):
relocation department that willnegotiate your fees, help your
clients relocate around thecountry.
Full service brokerage firm.
This has always been the norm.
What has not been is thedownward pressure on our
industry, folks wanting to doour job for less money because
of the billions of dollars incommissions that are available.
(02:31):
So this year the gap is going toget a little water, you know,
and why is that?
Well, in 2018, that's when the Ibuyer market kind of became
active as we talked about.
Remember zillow offers.
Speaker 2 (02:49):
No,
Speaker 1 (02:50):
they're not.
That has nothing to do with thereal estate agent.
No one is helping them viewproperty or show property, but
y'all are in a good positionbecause especially in markets
like ours, people still want towork with a human being.
They want to speak with someone.
They want to meet with someone,they want to talk with someone
and that's another reason whywe're really excited about our
(03:15):
new website is because when avisitor online clicks on a
company's website and thensomeone from that company
context them immediately,there's a higher level of trust
there because they're wanting tospeak with someone.
So remember, just so you're notconfused, we're not Walmart
(03:36):
bickerstaff parm.
Nordstrom.
We're full service.
We go above and beyond and dothings for our clients that they
couldn't dream of having donefor them.
Direct mail, direct mail hasbeen pushed to the side, um, for
(03:57):
probably the last year or twobecause why we've been in a
really good market and when weget into a good market and get
busy, uh, agents stopped doingsome of the basic things that
they should be doing and eventhe car dealers do that too,
right?
I haven't received a six byeight power postcard from a car
(04:20):
dealer a, and I don't know howlong, but direct mail is still
incredibly powerful if it's usedcorrectly.
And, um, a lot of the other realestate news industries are
reporting on that is becauseit's still still affordable.
It's very inexpensive.
(04:41):
And when no one is, has apresence there, an agent's
presence seems to be that muchmore powerful.
So I'm not just my postcards butjust notes, letters, uh, I think
people will go back to look at2015 16 and the things they did
(05:03):
then we'll probably be a stillvery relevant here because as
markets start to slow down, andI hate to say the word slow
down, but when we stoppedselling houses in a week and it
takes a month or two, that isstill great.
But we always tend to evaluateour marketing budget and what we
(05:24):
spend our money on to drivetraffic to those homes.
Cyber fraud is gettingridiculous.
Who received the text messagefor me asking to buy some cards,
right?
I mean they are now texting youand they'd been emailing us for
awhile.
(05:45):
Um, they're going to thentexture clients.
I get how many.
I have at least five or sixcalls a day starting the
beginning of the year from somehealth care company or you know,
the car warranty company andthey've now moved on to being
able to get you to sendsomething through a text
(06:08):
through.
I mean it's just a link.
So you've got to warn yourclients about a potentially
fraudulent activities that mayoccur once a transaction starts
because they are there watchingwhat we're doing.
And one way to protect yourselfis to get one of these security
keys.
And I don't know if y'all haveseen these, this is Google's,
(06:30):
it's called Titan.
Speaker 2 (06:32):
And
Speaker 1 (06:35):
is this a little.
It goes into a USB drives justlittle key.
So if you register this to yourcomputer, you can't use your
email unless this is pluggedinto your computer.
So if you lose this, you can'tuse your email, but also mean
someone can't hack your accountin Texas and start logging into
(06:56):
your email account.
So also this is called atightened security case.
Just the one google makes italso has a little bluetooth.
I'm car greater.
So if you're.
You can't plug a usb into yourphone, but this, if this is all,
and then you can use your emailon your phone.
(07:19):
This has been sitting on my deskfor about a month or so.
I haven't used it yet, but asreal estate professionals, I
think it's important to assesshow you're protecting your
information and your clients.
You consider changing yourpasswords.
Let security keys I think willprobably be the norm where
(07:41):
you've got sensitive informationfrom your clients coming across
and people are watching that andit's not from something you've
done, but it's from somethingthat another agent did where
they don't use a mail serviceand they send out a group
message to 400 people by justpasting all the addresses in the
address bar, know somebody.
(08:02):
Does that sit on message andsay, please remove my name from
this list because that's howpeople get hacked.
The mailchimps and eye contactand other ones, there's.
They're more secure than email,but it's all those group
messages and so if your namesincluded in one, you need to
make sure you have some way toprotect your email so that
(08:24):
someone doesn't start hackingit.
This is really cool.
Has Mia use Alexa flashbriefing?
Who Has Alexa?
Okay.
Companies create flash briefingswhere you can sit.
You have to.
It's like an app you download toyour Alexa and if the flash
(08:46):
briefing was from ESPN, you'dsay, Hey Alexa, what was the
score of the superbowl lastnight?
Patriot, you know, the rams beatthe chief's by two touchdowns or
whatever.
These are prerecorded messagesthat people upload to an APP.
(09:07):
So if I've downloaded thebickerstaff parm, Alexa App, and
let's say it was the open houseapp, so like Alexa, what open
houses are available thisweekend to Raymond Strickland
has a house on one, two, threeBroadway and vibe of allison has
one on Saturday.
It would play that message.
It's me, I recorded a message,but people download this because
(09:33):
what they are now getting tiredof scrolling through things when
it's available.
So if I downloaded the, um, Ithink apple has one, but if I
downloaded the Bloomberg's stockbriefing, say, Hey, blue Alexa,
(09:57):
give me Bloomberg's tip for theday.
And Bloomberg has uploaded a tipeach day and it will play that
tip for you.
So it's just a news brief and dosome research.
Agents are using this in housesto promote their house.
Um, there's a service that willallow you to place multiple
(10:17):
Alexis around a model home or avacant home and it's really
weird.
They'll print out the commands.
So you, you're in the diamondroom and say, Hey Alexa, what
did the owners remodel here?
And you would have recorded themess will say, well, this was
previously a ranch home witheight foot ceilings and the
(10:39):
owner's vaulted the ceilings andinstalled the bay window.
So agents are going to be usingAlexa to help sell their homes
because if each of you could bein your listing every time
someone showed it, you'dprobably sell it, but there's
another agent there that may nothave read your beautiful
description or watch your videoor picked up the flier you left
(11:02):
on the counter.
Or even remember the text yousent Ben to say, Hey, don't
forget to show them the baywindow in the kitchen and family
room.
Flash briefings are justprerecorded messages.
Does that mix?
I don't know if I explained thatcorrectly, but everyone is tired
(11:25):
of typing in a search.
You can do that on Google now.
You can do it on your appledevice.
I mean, y'all use Siri, useAlexa.
It's the same thing.
Um, and it's just interestingthat they say in the next two
years, um, voice commandssearches one, they're already
(11:48):
become more labile, but by 20,21 voice command searches could
equal the number of tightkeyword searches.
So now the number of peoplegoing in and you're on your
phone, um, you know, apple storein Atlanta and it pulls up the
directions.
Well, you don't even do thatnow, right?
(12:09):
You just press your phone andsay, where's the apple store in
Atlanta?
And it pulls up searches, right?
Voice Command searching is goingto become, it's already starting
to become the norm with kids.
Kids just go and talk to stuff.
Hey, coke come out of themachine, a car, I want a coke.
Like, no, you got to put anymoney and press the button.
(12:31):
You can't just voice command inthe vending machine.
But that's how they're learningstuff.
I think you just talked to amachine and it does something.
And so we've got to catch up tothat.
And um, I don't know if that'sgoing to be a big trend in real
estate, but it started to happenand people are exploring with
it.
(12:51):
Zoom.
I heard of the Henry's, this ishilarious, but it's serious.
But even like the guests, whatHenry's stand for, what's that?
Pretty much high earning.
Not rich yet.
Mainly millennials.
(13:13):
And this is serious.
They've just released this.
I didn't know you.
We've talked about the differentdemographics, not demographics,
the different generations.
Well now we're starting to breakdown the millennials.
By the time we're done, they'regoing to have like seven
different subsets of their wholejob.
No, I'm not.
I'm a henry millennial or youknow, I'm a jerry millennial
(13:35):
just trying to get by mean ifwe're going to make up all kinds
of stuff to describe onegeneration, but it's people,
millennials earning$100,000 ormore a year in household income
and they still, that's a lot ofmoney to earn.
So they're earning good moneybut they're not rich yet because
(13:56):
they don't have anything to showfor it.
They don't have cash to put downon the house.
They're still borrowing money,but what's interesting about the
Henry's is how they value luxurygoods and it's not by price,
they value luxury goods by firstquality and then excellent
(14:18):
reputation or recommendation.
So if jen, if I asked Jen, Ineed to get a new car, um, you
know, what's the best car tobuy?
And Jen says best car buys aSubaru outback and that's not
(14:38):
the most expensive car.
But what is a Subaru, jen?
It is, it's reliable.
It's dependable.
Um, I've never seen one on theside of the road abandoned
except like out west because ifI had 300,000 miles on it.
So I mean it does what it'ssupposed to and it's a quality
vehicle.
It's not the most expensive.
(15:00):
So the Henry's and y'all mayhave already met some, you just
didn't know they were at Henry'sand don't call them.
He's like, oh my gosh, you're ahenry.
Don't let them know because theyprobably don't know either.
But it's interesting because themillennials are now 35 percent
of the home buying market.
(15:21):
They have grown up y'all.
They are now 30.
The oldest millennials are intheir mid to late thirties.
When you think about it, it'sthat they're here and kind of
wrap this up about the future.
The enemy of mastery is notmediocrity.
(15:42):
It is distractions.
The addiction to distraction isruining many potentially awesome
lives.
Two thousand 18.
We had a lot of distractions andthey're still going to be more
in 2019.
And that's Kinda what makes thefuture scary sometimes as if you
(16:04):
don't know what you want toaccomplish.
There are plenty of things todistract you along the way to
prevent you from accomplishingany of them.
So I want to challenge you allto be thinking about some of the
things we discussed today, butalso stick to your plan, the
business plan that you've laidout for 19.
Those are great plants.
Follow those plans.
(16:25):
Be aware of what's coming downthe road and maybe how to adapt
that to your plan a.
study it more.
Maybe it doesn't require yourimplementation yet, but just be
aware of that because realestate is still very slow to
change because it's a peoplebusiness and requires us to
(16:47):
change.
But more and more companies outthere trying to disrupt
everything that it is we do,they're trying to get into our
pocket.
Zillow is trying to sell homesmean they, they truly are.
And other companies are gettinginto that same space just
(17:08):
because they feel they have to.
One of the largest franchises isgetting into I buying where
they're buying propertiesbecause they feel they have to.
So
Speaker 2 (17:22):
just no, we go back.
Speaker 1 (17:28):
This is the biggest thing to focus on being full
service.
People want an experience, theywant to work with someone that
can carry them all the waythrough and if you keep doing
that, you're going to have asolid place in the future for as
long as you're in the business.
Because in our opinion, this isalways going to hold value.
(17:49):
It's going to be a long timebefore you can just walk in a
place by house, talk to amachine, get alone.
I mean that's probably wherepeople eventually want it to go
with blockchain and all thisother technology.
But I mean I haven't seen asingle home does exactly the
same yet and they're not.
(18:13):
There's always going to besomething different, something
to get hooked up.
This floor plan is similar, butnot exactly the same.
You've still got to have peopleinvolved in the process to make
sure that it's handled properly,so we're not concerned about the
future.
The oracle is not concernedabout the future.
(18:35):
Don't want you all to beconcerned about the future.
Just wants you to be preparedfor the future and what's coming
down the line for us becauseit's going to be exciting.
It's going to be a good year.
It's gonna be a lot of fun andif it doesn't seem like it's as
busier as successful as lastyear, it's just because things
(18:56):
slow down a little bit, butwe've been going at such a fast
pace.
Things kind of need to get slowdown some, but it's still going
to be a great market in Columbusand Phoenix city.
It is.
We don't see a whole lot ofchange here.
Um, but if you've got concernsabout the future or how you're
going to prepare for it, let usknow.
(19:17):
We'll send these slides out to.
But we're very optimistic aboutthe future.
Could bring some really coolstuff.
Um, I'll share this with you.
Uh, say say had her 20th yearhigh school reunion on Saturday
during the middle of the heavensfalling out.
(19:39):
And so a couple years, um,there.
And Gosh, I'm have just cut offmy meeting.
Um, we were there and one oftheir best friends from
Nashville didn't drive downbecause of the weather band was
just going straight up there.
(19:59):
And what's the, what's thedevice?
Facebook has to put it in yourhouse.
The video chat.
Somebody remember the name ofthat, you know what I'm talking
about.
You'll have seen facebook'svideo chat.
Gosh.
Well it's like a, it's a videostreaming camera you put in your
(20:23):
house to facebook live with yourguests.
So I said, why don't we just getfacebook live and we can put
emily over in the corner andy'all can just take turns going
to talk to her like.
So.
No it does with them.
I can't believe you will haveseen it.
Um, I'll pull it up for you.
(20:46):
But it technology is allowing usto be in more places than one,
and so how is going to sometechnology to help us be there
with our clients have done livevideo recording for them.
When you're you and properties,and I don't know if any of you
skype or video facetime withthem while you're reviewing
(21:10):
something.
The technology is just helpingyou communicate with them.
It's not replacing what you sayor do with them is just allowing
you to not have to physically bethere face to face with them,
which is why there's alwaysgoing to be a place for us, but
(21:33):
you got to watch these peoplethere to using the technology.
We can learn a lot from them andhow to use the technology to
further widen the gap and showwhy it's so much better to deal
with us.
Speaker 2 (21:47):
Does that make sense?
Speaker 1 (21:49):
We're not trying to be Walmart and get their
technology, but how can we learnfrom some of the things they do
Speaker 2 (21:54):
to better solidify our position is as full service
experts.
Speaker 1 (21:59):
Thank you all for being here today and stick
around for the lunch and learn.
It's gonna be a fun one.
Speaker 2 (22:05):
Thank you.
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