May 28, 2025 • 21 mins
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
um, ai is literally accelerating at just a
ridiculous pace.
Um, just the other day,google's vo3 uh was producing
video content.
It just came out.
Um, it was almost impossible todistinguish what was real and
(00:22):
what was ai created right.
Initially we had the weirdthings with the hands and the
backwards letters and all that,but now it's improving to the
point where it's almostfrightening.
I feel like we're borderline onthe days of minority report,
where it's like can we createvideos to where you can't even
(00:42):
tell what's real and not real?
We're at that stage already andit's accelerating at a
ridiculous pace For us here.
My team at Titanium is buildingAI agents to do everything from
billing for Titanium Universityto social media posting to
(01:03):
emailing, and these agents atthis point, I was blown away.
This morning I'm actually youguys are gonna see a wave of
posts on a daily basis becauseJust the productivity is gone up
.
I have so many videos out thatnow the agents that we've built
out can go in and all we reallyhave to do is just copy and
(01:28):
paste the YouTube link.
We'll probably have one forthis video, hi AI.
So we copy and paste the linkin there and it immediately
transcribes the video to wherewe can actually make sure it's
things that I said.
It doesn't try to think for me,writes the post, uploads it
(01:48):
into all the different locationsand then it just needs a simple
approval by myself or the team,with the thumbnails and
everything included, and it'slike such a simple little task.
But when you go back to priorto that Simple little task, but
when you go back to prior tothat, the bandwidth that was
required for us to put out thatcontent in such a short period
(02:12):
of time now enables me to putout so much more content than I
previously could.
And that's just one example.
Billing, I mean that now is anentire task that can be taken
off of someone else's plate andnow reallocating those resources
(02:34):
somewhere else.
And so these are some examplesof what we're currently doing
inside of our business.
The facts are it now we canleverage our human resources so
much more powerfully where whatI'm going to get to, where I
think we can.
Actually we have to, asbusiness owners, transition our
(02:58):
human resources, because in thepast it was all about kind of
pushing information and pushingpaper around.
That's what the majority ofemployees were doing for
businesses, and now that's notnecessarily the case, because we
can leverage AI to do that forus, and so what we're seeing is
(03:19):
is very quickly, some companiesare going to get left behind,
and are you one of them, right,as a wholesaler or real estate
investor?
How are you leveraging AIinside of your business?
Already We've seen in thecomments where people are
leveraging it to know whichleads they should or shouldn't
(03:40):
purchase.
Right, that's what Speed Leleads brought to the game.
With the scoring system, the AItranscribes of the leads prior
to you even purchasing the leaditself, and what does that do?
That should make your metricsbetter, and then the actual
human resources that you have asdoing acquisitions for you
(04:03):
should have better metrics.
So your cost per contract, yourcost per lead, should go down
and then, in return, moreprofitable business.
Other things like and this isinside of the real estate
industry.
I'm very curious to see what'sgoing to happen over the next 12
to 24 months.
What happens when AI becomesbetter at doing title than a
(04:30):
title company does right now?
Right, what happens when AI isbetter than a title company
could ever be?
Deeper title searches orknowing how to solve complex
title issues?
How many times who here has hada deal where, when the title
commitment came back, the titlecompany kind of raised their
(04:52):
hands up and said I don't knowwhat we can do to solve this.
I know it's been extremelyfrustrating for me, especially
when I am forced to use a titlecompany that I don't normally
use and we're using more of,like a retail transaction title
company.
They don't know how to solvethat issue.
(05:12):
Are title companies eventuallygoing to get replaced with AI?
Maybe there's a certain levelof human-to-human interaction
that we need in the titleprocess.
I know a couple of years agothe big thing was is that title
companies were eventually goingto be on the blockchain?
Maybe NFTs was going to be theanswer.
(05:34):
But now I'm curious as whatrole does AI have in the title
process, right?
Another idea or example that Ihad is what happens when we get
a property under contract andthen we can take a picture of a
property and AI can accuratelytake those pictures and then
(06:00):
know the exact cost to repairand the best place to get the
materials and what the cost ofthe labor should be for the
rehab on a property.
Like, we're not that far awayfrom these things being a
reality?
We're not that far away fromthese things being a reality,
who's going to stand up and bethe first boots on the ground
company or contracting companythat leverages AI to be able to
(06:23):
do that?
I know as a contractor and as awholesaler.
One of the most just timecommitment grueling things that
we have to go through isestimating jobs, understanding
what needs to be done, thematerials that need to be used.
What's the actual labor cost onthat?
(06:49):
Leveraging what AI can dofaster than any human could ever
do in that regard could beastronomical for us.
Right, and the facts are, as AIcontinues to progress, there's
so many people that are going tobe left behind if you don't
have certain skill sets, and sofor us, as real estate investors
(07:09):
, what is our number one job isto solve sellers problems and
buy properties for a discount.
Now, I don't think AI, or Idon't have a scenario in my head
as to where we can be replacedthrough that.
Yet I know that there'sdifferent AI cold callers, lead
(07:32):
generation companies, thingslike that that are coming out
right now.
Majority of that is to kind ofset the lead.
I've yet to see anything thatcan come across and compete with
.
Like, for example, if I'm onthe phone with a seller and an
AI agent is trying to talk to aseller.
I don't fear that.
Yet Us being able to identifywhat a seller's true problem is
(07:57):
and solve that and buy deeperand run a profitable wholesaling
company I believe that is apowerful skill set because the
facts are, people continue tohave motivating factors to sell
properties on a daily basis.
People continue to go furtherand further into debt.
There's been reports that havecome out about the increase in
(08:20):
foreclosures in quarter one of2025.
So the need for us is stillthere.
My concern is over the course ofthe next let's call it 12 to 36
months, as AI begins to replacepeople in their roles, in their
(08:44):
current jobs and professions.
What does that do to the realestate industry?
Say an industry?
I mean the market like theactual price points of homes,
because it does make companiesmore profitable.
But what happens to all thosepeople who lose their jobs?
(09:05):
I know over the past couple ofmonths we have had multiple
people join Titanium Universitybecause they either feared that
they were about to lose theirjob or they have lost their job
because they've been replaced byAI.
So they've actually lost theirjob.
Now they're going to starttheir own business because
(09:30):
they've realized that at thispoint, if they don't do that,
there really is no job security,because it's inevitable at some
point in time, if you don'thave a certain amount of
skillset that AI can't replace,you will be replaced by AI.
And so when that happens, whathappens to all of those people
(09:53):
that can no longer afford theirhouses?
What happens to the pricepoints of homes?
My prediction and I was talkingto a TU member, claude, earlier
today, who is very big into AI.
It was an impromptu phone call,it wasn't in preparation for
(10:13):
this live, it was just we hadsome things to talk about and
he's leveraging AI in multipledifferent ways in his business
right now More of like trackingwhat he does on a daily basis
(10:34):
and just better understandingwhat he does so he can stay more
organized.
But I asked them the questionof, as people get replaced by AI
, those people now can no longerafford their homes and they
might become to the point wherethey don't have a skillset so
they're jobless.
Does he foresee that impactingthe real estate market and the
price points in the long run?
And he said I don't know if Ican foresee that.
(10:58):
That's a deep crystal ball typequestion.
It's kind of his response.
My fear is is that when we seethat there are going to be a
significant amount of peoplethat are going to lose their
jobs, that initially there isgoing to be a dip in the price
(11:18):
points in the market.
Maybe this is 24, 36 monthsfrom now.
Maybe we look back at this in2027, 2028, we say, hey, rj can
see into a crystal ball.
That's my prediction is thatthere are going to be people
that are massively in need ofselling their house because they
no longer have a job.
Now what I do foresee happeningbecause of that is that there
(11:41):
will be more real estateinvestors purchasing properties
and those becoming rentals, andClaude did use the example of he
lives in Toronto.
He said Toronto is kind of amini New York City where more
people, more investors, areowning the real estate than
owner occupants.
I see that becoming a more.
(12:02):
That's probably going to becomethe reality that we live in,
because, across the board, likeas AI becomes to the point where
it can understand the laws Imean attorneys are already
mediocre at best Can AIeventually get to the point
(12:25):
where it replaces lawyers andattorneys Accountants I mean
when you talk to majority of theaccountants and CPAs that I've
talked to in my career, when wetry to dive deep into the
different ways that we could dotax savings and understanding
the tax code.
That is very complicated.
(12:46):
Ai would automatically know thetax code.
So these are professions thatcan be potentially at risk, and
maybe it's not the actualattorney himself or herself or
the accountant, but it's thepeople underneath them that work
.
Those are the jobs that Iforesee that get lost, and it's
(13:07):
the same thing inside of ourreal estate businesses.
Is it going to be the personthat owns the wholesaling
company or the real estateinvesting company, or is it what
we're already seeing?
The cold callers?
Cold callers can get replacedby AI.
What happened to that coldcaller, that person that was
(13:28):
working for you?
What happens to the companiesthat were relying on the amount
of seats that you had inside ofyour dialer, the data that you
need to pull?
Because now I'm beingapproached by people that have
AI that can now give you thedata where you don't have to go,
(13:48):
pull lists and skip trace.
The future is coming to whereit's now.
Hey, subscribe to this AI andit can pull the list of all the
FSBOs, all of the foreclosures,all of the vacant properties.
It will give you theinformation up front.
It'll already know you're inbuyers, it'll know their contact
(14:08):
information.
It's rapidly changing and thisis happening like right in front
of our eyes, and so I'm lookingat this and I'm like this is
amazing For those of us that arebusiness owners.
What about the people that workfor these companies that are now
losing the leverage that theyhad on the marketplace, and what
(14:29):
are the long term effects?
That's why the question is willAI destroy the real estate
industry?
It's not really clickbaity,it's actually a concern that I
have.
Is that?
What does the real estatemarket look like in three years
when AI has replaced themajority of jobs that exist
(14:51):
right now?
If I already have people comingto us, which we have somewhere
in the range of 550 peopleinside of Titanium University,
if I already know, in the pasttwo months, three people joined
because their job was replacedby AI, how many other thousands,
(15:12):
tens of thousands, hundreds ofthousands of people have
experienced the exact same thing?
It's a little bit frighteningto think about.
So my suggestion for each andevery one of us as business
owners is well one you have tobecome exceptional at what you
do, or you're at risk, like forus.
(15:35):
We believe that we areexceptional at virtual
wholesaling, acquiring deals andsolving sellers' problems.
Now, we are focused on thatevery single day to get better,
going back to hedgehog concept,consistent as a tree focus, our
habits, these are the core,fundamental elements that we
(15:58):
have here at Titanium and that'swhy I'm like, yeah, I'm a
little bit concerned about somethings, but I'm not necessarily
concerned about the impact thatit's going to have on our
wholesaling business.
Now, the real estate industry isalways going to exist.
There's always going to be aneed.
(16:18):
I've said this time and timeagain, even going all the way
back to 2019, 2020, 21, 22, 23.
Every year, there's been thisconcern that there was something
that was about to crash thereal estate market.
Now, the one that was the mostconcerning to me was 2022, when
(16:38):
the interest rates hiked upthere and there was a massive
reaction in buyers when thattook place.
Now, my concern was that wasgoing to be long-term.
It only lasted about 60 to 90days before we saw a pretty
quick turnaround where the endbuyers adjusted and we kind of
got back to hey, it's not whatit was.
(17:01):
Right, hedge funds kind of tooka step out for a while and some
of them still have, but we werestill able to dispo deals and
move it.
But what happens if we do see asignificant decrease in prices
because the owner-occupants areno longer buying the properties
(17:22):
at the price they can becausethey are jobless?
That is my ultimate concernover all of this, because so
many paper pushers are going tobe replaced.
That's it.
If you're one of them right now, if you're looking at what you
do in your profession, in yourjob, and you're like with what
(17:45):
AI could already do, you know,will it be able to do my job in
12 months?
Because if so, your boss or theowner of that company is
probably going to replace you.
That should be your largestconcern.
If you're currently working ajob, if you're a business owner,
you should be trying toleverage AI as much as possible
(18:08):
to make your business moreprofitable and to get back to,
ultimately, you becomingexceptional at what you do Now.
Moving forward, as we know, aiis going to become more and more
a part of all the businessesand just our lives in general.
I think the one thing that itwill not be able to replace is
(18:31):
your ability to createrelationships in that community
atmosphere and solving yourcustomer's problem, no matter
what that is, across the board.
So, going back to theconversation that I have with
Claude, claude's been a realestate agent in Canada for the
past 15 years and he talkedabout the just astronomical
(18:54):
amount of showings that he's hadon properties where he's taken
buyers and shown them theproperty.
And now there's been a lot oftechnological advances over the
past 15 years and he said I'verepeatedly been told that the
technology was going to replacereal estate agents, yet it
(19:16):
hasn't happened yet.
And to his point, there issomething about a buyer needing
to have that representation thatperson that goes and lets them
in the property, talks to themabout what their needs are,
points them in the rightdirection, walks them through
(19:37):
hey, this is the best lender towork with, this is the type of
loan Negotiates on their behalf.
But that human to humanrelationship, that is where I
believe the majority ofbusinesses are going to have to
focus, because otherwiseeverything else will get
replaced.
So if you look around in thewholesaling industry, what do we
(20:01):
do?
We solve seller's problems, oneof the things that I believe AI
is going to struggle to figureout how to do, because of that
human to human interaction, ourability to have a conversation,
dive deep into the truemotivation as to why they would
want to sell a piece of realestate for a discount and then
solve that and then, on thebackside, creating relationships
(20:25):
with our end buyers andunderstanding what it is that
they want.
Facts are, the majority ofinvestors are good old boys.
They don't really love the massemails, the mass text messages.
They don't love peopledaisy-chaining deals.
They want to build arelationship and know you're a
(20:46):
quality wholesaler that bringsme good deals, and I don't
foresee AI being able to takethat away from us as wholesalers
.
So, across the board, I feellike we're in a pretty decent
position inside of the realestate industry, but you need to
focus on your ability to bringsolutions to motivated sellers
(21:10):
and bringing great deals to yourend buyers and truly creating
those relationships, becauseotherwise, I think that's where
you will struggle.
That's your opportunity movingforward.
So my ultimate question withall of this, though is AI,
(21:30):
because of what it's going to doto the job market, eventually
going to impact the price ofreal estate?
My prediction I've been wrongbefore and I'll stand on this,
and if I'm wrong, I'll admit itin a couple of years.
I predict there will be a dipin prices because of people no
(21:52):
longer having jobs, because AIreplaced it.
um, ai is literally accelerating at just a
ridiculous pace.
Um, just the other day,google's vo3 uh was producing
video content.
It just came out.
Um, it was almost impossible todistinguish what was real and
(00:22):
what was ai created right.
Initially we had the weirdthings with the hands and the
backwards letters and all that,but now it's improving to the
point where it's almostfrightening.
I feel like we're borderline onthe days of minority report,
where it's like can we createvideos to where you can't even
(00:42):
tell what's real and not real?
We're at that stage already andit's accelerating at a
ridiculous pace For us here.
My team at Titanium is buildingAI agents to do everything from
billing for Titanium Universityto social media posting to
(01:03):
emailing, and these agents atthis point, I was blown away.
This morning I'm actually youguys are gonna see a wave of
posts on a daily basis becauseJust the productivity is gone up
.
I have so many videos out thatnow the agents that we've built
out can go in and all we reallyhave to do is just copy and
(01:28):
paste the YouTube link.
We'll probably have one forthis video, hi AI.
So we copy and paste the linkin there and it immediately
transcribes the video to wherewe can actually make sure it's
things that I said.
It doesn't try to think for me,writes the post, uploads it
(01:48):
into all the different locationsand then it just needs a simple
approval by myself or the team,with the thumbnails and
everything included, and it'slike such a simple little task.
But when you go back to priorto that Simple little task, but
when you go back to prior tothat, the bandwidth that was
required for us to put out thatcontent in such a short period
(02:12):
of time now enables me to putout so much more content than I
previously could.
And that's just one example.
Billing, I mean that now is anentire task that can be taken
off of someone else's plate andnow reallocating those resources
(02:34):
somewhere else.
And so these are some examplesof what we're currently doing
inside of our business.
The facts are it now we canleverage our human resources so
much more powerfully where whatI'm going to get to, where I
think we can.
Actually we have to, asbusiness owners, transition our
(02:58):
human resources, because in thepast it was all about kind of
pushing information and pushingpaper around.
That's what the majority ofemployees were doing for
businesses, and now that's notnecessarily the case, because we
can leverage AI to do that forus, and so what we're seeing is
(03:19):
is very quickly, some companiesare going to get left behind,
and are you one of them, right,as a wholesaler or real estate
investor?
How are you leveraging AIinside of your business?
Already We've seen in thecomments where people are
leveraging it to know whichleads they should or shouldn't
(03:40):
purchase.
Right, that's what Speed Leleads brought to the game.
With the scoring system, the AItranscribes of the leads prior
to you even purchasing the leaditself, and what does that do?
That should make your metricsbetter, and then the actual
human resources that you have asdoing acquisitions for you
(04:03):
should have better metrics.
So your cost per contract, yourcost per lead, should go down
and then, in return, moreprofitable business.
Other things like and this isinside of the real estate
industry.
I'm very curious to see what'sgoing to happen over the next 12
to 24 months.
What happens when AI becomesbetter at doing title than a
(04:30):
title company does right now?
Right, what happens when AI isbetter than a title company
could ever be?
Deeper title searches orknowing how to solve complex
title issues?
How many times who here has hada deal where, when the title
commitment came back, the titlecompany kind of raised their
(04:52):
hands up and said I don't knowwhat we can do to solve this.
I know it's been extremelyfrustrating for me, especially
when I am forced to use a titlecompany that I don't normally
use and we're using more of,like a retail transaction title
company.
They don't know how to solvethat issue.
(05:12):
Are title companies eventuallygoing to get replaced with AI?
Maybe there's a certain levelof human-to-human interaction
that we need in the titleprocess.
I know a couple of years agothe big thing was is that title
companies were eventually goingto be on the blockchain?
Maybe NFTs was going to be theanswer.
(05:34):
But now I'm curious as whatrole does AI have in the title
process, right?
Another idea or example that Ihad is what happens when we get
a property under contract andthen we can take a picture of a
property and AI can accuratelytake those pictures and then
(06:00):
know the exact cost to repairand the best place to get the
materials and what the cost ofthe labor should be for the
rehab on a property.
Like, we're not that far awayfrom these things being a
reality?
We're not that far away fromthese things being a reality,
who's going to stand up and bethe first boots on the ground
company or contracting companythat leverages AI to be able to
(06:23):
do that?
I know as a contractor and as awholesaler.
One of the most just timecommitment grueling things that
we have to go through isestimating jobs, understanding
what needs to be done, thematerials that need to be used.
What's the actual labor cost onthat?
(06:49):
Leveraging what AI can dofaster than any human could ever
do in that regard could beastronomical for us.
Right, and the facts are, as AIcontinues to progress, there's
so many people that are going tobe left behind if you don't
have certain skill sets, and sofor us, as real estate investors
(07:09):
, what is our number one job isto solve sellers problems and
buy properties for a discount.
Now, I don't think AI, or Idon't have a scenario in my head
as to where we can be replacedthrough that.
Yet I know that there'sdifferent AI cold callers, lead
(07:32):
generation companies, thingslike that that are coming out
right now.
Majority of that is to kind ofset the lead.
I've yet to see anything thatcan come across and compete with
.
Like, for example, if I'm onthe phone with a seller and an
AI agent is trying to talk to aseller.
I don't fear that.
Yet Us being able to identifywhat a seller's true problem is
(07:57):
and solve that and buy deeperand run a profitable wholesaling
company I believe that is apowerful skill set because the
facts are, people continue tohave motivating factors to sell
properties on a daily basis.
People continue to go furtherand further into debt.
There's been reports that havecome out about the increase in
(08:20):
foreclosures in quarter one of2025.
So the need for us is stillthere.
My concern is over the course ofthe next let's call it 12 to 36
months, as AI begins to replacepeople in their roles, in their
(08:44):
current jobs and professions.
What does that do to the realestate industry?
Say an industry?
I mean the market like theactual price points of homes,
because it does make companiesmore profitable.
But what happens to all thosepeople who lose their jobs?
(09:05):
I know over the past couple ofmonths we have had multiple
people join Titanium Universitybecause they either feared that
they were about to lose theirjob or they have lost their job
because they've been replaced byAI.
So they've actually lost theirjob.
Now they're going to starttheir own business because
(09:30):
they've realized that at thispoint, if they don't do that,
there really is no job security,because it's inevitable at some
point in time, if you don'thave a certain amount of
skillset that AI can't replace,you will be replaced by AI.
And so when that happens, whathappens to all of those people
(09:53):
that can no longer afford theirhouses?
What happens to the pricepoints of homes?
My prediction and I was talkingto a TU member, claude, earlier
today, who is very big into AI.
It was an impromptu phone call,it wasn't in preparation for
(10:13):
this live, it was just we hadsome things to talk about and
he's leveraging AI in multipledifferent ways in his business
right now More of like trackingwhat he does on a daily basis
(10:34):
and just better understandingwhat he does so he can stay more
organized.
But I asked them the questionof, as people get replaced by AI
, those people now can no longerafford their homes and they
might become to the point wherethey don't have a skillset so
they're jobless.
Does he foresee that impactingthe real estate market and the
price points in the long run?
And he said I don't know if Ican foresee that.
(10:58):
That's a deep crystal ball typequestion.
It's kind of his response.
My fear is is that when we seethat there are going to be a
significant amount of peoplethat are going to lose their
jobs, that initially there isgoing to be a dip in the price
(11:18):
points in the market.
Maybe this is 24, 36 monthsfrom now.
Maybe we look back at this in2027, 2028, we say, hey, rj can
see into a crystal ball.
That's my prediction is thatthere are going to be people
that are massively in need ofselling their house because they
no longer have a job.
Now what I do foresee happeningbecause of that is that there
(11:41):
will be more real estateinvestors purchasing properties
and those becoming rentals, andClaude did use the example of he
lives in Toronto.
He said Toronto is kind of amini New York City where more
people, more investors, areowning the real estate than
owner occupants.
I see that becoming a more.
(12:02):
That's probably going to becomethe reality that we live in,
because, across the board, likeas AI becomes to the point where
it can understand the laws Imean attorneys are already
mediocre at best Can AIeventually get to the point
(12:25):
where it replaces lawyers andattorneys Accountants I mean
when you talk to majority of theaccountants and CPAs that I've
talked to in my career, when wetry to dive deep into the
different ways that we could dotax savings and understanding
the tax code.
That is very complicated.
(12:46):
Ai would automatically know thetax code.
So these are professions thatcan be potentially at risk, and
maybe it's not the actualattorney himself or herself or
the accountant, but it's thepeople underneath them that work
.
Those are the jobs that Iforesee that get lost, and it's
(13:07):
the same thing inside of ourreal estate businesses.
Is it going to be the personthat owns the wholesaling
company or the real estateinvesting company, or is it what
we're already seeing?
The cold callers?
Cold callers can get replacedby AI.
What happened to that coldcaller, that person that was
(13:28):
working for you?
What happens to the companiesthat were relying on the amount
of seats that you had inside ofyour dialer, the data that you
need to pull?
Because now I'm beingapproached by people that have
AI that can now give you thedata where you don't have to go,
(13:48):
pull lists and skip trace.
The future is coming to whereit's now.
Hey, subscribe to this AI andit can pull the list of all the
FSBOs, all of the foreclosures,all of the vacant properties.
It will give you theinformation up front.
It'll already know you're inbuyers, it'll know their contact
(14:08):
information.
It's rapidly changing and thisis happening like right in front
of our eyes, and so I'm lookingat this and I'm like this is
amazing For those of us that arebusiness owners.
What about the people that workfor these companies that are now
losing the leverage that theyhad on the marketplace, and what
(14:29):
are the long term effects?
That's why the question is willAI destroy the real estate
industry?
It's not really clickbaity,it's actually a concern that I
have.
Is that?
What does the real estatemarket look like in three years
when AI has replaced themajority of jobs that exist
(14:51):
right now?
If I already have people comingto us, which we have somewhere
in the range of 550 peopleinside of Titanium University,
if I already know, in the pasttwo months, three people joined
because their job was replacedby AI, how many other thousands,
(15:12):
tens of thousands, hundreds ofthousands of people have
experienced the exact same thing?
It's a little bit frighteningto think about.
So my suggestion for each andevery one of us as business
owners is well one you have tobecome exceptional at what you
do, or you're at risk, like forus.
(15:35):
We believe that we areexceptional at virtual
wholesaling, acquiring deals andsolving sellers' problems.
Now, we are focused on thatevery single day to get better,
going back to hedgehog concept,consistent as a tree focus, our
habits, these are the core,fundamental elements that we
(15:58):
have here at Titanium and that'swhy I'm like, yeah, I'm a
little bit concerned about somethings, but I'm not necessarily
concerned about the impact thatit's going to have on our
wholesaling business.
Now, the real estate industry isalways going to exist.
There's always going to be aneed.
(16:18):
I've said this time and timeagain, even going all the way
back to 2019, 2020, 21, 22, 23.
Every year, there's been thisconcern that there was something
that was about to crash thereal estate market.
Now, the one that was the mostconcerning to me was 2022, when
(16:38):
the interest rates hiked upthere and there was a massive
reaction in buyers when thattook place.
Now, my concern was that wasgoing to be long-term.
It only lasted about 60 to 90days before we saw a pretty
quick turnaround where the endbuyers adjusted and we kind of
got back to hey, it's not whatit was.
(17:01):
Right, hedge funds kind of tooka step out for a while and some
of them still have, but we werestill able to dispo deals and
move it.
But what happens if we do see asignificant decrease in prices
because the owner-occupants areno longer buying the properties
(17:22):
at the price they can becausethey are jobless?
That is my ultimate concernover all of this, because so
many paper pushers are going tobe replaced.
That's it.
If you're one of them right now, if you're looking at what you
do in your profession, in yourjob, and you're like with what
(17:45):
AI could already do, you know,will it be able to do my job in
12 months?
Because if so, your boss or theowner of that company is
probably going to replace you.
That should be your largestconcern.
If you're currently working ajob, if you're a business owner,
you should be trying toleverage AI as much as possible
(18:08):
to make your business moreprofitable and to get back to,
ultimately, you becomingexceptional at what you do Now.
Moving forward, as we know, aiis going to become more and more
a part of all the businessesand just our lives in general.
I think the one thing that itwill not be able to replace is
(18:31):
your ability to createrelationships in that community
atmosphere and solving yourcustomer's problem, no matter
what that is, across the board.
So, going back to theconversation that I have with
Claude, claude's been a realestate agent in Canada for the
past 15 years and he talkedabout the just astronomical
(18:54):
amount of showings that he's hadon properties where he's taken
buyers and shown them theproperty.
And now there's been a lot oftechnological advances over the
past 15 years and he said I'verepeatedly been told that the
technology was going to replacereal estate agents, yet it
(19:16):
hasn't happened yet.
And to his point, there issomething about a buyer needing
to have that representation thatperson that goes and lets them
in the property, talks to themabout what their needs are,
points them in the rightdirection, walks them through
(19:37):
hey, this is the best lender towork with, this is the type of
loan Negotiates on their behalf.
But that human to humanrelationship, that is where I
believe the majority ofbusinesses are going to have to
focus, because otherwiseeverything else will get
replaced.
So if you look around in thewholesaling industry, what do we
(20:01):
do?
We solve seller's problems, oneof the things that I believe AI
is going to struggle to figureout how to do, because of that
human to human interaction, ourability to have a conversation,
dive deep into the truemotivation as to why they would
want to sell a piece of realestate for a discount and then
solve that and then, on thebackside, creating relationships
(20:25):
with our end buyers andunderstanding what it is that
they want.
Facts are, the majority ofinvestors are good old boys.
They don't really love the massemails, the mass text messages.
They don't love peopledaisy-chaining deals.
They want to build arelationship and know you're a
(20:46):
quality wholesaler that bringsme good deals, and I don't
foresee AI being able to takethat away from us as wholesalers
.
So, across the board, I feellike we're in a pretty decent
position inside of the realestate industry, but you need to
focus on your ability to bringsolutions to motivated sellers
(21:10):
and bringing great deals to yourend buyers and truly creating
those relationships, becauseotherwise, I think that's where
you will struggle.
That's your opportunity movingforward.
So my ultimate question withall of this, though is AI,
(21:30):
because of what it's going to doto the job market, eventually
going to impact the price ofreal estate?
My prediction I've been wrongbefore and I'll stand on this,
and if I'm wrong, I'll admit itin a couple of years.
I predict there will be a dipin prices because of people no
(21:52):
longer having jobs, because AIreplaced it.
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