May 2, 2025 • 38 mins
Episode Overview:
In this no-fluff episode, John Kitchens, Jay Kinder, and Al Stasek break down the biggest market and industry shifts real estate pros must understand right now to stay relevant and win.
From navigating rising inventory and pricing homes right to eXp’s bold play for consumer transparency, this conversation arms agents and team leaders with real-world insights, battle-tested scripts, and tools to beat the “walled garden” model that’s threatening agent relevance.
Plus: the launch of the Honey Badger Legacy Line and the return of Honey Badger of the Month—an award recognizing agents who embody resilience, grit, and relentless pursuit of growth.
Key Takeaways:
Market Update: Inventory Rises, Pricing Gets Real
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Homes still sell fast—but only if priced on the button
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Buyers are more selective; sellers are no longer calling all the shots
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Multiple offers are happening, but fewer in number
Positioning = Everything
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Authority + trust = pricing power
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Educated sellers are more likely to price correctly and listen
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Agents must re-learn how to establish expert status before talking strategy
eXp’s Seller Advisory Form Is a Game-Changer
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A tool to educate sellers on the risks of private listings and reduced exposure
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Helps agents explain the real downside of Compass-style “office exclusives”
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It’s open source—available to all agents, regardless of brokerage
Scriptable Insight: Why Pocket Listings Hurt the Seller
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“Do you believe in supply and demand? Then why would you limit your exposure to 2% of the market?”
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Preemptive strikes win listings—educate the seller before the competition shows up
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Use data to show the advantage of public portal exposure (Zillow views, saves, shares)
The Return of Honey Badger of the Month
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Recognizing agents who’ve shown perseverance, grit, and resourcefulness
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Nominations now open at HoneyBadgerNation.com
Legacy Line Merch Drop
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All-new, upgraded hoodies, hats, and notebooks now available
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Higher quality. Limited drop. Show your Honey Badger pride.
Bonus Concepts:
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Why expired listings are often caused by poor agent pricing systems
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When to walk away from an unrealistic seller (and how to position yourself as their next agent)
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How to fram
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Seven figure success starts whenyou start thinking like a CEO.
Welcome to the JohnKitchens Coach Podcast.
Experience is your host, John Kitchens.
Get ready to think bigger andtransform your business into
a path to lasting freedom.
What is happening,honey Badger Nation man.
Welcome to another episode of One BigFire, and, uh, man, we got three great
(00:24):
topics for you guys today as we'regonna dive into what we're seeing
with, uh, home appreciation and, uh,seeing, uh, you know, the cooling
as, as inventories continue to grow.
Um, we're gonna dive into exp Realtyas they launched, uh, the Open
Source Seller Advisory Forum and, uh,talk a little Trump administration.
Let's see what he's, uh, seewhat he's up to with the CF pb.
(00:46):
Job cuts.
What's good fellas?
What's happening?
It's a good week.
It's a good week.
Nice, nice.
So, uh, we got a little, uh,we got a little swag update.
Mr. Stac, I'll let you, uh, ascause is, is rocking some news.
Rock.
New gear.
The new gear.
Yeah.
Ours, ours have hasn't evenhit the mailbox yet, so,
(01:08):
uh, Jay, Jay got it first.
Awesome.
Soon we're gonna be seeing alot of the new, the new line
that we, uh, the legacy line.
So we got a new honey badger.
Uh, merch legacy line.
It's sweet.
Um, we got hats.
We got, um, the t-shirts and reallycool, like, I guess you could call 'em,
(01:29):
um, you know, the hardbound notebooks.
Um, some, some people call, call 'em,um, I guess diary books or whatever
they call 'em, but they're awesome.
I love taking mine everywhere.
Uh, whether it's a conferenceor just writing notes.
When I'm on a pod, I'mlistening to a podcast.
Jot 'em down.
Uh, we got you coveredand it's gonna be great.
Go to honey badger nation.com.
(01:51):
Just scroll down to the, uh, merch buttonand it says Honey Badger Merch Store.
You click on that and you can see, um, allthe different, uh, things you can pick up.
And, uh, we're excited.
We got beanies, um, t-shirts, sweatshirts.
I'm excited about the hoodie.
Yeah, the hoodie looks dope.
The hoodie.
The hoodie.
(02:11):
And the other thing too isif anyone's ever bought.
In the past, uh, the first, um,uh, hoodies that they were putting
out, they were just kind of thin.
You washed 'em a few times.
They got real thin.
We upgraded those to the, tothe, a higher quality hoodie.
Mine hasn't even come yet, but,um, I think Alison grabbed one in.
They're, they're awesome.
So can't wait for thatto come in the mail.
(02:32):
But check it out, honey badger nation.com.
Um, get your honey badger gear.
Let's go.
Also got a little update 'causewith our Honey Badger of the Month
nomination about ready to roll.
Looking forward to, uh, looking forwardto throwing that out and adding some,
uh, celebrating some Honey Badger
(02:57):
is our form.
Is our form available?
Is it ready to, actually, I'mactually checking it right now.
It was built but I didn't seeit on honey imagination.com.
Um, but it is built.
So by the time this is done,we'll re we will revisit it.
I'll find out where that form is soyou can nominate, um, and, you know,
like, okay, well how do you nominate it?
(03:18):
How do you nominate somebody?
What, why would they, um, kindof go over that real quick.
Just so since we're on the topic,why would somebody nominate
someone else or even themselvesfor Honey Badger the month,
Jay.
Oh, that was a question for me.
Yeah, sorry.
I mean, if you know you're a honeybadger, uh, then, you know, I
(03:40):
guess you could nominate yourself.
But I think, I think it's, you know,um, better for the community, for you
to notice someone who's being a honeybadger and, uh, and nominate them.
And it is a covetedaward to say the least.
Uh, the, the, the peoplethat have won this, including
yourself, al over the years, um.
Are the, the baddest of thebad asses in, in our network of
(04:02):
people that are getting shit done,making things happen relentless.
Um, and so, yeah, so I think, uh, youknow, if you want a nice little swag bag,
you know, you wanna do someone a favor.
You see someone out there doing honey bagsof shit, you know, give 'em a nomination.
Do 'em a solid, it is, man.
It it, you know, um.
We all, we all go through it, right?
(04:23):
We're all going through some shit.
We've either, we're either in it or wejust got out of it, or I can promise you
one's a coming and, um, it, it's, it, itreally is, you know, to kind of test your
fortitude and, and what you're made of.
And I. I mean, it's justany, anything in, in growth.
Right?
You know, Stewman has, youknow, the force of average.
But it's true.
Anytime you, you know, you're trying tolevel up anytime you're trying, trying
(04:45):
to push, which honey badger do Right?
Just relentless.
And no matter what's thrown,thrown our way, we're gonna,
we're always gonna find a way.
Right.
And I think that's really what itembodies is, is the people that just.
Have the fortitude to, you know, nothing'sgonna, nothing's gonna slow 'em down.
They're, they're gonna find away to, to reach the objective.
They're gonna find to, to dothe thing that they want to do.
(05:06):
No matter what is going,is gonna slow 'em down.
And so, man, if that's you or the, youknow, the people that you're riding
with, that's you throw 'em in there, man.
Get the nomination,honey badger nation.com.
We want to, we wanna celebrate some ofthese, these, uh, badass honey badgers
that we have in the Honey Badger Nation.
So looking forward to,to celebrating some.
Some amazing people, um, in thecoming, in the coming months.
(05:28):
So, all right, let's dive in guys.
Um, let's, let's hit, let's hit,uh, first and foremost kind of
what we're seeing in the market.
Um, the appreciation is, uh, youknow, article from, from Inman
talking about kind of where they'reprojecting home prices, uh, to go.
Uh, they're seeing 'em to slow a bit, but.
Inventory is starting to creep up.
(05:48):
Yeah, I know.
The conversations I'm having withagents all across the country,
that's what we're seeing.
Right.
I know, um, I remember Kendall talkinglast year, you know, it was the perfect
storm of low demand and, and low supply.
Right.
But now we're starting to see anuptick in inventory and buyers,
you know, having some more options.
(06:09):
But what, what are you guys seeingas, as in conversation, but also
kind of what they're touchingon here in the Inman article?
Yeah, I mean there's a, there's ahandful of markets that are, that are,
that are getting a lot more inventory.
So, you know, depending on what marketsyou're in, you're filling it, you know,
probably more so than, than the average.
Um, but certainly, uh, dayson market going up, certainly
(06:30):
inventory starting to climb.
And obviously that has an impact on,you know, the projection for house price
appreciation this year, which I thoughtwas pretty aggressive, uh, originally at.
Was it 3.3 0.4% down from 5.8 last year?
Um, we started to see a little bitof, uh, you know, course correction.
Nothing double digit.
I think it was, it was in thenines, was the biggest, the
(06:53):
biggest correction in price.
And there was multiplemarkets throughout Florida.
Um, down in, in, in the lower thecoast areas, down into Texas as well
is where we saw a lot of the, uh, youknow, the, the course correction, but.
I mean, do you think we'll startto see any, any double digit
course correction on prices?
No, I don't.
(07:13):
I don't, I don't think so.
Um, not yet.
You know, not until you see, you know,you, you start seeing 120 day average
on, you know, days on the market.
You're not gonna see things, you know,come, you're not gonna see, feel that
pressure as a seller if everything'sstill, I mean, if everything went
from selling in 30 days to 60 days.
That's, that's still mo,that's still a seller's market.
Mm-hmm.
So it's still very evenlysupplied, if not still a seller's
(07:36):
market in almost all markets.
So you're, you know, you're not ina buyer's market and you know, and
that has to hit for some time beforeyou start to see prices come down.
The thing is, if, if that does happen.
You know, the sellers have theequity to make those moves.
So if inventory was high and your homehasn't sold in 90 to 120 days, you're
gonna lower the price because you can.
And if you have to sell it,you're gonna lower the price.
(07:57):
It seems like it could be headed tothat direction, but I, I don't know
that, that we would see any kind.
You know, moving, you know, negativeappreciation in terms of, you know,
you know, home prices this year.
I don't think that's realistic.
The pessimist, you know, they, youknow, they have the graph that shows
the pessimist versus the optimist.
It's a broad, a broad spectrum ofwhat people believe will happen,
but it seems like just more or lessflat or keeping up with appreciation
(08:19):
is kind of the low expectation.
And, you know, the high expectationis, you know, ridiculously high.
So, um, you know, it feels to melike, you know, you know, 3% to
three point half percent is probablykind of what to expect Yeah.
For the next couple years.
And, you know, interestrates could play into that.
Obviously.
You know, they, they get these rates down,which, you know, it doesn't look like
Jerome Powell's gonna listen to Trump.
(08:40):
Um, feels like Trump wouldlike to get him down some more.
I think it would behelpful if he did, but.
Doesn't, doesn't look like he's,he's gonna pull the trigger on that.
So probably, probably a more to come ofwhat we're currently seeing than anything.
Yeah.
And I know, you know,every market's different.
Right.
Being able to pay attention to, and youknow, obviously we have a, obviously a,
a strong following in, in Ohio and havinga lot of conversations last couple weeks.
(09:05):
I mean, Al you guys are still, I mean,inventory's still relatively low for
you guys throughout most of the part.
Cleveland and the suburbs.
Yeah.
We're still getting multipleoffers if it's priced right.
Um, and that's the big difference betweenlike, let's say three years ago, it
actually didn't have to be, you couldget away with overpricing it a little
(09:26):
bit and still get multiple offers.
You're not going to get away withoverpricing it now and getting, but if
you, if you do price it competitively,you're still, we just had a house,
um, that was actually expired.
And, and I'll give you some real numbers.
They, it expired at 400,000 'cause that'swhat the seller thought it was worth.
(09:47):
Uh, one of our agents jumped in, listedit, and convinced them that if they
could just list it at three 50, whichis what the market's telling them
that they should be at, that they'reprobably gonna get more than that.
They ended up getting six offersand their highest one was 4 0 1.
How did it not sell at 4 01 when it was listed at 400?
(10:07):
Well, you know, that that previousagent probably had it up at
a higher price, eked it down.
By the time they eked it down,it was, it was probably showing
120 to 180 days on the market.
And we know that, you know, andI think Zillow is now starting to
show these days on the market, orthey have for a while, whatever.
But now I think sellers are seeing it.
(10:27):
So, you know, the, the way we'recoaching our agents is look, um,
when you're talking to a seller,ask them, what do you think?
Like number one red flag is.
If you were a shopper, you were ahome buyer, and you see a house that's
been on the market, what's, what doyou think the, the, the number one
thing that they look at and theythink, well, it's probably overpriced.
It's not the price, because mostpeople, by just looking at a house
(10:50):
and a price, I. They're not able tojust, you know, determine, they're
not an expert enough to look at itand say, oh, that's way overpriced.
No, it's the days on the market.
Mm-hmm.
So if you're seeing the days onthe market, it's the number one red
flag saying, well, if it's a hundredand uh, 20 days on the market, then
it must not be worth that price.
Right?
So it must be less.
(11:11):
So it's gonna force, forcethe buyer to probably make a
lower offer on that property.
However, price it right.
Now the, now the market, the truemarket, the ready, willing, able buyers,
the people who are serious buyersthat are ready to, they're gonna buy.
If it's close, they're allgonna, they're all gonna jump
on the boat at the same time.
And you probably will still get the, youknow, the effect of an over, over list,
(11:34):
um, um, you know, sale possibly, you know,so we are still seeing multiple offers.
They are less and less.
It's not.
13 offers, you know, three to six, butthere's still multiple offers, which
is still a good sign that there'sbuyers out there that need a house.
I think that inventory levels goingup is not an entirely bad thing.
(11:55):
Mm-hmm.
You know, you know, think aboutsomeone made a really good point.
I don't remember what I was listeningto, but, um, actually it was in
the, it was in the training we did,we're doing these AHA meetings.
It's agents helping agents.
That's what AHA stands for.
And um, it's a lot of theagents that are stuck.
And so you have some experiencedagents coming in and sharing
their wisdom and knowledge.
And one of them had said, there's alot of buyers out there, excuse me, A
(12:19):
lot of homeowners that had bought in20 20, 20 21, 20 22, that are just not
happy with the house that they, theybought because they felt forced into
the house that they really didn't want.
It wasn't like the ideal house.
Because things were flying off.
They found themselves settling,lowering their, their standards
for what they really wanted fortheir family and just going into
(12:40):
something that they could make work.
So, um, you know, I think that.
You're gonna have a lot more happierhomeowners because they do actually
have more of that selection out there.
Um, but you know, hey, if there's 3%,3.4% appreciation, that's an average.
I think it, I read in the article,guys, maybe you can correct me if
(13:02):
I'm wrong, but San Francisco, which.
You could argue is not a normalmarket, it's just not normal.
Right.
Like it, you know, it's not youraverage person average sale price.
There is well over a milliondollars, maybe it's up to two now.
Um, and it's very unaffordableand they have experienced
a slight decline in price.
(13:23):
But that would be, that's normal.
'cause it's alreadymassively inflated already.
And we're not just not seeing thatin, in just kind of normal markets.
I dunno if you're seeing it in Frisco.
Frisco's been one of those markets, oneof the hottest, uh, markets in the us
People flooding that market to move there.
And um, and they'vebeen high prices there.
(13:43):
So I don't know what you're hearingfrom teams down in Frisco, but.
We're still getting multiple offersand, and, you know, more normal markets.
Yep.
Yeah.
Yeah.
I think as you say, price, right?
If it's priced right on the button,you're getting multiple offers.
Yeah.
Yeah.
I think that's the key too.
Right?
So like, um, a, a couple examples.
So talking with, with, withGeorgia, so going, even going
(14:05):
up north, right into Canada.
And you know, you shouldbe able to play the game.
Come in high, they would come in low.
We would meet in the middle where wewanted to be, and then play the game where
we were low and it would drive it up.
And she's like, they're not,nobody's playing the games anymore.
So like she's talking abouthow critical it is to nail it.
Right?
Right on the button iswhere we need to be.
(14:26):
And I'm like, listen, and, and thiswas, this was always our rule of thumb.
If there is no real motivation, likeif there is not a dire situation
that they absolutely have to.
Do not take it overpriced.
And Leanne and I were talking about,um, she was listening to something
Tina was saying, and you know,we, we've, we've heard it, right?
(14:48):
It's like, like, I, cool.
Good luck.
Right?
When it doesn't sell, call meand I will, I will be your,
you know, I'm not interested innecessarily being your first agent.
I'm only being interested inbeing your, your last agent.
And, and I think that's really whatwe're seeing right now is like if
there's not, like they absolutely haveto have to, and they're not gonna be
realistic on price and all the datasupports that it needs to be here,
(15:09):
and they're not budging off of here.
I mean, I think you just gottamake a business decision and if you
understand your value and your time,and they ain't gonna get right.
I mean, I think it's just like, youknow, I, I love Tina's advice, right?
Like, you know, good luck.
I'll, I'll chat with youwhen it doesn't sell.
So I think it's just making that, andWally threw in some really good statistics
and, and I think it's good to, goodto understand homes aren't selling
(15:30):
for, you know, they're coming off.
I. Because most agents, like,like, like Wally's saying, they
don't have a system to accuratelyprice a home in today's market.
They don't take into considerationof all of the variables involved.
I mean, it's law, one, law of expertise,asking the tough questions, factoring
in all the different variables.
It's all right there that we haveto get back to, uh, to really
(15:51):
looking at, to be able to positioncorrectly in today's market.
Yeah, I think, um, the other topic thatcame up in this pricing, um, it was
cool that I think it was Thursday that,uh, this this meeting happened in, in
Cleveland was that it kind of bringsback all the CHSA principles that we've
coached and taught for over a decade.
(16:12):
And I believe the number onething that you guys taught me
was we have to establish trustand, and, and, um, and authority.
Why is that so important?
And the trust thing is obvious.
Authority.
Why authority?
Because they're gonna listen to you.
If they're not going to listen toyour advice, that means they're
(16:33):
not respecting the advice.
They don't believe thatyou know more than they do.
They believe that theyknow more than you do.
And, um,
so, so Wally, along with my mother.
Or the, uh, two, you know, they'reganging up on me saying, I need a haircut.
And please, yeah, WallyVenmo me the money.
You're right, I do, I do needthe cash for a good haircut.
(16:56):
So my, my, uh, leave it to Wallyto throw the train of thought out.
So, uh, so, so if you're able toestablish that authority, meaning.
When you're coming in thereshowing them that you're like
demonstrating that you're an export.
You can't just say you're anexpert without, especially now.
Mm-hmm.
2020 and 2021, you could absolutelyget away with selling a bunch
(17:20):
of listings and not being anexpert, slapping 'em up there.
'cause it wasn't reallyhard to be a listing agent.
If you can land that listing, get'em to sign on the line, that's
dotted, you're gonna sell the listing.
Now you're gonna need skills.
Now you're gonna have to goback to the principles of,
you know, what is your plan?
What does it involve?
How do I raise the perceivedvalue of your property?
(17:42):
And can you demonstrate that to aseller enough that they not only trust
you, but they look at you in a as anauthority, and when it's time to price.
Price the house correctly.
They listen to you.
If they don't, and you're not ableto establish that authority either.
It's gonna be a long listing, whichis gonna elongate the, the amount
of time that you're gonna be ableto land the, the commission on that.
(18:03):
Or you're, it's just gonna expire andyou just wasted all of that time, money,
energy, and it's gonna go to anotheragent who, who they will listen to.
Yeah.
A hundred percent.
It really is it, I mean, I love that.
And you know, that's one of the,you know, I know Al you went through
the PBD, you know, training, uh,for the year, and that's one of the
things he talked about in there.
Right.
(18:23):
You know, moral authority.
Right?
A lot.
And that's what he is saying is alot of you don't have authority.
And they don't trust you.
And so you gotta be able to, you know,demonstrate and you know, your value.
People you've been able to, to, to help.
I think testimonials, I think reviews,I think the actual data numbers and
things are more critical now thanever just because people don't trust.
So you gotta, you gotta provethat you, you are, you know,
(18:45):
you do have the authority, youknow what you're talking about.
Leveraging the market reports,revisiting KCM, get your real market
reports, altos reports, whatever.
You have the data to be ableto support, you know, your.
You know, your viewpoint from yourexperience, I think is really, really key.
So speaking of, of listing tools, let's,let's touch on the next, uh, topic.
Um, and, and Jay, I know you wanna diveinto this one, but exp realty launches
(19:10):
open source seller advisory form.
What the heck does that even mean?
Dude, I love this.
This is, this is what, thisis us over here playing chess.
So, so this is risks oflimited market exposure.
This is some shit that I would'vedone like, but the CEX exp do it.
It just is awesome.
So it literally goes throughand explains the financial risk.
(19:32):
Longer time on the market.
Limited buyer exposure.
No public portals.
We're having every seller, we'reeducating every seller to our benefits.
Like this is cov, this covers.
It's important because most agents,the good agents all know how to
leverage this in the conversationand in the listing appointment.
This is, this is now forcing thatconversation to be had with, with and
(19:55):
educate them to what happens when yourhome isn't listed on all the portals.
And so this is a game we're playingagainst Compass and anybody else
who wants to play the die on themountain of, we're gonna have our
own little, little pocket listings.
Um, which is a terriblestrategy, but they're, they're
sticking to their guns so far.
But I think this is super powerfuland, and it's open source, so you
(20:16):
can go to exp toolkit, uh, I thinkit's four slash seller, um mm-hmm.
And anybody can download this andcreate your own version of it.
Um, it's super powerful.
I, you know, it, it would be,it would be, it's what I would
call the Compass killer form.
Like this is, this is howyou compete against Compass.
And, and then to back that up, the, thedata, um, it's in the Inman article, um,
(20:37):
how, how Zillow view sa, uh, saves andshares impact home price and sales speed.
This should be, you know, content thatyou build into your presentation on the
importance of being on these portals.
250 views per day, typicallyunder contract in a week,
75% go pending in two weeks.
500 views a day off the sell above list.
Five saves per day, likelyunder contract in a week.
(20:58):
10 saves a day.
Strong indicator sell,uh, sell above list price.
Like all this is real data ofwhether, if you're not on Zillow,
then we don't have data for you.
So your, your, your odds of sellingor, or selling at a high price and
as a percentage, uh, of the askingprice or above the asking price.
By being on Zillow and havingthose views is, is a, it should
(21:20):
be built into your presentation.
And, uh, again, if we're, if you'reever competing against someone who's
trying to, um, put it, you know, putthis, you know, put this in their,
uh, their own little portal andnot go, that doesn't go to Zillow,
that doesn't play well with Zillow.
That home's not getting that exposure.
So this should be a talk track forevery, every agent, uh, every agent
that's not at one of those companies.
(21:41):
For sure.
Yeah.
And it's, sorry, John, go ahead.
Go ahead bud.
I'm just gonna read the one part,and it was like, in this form,
it feels like something thatwe would write in one of ours.
Like, yeah.
You know, one more brokerages.
You know, I love this becausethis is like the, the, the, um.
The preemptive strike.
(22:01):
Remember we used to like we teach, okay.
You know, some of these agentsstill use this thing called a CMA
right to price your house and, andkind of really talking sellers.
'cause we know that if you'recompeting against that listing, four
out of five agents that are gonnain, they're gonna show 'em a CMA.
Yep.
What we do, we pull market statistics,we look at homes on the market.
(22:21):
Not just sales.
A lot of people look at a CM and say,look at, well, there's five sales here,
so your home should be priced here.
The problem is that thebuyers today aren't looking at
those sales, they're looking.
They're comparing that houseto all the other homes that
are currently on the market.
If they're gonna go shopping forhomes, what are they gonna look at?
2, 3, 4, 5 homes in an afternoonand they're gonna be comparing
(22:44):
your home to the other fourthat they saw, not the souls.
So the preemptive strike that they wrotehere, so I'll read it prior to engaging
in any form of office exclusive orprivate listing network or pocket listing.
It's imperative to establish prioritiesand assess the potential ramifications.
(23:06):
Restricted visibility on the both thebuyer demand and transaction results.
So, you know, it, it's, it's, it's, thinkof it this way and, and, you know, you
can convince people by just asking themquestions, letting them come to their
own conclusion versus just telling them.
And the question, a great questionwould be, you know, Mr. Mr. Uh kitchens.
(23:29):
I know that you'd love to sell your housefor the, you had shared with me that
you wanna sell your home for the highestprice in the shortest period of time.
Do you think that you could achieve thatthrough, let's say, multiple offers,
say 5, 6, 7 offers, or maybe one?
What do you think you, you, your odds areof getting your highest potential price?
Or even over your asking price?
(23:49):
Yeah.
Many upward as possible.
Yep.
Yeah.
Anyone with a half a brainis gonna say multiple.
Right?
Well, what do you think ifyou're gonna sign up to this?
That, that they're, they're paintingthis picture of an O Office, exclusive
this office with Compass or, you know,some of our other, you know, Howard
Hannah's trying to do this as well.
Um, if they're just exposing it to justthose agents that are in that office.
(24:13):
What do you think the odds of gettingsix offers over asking price are
versus the thousands of buyers thatif we were to market it to, you know,
into the MLS and all these publicfacing portals, including Zillow.
Well, your odds are exponentiallyhigher of getting that.
For instance, the, the exampleI was talking about it was, it
was a seller listed at 400,000.
(24:33):
It expired.
The, the, the, the listing agent, thenext listing agent, it was happened
to be exp, is one of our agents.
She recommended that the market sayingyou should be listed at three 50.
Boom.
They ended up getting 4 0 1.
That would not have happened if theyhad done a pocket listing office
exclusive or, or any of these things.
So it's actually not areally hard conversation.
(24:56):
No, it's.
So it's, so, Mr. Seller, do you, do youbelieve in the loss of supply and demand?
Yes.
Okay.
Well, 71% of all sales come from a, froma cooperative agent from another company.
So if you're gonna be listing with acompany, um, should you not, would you not
want to be exposed to all of the agentsand all the buyers in the marketplace?
(25:16):
I mean, it is, this is easy.
It's easy.
We would crush any Compass agenton if they stick this stay this
course, it's not good for them.
What, what data points would make themake the story even more compelling?
Would you need to know how many Compassagents that you're competing against, how
many homes they sold in the marketplace?
How many agents are in the marketplace?
How many total transactions?
(25:37):
Like if you could articulate alittle bit of that data in there
as well, how much more you know?
Well, yeah, think about it.
Would that create.
The number of agents in the marketplaceversus number of compass agents,
you're talking about exposingprobably to 1% to they, they
have one or 1%, 2% market share.
So you're probably exposing it to oneto 2% of the whole agent population.
And we know that 70% of the buyerscome, 71% of all buyers come from a
(26:00):
cooperative agent that's probably lookingon Zillow and how they found the property.
So if you're, you're gonna limit yourself,you know, by two thirds, you know,
two thirds of the entire marketplace.
By going with that company, which one,which do you think is better for you?
Yeah, I love that.
Right?
I mean, that, I think that's importantmessage for everybody listening
in is like, you need to know thoselittle details because it tells
(26:21):
a better story and, and, and, youknow, creates more authority for you.
Being able to, um, I don't even wannasay argue, but you know, you know,
make your point of like, come on,Mr. Mrs. Seller, you guys are smart.
I know you get this.
Yep.
Right?
Little n. Uh huh.
So you would never call for this,but some companies, some companies
actually have their own portal andthey tell you it's better for them.
(26:41):
If I know I'm competing against aCompass agent, I can't say that the
Compass agent is an is an idiot.
You know, I can't talk bad about them.
That does not build trust.
So what you can say is, you know, somecomp, some companies out there actually
try to convince you that it's betterfor you to be on their private portal
and not be on MLS and be, you know,marketed to all the buyers and all the
agents that are in the marketplace.
I know you would never fall for that.
(27:02):
But that's a funny story that some,some companies are, that will try to
tell you so that they can keep yourlisting in house and hopefully sell
it themselves as opposed to trying toattract the, the, the most amount of
eyeballs to attract you the highest price.
Does that make sense?
Right.
Like that's again, now you'resaying it without saying that.
I love that dude.
I know you would never fall for that.
Yeah, I know you never,you guys are smart.
You get it.
(27:22):
You guys are smart.
If you, if if, if I didn't know youguys, you walked in my house and you
know, you, you were doing your, your,your dog and pony and you said, Al,
I know you'd never fall for that.
I'd be like,
well, shit.
That's when you see the, the wifeunder the table kick the husband.
Like that's what thatother guy said was gonna do
(27:46):
side of this.
Been hearing some.
People defending this.
Right.
And the only thing that, and thisisn't even legit, but the only one
that I'm really hearing is thisthing that sellers have the right
to market their home how they want.
You can't, you know what I'm saying?
Like they've always had the right,they can do for sale, for sale.
(28:09):
They could do, they could do a,um, you know, they can sign a
form that states they don't wantthe, the, the thing listed at all.
And that's fine.
But they should know.
The problem is, is that agentsare being taught by their office
managers to, to, to basically mm-hmm.
Lie to these sellers and tell'em this is better for them.
(28:30):
Mm-hmm.
And, and the only only entity that winsis the, is the brokerage because they
have a chance of double ending thatkeeping both sides, ensuring that if
it co brokes, it's co-broking withinwith, with two agents within the same
brokerage, not an outside brokerage, whichmakes who the mo most amount of money.
The brokerage broker, I mean, itencourages bad behavior in the industry.
(28:52):
It's not, it, it's not whatit's, it's, it's never better.
Like it's never better.
Like it's never better to not hitthe market and, and have every, and
have, you know, multitude of optionsof potential buyers, of different
financing and terms and conditions.
All make an offer at the same time.
You, you, that's when you win the most.
That's you have the best opportunity.
That's not better for the seller.
(29:14):
And, and if, if, if a company is takingthat stance and all the agents are
are saying the same thing, they'reliterally lying to their clients.
They're lying to them.
And that's not good forthis industry at all.
No, not at all.
Guys listening in.
Um, a lot of the, the, the things thatwe're talking about are all out of the
articles for Amendment over the past week.
So if you're trying to, tofollow along, you wanna go back.
(29:36):
Um, if you, you know, um, are not divingin or not, don't have a subscription
to admin, get your subscription.
Um, all the articles and thethings in the, in the information
we're talking about is in there.
The, the one on e exp comes from Bam,which is another great source now,
bam.com, a tremendous, uh, resourceto be able to go get, uh, all of
the things that we're talking about.
So.
Guys, let's move into,go to exp. Uh, hold on.
(30:00):
I had it up exp toolkit,I think is what it is.
Yeah.
Exp toolkit.com.
And you can download all of all the stufffrom exp, whether you're at exp or not.
So it's open source.
Use it at, use it at your leisure.
I love it.
Awesome.
Thanks for sharing that.
I love that.
I love that form.
I think it's so, it's so gangster.
I love it.
I love it.
(30:20):
Alright guys, let's talk about the lasttopic of, uh, discussion for today.
Um, talking about the Trump administrationmaking its case for massive CFPB job cuts.
Um, what's our thoughts here?
Less government is.
You know, it's, um, you know, we rememberwhen, when, when that came about.
(30:43):
And the, the, I believe one ofthe biggest reasons they, they
formed this new government entity.
I was actually blownaway when I saw seven.
It's got 1700 employees.
Yeah.
I mean that's, that's, we can do a wholepodcast on government waste and why.
These bureaucracies are justgrowing to be out of control.
(31:04):
1700 employees.
But it was formed to protectconsumers against predatory lending.
Lending that, you know, therewere no, no no document.
You don't gotta prove your income,you just state your income.
And there were all these wild andwacky, wild, wild west loans being
given out to people that couldn't,um, they just couldn't afford it.
(31:27):
At the end of the day, theywrote the loans anyway.
They closed these loans anyway and,and I don't know, just, just, I
don't know what the percentage was,but it was just a huge percentage.
A tsunami of loans going bad and into,into foreclosure, and they needed
an entity to step in and say, Heylook, we can't be doing these loans.
You gotta watch out.
Also.
(31:48):
The appraisal part too inflated, uh,protecting against inflated appraisals.
'cause that was the other thing thatpeople were doing, was they, the
values were going up at such a fastpace that they could get an appraisal
to say, ah, could you appraise it at,at, at, at 500,000, even though it's
only worth 400 at the, the valueswere going up so, so quickly that
(32:09):
the appraisals, the appraisers felt,well, you know, this is safe still.
And a lot of those guysgot thrown in jail too, so.
I don't think, I think that the intentionbehind the, in the entity was, was good
and ain't it always, almost always.
Um, but just like anything,it started getting bloated.
Lots of, uh, lots of waste,wasteful, you know, Hey, you get a
(32:31):
job, you get a job, you get a job.
Next thing you know, you blink.
We, we, we, we pick our head up andthere are no, those loans don't even
really, you know, exist anymore.
You don't have stated loans forthe, for the best of my knowledge.
Um, and, and now we're startingto see some more creative things,
but like an arm for instance, andnot just your traditional arm.
(32:54):
Where it might make sense to do it,where it's slowly an arm loan, like
you know, year one goes up by maybea quarter of a point, year two goes
up by another quarter of a point.
And that's just a gradual, and I likethat one better than after year three.
It goes up, you know, towhatever the L-I-B-O-R is.
And so people get into trouble.
Their mortgage payment, you, you know,it was going from, let's say it was
(33:14):
900 bucks a month to $1,500 a month.
Well all of a suddennow it's unaffordable.
Those people are gonnastart to fall behind.
For that reason.
I like that, you know, a little bit ofoversight, but it's obviously Trump comes
in as Trump does, and says, we're takingthis sucker down to 200 employees from
1700 and um, I think a judge upheld it.
(33:40):
But said, look, you have to proveto us that you could still run this
agency, um, you know, effectivelywith 200 employees versus 1700.
And, um, I have faith that theycould do it, but we'll see.
You know, I like seeingsmaller, smaller government.
I like seeing, uh, less regulation, notto the point where it starts to hurt, hurt
(34:03):
a consumer, but there is a happy mediumand I think we're going toward that.
Yeah, there's no doubt based on what we'veseen the last, you know, four months,
um, that there's probably inefficienciesin, in the, in the current structure.
So I, I would imagine, yeah.
You know, my thought just, justwith, you know, thinking, thinking
(34:23):
through kind of a, uh, a green light,yellow light red light with ai and.
Getting things in alignment, right?
Like if, if if things aren't inalignment, you ain't gonna be around.
And so, you know, immediatelywhen I start seeing this and all
the, you know, things of how, howregulation and, and put things there.
And I'm like, can AI not, not do that?
(34:45):
Can, can there not be some, youknow, can you not have 10 people
oversee it with the power of ai?
Like, that's, that's where my mind goes.
And, and I think that's, if we'renot thinking that way, if you're not
thinking about how, how am I. Youknow, in a getting in alignment, right?
And we talked about it the last fewtimes, like discipline over disruption.
What is not going to change?
(35:06):
What do I need to focuson within my control?
Where does the alignment need to be?
And like when I hear this and see this,and I'm like, well, if, if they do what
they do and they had to do it with ahundred people, how would they do it?
And it's just like, yeah, I don't know.
I just see a lot of disruption.
I see.
You know, that just doesn't makesense as we continue to move forward.
(35:28):
You know, they probably got a bunchof paper files on their desk and
they probably, you know, use a dotmatrix printer and it's probably,
yeah.
Yeah.
It is.
It's, it, it, it's really interesting.
So, um, I think, you know too, you know.
On the, on the AI conversation alittle bit, a little bit off topic.
And I was just thinking, havinga great conversation with,
(35:50):
um, an another honey badger.
Um, we'll, we'll, we'll, we'll give himthe, the honorary title, Mr. Brandon Town.
And was talking to Brandon this morningabout a lot of, um, you know, kind
of the direction and, and, and ai.
'cause it's been on his mind.
It's been on a lot of people's minds.
Um, just as you start to try to.
You know, figure things out a littlebit differently and, and how, you know,
(36:12):
there's always gotta be a better way.
And we were discussing it, you know,kinda this morning and talking about,
you know, the one thing that will not getdisrupted is, is a real community, right?
A real environment.
People that you can really lean on.
And that's, to me, that'swhat we have here, right?
That's what Honey Badger Nation is, um,is, is a real environment to really lean
(36:33):
upon each other, to be able to, to knowthat we got, you know, some, some people.
Deep in the trenches that areactually doing the work that we
can lean on and, um, you know,really pull from to, to continue to
grow and continue to move forward.
Yes, sir. So, um, Wally, Ijust got a little notification.
He sent me $25.
(36:56):
Personally, Wally, I, I think thatthe reason you sent me the $25 is
because that's just a little depositon the money you're gonna owe me
when the calves smoke the Celticsand the playoffs coming up here.
Is fine.
I'll hang on to it.
You're probably gonna owe me alittle bit more than that, but, um,
appreciate the deposit on, on that.
Lost bet.
What's up Pat?
A what's up Jason P. Jordan, my brother.
(37:18):
What's up guys?
What's up fellas?
So, um, guys, I know we're gonnacontinue rocking and rolling.
Um.
Pay attention.
Reach into, dive intoHoney badger nation.com.
Grab your swag.
Also get the nomination up.
Um, we will start to announce May willbe our first Honey Badger of the month.
Uh, we're talking about some cool, coolstuff that we wanna do to celebrate
(37:40):
the Honey Badger of the month andthrowing around some ideas what we
wanna do for a Honey Badger of the Year.
So nomination in.
That nomination linkwas just posted on mine.
We're gonna get it to you guys so youcan post it up on your wall for your
audience to listen to this, we're gonnapost it@honeybadgernation.com here.
We're gonna put that link up.
There should be by the end of the day, andwe will also put it in the Facebook group.
(38:04):
Honey Badger Nation, uh Facebook group.
We love you guys.
Appreciate you joining us today.
Yes sir. Guys, we'll see you big fire.
We'll see you later.
That's a wrap for today.
I hope you got somethingvaluable from this episode.
If you did, hit follow andvisit John Kitchens coach for
more ways we can work together.
(38:24):
See you on the next episode.
Seven figure success starts whenyou start thinking like a CEO.
Welcome to the JohnKitchens Coach Podcast.
Experience is your host, John Kitchens.
Get ready to think bigger andtransform your business into
a path to lasting freedom.
What is happening,honey Badger Nation man.
Welcome to another episode of One BigFire, and, uh, man, we got three great
(00:24):
topics for you guys today as we'regonna dive into what we're seeing
with, uh, home appreciation and, uh,seeing, uh, you know, the cooling
as, as inventories continue to grow.
Um, we're gonna dive into exp Realtyas they launched, uh, the Open
Source Seller Advisory Forum and, uh,talk a little Trump administration.
Let's see what he's, uh, seewhat he's up to with the CF pb.
(00:46):
Job cuts.
What's good fellas?
What's happening?
It's a good week.
It's a good week.
Nice, nice.
So, uh, we got a little, uh,we got a little swag update.
Mr. Stac, I'll let you, uh, ascause is, is rocking some news.
Rock.
New gear.
The new gear.
Yeah.
Ours, ours have hasn't evenhit the mailbox yet, so,
(01:08):
uh, Jay, Jay got it first.
Awesome.
Soon we're gonna be seeing alot of the new, the new line
that we, uh, the legacy line.
So we got a new honey badger.
Uh, merch legacy line.
It's sweet.
Um, we got hats.
We got, um, the t-shirts and reallycool, like, I guess you could call 'em,
(01:29):
um, you know, the hardbound notebooks.
Um, some, some people call, call 'em,um, I guess diary books or whatever
they call 'em, but they're awesome.
I love taking mine everywhere.
Uh, whether it's a conferenceor just writing notes.
When I'm on a pod, I'mlistening to a podcast.
Jot 'em down.
Uh, we got you coveredand it's gonna be great.
Go to honey badger nation.com.
(01:51):
Just scroll down to the, uh, merch buttonand it says Honey Badger Merch Store.
You click on that and you can see, um, allthe different, uh, things you can pick up.
And, uh, we're excited.
We got beanies, um, t-shirts, sweatshirts.
I'm excited about the hoodie.
Yeah, the hoodie looks dope.
The hoodie.
The hoodie.
(02:11):
And the other thing too isif anyone's ever bought.
In the past, uh, the first, um,uh, hoodies that they were putting
out, they were just kind of thin.
You washed 'em a few times.
They got real thin.
We upgraded those to the, tothe, a higher quality hoodie.
Mine hasn't even come yet, but,um, I think Alison grabbed one in.
They're, they're awesome.
So can't wait for thatto come in the mail.
(02:32):
But check it out, honey badger nation.com.
Um, get your honey badger gear.
Let's go.
Also got a little update 'causewith our Honey Badger of the Month
nomination about ready to roll.
Looking forward to, uh, looking forwardto throwing that out and adding some,
uh, celebrating some Honey Badger
(02:57):
is our form.
Is our form available?
Is it ready to, actually, I'mactually checking it right now.
It was built but I didn't seeit on honey imagination.com.
Um, but it is built.
So by the time this is done,we'll re we will revisit it.
I'll find out where that form is soyou can nominate, um, and, you know,
like, okay, well how do you nominate it?
(03:18):
How do you nominate somebody?
What, why would they, um, kindof go over that real quick.
Just so since we're on the topic,why would somebody nominate
someone else or even themselvesfor Honey Badger the month,
Jay.
Oh, that was a question for me.
Yeah, sorry.
I mean, if you know you're a honeybadger, uh, then, you know, I
(03:40):
guess you could nominate yourself.
But I think, I think it's, you know,um, better for the community, for you
to notice someone who's being a honeybadger and, uh, and nominate them.
And it is a covetedaward to say the least.
Uh, the, the, the peoplethat have won this, including
yourself, al over the years, um.
Are the, the baddest of thebad asses in, in our network of
(04:02):
people that are getting shit done,making things happen relentless.
Um, and so, yeah, so I think, uh, youknow, if you want a nice little swag bag,
you know, you wanna do someone a favor.
You see someone out there doing honey bagsof shit, you know, give 'em a nomination.
Do 'em a solid, it is, man.
It it, you know, um.
We all, we all go through it, right?
(04:23):
We're all going through some shit.
We've either, we're either in it or wejust got out of it, or I can promise you
one's a coming and, um, it, it's, it, itreally is, you know, to kind of test your
fortitude and, and what you're made of.
And I. I mean, it's justany, anything in, in growth.
Right?
You know, Stewman has, youknow, the force of average.
But it's true.
Anytime you, you know, you're trying tolevel up anytime you're trying, trying
(04:45):
to push, which honey badger do Right?
Just relentless.
And no matter what's thrown,thrown our way, we're gonna,
we're always gonna find a way.
Right.
And I think that's really what itembodies is, is the people that just.
Have the fortitude to, you know, nothing'sgonna, nothing's gonna slow 'em down.
They're, they're gonna find away to, to reach the objective.
They're gonna find to, to dothe thing that they want to do.
(05:06):
No matter what is going,is gonna slow 'em down.
And so, man, if that's you or the, youknow, the people that you're riding
with, that's you throw 'em in there, man.
Get the nomination,honey badger nation.com.
We want to, we wanna celebrate some ofthese, these, uh, badass honey badgers
that we have in the Honey Badger Nation.
So looking forward to,to celebrating some.
Some amazing people, um, in thecoming, in the coming months.
(05:28):
So, all right, let's dive in guys.
Um, let's, let's hit, let's hit,uh, first and foremost kind of
what we're seeing in the market.
Um, the appreciation is, uh, youknow, article from, from Inman
talking about kind of where they'reprojecting home prices, uh, to go.
Uh, they're seeing 'em to slow a bit, but.
Inventory is starting to creep up.
(05:48):
Yeah, I know.
The conversations I'm having withagents all across the country,
that's what we're seeing.
Right.
I know, um, I remember Kendall talkinglast year, you know, it was the perfect
storm of low demand and, and low supply.
Right.
But now we're starting to see anuptick in inventory and buyers,
you know, having some more options.
(06:09):
But what, what are you guys seeingas, as in conversation, but also
kind of what they're touchingon here in the Inman article?
Yeah, I mean there's a, there's ahandful of markets that are, that are,
that are getting a lot more inventory.
So, you know, depending on what marketsyou're in, you're filling it, you know,
probably more so than, than the average.
Um, but certainly, uh, dayson market going up, certainly
(06:30):
inventory starting to climb.
And obviously that has an impact on,you know, the projection for house price
appreciation this year, which I thoughtwas pretty aggressive, uh, originally at.
Was it 3.3 0.4% down from 5.8 last year?
Um, we started to see a little bitof, uh, you know, course correction.
Nothing double digit.
I think it was, it was in thenines, was the biggest, the
(06:53):
biggest correction in price.
And there was multiplemarkets throughout Florida.
Um, down in, in, in the lower thecoast areas, down into Texas as well
is where we saw a lot of the, uh, youknow, the, the course correction, but.
I mean, do you think we'll startto see any, any double digit
course correction on prices?
No, I don't.
(07:13):
I don't, I don't think so.
Um, not yet.
You know, not until you see, you know,you, you start seeing 120 day average
on, you know, days on the market.
You're not gonna see things, you know,come, you're not gonna see, feel that
pressure as a seller if everything'sstill, I mean, if everything went
from selling in 30 days to 60 days.
That's, that's still mo,that's still a seller's market.
Mm-hmm.
So it's still very evenlysupplied, if not still a seller's
(07:36):
market in almost all markets.
So you're, you know, you're not ina buyer's market and you know, and
that has to hit for some time beforeyou start to see prices come down.
The thing is, if, if that does happen.
You know, the sellers have theequity to make those moves.
So if inventory was high and your homehasn't sold in 90 to 120 days, you're
gonna lower the price because you can.
And if you have to sell it,you're gonna lower the price.
(07:57):
It seems like it could be headed tothat direction, but I, I don't know
that, that we would see any kind.
You know, moving, you know, negativeappreciation in terms of, you know,
you know, home prices this year.
I don't think that's realistic.
The pessimist, you know, they, youknow, they have the graph that shows
the pessimist versus the optimist.
It's a broad, a broad spectrum ofwhat people believe will happen,
but it seems like just more or lessflat or keeping up with appreciation
(08:19):
is kind of the low expectation.
And, you know, the high expectationis, you know, ridiculously high.
So, um, you know, it feels to melike, you know, you know, 3% to
three point half percent is probablykind of what to expect Yeah.
For the next couple years.
And, you know, interestrates could play into that.
Obviously.
You know, they, they get these rates down,which, you know, it doesn't look like
Jerome Powell's gonna listen to Trump.
(08:40):
Um, feels like Trump wouldlike to get him down some more.
I think it would behelpful if he did, but.
Doesn't, doesn't look like he's,he's gonna pull the trigger on that.
So probably, probably a more to come ofwhat we're currently seeing than anything.
Yeah.
And I know, you know,every market's different.
Right.
Being able to pay attention to, and youknow, obviously we have a, obviously a,
a strong following in, in Ohio and havinga lot of conversations last couple weeks.
(09:05):
I mean, Al you guys are still, I mean,inventory's still relatively low for
you guys throughout most of the part.
Cleveland and the suburbs.
Yeah.
We're still getting multipleoffers if it's priced right.
Um, and that's the big difference betweenlike, let's say three years ago, it
actually didn't have to be, you couldget away with overpricing it a little
(09:26):
bit and still get multiple offers.
You're not going to get away withoverpricing it now and getting, but if
you, if you do price it competitively,you're still, we just had a house,
um, that was actually expired.
And, and I'll give you some real numbers.
They, it expired at 400,000 'cause that'swhat the seller thought it was worth.
(09:47):
Uh, one of our agents jumped in, listedit, and convinced them that if they
could just list it at three 50, whichis what the market's telling them
that they should be at, that they'reprobably gonna get more than that.
They ended up getting six offersand their highest one was 4 0 1.
How did it not sell at 4 01 when it was listed at 400?
(10:07):
Well, you know, that that previousagent probably had it up at
a higher price, eked it down.
By the time they eked it down,it was, it was probably showing
120 to 180 days on the market.
And we know that, you know, andI think Zillow is now starting to
show these days on the market, orthey have for a while, whatever.
But now I think sellers are seeing it.
(10:27):
So, you know, the, the way we'recoaching our agents is look, um,
when you're talking to a seller,ask them, what do you think?
Like number one red flag is.
If you were a shopper, you were ahome buyer, and you see a house that's
been on the market, what's, what doyou think the, the, the number one
thing that they look at and theythink, well, it's probably overpriced.
It's not the price, because mostpeople, by just looking at a house
(10:50):
and a price, I. They're not able tojust, you know, determine, they're
not an expert enough to look at itand say, oh, that's way overpriced.
No, it's the days on the market.
Mm-hmm.
So if you're seeing the days onthe market, it's the number one red
flag saying, well, if it's a hundredand uh, 20 days on the market, then
it must not be worth that price.
Right?
So it must be less.
(11:11):
So it's gonna force, forcethe buyer to probably make a
lower offer on that property.
However, price it right.
Now the, now the market, the truemarket, the ready, willing, able buyers,
the people who are serious buyersthat are ready to, they're gonna buy.
If it's close, they're allgonna, they're all gonna jump
on the boat at the same time.
And you probably will still get the, youknow, the effect of an over, over list,
(11:34):
um, um, you know, sale possibly, you know,so we are still seeing multiple offers.
They are less and less.
It's not.
13 offers, you know, three to six, butthere's still multiple offers, which
is still a good sign that there'sbuyers out there that need a house.
I think that inventory levels goingup is not an entirely bad thing.
(11:55):
Mm-hmm.
You know, you know, think aboutsomeone made a really good point.
I don't remember what I was listeningto, but, um, actually it was in
the, it was in the training we did,we're doing these AHA meetings.
It's agents helping agents.
That's what AHA stands for.
And um, it's a lot of theagents that are stuck.
And so you have some experiencedagents coming in and sharing
their wisdom and knowledge.
And one of them had said, there's alot of buyers out there, excuse me, A
(12:19):
lot of homeowners that had bought in20 20, 20 21, 20 22, that are just not
happy with the house that they, theybought because they felt forced into
the house that they really didn't want.
It wasn't like the ideal house.
Because things were flying off.
They found themselves settling,lowering their, their standards
for what they really wanted fortheir family and just going into
(12:40):
something that they could make work.
So, um, you know, I think that.
You're gonna have a lot more happierhomeowners because they do actually
have more of that selection out there.
Um, but you know, hey, if there's 3%,3.4% appreciation, that's an average.
I think it, I read in the article,guys, maybe you can correct me if
(13:02):
I'm wrong, but San Francisco, which.
You could argue is not a normalmarket, it's just not normal.
Right.
Like it, you know, it's not youraverage person average sale price.
There is well over a milliondollars, maybe it's up to two now.
Um, and it's very unaffordableand they have experienced
a slight decline in price.
(13:23):
But that would be, that's normal.
'cause it's alreadymassively inflated already.
And we're not just not seeing thatin, in just kind of normal markets.
I dunno if you're seeing it in Frisco.
Frisco's been one of those markets, oneof the hottest, uh, markets in the us
People flooding that market to move there.
And um, and they'vebeen high prices there.
(13:43):
So I don't know what you're hearingfrom teams down in Frisco, but.
We're still getting multiple offersand, and, you know, more normal markets.
Yep.
Yeah.
Yeah.
I think as you say, price, right?
If it's priced right on the button,you're getting multiple offers.
Yeah.
Yeah.
I think that's the key too.
Right?
So like, um, a, a couple examples.
So talking with, with, withGeorgia, so going, even going
(14:05):
up north, right into Canada.
And you know, you shouldbe able to play the game.
Come in high, they would come in low.
We would meet in the middle where wewanted to be, and then play the game where
we were low and it would drive it up.
And she's like, they're not,nobody's playing the games anymore.
So like she's talking abouthow critical it is to nail it.
Right?
Right on the button iswhere we need to be.
(14:26):
And I'm like, listen, and, and thiswas, this was always our rule of thumb.
If there is no real motivation, likeif there is not a dire situation
that they absolutely have to.
Do not take it overpriced.
And Leanne and I were talking about,um, she was listening to something
Tina was saying, and you know,we, we've, we've heard it, right?
(14:48):
It's like, like, I, cool.
Good luck.
Right?
When it doesn't sell, call meand I will, I will be your,
you know, I'm not interested innecessarily being your first agent.
I'm only being interested inbeing your, your last agent.
And, and I think that's really whatwe're seeing right now is like if
there's not, like they absolutely haveto have to, and they're not gonna be
realistic on price and all the datasupports that it needs to be here,
(15:09):
and they're not budging off of here.
I mean, I think you just gottamake a business decision and if you
understand your value and your time,and they ain't gonna get right.
I mean, I think it's just like, youknow, I, I love Tina's advice, right?
Like, you know, good luck.
I'll, I'll chat with youwhen it doesn't sell.
So I think it's just making that, andWally threw in some really good statistics
and, and I think it's good to, goodto understand homes aren't selling
(15:30):
for, you know, they're coming off.
I. Because most agents, like,like, like Wally's saying, they
don't have a system to accuratelyprice a home in today's market.
They don't take into considerationof all of the variables involved.
I mean, it's law, one, law of expertise,asking the tough questions, factoring
in all the different variables.
It's all right there that we haveto get back to, uh, to really
(15:51):
looking at, to be able to positioncorrectly in today's market.
Yeah, I think, um, the other topic thatcame up in this pricing, um, it was
cool that I think it was Thursday that,uh, this this meeting happened in, in
Cleveland was that it kind of bringsback all the CHSA principles that we've
coached and taught for over a decade.
(16:12):
And I believe the number onething that you guys taught me
was we have to establish trustand, and, and, um, and authority.
Why is that so important?
And the trust thing is obvious.
Authority.
Why authority?
Because they're gonna listen to you.
If they're not going to listen toyour advice, that means they're
(16:33):
not respecting the advice.
They don't believe thatyou know more than they do.
They believe that theyknow more than you do.
And, um,
so, so Wally, along with my mother.
Or the, uh, two, you know, they'reganging up on me saying, I need a haircut.
And please, yeah, WallyVenmo me the money.
You're right, I do, I do needthe cash for a good haircut.
(16:56):
So my, my, uh, leave it to Wallyto throw the train of thought out.
So, uh, so, so if you're able toestablish that authority, meaning.
When you're coming in thereshowing them that you're like
demonstrating that you're an export.
You can't just say you're anexpert without, especially now.
Mm-hmm.
2020 and 2021, you could absolutelyget away with selling a bunch
(17:20):
of listings and not being anexpert, slapping 'em up there.
'cause it wasn't reallyhard to be a listing agent.
If you can land that listing, get'em to sign on the line, that's
dotted, you're gonna sell the listing.
Now you're gonna need skills.
Now you're gonna have to goback to the principles of,
you know, what is your plan?
What does it involve?
How do I raise the perceivedvalue of your property?
(17:42):
And can you demonstrate that to aseller enough that they not only trust
you, but they look at you in a as anauthority, and when it's time to price.
Price the house correctly.
They listen to you.
If they don't, and you're not ableto establish that authority either.
It's gonna be a long listing, whichis gonna elongate the, the amount
of time that you're gonna be ableto land the, the commission on that.
(18:03):
Or you're, it's just gonna expire andyou just wasted all of that time, money,
energy, and it's gonna go to anotheragent who, who they will listen to.
Yeah.
A hundred percent.
It really is it, I mean, I love that.
And you know, that's one of the,you know, I know Al you went through
the PBD, you know, training, uh,for the year, and that's one of the
things he talked about in there.
Right.
(18:23):
You know, moral authority.
Right?
A lot.
And that's what he is saying is alot of you don't have authority.
And they don't trust you.
And so you gotta be able to, you know,demonstrate and you know, your value.
People you've been able to, to, to help.
I think testimonials, I think reviews,I think the actual data numbers and
things are more critical now thanever just because people don't trust.
So you gotta, you gotta provethat you, you are, you know,
(18:45):
you do have the authority, youknow what you're talking about.
Leveraging the market reports,revisiting KCM, get your real market
reports, altos reports, whatever.
You have the data to be ableto support, you know, your.
You know, your viewpoint from yourexperience, I think is really, really key.
So speaking of, of listing tools, let's,let's touch on the next, uh, topic.
Um, and, and Jay, I know you wanna diveinto this one, but exp realty launches
(19:10):
open source seller advisory form.
What the heck does that even mean?
Dude, I love this.
This is, this is what, thisis us over here playing chess.
So, so this is risks oflimited market exposure.
This is some shit that I would'vedone like, but the CEX exp do it.
It just is awesome.
So it literally goes throughand explains the financial risk.
(19:32):
Longer time on the market.
Limited buyer exposure.
No public portals.
We're having every seller, we'reeducating every seller to our benefits.
Like this is cov, this covers.
It's important because most agents,the good agents all know how to
leverage this in the conversationand in the listing appointment.
This is, this is now forcing thatconversation to be had with, with and
(19:55):
educate them to what happens when yourhome isn't listed on all the portals.
And so this is a game we're playingagainst Compass and anybody else
who wants to play the die on themountain of, we're gonna have our
own little, little pocket listings.
Um, which is a terriblestrategy, but they're, they're
sticking to their guns so far.
But I think this is super powerfuland, and it's open source, so you
(20:16):
can go to exp toolkit, uh, I thinkit's four slash seller, um mm-hmm.
And anybody can download this andcreate your own version of it.
Um, it's super powerful.
I, you know, it, it would be,it would be, it's what I would
call the Compass killer form.
Like this is, this is howyou compete against Compass.
And, and then to back that up, the, thedata, um, it's in the Inman article, um,
(20:37):
how, how Zillow view sa, uh, saves andshares impact home price and sales speed.
This should be, you know, content thatyou build into your presentation on the
importance of being on these portals.
250 views per day, typicallyunder contract in a week,
75% go pending in two weeks.
500 views a day off the sell above list.
Five saves per day, likelyunder contract in a week.
(20:58):
10 saves a day.
Strong indicator sell,uh, sell above list price.
Like all this is real data ofwhether, if you're not on Zillow,
then we don't have data for you.
So your, your, your odds of sellingor, or selling at a high price and
as a percentage, uh, of the askingprice or above the asking price.
By being on Zillow and havingthose views is, is a, it should
(21:20):
be built into your presentation.
And, uh, again, if we're, if you'reever competing against someone who's
trying to, um, put it, you know, putthis, you know, put this in their,
uh, their own little portal andnot go, that doesn't go to Zillow,
that doesn't play well with Zillow.
That home's not getting that exposure.
So this should be a talk track forevery, every agent, uh, every agent
that's not at one of those companies.
(21:41):
For sure.
Yeah.
And it's, sorry, John, go ahead.
Go ahead bud.
I'm just gonna read the one part,and it was like, in this form,
it feels like something thatwe would write in one of ours.
Like, yeah.
You know, one more brokerages.
You know, I love this becausethis is like the, the, the, um.
The preemptive strike.
(22:01):
Remember we used to like we teach, okay.
You know, some of these agentsstill use this thing called a CMA
right to price your house and, andkind of really talking sellers.
'cause we know that if you'recompeting against that listing, four
out of five agents that are gonnain, they're gonna show 'em a CMA.
Yep.
What we do, we pull market statistics,we look at homes on the market.
(22:21):
Not just sales.
A lot of people look at a CM and say,look at, well, there's five sales here,
so your home should be priced here.
The problem is that thebuyers today aren't looking at
those sales, they're looking.
They're comparing that houseto all the other homes that
are currently on the market.
If they're gonna go shopping forhomes, what are they gonna look at?
2, 3, 4, 5 homes in an afternoonand they're gonna be comparing
(22:44):
your home to the other fourthat they saw, not the souls.
So the preemptive strike that they wrotehere, so I'll read it prior to engaging
in any form of office exclusive orprivate listing network or pocket listing.
It's imperative to establish prioritiesand assess the potential ramifications.
(23:06):
Restricted visibility on the both thebuyer demand and transaction results.
So, you know, it, it's, it's, it's, thinkof it this way and, and, you know, you
can convince people by just asking themquestions, letting them come to their
own conclusion versus just telling them.
And the question, a great questionwould be, you know, Mr. Mr. Uh kitchens.
(23:29):
I know that you'd love to sell your housefor the, you had shared with me that
you wanna sell your home for the highestprice in the shortest period of time.
Do you think that you could achieve thatthrough, let's say, multiple offers,
say 5, 6, 7 offers, or maybe one?
What do you think you, you, your odds areof getting your highest potential price?
Or even over your asking price?
(23:49):
Yeah.
Many upward as possible.
Yep.
Yeah.
Anyone with a half a brainis gonna say multiple.
Right?
Well, what do you think ifyou're gonna sign up to this?
That, that they're, they're paintingthis picture of an O Office, exclusive
this office with Compass or, you know,some of our other, you know, Howard
Hannah's trying to do this as well.
Um, if they're just exposing it to justthose agents that are in that office.
(24:13):
What do you think the odds of gettingsix offers over asking price are
versus the thousands of buyers thatif we were to market it to, you know,
into the MLS and all these publicfacing portals, including Zillow.
Well, your odds are exponentiallyhigher of getting that.
For instance, the, the exampleI was talking about it was, it
was a seller listed at 400,000.
(24:33):
It expired.
The, the, the, the listing agent, thenext listing agent, it was happened
to be exp, is one of our agents.
She recommended that the market sayingyou should be listed at three 50.
Boom.
They ended up getting 4 0 1.
That would not have happened if theyhad done a pocket listing office
exclusive or, or any of these things.
So it's actually not areally hard conversation.
(24:56):
No, it's.
So it's, so, Mr. Seller, do you, do youbelieve in the loss of supply and demand?
Yes.
Okay.
Well, 71% of all sales come from a, froma cooperative agent from another company.
So if you're gonna be listing with acompany, um, should you not, would you not
want to be exposed to all of the agentsand all the buyers in the marketplace?
(25:16):
I mean, it is, this is easy.
It's easy.
We would crush any Compass agenton if they stick this stay this
course, it's not good for them.
What, what data points would make themake the story even more compelling?
Would you need to know how many Compassagents that you're competing against, how
many homes they sold in the marketplace?
How many agents are in the marketplace?
How many total transactions?
(25:37):
Like if you could articulate alittle bit of that data in there
as well, how much more you know?
Well, yeah, think about it.
Would that create.
The number of agents in the marketplaceversus number of compass agents,
you're talking about exposingprobably to 1% to they, they
have one or 1%, 2% market share.
So you're probably exposing it to oneto 2% of the whole agent population.
And we know that 70% of the buyerscome, 71% of all buyers come from a
(26:00):
cooperative agent that's probably lookingon Zillow and how they found the property.
So if you're, you're gonna limit yourself,you know, by two thirds, you know,
two thirds of the entire marketplace.
By going with that company, which one,which do you think is better for you?
Yeah, I love that.
Right?
I mean, that, I think that's importantmessage for everybody listening
in is like, you need to know thoselittle details because it tells
(26:21):
a better story and, and, and, youknow, creates more authority for you.
Being able to, um, I don't even wannasay argue, but you know, you know,
make your point of like, come on,Mr. Mrs. Seller, you guys are smart.
I know you get this.
Yep.
Right?
Little n. Uh huh.
So you would never call for this,but some companies, some companies
actually have their own portal andthey tell you it's better for them.
(26:41):
If I know I'm competing against aCompass agent, I can't say that the
Compass agent is an is an idiot.
You know, I can't talk bad about them.
That does not build trust.
So what you can say is, you know, somecomp, some companies out there actually
try to convince you that it's betterfor you to be on their private portal
and not be on MLS and be, you know,marketed to all the buyers and all the
agents that are in the marketplace.
I know you would never fall for that.
(27:02):
But that's a funny story that some,some companies are, that will try to
tell you so that they can keep yourlisting in house and hopefully sell
it themselves as opposed to trying toattract the, the, the most amount of
eyeballs to attract you the highest price.
Does that make sense?
Right.
Like that's again, now you'resaying it without saying that.
I love that dude.
I know you would never fall for that.
Yeah, I know you never,you guys are smart.
You get it.
(27:22):
You guys are smart.
If you, if if, if I didn't know youguys, you walked in my house and you
know, you, you were doing your, your,your dog and pony and you said, Al,
I know you'd never fall for that.
I'd be like,
well, shit.
That's when you see the, the wifeunder the table kick the husband.
Like that's what thatother guy said was gonna do
(27:46):
side of this.
Been hearing some.
People defending this.
Right.
And the only thing that, and thisisn't even legit, but the only one
that I'm really hearing is thisthing that sellers have the right
to market their home how they want.
You can't, you know what I'm saying?
Like they've always had the right,they can do for sale, for sale.
(28:09):
They could do, they could do a,um, you know, they can sign a
form that states they don't wantthe, the, the thing listed at all.
And that's fine.
But they should know.
The problem is, is that agentsare being taught by their office
managers to, to, to basically mm-hmm.
Lie to these sellers and tell'em this is better for them.
(28:30):
Mm-hmm.
And, and the only only entity that winsis the, is the brokerage because they
have a chance of double ending thatkeeping both sides, ensuring that if
it co brokes, it's co-broking withinwith, with two agents within the same
brokerage, not an outside brokerage, whichmakes who the mo most amount of money.
The brokerage broker, I mean, itencourages bad behavior in the industry.
(28:52):
It's not, it, it's not whatit's, it's, it's never better.
Like it's never better.
Like it's never better to not hitthe market and, and have every, and
have, you know, multitude of optionsof potential buyers, of different
financing and terms and conditions.
All make an offer at the same time.
You, you, that's when you win the most.
That's you have the best opportunity.
That's not better for the seller.
(29:14):
And, and if, if, if a company is takingthat stance and all the agents are
are saying the same thing, they'reliterally lying to their clients.
They're lying to them.
And that's not good forthis industry at all.
No, not at all.
Guys listening in.
Um, a lot of the, the, the things thatwe're talking about are all out of the
articles for Amendment over the past week.
So if you're trying to, tofollow along, you wanna go back.
(29:36):
Um, if you, you know, um, are not divingin or not, don't have a subscription
to admin, get your subscription.
Um, all the articles and thethings in the, in the information
we're talking about is in there.
The, the one on e exp comes from Bam,which is another great source now,
bam.com, a tremendous, uh, resourceto be able to go get, uh, all of
the things that we're talking about.
So.
Guys, let's move into,go to exp. Uh, hold on.
(30:00):
I had it up exp toolkit,I think is what it is.
Yeah.
Exp toolkit.com.
And you can download all of all the stufffrom exp, whether you're at exp or not.
So it's open source.
Use it at, use it at your leisure.
I love it.
Awesome.
Thanks for sharing that.
I love that.
I love that form.
I think it's so, it's so gangster.
I love it.
I love it.
(30:20):
Alright guys, let's talk about the lasttopic of, uh, discussion for today.
Um, talking about the Trump administrationmaking its case for massive CFPB job cuts.
Um, what's our thoughts here?
Less government is.
You know, it's, um, you know, we rememberwhen, when, when that came about.
(30:43):
And the, the, I believe one ofthe biggest reasons they, they
formed this new government entity.
I was actually blownaway when I saw seven.
It's got 1700 employees.
Yeah.
I mean that's, that's, we can do a wholepodcast on government waste and why.
These bureaucracies are justgrowing to be out of control.
(31:04):
1700 employees.
But it was formed to protectconsumers against predatory lending.
Lending that, you know, therewere no, no no document.
You don't gotta prove your income,you just state your income.
And there were all these wild andwacky, wild, wild west loans being
given out to people that couldn't,um, they just couldn't afford it.
(31:27):
At the end of the day, theywrote the loans anyway.
They closed these loans anyway and,and I don't know, just, just, I
don't know what the percentage was,but it was just a huge percentage.
A tsunami of loans going bad and into,into foreclosure, and they needed
an entity to step in and say, Heylook, we can't be doing these loans.
You gotta watch out.
Also.
(31:48):
The appraisal part too inflated, uh,protecting against inflated appraisals.
'cause that was the other thing thatpeople were doing, was they, the
values were going up at such a fastpace that they could get an appraisal
to say, ah, could you appraise it at,at, at, at 500,000, even though it's
only worth 400 at the, the valueswere going up so, so quickly that
(32:09):
the appraisals, the appraisers felt,well, you know, this is safe still.
And a lot of those guysgot thrown in jail too, so.
I don't think, I think that the intentionbehind the, in the entity was, was good
and ain't it always, almost always.
Um, but just like anything,it started getting bloated.
Lots of, uh, lots of waste,wasteful, you know, Hey, you get a
(32:31):
job, you get a job, you get a job.
Next thing you know, you blink.
We, we, we, we pick our head up andthere are no, those loans don't even
really, you know, exist anymore.
You don't have stated loans forthe, for the best of my knowledge.
Um, and, and now we're startingto see some more creative things,
but like an arm for instance, andnot just your traditional arm.
(32:54):
Where it might make sense to do it,where it's slowly an arm loan, like
you know, year one goes up by maybea quarter of a point, year two goes
up by another quarter of a point.
And that's just a gradual, and I likethat one better than after year three.
It goes up, you know, towhatever the L-I-B-O-R is.
And so people get into trouble.
Their mortgage payment, you, you know,it was going from, let's say it was
(33:14):
900 bucks a month to $1,500 a month.
Well all of a suddennow it's unaffordable.
Those people are gonnastart to fall behind.
For that reason.
I like that, you know, a little bit ofoversight, but it's obviously Trump comes
in as Trump does, and says, we're takingthis sucker down to 200 employees from
1700 and um, I think a judge upheld it.
(33:40):
But said, look, you have to proveto us that you could still run this
agency, um, you know, effectivelywith 200 employees versus 1700.
And, um, I have faith that theycould do it, but we'll see.
You know, I like seeingsmaller, smaller government.
I like seeing, uh, less regulation, notto the point where it starts to hurt, hurt
(34:03):
a consumer, but there is a happy mediumand I think we're going toward that.
Yeah, there's no doubt based on what we'veseen the last, you know, four months,
um, that there's probably inefficienciesin, in the, in the current structure.
So I, I would imagine, yeah.
You know, my thought just, justwith, you know, thinking, thinking
(34:23):
through kind of a, uh, a green light,yellow light red light with ai and.
Getting things in alignment, right?
Like if, if if things aren't inalignment, you ain't gonna be around.
And so, you know, immediatelywhen I start seeing this and all
the, you know, things of how, howregulation and, and put things there.
And I'm like, can AI not, not do that?
(34:45):
Can, can there not be some, youknow, can you not have 10 people
oversee it with the power of ai?
Like, that's, that's where my mind goes.
And, and I think that's, if we'renot thinking that way, if you're not
thinking about how, how am I. Youknow, in a getting in alignment, right?
And we talked about it the last fewtimes, like discipline over disruption.
What is not going to change?
(35:06):
What do I need to focuson within my control?
Where does the alignment need to be?
And like when I hear this and see this,and I'm like, well, if, if they do what
they do and they had to do it with ahundred people, how would they do it?
And it's just like, yeah, I don't know.
I just see a lot of disruption.
I see.
You know, that just doesn't makesense as we continue to move forward.
(35:28):
You know, they probably got a bunchof paper files on their desk and
they probably, you know, use a dotmatrix printer and it's probably,
yeah.
Yeah.
It is.
It's, it, it, it's really interesting.
So, um, I think, you know too, you know.
On the, on the AI conversation alittle bit, a little bit off topic.
And I was just thinking, havinga great conversation with,
(35:50):
um, an another honey badger.
Um, we'll, we'll, we'll, we'll give himthe, the honorary title, Mr. Brandon Town.
And was talking to Brandon this morningabout a lot of, um, you know, kind
of the direction and, and, and ai.
'cause it's been on his mind.
It's been on a lot of people's minds.
Um, just as you start to try to.
You know, figure things out a littlebit differently and, and how, you know,
(36:12):
there's always gotta be a better way.
And we were discussing it, you know,kinda this morning and talking about,
you know, the one thing that will not getdisrupted is, is a real community, right?
A real environment.
People that you can really lean on.
And that's, to me, that'swhat we have here, right?
That's what Honey Badger Nation is, um,is, is a real environment to really lean
(36:33):
upon each other, to be able to, to knowthat we got, you know, some, some people.
Deep in the trenches that areactually doing the work that we
can lean on and, um, you know,really pull from to, to continue to
grow and continue to move forward.
Yes, sir. So, um, Wally, Ijust got a little notification.
He sent me $25.
(36:56):
Personally, Wally, I, I think thatthe reason you sent me the $25 is
because that's just a little depositon the money you're gonna owe me
when the calves smoke the Celticsand the playoffs coming up here.
Is fine.
I'll hang on to it.
You're probably gonna owe me alittle bit more than that, but, um,
appreciate the deposit on, on that.
Lost bet.
What's up Pat?
A what's up Jason P. Jordan, my brother.
(37:18):
What's up guys?
What's up fellas?
So, um, guys, I know we're gonnacontinue rocking and rolling.
Um.
Pay attention.
Reach into, dive intoHoney badger nation.com.
Grab your swag.
Also get the nomination up.
Um, we will start to announce May willbe our first Honey Badger of the month.
Uh, we're talking about some cool, coolstuff that we wanna do to celebrate
(37:40):
the Honey Badger of the month andthrowing around some ideas what we
wanna do for a Honey Badger of the Year.
So nomination in.
That nomination linkwas just posted on mine.
We're gonna get it to you guys so youcan post it up on your wall for your
audience to listen to this, we're gonnapost it@honeybadgernation.com here.
We're gonna put that link up.
There should be by the end of the day, andwe will also put it in the Facebook group.
(38:04):
Honey Badger Nation, uh Facebook group.
We love you guys.
Appreciate you joining us today.
Yes sir. Guys, we'll see you big fire.
We'll see you later.
That's a wrap for today.
I hope you got somethingvaluable from this episode.
If you did, hit follow andvisit John Kitchens coach for
more ways we can work together.
(38:24):
See you on the next episode.
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