Secrets Behind New Home Builder Incentives Finally Revealed!

Episode Transcript
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SPEAKER_07 (00:53):
And welcome back to another episode of Key Factors
Podcast, Real Estate AF, wherethe AF stands for and finance.
And I'm your host, Mark Jones.
And today we're going to betalking about some real uh stuff
that comes up in our market thatmost people don't pipe up about.

(01:13):
But recently we had an agent, uhveteran agent that um called out
the BS for what it is.
Um so let's be real um join intothe conversation and uh let's
get started.
So I'm gonna first introduce ourguest today, and I'm gonna
introduce the first guest, uhCesar Amesqua.

SPEAKER_04 (01:36):
Beautiful.
Yeah, wow, fantastic.

SPEAKER_07 (01:38):
Nailed it.
Yes, there we go.
How you doing, brother?
I'm doing good, doing wonderful.
Thank you for having me.
Absolutely.
Uh, next guest is gonna be JoshBoggs.
Josh, how are you?

SPEAKER_01 (01:46):
Uh it's not as pretty as a name as that, but uh
yeah, I'll take it.
Yeah, so it's great to be youback on the podcast.
Love it.
Uh, you guys always kill it.
So, yes, very, very honored.

SPEAKER_07 (01:55):
Love it.
Um, Moses, Moses Thatcher, howyou doing, brother?
I'm doing good, brother.

SPEAKER_01 (01:59):
Back to be here as well, too.

SPEAKER_07 (02:00):
Electric new office.
Yes, the new dig.
So at the beginning of everyshow, I want you guys to give a
couple minutes to tell ouraudience who you are, uh, why
they should be listening to youon this discussion today.
Um, who wants to start?

SPEAKER_01 (02:16):
I guess the veteran, right?
That's a most veteran.
I think I need to get started bytwo years.
Uh, yeah, and definitely notbeauty here.
So, Josh Bloggs, owner ofExposed Homes Group, uh,
brokered here at Keller WilliamsHeritage, uh, been in the
business 20 years.
Wow.
Uh, been through it.
Uh, I think we were just talkingabout it when the market crashed
in OA.
Like we grew up in it, we wereborn with it.

(02:37):
So we're bane.
We're like, yeah, if some adapt,we were raised in this, right?
So we get it.
We're seeing a little bit ofindicators lately on some of
those things.
Uh, I started a company calledthe Tall Short Sell Guy.
And uh to date, we've done over652 short sales
pre-foreclosures.
Uh, so I think we are the numberone uh pre-foreclosure or
homeowner advocates againstforeclosure in all South Texas.

(03:00):
So it's been we've been veryblessed.
What an accomplishment.
Yep.
Amazing wife that works with me,uh, amazing partner Diana
Martinez.
She's been phenomenal.
And then we have three or twosupport staff, so as well.
So we've been very blessed andjust kicking it and just loving
San Antonio.

SPEAKER_07 (03:13):
Awesome.
Uh, you ever uh worry or have afear of somebody coming up with
the short short sale?

SPEAKER_01 (03:18):
Oh, yeah.
Well, there was a guy that wejoke about the bowl.
There was a guy named MikeFicho, rest in peace.
Love that guy.
He was a good buddy of mine.
He was short and he we'd alwaysmake jokes.
Like, I'm the tall, I'm thetall, shorts of guy.
He's the shorts.
That's awesome.

SPEAKER_06 (03:32):
All right.
Uh, who's next?

SPEAKER_03 (03:34):
Moses?
Yep.
Good.
Moses Thatcher, Thatcher RealtyGroup.
Um, brokered with Real Broker.
Um, business business for nineyears now.
Um, been privileged to know Joshfor a very long time, since like
day one when I was greeningbehind the ears.
And um, now I'm just like, we'reweeding through the business.
So like they've lived it.
Uh, this is me just survivingevery day.
You're like the guy who justshows up every day and you're
like, all right, let's do thisagain.

(03:55):
Yeah.

SPEAKER_06 (03:55):
So yeah, it's been fun.
That's awesome.
Uh Caesar, how about yourself,brother?

SPEAKER_04 (04:00):
Um Cesar Mesquas, uh broker, CA and company realtors,
uh, proudly independent, beenindependent since 2013 now.

SPEAKER_06 (04:09):
Okay.

SPEAKER_04 (04:10):
Uh, company's been open for um what is that?
12 years.
Yeah, yeah.
This this July.
Yeah.
Um, partner at New World Titlewith a bunch of great guys over
there.
You know, you've had Jeff Garzaover here.
Absolutely.
That's my problem.
Rob, you know, Mo.
Um, and um been in the business,like I said, 17 years, got my

(04:30):
license literally as the worldwas catching on fire in 2007.
Yeah.
And uh we I was raised in this,in this, in this market.
That's where we've had, youknow, very, very good years the
past couple years.
Uh obviously, COVID was I thinkI broke every record known to
man in like nine months becauseI was like, oh, is it this easy?

(04:53):
But you know, it was our firstrun.
You know, I don't think we'veever had a I never had a run.

SPEAKER_07 (04:58):
I never had a run like that before it got the
first time.

SPEAKER_04 (05:01):
And after you talk to some OGs that have been in
the business for 30 years, like,oh, that's a run.

SPEAKER_07 (05:05):
And and now I must say, me being on the lending
side, you guys on the realestate side, I've heard it since
I got into the business thatyou'd have been retired if you'd
have got in the business laterearlier on, and that concept of
well, the lenders kind of had aheyday for quite some time, then
CFPB regulations came in, put usin check, which they should

(05:26):
have.
Um, and I got in the businessafter that.
Don't know the bad habits, butthe idea of having that heyday,
it's like, well, the lenders gotto have that again, if that
makes sense.
And it was true, and it versussome made-up fictitious uh press
here, breathe on a mirror, allthat kind of stuff, get alone.

SPEAKER_04 (05:49):
I I have a friend that uh we we went to college
together and he he got intomortgage, I want to say three
years before I got into realestate, and I think in three
years, he was probably clearingfor for a solid three years, he
was probably clearing fifty tosixty thousand a month.
Yeah.
And uh it brings me back to thatscene from the big short when

(06:12):
they're meeting with uh with themortgage guys, and everything's
panicking.
Yeah, it's like it's like youknow, how when they're meeting
the two guys like are you gonnarecruiting us?
It's like we're gonna get aboat, right?
Yeah, I know he's like, I was abartender last year.
Now I own a boat.

SPEAKER_07 (06:27):
That's right.
Sounds like realtors now.
No, I'm just gonna but I guesswhat I was leading to with that
is the idea of when those typesof markets happen, and it's very
rare that it happens.
We what we saw was an influx ofrealtors and influx of lenders
jumping into our industry.
And uh me as a veteranexpertslash leader mentor, I'm

(06:55):
all for people jumping into theindustry.
But matter of fact, I think youguys said it a while ago is the
idea of being a glorified hobbyor an expensive hobby.
And I think that that is what ithas turned into, but that's
another discussion, but we canget back to that a little bit
later.
Um, the reason for thisdiscussion um was brought about

(07:18):
uh and inspired by a post thatJosh shared.
Um, and I want to kick this offwith sharing the post for our
viewers to see if that's okaywith you, Josh.

SPEAKER_01 (07:29):
Go for it.

SPEAKER_07 (07:30):
I saw it up there.
It's out there link.

SPEAKER_01 (07:33):
Let's interwebs habit, can't pull it back now.
He chose violence that rightthat's awesome.
Oh, shouldn't be lifting andposting at the same time.

SPEAKER_04 (07:46):
Quick time double pre-workout, and just said
scorched earth.

SPEAKER_07 (07:51):
Pull that up.
Okay, so uh JC, can you seewhat's on the screen?
How about that?
Okay.
So it starts with the followingpost um that he shared, and this
gentleman is talking aboutLenar.
Um, and I'll just read it realquick.

(08:13):
Lenar is the latest big builderto sign uh signal that they
can't afford to keep massiveincentives.
Here's what that means for youand your clients.
Last quarter, Lenar, one of thenation's biggest home builders,
spent 14.3% of their sales priceon buyers' incentives just to
keep the deals moving.
That means on a$450,000 home,they're giving away$64,350 in

(08:37):
discounts, buy down of mortgagerates, concessions, etc.
Their CEO just said they can'tkeep it up after hitting their
lowest margin since 2009, rightafter that crash.
Um Lenar just told theirstockholders that they're
pulling back on incentives intheir latest quarterly report

(08:57):
translation.
The era of huge builderconcessions may be ending.
If Lenar is saying that they'recutting back, expect all the big
builders, DR, Poulti, etc., todo the same.
Why it matters to you as anagent, less leverage for buyers.
Don't assume today's incentiveswill still be there in a few
months, higher out-of-pocketcosts ahead.
If builders tighten up, buyersmay need to rely more on you and

(09:23):
us to structure creativefinancing solutions.
Urgency in uh is back.
Buyers sitting on the sidelinesmight miss the window where
builders are practically givingaway money.
Bottom line, now that it's timeto reach out to your clients,
let them know that builders'generosity won't last forever.
Also, show them how VA, FHA, andconventional loan structure can

(09:45):
help them secure the right homebefore those incentives dry up.
Um, now this was a post.
Let me go to yours if you don'tmind.
Let's see here, Josh.
Boom.
Let's go.
Bang, bang, bang.
And Josh posts a lot just like Igot it.

(10:07):
Yeah, yeah.

SPEAKER_01 (10:08):
We must go through those.
Hell's Indian.
Need to bring that up, actually.

SPEAKER_07 (10:14):
Doot doot doot.
There we go.
Boom, boom, boom.
Right.
Is that it?
Was that it?
Yeah, that's the one.

SPEAKER_01 (10:21):
That's it.
Josh, can you see it from there?
Barely.
Man, I got bad eyes, bro.
I've had so much surgery.
So it's been it's been rowdy.
I guess.
I don't know.
Does it oh it does it need to beplugged in?
Yeah, well, me.

SPEAKER_07 (10:34):
It's need to stay plugged in if possible.

SPEAKER_01 (10:36):
I don't know.

SPEAKER_04 (10:37):
I can move my mic here.
Yeah.
By the way, as just justthrowing it out there.
Has anybody ever seen Josh withglasses?

SPEAKER_01 (10:42):
No.
Yeah.
I hide it very well, guys, bythe way.
Yes.
Really?
Caesar, I hide it very well.
I actually have glasses at nightbecause I can't even drive at
night without glasses now.
It's bad.
So yeah.
The age, the the rest ofhumanity calls them binoculars.
Yeah, guys, I've I've beenaccident prone, right?
I lost retinas, I had retinadamage.
So yeah, it's it's been ajourney.
So I feel like uh but he's stillstanding.

(11:04):
Yeah, right.
Exactly.
I feel like you guys set me upto to stab myself here in front
of you guys on this.
But uh so basically what I waswant to say too, because I can
do that.
Thank you so much.
Yeah, sorry.
Sorry, guys.
No, you're good.
What I want to improve before Isay that is actually I was
actually appreciative of PJ'spost.
I was not torching him at all.

(11:26):
So I hope anybody that saw thator thought that, because I
didn't think that.
I thought, oh man, I'm sharinghis post to ramp up what I
wanted to say.
So here was my post.
Over the last eight months, I'vewatched so many realtors brag
about all these new home salesthey have been doing, and that
they even bought their theirclients big closing gifts.
Well, here's the skinny beyondall the stuff that you won't
hear from most.

(11:46):
On new builds, like some of theones mentioned here, they were
offering up to six percentcommission to the agents on top
of buying down interest rates,all to inflate sales prices,
even during a downturn market.
What that has meant for so manyof y'all rushing to meet the
with these realtors, they saythey can offer these incredible
values is that they have beenputting you into a negative

(12:06):
equity situation for the nextfive to seven years.
Yes, hear that again.
Dot dot dot, five to sevenyears.
Don't believe me say in the lastin the last 24 months, we've had
more homeowners come to us tosave them from foreclosure
because they bought brand new.
Their agent made out like abandit and did basically very
little work and didn't warn themthat the interest rates were
only buy down rates or couldchange for a few years and then

(12:27):
adjusted back along with higherrates and higher insurance
premiums, coupled with the factthat the builder is still
building and can offer 45K ofincentives on new builds on a
$240,000 price home.
Yes, it's happening and youcan't compete at all to sell or
even rent it out.
So, what has fascinated me inthis business for 20 years is
that when I see buyers justflock in droves to realtors that

(12:49):
are on social media postingabout the$800 closing gifts they
just got to clients when theyjust made a whopping$22,000
commission check off them.
This is not only puts theseclients in incredibly tough
situations to be a high owner tobe a homeowner in the long run,
but also highly encourages theuse of non of no negotiations,
no market data or interpretationof the data and even little to
zero contract work done.

(13:10):
Yes, the on-site sales officesdo this for the realtor as well.
At the end of the day, if thissounds like a rant, it is.
And I know some may wildlyoppose his view, and so I'd love
to hear from those agents.
Not all saying that, not at allsaying that all that there still
is isn't a lot of supportingwork and assistance on
experience, and an experiencedagent can provide in dealing

(13:32):
with the new build.
Not at all.
What I'm saying is before youallow the bright and uh bright
and flashy signing objects, somehang in front of you, get the
homework done and research firstto understand just what is all
going into your home purchaseand know that you're in game or
know you're in game before goingin.
That's key.
Brant over.
Very key.

SPEAKER_07 (13:53):
No, thank you for that.
Uh and I want to giveperspective to that, uh, or to
this whole conversation, andthat's what kicked this off.
And the last thing is justshowing the comments and and
notice.
Uh I see a trend when I look atthese comments.
Um, and I'm just I'm not gonnamention the comments, I'm just

(14:14):
going to see if there's a trendthat is noticed.
I'm noticing the ones that arecommenting positively and saying
yes, good job, correct, all thatgood stuff, are all veterans in
the business.
Yeah, they were all veteransthat have their business
secured, maybe they've had toughtimes, etc.
But they are still ones that uhabide by their fiduciary

(14:38):
responsibility of their client.
So uh you can kill that, JC.
I just wanted to uh give lightto that as we open the floor up
in the first question Do youguys believe that this is it
shame on builder for doing this?

(15:00):
Shame on realtor, shame on both,or um what what what do you
believe there?
Because there's no real rightanswer here.
So just just to be clear, Sessa,give me 100%.

SPEAKER_04 (15:14):
I am 100% pro builder.
Okay, I love doing new homes.
We represent a builder here intown.
Uh shout out to Starlight Homes.
Um and we this is not you know,against bash the builder.
Don't bash the builder, they'rea business, they're trying to
stay open.
We all remember in 2008, uh,who's ever seen a Connell Baron

(15:36):
home?
You know, who's ever seen uh uhuh what was it?
Uh new new new new craft new newleaf?
New leaf no no new leaf got introuble for different reasons.
Um did yeah, a lot of a lot ofbuilders did not survive you
know the crash, right?
And they were really goodbuilders, and they did not
survive the crash.
So I I understand what buildersare doing.
Builders are just trying tosurvive, right?

(15:58):
Some of them I've done I've donea deal with a very, very great,
amazing builder that I love.
And and at the end of the day,the the sales rep said, hey, you
know, we made a thousand dollarson this on a seven hundred
thousand dollar home.
We made a thousand bucks, dude.
Like you you beat us up, butwe're just trying to keep the
doors open.
So it's not it's not builders,you know, being mean builder.

(16:21):
Um it's my issue is like yousaid, we have fiduciary duty.
Every time we go to every timewe go to a builder, every time I
need to know the cash value.
What's the cash price?
Give me the cash price.
That I'm so glad that youmentioned that.
Give me the cash price.
What is the cash price?
I I all my all my people thatbuy a brand new home know their

(16:43):
cash price.
That means no incentives, no buydowns, no nothing.
What does that look like for foryour for your community?
And we work with many buildershere in town, and it's it's
simple.
You just have to inform yourpeople what they're getting
themselves into and that they'rein it for the long haul.

(17:04):
You know, I I I I I I pulled apost.
I was doing some research lastnight, and I pulled a post from
an agent, and uh I'm I'm gonnaread it for Josh.

SPEAKER_07 (17:13):
If you don't want to uh take a screenshot or
something and share it to me, Ican throw it up on the screen.

SPEAKER_04 (17:17):
No, no, no, no.
I don't want to because it's avery uh no, I don't want to put
them on a blast.
I don't want to start.
I'm going on blast.
I don't want to start.

SPEAKER_06 (17:26):
So you know for a good cause.
Yeah.

SPEAKER_04 (17:29):
So it's an agent, you know, dancing in front of a
house.

SPEAKER_06 (17:32):
Uh huh.
Okay.
And we we talked about this uhtwo two episodes ago.

SPEAKER_04 (17:36):
Yeah, it's an agent dancing in front of a house, you
know, happy.
Um, and says, you know, hey,anybody PCSing soon?
Go go to Josh right now, go tohis face, okay?
All right, buy downs, allappliances, 3.99% interest rate,
uh, ready to start your homejourney.

(17:57):
Give me a call.
We can get you all the deals.
Um, this is this is going, andthis has a ridiculous amount of
views.
Yeah, um, it's I mean, PCSing.
What are we looking at?

SPEAKER_01 (18:10):
Temporary, how many years?
I'm already sick.
I yeah.

SPEAKER_07 (18:14):
Well, it it has multi-layers, and I'm about to
go to Josh, but there's one thatprobably won't be discussed that
I'll give light to, and and agood buddy of mine, John Hudson,
talk about it all the time isseeing sales counselors,
realtors posting about interestrates, posting about different

(18:34):
programs, and not actually beinglicensed to do so.
And they're getting a ton ofexposure for it, and it hurts
everyone in the transaction.
Your lender that they actuallygo to, the expectations of the
buyer when they get the realdeal.
I mean, all of these things.
But go go for it, Josh.

SPEAKER_01 (18:52):
Well, you just started it up, and I mean, uh I
love it.
So here's the issue.
I'm a very strong proponent forour military.
I'm gonna defend them everythingI could.
I did not get to sign on thedotted line.
Uh, so because of that, a lot ofmy family did.
I'm always really there tosupport them our military first
and foremost.
And since we're military USA, wehave most of the military here,
right?
And that's a lot of the clientsI see in front of me now on the

(19:14):
pre-foreclosure side becausethey still are active duty.
You can still get PCS'd out.
And when they're buying newbuilds with all of these
incentives and these realtorsbragged about all this cool shit
they could give them, and theysee the flashy object again.
That's what my post is about.
They just jump right into it.
They don't understand their endgame, they don't understand that
their rental their rentalpossibilities are gone because

(19:36):
they got to subsidize a thousandtwelve hundred dollars a month
just for the rental side now.
Yeah, and then they move over,they're like, Well, I guess I'm
gonna have to stuck this and beon base, and I can't even still
afford to cover the subsidizedrent on this one.
So, what am I gonna do?
Guess what?
It's coming back to the to usand now the VA, and a lot of us
we can't save some of the too,right?
The VA is just like, look, man,you know, it is too too much,

(19:58):
too much.
And you gotta have buyers, andat the end of the day, you can't
get buyers if new home sales arestill kicking everybody's butt.
True, right?
So I'm glad you said thatbecause I want you guys to
everybody to put me on stand.
I am not anti-builder either.
Let me make sure that I'm veryclear with that.
Right.
And again, my post, I'm I very Iknow I'm very uh guilty
sometimes of just going all outand not covering everything

(20:21):
because I don't really try tosugarcoat it sometimes.
But yeah, new builds are arethey're trying to stay in
business well and they're tryingto do things well.
Look, there was a builder we allknow, and we all know who that
was.
As soon as COVID hit and themarket was good, they cut all
real estate commissions, theywere screwing realtors over left
and right.
All the realtors were bitchingbehind the scenes to the
clients, like, oh, I'm not gonnaever push a client, blah, blah,

(20:41):
blah.
And then you watch them do that,and all of a sudden the builders
just flip a switch, like, oh,well, now we're gonna 4%
incentive.
Yeah, six percent incentive, andlike, oh, they're amazing.
I came back.
Right.
We are so back, yeah, guys.
And I I I just you know, I callmy company Exposed Homes for a
reason.
And I know all three of us, I'mwell, I'm all four of us, we're
just so amazing to sit togetherbecause we all know we have the

(21:04):
same ethics and the same moralswhen we run our business.
But I tell people I'm gonnaexpose them to all the options
and explain to them the pros andcons, right?
Because if I'm just a rah-rahguy behind anybody that I get
behind, then I'm going to screwsomebody because I didn't look
at all the options for them.
Right.
You'll be blindsided.
And and with that post, like yousaid, the the experienced agents
were the most ones to comment.
And you're right, they gotbehind behind it.

(21:25):
And and and Moses and I werejoking too.
We're like, man, we don't wantto sound like the old guys in
the room, like, oh, youwhippers, snappers, or dancing,
and getting these.
But it the market has changedbecause there's not a lot of
knowledge and experience, justlike you talked about how agents
are throwing interest rates andall these buyer lender
incentives when they don't evenknow what they're talking about
or they're licensed to do so.
And yet nobody's smacking themon the hands say, Hey, you can't

(21:47):
do that, you're gonna get fined.
So everybody's just the wild,wild west.
Let me go on TikTok and dancewith it, some some music, and I
get 300,000 views.
Yeah, and now I've got 10clients because of my TikTok.

SPEAKER_07 (21:57):
Yeah, and it's almost as if they're waving it
in your face, like I'm doingsomething that I shouldn't be
doing, but look at get mebusiness, yeah.

SPEAKER_04 (22:04):
Um, but she's dancing.

SPEAKER_07 (22:06):
How do you say you're dancing?
She's cute, right?
She's dancing around.

SPEAKER_03 (22:13):
I know.

SPEAKER_07 (22:14):
Um on on and I'll let you jump in, but I want
people to understand the conceptof what the builder's doing
before we move forward, and inthe sense that it is it
unethical.
I don't believe so.
I think it's an opportunity thatis afforded to them because what
they are taking the risk on inbuilding out an entire

(22:35):
neighborhood, having controlover that entire neighborhood
and the values.
Is it wrong, right, indifferent?
Well, it they're the ones thattook the risk to buy that
neighborhood, to develop thatland, et cetera, et cetera.
I'm going to compare it to everypre-owned deal that we do that
the buyer doesn't have enoughclosing cost, and we raise the

(22:55):
sales price.
We just happen to only be ableto raise the sales price so much
because that neighborhood'salready established with the
comparables.
Whereas new construction, well,that one appraised for$350.
Let's try for$355 this time.
Boom, we got it, and it'sgradually being raised.
And they've matter of fact, ifthey didn't appraise, no one

(23:18):
could move forward technically,you know?

SPEAKER_03 (23:21):
Go for it.
When it comes down to it, it'shard conversations that are not
being had.
Yeah, it's we gotta offer somesort of uh value to what we do,
and the value is kind of goingout the window in my eyes.
And this is I'm pro doing whatworks for my client.
So would I have to have aconversation with I've got my
sister in a in a Lenar home?

(23:42):
I'm not fond of it, of the ofthe builder, because of so we've
we've all know it.
But it checked the boxes for mysister and it fit her budget.
Yeah, and that was pretty muchher only option.
But that's a conversation youhave to have.
Hey, here's the pros and cons ofthis.
And so getting like instead offinding the easiest way or like,

(24:02):
hey, that this is the let'sfollow the bright lights, talk
to your clients and have thisconversation.
The last three deals that I'vedone are all pre-owned.
Reeve gotten$9,000 in closingcosts off,$12,000,$14,000, all
the additional money we use tobuy down closing costs.
Right.
And you're going into instantequity.
But are you having thatconversation because I don't
want to show 12 houses?

(24:24):
Or is it easier because I couldgo up to 11 and get you into a
house to hand them off to walkyou into then you brag about it.
Right.
The the sales could let thesales consultant just don't mess
up the deal, and the salesconsultant will car sells you.
And which is you're good at ifyou're good at it, you're good
at it.
So it's not a bad thing.
The problem is, I believe you'renot having the conversations

(24:45):
because we get those phone callswhich you've touched base on.
It's just you got to know whatproduct fits your buyer and what
their end game is.
Because you know, you tell yourclients you live in your first
house from five to seven years,you outgrow it, your family
changes, your income situationchanges.
You may need to just move thecity.
Right.
Then you just, hey, let me cashout on this equity and go.
You can't have that conversationwith someone who's going into a

(25:07):
new home build right now, right?
Which is not bad, but you got tolet them know, like, hey, what
you're not gonna be gainingequity because the same floor
plan you just bought is beingsold four streets over a year
later for$30,000 less than whatyou bought it for.
Yeah.
That's a hard pill to swallow.
Yeah.
Because you got I teach clients,we all do, purchasing your first

(25:27):
house is one of the biggestinvestments, obviously, you're
gonna make, but also one of thebest investments is you're gonna
make.
As long as you don't run yourhouse to the ground, it's gonna
gain equity.
Yeah.
And it's not happening, it's nothappening with new home builds
as as fast as quickly as fast aswe would used to.

SPEAKER_07 (25:42):
And and I guess I'd like to go over that to tone in
on that concept because thereare still folks out there that
don't get that, and that's okay,but the idea of why it takes a
little bit longer for the newconstruction home to catch up to
what the true value of themarket is.
Does anybody want to jump in onthat?

SPEAKER_04 (26:01):
Let's go into the X's and O's of it at a at a
fifth grade level.

SPEAKER_07 (26:04):
Yes, in the sand, baby.

SPEAKER_04 (26:06):
Yes.
So Builder A offers a housethat's worth$300,000, right?
Uh, but sadly, because of theeconomy, because of interest
rates, we're we're in a we're ina payment economy.

SPEAKER_08 (26:21):
Yeah.

SPEAKER_04 (26:21):
Which what can you afford per month?
Back in the day, you know, yougot your buyers, I'm
pre-qualified for$300,000.
Let's go shop for$300,000.
But$300,000 over by UTSA iscompletely different than if you
go on on Tally Road or 211.
Those$300,000 can get you a lotmore house.
Absolutely.
They can get you a great paymentand everything brand new.

(26:43):
One year bumper to bumper,two-year mechanical, ten-year
structural.
It's fantastic.
You know, so it just depends onthe goals for for that uh for
that buyer.
Uh, but we are in a paymenteconomy.
They need to have uh a certainpayment per month, and they're
tired of living in theapartment, they're tired of
living in the rental, they'retired of living in in the first

(27:06):
home, you know, that they havethat they've outgrown.
So what what is our option?
Like we we can't take them to abigger house over in 78249.

SPEAKER_07 (27:15):
And and I would actually go as far, and and this
isn't to contradict what you'resaying, but to clarify, we've
always been a payment economy.
This is America where we live oncredit, we live on the next uh
budget, the next month to month.
We've got 80% of Americans thatmaybe have two months of savings
together.
Yeah.

(27:35):
Um and that concept in itself itit I'm not like I said, I don't
want to contradict what you'resaying because you are right.
It's all it's just the abilityto achieve that payment has uh
uh been a lot tougher.
And I think the idea of how wecontinue is to educate, but I

(27:56):
think it starts with theeducators first, then moving on
to what they're educating on.
I mean, you yourself, if you'vejumped in the business 2021, you
sold a bunch of houses, now it'slike, holy cow, I'm trying to
figure it out.
Oh, new homes, new homes, I cankeep paying my bills because of
new homes.

(28:17):
Do you really even have the timeto understand, comprehend, wrap
your head around the idea ofhaving that conversation with
your client?

SPEAKER_04 (28:25):
I don't think a lot of agents do.
You know, it's it's simple, youknow, it's worth$300,000.
The financing is gonna cost youX.
Yep.
Obviously, the builder alreadystarted working on uh, you know,
starting a community, it's it'sa big risk because you have to
establish the values with allthe incentives that you're
giving.
Uh at 3.99 will run you what$18,000 right now, plus closing

(28:50):
costs.
You're looking at another$8,000.
So that's what uh$26,000.
Something, yeah.
$26,000 plus a title policy.
So that that$300,000 home is nowhaving to be priced at you know
$326,000 to$330 uh to cover foreverything.
And then they're throwing in therefrigerator, the washer, the
dryer, the blinds.
So, you know, but they establishthat neighborhood.

(29:13):
And once it's established, youknow, appraisers come around and
they see, okay, there'scomparable sales, that's great.
But at the end of the day, it'sstill a$300,000 home.
Now that's not a bad thing ifyou explain to your client this
is a$300,000 home, but yourfinancing is gonna cost you X
amount of dollars.
And for the market to catch upto you at that$326, five to

(29:35):
seven years.
You have to be here five toseven years.
If if if you if life changes,uh, if you're PCSing and you're
gonna be here for three years,walk out.
This is not for you.
You know, I've put I've putmilitary in rentals this year.
But you're gonna lose a client.
The yeah, but I mean the F word,man, fiduciary.

(29:56):
I mean, Both of them, I mean, Ican use them in conjunction, but
it's you have to be a fiduciarywhether you get the commission
or not.
Now, as far as the market goeswith the agents that we have, I
think we have about 1800 to2,000 agents holding up our
market, holding up our wholemarket.

(30:17):
Okay.
Go into Brokermetrics and do alittle bit of research, and
you're gonna be shocked at howmany agents have either one or
zero transactions.
I'm not sure.

SPEAKER_01 (30:25):
No, no, I'm not shocked.

SPEAKER_04 (30:26):
Yeah, and and it's it's we're we're you know,
there's about 1800 to 2000agents that that that are
holding up the whole market ofthe seventh largest city in
America.
Now, a lot of them, yes, theystarted in 2020, 2021, 2022, and
dollars are falling from thesky.
And it's a cycle.
This is part, this is part ofthe cycle.
I'm sure back in 05, 06, 07, youknow, there was a lot of builder

(30:50):
action.
Yeah, you know, I I got an 08.
I didn't show a brand new homeuntil 2011.
Oh wow.
Okay, because it was it wastough to sell.
It was tough to sell becausethere were so many deals.
Uh we had interest rates in thefours.
Um, there's so many deals,interest rate in the fours,
insurance was still manageable,and you wouldn't even bother to

(31:13):
to go into a to into a newbuild, and unless the client
requested it, but you wouldn'teven think about it.
But now we are we're up to thatpoint where the agents don't
have the skill set to go andstructure a good financing deal,
to go and shop, to go and andtry to find something for for
that particular client.
Like you said, you just go up to11, hand them off to you know,

(31:37):
one of your favorite sales reps,and just kind of watch on the
sidelines and boom, six percentcommission.
And that's the part that's whywe're here because there's so
many people on social mediamaking it seem like it's cool to
do that.
Sexy, yeah, sexy, and you haveall these gifts and the flat

(31:58):
screen, so one person giving outcash, straight out cash.
You're a lender.
Tell me how legal is that to getit zero legal.
I mean zero legal I mean hundreddollar bills on camera, shaved,
you know, like here you go.
And yes, I as a broker, as abroker, I was I've been a broker
since I was 29.
I'm I'm just like pulling myhair out.

(32:18):
I'm like, who's supervising thisperson?
Right, you know, and again, nothating on the hustle.
I'm not okay.
You gotta hustle, you gotta dowhat you gotta do, you gotta pay
your bills.
But at the same time, if you'rescrewing people over, come on.

SPEAKER_01 (32:31):
Well, Mark, I gotta add to this because you just
mentioned the F-word, FridayShare, but he was doing the
math, yes, he's just doing themath.
I appreciate it, but there'salso a key word quality.
You are grossly taking awayquality when you're having to
cut costs that much.
He just brought it up, madeperfect sense.
If a builder has$28,000 ofclosing costs just to get the

(32:51):
damn house sold, and then theygot to go through and buy and
build the damn thing and developeverything, then where are they
cutting that cost?
Right.
And that's the conversation youhave to have your clients
because but but you you know,back when I started too,
builders weren't cutting nearlythose kind of qualities.
There was one that did, and weall knew that and they were
gone, field stone.
They showed up as a box, it wasa freaking insulated box, and it

(33:12):
was shit junk.
And I kept telling everybodyLGI.
I mean, I I don't mind, I don'tcare they hate me, and I don't
sell them.

SPEAKER_04 (33:18):
So I've never sold an LGI home in my career.
I'm proud to say that.

SPEAKER_01 (33:22):
I think we know that.
I think we know why, right?
And and so, but what I'm gettingat is there's even builders that
I won't mention that I know werereally good that I know the
contract managers that arehaving the corporate guys are
like, hey, you need to cut themdown to 15% on all contractors.
They get them done and then theyjust came back again.
Said, guess what?
Now you need another 10%.
25% of their cost, how are thoseguys going to do it?

(33:45):
Right now electricians usingcopper clad.
Yeah, I don't know if anybodytalks about that.
Copper clad, what is that?
It's aluminum wire and justsurrounded by a little bit of
copper just to say it's stillcopper.
Wow.
But it it when you bend it acouple of times, it breaks.
Aluminum wire is very brittle.
Wow.
I know this because I talked tothe contractors.
So again, I know we're here totalk about you know why we bring

(34:07):
such great value to our clients,but these realtors don't even
know what goes into building ahome when they're out there,
like Caesar said, talking,showing dollar signs.
At the end of the day, theconsumer is just like just
walking, just blind, like, uh,that looks good.
We'll just go with this.
But they have no idea what'sgoing on behind the scenes to
get that.

SPEAKER_03 (34:24):
Right.
It's conversations, man.
Like you free basically branchedoff of what you didn't.
What what year do we have the umbroker-to-broker agreement?
Two years was already a year anda half.
Now we're almost second year.
Second year.

SPEAKER_01 (34:37):
Yeah.

SPEAKER_03 (34:38):
Mind blown is negotiating.
Um commissions have beennegotiable since day one.
Yeah.
And you know why we got sued?
Is because no realtor wastalking to their sellers about
it.
Yeah.
Everything's negotiable.
When you tell you it's noteveryone's writing six percent
down, and hey, you got to paythe buyer, you gotta pay the
seller, or whatever it may be.
We're not having conversations,and then like and all of a
sudden the world's burning,like, oh my god, now the buyers

(34:59):
like sellers are not gonna paycommission now because they
don't they don't have to, likenews flash, they never had to.
Like it, you now you got tobring value to it, but you've
had to bring value since dayone.
And it branches off what yousaid is we're not having
conversations about what you tohow the quality of the house is
built, to what's your end gameof how much this is gonna cost
you or what it's gonna be, butit's bringing value to what we

(35:23):
do.
One day we're gonna run into abuzz like we're gonna start
getting slaps on the hands, andit's gonna suck because people
are we're talking about interestrates, we're talking that we're
giving money away and we'reflaunting it now.

SPEAKER_07 (35:36):
Um that I think that's what kills it the most is
that well, look what happenedthe last time you guys got
caught up in flaunting it, so tospeak.

SPEAKER_03 (35:43):
Yeah, they cut y'all's commissions real quick,
and that's what and then and sowhen people like we had into
we've had to have meetings, wehad to roll out the new
broker-to-broker agreements, andeveryone's like, 'What are we
gonna do?' You think everyone,all the buyers are gonna, no
one's gonna want to sell.
Sellers still need to sell theirhouse, right?
That's right.
But the problem is, I'm like,man, we're having this
conversation, like, we haven'tbeen doing this since day one,

(36:04):
since I've been in the business,and since y'all been in the
business, nothing's likenothing's we didn't reinvent the
will.
You just got to have thoseconversations with your sellers
and say, Hey, but we're nothaving those conversations.
We're just we're door openers,we're glorified door openers.

SPEAKER_07 (36:16):
That's what it seems to have become if we're having
this conversation.
Absolutely.
Does that make sense?

SPEAKER_03 (36:22):
No, absolutely.
So that's what it looks like.
So people see this like, oh, Icould I could do that.
Yes.
But then when it comes down tolike what value do you bring to
the table, other than hey, Ihave a really good friend who
sells for this community and soforth, then the the
conversations aren't there, andthat's where it comes, where it
looks like we lack any sort oflike we could be you could trip
over in 2021, you got in thebusiness, yeah, you could be the

(36:43):
dumbest person in the world, andyou could trip over and you're
gonna land on three deals.
Yeah, and now it's starting.

SPEAKER_06 (36:48):
Yes, and now it's starting.

SPEAKER_03 (36:49):
What I do love about this market is it's not it's not
fun.
It's it hasn't been fun for us,but we've been around still, so
we weeded through it.
But it is absolutely weeding outthe hobbies, yeah.
Like it's if you're you actuallyit's gonna get to the point
where you gotta actually knowwhat the hell you're talking
about, and not based off of yourclick, how many clicks you have,
but actually what you'reactually bringing to the table.

SPEAKER_07 (37:08):
And and Cesata, you mentioned cycle, cyclical type
concept.
And I believe now that you justsaid that, that this is another
cycle of the hobbyists get outfor a little while and let the
market heat up again.
And we unfortunately will havethe same issue of new agents or

(37:28):
unexperienced agents coming backto the market when it heats up
again, and we'll be having thissame conversation instead of
being builders, it'll be aboutsomething else.

SPEAKER_03 (37:38):
And that's one of my transactions.
I'll never call another agentout just because we're all like
it's we're all trying tosurvive, like Sasad mentioned.
Re um one of my listings uh soldfor 650,000.
The agent very much made it veryclear to me, I don't do this all
the time.
And can you help me do thiscontract?
And in my head, I'm like, howdid you lend a$650,000 eight

(38:02):
client the same way we justtalked about it?
And I'm now thinking, I waslike, I'm about to eat your
lunch.
Yeah, and it was that house wasa beautiful house, but I knew
for a fact, like, hey man, likewe got to keep your dropping the
price because there is somedeficiencies, and she hey, I
just really want this house toclose.
My clients like it.
It looks everything's throughvirtual, so they're out of they
have no clue, no clue.

(38:22):
I know I'm just like, get yourinspection.

SPEAKER_07 (38:24):
They have no clue that she has no clue, exactly.

SPEAKER_03 (38:27):
And then so she is very gladly took the the sixteen
thousand dollar commission offit, and I was happy because I
was like, hey man, we were stilllike forty thousand dollar price
improvement in the futurebecause we're just we know for
sure we need to move this, butthere's some deficiencies.
But she and I'm I'm kudos to herfor having the client.
I'm glad she was able to makethe money, and like I'm happy

(38:47):
for her.

SPEAKER_07 (38:48):
So that leads me to another question, and it's a
little side topic, but relevant,still the same.
The idea, and I call it pencilwhipping when you're on the
other end of a transaction andthe other person either doesn't
catch something, doesn't go overit with their client, what have
you, and just moves forwardexperience versus unexperience,
even an experienced agent canget a pencil whipped if they're

(39:10):
not paying attention concept.
I'm not saying it's a good, badthing, it's just a thing.
In those cases, do you thinkthat that is unethical to pencil
whip another agent?
And what I mean by that is no,let's say I'm on the the buy
side, and I already love theanswers.

(39:32):
I'm on the buy side, I'mrepresenting my buyer, I'm I'm
writing an offer to a seller.
I put the contract together, andon the third party financing, I
put 32 days for their thirdparty financing period.
They don't catch it day beforeclosing, they're like, we don't
qualify.
Poop, give me that earnestmoney.

SPEAKER_03 (39:48):
Yeah, and this goes back to this goes back to the
first time we said down.
Be a good human still, be a goodhuman.
We're all in the same business,but I'm also not gonna hold your
hand.

SPEAKER_07 (39:57):
Ethical responsibility is fiduciary to
your customer.

SPEAKER_03 (40:00):
I'm not gonna hold your hand.
Yeah, I'm not gonna hold yourhand to it if you miss.

SPEAKER_07 (40:03):
I don't disagree with either side.
There's an extreme to bothsides.
I'm one because I'm on thelending side always, that it's
like, okay, I'm gonna help youand help you.
Let's get this out.
Let's get better.

SPEAKER_01 (40:15):
So I could make a joke here about the Kansas City
Chiefs and Mahomes, right?
But let's let's let's dosomething for a minute.
Let's play this exercise.
If they're in practice andthey're throwing the ball, let's
say Mahomes is not running hispattern or is seen his patterns,
right?
In practice, the coaches canstep up, say, hey, this is what
you need to do, blah, blah,blah.
Hey, actually, no, run it again.
Let's try it this way, right?

(40:35):
How many times do they get to dothat in the game against the
opponents?
Do you think the opponents,like, hey, you know what?
Hey, coaches, can you show momsa beat us a little bit more?
That's bullshit.
That's what I'm saying.
It's getting too much, like it'sfairness doctrine.
If you're out on thebattlefield, you that's a reason
why we have the IBS for reason.
Uh, the information about brokerservices shows that I represent
my client and my client bymyself.

(40:56):
I'm not going to give away anyof their position just because
you don't know what you'redoing.
Now, I will ex- I'll be nice.
And again, now I sound like anasshole, but I can walk them
through it gently.
But am I gonna give themsomething that's gonna give any
of my clients position away?
Hell no.
No, right?
I I think what's going on ismost agents are expecting that
happen.
And if you look at some of thebrokerages now, I know you guys

(41:17):
are not like this, but I see alot of brokers like this wildly
were uh rampant, where theseagents are in the business for
five, six years.
And guess who's writing alltheir contracts?
They're transactioncoordinators, they don't even
know what the hell they'renegotiating with.
Right.
I'm literally getting emails.
Oh, this is all we have to fillout for transaction coordinator.
Go, there's so many more termsin the contract than this.

(41:37):
What about this?
What about the survey?
What about protrudents?
Oh, we don't handle that.
We just we blankly fill thatout.
I go, screw you kidding me.
That's what I mean.

SPEAKER_07 (41:46):
You know, in contracts going, uh, I have did
y'all know we got out 30 days?
I don't care.

SPEAKER_03 (41:53):
But but like for y'all salivate.
I'm sure.
Like when I was new to theoffice and I remember like Brad
Burns and I got in together andwe're helping each other fill
out contracts, and I was like,Where do you put in sellers'
concessions?
But we were adamant, maybe it'sbecause I was cheap, but I
didn't hire a transaction coineruntil like year two because I
was like, Well, I could keepthat$300 in my pocket.
But like when if I were doing itand then receive, like I hand
you a deal and it's like halfwaythrough, like, I'm sure you'd

(42:14):
salivate at the mouth.
Like y'all would salivate at it,and then which is expected
because, like you said, likewhile like I'm here to support
my guy.

SPEAKER_07 (42:22):
But that's also how we learn.

SPEAKER_03 (42:24):
Yeah, facts.
I go.

SPEAKER_07 (42:25):
I've been unless it bites you in the ass and it
costs you something of valuethat you see valuable, whether
it's money, a client, what haveyou.
Because if not, you're justgoing through the wind thinking
you're doing it the right way.

SPEAKER_01 (42:37):
I just want to tie it in.
What I brought with the Mahomesthing, and then during the game,
that's why there's training.
That's why you have a brokerthat trains you and shows you
how to do that and you practice.
Oh, yeah.

SPEAKER_04 (42:48):
I mean, that's what I'm asking for support.
For the rest of the population,oh, yeah.

SPEAKER_01 (42:52):
Do you?
Most of them, it's numbers,right?
We know some of them that signedtheir life away to Zillow and
look what's going on there.
Yep.
I again, I there's a lot ofother things we can unpack
there, but I guess what I'mgetting at is yeah, Moses, Brad,
phenomenal agents now.
But you're right.
If you don't know, obviously yougot to learn sometime.
But there's also practice andthere's training that if your
broker should be giving thattrue, that's how you sharpen the

(43:13):
sword.
Yes, and get ready for battle.

SPEAKER_07 (43:15):
Absolutely.
And until it's game day, you'veyou've got practice.
Yeah.
You know, sometimes two a day,you gotta do it.
So to to tie this back to thebuilder thing, you mentioned
fiduciary responsibility of theagent is to your buyer, and I've
been preaching this for manyyears, um, was taught to me by
uh some solid agents, MarcusLoffy, Andy Hilger that ran uh

(43:40):
uh KB homes for a little while.
And the idea of as soon as therealtor hands their buyer over
to the sales counselor to givetheir financing incentives over
to the builder's lender, theyjust showed them all the cards.
And that is something that isdone without hesitation

(44:01):
whatsoever.
And the idea is what if yourbuyer doesn't have two nickels
to rub together?
Do you want them to know that?
What if they've got a milliondollars sitting in the bank?
Do you want them to know that?
Property comes up short onappraisal.
Well, they've got the money.

SPEAKER_03 (44:16):
I've seen it.
Yeah.
So with your world, so before abuyer takes uh a seller takes uh
an agent takes a buyer to a newhome build, how many times have
they ran the application throughyou and then took it over to a
new home build?

SPEAKER_07 (44:30):
Uh very few.
I get that information up frontand I still take the
application.
I'll do a soft inquiry, I'lleducate them on the options of
going new build versus not.
I talk to them about theincentives that they're going to
be hit with.
I uh pull the curtain oneverything.
But the idea is this money iscoming from somewhere.

(44:51):
I'm not saying that I'm doingyour realtor job or what you
guys, but it is 1000% tied tothe financing.
So that is my moment to injectthe truth into this situation.
If you still think you want todo that, no problem.
If you are pissed off at thebuilder's lender, they try and
screw you.
If they can't do the deal, comeon back.
I'll be here.

(45:12):
Okay.
It's simple.
Like I said, it's it is what itis.
I'm not going to fight over.
I tell my loan officers and havefor years, how do you lose
something that you never had?
As long as you understand theconcept of oh, they're
interested in new construction.
Oh, builder, I have theconversation, realtor has the
conversation.
So if they still move forward,then it must have been for them.

SPEAKER_04 (45:35):
You know?
Yeah, it's it's all about justagain educating, having that
conversation.
I I have a ritual, you know,whenever we go out and they tell
me, hey, I I really want to, youknow, yeah, put on the board and
and and and I asked, I asked therep, I'm like, hey, can you can
you give us five?
Can we can I borrow your house?
You know, can I just sit herefor a minute?

(45:56):
And we'll go to just randombedroom, and I'll just I just
sit on the on the carpet, and myclients are like, Why are you
sitting on the carpet?
I'm like, because this carpet iscomfortable, and I'm 44, about
to be 45.
I'll take any chance.
I already got my steps for theday.
Um and I'm glad they love that.
Sit down.
Okay.
So come join me.
Join me.
This is your yeah, we have wehave a little little kumbayas or

(46:18):
I'm like, okay, this is thedeal.
Okay, this is this is cash, thisis financed.
Um, you know, we we deal withall builders that will take care
of my clients.
Okay.
We yes, we do sell Lenar homes.
Why?
Because I I get people that comein and say, I need a$1,400
payment.
What other builder can give youthat?
Services and purpose.
It's it's either that or or weend up in a part of town that

(46:40):
they don't want to be in, uh,with a 1948 house that is
sideways and with a higherpayment, higher insurance,
higher.
I mean, at least I have you knowa little blanket of security
that they have uh you know awarranty, that that it's new,
that it's you know energyefficient.
Uh, do I agree with everythingthat they do?

(47:01):
No.
But I but I sit them down andI'm like, okay, guys, this is
your worst case scenario.
What are we planning on doingwith this?
Is this house number one, housenumber two?
You know, and I already knowthose answers, of course, but I
I try to get like, let's thinkof the future here.

SPEAKER_07 (47:15):
Well, kudos to you for that because at least you
are laying it out for them.
The idea of asking for the cashvalue of the home or the cash
price of the home, not only isit genius, but it's what you
should be doing as a realtorbroker representing your buyer.
Why?
I mean, back to Marcus and Andy,they'd walk into new and still

(47:35):
do walk into a new constructionand negotiate it just like if it
was a pre-owned home.
I'm not playing the games ofthis and that.
Are you guys wanting to sell ahome?
Because I've got a customer thatis qualified and wants to buy
it.

SPEAKER_04 (47:48):
In this in this market, if you're not
negotiating with the builder, wejust we just had one of my
agents.
Uh, there's a builder, uh, bigshout out to Meritage.
We love Meritage, we loveworking with Meritage.
Uh, they were offering a sixpercent commission.
And and my guy knows, you know,fiduciary comes first.
Right.
And he took out the sword, juststarted going at it, started

(48:08):
going at it, started going allright.
He calls me, he's like CA, hecalls me C A.
He's like, C A, um, we got himunder contract, they're very
happy.
We couldn't secure the sixpercent.
Said, I good for him.
Yeah, I'll it it it is what itis, man.
Right.
And he's like, no, no, no, but Ifeel good about it.
I feel good inside.
And this is an agent that's beenon the been in the business for

(48:29):
two years, and he's like, but Ifeel good about it.
And I said, that's what it's allabout.
Yeah, you know, because you putthose people in the best
position to win, and and yousacrificed, you know, you
sacrificed that that that threepercent bonus that you were
gonna get, and and at the end ofthe day, he's like, Man, I feel
good about it, you know, and theand they saw it, right?
That's the that's the best part.

(48:49):
The people knew that there was asix percent commission, and you
just took that sword and likestraight into the chest.
Yeah, and and and he was like,Man, I feel fit, I feel good
about it.
But you have to they have tounderstand what they're what
they're doing, and because we dothis, you know, 247, 365.
Some do.

SPEAKER_01 (49:08):
Right.
Uh yeah, yeah, yeah.
Yeah, yeah.

SPEAKER_04 (49:10):
We do the good ones.
Uh we do, but I mean they theybuy a house sometimes once in a
lifetime.
Correct.
You can't you can't talk fast,you can't, you know, you know,
short you cut corners here andthere.
You have to lay it all out sothey know exactly what they're
doing.
My job is not to sell houses.
I don't sell houses, by the way.
You know, I watch over people'smoney.

(49:31):
That's it.
I don't sell houses.
That's what I think.
Me too.
You know, I like that.
I like that.
I watch over people's money.
I don't sell loans, I just watchyour money.
If I put you in a shit house,I'm not watching over your
money.
Yeah, if I put you upside down,I'm not watching over your
money, you know.

SPEAKER_07 (49:45):
So let me ask you guys this, and and and to wrap
your point, and I love it.
What and I'm almost positivethat each one of you have that
conversation if you're dealingwith new construction and a
buyer of this is what you'regetting, this is how much it
costs, this is where the money'scome from, and this is where
it's going.
That's why the price went fromthis to this, but look at your

(50:06):
payment, etc.
What allows you guys to havethat conversation versus we know
it's not happening quite oftenwith many others?
The the ones that just go, hey,here you go, handoff, you're in
great hands.
Well, I think you know, becausemy business is almost 100%

(50:27):
referral.
And then they'll come in, andthen they'll come in and say, I
think we should get aninspection.
The the ruler that'srepresenting that hasn't been
there the whole time.
They're like, Yeah, let's get aninspection.

SPEAKER_01 (50:36):
Um, I mean, you know, following up with that
question, because reputationsare everything.
If you've got somebody that'salready respected you, has gone
through it, can trust you, andthey tell somebody, hey, Josh is
gonna bend over backwards.
And and you know when I tell mypeople, like, you know, I don't
say it that way, like, hey, I'mhere to watch over your money,
but I back my own money up withtheir transaction because at the

(50:58):
end of the day, I'm not goinganywhere.
So if I'm putting my my neck onthe line, I want you to know
that it's because I know thisand this and this, and I want
you to do that.
And so I'm there to get a clientfor life, not just a one
transaction.
So that's what I tell everybodywhen I set up now.
Say, hey guys, expose homes,legit number one.
Let's talk about how I get paid.
It's 3% commission, that's whatit is.

(51:18):
If there's a bonus involved,guess what?
You guys get the damn bonus.
I'm not here for the bonusbecause I want you guys to tell
everybody, the person, howawesome you are.
And if that's just sugar on thetop, they want to give a bonus,
great.
We just closed a new buildyesterday, same thing.
And they kept arguing with ohno, no, that's your bonus.
I said, I know I gave it to myclient that I don't need that.
Thank you.
Appreciate it.
Um, made, of course, he's gonnaa military referral, right?

(51:40):
But this is his fourth housetoo.
Yeah, he's retired.
You know, you got to knowpeople's, yeah.
So I think that it's just if youcan get a captive audience, and
nowadays with everybody wantingto quickly get text and never
have an ability to have thiskind of conversation face to
face, have some truth saidbecause we all know that if
truth's being spoken, it's gonnaget a little uncomfortable at

(52:02):
times.

SPEAKER_07 (52:03):
For sure.

SPEAKER_01 (52:03):
And you've got to be willing to put that out there
and just get them to understandlike, look, everything I say is
probably not gonna be everythingyou want to hear, but you need
me to tell you what you need tohear, not what you want to hear,
unless you tell me the opposite,right?
I'm probably not the agent foryou if you just want me to tell
you what you want to hear.
Yeah, and that's I think thatthat's it's worked out for us,
you know.
But it is hard to be honest withyou guys, it's very hard to
compete with those rotors thatare out there with the all

(52:26):
shiny, flashy object, andthere's no fiduciary because
once they get them signed, boom,it's it.
Yeah, the dancing.
I just got to get the dancing,y'all.
That's that's what it is.

SPEAKER_03 (52:35):
The joke is I was like, man, we're not selling
enough houses because we're notdoing enough TikTok dancing.
That's right.
I don't have the rhythm, man.
I'm sorry.
I'm ready to back that ass up.
I would back that ass up rightnow.
To go off of what you said, it'sjust uh it's when you even when
we were shopping pre-ownedhouses and then they did
advertise the concessions onMLS.

(52:57):
There's a lot of realtors thatsaid if you sell two percent,
one percent, they're like, I'mnot gonna take my seller or my
buyer there.
I look at it as hey man, it'seither I'm gonna if they love
this house, I'm gonna go sell itto them because that's my job,
first off, it's fiduciaryduties.
Second, is if I don't get themin this house, that means I may
have to show them another ninehouses after that.
And my time is worth more thanthe extra two thousand dollars

(53:19):
I'm missing out on.
So it just it, but people willabsolutely you see we see it all
the time is all the pages we'rein is who's got a three-bedroom,
two baths, eighteen hundredsquare foot, and who's offering
the highest uh commission.
Yeah, yeah.
And I'm like, man, dude, likeit's not because you're about to
give back that commission likeCesar's agent does, it's
because, hey, I want the fastestway to make fifteen thousand
dollars.

(53:39):
Yeah, but it's very much like ifyou do everything at the right
intentions, like you're gonnaearn a client for life.
Uh where hey, I don't care.
Like, if if it means I could getmy client in and I have to give
up two percent of my commissionor three percent of my
commission, let's do it, man.
Like, let's do it and let itlet's keep going on the next one
because you earned a client forlife.
We have a client right now thatI've I've helped them buy three
houses, I've helped their twokids buy a house.

(54:00):
Now we're in the process ofbuying another house.
And she tells me, Hey, Moses,you're like part of the family
now, and we need your opinion.
Yeah, we value your opinion.
And I love it because every timethey've Reef sold their first
house is like a 900 square foothouse in Los Angeles Heights
before is Los Angeles Heights,and now they moved into a
massive, like 3,000 square foothouse that we've just beautiful,

(54:21):
and now it's cool to see becausethey did everything that I told
them, right?
And not tell, hey, you got to dothis, but hey, you want to
invest?
Hey, you should do this, youshould do this, you should do
this.
And now they have their dreamhouse, and now their kids are
getting into their houses intheir early 20s.
I'm like, they're just doingwhat we told them to do, right?
And it makes me freaking happybecause it's cool to see it play

(54:42):
out.
Absolutely, absolutely.

SPEAKER_07 (54:44):
So to to kind of go into my last topic, um I wanna
hone in on the idea of becausebefore we had rate block buys,
essentially, the the uh builderforwards is what it is.
The builder is buying a chunk ofrates at X amount and they gotta

(55:05):
get rid of them before beforethat was happening.
We had the two and three, onebuy down, which that is a
temporary rate reduction for ayear to two years.
And the reason why I bring upthis topic is that began uh late
2022.

SPEAKER_04 (55:22):
Yes.

SPEAKER_07 (55:23):
Uh we're now in 2025, so those things are gonna
start hiking up to the secondtier, into the third tier.
Yep.
Um and we're talking onepercent.
It's a it's a we go from five tosix, six to seven.
Typically, three hundredthousand dollar house, you're
adding a hundred and fifty bucksper month to just write boom,

(55:43):
boom, boom.
Um and the idea was we'resqueezing these people into the
homes to make them affordable.
We're we're just getting throughso that eventually rates are
gonna come down, they're gonnarefinance.
Well, here we are.
Yeah, here we are.
Two years later, two and a halfyears later, rates haven't come
down as much as we thought theywere.
Um, these folks are about toincur the the next rate hike,

(56:08):
which in my opinion, based onthe builders still building, is
maybe going to lead to excessforeclosures, like maybe not as
bad as we saw before, butdefinitely something to to tell.

SPEAKER_04 (56:24):
It already is.
I mean, Josh can tell you, italready is, but I I don't know
if you all remember this twoyears ago.
What was it?
Mary the House, not oh, daterate, Marry the House.
I never I never use that line.
My line was can you stomach thepayment on month 25?
That's it.
Because that's when it kicks in,month 25.
That's right.
It's as oh, it's three, two, onebuy down, and you know, all

(56:46):
these years.
And I'm like, no, no, no, no,no.
It's month 25.
That's right.
Okay.
It's it's the the third year, itdoesn't go a full year, it's not
three years, it's month 25.
Correct.
Can you stomach this payment onmonth 25?
If the answer is yes, we'rebuying it.
That's right.
If you can't, then we gotta goback to the drawing board.
Yeah, why?
Because a lot of people wentinto and and and you know,

(57:06):
there's a builder that uh classaction lawsuit just hit uh, I
want to say two of themWednesday.
Um, because and and I don'tthink it was to it, it's not
here.
Uh, I think it started inFlorida, where they were doing
pre-qualifications,pre-approvals, and full-on
closings with um property tax aswell.

SPEAKER_03 (57:29):
With undeveloped one, unimproved.
As soon as you started talking,I was like, are we gonna talk
about the property taxes now?

SPEAKER_07 (57:36):
That is still a practice that happens too.
It's still going on in theworld.

SPEAKER_04 (57:38):
Oh, yeah, no, it's still going on, but this builder
actually just got hit with now.
Yes, so and they just got hitbecause you know, uh there's a
lot of stuff, you know, going onin that lawsuit, and I'm not
gonna say any names.
Um, but you know, it it goes toto to to say that all those

(58:00):
people that are in that lawsuit,who is representing them?
So I'm not worried about thebuilder, you know.
The builder, okay, the builderhas the pockets to figure out
what the hell is going on, yeah,because someone who needs to get
fired.
Who is representing those peoplethat walked in and said, you
know what?

(58:20):
Unimproved taxes payment, topnotch.
They sat at the closing.

SPEAKER_03 (58:24):
I don't think they're saying those words
unimproved taxes payment.
They're just telling you, hey,your payment is this thousand
dollars.

SPEAKER_07 (58:30):
But again, as an as an agent, payment shock letter
that is required on that issigned but not reviewed.

SPEAKER_03 (58:36):
Exactly.
Like, because I you're givingthem credit by saying they're
acknowledging unapprovedproperty taxes.
And how many times have you runinto it?
You run into it where peopleneed to sell within two years
because their payment justchanged by$500.

SPEAKER_06 (58:47):
Oh, yeah, they go up automatically.

SPEAKER_03 (58:49):
But you hit it right on the head with the unapproved
property taxes.

SPEAKER_04 (58:51):
Yeah, I mean, it's just how can you be the agent
across the you know at theclosing table and looking at
that payment knowing damn wellthat's not gonna be their
payment?

SPEAKER_07 (59:00):
I mean, how is but but you're not the lender.
So what what does it matter?

SPEAKER_04 (59:04):
The uh again, you know, and you're talking about
payment that they wanted.
I I uh you're you it's outsideyour is it outside your scope?

SPEAKER_07 (59:11):
It's not no no no it's not no because property
taxes have to do with theproperty, yeah.
So matter of fact, too manytimes am I the one telling the
buyer about property taxes forthe first time ever that we go,
wait a minute, hey, next timeinform them what taxes are.
I I don't allow any You almostjust killed the deal.

SPEAKER_04 (59:30):
Yeah, I don't allow any builder.
I it's the first thing we we getthem, we get them ready, they're
ready to buy, they go throughthe pre pre-approval process.
And I I tell the loan officer ithas to be what what's the tax
rate?
2.25.

SPEAKER_07 (59:43):
Okay, grab the purchase price, multiply by
2.25, and make that the you canactually do 90% of the value,
80% of the value times the taxrate, and that would be closer
to I'm gonna be uh homesteadedon this property.
Yeah.
Um, and typically that firstyear they don't.
Hit you with the full price, butat the same time, yes.

SPEAKER_04 (01:00:03):
I I go worst case scenario, always do it.
Yeah, that's some sometimes theyslip it by me, right?
And I'm at the closing table.

SPEAKER_07 (01:00:10):
And that is why the reason why they did that is
because the buyer at some pointbalked at something and they
went, Oh, solution.
Boom, we're gonna switch it tothis.
The buyer's now happy and at theclosing table, but they didn't
fully explain what's going tohappen.
Or if they did, the buyer went,okay, yeah, sounds good.
I will still lower payment by$400 the first year.

(01:00:31):
Great.
Why not?

SPEAKER_03 (01:00:32):
We ran into that with uh multiple clients, and
it's clients, friends who didn'tuse me as a realtor, they're
like, Hey, sorry, didn't useyou, but how can I protest my
property taxes?
Because my payment just changedby$500.
Hey, how can I do this?
How can I do that?
And I'm like, hey man, like,should have been known that this
is unimproved property taxes,but hey, let's try to resolve
it.
Yeah, I want to ask a questionbecause this is your world, like
numbers-wise, like how manytimes have we seen short sales

(01:00:54):
and foreclosures?
Have you seen a massiveincrease?
So, right now, this is makes ita real reality of yeah.

SPEAKER_01 (01:01:00):
Uh right now, I mean, obviously, and and this is
why I'm very thankful for thereal estate community because we
are such a small town community,almost all of ours referrals.
So I'm paying these agentsreferrals on these.
And most of them, they're like,hey man, they got in this
situation, right?
So already I was tracking itwith my assistant this morning.
So we've already had over 78short sale consultations this
year.
I've only taken on 32 of them.

(01:01:22):
So what that means is some ofthese people have already
created their own mess.
And instead of wanting to gothrough some financial help or
some counseling, because that'spart of what I do with my short
sale consultations, yeah, that'swhat my fiduciary was.
Like, hey guys, maybe we can getyou out of not just letting this
thing go to default.
Maybe we can come into a rentalposition, or maybe you have
other debt that you can maybestop paying on, unsecured debt.

(01:01:42):
You know, we need to talk aboutthis.
It's financial literacy.
So we could really unpack a lothere.
But I will tell you this rightnow, um, our foreclosure rates
in Bear County, if you track theforeclosure sales, they haven't
actually been going up likeyou'd think they would.
Here's why.
And I sat in in a crowded roomin front of Freddie, uh Freddie,
uh, Freddie Mac, Fannie Mae,Freddie Mac, some of the biggest

(01:02:03):
GSEs out there.
Well, the GSEs, the servicers,right?
And this was about REOs andforeclosures coming on the
pipeline.
They're calling this month RedOctober because what they know
and we know, and we're seeingthe data because Barrack County
is one of the uh most affectedforeclosure uh counties in all
Texas right now, if you guysdidn't know that.
So we're up almost 13% onpre-foreclosure data coming

(01:02:24):
through.
And what that shows to us iswhat was going on during COVID
and then when the market wentcrazy.
The lenders were remodifyingthese two and a half, three
percent loans into seven and ahalf or seven point two five
ridiculously high.
And then, of course, the client,once that new payment kicks in,
now they really can't afford it.
So what are they doing?
They're adding it onto theirrears.

(01:02:45):
Usually, if it's an FHA loan,they're doing it through a HUD
uh variance, right?
Uh or a HUD partial claim.
And then they're just sittingthere on second lean, just
hoping the values are going up.
But guess what?
Now the values are not going up,so they're coming back down and
they are done with loanmodification options.
They don't know what to do.
And these lenders are beingforced now through all the GSEs
handing things down, FHA, VA,saying, hey guys, you guys got

(01:03:08):
to start figuring out how to getthese non-performing notes under
control.

SPEAKER_07 (01:03:11):
Yeah.
I mean, and first step to thatwas the forbearance multiple
times.
And let's face it, the reasonfor the delays is the investor,
the servicer, they don't want toown more properties, especially
ones that are not worth it.
I mean, what are they so they'regonna give all the opportunities
and these buyers they just wantout, I would imagine.

(01:03:35):
Um, so I I think we are seeing arise in foreclosures.
I think we're gonna continue.
I pulled some data real quick,JC.
If you could throw this up onthe screen.
Um let's see here.
I asked it, are foreclosuresrising?
If so, what what kind oftracking measures are you doing?
Uh, here's some data that pointsto market signals that suggest
negative negative equity risk ispresent or growing for new

(01:04:00):
buyers.
Negative equity is rising again.
Uh, one recent summary statesthe negative equity among
mortgage holders increased aboutone percent um from 0.6 percent
a year from the year prior.
Uh historically 2007 crash.
Let me see here.
Premium new construction.
Uh, the price premium that newconstructions use to command

(01:04:20):
over resale is dissolving inmany markets.
Uh, so I think that that isgoing to bring a lot of things
back, and it won't be quick, butit it's definitely going to
their homes are not going toappraise come next year, and
then it'll they'll starttapering down, if that makes
sense.
Yeah.
Um immediate depreciation riskfor new home purchases.

(01:04:43):
The buyer closes at full listplus incentives.
Then shortly after the buildercuts prices on nearby units.
Um, the buyer home is alreadydisadvantaged.
The competitor sells withundercutting their equity.
That I saw firsthand, friend ofmine in Houston.
She's buying a brand new home.
Literal, another friend that weactually know calls Kristen and

(01:05:06):
says, Hey, I want to buy thispre-owned home.
Uh one directly from the builderis selling at uh what is it,
400,000.
The used one, slightly used, ayear old, is selling$40,000
less.
Which do you pick?
Yep.
Absolutely.

SPEAKER_01 (01:05:25):
Well, I've got one right now that we're dealing
with on the pre-foreclosureside.
It's a VA deal, two of them inthe same neighborhood, both
Perry Homes.
Perry Homes still building themand closing them at$455,000.
But these homes uh got one thatappraised through the
liquidation appraisal uh at$340,or under contract at$320.
The same kind of model that'sactually inferior to the

(01:05:48):
subject, the V8 came out andsome jackass appraiser, and I
would love to say his namebecause he's a dipshit.
He's he appraised it for$455,000.
I know who it is.
Well, and so I'm arguing withthe VA right now and I'm going
way up the chain and they'reshooting back like, well, he's
provided these kids and comps.
I go, guys, if I produced compsthat only showed new builds when

(01:06:10):
this is a three-year home, I'msorry.
What what origination purchasesare allowed to use new builds
for three year old homes?
Do you guys know any?
Because I don't.
No.
And and they are all justrejecting the data, and it's
like nobody's paying attentionto what's going on at the
baseline.
That's right.
Right.
And so we're having theseconversations now with these new
executives because I used tohave really good context and I

(01:06:31):
went to Dallas and go, wait,word so and so go, oh, they're
gone.
Yeah, this, right?
So a lot of people change.
Wow.
So what's going on now?
If you ask me on that, we'llnever have an 08 crash.
Let's just get that out of theway, guys.
That was a whole nightmarecreated by derivatives, you
know, uh market, uh, you know,Wall Street versus going on to
Main Street.
But what we have now is thatwe've been kicking the can down

(01:06:52):
the road for too many homeownersthat were having issues, they
got in the negative equitiesequity situations.
New builds are one of thembecause of this reason.
Right.
And now they're like, okay,we've done everything else we
can to put band-aids on butband-aids, but yet the waters
are still coming legal.
What do we do?
Yeah, and that's where that'swhere we're at right now.

SPEAKER_07 (01:07:09):
Man, good good point.
Well, uh, guys, we've nowreached a little over an hour.
Pretty good discussion that wehave here.
Um, as we close this out, whowants to add something to the
end of this conversation?
Anything that would help therealtor, buyer, because we can't
speak for the builders, we couldsay what we want, they're not

(01:07:30):
gonna listen anyway.

SPEAKER_01 (01:07:32):
Well, I actually wore a jersey to show something
very supportive of what's goingon.
So, Project Marvel helping SanAntonio and all of us needs to
happen.
I just really believe it.
I was in Indy this weekend.
If you guys haven't been inIndianapolis, their city kicks
our ass in so many levels.
I'm like, why?
We like they're way down thelist.
We're seventh in the nation, andyet we can't figure all this

(01:07:54):
out.
We need to have an urbandevelopment like we've never had
before.
So I would say that's number onethat would help all of us.
Let's just say that for the SanAntonio markets.

SPEAKER_04 (01:08:01):
Vote vote, yes, please vote, yes.
Yes, yes.

SPEAKER_01 (01:08:04):
That's what I wanted to say about that.
But maybe you guys can add thego ahead, guys.

SPEAKER_04 (01:08:08):
So um, I I I would say for for you know any
consumers watching and realtorswatching, um, we're I don't
know.
I mean, I'm a big fan of themovie The Big Short.
Uh same here too.
And if you watch the end of it,you know, you see you you see
the cycle starting again.
You know, the realtor, you know,we're in a little goalie.

(01:08:29):
We're in a little goalie.
At the end, at the end of that,uh, you see the what do you see
the realtor doing?
The realtor's in the training.
Okay.
I think we're we're we'reover-trained and bullshit that
we don't need.
We are absolutely 100%over-trained and overcoached and
bullshit that we don't need.
Okay.
We need we need X's and O's.

(01:08:50):
We need CMAs.
We need how to write a contract,we need how to speak with
clients about hard topics thatthey need to hear, versus, you
know, how do you feel today?
You know, or you know, let's goout and win the day.
What the fuck does that mean?
Go and win the day.
Like, am I am I going to likelike pick a basketball and like

(01:09:10):
win that day or pickleball?
So we need those actual, youknow, trainings and coachings,
and we need team leaders, weneed brokers that take
responsibility for their agents.
So they're not out there acting.
We're the only profession thatwill automatically and you know,
we will, we we dilute ourselves.

(01:09:30):
Yeah, you're accepted, you'reaccepted, yeah.
We dilute ourselves because wewe allow all this to happen.
Sometimes we promote it, yeah,and we award it.
Yeah, you know, we're like, oh,you get an award because you
have so many followers onInstagram, but you suck right on
a contract.
So I I'm I'm I'm I'm old schooland I know I'm gonna get a lot
of hate for saying some of thesethings, and that's perfectly

(01:09:53):
fine.
Uh, but a great agent needs toknow the X's and O's, needs to
know an exit strategy, needs tohave those tough conversations
with people.
I don't get hired all the timebecause like like like Josh
said, I I'm I I'm I'mreferral-based.
You know, I'm gonna tell you thethings that you don't want to
hear.
That's right.
You know, when we go shootlooking at at homes, um, my job

(01:10:14):
is to make sure you don't buythat house.
My job is to find all the badshit in that house.
So if if if agents focused onthat, they would be more
prepared for the next phase ofthis cycle.
The next phase of this cycle isnot gonna be pretty for agents.
It's not, it's gonna be brutal,bloody.
That's where I came into themarket.

(01:10:35):
You saw it, and it was rough.
I mean, talk about doing fouropen houses, eight hours every
Saturday, eight hours everySunday with one person showing
up.
Yeah, that's how my careerstarted, you know, and and some
of these agents, yes, we havesocial media, we have all these
other tools to get you in frontof thousands and thousands of
people.
But at the end of the day,people that are serious will

(01:10:57):
need a true expert in in realestate.
Yeah, you know, I I once heardsomebody say, um, and and I just
could not believe I heard it ina room full of agents.
Uh, if you want to be successfulin real estate, don't focus on
real estate.
Focus on sales.
And I said, rewind that back.

(01:11:18):
If you want to be successful inreal estate, do not focus on
real estate.
What?
Focus on sales.
And I said, how does that makeany sense at all for what we do
as experts, as fiduciaries, asadvisors?

SPEAKER_05 (01:11:34):
Absolutely.

SPEAKER_07 (01:11:35):
You want to be a great attorney?
I want to go out and get sales.
Yeah, go get sales.
You know, go, go, go, go do yourthing.
You raise a great point, and andit is uh almost a point for
another discussion, yeah, initself.

SPEAKER_04 (01:11:49):
Yeah, again, not not not dogging on the agents, no,
not at all.
You're just calling it what itis.
Brokers, team leaders, you know,handle your business, your
parents.
Yeah, as a broker, I've I'vebeen a parent of many agents.
Okay.
I always call my kids, my kids,you know.
My my my oldest agent is uh 75.
Shout out to Renee, sub Renee.

(01:12:09):
Um and but I always call mykids.
Why?
Because I'm responsible for themand everything that they do, and
I I don't babysit.
Yeah, none of my my agents canhandle their shit.
Yeah, okay, because they gettrained on what's important.
Now, if they want to, you know,pivot from there and do some
social media, do some otherother things that are cooler, go
for it.
Yeah, but that's where this isnot a dig at agents.

(01:12:31):
This is like brokers, teamleaders, um, everybody that that
uh that that is in charge of ofof agents, train them train them
on what's important.
Not train them on their yeah,not what's sexy or or their
feelings, you know.
You don't don't do that.
You're hurting them for theyou're the next the next piece
of the cycle, the the next it'snot gonna be pretty for a lot of

(01:12:53):
people.

SPEAKER_07 (01:12:54):
I mean it's gonna appreciate the honesty, yeah,
because the idea is they are notlearning properly, they're not
learning what they need to learnto represent their customer,
their client.
In the end, that's the personthat matters.
Exactly.
Yeah, if this person, therealtor, doesn't know their job,
that's okay.
They've got a broker as long asthey're empowered enough and

(01:13:17):
feel confident enough to asktheir broker when there's a
question, when there'ssomething, I have no problem
with that.
Yeah, it's the ones that thinkthey know everything that are
doing their buyers injusticesover and over.

SPEAKER_04 (01:13:30):
If you're a broker, and I'm looking at the camera,
if you're a broker, team leader,you know, anybody in charge of
ages and you're doing your job,thank you.
You're doing our profession aservice, and I thank you for
that, but because we're alltrying to survive, this is a
this is a profession that istrying to survive right now.
Yep.
So if you're doing your job,thank you.
I thank you.
From the bottom of my heart,thank you.

SPEAKER_03 (01:13:51):
Moses, what you got?
Um Brian Schaffer, you were inan industry that's under
constant attack.
At one point, they're gonna getto the point where the open
doors, the redfins, everyone.
We're at we're basically goingthrough a time where they're
basically pointing out realtorsare not needed.
We have the information at ourfingertips.
There's people are sellingconvenience.

(01:14:12):
We gotta start bringing value tolike what you just said.
Um, and this is no way a shot atall the realtors.
I've almost part of it isjealous that I don't have the
the rhythm to do the TikTokvideos or even the idea of like
I have the confidence that Idon't do it, but I bring to the
table experience and I just doeverything.
You just do everything with theright intentions, what I believe
everyone at this table does.
But we are under in an industrythat where we're trying to get

(01:14:36):
weeded out, like we don't needrealtors.
We don't why do we need you?
If I could just walk in a newhome build and you're just gonna
get your commission for what youdo, you point him in the right
direction.
Um, but yeah, we gotta start.

SPEAKER_07 (01:14:48):
Imagine if that was the case, we'd be in some shit
within a couple of years.

SPEAKER_03 (01:14:52):
Oh turmoil.
Fact.
We just gotta start bringingvalue to what we do and take
some pride in what we do andthen um do everything in the
right direction.
Like I said, you needleadership.
Don't pick your mentor off ofInstagram followers.
Yeah, don't pick your leaders orthe the broker you're going with
because it's a cool thing rightnow.
I will be a very strong advocatefor KW because that's where my
first seven years was, and itwas an absolute open door

(01:15:15):
policy.

SPEAKER_06 (01:15:15):
Sure.

SPEAKER_03 (01:15:16):
I could walk into Josh Boggs' office, I could walk
in anyone's office, I don't knowwhat I'm doing.
Hey, this is how you do it.
So pick your leaders, pick yourmentors, pick your team leads,
pick your brokers with hey, Iwant to be in this industry for
a very long time and not forinstant gratification because I
see all your closings and itlook really sexy, but there's
times change.
So pick your leadership, pickyour, like I said, just take

(01:15:38):
some take some time to think ofthat of who you're investing
your time with in.

SPEAKER_07 (01:15:41):
Absolutely.
Well, gentlemen, thank you forthat discussion today.
Uh, I've learned a lot in thisand uh new new new new form
friends right here.
Thank you, man.
You know your shit, brother.
I like it.
Um for those of you out theretuning in, listening to this,
uh, there's one point that Iwant to drive home.
Uh, and that is lower ratesdoesn't mean a better deal.

(01:16:05):
Make sure you are looking forequity, transparency.
And in the end, questioneverything.
Um that being the case, guys, wewill catch you on the next one.

SPEAKER_01 (01:16:39):
What the hell?
A thousand twenty-one likes.

SPEAKER_04 (01:16:46):
I know that's just that's just likes, dude.
I don't even know how many viewsthat has.
I saw it and I was like so manyviolations, so many why would
you do that to a militaryfamily, man?

SPEAKER_01 (01:17:00):
I I I would have known that so many.
I'm gonna have to go on thereand and comment on that.
But you know what?
You just become a hater.
No, you look like a hater now.
Right.
Well, and here's the other thingtoo, guys.
When I posted that becausethere's so many times I want to
rant, right?
But I've noticed, even like withthe Charlie Kirk incident.
For one, I just said pray forCharlie Kirk and I got my ass
handed to me, my people in ourindustry.

SPEAKER_05 (01:17:20):
Have you seen the thing?
I said, man, no violencerevived.
Look how you fire enough to getmore Trump income.
I mean after Yeah.

SPEAKER_03 (01:17:34):
I've done that multiple times.
I said, when did I mention Trumponce?
Right, exactly.
I've lost a lot of and I deleteda lot of people.
I've deleted a lot of peoplejust off.
I'm like, bro, I don't want tobe associated with you.
Like, like you really thisbrainwashed or something.
But we all the time I'm like,man, just it's you want to speak
up on stuff.
Yeah, like I can't.
I'm not trying to get in thisargument today.

(01:17:54):
Yeah, it's right.

SPEAKER_01 (01:17:55):
I'm gonna be sucked into it.

SPEAKER_03 (01:17:56):
I think we I think we got into one on the news
station, and I'm like, man, Iopened up the fucking can of
words on this.

SPEAKER_05 (01:18:01):
Like I do mind the Hilton algorithm of I mean ghost
and toast.

SPEAKER_03 (01:18:08):
Post and ghost.
That's what yeah, I see it'shard to stay like oh and I've
also been adamant.
I'm not gonna lose friends overpolitics.
I can still be your friend andlearn it all for the same
reason.
And the ones that you do are ifI'm your friend, like start
fucking friends.
I'm not an asshole, bro.
Like, I'm seriously.

SPEAKER_04 (01:18:24):
Um it's I I right now after this, I I'm gonna go
see the she's one of my clients,one of the probably the leading
um the leading radio LGBTQ postuh uh radio host in the nation.
She's one of my clients.
She's relocating.

SPEAKER_02 (01:18:42):
And let me guess, she's not woke.

SPEAKER_04 (01:18:44):
Uh I I don't think we each other, I don't think we
give a shit.
Like I don't think we care, youknow.
Good point.
It's like so then she's notwoke.

SPEAKER_07 (01:18:55):
Yeah, no, she's the reason being is she would have
already gotten that out of theway.
Oh, yeah.
Yeah, that's not her.

SPEAKER_04 (01:19:01):
Not a single mention to anything.

SPEAKER_05 (01:19:03):
She just has plenty of good ones out there with
yeah, she's not a mention.

SPEAKER_04 (01:19:09):
And she's the coolest lady ever.
You know, obviously, you have tobe careful what you say because
you want to be respectful, yeah.
Just like anything, just likewith any culture.
Uh, you know, if you're gonnaany business, any bit the room,
read the room, yeah.
Read the room.
Uh, but we got along like rightoff the bat.
She she's like, Wow, you know, Ibought a house before, I never

(01:19:29):
had this much fun.
Yeah, on the first day oflooking at houses.
That's cool.
And then yesterday I sent herout with my with my uh showing
partner, uh, and she texted meback.
She's like, Wow, I want you to.
I had more fun with your showingpartner than you.

SPEAKER_05 (01:19:44):
I was like, There you go.

SPEAKER_04 (01:19:46):
Yeah, and and we're and and just again, it's we've
we've reached a point where wedon't we don't we we've decided
not to talk to each otherbecause people will tell me, you
know, I'll say one thing I waslike, Oh, you're a Trumper.
I was like, time out.
Let's discuss the issue.
Yeah, you know, let's discussthe issue.
Let's go one by one.
Let's go one by one.

(01:20:06):
Let's heal it back.
Why did I get here?

SPEAKER_03 (01:20:08):
Like, how did I?

SPEAKER_04 (01:20:09):
Yeah, how did you get there?
You know, and that's when theyjust go batshit crazy and they
they don't want to talk to youanymore because they can't talk.

SPEAKER_05 (01:20:18):
I never once mentioned a job.
I just said, man, this iscommenting off the like a dude
died, man.

SPEAKER_03 (01:20:24):
It's fucked up.
For real.
Go back to the core, yeah.
Go back to the core morals ofhuman.
I don't give a fuck if I hatedyou.
Like I had someone brought it upon my status.
Like, well, he called um uhGeorge Floyd a uh scumbag, and I
was like, bro, why are webringing up George Floyd first
off?
And second is man, dude, likethey both shouldn't have died.

(01:20:46):
How about that?
Yeah, yeah.
I don't give a damn like what itis, what your stance is, nobody
should freaking die.
Like at the hands of anotherperson.
And so outside, but that'srerun.
I run into that a lot wherepeople and it's a realtor, a
realtor was going back and forthon me to call me racist because
I didn't agree about his ColinCavernet today.
Like, he's like, You're just aracist.

(01:21:06):
Like, no, you're just terribleat football.
Like, how about that?
Like, you're a racist.

SPEAKER_05 (01:21:13):
Yeah, can I just say common sense like no guys?

SPEAKER_01 (01:21:23):
I'm gonna say this.
I got friends on both sides, andI'm gonna say the name calling
the name calling is what needsto stop because people think
they can.
I mean, we don't can't say then-word out loud.

SPEAKER_05 (01:21:33):
You don't have an arch you can.

SPEAKER_01 (01:21:34):
Well, I well, you know what's funny.
Growing up in high school, I wasone of the only white guys that
could.
That's funny because I was Iplayed basketball, I was down
with them, they knew it.
I grew up in the street.
You know what I'm saying?
I was born in Mexico for fuck'ssake.
But yeah, yeah, oh yeah, but youcan't be a Trumper because
you're from Mexico, right?
My cousins love them.

SPEAKER_03 (01:21:54):
Same like that.
But once it goes to the pointwhere it's like you're calling
names, I'm like, all right,we're past this debate now.
And I was like, second, is youwant to turn petty, we're not
gonna go lower.
That's exactly right.

SPEAKER_01 (01:22:05):
Yeah, we're no longer debating.
No longer debating, but whatyou're doing though, and this is
what I'm trying to explain theargument, is you're de
demonizing a human being andgetting people behind it.
That's why so many people werehappy about Charlotte Kirk.
Because I was like, why arepeople celebrating this guy got
murdered and executed on wifeTV?
And people are like, Yeah, good,that's a what racist piece of
shit gets.

(01:22:25):
I'm like, Do you know who he is?
And I claim to I said, Do you doyou follow anything?
Don't need to.
I've already seen the clips,blah blah blah.
There you go.
There you go.

SPEAKER_03 (01:22:33):
So because people said it, you just jumped out.
So my argument's always been ifyour source is social media,
then no one have theconversation.

SPEAKER_04 (01:22:39):
Exactly.

SPEAKER_03 (01:22:40):
If it's lazy, yeah.

SPEAKER_04 (01:22:42):
15 years ago, I told my wife, I said, you know, I
think we have a mental issueproblem.
Oh, yeah.
Back then, mental health isbeing celebrated.
Back then, it wasn't it wasn'tmental health, wasn't even
mentioned.
Yep.
I'm gonna tell you right now, wewe we yes, we have a mental
issue, mental health issueproblem.
The problem we have right nowthat is alive and well, is the
damn algorithm.

SPEAKER_05 (01:23:02):
We have an algorithm, your algorithm is did
you watch the principle with Jimand Matt and Steve?
Yep.
That we went in depth on thealgorithm.

SPEAKER_04 (01:23:15):
The algo as we have an algorithm, which my my
attorney, one of my bestfriends, exactly correct, we're
polar opposites politicallyspeaking.
And one day I just said,Brandon.

SPEAKER_05 (01:23:24):
Let me see your feed.

SPEAKER_04 (01:23:25):
Let me see your feed.
Let me see what you're lookingfor, and and yeah, I'll show you
mine.
Yeah, yeah.
And boy, talk about black andwhite.
Uh-huh.
And I said, That's what you'reseeing every day.
Yeah.

SPEAKER_05 (01:23:34):
Because he's one of those that get putting their
shit in our feed and our shit intheirs.
Piss them off.

SPEAKER_04 (01:23:39):
Yes.

SPEAKER_03 (01:23:40):
The higher ups are eating it up.
Oh, yeah.
Yeah.
Today, meta's meta at today.
It's sad and the division isreal and it's all
self-inflicted.
And it's uh it's crazy becauseit's a reading comprehension
issue per half because it takessome time.
If you actually motherfuckersare counting Tylenol, and said

(01:24:04):
the blue, he didn't say Tylenolpositive.
Yeah, he said it may lead up, itraises the risk.

SPEAKER_05 (01:24:11):
And if you're Tylenol said you should CNN,
flip this worry out, raise therisk.

SPEAKER_03 (01:24:17):
It doesn't mean you motherfuckers are pounding
Tylenol because I'm just like,man, you know, and then you
can't argue with people likethis.
And then people like, and it'sit's like you're hard.
Yep, I know.
And people say, like, you knowwhat I'm saying?
Because we're gonna argue aboutif we were arguing about
religion, I could go to yourreligion and say, it is stupid
that you think you're gonna die,and you have 21 virgins and 500

(01:24:39):
goats and all that.
I think it's stupid, but youwere raised by that.
And I who am I to say it'sstupid?
You could look at my religionand say, So Jonah really got
swallowed by a well.
Like you so you're saying thatin a lion's Dan, you survived a
night.
Like it sounds stupid to people,but it means something to me.
It's entrenched in you.
It means something to me.
And who am I to be like say thatsounds stupid to you?

(01:24:59):
Yeah, and I'm very adamant ofbro, if you want to marry a
goat, you want to marry a man,you want to marry this, you're
happy, have at it.
Don't force it down someone'sthroat.
Live your life, bro.

SPEAKER_05 (01:25:11):
Sounds pretty commonsensical.
And it's and that's you'reasking for too much, you're
asking for common sensors.

SPEAKER_03 (01:25:17):
Yeah, that's such a scarcity, and then that's what
it is.
It's what once it's forced downsomeone's throw, I'm like, hey
man, like, do you, but like, whydo I have to conform to you?
Like, I'm gonna respect you, buty'all don't have to fall into
your like cool, bro.
Be happy.
The reality with this is one ofit just a big cyop.
And then what in-game is when itcomes down to is oh, it's a sin.

(01:25:37):
No, this is a sin, this is asin, this is a sin.
I'm saying, bro, bro, that meansmore space in heaven for you,
motherfucker.
Like, at their city, who am I,but who are you to tell you?
That means I'm gonna make it whoam I to tell you?
I'm gonna make it heaven.

SPEAKER_05 (01:25:52):
This being your first time.

SPEAKER_07 (01:25:54):
Uh, what helps is at the end of the day today, I'm
gonna send you guys a link witha Dropbox.
It will have 40 clips with reelsalready done.
Download whatever you want andshare it.
This will go live next Wednesdayon social media.

SPEAKER_05 (01:26:09):
And promoting it helps get the views.

SPEAKER_04 (01:26:11):
The bigger the funnel collaborating with all
that, the bigger the funnel, thebetter.
That's right.

SPEAKER_07 (01:26:15):
And our markets tap into each other's markets.
No, I didn't start this bus thispodcast to get business, but we
do end up getting business.

SPEAKER_05 (01:26:23):
Which is about us because we're um and that's just
kind of how it works.

SPEAKER_04 (01:26:27):
Yeah, no, it works.
It works.
Um we have our guy in uh in uhhe won't need to do anything.
Okay.
They're done.

SPEAKER_05 (01:26:37):
You can just do it.

SPEAKER_01 (01:26:41):
You should put uh four.
Uh what I will say, I don'tcare.
Mark's gonna have your phone onour mark.
You've got you've got to holdthe platform.
And I think you guys are on theprecipice of hopefully maybe
never being as big as uh uhCharlie Kirk or anything like
that, but I'm saying we have tohave this open dialogue.

(01:27:01):
So opposing views and doingsomething like this, yeah,
getting everybody oh, are wesupposed to do it?
Oh, okay.
I'm sorry, okay.

SPEAKER_05 (01:27:15):
I need to start doing that.
Thank you.
Anyway, I think open our groupmessage.

SPEAKER_01 (01:27:23):
Please, yeah, please send that.

SPEAKER_04 (01:27:27):
Yeah, add access our AME.

SPEAKER_01 (01:27:33):
It's it's what we have to have nowadays.
And now you guys try to run forpolitical office.
I I gotta talk into it, and Iwent to the first uh login
meeting, and I tell you what I'mtrying to get right out of it
because I mean well, no wonder II fucking didn't have a hate
that we're all gonna see if theytalk about that because all it
was nothing positive.
It was just like, can youbelieve these teachers are doing
this?
We need to figure out how tostop them, we need to get this.

(01:27:57):
No solutions, no, that's all itis.
That's the one I want to do.
And I think in the opendialogue, because we all start
to realize we're not all gonnaagree.
No, I can agree with whateverything is, but we have to at
least understand that we haveempathy and understand what
people are walking.

SPEAKER_07 (01:28:14):
Here's what the strangest, funniest, most uh uh
uh uh fascinating.
We all all probably agree on 80%of everything.
Yeah, weird, but yet we focus onthe 20% the 90%.

SPEAKER_03 (01:28:33):
Yeah, what you said in that post is I guarantee you
it's probably crossed your mind,or to an extent I crossed my
mind.
It's it takes some balls topost.
I was like, man, he went hechose islands today.

SPEAKER_05 (01:28:46):
I said podcast.
That's what I was like, I'llleave the game.

SPEAKER_03 (01:28:50):
Let's go back to we gotta get back to a comfort
level of like, I don't want toget canceled, I don't want to
get canceled, but you said itlike hey, I'm established.
Like we've got it, we gottamention shit now.
Because if shit just keeps goingswept under the rug, all of a
sudden we're gonna have anavalanche of like we we should
we're the only profession thatdilutes themselves.

SPEAKER_04 (01:29:06):
Yeah, so it's the only profession that dilutes
themselves.
We keep on there, you know,lowering the bar, lowering the
bar, lowering the bar, lowerlike we're we're we're again
talks about it.
A general a generation of of ofyou know glorified door openers.

SPEAKER_03 (01:29:20):
We made it worse.
If we make it worse forourselves, and then you go, I
guess you can you go to fuckingGroupon and become a licensed
realtor.
Like Groupon for$500,$400.
Yeah, and I'm just like if we'regiving you someone just bought a
$500,000 house, like the personwho represented that uh buyer,
she made it very clear.
Can you help me?
And she and this is uh and Ilove Jeff because we're

(01:29:42):
obviously partners.
She's with Red Bird.
She's like, I'm scared to askJeff.
And I said, Jeff's a good dude.
That's Jeff's dude.
But she's all but that's ifshe's scared, it's because she's
doing something wrong.
And she's scared of therepercussions of Jeff feeling,
hey, what's she?
And she told me, I said, Yeah, Iknow Jeff.
I was like, Yeah, Jeff's gonnahelp you.
Absolutely and she's like, Well,I don't want to just sound so I
said, Jeff, like, I know Jeff.

(01:30:03):
He's gonna help me.
And she's just like, and she gotsome help from him, but I'm
like, hey man, like it blows mymind, like, how the fuck did you
land a$650,000 client?
And I'm telling you, the housewas shit, like everything was on
to seller's disclosure.

SPEAKER_07 (01:30:16):
So I have a question for you because you raised that.
Is the issue the new agent thatgot into business and captured
that deal, or is the issue thelack of education on the buyer
or seller side for hiring thatagent to try and save the money?
Oh, buyers know.
Does that make sense?
Can we put it on the agent?

(01:30:37):
You closed your first deal atsome point, yeah, absolutely and
guarantee.

SPEAKER_03 (01:30:41):
You have a video until you make it to an extent.
Correct.
But it's also very much of abuyer, we have so much
information at our fingertips.
But like, for example, ifCisco's my client and he works
for Toyota, I tell my clientsvery much for doing a buyer's
consultation, I don't know shitabout Toyota.
And I'm gonna treat this like ifit were my first day.
I'm gonna ask you a millionquestions about Toyota.
Yep.
I need you to treat me likethat.

(01:31:02):
It may sound stupid to you, butI'd rather you ask me than
Google it.
Yeah, because if you end up onGoogle, all of a sudden you got
a tumor and you got three monthsto left.
So as I tell my clients, butit's so buyers to an extent is
almost at fault.
But if I go to a doctor, I'm notgonna know if that doctor
started one started his firstday.
You're right, or 10 years,because I'm gonna say you're a
fucking doctor.
I hope you know.
You made it.
Yeah, yeah.
I hope you know what you'redoing.

(01:31:23):
I don't care if you're last inyour class or first in your
class, you're still a fuckingdoctor.

SPEAKER_07 (01:31:27):
Well, that that's that's hate to shameless plug,
but that's literally why wecreated Lone Bot for buyers to
pull back the curtain, betransparent, show them what they
can actually do.
And I mean steered.
Then be the experience be thefucking expert that says this is
the one I recommend and why,because you told me this, this
is your scenario, and it forcesthe lender to ask those

(01:31:49):
questions that and no feats ofthe fire because you that's the
high trust interview.

SPEAKER_03 (01:31:54):
When you get an educated buyer and they're like,
Well, and I name something, likewhatever it may be, like your
escrow accounts, whatever stufflike we talk about every day.
It's like, okay, yeah, I wasreading on that.
I'm just like, good, because nowshe's gonna hold me accountable.
She's gonna ask, Well, what isthis?
And what about this?
And then you've got to be like,no, no, that's only for
conventional loans, or this isif you've got 20% down.
Oh, okay, then that makes sense.

SPEAKER_07 (01:32:15):
So there's buyers that are really educated, and
you've got to well, there arebuyers that are educated to the
point that they can find theinformation, but the realtor
needs to be there to help themapply that information and to
back up what they read atresearch, because at the end of
the day, I can read laws all daylong, but I can't apply them
correctly, right?

SPEAKER_03 (01:32:36):
So that buyer, they're uh dentist, they're
dentists in Alaska.
So obviously they're veryeducated.
Sure.

SPEAKER_07 (01:32:41):
Like I would assume they were in whatever they're
educating in their field.

SPEAKER_03 (01:32:46):
Yeah, so I'm assuming they found the buyer,
uh the buyer's agent throughlike a referral, or maybe they
clicked on someone's TikTok, orthey clicked on, oh, they seem
like they got a million views,and they must know what they're
doing.

SPEAKER_01 (01:32:57):
Well, that's what it is, and our sentence because
we're the lowest bar to entry.
Um$600 in a weekend, you can getyour license.
Just like Steve Collins wouldalways say, he goes, you know
what?
If I was gonna be putting in$8,500 and I was told I gotta
win a race, every licensedperson can drive a car, but I'd
rather have Mario Andrettidriving than you know my own
son, Josh Collins.

(01:33:17):
Right.
They might have the same equallicense, but don't nearly the
same experience, right?
And what happens in thisindustry because there's so much
unpacked about it, is that and Ijust had this happen this
morning.
It was so funny.
One of my buddies I've known for14 years and helped him buy his
first house.
Hey man, I just want to let youknow, dude, think we're gonna go
with our other agent becausewe've known her for so long.
She's such a nice girl, and wejust felt so bad that we didn't

(01:33:39):
give her the business.
And that happens a ton all thetime.
You know, and how how do you howdo you go back and be not the
dickhead?
You know, but like, wait, wait,wait.
I looked her up.
Do you want to really know howmany deals she's right?
I'm not gonna.

SPEAKER_07 (01:33:50):
And an even sadder point to this is the only
industry, and maybe not the onlyindustry, where experience
versus non-experience will getyou the same paycheck.
Boom.

SPEAKER_05 (01:34:01):
Yeah, boom, yeah, that's what you just made three
percent and I like what yeah.

SPEAKER_04 (01:34:07):
The new the newest thing that we're working on is
is AI, right?
Oh but now people what peopleare doing.
Let me know.
I'm gonna nervous and what whatpeople are doing is they're
educating you because Google'sgone.
I'm not gonna say Google's gone,but it is something that the
more comfortable people get withchat because Google is still
very Google AI a lot.

(01:34:29):
Yeah, the more people getcomfortable with Gemini, the
more people get comfortable withPerplexity with Rock.
Um, they just they set theirscenario and the last the last
seller consultation I had, um, Ijust ask.
I always assume if they justcall me from because I'm I'm I'm
just like Josh, I'mreferral-based.
Yeah, yeah.
If if if they found me online, II usually it's Google, right?

(01:34:51):
You know, or the Better BusinessBureau.
And I said, How did you find me?
He's like, Well, you know, wewent on on Co-Pilot, uh, which
is uh Microsoft, yeah, and wekept on asking you, kept on
giving prompts and prompts andprompts and prompts, and your
name kept on popping up.
You kept on popping upconsistently.
Then we finally looked you up,and I said, Okay, cool.

SPEAKER_05 (01:35:11):
And then hey, he's good looking.
I was like, Hey, what's the air?
It's good.
What's the what's the can'tpronounce his last name, but so
they called me, they're like,That's how we found you.

SPEAKER_04 (01:35:22):
I sat down and I'm like, So, and they're both
engineers, you know, softwareengineers.
And I said, Okay, walk methrough it because how yeah,
yeah.
And I called one of my my myclient Panos, who's a uh machine
learning AI professor atTrinity.
I was like, So, how does itwork, man?
Where does it pull theinformation from?
Because I want to be on thereall the time.

(01:35:42):
And he says, Well, you know, youI I remember giving you your
review, your Google review.
Just remember those reviews arelike locked and sealed, nobody
can see those.
AI can't see those.
So they go to everywhere else.
Exactly correct.
Uh, and they go to like randomwebsites like expertise.com, uh
fast experience.com, yeah.

SPEAKER_05 (01:36:02):
You know, those that don't have access, yeah.

SPEAKER_04 (01:36:05):
Yeah, they they your AI will not go into Google
reviews and read you.
So they go through, they gothrough Zillow, they go through
all these other places, and he'slike, What you need to do, and
this is the nugget for everybodyto take home.
You what you need to do ismention your experience, mention
your reviews, how many you have,awards, and all that on random
places, because that's where AIis going to find.

(01:36:28):
Look yourself up again, andit'll give you the sources.
Yeah, it's AI.

SPEAKER_07 (01:36:35):
Yeah, you're right.

SPEAKER_04 (01:36:37):
Um that's how you're because people are getting more
and more comfortable with justgoing to chat and be like, hey,
what do I do about this?
What do I do about that?
We we went to California.
Uh, my whole trip was planned.
I didn't have to do anything.
My whole I had to rent the car,I had to buy the uh the flights,
and I got the Airbnb.
Everything else was fullyplanned by chat, like the whole

(01:36:57):
thing.
I said, I have I'm a family,we're a family of four, my
children are these ages, we'regoing for these concerts, we're
doing this, we're doing that, dada da da da da da da da da da.
And it gave me like a fullitinerary for every freaking
day.

SPEAKER_07 (01:37:10):
Every freaking day, you know, allergies, I used
everything multiple times in aday and have been since day one.
I before anybody even knew aboutit, we were using it to build.

SPEAKER_04 (01:37:20):
I I know I I I woke up at two midnight last night.
I couldn't for some reason Icouldn't sleep.
And um I have my phone.
I don't want to go on anything.
Let's go into it.
Um I'm gonna wake up uh 3 a.m.

(01:37:43):
when the market opens, and Iwanna deploy X amount of
dollars, uh, and I want to do ascalp that nets me at least 10%.
So give me the five stocks thathave the you know the highest
probability.
Broke it all down for me.
From there, I went on to onto Xand started doing research on

(01:38:05):
all of them.
This is while I can't sleep.
Yeah, well, hang at that centerfront, you know, yeah, and we're
all in the okay, you know, boom,boom, boom, boom, boom, boom,
did my research, picked mystock, put it, set it, turned
off the phone, woke up, and Iwas like, I thought my wife I
was like, I did that while I wassleeping, but I didn't sleep

(01:38:27):
that I did.
She's like, What?
I'm like, I know because I'm aman, yeah.
But yeah, I mean that thing iswild, but that's in our
business, it's it's become sucha such a tool.
In every business, yeah, it'sbecome such a tool.

SPEAKER_03 (01:38:41):
But it's hard, but that's where it is where we're
under attack because after awhile, like people are like, Why
do I need a realtor?
Like, if AI just keepsdeveloping, like, why do I need
a realtor?
That's where you gotta bringvalue.
Like, we gotta bring value.
I'll be in Mexico.

SPEAKER_05 (01:38:53):
That's why we also came out with bone bot.
I'll be in weapons.
Uh not joking.

SPEAKER_03 (01:39:01):
We can eliminate your fingertips now.
It's a we're gonna generatewe're everything that's
convenience.

SPEAKER_05 (01:39:08):
But we're good to go.

SPEAKER_01 (01:39:10):
All right, guys.

SPEAKER_05 (01:39:11):
I know you're like awesome.
Like I said, you'll have allthis by the end of the day all
they put up out.
Very nice to meet you, man.

SPEAKER_07 (01:39:20):
Yeah, I gotta hang out, man.
If you're still sending out freeapproval letters and praying
your realtors send you the nextlead, you're already behind.

SPEAKER_02 (01:39:28):
Top producers are winning because they're giving
their agents more than just ratesheets and donuts.
They're giving them loan bot.
With loan bot, you can offerrealtors a white-labeled
co-branded digital mortgage toolthat they send straight to their
buyers.
It's like giving them a miniloan officer in their pocket.
Available 24-7, fully loaded andbranded with your name and their
trust.
Buyers can self-diagnose,compare loan programs, check

(01:39:50):
real numbers, search properties,and explore down payment
assistance without blowing youup at 10 p.m.
And the best part?
You see everything, everyscenario, every lead, every
milestone.
You're looped in the whole way.
Loan bot isn't a widget, it'sthe referral machine you've been
waiting for.
Here's the deal your realtorscan get it from us directly for
$9.99 a month.

(01:40:11):
But it'd be in your bestinterest if they got it from
you.
Either way, they're going to getit.
White labeled, co branded,transparent, and more.
Sign up for your demo with ourteam of innovators.

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