November 25, 2024 • 40 mins
Considering a career pivot? In this week's episode of The Ultimate Jet Guide, Real Estate Broker Noah Ward and Jet Broker Tom Lelyo dive into the core differences and advantages of the aviation and real estate industries to help you decide your next career move.
PLEASE show some love to Noah by visiting his YouTube channel: @NoahWard_SarasotaFlorida
Episode Highlights:
- Meet Noah Ward 🎙️ - Tom Lelyo introduces guest Noah Ward, who shares his journey in real estate, custom homes, and content creation.
- Real Estate Roles Unpacked 📋 - Noah breaks down the steps to becoming a real estate agent or broker in Florida.
- Real Estate vs. Jet Brokers ✈️ - Tom and Noah discuss the similarities and differences between selling homes and private jets.
- Focus on Active Professionals 🔍 - The key to success is not the total licensees but how many are actively producing in the field.
- Career Change Inspiration 🚀 - The episode inspires listeners to explore aviation or real estate careers, even with no prior experience.
... and more! Thanks for joining us this week on the Ultimate Jet Guide.
🤝 Join our FREE Private Online Community for aspiring Jet Brokers: https://circle.jetlifeaero.com
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Being a Private Jet Broker is a life changing opportunity for those seeking a career in an industry that has low competition and extremely high commissions.
Let's book a call so you can discover how to get your FIRST SALE and start a new career in Aviation - https://www.theultimatejetguide.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello and welcome everybody to the Jet Life
Podcast.
My name is Tom Lelio and onthis channel, we pull back the
curtain.
Whether you're a buyer or anaspiring broker, we help you buy
and sell private jets withoutwasting time, losing money and
with no experience necessary.
Today we're pulling back thecurtain on real estate versus
aviation, and I'm very excitedto be introducing to you my
(00:23):
guest, noah Ward, who is a realestate broker, a custom home
builder and a content creatorextraordinaire.
You got so much stuff going onright now, noah.
I'm really excited to have youon the podcast today, so welcome
.
Speaker 2 (00:39):
Well, thank you very much for having me.
I can't wait to jam out aboutthis the broker life versus the
jet broker life.
Speaker 1 (00:46):
Yeah, exactly, I guess one of the first questions
I had what is?
I see real estate agents, I seerealtors, I see brokers, I see
builders.
Can you unpack that for us?
So again, I guess the mainaudience for today is anyone
that's thinking about a careerchange and they want to learn
more about aviation.
Possibly that's why they're onthis channel, but maybe they've
(01:06):
also been thinking about realestate, because everybody has
been bit with the real estatebug in the last couple of years.
So can you maybe unpack thedifferent roles that we can find
in real estate?
Speaker 2 (01:16):
Oh yeah, exactly.
So obviously I don't reallyknow the whole jet broker
lifestyle, but for real estatethere's different tiers
basically.
So typically in real estate youeither are a real estate agent
or you're a real estate broker.
So I hold a broker's license,I'm a broker associate under a
brokerage that I'm with.
I don't really have my ownbrokerage just yet, but I have
the license to be able to.
(01:37):
If I wanted to start mybrokerage today I could.
But that's not the first step.
The first step is just gettinga residential real estate
license.
You basically take a test, youdo all the pre-exam stuff and
then that's your first license.
And then here in the state ofFlorida you have to hold that
real estate license for twoyears or more before you even
(01:57):
can go do the practice exam anddo all the questions for the
broker's test.
And then obviously there'sother branches off from in real
estate.
Besides just having yourlicense is one you can go into
general contracting, which I amnow partners in a custom home
building company.
My general contracting partnerholds a license for it.
(02:18):
He doesn't have a real estatelicense, but he has a general
contracting license.
It's still in real estate.
He can't do residential sales,but he can do the custom home
building side and the remodelingside, where I traditionally
couldn't, which that's why, forme at least, it makes sense to
have that partnership with mygeneral contractor and then me,
who holds a real estate license.
Speaker 1 (02:38):
Gotcha, gotcha.
And so what's the differencebetween a real estate agent and
a realtor?
Speaker 2 (02:43):
It's honestly just your designation.
At this point it's paying tothe NAR, National Association of
Realtors Association to havethat designation of realtor.
Speaker 1 (02:52):
Gotcha Okay.
So ballpark, if you wanted toget into real estate, you don't
have any real estate background.
How much is it going to costyou and how long is it going to
take you to get up and runningto maybe your first sale?
Speaker 2 (03:07):
So obviously I wanted to expedite my process just a
little bit more, so I went allin.
I was spending eight to 10hours a day doing the
pre-licensing exam, becausethat's you know, I can't
remember if it's 72 hours herefor Florida.
So we have to go through acertain amount of time.
Yes, yeah, we have to study forover 72 hours.
In theory, you either can go doa crash course or do it online,
(03:29):
and then you can then go foryour real estate test from there
.
So, if you think about it, youcan knock that out in about a
week, give or take your on yourtimeframe, and then from there.
Then all we, what we have to dois you know, you got to wait to
do your fingerprints, which cantake a few weeks, and just
depending on the timeframe, andthen from there you just have to
apply for your MLS board, yourlocal board, and then obviously,
(03:52):
then you can, then you'reofficially licensed and you can
start practicing real estate.
So I would say in a matter of acouple of weeks you could have
it all knocked out, you couldhave going to real estate.
Now, getting your first sale isgoing to depend on your
connections.
Speaker 1 (04:05):
Okay, okay, so weeks for the certification.
Okay, or the license.
Is it a license orcertification?
Speaker 2 (04:11):
It's a license.
Speaker 1 (04:12):
Okay, so a license being something that you now
have the ability to practice, aspecific discipline, in this
case, residential real estatetransactions.
So a few weeks to the licenseand then getting your first deal
(04:33):
.
Are you usually warm leads,cold leads?
Does the brokerage give youleads?
Do you have to find it on yourown?
Do you just have a call list?
What does that actually looklike on your first 30, 60 days
as a real estate agent?
Speaker 2 (04:41):
Yeah, exactly.
So it's kind of tricky.
It all depends For me.
I personally moved fromWisconsin, moved down here to
Sarasota.
I did not know anyone, so I hadno idea which most agents rely
on.
When they get into the business, they start talking to their
friends saying hey, I'm an agent.
If you know anyone that'slooking to buy or sell, just let
me know.
That's literally the typicalspiel that any other agent will
(05:02):
do.
But for me I couldn't do that,so I leveraged video initially
when I got into real estate,when I first got my license.
So I created a YouTube videoand my experience is a little
bit unique because in my firstvideo, within the first couple
of days, I had someone call meand they're like hey, no, I'm
ready to, I want to go buy ahouse.
And within a week we wereshowing them houses.
That was exponentially quick.
(05:25):
How quick was that?
Speaker 1 (05:26):
What was that.
How quick was that for you then?
Speaker 2 (05:30):
That was within probably a week and a half, two
weeks, oh gosh.
Speaker 1 (05:34):
Okay, okay.
Speaker 2 (05:35):
Yeah, so my experience is a little bit
different, because thetraditional agent won't see
results.
Between 30 or I would say 45 to90 days is when you can expect
to maybe get a commission checkor work your way towards that
commission check.
Unless you already have a deepsphere, then maybe you can do it
within the first 30 days.
Speaker 1 (05:55):
Okay.
So there's guys out there thatwithin two weeks or whatever,
they get a listing.
If the market's hot, you startgetting under contract.
So by 45 to 90 days you haveyour first check.
What do you think the averagefirst year expectations for a
real estate agent should be?
Is it six figures?
Is that realistic?
(06:16):
Is that common or more or less?
Speaker 2 (06:20):
I'll tell you what I made in my first year.
I only made $40,000 in my firstyear of real estate.
I'll tell you what I made in myfirst year.
I only made $40,000 in my firstyear of real estate, not
knowing anyone.
I was 20 years old and Ithought it was pretty good for
my first year, being like, hey,I just got into the business
they did not know I was inMinnesota, right.
But honestly, I've seen peoplemake anywhere from $40,000 to
(06:42):
maybe $90,000 in their firstyear and then from there it's
just been exponential.
For me it's been exponentialyear over year over year.
It all just depends on yourmarketing at the end of the day,
but the first year is reallyjust you're trying to get your
balance into the market and whatyour unique selling proposition
is going to be, and so to make$40K, how much do you feel like
(07:03):
the average or you the averageperson is investing?
Speaker 1 (07:07):
I mean the real estate license, I think, is
around $2,000 to $3,000 when youinclude the course and stuff.
Is that right?
Speaker 2 (07:14):
So when you include all the courses, all the tests,
all the exams you're gettinginto the MLS board.
You're probably about $3,000 orso all in.
Speaker 1 (07:25):
Okay, getting started .
Okay, so $3,000 to get $40,000.
I mean that's not bad.
And then here's the problem.
Right, we're talking aboutaverage and when you have such a
big pool of real estate agentswhere I forget the number I have
, but I want to say only apercentage like 5% to 10% of
(07:47):
real estate agents would beconsidered active, they have
listings and they're actuallydoing stuff it might sound low
like oh yeah, 40k your firstyear, but there's a lot of
people dragging that down.
And then there's some peoplepulling up that average in the
first year Because, like yousaid I think you said you had a
team member that within theirfirst few months they were well
(08:07):
over 40 grand.
Is that right?
Speaker 2 (08:09):
Oh, yeah, exactly.
Speaker 1 (08:11):
Okay, okay.
So what got you into realestate and how long ago was that
?
Speaker 2 (08:19):
So I got into real estate back in 2021.
So for me, it was somethingthat I was looking at, like I
was looking at going into themedical field personally.
That was my right in highschool.
It was kind of the goingtowards the medical field.
But then, you know, I wassecond guessing like, is that
really something that I trulywant to do?
(08:41):
I knew that being in themedical field offered
limitations right, obviously, totiming, schedules, travel
flexibility, stuff like that.
And then so for me I was like,okay, what can I do?
that's going to offer me, intheory, an unlimited cap in
income and the most amount offlexibility, and for me that was
(09:01):
going to be real estate andwhat I look at real estate as is
.
I got into real estate becauseI knew that was going to be a
vehicle to a unique place.
I don't know what that place isyet because I'm still working
towards that, but I knew thatreal estate could open up many
doors that not other peoplecould do if you were working in
traditional jobs.
(09:22):
That's why I was like I knowthat real estate is going to be
the place that I'm going to do,or what I'm going to do, and
wherever that takes me, that'swhere it's going to lead me.
I've never closed offopportunities.
I've never said no toopportunities because, at the
end of the day, I'm like thisone opportunity could lead me to
down this other path which thatopportunity led me to going
(09:43):
into the new construction world.
Speaker 1 (09:44):
Yeah, yeah, so let's talk about that for a second.
What are some of thelimitations for the real estate
world?
That has you looking at customhome building?
Or maybe is also some of thereason why there might be so
many agents in the United Statesbut so few of them are active.
(10:06):
What are some of thelimitations that you've seen?
Speaker 2 (10:08):
So for me, the limitations are obviously every
agent.
So every agent says thatthey're unique.
In a sense, they offersomething that another agent
can't, and that's the biggestthing.
But if you break it down, weall offer pretty much everything
very similar to one another.
Now, sure, some people may haveunique marketing propositions.
(10:29):
At the end of the day, they'rejust paying to have someone else
promote a certain channeloutlet.
That's all it is at the end ofthe day.
For me, that was.
The limitation I saw was howmany houses and how many places
can you go around in one day totry to get a listing, to try to
show buyers around and so forth.
Your time is really constrainedto either sellers or buyers.
(10:53):
And so, yes, people can makeseven figures selling real
estate, but they are also justnonstop, always grinding in the
real estate world.
And for me it was like, yeah, Ican do that and that's what I
do, but I'd rather go downanother path to where I can be a
little bit more creative.
Real estate, to me, is notcreative at all.
(11:13):
You're basically put into a box.
As a real estate agent, youhave to follow certain laws,
certain rules, so you don'tviolate them and lose your
license.
With construction, you have alittle bit more creativity on
what products you can actuallyoffer someone Like.
If you came to me, you're likeno, I'm looking at building a
custom home.
Literally, the sky's the limit,you know, with designs and
architectural styles, stuff likethat.
(11:34):
But with real estate you know,you live here in Sarasota it's
just like most of these housesare the exact same, like they're
the exact same style, you know.
So when you're looking atbuying a house, it's not like oh
, I'm looking for this, it'sgoing to be very hard to find
that, but with custom homebuilding you can create that and
that's what I love about thecustom home building aspect.
Speaker 1 (11:54):
If somebody was looking into real estate, why so
?
I mean, there's somelimitations, and that's real,
but why would you encourage them?
Because I know you also, alongwith the custom home building,
along with your own real estateportfolio, you do have a team as
well.
Tell us a little about thataspect of it.
What inspired you to open up ateam, what do you like about
(12:17):
that and what are some of thepositives that you share with
your team about?
Like, hey, we're in a greatcareer right now as real estate
people.
Speaker 2 (12:26):
Of course, yeah, so I have a team.
I have a personal team that Iactually started here in
Sarasota locally, and then Ihave basically a countrywide
team, which basically is justagents that work with me and
partner with me within thebrokerage that I'm with and we
bounce ideas off of one another.
We're in different marketplaces,but then my local team here in
Sarasota that we have.
(12:47):
We obviously talk specificallyabout what's going on in the
Sarasota real estate world andwhat makes it so unique is I
love selling real estate inSarasota because of all the
opportunities that are there.
And everyone says there may besome limitations with real
estate.
Yes, that are there, andeveryone says there may be some
(13:07):
limitations with real estate.
Yes, but real estate for manypeople is a vehicle to another
place, because real estate iswhere you literally meet.
You can meet regular averageJoes.
You can meet millionaires.
You can meet billionaires Justdoing a real estate transaction.
You can go to these events.
For me, the biggest opportunityin real estate is just being
able to build quality, genuinerelationships with people that I
(13:27):
know that I can leverage laterdown the road, and that's what I
tell my team is like whateveryou're doing today is going to
work for you.
It's going to help you laterdown the road.
Yes, you may not see success,you know, in the next two weeks,
but you're trying to build asolid foundation to either
exponentially grow in realestate or go down a different
path.
Speaker 1 (13:48):
I like that.
I like that.
I think what is great aboutreal estate is that it's so
relationship driven, so thatit's very accessible to people.
There's also a very clearpathway, right it's?
You know, sign up for the test,prepare for 72 hours, take the
test, do the fingerprints, getyour MLS board, find a brokerage
(14:09):
, hang out there for at leasttwo years before you even think
about.
You know you can't just openyour own.
You know your own brokerage outof nowhere.
So it's accessible and there'sa pathway.
I think that's one of the thingswhere aviation falls short is
that there's not a clear pathway.
That's one of the reasons why,you know, with our, with our jet
life program, we have acertificate of completion or
(14:31):
certification, whatever you wantto call it.
You know it's.
It's a pathway where it's likethese are the skills that you
need to demonstrate in order tohave a professional, ethical,
successful transaction in theaviation world.
So so and I think it's acrossmost sales that uniqueness is
(14:53):
limited because everybody saysI'll have people reach out to me
hey, tom, I'm struggling to getthis contract signed and I'm
like, okay, well, why shouldsomebody list their aircraft
with you?
Well, because I'm going to selltheir plane for them, well, so
will everybody else.
Or because I'm a really niceguy, well so is everybody else.
You know what I mean.
They come up with these reasonsthat are not very unique
because they're afraid to dig orthey're not capable of, at this
(15:16):
point, digging deeper to saywhat really makes you unique and
stand out.
It's hard to stand out and thegrind.
I totally get what you'resaying, that it's a hamster
wheel.
You always have to keep yourfunnel full and that becomes the
same in aviation.
But, like you said, you buildthose relationships.
So I understand what you'resaying and I think there's good
(15:40):
reasons to check out real estate.
There's good reasons, I think,for aviation as well, because
they're very similar.
If you're interested in realestate, it's worth looking into
aviation, and I think whereyou're going to fail, where you
might succeed at real estate andwhere you would fail on
aviation is going to be realestate is very down to earth.
We all have a house.
We can all wrap our mindsaround taxes, local school
(16:03):
districts.
I like granite countertop.
We all have a lived experienceof homes, even if they're
million-dollar homes.
A door is a door, a toilet is atoilet.
There's an analogy there, butwith aviation.
You may have never flown in aprivate jet before, and so how
do you wrap your head aroundthat?
(16:24):
You never had to understandwhat avionics do, what GPS,
comms and navigation radios do,what does ADS-B transponder do?
So there's a little bit of alearning curve there and,
depending on what your lifeexperience has been, maybe
you're not used to talking withhigh net worth individuals.
(16:44):
You're not used to getting a nofirst and then getting like 20
no's before you actually getsomeone to talk to you, and so
there's definitely challengesthere.
But that's exactly what we tryto do, and help with the Circle
community.
So, noah, tell us a littleabout, I guess, as we start to
wrap up a little bit.
We talked about what the realestate pathway looks like.
(17:06):
We talked about how to get intoit, the difference between real
estate, real agents, realtors,brokers, that sort of a thing,
limitations of real estate, thepositives of real estate.
Now we're getting into thecustom home building.
Why, in your opinion, is customhome building?
I don't know.
Do you think it's the future ofwhere things are going, or do
(17:27):
you just see that people aregetting sick and tired of the
cookie cutter stuff?
Where's the opportunity in thecustom home building niche that
drew your attention to it.
Speaker 2 (17:38):
Yeah, so that's the beauty of being able to be a
residential real estate agent,is you see the trends right?
So I can leverage that.
On the custom home buildingside, and especially during this
past hurricane, hurricaneHelene it's really actually
making people rethink howthey're going to be building in
the future.
Right, and these homes, youknow that, are older, maybe 20
plus years old.
(17:59):
They may not be up to yourtypical Florida building codes
now, with FEMA elevations beingraised, everything like that,
and for me, I personallystrongly believe that a lot of
these homes are going to beeither fixed up and flipped or
or they're going to be torn downand rebuilt, but to a higher
elevation, and I just think thatconstruction is going to be the
(18:20):
new Custom home building isgoing to be the new future, so
to speak.
Yes, everyone loves theseamazing track home communities
here in Sarasota love these hugedevelopments during the
pandemic.
But my buyer clientele hascompletely shifted now ever
since the pandemic has finishedup and they're like they don't
want to be in a traditionalcookie cutter house anymore.
They were fine being in thatduring the pandemic because they
(18:42):
were just happy to get into ahouse, but now that they have
options, they're really thinkinglike do I really want to be 10
feet away from my neighbor,reach out my window door and
actually grab something out oftheir window?
That is legitimately the mainquestions that we're getting
right now.
And people moving out of thesetrack home communities and
trying to focus on something alittle bit more custom and I
(19:04):
think, going onto these barrierislands where the hurricanes had
hit, we're definitely going tosee these homes being built up,
you know, maybe 15, 20 feet inthe air, instead of being the
first floor elevation where theybasically got seven foot of
storm surge and their wholeentire first floor is
annihilated.
Speaker 1 (19:20):
Yeah, I think, when you think about cookie cutter at
best, if we want to grant asmuch grace, you know, towards
developers and builders andstuff like that, we don't want
to villainize them At bestthey're trying to get as many
people into a desirable locationas possible.
Great, okay, cool.
At worst, though, it's reallyabout the developer, the builder
(19:46):
and the profit With the customhomes.
I think you have, and again,generalizations, but what I like
about the custom homes?
I think you have, I think, andagain generalizations, but what
I like about the custom homes isthat it brings the, the, the
real estate experience, backinto the, the hands of the
owners.
I mean so much pride and and somuch pride and a sense of
(20:13):
accomplishment I think was made,you know, when people first
started moving to areas.
You know, how many times do youhear in the, in the older areas,
like my grandfather built thishouse with his bare hands.
You know, um, what you're doingis you're giving people the
opportunity to experience thatsense of people, the opportunity
(20:36):
to experience that sense of webuilt this, we built this house,
um, but of course, withouthaving to um, literally get a
hammer and nail, because I wouldhave no idea how to build a
house and it would just, youknow, the first, uh, the, the
first little wind of, of thehurricane you know it's just
going to be, there's somebodysneeze and all of a sudden the
roof's going to come off, uhtype of thing of thing.
But you're giving people thatopportunity to put a little bit
of themselves.
It becomes a piece of art, itbecomes a piece of who they are.
(21:00):
That's part of the humanexperience just to put ourselves
out into material and, what'smore, a part of your life and
the place that you're going tolive.
I might be getting toophilosophical here, but I just
think that there's a really coolmind shift that comes into
custom homes.
And let me just stop there.
(21:22):
I just think it's really coolwhat you're getting in.
Speaker 2 (21:24):
I'd like to add on to that really quick.
I've seen the differencebetween mainly all the custom
homes that we build.
The clients are literallysaying this is my last home that
I'm going to build and this isa home that I'm going to be able
to pass down to my kids or mygrandkids when I sell a track
home community.
Now, nothing's wrong with thetrack home because everyone it's
(21:46):
usually in an ideal location,right, and the price point's a
little bit different.
But I have not once heardsomeone say they are excited to
pass this down to their kids.
Speaker 1 (21:55):
I love that.
That's a great point.
Just out of curiosity and I'mhoping that we could dispel a
myth here but how accessible isa custom home For me?
I'm thinking like well, if Iwant a custom home, I better be
ready to drop a million dollars.
Can I get a custom home that'smore affordable than that?
Or is it really, unfortunatelyfor the big spenders?
Speaker 2 (22:19):
No, not at all.
The biggest thing is being ableto acquire the land.
The land is honestly going tobe the trickiest part.
It depends on where you are,but here in Sarasota the land is
what really drives up thesecustom home prices.
If you can find land moreaffordable, you can build a
(22:41):
custom home for $500,000 or justa little less, and it can still
feel like a quality home.
Once again, it just comes downto getting that land acquired
first.
Speaker 1 (22:46):
Perfect, cool.
Well, if people want to findout more about real estate
possibly joining your team ormaybe they're listening and they
need a custom home or they'relooking to custom homes when can
people find out moreinformation?
And just so you know we aregoing to answer I got two
questions in here, but where canpeople find out more
information about you, noah?
Speaker 2 (23:07):
No, of course.
I mean, the best way to connectwith me is reaching out through
Instagram, and you canobviously put the links wherever
you're going to put them.
Otherwise, if you guys want tolook at custom homes, our custom
home building company is JaneDevelopment Group.
You can just search that up inSarasota and you will be able to
find that, and then obviouslyyou can go to noelwargroupcom
and then that also has all mybrokerage information along with
(23:27):
our custom home buildingcompany.
Speaker 1 (23:29):
Perfect, perfect.
Well, let's check out somequestions real quick before we
let you go.
I've got Shahab over here.
Is talking about he's 32 yearsold, lost everything and
starting over, feels completelylost.
All he knows is sales, but he'sdone with the car sales.
What are your thoughts?
I imagine you've probablyworked with some people that
(23:51):
have some sales experience maybeeven car sales I have, so I can
definitely speak into what apath through aviation would look
like for a former carsalesperson.
But yeah, what are yourthoughts?
Speaker 2 (24:04):
Well, here's what I love about people that are in
car sales and I've dealt with acouple of them is that if they
already have that mindset, Ipersonally believe that car
sales you have to grind a lotmore because the commissions are
a lot less.
But if they already have thatwork ethic to be a car salesman,
I feel like the path to realestate is going to be fairly
easy.
(24:24):
Besides, obviously, taking thelicensing course and everything
like that, I just feel likebeing able to leverage your car
sales experience but justtransition that into maybe a
higher ticket item like sellinga house.
Now, obviously, aviation isgoing to be a little bit
different, because yourclientele is a lot different
than a car salesman versus anaviation client.
Speaker 1 (24:45):
Yeah, I think what I've noticed with the I had a
few guys with the car sales thegood news is that they're not
afraid of no.
They're used to no, so they'renot afraid of it.
The bad news is that theyforget the clientele that we're
working with.
Number one, it's a longer salescycle.
So with car sales usuallysomebody walks in, maybe it's
that day or maybe it's a week,maybe two weeks, whatever, and
then you can build a book ofbusiness if that's going to be
(25:06):
your career, and even in realestate, like you said, I mean
you're probably at least 30, 45,90 days of a sales cycle when
you're working with someone.
With aviation it seems as oflate.
I mean, we're getting listingsand once you get the listing, it
could be 69 to 120 days tillthe listing sells and it might
take you two months, threemonths to get the listing, so
(25:29):
you might not get a paycheck forsix months.
So that's kind of the thingthat they have to be aware of.
But I think there's definitelyopportunity in the aviation
world as well, when you'reworking with the right brokerage
and the right team, to kind oflead you down the path.
But it is a new thing thatyou're going to have to learn.
So that'll be kind of thehiccup of it.
(25:50):
So, yeah, no, I appreciate that.
We've got another question fromBen aviation sales or real
estate, which will be moreprofitable in the long run.
So here's what I can say anddefine long run my first year I
did six figures.
I made 100K.
Guys who are with me, so Noahand I were talking about right
(26:12):
now we've got 15 team memberswith JetLife Arrow who are
aspiring brokers, who arebrokers right now.
Right, the guy who's been withus the longest, alex, had
$60,000 in his bank account.
After six months he took hisfoot off the gas and that was
his first year.
Commission of 60K his firstyear.
He's due to close on a dealthis month, so that'll be his 18
(26:35):
months.
He'll make over 100 grand inhis commissions.
My second, third year, by mythird year.
That year I closed and tookhome almost $600,000 that third
year and that's just what I did.
So I can speak to that and thenI'll say now, five years into
(26:55):
it, you know my last two yearshave been closer to just a
hundred grand, but a lot of it'sgoing right back into into the
business.
So it's like we're making.
We feel like we're makingnothing at some point.
Uh but, but.
But we're doing all right.
And so you know, I think inaviation if you, if you do the
simple stuff, I think you shouldbe able to make 100 grand a
year.
That's my expectation.
But what I am finding is, withthe team and they'll be the
(27:19):
first to tell you they're notmaking 70 to 100 calls every
single day consistently for two,three, four, five weeks in a
row to generate what needs to bedone, and so that's kind of
where that lands.
So in the long run, my next andI like how Noah explained his
play he started real estateselling, then he got into the
(27:40):
custom home building.
So the long play for a broker,I think, is sell, build up a
nest egg and then start lookingin the investment world.
In aviation Can you find a fixand flip.
Can you put your money at staketo buy an airplane cheap.
Can you flip it up and make asix-figure commission on one
deal.
That's one way to do it.
(28:00):
Or you go into charteroperations.
There's a pathway.
So I would say aviation salesin the long run can be very
profitable from $100,000 to halfa million just as a broker per
year you can get that set up.
It'll take you a couple ofyears to do it, but I think it's
(28:21):
possible.
It is going to be a little bitof a hamster wheel, though, to
Noah's point earlier, depends onhow you build your book of
business.
Speaker 2 (28:28):
I'd like to add on that just really quick is I
think whether you're in aviationsales or if you're in real
estate, I mean buildingrelationships is going to be key
.
Like I'm not going to disclosebut like, yeah, I told you my
first year I made 40K, but afterthat year, my year two, year
three has exponentially grown,and that's aside from the custom
home building company.
Like I've closed multiple,seven or multiple, you know, six
(28:52):
figures in a year and sixfigures in one month.
Like it all came down to therelationships.
The relationships that I builtin year one are what really paid
off in year two and year threeand I think that happens in
aviation sales too.
I assume is what you do yourfirst year.
It doesn't matter if you make40 K, if you make a100K I'm
(29:12):
looking at it from a two tothree year perspective is
everything I do in my first yearis what is going to
exponentially grow me into yeartwo, year three, year four year
five.
Speaker 1 (29:21):
Love it, hayden, listen up, man.
That's great though.
That's really encouraging andthat's.
I think you're absolutely right, I didn't think of it that way,
but I try to get these guys totheir first year.
Like 100k, like that's thecarrot that we're dangling at
the end of the stick.
But but to your point, like,even if you don't reach that,
like the skills that you learnand acquire along the way is
what's going to feed you, makeyou capable of those big deals,
(29:44):
uh, in in the, in next years?
Um, I love that.
Um, that's great.
I'll figure if you uh, here's aquestion, uh, from an investor
side is is it possible to doboth?
I mean, I guess it's more of atime management thing and
resources, but it comes down torelationships.
So I think it's tough whenpeople ask me if I can do both.
Whether it's can I work as ajet broker part-time, or can I
(30:07):
get another job or whatever I'musually like depends on your
expectations.
Speaker 2 (30:12):
I'd like to add on that, because I've always been
fascinated by the broker or bythe jet broker world myself, and
I was even thinking aboutgetting into jet brokering as a
side thing.
But at the end of the day itquestions okay, what I do with
the jet broker side, is thatgoing to take away from what I'm
doing with my real estate side?
And the answer to that is yes.
Am I willing to sacrifice whatI'm doing and what I've built up
(30:33):
for the past three years inreal estate to then do something
else in the jet broker side?
And to my point, it's no.
But some people can be a littlebit different.
But you're stretching yourselfinto two different paths when
you can just literally go all inon one industry and then have
different segments and differentbranch stops, like what I'm
doing right now.
Speaker 1 (30:52):
Yeah, I think it's better to go deep than go wide
when you're talking about yourincome until you get it under
control.
Once you get it under control,maybe you start real estate.
Maybe you start with abrokerage that encourages
building a team.
You get your team up andrunning and you can step back a
little bit so you're not doingas many deals, but you can still
service your team.
And now you have 5, 10, 15hours a week that you can go
(31:15):
over here and do custom homebuilding or you can do whatever
else, but one step at a time.
I wouldn't try to do both rightaway.
Oh, here's a good one.
Does aviation sales getaffected by the economy, just
like real estate?
How is real estate right nowwith the economy?
Speaker 2 (31:33):
Yeah, that's why I love being in the construction
industry along with real estatesales, because here's the thing
is that real estate sales can bevery up and down.
Very huge waves, like when ahurricane hits, real estate
slows down in this whole entirearea, like when Ian hit.
It was completely slow, if youthink about it, and right now
(31:53):
the hurricane hits, so peopleare obviously rebuilding, which
that's when our constructioncompany goes in.
And so, even though a hurricaneis a terrible event, real
estate sales may struggle just alittle bit because people are a
little weary, but thenconstruction starts to pick up.
So for me that's why I put myhands in 2 different pots,
because real estate sales go upand down.
(32:15):
You may have a 6-figure month,you may then have a $0 month I
would know because I've had thathappen to me and so it's very
up and down.
But, once again, even in a badmarket, you just have to work
harder.
So if you want your income tobe as steady as possible, you
may just work less one monthbecause it's a little bit easier
, but when the market goes down,you just work harder and you
(32:36):
can make the exact same income.
Speaker 1 (32:43):
Louder for the people in the back, please.
That's what I'm telling people.
We look at the trends and, Ben,to your question, last year was
the slowest year since 2009, Ibelieve.
And if you look at thequarterly transactions like 600
in the first quarter, 800 in thesecond quarter, 900 in the
third quarter, 1,000transactions in the fourth
(33:03):
quarter we are trending like itwas in 2008, 2009.
But the good news is that itstill trended positive.
So it slacked off and then itdipped a little bit from 2008,
2009,.
But then from 2009 up, it justkept going up.
(33:24):
The number of transactionscontinued to.
There was never a big dip.
So, for example, if last yearthere were let's see, let's just
say, seven times four 2,800transactions, the worst year
before that was maybe 2,500transactions.
Okay, so we're not talking likea complete.
(33:46):
The market totally shut down.
And when we look at it thisyear, yeah, it was a slow first
quarter, Second quarter, I thinkit was like 600, 700, no 600,
600.
It popped in the third quarterto 800.
So we're even different there.
So, as far as how aviation istied to the economy, yeah,
(34:08):
things will slow down.
Yeah, if the banks aren'tlending money, there's going to
be less transactions because theinterest rates are high.
If it's an election year,people don't know how they're
going to.
You know how they're going tofavor or not favor aviation,
whether it's on climate stuff,or it's on taxing stuff,
whatever, whatever.
But you just got to workthrough it to Noah's point, Like
(34:30):
you just know that it's goingto be a little tougher.
And you got to step up and doit.
And, dude, I'm so sorry to keep, I just do it and dude, I'm so
sorry to keep.
You're all.
Good, I got time, we're fine.
Okay, cool, ben's just firingaway with these great questions
and I think this is the last one.
But the good thing about realestate there's more houses to
sell than jets.
What do you think about that?
Speaker 2 (34:49):
So my only theory is a house is an everyday I
shouldn't say an everyday item,but it's going to be a main
staple for most people here inthe United States.
A house is something thatpretty much most people could
obtain right and, however, thehousing market is strictly tied
to how well the economy is doing, because having a jet, in my
(35:13):
opinion, is an ultra luxury orit's a luxury right.
So it's an additional thingthat, yes, it gets impacted by
the economy, but I don't feellike you would get impacted as
much as real estate, becausereal estate is what an everyday
Joe is going to buy.
An everyday Joe is not going tobuy a private jet, so they
obviously have that extra moneyto spend, but when people in the
(35:33):
economy start struggling that'swhen real estate really starts
to struggle is because thoseeveryday joes are highly
impacted by inflation or wagecuts or whatever that may be
that impacts how much they canafford on a mortgage.
Speaker 1 (35:48):
No, that is an excellent point.
You think about the top 1% ofindividuals.
They either saw this coming orthey have hedged their bets to
where, if the economy goes south, they can find ways to make
money.
That's why they're in theposition that they're in, in
terms of more houses than jetsto sell.
Yes, that is true, ben, but Iwill say that when you look at
(36:11):
the numbers as far as I think, Iremember the numbers like 4
million real estate, let me knowwhat.
Let's just do this real quick.
I think the question I numberslike 4 million real estate, let
me know.
Let's just do this real quick.
I think the question I had washow many real estate
transactions in 2023?
Okay, so there were 4 milliontransactions.
How many real estate agents in2023?
(36:32):
And then it came up with let'ssee one point there's 360
brokerages, 1.54 millionrealtors.
So if we do 1.5 and then 4million, so that would end up
(36:54):
being what?
4 by 1.5.
That's like two houses, threehouses per agent, but they're
not all active, right?
How many active?
Oh, great, and my Bluetoothshut down.
I think when we do the math,it's about what would you guess?
Speaker 2 (37:16):
Active real estate agents 10% of it like honestly.
Speaker 1 (37:23):
Real estate agents in the US 1.35 active, 2 million
license.
Okay.
So, oh, okay, here it is Okay.
So 4 million sales for 2million, that's two sales per
person, approximately 1.35.
So if we took yeah, that's whatI did, Okay.
So if we did 2 million, that'stwo, two sales per person,
approximately 1.35.
Uh, so if we took yeah, that'swhat I did, Okay.
(37:50):
So if we did 2 million, 2million and you times that by 5%
, that's a hundred thousand realestate agents.
So really, the real estateagents, if they had 4 million
sales and only a hundred000 ofthem were actually active, okay.
And then if you look at jets inthe world, it comes out to be
roughly the same is what I'mtrying to point out here is that
for as many houses as there arefor real estate agents, the
(38:13):
actual slice of the pie ofagents that got it.
It's the same for jet brokers,where there's so few jet brokers
and so few jets that theaverage active jet broker is
getting two to three sales, twoto three transactions per year,
and that's average.
So in order to be above average, to get 10 or 20 sales a year,
(38:33):
you're only beating out about Ithink it was maybe a couple of
hundred people.
I'll have to find the Instagramthat I did, but it's
competitive.
You might think that there's asmaller pool of product, but
there's also a smaller pool ofpeople who are selling the
product, so you're still workingjust about the same.
It's not like there's moreopportunity, in my opinion.
(38:54):
I don't know if those numbersmake sense to you or not.
Speaker 2 (39:02):
No, and I also want to add to it doesn't matter how
many licenses or how manylicensees are out there in the
world, because most of themaren't active you really have to
focus on.
For example, there's 10% ofagents that are going to do most
of the production in the UnitedStates out of all the 2 million
, and probably it's the samewith jet brokers, but just a
different percentage.
It doesn't matter how manylicensees are out there, it's
how many licensees that areactually actively producing in
(39:24):
that given field, right.
Speaker 1 (39:25):
And then that's where I would give the advantage to
jet brokering, because to be inthe top percent of 4 million
real estate agents, you need tobeat out what is that?
400,000 or 40,000 people?
Yeah, out.
What is that?
400,000 or 40,000 people?
To be in the top 10% of 3,000jet brokers in the world, you
(39:46):
have to beat out 300 people.
I'd rather beat out 300 peoplethan 30,000.
So that's where yeah, I thinkthat's just a number thing that
I get the question a lot when Italk about real estate versus
jet brokered.
So I wanted to kind of havethat conversation with you.
But, noah, thank you so muchfor your time.
Is there anything else you wantto add before we close up shop?
(40:07):
Man?
Speaker 2 (40:08):
No, I mean we'll just have to come back for part two.
That's all I got to say.
Speaker 1 (40:12):
That sounds good.
Well, thank you so much, andwe'll catch you on part two.
Speaker 2 (40:17):
Fantastic.
Hello and welcome everybody to the Jet Life
Podcast.
My name is Tom Lelio and onthis channel, we pull back the
curtain.
Whether you're a buyer or anaspiring broker, we help you buy
and sell private jets withoutwasting time, losing money and
with no experience necessary.
Today we're pulling back thecurtain on real estate versus
aviation, and I'm very excitedto be introducing to you my
(00:23):
guest, noah Ward, who is a realestate broker, a custom home
builder and a content creatorextraordinaire.
You got so much stuff going onright now, noah.
I'm really excited to have youon the podcast today, so welcome
.
Speaker 2 (00:39):
Well, thank you very much for having me.
I can't wait to jam out aboutthis the broker life versus the
jet broker life.
Speaker 1 (00:46):
Yeah, exactly, I guess one of the first questions
I had what is?
I see real estate agents, I seerealtors, I see brokers, I see
builders.
Can you unpack that for us?
So again, I guess the mainaudience for today is anyone
that's thinking about a careerchange and they want to learn
more about aviation.
Possibly that's why they're onthis channel, but maybe they've
(01:06):
also been thinking about realestate, because everybody has
been bit with the real estatebug in the last couple of years.
So can you maybe unpack thedifferent roles that we can find
in real estate?
Speaker 2 (01:16):
Oh yeah, exactly.
So obviously I don't reallyknow the whole jet broker
lifestyle, but for real estatethere's different tiers
basically.
So typically in real estate youeither are a real estate agent
or you're a real estate broker.
So I hold a broker's license,I'm a broker associate under a
brokerage that I'm with.
I don't really have my ownbrokerage just yet, but I have
the license to be able to.
(01:37):
If I wanted to start mybrokerage today I could.
But that's not the first step.
The first step is just gettinga residential real estate
license.
You basically take a test, youdo all the pre-exam stuff and
then that's your first license.
And then here in the state ofFlorida you have to hold that
real estate license for twoyears or more before you even
(01:57):
can go do the practice exam anddo all the questions for the
broker's test.
And then obviously there'sother branches off from in real
estate.
Besides just having yourlicense is one you can go into
general contracting, which I amnow partners in a custom home
building company.
My general contracting partnerholds a license for it.
(02:18):
He doesn't have a real estatelicense, but he has a general
contracting license.
It's still in real estate.
He can't do residential sales,but he can do the custom home
building side and the remodelingside, where I traditionally
couldn't, which that's why, forme at least, it makes sense to
have that partnership with mygeneral contractor and then me,
who holds a real estate license.
Speaker 1 (02:38):
Gotcha, gotcha.
And so what's the differencebetween a real estate agent and
a realtor?
Speaker 2 (02:43):
It's honestly just your designation.
At this point it's paying tothe NAR, National Association of
Realtors Association to havethat designation of realtor.
Speaker 1 (02:52):
Gotcha Okay.
So ballpark, if you wanted toget into real estate, you don't
have any real estate background.
How much is it going to costyou and how long is it going to
take you to get up and runningto maybe your first sale?
Speaker 2 (03:07):
So obviously I wanted to expedite my process just a
little bit more, so I went allin.
I was spending eight to 10hours a day doing the
pre-licensing exam, becausethat's you know, I can't
remember if it's 72 hours herefor Florida.
So we have to go through acertain amount of time.
Yes, yeah, we have to study forover 72 hours.
In theory, you either can go doa crash course or do it online,
(03:29):
and then you can then go foryour real estate test from there
.
So, if you think about it, youcan knock that out in about a
week, give or take your on yourtimeframe, and then from there.
Then all we, what we have to dois you know, you got to wait to
do your fingerprints, which cantake a few weeks, and just
depending on the timeframe, andthen from there you just have to
apply for your MLS board, yourlocal board, and then obviously,
(03:52):
then you can, then you'reofficially licensed and you can
start practicing real estate.
So I would say in a matter of acouple of weeks you could have
it all knocked out, you couldhave going to real estate.
Now, getting your first sale isgoing to depend on your
connections.
Speaker 1 (04:05):
Okay, okay, so weeks for the certification.
Okay, or the license.
Is it a license orcertification?
Speaker 2 (04:11):
It's a license.
Speaker 1 (04:12):
Okay, so a license being something that you now
have the ability to practice, aspecific discipline, in this
case, residential real estatetransactions.
So a few weeks to the licenseand then getting your first deal
(04:33):
.
Are you usually warm leads,cold leads?
Does the brokerage give youleads?
Do you have to find it on yourown?
Do you just have a call list?
What does that actually looklike on your first 30, 60 days
as a real estate agent?
Speaker 2 (04:41):
Yeah, exactly.
So it's kind of tricky.
It all depends For me.
I personally moved fromWisconsin, moved down here to
Sarasota.
I did not know anyone, so I hadno idea which most agents rely
on.
When they get into the business, they start talking to their
friends saying hey, I'm an agent.
If you know anyone that'slooking to buy or sell, just let
me know.
That's literally the typicalspiel that any other agent will
(05:02):
do.
But for me I couldn't do that,so I leveraged video initially
when I got into real estate,when I first got my license.
So I created a YouTube videoand my experience is a little
bit unique because in my firstvideo, within the first couple
of days, I had someone call meand they're like hey, no, I'm
ready to, I want to go buy ahouse.
And within a week we wereshowing them houses.
That was exponentially quick.
(05:25):
How quick was that?
Speaker 1 (05:26):
What was that.
How quick was that for you then?
Speaker 2 (05:30):
That was within probably a week and a half, two
weeks, oh gosh.
Speaker 1 (05:34):
Okay, okay.
Speaker 2 (05:35):
Yeah, so my experience is a little bit
different, because thetraditional agent won't see
results.
Between 30 or I would say 45 to90 days is when you can expect
to maybe get a commission checkor work your way towards that
commission check.
Unless you already have a deepsphere, then maybe you can do it
within the first 30 days.
Speaker 1 (05:55):
Okay.
So there's guys out there thatwithin two weeks or whatever,
they get a listing.
If the market's hot, you startgetting under contract.
So by 45 to 90 days you haveyour first check.
What do you think the averagefirst year expectations for a
real estate agent should be?
Is it six figures?
Is that realistic?
(06:16):
Is that common or more or less?
Speaker 2 (06:20):
I'll tell you what I made in my first year.
I only made $40,000 in my firstyear of real estate.
I'll tell you what I made in myfirst year.
I only made $40,000 in my firstyear of real estate, not
knowing anyone.
I was 20 years old and Ithought it was pretty good for
my first year, being like, hey,I just got into the business
they did not know I was inMinnesota, right.
But honestly, I've seen peoplemake anywhere from $40,000 to
(06:42):
maybe $90,000 in their firstyear and then from there it's
just been exponential.
For me it's been exponentialyear over year over year.
It all just depends on yourmarketing at the end of the day,
but the first year is reallyjust you're trying to get your
balance into the market and whatyour unique selling proposition
is going to be, and so to make$40K, how much do you feel like
(07:03):
the average or you the averageperson is investing?
Speaker 1 (07:07):
I mean the real estate license, I think, is
around $2,000 to $3,000 when youinclude the course and stuff.
Is that right?
Speaker 2 (07:14):
So when you include all the courses, all the tests,
all the exams you're gettinginto the MLS board.
You're probably about $3,000 orso all in.
Speaker 1 (07:25):
Okay, getting started .
Okay, so $3,000 to get $40,000.
I mean that's not bad.
And then here's the problem.
Right, we're talking aboutaverage and when you have such a
big pool of real estate agentswhere I forget the number I have
, but I want to say only apercentage like 5% to 10% of
(07:47):
real estate agents would beconsidered active, they have
listings and they're actuallydoing stuff it might sound low
like oh yeah, 40k your firstyear, but there's a lot of
people dragging that down.
And then there's some peoplepulling up that average in the
first year Because, like yousaid I think you said you had a
team member that within theirfirst few months they were well
(08:07):
over 40 grand.
Is that right?
Speaker 2 (08:09):
Oh, yeah, exactly.
Speaker 1 (08:11):
Okay, okay.
So what got you into realestate and how long ago was that
?
Speaker 2 (08:19):
So I got into real estate back in 2021.
So for me, it was somethingthat I was looking at, like I
was looking at going into themedical field personally.
That was my right in highschool.
It was kind of the goingtowards the medical field.
But then, you know, I wassecond guessing like, is that
really something that I trulywant to do?
(08:41):
I knew that being in themedical field offered
limitations right, obviously, totiming, schedules, travel
flexibility, stuff like that.
And then so for me I was like,okay, what can I do?
that's going to offer me, intheory, an unlimited cap in
income and the most amount offlexibility, and for me that was
(09:01):
going to be real estate andwhat I look at real estate as is
.
I got into real estate becauseI knew that was going to be a
vehicle to a unique place.
I don't know what that place isyet because I'm still working
towards that, but I knew thatreal estate could open up many
doors that not other peoplecould do if you were working in
traditional jobs.
(09:22):
That's why I was like I knowthat real estate is going to be
the place that I'm going to do,or what I'm going to do, and
wherever that takes me, that'swhere it's going to lead me.
I've never closed offopportunities.
I've never said no toopportunities because, at the
end of the day, I'm like thisone opportunity could lead me to
down this other path which thatopportunity led me to going
(09:43):
into the new construction world.
Speaker 1 (09:44):
Yeah, yeah, so let's talk about that for a second.
What are some of thelimitations for the real estate
world?
That has you looking at customhome building?
Or maybe is also some of thereason why there might be so
many agents in the United Statesbut so few of them are active.
(10:06):
What are some of thelimitations that you've seen?
Speaker 2 (10:08):
So for me, the limitations are obviously every
agent.
So every agent says thatthey're unique.
In a sense, they offersomething that another agent
can't, and that's the biggestthing.
But if you break it down, weall offer pretty much everything
very similar to one another.
Now, sure, some people may haveunique marketing propositions.
(10:29):
At the end of the day, they'rejust paying to have someone else
promote a certain channeloutlet.
That's all it is at the end ofthe day.
For me, that was.
The limitation I saw was howmany houses and how many places
can you go around in one day totry to get a listing, to try to
show buyers around and so forth.
Your time is really constrainedto either sellers or buyers.
(10:53):
And so, yes, people can makeseven figures selling real
estate, but they are also justnonstop, always grinding in the
real estate world.
And for me it was like, yeah, Ican do that and that's what I
do, but I'd rather go downanother path to where I can be a
little bit more creative.
Real estate, to me, is notcreative at all.
(11:13):
You're basically put into a box.
As a real estate agent, youhave to follow certain laws,
certain rules, so you don'tviolate them and lose your
license.
With construction, you have alittle bit more creativity on
what products you can actuallyoffer someone Like.
If you came to me, you're likeno, I'm looking at building a
custom home.
Literally, the sky's the limit,you know, with designs and
architectural styles, stuff likethat.
(11:34):
But with real estate you know,you live here in Sarasota it's
just like most of these housesare the exact same, like they're
the exact same style, you know.
So when you're looking atbuying a house, it's not like oh
, I'm looking for this, it'sgoing to be very hard to find
that, but with custom homebuilding you can create that and
that's what I love about thecustom home building aspect.
Speaker 1 (11:54):
If somebody was looking into real estate, why so
?
I mean, there's somelimitations, and that's real,
but why would you encourage them?
Because I know you also, alongwith the custom home building,
along with your own real estateportfolio, you do have a team as
well.
Tell us a little about thataspect of it.
What inspired you to open up ateam, what do you like about
(12:17):
that and what are some of thepositives that you share with
your team about?
Like, hey, we're in a greatcareer right now as real estate
people.
Speaker 2 (12:26):
Of course, yeah, so I have a team.
I have a personal team that Iactually started here in
Sarasota locally, and then Ihave basically a countrywide
team, which basically is justagents that work with me and
partner with me within thebrokerage that I'm with and we
bounce ideas off of one another.
We're in different marketplaces,but then my local team here in
Sarasota that we have.
(12:47):
We obviously talk specificallyabout what's going on in the
Sarasota real estate world andwhat makes it so unique is I
love selling real estate inSarasota because of all the
opportunities that are there.
And everyone says there may besome limitations with real
estate.
Yes, that are there, andeveryone says there may be some
(13:07):
limitations with real estate.
Yes, but real estate for manypeople is a vehicle to another
place, because real estate iswhere you literally meet.
You can meet regular averageJoes.
You can meet millionaires.
You can meet billionaires Justdoing a real estate transaction.
You can go to these events.
For me, the biggest opportunityin real estate is just being
able to build quality, genuinerelationships with people that I
(13:27):
know that I can leverage laterdown the road, and that's what I
tell my team is like whateveryou're doing today is going to
work for you.
It's going to help you laterdown the road.
Yes, you may not see success,you know, in the next two weeks,
but you're trying to build asolid foundation to either
exponentially grow in realestate or go down a different
path.
Speaker 1 (13:48):
I like that.
I like that.
I think what is great aboutreal estate is that it's so
relationship driven, so thatit's very accessible to people.
There's also a very clearpathway, right it's?
You know, sign up for the test,prepare for 72 hours, take the
test, do the fingerprints, getyour MLS board, find a brokerage
(14:09):
, hang out there for at leasttwo years before you even think
about.
You know you can't just openyour own.
You know your own brokerage outof nowhere.
So it's accessible and there'sa pathway.
I think that's one of the thingswhere aviation falls short is
that there's not a clear pathway.
That's one of the reasons why,you know, with our, with our jet
life program, we have acertificate of completion or
(14:31):
certification, whatever you wantto call it.
You know it's.
It's a pathway where it's likethese are the skills that you
need to demonstrate in order tohave a professional, ethical,
successful transaction in theaviation world.
So so and I think it's acrossmost sales that uniqueness is
(14:53):
limited because everybody saysI'll have people reach out to me
hey, tom, I'm struggling to getthis contract signed and I'm
like, okay, well, why shouldsomebody list their aircraft
with you?
Well, because I'm going to selltheir plane for them, well, so
will everybody else.
Or because I'm a really niceguy, well so is everybody else.
You know what I mean.
They come up with these reasonsthat are not very unique
because they're afraid to dig orthey're not capable of, at this
(15:16):
point, digging deeper to saywhat really makes you unique and
stand out.
It's hard to stand out and thegrind.
I totally get what you'resaying, that it's a hamster
wheel.
You always have to keep yourfunnel full and that becomes the
same in aviation.
But, like you said, you buildthose relationships.
So I understand what you'resaying and I think there's good
(15:40):
reasons to check out real estate.
There's good reasons, I think,for aviation as well, because
they're very similar.
If you're interested in realestate, it's worth looking into
aviation, and I think whereyou're going to fail, where you
might succeed at real estate andwhere you would fail on
aviation is going to be realestate is very down to earth.
We all have a house.
We can all wrap our mindsaround taxes, local school
(16:03):
districts.
I like granite countertop.
We all have a lived experienceof homes, even if they're
million-dollar homes.
A door is a door, a toilet is atoilet.
There's an analogy there, butwith aviation.
You may have never flown in aprivate jet before, and so how
do you wrap your head aroundthat?
(16:24):
You never had to understandwhat avionics do, what GPS,
comms and navigation radios do,what does ADS-B transponder do?
So there's a little bit of alearning curve there and,
depending on what your lifeexperience has been, maybe
you're not used to talking withhigh net worth individuals.
(16:44):
You're not used to getting a nofirst and then getting like 20
no's before you actually getsomeone to talk to you, and so
there's definitely challengesthere.
But that's exactly what we tryto do, and help with the Circle
community.
So, noah, tell us a littleabout, I guess, as we start to
wrap up a little bit.
We talked about what the realestate pathway looks like.
(17:06):
We talked about how to get intoit, the difference between real
estate, real agents, realtors,brokers, that sort of a thing,
limitations of real estate, thepositives of real estate.
Now we're getting into thecustom home building.
Why, in your opinion, is customhome building?
I don't know.
Do you think it's the future ofwhere things are going, or do
(17:27):
you just see that people aregetting sick and tired of the
cookie cutter stuff?
Where's the opportunity in thecustom home building niche that
drew your attention to it.
Speaker 2 (17:38):
Yeah, so that's the beauty of being able to be a
residential real estate agent,is you see the trends right?
So I can leverage that.
On the custom home buildingside, and especially during this
past hurricane, hurricaneHelene it's really actually
making people rethink howthey're going to be building in
the future.
Right, and these homes, youknow that, are older, maybe 20
plus years old.
(17:59):
They may not be up to yourtypical Florida building codes
now, with FEMA elevations beingraised, everything like that,
and for me, I personallystrongly believe that a lot of
these homes are going to beeither fixed up and flipped or
or they're going to be torn downand rebuilt, but to a higher
elevation, and I just think thatconstruction is going to be the
(18:20):
new Custom home building isgoing to be the new future, so
to speak.
Yes, everyone loves theseamazing track home communities
here in Sarasota love these hugedevelopments during the
pandemic.
But my buyer clientele hascompletely shifted now ever
since the pandemic has finishedup and they're like they don't
want to be in a traditionalcookie cutter house anymore.
They were fine being in thatduring the pandemic because they
(18:42):
were just happy to get into ahouse, but now that they have
options, they're really thinkinglike do I really want to be 10
feet away from my neighbor,reach out my window door and
actually grab something out oftheir window?
That is legitimately the mainquestions that we're getting
right now.
And people moving out of thesetrack home communities and
trying to focus on something alittle bit more custom and I
(19:04):
think, going onto these barrierislands where the hurricanes had
hit, we're definitely going tosee these homes being built up,
you know, maybe 15, 20 feet inthe air, instead of being the
first floor elevation where theybasically got seven foot of
storm surge and their wholeentire first floor is
annihilated.
Speaker 1 (19:20):
Yeah, I think, when you think about cookie cutter at
best, if we want to grant asmuch grace, you know, towards
developers and builders andstuff like that, we don't want
to villainize them At bestthey're trying to get as many
people into a desirable locationas possible.
Great, okay, cool.
At worst, though, it's reallyabout the developer, the builder
(19:46):
and the profit With the customhomes.
I think you have, and again,generalizations, but what I like
about the custom homes?
I think you have, I think, andagain generalizations, but what
I like about the custom homes isthat it brings the, the, the
real estate experience, backinto the, the hands of the
owners.
I mean so much pride and and somuch pride and a sense of
(20:13):
accomplishment I think was made,you know, when people first
started moving to areas.
You know, how many times do youhear in the, in the older areas,
like my grandfather built thishouse with his bare hands.
You know, um, what you're doingis you're giving people the
opportunity to experience thatsense of people, the opportunity
(20:36):
to experience that sense of webuilt this, we built this house,
um, but of course, withouthaving to um, literally get a
hammer and nail, because I wouldhave no idea how to build a
house and it would just, youknow, the first, uh, the, the
first little wind of, of thehurricane you know it's just
going to be, there's somebodysneeze and all of a sudden the
roof's going to come off, uhtype of thing of thing.
But you're giving people thatopportunity to put a little bit
of themselves.
It becomes a piece of art, itbecomes a piece of who they are.
(21:00):
That's part of the humanexperience just to put ourselves
out into material and, what'smore, a part of your life and
the place that you're going tolive.
I might be getting toophilosophical here, but I just
think that there's a really coolmind shift that comes into
custom homes.
And let me just stop there.
(21:22):
I just think it's really coolwhat you're getting in.
Speaker 2 (21:24):
I'd like to add on to that really quick.
I've seen the differencebetween mainly all the custom
homes that we build.
The clients are literallysaying this is my last home that
I'm going to build and this isa home that I'm going to be able
to pass down to my kids or mygrandkids when I sell a track
home community.
Now, nothing's wrong with thetrack home because everyone it's
(21:46):
usually in an ideal location,right, and the price point's a
little bit different.
But I have not once heardsomeone say they are excited to
pass this down to their kids.
Speaker 1 (21:55):
I love that.
That's a great point.
Just out of curiosity and I'mhoping that we could dispel a
myth here but how accessible isa custom home For me?
I'm thinking like well, if Iwant a custom home, I better be
ready to drop a million dollars.
Can I get a custom home that'smore affordable than that?
Or is it really, unfortunatelyfor the big spenders?
Speaker 2 (22:19):
No, not at all.
The biggest thing is being ableto acquire the land.
The land is honestly going tobe the trickiest part.
It depends on where you are,but here in Sarasota the land is
what really drives up thesecustom home prices.
If you can find land moreaffordable, you can build a
(22:41):
custom home for $500,000 or justa little less, and it can still
feel like a quality home.
Once again, it just comes downto getting that land acquired
first.
Speaker 1 (22:46):
Perfect, cool.
Well, if people want to findout more about real estate
possibly joining your team ormaybe they're listening and they
need a custom home or they'relooking to custom homes when can
people find out moreinformation?
And just so you know we aregoing to answer I got two
questions in here, but where canpeople find out more
information about you, noah?
Speaker 2 (23:07):
No, of course.
I mean, the best way to connectwith me is reaching out through
Instagram, and you canobviously put the links wherever
you're going to put them.
Otherwise, if you guys want tolook at custom homes, our custom
home building company is JaneDevelopment Group.
You can just search that up inSarasota and you will be able to
find that, and then obviouslyyou can go to noelwargroupcom
and then that also has all mybrokerage information along with
(23:27):
our custom home buildingcompany.
Speaker 1 (23:29):
Perfect, perfect.
Well, let's check out somequestions real quick before we
let you go.
I've got Shahab over here.
Is talking about he's 32 yearsold, lost everything and
starting over, feels completelylost.
All he knows is sales, but he'sdone with the car sales.
What are your thoughts?
I imagine you've probablyworked with some people that
(23:51):
have some sales experience maybeeven car sales I have, so I can
definitely speak into what apath through aviation would look
like for a former carsalesperson.
But yeah, what are yourthoughts?
Speaker 2 (24:04):
Well, here's what I love about people that are in
car sales and I've dealt with acouple of them is that if they
already have that mindset, Ipersonally believe that car
sales you have to grind a lotmore because the commissions are
a lot less.
But if they already have thatwork ethic to be a car salesman,
I feel like the path to realestate is going to be fairly
easy.
(24:24):
Besides, obviously, taking thelicensing course and everything
like that, I just feel likebeing able to leverage your car
sales experience but justtransition that into maybe a
higher ticket item like sellinga house.
Now, obviously, aviation isgoing to be a little bit
different, because yourclientele is a lot different
than a car salesman versus anaviation client.
Speaker 1 (24:45):
Yeah, I think what I've noticed with the I had a
few guys with the car sales thegood news is that they're not
afraid of no.
They're used to no, so they'renot afraid of it.
The bad news is that theyforget the clientele that we're
working with.
Number one, it's a longer salescycle.
So with car sales usuallysomebody walks in, maybe it's
that day or maybe it's a week,maybe two weeks, whatever, and
then you can build a book ofbusiness if that's going to be
(25:06):
your career, and even in realestate, like you said, I mean
you're probably at least 30, 45,90 days of a sales cycle when
you're working with someone.
With aviation it seems as oflate.
I mean, we're getting listingsand once you get the listing, it
could be 69 to 120 days tillthe listing sells and it might
take you two months, threemonths to get the listing, so
(25:29):
you might not get a paycheck forsix months.
So that's kind of the thingthat they have to be aware of.
But I think there's definitelyopportunity in the aviation
world as well, when you'reworking with the right brokerage
and the right team, to kind oflead you down the path.
But it is a new thing thatyou're going to have to learn.
So that'll be kind of thehiccup of it.
(25:50):
So, yeah, no, I appreciate that.
We've got another question fromBen aviation sales or real
estate, which will be moreprofitable in the long run.
So here's what I can say anddefine long run my first year I
did six figures.
I made 100K.
Guys who are with me, so Noahand I were talking about right
(26:12):
now we've got 15 team memberswith JetLife Arrow who are
aspiring brokers, who arebrokers right now.
Right, the guy who's been withus the longest, alex, had
$60,000 in his bank account.
After six months he took hisfoot off the gas and that was
his first year.
Commission of 60K his firstyear.
He's due to close on a dealthis month, so that'll be his 18
(26:35):
months.
He'll make over 100 grand inhis commissions.
My second, third year, by mythird year.
That year I closed and tookhome almost $600,000 that third
year and that's just what I did.
So I can speak to that and thenI'll say now, five years into
(26:55):
it, you know my last two yearshave been closer to just a
hundred grand, but a lot of it'sgoing right back into into the
business.
So it's like we're making.
We feel like we're makingnothing at some point.
Uh but, but.
But we're doing all right.
And so you know, I think inaviation if you, if you do the
simple stuff, I think you shouldbe able to make 100 grand a
year.
That's my expectation.
But what I am finding is, withthe team and they'll be the
(27:19):
first to tell you they're notmaking 70 to 100 calls every
single day consistently for two,three, four, five weeks in a
row to generate what needs to bedone, and so that's kind of
where that lands.
So in the long run, my next andI like how Noah explained his
play he started real estateselling, then he got into the
(27:40):
custom home building.
So the long play for a broker,I think, is sell, build up a
nest egg and then start lookingin the investment world.
In aviation Can you find a fixand flip.
Can you put your money at staketo buy an airplane cheap.
Can you flip it up and make asix-figure commission on one
deal.
That's one way to do it.
(28:00):
Or you go into charteroperations.
There's a pathway.
So I would say aviation salesin the long run can be very
profitable from $100,000 to halfa million just as a broker per
year you can get that set up.
It'll take you a couple ofyears to do it, but I think it's
(28:21):
possible.
It is going to be a little bitof a hamster wheel, though, to
Noah's point earlier, depends onhow you build your book of
business.
Speaker 2 (28:28):
I'd like to add on that just really quick is I
think whether you're in aviationsales or if you're in real
estate, I mean buildingrelationships is going to be key
.
Like I'm not going to disclosebut like, yeah, I told you my
first year I made 40K, but afterthat year, my year two, year
three has exponentially grown,and that's aside from the custom
home building company.
Like I've closed multiple,seven or multiple, you know, six
(28:52):
figures in a year and sixfigures in one month.
Like it all came down to therelationships.
The relationships that I builtin year one are what really paid
off in year two and year threeand I think that happens in
aviation sales too.
I assume is what you do yourfirst year.
It doesn't matter if you make40 K, if you make a100K I'm
(29:12):
looking at it from a two tothree year perspective is
everything I do in my first yearis what is going to
exponentially grow me into yeartwo, year three, year four year
five.
Speaker 1 (29:21):
Love it, hayden, listen up, man.
That's great though.
That's really encouraging andthat's.
I think you're absolutely right, I didn't think of it that way,
but I try to get these guys totheir first year.
Like 100k, like that's thecarrot that we're dangling at
the end of the stick.
But but to your point, like,even if you don't reach that,
like the skills that you learnand acquire along the way is
what's going to feed you, makeyou capable of those big deals,
(29:44):
uh, in in the, in next years?
Um, I love that.
Um, that's great.
I'll figure if you uh, here's aquestion, uh, from an investor
side is is it possible to doboth?
I mean, I guess it's more of atime management thing and
resources, but it comes down torelationships.
So I think it's tough whenpeople ask me if I can do both.
Whether it's can I work as ajet broker part-time, or can I
(30:07):
get another job or whatever I'musually like depends on your
expectations.
Speaker 2 (30:12):
I'd like to add on that, because I've always been
fascinated by the broker or bythe jet broker world myself, and
I was even thinking aboutgetting into jet brokering as a
side thing.
But at the end of the day itquestions okay, what I do with
the jet broker side, is thatgoing to take away from what I'm
doing with my real estate side?
And the answer to that is yes.
Am I willing to sacrifice whatI'm doing and what I've built up
(30:33):
for the past three years inreal estate to then do something
else in the jet broker side?
And to my point, it's no.
But some people can be a littlebit different.
But you're stretching yourselfinto two different paths when
you can just literally go all inon one industry and then have
different segments and differentbranch stops, like what I'm
doing right now.
Speaker 1 (30:52):
Yeah, I think it's better to go deep than go wide
when you're talking about yourincome until you get it under
control.
Once you get it under control,maybe you start real estate.
Maybe you start with abrokerage that encourages
building a team.
You get your team up andrunning and you can step back a
little bit so you're not doingas many deals, but you can still
service your team.
And now you have 5, 10, 15hours a week that you can go
(31:15):
over here and do custom homebuilding or you can do whatever
else, but one step at a time.
I wouldn't try to do both rightaway.
Oh, here's a good one.
Does aviation sales getaffected by the economy, just
like real estate?
How is real estate right nowwith the economy?
Speaker 2 (31:33):
Yeah, that's why I love being in the construction
industry along with real estatesales, because here's the thing
is that real estate sales can bevery up and down.
Very huge waves, like when ahurricane hits, real estate
slows down in this whole entirearea, like when Ian hit.
It was completely slow, if youthink about it, and right now
(31:53):
the hurricane hits, so peopleare obviously rebuilding, which
that's when our constructioncompany goes in.
And so, even though a hurricaneis a terrible event, real
estate sales may struggle just alittle bit because people are a
little weary, but thenconstruction starts to pick up.
So for me that's why I put myhands in 2 different pots,
because real estate sales go upand down.
(32:15):
You may have a 6-figure month,you may then have a $0 month I
would know because I've had thathappen to me and so it's very
up and down.
But, once again, even in a badmarket, you just have to work
harder.
So if you want your income tobe as steady as possible, you
may just work less one monthbecause it's a little bit easier
, but when the market goes down,you just work harder and you
(32:36):
can make the exact same income.
Speaker 1 (32:43):
Louder for the people in the back, please.
That's what I'm telling people.
We look at the trends and, Ben,to your question, last year was
the slowest year since 2009, Ibelieve.
And if you look at thequarterly transactions like 600
in the first quarter, 800 in thesecond quarter, 900 in the
third quarter, 1,000transactions in the fourth
(33:03):
quarter we are trending like itwas in 2008, 2009.
But the good news is that itstill trended positive.
So it slacked off and then itdipped a little bit from 2008,
2009,.
But then from 2009 up, it justkept going up.
(33:24):
The number of transactionscontinued to.
There was never a big dip.
So, for example, if last yearthere were let's see, let's just
say, seven times four 2,800transactions, the worst year
before that was maybe 2,500transactions.
Okay, so we're not talking likea complete.
(33:46):
The market totally shut down.
And when we look at it thisyear, yeah, it was a slow first
quarter, Second quarter, I thinkit was like 600, 700, no 600,
600.
It popped in the third quarterto 800.
So we're even different there.
So, as far as how aviation istied to the economy, yeah,
(34:08):
things will slow down.
Yeah, if the banks aren'tlending money, there's going to
be less transactions because theinterest rates are high.
If it's an election year,people don't know how they're
going to.
You know how they're going tofavor or not favor aviation,
whether it's on climate stuff,or it's on taxing stuff,
whatever, whatever.
But you just got to workthrough it to Noah's point, Like
(34:30):
you just know that it's goingto be a little tougher.
And you got to step up and doit.
And, dude, I'm so sorry to keep, I just do it and dude, I'm so
sorry to keep.
You're all.
Good, I got time, we're fine.
Okay, cool, ben's just firingaway with these great questions
and I think this is the last one.
But the good thing about realestate there's more houses to
sell than jets.
What do you think about that?
Speaker 2 (34:49):
So my only theory is a house is an everyday I
shouldn't say an everyday item,but it's going to be a main
staple for most people here inthe United States.
A house is something thatpretty much most people could
obtain right and, however, thehousing market is strictly tied
to how well the economy is doing, because having a jet, in my
(35:13):
opinion, is an ultra luxury orit's a luxury right.
So it's an additional thingthat, yes, it gets impacted by
the economy, but I don't feellike you would get impacted as
much as real estate, becausereal estate is what an everyday
Joe is going to buy.
An everyday Joe is not going tobuy a private jet, so they
obviously have that extra moneyto spend, but when people in the
(35:33):
economy start struggling that'swhen real estate really starts
to struggle is because thoseeveryday joes are highly
impacted by inflation or wagecuts or whatever that may be
that impacts how much they canafford on a mortgage.
Speaker 1 (35:48):
No, that is an excellent point.
You think about the top 1% ofindividuals.
They either saw this coming orthey have hedged their bets to
where, if the economy goes south, they can find ways to make
money.
That's why they're in theposition that they're in, in
terms of more houses than jetsto sell.
Yes, that is true, ben, but Iwill say that when you look at
(36:11):
the numbers as far as I think, Iremember the numbers like 4
million real estate, let me knowwhat.
Let's just do this real quick.
I think the question I numberslike 4 million real estate, let
me know.
Let's just do this real quick.
I think the question I had washow many real estate
transactions in 2023?
Okay, so there were 4 milliontransactions.
How many real estate agents in2023?
(36:32):
And then it came up with let'ssee one point there's 360
brokerages, 1.54 millionrealtors.
So if we do 1.5 and then 4million, so that would end up
(36:54):
being what?
4 by 1.5.
That's like two houses, threehouses per agent, but they're
not all active, right?
How many active?
Oh, great, and my Bluetoothshut down.
I think when we do the math,it's about what would you guess?
Speaker 2 (37:16):
Active real estate agents 10% of it like honestly.
Speaker 1 (37:23):
Real estate agents in the US 1.35 active, 2 million
license.
Okay.
So, oh, okay, here it is Okay.
So 4 million sales for 2million, that's two sales per
person, approximately 1.35.
So if we took yeah, that's whatI did, Okay.
So if we did 2 million, that'stwo, two sales per person,
approximately 1.35.
Uh, so if we took yeah, that'swhat I did, Okay.
(37:50):
So if we did 2 million, 2million and you times that by 5%
, that's a hundred thousand realestate agents.
So really, the real estateagents, if they had 4 million
sales and only a hundred000 ofthem were actually active, okay.
And then if you look at jets inthe world, it comes out to be
roughly the same is what I'mtrying to point out here is that
for as many houses as there arefor real estate agents, the
(38:13):
actual slice of the pie ofagents that got it.
It's the same for jet brokers,where there's so few jet brokers
and so few jets that theaverage active jet broker is
getting two to three sales, twoto three transactions per year,
and that's average.
So in order to be above average, to get 10 or 20 sales a year,
(38:33):
you're only beating out about Ithink it was maybe a couple of
hundred people.
I'll have to find the Instagramthat I did, but it's
competitive.
You might think that there's asmaller pool of product, but
there's also a smaller pool ofpeople who are selling the
product, so you're still workingjust about the same.
It's not like there's moreopportunity, in my opinion.
(38:54):
I don't know if those numbersmake sense to you or not.
Speaker 2 (39:02):
No, and I also want to add to it doesn't matter how
many licenses or how manylicensees are out there in the
world, because most of themaren't active you really have to
focus on.
For example, there's 10% ofagents that are going to do most
of the production in the UnitedStates out of all the 2 million
, and probably it's the samewith jet brokers, but just a
different percentage.
It doesn't matter how manylicensees are out there, it's
how many licensees that areactually actively producing in
(39:24):
that given field, right.
Speaker 1 (39:25):
And then that's where I would give the advantage to
jet brokering, because to be inthe top percent of 4 million
real estate agents, you need tobeat out what is that?
400,000 or 40,000 people?
Yeah, out.
What is that?
400,000 or 40,000 people?
To be in the top 10% of 3,000jet brokers in the world, you
(39:46):
have to beat out 300 people.
I'd rather beat out 300 peoplethan 30,000.
So that's where yeah, I thinkthat's just a number thing that
I get the question a lot when Italk about real estate versus
jet brokered.
So I wanted to kind of havethat conversation with you.
But, noah, thank you so muchfor your time.
Is there anything else you wantto add before we close up shop?
(40:07):
Man?
Speaker 2 (40:08):
No, I mean we'll just have to come back for part two.
That's all I got to say.
Speaker 1 (40:12):
That sounds good.
Well, thank you so much, andwe'll catch you on part two.
Speaker 2 (40:17):
Fantastic.
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