November 8, 2024 • 53 mins
Discover the essential strategies for navigating today's real estate market with our special guest, Marjorie Adam, a seasoned realtor and business coach with 28 years of experience. Marjorie sheds light on her journey and shares insights on the recent shifts impacting buyer agency due to the NAR settlement. Learn how focusing on buyer services can set you apart in a market increasingly skewed towards listings and understand the necessity of evolving compensation structures to stay competitive.
We emphasize the significance of nurturing client relationships and offering top-notch services, such as reliable home renovation management, to ensure client satisfaction. The episode tackles the often misunderstood complexities of real estate fees, comparing them to more traditional legal fees, and offers strategies for realtors to better articulate their unique value proposition. Marjorie encourages real estate professionals to adopt a growth mindset, highlighting the importance of continuous learning and collaboration with lenders and other industry partners to enhance the client experience.
Building an authentic personal brand and fostering a network of supportive professionals are crucial themes as we discuss overcoming challenges through partnership rather than competition. From understanding real estate lawsuits to maintaining seamless communication with lenders, we cover it all. Marjorie and I delve into the importance of staying informed and adaptable, sharing experiences and humor along the way. Join us for an episode packed with actionable insights and inspiration to help you thrive in today's ever-changing real estate landscape.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
all right, welcome back everybody to the secret
sauce podcast.
I'm chad trees here with myamazing host, as always, lacy
moores, and we're super excitedtoday because we're joined by a
realtor, extraordinaire teamleader, business coach.
We've heard her speak multipletimes.
She's just amazing.
(00:31):
Not in our market, so not tohopefully step on anybody's toes
, we're in Kansas City andMarjorie, without further ado,
let's introduce Marjorie, adamand you're East Coast.
Speaker 2 (00:44):
Yes, no, worries everyone, I'm in Charlottesville
Virginia.
Nobody else listening is fromCharlottesville Virginia right
now mostly.
Speaker 1 (00:51):
Yeah, but you get it and you coach realtors all over
the country.
You've got a history incoaching for years and years and
years, right, and so, yeah, wewant to dive in on some stuff
today.
Like I said, lacey, and I haveheard you speak multiple times
now and you always bring it and,um, yeah, we thought what
better way than to bring you onand, uh, learn a little bit
(01:12):
about your secret sauce?
Um, a lot of what you've beentalking about lately has been
the whole NAR settlement, whichis, you know, um relevant, but,
um, we can talk about that alittle bit, but maybe not get
too far in the weeds on it.
Lacey, where do you think weshould start?
We've been talking about this.
Where do you want to start?
Speaker 3 (01:32):
Well, marjorie, will you just give everybody a little
rundown about you've been acoach, like Chad said, forever,
but tell us a little bit aboutthat and what's really been your
biggest, how long you've beenin the business and kind of
where your business changed themost.
Speaker 2 (01:46):
Yeah, so I'm.
Thank you so much.
So I'm a realtor inCharlottesville, Virginia.
I have a very small team, threepeople in me.
I've been a realtor for 28years.
I got into real estate becausemom was a realtor and,
ironically, I thought I'll neverbe a realtor because mom was a
realtor and then I went intobusiness with her.
I now work with my brother, sovery family, oriented, family
business.
(02:07):
I think I've watched.
Look, I've been through all themarkets.
I started right 28 years agoand rates were.
I got my first mortgage was 8%for an FHA and I was stressed
out for my $118,000 townhousethat doesn't exist anymore and
really have seen all the marketsright.
I lived through very painfullythe 2007 and on market and
(02:30):
certainly was really preparedfor this shift, which I think
you know.
The settlements are probably oneof the biggest shifts we've
seen on our side of the businessever, maybe in terms of since
buyer agency started in the1990s.
I think this is a massiveopportunity and I think too many
people are.
We were joking, lacey.
We were joking about readingthe book who Moved my Cheese.
(02:51):
Read it, but your cheese hasbeen moved.
Just so you know, your cheesestarted moving about a year ago.
If you're a realtor, yourcheese is fully gone now.
So I think you need to adaptand just you listen.
If you're still stuck, the timeis gone.
I think anyone who says they'renot going to evolve, you better
be reading the news.
You watch the attorney who isthe big sits or banana attorney.
(03:13):
If you pay attention, and you,if you're a realtor and you're
not looking at Inman and all thenews sources, you're missing
out.
And they are watching you andthey big brother is here, right,
doj and the attorneys.
You think they made hundreds ofmillions and they're done.
They're not.
So they are literally watching.
What do our forms look like?
Are we implementing?
Are you getting your buyeragency agreement signed?
(03:34):
So, are you creating workaroundwebsites?
Are you just not going to shiftcompensation and how it's done?
And so I think the people havespent a year thinking, oh, it'll
never happen.
Now it's happened and we just Ithink the people have spent a
year thinking, oh, it'll neverhappen.
Now it's happened and we justneed to roll with it.
It is here and it's going to bethe future and we have to, you
know, adapt to it and workthrough it.
Speaker 1 (03:54):
Yeah, right, right on , go ahead, lacey.
Speaker 3 (03:57):
Well, so one of the things that you were speaking,
you just spoke at our event.
Speaker 2 (04:17):
And you know, one of the things that really resounded
with me is you said that somany people are going to be
running towards listings and yousaid you're goingman conference
in New York in February.
I just got back from aconference that was less
industry specific, but I thinkwe go to the industry
conferences that are reallyimportant, but we don't innovate
or evolve in one.
We just sort of group think,which is good, but it puts us in
(04:39):
the herd and I think right now,if you listen to the news and
what everyone's saying, it's theherd.
Mentality right now is oh boy,how am I going to get paid for
working with buyers which Ithink is ironic, because you're
going to get paid pretty muchlike you always did but how is
that going to work?
So you know what we're allgoing to focus on listings.
And don't get me wrong in realestate listers last, you want
(05:00):
listings.
It doesn't mean I will be justthrowing my listings away, but I
want everyone to think aboutthis.
If everyone in the industry, ifall the realtors that make it
all say I've got to focus onlistings, one, that means a
whole lot of people going afterone smaller segment of the
market until the market changes,which also means much more
competition, which will resultin prices.
(05:20):
Right, if everyone needs alisting, the commissions will go
down.
And so to me it's like okay, ifthe whole herd says I'm going
to ignore these buyers, I amgoing to go anti-herd and I'm
going to go hard on buyerspecialization and taking better
care and offering more serviceto buyers, because why would I
want to chase after the smallestpiece of pie?
Speaker 1 (05:41):
Yeah, I love it.
Yeah, I mean I think, on thatnote, you know buyers are.
What we've all been hearing isthat to work with buyers, you've
got to have a super definedvalue proposition.
Right, you've got to be unique,you've got to be able to speak
to your value, and I thinkthat's where people are
struggling.
A lot of realtors arestruggling right now as they've
(06:03):
been hammered that message homeand maybe they're going to work
with sellers because you don'tnecessarily need to have as
defined of a value propositionor be as unique.
What do you think about that?
Speaker 2 (06:15):
That is great.
Here's the thing again.
So we're you know already themarket has changed.
We have fewer sales, so they'resaying there'll be about 4
million nationally sales thisyear.
Fewer sales so they're sayingthere'll be about 4 million
nationally sales this year.
They're projecting that againnext year.
So if everyone's waiting fornext year for many more sales, I
think you're going to keepwaiting.
So if we look at that, thepiece of the pie is smaller.
And also think about you.
Don't think the sellers arealso saying hey, these lawsuits
(06:37):
are all about, by the way, how Iwas paying you and the other
realtor a lot of money and now Idon't have to and, by the way,
I don't have to pay you that andwhat are you doing for your
money?
And the biggest issue is, as Itravel across the country and
teach and speak and learn fromrealtors because I'm a journal
student, I have a lot to learn.
So let's be clear.
I've just paid a lot ofattention to this I hear oh, I
(07:06):
get 3%, I'm just going to get 3%.
Dream on pumpkin.
Because if your entire market isnow working on a segment of
listings and everyone else saysI'll do it for less, and if
discount models grow more andmore.
If you don't evolve yourservices up, you have no option
but to discount.
If you don't have more services, you discount.
If you don't differentiate, youdiscount.
Now let's be clear If yourmodel becomes to discount, have
at it.
(07:26):
That is your model and there'san audience for it.
It's just not my model.
So I have to say, to work withme, you're going to get this
elevated level of service for mysellers as well as my buyers,
right?
So for both segments.
They hire us to solve a problemand save them time, right.
Their problem is they have tobuy or sell a house.
The problem also is they havefull-time jobs and kids and
(07:49):
lives and stress and take careof parents and you know there's
all these other things and theywant the details done and they
want a great, seamlessexperience and they want
services that are going to maketheir lives easier.
That's our job, right?
So to me, if you think I'lljust go, like if the herd says
I'm just gonna go, I'll go workwith listings because it's going
to be easier, it's not becausethere are companies that'll do
(08:10):
it for 500 bucks.
Yeah, right, and they're alwayshave right.
I can just put a sign in theyard.
That's the thing, right?
That cracks me up unless, yeah,yeah, just put it on mls, right
?
So it's like we can't.
We can't just say I do this.
And, and the problem too is, ifyou take a room and this is not
disrespectful, so I'm not aboveanyone, let's be clear, but I
(08:31):
do this a lot If you go into aroom with a large pool of
realtors and you say what's yourdifferentiator?
What do you specialize in?
Everyone says negotiation,marketing, pricing, right, like
communication, which is comicalbecause, let's face it, some of
the communication not so good.
But if everyone specializes innegotiation, no one does.
(08:52):
If everyone specializes inlistings, no one does.
So what's your niche?
What do you offer above andover?
Like you can't I take pictures?
Great, I'm sorry.
It's just like you guys sayingwe'll call you back, awesome,
we'll close on time.
That's your job, right?
That's not a differentiator.
So now is the time that we getto either discount or elevate,
(09:15):
right?
It's both ways or options.
Speaker 1 (09:18):
Yeah, totally, and there will be a race to the
bottom of people that are tryingto do it for for a lot less,
because they can't figure outhow to differentiate, how to
elevate, and so there willdefinitely be that, which will
just mean that you got toelevate even more, because you
got to make sure that you createthe separation between the low
cost providers and people thatare that are still trying to
(09:40):
make a living doing this and notslashing their costs, right?
Speaker 2 (09:45):
Well, again, I mean it's okay, like, listen, I'm a
strong believer.
If someone calls me and says,hey, I, um, I'm going to for
sale by owner of my housebecause I don't feel that I need
a realtor, nor do I see thevalue in one, cool, right, like,
you're right.
And then someone else says I'mgoing to hire a realtor and I'm
only going to pay them onechicken, whatever, right, like,
(10:06):
I'm going to pay this discountprice because I don't feel the
value is there.
Okay, you're right.
And then my client will say,okay, because of the services
and the 28 years of experienceand growing up in the market and
knowing the knowledge and yourhouse prep and the providers
that you give us and thecleaning of the house that you
do and the pre-listinginspection and the over and
above whether it be thedocuments in the house or the
(10:30):
systems that we provide toapprove pricing, anything that
we do that's got value will wantme as their realtor.
If it has no value to them,they should go to the discount
realtor.
Right, and that's cool.
So I think I'm not trying toconvince everyone.
They're my client.
I think the mistake is noteveryone is.
I am not everyone's cup of tea,but I just proved this
(10:50):
painfully.
Um on a two million dollarlisting today that someone said
I have five prices.
Hurry up and get in this house.
Speaker 1 (10:57):
I need yours, nope yeah, we feel that, yeah, we get
that.
And, and Lacey and I woulddefinitely agree that, like
everybody's not our client,right?
Like if somebody is just hey,here's five estimates and I'm
just looking at which one'sgoing to be the cheapest and
they're not going to listen toanything else, then I'll be like
, hey, here's another name youshould call somebody working out
(11:18):
of their basement on theinternet, you know, and that's
probably who you should talk to.
Speaker 2 (11:22):
That's someone's right, like I think we get mad.
I didn't get mad, I mean, Ijust said, hey, you have four
right prices and, in theory,market analysis probably not,
but market analysis and plansfrom four, I would guess,
referred pretty reputablerealtors.
That's the only thing I canassume.
My fifth one is not going tohelp unless you can tell me that
(11:43):
the four you have did not offeryou, so there's something
missing.
Was their marketing plan notgood?
Was their pricing system notgood?
Did they not have theconstruction people in that,
because the house needs work?
Was there nothing there thatwas?
Provided you the clarity tomove forward with four people?
That my fifth estimate is goingto be what moves the needle,
(12:03):
because let's talk about thatand guess what the response was
Cool, thanks Bye.
Right, no, it was.
I want five prices.
I'll pick either the number Iwant, the person I can boss
around the cheapest.
I'm none of those three right.
So to me we can decide our timeis valuable or the.
The time I have to spend thisweek is on my three sellers that
I'm literally having theirhouses painted and rotten wood
(12:25):
replaced and rebuilding theirsteps and giving them the value,
and all my contractors andpicking out their flooring for
them.
Yes, we do all that, like Ipick out the floor, I go and
make sure the fireplace iscorrect, I go and make sure my
contractors show up.
That's our job, right, I havetime for that because that's my
client.
So I think, as we evolve,because that's my client, so I
think as we evolve, you know wecan't be a, you know, a
(12:45):
specialist in everything, right,and so to me that's the biggest
clarity.
I think, and maybe I'm why I'min such a good place.
I'm in a great place.
Now, let's be clear.
It is Getting less money.
Yes, have I worked three timesas hard this year?
Yes, I have.
But am I much clearer and havea lot of things?
I'm excited that we're doingsystems, that we're growing
(13:09):
services, that we're offering toour clients for, like, highest
level experience.
Yes, because that's the route,that's my road, like that's my
lane I'm taking.
Right, and I think if, ifeveryone is like on the, you
know you go to Texas and there'sI'm in Virginia, we're not very
big.
You know the eight lane highway.
If you're on all eight lanes ofa highway and these are all
your clients, you're in bigtrouble.
Right, like what's your lane onyour highway, that is yours,
(13:30):
and again.
Speaker 1 (13:46):
God love you.
If it's, I'm going to do it fora thousand bucks.
Do it If price is only an issuein the absence of value, Right?
So if you've got an absence ofvalue, price is all that matters
.
Speaker 3 (13:53):
That's all you have to offer.
But we also know too, chad Imean on our end the race to the
bottom doesn't end well, right,and we've been up against people
racing to the bottom for thelast few years.
And we've been up against peopleracing to the bottom for the
last few years and most of thosecompanies don't even exist
anymore, Because so they willand it will be a process, but
(14:14):
they will get themselves outbecause there's only like you
still have to make income, youknow.
So the racing to the bottom andtaking on more work and not like
it doesn't end well, so it'sjust a process.
You know that we, that we haveto go through, but I do think
that this is going to bring outthe best of the best, for sure,
(14:37):
and I do think that people willreally see what that value looks
like.
Because, to be honest, have wehad to have a whole lot of value
on the real estate side overthe last couple years when, when
it was so busy, like you, justhad to be able to put a sign in
the yard and open a door, andnot always, I don't, I don't
mean that so rudely, but notalways.
But now is that time and it'sgoing to be exciting to see the
(15:00):
people who do step up and shineand I I love seeing your
enthusiasm for what you know.
What we've been talking about alot Chad is is that growth
mindset right Is where we see,where social people see gloom
and doom and and when the peoplewho find the opportunity it's
it's it's inspiring.
Speaker 2 (15:19):
But that's the time, right.
I mean, if you look at thislike, if you're not doubling
down on, I mean I'm going tomore conferences, not less.
I'm reading, I'm subscribing toInman and Housing Wire and
listening to so many podcastsI've read I don't even can't
tell you I'm a speed reader, tobe fair but probably in the last
four months I've read 25 books,right, I mean I'm just
(15:44):
absorbing as much information toimplement what I can and
looking and saying, okay, whendo businesses grow Like?
When does?
When do things change?
When, when there's a massivedisruption?
And we have a massive disruptionright now, which gives us an
opportunity to prove our value,or we can't, and then we have a
problem.
So I think that if people werelooking at this and I don't care
what your industry is right now, but we're obviously talking to
(16:06):
lenders and realtors if youthink, okay, how do I
decommoditize my profession?
Like we can't be much morecommoditized, greatest irony
ever and why nobody talks aboutthis.
So the attorneys that weredoing the suing, that are saying
(16:28):
we're watching you becausewe're going to sue everybody who
made 40% as a fixed fee of theclass action suit.
So literally go on their websiteand it says we charge 40%
basically, which is the mostfixed fee ever.
But they are really all overthose realtors charging 6%.
I just can't get over the factthat no one seems to understand
to me this great irony.
(16:49):
And they're going hey, we madea lot of money, don't you worry,
we're watching out for you tomake more money.
And I'm thinking okay, allright.
Speaker 1 (16:56):
Well, especially because they justified the 40%
fee because that if they didn'twin they wouldn't get paid, that
they could do a whole lot ofwork and maybe not get paid.
Does that sound familiar toeither?
Speaker 2 (17:09):
Exactly Like.
Again.
There are times like I mean Imight list a house and three
days later it sells.
But, by the way, it's also sortof like I've been in business
28 years and everyone's like, oh, you have this great.
You know, I've learned for 28years and I'm learning harder
now.
But you understand, when I putthe sign in the yard which again
is all we do, right, we put, Idrive around all day.
(17:31):
I'm exhausted.
Speaker 1 (17:32):
Lacey said it, not me .
Speaker 2 (17:33):
I didn't say it, but if you think about it, let's.
Really.
The sign in the yard could havebeen one year and often for us
is six months of the firstmeeting and we got a stage.
We got a paint Like right nowwe're doing literally all the
flooring, all the landscapingrotten siding, the HVAC is
(17:54):
sideways, I've got yellowjackets in the yard.
I've had to redo all thelandscaping.
So we've had to hire all thesepeople.
It's been months literallypicking out the light fixtures
at Lowe's that we are going topick up to deliver to the
contractor on Monday.
This is a house, by the way,that's $350,000.
Now, I'm not saying that's not.
This isn't just a $2 millionhouse for all houses.
So when you see it, go on thein the you know market and, yes,
the sign goes in the yard,people are like, well, they put
(18:17):
a sign in the yard, uh-huh, andI've had hundreds of
conversations, met manycontractors gone through, some
that didn't show up, everythingsomeone struggles with to put
the sign in the yard.
So that's my value right Nowthat house will sell for that,
versus 70,000 less because ofthe work we did to prep the
house.
So again, what's my value?
If my value to you the consumeris the sign in the yard.
(18:39):
That's a problem, right, butlet's take some ownership,
because if the realtors don'tsit back and say, hey, let's be
honest, if we all use therecommended buyer agency
agreement that have been aroundfor years, which our area
required, my office you don'tget paid without one, so we've
used one for years.
If we had taken that asseriously as a listing right
(19:02):
when in the listing agreement,if we hadn't just walked in and
look, this isn't everyone, butif anyone says this isn't the
case in some areas, it's false.
If I didn't just walk into Lacey, your house, and say, oops, 6%,
I'm sorry, you have to pay that, my brokerage requires it, the
market, you know you have nochoice.
I can't negotiate it.
If it was a fixed sign here and, by the way, buyers, I'm free.
And then I show you houses andthen they went to closing and
(19:24):
went.
You made what that's on us.
That's on us for lack ofclarity and lack of treating the
buyer side like we did theseller side.
I'm sorry.
No one I've ever seen didn't doat least a listing presentation
where they got a listingagreement signed that laid out
the price and God hope theprocess.
But for buyers it was wild Westright, like pick you up here or
(19:47):
whatever.
That's my buyer, not really mybuyer, like no explanation.
Speaker 1 (19:51):
So and don't worry, I'm free to you.
That was great yeah.
Speaker 2 (19:55):
Yeah, so that's the problem, right?
So I think, if we own it andmove forward from it instead of
trying to work around it causenow people are like, oh, I'm
going to put it on this websiteand I'm going to put 3% on a key
chain and I'm like my God, justconsultations explained to the
seller, this is my fee, what Iearned.
Here's the structure of whatI'm going to recommend.
Here's what I expect You'regoing to be asked for.
(20:16):
Let's run net sheets, assuminglet's talk about your, what
you're willing to do, based onan acceptable offer and buyers.
Hey, for all of these services,this is what I charge.
By the way, we're going to getinto this.
I know Lacey's going to ask howwe're going to structure it
that we work super well with ourlender partners as realtors,
which is more important thanever, right?
We're going to get into thattoo, but that's our job, right?
(20:38):
If that, if those consultationsand the processes and
explaining the contracts and youknow the services that we
provide haven't been part of ourjob, well, shame on us, yep.
Speaker 1 (20:48):
Absolutely.
So what if you're coaching arealtor right now, before we
move on?
If you're coaching a realtorright now, what would you say is
for them to define their uniquevalue proposition?
Like, how would you set themdown that path?
Because I think that's where alot of agents are struggling.
They know they need to createtheir value proposition.
They've been told that over andover again but they can't
(21:09):
figure it out.
They keep posting where I seelike memes on Facebook and stuff
that's like here's a hundredthings that I do to deserve my
commission and I'm like no,that's your job description.
Literally, that's what everyrealtor does.
That's the job description of arealtor.
There's a reason why PatrickMahomes gets paid different than
the lowest rated quarterback inthe NFL.
They have the same jobdescription, right, but they get
(21:32):
paid differently based off ofthe value that they bring.
So how do you coach a realtorright now and how to define
their unique value?
Speaker 2 (21:46):
So I think so I'll answer it a couple of different
ways, but I will say, if I canoffer one bit of coaching too,
the biggest mistake, I think, asa whole that we do as realtors
and lenders and anyone else, iswe don't pay attention to a
question someone's asking.
Ironically, you're asking aquestion that sounds like I'm
not paying attention.
I promise I will, but if I canjust deviate for two seconds,
the biggest question, of course,if you're going to go into an
appointment, if you sit with abuyer or you sit with a seller
(22:08):
or you go to the grocery storeright as a realtor, people like,
oh, I guess you're never goingto get paid again, or whatever
they say or go.
It sucks to be you and I'm likeit's great to be me.
But in people, let's say, laceyasked me oh the lawsuits, oh
the lawsuits, oh, what's thatall about?
Right?
The irony is I do thisdiscussion with realtors across
the country and immediately it'ssort of like all right, here we
(22:30):
go.
Well, I am worth this and thisis what I get paid and I'm not a
discount broker, and I'm likeyou're not listening to the
question.
So if I can like help the realestate world right now, when
someone asks you about thelawsuits, smile and say, gosh,
let's say that's a greatquestion, cause there's a lot of
misinformation out there.
What have you?
(22:51):
Let's talk about yourunderstanding on it, cause then
I can really help explain, fillin the gaps and really kind of
correct the wrongs I keephearing.
So let's pause right there,cause I just want to say that
again.
Speaker 3 (23:03):
Yes, love that and I think it's the biggest coaching
piece.
You spoke about that on stageand I loved it, because we
instantly go into what ourresponse needs to be and we need
to listen to what they know andwhat they hear first, because
it changes, does it not, thewhole direction of what you're
going to say, based on what theyhave already know or what
(23:23):
they've already heard?
Speaker 2 (23:24):
But again we get to naturally like, look you're,
you're in theory in your headsomeone's attacking your income
and I get that, but quitefrankly that's not it and
usually it's wrong, and get todiffuse it and you get to be the
consultant, you get to explainit.
Like, to me, nothing is betterIf I, many times a a day, I can
say oh, what have you heard?
Oh, that's so interestingbecause I keep hearing that.
(23:46):
Can I just tell you reallywhat's going on?
Can I just briefly explain thisto you and understand the
benefits actually of thislawsuit, for clarity, like if we
can make this positive.
And, by the way, they didn'task you what you get paid.
They asked you about thelawsuits.
Or they say I heard that Idon't have to pay a buyer's
agent anymore.
Well, let's talk about what youheard.
Then they answered and saidwell, you know, you never did.
(24:07):
Just to be clear, you still andalways could put your own side
in the yard.
You can offer 500 bucks withoutwhatever it is you, your
business model and your abilityto do it yourself Hasn't changed
.
What's changed is the field inthe MLS, there's no longer a
compensation field and what'schanged is the buyers have to
have a signed buyer agencyagreement, right.
So the fact that you don't haveto pay you didn't right and so
(24:31):
and that the buyer's agent nowis going to have to be really
clear to the buyer what they'reoffering for their compensation.
There is no longer cooperativeconversation and the problem too
is, if you look nationally, therealtors are confused because I
can tell you like EXP, by theway, I'm not an EXP agent but
shout out to them on a morenational level.
(24:51):
If you haven't paid attention,read about it.
People lost their collectivemarbles because EXP said we're
no longer offering cooperativecompensation.
By the way, the whole basis ofthe lawsuit they're not saying
that we're not going tocompensate, that a seller isn't
willing in their way in acontract to compensate a realtor
.
They're saying that we nolonger, as brokerages, can share
(25:12):
commissions.
That's the lawsuit.
And people.
I hate eXp.
Exp is not for realtors.
It's like no, you clearlymisunderstood the whole basis of
the suit.
So I think if people reallyjust sat down and understood it
and, by the way, you have toknow it better than your client.
I can't sit with a client whoknows more about it than me Now,
(25:32):
at this point they won't,because I've studied this for ad
nauseum for hundreds of hoursbut you have to dispassionately,
non-emotionally, say no,actually, this is what it means.
And here's the benefit to you.
Here's the benefit to you asthe buyer, here's the benefit to
you as the seller.
Here's what I recommend we do.
The strategy I recommend is Xright, that's why they want us.
(25:53):
So this whole, I'm not discountbroker.
They didn't ask you that, right?
So take a breath.
What have you heard?
Well, that's interesting.
What do you mean by that Really?
Then go, okay, now I know howto answer this question.
So that's that's.
Speaker 1 (26:07):
I'm sorry that was off topic, but um no, I love it
Cause it's actually relevant forfor lenders to to ask that
question because it's somethingwe should ask.
All the time People are like ohI, you know rates are rates are
going down Right, or you know,whatever it is, it's well, tell
me what you've heard.
I mean, it is relevant to bothof our fields, to everything, to
(26:27):
all sorts of topics, not justthe settlement.
So thanks for dropping in there.
When I saw you speak last,that's one of the big things I
wrote down.
Use the phrase tell me whatyou've heard about to answer
most questions.
Speaker 2 (26:38):
So let's talk about that when?
Where do you, where did youhear this?
Or what do you mean by that?
So I make sure I answer thecorrect question.
But finding our superpower iswhat you were asking earlier,
like how do we, how do wedifferentiate?
And, honestly, that's reallyhard.
It just is because in acommoditized business, we all
say the same thing.
We all say I'm look, and weshould be like I'm a great
(26:59):
negotiator, gosh, I hope so.
Right, I'm a great communicator.
Okay, marketer, I'm great atmarketing, I'm great at social
media, like all the things.
I can get this done quickly.
I'm going to make you the mostmoney.
That's all the basics, right?
Those to me, are not traits.
I mean, they're traits butthey're not a differentiator.
Those are the basics.
(27:19):
So to me, the differentiatorslook, if I've done this for 28
years and I boil down, I thinkI'm really good at what I do.
I think I can help.
If you need to sell your house,I can help you between a
hundred thousand and probablytwo and a half, 3 million, right
?
So then you think, well, that'snot a real differentiator.
But what am I really reallygood at?
So I'm really really good at afirst time home buyer because I
(27:41):
have systems and time.
I will spend a lot of timeexplaining the process and
really making a bunch ofcomplicated noise simple, right?
So you don't need to worryabout all these things and I'm
not just going to send you aform to sign.
We're going to sit down andwe're going to go through your
wants and needs and why this maynot be the right time for you
to buy.
And this is what's importantand this is the process that we
(28:03):
know works right, and we'regoing to handhold you every
single step of the way, likethrough the whole thing.
We're going to take care ofeverything for you.
I'll make sure your movers areset.
I'm going to make sure you havean amazing experience.
You're going to have a surprisein your fridge when you're done
, like we're going to take careof all of it.
I know I'm.
You know you buy your firsthouse.
You just never forget it, right, like it's home ownership.
(28:23):
It changes their lives forever.
So I'm really good at that.
I'm also really good at takinga home sale process.
So if you've lived in yourhouse for 30 years and you've
got too much stuff and you don'tknow what to do, I know what to
do.
I am a wizard at that.
So my specializations right arereally taking you through the
whole process of decluttering,staging, home improvement,
(28:45):
getting the contractors in thisentire process, the pre listing
to get you the most money iswhat I'm really good at, right.
So let's talk about what arethey really good at.
Now I have realtors that arelike I don't like a first time
home buyer, cool.
So is it a downsizer?
Is it a corporate move?
Are you an expert inrelocations?
Are you an expert in what phaseof the market?
(29:06):
Military, like, if my spousewas in the military and I
specialize in physicians, right,I know that physicians are my
niche because I really know yougot no time.
I've got this covered for you.
Here's how we're going to dothis for you remotely.
So they've got to come up withwhat are they really good at,
right?
Speaker 1 (29:25):
And what do they want to become really good at?
Because there's agents thathave not sold you know anything
yet, and they're trying tofigure out how to navigate this
market and how to create theirvalue proposition.
So they've got to lean intosomething, right?
Well then, they've got to learn.
Speaker 2 (29:38):
So are you an expert in certain neighborhoods?
Are you an expert?
Because when you're brand new,honestly, you're not an expert,
and then it takes you a longtime.
And then people I think arescared to define a niche because
you alien other people, Nottrue?
If I can help anyone who'sreally got a lot of work to do
with their house, imagine howeasy it is for me If I, if you
walk in, if I can walk in andyour house is already sweet, it
(30:00):
doesn't mean I can't help you.
It's just that we can proceedmore quickly.
So I think that expert ineverything is expert in nothing.
So look, but here's like if I'm20 years old, I'm not going to
say I'm an expert at seniorslike I always laughed, because
when I started I was 25 andeveryone's like you should get
your senior real estatespecialist.
And I was like what?
I'm so sure that it's going tobe convincing based on not that
(30:22):
I can't be a specialist, butlike I don't.
My family, my dad, was in themilitary.
He just passed.
But is the military buyer myspecialization?
I can certainly do it and haveworked with tons because of NGIC
and DIA here, but is itnecessarily the thing I know
better than anything else.
No, so maybe some people aregreat.
My brother's a licensed homeinspector.
So can we say we know homes andprepping homes and getting your
(30:46):
home, that we're gonna avoidexpensive repairs because we
take that time?
On the front end?
Yeah, because I've got aspecialist.
So I want them to think aboutare they specialists in
marketing?
Maybe they can get your homesold on social media better than
anyone else.
That's what I'm really good at.
Then that's what they marketmine.
That's what I'm really good at.
Then that's what they market.
So the problem is everyonethinks, oh, I'm going to say I'm
(31:06):
a great negotiator likeeveryone else won't.
So for me it's like they've gotto find.
To me it's like what gets themsuper excited.
Like people say, to find whatyou're really great at.
What would you do every day ifyou didn't get paid?
Like what would get you upevery day if it wasn't just your
bread and butter?
But man, I know that betterthan anyone else.
And for me for months it wasthe lawsuits.
Like I've been talking aboutthese lawsuits, I mean, for I
(31:26):
know I've read the whole NARreports, I read every article,
I've watched every podcastbecause it was that important
Right, and and that's probablywhy I got through the noise of
it so much faster is I was like,well, this is not a big deal.
Right, Like I'm not worriedabout demonstrating my value,
I'm not worried about explainingmy opinion.
And again, if a client says I'mjust not paying you or the other
(31:47):
agent, that's awesome, theywill find a realtor that will do
that right.
So I think that's the biggestthing right now.
What is my line in the sand?
And also, like, what are mynon-negotiables?
Like, if you're rude to me ormy team not, Like you're not
going to me or my team not, likeI you're not going to.
And if you don't want to followmy process, if you're like no,
no, no, no, I'll use my ownphotographer, we're going to do
our own.
(32:07):
No, like that's cool, A realtorwill gladly probably let you do
that because that'll save themmaybe some money.
That's just not how we work.
So I think, if we're clear onmy non-negotiables right, Like
no jerks and no one that doesn'twant to pay me, I mean those
are kind of basic right.
But I think if people reallyand I've spent years and
(32:27):
continue to I'm getting coachedon it now, Like I'm about to go
through, with Renee Rodriguez,an entire ethos exercise.
It's three weeks.
I feel like I know myselfpretty well, but I'm like again
I got to go to a higher level ofwhat's different about our team
and what I'm passionate aboutto help my niche of clients.
So I think it's a constantrefinement and it's so much fun,
(32:47):
yeah.
Speaker 1 (32:48):
Like, I love it Well that's what you and I bonded
over too.
Is just that like idea of beinga lifelong learner, like
looking to elevate constantlyand I think that that's where a
lot of people miss the boat,right?
Is that like, if you justcommit to that and you commit
intentional time around thatthing, you will come out on top
(33:09):
with this, like create yourniche or into being curious and
being creative around that andgo for it?
Like go go play big with that,right?
Speaker 2 (33:19):
It's just more fun, right, like I mean, I think,
look, I'm, I'm very like,authentic to who I am.
Right, like I am.
I might not be for some peopleI'm I talk kind of quick I got a
sleeve full of tattoos.
I I am very loving of allpeople.
I am not going to accept peoplebullying anyone for any reason.
Like, I just know who I am andI think, look part of that.
(33:40):
I'm now 52.
You know what?
Was I that confident at 30?
No, because when I was 30, Ireally wanted to.
The funny thing is is you evolveright At 30,?
You know, in my thirties I wasin a coaching program and I just
wanted to beat you.
I just had to beat you.
I was going to, I needed tosell one more than you, because
that was my driver and notbecause I didn'm like, how can I
(34:01):
bring you with me?
Like I don't care if you're inthe office next to me or across
the country.
How can I?
How can I help bring you like,how can I help you evolve into
your best?
Cause I don't feel like if youdo well, it's taking from me and
I think that's the biggestproblem right now is it's like,
oh, I've got to capture this andthere's not enough.
There's plenty, right.
So, like, how can I help you?
(34:23):
You know, find your thing which,by the way, is not my thing
right?
Like I'm a sheller.
People are like, well, what'sthat?
I go shelling and look forshells with old ladies and most
people are like you're crazy butI love it.
So you know, my people are notyour people.
The way I do things is, and meelevating services and doing
more and more, a lot of peoplehere are like I don't want to do
(34:43):
that.
Awesome, don't do it, right?
So I think, if we think of itthat way, like how we bring our,
you know, like to me look as anindustry, if we don't fix our
names and we don't elevaterealtor to another level and
what we provide and the serviceswe offer, we go by the wayside.
Right, and same with you guys.
(35:04):
If we don't team up better andI know Lacey wants to talk about
that if we don't really worktogether not only for ourselves
but for the best of our clients,then our value diminishes.
And you know, I truly believethat.
Speaker 1 (35:16):
Yeah, Lift as you climb right.
That's a, that's a big thing.
That's in the back of my mindright now.
Well, yeah, so you mentioned italready that's.
One of those niches is that youhave people like you have a
team, not just your real estateteam, but you have like your
go-to we could say vendors, butlike, literally like your dream
(35:37):
team You've assembled, you'vecurated that.
Speaker 2 (35:39):
My tribe.
It's my tribe right.
Speaker 1 (35:42):
Right, your tribe, and that's part of your value
proposition.
And so, not to soundself-serving, but I want to talk
about that because, from alender standpoint, I do believe
that we need to be part of thattribe, that we are a more
important piece of that thanever.
So how do we, I guess how do webring that together?
(36:03):
How do we make sure thatrealtors understand the value in
having that curated dream team,their tribe?
That is part of your valueproposition.
How did you come to that andhow do you deploy that?
Speaker 2 (36:17):
So I think, look, you know people, they hear team and
they're like oh, she has a bigteam.
Let's be clear, it's me and twopeople.
I do not have a big team, I,that's just not how I roll, but
I have a great tribe, and so Ithink that it's a mistake to not
think how do we work together,how do we help each other, but
how does it benefit the client,right?
So let's talk about I've alwaysit's hugely important for me to
(36:40):
have my, my lender partner,because we absolutely are like,
the success of this for theclient is massive.
So we're talking about buyersnow mostly, right, so to me,
especially now.
So here's what I'm going to see, if I see, and that this is so
new, like we've been sinceAugust 5th for everyone else,
it's just been a couple of daysright Since these have taken
effect.
(37:01):
So lenders in terms of addingvalue.
So I'm going to hop around alittle bit, but I think it's
important Right now.
I think, for any lenders thatare partners with their realtors
, it's reaching out and findingout, like, what's your plan
right now that we can worktogether even better, because I
think there's still going to be,I think, a lot of realtors, the
(37:22):
world they're going to have to,are they going to get in huge
trouble Cause, like I said, bigbrothers watching are going to
adapt to begrudgingly.
And I think at the door whichis a mistake they're going to
get a buyer agency agreementsign.
Hey, oh, I can't open this door.
Here's my key, but sorry, itdoesn't work till you sign this
document.
That's a massive disservice,right?
So, number one, the buyerconsultation huge.
(37:42):
But how does that bring thelender in?
Okay, let's talk about howthings have changed.
So let's just in a selfish way.
So if I'm a realtor, I'm goingto be selfish about it which, by
the way, selfish isn't alwaysbad and I need to make sure I'm
going to be compensated, right.
So I have to explain that.
But, furthermore, I can'tassume anymore what that unknown
seller in an unknown house thatI haven't seen yet is going to
(38:04):
offer or not offer, right, andif I'm doing the best job for my
client, that means I'm reachingout.
So, right now, there's two ofyou.
I'm picking Lacey, lacey, andnot because I'm not picking you
Chad, but Lacey's my lender.
Okay, lacey's my lender andactually, chad, you're the buyer
.
So I'm having my consult withChad and I'm explaining my.
This is the services I offer.
This is the fee that I chargeand my expectation is and just
(38:27):
so Chad knows, as the client, Iwill be writing that into the
contract.
By the way, realtors, only wayyou're going to get paid.
I don't know what people aretelling you, but I hate that
people don't say they're writingin the contract.
Yes, you must.
So anyway, that was an aside.
But, chad, let's talk about howwe're going to get this, how
this compensation is going tohappen.
I'm going to be writing it intothe contract, but we do need to
prepare and talk about what ifthat seller let's say there's 12
(38:48):
offers, right, and that sellernow who was offering
compensation, says too bad, sosad.
So here's what we need to do.
Like I know, we've already setup a consult with Lacey, we've
run some numbers, but I'm goingto have Lacey run some scenarios
for you, because we need to beprepared in the worst case
scenario, that that seller isnot going to compensate me at
all.
I can't have this be a what arewe going to do now?
(39:08):
So Lacey's going to show youscenarios of what might need to
happen with your down payment,your closing costs, adjusting
pricing, what the scenariosmight need to be in the very
worst case.
By the way, I don't thinkthat's going to be common, but
we have multiple offers and wehave to figure something out.
I need you to be prepared forwhat those numbers look like so
that we can be on the same page.
So Lacey's going to rundifferent scenarios based on the
(39:31):
seller paying all thecompensation, part of it, you
know, maybe again one chicken ofit, two chickens.
I don't want to be fixingcommissions, but she's got to
have you, chad, prepared so thatwhen that happens and I go show
123 Main Street and they'reoffering X and I charge Y, I
just want to be again we don'tfix it.
Yeah, it's good that Chad goessweet.
(39:52):
That's option B, I got it.
I know exactly what I need todo.
All right, we're writing thisoffer.
I'm competing, so I'm not goingto ask for more.
But, by the way, guys, no onetalks about what I charge is
what I charge.
I can write whatever I wantinto that agreement, as long as
it's the agreement Chad and Ihave.
What is offered anymore isirrelevant.
This is the next mistake.
All the people that are likethis is not worth an offer or
anything, Write it in any wayunless you're in multiple offers
(40:14):
.
So it's a negotiation piece,but to me the long and short of
it is the lender realtor partner.
We need to work together evenmore as soon as.
Chad comes to work with me and Isend him to Lacey to get
pre-approved prior to ourconsult, I need to call Lacey
and say Lacey, chad's going tobe coming in.
Just so you know, mycompensation and my agreement is
X.
So when you're having aconversation with him, I need
(40:36):
you to run those numbers becausehe has to be prepared.
And let's, here's the question,the sphere right out here what
if Chad just can't?
What if Chad can't pay thatamount?
Well then we're going to haveto have another conversation,
(40:56):
right?
Am I just going to ditch Chad?
No, because he's my client,right?
This is how things work.
So the seller can pay this much.
Maybe Chad can pay this much.
I have to use my remember ournegotiation skills.
I have to use my putting thingstogether skills to make it
happen.
So, listen, lenders listeningright now.
If you're not reaching out toyour realtors, I always think
it's funny, because I knowlenders are like what do I say
and what value do I provide?
We think calling your lender,your realtor partners, right now
(41:17):
and saying hey, marjorie, Ijust want to make sure that we
are set so that, when we havingthese conversations, we can make
sure that you're going to getpaid Right.
Okay, that's important to metoo.
So's the basics.
So to me, if I laid it to thewild wild west which I don't
understand how people don't doanyway and they go over here to
(41:37):
who knows who, 1-800 loans dot,xyz again, I don't know.
Um, that conversation is notgoing to happen.
Or does that person say youdon't need a realtor?
I don't know, because there'san unknown on the other end.
So I need it and it's by theway.
I'm not working with you, lacy,because you say they need a
realtor.
I'm working with you becausewe're solving a problem.
(41:57):
The potential problem is thatbuyer is liable for compensation
to me.
How do I fix the problem beforeit happens?
So it isn't a shock or areaction, because I assure you l
what's going to happen is theseconversations won't happen and
your Lacey's going to get a callthat says hey, lacey, I need
you to find me my 3%.
That's horrible.
That is not taking care of theclient.
(42:20):
So to me, that relationship, mytrust in you, my faith in you,
has to be there anyway, becauseyou have to do the process the
way I need it done.
My job is not to chase you downright, I need to know they've
made loan application and ifthey haven't, you better reach
out to me because I promiseit'll happen quickly.
I need to know the appraisalhas been ordered.
I need to know that it's comein, and then there's not a major
(42:40):
issue.
I need to know the closingdisclosure has gone out Like
cause.
We're not gonna close on time,not going to close on time Like
that.
So my partner and I are veryclear I need this, you need this
.
If I need to be bad cop, I willgladly be bad cop right In a
very loving, kind way.
But what do we do for eachother?
And what is anyone who has hada bad experience, whether you're
a lender that had a bad realtorand yes, we exist too and you
(43:03):
think, oh good, god, or viceversa, where we're thinking, man
, I crushed it, took the bestcare of my client, but the
lending side was a disaster, orvice versa, I don't care how
great you thought you did, itwas a bad experience for that
client that does not getreferrals, or a lifetime client.
So, but to me, take it further,like if you think, like your
inner team is that bullseye anda?
(43:24):
You know, like you're playingdarts and you got the bullseye.
So my three people in our team,that's the inner, and then my
next circle is my tribe, becausemy homeowner's insurance
provider has to kill it, myattorney has to kill it, my home
inspector has to kill it.
By the way, all the vendorsthat take care of me that get
into houses right away.
They can't not show up.
They can't do a bad job, sothese people have to I get the
(43:49):
business.
They have to make me look good,take care of me, really be
great with my clients, whichthen makes my clients lives
easier, which is why they'reworking with me, right Like.
There are still people that arelike here's a list of vendors,
good luck.
I'm like what are you doing?
Speaker 3 (44:02):
How do you, marjorie, when you have a client that
comes to you and they've alreadybeenapproved with some lender
that you don't know trust isgoing to get you there, which
puts your reputation, you know,at stake, like I think that's
the biggest piece with my agentssometimes is is what, what is
the best script or what?
What do you?
(44:22):
How do you like to get throughthat?
Not to steer them to yourperson, but to make the client
believe that the reason you'redoing this is for their best
interest?
Speaker 2 (44:32):
Well, I think the thing is sometimes it's not just
the name.
So again, chad's my client andChad says I'm working with XYZ
lender and I'm like, ooh okay.
So, chad, I'm going to take onesecond.
So I don't know this lender, soI'm just going to say right
away that I have no idea thattheir processes are like mine.
I do not know that this linethat we're going to cross isn't
(44:53):
going to have things.
So here's the first thing I needI need you to get me a
breakdown of all your costs,because I can't tell you in good
faith what's happening unless Iknow.
Here's what the fees are, here'swhat they say.
I actually then need to callthem because in our area, a full
approval includes anunderwritten appraisal and most
lenders don't do that, and thenit messes us up and then it
delays closing.
So if you could get thosenumbers to me, I really need to
(45:15):
review them, because right now Ihave to tell you, I have to
make sure you're clear, becauseI don't know this person.
I cannot tell you that I haveany control over this part of
the process or any ability tohelp you if and when it should
go wrong.
Are you okay sharing that withme and then letting me have a
conversation with that lender,because, quite frankly, I do
this every day and you don'tknow what you don't know, so I
(45:36):
wanna be able to say thatdoesn't look right.
Or, and again, if that's yourtrusted person, great, but I'm
gonna have to work reallyclosely with them.
So I need that information sowe can move forward.
I like that.
I'm not going to talk them outof him yet because, quite
honestly, that's their brotheror that's their uncle.
There's a reason they work withthem and I'm going to say that
(45:57):
to start now.
Often, if they send it to me,I'm like, well, like no.
Or they're like, oh, here's ourpre approval letter.
I'm like it's not a preapproval letter and and hey,
you're going to have to get methis letter.
We don't do that.
I'm like that doesn't work here.
And then I say, look, I needyou to talk.
Depending on if I hear a nameand I'm like, oh, no, I'll say
hey, and we're going to haveanother consult.
(46:19):
I know you did one and you knowyou can tell them what the
credit score is, in case they'realways scared by the way of the
credit pool.
It's like, well, let's, let'stalk, because I have serious
concerns.
Now, if I've had a badexperience, I just say, no, you
can do this, but I'm justwriting down right now that this
is going to be an absolutedisaster and this is going to be
a nightmare that you're goingto regret.
(46:40):
So it just depends on whatstage it is.
But I think that's our job.
Like if they recommend aclosing attorney that I know is
awful.
I'm going to say no.
Now you can.
I can't tell you who not to use, but let me just tell you
what's going to happen.
They're not going to respond,we will not close on time, they
will not disperse, you will notget keys 28 years right.
So I think it's my job If Chadsays I'm going to use them cool.
Speaker 1 (47:14):
But then when it Well , I think the my assumption and
not an assumption, butunderstanding is talking to a
lot of agents is that they justif they hear I'm already
pre-approved with somebody elsethere, that's okay, that's the
end of the story, right?
Like they're just kind of like,well, they're already
pre-approved.
They don't ask the questionlike how married are you to that
person?
Like how do you find them?
Speaker 2 (47:35):
Problem two again now , listen, I have my chosen
lender that I want everyone towork with.
There are a couple that I knoware really good.
They're just they, they're intown and they do a great job.
And if they're married to themand I know, listen, I've worked
with them and if it weren't formy relationship with my chosen
lender, I would, you know, workwith them too Then that's a
different story than I think our, our loyalty is to, of course,
(48:00):
you, but ultimately to theclient.
So when I know it's going to bea you know what show, it's a
massive disservice not to say it.
And again, I tell them.
So part of the consult is,listen, lacey, I have a team of
professionals that I work withand have worked with, and they
do an amazing job for my clients.
I work with them personally.
I'm going to be recommendingpeople.
(48:20):
You get to ultimately make thedecision.
I just know for the process andclosing to happen as we want.
This is how it.
It works really well.
So if they again say, causesometimes, frankly, oh, it's my
cousin, I'm not going to, butI'm still causing, calling like,
dude, cousin, here's how we doit here.
Like, I need this, I need this.
I need this, I need this.
No, you can't give me the, theletter that you send at the
(48:43):
beginning and call it anapproval letter.
I need no approval letter Likeum.
So to me that's our job.
But I think look as if I want asecond opinion.
Yes, I will often say listen, Iwant you to talk to my lender,
I want to compare, right, like Ineed to make sure I want you to
talk to them, but I think notasking the questions is the
problem, not voicing when weknow there'll be concerns.
(49:06):
Yep, right, so I think again.
So there'll be concerns, yep,right, so I think again, part of
the process should be beforeyou meet, I want you to talk to
my lender, and I tend to avoidthat a lot, except if it's
someone that comes in who hasthis.
They're already establishedwith their lender, and I'm new
makes it way harder, right, whenit's me that starts and then I
get to establish.
It's way easier because I'm thefirst person, I'm the
(49:32):
consultant, that's referringversus the receiver.
Speaker 1 (49:33):
Yeah Well, and you said it earlier, I think that it
makes sense to also bring upthe fact that you need to assume
that the conversations that anyif you don't know what
conversations that lender ishaving you probably should
assume the worst.
Just looking out for yourselfis like they could be trying to
talk them out of you using anagent.
They could be telling them thatthey could write up the
(49:53):
paperwork for them.
There are lenders that aregoing to get licensed to try to
take business away from realtors.
They're sick of getting businesstaken away from them, right?
So there's a ton of that.
Speaker 2 (50:05):
Here's the funny thing, right, Like the realtors.
So the big thing across thecountry in different areas is
the realtors that are alsobecoming lenders and the lenders
that want to be realtors.
I'm like guys I'm going to saythis in the lovingest way
Realtors don't know math and sofor, and we need to fill in 20
spots in a contract and if youguys, if realtors work with
enough realtors, that's alreadyhard for some realtors, they
(50:26):
don't need to be doing the mathand vice versa.
You got to stay in your lane ofgetting your part done and I
will take care of your clients.
Like, I think, if you're reallygreat at what you do, it
doesn't mean you can't addservices.
It doesn't mean you might havea partnership or whatever.
But to say the market's gottentough, I'm going to do this
other person's job when I'm notdoing mine really well to me is
(50:46):
crazy.
I agree.
Speaker 1 (50:48):
Amen, amen, marjorie yeah.
Speaker 3 (50:51):
Awesome.
Well, this has been wonderful.
We I mean, we are, we are outof time.
But, marjorie, I just, you'rejust always so real.
Speaker 1 (51:02):
Yeah, I agree a hundred percent.
This was awesome.
I think we should do it againbecause I've got more that I
want to ask you.
But man, we've got to cut it,cut it off.
But I do want to get this inhere because you do coach
realtors and a lot of realtorsthat need coaching, and you do
it nationwide.
So how would somebody get aholdof you, marjorie?
Speaker 2 (51:20):
So what I'm excited about is we're partnering and
doing next level coaching forrealtors, and so to get in touch
with me, probably the easiestis you can go on Marjorie Adam,
team realtors.
Send me a message on Instagramor Facebook Marjorie at Marjorie
Adam A-D-A-M teamcom.
Just Google me.
Send me an email.
We're going to be launching thesocial and everything else
(51:42):
we're really careful about.
We're growing slowly, but Ithink right now, affordable
coaching is what's reallyimportant.
I've done super expensivecoaching and now it's like
listen, let's help people.
Everyone needs help in a waythat more people can do, and
that's what I'm super passionateabout.
Speaker 1 (51:59):
Yeah.
Speaker 3 (51:59):
You guys can also reach out to us.
I mean Chad and myself.
We can get definitely get youin direct contact with Marjorie
as well.
Speaker 1 (52:06):
Yeah, a hundred percent, we'd love to do it.
Marjorie as well.
Yeah, 100%, we'd love to do it.
Speaker 2 (52:10):
Marjorie, you're amazing.
Thank you so much.
Thanks for having me.
I really appreciate it.
This is always great, the morethat we can get people excited,
focusing on their specialtiesand partnering with.
You know, the lenders andrealtors and just you know.
Seeing this as an opportunityand not a setback, I think, is
what I want to do.
Speaker 3 (52:25):
I couldn't agree more I think we are.
So I mean we are an industrytogether, you know, and and to
be able to collaborate togetherand figure out how to, how to,
to keep moving forward andgrowing together through this is
is where it's at.
So we appreciate you.
Thank you so much.
Speaker 1 (52:39):
Yeah, thanks, marjorie.
All right, well, until nexttime, guys, thanks for tuning in
and share this.
This was great.
Share this with somebody thatyou like.
If you didn't like it, thendon't share it, I guess.
Speaker 2 (52:50):
But we appreciate you and share it with someone you
don't like.
Speaker 1 (52:53):
Yeah, share it with someone you don't like.
If you didn't like it, I'm sureyou loved it, though, because
Marjorie knocked it out of thepark.
So thanks, guys.
We will see you next time.
Bye, see ya.
You.
all right, welcome back everybody to the secret
sauce podcast.
I'm chad trees here with myamazing host, as always, lacy
moores, and we're super excitedtoday because we're joined by a
realtor, extraordinaire teamleader, business coach.
We've heard her speak multipletimes.
She's just amazing.
(00:31):
Not in our market, so not tohopefully step on anybody's toes
, we're in Kansas City andMarjorie, without further ado,
let's introduce Marjorie, adamand you're East Coast.
Speaker 2 (00:44):
Yes, no, worries everyone, I'm in Charlottesville
Virginia.
Nobody else listening is fromCharlottesville Virginia right
now mostly.
Speaker 1 (00:51):
Yeah, but you get it and you coach realtors all over
the country.
You've got a history incoaching for years and years and
years, right, and so, yeah, wewant to dive in on some stuff
today.
Like I said, lacey, and I haveheard you speak multiple times
now and you always bring it and,um, yeah, we thought what
better way than to bring you onand, uh, learn a little bit
(01:12):
about your secret sauce?
Um, a lot of what you've beentalking about lately has been
the whole NAR settlement, whichis, you know, um relevant, but,
um, we can talk about that alittle bit, but maybe not get
too far in the weeds on it.
Lacey, where do you think weshould start?
We've been talking about this.
Where do you want to start?
Speaker 3 (01:32):
Well, marjorie, will you just give everybody a little
rundown about you've been acoach, like Chad said, forever,
but tell us a little bit aboutthat and what's really been your
biggest, how long you've beenin the business and kind of
where your business changed themost.
Speaker 2 (01:46):
Yeah, so I'm.
Thank you so much.
So I'm a realtor inCharlottesville, Virginia.
I have a very small team, threepeople in me.
I've been a realtor for 28years.
I got into real estate becausemom was a realtor and,
ironically, I thought I'll neverbe a realtor because mom was a
realtor and then I went intobusiness with her.
I now work with my brother, sovery family, oriented, family
business.
(02:07):
I think I've watched.
Look, I've been through all themarkets.
I started right 28 years agoand rates were.
I got my first mortgage was 8%for an FHA and I was stressed
out for my $118,000 townhousethat doesn't exist anymore and
really have seen all the marketsright.
I lived through very painfullythe 2007 and on market and
(02:30):
certainly was really preparedfor this shift, which I think
you know.
The settlements are probably oneof the biggest shifts we've
seen on our side of the businessever, maybe in terms of since
buyer agency started in the1990s.
I think this is a massiveopportunity and I think too many
people are.
We were joking, lacey.
We were joking about readingthe book who Moved my Cheese.
(02:51):
Read it, but your cheese hasbeen moved.
Just so you know, your cheesestarted moving about a year ago.
If you're a realtor, yourcheese is fully gone now.
So I think you need to adaptand just you listen.
If you're still stuck, the timeis gone.
I think anyone who says they'renot going to evolve, you better
be reading the news.
You watch the attorney who isthe big sits or banana attorney.
(03:13):
If you pay attention, and you,if you're a realtor and you're
not looking at Inman and all thenews sources, you're missing
out.
And they are watching you andthey big brother is here, right,
doj and the attorneys.
You think they made hundreds ofmillions and they're done.
They're not.
So they are literally watching.
What do our forms look like?
Are we implementing?
Are you getting your buyeragency agreement signed?
(03:34):
So, are you creating workaroundwebsites?
Are you just not going to shiftcompensation and how it's done?
And so I think the people havespent a year thinking, oh, it'll
never happen.
Now it's happened and we just Ithink the people have spent a
year thinking, oh, it'll neverhappen.
Now it's happened and we justneed to roll with it.
It is here and it's going to bethe future and we have to, you
know, adapt to it and workthrough it.
Speaker 1 (03:54):
Yeah, right, right on , go ahead, lacey.
Speaker 3 (03:57):
Well, so one of the things that you were speaking,
you just spoke at our event.
Speaker 2 (04:17):
And you know, one of the things that really resounded
with me is you said that somany people are going to be
running towards listings and yousaid you're goingman conference
in New York in February.
I just got back from aconference that was less
industry specific, but I thinkwe go to the industry
conferences that are reallyimportant, but we don't innovate
or evolve in one.
We just sort of group think,which is good, but it puts us in
(04:39):
the herd and I think right now,if you listen to the news and
what everyone's saying, it's theherd.
Mentality right now is oh boy,how am I going to get paid for
working with buyers which Ithink is ironic, because you're
going to get paid pretty muchlike you always did but how is
that going to work?
So you know what we're allgoing to focus on listings.
And don't get me wrong in realestate listers last, you want
(05:00):
listings.
It doesn't mean I will be justthrowing my listings away, but I
want everyone to think aboutthis.
If everyone in the industry, ifall the realtors that make it
all say I've got to focus onlistings, one, that means a
whole lot of people going afterone smaller segment of the
market until the market changes,which also means much more
competition, which will resultin prices.
(05:20):
Right, if everyone needs alisting, the commissions will go
down.
And so to me it's like okay, ifthe whole herd says I'm going
to ignore these buyers, I amgoing to go anti-herd and I'm
going to go hard on buyerspecialization and taking better
care and offering more serviceto buyers, because why would I
want to chase after the smallestpiece of pie?
Speaker 1 (05:41):
Yeah, I love it.
Yeah, I mean I think, on thatnote, you know buyers are.
What we've all been hearing isthat to work with buyers, you've
got to have a super definedvalue proposition.
Right, you've got to be unique,you've got to be able to speak
to your value, and I thinkthat's where people are
struggling.
A lot of realtors arestruggling right now as they've
(06:03):
been hammered that message homeand maybe they're going to work
with sellers because you don'tnecessarily need to have as
defined of a value propositionor be as unique.
What do you think about that?
Speaker 2 (06:15):
That is great.
Here's the thing again.
So we're you know already themarket has changed.
We have fewer sales, so they'resaying there'll be about 4
million nationally sales thisyear.
Fewer sales so they're sayingthere'll be about 4 million
nationally sales this year.
They're projecting that againnext year.
So if everyone's waiting fornext year for many more sales, I
think you're going to keepwaiting.
So if we look at that, thepiece of the pie is smaller.
And also think about you.
Don't think the sellers arealso saying hey, these lawsuits
(06:37):
are all about, by the way, how Iwas paying you and the other
realtor a lot of money and now Idon't have to and, by the way,
I don't have to pay you that andwhat are you doing for your
money?
And the biggest issue is, as Itravel across the country and
teach and speak and learn fromrealtors because I'm a journal
student, I have a lot to learn.
So let's be clear.
I've just paid a lot ofattention to this I hear oh, I
(07:06):
get 3%, I'm just going to get 3%.
Dream on pumpkin.
Because if your entire market isnow working on a segment of
listings and everyone else saysI'll do it for less, and if
discount models grow more andmore.
If you don't evolve yourservices up, you have no option
but to discount.
If you don't have more services, you discount.
If you don't differentiate, youdiscount.
Now let's be clear If yourmodel becomes to discount, have
at it.
(07:26):
That is your model and there'san audience for it.
It's just not my model.
So I have to say, to work withme, you're going to get this
elevated level of service for mysellers as well as my buyers,
right?
So for both segments.
They hire us to solve a problemand save them time, right.
Their problem is they have tobuy or sell a house.
The problem also is they havefull-time jobs and kids and
(07:49):
lives and stress and take careof parents and you know there's
all these other things and theywant the details done and they
want a great, seamlessexperience and they want
services that are going to maketheir lives easier.
That's our job, right?
So to me, if you think I'lljust go, like if the herd says
I'm just gonna go, I'll go workwith listings because it's going
to be easier, it's not becausethere are companies that'll do
(08:10):
it for 500 bucks.
Yeah, right, and they're alwayshave right.
I can just put a sign in theyard.
That's the thing, right?
That cracks me up unless, yeah,yeah, just put it on mls, right
?
So it's like we can't.
We can't just say I do this.
And, and the problem too is, ifyou take a room and this is not
disrespectful, so I'm not aboveanyone, let's be clear, but I
(08:31):
do this a lot If you go into aroom with a large pool of
realtors and you say what's yourdifferentiator?
What do you specialize in?
Everyone says negotiation,marketing, pricing, right, like
communication, which is comicalbecause, let's face it, some of
the communication not so good.
But if everyone specializes innegotiation, no one does.
(08:52):
If everyone specializes inlistings, no one does.
So what's your niche?
What do you offer above andover?
Like you can't I take pictures?
Great, I'm sorry.
It's just like you guys sayingwe'll call you back, awesome,
we'll close on time.
That's your job, right?
That's not a differentiator.
So now is the time that we getto either discount or elevate,
(09:15):
right?
It's both ways or options.
Speaker 1 (09:18):
Yeah, totally, and there will be a race to the
bottom of people that are tryingto do it for for a lot less,
because they can't figure outhow to differentiate, how to
elevate, and so there willdefinitely be that, which will
just mean that you got toelevate even more, because you
got to make sure that you createthe separation between the low
cost providers and people thatare that are still trying to
(09:40):
make a living doing this and notslashing their costs, right?
Speaker 2 (09:45):
Well, again, I mean it's okay, like, listen, I'm a
strong believer.
If someone calls me and says,hey, I, um, I'm going to for
sale by owner of my housebecause I don't feel that I need
a realtor, nor do I see thevalue in one, cool, right, like,
you're right.
And then someone else says I'mgoing to hire a realtor and I'm
only going to pay them onechicken, whatever, right, like,
(10:06):
I'm going to pay this discountprice because I don't feel the
value is there.
Okay, you're right.
And then my client will say,okay, because of the services
and the 28 years of experienceand growing up in the market and
knowing the knowledge and yourhouse prep and the providers
that you give us and thecleaning of the house that you
do and the pre-listinginspection and the over and
above whether it be thedocuments in the house or the
(10:30):
systems that we provide toapprove pricing, anything that
we do that's got value will wantme as their realtor.
If it has no value to them,they should go to the discount
realtor.
Right, and that's cool.
So I think I'm not trying toconvince everyone.
They're my client.
I think the mistake is noteveryone is.
I am not everyone's cup of tea,but I just proved this
(10:50):
painfully.
Um on a two million dollarlisting today that someone said
I have five prices.
Hurry up and get in this house.
Speaker 1 (10:57):
I need yours, nope yeah, we feel that, yeah, we get
that.
And, and Lacey and I woulddefinitely agree that, like
everybody's not our client,right?
Like if somebody is just hey,here's five estimates and I'm
just looking at which one'sgoing to be the cheapest and
they're not going to listen toanything else, then I'll be like
, hey, here's another name youshould call somebody working out
(11:18):
of their basement on theinternet, you know, and that's
probably who you should talk to.
Speaker 2 (11:22):
That's someone's right, like I think we get mad.
I didn't get mad, I mean, Ijust said, hey, you have four
right prices and, in theory,market analysis probably not,
but market analysis and plansfrom four, I would guess,
referred pretty reputablerealtors.
That's the only thing I canassume.
My fifth one is not going tohelp unless you can tell me that
(11:43):
the four you have did not offeryou, so there's something
missing.
Was their marketing plan notgood?
Was their pricing system notgood?
Did they not have theconstruction people in that,
because the house needs work?
Was there nothing there thatwas?
Provided you the clarity tomove forward with four people?
That my fifth estimate is goingto be what moves the needle,
(12:03):
because let's talk about thatand guess what the response was
Cool, thanks Bye.
Right, no, it was.
I want five prices.
I'll pick either the number Iwant, the person I can boss
around the cheapest.
I'm none of those three right.
So to me we can decide our timeis valuable or the.
The time I have to spend thisweek is on my three sellers that
I'm literally having theirhouses painted and rotten wood
(12:25):
replaced and rebuilding theirsteps and giving them the value,
and all my contractors andpicking out their flooring for
them.
Yes, we do all that, like Ipick out the floor, I go and
make sure the fireplace iscorrect, I go and make sure my
contractors show up.
That's our job, right, I havetime for that because that's my
client.
So I think, as we evolve,because that's my client, so I
think as we evolve, you know wecan't be a, you know, a
(12:45):
specialist in everything, right,and so to me that's the biggest
clarity.
I think, and maybe I'm why I'min such a good place.
I'm in a great place.
Now, let's be clear.
It is Getting less money.
Yes, have I worked three timesas hard this year?
Yes, I have.
But am I much clearer and havea lot of things?
I'm excited that we're doingsystems, that we're growing
(13:09):
services, that we're offering toour clients for, like, highest
level experience.
Yes, because that's the route,that's my road, like that's my
lane I'm taking.
Right, and I think if, ifeveryone is like on the, you
know you go to Texas and there'sI'm in Virginia, we're not very
big.
You know the eight lane highway.
If you're on all eight lanes ofa highway and these are all
your clients, you're in bigtrouble.
Right, like what's your lane onyour highway, that is yours,
(13:30):
and again.
Speaker 1 (13:46):
God love you.
If it's, I'm going to do it fora thousand bucks.
Do it If price is only an issuein the absence of value, Right?
So if you've got an absence ofvalue, price is all that matters
.
Speaker 3 (13:53):
That's all you have to offer.
But we also know too, chad Imean on our end the race to the
bottom doesn't end well, right,and we've been up against people
racing to the bottom for thelast few years.
And we've been up against peopleracing to the bottom for the
last few years and most of thosecompanies don't even exist
anymore, Because so they willand it will be a process, but
(14:14):
they will get themselves outbecause there's only like you
still have to make income, youknow.
So the racing to the bottom andtaking on more work and not like
it doesn't end well, so it'sjust a process.
You know that we, that we haveto go through, but I do think
that this is going to bring outthe best of the best, for sure,
(14:37):
and I do think that people willreally see what that value looks
like.
Because, to be honest, have wehad to have a whole lot of value
on the real estate side overthe last couple years when, when
it was so busy, like you, justhad to be able to put a sign in
the yard and open a door, andnot always, I don't, I don't
mean that so rudely, but notalways.
But now is that time and it'sgoing to be exciting to see the
(15:00):
people who do step up and shineand I I love seeing your
enthusiasm for what you know.
What we've been talking about alot Chad is is that growth
mindset right Is where we see,where social people see gloom
and doom and and when the peoplewho find the opportunity it's
it's it's inspiring.
Speaker 2 (15:19):
But that's the time, right.
I mean, if you look at thislike, if you're not doubling
down on, I mean I'm going tomore conferences, not less.
I'm reading, I'm subscribing toInman and Housing Wire and
listening to so many podcastsI've read I don't even can't
tell you I'm a speed reader, tobe fair but probably in the last
four months I've read 25 books,right, I mean I'm just
(15:44):
absorbing as much information toimplement what I can and
looking and saying, okay, whendo businesses grow Like?
When does?
When do things change?
When, when there's a massivedisruption?
And we have a massive disruptionright now, which gives us an
opportunity to prove our value,or we can't, and then we have a
problem.
So I think that if people werelooking at this and I don't care
what your industry is right now, but we're obviously talking to
(16:06):
lenders and realtors if youthink, okay, how do I
decommoditize my profession?
Like we can't be much morecommoditized, greatest irony
ever and why nobody talks aboutthis.
So the attorneys that weredoing the suing, that are saying
(16:28):
we're watching you becausewe're going to sue everybody who
made 40% as a fixed fee of theclass action suit.
So literally go on their websiteand it says we charge 40%
basically, which is the mostfixed fee ever.
But they are really all overthose realtors charging 6%.
I just can't get over the factthat no one seems to understand
to me this great irony.
(16:49):
And they're going hey, we madea lot of money, don't you worry,
we're watching out for you tomake more money.
And I'm thinking okay, allright.
Speaker 1 (16:56):
Well, especially because they justified the 40%
fee because that if they didn'twin they wouldn't get paid, that
they could do a whole lot ofwork and maybe not get paid.
Does that sound familiar toeither?
Speaker 2 (17:09):
Exactly Like.
Again.
There are times like I mean Imight list a house and three
days later it sells.
But, by the way, it's also sortof like I've been in business
28 years and everyone's like, oh, you have this great.
You know, I've learned for 28years and I'm learning harder
now.
But you understand, when I putthe sign in the yard which again
is all we do, right, we put, Idrive around all day.
(17:31):
I'm exhausted.
Speaker 1 (17:32):
Lacey said it, not me .
Speaker 2 (17:33):
I didn't say it, but if you think about it, let's.
Really.
The sign in the yard could havebeen one year and often for us
is six months of the firstmeeting and we got a stage.
We got a paint Like right nowwe're doing literally all the
flooring, all the landscapingrotten siding, the HVAC is
(17:54):
sideways, I've got yellowjackets in the yard.
I've had to redo all thelandscaping.
So we've had to hire all thesepeople.
It's been months literallypicking out the light fixtures
at Lowe's that we are going topick up to deliver to the
contractor on Monday.
This is a house, by the way,that's $350,000.
Now, I'm not saying that's not.
This isn't just a $2 millionhouse for all houses.
So when you see it, go on thein the you know market and, yes,
the sign goes in the yard,people are like, well, they put
(18:17):
a sign in the yard, uh-huh, andI've had hundreds of
conversations, met manycontractors gone through, some
that didn't show up, everythingsomeone struggles with to put
the sign in the yard.
So that's my value right Nowthat house will sell for that,
versus 70,000 less because ofthe work we did to prep the
house.
So again, what's my value?
If my value to you the consumeris the sign in the yard.
(18:39):
That's a problem, right, butlet's take some ownership,
because if the realtors don'tsit back and say, hey, let's be
honest, if we all use therecommended buyer agency
agreement that have been aroundfor years, which our area
required, my office you don'tget paid without one, so we've
used one for years.
If we had taken that asseriously as a listing right
(19:02):
when in the listing agreement,if we hadn't just walked in and
look, this isn't everyone, butif anyone says this isn't the
case in some areas, it's false.
If I didn't just walk into Lacey, your house, and say, oops, 6%,
I'm sorry, you have to pay that, my brokerage requires it, the
market, you know you have nochoice.
I can't negotiate it.
If it was a fixed sign here and, by the way, buyers, I'm free.
And then I show you houses andthen they went to closing and
(19:24):
went.
You made what that's on us.
That's on us for lack ofclarity and lack of treating the
buyer side like we did theseller side.
I'm sorry.
No one I've ever seen didn't doat least a listing presentation
where they got a listingagreement signed that laid out
the price and God hope theprocess.
But for buyers it was wild Westright, like pick you up here or
(19:47):
whatever.
That's my buyer, not really mybuyer, like no explanation.
Speaker 1 (19:51):
So and don't worry, I'm free to you.
That was great yeah.
Speaker 2 (19:55):
Yeah, so that's the problem, right?
So I think, if we own it andmove forward from it instead of
trying to work around it causenow people are like, oh, I'm
going to put it on this websiteand I'm going to put 3% on a key
chain and I'm like my God, justconsultations explained to the
seller, this is my fee, what Iearned.
Here's the structure of whatI'm going to recommend.
Here's what I expect You'regoing to be asked for.
(20:16):
Let's run net sheets, assuminglet's talk about your, what
you're willing to do, based onan acceptable offer and buyers.
Hey, for all of these services,this is what I charge.
By the way, we're going to getinto this.
I know Lacey's going to ask howwe're going to structure it
that we work super well with ourlender partners as realtors,
which is more important thanever, right?
We're going to get into thattoo, but that's our job, right?
(20:38):
If that, if those consultationsand the processes and
explaining the contracts and youknow the services that we
provide haven't been part of ourjob, well, shame on us, yep.
Speaker 1 (20:48):
Absolutely.
So what if you're coaching arealtor right now, before we
move on?
If you're coaching a realtorright now, what would you say is
for them to define their uniquevalue proposition?
Like, how would you set themdown that path?
Because I think that's where alot of agents are struggling.
They know they need to createtheir value proposition.
They've been told that over andover again but they can't
(21:09):
figure it out.
They keep posting where I seelike memes on Facebook and stuff
that's like here's a hundredthings that I do to deserve my
commission and I'm like no,that's your job description.
Literally, that's what everyrealtor does.
That's the job description of arealtor.
There's a reason why PatrickMahomes gets paid different than
the lowest rated quarterback inthe NFL.
They have the same jobdescription, right, but they get
(21:32):
paid differently based off ofthe value that they bring.
So how do you coach a realtorright now and how to define
their unique value?
Speaker 2 (21:46):
So I think so I'll answer it a couple of different
ways, but I will say, if I canoffer one bit of coaching too,
the biggest mistake, I think, asa whole that we do as realtors
and lenders and anyone else, iswe don't pay attention to a
question someone's asking.
Ironically, you're asking aquestion that sounds like I'm
not paying attention.
I promise I will, but if I canjust deviate for two seconds,
the biggest question, of course,if you're going to go into an
appointment, if you sit with abuyer or you sit with a seller
(22:08):
or you go to the grocery storeright as a realtor, people like,
oh, I guess you're never goingto get paid again, or whatever
they say or go.
It sucks to be you and I'm likeit's great to be me.
But in people, let's say, laceyasked me oh the lawsuits, oh
the lawsuits, oh, what's thatall about?
Right?
The irony is I do thisdiscussion with realtors across
the country and immediately it'ssort of like all right, here we
(22:30):
go.
Well, I am worth this and thisis what I get paid and I'm not a
discount broker, and I'm likeyou're not listening to the
question.
So if I can like help the realestate world right now, when
someone asks you about thelawsuits, smile and say, gosh,
let's say that's a greatquestion, cause there's a lot of
misinformation out there.
What have you?
(22:51):
Let's talk about yourunderstanding on it, cause then
I can really help explain, fillin the gaps and really kind of
correct the wrongs I keephearing.
So let's pause right there,cause I just want to say that
again.
Speaker 3 (23:03):
Yes, love that and I think it's the biggest coaching
piece.
You spoke about that on stageand I loved it, because we
instantly go into what ourresponse needs to be and we need
to listen to what they know andwhat they hear first, because
it changes, does it not, thewhole direction of what you're
going to say, based on what theyhave already know or what
(23:23):
they've already heard?
Speaker 2 (23:24):
But again we get to naturally like, look you're,
you're in theory in your headsomeone's attacking your income
and I get that, but quitefrankly that's not it and
usually it's wrong, and get todiffuse it and you get to be the
consultant, you get to explainit.
Like, to me, nothing is betterIf I, many times a a day, I can
say oh, what have you heard?
Oh, that's so interestingbecause I keep hearing that.
(23:46):
Can I just tell you reallywhat's going on?
Can I just briefly explain thisto you and understand the
benefits actually of thislawsuit, for clarity, like if we
can make this positive.
And, by the way, they didn'task you what you get paid.
They asked you about thelawsuits.
Or they say I heard that Idon't have to pay a buyer's
agent anymore.
Well, let's talk about what youheard.
Then they answered and saidwell, you know, you never did.
(24:07):
Just to be clear, you still andalways could put your own side
in the yard.
You can offer 500 bucks withoutwhatever it is you, your
business model and your abilityto do it yourself Hasn't changed
.
What's changed is the field inthe MLS, there's no longer a
compensation field and what'schanged is the buyers have to
have a signed buyer agencyagreement, right.
So the fact that you don't haveto pay you didn't right and so
(24:31):
and that the buyer's agent nowis going to have to be really
clear to the buyer what they'reoffering for their compensation.
There is no longer cooperativeconversation and the problem too
is, if you look nationally, therealtors are confused because I
can tell you like EXP, by theway, I'm not an EXP agent but
shout out to them on a morenational level.
(24:51):
If you haven't paid attention,read about it.
People lost their collectivemarbles because EXP said we're
no longer offering cooperativecompensation.
By the way, the whole basis ofthe lawsuit they're not saying
that we're not going tocompensate, that a seller isn't
willing in their way in acontract to compensate a realtor
.
They're saying that we nolonger, as brokerages, can share
(25:12):
commissions.
That's the lawsuit.
And people.
I hate eXp.
Exp is not for realtors.
It's like no, you clearlymisunderstood the whole basis of
the suit.
So I think if people reallyjust sat down and understood it
and, by the way, you have toknow it better than your client.
I can't sit with a client whoknows more about it than me Now,
(25:32):
at this point they won't,because I've studied this for ad
nauseum for hundreds of hoursbut you have to dispassionately,
non-emotionally, say no,actually, this is what it means.
And here's the benefit to you.
Here's the benefit to you asthe buyer, here's the benefit to
you as the seller.
Here's what I recommend we do.
The strategy I recommend is Xright, that's why they want us.
(25:53):
So this whole, I'm not discountbroker.
They didn't ask you that, right?
So take a breath.
What have you heard?
Well, that's interesting.
What do you mean by that Really?
Then go, okay, now I know howto answer this question.
So that's that's.
Speaker 1 (26:07):
I'm sorry that was off topic, but um no, I love it
Cause it's actually relevant forfor lenders to to ask that
question because it's somethingwe should ask.
All the time People are like ohI, you know rates are rates are
going down Right, or you know,whatever it is, it's well, tell
me what you've heard.
I mean, it is relevant to bothof our fields, to everything, to
(26:27):
all sorts of topics, not justthe settlement.
So thanks for dropping in there.
When I saw you speak last,that's one of the big things I
wrote down.
Use the phrase tell me whatyou've heard about to answer
most questions.
Speaker 2 (26:38):
So let's talk about that when?
Where do you, where did youhear this?
Or what do you mean by that?
So I make sure I answer thecorrect question.
But finding our superpower iswhat you were asking earlier,
like how do we, how do wedifferentiate?
And, honestly, that's reallyhard.
It just is because in acommoditized business, we all
say the same thing.
We all say I'm look, and weshould be like I'm a great
(26:59):
negotiator, gosh, I hope so.
Right, I'm a great communicator.
Okay, marketer, I'm great atmarketing, I'm great at social
media, like all the things.
I can get this done quickly.
I'm going to make you the mostmoney.
That's all the basics, right?
Those to me, are not traits.
I mean, they're traits butthey're not a differentiator.
Those are the basics.
(27:19):
So to me, the differentiatorslook, if I've done this for 28
years and I boil down, I thinkI'm really good at what I do.
I think I can help.
If you need to sell your house,I can help you between a
hundred thousand and probablytwo and a half, 3 million, right
?
So then you think, well, that'snot a real differentiator.
But what am I really reallygood at?
So I'm really really good at afirst time home buyer because I
(27:41):
have systems and time.
I will spend a lot of timeexplaining the process and
really making a bunch ofcomplicated noise simple, right?
So you don't need to worryabout all these things and I'm
not just going to send you aform to sign.
We're going to sit down andwe're going to go through your
wants and needs and why this maynot be the right time for you
to buy.
And this is what's importantand this is the process that we
(28:03):
know works right, and we'regoing to handhold you every
single step of the way, likethrough the whole thing.
We're going to take care ofeverything for you.
I'll make sure your movers areset.
I'm going to make sure you havean amazing experience.
You're going to have a surprisein your fridge when you're done
, like we're going to take careof all of it.
I know I'm.
You know you buy your firsthouse.
You just never forget it, right, like it's home ownership.
(28:23):
It changes their lives forever.
So I'm really good at that.
I'm also really good at takinga home sale process.
So if you've lived in yourhouse for 30 years and you've
got too much stuff and you don'tknow what to do, I know what to
do.
I am a wizard at that.
So my specializations right arereally taking you through the
whole process of decluttering,staging, home improvement,
(28:45):
getting the contractors in thisentire process, the pre listing
to get you the most money iswhat I'm really good at, right.
So let's talk about what arethey really good at.
Now I have realtors that arelike I don't like a first time
home buyer, cool.
So is it a downsizer?
Is it a corporate move?
Are you an expert inrelocations?
Are you an expert in what phaseof the market?
(29:06):
Military, like, if my spousewas in the military and I
specialize in physicians, right,I know that physicians are my
niche because I really know yougot no time.
I've got this covered for you.
Here's how we're going to dothis for you remotely.
So they've got to come up withwhat are they really good at,
right?
Speaker 1 (29:25):
And what do they want to become really good at?
Because there's agents thathave not sold you know anything
yet, and they're trying tofigure out how to navigate this
market and how to create theirvalue proposition.
So they've got to lean intosomething, right?
Well then, they've got to learn.
Speaker 2 (29:38):
So are you an expert in certain neighborhoods?
Are you an expert?
Because when you're brand new,honestly, you're not an expert,
and then it takes you a longtime.
And then people I think arescared to define a niche because
you alien other people, Nottrue?
If I can help anyone who'sreally got a lot of work to do
with their house, imagine howeasy it is for me If I, if you
walk in, if I can walk in andyour house is already sweet, it
(30:00):
doesn't mean I can't help you.
It's just that we can proceedmore quickly.
So I think that expert ineverything is expert in nothing.
So look, but here's like if I'm20 years old, I'm not going to
say I'm an expert at seniorslike I always laughed, because
when I started I was 25 andeveryone's like you should get
your senior real estatespecialist.
And I was like what?
I'm so sure that it's going tobe convincing based on not that
(30:22):
I can't be a specialist, butlike I don't.
My family, my dad, was in themilitary.
He just passed.
But is the military buyer myspecialization?
I can certainly do it and haveworked with tons because of NGIC
and DIA here, but is itnecessarily the thing I know
better than anything else.
No, so maybe some people aregreat.
My brother's a licensed homeinspector.
So can we say we know homes andprepping homes and getting your
(30:46):
home, that we're gonna avoidexpensive repairs because we
take that time?
On the front end?
Yeah, because I've got aspecialist.
So I want them to think aboutare they specialists in
marketing?
Maybe they can get your homesold on social media better than
anyone else.
That's what I'm really good at.
Then that's what they marketmine.
That's what I'm really good at.
Then that's what they market.
So the problem is everyonethinks, oh, I'm going to say I'm
(31:06):
a great negotiator likeeveryone else won't.
So for me it's like they've gotto find.
To me it's like what gets themsuper excited.
Like people say, to find whatyou're really great at.
What would you do every day ifyou didn't get paid?
Like what would get you upevery day if it wasn't just your
bread and butter?
But man, I know that betterthan anyone else.
And for me for months it wasthe lawsuits.
Like I've been talking aboutthese lawsuits, I mean, for I
(31:26):
know I've read the whole NARreports, I read every article,
I've watched every podcastbecause it was that important
Right, and and that's probablywhy I got through the noise of
it so much faster is I was like,well, this is not a big deal.
Right, Like I'm not worriedabout demonstrating my value,
I'm not worried about explainingmy opinion.
And again, if a client says I'mjust not paying you or the other
(31:47):
agent, that's awesome, theywill find a realtor that will do
that right.
So I think that's the biggestthing right now.
What is my line in the sand?
And also, like, what are mynon-negotiables?
Like, if you're rude to me ormy team not, Like you're not
going to me or my team not, likeI you're not going to.
And if you don't want to followmy process, if you're like no,
no, no, no, I'll use my ownphotographer, we're going to do
our own.
(32:07):
No, like that's cool, A realtorwill gladly probably let you do
that because that'll save themmaybe some money.
That's just not how we work.
So I think, if we're clear onmy non-negotiables right, Like
no jerks and no one that doesn'twant to pay me, I mean those
are kind of basic right.
But I think if people reallyand I've spent years and
(32:27):
continue to I'm getting coachedon it now, Like I'm about to go
through, with Renee Rodriguez,an entire ethos exercise.
It's three weeks.
I feel like I know myselfpretty well, but I'm like again
I got to go to a higher level ofwhat's different about our team
and what I'm passionate aboutto help my niche of clients.
So I think it's a constantrefinement and it's so much fun,
(32:47):
yeah.
Speaker 1 (32:48):
Like, I love it Well that's what you and I bonded
over too.
Is just that like idea of beinga lifelong learner, like
looking to elevate constantlyand I think that that's where a
lot of people miss the boat,right?
Is that like, if you justcommit to that and you commit
intentional time around thatthing, you will come out on top
(33:09):
with this, like create yourniche or into being curious and
being creative around that andgo for it?
Like go go play big with that,right?
Speaker 2 (33:19):
It's just more fun, right, like I mean, I think,
look, I'm, I'm very like,authentic to who I am.
Right, like I am.
I might not be for some peopleI'm I talk kind of quick I got a
sleeve full of tattoos.
I I am very loving of allpeople.
I am not going to accept peoplebullying anyone for any reason.
Like, I just know who I am andI think, look part of that.
(33:40):
I'm now 52.
You know what?
Was I that confident at 30?
No, because when I was 30, Ireally wanted to.
The funny thing is is you evolveright At 30,?
You know, in my thirties I wasin a coaching program and I just
wanted to beat you.
I just had to beat you.
I was going to, I needed tosell one more than you, because
that was my driver and notbecause I didn'm like, how can I
(34:01):
bring you with me?
Like I don't care if you're inthe office next to me or across
the country.
How can I?
How can I help bring you like,how can I help you evolve into
your best?
Cause I don't feel like if youdo well, it's taking from me and
I think that's the biggestproblem right now is it's like,
oh, I've got to capture this andthere's not enough.
There's plenty, right.
So, like, how can I help you?
(34:23):
You know, find your thing which,by the way, is not my thing
right?
Like I'm a sheller.
People are like, well, what'sthat?
I go shelling and look forshells with old ladies and most
people are like you're crazy butI love it.
So you know, my people are notyour people.
The way I do things is, and meelevating services and doing
more and more, a lot of peoplehere are like I don't want to do
(34:43):
that.
Awesome, don't do it, right?
So I think, if we think of itthat way, like how we bring our,
you know, like to me look as anindustry, if we don't fix our
names and we don't elevaterealtor to another level and
what we provide and the serviceswe offer, we go by the wayside.
Right, and same with you guys.
(35:04):
If we don't team up better andI know Lacey wants to talk about
that if we don't really worktogether not only for ourselves
but for the best of our clients,then our value diminishes.
And you know, I truly believethat.
Speaker 1 (35:16):
Yeah, Lift as you climb right.
That's a, that's a big thing.
That's in the back of my mindright now.
Well, yeah, so you mentioned italready that's.
One of those niches is that youhave people like you have a
team, not just your real estateteam, but you have like your
go-to we could say vendors, butlike, literally like your dream
(35:37):
team You've assembled, you'vecurated that.
Speaker 2 (35:39):
My tribe.
It's my tribe right.
Speaker 1 (35:42):
Right, your tribe, and that's part of your value
proposition.
And so, not to soundself-serving, but I want to talk
about that because, from alender standpoint, I do believe
that we need to be part of thattribe, that we are a more
important piece of that thanever.
So how do we, I guess how do webring that together?
(36:03):
How do we make sure thatrealtors understand the value in
having that curated dream team,their tribe?
That is part of your valueproposition.
How did you come to that andhow do you deploy that?
Speaker 2 (36:17):
So I think, look, you know people, they hear team and
they're like oh, she has a bigteam.
Let's be clear, it's me and twopeople.
I do not have a big team, I,that's just not how I roll, but
I have a great tribe, and so Ithink that it's a mistake to not
think how do we work together,how do we help each other, but
how does it benefit the client,right?
So let's talk about I've alwaysit's hugely important for me to
(36:40):
have my, my lender partner,because we absolutely are like,
the success of this for theclient is massive.
So we're talking about buyersnow mostly, right, so to me,
especially now.
So here's what I'm going to see, if I see, and that this is so
new, like we've been sinceAugust 5th for everyone else,
it's just been a couple of daysright Since these have taken
effect.
(37:01):
So lenders in terms of addingvalue.
So I'm going to hop around alittle bit, but I think it's
important Right now.
I think, for any lenders thatare partners with their realtors
, it's reaching out and findingout, like, what's your plan
right now that we can worktogether even better, because I
think there's still going to be,I think, a lot of realtors, the
(37:22):
world they're going to have to,are they going to get in huge
trouble Cause, like I said, bigbrothers watching are going to
adapt to begrudgingly.
And I think at the door whichis a mistake they're going to
get a buyer agency agreementsign.
Hey, oh, I can't open this door.
Here's my key, but sorry, itdoesn't work till you sign this
document.
That's a massive disservice,right?
So, number one, the buyerconsultation huge.
(37:42):
But how does that bring thelender in?
Okay, let's talk about howthings have changed.
So let's just in a selfish way.
So if I'm a realtor, I'm goingto be selfish about it which, by
the way, selfish isn't alwaysbad and I need to make sure I'm
going to be compensated, right.
So I have to explain that.
But, furthermore, I can'tassume anymore what that unknown
seller in an unknown house thatI haven't seen yet is going to
(38:04):
offer or not offer, right, andif I'm doing the best job for my
client, that means I'm reachingout.
So, right now, there's two ofyou.
I'm picking Lacey, lacey, andnot because I'm not picking you
Chad, but Lacey's my lender.
Okay, lacey's my lender andactually, chad, you're the buyer
.
So I'm having my consult withChad and I'm explaining my.
This is the services I offer.
This is the fee that I chargeand my expectation is and just
(38:27):
so Chad knows, as the client, Iwill be writing that into the
contract.
By the way, realtors, only wayyou're going to get paid.
I don't know what people aretelling you, but I hate that
people don't say they're writingin the contract.
Yes, you must.
So anyway, that was an aside.
But, chad, let's talk about howwe're going to get this, how
this compensation is going tohappen.
I'm going to be writing it intothe contract, but we do need to
prepare and talk about what ifthat seller let's say there's 12
(38:48):
offers, right, and that sellernow who was offering
compensation, says too bad, sosad.
So here's what we need to do.
Like I know, we've already setup a consult with Lacey, we've
run some numbers, but I'm goingto have Lacey run some scenarios
for you, because we need to beprepared in the worst case
scenario, that that seller isnot going to compensate me at
all.
I can't have this be a what arewe going to do now?
(39:08):
So Lacey's going to show youscenarios of what might need to
happen with your down payment,your closing costs, adjusting
pricing, what the scenariosmight need to be in the very
worst case.
By the way, I don't thinkthat's going to be common, but
we have multiple offers and wehave to figure something out.
I need you to be prepared forwhat those numbers look like so
that we can be on the same page.
So Lacey's going to rundifferent scenarios based on the
(39:31):
seller paying all thecompensation, part of it, you
know, maybe again one chicken ofit, two chickens.
I don't want to be fixingcommissions, but she's got to
have you, chad, prepared so thatwhen that happens and I go show
123 Main Street and they'reoffering X and I charge Y, I
just want to be again we don'tfix it.
Yeah, it's good that Chad goessweet.
(39:52):
That's option B, I got it.
I know exactly what I need todo.
All right, we're writing thisoffer.
I'm competing, so I'm not goingto ask for more.
But, by the way, guys, no onetalks about what I charge is
what I charge.
I can write whatever I wantinto that agreement, as long as
it's the agreement Chad and Ihave.
What is offered anymore isirrelevant.
This is the next mistake.
All the people that are likethis is not worth an offer or
anything, Write it in any wayunless you're in multiple offers
(40:14):
.
So it's a negotiation piece,but to me the long and short of
it is the lender realtor partner.
We need to work together evenmore as soon as.
Chad comes to work with me and Isend him to Lacey to get
pre-approved prior to ourconsult, I need to call Lacey
and say Lacey, chad's going tobe coming in.
Just so you know, mycompensation and my agreement is
X.
So when you're having aconversation with him, I need
(40:36):
you to run those numbers becausehe has to be prepared.
And let's, here's the question,the sphere right out here what
if Chad just can't?
What if Chad can't pay thatamount?
Well then we're going to haveto have another conversation,
(40:56):
right?
Am I just going to ditch Chad?
No, because he's my client,right?
This is how things work.
So the seller can pay this much.
Maybe Chad can pay this much.
I have to use my remember ournegotiation skills.
I have to use my putting thingstogether skills to make it
happen.
So, listen, lenders listeningright now.
If you're not reaching out toyour realtors, I always think
it's funny, because I knowlenders are like what do I say
and what value do I provide?
We think calling your lender,your realtor partners, right now
(41:17):
and saying hey, marjorie, Ijust want to make sure that we
are set so that, when we havingthese conversations, we can make
sure that you're going to getpaid Right.
Okay, that's important to metoo.
So's the basics.
So to me, if I laid it to thewild wild west which I don't
understand how people don't doanyway and they go over here to
(41:37):
who knows who, 1-800 loans dot,xyz again, I don't know.
Um, that conversation is notgoing to happen.
Or does that person say youdon't need a realtor?
I don't know, because there'san unknown on the other end.
So I need it and it's by theway.
I'm not working with you, lacy,because you say they need a
realtor.
I'm working with you becausewe're solving a problem.
(41:57):
The potential problem is thatbuyer is liable for compensation
to me.
How do I fix the problem beforeit happens?
So it isn't a shock or areaction, because I assure you l
what's going to happen is theseconversations won't happen and
your Lacey's going to get a callthat says hey, lacey, I need
you to find me my 3%.
That's horrible.
That is not taking care of theclient.
(42:20):
So to me, that relationship, mytrust in you, my faith in you,
has to be there anyway, becauseyou have to do the process the
way I need it done.
My job is not to chase you downright, I need to know they've
made loan application and ifthey haven't, you better reach
out to me because I promiseit'll happen quickly.
I need to know the appraisalhas been ordered.
I need to know that it's comein, and then there's not a major
(42:40):
issue.
I need to know the closingdisclosure has gone out Like
cause.
We're not gonna close on time,not going to close on time Like
that.
So my partner and I are veryclear I need this, you need this
.
If I need to be bad cop, I willgladly be bad cop right In a
very loving, kind way.
But what do we do for eachother?
And what is anyone who has hada bad experience, whether you're
a lender that had a bad realtorand yes, we exist too and you
(43:03):
think, oh good, god, or viceversa, where we're thinking, man
, I crushed it, took the bestcare of my client, but the
lending side was a disaster, orvice versa, I don't care how
great you thought you did, itwas a bad experience for that
client that does not getreferrals, or a lifetime client.
So, but to me, take it further,like if you think, like your
inner team is that bullseye anda?
(43:24):
You know, like you're playingdarts and you got the bullseye.
So my three people in our team,that's the inner, and then my
next circle is my tribe, becausemy homeowner's insurance
provider has to kill it, myattorney has to kill it, my home
inspector has to kill it.
By the way, all the vendorsthat take care of me that get
into houses right away.
They can't not show up.
They can't do a bad job, sothese people have to I get the
(43:49):
business.
They have to make me look good,take care of me, really be
great with my clients, whichthen makes my clients lives
easier, which is why they'reworking with me, right Like.
There are still people that arelike here's a list of vendors,
good luck.
I'm like what are you doing?
Speaker 3 (44:02):
How do you, marjorie, when you have a client that
comes to you and they've alreadybeenapproved with some lender
that you don't know trust isgoing to get you there, which
puts your reputation, you know,at stake, like I think that's
the biggest piece with my agentssometimes is is what, what is
the best script or what?
What do you?
(44:22):
How do you like to get throughthat?
Not to steer them to yourperson, but to make the client
believe that the reason you'redoing this is for their best
interest?
Speaker 2 (44:32):
Well, I think the thing is sometimes it's not just
the name.
So again, chad's my client andChad says I'm working with XYZ
lender and I'm like, ooh okay.
So, chad, I'm going to take onesecond.
So I don't know this lender, soI'm just going to say right
away that I have no idea thattheir processes are like mine.
I do not know that this linethat we're going to cross isn't
(44:53):
going to have things.
So here's the first thing I needI need you to get me a
breakdown of all your costs,because I can't tell you in good
faith what's happening unless Iknow.
Here's what the fees are, here'swhat they say.
I actually then need to callthem because in our area, a full
approval includes anunderwritten appraisal and most
lenders don't do that, and thenit messes us up and then it
delays closing.
So if you could get thosenumbers to me, I really need to
(45:15):
review them, because right now Ihave to tell you, I have to
make sure you're clear, becauseI don't know this person.
I cannot tell you that I haveany control over this part of
the process or any ability tohelp you if and when it should
go wrong.
Are you okay sharing that withme and then letting me have a
conversation with that lender,because, quite frankly, I do
this every day and you don'tknow what you don't know, so I
(45:36):
wanna be able to say thatdoesn't look right.
Or, and again, if that's yourtrusted person, great, but I'm
gonna have to work reallyclosely with them.
So I need that information sowe can move forward.
I like that.
I'm not going to talk them outof him yet because, quite
honestly, that's their brotheror that's their uncle.
There's a reason they work withthem and I'm going to say that
(45:57):
to start now.
Often, if they send it to me,I'm like, well, like no.
Or they're like, oh, here's ourpre approval letter.
I'm like it's not a preapproval letter and and hey,
you're going to have to get methis letter.
We don't do that.
I'm like that doesn't work here.
And then I say, look, I needyou to talk.
Depending on if I hear a nameand I'm like, oh, no, I'll say
hey, and we're going to haveanother consult.
(46:19):
I know you did one and you knowyou can tell them what the
credit score is, in case they'realways scared by the way of the
credit pool.
It's like, well, let's, let'stalk, because I have serious
concerns.
Now, if I've had a badexperience, I just say, no, you
can do this, but I'm justwriting down right now that this
is going to be an absolutedisaster and this is going to be
a nightmare that you're goingto regret.
(46:40):
So it just depends on whatstage it is.
But I think that's our job.
Like if they recommend aclosing attorney that I know is
awful.
I'm going to say no.
Now you can.
I can't tell you who not to use, but let me just tell you
what's going to happen.
They're not going to respond,we will not close on time, they
will not disperse, you will notget keys 28 years right.
So I think it's my job If Chadsays I'm going to use them cool.
Speaker 1 (47:14):
But then when it Well , I think the my assumption and
not an assumption, butunderstanding is talking to a
lot of agents is that they justif they hear I'm already
pre-approved with somebody elsethere, that's okay, that's the
end of the story, right?
Like they're just kind of like,well, they're already
pre-approved.
They don't ask the questionlike how married are you to that
person?
Like how do you find them?
Speaker 2 (47:35):
Problem two again now , listen, I have my chosen
lender that I want everyone towork with.
There are a couple that I knoware really good.
They're just they, they're intown and they do a great job.
And if they're married to themand I know, listen, I've worked
with them and if it weren't formy relationship with my chosen
lender, I would, you know, workwith them too Then that's a
different story than I think our, our loyalty is to, of course,
(48:00):
you, but ultimately to theclient.
So when I know it's going to bea you know what show, it's a
massive disservice not to say it.
And again, I tell them.
So part of the consult is,listen, lacey, I have a team of
professionals that I work withand have worked with, and they
do an amazing job for my clients.
I work with them personally.
I'm going to be recommendingpeople.
(48:20):
You get to ultimately make thedecision.
I just know for the process andclosing to happen as we want.
This is how it.
It works really well.
So if they again say, causesometimes, frankly, oh, it's my
cousin, I'm not going to, butI'm still causing, calling like,
dude, cousin, here's how we doit here.
Like, I need this, I need this.
I need this, I need this.
No, you can't give me the, theletter that you send at the
(48:43):
beginning and call it anapproval letter.
I need no approval letter Likeum.
So to me that's our job.
But I think look as if I want asecond opinion.
Yes, I will often say listen, Iwant you to talk to my lender,
I want to compare, right, like Ineed to make sure I want you to
talk to them, but I think notasking the questions is the
problem, not voicing when weknow there'll be concerns.
(49:06):
Yep, right, so I think again.
So there'll be concerns, yep,right, so I think again, part of
the process should be beforeyou meet, I want you to talk to
my lender, and I tend to avoidthat a lot, except if it's
someone that comes in who hasthis.
They're already establishedwith their lender, and I'm new
makes it way harder, right, whenit's me that starts and then I
get to establish.
It's way easier because I'm thefirst person, I'm the
(49:32):
consultant, that's referringversus the receiver.
Speaker 1 (49:33):
Yeah Well, and you said it earlier, I think that it
makes sense to also bring upthe fact that you need to assume
that the conversations that anyif you don't know what
conversations that lender ishaving you probably should
assume the worst.
Just looking out for yourselfis like they could be trying to
talk them out of you using anagent.
They could be telling them thatthey could write up the
(49:53):
paperwork for them.
There are lenders that aregoing to get licensed to try to
take business away from realtors.
They're sick of getting businesstaken away from them, right?
So there's a ton of that.
Speaker 2 (50:05):
Here's the funny thing, right, Like the realtors.
So the big thing across thecountry in different areas is
the realtors that are alsobecoming lenders and the lenders
that want to be realtors.
I'm like guys I'm going to saythis in the lovingest way
Realtors don't know math and sofor, and we need to fill in 20
spots in a contract and if youguys, if realtors work with
enough realtors, that's alreadyhard for some realtors, they
(50:26):
don't need to be doing the mathand vice versa.
You got to stay in your lane ofgetting your part done and I
will take care of your clients.
Like, I think, if you're reallygreat at what you do, it
doesn't mean you can't addservices.
It doesn't mean you might havea partnership or whatever.
But to say the market's gottentough, I'm going to do this
other person's job when I'm notdoing mine really well to me is
(50:46):
crazy.
I agree.
Speaker 1 (50:48):
Amen, amen, marjorie yeah.
Speaker 3 (50:51):
Awesome.
Well, this has been wonderful.
We I mean, we are, we are outof time.
But, marjorie, I just, you'rejust always so real.
Speaker 1 (51:02):
Yeah, I agree a hundred percent.
This was awesome.
I think we should do it againbecause I've got more that I
want to ask you.
But man, we've got to cut it,cut it off.
But I do want to get this inhere because you do coach
realtors and a lot of realtorsthat need coaching, and you do
it nationwide.
So how would somebody get aholdof you, marjorie?
Speaker 2 (51:20):
So what I'm excited about is we're partnering and
doing next level coaching forrealtors, and so to get in touch
with me, probably the easiestis you can go on Marjorie Adam,
team realtors.
Send me a message on Instagramor Facebook Marjorie at Marjorie
Adam A-D-A-M teamcom.
Just Google me.
Send me an email.
We're going to be launching thesocial and everything else
(51:42):
we're really careful about.
We're growing slowly, but Ithink right now, affordable
coaching is what's reallyimportant.
I've done super expensivecoaching and now it's like
listen, let's help people.
Everyone needs help in a waythat more people can do, and
that's what I'm super passionateabout.
Speaker 1 (51:59):
Yeah.
Speaker 3 (51:59):
You guys can also reach out to us.
I mean Chad and myself.
We can get definitely get youin direct contact with Marjorie
as well.
Speaker 1 (52:06):
Yeah, a hundred percent, we'd love to do it.
Marjorie as well.
Yeah, 100%, we'd love to do it.
Speaker 2 (52:10):
Marjorie, you're amazing.
Thank you so much.
Thanks for having me.
I really appreciate it.
This is always great, the morethat we can get people excited,
focusing on their specialtiesand partnering with.
You know, the lenders andrealtors and just you know.
Seeing this as an opportunityand not a setback, I think, is
what I want to do.
Speaker 3 (52:25):
I couldn't agree more I think we are.
So I mean we are an industrytogether, you know, and and to
be able to collaborate togetherand figure out how to, how to,
to keep moving forward andgrowing together through this is
is where it's at.
So we appreciate you.
Thank you so much.
Speaker 1 (52:39):
Yeah, thanks, marjorie.
All right, well, until nexttime, guys, thanks for tuning in
and share this.
This was great.
Share this with somebody thatyou like.
If you didn't like it, thendon't share it, I guess.
Speaker 2 (52:50):
But we appreciate you and share it with someone you
don't like.
Speaker 1 (52:53):
Yeah, share it with someone you don't like.
If you didn't like it, I'm sureyou loved it, though, because
Marjorie knocked it out of thepark.
So thanks, guys.
We will see you next time.
Bye, see ya.
You.
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