Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 3 (00:12):
Hello, hello.
We are kicking off episode 3 ofthe Think Biz Podcast.
I am one of your co-hosts,Garrett Hammons, and I have here
with me my other esteemedco-host, Nolan Clay Rogers, and
our guest today is Dr ShannonWildman.
(00:34):
So we're excited to be able totalk a little bit today about
what Shannon does in the realestate industry, but also
probably dig into somenegotiation types of tactics.
Is that kind of along the linesof what you were thinking,
Nolan?
Speaker 1 (00:53):
Sounds pretty good,
Garrett.
It sounds pretty good to me.
Shannon had a greatpresentation this morning at our
Think Biz Solutions networkinggroup, and it's also a great
week for a number of things thatyou can get up to in your
business.
If you don't mind me giving alittle spiel, about some fun
stuff going on in the BusinessAlmanac.
Now I have a bunch of old booksI pull from, as a lot of people
(01:14):
will know, and so some of thethings are is understanding that
different days are good for onebusiness aspect or another.
So, for example, tomorrow,wednesday, april 23rd, it's
gonna be better for any coldemails or admissions or
advertising stuff that you needto do against your competitors
or any stakeholders that arebeing really finicky the past
(01:36):
couple weeks.
So get those cold emailswritten tomorrow morning and
then send them whenever you want.
Thursday on the other hand,we've got a really good day for
love and binding of contracts Ifthere's any new people you want
.
Thursday on the other hand,we've got a really good day for
love and binding of contracts Ifthere's any new people you want
to partner with or collab.
Really focus on Thursday.
That's going to be a great dayfor just asking new people for
some contract options, justdoing those cold reach-outs to
(01:56):
some people maybe you haven'ttalked to in a while and see if
you can make something happen.
Speaker 2 (02:01):
Woo-hoo.
Speaker 3 (02:08):
I know it sounds
happen.
Woohoo, I like it.
No, no, no.
This is the first time thatNolan's getting to bust out some
of what he does, and he'sincredible.
We'll just give a quickintroduction of ourselves.
You know, if you've listened toother episodes, you've met us
before, but I'm Garrett Hammondsand I do digital marketing, so
a lot of the things that I thinkabout on a day-to-day basis has
to do with all the changeshappening online, which is crazy
(02:32):
right now.
And then, what about you, nolan?
What's kind of your day-to-day?
Look like my day-to-day is.
Speaker 1 (02:37):
I say prayers for
lots of different people that
crack open a lot of differentholy books, and so I make sure
to give some spiritual advisingthat we really don't have access
to anymore, even your favoritepreachers and everything else.
They're going to be scared toanswer some questions that I
have some really old books thatcan help us out with.
But then we have one of themost important industries over
here that Shannon takes care ofis our home and hearth itself.
(02:58):
So, shannon, how are you doingthis morning?
Speaker 2 (03:01):
Hi, I'm doing great.
Thank you guys so much forhaving me.
Most welcome.
I love to have you here.
Speaker 1 (03:06):
You had a great
presentation this morning.
Thank you, I'm curious, Shannon.
So what actually brought you tothe business of real estate in
general?
Was it solving your problem?
Was it solving somebody else's?
Speaker 2 (03:17):
What got you into it?
Actually, I had a problem tosolve About seven years ago.
My boyfriend who's still myboyfriend now, but at the time
he had an infected tooth.
They went in and lanced it.
They didn't give him anyantibiotics, we didn't know, but
the infection spread throughhis body into his heart and they
(03:41):
had to end up giving him and hewas only 40 at the time they
had to give him open heartsurgery, repair a valve, a whole
bunch of things just startingout, so definitely take care of
your teeth.
Speaker 3 (03:54):
If you have an
infection, take antibiotics.
The little PSA for today.
Speaker 2 (03:58):
Yes.
Take care of your teeth so wehad medical bills and he wasn't
able to work and I was teachingcollege at the time and a
professor that I was teachingwith did real estate part time
and said this might be a goodway for you to earn extra money.
And when he first said that Ilaughed.
I didn't know anything aboutreal estate.
(04:18):
We had bought a house, but Iwas not.
You know a whole big part ofthat and so I didn't really know
anything about it.
I thought it must be terrible.
He was such a nice, solid,down-to-earth English
professor-looking person and Ithought, well, if he can do that
(04:38):
, you know, then it might be agood idea to look into it.
Good idea to look into it.
So, you know, I went ahead andmet with his mentor and very
knowledgeable, and got me reallyexcited.
So I took the classes, took thetest.
Uh, eight months later I wasdoing real estate full-time wow
and I will never be able to doanything else.
(05:00):
and you know, I'm still teachingteaching people how to buy a
house, teaching people how tobuy a house, teaching people how
to sell a house, and so gladthat I had the chance to get
into this industry.
Speaker 1 (05:12):
That's amazing.
A big shift, then, from beingDr Shannon to now the doctor of
your home.
Speaker 2 (05:17):
It was it was, but
it's actually a little less
cutthroat in real estate than itis in academia.
Speaker 3 (05:24):
So oh, fair enough.
Speaker 2 (05:25):
Interesting.
Speaker 3 (05:26):
So okay, what were
you teaching originally?
What was your?
Speaker 2 (05:30):
Education classes,
teaching future teachers.
Speaker 3 (05:33):
Oh, okay, the
pedagogy kind of.
Speaker 2 (05:36):
Yes, my doctorate's
in historical, social and
philosophical foundations ofeducation.
Speaker 3 (05:41):
Wow.
Speaker 2 (05:42):
And my focus was
international education and
multicultural education.
Speaker 1 (05:47):
Now is there a
specific framework that you
still keep in your back pocketas far as educating people now
about real estate and buyingtheir own home?
Speaker 2 (05:55):
Yeah, um, really, the
teaching future teachers
necessarily doesn't lend itselfdirectly to real estate.
However, teachers necessarilydoesn't lend itself directly to
real estate.
However, education in general,um, you know, knowing where
people are in the process, youknow, knowing how much knowledge
they already have, how muchthey need, uh, also, just
knowing how to break the thingsdown into easier to understand
(06:18):
things.
So you know, definitelyteaching has really helped with
being able to do real estate andI'm sure your clients are very,
very thankful for breaking downthat process for them.
Speaker 1 (06:24):
Yeah, well, and
definitely teaching has really
helped with being able to doreal estate and I'm sure your
clients are very, very thankfulfor breaking down that process
for them.
Speaker 2 (06:29):
Yeah, well, and I
have some that don't want to
know anything about the processthey're like I have this home to
sell, I just want you to sellit, I don't want to have to deal
with it.
You know, I just want this outof it and want to be done.
You know, and that's fine aswell too.
But then I have people wherethey want to know every single
step of the process Okay, Eventhe things they would normally
be part of, like some of thenegotiations with another agent.
(06:52):
They want to know what all wassaid and want to know about the
process and everything.
Speaker 3 (06:58):
Yeah, I remember my
wife and I we got our first home
goodness about six years agonow five years ago, something
around there and it wasintimidating.
When we there's a lot likeescrow, what does that mean?
It's all kinds of differentthings that, as a first-time
home buyer, it's kind of scary.
Speaker 2 (07:22):
Oh yeah, oh yeah,
yeah it is, yeah, it is.
It's kind of scary, you know.
Oh yeah, oh yeah, yeah it is,yeah it is.
And if selling your homeespecially if you've been in
there for 20-30 years, it's theonly home you've really known
for most of your life, I meanselling it can be, you know, a
traumatic experience.
So not only do you notunderstand necessarily the whole
process, but you know thenyou've got all the feelings
behind it too.
(07:42):
So yeah, it can, yeah, it canbe intimidating.
Speaker 3 (07:51):
Now, a lot of the
folks who listen to the podcast
are business owners and folkswho are trying to be able to
figure out how to be able to runthe day-to-day of their own
companies, and I know thatthere's so much crossover in the
conversations that you havewith folks every day on things
like negotiations that you weretalking about in your
presentation today.
Can you tell us a little bitabout some of those methods that
(08:14):
you were sharing with the groupearlier in our ThinkBiz
referral group?
Speaker 2 (08:20):
Oh, yeah, the
negotiation tools that we use.
Yeah, the negotiation tools thatwe use.
Yeah, and there's really forjust a quick discussion.
There's really just three toolsto use.
We have the mirrors, which iswhere you really just repeat the
last part of what somebody says.
So you know, if somebody says Ithink the price is too high,
(08:44):
you'll repeat the end.
You know the price is too highand you'll raise your voice.
You'll want it to feel like aquestion because you're going to
want them to talk.
All of these tools are going tobe designed to get your
counterpart to talk, becausewhat you're wanting to do is
(09:04):
uncover really what they need,what they want.
You know, so you can meet them.
You know if they have a certainprice that they don't want to
go over, but they don't want totell you.
There are ways, you know, toget that out of them.
You just you really want themto talk.
So mirrors, you know saying thelast, repeating the last things
that they said.
Then there's labels and that'swhere you're going to want to
(09:25):
deal with the emotions thatthey're having.
So if you're getting a repairslist that is many pages long
which actually just happened toa seller of mine yesterday
almost every single item in theinspection report, which was 72
pages.
It's a historic account 72pages.
(09:48):
And then there were like threepages of repair requests.
And then the first thing theseller says is there's no way
that I'm gonna do all this.
And so you just say, you know,it sounds like you're upset, you
know that this list is going tobe this long.
You know, feels like you'refrustrated with the fact that
(10:13):
they're asking for.
You know, all these littlethings on top of major things.
And you know, right away theseller started saying well, you
know, I do understand why they'dwant this, you know, and really
just getting them to talkthrough it, you know, they
really started seeing the thingsof why the buyer would want
this.
You know that it's really awish list of everything they'd
(10:35):
like to have done.
It doesn't mean that everysingle thing on the list is
going to be done.
But you know, talking about thefeelings you know really led to
what the seller really justdidn't want to see three pages
worth of stuff and nobody reallydoes.
And then the last tool isdynamic silence, and we used
(10:56):
this earlier.
Nobody likes silence.
It's uncomfortable.
You want to try to fill it.
So in negotiations you presentsomething or you ask your
question and you have to bequiet.
That was the hardest thing forme to do when I first started
out.
I would want to fill thesilence, silence.
(11:18):
You know, back when I firststarted, I would have given the
seller this list of repairs andthey would have said, no,
there's no way, I'm doing allthat.
And then I would have justfilled the silence of well, you
know, it's not really that badbecause it's this and this and
this.
But I'm really telling them, youknow, I'm not hearing them, I'm
not listening to what they needand what they want.
(11:39):
So now I will just present it.
I will not say anything.
That I will let them say first,and that was that we're not
going to do any of this.
And then, you know, it soundslike you're, you know,
frustrated with this.
Don't say anything again, youknow.
And then they start saying well, you know, I do understand this
and I do understand this.
(12:01):
So you know, you want to talk.
You want to talk less, you wantthem to talk more.
Speaker 3 (12:07):
And guys, it really
is.
This is the tough one.
In the meeting earlier, shannonbrilliantly demonstrated this
method and we had one of ourgroup members who he's also just
a stellar business and salesguy, and he made it like 10
seconds in before he was likecan't do it, can't do it, it's
(12:30):
three, it's three seconds.
Speaker 2 (12:33):
That was the quickest
that's ever happened to I've
done this before, and sometimesit can take up to a minute, but
somebody says something.
Speaker 1 (12:41):
And that's the funny
thing is, I can't.
It was a cambridge or a harvardstudy, but they literally took
the business school findings ofunderstanding that to close the
sale after you present yourfindings or whatever it is
you're trying to negotiate, ifyou don't wait at least eight
seconds, you are so much lesslikely to actually get the sale
itself.
And so eight seconds is reallythat that time frame.
(13:02):
We've got to learn to trainourselves to just let it sit,
because it's like you said,sometimes minutes, minutes need
to go by for something to eitherprocess or sink in and get the
other person to really unpackwhat they're dealing with.
Speaker 2 (13:15):
And I've had one that
I timed it.
It was almost five minutes, ohgoodness.
And then, finally, they saidokay, we're going to go forward.
Speaker 3 (13:28):
And that's it.
Speaker 2 (13:29):
That's it, and they
just needed that time to process
, to think.
Speaker 1 (13:33):
You know, without my
saying anything, and that's
using all your tools especially,and so I'm sure they continue
to serve you well if you'rewilling to present them to the
whole of our group, because Iknow I use a number of them
myself.
But would you mind sharing atime where things kind of went
sideways for you, something thatI know we talked about, your
mentor and giving you all?
Speaker 2 (13:54):
these business books
but what's?
Speaker 1 (13:55):
something that you
had to learn kind of a hard way,
that none of those books canactually teach us.
Speaker 2 (14:00):
Yeah, I had to learn
to let things go.
When I first started in realestate, when I'd get a house
under contract, I felt like, asthe real estate agent, it was my
job to make sure that deal wentthrough.
Instead of now I realize notall deals are good and not all
(14:21):
deals should go through, and youknow, sometimes you have to
just be able to let those go.
But when I first started Ithought I looked at it as a
failure.
You know my job is now thatthis house is under contract,
you know, to see it to theclosing table and that's really
what I'm there to do.
Okay, but you know it's notreally what I'm there to do.
(14:41):
What I'm there to do is to getmy client you client the best
deal that I can and one thatthey're going to feel okay with
when they're done, so being ableto let go of the bad things.
I just had to do that over theweekend Got a contract, got a
great contract under place.
We just had to let it go.
(15:03):
We had to let it go, they tolet it go.
They already had taken a lotoff the purchase price and then
they wanted too much otherthings done big ticket items and
things like that, along with abig discount on the purchase
price, and that just wasn'tgoing to be the best for my
client right, and you know they,they are wanting a quick deal,
but they also need the rightdeal.
(15:24):
So once I learned to let thingsgo, that was the easiest.
I didn't see that in a book.
Speaker 3 (15:32):
It took me time to
realize you have to be able to
let things go and I think whenwe're talking about that's cross
applicable for any business outthere, and it's just as hard as
this the dynamic silence may beletting go of a deal that's
right in front of you becauseit's not the right one.
Oh, that's hard, that's hard,you know.
(15:55):
So what, um, what is kind ofthe flags that come up that you
use to be able to know, okay,this is one that we just we
can't do.
You know, what are thestandards that you kind of, or
is it just a gut, a gut thing?
Speaker 2 (16:13):
It can be a gut thing
, but also I sit down with
people at the beginning and wedetermine exactly kind of what
their bottom line is.
You know what they're needingto do.
If they're needing to sell ahouse, do they need to buy
another house?
You know, if so, how much arethey going to need to do that,
because you know that can changeeverything.
(16:34):
You know, are you just wantingsome money out of it, do you?
need a certain amount of moneyout.
You know what are your basicneeds and, like this deal, my
seller is moving to be withfamily buying a house on the
beach in Mexico and they need acertain amount of money to get
there and we had an appraisaldone on their house so we know
(16:57):
what it's worth and we know whatthey can expect to get out of
it.
So if if they take too much offthe purchase price and too much
off repairs and can't buy thehouse in Mexico, then that's not
going to work for them.
Speaker 3 (17:10):
Yeah, so one of the
keys is just knowing what costs
you have in order to be able toactually evaluate how much you
can.
You can sell something for.
Speaker 2 (17:21):
Yeah, yeah.
And if it's a buyer on thebuyer's side, you know you do
needs and wants.
What do you need out of a houseand need out of price, and what
do you want out of a house andwant out of price?
And you know you definitelyhave to meet the needs and then
you want to see if you can meetsome of the wants.
Speaker 1 (17:40):
Yeah, and now is that
something that a client that's
wanting to sell their house cankind of figure out beforehand,
or do you also walk them throughthat process?
Speaker 2 (17:48):
Well, they can, and I
do have some, especially like
investors who will know you know, this is exactly what I need,
you know, and you go get that.
Speaker 3 (17:58):
And then there's some
where they don't even know for
sure what they need.
Speaker 2 (18:02):
I had a client she
was a great, great client.
She had property on five acresin Jones.
Her husband had passed away andshe wanted to move closer to
her kids and this was anextremely unique property.
There was really no compsaround to value it, so we really
(18:24):
just had to sit down and say,you know, we'll have to throw it
out on the market.
See what happens.
You know, if it doesn't get anytraction then we might be above
.
And so we put it on the marketfor $200,000 and sat there for
quite a while, quite a while,and we lowered it to $160,000.
(18:49):
And then we finally got itunder contract and then the
appraisal came in at $100,000.
Because this property it was onfive acres, it was a nice
little two-story building but wehad called it a one bedroom,
(19:10):
but technically it didn't have adedicated closet up top, so it
was not considered a bedroom, soit was more considered like a
storage building or a garageinstead of like a one-bedroom
home.
But what we did find out isthat the home that she wanted
that was going to be by her sonshe would be able to buy even at
(19:34):
this new appraisal price.
Okay.
So you know we got down to andwe did this before she said no
or yes.
I was like well you know, let'sjust see where we're at.
And you know the buyers couldn'tcome up with the extra money
over appraisal.
So you know it was either thisor keep it on the market.
And it had been on the marketfor almost a year and so we were
(19:57):
able to get the house, just hadto take the appraisal.
But you know we met her needs,we got her house sold and we got
her into the house that sheneeded.
And sometimes you don't knowthat you, you think you need
more than you do yeah, so reallyjust working out your needs,
that's awesome.
Speaker 1 (20:15):
And now that's kind
of how you serve all of your
clients, and so I'm reallycurious.
You said originally got intoreal estate right For the money
needs and financial purposes,but now you can't conceive of
doing anything else.
I would never do anything else.
What's the bigger picture forShannon?
What is real estate now doingfor you that you want to keep
doing?
Speaker 2 (20:33):
Oh, I love real
estate, especially the
first-time homebuyers, thefamilies.
When they get their secondshowing and their kids come in
and say, oh, this is going to bemy room and this is going to be
, I mean, it's wonderful.
Yeah, it's wonderful and youcome in and say, oh, this is
going to be my room, this isgoing to be.
I mean, it's wonderful.
It's wonderful you don't get awhole lot of stories like that
in higher education.
Real estate is much more fun.
(20:54):
Also, I am going to investsomeday.
I keep saying that and do maybea few rental properties and
things like that.
But I don't know, I might beone of those crazy little old
80-year-old ladies who are stilldoing real estate.
Speaker 3 (21:12):
Yeah.
Speaker 2 (21:14):
There are quite a few
of those.
I might end up being one ofthose.
Speaker 3 (21:17):
Yeah, if you're going
to do something, do something
you love.
The passion has to be there.
We all have daily needs aspeople.
We have to be able to pay thebills, you know.
So sometimes you're working ajob that you don't love.
But I mean for anybody outthere, if you're in a job that
(21:41):
you don't love, don't do thatforever.
You know, find, bide your timeif you need to take care of what
you have to, but find somethinglike what shannon is doing,
where she loves going to itevery single day.
Um, you know, otherwise you'rejust gonna, you're gonna limit
your happiness, you know, um,I'm going off on a on my own
(22:05):
little diatribe here, so so youall cut me off.
Speaker 1 (22:07):
No, it's a great
diatribe, because Shannon you
talk a lot about how this kindof meets not only what you're
good at, but also something thatis a desire and a passion for
you to just keep going forward.
Now curiosity how long did itactually take you to feel like
you were good at real estate?
Because you were talking aboutthat eight-month training period
and then some of the earlyhiccups.
(22:27):
But when did you feel like, allright, shannon's got this Okay
well, I don't know.
Speaker 2 (22:31):
I'll tell you when
that happens.
I learn new stuff every day.
I learn new stuff every day andI think I'm good at it.
I think it's going to be almosta lifetime before I'll consider
myself great, but you know also, I do want to say it's never
(22:54):
too late to start something newI mean, you know, I was in my
40s when I started this.
I know people who start thingsin their 50s and so you know, do
you want to be, you know, acertain age, doing something you
don't like or doing somethingyou love?
So exactly.
Speaker 1 (23:12):
Well, you've kind of
already hit on one of the main
affirmations I give to some ofmy clients that are really
concerned about their businesshealth and their spiritual
health kind of going hand inhand.
It's a quote from florencescoville, that book I
recommended to you earlier.
But she says that if you saythis to yourself every morning
it's going to help you movetowards that place, to where
what I'm good at, what I'mpassionate about, comes a little
(23:33):
easier.
And the quote goes I havewonderful work in a wonderful
way and give wonderful servicefor wonderful pay.
Speaker 2 (23:41):
And it sounds like
you've kind of already hit that
I love that it's really good.
Speaker 3 (23:46):
Oh man, if anybody's
out there needing a narrator for
a children's book too, nolan,I'm just going to put his name
up on the availability list.
I feel like you need to read achildren's book or something I
can do that.
Speaker 1 (24:03):
I'll make it work.
I'll make it work somehow.
I'm just happy to be here withyou guys.
This is a fun podcast.
Speaker 2 (24:08):
We're doing this
every week now.
Yeah, this is fun.
Speaker 3 (24:11):
This is fun, I will
say, for that imposter syndrome.
I feel like in digital marketing, it's just built in with the
job.
There's so many people I knowthat they didn't get their
degree in marketing but somehow,over a series of events,
(24:32):
unfortunate or not, uh, theybecame a marketer, and but we,
like our whole careers, werelike am I really, though, do I
do I know what I'm talking about, and uh, to hear you say you
know, learning is a continuousprocess of what we do, that
resonates so much with me.
I know that for sure.
Even the labeling that you weretalking about earlier, like one
(24:54):
of the reasons why that has tobe such a powerful negotiation
tactic is because we don't knowhow to label our own stuff so
often, and even if it's say,even if it's not accurate, it
helps us figure out what we arefeeling and that gives more
information to you know us asnegotiators, but it also helps
(25:16):
you know the people we'retalking, to recognize oh yeah,
that is what I'm feeling, or noway you know.
And so I think that's there.
I think there's just somereally cool things that come
along with those negotiationtactics you were talking about
earlier.
Speaker 2 (25:34):
Yeah, and like I was
saying earlier, mislabeling
sometimes you know deliberatelysaying things wrong or the other
person will correct you.
You know those can be reallyeffective as well, because you
really just want to get them totalk.
Speaker 1 (25:49):
Yeah, Well, you've
gotten us talking.
Is there any way we can getsome clients sent your direction
as far as website, preferredemail phone number, something
that they can come collaboratewith you and, ideally, is there
anything in particular you'dlike to be working on?
Speaker 2 (26:06):
Let's see.
Well, I do work heavily withinvestors and enjoy it.
It's also fun when newinvestors are getting in.
I love to work with them aswell.
Really, anybody has anyquestions at all.
They can definitely reach outto me.
Give my phone number.
It's 405-436-5642 and I have noproblem just answering general
(26:32):
real estate questions.
You know you don't have to bebuying a house or selling a
house.
You know I love to just answerquestions and I love the hard
questions because I'm one ofthose people where I will seek
out something new to learn everyday.
So if you have a hard realestate question that I don't
know, I'm going to love it.
I'm going to go find the answerfor it, excellent.
Speaker 1 (26:54):
That's wonderful to
hear.
Can you give everybody yourphone number one more time and
any way else they can find youso we can put it down in the
description afterwards.
Speaker 2 (26:59):
Yeah, it's a
405-436-5642.
And I'm also Shannonannon atnine north okaycom and our
website is nine north okaycom.
Nine spelled out n-i-n-eperfect amazing.
Speaker 3 (27:17):
it's been so good
talking with you today and just
there's so much knowledge thatshannon has about real estate
just in general.
And um, check us out on youtube.
We have a, a channel that willhave the visual piece of things
and and me and Nolan, you knowwe're we're not that great to
look at, but but Shannon is isjust filled with style and and
(27:39):
all kinds of goodness.
So go check us out on YouTubeand come come check out think
biz resources in general.
At thinkbizsolutionscom, wehave all kinds of different
resources we're trying to beable to set up for businesses so
that way we can be just acommunity of professionals
trying to help each other grow.
(28:00):
That's the heart behind all ofwhat we do, and so, shannon,
thank you so much for being withus.
Speaker 2 (28:07):
Yeah, thank you for
having me.
You guys are great.
Speaker 3 (28:10):
Wonderful.
We have kind of a sign-off thatwe like to ask people to help
us with.
We're going to say stay sharp.
And the second portion is thinkbiz.
Would you say the think bizpiece for us?
Speaker 1 (28:23):
Absolutely Excellent.
Speaker 3 (28:24):
All right, nolan,
stay sharp All right.
Speaker 1 (28:27):
No one Stay sharp.
Speaker 2 (28:28):
Think Biz.