April 5, 2026 • 44 mins
In this episode of the Duncan Duo Radio Show, Andrew Duncan chats with Kat Bonnici, the team's director of growth and a luxury real estate expert. They dive into the current state of the Tampa Bay real estate market, discussing how the luxury market is driving up the average sale price despite the overall market being down. Kat shares insights on the importance of understanding the unique needs of luxury clients and how the Duncan Duo team is adapting to the changing market with innovative approaches like off-market listings and AI-powered marketing.
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Speaker 1 (00:00):
Welcome to the Duncan Duo radio show hosted by Andrew Duncan,
the official real estate agents of the Tampa Bay Lightning.
That's Tampa Bay's top selling real estate team with over
three billion dollars in sales and thousands of homes closed.
Sell your home with these guaranteed in fourteen days or
they'll buy it. Basically at the Duncan Duo dot com.
(00:20):
Here's your host, Andrew Duncan.
Speaker 2 (00:25):
Happy Sunday man. I am really excited to have a
first time guest on the show. One of my rock stars,
Kat Benichi, has been with me a couple of years
and crushing it on recruiting and growth, and so we're
going to talk a little bit about that today. But
you know, having your first time on the show being
a real estate veteran, that'd be a good opportunity for
people to learn a little bit about you, you know,
(00:47):
kind of learn a little bit about you know, how
you how you kind of got integrated into the team
and you know a little bit of your real estate background.
And so yeah, you know, I think that one of
the cool parts about us like Kat is that she
allows me to do really what I'm good at because
what she's really good at, I suck at, you know,
And it's the truth. Like you are, you are, like
(01:10):
you're you're changing. You know, I can say suck. It's allowed.
The FCC doesn't have a problem with that one. H
Now if I put a different you know, there's ones
that we might say at the office I can't put
out there. But now, the the truth is is that
you know a lot of times leaders in real estate
companies they sometimes hire people like them and then they've
(01:30):
got a whole bunch of them running around, and that
is like bull in the China shop, right, And so
you are so amazing for our culture. And I know
that's that's one of the things that you've learned through
your career, you know, encouragement and you know you've worked
in multiple real estate opportunities and you know, so yeah,
tell tell the audience a little bit about yourself and
then we'll talk a little bit more about our culture
and kind of how you help build that in that company.
Speaker 3 (01:51):
Appreciate you having me today, Thank you so much. I'll
tell you what a passion for real estate started when
I was young. Okay, I absolutely did, yes, and I
had the opportunity at a young age. I think I
bought my first property at twenty one.
Speaker 2 (02:05):
That's awesome.
Speaker 3 (02:06):
So investing in real estate has always been a passion
of mine, just the product itself, just absolutely love it.
And then couple that with a genuine love of people.
I'm talking just a genuine love of all people.
Speaker 2 (02:19):
And see, I really love people. I just do a
terrible job of explaination or showing it. You know, you
love people, but you do a really good job. And
so that's one of the things in our office where
like you know, we're constantly saying, hey, make sure to
get that person encouragement because it's not a natural strength
of mind, and it is clearly a natural strength of yours.
Speaker 3 (02:37):
Well, and I'll tell you what, we really really feel it.
At the team level too, we definitely definitely do. The
culture is definitely a warm, supportive, collaborative environment.
Speaker 2 (02:48):
We're in addition with some accountability, but the accountability is
tailored towards the agent's individual level, individual desire for success.
What is their definition of success? Robert Palmer with LPT
talks about that a lot, and I think it's true
because we have agents on our team that want to
make several hundred thousand dollars, and then we have some
that want to make fifty and then some that do
(03:09):
want to do a handful of deals a year. You know,
that's what their level of success is. And then we're
delivering opportunity and coaching to help them get to their goal.
If they say, if you have an agent that says, hey,
I want to make a one hundred grand or I
want to make two hundredrand, or I want to make
five hundred grand, then you're coaching them and pushing them
to the goal that they seetly. Whereas like some of
our agents, you know, they may not get as many
leads and may not get as many shifts because they
(03:30):
don't want to grind and do as much as the
other person does, because their definition success is completely different.
So that's one of the things I think it's unique
about our approach to accountability is it really is tailored
towards you know, if an agent produces and they want more,
and they want more, we're going to keep providing. And
then if they get to the point where they're producing
and they're like, you know what, I'm really happy here,
then it's not our job to motivate them or tell
(03:50):
them that they should want more like that's going to
burn them out, that that's not their goal in life.
They want to they want to work and go home
to their family. They don't necessarily want to work twelve
hours in the day. And then we have other people
that do absolutely.
Speaker 3 (04:02):
Absolutely, I'd say that obviously we can help with the skills.
We've got that for you. At the end of the day, though,
what's fundamental, of course is motivation and mindset and drive.
That's what we can't give you, correct the skills we've
got for you.
Speaker 2 (04:16):
Yeah, right, And it's so true, and I think that's
one of the things that we've as we've been growing
this year. But you know, our April looks great. It
looks clearly the best month of the year. I think
our April might be better than any of our months
of last year in a market that's down, like our
market is down, you know, eight to ten percent in
Tampa because of you know, high interest rates. We've got
(04:37):
the whore, we've had high cancelation. So we're we're actually
out kicking our coverage, we're outperforming the market. We're up
when other people are down. And I think it's kind
of again, it's that individual definition of success, but also
finding those right agents that fit o a model because
they're agents that And again, if you're thinking about joining
a team joined the Duo dot com. You can set
(04:58):
a calendly appointment to talk to our team, you can
apply for opportunities, you can send us messages. But but
the unique thing about the real estate business, at least
for our team, is that the way that we're structured
just different than like a typical brokerage. It's it's certainly
not like having an employment job where you have like
a ninety five, but it's a blend between that and
(05:18):
then just kind of being on your own.
Speaker 3 (05:20):
I think that's very fair.
Speaker 2 (05:21):
It's kind of in the middle. And so there is
some structure, there is some accountability, there's also kind of
some freedom. And then the more the more that you produce,
the more opportunity we want to deliver, you know, and
and then of course at the same time doing that
with dignity, you know, continuing to dapt people up and
support them and celebrate them. And and you know, even
when somebody is not doing a great job or messes
(05:43):
something up, you know, we don't we don't need to,
you know, we we we you know, we we direct
them with solutions with dignity one, and.
Speaker 3 (05:52):
I'd say we do a good job that I really
really would. I'll tell you. I use the I use
this example I had talk about supportive and collaborative. I
use the example of one of our team members. She
was a newer team member with us, phenomenal, all tremendous potential.
But she she was sitting at our call duty desk upstairs,
and I could hear I was in my office and
I could hear her kind of fumbling to a certain
(06:13):
degree on the phone. And it was interesting because I
was up and headed to her to help out, and
before I could reach the desk, there were two of.
Speaker 2 (06:21):
Other agents help on her. There.
Speaker 3 (06:22):
Yeah, collaborative environment, and I would one hundred percent that's
not just hearsay.
Speaker 2 (06:29):
That is and truthfully, it's not where we've always been.
You know, like one of one of the things that
you know, you were kind of charged with coming too
the company when you came in was that we did
have that stigma where it was a little bit more
boiler room than you know, a lot more boiler room
than it is now, and there was a lot of
condescending and you know, and that's never been my personality,
but we had leaders that that was their personality, and
(06:51):
it was very snarky and condescending. And you know, it's
just that that type of energy isn't going to help
people get better and it's like to keep them there
and and so we fixed it. And so so if
you are looking for that, you know again, if you're
if you're a real estate agent, or if you're thinking
about getting in, because this is actually, in my opinion,
one of the best times to get in is a
(07:12):
real estate more people people are like, oh, but the
market's so bad. But if you can get in and
learn the fundamentals, like the people that get in when
the market's really hot, they end up they're out a
year or two when the market turns because they learned
everything in a good market. They don't know how to grind,
they don't have to do the work. They don't know
how to do the work. They it's all easy money's
raining from sealing. Anyone can sell houses when that's happening.
(07:33):
But if an agent comes in now and they really
master those fundamentals, they can truly grow a business and
and and with us in addition to you know, the
working with buyers, working with sellers, doing flips, investing in flips. Like,
there's so many different tiers that we have for people
to kind of graduate and get more opportunity, and and
and again, if you start when it's challenging, and you
(07:54):
get good when it's challenging, you're going to explode when
the market when the market doubles. Absolutely.
Speaker 3 (08:00):
And I would say that we're not even looking for
the most experienced agents. I'd say that we're looking for
someone who coach, is coachable, Yeah, coach consistent, and wants
to grow.
Speaker 2 (08:10):
Yeah.
Speaker 3 (08:10):
I mean that's really ultimately what we're looking for.
Speaker 2 (08:12):
Yeah, And a lot of times, and again we do
have some really experienced agent again, agents with us more
than ten years. But sometimes you have preconceived notions, or
you have bad habits, or you do think you've gotten
used to doing things a certain way and we might
do them a little bit differently. And there's some of
that kind of conflict that can sometimes happen with a
really experienced agent. And again, the ones that we do
get there really experienced have experienced enough of the bad
(08:35):
of not being on a team, not getting the leads,
not getting the transaction coordination, not having a brand behind you,
not having an office building, like all of those things,
they don't have them. So then they're finally like, Okay,
if I add this to what I'm doing, then then
I'm going to really do well. And so I think,
you know, we've talked about how the market is about half.
We're seeing about half the transactions compared to where we're
at me. So again, if you're a real estate agent
(08:56):
and you come in and you get really good, and
you're doing like eight deals, ten deals, twelve deals a year,
which is probably average, maybe a little above average, truthfully,
and then the market doubles. You know, again, if you
keep improving your skills and you keep being coachable, and
you keep learning how to implement AI and all these tools,
your production is going to dramatically rise with the market.
But if you got in at the time when it's
(09:19):
super hot, you sometimes have some bad habits because it
was easier. So getting in right now and my opinion
is perfect time, because I do g I genuinely believe.
Obviously the Iran situation kicking interest rates up and oil
prices push some of this back, but I believe we're
on the verge of a boom in Tampa Bay real estate.
It's not next month's probably not the next three months,
(09:42):
maybe the next six truthfully, probably more like next year.
But if you do all the things now and build up,
then your.
Speaker 3 (09:50):
Position it is just going to say the same thing.
And I think a lot of people that are seeing
success right now were individuals that pressed in when time's
got difficult.
Speaker 2 (09:58):
Correct as they said, they said, and again that's the
same thing. We've got agents that are crushing it. We've
got a we've got an agent with more than six
million in pendings. We've got multiple agents that haven't been
with this long at all to have more than a
million in pending, the pull homes under contract like their
first week. And again they were willing to do the
work because when the market gets tough, a lot of
agents kind of give up and quit. So we just
(10:19):
keep encouraging, keep driving opportunity, keep keep you know, keep
pushing that their individual definition of success. And then what
happens when the market moons, when we get property tax relief,
when we get interest cut relief, when we avoid another
hurricane season, you know, all these things keep piling up,
and then of course the economy kind of starts chugging again,
(10:40):
and you know, all this fear that's out there kind
of subsides. You know, then then the market could has
has the possibility to explode because there's so many consumers
right now that are sitting in homes that they don't
want to sell because they got low interest rates and
a rate for them to buy is too high. And
then there's a lot of consumers that can't buy because
the rate's too high. Like you know, and we're going
to talk about the luxury market in our next segment,
(11:03):
because that it kind of operates. It's like it's kind
of like, you know, I pay attention a lot to
the stock market of financial markets, and when somebody says, hey,
the stock market's up today, that might mean semiconductors did
really well and oil and gas did really well, but
you know, you might have had retail companies do terrible today.
You know, like real estate's the same way. You have
these little pockets and segments and the media. You know,
(11:24):
kind of our average price home hasn't really even though
the average price in Tampa Bay is whereas in the
average priced home hasn't. And I'll explain kind of what
we talked about this week. But the point is is
there's so much of that activity that's kind of pent
up and held back because high rates. And then all
the people that don't want to sell their home. They
want to move up. They want to go from a
five hundred to an eight hundred, right, but they don't
(11:44):
want to go from a three and a half to
a seven. Well they go from a three and a
half to a five ish, Yeah, probably, So that's that's
there's so much demand, there's so much stuff to tell
back that once those things start happening, I think we
get we really do have a chance. We're seeing population
growth already, but we're it in the in the upper end.
You know, we're seeing it in a lot of millionaires
and billionaires, and you know, we're not seeing it as
(12:06):
much in the mid level price points. And I think
that once property tax relief happens, we get more insurance relief,
which seems like it's happening too, and then some interest
rate relief, and I think there's a really good chance
that we see that boom. And if you get in
now your position.
Speaker 3 (12:19):
For absolutely and I'd say that the right environment removes
years of trial and error. I just can't say enough.
How positioning yourself and within the right environment is critical.
And we are one that wants to see our team
members succeed.
Speaker 2 (12:36):
And I'm in genuine and different than like we are
a large team, but in reality we're not that large.
Speaker 3 (12:42):
That's right.
Speaker 2 (12:43):
There's a lot of teams in Tampa Bay that have
now grown to the point where there are hundred plus
agents that to me, I would rather keep it, you know,
like thirty forty agents, but go deeper with our agents
and have more productive agents instead of having a mill,
you know. And I think that's kind of what we
what we've always kind of had. We've always had a
higher productivity per agent, and that's more of a focus
for us than just going out and recruiting a bunch of.
Speaker 3 (13:03):
Mind one hundred percent. And I think I do hear
that from candidates as well.
Speaker 2 (13:07):
We hear it when they go and interview with other teams.
I didn't feel like, you know, like I didn't even
get to talk to the team leader, and here's Andrew
leading a meeting and talking to me.
Speaker 3 (13:14):
It's true. And one of the things I hear a
lot from our candidates too, is just generally being unsupported,
feeling stuck because they're unsupported.
Speaker 2 (13:23):
Because because that team is so focused on just get
as many bodies as they can and then hope some
of them figured it out. Whereas our approach is we're
gonna turn away a lot of people, and we do
like we're gonna turn away a lot of people because
we're like, we're like, we're not the right model for you.
But the ones that we do, we're gonna pour into.
We're gonna pour into deep or we're gonna help them
build wealth, We're gonna help them flip houses. We're gonna
help them want to work with buyers and wanted to
work with sellers. So so again, if you're an agent
(13:45):
struggling or thinking about getting into business, or know someone's
thinking about getting into the business, and this opportunity sounds
great for you, just hit us up at Joined the
Duo dot com or any of our social channels to
slide into those dms at the Dunkin Duo and we'll
be back. We're gonna talk about the luxury market after
a quick break here on the dunk and Do show.
Speaker 1 (14:00):
Back to the Duncan Duo Radio show, the official real
estate agents of the Tampa Bay Lightning top team in
Tampa Bay over at three billion sold in counting. Now
your host Andrew Duncan, we're going to.
Speaker 2 (14:14):
Talk about the luxury real estate market. Kat Banici with
the Duncan Duo team is with me. Kat is our
director of Growth, but also works with some of our
luxury clients. You've you've worked some of our million dollar
clients recently, and the luxury market. It's interesting because you
hear all this, you know, population growth and all these
things are happening in Florida, and in reality, we're not
(14:35):
seeing population growth. We're actually about I mean a little
bit of population growth because we're losing some of the
lower priced, lower priced home buyers because of affordability, taxes,
insurance and all that. But we're gaining a lot in
the upper end, the higher price point, you know. And
so so the reality is like when someone looks at
our market, and you know, I've had consumers say this recently, like, well, hey, Andrew,
(14:58):
last year, the average price was for eight now it's
five twenty seven. My home should be worth more. My
five hundred thousand dollar house should be worth more. And
the reality is it's a statistical flaw that you're looking
at that's misleading you into thinking that because you're looking
at an average. And so what's happening right now is
our average priced homes in Tampa Bay are not appreciating.
In fact, quite the opposite, they're depreciating. Our homes that
(15:21):
sold a year ago for five hundred are probably full
eighty four seventy five. The reason why you're seeing that
average sell price go up is because we are getting
that influx of entrepreneurs, millionaires and billionaires moving to Florida
buying you know, one, two, three, five, ten, fifteen, twenty
million dollar properties, and that is massively moving our average up.
Somebody that lives in California that doesn't want to pay
(15:43):
their wealth tax, or Washington just did one too. New
York has a high state income tax. And so these
these states that are you know, very heavily burdened on
wealthy people and entrepreneurs are tax those people are fleeing
those states, are bringing their companies here, and and so
the good news is that will end up the population
growth will end up trickling into some of the other
(16:04):
price points. But the founder moves first, right, Like, he
moves first, and then he's like, let me find this
you know, let me buy my twenty million dollar house
or ten million dollar house, and then and then it's
let me find a building for all my fifty people
and those people, you know. So there's a trickle effect
to where those those businesses relocating because of those entrepreneurs
leaving those states are also going to move people here.
And my hope is all that's happening at the same
(16:26):
time that we get interest rate relief and property technis
you know, but the luxury market is is a different animal,
and it's it does skew our our stats a little bit,
and it's confusing for people because they don't understand, like, well,
the reason that average sale price went from four ay
to five twenty seven because we had a bunch of
sales about two million. So when you average that out,
(16:47):
that two million dollar house is like four average houses.
It's just pulling that. It's just pulling the numbers up.
So so speaking of the luxury market, though, we've got
some we've got some really good luxury agents. Jackie Turik
with us absolutely killing it right now. We've got Deanna's
new to our team, she Purr and Josh is sold
an eight hundred thousand dollars house Grant put a couple
of deals above a million. On commercial. Sam Mende just
(17:10):
put a couple, you know, he put million dollar deals.
We had a brand new agent put an eight hundred
thousand dollars deal under contract that not even been with.
Speaker 3 (17:17):
Us very long, and she also has like a five
hundred ye.
Speaker 2 (17:21):
So, but the luxury market is different because the consumer
expectation is different. And you know, if you're out there
buying or selling luxury real estate, and let's just say,
you look up our team and you're like, oh, you
guys sell two hundred thousand dollars houses. We sell everything.
Like I've got agents that only you know, if it's
not above a million, it's not for them, you know,
like they're literally like they're not going out to Lake
(17:41):
Wales to sell real estate, you know, they're they're just not.
They're they're selling million dollar you know, condos and two
million dollars and three And then we have agents that
would love to sell fifty fifty low lower priced properties
in a year compared to the deal with luxury crowd.
So again, to each their own, but our agents are
geared towards being a specialist in those in those segments.
(18:03):
So my luxury agents are doing more luxury. But rest assured.
If you're a buyer or seller wanting to work with
a luxury agent and you sign up, you're gonna get
a luxury agent with us. If you reach out and
you say, hey, I want to buy a two million
dollar house, you're gonna get a luxury You're gonna get
an agent that's experienced in that price point. Similarly, if
you reach out and you're you know, you own a
bunch of rental properties that are two hundred thousand, three
(18:24):
hundred thousand each, you're gonna get one of my agents
that does that owns a bunch of rental properties. Like
the ideas, our goal is to be able to match
the consumer.
Speaker 3 (18:34):
We do.
Speaker 2 (18:34):
We have quite a diverse we do. We do, and
we sell really across it, but the luxury stuff. Sometimes
I'll get people say, well, you know, like I see
a lot of three and four hundred thousand dollars house,
Like okay, well go look at the person that only
sells above a million. How many they sell last year fifteen?
Well we sold twenty five, you know, like, we sell
more of it. It's just the numbers don't look the
same to you. Because it's a different proportion. All of
(18:56):
their stuff is above a million. We do it all,
but we're doing more above a million than that person.
Speaker 3 (19:00):
Well, and I think you always share with you always
say over and over again, family served. Yeah, I mean
really really the cornerstone of what we want to achieve.
Speaker 2 (19:09):
And and and I think that naturally, if our focus
is on serving that family, the agent for us that's
more experienced with that luxury client that sells in that space,
that negotiates in that space, that's used to dealing with attorneys,
that's used to dealing with you know, you know, complicated loans,
you know those types of things. That's going to be
a different agent for us. That's going to be kind
(19:30):
of their specialty. So so we really have built a
business that if you're looking to buy or sell, we
have an agent that's the right agent for you for
that specific niche. And no matter the radius, like we
go all the way down to Nis, Florida, like we
go up to a Hollma Sassa, like we cover an
enormously broad radius. And those are agents that live all
over like I have agents that we have agents that
live our Plus I would say a lot of our yes,
(19:53):
so we were very spread out. But it's because if
you're listening to me right now, you might be driving
your car, maybe you're listening home, and you know who
knows where you are. Like we the way that we
advertise isn't isn't by a farm or a neighborhood. It's
really kind of a tart. It's more of a broadcast approach,
so we're getting all of those areas and neighborhoods. So
so that's a focus for us, is making sure that
(20:14):
we're delivering that luxury experience to the luxury client and
then that investor experience to the investor client, or that
commercial experience to the commercial client, so that the agent
that they're getting is somebody that's trained in that specific
niche and not fumbling it because they don't know what
they're doing, you know. And so you know that it
is different even even from a standpoint of the marketing
that we would do for a hire end home. You know,
(20:35):
we're talking drones and videos and showcase and print advertising
and you know, we've done we've even talked to LPT
about doing billboards for some of our luxury stuff. So
it's just a different it's a it's a different marketing
approach too. We're going to take that house and we're
going to deliver the marketing that makes the most sense,
you know. We It's funny we had a property this week. Grant,
(20:56):
our commercial agent, called and he said, Hey, I have
a client wants to advertise this property in very specific
zip codes because they do a lot in this area
and this is every time they've sold something, this is
where the customer comes from. So he's like, can we
do that? I was like, we absolutely can. So we
put a pay per click campaign together and we advertise
it in these specific zip codes and guess what happens.
(21:17):
The property sells and it's someone in one of those
zip codes, you know. And so the reality is is
we're going to look at the particular property and figure
out the right targeted.
Speaker 3 (21:26):
Ads, targeted marketing.
Speaker 2 (21:29):
And so again, if you're thinking about buying or selling,
if you're thinking about luxury, we've got an agent for you.
And the other thing I'll say about luxury too is
off market. Our best luxury agents are finding a lot
of stuff off market, Like Jackie had an almost two
million dollar deal off market, Like, we're finding stuff for clients.
I have a personal client that said, Hey, I want
(21:49):
to spend up to fifteen million and I want open waterfront.
Here's what I want, and I haven't found it yet.
I'm going to this restaurant on Friday, but I haven't
found his house yet. But I found them a couple
that were off market, and one of them is close
but not quite. So We're going to keep looking. But
the point is is like, even if it's not out there,
if you're not seeing it, well, we have two hundred
(22:10):
something thousand people in our database. We'll find something that
makes sense for you.
Speaker 3 (22:14):
Absolutely, I'd say the off market sector is definitely something
that we hear a lot of the clients, you know,
intrigued about and really interested in.
Speaker 2 (22:21):
Yeah, for sure. So definitely private, that private because especially
there's a lot of news impressed about the lawsuits and
whether or not you can pre pre marketed or whether
you can do an exclusive listing. And most of the
shackles for real estate agents have been taken off now,
which which I actually agree with. I'm not a proponent,
you know. In fact, I'm going to save this comment
because I think it is a good topic for our
next segment about the MLS, cause I want to talk
(22:43):
about that a little bit, because the way technology and
AI are going right now, a lot of changes come
into real estate. So we'll back after a quick breakound
the dunk and do a show, and we're back with.
Speaker 1 (22:53):
The Duncan Duo radio show, Tampa Bay's number one real
estate team, over three billion in sales, thousands of Pavy
clients and official partners of the Lightning No your host,
Andrew Duncan, it's I got my SpaceX hat on.
Speaker 2 (23:09):
I'm a SpaceX fan. I love the all the cool
technologies that's coming out in the world. We had a
rocket launching off the coast of Tampa Bay. I had
about thirty people out of my property that just kind
of gathered as it got closer and closer. And I
usually run people off of it because it's like a
wide open waterfront property. But that day I was like,
you know what, go America. I'm not just get out,
go go enjoy it, you know. But nonetheless, technology is
(23:34):
massively changing so many things right now, like AI, even
like even this show right now. Usually, like when I
record the show, I forget to like write out the
segments and give like our marketing people like a heads
up of where certain videos are like because I just
forget now we have a idea, Like James literally sends
me the summary and it's like Andrew talks about this
this week, and I like you just you know, James
(23:56):
has made it easier for me. Thank you, thank you,
James GT. James, James James Chad Chat James GT gpt So.
But the truth is technology is massively changing so much,
and I think their real estate industry is behind the
curve with a lot of it, and it's and it's
getting forced to adapt. The dysfunction or not dysfunction. The
(24:16):
disruption to real estate is coming. We hired a company
this week that edits our photos now and it's all
done via AI. Like we used to have to spend
hours on light room and photoshop and doing all these
things and now literally a click of a button and
it's and they're editing it and and so the technology
is coming. And the the MLS, for example, very recently,
(24:39):
there's been a massive amount of lawsuits between and I
won't name the real estate brokerages because I don't want
to give them any love, but there's some massive amount
of lawsuits between real estate brokerages, real estate platforms and
MLS is about the rules around whether homes can be
kind of marketed without going on to the MLS. And
so far the brokers and the portals are winning that battle.
(25:01):
And now we've got like this runway where it looks
like we're going to be able to do coming soons
or exclusive listings for periods of time. And we've always
kind of done that, but but it's but now it
can be a little bit more formal or a little
bit longer, even like we've always asked for in our
listing Agreement's a period of time because we want to
make sure to put our best foot forward with the
photos instead of rushing and slopping it out there. We're
(25:22):
we're marketing something, we want to market it right. But
so there's been a struggle for so long about how
you know, some consumers, uh don't want to put her
on the MLS and THESI elier don't want to put
it on it at all. In the real estate industry
for a long time said well, that's not in the
seller's best interest and it should always be in the MLS.
And you know, I always believe that was a really
(25:43):
arrogant approach to believe that you know what's right for
every consumer. I mean, industries that think that they can
tell the consumer what's right fail, you know, they get
disrupted and then the consumer gets what they want. And
so now we're starting to win this battle where there's
a certain percentage of consumers that want to go to
a path and and so you can argue whether it's
(26:04):
right or not. But if you're selling a ten or
fifteen million dollar house, maybe you don't want to sign
in your yard, and maybe you want to have a
little bit of a process and maybe you know like
and and or maybe you're selling a house and it
needs a little bit of work and you want to
market it a little bit in case you find somebody
before you go official on the MLS or put the
work into it to buy it as is. You know.
So there's all kinds of reasons why it would make sense,
(26:24):
but the industry is always kind of frowned upon that
to the point where we would get fines, we would
get warnings, we'd have this, we'd have that, and it's
it's nice because again, not not every consumer wants the
same thing, and the real estate community is like, oh, well,
we need to get the seller the most amount of money,
you know, That's why it needs to go in MLS.
That's wrong because a lot of the sellers don't care
(26:47):
about the most amount of money. They care about the convenience.
Like like imagine, like you know, I know your your
son worked at Chick fil A. Okay, so Kat's son
is a is a stud at Chick fil A. He's
got his spoored Mustang out there. Okay, he's a great kid.
I know the owners at the Chick fil A in
South Tampa, and I'm in there a lot. And you know,
(27:08):
of course, do I like the food. Yeah, I like
the food at Chick fil A. Is it is it
Eddy V's or Ocean Prime or Flemings. No, it's not.
But it's the convenience I can get it and set.
I'm not in that. I'm not in there for more
than six minutes before I have my food. And so
so the consumer started to change a few years ago
with instant offers and all these companies start saying, oh,
(27:30):
we'll buy your house wire house, and now we do
that too, like we'll buy your house too, you know,
we'll buy it cash and we'll we'll beat the hedge
fund or we'll give you longer to close, or we'll
do something creative. We can do things that maybe these
large institutions can't. But you know, the reality is is
real estate is evolving and changing so much, and a
lot of the tech has kind of been held back,
a lot of it has kind of tried to stay
(27:52):
antiquated in old school. And we're going to keep doing
it this way because this is going to get the
customer the best price.
Speaker 3 (27:57):
Yeah, now, no, and you definitely are at the helm
with that.
Speaker 2 (28:02):
Yeah, it's the it's what is the consumer want. The
consumer may just want to sell their five hundred thousand
our house for four forty and be out of it.
Speaker 3 (28:10):
Well, we talk about Amazon style type kind of surress.
Speaker 2 (28:12):
Right right, Like, I know I can get something cheaper
than I get it on Amazon sometimes, but I know
if I push the button and click, it's going to show.
It's going to show. Now, it can show up within hours,
you know, Like it's crazy, but it's it's convenience. People
don't realize that, and a lot of those consumers don't
want to eat up the days on market. They want
to tease it, they want to put it out there.
They don't put their feelers out there. They don't want
(28:33):
every Tom Dick and Harry walking through their house. And
so I love that our industry is starting to adapt
like so many other industries and make it more consumer
centric instead of protecting the realtor you know, like it's
a reality, like you know, and maybe I get a
nasty gram from the MLS this week, but but the
reality is the MLS and the boards and nar are
(28:53):
about the number of members. That's how their revenue is driven.
It is the number of members that they have. So
they have some of the these some of these policies
that have been draconian, they are now getting struck down and
they're losing cord and the commission stuff. Now that they're
getting some losing some of these battles. The consumer, uh
you know, is is kind of controlling that. It's it's
(29:15):
consumer choice. It's it's what does the customer want, and
and not every single customer is about getting the most priced.
Some of them want convenience, and if you're trying to
argue them that no, it needs to go on MLS
because that'll get you the best price. I don't want
the best price. I want to be out of sing
in a week, you know, or or I don't want
to take this type of loan product or you know,
or I don't want to eat up the days on market,
(29:36):
So let me put it out here for a few
months and get some feedback from customers. Or let's do
a few brokeer opens on my ten million dollar house,
like so that we're able to effectively, you know, apply
what other industries have applied and say, hey, we're going
to kind of cater this to really.
Speaker 3 (29:50):
Just get it keeps in line with our catered experience.
I mean, it really really does something I'm so proud
of across.
Speaker 2 (29:57):
The and I think the uh. And again it's it
is across all price ranges. There are plenty of people
that have a two hundred thousand dollars house that don't
want to list it. They had bad experience, they had
a bad agent, they didn't have a dunk duo agent.
That's right, that a bad agent that had something fall apart,
they got lied to, their deal fell apart. Whatever it is,
so forcing that whole MLS thing wasn't effective. And again,
(30:21):
all of those entities there are for profit enterprises, and
how they generate revenue. They don't make more money off me.
If I sell more houses, I pay the same dues
as the guys that has to sell anything. So they
had these policies to kind of protect agent count, and
now that that's getting broken down a little bit, I
actually think the next few years we're going to see
this massive transformation. I mean, how much do I talk
(30:42):
about AI.
Speaker 3 (30:43):
In that Oh my gosh. Maybe, But no, we all
anticipate it. It's part of team meetings. It absolutely is.
But and I'd say that each one of us has
learned so much from you about it, and I'd say
we've integrated it into our every day life. I think
as a team we've done a really good job with that.
Speaker 2 (31:02):
And I think so so kind of thinking about like this,
this evolved involvement of AI. There's a lot of people
that are worried that it's going to like change jobs
and do all this and and and what I think
it does is for the right people at scales and
leverages them. And so do I think there is going
to be a reduction in the number of realistic agents
in the next years, I absolutely do. I do. But
(31:23):
I also think it's going to it's it's going to
be the people that are going to adapt and evolve
and use the technology in the right way and learn it.
And it's also going to be the people that are
going to say, I want to deliver the customer the
experience that the customer wants, right, Uh, not necessarily, you know,
have to throw everything into the MLS because that that
(31:44):
process of forcing things into the MLS was keeping agent
count higher because that would give more at bats to
that agent.
Speaker 3 (31:51):
That's right, you know.
Speaker 2 (31:52):
So like, so what will end up happening is I
think both AI and some of those changes around coming soon.
I think the good agents are going to get better.
The better agents are going to get the best. The
best are going to get the bestest. But I think
you're going to see this transition where there's a professionalism increase.
I think AI will actually make our the the a
(32:13):
good real estate agent even better. And and the changes
with AI and MLS, I think will cause a lot
of those entry level agents that don't work, or that
don't adapt, or that can't sell anything, it'll get them
out like and and and then the consumer, in my opinion,
consumer sentiment improves because now that customer is getting a
better experience. I mean, look, everybody's had I mean, I'm
(32:35):
sure you I personally have had bad experiences buying and
selling in other markets with real esta agents and industry. Yeah,
like so we we've all had the bad experience of
the real estate agent. And so I think this, uh,
this short term thing that's kind of started now with
AI and tech is going to start moving some of
(32:55):
those people out and it's going to help the better
people become the best. It's going to help everybody level up.
And I keep telling the team, I'm like, look, I
don't believe anyone in here is going to be replaced
by AI. Who you're going to be replaced by as
a guy that's going to use AI when you're not
using it, you know. And so the technologies that are advancing,
you know, again, I very I very much believe that
(33:16):
in the next two years, we're going to see things
like drones flying through houses, auto complete automation, no lock box.
You show up, it registers your phone, the door opens
because it knows you have the appointment, automatically, it pops
on a song because you're you've registered with Spotify what
song you want to play. There's so much smart home
(33:37):
technology that's coming, and so much AI capability that I
think all of this stuff keeps getting you know, more
consumer focused, and then the agents that adapt and evolve
get better. And I think we see that in our company,
some of our some of our best agents are now
evolving and getting better because.
Speaker 3 (33:54):
The tech absolutely yeah, and even digging in I mean
fundamentally with more market stats, things of that nature. I mean,
it just it moves the needle on all of that
for our agents, It really does. And we appreciate you
kind of being enough the helm of pushing us to
do that.
Speaker 2 (34:08):
Yeah, And I think that every week, Yeah I do.
Did you hear that? Every week? I do? But but
the tough part is is that that I know if
I don't do it, then I'm gonna regret that I
didn't push the needle, push the envelope a little bit
more with some of the some of the team members,
because again, I want everybody in our company to succeed.
I want them to hit the level success that they
(34:30):
want to hit. And I think that that AI leverages
and scales them. It's not going to replace your job,
but it's going to help you get information, it's going
to help you get questions answered, it's going to help
you know edit photos, edit videos. It's going to help
you with role play, like we are not far away.
Ladies and gentlemen from real estate companies having most of
(34:52):
their calls done by ai AI can't show the house though,
okay they we were not there yet. Maybe someday Elon
gets these robots going, but right now, we're still showing houses,
we're still negotiating, we're still listing, instituting a marketing plan.
But the ai IS is eventually going to take more
of these things that allow the agent to serve more customers.
(35:14):
The best agents will double their production with the right tools.
Speaker 3 (35:18):
And I think one of the things you've done really
well is encouraging us just to embrace it, you know,
not the fear that it's going to completely replace us.
Because I hear that.
Speaker 2 (35:27):
I hear everybody like, oh, this is the way it
used to be. We used to have two hundred thousand
dollars prices. To you, guys like these prices better. Like
my first year, my first year, nine point my first year,
about one hundred sales. We did one hundred and one
sales for nine point one million. Do that average cell price?
Everybody I was selling wheel estate, I was selling trailers
and short sales. So so again, like you know, the
(35:50):
prices used to be really low too, So now you
know the trade off is, you know, you got to
be more savvy with the tech and got to learn it.
And so I can promise you that if you do
hire us to sell your home or work with you
as a buyer, we're using AI to market your home.
We're using the tools to allow it to get in
front of more people. We're adapting and evolving with all
the new technologies to give you the right exposure. And
(36:11):
for buyers, same thing, we're using AI to help find inventory.
We have AI chatbots that we're integrating into our CRMs
where we're gonna be able to tell it say, hey,
we have a customer that's looking for this, you know,
like where we're just telling the computer we have a
customers looking for this, find this in our database, and
then it finds it. Then we're targeting those people to
try and find a home for you. So AI is
(36:31):
definitely changing the game. We're gonna be back when we
wrap up our last segment after a quick break around
the Duncan Duo Show.
Speaker 1 (36:36):
Back to the Duncan Duo Radio Show hosted by Andrew Duncan,
official real estate agents of the Tampa Bay Lightning and
the team that guarantees your home sales with the Espeacit
the Duncan Duo dot Com. Right now here's Andrew Duncan.
Speaker 2 (36:52):
So speaking of those Lightning. We're on the verge of
the playoffs, getting towards getting towards the playoffs. We've had
had a lot of team members out of game. We
sure we brought some well, we also brought some cooperating
agents that that do deals with us out to out
to games this week, so that that's always a great
part of our team too, is just kind of shared
in that cool experience with the with the with the
(37:14):
Tampa Bay Lightning. And if you're an agent that wants
that opportunity, you want to go to some games, you're
a big hockey fan, you maybe want to work with
a player here and there. We do get them, Uh,
we do get them. Occasionally, we get some of the
staff and and some of the some of the coaches
we've worked with. You can go to join the Duo
dot com again that's joined the Duo dot Com. We've
(37:34):
notoriously required agents at our company to work with buyers first,
and we've really kind of changed that a lot. Yeah,
So if you're an agent that avoided us because you said, man,
I don't really want to work with buyers for that long,
we are graduating. We're we're graduating people really quickly to
working with Cellar.
Speaker 3 (37:49):
I think it's important that we note that, I really
really do. I think right now we have greater opportunity
to scale people than we have before and getting them
closer to you.
Speaker 2 (37:59):
And yeah, yeah, And obviously I do the daily coaching
with the listing agent. I wouldn't say daily, three days
a week. Josh covers from me one and then we
have the team meeting. So but multiple days a week
I'm doing the huddle, and then we do the listing
training classes and the listing meetings and and so my
goal with the listing agents is obviously diving a little
bit deeper. Those are agents that are really experienced. They're
doing a lot of production. I'm helping them improve their numbers.
(38:20):
I'm helping them learn how to flip real estate. I'm
helping them learn how to build wealth. So so if
you yeah, yeah, yeah, Now, now when we do flips,
are our team members get to invest in those flips too,
which is which is a cool which is a cool thing?
The the The other thing though, that I would say
is again, if you didn't join us in the past
because you didn't want to be stuck working with buyers,
(38:41):
like take a look again, I hit us up at
Jointhduo dot com the cattle reach out to you. We'd
love the opportunity to talk to you about some of
the things that we've done to kind of change that perception.
And also because we're getting more celarties and we can
keep up with we need more, we need more people
listing agents. We do so, so I also wanted to
(39:02):
I forget the last thing I wanted to talk about.
I know that we were going to talk about the
uh we were going to talk you know agents. I'm
drawing a blank on the last thing that I wanted
to talk about, So I'll just pick something out of
the sky. The mortgage market right now, right the mortgage
markets super challenging. Interest rates are high. We're having to
(39:25):
coach a lot of agents on how to coach buy
downs and how to how to help the understand help
the client understand the you know, the the challenges with
you know, having a higher interest rate right now, and
they may come down. And but the reality I think
a lot of people get confused about is that you know,
you're not when you hear someone say, oh, I got
a thirty year mortgage, Like, no, you didn't, because there's
(39:46):
very few people that are staying in that thing for
thirty years years and are paying it off for thirty years.
You're going to be in it for a year or two,
maybe three, and then you're going to refinance or you're
gonna sell and you're gonna move. So but the interest
rates are a little bit challenging. But there's creative things
we can do. You know, the builders have shown this,
the pas they all do the buydowns, and we can
just we can mimic and do the same thing. We
offer free one ozho buydowns for for our listings to
(40:08):
help our listings get exposure. But but but nonetheless, the
mortgage market, you know, we've seen interest rates tick up,
and you know, we hope that they soften back down.
We hope that we get back to that boom. But
but the mortgage market has been a little bit tricky
right now. You know what else has been tricky as cancelations.
Speaker 3 (40:25):
We've talked about that. Haven't we had to do?
Speaker 1 (40:27):
Yeah? We have.
Speaker 2 (40:28):
Yeah, And I know it's it's tough, like you know,
like I'm sure you're you know, you're you're trying to
coach your agents through it and talking to them. But
what are what are things you think of that like
where a consumer is making a mistake.
Speaker 3 (40:40):
Like, yeah, I think we talk about it all the time,
don't we appraisal during inspection period and complaining those two together?
Speaker 2 (40:47):
Yeah, really, really, I think it's a big deal not.
Speaker 3 (40:49):
Having to revisit negotiations like twice. Really really do absolutely.
I also think that with a lot of individuals that
are looking to make their first purchase, they're intimidated about
that report without a shadow of a doubt.
Speaker 2 (41:04):
Yeah, and then they cancel for something.
Speaker 3 (41:05):
That's small, without a shadow.
Speaker 2 (41:07):
That's the one positive thing about AI too is you
can start throwing those reports in there and consumers can
start to figure out like, oh, let's read so bad
and you throw it into rock or Claude or chat
GBT and you find out, oh, it's only six hundred dollars. Well,
I was about to blow up a deal for six
hundred bucks, right right.
Speaker 3 (41:22):
And you talk about prepping the people for it, and
I think that's critical, right, hair is on fire when
they get those inspection reports, are they? Sure are? But
I think we've been at the team, we've been doing
a better coach.
Speaker 2 (41:33):
And then just talking to other agents, trying to do
what you can to help the client under.
Speaker 3 (41:37):
Relationships with listing agents on the buy side.
Speaker 2 (41:40):
I think more than anything is just getting to see
it from a financial perspective, because let's just say there's
a few thousand dollars in repairs. The next house is
probably gonna have a few thousand and two, you know,
and and you cancel, and then you go out and
you spend another inspection, you spend another It is only
guess what that house has the same thing. But consumers,
because of social media, everyone wants to be able to
hit the filter button and they went to a plus
(42:02):
and what the lots of likes and views and to them,
that's a clean inspection report. And that doesn't exist, Like,
it just doesn't.
Speaker 3 (42:07):
It just doesn't.
Speaker 2 (42:08):
No, there's no such New.
Speaker 3 (42:09):
Construction can take it.
Speaker 2 (42:11):
Yeah. No, construction can sometimes be the worst because then
they completely forget stuff, Like we've had homes closed new
construction where like the people go up in the attic,
they're like they forgot the insulation. You know, it's like,
oh my goodness. And or there's you know, here's this outlet,
but it's not plugged in. I can't get any power
to the outlet. So there's stuff that new construction misses,
and and uh, you know, at the same time, you know,
(42:33):
the the resale side of it. What I always tell
customers that are weary about the inspection or that they
get a little spooked, is you almost have to treat
the inspection as long as it's not like a four
point issue. So you've got a good roof, you've got
a good ac you've got the main core things, and
then you get a bunch of little stuff that's just
a blueprint of your like you know, your your to
do list, your honey to do list for the next year,
(42:55):
that you've got to spend weekends tightening up a couple
of little things. And it's just part of the home ownership.
I mean, I built my house in nineteen and already
stuff already, stuff break, already stuff failing, already stuff breaking, already,
stuff not working. You know, it's just that's the nature
of being a whole owners. You get to write it,
you get some write offs, and then you get the upside,
you know, and and so that's what you're paying for.
And but a lot a lot of consumers get spooped
(43:17):
at that inspection and then they're like, oh, I don't
want to buy this house. It's got so much wrong.
It's like, no, it really doesn't. This is like normal.
This is like it's actually really good. Like I've seen
way worse than that, not the truth.
Speaker 3 (43:27):
And I'd say we've been doing a pretty good job
about negotiating some of these idems for buyers. I mean,
I know, we just did on a big deal.
Speaker 2 (43:34):
Yeah. And it's and the other part is because it's
the market's in the favor of the buyer right now.
I amen, you know, so it's like, you know, buyers like,
don't don't kill the deal. We might be able to
either get it repaired or give a credit. I mean,
I just on one of my own personal properties, I
just did it to one buy down, you know, where
I was willing to pay the buy down to get
the deal done to make the client happy. Because it's
the market rent so realistically right now, the buyers have
(43:54):
the advantage and if you want the Dunkin Duo advantage
to hits up at the Duncan Duo dot com. We'd
love to help you buy, buy, or sell luxury, commercial,
investor investment properties, first time home buyer, it doesn't matter.
We'd love to help you and we appreciate you tuning
in so much, and have an awesome Eastern Tampa Bay
Welcome to the Duncan Duo radio show hosted by Andrew Duncan,
the official real estate agents of the Tampa Bay Lightning.
That's Tampa Bay's top selling real estate team with over
three billion dollars in sales and thousands of homes closed.
Sell your home with these guaranteed in fourteen days or
they'll buy it. Basically at the Duncan Duo dot com.
(00:20):
Here's your host, Andrew Duncan.
Speaker 2 (00:25):
Happy Sunday man. I am really excited to have a
first time guest on the show. One of my rock stars,
Kat Benichi, has been with me a couple of years
and crushing it on recruiting and growth, and so we're
going to talk a little bit about that today. But
you know, having your first time on the show being
a real estate veteran, that'd be a good opportunity for
people to learn a little bit about you, you know,
(00:47):
kind of learn a little bit about you know, how
you how you kind of got integrated into the team
and you know a little bit of your real estate background.
And so yeah, you know, I think that one of
the cool parts about us like Kat is that she
allows me to do really what I'm good at because
what she's really good at, I suck at, you know,
And it's the truth. Like you are, you are, like
(01:10):
you're you're changing. You know, I can say suck. It's allowed.
The FCC doesn't have a problem with that one. H
Now if I put a different you know, there's ones
that we might say at the office I can't put
out there. But now, the the truth is is that
you know a lot of times leaders in real estate
companies they sometimes hire people like them and then they've
(01:30):
got a whole bunch of them running around, and that
is like bull in the China shop, right, And so
you are so amazing for our culture. And I know
that's that's one of the things that you've learned through
your career, you know, encouragement and you know you've worked
in multiple real estate opportunities and you know, so yeah,
tell tell the audience a little bit about yourself and
then we'll talk a little bit more about our culture
and kind of how you help build that in that company.
Speaker 3 (01:51):
Appreciate you having me today, Thank you so much. I'll
tell you what a passion for real estate started when
I was young. Okay, I absolutely did, yes, and I
had the opportunity at a young age. I think I
bought my first property at twenty one.
Speaker 2 (02:05):
That's awesome.
Speaker 3 (02:06):
So investing in real estate has always been a passion
of mine, just the product itself, just absolutely love it.
And then couple that with a genuine love of people.
I'm talking just a genuine love of all people.
Speaker 2 (02:19):
And see, I really love people. I just do a
terrible job of explaination or showing it. You know, you
love people, but you do a really good job. And
so that's one of the things in our office where
like you know, we're constantly saying, hey, make sure to
get that person encouragement because it's not a natural strength
of mind, and it is clearly a natural strength of yours.
Speaker 3 (02:37):
Well, and I'll tell you what, we really really feel it.
At the team level too, we definitely definitely do. The
culture is definitely a warm, supportive, collaborative environment.
Speaker 2 (02:48):
We're in addition with some accountability, but the accountability is
tailored towards the agent's individual level, individual desire for success.
What is their definition of success? Robert Palmer with LPT
talks about that a lot, and I think it's true
because we have agents on our team that want to
make several hundred thousand dollars, and then we have some
that want to make fifty and then some that do
(03:09):
want to do a handful of deals a year. You know,
that's what their level of success is. And then we're
delivering opportunity and coaching to help them get to their goal.
If they say, if you have an agent that says, hey,
I want to make a one hundred grand or I
want to make two hundredrand, or I want to make
five hundred grand, then you're coaching them and pushing them
to the goal that they seetly. Whereas like some of
our agents, you know, they may not get as many
leads and may not get as many shifts because they
(03:30):
don't want to grind and do as much as the
other person does, because their definition success is completely different.
So that's one of the things I think it's unique
about our approach to accountability is it really is tailored
towards you know, if an agent produces and they want more,
and they want more, we're going to keep providing. And
then if they get to the point where they're producing
and they're like, you know what, I'm really happy here,
then it's not our job to motivate them or tell
(03:50):
them that they should want more like that's going to
burn them out, that that's not their goal in life.
They want to they want to work and go home
to their family. They don't necessarily want to work twelve
hours in the day. And then we have other people
that do absolutely.
Speaker 3 (04:02):
Absolutely, I'd say that obviously we can help with the skills.
We've got that for you. At the end of the day, though,
what's fundamental, of course is motivation and mindset and drive.
That's what we can't give you, correct the skills we've
got for you.
Speaker 2 (04:16):
Yeah, right, And it's so true, and I think that's
one of the things that we've as we've been growing
this year. But you know, our April looks great. It
looks clearly the best month of the year. I think
our April might be better than any of our months
of last year in a market that's down, like our
market is down, you know, eight to ten percent in
Tampa because of you know, high interest rates. We've got
(04:37):
the whore, we've had high cancelation. So we're we're actually
out kicking our coverage, we're outperforming the market. We're up
when other people are down. And I think it's kind
of again, it's that individual definition of success, but also
finding those right agents that fit o a model because
they're agents that And again, if you're thinking about joining
a team joined the Duo dot com. You can set
(04:58):
a calendly appointment to talk to our team, you can
apply for opportunities, you can send us messages. But but
the unique thing about the real estate business, at least
for our team, is that the way that we're structured
just different than like a typical brokerage. It's it's certainly
not like having an employment job where you have like
a ninety five, but it's a blend between that and
(05:18):
then just kind of being on your own.
Speaker 3 (05:20):
I think that's very fair.
Speaker 2 (05:21):
It's kind of in the middle. And so there is
some structure, there is some accountability, there's also kind of
some freedom. And then the more the more that you produce,
the more opportunity we want to deliver, you know, and
and then of course at the same time doing that
with dignity, you know, continuing to dapt people up and
support them and celebrate them. And and you know, even
when somebody is not doing a great job or messes
(05:43):
something up, you know, we don't we don't need to,
you know, we we we you know, we we direct
them with solutions with dignity one, and.
Speaker 3 (05:52):
I'd say we do a good job that I really
really would. I'll tell you. I use the I use
this example I had talk about supportive and collaborative. I
use the example of one of our team members. She
was a newer team member with us, phenomenal, all tremendous potential.
But she she was sitting at our call duty desk upstairs,
and I could hear I was in my office and
I could hear her kind of fumbling to a certain
(06:13):
degree on the phone. And it was interesting because I
was up and headed to her to help out, and
before I could reach the desk, there were two of.
Speaker 2 (06:21):
Other agents help on her. There.
Speaker 3 (06:22):
Yeah, collaborative environment, and I would one hundred percent that's
not just hearsay.
Speaker 2 (06:29):
That is and truthfully, it's not where we've always been.
You know, like one of one of the things that
you know, you were kind of charged with coming too
the company when you came in was that we did
have that stigma where it was a little bit more
boiler room than you know, a lot more boiler room
than it is now, and there was a lot of
condescending and you know, and that's never been my personality,
but we had leaders that that was their personality, and
(06:51):
it was very snarky and condescending. And you know, it's
just that that type of energy isn't going to help
people get better and it's like to keep them there
and and so we fixed it. And so so if
you are looking for that, you know again, if you're
if you're a real estate agent, or if you're thinking
about getting in, because this is actually, in my opinion,
one of the best times to get in is a
(07:12):
real estate more people people are like, oh, but the
market's so bad. But if you can get in and
learn the fundamentals, like the people that get in when
the market's really hot, they end up they're out a
year or two when the market turns because they learned
everything in a good market. They don't know how to grind,
they don't have to do the work. They don't know
how to do the work. They it's all easy money's
raining from sealing. Anyone can sell houses when that's happening.
(07:33):
But if an agent comes in now and they really
master those fundamentals, they can truly grow a business and
and and with us in addition to you know, the
working with buyers, working with sellers, doing flips, investing in flips. Like,
there's so many different tiers that we have for people
to kind of graduate and get more opportunity, and and
and again, if you start when it's challenging, and you
(07:54):
get good when it's challenging, you're going to explode when
the market when the market doubles. Absolutely.
Speaker 3 (08:00):
And I would say that we're not even looking for
the most experienced agents. I'd say that we're looking for
someone who coach, is coachable, Yeah, coach consistent, and wants
to grow.
Speaker 2 (08:10):
Yeah.
Speaker 3 (08:10):
I mean that's really ultimately what we're looking for.
Speaker 2 (08:12):
Yeah, And a lot of times, and again we do
have some really experienced agent again, agents with us more
than ten years. But sometimes you have preconceived notions, or
you have bad habits, or you do think you've gotten
used to doing things a certain way and we might
do them a little bit differently. And there's some of
that kind of conflict that can sometimes happen with a
really experienced agent. And again, the ones that we do
get there really experienced have experienced enough of the bad
(08:35):
of not being on a team, not getting the leads,
not getting the transaction coordination, not having a brand behind you,
not having an office building, like all of those things,
they don't have them. So then they're finally like, Okay,
if I add this to what I'm doing, then then
I'm going to really do well. And so I think,
you know, we've talked about how the market is about half.
We're seeing about half the transactions compared to where we're
at me. So again, if you're a real estate agent
(08:56):
and you come in and you get really good, and
you're doing like eight deals, ten deals, twelve deals a year,
which is probably average, maybe a little above average, truthfully,
and then the market doubles. You know, again, if you
keep improving your skills and you keep being coachable, and
you keep learning how to implement AI and all these tools,
your production is going to dramatically rise with the market.
But if you got in at the time when it's
(09:19):
super hot, you sometimes have some bad habits because it
was easier. So getting in right now and my opinion
is perfect time, because I do g I genuinely believe.
Obviously the Iran situation kicking interest rates up and oil
prices push some of this back, but I believe we're
on the verge of a boom in Tampa Bay real estate.
It's not next month's probably not the next three months,
(09:42):
maybe the next six truthfully, probably more like next year.
But if you do all the things now and build up,
then your.
Speaker 3 (09:50):
Position it is just going to say the same thing.
And I think a lot of people that are seeing
success right now were individuals that pressed in when time's
got difficult.
Speaker 2 (09:58):
Correct as they said, they said, and again that's the
same thing. We've got agents that are crushing it. We've
got a we've got an agent with more than six
million in pendings. We've got multiple agents that haven't been
with this long at all to have more than a
million in pending, the pull homes under contract like their
first week. And again they were willing to do the
work because when the market gets tough, a lot of
agents kind of give up and quit. So we just
(10:19):
keep encouraging, keep driving opportunity, keep keep you know, keep
pushing that their individual definition of success. And then what
happens when the market moons, when we get property tax relief,
when we get interest cut relief, when we avoid another
hurricane season, you know, all these things keep piling up,
and then of course the economy kind of starts chugging again,
(10:40):
and you know, all this fear that's out there kind
of subsides. You know, then then the market could has
has the possibility to explode because there's so many consumers
right now that are sitting in homes that they don't
want to sell because they got low interest rates and
a rate for them to buy is too high. And
then there's a lot of consumers that can't buy because
the rate's too high. Like you know, and we're going
to talk about the luxury market in our next segment,
(11:03):
because that it kind of operates. It's like it's kind
of like, you know, I pay attention a lot to
the stock market of financial markets, and when somebody says, hey,
the stock market's up today, that might mean semiconductors did
really well and oil and gas did really well, but
you know, you might have had retail companies do terrible today.
You know, like real estate's the same way. You have
these little pockets and segments and the media. You know,
(11:24):
kind of our average price home hasn't really even though
the average price in Tampa Bay is whereas in the
average priced home hasn't. And I'll explain kind of what
we talked about this week. But the point is is
there's so much of that activity that's kind of pent
up and held back because high rates. And then all
the people that don't want to sell their home. They
want to move up. They want to go from a
five hundred to an eight hundred, right, but they don't
(11:44):
want to go from a three and a half to
a seven. Well they go from a three and a
half to a five ish, Yeah, probably, So that's that's
there's so much demand, there's so much stuff to tell
back that once those things start happening, I think we
get we really do have a chance. We're seeing population
growth already, but we're it in the in the upper end.
You know, we're seeing it in a lot of millionaires
and billionaires, and you know, we're not seeing it as
(12:06):
much in the mid level price points. And I think
that once property tax relief happens, we get more insurance relief,
which seems like it's happening too, and then some interest
rate relief, and I think there's a really good chance
that we see that boom. And if you get in
now your position.
Speaker 3 (12:19):
For absolutely and I'd say that the right environment removes
years of trial and error. I just can't say enough.
How positioning yourself and within the right environment is critical.
And we are one that wants to see our team
members succeed.
Speaker 2 (12:36):
And I'm in genuine and different than like we are
a large team, but in reality we're not that large.
Speaker 3 (12:42):
That's right.
Speaker 2 (12:43):
There's a lot of teams in Tampa Bay that have
now grown to the point where there are hundred plus
agents that to me, I would rather keep it, you know,
like thirty forty agents, but go deeper with our agents
and have more productive agents instead of having a mill,
you know. And I think that's kind of what we
what we've always kind of had. We've always had a
higher productivity per agent, and that's more of a focus
for us than just going out and recruiting a bunch of.
Speaker 3 (13:03):
Mind one hundred percent. And I think I do hear
that from candidates as well.
Speaker 2 (13:07):
We hear it when they go and interview with other teams.
I didn't feel like, you know, like I didn't even
get to talk to the team leader, and here's Andrew
leading a meeting and talking to me.
Speaker 3 (13:14):
It's true. And one of the things I hear a
lot from our candidates too, is just generally being unsupported,
feeling stuck because they're unsupported.
Speaker 2 (13:23):
Because because that team is so focused on just get
as many bodies as they can and then hope some
of them figured it out. Whereas our approach is we're
gonna turn away a lot of people, and we do
like we're gonna turn away a lot of people because
we're like, we're like, we're not the right model for you.
But the ones that we do, we're gonna pour into.
We're gonna pour into deep or we're gonna help them
build wealth, We're gonna help them flip houses. We're gonna
help them want to work with buyers and wanted to
work with sellers. So so again, if you're an agent
(13:45):
struggling or thinking about getting into business, or know someone's
thinking about getting into the business, and this opportunity sounds
great for you, just hit us up at Joined the
Duo dot com or any of our social channels to
slide into those dms at the Dunkin Duo and we'll
be back. We're gonna talk about the luxury market after
a quick break here on the dunk and Do show.
Speaker 1 (14:00):
Back to the Duncan Duo Radio show, the official real
estate agents of the Tampa Bay Lightning top team in
Tampa Bay over at three billion sold in counting. Now
your host Andrew Duncan, we're going to.
Speaker 2 (14:14):
Talk about the luxury real estate market. Kat Banici with
the Duncan Duo team is with me. Kat is our
director of Growth, but also works with some of our
luxury clients. You've you've worked some of our million dollar
clients recently, and the luxury market. It's interesting because you
hear all this, you know, population growth and all these
things are happening in Florida, and in reality, we're not
(14:35):
seeing population growth. We're actually about I mean a little
bit of population growth because we're losing some of the
lower priced, lower priced home buyers because of affordability, taxes,
insurance and all that. But we're gaining a lot in
the upper end, the higher price point, you know. And
so so the reality is like when someone looks at
our market, and you know, I've had consumers say this recently, like, well, hey, Andrew,
(14:58):
last year, the average price was for eight now it's
five twenty seven. My home should be worth more. My
five hundred thousand dollar house should be worth more. And
the reality is it's a statistical flaw that you're looking
at that's misleading you into thinking that because you're looking
at an average. And so what's happening right now is
our average priced homes in Tampa Bay are not appreciating.
In fact, quite the opposite, they're depreciating. Our homes that
(15:21):
sold a year ago for five hundred are probably full
eighty four seventy five. The reason why you're seeing that
average sell price go up is because we are getting
that influx of entrepreneurs, millionaires and billionaires moving to Florida
buying you know, one, two, three, five, ten, fifteen, twenty
million dollar properties, and that is massively moving our average up.
Somebody that lives in California that doesn't want to pay
(15:43):
their wealth tax, or Washington just did one too. New
York has a high state income tax. And so these
these states that are you know, very heavily burdened on
wealthy people and entrepreneurs are tax those people are fleeing
those states, are bringing their companies here, and and so
the good news is that will end up the population
growth will end up trickling into some of the other
(16:04):
price points. But the founder moves first, right, Like, he
moves first, and then he's like, let me find this
you know, let me buy my twenty million dollar house
or ten million dollar house, and then and then it's
let me find a building for all my fifty people
and those people, you know. So there's a trickle effect
to where those those businesses relocating because of those entrepreneurs
leaving those states are also going to move people here.
And my hope is all that's happening at the same
(16:26):
time that we get interest rate relief and property technis
you know, but the luxury market is is a different animal,
and it's it does skew our our stats a little bit,
and it's confusing for people because they don't understand, like, well,
the reason that average sale price went from four ay
to five twenty seven because we had a bunch of
sales about two million. So when you average that out,
(16:47):
that two million dollar house is like four average houses.
It's just pulling that. It's just pulling the numbers up.
So so speaking of the luxury market, though, we've got
some we've got some really good luxury agents. Jackie Turik
with us absolutely killing it right now. We've got Deanna's
new to our team, she Purr and Josh is sold
an eight hundred thousand dollars house Grant put a couple
of deals above a million. On commercial. Sam Mende just
(17:10):
put a couple, you know, he put million dollar deals.
We had a brand new agent put an eight hundred
thousand dollars deal under contract that not even been with.
Speaker 3 (17:17):
Us very long, and she also has like a five
hundred ye.
Speaker 2 (17:21):
So, but the luxury market is different because the consumer
expectation is different. And you know, if you're out there
buying or selling luxury real estate, and let's just say,
you look up our team and you're like, oh, you
guys sell two hundred thousand dollars houses. We sell everything.
Like I've got agents that only you know, if it's
not above a million, it's not for them, you know,
like they're literally like they're not going out to Lake
(17:41):
Wales to sell real estate, you know, they're they're just not.
They're they're selling million dollar you know, condos and two
million dollars and three And then we have agents that
would love to sell fifty fifty low lower priced properties
in a year compared to the deal with luxury crowd.
So again, to each their own, but our agents are
geared towards being a specialist in those in those segments.
(18:03):
So my luxury agents are doing more luxury. But rest assured.
If you're a buyer or seller wanting to work with
a luxury agent and you sign up, you're gonna get
a luxury agent with us. If you reach out and
you say, hey, I want to buy a two million
dollar house, you're gonna get a luxury You're gonna get
an agent that's experienced in that price point. Similarly, if
you reach out and you're you know, you own a
bunch of rental properties that are two hundred thousand, three
(18:24):
hundred thousand each, you're gonna get one of my agents
that does that owns a bunch of rental properties. Like
the ideas, our goal is to be able to match
the consumer.
Speaker 3 (18:34):
We do.
Speaker 2 (18:34):
We have quite a diverse we do. We do, and
we sell really across it, but the luxury stuff. Sometimes
I'll get people say, well, you know, like I see
a lot of three and four hundred thousand dollars house,
Like okay, well go look at the person that only
sells above a million. How many they sell last year fifteen?
Well we sold twenty five, you know, like, we sell
more of it. It's just the numbers don't look the
same to you. Because it's a different proportion. All of
(18:56):
their stuff is above a million. We do it all,
but we're doing more above a million than that person.
Speaker 3 (19:00):
Well, and I think you always share with you always
say over and over again, family served. Yeah, I mean
really really the cornerstone of what we want to achieve.
Speaker 2 (19:09):
And and and I think that naturally, if our focus
is on serving that family, the agent for us that's
more experienced with that luxury client that sells in that space,
that negotiates in that space, that's used to dealing with attorneys,
that's used to dealing with you know, you know, complicated loans,
you know those types of things. That's going to be
a different agent for us. That's going to be kind
(19:30):
of their specialty. So so we really have built a
business that if you're looking to buy or sell, we
have an agent that's the right agent for you for
that specific niche. And no matter the radius, like we
go all the way down to Nis, Florida, like we
go up to a Hollma Sassa, like we cover an
enormously broad radius. And those are agents that live all
over like I have agents that we have agents that
live our Plus I would say a lot of our yes,
(19:53):
so we were very spread out. But it's because if
you're listening to me right now, you might be driving
your car, maybe you're listening home, and you know who
knows where you are. Like we the way that we
advertise isn't isn't by a farm or a neighborhood. It's
really kind of a tart. It's more of a broadcast approach,
so we're getting all of those areas and neighborhoods. So
so that's a focus for us, is making sure that
(20:14):
we're delivering that luxury experience to the luxury client and
then that investor experience to the investor client, or that
commercial experience to the commercial client, so that the agent
that they're getting is somebody that's trained in that specific
niche and not fumbling it because they don't know what
they're doing, you know. And so you know that it
is different even even from a standpoint of the marketing
that we would do for a hire end home. You know,
(20:35):
we're talking drones and videos and showcase and print advertising
and you know, we've done we've even talked to LPT
about doing billboards for some of our luxury stuff. So
it's just a different it's a it's a different marketing
approach too. We're going to take that house and we're
going to deliver the marketing that makes the most sense,
you know. We It's funny we had a property this week. Grant,
(20:56):
our commercial agent, called and he said, Hey, I have
a client wants to advertise this property in very specific
zip codes because they do a lot in this area
and this is every time they've sold something, this is
where the customer comes from. So he's like, can we
do that? I was like, we absolutely can. So we
put a pay per click campaign together and we advertise
it in these specific zip codes and guess what happens.
(21:17):
The property sells and it's someone in one of those
zip codes, you know. And so the reality is is
we're going to look at the particular property and figure
out the right targeted.
Speaker 3 (21:26):
Ads, targeted marketing.
Speaker 2 (21:29):
And so again, if you're thinking about buying or selling,
if you're thinking about luxury, we've got an agent for you.
And the other thing I'll say about luxury too is
off market. Our best luxury agents are finding a lot
of stuff off market, Like Jackie had an almost two
million dollar deal off market, Like, we're finding stuff for clients.
I have a personal client that said, Hey, I want
(21:49):
to spend up to fifteen million and I want open waterfront.
Here's what I want, and I haven't found it yet.
I'm going to this restaurant on Friday, but I haven't
found his house yet. But I found them a couple
that were off market, and one of them is close
but not quite. So We're going to keep looking. But
the point is is like, even if it's not out there,
if you're not seeing it, well, we have two hundred
(22:10):
something thousand people in our database. We'll find something that
makes sense for you.
Speaker 3 (22:14):
Absolutely, I'd say the off market sector is definitely something
that we hear a lot of the clients, you know,
intrigued about and really interested in.
Speaker 2 (22:21):
Yeah, for sure. So definitely private, that private because especially
there's a lot of news impressed about the lawsuits and
whether or not you can pre pre marketed or whether
you can do an exclusive listing. And most of the
shackles for real estate agents have been taken off now,
which which I actually agree with. I'm not a proponent,
you know. In fact, I'm going to save this comment
because I think it is a good topic for our
next segment about the MLS, cause I want to talk
(22:43):
about that a little bit, because the way technology and
AI are going right now, a lot of changes come
into real estate. So we'll back after a quick breakound
the dunk and do a show, and we're back with.
Speaker 1 (22:53):
The Duncan Duo radio show, Tampa Bay's number one real
estate team, over three billion in sales, thousands of Pavy
clients and official partners of the Lightning No your host,
Andrew Duncan, it's I got my SpaceX hat on.
Speaker 2 (23:09):
I'm a SpaceX fan. I love the all the cool
technologies that's coming out in the world. We had a
rocket launching off the coast of Tampa Bay. I had
about thirty people out of my property that just kind
of gathered as it got closer and closer. And I
usually run people off of it because it's like a
wide open waterfront property. But that day I was like,
you know what, go America. I'm not just get out,
go go enjoy it, you know. But nonetheless, technology is
(23:34):
massively changing so many things right now, like AI, even
like even this show right now. Usually, like when I
record the show, I forget to like write out the
segments and give like our marketing people like a heads
up of where certain videos are like because I just
forget now we have a idea, Like James literally sends
me the summary and it's like Andrew talks about this
this week, and I like you just you know, James
(23:56):
has made it easier for me. Thank you, thank you,
James GT. James, James James Chad Chat James GT gpt So.
But the truth is technology is massively changing so much,
and I think their real estate industry is behind the
curve with a lot of it, and it's and it's
getting forced to adapt. The dysfunction or not dysfunction. The
(24:16):
disruption to real estate is coming. We hired a company
this week that edits our photos now and it's all
done via AI. Like we used to have to spend
hours on light room and photoshop and doing all these
things and now literally a click of a button and
it's and they're editing it and and so the technology
is coming. And the the MLS, for example, very recently,
(24:39):
there's been a massive amount of lawsuits between and I
won't name the real estate brokerages because I don't want
to give them any love, but there's some massive amount
of lawsuits between real estate brokerages, real estate platforms and
MLS is about the rules around whether homes can be
kind of marketed without going on to the MLS. And
so far the brokers and the portals are winning that battle.
(25:01):
And now we've got like this runway where it looks
like we're going to be able to do coming soons
or exclusive listings for periods of time. And we've always
kind of done that, but but it's but now it
can be a little bit more formal or a little
bit longer, even like we've always asked for in our
listing Agreement's a period of time because we want to
make sure to put our best foot forward with the
photos instead of rushing and slopping it out there. We're
(25:22):
we're marketing something, we want to market it right. But
so there's been a struggle for so long about how
you know, some consumers, uh don't want to put her
on the MLS and THESI elier don't want to put
it on it at all. In the real estate industry
for a long time said well, that's not in the
seller's best interest and it should always be in the MLS.
And you know, I always believe that was a really
(25:43):
arrogant approach to believe that you know what's right for
every consumer. I mean, industries that think that they can
tell the consumer what's right fail, you know, they get
disrupted and then the consumer gets what they want. And
so now we're starting to win this battle where there's
a certain percentage of consumers that want to go to
a path and and so you can argue whether it's
(26:04):
right or not. But if you're selling a ten or
fifteen million dollar house, maybe you don't want to sign
in your yard, and maybe you want to have a
little bit of a process and maybe you know like
and and or maybe you're selling a house and it
needs a little bit of work and you want to
market it a little bit in case you find somebody
before you go official on the MLS or put the
work into it to buy it as is. You know.
So there's all kinds of reasons why it would make sense,
(26:24):
but the industry is always kind of frowned upon that
to the point where we would get fines, we would
get warnings, we'd have this, we'd have that, and it's
it's nice because again, not not every consumer wants the
same thing, and the real estate community is like, oh, well,
we need to get the seller the most amount of money,
you know, That's why it needs to go in MLS.
That's wrong because a lot of the sellers don't care
(26:47):
about the most amount of money. They care about the convenience.
Like like imagine, like you know, I know your your
son worked at Chick fil A. Okay, so Kat's son
is a is a stud at Chick fil A. He's
got his spoored Mustang out there. Okay, he's a great kid.
I know the owners at the Chick fil A in
South Tampa, and I'm in there a lot. And you know,
(27:08):
of course, do I like the food. Yeah, I like
the food at Chick fil A. Is it is it
Eddy V's or Ocean Prime or Flemings. No, it's not.
But it's the convenience I can get it and set.
I'm not in that. I'm not in there for more
than six minutes before I have my food. And so
so the consumer started to change a few years ago
with instant offers and all these companies start saying, oh,
(27:30):
we'll buy your house wire house, and now we do
that too, like we'll buy your house too, you know,
we'll buy it cash and we'll we'll beat the hedge
fund or we'll give you longer to close, or we'll
do something creative. We can do things that maybe these
large institutions can't. But you know, the reality is is
real estate is evolving and changing so much, and a
lot of the tech has kind of been held back,
a lot of it has kind of tried to stay
(27:52):
antiquated in old school. And we're going to keep doing
it this way because this is going to get the
customer the best price.
Speaker 3 (27:57):
Yeah, now, no, and you definitely are at the helm
with that.
Speaker 2 (28:02):
Yeah, it's the it's what is the consumer want. The
consumer may just want to sell their five hundred thousand
our house for four forty and be out of it.
Speaker 3 (28:10):
Well, we talk about Amazon style type kind of surress.
Speaker 2 (28:12):
Right right, Like, I know I can get something cheaper
than I get it on Amazon sometimes, but I know
if I push the button and click, it's going to show.
It's going to show. Now, it can show up within hours,
you know, Like it's crazy, but it's it's convenience. People
don't realize that, and a lot of those consumers don't
want to eat up the days on market. They want
to tease it, they want to put it out there.
They don't put their feelers out there. They don't want
(28:33):
every Tom Dick and Harry walking through their house. And
so I love that our industry is starting to adapt
like so many other industries and make it more consumer
centric instead of protecting the realtor you know, like it's
a reality, like you know, and maybe I get a
nasty gram from the MLS this week, but but the
reality is the MLS and the boards and nar are
(28:53):
about the number of members. That's how their revenue is driven.
It is the number of members that they have. So
they have some of the these some of these policies
that have been draconian, they are now getting struck down and
they're losing cord and the commission stuff. Now that they're
getting some losing some of these battles. The consumer, uh
you know, is is kind of controlling that. It's it's
(29:15):
consumer choice. It's it's what does the customer want, and
and not every single customer is about getting the most priced.
Some of them want convenience, and if you're trying to
argue them that no, it needs to go on MLS
because that'll get you the best price. I don't want
the best price. I want to be out of sing
in a week, you know, or or I don't want
to take this type of loan product or you know,
or I don't want to eat up the days on market,
(29:36):
So let me put it out here for a few
months and get some feedback from customers. Or let's do
a few brokeer opens on my ten million dollar house,
like so that we're able to effectively, you know, apply
what other industries have applied and say, hey, we're going
to kind of cater this to really.
Speaker 3 (29:50):
Just get it keeps in line with our catered experience.
I mean, it really really does something I'm so proud
of across.
Speaker 2 (29:57):
The and I think the uh. And again it's it
is across all price ranges. There are plenty of people
that have a two hundred thousand dollars house that don't
want to list it. They had bad experience, they had
a bad agent, they didn't have a dunk duo agent.
That's right, that a bad agent that had something fall apart,
they got lied to, their deal fell apart. Whatever it is,
so forcing that whole MLS thing wasn't effective. And again,
(30:21):
all of those entities there are for profit enterprises, and
how they generate revenue. They don't make more money off me.
If I sell more houses, I pay the same dues
as the guys that has to sell anything. So they
had these policies to kind of protect agent count, and
now that that's getting broken down a little bit, I
actually think the next few years we're going to see
this massive transformation. I mean, how much do I talk
(30:42):
about AI.
Speaker 3 (30:43):
In that Oh my gosh. Maybe, But no, we all
anticipate it. It's part of team meetings. It absolutely is.
But and I'd say that each one of us has
learned so much from you about it, and I'd say
we've integrated it into our every day life. I think
as a team we've done a really good job with that.
Speaker 2 (31:02):
And I think so so kind of thinking about like this,
this evolved involvement of AI. There's a lot of people
that are worried that it's going to like change jobs
and do all this and and and what I think
it does is for the right people at scales and
leverages them. And so do I think there is going
to be a reduction in the number of realistic agents
in the next years, I absolutely do. I do. But
(31:23):
I also think it's going to it's it's going to
be the people that are going to adapt and evolve
and use the technology in the right way and learn it.
And it's also going to be the people that are
going to say, I want to deliver the customer the
experience that the customer wants, right, Uh, not necessarily, you know,
have to throw everything into the MLS because that that
(31:44):
process of forcing things into the MLS was keeping agent
count higher because that would give more at bats to
that agent.
Speaker 3 (31:51):
That's right, you know.
Speaker 2 (31:52):
So like, so what will end up happening is I
think both AI and some of those changes around coming soon.
I think the good agents are going to get better.
The better agents are going to get the best. The
best are going to get the bestest. But I think
you're going to see this transition where there's a professionalism increase.
I think AI will actually make our the the a
(32:13):
good real estate agent even better. And and the changes
with AI and MLS, I think will cause a lot
of those entry level agents that don't work, or that
don't adapt, or that can't sell anything, it'll get them
out like and and and then the consumer, in my opinion,
consumer sentiment improves because now that customer is getting a
better experience. I mean, look, everybody's had I mean, I'm
(32:35):
sure you I personally have had bad experiences buying and
selling in other markets with real esta agents and industry. Yeah,
like so we we've all had the bad experience of
the real estate agent. And so I think this, uh,
this short term thing that's kind of started now with
AI and tech is going to start moving some of
(32:55):
those people out and it's going to help the better
people become the best. It's going to help everybody level up.
And I keep telling the team, I'm like, look, I
don't believe anyone in here is going to be replaced
by AI. Who you're going to be replaced by as
a guy that's going to use AI when you're not
using it, you know. And so the technologies that are advancing,
you know, again, I very I very much believe that
(33:16):
in the next two years, we're going to see things
like drones flying through houses, auto complete automation, no lock box.
You show up, it registers your phone, the door opens
because it knows you have the appointment, automatically, it pops
on a song because you're you've registered with Spotify what
song you want to play. There's so much smart home
(33:37):
technology that's coming, and so much AI capability that I
think all of this stuff keeps getting you know, more
consumer focused, and then the agents that adapt and evolve
get better. And I think we see that in our company,
some of our some of our best agents are now
evolving and getting better because.
Speaker 3 (33:54):
The tech absolutely yeah, and even digging in I mean
fundamentally with more market stats, things of that nature. I mean,
it just it moves the needle on all of that
for our agents, It really does. And we appreciate you
kind of being enough the helm of pushing us to
do that.
Speaker 2 (34:08):
Yeah, And I think that every week, Yeah I do.
Did you hear that? Every week? I do? But but
the tough part is is that that I know if
I don't do it, then I'm gonna regret that I
didn't push the needle, push the envelope a little bit
more with some of the some of the team members,
because again, I want everybody in our company to succeed.
I want them to hit the level success that they
(34:30):
want to hit. And I think that that AI leverages
and scales them. It's not going to replace your job,
but it's going to help you get information, it's going
to help you get questions answered, it's going to help
you know edit photos, edit videos. It's going to help
you with role play, like we are not far away.
Ladies and gentlemen from real estate companies having most of
(34:52):
their calls done by ai AI can't show the house though,
okay they we were not there yet. Maybe someday Elon
gets these robots going, but right now, we're still showing houses,
we're still negotiating, we're still listing, instituting a marketing plan.
But the ai IS is eventually going to take more
of these things that allow the agent to serve more customers.
(35:14):
The best agents will double their production with the right tools.
Speaker 3 (35:18):
And I think one of the things you've done really
well is encouraging us just to embrace it, you know,
not the fear that it's going to completely replace us.
Because I hear that.
Speaker 2 (35:27):
I hear everybody like, oh, this is the way it
used to be. We used to have two hundred thousand
dollars prices. To you, guys like these prices better. Like
my first year, my first year, nine point my first year,
about one hundred sales. We did one hundred and one
sales for nine point one million. Do that average cell price?
Everybody I was selling wheel estate, I was selling trailers
and short sales. So so again, like you know, the
(35:50):
prices used to be really low too, So now you
know the trade off is, you know, you got to
be more savvy with the tech and got to learn it.
And so I can promise you that if you do
hire us to sell your home or work with you
as a buyer, we're using AI to market your home.
We're using the tools to allow it to get in
front of more people. We're adapting and evolving with all
the new technologies to give you the right exposure. And
(36:11):
for buyers, same thing, we're using AI to help find inventory.
We have AI chatbots that we're integrating into our CRMs
where we're gonna be able to tell it say, hey,
we have a customer that's looking for this, you know,
like where we're just telling the computer we have a
customers looking for this, find this in our database, and
then it finds it. Then we're targeting those people to
try and find a home for you. So AI is
(36:31):
definitely changing the game. We're gonna be back when we
wrap up our last segment after a quick break around
the Duncan Duo Show.
Speaker 1 (36:36):
Back to the Duncan Duo Radio Show hosted by Andrew Duncan,
official real estate agents of the Tampa Bay Lightning and
the team that guarantees your home sales with the Espeacit
the Duncan Duo dot Com. Right now here's Andrew Duncan.
Speaker 2 (36:52):
So speaking of those Lightning. We're on the verge of
the playoffs, getting towards getting towards the playoffs. We've had
had a lot of team members out of game. We
sure we brought some well, we also brought some cooperating
agents that that do deals with us out to out
to games this week, so that that's always a great
part of our team too, is just kind of shared
in that cool experience with the with the with the
(37:14):
Tampa Bay Lightning. And if you're an agent that wants
that opportunity, you want to go to some games, you're
a big hockey fan, you maybe want to work with
a player here and there. We do get them, Uh,
we do get them. Occasionally, we get some of the
staff and and some of the some of the coaches
we've worked with. You can go to join the Duo
dot com again that's joined the Duo dot Com. We've
(37:34):
notoriously required agents at our company to work with buyers first,
and we've really kind of changed that a lot. Yeah,
So if you're an agent that avoided us because you said, man,
I don't really want to work with buyers for that long,
we are graduating. We're we're graduating people really quickly to
working with Cellar.
Speaker 3 (37:49):
I think it's important that we note that, I really
really do. I think right now we have greater opportunity
to scale people than we have before and getting them
closer to you.
Speaker 2 (37:59):
And yeah, yeah, And obviously I do the daily coaching
with the listing agent. I wouldn't say daily, three days
a week. Josh covers from me one and then we
have the team meeting. So but multiple days a week
I'm doing the huddle, and then we do the listing
training classes and the listing meetings and and so my
goal with the listing agents is obviously diving a little
bit deeper. Those are agents that are really experienced. They're
doing a lot of production. I'm helping them improve their numbers.
(38:20):
I'm helping them learn how to flip real estate. I'm
helping them learn how to build wealth. So so if
you yeah, yeah, yeah, Now, now when we do flips,
are our team members get to invest in those flips too,
which is which is a cool which is a cool thing?
The the The other thing though, that I would say
is again, if you didn't join us in the past
because you didn't want to be stuck working with buyers,
(38:41):
like take a look again, I hit us up at
Jointhduo dot com the cattle reach out to you. We'd
love the opportunity to talk to you about some of
the things that we've done to kind of change that perception.
And also because we're getting more celarties and we can
keep up with we need more, we need more people
listing agents. We do so, so I also wanted to
(39:02):
I forget the last thing I wanted to talk about.
I know that we were going to talk about the
uh we were going to talk you know agents. I'm
drawing a blank on the last thing that I wanted
to talk about, So I'll just pick something out of
the sky. The mortgage market right now, right the mortgage
markets super challenging. Interest rates are high. We're having to
(39:25):
coach a lot of agents on how to coach buy
downs and how to how to help the understand help
the client understand the you know, the the challenges with
you know, having a higher interest rate right now, and
they may come down. And but the reality I think
a lot of people get confused about is that you know,
you're not when you hear someone say, oh, I got
a thirty year mortgage, Like, no, you didn't, because there's
(39:46):
very few people that are staying in that thing for
thirty years years and are paying it off for thirty years.
You're going to be in it for a year or two,
maybe three, and then you're going to refinance or you're
gonna sell and you're gonna move. So but the interest
rates are a little bit challenging. But there's creative things
we can do. You know, the builders have shown this,
the pas they all do the buydowns, and we can
just we can mimic and do the same thing. We
offer free one ozho buydowns for for our listings to
(40:08):
help our listings get exposure. But but but nonetheless, the
mortgage market, you know, we've seen interest rates tick up,
and you know, we hope that they soften back down.
We hope that we get back to that boom. But
but the mortgage market has been a little bit tricky
right now. You know what else has been tricky as cancelations.
Speaker 3 (40:25):
We've talked about that. Haven't we had to do?
Speaker 1 (40:27):
Yeah? We have.
Speaker 2 (40:28):
Yeah, And I know it's it's tough, like you know,
like I'm sure you're you know, you're you're trying to
coach your agents through it and talking to them. But
what are what are things you think of that like
where a consumer is making a mistake.
Speaker 3 (40:40):
Like, yeah, I think we talk about it all the time,
don't we appraisal during inspection period and complaining those two together?
Speaker 2 (40:47):
Yeah, really, really, I think it's a big deal not.
Speaker 3 (40:49):
Having to revisit negotiations like twice. Really really do absolutely.
I also think that with a lot of individuals that
are looking to make their first purchase, they're intimidated about
that report without a shadow of a doubt.
Speaker 2 (41:04):
Yeah, and then they cancel for something.
Speaker 3 (41:05):
That's small, without a shadow.
Speaker 2 (41:07):
That's the one positive thing about AI too is you
can start throwing those reports in there and consumers can
start to figure out like, oh, let's read so bad
and you throw it into rock or Claude or chat
GBT and you find out, oh, it's only six hundred dollars. Well,
I was about to blow up a deal for six
hundred bucks, right right.
Speaker 3 (41:22):
And you talk about prepping the people for it, and
I think that's critical, right, hair is on fire when
they get those inspection reports, are they? Sure are? But
I think we've been at the team, we've been doing
a better coach.
Speaker 2 (41:33):
And then just talking to other agents, trying to do
what you can to help the client under.
Speaker 3 (41:37):
Relationships with listing agents on the buy side.
Speaker 2 (41:40):
I think more than anything is just getting to see
it from a financial perspective, because let's just say there's
a few thousand dollars in repairs. The next house is
probably gonna have a few thousand and two, you know,
and and you cancel, and then you go out and
you spend another inspection, you spend another It is only
guess what that house has the same thing. But consumers,
because of social media, everyone wants to be able to
hit the filter button and they went to a plus
(42:02):
and what the lots of likes and views and to them,
that's a clean inspection report. And that doesn't exist, Like,
it just doesn't.
Speaker 3 (42:07):
It just doesn't.
Speaker 2 (42:08):
No, there's no such New.
Speaker 3 (42:09):
Construction can take it.
Speaker 2 (42:11):
Yeah. No, construction can sometimes be the worst because then
they completely forget stuff, Like we've had homes closed new
construction where like the people go up in the attic,
they're like they forgot the insulation. You know, it's like,
oh my goodness. And or there's you know, here's this outlet,
but it's not plugged in. I can't get any power
to the outlet. So there's stuff that new construction misses,
and and uh, you know, at the same time, you know,
(42:33):
the the resale side of it. What I always tell
customers that are weary about the inspection or that they
get a little spooked, is you almost have to treat
the inspection as long as it's not like a four
point issue. So you've got a good roof, you've got
a good ac you've got the main core things, and
then you get a bunch of little stuff that's just
a blueprint of your like you know, your your to
do list, your honey to do list for the next year,
(42:55):
that you've got to spend weekends tightening up a couple
of little things. And it's just part of the home ownership.
I mean, I built my house in nineteen and already
stuff already, stuff break, already stuff failing, already stuff breaking, already,
stuff not working. You know, it's just that's the nature
of being a whole owners. You get to write it,
you get some write offs, and then you get the upside,
you know, and and so that's what you're paying for.
And but a lot a lot of consumers get spooped
(43:17):
at that inspection and then they're like, oh, I don't
want to buy this house. It's got so much wrong.
It's like, no, it really doesn't. This is like normal.
This is like it's actually really good. Like I've seen
way worse than that, not the truth.
Speaker 3 (43:27):
And I'd say we've been doing a pretty good job
about negotiating some of these idems for buyers. I mean,
I know, we just did on a big deal.
Speaker 2 (43:34):
Yeah. And it's and the other part is because it's
the market's in the favor of the buyer right now.
I amen, you know, so it's like, you know, buyers like,
don't don't kill the deal. We might be able to
either get it repaired or give a credit. I mean,
I just on one of my own personal properties, I
just did it to one buy down, you know, where
I was willing to pay the buy down to get
the deal done to make the client happy. Because it's
the market rent so realistically right now, the buyers have
(43:54):
the advantage and if you want the Dunkin Duo advantage
to hits up at the Duncan Duo dot com. We'd
love to help you buy, buy, or sell luxury, commercial,
investor investment properties, first time home buyer, it doesn't matter.
We'd love to help you and we appreciate you tuning
in so much, and have an awesome Eastern Tampa Bay
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