#91 Donimate 2025-Fast Start Coaching

Production Coaching Call with Coach Byrdman, 1/7/25 with his team and organization.

Episode Transcript

Speaker 1 (00:02):
All right, good morning, good afternoon, and good evening, depending
on where you are in the world. This is coach
Randy Bird. I am in for Vallas, Oregon as we speak,
and I'm really really excited to be with you today.
This is the kickoff of our twenty twenty five weekly
free coaching session. Again, just a little bit about myself.
This is not about me, but just so you understand,

(00:24):
is I'm letting people in the room. I've been in
the real estate business twenty one years. I was a
general contractor prior to that, and building houses in Sonoma
and Napa County. And you know, we'd get done building
houses in this little cute person would walk through the
front yard with high heels and the sign and throw
it in the yard and have an open house with
balloons on the sign over the weekend and sell it

(00:46):
that weekend and make thirty forty grand. And I was like,
what am I working in the winter all winter for
building houses? My socks have been wet for seven months.
And so I literally got my real estate license, thinking
it was that simple, went on to build beautiful career.
Was very, very fortunate. I didn't know any better when
I entered the real estate market. So I just did
everything they told me to do, and I learned and

(01:08):
I listened, and you know, there was a lot of
train wrecks along the way, but there was a lot
of knowledge gained. And so what this is all about
for me is really trying to give back to you,
give back to the community of agents, remind you of
the simple disciplines and the practices of real estate they're
important to you, and then really focus on weekly tactics

(01:31):
that can keep moving the needle forward in your real
estate business. Right, we've been through a cyclical change in
the real estate market. It's happened. I think this is
probably my third or fourth cycle in twenty one years.
But the last three years we've been in a cycle,
and that cycle had broken wheels, flat tires, and one
of the pedals were missing. The real estate market has

(01:53):
been one of the most challenging in arguably thirty to
forty years, because we've seen the number of cells be
cut almost directly in half. It's like forty nine points
something percent of our traditional sales volume. So when that happens,
it's a difficult market. I personally know people that do
twelve to twenty transactions year pretty average robust, not average,

(02:16):
a pretty predictable robust business when you're selling one house
to two houses per month and they did one cell
last year, and they're quality people, fifteen twenty years in
the business. There's several of them that I know about,
So it had its challenges. Right. So as part of
this segment and coaching, as we kick this off, I'm

(02:38):
going to look at it this way. I'm going to
talk about the overall real estate market. We'll talk about rates.
Thank you Kenny for posting that end maybe before everybody
got in, but Kenny Dougdale in Galt, California, we are
always tracking what the rates are really really important in
the real estate space. Right now, they're running seven point

(02:59):
one four percent average VAFAHA is a little bit lower,
just below seven, somewhere in that six and a half
six point six. But for you, as a profession professional,
seasoned real estate agent, whether you're new or been in
the business twenty years, you want to have some of
these talking points to talk to with your buyers and
sellers as we're progressing about what exactly is going on

(03:21):
in the real estate market. Right as we progress through
these coaching calls, I'm going to focus on you being
hyper local. So we have everybody from Miami to Boise,
to Washington to Canada on the call today. So I
can't talk about your specific market, but what I can
do is encourage you to take your specific market information

(03:42):
and become the master of that. Make sure you understand
how many months of inventory there are, otherwise known as
saturation analysis. Right, if there's if you're selling five hundred
homes a month and you have two thousand homes on
the market, that's four months of saturation, meaning that have
no more homes came on the market, it take four
months to sell those houses that are active. Right. That's

(04:04):
kind of a short explanation of saturation analysis or homes
on market. Time on market is how long those homes
are sitting before they get into active and or close status.
Mls is are all different. Some have it where it's
counted from the time it goes active the time it
goes closed, and some are creating an active timeframe. You

(04:27):
just want to make sure you understand what's your average
day on market so you understand what's going on in
that market, and then really what's your average sales price?
Because those couple things are going to be talking points
when you're servicing sellers and servicing buyers in your communications.
So one of the things that we'll talk about pretty

(04:49):
much every week is what's going on with interest rates,
what's going on with inventory, what's going on in the
real estate space. As a general rule, right and so
like right now, my version of the real estate market
from a coaching perspective is this and this is not political.
It may sound that way, it's not meant to be.
It's not political. But the political environment definitely changes the

(05:14):
real estate business. Anytime we're in an election year, we
see different things come up. Housings always at the center.
The ecosystem of real estate overall is very attached to
the economy. Real estate leads that I believe we're going
to see downward pressure on rates. Right now, we're just
hovering just above seven percent. We hit highs of eight

(05:37):
eight plus, So I believe that we're going to reducing
as we go. And if you're not muted, just mute
yourself please, just so if take a moment, mute yourself
just in case you have background noise. No problem, we're recording.
Don't want some embarrassing happening on your recording because I
will pull it, put it out everywhere, I'll put it
on all my social media. But as we're looking at

(05:59):
what's going on with the micro and macro economics of
real estate, I believe we're heading out of a downward cycle,
about a three year cycle. Real estate is cyclical, so
just naturally we see this uptick in real estate. We've
got cells that are at thirty year lows, fifty percent
off average, so I think we're going to see an

(06:20):
uptick in that area. Appreciation is somewhat stable. We're not
seeing a lot of depreciation. We're seeing stability because of
lack of inventory. Right if inventory madly spikes, then we'll
see some erosion and prices. Those naturally go together. But
because we're not seeing a big spike in listening, so
we're not seeing a big spike in inventory, we're not

(06:41):
seeing a big change in rates. All these things could
change very quickly. If the Feds, let's just say they
waved a wand and lowered the rates by one percent tomorrow,
it would crash the market, as in all of a sudden,
the buyers would come out of the woodwork. We'd have
multiple offers. Appreciation what happened short term because of all

(07:01):
these multiple offers and all these things going on. You'll
see these ridiculous hundred thousand dollars over asking price things again,
all because of that happening. So the FEDS look at
balancing those things both from an economic standpoint and also
not disrupting the housing market. Right. So that's why you
see rate suggesting somewhat slowly. They're checking what's going on,

(07:22):
what's the checks and balances of that action. So enough
about that. But that's kind of the overall view of this.
We'll get more granular as we progress, but I want
to lay this out of kind of what this looks like.
So there's two things that I want to look at
as we start this conversation. Number the state of the market,
which we just went over, and the next part is

(07:43):
the state of your business. Right Where is your business
right now? Now you don't have to raise your hand,
you don't have to speak, but I want you to
think of it from this perspective. Maybe you could rate
yourself in these areas that I look at in your
real estate business. So having a little fun with this.
Number One is your business A rowboat? Is your business?

(08:06):
A canoe? Is your business a patio boat, is your
business a speed boat, or is your business a cruise ship? Right,
So the cruise ship means that you've got a big team.
You've got a lot of things going on. Things are
You're going to fun places, things are happening in your business.

(08:26):
That's the highest level. And at the lowest level, you've
got a rowboat with one ore. Right, you're by yourself.
You've got a rowboat, you've got one ore, and you're
going in circles, right, and then when you get that
second or in the water, you start making some progress.
A canoe is just thinner, it's cutting through the water,
it's doing better. And then a patio boat you've got
some friends helping you. Maybe it's buyers agents, maybe it's

(08:49):
partners that you've partnered with, right. And then a speedboat
is just somebody going super fast, their foots on the gas,
pedal on the accelerator. They're cutting through the water and
they're doing great things in the real estate business, growing
by twenty thirty forty percent annually, right. And then the
cruise ship is the big operational team. So just for
a minute to yourself, think about where you are in

(09:09):
your real estate business and where you want to be.
I like this analogy rather than saying you're an agent
doing twelve transactions, I want to get to eighteen. Whatever
it may be. Now, everybody's a little different, everybody's got
a little different flavor of what they're trying to achieve. Right.
My thing from real estate from very day one was leverage.

(09:31):
I knew that leverage was the key to vote time
and potentially financial freedom. Right because if I created twenty
five referrals in a year, I get paid on those
without opening lock boxes and meeting with clients and putting
kids in the backseat, whatever it may be. Right, So,
as we look at our real estate business for twenty

(09:52):
twenty five, and if you haven't completed some form of
business plan, make sure you do that. There's a lot
of great recordings trainings on business plans from everything from
Shan Kakoska, Brent Gove, A lot of people have done
some business planning clinics. Plug in watch one of those
they're on YouTube. Find out what it is that you

(10:12):
want to achieve in your business. And then, obviously I'm
a huge advocate for coaching. Get yourself a coach. If
you can't a high. If you can't afford a coach,
get somebody, Get an accountability partner, somebody else that's like
minded like you, that's willing to say, hey, I'm willing
to do that as well. Right, I need some help
with this also, And then you know, when you evaluate

(10:37):
your business, then you could really be conscientious about what
you're going to achieve in your real estate business. If
you've got a goal of going from six transactions this
year to twelve next year, which is a nice one
hundred percent doubling your business goal, you've got to do
double the things that created you to get six transactions somehow, right,

(10:59):
you got to be vice is efficient, or you've got
to work on doubling your activities. The rubber hits the
road on belly to belly conversations and live conversations on
the phone. I'm a coach, so I'm just going to
hit you right in the mouth with that right now.
If you're not making multiple conversations a day in your

(11:22):
real estate business, your real estate business is slacking, dying,
slowing on life support, whatever it may be. People need
to hear from us. I'm going to give you a
text in a few minutes. I call the fire Text.
So stay tuned because this is really it is fire
and it's a one text that you could send out
to people that will get them engaged in finding out

(11:43):
if they're interested in looking at the value of their property.
And you can send it to everybody you know, and
it's made to be short and sweet. You'll love it.
I'm going to provide that to everybody here in a
few minutes in the chat. But as I look at
our businesses, I think with the changing of the market,
with the NAR settlements, with the changes of the buyer

(12:06):
broker agreements and how you operate from the buyer side
of the transaction. On the listing side, not much is change.
Actually there may be even some additional benefits on the
listing side. So I'm a big fan of listings first
right lead with listings in your real estate business. One
of the very first anale evaluations I do with people

(12:27):
is looking in their next or their last one, two, three,
five years of real estate, depending how long they've been
in and what's their balance of listing to buyers. An
average of everybody I look at is three to one
buyers to listings, so seventy five percent of their businesses
buyers twenty five percent listings, and as you see the
bell curve of somebody's career go from three to five

(12:48):
to seven to ten years, they start balancing out to
that fifty to fifty and if you look at a
top producer, there's seventy five to twenty five to the
other direction. They may have high level buyer agent departments
that are functioning, maybe doing a lot of transactions, but
they're focused. Their emphasis is on listings seventy five or
eighty percent of the time. Right. There's good reason for that,

(13:09):
but listing survival is really critical as we progress, specially
into this next market. If you have all buyers, it
is a tough market right now. It's a tough market
for a lot of reasons. Right, It's very competitive, but
you take what you can get, right. We can hope
for the best and design this perfect avatar for our

(13:29):
real estate business. But the bottom line is we're answering
the phone with who calls, right, So as we progress,
we want to be very purposeful about weaving in dedicated
time in your real estate business for listing activity, servicing listings,
servicing listing opportunities. That sounds to me like an outgoing

(13:50):
phone call that sounds to me like potentially an outgoing text,
like I'm going to share with you guys in a
few minutes. It looks to me like you're wrapping your
arms up around listing opportunities. Maybe it's a farm, geographical farm,
not horses, pigs and ducks, geographical farm. Right, that means
a subdivision of five hundred homes that you're proficient in.

(14:12):
Maybe you've sold a couple of houses in that area
and you become the digital mayor of that area. You
become the digital listing king or queen of that area.
Very simple to do, really, but it takes commitment on
your part. Right, So let's talk about that a little bit.
If you're going to be the listing king or queen
of a specific area, maybe it's where you live because

(14:34):
you're familiar with it. Maybe it's a place you sold
four or five homes. Let's call it Queens Subdivision. In
Queen Subdivision, you've sold three or four homes, you want
to take at least five hundred homes. Make sure you
write this down five hundred home minimum. It could be more.
But if it's a financial burden meaning postcards or something,

(14:55):
make sure you a lot for that. But five hundred homes,
you connect with them twice month. That's number two. Twice
a month frequency Number three, minimum of an eighteen month commitment.
It used to be a year, it's moved up now
minimum of an eighteen month commitment. So we have three
things so far. Five hundred homes, minimum of twice a month,

(15:18):
and a minimum commitment of eighteen months. I say that
because if it's a financial commitment, you've got to make
sure financially you can commit to that eighteen months or
you'll waste your money. You'll quit it seven eight nine
months right when it starts working. And then the last
component of this is in the mathematical sense, a six
percent turnover. That means that every five hundred homes thirty

(15:40):
will sell every year six percent turnover. If you follow
this formula may take you a little work to find
a title company to work with, to take and give
them five sections of five hundred homes, maybe around your town,
and find out which one's got the best turnover, the
best meaning the highest turnover. If you do that, that's

(16:03):
going to set you up for success. In twenty twenty five,
you should see ten to twenty percent of those particular listings,
and that five hundred homes being given to you. If
you do this correctly, that's three to six homes automatically
out of these thirty cells. Right, So math is the
key to this pathway here. You've got to make sure

(16:24):
you follow the math. So now now that we've got
the basis for that, and this is recording, you can
go back and listen to it. Now that we've got
the basis for this, and I stick my reputation as
a coach on this, this math will work if you
do this right. You could screw this up very easily,
but if you follow the basic system you will succeed. Right,

(16:46):
if you spend two thousand dollars a month doing this
automated and then you quit, that definitely won't work. If
you start skipping things because you don't have the time
to keep up with it, or you committed to door
knocking for one of the touches a month and then
you don't do it. All these things will disrupt this
model of mathematics. But if you can adopt this thing

(17:07):
I'm telling you a will work. We've tried to intrude
it through Tom Ferry and the organization. So now that
you have this vision of how you can mathematically put
this into place to get six to ten twelve listings
potentially over the next year in this subdivision, in this
area right now. You become the digital mayor of that area.
You focus your social media in that particular area. You

(17:32):
become the Queen Subdivision Queen or King. You start interviewing
the school superintendent of the school that's in that area,
start interviewing the police chief about that particular area's crime rate,
whatever it is. Become the expert of that area as
you're reaching out to them twice a month. By the way,
we'll do Q and A here in a few minutes.

(17:52):
But it could It could be a drop at the door,
a doorhannger, a flyer on the porch. It could be that.
It could be a phone. It could be a nice
post it. You know, these are some of the things
that we send out. It could be a nice big
postcard if you want to. It could be something you
printed yourself. It could be anything. It's a touch, It

(18:14):
could be a phone call, could be a door knock,
could be a combination of those things. Could be a
coat drive where you're reaching out to the sellers on purpose.
And talking about that will count as a touch in
your system. And now you put all this together Facebook page,
Queen subdivision, facebook page, start inviting everybody on purpose getting
the information from title. Right, this one thing can change

(18:37):
most agents' lives in their listing opportunity zone if they
do it. It just takes a discipline to do it
and focus on it every day. Right. And then now
you couple this with my favorite unsolicited cmas by the way,
that can be done within this system. You have the
opportunity to have all these homeowners names and phone numbers,

(18:57):
you're adding them to Facebook, You're doing all these things,
and then just have a simple conversation with them. And
we're going to teach you about on solicit cmas in the
future with language and things that will automatically get you
a five hundred percent ROI on talking to homeowners about
an on solicit CMA versus just trying to call them
and say, hey, see if you want to free CMA

(19:19):
and be happy to provide it for you. That just
is not going to work that often because you're soliciting. Right,
It's okay to solicit, but the language you use is
very powerful, all Right. And then the last thing I
want to give you is the fire text. I promised
it to you. I'm going to give it to you.
Let me text it to myself, so I have it
there and just second and then I'll share it on

(19:40):
the screen so you can copy and paste it. Fire text. Okay,
I'm going to grab it and put it into the chat.
The fire text is we did a study of this
with like hundreds of our coaching client and it works

(20:01):
so well. It was like kind of a mind blowing situation.
It's super simple, but it's my go to, especially when
you can incorporate something like happy New Year into it.
So let me see if I can get this in here. Okay,
there you go, copy and paste that. That's a fire text.
If it won't copy and paste, take a picture of it,

(20:21):
recreate it. I'm going to teach you how to put
it in your phone and send them out like this
in just a second. But think about this language, Hey, buddy,
that's obviously to a guy. You could change that to
say hey Bill, Hey Cindy, Hey Kelly, hey Malco. You
want to put their first name in it? All right,
and then just think about the language in this. Hey,

(20:45):
let's go, let me scoop my screen over a little bit.
Hey Alexandra, Happy New Year, and then you got a
little party face. Right. Hope you and the fam are well.
Abbreviate follow the script. Okay, I hope you and the
fam are well. The real estate market is bananas, bananas, bananas.
In case you haven't heard, prices have risen, rates are

(21:07):
coming down, and inventory is critically low this year. Curious
about the increased value of your home or other questions?
Question mark question mark. Just copy and paste this and
send it to everybody you know that owns a home,
and everybody you know that is in the real estate space,
or anybody that's in your database. This serves a couple purposes.

(21:28):
Number one, it's a touch. You're reaching out to your database,
but you're saying, hey, the real estate market is bananas,
which it is. And I love the fire text because
it gets immediate replies. You're going to get some to say,
oh no, Randy, thank you for that. I appreciate it.
We're not moving, or hey I am curious what my
home's value is, or hey, I do have a question.

(21:50):
You know, how are the houses in corvalis doing? Whatever
it may be. It's a really simple, easy way to
send a text to people. It is talking and asking
for business, but it's cash right. It's got the banana
emojiicons in there on purpose. It's condensing some of the

(22:10):
words like fam and stuff on purpose. We did this
with Bill Pipes and man did it kick But all right,
so this is still one of my favorite things that
saved in my phone is a fire text. All you
have to do is put do you know how to
save it in your settings? If you go to settings

(22:30):
and then on Apple at least go to keyboard text replacement,
and then you could save it as a text replacement.
So then you could just do an abbreviation like ft
one and it will populate that whole thing. You don't
have to retype it every time. If you don't know
how to do this, just YouTube text replacement on iPhone

(22:50):
or Android did to show you how to do it
and save it. Literally on my phone. All I have
to do is type those initials I type in my
phone fire text, and I hit inner and it goes bam.
Just like that. I have it saved as a keyboard shortcut,
all right, And then again if I'm doing it, and

(23:12):
I'm doing it to Jeff I would literally just do
the shortcut and then I'd add Jeff in there. Hi Jeff,
Happy New Year. Hope you and the fam are well,
right Coach Jeff up there in the top right. Do
you see how easy this could be? Now, imagine you
are going through your database of one hundred or two
hundred people, sending them the fire text and focusing on

(23:37):
the conversations that are coming from that. You'll get a
massive response rate to this as well. You might have
a lot of people thumb up or say I'm good
right now, but it's really really valuable. Okay. So that's
the content I had for today. I know we only
have a few minutes left. I want to honor everybody,
but I want to open up for any Q and
A you have any coaching questions. This is production based coaching,

(24:00):
so I'm open. And by the way, you can always
go to my coach Randy Bird, YouTube, Instagram, Facebook, all
the things and DM me. I'm very responsive, same day,
almost without question. Sometimes I'll get two three hundred texts
in a day, and those days take me a little
longer to catch up. New Year's we had eight hundred

(24:20):
texts that came in over a twenty four hour period.
We're blessed with that. But outside of those days, I'm
usually the same day. I'll get back to you. So
any questions, Q and A. I appreciate you all being
here today. Got a good group. We're going to do
this every week thirty minutes and we'll get into Like
I said, we'll get into market specifics, we'll get into

(24:42):
the topic of the day, coaching wise, and then today
I wanted to kind of give you a fast start
things that if I hit a brand new town, if
I landed in or in Colorado Springs, I'd never been
there before. This is exactly what I would do to
start my real estate career and get busy on doing
six to twelve transactions first year. Any questions, you could

(25:05):
raise your hand, you could take your mic off. Hey, Randy,
I just I just wanted to say thank you for
doing this. I always admired and respected you, and I'm
really looking forward to the weekly session. So thank you
for doing it for free pleasure, my pleasure, and thank

(25:26):
you for the kind words. I appreciate it. You know
we're going to appreciate it. Yeah, thank you. Kenny. Kenny
was a long time he was in my other group
for a couple of years. And listen, the market has
been a mother, right, the market's been a mother. I'm
half hood, half holy. I will cuss on these I

(25:46):
don't try to. I apologize, but I'll do my best
to limit it. But the market's been a bitch, and
so let's just acknowledge it for what it was. But
now's your opportunity. If it's kicked you in the teeth,
if it's been really tough, tough on you. For the
last couple of years, it's been tough on everybody, but
the market has turned. It's time to get out in
front of your people. It's time to get in front

(26:08):
of your database and say, I've been thinking about you.
I've been waiting to talk to you. I've been waiting
to call you because the market's been so wonky. It changed,
the market has changed. I want to talk to you
about what's going on. The market is changing, right, And
so the more that you educate them, the more that
you become the person that they're looking to for financial

(26:30):
and real estate advice. It doesn't matter if they have
another agent that they've known for fifteen years. That agent's
not calling them. That agent's not providing this value. If
you do this, you will take over as that agent.
They won't even remember the agent's name in six months.
This is just how this works. People. If you ask them, hey,
do you know real estate agent? They could stumble to
find one to two names to come out of their mouth,

(26:53):
and his first name only they do not say Jackie
mccleven's are person. She's the only person will use because
she's our agent. They might say that about Jackie, but
it's rare that they say that. You have to teach
them to say that. You have to teach them that
you are the resource for them in their real estate
business and their real estate investments. All right, everybody, I

(27:18):
appreciate you. I will see you next week. Reach out
to me on any of the socials if you need me.
I'm here for you. Be happy to support you, and
thank you everybody for showing up. Tell your friends, tell
like Johnny Depp says, tell the others. There will be rum.
All right, you guys, have a great day. Peace, have
a good one. Bye,