January 14, 2025 • 34 mins
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Episode Transcript
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Speaker 1 (00:36):
All right, all right, all right, good afternoon. This is
Coach Bird and thank you for being here for the
pre production call we do every single week Tuesday, eleven
thirty am Pacific time. So thank you, thank you, thank
you for being here. Let me do a little housekeeping
and close my screens here and let's get ready to rumble.
So welcome, thank you for being here. And every week
(00:58):
we're going to be bringing you production only coaching things
that are going to move the needle in your real
estate business. Today you'll see on the board behind me,
I've got the plan for the day and we're going
to teach you how to build and scale your real
estate business. It's probably one of the most common questions
we get is how do we scale and build a
real estate business through the various steps of assistance and
(01:21):
leverage and different pieces. But before I get started, I
want to let you just understand that thank you for
being here. I'm coach Randy Byrd, I'm up here in Corvallis, Oregon,
and I am part of exp Reality and we do
free coaching every single week for everybody. It's broker Agnostics,
so you can invite anybody you want and it's all
about you and your production, nothing to do with companies
(01:45):
and attraction and all the different things. So with that said,
it's a free call, but nothing in life is free, right,
My only request is that you invite people to this call.
Let's grow this. We add over twenty two members on
last week, and so let's let this build. Let this
be something where you're pouring into other agents and we're
going to work at providing a lot of value for
(02:05):
you as we progress through this coaching production element. The
way I'm going to structure the calls, they are thirty
minutes and again they're free where we'll have some other
communities that are free as well to be part of
for the past recordings, the youtubes, all the things that
we do. And it's just that it's meant to be
a service of giving back and nothing more. But like
(02:29):
I said, tell others, let's get people in here and
let's help impact other people. When we look at real
estate specifically, and I'm gonna move my camera up a
little bit by the way. Structurally, we'll have probably fifteen
to twenty minutes of training and then we'll have Q
and A at the end.
Speaker 2 (02:47):
If there's no questions, we'll end it, and if you
have questions.
Speaker 1 (02:49):
I'll stay here as long as I can to answer
those questions and support you. But as we move up,
you'll notice that I've got my whiteboard up here like
a boss. Let's get it so I don't look like
whereas ellem a little bit there you go. So what
we're going to be doing today, and it's a little
bit of an angle, but you should be able to
understand and figure that out pretty easily. But we're going
(03:11):
to talk about what it is structuring.
Speaker 2 (03:13):
Your real estate business.
Speaker 1 (03:14):
And as you look at from an agent perspective, when
you start real estate, it's very common to have it
where you're everything, right, you're the CEO. Business card says,
so you're the president, you're the bottle washer, you're the cook,
you're the accountant, you're the bookkeeper, your everything, and that's
necessary in the beginning of your real estate journey. And
(03:35):
what I'm going to be talking about today is the line.
The line that you see on my board here. There's
a point in your business where you want to focus
on everything above the line and you want to leverage
the things below the line. And I like this illustration
very much. The goat, the Greatest All Team. Jean Frederick
showed me this on a napkin one day and I
(03:57):
was like, that's brilliant. I had that in my mind,
but this allowed me to break it down and understand
it in more of a visual sense. So when we
look at that, we're going to look at the first
box of you as an agent. What's the most important
thing that you do on a daily basis without exception,
should be calendared, should not be messed with, should not
(04:19):
be displaced, regardless of come list me, calls, what I'm
in town, whatever it may be. We want to really
focus on that first thing in your business being lead generation.
That's got to be the foundational big rock in your business.
You've heard the story where you take a five gallon bucket,
you have to fill it with rocks and smaller rocks
(04:39):
and then gravel and then sand, then water, and if
you start with anything but the big rocks, the big rocks.
Speaker 2 (04:45):
Won't put in it. That's the same thing for your
real estate business.
Speaker 1 (04:48):
And from twenty two years in the real estate business
now and coaching literally ten twenty thousand hours and real
estate production specifically with Tom Ferry for you, and now
on my own. This is the one thing that top
producers have carved out in their calendar, and it's the
one thing missing from the agents that have instability in
(05:10):
their business. Right. It's just that clear. If I talk
to somebody that's doing I say they have a decently
you know, real estate business six to ten days a year,
it's typically reactionary. They don't have purposeful prospecting, purposeful lead
generation in their business. They're taking what's coming along. They've
(05:30):
done a good job, they've created some referrals and some
other components of this, but it's really really important to
have forward facing, outgoing prospecting into your business lead generation.
When I talk to these agents, they're struggling to get
one hour a day of lead generation in their calendar.
And then I have two clients that do a thousand
(05:51):
transactions a year and one in Utah, one in Calgary, Canada,
and both of them, when I ask them the question,
they go, oh, yeah, I generate three hours a day
without exception, five days a week. Right, So that's the
staple of their business is lead generation. So let that
be informational to you and your business. If you're looking
(06:12):
at what your production is versus what the top producers
and the highest producers are doing right. So with that,
we're going to end on the lead generation component. I'm
happy to answer questions at the end. But when we
look at this lead generation, is that dollar producing activity
that is absolutely the agent's responsibility. This can't be leveraged
(06:32):
out to a VA that this is your responsibility. There
are ways to use automation and even VAS to give
you more conversations. But again, if I was looking at
your business from a coaching perspective and looking at your calendar,
I would say, make sure you're in a lead generation activity,
primarily in your real estate business. So let's go to
(06:55):
the next thing. Anybody have a question what maybe the
next one or an idea to yes, what the next
one is? If lead generation is one of the most
important things in your business that you need to do.
Speaker 2 (07:05):
As the agent, anybody you could chat it in, you
could speak it up. Chris, Yeah, I'm not sure.
Speaker 3 (07:17):
I'm not sure what it would be, honestly.
Speaker 1 (07:19):
Okay, that's all right, that's right. So I'm going to
share it with you. And it is really simply it's appointments.
It's servicing sellers, servicing buyers. That's the next thing that
you as an agent cannot leverage, right. It's possible to
leverage it with buyers, agents and listening specialists and things.
(07:40):
But for the nature of this conversation, I'm going to
talk to you about above the line activities and below
the activities. I think this will really help you in
understanding where you're at in your real estate business. It
doesn't matter if you're doing four deals or four hundred deals. Truly,
I could still show you where the balance of this
is deeply important. So when we talk about appointments, servicing
(08:00):
buyers and servicing sellers, appointments obviously could be in your
office servicing a seller or talking about listing opportunity. It
could be in the kitchen where you're having a listing
opportunity conversation with a buyer or or with a seller
in their house and you're reviewing that. It can also
be showing buyers. It could also be meeting with buyers,
(08:21):
talking about buyer representations, buyer expectations. All these are appointments
to me, but there are only two things, servicing sellers
and servicing buyers. There's an argument for leases and all
these things, but really, when you look at the big
rocks in your real estate business. Just remember lead generation
number one, which is creating appointments, so listing, servicing buyers,
(08:45):
servicing all things. As you grow your business instead of
servicing buyers, maybe that's what you do in the beginning
of your real estate career. Maybe that's an area we leverage.
Maybe that's an area we get buyers agents, or we
get showing specialists. We get different things, And I'm happy
to answer those questions as we progress from again this coaching.
Speaker 2 (09:04):
Perspective of it.
Speaker 1 (09:06):
But so we've got lead generation one to two hours
a day minimum. I think everybody on this call looking
at you should be two hours a day of lead generation,
and three hours a day is what your top performers
are doing. It doesn't go the other way. You think
somebody doing five hundred one thousand transactions a year they've
moved away from lee generation is actually the other way around. Right,
(09:28):
that's the lifeblood of keeping that team rolling. Okay, the
very next thing is negotiating contracts. Seems simple, but this
is an agent responsibility. Right, So you've got two hours
of lead generation a day, preferably nine to eleven AM.
That's the golden hour for lead generation.
Speaker 2 (09:47):
But it's up to you.
Speaker 1 (09:48):
I had in my career, I did nine to eleven
and then I did five to six thirty in the evening.
Because I missed all the people I missed during the day,
I would call them in the evening, go home, have
a big, have a cocktail, sit on the patio. I
lived on the golf course. I look forward to that
hour and a half of prospecting every evening and it
was my most productive time because people are home.
Speaker 2 (10:09):
Right.
Speaker 1 (10:10):
But again, you can look at your business what's important.
So above this line are the agent responsibilities. Whether you're
doing four deals, forty deals, four hundred deals.
Speaker 2 (10:18):
I believe this is true for all.
Speaker 1 (10:21):
So you have lead generation two hours a day, let's
just say that's nine to eleven, and then you have
a window that you're servicing buyers and servicing sellers. Now
this window could be from one to four in the afternoon,
like it is with most top producers that keep all
their morning activity to prospecting and team meetings, and then
they go out of the office after lunch and they
(10:42):
service buyers and sellers all afternoon. One of my buddies,
Josh Barker, does seven hundred and seventy transactions a year.
This is his schedule exactly, one to four meeting with
buyers and sellers, one hour appointments. He can meet with
three sellers a day. Right. He doesn't handle buyers anymore,
he's got a department for that. But very very high
level real estate brokers and teams are following this model
(11:05):
negotiating contracts. You may have junior people on your team.
You may have other people in your sphere of your
team building and your partnerships and different things, but this
is the primary requirement of a top producers negotiating contracts. Right,
even if you have a buyer's agent team that's helping
you showings and listings, negotiating the contract should be your
(11:29):
experience and should be your skill set. That's doing the.
Speaker 2 (11:33):
Best job with that.
Speaker 1 (11:35):
Right. So now what I want you to think about
is we progress and we start moving below the line?
Is what is going on with our sellers and our buyers,
our clients when we're talking to them about how we
run our business. Right, I could say, mister and missus
seller or buyer between nine and eleven, I'm unavailable every
day because I am calling for buyers and sellers for
(11:57):
you I'm negoing or I'm a I'm prospecting in my business.
Every single day, from nine to eleven, I will not
be available, and then from eleven to noon, I'm meeting
with my team. I'm going over systems and processes, reviewing
files for current escros. We're doing all those things right.
So I'm available from twelve to potentially five PM if
(12:20):
you need me. So I'm setting that expectation. But what's
also happening is with my clients. I'm letting them know
that I'm following a schedule like a professional. And then
now I'm introducing my team below the line, which is
really really important. I'm doing the lead generation. I'm moving
(12:41):
to appointments with buyers and sellers. I'm servicing listings and
servicing buyers. I'm doing all that work, and all that
front end communication is done by them. I might have
a license or a non licensed assistant that is communicating
with my people, but these are my jobs. This is
my role all the way through negoti contracts. Mister missus seller,
(13:02):
I am going to be available to you all the
way through negotiating the contract, and as soon as we
get that contract ratified, I'm going to push it to
my team, and you probably won't see any more of
me if my team is functioning operationally, I'm available for you.
But they're going to do a great job, and I'm
going to walk you through that. Right. So, now that
(13:23):
we've got to this point to where we get transactionally
into a ratified contract, the next thing we're going to
do is we're going to focus on inspections.
Speaker 2 (13:34):
Right.
Speaker 1 (13:34):
The inspections are a key part of this transitional agreement
with the buyers or sellers. Whether you're on the seller
or buyers side, you want somebody to manage inspections. Now,
that could be a live person that goes to every
one of your inspections. It could be relationships with your vendors.
But I'm not going to inspections because it's below the
(13:56):
line and I'm not trying to single out anybody. But
raise your hand if you still go to every inspection, right,
it's okay, it's not a bad thing. I'm just telling
you can't scale a real estate business if you are
focused on doing this now when you have a smaller
number of transactions annually.
Speaker 2 (14:15):
You want to provide the best service, maybe even save money.
Speaker 1 (14:19):
I get it, right, But I'd rather pay somebody fifty
bucks an hour to go sit at my inspections for
two hours, be able to answer any questions, relay them
to me so I know if they call me, it's
important they're on my inspection. That little window of time
I can offer as al above the line opportunity because
I'm negotiating something, I'm helping move something along. But I
(14:40):
don't need to be there for two to two and
a half hours for home inspect and a rough guy
to show up and all these other things. So leverage
the inspections below the line. If you look at this,
so this is staff right, agent above the line, staff
below the line. Now, I'm happy to break into some
details of how this happens, but try if you're going
(15:00):
to get into hundreds of transactions. This process is the
way that we scale teams to do it right. So
inspections could be everything from well and septic to home
inspections to pre inspections, you name it again. If there's
an inspection negotiation, what happens. It comes back above the
line and I take back over, right, But I don't
need to be there actually as a licensed general contractor.
(15:23):
There's actually a train of thought that this could be
damaging to myself and or my clients, me being a
general contractor there where I'm hiring inspectors to come and
say things because the client could say, Hey, ray To,
you're a general contractor, how come you didn't catch that?
We want to hire professionals for that, right. So that's
a little different for me. But I've always been in
(15:44):
the posture that I'm going to provide you the.
Speaker 2 (15:46):
Most amazing service.
Speaker 1 (15:48):
When we get to this point and I'm going to
introduce my team, you're going to meet Matt. Matt does
all my inspections. Matt is most agents don't show up
for inspections. He's going to sit there the whole time
that the inspector is there. He's gonna make sure that
we walk around after the inspection is done and have
the inspector explain all those things to us.
Speaker 2 (16:08):
Right, we're gonna do all those things.
Speaker 1 (16:10):
You're gonna love Matt. By the way, you see what
I did a transition from them expecting me to be
there to them expecting Mat to be there. And if
I use the language correctly, they're not wanting me there now.
They're like, you've got better things to do. Right, this
is where you deserve to be as a business owner.
But if I just say, hey, I'm not gonna be
able to make it to the inspection, you're gonna love
(16:32):
Phil Phil as our home inspector and our pest guy.
That is a fumble, right. So I think there's value
in having somebody at the inspection that is your part
of your party. But again, it can be leveraged very easy.
It could be leveraged to real estate agents, it could
be leveraged to assistance potentially. But having somebody there is
(16:52):
valuable and it is a customer service thing that I
really love. Okay, next, mortgage. Mortgage is a component. It's
a third party, but it's my responsibility as an agent
to make sure the mortgage is being done correctly.
Speaker 2 (17:09):
Right.
Speaker 1 (17:10):
But this is where I transition it to the buyers.
In this particular case, I'm gonna say, mister and missus buyer.
Speaker 2 (17:17):
Now it's your turn.
Speaker 1 (17:19):
You have an expectation to get all the documents to
the mortgage person on time. You have an expectation to
meet their deadlines. You have an expectation to meet with them.
I've got a relationship with Apex Mortgage or whoever it
may be that you're working with, and you can send
an expectation with them to make sure they talk to
them about not buying a couch, not buying a car,
(17:41):
making sure they not doing anything that's hurting their credit,
make sure they're getting the documents, getting in order of
the things that need to happen prior to that mortgage approval.
Right again, mortgage problem, appraisal problem moves back up to
the front.
Speaker 2 (17:57):
Of the line. That's where I take back over.
Speaker 1 (18:00):
But a good mortgage person should be communicating with you
and more importantly, letting them know the expectations they have
to be done as they're doing that the whole time.
By the way, I'm not in communication with the seller.
I use in my own business. Every Friday, I call
every seller and every buyer that we're in relationship with
(18:22):
and just check in every Friday. People are happier on Fridays.
You get ahead of things for the weekend. Right. Very
big aha for me and my business is when somebody said,
why are you call them on Mondays? They're all grumpy
on Mondays because y'all used to call every Monday after
the weekend and get them updates. Instead, I call them
on Friday, everybody's happy, everybody's optimistic about what's coming up.
(18:44):
If they go, hey, you know, I forgot to ask
you about the open house, you get ahead of things
for the weekend. And I just love checking in with
people on Fridays. Right. So now that's part of my
top line opportunity that I have to take care of
is contact and my clients week But beyond that, I'm
pushing the system that they're gonna They're not gonna hear
(19:04):
much from me minus me checking in on Friday. And
I'm going to say, our things going with the inspection,
were you happy with matt Our, things going with the lender,
things going well? Have you got them all the documentation?
Our close of escro date is now set for January
twenty six, whatever it may be. That's in the file
that I'm talking to him for five minutes, right, And
I'm again setting this expectation of what this flow looks like.
(19:27):
And now here's one of the most important ones for me.
It's clothes of escro. Right. I tell my clients this
is again you can run your business how you like to.
I tell my clients, mister missus seller, I will not
be a title because you're going to meet with the
title professionals. My staff is going to be a title
with you, just to make sure that there's nothing missing
(19:49):
in the file, anything we can do to support you.
That may be my license assistant and maybe another agent
that I particularly have go to closings, but it's not me.
Speaker 2 (19:59):
I do not get.
Speaker 1 (20:00):
Served well by sitting there for an hour and a
half while they sign all the documents. Right, But many ask, well,
I want to make sure that I'm there to help them.
I pop by, but at the end of it, right,
So I want to be the hero. I want to
show up at the end of it, but I don't
want to set the expectation I'm going to be there
for an hour and a half. I have an agent
(20:20):
that sells eighty homes a year, and she goes to
every single closing and sits there for the whole hour
and a half. And I said, you could sell one
hundred and sixty homes next year if you found a
way to carve out that eighty hours back into dollar
producing activity lead generation. And she just went, ah, I
never thought of it that way. I thought of it
that it's mandatory.
Speaker 2 (20:39):
It's not.
Speaker 1 (20:39):
There's ways to leverage everything below this line. So if
I set the expectation, if I go, hey, Mark, you're
getting taken care of by an amazing team that we've
got here. By the way, if you're doing only six
deals a year, you can still set this team up.
Speaker 2 (20:52):
Right.
Speaker 1 (20:52):
It's relationships and small amounts of compensation. It's not sharing
fifty to fifty commissions with people. Not what I'm talking about.
I'm talking about staying in the dollar producing activity on
the top of the line and leveraging everything below the line.
So in this particular case, I might say, Hey, Mark,
I'm not going to show up a title you're meeting
with the title reps. I've got my executive assistant. It's
(21:13):
going to be there with the file to make sure
they have any questions. We've already handled everything with the lender.
The docs are there. Everybody's doing their job along the way.
By the way, they're way better than I am because
they have the time to take and explain everything to
you with alternate setbacks and assessments, all kinds.
Speaker 2 (21:30):
That's their job, right, That's not my job.
Speaker 1 (21:32):
My job is helping you negotiate the contract getting the
most money for it. That's their job. But now if
they sign at eleven, I'm going to show up at
eleven thirty eleven forty five on purpose, little gift, a
little like pop by. Right, Hey, I didn't expect to
see you here. Hey, you're important to me. I'm in
the area. I wanted to stop by make sure everything's okay.
(21:52):
Is Sue taking care of you? Is Juliet first American
title taking care of you?
Speaker 2 (21:57):
Yes?
Speaker 1 (21:58):
I'm there for five minutes, kissing babies, shaking hands. I
leave and they're expressing, Wow, that's a great guy. I
didn't even expect him to come by. He cares about us, right,
instead of the other way around, where it's like I
don't go to any signings because I don't they're not
good enough or whatever the case is.
Speaker 2 (22:16):
You see the power of this.
Speaker 1 (22:17):
So now now your business is leverageable where you could
scale it from six to twelve to twenty five to
fifty to one hundred transactions without changing anything except maybe
the staff that you're using, the system you're using for
transaction coordination, and so on. Right by the way, there's
no transaction coordination in here. This is all part of
(22:38):
this process. A transaction coordinator is mandatory in my world,
it's mandatory and a production level. Even if you're doing
four deals of year, pay the four hundred bucks. Get
back to that activity because if you're not doing two
to three hours a day of that, your business is
going to hit a ceiling because you're trying to do
all this. Hopefully that makes sense to you, right, So
(23:01):
now close of escrow title pop by by me all
the systems and process if it worked along the way.
I'm communicating with them on Fridays to let them know
the flow of this, and I have the dates in
my file. Right My file always had a front page.
They had contract date, inspection end date, release, a contingency date,
(23:22):
lending removal date, closive escro date. It could be a
moving date dialogue. But that's the conversation I want to
be having with them, is the high level stuff so
I can maintain this. Okay, if I get ten buyers
and I start going to all the inspections, and god
forbid you get ten escros, that's awesome. But you've got
ten mortgage people you're talking to and ten inspections you're
(23:44):
going to, and you're trying to go to ten clothes
of escrows. What happens. Is your business looks like this.
That's your real estate business. You have no business at
the bottom right, So right here, you have no business.
You prospect, prospect, you get a bunch of es grows.
Then you service all those scrows all the way to
(24:05):
the bottom. They close, you get paid. That's awesome. But
then you have no business again. You start doing it
all again. And that's why most real estate businesses look
like this right because you're you're working because you're oat crap,
I don't have any business. So you start making calls,
you start stopping by seeing people, you start making prospecting happen.
Speaker 2 (24:23):
Then you get business and you.
Speaker 1 (24:24):
Stop that activity to service those I'm giving you the
keys to the kingdom today in my humble opinion of
how you can scale your real estate business just by
following this simple, low system. Okay, any questions on that,
any AHAs, any takeaways, any clarification you need, because again
(24:46):
this is for you and your business.
Speaker 3 (24:50):
I really like it. I appreciate that it seems like
a pretty straightforward you know, as a new agent, well
not super new, but not doing a lot of business.
It really shows me you know how to put yourself
above because Yeah, it's hard to scale and to be
driving everywhere and doing all that kind of stuff while
you're trying to do the rest of your business. So yeah,
definitely open some like a light bulb for me. Appreciate it.
Speaker 2 (25:13):
Good good, good good.
Speaker 1 (25:14):
And Chris, you know, if you could be so bold,
how many hours of prospecting are you doing today?
Speaker 2 (25:19):
Be honest?
Speaker 1 (25:21):
Uh?
Speaker 3 (25:21):
Well, to be honest, I kind of reinvigorated myself after
the holidays here, so for the you know, for the
last two weeks, I've been doing about two hours a day,
you know, for you So my big thing is, uh,
you know, and I'm sure there's a lot of agents,
is you know, you know, where to get the phone
numbers and how to dial and all that kind of stuff.
So yeah, you know, picked up property radar and I'm
(25:41):
doing some mailing right now and then you know, I'll
start with the phone calls.
Speaker 1 (25:46):
You love well, so let me coach you a little bit, Chris,
if you don't mind, Okay, that's why I ask we
get back right. So Number one, easy to find numbers.
You could do a circle farm. A lot of companies
Chicago First America and they have what's called a farm
like a geographical farm, not thousand pigs. But what happens
is you can circle a neighborhood. Let's just say it's
(26:08):
riverbend neighborhoods five hundred, one thousand homes. They can get
all the owner data for you, so you have phone members, emails, addresses,
phone numbers, the whole thing, right, And you can get
this for about eight cents per contact, So one thousand
people eighty dollars, right, and then you'll have a thousand
people that you can market to and be talking to
on purpose. Social media is a big opportunity for lead generation,
(26:30):
talking about what's going on in the market, talk about housings, up,
housings down, highlight listings. People are watching social media eyeball wise.
But if you want to lead with prospecting, i'd call expired.
They're a tough call to make for a lot of agents,
but those are the people that are already on the market.
But I think the low hanging fruit is two things
for sale by.
Speaker 2 (26:51):
Owners really really need you.
Speaker 1 (26:53):
You just have to perfect your language with them and
come from a place of value and unsolicited CMAS comparative
market analysis. If you went into that thousand home neighborhood,
and had a language conversation with all the homeowners of saying, hey,
I've already done a report for you, not do you
mind if I do a free CMA.
Speaker 2 (27:12):
They're going to say no, they didn't ask for it.
Speaker 1 (27:14):
But if you say, hey, I know you didn't ask
for it, but I've already done a free CMA as
on your house as part of a broader CMA in
these thousand homes, which you can do in five minutes
and then talk with integrity. Right right, you're gonna have
a four to one benefit over that getting that CMA
in their hands.
Speaker 3 (27:33):
Great, Yeah, that's awesome.
Speaker 1 (27:34):
It wasn't.
Speaker 3 (27:35):
I didn't realize the title give you phone numbers as well,
so that's great.
Speaker 1 (27:37):
Yes, they will that. It's about eight cents per contact,
and there's other companies that will do it as well,
everything for Mojo Dialer to Oulkan seven. But the Title
will do it for you for free, and that's really
what they're there for. And like Active Farm is what
Chicago Titles uses. It's great and it will give you
who's expected to leave, how long they've been there, the
(27:58):
demographics of the area.
Speaker 2 (27:59):
There's a lot of.
Speaker 1 (28:00):
Things you can do for free, and so one thing
you said, Chris, is you have sweat equity or check equity. Right,
postcards are check equity. Door knocking flyers drops business cards
with a rubber band around the doorknob.
Speaker 2 (28:14):
That's all sweat equity.
Speaker 1 (28:16):
I would start with sweat equity until you can afford
check equity, and then your business where you lose money
by being in the field, it's what you want, right,
You lose money by going in door knocking. That's when
you leverage it out to check equity and you start
writing checks for mailers and postcards to go out every
two weeks.
Speaker 2 (28:34):
Gotchaa, great, good question.
Speaker 1 (28:37):
Appreciate it anybody else As we kind of wrap up
the call today, By the way, I'm here every single week.
Next week we're talking on AI, how to put AI
into your real estate business and have it actually go
into your business immediately.
Speaker 2 (28:50):
So I'm going to give you.
Speaker 1 (28:51):
Tools and tactics with AI that you could actually use
on the call and watch it work and then take
that away so you're not being overwhelmed about where to
start with how to put AI.
Speaker 2 (29:01):
Into your business.
Speaker 1 (29:02):
Because I'm gonna make a bold statement, if you don't
adopt AI into your business, you're gonna be working for
an agent that did.
Speaker 2 (29:10):
Quick question.
Speaker 1 (29:11):
Yeah, in relation to farming, it's something my wife and
I have started playing around with. Yes, I'm in an extremely.
Speaker 3 (29:19):
Rural area of North Carolina, So don't have five hundred
home situations.
Speaker 2 (29:25):
Thousand homes. Look at a one hundred, maybe one hundred
and fifty if I'm lucky.
Speaker 3 (29:31):
Yeah, So I'm trying to figure out how to make.
Speaker 2 (29:36):
How to make it actually worth my while.
Speaker 1 (29:39):
So you do have a tough situation. So there's a
couple there's a couple of checkpoints you want to have
in farming that are really really important. Number one five
hundred homes minimum. I'll talk about that, but number one
five hundred homes minimum minimum turnover six percent in those
five hundred homes. And then a minimum of twice a
(29:59):
month communication. It could be a series of postcards, door knocks, flyers,
phone calls, whatever, but you need to connect with them
twice a month. And the last component is eighteen months.
So all those things need to happen to be a
successful farm. In my opinion from years and years of
coaching and doing all these surveys with Tom Ferry. Now
with that said, if you're very rural very different. You're
(30:22):
becoming more of a brand awareness than you are looking
for that turnover because you're not going to find it likely.
So now you want to find pockets of one hundred
and fifty homes, and you do want to keep in
that five hundred number, right, because mathematically you need all
those homes to produce enough sales every year to make this.
Speaker 2 (30:39):
ROI have value.
Speaker 1 (30:41):
Okay. Now, if you have nothing to do and you're
walking door to door and all that stuff, then it's
trading time for money, It's okay. But if you're really
looking to scale this and to make it where you
become dominant in that farm, which is the ultimate goal,
then you have to have that twice a month frequency
minimum eighteen months. Now it used to be a year,
but it takes longer now for you to become top
of mind with them. Understood, Thank you, my pleasure. All right,
(31:06):
one more question then we're going to wrap up for
the day. We'll be back tomorrow. Anybody have anything else
before we wrap? I have a question. Yes, Hi, my
name is Gunfried. I'm a very new agent, very fresh.
So I guess my question was more for like the
social media aspect of it. So let's say, if you're starting.
Speaker 3 (31:29):
From square one, what would you like do social media
wise to like put yourself out there.
Speaker 2 (31:35):
Great question, write this down.
Speaker 1 (31:39):
Number One, frequency you have to post every single day,
even if you don't think it's got a lot of value, right,
maybe even three times a day in the beginning, because
you don't know when they're going to see it. Number
two is pick a area that you could become the
expert in in your area. That could be a subdivision,
it could be a city. You don't want to make
(32:01):
it so broad that like you're the realtor of Dallas,
that's too big. You want to pick a subdivision, a territory,
a golf course, community, something that you're going to be
the expert in, and then really focus on that with
your social media interview the superintendent of schools in that area,
interview the police chief post, the crime rate post, the
housing turnover post. If anybody's doing garage sales or things
(32:24):
for the community, really be the source for them and
a social media capacity. Once you accomplish that, then I
would focus on a Facebook page that's geared towards that
particular community, and then be purposeful about inviting everybody in the.
Speaker 2 (32:40):
Community to that Facebook page.
Speaker 1 (32:42):
You could do that through title, just like I just explained, right,
and then you want to be adding value. You want
to be making sure you're being a real estate agent
in social media. Hey, today we're at one two three
Banana Street. I'm showing you this is a three bedroom,
two bath, seventeen hundred square foot boards up to the
open base of the mccolomney River whatever. And average sales
(33:04):
price in this area is going for about two hundred
and sixteen dollars a care foot, average time in the
market running about forty five days. And if you have
any real estate questions, make sure you reach out to
me go pre I am the local expert and we
do updates every single week. Right, So something along those
lines and social media will be very valuable to your
(33:24):
real estate career. Okay, thank you, yeah, one hundred percent. Well,
thank you everybody for being here. I've got another call.
I got to jump to you, but we're here every
single week. Again, it's coach Randy Bird. Thank you for
being here. You can go to all my sites Birdhouse
dot Team, b Y R D H O U S
E Dot Team as well as you know you can
find me coach, Randy Bird, and any of the social medias.
(33:47):
Thank you, Thanks Alexandra and everybody else that's here. Thanks
for your great questions. I'll be here every week. Invite
your friends, Invite people from all companies you can tell.
Speaker 2 (33:57):
We don't.
Speaker 1 (33:58):
It's broker agnostic. We're not talking about companies. We're talking
about tools and systems and things to increase your production.
So I appreciate it. Look forward to being here again
next week, and I'll talk to you soon. Thanks for
being here, have a great day.
Speaker 2 (34:11):
Bye for now.
All right, all right, all right, good afternoon. This is
Coach Bird and thank you for being here for the
pre production call we do every single week Tuesday, eleven
thirty am Pacific time. So thank you, thank you, thank
you for being here. Let me do a little housekeeping
and close my screens here and let's get ready to rumble.
So welcome, thank you for being here. And every week
(00:58):
we're going to be bringing you production only coaching things
that are going to move the needle in your real
estate business. Today you'll see on the board behind me,
I've got the plan for the day and we're going
to teach you how to build and scale your real
estate business. It's probably one of the most common questions
we get is how do we scale and build a
real estate business through the various steps of assistance and
(01:21):
leverage and different pieces. But before I get started, I
want to let you just understand that thank you for
being here. I'm coach Randy Byrd, I'm up here in Corvallis, Oregon,
and I am part of exp Reality and we do
free coaching every single week for everybody. It's broker Agnostics,
so you can invite anybody you want and it's all
about you and your production, nothing to do with companies
(01:45):
and attraction and all the different things. So with that said,
it's a free call, but nothing in life is free, right,
My only request is that you invite people to this call.
Let's grow this. We add over twenty two members on
last week, and so let's let this build. Let this
be something where you're pouring into other agents and we're
going to work at providing a lot of value for
(02:05):
you as we progress through this coaching production element. The
way I'm going to structure the calls, they are thirty
minutes and again they're free where we'll have some other
communities that are free as well to be part of
for the past recordings, the youtubes, all the things that
we do. And it's just that it's meant to be
a service of giving back and nothing more. But like
(02:29):
I said, tell others, let's get people in here and
let's help impact other people. When we look at real
estate specifically, and I'm gonna move my camera up a
little bit by the way. Structurally, we'll have probably fifteen
to twenty minutes of training and then we'll have Q
and A at the end.
Speaker 2 (02:47):
If there's no questions, we'll end it, and if you
have questions.
Speaker 1 (02:49):
I'll stay here as long as I can to answer
those questions and support you. But as we move up,
you'll notice that I've got my whiteboard up here like
a boss. Let's get it so I don't look like
whereas ellem a little bit there you go. So what
we're going to be doing today, and it's a little
bit of an angle, but you should be able to
understand and figure that out pretty easily. But we're going
(03:11):
to talk about what it is structuring.
Speaker 2 (03:13):
Your real estate business.
Speaker 1 (03:14):
And as you look at from an agent perspective, when
you start real estate, it's very common to have it
where you're everything, right, you're the CEO. Business card says,
so you're the president, you're the bottle washer, you're the cook,
you're the accountant, you're the bookkeeper, your everything, and that's
necessary in the beginning of your real estate journey. And
(03:35):
what I'm going to be talking about today is the line.
The line that you see on my board here. There's
a point in your business where you want to focus
on everything above the line and you want to leverage
the things below the line. And I like this illustration
very much. The goat, the Greatest All Team. Jean Frederick
showed me this on a napkin one day and I
(03:57):
was like, that's brilliant. I had that in my mind,
but this allowed me to break it down and understand
it in more of a visual sense. So when we
look at that, we're going to look at the first
box of you as an agent. What's the most important
thing that you do on a daily basis without exception,
should be calendared, should not be messed with, should not
(04:19):
be displaced, regardless of come list me, calls, what I'm
in town, whatever it may be. We want to really
focus on that first thing in your business being lead generation.
That's got to be the foundational big rock in your business.
You've heard the story where you take a five gallon bucket,
you have to fill it with rocks and smaller rocks
(04:39):
and then gravel and then sand, then water, and if
you start with anything but the big rocks, the big rocks.
Speaker 2 (04:45):
Won't put in it. That's the same thing for your
real estate business.
Speaker 1 (04:48):
And from twenty two years in the real estate business
now and coaching literally ten twenty thousand hours and real
estate production specifically with Tom Ferry for you, and now
on my own. This is the one thing that top
producers have carved out in their calendar, and it's the
one thing missing from the agents that have instability in
(05:10):
their business. Right. It's just that clear. If I talk
to somebody that's doing I say they have a decently
you know, real estate business six to ten days a year,
it's typically reactionary. They don't have purposeful prospecting, purposeful lead
generation in their business. They're taking what's coming along. They've
(05:30):
done a good job, they've created some referrals and some
other components of this, but it's really really important to
have forward facing, outgoing prospecting into your business lead generation.
When I talk to these agents, they're struggling to get
one hour a day of lead generation in their calendar.
And then I have two clients that do a thousand
(05:51):
transactions a year and one in Utah, one in Calgary, Canada,
and both of them, when I ask them the question,
they go, oh, yeah, I generate three hours a day
without exception, five days a week. Right, So that's the
staple of their business is lead generation. So let that
be informational to you and your business. If you're looking
(06:12):
at what your production is versus what the top producers
and the highest producers are doing right. So with that,
we're going to end on the lead generation component. I'm
happy to answer questions at the end. But when we
look at this lead generation, is that dollar producing activity
that is absolutely the agent's responsibility. This can't be leveraged
(06:32):
out to a VA that this is your responsibility. There
are ways to use automation and even VAS to give
you more conversations. But again, if I was looking at
your business from a coaching perspective and looking at your calendar,
I would say, make sure you're in a lead generation activity,
primarily in your real estate business. So let's go to
(06:55):
the next thing. Anybody have a question what maybe the
next one or an idea to yes, what the next
one is? If lead generation is one of the most
important things in your business that you need to do.
Speaker 2 (07:05):
As the agent, anybody you could chat it in, you
could speak it up. Chris, Yeah, I'm not sure.
Speaker 3 (07:17):
I'm not sure what it would be, honestly.
Speaker 1 (07:19):
Okay, that's all right, that's right. So I'm going to
share it with you. And it is really simply it's appointments.
It's servicing sellers, servicing buyers. That's the next thing that
you as an agent cannot leverage, right. It's possible to
leverage it with buyers, agents and listening specialists and things.
(07:40):
But for the nature of this conversation, I'm going to
talk to you about above the line activities and below
the activities. I think this will really help you in
understanding where you're at in your real estate business. It
doesn't matter if you're doing four deals or four hundred deals. Truly,
I could still show you where the balance of this
is deeply important. So when we talk about appointments, servicing
(08:00):
buyers and servicing sellers, appointments obviously could be in your
office servicing a seller or talking about listing opportunity. It
could be in the kitchen where you're having a listing
opportunity conversation with a buyer or or with a seller
in their house and you're reviewing that. It can also
be showing buyers. It could also be meeting with buyers,
(08:21):
talking about buyer representations, buyer expectations. All these are appointments
to me, but there are only two things, servicing sellers
and servicing buyers. There's an argument for leases and all
these things, but really, when you look at the big
rocks in your real estate business. Just remember lead generation
number one, which is creating appointments, so listing, servicing buyers,
(08:45):
servicing all things. As you grow your business instead of
servicing buyers, maybe that's what you do in the beginning
of your real estate career. Maybe that's an area we leverage.
Maybe that's an area we get buyers agents, or we
get showing specialists. We get different things, And I'm happy
to answer those questions as we progress from again this coaching.
Speaker 2 (09:04):
Perspective of it.
Speaker 1 (09:06):
But so we've got lead generation one to two hours
a day minimum. I think everybody on this call looking
at you should be two hours a day of lead generation,
and three hours a day is what your top performers
are doing. It doesn't go the other way. You think
somebody doing five hundred one thousand transactions a year they've
moved away from lee generation is actually the other way around. Right,
(09:28):
that's the lifeblood of keeping that team rolling. Okay, the
very next thing is negotiating contracts. Seems simple, but this
is an agent responsibility. Right, So you've got two hours
of lead generation a day, preferably nine to eleven AM.
That's the golden hour for lead generation.
Speaker 2 (09:47):
But it's up to you.
Speaker 1 (09:48):
I had in my career, I did nine to eleven
and then I did five to six thirty in the evening.
Because I missed all the people I missed during the day,
I would call them in the evening, go home, have
a big, have a cocktail, sit on the patio. I
lived on the golf course. I look forward to that
hour and a half of prospecting every evening and it
was my most productive time because people are home.
Speaker 2 (10:09):
Right.
Speaker 1 (10:10):
But again, you can look at your business what's important.
So above this line are the agent responsibilities. Whether you're
doing four deals, forty deals, four hundred deals.
Speaker 2 (10:18):
I believe this is true for all.
Speaker 1 (10:21):
So you have lead generation two hours a day, let's
just say that's nine to eleven, and then you have
a window that you're servicing buyers and servicing sellers. Now
this window could be from one to four in the afternoon,
like it is with most top producers that keep all
their morning activity to prospecting and team meetings, and then
they go out of the office after lunch and they
(10:42):
service buyers and sellers all afternoon. One of my buddies,
Josh Barker, does seven hundred and seventy transactions a year.
This is his schedule exactly, one to four meeting with
buyers and sellers, one hour appointments. He can meet with
three sellers a day. Right. He doesn't handle buyers anymore,
he's got a department for that. But very very high
level real estate brokers and teams are following this model
(11:05):
negotiating contracts. You may have junior people on your team.
You may have other people in your sphere of your
team building and your partnerships and different things, but this
is the primary requirement of a top producers negotiating contracts. Right,
even if you have a buyer's agent team that's helping
you showings and listings, negotiating the contract should be your
(11:29):
experience and should be your skill set. That's doing the.
Speaker 2 (11:33):
Best job with that.
Speaker 1 (11:35):
Right. So now what I want you to think about
is we progress and we start moving below the line?
Is what is going on with our sellers and our buyers,
our clients when we're talking to them about how we
run our business. Right, I could say, mister and missus
seller or buyer between nine and eleven, I'm unavailable every
day because I am calling for buyers and sellers for
(11:57):
you I'm negoing or I'm a I'm prospecting in my business.
Every single day, from nine to eleven, I will not
be available, and then from eleven to noon, I'm meeting
with my team. I'm going over systems and processes, reviewing
files for current escros. We're doing all those things right.
So I'm available from twelve to potentially five PM if
(12:20):
you need me. So I'm setting that expectation. But what's
also happening is with my clients. I'm letting them know
that I'm following a schedule like a professional. And then
now I'm introducing my team below the line, which is
really really important. I'm doing the lead generation. I'm moving
(12:41):
to appointments with buyers and sellers. I'm servicing listings and
servicing buyers. I'm doing all that work, and all that
front end communication is done by them. I might have
a license or a non licensed assistant that is communicating
with my people, but these are my jobs. This is
my role all the way through negoti contracts. Mister missus seller,
(13:02):
I am going to be available to you all the
way through negotiating the contract, and as soon as we
get that contract ratified, I'm going to push it to
my team, and you probably won't see any more of
me if my team is functioning operationally, I'm available for you.
But they're going to do a great job, and I'm
going to walk you through that. Right. So, now that
(13:23):
we've got to this point to where we get transactionally
into a ratified contract, the next thing we're going to
do is we're going to focus on inspections.
Speaker 2 (13:34):
Right.
Speaker 1 (13:34):
The inspections are a key part of this transitional agreement
with the buyers or sellers. Whether you're on the seller
or buyers side, you want somebody to manage inspections. Now,
that could be a live person that goes to every
one of your inspections. It could be relationships with your vendors.
But I'm not going to inspections because it's below the
(13:56):
line and I'm not trying to single out anybody. But
raise your hand if you still go to every inspection, right,
it's okay, it's not a bad thing. I'm just telling
you can't scale a real estate business if you are
focused on doing this now when you have a smaller
number of transactions annually.
Speaker 2 (14:15):
You want to provide the best service, maybe even save money.
Speaker 1 (14:19):
I get it, right, But I'd rather pay somebody fifty
bucks an hour to go sit at my inspections for
two hours, be able to answer any questions, relay them
to me so I know if they call me, it's
important they're on my inspection. That little window of time
I can offer as al above the line opportunity because
I'm negotiating something, I'm helping move something along. But I
(14:40):
don't need to be there for two to two and
a half hours for home inspect and a rough guy
to show up and all these other things. So leverage
the inspections below the line. If you look at this,
so this is staff right, agent above the line, staff
below the line. Now, I'm happy to break into some
details of how this happens, but try if you're going
(15:00):
to get into hundreds of transactions. This process is the
way that we scale teams to do it right. So
inspections could be everything from well and septic to home
inspections to pre inspections, you name it again. If there's
an inspection negotiation, what happens. It comes back above the
line and I take back over, right, But I don't
need to be there actually as a licensed general contractor.
(15:23):
There's actually a train of thought that this could be
damaging to myself and or my clients, me being a
general contractor there where I'm hiring inspectors to come and
say things because the client could say, Hey, ray To,
you're a general contractor, how come you didn't catch that?
We want to hire professionals for that, right. So that's
a little different for me. But I've always been in
(15:44):
the posture that I'm going to provide you the.
Speaker 2 (15:46):
Most amazing service.
Speaker 1 (15:48):
When we get to this point and I'm going to
introduce my team, you're going to meet Matt. Matt does
all my inspections. Matt is most agents don't show up
for inspections. He's going to sit there the whole time
that the inspector is there. He's gonna make sure that
we walk around after the inspection is done and have
the inspector explain all those things to us.
Speaker 2 (16:08):
Right, we're gonna do all those things.
Speaker 1 (16:10):
You're gonna love Matt. By the way, you see what
I did a transition from them expecting me to be
there to them expecting Mat to be there. And if
I use the language correctly, they're not wanting me there now.
They're like, you've got better things to do. Right, this
is where you deserve to be as a business owner.
But if I just say, hey, I'm not gonna be
able to make it to the inspection, you're gonna love
(16:32):
Phil Phil as our home inspector and our pest guy.
That is a fumble, right. So I think there's value
in having somebody at the inspection that is your part
of your party. But again, it can be leveraged very easy.
It could be leveraged to real estate agents, it could
be leveraged to assistance potentially. But having somebody there is
(16:52):
valuable and it is a customer service thing that I
really love. Okay, next, mortgage. Mortgage is a component. It's
a third party, but it's my responsibility as an agent
to make sure the mortgage is being done correctly.
Speaker 2 (17:09):
Right.
Speaker 1 (17:10):
But this is where I transition it to the buyers.
In this particular case, I'm gonna say, mister and missus buyer.
Speaker 2 (17:17):
Now it's your turn.
Speaker 1 (17:19):
You have an expectation to get all the documents to
the mortgage person on time. You have an expectation to
meet their deadlines. You have an expectation to meet with them.
I've got a relationship with Apex Mortgage or whoever it
may be that you're working with, and you can send
an expectation with them to make sure they talk to
them about not buying a couch, not buying a car,
(17:41):
making sure they not doing anything that's hurting their credit,
make sure they're getting the documents, getting in order of
the things that need to happen prior to that mortgage approval.
Right again, mortgage problem, appraisal problem moves back up to
the front.
Speaker 2 (17:57):
Of the line. That's where I take back over.
Speaker 1 (18:00):
But a good mortgage person should be communicating with you
and more importantly, letting them know the expectations they have
to be done as they're doing that the whole time.
By the way, I'm not in communication with the seller.
I use in my own business. Every Friday, I call
every seller and every buyer that we're in relationship with
(18:22):
and just check in every Friday. People are happier on Fridays.
You get ahead of things for the weekend. Right. Very
big aha for me and my business is when somebody said,
why are you call them on Mondays? They're all grumpy
on Mondays because y'all used to call every Monday after
the weekend and get them updates. Instead, I call them
on Friday, everybody's happy, everybody's optimistic about what's coming up.
(18:44):
If they go, hey, you know, I forgot to ask
you about the open house, you get ahead of things
for the weekend. And I just love checking in with
people on Fridays. Right. So now that's part of my
top line opportunity that I have to take care of
is contact and my clients week But beyond that, I'm
pushing the system that they're gonna They're not gonna hear
(19:04):
much from me minus me checking in on Friday. And
I'm going to say, our things going with the inspection,
were you happy with matt Our, things going with the lender,
things going well? Have you got them all the documentation?
Our close of escro date is now set for January
twenty six, whatever it may be. That's in the file
that I'm talking to him for five minutes, right, And
I'm again setting this expectation of what this flow looks like.
(19:27):
And now here's one of the most important ones for me.
It's clothes of escro. Right. I tell my clients this
is again you can run your business how you like to.
I tell my clients, mister missus seller, I will not
be a title because you're going to meet with the
title professionals. My staff is going to be a title
with you, just to make sure that there's nothing missing
(19:49):
in the file, anything we can do to support you.
That may be my license assistant and maybe another agent
that I particularly have go to closings, but it's not me.
Speaker 2 (19:59):
I do not get.
Speaker 1 (20:00):
Served well by sitting there for an hour and a
half while they sign all the documents. Right, But many ask, well,
I want to make sure that I'm there to help them.
I pop by, but at the end of it, right,
So I want to be the hero. I want to
show up at the end of it, but I don't
want to set the expectation I'm going to be there
for an hour and a half. I have an agent
(20:20):
that sells eighty homes a year, and she goes to
every single closing and sits there for the whole hour
and a half. And I said, you could sell one
hundred and sixty homes next year if you found a
way to carve out that eighty hours back into dollar
producing activity lead generation. And she just went, ah, I
never thought of it that way. I thought of it
that it's mandatory.
Speaker 2 (20:39):
It's not.
Speaker 1 (20:39):
There's ways to leverage everything below this line. So if
I set the expectation, if I go, hey, Mark, you're
getting taken care of by an amazing team that we've
got here. By the way, if you're doing only six
deals a year, you can still set this team up.
Speaker 2 (20:52):
Right.
Speaker 1 (20:52):
It's relationships and small amounts of compensation. It's not sharing
fifty to fifty commissions with people. Not what I'm talking about.
I'm talking about staying in the dollar producing activity on
the top of the line and leveraging everything below the line.
So in this particular case, I might say, Hey, Mark,
I'm not going to show up a title you're meeting
with the title reps. I've got my executive assistant. It's
(21:13):
going to be there with the file to make sure
they have any questions. We've already handled everything with the lender.
The docs are there. Everybody's doing their job along the way.
By the way, they're way better than I am because
they have the time to take and explain everything to
you with alternate setbacks and assessments, all kinds.
Speaker 2 (21:30):
That's their job, right, That's not my job.
Speaker 1 (21:32):
My job is helping you negotiate the contract getting the
most money for it. That's their job. But now if
they sign at eleven, I'm going to show up at
eleven thirty eleven forty five on purpose, little gift, a
little like pop by. Right, Hey, I didn't expect to
see you here. Hey, you're important to me. I'm in
the area. I wanted to stop by make sure everything's okay.
(21:52):
Is Sue taking care of you? Is Juliet first American
title taking care of you?
Speaker 2 (21:57):
Yes?
Speaker 1 (21:58):
I'm there for five minutes, kissing babies, shaking hands. I
leave and they're expressing, Wow, that's a great guy. I
didn't even expect him to come by. He cares about us, right,
instead of the other way around, where it's like I
don't go to any signings because I don't they're not
good enough or whatever the case is.
Speaker 2 (22:16):
You see the power of this.
Speaker 1 (22:17):
So now now your business is leverageable where you could
scale it from six to twelve to twenty five to
fifty to one hundred transactions without changing anything except maybe
the staff that you're using, the system you're using for
transaction coordination, and so on. Right by the way, there's
no transaction coordination in here. This is all part of
(22:38):
this process. A transaction coordinator is mandatory in my world,
it's mandatory and a production level. Even if you're doing
four deals of year, pay the four hundred bucks. Get
back to that activity because if you're not doing two
to three hours a day of that, your business is
going to hit a ceiling because you're trying to do
all this. Hopefully that makes sense to you, right, So
(23:01):
now close of escrow title pop by by me all
the systems and process if it worked along the way.
I'm communicating with them on Fridays to let them know
the flow of this, and I have the dates in
my file. Right My file always had a front page.
They had contract date, inspection end date, release, a contingency date,
(23:22):
lending removal date, closive escro date. It could be a
moving date dialogue. But that's the conversation I want to
be having with them, is the high level stuff so
I can maintain this. Okay, if I get ten buyers
and I start going to all the inspections, and god
forbid you get ten escros, that's awesome. But you've got
ten mortgage people you're talking to and ten inspections you're
(23:44):
going to, and you're trying to go to ten clothes
of escrows. What happens. Is your business looks like this.
That's your real estate business. You have no business at
the bottom right, So right here, you have no business.
You prospect, prospect, you get a bunch of es grows.
Then you service all those scrows all the way to
(24:05):
the bottom. They close, you get paid. That's awesome. But
then you have no business again. You start doing it
all again. And that's why most real estate businesses look
like this right because you're you're working because you're oat crap,
I don't have any business. So you start making calls,
you start stopping by seeing people, you start making prospecting happen.
Speaker 2 (24:23):
Then you get business and you.
Speaker 1 (24:24):
Stop that activity to service those I'm giving you the
keys to the kingdom today in my humble opinion of
how you can scale your real estate business just by
following this simple, low system. Okay, any questions on that,
any AHAs, any takeaways, any clarification you need, because again
(24:46):
this is for you and your business.
Speaker 3 (24:50):
I really like it. I appreciate that it seems like
a pretty straightforward you know, as a new agent, well
not super new, but not doing a lot of business.
It really shows me you know how to put yourself
above because Yeah, it's hard to scale and to be
driving everywhere and doing all that kind of stuff while
you're trying to do the rest of your business. So yeah,
definitely open some like a light bulb for me. Appreciate it.
Speaker 2 (25:13):
Good good, good good.
Speaker 1 (25:14):
And Chris, you know, if you could be so bold,
how many hours of prospecting are you doing today?
Speaker 2 (25:19):
Be honest?
Speaker 1 (25:21):
Uh?
Speaker 3 (25:21):
Well, to be honest, I kind of reinvigorated myself after
the holidays here, so for the you know, for the
last two weeks, I've been doing about two hours a day,
you know, for you So my big thing is, uh,
you know, and I'm sure there's a lot of agents,
is you know, you know, where to get the phone
numbers and how to dial and all that kind of stuff.
So yeah, you know, picked up property radar and I'm
(25:41):
doing some mailing right now and then you know, I'll
start with the phone calls.
Speaker 1 (25:46):
You love well, so let me coach you a little bit, Chris,
if you don't mind, Okay, that's why I ask we
get back right. So Number one, easy to find numbers.
You could do a circle farm. A lot of companies
Chicago First America and they have what's called a farm
like a geographical farm, not thousand pigs. But what happens
is you can circle a neighborhood. Let's just say it's
(26:08):
riverbend neighborhoods five hundred, one thousand homes. They can get
all the owner data for you, so you have phone members, emails, addresses,
phone numbers, the whole thing, right, And you can get
this for about eight cents per contact, So one thousand
people eighty dollars, right, and then you'll have a thousand
people that you can market to and be talking to
on purpose. Social media is a big opportunity for lead generation,
(26:30):
talking about what's going on in the market, talk about housings, up,
housings down, highlight listings. People are watching social media eyeball wise.
But if you want to lead with prospecting, i'd call expired.
They're a tough call to make for a lot of agents,
but those are the people that are already on the market.
But I think the low hanging fruit is two things
for sale by.
Speaker 2 (26:51):
Owners really really need you.
Speaker 1 (26:53):
You just have to perfect your language with them and
come from a place of value and unsolicited CMAS comparative
market analysis. If you went into that thousand home neighborhood,
and had a language conversation with all the homeowners of saying, hey,
I've already done a report for you, not do you
mind if I do a free CMA.
Speaker 2 (27:12):
They're going to say no, they didn't ask for it.
Speaker 1 (27:14):
But if you say, hey, I know you didn't ask
for it, but I've already done a free CMA as
on your house as part of a broader CMA in
these thousand homes, which you can do in five minutes
and then talk with integrity. Right right, you're gonna have
a four to one benefit over that getting that CMA
in their hands.
Speaker 3 (27:33):
Great, Yeah, that's awesome.
Speaker 1 (27:34):
It wasn't.
Speaker 3 (27:35):
I didn't realize the title give you phone numbers as well,
so that's great.
Speaker 1 (27:37):
Yes, they will that. It's about eight cents per contact,
and there's other companies that will do it as well,
everything for Mojo Dialer to Oulkan seven. But the Title
will do it for you for free, and that's really
what they're there for. And like Active Farm is what
Chicago Titles uses. It's great and it will give you
who's expected to leave, how long they've been there, the
(27:58):
demographics of the area.
Speaker 2 (27:59):
There's a lot of.
Speaker 1 (28:00):
Things you can do for free, and so one thing
you said, Chris, is you have sweat equity or check equity. Right,
postcards are check equity. Door knocking flyers drops business cards
with a rubber band around the doorknob.
Speaker 2 (28:14):
That's all sweat equity.
Speaker 1 (28:16):
I would start with sweat equity until you can afford
check equity, and then your business where you lose money
by being in the field, it's what you want, right,
You lose money by going in door knocking. That's when
you leverage it out to check equity and you start
writing checks for mailers and postcards to go out every
two weeks.
Speaker 2 (28:34):
Gotchaa, great, good question.
Speaker 1 (28:37):
Appreciate it anybody else As we kind of wrap up
the call today, By the way, I'm here every single week.
Next week we're talking on AI, how to put AI
into your real estate business and have it actually go
into your business immediately.
Speaker 2 (28:50):
So I'm going to give you.
Speaker 1 (28:51):
Tools and tactics with AI that you could actually use
on the call and watch it work and then take
that away so you're not being overwhelmed about where to
start with how to put AI.
Speaker 2 (29:01):
Into your business.
Speaker 1 (29:02):
Because I'm gonna make a bold statement, if you don't
adopt AI into your business, you're gonna be working for
an agent that did.
Speaker 2 (29:10):
Quick question.
Speaker 1 (29:11):
Yeah, in relation to farming, it's something my wife and
I have started playing around with. Yes, I'm in an extremely.
Speaker 3 (29:19):
Rural area of North Carolina, So don't have five hundred
home situations.
Speaker 2 (29:25):
Thousand homes. Look at a one hundred, maybe one hundred
and fifty if I'm lucky.
Speaker 3 (29:31):
Yeah, So I'm trying to figure out how to make.
Speaker 2 (29:36):
How to make it actually worth my while.
Speaker 1 (29:39):
So you do have a tough situation. So there's a
couple there's a couple of checkpoints you want to have
in farming that are really really important. Number one five
hundred homes minimum. I'll talk about that, but number one
five hundred homes minimum minimum turnover six percent in those
five hundred homes. And then a minimum of twice a
(29:59):
month communication. It could be a series of postcards, door knocks, flyers,
phone calls, whatever, but you need to connect with them
twice a month. And the last component is eighteen months.
So all those things need to happen to be a
successful farm. In my opinion from years and years of
coaching and doing all these surveys with Tom Ferry. Now
with that said, if you're very rural very different. You're
(30:22):
becoming more of a brand awareness than you are looking
for that turnover because you're not going to find it likely.
So now you want to find pockets of one hundred
and fifty homes, and you do want to keep in
that five hundred number, right, because mathematically you need all
those homes to produce enough sales every year to make this.
Speaker 2 (30:39):
ROI have value.
Speaker 1 (30:41):
Okay. Now, if you have nothing to do and you're
walking door to door and all that stuff, then it's
trading time for money, It's okay. But if you're really
looking to scale this and to make it where you
become dominant in that farm, which is the ultimate goal,
then you have to have that twice a month frequency
minimum eighteen months. Now it used to be a year,
but it takes longer now for you to become top
of mind with them. Understood, Thank you, my pleasure. All right,
(31:06):
one more question then we're going to wrap up for
the day. We'll be back tomorrow. Anybody have anything else
before we wrap? I have a question. Yes, Hi, my
name is Gunfried. I'm a very new agent, very fresh.
So I guess my question was more for like the
social media aspect of it. So let's say, if you're starting.
Speaker 3 (31:29):
From square one, what would you like do social media
wise to like put yourself out there.
Speaker 2 (31:35):
Great question, write this down.
Speaker 1 (31:39):
Number One, frequency you have to post every single day,
even if you don't think it's got a lot of value, right,
maybe even three times a day in the beginning, because
you don't know when they're going to see it. Number
two is pick a area that you could become the
expert in in your area. That could be a subdivision,
it could be a city. You don't want to make
(32:01):
it so broad that like you're the realtor of Dallas,
that's too big. You want to pick a subdivision, a territory,
a golf course, community, something that you're going to be
the expert in, and then really focus on that with
your social media interview the superintendent of schools in that area,
interview the police chief post, the crime rate post, the
housing turnover post. If anybody's doing garage sales or things
(32:24):
for the community, really be the source for them and
a social media capacity. Once you accomplish that, then I
would focus on a Facebook page that's geared towards that
particular community, and then be purposeful about inviting everybody in the.
Speaker 2 (32:40):
Community to that Facebook page.
Speaker 1 (32:42):
You could do that through title, just like I just explained, right,
and then you want to be adding value. You want
to be making sure you're being a real estate agent
in social media. Hey, today we're at one two three
Banana Street. I'm showing you this is a three bedroom,
two bath, seventeen hundred square foot boards up to the
open base of the mccolomney River whatever. And average sales
(33:04):
price in this area is going for about two hundred
and sixteen dollars a care foot, average time in the
market running about forty five days. And if you have
any real estate questions, make sure you reach out to
me go pre I am the local expert and we
do updates every single week. Right, So something along those
lines and social media will be very valuable to your
(33:24):
real estate career. Okay, thank you, yeah, one hundred percent. Well,
thank you everybody for being here. I've got another call.
I got to jump to you, but we're here every
single week. Again, it's coach Randy Bird. Thank you for
being here. You can go to all my sites Birdhouse
dot Team, b Y R D H O U S
E Dot Team as well as you know you can
find me coach, Randy Bird, and any of the social medias.
(33:47):
Thank you, Thanks Alexandra and everybody else that's here. Thanks
for your great questions. I'll be here every week. Invite
your friends, Invite people from all companies you can tell.
Speaker 2 (33:57):
We don't.
Speaker 1 (33:58):
It's broker agnostic. We're not talking about companies. We're talking
about tools and systems and things to increase your production.
So I appreciate it. Look forward to being here again
next week, and I'll talk to you soon. Thanks for
being here, have a great day.
Speaker 2 (34:11):
Bye for now.
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