July 24, 2023 • 11 mins
Monday Morning Mojo 7/24/23
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Subscribe to our channel and turn on your notifications so you never miss a new video when it’s published: https://www.youtube.com/c/CoachRandyByrd For business and real estate coaching: https://www.randybyrd.tv/ ======================================================
Facebook: https://www.facebook.com/BYRDHOUSES/ Instagram: https://www.instagram.com/coachrandybyrd/ LinkedIn: https://www.linkedin.com/in/randy-byrd-517949a/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
Good Monday morning, Mojo. Itis Randy Byrd and how are you doing.
Man, I've got some things toreport this Monday, July twenty,
twenty twenty three. I'll start withthe good Reno golf tournament. I had
a golf tournament called Strokers. It'slike the seventeenth or eighteenth annual golf tournament
and Reno. It's my favorite thing. I've been totally practicing for a month.
(00:24):
I've been anticipating it. Excited,booked my plane tickets. I mean
it was just Kirsty book my planetickets. Everything was like, I was
so jazzed for this thing. Iflew in a day early, even changed
my plane ticket the last couple ofdays right before flew in Wednesday so I
can play Thursday and practice with allthe guys, kind of a Skins game.
Practice. Had seafood dinner, hadoysters and sushi that night, and
(00:49):
started gambling, playing poker that nightand felt little, little rough. So
I went to the room and reallydidn't leave until last night when I flew
home. I played golf Friday,I tried to play Saturday, I had
to leave and go to the er. Actually, I got vibrio from oysters,
go figure. I've always heard aboutrossy food and you see the warnings
(01:11):
and stuff, but I will neverhave another oyster in my life. I'm
sorry. If the oyster companies herethis and come after me, I'm telling
You'll never have another oyster in mylife. And man, I love oysters.
We just I have oysters probably twelvetimes a year at least. It's
one of my favorite things. Neverhappened again. I was close to death.
Man. They had to run allkinds of reports and tests and blood
(01:34):
and urine and stool and not goingto bore you with all the details and
grocy out, but a lot ofstuff. A full cat scanned with contrast
and found out that I had vibrioand then they were able to treat it
with ivannibotics and antibiotics I came homewith. So man, was that a
tough one. Though. It wasgreat to see my old friends though.
I saw Brett, one of mybuddies from Santa Rose, and a bunch
(01:56):
of other Gabe and It's boys,and just really an amazing, amazing time.
Didn't play very good golf obviously onFriday, because I was just killed
over and my team was amazing orbuying me gay raid, Like, we
got to take care of this guy. He's our horse, right, So
I wasn't the horse. I wasthe Shetland pony. Maybe not even that,
but pretty crazy golf, man.I got to lay in bed for
(02:20):
four days and watched golf. That'sliterally I didn't sleep at all for two
days. Just you know, I'ma boy of the details, but fetal
position two days Brian Harmon, Man, what an amazing, amazing win watching
that. Watched every single stroke inthat golf tournament because I had nowhere to
go and I love golf, butI've never watched four days of a full
(02:44):
tournament like that, and it waspretty good. Man. But have you
did you anybody watched that? Hiswaggles, his waggles, they're calling him
eleven, twelve, thirteen waggles everytime. That would drive me bizarre.
It'd make me crazy on so manydifferent levels. And if he was if
I was behind him in a foursome, I'd probably have to jump holes and
get ahead of that guy because itwould drive me crazy watching him wattle wattle.
(03:07):
But he won the thing, andgood for him. But man,
it was painful to even watch onTV. Sometimes but being behind him,
there's just no way. My personalitywould just I'd jump two holes and I'd
have to get out of there.But congratulations, well done this first major
win. That was pretty major.Real estate update. Let's just get all
around the horn on this stuff.Real estate update. The market's really still
(03:30):
hot. Low inventory rates are stillreally up there. You know, we're
under seven now, but it's stillthe rates are somewhere in that six seven
to five seven percent range. Buyershave kind of digested that six and six
and a half is normal for now, same as it was when I got
in the business twenty years ago.Twenty one years ago, they were at
six. So we've seen this bigcycle, but really six it was good
(03:53):
back then. But we'll see himcome down. It's gonna be a while.
Inventories would driving this. There's justno inventory and if it's priced,
riding goes fast. You're seeing multipleoffers, you're seeing all this stuff,
and quite honestly, it's going tocontinue until I think we get out of
this presidential election. Personally, ifthe Feds are talking the next couple of
(04:15):
days they're meeting again, they mayraise the rates. I personally don't believe
they will they do all be surprised, But I've been surprised five of their
times, so it wouldn't really surpriseme. Now what's going on with the
Biden economics, it is just whatit is. So they're trying to get
in front of inflation which is outof control, and you have the housing
in the middle. So I thinkwe stay the same for now, and
(04:36):
I think the market stays relatively thesame. A lot of people said we're
going to recession all these things lastOctober. It didn't happen. It's being
fueled by good job growth, andyou know, all these things are kind
of contributing, but nothing's having amassive impact on the housing. So inventory
staying low, prices are continued toincrease. We're seeing a little tiny decrease
(04:58):
in areas, and I mean fourfifty five to four fifty two, I
mean we're looking at like one tothree percent. Is the most significant decrease
I've seen in the markets that Irepresent, which were about thirteen markets.
So speaking of thirteen markets, I'malmost two a thousand agents now. I
have nine hundred and sixty one activeagents outs of today. We've been between
(05:20):
nine sixty nine seventy seven over thelast month or so, growing by about
twenty three agents in the last thirtydays so far. We were forty agents
last month. And I'm looking apartner with people. I don't put it
out there. You've if you've followedme for years, you notice I don't
solicit or ask for people to let'stalk about a business situation. But I'm
(05:41):
asking you now because I think thisis the best time to align with a
company like XP to look at thefuture, look at the future for being
a stock held company, and lookat the future of what's going on in
the real estate industry. It's consolidating. You're seeing commission compression both from the
sellers to the agent and from theagent to the brokers, so you're seeing
(06:01):
dual commission compression. You're seeing allthese lawsuits come up that I think they're
going to have teeth one MLS inthe nation already change the rules saying you
could put any amount of broker compensationfor the buyers in there that you want
to. That's opening the door forthis zero percent a broker commission, meaning
that somebody can put it on theMLS without offering any kind of commission,
(06:24):
just one dollar and it meets theirguidelines. Why I say this is because
there's so many changes in the industry. It's going to impact hundreds of thousands
of agents. I think we're goingto condense the industry from one point six
million as a high to We're alreadydown about sixty to eighty thousand agents this
year to date. I think we'llsee that being in the two and three
(06:45):
hundred thousand agent range in the nexttwelve months. So partnering with somebody like
US that has systems and supports andcoaching and mentalities and modalities and all these
things are valuable. So if you'rein real estate, shoot me a private
DM. Let's talk about the opportunities. At least keep me as a backup
offer. And if you're not inreal estate, get your license, get
(07:05):
your real estate license. There's goingto be tremendous opportunity ahead of you in
the future. I've got multiple teamshere in Corvallis, Albany, Oregon.
I've got a team Oregon Luxury Group. We have two teams in Northern California,
one in Sinnoma County, NAPA,and one in Reading and Expanding.
Just brought on a new partner inred Bluff brought in a new partner and
(07:27):
a boise, you know, justit's growing. But anyway, that's my
little shameless plug for the day.Let me give you some of my market
activities just so you can see what'sgoing on. Active listings seventy eight hundred
and seventy four up seven hundred eightytwo, so we're up ten percent in
active listings. That's good. Pendingcells thirty seven hundred and sixty eight that's
down seventy three, so we're downjust a little bit close. Cells thirty
(07:50):
four sixty up two hundred and sixtythree cells, so only about six or
seven percent up. Inventories sitting attwo point three months of inventory, which
is actually quite a bit inventory consideringthere's not much inventory. So there's there's
this pulling, tugging tug a warbetween buyers and sellers right now. Sellers
trying to maximize their value because there'sno inventory, and buyers going, hey,
(08:13):
the rates are high and the sellersout of whack a little bit.
So there is this common ground thatwe're seeing with that in our area,
the average sales prices five hundred andsixty thousand. Here in the Willamet Valley
of Oregon, and that's only offone thousand dollars from last year. Medium
sales price standing right at a halfa million dollars, fine hundred, and
that's actually up nine hundred dollars,So the medium sales price is increasing.
(08:37):
So what all this means is Mondaymorning, Mojoe. It means the housing
market is still strong. The housingmarket is, in my opinion, stable.
We have this balance of a housingmarket. You have a buyer's market
when there's over four months of inventory, and you have a seller's market when
there's less than and there's this bufferin the middle. You know, usually
(08:58):
I look at two months of inventoryis a good seller's market. When you
get two to four, it's kindof in that middle ground where we are
now. And then over four monthsof inventory is a buyer's market. And
I remember when we had sixteen eighteenmonths of inventory back in two thousand and
eight, nine to ten. Sothis is a really balanced market. But
it's a market of strategic skills andreally paying attention to what's happening out there.
(09:22):
You've got to be data tested,know your numbers, know your data.
You've got to have the tactics tobe able to put in offers in
this competitive market. If you're anagent that dabbles, If you're dabbling,
then you're trying to put an offerin every two, three, four months,
you're gonna get crushed. You're gonnaget crushed like us that are putting
in hundreds of offers potentially. Andyou know, we're up to what's going
(09:45):
on in the system, me anda coaching capacity. So when we look
at this, the structure of theseoffers could be important. If you're a
buyer, reach out to us ifwe can help you as well, because
the buyer strategy is as important asever if you're a buyer or in this
market and your agent's not really savvyand what's going on in this market and
understanding comps and understanding time on marketand understanding all this fluctuations of things,
(10:11):
and the lending piece of this.The lending pieces as valuable as ever right
meeting, the prequel, preapproval andall these processes, appraisal gaps, appraisal
removals, appraisal contingencies. There's alot of weird things going on in the
contracts right now because of this wonkymarket. You need a good, solid
person. And if you're looking atthis, look at us, look at
(10:31):
us to help you. We havereferral partners all over. We're in almost
thirty states now. So for instance, Buddy and mine needed something in North
Hollywood, Bam done. One ofmy teammates handled handled. We can handle
referrals in five minutes literally, Soagain, if you need anything, let
us know. It's real tour,Randy, Broker, bird, whatever you
(10:54):
want to call me. I don'tcare. I'm half hood, half Hooli.
It's all that matters. I'm feelingbetter. I got a little spunk
in my step today after coming fromnear death this weekend. Yesterday morning was
the first time I felt human aftertwenty four hours on the antibotics and day
two. Now you know how itis, after you've been on stuff for
two days, you feel like youcan conquer the world. I feel like
(11:15):
a million bucks, green and wrinkled. But anyway, I want to give
a shout out to my buddies Larryand Dennis that were my partners in golf,
that literally babied me along and gaveme gatorade and had me sitting in
the shade and just took care ofme crazy. I appreciate you guys.
If you see this, wow,I love you all right, man,
have a great Monday morning, Mojorock the week, and if you need
(11:37):
anything reach out. I'd love totalk to you whatever, man, And
if you love your company, staythere forever. It's cool man. We're
still friends, all right. Anyway, Peace, it's Randy Bird out for
now. But have a great Monday, great risk of the week. I'll
talk to you soon. Bye fornow.
Good Monday morning, Mojo. Itis Randy Byrd and how are you doing.
Man, I've got some things toreport this Monday, July twenty,
twenty twenty three. I'll start withthe good Reno golf tournament. I had
a golf tournament called Strokers. It'slike the seventeenth or eighteenth annual golf tournament
and Reno. It's my favorite thing. I've been totally practicing for a month.
(00:24):
I've been anticipating it. Excited,booked my plane tickets. I mean
it was just Kirsty book my planetickets. Everything was like, I was
so jazzed for this thing. Iflew in a day early, even changed
my plane ticket the last couple ofdays right before flew in Wednesday so I
can play Thursday and practice with allthe guys, kind of a Skins game.
Practice. Had seafood dinner, hadoysters and sushi that night, and
(00:49):
started gambling, playing poker that nightand felt little, little rough. So
I went to the room and reallydidn't leave until last night when I flew
home. I played golf Friday,I tried to play Saturday, I had
to leave and go to the er. Actually, I got vibrio from oysters,
go figure. I've always heard aboutrossy food and you see the warnings
(01:11):
and stuff, but I will neverhave another oyster in my life. I'm
sorry. If the oyster companies herethis and come after me, I'm telling
You'll never have another oyster in mylife. And man, I love oysters.
We just I have oysters probably twelvetimes a year at least. It's
one of my favorite things. Neverhappened again. I was close to death.
Man. They had to run allkinds of reports and tests and blood
(01:34):
and urine and stool and not goingto bore you with all the details and
grocy out, but a lot ofstuff. A full cat scanned with contrast
and found out that I had vibrioand then they were able to treat it
with ivannibotics and antibiotics I came homewith. So man, was that a
tough one. Though. It wasgreat to see my old friends though.
I saw Brett, one of mybuddies from Santa Rose, and a bunch
(01:56):
of other Gabe and It's boys,and just really an amazing, amazing time.
Didn't play very good golf obviously onFriday, because I was just killed
over and my team was amazing orbuying me gay raid, Like, we
got to take care of this guy. He's our horse, right, So
I wasn't the horse. I wasthe Shetland pony. Maybe not even that,
but pretty crazy golf, man.I got to lay in bed for
(02:20):
four days and watched golf. That'sliterally I didn't sleep at all for two
days. Just you know, I'ma boy of the details, but fetal
position two days Brian Harmon, Man, what an amazing, amazing win watching
that. Watched every single stroke inthat golf tournament because I had nowhere to
go and I love golf, butI've never watched four days of a full
(02:44):
tournament like that, and it waspretty good. Man. But have you
did you anybody watched that? Hiswaggles, his waggles, they're calling him
eleven, twelve, thirteen waggles everytime. That would drive me bizarre.
It'd make me crazy on so manydifferent levels. And if he was if
I was behind him in a foursome, I'd probably have to jump holes and
get ahead of that guy because itwould drive me crazy watching him wattle wattle.
(03:07):
But he won the thing, andgood for him. But man,
it was painful to even watch onTV. Sometimes but being behind him,
there's just no way. My personalitywould just I'd jump two holes and I'd
have to get out of there.But congratulations, well done this first major
win. That was pretty major.Real estate update. Let's just get all
around the horn on this stuff.Real estate update. The market's really still
(03:30):
hot. Low inventory rates are stillreally up there. You know, we're
under seven now, but it's stillthe rates are somewhere in that six seven
to five seven percent range. Buyershave kind of digested that six and six
and a half is normal for now, same as it was when I got
in the business twenty years ago.Twenty one years ago, they were at
six. So we've seen this bigcycle, but really six it was good
(03:53):
back then. But we'll see himcome down. It's gonna be a while.
Inventories would driving this. There's justno inventory and if it's priced,
riding goes fast. You're seeing multipleoffers, you're seeing all this stuff,
and quite honestly, it's going tocontinue until I think we get out of
this presidential election. Personally, ifthe Feds are talking the next couple of
(04:15):
days they're meeting again, they mayraise the rates. I personally don't believe
they will they do all be surprised, But I've been surprised five of their
times, so it wouldn't really surpriseme. Now what's going on with the
Biden economics, it is just whatit is. So they're trying to get
in front of inflation which is outof control, and you have the housing
in the middle. So I thinkwe stay the same for now, and
(04:36):
I think the market stays relatively thesame. A lot of people said we're
going to recession all these things lastOctober. It didn't happen. It's being
fueled by good job growth, andyou know, all these things are kind
of contributing, but nothing's having amassive impact on the housing. So inventory
staying low, prices are continued toincrease. We're seeing a little tiny decrease
(04:58):
in areas, and I mean fourfifty five to four fifty two, I
mean we're looking at like one tothree percent. Is the most significant decrease
I've seen in the markets that Irepresent, which were about thirteen markets.
So speaking of thirteen markets, I'malmost two a thousand agents now. I
have nine hundred and sixty one activeagents outs of today. We've been between
(05:20):
nine sixty nine seventy seven over thelast month or so, growing by about
twenty three agents in the last thirtydays so far. We were forty agents
last month. And I'm looking apartner with people. I don't put it
out there. You've if you've followedme for years, you notice I don't
solicit or ask for people to let'stalk about a business situation. But I'm
(05:41):
asking you now because I think thisis the best time to align with a
company like XP to look at thefuture, look at the future for being
a stock held company, and lookat the future of what's going on in
the real estate industry. It's consolidating. You're seeing commission compression both from the
sellers to the agent and from theagent to the brokers, so you're seeing
(06:01):
dual commission compression. You're seeing allthese lawsuits come up that I think they're
going to have teeth one MLS inthe nation already change the rules saying you
could put any amount of broker compensationfor the buyers in there that you want
to. That's opening the door forthis zero percent a broker commission, meaning
that somebody can put it on theMLS without offering any kind of commission,
(06:24):
just one dollar and it meets theirguidelines. Why I say this is because
there's so many changes in the industry. It's going to impact hundreds of thousands
of agents. I think we're goingto condense the industry from one point six
million as a high to We're alreadydown about sixty to eighty thousand agents this
year to date. I think we'llsee that being in the two and three
(06:45):
hundred thousand agent range in the nexttwelve months. So partnering with somebody like
US that has systems and supports andcoaching and mentalities and modalities and all these
things are valuable. So if you'rein real estate, shoot me a private
DM. Let's talk about the opportunities. At least keep me as a backup
offer. And if you're not inreal estate, get your license, get
(07:05):
your real estate license. There's goingto be tremendous opportunity ahead of you in
the future. I've got multiple teamshere in Corvallis, Albany, Oregon.
I've got a team Oregon Luxury Group. We have two teams in Northern California,
one in Sinnoma County, NAPA,and one in Reading and Expanding.
Just brought on a new partner inred Bluff brought in a new partner and
(07:27):
a boise, you know, justit's growing. But anyway, that's my
little shameless plug for the day.Let me give you some of my market
activities just so you can see what'sgoing on. Active listings seventy eight hundred
and seventy four up seven hundred eightytwo, so we're up ten percent in
active listings. That's good. Pendingcells thirty seven hundred and sixty eight that's
down seventy three, so we're downjust a little bit close. Cells thirty
(07:50):
four sixty up two hundred and sixtythree cells, so only about six or
seven percent up. Inventories sitting attwo point three months of inventory, which
is actually quite a bit inventory consideringthere's not much inventory. So there's there's
this pulling, tugging tug a warbetween buyers and sellers right now. Sellers
trying to maximize their value because there'sno inventory, and buyers going, hey,
(08:13):
the rates are high and the sellersout of whack a little bit.
So there is this common ground thatwe're seeing with that in our area,
the average sales prices five hundred andsixty thousand. Here in the Willamet Valley
of Oregon, and that's only offone thousand dollars from last year. Medium
sales price standing right at a halfa million dollars, fine hundred, and
that's actually up nine hundred dollars,So the medium sales price is increasing.
(08:37):
So what all this means is Mondaymorning, Mojoe. It means the housing
market is still strong. The housingmarket is, in my opinion, stable.
We have this balance of a housingmarket. You have a buyer's market
when there's over four months of inventory, and you have a seller's market when
there's less than and there's this bufferin the middle. You know, usually
(08:58):
I look at two months of inventoryis a good seller's market. When you
get two to four, it's kindof in that middle ground where we are
now. And then over four monthsof inventory is a buyer's market. And
I remember when we had sixteen eighteenmonths of inventory back in two thousand and
eight, nine to ten. Sothis is a really balanced market. But
it's a market of strategic skills andreally paying attention to what's happening out there.
(09:22):
You've got to be data tested,know your numbers, know your data.
You've got to have the tactics tobe able to put in offers in
this competitive market. If you're anagent that dabbles, If you're dabbling,
then you're trying to put an offerin every two, three, four months,
you're gonna get crushed. You're gonnaget crushed like us that are putting
in hundreds of offers potentially. Andyou know, we're up to what's going
(09:45):
on in the system, me anda coaching capacity. So when we look
at this, the structure of theseoffers could be important. If you're a
buyer, reach out to us ifwe can help you as well, because
the buyer strategy is as important asever if you're a buyer or in this
market and your agent's not really savvyand what's going on in this market and
understanding comps and understanding time on marketand understanding all this fluctuations of things,
(10:11):
and the lending piece of this.The lending pieces as valuable as ever right
meeting, the prequel, preapproval andall these processes, appraisal gaps, appraisal
removals, appraisal contingencies. There's alot of weird things going on in the
contracts right now because of this wonkymarket. You need a good, solid
person. And if you're looking atthis, look at us, look at
(10:31):
us to help you. We havereferral partners all over. We're in almost
thirty states now. So for instance, Buddy and mine needed something in North
Hollywood, Bam done. One ofmy teammates handled handled. We can handle
referrals in five minutes literally, Soagain, if you need anything, let
us know. It's real tour,Randy, Broker, bird, whatever you
(10:54):
want to call me. I don'tcare. I'm half hood, half Hooli.
It's all that matters. I'm feelingbetter. I got a little spunk
in my step today after coming fromnear death this weekend. Yesterday morning was
the first time I felt human aftertwenty four hours on the antibotics and day
two. Now you know how itis, after you've been on stuff for
two days, you feel like youcan conquer the world. I feel like
(11:15):
a million bucks, green and wrinkled. But anyway, I want to give
a shout out to my buddies Larryand Dennis that were my partners in golf,
that literally babied me along and gaveme gatorade and had me sitting in
the shade and just took care ofme crazy. I appreciate you guys.
If you see this, wow,I love you all right, man,
have a great Monday morning, Mojorock the week, and if you need
(11:37):
anything reach out. I'd love totalk to you whatever, man, And
if you love your company, staythere forever. It's cool man. We're
still friends, all right. Anyway, Peace, it's Randy Bird out for
now. But have a great Monday, great risk of the week. I'll
talk to you soon. Bye fornow.
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