Business Innovators Radio - Unveiling the Secrets of Real Estate Success: An Interview with Phil Dwyer of Windermere Real Estate

Starting point is 00:00:01 Welcome to Vegas Business Spotlight, the podcast that brings you the brightest minds and success stories from the bustling business scene in and around Las Vegas. Join us as we journey behind the neon lights and uncover the strategies, triumphs, and insights that shape the entrepreneurial landscape of the city of lights. From visionary startups to industry titans, get ready to be inspired by the stories of those who've turned dreams into reality on this iconic stage. And now, your host, Tim Nifton. Hello and welcome to another episode of Vegas Business Spotlight, sponsored by RSVP Las Vegas. I'm Tim Nifton, your host, and I'm thrilled to have you here with us today as we continue our journey through the vibrant world of Las Vegas entrepreneurship. Before we dive in today's conversation, I want to extend a warm welcome to our feature guests. Joining us today is Phil Dwyer with Windermere Real Estate.

Starting point is 00:01:03 We're honored to have you on our show today and have you share your experience, insights, and wisdom that you've gained from your remarkable journey of success. So without further ado, let's get right into it. Phil, welcome to the Vegas Business Spotlight. We're delighted to have you here. How are you doing today? Oh, awesome. Tim, thanks for having me on the show. Excited to have a chat.

Starting point is 00:01:24 Yeah, fantastic. Well, let's jump right into it and hear a little bit more about. you. So if you could just tell me what makes Windermere real estate and your brand important and special in Las Vegas? Well, we've been around since before I've been here. I've been up at our office now in the Anthem area since I think 2011. And I believe the office itself is all really close to it's 20th year in business, so it's pretty exciting. A lot of small businesses come and go, and we're still here. I've been through lots of crazy market turns and COVID and all that, and still chugging along. Yeah, that's great. So you mentioned Windermere's been around for 20 years.

Starting point is 00:02:14 Can you tell us a little bit about getting started with Windomere and why you chose to start your real estate business with Windomir? Sure. So Windermere, the franchise system is based out of Seattle, and they're a regional from Seattle, basically the south and west or southwest part of the country. I love the brand. They are really all about maximizing the experience for the consumer. And that just resonates with how I do things in my business, I really like to be more of a consultant than a salesperson. And it gives me the ability to align my thought processes with their brand. Yeah, perfect. So tell me a little bit more about Las Vegas real estate. Let's say I was walking in your office, coming in to buy a house. How do you kind of walk me through that process of consulting with me to identify what I need,

Starting point is 00:03:18 where I want to live, and, you know, what's, the best area for me in Las Vegas? You know, a lot of it comes down to lifestyle choices. A lot of the people that move here, move here for a lifestyle choice. You know, we have a high concentration of people that retire and live in Southern Nevada. And a lot of that is, you know, weather related. Some of it's financial. We have great tax structure here.

Starting point is 00:03:44 So really finding out the root cause of why someone wants to move here if they're moving here from out of state. And then what that looks like, how they plan on using the real estate that they're buying. Are they someone that enjoys entertaining? Or are they someone that enjoys the outdoors? How do they use the rooms in the house? It sounds kind of weird to think about things that way. But really diving into how someone lives their life often helps me find the perfect

Starting point is 00:04:17 house for them and what they're trying to accomplish. Wow, that's great. So tell me a little bit about getting started in real estate for you. Why did you pick this career and, you know, kind of why are you doing it still today? I actually started in the real estate space doing real estate appraisals and did that and started that in Detroit area, lived there for a few years. and learned that trade and then moved out here to Vegas about 17 years ago to start an appraisal firm. And that was right before the great financial crisis and the market dumping.

Starting point is 00:05:03 So we did a lot of appraisals for foreclosures and short sales and all that kind of stuff. And the regulations changed over a period of time. And what really came out of that for me was I'd like being a. able to talk to people and using that skill set to help them accomplish a goal. And as an appraiser, most of the time your clients are banks. So you're really, it's more of a business to business type of structure than where as a real estate agent, I get to actually work with a consumer and help them formulate a strategy. And to me, it's just more fun.

Starting point is 00:05:37 And it fits with my personality better. But the best part of it is, is I get to use those skills learned through appraising to actually help clients more than what I could have if I didn't do that before. And I think that's what's helped me stay doing it as long as I have as having something more to bring to the table to help clients make better financial decisions. You know, that's why people could keep coming back. Wow. Yeah, that's great. So let's say we had the time machine. We could go back in time and talk to young Phil Dwyer starting out his real estate business. What advice would you give yourself

Starting point is 00:06:14 if you could go back in time and provide, you know, some sage advice. And not be afraid to take risks. I guess when I was younger, I took more risks. But I think as people start to age, we become more risk-averse for whatever reason. And I would like to tell myself it's okay to take more risks. And even now, I mean, you know, you get in a protectionist mode, which is, is good. You have to do that on some level, but being nimble and taking shots, the only way you score is if you shoot. So I would say that's part of it. And then I think where my career really took off

Starting point is 00:06:58 on real estate is I was trying, I never was a great employee. I always wanted to do things my own way. And when I started being a real estate agent, I had to create my everything myself. It had to be something I thought of if I was going to do it. And one day, I like, you know, I, I couldn't break through a certain production level that I wanted. And so I decided, well, maybe I'll listen to what these other people are doing that are actually at where I want to be at. And I started modeling what I was doing after what they were doing. And once I opened my mind to that, things just took off. So I think for people starting out in any sort of industry, career, or business, is, you know, find the people that are doing what you want to do and doing it well and figure.

Starting point is 00:07:45 You know, if they can do it, you can do it. Those things are repeatable and figure out how to do some of the things that they're doing and model those things in your business. It'll go from there. Wow. Yeah, I agree with you 100%. You know, look for successful people and emulate them and you'll get that same success. I really love that.

Starting point is 00:08:09 So, you know, Vegas is quite a diverse and vibrant. market. So what kind of sets apart Las Vegas real estate versus other areas of the country? Well, we're kind of like it's interesting. I grew up in the Midwest in Wisconsin. And there you have, you know, a couple of big cities, but mostly all these small towns that are, you know, 10 minutes apart from each other. A lot of that was, you know, agricultural base. So wherever the feed mill was or wherever the dairy was or whatever, you got all these towns around that. Vegas is kind of interesting because it's sort of like an island. There isn't anything super close.

Starting point is 00:08:51 And the next biggest city in the state is eight or nine hour drive away, which is Reno. Yeah. So we, in that regards, it's a little different. And the other part that kind of really shapes our market is we have, you know, feeder states into our market. So a lot of people move from California to here. And that's been happening since well before I got here and it's going to continue to happen. There's such a concentration of people there.

Starting point is 00:09:23 And Vegas is an alternative for them for whatever reason. It may be less expensive. It may be better tax structure. It may be better climate, whatever. But that continued demand really drives a lot of what happens in our market. Yeah, perfect, perfect. So you mentioned, you know, business success and surviving. Have you guys made any pivots or major changes to your business recently to survive the changes in the market, the raising interest rates?

Starting point is 00:09:58 What are you doing now to pivot and be more successful? Well, you know, you have two choices, right? When things get tricky, you can retreat and do less. and wait for it to get better. Watching other people, I've noticed that the ones that actually ramp up during tricky times end up doing better because then when times are actually good, you already have a momentum going and you can really build off that. So personally, I'm ramping up marketing.

Starting point is 00:10:36 I'm ramping up getting on the phone more. I'm ramping up meeting with clients whenever I can or doing more. networking, making myself available, doing more of the same and just being consistent. You know, there's, there are multiple ways to be good at what you do and people are looking for the magic bullet. Really, I think you just need to pick one and then do it and be consistent with it. So in real estate, a lot of people might do cold calling or where they might do go walk around and knock on doors or they might send postcards.

Starting point is 00:11:13 or they might, you name it, there's a thousand different things. I love those. Work. Yeah. All of them work. Just like, you know, like with what you do, you know. If someone picks that and they just stay consistent with it, it's going to work. So I don't know if that answers your question, but that's all.

Starting point is 00:11:33 Yeah. Yeah. You know, do five things a thousand times instead of a thousand things five times, as Dr. Ivan Meisner says, complete right. Completely on money. Yeah. So in the world of business, there can be setbacks and things that slow you down. Is there any particular challenging moment that you would be willing to share and how you

Starting point is 00:11:56 overcame that obstacle? Well, I can think of a thousand little ones. I think making the choice to own up to making a mistake. and then figuring out how to fix it is probably the best thing you can do. And also, well, so sometimes you just have to make a decision. And maybe you don't have all the information, but you have to make a decision quickly. Otherwise, the stack on your desks of decisions just keeps piling up, right?

Starting point is 00:12:36 So you have to make those decisions and be okay with it. And then know that sometimes you're going to make the right. wrong one and that's okay the world's not going to end but often you know the sooner you deal with it the better yeah it's not making your mistake it's how you respond and fix what you've done when you've made a mistake and you know make the situation right you know whether that's a personal issue or as a company i agree with you 100 i'm with you you know what i've kind of learned too over the years that i have this personality where I think that I can figure out a way to help everybody either like me or solve their problem,

Starting point is 00:13:20 that I'll just figure it out, right? And in some ways, that opens a lot of doors because you're not afraid to tackle the problem. But it also, I think it creates problems that don't need to be there. So I've tried to be more focused the last few years of really knowing what types of clients are a good fit for what I, offer and you know what clients are going to prosper from working with me and then you know being okay with not being the solution for everybody absolutely and and really relishing in that and then the ones that you do help are going to have better service better results and everybody wins yeah figure out your value and benefits and you know target the people that received the most and you know you'll be very

Starting point is 00:14:08 very, very successful. So obviously, Vegas is changing. You know, the Oakland A's are coming, F1 Racin's going to be here this year. What's your particular personal vision for yourself in five to 10 years with the way Vegas is growing? Well, when I first moved here, there were cranes in the air everywhere and everybody felt invincible. And, you know, Vegas was just on fire, right? And so that's always in the back of my head because a year later it wasn't. But things seem much more robust now in terms of the offerings that the city has both in terms of entertainment, because we're definitely an entertainment town. But there's, you know, like you mentioned, we have all these different types of things now. It's not just in one lane.

Starting point is 00:15:02 And then industry in general seems to be more diversified. We still have a long way to go, but I like the fact. that, you know, we're attracting manufacturing to our town and our state. That seems to really help around stuff out. Health care is improving. We've got new hospitals that have been built and are being built all over the valley. So I think we're in a better spot. If there were an economic correction again, it feels to me like it wouldn't be the severe downturn here like it was the last time when I first moved here. Yeah.

Starting point is 00:15:42 And I'm sure, you know, Vegas is going to continue to grow and be healthy. And, you know, with all everything coming in, I really believe Vegas is, you know, definitely turned the corner and won't have any more COVID pandemic issues again. So, yeah. We just cross there, right? Yeah. Me too. Yeah.

Starting point is 00:16:02 So, you know, growing your business and getting the word out is important for all businesses. So I'm sure you do quite a bit of networking. Can you share some tips on how you're building meaningful connections with other Vegas business owners right now? Yeah, you know what? Sometimes a network that you want to be in maybe doesn't exist yet. And that's okay. That means you can go create it. So I've started different groups in the past to put people in the room together to share ideas and collaborate.

Starting point is 00:16:35 And if you go in with the mindset, of bringing value to the room. It's going to attract the right people. And those people in turn are going to help you grow your business. It's definitely a longer-term strategy than, you know, quick transactional strategy. But it will also last longer and you'll feel better about it. But I encourage people to do that. BNI is a cool organization to get involved with.

Starting point is 00:17:06 that's a networking group, but there are several different kinds out there. And with the technology platforms that are out there now with like meetup.com and stuff like that, you can find a group of people that have the same interests as you that have nothing to do with business, whether it's mountain biking, backpacking, wine tasting, whatever. Get out there and do those things because those people, if they like you and they know you and they find out what you do, they're going to end up sending business your way. and you don't even have to really promote yourself. It'll just happen organically.

Starting point is 00:17:42 Absolutely. And we can definitely plug our BNI Power Partners meeting at 7 a.m. This Thursday at Wild Horse Golf Club. You can check out the BNI website and find us at BNI, Las Vegas.com. Phil, is there any specific events or organizations that you would recommend somebody to start networking in Las Vegas? Well, you mentioned the best one. UNLV puts on some cool economic things a couple times a year if you're into the nerdy financial stuff like me. But there are things like rotary or other charitable organizations that you can get involved with.

Starting point is 00:18:28 Those are great places. if you're a real estate agent like me, getting involved with your local realtor association on some level is a great idea. They put on great content. And if you're a company that is a vendor for real estate agents, you know, getting involved there too is a great idea because you can go check out their stuff and learn a little bit of what makes their brain too. Those are a couple ideas.

Starting point is 00:19:02 Yeah, perfect. So I also know that you happen to be a bourbon connoisseur. So tell me a little bit about what bourbon you're drinking right now. Oh, I like, you know, I have a new flavor of the month. So I was just in Ireland and was drinking a lot of Irish whiskey when I was there. But I still like bourbon better, I think. So I like Old Forrester. The one that I think I was most recently drinking was the 1910.

Starting point is 00:19:37 That one's really good. You turned me on, and I can't remember the name of it, but that distillery from Texas, that stuff was really good. Yeah, absolutely. High Texas. Yeah. I was actually quite surprised. I was expecting to just have to lie to you and tell you that it was great.

Starting point is 00:19:53 but it was actually quite tasty. And my wife tried it and she actually liked it too. So, you know, it says something for how smooth it was. But even some of the lower end stuff is fine like four roses and things like that. I wouldn't call it lower end, but maybe mid-market or whatever. I don't know. I like those. You know, the best is just a couple cubes in the glass and some bourbon and sit on on the patio.

Starting point is 00:20:23 and maybe we need to do this next time you're in town is have a cigar while we do that, then it tastes even better. Yeah, absolutely. Absolutely. That's one thing I don't know much about. I know if a cigar tastes good, but I know nothing about them. So you'll have to bring me up to speed on that. Yeah, absolutely.

Starting point is 00:20:46 I'll bring some cigars out next time and we can do a little tasting. That'll be perfect. You bring the bourbon, I'll bring the cigars. that's a deal. All right. So is there any last parting information you would want to share with the Vegas business community on either working with Windemere real estate or getting into the real estate industry? Yeah, for new agents, I love to be a resource.

Starting point is 00:21:15 I'm not a real estate broker. I have a broker-salesperson license. But so I guess my pitch is just, I love to. talking about real estate and how to help people do better at it. So if you're an aspiring agent or an agent that's kind of just stuck in the muck and trying to figure out how to get better, I'm happy to meet up for a coffee or a beer or something. And then for people that want to do real estate or need help with real estate, whether it's investment or vacation homes or just a primary residence, anything residential related,

Starting point is 00:21:52 I'd be happy to help. Been doing it a long time and really like helping get people to where they want to be. Yeah. What's the best way to get hold of you, Phil? You can find me on LinkedIn. You can find me on Bigger Pockets, which is a real estate investor forum online. That's where I spend a lot of time. Or you can find me at Vegas digs.com is my own personal real estate website.

Starting point is 00:22:20 any of those I'm on. So happy to reach out and start a conversation. Yeah, that'd be great. Well, Phil, thank you so much for being on Vegas Business Spotlight. We're going to be signing off here. And we'll see everybody again next week. Thank you so much. Thanks again, Tim.

Starting point is 00:22:39 Have a great day. You too. Bye. Thank you for joining us on this episode of Vegas Business Spotlight. For more inspiring stories and insights from the Las Vegas business community, be sure to subscribe to our podcast on your favorite platform. And remember, you can catch new episodes each week at Vegas BusinessSpotlight.com, where we keep the spotlight shining bright on the entrepreneurs who make Las Vegas thrive.

Starting point is 00:23:04 And don't forget to like and subscribe. See you next week.

Business Innovators Radio - Unveiling the Secrets of Real Estate Success: An Interview with Phil Dwyer of Windermere Real Estate

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