KGCI: Real Estate on Air - Are You the Chosen Agent or Just a Chump? The Truth Every Realtor Needs to Hear!

Episode Date: March 6, 2025

Well, I'm very excited to announce our next speaker. My goodness, this person is an unbelievable accomplishment in the space of real estate. He has been happily married for my goodness over 35 years with his amazing life partner, Jolene. They have three adult children that are very successful within their own rights. And he's created tremendous wealth for people through investment in real estate. And he sold my goodness over, I don't even know how many thousands of, you know, how many thousands of homes. We're talking four or five thousand. I'm not even sure. Even more than that 6,000, more than that 8,000 properties over his career. He's an unbelievable go-giver. He's an unbelievable leader and mentored thousands of agents around the world.

Put your hands together, folks for Randy Dick. Thank you, Phil. Yeah, my pleasure. Good to see you, buddy. Break a leg. Thank you. Well, welcome here, everyone. I am going to present something to you today that, frankly, I think you're going to struggle with what I share. What I'm going to share goes against everything that you know as a real estate agent. It is not going to be intuitive to your mind, to your thinking, to the way that you do business. Chosen or Chump. Let me start out with a story. Major League Baseball.

the best of the best Thai cobs his batting average was 360 never ever been beaten in over 100 years imagine that a record for over a century and nobody's been able to break that record

if you're batting 300 you're the best of the best in the big leagues yet what do we do in real estate we say we got to go on every appointment we got to go at every bat because the possibility is greater than the probability i say no we need to know what the probability is of that appointment that you're going to be going on think about that possibility versus probability see steve jobs

had it right back in the 90s when he said why do we have all of this apple product Most of it doesn't make money. Most of it is just dragging us down. So today, over 50%, in fact, 52% of their entire revenue comes from what? The iPhone. They simplified it. They said we need to be better at being strategic in what we do. Are you being strategic in your business of real estate?

What I want you. to understand is you want to hear these two words. That's right. That's right. This is what you want to hear from your clients. That's right. And I'll get into it in a bit. But first of all, the context of who I am. I've been selling real estate for 33 years, but at the top of my game in all 33 years. my first year, rookie of the year, and every year after top producer in my office. Top 50 in the world with a couple other companies in the world. And I don't say that to say, here's my success, but to give significance to what I'm going to say. It's not about success.

It's about significance. I went on thousands and thousands and thousands of appointments that I would never, ever get that business. shouldn't have gone on those. Yet I went because I thought the possibility was there and I should have thought what's the probability? Possibility, probability. Think about that. So I went on all these appointments and if I actually add up, add up the amount of Randy hours that spent going on these appointments, I probably told more than $10 million of Randy hours that I spent when I I could have been spending those hours with who, my family, or other clients that really wanted me to be the chosen one rather than the chump. So here I am at many appointments like this cat

wondering if I'm going to get the business. And what I really should have been thinking about is I was the chump. I was the one that was going to be trick-fooled or taken advantage of. Not really, but that's what it happened to be. So in real estate, When you think of chump, it's the agent that reduces their fees that has kind of taken advantage of, worked with difficult clients. And I did all of that, by the way. I was the chump on thousands and thousands of appointments. I would sell my soul to get the listing. And after 33 years and 7,000 sales, I've come to the conclusion that I went on thousands of appointments that I shouldn't of.

I was not the chosen. See, the chosen is about worth, skill, expertise. And in real estate, it's really about this. The value of trust that you build with your client. That's what it's really about. The value of trust. And see, so often what we do is we mix up these two words of trust and value. And we're continually throwing value out when we should be

building trust. See, if we're explaining and justifying what we're doing, we have lost. Think about that. Every time you're an appointment, you start justifying what you do. You start saying, I'm this, I'm that. This is how I'll get it done. But the moment we're justifying what we do, we've lost. We're not building trust at that point. So we explain our values and it always starts with this. my or I do. I have this experience. I have these awards. This is my market insight. This, this, this, this. And that is just selling our values. Think about this. How many agents tell you they're the best? Or you see their marketing. I'm number one. Number one at what? Number one at volume. Number one at sales. Number one at personality. Number one at what?

social media? See, we keep selling our value. We keep missing what the essence of what we do. And that is, we are trusted advisors. And we miss the point. We miss the point that we're to be the chosen, not the chump. And so you can't overcome emotion, trust, and connectivity with your facts, logic, and reason. People just won't connect that way. People just won't connect that way. people are not wired to work on logic, facts, and reasoning. They're wired with emotion, trust, and connection. And so every agent starts talking about the same thing, and pretty soon those people have interviewed everybody

in your town or in your community, and they sound exactly the same. So what stands out? What is the one light bulb that stands out? And that is the agent that builds trust. Trust is everything. Trust is the foundation of all relationships, of all decisions,

of all things. Yet we leave it to the sidelines and we work on our value. We bring the best listing presentation. We talk about how we're going to get things done and what my marketing will do. Yet we're missing the point of building trust. The other one is empathy. And empathy is the,

art of influencing others by articulating what they're thinking, feeling without necessarily agreeing, disagreeing, or sympathizing. Empathy. Empathy is the key in building the trust. And when we build empathy, what we do is they see us, they hear us, and they understand us. But more importantly, they see you, or we see, I see you. I see you, I hear you and I understand you. And in turn, they say, I trust you, I need you, and I choose you. And I choose you. So I went on thousands of appointments where I was not getting this conversation before I went. And that's where I spent hours and hours and hours of time being the chump. So that's right versus right.

So when you're the trusted advisor and you hear, you see, you feel them, they say, that's right, Randy. Because they're now heard, they're now seen. They now know that you are the trusted advisor. Rather than just commenting, yes, right, yes, right. no, no, that's right is what we want to hear. When we hear that's right, we now know that we've made the connection, and we are going to be the chosen one in that situation or in that transaction. So in order to really understand how to get there, we need to understand the truth of human behavior.

Because human behavior is really the key to understanding how people make decisions. And one of the first things we need to understand in human behavior is the past predicts the future. Think about that. The past is always predicting the future. So we need to understand what was the past experience for these clients that you're going to be the chosen? Because when you understand the past, you'll be able to help them with the future. And they'll get that when you hear and they understand that you understand their past so you can help them with the future. Number two, the mind is always closed. And this is so cool. I said to my wife, Jolene, I have an open

mind. She says, no, you don't. You do not have an open mind. I said, yes, I do. I will listen to everybody's opinion. I'll let them guide, lead me. And then I'll make my decision. She says, yeah, you do that. But you always come back to your mindset. See, we often think that we're open-minded, and this is what we have to understand, that clients are not open-minded. They've got their mind made up, and we need to work within their closed mind. Because a closed mind will not open, yet we need to understand what is in their mind. So most people have a closed mind. Number three, we're hardwired for negativity.

So before we get to the positivity, we're usually thinking of the negative side of things. This is why CNN is absolutely crushing the polls all the time. They understand what people want. They want negative stories. So they lead with a negative story. We're all hardwired to see the negativity side of things. So we, in the game of real estate, we need to understand that and help our clients shift from the negative to the positive. But it's really about knowing that they're already going to the negative.

Number four is the fear of loss is the most powerful motivation. think about that the fear of loss will motivate people to do just about anything and so we need to frame what we're talking about where they may lose something and I might say this here I think I should add this is that we're not actually telling them what to do we're giving them all of these options so it works in their mindset with these behaviors so for instance the fear of loss I could say well, this is great. I know you want to do this. But have you thought about what it means if you don't sell in 30 days? Have you thought about what it looks like if you're willing to do this? Or what happens if you don't do that? And all I'm doing is giving them options so they can process that option and realize

that by going down their lane, they may lose something. So the fear of losing something may help them move to a different decision. That's really what we're doing. and that's what we're trying to do with understanding their behaviors. Compromise is never the end to what ends well. Think about this. In real estate, we do this all the time. We always compromise. We always split the difference on a deal.

Why does that accomplish? Well, we think as agents, hey, we got everybody together. We all split the difference. Everybody goes away happy. Splitting the difference or compromise gives you two outcomes. Number one, the best outcome would be, we had to split the difference, or split the difference. See, first impression is everything, or is it? Or is it? Lasting impression is more important than first impression. And the lasting impression, if that's the last impression they have, that you split

the difference and they had to settle, do you think they're going to send you some referral business? Maybe, but likely not. But if you help them not have to split the difference and you negotiate on their behalf, do you not think that they're going to be more inclined to send you some business? So never split the difference, never compromise is another behavior that you should stay away from. Autonomy is sacred. People will fiercely depend on independence. Fiercely depend that.

Think about that. Why is there so much angst in the U.S. right now? blue against red for the principle of it. So we have to understand what is the principle that they want to stick to? What is the autonomy that they are sacred to? We have to work within that to understand how we can be the chosen. And then last but not least is that vision drives their decision. People make long-based decisions on their vision.

And so we need to really understand their vision to really understand their vision to really understand that. So these are the seven behaviors that we need to understand so we can ask the right questions. So we can do the work before we get to the appointment. Because I don't want to go on any more appointments where I'm the chump. I want to understand and know the behaviors, then ask the right questions, show them that I am the trusted advisor.

And how do I do that? I don't yell across the street by values. Hey, this is what I do. I actually walk across the street and say, I see you, I hear you, and I want to help you. And my goal, my decisions don't mean anything. It is all about listening, hearing what is important to them, hearing what they would like to accomplish, and then helping them reframe it without my gain. It's all about their gain.

and when they sense and they feel that it's all about them, then I become the chosen. Now, what happens if I can't get there? And I realize I'm going to be the chump. At that point, I gracefully back out of the situation. I say, listen, I don't think I'm the right agent for you. I just don't think I'm the right agent. I think there's a better agent out there for you.

In fact, I could even give you a few names of other agents that I think would be a better fit for you. And you gracefully back out of that. You know what happens? They go, hang on, maybe you are the right agent because you're speaking a different language. Or I gracefully back out. I go and do my work and I go and work with the chosen or I go and have more time with my family and I'm more successful because I'm actually attracting the people that are really my people.

And if things don't work out for them, they go, you know what? That Randy fellow, he spoke to us with authenticity and trust. truth and he really cared about what we wanted to accomplish. He gave us options. He didn't force anything on us. So that is what I would do between chosen and the chump. So chosen and chumps come in all shapes and sizes. They look like this. They're kind of funky. They're fun. They're different. They're eccentric. They look like this. They look like this. They're messy. Oh my goodness. of these people can choose me as the chosen or the chump. I just need to understand where I fit into it and not get caught up in who they are and if it's the right fit for me. It's really, am I the right

fit for them? And they even come in this, beautiful houses, all structured, all cookie cutter, perfect, and they all look the same when it comes to the chosen or the chump. Who are you going to work with. The chosen or the chump? Don't spend thousands and thousands of hours going on appointments that will never work out in your favor. Make the decision to be a chosen agent versus a chump agent. So this is really what the chosen is all about. It's about building trust, bringing them hope, empathy, and resilience. And it's almost like a house when you think about building a house. Trust is the foundation. Hope is one wall because you've got to bring hope. People love people. People. that have hope. And then there's the empathy wall. Do you understand here, listen to really what

they're asking and what they want to accomplish? It's their mandate, not your mandate. And then the resilience, if you're going to work with them, they need somebody to defend them and everything they do. And that's the resilience piece. That's the roof. And you're all three and four of these pieces for your client when you're the chosen. So rather than yell, at them and telling them all of the value that you're going to bring to them because that isn't going to get you to be the chosen. That's going to be the chump and you're going to work with people that you shouldn't work with. So the chosen is really about listening, understanding, knowing what is driving their decisions and then giving them options so they can make a good

decision. Really, that's our role. Bring good information. Help them make a good decision, but it's their decision. And this is how you're going to save yourself, not just hours and hours of time, but you're going to actually make more money because you're going to work with the people that are really about you and really dig you. Become a chosen, not a chump.

And when you hear, that's right, you're on the right track. You're now the chosen, not the chump. Thank you. Thank you.