KGCI: Real Estate on Air - Ricky Carruth Speak to PROSPECTS with REAL UR

Episode Date: September 26, 2024

You've got to be so purposeful and intentional and speak with true urgency around real situations happening in your business. Ladies and gentlemen, make some noise for Ricky. He is an investor, a speaker, and soon to be remembered, in my opinion, as a legend in the industry. The cool thing about what he was doing was he was documenting everything. Like, he would post his calls, his work he was putting in, strategies. He was sharing everything. The whole premise of being an agent is to talk with people you don't know to help them buy and sell real estate. The number one reason why agents fail is literally confident.

You should be caring about the 20% of people who are dying to do business with you that don't know you yet. But again, energy, not this boring stuff. You know, if you're not getting a lot of engagement, some people are like, how do I go viral? How do I get stuff like viral? As you're working on developing that skill, go talk to people every day. If you weren't in December, taking advantage of the slow time to stack as many lists as you can, you literally wasted the greatest opportunity. How are you guys doing this morning? Good, good and you?

Really good. I think most of us are here. Okay. Some of them are in the office. Some of them are their homes. Cool. All right. Well, good to see everybody.

Merry Christmas. I guess, you know, I don't a lot about, you know, I don't a lot about, you know, you guys as far as like everybody's role, what you guys got going on, you know, where you are in your career, how long you've been doing this, what you know about me, et cetera. But maybe you guys just tell me kind of what you're running into problems with or what you guys feel like I can best help you with. And we'll kind of go from there. Okay. So my biggest concern is why I am part time because I do have a dual career. But just getting clients, doing things to bring more clients in.

The clients that I've had have been obviously friends. Some have just been by them finding my card somewhere. Yeah. That's just my main concern. I just ordered some door hangers. So they're in. So I'm waiting to start putting them out there. So with the door hangers, do you just run up to the door, hang the thing up there and just run away as quick as you can?

I haven't done it. I just ordered them there and here. Is that the plan, though, is to run up there, just hanging on there? I hope nobody answers or comes out and just run away as quick as possible. No, I could knock. I've done door knocking before with a lender. And out of the, I looked up the people that had leases and we went up to their house and none of them were potential clients. They were like, no, no, thank you. I have a real estate agent. anyways and one you know just said that he had houses already he was just renting that so it didn't nothing came about but well no a lot came about you you have now you have the experience of doing that number one so you are a little bit better now than you were before you did it yes you know you got that feeling it you know in your stomach of you know walking up knocking talking to somebody like

that's big right so you have experience out of it number one so you have to look at every single scenario as you know the results are really don't matter honestly because we know closings happen every single day and business is unlimited it's just a matter of us it's just a matter of enough people knowing who we are and how much we care about others and that we're willing to work really hard for people to get involved in those closings um so the results of what we do don't really matter that much because we know if we're doing enough actions, we're going to close some of these deals that are happening every day.

Then at that point, even in, see, you can't lose in real estate, right? So like some, like, I always have dual purpose for everything I do. So like if I get a listing and I'm calling the subdivision of that listing, other owners in the subdivision, to try to sell the listing. I'm not just trying to sell the listing. I'm trying to also create relationships with the property owners to see if I can create some future business out of this situation. Whereas so I don't lose, even if I don't sell the listing, I still won.

If I lose a deal, if a seller's interviewing three agents and they don't pick me, I lost the listing, but I won future time back. That I don't have to spend on that deal anymore that I can now invest into other deals. You can tell me any way that you can about a situation where you feel like you lost in real estate and I'll tell you why it was a big win every single time and if you look at glass half full versus half empty in every situation and really it's just a perspective thing and when you think like this and live like this every single thing you do ends up being productive even if it turns out with worst case scenario right um so don't say nothing came of it because actually a lot

came out of that you just don't realize it because you don't you're not looking at it right one. Number two, I hear you saying, I want to get more clients, right? So my question is, what do you do now to get more clients? So the thing is, is nothing. I already knew the answer, because if you're saying, if friends call you, and then if people found your card on the sidewalk walking by, they found your card somewhere like on the side of the road, that's basically the extent of your clientele. That tells me you're doing absolutely nothing to try to get new clients. So then I have to wonder, okay, she says out of her mouth she wants to get new clients, but what actions is she taking to get new clients? See that the ambition and the words don't

match up with the actions. See what I'm saying? And clients are everywhere, like everywhere. Like go outside the office right there and just do your head like this, do your head like that. you probably saw like five or 10 clients right there. There's people everywhere. People everywhere you go, Walmart, gas stations, doctor's office, everywhere. These people own houses. They're buying houses. They buy rentals.

They own commercial. Like all of them. Yeah, it's almost like very few people don't own something, right? Very few people are renters. Like more people own than rent. There's 100 million homes in the U.S. there's 300 million people and if you take out babies and teenagers you know there's so yeah man like boy could I spend some time with you and like help you figure this whole thing out but like it comes

from a perspective slash mindset slash understanding slash knowing that there's just so much business out there right do you already know that yes okay so you got that part down So then my question is, why aren't we doing anything to get new clients? Because clients are everywhere. I know. I need to be better about just everywhere talking to people, giving them hard. Yeah. So it's not like I brought up the thing like gas stations like, you know, grocery store thing just as an example.

Okay. That's not what we're going to do. Okay. What we're going to do is we're going to take the 20 different legion activities that exist. in order to talk to property owners at a high frequency, and we're going to narrow that down to the top two that work best for us. You know, whether it be, you know, door knocking, for sale by owners, expires, circle, you know, social media, Zillow leads,

open houses, you know, running ads, you know, direct mail, like, name them all. Like name all 20 Legion. activities and then there's you there you go there's your target there's your you know there's your job right there right now we've got to say okay which two of these work best for me in terms of the most frequent conversations with property owners in my market and even if i'm chasing buyers guys even if we want to be a buyer agent what's ricky what would rickie do i i'm going to take the property i want to sell and i'm going to find all the people that own homes that's a downgrade to that

to that property and I'm going to call them and say, hey, do you want to upgrade to this house? Because they're going to sell the one they're in and then buy the one I'm trying to sell them. That's two deals. You know, even with buyers, I'm going after property owners. I'm specifically targeting people. See, right now with people that are sitting on low rates, don't really want to sell, you know, we're at 2008 levels of transactions. We just have the lowest pending deal month ever recorded, you know, on and on and on and on.

with how slow the market is in terms of just activity. You've got to be so purposeful and intentional and speak with true urgency around real situations happening in your business to really get stuff going right now. You've got to be a real, you know, working around situations to create urgency. We literally can create demand out of thin air, like as real estate agents, right? So like, for example, are you working with any buyers or sellers right now that might do something soon? Um, a listing coming up. Okay.

Why are they selling? They're in a, they're in a situation where they need to get, they need to sell their house. Okay. Financial. And then they're going to rent or what are they going to do after that? They want to rent. They're going to move and rent. Okay.

So anybody else? Do you have any buyers, any other? So you're working with one possible seller. Yes. So you know what, you know, the most common answer when I say, how many active buyers and sellers are you working with? Just the most common answer for agents is four, right? And you know, statistically speaking,

if you're working on four possible buyers or sellers, that's literally 0.8 deals statistically that actually come to fruition. in the next, say, 90 days or whatever. So when you're working with four possible buyers or sellers, you're literally working on zero deals with four. And you're working with one, right? You should be frantically every day losing your mind trying to talk to people that own property to see,

to let them know you're an agent, to see what it is that they want to do, if anything. You're here to help them. Now we're in the future and get to know these people. That's your job is just conversations. The only thing between any of you guys and like millions of dollars in commissions are thousands of one-on-one conversations with people in your market. You can spread that out over, you know, three or four years.

You can never do it and just stay where you're at forever. You know what I mean? But until you flip the switch and say, you know what, I'm going to get out here and talk to people and do my job and help people buying sell real estate, the whole premise of being an agent is talking to people you don't know to help them buy and sell real estate. Right. So every day when you wake up, you should be like,

I'm going to go talk to people I don't know all day and help them buy and sell real estate. Okay. Well, that was a good start of the call. You guys all fired up and ready to. Okay, what are you going to do moving forward, Monica? Talk to more people. Let them know I'm real estate. How?

Every person that I meet, there's a chance, opportunity, my job. Reds? Yes. Do you have this fear of? calling people? I mean, the door knocking was kind of like, you know, and that's why the lender, she went with me and I learned a few techniques from her. She had done it before.

That was my first time. Do you know how much people love you? I hope so. No, no, no, no, no, not hope so. Like, do you know how much people love you? When they meet you, they see you, they talk to you, they just love you to death. Do you know that? No.

Yes, you know, girl. See, this is what I have to like. Yes. Okay. Yeah, see, this is what we, this is what we got. This is the problem right here. You don't realize how much people love you. You think people are going to hate you when they're going to love you.

That's the thing. You talk about confidence in my opinion. It is. The number, the number one reason why agents fail is literally confidence. They're confidence. and who they are or what people think or whatever holds them back from taking the actions needed to go succeed at a high level. And then they just end up just average or quitting the business. It's literally all it is.

And the ones that you see that go out and sell like 100 properties in their first year and like make millions and do all this stuff, it's literally because they just were really confident and they would just talk to anybody. They didn't care what people thought. They knew that they were standing behind the fact that they really cared about people. they had great intentions. They were just trying to help people. They weren't trying to pull one over on anybody. They were just literally just trying to work hard,

help people buying sell real estate, which is what our job is. And the people that don't make it, they're scared to do that because they think people won't like them or worried about what people think or whatever. And yeah, there's going to be some people that don't like you. Right?

I mean, every time I post something on social, I get like 50 people that say, I'm stupid. But the thing is, is there's another 3,000 people that love the post. You know what I mean? You've got in business, you have to take the good with the bad and realize it's a numbers game. You're filtering through the population to find the people that do love you. And I promise you, every single person, there's going to be about 20 to 30% of people you meet that love you forever and will never do business with another agent.

The other 70% don't like you or they already have another agent or whatever. but you don't you have to get you have to go through the 70 to get to the 30 right and you just can't if here's the thing Monica if you cater to the 70 and don't do anything because you're worried about what the 70 thinks you're not giving the 20 to 30 you and so then the 20 to 30 that actually love you and want to do business with you they're never going to get to know you because you were you are catering to the people that's not going to do business with you anyway Why do you care about them? You should be caring about the 20 to 30% of people who are dying to do business with you that don't know you yet.

But you're catering to the 70 and so the 20 don't get to know who you are versus catering about the 20 so that the 70 can kick rocks. You know what I mean? Go out there and see how many people you can find that don't like you. I bet you'll have a hard time doing it. I agree. Good stuff, good stuff, man. Let's move over to somebody else. you guys having any problems in your business or, you know, what can I do to help you guys?

Because, I mean, you guys got me. I'm here. I want to make the best use of our time here. So what can I do to help you guys be more efficient, scale your businesses, et cetera? I think the biggest problem in the office is confidence because they all know what they're doing. It's just a lack of confidence and repetition. Like they need to keep just trying the same thing every day. and just do something.

It takes a long time. And it's a little, a lot goes with with the real estate. And like I've told Miguel, I know eventually every case is different. Just like my career, you know, took me whatever. And I've still learned every year, you know, every school year. So I, it is nerve-working because you come to a situation you don't know. And like, okay, or they ask you something and you're like, oh, gosh, you know. Let me find out first.

I mean, I never say that I don't know the answer, but it is. It's a little self-confident in the field of the real estate, you know. Here's the thing, though, no matter how much you research to learn all the answers you think they're going to ask, the one question that you didn't research is the one they're going to ask you. Okay. I don't care how long you've been in business. I've been doing this 22 years, and I basically know nothing. like I like you know I walk with confidence and people just believe that I can get the job done and stuff like that you know that I've developed over the years but as far as just like like you know not necessarily market knowledge but like just the ends there's like every situation is different like you're going to run into deals I don't care how long you've been doing it where you run into situations you've never encountered before you know you're encountering it for the first time.

And so you kind of have to get past that because again, if that's holding you back from like talking to people, then you're never going to talk to somebody because even after 30 years in the business, you're still going to have that same scenario where we run into stuff that you don't know exactly how to handle it. And so if you're going to let that hold you back, it's going to be holding you back forever because that's never going away. And look, people respect you a lot more for saying, I don't know, let me find out and get back to you. and you get right back to them. That's an opportunity to show them how quick you work. Because you figured it out and you called them back in like two minutes and they're like, whoa, this person is on it. So those situations actually give you an opportunity to prove to them how diligent,

hardworking and honest you are, you know, and how much integrity you actually have. So again, what else you got? What else do you got, guys? No, no, no, no, you. Oh, me. Yeah, like, okay, okay, that's something that I can. I feel like I am confidence. I could go up to people and talk.

My colleagues know that. I can. And I'll be honest, have I spent enough time doing what you're telling me to do, what Miguel? No, I haven't. I do have a full-time job. And this started off as, hey, I've always wanted to do this, you know, COVID year or whatever. And, but I do.

I invest in. my career in different ways that I need to really go for it and get out there. I'm not shy. I could talk. I do have confidence. I could go up to a stranger and talk. It's just eventually I do want to retire from what I'm doing and do this. So I just, I need to get out there. I need to start running, you know. So if you, so what, what would you say is like, would, like, if you had to do it today, what avenue would you take to try to talk to property owners all day long? Would it be door knocking?

Would it be hole calling? Would it be what Miguel said, like, um, cold calling. So check this out. Check this out. I got one for you. Have you guys seen my, um, listing challenge? I have. Um, so like agents are crushing it with this.

right it's a handwritten letter right it's handwritten envelope handwritten letter they're getting it's making the phone ring um they're getting listings off of just the letter okay they'll send 100 200 letters a week um and they're getting listings off just the letter okay but then to take it a step further they're calling the people that didn't call them off the letter and saying hey how you doing i wrote you the letter you know didn't know if you got it or not what do you think blah blah blah and it's not a cold call anymore. It's a warm call. It's a follow-up call.

And this has been great because it's been a one-size-fits-all where anybody can do this, right? If you're introvert, extrovert, light cold calls, not light cold calls, whatever the case may be, when the seller gets the handwritten, they're going to open it.

It's handwritten. They don't know what's up. They're going to open it. Now you've got their attention. Then they see what it's about. then a percentage call you. You work with those, you know, maybe future relationships are built, maybe current, maybe deals today happen. Then you call, you know, say 10 people out of the 200 call you.

Then you call the other 190 people. And it's a very easy call because it's not a cold call anymore. You send them a letter, right? And you send them a letter on a buyer you actually have. you have a buyer for this specific kind of property. You send letters to people that own that type of property. You're working for your buyer and you're looking for an off-market seller. There's no inventory.

And through the process, again, like when I have a listing, I call a subdivision and maybe I get a listing, maybe I don't. Maybe I create eight new relationships. Same thing here. Maybe you find somebody who wants to sell now. Maybe you create eight more relationships for the future. Put them in your weekly email. Send them a weekly email. right they remember you forever they call you when they decide to sell it's just building business but that

might be something for all of you guys especially if you're scared to get on the phone is to use this system to number one get listings off of not even making any calls but number two if you really wanted to go to the next level call all the people you sent the letter to as well it's a really warm um follow-up type call not really a cold call you're calling with a on the back of a letter you sent based on a situation that's reality. You have someone that might be interested in their specific property, right? Are you getting this? Are you getting these addresses through geo leads to Redix?

Yep. So let me, let me show you this. So check this out. All right. So on the new coaching platform, If you go over here and you go down to the Silver member section, and you go to 30-day listing challenge, okay, you click this.

We literally have this mapped out. There's a video here. You should watch the whole thing. I map out the whole thing. Right. And then we have resources, okay, Red X and all that. Create buyer list. You've got to have your buyers first.

right got to know who the buyers are you have what they're looking for export data we have a video tutorial here on using redex to actually find the houses download them and put them in a spreadsheet we have a spreadsheet right here already ready for you um where right here you have your buyers right you kind of put what they're looking for here you've got your seller so we on the video we have it to where we did a tutorial on how to actually import the sellers out of redex right onto this spreadsheet and then you can check once you sent the first mallor we want to do the letter once every six months you know first first letter sent second letter follow-up call right after the letter and then the next one is motivated sellers right so like we we have all this for you and then

the daily routine of course but then conversion this is literally the conversation when they call you on the on the letter what to say do you really have a buyer's what they're going to say you're going to say yes right don't say you're working with a bunch of buyers or you might have a buyer you've got a buyer for their specific property or they're going to leave and then you you know you you set up to go look at the property if they're serious about selling you find out why they want to sell and you get a asking price and commission agreed on at least verbally before you tell your buyer you don't you don't just say oh i got a property you got to look at it make sure the seller wants to sell for a good price and is willing to pay you a fair

commission and that the property is in good shape. Then you can present it to the buyer. And I have it all in here, like even how to convert it into a listing, things to say. And then we also have the follow-up calls right here, the script for the follow-up call. So you guys can go to zero to diamond.com and go and get this. But we also have, it's a listing challenge. So we actually have a listing leaderboard where we're keeping up with everybody's listings all through the month and the top three get a prize i've got a slight edge books i'm signing and mailing out and also the very top prize is going to get a free ticket to gold bar live which is our going to be we're going to do a conference every year so this is in new york

on times square and uh ryan surhan josh altman uh dina me won like it's good it's going to be a heck of event but the top listing agent in this program is going to get a free ticket to that and the top three are going to get signed books but agents are crushing it with this i got agents getting 20 listings a month because they're doing 200 letters a week and then they're calling them all the next week and writing 200 more letters so go to zero to diamond dot com and and dive into that and start sending out those letters man like by the masses and then and then create like a system around sending the letters this week, calling those people the next week while you're sending out the next batch,

you're going to call the following week. Send out more letters the following week when you're calling them that you're going to call the next week and kind of keep, try to keep that rhythm going, whether you're doing 50 letters, 100 letters, 200 letters, whatever it is, based on your other job and how much time you have. Try to get into the ebb and flow and see if that could help you with your confidence in terms of

just sheer confidence, right, behind it not being such a weird. Like, again, you got a call with purpose right now. You got a call with situations happening. That's why I say, like, the buyer thing. And, like, if I have a listing, I'm going to find people who could upgrade to that listing and say, hey, do you want to buy this? And, you know, even to take it a step further, like, you want to say hi?

You guys got to see this. Oh, how cute. Bye. Yeah, I will. To take it a step further, like absentee owners. Like on Red X, you can literally filter out the absentee owners, people that don't live in the property that you're calling about, they don't have to move. They can sell that property. if they're renting it or if it's a second home or whatever, you can target those people, right?

It's just thinking of situations that you can create urgency behind what you're doing. That's what has to happen in this market with just such low, suppressed, depressed, transactions and inventory on the market, you know what I mean? Cool. Anybody else have any questions or anything else I can do to help you guys in your business? So I have a question on how do you create hooks for when you're trying to make a post or a video or real on Instagram? And what topics would you usually go for? Well, depends on what I want to happen.

You know, I mean, obviously you're saying this from the standpoint of being an agent looking for buyers and sellers, right? Yeah. I think market knowledge, like breaking news type stuff in your local market. You know, like I do, if you see my Instagram stuff, I talk more about national numbers because, you know, I'm building a global brand, a national brand. You're building a local brand. You know, so you should actually maybe even do the same thing I'm doing, but more local numbers, right?

Find articles about your local market with prices doing this, prices doing that, do green screen reels behind that kind of stuff. With the hook, the hook's got to be good because people are scrolling so fast. They're scrolling faster and faster every day. It's got to be something that people think is kind of semi-intertaining, funny, you know, interesting, you know, most of them that I see are super boring, and they don't get hardly any engagement. It's got to be something that really throws. I mean, you guys have seen mine, right? You, it's got to be, you know, you got to be pretty high energy, and you

got to be bringing some heat, you know, with, with some value. So that's one thing you can do. You can also do, like, local business type stuff, right? But again, High energy, not this boring stuff. And a lot of times your videos suck for like two or three years before they get good. If you go back to mine when I started seven years ago, I'm like, those are horrible. Even I look at the ones last year and I'm like, oh, man, I wouldn't repost that in a million years. You know, so you got to think about that too. Like where are you on your journey of creating?

And like in the Monica situation, you just got to bite the bull. it and go for it, you know, and just do the best you can do knowing that you're getting better and better every video. Would you stick to only real estate type of making videos or would you recommend going for, let's say, a day in the life or like a real estate agent or just like off topic events are going? I think I would do all that, honestly. Again, with like topics and stuff, keep it semi-realist.

but you know people are going to come back because of you you know what i mean if you're boring on the videos hardly anything's going to work it don't matter what topic you're talking about you know what i mean if it's if it's like if they watch your video and they like kind of smirk a little bit because it was kind of funny or you know they feel energized after they watch it or they you know it was like some and a lot of times it's a lot of lot of times people are actually giving great value but you know that the the watcher doesn't even get to the value part because the beginning was so boring they just kept scrolling before they even got to the really good value you know what i mean yeah we all do that videos we're like okay that's too

long exactly exactly and but but but but like there's two hour videos that you watch every second of too. So it's not because we have short attention spans, even though we do, but it's not because of that. It's because of the video sucked. And then you got a two-hour video. We watch every second up to the last second and wish there was more because it was so good. So you have to think about that.

The biggest factor of algorithms is watch time. And if people watch the whole video, you know, if you're not getting a lot of engagement, some people are like, well, how do I go viral? How do we get stuff to go viral? And I'm like, well, make something so good, everybody that watches it has to watch it all the way through just because they, they're drawn into it and they have to watch it all the way. If you get it to where videos are being watched all the way, it's going to go viral. It's going to hit hundreds of thousands of views. If people, you know, are clicking out of it after a couple seconds and it has low watch time, you know, because it sucks.

you can't make a video that sucks, go viral, okay? And if you suck at making videos, it's okay, because as long as you're making videos, you can only get better. Yeah, I think all the topics you said are really good. I would mix it up and do everything you said, but I would more so work on your, not performance, but, you know,

just the personality behind the content. You know what I mean? like, you know, where people are like, oh, what's Miguel going to say today? I can't wait to see what he's going to be like, what's he screaming about now or, you know, that kind of thing, you know what I mean? Yeah. Like mine, you know, I'm like, ooh, and people are like, what the hell is he fixing to say about? What's, what's Ricky yelling about today?

You know? And also, like, just hacking things, like, people that have to put their thumb on the story to read the paragraph. when when people spend time on your stories and they stop it to watch it it the algorithm shoots it into you know it puts it in front of everybody right it's things like that um you know you can type words on reels you know you can type words captions you know like putting something there where that's real captivating like they read it and they're like okay what what is this I got to know what's going on here.

So like little things like that too, you know, to try to draw them in a little more. Anything to get them drawn in and let it shoot into, you know, let the algorithm pick it up. But just like the cold call is getting used to learning how to communicate with anybody on planet Earth to create friends with them enough to do business. You got to make a lot of content to learn these little hacks. Is there any platform you would recommend beginning at? Would it be like TikTok or Instagram? I don't know. I like Instagram myself, but that's just me.

I do them all. YouTube, Facebook, LinkedIn, Twitter, all of them. I don't know. You know, they all do well. You know, they all do well. That's the thing. They all do well. But obviously you can't become a master of all of them.

So I think that's more of a personal choice, you know, which one do you? know, feel good on. Which one do you want to create on? Which one, you know, do you feel like the most opportunity is there for you? Instagram just kind of turned into my thing. I've done really good on YouTube, got over 100,000 subs. But Instagram, I just crush it. I just get so many leads. To answer your question, man, it's just such a long journey, the content creation, like getting to where you're really building business on there. I think what you need to realize, man, is that every lead-gen activity comes right back to a real conversation and that the conversation is the gatekeeper of all closings.

No matter where you get your leads from, you got to talk to them before anything's going to happen. So, yes, do the social media, get great at social media, crush social media. But as you're working on developing that skill, go talk to people every day. you know, call expires, you know, send the letters, follow up with the letters, you know, call property owners that could upgrade into your listing, you know, stay busy talking to people, you won't be closing a thing. Money's on your phone. That's it.

That's it. You know, buyers have their purpose, you know, they buy and then now they're owners. you know, and then later on they list. They refer people to you. And, you know, so, you know, buyers are great too. Definitely. But you've got unlimited property owners to talk to and they're also buyers. You know?

I feel that we need to focus on listings and buyers will come after that. That's what I always did. I always focused on listings and took whatever buyers came out of those efforts. And I was always at about an 80-20, 80% listings. 20% buyers. But I think I gave you guys some good tools here. If you go to Zero to Diamond, join the Gold Bar platform, go to that 30-day listing challenge, write those letters exactly how we have it laid out for you, make those calls, you're going to get activity, and you're going to list properties. I agree.

And then that literally XNAs all of your excuses on cold calling, because it's not cold calling. What can we do for our listings that aren't selling right now? Just go get more listings. It's just like we don't know what you've already done the work to get that listing and it got priced at. You can talk to the seller about reducing the price. But for the sellers that aren't anxious, they're just kind of hanging. out, just tell them to hang in there a little bit because in January, everything goes pending. Okay.

There won't be any properties for sale come January. We have historic pent up demand. We've just had the biggest retraction of pending deals and closings that we've seen ever, right? Ever. And rates are starting to drop now. In January, every year picks up big time. pending deals, first second week of January, which means they started looking January 1st,

online. They called you January 3rd to go look at stuff. By January 8th, they're under contract, and by February 15th, they're closing. So right now, being so close to January, and the framework of the foundation behind the market that I see and the fundamentals, there ain't going to be nothing for any any listings you have is going pending in January

now that you're talking about the following year with the rates going down and off how do you see like next year going how do I see next year going with what with the rates going down I mean is it going to be like is it going to be what how like is how with getting in front of the camera here oh with the rates going down and all like how how chaotic is a real estate going to go or how what are your thoughts on on the following year like with real estate and all is it going to start the bidding word like it was before yeah yeah yeah

yeah you never know um that's how i tried to tell my listening that he needed to list i said it's going to be back to where it's going to be that bidding and i would have only be speculating to really, you know, answer it. But what do I think? I think it's going to be 2021, you know? I hope so. Maybe not as, maybe it's not going to be as bad. But, you know, I mean, they're already calling for like 4.7 million transactions next year. Everybody's saying there's going to be more transactions, you know. I mean, you guys really, like, just because there were less transactions, do you guys feel like people, their desire to own homes went down? No, they're just waiting.

They want to own houses. So the trade-up seller that's been locked in their home, that pool of people has grown so large. You got so many people that own homes that are dying to move, but they just feel locked in. Okay. So you got that. That's called pent-up demand, people that want to do something but aren't doing it right now for whatever reason. then you got first-time homebuyers that have been sitting on the sideline those people have been piling up we have more of those than we've ever seen in like 20 years since baby boomers just because you know the sheer amount of 33-34-year-olds we've had we have more 33-34 years than we've seen in 20 years um those are your average first-time home buyers so between first-time homebuyers being the largest group that we've seen in 20 years and this trade-up seller bucket of of people um Dude, I'm telling you, it is.

It's going to be a busy year. It's going to be war. Yeah, like it's 2008 levels right now. How much, how much worse can it get? Exactly. And prices can come down, an inventory could go up, right? That could be an area. But if the rate over the last couple years didn't make prices go down or inventory go up, what will?

You know, there's not going to be a bunch of foreclosures. I mean, literally people get behind on their, their nose. they can literally rent their house out for twice what their payment is. You know, like they're not foreclosing, you know, or they just sell it, make a couple hundred grand. Like a foreclosure wave isn't happening. Builders can't keep up demand, you know, and the trade-up seller, they're going to list and then they're going to buy.

So they're also going to take one off the market. So that's not going to be like a huge surge of inventory either. You know, so, but it's going to make transactions spike. you know if you buy one if you sell one and buy one that's two transactions inventory didn't move but that's two transactions you know that's where all the that's why it's like inventory is going to go from bad to worse but we're

going to see transactions increase 20% next year people like close will be huh closings will be happening every single day we just need to be in front of the right people they've been happening every day they're happening right now they've been happening every day this year they've been they're happening right now as we speak there's people in title companies right now closing documents right now all over your market the only

question is what are you guys going to do to go out there and get some of these listings talk to people talk to people send out the letters talk to sellers hey i'm rickie i'm a real estate agent how you guys doing you know you guys looking to buy or sell anything like what can i do to help you yeah nothing well okay do you have a real estate agent that you would work with if you were to do something? No, cool. I'm sure you'll do something at some point. I'd love to work with you in that day, Con, so it would be okay if I just stay in touch? Cool. What's a good email? Bam. You do have an agent? You do have an agent? Great. Who is it? I may know him. Oh, it's Miguel. Yeah, I know that you're a good agent. David, he is a great agent. Listen, I still love the opportunity to stay in touch with you. Is that okay? Cool,

what's a good email? Just get out there and talk to people like their mom or dad. Like, whenever I started talking to my clients, like they were like my mom and dad. that's what my business exploded. It's sort of about making that relationship. Yep. What else can do to help you guys? Do you guys have any other questions? Is there any specific age group you would specifically target more than other types of age groups?

No. Anybody that, I mean, you know, 55 and up, 55 and up subdivisions are tough, right? because most of them are there to be there until it's over. Probably stay away from those. But outside of that, I don't care. Anybody wants to buy? Anybody wants to sell. You won't buy and sell some?

You come talk to Rick. Is being too nice sometime a bad thing? No, not at all. You just have to understand the relationship between low-pressure, high-pressure. You know, I've always, I ended up settling into a good 95% low pressure, which is being Mr. Nice Guy and 5% high pressure. So being the nice guy or nice girl is awesome. People love that.

But don't be a pushover. When it comes time to close the deal, you close the deal. You ask for the business. When you know that they're leaning towards like in a house, listen, you know, if it were me, I'd go ahead and write an offer because you never know what's going to happen. You know, you want to do that? See what they say. If they're leaning towards selling the house, say, you know, let's go ahead.

I'd go ahead and put it on the market right now. You know, you want to go ahead and do that? Let's get it on there. You know, like ask for the business when it's time. You know, when you've built the rapport, you've built the relationship, everybody feels comfortable. They know you're not trying to scam them. They believe in you. They know that you are who you say you are.

You're going to work hard. After all that's said and done, it's time to close. And not necessarily close for the sake of closing. Closing for the sake of helping. If they're not interested, awesome. We'll do a deal later. I'm not trying to force you into a deal now. But if they're looking to do a deal now, let's go.

But yeah, no, no, no. Being nice is a good way to be as long as you don't take it too far. I see people doing the nice thing, and they're just nice, and they just, they don't do a lot of business because they're just nice 100% of the time. And they don't play that 95-5 game. You know, I'm Mr. Nice Guy, but I'm looking for opportunities to capitalize on.

You know, but the opportunities to capitalize on have to be helping someone accomplish their goals in life. You know, that's why I go deep with why they're buying or selling. You know, I'm like, they're like, I think about selling six months. Cool, what's going on in the six months that's got you wanting to sell then? Do you want to close in six months or start the process in six months? What's happening?

You know, oh, well, this, that, or the other. Okay, well, why that? And I just keep digging and digging and digging and digging. I got to know everything about what's going on in their life and why they're thinking the way they're thinking about whatever it is before I can really understand how to help them. And when you dig and dig and dig, they're like, wow, this person really cares enough to ask these questions.

Too many agents are living on the surface. They're just like, oh, you're selling six months? Okay, I'll call you back in four months. See, we don't know why we're calling them. We don't know if they want to start the process in six months or actually close in six months. They're going to close in six months. I mean, we've got to get started here in the next 30 to 45 days.

We've got to start figuring out kind of how we want to, what we want to happen. And why are they selling? Are they selling to buy something? There's just so much to it that agents just leave all that information on the table because they're scared to ask questions. Again, I come back to if this was my mom, if this were my dad, what would I be asking? What would my genuine, curious mind wonder about the situation? You know what I mean?

And when I start talking to them like their family, it comes a lot more natural. And then once I get to the root of what's really happening, we put together a plan together. this is how we're going to execute on this. I am Mr. Nice guy. I was a free coach for seven years, okay? Just coaching thousands and hundreds of thousands of agents for free. Too nice. Yeah.

But look where that has gotten you also. Exactly. And that's what I say. Now I'm charging $100 a month. And here comes the 5%. I paid my dues. to build the brand. Absolutely.

I love you guys. You guys got anything else? When you mentioned to just go out and talk to people, how would you approach that person? I would never talk to somebody in public. I'm such an introvert. It's not even funny. I never wore a name badge. I remember being at parties, like after hour parties, business after hours.

And my mom was there and stuff. And I'd hear from this from. the other side of the room. Ricky, come over here. This guy wants to buy a house. And I was like, good God. Do not tell him I'm a real estate agent. So again, it comes down to what works for you.

What worked for me was sending the office, writing letters, making phone calls. And I was like, I could visualize how that was going to get me to a million dollars a year. I left a lot of business on the table through sphere of influence I never contacted, through just people in public, just opportunities that I just let just go because that wasn't my thing. So you have to figure out what your thing is, you know? But I mean, like talking to people in public is easy. You give a compliment, followed by a question. You know, nice shoes.

Where'd you get them? You know, oh, those grapes are healthy. Do you eat them all the time? I don't know. Just like a compliment, followed by a question. See how they respond. Next thing you know, boom, you're in a conversation. Right.

Talking about live, what they do, their kids, your jobs. Next thing you know, you're taking down their email and putting them on your weekly email. Well, Rick, I know you're a busy guy. I really thank you for your time. Yeah, thank you guys. No, I appreciate you guys a whole lot. I hope you guys have a Merry Christmas and everything. And, you know, you guys can reach out to me anytime.

You guys should have my cell phone number and all that good stuff. So if there's anything I can ever do for any of you, feel free to reach out. You guys should come to our team meetings that I have for you guys who do it every Wednesday at 5 p.m. Eastern. Now we have the Gold Bar call, which you guys get for free. Those are on Mondays. Incredible sales meeting calls. A lot of insight, market knowledge, listing challenges, etc. people asking questions and all that good stuff so um yeah if there's anything i could do for you guys

you just let me know i'm here we will thank you very much for your time see you guys