Episode 24-Does he really take 2 to 3 listings a week while travelling the country?

Podcast Episode Summary: "If You List, You Last" with Bob Mangold

• Introduction:
  • Host: Bob Mangold, also known as the listing coach.
  • Episode 24 focuses on updates from Robert, dubbed the "Traveling Listing Agent," covering his experiences listing properties while traveling across the lower half of the U.S. in the past three months.
• Main Content:
  • Robert discusses managing large open houses (125-200 attendees), maintaining his prospecting and listing appointments, and his overall results and insights.
  • Discussion includes techniques for working with readily available opportunities ("low hanging fruit") in real estate.
  • Bob emphasizes the importance of the Real Estate Asset Advisors Facebook group for community interaction and updates, especially regarding recent challenges in the mortgage market due to rising interest rates and inflation.
• Market Insights:
  • Bob provides a historical perspective on mortgage rates, suggesting that despite current increases, rates are still within a "normal" range historically.
  • He highlights the discrepancy between median income growth and housing price increases since 2004, underscoring the challenge of affordability while also pointing out the wealth-building potential of homeownership.
• Robert's Traveling Experience:
  • Describes the logistics and benefits of managing real estate activities remotely, particularly using Zoom for listing appointments.
  • Shares the personal enrichment of traveling and working simultaneously, and the effectiveness of using advanced technology like Starlink for internet access on the go.
• Professional Insights:
  • Discussion on the advantages of not being "geographically handcuffed" to a market area, enabling flexibility in how and where real estate agents operate.
  • Encouragement for real estate agents to think outside the box and use technology to enhance efficiency and client interaction.
• Call to Action:
  • Bob urges listeners to join their Facebook group for more interactive discussions and learning opportunities.
• Closing Remarks:
  • Preview of future topics and an invitation for listeners to suggest subjects for discussion.
  • Reminder of the podcast’s goal to help real estate agents focus on consumer needs and become agents of change in financial futures.

Takeaway: The episode highlights innovative strategies in real estate that leverage technology and mobility to meet changing market demands and personal lifestyle goals, demonstrating that traditional practices can be adapted for greater flexibility and effectiveness.

Join our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisors

Visit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.org

Download a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com

Transcript

 Hey, welcome fellow listing agents, Bob Mangold, the listing coach here with episode 24. Of the, if you list you last podcast. Now this week, we're going to get an update from Robert. We lovingly call him the traveling listing agent to see how his really his first three months or his last three months have gone taking listing while he's been on the road, right?

He's been traveling across the country through the lower half of the country. And what we're going to talk to him and see how that's gone for him and how he's been handling the open houses where he's getting on average 125 to 200 people attending and then how he's been able to maintain his prospecting time listing appointments and what have his results been plus he'll share some insights and thoughts on working with the low hanging fruit.

and what he's doing to take the listings. Now, as always, make sure you join our Real Estate Asset Advisors Facebook group so you can join the conversation, share your thoughts, comments, questions on any of the topics I discuss right here. Heck, you could even go and ask Robert questions in there. So if you also have a topic or conversation you want me to review, hey, let me know and I'll go over it in the Facebook group and just let me know, right?

All right, so let's get into this week's mortgage market update because it was really ugly last week for mortgage interest rate. So I hope your buyers have locked their loans or they're going to get hit with some pretty serious rate increases. So one of the reasons we encourage you to join the Facebook group is I posted in there a couple times last week when to lock your loans so that your buyers wouldn't get hit with that.

Unfortunately, inflation is still rising at a pretty substantial clip. And in the Fed Minutes, they even addressed raising the Fed Funds Rate. Now, that doesn't have anything to do technically with mortgage interest rates, but in those notes, they also talked about what's called the runoff, how they're not, they're letting mortgage backed securities that they've purchased run off of their books, meaning they're not buying any more.

When there's low demand for mortgage backed securities, That would raise interest rates to make them more attractive. That's what happens to interest rates on your loan. Technically the Fed funds rate doesn't impact, but there's plenty of things the Fed does do that impacts the rate that your people pay.

I thought what I would do

With all this doom and gloom being reported. I thought I'd do a little bit of research because  I've grown up in an era where rates were at 20 percent at one point.  And back in the early 2000s, when you had this really hot real estate market, I want to go back and look at. What were rates like then?

And so what I did is as the media is out there reporting all this high interest rate dilemma,  the reality is that interest rates right now are actually a little bit lower than the normal range for the last 60 years.  So instead of quoting Jerome Powell, and he had a saying, The rates are going to be higher for longer.

What we really need to be saying is rates will be normal for longer.  So here's what I found. I went back to 2004 and I looked at the average yield on a 10 year treasury in 2004, 20 years ago,  the rate was 4. 27 percent from January 1st through April 9th of 2024. The 10 year average is 4. 36. virtually identical  to 2004.

Why did I use the 2004 as the baseline? It's pretty simple. Back in 2004, for those of you who have been in the business it was a hot real estate market and nobody was complaining about interest rates. It wasn't even a conversation. It wasn't thought of.  Buyers weren't saying, I'll wait until rates come down.

Everything was normal. Just like it is now. However, there is one big difference.  Median income since 2004 has risen 34. 36 percent,  while housing prices have risen by  78. 78 percent. So make no mistake, affordability is an issue. But there is some good news in the data, depending on how you look at it.  If you're a homeowner, your equity is outpacing your pay increases. 

So despite the fact that it's going up almost twice as much, actually it's a little bit over twice as much, as your median income, what that's doing for the American homeowner is building massive wealth for them. So the idea of waiting for people to buy is crazy when you evaluate the data that way.

Now, again, make no mistake, Affordability is an issue, but our job as real estate practitioners is to educate the public and help them understand the fastest and only way for the average person in the U. S. to build personal wealth is through owning a home. And it's imperative that we teach them this because the media sure as hell won't. 

Now, does that mean it's easier to get into? No. It doesn't. It means younger kids may, buy a four bedroom house and rent out two of the bedrooms to their friends for a couple years till the income, keeps up with it and it becomes affordable for them. They might have to do different things. 

But our job as a real estate agent is to teach the public why this is so critical. And to also teach them about interest rates, that they're just normal.  They're not high, they're normal. Listen folks, if you make decent amount of money in the United States, decent amount defined as say 100, 000,  those higher interest rates are substantially offset by the income taxes that you save on the mortgage interest deduction.

It's our job to teach people how this system really works. And that's why my real estate group teaches classes on how to use a government rebate to pay a home off in 10 years or less. We're proactively educating the consumer how to tap into wealth building systems using real estate. Now one of the goals of this podcast is to help agents focus on the consumer and how to help them be a force for change in their financial future.

After all, we're the number one asset that millionaires have used to become wealthy. It's real estate. That's our business.  So it's our job to help educate people. It's one of the reasons I'm doing this podcast is to try and get that word out to the real estate community to get it out into the community.

So with that, let's move on to our guest. Robert, are you all set? You ready? All right, let's go. All right, so now I'm excited. About three months ago, one of the podcasts, I don't remember which episode number, we had Robert, we gave him the nickname, the Nomad Listing Agent, come on, as he was about to embark on.

Three month  road trip and still continue to do business in his market, which is Southern California while he was halfway across the country. And so I thought it would be cool to give you an update, see what he's learned and hear directly from him. But I thought what I'd do first, Robert, is tell you some of the responses I've gotten from people.

As I told them  like what you're doing, right? Other real estate agents and the responses that we've gotten.  And then let you bring people back to reality. So the first one is with much disdain, people have said I would never do that. My answer was nobody told you to do it that way, but that happened to be what he chooses to do.

The question is, do you have a process  that frees you from being a geographic prisoner  to your market, other than what you're telling yourself that you would never do that? So what's that feel like not to be a geographic prisoner saying, Hey, I have to be in the market to take a listing. You know what?

I've been in the business just a little over 38 years. And for up until March of 2019, when I met you,  I thought that you had to be geographically handcuffed to your market. It's I was teaching. Don't go outside your market because you're not the area expert. So I bought into it as well. And then when I was introduced to this platform, but more importantly, when I was introduced to COVID  in March of 2020.

We couldn't show homes. We couldn't do open houses. We had to think outside the box. We entered the zoom era, if you will. And I started taking all my listings via zoom. Sellers appreciated it. It was shortened to the point  and time effectiveness was amazing. I wasn't spending an hour in traffic. To spend another hour with idle chit chat about their home and then another hour back to the office.

I would lose three hours just with one appointment. And I found that with zoom, I was taking three to five minute listings, at least appointments, vetting out that seller, finding out their motivation. I was pre approving that seller. Is that a seller that I would like to work with? Can, do they qualify to work with me?

And I, I'm not trying to be cocky.  I just want to be very clear on the target audience I'm going after. And I found that I started doing all my zoom calls via listing appointments via zoom and it was just a systematic process. I've always been into systems, whether it be the REO business of the last couple of times, there's a systematic way of doing things and taking a lot of listings is one of them.

So we need to make sure that those systems are in place. So taking a zoom call, I could do three, four, five, six listings in a day, all via zoom and very efficiently. So  when we set out in the RV. Our kids are of the age where they really don't need us a whole lot. They've got their own thing going on. 

And my wife and I, Carla, 34 years in August, and we this is our window.  Let's take this model that we're doing the system that we're using of taking all our listings via zoom, having our buyer agents run the open houses. Cause at the end of the day, who's the one coming to the open house buyers. So the seller deserves buyer specialist.

home. So we've decided we

Headed out our first leg was a three month tour through all through California, through Arizona, New Mexico, then through Texas encountered a little weather, but I'm glad because by the time we were getting ready to head back home to San Diego, that was our three month tour. We'll sit in San Diego for a little bit, then head up the, our next leg.

But yeah, this, my business has not changed Bob at all.  And so folks, whether you want to travel in an RV or whatever, Robert and I, before we started recording. We're laughing about the picture many of you may have seen of him sitting on the beach in Cabo. And we were just talking about what a cool time that was.

We had a lot of fun and whatever. And somebody said to me where's Robert? And I was like, he's just, he's down at the beach taking a couple of listings,  right? And we're at a conference of real estate agents. And they're like, what? So yeah, no, he's, and this was like Tuesday and Monday, he had already taken two listings.

And I said yesterday he took two. So he's taken another two today. And so he's just down there doing it. And they were like, B. S. It was like, come on, let's go down and watch, just be quiet. And that's when we shot that picture of you on the beach with the Corona on your little table. And four listings.

And so what happened folks is COVID actually was the trainer of the seller, right? You couldn't go in California. They didn't let you go in on a listing presentation. So it had to be done on zoom.  So for everybody, I agree with you before COVID,  I think it would be hard to convince people to do it, but because so many people got.

Accustomed to zoom, it became pretty simple to do. Cause while they found out, Hey, this is cool. I don't have to clean the house. I don't have to do anything. And they could just talk and walk through that process. We were on a different class today and I told people, Hey, if you still want to go to somebody's house to take a listing, you can do that.

I'm not saying it's bad, but I'm just saying it's more efficient. And one of the things I, I try and teach everybody is start to think outside the box, think bigger. What could my life be like if. So if you weren't geographically a prisoner to where you're at what would you do with the time? 

It doesn't mean you don't work.  And I have to believe Robert that because you pick up and move what, every three, four days, something like that. Usually our goal is to stay a week in one spot, but yeah, I would say that's the average. And so then you got to pick up and do that. And then you had things where, you know, whatever, some fuses blew and some stuff like that.

And it was snowing and whatever. So all that, like that's easy distraction to get in the way of. Yeah. Your time blocking and your prospecting time. Like how did you deal with that?  You know what? At the end of the day, I time block every single minute from the time I get up until the time we go to bed.

Everything in between. I time block my prospecting, my trainings, my appointments, everything is on a time block. And if we're having a travel day, I just time block usually from 10 to four on my calendar. And that's the travel time. I know that once we get to the new spot, I'll be up and running. The star link will be out.

The slides will be out. And I, but bottom line time blocking. Yeah. And that was another question you just brought up. It was like how does he do zoom meetings when he's traveling? And if he's where, depending on where he's staying, how does he have internet? Yeah, we went to the desert with the family sidebar here, went to the desert with a family, the whole family, 13 motorhomes like ours, 47 devices, all being  getting wifi through our Starlink.

So it works awesome. Yeah. So remember this guys, when Russia invaded Ukraine and they took down their internet or their internet and their telephone services and everything, Elon Musk shipped all those things over there free of charge, and that's how Ukraine's been able to take and exist as a society in war when Russia took out their infrastructure on Starlink.

Because it's funny, my son is going to take and do the same basic thing starting June 2nd, and he runs our digital advertising agency, so obviously internet's important to him, and he's just getting Starlink to do it. It works so good and he's going all like he's going all over the country for two months Like he's going to the west coast everywhere  don't have to be a prisoner to the internet either folks because Starlink is out there  because In does anybody think any different like they don't really see when you're doing that because you got such a nice place like they're not looking at it going Oh my god, this guy's in a tent and I'm gonna have him list my house Yeah, you're not getting any of that. Are you?  Yeah, it's not definitely not a tent. And I've never actually I'll be on call and they'll maybe hear of our story, how we're traveling all over. My wife does a blog on it. And so I have sellers actually talk to me about it and they're like, Oh man, I want to do that.

So it's quite the contrary. They, I've never had anyone give me any amount of lip for doing this. It's, and it just makes a great story, right? Let's be honest, folks, stories sell. And then because you're doing a blog and stuff, all these people can follow you and they become part of the journey. So some people who maybe want to do it, but they are a geographic prisoner, cause they have this thing called the J O B they can't get up and do that so they can live vicariously through you guys.

Yeah, it's you know what, Bob? I'll tell you. It's it's been a game changer. It's been a life changer. Carl and I've had so much fun with our dog Bodhi and just seeing all the different sites. We have a joke, a standing joke where every morning when we wake up and if we're in a different pace place, we get a different view just about every week and it is spectacular.

We're having so much fun. Yeah, it's not without headaches, right? So let's give an added guys. There's always gonna be headaches, right? And just to let you know when you we first started this call  I've never in the whole three months We've been out on the road have had anyone come knock on my door as soon as you and I started talking Somebody knocked on the door and I still don't know what they wanted and hope everything's okay.

But things come up. What's that?  Oh, our hose broke. So the neighbor came and said, hey, you're flooding my area. The hose broke. I've had one time when we're on  Carta, I was making breakfast while we're, just chatting, recording some stuff and the fire alarm goes off. So  it's just like real life, only different.

And I think one of the cool parts about doing it on zoom and what zoom has brought to the table, folks,  Is that it's okay for that stuff to happen? I'll be doing meetings and somebody's dog barks and they're like, oh, I'm, sorry about my dog. It's no dude that's the beauty of working at home that your dog can bark and that you're there And nobody cares about any of that stuff anymore  They certainly don't because we're getting to the root of the issue sellers absolutely every single seller i've ever met in my entire life And I think this will continue.

They want just a few things. They want the highest and best price, the shortest amount of time, least amount of liability, hassle, and expense. I've yet to ever meet a seller said, Robert, if you can get the least amount of money for my home, that'd be great. And if while you're at it, can you charge me as much as possible?

That's never happened. So it's, we just got to find out exactly what they're looking for and deliver that. And for those of you going wait a minute, dude, how do you determine the value of the property? So that's a big one that I hear a lot too. It's you have to go through and walk through and see what it's like to figure out what the value is.

And my answer is no, I don't.  The only one who's going to determine, determine value is going to be the buyers. So the truth is guys i've done listing presentations and people take their computers around and go here This is the bedroom and here's this and I can tell if it's a hoarder house or not And so at the end of the day that We're convinced that we have to do these things in a certain way And the seller is completely cool with it and because of how we do pricing  We start marketing the listing At a price below what we want to sell it for.

So we don't need to educate on pricing and we'll let the market determine the price.  And in 99 percent of the cases, the market's delivering more money than the seller wants. One of our agents in Las Vegas yesterday, seller wanted 475, 000 for the house. Ended up getting 503. Oh, all cash too. So at the end of the day, you don't have to go there to determine price.

You're going in there thinking that you have to do the CMA and do a listing presentation in the old fashioned way. And what I would tell you is that,  like on average, Robert, how long are you on the phone with somebody  on zoom? My appointments last anywhere between three and five minutes. And I'm not trying to be funny, but I get right to the question. 

Tell me about your value. How you think, how'd you come to that price? If we can address that elephant in the room, then I decide to either work with them or not work with them at that point. And I kindly don't even continue my call. Cause if somebody's digging their heels in on a million dollars and it's worth 800, that's the only conversation I need to be having.

Nothing else matters, right? We can't come to terms at least reality. Then the calls over most zoom calls take 20 minutes and I find the ones that go super easy are the longest Because they keep asking great questions And the more questions these sellers can ask the better So I schedule 30 minute calls and very few of them go over 30 minutes, right?

So just know folks it's a two step process. So when he says my presentation is three minutes That's the initial phone call to determine how realistic is this person? So I had somebody asked me a couple days ago Hey, what percentage of those FSBO and expired calls do you actually get? And I said, we take more than 90 percent of the listings for the motivated seller.

And they what does that mean? And it means exactly what Robert just said. If you're not going to take an offer  of anything less than a million dollars and your house is worth 800, 000, I'm not going to waste my time and effort. I don't, and that's one of the things that I tell people, listen, I'm not here to talk to you about listing your property.

I have no interest in listing it. I only have an interest in selling it. You want it sold. I don't get paid if it doesn't get sold. Listing does nothing for neither either one of us. So let's get real about what it's going to take to sell lists and get a price that's reasonable. If they're not reasonable at that point,  Why waste your time and effort?

And so think about it again, if you were in your market, and you have to drive in Southern California traffic. And that thing was like, call it 15 miles away, 10 miles away. That's an hour drive for you. And you go over there simply to find out that they're completely unrealistic in what they want.

You just blew two and a half hours driving back and forth and 30 minutes of talking to them. And you just wasted that time where now you can just say, you know what? You're Doesn't look like we're going to be a good fit to do this and move on to the next. I think that's the part people forget about, right?

I've actually, and I'm not trying to say to this to brag, but I'm saying this because I have as much confidence as I think one can have  when I meet with a seller and they're not realistic. I'm okay walking away from that because I know what kind of grief it's going to give me. It's my, the way I sell homes is a certain way.

Now I'm flexible and I understand I have a range. But I don't deal with unrealistic, unmotivated sellers. That is absolutely not happening because I've done it before. And I don't like that part of real estate. I like real estate with people that want to sell their home. That are great to work with. I want to create that environment and I don't want to work with nightmares.

Yeah. And the nightmare is never going to refer you anybody either, or if they do. It's another nightmare like themselves. Yeah, we don't want that. And so I've never understood why, and there's like pretty much every guru on the planet teaches, just take the listing at whatever price and then just start preconditioning them to lower the price.

I just think that's the dumbest thing ever. Yeah. I don't like that. And then six months later, when your thing expires and every neighbor is driven by it for six months saying. Oh, that, that agent didn't do crap. And then two weeks later, the new agent who got the right price anyway, sells it. And they go, Oh, that other agent must've been crap.

This new one's the new bad ass in the neighborhood. So I never thought that was logical to do.  And here's the good news folks. We get to pick who we work with. You have if the seller has the right to say no, don't you? So why work with people that are going to give you an ulcer? And so we just recommend don't do that.

I mean you can do whatever you want But we don't recommend doing it that way I think the biggest thing, Bob, is that we got to realize what the lowest hanging fruit is, in my opinion, the lowest hanging fruit on the cellar tree. We've talked about this multiple times. Fizbo's. They have their hands up there.

They're telling everybody, Hey, I want to sell my home and because they're not licensed, they don't do this every day. This is not what they do for a living. They don't understand that the tools that are available to them to make them get the highest and best price. They just it's a hope and a prayer because their friend at a barbecue did it, I think, expires.

They already showed that they were committed to the process for six months. 99 percent of the expireds I talked to, it's because the agent didn't price it properly. No, the agent didn't explain to the seller, you're listing it too high. They need to have that conversation. So I find FSBOs and expireds are the best with our platform.

It's amazing. Think about it. You're already Your house is up for sale.  They're most of them, 95 percent of them are willing to pay at least 2%, but most times 3 percent anyway,  and because of the home boss system, we could just go Hey, Robert, based on our platform,  I could do all the marketing, advertising, create the competition amongst buyers in your house. 

For the same thing you're willing to pay me and I can do the work make sure you don't get in trouble Eliminate all your liability. What if we just did it that way right because If you're willing to pay three percent, I don't have to argue with you My fee is three percent if you don't know what the home boss process is go to I think like Episode two or three of the podcast I walk through what that looks like And at the end of the day,  by  being upfront and honest with people, you're going to get transactions itself  and you're going to not waste time, which is the one commodity that we can have. 

And then imagine now Robert's out, parked by this beautiful lake, like that place in Dallas, that place was gorgeous. That was awesome. And then he's dealing with all these obnoxious people that can have the ability to ruin your day. Why do that?  No way. Why do that?  Let's work with the ones who are realistic and treat you well.

And things like that. There's plenty of business. There's plenty of business out there  to go out and get. I talked to an agent yesterday and I was, he was asking me a little bit about the platform, a little bit how I do my business. And I was explaining it to him and I tell him the age, the clients that I don't want to work with.

And we role played and we went over some things. I said, I don't want to work with these people, but I need listings. I'm willing to do that. I'm like, it's, you just can't be attached to the outcome. You got to remember that you don't want to work with somebody that's not realistic and motivated.

Don't just take a listing to take a listing.  That's a terrible marketing strategy. So I just, it's so many of us, it's hard to let somebody go away that could potentially be a transaction. That's a difficult thing, but you need to set your standards and live within that and have some flexibility, but not stick to your standards. 

And the key was when they say to you, Hey, but I need the listing.  No, you don't need a listing. You need a closing. There's a difference. And if you're going to take this listing and it's not going to close, and it's going to do nothing but create grief and havoc in your life, now it detracts you from going out and getting a listing that you could sell, that's a bad thing.

But that is a hard thing to convince an agent of, isn't it? Oh, it is. It is. It's, I think I found it to be one of the hardest things to do. Yeah, and it's not that we don't get it, folks. We do, but one of the things he's Robert's got 38. I've got 33 years in this. It's after all those years between God between us, dude, we got 71 years of doing this.

We're definitely in the damn almost as old as me. So at the end of the day, though, folks, we just over the years, we've been able to see that. So if you're relatively new in the business, you might not have the experience to do it, or, Hey, I get it. Gosh, I need a closing to do this, but don't take something that's not going to close and they're going to create grief and havoc in your life.

That's the best advice we can give you is just don't do it.  That's why the lowest hanging fruit so important and they're there. So what's your daily forget the days you travel. What's that look like for you guys? You're in a, you're in a market. I know you time block your stuff.

What do you do the rest of the time? When I, my, my number one goal is I focus on my mornings. We know we have our morning routine, our coffee, our exercise, our affirmations. We get fired up. We do our trainings in the morning. And if we travel, we leave no later than 10, get no, no earlier than four, or excuse me, no later than four.

And then I set my appointments. In the afternoon when we're not traveling like today. I'll do podcast. I'll do like I said, I took a listing appointment right before this call. I've got another listing appointment. I'm waiting to confirm for tonight. So I time block and I have open. Calendars for either agents that want to know exactly how we're doing this or sellers don't want to get the highest and best price.

That's truly all i'm really meeting with and that's you just got to put it on the calendar But you are getting some time to go out and do a little bit of sightseeing and stuff like that, right? What is interesting is we are definitely getting some sightseeing and we any camp we go into or any RV resort there, these aren't like park along the side of the road.

Yeah. These are pretty nice events. Actually, Michelle came by and spent some time with us here. And but we get our exercise, we get out we certainly want to go see the highlights of each area. Cause that's they balance that stuff out and it's been cool. It's been really good.

Cause otherwise you're just working. In a traveling tube then yeah, right? No, we get out. Yeah And the views and stuff as you're driving is also pretty nice usually right like mexico's beautiful Yeah, when you're up that high Looking down. It's a totally different perspective. The vantage point is so different from being in a car right being up high like that It's and carla's always videotaping and it's just we're having a blast.

Yep. Oh cool And yet not impacting your business. So how have the open houses been going with the people working your open houses? We had an open house last weekend in Fallbrook. This is a rural part of San Diego, upper Northern San Diego. It's,  you would think Fallbrook, you'd think, Oh, nobody wants to live there automatically.

It's obviously a great place, but most people think Fallbrook is being way out there.  It was pouring rain. We had three buyer agents.  On Saturday, three buyer agents on Sunday, but all knew how to do this. We had 125 groups in the pouring rain. It was torrential hurricane weather and we had 125 groups to the doors.

And so just let's clarify that too. When we say groups, folks.  For those listening,  if mom and dad and two kids come in, that's one, one buyer. So we think of it as buyer unit. Not, some people go, Oh, you had a 1, 224 person open house. You had to count every person that came through individually, even if it was a family of 10.

No, we count that as one. So if you have 123 individual buying units coming through an open house,  Is it reasonable to think that our open house agents, if we have three of them working, that a minimum they get three extra deals out of this? We had a couple of agents actually cause only one person gets the home, right?

Like you say, you turn one listing into five opportunities. That's what we do as well. I have two of my agents that I talked to that have buyers that they received from that open house. They're already putting in contracts. So it's, that's a great way for a buyer agent to grow their database. I talked to buyers all the time, buyer agents all the time, and they don't have a database.

That's the best way to start building it. In my opinion. Thank you. Yeah. And your agents are paying you a referral call, easy word, a referral fee override, whatever you want to call it. Absolutely. And then the company from what we pay them, they pay you an override.  So you're traveling around the country, taking listings.

You get all that commission when it sells your buyers, agents are working the open house, paying you a 25 percent referral fee. And the company is paying you referral fees and overrides on that on top of it. Yeah, absolutely. So it's awesome. That's a business model folks. Yeah, that's a business model that should be emulated  because listen, he's able to travel, whatever number of hours you're working a day, three, four, five, let's call it five hours a day.

So how many guys would, how many guys would trade place with them working 25 hours a week, taking two, three listings a week, having a hundred and some people come to the open houses, pick up buyers, have the agents pay you an override, and then have your company pay you an override on top of that. If you wouldn't want that kind of life, I'm not sure what life you want.

Yeah. We're trying to limit our five days, five hours a day to two or three max. We're doing everything we can to shrink that down. But anything else though, you'll get better and better at it as you move around. So I think it was a Saturday that I was talking to you and it was snowing in New Mexico and something broke, whatever it was, one of the switches or something.

Yeah we had some inverter issues though. And yeah, it was, that was interesting. And so all those things get in the way of folks. So it's not always, Rainbows and unicorns, but  he's diligent about that time blocking and prospecting  and everything else that comes with it. It's just, it's the adventure.

And just like we look back at that picture in Cabo now, we laugh and go, wasn't that cool? Like we had such a great time. Guess what? A year from now, you'd be going, Oh my God, wasn't that cool. Remember how that we broke down in the snow and it was so cold. It's like all that stuff.

Suddenly a year later, it's a lot more fun than it is at the time. Yeah, I can see looking back having a bigger smile than I do now but I tell you, I'll joke and aside, this is Been just ah, an amazing experience. We're going back to San Diego to, we have kids there. We have family there.

Every we're born and raised in San Diego. So we're gonna go back for two months, get reconnected with our community. Then we're gonna take another three month run at it up through Washington state, like I mentioned earlier and down around Idaho, Utah and hit off Colorado and come that way. So we're gonna That's our next tour.

I can't wait to let everyone know what our stops are. Yeah. So we'll have you come back in three month increments and an update, the main thing is folks is it hasn't affected his business at all  in any negative way and his buyers agents are doing what he's trained them to do  and they're thrilled to do it because they're in front of 120 some people in a weekend so that they can pick up buyers and get a paycheck.

And everybody within this system,  this process  is thrilled with how it works. In my opinion, that's how real estate should work. So I just thought it was important to give you an update, get a little bit different perspective on how this is going, both the good, the bad, and the ugly of it and do that.

So Robert, you want to close it out with the famous saying here? Oh, you know what? I have a lot of famous sayings, but I can tell you this. My favorite one is it works. If you do,  I think it's, I think it's We got to go out to the lowest hanging fruit, the sellers with their hands up. Because like you mentioned, Bob, and I think about this every single day, that one listing turns into five opportunities.

That is how you leverage your business. I think it's best that you streamline and have a life, don't just be so focused on trade tasting people that don't want to be chased, chase the ones that want to be chased. That's what I look at it. For me, it's always, if you list you last, I didn't want to take your, it was okay.

I put it on a T for it, but that one worked good. So folks hope, hopefully that helps. It gives you a little different idea and maybe just a different perspective of what's possible. I know I hear it all the time. It's Bob, you're nuts. Like, how do you come up with this stuff? You're just the craziest stuff.

And I'm sitting there going, man, look at the life. These people are living. It's I think it's pretty cool, but that's just me. I can tell you this, Bob, that Whoever is listening to this really pay attention, dive in. There's so much opportunity. And I've told you this multiple times,  there's not even copycats doing what you're doing.

It's so cutting edge. And I tell you,  it's just amazing to be a part of your organization. The family, your wife, your kids, your whole organization has just been a blessing for Carla and I. And we just thank you so much for you. You provide so much and I'm just so grateful. I appreciate it, but it wasn't about that.

It's just but you're right. Those that go out and do it are, will be the ones that have that success. But at the end of the day, again, I know I have a lot of people tell me I'm crazy. I think this is the most exciting time ever to be in real estate. You're gonna see a lot of people that don't want to be professionals leave.

That's a good thing. It allows you to pick up market share. If you're a listing agent, you can get market share. If you're a buyer's agent, you can't do that, right? You can't say no, I don't want to sell a home in Fallbrook or wherever. to get market share because I don't want to go there. But if you want to focus on listing in a specific area, you can do that.

You can't do that as a buyer's agent. So  think big, think differently, get outside the box. This is an exciting time, right? We went through the buyer's presentation that I created the other day. And I'll be honest, as I was creating, it was like, man, I'm excited to get out there and talk to some, because I'll get them to pay us.

So I think it's an extremely exciting time to be in real estate. For those that want to be that professional and provide value to the client educate yourselves. I posted something in our Facebook group the other night. It's like the highest highly paid equals highly trained. You just keep doing what you're always doing folks.

You're going to keep making whatever you make.  So with that, we'll talk with you next week. And remember, if you list, you last. Talk to you then.