TAKING CORRECTIVE ACTION. Business Tip: What to Do When You Make a Dumb Decision✅ “Never delay taking corrective action once the problem has been recognized”
😳 If you’re like me, that hit you hard...
Take a listen here on this week’s business tip as we dive deeper into The Road Less Stupid.
There are so many great lessons in this book that we want to share more with you....
Matt Fetick on Successfully Running Multiple Businesses & Putting Clients FirstAbout the Episode
On this episode, I’m joined by real estate team owner, coach and someone who is equally a student and a master of our industry and our craft, Matt Fetick. He already knows a lot, but has never put continued learning on the backburner for himself and his agents. He has built a real estate and business empire that doesn’t just span states, it stretches to England too! He focuses on unlocking high productivity, seeing solutions not setbacks, and reminding agents that the deal is never about them.
Matt Fetick is the Owner and CEO of The Matt Fetick Team, which he started in 2006. His care for clients and calm in any crisis were drawn from years as a police officer and a paramedic. Matt has quickly become the leading real estate agent in the greater Philadelphia region ranking in the top 100 of Keller Williams Real Estate internationally and number 1 locally. Matt's team delivers excellent real estate services to buyers, sellers, builders, banks and short sale loss mitigation. Matt teaches real estate agents and is a highly sought after speaker both in the United States and Internationally. He owns and operates not only a successful sales team, but also 3 brokerages, a title insurance agency, a mortgage company, and real estate investments.
It takes a certain level of being of service to be able to achieve the level of success that Matt has, and it all starts with understanding that we are consultants who are there to serve the client not the deal. Most agents think the customer is their buyer or seller but the problem with agents is that mindset gets in the way of serving the client. We need to always remember that once the client signs an agreement with us, we are no longer salespeople, but consultants who are there to serve them. The minute we treat the deal like it’s ours, is the minute we lose sight of what we’re in this business for.
In Today’s Episode, We Talk About;
05:45 - Taking advantage of the short sell market.
11:03 - How agents can get out of the way of the deal.
16:15 - The biggest financial mistakes agents make.
25:21 - Running businesses in different countries.
34:47 - Teaching and being impactful online.
42:55 - Top pieces of advice for a successful life
Website: https://mattsmasterminds.com. To get a 10% discount off the training course the promo code NEXTLEVEL.
BUILDING A LEGACY-WORTHY LIFE & BUSINESS. Interview: Pat Hiban and Kevin KauffmanAbout the Episode
On this episode, I’m joined by inspirational entrepreneur, speaker, podcast host and co-founder of GoBundance, Pat Hiban. He has built an incredible legacy that goes beyond real estate and business. He has put work into helping other entrepreneurs build legacies and inspired the masses by showing what it takes to have staying power in entrepreneurship. Pat has done the leg work in the real estate business, including being a pioneer in the realm of building a real estate team, growing a team of 54 members, losing almost all his savings in the stock market crash, and building it all back up from the ground. Now, he’s on a mission to inspire people and provide much needed mentorship to those who need it. He wrote “6 Steps to 7 Figures, A Real Estate Professional’s Guide Building Wealth and Creating your Destiny.” He co-founded GoBundance, a mastermind organization that has grown to 200 members. He has taken this further by writing a second book Tribe of Millionaires, in which Gobundance members share valuable life lessons.
In our industry, one of the things that’s really lacking is the combination of hard work and consistency, and as a result, many agents are failing to build businesses that have long-term success. Another big issue is the lack of mentorship for all of the agents. Pat and other top-producing entrepreneurs are evidence that success requires us to roll up our sleeves, stay consistent and persistent, put ourselves around the right people. “Proximity is power, and it does matter who we hang out with. We can all get better from the sum of our parts.”
In Today’s Episode, We Talk About;
02:54 - How Pat grew a team of 54 people.
08:19 - Marketing campaigns, main lead levers and the value of follow-up.
16:53 - How Pat lost $800k in retirement savings in the stock market crash and bounced back.
22:06 - Pat’s new book, Tribe of Millionaires
27:50 - The value of masterminds
Pat Hiban is an Author, Speaker, Podcast Host of Real Estate Rockstars and Co-founder of GoBundance. He is also an avid real estate investor, and a venture capitalist.
To get a FREE copy of his new book Tribe of Millionaires, and only pay for shipping, go to https://www.tribeofmillionaires.com/.
Buy the Kindle version of the book here.
How to make tough decisions and get clarity as a Real Estate AgentHow to make tough decisions and get clarity as a Real Estate Agent
Industry Headlines with Kevin and FredCalifornia nears statewide rent control
Now awaiting sign-off from Gov. Gavin Newsom after state's two legislative bodies both approved the measure.
The bill will cap annual rent increases by 5%, including the rate of inflation. In addition to the rent cap, a bill known as AB-1482, the Tenant Protection Act of 2019, will allow “just cause” eviction policies to qualified housing in California.
California, one of the nation's priciest housing markets, is following Oregon’s footsteps in enacting rent control. In March, Oregon approved a law placing an annual limit on rent increases of 7% plus inflation.
The bill appears to have Newsom's support, as the governor tweeted that “The rent is too damn high -- so we’re damn sure doing something about it” and “Because there should be a cap on how much you pay for rent...Because your landlord shouldn’t be able to evict you for no reason.”
Zillow Offers is live in San Diego
San Diego is the 17th market to offer homebuyers quick-close, all-cash offers from the real estate tech giant - San Diego is the 17th market for its 17-month old iBuyer platform Zillow Offers. WOW!
Ben Kinney partners with early mentor for new real estate coaching service
Forward Coaching is the joint effort of Debbie De Grote and Ben Kinney Companies.
Average FICO scores hit all-time high
The credit reporting firm said this week that the average score has now hit 706, marking a dramatic turnaround from a decade ago when average scores bottomed out.
FICO vice president for scores and analytics Ethan Dornhelm wrote that “there have been nine consecutive years of increases in the national average FICO Score” to bring this year’s average to 706. Average scores had previously bottomed out a decade ago, in October 2009, during the housing and financial crisis. At that time, the average score fell all the way to 686.
“The key driver of this trend,” he explained, “is the improved consumer financial health that has resulted from the steady economic growth that the U.S. has experienced since the Great Recession.”
COMMITMENTS VS. GOALS. Business Tips for RealtorsWhat’s the difference between a commitment and a goal?
Is there a difference to you?
There is a huge a difference to me us and we’d like to share why with you in this quick episode.
Realtor Kenny Klaus, embraces iBuyers to grow his farming based businessIn today’s episode, we’re talking to Kenny Klaus, a successful real estate team owner, entrepreneur, and co-founder of iRealEstate Pro. After working at FedEx, he started his real estate career as a side-hustle and then leveled up to full-time. He started with the goal of getting out of debt, which he succeeded and exceeded by eventually starting his own highly successful team. With over 20 years in the industry, he’s an agent who has grown his business through solid business principles, kept consistent for a long period of time, and it has paid off. He has stayed really attached to his why, and doing that extra degree of work to move the needle. He is also passionate about arming agents with the tools to survive and thrive in iBuyer markets.
Kenny’s success is all about being consumer-centric and going back to the most important part of our job as real estate agents, which is being the best possible representative for our clients, and with the advent of iBuyers, that includes educating them about this new disruption. This has led him, along with Dan Noma, to create iRealEstatePro, a resource for real estate agents.
Many real estate agents are struggling in the world of iBuyers, and the bigger problem we’re facing is that we’re being left behind because we’re so divided in our industry, making it easier for disruptors to overtake us. If we unify in our message, and our goal to serve the clients and represent them at the highest level, we can thrive through the iBuyer revolution. It doesn’t matter what brand you’re with, we’re all Realtors and we need to get on the same page about how we’re messaging this new market we’re in. The truth is our customers want control certainty and convenience, sometimes even over equity, and if we present them with those options, we won’t just survive, we’ll thrive.
On this episode we discussed;
02:55 - Why many part-time agents fail to make the transition to full-time.
10:23 - Why drive and motivation need to be constant and consistent.
20:45 - iRealEstatePro and how it helps agents.
30:23 - How the real estate industry can unite in the face of iBuyers.
Kenny Klaus is the Team Leader at the Kenny Klaus Team Real Estate Solutions and co-founder of iRealEstate Pro. With 20 years in the industry, Kenny is recognized nationally for his excellent track record and expertise.
Website: irealestatepro.com use the code NLA2019 to get $100 of the course.
Industry Headlines with Kevin and FredPrivatize Fannie Mae and Freddie Mac
The Trump administration released its long-awaited plan to reform the nation’s housing finance system and privatize Fannie Mae and Freddie Mac, calling it the "last unfinished business of the financial crisis." The recommendations include: "simplifying" the Qualified Mortgage rule and eliminating the so-called QM patch that allows Fannie and Freddie to sidestep some regulations; reducing "unnecessary regulatory impediments" for private-label securitization; and promoting private-sector competition.
Realogy makes major structural changes amid market stumble
The company is consolidating its Coldwell Banker operations, launching an expansion brands portfolio and carving out a new product and innovation footprint
Amidst the changes, Better Homes and Gardens Real Estate CEO Sherry Chris will shift into a new role as a chief executive across the expansion brands portfolio of Better Homes and Gardens, ERA Real Estate and Climb Real Estate, for which she’ll be tasked with building a leadership team. ERA Real Estate CEO Simon Chen will head up Realogy’s new product and innovation team.
Former Realogy exec temporarily barred from Compass' alleged 'dummy' job
A New Jersey judge says Compass was complicit in accepting proprietary information and created a 'dummy job' to recruit Urvin Pandya
IBuying giant Opendoor acquires title and escrow company
Opendoor believes that by acquiring OS National it will be able to provide consumers the 'most streamlined and easiest closing experience'
Zillow seeks $1.1B in fresh capital
The company is offering $600M in senior notes due in 2024 and another $500M in senior notes due in 2026
HOW TO GROW YOUR SPHERE OF INFLUENCE FOR REAL ESTATE.Ok, so now I have my sphere, what the heck do I do with it?
And more importantly, how do I grow it?
I know this sounds crazy, because everyone things they’ve got it under control
What I know from coaching agents from all over the country is that very few of us have an effective plan to
1. Communicate with them
2. Grow the number of them..
Listen to this quick episode for some tips on doing these two things with your sphere…
Industry Headlines with Kevin and FredOn this week's episode of Industry Headlines with Kevin and Fred we discuss:
Redfin to publicly display buyer's agent commissions on its listings
Opendoor is now a mortgage lender, launches Opendoor Home Loans
Amazon dives into home sales with new $105K property
AS of January 1, 2020, VA Loans No Cap Guaranty
KASH-WAYNE CAMPBELL TURNED HIS REAL ESTATE JOB INTO A THRIVING BUSINESS.INTERVIEW WITH KASH-WAYNE CAMPBELL AND KEVIN KAUFFMAN
On this episode, I talk to life-long entrepreneur, team leader and broker, Kash-Wayne Campbell. He is a seasoned real estate professional, who manages to not just balance a sales team and brokerage responsibilities, but to run all his businesses smoothly and efficiently. He achieved the amazing feat of starting a team in his second year in real estate, and now 7 years in, his business is booming, but he remains dedicated to training his agents and pouring into his people. Kash-Wayne knows what goes into successfully levelling up from having a job to running a thriving business, something many of us aspire to.
Kash Wayne is a team leader, and a broker at Fave Realty. He was bitten by the entrepreneurship bug early in his life and got his start in business in the entertainment industry. He went to the next level and joined the real estate industry, and his passion for the job and his drive to succeed saw him grow so rapidly that he soon needed to hire more agents. He made the transition from agent to business owner seamlessly and hasn’t looked back since.
In our industry, many agents are stuck on the transactional hamster wheel, and they never manage to turn the job into a business that can give them freedom. On the other hand, a lot of the people who do build a team fail because they didn’t do it at the right time. Before we grow a team, we have to grow as agents and then as leaders. We have to be highly knowledgeable about the business, so that we have something valuable to teach the people who are joining our teams. If we skip this step, our teams will fail to perform and eventually fall apart. “Become great as a real estate agent first, then bring on other people. Build yourself up first, then start to build the team.”
On this episode, we discussed;
02:27 - Kash-Wayne’s journey from club promoter to real estate agent and broker.
12:06 - How he balances a sales team, brokerage responsibilities and a family.
15:57 - Why coaching and training are a huge priority for Kash.
20:19 - Tips for growing a team successfully.
23:28 - The importance of creating room for people to grow in our teams.
Kash-Wayne is a top producing real estate agent, investor and broker at FAVE Realty.
Realtors: HOW IS YOUR SPHERE OF INFLUENCE? Business Tip: Get Organized and Provide Value❓How is your sphere of influence ?
❓Could it be better?
✅ Maybe you’re like me and need some help
This week’s business tip is part 1 of a 2 part focus on helping you to provide value to the people who know you best.