The Importance of Staying Fluid in an Ever Changing Market

This podcast was created by Real Estate Professionals for Real Estate Professionals; Brokers & Agents a like who are looking to “LEVEL UP” their business and their life WITHOUT all the BS and FLUFF. Each show has actionable information you can put into practice immediately and take measurable action so that you can experience measurable results!

In this episode we explore The Importance of Staying Fluid in an Ever Changing Market.

The market has been shifting…. Buyers are starting to chomp at the bit for some seller concessions… New agents that jumped on the list at anything bandwagon are starting to sweat a bit… sellers are having serious FOMO……Did we miss the Gold Rush?! This was an incredible episode. To dive into this ever important topic I have an incredible Guest Co-Host who is going to help us explore in great detail this topic. This guy is an absolute Bad Ass he has graced many stages, has the first certified continuing education class on crypto and crypto in real estate and is as real as they come. It is my esteemed pleasure to introduce  Josh Cadillac;  he absolutely brings it as always and this episode will not disappoint!  (Don't Forget to check out Josh’s Podcast!... Link Below)

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Transcript

0:01

Welcome to the level up your real estate biz podcast. This podcast was created by real estate professionals for real estate professionals who are looking to level up their business and their life without all the BS and fluff. Hello, and welcome. My name is Lucas Rowell, and I am your host very excited to have you all here with us today for Episode Six, the importance of staying fluid in an ever changing market. So each show our objective is to give you the tactics behind that strategy, so that you can immediately put into practice what you've learned because measurable actions lead to measurable results. So I'm super, super excited to introduce my co host very special guests for today's episode. This guest has an absolute incredible wealth of knowledge is an absolute badass in life and in real estate trainer and coach. He's in the trenches every single day, helping agents to level up. So please help me welcome the man. The myth, the legend, Mr. Josh freakin Ketorolac. Lucas, thank you so much, buddy. Thanks for having me on. Yeah, brother, thank you for taking the time. I know you were just chatting a little bit before the show started. And you said you, you know a lot of the things that you've been up to today that are kind of sandwiched that were before and now after are playing right into what we're talking about here today. It was you Lucas, if there was a way to squeeze it in and make it happen for you, brother. Get it done anytime I can. Absolutely. Absolutely appreciate you, bro. My pleasure. So super excited to have you here. You know, my team, as I mentioned, as I may have mentioned, right, we have the we had you for the crypto webinar, right? Crypto and real estate. That was absolutely incredible. Agents still talk about it today. They're like, Man, that was just, like you said earlier, you know, drinking from a firehose, right. It's a lot of information. But, you know, it's an ever changing market. And that was, I think, for a lot of them really an eye opening opportunity to really see what's coming and to kind of think outside of the box a little bit. So you know, with this market shifting, very excited to chat a little bit more about that. So today, we've got right, we were talking about the market has shifted, buyers are chomping at the bit for a little bit more of those seller concessions, new agents have jumped, jumped on that we're listing anything, you know, the over the last two years, they're just like, oh, this is really easy, real estate's awesome, right, and they're going out there buying their, their, you know, their Mercedes, and they're getting their gold watch. And like, this is wealth builders all over. Right? But that isn't really what it is, is it? No, I mean, there's real real estate, the real real estate is is understanding what you're helping customers to do that that's really what it comes down to is under your your place, your existence is there by virtue of your product knowledge, right? The reason the customer is coming to is because of your product knowledge. So the ages that buy into this, like I need all this flash and bling to seem like I'm established, and you know that i You've taken advantage of a market shift to take and base your business upon. That's foolishness. It's absolute silliness, you know, you have you have to establish something that's sustainable. And realistically, like it crushes my soul because you know, I hear that the buy the car, and I'm sitting here No, get long and real estate. That's where you got to be like, it's, I can't help it, man. It's where I'm at. Because I love this product. I love this thing that we sell man. And if you want to talk about being in the right thing at the right time. Oh, man, we are there. I hear you. Yeah, that's something I've talked about with agents and people a lot. I'm like, Man from surfing the surfing standpoint, you know, we're, we're see the wave, it's coming in, we're not too far in where we're just gonna get tumbled. We're not too far out where it's going to float under where literally, but again, only if you have the skills and understand how to use those skills correctly. Right? Otherwise, you're gonna miss that opportunity. You know, there's, there's so many things that go into running a real estate business. Well, that agents get distracted with things, you know, how do I make a better marketing piece? How do I as opposed to how do I understand what the very thing I'm trying to sell is? Because maybe that considering sales isn't the title of my job? Maybe I should take it understand the thing I'm selling well, and that might help me I know. It's crazy talk about Lucas. I'm a crazy guy. You know, I come up with these crazy ideas, right? But yeah, get the product get down first start there, believe it or not, right listing almost sells itself, if you just simply know what's good about it outstanding? Well, I'm definitely definitely looking forward to jumping into that. But before we before we really, really get into the meat and potatoes of what we're going to be talking about today, could you share maybe a little bit about us those that maybe have heard you before, or haven't heard you before, and kind of what you're doing in real estate, where you started what you're doing now and where your focus mainly is? Sure. So um, I think we have a lot of people start in real estate is kind of my story. I get it out of I don't say desperation, but a lack of options. At some point. I was my family had been in real estate investing for years. I continue that after my father passed away and move forward, we had a lot of commercial real estate that we owned, and we had the brilliant idea to go into a couple of restaurants, things were going well growing, everything is fantastic. By the way that I mentioned, this was around 2007 that I did this. And so while we were in not over leveraged positions in any of these assets will be not over leveraged when 2008 happened. You went from being in a fairly safe position to Bing now you are incredibly over leveraged not enough money to pay the debt service, we went up losing most ever, I pretty much lost just about everything Lucas, and had to start all over again, in 2008. And so I knew that I knew real estate investing well, from the standpoint of you know, I just I had been around and I will talk about I was like, you know, they were confused by stuff. I'm like, No, this is how this works. Because, you know, unlike most agents that are trying to talk people into doing something that they've never done, this is something I actually, you know, had some experience with. So I said, let me go take and basically go to Gold Coast, who is the, you know, licensed people there and take everything they have on everything. So I got my general contractor's license, I got all my licenses all at the same time. And real estate was the one that the opportunities just sort of presented themselves with. And I move forward with most, most diligently and so within the first year or two in the business, I became a top producer. But I held on to we have kind of a society right now that looks at all negative emotions as things to be eliminated. I'm a big believer in maintaining certain negative emotions, because I need those to keep the Spurs to me, I need those. And one of the big ones that I believe in is fear. I was afraid at the beginning that I wasn't going to know something and it was gonna make me look like an idiot. And so I wanted to make sure that that never happened. And I use that fear to in the first couple of years I was in the business to absolutely take every piece of education that I possibly could I got my CRS GRI CCIE Am I got them all done in my first two years in the business. And, and that really helped me gave me the leg up. Because well, I don't think those things cover everything. And they they don't even come close to covering everything that needs to be done, they will be some foundational knowledge, some confidence to go forward with that I wasn't going to get caught in that position. And I sort of embrace some some basic ideas. And one of the biggest ones that I always encourage people to do is to never say I don't know the same thing twice. I can say I don't know, once you're allowed, you get my full permission. If there's anointing oil, I'm gonna take him down with that they can say you got my blessing, you got my blessing to say I don't know, once but never twice the same thing you say it twice, it means you don't know you don't care enough to find out, which means you shouldn't be in this business because you don't take it seriously enough. That's my opinion. And so that's how that's the standard I've held myself to and, and it helped me in this business to get ahead. Okay, and so, that's, that's where it started. That's where the you know, and obviously, you can see the amount of passion behind your voice and I love it. And I think you have to be passionate about what you do. Otherwise it just becomes a job right? You can tell that this is truly something that you love. It's good stuff, man. I mean, we sell a great thing so it's easy to care about it. 100% So how did you take that transition from so and you know, our sincerest condolences for the loss of your of your father? Oh yes thank you long time ago but but like so so you go from being an investor during like super scary time right there are a lot of a lot of fortunes broken right there right but then and a lot of people were just like, Okay, this isn't for me and I got up I how do you take those pieces right? You stack them together? You got in you started you know you took every every bit of knowledge that you could you know, every course every different certification to learn. And then you became you know, an agent, but now you're now you're teaching others like how did that transition occur? What what were was there a tipping point was there How did how did that happen? Well, it's kind of a tough thing, because speaking publicly was like anathema to me my entire life. Never wanted to do it. I resisted it with every ounce of my soul. But I was taking so many courses that actually was somebody at at The miami realtor Association said to me, you should teach a course because I was talking about some stuff outside of the course you should teach a course. And I was kind of planted that seed in my head. And so I said to them, alright, well, they said, Look, if you ever do it, you need to speak to this person, they gave me somebody's card. And so I started working on it. And but the thing was, like, I used to have to teach sitting down, because I was so nervous standing up, my knees would shake. And I'd like I, I mean, it was that bad. And this has been a roomful of people agents at my office, you know, I have 10 people there that I all knew. I mean, like, if it wasn't a format of teaching them, I would have been completely fine. Yeah, hey, guys, come take a look, no problem. But the fact that I was teaching, it was just couldn't do it. And so I grew from that I learned that I kept pushing, because I really, genuinely see so many. Let me take a step back here and say the people that I find that I get a meat in the classes that I teach, to me tend to be the best parts of real estate. And what I mean by that is, these are the agents that recognize they've got a problem and are trying to fix it. The other agents, the ones that scare me, are the ones that don't show up to the class that are getting the book and just renewing their license, right? These are the ones that give us a terrible name. And so these folks I feel genuinely bad for because they're pursuing the information, they don't know where to get it. And I'm not gonna lie, Lucas, it's the actual relevant information. It's not readily available. I mean, the stuff you get from classes is just 98% fluff and 2%, maybe essence, there's maybe 2% there that like, yeah, that's the good stuff. But everything else is like, get your debt, you know, know, your DISPRO If I fight, okay, once, maybe my DISC profile, but the 5000 I'm like, I know what I get it, I got it, let's move on, you know. And so you know, there's a place for all that stuff, right, but trying to take it and move the ball forward and really come with, with knowledge that's going to take an end, make sure that you're always knowing way more than your customer does, so that you always earn and deserve your seat at the table. That's what I wanted to give agents. I love it, man. And that's, that was exactly what you're saying, right? There is exactly why we started this podcast, right? When we say cut through the fluff, right? There's a lot of it out there. There's a lot of unicorns and rainbows. And, and you know, that's great. But on the same token, we want when we when we talk to somebody, right, or when we finish a show, we want you to be able to take that and actually put it into action. But like you know what, here are three key takeaways here is something that I understand that I can literally implement into my business today, tomorrow, right now, and take action and see immediate results. Absolutely. Look, I mean, let me take him and just throw throw a rain cloud out there. That is the real world, real estate is going to be hard. There are probably going to be nights where you will cry yourself to sleep and feel like a failure. And if you're doing that, if that happens to you, you're doing everything the right way. Because you know what? All of us have gone through this maybe not in tears. But there have been nights where we question every freaking decision we've ever made. Right? And so look, that's what to expect. I want agents to know a look this. I don't want you to sit down like why does it feel like this? I must be doing something wrong. No, you're doing everything right. It's a hard business. Yep, for sure. I love it, man. Well, so let's let's jump right into it. So as we said in the intro of our episode, we said today is the importance of staying fluid in an ever changing market. When I see that statement, what is how does that make you feel? And what does that mean to you? Well, I mean, the first thing that came to mind when you said it, and it's maybe a cheeky answer a little bit was job security. The fact that the market changes is the very reason why they need me, right? The customer needs me because the markets change if the market stayed the same of you know, it would just be a matter of learning how it works. And they could just do it themselves. The fact that a change is what enables us to take and stay in business. And so the cool thing with real estate is it's not like the stock market where when it changes, it changes its mind in a nanosecond and runs right with real estate. It happens slowly, you can kind of if you know what the signs are to look for. You can see what's happening. And the cool thing with real estate, the class that we did together was crypto, right and one of the things that I like crypto I like the idea of like everything about it, but the one thing that scares me as an investor. Right? And that's always the hat that I bring to my real estate stuff with is the risk component of it is I don't have a history with crypto to go to, which means I don't know how crypto is going to react to let's say the Federal Reserve raising interest rates. I don't there's not enough history for me to see how it behaves. Whereas with real estate I had this beautiful long history of how has behaved under all sorts of economic pressures, which of course, religions and mainstream real estate completely ignore? Because why should we pay attention to that? I mean, it literally is our best hedge against the risk that our customers are worried about. So of course, let's completely ignore it. And so when it comes to the market, Lucas, that's what I think about, I think about this beautiful history we have and how it allows us to see this giant cruise ship, that is real estate that turns very slowly. But predictably, we can take and predict which direction it's going and set ourselves up to be in the right place for when the ship gets there. Exactly calculated risk, right, understanding the leverage. Absolutely love it. I love it. So all right, let's just throw it out there. What are your market outlooks and predictions locally and nationally? If I just let's just go down that road? Okay. So locally, and when I say locally, let's say state, Florida statewide, I project that Florida statewide will do well, I think our sub market will continue to do well. And I think it will actually probably slightly outperform the overall Florida market. I think that you're seeing going to see downward pressure on prices, which is good, because price appreciation of 30 plus percent annually, is not sustainable. Nobody wants that there would be no affordability of homes, especially with wages only going up 4.4% This past year. It's not sustainable. But Florida has done a good job. For whatever reason of coming through the pandemic, it has allowed for a reprice. I mean, I was asking somebody the other day, you know, New York, San Francisco, Chicago, why would you want to live in one of those places? Right? I mean, like, what are the good reasons? Well, you know, wages are high there. Well, the wages are high there because the businesses are there. But if the businesses weren't there, and they were someplace else. And so I think what happened with COVID was a lot of businesses got a chance. Now the employees aren't in the office anymore, sitting there saying, Why the hell are we here anyway? Like, why are we here? And so they've chosen to take and change and so many of the things I mean, look, there's you in Florida, you're not going to have 46 playhouses to go to the theater. But you know what, they have Broadway shows going in Miami and Fort Lauderdale pretty much every night as well. So I mean, like you there's, it's not a cultural backwater, down here. So there are some reasons to be those other places. But realistically, I think that what's happened is we've we're seeing a permanent reprice with Florida, the in migration to Florida, is so high, it seems like a huge gap that existed between pricing in San Francisco, New York and Chicago, that that gap is going to narrow I don't think it's going to go away. But the geographical things that made New York, Chicago and San Francisco, these economic hubs, those geographical things were largely water based, maritime traffic type things that now as we look at, you know, why are we doing this? And so I think that we're going to, we're going to be beneficiary of that in in Florida. I think that with the inflation that we're seeing, one of the lines that I tell people all the time is, especially customers that are very adamant that this is a bubble, say, Well, I understand what you're expecting, what you're telling me is now that real estate, for the first time in its history, is going to go down in price during an inflationary. So what you're saying, because the next time that real estate prices go down in an inflationary market will be the very first time in history that it's ever happened. So you're telling me that we are in a circumstance right now that these economic pressures have never been applied to real estate and real estate is now going to be a differently than it has ever in its history? I just want to be clear that that's what you're saying to me, Mr. Mrs. Customer. And with that in mind, it kind of blows up that little, you know, oh, it's 2008 all over again. It's very different than that. It's an inflation hedge it literally it's good look. On the data guy, right. I have a class on inflation. And in fact, I'm teaching it from Miami and August 16. Right. The overall inflation from 1970 to 1979 was 103.4%. The real estate appreciation that same time with interest rates more than doubling in that same period of time. 177.6%. So not only that real estate, keep you from losing any money. With interest rates going more than double. You made 70% of your money for the decade, seven zero. I don't know average home price, by the way. 1970 was 17,000 bucks by 1979 1980 47,002. Not a bad day at Black Rock. Right. So my prediction is, this market will behave just like every other inflationary market. Real estate has ever gone through Surprise, surprise, real estate will do well, and rents will go up I know but with interest rates going up why are people going to they can't buy here's the thing, folks, I'm a landlord to you. If I know interest rates just went up, it's more expensive for you to the alternative, which is to move out of my place. So guess what I do to the rents, I take them up, because I now have the economic pressure is there to allow me to do that. So the rents are gonna go up those rents going up, are going to apply additional pressure to those renters to take and make them have to buy because they're friends who chose to buy instead of rent. They've had incredible wealth, growth and equity that they've lost out of by being a renter. How do I know what happened last time? It's that simple. Yeah. Yes. Basics of supply and demand, right. And that's something we've been talking about a lot, a lot a lot on our team is like me, us being a landlord as well, we're looking at these opportunities is like, what, what else could happen? I mean, you know, there, there's no other religion, it's you, you buy or you rent, or that's it. Or you, I guess you can move in with mom and dad, right? You can call them back up, but they don't want people like, oh, there's a recession. Okay, so wait a second, when there's a recession, people go that people disappear. They go, they're no longer consumers, they have to rent or they have to buy, I mean, what are they going to do cease to exist? Because that's the third alternative. Or maybe you're right, go back to mom's basement. But as you said, mom doesn't want them there, either. So I mean, it's, there's kind of this fantasy land of very poor economic and economic understanding of like, just what happens when economic pressures are applied to people. Economics is the study of what happens when pressures are applied to markets. It's really what we're looking at. And so that's exactly what we're talking. We've seen these exact same pressures applied. We've seen recessions. We've seen stagflation, I was talking about stagflation, mid 2020, I was saying we're going to have a stagnant economy and inflation, folks, guess what, that's where we are right now. Today, we have growth, GDP loss, our economy is shrinking. And at the same time, we have inflation. Yeah, well, I mean, in that, that love a love your break down to that. And I couldn't agree more, especially with our local market, us being here. And in Miami, you know, I've heard it explained as Miami was in its infancy, right. People used to start, they'd get successful here, and then they'd move other place right there moved to Silicon Valley that moved to New York, New Jersey, but it's grown up. Right now. Commerce is coming here, people are coming here. And like you said, there's so many different factors that for each and every person, each and every business, it's a little different. But at the end of the day, we've positioned ourselves very well. And it's just continues to show in the numbers. So I agree with you, man, it's, it's gonna be really interesting. I think there's, it's to take one of Brandon Turner's comments that he made the other day he goes, we're gonna get to see a lot of people who have been swimming naked, right when that tide goes out. And I think there's been a lot of people that have been, without nests, the necessary skills to thrive in any market, and they were just kind of living off of, and for me, right, where, where I always started to get concerned, was, you know, when you start to see the social circles, that maybe weren't talking about finance and winning every day, and like, Oh, these stocks, I just made another $10,000 I made when I started to see those conversations happening, not because the education level went up, but just because it was so easy. That's right. It's like, oh, we're getting close to the position. Absolutely. Start shorting. So Alright, so let's take a look here. So right now we've got a shifting market, we've got agents that are some of the agents that have been relying on on just the market momentum alone, you know, they're a little nervous or like, Hey, what's going on some that have been in the market for a while, you know, we tend to you know, a muscle only grows under strain right? So maybe we haven't been at the gym the last two years, last several years, maybe. And now we're having to get back to it and pick those up and be like, Okay, let's, let's really get back to the the nuts and bolts of what it is to be a professional. Where do you feel that the largest deficiencies are right now with agents? To me, the biggest thing that I see is agents do not understand the market that they're in. And, and in addition to that, there is a true sense of helplessness of of how to even start to do that. There's like, it's such a big thing like how well it's kind of like how you eat an elephant, you get a knife and a fork and you start right I mean, that's the only way that they can do it. The longer you take it and stay in panic mode of how's this ever going to happen? You know, maybe you get a nice aperitif and you know you start know on away right but To me, and if we're gonna call practical things, practical solutions to that, for me, download a business news app on your phone, and never open it. Just take and set the push notifications on, when the push notification comes for something that has anything to do with wages, inflation, interest rates, any of this stuff, look at the look at the notification, click the button and read that. That's it. Seriously, that's how I get my news now. Because you know, I don't want all the extra stuff. I don't want all the political stuff. I don't want all the noise. I just want the data that's going to backup whatever position that I think makes sense that the data that the data leads me to, and so having that there to sit there and say, what are the questions I asked agents, because this is how agents should be thinking about the market. When the war in Ukraine started. I asked agents good or bad for real estate. And of course, you get a Porky Pig. But I have been able to have I don't know. And so I said, Well, let me ask you a question. Because this is right at the beginning of the Federal Reserve, we talked about raising interest rates and all. If does the war on Ukraine in Ukraine put additional strain on the US economy? Oh, yes, yes, yes, no, that definitely puts additional strain on you. Okay. So what is the thing that is slowing or holding the Federal Reserve back from raising interest? Well, they don't want to cause a recession. Exactly. So do you think it makes it more or less likely the Federal Reserve will raise interest rates sooner because of this additional pressure applied to the US economy? Oh, well, I guess it'll make them less likely to raise interest rates? Oh, well, do you think that's good or bad for real estate? Oh, that's probably good for real estate. It's just putting the pieces together, of sitting there and saying, look, it's only guys, it's two things, it's supply and demand. That's it. If you just track how those two things are gonna be affected, you'll be okay. And so it may be it seems like it's a lot, and there's a lot of these moving pieces. But it's really more simple than it needs to be. And the other thing that I see, that's always a huge problem is we in real estate, and I say this, this is a pin 11 A real pandemic, this is a pandemic, we get the customer wrong, flat out, we miss who they are, what they're about, we don't get it right. This business is tripping over itself to find new and better ways to be friends with our customer. If we can just get the customer to like us, like the customer is sitting there thinking themselves, geez, I really don't have enough friends, I should go get a real estate agent that would fix my friend problem. I say this a lot in my classes. And I will put it out here for you, Lucas, because I think it is the number one thing, man, I got way further ahead. When I realized that the one consistent thing, every customer that comes to me as is a real estate problem. And when I stopped trying to be their friend, and trying to show them that I was the best suited person they ever met to solve a real estate problem. That's what my real estate business transitioned into. Not just a successful business, but a business I could be proud of, because I knew I brought the goods every single day. And so my case when I walk in, I'm not trying to be their friend, I will hopefully become their friend in the process of showing them that I can solve the actual problem that made them come find me in the first place, I anticipate that they've got a problem. And let me show you that because I care enough about you. I've thought about your problem, and I have the solution before he ever met you. So that would be the second thing. And most agents don't know what they're in business to do. Most agents are sitting there functioning as employees within their own business. And they never take the time to put their CEO hat on and figure out what the hell their business is there to do in the first place. And that that that winds up breaking, I mean, most agents want to take and build a business, but they let their employee run the business. And employees don't build a business. It takes actual thought and effort. And it starts with figuring out what the business is about. And for me and all of my stuff is all about closing, right but not closing transactions. I'm there to close customers for life. I'm in real estate to close transicold customers for like, these customers will never worked with anyone else other than me ever again. If I don't do that in my bid, if I don't bring that kind of quality to what I do. That's failure. That's failure. I don't care if I got paid. That's what failure looks like in my business. And because I run my business that way, it does a couple of things. For me. I agree on my advertising budget for the last nine years has been $0. All of my business comes from referral. It comes from past business, I still manage to be a top producer in the industry. And the other thing that it really enables me to do is it enables me to run the kind of business that I enjoy doing every single day that I know has great standards. And it makes me proud of the very thing that I spend the vast majority of my time doing which is my work. I'm proud of the business that I run because I know my business has standards And most agents, the scuffling man that we're going to work becomes drudgery. And for me, I've been able to avoid that by running the kind of business that I'm proud to be associated with. I like that. I like that we had Robbie T on our last episode, and he talked about being relational rather than transactional, right? You want to make that client, you're you're making them a client, you're making them a, you're being a value to them, so that you are that for a lifetime. And if you can solve their unique problem, you know, their dominant buying motive their things that they need, they're gonna shout it from the rooftop, absolutely give talks. And see for me, Lucas, because I heard that so many times, when I like, I don't wanna say that. But stuff, I meant necessarily just even similarly, that, that in general idea that that we're relationship is thrown around a lot. No. And I took that, to fall into that. And maybe it was my misunderstanding when I was in the business, that whole friendship kind of thing I thought about it as, and that's not really what it is. It's establishing respect in the eyes of the customer, that you genuinely know what the hell you're talking about. You bring it. I tell I tell people all the time, look, my customer doesn't know how to do this thing. And they don't want to learn my job. What they're really looking for is the 100 pound gorilla in the room. If you're the one that walks in, and they almost feel bad for the other side, because the other side is going to deal with you. You're that force me, you're never going to let anything bad happen. And then you're going to look out for them and make sure nothing goes. I mean, I'll give you a little example. This is this is what a very practical here's a very practical one for you. Lucas, have you ever heard rumor that this happens that every once in a great while almost never happens? agents make appointments to see properties with the seller, following the showing instructions, and then that agent not only does not show up to that appointment with the customer, but they don't even call that's never happened in real estate. Right? That happens all the freakin time. Right? All the time. But, but no call no show agent. Well, if I'm the listing agent, that property I know that can happen. See, you know what I do? I tell my customer during the listing presentation, I deal with my problems early, not late. I don't take and do damage control. I want to get in front of the sucker. I say, hey, look, this could happen. But let me tell you what you do. Anytime anybody makes an appointment with you, you write down their name, and you write down their brokerage. That's it. When that agent doesn't show you just give me their name. You give it to me. I have a form letter in my drafts, that basically goes to that agents broker see sees the agent and excoriates that broker for letting this person is not really exploring if the agent and tells the broker what's going on and says, I really hope this is not representative of the type of stuff that you do how you train your agent and how your business does business. This is reprehensible. And it's the reason why we have this poor perception in the industry. It needs to stop. And I be CC my customer on the email done. But the question is, how does the customer feel? When that happens? They feel like somebody messed with them. And they stick their pit bull on him and the pit bull went the town. That is what my customer wants from me. Yep, somebody hurts them. Somebody pokes them with a stick. They want somebody to hit him with a baseball bat. They want them to it's going to take That's it, man, they want an enforcer. And it's, it's nothing. It's nothing ridiculous. You don't have to be this crazy negotiator or anything like that. Just think through the problems. Think through what it's like on the customer side. And then think how you can give the customer a positive experience through that. It's just thinking about your business, folks. It's getting good at what you do. Yeah. And that's, that's the thing I think a lot of people have difficulty with. And I use a different a couple of different metaphors or analogies with that, right? It's really difficult to be in the engine room, and you're working on all the engines and all that but also be the captain navigating and looking you know, in charting your course a lot of hats. There's a lot of hats. Right? And that's, so that's where it's important. Like, yeah, we're going to another one, we're going to be in the trenches, you're gonna be in there, there are things that you need to do on a regular basis. Consistent persistence produces consistent results. There are things you need to do daily, there's things that you need to do hourly, there's things that you need to do by the minute, right to help plan and create that path. But on the same token, if you don't ever step out of the trenches and take that general look right the looked at the general takes from above, you know up on that Hillcrest to say okay, where are we navigating to where is all of these mechanics and all these other pieces headed to Oh, you're you're headed for disaster. You're headed for defeat? Yeah. You're headed for burnout? Absolutely. I mean, just, you have to create your own way. Because look, I could give you scripts all day long of what I say to agents or customers, right? And it's kind of like a dating world, right? There were guys that I knew that could walk up and say things to women that I tried to say, Forget getting slapped, I'd probably be in jail like, but these guys, it just worked. And I learned from that, that it's not necessarily the words you say it's who's saying them, as it's recognizing that you need to take and develop in your business, your solutions that flow integrally right, genuinely, from the core of where you are, it's easy for me to talk with a lot of passion about what I'm say, because I genuinely believe everything I'm saying, I'm not telling you anything that I don't think it's true. I'm not sitting here equivocating, because for me, I'm just telling you, this is what I found that works. And so that's, that's really, I think the difference maker, is instead of taking in trying to duplicate what other people have done, to try to get the big idea of what they're talking about, and see how you're going to craft and create that within the context of what you do well, and making sure that honestly, and this I've learned this a lot from the coaching that I've done, Lucas is is is taking, taking out the trash that we picked up throughout the course of our life, that gets in the way of us being who we're capable of being because we have a lot of garbage, most of us that we have just get rid of time to take out the trash, it's taking up the house, you know, I hear you, man, yeah, we put up a lot of these of these mental barriers to keep us from getting to the next level. But what ifs and oh my goodness, this or that or the other? And it's like, well just crash through. That's it pick up the pieces later. So how do you feel this market that we're transitioning into are obviously, you know, we're we're talking through this on a daily basis, we're in team meetings we're working through we're discussing, but how do you feel in your opinion that this particular market is affecting the buyer's agent versus the sellers agent? And then if we want to combine the two, really, how that is then affecting the buyer, client and the seller client? Well, I mean, I think that the power dynamic is always shifting back and forth as the markets transition. And look, we're not in a buyer's market right now. We're not just the thing is the continuum is just shifted from being the most hardcore seller's market, like in the universe, to now coming back to this thing, this special land we call normalcy, where we're gonna have, you know, the ability to actually have some negotiating power for the buyer, the buyer is gonna be able to sit there and say, hey, you know, I was thinking about actually just paying asking price for the property, not 40,000 over. And so that that shift is to be expected, we know that this is a reaction look, the folks that were smart that were paying attention, they jumped all over real estate, the investors have been gobbling real estate up, because they recognize as far as a hedge goes. And so those folks have started to cool as interest rates start to pick up because while it's still a very good place to be in real estate, it's not as ridiculously good as a play as it was, when you're borrow money at 3%, the rate of inflation was close to 9%. I mean, but it's still it's still a great place to be right. So these power dynamics shifting, it's to be, it's to be exact expected. And so the negotiation has changed, the leverage has changed. And so the things that you could ask for the things that take and bridge the gap in the transactions have changed, other things come on the table. So when we when we talk about negotiation in general, and trying to establish collaborative negotiation, which I say that it kind of annoys me a little bit, because like, everything in real estate is all about collaborative negotiation. And the only problem collaborative negotiation is if the other side doesn't want to negotiate collaboratively. And that's come from a market up, the other side isn't gonna negotiate collaboratively, but they've got all the cards, we've got the two of spades and they've got the deck. Right. Right. And so we haven't had a position to negotiate. So there's really not been any need to be persuasive, there's not really been a need to take and, and work on your skills but but now, now, there is a little bit more room for negotiation and, and being aware of those things that we've haven't heard about in years, like seller concessions, like, hey, increase the purchase price a little bit and then kick some back so that we can take a pair of closing costs, so we have some more cash so we can replace the kitchen. You know, like, these are things some people don't even know what that is, man. Last couple of years. If you came into real estate, this is this is no Yeah, another concession. So the concessions what that they leave the house at the you know, on the closing date. I mean, they're going to play that for an extra week. And like, what does that mean? So yeah, I think that agents need to broaden their knowledge of what potential concessions can be. And one of the tools that we can use a lot of times it's a bridge gap or that that People aren't in love with I don't love it necessarily as a technique, but it's one that a lot of times it's, it's called a specialty tool like you don't use it all the time. But when you need it, it's like it's a home warranty. Right? The sell, what does this what does the buyer want, the buyer wants to sell and replace everything that is near the end of its usable life that the inspector found nearly illegible bits lootable life means I don't want to get sued because it breaks the day after closing as the home inspector. So I put it on there because I couldn't go for another 10 years. You know, it could I don't know that the effects of what that means, right? When we translate inspector ease. And so. But the buyer, the seller is like yeah, I don't want to replace the AC it's blowing icicles. Why should I replace the AC? Yep, it's near the end of its usable life? How do we bridge the gap? Well, you know, we have these tools, a home warranty is a nice one to take in, in a normal market where everybody's trying to figure this out, and where you as the agent want to know what to take and have to cut an AC out of your commission. You sit there and say, hey, look, why don't you the buyer, the seller? Why don't you guys split a home warranty, maybe that'll take a hedge the risk now at least the buyers risk, because that's really what the complaint is, it's a risk concern. Maybe we can mitigate this risk in other ways. So tools like that, I think that's where agents are gonna really need on the buyer side and the seller side need to inform themselves because otherwise, if you don't know what the hell you're doing, the only place that's left to go and the two sides that want to be in transient is to start to cut your commission. And if you're comfortable with that, right, welcome to amateur hour, if you're comfortable with that, if you don't respect yourself enough to fight for what your actual living is, then I think there's other problems that need to be dealt with that are that are much more fundamental to your business. For sure, I love that man. Yeah, a lot of the a lot of the tools and are coming back out and get dusted off, right? We're getting back in the gym, we're getting those reps in and, and seeing what this is going to look like. And I mean, and that's the unique position that we're in is this is all kind of happening in waves, right? So we still have, and there's a lot of sellers reps out there right now that are caught in that trough, if you will, of like, Oh no, we listed at the height of market, like just as that tipping point happened. And you know, our sellers, like still shooting for the stars and still in that ether. But it shifted on us. And so I mean, how to position that if you're the aide, let's say you're the agent that took that listing, because it was the only way you're gonna get it. Right, the seller wanted to listed for $50,000 More than anything that ever sold for and you're like, Well, you know what, I'm looking at the last listing that sold it was 50,000 More than anything else had sold for. So why the hell not? Right. Right. If you're in that position, the only way to really extricate yourself from that is to sit there and have a serious conversation with a seller and say, hey, look, this market is moving away from us now. And look, I don't think that the prices are going to come down. But I don't think that this$50,000 gap that you're anticipating closing immediately is going to close as rapidly as we had intended, as we had hoped. If the market had continued at the pace that it was, it was reasonable to expect this. But right now it doesn't with interest rates moving away from it, it's making it more and more expensive for people to buy this house. So it's costing them more. And so this is going to apply a downward price pressure to pricing. And this is completely outside of our control. Now the reason why I'm doing why I would phrase it that way is because I'm not accepting any of the blame for this, because I'm not going to tell you the honest to God truth. It's not your fault. I mean, it's your fault. You took the listing too high, that's on you. But then again, you look you've gotten the game, you know, you've now had the opportunity to establish with the customer that you know you do things the right way and whatever. But you have got an overpriced listing here. If you've done the job properly in the beginning, where you told them, hey, look, I'll try that price for you. I'm not promising it can get to that price, but I will do everything I can to make that price happen. But understand I don't have any data to support that I can get this price. Because otherwise, if you've done it any other way, oh yeah, I'll get it for you. Well, you know what, you got blowback. Now that blowback is there and you know, I'm gonna tell you the honest guy, I'm not gonna pull any punches. You deserve the blowback. You know, when you run your mouth and you make promises and understand that promise a big deal, because that's your reputation this industry. If there's one thing one thing I try to pride myself on, if I say it, I'm gonna do it. I tell the customer that and I say look, you want me to do this overpriced listing. I'll give it a shot because I understand. I understand that maybe you want to get top dollar and if I brought you if I listed at the right price, and I bring you that price the next day, you'd be sitting there like Oh, I knew it we should have listed for more. I don't want you ever to experience that so you want to try the higher price. I'll be your Huckleberry I'll go after it. I'll fight tooth and nail to get you there but if you make more money I make more money Why wouldn't I do that? But I want you to understand if I go for this higher price, I want you to say I'm not promising you wouldn't get to that price. Because I never want to promise you anything Mr. Mrs. Customer that I don't actually do. So as long as we're cool with that. As long as you're okay with that. Let me go in there. Let me go to war for you. Because here's the one thing I will promise you, Mr. Mrs. Seller, no one will sell this house for one nickel more than I will. I'll have it done. Yeah, you set the expectations ahead of time. You said, Listen, this is what I believe in this is my professional opinion. But on the same token, these are the things that you're asking for, and I'm gonna go to battle for you and work for you. But on the same time, let's set some expectations of what this looks like. And if this doesn't happen, what's the timeframe where we can start to play by the other piece of this, that's really important for me, Lucas, because I know that I think an overpriced listing that has a cost to me, in the sense is gonna be more time and aggravation that it would have was a well priced listing. And I need to get a return on that investment. So when I take and make that statement, to the customer, of hey, look, I never want to promise you something that I don't perform, I'm actually getting the opportunity to present to them the terms by which I do business, the terms by which I live my life. And that flies in the face of their general impression of what a real estate agent is and how they do business. And so my return on my investment is that moves the ball forward, in me, establishing with them that I'm the kind of person they want in their life, as their agent, they call me, they'll get the straight story, whether it's good, bad or ugly. And that's where I want to be. Right? I love it. So, for the buyer's agent, let's say the buyer's agent right now, you know, they're they're sitting there and they're seeing these listings that are sitting on the market, they were priced again on that tipping point, by Malcolm Gladwell is right, like right there on the edge. How would you say a buyer should be looking at that? And what types of strategies could they be employing to be able to maybe take some of these down? Should they be afraid like, Hey, this is too overpriced? Or where do you think they might position that I always try to do is, I'm a big believer in highlighting what you bring to the table, if you will. That's the market difference. That's what makes Realtors not interchangeable. So I would call the other agent rep and I'd say hey, look, let's say look, Lucas here to go. Hey, Lucas, I see your listing there. My people liked the listing. And Lucas man I want to try to get you I want to try to get you the best price for this thing that I can I'm fighting with them to get them you know, I want to give you I want to give you something you can bring your customer and look good, right? The thing is looks I'm having a hard time finding comps to support the price. Can you send me the comps you used to take and and price the property now you're gonna go one way or the other in that in the market? A few months ago, you told me Get lost. I got 50 offers already right. But now we're getting back to the TIC tock. Yeah, this is the apple. Now now Lucas, you're worried because now you're starting to look bad to your customer. Because now it's now this is sitting here twisting in the wind a little bit. So now you want to talk to me. Now you want to have a conversation with me. And you say to me, Well, hey, look, you know, I don't necessarily think I have or maybe you send me comps, let's say you send me comps, and it justifies the price. Boom, I get my people Hey, guys, look, we got comps, we should be able to appraise. Now, I've looked for the comps already. I don't think the comps exists when I call you I know the comps aren't there. But you told me hey, look, you know, the comps really aren't there. You know, send me the offer or whatever. I'll say, All right, well, what I'll do is I'll make the best possible offer I can based upon what's supported with the comps, you know, do you think if the numbers I'm seeing is like, 385? I know you're at four 430, right? If I if I bring you 385, you know, Can we can we start a dialogue? Because look, I want to get this done. I don't wanna waste your time, man. I mean, just, I don't care. I'll do the I don't wanna waste your time. I know, you have to present anything. I said, Am I going to really piss your customers off? Like, where are we? Because here's the thing that's slowly happening in Lucas's mind. As I'm talking about this, Lucas realizes this is not my first rodeo, I'm worried about him, and what it's going to be like for his experience with his customer to present this offer. And here's the thing. When you do rentals, when you do rentals, it's a one night stand. When you do a transit, a real estate transaction of purchase and sale, it's a bit of a marriage, Lucas and I are gonna be married for the next 30 to 60 days getting this deal done. And I want to make sure Lucas knows that I don't have bad breath. Right? I want to make sure the Lucas understands that I'm a guy that he's gonna want to do this deal with, because I seem like the kind of guy that's gonna make it easy for him to get this done. Because I know one thing I know about Lucas is he's been doing real business with other agents. And he doesn't get that experience very frequently. He gets the experience of the agent that he calls 46 times and giving them an answer once on a deal where they're gonna make$40,000 in commission. Right? He can't even answer the phone. So I need him to know it's something different because Lucas as the agent has the ability to take him and give me a leg up with the customer. Hey, look, this agent. I think we'd get a deal done with this person, or he'll call me back up and say, Hey, Josh, we just got another offer and a 405. We'd rather work with you guys. You can get your customer up there. Guys, I can't tell you times I get the phone call with the answers to the test. Because I take the time to get alone when that happens. I hear you man and that's that's one it's funny that you say the marriage thing. Excuse me, because that's something that I talked about with the agents all the time. And then even taking that even further down the road and saying, if you're a professional in this business, don't you think you're going to work with these people again? Yeah, right. Don't you think that? You know, I can can't tell you just like you mentioned, the amount of times where I've gone back to an agent, they're like, oh, my gosh, it's you again. Yeah, let's Yeah, absolutely. What do we need to do to get the like to, for this to work so we can work together. And they're bending over backwards to help us to get us to work with them. And it's like, this is a weird concept, right? Doing good business tends to want people want to do business with people that they loan, like no interest. So let's that know how to operate. Let's do it again, they look, I mean, there's, there's a class that I teach called dealing with the deal killers. And it literally is a class about how all the other people besides me screw up my deals, right? Your deal can be screwed up by anybody else that's in the transaction, and especially that other agent, if you know that other agent is not the kind of person that let stuff get screwed up. It makes it so much more likely that that deal is going to actually perform and you're going to walk away with a happy customer. Because that other agent has the ability to sour your customers experience of that transaction, which blows back on you. And so if you know you got known quantity, and they decide that performs, man, easy stuff all day. So let's, let's shift. Let's shift a little bit here. crypto. That is a ship. Right? We're like going down this path and we're just like, Alright, so how do you feel how do you feel crypto can be leveraged to mitigate some of the risks that we've been seeing out there? I mean, crypto is an alternate position to cash. And crypto has obviously been getting its butt kicked, but then again, so as cash, not to the same extent crypto has but crypto is a very good idea. It's, I think that right now it's the it's in the Internet stock of early the early 2000s position. You know, I was in a class the other day teaching crypto when I had somebody prepares and say, Yeah, crypto. It's done. I said, Yeah, kind of just like that internet thing, that that thing. Never really pan. Oh, wait a second. We're on a zoom class right now. It changed the world. Just because something got hyped, got blown up and the bubble burst doesn't mean it's not a good idea. It's just like real estate got hype. We had the 2007 You know, all the lending that went on and everything like that. Did that mean that real estate's bad? Is it bad to own a home? No, just like fundamentally bad about it. It's just that the price got irrationally too high. So what happened with crypto currency, the price repriced itself right now? I think to me, it's it's a, it's a good way to potentially hedge your position against the downsides of cash that cash has right now cash is bleeding to death at 9.1%. Based on the last number that came out, that's a compounding 9% Last year taking for standing there waiting for the bubble to burst. By the way guys, if it doesn't burst the next three years. Guess what, unless it goes down, like 30% or more, you lost, you lost. And as I said, if it does, it's gonna be the first time it's ever happened. So I think that informing yourself about crypto, how crypto is going to work with real estate is going to help you be one more tool potentially, as the market transitions, as sellers are having to look at all opportunities to sell. And the crypto buyer may be one of this may be a way a way to set yourself up in the industry to be where the cruise ship is going, as opposed to where it is right now. I love it. I love it. And I love the fact I know a lot of there's some conversations and I've been a few a few roundtables, if you will, in regards to blockchain technology and chain of title, which is really kind of interesting as well, that's going to be there's a big push to do that the the concern that I have with that is that because it's not in the best interest necessarily of the state. And it's not necessarily in the best interest of the title companies that that will get flow rolled a lot more than we then other things that we may see. It makes a tremendous amount of sense. I mean, using using an NFT using a token to represent to take the place of the deed and recording the title that way. It makes a lot of sense as far as transactional, expediting the transaction. I mean, you know, gay Lucas, you wanna buy my house, come on over for a barbecue will will complete the transaction at midnight from my pool, there'll be my pool at the beginning of the party, be your pool by the end, and we just simply send your token for you to me, crypto from me to you when it's done. That that is a nice world. It's a beautiful place. But I think that there's going to be some some hurdles to overcome to get there. I agree. I agree. And title insurance, quite frankly, makes quite a bit of money for a lot of people it does and if title becomes a lot more secure in their underwriting a whole lot less those title costs are gonna have to fall plus the room for the Commission's is gonna get squeezed that will they find another place to go to absolutely but I think that crypto and blockchain has the potential to eliminate a lot of seats from the table. And so those folks right now the ones that are paying attention are scrambling and smart and trying to slow your process down. For sure, I love it. So there's obviously a lot of uncertainty out there that's affecting agents psychology as well as client psychology. So what do you feel the professional should be doing right now to refocus themselves, refocus their clients and kind of keep things moving in the right direction book, simple question. Great question. No, and teach the history. Know what happened before know what happened last time was like this and teach the customer what happened, then you need to recognize that the market had to change it did you have to say, look, it couldn't stay the way that it was. We if it couldn't stay that way, it had to change, right? There's no way for it to not be the way it was, if it doesn't change. So it's changed. We had to anticipate that so fine. It's a different market now. That's okay. And then the other thing is, explained the alternative. And it put in very simple terms, right? When I ask a customer to buy real estate, I'm always asking to do the exact same thing. I'm asking you to take a shorter position in cash in order to take a longer position in real estate. Has the outlook for that really changed? Do we think cash is all of a sudden going to start doing a lot better? Because even if real estate went down, in value, it's gonna take an exceed the 9.1% We're losing right now. In our in our money. So um, yeah, I think that understanding the juxtaposing the positions of hey, look, cash or real estate, which one do you think has a better outlook? Here's the history of what's happened every single little time this has happened? Have there been recessions? Yes. Has real estate prices gone down during those recessions? As it turns out? No. And so there's ample evidence to show that that your position while and you're suggesting that they maintain a long position in real estate. Love it. Absolutely love it. So let's say I'm a new agent. I know we touched on this a little bit. But I want to see if we can't go a little deeper into this because I know this the same the same as you're doing. And the answer that I'm anticipating is kind of the same way that if it feels like you're just looking, looking at this, and it scares me a bit. But let's say I was a new agent, again, within the last two years, and I've lived through COVID. And then last year, what are the types of things you would say to them? Right now? And diving a little deeper? Where should they absolutely be focusing? Well, I'm going to say education, because it starts your confidence at even when I when I when I do coaching, I'll take and I'll have somebody that's, that's really nervous about having a conversation, I'll say, hey, look, read up on this thing. And then go have your conversation. And after they come back, yeah, it went great. You know, they started to disagree with me. And I said, Well, no, no, here's the, here's the numbers. And I mean, look, here's the chart, it's when you have when you know that you know what you're talking about. You're not in a position anymore, where people can run you over. And that's what most agents have happened to them. Their customers just take control, and they're sitting there as a passenger in the transaction, like, Okay, tell me what I gotta do. Um, so the, the simple stuff I would say, is, I know, I'm saying it's simple, because I teach all this stuff. So I know, at least the information is out there, someplace, learn the investment value of real estate, you need to learn what the actual thing I don't care whether they're a first time homebuyer or VA doesn't matter. Every purchaser of a piece of real estate is an investor, period. So learn the investment value of what it is you're selling them, learn your product, learn how to do valuation, valuation is gonna become a lot more a lot more important and getting a good every loves. Like CMA almost turns me off so much, because it's just Oh, yeah, auto print and 87 pages comes out of No, learn how to value your property. All right, just learn how to do a minute grabs the one across the street, the one that across the street, the mansion, it's just, it's brutal. I love love those auto valuation leads, it's just valuation is one of the big things that we're there to do to say, hey, look, this thing is, look, I want to take and be so good at my valuation. That even the appraiser is a little scared of me. I want to go in there and have it be with the appraiser knows that if they don't give me my value on this house, that I'm the kind of the kind of agent that's going to take a negative response that's going to make them look bad. because that's not what they want. I know their terms. I know how to speak their lingo. And I know how to take and make adjustments. Now, how do I know that because folks, I came in this business in 2008, I did 26 trillion BPOS, I had to justify every adjustment I made every single time to every bank I was doing it for. So I learned what that process of making adjustments was like and how it is. So I come at it from the appraiser standpoint, but I want to learn valuation. And then the last thing I would say is learn negotiation. You know, originally when I wrote my first class, my two day class, I had about an hour and a half of negotiators like that's, that's pretty much everything. That turned into a four hour class on negotiation. Now, I have three, four hour classes on negotiation, because you know, what else is in negotiation? All those objections we get? Do we get some objections in real estate? Totally, all the friggin time right here even objecting to my objections, right? Absolutely. It's a thing. And then the last one that I just got done writing as a class on body language in negotiation. Because so much, especially as I've matured in the business, I recognize how much of my cues and how much of my adjustment to what I do is based upon the feedback I'm getting from them, real time, I'm tweaking what I do to them. So if you want to learn how to up your game, as a new agent, that scared that doesn't know, these are the places that I wish I had focused at the beginning, because I took a broad scattergun approach and just took everything, these are the things that to me had been the biggest difference makers in my business. Outstanding, I couldn't agree more. Couldn't agree more. I know, from my military days, when I was with the Coast Guard, you know, one of the things that we were always looking at, right, as a boarding team member in some of these other things is, you know, you've got to pay attention to what people's bodies are doing, where they're pointing what they're doing, because, you know, it could be life or death, you know, and taking some of those principles in and learning you know, the mirror and matching and the parroting and the pacing, and some of these principles, taking those all into effect. You can really without even saying anything, you can make someone instantly feel more comfortable feel like they know you feel oh, this is just an old friend I'm talking to and then if you can get the real story, then you can put your your cooking with oil there, you know, or fire I guess, yeah, whatever. Whatever you want to use. Yes, absolutely. You're absolutely right. It takes it just it expedites the whole thing makes it better. Awesome, man. So all right, so morning routine, what does that look like for you? And what types of things are you doing to put yourself in the right mindset that come? And you know, you just blast it out of the park earlier today? You're killing it here, we've got another one later, like, what are the types of things that you're doing to get you to that, right mindspace to be able to really be able to perform at that ultra high level? Well, there's a few different things that I do. I mean, if you're talking about my actual morning routine, I kind of have a policy that I and this is kind of more something I've trained into myself that I wake up every morning, and I go through the list of what I need to do, in order to turn in a day, that matches the standards that I have, for the kind of day that I turn. In other words, if I do all of these things, this will be a good day. And then whatever time is left over after that, that's my time to do whatever the hell I want. Now, typically, that turns out to be about 1030 o'clock 1030 At night, in which case, I'll sit in the couch and I'll watch Fords and fire or something like that, an episode for that and then and then pass out. But, um, no, I mean, I can't sit here and say that I I mean I do I do a little devotional in the morning, just have a little bit of quiet time, you know, the little bit of quiet before the storm starts. And, and really just take and I want to know I want to know what I need to get done to make sure I've done what I need to do. And if you don't have systems I'm blessed. And I'm a pretty structured guy and I have systems in place that I know if I just simply adhere to those systems. So for my categories can just simply be go in and take care of everything in my CRM go and take everything in my inbox go home. Now that's going to take me till seven o'clock at night eight o'clock at night all the time. But because the systems are there to back me up, I don't have to take and go a lot of different places to get what I need to know what a good day go to the gym, you know, I do these things. My day is done. I love it. I love it. Right. Those little wins are creating those anchors, right and understanding that. It could all go to hell in a handbasket. Right today, the middle of the episode everything. We adapt and adapt and overcome. That's right, it's gonna go sideways. It's okay. We're the kind of people that are left still standing when it does go sideways. Everybody else runs the other way. Look, I mean, if I could I could leave you with one really big overarching con except I'll tell you a story maybe I was I was working out at the gym. This is this is a time in my life when I was actually really in good shape. I was getting ready for a bodybuilding competition. I mean, I was you could cut glass on me at that point I was I was in great shape. And so I just finished a two hour workout with a guy that I was working out with it was remotely my normal gym partner, he's a little bit more of a, a lazy guy, whatever. And so I said, we're gonna go for like a five mile cool off walk jog kind of thing. So we got to the last half mile with Dard done the four and a half miles were the last half mile. Alright, now we're going to run as hard as we can this last half mile. And I love it. Forget what he said. He looked over at me and he said, What is wrong with you? It's just two hours in the gym. And then five miles of just walking and jogging. I said, Look, I know right now, right here is a decision I can make. If I choose to run this last half mile 99 out of 100 people won't do this. I earn my win right here by making the hard choice that everybody else is afraid, scared, too weak to make. And it's in my control right now to do it or not. So I'm going to choose I'm going to choose right now to do to push to persevere, I'm gonna choose to be the version of me that I'd like to be I best want to be my best version of myself. And so we ran. He ran that day. And he learned something about himself. He knew that when he was exhausted, he couldn't go one step more. He had a half mile run and like denim. I love it. Yeah, we a lot of times we we stop ourselves severely short of what our True Potential is the thing to think. Man, so Alright, so running through, we're getting pretty close here to wrapping up Josh and really, truly appreciate the amount of time, knowledge and just value that you've brought in to to us, our listeners and just in general what you've been doing, man for the entire industry. It's it's been awesome. So let's, let's throw in another practical if we could before. And then I really want to chat a little bit about you, your business, how people can get in contact with you. You've been talking a lot about courses coaching some different things here. But let's, let's say all right, I have a database of buyers, who bought and maybe I haven't nurtured created that experience, right, once we've closed, maybe they're, they're not the ones that are that are sending me referral after referral because I missed, you know, maybe one or two steps along the way being generous, right? What are what are three things that we could do to revive these people in the current market climate. So first thing off the bat, if you have a database of customers you haven't been keeping in contact with not cool. 100% Not cool. These the people that are the reason why you have a paycheck, why you have food on your table, you need to take care of these people, that's your business. I'm not gonna pull punches folks, get on it. Next thing I'd say if they bought called let them know right now, how great a deal you got for them how much equity they build to this incredible market that you help them get into. All right, this reminds them that the thing that you had them do actually turned out to be a pretty good thing. So you got a pretty good reputation with them already. Call to see how they're doing folks. Big thing that I'm a believer in is call your database and just check on him, see how you're doing. And if they sold? Ask them what they did with the capital, what you guys do with the money? Where do you go? I would say look, the position right now, to get long. And people that buy real estate right now to live in are going to do pretty well. People buy real estate to invest in right now are going to do even better. Because while real estate prices should go up on residential properties, the rents are gonna go up as well. And that's a double dip. And if they borrow money, they're borrowing and spending the bank's money today when it's most valuable, and the money is devaluing rapidly that is the very money they're gonna be paying the bank back with to be paying the bank back with less and less valuable money. It's a triple win on inflation, and it's why Real Estate Wealth is built so exceptionally well in inflationary market so I would take and use that data and and and position that phone call to try to get to the tremendous opportunity that exists without telling him to do it. I'm gonna just sit there and say yeah, I know a lot of my people are doing this it's really going well and you know, I've been encouraging everybody that has any kind of money sitting in the sidelines this is really the time to take advantage because we have we have really good historical evidence as to what's going to happen so please get yourself in that position that's how I would be approached note that phone call Lucas I love it man. That's that's huge value right there. That's absolute huge value and people don't people love to watch the story, right? So like you said, if you can bring, hey, I'm not necessarily saying This is what you need to be doing. But this is what others are doing and why they're having success and how they're having success. Absolutely. You have that herd mentality. Absolutely. Maybe I'm missing out. It's a it's a good thing. It's a good thing. People have made a lot of wealth in real estate in the last few years. And we have ample evidence to believe that that's going to continue. And it's not like the 60s and 70s in Florida, where they tremendously overbuilt, so that in the 80s, the appreciation wasn't as good as the rest of us. The building is not adequate in the in Florida right now, folks. So we're going to be in a long term sustained period of growth for quite a while it looks like outstanding, so Alright, so jumping into wrapping this thing up. Let's let's talk some more about you what you're doing. Like what is what is the next couple of years look like? For Mr. Josh freakin Cadillac, love you last night, man. Um, you know, I I've really, this year has the teaching business, which is just one of my businesses, but the teaching business has really exploded. I've become much more in demand and figured out why people want to hear from me, but they seem to. And so I mean, by the end of this year, I have more than a dozen flights, trips booked that I'm flying all over the country to go speak different places where they they've called reached out, and you know, like, we got to have you. And so I'm like, Are you sure you got the right number. But yeah, they want to, they want to talk to me. So I see the real estate business being the teaching business being more and more apart, I hope that I still maintain the bandwidth to maintain the standards and levels, I have real estate transactions, because I want to make sure I have my finger on the pulse of that I'm gonna be teaching it. And I think I'm working on my second book right now, which is, that's, that's gonna be a fun one, which is gonna be talking very much about very much what we talked about today, which the book is going to probably be called, it's either gonna be called clothes for life or know your shit. One or the other. I haven't figured that out yet. But those are the big projects that I think that I have on the table right now. And then there's a couple more classes that I want to bang out, I keep thinking I'm almost done, but stuff keeps coming. You need to do a class on Airbnbs cheese, you know, you're right. I don't have one on that. And so, um, you know, again, it's pure love for me, because well, I don't do Airbnbs typically. I mean, for me, I love the investment of real estate. I want to juxtapose that up compared to a long term, you know, rental, my annual tenants and see, what's the risk profile differential? What can I bring to the investor to sit there and say, Oh, well, we're never buying a, you know, a short term rental property without you again. And so that's the kind of stuff that gets me up and keeps me passionate and love and I look forward to these long flights because that's my time up on my Sony cancelling headphones on and I, I write my courses on these, these flights. So yeah, looking forward to that. I love it, man. Putting value forward and Absolutely. Leading. And over delivering. So. Alright, man, so what types of speaking about I know you, you've said a lot about classes, like what types of things have you created? What are you know, if I'm a listener, and I'm like, Man, this sounds incredible. You know, we're gonna, we're gonna definitely in the show description, we're gonna have your information, we're gonna have links to everything so they can get there. But like, what, what are some of the classes that you're teaching on right now as it turns out, I have the record for most C courses in the state of Florida that are approved, like 30 some odd what what I know that I have on the books in the Miami area, in particular, I have my my ace inflation class, how real estate is the answer to, to the inflation that we're seeing. That's on August 16, I think August 30. I have my ace investor five class, which is one of six investor courses that I've written on just all the different things there are to understand about investing in real estate, whether you're the investor yourself, whether you're the agent, I've written on tons of topics though, all the things we talked in negotiation, valuation, all this stuff, but cryptocurrency, there's, there's a few things out there. But if if folks are looking to find those courses, my course calendar is available on closed for life.com or ACE closer.com. Either one of those sites have my full course schedule of where I'm teaching. And it also has a way to contact me if you have questions about that or you want to contact me I also do coaching. I've been doing a lot more of that recently. And that's been that's been a very rewarding and fun thing to do. Because it's always fun to see agents make headway and find out you know, that they can do more than they thought they can do that. That's always nice. Outstanding, I love it. Right that light bulb. Oh, wow, you're right. I was doing that. Well, yeah. A little bit. So I love it, man. So jumping into so you I also have a podcast as well, I do. I do have a podcast as well. It's called No your shit with Josh Cadillac. In fact, that title was not even necessarily my doing. But I was talking to somebody about it who was helping me with the idea. And we're going through I said, you know, agents just need to know your shit. He's like, That's it. That's the name for the podcast. And I was like, you know, it kind of isn't cheating, but I love it. I think so. Yeah, that's how it got the name. Outstanding man, and how So how often are you recording episodes, we're definitely we're gonna drop a link to that as well in the description episodes drop every week, I record them. Sometimes a week goes by don't record any and sometimes I'll record three or four in a week. So they're all pre recorded and coming up and edit. It's not not not life like this. This one is. But it's being dropped. So there's new episodes hitting every single week, I believe Wednesday, they drop out outstanding. All right. So for everybody that's listening, you're going to be able to again, in the description, you're going to have all of the course information everywhere that you need to go to do everything, Josh Cadillac, and you're also going to have the link right there to his podcast. So you better make sure that you're getting in there because in this ever changing market, you really got to make sure that you're on the cutting edge. So So do you have you have anybody that you want to give a shout out to before we jump into this? Well, there's there's all the people that are at my office, I think a few of them are listening, Lily and my mom Joey and all those people Cody and and Marcelo, and everybody just want to take in and send some love their way and, and hey, Soos cast it on has been a great, a great help. And in a lot of this as well as a good friend. So those folks I love it, man, I love it. So if I was an agent that wants to work on all these things, right, we're gonna give them we're gonna give them the websites, we're gonna give them the podcasts, we're gonna definitely I'm going to see if I can't twist your arm a little bit. Maybe when that book comes out, we can do like a little book giveaway or something. Are you open with you're on Instagram? You're on those others? We can drop those in there as well. Is that Is that another good way to get a hold on there, Josh D Cadillac. I think I'm Josh, Joshua Cadillac just about every other place. But Josh D, Cadillac and Instagram. And LinkedIn, I've been seeing a lot of people on LinkedIn too. So it's been. But yeah, those are the places I try to have, you know, worthwhile posts posted there. Frequently to take interest trying to keep good mindset. Good stuff going. All right, brother. Well, that was an absolutely incredible episode, guys and gals, I have an enormous amount of respect for Josh, above and beyond his badass last name, but super honored to have him on our show today, really enjoyed our crypto class. Again, the agents continue to talk about it. It's something that we all need to be looking at, because it is not going away as Josh had mentioned, it's just it's wonderful to see everything that you're doing and the enormous impacts that you're making in people's lives every single day. Right. Thank you, Lucas, I appreciate you having me on here. Man. And and the respect goes two ways, man, yeah, you build in a good organization doing good things, man. And it's, it's nice to see, you know, brokers and people that are in charge of, of agents, do the right things, and try to help their people to be the best as opposed to just simply being a numbers game of just bringing as many warm bodies in and hoping they close enough that it keeps the lights on. So thank you for doing it the right way, brother. Yeah, man. No, I appreciate you, brother. And so what we do here, it's not my quote, but it's one that I definitely like to say every episode is a rising tide lifts all ships. So every episode, what we're looking to do is bring you the tactics behind the strategy, cut through the Bs, and bring you the people that are getting it done every single day so you can continue to level up in your life and in your business. So again, if you like this podcast, please leave us a comment, share it with your friends, follow the Facebook page Instagram page. We are now streaming on all major platforms, and all of Josh's information. As we mentioned, all the courses everything are going to be right in the description. So please jump on there. show him some love jumping into some classes, continue to learn continue to grow, continue to become an absolute badass in your industry. Okay, and well make sure you're also head on over and listen to his podcast. All right, this is this is what we do all day. All right, he Josh took time out of his insane schedule to be here. So we've got to throw some social currency love and say, Hey, man, we really appreciate you and everything that you're doing. So please make, make sure you make your way over there. Lastly, if you're in the real estate business, and you're looking to change you want to level up in both your life and in your business. Feel free to shoot us a message on Instagram. Our team currently serves all the state of Florida and even more specifically the Miami in the keys and we would love to have a congress session with you so until next time this is Lucas Rowell signing off wishing you everlasting success in your life and in your real estate biz Thanks again See you Lucas