The Power of #Community & #Collaboration in #RealEstate with Dan Gomer

Have you ever considered the long-term impact of the real estate journey? The insightful discussion with Dan Gomer shed light on how the journey in real estate is just as important as reaching the destination.

In this episode, you will be able to:

• Master real estate investment strategies for success in the Denver market.
• Discover the invaluable benefits of real estate coaching for professional growth.
• Learn how to expand your real estate business with EXP for greater opportunities.
• Understand the impact of interest rates on the ever-changing real estate market.
• Uncover the valuable benefits of attending real estate networking events for career advancement.

The key moments in this episode are:
00:00:00 - Introduction to Real Estate Investing                

00:03:31 -  Structure of Exp and Super Agents Collaborative                 

00:06:12 -  Benefits of Networking at EXP Events          

00:09:54 -  Working on Business vs. in Business          

00:11:56 -   Real Estate Investing Training          

00:13:01 -   Denver Market Forecast          

00:16:43 -   Financial Impact on Real Estate Market                  

00:18:01 -   Family and Real Estate          

00:19:19 -   Embracing the Journey          

What are your thoughts on finding value in the journey and not just the end goal? Share your experiences and insights in the comments below!

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The recent NAR settlement is reshaping the landscape for real estate agents! 

With changes in how commissions can be negotiated, it’s more important than ever to align with a brokerage that supports your growth and adapts to industry shifts.

Why ELEVATION? We're a company that thrives on innovation and transparency. We understand the market’s new demands and are prepared to help you navigate these changes successfully.

With ELEVATION, you’re not just surviving the changes...you’re thriving in them!


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Connect with Dan Gomer on LinkedIn: 
https://www.dangomer.com/
https://www.linkedin.com/in/dan-gomer/

Connect with Derek Marlin and ELEVATION Investment Properties!
Derek on LinkedIn: http://www.linkedin.com/in/derekmarlin
ELEVATION’s website: https://elevationinvest.com/
ELEVATION on LinkedIn: https://www.linkedin.com/company/elevationinvestmentproperties
ELEVATION on Instagram: https://www.instagram.com/elevationinvest/
ELEVATION on Facebook: https://www.facebook.com/elevationinvestmentproperties

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#investmentproperty #realestateagent #entrepreneur #DanGomer #InvestmentProperty #RealEstate #Podcast #RealtorLife #RealEstateAgents
#RealEstateInsights #LuxuryProperty #MarketStrategies #PropertyPricing #RealEstateMarket #DanGomer

Transcript

0:00

Welcome to raising the flipping bar, the go to podcast for aspiring and seasoned real estate investors. I'm your host, Derek Marlin. And I'm the CEO of Elevation. We're a real estate investment company based right here in Denver, Colorado. We'll dive into smart investment strategies, market insights, and essential tips for scaling your real estate ventures. Whether you're making your first investment or your hundredth investment, this podcast is your blueprint for success in the ever evolving world of real estate investing. Get ready to elevate your real estate. Game and begin your journey with me. Hey, everybody. Welcome back to raising the flipping bar. I'm super excited. We are on part two with Dan Gomer. As you kind of can remember, Dan is a fantastic agent. He's a team lead. He's a coach, he's an author. He's a great father. And so if you haven't caught it, go back and listen to the first episode with Dan Gomer with Exp and what is Dan's home team? You'll get into here in the next episode what Dan's going to rebrand as, but a lot of great nuggets and a lot of great tips, whether you're an agent or whether you're a team lead. So let's jump into part two with Dan Gomer. And I'm excited to get you guys some more info. I've climbed quite a few 14 ers here in Colorado. As I'm thinking about my memories of climbing the 14 ers, the things that pop into my mind immediately are all of the things that happened on the journey to the top. I remember being on this ridiculous talus field with me and my brothers. It was just absolutely ridiculous. 100 yards straight up of just the loosest rock that you could imagine. It was horrible, but it was kind of cool and fun at the same time. Right? I have memories of my 1st 14 er and just being gassed on the way up. I have memories of, like, being behind lines of people. I have all these memories. And then I try to think of being on the top of the, oh, climbing the knife edge right on Capitol Peak. That was crazy. That was scarier than skydiving. That was absolutely insane. Look it up. Look up videos of the knife edge. It's crazy. But then I try to think of being up on the top and the one that I remember most is my very first one because it's awe inspiring, right? And after that, I try to think of actually standing on the top and the celebration on the top and everything. And I have very vague memories of being on the tops of the mountains, all of my important memories are the journey. And that's a great way of kind of exemplifying exactly how I was living my life for a long time. And real estate is like, mountaintop, mountaintop, mountaintop, mountaintop. Completely oblivious that the journey that I was taking was actually way more valuable than hitting 44 hundred. Yeah, that's a drop in the bucket. It's really about just remembering that one day we're gonna look back at whatever's happening in our life right now and we're gonna be like, oh, man, you remember when, like, that's where the juicy stuff is. Yeah, no, that's awesome. Well, and what I'd love to kind of give our audience a little bit of an overview of is kind of the structure of what you've got going. And the cool thing is, is that we also fit into your structure. So we met at a York Castle awards banquet and sat next to you and hit it off. And then we weren't really looking to make a change, but it was just this great relationship that we had built and timing is right for us to make a move. And so now we're part of, you know, the super agents collaborative that you're instrumental in. So maybe give our audience a little bit, let's call it that top down overview, because it's literally and figuratively can be many layers and go deep, whatever, but just maybe give us an idea of kind of the bigger structure. And then with Dan's home team, and I know you've got some exciting news, whether you want to share in the podcast or not, that's cool. But, like, I love to frame kind of our infrastructure, which again, we're. We're just happy to be the investment piece of your guys puzzle. But I'd love to share a little bit about the structure. Yeah. So one of the coolest things about EXP is that it's not. Well, I'll start with the big news is I'm rebranding. So I'm Dan's home team. I don't want it to be about me. We're going to completely rebrand everything and there's going to be like a big launch with the team. We're going to go through standards and visuals and mission and just get really clear on all of that. So I'm super, super excited about that. But the reason that I bring that up is because Exp is not about Dan or Dan's home team. It is a conglomerate of other organizations. It's elevation, Dan's home team, Purple Mountain group, and 5280 living and all of these other teams and groups that come together and collaborate as a whole. And that's what really makes Exp so special. So when you look at our organization, the SAC, the way that that whole thing came together is when I came over to Exp, Monica, myself and Barry decided, hey, why don't we team up? And so that's what we did. We decided to team up, and we formed the SAC, the super agent collaborative, which originally was composed of Barry's team, 52, Monica's team, Purple Mountain group, and my team Dan's home team. So we all had our own separate groups, but we acted as a whole. And then elevation came on. And now, as far as I know, I think we have ten separate teams within the SAC, just shy of 100 agents total. So, you know, it's beautiful because everybody can create their own thing but still be part of something bigger. Yeah. And I think talking about being part of something bigger, something that we were so excited about, like, we felt like we were welcome with open arms, was to be a part of your guys super agents collaborative organization. But even if you go, you know, the food chain, if you will, working with people like Jesse Zagorsky and his organization, where you're talking about people that have thousands of people in their sphere or in their big picture organization. But then we went to expcon and just hit it off, and you're just dealing with all these great people. Maybe talk a little bit about what we did when we were in Vegas last year. And they obviously pick fun locations. It's in Miami this year, which is great. But again, I don't have the best frame of reference because I was not at a large national brokerage before this. So I want to be super clear. Like, I'm sure other places have great networking too, but I was just shocked at the amount of access to our extended family, if you will, and then the value you get by being at those conferences and the business that you can generate. It's not all just rah rah. And, yeah, there's great motivational speakers, but it's like, no, we're here to get shit done and do business. Yeah, I'll start off by saying I hate rah rah bullshit. I really do. And so when I first came to exp, they were hosting a, like, a satellite event here in Denver. They called it a sprint event. And I don't know that they do those anymore or it was a one off thing or whatever, but Jesse was going to be there. And he encouraged me to go and I'm like, all right, since Jesse's encouraging me, I look up to him. All right, cool, I'll go. I thought it was going to be a rah rah, you know, I showed up into this room and there was 75 people and it was Glenn Sanford, Gene Frederick and, you know, whatever. I could go on and name more names, but the top, the top people at exp was there. But even more importantly, some of the best real estate agents across the entire country. It was unreal. Everybody that I sat next to, I'm like, you sold how many homes last year? Like 4500. The things that they were doing were absolutely astonishing. And so I was by far the smallest fish in that room, which is fantastic. Like, I loved it, but I didn't feel like a small fish. That's what was so cool is everybody was coming up to me and they're like, hey, who are you? Like, oh, I'm Dan. Oh, Dan from Denver. You know, like, tell me about your business. What do you have going on? They were like, you want me to come on a podcast? What can I do to support your business? What do you need help with? Like, they were coming to me and just like, let me help you. I didn't even have to ask for help. It was insane. And so that's when I was completely sold on the EXP model and what they've created that exemplified the caliber of person that is working in this company. So then I was like, okay, well, great, I'm going to go to the big events too. And the big events are fantastic too because you have just intimate access with everybody. I've met Glenn Sanford and had conversations with them many times. You know, there's really no reason for him to talk to me. I'm not blown up his company or anything like that. But he's there and he's accessible and so is everybody else. They're open books and they're willing to help. It's just an exercise in shaking hands with people from all around the world. You got five to 7000 people that just converge and take over multiple hotels in Vegas. We've got, what, three hotels in Miami? And we just take over the whole thing and we just network and learn and grow and build relationships and network in like other places. So you have connections. In fact, I just got a text yesterday from somebody who's not in my upline or downline or anything like that. But he's just a cool dude. His name's Alex and he's coming into Denver and so he texted me and Allison because he met my wife in Cabo. We went to an event together, and he's like, I'm coming to Denver. Let's hang out. Just little stuff like that, you know? I mean, ultimately, it's intangible. The real benefits, whether you're at Exp or not, if you are not going to the events and shaking hands with people that are doing bigger things than you, you are missing the boat. You're missing the boat. Just no two ways around it. There is so much intangible power that comes from connecting with good people from all around the world. You just can't lose. Yeah, man. I mean, there's just nothing else to say about it. Like, you just have to. You just have to go. And even if you're not part of Exp, you come to these events. Yeah, totally. Call me. Call Derek. We've got your ticket to come down there and hang out and see what it's all about. I promise you, you'll come home and you'll be like, yeah, I want to be part of this group, but you may not believe me until you actually try it. Yeah. And worst case is people get tons of great information and can go about their business, and we'll all do business together one way or the other, I think that works. But whether it's at those events or just something in general, is there a philosophy or something that you do to work on your business kind of big picture stuff versus in your business that I think people can get some benefit from? For me personally? Yeah, for you personally. So, again, whether you learned it at these things or whether it's just the general philosophy of, hey, this is what I do to help work on my business and grow the business than, like, day to day nitty gritty, returning emails, being in individual client meetings. So I am currently in the process of learning how to work on my business better. Okay. So I'm not innately a very good business person. I've shared a couple stories. Why? It's just not how I operate, but it is a learned behavior, so I'm learning how to do it. I've got a coach right now that I'm working with that's helping me effectively work on my business. But the reality is, at this point in my life, I am more working in my business and I really prefer, but that's where I'm at. I'm connecting with a lot of people, both agents and clients and offshoots of that. I talk to a lot of people, building a network, building a brand, just all of that kind of stuff. But at the same time, I'm finding ways to support, you know, you guys elevation and Adam and everybody that you have on your team. Like, how can I support you guys so that you can grow? Right? So as far as I see it, that's more working on the business, empowering other people to take the baton and run with it. So I'm trying to figure out what that balance is. Over time, I'll start to dial it in. But this is all part of that experiment that I'm talking about. If anybody's ever going to tell me, oh, well, I'm not a business owner, I don't know how to run a business, so I can't do it, I'm going to say b's because I don't either. And I figured it out. You can too, right? So this is going to be another great opportunity to change somebody else's life. So that's kind of how I see it. That's really what drives me through the pain is like, this isn't for me. I'm not pushing through the pain for me, I'm pushing through the pain because it's going to change somebody else's life down the line. So we're going to take a quick. Break and tell you about the next elevation academy. If you're looking to dive deep into real estate investing, this is definitely the event for you. Our academy features over a hundred step process to help you navigate every single thing, from market analysis all the way down to every aspect of project management. So this is tailored for both beginners and seasoned investors. And our one day intensive training will equip you with the strategies and insights needed to elevate your real estate investing game. Spots are definitely limited, so click on the link below in the show notes to sign up and transform your approach to real estate investing. Okay, let's get back to the episode. No, I think that's great. And I think the cool thing that you just said is you're working with a coach, you're working with somebody that's going to help you grow your business, they're going to probably help you individually. So I think people that are just doing that, that's working on the business and that's a big step a of people just try to like bite your teeth and grit through it on their own. And we don't all have the answers no matter what level we're at. So even just working with a coach, to me, was a huge step for him. Totally. Let's talk a little bit about the Denver market. I want to be sensitive your time. So we've got one more little segment, but, and again, I know this is crystal ball, and if we all had the perfect answers, you and I would be far wealthier and maybe we would be on that yacht somewhere. But I think it's so interesting because everybody that we have on the podcast has such different business models, different views, different experiences. This will come out almost smack dab in the middle of 2024. Where do you see things leaning towards the rest of the year? And then maybe just big picture. Thoughts on next year for Denver Metro Denver? Yeah, I was actually just talking about this. We do a team leader roundtable. That's fantastic, by the way. If you're a team lead and you want to connect with some other team leaders, it's brokerage agnostic. There's no recruiting, it's no nothing. It's just we come together and we just talk about how to be a better team leader, how to grow our team, whatever it is that we want to talk about. It's a great group. But we were just talking about this the other day and kind of, you know, sometimes how you talk about things and as you're talking about it, you kind of get some clarity. That was kind of happening. And so what I said was, what I think is going to happen next year is once the election is over, everybody's sitting on their hands right now. That that's part of it. There's other factors, but for the most part, people are sitting on their hands unless they have to move once the election's over, no matter who wins. I believe there's so much pent up demand, not just from buyers, but also from sellers. There's all these sellers that are like, yeah, I would move, but, like, buy. Right now I'm in a three and a half interest rate, whatever. Right. So what's going to happen, though, is they're finally just going to go up. That's it. I'm ready. Let's just bite the bullet and go. Everybody gets used to the interest rates at six, 7%. Get over it. It is what it is. I think we're going to have a huge spring where we're finally going to see an inventory increase, but we're also going to see buyers increase. So it's going to continue to be a more balanced market, but there's going to be inventory. Right now it's a balanced market, but there's no inventory. So it's really hard to make it as real estate agents. So those that are going to survive for the next year, theyre going to feast. Thats what I think. I think theres other factors that play into it, too. People are going to, I think I heard a stat, Scott Harshman, a lender, told me this the other day. I think he said 60% of people have a 3.5% interest rate or lower or something like that. Yes, eventually those are going to go away. Divorce, upgrading our house, new job, relocating, whatever. But the other aspect of it is people are going to have to start refinancing to pay off debt. Theres a lot of debt. And once they start refinancing to pull money out to pay off debt, theyre in a new interest rate. I think over the next two years, youre really going to start seeing that number, that 60% number just drop fairly significantly. I dont know what the break point is, but at some point theres going to be a breaking point where its like more people have a five to 8% interest rate than have a 3% interest rate. And thats going to really help drive the market, too. No, I think that's really good for you guys. I would rewind that and I would look at that because I 100% agree. There is data out there that shows that we're now back. We were at record high savings levels when Covid came because you had nowhere to go, nothing to spend money on. The government was giving us all free money. And then we've totally swung to the opposite side. We've got record high credit card debt as a United States society and probably globally as well. So if you're paying 20% or 24% on your credit cards, yeah, you hate to give up your 3%, but if you have to refi, not everybody can just do a heloc to pull money out. That's a great point. I think that that kicks in and then your apples to apples comparison is 6% to 6.5% or in the fives, not two and a quarter to 7.5 or whatever. So that was really astute. I think you're spot on. And then it becomes, I agree with you, a healthy, fairly balanced market with more volume, which if you're a real estate person and it helps investors too. Yeah, more volume is great on both sides of the coin for everybody. Yeah, I think you're spot on. Maybe I call myself an optimist, so who knows? Maybe I'm just an optimist. But yeah, no, I think that's good. And that's the cool thing about this, is I love to get everybody's crystal ball. And we're probably right on a few things and super wrong on other things, but it's interesting to go back and look and see. But I think that what that goes back to is look at the data. We can always have gut feels, and we should make our final decisions based on who we are and what our gut feel is. But if you're always winging it and you're not looking at data, to me, I think that's the recipe for disaster. Again, I kind of want to be respectful of your time. I've got one other little topic that I want to touch on is together you and I went to the epic campus, which we're very involved with. It's through Littleton public schools, and it's an entrepreneurship center and campus, and it was essentially a real estate career fair. You've got kids. Are both your kiddos in middle school or remind me of their ages? Yes. My daughter's ten. She'll be going into fifth grade, and my son will be going into 8th grade. Perfect. So they're right in that sweet spot. And this is for high schoolers for interest. And it was really cool. Dan actually brought his son to a real estate networking event, which I thought was awesome. And I gave my kids a hard time. I was like, I've made you work on our properties, but I haven't made you come to our events. And it didn't scare him away. No, he was great. He went around and he did his own intro and like, that was super cool. But what I would love to hear your thoughts on is real estate is such a unique career to me. There aren't a lot of people that I know of, unless you really want to go into, like, big development and corporate real estate, where you go to a university, you get a real estate degree, or you get a master's degree in real estate development or whatever, most people kind of find their way stumbling themselves into real estate. So I think it's definitely different. But tell me a little bit about, you obviously were an educator. You went to UNC for college. Do you want your kids to go into real estate? Do you feel like college is critical for that? Tell me a little bit about your thoughts on that. Yeah. So what I've told my kids is my only requirement is that they both get their license. And the only reason that I'm requiring them to do that is because I'm at Exp. Whether they ever buy or sell a house is irrelevant, but I'm going to put them in my downline I'm going as new people come over and see the vision for what our team is creating. Instead of putting them directly under me, I'm going to put them under my kids. So I'm still going to be the resource. But there's a go between. And every time that person closes the sale, my son or my daughter will get a split and I'm going to put it into a bank account and they can do whatever the heck they want with it, you know, whatever. So they're required to get their license. I think my son is probably going to do. Do real estate in some form or fashion. I don't know exactly how, but I just. I don't see him not, you know, so I think it's going to be a good fit for him. My daughter has absolutely no interest. Who knows? Things will change. I hope they team up at some point because they would make a. They're so opposite, but then overlap in certain spots. They would be a perfect duo. So we'll see what happens with all of that. But required to get their license, but I'm not going to push them into real estate. Yeah, that's awesome. Well, as we wrap up, I'm going to give you a second to think about maybe one last thing that you want to leave the audience with. But in the meantime, as we always say. I know, again, it's always cheesy, but I feel like I'm talking to my daughters. Like subscribe, follow us. More importantly, connect with us. We want to hear your thoughts on whether it's what Dan and I have talked about with some unique ways that people run brokerages, whether it's fix and flips, whatever. Connect with us. But Dan, is there something else that you want to just leave the audience with? Yeah, I would go back to it's about the journey. Real estate is an amazing vehicle. An amazing vehicle. But it's also really easy to lose ourselves in the pursuit of whatever it is we're going after in real estate. I think that there's a fair amount of burnout in our industry right now, and I think that that's a big driver for it. You know, if you're investing in real estate or you're a real estate agent, just maybe take a moment, take a breath. Like, relax. Remember, it's about the journey. It's not about finalizing that flip and getting the big payday. That's great. But it's about, man, I remember there's. I just saw Troy, my old partner, and he pulled out his phone when we were at the pool. He's like, hey man, you remember I can't remember which Eaton street or whatever it was. I'm like, yeah. He's like, oh dude, I had this memory show up and he shows me his phone and it's me with a sledgehammer in slow motion, like smashing out the side of a cabinet when it explodes in slow motion. He's like, you remember that? I'm like, oh yeah, I remember that, man. The next day I got electrocuted in the light socket. Yeah, I remember that. But those are the cool stories. My only big piece of advice is slow down, take it all in. One day you're not going to be so busy. One day you're not going to be in the position that you're in and you're going to wish that you were. Yeah, just slow down and enjoy the ride. Love it. Well, Dan, thank you so much for being a guest. I hope you guys got value from this and we'll catch you guys on the flip side. Thanks for tuning in to this week's episode of raising the flipping bar. If you found value in our insights and stories, let's keep the conversation going. Connect with me on social media and be sure to share this episode with with friends or colleagues who might benefit. Your feedback and reviews help us grow and reach more listeners like you. So please, if you enjoyed this episode. Leave us a review. Thanks again to the elevation Academy for sponsoring today's show. If you're interested in learning more, click the link in the show notes below. And remember, every property tells a story. Every deal brings a lesson. Keep reaching for those goals and we'll catch you on the flip side. Hey everybody, thank you so much for listening and watching raising a flipping bar. Just a basic overall disclaimer is that a this is not legal advice b this is not tax advice c this is not financial advice. I hope you get the gist, but I'm obviously not a lawyer, not a CPA. Hell, I'm not even a real estate agent, actually. But in general, we hope you get a ton of value out of this. But there is a bit of a disclaimer. Please consult a professional if you have any questions whatsoever. Thanks for tuning