1 00:00:00,870 --> 00:00:03,840 Seven figure success starts when you start thinking like a CEO. 2 00:00:04,050 --> 00:00:08,340 Welcome to the John Kitchens Coach podcast experience as your host, John Kitchens. 3 00:00:08,940 --> 00:00:11,310 Get ready to think bigger and transform your business into 4 00:00:11,310 --> 00:00:13,020 a path to lasting freedom. 5 00:00:17,285 --> 00:00:19,740 I What is happening, man. 6 00:00:19,800 --> 00:00:21,450 Super excited to be, uh. 7 00:00:22,125 --> 00:00:25,245 Back on another episode of the One Big Fire podcast. 8 00:00:25,305 --> 00:00:27,765 Got the boys in the house, no guest this week, just us. 9 00:00:27,765 --> 00:00:31,785 So we get to, uh, we get to dive in, chop it up, hit things that are, uh, 10 00:00:32,295 --> 00:00:38,745 top of mind pressing and let's get it man, man, just the momentum right now. 11 00:00:38,745 --> 00:00:41,385 Jay, you just said you brought over a hundred agent. 12 00:00:41,385 --> 00:00:43,155 Team Caleb. 13 00:00:44,190 --> 00:00:45,269 What, what are you seeing out there? 14 00:00:45,269 --> 00:00:48,449 Yeah, I'm hearing, I'm hearing, um, you know, it, it's really interesting 15 00:00:48,449 --> 00:00:51,929 because, um, you know, I'm having the, you know, the same, same as always, 16 00:00:51,929 --> 00:00:55,410 a lot of conversations with agents, you know, that, that, you know, from, 17 00:00:55,470 --> 00:00:58,679 you know, the machine that we built that's, you know, recruiting a lot of, 18 00:00:58,739 --> 00:01:02,699 a lot of people coming over, a lot of better, um, a lot of agents that, that 19 00:01:02,699 --> 00:01:05,340 close, you know, 12 to 25 transactions. 20 00:01:05,340 --> 00:01:09,660 But, but it feels to me like there's been more bigger teams, 21 00:01:09,750 --> 00:01:11,970 uh, independent conversations. 22 00:01:12,450 --> 00:01:17,460 Um, bigger players that are, that are all about to launch and so, yeah. 23 00:01:19,710 --> 00:01:20,220 It feels good. 24 00:01:20,220 --> 00:01:23,490 That's been, it's been a little while since I've felt like that, so, uh, 25 00:01:23,490 --> 00:01:26,280 I love seeing, you know, the bigger teams coming over and the bigger 26 00:01:26,280 --> 00:01:29,460 independents and, you know, the influence influencers and all that. 27 00:01:29,460 --> 00:01:30,600 That's all good for the company. 28 00:01:30,600 --> 00:01:36,930 So what is the, what is the kind of common theme pain point that they're feeling to. 29 00:01:37,235 --> 00:01:38,405 To, to, to make a move. 30 00:01:38,405 --> 00:01:41,555 Are, are they coming for, uh, moving away from pain? 31 00:01:41,555 --> 00:01:45,425 Are they, are they coming over to move more to, to opportunity? 32 00:01:45,455 --> 00:01:45,665 Yeah. 33 00:01:45,665 --> 00:01:47,015 You know, the whole pain, pleasure. 34 00:01:47,195 --> 00:01:48,112 So what do, do you see? 35 00:01:48,112 --> 00:01:49,445 Yeah, it's a great question, John. 36 00:01:49,445 --> 00:01:53,615 You know, um, I think, you know, a couple of 'em have been just timing. 37 00:01:53,675 --> 00:01:56,225 You know, they, they would've came earlier, but, you know, they were in 38 00:01:56,225 --> 00:01:59,825 a deal or, you know, in a contract, some type of contract that couldn't, 39 00:01:59,825 --> 00:02:02,225 you know, they couldn't get out or it didn't make sense to leave. 40 00:02:02,735 --> 00:02:03,425 Um. 41 00:02:04,155 --> 00:02:06,075 And, you know, those are all super positive. 42 00:02:06,075 --> 00:02:09,525 But, but I think, you know, I think a lot of folks are coming for the opportunity. 43 00:02:09,525 --> 00:02:12,915 I think, you know what, you know, we just, you know, experienced 44 00:02:12,915 --> 00:02:17,025 the, the slowest two years in, you know, real estate since 1995. 45 00:02:17,685 --> 00:02:22,605 So, you know, the upside here is, you know, maybe it's not this year we see 46 00:02:22,605 --> 00:02:25,995 the big uptick, but certainly the next year, you know, so I think there's a lot 47 00:02:25,995 --> 00:02:29,745 of excitement and, and, you know, um. 48 00:02:30,120 --> 00:02:31,560 All things that'll be good for housing. 49 00:02:31,560 --> 00:02:35,310 So, you know, I think we're seeing that, you know, people that are, you 50 00:02:35,310 --> 00:02:39,840 know, struggled for their couple years to figure out how to, you know, build 51 00:02:39,840 --> 00:02:42,420 a sustainable, consistent business. 52 00:02:42,510 --> 00:02:45,359 That's been a lot of the, the individual agents that I talked to 53 00:02:45,359 --> 00:02:47,339 are, are they all say the same thing. 54 00:02:47,339 --> 00:02:48,930 It's, it's 100% of them. 55 00:02:49,485 --> 00:02:51,675 What I was doing before isn't working anymore. 56 00:02:51,675 --> 00:02:53,235 I need something more consistent. 57 00:02:53,265 --> 00:02:56,655 I need a, you know, I need something that's gonna bring me a couple deals a 58 00:02:56,655 --> 00:02:58,095 month consistently, two to three deals. 59 00:02:58,095 --> 00:03:01,335 And so that's, you know, that's the conversations that, you know, the 60 00:03:01,335 --> 00:03:02,745 individual agents are, are having. 61 00:03:03,165 --> 00:03:05,595 And, um, you know, they're, they're just not getting support. 62 00:03:05,595 --> 00:03:06,375 They're not getting help. 63 00:03:06,375 --> 00:03:09,285 They're not, you know, they're not, you know, they're not getting 64 00:03:09,285 --> 00:03:11,865 anywhere with, and they're, and they're, they're done with that, 65 00:03:11,975 --> 00:03:13,454 you know, two years of it is enough. 66 00:03:13,454 --> 00:03:15,675 And so I think that's been, that's been the temperature of 67 00:03:15,675 --> 00:03:16,965 the conversations that I've had. 68 00:03:17,280 --> 00:03:21,060 Um, and, and then, yeah, a lot, a lot of influencer, influential, bigger teams. 69 00:03:21,735 --> 00:03:25,665 Um, you know, again, you know, even those teams struggle just as bad, right? 70 00:03:25,665 --> 00:03:29,445 Even when the market's, you know, when the market's down, even though they're doing 71 00:03:29,565 --> 00:03:32,865 a lot of numbers, it's a lot of pressure on them to get back in production. 72 00:03:33,105 --> 00:03:34,935 You know, the grind is worse, right? 73 00:03:34,935 --> 00:03:38,985 So you're just grinding, and when things are really good, you kind of, you know, 74 00:03:38,985 --> 00:03:42,105 you can kind of, you know, you can kind of pick and choose the deals you want to do. 75 00:03:42,450 --> 00:03:46,115 When times are tight, you know, you find yourself out in the grind again and you 76 00:03:46,115 --> 00:03:49,230 know, that will make you wake up and go, man, there's gotta be a better way. 77 00:03:49,650 --> 00:03:50,880 There's gotta be a better way. 78 00:03:50,880 --> 00:03:53,490 And you know, when, when the gate of the mind is open, you know, 79 00:03:53,550 --> 00:03:55,140 the, the better way is very clear. 80 00:03:55,140 --> 00:03:58,770 And that is definitely exp So, so that's been, you know, kind of 81 00:03:58,770 --> 00:03:59,790 the conversation I've been having. 82 00:03:59,790 --> 00:04:02,995 I don't know anything, anything different You're feeling or hearing John? 83 00:04:03,150 --> 00:04:05,700 John Jay, I wanna get your opinions on this and I do wanna mention, we're 84 00:04:05,700 --> 00:04:08,310 gonna talk about, you know, our. 85 00:04:12,210 --> 00:04:18,090 Really just suffering a devastatingly, un unimaginable, um, you know, 86 00:04:18,090 --> 00:04:21,510 experience with the fires going on and literally burning entire cities down. 87 00:04:21,870 --> 00:04:23,790 So many people, uh, being affected by it. 88 00:04:23,790 --> 00:04:29,070 Our boy, Cal Whistle and his team, even though he is not in la, they're down 89 00:04:29,070 --> 00:04:32,820 in San Diego, they're doing, they're throwing their head in to best of help. 90 00:04:33,030 --> 00:04:38,160 Uh, shout out to Kyle for, um, just being an amazing human being and, uh. 91 00:04:39,645 --> 00:04:41,445 In, in, in a minute here. 92 00:04:41,955 --> 00:04:44,475 Um, because there's some things that I want to talk about, what we're, what's 93 00:04:44,475 --> 00:04:47,715 gonna happen in that area, because we're talking about one of the most 94 00:04:48,015 --> 00:04:53,775 wealthy areas, most highest priced, you know, that's completely decimated. 95 00:04:54,015 --> 00:04:55,035 There's nothing left. 96 00:04:55,515 --> 00:04:57,975 And, and so they're starting from scratch and it's gonna 97 00:04:57,975 --> 00:04:59,175 take a long time to rebuild. 98 00:04:59,355 --> 00:05:04,035 But getting back to, um, you know, the, the agents right now that we're 99 00:05:04,035 --> 00:05:05,475 seeing, the teams that we're seeing. 100 00:05:06,060 --> 00:05:12,659 There's a theme that keeps coming up and I wanna know, and Jay, uh, I think it was 101 00:05:12,659 --> 00:05:15,510 about a week ago, it was a Saturday night. 102 00:05:15,930 --> 00:05:18,960 I was feeling good, you know, I had a couple glasses of wine in me 103 00:05:19,229 --> 00:05:22,320 and my, and I had to get 'em out. 104 00:05:22,620 --> 00:05:26,219 And so I talked about this theme that I'm seeing, and I'm wondering if this is gonna 105 00:05:26,219 --> 00:05:31,620 be the next thing, because I'm seeing is that I'm seeing teams merging together. 106 00:05:32,010 --> 00:05:32,760 I'm seeing. 107 00:05:33,300 --> 00:05:37,950 Like, when you kind of think about the evolution of the team and we, we, we had 108 00:05:37,950 --> 00:05:41,010 that awesome podcast, the three of us did on death of the real estate broker. 109 00:05:41,130 --> 00:05:41,219 Mm-hmm. 110 00:05:41,219 --> 00:05:42,540 Death of the real estate team. 111 00:05:42,540 --> 00:05:43,650 What does that actually mean? 112 00:05:44,219 --> 00:05:48,240 What I'm, what we've seen over the last seven years is we've seen the 113 00:05:48,240 --> 00:05:53,040 team entity I. Change and actually start gobbling up brokerages. 114 00:05:53,040 --> 00:05:57,180 What I mean by that is my brokerage, my little brokerage became a team 115 00:05:57,870 --> 00:06:01,830 big, you know, uh, I don't know if necessarily Chuck Fazi and them did it 116 00:06:01,830 --> 00:06:07,170 with, with, with Revelation, but you know, we see a lot of these brokerages 117 00:06:07,500 --> 00:06:11,430 that come in and they merge over here to exp and they become a team. 118 00:06:11,430 --> 00:06:16,050 So the team is gobbling up the brokerage model, which I think is fascinating. 119 00:06:16,380 --> 00:06:21,570 But have you guys seen or heard of teams combining forces? 120 00:06:21,930 --> 00:06:26,370 I know we tried to do it a couple years into this Jay with with our boy 121 00:06:26,370 --> 00:06:27,870 Matt Chase and the Chase Brothers. 122 00:06:28,080 --> 00:06:30,090 That was a fun rollercoaster ride, right? 123 00:06:30,840 --> 00:06:32,880 And you know, it didn't work out for certain reasons, but there 124 00:06:32,880 --> 00:06:36,720 were things that actually were beneficial to both of our teams. 125 00:06:37,275 --> 00:06:38,775 We just couldn't make the culture thing work. 126 00:06:39,195 --> 00:06:43,425 But I really think that that's what we're gonna see a lot more of consolidation. 127 00:06:43,695 --> 00:06:45,195 We're seeing teams combine. 128 00:06:45,345 --> 00:06:49,275 What are you, are you guys seeing that and what are your thoughts on the idea 129 00:06:49,545 --> 00:06:53,385 of like, you know, teams combining into a mega team type of situation? 130 00:06:54,195 --> 00:06:54,465 Hmm. 131 00:06:55,215 --> 00:06:55,395 Yeah. 132 00:06:55,395 --> 00:06:58,755 I, I have, you know, I have, I've been hear, I've been hearing bigger 133 00:06:58,755 --> 00:07:00,825 teams gobbling up smaller teams. 134 00:07:01,125 --> 00:07:01,695 Um. 135 00:07:02,340 --> 00:07:06,180 You know, that's been, um, you know, uh, I think the strategy around, you 136 00:07:06,180 --> 00:07:09,480 know, Zillow and, and you know, how they're setting up, you know, these 137 00:07:09,720 --> 00:07:13,770 Zillow flex accounts is enabling, you know, some of the better operators 138 00:07:13,770 --> 00:07:18,300 to kind of, you know, uh, put teams together and, and go, you know, expand 139 00:07:18,300 --> 00:07:19,800 into markets and things of that nature. 140 00:07:19,800 --> 00:07:23,130 But outside of that, I haven't really heard that many teams going together. 141 00:07:23,400 --> 00:07:25,020 I mean, it's hard. 142 00:07:25,020 --> 00:07:27,780 I mean, as you know, Al, I would say that that's. 143 00:07:28,155 --> 00:07:33,255 That sounds like a very challenging path to take and, um, you know, 144 00:07:33,255 --> 00:07:37,065 you have to have the two, you know, leaders with the right egos in 145 00:07:37,065 --> 00:07:38,595 place to do something like that. 146 00:07:38,595 --> 00:07:42,915 And you gotta know how to co-brand, um, or determine your, you know, how 147 00:07:42,915 --> 00:07:46,755 you're gonna effectively build your brand, which would be a very challenging 148 00:07:46,755 --> 00:07:48,165 thing for most people, I would think. 149 00:07:48,550 --> 00:07:48,840 Yeah. 150 00:07:53,370 --> 00:07:56,070 In theory, it makes, it, makes, makes sense, right? 151 00:07:56,070 --> 00:07:59,190 You know, Hey, we can share resources, we can kind come, come together. 152 00:07:59,970 --> 00:08:03,060 You know, our, our experience of this was. 153 00:08:04,095 --> 00:08:06,165 Are we gonna buy Coldwell Banker Crossroads? 154 00:08:06,165 --> 00:08:08,175 Are we not gonna buy Coldwell Banker Crossroads? 155 00:08:08,295 --> 00:08:13,455 And, you know, consolidating and running as one for, you 156 00:08:13,455 --> 00:08:16,695 know, an 1218 month stretch. 157 00:08:16,965 --> 00:08:18,135 And it was. 158 00:08:18,525 --> 00:08:22,005 It was night and day fighting each other because you have one 159 00:08:22,005 --> 00:08:23,595 culture versus another culture. 160 00:08:23,685 --> 00:08:23,775 Yeah. 161 00:08:24,255 --> 00:08:27,345 And, and different leadership styles, and different leadership 162 00:08:27,345 --> 00:08:29,175 principles, different values. 163 00:08:29,685 --> 00:08:35,205 So it just, it, it made it really, really challenging, really, really hard to, 164 00:08:35,205 --> 00:08:38,865 to make that come together, to make it, to make it work, to make it make sense. 165 00:08:39,315 --> 00:08:43,695 Where I, I think you could is, is kind of a, a, a, a bleed 166 00:08:43,695 --> 00:08:47,745 out, um, you know, if you're, if you're kind of the, the inkblot. 167 00:08:47,939 --> 00:08:50,730 You know, theory, if you're, if you're kind of expanding, like what we were 168 00:08:50,730 --> 00:08:54,390 able to do, just in a simple example, bleeding marketing over into Duncan, 169 00:08:54,390 --> 00:08:56,670 Oklahoma, finding a, a true rock star. 170 00:08:56,670 --> 00:09:00,540 She's still there to this day, which like, God bless her, you know? 171 00:09:00,600 --> 00:09:02,819 Um, but just bleeding out. 172 00:09:02,819 --> 00:09:03,600 It makes sense. 173 00:09:03,600 --> 00:09:07,380 I think, you know, the one thing that we found, and this kind of 174 00:09:07,380 --> 00:09:08,970 goes back to my, to my second point. 175 00:09:10,635 --> 00:09:14,745 Patrick Lencioni wrote a great book called The Motive, and it was one of 176 00:09:14,745 --> 00:09:17,355 the books that he released later on. 177 00:09:17,475 --> 00:09:22,214 Um, I think he, I think he threw it out there in 20 And we know how, you 178 00:09:22,214 --> 00:09:25,995 know, instrumental, the advantage was for us in our career and our thinking 179 00:09:25,995 --> 00:09:30,165 as, as business owners and moving into the future, the motive should have 180 00:09:30,165 --> 00:09:32,235 came out even before the Advantage. 181 00:09:32,505 --> 00:09:36,615 And the Fable, inside of the motive is two companies coming together. 182 00:09:36,645 --> 00:09:42,314 Two CEOs coming together and one had to let go of the ego, and that's 183 00:09:42,314 --> 00:09:44,415 the whole outcome over ego concept. 184 00:09:45,135 --> 00:09:50,235 Get what is right, let's get to right and let me get where my heart is. 185 00:09:50,730 --> 00:09:52,650 Only one can be CEO, right? 186 00:09:52,650 --> 00:09:53,940 There's only one name in the box. 187 00:09:53,970 --> 00:09:56,640 You can't, you can't have, you can't have two head of company. 188 00:09:57,180 --> 00:10:01,740 So one, when you do bring that merger together, somebody's gotta relinquish. 189 00:10:02,220 --> 00:10:05,730 I'm not head of company and it's, and it's for anybody that's coming 190 00:10:05,730 --> 00:10:09,060 together with it, I would don't do it unless you read the motive. 191 00:10:09,480 --> 00:10:12,600 Because what it talks about is one of them ends up taking head of marketing 192 00:10:12,600 --> 00:10:16,140 and one of 'em takes head of head of company and they came together. 193 00:10:16,415 --> 00:10:20,345 So I think it's just, just understanding that in theory it makes sense, but it 194 00:10:20,345 --> 00:10:24,845 takes great leaders and great, I, let me step aside, not let my ego get in the way. 195 00:10:24,845 --> 00:10:25,625 What is the goal? 196 00:10:25,625 --> 00:10:26,915 What are we trying to accomplish? 197 00:10:27,425 --> 00:10:28,625 Outcome over ego. 198 00:10:28,955 --> 00:10:30,455 And let me get in my lane. 199 00:10:30,575 --> 00:10:32,705 And you get in your lane and then let's go. 200 00:10:32,765 --> 00:10:40,325 And you look at why statistically that's probably the best move to do because. 201 00:10:40,535 --> 00:10:43,290 What's the probability of you going into a new market and starting from 202 00:10:43,290 --> 00:10:44,820 scratch that you're gonna succeed? 203 00:10:44,820 --> 00:10:48,360 What is this failure, success rate of new, new entities, new companies? 204 00:10:48,690 --> 00:10:52,500 That's why, you know, the whole mergers and acquisitions, why just go 205 00:10:52,500 --> 00:10:55,320 gobble 'em up, go buy 'em instead of trying to start it from scratch, is 206 00:10:55,320 --> 00:10:57,030 just a higher probability of success. 207 00:10:57,030 --> 00:10:57,750 Uh, so yeah, that makes sense. 208 00:10:57,750 --> 00:11:01,890 So, so, so essentially John and Al you, you guys think that this 209 00:11:01,890 --> 00:11:06,480 is more of an a, a new version of expansion into new marketplaces. 210 00:11:08,025 --> 00:11:09,855 That would make, that would make sense to me. 211 00:11:09,855 --> 00:11:13,425 'cause like everything about this sounds like, yeah, that's gonna be a like a 212 00:11:13,545 --> 00:11:14,925 go over, like a tur and a punch bowl. 213 00:11:14,925 --> 00:11:20,204 Like you had mentioned Zillow, and I don't wanna make the conversation 214 00:11:20,204 --> 00:11:24,045 solely about Zillow, but I think that certain people, and I'll name. 215 00:11:24,315 --> 00:11:26,715 The first one that comes to mind is Kyle, Kyle Whistle. 216 00:11:26,715 --> 00:11:31,035 'cause we had an extensive conversation about what he's done in San Diego 217 00:11:31,035 --> 00:11:32,175 with his Zillow Flex account. 218 00:11:32,175 --> 00:11:37,665 He, you can't get Zillow Flex if, unless you're on Zillow, on Kyle's team. 219 00:11:37,845 --> 00:11:39,345 He literally owns the whole county. 220 00:11:39,825 --> 00:11:40,875 Like you can't buy a zip. 221 00:11:40,875 --> 00:11:42,585 He, he, it's all his. 222 00:11:42,585 --> 00:11:43,605 He's monopolized it. 223 00:11:44,385 --> 00:11:49,305 And from a strategic standpoint, I mean that's huge like that, you know. 224 00:11:49,515 --> 00:11:51,495 And do you have to play the game? 225 00:11:51,615 --> 00:11:52,245 Yes. 226 00:11:52,710 --> 00:11:55,590 It's the same thing I started, you know, the, the, the, the correlation that I 227 00:11:55,590 --> 00:12:01,740 started making with Kyle's situation, it reminded me, kind of an REO how 228 00:12:01,740 --> 00:12:05,640 some people went REO when REO started getting popular and you saw the, the 229 00:12:05,640 --> 00:12:12,630 r the REO guys went from driving, you know, a little Ford focus to a Mercedes. 230 00:12:13,319 --> 00:12:14,730 And of course then that went away. 231 00:12:14,760 --> 00:12:20,040 But you guys remember that back in oh oh 7, 0 8, 0 9 2005, 2010, those REO 232 00:12:20,040 --> 00:12:21,780 guys were driving really nice cars. 233 00:12:21,824 --> 00:12:21,854 Okay. 234 00:12:22,425 --> 00:12:23,895 But it was a system. 235 00:12:24,104 --> 00:12:25,665 They were playing a different game. 236 00:12:25,935 --> 00:12:29,594 They had very, very little upside, like the revenue per deal was 237 00:12:29,594 --> 00:12:31,665 very low, but it's a volume play. 238 00:12:31,844 --> 00:12:33,645 You have to have your systems together. 239 00:12:34,064 --> 00:12:35,865 And the same thing with Zillow. 240 00:12:36,525 --> 00:12:40,665 Yes, it's a, but you, you can't look at it as that initial transaction. 241 00:12:40,844 --> 00:12:43,305 You have to look at it, the lifetime value of that client. 242 00:12:43,485 --> 00:12:43,785 Yeah. 243 00:12:43,844 --> 00:12:49,005 You might be getting a 35 to 40% commission, or excuse me, referral 244 00:12:49,005 --> 00:12:50,324 fee taken right off the top. 245 00:12:50,685 --> 00:12:53,505 Then you split it with the team, and there may not be a whole 246 00:12:53,505 --> 00:12:56,535 lot left over at that point, but they're not looking at it that way. 247 00:12:56,655 --> 00:12:58,155 They're looking at the long game. 248 00:12:58,395 --> 00:13:01,965 But think about all, all of the clients that they're just stacking into their 249 00:13:01,965 --> 00:13:06,285 database for the lifetime value of that client, and they're looking at over the 250 00:13:06,285 --> 00:13:09,765 long, they're not gonna pay that 40% the, the second transaction or the third 251 00:13:09,765 --> 00:13:11,655 transaction, or any referrals they give. 252 00:13:12,075 --> 00:13:13,905 So I, I, I like it. 253 00:13:14,175 --> 00:13:18,645 What it boils down to in a kind of a caveman thing is if you had two teams. 254 00:13:19,050 --> 00:13:22,170 And they were operating, obviously both have a p and l with expenses. 255 00:13:23,130 --> 00:13:27,180 One of the goals, I think, initially, just the way my brain works, is if you 256 00:13:27,180 --> 00:13:30,930 combine those two expenses and you looked at their total amount of expenses, the 257 00:13:30,930 --> 00:13:35,400 goal would be to reduce that amount of as much as possible through efficiencies. 258 00:13:35,670 --> 00:13:37,230 So that would be reason one. 259 00:13:38,130 --> 00:13:39,540 Reason two, the big team. 260 00:13:39,540 --> 00:13:41,969 Why would the big team wanna suck up the small team? 261 00:13:42,270 --> 00:13:44,010 For their producing agents. 262 00:13:44,130 --> 00:13:47,910 That's the only, it's to reduce expenses and increase productive 263 00:13:47,910 --> 00:13:51,960 A, their productive agent count so that they can sell more units. 264 00:13:52,170 --> 00:13:55,860 Those are the only two reasons I could think of for merging, but there's a 265 00:13:55,860 --> 00:13:58,230 lot of these other things that have to be figured out, like culture. 266 00:13:58,425 --> 00:13:58,845 Mm-hmm. 267 00:13:59,705 --> 00:14:00,125 Mm-hmm. 268 00:14:00,585 --> 00:14:01,005 Big time. 269 00:14:01,530 --> 00:14:01,829 Yeah. 270 00:14:02,400 --> 00:14:03,719 Culture is the big thing, right? 271 00:14:03,719 --> 00:14:06,959 And you think about, like, even to the, to as we were kind of talking through 272 00:14:06,959 --> 00:14:11,160 this, and you know, my default always comes back down to leadership and, 273 00:14:11,160 --> 00:14:14,189 and you think like, uh, we're, we're starting to see a bunch of people change. 274 00:14:14,189 --> 00:14:19,860 A bunch of people leave and it's a, it's a leadership equation, right? 275 00:14:19,860 --> 00:14:22,170 They're, they're probably not being led the right way. 276 00:14:22,170 --> 00:14:23,910 The leadership is not being provided. 277 00:14:24,030 --> 00:14:30,209 And, and so yeah, I mean that they, they start looking in, in that direction, man. 278 00:14:30,600 --> 00:14:35,790 I, I just have seen people leave situations for some of the oddest 279 00:14:35,790 --> 00:14:40,620 things I know, but, but when you distill it down, what is it? 280 00:14:40,830 --> 00:14:44,940 It's, it's, they're just not being led or being felt like, you know, they're 281 00:14:44,940 --> 00:14:47,490 a value to, to that organization. 282 00:14:47,490 --> 00:14:50,730 And I think it's just a leadership void that you're starting to see. 283 00:14:50,730 --> 00:14:53,670 And especially a bunch of these mom and pops and, and legacy 284 00:14:53,670 --> 00:14:54,750 brands that are out there. 285 00:14:54,750 --> 00:14:57,600 They just, they just don't have the, you know. 286 00:14:58,350 --> 00:15:01,260 The value and the, and the leadership capabilities to, to 287 00:15:01,260 --> 00:15:03,060 really pour into the people. 288 00:15:03,330 --> 00:15:06,870 You're not wrong, John, but the other side of that coin is, is that 289 00:15:07,230 --> 00:15:11,040 as a vast, I would say majority of real estate agents aren't coachable. 290 00:15:11,370 --> 00:15:13,320 I mean, there's a portion that are court coachable. 291 00:15:13,320 --> 00:15:13,321 Mm-hmm. 292 00:15:13,575 --> 00:15:14,075 But mm-hmm. 293 00:15:14,640 --> 00:15:15,720 The majority of 'em are. 294 00:15:15,725 --> 00:15:16,075 Mm-hmm. 295 00:15:16,155 --> 00:15:21,630 I mean, would you say that 60%, which sets us right over the 50%, would you 296 00:15:21,630 --> 00:15:24,990 say that 60% of real estate agents that have licenses are coachable? 297 00:15:26,130 --> 00:15:29,880 I wouldn't, I wouldn't say that that's a no 50%. 298 00:15:29,910 --> 00:15:32,849 I, I would say, I would say, well, how many real estate agents 299 00:15:33,959 --> 00:15:35,579 closed a transaction last year? 300 00:15:36,300 --> 00:15:36,599 Right. 301 00:15:36,599 --> 00:15:37,170 Start there. 302 00:15:37,170 --> 00:15:39,719 And then what is the percentage of those people that are coachable? 303 00:15:39,719 --> 00:15:40,650 Mm-hmm. 304 00:15:41,115 --> 00:15:41,334 Yes. 305 00:15:41,760 --> 00:15:41,910 Yeah. 306 00:15:41,910 --> 00:15:44,370 That would be a really much more interesting number there. 307 00:15:45,000 --> 00:15:45,329 Yes. 308 00:15:45,390 --> 00:15:45,660 Yeah. 309 00:15:47,010 --> 00:15:48,089 So, yeah. 310 00:15:48,094 --> 00:15:49,979 I, I, I mean yeah, absolutely. 311 00:15:49,979 --> 00:15:53,640 To, to your point, and, but I think it's, it's. 312 00:15:55,110 --> 00:15:58,110 Those that are, that are looking for a bigger future, man, I just keep 313 00:15:58,110 --> 00:16:02,699 defaulting back to the motivation and and vision equation that PBD talked 314 00:16:02,699 --> 00:16:05,550 about, um, al in the training, right? 315 00:16:05,550 --> 00:16:10,530 He said the number one indicator that I see is that if you struggle with 316 00:16:10,530 --> 00:16:12,180 motivation, just means you have no vision. 317 00:16:13,020 --> 00:16:15,870 If you have a strong enough vision, you never need to be motivated. 318 00:16:16,709 --> 00:16:17,610 It's always there. 319 00:16:18,360 --> 00:16:20,250 And what he and, and. 320 00:16:21,135 --> 00:16:23,265 You know, for real estate agents listening to this, guys, if you're 321 00:16:23,265 --> 00:16:28,604 doing it for the money, once your financial needs are met, foot off gas. 322 00:16:28,964 --> 00:16:30,584 I mean, we learned that experience. 323 00:16:30,584 --> 00:16:35,204 Like, I remember we were sitting in, uh, we were sitting in the 324 00:16:35,204 --> 00:16:37,875 house 'cause in your office and, um, 325 00:16:40,520 --> 00:16:44,500 uh, con Valley out in, in the house. 326 00:16:45,045 --> 00:16:45,375 Yep. 327 00:16:45,494 --> 00:16:50,354 And we're really trying to dial in this, this salaried agent model. 328 00:16:50,359 --> 00:16:50,530 Right? 329 00:16:50,535 --> 00:16:50,834 Right. 330 00:16:50,834 --> 00:16:51,885 We're getting you out. 331 00:16:52,035 --> 00:16:56,385 We're moving states in, and we're like, where does compensation need to be? 332 00:16:57,255 --> 00:16:57,885 Well, I don't know. 333 00:16:57,885 --> 00:17:00,255 Let's look at the last three years. 334 00:17:00,314 --> 00:17:00,435 Mm-hmm. 335 00:17:01,125 --> 00:17:06,585 Of what was earned within $2,000 plus or minus. 336 00:17:07,665 --> 00:17:07,935 Mm-hmm. 337 00:17:07,935 --> 00:17:07,936 Hmm. 338 00:17:08,115 --> 00:17:08,355 Why is that? 339 00:17:08,835 --> 00:17:11,685 Well, let's look at, let's look at our top agent. 340 00:17:12,915 --> 00:17:15,405 Plus or minus $2,000 over the last three years. 341 00:17:15,405 --> 00:17:16,275 Why is that? 342 00:17:17,355 --> 00:17:20,355 And you start to look at it and you're like, once financial needs are met, if 343 00:17:20,355 --> 00:17:23,835 there's not a big enough purpose, a big enough vision, your foot is off gas. 344 00:17:24,345 --> 00:17:24,495 Mm-hmm. 345 00:17:24,555 --> 00:17:30,195 And, you know, can you, can you stoke that fire that fire's been 346 00:17:30,195 --> 00:17:33,105 stoked in, in, in those guys, right? 347 00:17:33,195 --> 00:17:36,705 Like, you go back and you look at, and you have the conversation with, with 348 00:17:36,705 --> 00:17:39,435 Stace today of, of who Stace was then. 349 00:17:41,129 --> 00:17:45,780 Completely different human being, big purpose, fire lit. Like he 350 00:17:45,780 --> 00:17:47,879 will, he like get out of his way. 351 00:17:48,090 --> 00:17:48,479 Right. 352 00:17:48,629 --> 00:17:49,949 Because he has a big purpose. 353 00:17:49,949 --> 00:17:54,840 He has a big vision and I think you can, he's proof you can kindle that. 354 00:17:54,840 --> 00:17:57,479 I mean, you're talking about the guy that would never put a damn audible, but 355 00:17:57,479 --> 00:18:02,669 account on his phone to, to just like, just seeing the e change is possible. 356 00:18:03,030 --> 00:18:03,239 Yeah. 357 00:18:03,270 --> 00:18:07,169 But it has to be that big vision to be able to, to push through. 358 00:18:09,435 --> 00:18:11,235 I mean, look at Elon. 359 00:18:11,235 --> 00:18:15,014 I dunno if you guys saw that interview with Elon richest man in 360 00:18:15,014 --> 00:18:19,785 the world and he still is working on average 120 hours a week. 361 00:18:20,504 --> 00:18:20,625 Yeah. 362 00:18:20,625 --> 00:18:22,965 And that means that there's only about seven hours a day 363 00:18:22,965 --> 00:18:25,065 to sleep and do other things. 364 00:18:25,514 --> 00:18:30,405 'cause he is operating all these companies and he doesn't need to, he doesn't even, 365 00:18:30,585 --> 00:18:32,925 he doesn't have to do anything And. 366 00:18:33,345 --> 00:18:39,285 And yet he's still in the pocket in a very obscenely, obsessive big way. 367 00:18:39,675 --> 00:18:46,725 Like ridiculous, seven days a week, a hundred, 120 hours a week, seven days. 368 00:18:47,835 --> 00:18:53,025 I don't think that's healthy, you know, I mean, I, I don't think it is either. 369 00:18:53,025 --> 00:18:54,345 But don't mean firing. 370 00:18:54,555 --> 00:18:58,755 I'll bet on that pony for a minute, but I don't know how much, how much gas is 371 00:18:58,755 --> 00:19:00,915 in the tank before something implodes. 372 00:19:00,945 --> 00:19:01,305 I mean. 373 00:19:01,365 --> 00:19:06,165 I'm, I'm, we are all the biggest Elon fans, so, but he's a human dream. 374 00:19:06,165 --> 00:19:07,185 He might just be an alien. 375 00:19:07,275 --> 00:19:10,370 Well, he might be an alien, an hundred percent alien. 376 00:19:10,545 --> 00:19:12,165 What if Elon isn't human? 377 00:19:12,225 --> 00:19:12,675 And he's like, lot. 378 00:19:14,145 --> 00:19:16,125 That would make a lot of sense, know. 379 00:19:16,125 --> 00:19:19,935 'cause I don't know if you saw Verns, uh, you know, every, every year, right? 380 00:19:19,965 --> 00:19:22,275 He always, in his newsletter, he always talks out the top five, 381 00:19:22,335 --> 00:19:23,865 top five book recommendations. 382 00:19:24,645 --> 00:19:28,275 Um, going into the new year, usually recaps, what were the top books in 24. 383 00:19:28,275 --> 00:19:30,765 So it's kind of what he talks about heading into 25. 384 00:19:31,695 --> 00:19:32,745 Three years in a row. 385 00:19:33,135 --> 00:19:34,065 You know what's on that list? 386 00:19:34,065 --> 00:19:36,675 There's only one book that he's ever put on multiple lists. 387 00:19:36,675 --> 00:19:37,965 He's put it on there three times. 388 00:19:39,165 --> 00:19:39,615 Elon. 389 00:19:40,905 --> 00:19:47,685 It's the, um, autobiography that, um, uh, the one that came out 390 00:19:47,685 --> 00:19:51,705 about three years ago, Elon, were they the person followed him? 391 00:19:51,705 --> 00:19:52,275 The big one. 392 00:19:52,575 --> 00:19:53,505 The big one, right? 393 00:19:53,625 --> 00:19:53,985 Yeah. 394 00:19:54,045 --> 00:19:56,625 And he said, he said, uh, read it again. 395 00:19:57,075 --> 00:19:59,355 And he said, read it again and read it again. 396 00:20:00,105 --> 00:20:00,825 He said, like. 397 00:20:01,649 --> 00:20:05,639 Um, Verne Hornish, he's like, he goes, uh, he's like, through his 398 00:20:05,639 --> 00:20:11,129 fourth or fifth time reading it, he goes, I'm still pulling out things. 399 00:20:11,490 --> 00:20:14,040 And I think that's like with any, anything great, right? 400 00:20:14,250 --> 00:20:16,110 We talk about this all the time with great books, right? 401 00:20:16,110 --> 00:20:18,960 You're gonna, you're gonna receive basically where you're at and you're 402 00:20:18,960 --> 00:20:20,280 gonna get out of it what you need. 403 00:20:20,639 --> 00:20:23,550 And that's why, you know, great, great reference manuals, great books are 404 00:20:23,550 --> 00:20:26,310 always really important to revisit. 405 00:20:27,345 --> 00:20:29,715 Well, I mean, it's, it's the, the, the PAC's gonna move 406 00:20:29,715 --> 00:20:30,825 at the pace of the leader. 407 00:20:31,275 --> 00:20:34,545 And I think that's why we've, we've felt the shot of adrenaline in this 408 00:20:34,545 --> 00:20:36,885 company since Leo is, was named CEO. 409 00:20:37,725 --> 00:20:39,645 And can you believe it's coming up on a year? 410 00:20:40,005 --> 00:20:40,305 Wow. 411 00:20:40,365 --> 00:20:42,945 You know, I think, was it April or May? 412 00:20:43,635 --> 00:20:48,435 It'll be a year with this man leading and dang, I don't, 413 00:20:48,675 --> 00:20:49,785 I don't know how he does it. 414 00:20:50,265 --> 00:20:51,645 I don't know how he fits it all in. 415 00:20:51,645 --> 00:20:53,865 And he still is disciplined enough. 416 00:20:53,865 --> 00:20:56,205 He has family nights and spends time with his kids and. 417 00:20:56,220 --> 00:21:01,500 And then he goes skin diving and like spearfishing in Miami and he 418 00:21:01,500 --> 00:21:06,630 make, he, he, he still is doing an amazing, remarkable job actually. 419 00:21:06,630 --> 00:21:09,030 So, but great chat guys. 420 00:21:09,090 --> 00:21:12,450 Um, love, love chopping it up with you guys about this. 421 00:21:12,450 --> 00:21:16,590 Let's talk a little bit about our friends in California that are, um, suffering 422 00:21:16,590 --> 00:21:19,680 some, some serious, um, devastation. 423 00:21:20,460 --> 00:21:22,290 Their lives are never gonna be the same again. 424 00:21:23,100 --> 00:21:24,570 Um, and it's not. 425 00:21:25,334 --> 00:21:29,354 It's, it's, there's, there this fire discriminated against no one. 426 00:21:30,074 --> 00:21:33,014 Um, all classes have been affected. 427 00:21:33,794 --> 00:21:39,195 And, um, you know, as it relates to our real estate business, California's already 428 00:21:39,195 --> 00:21:45,945 had issues with, you know, before any fire would affect a neighborhood or a home. 429 00:21:46,185 --> 00:21:50,324 Their, their process to get anything done from new construction to 430 00:21:50,324 --> 00:21:52,155 putting up a fence in the backyard. 431 00:21:52,845 --> 00:21:56,024 There is a backlog just to get a building permit. 432 00:21:56,715 --> 00:21:59,715 So, and that's just a fact up and down the coast. 433 00:22:00,585 --> 00:22:05,235 So, you know, now we have over 9,000 structures completely 434 00:22:05,235 --> 00:22:08,085 destroyed, families displaced. 435 00:22:08,625 --> 00:22:10,305 Um, they have to live somewhere. 436 00:22:10,514 --> 00:22:15,915 So I actually got a message from an exp agent on the East coast that her sister 437 00:22:15,915 --> 00:22:20,565 lost her home in the Palisades and they were looking for, for something to rent. 438 00:22:20,909 --> 00:22:23,280 So when you have now all of a sudden all these people have 439 00:22:23,280 --> 00:22:24,629 to, they gotta live somewhere. 440 00:22:25,409 --> 00:22:25,500 Yeah. 441 00:22:25,500 --> 00:22:28,379 Some of 'em are gonna maybe move in with mom and dad or their 442 00:22:28,379 --> 00:22:31,710 kids or a relative temporarily. 443 00:22:31,980 --> 00:22:36,149 It's not a permanent solution and it's gonna take forever to rebuild. 444 00:22:36,389 --> 00:22:39,179 Now we have, rents are gonna start to climb because of it, and 445 00:22:39,179 --> 00:22:42,689 it's already obscenely expensive to live over there already. 446 00:22:43,725 --> 00:22:47,445 What are y'all's thoughts on, on where this recovery can go from here? 447 00:22:49,485 --> 00:22:51,165 I mean, it looks like hell on earth over there. 448 00:22:51,195 --> 00:22:53,595 Um, it's, I'm crazy. 449 00:22:53,685 --> 00:22:57,405 Um, yeah, I mean, it's gonna take time. 450 00:22:57,585 --> 00:23:00,765 I mean, you know, hope, hopefully, you know, they're just not good at change 451 00:23:00,765 --> 00:23:04,845 over there, so, you know, you know, unless you know the federal government steps in 452 00:23:04,845 --> 00:23:09,345 which Trump probably will to do something, you know, California just seems like 453 00:23:09,345 --> 00:23:11,025 they're just gonna continue to mess it up. 454 00:23:11,565 --> 00:23:11,865 Um. 455 00:23:12,314 --> 00:23:13,245 And make it difficult. 456 00:23:15,254 --> 00:23:17,415 Yeah, yeah, yeah. 457 00:23:17,415 --> 00:23:23,175 They, they interviewed Josh Altman and he said that, um, you know, 458 00:23:23,264 --> 00:23:24,705 it's worse than you can imagine. 459 00:23:24,705 --> 00:23:25,365 Like, whatever. 460 00:23:25,365 --> 00:23:27,945 You can think how bad it is. 461 00:23:28,304 --> 00:23:30,945 It's way beyond that, and I believe him. 462 00:23:31,215 --> 00:23:31,504 Yeah. 463 00:23:31,504 --> 00:23:33,120 And it's, um, it's very sad. 464 00:23:33,120 --> 00:23:36,210 It's one of these things like, we feel handcuffed because we, you know, the, 465 00:23:36,210 --> 00:23:41,040 the thing that I love a lot, we, we, we might be found like criticizing 466 00:23:41,040 --> 00:23:45,090 real estate agents, you know, a lot and they're, you know, large percentage 467 00:23:45,090 --> 00:23:46,170 aren't coachable and this and that. 468 00:23:46,350 --> 00:23:49,350 But you know, the one thing that I love about being part of the real 469 00:23:49,350 --> 00:23:54,750 estate community is they're the most giving people shirt off your back. 470 00:23:55,290 --> 00:23:59,040 Uh, that I will say the majority are, and I don't know why that is. 471 00:23:59,040 --> 00:24:00,150 It's, it's kind of interesting. 472 00:24:00,150 --> 00:24:00,570 I don't. 473 00:24:01,110 --> 00:24:05,220 Um, really identify other large conglomerate professionals 474 00:24:05,220 --> 00:24:06,930 like for instance, attorneys. 475 00:24:07,440 --> 00:24:08,490 Nothing against attorneys. 476 00:24:08,490 --> 00:24:10,650 A lot of my close friends are attorneys. 477 00:24:11,130 --> 00:24:13,950 I just don't see that as a personality trait. 478 00:24:14,070 --> 00:24:19,440 Transferring over to other, you know, another large, um, trade group. 479 00:24:20,190 --> 00:24:22,560 But we are so I know that. 480 00:24:23,129 --> 00:24:27,840 Obviously our company is, is, is already doing, you know, big things to raise money 481 00:24:27,840 --> 00:24:29,699 and, and help people that are in need. 482 00:24:29,699 --> 00:24:32,429 But really the, I'm that's, that's the short term. 483 00:24:32,429 --> 00:24:35,760 I mean, we know that Biden, uh, was generous enough that, 484 00:24:35,970 --> 00:24:40,470 you know, he authorized $720 per person that got displaced. 485 00:24:42,675 --> 00:24:45,689 I ain't gonna comment further on that, but again, you know, it's a 486 00:24:45,689 --> 00:24:49,500 short term fix to a long-term problem. 487 00:24:49,500 --> 00:24:52,260 Long-term, it's gonna take forever to build Malibu back. 488 00:24:52,815 --> 00:24:56,535 It's gonna take years, you know, and we got the Olympics, I think 489 00:24:56,535 --> 00:24:57,885 are supposed to come to LA Right. 490 00:24:57,885 --> 00:24:58,455 In four years. 491 00:24:58,455 --> 00:24:59,055 Is that true? 492 00:25:00,165 --> 00:25:00,255 Mm-hmm. 493 00:25:00,615 --> 00:25:01,545 That's in the Yep. 494 00:25:01,785 --> 00:25:06,165 Coming up I think to, to your whole point out. 495 00:25:06,165 --> 00:25:06,525 Right. 496 00:25:06,525 --> 00:25:11,625 I, um, you know, you think about even, even things over the last, you know, 497 00:25:11,625 --> 00:25:15,795 the, the, the country over the last, just over the last six months, right. 498 00:25:15,855 --> 00:25:18,615 Got the Carolinas, you got Tampa, you got, you know, all 499 00:25:18,615 --> 00:25:21,195 the areas that have been hit and. 500 00:25:22,004 --> 00:25:28,605 I have more faith that things will move in a better direction in about a week 501 00:25:29,774 --> 00:25:32,595 than I would if that wasn't the case. 502 00:25:33,284 --> 00:25:41,564 And so, um, yeah, it, um, it is, it's man, it's, it's just sick to watch it. 503 00:25:42,524 --> 00:25:42,975 Yeah. 504 00:25:43,905 --> 00:25:44,294 Yeah. 505 00:25:44,745 --> 00:25:49,335 A little from this article from Iman, um, what people are hearing is okay. 506 00:25:49,695 --> 00:25:50,385 The reality is. 507 00:25:52,034 --> 00:25:55,514 Is that what's fresh right now is people quite literally figuring out 508 00:25:55,514 --> 00:25:59,145 where they're going to live for the next 90 days, let alone the next 509 00:25:59,145 --> 00:26:00,975 12 months, three years, five years. 510 00:26:01,274 --> 00:26:04,094 Their focus is where am I gonna put my family? 511 00:26:04,455 --> 00:26:04,544 Mm-hmm. 512 00:26:04,784 --> 00:26:05,955 Where are they going to live? 513 00:26:05,955 --> 00:26:11,685 How am I gonna put a roof over their head and you know, what am I then? 514 00:26:11,685 --> 00:26:13,334 Then it's long term. 515 00:26:14,235 --> 00:26:17,865 And I got, you know, I have to, I have to say that there's already 516 00:26:17,865 --> 00:26:21,645 this surge of people moving from California to Texas, Florida. 517 00:26:22,005 --> 00:26:23,835 I think that this is gonna increase it. 518 00:26:24,645 --> 00:26:27,375 It's gonna increase the surge people are gonna get, get out of there. 519 00:26:28,125 --> 00:26:28,245 Mm-hmm. 520 00:26:28,965 --> 00:26:32,205 And the other part of this is that insurance companies have been running from 521 00:26:32,205 --> 00:26:34,545 California for the last 12 to 18 months. 522 00:26:34,995 --> 00:26:38,955 I mean, they're running from a lot of places, even Florida as well. 523 00:26:39,284 --> 00:26:40,334 But they're just not insur. 524 00:26:40,544 --> 00:26:43,485 They're not gonna be insuring, like State Farm, I think pull 525 00:26:43,514 --> 00:26:45,495 pulled over 90,000 policies. 526 00:26:45,495 --> 00:26:46,604 They're not renewing them. 527 00:26:46,965 --> 00:26:49,905 So these people that have State Farm, which is probably the one most 528 00:26:50,054 --> 00:26:53,834 like conservative, you have to have really good credit to get State Farm. 529 00:26:53,834 --> 00:26:54,435 You know what I mean? 530 00:26:54,435 --> 00:26:56,774 Like it's not like a Geico or anything like this. 531 00:26:57,225 --> 00:27:01,604 Like they're pulling out, they're like, we're out guys. 532 00:27:01,635 --> 00:27:04,544 We can't do it because they're trying to subsidize. 533 00:27:04,544 --> 00:27:05,745 So you have insurance issues. 534 00:27:06,870 --> 00:27:09,660 You know, they, I, there was a statistic, and I don't know the 535 00:27:09,660 --> 00:27:13,050 exact statistic, but there's a high percentage of deals that fall out at 536 00:27:13,050 --> 00:27:18,450 the end sales because of insurance, because they can't get the premium to 537 00:27:18,450 --> 00:27:21,690 a reasonable amount to where they can even afford the payment on the house. 538 00:27:21,690 --> 00:27:24,750 So they just, the deal falls apart because of insurance. 539 00:27:25,440 --> 00:27:27,870 This is just gonna skyrocket those premiums. 540 00:27:27,870 --> 00:27:30,390 This ain't gonna send 'em in the, in the south southern direction. 541 00:27:30,900 --> 00:27:34,770 They're going north, which is gonna force more people out. 542 00:27:35,429 --> 00:27:39,389 It's not a good situation, but I think, you know, one, one 543 00:27:39,389 --> 00:27:45,929 solution for some families, maybe not all, Hey, come to Texas. 544 00:27:46,169 --> 00:27:48,480 Come to Florida, Ohio. 545 00:27:48,689 --> 00:27:53,850 Come, come to some of these other areas where, you know, there maybe, I don't 546 00:27:53,850 --> 00:27:57,960 know, Florida is gonna have a housing shortage as well, if not already. 547 00:27:58,500 --> 00:27:59,939 Um, I don't know about Texas. 548 00:27:59,939 --> 00:28:01,860 You guys, your, your prices aren't going. 549 00:28:03,120 --> 00:28:04,140 Lowering either. 550 00:28:04,320 --> 00:28:07,800 Uh, yeah, I talked to Chris Waters, uh, earlier this week. 551 00:28:07,800 --> 00:28:11,190 He said, Austin's inventory's up tremendously. 552 00:28:11,340 --> 00:28:13,710 Um, values are, you know, prices are coming down. 553 00:28:13,710 --> 00:28:14,340 It's rough. 554 00:28:14,340 --> 00:28:18,810 And, and Austin right now, uh, and Dallas, it's, it's, it's a little 555 00:28:18,810 --> 00:28:22,980 bit slower, but we're not seeing the, the price, the price, uh, drops and 556 00:28:23,070 --> 00:28:24,330 or any, any of that kind of stuff. 557 00:28:24,330 --> 00:28:26,820 So it seems like they just are a, a one-off situation 558 00:28:26,820 --> 00:28:28,800 where they overbuilt for. 559 00:28:29,445 --> 00:28:31,695 You know what jobs, and you know what, what, there, there was 560 00:28:31,695 --> 00:28:32,445 a ton of people moving there. 561 00:28:32,445 --> 00:28:34,845 I know they overbuilt in terms of apartments, but it's really 562 00:28:34,845 --> 00:28:39,015 interesting to see that their market is, is, is suffering so much and, 563 00:28:39,015 --> 00:28:41,595 and that DFWs not, but, but yeah. 564 00:28:41,595 --> 00:28:43,546 So to be determined, yeah. 565 00:28:44,325 --> 00:28:44,625 Yeah. 566 00:28:45,135 --> 00:28:47,835 I think that is kind of the feedback I've got outta Florida as well. 567 00:28:47,835 --> 00:28:53,775 I mean, inventories are creeping up and prices are not, not backing up a little 568 00:28:53,775 --> 00:28:55,305 bit, but they're not, they're not jumping. 569 00:28:55,305 --> 00:28:58,395 So, um, it'll be interesting to see kind of how. 570 00:28:59,970 --> 00:29:03,450 Things play out over the next sixty, ninety, a hundred twenty days. 571 00:29:05,460 --> 00:29:06,120 Awesome guys. 572 00:29:07,320 --> 00:29:09,870 Well, hey, good, good talks. 573 00:29:09,930 --> 00:29:14,850 Um, our prayers are with the people in, um, in California and, um, 574 00:29:14,910 --> 00:29:20,790 obviously, uh, we, we, we want them to, um, to recover as soon as possible. 575 00:29:21,120 --> 00:29:24,360 Uh, and this all to, to, to start on the recovery path because right 576 00:29:24,360 --> 00:29:25,260 now they're still fighting it. 577 00:29:25,500 --> 00:29:26,220 They're still losing. 578 00:29:26,790 --> 00:29:27,690 Losing homes every day. 579 00:29:27,690 --> 00:29:30,930 So prayers to to, to California and LA area. 580 00:29:31,320 --> 00:29:34,080 Um, that's about it guys. 581 00:29:34,260 --> 00:29:37,110 Uh, other than that, let's keep cranking. 582 00:29:37,830 --> 00:29:39,540 The future is looking bright. 583 00:29:40,140 --> 00:29:45,360 Um, yes, sir. And I think, um, um, just from a, from an exp standpoint, they're 584 00:29:45,360 --> 00:29:47,550 at back at Nasdaq, um, next week. 585 00:29:47,985 --> 00:29:54,105 On the 21st right after, uh, um, you know, Monday and Monday's a big day. 586 00:29:54,105 --> 00:29:57,945 And, and, and also, uh, Tuesday's gonna be a big day with exp at Nasdaq. 587 00:29:58,005 --> 00:29:58,125 Yep. 588 00:29:58,515 --> 00:29:59,265 Two, two days. 589 00:29:59,265 --> 00:30:01,485 Oh, H oh h io. 590 00:30:01,485 --> 00:30:03,585 Oh, Texas. 591 00:30:03,585 --> 00:30:04,455 Let's go. 592 00:30:07,395 --> 00:30:08,025 Alright guys. 593 00:30:08,025 --> 00:30:08,535 Appreciate you. 594 00:30:08,865 --> 00:30:09,195 Awesome. 595 00:30:10,365 --> 00:30:13,125 S That's a wrap for today. 596 00:30:13,695 --> 00:30:15,555 I hope you got something valuable from this episode. 597 00:30:15,795 --> 00:30:18,765 If you did, hit follow and visit John kitchens.coach for 598 00:30:18,765 --> 00:30:20,355 more ways we can work together. 599 00:30:20,955 --> 00:30:21,915 See you on the next episode.