Real Estate Agent Podcast 39: Jim Remley
Confidence is born from competence. Competence comes from education and skill building.
About This Episode
Jim got his license at 19 years old. Today he's a speaker, coach, and is ranked in the top 1% of REALTORS® nationwide. In this episode, he walks through how he got into the industry, how anyone can grow their business quickly, and the things that every new real estate agent should be doing. Learn more about Jim at erealestatecoach2.com.
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JON: Hello and welcome to Shop Talk: The Real Estate Show. I'm Jon Forisha and on this episode I talk with Jim Remley. Jim is a Real Trends 500 broker, speaker, author and consultant. He's been in real estate since the age of 19 and is ranked in the top 1% of realtors nationwide. So Jim, thanks for joining me.
JIM: Hey, I'm super excited to be here. Thank you so much for the invitation.
JON: Yeah, absolutely. How'd you get into real estate, Jim?
JIM: So a quick story. I was an in college at the time is 19 years old. I was working at full time at a lumber mill. I was working graveyard and going to college during the day. My buddy says, I got, I got a better solution for both of us and I said, what is it? He said, we should get in real estate. I said, great, let's do it. So I studied a guy, my test, I passed my test. He dropped out of college studies. So on the way back from passing the real estate exam, I pulled off the side of the road, was the first real estate office I came by, which was, it happened to be a seat 21 office. I walked in the door and I said, that you guys hiring? And they said, you're in luck. We are hiring. I said, fantastic. I went back to the mill. I quit my job. I went to the administrator's office and the college, I said, I'm dropping out. I wanted a real estate. They tried to talk me out of there. I'm like, Nope, that's what I'm doing. Uh, so that's, that's how I got into the business. Um, but I always tell agents that, you know, my first six months was very tough. I didn't have immediate success. So it wasn't like I just jumped in and was like, this whole store. I struggle. And so the secret to my success was though I became a sponge of information. I asked tons of questions. I read a tons and tons of books. I listened to. We didn't have podcasts back then, but I did go to seminars. I went to webinars, not webinars, seminars, and I listened to tapes back then they were on tape. And I talked to a lot of top producers. So I went to lunch, coffee, dinner, drinks with top producers, and I was just like always asking questions. After that first six months, things started to turn for me within 12 months of, uh, that I took 150 listings and I got listed in the top 1% of agents nationwide. And then about four years later, I was 23, 24 at the time I opened my first company, I roasted, they call me, me and another guy wasn't like great Exodus might called me. I can I talk one other guy to go on with me. And, uh, we opened a company and then, uh, we grew that over 15 years to 17 offices. We're the largest independent company in Oregon at one time. Sold it, no, six. And then I, uh, took a couple of years, I taught for national association realtors. I still speak today. Uh, but then I got talked into running another company down in Southern Oregon. So down in Medford, Ashland market. Now we're on track to do $1 billion in sales this year, uh, with about 160 brokers. So things are good.
JON: Sounds like it. Wow. Yeah. So you are actually not the first person I've interviewed who was going to get into real estate with somebody else and then they dropped out. Interesting. That that's a path into it. So how long were you at C21 once you joined them?
JIM: So I was with C21 for five years. I was what's called a Centurion back then. They probably still have Centurions. I just didn't, I did a podcast with another C21 agent recently and we were talking about, now they've upgraded. They used to have a yellow coat that was more kind of mustard yellow. And we were talking about the mustard yellow coat. I told those guys, you know, Hey, listen, man, I was so proud of that coat when I finally was able to afford to buy it. I remember the day it came in the mail and I opened that thing. And I put it on and I never took it off. I wore that thing all the time. So when people talk about logo clothing today for new agents that are watching where logo clothing man, where are the logos? Wear your name badge because it's a conversation starter. It's a conversation opener. And I would get so many people talking to me about real estate because of that yellow coat. And I love it.
JON: You'd be easy to find for sure.
JIM: Easy to find. Years later, it was kind of a funny story. I did a lot of farming, geo farming. So I would knock on doors and I would, you know, just let us campaigns. Years later when an agent came to work for me, Tammy Moore, and if she's watching, hey Tammy. She said that she used to see me walking in her neighborhood and she would hide behind the door, you know, because it was me. And I asked how she knew. She says that you were wearing a yellow coat. How could you miss it?
JON: Could see it from a mile away. Did you feel at a disadvantage when you first got started? Being so young?
JIM: You know, that's an interesting question. Yes, I did. Back then I kind of had a baby face, not today, but back then I'd look really young, full head of hair, you know, super good looking guy back then and uh, and no glasses. Um, but what I did and some people say, how would you be able to make a hundred clients when you're 20 years old? I mean, how does that happen? Right? Because, um, that seems like people wouldn't trust you or there'd be like a lack of confidence in you. And my approach with sellers would be to just be really authentic and really honest with them in my conversation. So I would say, listen, obviously I'm a new agent, I just put it out on the table. I'm a new agent. Yeah. I just got into business about 12 months ago or six months ago. Let me tell you why you should use me as opposed to anyone else you're interviewing. And I shared that with you, why I think you should use me. And they say, yeah, they want to hear it right. They want to know and I stay. I'll tell you why because I'm first of all, I'm young, I'm a Hungary, I'm enthusiastic. I will work 24 seven for you. I will answer every call you make to me. I am a sponge of information and I will not stop until I get your property sold. A lot of experienced agents that might have 2030 40 other listings are working on are not going to give you the same level of, you know, 100% focused on I am here and I'm going to work super, super hard for you. You give me a, I promise I won't let you down every single time I would have that conversation. People would listen with me and the reason they listen with you is because you've been super transparent and you've been super authentic. You're not trying to be someone that you're not.
JON: Yeah. You're not trying to pretend that you have experienced or pretend something or give them some kind of weird objection handler.
JIM: You're just being really authentic and then, well, what happened is they kind of adopt you and they're like, I want this kid to succeed because I want you to win. I want this realtor. I want to be a part of your success. And what happens is if you deliver on your promise and you're like you deliver that exceptional service, they become such a cheerleader and such a raving fan. They look at you like as their son or their daughter or their grandson or their granddaughter, and they talk about you to everyone because you've done such a great job and they actually root for you as an agent. So actually being young, a young person who's business can be a super advantage. I think I would rather be young than experience, honestly. Because people root for you.
JON: Well, it sounds like you used it to your advantage. I mean, you just said, you know, I'm hungry, I'm young, I'm going to do what it takes.
JIM: That's right. I always tell agents there's a weakness in every strength and a strength in every weakness, you know. And the way you look at that is you say, you know, my weaknesses, I'm inexperienced, my weaknesses, I'm young, but what's the strength in that? The strength is you're hungry, you're aggressive, you're going to get the things done. So look for the weak of the strength and every weakness.
JON: Yeah, that's great advice. Yeah. So you mentioned that you're close to closing $1 billion in sales. How have you done that? What's your secret secrets?
JIM: Well, my company, we're fortunate to be in one of the, we'll call it a real transplant top I on company. What that means is that we're one of these top 500 companies in America and we're in a small town. I mean, we're in Medford, Oregon, population based on 80,000 and so what that means is we're competing with companies in LA and New York and Boston and Chicago, but we're still in that group of a top 500 company. So our average agent production is about $6 to $7 million per agent. And people ask me all the time, how do you help agents get to that level of production? We have agents doing 60 million, we have agents doing 100 million, we have agents doing less. But the overall is that not the right and the way that we do it is we do a really good goal setting. Number one, you've got to have goals. You can't hit a target, you don't have, but that's where most agents stop. And so well, the brand new agent, there'll be told you gotta set goals. So they'll say, yeah, okay, here's my goal. I want to be 5 million or 3 million my first year. That's not where it stops. Where it stops is you got to go beyond that and get super granular. And what I mean by granular is I'm going to take it to the month, I'm going to take it to the week, I'm going to take it to the day. So on a daily basis, I have to know specifically what I need to do every day they hit that big number. So with my agents, they know on a daily basis how many calls they got to make, how many appointments they got to set. They are super granular. That level. That's how you unlock true success is to you take two agents, two brand new agents that I know a lot of your listeners are going to be relatively new is uh, and I'll, I'll give some some names here. Joseph is one new agent and Luke is another new agent. Same education, same background, roughly same training. There's going to be a divergence point. One is going to rise and one that's going to be four legs up in the parking lot. You know, at the end of the year, the person that rises as a person that's got a daily action plan, those are the people that are really going to succeed. And those are real people by the way. Last year I had Joseph working for me, exited the business and I had Luke working for me who does six figures his first year. So it's all in your daily action plan. That's where you can unlock your true success.
JON: Okay. So how do you go about building that daily action plan?
JIM: So that's a good question. So then the people are like, okay, what do I do that's great. And all that. Exactly. What is that action plan? So for new agents, um, I always tell new, I just look at your business like you're a doc, you just got your medical license, and this is the way, it's a great, great analogy for our business. You got your medical license, what do you do next? Most of them are going to go to a work at a hospital as an insurer, right? They're gonna start it as an intern. And then I worked three or four years and I've got to do 80 hours a week, 70, 80 hours a week. They're gonna sleep in the hospital. You're not going to get paid a lot of money. They're going to get paid decent money, but not a tremendous amount of money. But the goal of that, after three or four years, it's almost going to happen, is they're going to graduate owning their own practice. And when they own their own practice, what happens is they become referral based. So, uh, that means that you never see a heart surgeon knocking on doors. Right. So that would be weird.
JON: Yeah, that's, that's a heart surgeon you're not gonna use. I would not trust that guy.
JIM: Brain surgeon on my door. You never see a top account. I'm not talking attorney. No one's talking on doors or any kind of cold calling, that kind of thing. That is only done for agents. That what I'm training them as I, my goal is to first two to three years, so you're going to do everything. You're going to grind. I'm going to teach you how to do FSBOs and expireds. I'm going to teach you how to do open houses. I'm going to teach you how to do business, the business, I'm builders and investors. I'm going to give you all these different training tools within my coaching platform to really get to a place where you graduate to being 80 to 90% referral based. That's where I want you. But if five years after you entered the business or 10 years after you ended the business, you're still having to call FSBOs and you're still having a door knock. You've, there's a problem. There's a disconnect there. So, and the first two to three years, what that daily action plan and is going to be. It's going to be very specific in a targeting specific, what I call prospecting pillars. And for every agent it's going to be a little different. So for you, maybe it would be, I'm going to have you calling five. There's those of the day it might be, and I'm going to have to call five expired listings today. It might mean that I'm going to have you do circle marketing. It might mean that I'm going to have you do business to business prospecting or investor prospecting. It's going to be unique to every agent cause every agent's different. Or we're going to give you specific prospecting pillars, but I can boil it down to a really simple metric that everybody watching this can can apply in your business and will be the secret to unlocking true success. And I call it the 4-1-1-1-1, and if you apply this every day, you'll unlock your success. So the four one, one, one one is you're going to come at one hour every single day of uninterrupted prospecting. That means doors closed. No one's interrupting you. You're prospecting in some form or fashion, you know, one of those, those, those prospecting pillars I said, so one on one hour uninterrupted. The goal of that hour is to set one appointment a day. I'm going to set one appointment a day with someone, uh, where I can see they're going to be with a buyer, with a seller, with somebody in my sphere of influence. But I'm setting up an appointment a day and I'm going on one appointment a day. So I set one a day before, but I'm going on one every single day. And the last one is I'm going to add one person a day in my sphere of influence. Um, this is the sphere of influence. One is actually the most important of all. And let me say what, because I just had a coaching call with a student right before this podcast and we were talking about her, uh, her production and she had closed about, I think it was 24 transactions in 2019, which is great by the way, only 4% of agents closed more than 24 transactions a year. Shockingly. Um, most are closing one to two transactions a year, which is terrible. So I said, okay, you close 24 transactions, how big is your database? So her database of people that know, like, and trust her is about 200. And so this statistics and then in the industry is that for every 10 people in your database, you'll average one closed sale. So that's assuming you're having contact with them nine to 12 times a year in some form or fashion. Right. So that's what we call our sphere room plus in the industry. So actually are 24 transactions coming out of it. 200% database is about right. It's about what you'd expect normally expect 20. It's actually outperforming a little bit. Yeah. So only path for her to grow her business. The engine under the hood of her business is to grow the size of her engine, which means she has to have three or 400 people in our database at the end of 2020 to get to 30 or 40 transactions. Yeah, but here's the beauty of it. For a brand new agent, you have a new agent that starting cold. Let's just say in your audience right now, move to a new city. They've never met a single soul in the city. They've been dropped from somewhere else. They land in the city, they know no one. Over the next 12 months, they can have 22 transactions as they follow this 22 transactions. Your first, she'll be almost in the top 4% of agents nationwide. If you simply add one person a day to your servant's lots, and here's why, because there's 220 working days in a year, 220 working days, adding one a day. That means I'll have 220 people in my database by the end of the year and by the averages and one ratio for every 10 people in my database to elaborate to one close sale as long as, as long as I'm talking to them nine full times out of the year. Yeah, that's a simple metric for everyone that can apply. Just adding one person a day. Super, super.
JON: After the break, Jim talks about what a new agent should be spending their time on. Are you fed up with your dry real estate classroom? You thought that learning in person would be the best way to complete your continuing education, but the teacher is so boring and the textbooks are heavy and the traffic seems to be bad all times of day in every direction. Dear listener, I'm here to tell you there's another way to see. The CE Shop has what you need available online where you can learn from the comfort of your own home. Ditch the traffic and save 25 percent at TheCEShop.com with promo code SHOPTALK.
JON: So how do you add one person to your sphere of influence? Because typically, you know, sphere of influence would be like close friends, family members, people who have known you a long time.
JIM: So great question here. Here's the statistic that blows people away. The average American has 27 conversations today. Just the average American. Now as a salesperson, we shove a lot more than that, right? Yeah. But uh, let's assume you only having 27 conversations and it's just the bat, just the average, uh, within, you know, four or five of those conversations I should be able to insert in the conversation. Uh, so if I'm talking to USA, Jonathan, man, can I add you to a group of people that I'm sending someone regular real estate information out? It's just going to give you some ideas on what's happening in the market. Some deal. Do you, why ideas? Some cool houses. I see when I'm out touring houses, can I add you to the group? You're going to say, no, forget it. You can't do that. Now you're going to say yes, of course.
JIM: You could have any list once I've gotten your permission to now you're in my database. That's just a simple example. And the other one would be, I love the dreams and search idea. So I'll say Jonathan, uh, I know you're not in the market to buy a house, but tell me I'm in real estate stuff. I'm always curious if he could live anywhere in any house. Tell me what it looks like. Well, let's role play this. You answer the question.
JON: Okay, my dream house? Yep, sure.
JIM: Now stop right there. I'm going to say I'm going to do this. So what happened is you stop and you look up into the left. Uh, and why did you do that? Because you're accessing an aspirational part of your brain. You're thinking, what is my real dream? And you go to a whole different space as a person. And when you, whatever you say, but the next words out of your mouth are going to be what's your aspirational goals are. So I would say, that sounds amazing. That sounds so amazing. So here's what I do for my friends. If you're just, and I think it's super fun cause I'm in real estate. I think it's always fun cause I'll set you up on a dream search. It'll come to you once a month and you'll just see all these houses that meet exactly the criteria you're talking about. I know you're not going to live by it's a day, but at some point, if you're ready to do some real estate business, I'd love you to someone. Can I do that for you? Everybody says yes. Is this fun? It's aspirational. You can see the power of that.
JON: I like that a lot. Yeah. Cause it's activating that side that everyone has of like, how cool of a house could I have if money weren't an issue?
JIM: Right. Yeah. It's really a fun exercise to get conversations started. Right? And you know, when we're in the field, we have to open ourselves up to take a little bit of risk. So a risk just means that we're ha, we're bold within four or five of our 27 conversations that we're having, that we're going to bring this up and we're going to capture somebody's information, right? And it doesn't take a lot. It's really can be just that simple, you know, just having those kind of conversations. Um, and another way to do this is with, uh, business people, entrepreneurs, salespeople, is if you were in another ancillary business, let's say you were a corporate layer, or you are a plumber or you're an electrician, this would be something that, especially as new agents, I can have this conversation. I can say, Hey, I just got a real estate business. Jonathan. I know you're an electrician. I want to just create a little group of people I can send my buyers and sellers to if they need help with, you know, attrition services. When I have a specialize a little group though, I'm referring people to you. Are you looking for more business in 2020 and you're gonna say, yes. Hey, let's get together and let's have coffee. I'll get some of your cards. And then uh, you know, if you hear anybody thinking about this, we'll say business of course I love you know your business as well, but now I've added you to my sphere. I want to, I want to, and that's just one example of many that I could do except build my sphere of influence out. Super easy. Of course there's going to be other opportunities because as a part of my prospecting pillars with FSBOs and open houses, I'm going to be meeting people in all of those people I'm meeting every day are going into my sphere. What happens is when you're, when I train people that are in the business 10 years, every single one of them, every single one says Jim, if I had only met you, you know, day one if I had only been coached by you day one I would have 5,000 people in my sphere. Memoirs in my business would be just over the top. So you all your listeners right now have such a beautiful opportunity to train themselves from day one to really build a business the right way, which is building it based on this goal of building out your but super important. Yeah, absolutely.
JON: Yeah. So, your team right now is 160 ish active brokers?
JON: How do you manage a team that large?
JIM: Well, we have a lot of support. We've got 18 full time staff people that, uh, support the team. Uh, and these are individual agents and we have, we have teams within our office too. So we've got large teams in the office as well. We also have supervising brokers. So I look at it as a per capita basis. Like, um, you know, it's like a student to teacher ratio almost. You know, you can look at it as like how many support people per agent do we need in the office? And that's how I, that's how we manage it. Um, but I will say that what we've done over the years, we went from $100 million 10 years ago to $1 billion today. Uh, so 10 X the volume. Uh, and, and people say, have you grown your staff by 10 times? And the answer is no, we haven't. What we've done is we've gotten a lot more efficient and we've got such great systems now and as, as new agents that are watching this, um, I really encourage you to operate based on systems because what happens with agents is you get really, uh, most agents approach our business and they wing every day. They're kind of grabbing the tiger by the tail. They're kind of a fire man, a fire woman, and they're just putting out fires every day and they really have no idea what they're doing, everything and just come to work and they're like, I'm just going to show up and we're just going to hope and pray something happens. Maybe somebody will lay down in front of me. I want to do business, which never happens. And I always ask agents, this litmus test, I say, tell me you know where your next buyer or seller is going to come from. This is a great question for every agent to ask themselves, do you know where your next buyer so I was going to come from? If they cannot answer that question, if they say no, I really know I have no idea, then that is a red flag that they are market-based agent. They're just hoping the market will deliver someone and when the market goes down, their business goes, now market goes up, their business goes up, right? High tide floats all boats. That's a terrible way to run your business. No strategy is a strategy and that is what most agents strategy is. I'm just hoping for the best agent that has the answer to that. That can say, yes, I know where my next buyer or seller is coming from is a strategy based agent. That means they're granular and they know exactly what their, what their plan of action is every single day. So here's a rule of thumb for your agents is a, which is a metric that we study at our office, which is for every 30 conversations you have as an agent, it doesn't matter if you're new or experienced or every 30 conversations you have, you'll average one closed sale. So let me give you an example of the power that let's say as one of your brand new agents that are graduating and taking your courses. They go to real estate school and they get their test. They go towards their license somewhere and they say, you know what? I want to be in the top 4%. I want to close 20 plus transactions next year. Uh, how do I do that? Just this one metric. We'll get them there. 20 transactions times 30 conversations, right? 20 times 30 well, 600 conversations over the course of a year by saying, Jim, Oh my gosh, it's not our conversations. That's a mind blowing amount. I can never do that. You can. So here's how you do it. You take 600 in divided by 200 2,220 is our number of working days in the year. That is about what, three conversations a day that you're having to get to 20 close transactions. And when I say that people like that's not true. It is absolutely true. The difference between aides and suit gets the end result or the ones that have consistency and systems that actually do the work and measure their performance. And that's where, that's where you unlock it, right? If you're not actually doing the consistent work, that's where you're going to have a problem. Yeah. So, and another way to look at this, I use the Seinfeld analogy. So, uh, I'm a, I'm a huge fan of anybody that can get up and do something like comedy or play at a high level. You know, athletics I think is a very interesting, so I'm always watching these guys, but when, uh, what Seinfeld said about his success is that he set a goal for himself to write a joke every single day. That was his mission in life. I'm gonna write a joke every day whether I want to or not, whether I'm sick or not, whether I'm busy, not I'm going to spend, you know, time. I'm going to write a joke every day. And what he did was he would create streaks and so he'd have a calendar above his desk and every day that he did it, he would put a red X on that calendar. Said, I did it. I wrote a joke, wrote a joke. I wrote a joke every day. And what his goal was is to not have a break in the chain, no breaks in the chain. So the longer you go without a break in a chain, the longer the street and the longer the street, the more likely he would be to create success and create some real winners in that. And those, those jokes he's writing. Same thing is true of us. When we establish our daily pattern and our daily strategy, we can do the same thing. You've got to recount or above your desk and put a red X. When you've done the work, you've called your five people. You called your physical, you called your expire and you added one person to disturbance. Once you've done the work, you cross it out, just say, let's go see how long the streak I can get you a, that is how you unlock massive success. I've taken a lot of agents from zero to six figures in their first year. That's always how they get there is through the consistency of work.
JON: I like that. Turning it into a numbers game because I mean it's the Malcolm Gladwell 10,000 hours philosophy. It's sort of a similar concept, but right. What would you say to somebody getting too analytical about their success or lack of success early on? I mean, at what point should you just head down and do it?
JIM: Here's, and that's a great question. So what happens with a lot of the agents that they cut, they get caught up on outcome thought. In other words, their outcome thought is like, I got to close two transactions, I gotta close one transaction. Yeah, you have to let go of that. And you have to focus on the work. Work will produce an outcome. So you know, making your calls, doing, you're building a sphere of influence, doing the work, having conversations every day will produce an outcome. So when I'm my coaching platform is called the path. And what I tell agents is when you're on the path, you have to trust me as your coach. I've coached thousands of agents, thousands and thousands of agents and you don't have to worry about outcome. I'm worrying about that for you. I've already figured this out. This system works. It's not like a question mark. There's no like if in the equation here, if you do this, you'll get that. So let go of that. Stop thinking about it. Cause when you're focused on that you, you often stopped doing the work. And I think that is really, really the importance of it is every single day just being consistent with it. But people often say to me, okay Jim, all sounds great, but give me granular, tactical advice. Like give me something I can do today right now. So I can give you a couple of ideas that agents can actually apply in their Mark. I'll give you how about for sale by owners. We'll give you a tactical technique with for sale by owners a maybe a lot of agents aren't using. So what happens with a lot of agents, especially new agents, is they get very buyer side focused. So buyer side focus means you just naturally gravitate towards buyers rather than less things. So I use a system called narrow, uh, with special, with new agents, narrow casting, super effective. So every new agent is going to show property, your everybody shows property. It just happens. You're going to show houses, right? So what I say to new agents and experienced agents is they'll say, let's apply narrow casting. Here's when you're a casting means you go out and show a house today, you circle back after you're done showing the house in a neighborhood and you knock on five to 10 doors on either side of that house. And you simply say this, you say, Hey, I just showed your neighbor's house this morning and my buyers love the neighborhood. But they didn't quite love the house. Um, but they asked me to come back and just talk to some of the neighbors and I just have a crazy question for you. Would you guys consider selling this house for the right price? Would you ever consider selling the house if the right price, if the price is issue that alone? Because what's what you're doing is something completely different than geo farming or circle farming. You're doing something that's highly specific. There's a sense of urgency because you have a real buyer that you just showed this house to. And if they call you on it and, and to go and talk to the neighbor, then they will say, yeah, he didn't come by my house. Here's a car he was here. Right? So it's real, it's authentic, it's timely, and it unlocks a lot of conversations. So that if you think about an agent that is showing just four houses a week, like you just showed them, and it could be all on the same day, you know, you show four houses. Usually when you show the buyer maybe eight houses, you think about that four houses a week, it's 40 houses you could be talking to on either side. It's 40 opportunities right there to have real, authentic conversation. That alone, if you just did that as a new agent for the first year, you will spar, suppress all your competitors in your market. I guarantee just that alone. But let's assume that you go, Jim, I want more. I gotta have more. That's not enough. I get it. I'm going to give you a thousand ideas. That's one. Uh, here's another idea. You'd do the same thing with the people. You come back, you circle back into that neighborhood of that home, you show it. But this time I searched for, for sale by owners in that market, in that neighborhood, and I call up her. So my owner and I say, listen, I just showed your neighbor's house over. I want you to three Johnson and you're two blocks away. My buyers loved the neighborhood. They didn't love the house. So I did some deep research. I see you have your house on the market. Um, first of all I want to tell you is I'm not calling list the house and I respect her decision to sell on your own. That'll take their defenses down and be like, Oh, okay, I can talk to you. It's okay. I'm in a safe place. And you say, but a quick question, are you allowing the realtors to show the house? Can I come by and show them if my buyer wouldn't be willing to come back and circle? See it? They say yes.
JIM: The most powerful interaction you can have with a for sale by owner is showing their house. If I leave was showing the house, it's going to completely unlock the relationship. So now hopefully I bring my buyer back. I show the house, even if it's not right now, I started a relationship and I'll say, you know, the house, your house was great, but it wasn't quite right. Let me ask you a question. Have you ever considered working with a realtor? Uh, and you know, if, how long are you going to go before you decide to work with a realtor? You can just start the conversation. We've got actually an eight, um, the courses that deal specifically for cell banners in our coaching platform, but I can do the same thing with expired listings. I circled back with expires, but I don't go just after recent expireds. I go deep. I might go two years deep. And the way I go two years deep as I just do a search on my, on my lesson, I do a polygon search. I go two years, need make sure the house isn't back on the market. I call the expired listing and I say, Hey, just showed your house. Just showed a house in your neighborhood. One, two, three, Johnson. I did some deep research this morning. I see you had your house on the market a year and a half ago. I know this is a crazy question, but would you consider for the right price at this point, because I know you're selling at one point they say, yes. Great. I'd love to come by and talk to you about it. Can I come by and premium your house trying to start the conversation. So those are, those are some tactical, you know, some things that you can think about, you know, doing that other agents probably are not doing in your market right now. Yeah. It's just about starting that conversation. Start a conversation and being really authentic and being genuine and being real. Don't be too scripted. You need to have some scripts. Do you know what to say? But you want to move off the script as soon as you can. If you want to, you want to get there, but then you want to be like real and personable and be just a human being with people. People will appreciate that really rapidly. And the biggest fear point for new agents is they don't know how to start the conversation. And that's why scripting can help in the beginning. But then you want to put it in your own voice. You want to make it just be who you are.
JON: Makes sense. Yeah, for sure. So you're also the author of the accredited luxury home specialist designation? What is that?
JIM: I am, yes. I think it was 2004, I went to a meeting of 600 top educators in the country and they said, what's the missing component in education at that point? And, uh, they said, you know, we need more on the luxury home front because we have a lot of people in our markets that want to go into luxury, especially in your agents that really aspire to do more affluent housing with buyers and sellers, but they don't know what to do or how to do it. And so I wrote that I was, I was charged with writing that program. So we wrote the credit luxury home specialist designation program. And, so it's taught live across the country, but you can also take it online. Um, so, you know, that's available online for people to take. And it's basically, if you take the lab course two days, I think you can get through it probably eight, 10 hours online. Once you've gone through that designation, we teach you how to target upload buyers and sellers to earn the designation. There's an educational component and an experiential component. So the educational is you've got to take the course, you got to get an 80% on your exam. Once you've gotten that out of the way, then you need to close two transactions with a buyer or seller, uh, that, uh, are two times the average sales price in your market. Once you've done that, then you get to use the designation that ALHS does. And people say, well, Jim, if I'm a new agent, I mean, how do I do that? The way you do it is you learn by going through the course and we teach you how to do it, and then you go ahead and apply them material to market and then it'll happen for you. So we're very proud of it. Um, we've had about 6,000 people attend this course and get their designation in North America and Canada and United States.
JON: Wow. Yeah. And what do you think is the importance of having designations?
JIM: You know, the boards that doesn't nations, it's not the letters behind the name. So, you know, I have, I taught designations for NAR for uh, 10 years. I taught the ABR designation, CRS designation, and uh, I did the assistant designation. I've done a lot of this nationwide. So I always taught in my classes that it's not the letters behind the name, you know, people don't know what those things mean to a client. It's really about the education that you're getting in the classes and how you're applying that material, uh, in the field. And so here's where, here's where it really counts. And I was telling you this, this, that confidence breeds confidence. And once buyers and sellers feel your confidence at a high level, they're much more apt to do business with you. And so people will say, well, how do you have confidence? I'm a new agent. I feel I don't have confidence. How do I get confidence? Confidence is born from competence. Competence comes from education, skill building. So once you start to develop skills and have good education and you have like a solid foundation, your competence gets better. So your confidence gets better, right? And so they're hand in hand. Um, so I would say when you're not confident, go back and build some competence or skill building and training. Right. That's where it's going to come from. It's not gonna come from anywhere else. You've got to get out there and get some training.
JON: Definitely. All right, well I feel like we could talk for another hour or so, but my next question is one I ask of all of my guests. If you could go back to the beginning of your career, what is one thing you would do differently?
JIM: Look at that. That's a great question. I'm accessing my brain now. I would go back and I would start, I would do it. I'm preaching now, which is what I had to learn over time, which is I would have built my spirit plus much more effectively. Um, just to kind of go back in time, I started using CRM probably a two or three years after I own the business and I'm encouraging all my students, everybody I coach is you gotta use CRM from day one, CRM beating meaning client relationship management software or um, uh, in most you're joining a franchise, most franchises have it, you can buy it from top producer, lion's desk. There's a million different systems out there that you can get CRM inexpensively, referral builder, there's a ton of them. So I would use that day one and I get that. If I was going back in time, that's what I would do. I asked him, just as a side note, I'm so old that when I started using TopProducer two or three years after I got in the business, it was a DOS program, number one, and it was on these floppy disks and you would do all your work on this computer today and then you would have to put all your floppy disks then like 10 of them every day, save them on these floppy disks and then move that to your assistant's computer. And shoot, I have to load it on this terrible situation. I, you can't imagine how bad, uh, but he's so lucky today that everything's cloud-based and easy to use everything. And you can have apps on your phone and be in the field and make notes. I mean, the technology is so incredible today to really power your business that there's really no excuse not to.
JON: There are a lot of cool tools recently too, that bring together your CRM with your calendar and your contacts are bringing it all into one world.
JIM: Absolutely. Absolutely. Yeah, for sure.
JON: Awesome. All right, Jim. So if somebody wants to learn more about you, about your coaching, where would they go?
JIM: So I'll tell you, I'll just do a quick commercial on our coaching. We're at erealestatecoach2.com. We have a coaching class over there called the path, and it's super affordable for new agents. It's really designed for all agents to take, but it's one of the most affordable in the country. So I call it the Netflix of coaching. So it's hundreds of videos with me coaching one-on-one, just like we're doing here. But as you're learning about, you know, all the aspects of the real estate business, we have downloads that you can download a software. I'm giving you a script, a drip system. I'm giving you a technique and objection handler, a form, a letter, whatever, and you hear me talk about it. You can actually download it in real time and pull it into your system, modify and customize it, put your brand on it and get it out the same day. So it's all like plug and play, so to speak. And so tons and tons of material there. We also pair that with live coaching every Monday for my students. We do that on a closed Facebook group. So not only do people get the kind of Netflix, they get the live coaching every Monday as well. And then we've got a bunch of tools built in sphere of influence tools that are included. We call it our five by five, so everybody gets 14 days free when they join the system to just try and see if it works for them. Uh, but we don't accept everybody. So it's a system that we want to make sure that you're the right fit as an agent coming in that you're willing to committed and that we feel like it's a good match. So we do a discovery call with everybody that's interested in it. So students go over there to a real estate coach and they click the path, they'll see it. It's a 15 minute call with me to make sure it's the right fit. By the way, unlike most coaches in the country, it's actually me doing it, you're not dealing with a hundred other coaches, it's actually me working with you directly. We also do one on one coaching, uh, which is really a very select group of agents that I work with across the country and people want to go to that level as well. So that's, that's how we work. And uh, you can also catch us, I'd love to have your audience members catch us at Facebook at e real estate coach and also on Instagram at e real estate coach as well.
JON: Okay, awesome. And I'll include links to all of those in the show notes. Thank you so much. Yeah, thanks for being on, Jim. That's it for this episode. Thanks for listening. If you enjoyed the talk, you can subscribe to us or leave a review on your podcast. Player of choice. Join us next time for an in depth discussion of women in real estate. Shop Talk is a production of the The CE Shop.