Podcasts about zestimates

In this episode of the Real Estate Education and Investing Podcast, Erin Spradlin and James Carlson, seasoned real estate agents and investors, reveal a crucial pre-listing strategy most homeowners never consider. Erin explains how sellers can contact Redfin directly to remove their property's estimate when it's lower than their intended listing price, preventing buyers from seeing unfavorable discrepancies that could hurt negotiations. Automated valuations like Redfin estimates and Zillow's Zestimate have major limitations since they can't account for aesthetic improvements or updated features that add real value to properties. The conversation then examines two Colorado neighbors' contrasting insurance experiences after the 2021 Louisville Fire. While Safeco paid $311,000 within seven weeks after a simple interview, State Farm initially paid only $131,000 after requiring extensive documentation and a year-long process, though they eventually reached $850,000. Critical protection strategies emerge from this analysis, including understanding depreciated versus replacement value coverage, filming property contents, and asking specific questions about claims processes before disasters strike. This episode combines practical listing advice with essential insurance knowledge for today's challenging real estate market. Contact James: james@jamescarlsonRE.com Contact Erin: Erin@erinspradlin.com For more information visit: https://www.jamescarlsonre.com/ https://www.erinandjamesrealestate.com/

Tired of riding the real estate commission rollercoaster? There's one simple fix: more seller appointments. Locking in just 1-3 seller appointments a week will transform your business. More listings. More income. A scalable, burnout-free business. Plus, you'll uncover more investment deals and flip opportunities.  A steady flow of seller appointments is the first step toward financial freedom—but how do you get them without spending hours cold-calling? The answer: a home valuation call-to-action. Homeowners are naturally curious about their home's value, and they want something more accurate than a Zestimate. For a small investment (as low as $10), you can turn that curiosity into a steady stream of seller leads. In this episode, I break down why this is one of the most cost-effective ways to book more seller appointments—and how you can start using it today.   Things You'll Learn In This Episode  -A quality lead at a fraction of the price  Home valuation leads aren't looking to sell their houses fast, so why would we choose them over instant offer leads? -What makes home valuation leads so effective  Instead of cold calling, hoping you have the correct number, and possibly pestering people, home valuation leads have already opted in. Why does this make converting them easier? -How to work a home valuation lead  Is it better to pay a service to generate home valuation leads or to do it yourself?     About Your Host Tom Cafarella is a real estate investor, agent, coach, and entrepreneur who helps real estate agents achieve financial freedom through investing. Agent Investor is the only brand that helps real agents get off the real estate roller coaster and start building wealth by investing in real estate.     Check out this episode on Apple Podcasts, or Spotify, and don't forget to leave a review if you like what you heard. Your review feeds the algorithm so our show reaches more people. Thank you!

In this special replay, David Sidoni dives into one of the most common first-time buyer questions—should you buy a home directly from the seller? Plus, the truth about Zillow's Zestimate and why relying on it could cost you thousands.Buying directly from a seller (For Sale By Owner / FSBO) sounds like a great way to score a deal—but is it? David breaks down the real risks of buying without representation and why FSBO deals often leave first-time buyers unprotected and overpaying. Plus, he exposes the shocking inaccuracy of Zillow's Zestimate, and what you should do instead if you want to make a smart offer.Quote:“The seller pays for your realtor. You shouldn't have to do this alone, especially because you can hire a pro for free.” – David SidoniHighlights: • Why most FSBO deals don't save you money—and often cost you more. • The real reason sellers skip listing on the open market (hint: it's not to give you a deal). • How Zillow's Zestimate is often off by thousands—straight from Zillow's own data. • What buyers miss out on without professional representation—and why it's risky. • Why timing the market wrong can cost you more than “overpaying” today. • How amortization works—and what you REALLY pay over the life of a loan. • Why owner financing might sound appealing—but often benefits the seller, not you.Connect with me to find a trusted realtor in your area or to answer your burning questions!Subscribe to our YouTube Channel @HowToBuyaHomeInstagram @HowtoBuyAHomePodcastTik Tok @HowToBuyAHomeVisit our Resource Center to "Ask David" AND get your FREE Home Buying Starter Kit!David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with two decades of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer. Subscribe for regular market updates, and leave a review to help us reach more people. Ready for an honest, informed home-buying experience? Viva la Unicorn Revolution - join us!

Most people think Zillow's Zestimate is the best way to value a home. The truth is, it's not.

Register here for GRE's live online event to learn about ‘Cleveland's Amazing Cash Flow Opportunities' on Thursday, March 20th. Keith discusses the impact of recent federal job layoffs, emphasizing the importance of diversifying income sources. 40% of Americans experience job loss at least once in their careers, with men more affected. He advocates for real investing in real estate as a safety net. Seth Williams joins the conversation to discuss the use of AI in everyday life and real estate investing. Hear a practical example of how AI can help with real estate due diligence, such as reviewing municipal regulations and zoning rules. Resources: Check out Seth's resources, including the Pulse Inner Circle community, to learn more about practical applications of AI. Show Notes: GetRichEducation.com/543 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching:GREmarketplace.com/Coach Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, amidst 10s of 1000s of federal workers recently getting fired. It's not rare, because throughout their working career, layoffs hit 40% of Americans. How do you hedge yourself against the danger of losing your job? Then get a fascinating understanding of how you can use AI to improve your everyday life, and some applications for AI in real estate investing today on Get Rich Education.   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:19   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:35   Welcome to GRE from Sunbury, Pennsylvania to Sun Valley, Idaho and across 488 nations worldwide. I'm Keith Weinhold, and I'm grateful to have you with me here for another week. This is get rich education. I'm known as the guy that back in 2015 was the first person to explain how real estate pays you five distinct ways at the same time when mass federal layoffs hit recently, you know you can learn something really important at a time like this. And no, it's not about the Washington, DC real estate market. That's not where I'm going here. That's not the bigger lesson, unless you're perhaps in the DC real estate market, it's shaping up to be 10s of 1000s of federal workers that are getting the boot as the result of the new administration in charge. We'll see where the number lands. But the thing is, is that federal jobs have long been deemed as the most secure, and yet more firings are coming. So if they're the most secure jobs, then what does that say about you and the safety of your job in both your near term future and your long term future, whether you're in the public sector or the private sector. I've worked in both sectors, and yeah, sadly, this is not such a rare occurrence. Many sources cite that roughly 40% of Americans get fired at least once during their working life. Job loss is more likely for a man than a woman, and it's happened to me. Yep, even I've taken that awkward and awful feeling box full of desk stuff, walk. The big lesson here is that you need to grow a second source of income, Experian and fed data. They cite that the average debt per consumer is about $39,000 worth of student loan debt, and another $24,000 worth of auto loan debt and another $6,500 worth of credit card debt. Well, those are not good debt types, like real estate debt is where you can outsource the debt to a tenants. Instead, you are the one that has to pay these type of debts, and that's why a lot of job losers are going to decline into a financial tailspin. They will default on their payments. They will become delinquent, they will descend into bankruptcy, and they will have a destroyed credit score, and the incidence of depression and suicide that even goes up for these people. Now, as we know, most of the so called financial advice out there that targets budgeting, how to cut your expenses. That's okay. You can do a little of that, but if you lose your job, a bundled cell phone plan in ditching your $7 latte is hardly going to help you. See, here's the thing that a lot of people fail around. Lies, even if you get a promotion and a raise at work, it still only pads a dangerous single source. It's still just a sole income source. Instead, what's powerful is, rather than budgeting, it is increasing your income, but it needs to be a source outside of your day job. That's how you get income diversification at the same time. I mean, you could take on a part time job or freelance work and accomplish that, but see the problem there is that you've lost your irreplenishable time. That's a one way street that time is never coming back. Don't live below your means. Grow your means. Owning an income property that can completely solve all of these problems, even a low cost income property of, say, $200,000 and Okay, a property like this, that might start with just 100 to $300 per month of residual cash flow, but that amount tends to rise even faster than inflation, because, as we know, your mortgage payment stays fixed. That's how that happens, and additionally, your 200k property at just 5% annual appreciation that grows to 255k in just five years. And if you only made a 20% down payment of 40k on this well, that property that grows to over 100k of equity in five years because you've got both the appreciation and the tenant made loan pay down. There is more to this. Besides increasing your monthly income, you can often take a chunk of this 100k plus equity with a cash out refinance that is a tax free windfall event, you heard that, right? Tax free, and you still get to hold on to the property. So a simple, low cost 200k property, just one of those, it increases your income now it gives you a second source of income, and it simultaneously gives you a leveraged windfall chunk that you can access in one nice, tax free cash lump. And one thing's for sure, you want to get a loan for income property and get that property now why you have your job? Because when you lose your job again, 40% of the time, no mortgage underwriter will qualify you when you're unemployed, relying on one income source that is kind of like playing Jenga on a wobbly legged table. So really, the bottom line here is that widespread federal job firings, they have really brought to light how many people are vulnerable with just one source of income. Why would anyone do that? Owning investment property solves the problem. Plant that second income seed now you can't have just one income stream that is too close to zero, that is precariously close to zero, and much of your life's thought pathways. They're about expectations, your expectations for the future, the way you think about your future, and if there's even a looming threat of losing your job in the future, you know that might not happen, but just the mere threat of losing your job that can induce stress. So that's why you want to do something about that, and I have a great resource to share with you shortly that me and the team here at GRE are going to help you with in you getting that vital income diversification a second source, but first Tax Day is next month. If you aren't getting an extension, you be pulling your tax documents together Trump tax changes are anticipated any time here, the highest federal income tax rate is expected to stay at 37% the standard deductions are moving up soon, indexed to inflation, $15,000 if you're single, $30,000 if you're married. Basically this means that things like your donation receipts. You know what? They are not worth saving and tracking unless they exceed those standard deduction amounts. And I like easy ways to remember things as you're pulling together documents for your tax preparer, if you are the tax preparer yourself, a w2 form shows. Income from your employer. A 1099 form shows income that's not from an employer, really. That's the distinction and an easy way to remember it. And to my point earlier about having more than just one vulnerable source of income, I hope that your 1099 income not from an employer, like the rents that your property manager collected for you that those 1090 nines are increasing faster than your w2 income, which is from an employer.    America's first car free neighborhood. I sent you more about that in our newsletter recently, and you said that you really liked learning about it. Yes, America's first car free neighborhood. It's had its share of detractors and skeptics and supporters since it broke ground in 2021 these are largely rental apartments in Tempe, Arizona, that is just the east of downtown Phoenix. Residents get around with light rail and E bikes. Studio apartments start around $1,300 a month, and three bedroom units around $2,700you can meet your neighbors more and get to know your community when everyone's not in their car and garage bubbles. So I found this really interesting. One resident of America's first car free neighborhood said We've probably made more connections here in six months than when we lived in the suburbs for 15 years. That was interesting to learn about in our newsletter.    Coming up on the second half of the show today, an expert guest and I are talking AI, think about all the time that this is going to save you. Think about all the brain damage that this is going to save you. Think about how much better informed you're going to be and how much smarter you'll feel. That's coming up shortly. Hey with what I mentioned earlier, I am announcing that coming up in just a couple weeks, here on March 20, it is our live online event for an amazing Cleveland cash flow opportunity. And why Cleveland now? Well, healthy, real world monthly rents are more than 1% of home prices. That is a lucrative ratio. And on top of this, we are layering the BRRRR strategy by rehab, rent, refinance and repeat, where cash flow averages more than $500 per door. This strategy, it allows you to put fewer dollars in the deal, and that's why it's really popular. Be sure to show up and learn more. Our last live online event was last year. It was for BRRRRs, and we had a record 538 registrants. We're going to examine single family properties in C and C plus neighborhoods. Those are the investor sweet spots here. And besides learning about real estate due diligence and the Cleveland market, there will also be a buying opportunity. Yes, the bur strategy allows you to invest with that low equity position, yes, both investor advantage areas, with the BRRRR strategy layered on top of it, it's the right opportunity for you if you need to build that second or third source of income. And besides all that, there's just the simple fact that amidst the well known national undersupply of housing. Entry Level homes, like these ones in Cleveland, they are even fewer. That entry level segment really has the scarce supply. I mean, you're going to own a scarce asset that everyone wants and needs. And this live event is one of course you can join from the comfort of your own home. It has two co hosts. You are going to be joined by one of our terrifically qualified GRE investment coaches and one of our top partners who has helped investors create wealth and grow their portfolios for over 20 years. I know him. I've had dinner with him. You can register now at GREwebinars.com Again, it is March 20. Our last one had 538 registrants. That was a record. Register while you can it is open now at GREwebinars.com more next. I'm Keith Weinhold. You're listening to GRE   you know what's crazy. Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I saw. Putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family to 66866, to learn about freedom family investments, liquidity fund again. Text family to 66866    Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start now while it's on your mind at Ridge lendinggroup.com that's Ridge lendinggroup.com   Blair Singer  16:35   this is Rich Dad, sales advisor, Blair Singer. Listen to get rich education with Keith Weinhold. And above all, don't quit your Daydream.   Keith Weinhold  16:51   How do you really use AI? Can you believe if you have a question about anything in life, 90% of the time, it already makes more sense to ask chatgpt than a human being. That's what my longtime friend says. He's with us today, and he hosts the terrific R E tipster YouTube channel. Welcome into GRE Seth Williams,    Seth Williams  17:15   hey, Keith, great to be here. Thanks for having me. Seth, you've been interested in AI for years. Tell us how your perspective has evolved over time. A lot of people have pretty big variations in how much they use AI and how much they're even aware of it. Personally, I use it every day, like many, many times a day. Chatgpt is open almost all the time, and I use it for almost anything you can imagine, like when I have a question about almost anything, it makes more sense to ask chatgpt than it does to do a talk to a human, because I can get direct answers. It's armed with pretty much all the information that's publicly available on the world is an incredible resource. And when I talk to people and I ask them, like, Hey, do you use chatgpt? And they either say, What are you talking about, or they say, Yeah, I've used it once. It like, it just hurts me. You know, it's like, seriously, you have a superpower at your disposal here. You're not using it. It's kind of like what the internet was back in 1995 or something, where, like, some people kind of got it, but a lot of people didn't get it yet. It's pretty crazy when you can harness the power of not just chat GPT, but all of this AI stuff that's available now. Like, there's incredible, very powerful leveraging opportunity here.    Keith Weinhold  18:27   I use it about every other day. I bet after talking to you, it's gonna make me want to use it more. But, yeah, the guy that cuts my hair, he's only 25 years old. He doesn't seem very familiar with this. But like you said, it's a lot like Google in 1995 to maybe 1998 like, people just didn't automatically think of Googling something. And it's beginning to get that way, I think with using an AI like chatgpt to answer your questions, why don't you tell us about some of the biggest misconceptions that people have about AI?    Seth Williams  18:54   Well, that's good question. I guess it kind of depends on where they're coming from and what they are even aware of in terms of what is capable of. But I know one thing I hear from time to time is people will say, Well, I'm not a content creator, so I don't really have a use for that, like it makes sense if you're like a blogger or a podcaster. And I guess the good thing is that they at least have some awareness of what it can be used for. But things like chatgpt can be used by pretty much anybody who knows how to type on a computer or even speak to their phone, the chatgpt mobile app, for example, I just love this thing you do have to be a paying Plus member, which is 20 bucks a month. That is a laughably inexpensive price for everything that chatgpt could do for you, especially a mobile app. I can turn this thing on. I can use it as a camera to point to anything and have it give me insights and instructions on how to deal with this thing, whether it's a plumbing problem. I was just using it this morning. I had my phone set up on a tripod on my desk, pointed at Zapier trying to figure out how to make two complex softwares work together, and I just had to speak to it in real time. Time and ask it, this is what I'm trying to do. How do I do this? I don't get it, and it explained exactly what to do. And this was help that I could have paid a consultant money for, but it just came from this app, and all has to do is just look at my screen and it understands all of it. It sees things that I don't see. I know people that use chatgpt as the therapist. I've never done that, but I've know a whole lot of people that do that kind of thing. Yeah, and it gives them legitimate, useful feedback, and it's available 24/7, and it doesn't cost 100 plus dollars per session to talk to them.   Keith Weinhold  20:32   You the listener right now are thinking about all the jobs that this is displacing, surely, but why don't we pull back and think about no Seth. If someone is completely new to AI, what's the first thing that they should try to use it for?   Seth Williams  20:46    If you are a real estate person? Specifically, I don't know if everybody listening to this is necessarily, but as a real estate investor, the first thing I ever used it for was writing property descriptions for me, like when I had a property I was trying to sell. I know there's a great way to explain this thing, but I don't really know how to do it in my own head. Yeah. And you can just feed it basic information about the property and say, Hey, write me a beautiful, compelling property description that will make these things sellable and make people you know, respond with interest and that kind of thing. And just do that, and you'll see what I'm talking about it. It's an incredible writer. It does a great job. What's your question about where do they start with chat GPT? Is that what you're asking? Yeah, if one isn't familiar with it, where should they start? Well, another thing you could do daily use type thing. So something that I've used chat GPT for, I've taken a picture of my closet in the different clothes I have to wear, and I send it to chat gpati and say, Hey, what should I wear today? Like, what different articles of clothing would you recommend that I pair together? You could do this with your cupboard. Say, Hey, here's what I have in my cupboard. Tell me what I can make with this and then give me the recipe to make it. You could do this at the drug store. You'd go take a picture of the shelf and say, Hey, I have a splitting headache. Show me what on this shelf will solve my problem right now and get rid of my headache. I've actually got this problem worse than most people, where I can be looking right at the solution, and I don't see it like it's right there in front of me, but I miss it. But chatgpt doesn't miss anything like, if it's in the picture, or even in the the live vision camera, it's like a live video feed that you can point at anything. Like it will see it, and it will point out stuff that you very likely are missing.   Keith Weinhold  22:24   That's amazing. I haven't used its image capability that way yet, and really that brings up Seth. There are so many AI tools available, like an explosion these past couple years. How is a person supposed to decide which ones are worth using and which ones are not.   Speaker 1  22:41    It's very true, there's a lot of stuff out there. It can be a little overwhelming. I can tell you, I've used chatgpt, I've used Claude, I've used Gemini, I've used grok, bunch of different AI chat bots out there. They can all do some pretty amazing things, but if you just don't know where to start, like I'll see if I can only have one of them, chatgpt is what I would go to. I think part of that is just a level of familiarity, like I've just used it for so long now. It's like a comfortable old shoe, but it really is innovating at an incredible speed, and it's this AI boom has been happening for over two years now, and chatgpt is still arguably at the top. I mean, they've done a really good job of staying on the bleeding edge of what can be done now, and chatgpt is free, but if you pay for the $20 a month version of it, you just unlocks a lot more capability and usability. That's probably what I would do. But there's different Claude. I've seen this myself, and I've heard this from a lot of other people. If you're trying to, like, write a story, for example, Claude is actually a better writer than most things out there. So that's what you're trying to do. Like, go with quad you want, like, a one, all purpose tool that can do pretty much everything reasonably well. That's what chat GPT is, in my opinion,   Keith Weinhold  23:52   those are some great tips. And yeah, I thought it was pretty impactful last year, when even when you do a Google search, at the top of that, there is now an AI summary before you see your conventional Google Search sort of hits, which actually concerned Google advertisers for a little while. How about some of the most driest and esoteric reading that we can think of, and how AI can speed that up and make it more interesting, just say, doing due diligence in real estate, like reviewing municipal regulations or zoning rules and property restrictions. How does AI help you there?   Speaker 1  24:27    I've used it numerous times for that, perfect for that. For example, in the land business, one way that you can make money from land is by subdividing land. And one strategy within the subdividing business is to find properties that are they're called exempt subdivides, which means that you can essentially do the subdivide and not get anybody's permission to do it, like you can just split it up and not ask anyone. And you can do it, but you can only do that if the size of the property is over a certain threshold. In Texas, I think it's 10.01 acres or. Higher. There's certain places Michigan that are similar, but you can figure this out by looking at the county and the municipal guidelines to understand what is that threshold, or does that threshold exist at all? You can find these PDFs from the county or the municipal website. Upload it to something like chatgpt or Claude, and just ask the question like, how big does a property have to be before it's exempt from the subdivision rules? And it'll tell you, if it's in there, it can redo the thing in a matter of seconds and tell you what the answer is and where it found the answer, a very similar thing with like legalese and legal writing that's really hard for the average person to understand, probably by design, it can decode that for you. I've gotten this before. I've gotten really poorly written emails from people like electricians, or even just, I can't believe there's already happened exactly. They explain things using a lot of industry jargon and lingo, and I don't know what they're talking about, right? And I can copy and paste that email into chatgpt and just say, Hey, I got this email from an electrician. I have no idea what this means. Can you explain this to me? Like I'm a five year old, and it does it, and it works every time where it's like, oh, okay, that's what you meant. I can just know that instead of having to respond to them and say, Hey, can you rewrite that for me? I don't understand it, and they reply, and it's bad again. And it goes back to this a lot of questions that a lot of us have every single day. Historically, we've gone to people to ask those questions, and that's fine, but it wastes their time, and it wastes our time, and we still might not get the answers we're looking for, but with things like chatgpt, like you almost certainly will get the answer you're looking for very quickly, and it doesn't waste anybody's time other than the time you have to spend asking the question. So it's a big 8020, lever, you can get a lot more done without relying on the limits of humans to get the job done.    Keith Weinhold  26:50   We're talking about how you can use AI in your overall life and in real estate a little bit too. With Seth Williams, well, you're such a good resource. You're really pretty pioneering in learning AI and helping you with problems and solutions in both your overall life and in real estate investing. So tell us by now, what are some of the most unexpected or just like, totally impressive things that AI has helped you with, and how do you do that stuff?   Seth Williams  27:17   That's a really long list, but the thing that I have been most impressed with as of late is something that both chatgpt and Google Gemini can both do this now, kind of in different ways, but they can look at your computer screen and help you figure out all kinds of complex problems. Talked about this a little bit in part one, but earlier this morning, I had my chat GPT mobile app right here on my phone. I had it on a tripod pointed at my screen, and it was walking me through how to set up a couple new zaps on Zapier using a web hooks, which just right there I probably lost most people. It's just a confusing thing to figure out. I still don't fully understand it, but I was explaining my problem and what I was trying to do, and I could just talk for as long as I want, until I'm done talking. And then chatgpt chimed in, and in about 30 seconds, it solved my problem and told me exactly what to do. And Google has another way of doing this, where it's actually like on your computer, like seeing your entire screen, and it kind of does the same thing where a voice talks back to you. It's amazing, because I know how hard some of these things can be, the type of thing that would either make me give up and just not do what I'm trying to do, or pay somebody a bunch of money to come in fix the problem for me, or stand over my shoulder, either which way is not a great outcome. But with the help of these AI chat bots that can see everything going on, and they have basically all the knowledge in the world about how to solve the problem. They can do it really quickly and easily. And it's amazing. That's one of millions of different things you can do with chatgpt.   Keith Weinhold  28:51    Oh dear. If AI looked at my computer screen, the first thing they would probably tell me is to close half of the tabs that I have open. Oh, yeah, me too, yeah. How are you personally using AI in your real estate investing business today?   Seth Williams  29:07   lots of ways, but one thing that has been particularly useful to me is the use of what's called Custom gpts, which basically just means, right, you are training chat GP T to respond to you in a very specific way based on certain instructions you give it. So every time you start a conversation like it already knows why you're there, what you're looking for, what assumptions you want it to make. One example of a custom GPT I've made is one that can very quickly analyze big commercial projects like whether it's a self storage facility or industrial outdoor storage, I've explained to it how I want it to run the numbers based on certain information. I give it like square footage and pricing and occupancy rates and that kind of thing. So I can basically feed it like six or seven key pieces of information and 20 seconds it can tell. A give me, like a one to 10 rating based on this is a great deal, you should move forward, or this is a terrible deal. Look the other way. And the reason this is a big deal is because the way I used to handle this was I had a giant spreadsheet, and I would go line by line, filling in all these different inputs, and it would take me, at a minimum, like 30 to 45 minutes to get to the same place of understanding, like, Yes, this is good. I should keep going on this. Or no, this is a terrible deal. And it can just, like, look at a lot of stuff, a lot of data, very quickly. And it's not like the final answer necessarily, like, you don't just blindly follow whatever it tells you to do, but it can just get to the bottom of stuff, or, I guess, get further to the bottom of stuff, wasting a whole lot less time. So, you know, the real estate that's super helpful, and people in, like, banking and accounting and all this stuff fields where, like, there are full time analysts that look at this stuff all day long. And it naturally takes humans a lot of time to figure this stuff out, but AI can get there much faster.   Keith Weinhold  31:03   Yeah, that is pretty remarkable, and it sounds like you're finding a pretty high degree of reliability and not getting what we call hallucinations in the AI world.    Seth Williams  31:15   Yeah, that is sort of a developing thing. So hallucinations, it's definitely a real issue where basically we'll just make up stuff that sounds viable, but it's not right, and the only way you would really know that is if you knew better in the first place, which means, why am I even asking the question if I already know the answer? So it was kind of an issue where chatgpt and Claude and Gemini would just make stuff up. One of the ideas with some of the newer models that are coming out with, like, oh one or oh three mini now is what they've got. They use a lot more logic in these models. And the difference is, when you ask it one of these questions, and if it doesn't know the answer, it'll just say, I don't know. That's a great answer. They're hallucinating. Yeah, absolutely. And you know, chatgpt Four, oh, it's kind of like the difference between if you hire a very polite VA in on the other side of the world who's trained to be a yes man or a yes woman, like they want to make you happy, and they're going to tell you what you want to hear, whether it's right or not, whereas, you know, these more advanced logical models are more like your account or it's like, I'm not here to impress you. I'm just going to tell you the facts and how things really are, I think, depending on what you're trying to do, like, there are certain situations where you'd want the more creative four, oh, version of the situations where you'd want the logical ones. So I'm trying to, like, do code or analyze numbers or do something where accuracy is very important. That's where I want to use those logical models. But if I'm like, writing a story or song lyrics or whatever, and creativity is more important, that's what I'd want to do four Oh, so it's not that either one is like better or worse. It just depends on what you're trying to accomplish and what output you want from it.   Keith Weinhold  32:54   Sure, part of this is knowing which tool to apply. There might be a grain of gratefulness, that there are such thing as hallucinations, right? I mean, it still takes you a human being thinking to confirm, does that answer make sense and it's just simply a good idea? Or could that be inaccurate? So the human component sounds like isn't completely displaced yet at this point, starting probably more than 10 years ago, Seth, when people began to look for answers to everyday questions, oftentimes, they would go to YouTube and they would just like to get their answer that way. Why is this faucet leaking or anything else? And watch a YouTube video about that. What's your process though for using AI to take a YouTube video and summarizing it and extracting key insights that way?   Seth Williams  33:39   Well, there is a free chrome extension called glasp, G, L, A, S, P, that I just used it this morning. All the time. I've heard of it. It kind of sits on top of YouTube. So when you're on YouTube and you have this chrome extension there, this little button appears, and you can copy a transcript of the entire video and then take that and paste it into chat, G, P, T, and you can ask it whatever you want about what that video is about. You could say, summarize it in one sentence. Or you could say, Does this video talk about this issue? And if so, where or what does it say about it? You could say, take this video and turn it into a blog post for me, literally, like, whatever you can imagine that could violate come from that video. You could get that information from it. And that alone is is amazing. And it kind of goes back to, like, what is the purpose of this video, or what is my question that I'm trying to get answered? Am I looking for entertainment? You know, for example, I've been watching a lot of videos about guitars and guitar pedals and amps lately. I want to hear what this guitar sounds like. I kind of have to watch a video for that. Like, a transcripts, not really going to help me chat. GPT is not going to help me. Like, I just actually have to watch the video. So this doesn't totally render videos useless. It just depends on why you're watching it and what information you want to get, and how can you get there faster.   Keith Weinhold  34:50   This has been great. Seth, are there any last things that we should know about? Ai, whether that's misconceptions or making sure that we're using the right. AI tools and avoiding the wrong ones. Any last thoughts? Seth, if   Seth Williams  35:04   people are really interested in this stuff, I mean, there's plenty of places you can go online. This is a huge trending topic on YouTube, lots of good information out there. We actually put together a school community intended primarily for real estate investors and business people. It's you can find that at Pulse inner circle.com, P, U, L, S, E, inner circle.com. We're talking about this stuff all the time. My friend Mike balcom and I did a couple different courses on this stuff, like a guided course that was awesome. I mean, we even learned a lot of stuff going through the process. But it is a rapidly advancing area right now, and it has been ever since chatgpt came out, like, every week, there's some huge new thing out there. It's something that's worth paying attention to, because even, like, right now, it's incredible the stuff you can do. And interestingly, like, most people aren't doing it. So if you are up to speed and educated on it, you've got a superpower that most of the people don't know exists or aren't willing to learn.   Keith Weinhold  36:01   That's a great point. If you just learn 1% of this, you're going to be ahead of the general population, and it's really easy to do. Seth, I've done some learning about AI myself. This has been a great chat. Thanks.    Seth Williams  36:14   You bet.   Keith Weinhold  36:21   Check out Seth's resources and his own R E tipster podcast. Always love to chat with my man, Seth Williams, Super Down to Earth guy, and also he does not look like a dork like you might think an AI expert would. Yeah, like I told Seth, the guy that cuts my hair is 25 years old. He's a SoundCloud music artist. He mentioned to me about how he writes his own lyrics for his music. I asked him how the results were when he asked chatgpt to write his lyrics or write him some rhymes, he told me he never even thought of that. I couldn't believe it. So yeah, AI, it's just still not top of mind for people.    The two platforms that I use the most are chatgpt and venice.ai last year I told you about how you can turn any document into an AI podcast with notebook LM, and you'll remember that I also played a minute or two of that AI generated podcast right here on the show for you, you can book your travel with AI as well. Have it put together in itinerary for you. Have you asked AI who you are? I hope that you've tried that by now. When I go to chat GPT and ask it, who is Keith Weinhold, let's see, is it accurate? Well, the answer starts with Keith Weinhold, is a real estate investor, author and the host of the get rich education podcast. Well, then it goes on for a few paragraphs. It goes on to say he founded get rich education, a platform that offers educational content through podcasts, blogs and resources about real estate investing, personal finance and wealth building. His teachings emphasize the benefits of leveraging real estate as a long term wealth building tool while highlighting strategies to maximize cash flow and minimize risks. Okay, yeah, I would say that's accurate. No hallucination there. You can also ask chat, GPT or an AI, of course, about your properties. In fact, I'm going to enter the address of one of my rental properties and ask it how much cash flow it generates. So to skim the answer for you, it's okay. It looks pretty accurate. Here. It says that it is a three bedroom, two bathroom, single family home with 1300 44 square feet of living space. It shows the property was last listed for rent at $1,625 per month in March of 2024 Yep, that sounds right. Zillows rent, Zestimate estimate estimates the current rental value at $1,898 per month, is what it says. Okay, and then here's what it says about the property's cash flow. Because I asked that about the cash flow, it writes to determine the potential rental cash flow, consider the estimated monthly rental income of 1898 subtract operating expenses such as property management fees, maintenance insurance, property taxes and any mortgage payments, the resulting figure will represent the net monthly cash flow. All right, well, then it goes on with more info that's less interesting, okay, so therefore, at least this basic question that I've asked it chat GPT, I mean, it cannot know my cash flow unless they know what my loan amount was and what the mortgage interest rate is and those sorts of things. But maybe another AI knows that, though I am not sure.    Hey, coming up here on future episodes of the get rich education podcast, some well known names that haven't been here on the show. Before and another interesting upcoming episode down the road. Here is when a pastor is going to join me on the show. Here, this pastor is an expert in what the Bible says about money. You might be familiar with the Bible verse that says it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God, gosh. Well, how does that make me feel about how the pastor and I's conversation is gonna go here on a show that's called get rich education that ought to be super interesting, and I really look forward to that show. Now, even if you're not a Christian or you don't believe in the Bible, this is going to be a significant conversation, because you cannot deny the Bible's influence. It is, in fact, the greatest selling book of all time, and even if it doesn't personally affect you, it does impact other investors around you and just billions of people across the world. What the Bible says about money coming up, which could have, I guess, some uncomfortable moments here in future weeks on the show, along with a lot of other great content. If you want to be sure that you don't miss that on your pod catching app, be sure to hit the Follow button. Also, if you would please, simply tell a friend about the show until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 2  41:41   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  42:09   The preceding program was brought to you by your home for wealth, building, getricheducation.com      

In this detailed and informative episode, Connor with Honor thoroughly examines Zillow, one of the most popular online platforms for real estate listings and valuations. Whether you're a seasoned home buyer, first-time buyer, or a homeowner considering selling your property, you've probably interacted with Zillow at some point. But how reliable is this tool that so many rely on? Connor provides an in-depth exploration of Zillow's "Zestimate" feature, a proprietary valuation tool that estimates home values using an undisclosed algorithm. He highlights common issues homeowners face when these Zestimates differ significantly from actual market values, often leading to confusion or frustration for sellers who rely on these estimates to make critical financial decisions.Connor also discusses the implications of Zillow's recent decision to include climate change data in their property listings. This new initiative aims to provide buyers and sellers with information about environmental risks and sustainability considerations that may impact property values now and in the future. But how accurate and helpful will this climate-related data be? Connor raises important questions about the source and reliability of this data, emphasizing the necessity of understanding exactly where information comes from before making significant real estate decisions based on it.The episode also delves into the broader issue of online misinformation, a critical topic in today's digital landscape. Connor cautions listeners about accepting online data at face value, especially when it comes from sources that use sophisticated algorithms or artificial intelligence (AI). These systems are increasingly being used to personalize content and advertising, potentially influencing buyers and sellers in ways that are not always transparent or in their best interest.Connor advises listeners to adopt a healthy skepticism, urging them to always verify the accuracy and origins of any real estate data they encounter online. He underscores the value of working with knowledgeable real estate professionals who can provide comprehensive, accurate market analyses based on actual comparable sales data from local multiple listing services (MLS). This traditional approach, Connor argues, remains the most reliable method for determining a property's true market value and making informed buying or selling decisions.Tune in to gain valuable insights from Connor with Honor as he equips listeners with the knowledge and critical thinking skills needed to navigate the complex landscape of online real estate tools and data effeYoutube Channels:Conner with Honor - real estateHome Muscle - fat torchingFrom first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle.Dive into Real Estate with Connor with Honor:Santa Clarita's Trusted Realtor & Fitness EnthusiastReal Estate:Buying or selling in Santa Clarita? Connor with Honor, your local expert with over 2 decades of experience, guides you seamlessly through the process. Subscribe to his YouTube channel for insider market updates, expert advice, and a peek into the vibrant Santa Clarita lifestyle.Fitness:Ready to unlock your fitness potential? Join Connor's YouTube journey for inspiring workouts, healthy recipes, and motivational tips. Remember, a strong body fuels a strong mind and a successful life!Podcast:Dig deeper with Connor's podcast! Hear insightful interviews with industry experts, inspiring success stories, and targeted real estate advice specific to Santa Clarita.

About 30% say they avoid it, saying it's too easy to steal. Want a tech career? AI is changing everything, and some degrees might already be outdated. Plus, the truth about video wills and how Zillow's Zestimate could cost you.

About 30% say they avoid it, saying it's too easy to steal. Want a tech career? AI is changing everything, and some degrees might already be outdated. Plus, the truth about video wills and how Zillow's Zestimate could cost you.

The Moneywise Radio Show and Podcast Tuesday, January 7th, 2025 BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www.MoneywiseGuys.com facebook: Moneywise_Wealth_Management instagram: MoneywiseWealthManagement Guest: Allyn Medeiros, Loan Officer at Agape Mortgage website phone: 661-496-9311

What we can learn from Jimmy Carter's hospice care, how the "Zestimate" has screwed up homebuying and the decisions that make or break your holiday air travel.

Zestimates might look like the gold standard, but they're often way off. Here's what you need to know before buying or selling.

Spencer Rascoff's career is a masterclass in navigating crises. After co-founding the travel site Hotwire, the 9/11 tragedy devastated the travel industry. Spencer helped steer the company through this crisis, leading to its $685 million sale to Expedia. He then co-founded Zillow, guiding it through the 2008 housing crash and growing it to a $20 billion market cap. His third venture, Pacaso, a luxury vacation home co-ownership platform, launched just before the pandemic. Despite initial fears about shared spaces, the crisis increased demand for second homes, helping Pacaso achieve unicorn status. In this episode, Spencer shares with Ilana his hard-earned insights on navigating the highs and lows of startup life and turning crises into opportunities. Spencer Rascoff is a serial entrepreneur, investor, and business executive best known for co-founding Hotwire, Zillow, and Pacaso. As the founder of 75 & Sunny Ventures, he mentors and invests in startups, aiming to democratize access to business opportunities and innovation. In this episode, Ilana and Spencer will discuss: (00:00) Introduction  (02:03) His Early Exposure to Entrepreneurship (04:13) Building Strong Work Ethic in High School (06:07) Spencer's Path from Banking to Startups (07:21) Founding Hotwire and the Impact of 9/11 (09:47) The Hard Truths of Building Startups (11:47) What It Takes to Keep Going During a Startup Crisis (13:58) How Zillow's ‘Zestimate' Led to Its Explosive Launch (17:52) Balancing Speed and Quality in Product Launches (20:50) Zillow's Mobile-First Strategy That Won the Market (25:35) How Zillow Thrived During the 2008 Mortgage Crisis (28:40) Leading Zillow with Empathy and Teamwork (32:49) Why Spencer Left Zillow at Its Peak (33:58) The Fast Rise of Pacaso Amid Pandemic Fears (37:29) How Pacaso Is Opening Up to Retail Investors (38:20) Spencer's Mission to Build Accessible Ventures (41:53) The Secret to His Success Spencer Rascoff is a serial entrepreneur, investor, and business executive best known for co-founding Hotwire, Zillow, and Pacaso. He served as CEO of Zillow, leading the company through the 2008 housing crisis and growing it to 4,500 employees and $3 billion in revenue. In 2015, Spencer co-wrote and published his first book, Zillow Talk: Rewriting the Rules of Real Estate, and in 2017, he was named the Most Powerful Person in Residential Real Estate by the Swanepoel Power 200. As the founder of 75 & Sunny Ventures, he mentors and invests in startups, aiming to democratize access to business opportunities and innovation. Connect with Spencer: Spencer's Website: www.heylibby.ai/spencerrascoff  Spencer's LinkedIn: linkedin.com/in/spencerrascoff  Spencer's Twitter: x.com/spencerrascoff  Leap Academy: Ready to make the LEAP in your career? There is a NEW way for professionals to Advance Their Careers & Make 5-6 figures of EXTRA INCOME in Record Time. Check out our free training today at leapacademy.com/training

Tap this link to access this tool now | https://thelandportal.com/flipman?a_aid=FlipMan&a_bid=82f92444 Are complicated offers slowing you down in wholesaling? With the KISS Strategy, making deals is simple! Flipman will show you how to use tools like Zestimate and Redfin to come up with easy offers that work. By following this strategy, you can quickly know if you have a deal with a seller. It's a great way to cut out the confusion and get closer to closing more deals. Keep it simple and watch your results grow! Use the Promo Code: FLIP MAN to get this tool at a 33% discount Tap the link below: https://parcelfair.com/Account/Register Watch the full training on how to use this tool at the link below: https://intel.getprivynow.com/2022-webinar-replay?utm_source=community.com&utm_medium=sms Tap the link below to sign up for this tool now: http://www.getprivynow.com/#62a8da5ceddd6 Setup your LLC and get access to 250+ Tax Deductions at the link below https://primepartner.info/dealulator Need to Find Owners: https://Skip2Flip.com Text2Flip.com - https://text2flip.com Tap this link https://Dealulator.com to download a free copy of my 1 page contract I've used since to 2003. Follow me on Instagram https://instagram.com/askflipman Twitter: https://twitter.com/AskFlipMan TicTok: https://www.tiktok.com/@askflipman LinkedIn: https://linkedin.com/in/theflipman/ Facebook Page: https://www.facebook.com/flipman.net Join private Facebook Group: https://www.facebook.com/groups/wholesalingrealestate/ #Zillow #wholesalingrealestate #flipman

Your next smartphone will be on your face Meta showcased their "Orion" glasses which they believe will be the smartphone of the future. They'll allow you to see 'holograms' of information or avatars of friends and colleagues, as well as have instant voice access to AI. This version of the glasses is the best we've seen when it comes to being an attractive pair of glasses that are light weight and have a high-quality projection screen that it's actually useful. There's a tonne of tech around these, including a wristband that can interpret your hand signals to interact with the holograms and take actions. These glasses are not ready for primetime - they're costing $10,000 to produce. Right now you can buy the Meta Ray-Ban sunglasses, which are getting an upgrade. You'll be able to ask the AI to tell you about things you can see, thanks to video recognition tools. Will a wildfire take out your dream home? A major real-estate site will give you a forecast Zillow is one of America's go-to real estate listing platforms. They were the leader in providing a "Zestimate" of what your home is worth and will now lead the way to educate buyers on the potential climate risks to be thinking about. By the end of the year there'll be a section on each listing to show a risk score for the potential for wildfires, flooding, extreme temperatures, high winds and poor air quality, as well as the potential cost of insurance over time. Of those new listings added in August - 16% were at major risk of a wildfire and 13% at major risk of flooding. LISTEN ABOVE See omnystudio.com/listener for privacy information.

I want to be very clear: I am NOT endorsing or opposing any politician or candidate. But this is an incredibly important topic and I am hoping that I can break it down fairly and dispassionately. I am also going to try my best to keep my personal views out of it. I look forward to hearing your thoughts, comments, corrections and questions. Here goes…Year Of The Opposite - Travis Stoliker's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.In plain English, what exactly is going on and why is the concept of taxing unrealized capital gains in the news?The concept of taxing unrealized capital gains has become a hot topic, especially as the Biden-Harris administration pushes forward their unique tax policies. In essence, unrealized capital gains are the increases in value of assets like stocks or property that haven't been sold yet. Under a new proposal, the idea is to tax these paper profits annually as if they were actual income.This topic is making headlines because it's a major shift in how we think about wealth and taxation. Traditionally, taxes are levied on income you actually receive—like your salary—or on profits you make when you sell an asset. (Note: When I say “Asset” just think: your real estate, your stock, or maybe a business you own that you sell.) But now, the discussion has pivoted to taxing potential income before it's even realized. (Note: When I say “realized” in a financial concept it means selling an asset like a stock and converting the stock certificate into cash.) The stated goal behind this new and novel approach is supposed to ensure that the wealthiest individuals pay a fair share, addressing concerns over wealth inequality. However, as with any significant policy shift, it brings along a flurry of debates and concerns.The Biden-Harris administration has said: "Preferential treatment for unrealized gains disproportionately benefits high-wealth taxpayers and provides many high-wealth taxpayers with a lower effective tax rate than many low- and middle-income taxpayers."What has been proposed and what is the history of the proposal to tax unrealized capital gains?The proposal isn't just a fleeting idea; it's embedded in the Biden administration's fiscal plans. Officially introduced in March 2023, the proposal suggests a minimum tax of 25% on total income, including unrealized gains, for those with a net worth exceeding $100 million. This isn't a new debate, though. The concept of taxing wealth rather than just income has been discussed for years, but it's only now being seriously considered as a part of fiscal policy.The reason this is coming up this week is that the Committee for a Responsible Federal Budget reported on the Harris campaign's stance. They stated: 'The campaign specifically told us that they support all of the tax increases on the high earners and corporations that are in the Biden budget." Here is the full policy and some important excerpts: But doesn't this policy only apply to super rich people?Yes, but the concern is that this is exactly how the income tax originally started. The idea of taxing only the super-rich isn't new; it mirrors the initial U.S. income tax in 1861, which taxed just 3% of the population making over $800. However, this tax was temporary, repealed in 1872, but its concept evolved, leading to the 16th Amendment in 1913, allowing for a broader income tax.Critics worry that what starts as a tax on the ultra-wealthy could expand, much like the income tax did. Initially targeting the rich, the income tax eventually reached the middle class, with rates as high as 94% for top earners by 1944, showing how tax policies can broaden over time.Even though this policy doesn't yet apply to everyday people, can you give me an example that a common person can relate to?Sure, imagine you own a house. Over the years, the value of your house increases significantly, but you don't sell it. Under a policy that taxes unrealized gains, you'd have to pay taxes each year on the increased value of your home—even though you haven't actually received any cash from that increase. This could create a financial burden, especially if you're cash-poor but asset-rich. Let's try to use an example. Say you bought a house in East Lansing for $100,000 but due to some crazy economic events like the lead up we saw to 2007, the house in theory is worth $200,000. But you have no intention of selling your house because you just want to live in it. Under this proposal, you'd have to pay a 25% tax on the gain of $100,000. Meaning you'd have to come up with $25,000 in cash to pay your taxes on the house. Where would you come up with that cash? Would you have to sell the house in order to pay the taxes? Maybe you did have $25,000 in cash, which you had intended to use to replace the roof on your house or remodel it. Now you would have to use that money to pay taxes. And what if that $200,000 increased value was not real. What if we saw what happened in 2008 happen all over again and there is a market crash and now your house is again worth $100,000? As you can see, this gets very complicated and very confusing, very quickly. To be very clear: This current proposal does NOT apply to your house or mine. I'm just using this example because it's something we can all relate to.Do other countries do this?While some countries have experimented with taxing wealth, including unrealized gains, it remains far from a global standard. For instance, Norway's wealth tax indirectly affects unrealized gains as part of the overall wealth calculation, but it has sparked debates over unintended consequences like capital flight. Similarly, France's former wealth tax (ISF) faced criticism for driving wealthy individuals out of the country, leading to its repeal in 2017 and replacement with a tax focused solely on real estate. These cases illustrate the challenges and potential downsides of taxing unrealized gains, making the U.S. proposal a relatively novel and significant departure from how most countries handle capital gains taxation.What would this mean for innovation and invention in America? What would this do to startups?Innovation thrives on risk-taking and long-term investment. A tax on unrealized gains could potentially dampen the entrepreneurial spirit by imposing financial burdens on profits that exist only on paper. Entrepreneurs might become more cautious, fearing the tax implications of holding onto high-risk, high-reward ventures. This policy could stifle innovation by deterring the very risk-taking that drives breakthroughs.Let's be more specific about how this policy might impact startups. Many startups don't generate profits in their early years. Take Amazon, FedEx, Snapchat, TBS, Netflix, Adobe, and Airbnb as examples—none of these companies made a single dime of profit for more than five years after they launched. Yet, during this period, the paper valuation of these companies soared like a rocket.What does this mean in practice? It means that while these companies appeared successful on paper, they weren't generating cash profits. The founders and investors were reinvesting every penny back into the company's growth—hiring more people, building infrastructure, and ramping up advertising. Often, this reinvestment happens alongside rounds of fundraising at ever-higher valuations, based on the company's potential rather than its current profitability.In plain English, the "value" of these companies on paper kept climbing, but there was no cash flow to match it. If this proposal were enacted, founders and investors wouldn't just need to pour their personal cash into growing the business and paying employees—they'd also need to invest additional cash solely to pay taxes on unrealized gains. Would you sign up for that?I think an example might be useful here: We all know that restaurants are notoriously difficult and often unprofitable businesses. Now, imagine you've opened the dream café you've always wanted. You invest $100,000 from your 401(k) to build out your first location. Things are going well in your first year, so you decide it's time to expand and open a second location. Like many entrepreneurs, instead of paying yourself, you choose to reinvest the business's earnings into hiring the best employees possible. Then, you get an opportunity to launch that second location across town, but it's going to take another $100,000 to make it happen.After working an entire year without paying yourself, and having already invested your 401(k) savings into the business, you need to bring in a new investor to raise the additional $100,000. When the new investor comes on board, they value the company higher, so on paper, the value of your café increases. However, despite this increase in paper valuation, you, the founder, still haven't earned a single dime from the company.Now, because the valuation on paper has gone up (the unrealized gain), you and the new investor not only need to come up with the $100,000 to build the second location—you also need an additional $25,000 just to cover the taxes on that unrealized gain.And let's not forget, startups are incredibly risky. What happens if the company fails? What if the founders are working on something as monumental as a cure for cancer? Would they, and their investors, continue to risk their money, time, and resources, knowing that a portion of it is being siphoned off for taxes on non-existent profits? Would you? Is this really what we want as a society—discouraging the very risks that lead to life-changing innovations?Again, to be very clear: This current proposal does NOT apply to your Cafe or mine. I'm just using this example because it's something we can all relate to.Since people can move, if this happened, wouldn't all the rich people just move and leave the United States?Maybe. That is the problem with policies like this—they tend to have unintended consequences. Wealthy individuals have the resources to relocate to countries with more favorable tax laws. If implemented, we might see a migration of wealth out of the U.S., similar to what has happened in other countries with aggressive tax policies. This exodus could lead to a decrease in investment and philanthropy within the U.S., ultimately hurting the economy. And most importantly, this could ultimately reduce total tax income for the government which would completely defeat the intended goal of this policy.Addressing some common misconceptions about taxes in the United States: “The rich need to pay their fair share” There are some common misconceptions that are often stated that need to be cleared up. It surprises many people to learn that every year, between 40-55% of U.S. households pay $0 in federal income taxes. None. Now let's look at the top 1% of earners that are often talked about. The top 1% of earners bring in around 20-21% of all income in the U.S., but they pay nearly half of all federal income taxes​. This isn't to say that the system is perfect, but it's a reminder that tax policy is already incredibly complex and there are many misconceptions. Can you explain in a bit more detail how this would exactly work?Here's where it gets technical. The unrealized gains tax would function as a prepayment on future realized gains taxes, meaning you wouldn't pay taxes twice on the same gain. If you eventually sell the asset for less than its taxed value or incur a loss, you could get a refund. This system aims to prevent people from being taxed on income they never actually receive, but it also adds layers of complexity.For example, if you're illiquid—meaning most of your wealth is tied up in non-tradable assets—you might only have to pay taxes on liquid assets, but there's a catch: you'd face a deferral charge of up to 10% on the gain of your illiquid assets. And if you pass away, your estate pays the death tax, with any overpaid unrealized taxes refunded to the estate.Can this policy actually be implemented by the President?No, not directly. While the President can propose tax policies, it's ultimately up to Congress to pass them. Given the contentious nature of this proposal and the significant legal and logistical hurdles, its implementation is far from guaranteed. It's a complex policy that would require broad support and careful crafting to become law.How would this tax interact with state-level taxes?State tax systems often mirror federal rules, so if a federal tax on unrealized gains were implemented, states might consider adopting similar measures. However, this could lead to conflicts between federal and state tax policies, particularly in states with lower or no income tax. Additionally, the combined burden of federal and state taxes on unrealized gains could increase the overall tax rate on affected individuals.How would this policy affect retirement accounts and other tax-advantaged savings vehicles?At this point, the proposal does not specifically target retirement accounts like 401(k)s or IRAs, which traditionally benefit from tax deferral until funds are withdrawn. However, if the policy were to extend to such accounts, it could complicate the tax treatment of these savings vehicles and potentially undermine their tax-advantaged status. Clarifications would be needed to determine how, if at all, these accounts would be affected.How do you determine how much tax to be paid? Who determines the value of an unrealized capital gain? For example: how do you know how much a business is worth for sure if you haven't yet sold it? The tax on unrealized capital gains is based on the value of your assets at the end of each year. For stocks, it's easy to figure out because their market value is clear. But when it comes to assets like a small business or real estate that haven't been sold, it gets tricky.For these types of assets, the value would have to be estimated, often through appraisals. This is where things can get complicated and subjective. For example, valuing a business that hasn't been sold yet involves guessing what someone might pay for it based on current market conditions and future earnings.To illustrate how hard it is to value something accurately, just think about how often you've seen wildly different "Zestimates" on Zillow for houses, including your own. This same kind of uncertainty can apply to other assets, making it difficult to determine an exact tax amount.The policy might include safeguards to adjust for big swings in value, allowing for tax credits or refunds if an asset's value drops after you've already paid tax on it. But the details on how this would work aren't clear yet, and it's something that would need to be carefully handled to avoid unfair taxes based on inaccurate valuations.Addressing some of the myths that are being said about this policy:There are several myths or misconceptions often cited which might not hold up under scrutiny:Myth: Taxing Unrealized Gains is Fair Because Wealthy Individuals Use Unrealized Gains for Borrowing:Reality: While it's true that wealthy individuals can use the value of their assets as collateral for loans, this doesn't mean they've realized income. (IE: sold their asset for cash.) The value of the underlying assets can still fluctuate, and if the asset's value drops below the loan amount, the individual might still owe on the loan despite having no income from the asset. Taxing unrealized gains could lead to situations where individuals owe taxes on "income" they never actually received.Myth: It's Just Like Taxing Income or Profits:Reality: Taxing unrealized gains is fundamentally different from taxing income or realized profits because it's based on potential wealth, not actual wealth. This could lead to scenarios where individuals or entities are taxed on wealth that might never materialize if the asset's value decreases.Myth: This Will Only Affect the Ultra-Wealthy:Reality: While the proposal might target the ultra-wealthy, there are always unintended consequences when imposing any tax policy. This may result in an increase in sales of businesses, or a decrease. It could lead to people moving their money out of the country, or potentially people completely migrating out of the country. The consequences could be far-reaching and unintended, as seen in France and Norway. As always, please remember, these are never lectures. They are reminders to myself and I want to hear and learn from you. What do you think? Is this proposed policy a good idea? What did I get wrong? Please let me know so that I can improve. If you got value out of this, please do me a favor by sharing or subscribing. It means a lot to me. Year Of The Opposite - Travis Stoliker's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Year Of The Opposite - Travis Stoliker's Substack at www.yearoftheopposite.com/subscribe

Looking to maximize your home's value on Zillow? Getting the highest estimate isn't just about luck; it's about knowing how to play the game. 

Should you buy or rent? When will home prices go down? Where is housing most affordable? To get insight on these questions, Sofi's Head of Investment Strategy and Host Liz Thomas welcomes back Dr. Skylar Olsen, the Chief Economist at Zillow. Dr. Olsen discusses how supply shortages, high mortgage rates, and changing demographics are affecting not just home prices, but rental markets, and how the housing market is evolving in the post-pandemic years. The two talk regional variations, the impact of short-term rentals, and where things go from here. For more, read Liz's column every Thursday at On The Money by SoFi, sign up for the SoFi Daily Newsletter, and follow Liz on Twitter @LizThomasStrat. Notable mentions in the episode: (00:00) Introduction to The Important Part (00:31) Diving into the Housing Market (01:34) Interview with Dr. Skylar Olsen (02:22) Current Housing Market Trends (05:45) Impact of Mortgage Rates (19:22) Regional Housing Market Insights (24:26) The Role of Short-Term Rentals (28:10) Zillow's Market Heat Index and Zestimate (33:00) Lightning Round  (35:42) Key Takeaways and Conclusion Recommended reading: Local Housing Market Trends By Location First-Time Homebuyer Guide Your 2024 Guide to All Things Home Additional resources: SoFi Daily Podcast: 5-minute daily episodes covering the latest business, economic, and stock market news you need to start your day. The SoFi Daily Pod is available on Apple and Spotify, or wherever you get your podcasts. SoFi Daily Newsletter: Sign up for the SoFi Daily to receive the latest financial news in your inbox every day.  Investing 101 Center: At SoFi, we believe investing is for everyone — which is why we've created a hub with info for beginners and experts alike. Start exploring to get investment education, advice, resources, and more. Wealth Investing Guide: Information you need to know to make your money work harder for you. This podcast should be used for informational purposes only and not deemed as a recommendation. Our Automated investing is via SoFi Wealth LLC, and is a registered investment advisor. Our Active investing is via SoFi securities LLC, member FINRA/SIPC. For additional disclosures related to the SoFi Invest® platforms, please visit www. SoFi.com/Legal. ©2024 Social Finance, Inc. All Rights Reserved.

Zillow is arguably the most popular way to look at real estate from the palm of your hand but what do actual agents have to say about this app?  On today's episode Erin and Stacy share the good the bad and the ugly when it comes to this real estate tool.  And of course they dive into the thorn in every agents side…THE ZESTIMATE. Find out why agents don't trust the zestimate and more on today's B2B.  Today's episode is brought to you by Bill Payne NMLS ID#: 283298 with First Home Mortgage   Find Out More: https://www.billpaynemortgagebanker.com

In this episode, JD and Melissa explain how the Zestimate can be a useful tool for quickly evaluating properties despite its reputation for inaccuracy. By leveraging the Zestimate alongside other tools and knowledge, investors and homebuyers can better understand a property's potential value! Stay tuned!   Here's what to expect on the podcast: How the Zestimate works and its limitations. How do JD and Melissa use Zillow Zestimates in their company? In what ways might Zillow Zestimates impact negotiations between buyers and sellers during real estate transactions? Leveraging Zillow for marketing and visibility. And much more! Connect with JD and Melissa! Website: https://therealestatejam.com/  Facebook: https://www.facebook.com/therealestatejam/  Instagram: https://www.instagram.com/therealestatejam/  YouTube: https://www.youtube.com/channel/UCa_CWAV1OvH81yp6fITB4lg Shorefront Investments: https://shorefront-investments.com/  Email: therealestatejam@gmail.com Are you interested in Coaching? Set up a Call with JD: https://mailchi.mp/458f1b418e9e/invest-with-jd.  

This Flashback Friday is from episode 842 published last Jun 12, 2017. Client and fellow podcaster, Elisabeth Embry joins Jason to discuss the importance of coming to the live events, finding the true value of your properties and what happens when interest rates rise and inventories are low. The upcoming Venture Alliance and Oklahoma City Property Tour and Jason Hartman University Live events are a great way to meet like-minded people who are income property investors. You can share your creative ideas with Jason or any of the investment counselors at these events and there are tried and true professionals who share their real life experience on the panels. Go to JasonHartman.com/Events and sign up today. Key Takeaways: 3:26 In a booming real estate market nobody is making money if they don't have any inventory to sell. 7:01 The quality of properties lowers when property inventories are limited. 9:57 Puerto Rico, are the tax breaks worth the risk? 16:30 Zillow could be getting sued for their Zestimates. 23:40 A Trulia article states houses haven't reached the pre-recession peak. 27:40 To see properties that make sense come to the Oklahoma Property Tour and Jason Hartman University Live Event. 30:45 Will there be three rate hikes by the Federal Reserve in 2017? 35:48 Sarbanes-Oxley had very little effect on Wells Fargo thievery. 40:49 If you are a Jason Hartman client and want to contribute to a mutual project or goal contact your investment counselor. Mentioned in this episode: Renter's Warehouse - Get 3 free months of property management with this link. Jason Hartman Venture Alliance Mastermind Hartman Education The Jetsetter Show Women Investing Network   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Way back in the early 2000's, everyone in the mortgage company panicked when a single company decided they would go all in and become the first online mortgage company. It didn't take long for professionals to figure out how archaic the system was and today, going online for any part of your home buying experience is just part of the process. Now AI is making its big debut in real estate as Zillow announces it will utilize AI in the products for both consumers and professionals. Looking to go beyond the Zestimate, Zillow plans to dive deeper into the home buying process by providing buyers with personalized home recommendations and acting like an assistant in negotiations. Today Joe Cucchiara and Jack Russo look at the future of real estate through our computers.     To learn more, simply visit www.RERadioLive.com. All the information in this podcast is broadcast in good faith and for general information purpose only. We do not make any warranties about the completeness, reliability and accuracy of this information. Any action you take upon the information on our website is strictly at your own risk.  We will not be liable for any losses and damages in connection with the use of associated information. www.reradiolive.com All Rights Reserved. Copyright 2015. Joe Cucchiara MLO 273084 This is not a commitment to lend. Our team fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/.

Join us for a game-changing episode on overcoming real estate appraisal challenges! Emily, Debbie, and Derek spill secrets on handling low appraisals, from negotiating with buyers to exploring seller financing and second appraisals. Learn how to navigate Zillow's 'Zestimates' myths and discover the true value of proper appraisals. Don't face home-buying hurdles alone – tune in for insights that'll transform your approach to real estate transactions!

Guest: Spencer Rascoff, co-founder and former CEO of Zillow + co-founder and general partner at 75 & Sunny When terrorists attacked the US on 9/11, Hotwire co-founder Spencer Rascoff and his colleagues had to put their own trauma aside and “spring into action” — the travel site had sold tens of millions of dollars' worth of non-refundable flights and hotel rooms and customers who wouldn't be traveling wanted their money back. Now a visiting professor at Harvard Business School, Spencer teaches this case to his students because this dilemma was not unique to 2001: “What the hell do you do when you're running a company ... and all of a sudden, a pandemic happens? Or SVB shuts down?”In this episode, Spencer and Joubin discuss Zestimates, context switching, Tom Brady, reinvention, Shaq, the live music business, beating pain, personal connection to tragedies, the structure of rounds, Juul, the qualities of success, Stewart Butterfield, Travis Kalanick, second homes, two-way doors, overstating risk, “Dad, I Have a Question,” management by walking around, and Carl Eschenbach.In this episode, we cover: Spencer's post-Zillow life (00:57) From player to coach (03:47) “The Forrest Gump of technology” (08:21) Joseph Rascoff and the Rolling Stones (10:56) Teaching grit to kids (14:43) Spencer's brother (18:55) Channeling pain into achievement (21:35) Co-founding Hotwire (24:37) The impact of 9/11 (27:51) Re-capitalization and selling to Expedia (35:17) “Let's build a real estate website” (38:05) Office Hours and founder-product fit (45:12) How Pacaso works (53:22) Career mirrors and leaving big companies (57:01) Staying organized (01:04:20) Dinner with the family (01:07:43) What “grit” means to him (01:09:14) Links: Connect with Spencer Twitter LinkedIn Connect with Joubin Twitter LinkedIn Email: grit@kleinerperkins.com  Learn more about Kleiner Perkins This episode was edited by Eric Johnson from LightningPod.fm

CONGRATULATIONS! We're millennials. That means EVERYTHING about being alive is expensive. And the boomers have so generously gifted us with least affordable housing in the history of the world along with:- Inflation.- Student loan debt. - Expensive medical insurance that doesn't cover our therapy bills.- Randall Cunningham (to which we are very grateful. Go birds.)- And likely very vague wills leaving us to pay for them well after they're gone.Don't worry. Seth and Jenn can help. We're Philly-based millennials and top-producing realtors. Ok—admittedly Seth's a borderline GenX'er—but he was in the trenches of dial-up internet with us. And he's really good at getting down payment assistance money from parents who we didn't think would be giving down payment assistance, so we'll let it slide.We're here to call BS on all the myths and bad real estate advice floating around like what you just heard from the 22-year-old TikTok investment guru who stops your scroll for way longer than you'd like to admit, or some article that was clearly written with some off-brand version of ChatGPT. No. It doesn't matter to the buyer that the Zestimate is $485k. The Seth-stimate is $430k. And one of these is still successfully servicing home sales and the other is not…I'm just saying. We'll talk about all the things millennials need to know. Like how to find money in life's couch cushions.What you should be doing now if you want to get into the market as a first-time home buyer. How to size up into a place that actually fits your life even if you're sitting on a 2.9% rate. What all the puzzle pieces are, and how they fit together. Why Jenn does so much Boomer bashing even though she says she's not that into it.And it's all lightly salted with some Phillies, Flyers, Sixers, and Eagles enthusiasm.Check it out. I mean—it can't hurt.

Ever wondered why Zillow's estimates might not always deliver the whole picture when pricing a property for sale? We're taking a deep dive into this question in our latest Real Estate Scripts Podcast. We're unveiling the secret behind Zillow's algorithms, revealing how they might overlook unique features of a property, and why local expertise can make all the difference in setting a competitive listing price. We role play a conversation to demonstrate how to build trust and educate buyers about the limitations of these estimates.Imagine having an online tool for home valuation and treating it like the holy grail. Sounds great, right? But wait, there's a catch! Relying solely on Zillow's estimates could be a strategy full of pitfalls. In our discussion, we'll deconstruct Zillow's algorithm and the importance of a Comparative Market Analysis (CMA) in accurately assessing the value of a home. Let us guide you through the process and show you why local knowledge is essential in maximizing profit when selling a property.Have you ever questioned the accuracy of Zillow's Zestimate and other online valuation tools? We're here to tell you that you're not alone. Algorithms can sometimes produce inaccurate estimates and it's crucial to verify this data with reliable resources. Together, we'll explore the necessity of local expertise in property sales and how it can contribute to a successful and profitJoin us on this exciting journey through the world of Real Estate Scripts. We're all about embracing the learning process and growing together. If you've enjoyed our podcast, consider leaving a five-star review to support us in reaching even more listeners. Interested in practicing with us and being part of the show? Explore a 30-day free trial at realestatescriptspractice.com and become a contributor to our community. Thanks for being a part of this fantastic journey!Real Estate Education with The CE Shop The CE Shop offers online real estate licensing and continuing education for real estate agents.Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.Support the showJoin Us Online Website: https://realestatescriptspractice.com/ Join Free on Slack: https://realestatescriptspractice.com/slack Facebook: https://www.facebook.com/groups/realestatescriptspodcast/ Apple: https://realestatescriptspractice.com/apple-podcast Spotify: https://realestatescriptspractice.com/spotify Licensing and Continued Education The CE Shop: https://realestatescriptspractice.com/ceshop ------------This podcast is for the purpose of education only and it does not make any guarantees. We suggest you seek the help and/or advise from your broker, coach, mentor, office manager, attorney and/or financial advisor. Brought to you by Darren Tunstall, a licensed real estate agent , DRE #01853445. This podcast is independent of Darrens affiliation with Keller Williams Realty and any REALTOR® associations. The goal is to provide you with valuable information, insights and practical tools.Music by ...

Dive into this episode with our special guest, Jeremy Beland, who ventured into the world of wholesaling real estate and transformed his life. Starting with absolutely zero experience, Jeremy made a quick $5,000 on his first deal. Today, after closing over 350 deals, he averages an impressive $35,000 per transaction. Wholesaling real estate is a way to escape the 9-5 grind and build a cash machine, even if you don't have tons of money upfront. Jeremy shares his invaluable insights, including how being authentic can help you clinch deals, the importance of understanding the seller's distress, and the power of belief that pushes you to secure that first deal. If you're looking for inspiration to quit your mundane job and carve a path to financial freedom, this episode is your roadmap. David's Social: @dlecko https://www.dealmachine.com/pod Ryan's Social: @heritage_home_investments https://www.heritagehomeinvestments.com/Jeremy's Social: @jeremybeland

Ready for a glimpse into the future? Today, we're painting a picture of what's coming to Las Vegas - the Spaceport Resort, a marvel of modern technology that will take you on a zero-gravity simulation ride and the fastest motorsport journey on the planet! This isn't just thrilling for adventurers; it's creating waves in the housing market too. Especially in Perump - a location on the cusp of becoming a real estate hotspot. From Walmart to Lowe's, big-box stores are setting up shop, and housing projects are sprouting up, making it a promising alternative for those seeking a home in the Las Vegas area.But hold on, buying or selling a home isn't just about locating a buzzing marketplace. It's more than just shiny renovations and upgrades. We highlight why it's vital to dodge the trap of Zestimates and the importance of price adjustment. Hear us out as we stress the necessity of professional advice and a thorough Comparative Market Analysis (CMA). Learn why those home upgrades might not necessarily rake in the bucks you hoped for, and why the right pricing strategy, one that's flexible and aligned with the current market, could be your golden ticket to attracting more buyers. Strap in for an enlightening journey through the nuances of the Las Vegas real estate market!Support the showWelcome to Vegas Realty Check, the informative podcast that dives deep into the world of Las Vegas real estate. Join us as we unravel the unique Las Vegas market and help you determining the best time to sell your home in this vibrant city. Our expert hosts break down the complexities of the ever-changing Las Vegas property market, analyze market trends, economic indicators, and unique property features to provide you with valuable insights on timing your home sale or purchase. Don't miss out on the fun! New episodes drop every Thursday! Stay in the know about Las Vegas real estate with insights straight from the pros . Get the scoop on local housing and community happenings . Thanks for watching, listening, and sharing! If you LOVE our content , Please subscribe to our show here https://www.buzzsprout.com/1428685/support Send Listener Questions to : VegasRealtyCheck@gmail.comAccess All Episodes at RealtyCheck.VegasWatch Live on Facebook Thursdays @9:30am PST https://www.facebook.com/VegasRealtyCheckHost Info:Trish Williams Keller Williams The Marketplace

On today's episode, we play a game of "Don't get me started." Following that, we discuss AI's place in the real estate industry, our thoughts on Zestimates and RedFin Estimates and then review what Chat GPT thinks are the top tips for sellers.

Market Proof Marketing · Ep 302: The Measure of SuccessIn this episode, Kevin Oakly, Andrew Peek and Jen Barkan! The team is currently participating in fantasy football and Jen shares her stats so far. Together, they consider how to measure the success of an ad if it doesn't become a lead and talk about how everything is hanging on interest rates right now. Spicy Kevin makes several appearances and keeps the conversation interesting!Story Time (06:34)Andrew is trying to figure out how you measure the success of a phone call or ad if it doesn't end up becoming a lead? Or can it be considered successful at all?Jen's daughter is going through the vet school application process and it's made her compare that process to people applying for The Nationals this year.Kevin says that managers and senior leaders who have zero desire to unpack why things are working are insecure in their own ability with what would be revealed. News (31:26)New sustainability tools help businesses and cities map environmental information (https://blog-google.cdn.ampproject.org/c/s/blog.google/products/maps/google-maps-apis-environment-sustainability/amp/)In Its First Monopoly Trial of Modern Internet Era, U.S. Sets Sights on Google (https://dnyuz.com/2023/09/06/in-its-first-monopoly-trial-of-modern-internet-era-u-s-sets-sights-on-google/)Mortgage demand drops to 27-year low as interest rates pull back (https://www.cnbc.com/2023/09/06/mortgage-demand-drops-to-27-year-low-as-interest-rates-pull-back.html)ONE+ By Rocket Mortgage® Is A 1% Down Payment Option (https://www.rocketmortgage.com/learn/one-plus?qls=QNS_20180523.0123456789)Favorites/Hates (59:50)Andrew watched a documentary film called “The Wild and Wonderful Whites of West Virginia” on Amazon. Jen loves that college football is back!Kevin's favorite is a sports jacket and a youtube video by Kyla Scanlon: https://www.youtube.com/watch?v=fdBSaG2cujM Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities can be found at Do You Convert All Access or on the Market Proof Marketing Facebook group.Subscribe on iTunesFollow on SpotifyListen On StitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, Jackie Lipinski, Julie Jarnagin, and other team members from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you!Transcript:KevinJen do you know who you want to trade?JenWell, I tried to pull one over on Jackie Lipinski and tried to get Justin Jefferson from her, as if she didn't know who that was. But I did. I did try to offer her a couple of really good legit players, but she denied me.KevinOh.JenYes, I have not.KevinYou're a fantasy football professional, so can you talk right now who's like, if you had to call it right now, who has the best team? Do you think?JenUm, I mean, Jackie has a pretty good team. Mike has a pretty good team. I have a pretty decent team. I mean, I'm really not a professional. I just like to pretend that I know what you want.KevinRight. You won that unicorn trophy.AndrewIt's great.JenYeah, I won.AndrewIt's gold.JenI won once. Yes, but it's really just. It's really just luck. Plus, the way that we do it, guys, is this auto draft. So it's not even like you, you just, just auto automatically picks your players. You don't really have any say in what's.AndrewGoing to have the winners decided with the auto draft.JenSort of yeah.AndrewWell if you don't like such a.JenLineup it says projected standings with Mike Ryan and first place.AndrewSo happens every year somehow.JenTrying to.KevinRAZ Even though he's the commissioner right? Yeah.JenYeah. Like Jalen hurts or your quarterback.KevinLet's see. Here's here's what makes me mad is I had to make myself like math again. Like I failed the honors pre-calculus. And I took it twice. And then I never had to take math again. And I was like, I'm never. I chose a different like, I was like, I'm going to go Bachelor of Arts and a Bachelor of Science because I'm not taking anything close to math.KevinAnd then I had to make myself like math when I became a marketer, became important. Yeah. So it drives me nuts. Like I'm going up against Lipinski and it says projected score of 124 and a half for me, this is 122 and a half for her. Okay. How is it possible that what's going to happen is going to happen?KevinI'm going to get 65 and she's going to have 172. I mean, that's just gambling. That's just randomness.JenThey're just taking average projections. But what happens is somebody could get hurt. They might not even play. Hey, I mean, like, you never know.KevinI just think if we have, you know, I that can take us to Mars and back. Can it give us better projections at this? Like, come on, ESPN, get some GPUs fired up And.JenThen but there is.KevinMachine learning.AndrewHuman.JenTo human factor.AndrewAre reliable, unreliable.JenHuman factor.KevinBut they're all being paid off to like take a fall and stuff anyway. Right. Like it's it's all statistically for sure. Oh, it's all over.AndrewIf there is no drama in the game, no.JenOne wants to think.AndrewIt's like people think all the housewife shows are real. Like if there's no drama, there'd be no show. It's all manufactured.KevinI just think it should show around. You should be like, Here's. Here's that. Every year I am like, okay, I'll give Fantasy another shot. And then after the first two or three weeks of the same thing happening every time, or it's like I should have 180 points and I get 30.JenLike, there's no no, you just have to make sure that your players don't have a bye.KevinI don't. I do believe that never happens the first two or three weeks before I get.JenOkay.KevinSo that's why I was wondering, besides you and Mike, who is most likely to win so I can just trade them my best players now.JenBut now you're playing that game we're not in. Oh, man.AndrewI just opted out this year because now we have enough people. I do convert, you know, I don't feel like I'm like.JenNo pressure.AndrewNo pressure because I was not adding to it. I would I would set my thing, but I was just like, Oh, there's another person playing. I don't watch football. I watched some college football, but professional. But they said on.JenUsually guys, I went to the Virginia Tech Old Dominion game this past weekend. It was freaking electric. I was pretty sure Old Dominion was going to get pummeled, but they played pretty good. You know, that's my alma mater.AndrewSince that's where you went.JenThat's where I went to school, right? I'm a die hard fan. I go, Every time you have a home game, I'm there. But when they started playing Enter Sandman at the beginning, I mean, it was like it. In fact, they when everybody's jumping like that, it registers on the text size. Yeah, my grandma, I don't know what the type, but I registers as an earthquake.JenIt was crazy. Like, I was like, almost. I was so overcome with emotion. I was, I was like, it's not even I mean, look, I pay Virginia Tech a lot of money because my child goes there. So I like either way, whoever won it was fine. But I was like, Oh my gosh. Like, I brought me back to Meredith Oliver's fanatical selling and like, we have to our customers need to be fans of, you know, our our business and our brand and our company.JenAnd yeah, I mean, it was it was a thing, man. I was like, I'm all in on these Hokies.AndrewSo you can't replace you cannot replace humans, I guess is what it is.KevinYeah. It's not human to happening this year, but sometimes soon I'm going to have to get my kids to the summit just for like the first 30 minutes and then tell them to leave, because I think that's the only atmosphere that work. And I understand like, Oh, okay, Dad, you do you do real work outside of just talking to your computer upstairs.AndrewOr they might be like, wait, So you go on stage and talk for like a couple of minutes and all these people give you give you money, they listen to you. I don't know. That sounds like a scam. I feel like that's what you promise.KevinNo more sports talk for the rest of the podcast.AndrewNo more sports.KevinLet's start. Walk on to marketers marketing the podcast from the industry leaders. How do you convert where we talk about the current and future state of marketing and online sales for builders and developers across the globe? We're not here to sell you. We're here to help you and to try and elevate the conversation. Is there a topic you'd like us to cover or a question you'd like us to answer?KevinWe'll do it. Simply send an email to show at. Do you convert? Dot com. Welcome to episode 302. I'm Kevin. Okay. And with me today is Andrew Peek and Jen Barkin.AndrewWe're here. It's so exciting.KevinIt's a chat. Are we allowed to announce what's happening?JenOh, my gosh. What's happening?KevinSee, the thing that you're doing?JenAm I doing.KevinFast with the ends with podcast? Oh, are you kidding me? Talking about that? And we're not talking.JenAbout that yet.KevinOkay, we'll talk about it.AndrewI think you just talked about it like it's like, what do you know?KevinWe didn't.JenWe are pretty sure you didn't mind people talking.KevinOh, all right. Well, that's funny. What do you got?AndrewOh, what I got This is a fun question. And I talked about yesterday and this morning, so my. Oh, this could be open discussion. Maybe we make it a parallel to the online sales world. But at the same time, how do you measure a successful ad or how do you measure a successful phone call if it doesn't end up with a lead or an appointment?AndrewCan it still be successful? It's kind of like a gay like principle or like theory. Question This is like the long essay question at the end of an SAT. I don't know if they still do that or not. It's been quite a few years, so sort of open ended discussion. So let's talk about this with Beth, a coach convert and Bryce, a marketing strategist.AndrewAnd it really went down to this rabbit hole of like, oh, you kind of need to be rooted in some type of principles before you decide what is success or not success, because it could be like, Hey, it's really efficient. Was that successful or not? We need every single click out there. Like maybe that's actually the opposite. It's unsuccessful or maybe a very, very limited budget.AndrewSo having a really low or very efficient cost per click is success. Or maybe it's a coming soon community. You need as many leads as you can and you just need to spend as much as can. It doesn't matter what the cost per lead is because the urgency of more leads is significantly more important than trying to save some of the marketing budget.AndrewSo I kind of just gave the answer. It really depends. It really depends. There's no there's no good.JenAnswer, but the right answer as to your.KevinQuestion, it's a hard question. Salespeople leads.AndrewWell, that's it's online sales. People talk.JenAnd I was going to say I was going to say I don't know what the right answer is, but I would think it would be a good ad, would get leads and appointments and sales.AndrewYeah, sounds good to me.KevinYou know. Yeah.JenIf it's a it's.KevinIt's you know, I other maybe maybe land I don't know of a longer purchase cycle for most people to deal with and then homes.AndrewYeah.KevinMaybe mega yachts or airplanes I mean but like if you're shopping for an airplane, is that comparable to shopping for a car? I don't know. Like.AndrewYeah, yeah, yeah. Boats, boats and car boats and there's lots of personalized ocean.KevinLike I've seen lots of visualization tools for customizing your own private jet. Being advertised is like the new way to sell expensive stuff to people.JenI mean, ads are the need though just that really any.KevinWell right but I mean is like the number of decisions and trade offs to consider and you know but at that that's just what makes it all more complicated and.AndrewVery complicated. It's a hard question. Like it's well, it's I think it's.KevinIt's it's the question in advertising. But for us, it's important. Remember that there are multiple parts of the funnel. Different ads serve different purposes for different customers in different stages. You know, you can't I think about this way if you think about a pie pizza and everyone inside of that pie, it doesn't matter if you spend $2 million or $2,000 a month on search, if it's only within that pie, there is always a tradeoff of like if you spend all $2 million and the pie doesn't expand and it's not really pie, it's Rubik's Cube because it's like seven dimensional.KevinBut you you can't have any one tactic that you can just never max out.JenNow.KevinNot just in terms of I guess what I'm trying to convey is it's not just that the ads will get more expensive, but it will not raise the number of people that it reaches if it's defined by a certain radius or shape or audience already and so can't.AndrewYeah, we can't really create a market sort of.KevinWell, yes, but I guess my point is each channel is by definition we don't think about this way. It's own market. Like only the people who are searching can be reached by search marketing. It makes sense. Yeah. If people who aren't searching or they're not searching at every moment of their decision making process. Right.JenAnd so if they're searching, we want to capture them with your.KevinYeah, if they are search, you want to capture them. But you also have to realize that every every line goes back to Steve Schumacher's joke, which you repeat all the time, is if you've got five different things that are viable reasons why someone ends up being a purchaser or they have a realtor, they're referred by a friend, they saw you on a social ad, they did a search, they went on an event and then they purchase who gets credit.KevinBut it's just the acknowledgment that you have to have that every customer becomes a member of multiple channels, advertising channels all the time. And so, like there is this well-rounded ness that I don't think I understood early in my career that now that everyone's I mean, it's everyone's I'm data driven, dated or data driven, and it's like that curve that we get a name Dunning, Kruger data or whatever.AndrewGreater than.KevinFeeling data over.AndrewThat data.KevinYeah, but I would say to your point, what's the word you used to start with a piece that we need.AndrewPeople we.KevinKnow we need. Well, anyway, it's a good ad we need. We need what?AndrewBefore to me is as context we need I don't even know. I don't know where it's just come out my mouth is what usually happens.JenIt's a struggle and.AndrewEventually it forms a sentence that makes sense.KevinYeah, but anyway, the whole world has gone so over onto the data side that for sure there is a serious lack of around principles of thinking principle.AndrewThat we have principles.KevinHere that we will.AndrewLive by principles. That's what we need and building principles come from.KevinThis is the LinkedIn post that I made a little while ago. The principles come from having an ultra deep understanding of what your consumer's experiencing and doing and thinking That's not defined by just asking them, What are you doing? What are you thinking? Because they can't, they can't articulate. They do what's called preference falsification, where they just say what they feel like they're supposed to say to appear good.KevinAnd so you have to have that deep understanding. Just know like, well, of course they're doing these other things. And I don't actually I need data to continually prove to me that they're doing that because I'm constantly watching consumers do what they do and interacting with them and talking to them anyway.AndrewYeah, it's a loaded question. Yeah, we talked about it probably like an hour and a half until yesterday and today. Beth and Bryce. Well, not that single question, but it was a series of question. Yeah, from a very intelligent builder partner of ours. And it was like, Oh, this is actually like, this gets deep. Like you can't that's not a surface level question.AndrewIt's not like, Hey, just check on that. Click the rate, the CPC and conversion rate, and it is your answer because you could have amazing conversion rate.KevinAnd I think.AndrewI just asked.KevinMy sister, here's our episode and she doesn't listen anyway, but she's a CMO now at a at a university, I guess. I mean, sorry, Kristen, but, you know, remember all those bad things she did to me when I was a kid? There's no payback. She she read like a Harvard Business Review magazine article and then, you know, reached out to me and was like, how do I get my team to do this?KevinLike, I read this in an article and it's like, I mean, okay. But I think that's where our prints were. The principles come from Your principles either come from just things you like, observed from afar, or someone else just told you that's a terrible way to develop or principle you can shortcut by getting a coach right? Jenn My coaches help you shortcut to the best principles, but if you're going to your coach and you're like, Hey, I think maybe we should do, you know, squats this way.KevinAndrew Instead of this other way. Why I someone on TikTok said so you're like, Well, I've been in a couple competition. Like, that's, that's not good, right? So I think that's, that's where the friction comes from, is people who have strong principles without strong experience of testing those principles. They just decided it were good principles. Like that's and I it's just important for me to articulate, I guess, to everyone else.KevinAnd our principles don't come from our feelings. Back to your T-shirt. Andrew Yeah, the principles come from the data, but the data combined with experience and observation, not just data on its own. Yeah.AndrewAnd then kind of testing against those principles reinforces the.JenPrinciple, the direction this conversation was going about ads, successful ads.KevinThere. Again.AndrewI think moving it towards online sales world is like a principle on a phone call. Here's the intent of this.JenSo this this kind of plays into yeah, let's just just well, it just plays into the whole coaching and being coachable and wanting to do things the right way and the like. You said, the experience that like our coaching team, do you convert as like thousands upon thousands of hours in the seat. But, but then also coaching and training, I mean, just thousands.JenI don't even know what that might be.KevinHundreds of years. I think if you add up the whole. Yes.JenYeah, hundreds of years. And so it's like when we are speaking from like experience and relevance in the market because we work with, you know, over a couple of hundred online sales specials a month. So we know like what's happening in real time. It's a few, it's like this is yeah, like this is we're not this is not just, are we?JenWe're not is like pulling this out of thin air. What we think like this is what we know, you know, because of what we see on a daily basis. So and you got to be coachable. You got to be open to listening and learning. And I was actually on a podcast yesterday with the homes for Hope program. Yeah, it's awesome.JenDerek And he asked me something came up about coach ability and I was like, Yeah, you know, as a coach you can, you can be like, we're totally invested in that online sales specialist, right? But they have to be invested back in us. We can train, we can coach, we can lead them to the water. We can't make them drink.JenIt can't make them do that. They got to be invested back. And so, yeah.KevinThat's well, and I'm going to get I mean, you use a spice emoji so I'm, I don't know if you've chilled out since then, but I'm going to bring some spice back. So I feel, I think it's not the right word. I don't want use that word. There are absolutely managers and senior leaders out there who have zero desire to unpack why things work are working, and that it seems to be my hunch would be my hunch would be managers told me my wife, that I should never use that word.KevinDo people not use the word hunch anymore?JenI just know. Yeah, I use that hunch.KevinOkay. She's like, when you use that word, stop it.AndrewIs it like, quote, a word? I don't know if like that. That phrase.JenLike moist.KevinYou know, my hunch is that they are insecure in their own ability with whatever it is that would be unpacked.JenAbsolutely.KevinAnd that leads them to be like, nope, don't want to like results are good, don't care about. And I'll give you the tangible example here. There is a builder we were speaking with who it looked like the online salesperson was averaging like 30 to 40 leads a month for the last six months. Okay. And we were on a quarterly leadership call and our online sales coach, working with that person has been talking about things a certain way based upon an understanding that that lead volume, by the way, that lead volume is given by the LSC in the reporting that we use, it comes from the CRM, but he's always have the availability to make sureKevinthe numbers are accurate and consistent. So our leadership and the leadership sales manager, VP of Sales Marketing is like, Oh no, no, no. That only gets like way more than that. We're talking like a hundred plus more leads a month than what that is showing. But it's in this other system that doesn't talk to our CRM and, and I was like, well, that's why for about an issue, I don't know, two years we've recommended to stop using that thing and sorry the answer came back was but it's working really well for us.KevinLike how do you know?JenDo you know.KevinBecause you're your online salesperson doesn't know. Apparently because they don't, they don't count those things. There's no tracking of of how those people are followed up with. And what it boils down to is it's just someone who's highly uncomfortable with the use of technology themselves, someone somewhere told them or whatever, like this is a good thing to use and things are going fine enough, but that's just a that's a huge blind spot that is going to cause massive panic at some point that could be avoided if you just.JenHear.KevinMore about how you how you got to that end result.JenThere is definitely a.KevinKnow.JenYou know, listen online sales contribution is so high. I mean, 45 to 50%.KevinOf.JenSales are coming from this program. But there's still this disconnect of the resources, the support, the time spent understanding, learning the tools, the systems, the reporting.KevinFor this role.JenAnd so there's a lot of like just wild, Wild West happening out there with some of the online sales specialist because there's management is not is not getting in there and taking the time to understand it's it's like you said, Kevin, maybe a lack of understanding or technology but there's also bandwidth issues to feel like everybody is spread so thin and when push comes to shove, we need sales to keep everything running, right?JenSo I'm going to take my efforts and focus on the the sale, the end of the funnel here. But really, we're not going to get sales unless we have a point difference. And if we don't have a point, we got to manage it. So it's really the shift perspective that needs to happen. And I was talking with somebody earlier today that there's still there's still broken parts of the CRM, there's still broken parts of how the leads are managed and things like that.JenAnd it's like, Hey, we've been talking about this for like a year that's still broken.KevinLike, isn't that funny? Like serums As a broader topic, I feel like, you know, there was a time where it was like, are you using Outlook Express or Outlook or like, what's your email client? I haven't heard maybe once in the last two years someone talk about email or questions are around email and how to write their own email client, right?KevinMm hmm. Why the heck aren't serums the same way? It's 2023.Andrew2023. That would stress me out like I won Lead, lost or won. Lee That you lose. I'm like, that could be X amount of profit from one sale of the home that they just ignore that to someone else.KevinAgain.AndrewAnd that just like.KevinAll this.AndrewThat makes me feel.KevinOlder. We're on the call and I'm looking through their CRM system and there were months at a time where not a single prospect was ever entered into the CRM by the onsite sales team. That's like millions more months in a row, not a single lead.AndrewMy that could have been like, that's like, I get weird. I'm like, we could it's like they could have just like, paid someone to pay the whole company notification.JenI mean.AndrewAnywhere.KevinThey were always the lost revenue or. Ms..JenMs. Yeah. Or, you know, just looking at even when we could go on and on about this. I mean, you just looking at like, you know, average appointment to sale number right now is 21%. That's a, that's, that's strong 21%. Right. The average walk in traffic conversion is historically like 10 to 12%. Right. So we go, okay, we're still 21%, like one out of five keep appointments are going to write a contract, but we're still not focusing on that.JenDuring the handoff or making sure that this connection with on site and online is at the forefront of our training and our our discussions. I had some math this episode is all about now. I did some math on Friday where they're right, right now they're at 11% conversion of appointment to sale. And I'm like, if you did these four steps and you were able to increase your conversion to 21%, that's an additional $19 million of revenue.JenYeah, sales revenue, 19 million, 50 million, which equated to like an additional because we did this math in front of the sales team, that's an additional 400 and something thousand dollars in commission or whatever. That's like being left on the table as like when you put it in that perspective, like, well, oh, you know, like just, you know, like these.JenAnd again, this goes back to what we were just talking about, Like we're not just coming up with like, yeah, we think you should do it this way. Like, we know this works. We have the data to support it. We have the conversion metrics to show that this is what the averages are.KevinOkay, What do you think.JenThese four things.KevinOne more thing. Let's just say just for fun.AndrewOkay, fancy.KevinBecause no one else is listening. Right? Lower left lead to employment ratio. Yeah. Is currently.AndrewCan brighten 18.KevinPercent and our and our average benchmark currently is.Jen40.Kevin40. Okay lead to of women.JenWill get to women. Yeah.KevinMy favorite is when the person who has an 18% lead to appointment currently is again the one suggesting that they have found a better way something comes out. I mean and this is where this is where our approaches differ because we're all different humans that do convert, as I'm kind of like I mean, I'm going to explain to you why there's that.KevinThat's a bad idea. But you don't I would say to everyone, like, you don't pay me enough to make your decision for you. So, I mean, try it for a week or two, but not longer because you can't afford to go to five. Like 18 is bad enough. Let's get you to 35 with these proven things right first.KevinOh, yeah.JenYeah. Now, I just say that.KevinJohn, about that school application, I.JenOh, man, I feel like I you go back to school just by now. You know, I did apply to vet school and I if you guys knew that I did at one time want to be a veterinarian.AndrewSent a telegram I.KevinThink like, yes.JenI didn't get in. There's only 30 vet schools in the world.KevinOhio State is one of the best I hear like, yes, there goes a.AndrewLot of things.JenMy daughter is in her senior year, Virginia Tech, and is going through the vet school application process right now. She's applying and like I think 15 schools out of the 30. Oh oh yeah.KevinIs she going to live here or something?JenI so I said if you if you get into Ohio State you can go to Kevin's for dinner. So you know he'll take care of things every sale, you know, they'll feed you, make sure you're okay. But as she's going through this, you know, she's super stressed out. She's having to, like, go back through the last ten years of her life and basically and think about all these things and these prompts.JenIt's like, what's the defining moment of when you wanted to be a veterinarian, Right? So she's having to go through this. And I said.AndrewThese questions are terrible.JenWell, and listen, the vet schools, they only accept it's like the hardest one of the hardest things to get into. They only accept like a 100 out of thousands and thousands of applications. Wow. So I'm like, you've got to do something in this essay to make like to stand out. Like the first sentence has got to be some catchy thing, you know?JenBut it made me think about a couple a different think it's a one. If you are thinking about applying to the Nationals, you should because it's a great way to go through and like you go back into the archives, you just document all of this awesome stuff that you've done in your career and put it on paper. And if you're thinking about doing it, you should go for it.JenBut also make sure you tell this, tell a story that is what is going to help you stand out All in all of those applications that come in. So tell a story, be specific how you overcame something or whatever. But also maybe think about like when we're communicating with our customers and we're sending follow up and we're sending and we're leaving phone messages and we're communicating like you got a you got to spice it up a little bit.JenLike you got to be personal. You got to you got to put something in the subject line that's going to break through the clutter. It's going to make you stand out instead of touching base, checking in. How's it going? Because people's inboxes are inundated, like and they just get so many, you know, especially if if they're looking at your builder, they're looking at ten other builders that are all sending emails that are all sitting to these letters of.KevinWe are.JenAll doing all the things.KevinWe have.JenWe hope. We think, who knows? But you've got us. We've got to break through the digital pollution, right, and cut through the clutter. So that's good luck to Mia. Little Mia.KevinShe's like, Our.JenLocations are due September 18th.AndrewSo 15 of them, But I'd be paying someone to do that, I think.JenYeah, Yeah. That's what I would like to donate to the MIA application fund. But you've got to, like, pay like zillion dollars for all these different applications. So I'm really excited for. So put out some deposit invites.AndrewTo the universe.JenYes.KevinTo see what's her favorite animal is a dogs.JenYes. She's actually doing the research study on cows right now. So she gets to go hang out with cows and draw blood and do little like feeds. She had to, like, pile up on a big, like, green machine and, like, feed them. And I don't know, she's she likes horses, too. She's done some stuff with the horses, but mainly small animals.KevinNot a horse fan. Human kryptonite, those things.JenYou're not a horse.KevinThey can be really good. Yeah. It's not safe. Yeah, that'll.JenOh, they're so beautiful too.AndrewAbout, like, the miniature horses. Those are fun.KevinLittle tiny, maybe. Yeah. Yeah.AndrewWas just to see.KevinWhat would you rather be? Fight one giant hundred foot horse or 101 foot tiny horses?AndrewIt's like running around a little baby horses.KevinSorry, everyone. I'm in some kind of strange, strange minute here. On to the news multiverse.AndrewThis is Earth four.JenHey, online sales specialist, your D convert, Coach Jen Barkin here. Are you looking for guidance, structure and proven methods to help you set more appointments and create more sales? Then join online sales coach Jesse Suggs and myself. We are offering an intense two day virtual training experience, followed by eight weeks of training and coaching through our online sales academy.JenThis fall. Jesse and I have been in your shoes and we teach from our direct experience and years of coaching online sales specialists. Just like you. This will be hands on and real world no theory here. If you're interested, don't miss this incredible opportunity to reserve your spot today by visiting. Do you convert dot.com.KevinMan first up from D and Y use as I stand for, I need to know the news. The news. It's like.AndrewOkay, so two syllables that has generated.KevinThis one wasn't me.AndrewHow about this?KevinSo we're we're using the link and its first monopoly trial of modern Internet era. The US sets its sights on Google. So for those of you old enough to remember, I think the last big Monopoly trial breakup that happened was AT&T.; That was then split up into seven different regional companies in 1984, the article says. But effectively, the United States government is saying that Google is preventing any new opportunity for search to occur.KevinGoogle basically does what Facebook did back in the day. It was like any popular social app. We'll just go out and buy them. I mean, if you guys spend $1,000,000,000, going to spend $1,000,000,000 to Instagram, but it just prevents anyone from getting to the point where they could be a rival. And the charge here is that they're doing that with search and what's going to be so one, it's a big deal.KevinThe other thing is it's hard for monopolies. Monopolies are not illegal monopolies that harm consumers are illegal. And Android Android is was one really smart move by Google of saying we're going to make an operating system that's basically free. I mean, the catch is it has Google search built in as the default option, but it's hard to prove monopoly like consumers don't pay for ads on Google.KevinConsumers don't pay for Google sheets for Google Docs. They don't pay for it. I guess you're getting a lot of, you know, in quotes, free as are straight resources.JenYeah.KevinYou're getting a lot of resources as a consumer that you don't directly pay for. But they're going after it. And I think it's it's not I don't want to say this, it's just a distraction, but it's a really big distraction because this is like a very low percentage chance. But if it does like you, you just imagine working at Google in the senior leadership and you're like, we should be working on AI and we should be making this better and this better and YouTube and oh crap, we are.AndrewThere like we have Mitch McConnell reason out over here telling us what or how to run the business. I agree.KevinIt seems like Google is a monopoly.AndrewI think their monopoly in that they own their own search. Like you Google something, it's the verb, it's what you do versus what you do. I think they're trying to prove, right. Did they do things that were like the competitive nature? Of course they did. They wanted to get rid of the competition. So there's times where I'm like, I don't make any sense this.AndrewI can't stand this type of thing. But then I'm like, we kind of need more regulation over here and like zero regulation and stuff like this. So I feel like, you know, like there's contradictions there with government involvement in business and stuff like that. But this is like, come on, like, this is so dumb. Like everyone that.JenLike it.AndrewOn this thing against Google uses Google likely for their search engine and they're not on asked Jeeves or or Amazon.com or Bain. They're using Google to do it so and there's a reason it's still the better product. And they kind of prove that if even if they did all these, I think that's where the cases is. Probably even if we did not do these things, people would still use Google.AndrewThey're not using Bing. They're not switching to another search platform at all.JenThey're going all use being anymore.KevinYeah, they don't.AndrewEven have points. You can get the search stuff.KevinOn pay, please. Bing.AndrewThey try to pay you. Yeah. You give pretty.KevinLittle coupons or. Yeah. I mean, this is just one line builder here in Texas as an example. But year to date, they have 330,000 unique sessions from Google Search, and they have 13,000 from Bing, 4000 from Yahoo! 2000 from DuckDuckGo Technical.AndrewAnd those are the people, the tin foil hats, but the DuckDuckGo. So yeah, like the conversions, they're like, well, those are the crazy ones, so you don't want those people.KevinSo next from Google itself, new sustainability tools help businesses and cities map environmental information. This is again interesting one to me because Zillow's kind of led the charge of adding all this additional information around property. You know, like safety scores. And I think they also they do have it was started by Brad, Adam and I forget the name of the company where they give like a climate score rating.KevinBut now this is being built into Google Maps platform. They're going to let you see solar energy potential. So it'll identify roofs and talk about the amount of information that likelihood that it will produce a certain amount of power, air quality information and common allergens. That's and so everyone who has a Google map built into their site, you wouldn't, in essence, if you thought that this was important enough to be able to opt for offer a toggle on your own site or experience with access to this same information.AndrewLike it's pretty cool. The solar one is a little bit interesting because our you know, our electricity rates here expensive. We have a moderately large our home 3300 feet so we and I'm home all day so there's no saving of power during the day by turn AC down and we run the AC 23 to 60 days of the year for the most part.AndrewSo we've considered solar. So Project sunroof in our home is newer. Like for some reason, like our house is not in there yet, which is really bizarre. Sort of imagine even like a brand new home. It's obviously not going to be in there, but being that we have no trees because they tore everything down to make it easier and more efficient to develop.AndrewWe have some trees growing, but I'm like, man, solar is like ripe for most new home builds, especially in the South. Like, I think we did do a private survey with our property at one point and like the amount of power we can produce is insane. So I think that's like, oh, that could be that could be a really cool selling tool to go new home construction.AndrewIt's more efficient. Oh, and then now you have solar, the ROI on that. The payback is extremely quick because like you, the efficiency of it for a new home compared to an existing home, an older established neighborhood would be there. So be nice if they I would imagine as it gets use more often the how it refreshes the map and how that would be a little bit quicker.AndrewYeah, just fast for like two, three, five years from now. Pretty cool. All the tools we have.KevinI don't have the exact number, but whoever originally shared this article in my social network also included a stat that I, if I remember it was either close to 50% or like 60% of people who were surveyed had considered at least one environmental factor as part of their search for a home. I imagine both of you living near water in Virginia Beach and near Tampa, that like that's a but even in Ohio, like you can't build homes in a certain level of a floodplain.KevinLet's say 100 year flood, I think is you just can't build in here. So it's kind of surprising in one sense that that number sounded like a good number to use as a stat because I would think like 100% of people are considering like possession of the sun and amount of shade. Yeah, it seems like people who, you know, still quote like, did you know that 94.9% of people use the Internet to shop for a house?KevinAnd like we stop talking about this, it's everyone is like everyone.AndrewJust remember that.KevinAre we doing this? Yeah. Well, like, of course, the environment's a big like, that's what location is. It's all those things wrapped up together. But I mean, do you remember doing, like, a specific thing that you were?AndrewI'm a for me, definitely with hurricane evacuate like we just had a hurricane one week ago that passed by us. So we still had, you know, work zones. I think it's part of the same records and it's like ABCD and then X non evacuate or like a is like you're on the beach or you're a mobile home. The trailer home, manufactured home, no such a wind, wind and water and then B and then we're C, we're actually like B and a half.AndrewLike our kitchen is a B, the rest of the house is a C for whatever reason. So we, we stick with C, we're like, okay, if that gets wet over there, it's fine. We're staying like we're 13. You're yeah, you're gone. You're thinking.JenI'm underwater.AndrewYou're under water. So we're like 13 feet above sea level. You're below sea, you're like a bowl. You're like, you know.JenTraffic is is.AndrewYou have tunnels.KevinSinking. Oh, yeah. Yeah.JenSo you're saying bought a house in the flood zone. And I knew that. So this I'm not a good candidate.KevinIt's gone. But you still porous. I mean, if it was bad, it's.JenOkay to tension Lake. Yeah. Yeah.AndrewIf you need insurance, if you don't like, that's a huge factor.JenFlood insurance required.KevinIt's just a good thing that it's me. It goes in the category of if this place your advantage, you should be talking about it. If you're a builder in Albuquerque, New Mexico, or Southern California or the center of California, and you have now the ability availability to show the potential of solar usage on a on a home like you should be.KevinYou should be talking about that. Definitely. Yeah. All right. Next up from CNBC dot com, we're going to start with the scary and then get to someone trying to offer a solution. Mortgage demand drops to a 27 year low as interest rates pull back the average contract interest rate for 30 year fixed mortgages was $726,000 or less, decreased to 7.2% from 7.3%.KevinApplications for a mortgage to purchase a home fell 2% or 28% lower than the same week. One year ago. So affordability matters, huh? Who would have thought who.AndrewWould have thought of that? You were going to think there's some really smart builders that are offering some bite out of mortgages and I think the show 5.45 or any number less than seven is really attractive.KevinYeah, rates are I mean, again, I think it's catching people off guard. And I don't want to go into an economics lesson, but what's happening right now is that the government has to sell so many more treasuries to fund the government that investors are demanding a higher rate of return. And so, again, people just keep getting confused. It's worth at this point, it's it's kind of like, again, it's September of 20, 23.KevinInterest rates have been kind of a big deal for a while now. So if when I say interest rate, Treasury bonds, Treasury bills, tenure and you're like, whatever, just shut up and move on to the next topic, you should go watch a couple YouTube videos. Well, I'll give yeah, something like this. You know, it's a bit like you have at some point you have to be like, Huh, I guess this is big deal.KevinYou you don't have to understand it to solve it. You again, you can't empathize with your customers, say can't communicate, you can't educate, you cannot build trust. If you're not making any content about this at all because you're scared of it. Like just, you know, so people are like, I don't understand. We didn't raise interest rates or interest rates only went up by X when the Fed.KevinWell, the Fed's not the only factor here. You know, and and so rates are still sliding higher and the government's going to need more money for a while.AndrewSo I mean I think you would say. Kevin and to end interest rates is the I'm trying to think of the right word to phrase it at principal. That's a strong word. I think we all can feel that word. What it means like interest rates, that is the single biggest factor right now, above all everything else, like you could have a purple house with backwards doors and windows upside down, sideways, all this stuff.AndrewAnd the interest rate is right on that single home. Somehow, who cares? Nothing is selling, right? Yeah. Like it overrides the most amazing campaign, the most amazing website, the most amazing content. Yeah. Location. All that stuff is the rate right now. Shoot, we had a home just list in our neighborhood, and it's one that's like, closest to our our size home and like, Oh, what's something listed for?AndrewIt's like seven something. And then I see that's not the Zestimate, the Zillow's I've heard the call their, their mortgage calculator. I'm like, Oh gosh. I'm like, that's a whole different type of person income job life wise compared to, say myself.KevinI mean.AndrewWhen we got it and at this house now we're at two points, you know, like that's a whole different ballgame as far.KevinAs ask your parents for money. I don't know if you saw that Barbara Corcoran video. So. Barbara Corcoran, she's had a couple of these viral comments. I don't know if she just doesn't have anything going on with her real life.AndrewCPR form.KevinStatements that are compelling. But the first one was, of course, like if rates go, go down, prices will go up. So you better buy now. It's like, okay, we just want to look at one way and that could happen. It also could be their rates go down because the economy is terrible and people that have to sell their house and then there's more supply, then demand, and then prices go down.KevinSo either one could happen, but now she's come out and she just her it was one of these like dude bro podcast about like how to get rich quick. She's like, you just got to get into real estate and like if you can't afford it, no big deal. Just ask your parents for the money. Like the boomers have money, just get their money.KevinAnd so then she's just getting trolled. Get the boom so hard by people who are screenshotted that and they're like, you know, in their clearly not rich surroundings. And these are like teenagers even. They're like, yeah, thanks, Barbara. I'll definitely just ask my parents for, you know, a couple million to buy that apartment in Manhattan. And I'm like.AndrewI can imagine the reactions on that would be hilarious.JenWell, you know, just despite the Straits, it's not like, you know, you can easily slip into this, like, dude, I'm like, oh, my gosh, this sucks, right? But when we look at I mean, I just talked to a builders like we had our best month. August was our best month than ever, you know, at their best, Like it was.KevinThe best.JenMonth ever, ever. And, you know, conversion rates are still really strong, even more so than they were first quarter. Like.KevinYeah.JenSo it's like, yes, it's there and it's harder, but there's still a lot of positives happening justifying.KevinWay more there. There are actually way more positives than the negatives. I'm telling you I would rather have rates where they are or higher than I would like to have the same number of existing homes available on the market today as there were in 2018. If that happens, I'm telling you it's not that that is bad. I will find it.KevinA whole bunch of other things. More fire will take an extra couple million homes, you're saying?JenBecause you're saying because the existing inventory is so low. That's yes, it's so good for us. Yeah.KevinThe only common factor, not not the only the main common factor that unites individual markets that are struggling right now are builders are not hitting or exceeding their goals is where existing home supply get This has returned to like normal normal. And it's not like poems are sitting around forever, but they're like this is the same month supply that was like considered healthy is violently unhealthy now because.KevinBecause why? Because if you get the same healthy supply as is normal and demand is still down here, that's not good like you. Yeah. And so anything that reduces supply and this is why people get into housing experiences of like builders don't want to build that. People truly think this is hilarious. They think home builders are like Louis Vuitton and they're thinking of like, you know what?KevinWe'll do here's we'll do Jen. We'll just build homes a little bit slower or we'll make them a little less available just to protect the prices of our homes. Right. They've never met D.R. Horton. They've never met else, you know, Century Jimmy, like some of these builders that just focus on volume like that. It's hilarious. But your point is again, Andrew, 100% correct.KevinWe would not be in this House now when rates went down to three and a half and then kept going lower. I was like, Melanie, I mean, we own this property since 2015 that we built on and we had a loan and still the we were paying off on the land. But the loan on land was like seven and a half percent.KevinYour land aside, you realize that if we build a that's basically the same size as the house we're in now on the seven acres versus a three quarter acre, we all have a lower payment than what we are paying right now, paying the land and.JenThe spray money. Basically.AndrewShe was like, Shut the front door. Kevin, are you serious? This real interest rate, principally.KevinWhat she said like, well, then why.JenAre not doing that will ever see is that low.AndrewYeah. I don't I don't ever want to see that low.KevinBut that's.AndrewThat's.KevinConspiracy. That's what I wish more people would just honestly talk about if it went back to that guess what would happen like there's there is my friend Rob John says that you know there's just that these are the five these are four days and we added a fifth I think. But deaths, diamonds, diapers, divorce, divorce and displacement like physical, those are the reasons people move.KevinYeah, those reasons haven't stopped.JenRight.KevinWhat has stopped is the availability to easily move around.JenRight.KevinAnd transact. And so that means that I think it's very likely that when rates do go down, there's going to be a whole bunch of people just like the the race was on and people realized that there are still going to make money During the factors. Half of the world was shut down. The race was on to buy things and do things and get things.KevinI think there's a whole bunch of people who the minute rates get below 500 are like, Oh, this is our chance. We got we've got to say this. Yes, we made the dumbest decision ever to move to Nowhere Vermont and work remotely and try to raise yak wool on the side. We need to get back home to Chicago.KevinYeah, You know, put their house up 400%. Yeah. And that is. I'm just telling you, whatever keeps inventory low as what I'm in favor of for our industry now as a human being and wanting people to be able to have access to housing, I think it's terrible. Absolutely terrible. Yeah. But it it is it makes the market work right now.AndrewI think there's a lot of people that regret not doing something with the massive amount of equity they have. So they're like this. This might be like, who knows what's going to happen? Like, this is our chance. We have half million or whatever, number two, three, 400,000 inequity. I want to do something with it. I want to move.AndrewSo there's there's a lot of reasons, I guess.KevinYeah. Now, you can't really touch that equity because there's.JenA lot of people.AndrewLook expensive.JenWebsites and looking and lots of traffic to get you know people are looking.AndrewPeople love new.JenHomes. It's just waiting.KevinBut it's to the rescue, maybe.AndrewRescue.KevinTo the rescue, maybe.AndrewLike a rocket is.KevinIs one. Plus buy rocket mortgage, a 1% down payment option. Andrew, you found this?AndrewI did find this. I was actually. So we reified with Rocket. I logged in, we revived like 20, 20, 20, 21 or whatever, whenever it was. And then I saw this as like an ad something like, Oh, they got me. They got me enough to share this with, with the team. Like, this is interesting and it just read the fine detail.AndrewSo it, it essentially it is targeting it's first time buyers or if you're a repeat buyer, but you do have to fit certain income requirements they give you. You could put down 1%. That's all they're asking for, 1% down payment. They'll give a 2% grant as part of that down payment. So you're at three and you could only give up to 3%.AndrewSo there's max down, payment is 5%. So they're making sure that like, okay, they they'll make more money with less down payment. They have more principle to have interest attached, attached to, but then there's no PMI on it. So that's really interesting. But the and the credit requirements to you looking at this, I'm not a mortgage broker. I'm not a finance person, but you're like, okay, 620 or better.AndrewThat's pretty low. I feel like for like what seems in my brain like this seems to be like a higher risk product or, you know. Beth our team was like, This feels really familiar to VR alone in terms of requirements. Like it's it's kind of what the VA offers for military. But there are you know, there's that every mean something I'm not educated enough in this as far as like what does qualified income mean versus income on it.AndrewBut it seems like it is targeting kind of like the middle ish class income levels and that kind of like in number, we're not probably a lot of people that are very great renters. They pay on time. They have no issue with that yet. They're stuck. They're kind of like, I can't get a down payment, I can't get a down payment on houses, keep going up.AndrewInterest rates are higher. I want to get out of renting. This seems to be the perfect thing for them.KevinSo, yeah, my niece, this seems like a product product for and it's not it's not just I'm almost positive this is a government for Fannie and Freddie have kind of somehow this has been devised and rocket does always a really good job of packaging things up. They do easily and simply for people but I'm pretty sure this option exists for from a lot of different sources.KevinBut my nieces, I think she's 24. She's made good money for a couple of years. She's lived with her her mom. She's getting married and she's like, I really want to buy a house, but I can only afford to put down or only want to put down X. Even though she has more money, she just doesn't want to put it on one.JenOf the.KevinMedia.AndrewYou want to have backup? Yeah. You're like, Cool. That which makes sense. Yeah. You think that'd be like, rewarded somehow? Maybe it is like less down payment.KevinBy banks because they know that's more risk for.AndrewThem. It is risk. But another thing I think a take on this too, is if you read it, I think most builders I'll be meaning for a second any incentives, they're usually not great at explaining them on their website. Intentional, not intentional. To me, I think clear is kind of the more direct you are with it, the better conversions you'll have.AndrewSo I don't know if there's any like, Hey, just leave a little bit info out. People want to call. Well, that's not good because it's in the cards you get or confused. People like, Hey, I'm trying to read this thing, you know, online salesperson. Like, well, they didn't tell me either, so I don't really know. I don't really know.AndrewSo I think I.JenRead that deceptive. What itself what are you talking about?AndrewI think it's like 90% clear and at the bottom there are some like really? Well, that number does make sense. You know, about 6000 there but that's not reference in I was little details I think might not be the best.JenAnswer but it's just written the word incentive. Okay. We're like.AndrewIncentive.JenBuying options.KevinHome buying like.JenNew home options.AndrewOkay, I'm buying.KevinI don't know if.AndrewI can tell if you're messing with me or not, because.JenOptions.AndrewFeels like a really weird word. Really? Oh, we should talk about that. And options versus incentives and do a Did you watch the story on Netflix? I'm really distracting this right now, but it's about words choosing words. It's about when oxycodone content was created and they did a group what's a focus group on naming the drug? Like what is morphine mean to you?AndrewThey're like cancer death, my grandmother passing. What does this word mean to you? Oh, headache. What does this word mean to you? OxyContin, Breathing like oxygen and as all positive words. And they're sitting there and you're like, oh, well, this is terrible. Like, if you if you watch another person affected by it, you're.JenSitting there like, so and so and so it's it makes a big.KevinDifference.JenAnd will mean something rid of the word appointment of somebody is like thinking like I blow.AndrewMy mind. I'm stuck in nerd corner only know what's happening.JenAnd now we we were like don't even say appointment because that means that's transactional and the last more stressful. Like if you get an appointment like you're, you're going to go to contract basically what.AndrewWord to be like.JenSo like we don't even say that we were to discovery tours this Discovery tour community visit. If there's somebody who's really like, I don't know, like, Hey, how about let's just touch up with an informational session to get you started? Like, I.AndrewHope they're not like, so, like an appointment. I feel like I'm Jerry Seinfeld, right?JenBut I guess softening that verbiage, that's when like, you know, anyway, I don't know how we.AndrewGot my language is.KevinMy grandma.AndrewMeans something while.KevinShe's still alive. She's 104. So there might be something to this. But her and my grandfather used to take vitamin. Oh, Andrew.AndrewThat sounds made up too.KevinAnd it like had oxygen in it. And I, like, I was, I don't know, five at a time.AndrewI see it now.KevinBut I was so like, I'm pretty sure you can't put oxygen into powder form and shove it inside of a capsule.AndrewLike it's just hydrogen.KevinAnd I think they're probably that's one of the jokers got away with that is they're like, well you're breathing, you know, you're breathing while you're taking it. So you're taking it out.AndrewI guess I need to know what's in this. I found.JenIt. It's like.AndrewWell, I found the Amazon thing, which is terrible. It's it's like a white he gets like a white and blue bottle vitamin. Know about it, But no ingredients. Ingredients aren't even.KevinYeah, well, my father in law also sells total shyster thing. He sells saltwater. It's a cure all. He's from West Virginia. Okay. Okay. And then my mom used to take Queen Bee Rock Royal Honey, It was. It was special honey in gel tabs that only came from Queen Bees because Queen bees have some ideas. Like, why do we all want to live for?KevinOh, wait, I guess that's insane.AndrewSay I'm quality over quantity. I don't know.KevinIf on.AndrewAny given time.KevinI'll just be paying way more attention to cosmetics and vitamin companies. Yeah, because I know more and that's just make up more stuff. It's getting.AndrewLet's make it as.KevinWe have plenty to talk about. That's interesting to them that we don't have to.AndrewMake it and we have discovery tours. We could tell them about this information.KevinOh, it's I like this. I don't know. Do you like this, Kevin? Or do you hate this? Kevin, This Kevin could never appear another episode again. It's just too much cost me.JenHave you heard today? Maybe. Is it too much or not enough?KevinNo, I think I think it's just the knowing that this is my last thing of today. And I get that you.AndrewSo every Thursday for the month of September, I think it's month to September, Starbucks is doing buy one, get one fall drinks after 12:00. Oh they.KevinShould be Stanley.AndrewThey should be sponsoring me. Right. And that's why I went and got one before. Like this little thing doesn't look so little. I don't I'm not a big dude. I'm like, five, eight. But that's in this cup look so dainty. Like, that's a top, but it's the pumpkin cream cold brew.KevinPeople always think this stuff is contrived and made up, but I will add a Starbucks card and all access you all can scan.AndrewAnd they better post a picture using it.KevinBut I'm just kidding. Ha ha ha ha.AndrewYou better use.KevinAll right, let's move on to our favorites or things we hate either in either one. Oh gosh. What are your favorite shows? Books, Things you've watched. I'm going to give away one of my secret favorite thing I like. You know, I share a lot, but then I'm always like, Ooh, that person's got really good stuff. I can't share it with anyone, but I will.KevinI will share it today. You want I start inter Yeah.AndrewYou talk about West Virginia. So we were recommended. I'm not recommending this.KevinI'm just West Virginia. You're you wonderful people. My home.AndrewCountry roads. Shenandoah River. Right. It's a great place. So there's this documentary. I think Johnny, Johnny Knoxville made it so someone from East, right? But it's the wild and wonderful whites of West Virginia. Just watch on the Amazon. It seems like it's a high school project. Someone made an I'm movie and it's about this family the house and West Virginia and Boone County, Boone County, West Virginia.AndrewAnd it's just a train wreck of I mean, you don't watch it and try to figure out who the father is of any of these children. I think it's one person, the great grandfather or the grandfather. It's the craziest thing. But it's about this family that's they're all related interbred. So it's it's it's insane. I'm like, what are we watching right now?AndrewBut someone recommended it to us. So sure enough, we watched it. I'm not advising to watch it or to not watch it, but if you need something that's a change of pace.KevinYou're doing this with, you're like, Hey, watch this thing.JenYou don't need to be. You don't need to justify your favorite. Oh, you're very handsome.AndrewThis is definitely not I mean, this is about a ancestral family that's inbred. It's a little.JenWeird. Are you favoring favor?AndrewI don't know. This is just.JenWild. It's.AndrewIt's interesting when we finish this whole thing, if that says anything. So we didn't turn it off. I've heard people left.JenIt was like the train movie.AndrewNobody watching it was a train wreck. You're like, Wow, this is real. Everybody. When I said West Virginia, so am I, my boom mic. But the boom, my boom arm that I got, the new one, it's perfect. It doesn't.KevinMove.AndrewThe other one's on the ground. I need to throw it away.JenSo not 2

This Week in Startups is brought to you by… Crowdbotics. Great ideas can change the world, and Crowdbotics is the fastest way to turn those ideas into code. Get a free scoping session for your next big app idea at crowdbotics.com/twist OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at openphone.com/twist Fitbod. Tired of doing the same workouts at the gym? Fitbod will build you personalized workouts that help you progress with every set. Get 25% off your subscription or try out the app for FREE when you sign up now at fitbod.me/TWIST. * Today's show: Rich Barton joins Jason to give a masterclass on his thought process behind creating evocative top-tier brands like Zillow, Expedia, and Glassdoor. (22:02) Rich also discusses the lessons he learned from Bill Gates during his time at Microsoft (49:22), how tech management has evolved (57:04), and more! Rich's blog on branding: https://www.hopperanddropper.com/syllables-scrabble-letters-and-picking-brand-names * Time stamps: (0:00) Zillow CEO Rich Barton joins Jason (1:58) The creation of Zillow's Zestimate (7:03) “Tension and Importance” and empowering people in the workplace (13:24) Crowdbotics - Get a free scoping session for your next big app idea at crowdbotics.com/twist (14:53) Branding and creating iconic company names (16:53) Navigating major layoffs (22:02) Back to building top-tier brands, “What got us here, won't get us there” (27:54) OpenPhone - Get 20% off your first six months at https://openphone.com/twist (29:25) Steering the complex dynamics of startup-attorney interactions (33:22) Defying convention to create stellar products and the effects digital currency (37:54) Fitbod - Get 25% off at https://fitbod.me/twist (39:23) Innovating in the real estate industry (49:22) Lessons Rich learned from Bill Gates during his time at Microsoft (57:04) How tech management has evolved (1:01:27) How Covid-19 and remote work changed the landscape (1:07:02) The concept of “iBuying” (1:10:31) Continuous high-interest rates, “zoom towns”, and the “great reshuffling” * Follow Rich: https://twitter.com/Rich_Barton * Read LAUNCH Fund 4 Deal Memo: https://www.launch.co/four Apply for Funding: https://www.launch.co/apply Buy ANGEL: https://www.angelthebook.com Great recent interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland, PrayingForExits, Jenny Lefcourt Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow Jason: Twitter: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast

For every real estate agent, there's a moment in their career when they're faced with a daunting task - determining the right price for a property. It's not just about matching market expectations, but about striking a delicate balance between what the seller hopes to get and what the buyer is willing to pay. In this episode of the Agent Rise Podcast, Mindi Kessenich and Neil Mathweg shed light on this intricate dance. Neil shares a heartfelt story about a past client who chose another agent because he didn't believe in the price she hoped for. This incident wasn't just about the lost listing for Neil, but a profound lesson in the importance of understanding and working collaboratively with clients on pricing decisions. Mindi highlights a critical point - pricing isn't about dictating a number but offering a perspective. As real estate agents, we are armed with data, comparable market analyses, and years of experience. Yet, the pricing process is a collaboration, where both the agent and the homeowner arrive at the final number together.  But it's not just about the price tag. It's about the strategy. Do you want to go the retail route, set a fair price, or try an auction approach? Every property, every seller, and every market situation is unique. It's crucial for agents to be flexible in their approach and to be equipped with multiple strategies to find the perfect fit. In the ever-evolving world of real estate, where market conditions can change overnight, understanding the art of pricing is crucial. Listening to clients, conducting thorough research, and being willing to adapt are the cornerstones of ensuring every property is priced right. Resources and Links mentioned in this episode: Agent Rise Summit IN A BOX and Invite to GET IN THE ROOM on August 25th, 2023 (90 days after the Summit) www.agentrisecoaching.com/summit Book a Discovery Call – www.agentrisecoaching.com Download the first five chapters of the Agent Rise Book at www.agentrisecoaching.com/book Join the Agent Rise Facebook Group (free) at www.Facebook.com/groups/agentrise To learn more about coaching, go to www.agentrisecoaching.com And connect with me on ANY of the following social channels. I LOVE social! Instagram (@agentrise) Facebook.com/AGENTRISE

Welcome back to Go Gaddis Real Estate Radio on AM 920 The Answer! In this insightful episode, Cleve Gaddis is joined by the talented Marcus New Doer from the Modern Traditions Realty Group. They discuss the critical topic of determining a home's value and explore the key differences between online estimates and professional appraisals by licensed real estate agents. Discover why relying solely on online estimates, such as the Zestimate from Zillow, can be misleading due to missing crucial factors. Marcus shares the importance of an in-person inspection to assess the property's condition, unique features, and potential value-add opportunities. Moreover, they discuss how understanding what made a homeowner purchase a property can become a powerful selling point for attracting potential buyers. Don't miss this enlightening conversation and learn how to find the true value of your home before selling it. Cleve and Marcus provide valuable insights and expertise to help you make the best real estate decisions for your Metro Atlanta property. To reach Marcus and get an accurate valuation for your home, visit go-gaddis-radio.com and click on "Contact Us." Stay tuned as Cleve Gaddis also addresses the possibility of selling your home without upfront costs and the significance of the months of inventory in the current market. This episode is a must-listen for anyone looking to navigate the real estate landscape in Metro Atlanta successfully. Tune in now and make informed decisions with Go Gaddis Real Estate Radio! Host of GoGaddis Radio, Cleve Gaddis, has been a fixture in metro Atlanta real estate since 2000. He has served Atlanta since 1987 by helping thousands of buyers and sellers make smart decisions. As a Co-Team Leader of Modern Traditions Realty Group, he is able to help clients and real estate agents alike. He has the heart of a teacher and is passionate about helping listeners learn the ups and downs and the ins and outs of smart home buying and selling all throughout metro Atlanta. If you have a question for Cleve, click here : https://gogaddisradio.com/ask-a-question If you are looking to buy or sell your home with Cleve, click here : https://moderntraditionsrealty.net/contact If you are looking to join a real estate team, click here : https://moderntraditionsrealty.net/career-opportunity

Never trust the Zestimate. But maybe trust the Canary. The House Canary. Could we finally be getting automated valuations that we can trust? Let's find out, today on Flipping America. People will sometimes ask me for my top 3 or 5 pieces of advice on becoming a real estate investor. Somewhere in the top 5 is this one crucial piece of advice. “Never trust the Zestimate.” But after today, it might also include, “Do trust the Canary…” Is there an Automated Valuation Model that works? Let's find out - today on Flipping America. Brandon Lwowski from House Canary joins us today to talk about their AVM, what sets it apart, and what makes their valuations something we can rely on.

In this episode, we dive into the features and benefits of Monarch Money, an incredible budgeting app that has gained popularity over the past three years. David shares his personal experience with the app and highlights why it stands out from other budgeting tools. From effortless budgeting to intuitive design and gamification elements, Monarch Money offers a refreshing approach to managing your finances. Stay tuned to learn more about its features and how it can help you gain control over your money.Episode Highlights:Introducing Monarch Money: A Modern Budgeting ToolMonarch Money is a relatively new budgeting tool, just three years old.The app stands out for its modern design and user-friendly interface.The developers have put great effort into building an intuitive and visually appealing app.Seamless Account IntegrationMonarch Money allows users to link all their financial accounts, including credit cards, bank accounts, loans, mortgages, and investments.It offers smooth integration with popular financial platforms like Plaid and Finicity.Manual entry is also available for accounts that cannot be linked directly.Net Worth Tracking and Zestimate IntegrationMonarch Money enables users to track their net worth by including assets and liabilities, such as property values.The app even integrates with Zillow's Zestimate feature for automatic property value updates.Transitioning from Other Budgeting AppsMonarch Money provides easy-to-follow instructions for users switching from other budgeting apps like Mint.It offers clear guidance on importing statements from Apple, especially for Apple Card users.Streamlined Transaction CategorizationMonarch Money simplifies transaction management by automatically importing pending transactions and allowing users to edit them.The app offers customizable rules to categorize transactions automatically based on user preferences.Users can enjoy the convenience of quick categorization and real-time tracking of expenses.Visual Cash Flow AnalysisMonarch Money's cash flow tab provides a comprehensive view of income, expenses, savings, and savings rates.Expenses are categorized by groups, allowing users to identify spending patterns easily.Users can also analyze spending by merchants to gain insights into specific areas of expenditure.Effective Budget PlanningMonarch Money's plan tab allows users to set budget amounts and track actual expenses.The left-to-budget feature helps balance income and expenses effectively.The app includes a forecast page where users can set budgets for future months, encouraging proactive financial planning.Adjusting Budgets in Real TimeMonitoring progress and making intentional decisions throughout the month is crucial.Monarch Money enables users to adjust budgets on the go, reallocating funds between categories or goals.The "sweep remaining amount" feature allows users to transfer unspent funds to different categories easily.Conclusion:Monarch Money offers a refreshing and user-friendly approach to budgeting. With its intuitive design, seamless account integration, and powerful features like real-time transaction tracking and budget forecasting, the app empowers users to take control of their finances. Discount code for 30% off your first year: DEWITTCMwww.monarchmoney.comHelping ADHD'ers unleash their financial potential through planning and coaching.DeWittCM.com/adhd to book free discovery session

Spencer Rascoff is one of most prolific entrepreneurs of our generation. He is the co-founder and former CEO of Zillow and the co-founder of Hotwire which sold to Expedia in 2003 for $680M. He is currently the co-founder and Chairman of the board for Pacaso, a high end second home fractional home ownership start up, the executive chairman of dot.la, Co-Chair of Supernova and he serves ont he boad of Varo Bank, a digital fintech bank.  He has also invested in several successful prop tech companies and start ups through his 75 & Sunny Ventures and Labs. He's been a proven leader in the prop tech industry and has taken multiple companies from Concept through IPO including Hotwire and Zillow.   In this interview Spencer breaks down what it takes to survive as a start up, as well as walking us through all the critical steps a founder will need to navigate to launch and build a thriving, sustainable business. We disucss real issues like the burn rate - runway predicament which most start up ventures find themselves in at some point, and difficult human resource choices a leader needs to make as they scale. Spencer also gives us the exclusive under the hood look at Zillow and the infamous Zestimates. You can't learn this valuable insight at Harvard and Stanford Business School!! School is in session.     If you have not subscribed to The Deal With Danny Brown please go to Apple Podcast here and subscribe and leave us a 5 star review and comment if you enjoy are content!     You can listen to Spencer Rascoff's podcast “Office Hours" @spencerrascoff www.Spencerrascoff.com   @dannybrownla www.dannybrownla.com 

The European system is different from the US. There is no "Zestimate" on vineyards or castles.How do you get a deal in Europe?  And where?Is it really based on personal connections and relationships? We explore the current market with one of the top agents in Europe, Øyvind Olstad, former realtor TV star of  "Lukket Visning" and long-time Christies International affiliate.

In this episode of the Selling St Pete podcast, I provide a market update with nationwide and local data. The presentation utilized in this episode was prepared by Brian Buffini, the National Association of Realtors and the Florida Realtors Association. As I mentioned in the podcast, real estate is hyperlocal. If you would like to receive a market update specific for your neighborhood, community or subdivision, please email me at nicole@nicolesaunches.com with the subject line: Personalized Market Update and I will prepare a report specific to your community. Additionally, if you would like to track your home's values (and have an estimate that is far more accurate than Zillow's Zestimate), click on this link and add your information and you will receive a monthly update estimating you're home's market value. I'd love to connect with you if you're considering buying or selling your home. Even though I am licensed in Florida, I can connect you with real estate agents globally if you are looking to buy or sell outside of Florida. Thanks for tuning in! Please don't hesitate to reach out if there is a specific topic that you would like for future episodes. Happy New Year!

Happy Day 7 of Podmas!!! Today we discuss if you should buy gifts on or off the list? Then we dive into the cost of our housing this year. Everything from what our mortgage cost us to the Zestimate. And then a quick aside regarding renting vs owning! Tune in to get all up in our business.

The Shipping Container is generally unimpressed with the visuals of the White House during election coverage, so we take a look at Zillow, find out about all the secret rooms, and take our best guesses on what the house is worth. Plus, we discuss the storm on the way to Florida, ask why Gisele bought a $1 million home in Miami, and Jess tells a story of the time newly-elected Senator John Fetterman (rightfully) scolded her on Twitter. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Great Zestimate Crash of 2022 - Wholesaling Real Estate

Join the free Mailer Bootcamp to send your first (or next!) 10X Mailer: www.MailerMomBootcamp.com I help Real Estate Agents develop BRANDED content that will position them as the AREA EXPERT through proven strategies to rapidly grow their business and position them as the area expert that everyone wants to work with to buy and sell their home! FREE CONTENT FOR YOU: Instant Download: 35+ Free Lead Generation Ideas for your Real Estate Business www.bit.ly/LeadGenPDF Want access to the full eBook? Grab it here: www.bit.ly/LeadGenEBook FREE CONTENT FOR YOU: Instant Download: 175+ Video Ideas for your Business https://mailchi.mp/3keysrealestategroup/contentguide INSTANT DOWNLOAD: Geographic Farming Sheet Cheat for Real Estate Agents https://mailchi.mp/3keysrealestategroup/farmingcheatsheet INSTANT DOWNLOAD: 25 Examples of high converting Farming Mailers for Real Estate Agents https://mailchi.mp/3keysrealestategroup.com/25examples INSTANT DOWNLOAD: 35 Social Media Post Ideas - Free Mini Content Calendar https://mailchi.mp/3keysrealestategroup/minicontentcalendar join our Email List: http://eepurl.com/gO5HzT AVAILABLE AS A PODCAST: *Google Podcast: https://www.google.com/podcasts?feed=aHR0cHM6Ly9hbmNob3IuZm0vcy8xMmJjMjQ4MC9wb2RjYXN0L3Jzcw==*Apple Podcast https://podcasts.apple.com/us/podcast/hyper-local-real-estate-agent-strategies-to-dominate/id1495383801*Spotify https://open.spotify.com/show/1sgiHkfoIULrcyDGlr9OPs

Did you know your home is on Zillow — even if it's NOT for sale? Here's what you need to do, in 60 seconds. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tune in this week for a better perspective on the amount of credibility Zillow's Zestimate actually has when it comes to pricing a home. I'm sharing why the Zestimate can be wildly inaccurate, and why it's no replacement for an experienced human who understands the nuances behind property values.   Get full show notes and more information here: https://connectnorthofnyc.com/24

Ever wonder how that's Zestimate appears whenever you search your own property or another you'd like to buy? Or why that house you fell in love with turned out to be too good to be true? On this weeks episode, the CBG Luxury Team shines the spotlight on consumer real estate websites and the splash they've made in the market over the last 15 years.   From viewing the latest new listings to incorrect data, Scott, Rachelle and Marisela dish on how these industry game-changers have helped buyers and sellers navigate the bumpy ride of real estate but with an asterisk or two.    Rachelle brings us up to speed on one of south Florida's biggest listings ever and the team saves their twinkly best for last on “What Caught Your Eye”.    Tune in again for the very best real estate advice from Boca Raton and beyond! 

  Today, we welcome Zach Roesinger, a commercial real estate broker, syndicator, and CEO of CRE Pro Course. Zach is also involved in a lot of obscure deals which he discusses in this episode. With all of these things on his plate, he's able to make it work by building scalable systems and delegating effectively. He also shares the value of actively going out, taking whatever opportunity is out there, and putting yourself in front of people.   Zach specializes in Opportunity Zone real estate acquisition, entitlement, and zoning, as well as construction management of new build projects. Specializing in 1031-Exchange consulting and third-party capital placement in QSRs (Quick Service Restaurant) and franchised businesses by providing risk-adjusted returns to investors.    He has traveled to over 100 countries and worked on 5 continents for companies like LVMH, Newmark Knight, Cloudera, and Montegra Capital. As a sales leader for Trulia and Zillow, Zach “cut his teeth” outbound cold calling [ >250 calls/day] closing large deals with some of the largest brokerages and real estate teams in the US. A polyglot (fluent in Spanish and Portuguese), Zach has built sales teams that leveraged automation and proven sales techniques, teaching Heavy Hitters to focus their efforts on out-of-the-box solutions to complex commercial real estate deals to provide their customers and clients with unparalleled sales experiences.     [00:01 - 10:01] What Keeps You Going? Zach shares his background, CRE Pro Course, and his other ventures How he's able to focus on his multiple businesses Identifying tasks that you're uniquely skilled to do Standardizing procedures Having the right people in the right places Why Zach prefers to personally go out and do listings Picking up new properties and projects Meeting and talking to people, especially the workers onsite The way that you advertise is by doing a good job   [10:02 - 19:55] Be The Master of Your Domain Zach discusses his racetrack business and targeting buyers for nuanced properties Exemplifying that you are the expert in the space Make it easy for your clients and contact to complete the task you want them to do Eliminate steps Zach's recommended app   [19:56 - 21:55] Closing Segment Reach out to Zach!  Avoid pitch slapping Links Below Final Words Tweetable Quotes    “Put the right people in the right places, and make sure that they're happy and well-compensated for doing what they do, and that they're held to the certain standard that you know, a winning team is going to be held at.” - Zach Roesinger “It's really just going to be what is exciting and appealing to you, and what keeps you keeps you going and gets you going every day.” - Zach Roesinger “One of the most fun parts about brokerage and actually selling something is going out, hanging out with the dudes with the welders that are just in overalls. Those are the best people to actually get some insight from.” - Zach Roesinger -----------------------------------------------------------------------------   Connect with Zach! Follow him on LinkedIn. Visit the CRE Pro Course website if you want to know more about the work they do. Check out his podcast, Coffee with CRE Closers.   Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: Zach Roesinger  00:00If you had considered selling your racetrack, but you had never told anybody about it, but you didn't want to be the guy out there waving his hand saying, Oh, I'm selling my racetrack. I'm selling my, if you want somebody else to be out there marketing it for you, it just brings a prestige to your market. It allows somebody else to actively go out and get those while you run your race track, and it creates this buffer.   Intro  00:23 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.     Sam Wilson  00:33 Zach Roesinger is a commercial real estate broker. He's the CEO of creprocourse.com. And also a real estate syndicator. Zach, welcome to the show.   Zach Roesinger  00:43 Sam, good to be here. My man very much appreciative of you and thanks for having me on.   Sam Wilson  00:48 Absolutely, pleasure's mine. Three questions I ask every guest who come to the show. In 90 seconds or less, where did you start? Where are you now? How'd you get there?   Zach Roesinger  00:55 Great questions. I'll start now. Clock go. I came from Denver, Colorado. My father is a real estate broker did land and big deals throughout my childhood. So I was brought into commercial real estate early, understand the cyclical flow of it, and how some days can be really great and other days can't. You have to come back to your family every day with a positive smile on your face when things are great, when things are not. I've traveled to over 100 countries around the world. Live now in Austin, Texas. And as you mentioned, I am the CEO of CRE Pro Course and CRE PRro Course is an online course that allows or teaches new agents who have yet to close their first deal to get their first listing and the first closing in the first six months so that they can bridge that gap and between coming over from residential real estate maybe or, or they're getting into it from another field altogether. So sometimes it's hard to get into commercial real estate because the closing time for your first closing is so long, most people can't last that long. But we teach you how to do it in your first six months. Some people do it in two months. So I also work in syndication, and I work in brokerage as well. So I sell warehouses, very obscure things a race track I have on a car dealership, a recycling center. So I really liked the obscure deals, and I'm always looking for more. So Sam, let's get together and do a deal soon, man.   Sam Wilson  02:14 Sounds like a winner, man. That's a lot of fun. And also a lot of different moving parts. How do you choose which one to focus on?   Zach Roesinger  02:22 Great question. It's funny because I have employees, and I work for people in each of these companies. And they say, you know, it's just mind blowing, Zach, I can barely keep one job straight, you know, throwing all the balls in the air and keep throwing them up. And it's just time attention to a particular task and importance, right? I attach a beta to every task that I'm doing. Is it really important? Do I need to do it now? And can somebody else help me do this? So as we talk about a scaling real estate venture, it's really important to be able to identify those tasks which you're uniquely skilled to do. that your company relies on you for and then make sure that you can, that you could probably do most tasks in your company, Sam, it's really helpful to be able to standardize those tasks, and then create a procedure around them and then have somebody who's maybe better apt to doing them actually follow through with it. So a good example is real estate flyers, right? When we get a new listing, you and I could probably sit down to InDesign or Paint program and come up with a really good-looking flyer, but is that the best use of six hours of our time? For me, it's probably not there are other people, my team that are really good at it. But they need to know what goes on there. Because they're really good at design, but they're not in the day to day, right, they don't understand the intrinsic value behind what I'm trying to sell in the commercial property. So it's really important to be able to scale out a business. And the way you do that is by standardizing, creating procedures, and then replicating yourself and really focusing on the things that you're good at. And more so on my teams. I know that there's some like I call them whale hunters, right? Some of the brokers that work for me, they are really, really good at closing deals opening, they're really good at relationship management. They're terrible at paperwork. So I don't want them doing paperwork, it's a bad use of their time, it's bad use of our resources. There are people on our team that are really good at it, right, you know, they're wizards at CoStar, they're wizards at Crexi, they can draft again, they can draft a flyer that makes just like, it's mind-blowing. But for them to do that, we have to have people going out, we have to have team members going out and actually getting the business without the whale hunters out there finding new deals, there's nothing for the rest of the team to do. So it's my goal as a manager or as a teammate, or anywhere in the organization is to put the right people in the right places, and make sure that they're happy doing and well-compensated for doing what they do, and that they're held to the certain standard that you know, a winning team is going to be held at. And if there's a breakdown, if there's an issue, if there's a bottleneck, we as managers, Sam, it's really important to be able to identify those and clear the bottleneck. So a lot of my time is spent addressing what works, what doesn't and how to standardize and scale those things which do work.   Sam Wilson  05:05 What about your current mix of of businesses, keeps you going out and still actively doing listings? It seems like that would be one of those things. As you're talking that you would say, Hey, wait, just from an efficiency standpoint. If you have a team of brokers, you guys take this you guys go list it. Why are you still involved in that side of it?   Zach Roesinger  05:22 I was asked my father this same thing to why does he not become a director or sales manager. I just think it's a really fun, I can be a little bit more selective on what I take now. But I tell all of our newer guys like take whatever is out there. Somebody that you used to go to college with, we run into them at a restaurant, they say, oh, yeah, I own this restaurant, thinking about selling it great. Let's figure out how to, you know, get you in the door and show you how to list that. Now if you decide you don't like restaurants listing restaurants, well, then we'll try it one time. If you don't like it, we'll move on to something else. But always be willing to say yes, in fact, earn the right to say no. And I know that Steve Jobs and there's others that say Warren Buffett that it's more important, the things you say no to than those that you say yes. However, when you're first starting out, I mean, you want to try, this really pertains to listing, I have oftentimes a listing agent or a newer agent that says, Well, you know, if I can't sell it, what happens? And I said, Well, okay, then you spent some time learning about a new field of study, you practice something new, you met a new potential client who is going to exude your praises, because the property didn't sell that's part of your fault. But also there's a lot of other factors that are out there. And I was referencing before the economy right or just you know, the hot topic of the hour. Here in Austin, we're starting to see a lot of resurgence back to an altered office. So and I say that by I come from Denver, Colorado, and I worked on this project called The Taxi Project, which is taking old warehouses and refurbishing them making them cool offices. Well, I just saw yesterday that I'm now big on TikTok, I'm @cre_pro_network on TikTok. When I saw on TikTok, this guy was highlighting an office building or a new office I called them warehouse, I think warehouse office buildings that were going for top dollar. And I think that that's going to be one of those things where historically, it has been a office building, everybody gets in an elevator and goes up. And now people are saying, you know, I kind of want a hybrid office. These cool, chic new buildings are pretty cool. So to answer your question, it's really just going to be what is exciting and appealing to you. And what keeps you keeps you going and gets you going every day. For me, it's not repetition. And it's not necessarily the money I don't really like when it becomes repetitive. You could sell the same, you know, warehouse over and over again. But is that really that exciting? So picking up new properties, picking up new projects, meeting new clients, one of the most fun part about brokerage and actually selling something is going out hanging out with the dudes with the welders that are just in overalls. And I'm an Italian leather suit. And they're there's this guy over here and I'm like No guys, like I really want to know, what do you, tell me more about this property, tell me more about what you like, and what you don't like, and what you would change. And so there's sometimes that's like those are the best people to actually get some insight from are people that are working and living there every day, not just the expenses and the NOI and the cap rate of it, but actually saying, Hey, I don't know if you know, to a new, let's just say a prospective buyer. I don't know if you saw this over here. But this is a unique feature that you won't find anywhere else. And I wouldn't have noticed it unless I talked to the guys who were on the shop floor. So that's what I really liked about brokerage is actually meeting and talking to people, getting outside of the spreadsheets and delivering, delivering value above and beyond. And I know it's cliche to say but that's how our business I think really scales out is that the way that you advertise is by doing a good job. If you're in residential real estate, you have a big billboard or you know you're on the side of a bus or something like that. But in commercial real estate it's completely reputation when somebody goes to sell their recycling facility and they're like, I don't know anybody in commercial real estate in their their country club or their you know the baseball game and they say oh yeah, Zach Roesinger, I know that guy. He sells just about everything and he was really good. Ge got us top dollar or he did a great job marketing. So all of the above and it feeds into itself Sam I would say that it's just much like your businesses that as I do CRE Pro Course and I have had a chance to launch our television show and we have Coffee with CRE Closers, my clients and some of my best clients today actually were guests on my show just much like this. I had them come on, talk about what they did they got to ask questions about commercial real estate. People gave me social proof by being the, you know, leading this TV show and so when they went to go sell their building, they said you know there's only one guy I can think of the guy keep seeing on YouTube and you know Facebook Live and LinkedIn live, that Zach guy. He sells real estate so they cross pollinate.   Sam Wilson  09:57 Man, love it. I love it. A lot of moving pieces there. Let's talk about these nuanced properties. How are, I mean it's one thing to find okay, you know, I'm beat on multifamily quite a bit because I'm kind of bored with it, to be honest, talking about getting bored, but it's like ever. You could find a million buyers for multifamily. I mean, you could be the worst broker in the world. Nothing you could move a multifamily property right now. I think it's a lot easier to move something such as a multifamily property. I'm presuming here. Over something much more nuanced, like a race track?    Zach Roesinger  10:30 Absolutely.   Sam Wilson  10:31 How in the world are you even finding are targeting the right buyers? Because not like, it's not like people are just hanging out on on LoopNet or Crexi. What are you...   Zach Roesinger  10:41 Well, I often think the same thing. And then I think to myself, well, it's a niche product, right? It's much easier, I believe, than selling a multifamily property, because there are only so many ferrous and non ferrous metal reproducers in this planet, and they all know where my client is located, like they do business with this person. And so it makes it very easy that no one's going to get out of a completely different business and just try their hand at a $25 million operation. No, no, they do it right now they're just looking to expand their operations. Yes, identifying the right one, that's a little bit more difficult. And because of that, we enter into a pretty ironclad agreement with the seller, because oftentimes, I say this sort of ingest, but a lot of our job in brokerage, I believe is to come in as a third party and well market a property which you may have thought was for sale or not. But I'm the one who validates that. So if you had considered selling your race track, but you had never told anybody about it, but you didn't want to be the guy out there, waving his hand saying, Oh, I'm selling my racetrack, I'm selling my, if you want somebody else to be out there marketing it for you, it just brings a prestige to your market, it allows somebody else to actively go out and get those while you run your race track. And it creates this buffer. So if you didn't want to sell to somebody, for example, you don't have to address them directly. Because I'm sure in the race track world, for example, it's pretty small, you're going to see that person again at the next race track owner meet up or whatever. So that's what's the great part about having a broker. And I think the other part of it is that as the marketing, I really think that for us, and in order to scale, it's always been an issue with, you know, you don't just stick a sign in the yard anymore when you're trying to sell commercial real estate, you actually have to be pretty dialed in in terms of the ability to replicate and scale. And I think that's much a testament to your show here, Sam, and I come out of commercial or I come out of computer and software sales. And those guys really have it dialed in. I moved from Brazil, up here to Austin to go through an IPO with a company called Cloudera. And the company's they've taken a billion dollars in investment at that point, a company that has a billion dollars in their only objective is to get on as many companies, fortune 500 companies as possible. They're going to spend whatever it takes in terms of software and scaling and, and replication and automation, in order to make sure that their salespeople are utilizing their time the best so that they get the most orders so they get the highest stock price when they do go public. So I just take a page out of the book from the software salespeople in that you want to be, just like you're doing here, Sam, which is a one-to-many approach, allowing people to engage with you when they're ready. But exemplifying that you are a master of your domain or what you're trying to put out there into the world to say, here's who Zach Roesinger is, here's who Sam Wilson is. And if you want to do one of these things, if you want to buy or sell a race track, I know the guy but I'm not calling the people that are selling and buying racetracks. They're calling me because I've talked about it or because somebody said, Hey, do you think this thing is ever gonna go up for sale, or maybe I just got it out there with my marketing team to some degree, and somebody says, Oh, I saw this on Facebook the other day, or I saw this on a Google ad the other day, or I saw a video on this the other day, we may want to buy this asset or we may want to talk to the guy who's trying to sell it. And there's only one of me out there. So I think that's a lot of what it required which is the one-to-many philosophy and then allow people to engage with you but make it very, very easy. I want to highlight one of these things that are might be embarrassing you but you do the same thing on your podcast as I do on mine, which is make it really really easy for your guests, make it really, really easy for your clients and your contacts to complete the task that your objective or your goal is. And I reminded of that this morning when somebody asked me can you write a recommendation for me on LinkedIn because I'm trying to get a job at this brokerage and I said I would love to. I first of all don't have the bandwidth to think that hard through it and look through like what you've been doing over the last few years but I liked you and I'll do it for you, make it really easy for me. Tell me who it is, provide me an email of what that looks like and what you would like me to do. I am more than happy to. I'll edit it. I wouldn't say anything that I don't mean. But it's going to be the same, it's going to be, hey, this guy, Johnny is a great guy, have a conversation with him, Bobby, if it works out great. And if it doesn't, that, you know, it's just another connection for you, but do it as a favor to me, right. And the only way that you know he's going to get that meeting maybe is if I write that letter, but I'm not going to remember to do that after the 97 things that I have to do. So make it really easy for somebody. The same thing on on an email, make it a clickable link, right? If I put up six listings on Friday, and I created or I had my marketing team create six different bullets, six different web pages with six different information sheets on it, so that if I had to give it to somebody, or if I had to give it to, you know, send it out to a few brokers I thought might be interested, I could just send them this, they could click on it, it has a way a call to action at the bottom, makes it really, really easy. But don't make somebody work harder than they need to because they won't, right.    Sam Wilson  15:56 That's absolutely spot on. That goes for reviews, LinkedIn recommendations, man, and everybody asked me for something like that I say you write it, send it to me, I'll make my tweaks. I will, it'll come, it'll be from Sam Wilson, but you're gonna write it and I'm gonna just edit a few little words here and there, make it authentic. Because again, as you said, I'm not gonna say anything. I don't mean, and I'll delete it if I don't mean it. But make it easy for me. And that goes for listings, that goes for onboarding clients in you know, investors, I'm dealing with a thing today. And I'm like, Oh, wait, that link is gonna take them here. And then they got to know we're not doing three steps. This is one step. One step, give me your money.   Zach Roesinger  16:31 I believe it's Occam's razor as well, right? Make the path of least resistance, the most apt choice and why I say that is at the end of Coffee with CRE Closers, my podcast, I say how can people get in touch with you, but I pre warn them and say, hey, look, have something loaded up. But make sure it's not temporary, right? Don't give me your Clubhouse username, or whatever it is, you know, like, it's something that might not last the test of time, or may not even last as long as this you know, as this podcast or my podcast or whatever. But do something that like is where you're heavily followed. So if it's LinkedIn is where you do a lot of business, but you're trying to grow your TikTok, and I'm speaking personally, because I'm trying to do this right now. I'm big on LinkedIn live, but I'm really small on TikTok live. Yeah, so I tempt myself to say, oh, I can build my audience by sending them to my TikTok channel. Well, if tick tock doesn't work out for me, I know LinkedIn will long term like that's just where business gets done, but don't sacrifice in the short term. Really, you can build your audience organically on tick tock, and you can mention it may be but stay with the channel where you're going to deliver the most value. And then once they get there, once they're on LinkedIn, which you know, has 20,000 People that follow you sure mentioned it on there as well, right? Then they can redirect and go to TikTok. But when there's too many steps, Sam, if you ask somebody to endorse you, here, here, here, here, here, I get like one or two maybe, and then I'm like, okay, like I'm endorsed out, I want to do this for you. And if there was one button, I could push that would syndicate across all of them, I would do it. I wish it would post to all of them. And it there may be something out there where people are going to email in to your program here and say, Oh, well, Zach, you should use this really great plugin, which, you know, that's, that is one of your questions on your sheet here. And I want to I think that knowledge is power. And the more resources we can get out there, the better my number one tool for commercial real estate or real estate in general. And I think everybody should look into this because it's not that expensive. It's maybe $100 A year is one called LandGlide. It's really just the shortcut way. It's available on iPhone, and maybe Android as well. It's in the Apple Store. So maybe it's just anyways, what it allows or what it does is it systematically organizes on a map all of the CAD data so the Central Appraisal District data, it's also kind of a cool parlor trick, right? If you're driving down the street and someone says, Hey, what do you think that house is the value of that house is well, sometimes it's hard on Zillow and Trulia or Redfin or something to like, dial in on that then it's like speculative. It's the Zillow price or Zestimate. This one is actually just the appraisal district and how much of the land is used for agriculture and how much is you know, for the residential, how big is the house square footage? It's all the stuff that's in the Central Appraisal District, but it's just in a very easy to read format. So it's one of the few apps that I pay for, and I relish try to offer that as much as possible to someone who, particularly if you're driving in a neighborhood, you're like, Oh, I really like this neighborhood. I really would love to purchase his building. How do I get in touch with the owner? The owner is written right there, right like it maybe it's an LLC, or maybe it's a business entity, but that's really, you know, go to open corporate.org or calm. You can find out what the phone number is who the head of who the board directors are. It's one more step but it's also like if you really want something you're gonna have to put in some effort. This just eliminates about 10 of the steps going with LandGlide, so I heavily endorsed them outside of my own software which is creprocourse.com. Plug it.   Sam Wilson  19:56 On that note, Zach, what is the best way to get a hold of you?   Zach Roesinger  19:59 I am Z-R-O-E-S-I-N-G-E-R on LinkedIn. So I'm Zach Roesinger. Find me on LinkedIn and what I was asked him and encourage you to do the same. It's hard for me to always put together exactly who is the best contact for you. So tell me who that is. If we connect today, and you say, hey, great to connect, do not, we call it pitch slap. Don't pitch slap me. Don't tell me how I need auto insurance or, you know, we should jump on a call to find out whatever my car warranty or something. Yeah, let me know how I can help you out. And that's not necessarily going to be buying your product today. But if it's an introduction, I'm more than happy to do that, even if we just connect, because that's what LinkedIn, I believe should be used for. It shouldn't be used for selling, it should be used for connecting, providing connections is what we do, Sam, it's one of the biggest things in commercial real estate, we've connect a and b and we get paid handsomely for that, or at least we solve the connection problem between A and B. LinkedIn helps me do that because it shows me what your skillset is. And it also shows me where it allows me to connect you directly to your next big investment or your next client.    Sam Wilson  21:09 Love it. Zach, thank you for coming on the show today. I certainly appreciate it.   Zach Roesinger  21:12 I really appreciate it. Please come on Coffee with CRE Closers or follow everything. We're doing it creprocourse.com. I really appreciate your time today, Sam.   Sam Wilson  21:21 Thank you. Yeah, we'll certainly make sure put that in the show notes creprocourse.com. Thank you, Zach. Appreciate it.   Zach Roesinger  21:27 Yeah, man. Thank you. Thank you to audience.   Sam Wilson  21:55 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen, if you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories so appreciate you listening. Thanks so much and hope to catch you on the next episode.

Today's podcast is a wake-up call for ALL real estate agents. Here is the bottom line, now more than ever it's absolutely critical you become a listing agent. Being with the wrong broker, buying buyer leads, branding are all leading to what may be the biggest agent failure rate in history. When you listen to todays show you will have facts that will help you make the right decisions.  More than 90% of potential real estate buyers and sellers, according to the National Association of REALTORS®, connect with a real estate agent to help them buy and/or sell their house.   That equals about $100 Billion in agent commissions every year. It shouldn't surprise you then, that real estate tech companies want a bigger piece of that agent commission pie for themselves. Here are some strategies real estate tech companies have to get more commission money from YOU, the country's hard-working real estate agents and brokers. We'll look at Zillow, Compass, and Opendoor specifically. POP QUIZ: Please choose one answer: 1) I am ready to join EXP Realty.  2) I am interested in EXP Realty and need more info.  3) I am not interested in EXP Realty.  Key: * If you answered “#1” congratulations. You are about to join the fastest-growing real estate company in the world. Tim and Julie Harris are inviting you to join them at EXP Realty. Text Tim directly for the next steps: 512-758-0206. (text only please) * If you answered “#2” please watch the videos and check out the other intel on this site. http://whylibertas.com/harris .  * If you answered ‘#3' no worries. You will want to check out whylibertas.com/harris so you can at least know what EXP Realty is and why so many agents are moving to EXP Realty. ZILLOW. What is Zillow's 'Back to Basics' strategy, and how might it affect you? Zillow has stated that it is going back to its roots by focusing on “extracting” an additional $1.5B annually from agents by 2025 via its Premier Agent program. This “extraction” from agents paying for Zillow's Premier Agent Services would generate a total of $2.9B annually for Zillow.  That eclipses its entire 2021 revenue from all combined sources. 2021 Revenue = $2.1B Plus, +800M from Adjacent Services such as Mortgage & Title Plus, +600M from Other IMT (Internet, Media and Technology) Plus, +1.5B from Premier Agent Services – or between $250M – $300M per year from agents A total of $5B in 2025 Revenue is their stated goal. Well, good for Zillow for making their goals 'SMART': Specific, Measurable, Attainable, Realistic and Timely... but maybe you can disrupt the 'Attainable' part by choosing not to participate in their agent-soaking goals. Just a quick search about the quality and quantity of 'leads' that agents are paying for will garner you an endless supply of not just agents complaining about inappropriate, low quality 'leads', but perhaps just as alarming are the complaints by actual homeowners about Zillow. For Sale By Owners who were only allowed an aerial view picture, severely inaccurate Zestimates, 'Zillow-assigned agent' who knows nothing about the listing someone calls on, etc. The quantity and variety of complaints is astonishing. Solution? Become your own best generator of commissions by learning to be a proactive lead generation machine. Listing agents don't have any lead generation issues. Learn more about your ad choices. Visit megaphone.fm/adchoices

Zillow is not going to buy homes for the rest of 2021. Geoff gives his take of what this means for the future.

Is the market slowing down? There is a narrative in the media that things are slowing. Prices seems to be not as crazy as they were in the summer. There are plenty of people predicting the upcoming bubble-burst. So what's actually going on? In this episode Sergio and I discuss this topic and give real time examples of what is actually happening with buyers and sellers in Denver as we head into the Fall of 2021.  Marco Randazzo // 8z Real Estate marco.randazzo@8z.com // 407-721-1569

Everyone wants to know the value of their home. What's it worth? How much has it gone up this year? Is my Zestimate accurate? Everyone knows that Zillow has an estimated value for your home listed online for everyone to see. The question is.... are they right?  Marco Randazzo // 8z Real Estate marco.randazzo@8z.com // 407-721-1569

Is your weight on your driver's license accurate? Neither is your "Zestimate." Tune in for a zesty chat with Erica Simpson, REALTOR® with Platinum Keller Williams Realty Alaska Group, for everything you need to know when shopping for a home online.