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This Is The Time To Start (Or Join) A Team • Close-ing Time • Chris Linsell

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A tartalmat a D.J. Paris biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a D.J. Paris vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.

Welcome to our monthly feature, Close-ing Time – in partnership with TheClose.com.

Chris Linsell from TheClose.com gives a review of his experience in Inman Connect Las Vegas Conference. Chris and DJ discuss the changes that are being seen in the real estate ecosystem and current technological advancements in the industry. Chris also shares his experience from the stage of Inman Connect. Last, Chris explains why he believes this is the time for agents to start or join teams if that was something in their mind.

If you’d prefer to watch this interview, click here to view on YouTube!

Chris Linsell can be reached at chris@theclose.com.

This episode is brought to you by Real Geeks and FollowUpBoss.

Transcript

D.J. Paris 0:00
Did you miss Inman Connect in Las Vegas? I did. But today we have one of their speakers on the show Chris Lin sell from the clothes. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren’t converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod. And now on to our show.

Welcome to keeping it real with the largest podcast made by real estate agents and for real estate agents. My name is DJ Parris. I’m your guide and host to the show today is our monthly series, closing time with Chris Lynn sell from the closed.com. It’s a partnership between keeping it real in the clothes. Let me tell you about the clothes. The clothes.com is the kind of real estate website designed to give agents teams and brokerages. actionable strategic insight from industry professionals, they cover real estate marketing lead gen. Tech and team building strategies from the perspective of working agents and brokers who want to take their business to the next level. By the way, before I continue, I also wanted to mention a great place to see tech reviews. If you’re considering investing in some real estate technology for your business. It’s a great place to see unbiased reviews and they go deep. So if you’re trying to figure out the best CRM or lead source or all sorts of other products and services in the tech space for realtors, that’s another great reason to visit the close. But sorry, I got I got I screwed up my own live read, because I was so excited to tell you about their reviews. But in addition to that, please visit the clothes.com and just make sure everyone knows that the close th e Cl O S E just like it sounds and the very least subscribe to their newsletter so you can get notified each time they publish a long form article with us as is. With us as a homeboy I’m having trouble with us, as always is crystallin Sal, he is a staff writer and real estate coach for the close. Now Chris is the closest resident expert on real estate topics ranging from marketing lead generation, transactional best practices and everything in between. He’s a licensed agent in the state of Michigan. And Chris has been part of hundreds of real estate transactions from modest rural starter homes to massive waterside compounds. And when he isn’t writing, you’ll find Chris fly fishing or performing on the stage of his community theaters production. Chris Welcome once again to keeping it real.

Chris Linsell 3:30
DJ, you made it that was made it through. That was an adventure to get to the well end of that.

D.J. Paris 3:37
Yeah, I yeah, I was with some friends last night, who were some guys that that I’m very close with. And I’m in my mid 40s, they are in their late 60s, early 70s. And so what’s really great is we get together regularly and I get to sort of get it get a little preview of maybe some of the challenges that are will be coming as I get to that age. And I realized that that mostly they have the same challenges that that us younger guys may have right now. But it’s like your relationship issues job, you know, all the all the same sort of things we deal with, but they have a lot of health issues. And we were chatting last night and one of the one of the main things I’ve learned from from these men is that they start to worry that they’re starting to lose their mind because they have these little episodes where they make a mistake that they don’t think they should make. And then they go hmm, is my memory failing, do I have dementia? And so there’s this constant worry. And so I was just thinking about that. Like maybe there’s something wrong with me. Or I’m just having a one of those days. So anyway, I’m excited to to spend today with you because we always have great conversation and you just came back from the Inman conference, the admin slack conference. I would love to hear how that went for you and you spoke at the conference.

Chris Linsell 4:55
Yeah, it was. It was a good time for those who are not familiar With Inman it’s this little website honestly there really nothing to sneeze at. I’m of course joking inman.com, one of the, you know, one of the founders, I would say, of the real estate news and journalism space online. Certainly a competitor of the close to some degree, though, frankly, we kind of play in different ballgames. They focus a lot on news, current events, you know, what’s happening today, in in markets across the country, and sometimes across the world. And we’ll run the close focus more on evergreen content strategies, best practices, that sort of thing. So you know, even though we have some of the some crossover audiences, we really do different things. And so we’re always excited to attend Inman conferences, Inman puts on great, great live events. The Inman Connect conference happens twice a year, once in Las Vegas, once in New York City. And the last two weeks ago or a week ago, I can’t remember now feels two weeks ago, was the Inman Connect Las Vegas conference. And yeah, it was quite quite an events, I want to I’d love to go through some details share a little bit with you. So, you know, let’s let’s kind of break this into this combo and into a few pieces here. The Inman conference for anybody who hasn’t gone really is there’s really four main things you got to think about. The first is the expo, there’s a ton of people just like it. Most real estate conferences, there’s a lot of companies there representing their wares and showing off what they’re doing a lot of tech, they’re pretty cool stuff to talk about. So you got the expo, you’ve got the the presentations, I was fortunate enough to be asked to present this year. So talk about that. The third thing that is the access, you get access to a lot of kind of movers and shakers in the real estate space that you don’t normally get access to. And then the fourth thing is the community, you have a lot of agents that come together, Inman Connect conferences, just they’re not cheap. But they are a kind of a full throated experience in the real estate space. And so you connect with a lot of like minded agents when you go because you know, everyone’s pretty committed there. So definitely a cool experience. Let’s chat a little bit about first, I guess about the expo, I saw so many cool tech companies on display at the expo and a big takeaway. I’d love to get your your thoughts on this TJ is one of the things I saw was a real conscious move away from companies that are straight up and down lead generation companies and a move towards companies that are more marketing companies that have lead generation maybe as a component. But it’s more about this holistic presentation, rather than just like a straight up. Zillow is just going to put names in your email box or bold leads is just going to put names in your CRM. And that’s it. That’s all they do. I was in a really interesting kind of conscious move away. I’m curious if you’ve seen or observed any of that, or if you have any thoughts on that?

D.J. Paris 8:29
I do. And I have seen that. And I’ve actually seen it in other industries as well. I think when Salesforce came about in the software tech space, for those of you that aren’t familiar, you probably know the name. But if you might not know what Salesforce does, they’re their CRM. So they basically created the what arguably is the most fully featured CRM on the planet. And they got a lot of enterprise level clients, big corporations to buy in and use that as their CRM. And then they started to build ancillary products to really, you know, they got you, they got the entire sales team of an organization in Salesforce. And that’s how their Salesforce navigates through through purchase through orders, and clients. And then they said, now we can create some HR resources and we can create billing and, and payments and all sorts of other products so that they create this created this eco system that has just been tremendously successful for them. And so I started to notice that real estate firms obviously have taken notice. And of course, much like Apple or Google likes you to be, you know, fully utilizing their products. Google does it sort of for free. You know, Apple’s more of a paid model, but they’re both very similar. They want you utilizing their ecosystem so that you don’t leave and you use all their products. I’ve noticed that in the real estate space. In particular, there’s companies that are in major acquisition mode. Lone Wolf is an obvious example where they have gone out and boy, they seems like they bought just about everybody and And full disclosure I like I’m very friendly with the lone wolf guys, but it isn’t a plug for them. But I’m very impressed by how they’ve tried to round out their portfolio with with just lots of different products and services. Zillow is attempting to do a similar thing I was I was fortunate enough to get to go to a Zillow conference earlier this year, and they talked about creating more products for brokerages, more products for the consumer, so that it’s not just a place to search for property for a consumer, it’s now a place to get a lot of different things done. And they’re looking to roll that out. So I this whole idea of of the eco system being you know, I mean, because if we think about it, you know, look dotloop is a really good example of something that has so much potential to do more, in my opinion, I got to meet the I forgot his name, but but the CEO of or the president of dotloop. And I said, Oh my gosh, you guys, you’re only doing DOCUMENT MANAGEMENT right now, I can’t wait to see what you have next because so many brokerages utilize DocuSign or dot loop or or zip forms, or any of the you know, these these e signature platforms. And yet, we also use 10 other systems for other other services. And, and boy, it would be nice to to use one service, maybe even pay a little bit more for the convenience of doing everything in one location. So anyway, I’m sorry, that was a very long answer. But I have noticed this this, what I see as a trend to try to kind of do what financial advisors do. Financial Advisors used to be stockbrokers years and years and years ago, they don’t really exist much anymore. But it was, hey, I got a hot stock tip for you, let’s make you some money, then it became law, I don’t just want that money. I want 100% of someone’s net worth. And I now want to manage all of their assets. And I’m going to take a percentage of those assets under management. That’s where I see sort of some of these tech acquisitions and new offerings coming to be but I’m curious to your thoughts.

Chris Linsell 11:53
Yeah, I completely agree. I think, to your point lonewolf was at the conference. constellation was at the conference. Elm Street was at the conference. Zillow was at the conference, but not as Zillow, this, I mean, I mean, they were there as Zillow. But there was not a single place where they were, you know, a booth or a stage or a presentation where they, you know, Zillow was there to, you know, kind of acquiesce on the on the virtues of Zillow premier agent, it was more of here’s what we’re doing at Zillow to support your business as a whole, in addition to providing leads, which is a dramatic shift. If anybody can think about the real estate, messaging and marketing to professionals that was happening five or 10 years ago, it was like companies like Zillow, were essentially pointing the firehose of leads at you and just drenching you in more than you could handle. Because it was just leads, leads, leads, volume, volume, volume, all I want are names, names, names, phone numbers, phone numbers, phone numbers, that is certainly something that is still important that we have the opportunity to make the connections that grow our business. But it is a much more holistic approach. And frankly, this was my big takeaway from the expo itself, is there is a startling amount of shift happening from what I would consider at one point to be single use one dimensional products towards this ecosystem approach. And I’m not going to kind of spoil spoil the reveal here. But I’m currently finishing and putting the finishing touches on a, an article for the clothes about the best real estate marketing companies that are out there. And the company that I have named as the best real estate marketing company for 2022 isn’t actually a marketing company, they are coming does something else first. And they provide marketing services as a part of their ecosystem. So you have to watch out for the clothes in the next three or four weeks to see who that gets named. But it was a surprise by and frankly, I didn’t at first want this to be the case. I did not want a provider of another service to be the number one marketing company, but they just can’t get around it. They’re better than anyone else that’s doing it. And it is a real indicator of where the technology space is headed in real estate right now.

D.J. Paris 14:35
Well, I think about this for everyone out there who is utilizing any smart home technology. So if you’re utilizing Google Home or nest, or you’re using you know Amazon’s maybe you’re using an echo be for your thermostat or you’re using Alexa for you know doing smart, smart lighting or whatever automations you might have in your home. If you notice if you’re a daily user of those services. And I am, you’ll notice that even now, they’re both magical and also super clunky. And so what I’m thinking, you know, they work and they sort of don’t work at the same time, they work more than they don’t. But if you if you’re a daily user of automated voice technology, sir automate or services, especially in your home, you’ll, you’ll have some frustrations. And I think the next evolution for tech is to somehow figure out how to round out those smooth edges. And I think a lot of it’s by getting somebody to buy in fully to an ecosystem. And that way, you’re not needing to coordinate your Philips Lighting with your Amazon, you know, Alexa app, and it sort of works and doesn’t, I think there’s going to be this idea that you’re going to pick aside, in this case, maybe Google or Alexa. And you’re just going to go full force because it works better that way. And so I’m wondering if, if if that, you know, maybe you choose Zillow because they might have a bunch of other services that they didn’t have previously, HubSpot is a great example of a company that’s kind of done this already. If you actually ask them. I have friends who work at HubSpot. And I’m always like, I don’t, I can’t exactly put my finger on how to describe what you do, because you sort of do everything. And they go, Yeah, we kind of do. Salesforce is the same thing way. So I’m interested to see how some of these companies begin to integrate their products and services together to make it a more seamless solution for the agent or for the agents client, which is also tricky. I mean, you know, think of, I always think like, you know, even putting somebody on an MLS search, you’re limited by the MLS provider that is in your local area, which may be a good piece of software, it might not be in most cases, our experience. I’ve seen many of these MLS software providers over the years. I’m wildly unimpressed with a lot of the tech that they’ve done. And I’m curious if somebody could come along and just create a better experience for the agent and somehow get the buy in of whatever the local or state associations are to create a more holistic approach so that the agent has a better experience in the client as well. I want to pause for a moment to talk about our episode sponsor are one of my favorite companies out there follow up boss. Now after interviewing hundreds of top Realtors in the country for this podcast, do you know which CRM is used by more than any other by our guests. Of course, it is a follow up boss. And let’s face it, following up is the key to taking your business to the next level follow up boss will help you drive more leads in less time and with less effort. Do not take my word for Robert slack, who runs the number one team in the US uses follow up boss and he has built a one and a half billion dollar business in just six years. Follow up boss integrates with over 250 systems, so you can keep your current tools and lead sources. Also, the best part they have seven day a week support. So you’ll get the help that you need when you need it and get this follow up boss is so sure that you’re going to love their CRM that for a limited time, they’re offering keeping it real listeners a 30 day free trial, which is twice as much time as they give everyone else and oh yeah, no credit card required. So you can try it risk free. But only if you use this special link visit follow up boss.com forward slash real that’s follow up boss.com forward slash real for your free 30 day trial. Follow up like a boss with follow up boss. And now back to our episode.

Chris Linsell 18:34
Yeah, I agree. And you know, the interesting, I think component to kind of the end game of all of this to me is that to some degree, there is going to be a dependency on these kind of exclusive data sources like MLS has to really determine whether or not these sorts of end to end solutions are feasible. A good example of this is I got a demo yesterday. Again, I’m not at liberty to say who gave me the demo, but I will say it was for a brand underneath one of these big umbrella companies. And one of the things that they are working on the reason I’m getting this demo is that they think that they have made a breakthrough in how to manage scheduled posts across various social networks, which have notoriously been difficult to kind of API to connect to a third party platform to schedule posts

D.J. Paris 19:46
talking about services that that previously have existed that you may be familiar with like Hootsuite buffer, those those services Yeah, and it’s Yeah, okay. I’m sorry, didn’t mean No,

Chris Linsell 19:57
no, you’re totally you’re right on the right track and so I’m in fact, I’ll go as far as, say I have used. I’m a Hootsuite user to use buffer in the past all tools that have been really helpful for me, except when I want to say, go to LinkedIn, and I want to make a LinkedIn post, I can schedule a post great, but I can’t tag somebody in the the buffer scheduler, and I can’t post the sort of, like, additional add ons that I could do. Like when I’m working on the platform on the LinkedIn native platform. And it kind of creates this kind of hitch in the gidea. Because if I have to, if I can schedule a post, great, but when the post goes live, I have to go to LinkedIn, I have to edit the post, I have to tag in the people I want to tag, I have to tag the photos, all the stuff that I couldn’t do off platform, I’m actually not saving any time here. In fact, I’m kind of adding to my time it feels like, well, the company I was talking to yesterday, thinks they may have cracked that when it comes to Instagram and Facebook. And so again, it just points to the fact that these companies that are working to bring these umbrella experiences together, ultimately are going to be dependent on these kind of sticky, external tools that don’t always play nice with other tools. If somebody can figure that those those kind of sticking points out. It’s game set match. I mean, there there will be a it won’t just be a walk, it’ll be a run to the companies who can bring together all of those stacked kind of disconnected tools into one place on a single dashboard. I think we’re actually getting closer to that. And actually that kind of reminds me of kind of the next thing I wanted to talk about, which was from the main stage of the Inman Connect conference heard a lot of really interesting people, but the standout for me is a heard a presentation from Fredrik Eklund is this does that name ring a bell to you? It does, but I don’t know why. Yeah, so he was one of the original million dollar listings guys on brass. Very, very big personality. His volume knob is cranked up to 11. And Brian broken off I mean, the he never does not fail to, to entertain on the TV basically. And he is he was there giving interviews. He’s co founder in a company called Real, which is basically bringing together the the a lot of the functionality of Zillow, but with the communication opportunities of like, Instagram and WhatsApp. So is much more of a like, real time conversation with leads instead of this kind of disconnected, request information from Zillow, they pass along the information, you have to get back to the lead and figure out how to make a connection. I’m not pitching the real product, though it does sound interesting. I’m excited to get my hands on it. But what I am, what I took away from this was that there are the A very common theme and the presentations at the Inman Connect conference was that it is going to take not just the kind of big brains of the real estate tech space, but the advocacy of the leaders of our industry in order to motivate and create those opportunities for breakthroughs on these connectivity issues. Like you’ve got to get the the influencers out in front of audiences who are listening to say, hey, we want this in order to make changes, and Eklund inferred that this needs to happen on the local level to like if you are a leader in your local market, and you think I hope my language isn’t too harsh here. But if you think that your MLS sucks, and that you the way that data is dispensed and dispersed from your local market is terrible. And you deserve better. You need to get in front of your board and say that you can’t just sit back and hope somebody else does it. The leaders especially but everyone, go to your local board meetings, speak up and say, Hey, listen, this sucks. This is terrible. We have competitors who do this so much better than us. Stop taking my damn money to pad your own pockets and do something with it. And I was a little taken aback by how provocative That statement was. But the more I think about it, like this is so in line with kind of the advocacy approach to real estate that I’ve always carried a banner for myself. It’s just kind of pointed in a different direction. And I really think that it’s a message that hits right now. What do you think about that?

D.J. Paris 24:53
Well, I do some I serve on a few committees at our local level here and I will one of mine is called member care taskforce which is specifically to facilitate feedback from from the realtors here in Chicago and find out number one, what the what the what the, the local association can do better for its members, but also to find out what the members think of certain tools that are being offered and trainings. And, and you know, it’s funny because I’m literally sit on a committee that would love nothing more than to send out a survey every single week to every realtor in Chicago and say, What are we doing right? What are we doing wrong? That is literally our job is to figure that out. Of course, we can’t send out that sort of survey too often. But I will tell you people are listening, because there are member care tasks for task forces on on many associations. And all you have to do is just lob a phone call over and say, Hey, I have a suggestion for the association. Where do I direct that? I promise you, I mean, look, every association is different. But I promise you at least that our Association, the Chicago Association of Realtors, we listen, we’re not perfect, but boy, our jobs are dependent upon law. I don’t work for them, but but the people who do work for them, their jobs are dependent upon having paying members, so the only reason they exist. And and so you they’re you’re their boss, and in a sense, you’re not going to tell them what to do, but you’re going to offer suggestions about and remember, most of those people aren’t practicing agents, right? These are people in fact, in a lot of cases, they’re not allowed to practice the employees that most associations are my understanding is are not are not out there practicing. They’re not allowed to so they don’t really know what’s going on, unless you tell them.

Chris Linsell 26:39
Yeah, that’s that’s the truth. And that kind of leads kind of into the the third thing I wanted to talk about, which was my experience, specifically from the, from the stage at and then I spoke on the topic of recession proofing your brokerage business. And though my message wasn’t quite as provocative as acklins was, I did say a couple of things that, you know, I think are in the same vein, as far as understanding the real estate professionals, not just responsibility, but opportunity to be a leader, specifically in a changing market. So I won’t go too deep into it. But essentially, one of the things I said from the stage was asked a question about, you know, not just what brokerages can do to kind of recession proof and shore up their business, but what can agents do to and I said, this is actually a time right now where you have an opportunity to get off your, your heels and onto your toes before everyone else, and do some scooping. And the scoops that you get to get here are one as a high performing agent, you have to recognize that the needs of your buyers and sellers are going to change. The agents who do it poorly, are going to be reactive to that change and try to shift their business and their offerings. After they see those changes happening. The agents who are leaders and are going to be successful and make a lot of money through recessions are going to be the ones who are proactively changing their business offerings, their messaging, their branding, and their positioning. So recognize and predict how your client’s needs are going to change because we’re still gonna buy buying and selling houses is just going to be for different reasons. To start with, start getting a game plan for your changing of your of your marketing, branding and positioning now and be ready to pull that trigger when you see that change on the on the way. And then the other thing that this is one I got a lot of conversation about afterwards, we’ll get to that way is I told folks to remember, we’ve been in boom time in the real estate space for a couple of years now. There are a hell of a lot of real estate agents who joined our profession, when times were great. And they didn’t need to be an expert just yet, because there was so much demand for buying and so much activity in the space that you could be kind of mediocre at your job and still get some transactions done. We are not going to be in that place when the recession of the US economic recession kind of rolls through. And so as a successful agent, you need to recognize the fact that there’s going to be a heck of a lot of agents in the next six months who are going to be considering going back to bartending. These are people who have real estate licenses. They have their licenses hung at reputable brokerages. These are people who are considering quitting. Now is the time to build a team because you have a huge labor pool to pull from, you have people who want to be successful but don’t have the skills or the experience to be successful. If you’ve been thinking about starting a team, the next six months is absolutely when you should be doing it.

D.J. Paris 30:14
I’m a recruiter. So I will tell you, and this is something that I wish I wasn’t necessarily saying to our audience, but I’ll tell you the truth. I think brokerages, especially smaller brokerages, and we have almost 800 agents, which sounds like we’re this massive brokerage, but in reality, we think of ourselves as more of a small brokerage. And that’s not a false humility thing we adjust. That’s kind of how we operate. I will tell you the two biggest things work well, the thing we’re most afraid of is, is losing agents. Because as as we know that transactions are down everyone’s feeling that, of course, as Chris was saying, a lot of people who are part timers or people that haven’t had a tremendous amount of successful time are going to find other things to do with their with their time because they’re not paying the bills. So from a retention perspective brokerages are I would I would hope, who deal with not just top producers, people who, you know, will fall off a bit when when the when as the the economy change, or the the home buying market and selling market changes, and it has changed, these are people going to leave the industry or at least find other alternatives to supplement their income. So we’re scared about that. But I’m from a recruiting perspective, I am very excited, because right now is the time as we start to see production really decreased for even top producers. I mean, if it’s if it’s hitting the top, most top producers and I know lots of them, and they’re all telling me that their production is down. These are people at the top 1% level across the country. I just spoke to a top agent in I forgot what county in in, in California. It’s one of the top counties in the country anyway. He’s like, I can’t believe it. My production is down to this is a guy who sells on average, like $2 million homes is median price. So the point is it’s hitting. So what are people? What do people do when when their productions down, they start looking for other alternatives or looking for other brokerages. So, team building, really, you know, if you’re building a team, you’re no different from me recruiting for my agency, you’re just recruiting for your team, people are struggling right now brokers or agents are struggling, this is a time to you know, consider building a team and thinking about holistically as you approach a client to be able to say, here’s my team, here’s what we do, it’s not just me, we have people helping out in different capacities, that’s a much you could argue not for everybody. But for a lot of consumers. That’s a strong sales pitch. And you have this opportunity to even consider, at some point bringing on those team members with maybe salaries as opposed to cutting them in on the Commission where I’m starting to see that at certain firms as well in certain teams. So a lot of opportunity to pick up. Realtors I keep wanting to say brokers because in Illinois, everyone’s a broker, but it will just say agents picking up agents, this isn’t that this is the time where people start to freak out.

Chris Linsell 33:09
Yeah, big time. In fact, I you hit on the on something that I am glad you mentioned because I was were hesitant to bring it up. But the salaried model is something again, when whenever economies shift, people consider other options you can offer people, if you’ve got the infrastructure to do it, a steady income that puts you out in front of you know, of the cost of that, of that labor, by leaps and bounds. And one one model that I really liked. And I’ve seen a lot of teams recently starting to institute is this idea of a salary or an hourly wage plus a, they call a bonus for closing. And so and you can only offer that to somebody who is licensed, technically, there are ways to kind of structure it semantically. So unlicensed folks can be a part of that as well. But you know, this idea that you can essentially pay 15 bucks an hour, you know, or right around there, and then offer a small bonus on top of on top of that, that, you know, hourly or guaranteed for closings can bring your labor costs down significantly. I mean, they’re I mean, we’re talking 3040 50% For us based workers. That’s a game changer. If you’ve always wanted to start a team but you feel like the margins aren’t quite right. I’m telling you. This is I mean, shoot, we might have to stop doing this podcast so I can go back and start a team full time at this point because like I genuinely can see the writing on the wall in my own mind. Okay, everybody should be doing this right now.

D.J. Paris 35:02
Yeah, it’s a great, great thing to consider. And right now is when, you know, a lot of agents are just struggling and so strim know, if if, if your production is down, or if your team’s production is down, or if you’re an individual agent thinking of leaving the business, I also think now’s a great opportunity for you to reach out to teams and say, Hey, I’m struggling right now, do you have an opportunity for me, maybe not waiting for the teams to reach out to you reach out to teams, I tell you, teams are growing. They’re growing, growing, growing. And and I suspect if you reached out to five different teams, three of them would say we can, we can work something out. So this is an opportunity, at least the teams I know here locally, are like, we just need more bodies. You know, this is where there’s a labor shortage and a lot of different sectors of the economy right now, finding good health is always a challenge. And if you want to get more steady income, and you want to work out some sort of plan, maybe you’re taking just a little tiny percentage of the profit of the team, but you’re getting a steady income, and then maybe that can change over time. This is a great time to have those conversations.

Chris Linsell 36:09
And so And to that point, I just put a bow on this year, the two biggest voices as far as sponsorship at the inland connect conference were side and exp both are brokerage models that are built on the idea that teams are essential for the future of real estate.

D.J. Paris 36:29
Yeah, it’s it’s really interesting. Well, Chris, I know, I know, this is a great probably pipes place to wrap up this this conversation today. And we want to thank Chris, as always, for giving us some insight on what we missed at the admin at the admin conference, I have been to the to the New York Conference before it is exceptional. I’ve not yet been to Las Vegas. And I always think, you know, yeah, maybe it’ll run you $1,000 or so maybe more, more, probably more when you’re dealing with travel. But boy, you will get you will get at least a few good tidbits. So huge fan of those types of conferences. And anyway, I want to just thank Chris for sharing with us what the what the majority of us missed by not attending. And also want to thank you for your just insights in general, and congratulations on speaking you speak at a lot of these, but it is so impressive that we get to have you as well. So I’m very happy for that. And for everyone who is listening, please visit the closed.com. They also have a subscription model 95% of what they offer is completely free, not behind a paywall. But if you want to take it to the next level, they have a incredibly reasonable pricing model for getting to that additional level of coaching support and training. And it’s what $1 or so a day

Chris Linsell 37:44
roughly. Yeah, it’s really cheap, even less.

D.J. Paris 37:48
Boy, I would to get one good idea that might get you one sale. You know if that’s all you ever got on boy you’d make it’d be a nice ROI for the year. So definitely it’s called the clothes Pro. So visit the clothes.com number one read their articles they’re I think they’re the very best with respect to tech reviews, marketing information and just overall advice about what to do in your business. But then also consider subscribing to the close pro it’s incredibly inexpensive it’s kind of a no brainer honestly. So and you can get to cancel anytime scenario I believe as well. So definitely check that out. And Chris, I know you got to run so thank you so much. Please everyone go visit the clothes tell everyone about the clothes and of course also about our podcasts. Let’s let’s let’s keep our viewership and our listenership numbers increasing and we thank you for helping us do that. So Chris, we will see you next next month.

Chris Linsell 38:39
It was a pleasure. Can’t wait to talk to you today Express

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Welcome to our monthly feature, Close-ing Time – in partnership with TheClose.com.

Chris Linsell from TheClose.com gives a review of his experience in Inman Connect Las Vegas Conference. Chris and DJ discuss the changes that are being seen in the real estate ecosystem and current technological advancements in the industry. Chris also shares his experience from the stage of Inman Connect. Last, Chris explains why he believes this is the time for agents to start or join teams if that was something in their mind.

If you’d prefer to watch this interview, click here to view on YouTube!

Chris Linsell can be reached at chris@theclose.com.

This episode is brought to you by Real Geeks and FollowUpBoss.

Transcript

D.J. Paris 0:00
Did you miss Inman Connect in Las Vegas? I did. But today we have one of their speakers on the show Chris Lin sell from the clothes. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren’t converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solution so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod. And now on to our show.

Welcome to keeping it real with the largest podcast made by real estate agents and for real estate agents. My name is DJ Parris. I’m your guide and host to the show today is our monthly series, closing time with Chris Lynn sell from the closed.com. It’s a partnership between keeping it real in the clothes. Let me tell you about the clothes. The clothes.com is the kind of real estate website designed to give agents teams and brokerages. actionable strategic insight from industry professionals, they cover real estate marketing lead gen. Tech and team building strategies from the perspective of working agents and brokers who want to take their business to the next level. By the way, before I continue, I also wanted to mention a great place to see tech reviews. If you’re considering investing in some real estate technology for your business. It’s a great place to see unbiased reviews and they go deep. So if you’re trying to figure out the best CRM or lead source or all sorts of other products and services in the tech space for realtors, that’s another great reason to visit the close. But sorry, I got I got I screwed up my own live read, because I was so excited to tell you about their reviews. But in addition to that, please visit the clothes.com and just make sure everyone knows that the close th e Cl O S E just like it sounds and the very least subscribe to their newsletter so you can get notified each time they publish a long form article with us as is. With us as a homeboy I’m having trouble with us, as always is crystallin Sal, he is a staff writer and real estate coach for the close. Now Chris is the closest resident expert on real estate topics ranging from marketing lead generation, transactional best practices and everything in between. He’s a licensed agent in the state of Michigan. And Chris has been part of hundreds of real estate transactions from modest rural starter homes to massive waterside compounds. And when he isn’t writing, you’ll find Chris fly fishing or performing on the stage of his community theaters production. Chris Welcome once again to keeping it real.

Chris Linsell 3:30
DJ, you made it that was made it through. That was an adventure to get to the well end of that.

D.J. Paris 3:37
Yeah, I yeah, I was with some friends last night, who were some guys that that I’m very close with. And I’m in my mid 40s, they are in their late 60s, early 70s. And so what’s really great is we get together regularly and I get to sort of get it get a little preview of maybe some of the challenges that are will be coming as I get to that age. And I realized that that mostly they have the same challenges that that us younger guys may have right now. But it’s like your relationship issues job, you know, all the all the same sort of things we deal with, but they have a lot of health issues. And we were chatting last night and one of the one of the main things I’ve learned from from these men is that they start to worry that they’re starting to lose their mind because they have these little episodes where they make a mistake that they don’t think they should make. And then they go hmm, is my memory failing, do I have dementia? And so there’s this constant worry. And so I was just thinking about that. Like maybe there’s something wrong with me. Or I’m just having a one of those days. So anyway, I’m excited to to spend today with you because we always have great conversation and you just came back from the Inman conference, the admin slack conference. I would love to hear how that went for you and you spoke at the conference.

Chris Linsell 4:55
Yeah, it was. It was a good time for those who are not familiar With Inman it’s this little website honestly there really nothing to sneeze at. I’m of course joking inman.com, one of the, you know, one of the founders, I would say, of the real estate news and journalism space online. Certainly a competitor of the close to some degree, though, frankly, we kind of play in different ballgames. They focus a lot on news, current events, you know, what’s happening today, in in markets across the country, and sometimes across the world. And we’ll run the close focus more on evergreen content strategies, best practices, that sort of thing. So you know, even though we have some of the some crossover audiences, we really do different things. And so we’re always excited to attend Inman conferences, Inman puts on great, great live events. The Inman Connect conference happens twice a year, once in Las Vegas, once in New York City. And the last two weeks ago or a week ago, I can’t remember now feels two weeks ago, was the Inman Connect Las Vegas conference. And yeah, it was quite quite an events, I want to I’d love to go through some details share a little bit with you. So, you know, let’s let’s kind of break this into this combo and into a few pieces here. The Inman conference for anybody who hasn’t gone really is there’s really four main things you got to think about. The first is the expo, there’s a ton of people just like it. Most real estate conferences, there’s a lot of companies there representing their wares and showing off what they’re doing a lot of tech, they’re pretty cool stuff to talk about. So you got the expo, you’ve got the the presentations, I was fortunate enough to be asked to present this year. So talk about that. The third thing that is the access, you get access to a lot of kind of movers and shakers in the real estate space that you don’t normally get access to. And then the fourth thing is the community, you have a lot of agents that come together, Inman Connect conferences, just they’re not cheap. But they are a kind of a full throated experience in the real estate space. And so you connect with a lot of like minded agents when you go because you know, everyone’s pretty committed there. So definitely a cool experience. Let’s chat a little bit about first, I guess about the expo, I saw so many cool tech companies on display at the expo and a big takeaway. I’d love to get your your thoughts on this TJ is one of the things I saw was a real conscious move away from companies that are straight up and down lead generation companies and a move towards companies that are more marketing companies that have lead generation maybe as a component. But it’s more about this holistic presentation, rather than just like a straight up. Zillow is just going to put names in your email box or bold leads is just going to put names in your CRM. And that’s it. That’s all they do. I was in a really interesting kind of conscious move away. I’m curious if you’ve seen or observed any of that, or if you have any thoughts on that?

D.J. Paris 8:29
I do. And I have seen that. And I’ve actually seen it in other industries as well. I think when Salesforce came about in the software tech space, for those of you that aren’t familiar, you probably know the name. But if you might not know what Salesforce does, they’re their CRM. So they basically created the what arguably is the most fully featured CRM on the planet. And they got a lot of enterprise level clients, big corporations to buy in and use that as their CRM. And then they started to build ancillary products to really, you know, they got you, they got the entire sales team of an organization in Salesforce. And that’s how their Salesforce navigates through through purchase through orders, and clients. And then they said, now we can create some HR resources and we can create billing and, and payments and all sorts of other products so that they create this created this eco system that has just been tremendously successful for them. And so I started to notice that real estate firms obviously have taken notice. And of course, much like Apple or Google likes you to be, you know, fully utilizing their products. Google does it sort of for free. You know, Apple’s more of a paid model, but they’re both very similar. They want you utilizing their ecosystem so that you don’t leave and you use all their products. I’ve noticed that in the real estate space. In particular, there’s companies that are in major acquisition mode. Lone Wolf is an obvious example where they have gone out and boy, they seems like they bought just about everybody and And full disclosure I like I’m very friendly with the lone wolf guys, but it isn’t a plug for them. But I’m very impressed by how they’ve tried to round out their portfolio with with just lots of different products and services. Zillow is attempting to do a similar thing I was I was fortunate enough to get to go to a Zillow conference earlier this year, and they talked about creating more products for brokerages, more products for the consumer, so that it’s not just a place to search for property for a consumer, it’s now a place to get a lot of different things done. And they’re looking to roll that out. So I this whole idea of of the eco system being you know, I mean, because if we think about it, you know, look dotloop is a really good example of something that has so much potential to do more, in my opinion, I got to meet the I forgot his name, but but the CEO of or the president of dotloop. And I said, Oh my gosh, you guys, you’re only doing DOCUMENT MANAGEMENT right now, I can’t wait to see what you have next because so many brokerages utilize DocuSign or dot loop or or zip forms, or any of the you know, these these e signature platforms. And yet, we also use 10 other systems for other other services. And, and boy, it would be nice to to use one service, maybe even pay a little bit more for the convenience of doing everything in one location. So anyway, I’m sorry, that was a very long answer. But I have noticed this this, what I see as a trend to try to kind of do what financial advisors do. Financial Advisors used to be stockbrokers years and years and years ago, they don’t really exist much anymore. But it was, hey, I got a hot stock tip for you, let’s make you some money, then it became law, I don’t just want that money. I want 100% of someone’s net worth. And I now want to manage all of their assets. And I’m going to take a percentage of those assets under management. That’s where I see sort of some of these tech acquisitions and new offerings coming to be but I’m curious to your thoughts.

Chris Linsell 11:53
Yeah, I completely agree. I think, to your point lonewolf was at the conference. constellation was at the conference. Elm Street was at the conference. Zillow was at the conference, but not as Zillow, this, I mean, I mean, they were there as Zillow. But there was not a single place where they were, you know, a booth or a stage or a presentation where they, you know, Zillow was there to, you know, kind of acquiesce on the on the virtues of Zillow premier agent, it was more of here’s what we’re doing at Zillow to support your business as a whole, in addition to providing leads, which is a dramatic shift. If anybody can think about the real estate, messaging and marketing to professionals that was happening five or 10 years ago, it was like companies like Zillow, were essentially pointing the firehose of leads at you and just drenching you in more than you could handle. Because it was just leads, leads, leads, volume, volume, volume, all I want are names, names, names, phone numbers, phone numbers, phone numbers, that is certainly something that is still important that we have the opportunity to make the connections that grow our business. But it is a much more holistic approach. And frankly, this was my big takeaway from the expo itself, is there is a startling amount of shift happening from what I would consider at one point to be single use one dimensional products towards this ecosystem approach. And I’m not going to kind of spoil spoil the reveal here. But I’m currently finishing and putting the finishing touches on a, an article for the clothes about the best real estate marketing companies that are out there. And the company that I have named as the best real estate marketing company for 2022 isn’t actually a marketing company, they are coming does something else first. And they provide marketing services as a part of their ecosystem. So you have to watch out for the clothes in the next three or four weeks to see who that gets named. But it was a surprise by and frankly, I didn’t at first want this to be the case. I did not want a provider of another service to be the number one marketing company, but they just can’t get around it. They’re better than anyone else that’s doing it. And it is a real indicator of where the technology space is headed in real estate right now.

D.J. Paris 14:35
Well, I think about this for everyone out there who is utilizing any smart home technology. So if you’re utilizing Google Home or nest, or you’re using you know Amazon’s maybe you’re using an echo be for your thermostat or you’re using Alexa for you know doing smart, smart lighting or whatever automations you might have in your home. If you notice if you’re a daily user of those services. And I am, you’ll notice that even now, they’re both magical and also super clunky. And so what I’m thinking, you know, they work and they sort of don’t work at the same time, they work more than they don’t. But if you if you’re a daily user of automated voice technology, sir automate or services, especially in your home, you’ll, you’ll have some frustrations. And I think the next evolution for tech is to somehow figure out how to round out those smooth edges. And I think a lot of it’s by getting somebody to buy in fully to an ecosystem. And that way, you’re not needing to coordinate your Philips Lighting with your Amazon, you know, Alexa app, and it sort of works and doesn’t, I think there’s going to be this idea that you’re going to pick aside, in this case, maybe Google or Alexa. And you’re just going to go full force because it works better that way. And so I’m wondering if, if if that, you know, maybe you choose Zillow because they might have a bunch of other services that they didn’t have previously, HubSpot is a great example of a company that’s kind of done this already. If you actually ask them. I have friends who work at HubSpot. And I’m always like, I don’t, I can’t exactly put my finger on how to describe what you do, because you sort of do everything. And they go, Yeah, we kind of do. Salesforce is the same thing way. So I’m interested to see how some of these companies begin to integrate their products and services together to make it a more seamless solution for the agent or for the agents client, which is also tricky. I mean, you know, think of, I always think like, you know, even putting somebody on an MLS search, you’re limited by the MLS provider that is in your local area, which may be a good piece of software, it might not be in most cases, our experience. I’ve seen many of these MLS software providers over the years. I’m wildly unimpressed with a lot of the tech that they’ve done. And I’m curious if somebody could come along and just create a better experience for the agent and somehow get the buy in of whatever the local or state associations are to create a more holistic approach so that the agent has a better experience in the client as well. I want to pause for a moment to talk about our episode sponsor are one of my favorite companies out there follow up boss. Now after interviewing hundreds of top Realtors in the country for this podcast, do you know which CRM is used by more than any other by our guests. Of course, it is a follow up boss. And let’s face it, following up is the key to taking your business to the next level follow up boss will help you drive more leads in less time and with less effort. Do not take my word for Robert slack, who runs the number one team in the US uses follow up boss and he has built a one and a half billion dollar business in just six years. Follow up boss integrates with over 250 systems, so you can keep your current tools and lead sources. Also, the best part they have seven day a week support. So you’ll get the help that you need when you need it and get this follow up boss is so sure that you’re going to love their CRM that for a limited time, they’re offering keeping it real listeners a 30 day free trial, which is twice as much time as they give everyone else and oh yeah, no credit card required. So you can try it risk free. But only if you use this special link visit follow up boss.com forward slash real that’s follow up boss.com forward slash real for your free 30 day trial. Follow up like a boss with follow up boss. And now back to our episode.

Chris Linsell 18:34
Yeah, I agree. And you know, the interesting, I think component to kind of the end game of all of this to me is that to some degree, there is going to be a dependency on these kind of exclusive data sources like MLS has to really determine whether or not these sorts of end to end solutions are feasible. A good example of this is I got a demo yesterday. Again, I’m not at liberty to say who gave me the demo, but I will say it was for a brand underneath one of these big umbrella companies. And one of the things that they are working on the reason I’m getting this demo is that they think that they have made a breakthrough in how to manage scheduled posts across various social networks, which have notoriously been difficult to kind of API to connect to a third party platform to schedule posts

D.J. Paris 19:46
talking about services that that previously have existed that you may be familiar with like Hootsuite buffer, those those services Yeah, and it’s Yeah, okay. I’m sorry, didn’t mean No,

Chris Linsell 19:57
no, you’re totally you’re right on the right track and so I’m in fact, I’ll go as far as, say I have used. I’m a Hootsuite user to use buffer in the past all tools that have been really helpful for me, except when I want to say, go to LinkedIn, and I want to make a LinkedIn post, I can schedule a post great, but I can’t tag somebody in the the buffer scheduler, and I can’t post the sort of, like, additional add ons that I could do. Like when I’m working on the platform on the LinkedIn native platform. And it kind of creates this kind of hitch in the gidea. Because if I have to, if I can schedule a post, great, but when the post goes live, I have to go to LinkedIn, I have to edit the post, I have to tag in the people I want to tag, I have to tag the photos, all the stuff that I couldn’t do off platform, I’m actually not saving any time here. In fact, I’m kind of adding to my time it feels like, well, the company I was talking to yesterday, thinks they may have cracked that when it comes to Instagram and Facebook. And so again, it just points to the fact that these companies that are working to bring these umbrella experiences together, ultimately are going to be dependent on these kind of sticky, external tools that don’t always play nice with other tools. If somebody can figure that those those kind of sticking points out. It’s game set match. I mean, there there will be a it won’t just be a walk, it’ll be a run to the companies who can bring together all of those stacked kind of disconnected tools into one place on a single dashboard. I think we’re actually getting closer to that. And actually that kind of reminds me of kind of the next thing I wanted to talk about, which was from the main stage of the Inman Connect conference heard a lot of really interesting people, but the standout for me is a heard a presentation from Fredrik Eklund is this does that name ring a bell to you? It does, but I don’t know why. Yeah, so he was one of the original million dollar listings guys on brass. Very, very big personality. His volume knob is cranked up to 11. And Brian broken off I mean, the he never does not fail to, to entertain on the TV basically. And he is he was there giving interviews. He’s co founder in a company called Real, which is basically bringing together the the a lot of the functionality of Zillow, but with the communication opportunities of like, Instagram and WhatsApp. So is much more of a like, real time conversation with leads instead of this kind of disconnected, request information from Zillow, they pass along the information, you have to get back to the lead and figure out how to make a connection. I’m not pitching the real product, though it does sound interesting. I’m excited to get my hands on it. But what I am, what I took away from this was that there are the A very common theme and the presentations at the Inman Connect conference was that it is going to take not just the kind of big brains of the real estate tech space, but the advocacy of the leaders of our industry in order to motivate and create those opportunities for breakthroughs on these connectivity issues. Like you’ve got to get the the influencers out in front of audiences who are listening to say, hey, we want this in order to make changes, and Eklund inferred that this needs to happen on the local level to like if you are a leader in your local market, and you think I hope my language isn’t too harsh here. But if you think that your MLS sucks, and that you the way that data is dispensed and dispersed from your local market is terrible. And you deserve better. You need to get in front of your board and say that you can’t just sit back and hope somebody else does it. The leaders especially but everyone, go to your local board meetings, speak up and say, Hey, listen, this sucks. This is terrible. We have competitors who do this so much better than us. Stop taking my damn money to pad your own pockets and do something with it. And I was a little taken aback by how provocative That statement was. But the more I think about it, like this is so in line with kind of the advocacy approach to real estate that I’ve always carried a banner for myself. It’s just kind of pointed in a different direction. And I really think that it’s a message that hits right now. What do you think about that?

D.J. Paris 24:53
Well, I do some I serve on a few committees at our local level here and I will one of mine is called member care taskforce which is specifically to facilitate feedback from from the realtors here in Chicago and find out number one, what the what the what the, the local association can do better for its members, but also to find out what the members think of certain tools that are being offered and trainings. And, and you know, it’s funny because I’m literally sit on a committee that would love nothing more than to send out a survey every single week to every realtor in Chicago and say, What are we doing right? What are we doing wrong? That is literally our job is to figure that out. Of course, we can’t send out that sort of survey too often. But I will tell you people are listening, because there are member care tasks for task forces on on many associations. And all you have to do is just lob a phone call over and say, Hey, I have a suggestion for the association. Where do I direct that? I promise you, I mean, look, every association is different. But I promise you at least that our Association, the Chicago Association of Realtors, we listen, we’re not perfect, but boy, our jobs are dependent upon law. I don’t work for them, but but the people who do work for them, their jobs are dependent upon having paying members, so the only reason they exist. And and so you they’re you’re their boss, and in a sense, you’re not going to tell them what to do, but you’re going to offer suggestions about and remember, most of those people aren’t practicing agents, right? These are people in fact, in a lot of cases, they’re not allowed to practice the employees that most associations are my understanding is are not are not out there practicing. They’re not allowed to so they don’t really know what’s going on, unless you tell them.

Chris Linsell 26:39
Yeah, that’s that’s the truth. And that kind of leads kind of into the the third thing I wanted to talk about, which was my experience, specifically from the, from the stage at and then I spoke on the topic of recession proofing your brokerage business. And though my message wasn’t quite as provocative as acklins was, I did say a couple of things that, you know, I think are in the same vein, as far as understanding the real estate professionals, not just responsibility, but opportunity to be a leader, specifically in a changing market. So I won’t go too deep into it. But essentially, one of the things I said from the stage was asked a question about, you know, not just what brokerages can do to kind of recession proof and shore up their business, but what can agents do to and I said, this is actually a time right now where you have an opportunity to get off your, your heels and onto your toes before everyone else, and do some scooping. And the scoops that you get to get here are one as a high performing agent, you have to recognize that the needs of your buyers and sellers are going to change. The agents who do it poorly, are going to be reactive to that change and try to shift their business and their offerings. After they see those changes happening. The agents who are leaders and are going to be successful and make a lot of money through recessions are going to be the ones who are proactively changing their business offerings, their messaging, their branding, and their positioning. So recognize and predict how your client’s needs are going to change because we’re still gonna buy buying and selling houses is just going to be for different reasons. To start with, start getting a game plan for your changing of your of your marketing, branding and positioning now and be ready to pull that trigger when you see that change on the on the way. And then the other thing that this is one I got a lot of conversation about afterwards, we’ll get to that way is I told folks to remember, we’ve been in boom time in the real estate space for a couple of years now. There are a hell of a lot of real estate agents who joined our profession, when times were great. And they didn’t need to be an expert just yet, because there was so much demand for buying and so much activity in the space that you could be kind of mediocre at your job and still get some transactions done. We are not going to be in that place when the recession of the US economic recession kind of rolls through. And so as a successful agent, you need to recognize the fact that there’s going to be a heck of a lot of agents in the next six months who are going to be considering going back to bartending. These are people who have real estate licenses. They have their licenses hung at reputable brokerages. These are people who are considering quitting. Now is the time to build a team because you have a huge labor pool to pull from, you have people who want to be successful but don’t have the skills or the experience to be successful. If you’ve been thinking about starting a team, the next six months is absolutely when you should be doing it.

D.J. Paris 30:14
I’m a recruiter. So I will tell you, and this is something that I wish I wasn’t necessarily saying to our audience, but I’ll tell you the truth. I think brokerages, especially smaller brokerages, and we have almost 800 agents, which sounds like we’re this massive brokerage, but in reality, we think of ourselves as more of a small brokerage. And that’s not a false humility thing we adjust. That’s kind of how we operate. I will tell you the two biggest things work well, the thing we’re most afraid of is, is losing agents. Because as as we know that transactions are down everyone’s feeling that, of course, as Chris was saying, a lot of people who are part timers or people that haven’t had a tremendous amount of successful time are going to find other things to do with their with their time because they’re not paying the bills. So from a retention perspective brokerages are I would I would hope, who deal with not just top producers, people who, you know, will fall off a bit when when the when as the the economy change, or the the home buying market and selling market changes, and it has changed, these are people going to leave the industry or at least find other alternatives to supplement their income. So we’re scared about that. But I’m from a recruiting perspective, I am very excited, because right now is the time as we start to see production really decreased for even top producers. I mean, if it’s if it’s hitting the top, most top producers and I know lots of them, and they’re all telling me that their production is down. These are people at the top 1% level across the country. I just spoke to a top agent in I forgot what county in in, in California. It’s one of the top counties in the country anyway. He’s like, I can’t believe it. My production is down to this is a guy who sells on average, like $2 million homes is median price. So the point is it’s hitting. So what are people? What do people do when when their productions down, they start looking for other alternatives or looking for other brokerages. So, team building, really, you know, if you’re building a team, you’re no different from me recruiting for my agency, you’re just recruiting for your team, people are struggling right now brokers or agents are struggling, this is a time to you know, consider building a team and thinking about holistically as you approach a client to be able to say, here’s my team, here’s what we do, it’s not just me, we have people helping out in different capacities, that’s a much you could argue not for everybody. But for a lot of consumers. That’s a strong sales pitch. And you have this opportunity to even consider, at some point bringing on those team members with maybe salaries as opposed to cutting them in on the Commission where I’m starting to see that at certain firms as well in certain teams. So a lot of opportunity to pick up. Realtors I keep wanting to say brokers because in Illinois, everyone’s a broker, but it will just say agents picking up agents, this isn’t that this is the time where people start to freak out.

Chris Linsell 33:09
Yeah, big time. In fact, I you hit on the on something that I am glad you mentioned because I was were hesitant to bring it up. But the salaried model is something again, when whenever economies shift, people consider other options you can offer people, if you’ve got the infrastructure to do it, a steady income that puts you out in front of you know, of the cost of that, of that labor, by leaps and bounds. And one one model that I really liked. And I’ve seen a lot of teams recently starting to institute is this idea of a salary or an hourly wage plus a, they call a bonus for closing. And so and you can only offer that to somebody who is licensed, technically, there are ways to kind of structure it semantically. So unlicensed folks can be a part of that as well. But you know, this idea that you can essentially pay 15 bucks an hour, you know, or right around there, and then offer a small bonus on top of on top of that, that, you know, hourly or guaranteed for closings can bring your labor costs down significantly. I mean, they’re I mean, we’re talking 3040 50% For us based workers. That’s a game changer. If you’ve always wanted to start a team but you feel like the margins aren’t quite right. I’m telling you. This is I mean, shoot, we might have to stop doing this podcast so I can go back and start a team full time at this point because like I genuinely can see the writing on the wall in my own mind. Okay, everybody should be doing this right now.

D.J. Paris 35:02
Yeah, it’s a great, great thing to consider. And right now is when, you know, a lot of agents are just struggling and so strim know, if if, if your production is down, or if your team’s production is down, or if you’re an individual agent thinking of leaving the business, I also think now’s a great opportunity for you to reach out to teams and say, Hey, I’m struggling right now, do you have an opportunity for me, maybe not waiting for the teams to reach out to you reach out to teams, I tell you, teams are growing. They’re growing, growing, growing. And and I suspect if you reached out to five different teams, three of them would say we can, we can work something out. So this is an opportunity, at least the teams I know here locally, are like, we just need more bodies. You know, this is where there’s a labor shortage and a lot of different sectors of the economy right now, finding good health is always a challenge. And if you want to get more steady income, and you want to work out some sort of plan, maybe you’re taking just a little tiny percentage of the profit of the team, but you’re getting a steady income, and then maybe that can change over time. This is a great time to have those conversations.

Chris Linsell 36:09
And so And to that point, I just put a bow on this year, the two biggest voices as far as sponsorship at the inland connect conference were side and exp both are brokerage models that are built on the idea that teams are essential for the future of real estate.

D.J. Paris 36:29
Yeah, it’s it’s really interesting. Well, Chris, I know, I know, this is a great probably pipes place to wrap up this this conversation today. And we want to thank Chris, as always, for giving us some insight on what we missed at the admin at the admin conference, I have been to the to the New York Conference before it is exceptional. I’ve not yet been to Las Vegas. And I always think, you know, yeah, maybe it’ll run you $1,000 or so maybe more, more, probably more when you’re dealing with travel. But boy, you will get you will get at least a few good tidbits. So huge fan of those types of conferences. And anyway, I want to just thank Chris for sharing with us what the what the majority of us missed by not attending. And also want to thank you for your just insights in general, and congratulations on speaking you speak at a lot of these, but it is so impressive that we get to have you as well. So I’m very happy for that. And for everyone who is listening, please visit the closed.com. They also have a subscription model 95% of what they offer is completely free, not behind a paywall. But if you want to take it to the next level, they have a incredibly reasonable pricing model for getting to that additional level of coaching support and training. And it’s what $1 or so a day

Chris Linsell 37:44
roughly. Yeah, it’s really cheap, even less.

D.J. Paris 37:48
Boy, I would to get one good idea that might get you one sale. You know if that’s all you ever got on boy you’d make it’d be a nice ROI for the year. So definitely it’s called the clothes Pro. So visit the clothes.com number one read their articles they’re I think they’re the very best with respect to tech reviews, marketing information and just overall advice about what to do in your business. But then also consider subscribing to the close pro it’s incredibly inexpensive it’s kind of a no brainer honestly. So and you can get to cancel anytime scenario I believe as well. So definitely check that out. And Chris, I know you got to run so thank you so much. Please everyone go visit the clothes tell everyone about the clothes and of course also about our podcasts. Let’s let’s let’s keep our viewership and our listenership numbers increasing and we thank you for helping us do that. So Chris, we will see you next next month.

Chris Linsell 38:39
It was a pleasure. Can’t wait to talk to you today Express

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