Agent vs Lender

How to overcome the "I'll wait" Mentality in a Crazy Market

August 13, 2020 Ron Pippin
Agent vs Lender
How to overcome the "I'll wait" Mentality in a Crazy Market
Chapters
Agent vs Lender
How to overcome the "I'll wait" Mentality in a Crazy Market
Aug 13, 2020
Ron Pippin

If you are trying to combat buyers telling you they want to wait for a better buyers market, then this is the episode for you! We talk to two of Utah's top real estate agents, Kevin Richter and Jamie Eddy. They share their experienced insight on how they combat reluctant buyers in a constantly changing market.

Show Notes Transcript

If you are trying to combat buyers telling you they want to wait for a better buyers market, then this is the episode for you! We talk to two of Utah's top real estate agents, Kevin Richter and Jamie Eddy. They share their experienced insight on how they combat reluctant buyers in a constantly changing market.

Taylor Archibald :

Hey guys, welcome Agent Vs Lender we are getting started again. So we have Kevin and Jamie on with us and so they are local agents here in the Utah area that we can, we'll let them introduce themselves a little bit more kind of tell us how long they've been in the business. And then we're gonna get into, oh, Kevin said he actually is going to give away some trade secrets today. So yeah, so we're gonna get into that. Kevin, you want to introduce yourself a little bit?

Kevin Richter :

Yeah. I'm Kevin Richter with Richter Real Estate Group. I've been in the business for 14 years. I focus primarily on sellers and I tell you it's been an interesting market. So I'm looking forward to see what the next year brings.

Taylor Archibald :

Awesome. All right, Jamie, how about you? Can you introduce yourself?

Jamie Eddie :

Jamie Eddie with the Mosquero Group out of Salt Lake and I have been selling real estate for 14 and a half years. And this is an interesting market with with interesting interest rates going on.

Ron Pippin :

Well, you know what, that's a great topic. So you both mentioned the market you know, we're deep in COVID which, as I would have thought at the beginning of this that it was just going to turn that the real estate market is sour, but man, I tell you, I have I haven't seen it. So where do you what do you guys seen in this market?

Kevin Richter :

Well, the first. go ahead Jamie, you first,

Jamie Eddie :

My first like, the COVID we're going into quarantine 2008 went through my head all over again. And I had to like sit down at night and I went in panic mode because I'm commissioned based, full time realtor. And I thought, what am I going to do? And I had to refocus. What did I do in 2008? And I call myself like, it's okay. I sold houses, even in 2008 when everything was going foreclosures short sell people, the market was terrible because people are losing $50,0000-$60,000 in equity. I told him, I still sold real estate, I still did it. So I call myself like, I can still do this. If I can sell anything in 2008 COVID has nothing on me.

Ron Pippin :

Yeah, I agree. What have you seen, Kevin?

Kevin Richter :

Well, you know, as far as the, the beginning of March, I was like you thinking that this is going to, you know, take a hit to the real estate market. And I was actually really excited about it. And I was looking at it from the standpoint of, you know, this is the opportunity to gain market share. This is the opportunity to get ahead when everybody else is sitting on the sidelines worrying and kind of to borrow a phrase from Warren Buffett he says he simply tries to be fearful when others are greedy and greedy when others are fearful. And so I saw it as a huge opportunity. I certainly didn't expect it to play out how it did. And inventory in the along the Wasatch Front here in Utah has already been, had been dropping, you know, pretty steadily, you know, since December anyway. But as soon as that hits, it started dropping in a big way. And I think there was a couple things that happen. First of all, you had people that were kind of holding their homes back to wait to see what happens. And I actually thought that that was a bigger impact than it actually was. You know, I started tracking the under contracts and solds and realize that, that things were actually selling really quickly. And so it wasn't just that people were holding the house back. It's just that as soon as they hit the market, they're going under contract and getting sold. The bigger reason is, I mean, obviously, no matter what the market does is controlled by supply and demand. And we've got a low supply already, it's been steadily dropping. But the demand when they started, not only when they dropped, the Fed funds rate did next to zero, which doesn't have a direct impact on interest rates. But when they started doing the quantitative easing, and then more recently buying, like corporate bonds and things like that, I mean, they're just pouring money, you know, just throwing money at this problem. And when they started doing the quantitative easing and buying back the bonds and those interest rates, I mean, we had somebody that got locked out a 30 year fixed rate for two and a half percent.

Ron Pippin :

I mean, I'm doing that today.

Kevin Richter :

What world is this right? And so the buyer demand is so huge. Everyone wants to hurry up and get something and now it's getting to the point where it's a feeding frenzy something hits the market. And if you're not on it in an hour, then I'm sorry you missed it.

Taylor Archibald :

Yeah,

Ron Pippin :

It is good. It's so crazy. You mentioned the interest rates really low. We were saying that you know, we've been locking people in the twos now on a 30 year fixed which has just been insane.

Kevin Richter :

Crazy.

Ron Pippin :

Yeah. I had I have somebody talked to me yesterday about about buying a home and and thought that they might want to wait But I can see when you if you wait and if the even if the prices go down the chances are your your interest rates are going to go up which, just negates anything that you've that you've gained. So I don't know.

Jamie Eddie :

Like let's go let's build a little bit on that wait mentality because I have a few that were like I'm gonna wait till this COVID is over number one COVID is never going away. It's going to be like the flu, there's going to be different strain every year, they're going to get sick vaccines, great, perfect, never going away. Number two, you're gonna wait and let's go statistically what we've done in the last few months, even with the prices of homes, they've gone up in three months. So in three months, you've lost 1% what you qualify for, even though the interest rates down, you're still losing 1% and first time homebuyers that price range of 200 to 300. There's like maybe in one city ten houses. And those are gone in an hour, like Kevin was saying, like the wait mentality. It's hard to overcome, because you do have these and you have first time homebuyers that are scared to huge purchase, you have parents that are like, well, what if the market drops, the market might drop, it might drop tomorrow, that I know in five to 10 years, you're going to make 50 to 60,000 more, even if it drops.

Kevin Richter :

Here's the other thing about rates, I mean, 1% rise and rate is a 10% rise in monthly payment. So everybody agrees that over the long term rates are going up. 10 years from now rates are going to be higher. Right. I don't think there's anybody that disputes that. So like she said, about prices, Yeah, that'll be a blip on the radar, but the rates locking in the money this cheap for 30 years. This is this is the opportunity. So yeah,

Taylor Archibald :

Yeah, I mean, there's so much room to go upward, but not very much to go downward. So yeah, exactly. It's, I mean, you're just nickel and diming at that point, I think

Ron Pippin :

Yeah, sometimes you're that phrase, you're stepping over dollars to pick up the pennies. You know, right now is a great time. It's just, it's insane how low those rates are. So what do you do? Do you guys have anything? What do you tell people who want to wait?

Jamie Eddie :

I have presentation. And I show them the statistics. I show them the numbers and I show them and I'll tell them history. I'll tell them history about this 18% interest rates in the 80s when the market dropped in 2008. And what people did and how they overcame and unfortunately, I have enough history with family buying in the 80s. Myself buying in and myself buying in the 2000s that I can show them history and statistics of Yeah, it's great in the market might drop but I still can't get the first time I built a house in 1997. I was 18 years old, and I built it base price on it was 105 and I put upgrades in it. I qualified for 127 and I thought that was insane. And I closed at 115 upgrades and I thought I was living high on life. I cannot go back and buy my house that I built in 1997 for 115,000. That house right now is going for 325. Many years later, here we are, what do you do, and the market structure twice, twice in that time that house has been built. But it didn't affect the last 115.

Ron Pippin :

You mentioned the history. I don't know if Kevin was gonna jump on this. But I know that in the past. I have a chart that shows that in the past, I don't remember how many years but it goes back quite a ways like 80 years or so. And there are five times five or six times in that eight years, where you actually have prices dropping the rest of the time it's always went up. But within just a few years. Probably the worst one is either in the depression or In 2000, this last one in 2008, when the market really dropped down in 2007 2008, but even in 2007 and 2008, it only took four years. And we were back to where we are, and then surpassed it. So you know, when people think the market is going to drop, and they're trying to time that bottom it's your you're just playing a game that's probably not going to be won.

Jamie Eddie :

Yeah, well, and then seven, as the market dropped, right, our interest rates were at six and a half percent. And we lost 30 to $50,000, depending on the home. And like you said, four years later, people were coming back and they were surpassing that 50 $60,000 loss, and they were going and making 30 to 40,000 more in four years. So you hold on to your house for years. And I think that's the mentality that first time homebuyers have is that they have the renter's mentality. Renters mentality is if rent goes up by moving so need to move. And so you have to overcome that too. Because when you buy a home, you're planted, you're there for as long as you can afford that home, which you're qualified for it. So unless you lose a job or things like or divorce, things like that you should be able to afford your home. And it's a controllable, you know, taxes are going to go up, so plan on that, but you don't have to move because nobody's going to come in and say, guess what, I'm raising the rent $500. And either you pay it or you move. So that's another thing is renters mentality.

Kevin Richter :

I think, also, it's important to ask questions, because if you if you tell them what you expect to see and what you have seen, you know, then they aren't going to buy in as much as if you ask them questions that guide them to the right answer, right. Because, you know, and just to roleplay really quick, Ron, if you don't mind. So just pretend. Just pretend that you want to wait. Right? So, Ron, just out of curiosity, I'm sure you've got a great reason for wanting to wait. I'm just curious. What is it?

Ron Pippin :

Oh, I just think that I just think the markets gonna go down. So I just want to wait?

Kevin Richter :

Okay, gotcha. And just out of curiosity, how much do you think the market will go down?

Ron Pippin :

I think it's gonna go down. Yeah, I probably might go down 10%.

Kevin Richter :

Okay, got it. Well, and have you seen where interest rates are right now?

Ron Pippin :

Yeah, they're pretty. Yeah, they're pretty low.

Kevin Richter :

Yeah. They're at historic lows as a matter of fact, right? Yeah. They know what happens when interest rates go up by simply 1%.

Ron Pippin :

Yeah, no, I don't.

Kevin Richter :

Well, your monthly payment goes up by 10%. Does that surprise you?

Ron Pippin :

Yeah.

Kevin Richter :

Yeah. Yeah. And so if let me just ask you this. Now, pretty much all experts agree that rates will rise. So if you wait a year, and the market comes down 10% and rates go up by 1% or more? Well, then you've pretty much broken even haven't you?

Ron Pippin :

Yeah, that makes sense.

Kevin Richter :

Okay, so do you really want to put your point on hold, just to break even.

Ron Pippin :

Drop the mic right there, man that, Kevin.

Kevin Richter :

Well, so just I'm just basically asking questions to guide them through because if they, if they give the answers, they're more likely to believe the answer. Right. And it's not that you're trying to trick them. I mean, this is in reality. I mean, right, everybody, I don't know of a single person who doesn't think rates are going up. Right. And will prices go down? Well, maybe maybe they will. But But when? Right, maybe they'll go up another 10% before they come down. 20 I mean, we don't know. But rates are going up. We know that we just don't know when.

Ron Pippin :

Right? Yeah, we we've been we've been in a rate market that we're really spoiled. It's just unprecedented in history that we have had rates so low for so long. Now that they dropped down. So I I'll be honest, last year when they were in the US in the threes, I was telling people, they just they just aren't gonna go down. Just like I'm eating my words, but it's just like, yeah, it's almost free money now.

Jamie Eddie :

Yeah, they've been this low. And even when I was working with some buyers and they were freaking out the interest rates were at four and a half percent because they had jumped from 2.9 to four, four and a half. And they were like, well, that's a high interest rate. So then you go back to history. Okay, so in the in the 80s, you could buy a house at $52,000 and have an 18% interest rate. So would you rather have this house at four and a half percent and build equity? Or do you want to wait until the market drops to 52,000 and get an 18% interest rate like it's it's apples and oranges?

Ron Pippin :

Yeah, it is totally different.

Taylor Archibald :

Then I think that's the other thing. I mean, we're not only are we in a market where the rates are really low, but prices they're still going up. And so, you know, people are buying houses and automatically they're getting that appreciation. So, you know, we've had some people where we, closed them, like, you know, even a year ago, when rates were 1% higher, or maybe a little bit more, maybe their circumstances have changed, or they want some cash out, and we've gotten to refinance them and had to get the appraisal again, but the value of the house has gone up, you know, just in the last year has gone up so dramatically, and then they're locking in at these crazy low rates and saving tons of money. And so yeah, sometimes it's just getting into that game. And then, you know, if, if the market really does drop out, or rates, you know, go down into the ones maybe we're gonna eat our words that two's about as low as I go, you know, so maybe that happens, but they still have that flexibility to you know, change things around as they go to,

Kevin Richter :

Well, who knows because they're buying corporate bonds. So maybe they will do that

Jamie Eddie :

That's the thing to, buy today at two and a half percent. Okay, I have a magic ball and I know in February of 2021, the mark the rates are gonna go down to one and a half percent. Guess what, in February 2021. I can refinance my house at that rate. I just have to refinance.

Ron Pippin :

Yeah, yes. So if any, if there's any consumer listening to this, where we're throwing these numbers out, like maybe the rates are gonna go down to one and a half percent.

Kevin Richter :

She mentioned Magic Ball. So it says asking ask again later, so.

Ron Pippin :

So if you're watching this on YouTube, if you're listening to the podcast, he just picked up a magic eight ball

Taylor Archibald :

And got the ask again later. So ask in January.

Ron Pippin :

That's right. Right, rates are going to go down there. So I don't know what... I know Kevin, that you do. We're going to change it. We're gonna change it up just a little bit, you do some listings, you probably focus on those a little bit more. Yeah. Um, so, you know, in this market, what is it that you can do to, to help helping the listings? I mean, you know, a lot of times we are trying to try to buy a house trying to list a house, and we're competing with with for sale by owners, are you competing with the low rate or the low commission brokers? How do you guys compete? What is it that you do to compete with that?

Kevin Richter :

Well, I think it's, you know, first of all, nobody should hire me unless they truly believe that I can provide more value than what I'm charging. So and I tell people that you know, straight out the gate. And so what it comes down to is I just focus on stats, right and if I mean for sale by owner, if you look at the NDR stats, I believe that number is $42,000 difference between the median median price for a For Sale By Owner versus an agent represented seller, that's a national number. But, you know, as a for sale by owner, there's just not going to be the same exposure. Right? So I, I talk about emotion, right? Because, and I often joke around with sellers and tell them hey, you know, if you got enough patience, I can get your million dollars excited, it might take a while, right? on the same token, I can have an offer for you today, I'm going to grab my wallet from the car, right, you're probably not going to want to take it, right. But if you if you price it in this market even a little bit high, then you can generate emotion, get people seeing each other coming and going from their house. Right. And that feeds them multiple offers, and then you can pit them against each other. So I think in this market, that's the key buyer agents hated obviously, because it's so difficult to get a house right now. I mean, particularly, as Jamie mentioned in the 250 to 300 range. There's just nothing available. Yeah, and yeah, so I think it's a I think it's a matter of so what I focus on is selling our system for generating emotion, which leads to multiple offers. And then our stats just show that we're almost 4% higher than the market average. And by the way, you look at something somebody like Homie, a market B told me by almost 3%, you know, for the average agent, so, you know, so it's, you know, it's definitely just if you look, if you show them the numbers, they can make the decision on their own based on what they're seeing.

Taylor Archibald :

Yeah. So, um, what is it as far as you know, getting in front of these people who are selling, what are some of the tactics that you use?

Kevin Richter :

Well, it's basically just, you know, there's that old adage, you know, call them till they buy or die, I think, I don't know who came up with that. But, you know, basically, it's just not giving up and I remember there was one seller I had that. I followed up with him for four months, never talked to the guy. And then one day, he calls me out of the blue. Hey, Kevin, you know, it's Jared. I'm thinking Jared Jared Hi, Jared. Yeah, but I mean, I called him every week for for four months. And he felt like he knew me. And so I think that's the key, right? You just stay persistent, you stay consistent. And you keep calling and following up. And when they're ready, they'll let you know. The other thing is, I mean, don't just rely on one medium. Don't just rely on calls. Don't just rely on text messages. I mean, because the text messages, emails, I mean, even go knock on the door. Right? If you know that they're, you're looking to do something, right. Just get a hold of me. Have you ever you can. I mean, I'll look them up on Facebook, see if we have any common friends. I'll reach out to the common friends and say, hey, how well do you know so and so? Can you give me an introduction? Right. So cool.

Taylor Archibald :

Do you have a system that you use for some of that follow up like a CRM or

Kevin Richter :

Yeah, so we've used Commission's Inc, we're looking at other options right now. So but Commission's Inc is great. We've used Boomtown and, you know, I've also just used things like Mojo, and a simple Excel spreadsheet, I do rank. If I have an a buyer, I have those a buyer or seller, I have those in a separate list. And I target those first. And then you know, the other ones that are more on the drip type thing. You know, just, that's just like a kind of my strategy is when the lead first comes in once a day for a week, once a week for a month, you know, and then basically monthly at that point. So you mentioned CRMs. And I know that some people ask us sometimes so what is the best CRM?

Ron Pippin :

You guys know what the answer to the what the best CRM is?

Jamie Eddie :

The one that works best for you and the one that you will use the most.

Kevin Richter :

There you go.

Ron Pippin :

That's exactly the right answer. So the one that you will use, I mean, there. Kevin, you just mentioned probably four or five different CRMs and you may have changed just because you they were just too cumbersome or just didn't offer the thing. You know, the the CRM have all the bells and whistles, if you aren't going to use it is a terrible CRM for you. Yeah. So you're right. That was the exact right answer. It's the one that you will use.

Jamie Eddie :

I wish when I first got into the business 14 years ago, that somebody would have sat down and told me how important a CRM was. I was in the business a long time before I realized, I need a CRM, like I didn't even realize what a CRM was when I first got into the business. And now I can't imagine doing business without one and I so like, new agents will be like, what's the most important thing that a new agent needs to know? Like, not being a silent agent, you also need, you need to track that stuff with a sh t so that you can go back and follow up and do like that is number one, to have a CRM that you will use.

Ron Pippin :

I agree!

Taylor Archibald :

So, Jamie, I know that you also do some listings as well, you mentioned just before that you do really like working with first time homebuyers. So what what are some ways that you use to get in front of those, those homebuyers or the people that are wanting to sell their home.

Jamie Eddie :

So that is something I've been working on so I'm doing Facebook ads, and I'm doing a lot of social media posts. Like I took a social media class and I am old school like I am not one that leads my entire life on Facebook. And so it's really hard for me to because it's like content, like coming up with content to put on Facebook, but then they say don't make your Facebook page and your Instagram page the same like when you post it. It'd be different then it's like, oh, how do I do this? So it's just trying to get in front of people on social media and I struggle like if anybody wants to help me, I'm looking for help. But yeah, it's and then just it's word of mouth and like my kids are that age and so I have two girls that are involved in softball and so there they have parents that have kids that age and such just do not be a silent agent. You cannot be an agent that successful if you're if nobody knows you're an agent.

Ron Pippin :

Yeah, I agree.

Taylor Archibald :

Yeah, that doesn't even mean that you have to go out and be you know, pushy salesy, with with people, but it's seriously just going out being in the community helping people understand that you are an agent. And, you know, so that's what you do. And then the more that you get that exposure. I mean, you don't necessarily have to, you know, everyone that you meet, hey, do you have a house to sell? Hey, do you have a house to sell? Hey, have you thought about buying Hey, have you heard about interest rates You know,

Jamie Eddie :

Like with COVID, like, for me, I'm very social and my husbands and kids make fun of me because they say I can't go to the gas station without knowing someone. And so, like, they never want to go with me anywhere because they know it's gonna be like a half hour 45 minute conversation with somebody they don't know, but I've known. And so with COVID though, you have your masks and everybody treats you like you have the plague and so I've struggled socially because I'm like, I don't want to like get in their bubble and is that that person because I can't really see their eye I see their eyes but I can't see their face. So is that and I don't want to be that backup lady.

Kevin Richter :

Yeah, sorry about that last week, by the way.

Jamie Eddie :

It's different. It's like that's what's hard too is you're used to like being able to go networking and socializing with people and seeing people in the grocery store and just making like small talk and I feel like that is kind of put it down. on people, because nobody wants to talk because you might have the plague.

Ron Pippin :

Kevin you had something there?

Kevin Richter :

Oh, I was just gonna mention, you know, Taylor Martin talked about coming across as a pushy, agent. And I don't think yes. But you don't want to come across as a pushy agent. Right. And I think the best way to avoid that is to ask questions, and come from curiosity. And I don't think that you even can come across as pushy if you are, again, coming from curiosity, asking questions, and then just listening to their answers and letting that direct the conversation.

Taylor Archibald :

Yeah, yeah. Cuz you seem a lot more helpful and, you know, wanting to help them in their, you know, situation instead of, hey, how can I make a buck? You know what I mean? The money will follow. You know, as long as we're being helpful, the money's going to be there. How Lie.

Ron Pippin :

Yeah, sincerity. Sincerity people can see through that and you don't.

Jamie Eddie :

I agree. I agree with that. And when I first got into the business or the first like five years or so years, people would use another agent and then come to me with all their problems about their agent or problems with their contract and like, Whoa, like, you didn't want to hire me. I'm not answering your question for one I can't, but for two like, not my problem. Go have fun with that.

Taylor Archibald :

Yeah, I saw a funny meme the other day where a loan officer he said, you know, every time that one of my friends says, oh, we're just closing on a house next week, you know, he always says, Oh, that's great. You should go out and celebrate right now and buy a new car.

Kevin Richter :

Oh, that's mean.

Jamie Eddie :

We hope they get a flat tire on the way to closing

Kevin Richter :

No, cuz we all have an abundance mentality. Funny out there, right? We're gonna help. It's funny. That's funny.

Ron Pippin :

You know, I used to that used to kind of bug me a little bit when I had family or friends that would use somebody else instead of financing, but I've just come to realize that everybody knows that agent. Everybody knows a loan officer. And so sometimes you just have to be just choose and it's not like, they didnt you because they don't like you. It's just, you know, who was there at the time, which is why you guys were both I think mentioned your, your sphere of influence. And I know we were talking about social media, which is part of your sphere of influence. And if they don't use you, or use me, it's sometimes our own fault.

Kevin Richter :

Yeah. Well You know, it's interesting to in Utah 700 households, 700,000 households in the whole state, roughly, okay. And the number of agents roughly 20,000. If you do the math, there's like one agent for every 24 families in the state. So everybody knows multiple agents. And so the thing is, you got to make sure that you get to them before anybody else does. And by the way, if you go out for an appointment, and they don't sign the listing agreement, or they don't sign the buyer agreement, and they're going to think about it, well work on your closing scripts, because if they think about it, while they're thinking about it, they're gonna remember that Aunt Sally is also an agent. Oh, and so is their cousin, you know, cousin, Frank, right. And so they're gonna find somebody else. They do know other people that are agents. So

Taylor Archibald :

Yeah, so having like a really good value proposition, you know, right up front. This is what I bring to the table. This is you know, the difference and, yeah, I think that that that makes a big impact for sure. So Kevin, let's get to that trade secret that you're telling us about?

Kevin Richter :

Oh, the trade secret. Gosh, what's the though? Well, yeah, the trade secret. That's not a secret. Right? Yeah. It shouldn't be secret. That is a secret. Yeah. So the secret is just showing up. And it's interesting even even through this COVID I actually talked to an agent who said that the market wasn't very good, right? Now I'm thinking, well, that just seems strange to me that somebody would say that, but it's in anytime there's fear. People are going to decide, are they going to hunker down? Or are they going to go to work? And one thing I've always done is I've always gone to work, I've been consistent, and persistent, right, I show up every day, I make phone calls. I, you know, look for new business. And there's a lot of people that, you know, I mean, I like Netflix. But I don't sit home all day watching it, you know, and hopefully, that doesn't come across as judgey. But it's just a choice. And the reality is we make the choices that move us forward, or they keep us you know, where we are or that make us move backward. And you know, if you're going to, you know, take this opportunity to just sit back and wait for the world to recover. People are going to pass you by. So that's the secret, right? To go ahead and work hard and get market share because there's fear out there and this is your chance to seize the opportunity.

Ron Pippin :

So what you're saying is if you show up and you do the basics this this is going to come to you now Wow, who would have thought?

Kevin Richter :

Yeah, it's weird isn't it strange how that works

Taylor Archibald :

And I you know, the same in our on our side of things too on the lending side people are always looking for men what's that one that one thing that I can use to get the advantage on my competitors I need to you know, be the first one to have this technology or this you know, game plan so that you know, I can set myself apart but really a lot of times setting yourself apart is answering your phone. Yeah, you know, being available and having a value proposition and having you know, some of these just really basic things that everybody you know, it's like realtor one on one and lender 101 but doing those things every day and making your phone calls every day and you know doing those just basic things, that's what's gonna bring in the business.

Kevin Richter :

Yeah, if you show up the business to show up, and you might ask, does that really work? And look at the magic eight ball here signs point to Yes.

Ron Pippin :

Oh, nice. Yeah. So is there anything that you guys would like to add is there's like one, one point that you if you are talking to a new agent or somebody that wants to bring in some business? What is that one thing you would tell them? I think Kevin probably just answered, and probably it but is there anything else that you would add to that?

Jamie Eddie :

I would just say don't be a silent agent. And don't get in the business. If you think this is easy, quick money, because it's not because I mean, people don't realize yeah, you might get a big $6,000 commission check. But you may not get another sale for three to four months. So that's $6,000 has to pay your bills until you make another closing. And so I think that if we can get past that mentality as easy buck, then you'll be successful.

Kevin Richter :

The only other thing I would add is don't let the market discouraging because it will change. And by the way, I believe that we will head into recession. And this, this crazy market that we're in right right now, I think we'll, we'll go by the wayside, and we'll head to a shifted market. And that'll that'll present a different amount of different number of challenges, but it still comes back to what do you do, right? It's not about the market. It's about what you do. So don't don't let the market discourage you. Just let it dictate what activities you take.

Taylor Archibald :

Yep. Yeah, cuz even in that recession, both of these agents Jamie and Kevin, they're both gonna still be selling. They're still gonna be selling houses. They're still going to be helping people buy houses. And so yeah, I think that that's a great point, Jamie. You're sorry. I think I made cut you off there.

Jamie Eddie :

No, you're fine. I was gonna add to what Kevin saying about the recession. One key point, just because it's a recession doesn't mean you're going to find the homes under 200,000 anymore. Like, it's still gonna be a tough price range because even in a recession, we're not talking hundreds of thousands of dollars going off on homes, unless it's million dollar multi million dollar homes, like that's where you see the biggest discount. But it's not a discount where my $400,000 house is all of a sudden going to be $200,000 and you're going to make this mansion at $200,000. So yes, a recession is bound to happen because history has repeated itself every every 10 years about ish. But it's not going to be discounted high like I'm gonna get I'm waiting till $500,000 houses 250 and I'm going to move my family and like that is not gonna happen unless you're squatting and somebody hasn't paid their,

Kevin Richter :

There's a great strategy

Jamie Eddie :

yeah

Ron Pippin :

Well this is this has been great you guys we I think we've got some great content here. Wait, I know we mentioned we didn't want to go over too far but we could actually dive into some of the things that you've said and dive in much deeper so I don't know maybe we'll have to do it again. But I want to thank you for for imparting some of your wisdom and having the abundance mentality and sharing and and I think we'll we've all I know what I've learned learned some things was a great exercise that Kevin did. And in Jamie's given us some great things to think about. So anyway, if you guys like our podcast, go out and give us a we give us an honest review. Of course we like the five stars. If you need to get hold of Jamie Jamie, how is it that they can get hold of you?

Jamie Eddie :

And then I have a website Jamie sells utah.com or Jamie sells Utah Utah spelled [email protected] Or my phone number 801-645-0562.

Ron Pippin :

Kevin Okay.

Kevin Richter :

I'll just keep it simple my my cell phone 801-475-5000 Just give me a call shoot me a text.

Ron Pippin :

Cool. All right, and get hold of Taylor and I you can call us at 801-628-7667 and thanks for joining us. Joining us on Agent Vs Lender, we will talk to you next week.