Johnny Awesome and Jimmy Fantastic, here to kick off your Friday with a jolt of energy, and boy, do we have a show lined up for you. Get set as we tackle the big, bad world of real estate, to turning the daily grind of cold calls into a laugh fest (yes, monkeys are involved), we're here to inject some fun into your workday. And if you've ever been sideswiped by the unpredictable laughs of life while on the clock, you're in the right place.
As if that wasn't enough, we're stirring up the pot with a candid debate on the real estate commission conundrum that's got everyone in the biz talking.
If you enjoy our content, please like, subscribe, and share. You can also catch the show LIVE @ facebook.com/freeforallfriday and make sure you stick around after for "the afterburner"
Johnny Awesome and Jimmy Fantastic, here to kick off your Friday with a jolt of energy, and boy, do we have a show lined up for you. Get set as we tackle the big, bad world of real estate, to turning the daily grind of cold calls into a laugh fest (yes, monkeys are involved), we're here to inject some fun into your workday. And if you've ever been sideswiped by the unpredictable laughs of life while on the clock, you're in the right place.
As if that wasn't enough, we're stirring up the pot with a candid debate on the real estate commission conundrum that's got everyone in the biz talking.
If you enjoy our content, please like, subscribe, and share. You can also catch the show LIVE @ facebook.com/freeforallfriday and make sure you stick around after for "the afterburner"
You're listening to the number one live Colin podcast for real estate agents and professionals all around the world. World-class guests, breaking news and you with your host, johnny, awesome and Jimmy, fantastic. You are on free for all Friday.
Speaker 2:Good morning, good morning, good morning.
Speaker 3:I am but a vessel for my while. Listen to me, listen. A vessel for my greater deposit of energy, a secret of greatness with an all my kids know me as daddy.
Speaker 2:$6,000 to get to the Philippines, jimmy and let it be known, it's not great.
Speaker 3:Isn't that great. It's nice having my voice back, and you didn't cough in the middle of it Not yet.
Speaker 2:I know it's there.
Speaker 3:I know it's coming, there we go. Jimmy has set this beautiful scene up for us. It currently looks like we're having a dinner together.
Speaker 2:We could you know, or some more nerves Drinks.
Speaker 3:We. I guess we could.
Speaker 2:It would be great when we you know that would be a fun show Doing live we should do that live from a restaurant as we restaurant out there, as we start to eat us at a restaurant out there. It's just like when the waiter comes by and goes how's your meal? And you just put a fork full of food in your mouth.
Speaker 3:Oh yeah, that's the best, that's, that's everybody's favorite thing. Uh, three, one, three, six, four, four, four all the number that you can reach out to us today. Of course, you can participate with us in that Facebook as well.
Speaker 2:And a breakfast club was in there with us this morning too.
Speaker 3:And the breakfast club that you're in, you can hit star star Jimmy is manning the board. I'm sure we're going to have some comments today. For sure. Good morning to you as well. I'm glad that you're scheduling that appointment, jeffrey. I'm glad to hear that. Uh, for those of you that are joining us on the podcast, we are also live, which is why we're responding to comments. So if you are somebody that only listens to the podcast, if you get the opportunity to, please do check us out live. You get the chance to see all the shit and against that are going on. Are we just going to leave these lights? Why not? It's funny because you know how people used to say the other lights would bother them. This, this is for for for ADD dude, this, this one gets me.
Speaker 2:It's like I finally like like I figure I thought this would be like more calming thing for you. Like, yeah, like, did you ever see the movie the accountant? Uh, maybe I don't know that he's autistic, but he's an accountant. Okay, like like he has to take this moment where he just jams really loud music and flashing lights.
Speaker 3:Yeah, yeah, yeah, and so that's, that's a real thing, you know, in fact that's why I was trying to call me down. Oh, but listen, that same accountant, okay, when he walked into the walks into the grocery store. There's that one light that just flickers, just there's he can't. He can't remember which cereal he was trying to get right, because that light just keeps going off, and that's what that light over there reminds me of. Like it's just right, in my view, and it just it's.
Speaker 3:it's not even on a pattern, it's just blank, blank, blank, blank blank.
Speaker 2:That's the pattern.
Speaker 3:It's bad. Uh, I forgot which cereal I was going to get. I had a point to make. I was going to bring all that back around real estate, believe it or not.
Speaker 2:Well, that means, oh, here we are, add yeah, but you know what's interesting about that.
Speaker 3:You brought that up with the music and lights. And what's interesting is, um, I remember when I was a uh internet manager at a car dealership and I had to do this Monday and work, like you know, you had to go through and the stuff that you do is realtor. You have to go through the list, you have to call through it, and that was the first time that I realized that if I stuck a DJ light in there that blink, and I stuck it right by my face, right and it would blink and stuff like that, I could make it through that and it wasn't, it wasn't hard. The other thing is it was more time consuming because there was a lot of data I had to put in and check other people's notes and make sure you know. So there was a lot. It was a lot of data entry, one of those types of things.
Speaker 3:So when you can't focus very well, you find other ways one of the five ways to procrastinate, right, if you can't focus very well. So what I found was uh, if I put that light in my office, all of a sudden I could focus and I did the same thing, right, and it was funny. I used to have a uh, a shop manager that used to come by and he always he thought it was the funniest thing that I would sit there. And he was a high, uh, like very high D personnel.
Speaker 3:Like didn't understand me at all, but for some odd reason was really drawn because he was like fun. What is this fun thing? This guy seems to be having it, you know, and he'd be over here.
Speaker 3:I don't understand this fun thing that's happening. But he had always come by and he would always make fun of this light that it had on. But he always thought it was commendable that that I found a way to make work happen. He just couldn't believe that was it, Right, right? So when I left there I gave him that lamp, that light.
Speaker 2:Okay. So I'm not sure what he ever did with it, but it's probably still staring at it If I never moved, I'd still oh, this is fun. Yeah.
Speaker 3:He's just beard.
Speaker 2:He might have opened a whole new world to the guy, though he's probably a DJ.
Speaker 3:This entire time. That was all I needed. Yeah, f is for friends. They'll always be together.
Speaker 2:Yeah, he's probably a DJ now, so good to have my voice. It's actually the uh uh dead mouse guy. That's who it is.
Speaker 3:Oh, that's no marshmallow. Marshmallow is newer, yeah, so anyway, uh, the point of that is to wrap that all up, and this is actually something that I was talking to an agent about, uh, this week, and that is making environments where you set yourself up for success the most.
Speaker 2:Yes, see, go ahead, it's super important. No, I mean, that's super important, right, like this, the study, because it goes back to everything we talk about all the time what's CRM works, the one you actually use, right? Which dialer works, the one you're actually going to dial out of which? Which? Which thing is this? Like? Setting up yourself, like now, setting yourself up for success is super important. Like what, where are you comfortable? Um, you know, when I dial, I'm a, I'm a pacer. You know what I mean. I, I, I use, I like to walk when.
Speaker 2:I talk, you know what I mean Like I can't, it's, it's when I'm dialing. I can't just sit there and dial. I I have a basketball in my hand or a baseball bat in my hand and I walk and it just helps me think. Did you ever see a few good men? Tom Cruise.
Speaker 3:I, I can't handle the truth, yeah.
Speaker 2:Um but no, he had a bat in his hand.
Speaker 3:Is that the one where he was dancing in his underwear?
Speaker 2:No, that's a. Uh, I can't remember that one.
Speaker 2:But anyway um no, this is the one with Jack Nicholson where they put him on trial and uh, but no, he had a bat in his hand and they they're like, well, do you have a bat in your hand? He was, he was going over what he was an attorney and he was going over what he was going to do the next day. And he's like it helps me think. Oh, just holding onto that and like doing motions with it and you know his, his like it was just like. He's like it helped me think. He walked with it and had it in his hand. And I do the same thing, like I have a baseball bat in my hand or a basketball on my hand or something and I walk and talk. It helps me think the baseball bat.
Speaker 3:What makes me nervous?
Speaker 2:I just walk around bat one hand, the other Megan right Like cocking it uncocking. It helps me think. I wrapped barbed wire around the end of it. What is happening?
Speaker 3:But it is. It's you know the other thing. And a lot of people don't realize this, and I've I've mentioned this before on the show like people get stuck in this mundane and they think that they can't alternate. How do I put this? Because sometimes you have to be careful, you have to know yourself, but they, they feel like, oh, the only place in the world that I can make calls is sitting in this little tiny space next to other people. They don't realize that, like, if you're diligent and you find a better place. I know I've told this before, but the best expire that I ever got in my life wasn't just because I called them and I nailed the appointment. It was because I did it. My feet were in the sand. I used to drive down to Pontiac State Park and I'd put my feet in the sand and I would just, and I would just sit there and soak up the sun and I'd make calls from the Mojo app.
Speaker 2:Yeah, it was you that used to dial from the monkey place. Yeah, I used to dial from the monkey.
Speaker 3:Yeah, yeah, that was funny. You have to zoo we. You know, I used to live in Royal Oak and a zoo year long passes was nothing and and, yeah, I used to go and sit down where the month there was two, the most comfortable chair. See, it's funny. So the most comfortable chair was over where there was one exhibit that had like a moose, a hawk and like a sheep, like they just they're like, where are we going to stick the rest of the, the, the gray animals? We'll just put them in this one pen together. They'll, they'll be all right, and so it's just this one pen. That's random. When you first walk in on the right hand side and those chairs, for whatever reason, they kind of reclined a little bit the most comfortable to sit in when you're making calls. That was the most comfortable spot that I found and because it's like a weird spot, nobody ever really came up and bothered you there too much with the monkeys. People were always coming by to see the monkeys, but the monkeys were were the funniest.
Speaker 2:They were so poopy.
Speaker 3:They, they, no, no, no. But I was on the phone with this guy and it's so funny when the monkeys will, will, will, move around and sometimes their lips match the conversation that you're having. And this guy he was not. You know, he wasn't having it that day and I was trying my script on him and this this is calling fizzbo's an expired, so I'm not sure which list is probably on expireds, but I just I'll never forget the guy was super serious and mean and then the monkeys started picking his butt and the guy's talking to me and I'm just laughing. I laughed so hard and it made that guy so mad and I forget what he said. I actually I actually had to hang up on that one because I think the guy was trying to tell me how serious he was about this other guy taking it back. I don't know, and I'm laughing at him, you know, but not at him the monkey version of him.
Speaker 3:So, yeah, yeah, it's you. You can find any environment. You can bring those environments indoors too, if you need. If you are one of those people that need the accountability of people surrounding you, that's fine too. Bullpens exists for a reason, but you can still do things on those days where you either reward yourself a little bit for moving further, just by a little, or stuff like we used to teach environments that only you only did during the things that you just didn't like to do. So, for instance, if you have your favorite candle right, like, oh, I love sea breeze candle or whatever cool, well, during your call time or whatever time, you find something difficult to do in order to look forward to it, that's when you get to lower the lights and you get to light your candle right, and I have known people to put sandboxes under their desk for real, they make those.
Speaker 2:Yeah, there's a treadmill that goes under your desk.
Speaker 3:Where's the?
Speaker 2:treadmill. It's the work, treadmill.
Speaker 3:Yeah, yeah, the work treadmill, yeah, so you could do these little things to help improve your environments, to make it so that it's not only easier for you to accomplish what you're accomplishing, but almost give you a little treat for doing what it is that you're supposed to do in the first place. So for me there's somewhere out there there's a video of me in full blown. I should see if I should find it. If I cannot post it on the Facebook page, but my old desk in my old office from the last team that I came from, it was a raising desk like ours and you've seen, I've had lights in here. I had that whole place lit up and I mean I had under glow lights under the desk and the desk would raise up and it looked like a DJ station in there. And here I am making phone calls and I've got agents that are doing it with me, right, and it looked like a rave was going on.
Speaker 3:I mean the music was blasting and it helps. It's what we do If that's my fun time, why not make calls during that time?
Speaker 2:Right, Well, and that's the thing too. That's when you start to hit your stride a little bit too typically, right. That's when you start to get the more yeses because you're more comfortable doing it, Like you're having a little fun with it. It's just like when we talked about like unconventional scripts or sliding words in right, Like we always used to play word bingo right Like just, you have bingo card with different words on it.
Speaker 2:If you could put that word in somewhere then you could check off that box and we give out prizes at the end of the day. So you know like there's all kinds of stuff to do to improve the dialing and the making some fun out of it. Oh, 100%, you know yeah.
Speaker 3:But yeah, I mean, I know that's where we weren't going this morning, but yeah, you know it just takes some creativity, but what it really takes is some thought and at the end of the day I was having a conversation with another team yesterday and really what it takes is it takes your excuses away. Yes, and at the end of the day, if you need to hack something or trick yourself to do something in order to do it, that's, that's okay. What's not okay is to constantly make the excuse of oh I, the area is not. Uh, you know, it's comfortable enough. Yeah.
Speaker 3:This, that or the other thing, or I don't like talking around people. So then you shut yourself in a room and well, now I don't know what to say, and you know what I mean. Yeah, it's like Ron said, and I just throw it up there. It doesn't? It doesn't really matter where you make them, Just just making them right.
Speaker 2:Well, I it's funny too, cause I used like there was a lot of times where people would be like, well, it's loud and I I need it to be quiet when I'm falling and, um, all these, this, that and the other, and I'm like, well, you know, I worked at pretty big companies that had just like was the biggest company quick and okay.
Speaker 3:Yeah, all right so like 10,000 people.
Speaker 2:You know what?
Speaker 3:I mean.
Speaker 2:Like, but like. So you would have 300 bankers on a floor that's completely open. Yeah, and everybody's on a dialer. Okay, hold on you say.
Speaker 3:This is funny. Jimmy says this I came into his office yesterday cause there was an event out near here. Jimmy, this is you know. I came over here, there's an event around the corner and then I had to take a call. Randy had me set up with this the agent that scheduled themselves time and so I come back here to take it. And I said hey, jimmy, it's not going to bother you if I, if I do this coaching call in here and he goes, no, so I start coaching this girl. Within like three minutes you just back everything up and walk into the other room.
Speaker 2:Oh no, no, it's cause I had to put it on the other monitor.
Speaker 3:Oh, okay, okay, that was all I got it.
Speaker 2:No, I had to put a zoom on on the other month. We could both do in the same room. Zoom's different than a dialer. Yeah Well kind of yeah. I mean like well, especially with what we do, like when you're coaching and training people over a zoom, if I'm yelling and you're yelling yeah, we're both yelling Then people are like what?
Speaker 3:I don't. How do you make your phone calls?
Speaker 2:And the other thing is the, the, the, the person you had on the zoom. Her frickin fire alarm kept beeping. It's true, I was coaching that fire alarm was going to beep one more time. I was going to fly to where she was and and knocked that thing off the wall with my bat with my bat.
Speaker 3:I was going to go knock that thing off the wall. Yeah, that was a good that was.
Speaker 2:Then she was talking about how much, sorry guys, but then she was talking about how much money she made. And I'm like well, could you buy some batteries for the fire Right Fire alarm? Could you buy some batteries and change it in there?
Speaker 3:Well, yeah, that's how you know, that's how maybe she gives the money.
Speaker 2:Well, I thought maybe that's what her next goal was, if she actually sold the house, if she could buy the batteries to replace her fire alarm or just do what the rest of us do, and just take it off the wall.
Speaker 3:Yeah, I haven't had a fire alarm in five years.
Speaker 2:Oh yeah, If you have two dubs and a dog. You're fine. Yeah Right, right Something.
Speaker 3:But somebody's going to wake me up. Yeah, and the neighbors don't know that my house is on fire. When they see the smoke and the you know fire, I don't know what to talk about. My neighbors Right? So anyway, way off track there.
Speaker 3:The point is is, again, when you guys are setting these goals and you're uncomfortable, you can make. You can make your environment comfortable. Don't think that you have to set yourself up and get all like. You can actually do things to make yourself comfortable and actually make yourself have a little bit of fun. You just have to figure out how to hack it, and you really got to, at the end of the day, be willing to do it.
Speaker 2:Yeah, yeah. And again, like the, the fix for if you, if you feel like your room, the room is too loud, if there's too many people like the fix that that you and I could have had yesterday was we didn't either one have heads up, so that that's the other quick. That's the other quick fixes. You just throw a headset on and you run with it which we work together next to each other a lot, and when we throw headsets on and do it, it's fine.
Speaker 3:Yeah, it's almost like I need a headset to hear you anymore.
Speaker 2:Yeah.
Speaker 3:I don't. I don't get the fullness of your voice unless we have a headset. Just want to throw this out there again, guys, because we are going to. We got some. We got some stuff to talk about today. Phone number 3136444. All you can feel free to call in. Get your opinions and stuff like that ready, because we're going to do. We want to do. We want to hit the lawsuit stuff first or do we want to hit that other thing?
Speaker 2:Let's hit the other thing first let's hit the other thing first, and then we'll jump into the lawsuit. Yeah, let's do that, which is a lawsuit that we're going to hit first.
Speaker 3:Oh man. Well, now I don't know which thing we're hitting first. We had two topics, one of them was the lawsuit with with a former realtor president of ours. And the other one was the other thing.
Speaker 2:Yeah, they're. Well, that's, that's, that's, that's, that's at the real estate.
Speaker 3:You go for it, that's at the real estate, that's at the moment, the real estate agent involved.
Speaker 2:Yes, all right, sure, yeah, so so, donald Trump, if you guys haven't heard, he used to be a former president.
Speaker 3:If he didn't know, yeah, and he.
Speaker 2:he did this thing in real estate before that like years like you know, he had no idea. He was. He was a realtor. He did this thing, so recently he was hit with a 354.9 million dollar penalty and a three year ban in New York for supposedly, and again, fraudulently here. Here's the crazy part about the whole thing.
Speaker 3:So he you can't even make it through the introduction before we get off.
Speaker 2:I can't, I can't.
Speaker 3:So this is a. This is a. This is crazy guys. Yeah. So no matter what side you're on, think about it.
Speaker 2:This says nothing to do with politics.
Speaker 3:Nothing.
Speaker 2:This is real, it's zero to do with politics. This is everything to do with real estate and I want you guys to clearly understand this is real estate related, not not political Right. So Trump does the pay 354.9 million of penalties for fraudulently overstating his net worth to Duke lenders. In a New York judge ruled on Friday handing the former U S president another legal setback. So his the decision issued after they had a three month trial in Manhattan. It also banned Trump, who is running well, I don't know if we'll go to that server. So he was um. He can't serve as a, an officer and a director in any New York corporation for the next three years, which is where all his stuff is headquartered.
Speaker 3:Oh yeah, yeah, right, so does he. So does he have to like, exit Trump tower and all that stuff?
Speaker 2:He I mean he can stay there, he just can't conduct any business from there which is, he may as well leave everything.
Speaker 3:he does his business yeah.
Speaker 2:So, so he's going to have to leave there, right? Um? So he? The crazy part was that it says he's an incapable of admitting his errors in his ways. Um.
Speaker 3:I didn't see that the law yeah.
Speaker 2:Right. The lawsuit brought by a New York attorney general, uh uh, accused Trump and his family business of overstating his net worth by as much as 3.6 billion a year over a decade to foot bankers and to giving him better loan terms.
Speaker 3:Okay.
Speaker 2:The crazy part about all this is so let's say, let's say he did do this.
Speaker 3:Yeah.
Speaker 2:Okay, let's say that that him and and Don Jr and Eric um, they were also defendants in the case as well they they had to pay $4 million a piece.
Speaker 3:Yeah.
Speaker 2:On top of the 354 million they had to. So that's another 8 million. So all this, all this right yeah, to get loans in better terms. Now the crazy part about all this is all the loans have been completely paid back. Okay and and so there was never. So let's say for let's say he did over in flight what he was worth. Yeah to get a better loan.
Speaker 3:Okay.
Speaker 2:He paid it all back, which is illegal. Yeah, it is. Yeah, it is illegal, like like we know not to do that. Right, we know not to do that. Yeah it is illegal. Yeah but he also paid it all back.
Speaker 3:Yeah, but still yeah yeah, it is illegal.
Speaker 2:What he did was illegal, but he paid it all back. Yeah, so the question that comes into this lawsuit and this is the most intriguing thing of this whole loss, right?
Speaker 3:right.
Speaker 2:Is this so, 354 million, what he's paying? Yeah, don Jr and Eric have each had to pay for, so that's other eight. Yeah you're what? 360 somewhere there's three center $65,000. They had to, they have to pay, yeah, but there's no one. There's no one to pay damages too. Right, there was no damages, right? So where my question was like where the $360 million dollars?
Speaker 3:So I can answer that question.
Speaker 2:Yeah, yeah, yeah, come to free for all Friday. That's my question.
Speaker 3:This is speculation, but did you hear that New York is now giving Visa cards out?
Speaker 2:Yeah, I have heard that. You know about that I don't again.
Speaker 3:Now that does let go slightly in the political, so I'm not gonna talk about that too much. But New York is now handing out Visa cards. I'm assuming that that's where the funding is coming from, but that's not even that would even be.
Speaker 2:That wouldn't even touch what they're trying. What, what that, what you're talking about? I wouldn't know. It's less than that. Yeah, so I mean, that wouldn't what. The 360 million wouldn't even come close to covering that.
Speaker 3:Yeah, how about that?
Speaker 2:So the the crazy part is like and I get it like what over inflating your values and all that again, we worked in the mortgage.
Speaker 3:The only thing I can think of is the game monopoly, jimmy, and you know when you land on that one space it doesn't necessarily go to. If you're playing by the Real House rules, guys, you know, you know the rule right goes to the bank. It goes to the bank right in the middle and then somebody hits free parking right yeah and so that's all right. That's how that's. That's the only thing I could think of in my head is this is what's going on with that money.
Speaker 2:Yeah, it's going into the free, free, so hot.
Speaker 3:So the question that I kind of have with yeah, I don't know if you want to do it would take to land on free parking.
Speaker 2:I mean, there's 360 million.
Speaker 3:I'll tell you how to land on free parking, but we're gonna do it in the afterburner.
Speaker 2:Yeah, so I mean like and again taking the political side out of this. This is crazy on the on the real estate side and the mortgage loan side like right yeah this is if you think about the mortgage loan side. How often?
Speaker 3:do you think that happens where people over in?
Speaker 2:well, in order, okay, I mean we hear about it a lot like, yeah, well, locally. I mean like, think about it, detroit used to be the Motor City. Yeah, now it's mortgage city, right. Okay, you've got the two biggest dogs in the mortgage industry right here. Yeah, they're 30 minutes apart, you got quicken and UWM rocket and UWM, who don't like each other.
Speaker 3:They don't like it, they're.
Speaker 2:CEOs hate each other. I didn't know that.
Speaker 3:Oh yeah, Tell me about it.
Speaker 2:Oh, you didn't know.
Speaker 3:He didn't know, I didn't know oh yeah, yeah, ishpia and Gilbert do not.
Speaker 2:They do not like each other. No, that was so. So, ishpia, if you've heard Ishpia on stage before, he admittedly said like the reason he gets in at 430 in the morning or whatever time gotten the godly time he gets in the morning. It's because he was. He knew what time Dan got in, so he was getting in three hours before Dan because he wanted to catch him. Yeah and he did well. That doesn't mean that you hate somebody. No, they do. They don't like each other All right.
Speaker 3:well, there, yeah, they don't like each other, like so.
Speaker 2:So Dan bought the Cleveland Cavaliers, matt bought the Phoenix Suns, like they, they and they both went to Michigan State and and so they do they. There's also this thing back and forth with their donations at the Michigan State. Like Dan, there's a day there's the Gilbert building or whatever. Then there's.
Speaker 2:Ishpia building and now they're all there, but like the one Michigan State's like making out in this whole deal. It's great for Michigan State. Yeah, they just keep getting like. They keep out donating each other. Yeah, and where does all that money go? New buildings, do things, do whatever. What? Wow?
Speaker 3:Yeah, so you, you think that that happens a lot though in this industry. I mean, do you think that people because I'm on this scale.
Speaker 2:I don't think but, yeah, and I did. I did happen to watch what on my flight home. I did watch the big short.
Speaker 3:Yeah, okay, which.
Speaker 2:I didn't see in the big short.
Speaker 3:Yeah, I've seen both versions of it. I've seen the. I've seen the 1980s version. It was actually titled twins back then. That was with Arnold Schwarzenegger and no seriously though the big shorts really good.
Speaker 2:It's about the the mortgage industry in 06.
Speaker 3:I thought that was somebody out there had just yeah, no talking about this.
Speaker 2:Yeah, it was about the mortgage industry in 06.
Speaker 3:I haven't been able to pay attention to a minute of the show. Jimmy, I that light is still blinking over there. I have no idea.
Speaker 2:So is that one? Well, yeah, but you can handle that man. Well, I have focused on other things. Yeah, I got other things moving over here but yes, it's interesting.
Speaker 3:I I wondered so because can you, can't you have to prove what the amount of money that you've made? Like you have to send stuff in?
Speaker 2:you do, but here's what's, here's what. So this Is what was funny about watching the movie the big short. And if you haven't seen the movie the big short. You should watch it. It's super interesting about the mortgage before you go there.
Speaker 3:I just want to. I just want to point this out. Tom is 100% correct. He, he, he. He got my joke. I Just think I'm the one that I was looking for in the movie your time on was twins.
Speaker 2:It wasn't anything to do with short at all. You know you didn't get it, he didn't get it, I did get it. What? Yes, yeah, I totally got it. Okay, but I just I just ran past it because one guy was big. Yeah, one guy was Arnold Schwarzenegger, the other guy was Danny DeVito, the big twins.
Speaker 3:Yes, I never mind.
Speaker 2:Yeah, no anyway, but yeah, if you haven't seen it it's really good. But so they did change a lot of the legalities of the it's for for the better. Yeah, promise, I'm kind of slipping back down that road again, you think yeah?
Speaker 3:look what.
Speaker 2:Bank statement loans, you know. I mean and again, I don't want to freak everybody out be like I'm not, I'm not posting that one.
Speaker 3:We're getting comments that I can't, that I'm not gonna publicly show.
Speaker 2:I can go check them out, but but yeah, so I. So we're not going down down that road, cuz. So so, 0607 guys. Well, if you don't understand the mortgage back then it was like hold on, okay, how do you? Where do you want your $150,000? Right, they just had a pulse like yeah, you didn't check anything right, nothing got checked like.
Speaker 2:Yeah like you know, like if you were, if you were, if you were a waiter, for instance, right, yeah, and you applied for a mortgage and they, they, you got the mortgage. And they said, well, how much do you make a year? I make $150,000 a year. Okay, good sign here, here's your 500,000. That was it. There was no. There was no check. They just took about, took her on your word.
Speaker 2:Yeah, yeah so in the movie they they even talked about how the, the, the, the bankers. It was in Florida. Bunch of these bankers in Florida were going to strip clubs and All the strippers One had like 15 mortgages and they just kept get. Ladies kept a given it like letting her get mortgages and she had, she had like 15 different houses.
Speaker 2:Yeah and now, and just kept buying different, more houses and they kept approving her mortgages. Yeah, I'm like, well, she can't pay any of it. She didn't pay any of it off, but she, she got all the money right, Right, you know, I mean that's what was happening, so that's so. So that's where I think I think it got bad. It's gotten better since then, because now you have to have employment verification and all the things that go.
Speaker 3:So what we're gonna? So? So, basically, this is when he says that he took advantage of the situation where it was at. This is what he's kind of talking about.
Speaker 2:Yes, I got you and, and so I think that's where the Trump case gets interesting, because he, he said he oh, they say he overinflated what he is. His net worth was yeah, I don't know how you do that. Like you have to have a lot of money to first of all have a net worth right, like my net worth is not.
Speaker 3:You're not gonna be able to overinflate that, jimmy.
Speaker 2:Yeah, I mean if I overinflated it's, you know, but whatever. But so like over inflating it like I get it, like you know you shouldn't do that, but I don't even know how one does overinflate it like you, cuz I feel like you have to open all your books and like you Said that if the whole thing was based on well, yeah, it's, it's.
Speaker 3:It's one of those things that they say and again, I'm not trying to stick up for one person, the other it's. It's one of those victimless crimes that you hear about that's exactly what I'm but, like you said, if no, if he's already paid back all the money who's owed or do anything?
Speaker 2:right and I and I kind of goes back to like alright, so there's victimless crime. And if people like well, there's no such thing, there is right, like if I'm speeding. Yeah in the middle of the night and I'm going a hundred miles an hour 696 what you do, I do yeah but there's no police out there a single person.
Speaker 3:There no, no harm, no foul right well, but you, but you still did it. Yeah and then, ten years later, you decide to run for city council, some guy, you.
Speaker 2:Yeah, yeah, but I but but. But even in this case, where this gets even more interesting, is they told them they can't do work out of. Well that, but he also paid it all back. Yeah he didn't. He didn't take the money and not pay it back. Right he, but he would have.
Speaker 3:He would have technically owed more money, though. Right because wouldn't because he did it. That's where it's confusing.
Speaker 2:He got a better interest rate, but he also took, got. He also took more money. He got more money Because he overinflated what he, what his net worth was, so he got more money at a better rate right. But he paid it all back. Yeah so it's like well, I don't know that's where I get that. That's where it gets confusing to me, because like it's I get it like you can't overinflate your stuff and and it's mortgage, mortgage fraud is bad everybody.
Speaker 3:Hey, 100% judgment freeze home. Welcome to safe spaces. Today I'm free for all. Friday. You feel free to call in 313 6444 all you can also hit star star and say hello, jimmy Manning, the board over there. This is a. This is a comment we got in from Tim, who says he overinflated to get favorable mortgages when you're above a certain level of income. Nobody knows what it means. The other side is he lowered the value for his lower tax payments. New York citizens got screwed.
Speaker 2:Okay, so if that's I mean if that's the case, then that should go back to New York citizens. Right, yeah, but I, but right now it's a victimless crime and nobody knows where the money went. Nobody knows where the money he paid back went. I mean, it's going to he's got to pay the, he's got to basically pay the court. No, I don't know where it goes once it hits the court, because the court, the court, doesn't make money off.
Speaker 3:I'm sure they, I'm sure they do Right.
Speaker 2:So yeah, so like I don't know, like it's, that's, I don't know, that's where this gets weird, because he so. So all right, and from what Tim said, the tax, the taxpayers of New York, got screwed.
Speaker 3:Yeah.
Speaker 2:Okay, so, and I and I get that part, so, so that were but that, so you're to your point they should put that in a giant fund.
Speaker 3:Like like I get my email right.
Speaker 2:Like if you own a Verizon phone, but the problem is 2014 and 2016,. Sophie, if, if I did, the New York, did the New York taxpayers get screwed by $360 million? And New York is in such debt that $360 million wouldn't even dent what they're doing, what they do. So it's like saying I owe $100. Well, here's a dime, right? Do you want to mean like it's like? Well, that doesn't help me make $100. You gave me a dime.
Speaker 3:It did for that starfish, Jimmy.
Speaker 2:Right, like that's the whole thing, right, like that's, I don't know, that's that. And again I again politics out of it. Like I think it's just crazy because, like, where does like? My question is where does the money go?
Speaker 3:Yeah Well, you know I have the same question every time I pass the billboard. Here in Michigan there's a billboard up that says $1.8 billion went to the school systems from the Michigan lottery, the first. That's the same question I have. I'm like, wait a minute, where is it going? My kid's teacher the other day was begging parents to help her bring wet wipes into the classroom because they can't afford them and they ran out already cause you know, kids are gross.
Speaker 2:Right so yeah.
Speaker 3:So you need to wet wipe the whole place down. I'm like where did? Where's that 1.6 billion going Right, right, or the money for the roads? Some of the other states that are listening to us, you don't have those issues, but here in Michigan we have. We have some of those funny issues.
Speaker 2:All right, I'm just looking at this up real quick for just laughs, for laughs, for grins and giggles.
Speaker 3:Yes, all right, let's grant under a giggle population of New York the city of New York.
Speaker 2:Yeah, eight million people.
Speaker 3:Wow With it, with an M 8 million.
Speaker 2:Yes, over it, it's 8.8, 8.8 million people.
Speaker 3:Okay.
Speaker 2:In the city of New York.
Speaker 3:So, so so let's take the 312 million and divide it.
Speaker 2:Yeah, I mean, that's so so, so let's no 360 million math live on the show. Yeah, live on the show.
Speaker 3:We're going to do a little bit of math here for you, yeah, you know, I wish I had this every time I was doing math. It's a math song Getting down. It's the math song. Wow, did you are taking a really long time to calculate this. I had it. What do you have? An AT and T phone? Oh, that was the thing we were going to talk about. Yeah, yeah I remember we should write this stuff down here. It's, it's coming.
Speaker 2:Yeah, I don't know why.
Speaker 3:I'm running out of. Jimmy constantly defends the iPhone.
Speaker 2:You can't even use the car I'm running out of zeros. Oh, that's why I get too many Too many.
Speaker 3:Okay, good, he's calculating out the payments. Press the buttons. There's the zero. Zero. There's the comma.
Speaker 2:It's basically $45 a person, perfect.
Speaker 3:There it is, guys. Congratulations.
Speaker 2:I think New York's got bigger problems. What?
Speaker 3:That works, I guess.
Speaker 2:Yeah, so if, if, if, if Todd, I'm just walked around and everybody that's sitting in New York 50 bucks, which he does right.
Speaker 3:You know, that's the thing, that's the thing that they forget.
Speaker 2:You know when you pull except for all the, except for all the the new residents who aren't counted here.
Speaker 3:Okay, guys, so now let's let's tie this back in. You have these huge heads of real estate. Grant Cardone came out yesterday, I believe, and said he wants to pull all of his business out of New York. Yeah, kevin O'Leary has lots of businesses in real estate there and he wants to pull out. And again, I think that it's not necessarily because of what's happening, but it's the extra stuff. Like, like you said, if you're speeding down the road, they capture you victimless crime. But you got caught on a webcam light or one of the camp lights. Right, you're still going to get your ticket, okay, uh, jelly, by the way, did the math for you, since you completely screwed it up and he said it's $4.56.
Speaker 2:Oh, maybe it's even worse than I thought. So there you go.
Speaker 3:You can't even buy a couple of in New York you can't buy anything, right, yeah, for $4.56.
Speaker 2:Oh, the funny thing is I was going to say five below, but I don't think they have five blows in New York. No, but like well they have 10 above vacation in Dominican Republic.
Speaker 3:They have a four below. Oh, of course they do. Yeah, uh, so you almost, so you'd be able to shop there.
Speaker 2:If you want, if you live in New York, you go to the Dominican and chop it four below.
Speaker 3:But the thing is is if you were to do that and speed through that light, right, Well, I guess you know, I don't know, man, I kind of make. I was going to say if you did that, it's like them saying, all right, we're going to, you're never going to be allowed to drive in the state of Michigan again, right, or or do any business like. It's just that extra, extra, extra stuff. But you know they do do stuff like that. If you, if you're going insanely fast and they catch you and to where you're at criminal speeds, they will take your license, sure.
Speaker 2:So you know, I mean, I mean, that's what we talk about too, right? The other thing is, if you think about what, what, uh, like the impact, the impact. Think about the impact of moving that business out of New York. Well, yeah but he, but I mean he can't move Trump.
Speaker 3:Towers, Right you know what I mean.
Speaker 2:I mean, he probably could but the building would just be empty and then everybody that works in that building would be unemployed. So what would be more detrimental?
Speaker 3:Yeah.
Speaker 2:And I mean it's very, very simple. Elon Musk moved, moved, um, you know, Tesla out of California for the same, for the taxes and for, like the, this kind of stuff.
Speaker 3:So this is interesting for those of you that um again had a chance to see Grant. Uh, I know if if you're an EXP agent. Uh, I know he's been at EXP events and and he had talked about um Cardone capital. Uh, grant announced to uh on X to him that he was going to be in his team is immediately ceasing all investments into New York city real estate, declaring that this is all political right and it's going to lead to price deterioration, deterioration. This is what he put. He put immediately discontinue all underwriting on New York city real estate. The risks outweigh the opportunities at this time. Recent political decisions will continue to deteriorate the price and benefit the states that don't have these challenges. Focus on Texas and Florida.
Speaker 2:That's interesting, so it's interesting, right, because, and then the, the the other thing about, like Texas is the the cost of living is so much cheaper than California, new York, yeah, you know, the real estate is half, probably, even Probably even less than half, of New York and California both, right, right, you know so, so that I mean I don't know what's that gonna do to to Texas, right, like so it's, it's great, I mean there's already there's already a real big flood like.
Speaker 3:So you know, following the comedy scene, like I do, it's interesting because there is such a big flow in the Texas right now. Yeah, from all of these other states, from New York, especially California. There's so many people that are moving into there just just because not it's, I don't know how else to put it there's, there's more freedom to do the types of things they want to do, which is crazy, because they're the ones that always supported what they were supporting Everywhere else.
Speaker 3:And then yeah came back and again. Not to make this political, but there's a lot of people, if you're in the Texas area, or if not, and you happen to be at one of those brokerages when you can sell real estate because you have a statewide broker, an international broker or national broker, I should say you should definitely take advantage of that. There's a lot of people looking at for Florida's hot right now too.
Speaker 2:Well, you know, I got a friend that that has. You know, he lives in Florida and and has a part of a team here in Florida and and the reason he did that was because, because of the flow from Michigan to Florida, he's been putting out these stats like no of the people moving from oh, got you Florida Like it's and what.
Speaker 2:The other thing that helped change all this was COVID. Yeah, because everybody started working from home. Yep, then the big company started saying, well, I don't we need this big building if everybody can work from home, when we're still doing the same thing we were doing anyway, right? Like why pay for the building, right? So that's where I thought commercial real estate would get weird. I guess it hasn't, but I thought it would get weird. But I, you know.
Speaker 3:I have. I have an interesting prediction, and this is just my, my opinion, right, but I don't think. I think what's gonna end up happening with commercial because it is. We're starting to see this. You, you have these giant places and malls are shutting down. Yeah, but if you look at the amount of space that that mall has, for instance, you know easily you could convert that into apartment buildings. Yes, and now all of a sudden, we have real estate and the infrastructure and all that stuff back again and we can balance stuff out by taking some of these commercial places and turning them into residential zones.
Speaker 2:Yeah, it's a good point and I think I think say, when we had say it on Three years ago Probably now you know, one of the things that he had talked about too was like these, these, these like shared spaces, almost right, like, yeah, where it's residential, commercial kind of all all.
Speaker 3:Look at the line. Yeah, if you guys have not seen the line, this is the scariest, coolest and craziest thing I've ever witnessed in my life, because it's it's all the sci-fi movies Actually coming to life.
Speaker 3:Yes you have districts, you have this one line where, like you walk, you walk upstairs and that's where you live, and then you walk down the stairway and that's where you work. And you walk down the stairway even more and that's where you eat and Buy your groceries, and everything is enclosed inside of these two giant mirror walls so that nature doesn't know that. You're there in the middle of the desert, in the middle of the desert, and it's huge, and it's a huge project, it's a trillion dollar project. That's right more than that.
Speaker 3:I think, I, if you have not seen this or looked this up, google the line and you are, and watch the the video. It's not fiction, they're building it.
Speaker 2:It's being built right now.
Speaker 3:Yeah it's nuts.
Speaker 2:Yeah, and there's the video, the AI like walkthroughs and the videos and all the things crazy it's crazy, but yeah, if you haven't seen the line, check that out.
Speaker 3:So, anyway, lawsuits, getting back to lawsuits, some other stuff that you looked up this morning is yeah, this and this. Hang on one second. I love this comment. This is from your mom. Oh yeah, your mom says good morning guys. I'm late again, but if you could start your show at nine I'd be on time. I Would love to do that. You know it's, it would be, it would be great. I just, I just don't, I just I don't think it would work yeah yeah there's too many, too many agents.
Speaker 3:We don't want to give them more of an excuse not to be doing what they need to be doing. Correct the first thing in the morning. Correct.
Speaker 2:We already go about. This is supposed to get this supposed to get you up and moving.
Speaker 3:Yeah, yeah, at least thinking about yeah.
Speaker 2:At least yeah something. I don't know.
Speaker 3:We're math songs and but yeah, so the lawsuits. So, going back to another lawsuit, jimmy Looked this up when we're talking about this this morning. If you guys didn't know this, this will blow your mind. Go ahead, jimmy, tell about how long this is mine actually going on.
Speaker 2:Yeah, and we thought we were on, we thought we were like front runners in this we thought we were like on top of it guys.
Speaker 2:Yeah, we thought we were cutting edge and you guys know we taught Johnny and I've been talking about this for a couple years as far as yeah DOJ verse it's one of our first 10 episodes we were talking about yeah, the Department of Justice vs NAR and all the things, and at the time, the only thing we were talking about was the love letters, yeah, and we talked about pocket listings and the and the and the buyers Needing to pay commission at the time too, that was.
Speaker 3:There's a little hint of that.
Speaker 2:Yeah, that had just kind of yeah, that wasn't even like in our mind, it wasn't even a real thing. Right, like the crazy thing is, now it's become a real thing Everybody's panicked about. Yeah, but but guys, listen to this, this I didn't have any idea this happened. So this DOJ NAR thing the litigation began in the 1940s 1940, that's a long.
Speaker 3:Pull your calculator out Where's. I'm not where's jelly jelly.
Speaker 2:Do the jelly jelly. How long ago was that? 1940? Yeah, my mom was born in the 40s, okay.
Speaker 3:Cool, I don't know so. Just referencing 40.
Speaker 2:Yeah, so the litigation began in the 1940s against the industry adoption of standard rates of commissions.
Speaker 3:Which is so. Here's what I said to Jimmy. Interestingly, and think about this, they might have a point. He did it too. Thank you, that's 84 years ago, yeah 84 years ago. Tisk, and she just woke up to watch you I know, there she is. Oh, she says thanks, jimmy. That's 80 years ago. I'm only 78, though. There you go, yep, but when you told me that, I said what are they talking about the? The people have paid the same forever.
Speaker 3:It's always been 6% yeah give or take check with your broker. We're not blah blah, blah blah, or we're trying to, but but duh.
Speaker 2:What they're saying yeah so it's the 40s yeah standard rates of commissions, with a notable US Supreme Court decision in 1950.
Speaker 3:Yeah like.
Speaker 2:Think like 40s and 50s they were arguing about which is crazy.
Speaker 3:They had other things going on at that time.
Speaker 2:Well, we've had the things going on at this whole time. And then it goes into a massive 1983 report by the federal trade commission that explained and documented how the industry uses informal collusion, yeah, and coupled rates to set these rates.
Speaker 3:See, that's why that's crazy, but it's true. Yeah, but, but, yeah, I guess. But how you fix that in today's day and age? Because everybody just assumes and look. You know what assuming does.
Speaker 2:Yeah, I do it sometimes people are wrong. Well, it makes an ass out of you and me, okay, or you can go that route, jimmy, if you wanted to.
Speaker 3:I just like to say where. But what's interesting is, like, there's the couple things that are really interesting about that is what, like I said, everybody like how would you, how would you fix this?
Speaker 2:How would you fix this, jimmy? Well, I think that's what's coming down the pipe. I think what's coming on the pipe is it's going to go.
Speaker 3:Government's gonna come in and say we have to be the ones that fix this by setting more laws.
Speaker 2:Well, I think it's gonna be three and three. I think that, I think is. I think that's where the definitive line is gonna come in but, but, but right.
Speaker 3:So it's almost where it's always been. In the first place it is but.
Speaker 2:But that's where the collusion. The collusion came in when we just said it was always six, but we never really said that.
Speaker 3:We've said about six yeah, right, like that's the least. That's how I was always well talk about it because we can't say six outright.
Speaker 2:You know there's. There's agents out there that go for seven right away.
Speaker 3:Yeah, of course. So my question is this do you think that they're gonna set not three and three be the standard, but they're just gonna come out and say okay, listen, from this point on it's three and three, like I.
Speaker 2:I'm. I hope that I If it so that I think they're gonna have to do that.
Speaker 3:That's the only way they're gonna be able to set this whole thing?
Speaker 2:I think so, and that's not a reset that so for some people, but I think that's the only way the consumer is gonna get it.
Speaker 3:Because the other ones will never figure it out.
Speaker 2:Well, I think then the consumer is always gonna say well, the guy, last guy did it for Two, could you do it for two?
Speaker 3:Well, so you see, but so here's the deal with that right you just hit on For the majority of real estate agents. Somebody mandating that they have to take 3% is gonna be in their best interest. Yes, a hundred percent for almost all of you listening, yes, which sucks, because for the people like Austin and I always charged more, right for the people that are okay charging Savage, having a sliding scale from seven to ten, like all the sudden there it's gonna go down for them. You know what?
Speaker 3:I mean right, their average commission rates going down.
Speaker 2:So yeah, I don't know if it's the average right. I mean you, you always had to battle to get to the higher one right. Well, it was just known right, but maybe, maybe you could always go more, but maybe the standard is three and then you could go. You know what I mean when it already is but, but it's not the thing.
Speaker 3:You can't go underneath it Because nobody. So what is what? So essentially okay. So let me see if I can so.
Speaker 2:So it just kind of came up in a chat last night that all right that we were having yeah, what an agent here locally. We're name nameless on this show. All right, but was advertising list your house with me for 1%, okay, yes, I don't know what the purpose of that is like. Like, if I, if I did a listing for 1%, yeah, I am not making any money, hmm. You're making 1%, but but nobody's gonna know, buyers agents gonna bring that fire to me. He's saying 1% total what? Yes?
Speaker 3:So 0.5 and 0.5.
Speaker 2:No, he's taken one and then you're on your own. So so this is where my concern is what this is where my concern is if we don't put like a standard base on this.
Speaker 3:Yeah.
Speaker 2:That that we run into this. Well, you're on your own to fight for it like type deal.
Speaker 3:But so the problem with that, though, is that that agent wasn't doing their fiduciary duty, because they have to know, by not offering any commission to the other side to actually, by the way, sell the house that's the selling agent Nobody's going to see the home and it's.
Speaker 2:you know, what's funny is agents get confused when you, when you look at like your contract right, yeah. Because there is no buyer's agent Right.
Speaker 3:There's a listing agent and a selling agent.
Speaker 2:Yes, At least here in Michigan. Yeah, and a lot of agents like well, it's confusing, there's no buyer agent.
Speaker 3:No, because you're the selling agent right, you're the one that actually sold the house. You're the one that actually sold the house, not me.
Speaker 2:Right, I'm the marketer, correct, I market the house, you sell it, right. So so that it's funny, because people get a lot of agents get so confused by that, yep, yep. And they're like, well, where's the buyer agency thing? I'm like, well, they're, they're, they're we do have buyer agency contracts, which they should be seller agency. Right, there should be a listing contract and a seller's contract, which is a buyer's agency. So we confuse our agents too, like here in Michigan, yeah, like again. But but so so that's where my concern is. If they don't put any standard of regulation on this, that it's, it's zero and zero until you get whatever you get.
Speaker 2:Yeah, yeah, which would be worse than just saying which would be worse than saying if you can't go below three Interesting, because then I think, and I think, only I think, especially from a consumer standpoint, because the consumer is always going to bet like so that's, it's like it's like a year of Michigan.
Speaker 3:We have 6% tax Once they've said that that's what it was. Everybody. That's what everybody pays.
Speaker 2:Yeah, you pay 6% tax, yeah, and, and so the. Then this goes on. A two there was a 2006 congressional hearing at which the DOJ, the FTC, Redfin and CFA criticized industry price fixing. So they keep going back to this price fixing, this collusion, because it's always been just one commission base, so. But then so there's six.
Speaker 3:So let me get this straight. So there's there, there. So the solution then, if I, if I were to just simplify this in my mind, which which is confused myself on this, the solution to making sure that we don't fix the price anymore is to fix the price.
Speaker 2:Yes, yeah, I think. Which which fixes the price? Yeah, Because I don't. I don't think there's been, because because it's always been one commission and then it was always just like. For us it's always just been known it's 6%, but the seller gets three, the buyer gets three, like it? Just that's just how it works. Everybody's like and I think for the most part, this is where it gets crazy, right.
Speaker 2:This is where it gets crazy to me when you get the government involved. Sorry, government, don't shut us down, but when you get them involved, that's where the water gets muddy.
Speaker 3:Yeah.
Speaker 2:It's like no, like stop, and then you have. Then you do have the agent out there that goes all this, do it for 1%. Yeah, You're ruining everything.
Speaker 2:You want to we were all having fun. You were doing three, I was getting three, everybody was great. Now Joe Schmoe comes along and wants to do 1% because he can't list anything. Yeah Right, he can't convert on the phone, so his only way of getting clients is going. I'll just do it for one. You know what I mean. Like that's the part that kind of ruins everything. It's like you just ruined our fun. We were having fun, we were all in the chair.
Speaker 3:How do you really feel?
Speaker 2:about it we were having a great time. Yeah, you just came along and ruined it. Yeah, you know, you flattened our ball and now we can't play. Runs up with a knife.
Speaker 3:Yeah.
Speaker 2:He just broke my bat and walked away. It's so funny.
Speaker 3:But but did he though? Because think about this if okay, I'm going to play devil's advocate on this. Number one. If you don't. Did he really do that though, Jimmy? Because you don't want that client in the first place? I'm telling you right now you don't want that All right. Number two he's not going to sell it. So if you really did want that client, that dude's going to be expired Expires yeah. And then recall them.
Speaker 2:Right.
Speaker 3:Yeah, or wait till he expires, then list his home himself and then expires, then and then, and then do it Right so you'll still get that guy back if you really want them right. Because, like I said, at the end of the day, that's just such a disservice to your seller and it just it's not if. If the purpose behind that is, oh, it's all going to be, I'm just going to get a ton of, I'm just going to get a ton of listings, so I'm doing that, the wholesale deal Right. Well, you've now just made it all about you.
Speaker 3:Yeah, and fiduciary duty, and again something I've always taken real serious we're supposed to do our best for our client and if that means charging so that they there's something on the other side of it, man, I do want to. I do want to hit this because I thought this was a really good idea. Tom has had to chime back in. We're talking about your mom not being able to watch the show until nine o'clock. Tom has said that if you move your mom to Europe, she could actually then watch the show in the afternoon.
Speaker 2:Yeah, oh yeah, we had the the fireside chat with with Glenn Sanford last night and he was in South Africa.
Speaker 3:Okay.
Speaker 2:And it was five o'clock here. It was midnight there. No, it's five o'clock PM here.
Speaker 3:Oh, I got you Midnight there.
Speaker 2:So yeah, we can move her to South Africa.
Speaker 3:There's the experience out there, here you go and hey, you'll get a sale out of it.
Speaker 2:That's it. That's all you got to do. Referral at least.
Speaker 3:Yeah, you can sell it for 1%.
Speaker 2:Yeah, but no, like I think it's crazy, like the without the standard and regulation regulation, I think there could be an issue.
Speaker 3:Right, well, there is well there is right Again, the consumer? I don't know, man, I think everything is right now. Everything is moving so fast. You know it's funny because I'm I'm a fast moving dude, like I'm into technology, like I love, you know, I love all that stuff. Your mom also says she loves the idea about moving to South Africa. So warmer just want to let you know it's warmer there, it's nice to know.
Speaker 3:Let's see Jelly Jelly has a comment on this. He says maybe it will just be the amount of the commission amount. Remove the percentage, 300,000 equals nine, no fixed at a percentage sign and just an amount. Well, how would you, how would you, your mom's, your mom's, chatting back and forth? You can't see her comments.
Speaker 3:Oh she says Johnny's 100% on the phone. So but yeah, you know again. But where does that 9000 like? How did you come come to that? Well, it's a percentage. You know what I mean. So everything does kind of come back down to percentages again.
Speaker 2:Yeah, I was trying to find this other one because they did have a. They did have a statement in here, yeah, so so some of this, some of the details said it's critically important that buyers negotiate buyer agent commissions before their agents search for properties. Otherwise, buyers agents could steer buyers to properties with the highest dollar concessions of potential against compensation. So it goes back to that same thing, like it goes back to if they're not offering me anything, I'm not taking my buyer to that house.
Speaker 3:Interesting, Very interesting. But then that goes back to if you're a buyer's agent, you owe. You owe that percentage. So it goes back to the buyer protection. On the three days, the three page agreement, Okay, that's great. I'll sell you the 1% house, but then you're going to be responsible for the other 3%. Man, I'll tell you what. But you got to get that upfront. Real estate is an ever changing environment. It's going faster and faster. The stuff is getting crazier and crazier. Stay tuned here. On free for all Friday Every Friday is we bring the news to you and guests. If you'd like to be a guest, by the way, we have three open dates coming up for open calls. So if you are a listener and you have been looking for your chance, we have three dates to fill. You can go to guests at free for all Fridaycom. Send us an email with your details and we will get you scheduled in. Jimmy, you've been fantastic Done, Even awesome. If you have any questions or other emails, we'll talk to you next Friday.