REality

Mastering Real Estate Strategy: Steve Dozier on Client Loyalty and Adapting to Industry Changes

• Gary Scott

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Unlock the secrets of real estate success with Steve Dozier, a veteran of the Asheville Mountain region's real estate. We promise you'll gain invaluable insights as Steve recounts his remarkable journey, transitioning from a cable company employee to a key player with Allen Tate Beverly-Hanks. His deep-rooted community involvement, from the Chamber of Commerce to local planning boards, has not only bolstered his business but also opened doors to countless opportunities as he nears retirement.

Understand the art of strategic real estate listing through meticulous planning and execution. Our discussion spans Steve's two-visit strategy for gathering essential historical data and crafting top-notch marketing materials. We explore the significance of correct pricing to avoid frequent adjustments and the heartfelt stories of going the extra mile for clients. Steve's proactive approach in targeting neighborhoods and maintaining strong connections with past clients ensures a steady flow of business and market insights.

Discover how to build unwavering brand loyalty and maintain client relationships with Steve’s unique tactics. From giving away pies and wine during the holidays to utilizing Lolo gifts for client engagement, Steve shares his secrets for keeping clients delighted and loyal. Learn about the impact of consistent communication through quarterly market reports and the power of meaningful closing gifts. We also delve into the industry's evolving landscape, emphasizing the need for adaptability, continuous learning, and effective communication to foster client trust and successful leadership. Join us for a wealth of knowledge that promises to elevate your real estate career.

Speaker 1:

Welcome to Reality Podcast. I am your host, gary Scott. Today we have, from the Asheville Mountain region, steve Dozier. Steve, how are you Fine, how are you?

Speaker 2:

today, Gary.

Speaker 1:

I am absolutely great. It is great to see you While our listeners are only going to listen to us. You and I have the good fortune this morning of being able to see each other, and I'm well aware that while you and I are recording in the morning, our listeners may be listening at any and all times of the day. We're excited to have you. So, Steve, we're going to jump right into it and just tell our listeners how you got started in the real estate business. Tell us a little bit about your journey.

Speaker 2:

Well, I got started right at 23 years ago. My wife had been in real estate in various forms, worked for a real estate attorney developers, worked as a licensed assistant for a top producer agent in the area and the cable company I was working for at the time in this same building that I'm in now, got sold to another company and we did not see eye on many things. So I ended up deciding to get into real estate back in 2001, went and got my real estate license and immediately went and got my broker's license, which you can't do anymore. But glad I got that out of the way because I think it's gotten a lot tougher to get your license these days. But started out working as a buyer's agent for a top producer. I saw pretty quickly that I was getting the mobile homes on lease lots so decided that was not the way to go.

Speaker 2:

But I've actually been with four or five other firms through the years. But I have found a home with the Allentate Beverly Hanks Group and I continue to get calls to go possibly to other places. But there's no place like this place and so I have no intentions of ever leaving until I retire someday. I will be 70 in November, but I'm still in the office around 7 every morning pretty much, and work until late in the evening.

Speaker 1:

Well, steve, you and I have known each other now for, I think, just over three years and from the first time we met, kind of early August of 2022, really a great appreciation for you. How you look at our business, evident of your previous comments your loyalty and commitment to the industry and to our company. You mentioned that you had been with four or five other companies over time. When did you join the then Beverly Hanks company?

Speaker 2:

I think I've been with Beverly Hanks now for 12 years out of the 23. I started in the Biltmore Park office and I was so involved in Henderson County. I was chair of the Chamber of Commerce. I've been on the planning board for Henderson County 15 years, served 10 years as chair community foundation. All of my activity was involved in Henderson County. So I moved down here to be with Sonny Eiler and the group down here and it's been home, Absolutely been home.

Speaker 1:

I'm going to follow up on your previous comments. You talked about your community activity. Know, I think it's so important today in our business, steve, you know for everyone to be involved and so just talk a little bit more about you. Know what that involvement has meant to you personally and then ultimately it probably became a real business opportunity. But you opportunity, I just think it's so important today in our business to give back Evidenced of your past. You obviously believe in that as well. Share with our listeners a little bit why you think that's so important.

Speaker 2:

I've always felt that it was important to give back to the community that you're in. Having served as chair of the Chamber of Commerce, I've got to be on TV interviews that I never would have done before as just a non-involved agent. I got to meet people that I never would have met before. Being the chair or being on a board has certainly helped. I've helped the county and the city by a number of places and now when they want to buy something they're calling me rather than somebody else. And I have helped Henderson County by a number of properties a new sports complex they're getting ready to do the city for the new police station. But I'm also on the Economic Development Board for Henderson County as one of the directors. I'm on the Community Foundation Board and the Grant Committee.

Speaker 2:

I probably give a little too much but I enjoy what I do. I've also. My team is my wife and Kim Owen, who joined us shortly before the Alan Tate merger, and I've got both of them involved in committees. My wife got on a nursing home committee that took 60-some hours to be accredited for that and she's not liking me too much for that, but she enjoys the work. And Kim is on a community grant committee and enjoys that. But I just feel like we've got to give back to the community and I've been a strong believer in that and I try to encourage everybody else to be involved as well.

Speaker 1:

Great. Well, it obviously has served you well personally and then obviously professionally. I always tell people that it always works out. You never do it for it. That's not your motivation is not to get business. It is a byproduct of simply doing the right thing with the right people for the right causes. Steve, we're going to jump around a little bit. I think that you and I were going to talk later in the podcast about team, and so you mentioned your wife, you mentioned Kim. Let's talk a little bit about number one why a team? Number two, when a team? And then number three what makes it so valuable to you? So let's start with the why of a team from Steve Dozer's perspective.

Speaker 2:

Well again, I had done this for 19 to 20 years by myself. My wife was working for a developer across the street, so she wasn't very much involved, and I was doing somewhere between 15 and 18 million a year and as I was getting older I needed to slow down just a hair. So Carolyn came to work with me doing more back office stuff, did some showings and all, but then Kim had started a little while before. But then Kim had started a little while before and I saw the way she presented herself and the action she did with her clients and I thought it would be a good addition to the team. It has turned out to be a great addition to the team. She mainly works as a buyer's agent now, but she is going on listing appointments with me. Because of the man-woman thing, it seems to work well.

Speaker 2:

We went on a listing appointment the other day. They immediately fell in love with her. They put up with me, but they immediately like her. So it allows me also with the team that my wife and I are headed to Florida Friday for a week-long vacation. As an independent agent I really can't do that. If I do, I need to pay a referral to somebody and we've got a goal of where we're trying to get to this year and vacations just don't happen. But I took two and a half weeks to go out to Wyoming to see my brother who has now passed away. It just allows the team to be able to have flexibility on both parts. Kim goes away, we cover for her. If I go away, she covers for me and Carolyn, and it's absolutely worked out great.

Speaker 1:

Sounds to me like the consumer is one of the big winners. They get continuity, they get consistency, they get choices, and I think you talked about you go out with Kim or you go out with Carolyn. You know, I think that kind of choice for the consumer is something that today's consumer wants. You know, the consumer of today wants choices and I think that you've built that into the building of your team. I think the other thing that I find interesting is, you know, teams range in size from three to 30. And it seems to me, Steve, that you have found a really sweet spot. You know you've got an interesting combination. You've got your wife, which a husband-wife team is not an unusual partnership.

Speaker 2:

And not always easy.

Speaker 1:

Not always easy, you know it could be because you never get a break and then. But you brought on Kim and it seems to really really be working for you. I'm excited about your vacation. Before we got on the air, we were talking a little bit about you were going to take off for a week and you're going to be able to do it, uh, you know, with with peace and, uh, you know, confidence that you'll be able to do what you're supposed to do on vacation but at the same time, your business will not miss a beat, and I think that's a real benefit, uh, you know, particularly in today's world.

Speaker 2:

Certainly agree.

Speaker 1:

Uh, steve, you know, one of the things that that find fascinating during these interviews is you know, everyone that is on the Reality Podcast, you know, has a different journey. Critical for success in our business, and any business, is this concept of mentors not only having mentors in our lives, but being mentors to others. So as you reflect back on some of the successes that you've had, any mentors strike you, these individuals that just really made a difference in your life. My question that I love is who are they and what was it about them that inspired you to do this?

Speaker 2:

there's been a number of people. Actually the first agent I worked with who was the top producer in the area. She showed me some things that, uh, I wanted to improve upon. Um work with her for a grand total about four months until I saw the lease lot on what a mobile home was not going to go very far. Um, I've always had folks that tend to be older than I am that I've listened to and seen the history of what they've done. They've been all successful Under the leadership of Sonny Eiler. He's a great mentor, helps you through issues.

Speaker 2:

But it's been folks that I have learned from in the business, folks that are friends, that are in the business. You pick up a little something from everybody that you work with and I've tried to take those things and enhance upon them or do them the same as what they do. And but also I've mentored a number of agents through Alan Tate and Billy Hanks and I always try to share that. I actually had one lady that started with us and I had her in tears the first day and I apologize later for that, because my goal was to get her producing as quick as she could and she did not want to work at the same pace that I was working at, and so she got a different mentor and it worked out fine for her. But you know you're not always a great mix for everybody. But I've enjoyed the mentorship role. I've enjoyed being mentored by other folks and I learned something through our company meetings and always, even at almost seven, I'm still learning something just about every day.

Speaker 1:

Yeah. So I think that's a really key point that I'd like to just stress here as we get a chance to chat. Steve is, you know, every day, you know you're 70 years old, I've been in the business. In the next couple of weeks it will be 38 years. I'll be starting my 39th year.

Speaker 1:

Really, not a day goes by or a meeting goes by, or a personal interaction, professional interaction, goes by where you don't take something and you know I think it's so critical something and you know I think it's so critical, this constant learning. And you know, one of our goals on our podcast is for everybody to take it. The three significant takeaways, you know, not 10, not 20, but you know, listen to you and I for 45, 50 minutes and what are three things that I can actually do tomorrow? And you know, I think one of the things that you and I share is a passion for learning and I really think that, particularly with some of the changes that are going on in our industry and, quite frankly, in every industry, is boy the ability to learn each and every day and really appreciate opposing views. I think that's another thing that I really encourage our listeners is you know, don't shut the door to somebody else who's got a different viewpoint, you know. Try to understand it, open your mind and allow you to digest what is being said, why it's being said and is there value in it.

Speaker 1:

I've created this visual of a coffee filter and I think that we load information to the top of the coffee filter, steve, and then it filters out, and then there's always a good brew that comes out if we allow it to go through the filter process. So interesting. Let's shift gears a little bit to some specific strategies that you have used to build and to grow your business. I think that let's start with listings, because the old adage list to last. Talk to us a little bit about some strategies for getting listings, marketing listings, getting listings closed. What are some things that Steve does that you think our listeners would really appreciate and maybe add to one of their three takeaways?

Speaker 2:

Well, I do a lot of snail mail, marketing to neighborhoods and we picked up a listing this week that the guy held on to the letter that I sent out in early 23 called us to list his place. He's not talking to anybody else. He held on to that for almost a year and a half or so. I've had people hold on to it for a year or longer and will call. But I typically send out what has happened over the last 10 or 12 years on one side of the letter, on the other side, what has happened in the last year, because everybody wants to know what John's house down the street sold for and I take a bunch of MLS data, dump it into Excel and do pivot tables and make a decent looking presentation to it. But as far as listing, when somebody calls I'm pulling all the information in the world. If they sold their house before, I want to show them the old pictures and see what they've done to the house. But we always do it in two visits. I've never walked into somebody's house and go here's your price and if they start to tell me what they think their house is worth, I will stop them and say I don't want to try to get to your price. I want to go back and see what the market is saying. So when I come back the second time, I'm coming back with a notebook that's about three quarters of an inch thick to an inch thick, with the data that I pulled. I'll show them that long-term history. I show them how I came up with pricing. I show what they'll be in competition with if they go on the market that week or that month. I show them what I'm comparing their house to with the inside pictures so you can look at this house is dated, this one is not, and do those kind of comparisons. But I always have a professional photographer come, I have somebody professionally measure it and they're very accurate in their measurements. Professional brochures. We just do all the right things and then, once we have the listing, we always send out just listed cards to the entire neighborhood and typically I know right now we're doing 50, but I do it to the entire neighborhood. I don't mind having that extra expense to get the word out, because somebody else in that neighborhood may know a family member or a friend that wants to be in that area. But once it's there, I'm in the paper. Every week I'm in the Homeless Land magazine neighborhood may know a family member or a friend that wants to be in that area. But once it's there, I'm in the paper every week. I'm in the Home's Land magazine every month.

Speaker 2:

We do some AdWorks campaigns and we're looking at a different level of service with that. Now we just work it like crazy. I try to price it correctly. I don't want to have to keep going back doing price adjustments. So I will typically not talk to anybody about price adjustment until a minimum of 45 and typically 60 days, and then I'd go back with the history of what has happened. You know the number of showings, the comments that have come back. But we really, really work with our clients to hold their hands through the process. We've had clients. We've had one that we've had to adopt, an elderly lady whose son stole about $300,000 from her, and we have adopted this lady and got her moved and settled into an assisted living place and we just try to go above and beyond the normal call of duty with folks.

Speaker 1:

So I think a couple of takeaways. Number one Steve always has a two visit listing presentation. I think consistency in your plan is such an important thing as we think about building and growing our business, having a plan and being consistent with it. I'm going to go back. The other thing that I think is interesting is you take a year, but you also go back 10 or 12 years. Other thing that I think is interesting is you take a year, but you also go back 10 or 12 years, so you really provide a historical perspective and then you also come to the recent perspective. I think that's an interesting and certainly effective strategy. Let's go back to the letter. You start out by talking about a letter that someone has held on to for 18 months. You start out by talking about a letter that someone has held on to for 18 months. Is this a geographic farming letter, steve? Is this a sphere of influence? Talk a little bit about your connectivity to your past clients as well as your sphere through this letter graphs, pivot tables. What's the plan around that?

Speaker 2:

Well, the plan is to, when I go to a listing is provide all the information needed so I can look at and typically like this one that had held onto the card since 23,. He bought his place in 2000 and has not done a bit of updating to it, so I wanted to show him what the market was in 2000. I can go back to 2000 pretty easily and showed it through 2024. And you can see the growth. But over the last couple of years or so that particular neighborhood has dropped in value somewhat. So I think they need to see the real market data. But again, just having that market knowledge I think is such a tremendous help.

Speaker 1:

And I kind of lost train of thought there for a second. I think it's about giving people valuable information as you keep in touch with them. I'm going to pick your memory you had been an excellent panelist for us on a program we have called Take Talk Live, excellent panelists for us on a program we have called Take Talk Live and, steve, if I remember correctly, you shared with that audience a perspective that you have as it relates to, if a listing comes on in a community, inevitably a listing or two will follow within a period of time. You then proactively have a plan in hopes of being the agent of choice for the other listings. Do you want to walk us through that strategy? I love that strategy. Take some discipline, because you have to keep an eye on the market, but walk everyone through that process. I think it's fascinating.

Speaker 2:

Well, and I've looked for a number of years. Anytime a listing happens in a neighborhood, within seven to 10 days there is typically another one that hits the market and with another seven to 10 days after that, another one typically hit the market. We have been so busy that we have kind of fallen away from that a little bit, which is a good and bad problem to have. But within seven days you may have already reached out to somebody that has an agent, but again they may not have. It takes us about a week and a half or two weeks to get everything done with the photos, the measuring and all that to get something in line. For two weeks to get everything done with the photos and measuring and all that to get something in line.

Speaker 2:

So it may be that we need to refocus that effort to start, once we have a potential listing, to start sending out early releases of that and again get ahead of that curve where they're already calling somebody else because they saw John's house down the street, go on the market, but again sending that historical data. It's extremely helpful that at least they have a name and a face. And if you can do AdWorks campaigns to a particular neighborhood again, that's another reminder that I'm in the business. I'm there for you and you get a letter or so a day before or day after. It's just another reminder of who we are and what services we provide before or day after.

Speaker 1:

It's just another reminder of who we are and what services we provide. Steve, do you specifically have geographic farms that you've been working on at some point in time over the 23 years that you've taken community A, b or C and really that's been your geographic farm, or are you predominantly a sphere client, prospector, farmer?

Speaker 2:

Well, and I do something different and I don't know that anybody else knows how to do this.

Speaker 2:

I'm sure there's other people that are a heck of a lot smarter than I am.

Speaker 2:

But I'll go back and look at every bit of activity in a neighborhood within the whole county and we probably have 500 or hundred subdivisions in Henderson County and I'll go back and look at the listings that have sold the current active listings, and then I'll look at what has been the highest number of sales in a particular neighborhood. So if there's been 24 sales in that neighborhood and there's one or two or zero active listings in there, to me there's enough activity there that I need to be farming that area. And I don't know if I've ever shared that report with you, but I'll send you a copy of it, gary. That'd be great. But it goes down to where there's one listing but there's been 20 sales or 40 sales. To me to do snail mail marketing to just any random neighborhood makes no sense. But if I can look and determine what has been the most active neighborhood, my chances are much higher than just farming to any unknown neighborhood or what activity has happened there.

Speaker 1:

So I think one of the big takeaways is know the market, know the data and you know. You talked about the letter and the graphs and the pivot tables and you know. One of the things that you know has always impressed me, as you and I have had conversations, is this market knowledge. You know the market inside and out. No-transcript with a buyer. Be a market expert every day, because you never know when that person's going to grab you at the coffee shop and say, hey, what's happening here? And Steve and your group certainly know that.

Speaker 1:

Shift gears again, we talked about listings. The other thing I loved about your strategy is you don't talk price change for 45 or 60 days, which tells me that you are very disciplined in pricing of the property. So often sellers will well, let's give it a try. Well, let's give it a try. I can't imagine Steve gives a lot of try if my price change conversation isn't for 45 or 60 days. I've heard many agents say well, I'll give it a try, but if we don't get any action in two weeks, let's readjust it. That doesn't seem from my perspective, to be a great strategy. So I love your 45 to 60 day. Obviously, market conditions days on the market may impact that a little bit. So let's shift gears to buyers. Okay, as you look at your business your percentage of business listings sold versus buyers. What's your breakdown in business from you and your team, steve?

Speaker 2:

Of listings and again, that's how you stay in this business and you know Kim has been such a big help with buyers but we're probably running 65% listings, 35% buyers. Kim's across the way here, so if she knows any different, speak up. She says I'm okay there. But again, without listings, and a lot of our business comes from past clients. We do a pie giveaway or a wine giveaway at the end of the year and that's a great way of touching. We also do Lolo, which I think Alan Tate has merged into that. We're seeing more and more people participate in that and we always send a thank you note when they acknowledge. We get a notice from Lolo that John Doe bought a smash burger from Buddha's. So I always send a thank you note, appreciate that. If we can ever help, let us know. But probably 85 to 90% of my business comes from past clients though, by staying in touch with them, giving them things, calling every once in a while, just staying in touch with them.

Speaker 1:

Steve, let's piggyback off that a little bit. You talked about a pie giveaway. You talked about a wine giveaway. You talked about Lolo 80, 90% of your business repeat referral makes sense after 23 years. Anything else you do consistently to stay in touch with these folks. That is a strategy and that you guys execute on a consistent basis.

Speaker 2:

Every quarter I order 215 quarterly market reports. I send them out to the head of government in the county, the cities around the finance offices, to the banks. Neil ran into First Citizens Bank not long ago and there's my quarterly market report sitting in a national bank because I know the area manager here. But again the towns are calling and saying what can we do? You know we're facing an affordable issue in Henderson County pretty much across the world right now. But that information helps them to understand what's going on in the marketplace and to reach out to somebody that has a feel for what's going on on the marketplace and to reach out to somebody that has a feel for what's going on.

Speaker 1:

Tell me about the pie giveaway. Is that Thanksgiving? We interviewed Marlon and Carl six, eight months ago, two top agents from the Charlotte market and you know I entitled the podcast from calendars to cookies. Marlon believes her calendars were the key and Carl delivers 20 cookies to 200 families. So tell me about the pies and the wine and when and who does get to receive those.

Speaker 2:

We send out an invite to our better part of our database, folks that have been repeat clients and things of that nature and we do the pies shortly before Thanksgiving so they can have that Thanksgiving. We did wine for a couple of years and that kind of tailed off, but the pies are actually less expensive but I think they're a little more meaningful. We always have a closing gift for folks too. We always have a closing gift for folks too. We had been giving away Cutco knives and we have now gone to stadium chairs foldable chairs with our logo on the back of it, so that when you're sitting in a chair, our logo with the Allen Tate, bevel Hanks logo, our name and phone number and I think our email address is on there that we're giving to clients now as well. But we always want to give something to a client that they can share.

Speaker 2:

Our thought with the Cutco knife was that it was a great gift. We just sent sheaths around to everybody to cover the first year. We were hoping they wouldn't cut a finger off. Now we've sent sheaths that this knife can slide into, that we have you covered again. But the only person that sees that is the people in the house With the chairs. They're going to be at stadiums, they're going to be at a number of other places. That people can at least see our name and contact information and not everybody has foldable chairs that they carry around A little bag to go with it. And I've always felt that I've got to give something as a closing gift that has some type of reminder of who we are, in case we don't stay in touch like we should.

Speaker 1:

Yeah, interesting. So let's talk a little bit about the brand. Your group is called the Steve Dozier Group. Yep, so clearly, you know, I think, I think and I'm testing my memory I think I've seen a shirt. Maybe Steve Dozer Group.

Speaker 2:

You have some swag with your particular, we have vests that have our logo and everything on it. We do sports events for the schools, the various high schools around. We've got banners on the baseball fields and football fields and again, it's just a point of contact that people can see that we exist. Yeah, that's great.

Speaker 1:

That's great. So, steve, august 17th, august 1st some changes in our industry. Someone that has been in our business 23 years but in industry, for you know, 50 years, you've seen a lot of changes in a lot of different industries and just you know just your thoughts on the changes in our industry that you know we're kind of right in the middle of transition. Tell me about how you're viewing the change and you know what you might be doing differently as a result of it, or doing what you've been doing better, which could be the you know the solution as well.

Speaker 2:

Well, again, it's definitely been a change and much more discussion about it than we've ever had in the past, and I think this whole lawsuit came about because of agents that weren't doing the proper things anyway, came about because of agents that weren't doing the proper things anyway and it has caused and hurt a lot of folks.

Speaker 2:

And so we just picked up a $1.6 million listing that came in through an agent that I'd mentored.

Speaker 2:

He was not qualified to take that listing but I'm going to co-list it with him as a learning experience for him. But when we went to do the paperwork the listing paperwork I asked Kim to go with me because she seems to have a better handle on how this compensation discussion needs to go and I'm learning from her and I just think that man-woman thing it works well, but she has a better understanding of the process of it and is better able to communicate that to folks where it's an easy, easy discussion and we've not had anybody not wanting to pay broker compensation so far. But it comes about in how you explain it and she does it so much better than I do and it just puts people at ease when you explain it properly and I would probably hiccup a little bit going through that process but I'm going to get better at it. But again, I think there's a big benefit of having Kim go with me on listings. But again it's a change and I don't think we've seen the end of the changes coming either.

Speaker 1:

But again, it's a change and I don't think we've seen the end of the changes coming either.

Speaker 1:

Yeah, I think, as we knowency, in which real estate professionals were handling their business, and I believe that this is a unique opportunity for our industry, steve, to really raise its level of professionalism.

Speaker 1:

To really raise its level of professionalism, I think, as you heard me share with our company. I don't think there's anything wrong with being better at our craft. I don't think there's anything wrong with understanding our value proposition better tomorrow than we did yesterday. I don't think there's anything wrong with making sure I know the market better than I used to know the market. So I don't think anything bad can come from us as individuals, us as companies, you as a team, being better at our craft. I think that the consumer will be the winner. I do also believe that great agents, great teams, great groups and great companies will be the winner. But, to your point, it is change and it takes a little bit of repetition and conversation and things like that, so really confident that we all will prosper as a result of this, albeit it may take a little bit of time for you know all of the nuances to settle in.

Speaker 2:

And we even had somebody call the other day and go what is the DOJ? What does that mean? You know, Lord, if you don't know what the DOJ is and what has caused this, they've done no training and they will end up failing miserably or getting into bigger lawsuits.

Speaker 1:

Yeah, Steve, one of the things that I'm really passionate about is that everyone in our industry whether it's our listener today who's thinking about getting their license, who's thinking about getting their license, whether it's our 23-year veteran who's trying to reinvent themselves, whether it's that three-year person thinking about a team I think that success in our industry requires real estate professionals to be leaders. I don't think a leader is a title. I don't think a leader is a pay grade. I think a leader is kind of how we interact with individuals. So you know, you obviously are a leader within our company. You're a leader within your community. When you think of and I love sets of three of three what do you think the three key traits to a successful leader are? So that, as our listeners are taking in our interview today, what do they need to make sure that they are doing in order to be better leaders tomorrow than they were yesterday? Share with us your three key traits I like.

Speaker 2:

The biggest one is listening, and not only listening but understanding, communicating when it's the right time to communicate. But listening, understanding and communicating are probably the three biggest things that I can think of, and they're not always easy, yeah, not always easy.

Speaker 1:

Well, I think that in today's world, listening is beyond critical and, you know, one of the things that we encourage all of our professionals is, you know, be really curious. You know, ask a lot of great questions and ask a couple more questions than you think you have to ask in order to best understand motivation of the buyer and motivation of the seller. I'm going to shift gears. We started down this path a few minutes ago and I got sidetracked. We talked a lot about listings. We've talked a little bit about the change 65% of your business listings, 35% buyers Anything, from a strategy standpoint, that you and your group do to give that buyer an extra dose of confidence as they employ you to represent them in the purchase of a home from a buyer perspective.

Speaker 2:

Well, and I think Kim does such a fantastic job with that and I somewhat hate to say that because she could hear what I'm saying but again, having people to come in. She's showing clients today but she's having to come in and talk to Paula Wagner, our mortgage person, here in the office. We will also end up talking to them about insurance and all the other services that we have, end up talking to them about insurance and all the other services that we have. But these folks bought a house about a year and a half, two years ago. It's not the perfect house for them. They figured out, so they're looking something else.

Speaker 2:

So being there to consult with them without looking for the listing is one of the things that we did probably three weeks ago, just talking about where the house may be priced at and if you decide to sell, we'd love to help you. We'd love to help you find something else. So Kim has shown them several properties going out today after they talked to the mortgage person, but providing that extra level of service that some folks just want to take you out. They want to sell you a house. We have always worked I've done this since day. One is building lifetime clients, not looking for that one paycheck but building lifetime clients that when they sell their kids want to buy something. They're calling us because we've done the right things.

Speaker 1:

Customer for life. It's a mantra that works right when we are relational in our approach versus transactional our the way. Thanks so much for being with us. Some really really good insight into today's market. As you think about the last four months of 2024, do you have any projections on the things that are important to people like interest rates and inventory? What are some of your observations? You're out there each and every day in the field. Do you have any sense of what you think the next four months is going to bring from an industry?

Speaker 2:

perspective, Interest rates will be a huge thing. Right now I do a report every week for the eight counties that we serve and I send it to all the bigs and to Neil and Kim and Carolyn as well that days on market what the average price was sold over the last seven days. We have that additional market knowledge. I think if we drop a quarter, half a point in interest rates, the 110 days on average for Henderson County will probably drop into the 90s, maybe even the 80s. There is a huge need for housing and pent up buying needs and but again, the biggest thing right now is the interest rates.

Speaker 2:

We've talked a while about marry the house, date, the rate. The rate makes a huge difference. My wife and I have talked about going to a condo rather than a single-family home, but at 6, 7, 5, and 7% interest, financially it doesn't make sense. If the interest rates get back down to 6 or 5.5, it may make sense then, but giving them the market knowledge, continuing to go after snail mail, marketing, doing the marketing and stuff, some of the things that we're doing with AdWorks, those are the things that we will continue to do and hopefully strengthen on in the fourth quarter to not only finish out the year and be back in the present circle at 20 million plus, but to start building on the 2025 year as well.

Speaker 1:

Yeah, so I'm very optimistic about 2025. I agree with everything you've said. I think the other thing that your data points out is you just mentioned that average days on the market and your market's 110 days, and I think it's really critical to remind ourselves that the real estate market is hyper-local In markets. Here in Charlotte, we're still at 28 to 32 days in certain price points, certain markets.

Speaker 2:

We're definitely in that range, but as a whole 110.

Speaker 1:

And I think that the challenge is you got higher interest rates and again prices continue to appreciate and you are in such an amazing market on so many different fronts. So, steve, I think I sent you a note and if there are no recommendations, there's no penalty for this. You know any books that you recommend to any of our listeners. You know, I think I always like to provide a book recommendation or two as we wrap up our interview.

Speaker 2:

Gary, I have to be honest, I am not a huge book reader. I tend to spend more time looking at market data and that's a little sad at the same time. But on vacation I will pick out some books. But Good to Great is a great one, but just not an avid reader, and I know that you are, but it's just I just hadn't gotten into that.

Speaker 1:

And it's interesting. I always, I always debate asking the question. I think that you know it's funny. Somebody, a guy like Buffett, says it's the key. I interviewed Jerry James. He said I don't read, I don't read, I don't read. I listen to podcasts, I study data.

Speaker 1:

I think the beautiful thing about our business, steve, is that there's not a singular way, and one of the common themes of today that I think every one of our listeners needs to really put in the bank is know the market, know the data. You know you've said no less than six times, regardless of the questions we asked it's a data driven approach that you and your group uses with great success driven approach that you and your group uses with great success, and I think that you know when we think about that. You know to your point $20 million a year, every year. You know for a long time, the other thing you've given pardon me, you've given a tremendous amount of credit to Kim and Carolyn. You know and that's the mark of a great leader to make sure that you empower those folks around you. So we're going to ask the final question. We're right at about 45 minutes, which is exactly the sweet spot of reality.

Speaker 1:

Podcasts I have a minimum of three, but I think six things. I have six things written down here. One key from your perspective and you might have already said it and it's okay to repeat it For everyone listening today for the next four months, the final quarter 2024, what is the one key to their success?

Speaker 2:

I think, again, it goes back to listening. When you talk with folks working hard to understand what they're telling you and then be able to communicate it or show examples of what they're asking. But I think listening is such a critical part and I need to continue to do better at it. I try, but sometimes I forget. But I think listening and communicating are the two biggest things.

Speaker 1:

Well, the other thing you said listening, understanding, and then, early on in our conversation, you also said and know when to communicate what I think those are all magical. I'm reminded of as you were wrapping up your thoughts, stephen Covey seek first to understand, then be understood. Seek first to understand, then be understood. I think too often in our business we want them to understand us, but if we're a great listener, we seek to understand and we communicate effectively at the right time. That's how you build these. I wrote down here lifetime client, customer for life. Steve, thanks for joining us. Great to be with you, as always. Can't wait to see you. Have a great trip to Florida and I know our listeners will have enjoyed this episode of reality.

Speaker 2:

Thank you, Gary. Thank you for your time, sir.

Speaker 1:

Take care partner.

Speaker 2:

All right, see you.

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