Work Hard, Play Hard, and Give Back - A Real Estate Podcast

S3E4 - David Innocenzi: From Rome To Real Estate Leadership

• Coldwell Banker American Homes • Season 3 • Episode 4

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SPEAKER_00:

Welcome to the Work Hard, Play Hard, and Give Back a Real Estate podcast. We're here at the studio at American Homes in Franklin Square. Today's guest to the show is none other than Senior Vice President at Cobalt Banker American Homes, David Ainachense. David, welcome to the show. Thank you, Mike. Great to be here. Awesome, awesome. Before we get started, though, I just want to remind our audience if you like what you see here today, like, subscribe. We'd love to have you back for future episodes. And by the way, stay to the end for the drop the mic question. We always have a lot of fun with that. So you're gonna have fun with this one. I'm sure I will. All right, there we go. All right, so David, so your background, let's let's let's start really at the beginning and stuff. Um so you have a different path to real estate. One of the things we like to do is explore people's path into the real estate business, but yours came via Rome, Italy, right?

SPEAKER_04:

Yes, yes, that's correct. I came via Rome. That's where I'm from. I was born in Rome. My family still lives in a little small town just outside of Rome.

SPEAKER_00:

So you originally came to to New York, correct? It was your first real place in the States?

SPEAKER_04:

Yeah, so after I after I moved in, my my destination was New York. I was an exchange student when I was 15, and that was actually in uh in Florida for a year.

SPEAKER_00:

Ah, okay.

SPEAKER_04:

Um so that was my first experience of the United States.

SPEAKER_00:

Aaron Powell Now, if I have this correctly, when you first came to the States, you didn't even speak English uh effectively.

SPEAKER_04:

Yeah, no, I I didn't at all. Um, you know, I I only studied French in school, and I remember coming into the US and at TSA, the customs agents was asking me questions, and I opened my backpack and dropped all the paperwork that I had on his desk, and I said, There you go. There you go.

SPEAKER_00:

There you go. Now you came came with no adult supervision, correct? They put your backpack on, put you on the plane, and gave you a one-way ticket, I heard. Yeah. That speaks volumes right now.

SPEAKER_04:

Yeah, that's actually accurate. Yeah. I swam all my way back.

SPEAKER_00:

So what was it like coming to a different country, not even speaking the language or having that mentor or family member that you could kind of like hide under the wing? That must have been intimidating.

SPEAKER_04:

It was, it was, especially at the beginning when I, you know, I couldn't communicate as well. But I had the uh I had the blessing to end up in uh in a family that hosted me for the for the full year in uh in Florida, and they became my uh you know, my uh uh almost my real family. They were still in touch with them. So I have uh I get to have two moms. They both like to yell at me and be very loud. Um but I'm I that was a blessing. You know, I was uh I was welcomed right away and uh and coming here, you know, was a dream of mine. The uh, you know, everyone in in Italy uh watches you know shows about the United States and uh and stories, and uh and it was a dream of mine to uh to be here and see if I could make it. All right, there you go.

SPEAKER_00:

Now you stayed a year and then obviously went back home for a period of time. Finished school, is that what it was?

SPEAKER_04:

Yeah, exactly. So I finished I um I attended my senior year of high school here in Florida, then I went back to Italy, and there was another year of uh of high school left there, so I finished there, and then uh eventually because I had this connection with with the States, I kept coming back as many times as I could. Right. Uh and then it kind of turned into a business, and uh, and then finally I um one time I stayed.

SPEAKER_00:

Okay, so what made since your first introduction was Florida, what made you come to New York?

SPEAKER_04:

Uh so during uh in uh in my twenties I had a um uh a company with three friends of mine and uh you know we're still very uh very good friends and uh in in Milan and we were doing uh something called voice over IP, the Skype kind of uh technology. And uh we had clients in New York, and because I was the only one who wasn't married um of uh of the four, uh I was the one that was always traveling every few months, coming here and uh dealing with uh you know potential new clients and uh and the business side of it, all my my other three friends are all on the uh um coding and software engineer side. Right. Yeah, right. Yeah, yeah.

SPEAKER_00:

All right. So where where does you know coming here for business trips slash become um coming here to to live full time?

SPEAKER_04:

Yeah, yeah, yeah, yeah. I I know we're trying to get there. All right, so let's get there. So, well, the the the way to New York and the way to real estate actually went through my heart. Uh because on uh one of the trips uh I actually ended up uh meeting uh meeting a woman who I always meet the girls, always always the girl in the story, yes. It's always the girl. And uh she was living in New York, she was in real estate. Um and when I uh proposed a week after we met, um I had no plan, and it seemed like a good idea to get into real estate and work with her.

SPEAKER_00:

All right, there you go. So hence you wound up in and now when you say New York, you know, not everyone in the country uh understands the difference for like us New Yorkers. There's New York, like the city, and then there's the rest of New York, there's suburban New York, and then there's um rural New York as we as we have. So where in New York uh does does David Anachenzi start his real estate?

SPEAKER_04:

Yeah, yeah, it was actually in uh in Manhattan on the Upper West side. That was my first office.

SPEAKER_00:

Okay.

SPEAKER_04:

Um and uh it's a brand or is it in the independent? No, it was a brand. It was a brand. Uh now it's called Douglas Salaman. Okay. Um, and uh that's where I started, and I started basically as the uh um uh assistant of my at the time uh wife. She's my ex-wife now.

SPEAKER_01:

Okay.

SPEAKER_04:

Uh but um um yeah, I was basically trying to learn as much as I could from her, and uh, she was a great teacher, and uh I had a great manager at the time, and uh that's how I started. And uh I actually remember one episode which kind of um uh gave me a lot uh in terms of learning about real estate. I walked into the my manager's office one day and I said, Jeff, I have a fantastic idea. I'm going to market myself as the real estate agents for Italians. So everybody who comes from Italy is gonna work with me. And he looks at me and he says, That is the stupidest idea ever. You shouldn't have a few stupid ideas over the years, right? His point was that I should, you know, market myself to the broader audience possible and you know, start selling a co-op, right? Why limit yourself and stuff? Yeah, don't don't pigeonhole yourself. Yes. Yeah.

SPEAKER_00:

All right, well, that's interesting. So you so you got into sales for a while, right? Yeah. And then so what what was what was next for David?

SPEAKER_04:

Yeah, so when um uh d during the uh 2008, 2009, when uh you know the market has um I you know I wouldn't even say it took a turn. Yeah, I wouldn't say it it took a dive, it just nothing was moving in uh in the city. And uh, you know, a lot of real estate agents were uh kind of depressed. Um I felt like the big office wasn't uh a good fit anymore. Everybody was not as joyful. So uh at the time, one of the top producers in that office, um, who is still one of my best friends, Doug, um, decided to go out and venture on his own and start his own company. No relations to Element. Uh no, different different dog. No, he's a different dog. Yeah, he's not the dog of Douglas Solomon, no. But he decided to go on his own and started his own company, which was called Headings Property Group, which is that's his last name.

SPEAKER_01:

Okay.

SPEAKER_04:

And um it he asked me and my um ex-wife to go with him, and um, it took us about 15 seconds to say yes, he was a great guy. Um and uh from there I started getting more involved with him in the uh running of a brokerage. Okay, um, and then a few years later that brokerage was absorbed by another brokerage in the city, and I had the opportunity to become the man the manager for uh the um offices for that company.

SPEAKER_00:

All right, what uh do you want to share the company?

SPEAKER_04:

Yeah, core group marketing. It's a great place. Yeah.

SPEAKER_00:

All right. It's still around today, right? It's still around, yeah, yeah.

SPEAKER_04:

It's a great company.

SPEAKER_00:

So um how long did you stay in that role?

SPEAKER_04:

Uh I stayed there for about four years. Okay. Um, and then I went to um a company um uh just actually down the street on Fifth Avenue, uh Compass. Okay. And I was there for that still a startup at that time or um no, it was already it was already uh somewhat established. Yeah, yeah, they they had just started the expansion into um different states and uh and uh and so forth. So I got exposed to that uh different culture of real estate, different way of uh seeing real estate. Uh and it was great, and it was great, and um and I still have a lot of great friends there. Yeah, so what was the role you took on at Campus? Uh at Compass I was uh an agent coach. Okay. Um so I was you know meeting with agents every day and uh trying to coach them on uh help them to uh grow their business.

SPEAKER_00:

All right, interesting. So so you the the path it brings you to a lot of different uh aspects of of the business, right? It does, yeah. Yeah. And how how long were you at compass?

SPEAKER_04:

Uh so compass actually wasn't a long uh experience. It was uh maybe less of a year less of a year. Um and uh and from there I actually had the opportunities to join a uh an actual real estate technology company, uh meaning it wasn't a brokerage.

SPEAKER_05:

Right.

SPEAKER_04:

Um it uh it actually did technology for brokerages. Okay um and uh I worked with them for about a year or a year and a half.

SPEAKER_00:

Which company is this?

SPEAKER_04:

Uh it's called Purtual. You know, from there it ended up that my uh one of my main roles was to actually continue to meet with agents and train them and you know and and and you know educate them on this uh on this new system. And uh and there I realized that I actually missed my first calling, which was actually um you know, working with agents within a brokerage. Um, you know, full time.

SPEAKER_00:

So it's sort of like comes full circle.

SPEAKER_04:

So it did, yeah, it did come, it did come full circle at the at the time, and um um, you know, and it's uh and and at that point I actually had an opportunity to interview with Coldwood Banker in uh this was like 2019 now. And uh and I interviewed with um uh at the time the original VP for Coldwood Banker, Bill McCartney, who's become one of my mentors as well.

SPEAKER_01:

Right.

SPEAKER_04:

Um and uh he's now in Arizona, and every time I see a picture of him, I tell him that I love him, but I also hate him a little bit for how good he looks. Uh but the uh so I I met with him and uh from there a few months later I was managing the Great Neck office for Coldwell Banker Realty, and then less or right maybe a year later, I also managed the Manasset office for Coldwell Banker Realty, and then in 2021, in April, one uh sunny Monday, you guys came in and uh we merged.

SPEAKER_00:

We had the the the the the zoom uh zoom meeting, right? So yeah, that was a lot of fun. Yeah. So Cold Banker Realty and Century 21 American Homes merged on April 29th, and we met on April 28th on a Zoom meeting.

SPEAKER_04:

Yeah, and nobody told us what it was about. It was uh it was uh almost as stressful as this interview.

SPEAKER_00:

Oh come on, this is not this is easy. This is easy, yeah. This is kind of easy, yeah, yeah. Yeah, so um very interesting. It wasn't our uh um idea not to meet the management team early. It was uh COW Bankers' um idea since you were an employee of theirs. We had to kind of follow their rules in order to get to the finish line here. So so yeah, we had one-day notice. We did this merger um on the heels of uh COVID. So people were still, you know, we we we were back to work, but they did not want to have big meetings, so we did it all on Zoom. And uh here we were, we went from 12 to 24 offices overnight in the busiest real estate market. So, what was that experience like?

SPEAKER_04:

So I wasn't as involved with the merger, having found out basically a day before. Um, but then you know, we all got very involved really hands-on and rolled up our sleeves, and uh, and I have to say, it was um it was impressive to see how quickly everything was into production and you know, agents getting paid next day and um it you know, and and and systems all falling into place. You know, yes, we definitely had some kinks and you know, and bumps along the road, but I actually those are one that's one of the things that made me uh appreciate the company I work with, is because we actually worked through those kinks and bumps uh together as a team from the from the get-go. I actually remember that Zoom that we had, yeah, and uh, and I I really you know had no idea who Tom and Mike were. And um, so right after I called Bill McCartney, who was our you know regional vice president, and uh and I said, you know, who are these guys? What's going on here? And he said one thing. He said, they're good people, and uh and really that's all I needed to know.

SPEAKER_01:

Yeah.

SPEAKER_04:

Uh and and you know, and I have to say now going back, I proposed after a week of the first time, I you know, decided to move to the US very quickly. I was okay with him just telling him that you guys were good people. For someone who likes data, I think I'm a very impulsive guy. But it all seems to work out.

SPEAKER_00:

Well, I guess you gotta blend data with intuition, you know.

SPEAKER_04:

Yeah, just go with it.

SPEAKER_00:

Yeah, exactly. So when we merged, you were managing both uh Great Neck and Manhasset, by the way. Right?

SPEAKER_04:

Right, yeah, yeah, both offices. Right.

SPEAKER_00:

And then uh so if I could kind of like patch in, since now we're overlapping now in uh Cobalt Bank or American Homes, about a year into this merger, Bill bought a house, him and his wife bought a house out in Arizona, which was going to be a uh vacation home, which he loved so much that he decided we're gonna stay here. So uh I remember Tom Lai saying, okay, well, man, we got we got get somebody who's really good, you know, who who can really you know step that game up and stuff, you know. And he wasn't available, or she or she wasn't available. So it's very funny because uh you've heard me say this before, but uh I kind of had you in the back of my brain. And um uh but I asked Bill, and Bill goes, uh maybe you should consider this you know, sitting down with David, David Anachenzi. I'm like, okay, that's interesting you bring that up. So so since that point, um it kind of uh forced us to make a change. And then um so you've now been put into the um senior vice president role over at Cobalt Banker American Home. So overseeing what, 18 managers?

SPEAKER_04:

Yeah, yeah, yeah, yeah. So we have uh 18 managers, and um, you know, it's uh it's a fun job. My um my you know my daughter says that my title is you know manager of the managers. Um I guess it doesn't fit on my business card. I actually don't have business I actually don't have business cards, everything is digital now. But uh going back to the meeting where you know where we met and you know, and I was offered the the the position, that was a very interesting meeting because driving there from great first I get a text from Tom Gallagher, who for some reason when he texts me that he wants to see me, it just sends like a four-word text message. Can you come to East Meadow or whatever? Um and so that was already kind of stressful. And then on my way there, I got a flat tire. So I arrived at East Meadow. My I have a flat tire, I go upstairs, I open the door, and I see Tom, Mike, and Bill, and I look at them and I say, If you guys are going to fire me today, it's not a good day. I already got a flat tire, not a good day. And you know, thankfully it ended up being something else. But yeah, yeah, yeah. And opportunity. Opportunity was knocking. Yeah, yeah, yeah, yeah. Yeah, no. It was a good meeting.

SPEAKER_00:

Good, good. Well, well, here we are, and now what is it three three years later?

SPEAKER_04:

Yeah, yeah, it's just about three years, yeah.

SPEAKER_00:

For our audience, you know, um, so you have some unique experience and vantage points. I always like to say vantage points in real estate, because for an average agent, they might know how their office works, they have an idea how they want to build their business or how they should be building their business. And yet um I I I think it's really helpful to to see different vantage points in this industry. So, you know, you have you've had some of the most unique vantage points and stuff. So what's what's an aha moment that you know that you've had in the past about the industry that might be useful information for uh an audience member.

SPEAKER_04:

One of the most interesting things that I've seen in our um in our industry is the path to success has many different roads. Right? And depending on where you are geographically, depending on uh, you know, the market and and and so forth, and depending on your personality. So there's really no one type of agent that is successful in real estate. Right, definitely not a cookie guy. There is now, there is many different personalities and there's many different traits that can make an a real estate agent successful. The common trend is consistency, never give up, and have a plan. And that comes across, you know, where a lot of the you know top agents and you know and and and producing agents that we have, where they all get to success different ways, you know, whether it's you know, Gal Carillo and her team or Brian Carp or Larry Thieler, and you know, and by the way, if you haven't seen those episodes, make sure you get those episodes on our podcast. Yeah, you know, and um and but it's it's interesting to hear their stories and uh and see how they got to success in very different ways, right? So there it's definitely not a cookie-cutter in industry, which is very uh interesting. And my role as uh I see my role somewhat uh of a uh connector, right? So where I get absorbed something from somebody and then talk about it with someone else and say, hey, did you think about doing that? You know, Brian is doing it or Gail is doing it or Larry's doing it. Um and the great the other great thing is that they're all very happy and willing to share what they do, uh, which is not common in all in other companies. But um so being this role of connector, I am exposed to a lot of different things. And a path to success is one of the things that you know surprised surprised me the most when I first started.

SPEAKER_00:

Yeah. But w would you necessarily agree with the the thought process that is even though there's different paths paths and different personalities, uh there are some commonality that you see in successful, you know, agents and teams?

SPEAKER_04:

So first of all is believe that you're going to do it, right? So envision success as something you are going to achieve, right? Uh and then just focus on the process. So m map out the steps and uh and you know, take those steps um consistently. Um, you know, don't uh don't take a day off from the process and keep pushing and uh eventually you'll make it. What I what I love about real estate is that you know, we like to be on Facebook and Instagram and so forth, but we're you know, most of us are not, especially myself, we're not rocket scientists, you know. I think I've actually only interviewed a rocket scientist uh who wanted to get into real estate after he retired. But um well, but did did he do it? No. Uh it did, it did, it did, yes, yes, successful? Yes, I don't know. I think he got an allergy attack. But the you know, the idea is that if you are consistent, if you're true to yourself and you have a plan and you execute on that plan, you have high tolerance for, you know, um, I don't want to call it rejection, but you know, would for the fact that you know not everything is gonna go your way right away, right? Um, you'll make it. Like, you know, you really have the opportunity to uh build a legacy, a business in this industry, which other industries don't allow.

SPEAKER_00:

I always call it right, uh if you've heard me say this, uh business worth owning. And should be working or team leader should be working on building a business worth owning. Yeah. Because it's easy to be in business. It's not easy to have a business worth owning. Yeah. A successful business. That's how I define successful business.

SPEAKER_04:

Yeah, Deb Asher was always here on my shoulder whispering words um in my ear, you know, she she calls, you know, the working on your business, right? Um, you know, work on your business as well as in your business, you know, when yeah, especially when you get busy. And and some of those agents that have been very successful and continue to be, it's because they have the ability to time manage and and you know, and focus on working on their business even when they're very busy working in their business.

SPEAKER_00:

Yes, very much so I like that. Never stop learning, basically. Never stop learning. So what do you consider the biggest challenge in supporting a leadership team? You know, especially a team that's spread out geographically. So when what is you know, so what does that challenge look like?

SPEAKER_04:

So it's the leadership team that we have, you know, actually makes the process quite easy. You know, they um you know, we're we're very lucky to have a great leadership team and uh, you know, and everybody cares, everybody's on board. I don't think it's luck. And uh by the way, it's yeah, no, but you know, you tend to attract, I guess, uh, you know, people that that you know see themselves into the project and uh and and and that but yeah, yeah, yeah, you're right. It's not luck. Um but it it is something actually that comes from from the top down, right? So after I did get to meet you and Tom, um I I you know I have to say I see why some of the members of the leadership team have been here for such a long time, right? And it's uh and it's because you've been able to um share your vision of what the company was gonna grow into with them consistently and make them part of it and uh uh make them feel heard uh and make the agents feel the same way. So the um, you know, the retention uh that that this company has is quite incredible. And I think in part it's because of that, this energy that comes down from you know, Tom and Mike in um in you know, uh every day. You know, you're probably one of the most hands-on people, you know, business owners that I've met um so far in the industry.

SPEAKER_00:

Well, I I would say real estate even as a business, right? Not as just as an agent, is it's not something you can put on autopilot pilot.

SPEAKER_04:

No, no, you always do something, uh and you always do something different, which is great, right? Yeah. So yeah, I remember the call. Um we had a manager in one of our offices, and uh he calls me one day and he says that the toilet was broken. And uh and he said, Who who do we call? Do we have a handyman? I'm like, what's broken? He said, The handle. And literally I was in the area, so I'll be there in 20 minutes, and I fixed it. And it, you know, and by the way, I'm not a handy person at all, asked my wife.

SPEAKER_00:

Um YouTube video.

SPEAKER_04:

Yeah, YouTube, yeah, you know, YouTube everything. Yeah. Um and uh but you know, we're really hands-on, and there's really this sense of belonging and uh and community, which is uh again, it starts from the top, but it's uh perceived and felt um uh throughout uh throughout the company. Yeah.

SPEAKER_00:

So you want to talk a little bit about how we've been leaning into AI to find the the synergies and efficiencies to help our agents be more productive?

SPEAKER_04:

Yeah, yeah. The um, you know, the uh AI has definitely been, you know, like we were recently in um in Las Vegas for the Cold War Banker um convention, Jam Blue, and AI was about probably 85% of all the classes that were there. Um AI is it's you know, it's such a big um, you know, range of products, right? Right. So one of the things that you know Chris Mantiria was our CTO, one of the things he says is like, you know, it drives him crazy when somebody says, Oh, uh, I want to start using AI, we should use AI. And he's like, Well, what for? Right? Because it's not, you know, it's not a solution to everything. It's an assistant, it's something that helps you. Ask a deeper question. Yes, exactly. So the the results are only going to be as good as the questions are, right? Yeah. So some of the things that we started now is Chris is actually um putting out weekly um short uh webinars on different aspects of AI and how to you know work with prompts, how to build gems. We um as a company, we um uh you know we use um Gemini um because it's part of uh of the Google Workspace platform that we provide to Google agents. Yeah, yeah, yeah. So so yeah, so our all of our agents have access to the you know Gemini Pro accounts and you know, as well as all the Google Workspace. So we you know we provide a lot of training, not so much of what AI is because it's gonna be different tomorrow, yeah, but how to leverage it in the sense of how do you build a prompt and how do you, you know, how do you communicate with it, what's the concept of it, right? Practical application. Practical application, how do you do a CMA or or things like that, and then coming out with different solutions. So we're you know, we're embracing it um as a company as much as we can. Uh we are, you know, we're lucky enough that uh all of our agents have access to a pro account for for for Gemini so they can do um you know more intense uh work than uh you know than the free accounts allow you to do. And you know, you can do a full video, you know, generate videos and put stitch them all together. And uh I get very excited about this stuff. So but you know, the I the idea is that it's something that you know we the real estate agents should adopt. Um to be clear, I I actually don't think, and this this was said at the conference too, and I fully agree with it. I I don't expect AI to replace the real estate agents. No, but the real estate agents that adopt AI in their everyday business and their business planning are most likely going to replace a lot of the agents that don't. Yeah. Um it's just going out and produce them. Yeah, yeah, which goes back to the question you asked before, which is you know, what are some of the challenges that the leadership team has? And, you know, one of the challenges is understanding a different uh generation of agents that have different tools than what we had, yeah, right, when we started in real estate. Um I mean, I remember walking um walking into the um you know the the conference room at Douglas Salaman to put together a board package, and there's a typewriter, right? And and when's a typewriter? Exactly. That's what I asked. And um, you know, and and it was used to fill out board packages, board applications. Um so uh from there, obviously the technology has evolved a lot.

SPEAKER_01:

Yes.

SPEAKER_04:

And now I I'm not putting down Douglas Salman, I'm sure that that typewriter is gone by now.

SPEAKER_01:

Yes, that's it.

SPEAKER_04:

But at the time it was there, yes. So, you know, and this was like 2007, right?

SPEAKER_01:

Right.

SPEAKER_04:

So we already had Adobe, we already had, you know, so the uh the technology has changed, and for us to embrace the changes that the industry uh is is bringing upon us um is is is mandatory. Like we have to do, we owe it to our agents to be the most forking customs and our clients and customers. Yeah, yeah. But you know, our agents are also our clients uh as well, right? From our level. From our level.

SPEAKER_00:

Our customers and clients are our customers and clients.

SPEAKER_04:

Yeah, if we can't provide them, if we can't put them in the best possible position to compete and be, you know, above uh um most everyone else in the industry. Best in class, then we're not doing our job right, right? So we take that very seriously. And uh, you know, and I and I see it in Tom, and I see it in you, and uh, you know, and and as and as some of the people that I've encountered through the um um through through my real estate journey, like my friend Dag that I spoke before, and Bill, uh, and you know, I consider you guys um my mentors as well, because of this vision that you have, you know, this forward thinking uh approach. And it's like what can we how can we do it better, right? Right, right. Which is um uh which is something that people are asking AI now, right? It's like you ask for something and you say, How do you do it better? No, make it even better, make it even better, make it even better, right? Uh my friend Justin always says that. Uh, but the um uh the the idea is to try to always improve incrementally to to provide better uh better services and and shift the company mission with the changing times.

SPEAKER_00:

So now you've heard obviously um it was big news two weeks ago. Uh Compass and Anywhere brands, you know. Um Compass is the the largest independent brokerage in the United States. Uh Anywhere Brands is the parent company for Cowwell Century 21 Corporate and uh Sotherby's ERA and Garden So the largest franchise uh real estate in the in the world, essentially. So the two are getting together in a merger, right? And that's called some ripples and stuff. So how do you see that impacting the marketplace?

SPEAKER_04:

So I actually think it's very interesting, right? And it just it just describes where the industry is going as um as a whole, and and it's more than just economic factors, I think.

SPEAKER_01:

Yeah.

SPEAKER_04:

So and you know, I and I think um, you know, a company like Compass, um, who has um built a technology stack first and foremost, and then uh provide it to the to its agents, um, you know, I think it's kind of a natural move to want to become the biggest service provider for that technology. So I think it's a great move for them. You know, I've heard all kinds of stuff in uh in the trenches of you know, people asking me like, so are you all going to become Compass now? Or you know, uh is Compass gonna be the biggest MLS in the country? And and reality is we we don't really. Know what's going to shake out except at the highest level. Except for us uh being a franchise, you know, I I think that I'm actually very happy to be part of it. And I much prefer being part of this big change than being excluded from this big change.

SPEAKER_00:

Right, sitting on the sidelines and watching what happens the other big guys get together and work collaboratively, right?

SPEAKER_04:

Yeah, the way I see it, this is an opportunity to improve the systems and tools and um you know and and scope of what we get from our national brand, right? And at the same time, as one of the biggest franchises for you know anywhere, you know, not just called a banker, yeah, um, we're one of their biggest clients. So as a client, I you know, and one of the things that I learned about America as an as an immigrant is that the client is always right, right? Is that a thing? Yes, yes, right. So by being one of the biggest clients, you know, I would expect that we would actually be able to um take advantage of, you know, potentially better tools and better systems and uh and a more powerful structure. So it's you know, I think there's an opportunity for the industry to to get better, you know. I think there's a I I I think the um the the the biggest um um stressful point is for the people who have been just uh chugging along and you know mailing it in in different positions, you know, whether as agents, as brokers, as you know, you know, leadership positions, and now there's literally earthquakes uh going on under their feet, and you know, how do you adjust to that, right? Um it is a very interesting time to be in real life.

SPEAKER_00:

Yeah, yeah. So uh interestingly enough, you and I got this question this past week, right, about you know, uh the merger and uh saying, you know, well we're gonna become compass and what have you. So I I think it it's important that we're clear. I think you're on the same page with this, is that obviously we have a franchise agreement with the COWA Banker, and that COW Banker is such a tremendous organization in forty-three different countries around the world, tremendous market share, a hundred thousand plus agents, that is that it it stands alone, and uh I think Compass is not going into anywhere so that every brand's gonna rebrand as Compass is they're gonna go in and leverage Anywhere brands as a franchiser to franchise Compass. It's the other way around, and potentially the Anywhere brands can take the best in in technology out of what Compass is built.

SPEAKER_04:

So Yeah, no, absolutely. I think I think you're just you know, you're you're right on all of that. Um and uh and Cold of a Bank is a very powerful brand, uh and uh, you know, and it's an asset to uh to compass, right?

SPEAKER_00:

That's why they want to buy it. I want to come back to the other thing, which really kind of tapped me, kind of knocked on that door. And the other thing was that I I've been asked is you know, so uh are we now forced to sell our company to to compass? And uh it's very clear that we're an independently owned company that happens to franchise with a Cobalt banker. So there's no first rod refusal or option to buy our company. So the fact that they're merging on a franchise level doesn't affect us on a local level. So it's kind of funny. Somebody just asked me, What's gonna happen with my closing next week? How am I gonna get paid? The same way you always got paid, typically in like 12 hours or less, right? But we handle our own payroll. So it I I I I see this thing on the highest levels is it doesn't affect us from our day-to-day operations. But what it can really impact would be I'm kind of curious how you feel about this. Uh exclusives and stuff, you know, against the gnar push of clear cooperation. Well, Compass is one company, now they just merge with the behemoth that's anywhere. Um all of a sudden, uh, you know, do we need every MLS in the country? Does does the anywhere compass merger create a given the ability to create their own internal multiple listing service?

SPEAKER_04:

Yeah, and you know, it's uh it it it it is going to be very interesting to see where the industry goes, right? Because now we have a group of 350,000 agents. Yeah. Um and it's you know, it's it's basically one it probably is one of the largest MLSs in uh in the country, right? If you put them by far. Yeah.

SPEAKER_00:

There's no one even close.

SPEAKER_04:

So, you know, that's um that's quite that's quite the force. And um, you know, and and I and I Well they got offices in all 50 states then.

SPEAKER_00:

Yeah. If when you look at it that way, there's they're in literally all 50 states and multiple countries as well.

SPEAKER_04:

So I I think maybe agents may have an opportunity to be um better heard from you know, maybe from organizations that gave agents for granted in uh in the past, right? I think everybody's gonna have to listen and watch a little bit more carefully. Yeah. I I think the uh the idea that we all become compassed is is just uh it's just not a viable financial uh idea, right? And it wouldn't work because we are much more valuable as Coldwell Bank or American homes to them than we would be as compassed. Correct. Um so I I I don't think it's you know, I I I I think the rumors and you know, and and and I know that nobody in our industry um spreads rumors, they mostly just forward them. Um but some and they gotta stop somewhere. Uh well, you know, they they're all forwarded. Um but but you know, the idea anyone who stops for a second, right, yeah, and realizes that you know it's not financially viable, like it makes no sense from a financial point of view, right?

SPEAKER_00:

Each each one of those brands has has massive, massive Wall Street value. So you don't just throw a brand in the garbage. You you you consolidate costs.

SPEAKER_04:

Yeah, and you know, and the relocation services and all of that. So yeah, so that I you know the the consolidation of costs and the uh and the um uh maximizing the exposure of all the different brands is really where the key is. And providing these tools, you know, that you know that's a winning play for companies as well. Yeah, yeah. And and ultimately, if the tools that we get are better than the tools that we get from our MLS, then maybe your question is you know, is right to be asked. It's like why do we have an MLS, right? And and again, we don't know where it's gonna go. And you know, and I'm sure there's a lot of people that work very hard on our MLS. Yes, exactly. But everybody should be watching carefully what happens. Right.

SPEAKER_00:

Yeah. Obviously, this business can be 24-7. It's it's hard to find a beginning and an end. So, you know, what does play hard mean for David Aynagzi? You know, how do you unplug from the demands of 24-7 real estate?

SPEAKER_04:

Um, so that's a great question. And uh probably not the answer you you're expecting. You haven't figured that out yet. Uh no, no, I I I I do. It's just not, you know, it's uh, you know, I should say, oh, I spend a lot of time with my kids and uh uh instead I'm going through a full midlife crisis. Okay. And uh so I decided that I have this incredible passion for dogs and specifically training dogs. Last May, um, I see on the Facebook page for the sheltering poor Jeff, Save a Pet. They do a lot of great things. Uh, I see the picture of these dogs at the head, and she's a canic orso, which is an Italian mastiff, so I instinctively felt bonded, connection with her. Um, she's an uh you know, a canic horso is an ancient um uh war dogs that the Roman soldiers actually used to use and bring to war. So you had the Roman connection with them. They had the Roman connection. They're they're afraid of nothing, they're great, you know, companions and and so forth. And um, and um uh it's actually interesting when you read about it. But at the um, so the point is this time I actually my wife was a little bit more stern about no, we're not doing this. Um, but I had started my again, my midlife crisis, which is was which was dog training. So I watch a lot of YouTube videos with dog trainings, and then I try to do it with my dogs, and it actually works.

SPEAKER_01:

Okay.

SPEAKER_04:

So um I convinced my wife, or I maybe I should say I conned my wife into uh into going over there. She's gonna see this. She's she's gonna see, she knows. Um, into going there. And this time I called my daughter and I said, Hey, why don't you come with us? We're gonna go look at puppies. Because this time I needed support because it was a very difficult thing to pull off.

SPEAKER_01:

Right.

SPEAKER_04:

Long story short, we ended up with this 75-pound, uh, you know, beautiful blue blue brindle kind of corso. I've been officially put of notice that I'm one dog away from divorce. Right, there you go. Um but but it you know it's it's interesting actually. The dog training is probably what what takes my mind off of uh of you know the the pressures of real estate the pressures of real estate and what we go through and you know the legal things and all that stuff.

SPEAKER_00:

So let's let's do a shout out. You have apparently you have or a burgeoning YouTube star bit star in the house. So you want to tell us about the new channel staring your four-legged friends?

SPEAKER_04:

Yeah, yeah, yeah. So my um so I watch a lot of YouTube dog trainers and things, and you know, and they have thousands and thousands of followers, and you know, and obviously when you watch YouTube videos, the first thing you think is, I can do that.

SPEAKER_01:

Right.

SPEAKER_04:

Uh we all not everyone thinks that though. Okay. So well, maybe I'm competitive in that way. So I found this to be like the easiest entry way for me, dog training. All right. So you want to give a shout out to the um YouTube channel? Yeah, yeah, yeah. So Rhea, uh, which is my Canicorso, uh R-H-E-A, Rhea. Um she has a YouTube channel, it's called uh Rhea the Canicorso, and we are approaching 500 subscribers. And if we reach 500 subscribers by the time this airs, Mike is going to give a million dollars to one lucky viewer. Puppy. Or puppy. Yeah, there we go. Uh but yeah, so Rhea the Canicorso. So I started this channel and I started with shorts. Yeah, I started about a month ago, and then I it it goes uh I also started a TikTok account for it to go together. The one promotes the other, and uh and I have about you know almost um 500 subscribers on YouTube and uh almost you know just I think just over 400 on TikTok.

SPEAKER_01:

Yeah.

SPEAKER_04:

And and it's something that had always uh scared me. And now I'm a little bit more comfortable with.

SPEAKER_00:

Now apparently though, Ray is getting a lot of views though. What's your biggest number of views for uh a video so far on this brand new uh adventure?

SPEAKER_04:

So I think I so I think this is how the YouTube addiction works. Because I did a couple of videos and I and I got you know a few hundred views. Um and then I did one short, which is you know definitely not the one that I thought was the best one.

SPEAKER_01:

Yeah.

SPEAKER_04:

And all of a sudden within two days it had like 5,000 views, and within like three days it had 10,000 views, and then it got to like about 15,000 views. Um and then I tried an experiment, so I actually promoted it for two days. I guess it was like$25,000,$30, and it got to 40,000 views. And now, and you know, and and and I know that maybe it's not as big as a number of uh, you know, the big YouTube stars, but it's impressive to see that something like that gets 40,000 views. For a dog. Yeah, yeah, yeah with a brand with a brand new. It's not too bad, not too bad for a dog. So and and that actually brought a lot of subscribers, you know, which and and and now I'm a lot more comfortable talking to our agents about doing something like that, right? Not necessarily about dogs, but about you know, about real estate between you know putting together and I use a lot of um AI to come up with concepts and you know, thumbnails, and you study some stuff. So it actually it's actually very interesting, and it applies to somewhat wait, let me say this with a straight face to my wife. It applies to my job, so I must continue to do it.

unknown:

Okay.

SPEAKER_00:

Let me give it a straight face back. All right. So it's it's good that you have uh an outlet, you know, you know, and um actually this kind of fits into the next uh conversation real quickly, which is uh giving back. So certainly saving dogs and and rescue, you know, and giving them a home, I think could be can considered community service, by the way. So so uh I know I got a pair of uh dogs at home too, so we do our our fair share that way as well. So uh just to pivot real quickly, um what favorite like uh you know giving back is something really you know big part of it. Do you guys you know you and your wife have a favorite charity or something you want to give a shout out to as well?

SPEAKER_04:

Yeah, yeah. So so so first uh you know, one of the uh one one of the things that uh you know being part of Cold Way Banker exposes you is uh St. Jude's. So that's definitely one of the things that uh one of the charities that I've actually been exposed by meeting some of the parents that were benefiting from it, and you know, and you actually see how not only how real it is, but also how essential it is. Yeah, the impact it actually is. Impact, yeah. And how you know they they say now 80% of kids will survive, which is a great percentage, but it's still not enough, right?

SPEAKER_01:

Right, right.

SPEAKER_04:

So that that work that Coldwood Banker is doing is um is very important. On a local level, you know, we um you know, after we merged, uh we I've I've come to know the um Heart of American Homes, which is our foundation, yeah, right? Yeah and I've seen that at work. And I've I've actually seen it um, you know, I I I I've been involved with a couple of things where I've seen it at work, and it's impressive how a small group of people can make a huge difference to you know to the communities where they where they live, right? And and to to complete strangers, right? So we're part of the same community, but they're also strangers. And um, and and that's impressive, you know. And I and and I'm not the authority to speak about it other than being completely in awe of the work that the board and Tom Gallagher and you know and and everybody does on for the foundation, you know. It's uh it's really incredible. And you know, and I guess the one thing I will say is that you know, when originally, you know, the the tagline was, you know, there is zero overhead. And I always thought, well, there's gotta be a little overhead. And then now I can tell you, you know, three and a half years into, you know, there's really no overhead. Everybody does things from their heart, and uh, and it's impressive. And then if you give me one second to to to really fix my relationship with my wife, um I this is my charity work, right? Yeah, yeah, that's Mike's charity work. You know, one one of the people that does a lot of good is my wife. You know, she's um she's a physician and she works for a uh federally funded clinic where she sees a lot of uh patients that have um either no insurance or you know very little insurance and and um you know she she here on Long Island and and you know and and she does a lot of good. And uh, you know, she's very well loved by her patients and her co-workers. Um but it's not an easy place to be, you know, to be a doctor. It's you know, she's um so so what she does is inspiring and she works really hard and she's very stressed about it, and you know, she comes home and um but but it's um but she truly is an inspiration for what she for what she does. And we um the clinic does some um events, like for example, this past weekend we did a safe trick or treat uh event where the clinic was all decorated uh for Halloween, and we went there with the kids. All of the kids uh volunteered for it. Okay, good. Uh they were in charge of the scary hallway, and they did a great job. Everybody all most kids came out of it crying, so they so they did an excellent job. Yeah, uh, it was scary for sure. And then uh, you know, all the the younger kids would walk through the hallways and we would just give them candy and we were dressed in costumes. Uh by the way, I was forced into a costume. If you see any pictures, it was not approved by me. Okay. Um, but um, yeah, but it, you know, we did it.

SPEAKER_00:

What costume did she get you to wear?

SPEAKER_04:

Um so we were both uh minions from The Speakable Me. Yeah. And I know you have a lot to say about it.

SPEAKER_00:

But just you know we're gonna get a copy of that picture and then let that do its talking for us.

SPEAKER_04:

But you know, it was great, it was great to do when you see these kids, you know, like be you know happy and you know, and uh say in the same um in in the same way we do like um um holiday meal uh right right around Thanksgiving where you know we serve food at the clinic. Yeah. And uh for yeah, for three years now, I uh am in charge of the hot chocolate station. Okay. Um so I you know that's my station, nobody touches it. Uh and it's it's mine, and I'm very proud of it. You know, it's uh and it all stems from from what she does, yeah, you know, and the commitment that she puts into that. So sometimes our troubles, our stresses of real estate are put into perspective when very much so. Yeah. Perfect.

SPEAKER_02:

It's time for the drop the mic question.

SPEAKER_00:

So before I go into the drop the mic question, I want to remind our audience, please, if you love what you're you're hearing here and seeing, just like, subscribe, join us for some future episodes. We'd love to have you here. Yeah, got it. We want an honest answer here. So uh what's the better Italian export? Ferrari or pasta?

SPEAKER_04:

All right. So I'm on the committee that writes some of these questions sometimes. I didn't see any of these questions for a second. That's right. Let me point these out. That's right. No one gets to drop the mic questions ahead of time.

SPEAKER_00:

There you go.

SPEAKER_04:

Or any other questions. I didn't see any of it. Um you know, what is the better export? Well, I think uh so I think pasta is a much more popular and accessible product that expresses the greatness of Italy. Uh Ferrari, you know, is an icon, you know. So it's uh but you know, if you ask me, my the best export I have is my own olive oil that my family makes, you know, my brother-in-law makes in Italy. Um, so that to me is the top. Uh, but you know, I would say, you know, pasta is deaf brings Italy to anyone who wants to try it. You know, Ferrari is a little bit more exclusive.

SPEAKER_01:

Yeah. Yeah.

SPEAKER_04:

Uh but it's, you know, uh it's uh it's it's definitely an icon. It's a status.

SPEAKER_00:

All right. Well, thank you for sharing some culture with us today. So uh both real estate culture and uh you know your Italian heritage culture. So we're happy to, you know, highlight it and showcase it here. So David, I want to say thank you, thank you for being an integral part of Cobalt Bank or American Homes and uh for being a great interview on our show today.

SPEAKER_04:

Oh, thank you, Mike. Thank you so much for having me. And uh and I really urge everybody to if you don't want want to watch this episode, or if you don't understand my accent, please go and check out all the other episodes. They're really great. Uh great, thank you.