🎙 Episode 14: What It Takes To Be A Real Estate Agent

So, you've been thinking about becoming a Real Estate Agent. After all, it looks like a pretty easy job. You just dress up and unlock houses all day, right?

WRONG.

Today, the gals at NOBODY LISTENS TO LIZ are getting into the weeds and delivering some HARD TRUTHS about being an agent. This nearly hour-long episode provides a behind-the-scenes reality check so buckle up, buttercup! 

As Liz famously says, "Real Estate is a LIFESTYLE."

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Transcript

SPEAKER_02 0:14

Welcome to another episode of Nobody Listens to Liz. I'm Leah Frederick. I'm Liz Eric Dykes, and I'm Sierra Peluso. And today we are talking about what it really takes to be a real estate agent. So we're kind of targeting those folks that are actually already in or commiserating with folks who are already agents or perhaps new agents or even aspiring.

SPEAKER_00 0:42

Thinking of a career change?

SPEAKER_02 0:43

Yeah, a good career change.

SPEAKER_00 0:45

Yeah. It's a second career for a lot of people.

SPEAKER_02 0:48

Yeah. I think it's like my eighth career change.

SPEAKER_00 0:52

At minimum. Some of us we just but they all led you here. And what better segue would you have had with all of your talents meshed into one pot? This is true.

SPEAKER_02 1:02

Yeah, this is true. I do believe that everything you do prior at any other job actually does lead. You take skills from that and just build into it. And this has been a good fit, definitely. So, and I was telling him right before we started recording that I read that the average kind of profile, I guess the average real estate agent is female, um, I believe age 55. I'm like, check, check, check, you know, second career, third or fifth career for some of us. Yeah. But yeah, so today we're gonna talk about what it really takes, kind of getting again a little bit more into the weeds about it. Um, you know, no fluff, uh, no HGTV fantasy. I do believe there's been a real disservice by the media as far as these different television programs.

SPEAKER_01 1:48

Yeah. Well, they only they just paint a pretty picture of um I mean it's not even what we do, but they try to make it pretty. It is pretty.

SPEAKER_00 2:00

Well, it's like it's reality TV, right? Like that's what it is. It's entertainment, it's not what really happens. Yeah, and as much as we try to shield our clients from what really happens in their transaction, we do try to paint a pretty picture. That's not really what's going on.

SPEAKER_01 2:15

Yeah, I think that's the other thing is like on social media, we're not gonna like blurt out what's actually happening in a transaction because what a dumpster fire it can be occasionally. Yeah, well, and sometimes like contractually, we can't really say what's really going on. So we just have to like make it look good, and then after the fact, we don't want to upset our clients on what really happened. So we're just like there is a lot of that.

SPEAKER_02 2:41

I think you know managing expectations, managing emotions of your clients. I mean, there's no doubt that my background working in mental health has come. You were a therapist before? No, I actually was. Um I worked for a mental health agency and um was uh I worked in one of the houses, the Sammy houses, which was substance abuse mentally ill clients, and was kind of like the what house mom or something like that. That's a horrible phrase for it, but I can't remember the name of the title right now. So uh, but yeah, you know, HGTV obviously shows a lot of times, you know, the big houses. I always like when they tell stories about the buyers and like, yeah, you know.

SPEAKER_00 3:28

Oh, that's my favorite of what they do, yeah. Yes. My my wife is a part-time butterfly watcher, yeah. And the husband, like, I don't know, maybe he paints bricks on the side.

SPEAKER_02 3:41

I mean, yeah, yeah. And their income or their income is like six hundred thousand dollars.

SPEAKER_01 3:47

Yeah, their budget is six hundred thousand dollars and stuff like that, and you're like just just tell me you're um trust fund baby. Yes, exactly.

SPEAKER_02 3:56

Yeah, yeah, right. So, but yeah, I mean they show the the fun aspects as far as you know dramatic closing they build up. Um, you know, it seems a narrative that doesn't really necessarily exist, although there are dramatic closings. I mean, I just I just closed on one that's been under contract for what five and a half months, and I I mean it really was a miracle. I felt like all of a sudden I'm like, we're clear to close. I'm like, yeah, we are I mean, yeah, as the most addendums I've ever written or even you know signed or I've had closings that had to just be separated, two different closings, plenty of because yeah, sometimes no one wanted to be together at the closing table, emotions run so high, uh-huh.

SPEAKER_00 4:44

They do, yeah, they do, and it's so hard not to get involved, and like I'm very empathetic as an agent. That's really hard too, because like whatever they're feeling, I feel it too, and I'm like, man, this is terrible. Yeah, yeah, it's a roller coaster.

SPEAKER_02 4:58

Well, yeah, and some, you know, we have situations where the house impacts their lives in profound ways. Um, on the one, I actually ended up writing to the lenders, like, you know, I I don't know what your priorities are, but this has taken a long time, and my people cannot finalize their divorce until deal with it, until this transaction closes. And that's profound, you know, they can't get on with their lives. So um, so yeah, quick closings. Um, what is the quickest closing you guys have ever had? The quickest? Yeah. Seven days.

SPEAKER_01 5:35

Yeah. That's mine's probably about a week. Yeah. It was a cash, and all I needed was a title search.

SPEAKER_00 5:40

Yeah, and that's that's the only reason they've ever gone that fast. Yes with cash. You won't be doing that if you're financially. No, because you need an appraisal and you need inspections, and you should have those things. Yeah, you might need a survey, things like that. So the HGTV, let's let's only go see three houses. You're gonna pick one and you'll be living in the next week having Christmas is probably that would be ideal for us.

SPEAKER_02 6:03

Yeah, yeah. Here we are, what a week before Christmas. Like, yeah, sure. We can get you in before the end of the year. 15 more deals before the end of the year. That was the truth. Yeah, I wish. But okay, so the real life, yeah. Uh, hours of follow-up with prospects and sellers.

SPEAKER_01 6:21

Oh, yeah, that's a good one. Yeah, is like people aren't just walking in our office like like a car salesman walking in. That's that's not that's not how this works.

SPEAKER_00 6:35

We have a little bit of that because we're in rural America, so it's like smaller town. It's sometimes it's people we know or people, you know, yeah just passing by. We get a little bit of that, but we're like, but not enough to like mainstream.

SPEAKER_01 6:48

Not enough to maintain a whole business on, yeah.

SPEAKER_00 6:51

You are out there prospecting and following up. That's odd because if you're not in a small office, you're not gonna get that at all, you know. Yeah, yeah. I that brings up a good point, is people don't understand how much time and effort and work it is to have a real successful full-time business as a realtor. As any, you know, any small business, but particularly real estate, mainly because of the stress. Yeah. But I mean, we get so many agents that come in and they're like, oh yeah, I just want to do this on the side, I want a side gig, I want to, I want to be at home with my kids and have extra money, and I want to be a stay-at-home mom, but I'll do this just a little bit, you know. I mean, that's all well and good, and I understand they have good intentions, but this is a job and it's a career.

SPEAKER_01 7:44

And like I feel that if you want to represent your clients the best and be and have the most information for them, you better be prepared. Prepared, and that's full-time work.

SPEAKER_00 7:55

That's when I say full-time, if you're doing it 40 hours and being successful, you're lucky. Consider yourself lucky that it's only 40 hours. Yes, because most of us put in, I don't I know you do, and I know you do. Yeah, a lot of us put in a lot more than 40 hours a week, right?

SPEAKER_02 8:14

I there I don't even keep track of the schedule because it seems that it's always in the back burner in some regard. It's always in my head. It's always in my head.

SPEAKER_01 8:23

There's always something going on at the time.

SPEAKER_02 8:25

I'm driving down the street, right? And I'm like, oh, that's a good one. You know, I'm driving down the street and I'm thinking about a client who, you know, I'm trying to solve a conundrum, like they're telling me this is what I want. Uh, and then I pass a house and I'm like, well, I wonder. You know, I mean, I just wrote a bunch of letters because the client wants to be in downtown Maysville, but they don't want to be close to the um the music speakers, which is kind of hysterical. But I had to look, you know, on the map and like, okay, okay, I'm gonna write letters to every single one of these. That's not where the music speaker is. No, it's right outside our office.

SPEAKER_00 9:03

You know what's really funny is we were just talking to these people the other night and we're like, you need to be guests on our podcast. I like now we're gonna be watching your podcast and we're gonna be on there. Hey guys, guys.

SPEAKER_02 9:14

Told you we're gonna tell you something about it. That's non-confidential, but it is, you know, writing letters to you know, prospect on their behalf in unconventional ways. I mean, these, you know, you say, Hey, are you guys interested in selling to complete strangers? You know, this is you know, because we've got buyers, so and they want a certain thing.

SPEAKER_00 9:34

So I think what people get from HGTV is it's like the fancy cars, it's the big houses, it's the huge commissions, um, being super dressed up every day and they come in to the office. Maybe they do think that it's a normal job and it's an eight to five, but honestly, for me, I thought I would love that. Yeah, wouldn't that be a swalk? Would be so easy. I think it's a lifestyle more than it is a job and an eight to five. Like if you choose this, it needs to be your lifestyle and you need to be okay with that. And your family's lifestyle too. You have to be okay with it. I think your family makes a lot of sacrifices for this, they do, and they have to be understanding about it. Like, especially if you I have noticed with me and a few of my friends, um, when I was younger, if you are a young single agent, man or woman, because I have a really good friend, um, he had the same kind of issues that I did. But you, if you haven't found your partner in life yet and you're still dating, people do not understand why you're on your phone to 247, including late at night with people of another gender, or you know, and they get weirded out about it. And it's like there's no issue with it at all as long as it's all professional. We're just talking about a house. I know. Yeah, but the unless I know it's just five at night. The average person that yeah, they can they can understand why are you texting some random guy at 9 30 at night? Why are you answering a phone call when we're sitting here having dinner?

SPEAKER_02 11:04

Like it's hard, it's very difficult. It's very difficult. So, so yeah, so you have the you know the the hours of follow-up, uh, the writing, revising, and tracking contracts. That uh, you know, there's a lot involved with that because you you gotta be careful that you're not practicing law, yeah, you know, and you again have to serve your clients a lot of times. You're negotiating it's like, well, what do you think about this? Or may I make this suggestion that we do it this way, you know? And and they might not agree, and you still have to do what they want. What they want, yeah. So, you know, uh, yeah.

SPEAKER_01 11:40

That's another thing about writing like doing the contract work is if you're out all day um showing houses, appointments, or inspections, or you're doing a second showing for something, a closing, you're away from the office, away from the computer, um, you have to make office time as well. Yes, and like setting that expectation with your client that I have these appointments, like it's gonna be this time before I get get that sent over to you to sign.

SPEAKER_02 12:12

It is that managing your expectations. It I I really believe again, and it's the whole thing with the communication.

SPEAKER_00 12:18

Yeah, oh, that's part about it. Being being upfront and tell them what to expect and when there's an issue, let them know. I mean, it's the better you communicate, the better off that you are. And I feel like that's in every aspect, but I've been learning those hard lessons lately.

SPEAKER_01 12:33

If you're not a good communicator, I would just turn this off right now. It's not for you.

SPEAKER_02 12:38

Yeah, I'll just throw that out there. Blunt truth from Sierra.

SPEAKER_00 12:46

Or if you can learn to be a greater, a better communicator.

SPEAKER_01 12:49

If you have no intentions of learning that, yeah, don't worry about it.

SPEAKER_00 12:52

Don't worry about it. And if you don't really want to spend a lot of time and a lot of effort, I mean, this is a great career, and it allows for some awesome things in life.

SPEAKER_02 13:01

However, if you're not literally, yeah, it's not there's effort and it's not necessarily I mean, I have the little hashtag glamorous life of a uh of a realtor. Um, because there are a lot of things that are far from glamorous, they're mundane, you know. Yeah, going over.

SPEAKER_01 13:21

I've been into some bank-owned homes that I would not call glamorous. I mean, I I it was cleaning up, you know, I had flea carcasses in one of my listings.

SPEAKER_00 13:30

Immediately go home and shower after that. Yeah. I mean Oh, have you guys had your first flea house yet?

SPEAKER_02 13:37

No, thank God. Knock on wood.

SPEAKER_00 13:39

Not that I'm aware of one.

SPEAKER_02 13:41

But now I'm itching. I know.

SPEAKER_00 13:43

Yeah, yeah, no, but first time you go in a flea house, you will know it. Oh no. No, I don't, no, I don't want that. So no thing, yeah.

SPEAKER_02 13:50

So not exactly like HGTV if we're being honest. No, exactly. Then you have the project management. And this this is, I think, one thing they do not do on HGTV at all. Because again, it's uh you it's mundane, you're coordinating and communicating with all the people. It doesn't make for good TV, yeah. Lender, you're on the phone, lender title, you know, contractors, inspectors, whoever.

SPEAKER_01 14:11

Yeah.

SPEAKER_02 14:12

And keeping every hurting those cats. There's a lot of herding of cats. So yeah. And the cats are on speed.

SPEAKER_00 14:20

Um, not always nice. They're they're not always nice.

SPEAKER_01 14:24

Some of them are feral. And some of them are very feral, actually. Some cats are femoral. Some of them are lion. Lion. Yeah. And bobcats.

SPEAKER_02 14:33

Yes, exactly.

SPEAKER_01 14:34

And some of them should be in jail, I guess.

SPEAKER_02 14:38

Agreed. Um, then you have things like the training, the new laws, the MLS changes. I will say all the time. All the time. And in fact, you know, I've been doing this almost three years coming up in March. The amount of change of when I started and now it just feels like it is on a just total fast track of every day bring something new. Yes. Yeah. It's so difficult to keep up.

SPEAKER_01 15:02

Yeah, it's it's ever changing right now, for sure.

SPEAKER_00 15:06

Part of why I think you have to be doing it at least full time to know the rules, to know what's going on, to stay out of trouble, to do the best for your clients.

SPEAKER_01 15:14

Yeah. I think part-time agents are a good, like maybe good for like a team or something where it's like you only have a couple hours. Here, help me go with these showings. Help me do like help me with like basically being like an admin, an assistant, or something like that.

SPEAKER_00 15:29

Yeah, or even showing agents. I mean, there's plenty that you could do. Yeah, it's a good idea. You could work with a few clients a year, stuff like that, maybe, but like to really stay up and know what you're doing, and it's a it's so much, and it's nothing against them, it's just a lot to try to keep up with. It is, and have another whole job or something else that you're doing.

SPEAKER_02 15:47

And it is possible. I mean, I because we talked about the part-time, because I mean, even you know, 30 hours considered you know, part-time for a lot of folks. Yeah, you know, again, it's managing the expectations and managing your workload appropriately, you know, not taking on, I think we do take on more than we should at times. Um, and you know, but I again, I mean, I see it those, you know, like okay, it's the holiday season. People are doing these holiday drop-offs. I don't have time to do that. I I I I try to do it. They have the cutest stuff. They do the cutest stuff, and I'm like, yeah, in a perfect world for now.

SPEAKER_01 16:24

I did it for Thanksgiving this year. Well, you deserve some. And well, I thought in my mind, like, this will be fine. I can take the morning and do this. Mm-hmm. Yeah. How'd it go? Uh, it took a couple days. What did you give? I gave little pumpkin rolls for Thanksgiving. Oh, that's brilliant. Did you make all of these pumpkin rolls? No, actually a little local baker made it. Oh, fine. So they were local and who was that? Uh her name is Shannon.

unknown 16:53

Oh.

SPEAKER_01 16:53

She just has a little little bakery thing. Yeah. See, yeah. Support in local too. Very cool. Yeah. And they're so good. See, and you know, but it's the idea of like she didn't bring us any stuff.

SPEAKER_02 17:04

I know. She's did you buy a house from me? This that's a valid point. So valid point. But you did send me some referrals. Yeah, see? Yeah. There you go. Yeah. I'm still owed a pumpkin roll. Write that down. Yeah. Pumpkin roll is owed to Liz. I'll get you one. Right. Okay. Um, the other things we have, you know, again, that it's not shown on HGTV, scheduling, inspections, appraisal, showings, managing emotions and expectations of both sides. We mentioned that. Marketing yourself, you know, putting yourself out there, your listings, your services, uh, making sure you're on social media.

SPEAKER_01 17:40

Marketing yourself is my one thing that I did not know coming into this. Really? Really? Yes. I did not re- I thought it would be more. I don't know what I thought, but I did not realize like marketing yourself, your your bus your business, your brand, like it to get clients and to just put yourself out there was like, I mean, it's a 50-60% part of oh love your job. It is it is high up there. I didn't realize how how much it would be.

SPEAKER_00 18:18

I think a lot of people getting into the industry think that, oh, if I'm a realtor, I get my license, people will come to me. No, they don't.

SPEAKER_01 18:26

It's like if they if they do, lucky you.

SPEAKER_00 18:30

I mean, friends and family. Yeah. You know, they're the best clients.

SPEAKER_02 18:34

So you'll okay, so day-to-day reality, we're back. We're back. Nobody welcome back to Nobody Listens to Liz. Uh, we're back talking about the day-to-day reality of what it really takes to be a real estate agent. So, for example, schedule not predictable. I I'm amazed at you know, how many of these things have I actually gone to? I was just checking to make sure I had this right. I didn't um yes.

SPEAKER_01 19:08

So that'd say, okay, plan your day. Yeah. My days are never the same. And whenever I try to plan them, it's something comes up. Always.

SPEAKER_00 19:21

This is my favorite conversation with you. Oh, is it? Yes. So Leah was my marketing director for what two years? Oh, that I knew she was gonna tell this story. Yeah, yes. She was my marketing director for like two years before she got her license, before I threw her off that cliff, and it's the best cliff she's ever fell on. She didn't know that.

SPEAKER_01 19:39

Yes, you know, so you've been in the real estate world like four years then.

unknown 19:42

Yeah.

SPEAKER_02 19:43

I've been exposed to the industry for a little bit longer. Yeah.

SPEAKER_00 19:47

Yeah. So she was my marketing person, and like I swear, every time we had something planned or a meeting, and I was supposed to be with her, she would get so frustrated. Like, where are you? Or how did you forget? Or why did you cancel? You've already canceled three times this week. You've already changed this meeting four times this month. I I just need you to be here one day at this time every week. That happens.

SPEAKER_02 20:17

She puts more frustration every time. Irritation in my voice rather than say, no, this is what I need from you and this is what's going on. And do I have to get that phone call now? I forgot to put on do not disturb today. This is fun. Um, but yeah, no, I think that again, the expectation of how many things you're juggling at one time.

SPEAKER_00 20:39

At one time, no idea.

SPEAKER_02 20:41

I mean, we're not talking just like chainsaws and flame, flame and batons. But throwing your family and your kids and school and dressing your kid up like a reindeer, you know. Uh-huh. Um, I actually I've got a running list. I have to write down and have lists. Now, I write it down because for me that helps my memory, but that list, then I'll forget the list. And the list, you know, could be just some scribbles and you know, a totally foreign language. I don't adhere to it because it changes all the time. I mean, I know today there's like certain things I have to do. I hope I do them.

SPEAKER_00 21:20

You know, I'm not really sure I will. So I think time blocking for the essential things is a really good idea, and having a plan for your day is a good idea. It is. But like just being flexible, just because you don't get exactly done that day that how you planned it to go for every hour of the day. You just have to be okay with it. You have to be flexible because or you're staying up till 3 a.m. doing it. Yeah, you could do that too if you really wanted to. But it's you know that that causes issues too.

SPEAKER_02 21:51

Yeah. Any uh perimonopenopausal or menopausal woman knows a 3M. Yeah, well, sometimes I do lay in my bed thinking, well, I could do this. Right now, since my body refuses to sleep, so yeah, you know, you just okay, I'll get this done. And I'm very productive during those 2 a.m. and 3 a.m. mornings, so I will tell you that.

SPEAKER_00 22:11

But I think people don't understand because we're putting the clients first. So, like, even if we have this perfect plan for a perfect day and it would get so much done for us, and it would be beautiful, our clients might not be able to go to that showing at 11. They might not be able to take that meeting at 2. They might, you know, we might have an issue with a contract, and that now is your fire. It is your most important thing of the day, and you cannot focus on anything else. That's right. Because it's about their home and we want to take care of them first. Absolutely.

SPEAKER_02 22:42

So, realistic expectation in the middle of a podcast, actually having to answer a question from another agent who's trying to show one of your listings and can't get into the lockbox, even though the directions are there.

SPEAKER_01 22:56

All about flexibility, baby. It is about flexibility.

SPEAKER_00 22:59

So it's funny you say that, like doing it during the podcast, because I actually have my phone on airplane mode so that it doesn't ring during this. I could not tell you before we started doing this podcast the last time that I was able to put my phone on something like that or turn it off. Probably my wedding and I've been married for five years is the last time I've ever put it on like a do not disturb or anything.

SPEAKER_02 23:24

It's you know, I So if that gives you some insight about this job. It does. Yeah, the job. I will say I've been trying to do better with like the do not disturb. I have a schedule and I usually try and put on do not disturb from you know 10 to like 8 a.m.

SPEAKER_01 23:39

I didn't even know we could do that.

SPEAKER_00 23:40

So oh yeah, I do have a sleep timer on my phone that does 10 p.m. until 8 a.m. Are we allowed to do that as real estate agents? I don't think so. I think it's fully illegal, but here we are, you know. Don't tell anybody. Really?

SPEAKER_02 23:52

I yeah, oh boy, I'd love to argue that one. Yep. Whoops. I mean, I I it is it's I mean, I yeah, I've gotten a a text from um a buyer at 1253 a.m. Yeah, wasn't very happy about that.

SPEAKER_00 24:14

I've been guilty about texting way too late, and I've learned to use my schedule send button. That's smart. You're welcome. Yeah, yeah, you were Melanie was telling me about that. I told me that was actually so it's all coming from you. Yeah, well, that was very smart. See, Sierra, we should just rename pretty face, rename the podcast.

SPEAKER_02 24:35

Listen to me. Listen to Sierra, nobody listen to Liz, but listen to Sierra. I love it. It's a good idea. It is a good idea.

SPEAKER_00 24:44

Whenever I think of something, I can just schedule it and it goes. And there you go.

SPEAKER_02 24:47

So, yeah, the nights and weekends being the work window.

SPEAKER_00 24:51

That yeah, that really, and particularly if you have kids or I wonder if people know that with that when they're getting their license. Like, do they know how much time you're gonna have to put forth nights and weekends?

SPEAKER_01 25:05

Yeah, I feel like I was um, I did a little bit of research and I feel like a lot of it said like nights and weekends.

SPEAKER_00 25:12

You know, that's good to know. Because I've I mean, I have mine set up now more as a business, and I'm working, you know, more eight to five plus a few showings here and there outside of those windows um and weekends and stuff. But like I've been doing this a long time, yeah, you know, 12, 13 years for me to get to where I can do that. And that takes me refining referring buyers out, right? Uh, not taking as many buyers, focusing on my listings because yeah, I can do the marketing and stuff during the day. I can meet with sellers a lot of times during the day around my own hours.

SPEAKER_02 25:47

So that's uh it's a whole different ball when you're starting out and stuff. I mean I just remember, and and I will say capitalizing on that energy and that excitement and passion makes welcome back. Okay, here's yes, welcome back again. This is this is the reality. The dumpster fire. The dumpster fire is interruptions. Um, you start one thing, do you finish it? Not always, you gotta come back around to it. Yeah. Um, you get calls, and there's an urgency that you have and you have to respond to these things, you know.

SPEAKER_00 26:30

Uh yeah, if somebody's at your listening and they can't get in, they're there with their clients to show it. You gotta stop what you're doing. You gotta stop what you're doing. Oh, yeah, they're not coming back. Coming back included.

SPEAKER_01 26:38

Yeah, yeah. They're not coming back. Nope. And if you don't answer your phone or answer your text, someone else knows the truth. Yeah, yeah. You're full of it today. I'm rehearsed.

SPEAKER_02 26:52

I love it. So so yeah, being available doesn't mean no boundaries, but flexibility is key. Yeah, that's one of my favorites.

SPEAKER_00 26:59

That um, who's that lady that we love? We love lots of Linda from North Carolina that covered. Oh, um she um so her big thing is on her voicemail, she leaves, and I think it might be some other places as well where it's communicated to her clients directly. Couldn't bother me until I she um, you know, I'm available from 7 a.m. to 7 p.m. Monday through Friday, and maybe like 7 a.m. to 4 p.m. on Saturdays or something. And I love that because she sets that up.

SPEAKER_02 27:31

She sets the boundaries, yeah. Sets the boundaries and stuff like that automatically.

unknown 27:35

What is going on?

SPEAKER_02 27:38

So sorry, we are gonna give her a shout out because I want to make sure that I can see her face, I can hear her voice. She's blonde, she's beautiful, she's she's wonderful, she is wonderful.

SPEAKER_01 27:49

She sounds wonderful. She is. Any idea who it is? No, but I do follow a couple letters from North Carolina, so Lee Brown. Thank you.

SPEAKER_02 28:01

I can't find her podcast on my phone right now, but my phone's acting up right now.

SPEAKER_00 28:05

Yeah, yeah, yeah. Lee Brown. Yep. She has one inch, and she sets great expectations as far as like when your client's gonna be able to get a hold of you, and she tells all her clients up front. I think, oh, so smart, so simple, but so smart.

SPEAKER_02 28:21

Very smart, she's very smart, so yeah. Love that. Yeah, uh, cancellations, last-minute showings. I mean, those are all uh just part of our business in a big way. So yeah.

SPEAKER_00 28:33

I had um I was speaking to actually one of our local title people this morning. Um, she is wonderful, and she was talking about how her realtor that sold her house was late to everything. And I was like, What do you mean they were late to everything? I feel sane. Like, well, they were late to show us a house, they were late when they were coming to our listing appointment, and then they were in um Vegas when I'm sorry, it wasn't a title girl, it was one of my friends. Um, she said they were in Vegas when we actually closed on our previous home. It's like, you know, I understand probably what was going on, something was going on in the background for that agent each time, and it just happened to be on that client with a client. However, they should have been communicated to and if they knew they weren't gonna come to closing, not because they were in Vegas, but maybe hey, I'm on a family trip. This is what's going on, on a work trip. I'm gonna send someone else. I'm going to, I'm going to be 30 minutes late. Please go ahead and plan for that. That would have been better than just showing up.

SPEAKER_01 29:35

Yeah. Or if I if I say, like, yeah, I can do that showing, but uh, I have a showing right before, so I might be, you know, could be, you know, I'll be there between one and one thirty. Yeah. Yeah. I think I try to say that up front.

SPEAKER_02 29:48

For me, you I split my time between Maysville and Louisville. And and so I'm in two different markets there. Um and sometimes, yeah, I gotta I've gotta be in Louisville. Well, that's two and a half hours away from Maysville. And so again, I try and anticipate what's coming down the pike. But if I can be there, like for example, I had a closing yesterday, that day was already booked completely. I did not expect that closing, which was part of the problem, um, because it'd been delayed so many times. But um I I could I couldn't attend closing, but I was I was on my phone. I mean, you guys saw me. Uh are you kidding me? Sorry, I thought I turned that off. Now I did. Um, that I, you know, was constantly checking in on them and stuff like that. And you just that accessibility, you have to be uh available, yeah.

SPEAKER_00 30:46

But being up front and honest and telling them communicating stuff, I think is really helpful.

SPEAKER_01 30:50

Yeah.

SPEAKER_00 30:50

Again, if you're not a good communicator, and if you're not honest, not free, cut it off. I mean, right, actually, the honesty, the honesty and stuff like that. Yeah, that's big on honesty and integrity in the real design. That'll really bite you in the butt eventually.

SPEAKER_02 31:04

Yeah. Karma will have her day. So, all right, self-marketing, which never stops all the time, every day, every minute, all the time. Yeah. Uh social media presence, client follow-up. Oh, that's an area I really need to. I mean, like follow, like checking in. It's not so much follow-up, but checking in with clients.

SPEAKER_00 31:24

That's where you need a uh daily plan. Yeah, so you know what day you're gonna check in with your clients. And things happen along the way to say you need to check in with them, but at least once a week they're gonna hear from you on what day and know that you're staying with that plan. And I'm super dulp to you this too. But I wish I would just get a plan together because they want to know what's going on.

SPEAKER_02 31:43

Yeah, even if there's nothing. Yeah, and it's interesting because I've had you know two clients reach out to me just this past week, say, Well, I didn't want to bother you. I'm like, No, bother me, bother me all the time. You know, always that door is always open. Please feel like you you are not bothering me. Yes, your question is not insignificant. I will be happy to help you with that. Yeah, so it just may take a look at it.

SPEAKER_01 32:05

Especially if it involves real estate.

SPEAKER_02 32:07

Yes, exactly. Or, you know, they were asking for um, you know, like, hey, do you know uh of an architect that we I'm like, hold on, I don't know one here, but here is a person who does know, and here's their contact information and stuff. Yeah, be able to help you.

SPEAKER_00 32:21

Yeah, being the source of the source, that's a big one for people getting into real estate is growing your network and knowing people and yeah, how they work and stuff so that you can let people know, you know, oh I mean you want to be their person for everything, like whether they need a roof or an accountant, a car repair, you know.

SPEAKER_01 32:40

Networking is another big one, like like marketing that I didn't realize would be such a crucial big part of it, piece of it.

SPEAKER_00 32:47

Yeah, yeah. Yeah. And especially with lenders and titles that you know, like and trust, and you know are gonna take care of your clients. That's a big one.

SPEAKER_01 32:55

And that's really hard to that's really hard to form that circle when you first get your license.

SPEAKER_00 33:00

Oh, because everybody, every lender in every title wants to go buy you lunch, which is super nice, especially. It's lovely, especially when you're getting started and like sure.

SPEAKER_02 33:08

Yeah, yeah, absolutely. But then you begin to kind of be able to weed out some of them a little bit too. I mean, I have my small circle, and you know, I have certain criteria, and if they don't meet it, then sorry. Yeah, you know, I mean, I I'm nothing against you, but my one of my main criteria is do you pick the phone up after five o'clock? Yeah. So, you know. Um, staying visible in the community. I think this can be very difficult for people because if they're not going into the office and they're just you know working in their home office.

SPEAKER_01 33:41

Well, it's part of the networking and marketing, yes, you know, is being visible in wherever it is that you want to sell. Yeah, you know, yeah.

SPEAKER_02 33:49

So absolutely. So creating content, open house marketing, newsletters. Okay, business sides, and we've talked about the business side as far as you know, you're owning your own business, you're not just an agent. And so yeah, people don't know that when they're getting started.

SPEAKER_00 34:03

Like you were going to be running a business, you that's a whole nother full-time job. Yeah, you know, it really is. You have no support, you have no staff, you have nobody to back you up, you have nobody to tell you how to do it.

SPEAKER_01 34:15

Yeah, and everybody runs through is a little different because they don't tell you how to run a business in real estate school.

SPEAKER_00 34:21

No, they don't even tell you you're gonna be running. No, they don't none of that in information. And your taxes, that's a huge thing to know about your taxes and your mileage and you know your expenditures and what you should be.

SPEAKER_02 34:34

Yeah, yeah. And filing, my office at home right now is filled with papers, and I made myself promise. I'm like, okay, you are gonna put everything in stack, and then just I hate filing. I hate filing, but I've got to get myself organized. So I gave myself to the first of the year.

SPEAKER_00 34:53

Like, you know what you should do?

SPEAKER_01 34:55

You have a lot of things piling up until the first of the year.

SPEAKER_00 34:57

I'm line it on fire. You have a lot of equity in that house. I probably wouldn't. No, I probably wouldn't. So, what is your I have a great suggestion? What is that? You're not gonna listen, but when you if anybody does, hopefully somebody else will tell you this is the same thing in the next 30 days or two. So tell me that you just and then you can tell her. Um, you should set a timer and do like 10 minutes a day. Ah yeah. I was gonna say that. Just 10 minutes a day. Tell her. Tell her so she'll do it.

SPEAKER_01 35:25

You need to time block and set out either at 3 a.m. 3 a.m. for an hour, 45 minutes, whatever you got, 10 minutes, 20 minutes, yeah. Yep and just file. 10 minutes. Let's be honest, you're not gonna get anything.

SPEAKER_00 35:38

And then the next day, 10 minutes. Next day, 10 minutes.

SPEAKER_02 35:41

I think it's a great suggestion. There we go. All right, time block, set the timer. You'll wait till the night. Honestly the first thing, though. And it would be so much easier. Well, as a person with ADD, uh, this is something that definitely, I mean, you you put push off anything you don't want to do until it's absolutely urgent. And then you are a master of productivity. Yes, you are just like, give it to me. I can hyper. I can handle anything, anything, exactly. But not until it's due. Yeah, yes, this is true.

SPEAKER_00 36:10

So um I used to call that procrastination, but I feel like it was just ADD the whole time.

SPEAKER_02 36:15

I think it was too. So yeah. Um yeah, the small business side, okay, the attention to detail. Yes. Oh boy.

SPEAKER_00 36:23

I'm pretty lacking there. Motherfucker is not my strong suit.

SPEAKER_02 36:28

I don't know if I would agree with that. I mean, you're very good at big picture and stuff, but you know, like the contracts, you you're the one that taught me about going through the contracts more than once when you're writing them up. Go through and check your work. And read them aloud. And read them aloud.

SPEAKER_00 36:42

Yep. Yeah, that's just because I don't want to go to jail or get sued, but details are not usually motivation. And that's something too. Like, do people know that? If you're going to get your real estate license, like, those are real things that could happen. Oh, yeah. You've yes, yeah. Make sure that you don't get your eyes across your T's. It is a real thing. You can get fined real money, contingencies, time periods, all kinds of things.

SPEAKER_02 37:09

I mean, I back of my mind is like, okay, I know an addendum has to be written to extend a contract for me today, deadlines today. Yeah. Actually, the buyer's agent needs to be writing that, but I'll just remind him because yes, we do have to manage the other stuff. Other deals.

SPEAKER_01 37:24

Yes. Well, okay, that was another thing I was gonna say. Yeah. Is that it's really easy for you to get your license, get your first deal, and smooth right on into the closing table when the other agent knows what they're doing. Yeah. Yes, yes.

SPEAKER_00 37:42

And hopefully they're a good agent and they will help you. Yes. But you have to be open to that as well. And that's hard for grown adults to be like, oh yes, I actually do need help. I do need you to tell me what I've done.

SPEAKER_02 37:54

Do you remember to do this? Yeah. Stuff.

SPEAKER_00 37:56

I mean, yeah. And for the, you know, one agent has to have some grace and the other one not be condescending about it. And the other one has to be open and willing to accept that and take the advice and learn and grow from that thing. Yeah. Yeah.

SPEAKER_01 38:09

Yeah. Keep your pride out of that one.

SPEAKER_00 38:11

Yeah, really.

SPEAKER_01 38:12

Because that's a deal killer. Yes. Well, something and not just for agents, but like on this buyer and seller sides too. Pride is always a deal killer. Yeah.

SPEAKER_02 38:21

And really, it's again, your your client's interest is first, is primary, priority. Yep. And so does it serve your client? You have to keep that track running in your mind all the time. So um, yeah, the tension detail, problem solving, small issues before they become big ones, right? Oh, here we go. Uh, so characteristics of a successful realtor or real estate agent. What are these? Oh, yes. Communicator. Yes, communicator is definitely there. Uh, driven. Um, no one tells you what to do daily. Yes, no one ever tells you what to do. No one. Ambitious. Yeah, you have to chase improvement constantly. I think that's an important one. And ambitious, I think, is like not just necessarily, you know, scoring the deals and and and getting clients and stuff like that.

SPEAKER_00 39:10

Just marketing yourself and putting yourself out there and being a part of the community, all that takes ambition.

SPEAKER_02 39:16

Yep. Uh self-motivated. I think that goes with driven. If you don't work, you don't get paid. Yeah. The the line, you know, we uh only eat what we hunt or eat or whatever that line is. Uh sales mindset, not pushy, but confident in conversations. See, I don't even think of sales as much as relationship building.

SPEAKER_00 39:34

Yes, it's relationship sales for sure.

SPEAKER_02 39:36

Yeah, so uh market mind marketing minded, you are the brand. You have to keep that in mind. Detail oriented, contracts, timelines, communication. Here's your strong communicator, text, email, phone negotiation. Also, uh tip always find out from your clients how they like to be communicated with. Whether that's text, phone, email, some of the, I mean, I have some, do not want a text at all.

SPEAKER_00 40:07

And just because your form of communication is text does not mean it's theirs. You have to accommodate that. Yeah, you're working for them, it needs to be comfortable and easy and wonderful for them.

SPEAKER_02 40:16

Exactly. Yeah. So and finally, problem solver, uh, you know, maintaining calm during chaos. Now, you may be chaotic and you know, go into like blah, you know, with you know, colleagues just to kind of vent let off some steam and stuff like that, but you've got to keep it. Lots of problems that you'll be solving. Yeah. You are just, yeah, you have to be an excellent problem solver. Yeah. So yeah, call out. Uh yeah, this isn't a job where you're just like dabbling into it. Because again, particularly as a realtor, that you you don't dabble in the code of ethics, you know, right? So, but success equals consistency plus skills plus mindset. Absolutely, I agree. Oh, startup costs and financial realities. This is a good thing, right? Yeah, yeah.

SPEAKER_01 41:06

So and this is uh, I feel like a reason why a lot of people get their license and just do part-time first because they can't afford financially go jump. And I understand that.

SPEAKER_00 41:17

Yeah, absolutely. Completely fair. But yeah, it there's a lot of costs. You have to pay for your real estate school. Um, if you're lucky, you'll find a place that either will do some kind of scholarship or tuition reimbursement. But you have to pay as you go, yeah. Yeah, but you have to pay for your real estate school, and then you have to pay to get your license, and then you have to pay to join your MLS's. So, I mean, exactly background checks. Yeah, and then then there's the yearly dues that you always have to. Yeah, and your board you have to join a board in the state and the realtor commission.

SPEAKER_01 41:47

Oh, and we talked about marketing. So sometimes marketing costs money.

SPEAKER_00 41:51

Yeah, yeah.

SPEAKER_01 41:51

Your lock boxes, lock boxes aren't cheap.

SPEAKER_02 41:54

So signs, business cards, yeah. Yeah, yeah. The headshots, oh my gosh, headshots. Please update your headshots too on a regular basis. Um, I'm always in a maze at the ones that I'm like, oh, that is such an 80s glamour shot. Please update your headshots. Um, yeah, and any coaching or training that you may continue to receive, you know.

SPEAKER_00 42:17

And you might have fees with your brokerage, depending on what brokerage you're at. Yep. Yeah, there's a lot of fees. I mean, a few thousand dollars at least to really get started before you ever even sell a house. And it might be six to nine months before you ever sell a house, unless you have really good support, you already have clients lined up, you know, you know a lot about the business, it could be a really long time before you sell a house and it's all what you put into it. So, you know, if you're doing this full time, if you're really putting effort in, if if you're ready to go and you have knowledge and you have you know customers in the wings, you're gonna be a lot better off than you're just which if you're listening to this podcast, you're probably doing your homework.

SPEAKER_02 42:57

So you are, you are you'll know more than the average bear. Yes, right. So so the financial realities uh that are not expected or anticipated by new agents, um the inconsistent pay. Yeah, there's no guaranteed income. No, yeah, not a bit. Nope, at all. And you've got market fluctuations. We are definitely in the middle of one. Uh, some of us on the couch are actually on fire, some of us are snoozing in the middle of the ocean without a breeze in sight. Although we're doing all the things, we're doing all the things, you know, it's just market fluctuations. Uh commission delays. Oh, yeah. You could wait a long time to get paid by your brokerage. Make sure you understand that expectation or that's communicated to you.

SPEAKER_00 43:46

How they're gonna pay, how they're gonna pay you, when they're gonna pay you, that they're gonna pay you, how much they're gonna pay you. Yes, yeah.

SPEAKER_02 43:52

It could be thirty to ninety days, guys, right? So you need to make sure.

SPEAKER_00 43:57

Or it could be twenty four, forty eight hours or Automatic right at the closing table. So that's a question for whatever brokerage you're looking at.

SPEAKER_02 44:05

Yeah. Taxes, yeah. You're $10.99, you're self-employed, you must pay your quarterly taxes.

SPEAKER_00 44:10

You must and there's good news about that because you can have so many write-offs and stuff, but you have to understand them and you still have to put the money forward to get those right to get those write-offs, yes.

SPEAKER_02 44:20

Yeah, yeah. So uh savings cushion, yes, ideally three to six months. And they sit tell you that tell you that in you know any job industries and stuff.

SPEAKER_00 44:30

Yeah, I think that's really smart, heavier on the six to twelve.

SPEAKER_02 44:35

Yeah, absolutely. Um, yeah, your first sale may take months, and a lot of agents don't see income until you know four to six months onwards.

SPEAKER_00 44:44

Some agents also never sell a house. Yes, you know, we lose a lot of agents in the first year because they never sell a house. We use a lot of agents in the first two to three years, and then again at five years. So, I mean, yeah, just because you get a real estate license doesn't guarantee you're every video selling business, exactly. Yeah, you've got to be prepared with the stuff we're talking about.

SPEAKER_02 45:05

Yeah. So with that, the expectations, particularly when you're starting out. Um, and I would say you need we have first year here, but I'd say first to three, honestly. I mean, because I'm in my third year, and it is you are learning more than you're earning. You will make mistakes. You will make big mistakes. Yeah, we all make mistakes. We all make mistakes. Have we told the story about me? I think so. I think so with the uh the driver's license. Yeah. Accidentally, yeah.

SPEAKER_00 45:35

Um, so yeah, you're gonna hopefully you don't put anybody's driver's license on Zillow, but if you do, you won't be the first.

SPEAKER_02 45:42

No, you will not. Give me a call. Um we will commiserate together and you will survive that. And actually, you're still a client, so there you go. Um, but yeah, most of your time is self-promotion and education. Ask questions. You know, there's you have so many colleagues that are in this business and stuff like that. And if they're available, hey, can I take it for a coffee, you know, and can we sit down and just talk shop? Yeah, you know, that's a good one.

SPEAKER_00 46:08

When you're looking for brokerage, when you do get your license, make sure that you go somewhere to be with open-minded people and they have a um uh abundance mindset, no scarcity mindset, no closed-minded people that say, you know, I'm not gonna share any of my secrets with you, I'm not gonna help you do it. You do not want those people, they are not gonna help you succeed. Right. That's very important. Yes, absolutely. Absolutely. What's is there anything that you guys didn't realize before you got your license? Like, what was the most shocking thing for you when you got your license that you did not expect? Mine was the marketing one.

SPEAKER_01 46:49

Was it really? I I did not realize how much marketing yourself, branding yourself, and just going out there and getting clients. Getting your own business. Yeah. So you didn't know you'd have to go get your own business. Well, I did I didn't know. Yeah, it's like the marketing side is how how you get them. And like that's that's the part that I did not, I didn't want my picture plastered on a billboard or you know what I mean? So pretty, it would have been so nice.

SPEAKER_02 47:21

Yes, I see the time. So, yes, this is also managing expectations of understanding what time it is. I did just look at the clock to make sure we're five minutes away.

SPEAKER_01 47:30

Um you have one less? Yeah, yeah.

SPEAKER_00 47:35

My biggest thing is the playbook. There was no playbook. There was no like what to do daily. Yeah, like what to do daily, what to do ever exactly client how to sell.

SPEAKER_01 47:45

How to make your phone ring. Yeah, like okay, I've got my license. Now we're like, how do I make it stop? Yeah. Yeah. I've got my license now. What do I do?

SPEAKER_00 47:54

I'm ready to sell a house.

SPEAKER_02 47:55

Yeah. You know, I think for me, it has been the roller closer of managing my own expectations and emotions. You know, there are deals that are going to you can you can give your absolute best effort on a deal and serving your clients the best you can. And there, you know, I remember asking my work, I'm like, is there something I could have done different? Yeah, is and sometimes hard when sometimes you just doesn't work out, and you have done everything you possibly could to save the deal. And and you feel so bad and so guilty. And it takes me, I am kind of building a kind of resilience to kind of rebound because you do will you will have times when you're like, I'm the worst agent on this podcast.

SPEAKER_00 48:49

Yeah, but then you've got another client calling and they've got their own problems and you got to move on. Yeah, unfortunately. Yeah, yeah.

SPEAKER_01 48:55

I do think it's good though to always keep that a little bit of hurt that you care from it. Yeah, because like you have to care, you have to care about your client. So being able to care about when things just don't work out, yeah, I think that's important to hang on to a little bit.

SPEAKER_02 49:11

Yeah, I like that. That resilience, I think, is is something that comes over time uh and experience is uh great level or it'll it will teach you I don't know.

SPEAKER_00 49:21

I've had a lot of experience and I've got this thing.

SPEAKER_02 49:24

So, and I guess you know, one of the things again, my what I do struggle with are the boundaries of my personal professional. It's completely intermeshed and it's a lifestyle.

SPEAKER_01 49:35

It is a lifestyle.

SPEAKER_02 49:36

I think you mentioned that.

SPEAKER_01 49:37

That's a good way to put it, because it is, it's not a job, it's a lifestyle.

SPEAKER_02 49:41

Yeah, so for those existing agents, I'd be curious, you know, what is what are the things for you that you know uh surprise you about, you know, being an agent. Um, and what do you still struggle with? Um, for the newbies, if you have questions, if you want Liz's playbook, that's right, the playbook she's got.

SPEAKER_00 50:00

Yeah, you can drop the word playbook and then um messages down below and we'll send that to you. No gatekeeping here. That's right, that's right.

SPEAKER_02 50:10

So, so absolutely. Um, so thank you again for joining us for another episode of Nobody Listens to Liz. I'm Leah Frederick, I'm Liz Eric Dykes, and I'm Sierra Pelusa. We'll see you guys next time. Bye. We got through it. We got through it.