It’s time for us to solve your real estate problems with a little podcast therapy! Join us for this recording of our Hustle Humbly Community live from April where we took our community members’ questions and struggles and talked through the mindset shifts and solutions that could make an improvement. We are tackling the mental game of being on the real estate roller coaster, prospecting and nurturing buyers that aren’t ready yet, dealing with being young and in a tough market, confidently sharing your worth, tuning out the noise and shiny objects especially as an agent with ADHD and so much more! No, we aren’t real therapists, but we will give you our best advice and talk through some of the challenges that we all face as we navigate a career in real estate!
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The following is a rough transcript provided by Otter.ai.
Alissa 0:01
We also talked about arson. Arson, that is an option, and if that doesn’t work, you can try the Mean Girls version, which is a bird
Katy 0:10
book just burn as well. This
Alissa 0:12
Claudia is so aggravating, and that’s really therapeutic as well.
Katy 0:19
There’s no tactful way to say you were wrong. I was right.
Alissa 0:24
I feel like my most difficult clients have made me as good as I am today. Okay, this case study is called, come get your Hi y’all, welcome to hustle. Humbly, it’s Alyssa and Katie. And we are two top producing realtors in the Baton Rouge market. We
Katy 0:42
work for two different companies where we should be competitors, but we have chosen community over competition.
Alissa 0:47
The goal of our podcast is to encourage you to find your own way in business, so stop
Katy 0:51
comparing yourself and start embracing your strengths.
Alissa 0:54
Hello, friends. The episode you are about to listen to is a previously recorded podcast therapy episode, we had a group therapy session within our hustle, humbly community, and it went so well, and was so productive, and so much good work was done, we wanted to share it with everybody. So we’re all just gonna take a deep breath. Take a deep breath. Okay? And we’re gonna listen to this podcast, therapy episode, and just embrace it. Embrace the process. Okay? We’re gonna do some good work here today, but only if you’re open to it. Thank you for being here today. You’re already taking one step towards improving yourself.
Katy 1:41
Thank you so much. I would just like to say that this was in our community group. Did you say that? Perfect. Okay, goodbye. Everyone. Enjoy this episode. Okay. Well, good news. Everybody, do you want to do like your official lead in we have slides today. We do. Are you going to use your therapy voice? I don’t know what that
Alissa 2:00
is. But thank you for being on time for your appointment today. It’s 204, for the record, let’s remember this hour is about you and everything else outside of this room today, we’re just going to let it melt away for a minute, while we focus on on you and being present with yourself and your body and your breath like
Katy 2:22
that. That was really good. Be present with yourself, and you might have noticed we’re not real doctors. At the
Alissa 2:29
bottom, not real doctor, okay, not real doctor, despite some of the emails we received that we cannot share today, because we are not real doctors, but we very much enjoyed reading them, and we do have some really good case studies of things that we’re going to discuss. Yes,
Katy 2:48
we do fancy ourselves good at advice, I
Alissa 2:50
think so. Yeah, psychiatric help. Five cents. We’re here for it. The
Katy 2:54
doctors are in. Yeah, no, not real doctors. So we have some
Alissa 2:58
case studies that we’re going to go through today, and we’re going to give you our advice. These are things that were written into us requested to be chatted about. Everyone is remaining anonymous, okay,
Katy 3:10
so, but if this happens to be your case study and you’d like to jump in, feel free to chat. Yeah, all right, let’s read it. Number one case study. Oh, one.
Alissa 3:18
Fasten your seat belt. We’ve named them. Yep, if you didn’t
Katy 3:23
notice, I’m struggling with the mental game of real estate being a roller coaster. I’m almost two years in, and I need some encouragement and perspective from the pros. By roller coaster, I mean emotions of buyers losing a bid, busy versus slow clients looking to move then not hype me up.
Alissa 3:39
I feel like it was a roller coaster for the first five years or so. Like we always say, like years one through three is you have to make it there. Okay, so you’re almost there. Fasten your seat belt. You are almost to that three year mark. Even then, like now when a deal falls apart. I’m upset, but I’m not crushed and devastated in my soul, because I’m so glad. It’s like your pipeline builds. You’ve you’ve seen the pattern, you’ve ridden the roller coaster. So much. Look, Molly is feeling this case. Double one,
Katy 4:17
double o1
Alissa 4:17
thought this one’s for real. Okay,
Katy 4:20
this is true. I will say one of my best tips for when you’re if you don’t have enough past experience, this is a little bit tougher. If you’re on year one and it feels like a roller coaster. Well, you just need to get used to that feeling, because it is. If you’re on year three, you need to look back at year one and two. Or if you’re on year eight and you’re on the roller coaster, you can look back at all the previous years and be like, Well, wait, this is how it normally goes. The first quarter is always slow or like, you just kind of have to look at what happened in the past. I would also say, if you want to put together a brag book, I’ll go get mine for y’all.
Alissa 4:51
And while she’s getting her book, I just had a client. Well, I had the listing, and we’re under contract, and the buyer’s agent has been delayed. Delightful, but the house, my listing, needs a new roof, and we’ve been trying to negotiate this, and there was a few times where, you know, I just had to say, I can’t make them my sellers pay for an entire roof, just like you can’t make your buyers. And she was like, if this deal closes, it will devastate me. And I just felt me doesn’t close, doesn’t close, if the heel doesn’t close, it will just devastate me. And I just felt so bad for her, and she was like, You’re so calm. I said, I’m I want this to go through, but I cannot for I’m gonna do everything I can, but at some point, right, it’s just out of my hands. You know, we always say, like, you can’t have the monkey on your back. Yeah,
Katy 5:41
so I’ll give you a bigger view of me. Here is the brag book. You all, if you have a bad day in real estate, this is what you need. It’s all of my client reviews. It’s all of the cards that they sent me. It’s just anything that was nice that happened to me during my now nearly what 1819, year career start now go print up your reviews, make yourself something that’s tangible, that you’re like, This is why I do it. This is what’s gonna it’s gonna come back around the roller coaster ride, will, will, will go again. You know it will, will be at the top. And if that
Alissa 6:14
doesn’t work, you can try the Mean Girls version, which is a burn book. Just burn as this client is so aggravating, and that’s really therapeutic as well. Either way,
Katy 6:25
this really says a lot about our personalities. I’m like, here’s the brag book. Put all your reviews in it, and you’re like, get a burn book. Or Bobby just left her market, but she’s gonna do it, Bobby, you’re gonna do it. You’ve got this. Bobby Brittany says her grandma bought a house and wants to sell the house she bought and now wants to keep the house and sell the house she lives in. I totally understand that she has called me every day this weekend. Change your mind from one, that’s
Alissa 6:47
a roller coaster, you know? Just Yep, there’s so many roller coasters, so many. Okay. Are
Katy 6:53
you ready for the next one? Case study? Oh, oh. Two. You want to read this one? Panning
Alissa 6:58
for gold. I’m very good at working with buyers that are ready and looking. I’m not so great at prospecting and nurturing for future clients. Yet, it’s overwhelming with all of the available options on how to do that that I shut down the thought of what to do to nurture the database. Any thoughts about this are appreciated. I also thought this would be a perfect case study number two, because it follows case study number one, if you two different people, but if you can’t do number two, you’re going to be on the roller coaster much longer. What I have found, especially with newer agents or slower agents in their moments of slowness, is that when they get a client, they finally get someone and get them under contract, they are so consumed by that transaction, they let everything else go to the wayside. They are not handwriting any letters. They’re not doing any open houses, like all the things that would get them business stop because they’re so consumed with their transaction well, then the transaction closes, and you’re back at the bottom of the roller coaster, having to start from scratch every single time. You can’t stop the
Katy 8:14
basic not either or it can’t do both things and in both right? I also wanted to say that prospecting does not have to be painful, and if you don’t know where to start with your database, my tangible tip for this would be go to the column last contact and actually just make it your goal to fill that out, like get through your whole database. When is the last time you contacted them? Once you get to the bottom, you start back at the top, and then you go down
Alissa 8:43
again. And y’all, I’m not picking up the phone, calling 27 people like, I know that there’s so many things out there that say, if you’re not picking up the phone and just y’all, I told Katie on Tuesday, when we were together, my phone won’t stop ringing. It just rings and it rings, and if it’s someone that I can not answer, like I have my my dear sweet roofer, who I adore, and he helps me out so much. But I’m like, can you this could be a text message or don’t, don’t call me at all. You know it’s like, if I don’t have to answer, I’m not but that being said, it could be as simple as going to that person’s social media and commenting on their last post. That could be wishing certain people happy birthday for that day. I mean, we’re talking so simple, but all it takes is you popping into their life a little bit. So much pressure is put on nurturing and working the database. And it’s like it doesn’t have to be that hard. Brittany said, Alyssa just said, text message? Is she now texting instead of email? I
Katy 9:50
was thinking that in my head, but I was gonna love like, you know better. I know better. You know
Alissa 9:55
better. I do text with clients and vendor for sure. Yeah, vendors. You know, I just try not to do it after hours. Like, I’m not gonna, she’s gonna, I’m available texting perimeters. Don’t text her a house. Yes, me a house. I’m gonna ask you to email it to me so that I can run comps and check disclosures. Okay, oh,
Katy 10:13
my, okay. We’re on a situation study. So, yes, we
Alissa 10:18
have actual situation study. We’re mixing in. Okay? This case study is called, come get your
Katy 10:25
okay. You want to read it sure seller needs to sell land deceased sellers. Mobile Home is still on property with a $10,000 mortgage not being paid, and the bank is foreclosing. Cannot list land until unlivable mobile home is removed. What to do now. So
Alissa 10:41
just to recap, this agent has a piece of land that she needs to sell. She needs to get it listed. The problem is the seller said that there is a mobile home on the property that, at one point belonged to seller’s sister, and the bank has now come and locked it up. Yes, the bank has put locks on it. It it has gone into foreclosure because it had a mortgage on it, but the bank won’t come and get it. The bank will not come and get it, and she cannot list the land until she knows when the mobile home will be moved off of the land. This is very tricky, you know.
Katy 11:18
So does anyone have any solutions for this? Would love to source some crowd data for this person who asked us this question. We have an idea. It took a mess to get there, but could you put it up for auction or something? You can’t,
Alissa 11:35
because you don’t own it anymore. The Bank does if you, if you could have tried to sell it before the bank took it back. We also talked about arson, arson. Jake, in fact, we did two arsons in here, just correctly. Yes, we like, where your head’s at. We thought that is an option,
Katy 11:59
yeah, but the buyer can remove. I mean, it doesn’t belong to the seller. The seller can’t sell it. It doesn’t belong to them. It belongs to the
Alissa 12:05
bank. It’s no longer their sister’s sister has passed, and bank has taken it back, so they but they haven’t, and the bank is not coming and physically removing it. They came and put locks on it, but they will not remove and they
Katy 12:18
can’t talk to anyone at the bank, they won’t talk to them, and my final say on this is to call the sheriff.
Alissa 12:27
Yes, that’s what we what we decided is that it is somebody else’s property on your land, like Come get your so the seller needs to call the local sheriff and say, This is not mine. It is owned by the bank, and the bank will not come get it, so the local law enforcement needs to be called to get involved. After months of inaction, the number of arsonists amongst us is quite hilarious. I like fire Well, I
Katy 12:55
mean, it is the easiest solution, albeit not legal, move it to the road, yeah, just like, like, just shove it out into the road. Yeah, I feel like the society good idea would not appreciate that that’s picking up, yeah, but Sada, okay, yeah, I
Alissa 13:11
think that’s it. So anyway, what we would do, ultimately, after analyzing this case, is we concluded that the mobile home is trespass. Okay, good news, Bobby
Katy 13:20
had this happen, and eventually, with multiple calls, the bank that was foreclosing finally got it moved. Our question is the mortgage e that is deceased. So, like, I almost feel like someone they had to get the death certificate and then she can go talk to them. Okay, if it’s in the road, someone else will have to take it away. Yes, I would.
Alissa 13:40
So Jordan is worried about a potential cloud on title. But here’s the thing, the title is not affecting the land at all. The title is strictly tied to this. But
Katy 13:50
mobile phone wasn’t always there. When this person acquired the mortgage for the loan for this mobile home, it was in a different location, and this mobile home was moved to this piece of land at some point in time. Okay, let’s, let’s move on. Excellent, excellent. Case study number three, quality over quantity. I’m feeling a bit discouraged. I know mindset is everything. I would say, Yes, I have a mindset of steel. I haven’t closed on a home since September. My market is tough right now. And as a younger person, 22 I feel like I have to fight tooth and nail to get taken seriously. I have experience in the industry. 1.5 million volume closed my first year. I’ve done at least eight open houses a month for the past year. I’m at a loss. My business is spiraling. I’ve had to start nannying to make ends meet. Oh, and thanks for letting me vent. I don’t know what to do. I love real estate. It’s truly my passion. I want to make it work terribly out. I make two years in the business this August, and maybe I just need to hear some encouragement. Lol, this felt good to let it split it out, people, that’s what we’re here for. We’re
Alissa 14:49
just letting it out today, again, year one through three. Don’t say we didn’t tell you. So year one through three is the hardest. Yeah, that. Actually year one through three. Right now, with all these changes, we might have to change that with years one through four, correct? You know, like yours, one through four are the new hardest years to get through. And I think also just saying, and you know, Victoria, New Orleans, is tough there. You’re not the only one, yeah, and I think that could be a question too. Of asking, are my expectations being set properly? You know, I always said, I think I succeeded so much because Connie told me, If you sell a house your first year, we’re going to celebrate. And I was like, oh, a whole year. So when I sold a couple, I was like, really celebrating. But if I thought I was supposed to sell 10 my first year, I might have been disappointed, but my expectations were set properly to say, like, this is the market, and this, this applies to anybody, not just those who are new. We are in a tough market across the board with changes with interest rates. You know your year may not look like your years prior. So asking yourself, Am I doing all that I can? Are my expectations set correctly? I know Katie also wanted to touch on the eight open houses a month. Yes, okay,
Katy 16:18
that’s where we get the quality over quantity. So asking some questions about,
Alissa 16:23
like,
Katy 16:24
what is the follow up after like, what is the success rate of getting people to sign in? You know, what can we do with this information once we have it? Would it maybe be better to do for open house as well, instead of eight? Are we at the same house eight times? Like, is that one just getting burned out? No one needs to see it anymore. It’s
Alissa 16:43
a lot, and your resources may be used better with less quantity, quite a
Katy 16:50
mental load. Yeah? Kind of burn anyone out eight in a month? So maybe four quality over eight quantity would be, yeah, an idea just, I
Alissa 17:00
mean, I know, when I first started, I was doing them every weekend, you know, I didn’t have kids, and I was just, I had all this time, and then when I switched to every other weekend, it was amazing, yeah, and I felt like I went into each open house like, so energized, because I had had a week off that I was connecting better with the people who came In, because I was actually excited to be there. So just really analyze, like, what you’re doing now. Even for those of you who are here that are feeling discouraged and aren’t seeing the results as you hoped, analyze, you know, being really truthful with yourself, sort of doing like, the time audit that we like to talk about, what am I actually doing today? Yes, I went to podcast therapy, and that’s great and helpful. But did I reach out to anybody in my database today? Have I written any notes lately? Like, what have I actually done that’s going to get me business and then analyze how you’re doing that, is it? Are you being intentional with the leads that you do have from your open houses and other sources? It’s tough, you know, but I think just making sure that you stay honest with yourself about what’s working and what’s not working,
Katy 18:18
Molly’s really letting it out. Yes, Molly it this is true, but I again, real sure I will, okay, fine. It’s just so sucks when you’re trying to ramp in without a financial ramp and having to work another job at the same time, because we all know part time real estate won’t create an actual viable career, letting it out, guys, I would agree and disagree with some of those statements, I think if you think that it’s hard it is, and there’s nothing you can do for free, then that’s what your reality is going to be. If you think you can’t be successful as a part time agent, then that is what your reality is going to be. But if you say, I can be part time for six months and build the runway I need, I can, or if you can say doing an open house doesn’t cost me any money. It only cost me some time, and I’m gonna meet two new buyers
Alissa 19:05
like and bring something to do, maybe during that open house. So if it’s slow, at least you knocked out some database reach outs, you know, at least you hand wrote some letters, at least you did some things while you were there. It’s like your office for two hours, and if somebody walks in the door. It’s just a bonus that you got to meet somebody. Yeah, I bartended my first 18 months, or however long it was, maybe not 18 months, but I had to. I was not married, even after I was married, it was, you know, hard financially for sure, but I had to wait tables and things like that, until I got my save and I was living super tight. I wasn’t spending any money on marketing, promo materials because I didn’t have any money. Look, we have the benefit of social media, which at that point in time, wasn’t where it is now. So
Katy 19:57
I think there are free, definite. Ways you can spend your time to get some business. I would also like to say to Victoria, think about, if you’ve been doing this many open houses, go back and follow up with some of those way old attendees. You know, it sounds like you’ve been doing this for a long time, maybe on the top, you know, save your time. Don’t go to another open house, but go back to the old ones and be like, Hey, are you still have you given up on this? Have you given up on them? You’ve given up on your home search? That’s how you get them to answer. All right, what else Jen says, My mindset on open houses is that two hours set aside on Sundays to work on my business, whether it’s the in the open house, planning my week, or working on my commute
Alissa 20:39
and Jordan, that’s why I have to think about it too. Like, once I get there, getting there is hard. You know, it’s Sunday, I want to just, like, stay in my sweatpants, and then you get there and you’re like, so productive for two hours that I’ve never regretted doing one. No, just hard. It’s like the gym. It’s hard to get there sometimes, but you’re never going to regret going. I
Katy 20:59
would like to say this last comment. We’ll move on to next. Case study Molly. This is a perfect way to say it. She can make it as a part time agent with a full time passion. There
Alissa 21:08
you go, Molly. Look at you. That’s it. That’s the answer. That is the answer.
Katy 21:12
Case study number oh, well, they were just getting crazy. Case study number four. Do you want to read that
Alissa 21:18
one pressure makes diamonds? Dr Katie and Dr Alyssa. So still, the rack is up. I’m struggling with feeling confident and knowing my worth when I have a difficult client. I don’t want to feel like I am cowering down to them. I want to stand confident. Help me with my mindset. Okay, great. We
Katy 21:38
will love to do that. Mm, hmm. Difficult clients don’t last forever. They don’t silence is usually interpreted as competence, so just let them be like Let them say what they want to say. You don’t have to answer everything. You don’t have to fill the awkward silence. Let there be the pause. Eventually, even a rude client will talk themselves out of being rude if you don’t like if you don’t give them any more ammunition. So I would say Quiet quiet confidence. And then I do have a script, if you will, for if they ask about commission, because I assume this is when it would come up most often. I am only able to charge this commission rate because I only know how to give full service. I simply don’t know how to discount service. So I can’t take a discounted rate. Beautiful, like I just can’t do it.
Alissa 22:27
I also find that I try to use their own words, not against them. Mirrored, mirrored, yes, you know when they send you eight houses to go see on Saturday, and three of them are out of the price range, and three of them are out of the area, and two of them have carports. When they said they only wanted a garage, so many agents would be so quick to get them all scheduled without even checking anything, whereas it may be helpful to send notes back to say, correct me if I’m wrong, but you said that you had to have this. I just wanted to let you know, after researching this house does not have these things that you said people are so afraid to correct or speak up against a client, and it it might help you to go back to remember be the boss, the episode that we have about being the boss of the transaction. They have hired you, and you don’t want to go into the dentist and tell them what to do to your mouth. Okay, I I’m like, You’re the dentist. Just fix, fix what I have going on. What if the dentist was like, Well, what do you want me to do? Right? Do you want me to, like, pull it out. Do you I’d be like, I want you to tell me, like, I’m afraid this is a big decision. You tell me, I need you to be confident. And if you’re not confident, you may lose some clients because they feel you do. They don’t feel comfortable that you know your stuff enough. Yeah, I
Katy 23:57
have a tactical tip for feeling confident, like, do you guide the conversation, or do you let them so for instance, if you’re going into a buyer consult or a listing presentation, are you giving a presentation and then letting them speak, or are you letting them ask you questions up front? It’s easier to do your presentation and answer everything that you think is going to be a question before they start catching you off guard, I’ll say, and it just it will give you, it’s going to give you the confidence, and it’s going to portray confidence, because you’re telling them what the situation is. Oh, wait, Misty says she worked in the dental field for 20 years, and people still try to tell the Do I have two more scripts. Ish, if you want for commission concerns, I can assure you, I will work very hard to earn my entire commission. Like, Well, do you discount Well, I can assure you, I will work very hard to earn my entire commission. And my last one was, there are a few discount brokers out there, and I understand if you need to interview one. I only know how to provide full service, so I have to charge accordingly. Yeah, that’s beautiful. And then they’ll be like, well, I want full service, right? Or maybe they won’t, and it’s okay. Oh yeah, Julie, absolutely always do your presentation first, and always make sure that your CMA, like going over the Market Report and a seller net sheet, or any numbers talk is at the very end. Never start with that, or lead with that, or let them ask that. And if they do ask that, I always say, Well, hold, we’re going to get through this, and then I will cover that. Don’t worry. We’re going to get to that. But if you start with that, they’ll tune out everything else. They won’t listen to what your services are. They won’t listen to like any of your philosophies for listing. They won’t even listen to any of the listing advice you’re going to give them, so you definitely need to guide that ship. Are you ready to move on? Yeah? Real quick. Yes. Karen, I
Alissa 25:50
recently, we were negotiating a roof, and I was the listing agent, same, same situation I just mentioned, and the buyer’s agent who is panicking over the sale falling through and just an emotional wreck. Also was dealing with her buyer’s difficult father. So dad was involved trying to run the show. Agent didn’t feel confident enough to tell dad he was actually incorrect on some things. For example, we agreed to have the roof replaced, and dad kept saying, make sure it’s architectural shingle and not laminate. And I made it laminated. And I’m, like, so confused, because this is like the roofer that’s done, and there he’s like, all the the buyer’s dad thought that laminated shingles were only three tab like composition shingle, not overlaid architectural. And I’m telling the buyer’s agent, like, what he say, it is architectural but, and she’s like, but the packet says laminated. It’s literally, the full description of these shingles is laminated architectural shingle. That’s,
Katy 27:01
if you Google it, that’s what it says, laminated and architectural are the same shingle. It’s the same thing. And
Alissa 27:07
the agent was like, I’m so intimidated by this Dad, I don’t even know what to I said, You just tell him I think you’re mistaken. Let me show you this article about shingles. And if you want to talk to the roofer, here’s the roofers number, but you have to speak up because the deal was falling apart because and she was devastated over a miscommunication, over a miscommunication that she felt, you know below being able to correct when you really just have to say, Hey, I think you’re mistaken. Let me send you this article. It is going to be an architect to say,
Katy 27:43
can you tell me what the difference is? Because I’m not when I’m looking it up, laminated is architectural. So if you could describe to me what the difference is, then I’ll be sure you get the right shingle. He’s probably describing something else and using the wrong word.
Alissa 27:57
I would also just like to end by saying that I feel like my most difficult clients have made me as good as I am today. Yeah, like, I love a good obstacle at this point, right? It’s those closing tables where I had to earn my full commission by being the one to overcome the obstacle that brought the value. But if you’re not confident enough to problem solve, give guidance and direction, bring the value, then you’re you may not even make it to the closing table. So some of it is just experience related, but making sure that you find your voice in the transaction and go back and listen to be the boss to get some inspiration. Yeah,
Katy 28:41
be the boss. Be the boss. Okay, oh, we’re on a situation. Okay, I’m
Alissa 28:44
gonna read this one. Okay. I have a house listed for sale. Great House, great location. The problem is the seller overdosed and died in the home the prostitutes he was with at that time took advantage of the situation and squatted there for a few days with the body. I just still can’t believe this is a real thing, real thing. All of this was well documented in a news article with the address, with the address and a photo of the house. Lots of offers were made, only for them to quickly cancel because they Googled the address and found the article.
Katy 29:24
I would love to hear the advice on this one.
Alissa 29:29
Okay, well, to
Katy 29:30
be fair, they just closed the door of the room where this they just were deceased,
Alissa 29:34
died, and they just closed the door and was like, we have a free house to ourselves. Let’s go eat the food and eat
Katy 29:42
refrigerators to follow up. Were they arrested? Were the were, were these people who stayed in the house arrested?
Alissa 29:47
Um, it’s, it’s, it’s being investigated. Okay, they’ll this was my listing. New news flash.
Katy 29:56
Oh, Janice says I’ve done a lot of estate, but never came across this one. No kidding. Thing, the good news is, I
Alissa 30:01
wanted to share this one with you, because we went through five contracts and they would cancel before even having inspections. And so I finally, you know, we were trying in our Louisiana market, you don’t have to disclose death in a house psychological defect. Yeah, no, no, but the news article was disclosing it for you. Very much. So, very much. So, so, um, what I started doing was telling people up front on the phone, um, Janice, it had we were also on a time frame to get this house sold, so we couldn’t wait. Yeah, tell me about it. So, um, so what we did was, when I had a showing, as soon as they finished the showing, oh, afterwards I wanted them to see the house fair, I called them and I said, Listen, I just want to be honest with you, this house did have a traumatic event that happened inside of it. We have been under contract a few times, and they have canceled. So we need a buyer that this doesn’t bother right? This is an excellent deal for this house, and if the house wasn’t, if that hadn’t happened, the price would be so much higher. So this is an opportunity for someone to be in this area on this size lot at this price. So we’re gonna it’s gonna take a special buyer that doesn’t mind that. So I’m just gonna have to be like, upfront with you. You need to share the article with your client before they make an offer. Because it was a cute house like people were writing offers. I’m like, You need to share the article with your client and make sure that it doesn’t bother them, because I do not want another cancelation. I don’t want to go pending just to put it back active. So I just became very upfront with people and then guide the conversation. Yeah, I just tried to be the boss and not like, swirl around it and be like, no nothing to see here. It’s just got beautiful oak trees. Like, don’t worry about anything else. I just wanted to address it up front and say, This is the reality of the situation. It’s a good deal because this happened. Yeah, if that’s okay with you, then you can buy the house. If it’s not, you need to continue looking and not waste our time off the market. And then what do you know? This family came along. They were like, it’s fine, and I told them. And the agent was like, wow, that’s, that’s, that’s a lot. I didn’t, I don’t even tell them what happened. I
Katy 32:29
just read the article. I
Alissa 32:30
said, I’m just gonna send you the article and you may do with it what you may and he was like, wow, that’s, it’s pretty bad. I’m like, yeah, he goes, they could get, like, a really good deal on this health. And I was like, they can if they’re okay with this. This is why it has gone on and off the market, because I keep getting cancelations. So he called me back, and he was like, my buyers are excited. They don’t even care. Like, this is a great price. And so we made it to the closing table, and it took me, like, four or five phone calls to make, and it did bother some people, but at least I knew that, and they didn’t waste their time, you know, writing an offer. And it was so funny, because when the appraiser went, he called me, and he was like, Alyssa, why is his house so cheap?
Katy 33:11
Well, there you go. Did you tell them? I said article, and I’m going to
Alissa 33:15
send you an article when we get off the phone. He was like, Oh, Lord. And so the appraiser actually told me, once it closes, which I did to put in the remarks appraisers, this home had a event in the home that was published in the news that calls the house to be discounted. There were no defects with the home, but because of this event, the price was discounted. Please call me for further information if you’re using this house as a comp so that way it didn’t affect the other great neighborhood that it was in. Okay,
Katy 33:46
great, we’re gonna move on. Whoa to number five. I’ve made mistakes. I’ve made mistakes. My struggle right now with staying on target. I struggle with ADHD and organizing all the system strategies to stay productive while also not spending too much time on stuff I’ve made mistakes, purchasing leads that not only cost me money, but time stress and clutter, paying for coaching that I could have gotten from the right mentor, taking countless classes that seem to leave me feeling less than adequate at being an agent. How do you tune out all the noise and stay on track with quality systems, quality day to day task and productive task, what you got, Alyssa,
Alissa 34:24
you must keep it simple, so simple the clutter will distract you from all the good things within your business. I like how you say, like, do not buy or invest in another thing until you have used and utilized everything that you already have.
Katy 34:44
Michael said, therapy and meds. Yes, yeah, I feel like this. And yes, so many of us feel this. I think this. Any one of us could read this and be like, I’ve made mistakes too. Yes. Classify what work is income producing. I. Make that work. Make it be your priority. Try to figure out what time of day you’re most productive. I am not the most productive straight away. In the morning, not gonna happen somewhere around 10am pretty good, and then, sadly, somewhere between three and 7pm I don’t know, it’s just who I am. But try to figure out what those income producing activities are. And tune out your noise, keep your head down and just stay in your lane and focus on a small amount of work, like work for one hour, instead of trying to be like, I’m gonna have a whole office day, like one good hour is better than eight hours that you keep getting distracted.
Alissa 35:32
I love how Melissa said I’m guilty of falling for the whole buying leads thing. I keep thinking it will be different this time, but it never, it never is. I know I think it’s just really looking at so when I think that the reason I don’t spend money on things in my business is because I couldn’t for so long, but then I became successful during the time that I couldn’t spend money like I became, you know, Successful in Real Estate by year three, and was like, getting awards and whatnot. And I did that all without buying anything. There was no pin with my name on it. There was no billboard. I wasn’t advertising anywhere. I was strictly doing anything that was free. If I got invited somewhere, I went, if I was part of something, I was involved in it, I did everything I could that was free because I have, I had to, and then it sort of just became my business model. I
Katy 36:34
think that’s really good advice. And I’ll have two other quick things, be be okay with letting things go like this. Didn’t work. I didn’t like it, and I’m just pretending like goodbye this class. I don’t want to take it. It’s no longer part of what I’m going to spend any mental energy on. And the other thing would be give yourself deadlines. I work way better with a deadline, but there’s going to have to be something that holds you to it, like, did you tell someone you’re going to be somewhere or do something? But if you give yourself deadlines, then you will likely get more work
Alissa 37:02
done. Mm, hmm, I love that you said, like, if it’s not working, like, don’t feel like I have to finish this because I bought it. No, if you hate it and it’s draining, you don’t let it just count it a loss and move on to the next better thing,
Katy 37:17
because it’s already a loss and it’s cluttering your brain. Okay, moving right along. Molly says, I swear my millions are enrolling out a whole program just for how to real estate when you’re legit Molly, I would probably say, if we got everyone tested, somewhere in the 75 to 80% of realtors are definitely ADHD because they don’t have that risk fear, and it’s since it’s a commission based business, that’s why ADHD people tend and they’re not good at working for other people. In a lot of cases, it’s just a it’s a career suited for people with ADHD. So we’re surrounded by people with ADHD. So like, yes, you’re right. You probably could, but we’re trying to tell these people not to buy anything else, right? Okay, do
Alissa 38:04
trust issues. Trust Issues. I’ve done well so far this year, and my closings are in line with my goals. However, I have this looming dread that the floor is going to fall out and business will suddenly stop. I keep doing the activities that generate business, and I need to trust the process. I think the fear is coming from the frenzy of the changing events. Um, number one, someone’s
Katy 38:29
going to sell houses, even when it changes. Yes, well, I can, I can assure you, houses will still sell. They’re still going to sell. I let’s see what I would I’ve seen the crash, then a bunch of foreclosures and short sales that we had an oil spill, we had economy issues, and there was covid, interest rate spikes. There are still people that buy and sell in every we had a giant flood like literally, there are still people that buy and sell in every condition, in every condition, and they don’t want to do it alone, so worrying about those floor falling out, there’s still going to be someone that needs your your help. I promise. I
Alissa 39:07
would also like to say to case study number six that I’m proud of you during the covid years, you know 2020, through 2022, I saw a lot of my real estate friends, buying bigger homes for themselves, luxury vehicles, going on some pretty fantastic vacations, not looking down on any of that, by the way. But I was hoarding my money because I’m always have heard, you know, I started in 2011 and my dad was always like you just have to be smart and you just have to be a saver and a budgeter, because it is the roller coaster, and you had quick success Alyssa. So you need to prepare for that first tough market time where things aren’t selling. You need to have some sort of nest egg. So in a way, part of your problem. Is a positive. It’s a strength that a lot of people don’t have. Good for you for being able to continue doing the activities, because some people just stop everything. So, you know, keep some of those good habits while changing your mindset about why they’re bad.
Katy 40:17
There are some really good, Lucky girl affirmations. Do a little Google on that, and then my favorite, which you need, my mindset, not the market, determines my success. Yeah. Okay, let’s move on to number. Is it double oh seven? Double Oh, double oh seven. Don’t want to say, I told you, so I’m having a very hard time making sellers understand that when they overprice, it hurts them in the long run. How do you also tactfully remind them? You warn them, if they overpriced the home, it would sit longer and get lower offers.
Alissa 40:52
I like to say her my email below where I sent you comps three months ago, right before we listed the house with my suggested list price, where you said no, and I said this would happen per my email below here we are. I think that’s as tactfully and I think that goes to just like documenting. You know, anytime you have a conversation with a seller, shoot them an email after, per our conversation, the mark, the updated market analysis is below. This is where we are. And I think having those weekly check ins with your seller to say, these are the ones that went pending this week. These are the new ones on the market. We’re the fourth priced, highest priced house. Whatever you need to say. The problem is you don’t if you don’t communicate with them, then it’s a surprise.
Katy 41:45
Yeah, and I don’t think you need to remind them that you warn them like we don’t actually need to say, I told you this would happen. There’s no tactful way to say you were wrong. I was right. But I do think you can say I have a few things I jotted down. The market is telling us they are not interested at this price. Okay? The market is telling us, or you can try, unfortunately, the price we originally set missed the market, as I was afraid it would, if you really, really have to say that. But it doesn’t matter that you told them, and they said no, because it’s already too late. So what goods are going to do you if they admit you were right? None. Now you just have to fix the problem. Okay? And then I have this one that I usually say in the beginning, though, when they want to overprice it, because really, this is a problem that we need to try and cut off in the future before it happens. Right? If you don’t have showings, it is usually price based. If you have a lot of showings and no offers, it is usually condition based. And so giving them information on how the market behaves, not what you want them to do, is going to be the fuel you need to get them to do what you want. Yes, and these consultations that we’re having at our listing appointments are going to be so important if you can do a good listing consultation where you have the confidence to just explain what the market is, how things are going,
Alissa 43:03
you are going to have a much better relationship with that seller, and it will be easier to have those difficult conversations, because they won’t be surprised. Yes, okay, love it. We’re
Katy 43:15
moving on. We’re going to do this one quick situation study. C, okay. Karma is a, okay.
Alissa 43:22
I have a seller client who is an attorney. He’s nice enough, but doesn’t seem to respect realtors. I was preparing to list his house for around 650 he wasn’t quite ready to list. Several months later, while he’s preparing to list, I ended up bringing my own buyer, since it’s my buyer, he insists I only represent the buyer, and he would represent himself to save the money. Since it is several months later, I pulled new comps for the buyer and realized the house is now valued closer to 700,000 What should I do? What would y’all do? This is a what would you do? Because he’s still saying 650 because that’s what I told him months ago, right? I mean, he’s not your client. He’s not your client anymore. So, in fact, he insisted you would not represent Him. So as representing just the buyer, at this point here says, represent your client exactly. You can only represent yours. You too bad. So sad. You represent the buyer. You owe nothing to this seller anymore. So oh my god, so let’s move forward and get that buyer a good contract on their house. That’s right. Okay, that was
Katy 44:27
that was a fun one, though I like a little karma case study, 008 Lucy and
Alissa 44:32
the football, the constant near miss, or AKA, Lucy and the football. This has been happening with regularity. I get a phone call or a text saying, I want need to sell my house. This is my timeline. I call back and make an appointment, depending on the appointment day, not always the same day as I had no choice but to get another very part time job. The clients either ghost me or say, Oh, we’re not actually ready yet, and then they cancel our appointment. It. I stopped printing stuff because it’s just a waste. I’m starting to have a lot of trouble not taking it personally. Okay, you
Katy 45:07
say you rarely make same day appointments. I think most of us rarely make a same day listing appointment. Yeah,
Alissa 45:13
I kind of feel like this agent was blaming themselves. I kind of go right away. I
Katy 45:16
don’t go I’m not fast enough. They’re gonna change their mind either way. Yeah, I
Alissa 45:20
had a lady call me Monday, and was like, Can you come today? I said, No, but I have Thursday at noon, right? And guess when I’m going Thursday at noon? Yeah, they don’t. They don’t. They will wait. So that’s not the problem. You are not the problem because you of the day, you I will
Katy 45:35
tell you, historically, I have noticed sellers, it’s selling your house is a lot of work. They may call in a moment being like, I want a bigger house. And then all of a sudden they’re like, I’m not really ready to clean this place up, and I don’t really have to move. And so maybe it’s going to be several months before I really revisit this, or maybe something happened in their personal life. But it is not unusual for sellers to do this. I’ve had this happen like
Alissa 45:57
a lot, right? And I think too, whenever a house comes on the market that gets them excited, they Vamp up, but then they’re not ready in that they lose that house, so they Vamp down. They lose their motivation, yes, and so you’re right. You know, this week’s episode of the stories we tell ourselves. You know it’s not you, and if it is, you figure out where in this you could be, where you could improve. What’s
Katy 46:24
the follow up after that? Just because they go, do you check in two or three or four, six months later?
Alissa 46:30
I always like to make sure these people are set up on some sort of subdivision report from you. You could do that through RPR or any other like, our broker has a program for that, but even if you don’t have a special program that will send them a report, set yourself up to be notified of houses in their neighborhood, so that you get an email when something happens in their neighborhood, and that’s a reminder for you to say, Hey, I you know you weren’t quite ready yet, but I just saw this house came on The market. I sure hope they get what they’re asking. It would be a great comp. Use it as a way to check in with them with actual data, instead of just checking in just seeing if you wanted to make another appointment, like always, go back with some data or value. It’s
Katy 47:18
time for Ricky, Bobby,
Alissa 47:19
you’re not first. You’re left. You’re not first, you’re left. My biggest struggle
Katy 47:22
right now is winning business. Everyone seems to be holding their cards so close, and it’s difficult to get a read on clients. Everyone seems hard to convert. For some reason, it’s because the market, I think, is also a little bit scary for buyers and sellers. So maybe it’s not that they’re just wishy washy. They’re just like, they’re not sure if they want to enter the market currently, yes,
Alissa 47:43
I think it’s important to realize that the market that we’re in right now is causing a lot of uncertainty for everyone, sellers, buyers. Then we get in our head and tell us it’s us, because all of a sudden, everybody is unsure and not ready to pull the trigger on this decision. So it must be me, but maybe it’s not you. The market is causing this unsure behavior. Rates are volatile. Like, we
Katy 48:08
need a meme of, like, it’s the market and like an agent, it’s like, it’s not you, it’s me. Yes,
Alissa 48:12
Sydney, make us an idea. It’s
Katy 48:15
me. So I would look, you know, I like an affirmation. I convert leads easily to clients that close. Yeah, I convert leads easily to clients that close. That
Alissa 48:25
feels good, even hearing you say that. Oh, wonderful. All right, last case, friends,
Katy 48:30
our last one, you get what you pay for.
Alissa 48:33
I’m great with explaining my commission and what all it covers. I feel confident explaining my value and the need to offer compensation for a buyer’s agent. However, I have noticed in this market, we are seeing more clients wanting to talk you down on commission. I know the typical objection replies, but I’m wondering if you have any creative objection handling, or creative ways of making people think our commission, of our commission in a different way. I have a few clients here recently who were referred to me, so I really don’t want to lose them as a client. We can go back to whatever case
Katy 49:05
it was when I gave you some of those commission. Yes, if you want, oh, Holly, tell us the good response, the response.
Alissa 49:13
We’ll read it.
Katy 49:14
Holly’s going to share a response. But if you go in again, here’s a mindset hack. If you go into the appointment assuming all sellers are going to do this, then they’re going to do this, or you might say the words that lead them to do this, if you will. So be thinking they’re not going to do this, and then maybe you’ll have a chance. Okay, what Holly says? What experience do you have with buying and selling homes. Please
Alissa 49:41
tell me they say, well, not
Unknown Speaker 49:43
much.
Alissa 49:44
Not Not much, I guess, yeah, not much.
Katy 49:48
Like, you have a full time job, this
Alissa 49:49
is mine. Yes, that’s so good. I also had someone tell me, like, you know you’re usually not negotiating a big number. Mm. You’re usually negotiating like half a percent, right? You know, it’s not about, it’s
Katy 50:05
not, I don’t think I’m allowed for they right, barrels, bushels, I
Alissa 50:10
don’t know. It’s not about how many? No. Okay, okay, yeah, my point are,
Katy 50:16
we’re gonna finish Holly’s Okay, well, are you so Holly, basically the seller. The agent says, What experience do you have with buying and selling homes? They say, well, not much. Agent, okay, well, are you prepared to take care of blank and call blank? Where do you find Scripps?
Alissa 50:35
Oh, what do we Molly? We’re making these up in our head, in our little brains, that sold all those hundreds of houses. Yeah. Okay, so are you prepared to do all this stuff, etc, etc. Then what? Right? Well, you list all the stuff. Well, Holly’s getting there. Give her a second. We don’t have to screen share anymore. Yeah, we’re done. Oh,
Katy 50:52
wait no, there’s one more slide. Let me let you see the final slide before we just chat it up. Live there. It’s live therapy. That’s
Alissa 50:59
right. Mm, hmm. Can I Yeah, Holly. Holly’s like, this is too much. Let me just Yes, please tell us Holly. I’m
Katy 51:06
going to say, look, session one complete. It’s time to hear from Holly. Okay,
Speaker 1 51:10
sorry. I just was like, struggling to talk, because I think the key is, like, the tone that you’re saying it. So, because you don’t want to come off being like, real, How much experience do you have doing it? So it’s more
Alissa 51:22
like it for us, yeah?
Speaker 1 51:23
So they’re like, you know, I just don’t really think I want a paint agent. And you’re like, okay, yeah? Like, I totally get that. So what is your experience with buying and selling a home? And then they’re going to be like, Well, I don’t know. I don’t really have any it just doesn’t look that hard. Like, okay, yeah, sure. I totally understand, you know, why you might feel that way. Um, so do you have any experience with, like, setting a price? They’re gonna say no, because they don’t know. And you’re like, Okay, well, then, like, what about preparing for photos? And they’re, you know, basically, you’re just gonna have to very kindly point out, like, Hey, I have a lot of professional expertise in, like, this and this and this and this, but you, I think the part, the best part, is just when you’re like, Yeah, I’m totally open to, but, like, that’s your choice, right? But if you don’t actually want to do all these things, I would if you would love to pay a professional. And then the other thing I heard, the other example I heard that this person was giving was they’re like, you know, I really understand. I recently had a similar experience because, you know, my neighbors, like teenage kid wanted to, you know, do some yard work. So I was like, Yeah, sure, you know, it’ll be, you know, it’s really cheap. He wants to do it for not much. I normally have this professional lawn company come, but it’s fine, whatever. But, you know, I at the end of the day like the edging was crooked and there was, like, grass clippings everywhere. And you know, half the time he didn’t even show up on one week or whatever. So, you know, you can either go with this, which will certainly be a less expensive option, but if you want something that has like, the level of professionality that I’m going to offer, then, you know, I charge a professional rate because I am a professional so
Alissa 53:15
beautifully. Said
Katy 53:16
Holly, yeah, that was really good. I also, like Tara said, which part of my service would you like me to leave out?
Alissa 53:22
I’m always afraid they’re going to answer. Well,
Katy 53:24
fine, tell me which part you don’t want me to do, and then I’m going to default back to my other one, which was, I’m sorry, I only know how to provide full service. So maybe you’re going to do a hypothetical question.
Alissa 53:33
I didn’t care what your answer was. I don’t care
Katy 53:36
what your what, what, because what are they going to say? I don’t want you to negotiate repairs. I
Alissa 53:41
love telling sellers you might need to interview other agents. Yeah, like, I know that this is one of my favorites. Y’all are so nice. I understand that there are agents out there willing to reduce their commission, particularly those who are struggling. Unfortunately, I just I’m not that person for you. So you may need to interview other agents. You’re just like, I don’t,
Katy 54:00
I don’t buy, buy, buy. Okay, well, that would work, but you have to come at that pretty confidently. You have to mean it like. You can’t just fake it.
Alissa 54:10
I only use it when I mean it. I wouldn’t use it all the time.
Katy 54:13
For Sale By Owner, why pay a professional to get to negotiate against you? Amber, I
Alissa 54:18
don’t get it me either. For Sale By Owner. Like, am I saying that to like, the professional is bringing the buyer so the seller is now unrepresented. They’re they’re paying a buyer, yeah, yeah, yeah, that makes sense. That’s fair. That’s fair. I think that this is just a good reminder that the market is very tough right now for everyone, experienced agents, new agents, all across the board, all across the country, and mindset was so much of the struggle. You know, we can’t take these changes personally. We. Have to remember that it’s the professionals that that treat it like a job, a true career, that are going to thrive in this environment, the ones that are looking for loopholes or cowering down or just really being down on themselves, they’re going to have the hardest time. Agreed,
Katy 55:16
this is our whole hour. That was great. That was great. If anyone has a concern or something else they’d like to talk about, please feel free to drop it in the Facebook group. We would love to do another round of this, but I think that’s all we have time for today. Friends, the
Alissa 55:32
case studies were excellent.
Katy 55:33
They were so helpful. Thank you for sharing your stories. It really, it really gave us some sense of what’s going on too in your markets as well as ours. Yeah, we
Alissa 55:42
were surprised how similar the emails were. Yes, you’re not alone. You’re
Katy 55:46
not alone. We’re here with you, right next to you. Deep breaths. Tell Molly to take her deep ending breath. Okay, everyone was so happy. Okay, goodbye. Everyone
Alissa 55:54
to smell the flowers and blow out the birthday candle. Smell the flowers and blow out the birthday.
Katy 56:03
We’ll leave you with that. Yeah, bye, Goodbye, friends.
Speaker 2 56:06
Hi. I’m Jennifer Hayes, your North Shore lifestyle expert. I am from Mandeville, Louisiana, and I’m toasting the Women’s Council of realtors. Safe Tammany, so excited. We’ve had a great 2023 and I want to wish the new leadership of 2024 all the best. Thank
Alissa 56:26
you so much for tuning in to the hustle humbly podcast. If you enjoyed
Katy 56:29
this episode, please go to rate this podcast.com/hustle, humbly, and leave us a review or drop a comment if you’re listening on Spotify. If you
Alissa 56:37
have an episode topic or someone you’d like to toast on the show, please email us at team at hustle humbly podcast.com, find
Katy 56:44
us on social media at hustle humbly podcast, don’t forget to find all of the free resources at hustle humbly podcast.com/resources,
Alissa 56:52
see you next week. You.
