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P031 - How Nick Kerley grew his business from $0 to $24M in 5 years. Amazing!...
Manage episode 236066311 series 2328612
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Watch the live interview below
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[00:00:22] Hi I'm Beatty Carmichael and welcome to the get sellers calling you podcast and I'm excited today to interview just a really neat and top producing real turd named Nick Kerley out of Redding California. So Next say hello.
[00:00:40] Hey Beatty how you doing today.
[00:00:42] Well I am doing super and I appreciate your time today. I know you are busy. And for those who don't know you written it is actually a client of ours and he does have he has a really unique business model that he's been doing. He's had tremendous market share with it. Very entrepreneurial. And so I just wanted to go through a little bit of your story and what you're doing. And have you share with the folks out there maybe some things that they can tap into and try to drive on too. So thanks for your time today.
[00:01:18] No problem. Thank you. Glad to be here.
[00:01:20] Yeah. So just a reminder also this is an Internet call.
[00:01:24] So just please excuse any internet type of interruptions. But Nick real quickly before we get fully started I'd love just to hear a little bit about your real estate career and you're mentioning as you move to Redding you only knew two people and the story of how you got started. I just want to kind of have you share that with people real quick can you. First off before we do that tell me tell us first where you are right now so people understand. Because I think you mentioned you have a big company. You have a lot of agents your brokerage kind of. Who are you right now and then we'll talk about how you got there.
[00:01:59] Oh sure. All right. So we're a real estate broker. I'm going to California real estate broker I have a team of agents that that work here. We're an independent company and we last year we did about twenty four twenty five million in transaction volume that equated to about 60 transactions sides. That was myself another agent and a full time transaction coordinator. We we are probably the number three or four agent in our chefs the board of MLS. And we we have a system everything here is systematized from from the sharpening of the pencil to the to the handing over of the keys. So it's it's it's definitely a full system operation.
[00:02:50] Well does I think is the thing that's been so impressive because when you and I started working you had your whole system built out.
[00:02:57] So I want to get there in just a moment but tell us how you got started you were just mentioning before we started the recording showing up and writing and all you knew to people and now a few years later you're just a song you know got this great powerful business going so tell us how what happened on that.
[00:03:15] Well we I've been in real estate since 2002 for so just over 17 years. I was from Southern California and the rat race of Southern California and and the wife and kids. When that starts to hate your life you start to wonder where you want to where you want to end up and where you raise those kids. So Redding is a beautiful town. We're surrounded by mountains where our backyard is Lake Shasta. We have Mount Shasta behind that. It's just an absolutely beautiful place if you ever have an opportunity to come visit here. If you're an outdoors person you you can never get tired or bored. So it was a perfect spot to land my broker at the time actually lived here with his feet on say and I knew both of them because they were originally from the same local town in southern California came up to visit them fell in love with the town way back down put in my 30 day notice and moved up pretty much 30 days later. So when I got here though I didn't know anybody and if you know real estate it's less about what you know and it's more about who you know. The good thing was is that I had the experience I knew how to run a transaction I knew how to write and offer. So on and so forth but I didn't know any people. I literally went out and doorknocked. I picked the neighborhood. I said I picked the only way I picked it was I said to myself I would like to live here. This was it this was a pretty neighborhood and I just started knocking on the doors. Luckily I didn't get shot or ran off. I had an excellent coach my former broker and been in the business for thirty five years was a top producer so he helped me out with getting some things going. Some marketing pieces but that's that's basically how I got started here and Redding was just door knocking and giving everybody extraordinary service. And once that happened and the business started to snowball and get bigger and bigger.
[00:05:11] Now how long ago was that when you came to Redding.
[00:05:14] I came here in October of 2013 and I'm sorry.
[00:05:19] I was about five years.
[00:05:22] Yeah. Yeah. We're going we're going on the five years now. Every year I've grew my business. The first year I did eight transaction sides which is not bad if you're an agent just starting out but you know 15 years in the business you're kind of wondering what's going on. Two years after that I was doing 32 transaction sides by myself hired a transaction coordinator and went up to over 60.
[00:05:47] That's really amazing. And. And you found a niche and there in Redding that you really pushed into. Tell us a little bit about that.
[00:05:58] Yeah we. And this is this kind of bleeds to. How.
[00:06:01] How I met you Beatty but we do a lot of residential income properties a lot of apartment buildings the commercial side. I had a property management background down in southern California. So when I came up here it was very easy for me to fill right into it. I know that that niche I know that market I know how to sell that product. I know what buyers are looking for I know what sellers are looking for and I knew what to watch out for. So because I was new to town I exploited that and now we we sell probably 20 to 30 percent of the market share in an apartment buildings in the in the Shasta County area.
[00:06:40] Wow. That seems like a lie. I mean 20 to 30 percent is a lot anywhere you go. What what's your key. I mean how are you. I mean do you go meet the owners so you can get their business or how is it different from residential retail sales and what are you doing.
[00:06:57] Well you know direct mail is incredibly effective. When I got in the business in 2002 you'd go out to your mailbox and it would be like pulling out a phonebook because you had so much mail even in a couple of days. Then the Internet came along and email account came along and all of a sudden that mailbox the stack of stuff went lower and lower and lower. Fast forward now to two thousand and 19 and my wife goes sometimes to the mail every other day sometimes once a week. So what I'm getting at is the mailbox is a great place to share your business and that's what I started doing I started doing direct mail. I had excellent content for those apartment owners and apartment buyers and they they just started calling me. So Trent transfer that to the single family home business which we have a lot of success in but we also wanted to gain more market share but also it's a it's far more competitive. There's a lot more agents that are involved in single family homes than there are an apartment. So that's why I knew that direct mail was a 100 percent success. I believed in it wholeheartedly. I just wanted to not reinvent the wheel when it came to the content and what it was that got the homeowner to call me. And that's where I found your company and found you guys.
[00:08:17] Hi I'm glad that you're here. I'd like to go in that direction. I'm not really I'm not trying to make this a pitch for what we do but I would love just from your perspective so you built a business with the residential income properties and you built it off with direct mail and now you whining and you've got 20 to 30 percent market share there. So now you're wanting to build a second income with your single family homes. So tell me a little bit about what you know how and how did you find us and and what you're excited about with what we're doing for you.
[00:08:54] Yeah that's a great question especially if you have any newer agents that are listening to this because when I first got into the business I must have signed up with every single program everybody that said that they can they can bring me business and all I had to do was one transaction that day for itself. So when it came time to find a marketing system I really go through the Internet you know referral talking to talking to people outside of my market to try to find what really worked. And I interviewed a lot of other I guess companies or services and you know a lot of people want to sell you the bells and whistles online and online is the place to go and a lot of people might have success there but my success stemmed from direct mail. So when I when I stumbled upon you guys and started doing my research before making that call I noticed that you guys were just as much of a proponent as of the direct mail as I was. It's important though to understand especially as a as an agent that direct mail is not instant gratification. It does not happen overnight. Sure you can send out your first postcard and you could get a call and that's fantastic but it's going to take some months of commitment and some repetitiveness in order to gain that reputation in the mailbox. But once you do do it and you stay consistent with it. E. Almost like it's like you push through the threshold and then and then it just compounds on itself and then the phone starts ringing for you rather than you constantly having to ring on the phone. So that's that's kind of the short story of how I kind of funneled down going through some other places that.
[00:10:41] That were that weren't really the same mentality that I had and found you guys very interesting.
[00:10:47] So now there are a lot of people that send out postcards now. You know we postcard is this for us. It's a delivery method to get content there and we use it as you know but we're not using it with you in your particular area.
[00:11:00] But we push that out through Facebook and we push it out through other forms. But what is it about us that caught your interest.
[00:11:09] Because I'm sure you looked at all kinds of other companies that do postcards but you weren't interested in whatever they did. What culture interest with what we did.
[00:11:19] It really is the content and the organization of how it's all put together and the science behind it really. I mean I'm the kind of person that when I'm selling a house I want to find out what or how buyers have previously found the house they bought. I want to I want to study that because those statistics are important. So then you know where to spend your marketing dollars. I mean if they if they found it on the dry driving by the house and seeing the sign you want to spend some money on your science you know you also want to be in other places like the Internet and postcards. But my point is is that when I came to you guys you guys had studied what worked and I found that so many other companies out there they were just using these bland postcards that really had no effect on the end user. And you guys were the opposite of that you scientifically if you will found out what the consumer is looking for what they want to know and what is going to compel them to to to call.
[00:12:20] That was also coupled with a technology that you guys have that must be proprietary because I've never seen it anywhere else. And and how it works on the back end. I had no concern. I never I didn't care how it worked. I just I cared that it did work. So once we started using that system and I've already used you guys as program we just got started in this. I'm already seeing that that technology that you have where the sellers basically raise their hand and tell you that you know they're thinking about selling it works. It's pretty cool.
[00:12:56] That's cool. Hey I want to share one other thing for the folks listening because you and I just finished doing an interview for your farm now your farm is like four or five thousand homes that we're targeting there.
[00:13:09] But talk to me just a little bit about the interview and just the whole process I just kind of bring people up to speed. So Nick and I just finished doing an interview where I'm asking him questions.
[00:13:25] He's responding as the realtor giving his homeowners in that farm an opportunity to meet him because the hardest part and breaking into a new market especially like a farm is them getting a chance to meet you.
[00:13:40] So talk to me a little bit and just what you what excites you about that video. Because I know you put a lot of effort in in preparing for it. We actually recut it again after you watch the first one. So give me an idea just what you see in it.
[00:13:54] Well you know it's great. I mean you know people these days they don't necessarily want to talk to the sales person until they have enough information to where they want to ask a question that becomes very difficult process for the salesperson of course because you know you're not going to be able to engage that seller until you meet with them so that you have that impasse there.
[00:14:16] How do you how do you bridge that gap. So working with you I thought it was a great idea. But but folks out there have to understand that even though I've been in the business this long I've never I've never demand one that does video. I kind of come from the old school of you know maybe like meeting somebody at an open house or doing door knocking. But in today's technology people are on the Internet they're watching videos and other agents are doing it.
[00:14:41] So even if you're uncomfortable about it I would say step out of that comfort zone. You know trust trust Fadi and his team with their system and go with it because it gave me an opportunity to do some answer some really great questions that a lot of sellers have before they decide to welcome you into their home and kind of establish that that ice break to where even if they only watch it for five minutes they still know that I'm a human being I'm the person and you know and it gives me that opportunity to to go to the next step which is hopefully an interview for the job.
[00:15:19] I love it. Hey if you don't mind I'd like to whine backwards just a little bit and go back to residential income stuff a little bit.
[00:15:29] I'm real curious about that because that seems like like a neat niche market that probably most agents don't go after. Do you find that it's a real competitive market or aren't non-competitive.
[00:15:44] It's that's a loaded question.
[00:15:45] I mean it's a it's a very competitive market. On the broker side with brokers that know what they're doing. You have to be careful in their residential income side because say for instance you have a four unit apartment building. Well that's one property but there's four doors in there there's four there's four many houses in there.
[00:16:05] So you have four inspections you have four tenants that you're working with. You know you have financing that you have to understand how it works taxes. You also have to understand the expenses and that kind of thing. So there's a lot of moving parts. So on the broker side there's not a large volume of agents that do it but the ones that do are very good. They're very skilled and they know what they're doing. So you have to have that same level of confidence and education in order to compete at that level. On the other side the buyer and the seller you know these are people that own income property and you have to have a usually a minimum 25 percent down in order to purchase them. So they're there they're of high wealth usually of high education and they expect a certain level of professionalism and they expect you to know what you're doing and you're going to have to be able to deliver on those on those expectations.
[00:17:01] So it is it is very competitive in that sense and the buyers are entrusting you to go out there and find them the right property. And if you don't do that they're definitely going to find somebody else for it. So go ahead. All right. That also being said if you are good and you and you do and you do know what you're doing. It's also not where a lot of other agents are. So in this day and age you're better at being a specialist at one or two things than trying to be great at a whole lot of things.
[00:17:36] I fully concur on that. And we used to offer services to our clients in all rare realms of different things. And I realized you can't you can't be a Master Ball.
[00:17:50] So narrow it down to where you can be a master of. How do you so. So the dynamics of this residential income is obviously it's not for every agent but for those who are intrigued with the idea. Can you give some some basic steps on what do you do or how do you get started. I love the fact that you're sharing it's lot more moving pieces so it's definitely a more process driven sale or transaction. Can you do just educate a little bit more on how you get started and what the opportunity is. Does that make sense. There's probably a lot of things along the way.
[00:18:30] You're listening to the get sellers calling you podcast to increase sales from past clients and sphere of influence or from a geographic farm.
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[00:18:49] And now back to the podcast.
[00:18:53] The best thing to do to get started is to start. Start small. I mean. Yes. I mean it as a real estate agent that makes money off of commissions. You may see an apartment building out there that's you know one million or 10 million dollars and say that's where I want to go but it's better off to start. Start off small you analyze a duplex analyze it try plex for plex analyze that property so you can educate yourself on exactly what the local laws are for your tenants and what leases and how the contract works. As far as selling those types of properties and if you start there and you know maybe you sell a duplex or a four plex then you go through that process you'll get confident just like you would order when you sold your first listing or your first house. After that you felt confidence so when you get there and you get the confidence and you also get the wherewithal of what it takes to process that transaction then then I would say start going to the next level and expanding your business. But most importantly what we do here is we advertise and celebrate every success.
[00:20:05] Success begets success. So once you make that sale it's really important to share with all the other property owners out there that owns those similar properties. What you've just done and explain to them how you got this property listed or how you brought that buyer and that you have more buyers or you have the potential to sell more or more properties once you start doing that and you get that side type of success that community out there that owns those properties will know will know you and know that success and it'll start to compound more business. But I definitely don't want to trade that this is an easy niche to get in. This took me years and years of work and education and hundreds of thousands of dollars. So at the end of it we have 20 to 30 percent market share today but that didn't happen overnight. It happened by starting small and celebrating every success with all of those those owners and then in turn providing the result. You can't take a listing and then not sell it and expect other people to to hire you.
[00:21:15] That makes a lot of sense. How does some appear to make a comparison between the residential income and the single family home. The marketing of it either the content or the delivery.
[00:21:27] What's the basic difference and what are you see as your big takeaway be no take over bring over from residential income to then push into the single family home.
[00:21:41] Well the marketing is a little bit different because the end user is it is a different person in a single family home. You're marketing a place where somebody is going to a buyer. You're marketing a place where somebody is going to have backyard barbecues they're going to have Christmas morning their Thanksgiving they're having friends over. It's in a very emotional place for them and they're you know they're going to make those memories there on the on the apartment side. You're you're marketing an income. I mean that is a second stream of income. It's an asset that grows wealth for the owner and also the maintenance that it takes to run it. So you're really you're on a on a more an emotional sale in a single family home and it's more a business sale on an apartment on apartments. Both of those combined in certain terms and ways. I mean there can be some emotion that's involved in apartments and there is also some business that's involved in single family but. But they are definitely different.
[00:22:40] And when marketing each one you can market them with the same vehicle like if it's direct mail but your message definitely has to be different. I mean you wouldn't want to tell the investor this is a great place to live in and it's amazing place to have barbecues you know they don't care. They're not likely not going to live there. So and vice versa. You wouldn't tell somebody who's moving in a single family home that it would make a great rental. I mean they're not planning on buying it to read it. They're buying to live there. So if that makes any sense.
[00:23:13] Yeah no that makes a lot of sense. I've got a crazy question now for you. What has been one of the worst things you've ever tried that failed. OK. Does that make sense. And because I want to find out what are you done that just actually doesn't work he said. Oh come on write that one off and then I want to find out what are the things you've done that absolutely work that you're going to stay focused on. I know postcards is one of them. But over here what's the point. What are the things that have failed the worst for you. Do you mind sharing. Oh sure.
[00:23:45] I mean you know I mean we've done you know we've done raffles before that we thought we were. You know you spend money on free T TV and you've done raffles thinking that you're going to get a bunch of people in also you know really to some Web sites I've spent money on Web sites thousands actually on Web sites thinking that that's going to drive people to my Web site and I'm going to get those leads. You really have to be careful when you're doing Web sites to make sure that your money is well spent there. Those types of things have been unsuccessful. I would say any marketing that is unprepared has been unsuccessful. Another thing that I've failed at and this is probably going to be a little bit hard for some agency here because there are some agents that have been extremely successful is the cold calling. I never was good at cold calling I'm not a good cold caller. I just it never really worked for me. So that's probably one of the ones that I feel the most that I didn't spend a lot of money on it but I spent a lot of time in and you know that's why we don't do it. I just it doesn't work for me. And when I found that it didn't work for me I moved away and found things I did.
[00:25:02] That's destiny. And is there anything besides the postcards that you found has been really good for you.
[00:25:10] You know believe it or not open houses on the residential side have been really successful for us but we don't do a standard open house where you know the seller says OK you can hold it up on Sunday and we start marketing it on Friday. We go back and you know at least a week to 10 days before and start marketing that open house. We incorporate the neighbors with invites. We do tons of signage flags balloons that kind of stuff. And in that that has been been really successful at open houses and got away from a little bit. They're starting to come back into popularity just because I think people will enjoy it. There are the looky loos out there but there are people that are going to look at open houses and they're serious about buying.
[00:25:57] So talk to me a little more about those open houses so you're marketing it to the neighborhood. Are you looking for neighbors who are thinking about selling to come look at the open house. Or are you looking for neighbors to tell their friends to drive buyers to it.
[00:26:13] Well both in any successful real estate business listings is the key. It just really is you can ask any top producer anywhere in the world at any point in time. Listings are the key. But without selling those listings you'll never be successful. So we're looking for both. We want to bring the neighbors in for two reasons. We want to meet them to exhibit the open house and to tell their friends and family. But we also want to hear about any future movie needs that they may have. So it's a it's two part in our marketing is in that as well.
[00:26:46] So when you when you do the one you do the open house. Can you give me some examples of things that are kind of a typical example of what you what you do in marketing it and then the typical example of what type of results are you getting out of it is it just selling it faster or are you picking up an extra listing or two for every open house that you that you did.
[00:27:09] Both first of all you've got to have a good house. I mean it's got to be in a good location. There ain't here. If you're you know at a 10 acre property four miles out of town on some backcountry road you're you're not gonna have success. So you've got to have some givens there so that the House has to be in a good location. We picked them for a good location. You know open houses and the marketing that we send out. We it depends on the time of season. But I mean I've had as many as no exaggeration over a hundred people at an open house before. Wow I get a subdivision a hundred. I mean it was so overwhelming we almost couldn't keep track. So what is it. It was a really cool house. A lot of people wanted to come see it. So that was a contributing factor. But realistically our open house is an average anywhere from 15 to 25 groups which if you're a realtor and you've been in the business for a while that's that's pretty good numbers to have. And again it reverts back to these are in subdivisions you know they're in good locations. and that's been really helpful.
[00:28:11] So those numbers go down as your home gets harder and harder to find. And if you don't prepare for it properly out of those open houses. If the House is price right I did an open house last year that the house was already sold before we had the open house. I mean because the house was so awesome but the open house created multiple offers those multiple offers did so well that I was able to advertise it to the neighbors and one of the neighbors was thinking about selling. He was so impressed with the open house we got the listing off of that. So those are the those are the things that makes them effective. The problem with open house in the negative connotation with it is is that most agents do them and they'll set up their sign and they'll sit in the house for two or three or four hours and the only one eats the cookies is them because no one comes by. They automatically check it off as a as an ineffective marketing tool. It doesn't work. It's only you know to appease the seller and I don't want to spend my four hours there just eating cookies. I eat enough already.
[00:29:17] So you know it's a marketing that drives the business there. That makes it work worthwhile. So what specifically you mentioned like rather than just you know you have open house on Sunday you don't wait till Friday to market.
[00:29:31] You're actually marketing a week or ten days earlier. Tell me what you're doing.
[00:29:36] Well first of all we get a list of all the neighbors that are at least within the mild two miles around the house radius and we mail them all a personal invitation. It's just on a postcard it doesn't have to be in an envelope. And we send him a postcard as a personal invitation that says you're cordially invited to our open house at 1 to 3 memory lane between 1 and 4 on Sunday. Please come on by and extend this invitation to any of your friends family and co-workers. There will be a lender on site if you have any mortgage questions along with a license realtors and we'll have some beverages. We'd love to see you. So we start out with that as an invite. We do the exact same thing with Facebook. We do a Facebook post on there. We boost that and sponsor that and explain that there's gonna be an open house. Please share that post and kind of reiterate what we said in the postcard. We also advertise it on Craigslist letting the open house know we change it in our local board our MLS allows us to notate WHEN AN OPEN HOUSE is coming up. Then what happens is this ad goes across Zillow realtor dot com all of those major national Web sites and it shows that there's gonna be an open house on that day. So then leading up to the open house day we're getting signage ready to go putting out as many signs as we possibly can. We put out flags directional signs balloons and and that really stacks the cards in our favor to have a successful open house.
[00:31:10] You know that's really as I'm hearing you talk. I'm going back to you're driving the business with a residential income properties. You're marketing that you're now marketing to four or five thousand home farm.
[00:31:26] And I say the same thing happening with your open houses. You don't just sit there and hope someone's going to come by. You're actually marketing it and pushing the content out to dry people there. Sure I don't know. I don't more agents do that.
[00:31:43] Well I mean I think you really want to get down to brass tacks. I think it's training. And in California you just have to pass a couple of courses and take a state test and then you get a real estate license. But that does not mean that literature doesn't explain anything on how to market yourself how to market a listing how to take a listing how to talk to a seller or a buyer to get them to want to work with you over the competition. So I think that many agents out there are poorly trained unfortunately. Secondly most people think that you have to have something else to do it for you like a computer especially all the more technologically we get the more these computers and suffered doing it for us good old fashioned shoe leather. We'll get you so far in this business. It's a people business and getting face to face will save you a lot of money. So I think that's what scares agents is they get into this business that you can be your own boss and be a small business owner without a whole lot of investment. But then again you may not have a whole lot of investment and you're worried about where to spend those dollars. So that's kind of for a new agent.
[00:32:54] The older agents you know maybe they just didn't plan their career accordingly the way that that we were trained or I was trained and learned is you have to invest in what you sell very in the real estate business. You should be buying real estate throughout your career. If you don't then you might be in this business for 35 40 years. Still driving people around in your car in which there's nothing wrong with that but it's probably the biggest pitfall for most agents and brokers is they forget that they they have to invest in what they're selling and sets set money aside for that too.
[00:33:33] So I hope that helps explain it. I mean for the new agent just get out there and use what your resources are which is your two legs in your mouth and and then talk to people whether it be through open houses or wherever a socially you can do that. And then you know for the seasoned agencies just don't forget to invest for your future.
[00:33:55] That's really brilliant. And I just love the aggressiveness not that you're an aggressive person but you take an aggressive stance to say I'm going to market this if I want to spend my time sitting there I want to make sure a lot of people coming in.
[00:34:08] Absolutely. Now do you are. So you're sending out a bunch of postcards. You're boosting post on Facebook and I know that's not all that expensive but you do have some costs involved. You mentioned that you have a lender usually there. Do you get the lender to pay for any of the cost as well. Yes.
[00:34:27] The lender will usually provide the refreshments. They'll also do a Facebook post on their personal Facebook site whatever it may be. They what I always ask them to do too is you know all of the buyers that you have that are pre-approved in this price range. Please send them out an email letting them know that you know you're partnering with us to do an open house. So yeah we get that we get the lenders involved as well. Whatever they want to do as far as marketing. Sometimes when we're doing the the invitations they'll ask if they can be on the invitation and then we just split the cost of the production and stay with with the lender and they get their picture on there and they're happy to do it. OK. You'll find lenders that will be happy to do it. Just make sure that you abide by all your local rest bylaws and all that stuff you were going to split it down the middle to make sense.
[00:35:25] So if I were to ask most agents on a scale of one to ten ten being highest where would you rate your success rate and effectiveness of an open house. Most agents I ask that to would probably say you know maybe about a two or three. If I were to ask you when you do your open house with all of that marketing behind it where would you rate that success loan where we're high.
[00:35:51] I mean I mean even a broken clock is right twice a day twice a day so sometimes you don't you strike out even with all that marketing but very rarely. I would say we're at an eight and nine and sometimes a 10. It just takes a lot of preparation. It really does. But they're effective and we get a lot of business that way. For me in my position I don't as much have the time to do it personally anymore but the agents that we're bringing on that are just getting started and wondering hey what's the fastest way that I can get a transaction or a client. And that's without spending you know thousands and thousands of dollars in marketing. And that's the effective way to do it.
[00:36:33] I love it. So in wrapping up is there anything if you could maybe give the top three things ok that you have found personally. That you know you know you got a seasoned agent out there listening to this or maybe an aggressive upcoming new one. But whether the top three things she would recommend someone do and why. To grow their business.
[00:36:56] Well the top two first thing is get away Get get rid of everything that's costing you money and not bringing you in clients. Find out what that is. Look in your business and see where you're spending money and not getting any return. Cut that out as soon as possible. And the second thing is is find out what you are doing successfully and do more of that. Do you do as much of that as you possibly can. And the third thing is it would be. Find out what you want to do and find like for instance. I know this isn't a commercial for you guys but I wanted to take my business to the next level with a certain amount of marketing. So I found a partner to partner with that was successful at doing that. That took a huge workload and time out of out of my my day. They took on that time and I partnered with them to do it. So getting back to the three I would say no one find out what's costing you money and not bringing you any money in return. Find out what you're good at and and do more of that or try to structure your system and business around doing more exploiting that. And three seemed where you want to go and partner with a coach or a marketing system that can get you there without you know that you trust that you trust can get you there not something that you're just throwing money at and seeing if it sticks.
[00:38:21] Now let me ask you one question on that because like I was talking to an agent recently he spent ten thousand dollars a year and this magazine that just goes out like once or twice a month.
[00:38:35] It's all the agents in the area advertises there. So he feels he needs to be there. But I was asking him how much money how many listings or anything. I don't know. So when you know a lot of times you have agents that are spending money. Your first criteria was find where you're spending money that's not producing and cut it out. How would you advise on if they're spending money but they don't know if it's producing or not.
[00:38:59] Well you you should definitely have a system.
[00:39:02] So if you're doing like a magazine like that every single call inbound call that you get. You really should say no. How did you hear about us and that way you can track that and that would that would start. That would be my suggestion otherwise you know for instance like the postcards that we send out with with your company it automatically tells us that they they got the postcard from us. So that's that's you know that's something the technology can help you track that a lot better. But we don't invest in any marketing that we can't track.
[00:39:38] You know I heard someplace and I think it's OK to walk through if you can't track it. It's not marketing you're spending money right. Yep. So you definitely got to track it.
[00:39:49] Well Nick thank you so much for your time is there anything else. Before we wrap up that you would like to share anything that hit your mind that oh I share a thought share this. Anything like that before you wrap it up.
[00:40:02] I think we covered it. It's a it's a it's a one man business or one person a small business. So I hope I didn't give out all of our secrets but I'd also hope that we gave some good content there for some people that are listening that it that it was helpful. So you know all I got to say is I really appreciate you having me on and and then allow me to do this with you and I hope that it was helpful for for everybody involved.
[00:40:30] Well thank you again Nick. And for those who are listening or watching if you do like this please describe to our podcast you'll actually find us on iTunes and deterring.
[00:40:41] And Google Play on the podcast if you're watching it on YouTube. Please like it. And you can subscribe there as well. Also check out our guest seller calling you dot Web site or Facebook page and like that. So you do want to learn more about what we do or about growing your business. You can learn more about us at get sellers calling you dot com. You'll see a tap at the top that says agent dominator that's actually the service we do to help people grow business. That's what we're doing with Nick. So Nick thank you again. And you have a blessed day.
[00:41:15] Thank you. Appreciate it Beatty too.
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[00:42:02] Have a great day.