The Real Estate Sessions

Description:

In this podcast episode, Bill Risser and Russell Shaw delve into the fascinating world of real estate and career success. They explore the evolution of Phoenix real estate, from a small town to a bustling metropolis. Shaw's unconventional career path from selling life insurance to comedy and then real estate is also discussed. The concept of "carte blanche" is explored, emphasizing the importance of freedom and authority in one's career. Effective communication skills are highlighted as crucial for success in the industry. The evolution of real estate advertising is examined, with an emphasis on understanding consumer needs. The significance of systems and replicable success is also discussed, with insights from expert Gary Keller. Building trust and treating clients with respect are emphasized, and valuable resources for homeowners and real estate professionals are mentioned.

Episode Outline:

(00:00:00) The Evolution of Phoenix Real Estate

(00:06:30) From Life Insurance to Comedy

(00:13:02) The Power of Carte Blanche

(00:20:07) The Importance of Communication in Real Estate

(00:26:28) The Evolution of Effective Real Estate Advertising

(00:33:35) Real Estate Success and Systems

(00:40:48) Building Trust in Real Estate

(00:47:36) No Hassle Listing

00:00:00 - Russell Shaw

Well, it would be the ability to talk to people. It would be the ability to communicate to people. And it would be like if I said, what's the most important part of intelligence? Let's take it that way. It would be to have some idea of what's going on with the other person.

00:00:24 - Bill Risser

You're listening to the Real Estate Sessions podcast. And I'm your host, Bill Risser, executive Vice President, Strategic Partnerships with RateMyAgent, a digital marketing platform designed to help great agents harness the power of verified reviews. For more information, head on over to Ratemyagent.com. Listen in as I interview industry leaders and get their stories and journeys to the world of real estate. Hi, everybody. Welcome to episode 360 of the Real Estate Sessions podcast. As always, thank you so much for tuning in. Thank you so much for telling a friend today I have a real treat for you. We are headed to Phoenix, Arizona, where we are going to be talking to one of the legends of Phoenix real estate, some might say The Godfather, just a huge figure in Phoenix real estate. I'm talking about Russell Shaw. Russell is with Realty, one group. When I first moved to Phoenix, he was bigger than life. You're going to see that as we get into the conversations. The phrase I'm applying for a job is something that if you were in Phoenix in the early two thousand s, you heard it over and over and over. Just an amazing guy. Let's get this thing started. Russ, welcome to the podcast.

00:01:34 - Russell Shaw

Thank you so much, Bill. I appreciate you having me on.

00:01:38 - Bill Risser

I've been remiss in waiting this long to have you on here. I just introduced you as the legend of Phoenix real estate and some of the great things you've done and the fact that I first moved to Phoenix in 2000 and my mornings were greeted just about every morning watching the news with I'm applying for a job. We're going to talk about that shortly, but first I'd like to start at the beginning.

00:02:06 - Russell Shaw

Sure.

00:02:06 - Bill Risser

Rush, you're a native phoenician. There are very few of you floating around.

00:02:10 - Russell Shaw

Well, yeah, I was born in Phoenix, lived in Phoenix all my life.

00:02:14 - Bill Risser

Let's talk about that. Let's talk about, first of all, some of the changes.

00:02:20 - Russell Shaw

Oh my God. Like when I was a little kid. Well, no, I'll give you a better example. There was a policeman killed, motorcycle patrolman killed. His name was Arthur Blum. The reason I remember this, it was over by the Bali High Motel off of Grand Avenue, and he had stopped somebody driving and he radios in and they shot him from the back of a campervan. At the time, it was the biggest manhunt in the state until they found those people.

00:02:56 - Bill Risser

Wow.

00:02:56 - Russell Shaw

There had never been anything in Arizona like it. What was interesting, fast forward now, if a cop gets killed, it doesn't even make the front page of the Arizona Republic. It's on the second section on B, one below the fold. I'm just giving you, for instance, we were a sleepy little town, and we didn't have the Black Canyon Freeway. I 17 had not. That was our first freeway. Phoenix was the only place in the country where truckers on I Ten drove down Van Buren because there was about 25 miles where they had to get off the freeway and drive on city streets. So I'm telling you. Van Buren think of, like, 16th street and van. The long haul truck drivers were coming across these city streets to get back on the freeway, and they were on city streets for about 25 miles. All that stuff. None of those things had happened yet. And Phoenix was this sleepy little town. The population of the city of Phoenix was around. It wasn't a million. It was more like about 700,000.

00:04:16 - Bill Risser

Wow.

00:04:17 - Russell Shaw

And now it's one of the biggest populated cities in the nation, period. I mean, without any modifier on it. The areas in the north, like the dreaming that was, like, out in the country, like, driving to what is now, say, 32nd street in Bell.

00:04:37 - Bill Risser

Sure.

00:04:37 - Russell Shaw

Those were all dirt roads. Those were dirt roads.

00:04:44 - Bill Risser

I can't even imagine, like, trying to get over towards East Mesa. I mean, I remember in 2000, you would drive on McDowell for 30 miles.

00:04:55 - Russell Shaw

Yes. Quite literally. So it's changed so dramatically. And the inflow of population. I remember one time I was at a realtor luncheon, and this really nice and very knowledgeable man from ADOT, Arizona, Department of Transportation, was there giving a talk, and he couldn't have been. I thought it was fascinating. He said they had surveyed people to find out what the citizens of Arizona, specifically Phoenix, hoped Phoenix would have. Like, what would we develop into? And the answer that everyone gave, we don't want to be like Los Angeles. What made that funny? Nobody. It never occurred to anyone to say, here's what we would like. They wanted to hear, here's what we don't want.

00:05:47 - Bill Risser

Right.

00:05:47 - Russell Shaw

And of course, that's exactly what occurred. Sprawl, right?

00:05:51 - Bill Risser

Yeah, exactly. 101, the 202, the 303, they're all out there, and everything happened, and now everything's all spread out. For those that know Phoenix, it was boy. I mean, if you got to North Scottsdale, to where the princess is now, there was nothing up there.

00:06:07 - Russell Shaw

Yeah, it was just desert, quite literally desert.

00:06:10 - Bill Risser

Yeah. That's cool. So, Russ, I want to find out kind of ultimately how my guests get to real estate, and we'll get there with you. But before we go there, tell me what 15 year old Russell is thinking about for a career. You're in high school. What's playing to your mind?

00:06:28 - Russell Shaw

I was routinely getting kicked out of high school by the time I was 15. Different numerous, numerous different high schools. I started at Central High. Got kicked out of Central. I'm trying to think I went to North High I went to a lot of different schools, phoenix Union, for a little while. But what was funny is I always thought, well, maybe someday I'll sell life insurance. I actually had this I don't know why I had that goal particularly. I knew this man my mom knew who seemed to be I think he did something with insurance. I didn't even know what kind, but he wore a suit, and he seemed successful looking to me. Whether he was or not, I don't know. But he was a nice guy, and I thought, well, I'll do what he does. When I was 15, I had become an amateur magician, and I had sort of intertwined, well, maybe I could use magic tricks to literally like, I was doing performances, I would charge $25 to do a show at some birthday party.

00:07:37 - Bill Risser

Wow, nice.

00:07:39 - Russell Shaw

Somehow I thought, well, maybe I could use magic tricks to get customers to want to talk to me.

00:07:46 - Bill Risser

Were you ever hanging out with Gene Urban at the time? I think you know Gene, right? He's a magician.

00:07:52 - Russell Shaw

No, I don't know. I know the name, but I don't know him. But it's funny, this was my plan, and I did get into the life insurance business. Yeah, you did. I was in it for five years. And what makes it funny is I became what's called a CLU chartered life underwriter, which is about the same level of education in terms of difficulty as a CPA. The test.

00:08:18 - Bill Risser

Sure.

00:08:18 - Russell Shaw

And what made it funny is I kept thinking, well, once I get that, I'll like the business better. I actually hated selling life insurance. I didn't dislike it. I hated it. And when I left, I had no idea that I would wind up in real estate. And when I did, it was just because I didn't know what else to do. I knew I didn't want to sell cars, and I couldn't bear the idea of going back to life insurance. And so I wound up as a realtor. And my first year actually, my first nine months, I wound up selling enough to make $87,000.

00:08:58 - Bill Risser

Wow.

00:09:01 - Russell Shaw

I found it in real estate, you could walk up to anyone randomly and say, I'm a realtor, they would immediately want to start talking to you about house prices and different houses they'd seen and this sort of thing. If you were sold life insurance and you said to someone, Hi, I sell life oh, God. They wanted to get away from you because part of well, part and this is not I'm not trying to be disrespectful to life insurance salespeople or it's not that I don't believe in that product. People shouldn't have it. But the whole sales pitch is basically getting someone to start visualize themselves dying and leaving their family broke. This is this isn't one of the things that life insurance salesmen do. It's the thing they have to do.

00:09:51 - Bill Risser

Right.

00:09:51 - Russell Shaw

And the sales trainers would literally say stuff like, no. When you're at the table, you've got to back up the hearse. You've got to get them seeing themselves in a coffin. Like, if you were trying to sell $100,000 policy back in the day, sure, you had to get that guy to start confronting. You died and she doesn't have any money. And that was what I hated doing. So I used to have this joke of, maybe I could come over and see you and talk about your death.

00:10:27 - Bill Risser

This works for me. Now when I think about how funny you are. Russ, you're doing stuff on social. We're going to talk about that, but let's start first with where you got to really have fun with comedy. I know you did a little bit of stand up, but you got into radio and you're doing this at the same time you're selling life insurance.

00:10:48 - Russell Shaw

Yes.

00:10:48 - Bill Risser

So my guess is you probably wrote some bits that you probably couldn't pull out in front of a customer.

00:10:53 - Russell Shaw

I'm just guessing that would be an understatement. I did commercials, and I was part of a couple of different comedy shows that were on the air, but I wrote commercials, and probably if I had to pick what became my claim to fame, there was a moving company in Mesa at Southern and Country Club named Lepla Moving and Storage. And KDKB's Am tower was in LePla's parking lot.

00:11:26 - Bill Risser

Nice.

00:11:27 - Russell Shaw

Henry Lepla, the owner and president of Lepla Moving Storage, had a right to have X number of 32nd spots run on the air in exchange for money that they weren't giving him to pay for. The parking lot was a trade out. So disc jockeys, when they got off the air, were having this sort of hot potato, like, okay, it's your turn. You make these spots, you write something to put it on, and nobody really wanted it. I mean, different people did it. I was already hanging around the station and doing different things and little jokes and stuff. Marty comes to me, and he sort of gave me my break, to tell you the truth. He goes, would you like to do the Lepla commercials? I go, sure. Well, since no one like, I wound up later functioning like a small ad agency as I got established because the Lepla commercials worked so well. Henry Lepla, first time ever, writes a letter to the station going, I don't know what you guys are doing. I've never listened to the station, but we're getting the phone to ring all the time. We've gotten more business in that actually when I started doing those commercials than they had in the previous years, and that continued. So the sales staff at KDKB realized this. What made it funny is then different advertisers wind up calling me and go, hey, could you do some commercials for us? So I wound up making a living doing commercials for other people. But with the Lepla commercial, they were supposed to be 32nd spots, I had complete carte blanche to say whatever I wanted. Some of them, I didn't even bother saying their name and the time where they were supposed to be 30 seconds. In radio today, if a spot is supposed to be a 30, it's between 29 and a half and 30.

00:13:39 - Bill Risser

Okay.

00:13:39 - Russell Shaw

Any difference in that? They're going to compress it that you are not going to have a spot that runs at 31 seconds. It's just not going to happen. That's true. Obviously on television as well. The timing is precise right, so I had the right to make them any length I wanted. Some of them were almost a minute long. Some of them were 7 seconds long. I did whatever the hell I wanted, and I made all the commercials about myself saying hi as though I were a celebrity. I wasn't endorsing them. It's like somebody like I was Bob Dylan or something like, here's the company I normally would use for moving if I were moving, I'm not know this kind of thing. So I got to write jokes and just put them on the air. And I became as well known as any of the disc jockeys who actually got paid by the station to be there. It was the most fantastic experience because I had complete carte blanche to do whatever I wanted, and there was no one saying, you can't say that here. If I wanted to make a joke about there's a store called Wilco Wilco or something, I can't remember their name, but it would be the equivalent of one of these big discount places, sam's Club or something. And I could say they're having a special this week on cocaine. I could say anything I wanted, and nobody was mad about it. And if somebody called the station complaining, the people there thought it was funny. So it wasn't like, oh, you can't say that on the air, right? I could say anything I wanted. And it was unbelievable, and it was an opportunity. It was years later, I did stand up, but it was initially and then I got on the comedy shows because of people that like a guy named Todd Carroll who later went to work for National Lampoon, and he later became a screenwriter. He wrote a couple of different shows, and I was on those shows with Todd. So that's how that all started.

00:15:55 - Bill Risser

Would you say you don't have that carte blanche anymore when you're coming to your social channels?

00:16:02 - Russell Shaw

No, I would. Oh, I do. I could care less at this point because I'm very political.

00:16:12 - Bill Risser

Your memes are hilarious. I think sometimes, Russ, you come right up to a line and sometimes you tip your toe over.

00:16:19 - Russell Shaw

Yeah, yeah.

00:16:20 - Bill Risser

You're okay with.

00:16:23 - Russell Shaw

Like it's it's my goal is not to offend. My goal is actually partially an educational like, I do a lot of posts of different philosophical type stuff, a tremendous amount which don't get the same kind of response as the funny memes or the funny jokes, but they're important to me.

00:16:55 - Bill Risser

Okay.

00:16:55 - Russell Shaw

Because it's like, do a lot to help other people, mostly agents, because I'm an opinion leader to most agents. But when someone's in trouble and they have their attention, it's sort of like what Tony Robbins does, only I'm not selling anything because usually what's holding someone back is a dumb idea. Like, literally, they have a goal of doing something, but their attention is fixated on this stupid thought that they're using to explain to themselves why they can't do the thing they really want to, kind of stuff where Tony Robbins has a gift, really, or an amazing skill of being able to spot that dumb idea. He can't teach it, by the way. Like, none of the Tony Robbins coaches can do it. Tony can't teach it because he doesn't have a technology. He just knows he can do it. He absolutely knows he can do it. And he's correct. He can do it. I've actually figured out exactly what he does, and I don't do the firewalk or any crap like that. I'm a Scientologist, and because of the stuff I've learned from Scientology, I'm able to, when I'm talking to someone, sort of see their dumb thought, and all I'm doing is getting them to see it doesn't belong to them. I'm just getting them to see, how does this align with your goals? Like, there's something you want. I want blah blah. Okay, let's put your attention on blah, blah. Not this reason, like whatever the crap is. And it's like an agent who loses a deal. I literally have dozens of agents who, when they get stuck, will sort of text me and sort of, can we talk? Sure. Basically what's happened is they've lost a deal or they've had a crummy customer or something that's given them a loss, and they've taken their attention completely off of, I want to be a successful, financially independent, prosperous agent. I'm just saying, making up those but that's essentially the kind of stuff most HR trying to a lot of agents.

00:19:25 - Bill Risser

That's what they want.

00:19:26 - Russell Shaw

Yeah, that's what they want. And instead, they have their attention on how can they stop bad customers from upsetting them? Well, there's a nice goal, because now your attention is fixated on stop right there. That's all you'd have to do to screw up your entire life is fixate on how can I stop blah blah. Because now you're pushing against it, which means you're going to have lots of it.

00:19:57 - Bill Risser

I can almost equate that Russ to, you know, the worst thing to think about on the golf course is don't hit it in the water.

00:20:04 - Russell Shaw

There you go.

00:20:05 - Bill Risser

What are you going to do? There you...

Eric Sachs, the President and co-founder of Breakthrough Broker, champions the significance of maintaining consistent contact with one's sphere of influence to stay top-of-mind for real estate opportunities. Under his leadership, Breakthrough Broker utilizes innovative AI technology and high-quality content to help real estate agents engage their networks effectively. Sachs believes that automated marketing tools are essential for agents to navigate market challenges and showcase their expertise, especially during uncertain times. By leveraging services like Breakthrough Plus, which offers automated marketing features and MLS integration, agents can remain competitive and secure more business opportunities even in a landscape increasingly dominated by large teams.

(00:01:17) "Network Nurturing for Real Estate Success"

(00:05:37) Navigating Market Dynamics in the Real Estate Industry

(00:08:11) Dominance of Larger Real Estate Teams

(00:12:58) Enhanced Real Estate Marketing with Breakthrough Plus

In the latest episode of 'The Real Estate Sessions' podcast, host Bill Risser sat down with Eric Sachs, the president and co-founder of Breakthrough Broker, to discuss real estate marketing strategies. The conversation revolved around maintaining contact with one's sphere of influence to secure business opportunities in the competitive real estate industry.

Eric highlighted the significance of staying top-of-mind for potential clients by consistently engaging with them. He shared a personal anecdote about his brother losing a major listing because he failed to keep in touch with a potential client. This emphasizes the need for agents to prioritize sphere marketing to ensure that they are the first point of contact for their network during significant life events.

Here are three key takeaways from the episode:

1. **Utilize Breakthrough Broker for Sphere Marketing**: Breakthrough Broker offers valuable resources for automated sphere marketing, providing agents with engaging content to stay connected with their network effortlessly.

2. **Adapt to the Increasing Dominance of Large Teams**: Eric discussed how the real estate industry is being dominated by large teams, challenging individual agents to prove their worth. Agents can navigate this competitive landscape more effectively by leveraging tools like Breakthrough Broker.

3. **Stay Connected to Secure Business Opportunities**: Eric emphasized the need for agents to prioritize staying in touch with their sphere of influence to avoid missing out on potential opportunities, as illustrated by his brother's experience.

In the episode, Eric posed a thought-provoking question to realtors, "What are you doing to make sure the people you know call you this summer when they have a life event?" This question encapsulates the essence of sphere marketing and the proactive approach agents need to take to ensure they are the go-to realtor for their network.

As Eric shared, Breakthrough Broker offers a comprehensive suite of tools for agents to streamline their marketing efforts and maintain consistent communication with their sphere. The standout among these is Breakthrough Plus, a tool that empowers agents with a range of features, including automated marketing, for a nominal fee of $107 per year. This reassures agents that they have a powerful and cost-effective solution at their disposal to enhance their marketing strategies and stay competitive in the industry.

In conclusion, the podcast episode shed light on the real estate industry's evolving dynamics and sphere marketing's pivotal role in agents' success. Agents can enhance their marketing strategies and cultivate lasting relationships with their clients by implementing Eric's insights and leveraging platforms like Breakthrough Broker.

Quotes

00:00:07) "What are you doing to make sure the people you know call you this summer when they have a life event?" - Eric Sachs" - Eric Sachs

(00:03:12) "We're working on trying to create the best content for agents in the world. That's where we're at." - Eric Sachs

(00:05:37) "My attention right now is on all the agents sitting on the sidelines. My attention is drawn to all the negative comments in the Facebook groups and the agents who are reacting to the settlement instead of trying to figure out how to get through it." - Eric Sachs" - Eric Sachs

(00:00:07) "What are you doing to make sure the people you know call you this summer when they have a life event?" - Eric Sachs

(00:14:17) "I'm so happy to be working with you again. You have no idea. Let's do this more often." - Eric Sachs" - Eric Sachs

Dani Vanderboegh, the Service Editor at Inman, is a dynamic force in real estate journalism, deftly managing content to make industry news accessible and valuable for readers. With nearly a decade of experience at Inman and a unique personal journey marked by resilience, she brings a distinctive perspective to her work, particularly through her contributions to the "Real Tea" project. Vanderboegh finds joy in exploring the intersection of real estate and reality TV, appreciating the lighter yet equally important topics this project allows her to discuss. She underscores the significance of creating engaging, trustworthy content and effectively promoting it on social media to establish a realtor's credibility and expertise.

Time Stamps

(00:00:14) Curating Practical Real Estate Insights for Readers

(00:09:23) Resilience and Triumph: Danny's Recovery Journey

(00:11:58) Achievements and Resilience: Life Beyond Limits

(00:13:28) Transformation from Archaeology to Journalism Success

(00:25:54) Real Estate Reporting Obligations

(00:29:36) Tailored Support: Local Associations in Real Estate

(00:32:15) TV Personalities in Real Estate Business Dynamics

Annette Anthony, the vice president of technology engagement for Exit Realty, is a seasoned expert with over 15 years in the real estate industry. Known for her hands-on approach and energetic demeanor, Annette is particularly passionate about video communication as a means to connect and build relationships. She believes that videos can convey emotions and messages more effectively than traditional communication methods, and she is dedicated to helping agents overcome their fear of video by providing guidance, accountability, and encouragement. Annette's focus on the personal touch and human connection in video communication underscores her commitment to empowering real estate professionals to engage confidently and authentically with their audiences.

Kurt Uhlir is a man of many talents with an extensive tech and entrepreneurship background and unconventional experiences in high-angle rescue operations, scuba diving, and stunt work. As he transitioned to real estate, he brought a wealth of knowledge and skills, such as spatial data analysis, website creation, gaming, and targeted advertising, giving him a unique approach to the industry. Uhlir's perspective on transitioning to real estate revolves around the idea that agents should see themselves as representatives of brokerage and independent business entities. He underscores the importance of agents owning their website, a central hub for their marketing efforts. Furthermore, he highlights the significance of maintaining a clean database of contacts and the value of past clients and referrals. His experiences have shaped his belief that agents should take control of their marketing strategies and prioritize building their personal brand in the real estate industry.

(00:01:47) Early Exposure to Tech through Family Involvement

(00:06:00) Alligator Handling and Stunt Experience Mirrored

(00:14:30) Revolutionizing Real Estate with Spatial Data Technology

(00:15:51) Standardizing Data for Real Estate Success

(00:20:30) "Real Estate Transition: Unique Marketing Insights"

(00:25:46) Modern Search Tools on Agent Websites

(00:35:14) Maximizing Agent Success Through Personal Websites

Transcript

00:00:00 - Bill Risser

Hi, everybody. Welcome to another Real Estate Sessions Rewind. This week we're going back to March of 2023 with marketing expert Kurt Uhlir, as well as some expertise in some other areas, which I'll save for the introduction. So enjoy.

00:00:15 - Kurt Uhlir

But if it's your business, do you have a site with technology that you control that that is the focal point for anything else that you do marketing wise, whether you're great with email and KVcore or follow up boss or you're wonderful on TikTok or social like, when those algorithms change, when Google spam filters change, have you trained your audience to come find you on kurtulur.com? And that's that second big thing, because then it doesn't matter where you choose to invest in marketing, you have a central hub that everything focuses back to.

00:00:47 - Bill Risser

You're listening to the real estate sessions, and I'm your host, Bill Risser. With nearly 25 years in the real estate business, I love to interview industry leaders, up and comers, and really anyone with a story to tell. It's the stories that led my guests to a career in the real estate world that drives me into my 9th year and nearly 400 episodes of the podcast. And now, I hope you enjoy the next journey. Hi, everybody. Welcome to episode 348 of the Real Estate Sessions podcast. As always, thank you so much for tuning in. Thank you so much for telling a friend. Today. We're going to have a lot of fun. Today we are talking to Kurt Uhlir. This guy did a lot of things prior to the world of real estate, including stuntman scuba rescue and high angle rescue. And he's a certified alligator handler. Yes. That's the first time I've ever mentioned that phrase on the real estate sessions podcast. So you want to listen in? Let's get this thing started. Kurt, welcome to the podcast.

00:01:45 - Kurt Uhlir

Hey, thanks for having me, Bill.

00:01:47 - Bill Risser

Well, look, most of my listeners know that I like to start at the beginning. I really, I am fascinated where people come from, how they got to be where they're at. And so the easiest way to start with that is, is your childhood. And I'm going to go, I'm going to ask you, looking at some of the things I could. In my research, I found out that it seems like you were preordained to have a life in tech and entrepreneurship. Let's talk about that. Your parents, I think your father was early on in this game, if you wanted to call it that. So let's talk about what role that your mom and dad played getting you.

00:02:21 - Kurt Uhlir

Yeah, my dad was. I'd say a glorified grunt at actually, Bell Labs used to be like the apple or Tesla of the day. And so I build my first hours thanks to him, when I was like eight or nine with Bell Labs. So I was really good at math, even very early on. And my dad was the person that would take all like, say, cell phones. Now somebody else came up with the whole network on schematics, and he would lead the teams to actually go build it in the field and so, and take what was on paper and make it, make it reality. And they'd had some problems and he happened to take me in an office and I solved something they'd been struggling with. And he was like, well, we pay people for this. So he built hours for it. So I got to be around some high techs very early on, but it was just also weird from a tech perspective. And I didn't think about it was growth takes time. And my dad is blessed with one of those people where he didn't sleep. And so, like, until he had cancer the third time, I think he slept an hour to an hour and a half a night. Then he started sleeping more like a normal person. And so between, he just put in more hours than anybody I'd ever seen. And my mom just had this country work ethic where, I mean, I remember, like, I mean, I did spend, we moved to Alabama when I was eleven. I mean, I still remember, I was probably like seven, maybe eight, in Michigan where we had cat outages when we lived in Chicago. And like, it's, it's late at night, late enough that the moon is way up in the sky. And I just remember telling my mom, like, when can we go to bed? Well, we were out, like, raking leaves for this like one acre, like, garden that she had. She's like, we'll go to sleep when we're done. Wow. That work ethic, I didn't even, I had no, there's no way I could ever go and pay for that kind of like, basically coaching and consulting that taught me, like, what it's like and exposure to both working hard and really just like, technology at an early age.

00:04:15 - Bill Risser

Yeah, I think that, that probably drives into the fact that when you attended school, you went to Vanderbilt, which very cool school, you were a track athlete, you loved running, and, which is, for me, that's, that's, I don't get that, but that's awesome for you. And, and I think you, you talked about the fact that, you know, being an athlete and having that discipline and all of the stuff that that takes, especially at a collegiate level, really primed you for what you're going to do in your life, you know, running companies and growing businesses and things. Let's talk about that.

00:04:47 - Kurt Uhlir

Yeah. I mean, even now, it's like, you know, if you want to ring my bell, if I'm hiring something, like, I love hiring athletes and healthy addicts, and, I mean, every, every athlete is a healthy addict. But I mean, to say that in terms of people that have had, like, true, like. Like, bad addictions but have overcome that, I mean, that's a huge kind of, like, that's a process into itself. But, I mean, as an athlete, it's like, there's nothing you could do, like, from a running perspective or pick any sport where you could make up for a week or three weeks of, like, screwing off by just going and make up practice in one day. And so, like, I was running, you know, 60, sometimes 120 miles a week, especially, like, in the summer when we're working on things. And it's like, you couldn't. You can't do all of that mileage, like, in one or two days. It has to be spread out. So it's small things done consistently, which is what it takes to be successful running companies. I mean, at the end of the day, it's perseverance that wins. Perseverance and operations. Like, everybody has good ideas. I mean, and good ideas and bad ideas. Like, they're the. They feel the exact same until you realize that a bad idea was bad and you shouldn't have been doing it for six months. But what matters is operations and just putting in the time you get out of school.

00:06:00 - Bill Risser

And I, first of all, you have the most varied background of anyone in the tech world that I've ever interviewed. And. And I'm probably, you know, this is episode 348, so there's a lot of people I've chatted with, but I'm going to throw some things out there, like stuntman, unbelievable, a certified alligator handler. And I live in Florida now, so that really is intriguing to me. And a member of something called high angle and scuba rescue teams. I get the scuba part right, especially with what I'm watching in California, where I grew up, there's a lot of rescue going on in water. But let's talk about, first of all, what's high angle rescue and then really, alligators?

00:06:41 - Kurt Uhlir

Yes. On both, it goes back to largely, I mean, to my dad as well. I mean, I picked up those genes where I do not need to sleep like most people. And so I'm in my mid forties. But, you know, when you only sleep two or 3 hours a night, you get more hours to do things. And so, like, when my wife and I got married, it was like, hey, do you want to go to. Do you want to go to go to bed with me or wake up with me? And I asked her that a couple weeks before we got married, and she was like, it took her a minute. She was like, you do email me at, like, 03:00 in the morning. And then, like, that was just like a mind shift for her. And I was like, so I get a little bit more time. But literally, I became a member of the Alabama state rescue squad in Marshall County, Alabama, at 14, shouldn't have been able to, but there was a bad ice storm, and in the county, there were four total people, my dad and me being two of them, that could drive on the snow and ice that we had. And so he got permission at the. At the state level for me to join the rescue squad. And I was using a suburban or, you know, an old jeep to help pull out Hummers from the National Guard that were off in the ditch. Between that kind of allowance and skills my dad had taught me when I was younger and maybe wasn't the wisest, but still taught. Learn scuba very early. High angle. Think about anything with cliffs, rappelling. I'm not really a rock climber, but I can go down and I'll do a lot of controlled risk, but you and I both do in work. And so I started that when I was 14, and so did that for many years, actually, even when I moved, after I moved up to Chicago, I'd still go down and join Alabama when there was different things that went on. So.

00:08:21 - Bill Risser

Wow. So how did Gators come into play? Come on, Kurt. I mean, seriously.

00:08:25 - Kurt Uhlir

Well, the stunt work, again, I don't sleep. And so Chicago was doing a lot of movies at the time, and I met a gentleman that I was out, and I was like, well, what do you do? And he was like, well, I'm a database programmer by day, but really, I'm a stuntman. Cause there wasn't a real full time movie industry in Chicago at that time and not enough for full time stunt people. And I was like, what does that look like? So I started hanging out with them and literally started training stuntmen and women and training with them. And so people for Batman's, you know, dark knight movies and public enemy and some others, and so friends that have a lot cooler experiences than me, but I took a friend with me to some of the training sessions that he hurt his back pretty bad, and so he needed an epidural. And so I went with him, took off work to go with him, because I'm like, well, I kind of broke you, so I'll go with you, Mike, to bring you back after you get the epidural to lower the inflammation. And as I'm sitting in this doctor's office for basically people with disposable income or time to do stupid stuff like us, I read, hey, there's only one place in the United States that you can legally go learn to handle alligators unless you work for a company for, like, six months full time, because Florida, Louisiana, like those legislators, because the animals are native there, they've done the wise thing. You have to go work for a company for, like, six months full time before they can let you touch an alligator over about this big, maybe, you know, 30 inches long without its mouth taped. And I was like, hey, you're supposed to be good in, like, a week or two, right? He's like, yeah. I was like, all right. I booked his flights to Colorado. And so Alamosa, actually, about 15 minutes north of Alamosa, Colorado, which is still the middle of nowhere Colorado, there's Colorado gators, and it's this animal sanctuary with on a geothermal spring, and that's where I first learned to kind of handle alligators. And so, like, there's 1100 alligators in the middle of nowhere, Colorado, that it's a tilapia farm. And so they literally fillet the top of tilapia. They brought in gators, like, decades ago to be the trash compactors for them. And it's just great business. All you do is insert labor, and you get money out the other side. And so that's where I first learned to do it. So anything up to about maybe an eight foot gator I can handle by myself. Wow.

00:10:37 - Bill Risser

All right. All right. So, yeah, that's never been said on this show before.

00:10:42 - Kurt Uhlir

You may just need to ask some people some questions. I'm sure some agents out there have that experience.

00:10:48 - Bill Risser

I'll have to. It's got to be someone that grew up in Louisiana or Florida, though, not. Not Chicago, and went to Denver. That's great. Well, let's talk about, really, some of your real early successes. When you got into the heavy into the space, there's a lot of things you played in. There's some gaming and website creation and that sort of thing. The spatial data, I mean, I think especially as important as that is today, which is unbelievably important in our world. You talk about targeted ads and all kinds of great stuff. Let's talk about how you got into that world. And maybe for those who don't know, we'll talk about real quick what it is and some of the things that it's being used for today that we wouldn't even think.

00:11:29 - Kurt Uhlir

Yeah, I mean, every one of us used spaceship aid in ways that, like, 20 years ago, nobody used it. And so I went to go work for. Didn't mean to, but I was meaning to go. I was looking for jobs with investment banks and kind of being that go between, between the IT programming side and the top leaders and those working in algorithms. And I got a call from a retained search firm that said, hey, look, we're looking for somebody to come work with. Denise Doyle and Saladin Khan at this little company at the time called Navigation Technologies became nav tech. Now it's called hear technologies. They're literally the spatial data. I mean, many people think about Google Maps, but Google Maps is nowhere near the largest provider of this stuff. We provided all that data. And so if you use, you know, like, I invented the core technology behind Waze, like the navigation apps. And so that IP has been licensed by Google and Apple and a bunch of others. But think about all the places where, like, spatial digital data. Like, every time you do a route from one place to another, or in real estate, we do. I want to search for homes within 2 miles or 20 minutes driving of this school. Like that. All YEet needs two d and three dimensional spatial data behind the scenes. And so I had ten and a half years at this company that we took from $85 million a year in revenue to $1.44 billion. And it was like, I mean, it was like being at McKinsey or Bain basically for ten years, being mentored by people. Like I mentioned, two of them. And then later by Jetson Green. He was the president of Disney theme parks and came kind of as his semi retirement to nav tech until he realized, like, there's a lot of money here. And we were just at that place where the rest of technology picked up. And he went from, like, navigation systems being like a $20,000 add on to, like, it being in your cell phone and doing mapquests for free. Like, I was there for all of that. And so I would walk out of a meeting from Siemens VDO that makes the navigation system for Lexus, and then walk into FedEx Logistics, which is using it for getting packages. And then I walk into my innovation teams where I had friends in the video game industry was like, well, like on the back shelf behind me. I mean, I know we're audio, but it's like, I've got Microsoft Flight Simulator X. Because I had this crazy idea to walk into Microsoft and say, hey, how about we save you $20 to $40 million in building your next flight simulator game? And they were like, let's have that conversation. That was like, literally like 08:00 a.m. At 09:00 a.m. And a 10:00 a.m. But we did that across, like, eleven industries for spatial data. And it was like I could have gone to Bain or McKinsey and may not, maybe not have had that same background.

00:14:03 - Bill Risser

Let's talk about in the real estate space how that's exploded over the last, let's call it ten years, RPR. RPR launched a while ago, and it struggled to get a foothold. I think it's a great tool. I think there's some great stuff in it. I'm guessing your stuff is in there because they do that 20 minutes from here or 2 miles to the office. That's one place. Agents are using spatial data daily if they're using RPR.

00:14:30 - Kurt Uhlir

Well, and there's tons of things like that. I mean, anytime that any, literally any search that you're. That you're just comparing, like, distance or time or anything. I mean, a lot of the applications like RPR might use the United States government's census tiger data, but that data is basically free because the government came to our company and paid us an exorbitant amount of multiple, multiple millions of dollars so that we would give them a snapshot of that data and so for their purposes. And so, like, they've kind of bought data to open source, but it's still not nearly as good as what you can kind of get on the private market. And now there's companies like Mat box and others that Google collects their own data. But, yeah, there's places like, anytime you do a home search, the listing alerts, we all get that come out. And then there's, you know, a ton of other things that we have on there, too. It's like, you know, there's applications that consumers or agents can go to that says, here's the seven homes I want to go look at. Give me the optimal route between those. And then you'll get. And then you'll schedule your times at those based on 1234 as opposed to crisscrossing across town. That's just some of the places that we see the data used.

00:15:41 - Bill Risser

Yeah. So it seems there's this natural connection between what you did in nav tech in here with MLS's, I would guess. I mean, data. It's data all over the place, right?

00:15:51 - Kurt Uhlir

Very much both because it involves spatial data. But like in 2019, RESO, the real estate standards organization, brought me and Scott Lockhart in to talk about kind of two things. One was Showcase IDX had been one of the first companies to start using web API at that time, which was meaningful for accessing the MLS data. But on the other side, like, my 15 to 20 minutes that I really talked about was really meant to scare MLS into why they need to work better together with Riso. And so the, one of the. Oh, one of the reasons that nav tech here technologies exist so well now is they take disparate data, just like real estate. And so we created this multi-billion dollar a year revenue product by going out to all the local municipalities, the states, the...

Craig Grant is a distinguished speaker who has expertise in the impact of artificial intelligence (AI) on the real estate sector, among other things. Grant's insights, which are specialized in fact-checking and legal compliance in AI-generated content, result from his nationwide exposure and participation in high-profile events such as the High-Tech and High-Touch Summit. Grant's perspective on AI's influence on real estate encompasses a transformative shift, believing it will revolutionize every facet of the industry, including communication, marketing, property search, and transaction processes. His unique viewpoint is shaped by his conviction that AI will give birth to a new era of super realtors leveraging AI tools for enhanced customer service and communication. He perceives AI as a game-changer that will streamline transaction processes, bolster security, and minimize human intervention in contracts and underwriting, making the entire real estate transaction more efficient and secure.

TIME STAMPS

(00:03:07) Risk Mitigation in Evolving Artificial Intelligence

(00:06:46) Tailored AI Platforms Enhancing Specific Tasks Functionality

(00:13:09) Ensuring Compliance in AI-Generated Realtor Content

(00:17:23) AI-Driven Video Creation and Editing Innovations

(00:22:27) Enhancing Real Estate Transactions with AI

ACTIONABLE INSIGHTS

- Implement safeguards to mitigate potential risks of AI technology

- Choose AI platforms tailored for specific tasks to enhance productivity

- Verify information pulled by AI databases before using it for marketing materials

- Utilize AI tools like Descript for video content creation and editing

- Leverage AI tools in real estate to streamline transactions and improve customer service

Alicia Berruti is a seasoned professional in the real estate industry, having spent more than eight years at Bomb Bomb before transitioning to Fidelity National Financial as the Director of Agent Engagement. Alicia believes the real estate industry has a substantial opportunity to rebuild consumer trust, especially in light of the ongoing commission lawsuits. Her perspective is shaped by her experience in the industry and the belief that real estate agents can demonstrate their value and protect consumers throughout the real estate process. This viewpoint suggests a proactive approach, with agents showing up stronger and emphasizing their professional value to regain trust rather than focusing on the negative aspects of the lawsuits. Alicia's experiences and her current role in fostering trust and transparency in real estate through innovative product design greatly contribute to her perspective.

In a recent episode of 'The Real Estate Sessions' podcast hosted by Bill Risser, Alicia Berruti shared insightful tips on rebuilding consumer trust in the real estate industry. Drawing from her experiences at Bomb Bomb, Alicia highlighted the significance of providing value and excellent service to clients to enhance industry relationships and trust. Here are three key takeaways from the episode:

1. **Show Your Value**: Alicia emphasized the importance of demonstrating value as a means to regain consumer trust amidst commission lawsuits. By showcasing the unique services and expertise agents bring to the table, they can establish credibility and rebuild confidence in the industry.

2. **Prioritize Relationships**: Alicia spoke about the lasting relationships she built within the real estate community, underscoring the value of connections in fostering trust and mutual respect. By nurturing professional relationships, agents can create a supportive network that benefits both clients and industry peers.

3. **Provide Tools and Resources**: Offering tools for home management and maintenance can be a valuable resource for potential buyers and sellers. By equipping clients with practical resources, agents not only add value to their services but also demonstrate a commitment to supporting clients beyond transactions.

Alicia encapsulated her perspective with a powerful quote, "Provide value and abundance will follow." This mantra underscores the principle that by prioritizing client needs and delivering exceptional service, agents can cultivate meaningful relationships, establish trust, and ultimately achieve success in the real estate industry.

Transition in the real estate industry, such as incorporating advanced technologies, is a fascinating topic that highlights the industry's adaptability and future prospects. Bill Risser, a veteran in the real estate industry, sees this transition as a testament to the industry's resilience and ability to evolve. Risser has weathered numerous changes in his 25 years of experience, including market crashes and booms and the recent shift towards virtual operations spurred by the 2020 pandemic. His career trajectory, from embracing new technologies like Zoom back in the day for training sessions to joining innovative startups like RateMyAgent, showcases his adaptable, forward-thinking approach to the industry. Now, as the VP/Regional Sales Enablement Manager at Fidelity National Financial, Risser continues to champion growth and success in real estate, demonstrating his unwavering commitment to the industry's evolution.

Sharran Srivatsaa, President of REAL Brokerage, LLC, is a distinguished real estate entrepreneur and advocate for employee ownership, who has a unique perspective shaped by his personal journey from India. His perspective on real estate entrepreneurship, mindset, and employee ownership is deeply rooted in the power of partnership and collaboration, as evidenced by his strong alignment with Tamir, the founder of REAL. Sharran believes in creating a career-based financial incentive system for agents, rather than solely focusing on sales, to foster a deeper bond between the company and its partners. This approach, he believes, can lead to long-term success and loyalty. His experiences and the influence of his extraordinary parents have shaped this perspective, making him a strong advocate for a coachable mindset and personal growth. Join Bill Risser and Sharran Srivaatsa on this episode of The Real Estate Sessions podcast to delve deeper into these insightful perspectives.

Guest Bio

Sharran Srivatsaa is a real estate entrepreneur and advocate for employee ownership, with a strong focus on mindset and personal growth. Born in India, Sharran's journey to success was not without its challenges. He faced ridicule and bullying, but he persevered and developed a coachable mindset. Sharran's willingness to learn and seek guidance has been instrumental in his achievements. He credits his extraordinary parents for shaping his exceptional outlook on life. With a deep appreciation for the effort and commitment required to succeed, Sharran is dedicated to sharing his knowledge and experiences with others, creating a positive impact in the world of real estate entrepreneurship.

Connect with Sharran

www.instagram.com/sharransrivatsaa

https://www.linkedin.com/in/sharran/

Business School Podcast

Time Stamped Outline

(00:00:00) Inside the Minds of Real Estate Leaders

(00:06:03) Sharran's journey from India to Wall Street

(00:13:52) The Power of Minimalism and Efficiency

(00:19:08) Business School: A Catalyst for Career Transformation

(00:23:57) The Power of Continuous Skill Development

(00:27:58) Transforming a Small Operation into a Thriving Empire

(00:34:00) ESOP Model: Sharing Rewards for Team Success

(00:38:06) Prioritizing and Achieving Greatness in Life

(00:42:52) The Transformative Power of Mindset

(00:47:50) REAL's Innovation in the Real Estate Industry

Detailed Outline

00:00:00 - Real Estate Sessions podcast

The Real Estate Sessions podcast, hosted by Bill, offers listeners an inside look into the world of real estate through interviews with industry leaders. In episode 370, Bill sits down with Sharran, the president of Real Brokerage LLC, to discuss his experiences and insights in the field. Sharran emphasizes the importance of mindset, stating that "the problem is not the problem, the problem is how you think about the problem." He also highlights the mission of REAL Brokerage LLC, which is to serve and work for their agents. The podcast provides a platform for industry professionals to share their stories and journeys, offering valuable insights and inspiration to listeners. With a focus on real estate leaders and their perspectives, the Real Estate Sessions podcast is a must-listen for anyone interested in the industry.

00:06:03 - Tennis career

Sharran's tennis career began at a young age when his parents saw his potential for a brighter future. Encouraged to pursue an individual sport, tennis became his path to success. He started lessons at 9 or 10 and his family prioritized supporting his journey to the pro tennis tour and leaving India. However, Sharran's dream of playing college tennis was shattered when he realized turning pro meant losing his eligibility. Undeterred, he decided to play Division III tennis and earned an academic scholarship at Luther College in Iowa. Despite challenges and cultural shock, Sharran's tennis career paved the way for his future endeavors, including working in the tennis industry and transitioning to Wall Street.

00:13:52 - Roger Federer's Biomechanical Efficiency

Roger Federer's biomechanical efficiency has captivated many, including Sharran Srivatsaa. Srivatsaa believes Federer is a true gift to tennis and attributes his success to his unmatched biomechanical efficiency. Unlike other top players, Federer's effort to result ratio is smooth and efficient, allowing him to play for over 20 years with minimal injuries. Srivatsaa sees a valuable lesson in Federer's approach, applying it to the business world. He emphasizes the importance of minimalism, simplicity, and efficiency in achieving success, encouraging individuals and teams to create a "not to do" list and focus on what truly matters. By eliminating unnecessary tasks and focusing on their goals, individuals can increase productivity and achieve success. In summary, Roger Federer's biomechanical efficiency serves as a powerful example of how minimalism and efficiency can lead to success in sports and business.

00:19:08 - Business School as a Track Shifter

Sharran, a successful entrepreneur and former Wall Street banker, shares how business school became a pivotal point in his career. After a successful exit from his startup, Sharran found himself unsure of his next steps. His mentor, who had previously doubted his chances of success, encouraged him to attend business school to gain deal structuring experience. Recognizing the opportunities and unique story that business school could provide, Sharran began searching for the right school. Ultimately, he chose a warm location with a feeder to Wall Street, setting the stage for his future success. Business school became the catalyst for Sharran's career transformation, allowing him to combine his technology and hospitality experience with deal structuring skills and pursue any path he desired.

00:23:57 - Meritocracy and Building Skills

Meritocracy and building skills are key factors in achieving success, as Sharran discovered during his time at Goldman Sachs. By constantly seeking to learn and improve, he was able to skyrocket his career by asking for guidance and mastering new skills. He emphasizes the difference between ability and capability, with the latter being the result of developing skills and expertise. Sharran believes that humility comes from recognizing the gap between ability and capability and actively working to bridge that gap through coaching and mentorship. He credits his success to the concept of meritocracy, where individuals who possess valuable skills have a competitive advantage that is difficult to take away. In summary, Sharran's experience highlights the importance of continuously building skills and expertise to thrive in a meritocratic environment.

00:27:58 - Scaling a Real Estate Business

Scaling a real estate business can be challenging, but Sharran shares his remarkable journey of transforming a small operation into a thriving empire. With a bold vision in mind, Sharran proposed taking the business from $300 million to $3 billion in just three to five years. Despite initial skepticism, Sharran's strategic plan and relentless dedication led to unprecedented growth. Under his leadership, the company expanded from one office and 30 agents to an impressive 22 offices and 700 agents. This achievement ultimately led to the successful sale of the business to Douglas Settlement, with annual sales reaching $5 billion. Sharran's secret to success lay in fostering a culture of performance, where agents were skilled and constantly honing their craft. By prioritizing skill development and creating a career-based financial incentive system, Sharran built a team that achieved outstanding results and fostered a deep sense of love and loyalty.

00:34:00 - ESOP Model and Employee Ownership

Sharran is a strong advocate for the ESOP model and employee ownership. He is committed to building a business that benefits everyone involved. His experience at Telus, where only a few partners profited while the agents who helped build the company received nothing, motivated him to prioritize the ESOP model. He believes that every individual who contributes to the business should share in the rewards, even if it means a minority share. Sharran also emphasizes the importance of aligning the business plan with potential buyers' models each year to ensure the company's valuation and readiness for acquisition. His ultimate goal is to transform a sales business into a career, offering financial incentives that foster love and loyalty among team members.

00:38:06 - Work-Life Balance

Sharran discusses work-life balance and shares his personal experience and strategies for maintaining it. He emphasizes the importance of prioritizing and doing fewer things to achieve greatness. Sharran avoids watching the news, sports, or engaging in activities that don't align with his priorities. Open communication with his family is crucial, ensuring their understanding and support for his work commitments. He also resonates with the phrase "be where your feet are," reminding him to be fully present. Sharran's insights offer valuable perspectives on work-life balance.

00:42:52 - Importance of mindset

In the realm of personal growth and success, Sharran sheds light on the significance of mindset. Drawing from personal experiences, he shares a valuable perspective on the power of having a bigger and better future. As a child, he initially dismissed his father's words, but as an adult, he now understands their profound meaning. Sharran also opens up about his struggles with undiagnosed ADHD and the societal stigma attached to it. Through his story, he emphasizes the importance of disclosure and how it can be disarming. In summary, Sharran's insights highlight the transformative impact of mindset and the need to be present in the moment, both personally and professionally.

00:47:50 - The rise of REAL

The rise of REAL is driven by their significant progress in building infrastructure and derisking their business. According to Sharran, it took them three years to expand into all 50 states and four major Canadian provinces. They consider what they have built so far as table stakes, the baseline required to run a successful business. However, they acknowledge that there is still more to be done. REAL is now focused on connecting consumers to the real estate transaction and reducing the pressure on agents by utilizing AI technology, such as their AI assistant called Leo. Additionally, they aim to transform real estate from a sales business into a career for agents, providing them with financial incentives and stability beyond just selling homes. In summary, REAL's rise is not just about their accomplishments, but about their ongoing efforts to innovate and improve the real estate industry.

Ron Shuffield is a respected figure in the business industry, recognized for his contributions as the founder of the Beacon Council and his leadership roles at the Chamber of Commerce and the Coral Gables Community Foundation. He views his career journey as a continuous learning experience, underlining the importance of mentorship, aligning with individuals of integrity, and the transformative power of personal growth within the industry. Shuffield's perspective has been shaped by his commitment to ethical business practices, such as trust, integrity, and longevity, and his belief in engaging in community roles. His guiding principle revolves around having respect and maintaining grounded values, ensuring that his team supports the company's core principles. Consequently, his approach highlights the importance of continuous learning, ethical conduct, and community involvement in building a long-lasting and successful career.

Transcript

00:00:00 - Bill Risser

Hi, everybody. Welcome to another real estate sessions rewind episode as I continue my spring break. This break is nearly finished, and we will soon be back.

00:00:08 - Ron Shuffield

I don't know if I ever asked for business. It just comes to us because our associates are very active in whatever they're doing in the community, too. When people come to work for us, I say, you know, get involved in something you like doing, something that benefits the community.

00:00:26 - Bill Risser

You're listening to the real estate sessions, and I'm your host, Bill Risser. With nearly 25 years in the real estate business, I love interview industry leaders, up and comers, and really anyone with a story to tell. It's the stories that led my guests to a career in the real estate world that drives me into my 9th year and nearly 400 episodes of the podcast. And now, I hope you enjoy the next journey. Hi, everybody. Welcome to episode 354 of the Real Estate Sessions podcast. Thank you so much for tuning in. Thank you so much for telling a friend, as I always say. And today we're going to have a lot of fun. I am talking to Ron Sheffield. Ron is the CEO and president of the Berkshire Hathaway Home Services EWM Realty operation in Miami. We'll say South Florida. I met Ron with our CEO when Michael Davey was out here traveling through Florida, just kind of getting a sense of the Florida market for an australian. It was unique to be able to experience that. Ron was kind enough to have lunch with us, and, boy, I could tell just how during that conversation, he was somebody I had to talk to. It's somebody's story I had to get. So I'm really excited to get this thing started. Ron, welcome to the podcast.

00:01:36 - Ron Shuffield

Yeah, thank you, Bill. It's good to be here. Yeah.

00:01:38 - Bill Risser

You know, you and I met about a month ago or so, maybe a little longer down in your neck of the woods, Coral Gables area. We had a really nice lunch with Nina Fabri from the Berkshire Hathaway Home Services company. Right?

00:01:50 - Ron Shuffield

Yes, absolutely. Absolutely. Fun day with you guys.

00:01:52 - Bill Risser

It was really fun to talk to you and learn about, really, the unique space that the Miami real estate market is. And we're going to talk more about that. But first, I always start the podcast with where everything started for Ron. Now, I'm pretty sure, uh, and most people probably could tell that that accent's probably not a south Florida native, right? So far, so good. Yeah.

00:02:16 - Ron Shuffield

I grew up in New York City.

00:02:19 - Bill Risser

So let's go with where you grew up and and how long. How long before you made the move down here?

00:02:25 - Ron Shuffield

Sure. Well, I grew up in Tennessee and still the fifth largest city in the state, Jackson, Tennessee, which is near Memphis, but certainly not a huge place, 50,000 people. So you got to know a lot of your family, knew everybody in town, sort of thing.

00:02:40 - Bill Risser

Yeah.

00:02:40 - Ron Shuffield

So I had a great growing up experience and high school experience, and then, like a lot of guys and kids from that area, we went over to Knoxville, which is 300 miles away, to go to school at the University of Tennessee. So I spent four years at the University of Tennessee and had a wonderful experience there and met, of course, people that are still friends of mine today that I've known for decades now. So it's a lot of fond memories looking back on that. But after college, you kind of want to not maybe go right back home. And so I moved to Florida, and I thought I'd stay for a few years, probably end up back in the south someplace. And so here I am all these years later, and, you know, met my wife down here and, you know, three kids and five grandkids later.

00:03:28 - Bill Risser

I'm not going anywhere, you know, Ron, I moved to Florida in 2017, knowing I was coming to the south. I was coming to SEC country, kinda. It's just north of us, up in Gainesville. But, man, it's a whole different world from growing up in San Diego and then moving to Phoenix, where college sports are just whatever. Boy, if I hear another SEC person tell me it just means more or it just matters more, there's a word. There's something that the SEC people love to say, but, um. But so you're. You're a volunteer through and through. Rocky top, the whole thing. It's nailin Stadium, right? It's just unbelievable, right? What's going on up there? But I've got some buddies who went to Florida, and they really don't like Tennessee. What happened there?

00:04:12 - Ron Shuffield

Well, you know, there's been a competition there for a long, long time, you know, and when I was in school, it was obviously, you know, very competitive at that point, too. I think we probably were a little friendlier toward each other when I was in college, you know, 40 years ago. But I tell you one memory I have, because we have a. We actually have a gator in my house, which is. That was a hard to. Hard thing to accept in the beginning. But our oldest daughter is a Florida graduate, and she had a great experience in Florida. But I remember going, this is probably her senior year, junior, senior year. We're up there for a ball game when Tennessee was playing in the swamp. And of course, you know, I was the only people, we were the only people there that any orange on where we were sitting because our daughter had gotten us the tickets. And so we're like, over in the middle of, I don't know, the alumni for Florida, I guess. And so our son at the time was probably, I don't know, he was maybe 15 or so, or even younger. He's by 13, and he's. He was all about Tennessee. So he had all this Tennessee wear on, and it was a cool day. So, fortunately, we had to have some jackets on. So I said, well, you know what? Until we see where we're sitting, let's just kind of, like, keep this jacket zipped up because these people can get kind of rough. And so we're, we're winning the game. We ended up winning that game that day. And so as, as it became clear that even though we had our arms all covered up with a jacket, we weren't shouting with any enthusiasm when Florida did anything right. And so this older lady behind us screamed out, she didn't understand why these people talking about us were ashamed of their colors. And so I told my son then, I said, okay, now after this next play, we're just going to quietly walk on down the aisle. We only had about two minutes left, and, of course, it was clear we were going to win. So, anyway, yes, there's a real competitive spirit between these two schools.

00:06:12 - Bill Risser

I love that. Well, look, eleven and two last year, I think, right? The balls are back. I know they went through a little rough patch, so you got to be excited. It's looking forward. I mean, your quarterback decided to go into the draft, right?

00:06:26 - Ron Shuffield

We've got going to have some new players there. But you know what? The coach. Coach seems great. You know, I don't know him. I knew some of those previous coaches, but he's great and everybody loves him up there.

00:06:37 - Bill Risser

I always wonder, was there someone in the real estate world as you were growing up that maybe kind of tilted you that way? Or was it something that came from another source?

00:06:49 - Ron Shuffield

Well, you know, my dad was in a retail business, and we transfer. He transferred. You know, every time he'd get transferred, every time he'd get promoted, we'd move to a new city. So. But most of them were in the south. So, you know, when I was really young, I mean, we were living in Texas, and then we lived in Kentucky, Louisiana. And anyway, I ended up in Tennessee. I say I'm from Tennessee, but I lived in some other places before that, but I moved there in middle school, and so, you know, that was certainly, you know, my early years. And so that's what I remember is really, you know, where I'm from and, you know, people I keep up with from high school are all obviously from that area. But when I graduated, my older brother had just started his law practice in Florida. He went to University of Miami law school. And so when I would come down for spring break or just vacations during college, those four years, I mean, I'd stay with my brother and his wife. And I thought, well, this really is a nice place down here. And so he said, man, you ought to come down here and just live here. So I thought, well, what would I do? And so one of his clients was a real estate developer. So I started out in the development side of things, and it wasn't brand new to me because as we were moving around quite a bit when I was growing up, we were always living in new subdivisions where they were building new homes. And so as I got into high school, I actually started working some construction summer jobs and working with a contractor who built our house. And so I just kind of started gaining an appreciation for how homes are built. And so even as a 15, 1617 year old kids, I mean, you start learning a lot about that. And I just was kind of attracted to that by the fact that we had moved a few times. And so I understood how all that worked. And then when I went to work with my brother's client and we were developing homes, that was a lot of fun. And then one thing kind of led to the next, and we bought the company we have now. At that time, it was Esslinger Wooten. Maxwell was founded by three women in the sixties, 64 to be exact. They opened our company in 1964. And then 20 years later, I had a partner by this time, and he and I were partners for 30 years. And we bought the company from the three ladies in 1984, and then we sold the company in 2003 to Berkshire Hathaway. And that's when Warren Buffett was getting into our business. He'd gotten into our business in 1999. So four years later, we were the 13th company that they purchased. And now Berkshire Hathaway has purchased about 65 companies across the country, all about our size or larger or smaller. And we're kind of right in the middle of the size of all of our companies, but a wonderful collection of companies that, you know, I had known many of these people for a lot of years, you know, just in the various industries that are various networks that we were a part of within the industry. That's how I got here, and so I've been. I've been at EWM now for 40 years, but now our name has changed, obviously, to Berkshire Hathaway, Ewm Realty. So, gotcha.

00:09:57 - Bill Risser

You know, Ron, at lunch, you shared, you know, the EWm story. Those are the last names, initials of the last names of the three women who own that real estate company. Can you share that with us?

00:10:09 - Ron Shuffield

Sure. Well, the three ladies that started our company in 1964 were already in their late fifties and sixties when they started the company. So by the time we actually bought the company from them, you know, they were in their seventies and eighties, and so they. They were dynamos of their day. And, you know, for that time, you know, for three women to start a company that became, you know, a large company in Miami, it was a real accomplishment that a lot of people shared their pride here in Miami. And we kind of met them kind of by a fluke. I mean, we were in a development business. You know, I had a partner for 30 years, and we were developing condominiums, mostly some single family homes, but mostly condos on both coastal Florida. But we were based here in Miami, and my partner had a relationship with the e anime Esslinger. They had gone to church together, and so he knew her through that. And so she had kind of confided in him one day that it just seemed like it was going to be time to sell. And they didn't really want to sell to anybody that had tried to approach them about buying that she wanted us to buy their company. And so I said, well, gosh, you know, we. We're over here in this development business. I mean, I don't know if we've got time to do all this. He says, well, I think we can do this. And so that's. That's exactly how it happened. It was pretty much that simple.

00:11:27 - Bill Risser

Yeah.

00:11:27 - Ron Shuffield

And so we bought the company, and, you know, the market was in 1984, we bought it, and, you know, we just had. We had 50 people, 55 people, to be exact. And that first year, we did about $50 million of sales, which is pretty good. I guess in that time, they were averaging like a million dollars a person. Not quite, but we just started recruiting a lot of people, and then we started buying other companies that saw what we were doing, and then it just kind of kept growing. But the three ladies we still talk about, we have a painting of them in our offices just to kind of remind us of the help that they gave us and the inspiration they gave us when the company was started.

00:12:09 - Bill Risser

Yeah, one of them, one of them was business minded. One of them was a socialite. Am I being polite there?

00:12:15 - Ron Shuffield

Yeah.

00:12:15 - Bill Risser

And I can't remember what the third one was.

00:12:17 - Ron Shuffield

Well, she was, she called herself the business manager and she, they were cute. They, they were great friends. And you're, you got a good memory there. Yeah. The one that was really the, you know, the, the person that was out in the community was Anna Mae Esslinger. And she was the life member of the chamber of Commerce and, you know, the president of the board of realtors. And, you know, she played bridge every Wednesday at the country club and, you know, she just sponsored a lot of events in town and so she was very out involved in the community. The second one was Dodie Wooten, whose father was the second physician in Miami, actually built our still existing today county hospital. He and doctor Jackson or Jackson Hospital. Those two guys, you know, were early, early people to Miami. And so they needed a hospital and those two doctors built it. So they had a lot of affluent friends. And so Doty Wootton sold probably the first million dollar home ever sold here because they were friends with everybody else that had businesses here and there weren't a lot of people here in those years. Dodi Wooten was born in 1911 and her family moved here in 1917. And even by 1920, I think there were only about 5000 people living in Miami. And then Arlene Maxwell, she was a petite little lady who really managed the back end of the business. And she always used to laugh and say that she was the balance wheel between two big wheels. They had a great relationship for a lot of years. So that's how that happened.

00:13:53 - Bill Risser

Yeah, you mentioned, you know, you're, you're much bigger than 55 agents.

00:13:58 - Ron Shuffield

Now.

00:13:58 - Bill Risser

Let's talk about what Berkshire Hathaway home Services Ewm looks like today.

00:14:03 - Ron Shuffield

Well, we have a little over 700 agents and ten offices at Dade, Broward and Palm beach counties. And we've always focused on the high end markets and so we still do that. And we're fortunate that we've been able to assist a lot of developers over the last several decades because of our development background. Originally, that was easy for us to transition into that. So we have sold several thousand units in pre construction all the way back to the late nineties and early two thousands. And then Berkshire, of course, now owns other companies in our Florida market. So we have four sister companies, I mean, well, three sister companies plus us, four of us in the state that are owned by Berkshire Hathaway. And it's just kind of really wasn't planned this way, but they're kind of like, you know, West Coast, North Florida Panhandle, Jacksonville, and, of course, along the western or the eastern border down here. So that has given us a lot of strength, not only within our state, but across the whole nation now. I mean, we have major companies in Southern California and Dallas and Denver and, you know, Washington, DC, New York. I mean, in the midwest where Warren Buffett is, we own a lot of those companies up through there. So it's just been a great collection of people. We all like each other and learn from each other and, of course, has been easy to share business with each other because when people are moving, you know, it's really one stop shop. You know, we, we had the same name and, you know, it's all Berkshire under the Berkshire umbrella. We also own a mortgage company, a national mortgage company called Prosperity Mortgage, and title companies for each one of us to close deals, insurance company to help insure all these properties. So it's been fun to see how all this has developed over the years and we've all benefited from it, including our customers.

00:16:01 - Bill Risser

Yeah, you say development. So you, you had a lot of those sales offices for those new towers going up is what you're telling me.

00:16:09 - Ron Shuffield

Yes. Right. Yeah, really fancy. I mean, we were fortunate to be, you know, of course, when technology was not what it is today. You know, we had a lot of, you know, fancy, you know, screens and, and help in the offices to showcase what we were, what we were dreaming about would be there one day. And of course, you know, then we would sit off to the sideline in a construction and a sales trailer on the property in most of those cases, and we'd watch the building, you know, be built and then people move in. And anyway, it's that those, those were fun periods and still. Fun periods. I mean, we still. Yeah, yeah, yeah. And now the developers are from all over the world. I mean, you know, we met last week with developer from, from Dubai and, you know, from South America. I mean, these, these development companies all see that, you know, these are, well, you know, established companies from other places that are now coming to the US, to Florida in particular, to build. So, yeah, we're helping them as well.

00:17:06 - Bill Risser

What, I'm going to ask you this question. I don't ask this very often, but I know you'll have an answer for this. What does a day in the life of the president and CEO of EWm look like? And tell me what it looks like. Tell me what you wish it looked...