Sometimes thinking outside the box isn’t about a new and flashy idea that nobody’s had before, or some exotic method passed down through the ages. Sometimes it’s about going back to basics, reviewing the fundamentals, and thinking about the structure of your business and what it’s built on. That’s what we’re talking about this week in the OTB studios as we continue our talk about Business Plans and just how much clarity they can bring to what it is exactly you’re trying to accomplish with your future.

 

To Team or not to Team

 

Last week we talked about the questions you should ask yourself before going into the business plan as a whole. This week we’re going beyond that, asking the bigger picture questions that should be considered as your business develops. One of these questions is whether your goals are in line with being part of a team or going it solo. There certainly are benefits to going it alone and being a solopreneur over being part of or building a team for yourself. Knowing what direction you're going to go can be helpful in knowing ultimately what you want to accomplish.

 

“Do you want to build a team, and for what reason? Or do you want to build a business that is an extension of you and who you are and the services you provide?” – Steve

 

Keep the Books rock solid

 

Another thing we discuss in the podcast is the importance of keeping up with your books and managing your finances in a way that is working toward your goals. Too many people set this aside as a necessary evil of doing business instead of making it work for your business. To put it bluntly: pay your taxes. So many agents neglect this side of the business at the beginning, and it becomes a habit as the business grows until it gets out of control. There can be so much opportunity in properly managing your financials, from growing investments, responding to trends and downturns, and even just keeping yourself in business that it cannot be stated how important this is to your business future.

 

There’s a lot to talk about, so put on the podcast and make sure you have your notepad ready. Did you hear anything that made you re-think your business goals? Let us know on Instagram or leave a comment on whatever podcasting app you use!

 

You can download a template real estate business plan at these websites:

 

https://www.zillow.com/agent-resources/agent-toolkit/real-estate-business-plan-template/

 

https://www.tomferry.com/articles/what-is-a-real-estate-business-plan/

 

Have a question or topic you’d like us to cover? Send us a message at:

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

We here at the OTB studios want to ask you a question that could be slightly uncomfortable: do you have a business plan as a real estate agent? If not, don’t worry, it’s something that even Bernie and Steve haven’t worked on in the past, but the past is the past and honestly, it’s long past time to get one started!

 

Like Bernie says in the episode, having a business plan is sort of like having a business constitution. It’s a document that asks questions of you to determine what kind of person you want to project to the world and what you’re looking for by going into business for yourself. It’s also about keeping yourself accountable; not necessarily toward the production goals you have for yourself, but the overall goals you have for yourself, and having them written down on a document can help you revisit those goals to see where you’re at.

 

In the podcast we go over these questions to help build out your business plan, but here they are laid out for ease of use:

 

Identify who you are as a Realtor. Know who you are and who you’re not.

 

Identify who your Ideal Customers are. What customer base would you ideally be serving?

 

Analyze your current Real Estate Market. What is the current state of things, what are the trends?

 

Analyze your Competition. Who is in the market with you and how do you fit in?

 

Decide What Services You’ll Provide. Exactly what will you be bringing to the current market?

 

Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) Take a deep dive into who you are.

 

Determine Financial, Personal, and Growth Goals. Create the thought process on where you want to be in certain amounts of time.

 

You can download a template real estate business plan at these websites:

 

https://www.zillow.com/agent-resources/agent-toolkit/real-estate-business-plan-template/

 

https://www.tomferry.com/articles/what-is-a-real-estate-business-plan/

 

Have a question or topic you’d like us to cover? Send us a message at:

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

Real Estate is not necessarily only about buying and selling houses. The people we help into homes have families, lives, and jobs that they’re taking into consideration as well, and as agents we should be considering what needs a family has beyond living in the right neighborhood. Bringing your client resources that they can use to make and even more informed decision about where to move, that’s just all the better, right?

 

Our guest this week is all about those resources. Colleen Schwab is the Senior Vice President of Marketing and Communications for the Greater Phoenix Economic Council. They are responsible for recruiting businesses to come to 22 cities and towns across greater Phoenix and Maricopa County. How does this fit in to you as the real estate agent?  Here’s Colleen in her own words:

 

“At the Greater Phoenix Economic Council, we're able to provide all this information that is easily downloadable from our website, so that if your client is a cybersecurity professional, and you want to give them information about how they can assimilate into the cybersecurity sector here and elevate their own career by way of a move to the market, we've got all that available for easy download.”

 

GPEC not only tasks itself with attracting business to the valley, but also of building a type of brand for what kind of businesses Phoenix wants to attract, and what kind of professional future the greater Phoenix area is looking forward to in the future. According to Colleen:

 

“We do get direct leads that are coming in by way of national site selectors and all of that. But we are also extremely proactive and aggressive about our marketing communications programs that are, you know, everybody wants to go to a place that is cool, that has a brand. Well, we promote that so that people see greater Phoenix as an opportunity.”

 

We had a great conversation about what GPEC is hoping for Phoenix as we continue to grow, what the future looks like, and how this all relates to the Real Estate market. Come learn a few things with us!

 

You can see all the things GPEC is up to at their website https://www.gpec.org/

 

Have a question or topic you’d like us to cover? Send us a message at:

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

You’re out there, doing well in real estate and putting in the work. You’ve established yourself as a solid agent and now you’re looking to diversify and up your game by starting a new business adjacent to what you already have going on. The reality is that branching out without a solid plan can end up costing you more than you could believe. This week, we’re talking about starting new businesses and how to tell the difference between creating multiple streams of income or creating multiple distractions from success.

 

Great Idea or a Great Distraction?

 

Gary Keller says that the hardest thing for an entrepreneur to do is say no. We all have ideas on how to make things better or places where opportunity exists. But unless we do our due diligence, those ideas are just distractions from what we’re supposed to be focusing on. The hard truth is what starts out as a side hustle can turn into something that sucks up all your time, your money, and your earning potential. When evaluating if a business venture is something worth getting into, understanding how much effort you’re willing to put into it before you need to stop is a hard question that needs to be answered.

 

When is the Time to Branch Out?

 

All this doom-saying is not to say never try to branch out, but only to be smart about it. Take a look first at yourself and your primary business. Are you still having to hustle to make ends meet, or are you in a great place where things are coasting along? How is your home life: is your work/life balance where you would like it to be? This all needs to be asked before branching out if you want to be in the best place to be successful. Finally, ask yourself: can building a new business help me in each of those areas, and if things go wrong can I fall back on what has already been working without a huge disruption?

 

Answering these questions honestly can greatly increase your chances of success in building your portfolio and becoming the successful business person you want to be. Be honest and put in the work to make it succeed, otherwise it’s just a distraction from what is making you a success in the first place.

 

“What I don't advise people to do is get distracted from their day-to-day real estate business. Most people know that we flip houses, we have rentals, and we do traditional business. And there's a mix of everything going on. But we can do all those because we put the right people in place. They're not distractions because if somebody finds out, ‘Hey, you couldn't show me house yesterday, because what, you were scraping popcorn ceilings in your flip?’ That doesn't look good for your career.” - Steve

 

“My favorite four-letter word is idea, right? But there's two roads it goes down, it can either become a shiny object or weapon of mass distraction, or it becomes a fully vetted venture. Something that you're actually thinking about all the components that go into that idea to create a revenue stream from it.” – Bernie

 

“I think there's a real basic exercise that any business owner entrepreneur should do for any idea that is create a business plan, right? I mean, it's kind of like Business 101, what is your business plan for this idea, and make that be your sobriety checkpoint.” – Bernie

 

“I think when you do a side hustle, you have to be able to take one amount of money and say, ‘This is what I'm willing to invest. If it doesn't go anywhere, I'm out.’ It's either a loss or it's a gain.” – Steve

 

Have a question or topic you’d like us to cover? Send us a message at:

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

It’s safe to say that the real estate market in Phoenix has been bananas, as Bernie would put it. Not enough houses, listings that close in days (or even hours), this is what we’ve been dealing with for the last year or so. But while not much has changed recently, things look to be cooling down a bit, if not moving toward real change. That means a change in attitude is needed to continue to be successful in this market, and today we’re talking about some strategies to help make that change.

 

Crazy Markets Breed Bad Habits

 

So, what does a cooling of the market look like? The truth is that because the market has been so fast, we’ve gotten used to that as being the status quo. When you get used to something being extreme, habits can form that will hurt you drastically once things start to settle down. Take a moment to look at the conversations that you’ve been having with your clients, and how you’ve been conducting yourself professionally. For sellers, a cooling will mean that listings won’t be going so far over price, and more care will be needed in making the listing itself.

 

If you’re not having conversations with your clients yet about a cooling of the market, you need to get ahead of curve before it leaves you behind. Bad advice can lead to overpricing a house thinking the market hasn’t changed or holding out for more money when a good deal is already on the table. In an industry where reputation is so important, avoidable missteps like these can have big consequences.

 

Don’t Miss Out on Opportunity

 

A cooling of the market isn’t necessarily a bad thing in terms of business. There is opportunity to be had in the connections you’ve made that didn’t move because the market was so bananas. Reaching out to clients who might have stepped back is a must when ground conditions change. Keeping an eye on how the market is changing and having a plan for when it does is going to keep you successful and your clients happy.

 

We’ll have more to come as we see how things play out, so get out there and start having those conversations, and have a plan, because there’s always opportunity if you’re ready when the winds of real estate change like they always do.

 

 

Have a question or topic you’d like us to cover? Send us a message at:

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

The big news hasn’t stopped here at the OTB, because this week we have a legend in the studio with us. A veteran agent, a coach, and a mentor, Kimberly Ryan is here to give us the low down about her own move to Real Brokerage and why she only wants to work with people who have the best intentions at heart.

 

Working with a Brokerage That Values Quality

 

In our last episode, we talked about what should go into making the decision to switch brokerages. Kim herself changed over to Real recently along with Steve, and for her it was a question of what kind of values they had and what kind of agent they’d attract:

 

“One of the things that's really important to me is, I'm not looking for you if you have a pulse and a license. That's not the requirements, right? I'm looking for people who have a high moral value who understand what integrity looks like, who are solid practitioners of real estate and who are like people you like. I mean, these are people I want to be in business with.”

 

For her, it’s not about just attracting the best in the business, but those who have the potential to be the best. We talked about support and improvement being an important aspect of belonging to any organization, and she feels the same way:

 

“I'm not looking to be the biggest brokerage, I'm looking for us to be the very, very best, and that we can attract the best. And that we can make the other people who might not be at that same level, we want to raise them up.”

 

Building Wealth and Creating Legacy

 

An important part of Kim’s move to Real was the idea of building wealth alongside having a good career as an agent. Being a part of an organization that is invested in building legacy is what Thinking OTB is all about! Kim had this to say about the difference between just being good at your job vs thinking outside the box at real estate’s potential for wealth building:

 

“If we're operating on such a transactional basis, and we're neglecting our own wealth potential, right? I don't know anybody who's going to get rich and wealthy selling real estate; sure, you're going to make some good commissions, no question. You might live a great life. But I don't know that you're going to hit levels of wealth (without investment).”

 

We’re in the business of helping people, and sometimes we can forget that WE are worthy of just as much investment as our clients. The strategies that we can use for ourselves can be used for our clients, which is exactly what we talk about all the time, and Kim agrees:

 

“Why would we be spending all our time, effort and energy on helping people and not taking care of our most valuable asset: ourselves? I don't mean that from a self-serving, selfish mentality, I just mean, listen, you can't be your best if you're giving your best away all the time, and you don't have anything that's pouring back in and restoring, rejuvenating, and securing you.”

 

You can connect with Kim at her Facebook: https://www.facebook.com/kimberly.ryan.31924

 

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

There are some big changes going on here at OTB behind the scenes. Steve is proud to announce that he’s started a new partnership with Real Brokerage, giving him a new place to hang his license and pursue new business opportunities. This change in business brings up a subject that all Real Estate agents eventually will go through: what does it mean to change brokerages and when does a move like that make sense?

 

Relationships, Leadership, and Resources

 

The simple truth about where you, as an agent, choose to hang your hat is personal preference about an organization’s potential for relationships, leadership, and what resources they offer. When you’re just starting out, how you prioritize these three aspects might be different than what you might prioritize if you were more seasoned. The importance you place on these three roles may change, but in the end you’ll still want to consider your personal preference in their importance.

 

Know Who You Are, Know Who You’re Not

 

Knowing who you are and understanding who you are not so important to understanding what you need from a professional relationship. Remember, with any move like this it’s also important to ask yourself ‘how is this a smart investment in my professional development?’ Have reasons for why you didn’t stay at one brokerage and think about how those reasons are answered by the new one. Don’t let flashy promises of quick money blind you to what is important to you and your future.

 

“At the end of the day, your brokerage is going to be your personal preference for reasons. And you're either moving away from something or you’re moving towards something, and you need to make that decision before you do it.” – Steve

 

“I think it's about getting specific about the things that you want instead of just talking about splits.” – Bernie

 

If it's working for you, and it's making you successful and it’s filling your cup, yeah, then stay there totally. But do not make changes based on money and splits because the grass isn't always greener on the other side.” -  Steve

 

“Who are the people that you can really grow your business with that are also on the same side as you, right? You're in alignment in terms of your practice, and you can help each other and not like in this kindergarten manner, but more on an entrepreneurial level? Who are your power partners within that brokerage?” - Bernie

 

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

This week joining us in the OTB Studio is Dennis Gable, the brand producer for Digital Sundays. Dennis specializes in building a brand identity for individuals and has a great deal of experience with Real Estate agents. We had a great conversation about building authenticity in your brand, targeting your marketing, and the human side of the real estate business, and just how much the industry has changed from the old days of suits and ties.

 

Here are some notable quotes from Dennis during our conversation:

 

On what having an effective brand:

“I'm a brand producer: what it means for me is that brand is, in many ways, an expression. I say that if you're going to be an entrepreneur, you should be solving a problem. And if you're not solving a problem, just go be an employee because it's probably easier for everybody.”

 

Targeting Your Customers:

“Would you rather talk to somebody that you have something in common with or not? Do you think there are enough people to talk to that have things in common with you? So, just go find them and replace the people that you don't have anything in common with or that really difficult client that doesn't really align with you.”

 

Being the Most You There Is:

“I want you to be the loudest version of you. I don't want you to be like me and I don't want you to be like x-person down the street. No, I want you to be the loudest version of you.”

 

Trusting In Expertise:

“If somebody has learned a trade, and for me design is a trade. It's something that I can take anywhere in the world. When somebody learns a trade, you don't have to love how they do it or the style that they create in it or whatever, because it's still artistic. But at least trust the knowledge that they have the learning that they went through.”

 

You can find Dennis at: https://www.digitalsundays.com/

 

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

When you’re dealing in real estate, the simple truth is that money solves problems. As a real estate agent, knowing where to get money when you need it and what kind of relationship you have with money can be the difference between solving a problem and losing a client. You have to know what your options are and how you can best use them. So, this week we’re going to talk about hard money and how it can be used in thinking outside the box to create solutions for those problems’ money can solve.

 

What is Hard Money?

 

Hard money is a short-term loan that can be borrowed from a non-traditional lender at high interest rates. Since the money isn’t coming from a normal lending source like a bank, the terms for establishing that credit can be different depending on the situation and the lender. These loans are regulated under consumer protection laws and can only be used for non-owner-occupied houses, so it’s meant to be used for investment properties.

 

For agents, this can be a powerful tool if nurtured correctly. Finding a hard money lender that you can depend on means building a relationship based off sound judgement. This falls under the investment side of the business, the side that most agents have trouble slipping into once they’ve gotten the hang of the traditional side of the business.

 

Lean on Experience Where You Can

 

In the podcast we go over some scenarios about where hard money lending can be used to find a unique solution for clients even in the market we find ourselves in today. So much of what’s possible on the investment side of real estate is not what you’d learn just working deals and selling houses. We always say that you don’t know what you don’t know, so building relationships within the business where you can lean on and learn from experience is key to building that skill set of outside the box strategies.  

 

Let us know if you’d like to hear more on this topic, or if we can address any specific questions you might have through our social media or by leaving us a comment. Want updates on future episodes and interviews? Text OTB to 602-560-7027 and connect with us!

 

“If you're a real estate agent, your relationship with money is critical even if you're not ready to use it, because money solves problems.” – Steve

 

“So, listen to this for a second, it's probably the greatest wealth building tip I can give you as an agent: so many people focus on the percentage rate of what they're paying for money and not knowing what the long-term outcome is.” – Steve

 

“Learning about (investment) not only gives you the ability to create solutions for your clients, but you're going to be able to build wealth for yourself. I mean, that, to me is the name of the game in and of itself is the whole thing. It should be about how are you creating that legacy, wealth and income?” – Bernie

 

I've got people that I can bring our way like and learn and find out, ask questions, find people in your brokerage that do this, ask them if they do it, find some of your clients, ask them. What's crazy is if you as an agent talk to people that you've already done business with, and ask them, let's say you've sold them, sold their home or helped them buy a home. And if you ask them, if they own an investment property, you will be shocked at how many of them are already doing this without your help.” - Bernie

 

 

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

As of June 30th, homeowners with a federally backed loan could no longer apply for forbearance under the terms laid out in the CARES act. The last year and a half has been a game changer in so many different ways, and like any huge change there’s a great deal of misinformation and rumors floating around regarding what the market will look like moving into the future. On this episode, we’re going to go over the reality of the market and how we as real estate agents can best serve our clients and avoid the mistakes of the past.

 

Stay Confident and Think Outside the Box

 

There’s lots of fear in the air right now that there will be a “huge surplus of homes” because of the end of forbearance, or that the market is looking to burst the same as it did in 2008. While we can’t predict the future, there’s not a lot of evidence that suggests any of that. The reality is that even with the end of this form of forbearance, clients are still going to be looking to sell their home and get into other properties.

 

If they decided that forbearance was an option they needed to take, then that is just another variable that will need to be factored when you as their agent is working with them. In this episode, we speak with Kelly Zitlow from Cornerstone Home Lending about what details need to be considered and she has some great strategies for agents looking to go the extra mile for their clients.

 

“You Don’t Know What You Don’t Know”

 

Being proactive with your clients, especially in a time of uncertainty like we’re in now, is going to be the difference between being a good agent and a great one. It’s highly likely that the average homeowner has no idea what this will all mean for the future of their mortgage, and there’s opportunity there for you as the agent to educate them and guide them through these uncertain times.

 

“Clarify with data, don’t terrify with it.” - Bernie

 

“There's a number of things there that you want to talk to your clients, because remember, part of our job as agents is to help our clients build wealth and save money.” – Steve

 

“There was a time when you wanted to put your head in the sand and not talk about this. We are in an opportunity now where agents can be proactive to have the conversations to learn about what's happening to their clients and/or potentially new clients and helping people understand what's really available to them.” – Bernie

 

“They (real estate agents) think that forbearance was like a nasty, ugly word back (in 2008), right? Forbearance today, it's just part of the cycle. We can deal with it. There's options.” – Kelly Zitlow

 

Let us know if you’d like to hear more on this topic, or if we can address any specific questions you might have through our social media or by leaving us a comment. Want updates on future episodes and interviews? Text OTB to 602-560-7027 and connect with us!

 

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

 

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!