With the market shifting, Nick dedicated most of this Live Dial Session to discuss how this will affect your leads and what you as their Realtor can do to protect them from bad deals.

 

You'll also hear great tips about handling rental leads and some basic rules about when to ask for a BRA.

 

 

Transcript:

 

Nick:  0:03  

So, yeah, I can't really complain. Everything is, kind of, working out. It's just getting super busy. Now's the time for these leads, especially for you guys; if you have leads that were, you know, maybe three months, let them know the market's changed, and now there's an opportunity for them. Sorry, I'm just trying to log in and everything here.

 

Crystal:  0:27  

No worries. With the listings that you have that came from AgentLocator, do you know how long they are in your system before you actually got the sign on their yard?

 

Nick:  0:46  

Some a couple months. Yeah. Some a couple months. And it's more relationship building, you know? We have like a 1.5 coming out from AgentLocator in our area. So, that's pretty good. That just took a couple of months, just really, just good timing and just being on it. I think that building that relationship, you know, that's how we do it. That really helps. Just because whenever they're ready, they'll start thinking about you, right? Which is super, super good. But yeah, like, that's just kind of really it. Like, it's really hard. Like, I understand what you guys, you know, especially if you're newer, you're probably making so many calls, not really getting the track that you need. But I mean, at the end of the day, you know, you have to get better, so Kayla, someone on my team, she basically started to make a lot of calls. Like, before, she needed to make like 50 or 100 calls to get some really good leads. Now she's very similar to me. She only needs to pick up the phone and start calling a couple of people. And she has leads and good leads, not just like, you know, people are like flicking her off and stuff. So, I think it just really all comes down to your scripts and confidence. And also, too, I think what really helped Kayla was, you know, since she's doing a lot of business right now, she knows it. She knows the market. When someone's calling, or you're talking to someone, you can hear it, right? So, I think that's pretty good. No seller campaign. These are all buyers' campaigns.

 

Crystal:  2:23  

The buyers that are also sellers, so you'll be listing and buying, so there'll be a double ender for you, at least.

 

Nick:  2:30  

Yeah, yeah. And what we're trying to do is, since we get a listing from it, we're right now in this market because buyers are coming out of the woodworks. We're trying to get at least another one or two deals from it just because like, you know, especially now taking a chance. This couple of weeks, I'm finding, is where the market really, really shifted. Like, for example, if something in our market sold two weeks ago for 900, that next property for the same similar thing is getting maybe eight or high sevens. So, now this is where the shift is. So, now going into the next, like CMAs and stuff, this is where it's going to be a little bit easier because the data is already there. While the shift is happening, you don't have comps to show, and you're just giving a range, right? So, now I think that the next batch of sellers will be a little bit easier. But it's always hard when there's a shift in the market.

 

Crystal:  3:21  

Oh, exactly. If they've been watching it too, right? It's trying to get them to understand what happened, you know? Had you called me a few months ago, yeah, we could have gotten that price. But unfortunately, you didn't. It can be tricky. And it's, yeah, because everyone wants, you know, the most amount of money for their home as possible, right? And unfortunately, some people wanted to move, and they thought that this was, you know, this gravy train, the prices are just going to kind of keep going. Okay, now let's sell, but now it's kind of going down that downhill.

 

Nick:  3:54  

And you know what's interesting, especially for everyone that's here? One of my colleagues was saying that, you know what, yeah, the prices are going down. If buyers are thinking that they should still be waiting, this is a really good, a really good reason on why not to wait. So, basically, if you bought like, I think he was saying like a $700,000 mortgage with our rates that we had a 2.4%, I think the cost was $3,100. Right? It was either 700,000 or 500,000. But let's just say 500,000, okay? Basically, that was 3100 for everything. And now, with the interest rates being at 5%, that same house is worth now $5,100 a month. So now, with the interest rates and how everything came up, sorry, I'm just trying to; my phone was blowing up. So, what we're trying to see is just like: Now look, there's a $2,000 difference, approximately less or a little bit more, of buying the same house now. So, like, that's kind of crazy, you know what I mean? Now seeing it like that is, kind of, really scary.

 

Crystal:  5:05  

Yeah, yeah. It's bringing into a lot of perspective for a lot of individuals or anyone set up for a mortgage renewal. But I guess this is all of what that stress prepared these buyers for, you know, provided that they haven't added additional debt they have, right? So, you know, they could afford it, but then it just depends on what they've accumulated between that approval and, you know, now in this rate change.

 

Nick:  5:38  

I totally agree. So, it's just like, it's super crazy to even see that. And it goes to show that like, all those people that were waiting for prices to drop, is really just... Guess what, now they're spending more money for the same product.

 

Crystal:  5:55  

Yeah, it's - would you rather pay more for the house or more on your mortgage and interest, right? Like, it's really the interest payments at the end of the day. Would you rather have more to go towards your equity or more going to the bank?

 

Nick:  6:07  

Yeah, I totally agree. But like, that's the crazy part, right? So, it's just one of those things. 

 

Crystal:  6:18  

Yeah, it'll keep shifting. It'll keep shifting, but there will be people that don't have to move and might wait for the interest rates to come down whenever, however long that will take, you know? So, they might be now just waiting to see what goes on for the next six to 12 months.

 

Nick:  6:32  

I agree. I agree. So it is pretty crazy. But just before I jump on to do a few calls, does anyone have any questions or any, you know, problems with their leads? Just so I can, kind of, gauge and then showcase it while I'm making my calls?

 

Crystal:  6:50  

Priyanka, I'll allow you to talk, okay?

 

Nick:  6:54  

That's always nice.

 

Priyanka:  6:55  

Hi, Nick. How are you?

 

Nick:  6:58  

I'm good. How are you doing?

 

Priyanka:  7:00  

Good. Good. So, I'm in the Kitchener Waterloo area. And the market is, of course, shifting here also. But still, I am trying to reach out to the leads I have. They come on and off, check the emails, but they never reply to any calls any texts. So, I was just trying to understand how to engage those unresponsive leads. And another thing I wanted to ask. I have a rental campaign, also, going on. And most of the rental leads I'm getting are not qualified enough to get the foot in the door. So, do you suggest to switch off the rental campaign and only focus on the buyer leads? What do you suggest?

 

Nick:  7:51  

Good question. So, I think that it really just depends on what you want to do. So, let's just say, in a perfect world, what are you looking for? What do you want to do? Do you want to just do more buyers?

 

Priyanka:  8:06  

I want to do more buyers, for sure, yes. But I don't mind doing one or two rentals, kind of, you know, get the things moving a little bit ahead because buyers are on the fence right now. They are, kind of, not clear, so they are taking some time just thinking about it. So, just to keep the ball rolling, I am interested in doing a few rentals, but it's not working out. I, kind of, don't know.

 

Nick:  8:35  

For sure. So, okay. So, this is what I'm thinking. So, when I first started, I did rentals to get started. Not a bad thing, right? But also, too, when I started, rentals weren't where it is now. The market wasn't as crazy as it is. The reason why I'm saying that is because, with your rental campaigns, I find that most people are probably not going to be qualified. And I feel that, you know, you're not you're not wasting your time, but what I would be doing is this. When I first started, I was focusing on rentals to get money ASAP, right? I get it. But what I did after that was I started shifting my mind into buyers and then listings. The reason why I did this is because rentals, you can be running around for so long, and you're not really getting paid what you're worth, right? Like, I mean, it's okay to help people. I totally understand. But I find for most rentals, they don't help themselves, right? Unless it's somebody that's really, really qualified, who wants to get it done, right? But in most cases, they're going to have better options and more options in Kijiji, Facebook Messenger, like all those places or marketplace, that's where those rentals are going to find more assistance because there are more homes available at that time, right, on those platforms. So, I think it's important for you to have buyer leads because as buyer leads come in, you know, it takes 30 to 90 days, which, yes, it's a long time. But if you script your stuff properly, you could get a listing appointment from your buyer campaigns, like, next week or the week after. So, and the reason why you shift your perspective is because now this is what you're focusing on, and this is what's going to start coming to you. When I started just focusing on leases and trying to do buys, I always just kept getting leases. No one would close with me on a buy. It was just like, what's going on, right? So, once I made that shift, that shift allowed me to really start just thinking about: Okay, these are my clients, this is what it is. If you're a rental, unless you're doing 3000+ a month and you're qualified, that's when I can do it. But if not, like it's not. 

 

Priyanka:  10:41  

Yeah, no, most of the people who are; sorry.

 

Nick:  10:47  

No, no. And then I was going to just say too, regarding your, like, you know, no one's answering. So, I think that goes to: Okay, what's your strategy? When no one answers, what are you writing to them? Like, what are you doing, if you don't mind me asking?

 

Priyanka:  11:01  

So, like, this is one specific lead. He comes on and off. I mean, every other day, he clicks the email, which the system is sending the listings. He's active. He's looking. I tried to call him, I tried to email, and I tried to ask about the specific property which he has liked. And I messaged him: Would you like to go and have a look? How far are you in the buying process? Texts like that. And then a phone call. And then email, you know, trying to gauge what is the best method of communication he would be interested in. But again, no success.

 

Nick:  11:47  

Yeah, I know what you're saying. So, I think that, personally, okay, this is what it is. So, if I get someone that doesn't respond to me, right now, what I've learned with my buyers, and just, you know, being in the business, especially for buyers, right now, buyers don't want someone just to send them a list. If you're just sending them a list, and they're checking, guess what? They are looking at the list, but they don't really care. What I mean by they don't really care is that, like, their emails are getting filled up by, you know, you also. They're going to, probably, if they went to your website, they probably went to two or three other ones registering as well, too. 

 

So now, picture this. You have three agents just sending you fricking, you know, properties that a) might not even be what they're looking for because most people who come in are not setting up their campaigns properly, right? Number two is that, what I'm seeing with our buyers; they want us as real estate agents to be like: Look, this is what I'm available. I want you to show me houses that are in my criteria. So, like now, as a realtor, as a buyer agent, we need to make sure that we understand what the criteria is, specifically what they're looking for. Are they qualified? Are they pre-approved? And then showing them properties that are good fits in their budgets? So, for example, you know, if you're not getting a hold of them, right, I would be texting, saying: Hey, Priyanka, I hope all is well. I saw that you just took a look at the list. There are actually a lot of opportunities right now in this market. Here are some of my top fives that might be a good fit for you, right? So, I would tell them the top five properties. So, it takes time, right? Because you're not doing a cookie cutter message, you're really just getting right to that person. And then you send them, what I would do is I would send them, because on AgentLocator you can see what they're looking at, right, and how many times. So, I would be putting three properties on there that they're looking at highly, and then two other ones that you think is a good fit. And then at the bottom, be like, you know: These are some properties that I think are a great fit for you. Let me know what you think. Or I'd be happy to have a quick call to give you more information about these listings and how we can get you the best competitive price. Do you see how that's different? Rather than here's a list? Hello, Nick calling. How are you? Did you see the list? Did you like anything? That's what everyone's doing, right? Sorry.

 

Priyanka:  14:16  

So, the system should keep on sending the listings, or we should switch off that system sending, and we start sending them. So, how can I change the process?

 

Nick:  14:31  

So, first of all, when they come in, they're going to set it up, right? So, what I would do is that if they're not responding to that email or text message that you send them, wait a day and be like: Hey, or try calling them. You might catch them off guard. Try calling them with a different number and be like: Hey, it's Priyanka. I just wanted to connect with you. Just because, you know, I know that, you know, I've been sending you a list of homes, and I see a lot of great opportunities right now. And I just wanted to make sure that I'm sending you homes that you do want to see. I don't want to be one of those agents that are filling up your emails. I'm a really great local agent in the area. I know my business, I know my product, and I know how to get you a deal. So, what are you looking for? Are you looking for something that is a three bedroom, two bathroom minimum? Are you looking for something that's an attachment? Or detach? What are you looking for, so I can send you some great opportunities because right now, with uncertainty in the market, this is where you're going to get a great deal. So, you see how I'm, like, pitching it? Like, if someone heard me just speaking to them, they're going to be like: Okay, yeah. Like, I want to hear. I want to know where to put my money.

 

I think it's just thinking outside the box. Because a lot of people are not going to respond, right? And a lot of people are doing the same types of responses that you're giving them, which is not bad. But right now, so many people are so used to automatic campaigns, so used to like, you know, agents just calling them and just, kind of, just not really educating them, right? Like, I think where the value is when we're calling these leads is that we're educating, we're letting them know that: Hey, look. Like, this is what happens, or this is what you need to do in order to get your goals in line, right? But there are a few steps that you need to do. And that's why we are relationship based. Like, that's why in my calls, I just go: Hey, look. I understand you're in the information stage. I'm not here to sell you anything. That's not my job. My job is to make sure I'm finding a suitable place for you to call home next. You see, things like that, do you know what I'm saying? Like, you're going to, like, open people up a little bit more. But remember, it's easy for me to say this because I've been living on these calls for, like, seven years, you know what I mean? So it just takes time where I'm like: I can just call one; you guys can see it, right? On our live dials. I can just call one call, and I can make it work. But also, too, it has to do with a little bit of luck, having that right person ready for me to answer that, like having that conversation with them. But as long as you're scripted, and you know what you're going to say and how to, you know, move the conversation to what you need, then you've mastered it, and then, you know, it's much easier. 

 

Priyanka:  17:11  

Right. So, should I, that's what I was also thinking. Should I drop my rental campaigns? I get the mindset, which we're talking about, right?

 

Nick:  17:23  

Yep.

 

Crystal:  17:25  

I would keep some of your rentals because those can definitely supplement your advertising costs, right? So, it's almost like using them not necessarily to, you know, completely get ahead. But at least if you get on it, like, let's say one transaction a month, that's all your advertising costs covered right there.

 

Priyanka:  17:44  

Yes. Yes. That was the reason, Crystal, I started that rental campaign, but you know what? The people who are responding and talking they're not qualified at all. I mean, some people are unemployed, some are on disability.

 

Crystal:  17:58  

Yeah, you're going to have that, especially with a rental or low-hanging fruit. And there's a ton of them. You're just unfortunately not going to be able to assist. And it's best that you find that out right away, right? So, whether you, and I don't know, you know, I always, you know, encourage you guys to create just a simple email of what you're going to need in order to apply for or put an offer in, right? So, you're getting prepared before you go and look anything up. But really, ultimately, what it does is it gives you an inside look at what their financial situation and their employment and, you know, looks like and the rentals or their credit score looks like. And yeah, like, as I said, there's a lot that, as much as you would want to help them, you just can't. There's nothing you can do about it. But, you know, on the plus side, those leads aren't too expensive. You're building your database, and one day, you might be able to just help them, you know? Their situations might change, and it doesn't hurt to keep them in your system and receiving information from you. 

 

Nick:  19:03  

So, yeah, that's Crystal's method. Personally, for me, as someone who's in the field, I would scrap the rentals. Just because you're wasting time, I think. In my personal opinion, that's what I tell my clients. Like, even Janelle on here, he's new, cool. Do rentals to get your feet wet, but if you've already done deals, just focus on buyers and sellers. The reason being is because you're going to make more money, and it's going to be more fulfilling to help someone that is willing to help themselves. I find with rentals, you'll take them out, if you do, but they don't even; like, for me, before I take anyone out, I'm getting all their information up front. Yeah, because if you take them out, and they find a property, guess what? They're going to be like: Oh, I need this. Oh, I need a landlord reference. Oh, I need a work reference. Like, they're not; and, like, I understand what Crystal is saying, is getting it all together. But I find when people who are rentals, they don't really help themselves. And you know what, like, you know, I'd rather spend a budget, take a little bit more of time to get something that will pay me such a longer course. Do you know what I'm saying? Because on a rental, especially in Kitchener, or what, you're making maybe $1,000, maybe. Maybe 1200, right? Whereas if you do…

 

Priyanka:  20:11  

On average, the detached; a lot of people are not qualified. The income and the family size, or the employment status, whether they are working, and credit scores are not good enough to get you there. Even the basement, you won't believe it, it is $2,100 for a basement, two-bedroom.

 

Nick:  20:36  

Yeah, I know it's expensive. Rent doesn't go down, but prices go down. So, I totally get it. And I think, personally, there's nothing wrong with the rentals. But, I think, if you want to go big, you have got to play big. So, I think that you need to, like, up to you, keep the rentals. There's nothing wrong with them, Crystal's right because it does help supplement. But I would start focusing on buyers and sellers because you're here in real estate, not to do rentals unless that's your goal. But our goal is to buy and sell. Because that's where you're going to build your business, right? And it's going to be more worth your time. You can't be showing ten properties and taking 30 days to close a rental. Like, it just doesn't make sense. You're spending more money before coming in with gas and everything.

 

Priyanka:  21:27  

Yeah, absolutely. Yeah.

 

Nick:  21:29  

So, I'd rather take the risk. If you're not going out as much, that's fine. But I'd rather take the risk on getting people who are qualified buyers, that when you do go out, and you take 30 days, at least if they're spending 700k, you're making, like, you know, at least 15 grand, prior before splits, you know, all that kind of stuff - splits with a brokerage and stuff. But like, and then you start focusing just on that. And then guess what, while you're focusing on these, this is what, now when you're talking to your new leads, people are going to see that you're experienced, they're going to hear your experience, you're going to; you know what I mean? So, it's going to be easier afterwards.

 

Priyanka:  22:02  

It's been two months with AgentLocator, and my budget is $300 a month. And I've just got probably 20, 15 to 20 buyer leads, and lots of them, they are not responding, or they are not, you know?

 

Crystal:  22:22  

They're just not ready. Yeah. They're not ready. And that, you know, I kind of try to; like, consider ourselves, right? When we go on, we might be kind of like; it'd be nice to have, you know? I don't know, a new stove, right? So we started looking at stoves. But we're not really serious about buying a stove, we just think it might be time for a new stove, and then we're gone. It, kind of, some of us will pursue that and end up buying a stove. And a lot of us are just kind of curious, check what's out there, and then aren't ready to commit to that just yet. So, obviously, housing is similar but at a larger scale, right? We love, we want, we're interested, we want to be able to do that, we're watching prices because we're maybe considering it, but we're not quite ready to talk to somebody about it yet. We just want to look. And if you've let them know that that's okay, like: I understand that you might just be browsing, you know, checking out the market. And that's okay. I just want to make sure I'm sending you the right properties that would be, you know, what you'd be looking for when the time comes?

 

Priyanka:  23:23  

And what is the frequency of the leads who are just looking or at the information stage to get in touch with them?

 

Nick:  23:31  

It's all, like; it's all hard. You can't qualify, quantify, because everyone is different.

 

Crystal:  23:36  

Yeah, it's relative to that lead. But typically, if you're consistent with your calls, you should get them answering within, you know, by six to eight, so two weeks of calling them every couple of days. And they should answer if you're consistent with that.

 

Priyanka:  23:51  

Yeah. And if you talk to them, and they said: We are still very initial stage, we are just looking. After that, what should be the…

 

Crystal:  24:02  

Figure out what that means. Everyone's "Just looking" is different, right? So, I could tell you: I'm just looking but have full intentions of putting a sign on my yard next month, right? So, it's, we have to keep asking questions and pull and figure out what is that - "Just looking", you know? How long have you guys been looking for, you know? What do your future plans look like? Right? Because they're all going to be different, right? And you'll get someone that's just looking as an active buyer, right? But if we don't ask the questions, we're never going to know, so your follow-up is going to be based on what those future plans actually look like. Are they three months out, six months out, a year out? So, it's always trying to find the approximate timeline for them.

 

Nick:  24:45  

So, what I would be saying is, if that came in, if they are; so, what was the question again? Sorry, just because I was thinking…

 

Priyanka:  24:53  

Just looking, but don't have a concrete plan or the timeline. I don't know when I'm going to move.

 

Nick:  24:59  

This is on an email or a call? I'd be like: Okay, you know what, I totally understand. However, right now, more than ever, you need someone who's an experienced agent like myself because the market is shifting. What the shift means is that there is a lot more inventory, with interest rates rising, it's made buyers a little bit more nervous and uncertain. And anytime that there's uncertainty in the market, that's when you can get a great deal. So, let me ask you a question. I like, you know, I would just say one or two things. If you caught them just out of the blue, I'd be like: Do you have time for me to just, kind of, like, you know, have another call with you and schedule a call with her, them, or someone else who's looking to buy like the husband or wife or whatever, right? Or they're available right now, I'd be like: Hey, look, what this means is basically, like, now, prices are listing low still, but, like, some of them are not getting offers on Offer Day, which means that they are terminating that price point at the low price, and then sitting where they want, which means it's negotiable. So, if you're pre-approved for 750, guess what? Yeah, I would look at things that are listed at 499. Or I'd be looking at things where they're at a max budget, but we can negotiate down. So, there's another great strategy on how we can get you in and having a little bit more options and diversity in your portfolio. So, like, do you see how I attack it? And, like, if I said this to a lead, guess what? They're going to listen to me because no one else is telling them what I'm telling them.

 

Crystal:  26:28  

It's confidence, and then, like, the market knowledge.

 

Nick:  26:32  

Yeah. And then all I say is like: Listen, why don't I do this? I'll pick out five or six listings that I think are a good fit for you. Just before I do that, have you seen any listings that you really like? If they say: No, you send them a list. You figure out exactly what they're looking for and then send them the list. Then tell them on the phone call: I'm going to send you the list this afternoon. And then take a look. If you like anything, let me know. If I don't hear back, I'm going to be following up with you the next day. Is that okay with you? They're going to say: Yes, that's fine. So, perfect. So, then I would follow up with them the next day. If they don't answer, send them a text message: Hey, you know, just want to know when you're available, because… Like, you want to keep dangling the carrot in front of their face a little bit, right? Because, you know, don't make up lies, make up carrots that are actually true, right? And I think that would be the best way to kind of do that. And then, if you're going to take them out, depending on how you do things, our team here gets a BRA signed before we take them out. So, it's up to you if you don't want to get that signed. But that's something that our team does.

 

Priyanka:  27:37  

Okay, for those showings, or for like three to six months BRA?

 

Nick:  27:43  

So, our scripting, like locking someone down on our BRA is; listen. At the end of the day, we, you know, I understand that you are in the information stage. You're interviewing me. I'm interviewing you to make sure we're a good fit. So far, I think we're a great fit. However, in order for me to help you, we need to help each other and what that means is I have no problems taking you out and showcasing new properties. But what has happened in the past is, and I'm not saying you, but what happened in the past is that there's a lot of people who are, you know, coming on to our website and taking a look, and they want to book showings with us. We are definitely able to help. But, you know, we have to work together, meaning that we can't just be, you know, going; like, I have to make sure that, you know, a) you're qualified, b) you're unrepresented. And if you are represented, what will happen is that usually, we sign, whenever we're taking someone else, we're signing a contract between, you know, like, I wouldn't say contract, an agreement between, you know, 60 to 90 days. But like I said, I understand that you're interviewing me, and I'm interviewing you. And what I would like to do is just sign you on those properties for 30 days for right now, so you can have an understanding of how I work and if we're a good fit for one another. Do you know what I mean? They're going to start saying, like: Oh, well, I don't know, why would I do that? And I'd be like: Listen, there's a lot of people that come through our website that want to see properties that are represented but are lying to us. Like I said, not saying you, and if I'm taking the time to go out, and so are you, you need to respect my time, and I need to respect your time, right? So, I think it's only fair. And at the end of the day, it's just on the properties that we need to go see, right? And then usually people understand the way that it is. Then, the hard part is getting the ID. If you get the ID, they're interested. They're credible. You can lock them down. But if you're not getting the ID, like, then it's up to you if you want to showcase the property because some buyers are going to say: Well, I don't want to sign if I haven't met you yet. Which is a great reason, right? So in that case, maybe book two showings or three showings and showcase, and then let them know: The next time we're going out, you're going to be signed with me.

 

Crystal:  29:45  

Yeah. And you can treat that first one too as almost like a working interview, right? It's, you know, you're not just doing one showing. You're trying to get a few showings to put yourself in front of them for a longer period of time, right? So, some, you know, it's like: Hey, let's just go out, you know? Obviously, you're going to ask some questions beforehand: Have you gone to any houses yet? Or is this your first? You know, have you just been primarily looking online? If you know that they've gone to see houses, you need to dig deeper. Now, how did you guys get in? Right? Because you don't want to, if they tell you that they just want to see houses, you definitely don't want to just go show them with the possibility that they are; they do have an agent. And you know, for all that matter. There are agents in Toronto, and just saying: Hey, call these, you know, just get other agents to show you their houses, and then we'll do, you know, an offer.

 

Nick:  30:35  

And then, you know what, like, you saying this and being upfront showcases that you're an expert, and you know what's going on. And I don't think it's a bad thing. If anything, I think it's good to be direct with people because people will: a) be taken aback, and people know that you're not… And, guess what, if they don't want to sign with you, guess what? They're probably already working with someone because, like, we've signed so many contracts, and we've learned that people who squawk and say: This is BS, whatever, whatever; guess what? They're really represented. So, like, I had; listen to this BS. I had someone for our listing that came onto our website tell me they were not working with an agent, didn't want to sign anything. Okay, no problem. So, I only showed them my listing. As soon as I got there, guess what she did? She pulled up with her fricking agent.

 

Priyanka:  31:25  

After showing?

 

Nick:  31:26  

Yes, saying: Oh, hey, I'm going to come with this agent. He's my agent. So, that's why you need to get it signed. Because, you know what, you're wasting your time. You're, you know, and if they're not signing with you, guess what? On to the next one. There are so many leads out there right now. Especially because there are so many, like, bad real estate agents that don't know what to do, especially in this market, they're not experienced. They're, you know, how many buyers; you know how many, like, right now especially, there's probably a lot of agents that made their clients purchase something first because a) they needed to because that's what they needed to in order to feel comfortable moving. But now the switch happened, so now they're showing them comps from February. And guess what? They're not getting those numbers. And now there's going to be an issue for; I think that there's going to be some deals coming back on the market because they're not going to close.

 

Priyanka:  32:16  

Right. Yeah, yeah, we are hearing this in our market also. And they are ready to lose the deposit because they just can't close.

 

Nick:  32:25  

Oh, that and getting sued. Because right now, they bought something for a million dollars. And now that they didn't close, and now that property is only worth 900k. You best believe - that seller is going to come back and sue the difference.

 

Priyanka:  32:39  

Yeah, absolutely. So, they're losing the deposit.

 

Nick:  32:43  

Yeah. And lawyer fees on top of that. So that's why it's super, super hard. I had clients that really wanted to buy first. And I told him: Don't. I said: You can, but know that you're going to apply more pressure yourself. And what are you going to do if you don't have that number?

 

Crystal:  33:01  

Yeah, you have extra money set aside, just in case, right?

 

Nick:  33:04  

Say no, don't do it. Or if you really want to do it, no problem. But I'm sending you a text right now saying not to do it. And you're sending me a text right now saying that I don't care. Because when it comes, remember, when it comes down to problems, they're not your best friend. If your best friend is your client, guess what? Your best friend is going to throw you under the fricking bus real quick.

 

Priyanka:  33:24  

And in today's shifting market, you would; what would you suggest: buy first or sell first?

 

Nick:  33:30  

Sell, all day.

 

Crystal:  33:32  

The market is dropping, right? So, you want to try to get the most for their house.

 

Nick:  33:36  

You want to really sell them right now as the market's dropping. You want to sell and get them top dollar. Wait two weeks. As more inventory comes, prices will go down more, so they'll get a better deal. But everyone's different, right? So, for example, like if someone's looking to buy a rural property with only one or two acres, they might have to buy first. But you have to let them know, like: You are going to; like: This is what the market was in February, March. This is what it is in April, May. So, as long as you're cool with this, and you know this is what your number is, subject to it going down maybe a little bit more, you're cool with it all day long. Let's go. You're not - sell first all day. So, the question that you're going to get is: Oh, well, why? Well, I'm scared that I'm not going to find anything. I totally understand. That's a great reason to be scared. However, let me ask you a question now. Are you seeing properties that you do like now? If they say: Yes; perfect. How many are you seeing? More than five or more than 10? More than five? Then guess what? You're fine because more inventory is going to come out. So, sell now, let's get it going, have a 90-day close. And then let's get it going. So that's what it is, right? Like, it's just like, you know, you can tell that we do a lot of deals, and that's why I really have an answer for anything that comes up. Not everything because, you know, there are things that I haven't gone through personally, but I pretty much understand what needs to get done, right? So, that's what I think. I'm just going through some questions here. Like, Michael over here, what do you do with leads who block your numbers when they sign up? Either: a) call with a different number, like your cell number or your Twilio number, or just move on. They're just not a good lead, right? So, that's what I would do. And just, like, be direct. It's okay to be direct.

 

Crystal:  35:23  

You can do emails, too, right? So they, some people, their phone just blows up, right? And they don't want to get contacted over and over and over again, so they just block numbers, right? So, communicate through email. Again, just let them know that it's okay if they're just browsing. I'm not here to sell you anything. I just want to be able to offer exactly whatever it is that you're looking for. 

 

Nick:  35:48  

Totally. And that's what it is. So, I know it's tough. But yeah, I think that if you're direct and you know what you're doing, like, people will follow through and do what you got to do, right? If they don't respond and guess what, man?

 

Crystal:  36:01  

Just leave them. Don't take them off the searches because they might come around, right? It's not inconveniencing you to keep them on the search. You've already paid for the lead, right? Just keep them in there, and they might come to life one day; they're just not ready yet. Maybe they will never come to life. Who knows? But it's a numbers game, right? But, it doesn't; it's not an inconvenience to have them there.

 

Nick:  36:26  

Totally, totally. But what I'll do is, just because we're getting close to the end, I am… Oh my god. Okay, I am going to just make one call because I know I haven't made a call yet. I've been talking more theory, so I'm going to try and make one call right now just to give you guys some more perspective.

 

Voicemail:  36:53  

Sorry, I couldn't take your call, but if you leave a message…

 

Nick:  37:51  

No one's answering me right now. 

 

Crystal:  37:52

It happens. It's always a numbers game. You never know who's going to answer.

 

Nick:  37:59  

Exactly. 

 

Voicemail:  38:37

You have reached Emily. Please leave your message after the tone. After leaving a message, you can hang up or press ten for more options.

 

Nick:  38:47  

Hey, Emily, I hope you're doing well. It's Nick Moretti giving you a shout. Just wanted to thank you so much for coming onto our website on morettirealestate.com. And I just wanted to make sure that you were able to find what you were looking for. My direct number is 416-559-5301. Please feel free to call me back or send me a text as this is my direct line. I understand that you're probably in the information stage. My goal is just to set up your criteria, just so you can see what you're looking for on the market because there are lots of opportunities right now. So, take care, and I look forward to chatting with you soon. Bye.

 

So yeah, like not a lot of people; I just want to see if I get one person. 

 

Abby:  39:58

Well, hello there. 

 

Nick:  40:00

Hey Abby, how are you doing?

 

Voicemail:  40:02  

After leaving a message…

 

Nick:  40:04  

Oh, just a joke? That was a good one.

 

Crystal:  40:10  

That was funny.

 

Nick:  40:23  

I'll try calling this one. If not, then it is what it is.

 

Pamela:  40:39  

Hello? 

 

Nick:  40:40

Hey, Pamela, how are you? 

 

Pamela:  40:42

I'm good. How are you?

 

Nick:  40:43  

I'm good. I'm good. It's actually just Nick Moretti giving you a shout. Hey, how's your morning going?

 

Pamela:  40:48  

I have COVID, actually, so I'm really not feeling well.

 

Nick:  40:56  

You know what, I'll give you a shout back later on. But I hope you feel better. 

 

Pamela:  41:00

Thank you. I've had it since Friday. So, I'm hoping it is going to end soon. 

 

Nick:  41:03

Yeah, do you have, like, a sore throat because I had it back in December. So, like, for me, like, it was a sore throat that was really, really bad. And then my wife had a really, like, bad congestion in her nose and like, not in her chest, but more nose and like, kind of, that kind of stuff there. Are you feeling similar stuff?

 

Pamela:  41:20  

Yeah, like a sore throat a little bit, but I just feel, like, headache, and I feel tired, and I am not one to sit, but I'm, like, I can't even, I don't feel like doing anything. I'm just tired. 

 

Nick:  41:32  

Yeah, I bet. And it feels like you just got hit with a train, right?

 

Pamela:   41:35  

Yeah, and I didn't sleep well last night because I was; yeah, I wasn't doing very well.

 

Nick:  41:40  

Well, you know what? Yeah, well, I hope you feel well. What really helped me was taking Gatorade and really just taking medicine, like, just like over-the-counter medicine, just made me pass out. Just sleep, you know? Yeah. Yeah. Yeah, I hope it does, too. And, you know, if you need anything, let us know. But other than that, I'll give you a shout maybe in the next week, if that's okay with you? 

 

Pamela: 42:02

Yeah, sure. That's fine. 

 

Nick:  42:03

Okay, cool. No problem. Feel better, bye. 

 

And I think that's just what it is, right? Like, just like, you know, she told me she had COVID. How many people would just hang up on her right there? And, you know, it's just, you know, building that relationship where it's just like: Oh, well, you know, it sucks. I've had it. How are you feeling? Like, just as a friend, right?

 

Crystal:  42:25  

No, absolutely. Having a little bit of a conversation without going into too much.

 

Nick:  42:37  

I'm just writing now. Yeah, so like, for example, I just put like, you know, not feeling well. Has COVID. Follow up next week. So then, I would always put a task - follow up with Pamela. I would do it next week. And then, this is already connected to my, what's it called? Calendar. So then, next week, I will already have, you know what I'm saying? Like, I already have, like, a message to say - call her, so it's a good reminder. But yeah, that's basically about it.

 

Crystal:  43:25  

Even leaving the note that, you know, she was sick and being able to refer back with: How are you feeling? We spoke. You were a little bit under the weather. How are you doing?

 

Nick:  43:33  

I have someone else calling me right now.

 

Hi, Rachel, how are you? 

 

Rachel:  43:39

I'm good. Thank you. 

 

Nick:  43:42  

Yeah. It's actually Nick Moretti giving you a shout. I actually just called you just to thank you so much for coming onto our website on morettirealestate.com. And I just wanted to make sure that you were able to find the homes that you're looking for. I understand most people who come on are just in the information stage. So, I'm not here to try to sell you on anything at all. I just want to make sure that you set up your criteria correctly because there are a lot of opportunities right now in the market.

 

Rachel:  44:08  

I can't remember what website it is.

 

Nick:  44:11  

No worries, no worries. So, basically, what I have down here is that you're just, kind of, looking in Oshawa, and it looks like you're looking for a rental possibly.

 

Rachel:  44:20  

Alright. Give me one moment. 

 

Nick:  44:23

Yeah, take your time. 

 

Rachel:  45:22

Hello?

 

Nick:  45:23

Hey. Yeah. So, I just wanted to make sure that you were able to find what you're looking for here, right? So, are you looking for a rental? Or are you looking to purchase? 

 

Rachel:  45:32

A rental.

 

Nick:  45:33

Okay. So, are you just looking in Oshawa?

 

Rachel:  45:39  

It would be ideal, but like, I'm not stuck there.

 

Nick:  45:42  

Okay, what areas of interest are you looking at?

 

Rachel:  45:48  

Oshawa. Ajax maybe.

 

Nick:  45:52  

So, Ajax-Whitby kind of thing? 

 

Rachel:  45:53

Yeah. 

 

Nick:  45:55

Okay. And then what was your budget that you're looking to put in? Because I see that you put 25 to 28? 

 

Rachel:  46:00

Yeah, that's it. 

 

Nick:  46:02

Okay. Okay. No problem. So, what I'm going to do is I am going to update you on what's available. Are you only looking for three bedrooms? Or are you just, kind of, looking to see whatever else is out there?

 

Rachel:  46:16  

I'm looking for three or four, really. 

 

Nick:  46:20

Okay. Okay. 

 

Rachel:  46:21

See what that is.

 

Nick:  46:22  

Yeah. Okay, cool. So, what I'll do is I will add you to that list there, with three, more than three bedrooms from, you know? Are you only looking for condo townhouses? Or are you looking for a, kind of, anything?

 

Rachel:  46:34  

I don't want to have to share anything with anybody else, which is what's causing my problem. So, anything that can hold my bed? My bed is pretty great.

 

Nick:  46:47  

Yeah. Do you have a king size? 

 

Rachel:  46:47

We don't have a king size, but apparently, rooms aren't made for that. 

 

Nick:  46:51

That's so funny. I know what you mean. Okay, cool. So, what I did then is I actually just, I kind of gave you the whole shebang. I just attached condos, detach, semis; just to give you a little bit more information about the market right now, about, you know, how much things are costing. So, I will forward that off to you. It might go to your junk mail the first time. So, I would just take a look. And if you see anything you like, feel free to reach out to us, and we'd be happy to help you out. 

 

Rachel:  47:19

Okay, cool. 

 

Nick:  47:20

Cool. Well, Rachel, thank you so much for all your time. And thanks for giving me a shout-back. And I hope you enjoy your day. 

 

Rachel:  47:28

Thank you. 

 

Nick:  47:29

Yeah, my pleasure. Talk to you soon. Bye.

 

This was a rental lead. So, like, I was just showcasing, like, the questions to ask. So, you know, I just made, I already just updated criteria and sent it to her. So, that's kind of where it's at, you know? So, I use my phone, just; I usually use the dialing system here. But every time I use a dialing system, and I tried to do it on these live calls, it's just there's always a delay, or sometimes the client that I'm talking to will be like: Are you there? I can't hear you. And then it just ruins the whole momentum of the conversation. So, I just do it more; so, just to do it for the calls here.

 

But that's kind of it, to be honest with you. Am I the only one here? 

 

Crystal:  48:25

Sorry, I was muted. Sorry.

 

Nick:  48:28  

Oh, no worries. So, that's kind of it. But I like to use my phone sometimes for, depending on who calls or whatever, just because I can text them right away. So it makes things a little bit easier for me. But I mean, it doesn't matter. You can text on the system, too, right? So, it doesn't matter.

 

Crystal:  48:45  

Yeah. Yeah. And yeah, just with your phone and internet, there was a lot of disconnect. So, that's why…

 

Nick:  48:51  

Living in the country. So, with the people who unsubscribe, I actually call them, and I just am straightforward. I go: Hey, Crystal, I hope you're doing well. I saw that you unsubscribed from the list. Did you unsubscribe just because - did you find a solution? Or was it just because I wasn't sending you anything? Or were you just over all the emails that you're getting? Because sometimes they just are over the emails, but they still have a need. So, that's what I would be doing. Did you guys have any other questions or anything at all based on, kind of, like, you know, what you guys are going through or any problems that you guys are having? No?

 

Crystal:  49:47  

Doesn't appear to be. Do you find if there's a certain time of day that you're calling, Nick, that you're getting more people responding to you?

 

Nick:  49:52  

I think Thursday or Friday usually is pretty good, but I mean, honestly, I wouldn't get in the habit of doing Thursdays and Fridays. Just because the thing is, usually, Thursdays or Fridays, you are showing houses, or you're doing stuff like that. So, it's hard to, you know, block that time for you to make calls. I think that you should just get on a schedule and call. That's it. It doesn't matter when you're calling. Just call because people will call you back or whatever, right? I usually like to do my morning shift, sometimes in the evening, if I'm just, kind of, over tired of just doing the morning stuff. So, I would just switch it. Like, do; like, if you're going to call five days a week, let's say for two hours a day, then I would try three of them in the morning. And then I would try some of them in the afternoon. Obviously, evenings are a little bit better, because more people are home. But also, too, when more people are home, they might not want to talk to you. 

 

Crystal:  50:52  

Like, you know, a long day, it's like the last thing they want to do is talk. And sometimes it's not even anything about you. They just want to talk to anyone. They, you know, people are calling them, like, they're just disconnected. They just don't want to talk, you know? I'm done, right? So, it's just - switch up your call times, really, because all of your leads, when you guys look at your dashboard, they're all coming in at all different times, right? So, everyone's availability is all over the place as to when would be an ideal time to catch them. Because we all have different working hours, routines, obligations, right? Our free time looks different every day. So, just switching it up, you're going to have a better chance of catching more people on when you are calling, just because of that.

 

Nick:  51:35  

Right. I mean, I don't really like to call right away because I feel like I'm a creep. And I feel like it means that I'm waiting on them to walk through the door. So, that's just me. I usually call within 24 hours. I don't really like to do that. I would call them, yeah, exactly tomorrow morning. Or if they start hitting you up with text messages, just text back and forth and schedule a call for tomorrow. I think what's super important is, like, really important, sorry, is schedule your calls for the next day. If someone's not available right now, or, like, you caught them at a bad time, like: Hey, I totally understand, can I give you a shout this time tomorrow? Or is there a better time that works? Like, that's, kind of, what I'd be saying, to be honest with you. And I would start booking your calls for the next day. Because then that means that you already have calls for the next day. So, when those calls go well, then you're on, like, you know, high motivation. So, then you can start calling other leads. And, like, if they are aholes, and it doesn't hurt you as much, because, just like: Frick you, I already had a good conversation. So, yeah, I do. So, actually, what I learned from Crystal is that you can take your mortgage agent as, like, something on, a lead that comes in so that your mortgage agent has access to the lead that you tag them in and has all that information and has all the notes and then you guys can go back and forth on the notes. So, this is really good if you're trying to build a referral with your people. Because then this knows how many leads you've captured, and you just don't forget three months later. 

 

Crystal:  53:20  

Yeah. Well, there's also that idea. Like, if you're working closely with a mortgage rep or several, in some cases, right? Just depends on, you know, there's a lot of agents, mortgage agents that specialize in different things, right? So, you might give one guy one lead and another guy another lead. But if you also got, if they're also wanting to make a deal happen, they're wanting to get that mortgage approval for them because that's how they're going to get paid, right? So, but they're also going to want to make sure that this person actually buys something and actually uses that approval towards securing something. So, they're going to be that second person that's also going to be following up with that lead as well, right, encouraging them. So, you've now got two individuals, yourself and another professional trying to get this person into their next home.

 

Nick:  54:12  

Exactly, which is really nice. And plus, too, like, depending on how you set up your stuff with your referrals. For us, like, if we give someone three or four deals or leads, we expect to have one hot one back. So, this is a great way of how we connect with our referrals here and how we get everything set up and organized properly. Because that's a problem. Once you start upping your budget and you start getting, you know; once you start getting some wins and you start closing deals, and you're upping your budget, so many leads just come in. Like, so many leads come in. So, it's important to learn how to, like; I think what's super important before you up your budget is already, like, learning your system and how you will filter and how fast can you filter everything because if you're going to just keep getting leads, and not really following up with them, like, you're wasting your money. Why don't you just, you know, spend the $500 and do client gifts, and then go and do Popeyes and stuff for them. So, that's kind of what it is. So, I closed my first deal, I think, in 30 days. But remember, like, when I, like, I built my business on online leads, so I already know. But, like, when I first started about 30 days; because I just kept calling. I'm not, like, that type of person that if I keep getting rejected, I'm not going to not call anymore. Yes, I do door-knock. I almost have three listings side by side because of door knocking.

 

Crystal:  55:46  

And really, with your deals, a lot of it is, you know, your ability to talk to somebody on the phone and your confidence and your knowledge. The other is, really, it's kind of the luck of the draw of who's coming to your website and where that person is in the process. So, it's always going to be different. I have, you know, a client, actually two of them now. Their very first lead, they're out showing properties and sold them something. So it's, you know, and those are what I call the unicorns, right? Like, that's amazing, but you can't, you know, those are high expectations, to think that that's going to happen all the time. You got really lucky on that one. And it's amazing, but you know, the others are; I can guarantee it's going to take work to get them across the finish line.

 

Nick:  56:32  

Yeah. And, you know what? Like, that's the thing. Like, you know, when you're calling, and you're working hard, like, you know, I personally believe that it will come faster to you. And like, if you're working hard for it, like, life is going to give you that little crumb, you know? So, for example, like when Kayla's calling so much, showing like a solid a week or two weeks of like, literally hounding the phones, and you know, like, I know what it is where you kind of get emotional about it, where you're like: Frick, man. Like: Why isn't anyone, like, ready to work on things? What am I doing wrong? And I'm like: Listen, Kayla, it's not that you're doing anything wrong. Everyone has their own timeline. So, all you have to do is just keep being in that sphere of just calling them and chatting with them and building that relationship and everything that will happen. And generally, I tell them, when you're working hard, God will throw you a deal. I promise you. And then usually a couple of days later, one of those leads will call back, and, like: I'm ready for a list. I'm ready to buy. 

 

Like, so it does happen, you know? And Michael, that's good that you did three deals from one lead. The max I've done was five from one person. So, they're out there. And then they keep referring you. Like, one of my leads, I should have sold their house and bought with them. But they had a personal connection with someone even though that connection wasn't the greatest realtor for that person. And based on their timeline, they still chose to go with them because they had a personal tie with them. Learned that, and also, they wasted my time. I had to take them out, show properties because we had an understanding that we were working with one another. So, that one was a tough one. Okay? But then what happened was I didn't burn the bridge, which was really hard to do. I didn't burn the bridge. I was still nice. And then she referred me to her daughter who bought last year. Then, unfortunately, that daughter broke up with her boyfriend. So, you know, a blessing in disguise for them. But then I sold their property. Then I got referred to their grandparents, that bought and sold. And then, now they're looking to buy and sell again. So, it, just, like; you just don't know. And as long as you do your job, right? Guess what? They don't need to go somewhere else. And if you build the right relationship, they're not going to need anyone. Like, now, seven years in, I just get calls, which is really nice. But, like, it's from calling and, like, grinding for seven years straight.

 

Crystal:  58:46  

And they will come, right? So, it's, they come out of nowhere sometimes, right? And they'll also just respond to an email, and you're like: What? Yeah.

 

Nick:  58:56  

So, I think it's just, you know, it's just, like, working on your scripts. Like, that's just what it is. Like, Janelle, who is on this platform right now, he's our new hiree. We're just waiting for his stuff to get ready. But basically, he's, before everything's happening, he's learning how to script. He's joining these calls. He's hearing; he's coming to the office hearing me speak business. Like, he's, you know, he's listened to me and Kayla, right? Like, that's just how you have to do it before you start doing the work. Because if you don't know how the conversation is, like, it's going to be harder for you to close deals. So, scripting, scripting, scripting. If you don't have anyone, reach out to someone that will script with you. Even if you do a 10-15 minute, like, you know, kind of, role-playing, which is awkward, but get over it and make sure that you are saying the things correctly. And then, once you started building and you're consistent on calling, everything just comes to you. 

 

Crystal:  59:50  

Listen to your recordings. That's also the benefit of using Twilio, is listen to yourself. Listen to that call, you know? Make notes on what you could have said differently or what you could have said in addition because that's where you'll also learn and, kind of, where, you know, where to kind of throw different hooks into that conversation.

 

Nick:  1:00:09  

I totally agree. 

 

Crystal:  1:00:13

Awesome. Well, it was a good chat today.

 

Nick:  1:00:18  

Yes, it is. It is, it is. Well, thank you guys for joining. Remember, you guys can find me on morettirealestate on Instagram or just send me an email or text. But, thank you, guys, so much, and I hope you guys have a great day. 

 

Crystal:  1:00:30  

Thank you. Bye, everyone. See you in a couple of weeks. 

 

Nick:  1:00:32

Yes, bye-bye.