It takes a long time to get from humble beginnings to where you are now. What
Speaker:would you say would be the number one attribute that's driven you to that position? The
Speaker:key ingredient, I think, was actually... There's so many people, the first challenge
Speaker:The most important thing, you've got to be adaptive, resourceful, innovative and
Speaker:There's lots of talk at the moment about AI. Could you see a future where you
Speaker:perhaps have AI standing at the door of an open house, taking
Speaker:Not yet. There's a lot of key things they've got to get right that
Speaker:I'm Matthew Fraser and this is Amazon Ecom
Speaker:Secrets. I'll be sharing with you the secrets that helped me go from
Speaker:millions in debt to an eight-figure entrepreneur. If
Speaker:you're ready to escape the nine-to-five and live life on your terms,
Speaker:let me show you the way. Hey, guys. Welcome to Amazon Ecom
Speaker:Secrets. My name is Matthew Fraser, and today we've got the
Speaker:number one real estate agent and agency
Speaker:in Australia, Tate Brownlees. Join us in the house, and
Speaker:he's going to be sharing his insights into the real estate business and
Speaker:Thank you. Thank you. Glad to be here and really excited to really delve
Speaker:deep on a lot of hot topics today. I think we're going to cover off AI,
Speaker:what you're doing with Amazon, the metrics of business, marketing.
Speaker:You can say whatever you want, mate. You
Speaker:can say absolutely whatever you want. I guess, look, at the end of the day, definitely
Speaker:come from humble beginnings, started in a caravan park, did
Speaker:my license. It was night school back in the day for 12 months and
Speaker:just went really, really hard, worked, had an insatiable work
Speaker:ethic. I think that made a big difference at the beginning and met my
Speaker:beautiful wife. Not long after we set up, it
Speaker:wasn't Tate Brownlee Real Estate, it was actually called The Estate Specialists. Yeah,
Speaker:I had a business owner. I must have missed that one. You did, you did. Yeah, I had a business owner
Speaker:as well, Loretta Trevan. Hi, Loretta. I'm sure you'll get a
Speaker:chance to listen to this and reminisce a little bit too, but that's
Speaker:where we started. Unfortunately, she had some things personal
Speaker:that were going on in her life and unfortunately couldn't continue the journey. You
Speaker:know, I met Kristen not long after and had
Speaker:to pull her out of hairdressing. And it was interesting, first day
Speaker:on the job, she's trying to work out the difference between cutting in hairdressing
Speaker:and cut and paste in, you know, computer terms. Was that her
Speaker:background? I had no idea. Yeah. Yeah, it was her background. And
Speaker:she was an absolute whiz straight off the bat, which was really lucky. And, you
Speaker:know, she got the, you know, the old throw at the deep end and took
Speaker:So you're a big player in this region and I've known you for over
Speaker:a decade now. And for those who
Speaker:are listening now, I've actually bought a property that
Speaker:you sold and I've also sold a property through you. So
Speaker:we've had both sides. We have both sides of the coin. But
Speaker:a lot of people see you've got your face on billboards and bus shelters and
Speaker:letterboxes obviously, but you just touched on before you came from a caravan.
Speaker:Yeah, it was down in a place called Drifter's Holiday Village. It's now called
Speaker:Ingenia. So, you know, just down in Chindra there. Coincidentally, in
Speaker:2005, it flooded as well, which is pretty wild. So, yeah,
Speaker:it was a very interesting start to living on the Tweed Coast. And
Speaker:during that period, working in real estate and just obviously learning the craft,
Speaker:but went from that to, unfortunately, my
Speaker:stepmother had cancer at the time, so they were doing the Grey Nomad thing,
Speaker:thought I'd get into real estate. That was the time, I
Speaker:think, where I went, you know what, I really want to delve deep into sales. It
Speaker:was either real estate or car sales. And standing on a pavement with
Speaker:hot weather didn't really interest me. So real estate got its shot.
Speaker:So when you say you come from humble beginnings, it's because you
Speaker:Yeah. Look, I think I had a really good upbringing in my family.
Speaker:I definitely got the opportunity at school and things like that. But
Speaker:I think just it was old school. My parents were
Speaker:a bit older. They gave me really good support and encouragement,
Speaker:but left home at 17 and then went out to rule the
Speaker:world, as most young males do, or young
Speaker:People see you now as this super successful guy.
Speaker:like two offices now in the Tweed region. And
Speaker:obviously all through letterboxes, as I said before, you're on
Speaker:billboards everywhere, but there's obviously a side of you
Speaker:before that. It's not an overnight success, right?
Speaker:It takes a long time to get from, like you said, humble beginnings to
Speaker:where you are now. And so what would you say would be the
Speaker:Well, I always joke about it, Matt, that it was an overnight success that
Speaker:took 21 years. So yeah, look, probably the
Speaker:key ingredient, I think, was actually going through that journey. I
Speaker:feel it built a lot of character. It definitely increased
Speaker:my drive. I think going through the battle with my stepmother, I
Speaker:was really close with her. I had a lot to be thankful for. I was a bit of a wild kid. So
Speaker:she was really good at guiding me to qualify to get into university and
Speaker:things like that, whereas I nearly dropped out in year 11. So that was a lot too. Did you
Speaker:Isn't that interesting? Because a lot of people who are
Speaker:success stories don't go to university. I did
Speaker:one day at Bond University and then I was like, I'm out. That
Speaker:No, it wasn't expensive at all. I think I bought a jumper though.
Speaker:I bought the pullover jumper that had Bond Uni on it. I was like, I'm fully, I'm all in.
Speaker:I think that made a big difference to me going through that
Speaker:battle. I always joke about it, but it's true. You
Speaker:go through something really traumatic in your life and towards the end I
Speaker:moved back home and lived at home since I was a kid. So to
Speaker:come back home and live with my father and my stepmother when
Speaker:she was basically wheelchair bound and help her go to the toilet
Speaker:and things like that when I wasn't at work and to really understand a
Speaker:different part of life and that life can be pretty cruel and
Speaker:it can be unforgiving and also to give value
Speaker:on how much time you have and that it can be taken from you. I
Speaker:think, I always joke about it, you know, you go in a boy, come out a
Speaker:man. I think that was definitely a big change for me. And then, look,
Speaker:love my dad to pieces, but he really struggled emotionally
Speaker:and mentally as well during that period. There's a There's a lot of talk about
Speaker:men's health, especially in the 60s and 70s, and
Speaker:especially if they lose a loved one. And I think that was a big factor
Speaker:there too for me. And it built a massive amount of drive. We
Speaker:were sitting not too dissimilar here, except throw a circular table in the
Speaker:mix. And I remember we had $4.50 for the week to
Speaker:live on, just after Vivian had passed, my stepmother.
Speaker:That was pretty hard, you know, and I think I was really mentally
Speaker:and physically and emotionally challenged to that period. And, you know,
Speaker:I never gave up. Like, I think that was the big thing. I
Speaker:just kept turning up and I certainly was struggling, certainly
Speaker:fighting my own demons at that point. But to come out the other side, really
Speaker:swinging hard. I remember in February I had nothing and end
Speaker:of financial, I think it was just tipping over into
Speaker:July and settlement. So suddenly, you know, rags to riches, right?
Speaker:There was suddenly about 20, 30 grand after tax just in one month that
Speaker:suddenly hit the account and, you know, I hadn't made any money for
Speaker:months. I was a commission only agent. So that really turned things around and was
Speaker:Wow. I had no idea of that story. That's amazing. Because those
Speaker:challenges come up as well, just in any business. Like, you know, when I'm, uh, mentoring
Speaker:clients right now through Amazon journey, they're all going
Speaker:through these obviously struggles. And you,
Speaker:you talked before about every day you just kept showing up and
Speaker:that's, that's basically what you've got to do on Amazon. You know, you might have a product that doesn't
Speaker:work out, but you just keep pushing through. Yeah. So
Speaker:has it been, I guess, with Kristen, your, your wife now,
Speaker:Yeah, she's been a big rock. And I guess, you know, like you may have
Speaker:noticed, even going back to that story, it's still very hard talking
Speaker:about those things, because it is raw. It's really, you
Speaker:know, the cold face of, you know, what we went through over that period.
Speaker:And I met Kristen not long after, and I'd love to say that was
Speaker:just a sail off into the sunset. But, you know, our business partner
Speaker:that I had, and she's a lovely woman, but had her own challenges, you
Speaker:know, to walk out at the beginning of the GFC and then Meeting
Speaker:Kristen, I don't do things by halves, so Kristen not long
Speaker:after was pregnant as well, so that put its own complexities. We
Speaker:just started to get on track. Lucan was born. Unfortunately,
Speaker:he had really major health issues too. We
Speaker:actually nearly lost him in 18 months. He stopped breathing. We
Speaker:found out later that all the drugs we gave him because of
Speaker:his... Just a lot of challenges with... It sounds so
Speaker:simple, right? Like tonsils, anoids, grommets, all
Speaker:those things that had to happen with him. And, you know, unfortunately
Speaker:he really struggled. So we gave him some pretty heavy drugs and we
Speaker:know now that that triggered his kidney disease later in life too. So
Speaker:we had a lot of challenges with Lucan in particular, very,
Speaker:very early in business. And I remember refinancing things
Speaker:and just tightening things up right at that point. It certainly
Speaker:slowed me down a few notches. But, you know, you
Speaker:pull through. And it was interesting, you know, we had a receptionist slash property
Speaker:manager. And I sort of said to her at the time, look, you know, she
Speaker:said, look, Tate, it's not for me. I just want to quit. And it was a
Speaker:time when Lucan actually was really sick in hospital. I said, look, can
Speaker:you just hold in for a few days? And she walked out and I was like, far
Speaker:out. Like, talk about getting a few kicks in the teeth, right? It
Speaker:was a pretty hard time. So to come around through that, And
Speaker:then I remember, you know, it was interesting, you know,
Speaker:keep backing yourself, I think was, you know, consistent, like, we
Speaker:got into property management that come with so many challenges, but we backed ourselves,
Speaker:grew a property management business, we just kept backing ourselves in the sales division.
Speaker:And I don't recommend this, but we used maybe some money that might have
Speaker:been allocated for tax to grow our business. Temporary. Right.
Speaker:And, you know, especially back in those days, a
Speaker:taxman would give you a little bit of leniency and payment plans and things like that.
Speaker:We've all been through those. And resources you can. I don't
Speaker:recommend it. You definitely don't do anything like
Speaker:that with severe caution. But we pulled through the other side and
Speaker:I remember again my next part of that journey was I
Speaker:love my auctions. I had several hundred auctions under my belt as an
Speaker:agent. I actually called a
Speaker:couple of auctions just because I couldn't get an auctioneer in 2012 and we ran
Speaker:a big event. I think it was start
Speaker:of 2013, if memory serves me right, it was right at the point
Speaker:where it was at its worst. Things were falling
Speaker:off the wheels. Buy a house in Benora Point for $275,000. You think
Speaker:you've got 10 of those? Yeah, things would die. Average time on
Speaker:market at that stage was about 180 days if you were lucky
Speaker:sort of thing. I mean, if you were lucky. I
Speaker:talked to the team because I'm big on as much as I'm
Speaker:running and leading the ship to get advice from the team.
Speaker:I had to make decisions with the other agents as well
Speaker:and I said, guys, I want to call the auctions. you
Speaker:know, zero out of ten in January for sales was
Speaker:not exciting me by any stretch and I thought, hey, at those numbers,
Speaker:it's only up. And I call it the golden gavel days. I
Speaker:actually went and I changed the whole mix for a while. I wasn't
Speaker:confident enough to call them in rooms because it's a lot of pressure, it's
Speaker:back to back and there's a lot of skill behind that and I was like, I
Speaker:felt on site, I could absolutely crush it and I just felt as
Speaker:well from a community-based perspective, it would build the brand. So,
Speaker:I went back to on-site for a while and it was actually
Speaker:the purple patch. We did 13 back-to-back, 30 days
Speaker:on the market. It was just incredible. I've never broken it,
Speaker:coincidentally. I've tried hard. You could argue in
Speaker:January this year, we sold 14 out of 16 under
Speaker:the gavel. You could argue we broke it then, but we did miss two. So,
Speaker:I still feel that that was probably the best time in my career and it was one of
Speaker:the toughest times. It built a brand where we
Speaker:were somewhere in the mix. I don't know where we really sat in the market to definitely
Speaker:standing as the number one agency. I was really proud of that. I
Speaker:felt that we had a lot of adversity and a lot of challenges. It
Speaker:was also at a time where I was a franchise and they
Speaker:decided to put another one on the corner. In hindsight, I
Speaker:think it was the best thing for me. You know, I had to look at
Speaker:other options and other avenues and, you
Speaker:know, what makes the business great. And it was when I started to call
Speaker:Yeah. Before you go to the Tate Brownlee business now,
Speaker:the new brand. There's obviously some key things
Speaker:along that storyline. And I think it's so similar to
Speaker:the Amazon business, which is what I talk about is
Speaker:building your knowledge, which then builds power. Knowledge
Speaker:equals power. And so as you've gone through those transitions
Speaker:from, and even those, those really challenging times, but
Speaker:you've just gained this knowledge, which then gives you the confidence to then
Speaker:take the next step. So everything that you've that sort of built
Speaker:up before even going into, okay, we're going to now do a
Speaker:whole kit and caboodle of Tate Brownlee real estate, which
Speaker:would have been huge at the time, you know, going outside of
Speaker:Well, I think, to be honest, I did everything wrong. I look back
Speaker:now and go, I think it's all a journey, but the
Speaker:And even, I think a lot about- When you say franchise, what do you
Speaker:Yeah, so I was under an umbrella. of
Speaker:a different franchise, like a franchise company. And
Speaker:basically, they were great in the foundations. They
Speaker:taught me how to plan for GST. Such a simple lesson, but so
Speaker:important in business because as we both know, if you haven't got the money for your
Speaker:GST and your PAYG, you're in all sorts. So,
Speaker:tax planning was really paramount in the GFC. But I remember there
Speaker:was a guy called Anthony Meeker and if you're watching, mate, you're an absolute legend. People
Speaker:like that, they're influential in your lives. They really changed your mindset
Speaker:about how to plan and run your business. There was the
Speaker:amazing Michelle Delaney. She was head
Speaker:of property management for the whole company and she was incredible. Without
Speaker:question, the best property management consultant that
Speaker:I've ever met. And that's saying a lot. Look, there's a lot of
Speaker:other really influential people we met along the journey, but she was the
Speaker:standout. And even today, we'd still pick up the phone and have a
Speaker:chat with her. And she was Kristen's mentor. She was the one that made
Speaker:her great. And so you meet
Speaker:all these people along the way. For the auctioneering, the
Speaker:legendary Phil Parker, aka The Captain. He
Speaker:was terrific. And like you said, sourcing people out.
Speaker:I'm big on that. I said to Phil, what would it cost to just
Speaker:get you one-on-one and just teach me everything? And I remember he
Speaker:came to the office one day and I probably didn't look as
Speaker:sharp. And he said, mate, If you want to run a multi-million dollar business,
Speaker:he said, you need to look sharp. Like, a little lessons, right? But
Speaker:they are everything. And it really made me reflect when
Speaker:I changed the brand, like that really resonated with me. Like, what's
Speaker:going to be the difference? What's going to be my one percenters from good to great?
Speaker:And unfortunately, like when they opened up, you know, and it's typical franchise structure,
Speaker:right? They'll open up an office in every corner. I had to make a
Speaker:decision at that time. You know, it was hard, it
Speaker:wasn't good. They were definitely going to, you know, like it's just reality, right?
Speaker:There's going to be some market share lost. You can't change that. And so,
Speaker:how was I going to react? And I was very emotional, very
Speaker:upset about it. It was very hard to take. I
Speaker:felt like my own brand had turned on me.
Speaker:I mean, it is what it is, right? Whether that was mixed feelings, whether
Speaker:it was a bit of immaturity on my behalf, I don't know. You were stabbed in the back? Yeah,
Speaker:and like was it warranted? Look, probably not. I mean, they're commercially
Speaker:making their money. I'm commercially making mine. You know,
Speaker:I look at it very differently now. But, you know, Steve Jobs, right? I
Speaker:love listening to podcasts, anything on YouTube, Blinkist,
Speaker:for people that don't know Blinkist, 15-minute short stories, like
Speaker:all that stuff really is awesome. And Steve Jobs is one of the best, you
Speaker:know? The best lessons in life come poorly wrapped. And
Speaker:I think You have two choices, you know, like you said, love
Speaker:those words, stabbed in the back. You can feel, I guess, a
Speaker:little bit selfish and poor me and victimized. And
Speaker:I think in COVID, everyone got a bit of a taste of that. You know,
Speaker:we can go the victim mentality or we can go, well, what's the learnings from
Speaker:this? Like what can make me better on a higher level? And I was like, right.
Speaker:The franchise thing, I went to another franchise, still
Speaker:pretty raw and vulnerable at that point. made another big
Speaker:mistake in hindsight when the business partnership that didn't work
Speaker:out to try and expand and grow the business. And
Speaker:that was not good either. And I guess, you know,
Speaker:like, I sound like I'm riddled with mistakes, but I guess it's part of
Speaker:the journey, right? And I remember the wife coming to me and
Speaker:she said, we really made a big mistake with the
Speaker:second business and growing. and going down this
Speaker:path. And I said to her, like, this is all on
Speaker:me. I take complete responsibility. And I think
Speaker:when you look at business, you've got a choice, right? You can blame, you
Speaker:can look at your partner and go, oh, you know, you were involved in this or
Speaker:whatever, or you can take complete responsibility. I think that was the big difference. And
Speaker:I made a decision at that point. I said, I'm going to make so
Speaker:much money in business that this is just going to be a bleep. It's
Speaker:not going to be an issue. And without going into
Speaker:the ins and outs of it, there was hundreds of thousands of dollars that
Speaker:went down the gurgler going through that journey. And it was a lot
Speaker:of strain, it was a lot of pressure, it was a lot of stress. I
Speaker:look back now, I feel for the other guy too. At
Speaker:the end of the day, it didn't work out. Again, I can say that
Speaker:he wasn't a nice person or blame, make up some story. But
Speaker:at the end of the day, I think I look at the lessons I got from that and
Speaker:that's what made us great. And I remember my
Speaker:solicitor at the time, she'd come to me, I was a franchise still, a
Speaker:different one. And she said, Tate, this is the time to
Speaker:And I'm thinking- So someone else said that to you, you weren't thinking that yourself.
Speaker:Correct. Look, we've been building behind this Tape Groundly team brand since
Speaker:2015, right? And subconsciously, I probably didn't even realize initially what I was doing. And
Speaker:then I had a great friend of mine, friends
Speaker:actually I should say, because Mark and Lisa were definitely equally involved, Mark and
Speaker:Lisa Novak that run Novak Properties. Beautiful people, run
Speaker:a very, very successful company in DY and just
Speaker:phenomenal down earth people but just crush it, right? Just the next level,
Speaker:part of the 0.1% in the industry, right? And they
Speaker:said to me like about independence and going your own brand. So the seed
Speaker:had been planted, there'd been a lot of background work building this
Speaker:plan but you never feel ready. What
Speaker:I learned when I visited them too was like to build it
Speaker:well before you want to start. So they've been probably
Speaker:a good 18 months of building this strategy. But
Speaker:it's always like then there's the, oh my God, like the reality of
Speaker:this. And, you know, there's all this money going down the gurgler with the
Speaker:business partnership that went south. You know, pressure with
Speaker:that. My mum's my real mum,
Speaker:so just not to get confused because obviously he was lucky in life to have two
Speaker:mums. She's got dementia. She's not well at
Speaker:this point. We've got a few things going on, right? And I made
Speaker:the decision to rip the bandage off and go tape around the
Speaker:real estate. And, you know, I also said to my
Speaker:wife, like, we're going to drop a couple hundred thousand. We're going to drop a
Speaker:quarter of a million on this. We're going to go all in. And, you know,
Speaker:talk about backing yourself. And at that point, at that time, and
Speaker:But just like someone who's perhaps been selling on Amazon for
Speaker:a while, they're building all this knowledge, they've been through the ups and downs of
Speaker:Amazon, because Amazon throw curveballs at you as well. And
Speaker:then you might come to a point where you want to buy an established
Speaker:Amazon business. And you might have to chuck in a couple
Speaker:of hundred thousand dollars to do that. But the only way you can do that is
Speaker:because you've already got the experience of already selling on Amazon. Just
Speaker:like what you've done, you've already had the experience of operating under
Speaker:a different franchise within real estate. And now it was an easy
Speaker:Do you know what you've touched on there, Matt? For people listening in
Speaker:regards to Amazon, and I know absolutely nothing about that business. If
Speaker:I had 0.1% knowledge, I think I'd be doing well. So,
Speaker:you know, other than obviously whatever I see. You've got the right attributes though. You've got the
Speaker:right attributes up here. Thank you. And I think if I look at that
Speaker:business, and I would imagine it's no different to any business, If
Speaker:you've got the money, and I think this is the problem with a lot of new business, right? If
Speaker:they're like me, I always joke about it but it's so true. I
Speaker:started the business on the smell of an oily rag. When the business partner walked
Speaker:out, I refinanced my property through the last 40K
Speaker:into the business and then it was sort of like sink or swim. Then you're
Speaker:sitting there in the GFC going, Jesus, is it even worth what I've just pulled
Speaker:out? I might end up selling it for less than what I… Luckily, that didn't quite
Speaker:happen. We just got out in front, but it could have, right? I
Speaker:think the biggest lesson is that backing yourself,
Speaker:but also too, what you said is so, so key. I think there's
Speaker:been a lot of wealth created in the last three
Speaker:or four years, especially in property. If people have got property, they've got
Speaker:equity, they've got resources that they didn't have before. I
Speaker:feel that if there was an Amazon business where you
Speaker:can get the leg up or Like, say, hypothetically, a
Speaker:Well, it's like what you're doing now where you're acquiring rent rolls. Correct. You're
Speaker:buying. So those who don't know what that is, you might want to say it's basically an
Speaker:Correct. And I often think, you know, what's more valuable? And I thought
Speaker:when I started this, it was the property management, right? Oh, you get the property management.
Speaker:Now I'm starting to think, is it the team? Is it the people? If you
Speaker:get the right people, And this is interesting, right?
Speaker:Things that aren't talked about in business, right? Currency. What's
Speaker:currency now? In a labor crisis that
Speaker:isn't openly discussed, right? Are you going to say brand? No.
Speaker:Surprisingly, I think the biggest currency right now is actually people. I
Speaker:think the value, and what I mean by currency is that the value and
Speaker:the worth, and not necessarily just monetary right, but
Speaker:value of your business is people. I mean, you've got
Speaker:a pretty, with respect to autonomous business that can high
Speaker:scale minimum labor content. There's a totally different structure,
Speaker:but for businesses like mine and for the average business you know, stereotypical Australian
Speaker:business out there. You know, you've got to have a team. You've
Speaker:got to have people. And I think in a business now,
Speaker:like it's interesting, right? I was reflecting on this the other day. What
Speaker:can I do to build culture in my team? And I think culture is
Speaker:a word that's thrown away way too comfortably. What
Speaker:about going, okay, we're going to have a Christmas party, but
Speaker:I'm going to book my Christmas party in June. We've
Speaker:just booked this awesome boat. We're going to sail out. It's really
Speaker:awesome. All the things that I used to dream about when I was living in the
Speaker:caravan park that I was going to do with my team. And I'm like, I'm going to
Speaker:do that. I'm going to book that now. I'm going to send it out to my whole team. And
Speaker:we're doing it in late October this year because it's going to be a short
Speaker:end to the year. But put it out to the team. Get them excited about
Speaker:it so they've got something to look forward to. What can you
Speaker:do to make your team excited about the journey that they're coming?
Speaker:So there's like, hey, there's these mini little destinations along the way. They're
Speaker:exciting. They're fun. We're talking
Speaker:at the moment about maybe just even doing a lawn bowls on a Sunday, build
Speaker:culture with the team. We have a dinner, we just
Speaker:had a dinner actually. We had a big real estate hour at conference which is
Speaker:the Australian Real Estate Conference. What things are
Speaker:key to make your team feel great? Like your team,
Speaker:you know they talk about customers. Your customers start with your team and
Speaker:Yeah. But that whole story now scares me. because
Speaker:now having an Amazon-based business. Someone
Speaker:said the other day on one of the comments, they said, oh, Amazon, I
Speaker:think you've missed the boat on Amazon if you're going to join now. I
Speaker:said, dummy, dummy, it's not an
Speaker:Amazon business. Yeah, it's an Amazon based business. Amazon is
Speaker:purely a distribution model. That's all it is to help you
Speaker:get more product out. Now, you can either tap into it and use it or
Speaker:not. And considering it's like one of the number one distribution
Speaker:models in the world, do you want to be in it or not? So if
Speaker:It's interesting you talk about that. Whilst we've had no dealings with Amazon, we
Speaker:create a lot of opportunities and
Speaker:we find a lot of opportunities in the market in terms of branding. Touching
Speaker:on branding in regards to what you're discussing, we order everything
Speaker:from our pens online. I've got a local distributor. I try and
Speaker:keep it Australia-based where I can. I love to see Australian money in
Speaker:Australia. Everything where we can, we buy them locally. Our
Speaker:gift bags are bought locally. Look, I'm not saying they don't get
Speaker:manufactured in China. I think it would be, you know, poor Dick Smith. I
Speaker:Right? And that's the problem. And I mean, poor Dick Smith. I mean, he tried, right?
Speaker:I love Dick Smith. I worked for Dick Smith Electronics when I was a kid. It was actually my first
Speaker:sales job and what he stood for. But unfortunately, you
Speaker:know, manufacturing in Australia has been lost. Hopefully, it comes back, but
Speaker:we'll see. But I think realistically, what you're saying is
Speaker:so true. I think about it
Speaker:when I started real estate. Oh, realestate.com's come.
Speaker:Real estate's over. They won't be the real estate agent. The real estate agent,
Speaker:the main reason you pay the agent is to bridge the gap. You pay
Speaker:them to negotiate between the buyer and seller to get a premium price
Speaker:for your property. That will never change. When there's human
Speaker:beings behind it, and we'll definitely segue into AI very
Speaker:shortly, but that part is so relevant now as it is at
Speaker:any time. Whether it's AI, whether it's Amazon,
Speaker:whether it's real estate, whatever it is, there'll be tools that
Speaker:come out that get excited. AI in itself is a business.
Speaker:There's opportunity with that. Amazon is a business. There's opportunity with
Speaker:that. But there's also these products
Speaker:and services like AI, Amazon, all these things that
Speaker:come out. It's like, who's going to be the forward-thinking person
Speaker:to create an exciting model? You only need to look at Elon Musk
Speaker:for this. Who's going to be that forward-thinking person? Actually,
Speaker:interestingly enough, if you look at Elon Musk's disk
Speaker:profile, he's actually called the architect. High dominant but
Speaker:high compliance, interesting mix. So, very,
Speaker:very detailed, very, very calculated but off the charts
Speaker:with drive and ambition and all those things, right? And they're the
Speaker:people that are going to take Amazon like you have, seize it
Speaker:Oh, that's all I'm doing is leveraging Amazon for distribution. You touched
Speaker:on before about when realestate.com came out and everyone
Speaker:got scared about there's going to be no real estate
Speaker:agents. Well, I just saw a report the other day that said that people are
Speaker:now going back to bricks and mortar retail stores. So they're getting sick
Speaker:of shopping online and actually want to go out for the, it's now become a
Speaker:novelty to go to a shop and have the experience of
Speaker:walking into a store and seeing people and mixing with people. Isn't
Speaker:that fascinating? So now there's this sort of like migration back.
Speaker:Now, I don't know if it's going to be as big as the transition of what perhaps the
Speaker:online businesses took away. But if you look at something like I
Speaker:Right. I was just thinking the same thing, man. You were in my head. Yeah?
Speaker:Yeah. What a legend of a guy. And it started off in the markets, right? At Carrara Markets,
Speaker:Yeah. It is a great story. I freaking love it. Yeah. But
Speaker:I thought he didn't have that many stores. It was like, I think a store on the Gold Coast, maybe
Speaker:a store in Sydney, and I think a really big store in Las Vegas. That's
Speaker:right. And I thought, but those stores alone, Because I
Speaker:think he netted something in the vicinity of $300 million. I think it
Speaker:was $600 million, including shares or something like that. Now,
Speaker:those three stores alone wouldn't have given him that result,
Speaker:that sellout. But what it was was the online presence.
Speaker:And I would love to know what the figures were, but I'm going to say that his online
Speaker:business dominated the bricks and mortar.
Speaker:I'm just guessing there, but that would make sense why his
Speaker:But let's delve deep with that. It's interesting, right? I think about this a
Speaker:lot. So the way he's marketed
Speaker:his brand, right? Did the shop fronts, and
Speaker:this is something we can never work out the exact metrics on it, but I think it'd be off
Speaker:the charts. How many people walked past
Speaker:the brand, tripped over the brand, whatever you
Speaker:want to call it, somewhere along the lines, walked into a shop,
Speaker:saw it in some sort of marketing tool that he used, right? And
Speaker:then went online. So like, I'll often, good example, right?
Speaker:I've been to Culture Kings shops coincidentally a few times.
Speaker:Do you know what, Matt? True story, never bought anything there. But online, hey,
Speaker:Absolutely. Jealous. Yeah, yeah. I
Speaker:just wanted to go back into the 90s, right? I love those. Yeah, it was
Speaker:like my favorite shoe that I never got as a kid. Mom was like, why
Speaker:are we wasting money on expensive shoes? And so, you know, the old nostalgia.
Speaker:Oh, totally. Yeah, one of these Reebok pumps. And they're
Speaker:That's why I've got these on. These are like 92 model Air Max BW
Speaker:I remember when MJ, Michael Jordan, he said about his
Speaker:shoes, he put on his, whatever they were, Air Jordans, the 1989 model
Speaker:or whatever they were, and he said like in the last game he got, well
Speaker:whatever it was, 28 points, 30 points, whatever the legend did, right? And
Speaker:it was interesting, he goes at the end of the game, like he had blisters and sores, he's like,
Speaker:how did I ever wear these shoes, right? Because the quality of the shoes had
Speaker:come such a long way. But what a story, right? And I
Speaker:think those stories are what we remember as
Speaker:kids, right? We grew up and the basketball era was really
Speaker:taking off. You know, the Bulls were just dominating, you
Speaker:know, and it was a really exciting time. Michael Jordan was
Speaker:the goat, still is the goat as far as I'm concerned. But the
Speaker:things that he did, and it comes back to branding, right? And I think that's
Speaker:where Culture Kings really got it. They took people like Michael
Speaker:Jordan and they got it. They went back in time and
Speaker:they hit all these different markets and didn't single out
Speaker:and just go, let's make it for 20 something. Here we
Speaker:are at that other end and we've got kids and
Speaker:things like that and we're buying the gear there. You're
Speaker:not capping out a market either. I think it was really interesting the way he saw
Speaker:the big picture and he saw the big picture from day one when he was in that Carrara markets.
Speaker:He had that vision. I was actually lucky enough actually at the Southport School,
Speaker:they had a business lunch and actually heard
Speaker:his story. It was unbelievable. So,
Speaker:you know, he got down and talked also about how important
Speaker:your mental health is. He actually does that, was
Speaker:He's got his own- He said cryotherapy. I was like, he's
Speaker:Is that therapy? But he literally has his own get
Speaker:up. I think it's 180G or something. He's just dropped it in there, so if you're lucky
Speaker:enough to buy his house. I think if I heard a memory, It
Speaker:might have even been on the market recently, but if you buy his house, you get that. It's
Speaker:Let's go back to the branding, though, because this branding is so important with
Speaker:Amazon, your Amazon-based product and
Speaker:your listing. You said before that someone said to
Speaker:you, you've always got to look sharp. That's the same with your Amazon
Speaker:product because someone can only go to the Amazon website and that's their first
Speaker:taste of your product. The images, you
Speaker:can't touch the product. You can't pick it up and feel it.
Speaker:So the images have to be unbelievable, which is the same as, I guess, you
Speaker:know, your presentation has to be unbelievable. When you walk into your real estate
Speaker:office has to be unbelievable. When someone picks up your brochure. And
Speaker:I know from a fact, because I receive your brochure in the mail, there's
Speaker:your brochure and usually for some reason, I don't know if this is like some sort
Speaker:of conspiracy, but they always put all the real estate agent ones together. So
Speaker:you get like five different real estate agents in one day. And
Speaker:your brochure is always just
Speaker:leaps and bounds above everybody else's. There's people in there that are still printing in black
Speaker:and white. I know, right? I'm like, what are
Speaker:they doing? Are they trying to save money by presenting a
Speaker:It's interesting. I thought about this when we launched the circular
Speaker:signboard. Starting from the beginning and working through, a lot
Speaker:of agents had a lot of different ideas about doing different things. Then
Speaker:they've looked at the cost and then they've gone, there's no way we're going to do that,
Speaker:right? It's interesting you mentioned the, and I'm guessing you're talking
Speaker:about the booklet we do with the rundown on the performance in
Speaker:the area. So we do one for the Tweed Shire. We also do one for the
Speaker:Which is also in that, though, Tate, it's not just you having
Speaker:obviously a sales pitch for your office and the listings, but
Speaker:Correct. Correct. And that's what it's more about. And I think about shelf life,
Speaker:right? A booklet like that, it might sit at at home on the table
Speaker:for up to a month, right? It literally could. And it's
Speaker:certainly not expensive, like thousands of dollars goes into that in
Speaker:the creation of it, all that sort of planning. And then also obviously the
Speaker:cost of manufacture, there's 10,000 I think that goes out. And
Speaker:you've got that going out for Tweed Shire as well as Tweed Coast. And they're different booklets.
Speaker:You wouldn't have probably seen the Tweed Coast one we do, because it goes to a different
Speaker:market. But again, yeah, it's huge in
Speaker:It's a huge difference. And when people are going to this Amazon
Speaker:and seeing this Amazon listing, And they're seeing the images for the
Speaker:first time. If those images aren't amazing, then
Speaker:you can lose sales. Right? So it's back to, you know, if your presentation isn't
Speaker:great or your front office staff are no good, you know, that you
Speaker:could potentially lose sales. There's lots of talk at the moment about AI. And
Speaker:I did a post recently talking and a video talking about
Speaker:all the jobs that are probably going to go with AI. I mean,
Speaker:even just in the Amazon logistics and things like
Speaker:that. So in the warehousing, there's going to be robots, you know, picking and packing orders.
Speaker:So all those staff are gone. Even right now, you can go to
Speaker:the US, you've got AI tools within
Speaker:McDonald's drive-thrus, Burger King drive-thrus. So
Speaker:that window order taker, they're now gone. Right?
Speaker:So there's all these little things. And honestly, I can't wait to
Speaker:get it. They're talking about having an Elon Musk robot, Tesla robot,
Speaker:in your house for $20,000 US. Yeah, wow.
Speaker:That's what they said. They're saying they're going to mass produce it. And he obviously wants
Speaker:economies of scale. He wants it in everyone's lounge room, right? Wow.
Speaker:I don't think it's that long. I mean, have you seen on Google, look
Speaker:at the Tesla robots, they're incredible, right? They're like cracking eggs and stuff. But
Speaker:could you see a future where you perhaps have AI, let's
Speaker:talk about even AI robot, like standing at the door of
Speaker:Yeah, look, I think that definitely has an impact and
Speaker:a role. I think for our industry, it's so human-based. That's
Speaker:always going to play a part. What I find intriguing about
Speaker:AI, and I think AI will definitely take a lot of
Speaker:jobs, and it will also create a lot of jobs. At
Speaker:the moment, though, for me, it's still very much in its infancy. I
Speaker:really went into the Delve Deep AI and I just tried it on text.
Speaker:So what I did is I paid for the highest quality AI
Speaker:tool that I could get. I threw it a heap of text, just
Speaker:bullet points, different things. And I just want to see what this thing could do, right? I
Speaker:also threw it the floor plan and
Speaker:I also gave it, I think I tried to give it a video, but
Speaker:that didn't seem to work out. So I gave it as much content as I
Speaker:could. And I just wanted to see what it would spit out at the other end. What
Speaker:I realized was that it's still very much at its infancy, and it's
Speaker:interesting, I think that And it's going to happen very fast.
Speaker:But these AI tools need to come up with better, like
Speaker:learn as you go, kind of every time you give them something, it improves a bit better.
Speaker:Because I feel that's still a big lag. And I feel like it's still this big
Speaker:generic. And it was a paid for subscription. So it wasn't the
Speaker:cheap one or anything like that, free go. And it was
Speaker:like, your square meters are this, and da, da, da. It was very still
Speaker:So what you're saying then is you don't think AI is going to have are
Speaker:that big of an impact? We're talking about AI robots. Are they that big of an
Speaker:Not yet. I think there's a lot of key things they've got
Speaker:to get right, and I think it could take genuinely one
Speaker:Well, this is the problem, right? If it can't create good text at this stage, and
Speaker:that's like a pretty primal, what we're talking about robots, right? I'm talking
Speaker:about just some ad copy. It's still got a long way to go to
Speaker:be adaptive and learn and understand formulas
Speaker:Well, we might have to have a chat later, Matt. You might have to give me through a bit of a flick. But this
Speaker:was chat GPT. I spent the extra money to get the
Speaker:right level on it. So I think it's going to be very adaptive, and it's going to
Speaker:But are you going to think from a cost perspective? Because I
Speaker:know even if you think about a restaurant, if
Speaker:you put an AI machine who can just make burgers
Speaker:and chips, pool shakes or whatever. I
Speaker:now don't have to pay a wage. I don't have
Speaker:to pay sick pay, holiday pay, overtime, penalty
Speaker:rates for weekends, extra
Speaker:payroll tax. The list goes on. I don't have to worry about people
Speaker:calling in sick. I had a case the other day where during the public holiday,
Speaker:not a single person called in sick. Why? Because
Speaker:they're getting paid extra. Not only that, there was people on
Speaker:standby. They were calling in to say, I'm on standby. Then
Speaker:every other day of the year, if it's not a public holiday, sick day,
Speaker:sick, sick, sick, sick, sick. It freaking drives me nuts.
Speaker:Yeah, it would. I'd get the AI robot in there, and then
Speaker:next thing you know, I'd be saying, oh, can I come in and work because I
Speaker:can replace the AI machine? I'm like, dude, this AI machine's coming in
Speaker:every day and doesn't even talk back to me and just shows up and does the job, right?
Speaker:And I'd have to pay that guy penalty rates, and I'd have to
Speaker:Correct. And look, you're pretty forward thinking, right, with
Speaker:where things are going. The challenge that I still have, right, and
Speaker:I remember with computers it was the same thing, right? We could have these blitzkrieg
Speaker:computers like, and for people who don't know that term, like lightning kind of
Speaker:operation, right? And yet, what they do is they intentionally hold
Speaker:back the technology because the average person isn't ready as
Speaker:the consumer to consume it and it would be too overwhelming for them. And
Speaker:my biggest concern at the moment is that I feel, like you said, we've got
Speaker:all this technology. I think it's all coming together. The problem is
Speaker:we're not seeing probably like, good example, and
Speaker:you mentioned Elon Musk, right? the tools and the systems and
Speaker:the things I reckon he can get a hold of, versus what we can
Speaker:get a hold of, could be as much as five years difference, right? Like, who
Speaker:There you go. So this is the problem, right? And I
Speaker:think the other disadvantage we have in Australia, and love the country, love
Speaker:everything about it, But it's a bit like the cars, right? The
Speaker:cars come out in the other countries first, three years prior, they get these amazing
Speaker:cars. And we're sitting here in Australia waiting with bated breath
Speaker:for this new exciting car. I know you're a car buff, so probably shouldn't get
Speaker:But this is the challenge I think we have. I'm really excited
Speaker:about AI. I think it brings a lot to the table. But the frustration, and
Speaker:I can tell you're already frustrated. You want your AI robots today. But when are
Speaker:we going to get it? When's going to be the launch? And
Speaker:it was a bit like the cars. There was a lot of hype, a lot of excitement around the cars. It
Speaker:was an incredible marketing strategy that he did too. Elon did
Speaker:wow. It made his company take
Speaker:off, right? It's going to be the same with the robots, I'm sure, but when's that going to happen
Speaker:Stay tuned, I guess. We talked
Speaker:about attributes and I think you've got fantastic
Speaker:attributes. The attributes, right? The
Speaker:quality attributes. that you could transition from
Speaker:just any business. You're in the real estate business now, you could easily transition into
Speaker:the Amazon business. And I think the number one attribute
Speaker:is resilience, because you've
Speaker:been through so much in your life that when challenges come your way,
Speaker:you can just overcome them. And there's so many people, not
Speaker:in just the Amazon business, but just business in general, that the
Speaker:first challenge that comes their way, they fold. Part
Speaker:of my success and definitely I can see from your success
Speaker:is there's been periods in your life where you've literally had your back up against
Speaker:the wall and you're like, shit dude, we have to do this.
Speaker:If we don't make this work, we're fucked. Yeah. It's game
Speaker:time. Yeah. And I think that's been
Speaker:You touch on Amazon, AI, those
Speaker:things, and I think the most important thing, definitely a
Speaker:bit reserved, just knowing how slow things roll out here, right in Australia, but
Speaker:it's interesting. At the same token, though, you've got to be adaptive. You've
Speaker:got to be the one to embrace change and to look at opportunity and
Speaker:to delve deep and take advantage of it. Also, too, from
Speaker:my company perspective, and probably a little bit different to yours, It's
Speaker:such a fine line, right? You want to be the first kid on the block with a new
Speaker:AI tool if it benefits the company, right? No question. You
Speaker:know, resourceful, innovative, adaptive, and fast. Fast
Speaker:is king. You know, I think about service and a client I was dealing with yesterday and,
Speaker:you know, hey, has he got his report? Has he got this? Has he got that? Has everything happened, like,
Speaker:within the space of a couple of hours? I want to be the best, right? Speed is
Speaker:king. Speed is currency. But also, too, you've
Speaker:got to adapt to that change. So if new tools, new systems, However,
Speaker:and there's a big however with it and I think all business have to be
Speaker:very mindful of this. There's no point going down a black hole
Speaker:of AI and spending like going to see all these courses and
Speaker:training and everything if it doesn't have any value to offer your
Speaker:business. You've got to look at what's going to like, you
Speaker:know, and a tool that may work like you mentioned robots, right? Robots for
Speaker:you, I think, would have a lot bigger impact short term, definitely in your You
Speaker:know, the fast food world and definitely in Amazon
Speaker:because obviously products, manufacture, warehousing.
Speaker:For real estate, it's still very person-to-person, 100%. You
Speaker:could have someone at front of house collecting
Speaker:the details and all those sorts of things. As long as you're still getting engagement,
Speaker:someone's still going to be in the house engagement, relationship building
Speaker:and all those. And it goes back to the basics, right? Realestate.com
Speaker:was going to change the world in real estate. We would need real estate agents. Then it
Speaker:was virtual walkthroughs. Everyone's going to have virtual walkthroughs and it's going to be all on
Speaker:realestate.com. People won't need agents anymore. Now it's, hey,
Speaker:AI is going to come in and disrupt the whole world. There'll always be
Speaker:disruption. I think like you're saying, hey, you can next level this.
Speaker:You can take it to the next level. I think that there'll be a lot of opportunity
Speaker:created from the AI too. Someone's going to
Speaker:have to, at the end of the day, fulfill all the different functions
Speaker:of different responsibilities and roles in these new industries that are coming out of
Speaker:this product too. But yeah, there's also going to be some labor content saving,
Speaker:definitely. But I mean, we're already, and I think for
Speaker:companies that aren't, they've got to be looking at labor as well offshore for different
Speaker:tools and strategies that can benefit them as well. The reality
Speaker:is right, and I don't think it takes jobs away. I think there's jobs
Speaker:out there that, rightly or wrongly, a lot of
Speaker:locals may not want to do those jobs, and those jobs are available for
Speaker:people that want to do them. Yeah.
Speaker:AI, offshore, whatever. Exactly. And I tell you, listen, I
Speaker:know you've got to get going because you've got clients to see, you've got real
Speaker:estate to sell, deals to do. That's right. So I want to
Speaker:And I really appreciate you sharing your story. And I can see there's
Speaker:a lot of synergies between your real estate business and Amazon
Speaker:and having the right attributes as well. And maybe you want to look at going into Amazon and
Speaker:Yeah, exactly. All right, guys. No worries. Thank you so
Speaker:much for joining me on Amazon Ecom Secrets. Look forward to seeing you next time.
Speaker:Take care. Thanks, guys. Thanks for tuning into Amazon Ecom
Speaker:Secrets. If you enjoyed this episode, the best way to show
Speaker:your support is to give a five-star review on Apple Podcasts
Speaker:and Spotify, and make sure to subscribe on YouTube
Speaker:so you don't miss an episode. You can also find more
Speaker:at I'm Matthew Fraser on all social media platforms.