One day we'll have a studio, Jen.

I know.

And we'll just sit back and fucking flip flops and

I mean, I'm still gonna have to be the

one, well, still in flip flops.

Although you didn't like the

bad angle, check back on our old episodes when we were in.

The other room in Seth's house and the chairs.

Yeah,

I don't think it was a good angle for anybody.

What'd you call yourself the other day?

I told our editor, I was like, I get the vantage points, not

going to have to un chinify myself.

So get my double, get my double chin out of you.

Um, well, this

one's your, uh, your idea.

This is

my baby, man.

And, uh, we're going to start, uh, actually I'm excited to

announce, we're going to start giving talks locally about this.

Um,

By the time this comes out, we'll probably have already done it.

Yeah.

I'm bringing, uh, bringing that in for a landing.

Uh, but it's what's called, uh, and I started using this with clients,

which is like kind of the four P's to win a bidding war, do you want to

try to guess what the four P's are?

I already read them.

You read them, but you closed your laptop.

So do you remember what they are?

Preparation.

I don't, I can't read that far.

Even with my contact preparation process.

People.

The most important part.

Did I say process?

Yeah.

Oh, what is it?

Persistence.

Oh, yeah.

Yeah.

Okay, guys.

That just built into my DNA.

What can I say?

Yeah.

So, um, so guys, uh, four Ps of winning a bidding war, I found that a lot of

clients are interested in like kind of making this a, a thing, like kind

of explaining it in a certain way.

So I, I kind of was able to come up with this.

I, actually, I, I remember hearing a.

Uh, a realtor talk about this, about how like people who don't have like

a process, they don't have like a way of doing or that if they do,

like you, they, you should run.

And I think it's terrible advice.

I would

really like to know what the average person's thought is on that.

If an agent tells you, if you talk to an agent and they have a process,

you need to not work with them.

Like run, because

does that make sense?

Uh, it, it does.

Bewilders my mind because that makes absolutely no sense to me.

I would love to have an agent who has a process, has a system and

has a proven track record of if you do this this way, it works.

Yeah.

I think this agent's, um, point was that it's like everything

I do is like customized for the age or customized for the client.

I'm like, yeah, but

every, every, every interaction and every transaction is

different, but the processes are the same.

Yeah.

So what do I always say?

I always say it's like, well, every transaction is

different, but they're the same.

You know, it's like you do enough transactions.

Oh, there's very few curve balls for, for, for me these days.

You know, um, like there's, I mean, there's stuff that happens.

I still learn new things every day, but I really try to bring people into a process

and we try to bring people into a process.

So it's like, it's just, things are like, A little calmer.

Yeah.

Um, because you already, you know, you're buying a house,

maybe you're selling a house.

Like there's a lot of things that like, we're not going to be able to help you

with, which is like, you know, you know, the, I mean, we can help you with like

staging and organizing, but like you have to do a lot of the heavy work here.

So I try to make, I try to bring people into a process where.

Uh, things are a little bit more measured, a little bit

more or a little less chaotic.

So the four P's is something that I came up with.

I actually, uh, approached, uh, my networking group

and my chamber of commerce.

And we're probably gonna start giving this talk because there's a lot of

people who just don't understand or they're just kind of demystify or

mystified about how this process works.

So the first really is preparation.

And we've talked about that on this podcast a million times.

Jesus.

And we'll continue.

And we

will continue.

And I talk about this in my social media posts.

And I talk about, uh, this pretty much.

All the time, which is getting prepared to purchase a property.

And guys, like this isn't about like a month ahead of time.

Like this is about having conversations a year, two years.

And once the

thought enters is like, it is not a waste of our time getting

prepared, getting with a lender.

And what do I always say?

Yeah.

Oh, yeah.

Yeah.

You get to use your say.

There's never such thing as too early, but

there is such thing as too late.

Yeah.

And I mean, if you take this preparation piece, I mean, you really

got to like, you got to eat it.

Like how you eat an elephant one bite at a time.

He got it.

I got it.

I didn't get on that last episode.

He said that he had 20 minutes.

I totally, I totally forgot about

it.

I totally forgot about it.

You did it.

No.

So it's funny because this podcast is we've, we've got our little logo

for this.

It just needs to be an elephant.

And nobody's going to get the only

name, the team, the elephant team.

No,

no,

no, we shouldn't.

So, uh, but yeah, we should, yeah.

So breaking down the preparation process, we have questionnaires, we've

got questions, uh, outside of that we can ask you, you can get lined up

with a lender, get an idea of what you need to budget for, uh, a loan.

Um, see what's out there, see what you can actually afford.

And then if you want to wait two years, wait two years, like I have

people sitting around my MLS have been in the, I think some of them are way

too long, but getting out and really getting an idea and prepared for

what awaits you is super important.

The next is people.

And like, we've talked about this too, man.

Like you've got to work with eight players, man.

I mean, there's a lot of agents out there.

We're shedding every month, about 25 License, uh, Realtors in this country now,

and that it comes a lot from the fact that the market has completely, uh, corrected.

Um, and there's, there's less.

I wouldn't say that's a little bit of a drum test.

No, no, no.

The real estate business has absolutely correct.

You said the real estate market has completely.

Oh, I'm sorry.

Not market.

No, it has not.

No,

no.

Well, the real estate business has totally corrected.

Realtors are down 40%.

Lenders and title, they're down 50, 60%.

And

that's not necessarily bad either.

I mean, the bar, the bar of entry to get here is so low that like the

strongest survive and the strongest should survive and it can afford to shed.

Yeah.

We can afford to lose a lot of agents, a lot of

lenders, a lot of title, part

timers, people who can't commit to it.

People who, you know, are not, don't know what they're

doing.

I mean, like, frankly, like there's, and there's, and at the.

That's not just like new agents.

There's a lot of agents who are super established.

They're just tired.

They wanted it.

They, they, they refuse to accept the new way to do this business.

At least in the Philadelphia area, there's areas where like, you know,

it's not a longer, like a huge seller's market, but also like your lender, like

your lender should be understanding of what the current market is.

They should be understanding a buyer psychology.

They should be calling the listing agent when they place offers.

They should be able to talk you off of a ledge.

When interest rates go up an eighth of a point and it's like, you know,

having all these people who are experienced and problem solve all day

every day is, is going to be invaluable to you throughout the process.

Um, you know, you want to use your nephew who just got licensed.

You want to use your aunt who, you know, has been in the business for 45 years.

Like you can do that, but just be sure that they're,

they know the tips and tricks.

And make sure you go back to the episode where we say.

Uh, about hiring family members as your agents.

That's a very good one.

We'll put that in the show notes.

Yeah.

We'll

put that in the show notes.

Cause that, that was a good one too.

Um, the next one is a process and it kind of goes back to how we started this thing.

Guys, if you have an agent who doesn't have a process or a, uh, any

kind of checklists or any, anything to put in front of you and it's all

just this like, you know, loose, like customized, you know, quote

unquote customized, uh, process.

It's.

that's not going to be good for you in the long run.

Um, you want people who can work at a high level, um, across many clients,

because those are the people who have the experience, but also as you get

to, as an agent, as you get to a point where you're dealing with a lot of

clients, this is just a natural evolution of, of a really good agent's business

is to have a system because it's the only way you can go, like kind of get

everybody through the process in like a.

non chaotic way.

So, uh, I would push back very strongly on anybody who doesn't have checklists

for you, does not have questionnaires.

And the same thing for a lender, like our lenders use like the

latest software, the latest thing.

And I'm telling you, you could like, you could shake our lenders

awake in the middle of the night and they say the same thing.

They ask the same questions because they are tried and true.

Now, yes, there's going to be customization that takes Yes, there's

going to be Special considerations.

If you're a vet or, you know, you need to sell a house, it's

going to be really hard to sell.

Like, yeah.

Okay.

We can go outside the boundaries of like our processes, but like in, for the

most part, bring you into the process is going to have a higher chance of

success than some fully customized, you know, off the, off the cuff type.

And the processes haven't been made just willy nilly.

Um, and they're not.

This like, Oh, good.

In theory kind of thing.

Like these have taken like the ones that we've at least established have

taken like many team meetings together to sit down, to like, really, really

think out and think of all of the problems or things that we say, or

things that happened throughout a transaction and how to systemize it.

Yeah.

In the easiest way possible and take everything before

and another side of it too is like, I mean, I came with

a ton of input into those processes and it came from me paying for access

to masterminds of like really great agents doing shit all over the country

who've already figured this out.

Like it's not, it doesn't have to necessarily be this like.

You know, Seth Lejeune or SLG or Jenky, uh, like, you know, brainchild.

It could literally, I go out and I find the information, I bring best practices

back to my clients and our clients.

So I think that, uh, that is a huge piece.

Um, there's a lot of agents out there with no process at all.

And then finally is the, the fourth one, which is the one, it's the

emotional one is the persistence piece.

And I think that a lot of agents don't, um, uh, really get a.

solid, um, picture in front of their client about how hard this can be.

And I, we like, you know, realtors don't like to talk about how hard it is and

they don't like to talk about that.

It's going to be stressful, but I always tell my clients and

I think you do the same thing.

Like we should, we should expect like three, four offers, man.

And it's nobody's fault.

It's just that you can't cut a house up into 15 pieces

sometimes and give them to people.

Sometimes it's just going to be trial and error.

That's like the offers that I had received

over the weekend for my list.

thing.

I mean, two, uh, two of them, it was the buyer's first offer that they had put out.

And I was talking to the agents and I was like, Oh, they were

like, yeah, just like, it's okay.

We expected it.

And I said, this is, this is where they start, you know, this is the

start of their learning curve.

And they were, and I gave them as much feedback as I possibly could to help them.

Like, I mean, I'm one who makes phone calls when we can't take somebody's

offer instead of like, I mean, it's.

It's not persistence, but it's still like, you know, that people like emotional

piece to it is, you know, you don't want your, you don't want the buyer to

find out on the internet before you get a chance to tell them you don't want

it to come across in a text message.

You don't want it in an email, like talk to them, like give the buyer's

agent chance to ask questions.

And by the

way, a great buyer's agent should ask, especially in

those beginning phases with a, with their new buyer, like give me the

feedback that I need to take back to my bar to make our offer even more.

Competitive.

And I, yeah, and like, I get my offers rejected and I'll just be

like, dude, just lay it on me.

Just tell me what, and most of the time I know, because

I've already been having these conversations with the listing agent.

I kind of know where the offer is going to land, but I know that I

can't go beyond the bounds of what my people are comfortable with.

And I was able to use that time to talk, like give them

some advice and help them out and ask them like, Hey, have you tried this?

Like, I mean, as I'm working with buyers and this has actually helped me

get, um, Uh, my buyers to be able to feel more comfortable taking this leap

and get their offers accepted faster.

I said, but you know, I've been there, I get it, but hopefully this works out.

And you know, I've sent them contacts for people to be able to help them.

And

yeah, I usually, I usually will say like, listen, we should expect to

have to put at least, you know, three to five offers in if we get to a six offer.

Um, and actually probably a little bit before that, we're going to need to talk

about what our offers are looking like, and we need to make an adjustment, whether

it's geography, price condition, or.

I'm going to sell you whatever you give me, but if we get to like five, six

offers and we're not getting accepted based on like our skill level and our

ability to connect and put together offers like something, there's a missing piece.

I'd say the more receptive you're going to be to hearing

your agent out about what needs to be done to get your offer accepted.

Like, uh, the offer I put out, it was our sec, was it our second or third

offer we put out and we got it accepted.

Cause she, She took my advice and she trusts me.

I said, this is what it's going to take to get it.

And we got it.

Which one is this?

Exeter.

Exeter.

You'll get it.

You'll get it.

Oh.

I don't know who that is.

I'm under contract right now.

Oh, what, on your client?

Yeah.

Oh, it's not our client.

No, it's my client.

Oh, I ticked it.

I know.

I, I, I have a big, I know the name of the street that you're under.

All right.

Well, anyway, that's what happened and she is the best.

And I'm sure she'll like,

I didn't have any knowledge of every deal we've got going on.

We talk

every single morning at 8 30 in the morning

about everything we have going

on.

It's the first time Exeter has been brought up.

Is it Butter Lane?

Yeah.

It's about Elaine.

Okay.

I got it.

Anyway, got

it.

Uh, she, but she, she listened and she

wanted her offer accepted and

Hey, the people let's talk about the people were

under contract with together.

Now that was, that was a clinic and what we're talking about,

which was They were really nervous.

So there's a, outside of Philadelphia, there is a town called Phoenixville.

It is very, very desirable.

It is an amazing transformation that's happened there in 20.

It's one of these like revitalization, great stories of like an old like blue

collar town that is like completely turned over and gotten to be great.

They were super worried about putting in an offer and we, and we have a couple

of other areas that we were looking and we're thinking about putting in an

offer because it's like, it's not quite as competitive and still competitive.

It's not quite as competitive.

And I said to them, I said, listen, guys, if the property that you want props up in

Phoenix fell, I was like, you basically just, I mean, we're not going to go beyond

what you're comfortable with, but you basically just have to do everything we

tell you to do because it was so rare.

Cause we were working with him for like And I don't want this to like scare

people, but it was like two months and the property they wanted hadn't popped up.

And they were like, okay, well maybe we can, you know, live in this place.

And but damn it, they didn't do exactly what we told them to do.

They sure did.

You know, and that's how you get success and that house, since

they have gone under contract has probably increased in value by 15, 000 just because

of the normal way things are going.

And that one was also an example of the, I mean, this

doesn't fall under like what you said as far as people, but it's a contact

sport and we kind of talked about this.

In the last episode of that agent did, I told him, I said, do not accept

anything else without calling me first.

Don't sign anything.

Don't

say names.

Um, well, don't you know, he held true to his word and he did call me and say

like, you're in like you and another offer are like practically identical and I'm

going to have this call with them too.

That like, I'll give you the opportunity to like, for one of you to increase

terms, whatever, try to get this,

we threw the kitchen sink in and after that, and

we said, do you want to squeak out or do you, do you want it?

Yeah.

So what I call that is the moonshot.

I said, we, if you want to just shut this down now, we go and

we'll just do a moonshot offer.

And it's like, I think we went up another 10 and five, five and like, yeah.

So relatively, it was, it was the other one went

up with the transfer, the 1 percent transfer tax, and then we.

We just sent it and we said we want it,

sent it.

But then we did, we did some other stuff too.

And, and, uh, we were able to make ours stand apart and, um, it, it worked.

So, and

communication did not die even once with that agent?

No.

No.

And my

phone was glued to my face during my

entire son's baseball games.

To get practice to get that done.

Yeah.

And, and I actually, speaking of baseball, I missed like a

part of my son's soccer game because I was here, I was here at my house.

Uh, talking them through because you were like on the phone with another client.

And so, you know, that's why we partner because we can, and I spent probably 35

minutes on the phone with them talking them through, okay, what does this mean?

What does this mean?

What happens if this, what this, this, this, this, and they were

asking all the right questions, but this was their first offer.

So they didn't know some of the mechanics of it, but yeah, you did

a great job with their first offer.

They never put in another offer.

Oh my God.

You're right.

They didn't put in another offer.

She, and that's why I was, that's why I was joking.

I was like, she wanted that.

She wanted Phoenix.

So fuck man, she got it.

Yeah.

And she, and because she took our advice, she said, and I said, you just

have to do like that house shows up.

And I remember I sent you that listing and I'm like, That's it.

There it is.

That's it.

Go get it.

And we pulled all the stops and they are so happy and I'm, I'm happy for them.

They said, they

got, they went to the counter and said, okay,

so now we have to pay for it.

Yeah.

And that's

fine.

And that's fine, man.

And they're good.

They're going to be fine.

They're financially, they're, they're in good shape.

Um, and, uh, no, but we were, I was so excited about that cause that's

like, yeah, like the, the, these two, these two have done everything right.

They, they want to start a family.

They deserve a house.

So let's.

It went, it also

went from their starter home.

So the conversation I had with them when we were there to tour

it the first time was like, Okay.

We had been looking for a starter home for you, but you know, now this is going

to be in a, like a higher price range than what you had initially anticipated.

But how long do you see yourself in this house versus what we had been seeing?

And they said, no, this would definitely be like a 10 plus year house now.

And you know, we're

going to see that a lot too, man.

I think a lot of people are going to just, or they're going to, they're

going to, they're going to settle.

They're going to, they're going to hunker on houses that, you know, in 2015, it

might've been a three to five year house.

So they'll probably not be like a seven to nine.

Yeah, that's

what all the statistics are showing.

So, um, but no, so that's, that's the four piece.

Okay.

Eventually, eventually we'll be getting like cameras ready.

And yeah, and we'll be getting up in front of people and talking about this,

filling ballrooms and filling chambers of commerce and that kind of stuff.

So hope you guys found that helpful.

We'll talk to you next week.

See ya.

Bye.