Real Estate Agents

“You don't want the busiest person. You also don't want someone that doesn't have a lot of experience representing investors and approach that person and see what kind of deals they're finding for their clients and then become a very easy client for them to sel…”

“You're paying for effectively therapy throughout the deal and like general guidance and.”

“I would say they have a typical conversion rate as any other cold call, especially since They have, they had a very negative experience with the whole entire process, not being able to list it. I mean, not being able to sell their home with an agent before, an…”

“When I started selling real estate as an agent, I would represent some builders cause that's kind of a, one of the holy grails of being a real estate agent is you get the listing up front, you get the listing on the second time when they go to sell it.”

“Various real estate agents have said to me that every estate agent does their utmost to make sure that until things are signed and sealed, the vendor never meets the buyer and vice versa. And the reason for that is if one of them doesn't like the other, they w…”

“The job of the real estate agent is to some extent to be the person who stays behind in the place where the house is sold to suffer the reputational consequences of, you know, of anything outrageous. Because the vendor of the house isn't really reputationally …”

“Zillow, a lot of people use Zillow. It actually doesn't make that much money because it's like, it's a lead generation machine for agents. That's how they make money.”

“What I'm going to say is let's negotiate the commission upfront. I want to pay you full commission. That's my negotiation. I may want to pay you a bit more than full commission. If you're used to getting two and a half, I know a high watermark is three. I'd li…”

“Your agent has said something along the lines of this. Oh, they just turned down an offer exactly like that. Or, oh, they have another offer coming on Tuesday. They never have another offer coming on Tuesday. They didn't just turn down an offer like that.”

“Doing that for homes makes so much sense, but, like, the real estate agents are not, they just don't know what they're doing.”

“One thing I've learned through the years, do not represent yourself. You will not get the deal, and you are cheating yourself of potentially getting a good investment. So of course, I let each of the agents represent me.”

“Instead of using a real estate agent, there's no reason they can't use ChatGPT or an equivalent product.”

“Maybe half of them won't be able to make enough money in this new, you know, fee regime that it'll no longer be an attractive proposition to be a real estate agent for maybe half a million to a million people over time that are agents today.”

“Their core competency is taking this multi-party transaction with all these different entities that it takes to close and think of like a very extensive Gantt chart of all these different entities. They're the ones who just keep on pushing it forward. You know…”

“Real estate agents aren't real estate professionals that happen to be entrepreneurs. They're entrepreneurs that just happen to be in real estate. If real estate didn't exist, they would be entrepreneurs somewhere else.”

“On one hand, they live of advertising revenues, so this means that not the best real estate agents rise to the top, But those that have more money to spend on advertising.”

“It looks, it masquerades as business because these are agents and they're doing business, but in reality, they behave like a consumer, which means the CAC is really high, the support burden is really high, and they churn like crazy.”

“So the key is to provide technology that helps them with education and training quickly. So that they can get, get up to speed and start selling quickly.”

“You can't work for everyone. And who's your customer? Your customer is the person that pays you. And buyers and sellers don't pay brokerage firms. They pay agents. And agents are the ones that pay brokerage firms. They split a percentage of what they make with…”

“Everyone thought that real estate was like searching listings, what aggregators do. That's probably less than five percent of what an agent's business is.”

“A mobile app can connect to 13 different third party tools, which is how many tools the average agent uses.”

“Just to be very clear, people use agents more now today than they did 10 years ago.”

“It was, I liken it to shopping in a dark grocery store with a flashlight, you know. Worse than that, the flashlight is being held by an agent who You have to ask to point it at something.”

“Many do, but we have two hundred and thirty-five million users a month, many of them real estate agents.”

“You're mistaken if you think we're trying to replace the agent and replace the industry.”

“I think in the next 50 years, they probably won't exist.”

“The top 10% of real estate agents sell, 41% of all homes sold in the US.”

“We're not interested in working with the bottom 90%, the part-timers, the ones that sell two or three homes a year. We want to work with sort of the entrepreneurs who actually have a business, who are trying to grow, who need the support and resources to make …”

“So we I think in 2016, we had about, end of 2016, we had about 30 real estate agents on our platform. Today we are up to about 22,000 and we are, as and when we roll them out, those numbers just keep increasing pretty rapidly.”

“They could potentially, the reason they are not able to do that, and the reason we are able to get in front of the customer before anyone else, is imagine you sign a contract today, within 24 hours, our system will automatically invite the customer there, and …”

“So this is the most frequently occurring number in a big, big list is zero. So if you find like a random real estate agent in Washington state, the highest chance number of transactions that they've made last year is zero.”

“And again, all of this, it doesn't mean that real estate agents go away. It just means that it's going to be under the rubric of a company.”

“If you go after your buddy or a friend or someone, you know, who's a real estate agent and say, send me cheap deals, you're kind of screwed because everybody's doing that. So it's really about finding off market deals.”

“There's two million agents out there, and three out of four of them are in some sort of part-time capacity.”

“Real estate agents, they really do their own marketing strategies themselves. They don't normally include the brokerage in their decisions.”

“The average real estate agent in this country sells four homes a year.”