Selling the Dream: A Podcast for Resort & 2nd Home Real Estate Agents
Ep. 197: Lyndsey Garza Finds Opportunity in Adversity
Have you ever looked at an aspect of real estate, and thought, “I’ll never do that!”
Maybe it was rentals, or certain locations. Maybe you didn’t want to sell condos, or houses in the suburbs. Whatever it was, you knew that you wanted to do anything but that!
For Lyndsey Garza, it was vacation rentals.
Or at least, she’d never wanted to do vacation rentals, until one day, she found herself unemployed, with the opportunity right in front of her to dive in and start managing vacation rentals.
Lyndsey and her late husband started working the rental market in Galveston, Texas. At their peak, they were managing at least 60 properties!
Over the course of several years, Lyndsey put her head down and did the work. She invested in tech to help herself be one of the first people using a website to book vacation rentals in the area.
She was so busy that she realized that she wasn’t even able to sell real estate anymore!
Eventually, her company was bought out, but I’ll let her tell you the story!
You’ll be inspired by her story, from being a leader in managing rentals to selling to second home buyers in Texas! If you’ve ever wondered how to look for opportunity, you’re going to be inspired by her story!
Ready to hear from Lyndsey Garza? You won’t want to miss this week’s episode of the Selling the Dream podcast!
Before we dive in: join an amazing network of the best second home agents. Make sure that you create your free profile on the Second Home Agents website? Go over and get started: it’s FREE to join. Click here to register, fill out your profile and get listed today.
Highlights of this episode:
-
Tom introduces Lyndsey, her career path, and some of the hurdles she has overcome.
-
Lyndsey shares how she got into real estate after the market crash, handling vacation rentals for owners who lived out of state.
-
Jumping in and taking chances helped Lyndsay learn so much about the market, and what it would take to be successful. It also gave her incredible connections!
-
The rental market helped boost Lyndsey’s career: she treated rentals just like they were a sale, and built rapport with people! When they wanted to buy a house later, she was the one they trusted and called!
-
Provide white glove levels of service: your clients will see!
-
Because Lyndsey was an innovator in the rental industry, she was able to lead!
-
Investing in tech helped Lyndsey stand out among others doing similar work.
-
Eventually, Lyndsey sound that there were people who liked her business more than she liked her business, and were interested in buying it!
-
When he husband died, Lyndsey had to make tough choices so that she could provide for her family.
-
Tom and Lyndsey talk about the process of selling the business. Lyndsey did not have a lawyer, but she would recommend it if you’re considering selling your business!
-
You may think that you don’t need one, but selling a business is an emotional experience, and having someone to help is invaluable.
-
If you don’t own the URL for your location + vacation real estate.com, you need to go buy it!
-
Getting leads from sites like realestate.com can be like a bouquet toss at a wedding: you never really know who is going to catch it!
-
Lyndsey shares her secrets to connecting with clients.
-
“The number one rule of sales is not to sell, but that people buy from people they know, like, and trust.”
-
Tom and Lyndsey go through rapid fire questions.
-
Don’t forget: there is opportunity out there, no matter your level of experience. If you’re brand new, or been selling real estate for years, there is opportunity for you!
-
Don’t forget to subscribe to the Selling the Dream podcast so you don’t miss any new episodes! Leave a review: you never know when it will be read on the show!
Hey everybody, thank you so much for spending time with us today: would you do me a giant favor and share this podcast with fellow realtors, and leave a review. Your reviews help this podcast get shared with more people.
Sign up for a trial with Bomb Bomb and get a free eBook from me! Just let me know you’ve signed up, and I’ll send a free copy of Ethan Beute’s book!
Connect with Lyndsey:
Connect with me (Tom):
Subscribe to the Show
Don’t miss a single episode of the podcast. You can search for “Selling the Dream” on any of your favorite listening platforms, or follow the links below:
Have you made your free profile on the Second Home Agents website? Go over and get started: it’s FREE. Click here to register, make your profile and get listed today.
As always, thanks for listening. Don’t forget, you’re not selling a home: you’re selling the dream.
See you next time!
TRANSCRIPT:
[00:00:00.480]
Today and selling the dream. Learn a little secret on what you are, El, that you should buy. Before the show is over. Welcome to Selling the Dream. A podcast created four and five second hold and resort realtor on Tom Tezak. And each week, my goal is to bring you a quick real estate tip, along with an info past interview with an industry rock star. My mission is to bring this cutting edge marketing, fighting through sales and information about the latest technology.
[00:00:27.540]
Thanks for tuning in. And remember, we're not selling real estate. We're selling the. Hey, everybody. Tom Tezak with Selling the Dream, a podcast for second home agents. And today, I'm so excited to have Lindsey Garza with me. And Lindsey has had such a crazy path through her career. She started companies got laid off, her husband untimely, passed away. She's raised kids by herself and she's been doing this all while Solyndra resort real estate, creating businesses.
[00:01:01.860]
And just what a trooper. And I mean, we just chat a little bit and you will be so inspired by Lindsey. Lindsey, thanks for coming on the show. And my favorite line is I would never sell a traditional real estate. You're my hero.
[00:01:16.980]
Thanks. I know that I. I love second hand market. I love the resort market. And I would never I mean, I do sell primarily and I need to. But it's not it's not my passion. Right.
[00:01:28.710]
Is that what you're you're not going out knocking on doors, trying to sell traditional market? No, I'm not getting fired up about it, you know. So. Yeah.
[00:01:35.700]
So Lindsay does, you know, we sure. We were talking a little bit. You've had a really challenging career. I mean, you're challenging path in your career and you work for a developer. You were selling resort homes and then things just went to hell in a handbasket with two thousand, seven, eight, nine and all of those crazy time.
[00:01:54.540]
So once you just give us a little brief background of what happened, sir, and.
[00:02:00.150]
Well, I actually I moved to Galveston. I got a marine biology degree, which I do have, and taught high school chemistry for a couple years and then in 2005, got sucked into the real estate market, integrated many rich community. That was geared toward second homes. And it was Syntex Destination Properties. That was their second home portfolios that they would do in Hawaii and Florida. And they brought one to Texas and then they diversified. When the market started, you know, they got back to what they were good at, building tract homes and doing neighborhoods and sold off to a developer out of Dallas who unfortunately bought in 2008 and which was also the year of Hurricane Ike for us, which was a direct hit that we got.
[00:02:40.200]
It was the day before the markets fell out, as we had heard. And so I had no idea what kind of impact that was going to cost me. But it wasn't, you know, it was a good impact. You just get really good at what you do and you diversify. You know, you get a foreclosures and short sales and you just adapt.
[00:03:00.410]
You know, there's always been that separation, I feel, between the realtor and the rental, you know, like it's like almost like a division. And I fell into a great opportunity that I did not see as an opportunity then. But what did they say when another door opens, a window closes or whatever? You know what I mean by that?
[00:03:18.860]
A door closes and when one door closes, a window or another door opens, something opens.
[00:03:24.380]
But, you know, my husband, Mark, my late husband would send hate. He was a builder and we were both heavily invested here. And they they resort to the Endi that I specialized in, went into foreclosure and their front desk where they handled their rentals was left empty with about 30, 40 absentee homeowners that did not live in the state, did not know what to do. And that's is 2012. And he the one thing we've got to go into vacation rental management.
[00:03:48.470]
I said no way. No, not touching that. I'm too good for that. You know, like think like I honestly thought that. And, you know, that's sad. And because I realize that, oh, I was not good. You know, I got it. It was great. It's a very lucrative business. And this just back in the dinosaur age of 2012. And I am so thankful that we did that and took that risk.
[00:04:07.790]
We didn't know anything about it as it what I had heard about it, you know, when they would return our clients over to be a rental team to talk about that part. It was it was a whirlwind, but one year.
[00:04:20.510]
So you were in a specific community, but the greater area is basically Galveston, right?
[00:04:24.770]
Yes. I'm all over Galveston now. And I was known as the Point West girl, but I'm an island wide. Perfect. So. So then what happened? So you're laid off. You're sitting on your living room floor. I think you said and it's like, OK, we got to figure out what to do because we got to work. And so you said, let's go into the vacation rental business. And you're saying, I'm too good for that.
[00:04:45.530]
I'm like, no, I sell real estate. Yeah, I don't do the rentals, you know? And and it was I loved it. I loved everything about the vacation rental industry. And, you know, I didn't want to clean. And Mark, you and I were cleaning together. We went from like two units and we needed software spring break. And I mean I mean, I ended up when I and I end up with 60 units at the end of the day.
[00:05:07.610]
That was my max number and about three years. But it was. I'm so glad that I looked him and I said, OK, we'll do it. I trust you. And we would clean together and yell at each other, you know, and hurry up, get that wife I connected. We couldn't. The funniest story was we didn't know how to operate a car lock. So we just took it off and put a regular lock on, you know, for spring break.
[00:05:25.880]
So you're our guest. Then we learned it all very quickly. And I met some fabulous people in that industry that allow me to transform my real estate capability, to my knowledge.
[00:05:35.240]
So let's start with let's go to there. So you jump into this resort or the rental market, the vacation rental market. And you said you didn't realize how much you would learn from it and how it helped you to sell traditional Riverside. Let's talk about that before we go into your next transition or the sale and everything.
[00:05:54.860]
You know, what I realized is that when you have when you start small like this, you know, and you and you build it, it's all about the experience for the guests. And the scenario I as the property management company owner, your you're worried about your guests or about your owners, but those guests that they're treated correctly and given that that right level of customer service. And you give them experience and given that local knowledge, you really talk to and become their you know, their friends and they trust you.
[00:06:20.780]
People wouldn't book online back then with photos. So we did video back in 2013 and boom, boom, boom. You know, they could really see it. They didn't trust it yet. But I saw that these guests were the buyers. You know, I was like, huh? And, you know, with that life-cycle, it's really a unique proposition, the way that people would go into wine to purchase a vacation rental before it was just to offset ait's away fees.
[00:06:44.160]
Well, now they're cash flow and it's great. It's a great way now to buy a second home. It's like test driving the car. Runners will come in, they go, Oh, so somebody owns us. And I remember they like how much I pull out a rental history. And I show I mean, they were all kind. A lot of them are condos. So they were like units. And I could show them histories and. And they would if I showed him the numbers they bought.
[00:07:08.780]
And I realized the relationship between that it was almost a different transaction because things were more important to them. And that's evolved through mass times, gone on with the industry.
[00:07:19.250]
What things were more important to them, the location or the price or the experience or what was it that was? What did you determine? All of a sudden, as now you're representing. Owners that are renting to now, people that are buying and you said something was more, what was it that's more important? I think well, it depends on it, you know, with the. It depends on if you're looking at from the gas perspective, with the guests perspective or the buyer perspective.
[00:07:41.780]
Say that, you know, they'll rent three times and they'll be like, well, maybe we should buy one. You know, we just. And it's showing them the actual. Because I was very transparent. I printed out an understatement. You know, profit sensitive information. And they saw everything black and white, the income and the revenue and the expenses and whatnot. And I think with me being transparent with them and explaining how the process worked and what to expect and understanding it from both ends really, really changed the way that that film was made.
[00:08:10.470]
So you were in involved with each one of these guests that was coming into the. They were re reacting with you and you said you strike. You strive for white glove service and that the concierge level. So you are. There was this ongoing connection with them. And so those conversations, I assume, would just evolve, too. Well, what's it look like to be an owner instead of a renter or would you?
[00:08:31.140]
Were there questions or reserve script that you had that you would say, OK.
[00:08:36.740]
Susie and Bill are coming in. It's their third trip here. I probably should have the conversation. I mean, was that something that you consciously thought about?
[00:08:45.270]
You know, we had a lot of repeats because I loved booking reservations. That was like my favorite thing to do. And you would still catch me trying to grab the fan, even though we had, like, three reservationist in there, you know? And it's really you get a feel from them and they they love it there and they have the experience and they're kind of in for their anniversary. Leslie, some champagne or for Thanksgiving we would offer to bring in, like, you know, a Thanksgiving turkey and get the reservation, things like that.
[00:09:09.680]
But we but I know this works the most. A lot of my reservations for timid about it. You know, they were younger and they were learning how to sell over the phone and they weren't license, so. Really, what they did was they would put like men under their surveys or if they did a review, I'd say, would you like information on real estate sales? And almost six out of 10 of them said yes. And we all know that these people are they don't have to buy any of these things are discretionary product properties.
[00:09:35.740]
They don't need it. The sky and blue and change of mind. I don't want it.
[00:09:39.910]
I mean, I don't need it. I like the big difference between need and want for our for the resort market. That's what brought me to do these shows, because helping agents from across the country to understand we sell to the want, not to the need. And I think just doing it a little bit differently. I was one of the first people to actually take online reservations in 2012 with my software. I had a great website. I invested heavily in that.
[00:10:06.620]
You know, being tech friendly was good for them and taking a max, you know, that cost me. But they wanted to. And I got our business a little things like that. But really like listening to them and I like the reviews were such a key part of our industry. And they still are real estate and vacation rental, especially vacation rentals. And we had TripAdvisor back then. That was a big deal. And and it was it was really good.
[00:10:28.110]
People would come down and have an experience. They created memories. They truly were coming down. It sounds cheesy, but they were truly creating memories. And I wanted to give them that best experience. One day they call us again, and they always did. And I think once they realized how much money they were spending on vacation and that somebody owned it, you know, the more that because no one really knew much about there wasn't an error there wasn't there being, you know, as there was Hemingway and Barbeito and or Verbier or whatever they are now.
[00:10:54.430]
But, um, you know, it was really educating them on what is and why would you stay in a vacation rental over a hotel? And people thought it was strange then. But you find them and they love it and it's at home that they can come to you and they can afford it and they can supplement it, you know, by renting it out. Right.
[00:11:10.870]
And it's interesting. We've had and I'm in Maui, Hawaii. We've had vacation rental condos for 40 years. I mean, I've been doing it for 20 years. And it was just part of the thing. And then we saw V.R., BAEO or Verbal come out and it was like, wow, this is all new. And then BMB just blew everybody's socks off. So it has been fascinating. So how did so you started with the vacation rental company.
[00:11:34.670]
You were a licensed agent. Were you by yourself or did you have other real tours that were selling out of your team or did that just morph into the business? How did that all work?
[00:11:44.020]
What I did, I really had to stop advertising for real estate because I was focused, you know, I had 50 plus units that we were running and I had a small team. And it that's intense work. I had I had at one age and I was a broker or I am a broker still. And I had an agent basically that I gave my referral business to anyone that was in our rental program. If they wanted to sell, you know, and they would typically sell with us because they could sell more value out of it to that particular buyer.
[00:12:08.650]
So I had an agent I didn't have time to sell and it broke my heart because I was running a hotel, you know, I was running a hospitality business.
[00:12:15.560]
So a hotel with 60 units scattered across town. Yes.
[00:12:20.540]
And. Oh, yeah. And the emergency found with a flip phone that we passed around.
[00:12:24.070]
And I mean, it is a great experience. So so that evolved. And then you somebody approached you and said, hey, we like your business more than you like your business. What was like?
[00:12:37.900]
Well, I was like, what? What do you mean? You know, I was I was so shocked. I actually had a couple people approached me and the first couple and was there ever. Everybody was great, but I didn't understand, you know, I was like, what? Why did you want to buy my business? Like, I didn't it did not make sense to me. And then I realized what was going on, you know?
[00:12:59.440]
And I was like, OK, here I am. You know, I was working my tail off. And because, of course, I'm a control freak, I want to be in. But I'm trained and I'm doing it. If I want to make sure we have got three young children that also lost their father and I lost my husband. So it was a tough deal for me. The time I was losing, I was realizing that, hey, I was going to point my business where I needed to grow or I need to cut back quality quality 20 properties and just take it down a notch because my quality of life is not fair.
[00:13:28.110]
And I just don't understand why people would want to buy my company. And I that's it was it was a great fit for me because I didn't sell real estate again. You know, I missed that.
[00:13:39.120]
And I want to I want to step back. We skipped over something. And if it's OK with you when you started your company. Because I want to I want people to hear it.
[00:13:45.850]
You know, right now we're just coming out of this pandemic and everybody's oh, woe is me. Like, that's so hard. But for I just want you to share that story. You started the company with your husband and then what happened with. He passed away. And then. So guys who are people. Ladies gentlemen. Who are listening to this. You can work through all of these things that are in front of you that have just you've come out of.
[00:14:09.010]
Yeah, you definitely can and, you know, I feel like I consider myself and this may sound awkward or weird, but less in a sense, because I know that I can get through things that I shocked myself. You know, I'm looking back. I did some things I never thought I was a little doing, going through a hurricane, going through a market crash, losing my husband, running a business. I had a marine biology degree.
[00:14:29.410]
I didn't even know an LLC really was. I mean. He did. But and. You asked me, like I said, you're getting started. We're talking. Yeah, so. So. So you had your marine biology. We're going to Kenny. We'll cut that out. I'll pick it up from here.
[00:14:49.170]
So you had the marine biology degree and then you went into this business and you started this business on the floor and then. A few months later, her husband passes away. What? What I mean, how did you deal with that? How did you survive? I mean, I know so many people would have just rolled up in a ball and said, I'm done.
[00:15:08.080]
There were times that I wanted to do that. But you know what? I knew I could. I had a three year old. I had a seven year old and 10 year old. And I was self employed. And it was off season. So there were times that I didn't pick up that emergency phone. But it was January. I had like two guests in the house. So I call him back next. I'm so sorry. And I really would like remote batteries, you know?
[00:15:29.500]
I was blessed, too. I think it's kind of a. I'm so glad that that opportunity was put in front of me by Marco when he suggested it, because I was able to pour my grief into that, you know. And you can call me a workaholic. Most of us are in this industry. But it was something that I could really. Go through. I agree that company was like my plan, you know, and it became my heart and soul and it was a very I was very emotional to sell it to.
[00:15:56.640]
You know, it was kind of our baby that we had created. And then the day. I just had it. I had to get up every morning and put on my face and go. And I think to do well in adversity, like when things get harder. That's my thing, to step it up. I don't know why.
[00:16:12.410]
And I wanted you to share with. I poured my grief into my new passion. And it was hard and it was helped me to refocus.
[00:16:19.400]
And I think that's what for so many agents right now that, you know, Tom Ferrey uses the term they put themselves on it on a 12 week furlough through Cauvin, and they're unemployed themselves. And you know what? You can't do that. And you just need to take this frustration, this grief, this aggravation. Just put it back in and figure out how to make it work. So let's jump back now to. People want to buy your business.
[00:16:42.920]
I didn't want to miss that because I think I was so powerful for people to know that shit happens, man.
[00:16:47.750]
And you just you gotta keep your head on your shoulders.
[00:16:51.490]
So so somebody comes. Couple of company coming. They want to buy your business. What do you do?
[00:16:56.320]
So I remember. This is great. We were at a Vermont vacation rental management Mansmann like, nah, basically. And the association and I was an active member of that association and. And one of my I made I networked with a lot like great people in the industry.
[00:17:10.460]
And there called me and one of them said, Lindsay is here and I want to talk to you. And I said, why call me? And I'm like. And I had heard of the costs of that, you know, because I was within the industry. And I was like, oh, my gosh. And I realized what was going on. And I had to give my employees with me. And they didn't get it. Do you know what I mean?
[00:17:28.400]
And I'm like, okay, well, we got to get this cabin, go here and sit down and meet. And it was really overwhelming. And it's funny, I was getting phone calls for people that want to sign on to my program, and I haven't excuse myself from the table to go outside and talk to the new owners that want to. They'd be in the program and, you know, it felt good. It felt good that that someone that I, I guess, recognized that that I had something good to go.
[00:17:50.960]
And I mean, because it was frustrating and it was lonely. It's like they run a business by yourself sometimes.
[00:17:56.030]
And for everybody out there, I mean, a lot of us knew what Bokassa and who've Acosta is, but they've become one of the biggest vacation rental conglomerates of rental management across the country.
[00:18:06.350]
So if they're not in your area, they're probably trying to get there. And I just read an article I came in this morning that said, you know, they were quoting the one of the people in Bokassa saying that there's their rentals are going through the roof and they brought nearly everybody they laid off back on because vacation rentals are so active.
[00:18:25.790]
So you sell the business then? What I mean or is there a story about that?
[00:18:31.410]
I we didn't really talk about. So you want to share anything about how their experience went in and what the transition was like? And then what did you do.
[00:18:38.260]
It was it was while they were it was it. I definitely would think about I need to write a book one day or write it down for myself, you know. But I didn't represent myself, which is what which is or I did. I'm sorry. I did represent myself. I didn't have a lawyer because I didn't feel like I needed one. I didn't think I understood it. How that how that transaction would go down with what was on the books and, you know, the things like the properties and how much they were worth and a lot of them didn't.
[00:19:03.740]
So I represented myself and I don't represent myself. And I buy like real estate. I'm too emotional. So and this is my baby was you know, the the constant team was so great to me. And and they really they the people involved and they were awesome. And I that was probably I never bought and sold the company sense, but that was a very good experience for me. Granted the emotions that were involved with it. And and then I had to kind of figure out who I was again, because, you know, I'm going to step back.
[00:19:31.370]
If if you were to do it again, would you recommend to somebody who may have a vacation rental company or a real estate team or business, would you recommend that they hire counsel or somebody to represent them?
[00:19:43.120]
Yes. Because you did it by yourself. Pardon?
[00:19:46.370]
Just the emotions. You know, it's just like with real estate, you know, when you work with another agent that represents themselves, they act like the buy that seller. You know, that we all that we all revert to that, I think. Or at least I do. So, yes, definitely get representation.
[00:19:59.660]
So now you've got a pocket pocket full of money, we assume, which you won't talk about that. And now you say, OK, crud, what do I do now? Found the real estate. Well, I wasn't supposed to work with my broker's license for a little while or the vacation rental industry, so I took a stab at new home sales because I was like, what else do I do? I've been in real estate for 14 years, you know?
[00:20:22.030]
So that was not my. I mean, I worked for a great homebuilder and I was. But it's that primary home stuff. And you're limited to this certain inventory you hired was not me. And I could not go back to a corporate world. I was not a good employee again. I like to think outside the box, you know? And so I decided that I would go at it again. And I had come up with the LLC Galveston Vacation Real Estate in 2014 when I saw that there was definite relationship in that type of transaction that that people still aren't really taking notice of, I think.
[00:20:55.150]
And I just opened that back up and went for it. And it just so happened my favorite words that I ever base now on realtor dot com. Do you know anything about vacation rentals? You know, and I feel like I do, you know, and I really did. And I get the knowledge and experience I have as a property manager has really allowed me to create trust and expertise with my clients.
[00:21:17.290]
So, you know, I want to go right back to your name. You do super detailed N-E right into it. So we are Galveston vacation, real estate and not resort. I mean, not second. I mean, not primary residence that Galveston real estate, but vacation, real estate. Because you just wanted to deal with people that want to vacation property so super. And I love that.
[00:21:40.380]
And when they're looking through realtor dot com, you're saying you like real true.com.
[00:21:46.860]
Now we're seeing that name and they're saying, hey, this is who I want to talk to. So powerful.
[00:21:51.430]
I like the SVO word. That's kind of why I picked it out, too. And plus, Galveston real estate was born. So, you know, it's like I'm from the vacation. And that worked and. You know, it's just it became the coolest investments that sliced bread in those two years that I was gonna Galveston really took off. Galveston is an amazing and amazing place for opportunity in terms of investing in the real estate market right now. It always has been.
[00:22:17.300]
I used to call it Houston, Hamptons back when Houston didn't like Galveston so much, you know. And it's you know, Galveston is really set it up. And just to see the evolution of the city from 2008 when Hurricane Ike blindsided us and and to what it is now. I mean, we've got the biker rally in November, which is a holiday weekend now. It's right. Undersurface slides. Mardi Gras is huge. And then we've got basically, you know, we've got the winter Texans, our snowbirds come in because the airport's 30 minutes up the freeway and that's the international airport.
[00:22:51.150]
So your art hobby.
[00:22:52.990]
Houston Hobby. Oh, Houston, OK. And you just come straight down I-40. Forty.
[00:22:57.250]
We're talking to people all over the world here. We don't know what the hell how do you know what a huge icon is? Why it's just a hobby. Sorry if I became the second international.
[00:23:06.360]
But Lindsay, I got to tell you something. I don't want everybody to hear this right now. So when I do these shows, I do these for the people that are out there listening. But I do them more than anything for me because I learn more and get more ideas and opportunities from listening to the people that I have on the show. And I want you to know that, Kenny, when we are done recording this, Ken, he's my producer.
[00:23:27.450]
We are going to go right on to go, daddy. And we are going to buy my Maui vacation real estate dot com.
[00:23:33.430]
And if you guys are on. I'm just kidding.
[00:23:35.940]
I turn out there right now thinking yourself, I need to own the you are l for whatever town I'm in vacation real estate dot com. You are missing an enormous opportunity. So I might be gone.
[00:23:51.070]
Getting out right now. Opportunity buyer to be gone. It might be, but I am not.
[00:23:56.980]
Pardon. I'm a weird domain person. I own about a hundred and sixty domains. And you know, that's another matter. Maybe not that much.
[00:24:04.780]
So if if if that mall if your vacation real estate portal or your URL is gone. Call Lindsay. Maybe she'll sell it to. I'm trying her not to butt in here, but a massive vacation real estate dot com is available.
[00:24:21.600]
Bye bye. Right now. So you guys listen to this. This is for real. Should happen. And right now, just go ahead and buy it. Can you know what to do? Do it. It it done before anybody else on it.
[00:24:32.470]
Destinations are all islands by all by Hawaii.
[00:24:36.580]
Hawaii. Vacation, real estate. Dot com as well. I am telling you, this is one of the best takeaways that I've had on my show. So. So like I told you earlier, sometimes we go into Bunny Hills and it's just the way it is. But this is super, super valuable.
[00:24:53.410]
So you start your company and now you're you're starting to sell real estate. And now you're really connecting with people because you can answer the questions. And that's what I loved about when we filled out your interview. Like, I know what people want to know. I just. Besides how many bedrooms it hasn't. How many square feet? How is it going to rent? What kind of money is it going to generate? So tell us how you now evolve that conversation, script, whatever you would call it, into your sales yourself.
[00:25:21.190]
I'm really you know, I'm a big person on. You got you know, we buy leads because my sphere of influence is buying a house. So that's just from it is what it is. And it's more of a sales deal. So we invest heavily in it. It's definitely worth it. And it's really about the why. There's a lot of emotion behind these purchases. I think more so than primary residence sometimes and getting to know what they want, why they're buying.
[00:25:46.810]
What is it that they're trying to fulfill? Is it straight investment? What's their strategy? Half. And they're going to use it. You know, I asked them the questions that they don't even know they have yet, and they mean sister. And I keep it on the phone and I get. I sell them. I tell my agents all the time. I sell them. You sell. I'm Donna. First they got to trust you. They got to remember you because they're three other agents on same time deepen.
[00:26:08.410]
And you didn't get fast to that.
[00:26:09.760]
You know, the bouquet toss. I call that the realtor dot com throws it out. So I learned about that. There's flex leads and fast leads. That one. Yeah.
[00:26:21.090]
But by the flex leads, those are the those are the ones where you don't have the bouquet toss. I call it the bouquet toss because you got three agents diven for a lead.
[00:26:29.050]
So anyway, it's got to be so annoying that the consumer I play that game too. I'm like I just got annoying. How many people have called you? I just got cussed out the other day by somebody and maybe just a brutally cuss me out. It's like call realtor dot com and tell them what you think of the system.
[00:26:43.110]
Don't be yelling at me like you gave me your phone number. Yeah. So I'm sorry. Again, I'm bouncing all over the place. You get me all excited. So how are you? So you're you're using realtor dot com. Let's talk a little bit about that.
[00:26:56.140]
And because you're right, we I live in Maui, Hawaii. You live in Galveston. Our sphere of influence, our people are coming from all over the world. They're researching what? Why do you like real true.com better than Zillah? I had a conversation that can go a different direction with any. You know, I didn't like that. Like the rush into the phone thing. Like you had to rest. I guess I get to see the rest of the film.
[00:27:22.220]
But it was always like when I was in a not a place to answer the phone, it would rain. And that bothered me, you know. I mean, and I didn't necessarily I just like the real dot com means to me. Were they? I was getting a higher close rate on, you know, just looking at the numbers through our CRM. I mean, those are the ones that were that were bringing in the money and they just seem higher quality.
[00:27:43.390]
And I and I get it. I mean, and I said both. I mean, I spend about the same amount of money on both Real's recombinant zillo, and they both piss me off and I get frustrated. I yell at my reps. But, you know, right before our call, I was late for four hour recording because I just got a five million dollar lead. And it's like, but you're right.
[00:28:01.830]
It's like the phone's ringing. It's like Zillo bouquet toss.
[00:28:04.110]
That's what I have on my phone. I mean, it's like I shit, I got to take this right now. But they work and it's it's that conversation. So what is that. What do you ask those people when they're just randomly calling? You know, my goal is to keep them on the phone as long as possible and not really talk about real estate. You know that much because it's a different sales pitch, right? So when they call us, they're just starting they're not going to buy tomorrow.
[00:28:28.390]
You know, some people worked with for a day, some people I've worked with for three years. Nurturing process is different. They want you know, we all know them better. Am I really try to get to know them and deliver or and stand out from. I know that there's other realtors that they're calling because they're not really sure what's going on. I make sure to explain them that I'm not the listing agent, you know, that they probably don't want to talk to them unless they want to talk to the seller.
[00:28:49.300]
You know, that they want their own representation. That is the rapport with people. You know, that's that's a lot of my agents are shocked. Like you talk about that with them, I'm like, well, I mean, you know, I talk to them just like I talk to you. And I'm very honest. And and I'm I would never read them. I'm just very. Do the right thing. And I. I'm honest and I care about my clients and their well-being and, you know, I mean, I do everything I need to do to take care of them.
[00:29:18.670]
It's really about the service, the clients that somehow I think I think, you know, the number one rule of sales is is not to sell, but to people buy from people they like, know, like us, trust. And that that getting that rapport, building, that relationship, having them remember who you are because they don't know. What I've found out is they call up through Zillow, through real True.com. You introduce yourself within 30 seconds.
[00:29:44.140]
They have no idea who they're talking to.
[00:29:46.820]
You know, I know I like the finished conversation with I know you probably don't remember my name, but I'm going to send you a text as soon as we hang up with my name and my phone number and my contact information. I'm going to send you my E card. And then I also and then I also send them a video that says, hey, this is Tom. We just got off the phone. I just want to put a face with the name.
[00:30:09.940]
And when you combine those three things, you then create that know, like and trust. And I think so. That's some of the stuff that I've been doing. And it's been just incredibly powerful. And it's just. But it's all starts with that report. Right.
[00:30:25.450]
Are you using Bonbon? No, I'm not.
[00:30:28.440]
I well, I do have Bambam, but what I've come to find out is that I have gone straight to text text with 15 seconds or less, because what I what I realized bom bom is great and lets you know if they open it and how many times they look at it. I do use bom bom for other things, but for this immediate kind of thing I want them to get it right into their text. I want to not have to jump through hoops to open it up.
[00:30:54.280]
I wanted to see my face and a little arrow sign and my. And then I'm sending them my contact information so they know it's coming from me immediately. And it's literally if it's more than fifteen seconds, I delete it rerecorded and it it's just been really, really easy to work.
[00:31:12.210]
I we've got a great I mean I, I believe that the biggest tool, the matzo ball is going to be my CRM, you know, and it's business and that's I mean that's right in the show. That's where I'm going to get the best bang for my back.
[00:31:22.600]
And I love. Follow it boss. Let it. Let it. Let it. And I find on it then gosh. Four years ago and I just they've just it's such a robust system and I text from there, you know, I think call, text, email. If you can't get it from you know, from like rotate please leave. That's my agent. So. Right. I know that fellow bus is great.
[00:31:43.390]
I've, I've worked with real Volvo and they they've reinvented their front page of their page so that it includes second home, third home, fourth homeowner. If you've seen that now, I like to think that.
[00:31:54.580]
Take a look at that. Thank you.
[00:31:55.690]
That was me. I, I, I made them do that and that made them I encouraged them to do that. So if you're thinking about a CRM real, I'll follow buses. Great. Real love. If you go there, please reach out to me because I got a little relationship with them and I can maybe get a little Speth out of it. And then another one that I just got exposed to. And it's a Canadian company, but they have resources in the US.
[00:32:17.950]
Pardon. Sorry. And it's kids.
[00:32:21.340]
And you know what? So I'll talk more about that because there's some cool stuff that I'm going to probably bring them on the show to chat with.
[00:32:27.330]
Anyway, Boyum, you're just ask me a question. It's you're not doing the podcast, not me. So thanks for that Segway.
[00:32:34.810]
So let's talk about you. What do you got going. Anything new and exciting that you're involved with?
[00:32:39.660]
Yeah. You know, I'm always trying to think that tech is important, you know, obviously. And I think being on the up and up on that and and really what I found is that you just give these people the information they want, like the numbers. And Nakhon, you know, I started I met and do some incredible networking. I have a great guy. I actually met in person yet. And we've only seemed like twice that. We've been friends for over a year now.
[00:33:04.330]
Colin Harvey is an ex V.P. for the Cossa and he gets that the investment vacation real estate concept. And he's more of a numbers guy and he's helped me really with his company. We're looking at, you know, we've been doing he's been consulting with me on helping me learn how to present cap rates and say, well, you know, some great things, some great tools that really it late and it's right there. Why wouldn't you buy it?
[00:33:31.630]
You know, and my hair, DNA and things like that. Doing projections. And then we also have and I think that's really it. It's finding these people. But there's so much emotion, too. And I think that kind of surprise calling a little bit, you know, you still have to have that local knowledge.
[00:33:47.100]
And I think, you know, there is a market that's going to love the the data, the the the return rates and all of those things. That's our analytical buyers. But then there's that market. That's the I just want to buy for my kids to have. And then there's the market that says I just I want to buy something, but I don't want anybody sleeping in my bed. And it all goes back to something so important that you said.
[00:34:12.870]
What's your why? Right. To have that conversation. Do you want to rent it? If they don't want to rent it, that's OK. Just understand. Can you afford it? It's OK. Are you paying cash? I mean, I loved when I was new in the business. I was always afraid to ask the question, are you paying cash? Now it's like my first question.
[00:34:29.830]
I know you always wanted to say, are you financing, you know.
[00:34:34.350]
Yeah. Do you have that? So with with Collins gig.
[00:34:38.630]
So he's basically creating a platform or an app or a program that will help people to create cap rates, right?
[00:34:46.290]
Yeah. It's a cool tool at the end. And check it out. I mean, still in the making and at it's aesthetic rates of its revenue. Home dot com and ah, you can contact me and I can get you more information on it.
[00:34:58.220]
OK. Reach out to Lindsay. She'll show can. Actually she's part of this and so it'd be great for her to be able to help you understand a little bit better and and what, how it can work. Lindsey, a couple other quick questions. So you do a little everyone. So Alah do a rapid fire. But I'd love to do it with you. So you're prepared for this? Normally, we might give a heads up or not, but if you don't want to answer them, then don't.
[00:35:21.330]
What's your disc profile? Mind us profile.
[00:35:24.220]
Yeah, I'll be honest with you. I don't know. I just bested a amount. Again, I need to re redo. I mean, I have mine from my corporate days, but I want to get anoma agents.
[00:35:31.580]
We were just talking about facilitate that. Well you know what?
[00:35:34.470]
Tell your agents to watch my podcast from. Today, it came out this morning, which is while you guys would know what it is, it's a July or June twenty ninth or June 30th. I mean, that podcast, it'll be years will be in a few days. So behind and talks about this. But who do you follow in the industry.
[00:35:55.460]
Who do I follow for real estate wise. And I really. Really follow any body and really follow. I mean, like if Tom Faery or Mike Faery or any of the Koshin places or in men or I've got I've got a great coach.
[00:36:13.170]
I worked with them, Angela. She's great. She's in Georgia and she she's been great. But I like men. I love and men. I do a lot of I'm ADHD so I'm real. Kind of like late night surfing the web looking for the newest stuff. What's the newest thing coming out on my test? This. You know, and then it's good for me. I do a lot on bigger pockets dot com. I do a lot of reading on there.
[00:36:36.090]
MASH. I've seen some good stuff on there and I'm always trying to learn how write.
[00:36:40.400]
And it's probably useless than any other any podcasts I've got besides this one.
[00:36:46.510]
You know, I want to I have so many podcasts on my thing. I like self-help. I mean, people are like, wow.
[00:36:51.400]
But I'm I love I you know, I need to get back to my path.
[00:36:54.640]
Has a band music mode for a while. So that's what happened.
[00:36:58.370]
You know, you listen to you sort of binge. Listen, I was been binge listening to Matt McGee. He does this new podcast called the The Walk Through. And I just been it's been fun, but OK, what do you do for fun? I play golf and I fish play golf and fish. What's your why? What's your. My wife. Somebody else's. My wife beater. Two kids or three kids.
[00:37:20.570]
T
Visit Podcast Website
RSS Podcast Feed
Subscribe
Share
Add to MyCast