Podcast: Crazy Sh*t In Real Estate TM

Crazy Shit In Real Estate

Summary:

Do you smell cookies? Leigh and Holly do in this episode of CSIRE, where they decide to lobby for snack baskets and cookies. But it isn’t all chocolate chip and oatmeal raisin; Holly Mabery, leader, educator, and veteran in the real estate business, discusses the need for questions, advocacy, connection, and community protection in the real estate business. Tune in to hear where Holly believes real estate agents are falling short, how we can impact our communities, and what we can do to protect our clients from inevitable changes in a cyclical market.

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Time Stamped Show Notes:

  • 00:54 – Holly is outside of Sedona in a place called Cottonwood; 3rd generation realtor and 4th generation Arizonian with 19 years in the real estate business
  • 02:50 – People think real estate is easy
  • 03:05 – Just sold her childhood home; it was the first house her mother purchased and sold
  • 03:40 – She had to explain agency to her mother; she could represent her parents but not the buyer
  • 04:22 – She has coffee with her mother on Sunday mornings and tells her about her day and work
  • 04:53 – Mother asks, “Did you sell something?” and is concerned that real estate “isn’t going to work out”
  • 05:39 – Explained to her mother that the process of meeting with a client and finding their house takes time and a process
  • 06:23 – Reminder that she must slow down and make sure everyone is on the same page
  • 06:34 – Grateful for her parents because they are still teaching her
  • 06:50 – Went out on one of her first foreclosure listings as a young agent
  • 07:02 – She was so excited and she went out and it was a single-wide trailer
  • 07:13 – The front door was open and the inside was a mess; everything was gross, there was trash from the neighborhood and it smelled terrible
  • 07:56 – There was no door; she used a piece of plywood and got a door
  • 08:59 – When you do cash for keys, you see people who are just down on their luck but then others are jackasses
  • 09:12 – You can help people and help work with them and the bank, others you just want out
  • 09:32 – Sometimes there’s evidence of human trafficking, drug abuse, child abuse, etc.
  • 09:45 – She fell through the floor of a foreclosed mobile home property in Central Phoenix
  • 09:51 – The holes had been cut in the floors to hide drugs
  • 10:20 – Open carry for those kinds of properties
  • 10:39 – Mobile homes are most affordable housing option right now
  • 10:50 – Even in a condo, you give your life away in HOA fees
  • 11:01 – She was VP of her HOA one year and it was a “special kind of hell”
  • 11:20 – HOA board members were so fussy about the smallest details
  • 11:40 – “Their light is on…that’s my favorite” (talking about HOA complaints)
  • 12:00 – They think its paid leadership
  • 12:18 – Lobbying for snack baskets and cookies
  • 12:54 – Did you expect to see yourself in a leadership/instructor role when you first started?
  • 13:01 – She came in to the business at 23 straight out of college and didn’t buy her first home until after 1.5 years of selling
  • 13:47 – She started reading the papers and giving the team relevant information
  • 13:57 – She got on the board and saw it wasn’t run the way it should be
  • 14:26 – If you are going to do something well, have a high sense of collaboration
  • 15:00 – How do we get to where we want to be and how do you motivate people to get there?
  • 15:05 – Sometimes it’s knocking on back doors, making conversation, meeting new people, breaking bread with people
  • 15:38 – Channel what you know to be better into people that haven’t heard the message
  • 15:45 – She was teaching LTA with Evan Fukes at a Leadership Training Academy in AZ and she asked, “Why are you here?”
  • 16:05 – She hit a metal easel behind her because she was frustrated and it scared everyone, she knew she crossed the line
  • 16:18 – She said, “I need to know why you are here and what you do for your members!”
  • 16:43 – Clients deserve better – most agents suck at telling the customer why they show up
  • 17:08 –Agents are told to “list to last” but schematics aren’t taught
  • 18:00 – People start to crowd source to learn how to sell but they aren’t told the full story
  • 18:30 – The problem with team structure
  • 18:39 – Green agents jump on a team and are told they’ll be educated and mentored
  • 18:45 – Team leaders just sees “who sticks,” and customer is lost in obscurity
  • 19:18 – In NC provisional brokers shouldn’t be in teams because leaders aren’t capable
  • 19:26 – New brokers still get in through loopholes and they reflect poorly on other realtors
  • 19:36 – Disconnect between broker, team leader, and whoever else comes along
  • 19:44 – She has a heart for new agents: All they’re told is to make phone calls and get leads
  • 19:58 – It’s about closing and helping people on the back end
  • 12:10 –They say how many leads they get but what matters is what they close
  • 20:28 – Team leaders push calls but don’t teach them the real valuable information that they need to communicate with the client
  • 21:03 – Need to explain to consumer the difference between realtors
  • 21:15 – Consumer should use sites, but then find good realtor to guide them
  • 21:30 – Agents aren’t connecting with client at that deeper level to ask the right questions
  • 21:40 – Agents need to ask the right questions, ask about their goals, see how their goals fit with the market, and get them to their goal
  • 21:54 – Best realtors will get solutions from financing standpoint, find investor depending on what they want to buy, and ask questions to get clear on their long-term goals
  • 22:19 – It’s fascinating how the number of people who got upside-down during the dark time were never asked, “How are you going to support 10 rentals?”
  • 22:23 – We should keep asking questions knowing another recession is going to happen
  • 22:35 – In a low inventory market, people stop asking questions
  • 22:41 – This cycle goes back to foreclosures; the realtor didn’t ask enough questions to protect the end user
  • 22:55 – Ask temporary and long term goals; this is a long-term investment
  • 23:20 – Great opportunity for skilled realtors that understand that the market is cyclical
  • 23:32 – Pay attention to changes in legislation and be proactive
  • 24:00 – We tend to be reactionary in business and associations, but regarding advocacy, “climb the mountain today rather than fight the fire tomorrow”
  • 25:15 – The bill is going after much more than housing; it’s going after institutions and people and how they live
  • 25:33 – People think of themselves, but realtors should watch out for everyone in the community and say something if it could negatively impact others
  • 26:10 – Provisions will affect everyone now or later but people are so self-centered
  • 26:39 – Comparison with other markets (rentals/ownership) aren’t relevant
  • 27:08 – Housing is a main driver in the U.S., 20-30 are involved in home sales
  • 27:36 – Holly knew a flower shop owner who went from working with 40 realtors a month to two during the recession, for example
  • 28:00 – New bill throws a boulder in a puddle
  • 28:30 – Look at what people do for homeownership; she is remodeling bathroom and tradespeople have gone in and out
  • 28:48 – Tells you how budget/business must change for the long game
  • 29:02 – Agents miss opportunity playing the “one and done today” game; stop being pissed at NAR for standing up for people on national level
  • 29:19 – Look at the impact on your community; on people like the flower guy
  • 29:27 – If we educate new realtors we’ll have better advocates in the future
  • 29:44 – Leaders don’t want to talk about advocacy to new realtors due to money and that’s an opportunity lost
  • 30:07 – At a listing appointment, don’t just spotlight MLS and a sign in their yard, but also negotiations, repairs, lender management, appraiser work, services, etc.
  • 30:34 – You miss an opportunity to show them what you do
  • 31:10 – Reach Holly at azheartland.com or hollymabery.com, Facebook, or Twitter

3 Key Points

  1. To do something well, you must have a high level of collaboration.
  2. Ask questions; your questions could save your client in the future.
  3. Understand that the market is cyclical and advocate to help protect your community.

Credits

Crazy Sh*t In Real Estate Episode 94: Holly Mabery

Aired on:
November 13, 2017

Do you smell cookies? Leigh and Holly do in this episode of CSIRE, where they decide to lobby for snack baskets and cookies. But it isn’t all chocolate chip and oatmeal raisin; Holly Mabery...

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