How to Sell Homes in a Low Inventory Market – with Jimmy Rex
Nazar Kalayji [00:00:00]:
Awesome. Thursday. It’s crazy for those that were in Florida this last week, 80 degrees yesterday, and I was freaking sweating so bad everywhere. And then I flew back to St. George, and I’m, like, freezing cold. And so it’s just been an interesting ride. Good to see you on here. Chuck got Jimmy Rex in the house.
Robert Mack [00:00:21]:
What’s up, Jimmy?
Nazar Kalayji [00:00:22]:
Actually, never met you in person, Jimmy. Seen you, heard about you. You’ve done amazing things. And I will never, ever jump off a good helicopter or bridge or any of that crap that you guys do. So that’s why you and I can’t be friends, but I’m not the friend.
Jimmy Rex [00:00:39]:
You want in your life. If you want to be comfortable, I’ll.
Nazar Kalayji [00:00:41]:
Say that I like my comforts.
Jimmy Rex [00:00:45]:
Yeah, that’s good.
Nazar Kalayji [00:00:46]:
I like my warm showers and comfortable ground floor, you know, not fall off. And anyway, I guess we’ll give another minute and we’ll get rock and rolling. We’ll have Mr. Mac do the intro, and then we’ll get. So, yeah, I got team Farnham in the house. All right, I invite you guys, if you guys can turn your cameras on. It’s always best to be able to do these Zoom meetings with cameras, but let’s get rock and rolling. I’m glad that these are recorded.
Nazar Kalayji [00:01:19]:
So this is recorded. It’s posted on our site. And then also we get this, and we have it as a blog. Not a blog, as a podcast. So you listen to it as well. All right, guys, welcome to this week’s master class. We have Jimmy Rex in the house. And Rob, go ahead and take it away as far as doing the intro, and we’ll go from there.
Robert Mack [00:01:43]:
All right, I got something prepared here. So Jimmy Rex and his team have sold over 2500 homes since 2005. He runs Utah’s number r1 estate team. And when it comes to creating opportunity for buyers and sellers to be matched up, no one does it better. Jimmy is not only passionate about helping buyers, sellers, and agents win, he is obsessed with creating a healthy man, woman, man or woman during toxic times through his programs. We are the they queen’s edition, and we are the they next gen. He is a master connector. He is my brother, and he’s an overall amazing human being.
Robert Mack [00:02:16]:
He’s got an incredible podcast called the Jimmy Rex show where he interviews legendary guests, and literally, these guests are legendary. It’s a must follow podcast, and he’s coming out with his newest book, b one, in just a couple of months. If you want to sell more homes, listen up, because today Jimmy is going to help us all connect more of our clients to their dream home. Please give it up for Jimmy Rex.
Jimmy Rex [00:02:38]:
Thank you, brother. Thank you for having me on. My favorite subject to talk about is still real estate. It’s been almost two years now to the date that I turned my real estate team over full time to my team, and they run it now. And I think last year my team did about, I think we did like 278 houses still. And so they’re still running and producing. And I personally spend less than about 5 hours a week on real estate now. I had to save a deal yesterday.
Jimmy Rex [00:03:04]:
The appraisal came in low and they were going to bail out, and so I had to jump on a call and I’ll do a lot of leads and things like that. But overall, I’ve had the opportunity, which is rare in this business, to be able to. I had an amazing partner and turn the business to him, and he just crushes it. But it is my favorite subject to talk about. Every good thing that’s ever happened to me in my life is because of real estate. And so honored to be on what I probably will do. I know we got about a half hour is maybe just share some things for 1015 minutes and then just ask questions from you guys. I’d love to just more hear directly kind of what’s going on with you and what questions you have.
Jimmy Rex [00:03:38]:
But one of the things that Robert wanted me to talk about is kind of how to sell homes in a market where there’s not as much inventory there. It’s a little bit tougher to do that. And I wanted to go back. One of the things in our market right now, we have about a five and a half month supply of homes on the market. And to give you guys an idea, how many of you guys were doing it in 2008, 2009, selling houses? Any of you? A couple of you? We had a 22 month supply of homes on the market in Utah. To give you an idea, it was about four times tougher to sell a house than it is right now. And people often ask me, they’re like, how did you guys get through that? How did you do it? Or whatever? And I always just say, I’m like, I don’t know, what was the other option? Like, be a loser, you know what I mean? I was like, I was just going to win. I knew that I was going to sell houses.
Jimmy Rex [00:04:19]:
And even though I was broker than I’d ever been, I was the number one agent in our office during that time. And I think ultimately there’s a couple different things I always think that there’s opportunity in every market. That’s one of the things that my mentor, Mike Ferry would always say. And it’s true, though. And I think we get so caught up in the way that we were doing things or the way that we’ve been doing things. And as humans, we don’t like to change. We move slower than a cruise ship. We just don’t like to turn quickly.
Jimmy Rex [00:04:48]:
And I think as the market started to shift and change about two years ago, about right when I turned it over, to be honest, it’s been interesting to watch different people and how they’ve reacted to this. I’ve seen several agents that are having their best years ever, and then other people that are dropping out of the business left and right. And one of the things that I kind of wanted to touch on was just a couple of things that I did during the down market before and that I am doing now. And one of those things is people are going to gravitate to the person that makes them feel good and makes them feel safe. And so are you a person in the marketplace that conveys confidence, that helps people feel like, oh, my gosh, you know what? That’s my captain. Like, that’s the guy, that’s the general I’m working with. We’re going to be fine. And so the number one thing I try to do is convey that confidence to my sellers and my buyers.
Jimmy Rex [00:05:40]:
I think as agents, we tend to get caught up into the traps of what the bad news is, and we get a little bit worried about stuff. But I knew that I was the best option those people had to sell their house. And so when I sat down with want, this is the most important thing. As I was thinking about this topic, Robert, I kept thinking to myself, what was the thing that made me different? What stood out, and I can tell you what it was, is when I sat down with every single client, I believed in my core that I was their best option. Like, I had been doing the research, I was putting the time in, I was doing everything I could to sell their home or to help them buy the best deal. And so when I sat down with them, I would tell them straight up, I’d say, listen, I can’t promise you your home is going to sell in this market. I can promise you this. I’m the best option you have.
Jimmy Rex [00:06:26]:
And if you hire me, I will work relentlessly to make that happen. And they would go with me every time. And when I had a buyer and I’d say, look, I’d say, are you planning on being here for five or six years? Yes. Then buy the house. It does not matter. Here’s why. And I could explain it to them and I’d show them why, and I’d say, look, ultimately, you’re raising your family. How many more years do you want to raise your family? In the wrong place? Yeah, it’s going to hurt a little bit.
Jimmy Rex [00:06:50]:
There’s a little bit extra cost. Here’s the bad news. Change that. And anytime that we want it to be any different, it’s just not going to happen. But if you want to be in the house you want to be in, in the area you want to be in with your family, we need to move now. If rates drop, we’ll refinance. If prices go down, it doesn’t matter. You’re locked into your house.
Jimmy Rex [00:07:07]:
But I was able to convey that in a way where I just spoke with so much certainty and so much confidence with them that people got off the fence right now. People want you to tell them what to do. People want you to tell them, listen, here’s what you need to do. I had a buddy the other day. He’s one of the guys that I actually coach in my coaching program, Brandon Andrew. You very familiar with him, Mac. And he had a townhouse. He bought this about a year and a half ago.
Jimmy Rex [00:07:30]:
I don’t know what the hell he was thinking. He didn’t use me. He tried to go straight through the builder. He was upside down in this townhome. He bought a townhome in Utah for like, he was into this thing, like 575. I’m like, dude, you’re a freaking idiot, first off. But he literally calls me and he goes, dude, I need to sell this. I’m losing $600 a month.
Jimmy Rex [00:07:46]:
It’s a mess. I pulled it up. I mean, he’s going to lose a minimum of 40k if he sells this thing right now. And I said, look, here’s the deal. Here’s what it’s going to happen. Boom, boom, boom. And he goes, I don’t know if I can do that. I said, then just keep it.
Jimmy Rex [00:08:00]:
And he goes, well, no, I need to get rid of it. I said, then that’s what’s going to happen. He goes, okay. So we get an offer. And it was kind of funny. The agent there was like six of the same units for sale, these same townhomes, and she picked mine because I had a friendship with her. And she’s like, I want to sell yours. So we get an offer.
Jimmy Rex [00:08:15]:
He’s actually going to lose, like, 50 grand, right from where he bought this just a year and a half ago, and. But told him, and I knew this, all the other ones that were listed, the same ones, were like, 15 grand lower than us. He would lose another 15 or 20 grand if he waited. And that’s exactly what’s happened on these. So when I called him up, he’s like, no, dude, I’m not doing this. I’m not going to lose that much money. And I just went, Brandon, you’re being a dumb ass. Listen to me right now.
Jimmy Rex [00:08:39]:
This house is going to be worth 15,000 less in six months. You need to get rid of this. You already said that there’s an option here other than either sell it or just keep eating the $600 a month. I go, I promise you, this is the best deal you’re going to get. We’re lucky to have this deal. He goes, okay, let’s sell it, because he needed somebody. Like, your job as a realtor is to help people make good decisions. And I could do that because I knew I was right, and I was right, and I had his best interest in mind.
Jimmy Rex [00:09:06]:
I didn’t give a shit about the commission. I just knew that that was in his best interest. And I knew that because I’d studied the market, I know where it was going. I saw the other six listings that were less than his, and I knew if we didn’t take that offer, we were never going to get that price again. And so when you convey that kind of confidence to your clients, when you can speak that way to them, they love you for it. They want you to be the expert. They’re dying for somebody to take charge and help them steer the ship during times where nobody knows what the hell is going on. Like, when you speak with clarity and you just go, look, this is where rates are.
Jimmy Rex [00:09:36]:
They’re not going down. If they go down, we’ll refinance it later. But here’s why you need to buy right now. And then you speak with confidence about that. All of your buck get off the fence, all your sellers will get off the fence, but you’ve got to be able to speak that directly. And that much confidence, that’s the most important thing you can do. Second thing you got to do is you got to start listening to people more. So, for example, when your sellers are telling you they want to sell a house, you got to really understand why that motivation is going to be everything.
Jimmy Rex [00:10:04]:
And if they’re like, well, this is the neighborhood we want to move to, or we got to get this or whatever that is. If you listen to them, then you can keep hitting that motivation and all of a sudden it doesn’t matter that rates are up, it doesn’t matter. There’s not as much inventory. All these other things don’t matter because they have a motivation. And you hit that motivation, then you’ll help them get that thing done. The same thing with a, when they keep saying like, well, this is, it’s like, look, either you’re motivated or you’re not. By the way, guys, this is a little secret that Mike used to teach me. The only reason we work with unmotivated sellers or buyers is because we’re too lazy to prospect to find better ones.
Jimmy Rex [00:10:36]:
Like we want to hang on to our little buyer because they might buy something one day and we’re like, they said they want to buy, but they’re not motivated. They’re not doing anything, they’re not taking any action. The only reason you keep working with that person is because you’re too lazy to go out and find a better lead, period. And so you got to become obsessed with the lead. Prospecting the lead generation side of things and just getting better clients, they put me in front of stages where I would talk in front of 2000 people. I’d do the script for, for sale by owners. I remember I was doing it one time and they’re role playing it with me and they start giving me these horrible objections, like, impossible to sell their house, basically. And I just go, oh, that’s your situation.
Jimmy Rex [00:11:16]:
Okay, see you later. And I hung up. I go, that’s not going to work with that person. I’ll just call the next lead. I’m not going to try to work with every person. I’m cherry picking the people that want to do something right now because everybody else is going to waste my time. And I had a rule, like, had a lead, and there’s this thing, there’s this ability to just throw a lead away, right? I would call the lead a couple of times. If they didn’t get back to me, I’d throw it away because that meant I had no leads.
Jimmy Rex [00:11:40]:
I had to go find new ones. But we’ll have this stack of leads or we’ll put them in our system. I don’t had like a drip campaign. I had people that were wanting to do something right now and people that might do something in the next three months. And then that was it. Like everybody else, I just threw it away and I found new leads because it was for me. If I could find the motivated people. I knew I could get them to do something.
Jimmy Rex [00:12:01]:
So those are a couple of the main things that I would start with. In this market, there’s so much opportunity, there’s so many things that you can use to your advantage. And if you don’t know every one of those, you need to become obsessed with knowing how to speak that language. I would write down every single advantage this market has. I would brainstorm with the other top agents, come up with every bullshit reason you can ever imagine of why this is the time to buy a home, why this is the time to sell a home, and then I would just pound those into their heads until people just had no other option than to want to do it in this time. And that’s how you get people to get off the fence. They want you to work with them. They need somebody to push them.
Jimmy Rex [00:12:40]:
They need somebody to speak with certainty, and you can only do that it’s energetic exchange, by the way. So when I said it to people, it was real. I believed it. Whether it was true or not, I believed it was true, and they felt that. They’re like, holy shit, finally somebody that thinks I can sell my house in this market, or finally somebody thinks that we can find a good deal still, and then you do, and you find them. So that’s kind of what I would say about that. I would more just open it up to q and a, any questions you guys have. But that’s my best advice, is be so certain with your words and speak with confidence and tell them what to do.
Jimmy Rex [00:13:11]:
I’ll give you a quick example of this. Humans in general. All of you guys, put the little hand thingy up of your thing. Put your hand up real quick. You know how you put the little hand emoji thing up? You guys know how to do that. Some of you guys are there you go. Right? So when people tell us to do something, we don’t even question it. We just do it.
Jimmy Rex [00:13:29]:
Like, I had a mentor one time. He’s like, hey, hand me that spoon. We were at lunch, and I grabbed the spoon, and I handed it over to him. He goes, why’d you just do that? I could have grabbed the spoon, and he goes, I don’t know. You told me to. I said, exactly. We are literally trained from the time we’re babies to do what people tell us to. And so when you tell people, people what to do, and you do it with certainty and you do it with confidence, they’ll do it.
Jimmy Rex [00:13:49]:
People want to be led. Most people don’t have enough of their own free will to just do whatever. So when you have buyers, you just tell them what to do. I’m like, dude, we’re going to buy a house this week. I’m going to find you the house. So the way that we do, I’ll give you one other thing before I open it to Q and A. This is how I sell so many houses right now. Okay.
Jimmy Rex [00:14:07]:
We do a strategy session with every one of our clients. This is what we’re doing right now with our buyers. They come in, we have 45 minutes, and we sit down and we map it out. What do you want to do over the next five years? What do you want to do over the next ten years? Let’s map out where you’re trying to go, and then we just map it out. Say, great. Based on this information, you need to buy a house in the next four months. We need to buy two by the end of the year, whatever their situation is. Right.
Jimmy Rex [00:14:29]:
And they’ll say, good news is we’re finding homes every week. As soon as I find one that matches your criteria area, I’m going to do my best to get it in the next month. It might take two or three, but as soon as I have it, I’m going to send you the pro forma, and then we’ll move on it. They don’t question anything. They’re like, great, tell me what to do. And we’re more like advisors than we are realtors. We just literally send them the house. Dude, we found you a house.
Jimmy Rex [00:14:51]:
Here it is. And I’m like, oh, sweet. Looks good. And they buy it because we’ve set it up in a way where they want to be told with you. When your accountant tells you to do something or your lawyer, you don’t question everything they’re saying. You assume they’re giving you the best information because they’ve set themselves up as the expert that’s telling you what to do. We just do the same thing. But as real estate agents, Jimmy, would.
Nazar Kalayji [00:15:13]:
You say that your confidence came first or your knowledge?
Jimmy Rex [00:15:17]:
I mean, both, right? The knowledge came from just doing it. I mean, the whole fake it till you make it is somewhat real. I never made up things. If I didn’t know the answer, then I would say, I don’t know. That’s one of the most powerful things as an agent. I would say that all the time. People ask me something, I’m like, I have no idea. I’ve never thought about that.
Jimmy Rex [00:15:33]:
Let me get back to you. But I was obsessed with learning and with getting better. And so the confidence came because time and time again, I kept working on it and I kept succeeding. I mean, I sold my first full year in real estate. I sold 98 homes with one assistant. And so I had a lot of confidence, probably too much. Market collapsed and I fell pretty quick. But my point was, my confidence was real because confidence comes if you guys are wondering how to build your confidence.
Jimmy Rex [00:16:00]:
It’s very simple. It comes from having an overwhelming amount of evidence that you do what you say you’re going to do. So you can get confidence from just making your calls every day. You can get confidence from waking up when you say you’re going to. You can get confidence. If you say you’re going to work 9 hours today and you do it, you’ll have more confidence. Every time you say you’re going to call for 3 hours today and you call for an hour and quit, you lose confidence. It’s like, I don’t set an alarm unless I got surgery on Monday.
Jimmy Rex [00:16:25]:
I had a hernia surgery. So I knew this morning I set my alarm for 08:00 a.m. That is a horrible time for a productive person to be waking up. But I didn’t want to set an alarm at seven or 630 like I normally would and then hit snooze because I’m like hurting and not ready to get up. So I set the alarm for eight. I ended up getting up at 745, but I did that because if I say I’m going to get up, I’m going to get up. And I didn’t want to set the alarm at seven and get up at 745 because I know that’s going to wreck my confidence for the day. So confidence comes from just doing what you say you’re going to do.
Jimmy Rex [00:16:55]:
It’s not from the results you get, it’s from the actions that you. Yeah.
Matt Farnham [00:17:01]:
Matt farnham here. Dude, I feel like I know you just because of rob and matt beret, and it’s a pleasure to meet you, but you guys are known for we are the day of doing extreme hard things, right? Like getting out of your comfort zone. What’s the real lesson in that and why do you do that? And what can we learn from that?
Jimmy Rex [00:17:18]:
Yeah, no, it’s a great question. It’s very much by design. So we all have this drunk monkey. This is what Tom Ferry calls it, right? It’s like our ego or our self. Its only purpose is to keep us alive, our nervous system and all the above. So it will do whatever feels safe. It’s not designed to give us a good life. It’s not designed to make us happy.
Jimmy Rex [00:17:38]:
It’s not designed to make us feel good. It’s designed to keep us alive. So anything that is a threat to being alive, it’s going to tell us not to do it. Sounds stupid, but when it’s like, pick up the phone and call all your clients and ask them to get a price reduction, your ego or your self is like, oh, that’s not safe. What if they cancel me? They don’t have any money. They won’t have any food. Then I’m going to die. Like, you play this thing through.
Jimmy Rex [00:17:59]:
So it’s messing with us all the time. So every time you take that bitch voice and you just cancel it and you go, no, I know you’re there. I feel you. And we’re going to do this anyway. Then you push through it, then it’s a muscle that you exercise and gets very easy to do. So if I can get you to jump off a cliff that’s 400ft, then all of a sudden calling your client and trying to get a price reduction isn’t going to be real hard. Or calling your buyer to tell them that you’re going to have an appraisal problem. It’s not that big of a deal.
Jimmy Rex [00:18:25]:
You can have those tough conversations. If I get you to walk across hot coals or get up in front of a room of men and can talk about shame from something you did 20 years ago, all of a sudden it’s not so difficult to talk to your son about why he needs to quit smoking weed or talk to your wife. A tough conversation about why you guys haven’t had sex in six months. These conversations are going to come freely and naturally because you’ve exercised the muscle of pushing past that uncomfortable thing that’s telling you it’s not safe to do it. And so any chance I get, like when I was in college, I had a rule. I remember one of my first days of college, I saw this beautiful girl. I didn’t talk to her and I was so mad at myself. The rest of the day, I’m just like, okay, for the rest of my college experience, if I see a cute girl, I got 3 seconds, I have to go talk to her.
Jimmy Rex [00:19:09]:
And I did it every single time, hundreds and times. And I struck out plenty of times, but I didn’t care. It was like this natural thing where I just went up and it was like my worst case scenario was if I didn’t talk, it was already a no. So I got to this point like, when I was calling for sell by owners, I would always have people come shadow me, and they’d be like, how do you get past the, like, they hate you. They’re yelling at you. And I’m like, what are you talking about? They don’t give a shit. They don’t even know who I am. I was like, watch this.
Jimmy Rex [00:19:34]:
One time, I called one, and she yelled and hung up at me. And the person shadowing me, this lady was mortified. She says, I can’t believe she hates you. I was like, she doesn’t hate me. You know who I am? I go, watch this. I called her back. I go, hey, I’m the guy that was just on the phone with you. You yelled at.
Jimmy Rex [00:19:47]:
She’s like, why are you calling me back? I go, what’s my name? She’s like, I don’t know. I was like, thanks, bye. It’s not personal. Nobody cares. Just getting used to just not taking this shit personal and just pushing through the uncomfortable thing. I don’t care. And you can do that when you exercise the muscle, when you keep doing things that make you uncomfortable, they just quit making you uncomfortable. I always say, the best salespeople, there’s, like, this line of comfortability, and the best salespeople go right past it.
Jimmy Rex [00:20:15]:
They just know how to skip over it. And every now and then, you’ll have one of these realtors in your office. I guarantee one of you guys on this call is this person. You all know who it is. You’re going to laugh when I say this, and they don’t even know there is a line. And they say the most inappropriate things you’ve ever heard, and they don’t have any self awareness, and you can’t ever get them out of your office, and they never get a damn hint when you need them to leave. But they close houses because they’re willing to go to that uncomfortable place where all the sales happen. And so that’s the reason why that’s so important in every aspect of sales and business.
Nazar Kalayji [00:20:45]:
I love how that gets so many people in the way of just having those uncomfortable conversations with people. But you’re talking about tapped, right? Like, people being socially aware of your surroundings. I’m not saying we have to be socially awkward to be able to do good at sales, but I think there is a lot of weight in what you’re saying of pushing past the uncomfortable so that you can get.
Jimmy Rex [00:21:08]:
Yeah, well, even you can do it in ways that feels comfortable. So I’ll give you guys a hint. Be honest. How many of you guys have at least half the people in your phone. You would never call and ask for a business. Be honest. It’s most agents. Okay, here’s a game that I play.
Jimmy Rex [00:21:23]:
I find a reason to call them that makes it comfortable. So I throw a client event party once per month. I’ve rent out theaters, I rent out the water park. I throw giant fireworks shows. I throw an Easter party. I throw a Halloween party because I want to have a comfortable reason to call them. So I’ll call them up and I’ll just say, hey, we’re throwing another party. It’s an Easter party.
Jimmy Rex [00:21:43]:
We’re going to have 10,000 eggs dropped out of a helicopter. Would love to have you and your kids there. It’s going to be March 23 at 09:00 a.m. At the park. If you’re interested in coming, I’ll send you some more information. Oh, thanks, Jimmy. Cool. Hey, by the way, while I’ve got you, you guys aren’t looking to move anytime soon, are you? No, we’re not.
Jimmy Rex [00:21:57]:
Awesome. Well, if you know anybody that does, would love to be your realtor. Appreciate you, man. We’ll see at the party, hopefully. Boom. Everyone can make that call. It’s the most comfortable call in the world, but you have to be willing to do it in a way that you’ll actually do it. So when I call, if I’m calling for a price reduction, I’ll say something like, by the way, this is a really good line to give.
Jimmy Rex [00:22:16]:
Start whatever question you’re uncomfortable with. With what are the chances? So I would say something like, what are the chances we can drop your house? Ten grand. That’s so comfortable to say. What are the chances we could take ten grand off to get this thing sold? What are the chances we can have a quick price reduction? Dude, what are the chances we can offer on that property today? Just say, what are the chances? It’s such a comfortable way to just be like. But you just got to learn to say things in a way where you feel comfortable to do it, and then you’ll do it. And so that’s kind of what I learned to do with real estate. I just always was willing to have any conversation I needed to, and I just found ways to do it that made it comfortable.
Nazar Kalayji [00:22:52]:
So what are some ways that we can be uncomfortable without jumping off a cliff?
Jimmy Rex [00:22:56]:
Okay, here’s one game I would play. I’d call it the phone flush. I would start with the A’s in my phone, and I would just say, today is an eleven hour prospecting day. I’d start at the first person in my phone. If I didn’t dare call them and ask them for business, I had to delete them out of my phone and I would just do the whole phone. So there’s one way to get uncomfortable. How many of you guys knock doors? Go knock doors to get uncomfortable. Right? Like, just try that for a minute.
Jimmy Rex [00:23:21]:
How many of you guys have ever called for sale by owners? Right? Like, just do that. How many of you have ever held? Here’s a huge one. Like, throw a client party. People are terrified to throw a party because what if no one shows? What if it doesn’t? You got to try and get uncomfortable. My first party I ever threw, I had like 30 people show up. Now. I just threw a party this last summer just for my real estate team. We had 14,000 people there.
Jimmy Rex [00:23:43]:
And so my point is, you’ve got to start and that first one will be uncomfortable. But by the way, don’t judge the outcome of it. Just do the act. And I always think that not doing the thing is the only failure. So if I do it and it doesn’t work, I’m like, I don’t care. I tried, but as long as you’re trying to do the thing, so throw an event. How many of you guys are throwing investor seminars? Those are gold. I would get 20 deals every time I hosted one of those.
Jimmy Rex [00:24:08]:
Just start showing people on Facebook Live. How many of you do Facebook Live? All of you guys, I guarantee. You’re afraid to do Instagram. You’re afraid to do Facebook because you’re like, what if it sucks? I’m going to give you a clue. No one cares. They just swipe to the next thing if it sucks. But you’ve got to try. You’ve got to put yourself out there and make yourself uncomfortable.
Jimmy Rex [00:24:25]:
I have stuff all the time. That is dog shit. Nobody cares about it. I don’t care. You know what it’s like? It’s not like, did you see what Jimmy put out? He’s losing it. He put out a video that wasn’t good. Nobody cares. We’re just not that important.
Jimmy Rex [00:24:37]:
But we think we are. And so just put it out there and you’ll be shocked at how much business you get. But I started teaching people on Facebook live how to invest in real estate. I would just break deals down, made it so simple that you couldn’t screw it up. And then I would throw a seminar for investors that come learn in person, and I would get 20 deals every time. And just knew people that they saw me as the expert. I was teaching them how to invest in real estate, and then from there, it was easy to convert them.
Nazar Kalayji [00:25:05]:
Love it.
Matt Farnham [00:25:06]:
Jamie, I got another question. Hey, you network and interview and hang out with a whole lot of incredible leaders. What’s a real common themes that maybe aren’t, that are under the waterline, right? Because everybody, oh, I get up at 05:00 a.m.. I have a good morning routine. What else would you say is unique?
Jimmy Rex [00:25:23]:
Yeah, I just did an interview with Ed Milette. We talked about this on my podcast, and he said, here’s the secret. We’re all idiots all the way to the top. The guys that are doing it are winging it. None of us know what we’re doing. It’s honest truth. There’s just the people that you see that are having a lot of traction online or that are on stages and all these things, they just are willing to take action, not needing it to work, they’re willing to take the action. That’s the thing that all the successful people have in common, is they’re willing to take action.
Jimmy Rex [00:25:50]:
They just move. They do it, and they don’t need it to work necessarily. And that’s one of them. And then the second thing, this is all successful people have one thing in common. You guys, they’re just consistent. You guys will start a podcast and you don’t sell 50 homes from it in the first six months and you quit. It’s like I’m 570 episodes in now. I can get anyone I want on my podcast.
Jimmy Rex [00:26:12]:
But when you’re starting out, just do the consistent thing. When I first started calling for sale by owners, one out of 70 would give me an appointment. It took me three days of calling those bastards before I could get one to let me come over. By the time I quit calling for sale by owners, one out of twelve, like, I could get two to three appointments every day doing it. And so you just get good by being consistent. Like, it’s consistency over time. Mike Ferry used to say you’ve got to fall in love with the monotonous routine. And he said, the difference between successful agents and unsuccessful agents is the successful agents have merely learned to do the things the unsuccessful agents don’t want to do.
Jimmy Rex [00:26:48]:
But it’s doing it every day. You can’t post on Facebook every four days and expect something to happen. Like, if you commit for two years straight that you’re going to post something every single day, you’re going to do a blog every single day. You’re going to make a video on Instagram every single day. After a couple of years, you will start getting some action, but nothing’s going to happen quickly because you’re going to suck until you don’t. But you got to be willing to suck to finish that quote that you said.
Nazar Kalayji [00:27:12]:
Most people are not willing to do the things that the successful people are, and therefore they will never have what the successful people have.
Jimmy Rex [00:27:19]:
Yeah, I’ve started saying, look, guys, excellence ain’t for everybody. It’s honestly not. It’s hard to be excellent. If you want to be a great realtor and you want to be a killer, it takes some massive action. Most of you just aren’t going to be willing to do it. You just won’t be. But if you are, don’t expect extraordinary results when your work ethic is average at best. And so it’s just you’ve got to be willing to really put yourself out there and do the thing at a high level to get high results.
Jimmy Rex [00:27:45]:
And if not, that’s okay. Just don’t expect to be extraordinary.
Nazar Kalayji [00:27:49]:
The crazy thing, Jimmy, is that we’re all placed on this planet to be extraordinary. And it’s just those that choose to do it or not.
Jimmy Rex [00:27:57]:
We all have the call just whether we answer it or not. That is correct.
Nazar Kalayji [00:28:00]:
Absolutely. Anyone else have any questions for Mr. Rex here? Everyone’s shy.
Jimmy Rex [00:28:07]:
No worries. I speak and I am kind of direct, so hopefully this message got through today. By the way, if you guys ever have questions, reach out to my instagram is Mr. Jimmy Rex. If you guys are friends of Matt’s and know I’m happy to help any way, honestly, this is an opportunity, and you got to see it’s. Everything’s going to be the way that you look at it. And so if you think you’re going to crush it in this market, you’ll crush it in this market. If you think there’s no business, there’s plenty of evidence in this world for as much bad as you want to find or as much good as you want to find.
Jimmy Rex [00:28:38]:
Depends on what you’re looking for.
Nazar Kalayji [00:28:39]:
Absolutely. If you were to give one piece of advice to the agents here looking into 2024, obviously the rates have come.
Jimmy Rex [00:28:48]:
Down a little bit.
Nazar Kalayji [00:28:49]:
They’ve kind of fluctuated. But at the end of the day, what advice would you give them? For them to be able to increase their confidence and then be able to just speak more authoritatively or with more authority versus just kind of wishy washy? A lot of wishy washy words like maybe kind of, possibly.
Jimmy Rex [00:29:09]:
I don’t even look at the rates, honestly, because they don’t matter. You’re focusing on the wrong thing. All I would do is focus on the actions you’re taking every day. What is your action plan, and did you execute it? And I can promise you, if you just show up and do the things you know you’re supposed to do, money will be there, the deals will be there. You don’t have to worry about it. But we focus on what’s coming out of the funnel at the bottom, the results focus on what’s going in, what are you doing every single day, and if you can keep your focus on just what you’re doing and just keep doing it. By the way, nothing is more fun. I loved eight, nine, and ten.
Jimmy Rex [00:29:44]:
They were so hard. Impossible years. I had 187 for sale by owner. Listings in one year. Sold like, ten of them. The market was just horseshit. But I have so much love for those times, because when you’re working that hard, you go home and feel good no matter what. Even if you’re poor, even if you’re broke, you still feel good because you know that you put in an honest day’s work.
Jimmy Rex [00:30:03]:
And so that confidence just builds and builds. The next thing you know, it’s like a hockey stick, and the thing just, like, takes off. But focusing on your actions, not on the results. That’s what I would say.
Nazar Kalayji [00:30:13]:
Awesome advice.
Robert Mack [00:30:14]:
Awesome, man. Thank you, Jimmy.
Jimmy Rex [00:30:16]:
Thanks for having me, guys. Reach out anytime. Bye, everybody.
Robert Mack [00:30:20]:
Thanks, Jimmy.
Matt Farnham [00:30:22]:
How do you wind up this one, Rob? Who else do you know?
Robert Mack [00:30:25]:
We actually have bill pipes coming up, too. That one’s going to be exhilarating as well. But you know what, man? There’s a lot of people out there, and everyone’s got an amazing message, so we’re going to have to keep going.
Matt Farnham [00:30:36]:
Hey, can I ask one more question to Matt and Rob both? So, you guys coach with Jimmy for a couple of years. What’s under the like? What have you learned that wasn’t just shared?
Matt Barre [00:30:48]:
I can answer that real quick. Rob, while you’re thinking about it, Jimmy’s level of discipline and self belief in himself is unwavering. Like, that guy bets down hard on himself. The we are the day program that he started several years ago, he betted on himself he’s going to take time out of his real estate production, out of his real estate business, to start something which has never been done before. But he truly, truly believed himself that he needed to do, and he doubled down hard. And here we are, two and a half years later, 500 plus members changed the lives of every guy that’s in the group. He betted on himself hard, and he went all in. He is extremely disciplined, he’s extremely motivated, and he is a phenomenal connector.
Matt Barre [00:31:35]:
He takes time to know and learn everybody that he connects with. What’s your superpower? And then, if you need to know that person, he just connects you. And that’s one of the beautiful things about him. He does it so unwavering, just like Tom Ferry. If you need to know somebody, Tom will connect you. So, for Jimmy, it is 100% discipline, 100% backing himself in everything he does, and then just being a person that you want to know and connect. I think, rob, I’m sure you can add some more to that, but I see those as his true three of the true biggest values.
Robert Mack [00:32:07]:
Yeah. And I’m going to say this, and we’ve all heard it, and I don’t want it to sound cliche, but he’s the master executor. You know what I mean? We all have insanely great ideas, and when he has an idea, he goes with it. And the thing I loved about what he said today was, I don’t look at it as a failure if I fail, I look at it as a failure if I don’t do it. So he’s like, if I decide to do something and I do it, and it’s a total flop. Well, that’s not a failure. That’s a learning lesson. And I can take what I learned, and I can pivot, and I can do it better next time.
Robert Mack [00:32:39]:
But the failure is when you don’t do something. So I’ll give you a perfect example. So I work with a company called Viral Marketing, and I have been working with them for ten years, and they have created a massive amount of consistency around my newsletter. Well, the last year or so, I’ve been thinking about bringing that in house, because I have all the pieces of the puzle to make it, but I was just very comfortable with them doing it. And the last month or two, they’ve been sort of not on their game. And so today, I was assigned to yet another rep. In the last six weeks, they’ve moved me two times, and every time they do that, it disrupts my business. And so finally, I said, you know what? Screw this.
Robert Mack [00:33:16]:
I’m going to bring it in house. And then I told my assistant, my ops manager, Christy, I go, hey, I’m sure we’re going to have a bump in the road as we bring this in house. And I know that we send this newsletter out every two weeks. If we miss a couple weeks and we send it out in April, I’m okay with it. And I’m like, you know, actually, I’m not okay with it. I want the next newsletter to go out on Friday. Like, we’re going to get together on Monday, we’re going to figure out what we have to do, and then we’re going to send it out on Friday. And I don’t care if it doesn’t have a video, it’s going to be a newsletter because we’re going to keep the cadence till we figure out how to put video in there.
Robert Mack [00:33:48]:
So it’s like, you make a decision, take action. And I think Jimmy does. He’ll have these crazy ideas, and then once he has that crazy idea, he’s calling everybody he knows to figure out who can help him get there. That’s another thing, is that we like to do things on our own, and Jimmy knows who can help him, and he’s going to latch on to people that are going to help him get what he wants because he knows with his idea and his drive, with the right person that’s willing to support him, he’ll get whatever he wants. And a lot of us have this ego where it’s like, well, I don’t want to bother with so and so. And I’m going to ask for help. And he’s like, I’m out. So that’s the biggest things I’ve learned from him as this drunk monkey in.
Nazar Kalayji [00:34:28]:
Their head that says, oh, I can’t do that. And has all kinds of why they can’t even just myself, right? I’m like, oh, but Jimmy is. And then all the fill in the blanks of why he has been able to and why I can’t. And then I sit here to think to myself, like, the only person that’s stopping me from accomplishing whatever I want to accomplish is the person that’s currently occupying my seat. And so we have to be the people that say, screw that. Forget everything else. If I really want something, then I’m going to do whatever it takes to get it. If I don’t, then it doesn’t matter.
Nazar Kalayji [00:35:01]:
It’s not going to happen, right? Nothing good happens by default. It’s a plan with a truly accomplished whatever that is. There’s a lot of people that will say, oh, I’m going to do these things. I was talking to my friend. He wants to lose weight. That’s awesome. You want to lose weight, but unless you’re full on going to stop putting food in your mouth. It doesn’t matter how much exercise or whatever else you do, you’re not going to lose weight.
Nazar Kalayji [00:35:25]:
But there’s a big difference between wanting to lose weight and actually losing weight. There’s a difference between having a six pack and not having six pack is entirely up to you. Right? Like, no one can take that away from you. Only you can. And so I love his message. And about the confidence, you guys, the fake it till you make it in the very beginning, I don’t want you to make up stories or make up stuff that’s not true.
Jimmy Rex [00:35:48]:
Right?
Nazar Kalayji [00:35:48]:
Like, don’t talk about the market. That is not. But it doesn’t take much for us as agents to spend a little bit of time every single day understanding the marketplace that we serve and therefore, then speak with confidence with that data, right? Someone says, oh, well, no homes are selling. That’s interesting. Did you know that in our marketplace last month, x amount of homes sold and not just a ROUgH idea, there’s 285 homes that sold last month. And the average was this. And the average days on market was this. Knowing the stats helps us feel very confident when we speak.
Nazar Kalayji [00:36:18]:
When you don’t know that data, when someone says, oh, well, my neighbor just sold this house and you don’t know what neighbor he’s talking about and what it sold for, then you lack confidence and therefore you’re not needed. But if we have confidence, it doesn’t take much to be able to build our confidence in being able to know what to say in the real estate. So anyway, I know we’re over time, but I appreciate you guys being on here. Hopefully you guys found value in Rex’s message. I think it’s worthwhile to re listen to it either in the podcast forum or when it’s on YouTube. Either way, I appreciate all of you guys making an effort to be here on a consistent basis. I think it is even us as team leaders are on, like, I take away things from it because I know that there’s always stuff I need to do. One of the things I wrote down is investor seminar.
Nazar Kalayji [00:37:03]:
Why have I ever, never done one before? Especially with doctors. That was kind of my thought process. I’m like, there’s a lot of doctors that are super smart, very successful, make a lot of money, are dumb as nails when it comes to knowing how to write. And so I can provide that for them and help them create a better nest egg for themselves aside from just whatever they have in retirement. So anyway, those are just my two sense. All right, guys, have an awesome Thursday. Have a great weekend, and we’ll talk to you guys next week.
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