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Beatty: [00:00:01.59] Ok, so welcome, everyone. This is Beatty Carmichael again, back with Get Sellers Calling You podcast and I’m excited today to visit with Derek Tye from I want to call them from near WKRP in Cincinnati, near Cincinnati, Ohio, Derek is a real top producer and real estate. I think we were just talking he did like one hundred and one transactions last year. And but he’s there’s an impeccable character about Derek that I was really excited when I was talking with him. We’ve worked together in the past years back and he has a website. I just want to kind of push it out real quickly and then we’ll talk about this as we go along this call. I believe I’m correct, Derek. It’s KingdomRealEstateAgents com.
Derek: [00:00:52.71] Correct. That’s it.
Beatty: [00:00:53.73] Yeah. So Kingdome real estate agents, dot com. And for those of you who know me and know my passion for Christ and to really talk and teach about him as well, you can kind of get an idea of how this conversation might start going with that website. Kingdome real estate agents, dot com. So, Derek, how are you doing?
Derek: [00:01:14.16] I’m doing awesome. Thanks so much for having me on your show.
Beatty: [00:01:16.77] Well, I’m excited to have you here and to learn and learn a lot of great things on business and business as it relates to following the law. I just real quick reminder for everyone, this is an Internet based call, so please pardon any type of Internet type interruptions that they use to occur. But just getting started, Derek, tell us a little bit about yourself and your real estate career.
Derek: [00:01:39.75] So, yeah, so I started back in 2004, so I’ve seen a couple cycles
Speaker3: [00:01:44.58] Of the real estate market now. I started as a part time agent. I was working as a commercial loan officer actually at the time for a major bank fortune. One hundred bank. And I was sitting across the table once with a real estate agent who we were doing a million dollar transaction. I was the loan officer and we put a million dollar deal together. I got a three hundred and fifty dollar bonus that day. This guy walks away with a check for 30 grand. And that’s about what my annual salary was at the time. And I thought, you know what? I’m sitting on the wrong side of the table here. So I went got my real estate license. Long, long story. Later, we sold about fourteen hundred homes now on our team and just having a lot of fun. We’ve we we’ve been working kind of the general like the east side of Cincinnati. We’ve got some neighborhoods in the areas that we kind of like to do business in and work in. But overall we’ve had our average sale price keeps going up every year. The number of client touches we’re doing is going up every year. Our relationships are going deeper. The people that we’ve been able to influence has is broadened here in Cincinnati. And the life has led me to a beautiful family of five children. And I have a beautiful wife that I love very much, that I still do a date night with her almost every single week and take her out of town four times a year, just the two of us. So real estate’s enabled me to have a really cool career. I own multiple rental properties, which we can talk about that. And I’ve been able to write two books, so I’ve had a lot of fun and enjoy the real estate business a lot.
Beatty: [00:03:20.88] So I want to ask, what do you do with all your free time? But I’m not sure how much free time you actually have.
Derek: [00:03:27.87] Yeah, I mean, it’s funny. God, I just I always say that God provides
Speaker3: [00:03:33.24] An exponential return on my time investment. So, you know, I pray every day that I that God blesses our efforts and abilities and time. And there’s a book by Dan McComb called Time Bending, if you’ve never seen Dan before, is a great leader, speaker, teacher, coach, pastor, musician. But he’s got he does more than about anybody I’ve ever seen. And he wrote, I think, twenty books already. And I think he’s in his fifties, but he’s basically one of the guys I get inspired by that he always finds time for everything important in his life. And surprisingly enough, I actually like twiddling my thumbs last night. What can I do with my time? It’s like Guy just kind of makes my time count when I’m on, I’m on and when I’m off of my mouth, you know,
Beatty: [00:04:21.48] I love it. Well, for those who are not watching the video portion of this, I’m looking in Derek’s background on his video feed. And I see all kinds of charts and graphs and everything else. Give me just a little quick background on what’s behind you.
Speaker3: [00:04:37.41] Yeah, so
Derek: [00:04:38.69] So when so I’m in a real estate office that
Speaker3: [00:04:41.01] We have about one hundred and ten agents here, and I’m one of the investors
Derek: [00:04:44.76] Of the franchise of a Keller
Speaker3: [00:04:46.98] Williams office. And people do what they call the power walk. And when a new agent’s considering joining our office, they walk them around the circle and they get to meet all the agents that have permanent offices like I do. And I try to stop people and just say. I want to I want you to see what it’s like to work here, and I show them my wall back here and I call it my inspiration wall. And these are handwritten notes. I’ve received little testimonials. I’ve got like a chart on here of like if I’m going through a specific issue in my life, like I’m not enough or I don’t have enough money, it says, here’s what the world would say about that. Here’s what God says about that little reminders on my wall to stay courage. I got a little note from my daughter saying I’m the best dad ever notes from my wife’s and I’m the best husband ever, just. And I get kind of teary, but, you know, and I have a stand up desk back there. So when I’m doing some prospecting, either I can sit down here at my at my computer and type away or I can go stand up there. I do my affirmations every morning. I read out loud my prayers and affirmations. And that’s the one wall that you can see the other wall over here on to your right, maybe to my left is actually my four one one, which is basically kind of your priorities on a yearly basis, monthly basis and then a weekly basis. And I’ve broken those down on my wall behind me to my goals annually for my personal life, for my relationships, for my rental property business, for my mai tai group team that were running and for the books that I’m writing and speaking coaching on. So I’ve got these different categories in my life and I’ve broken down. So every morning I review that. So that’s you’re literally seeing what I’m seeing every day. And I it’s a dry erase board so I can race and replace and kind of keep myself in a real focused manner every day.
Beatty: [00:06:39.36] You know, that’s just really amazing. As you’re talking, the only thing that really goes keeps going through my mind is the reason for Derek’s success. I mean, you’ve got it laid out. You’re driving it, you know what you’re doing. And that’s really cool. I love it.
Derek: [00:06:54.54] Thank you. I appreciate it. And that’s what I try to do, is inspire other people. I’m just like, listen, there’s nothing
Speaker3: [00:06:59.10] Special about me being like an amazing professional. I’m just following a plan. I one of the things you may be able to see back in here is the original Disney map. So Disney did a mind map back in nineteen fifties, Walt Disney, he said, I’m going to do productions and studios and comic books and music and TV and radio and Disney on Ice and an amusement park. And people are like, you’re crazy, man. You’re just drawing cartoons. That was his vision. So if you look at his organization today, he’s been dead for thirty years. It is insanely similar to what he forecasted. He was way ahead of his time like 60, 70 years ago. We put that map together. So I actually put my own Disney map together years ago and I said, OK, what would my life look like in ten years? Fifteen years? And so I put my real estate business at the center and I said, OK, I can churn some cash, some some cash. Cow is a real estate. People need to realize that it’s it’s just one mechanism to earn money. But then what am I going to do with that money? Well, I can buy rental property. So I’ve literally outlined OK, I want five rental properties and then I put on another side I want to write a book. So I put that on there and then I want to start a coaching business. Started that on there. So basically I built this vision five years ago and then over the last five years, every year I draw a new map and I make it bigger because I want to think even bigger each year, like, OK, God, I accomplish that now what’s next? And so when I walk people into my office, if they’re thinking about being part of our organization, I’m like, look at all the growth that’s going to happen over the next five to ten years.
Speaker3: [00:08:32.10] Would you like to be a part of that? And people are like, oh my gosh, they want to see someone with a big vision ahead of them, not just some guy that’s in here selling a few houses a year. They want I want I want them to see that there’s people thinking much bigger than that. And then they can go and recreate their own Disney map in their own world. What’s important to them is we’ve all been given a unique vision from God. And so we have to do something about it. We can’t just think, oh, that would be great someday if I did this thing. It’s like, put it in writing, put it on your wall, look at it every day, show it to other people, stay accountable, get other people to rally around you. And the number one, the number one question entrepreneurs should ask that they don’t ask when most people have a big vision or dream or a life goal. The first question an entrepreneur normally ask is, how am I going to do this or or what am I going to do to get there? Or some question about that. The correct question is, who do I need to be talking to that can help me get this done? Who should I hire to bring into my life to do this? Who can I delegate something to to get me one step closer to that? It’s always a who question, not a whole question.
Beatty: [00:09:36.69] You know, this is really fascinating, I’m really tempted, I’m about to pull out of the conversation for just a moment to say, Derek, just take it away. We’ve got a lot of realtors on the online there are listening to this who want to grow their business. Many of them want to grow and honor the Lord. Many just want to grow. And and it looks like that you’ve got a you’ve got a plan of what you’re doing. You’re following your plan and you’re growing with it. So I’d like to ask you so put yourself in the mindset of the typical real estate agent out there and just start going to town with us and tell us what what are the key things that you’ve learned in your business besides what you’re telling, maybe even go a little bit deeper. But what are the key things to grow this business, to be consistent and and then to have balance in your life and help start dissecting that for us?
Derek: [00:10:31.92] Yeah. So I think I think there’s a myth out there that the
Speaker3: [00:10:35.76] Successful, quote unquote, whatever you want to consider successful. Let’s say that realtors make one hundred thousand dollars a year more. Most people would consider them the successful group. Right. The myth is they have to work 80 hours a week. They have to sell their soul. They get to buy Zillow leads constantly. There’s kind of these kind of predispositions on those people where they have the inherited a business from mom or dad. Is all these kind of like, you know, if they got successful, they had to do one of these things will back. The first year I started in real estate, I realized, man, this is a really time intensive business that can eat you up 80 hours a week. You could be evenings, weekends, holidays, you know, missing all the games, missing all the stuff with my kids. And so I set a pretty much a standard about a year into the business after I kind of started learning how the business really worked and leaving my full time job, starting a full time and a real estate as an entrepreneur. Or I had to put certain time boundaries out there, so just like you put a boundary in your marriage and your faith and all these kind of boundaries you have to set in your life to set some time boundaries. So my goal was I came from the banking industry and before that, corporate America. You worked nine to five, right? It was eight to five, nine to five. And I said, well, what can I do this with real estate? Well, everyone told me that’s impossible. You’ll never be successful, quote unquote, if you do that.
Speaker3: [00:11:50.62] And I said, well, first of all, I’m going to define what I think successful, not what the world thinks successful. The secondly, the reasons why most people cannot keep a schedule that’s regular as they haven’t learned a few levers. Right. So ironically, I just wrote a book, just finished it called The Seven Levers of Real Estate. But and that book should be out by the time this podcast goes live. But if you don’t mind, I can kind of actually step you through some very specific levers that I think real estate agents need. So the first one is leverage of people. So we talked about that earlier. The WHO question. So you need as soon as you start doing some real estate transactions in your life, you you really need to once you get to maybe 20 to 30 a year, which if you’re doing this full time and you’re in your work, in your database and you’re working the calls and you’re actually actively working productively 40 hours a week, you’re going to get to the point where you’re going to kind of pick out or cap out at about twenty five, thirty five deals a year depending on your market. And you’re going to hit this ceiling of achievement. And I don’t care how hard you work, how much you want to grow, how much you want to spend on leads, you’re going to hit this. And there’s probably exceptions to this. There’s people out there go, I’ve sold 50 or whatever I’ve been doing in 16 years. I’m talking about consistent. Whatever I say in here is going to be about consistency, something you can replicate month after month, year after year and like you just said, have a balance.
Speaker3: [00:13:12.58] So my parameter, I said, is I wanted to work approximately eight o’clock in the morning till approximately five o’clock, five days a week. So the only way to do that was all the buyers that wanted to go out and show homes that they wanted to see. Homes usually had the opposite schedule, right. It’s people that work the eight to five jobs. And then when they get off work, guess what they want to do, go see houses. Well, guess what I like to do between five and nine p.m., see my wife, go home to my family, go to the soccer games, be a coach on the basketball team, go to a Wednesday night service at church. You can’t do that or volunteer for VBS. You can’t do those things in the evenings and weekends if you have buyers that are constantly want you to see property. So I had make a decision. Either I get out of the real estate business, which wasn’t an option. I wanted to do this. It was an option. I just choose not to do that option. Or B, I start learning to work with A there’s two things that happen. One is I learned to work with settlers instead of buyers because sellers are much more they’re less time demanding, especially evenings and weekends. You might have one meeting with a seller at six o’clock on a Tuesday just to get the listing sign. But in general, most of the work you’re going to be doing for the seller is going to be during your eight to five job.
Speaker3: [00:14:26.86] Right. The second thing I learned to do is all the buyer leads I was generating because I was lead generating, which is a big thing you have to do in real estate. Right, is I was I found other people in my office to basically sell the leads to say, hey, would you split this with me? I came up with a lead. This guy wants to go see a house tomorrow at four o’clock to three hundred thousand, our home down the street. Would you show it to him? They’re raising their hand. Yes. Yes. I found agents in my office that became my team being in two thousand four. There weren’t a lot of teams out there. Right. So we kind of formed this unofficial team. And then when this Keller Williams office came to town, they kind of specialized in the team concept back in twenty five. Twenty six. And Cincinnati was a brand new idea that, oh my gosh, you could have a team and be part of a brokerage. So make a long story short, I learned the listing leverage of getting listings that I could work, the kind of business I wanted, and I learned the people leverage by selling the lead so that the buyer’s agents who in their case, they didn’t care to work five to nine and on the evenings and weekends. So we had a partnership. So the first big lever again is people you’ve got to partner up with, people both in the administrative side and then potentially as a buyer’s agent to get your time leverage back.
Beatty: [00:15:42.44] I love this, you know, the I remember, I forget who said it, but if you have a lever and fulcrum, you can lift the world. And I love this whole concept of Leber’s because it’s it really is. You know, what I’m getting out of this is is several things, because I think we if you look at everyone who’s been successful in real estate or business or anything else, it’s always they have a clear vision of where they want to go. They put at the boundaries that says, I’m not going to go outside of these boundaries. I have to fit it within these parameters. And then they go at it with a tenacity. And what I’m hearing from you is, is I love the boundaries that you put in. I don’t if you know a friend of mine named Stuart Sutton, he’s a agent down in Texas, but similar to you, but different. When I met him, he was doing a hundred and twenty transactions a year, but he’d set up these boundaries. So he worked an average of thirty five hours a week. It was Monday through Friday, I mean, Monday through Thursday, rarely worked evenings. He never worked weekends. And he chose if I want to be in business, these are the hours I’m going to do it just like you and I love and well.
Derek: [00:16:54.92] And I think too. And I like to read the old Hebrew kind of wisdom and knowledge as well.
Speaker3: [00:17:01.43] Not so. I am a Christian, but I also like to to learn a lot about ancient Hebrew, both the spoken and the written traditions. And there’s a an author I love. His name is Daniel Lipan and he wrote two books that I know he may have written many more, but two that I’ve written have been excellent references to me, and one of them is called Thou Shall Prosper, and another one is called Business Secrets from the Bible. And in the book, he talks about the ancient Jewish traditions, about work. And there’s all kinds of things that we do in the Western world that don’t line up. And we think, well, we got it all figured out over here in the West. And when you go back to these principles that are five thousand years old, six thousand years old, you scratch your head, you’re like, oh my gosh, that works. And it’s really old. And these guys had figured it out a long time ago. I mean, Sabbath is one of them, right? So he talks about how his dad growing up, this guy rushes into the synagogue and says, hey, mister, we’ve got this great business deal, but you have to make a decision today or else this mega million dollar opportunity is going to go away that day and said, you know what, I don’t do business on the Sabbath. This is my time of rest and God will reward that. And this guy said, listen, I’m telling you right now, this is a real legit opportunity.
Speaker3: [00:18:21.89] It’s a real deadline and it’s going to happen right now. And if you don’t do it before sunset, the deal is gone. And he said, I guess I’m just gonna have to let it go then. So it turns out that this deal goes south and all the investors lose all this money. And this guy basically comes back to his dad and he’s like, hey, I guess God protected you because that’s what happens, right? So he set these time parameters and said, this is something I’m not going to do. He also talks about working six days a week versus seven days a week. So in the Western tradition, we do think about weekends. Is this holy ground where, OK, the ideal would be I only work five days a week and then two days are off in this this book challenge me because I thought, well, yeah, that’s the way I think that should go. I should only work five days a week. But no, in the Bible does it say they only work five days a week. It says to work six days a week. So then I said, OK, I’m on to something here. So what do I do on the sixth day? So if I’m supposed to be working my job five days a week and the seventh day is the Sabbath, then Beatty, let me ask you, what are you supposed to do on the sixth day? I’ll give you my answer. I’m just curious what your perspective is.
Beatty: [00:19:24.23] Well, my perspective is that that six day is a time to get out of town and have fun and enjoy some things. But but I can see as you’re talking, my wheels are turning because I actually teach about six days, work six days and take the Sabbath off the. But the thing that hits me is all these other things that you do, that’s probably where you you apply the six day on that.
Derek: [00:19:50.45] Yeah. So that’s a great it’s a great thing. So what I realized is, is I was actually working six days a week, but I was only working five days on my real
Speaker3: [00:19:57.50] Estate sales team. So this was a big AHA is in the books I read and I could be misinterpreting theology. I’m not a pastor, professor or anything, but my understanding after reading these two books and after, you know, I’ve read the Bible cover to cover five or six times and it’s not not to brag about that, but that’s just I’m trying to absorb it constantly. I reread it and reread it because something new comes to me every time I read it. But my understanding is, is that we are supposed to work six days a week and there is no retirement. By the way, that’s a whole nother principle. But so the six days a week. So on that sixth day, I’ve got my rental properties, I’ve got my projects around the house to help my wife with. I’ve got I’d like to do we have a farm. Right? So I live in the middle of a town, but. I have, like one of the last farms left in the town, so I’m surrounded by homes and apartments and all kinds of stuff, and we have this farm right in the middle of town.
Speaker3: [00:20:49.50] But I want to do work on my farm. I’m always doing some kind of project out there. And what it is to me is like that’s the day that sixth day for me is I’ve learned to build my other businesses, write my books, do the other kinds of business building things that don’t fit into the other parameters. So I do believe that we are meant to be active and working and hustling and doing whatever we got to do six days a week. But I do believe that we really should find doesn’t have to be a Sunday, whatever your day is. But there should be a day of of what the Jewish tradition says is you’re not supposed to be working in a productive way toward a living or like some kind of like a, you know, a prophet. So if you’re Jesus even said if your ex falls in a hole, you’re going to pull it out. So it’s not like you’re forbidden to do any work. It’s just you kind of have to think about how what the purposes of the work you’re doing on that seventh day.
Beatty: [00:21:46.17] You know, I’d love to talk on that because this is actually a passion of mine. And I’ve been recently doing some study on it. So the Sabbath. OK, so here’s kind of the background with that, Derek. As you know, God created the world, the heavens and the Earth in six days and he rested on the seventh. So God says the seventh day is holy holy means to be set apart for the Lord. And that’s how the Jewish tradition, which is actually a directive from the Lord as you treat my holy day as holy and the and Sabbath, the Hebrew word for Sabbath actually means a full rest. And it’s just what you’re talking about. It’s ceasing rest, ceasing work and resting from your basically your occupational stuff, anything that you have to do. OK, and over where we are in the West, people a lot of times use the weekend as catch up and Sundays are good day to catch up on all kinds of stuff. So they catch up on shopping, catch up on yard work and doing housework and things. But what the Lord really says is honor me first. And I have declared the seventh day to be holy, so treated as holy, don’t treat it as common. And and and it’s really special, really unique. I can’t tell you how many people I’ve spoken to just, you know, just believers who will honor the Sabbath and as part of their normal life in serving and honoring the Lord and the Lord just seems to constantly bless everything they do. Doesn’t mean that life is without challenges, but life is blessed. Does that make sense?
Derek: [00:23:24.96] Oh, totally. And I love that perspective. So it’s always and this is something I want to always be coachable teachable. I want to be like soft
Speaker3: [00:23:32.04] Clay, where if someone gives me something and it’s from God, I want to be able to chip that off or move it or I want to constantly be in a learning state. So I appreciate your perspective on that. And that’ll go into my future theology of how I process my day on Sunday.
Beatty: [00:23:47.19] Well, I love that. I want to make a comment because this this came up OK, as you were talking about the the Jewish man who was offered this great big deal, but he had to make a decision on the Sabbath. Do you know? So if we go back to Old Testament times, by the way, God is the same yesterday, today and forever. So what he considered holy back in the Old Testament times he considers holy today, holiness doesn’t change. And when he was teaching people about the Sabbath, here’s what he would say. He said, you know, the Sabbath is is holy to me. And whether it’s harvest, whether it’s planting time or harvest time, you need to keep the Sabbath holy. And here’s here’s how it relates kind of into our our Western world thinking planting time because they’re an agrarian society. There’s only a short period, a short window of time that you can actually plant and get things going so that you can have a harvest. And God is saying during that very short period of time, the most important thing is to honor first. And harvest time is the same thing, there’s only a short window where you can harvest it if you don’t if you’re not careful, the rains come and everything rots, he said. Even during harvest time, enemy first. And when you honor him first and those most important times where you feel, I’ve got to get more time, I really need to work even harder. God says, honor me. And if you honor me, I can take care of you.
Derek: [00:25:21.50] I agree with and I mean is those of us that are real estate agents out there, I kind of feel like the planting the seed time is when we’re doing prospecting
Speaker3: [00:25:30.56] Generation, open houses, those kinds of things. And then the harvest is going to be when someone calls and says, I want to see a house right now. Yes, I need you to write an offer. So and both of those perspectives, I mean, I’ve got a friend here in our office that’s a devout Jewish, traditional Jew, and he is very, you know, honors the Sabbath and his his Friday night sunset to Saturday night at sunset. But he’s had opportunities that he’s had to say no to, that people say, I got to see a house tomorrow at three. I need you to show it to him. And he says, I’ll be available at 7:00 p.m. on Saturday, or he gives them options that are not within that window. And he said that God always works out the deals. They always seem to just work out in this way. So I feel like it’s a good confirmation of what you were just saying.
Beatty: [00:26:20.03] You know, I just a actually just came out on podcast’s. I did a little while back with an agent in Arizona and his name is Peter five. And so he takes the Sabbath Sunday. So Sunday is the Christian Sabbath. He takes that off and he will not work. And he’s teaching one of coaching one of the agents in the office. And she couldn’t understand how he could afford to do that. He said, well, you know, if I’m working with someone and they don’t respect me enough to respect my parameters, I will not work on Sunday said I don’t want them as a client. And and after she would take clients who would force her to work on the times that she didn’t want to, she started realizing, you know, his way is better because you get really good clients for what he’s done, kind of sort of like what you mentioned, but maybe a little bit more formal is there is another man there in the office that doesn’t work Saturdays and Peter doesn’t work Sundays. So they just had this ongoing partnership. Anything that needs to be seen, shown or or handled on a Saturday, Peter handles for him and he handles everything on the Sunday. So they get to work in partnership that way.
Derek: [00:27:31.28] I think that’s awesome. And actually, there’s even so, there’s a lot of real estate agents out
Speaker3: [00:27:36.74] There that might be going there. Give me something practical that I can use right now. Well, here’s something practical. It’s all about scripts, right? So, number one, you’ve got to be an amazing, excellent real estate agent who provides tremendous value those other six days. You’re never going to earn the right to take off at 70 because someone’s going to go, you know, Derek, I need you. I need you. I need it. Well, if you’re providing amazing value to that person, they’re going to be willing to wait. They’re going to be willing to to to readjust. I’ll give you an example. So I’m very fortunate in my career. I’m getting all these repeat clients. I got one literally buzzing my phone. Right. The second that wants to get a hold of me. But I’m going to set aside that right now. Right. But but what happens is, is I’m getting these repeat clients now. And if they say to me they’re, you know, my mom needs to sell her house like this text I got right before we jumped on this call together. And she needs you to come out and take a look at it. So I’m saying, OK, here are my times. I’m available. And I said the times that I’m available to them, I say Tuesday at 2:00, Wednesday at 3:00, Thursday at 4:00 or Friday at nine a.m.
Speaker3: [00:28:39.53] and they go, sorry, we need to meet you at 7:00 p.m. on Friday. Well, I’ve got plans with my family at 7:00 p.m. on Friday. So this becomes a scripting exercise. And if those of you guys are not using scripts, I would highly recommend you get with Beatty or whoever you recommend for for learning scripts. But scripts are really important. A script is just basically kind of like a something that you can just pop off the top of your head that you’ve already memorized in the past. So what I would say is it sounds like to me that you want a time that I’m not available to work. So I have a couple of different options for you. No. One, maybe you could take off a lunch break or come in early or stay late from your job. Is that an option? No. OK, so it sounds like we might be option two. I have an associate in my office that would be more than happy to meet you at seven pm on Friday. I would still be involved with the transaction, but I personally cannot be involved at that specific time. Will that work for you? No, we want to work with you then. Option three is I guess we’re going to have to reschedule for a future week. Tell me when you can fit within nine to five, Monday to Friday next week.
Speaker3: [00:29:43.16] So it’s. I’m never telling them. No, I’m telling them. I’m telling them. Here’s your options. And the options are always if you want to work with me, which I’ve. Earned the right at that point to say that, let me give you an example, too, if you if you got sued or something happened in your life and you wanted the top attorney in town to work on your case, you call up that attorney’s office. First of all, you’re not talking to the attorney. You’re talking to some assistant right. And they’re going to say Mr. Johnson is available Thursday at 3:00. What are you going to do? You’re going to drop everything you’ve got to do in your life and you’re going to go meet Mr. Johnson at three o’clock, right? That’s just what you do. So you need to make yourself in that same value proposition where you are the agent they have to meet with. And you’re and I’m not like being like a bully here. But the truth is, is that I have time parameters for real that I want to set my life. I’m not going to meet with someone on Sunday afternoon to talk about losing their house. It’s not going to happen. So in that conviction I have is if that’s not going to work for you, I totally understand.
Speaker3: [00:30:43.83] I have another agent in my office that can do that, but it will not be me personally. Same thing goes with a doctor. If you got if you just got diagnosed with some horrible disease and the specialist is available three weeks from now on a Tuesday morning at eight a.m., guess what you’re going to be doing? You’re going to be meeting a Tuesday M and three again three weeks from now. Yeah. So we it is a real estate agents. We’ve become so accommodating. I’ll meet you wherever whenever we call those pop tart agents in our market, they just pop out boom, boom, boom. Like someone says, I need to see me in an hour and go see a house. Pop, pop, pop. There’s no qualification. There’s no I’ve worked with you before. Haven’t your prequalified to buy a home? They just pop out like a pop tart coming out of a toaster. So my point is, is you’ve got to have massive values. Are you? And if you’re a newer agent, you don’t have get on a team or be part of a company where there is massive value there and be part of a system that you’re a piece of the system that is valuable and that is is worthy to be having on a schedule. Does that make sense?
Beatty: [00:31:48.42] Yeah, it makes a lot of sense. You know, you’re talking about boundaries. And as you’re talking to thing, that also hits me because I go back to Peter’s comment in my interview with him, his his philosophy is the Lord is the one who handles my business. So I don’t have to violate these boundaries because he’s going to provide it. And I think when you’re confident enough with what you do yours, that when the scripting we would call a posture our posture, you you know, these are my boundaries and you’re going to fit it within those boundaries to have the guts, the confidence, the self esteem to hold you, set your boundaries and hold to them. What I found is people really respected and without you know, we haven’t talked on this with you. But I would imagine that after going through that scripting, I’m imagining and tell me if I’m wrong, that these prospects of yours really respect you even more do that.
Speaker3: [00:32:45.02] Well, that’s the thing is
Derek: [00:32:45.78] I’m showing them my negotiation skills now. Mm hmm. OK, so I want everyone to think about this on the call.
Speaker3: [00:32:51.24] So when you when you you’re basically auditioning for a job. So if you’re a pushover at the beginning and you do whatever somebody wants, they’re going to go subconsciously. This guy is weak. Right? So if they want you to represent the most valuable transaction in their probably life in a five year period of time, do they want a weak agent or do they want a strong agent? Do they want a bulldog in there that’s going to fight for him and grab on to something and not let it go? Or they’re going to want some wishy washy person that’s desperate because they need to make their mortgage at the end of the month and they’re afraid if they don’t get the sale, it’s not going to happen. And I and I literally I’ll say that to a client. What kind of agent do you really want if this is, you know? But you know and honestly, I don’t fight for every deal either. So if I get a vibe from somebody that they don’t respect me, that they don’t think I’m valuable, that they’re one of the first questions they ask. So how much do you charge or something like that? You know what? I don’t think this has gone exactly the way I want it to go at this point.
Speaker3: [00:33:47.46] It sounds like the most important thing to you is saving money. And that is not what my specialty is. My my my specialty is providing massive value for people. And what I’ve learned in my experience is there’s reasons why people drive a Mercedes. There’s reasons why people drive a Lexus. There’s reasons why people shop at a nicer store or they go to a nice restaurant when they go out to dinner because they want the experience. They want the value. They want the quality. And if you’re the kind of person that just wants to go to McDonald’s every day and have dinner and you are trying to save money and everything you do and you drive an old beat up car every day, no judgment against you, that’s totally fine. But that’s not the kind of real estate agent that I am. So you just need to make a decision what kind of real estate agent want and then we can decide if we should do business together.
Beatty: [00:34:35.28] Wow, I love that. What other so give me some other scripting, because this is super and for the folks listening to this, I hope you’re kind of transcribing these scripts and and starting to internalize them because I love it.
Derek: [00:34:48.93] Well, I mean, commissions are always a big one. Right.
Speaker3: [00:34:50.77] So that’s that’s why is you know, hey, I know this guy. He’ll do a one percent listing contract. I’m like, you know, but that’s great. So let me ask you, what’s the most important thing to you? Is it to net the most amount of money? The what you say, yes, yes, yeah, you want to net the most money. Excellent. Well, what if I could show you that given us representing you over the last 16 years that we’ve been doing this, we traditionally net sellers at least ten thousand dollars more than our competitors. Would that be of interest to you?
Beatty: [00:35:23.69] Oh, absolutely. But how can you show me that? I can prove it.
Speaker3: [00:35:27.02] So that’s a great question. So here’s what we’re going to do. I’m going to show you the average sale price of the market. Here’s what the average agent gets, the average seller in the market. And here’s what our team can do on an average sale price where traditionally X amount percent higher. So in that way, the extra one or two percent commission that we’re talking about actually translates to about six thousand dollars. So here’s what you’re going to get. You’re going to get top quality representation for me and potentially you’re going to net more money than the average agent, in your opinion. Doesn’t that seem like a great value?
Beatty: [00:35:57.98] Oh, I love that.
Derek: [00:35:59.83] Yeah, it’s a lot of questions. I just ask
Speaker3: [00:36:01.97] Questions. I don’t sit there and preach for half an hour, ask questions.
Beatty: [00:36:07.10] That is a brilliant. So you’re looking at the Selda list price ratio. And for those who may not have caught that, I never thought about using that against the discount brokerage. But that was a that was beautiful.
Derek: [00:36:21.05] Oh, yes. I mean, the same thing goes to, as I say here, the average sale price in Cincinnati last year was two hundred thirty five thousand.
Speaker3: [00:36:28.10] My Rochelle price. So two hundred sixty thousand dollars, so you could either list with an average age in Cincinnati or oculist with me, what’s your choice? That’s really great. And again, question, I’m just asking questions. So someone might say let’s say I’m trying to think of another objection, because that’s the biggest things where I’m going to list with my sister. She just got a real estate license. So that’s great. So how many sales has your sister done? Oh, she just got her license and none. OK, so I’m just curious if you were just diagnosed with a major illness, would you go to the doctor that just got their degree and hasn’t operated on anybody? Would you go to the best surgeon in town?
Beatty: [00:37:11.14] I’d go to the best surgeon.
Speaker3: [00:37:12.64] So this is kind of like financial surgery is the most valuable transaction you’re probably going to deal with the next five years, that correct?
Beatty: [00:37:20.92] Yeah, probably so. I mean, it’s our house is the most expensive thing we have right now.
Derek: [00:37:26.59] So let’s do the right thing. Let’s list your home with a professional that really
Speaker3: [00:37:30.64] Knows how to take care of you. That’s got proven results. How does that sound?
Beatty: [00:37:34.42] Where do I sign?
Speaker3: [00:37:35.65] There you go. It’s confidence, right? It’s not going to win all these. But you know, what I have found over time is the more and more I do the scripts and the more they become natural. I’m not reading them verbatim the way they came off of where I learned them. I’ve learned scripts from different programs and tools over the years. But you’ve got to internalize and that’s the key. You’ve got to make them just part. And if you want to become a top agent, there’s a lot of real estate coaches out there and tells you that you need to spend 30 minutes a day doing script, practice and role plays with someone else in your office. Then you jump on the phones and you do your prospecting for another two hours a day. And there’s a lot of agents that tell me I want to make one hundred thousand dollars a year. And I say, OK, I’m going to give you one task to do for two weeks and see how you do that. And most agents will not even do that. One task consistently, consistently, five days a week.
Speaker3: [00:38:25.96] So the one is square practice half hour. And if they get past that, then there’s two hours of Leegin. Most of them don’t get past that. If they do that, then the third one is is lead follow up going on appointments and negotiating contracts. Those are the five key activities that every real estate agent should be doing every day. Those of you guys who are Stephen Covey fans, he talks about the four quadrants and you get your 80 percent of your time spent should be in the top right hand quadrant, which is the relationship building the the planning and kind of the building of your business, not an escape or an urgent task. Some of you guys have seen that highly seven habits of highly effective people. So the key to those five key activities is you want to spend 80 percent of your work hours. So at the beginning of this call, I told everyone, I said 40 hours a week is great. But if you’re spending 40 hours a week on Facebook in your office, that’s not work.
Derek: [00:39:20.02] Now you only generation.
Speaker3: [00:39:21.43] Ok, great. You’re commenting on on your sister’s political posts from last night’s bubble. Well, that’s not exactly a lead generation. It’s focused lead generation. So if I’ve had agents come into my office and say I don’t have any appointments to go on, so much so that two hours a day Legian turn into eight hours daily. Leegin OK, well that’s hard.
Derek: [00:39:42.04] Yeah. How much money do you want to make again?
Speaker3: [00:39:44.95] You know, honestly, this business is not for people that are lazy, you know, and there’s some I’ve called myself a lazy agent before because I haven’t left my office in a week sometimes, but I’m giving the leads that I’ve generated out to agents on my team, splitting them with them, and then we split the commission. So to me, that’s just called delegation, right? I love it. It’s called leverage again. So we only got the one leverage thing in my seven. But I don’t know how how much time you got today, but.
Beatty: [00:40:12.97] Well, I want to make one comment then. Let’s say I want to talk about your books because and how people can get them, because I think that’s going to be really valuable. I was listening to sales reps talking. This guy makes like multiple seven figures, says his take home pay. And he was talking about that all the best sales reps are scripted. And this is what he’s talking about. You know, the answers people give you and the objections they give you are, as Solomon says, there’s nothing new under the sun. Correct? You know what they’re going to be you need to practice what your response is going to be so you can win the deal. That’s right.
Derek: [00:40:48.49] I mean, honestly so and we always joke about this in my office.
Speaker3: [00:40:51.70] But have you ever heard of a doctor’s practice? Well, that’s what they call it. Right. So and actually, doctors, a surgeon will practice on cadavers and do surgeries on cadavers hundred times before they ever operate on a live person. A lot of people don’t know that, but that’s where they get their practice, right. You don’t want them cutting open you for the very first time and never have practice before when real estate. It’s the only business we practice on our clients, because I can guarantee you. Ninety five percent of the people listening to this call don’t practice scripts. So what happens? They get that objection that calls in. And again, they’re predictable. That’s why I can rattle off time. I have heard them on. All hundred times I want to do this, I’m going to use a discount realty firm, I want a utility commission, I want to blah, blah, blah. I’ve heard all these things before, so I’ve practiced the answers, like you said. And I know there’s one of 10 things they’re going to say. And so I’ve practiced them with a practice partner. I’ve done what we call role plays, where I take a turn, be in the cellar and I listen to what someone else says. I’m like, oh, I don’t like the way that came out. We should tweak that a little bit. So listening to it and also saying it is both important to,
Beatty: [00:41:58.61] You know, this actually makes it sound like you’re a professional at what you do. So your success is not just accidental, is that right?
Derek: [00:42:06.45] It’s part of it’s part of a plan. I mean, so actually, a lot of people ask me
Speaker3: [00:42:09.83] About my daily routine because, you know, I am kind of structured, but I also have a lot of fun. So I actually wake up in the morning, read my Bible, I do a Bible in a year plans. I always like to get through that. And then I pray and then I speak out loud, my affirmations, and then I speak out about my goals. And then I review my four one one on my board here, knowing what I got to do for the week and for the month. And then I do script, practice and role plays. Usually if my team’s doing them, if they’re not, then I don’t do those because after 16 years, I’ve kind of memorized a lot of them already at this point. But then I go into that two hours, a lead gen from nine eleven lead follow up from eleven to noon. I usually try to do lunch with somebody if possible, from noon to one. The rest of my afternoon should be going on appointments, negotiating contracts, anything. I can’t delegate to my office manager because those five activities as I do and then I try to leave the office by five o’clock every day, get home by five thirty to six somewhere in that range, have dinner with my kids and my wife and go home, spend a few hours with them, get to bed by 10:00, start the next day over again about six o’clock in the morning. And that’s my day, almost five days a week, almost every day.
Beatty: [00:43:22.34] And there’s no doubt in my mind why you are successful as you are. So that is really cool. Hey, tell me about your book. So you’re an author of two books. Yes. And let’s talk about this.
Derek: [00:43:34.19] So let me finish the kind of
Speaker3: [00:43:36.59] Outline of the first book just in case anybody’s interested. So the seven lovers, I’m just going to give them to you for free already. So yet if anyone is write anything down, the first one is people and the second one is systems and tools. And I go into a lot more detail in the book with stories and examples from top agents across the country. Number three, third lever is time. So we talked a little bit about that today and how to leverage your time. Number four is listing’s is leverage. And that’s I know something that you and I got connected years ago because I came to the realization how important listings was in my business and how to create leverage, getting more buyers off of those and the time leverage and everything comes from listings. And so that’s actually a huge focus of mine. Number five lever is affiliations. So that’s whether you’re affiliated with a team or with a company, national company, with a coaching system, with some kind of a a chamber of commerce, with a networking group. And I affiliations are huge in leverage. And as a real estate agent, number six is your database and these could be in different order of importance to me. This is kind of what I’ve learned over time, how you treat your database, how often you touch your database, how to get someone into your data. Do you have a goal like you should have at least one new person in your database every day and people like, well, that’s impossible. You’re just not doing enough lead generation.
Speaker3: [00:44:59.66] You’re not going on enough lunch appointments. You’re not going to networking meetings. One person a day in your database in a few years will make a tremendous impact on your business if you work your database. So we talk about a forty touch program that we use in our business here, how often we touch clients, client events, postcards, etc. And then last one is products. So this is where is an agent grows in their business. You kind of step out of the day to day kitchen table conversations. It’s what I call them. I am rarely for the number of sales we did last year. One hundred and one, I probably sat at fifteen people’s kitchen table out of one hundred sales. So how is that possible? Well, one of the things you’re going to do as you grow is leverage. And real estate is you’re going to learn how to sell products. Products goes above and beyond. Just being a listing agent or a buyer’s agent. Can you write a book? Can you start a coaching program? Can you buy rental properties that work for you? Can there’s got to be some kind of system or technique or something that you can offer to someone else teaching classes. All these things E courses, YouTube, Facebook channels. There’s all kinds of ideas there, but that we go into those in a little bit more detail and then there’s some bonus levels that we talk about as well. But that’s the first book. That’s the seven levers of real estate.
Beatty: [00:46:21.53] You know, it would strike me if I’m building a real estate business and you have kind of perfected the process of how to. Pull all these levers and have them work for you. I would be a fool not to buy the book.
Speaker3: [00:46:37.24] I mean, I appreciate that
Derek: [00:46:38.89] For 15 bucks, I mean, you’re getting, you know, nine million dollars worth of GCI production
Speaker3: [00:46:44.80] For 15 bucks. Yeah.
Beatty: [00:46:47.02] So the book, the book’s name, again, is what
Speaker3: [00:46:49.33] It’s called, The Seven Lovers of Real Estate,
Beatty: [00:46:52.30] Seven Lovers of Real Estate by Derek Ty. And I’m assuming probably Amazon.com, if you want it.
Derek: [00:46:57.48] Yeah, it’s on Amazon. It’s also on my website, Derek
Speaker3: [00:47:00.04] Dotcom as well.
Beatty: [00:47:01.36] Ok, yeah. And if you want to be impressed, go to Derek Telecom and just look at all the things this guy does.
Derek: [00:47:07.72] Oh, that’s fine. Yeah, that’s honestly, that was a I met this guy locally,
Speaker3: [00:47:12.31] An entrepreneur, and he’s like the Mark Cuban of the Cincinnati area. He’s got like twenty five businesses. And a lot of people like that’s impossible. I mean, he’s got like 17 restaurants and five in a dog park and all these kinds of stuff. And he does them all well, like they’re all legit, viable businesses. He’s like 60 years old. And it inspired me like, you know what? I’m going to create my own website like he did with my own name. And I’m going to start throwing all my businesses on there, the books I’m writing. And so I was surprised. And one year that I had like nine different businesses that are viable things on that page between my wife’s company and my company and our real estate business are five different rental properties that have they’re all short term rentals. So they have like their own websites. I was like, oh, my gosh, that was fun. Like and seeing it come together is very inspiring.
Beatty: [00:48:02.47] That’s really neat. Hey, before we run, because we got a few more minutes. Yes. You have another book about entrepreneurship, so let’s talk about that. Yeah.
Derek: [00:48:10.74] So this one for those
Speaker3: [00:48:12.04] Of you that are on camera, this one is the Lord’s Prayer for entrepreneurs. So some of you guys have heard. Faith is a huge part of my my walk and how I have done business over the years. And there’s a really cool story that goes along with this book. But for about three years, I felt like I was telling me to write a book, write a book. I had random people coming up to me and churches and of like gods told me to tell you to write a book. I’m like, Yeah, I know. I was supposed to do that a long time ago. So after about three years of this and people laying hands on me and praying for me, like, are you supposed to write a book? I’m like, oh my gosh, I got to do this. So I literally like originally the working title of the book was something different, but it was going to be for real estate agents and faith and real estate. And ironically, that book just came out from another author. So God gave the same idea to two people and I never did anything with it. This guy did so good for them. But so I ended up writing this book called The Lord’s Prayer for Entrepreneurs, because what happened was I had all these great faith and entrepreneurship ideas and trying to blend faith and success and wealth and wealth building and wealth creation. And is it OK to be successful? Is it OK to be wealthy? Is it OK to have multiple businesses? Am I doing something wrong? And should I give it all back and has all these things? I kept reading the Bible and praying and meeting with mentors, and I felt like I was at the point where I had written a lot of chapters.
Speaker3: [00:49:36.22] But it wasn’t in a context where someone could just read the book. It was kind of more of like random thoughts. Right. I go on this business conference with my wife and I’m sitting on this balcony of a cruise ship. I mean, this is a really nice cruise ship, really nice balcony. We got a nice room. I’m living large, right? I’m feeling pretty good. I’m like, OK, God, I’m going to write this book. Like, let’s finish this thing. And I feel like God just like kind of settled me down and said, OK, if you want to write the book, Pray the Lord’s Prayer. I’m like that. That’s like the easiest prayer of all time when we give me something complicated. Right. And and so I kept praying the Lord’s Prayer out loud. And then it was like it hit me like this inspirational moment, like, oh my gosh, all these chapters, all these things I’ve been thinking about, all these things I’ve been writing about, fit in the context of different things that the Lord’s Prayer has in it. Like the actual like if you break down the Lord’s Prayer into like little sections, the chapters, my book almost went perfectly with them. And so it inspired me. OK, now I’ve got it in the book just flowed out of me like.
Beatty: [00:50:41.76] We’re still here and having some technical difficulty, it sounds like, with the Internet, just one moment. On my video feed with Derek, he just has paused, so we’ll see what happens. There is a. Internet challenge somewhere. It might be his end or mine just
Speaker3: [00:51:03.22] Of their faith and yes, OK, it says that says I’m back here.
Beatty: [00:51:08.38] Like, OK, now you’re back.
Speaker3: [00:51:10.30] I was just saying I feel very inspired because all these people that have read it have actually sent me. No. For her doing what you did and writing this book and being disciplined and actually getting it done,
Beatty: [00:51:25.77] Well, that is so cool. I’m looking for and I want to get that book and read it myself. So it’s called The Entrepreneur. Tell me one more time when you write it down.
Speaker3: [00:51:37.47] The Lord’s Prayer for Entrepreneurs and it’s also
Derek: [00:51:41.04] An Amazon under my name,
Beatty: [00:51:43.14] Lord’s Prayer.
Derek: [00:51:44.94] And it’s also on my Derik Tikhon website as well as I link to the Amazon page.
Speaker3: [00:51:49.54] Great.
Derek: [00:51:50.32] So that one is that one. That one’s the really fun.
Speaker3: [00:51:52.98] That was my first book. And I think I’ve got my first love there.
Beatty: [00:51:56.58] I love it and I love it. Hey, before we wrap up, I want two things real quick. Number one, I want to find out just a real point blank question. What does the Lord mean to you in terms of how. Delord impacts your business in terms of your world view of how you do your business, what’s the impact of following the Lord with that?
Derek: [00:52:20.58] Well, first of all, I feel like I’m a steward of the business. And so I used to be like I’m the owner of the Tiger Group.
Speaker3: [00:52:26.46] I’m the owner of this thing. And it’s like, yeah, technically I do own it on paper Legally LLC. But I also understand the power of stewardship. And so God gave me an idea. It’s the breath that he gave him my so it’s his world, his building. I mean it’s like so once you kind of get that gravity of the situation, OK, I am just here as a you know, I am I believe I’m a king. I’m like chosen by God. He’s given me my territory. I have a dominion here. I have authority here. But at the same time, everything’s his. So he’s given me a certain amount of resources to work with. I just want to be the best steward I can have those resources. So I guess my world view is the time I spend. Like I used to worry all the time. I’m kind of a worrier kind of guy. I just want everything perfect. I want it to be right. I’m an overachiever, right. I’m always like trying to get everything done. It’s never good enough, no matter how much of anything, money, wealth, cars, whatever I have is not enough. I want more and more and more. So I had to kind of years ago start settling down a little bit and say, OK, God, let me be content, but also don’t let me be satisfied. There’s a difference. Like, I don’t want to ever feel like, well, I’m good now. I’ve achieved a certain level of this or that. I’m just going to sit back and rest and retire because bad things happen to a guy in the Bible that did that. So he said, now this day, your very life will be demanded of you. So he had stored up money and treasures and barns and blah, blah, blah. So my thing is I want to make sure that while I’m still on this earth, why I’m still alive, I still have the opportunity to help influence other people, that I’m going to do that to the best of my abilities.
Beatty: [00:54:05.53] I love that very good, I love the quote, let me be content, but let me not be satisfied. What a great way to say that the last thing is. I’m assuming that if there are people out there who have referrals for transactions in Cincinnati that you would probably be OK to having them call you.
Derek: [00:54:25.66] Yeah, that’ll be great in Cincinnati, Ohio. They’re, you know, just get a hold of us here. And we we do a lot of corporate relocations into Cincinnati.
Speaker3: [00:54:33.49] We have three of the top 100 employers here in Cincinnati. So we see a lot of people coming in and out and we’re happy to help you with any referrals. We pay. Twenty five percent referral fee. So the same thing goes if buyers or sellers here.
Beatty: [00:54:48.10] Great, just look you up online or some special
Speaker3: [00:54:50.86] Contact GARATY dotcom you to all my websites, my my team website, the books, the rental properties that we do, short term rental properties. Like I said, some people that want to come and stay in Cincinnati, I would highly recommend taking a look at one of our properties there. We we do a five star experience for people, so they’re a little on the higher side of pricing. They start our lowest one, starts at one fifty and they go up to about four fifty at night. But their luxury homes that we rent out here in the east side of Cincinnati, very good.
Beatty: [00:55:21.94] And that’s our AK Beatty directly dotcom. Correct. Well, Derek, thank you so much. This has been just a really exciting interview. I’ve learned a lot, have taken a lot of notes, and I wish I could have taken more, but but I’ll come back and listen. Just an amazing story I’ve got. And I’m so thrilled with how the Lord’s been blessing you.
Derek: [00:55:42.40] I appreciate that. Thanks for the opportunity to be part of your listening audience. I listened to your show as well. So it’s fun to be on the other side.
Beatty: [00:55:49.21] Yes. Well, everyone, just in wrapping up, just as a quick reminder that if you do like this podcast, please subscribe to it, like it on Apple or YouTube and enjoy and learn more about growing your business. Check us out at Get Cellar’s calling you Dotcom, decide a great free resources interviews. Most of the stuff that I teach on there is focused on geographic farming and getting more sales from your personal contacts, past clients and sphere of influence. So you’ll have a very blessed day. And thanks for listening.