00:00.00

wongga

My microphone is on and then what my audio team wants me to do is I'm just going to clap 4 times so they can see a spike in the recording and then they know one we're actually starting all right? So and then I'm just going to do a quick intro and and then I'll I'll get right into the first question.

00:05.82

Royce

Okay, kit yeah kit.

00:20.44

wongga

Okay, welcome to the podcast today I have the pleasure of having Royce Finley a local realtor here in Winnipeg on my as a guest Royce welcome. Yeah so um, before we get into our our conversation on our topic today. Um I thought I just.

00:27.52

Royce

Um, thank you Thank you for having me.

00:38.31

wongga

Get the listeners to find out a little bit about you. Why don't you tell us a little bit about yourself and which your story may be your background.

00:45.39

Royce

Yeah I've been a realtor in Winni Pigg since I was 28 so eight years I'm 36 now um have a beautiful little daughter emory. She's 3 um, and yeah, real estate has been an an interesting. And interesting line of work. You know since 2015 the market's kind of done a lot of ups and downs and so lots of learning and um, no, it's been It's been great having to to deal with the different types of markets over the last eight years and um and so a little bit about before I was a realtor I yeah I worked at Kildonan Tree service for my uncle doing a pesticide managing his pesticide division so he kind of left me to to run that part of the company. And he's like I'll pay you 20% of everything the company does on that division. You just run the whole thing. Ah so you know I was eighteen years old he kind of left it in my hands I felt like I was a business owner because I'm making 20% of everything that I that I do and it was just me kind of running that part of the company. So. Ah, really early on he kind of was my father figure and kind of you know, kept being that business mind which was really good but it was only six months out of the year so I always had to figure out what I wanted to do with the other six months and you know it was hard when you're when you're young, you don't really.

02:16.14

Royce

Know what path you want to go on you. You know I when I was young I was wanted to be a business owner but you know you try these different things and you fail and then you do good and then you fail. So it's you know it's a lot of learning but I finally fell my groove at 28 and and became a real estate agent and here we are today.

02:31.16

wongga

Interesting. So from tree and pest control into real estate I mean clearly real estate and being a realtor is a business in and of itself. So it's interesting that you've always had that entrepreneurial spirit Why real estate like why did you choose that.

02:34.35

Royce

Yeah, yeah. Yes, well I actually I don't know if I actually chose it so you know that time when I'm working six months out of the year I bought a house when I was 20 and the realtor I used at that time I met again when I was 20 7 or so and I was like I want to get into this investment. So I'm gonna buy a duplex right? So I met her at Starbucks here on Henderson Highway and and I sat with her again and she's like you'd be a really good real estate agent and at that point in my time I was like I'm sick of running this pesticide division. You know I'm nothing at 27 years old I need to do something? Um, so I was like really and she said yeah you should do it that was in September of 2014. Um, so october first came I quit the end of the season was there. Ah. Ah, told my uncle I'm not going to come back next year I'm going to become a real estate agent by January Twelfth that was a realtor January Thirteenth I had my first listing and I haven't looked back from that point. Yeah, just got to do it? yeah.

03:44.27

wongga

Wow just hustling grind a yeah amazing. So I know that you're not a single realtor anymore you have a bunch of people that support you what is your team look like today.

03:59.19

Royce

Well, the team has definitely evolved over the last eight years when I first got into it in 2015 I came right out of the gate. Ah you know doing ah quite a bit of business in the first year I did but 56 transactions and then. 11 even months I was like I can't keep up to this without having some support. Um and I always because I had such a service background with dealing with the pesticide stuff at cologne true service. Um I was like how do I give a better service within real estate so within eleven months I hired an assistant. Within the first two years I had another agent with me and then now today we have ah um, me and 3 associates Nancy Stacey and Roz and 2 assistants. My executive Assistant Sarah who is she is my right hand. There's always that one. Um that one person that you just really have to that's you know your support. You couldn't do it without and that would be definitely Sarah and then now we're onboarding a a I guess remote employee and that was ah. That all came from a conversation with my friend Garrett which is you.

05:16.97

wongga

Ah, yeah, well this is well this is you know a podcast not only about real estate but business property management. Whatever comes in and yeah, um for the listeners Royce and I were just speaking out of Starbucks and he found out that I use a lot of remote employees in my property management business to great success. So i.

05:23.90

Royce

And.

05:35.56

wongga

Kind of gave him some tips on how to find his first one and he's just going through those ah initial stages.

05:42.73

Royce

Yeah we're really excited. Ah, we met Isaac. He's just out of Mexico City and he is highly educated in digital marketing social media marketing very personal as very good english spells. Well. In english as well. Which is great. He probably speaks even better than I do which is is also a benefit but ah, you know english is my first language and I swear he's he's better at it than me. Um, and then so we're onboarding him coming up in the next week or so so we're looking forward to it.

06:17.48

wongga

Excellent, no we could probably devote a whole podcast to remote employees and how to be successful in the failures. But um I just want to I want to backtrack a little bit so did I hear you correctly you did over 50 ends your first year

06:28.32

Royce

Yeah I did 56 my first year yeah by myself it was it was a lot.

06:34.96

wongga

So I mean I know that there's going to be ah realtors and and new realtors that are listening to this podcast eventually I mean I don't want you to give away all your secrets. But I mean that's that's incredible I mean.

06:37.21

Royce

Oh.

06:47.68

Royce

Um, thank you.

06:49.84

wongga

Was it a networking thing like how how did you? How did you do that.

06:53.77

Royce

Ah, good question I I didn't really know that answer for a couple years but when I first started I um always thought of how to give back I know when a pig is I'm not going to say cheap but a frugal ah frugal town. Ah so.

07:09.60

wongga

I Would agree.

07:12.39

Royce

Ah, yeah, so I was thinking to myself like how do I give back? Um, and at that time and I actually owned it I sold it two years ago but I had ah a fertilizer and weed control company. So we sprayed people's lawns and I was like you know what I going to still own this company. Well I become a realtor. Um. And then maybe we can give people free fertilizer wheat control when they buy or sell with me. You know I own the company. It's cheaper for me to do it. It gives out it value. Um, so what I did is I hired an employee because I was running it before I started being real estate and I hired an employee and ah. He did the business and then anytime I bought or sold I gave someone a free year of fertilizer and weed control. Um, and at that time I also needed another truck because my personal truck I was using to sell real estate. So I bought a big moving ban and this van did this fertilizer and we control 3 times a year and then any other time. Ah, it was a free moving van for my clients. So I not only gave them a free fertilizer we control I gave them a free cargo van or this big moving ven and my momm into cleaning service at the time. So I also cleaned their houses when they bought our sold for me so I gave them 3 things back when they bought or sold with me. Ah I still do. 2 of them as of today I still have the moving van which doesn't do fertilizer and we control anymore because I sold that company. Ah, but the moving van's here at my office people get to use it when they buy or sell with me. It's just kind of giving back a little bit um just giving a good service being you got to have communication.

08:48.82

Royce

Got to people just want to hear from you so you know at that time 2015 the market was a little softer. Um and you know you list a house and it doesn't sell in two weeks and doesn't sell in three weeks and five weeks and six weeks all they want to do is hear from you so today. Um, it's a Friday we're recording this and I have a follow-up Friday every Friday I block off an hour I call all of the listings that I have hey you know it's another week. We had only 2 showings I said geomarketing report a couple days ago. You know we're doing everything we can to get this place sold. But I just want you to know that i'm.

09:25.60

wongga

A.

09:25.24

Royce

I'm still here and I'm not gone anywhere and just just reassuring them that you're still there. Ah and it's worked so well for for me over the years just just doing what you say and saying what you do or the cliche you know sounds a little cliche but it is. It's it's really true.

09:45.27

wongga

Yeah, no, um you and I you know we haven't known each other that long other than um, some Starbucks conversations but I feel like we connected on that that whole customer service versus customer experience component where you know I believe there's a difference customer services.

09:56.50

Royce

Yeah.

10:01.71

Royce

Yeah, yeah, yes.

10:01.81

wongga

Kind of reacting to that problem and solving it more like I T Tech support. But customer experience is really taking charge of that entire customer journey from you know when the customer chooses you and your services. But. You know? Well after the service is complete that they're so happy with you that they automatically become a cherryleader for your brand and start marketing for you. How have you taken that philosophy and used it with your team.

10:18.87

Royce

Of course. Yeah.

10:26.10

Royce

Ah, systems you know when you're doing the kind of volume and even if you're not doing that kind of volume. You can't remember everything like to to think that you're going to remember to follow up you know possessions today December Fifteenth or sixteenth and you know to follow up in a week and follow up in a month you're going to forget? There's there's so many things that are going on in your your personal life and your business life. But if you create a system that reminds you to follow up and and and creating operating systems and and really stick to them I think is is crucial to any successful business. Um. You know if I got hit by a bus today I would hope my team could continue those those systems and move on. So if if someone's sick or someone you know you you. Someone decides to go in a different direction. You should be able to onboard people very seamlessly if you have great operating systems and you follow them and you believe in them.

11:21.12

wongga

Yeah, no, we do the same thing here and I mean I've I've tried to be that guy that tries to just you know, try to delegate or micromanage or try to control everything and it just as soon as you start scaling it it. Everything falls apart.

11:32.17

Royce

Yeah.

11:38.50

wongga

And like you said when you're sick nothing happens or you rely on that superstar employee like you're talking about which is great but people may or may not stick around and if you don't have a system to back it up. Everything leaves with that person in their head right.

11:44.83

Royce

Um, yes, yes, yeah, yeah, I completely completely agree.

11:57.87

wongga

Yeah, um, sorry rice I'm just sort of taking a ah step back from the recording here I can kind of hear your microphone every time it brushes your caller. So I don't know if you you can even hold it out like that. Yeah yeah, perfect. Okay.

12:03.91

Royce

Um, um, okay I'll just hold it up. Yeah I'll hold it out. Okay.

12:13.61

wongga

Right? So the ah audio team will just cut that part out. Okay, so we'll just move on here So rice hearing you speak about your passion for serving your clients. It's clear you value communications. Are you? um sorry are you purposeful about the amount of communication. Your team has had with your clients and.

12:14.90

Royce

Okay.

12:31.14

wongga

And how.

12:33.46

Royce

Yeah I mean you you just you just have to do it. Ah you know there's there's so many times that I Friday comes and you know house is having sold or you know the you know the client's not going to be. The most thrilled that the house still isn't sold but you just have to make those tough conversations. You just have to have them. Ah so you know I I try and continue lee be on my team to stay in contact with their clients and and not be anxious about the conversation that they're going to have to have. And just be honest I mean we have ah a great marketing team here and we're doing the best job I think we could do. So if you're confident in that. No one else is going to do a better job. Um, so just be confident that that we'll get it done. And and if if it's not a price. It's a patience thing. Um, so you know we'll just continue to work at it and and and just get it done.

13:38.60

wongga

Yeah, interesting. You say that because um I struggle with the same same thing with my my employees you know I think people are afraid to pick up the phone nowadays and maybe that's our culture they want to do a text message. They want to do an email but there's nothing that. Placates a client better than ah, a quick phone call like you talk about follow-up Fridays um, what interests me is is that that word you said confidence. Um I think a client because they know their house best they know the market as as well as anybody.

13:57.92

Royce

Yeah.

14:06.10

Royce

Yeah.

14:10.55

wongga

And they're and they're in it. They're in it. Emotionally they're thinking about it every single second of every single day. How do you train confidence in your in your team.

14:10.69

Royce

In it.

14:20.49

Royce

Well, that's a very good question I think trading confidence is is is a very difficult thing to train. But I think if if you as a leader ah have confidence in your. Employees and what you've in your operating systems your confidence as a leader will rub off on your team. It will they'll they'll they'll feel it they'll they're looking to you for as their leader So you you give them that confidence to be able to. Ah, to have that conversation and that everything will be okay and if something were to go Sideways. We'll work on it Together. We'll we'll get through it. Ah you know the world isn't ending and might not feel good inside but you know we're we're in a tough industry sometimes and and you just got to you know roll with the punches. And you know we'll get through it together.

15:16.51

wongga

Yeah, the the market. Definitely I mean in our current time of this recording. It's fluctuating like crazy. Um as you know, but um, yeah I think I mean we do the same thing you know very parallel in property Management. You have a client who. Wondering why their property hasn't rented very similar to why a property hasn't sold and what we try to do is ensure that we've done everything that we're supposed to do you know the marketing photos are good. The virtual tours. The ad copy looks Good. You know there aren't any mistakes and we haven't forgotten to put it on any internet sites that we promised to.

15:30.37

Royce

Right? Yeah yeah.

15:37.92

Royce

Um, yeah, yeah, right.

15:48.84

wongga

And with everything being equal then it's like you said it's either a price or a waiting game right? and you have to speak to that with the client and let them make informed decisions.

15:51.76

Royce

Yeah.

15:58.81

Royce

I think competence is another 1 right? So ah, you can be confident which some people depending how confident you you are could come off as arrogant or or cocky. But then there's right? but then there's that competence that you really know what you're talking about.

16:06.88

wongga

Yeah, come back fire.

16:13.96

Royce

Ah, that you're confident that your team is is you know the backend systems the marketing the photos like you said all that stuff is done properly and and it just becomes ah a patience or or you know a price thing. Um, but you have to have confidence confidence and competent two cs.

16:31.46

wongga

Yeah, Two C's yeah, we'll have to have to market that awesome. So let's let's unpack that customer experience aspect again I Really want to focus on that. What does the like you're talking about sort of the journey to you know the little issues trying to get a listing sold. Um.

16:33.89

Royce

And yeah.

16:39.28

Royce

The description. Yeah.

16:48.97

wongga

What is the end or delivery of the product look like like do you do anything special.

16:55.92

Royce

Do I do anything special. Um I think right from from the get go I kind of show people in a listing appointment when I'm sitting. There is having the confidence and the competence but also showing them exactly what we do, um, letting them almost. Hold you accountable and saying you know what? if you if you're not happy throughout the time or you don't see it where I've told you this is being marketed and you don't see it call me out on it because I promise you we're goingnna get it done. It's it's goingnna be where I've told you it's gonna be. We're going to be marketing. It. This is our strategy. And then once it sells it's just again, it's communication. It's it's getting the bank their offer. It's getting the lawyer their offer. It's a week before possession giving them a checklist of what things to check on before either. They lose the host to the buyer or the buyer's taking possession. To do a walkthrough of the house to be able to make sure all the mechanical systems including heating cooling electrical and plumbing are in working order. Ah so that day on possession I don't want to have another realtor calling me saying oh the seek. The link ah sink is leaking or. You know the furnaces and blowing hot air I don't want to have to deal with any of that I want that house to be great for the buyers when they come in even if they aren't my client um and then just again giving that seller or buyer confidence that they'd made the right decision. Um, and then of course.

18:25.54

Royce

You know, giving them the moving van or getting the house clean before that buyer takes possession. Um, you know them having thy moving Van which also has you know my my face plastered on the side. So it's it's good for the neighbors. Ah you know hopefully they'll they'll see obviously see the realtor that they used because I have this huge moving van with my team on the side of it.

18:34.30

wongga

E.

18:45.53

Royce

Um, yeah, that's just you know making them feel like you're almost a friend or or family that you really care about. Um you know care about them and care that they that they and happy that they used you.

18:57.88

wongga

Yeah, so if I if I sort of translate what? what I interpret that to mean is your finish line is not the property sold your finish line is not okay, great. They you know your buyer found a house. Your finish line is just completely blowing them away with your service.

19:10.50

Royce

Yeah.

19:17.38

wongga

Until they're just ready to refer you to somebody else.

19:19.51

Royce

Well and the thing is is I think you have to follow up after possession too. So you know you you know most realtors are going to know that they should follow up with their clients on possession date or go see the house do a walker with them. But that's not the end of it. You know a week later hey. How's the move gone How's everything going. Ah, do you have any other questions and then um, ah you know a month later and then now you have all their information you should figure out their birthdays because you have their identification wishing them a happy birthday sending anniversary letters sending them a Christmas card and just keeping in touch with them because if they're happy. Ah, they're your number 1 cheerleader just like you said, um, you know getting a Google review out of them as as we all know Google reviews do help you know people are going to look for a service. They're always going to Google you and see you know if you have any good or bad reviews. So you know we take a lot of pride in in. Just giving a good service however to any realtors that are listening giving a good service by yourself is extremely difficult and I learned that very early on and that's why I got an assistant within eleven months it is really difficult to do these things by yourself having help. Having systems ah is is is crucial because you can't do it all on your own It's really difficult.

20:41.56

wongga

Well you said all of those touch points. You know one week two weeks one month I mean is all of that systematized in your processes.

20:51.88

Royce

Both so possession day is ah is not I think you should be picking up the phone call or the phone and or going to the house and making sure they're okay because you're their real estate agent after that it is a systemized thing so we did have another assistant that is.

21:01.16

wongga

Sure.

21:08.73

Royce

Not with us anymore but isaac from Mexico is the marketing and client care coordinator so he will be a week later emailing a personal email just asking how the possession went and then a month later it will be him and then of course obviously birthdays in christmas. Is a little more systemized. However I do still drop off gifts which I am doing right now and is taking a lot of time. Yes.

21:32.79

wongga

Yeah, no, but I mean I guess um my point is you have these things diorized. They're already set in stone whether it's client a client B Client L or Client Z It's the same process every single time consistently and that's.

21:40.91

Royce

Yeah, every time.

21:47.94

wongga

That's the success. That's the magic formula.

21:50.19

Royce

Well I think some people always ah keep those clients or or pick certain clients based on. Maybe how they did and you know how their relationship went through the buying or selling process or maybe even the value of the house. I don't think the value of the house or the relationships you had unless they hate you ah, really matters. Everyone should be treated the exact same whether they're selling one hundred and fifty thousand dollars house or whether they're selling a million dollar house proportionally they're it's the same value to them because you know they they might not be. As successful as the million dollar seller or homeowner. Um, but that house that's one hundred and fifty grand is still just as valuable to them in their life and it's a huge purchase for them and I just I think everyone should be just treated equal. You know it's just give the same system to everyone. It doesn't matter. Whether they have a $100000 house or a million dollar house

22:48.87

wongga

Yeah I know the audience can't see me smiling here because this is an audio podcast. But um, you know yeah I can't tell you how many times I have a property management client that says well I know I only have one house but.dot right

23:01.29

Royce

Um, right? um.

23:04.71

wongga

And we treat everybody the same way I don't care whether you have one house or 10 you still have the same questions you still deserve to get an answer very quickly. It's it's the same thing it shouldn't matter and it doesn't yeah.

23:11.73

Royce

Yeah, yeah, no, you're absolutely right? and I think that's in with with with life I knew I mean we mean you have talked a couple times and we both love to travel and maybe that has a little bit to do with it because we you know we. But a developing type of countries or I I Love going to developing countries and you really just you really get it doesn't matter whether you're black white yellow like you know it doesn't Matter. It's you know everyone should be on the same playing field and and and feel and have respect for each other and that's and it's just.

23:30.29

wongga

Agree. Yep.

23:47.63

Royce

That's how I like to approach a lot of things and in life.

23:51.24

wongga

Yeah, no, it's the same thing with with housing I mean we ran to everybody we you know we screen everybody with the same same screening Criteria paint everybody with the same brush. It doesn't matter. You know. So yeah, um I wanted to ask you another question here because you know it's it's.

23:58.94

Royce

Yeah, yeah.

24:08.35

Royce

Um, yep, over two thousand yeah

24:09.30

wongga

Pretty competitive being a realtor these days I I mean how many how many realtors are in Winnipeg right now to your best recollection. It's over 2000 interesting because when I was a realtor back in oh geez dating myself. But oh seven zero eight I think there was maybe 16 1700 so you know that continues to grow.

24:23.57

Royce

It hits.

24:28.12

wongga

Um, how do you stand out over your competition. You know to be top of mind with your clients once that transaction has been completed.

24:29.88

Royce

This is.

24:36.57

Royce

Well those touch points are definitely ah, excuse me a um, huge point you got to stay on top of their mind because honestly the amount of times that I you know someone bought a house in 2012 and then I look back on the history and they're. And you know they want to sell with me and I'm like oh who is your realtor then and they have no idea they don't remember ah if you touch them 4 times a year they'll remember you um you know they will and it's it's not cheap. Ah my broker will always.

25:02.90

wongga

E.

25:10.56

Royce

Use this line and and kind of make fun of me because I've been saying it since I became a realtor and it's really cliche but you got to make money to spend money or sorry that was backwards you got to spend money to make money. Ah so ah, you know and I've been saying it ever since I first started you you got to spend it.

25:18.47

wongga

Yeah, yeah.

25:27.77

Royce

You really do and you have to spend it in the right ways because you could spend money in in some bad ways and and not see a return. Um, so you you just you? you got to spend it in the right ways and you know every client that you have shouldn't be a 1 ne-time client they should should be residual business for years after that still today eight years later I'm still getting referrals and dealing with people that I met year one and sold a house in year one eight years later and that should go on for the rest of your career if you do it properly.

26:03.84

wongga

Yeah, well I mean as you know our our motto here at upper edge is we manage relationships not properties right? and and that's what you're talking about. It's a person-to-person business.

26:10.30

Royce

Right? he.

26:16.46

wongga

You're you're putting everything into that relationship because if you foster that relationship it it continues on well past the transaction. So um, let's talk about teams I have ah a large team. You've got ah ah a team and you you know onboarding a new team member. Um.

26:23.48

Royce

Yep.

26:34.17

wongga

And I've also seen on social media. You've done some pretty crazy crazy things out there and and I see like team photos in there. How do you inspire your team. What's the glue that keeps your team functioning.

26:47.80

Royce

The glue that keeps the team functioning. You know I didn't have um when I hired Ras ah mattos she really you know I was always a relation type relationship type Realtor. And not a transactional type realtor but she kind of she's that that person that's like gives gifts wants some reassurance. Ah you know, just wants to feel a part of something and I I was just my head was down working all the time and she's really kind of. Enlightened me that I need to be a little more softer in the sense of of you know making people feel like they're they're part of this team making them feel involved asking them what they think of your idea. Um you know so many team leaders will be. This is what I'm doing and this is. How you're going to have to adjust and that's it and you know I came to the point where having their opinion and making them feel like they're a part of this team and they're a partner in this team. So ah, you know a lot of people have them as a sales associate with Royce Finley and Associates I have them as a partner so on everything they market. They're a partner. They're my partner just because my name is on the title doesn't mean that they're not just as involved as I am so if you can make that within the decision making now. Ultimately, it's going to be your decision at the end, the team leader or the boss or whatever it is that you're.

28:23.42

Royce

That you're leading you you you should get their opinion and and and value it and make them feel involved and I think that's a really crucial piece to making people want to stay. Ah so that's on that front and I guess on the real estate front. It. You you got to give some leads at the end of the day right? because ah, that's that's really why why they joined you is for the systems the Kamarade camaraderie and and getting some leads right? So you know I work mine a little bit different than maybe some teams. But.

28:41.90

wongga

I.

28:59.40

Royce

You know they get they get a lot of leads to chase and and we do a lot of marketing to try and generate those leads I think that's probably 1 of the most difficult things as a real estate agent is just lead generation. Um, so you got to put money into that and.

29:16.83

Royce

And just do the right things which is spend a little bit of money like there's some realtors that are in my office here that you know they've been 11 years they don' only have a website like you got to have a website like I mean that's basic stuff. Ah so you know there's sometimes in this in this.

29:26.81

wongga

Yeah, yeah, yeah.

29:36.26

Royce

Industry. There's sales peopleop which are real estate and then there's business men and women that are also real estate agents but they have the business mind and those really successful real estate agents and teams have the business mind. And they're not just salespeople.

29:57.10

wongga

Right? So they're building businesses. Not a transactional type of relationship like you said you know, um I think as leaders. It's really important to have a vision. Um.

30:01.45

Royce

Um, right right.

30:07.67

Royce

A.

30:11.11

wongga

And know where you're going I mean otherwise the ship is just turning all over the place. You know you can go from point a to point B But if you're going zigzagging all over the place. It's going to take forever to get there. Do you I mean obviously you have a vision. Do you share that with the team to inspire them I mean is that kind of the magic formula.

30:13.45

Royce

Kept.

30:20.85

Royce

Um, yeah.

30:28.40

Royce

But yeah, you know we have we have goals every yeah every month. Ah we have a vision we at this time of year in my opinion realtors should be ah, putting out their goals for marketing for the year ah that's marketing goals that's income goals. Whatever that is transactional goals but having a goal strives you to want to reach that if you're just out there spending money making money selling houses. You have no purpose. You're just. You're you're making money spending it and just go on about your day and you have no structure and you have to have structure in a proper business if there's no structure and there's no goal. What are you doing? You know you're just out there flying by the seat of your pants so you have to have. Ah, some of that structure and goals. Um and back to this time of year. There's a lot of realtors that I that I've in my office that I've talked to and some of them are are pumping the brakes the market's starting to cool down. Ah you know they they might not want to hire an assistant or. Or they you know might be holding back on marketing a little bit I have the complete opposite outlook my foot just went from on the gas to the floor right? So now. It's straight down so onboarding that other person that we talked about earlier putting our.

31:49.81

wongga

A.

31:59.18

Royce

Our marketing goals even higher for next year um because this next year is going to be a test for not only real estate agents for businesses. Um, 2023 is going to be a tough year I think we're going to look back at this lot like. And I was a little bit younger at the time so I wasn't able to take advantage of it but you might remember and I'm not trying to date you here, but 4008 we look back today and say man I would have bought 6 houses in Phoenix in 2008 and they'd be worth how much money or our house in Vegas or.

32:30.74

wongga

Yeah, oh yeah.

32:35.91

Royce

You know I would have bought the whole block in the early two thousand s I would own the whole the whole street if I could have bought that and known what we did today and I think of it like you know in 10 years We're going to look back at 2022 2023 and what did you do to get ahead of that curve before that. Started coming back up because we are going to have a tough time I think in the next next year. But if you're prepared and you're able to have some cash on the sidelines. Um and wait for some good opportunity I think 2023 is going to be a really great time for some. Ah. Some good opportunity.

33:13.60

wongga

Absolutely you know? um maybe you don't know this but my family used to have a chinese restaurant over on Portage Avenue and um, it's interesting. You know the generational gap. Um.

33:17.88

Royce

Okay, stop.

33:23.78

Royce

Um.

33:25.27

wongga

So here's my parents. You know we're doing okay, um, I'm in my early 20 s helping out and trying to convince them to put out Coupons for for different things and they're like well why would we want to do that. Everything is going great right now. And I said but you need to spend them advertising dollars because things are good because think about I love restaurant analogies think about a restaurant that's not doing great. The first thing that they do is not to advertise they start cutting costs. Maybe they lay off a staff member. But then.

33:43.10

Royce

Um, like.

33:52.62

Royce

E.

33:58.87

wongga

You know they're not advertising. So now you know maybe the customers are not coming in So what do they do? they increase their prices they decrease the sizes of the dishes which then the market doesn't like so unless people start coming in I mean it's just almost.

34:07.71

Royce

Okay.

34:15.16

wongga

Ah, Death Knell for that restaurant if you if you take that attitude.

34:18.70

Royce

Um, yeah I agree and I think that's the same attitude that I'm kind of taking now that the you know the market's slowing down and you know people are are kind of pumping the brakes again. This isn't the time to pump The brakes is the time to. You know, put it down and and put some money forward and and create systems. So when the market does come back and I promise you it's going to come Back. There's it. It doesn't sit down and stay down here. It's going to come back and it may be a little bit different. That's just a. You just got to adapt and and move forward.

34:51.98

wongga

Absolutely well. Let's talk about that industry. You talk about 2023 but looking back even the last five years how has the industry itself changed.

35:04.61

Royce

Well I think it's been more than 5 years but social media obviously is a huge thing. Um you know and you get lots of people and I also think podcasts you know I'm not a huge podcast person I have some. Ah. Some friends that do a lot of ah real estate business in Toronto that are huge on podcast and they do very very well. Um, but the industry has changed a lot in 5 years not just with pricing. Um, but with. Client experiences that we kind of talked about um more people are are educated on real estate. Ah you know the web is available to everyone. Everyone has it on their phone now. Ah so you know you know maybe ten years ago people in the younger generation were the ones that were on the.

35:39.38

wongga

He.

35:58.42

Royce

You know techie stuff. But now you go like there's I had a client that was 91 years old and that guy could docuign a fine text message email with the best of us with the best of us and he's 91 years old so you know everyone has access. Um, to the technology so you know if they're not seeing their house being marketed properly. They're going to call you out on it. You know where I think a lot of realtors and so hopefully not none of the ones that have been in the real estate industry for 20 years or so they literally just. I call it the 3 P's and there's a lot of young realtors that do it as well is ah they put it on or they take pictures put it on the mls and then pray that it sells and that is such an ah a bad model and so many people if they if you're listening and you and you do that. Think about your business and if that's what you do you need to change that um, because that is you know that might have worked for the last two years because you know a dog could've sold a house in the last two years literally everything's sold but that's not that's not that's not the recipe for success.

36:57.57

wongga

Yeah, yeah.

37:14.14

Royce

Ah, you can't just put it up on the mls and then pray that it sells there is a lot of avenues to market a house There's a lot of different websites. Um, it's a lot of work because if you're carrying a lot of listings. You got to update those? um and then obviously and then client. Letting your clients know where you're marketing it and and showing them where you're marketing it. How many people are engaging on it. How many people have shared it. How many there's so many backend systems. Um that you know you could see how many people clicked on it. How many people have shared it with a family member and share that with your clients. Let them know where you're marketing it. And how many people are engaging on it and if you do that every week if that listing expires on you. They'll most likely come back to you because they know that you're doing a really great job. You've followed up every Friday you've showed them their marketing reports. And they're going to come back to you and they're going to trust that you will get the job done eventually. Ah so and you you don't want to put all your blood sweat and tears and trying to sell a listing for 60 or ninety days and then you know the agent the next agent gets the price reduction and gets it sold because you don't get any of that. So.

38:24.49

wongga

Yeah, yeah, that's so true.

38:27.30

Royce

Put your put your foot forward for those ninety days and and and if it doesn't sell which some houses don't that you will get that listing back.

38:35.39

wongga

Yeah, otherwise everything you've invested into that client is basically gone and you've lost the client on top of it right? Yeah so I mean I hear what you're saying about changes. What about technology has that changed in the Realtor space in the last.

38:39.32

Royce

Yeah yep, yep Yeah, exactly.

38:54.30

wongga

5 years or so.

38:54.70

Royce

Um, it has there's a lot of people that you know Bombbamb has been very popular with you know, just saying hey it's you know and thank you for the showing today. It was great to meet you I hope we can work together in the future and just kind of having that face to face. Ah, that's been very popular. Unfortunately I haven't used it myself. Um, you know there's there's a lot of good crms out there that are constantly keeping people on on drip campaigns and you know some of the I was just in Montana with some of the top realtors in the country two weeks ago and. You know, a lot of them use that drip campaign that follow up campaign but you know you think we're competitive with 2200 realtors go to the gta. There's like 50000 realtors that's really competitive so they always are trying to set themselves apart. Um, but you know what.

39:40.67

wongga

Wow! yeah.

39:50.13

Royce

Honestly, if you go to the basics If You just go back to simple sales and simple business I think that can lead you to a lot of success communication doing what you say and saying what you do getting it to all the external websites that you can market at keep it in constant communication. The basics are always going to really do well for you now. The customer acquisition part is the part where technology is really where you really need the technology. How are you getting these people to want to use you? Um I'm still learning that to be honest.

40:28.55

wongga

Um, yeah, would you say that Anecdotally I mean I don't expect real stats but you know when you when you say I guess I call them like almost cold cold leads calling from the internet or or you know versus.

40:29.17

Royce

Still learning that every day as well. You know technology is always changing. So.

40:42.82

Royce

Um, yeah.

40:46.77

wongga

Warm referrals from your existing or current clients. Um, what would you say the ratio is there.

40:53.98

Royce

Ah, well if you would really like to know that conversion rate of cold calls if you're at a 5% conversion you're doing really well 5%

41:02.85

wongga

I didn't I didn't mean literally cold calls. What I meant is somebody sees Royce Finley and associates on social media and they call you ah versus so that I call that a lead right? versus you know the last person that's super happy that you sold a house for them and they were like oh here's my cousin.

41:06.61

Royce

Yeah, came came came it. Right? Yeah, Well we're we're converting about like a 60 to 65% if they're calling to to work with with someone from the Team. We're probably.

41:19.61

wongga

What's what's the ratio there.

41:25.79

wongga

Ok.

41:34.30

Royce

Closer to that 70% range now they're calling generally speaking. Those people are calling 3 or 4 or 5 other realtors right? So if I'm getting in the door I'm a little confident my conversion rates a little bit higher. But.

41:40.95

wongga

Great.

41:52.74

Royce

I also don't come into that meeting with any documentation for them to sign some agents are going to be like you're crazy. You got to get out of that meeting with paper documents signed I don't walk it I walk in there with my market evaluation when I'm doing a market evaluation on house and some ah brochure and pen and whatever about. About myself and the team I will never bring listing contract into that house ever though 1 there's one in my truck but I will never bring 1 in there I come in there just me just the document if they want to work with me. They'll come and work with me. Um have I lost listings that way.

42:15.35

wongga

Yeah, yeah.

42:29.27

Royce

Hundred percent have I got a lot of list things that way I think more so than not ah because how out. Um, last time you bought a vehicle or not but is it not the worst when you go into any kind of sales and they're just like it's all you want to buy this.

42:46.30

wongga

Yeah, yeah, what can I do what? what will you do to sign this right now. What can I do to get you not to leave. Yeah, it's all those sales hard sales techniques.

42:48.27

Royce

And so you want to sign these documents what we right? hard sales techniques and and they work for some people and that's great and I'm not selling anyone. They shouldn't do that. But again, we're back to relationship type business and if you left that table and they're like thinking to themselves. Wow, that's a great guy or gal. That's that's worth more than any paper that you're going to push across that dining room table for them to sign they're going to leave that conversation being like that's a great person like they're great. They're knowledgeable. They're competent and confident. Um. And we want to use them and then you follow up. Maybe you send them a lottery ticket with a little note in it $2 lottery ticket you know or scratch ticket saying you know? Thank you it was great. It was great having me hopefully we can work together then follow up with them a week later and until they tell you that they're using someone else. Or they're not selling till next year write it down put it in a note or some kind of calendar reminder to tell yourself to phone them next year whenever that time is just keep following up and just having those conversations and sometimes it's when I follow up sometimes it has nothing to do with listing their house. You phone them. You talk to them about what you talked about at that dining room table which often had nothing to do with real estate whether it was traveling whether you both like to hike cross country ski be on a motorcycle talk about that though, they'll bring up real estate. You don't have to bring it up. They'll bring it up to you.

44:22.40

wongga

Yeah, now it's it's an interesting you say that because I'm also I mean when I speak about property management I'm not trying to go for sale I'm trying to see if if it's a good fit if I can help the client I remember when I first got it in as a realtor in 15 and um.

44:23.22

Royce

Right.

44:38.93

wongga

My broker at the time made me go through a bunch of these I don't know they were probably from like the 80 s and 90 s these realtor videos and they talked about how to do like. Ah, one- visitit listing appointment or something like that right? And that's what you're talking about you go there, you're sitting at the kitchen table. You spread out that listing agreement you're trying to get them to sign with pen and paper and I mean there is something called buyer's remorse right? You buy ah a corvette the next day you're thinking.

44:49.21

Royce

Yeah, yeah, but. Yeah, yeah. Yeah, nope.

45:06.24

wongga

My goodness what have I done you don't want your clients to have that part of the customer journey is they want to feel great the day after they signed with you. They want it to be the best decision of their lives full confidence. So and it takes time to do that and if it takes 2 or 3 visits 4 or 5 touches.

45:12.59

Royce

Um, yep, yep yep.

45:21.63

Royce

Ah, yeah, yeah I agree I Yeah I've never been a hard sell and I've kind of implement that with my team as well. That don't hard sell them.

45:23.56

wongga

Those are better successful like yourself, get it done.

45:41.50

Royce

Be that relationship be their friend. Do it together. You guys are are doing this buying or selling journey together I'm here to help you and guide you. That's what I'm here to do is to help and guide. You is to not make you feel pressured or to. Push some paper across the table and get you to sign is to just have those those relationships and they're going to go so much further because the last thing someone wants is like you said buyers remorse. You're not going to get any referrals from those people there you know, even if you. You hard sell them on an offer that's $30000 lower. They're not going to be happy with you at the end if if it's not what's best for them. So as much as it's it's hard sometimes because you maybe have a lot of money invested. Um, you got to do? What's best for the client. Always my opinion.

46:39.80

wongga

Yeah, hundred percent well let's ah, let's wrap this up but before I do um I ask this every guest this question and I'd want to hear what you have to say so um, this is the win podcast w I n how do you define success or winning like. What does winning look like for you.

46:59.30

Royce

Very great question I think it's an awesome question. However, um, what I thought was winning in my first I've been a realtor for 8 years in my first six and a half years ah, is different from what I think today. Um, what I thought winning in my first six years was how much money I was making um how many clients were happy. Um, at any cost.

47:14.18

wongga

Okay.

47:31.64

Royce

All I wanted was my clients to be happy and me to be successful financially what has changed in the last year and a half is time time for travel time for my daughter time for my family time for my friends. That is success. Um, you have to be able to balance both I'm still trying to balance both and get better at it. However, I'm so I'm starting to take a little bit more trips and traveling I'm starting to try and spend more time with my daughter. Um. My friends making that time because you only have one life and I worked six and a half years every single day day and and day night day and and day out married divorced a child with someone I'm not with anymore. Um. There's there's no success in working 17 hours a day and sleeping for the other seven it it just you know you might have to for the first couple years but you have to have time for yourself and in that. And my opinion if you could have all of that that is true. Success.

48:51.60

wongga

I Couldn't agree more? No I think time and and self self-help you know soul fulfilllling things is probably I mean I I Definitely that resonates resonates with me. You can't buy that you know. It's a most important Commodity. We have.

49:11.22

Royce

Yeah I Yeah I couldn't agree and I'm still learning at it I'm still learning to to do it better and and you know you know and I think every business owner will always struggle with that. Um, but if you're sacrificing your health and your family and your kids and your friendships.

49:14.49

wongga

Me too me too.

49:28.88

Royce

And you're 60 60 five years old your wife's not not super happy with you. You never see your friends. You don't travel. You can have all the money in the world but are you happy? Are you successful? Really your bank accounts happy.

49:45.38

wongga

Yeah.

49:48.82

Royce

And you know but that has you know that's not a measure right.

49:49.80

wongga

Yeah, that's not a measure for sure. Well I loved I loved it today. Royce I want to thank you genuinely for hanging out with me here and I know that our yeah, our our guests are sorry.

50:01.50

Royce

Yeah, it's been fun.

50:06.77

wongga

Listeners are gonna have just ah, get get a lot of nuggets from this conversation. So I'd like to thank you again for coming on the podcast. Yeah, we'll do a market. Update So thanks for thanks for coming well take care. Okay, all okay Bye bye.

50:12.72

Royce

Um, you're very welcome anytime. Maybe we'll do it again in the future. Yes, let's do it. Awesome! Thanks man, Talk to you later.