How has the Market Shift impacted the #8 Team in the Nation?

In this weeks episode of All or Nothing in Real Estate Casey Demille of RISE and Team Leader Matt Smith dig into the BEST PRACTICES you can implement right now.

The Real Estate industry is in a constant state of flux, and it can be hard to get ahead...

After listening to this episode you will have action items and tools equipping you to take the Industry by storm.

✅ How to be a GREAT Leader

✅ The most important aspect of Matt's business

✅ How to hold your team and peers accountable the RIGHT way

✅ Processes that work amidst the normalizing market

This isn't some entrepreneur bullshit - this is tangible advice straight from the trenches.

Listen now and don't forget to leave us a review!

hey matt smith here founder of all or

nothing in real estate i did a

webinar with a company called rise who

is a great lead generation partner and

provider they work with the best teams

across the country they asked me to do a

webinar on best practices and it was so

good i wanted to share it with you so

make sure you stay tuned this is a great

interview you don't want to miss it

all right again i have uh matt smith

here

very excited to you know interview him

with some questions and hopefully help

you with any

uh questions that some of these team

leaders may have and you know direct it

to you matt so

uh matt tell me about a little bit about

yourself what you were doing prior to

real estate we'll just go ahead and kick

it off yeah man thanks for having me um

super excited to be here um i'm excited

to share and help that's kind of my

passion now um

as i've grown my team and growing

through the business it's just helping

others so i truly appreciate it so

i got into real estate kind of by

accident um i grew up in a family

business and just always wanted more and

so just started thriving for more and

took the next sales job and the next

sales job and the next sales job and

stumbled into real estate actually my

wife was working for a property

management company and at their work

functions um the broker at the time

there said dude you need to come so real

estate i think you can do great and so

um after three years of that i finally

jumped into real estate and best move

ever made didn't start out that way

started off

the first you know how it is they don't

tell you in real estate school that you

don't make money day one

but started off very fortunate as i as i

mean my very first year i sold 74

transactions as a single agent um so

just started off very very fortunate uh

just all i was top work ethic very young

so my family business was a sawmill

so um if you don't know anything about a

sawmill everybody you have to work

harder you can make it and so i think

that's really what i contributed my

first year success was just putting in

the work and i think that's probably

relevant to everybody on this call today

with this market

people call it a shift a correction

whatever you want to call it

i call it a normalizing market

what we've what we experienced the last

two years wasn't normal right and so the

market is just now normalizing and it's

going to take more work ethic than the

agents have put in over the last two

years in order to make it through this

market

oh i love that

so talk to me about your leadership role

what is it that makes you so successful

from

say any other ordinary leader

yeah i mean i'm nothing special um i

mean my graduating high school class was

33 kids um so come from come from uh

come from the bottom um so to speak but

uh i think so right now

my team we're at

we've just we've grown really quickly

this year at the end of last year we had

20 agents um we were ranked number 15 in

the nation in real trends as as far as

large teams um new rankings came out

we're number one in the state of

missouri number eight in the nation uh

very proud of that with my agents and my

team

and it really just comes down to getting

the right people and building the right

culture and so a lot of people think

culture's a buzzword and it can be but

you have to be willing to be the leader

that your your culture needs and so

culture is yes we're a family we like

each other we love each other we support

each other we hold each other

accountable but it's also what work are

you putting in as a culture what i found

is a lot of people you are who you

surround yourself with and so i want to

surround myself with people that inspire

and motivate me and so adverse is

surrounding myself with people that drag

me down and so very early on we just

started with culture first and we've

kept that ever since and it's no

negativity no gossip and we live and

breathe by our core values those are our

guard rails to make sure they keep us on

track oh i absolutely love that so you

kind of touched on a huge piece for us

that we feel is very important to be

successful here at rise and that is

accountability talk to me about the

person that you have in that role when

it comes to accountability for your

agents and these uh lead sources

yeah so um right now that's me

uh but so there's it's

it depends so accountability especially

with

with rise in particular um

one of the benefits of ryze is that it's

it's a lot of agents sometimes when you

bring them in and they start prospecting

leads they think they're cold calling

like well this lead didn't answer so why

am i calling them the cool thing about

the rise opportunity is that most of the

leads answer you're actually talking to

somebody right it's actually you're

actually speaking to somebody that said

they want to speak to an agent and

that's to me

especially bringing in new agents

whatever it is you're doing organization

that's a huge value add especially as

this market is is normalizing because

i'm a real estate coach too actually you

mentioned john chef black's going to be

at an event i'm actually a coach for

john jeff black he is my coach and i'm a

coach for him um and so one of the

things that i'm seeing across the

country is that

leads are down significantly in almost

every single market for the same exact

spend

and so what does that mean like you

can't just go out and buy more leads now

i mean maybe you can to a certain extent

but what you need is more high intent

leads better quality leads better

conversion rates and maximizing that

effort and that money in this market is

going to be huge and so holding your

agents accountable to standards in

particular with rise on the higher

quality leads and making sure you follow

the systems and processes that you guys

lay out so beautifully that help with

the algorithms get you more leads get

you better quality leads that's just so

so crucial so

number one we rolled out standards and

protocols if you want to be on the op

city team here's what you're you are

committing to doing we meet weekly to go

over it and see where you're at if you

don't make it we'll help coach you up or

coach you out

maybe this opportunity these opportunity

of leads aren't for you but if they are

here's what they've done for others and

i know what they can do for you but in

order to be on this team so you don't

bring the team down as they hold here's

the standards that we have that you have

to meet and so we just hired a va as

well to help overlook that as we've

grown um to just look for metrics and

say hey here's a red flag here's a red

flag talk to this agent type thing

but it's so so crucial that i mean you

guys casey you guys roll it out

beautifully what metrics you need to

track why they're important so you guys

aren't attending the best practices and

all the training that they're giving out

there is

it's so valuable so just make sure you

guys take that to heart and where i've

seen people go wrong is they just kind

of dabble in the best practices

that's not how it works you got to go

all in on the best practices and do

everything to a t

it doesn't happen overnight

the instant gratification world we live

and i have agents on my team they're

like well i've done it for a week how

come i don't have better leads yet it's

because you've done it for a week

it takes time right

if you consistently do the right effort

over a period of time i mean i saw our

average sales price is around 200 000 in

our market

and a lot of agents were complaining the

first leads as they signed up were lower

price points

well i had an agent that followed the

system for three weeks

they got they got three leads that week

that were double harvard sales price

through rise

why did is that a coincidence or did

they actually just follow the system for

a period of time in order to get the

real benefits i think that's just so so

crucial that you guys understand coach

your agents i don't know if you're team

leaders agents wherever you are it's so

crucial that you follow that process

and again i keep saying it but as this

market normalizes there's unfortunately

there's gonna be a lot of agents that

don't make the cut that's my opinion and

you're going to have to do the extra

work you're going to have to follow the

processes and get back to the basics and

work them so so well

and make sure you're mastering the

fundamentals and that starts with am i

am i maximizing every opportunity and

rise is a huge opportunity as long as

you follow it properly

no i absolutely love that in fact all

new teams that join rise one thing that

we did put into places it is mandatory

that all new team leads as well as

agents attend three best practices in

order for you to have success the last

thing we want is teams to sign up and

not be happy with the services that we

provide so it is a crucial that you

attend these best practices tony will

touch on some realtor.com stuff as well

as oh joseph um hank type we're going to

go we'll get into that um matt so you've

been in the program close to a year now

i remember the first interaction that

you and i had we were talking about

referral based leads and how you you

didn't really like them in the beginning

but talk to me now since you've been in

the program how has rice helped you

develop your team yeah that dude that's

such a great point i actually forgot

about that because i was the guy so as

i've grown my team um i was able to i'm

a marketing guy and i i've learned how

to create my own opportunities i've

created a great brand for myself and my

team and i just stayed away from the

referral base stuff because i could get

that same name through my marketing but

what i came to realize is that that's

only scalable so quickly right because

if they talk to rise and have a better

conversation just because they're in my

database doesn't mean they're going to

work with me

and so you have to find that balance and

what what i've really done is i've used

that as leverage

so not only do now i don't have to

risk all that money up front in hopes

that my agents have this in my isa

department have the skill set to convert

that lead into a client because ryze has

done that for me what is that percentage

worth

knowing that you have an opportunity

face to face with that person like what

would you pay for if every lead that

came through you had a 50 better chance

of being face to face

like that's worth a lot of money and i

feel like that's what this referral base

source is and just the if as long as you

work it properly because i mean

if you look at big teams as they scale

like there's a lot of

teams have isa departments rise is part

of my isa department that's kind of how

i how i pitch it to my agents because

they are talking to a client that wants

to set up a meeting with you like that's

the mindset that we have and so whenever

you have that mindset you realize that

are way better opportunities

than the referral fee is just it's

binary right it doesn't matter because

you are actually having that more

opportunity not to mention the long-term

effect right i preach this all the time

on my podcast and my coaching is at a

coaching call this morning where we

actually talked about this is you need

to teach your agents to do uh turn one

client into three clients

so as an example rise gives you one it

has a referral fee you're like oh i

could have made more money doing working

on another client but could you really

or because what's the time value of

money how much time did you spend

prospecting trying to set another

appointment versus somebody that's

basically calling you to send employment

there's a big difference there and so

just got to make sure to analyze that

and then if you have that opportunity

through a rise client and it was a

referral fee what are you doing to get

their sphere to get their friends what

impression are you leaving on them are

they going to sell a home again in the

future probably are you staying top of

mind it just gives you an opportunity to

expand and grow quickly and give your

agents opportunities that are more

low-hanging fruit versus everybody

having to feel like they're cold-calling

well thank you so much i absolutely love

that um

i always tell team leaders um i probably

told you the best converters that we've

seen with ryze are someone that's you

know hungry brand new to real estate you

send them to the best practices now matt

i'm sure you've probably experienced

that yourself with your team um talk to

me about you know when you bring on a

brand new agent do you get them involved

with rise how does that work well 100 um

i

if you join my team as a brand new agent

you are on the rise team automatically

you have to hold up held up to the

standards but if you don't hold up to

the standards you're not cut out to be

my team

like that sounds harsh i present that in

a way nicer way of course but ultimately

if they're not going to put in the work

to stay up with rides which is a great

opportunity for them as a new agent i

don't ultimately want them on my team no

longer right i want the right people on

my bus and so it's just a great way to

indoctrinate them into the work that

it's going to take to be successful and

so um and on top of that anybody that

has ever worked with a bunch of agents

if you're a team leader or if you're a

new agent we're all new agents at once

right and so if you go back to when you

were a new agent you didn't know what

you didn't know

and my new agents as they're coming on

are so successful with rise way more

successful than my veteran agents

because they don't know any different

other than to do what rice says

if you just follow the process

specifically you have success it's crazy

like the new agents are twice as

successful if not more on rise and other

referral based opportunities because

they just follow the process they don't

try to outsmart it or try to mix it up

to make it to where they're like oh well

i can do it this way or that way because

that's how i've done with my other

clients ryze knows how the algorithms

work rise knows what these these clients

want to hear and so just follow the

process and it works

absolutely i've had teams that started

with two agents one team in particular

started in portland they used our

program to expand into the seattle

market and now phoenix started with two

agents and now they're up to 25 so if

you utilize it correctly ryze is an

amazing tool to help you grow your team

so

absolutely so on that so sorry casey

catch you off but like not only my local

team but i'm a part of exp so i have exp

network across the country and one of

the things ryze has given me the

opportunity is give agents and partners

and teams in other areas as an example

i've got two teams in florida i've got a

team that's in st louis which is two

hours away from me that got on rise and

they're like dude how did you get me

signed up for this like i'm the hero all

i did was introduce them to casey in

case he did the work right but it's it's

just the leverage of knowing these

opportunities exist

because if you i would be willing to bet

if you poll people and ask them how well

op city works for them a lot of them are

not going to be happy with op city they

did not have the results they expected

but what does casey and rise do

they help you maximize that opportunity

in case you may have the stats but i'd

be willing to bet you guys get a lot

better percentage results on opcity than

than just an agent going through op city

because of the algorithms and coaching

you guys provide and that's the huge

huge benefit for such a small cost to be

in this network and make sure that you

are

maximizing these opportunities it's i

can't tell you enough right now in this

market shift in this market

the maximizing opportunities is

everything

because the opportunities are going to

get so much less and it's going to

continue and so what do you do with

those opportunities in front of you

make sure you're maximizing them and

rise gives you a great opportunity to do

that yeah so when a brand new agent

comes on um i've heard this from other

team leads and i'm sure that yours is

the same thing how fast can you put an

agent under contract and get them to

close their first deal a brand new agent

no it kind of depends on the agent of

course but we've had some we've had some

that we've had to finagle that they got

under contract before they were fully

onboarded right so they called they won

um and you've had some we've had some

that i mean honestly if an agent doesn't

get something under contract in the

first 90 days on our team we look into

it super super in depth to see what we

can do to help them because we we want

to set them up for success

but ryze is a huge part of that a lot of

our new agents get great opportunities

through the rise opportunities because

they're not

they don't have a big database yet right

like we have a pond we have

opportunities but the longer you've been

with the team you your database is more

mature

right depending on where you're at and

so getting those rise opportunities as a

new agent it's i mean they're hand

raisers right they're like hey i want to

talk to an agent about looking at a

house that's a great opportunity for a

new agent and right and so i think

that's key to getting them up for

success as long as they've taken the

onboarding classes that casey mentioned

awesome

now the fun stuff

talk to me about the shift

we are seeing and how can agents stay

relevant i know you kind of touched on a

few things but let's literally kind of

dive into that little piece

yeah so i mean number one um

inventory inventory's going up interest

rates are going up and it's the market

is more normalizing right we were so

so drastically

shifted in the in a way like we were

fortunate as real estate agents like

cove would hit and all of a sudden it

became great to be a real estate agent

right like it was insane what happened

um

but what is going to happen what i'm

preparing everybody for is the market is

going to normalize and as an example you

talked about new agents casey one of the

speeches that i give to my new agents

all the time is you guys have a

tremendous opportunity right now

because you don't know what you don't

know

and so you don't know how it was 16

months ago to sell the house

what like literally you're like oh

there's another lead let me go show them

a house right it was easy oh this house

just came on the market let's just make

sure our offer is the highest and we got

it right because it was just a such an

unnormal market now the market is

normalizing it's gonna there's gonna be

a lot of agents that don't adjust and

adapt because they're so used to doing

business how they've done it for the

last two years as a new agent you don't

know any better and so if you just

follow the processes and do what works

for other seasoned agents to help them

get to that successful level it works

for you as well you don't have to

you don't have to untrain yourself on

the bad habits you've picked up on

accident or on purpose over the last two

years of being a real estate agent so

with that being said the shift i mean

there's two things that i keep that i

tell my coaching clients and i'm telling

my team that it's going to take to win

number one is the action and the cool

thing is that we're in control a lot of

agents right now are panicked they look

at mainstream media they look at all

this oh my gosh the sky is falling right

but in reality if you actually look at

the national numbers in your local

numbers number one you need to be

educated on them to where you can

explain

over the click bait from mainstream

media to make sure that your buyers

aren't panicking so as an example

make sure that you

explained to them

work like as an example month supply is

a huge huge stat how many months

supplier in your market

how many were there six months ago

because ours like you look at mainstream

media and they're like oh my gosh all

these how the housing market's gonna

crash right we're going into we're going

into um the housing market crash just

like 08 but it's not it's completely

different

supply and demand

think about it what was our problem with

the real estate market for the last two

years

we had no supply

none and tons of demand what happened to

08

the exact opposite

right and so

just because we're going into a downturn

in the economy doesn't mean the real

estate market is going to crash

what half what caught 108 i feel like a

big difference was the real estate

market caused the economy to crash

now the real estate real estate market

is going to be an effect of the economy

slowing down

so i just put out a post yesterday it's

the deceleration doesn't mean

depreciation

so as an example it starts with

educating your clients when your home

value doesn't increase 30 over a year

that doesn't mean it's a bad real estate

market

right it's just decelerating to where

now they're i think they're projecting

around six percent in 2022 increase and

like four percent next year

and like four percent for the next three

years

like you're buying an asset that is

scheduled to appreciate

to appreciate and sorry i followed chat

there um to appreciate over the next

five years

right and so

don't don't fall into the trap of well

the sky is falling because it's not

we're we were so tilted um there's

there's going to be tremendous

opportunity for those that choose to see

this as an opportunity

but what it's going to take to win

during this shift is two things the

coolest part is they're in your control

the action that you take on a daily

basis and the skills that you build

so what action are you taking are you

getting back to you have to realize you

have to follow up with people more what

is your average contact attempt per lead

how many how many calls does it take to

reach a contact what is your home what's

your contact rate to an appointment set

appointment set to appointment met all

of your kpis are very very crucial

because if you can just move the needle

five percent on one of those kpis has a

drastic impact on your business

and also the skills that you build

so as an example

how well are you what is your skill of

educating your clients on what we just

talked about how many of your clients

come to you and say well i i think i

want to back off and slow i want to wait

and see until the dust set let's see

what happens with the market or i'm no

longer going to buy because interest

rates went up i'm no longer going to

sell because of all the stuff on the

news

like maybe that is the right decision

for them but it's your job as a real

estate professional to educate them on

the national news and your local news

you're the local expert be that resource

that can educate them on actual facts

versus click bait to see if you can work

through what's the right decision for

them because i have a gut feeling at

least in my market and i know a lot of

the markets the people that i coach if

they wait it's gonna it's never gonna

there's never gonna be a better time to

buy a home than right now

no i agree

i think

maybe this is bad uh name to put out

there but i mean i watch this thing

about dave ramsey

he he said too right the biggest thing

he says right now is the best time to

buy a house and you think about who

that's coming from

the most conservative financial guy on

the planet

says right now is the best time to buy

the house buy a house in the next five

years like that says a lot

100 percent so we're going to open it up

uh to some q and a for you i know we

only have a few more minutes with you

matt um so

i see one uh thing in the chat says matt

were you uh agent and oh wait just

curious i was not

okay and then i have amazing friend uh

steve shane out of uh florida here i

don't know if you know steve shane he's

a he's a cool dude um

your kpis you track uh matt he's got to

be a cool dude with a name like steve

shane right

so kp i track everything so i track

number of leads average contact tent per

lead um contact rate how much how many

contacts equal an appointment how many

appointments set versus met met versus

signed signed versus under contract

under contract versus closed how many of

them came from which lead source how

many of them came from our isas we track

absolutely everything we can because

what i've found and this is from my

coach john chef like tiny hinges swing

big doors and the more you can maximize

those like as an example i went through

an exercise with some of my coaching

clients i'm like if i if i step in front

of my team tomorrow and says how am i

i'm gonna we're gonna double our

business next year

everybody's like how are you gonna do

that

like i've done that before right from

from the stage being like i'm gonna

double my business and just pure

motivation no no facts no data just hey

we're going to do it right we're just

going to push through and persevere but

i actually broke down an exercise and

the biggest percentage increase that i

had on any metric that we tracked was

five percent

can you increase the number of leads by

five percent year over year is that

something that's doable of course it is

can you increase the number of

appointments set versus met by three

percent

that doesn't sound significant but if

you set 500 appointments on a large team

you set 500 appointments three percent's

a big number now you're meeting with

three percent more and then say it's

four percent more of those are getting

signed

two percent more of those are under

contract and you close five percent like

those little percentages on all those

metrics make a huge huge impact on your

business at the end of the year

and i think it's tightening things up

like that and knowing your numbers and

knowing your business is what's going to

help you not only survive but thrive in

this changing market

i like this next question from megan um

what systems do you use to track all

this data so our uh crm we use fallout

boss um

and so that that's very helpful for us

but we also use csu

um so it it and what what's cool about

it is

most things are only done once in the

crm

and when it's done the crm it updates

all these other systems so the agent

doesn't have to go in i don't have to

worry about chasing the agents down to

update their stuff are they perfect no

but it doesn't our rule is if it's not

in the crm it doesn't happen and their

work number is through our crm so that

they can have vacation and family time

and not have to worry about that and we

track everything through there so it's

just we can and ultimately whenever they

make their calls and their texts and

whatever it is they're doing in their

crm

now i can actually coach them from a

knowledgeable standpoint because i know

what they have done and the result they

have or have not gotten and so i can

help them improve their business

absolutely

um you guys i got a couple more minutes

for matt do you guys have any more

questions

this guy is the man so if you guys have

anything please uh

ask any questions feel free to unmute

yourself

um while we're doing that matt um

go ahead how if someone wants to get in

touch with you as well what's the best

way to do so would it be email

i'm gonna drop no it's on

email um

uh so i'm going to drop a link here in

the chat um it's a link tree to my my

all or nothing real estate brand um and

it's just got anything um like i just

did a webinar on how to how to thrive in

a market shift it's all free sign up go

for it

i do a podcast all that's on there

if you really want to get in contact

with me the facebook private group which

is a link there um sign up there um it's

private group so you get more exclusive

one-on-one with me i kind of i kept it

private so i can monitor i have the

right people in there i want it to be a

community of contribution we're all

working through this together i feel

like the real estate industry sometimes

gets cutthroat i don't like it

and so i can monitor it and make sure

that everybody in there is contributing

and helping each other

i also am open for coaching

opportunities i've got three spots

available right now i just opened up

three more spots if you guys are

interested in having a free discovery

call to see if i'd be a good fit for a

coach

you can sign up for the coaching

opportunities there in that link

and if nothing else just join that

movement

it's free i give back to just give

information and help help real estate

agents succeed

jillian another rock star i have right

here what lead sources are you

implemented during this shift

um so we i'm a big big believer in

trying everything and trying and

tracking

um and so

but what i commit to and this is a

little different during this the shift

that the normalization that's coming um

so i'll give you two answers number one

make sure if you're trying to lead

source do your research up front

right and then give it an opportunity to

work

so as an example i see too many agents

that try lead source for 30 days and say

oh that didn't work

what online lead source works in 30 days

the average online nurture like attempt

for a lead is 18 months right somewhere

around there depending on where you are

so you gave it a 1 30 days you didn't

have a closing and you gave up

like make sure you have the budget to do

it for the time that you can actually

measure it now if it's something that

just they didn't deliver sure get rid of

it but i give i give everything 12

months i used to be six months when i

was an individual agent but when i sign

up i do my research i make sure i filter

it out first and i give it 12 months to

see if it's going to work and i again i

track everything to see what the roi is

on that another thing if you run a team

a cool thing too is to

you can see if you if you track things

properly

you can see which agents were better

performing on certain lead sources

and then you can give them more of those

opportunities so they are more

successful there and the other agents

are more successful in their resources

so it just depends every lead source

every market is different

i i recommend using what works for you

now for the market shift what we are

doing is we are doubling down on the

stuff that doesn't cost us as much money

what i mean by that is all of us on if

you've been in real estate for more than

more than three months you've probably

got a past client or two

what are you doing to stay in front of

them what are you doing to educate

educate them what are you doing to

provide value to them so that they can

be a lead generation source for you

do you think how many of your past

clients do you think would love to know

about what the what their equity is in

their home during this crazy real estate

market when we're seeing all this

craziness on the news when's the last

time you did a pop by just hey just

wanted to give you this one cheater on

what your home was worth

it's an investment as important as a

home i just thought it might be

important for you to know

that's a value add that will get get

your referral business which is free

business

oh thank you so much matt i know our

times at 8 30. i don't know if you can

answer this one question if you gotta go

you gotta go uh when you were a new

agent what was your daily focus

work

so um

most people most people and now we track

yeah work ethic was if that's that was

my superpower work ethic i just

outworked everybody um as an example

where i was at

wherever i came in

i came in i was licensed in 2013 was my

first year in real estate um and so in

2013 in my market we just come our main

market was right is right outside a

military base and we had a military boom

and everybody's belly was full similar

to right now

right every real estate agents have

their best year over the last two years

you should have

um if you didn't there's a different

conversation have but it's been easy

right and so everybody was that way and

so it's shifted similar to what it's

doing now a different type of shift but

similar and so nobody wanted to work

they'd already made more money and

they're like well i'll just wait for

that that low-hanging fruit to come in

and so i took duty every day

six days a week for the first six months

i'm duty in that office was 10 hours a

day

i had to do my showings either before or

after you know like i i just i just

outworked everybody and i was willing to

do what it took and i'm a very

self-aware person and so one of the

things that i think we can all do better

as as people and especially as real

estate agents in the skill building

maximizing opportunity space is

reflect after a phone call reflect after

a buyer appointment what could you have

done differently or better to have a

better result or better impact on that

person

because a lot of people just focus on

the the numbers and they just want to

call more people call more people which

is great action's going to win but

action without skill doesn't work

it's not about it's not about the number

of people you've caused about the

quality

so make sure you're focusing on the

quality thank you so much for listening

to another episode of all or nothing in

real estate if you found anything this

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a passion project of mine this business

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a real estate coach with chet black

select coaching so if you are interested

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