Episode Transcript
[00:00:00] Speaker A: Hey, everybody. Welcome to Ed and Ken's mini podcast. Today's Tuesday. That means that you're getting a weekly dose of us two knuckleheads, and we have some exciting stuff to talk about today. I'm really. I. I was remiss that I wasn't in Miami for exp Con. I'm sure that there was a lot of takeaways, and I want to start there. But first, how about. Ed Fordyce, Welcome. Good to see you, my man. We missed last week. I was very disappointed.
[00:00:31] Speaker B: I know, dude. I missed you. And look, I. I wore my lucky shirt today.
[00:00:35] Speaker A: There we go. I like that.
[00:00:36] Speaker B: Wore my lucky shirt today.
[00:00:38] Speaker A: Luckiest guy I know.
[00:00:41] Speaker B: Some days, that's it.
[00:00:45] Speaker A: Even when he gets his car toed, he still shows up to work on time. Right?
[00:00:49] Speaker B: What's the new meaning I could give to that dude? It's just. God, helping me build more emotional muscle. Part of the journey. How do I navigate around this?
[00:01:00] Speaker A: So let me ask.
So. So for those. Ed had his car towed last night. We're not going to get into all the details, but how mad were you? Like, were you like, okay, I'm Ed. I'm in control. Ed. I'm in control of my emotions, or did you fly off the handle? I got to know, like, what was Ed like in that moment?
[00:01:17] Speaker B: Externally or internally?
[00:01:19] Speaker A: Externally.
[00:01:21] Speaker B: Externally, I was calm as a cucumber. All right, let me read the sign. Is there a towing company there?
Is my car stolen?
What credit cards do I need to cancel?
What is the first step? Wait a minute. Am I dreaming? Am I dreaming right now? Hold on.
But, you know, internally, it was just like.
Like, wait, I have to travel to PA Next week. My license. Oh, I have my passport. Like, going through all that checklist.
But here we are. I've got my phone, all my credit cards on my phone, so. All right, okay.
[00:02:02] Speaker A: It's funny how in the moment, though, man, like, all of a sudden, we go right to the worst case scenarios, and sometimes it just works out. I had a late transaction this week with an association, a homeowner's association that was not cooperative. The information we were getting from them was seemingly very detrimental to the transaction.
And I did. I actually. Believe it or not, Ken Jordan, I actually lost my temper, and it ended up all working out. It ended up all working out. We got the loan approved, and I got another buyer coming in, buying in the exact same association at the end of this month. So I had two transactions riding on this.
And sometimes when the. When the circumstances get heightened, you really do Gotta remind yourself it's all gonna work out. It's all gonna work out.
[00:02:50] Speaker B: Yeah. And you know what? And we could go. We'll. We'll do a topic on anger.
And everyone says anger is a bad thing. When used properly, anger can be a pretty good tool to have.
It's the internal anger that causes us the problem.
But, you know, in all honesty, that's like, all right. What I said to myself was, all right, this is happening. Number one, this is happening. My car is somewhere there's somebody stole it or it got towed. Let me get to that truth and then go from there. And then the reality is, man, like, yeah, this sucks. What an inconvenience for poor Eddie Fordyce in. In Sarasota, Florida, you know, And I thought of Jamaica.
Yeah, Jamaica. And then I thought, I know it's cost me $433. I hope this money goes to somebody who really needs it.
You know, friends.
[00:03:44] Speaker A: We have a friend whose family is in Jamaica. And so prayers for. For Tasha and Marcus and their family. I hope they're. They're. They're okay. And, you know, they're not going to deal with possible, you know, ramifications of this, but we'll just say a prayer for them. But, yeah, you're right. And then. And so you go from the.
[00:04:02] Speaker B: The.
[00:04:02] Speaker A: To the. To the true reality of how. How bad is it really?
All that takes a lot of practice, man. It's a good thing.
[00:04:09] Speaker B: You're. You're. You're.
[00:04:10] Speaker A: You're a 33rd degree ninja on that stuff.
So let's get into Miami, man. How was it? How was Miami? What were your. What were your takeaways from. From your convention?
[00:04:22] Speaker B: My first takeaway was, man, these people on the east coast of Florida aren't as nice as the people on the west coast of Florida, but. All right, I still got my Philly. I still got my Delco in me. I can ro.
So here's the deal. I'll just roll through some of the.
The highlights, and I highly recommend every single agent.
This is one thing that agents just have to budget for and make sure that it's not a. It's not even an option.
Make one national slash international event, real estate event a year.
Doesn't matter if it's expcon, a KW event, a Tom Ferry event, a Berkshire Hathaway event, Doesn't matter.
Cold banker event. Whatever it is, get to it, get away for two or three days, meet people, learn some new strategies, learn some new technologies. But with that, there's a couple things and this was a different experience for me because it's not like I walked away with like, oh, my God, I've got this list of AI tools or this new technology.
It was about positioning ourselves.
Number one, make the decision right now to own the market.
I just pulled up and because it's public, I just pulled up Mike Cianci's numbers.
He's a single agent in Westchester, Pennsylvania. In the last 12 months, as a single agent, Mike Cianci has closed $77 million.
[00:06:10] Speaker A: Listen, that is. You cannot gloss over that. I mean, I've met Mike. He is. He is.
You think he's some sign of some. Some sort of a, like, crazy genius to be able to pull that off? He's a regular dude, obviously very smart.
[00:06:28] Speaker B: I'm not.
[00:06:28] Speaker A: You know, you have to be.
[00:06:30] Speaker B: But.
[00:06:30] Speaker A: But that. Those are astounding numbers.
[00:06:34] Speaker B: Yeah, I mean, there's, you know, he's.
And he is a true single agent. He doesn't have showing specialists. He doesn't have buyer's agents. It's him an assistant and his. A marketing guy. So I. I don't want to hear about the market. Own the market.
Doesn't matter what the news says. Good, bad, and different. Buyer's market, seller's market, blah, blah, doesn't matter. Find a way. That hippopot, that rhinoceros attitude just charged the storm.
Own your momentum.
[00:07:08] Speaker A: Back to that. Charge the storm in a few minutes, too. Yes.
[00:07:11] Speaker B: Own your momentum.
Ruthless execution.
Hey, I did this. I updated, I cleaned up, I added. Great.
How many pendings do you have in the next 30, 60, 90 days?
That's the only execution that matters.
Here's the big one. Are you playing to win or not to lose?
[00:07:37] Speaker A: So how much? What, what do you remember who brought that up in their conversation this week?
And why?
Let me ask you why.
Why is that important now more than ever?
[00:07:54] Speaker B: Because we got to cut the tether, man. We got to cut the tether. We have to be able to. My. My message lately is go to failure.
Go to failure. When you go to failure, you know you've won.
And in the physical world, that means when you're working out, you can't get that next rep.
It means you literally almost fall down and pass out from running.
In the.
In the business world, it is.
Am I going to call, like, somebody did Chris Heller, who was the president of a national, the biggest real estate company in the world, to say, hey, Chris, this is so and so wondering if you're open to having a conversation about joining our company. I would love to Partner with you.
He's one of the most influential names in real estate. Nobody called him to recruit him.
Two people did. And he joined the one that's playing to win. Play to win. Go for the home run. Go for the bomb single. Single. Single, Single, single, single. Grand slam.
[00:09:10] Speaker A: Speaking of home runs, how about 18 inning walk off home run for. For the Dodgers list?
[00:09:16] Speaker B: I love that dude. Yeah, What a story.
[00:09:19] Speaker A: So I love your analogy on go to failure because I do think that a lot of people leave something in the tank. And I think when you leave something in the tank that's playing not to lose, you're trying to hold on to something for. For the next week, for the next day, for the next opportunity. Instead of giving everything you have to today, to this opportunity, to what you have in front of you.
[00:09:40] Speaker B: Lee work.
[00:09:41] Speaker A: Go to failure. I'm going to write that one down. That's a good one.
[00:09:45] Speaker B: Yep. These are all sayings, but they, they're gonna stick with someone. This one hit me really hard.
Create a dream that everyone can fit in.
Create a dream that everyone can fit in.
[00:10:04] Speaker A: Everyone, everyone.
[00:10:06] Speaker B: So what that looks like is I will have my rhinos.
Not everyone's a rhino, dude.
[00:10:15] Speaker A: Right.
[00:10:15] Speaker B: And it doesn't make them bad.
But I want my dream to be big enough that I can put part time single parents into my dream to help them pay their mortgage, pay their car payment, pay their child's tuition.
I want the person that literally, like, just got out of jail or rehab to give them a chance.
Right? Like, that's when I think about that, I think of, yeah, I'm going to have my core rhinos, man, that are.
They're us. They're nuts. They get up in the morning and run straight into a wall and go, oh, crap. Like, all right, I, I need to look for what direction I'm going here. Ready, fire, aim. Ready, fire, aim. People. But I want to create it big enough for the people. By the way, this is the difference that everyone can fit in. And I love that question.
Everybody can fit in our dream, Ken, if they are in a pit and they have their hand up to be pulled out of the pit, not their hand up to pull people down into the pit.
[00:11:24] Speaker A: Yep. It's a great analogy.
[00:11:27] Speaker B: Yes.
Gene Frederick, he's like one of those. He's probably the most influential.
By influential, I mean he is around 70,000 agents in his cloud based brokerage.
You can.
It's crazy. His message, focus on leads.
How do I get a lead today? How do I get a lead this hour? How do I get a lead this week.
[00:12:10] Speaker A: The amount of time that people spend on business, they've already written unnecessarily and they do it with under the guise of, well, these are my. I'm taking care of my current customers. And I get it. Like, I'm not trying to. You know, I'm not asking you to ignore people, especially people that are in a contract. You're in the middle of a contract. Like, we all understand what it takes to get a transaction from signature to closing, but we rationalize the amount of time we spend on those transactions to prevent us from having to do the hard work of actually generating a new one. And it is so comfortable. It's so comfortable to wake up and see you got 10 loans in the pipeline, 15 list. That's 15 buyers I could call today. That's 15 buyer agents I could call today. That's fifteen listing agents I can call today. All of it's important.
But we overvalue the amount of time that we spend on that task because it's comfortable. And I challenge anyone to argue that point. There are people that hold themselves back because they spent too much time on the work they already did and not enough time going out there and finding new business, focusing on the leads is huge, no doubt.
[00:13:25] Speaker B: And then what I took away from Leo Pareja, who's the CEO, the three biggest problems right now for real estate agents and even brokers and owners is, number one, they have no retirement.
They have become very rich.
I said this on our team call this morning, but what rich means is you're making a lot of money, but you're just broke at a different level, Right? You've got the three homes, the four cars, the private schools, the blah, blah, blah, blah, blah. But you're just broke at a different level.
So how do we. What do we do with that? So we have to create with the first question that I'll ask top producing agents that come to me. Take a guess what the. The first question I asked them as it relates to money in business.
[00:14:26] Speaker A: Do you have a P and L?
[00:14:30] Speaker B: How much do you owe the irs?
[00:14:32] Speaker A: Wow.
And I'm assuming the answer is usually more than zero.
[00:14:42] Speaker B: With a little over 40% deer in the headlights, like, oh, so how do we. How do we combat that?
You know what I'm telling agents, and I don't care if it's buying homes, investing in other businesses, 10 years from now, that agent's gonna wake up who makes 200, 300, 400, 500, $700,000 a year, whose expenses are 300, 400 or are 50,000 more than what they're earning and they're going to have to sell the same hundred homes again.
So you know my thing, thank God I'm in a revenue share company, right? That, that is, that's retirement, man. With kw, it was my profit share.
You know, that's not effective like it used to be. But still that is going to. Here's my legacy from my days at kw.kw for a long time will pay for my family's family vacation every year long after I'm gone.
That's pretty cool.
So no retirement, no Passover revenue share stream set up number two.
This is the simplest one. That's the biggest problem. Lizard brain.
We're playing it safe.
Is there anybody out there to get. Okay, well if I just stay here. No, no, no, no. I don't, I don't, I don't. I'm fine doing 3 million a year or like just as bad.
It's always been this way.
I don't have to learn anything new.
Frightening.
And then the third biggest problem are certain companies, specifically franchise owners that are.
[00:16:58] Speaker A: Stuck.
[00:17:00] Speaker B: They'Re stuck in a non profitable model.
They can't move right, they can't move left.
[00:17:08] Speaker A: And it's similar in the mortgage business. I mean we have companies that are very large but they're, they're in what we call the margin model.
And when you're in the margin model, you know, your expenses are incredibly high and they have no choice but to increase margins, that is the interest rate in order to pay for the expenses of real estate, mid level management, all of those things.
The flatter organizations are winning right now in the, in the mortgage business. The flatter organizations, people who are paying more attention to their expenses are winning right now. And the ones that aren't, the ones who are stuck in legacy expenses, God forbid, legacy expenses where they just can't get out of it. Tech contracts that they, that they thought were going to be the next best thing in 2023. Not realizing that 2025 is going to change the game for technology.
Those companies are absolutely struggling right now.
[00:18:07] Speaker B: And I'll tell you, and it comes down to as individual agents, I believe for 87 to 93% of the people you and I come in contact with and I would love your feedback on this. And then we'll Skip to the November 10 event.
Do you believe that 87 to 93% of the human beings, the real estate agents that we come in contact with would be thrilled to death to just be able to earn between 165 grand and 275 grand a year.
[00:18:44] Speaker A: No, absolutely 97%.
I think I'll go. I'll go so far as to say 75% of the agents would be thrilled to death to do $80,000 a year.
[00:18:57] Speaker B: We're gonna. We're gonna show them that on November 10th, dude. And it's. It's no joke. It's no hype. It's no. It's really simple, simple, simple stuff.
But the thing that. That they need is they need to be authentically led.
And I will put a pitch in there. Like, when you go to. I. I was four rows back from the stage, and I watched the founder and the CEO get to the event an hour ahead of time and just stood in front of the stage. They must have had a thousand, twelve hundred interactions.
And my first thought was, oh, I want to go get a picture with Glenn. I want to go get a picture with Leo so I can post it on social media. And I went, no, I want to study these guys.
I want to. Gotcha moment. I want to go, oh, they ignored that one. Oh, they snubbed that one. Oh, they're too important.
They just stood there for an hour having conversation after conversation. That's the type of human being you want leading you and your tribe and your people.
Leadership is huge right now. Huge.
[00:20:15] Speaker A: Well, I'll say this on the.
Anyone who hasn't been to an Ed Fordyce event, if you haven't been, you're going to see what authentic leadership is. And that's why I don't look at Ed as a. I don't look at you as a coach, although I know that is the kind of. The space or whatever, it's really like individual leadership. And you're not just leading. You're not just authentically leading. I think that what people get out of these events with you is the. They learn the techniques to lead themselves, and they become a leader. And that's what's important. If you're a real estate agent, you need to know how to first lead yourself. Then you need to know how to lead your clients, and you need to know how to lead your family. You become a leader, then you need to know how to lead your community.
And these events are not sales techniques. These are not sales tactics. These are skills that help you become a leader, starting with yourself.
[00:21:14] Speaker B: Yeah, and you know what? I'm. As I'm listening to you, I'm smiling, thinking, you know, part of my.
Part of me evolving was really. And we may even go over some of these tactics and strategies at this event is getting to know who I really am and why I need people like you in my life.
People like my mentors, my coaches. Because this is. I was at a spoke at a, on a panel years ago about leadership and recruiting mega agents and, and the three guys before me were really smart and they went over all their systems and when it got to me, they asked me like, hey, Ed, how did you recruit, like the number one agent in your county? How did you recruit the number three agent? How did you go from 100 million to almost a billion in production in five years? And I, and I just said this and it's very authentic. I said, these guys are way smarter than me. Guys and girls way smarter than me.
But there's one thing that they can't do, no leader in any industry can do. And I firmly believe this in my heart.
And it's a detriment to my p. L. But it's okay.
You can't out love me.
It's impossible.
It cannot be done.
It's just, it's just my gift. You can't do it.
I care more about human beings and the people behind them. So when I recruit an agent, yeah, I think of her, the mom, I think of her husband. That's why most time I'll say, I want to meet your husband before you say yes to me. I want him, another man to look at. The man who's going to be working with one on one with his wife, who's going to be supporting their children. I look right through it and I'm like, this is a huge responsibility, man. And I will, I will say that when you really dig into your personal brand, now I know, and I admittedly cry when a new wawa opens in the neighborhood. I'm very emotional. But if it doesn't get you to that line of emotion where it's like, oh my God, this is who I am.
This is who I am.
Like, no one can out love me in the leadership world. Might be able to out talk me. You might be able to out script me. You might be able to outsell me, you might be able to out recruit me.
But at the end of the day, man, there is no tribe that will ever feel more loved than my tribe. Now, that doesn't mean that I don't train you, hold you accountable, push you.
[00:24:02] Speaker A: Absolutely.
[00:24:04] Speaker B: I will always see you better than you see yourself.
So let's get up, let's go. It's time. Let's go.
[00:24:11] Speaker A: This event's gonna be Everything. It's gonna be November 11th from 1 to 3.
And it is. Where is it at?
[00:24:17] Speaker B: It's in November 10th.
[00:24:20] Speaker A: November 10th. What did I say?
[00:24:22] Speaker B: The 11th.
[00:24:23] Speaker A: November 10th.
And it's going to be 360 Lancaster Avenue.
It's gonna be great. We'll make sure that the link is in the show notes. Remember, we were going to start saying show notes because that's what hip podcasters say and everyone is welcome. It's going to fill up. It's going to fill up. So don't, don't not register hoping you'll just show up that day because it will be a packed house and I'm really looking forward to it. I can't wait. The last one we did together was awesome, and this one's not going to be any different.
[00:24:55] Speaker B: So this is. This is an experience real quick. Yeah, there's. It's going to be a training, but it's going to be an experience where you'll walk away with a 90 day unique GPS business plan that will deliver. Here it is, Predictable results for you. You'll learn how to operate in your unique genius zone. This is the big thing I'm working on. Uncover your own strategic internal alignment.
Who. Imagine waking up every day and not being stressed because you're. You're in your strength zone, man.
And learning how to create and market the seven strategic partners.
[00:25:34] Speaker A: That's a great one. We've covered. We've covered that in the blueprint in previous issues. Oh, of course. There's going to be a blueprint there for everybody. I can't wait. It hasn't. I haven't received it yet. I'm expecting it any day. I'm excited. I don't. I get as excited as everybody else. I want to rip it open and see what's in it. So. So, you guys, it's going to be a special treat. I can't wait to see everybody there. Ed, as always, man, this was awesome. Enjoy your week.
And I'm sorry about the parking ticket, but it's going to get better.
[00:26:03] Speaker B: It's all good, man.
[00:26:05] Speaker A: All right, brother, be good.
