When you do make a referral so that person you're referring to, to has some kind of a Groundworks and to work from and in building that business opportunity, and I believe that you said that. The other thing about in was that she had actually sent signals or kept your agent won, in one case kept your agent involved in every step of the way. So it wasn't just in serving the referral well, but it was keeping your agent and the referral that she had made totally abreast of the situation. And that's
we're either taking notes or have a better memory or discussion. But yes, you're correct. The book in both cases, the referring agent was kept involved. I was referring agent one and Jessica was referring agent one of my agents in the desert was referring agent on the other and we both sent out referrals to other places before not in our group but other places. And both been disappointed and they got the the transactions got handled paper money. These were these were handled really well quickly. professionally. I there's just not enough adjectives. This was awesome. This was awesome. And I really want to thank you because quite frankly, I needed the money to you know.
Well, it's always nice when referral works out that way. And I think more often than not, because our group it has Kelly had shared with me I think a referral that Rick bronchus had made to her. That was a very positive experience all the way around. Is that the case work?
Yeah, reverse. She sent a buyer to us. Triple A buyer and super coachable we are will find my place and close within about maybe 45 or 60 days. So yeah, the super smooth and I've done numerous referrals with five or 10 people. I think Joe Dewar and I have done some referrals back and forth Paul boo da, a number of era members. So yeah, it's, as Harry said, You're right, this is the first place to go. You know these people you can say, Hey, I know this person. I've had dinner with this person, and it just makes the pass off a lot easier. Yeah,
thank you, Rick. And I think another thing that goes along hand in hand with this is that the members that are members also are well connected across the country. And so if any of us if any of you I'm not practicing any longer but if any of you have a referral to make in an area that you don't know someone, maybe just check in, call one of our other members and say, Hey, I've got somebody that is moving to Des Moines, Iowa or wherever across the country. Do you know anybody there? That's a pretty safe bet that you're going to find the same kind of relationship as we're talking about from one of our members to another one of our members, I think, so I'm just going to encourage you to do that. I hope that we will have a member or a kind of a member spotlight going forward and each of our monthly calls and ask anybody that has had a referral to be able to discuss that and just share that with the rest of our membership. I think it's be a healthy thing to do, and it will show some of the business. We've we're transacting amongst ourselves and building business amongst ourselves. One of the reasons I'm really excited about jopa tags in addition to the group is that Joe is as you may remember from an earlier call this past year, member of another National Real Estate Organization, and while I know some of you had been trying to get to that Joe said, the most coveted position within that organization is the residential real estate broker relationships. So there weren't a lot of opportunities. However, the way that they've conducted their network has been a very strong reason that Joe is continues to be involved with them and I think you'll be able to bring that to some of our groups this morning. So again, congratulations to Joe and Sarah for anybody that has joined right after we started Jovi tag, and 70 Richards are two new leadership members as a result of devoting. So thank you again for taking time to do that. The other things that we wanted to discuss this morning, Joe, Joe Doerr, I think want to give us a little bit of an update on MBA on the planning committee that working on the NBA conference and also a mastermind that we're planning on having at the NBA conference. Joe.
Joe door I see him on the phone, Joe. You're muted.
Yeah, can you hear me okay. Can now. Yes. Excellent. I apologize. I'm on the road where we live as Paul on the call. Yes. Great. Paul. You can chime in to please and Kevin. Paul and Kevin and I had a planning call earlier this week and we're working on the final logistics on the call. We're hoping to do a pretty solid mastermind on Tuesday. Boot duty setup Wednesday, Thursday, and have some of our members helped us set up some preliminary meetings prior and really aggressively worked in networking. Paul, if you want to jump in we talked about a few other things about registration few details.
Yeah, we sure did. Joe think thanks so much. When things I want to make sure that that we give some really have some intention to with Joe being able to have your n as a member of the NBA. We're able to go in so I contact the NBA nucynta You're under Keller Williams and I said well, we have a booth and we're we're promoting at the at the MBA. They said well let's change your name then from Keller Williams to Arn. I said, Great. Let's do that. And so by doing that, then allow me then to register for the conference for $1,200 instead of 3000 or $2,800. So there's a significant savings there. Maybe they'll call the MBA, have them change the company you're with because it really didn't matter what company has with an MBA no one's gonna pull me up on the end of the roster there. Although by being though it's a line under er N has been a year end member then then you get that benefit. So it's a pretty significant savings by being able to do that to have a badge for the conference. So I wanted to share that with everyone. Reach out to the MBA, if you're going to do that and attend the conference. For those that aren't attending. I think Ray may be sending out a survey later this week like to know when you're going to be arriving and if there's any who do you know that you might build up a meeting with and whether you know somebody if you don't know somebody is who do you want to meet? Because we'll be putting together teams of three and those teams are three Sorry, guys. Sorry about that. That was the listing call. Just kidding. So Rick thinks that's funny. Terry doesn't think that's funny though. Rick says you better take that call Paul. kick you to the curb. Anyway, I got distracted by by squirrel. So. So with that, we'll have fire teams with three and a teams of three that will be able to do a meet and greet with different clients and being they'll be able to be very strategic with that. And so you know, the interesting thing by going through the MBA, having access to that didn't take me long to get access to the roster of 2900 people and it only let me have access to 1800 So I was able to get 1500 People contact information through the MBA that you know, I had no idea before no lawn care, no like what their email addresses are. Now I know what their email addresses are. So if I know that their first name last name, or I know that they're on my list, so it's it's quite remarkable, the amount of information that's available, maybe I'll have the access to that. So these are not all the people attending the conference. Although I reached out to a few people ask them when they're going to be there. They say no, I won't be there. A little marketing department won't be there. So there's a few people that we've already reached out to and being able to set up meetings at the MBA. So if we can invite them to the mastermind great, although more importantly, being able to have a set aside for 15 to 20 minute meeting and finding out what's going on in the world where their problems are at. So we can be in a solution for their problems in an understanding of how we can help not lose lose so much money on their assets because we already know they're losing money because they're going reo. Although How can we end up getting you know, making sure they're losing the less possible. So those are some of the conversations that we had around around the around the NBA. at the booth we're talking about being able to have a code of conduct if you will, with regards to we have visitors are gonna be at the booth. Do you have to take a personal call. Don't just remove yourself from the booth so there's not so some sidebars going on. So we're going to create some best practices working at the booth that will include business attire, how we're engaging different clients that would be there how represented PRN? There, we're not sitting down and we're standing up and work in as much space as though that lists how with regards to making those contacts. So Joe, what did I miss?
The only thing I didn't know you did a phenomenal job and we have the dream team set up to make this successful event. The main thing is we need a commitment within a week who's coming. Because we're going to put together the teams in the marketing plan. And then January 4, we're going to start hitting the list. We're going to start prospecting them. The first week of January heavily right up to the conference, to set up these meetings and sidebars and see what we can get set up passing badges and different items. You know, we're probably not going to do this year, we're going to ask the member to register. The E Rn is paying for the cost of the booth, which is a heavy lift. We've got the extra Bush setup. So it's a pretty easy passage. And it's a lot of heavy duty corporate sellers that we're going to try to market to
a couple of other things that the Joe has mentioned and part of the planning committee. You'll Davidson I can't see if Joel was on a call to this morning or not. But Joel Davidson, who's was single source, single source as you may.
Service like Sir,
you're muted
things still matter of fact, Bill, I've got a shout out for Joel real quick. We have a woman
that well apparently that got you to to be seen on my screen, Joel. Thank you. single a single source.
Sorry, I'm
driving service, right. Yeah, well the beauty is that Joel with service link is active actively involved in their planning process as well. So it's going to add an awful lot I think to to Joe door and the planning committee for what we're going to be doing and then Kevin Shriver is also part of that group. And Kevin, as you all know, not only his past history is history with us and now with KeyBank is got some really good great insight and going to be really making it very different. I think in terms of the connectivity that we'll be able to bring to the opportunity this year at the conference.
That's an excellent point melt and one other point on that is Paul and I are going to put the teams together and so like it'll be Kevin and a couple of brokers Milton a couple of brokers, Joel and a couple of brokers Joe's speed Dainton their jaw at NBA so you may not be able to commit to boot time but having these corporate clients talk to their peers and say these guys are great. You know, you gotta meet this broker and here's how I use them or hear how I use them. It's a totally different approach where we're, like Kevin said, one of the things we did is we talked to Kevin and asked him what was the best approach and what we established from there. We're gonna say where are your your fall? You said it perfectly probably let you say
well, yeah, yeah. So so by being able to approach your clients and understand where they're, where their soft spots where they want to improve upon, and where some of the issues that they have today. And usually, you know, you're gonna get a reflex answer from them. That that's going to be very defensive, and by being able to have further conversation, so you can really to get to the to the to the source of where we can provide value in understanding where they have issues inside their business inside their pipeline inside their communication.
Right Thank you. Thank you. Is there anything else, Joe that you want to add about the NBA at this point?
I'm really impressed. We got a lot of people on the call today. So if you're interested in joining, you can reach out to Paul there I respond to Ray. We're not going to chase you if you don't commit. We're gonna assume you're not coming. And if you get on there over the next week or so
you can text email call. One thing as your being your president in 24 I'm not
joking, you're breaking up.
So watch out for those police officers.
I know
the radar is gonna interrupt
right now. Yeah, can you hear me okay? Yeah, can you hear me?
Now we can Yeah. Okay. I
apologize. But we're gonna focus on business development. And business opportunities. Not as much
I think we have the elite realtors. I don't think I need to tell Rick breaking SAS ones in the country. I think I can learn from him on sidebars and we can get on sidebars on that but the primary focus in 2014 is going to be where's the business where car share charities what's going on. And for that boy, I got to saline assignments today I'm heading to one now. And that's saying study bloco Utah girls it's not just business. I'm going there right sizing. Edie? Let me know I was through Jim Stefan and a few others and they kept me on. So that's the power or the network to focus on 24.
Thank you. Well, is there anything any anybody else? Would like to add or ask about the NBA conference? Any of the members have any questions you'd like to ask Joe? Paul, Kevin? Joel, about the conference at this point, or any suggestions you'd like to make to them? And
yes, when and where?
Who else that.
This is Terry when in where's the conference?
February in Miami, Florida. Orlando, Florida. Orlando. Sorry, Orlando, Florida.
Well, a couple of other things. If we don't have anything else on that. Thank you, Paul and Joe for that. Couple of other things I think might be positive to speak about. The we've been also looking at lining up some speakers for the calendar for next year. And Eric Tucker has been kind enough to reach out to script Steve Scranton, and who is the chief economist for the Washington Trust Bank in in Washington in Seattle, Washington. And he's going he's agreed to speak. I'm not sure whether it will be January or February, but he will be speaking with us again in terms of kind of giving us a forecast for 2024 As far as what he sees in the economy and particularly as it relates to housing. And also Darrell I can't tell is Darrell on the call. Okay, currently Darrell is not on the call. So Darrell has mentioned a gentleman that he's had a lot of relationship with over the years. I think his name is John Wallace. And Darryl, John is a founder of IT capital company. Is it not? Joe? Joe door Joe, you're just not hearing me I guess.
I'm not sure who's speaking but it's because of
the information in front of me.
You don't have the information. Okay. Well, I think another good speaker and I think it will be somebody that will provide some business opportunity for our membership as well for our members. So hopefully once we get that we'll have that out and plenty of time to make sure that you could attend attend that call. I want to revert back to one of the things that it said earlier this morning about the referrals that Harry was gracious enough to be able to share his experience with us. But I think it is something that we want to do each call is offer people to be able to do that. And the other thing that I'd like to ask right now is I'd like to ask both Sarah and Joe a little bit on the spot, I guess but what their thoughts are about being now a new part of the leadership team and what they feel that that they can contribute to the leadership team and their willingness to be able to work with each of the members. Sarah, may I ask you to speak first, please.
I mean, I'll do whatever it takes to do and I pretty much everywhere I'm on the advisory board. I'm the chair for the five star. I can give you whatever. I can get the membership whenever it needs updates on what we receive over there. Anything I can do to help? I mean any anything to I think this year 2024 is gonna going to be the beginning of where we've been waiting to get what we need to get the market starting to dive. We're about we're about 20% below last year already. And we all have to be ready we all have to motivate each other and like I said, Whatever you guys knees on there to do. Sir,
I'd like to ask a question about five stars board. And how weird are their thoughts come from in terms of what they bring to the marketplace to the meetings because we've had some discussion amongst a membership here, that there may be other opportunities and things that they could do to make it more meaningful for the members. I mean, there's a lot of thoughts in terms of the cost, I guess of the conference that perhaps the it's a moneymaker rather than really looking at really creating the best opportunity for the individuals that attended business lies. It How open are they to listening to or how much input they get from outside or ask from outside as they're putting things together? Is it the board of directors and is there a reach from the board of directors?
Oh, the board dictates the events. But most of it comes from the CEO on how he wants to do what he wants to do. We have a new conference called Velocity. It's coming up in Nashville in March. And that's more of an intimate session then the Big Five Star event in September. So I don't know if everybody knows about it or has received anything I don't know how many people are even a member but
that velocity conference in Las Vegas already know well. Yes,
we did last year. Yes. And now it's going to be in Nashville this year.
What does what does that conference offer differently than the conference sponsor conference in September? What is it?
Yes, it's smaller, and we don't have the vendors. I honestly voted the vendors out this year. Because I think it's just a waste of time because I'm not there to meet somebody who is going to sell me perfume. I'm there to meet, you know, people who are going to actually do something not for me, but with me. Something similar to what we do meeting the actual asset manager that's going to be more beneficial to me than to go downstairs and see people who are selling perfume and I understand it offsets costs, but it just That's a waste of time for me. You know, and we want to offer the membership, a better experience and what they've been experiencing for the last couple of years
would it be valuable that to get slots and comments or suggestions?
I will. I will I will present it to the board. Yeah, absolutely. Why not?
Yeah. Okay. I just, I can't
see anything and I can't guarantee that they're gonna give you a discount to come to the or to become a member but we have enough people to present something that they might, you know, I mean, my philosophy is if you don't answer you don't get and you know, the worst that they can do is say no.
Just out of curiosity, Sara so what kind of feedback mechanism is there within five star after this most recent conference, back to the board in terms of was it a success? If it was? Why was it a very was it? It
was very successful. People loved the education that we're bringing, and I'm on the Education Committee and expanding education. So they love the speakers. What what was a negative was the the legal leak, okay, where only thing other lawyers were allowed to access that and membership actually wanted to listen to what the legal lead had to present and they wouldn't allow them and so that that's being addressed for this year as well. Yeah.
Do any of those of our members who attended have any suggestions for Sarah anything that Sarah might be able to use to take back to the committee? Well,
I think having access to the attorneys in that conversation is important. In understanding that they don't want the attorneys to be approached the same way asset managers are approached with regards to business although to be in that room to learn. There's so much experience and then to understand what the client is going through on the servicing side with with servicing the properties and what's going on the legal side, because what I found is that between what we do in the field, what the attorneys are doing in the office, what the clients are seeing where they're located. There's no There's no connection between the three, right? So there's things that we're doing on the field that the attorney firms not even familiar with, that the eviction specialist is not communicating. Because they don't have that type of interaction so that fluid communication would be really helpful. And so being in the room would be it'd be great if that'd be possible, although I don't know what the what the what the response would be with that. From fivestar. For that meeting with the attorneys.
Well, it's been addressed. Not only myself, but a few other people felt the same way. I felt, I mean, I want to learn I mean, even if it doesn't apply to my state, like you said, the knowledge is invaluable. So for them to not allow membership while to offer it in a membership based environment. And I'm paying a lot of money to be a member and then not get and not be included in it. I it just rubbed me the wrong way. Sir,
can I ask you, sir, do you do you know Tony Van Ness as part of that group?
Yes. Oh, you mean run them on the board or the legally
legally legal whenever the Yeah. So yeah, I think he's one of the top guys there. He's a good friend of mine. He used to work at Aqua together if I can help you, you know, after this meeting, if you think he can influence you know what we're trying to do? I can I can help you on that part. Okay.
I appreciate that. I mean, like I said, I think there's just so much more that can be expanded with five star, but it's, it's, it's a progression. You can't just say hey, I'm here. Let's change everything. It just doesn't work that way. So, I mean, you got to do it slowly and calculating and they're listening to ask because if they want to drive more membership, they gotta have something that's worth the money that I'm showing out to be a member.
That's really just Sarah that's not just driving membership that's actually keeping those that attend. And already there. Exactly. Continue to come back. And thank you. Thank you, Paul. And Joe, thank you for your offer. Because I think that's another vehicle that we have now to be able to, to maybe change some other things in the industry, not just for our group, but maybe that feedback can also Poppy around a little bit in terms of recognition. So just one
other thing on that well, this joke, one other thing on that is getting Sarah where you can help us in show is getting speaking engagements. It doesn't have to be Joe door property a speaking it can be any one of our member is going up there and having speak about Arn as a third party endorsement as part of the group they're a part of it but they're not they're taken assets. That's going to be one of my focuses in 24 to to leverage the talent that we have in the group to get in front of other groups.
Five stars gonna allow somebody speaking on our behalf, to the membership to become part of our group, you know, well.
It's not to promote membership. It's them speaking on an industry topic, but also on the backdrop knowing that they're part of era
different contents
perhaps there's a way of doing a couple of things with that what Joe just said me made a lot of sense. Maybe there's a way I mean, we've got we've got Tom Moon we've got Michael crime we've now got Joe door we've got I mean, there are a number of organizations, maybe there's a separate kind of a meeting some off to the side of those groups. And that might help the industry overall in terms of what's going on because the leadership of each of those groups is it's a sharp leadership team. I think in each of the groups, each of them does something differently, but just a thought something that kicked around and if any of our members have any thoughts about that, please share with Sarah, your thoughts about
what I think and of course, we have two members that two organizations that already have on a spot. NRA has their own session that they didn't promote yourself but they did a training section in us our ERP also have their section so I don't see why we are a big organization. So we can have our own section there where we can teach about areas or pick a topic that we can teach. And that way we can promote ourselves and also teach at the same time.
Thank you. I think that's a great idea. So maybe maybe you can have a conversation with Sarah about that and see if we could drive something but but there may be a way of bringing that together and being able to help distinguish some different things of what's going on and the way the industry is being looked at by each of those groups. The only thing
that's gonna require is that it not be a conflict of interest. That's all. Yeah,
I don't see how that could be a challenge.
I mean, it's it's right there. But, you know, it's not my final decision, you know? Yeah,
sure. Me, sir. Did you attend either one of those sessions that we're talking about? The one that NRPA Yes, yes. Yeah. So
they pay for this. You know, again, that's that's not my I mean, I can bring it to the board but that that is Gina that I have to speak with on that. Well,
we're gonna trust you to navigate whatever it is we make sense to make sense and then to give us some feedback, so that would be great. William, just saw a note from Aquarium asking about a dimension about a couple of speakers that we are looking at having over the course of the first part of next year. William asked a question about do we have a list of dates available for speakers? Right now? I think we have kind of a full calendar opportunity next year for speakers if you have individuals that you feel would be good to come in and speak to our group. So I would welcome any thoughts that you have, please. You could send them to me to Joe to Kelly, to Sarah to Joe per tag now to Kevin to Daryl, any of us, and we'll discuss that in our leadership team meetings. Joe, Joe batac. I'd like to ask you, Sarah had an opportunity now to share a little bit about her thoughts in terms of what she's going to be able to bring. And I'd like you to just take a minute and and share the things that were not talked about in the past about your your organization that that you remember with and some of the things that you feel, have worked really well there and maybe we can we can look at it building those into what we're doing as well as strengthen our group. Okay, thanks.
I think the organization you're talking about was is BNI which is the largest international referral network in the actually in the world. And I'd like to try to maybe use some of the best practices from that group to see how I can help everybody here trn by, by by refining that process a little bit. And the other thing that and I think I've shared this once before, but I'm going to emphasize it again. I've literally saved and I'm not kidding when I say this hundreds of 1000s of dollars with this group between between the the good feedback on on valuations, and the service has been involved on acquisitions that I didn't make, and some that I did make. You can you can lose more money on bad decisions on on stuff that you buy. So and I'll say that publicly in any in any forum, when given an opportunity. And for that matter, I'm trying to get back on the speaker panel, and I am in Orlando in March, have had some preliminary discussions with them so that you know, I'm hoping to do that. And there's some things I'm working on right now in the background. On the second fund as far as capital raised, where you know, we're gonna have more firepower to be buying stuff nationally, and hopefully it's gonna be business for everybody on this call. is pretty much at
this point, Joe, is Joe doors still on? I can't see from snot shown on my screen. But Joe, are you still there?
Yep, I'm still here.
Was there anything else on the agenda this morning? I mean, I've got another opportunity to open it up just to general membership at this point, but anything else on the agenda that that you felt that we needed to discuss? No,
I think that we've addressed it. I'd love to hear from the members what they expect in 24. And how
Yeah, that's exactly what I want to do is open it up. It's kind of a roundtable now and hear from some of the others that either spoken already but or may have not yet spoken. What would you like to see William, like I said, has asked the question about how do we bring speakers in and what dates are available for us to bring speakers and what are the things would you like to see us be able to focus on over the course of 2024?
You know, I first of all, just want to say congratulations to all the new leadership. I think we've got some great leaders that were elected and super excited about the coming year. Also wanted to reach out and say thank you. If you see behind me here, we've been the three time winner and now four time winner for the best real estate team in Las Vegas. So thanks for all of you that voted. Also, thanks. I got a couple of reach outs at the UNLV shooting kind of a you know, small crazy world that we live in. I mean Terry and I went to unlv my three kids all went there and my youngest son was on his way to class when he heard Classes were canceled because of the shooting. So just kind of a crazy world. I put something in the chat NAR in 2021 said that there were 6.2 million closings this year. The projection is that it's going to be 4.1 million, and they're projecting 4 million next year, which seems really low to me, especially in light of the Fed. What the comments were yesterday. I just wanted to kind of see if anybody had any comments or feedback on that
replay. I don't think anybody knows it until in June. We didn't seriously we I was at the NADP dinner meeting. We had an economist there and she kept saying over and over again, historically, we're going to have a crash. Because of all the historic stuff. Well, you take anything before 2008 Okay, and throw it out because it's worthless right now because all that safeguards have been put in place then are still here today. That's number one number two, you put it take anything before COVID and throw it out because COVID changed the world again. So we had multiple things changed and we're all sitting here waiting. And you know, we got to just get out and just get back to basics and start knocking on doors. I really think one of my agents recently just put out the amount of sellers. I need listings. She got 17 phone calls in two days. You know, it's just bottom line. You gotta get out there and do it. Very,
very to that point. It'd be interesting though, because everybody's different markets here. Know how many properties in 2023 sold that were pre foreclosure. So I can track the antibodies in our area. And Kevin asked me this a couple of weeks ago we looked at are 745 and three counties. So that was a big number of defaults that sold prior to them. Going to reo. And so I think that there's a great opportunity there. On Harry's point being able to door knock and drive drive that drive that narrative.
I'd say that.
I said I was the only one that raised my hand at that meeting and said I don't believe we're going to see the recession. I still don't believe it. I think in February is the the Fed brings down rates. We're going to see everybody jumping into the marketplace and if people are waiting, so I think it's going to be a big number next year. At least I'm hoping for it because I've been on the sidelines for a couple years now. And I'm ready to get back into it. You know, so I'm coming out fighting this year stand back.
I don't want to be negative. I don't want be negative but I'm a student of history. Can you tell me how many times in the history of the Federal Reserve that we've had an inverted gray curve not leading to recession?
Zero. But as I said, as I said there's been so many changes since oh eight and COVID You know we were I was talking to to Derrick Salesforce about all the money he's spending on the premium equator platforms like that. And he said to me that he was he was spending like $15,000 Between all have different things in the last year and I honestly I'm closing I'm closing up all that stuff but I'm not I get the free ones period. There's nothing you know my my areas got to drop 30 to 40% in value before I start seeing any significant amount of foreclosures. That's That's how much equity we have in our area.
Let me ask you a question. If I can interrupt if you don't have a job. Doesn't matter how much equity you have. Right? You can sell your house. That's right. There you go.
Want to make a quick comment about how nice this is to have kind of some roundabout conversation here. Started off with Rimkus thank you for starting starting this off and Harry and Joe. I think that this is a good and a healthy thing. For us to be able to do and I would encourage us to to spend more time doing this going forward. Anything else that anybody would like to add? I do have a couple of closing thoughts but anything else that anybody would like to bring up or add? The wreath is got a hand up on her on the slide zareba Do you have something that you'd like to add?
Yes, I have a question. As a fairly new member, I think it's been about six months. Do you have how would we get more involved with the group and do you have standing committees that are already formed? Because I've you know, I'm in some other organizations and I joined a committee and we do you know committee work and stuff like that. Do we have that with ers?
We do have that I wish I could tell you that it's it's met my expectations but we will be having a leadership meeting before the end of this month is everything and we will talk about the new committees that we're going to have and you are now a volunteer for any particular is there something that you would like to see us be doing?
Um, no, I just want to see what the committees are because I would love to get involved with the committee.
Consider yourself involved. Consider yourself and we will give you the opportunity certainly to select which it is you feel that you could you would be best to contribute in are the most likely most likely to contribute and we'll do that. Thank you.
Okay, thank you.
Thank you for raising that little hand. I'm not sure how you did that but caught my attention. Anybody else?
He melt I just can you hear me? Yes, this is Kevin. I want to just weigh in real quick. You know, I It's a guessing game, right? What's going to happen next year and the following year, but a few observations, just things that I think about? Yeah, you know, you have the inverted rate curve. Interesting stuff. You also have all the equity, you know, somebody a chair, maybe 30% 40% I think national average or read was in the 20% range. If you don't have a job then what do you do with your equity? From my work in the past, and even recently, what I've seen right now is you don't have a job. You have equity you call the bank, and the bank is going to put together a plan that allows you to defer payments. They have so many different programs available to keep you in your home for an extended period of time, way more than ever before. On the opposite of that. You have folks who get a foreclosure notice or they think about foreclosure, they get nervous. They missed that first payment, whatever it is. I was astounded at the amount of properties that had equity that we were selling the last time around that went to foreclosure I'm not sure how that happens. It's uneducated folks. And so you need to make sure you're brushing up on those options as well. You know, talking to folks because some of them are just plain scared and they want to quit get out before anything bad happens. I think the the end all to this is if you're in a position where a recession hits you don't have a job. What are you going to do? Well, I'm going to do everything I possibly can to stay in my house because where else am I going to go? I can't I'm not going to buy another house right? And rent is high and so I'm not going to be able to rent anything. So I'm going to stay in my house. And there's an awful lot of attorneys who perfected that process where you know, can you come up with five grand I can keep you in your house for the next three years. And you know, Matt may be able to talk a bit more about that although the he gets into that world but I remember driving through Florida and seeing billboards for that. And so all those things pulled me back to more agreeing with what Rick had shared from NAR, that the numbers are going to be lower. And so getting the focus back to beating the streets and making the calls. You know, the things that I've heard Rick talk about a ton in the past. I've heard other folks on the call talk about him, Paul, you know, having that process and if there's anybody who can testify to the value of that it's Rick frankness, who has the big award there for having that brokerage that has all those house sales and it's putting in the work and so you know, all those things said I have to agree that numbers might be down and it's back to basics. How do I get those leads? How do I create those listings?
Did you have something else you wanted to add to that? I know you're shaking your head like not no, not not not in an agreement but just recognizing Okay, Kevin, thank you. Those are great comments.
Can I ask the question? To you
to Kevin? Oh, yeah, Kevin. No, no, Joe.
You've heard of the silent second mortgages.
I'm sorry, can you say that again?
Have you heard of the silent second mortgages? No. Those are the COVID loan bonds that aren't recorded. So the equity paper that a lot of people that are seeing it 30% They're not even picking up the fact that there's a second mortgage in the back end. And that mortgage is not even recorded.
Yep. I have heard that not not what that term that's like when you know, the zombie properties came out, you know, a new term that you hadn't heard of, and then once you hear it, you're like, oh, yeah, that's what that is. And so silent. second mortgage makes sense. Yes. Yeah. A
person to follow on that. Is melody right, who was a JMac underwriter. You can find her on a lot of different channels, including YouTube. She's got some very insightful information on what's going on in that space right now.
A Joey says melody right WRI te w r
IG HT they might it might surprise a lot of people.
Everybody i Those are good comments. Kevin. Thanks for bringing that up is does everybody feel comfortable and being able to sit with a homeowner and explore that and if those concerns are shared, being able to help counsel them with that to be able to to help them stay in their home? If that's what makes sense.
It is yeah, if not, I'm always glad to get walk you guys through any of the legalities. So please reach out if I can.
Matt, any comment on flat fee? keep people in their house for three years, five years.
I mean, it depends on the bank, quite frankly. So to my knowledge, there's no national program that lets you do that. But each bank is different and some of them have that yet. Yeah. Okay.
Matt, thank you. So I that may make sense to we can talk about that maybe having some additional conversation around that because I think that's a good point. And Joe, Harry, Kevin, Rick, thank you all for bringing the
email real quick. I just put in the chat. What we use as a homeowners matrix builder to go to the door in the man if you could look at that and see if there's a that we should add or change. I know we're in California every state is different between judicial non judicial, but that's just the the form that we use. When we go to the door. We don't drop it at the door and we can deliver it to the to the occupant or we mail it if they're not there, after we take a picture of the property to then make contact with them to give them a CMA. But anyway, that's just what we give to the door. We would go to to an N od
Oh, I don't see it in the chat. It's not out there yet. out there.
It's out there. All right, here we go.
Everybody's got it now.
Yeah, thank you. Thank
you. Hey, nope. So when you quit coming to a shut up for jewel Davidson. So there's a little bit of a glitch that they had inside the the family there of closings and we had a local property that that we were pulling our hair out it was an REO and it had a challenge with it on the title in the aquatic title, issue. And sewer come right down to the closing. And then everything went dark on the platform. So I reached out to Joel because even the people having the hand on the file and in in leadership in our area had no idea what was going on every set to Joel he got it resolved and we got the deal closed when everything else was dark in their world. He got it done. So I just want to say Joe I appreciate so much. And in thank you for your support. Price. It was a sales price, like 230,000
good though. That's good. That's our price asset for some of our members. Yeah. All right. Yeah. No,
I get that. But yeah.
Thanks. Thanks for that. And, Paul, thank you for bringing that up. I mean, I do think we've got resources that are untapped. within our organization and Matt now and Joel. And, you know in have we've got appraisal, background experience to be able to reach out to Ron rocks, we've got things that I think others don't have. And I hope everybody appreciates that. And if you feel that there's somebody else that makes sense to bring in, then I would encourage you to bring them to us so that we could have that conversation with them and see if there's a great fit. I do a real
quick. So just the comments are 2024 What I like to see is I like to see everybody that's in the air in either be on a panel or moderate a panel and said Amen. Because you get caught free for the conference and you get the notoriety of leading the discussion. And so we've had the opportunity to do that last year and you know, a lot a lot of people that are on on the on the call today you know have had the benefit to do that. But I just put myself in different situations that were uncomfortable. So that way I can learn more about the people that were there and make those connections and it was really beneficial to me when I look at them, you're looking backwards. So anybody has that opportunity. We all do, you know, to contact the folks that I am and be up be on a panel and I've learned that from Rick and from some other folks too and so it's very valuable. Yeah,
I think it's great exposure to do that. And in a learning opportunity as well as a speaking opportunity and and promoting what it is that we all believe in. What Eddie did you have something that looked like?
Yeah. Yeah, I want to just to comment, Paul, just acknowledge Paul ODA, he sent me a referral for a stellar here in Miami market. So you know, you had a lot of a lot of options, and I'm really grateful that you selected me to refer your clients to and have
any options. They didn't have any options. They are going to work with you. What are you talking about? There's only one option.
All right, well, do you there's only one option, so I appreciate that. Thank you for that. Comment on the market and what brake brake brake brake brake is brought up, Rick, I agree that any our stats are probably probably going to be consistent what we're going to see with a slowdown overall in terms of number of transactions. That 4 million, 4 million transaction number seems about right. And as far as trying to predict what's going to happen I try to remind my team members that you know, we're we're in a people in properties business, it's that simple. And trying to predict what's going to happen is, is is a it's just a way to spin our wheels in our head you know all we need to be doing is connecting with people that we know like and trust and staying in touch with them and, and staying in touch with what's happening in our marketplace. And so, I just feel honored to be part of this group and have a plethora of professionals that I can count on or insight into from what they're seeing in the marketplace and and you count you as a relationship that it's near and dear to my heart. Well thank you all.
It really thanks every Harry, do you have another comment? Because one of the things
I went to a COP of a seminar I don't know 100 years ago, and the the gist of it was something like people will do what's best for their, their family. at that given moment. Our job is to be in front of them when they make those decisions when it comes to real estate. That's, that's it that's our only job. And so we need to we need to kind of focus on that and I'm not worried about REO coming to California. If it comes it comes. If it doesn't it doesn't I can't wait for getting longer. In there just isn't enough here. To to for it to make any sense to spend the money on all that other stuff. There just isn't enough. And while you say you can say you're playing the seed and getting ready, I can still attend all the conferences. I can still do all the other stuff. I can still put myself out there to clients, but I don't need to spend the kind of money that we've all spent and I'm not putting anybody down for doing it. But I am saying that it's it's it's time to take take stock I had a pretty crappy year. You know I gotta get the focus and that's that's one of the things I'm doing is I'm just putting it out.
Thanks, everybody. And I think we can we can all help with each other with that. I'm really pleased with like I said with the way that the conversation has kind of gone all across many of our membership today and hope that we'll be able to continue that I'd like to ends on time. Just being respectful of everybody's time. I want to thank again and congratulate Sarah Richards and jopa tag for being now elected to be part of our leadership team and say welcome to you and look forward to being with you in 2024. And I'd like to end by saying thank you very much Edie Blonko for the leadership that you've given the organization over the last several years, being involved this year and helping Kelly with with her mentorship with mentorship and her leadership of the organization. I think Kelly has done an outstanding job this past year. Many of the members have expressed that to me. Thank you for sharing that. I'm sorry she's not here to to hear that. But please feel free to reach out to her and thank her and I'd like to also be able to thank Paul Bouvier for his involvement with our leadership team over the last several years and Paul's just extraordinary involvement in terms of sharing thoughts and and ideas and and speakers with us. And I look forward to being part of the leadership team even though I'm not a practicing broker. I can't tell you what this group and each of you mean to me and the new members and what you are now starting to add to the group and the wreaths are raising your hand and sharing that you'd like to be involved. I think that that's wonderful. Hearing Kevin, speak this morning with the ideas that he talked about in the back and forth between he and Joe on that. We've got an awful lot that we can contribute to each other. If we stop and take a minute and think about it and are willing to pick up the phone and have a conversation as opposed to waiting for a call like this to be able to disperse some of that on. It's been a pleasure to post the call this morning. Thank you all for being part of it. Have a great rest of the week. Have a great holiday rest of the holiday season and look forward to a happy and prosperous 2024 for everyone. Thank you all.
Thank you. Thank you. Thanks Mel.
Have a great day.
Merry Christmas. Happy holidays guys. Merry Christmas. All the best.
Joe, I meant to encode you and welcome to a new presidency.
Yeah, they Joe precedenti. Yes. That's right. Hey, Merry Christmas. Happy holidays everyone.
They can have a more more great leadership. Thank you be well
