Episode Transcript
[00:00:01] Speaker A: Hey, everybody. Welcome to Ed and Ken's mini podcast. It is Christmas week, and I'm starting to sense the, the, the, the calming of one story and the brewing of another. Man, Christmas is a crazy time, man, but, but it's always, always exciting. And, and, and I, I, I'm excited to, to spend some time with you today. I know we have some great, great topics. But, uh, but are you excited first? Are you excited for Christmas?
[00:00:28] Speaker B: I'm very excited for Christmas, and I just decided that I'm going to land in Philly on the 29th and take off on the 31st.
I'm coming up in time with my children, and we go get tattoos for Christmas every year.
[00:00:45] Speaker A: Do you know what you're getting?
[00:00:47] Speaker B: I don't know yet.
[00:00:49] Speaker A: Interesting.
[00:00:50] Speaker B: Nope. I might get Princeton Mortgage tattooed across my face.
That's what I'm thinking.
[00:00:55] Speaker A: If you get a tattoo of me, just make sure it's this side because this is my good.
[00:00:59] Speaker B: You're right. You're right. Then again, I might get a, you know, a tattoo of a hoagie or a cheesesteak with mayonnaise on it and pickles or something silly like that.
[00:01:09] Speaker A: Listen, if you get a tattoo of me, it's. There's 500 bucks in it for you.
[00:01:12] Speaker B: Just so you know.
[00:01:13] Speaker A: How much?
500.
[00:01:15] Speaker B: 500, 000. All right, you guys all heard it.
[00:01:19] Speaker A: I'm cashing in.
Oh, man. So, dude, I, you had a great idea. You called me earlier. Like, listen, today is not going to be about theory. It's not going to be about abstract.
We really wanted to get into real, real numbers today. And, and I think that for the folks who have heard these numbers before, maybe this is a nice reminder. The folks that haven't heard these numbers before, these are numbers you need to know.
These are numbers you need to know. So we're going to get into. How do we, as real estate agents, as loan officers, go from whatever it is we're making?
If you want to survive in this business, you better get to a hundred thousand.
Get to a hundred thousand. It's goal number one, whether in income, whether it's as a loan officer or a real estate agent. And Ed, you hit me with some numbers I thought were pretty impressive. So why don't we start there?
Why don't we start there?
[00:02:16] Speaker B: So, as always, I caught myself.
This started brewing a few months ago where I felt like I was jumping.
AI do this video. How do you do the green screen? How do you do that? What's the marketing thing? How do you get this, the followers, the this and I won't. Wait a minute. Timeout.
There's way too many agents that are perfectly capable of earning $100,000 that aren't earning $100,000.
There's plenty of agents that are perfectly capable of earning $200,000 that have been stuck at $100,000.
And just like let that sink in for a second. Like, how remarkable. And it's always been my goal to have the biggest tribe of multiple six figure earners as agents in my tribe.
So I did a, my last coaching call, which was about an hour and a half ago.
Seasoned agent, smart person.
But we went back to what is going to deliver predictable results.
Now, what delivers predictable results is a system that we can point to that has an equation attached to it that says if you do this, this is going to be your result.
So when we started talking about like marketing, I can't say, Ken, if you do a TikTok video right, in a tutu, wearing a banana hat that gets 10,000 views, that's going to net you this much business.
It's great. It's marketing going to get more eyes on you. But it's not predictable results.
Right. So let me first erase that image in my brain of you.
[00:04:40] Speaker A: Please give everybody else a minute too.
[00:04:44] Speaker B: But here's the deal. And the most simple way we can go to is the old school 33 touch.
So what does the 33 touch mean? A 33 touch means that if you, Ken Jordan, are in my database, I'm going to reach out and touch you 33 times minimum through the year.
[00:05:08] Speaker A: 33 times a year?
[00:05:10] Speaker B: Yep. So what are those things that. Those things are calls, text messages, video, text, voice text, a newsletter, a popey, invitations to company events, parties, handwritten notes, on and on and on and on and on. We all should know that right now when they are executed, a 33 touch is executed.
What is now proven, that used to be a 15% return 15 years ago is now down to a 6% return.
[00:06:02] Speaker A: And what do you attribute that to? Just. Just out of curiosity.
[00:06:06] Speaker B: Yeah. From what the gurus are saying.
[00:06:10] Speaker A: Some.
[00:06:10] Speaker B: Of it is companies like the Z company that a consumer would go to.
They're Ed Fordyce's client in my database. I sold them a house five years ago.
They go on one of my listings on the Z Company and hit connect with agent. They think they're connecting with me.
Long story short, that number comes from being lost out there in.
[00:06:48] Speaker A: Which makes the 33 touch that much more important and that much more of a requirement Is that you stay in our world. We, our company, we have terminology that we use. Like if I were sitting here with another loan officer, Princeton Mortgage, and I said, hey, he. How many agents are you in flow with? Like that word flow means something to us. It means that that's an agent. You can pick up the phone and call out of the blue and it's not going to be awkward. It's not going to be weird. Right. It's not going to feel like a prospecting call or a sales call. It's just someone you're in flow with. And the same goes for your 33 touch group. Right. If 6% conversion rate. Right. And we're trying to get someone to $100,000 a year. Yeah. How many transactions do they need to close to get to $100,000?
[00:07:34] Speaker B: So let's talk real numbers, let's talk real areas.
So the average sale price in Chester County, Pennsylvania right now is $557,000.
Okay.
[00:07:48] Speaker A: Right.
[00:07:49] Speaker B: For an agent to put in their pocket.
Now this is assuming that it's a business person that knows numbers, knows what companies to be with, what companies not to be with.
They have to sell eight homes, which means their GCI would be $111,400 at 2 1/2% commission.
So that's going to get them to a hundred thousand dollars in net in 12.
[00:08:24] Speaker A: 12. 5. 12. 12 sides.
[00:08:27] Speaker B: Yeah. 12 sides. Yep.
[00:08:29] Speaker A: Okay. It's gonna be six and six.
[00:08:31] Speaker B: No, no, no. Eight sides.
[00:08:34] Speaker A: Eight sides.
[00:08:35] Speaker B: Eight sides.
Yep. At an average sale price of $557,000.
[00:08:41] Speaker A: Okay. So each sides gets you 100 grand.
[00:08:45] Speaker B: Yep. Now let's just, let's just pull that into reality here.
Eight sales, that's not even one a month.
Like, let's.
[00:09:02] Speaker A: It.
[00:09:02] Speaker B: It would be hard for someone not to do that if they are working a few hours a day.
Right. And the most important thing here is the. If we, if we work out. Let's look at.
I know just from doing this for a hundred years now that most people, whether they realize it or not, not all, but most have 200 people that they can identify as have met. And as you stated, the have met is somebody that if I texted them or picked up the phone call them, they would know who it was.
Right. So if we go 200 people, which is what I find to be the most people, say yeah, 200. Around 200 times 6%.
That's 12 right there. So the agent that's looking to earn a hundred thousand dollars or a little more.
The first question I'm Going to ask is how many people do you have in your have Met database?
And if we, if they're at 200, then this is, it's already done.
Then the, we have to put it in a schedule to make sure that they're executing the calls, the text, the handwritten notes, the popeyes, the invitations, the newsletters.
[00:10:41] Speaker A: One of my favorite things to teach my loan officers and the agents that I work with, people talk about phone calls, right? And everyone has this like aversion to phone calls out of the blue because it's insecurity. It boils down to insecurity. I don't want to bother them. I don't want to.
I don't have commission breath. I don't want to think I'm just calling for a paycheck. Blah, blah, blah, right? Whatever it is, whatever story you're telling yourself, it's all made up. The reality is if they're in your have Mets or if they're in your top 200, they should be people that are excited to hear from you and you're excited to talk to, right? So if you have a thousand people in your database, narrow that, don't get rid of them all, but narrow it down to 200 people. If you called, you'd be excited to talk to them too. Start there.
But when you're making those calls, we follow a simple formula at Princeton and we teach. It's a five part formula for these calls and with one rule, five steps, one rule. Step one, Disney World level enthusiasm. When you're making these calls, be enthusiastic. Get that energy level up. You're calling, you're excited to talk to them. They're going to be excited to talk to you. You're going to match that energy. Number two, find that common ground.
These are people who are probably also in your Facebook groups, right? They're probably already friends with you on Facebook. Hey, saw that your daughter graduated, Saw that you had a baby. Saw that your grandmom, you know, you know you're a grandma for the first time. Whatever.
It's Ford family occupation, recreation and dreams. Pick, pick one or two of those topics and then three is, and this is my favorite. The reason I'm calling, right? Like the reason I'm calling you to invite this, to this, invite you to this cool event. I'm calling you because I'm getting ready to send out a mailer. I want to make sure I still have your address. I'm calling you because whatever it is, then you have to have a reason to call. Just don't Lead with it. And then, last but not least, we use a small promise and a small commitment. I'm gonna do this. Can you do that?
And the most important thing about these Ford calls, and this is where most agents go wrong. Loan officers, too.
Five minutes. They cannot be longer than five minutes. Now, if you want to set up a time to talk to somebody, you want to set up a lunch, you want to have a half hour, hour long conversation, by all means, that's great, and you should do that. But when you're making these calls, I find five minutes. Because if you have a habit of taking 20 minutes of someone's time every time their phone rings, they're going to stop taking your call.
Everybody's got five minutes. Nobody's got 20 minutes to kill. Not in this day and age. Yeah, so that's one of my favorite. You're telling these 33 touches of those 33 touches, probably four of them, at minimum, should be a phone call. Right?
This is the easiest time to do it. Right.
[00:13:25] Speaker B: This is where I get real and real. First of all, imperfect action beats perfect action.
So if I am sitting here talking to an agent and I'm saying, so one out of four of those touches should be a call, and they start sweating and shaking and throwing up, I'm going to go like, all right, we're going to need to work on this.
[00:13:46] Speaker A: We got to dial this back, right?
Go back into your childhood. We got to work through something.
[00:13:51] Speaker B: Yeah, exactly.
But if that's going to stop them completely, then my job, I always. You've probably heard this through the years. Meet people where they are.
So I'm going to take that agent. I'm going to go, all right, let time out on the phone calls.
But they have to hear your voice. And the way they hear your voice for now, until you build some confidence, is a voice text, and it's, hey, Ken, it's Ed. I was going to call you, but I know you're probably in the middle of your workday. I wanted you to listen to this call at your leisure. I wanted to give you a heads up. You said you were looking for an investment property. I think I have one for you. Give me a call back when you have a minute. Whatever the thing may be, however, the calls I just seasoned agent. He's like, what am I going to talk to people about?
I said, well, I could easily say anything, but I know you're a person of substance, so find something to talk to them about.
Is it something of value?
Is it something of, like, if you were to call me and we didn't have the relationship that we had, you would call.
I know you would call and say, hey, Ed, I know you're really into fitness. Have you heard about this new craze? It's like crossfit. It's called Hyrox. Have you seen that? And I'd be like, no, dude. Or, yeah, I saw it, man. That's really cool. I'm actually thinking about competing in it. Like, that's how. That's how you do it authentically now. Whatever way. Again, imperfect action beats no action.
The key Here is a 33 touch system that happens. You can automate it, but it has to be personalized. There's a great group text system called hit them Up. I think it's 15 bucks a month.
But, you know, there's nothing, nothing more engaging than two human beings communicating.
Right.
[00:16:09] Speaker A: And it doesn't have to be like, obviously face to face is like the best. Right. Nothing makes me happier than when, when you come up and we get together, like, we talk every week, but when we're together having breakfast or sandwich or something, that's like a thousand times better.
[00:16:26] Speaker B: No doubt.
[00:16:27] Speaker A: Right. And this is a thousand times better than a text message. Right. And a text message is a thousand times better than a junk email.
Right? Yeah. Not to say, like, yes, email still might be part of your touches, but you have to. You have to have those personalized touches, especially if they're in your top top 200. And you know what I love about you?
You are the difference between a mentor and a manual. Right. Anybody can go anywhere, go online and download a sales manual, and that sales manager is going to start at chapter one and say, here's what you need to do to succeed. Here's what you need to do to succeed. And step three and step four and all that. Like, like we just did.
But what's different about you is your ability, like you said, to go where people are, help build them, help give them the courage and build the muscles necessary to execute at a high level, which is what they're not doing right now.
[00:17:24] Speaker B: Yeah.
[00:17:24] Speaker A: And that's why the relationship you have with your. With your tribe is so important.
[00:17:30] Speaker B: Yeah. And what, what builds that. What makes calling people easier is having a track record.
So when you, when you start settling a home a month, two homes a month, three homes a month, and you're looking at the Google review saying, oh, my God, Ken Jordan was the best at, blah, blah, blah, and all of the sudden it's this thing that happens where you're like, more people need to know about this, right? I really. I know what I'm doing.
Oh, my gosh. This is cool.
Like, cool. Hey, Ken, it's Ed.
I know I'm probably a little late with this, man, but do you have somebody that's going to clean out your gutters? Because if your gutters aren't clean, a lot of weird things happen with the ice and the snow, and I don't want them falling off. Do you have a guy that does your gutters?
That's going to be a real call to a client, and that can be.
[00:18:30] Speaker A: A call to 15, 50 clients, easy.
Right? And if you have a gutter guy that you trust, you're going to start. Okay, here's what I want you to do. I want you to call this guy. Want you to call this guy.
[00:18:41] Speaker B: That's it. Hey, Ken, I know we got another snowstorm coming.
Do you have.
There's a kid I know in your neighborhood that shovels driveways, cleans off cars, like, whatever. I mean, there's a million things. Again, you could probably Google it or use chat GPT, but we call them RTCs. What's that?
[00:19:03] Speaker A: RTC. What's your RTC? That's another term you hear around our hallways a lot. What's your rtc?
[00:19:10] Speaker B: What?
[00:19:10] Speaker A: You know, how many agents are you in flow with? You know, what are your four topics?
But yeah, you're right. You just have to have a reason to call. Don't lead with it.
Right. Doozy asm.
Talk to them about their kids and all the good stuff that's happening in their world and then tell them why you're calling.
[00:19:27] Speaker B: Yeah.
[00:19:28] Speaker A: Get off the phone.
[00:19:30] Speaker B: Yeah.
Yeah.
So, but think of just if. If anybody, any agent listening to this call like it's leave 20 for the theory, leave 20 for the videos lead. Which, by the way, I want to get to something about Tampa Brie. I think you and I talked about her a lot. Tampa Brie. I'll tell you about her in a. In a bit.
Because it. It like it would. It'll open up people's minds in a way. And I found out, oh, man. Maybe I need to open my mind a little bit. But here's what everybody listening now. Delco. The average Sale price is 355Sarasota, Manatee counties.
Where did I have them? Around 4:30ish.
Believe it or not, Sarasota and Manatee county are very comparable in average sale price.
That's surprising to me. I thought Sarasota would be at least 150,000 more so that's good news for me. I live in Manatee County. However, think about this. You're a Chester county agent or an agent that has the option to sell in Chester county and probably Montgomery county is probably very close to the same average sale price to make $200,000 a year.
15 homes, 15 settlements.
I mean there's plenty of agents doing that, but something, oh my gosh, like from like.
I'm thinking of my friend Andrew Addy. He was a blue collar guy working on a, some kind of an estate as like a landscaper and like groundskeeper kind of dude. Making this is, I'm going to say 12 years ago, ish, making like 35, 40 grand a year. Nothing wrong with it. Admirable work.
He had some limiting beliefs, this and that, and through the years he got over them.
I think this year he's closing close to 20 million. Single agent, right?
That's life changing stuff, man.
And it's here for us. We just have to, number one, believe it, see it go. Wait a minute, wait a minute. We're talking 15 homes here.
It's unbelievable. And here's the system to get it done.
[00:22:11] Speaker A: And your database, yes, there's some great tools out there.
Great tools. But an Excel spreadsheet counts, right? Like that's the other talk about perfect action versus imperfect action. You know, you have to have your list. If you don't have a list, if you don't curate your list. Remember when you used to collect baseball cards, right?
And some baseball cards, they went in that hard plastic, right? Because they were, they were the most valuable ones that you had. Yeah, right. Some baseball cards, they went in the binder, right in the sleeves. They were good, but they weren't the, the crown jewels. Right. And then some baseball cards went in the shoebox. Okay. Still didn't want to get rid of them. Right. You never know, maybe one of those is going to turn into something someday.
Your list is similar to a collection of people. People, right. So if you don't have a list, you don't have anything to curate. But if you have your list now, you can say, okay, let me, let me look at this list. You should be looking at your database regularly to determine like, hey, this is someone I need to be spending more attention to.
This is someone that, that gets promoted into my top 200. Now I wouldn't go around telling people who's in your top 200, who's not.
[00:23:26] Speaker B: Yeah, but there it is.
[00:23:28] Speaker A: There you go.
I love that. Tell me about that.
[00:23:32] Speaker B: So this is what we Call our wealth chart for my recruiting group.
And the first thing we talk about is who's on your top 20.
And out of that top 20, at least five have to be influencers in a leadership position, either leading a team or leading a brokerage or.
Yeah, and, and if I look like, you know, what has been executed here is pretty cool, but this is. If I don't have this list and yeah, I have it in my phone and I have it in a spreadsheet.
This is, I, I, I'm old school. I need to grab a hold of it.
[00:24:17] Speaker A: Yeah, that, and that's okay.
[00:24:19] Speaker B: That makes it right.
[00:24:20] Speaker A: It makes it real. But if you don't have a list, that's step one. Like, if you're, if you're an accidental agent, make it $50,000 a year. First thing you have to do is get your list together. Get your list together. That's step one. Then start curating it. Our good friend Sky Michaels uses the ABC system. Your A's get this kind of attention. Your B's get this kind of attention. Your C's get this kind of attention. Right?
[00:24:43] Speaker B: Yeah.
[00:24:45] Speaker A: And I think that that's, that's, that's like the best advice you can give anybody who wants to make $100,000.
[00:24:51] Speaker B: Yeah. Let's make it simple. Let's make it predictable. And this all comes from. How do we calm our central nervous.
[00:24:59] Speaker A: System.
[00:25:02] Speaker B: Man, this is how we do it. And I get it. I don't want to slow down for anything, but when I slow down, it helps me and helps anyone get in real solution mode.
I know agents, unfortunately, literally, that I've been talking to for 15 years.
[00:25:30] Speaker A: That.
[00:25:31] Speaker B: Still don't know where their next deal is coming from.
[00:25:33] Speaker A: It's amazing.
[00:25:37] Speaker B: Like, I, I don't know. I, I, I ain't got anything for you.
We, we've been over it every year, every quarter, for 15 years.
You know, just like, you know, the ones that are like, I know if I would just stop drinking, I could be more productive. Cool. Have you stopped drinking it?
[00:25:56] Speaker A: No.
[00:25:56] Speaker B: It's like, that's why you're the one that's sitting on me.
[00:26:03] Speaker A: And there's a lot of that, man. And we talk about skill sets, mindsets, and habits, and that's why all three are important. And your habits, your morning routine, your evening routine.
A lot of talk about morning routine, right, Ed? You talk to the gurus, or as you like to say, you talk to anybody who read it. A self development book. And I'm all for it. I read them.
[00:26:23] Speaker B: I love Them and I'm.
[00:26:24] Speaker A: That's who I am right now. How to talk about morning routine. Morning not enough talk about evening routine. What's your.
I go to the gym, I eat breakfast, I read, I meditate, I make my calls, I do this. And then at 6:00, I start drinking.
Like, okay, congratulations on an awesome morning routine. What's your evening routine?
[00:26:50] Speaker B: This is to each his own. Like, whatever. We need to get this right and this right in the morning is really important. That might take you rolling out of bed, saying a quick prayer and saying, I'm so grateful for this, this, this and that. I know today's going to be an amazing day filled with miracles, man. That might be it.
Some might be longer. Leo Pareja, who is. And I'm not saying this because he's the CEO of Exposure. You know what his morning, you know what his morning ritual is?
His ritual is I wake up, I grab coffee and I start working.
[00:27:32] Speaker A: Okay.
You had that look on your face. I thought it was gonna be something.
[00:27:37] Speaker B: He's very just like, yeah, how about that for a morning ritual?
[00:27:41] Speaker A: Yeah.
[00:27:41] Speaker B: And I'm like, yeah. But what I learned from that was.
Some mornings I like to do it all. And when I do it all, it takes about a half an hour.
[00:27:56] Speaker A: Yeah.
[00:27:56] Speaker B: I have it cut down to seven minutes now, which, by the way, if anybody wants, literally I have the, the forms, I can text it to you or email it to you of what my morning ritual is with the gratitude list, with the I am statements, with the I choose to statements.
There you go.
That's it.
With, you know, what are your micro wins? What's your one goal for the day that helps you if that gets you. Oh, man, I could use that.
[00:28:29] Speaker A: You know what I love about this though, Ed, is it has the question did I hit my goal today and what were my micro wins? And you can't do that till the.
[00:28:38] Speaker B: End of the day.
[00:28:38] Speaker A: So when we talk about how important our evening routines, looking back on your day and reflecting on it, preparing, getting enough sleep, all of those things are just as important, you know, to getting to, getting ready for the next day. So this is, this is good stuff. And we're going to, we're going to lean as we head into the new year, it's going to be a lot of resolutions going on, a lot of new me, New year bullshit.
We're going to really lean in on what are the things you need, the actions you need to be taking right now.
[00:29:13] Speaker B: Yeah.
[00:29:14] Speaker A: To, to, to, to get your business going in the right direction. We're talking to loan officers, we're going to be talking to real estate agents. In fact, I know we're at minute 29, so as I always say, if you're still listening to minute 29, God bless you. And Ed's going to give you 50 bucks for being on this.
[00:29:28] Speaker B: Yes.
[00:29:28] Speaker A: Listening to minute 29.
Just kidding.
We're gonna be rolling out the 90 days of greatness to a medium sized group of individuals that want to really get dialed in and lock in for a quarter and get their year off to the right start and be surrounded by energy that matches that. So I'm excited about that. Do you want to say a few more things about what people can expect from that?
[00:29:57] Speaker B: Yeah. It's going to be a little different than years past, but I will say that 90 days to greatness is exactly what it is.
Everything will shift, everything will change in 90 days.
Your belief system, your strategies, your planning, your execution, everything.
[00:30:22] Speaker A: Awesome. I can't wait.
[00:30:23] Speaker B: Yeah, it's been, it's been my most favorite thing to do for, since 2010 going on.
[00:30:31] Speaker A: We want to get.
We want to get how many agents? Let's say we want to get 15 agents that aren't doing 100,000 right now to 100,000 this year. We want to get another 15 agents that are doing 100 that want to get to two. We want to get them to two.
And I think, I think that the.
I think there's. There's people out there that can, that can really make that happen.
[00:30:54] Speaker B: Thousand percent. Yeah. We'll get some more info out there really quick. We're going to start probably sometime mid January, I think.
Yeah, okay. Yes. It's good stuff.
[00:31:05] Speaker A: All right, Ed, well, if I don't talk to you, have a Merry Christmas and we will catch up.
[00:31:10] Speaker B: Yeah, brother, you too.
