Episode 30
Ep 29| What’s Wrong with the Housing Market? | with Lance Lambert
Learn more about how Reside can get you to #1 in your marketplace: https://residediscover.com/
Show notes
Learn more about how Reside can get you to #1 in your marketplace: https://residediscover.com/
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In this video, co-founder of Reside Platform and author of Million Dollar Agent, Nick McLean sits down with Lance Lambert.
Lance Lambert is a Cofounder and editor of ResiClub, a media & research company of the U.S. housing market. Resi Club studies the U.S. Market at a deep level. Lance is one of the nation's leading data journalists, serving as a data journalist at Bloomberg and Realtor.com and a Real Estate Editor with Fortune Magazine.
In this episode, Nick and Lance sit down to discuss the Tailwind of Low Inventory and Headwind of Deteriorate Eligibility conflicting with one another and making prices more stable. Lance also breaks down “the Churn”, which is the idea that as the market rate for mortgages rises so far above the effective rate, it creates a churn in the housing market.
Lance discusses the reason why so many individuals today don’t have mortgages and have 100% equity in their properties. Additionally, Lance and Nick discuss the increase in the average age of homeowners and first time homebuyers. Furthermore, they break down the effect that Covid had on airbnb’s and other short-term rentals, and the short term rental correction post covid. This correction includes the influx of brand new landlords, as they were faced with either selling the homes or moving into long-term rental, many of which are unprepared for this change.
Finally Lance discusses the “Tale of Two Markets”, and the lack of supply from the move-up buyers (to the bottom half of the market) and the move-up buyers' demand, which cannot be fulfilled. He also talks about how Millennials fit into this equation and the incorrect view that from 2010-2020 the housing market was so unaffordable for Millenials. Breaking down how in the last three years the market HAS become unaffordable, with the combination of mortgage rates, incomes, and prices.
This episode is JAM PACKED with housing market information, and is a MUST watch for Real Estate professionals!
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Don't forget to subscribe! - - - @reside_platform
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VIDEO CONTENTS:
00:00 Introduction
02:00 Lance Breaks Down the Current U.S. Market
06:16 What is “Churn”?
10:20 The Reason Most People Today Don’t Have A Mortgage
14:54 The Effect of AirbNb’s and Influx of New Landlords
24:02 The Tale of Two Markets & Millennials in this Market
31:40 The Wrong Information About Housing Market
36:10 Zoning Restrictions Impact on Supply
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Show Notes:
Follow Lance and Resi Club on Twitter/X;
Lance Lambert: @newslambert
Resi Club: @residentialclub
And Subscribe to Resi Club’s daily newsletter at resiclubanalytics.com
Full transcript
[00:00:00] Speaker: those both, um, they're both around teams, so I'm like, "Huh, that makes sense." We always-
[00:00:07] Speaker 2: Mm-hmm ...
[00:00:08] Speaker: team seems to be a bottleneck. Um, so I think that's a good call-out. I don't know, Hector, did anything stand out to you on these analytics?
[00:00:17] Speaker 2: I'll, I'll be totally frank. I am just seeing this PowerPoint, this wonderful thing that you put together.
[00:00:21] Speaker 2: Um-
[00:00:25] Speaker 3: And I have an updated one too.
[00:00:27] Speaker: Oh, you do? Okay.
[00:00:28] Speaker 3: Mm-hmm. Yeah, I made it for the team meeting, uh, yesterday. Let me pull it up. There it is. It's on the screen now
[00:00:46] Speaker 3: So this is what we're seeing
[00:00:54] Speaker 2: We had an 80% open rate? That's-
[00:00:57] Speaker 3: Yeah. Well,
[00:00:57] Speaker 2: yeah ... recent- recently? That's-
[00:00:59] Speaker 3: So- That's incredible ... yeah, so we had 80% on week five, and this is going back to, you know, 12 weeks.
[00:01:07] Speaker 2: Uh, well, it looks like, uh, or excuse me, week 11, if, if this chart is correct, week 11, it bounced back up to that too for-
[00:01:13] Speaker 3: Mm-hmm ... um,
[00:01:14] Speaker 2: for open rate at least.
[00:01:16] Speaker 3: Open rate.
[00:01:16] Speaker 2: Which is- Click
[00:01:17] Speaker 3: open. Yeah, click to open ...
[00:01:19] Speaker 2: which is, uh, w- is that... What, what are the differences between click to open and open rate?
[00:01:25] Speaker 3: Open is opening the email. Click to open is clicking on the podcast.
[00:01:29] Speaker 2: Clicking the link. Okay, great.
[00:01:31] Speaker 3: Mm-hmm.
[00:01:32] Speaker 2: Um, and then do we know any, that leadership, uh, is what corresponded to week five with that massive click, click rate?
[00:01:44] Speaker 3: So yeah, that's an, that's why I wanted to bring you two into it and why Nick has suggested it as well, 'cause I mean, from what this is suggesting, like, looks like, you know, advisors as bo- bottleneck pain plus Nick's framework, clear podcast. So it's like the pain and the bottleneck of like advisors seem to be what got the most clicks.
[00:02:10] Speaker 3: And,
[00:02:11] Speaker 2: and I, I'm sorry, I'm, I'm ... This, this is on me. I, what is the topic though? Is that what you, you deem as the leadership one is the, is the bottleneck? Or what have you determined is sort of the bottleneck that the-
[00:02:25] Speaker 3: Yeah, let me bring it up. It should be on the last- Yeah,
[00:02:28] Speaker: so week, yeah, week five- Sorry ... the topic was team ownership and accountability.
[00:02:32] Speaker: Mm-hmm. And week seven, which in the last Uh, week seven had a pretty good click-to-open rate. Um, week seven was R4. That's a framework, right?
[00:02:43] Speaker 2: That's the team rhythm. Okay, now I see it. Right.
[00:02:45] Speaker: In the team rhythm. Um, so here's, here's how I interpret that. So we've got, like, owner as the bottleneck, right, is actually the problem.
[00:02:56] Speaker 3: Mm-hmm.
[00:02:56] Speaker: What they're seeing is team issues. So they are opening emails or clicking on podcast links that talk about addressing team issues even though they are the bottleneck. Mm. That's true. So, like, we need to lean into that in subject lines, and we need to lean into hub-type stuff in the content, um, because we gotta do the work on the advisors, but they think it's...
[00:03:18] Speaker: What they're seeing that's most frustrating and in their face is the team issues that are a result of them being the bottleneck, is how I interpret that.
[00:03:27] Speaker 3: Right. And that's a good way to put it. You put it way better than I ever could. So... But no, that makes sense, and if we have anything that is like that in our recent podcast or, you know, what's coming up, I mean, maybe we can try to aim towards that and see, see if we get a, a good spike out of it if it brings up the click-to-open.
[00:03:52] Speaker 2: Yeah, and you know, what's nice, TJ, and, and we're sort of happy to facilitate this because it's, it's not a, a large lift, is that, you know, with this we can go in and write- Mm ... newsletters that are based in Nick's words and philosophies and beliefs and just aimed at this topic, and we can just... I mean, you, you would sort of need to be the...
[00:04:14] Speaker 2: And I think you're doing a good job- Right ... of, like, being the arbiter of taste and, you know, and brand- Mm ... and sort of stuff like that. But now that Nick's got a, a sort of a, a building vault of these transcripts, I mean, there's a, there's a ton of... And it seems like people are opening, which makes sense. You know, advisors who make something, a niche- Mm
[00:04:29] Speaker 2: that is gonna read and is gonna spend the time reading. So, um, right now we're only sending one, one, one email a week with an, uh, you know, to... And then we send it to the people who have unopened, who didn't open, right? So it's, like, one-and-a-half sends a week, which is good, and it's a good baseline. Mm-hmm. But, I mean, if you talk to, you know, most email marketers, they, uh, I think our, our, even our good friends, Danielle, Tony DiLorenzo, he talks about sending three a week as sort of his, his, his no matter what baseline.
[00:05:00] Speaker 2: Mm-hmm. Um, and then on special, you know, special times and promotions, it goes to four or five. But it's, the way that he, he runs it is it's a, a, a value-driven email. It's, um, like just kind of what we're already doing right here is just almost all exclusively value, and maybe there's a call to action in the, uh, you know, in the PS or whatever.
[00:05:23] Speaker 2: There is a, uh, a newsletter- email that's like, "Hey, here's everything that's going on," kind of like your typical sort of newsletters where you get a little blip about this and a little blip about this, and it's, it's sort of c- multi-topic, right? Mm-hmm. But it points into all the different directions. And then he has one sales-focused email, which is just a right hook that is written, it's value first, but it's pointed at a offer, right?
[00:05:53] Speaker 2: So they get one value-focused email, they get one newsletter email, which is value-ish, and then it ha- but it has links, you know? Mm-hmm. So it's sort of in between, and then he has like a straight right hook that is, again, value driven and, you know, it's, here's a, a sales email, and then at the end, "Why don't you join us on this amazing cruise that we..."
[00:06:13] Speaker 2: or whatever,
[00:06:13] Speaker 3: right?
[00:06:13] Speaker 2: Mm-hmm. It's like, uh... And so to the, to the consumer it's all, you know, uh, it feels 80/20 in terms of value to ask. But, um, that's sort of how he, like in his head when he's planning it out, he's like, "Okay, what's my value email? What's my newsletter? What, what's going on?" and keeping people, you know, askew of what's, what's coming up, and then what's the, what's the ask that's most relevant.
[00:06:39] Speaker 2: Um, and we haven't really done any asks, whether that's referral asks-
[00:06:44] Speaker 3: Right ...
[00:06:44] Speaker 2: um, direct ask, schedule, like whatever it is, right? Mm-hmm. So, um, we can look more of those into.
[00:06:52] Speaker: So I'm thinking about, um, we haven't, uh, done asks. That's been sort of like a we'll get there. We're trying to get the flywheel started or the momentum going.
[00:07:05] Speaker: Um, but I'm thinking about all of the work we're doing on my side of things as far as auditing resources and the asset library and all of that, and I think that we actually could
[00:07:22] Speaker: Um, TJ, I, I think this is more of like a bandwidth question for you. I, I think I'm- Mm-hmm ... understanding that you could do this and take this on. Um, I think we are ready to be a little more strategic, and we could add some more emails in. I don't know that we're ready for three a week. That just, like with Nick's availability for, even for sales calls, like feels, um, like it's not- Yeah, right
[00:07:45] Speaker: quite aligned timing-wise. But- Mm-hmm ... I think having some intentionality around those kinds of emails, like you're saying, Hector... Sorry, I'm like jumping thoughts. I'm in, I'm in wonder right now. Um, what I'm thinking is as we're auditing, we have a lot of resources- Right ... which will point us to content. If we start pulling from the content a couple of core pillars, um, and rotate that, those through, I think it can help inform the content that Nick is sitting down to record for episodes, and we could put a schedule in place to create that content from the coaching calls that you're auditing, TJ- Mm-hmm
[00:08:26] Speaker: um, to be able, like to have you create that content. Um, like Hector, I don't even know if you guys would need to go back through past podcasts necessarily. Like, I think I don't know. I think the way that we've been talking about, like, the real time analysis, TJ, and, like, if we put just a couple of ... I'm not saying it right.
[00:08:51] Speaker: I can see it in my mind, like sort of-
[00:08:53] Speaker 2: Can I, can I pick up, can I pick up where you're at? Yeah.
[00:08:54] Speaker: Keep
[00:08:54] Speaker 2: right. Keep right. So, so, like, like, I, I'm thinking, like, paths, right? Sort of like paths for- Mm-hmm ... based on what, what their bottleneck or their problem is, right? You know? And, and that can be it. The, the beginning of that path and the doorway to that is the lead magnet, right?
[00:09:07] Speaker 2: What the resources or whatever it is. Mm-hmm. And then what's nice is that that gets them to raise their hand, and then TJ, behind that, is sort of a, a built-in automation sequence, right? A built-in set of emails that speaks to them and nurtures them in their specific pain point, right? You have, you know, people experiencing pain point A and they're getting these emails.
[00:09:25] Speaker 2: Mm-hmm. And pain point B, they get those emails. And so people can sort of self-select themselves into the path based on what they're downloading or what they're opting into. Mm-hmm. And I'd imagine some people will be in multiple p- paths, but now you know when Nick gets on he's like, "Okay, you're having team issues.
[00:09:42] Speaker 2: You're in the team path. You're what," and so he already sort of is clued in there. And- Right ... and I'd imagine, Danielle, that there's a ton of already built-in resources that maybe they need to be repackaged, maybe they don't, that could be great sort of, uh, carrots into each of those paths. Um, and, and then w- you know, one nice thing about GoHighLevel and automation is you set it up once and then it kind of runs-
[00:10:04] Speaker 3: Right
[00:10:04] Speaker 2: you know, as they, as they go through or as they come into
[00:10:08] Speaker: the- Yeah. That can be ... Yes. Thank you. Paths, absolutely. I'm, like, drawing the map in my head to help draw the, connect the dots. Mm-hmm. Um, yes, because and essentially, like, when we zoom out, TJ, and I'm like I'm teaching you how to think in my brain-
[00:10:25] Speaker 3: Yeah, I appreciate it
[00:10:27] Speaker: when we zoom out and we think about these are all of the offers we have, and these are all of the problems that people are saying they have, we essentially need to draw that path to from every problem that is, like, s- a sticky point that is, is very compelling for people to the offer, and that's where those automations that Hector is talking about- We plug those in.
[00:10:45] Speaker: So if you clicked a link on a podcast about leadership, I mean, and we could do this at any point. We could say, "You know what? We do have this recording from a mastermind or whatever where we really dig into that." We can send an email to people who have clicked on the link from those leadership, uh, podcast issues and say, "Hey, we've got some extra stuff here."
[00:11:04] Speaker: Send them, and there's the, there's one of the drips that could be-
[00:11:07] Speaker 2: Mm-hmm.
[00:11:07] Speaker 3: Right ...
[00:11:08] Speaker: um, the email campaigns. '
[00:11:10] Speaker 2: Cause, '
[00:11:10] Speaker: cause TJ, the- And then we follow that up with a hand raiser ...
[00:11:12] Speaker 2: the way that it works is sort of in inter- internet marketing and, and, and I think any marketing, but specifically is, like, taking people from a, like, a cold state where they're just problem aware- Mm-hmm
[00:11:23] Speaker 2: and they don't know, they don't actually even care what the offer is yet. They don't, they don't care- Right ... that Nick has this amazing coaching program and he's got all these like- Mm-hmm. They don't, they don't care about that yet. It's like, first, if we can talk about their problem, then they'll go, "Okay, Nick understands me."
[00:11:38] Speaker 2: And then that's, like, the first doorway, right? You've, you've heard that, like, people don't c- care what you know until you know that you care. Right. The way that you do that at scale- Mm-hmm ... through an email is by speaking to their problem- Mm ... and going, "Hey, I know what you're going through," because either, A, I've gone through it, or in this instance, it's gonna be like, "Someone I'm working with is going through what you're going through," so it's like, "I, I understand you."
[00:11:59] Speaker 2: Now they almost don't even care who Nick is, it's just like, you have an answer to my problem, like, you have the pain reliever. Mm-hmm. Like, what is it? Okay. And then, and then now they're in a place to hear, like, okay, what's the solution, which is like Nick's frameworks or his ideas or his, you know, his d- how, how he thinks about things, which is a lot of what we talk about in his leadership.
[00:12:17] Speaker 2: So like all, all the sort of how-tos. Now they're like, "Okay, I'm ready to hear your frameworks," and listening. And, and then, and then, then you'll have a number who goes, "Oh, I, okay, these frameworks are great. I want the person who came up with them to help me implement them," or like they want it at an accelerated level.
[00:12:33] Speaker 2: But they sort of have to go through these gates first, and some people will go through all of those gates in one email because it's- Mm-hmm ... it's positioned and it's, and it's structured right because the first part creates relatability, and then the second half has their framework, and then the third half has the call to action.
[00:12:47] Speaker 2: It's like, so it can happen in an email, but it- Mm-hmm ... a lot of times it'll happen over the automation series. Mm. Okay. And, and then move a little bit further down the path from email one, and then email two gets them a little bit further, and then, you know, by the end they, they've, they trust Nick enough, they know what, what his frameworks are, and then now they're ready to, to pay for whatever the o- you know-
[00:13:09] Speaker 3: Okay
[00:13:09] Speaker 2: the service is. Um, and so that's another framework in terms of, like, pulling them down the path, um-
[00:13:14] Speaker 3: Good way to look at it. Mm-hmm. Right. Or into, like, the funnel.
[00:13:17] Speaker 2: Right.
[00:13:17] Speaker 3: Right. Is it... No How would we get that? Like, based off what we have now, what would be the next steps that we could potentially do to, like, get them into the next gate or see who needs and go through the next gate kind of di- di- So you and
[00:13:32] Speaker: I can build that, TJ.
[00:13:33] Speaker: Okay. I can give you... Like, it'll be kind of a back and forth for a little bit. I'll give you what you need to go through coaching stuff- Mm-hmm ... to pull out what we need to analyze, kind of like we talked about the other day. Like, pull da- you pull data, I'll analyze the data. Mm-hmm. Right. I'll tell you what to do, and then we can build from there.
[00:13:48] Speaker: Um, and then I'll tell you what to build. Um-
[00:13:51] Speaker 2: Okay ...
[00:13:51] Speaker: and yeah, so that'll just be us working on that for a couple of weeks, um, to, to- Yeah ... pull it, make decisions, plug it in. Mm-hmm. Um, and we'll, we'll just do one at a time. Like, what is the most, w- what do we want to sell the most of the f- you know, to close out the year?
[00:14:06] Speaker: Like, and then it's kind of like what we've done with some of the other automations. Like, once we have it, you know, nailed down, we'll duplicate it. Mm-hmm. Um, I think that feels like it changes things a little bit for LinkedIn content if we are starting to create more content, um- Like, I would wanna, like, sort of intersperse that with some of what you're creating, Hector, so I don't know what that looks like logistically on, you know, on your side or on the agreement that y'all have.
[00:14:38] Speaker: Um-
[00:14:40] Speaker 2: We're, we're creating podcast content, and we're, you know, we're, we have- we're actually uploading it through GoHighLevel. So I would imagine that, you know, w- if we just go in parallel and, and if we wanna communicate about, you know- Mm-hmm ... posting or which days or whatever it is, like, that's, that's cool.
[00:14:57] Speaker 2: But I think just having them in parallel, or if we need to scale back, you know, we're, we're doing I think four to five posts on LinkedIn, um, just to fill sort of a daily schedule. But if there is more, you know, more intentional posts, then we can- Mm-hmm ... we can scale the podcast content back.
[00:15:15] Speaker 3: Okay, and-
[00:15:16] Speaker: Yeah, so are y- Go ahead, TJ.
[00:15:18] Speaker 3: No, no, you're good. I'm just wondering, like, Hector, I did go through LinkedIn a couple days ago, and you did five posts last week or this past week, but, like, it has been kind of off and on. Like, the week before was, like, a one-week post, and then four ... two weeks ago was four, four posts, and then another one post three weeks ago.
[00:15:37] Speaker 3: Like-
[00:15:37] Speaker 2: Yeah, I think the objective is to get to a daily one.
[00:15:39] Speaker 3: Is there-
[00:15:40] Speaker 2: Yeah, that's- Okay ... sort of the standard we're trying to get to, and, and I think there's been some scheduling issues there or content,
[00:15:45] Speaker 3: whatever. Okay.
[00:15:45] Speaker 2: But, um- Yeah, yeah ... that's, that's what we have. That was what- Yeah. And we- and I think there's even a backlog we can fill, um, as well.
[00:15:52] Speaker 2: But I don't even know that, that posting daily on LinkedIn is the optimal sort of, you know, strategy anymore. Danielle might have some better thoughts on it. Um, but it, it would be nice to have some more intentional content as opposed to, to only podcast related content- Right. No, I agree with you. Yeah
[00:16:08] Speaker 2: which is, is good for a while. Mm-hmm. But, uh, you know, it can, it can go stale too.
[00:16:15] Speaker: Yeah. Yeah, I don't know that we need to be pushing five times a week. Like, I, I think it, it's almost like, TJ, in my mind it's a lit- Mm-hmm ... it's more intentional, like the paths that we, that T- Right ... that Hector, Hector just outlined.
[00:16:31] Speaker: Like- Mm-hmm ... we're thinking about, this is why when I, when like, like in our calls, I'm like, "What do we have coming up in the next couple of months? I wanna know about these conferences. I wanna know about those things," 'cause we were gonna, you know, we back up from there. Mm-hmm. Not only from a logistical standpoint or a technical standpoint of like, you need to create the automation for him to have the scannable download, but also how can we ramp up the content?
[00:16:53] Speaker: How do we plan to follow the content? So if we know he's gonna do, you know, a, um, a workshop presentation about X, Y, and Z, we can pre-plan the content with all of these value add resources that we have and schedule them for immediately after when he is, like he's at a conference, he's connecting with people on LinkedIn- Mm-hmm
[00:17:13] Speaker: and we're, we're stuffing that, sort of. Stuffing sounds like a PR, an ugly PR word, but you know, we're leaning into that type of content right after that when people are gonna start seeing his stuff in their feed. Um, so Hector, I would say
[00:17:31] Speaker 2: Maybe TJ, we, we, we like set a s- a calendar at the beginning of the month. Mm-hmm. Whether maybe it, it's a call at the beginning of it, and then otherwise it's a whatever. Mm-hmm. But, but then you can, you can sort of dictate based on sort of Danielle's plan, "Hey, let's mix in two podcast posts here 'cause we're gonna have one here," or whatever it is.
[00:17:50] Speaker 2: And, and, and to start, maybe it is even we can just do like a weekly schedule, you know, just to get sort of- Mm-hmm ... get rolling. But I think, um, just have... Like, if, if we're synced up, you're ... You seem to be on top of stuff, and so I think that if we can, uh, you know, you, you can... We're happy to defer to you in terms of what the scheduling- Okay
[00:18:09] Speaker 2: uh, cadence is. Yeah. Yeah, and I'm- Um, and then just sort of- Happy to bounce that off with you ... fill, fill that in, you know, based on- Mm-hmm ... the content that we have.
[00:18:15] Speaker: Could we use that podcasting Google Sheet that you guys already have started? Could we just expand on that a little bit?
[00:18:21] Speaker 2: Sure. I mean, I think there's, there's other tabs on...
[00:18:23] Speaker 2: I think there's other tabs on there already. But yeah- Oh, are there? ... we can just, we can just start another tab, um, or if you wanna use any of the columns, if you already wanna build then off of the episodes, I mean.
[00:18:33] Speaker: Yeah, I'm just thinking, like, that seems like an easy, like, we've got the topic, topic of the episode.
[00:18:39] Speaker: Don't y'all have a date, like the publish date in there already as a column? I'm trying to pull it up, and of course my internet is hating me. Um, so I'm going off
[00:18:48] Speaker 2: of memory, but. What, what, what, what might... And we can do that. I think just having some sort of schedule, like some sort of calendar, like a, like just a publishing calendar that's separate.
[00:18:58] Speaker 2: Mm-hmm. Because that one is based on a weekly rhythm, and so, um, whatever the decided LinkedIn rhythm is, I think if we just create another tab, we can do it there if, with TJ, or if wherever you deem. I mean, I'm, I'm not romantic about where we do that. Yeah,
[00:19:14] Speaker 3: I mean, I'm not thinking,
[00:19:14] Speaker 2: um- I mean, it could even be a, an email, um, correspondence to, to, um.
[00:19:20] Speaker 2: So yeah, I, but, but I, I'm, I'm good to just work off of whatever cadence or calendar. You say, "Hey, Hector, we need three posts on this," um, even if you wanna say, "Three posts on this topic"- Mm-hmm ... that's great, too. 'Cause part of what we've been doing is waiting, or we've been... The, the content has only been related to sort of what was posted or published that week, which is cool 'cause there's some recency to it.
[00:19:42] Speaker 2: But it's not inten- you know, it doesn't necessarily- Time sensitive ... serve the paths that we were, we're talking about, right? So, um, so maybe even it's like, "Hey, can we have two, two on leadership, two po- two leadership posts?" You know- Mm ... then, and we'll, we'll go in and grab from what all, you know, data that we have and, and such.
[00:20:01] Speaker 2: Um, and we can sort of look at it that way and s- and then- Mm-hmm ... iterate and adjust.
[00:20:07] Speaker 3: Okay. No, I like that, and I, I think that's a good way to go about it, especially if we can just try to nail down, you know, like you were saying, like the, the gates and what people need to like see to... for us to get them through the funnel, right?
[00:20:22] Speaker 3: And I understand, like, you're right, like they may not need Nick or feel like they need a Ni- a Nick right now, but you know, the more content we show them, the more we like realize-- they real- more re- the more they realize their pain points, the more they wanna be with Nick. Like, you're right, you're right.
[00:20:38] Speaker 3: It doesn't have to be Nick, right? It could be another coach. But Nick has what they ha- they want, and so it's like we wanna get them in front of Nick and eventually. So we wanna push them in that direction, but like not a hard push where they fall off the cliff and die, right? So like we wanna keep them alive, just, you know, slowly.
[00:21:00] Speaker: Not the kind of sales we're doing over here.
[00:21:04] Speaker 3: But...
[00:21:05] Speaker: Okay. Cool. So I would say from a, like this will probably take us, um... It'll probably take me a couple of days, like, like a week, um- Mm-hmm ... to plug this into my calendar to kind of get my thoughts organized, TJ, and coordinate with you. Mm-hmm. So I'd say, Hector, for...
[00:21:24] Speaker: I would say plan for like the next two weeks to just do two posts. Um, and maybe one is whatever the immediate, that, that week's podcast is, and then maybe the other one is like referencing a back episode just to mix up the, the topic a little bit. Um, and we'll just plan for that for like the next two weeks, and then I think we can have a rhythm after that.
[00:21:45] Speaker 3: And these are posts on like emails, or are they posts on LinkedIn? LinkedIn. LinkedIn, okay. Perfect. Yeah. I figured as much, but I wanted to make sure my brain was that, you know, connected with the two of you. Cool.
[00:21:57] Speaker: Hector, this is-- I know y'all meet regularly, and I'm not part of those conversations. Is there anything like zooming out strategy-wise that you need Nick to do differently when he's recording content to get ready for you?
[00:22:10] Speaker 2: Well, well, I think this like this creates a great loop in terms of, like you said at the beginning, what is Nick talking about in the, in the stuff, you know, in the actual recordings because I think a lot of it was intuitive or was just maybe even just throwing stuff at the wall. But now we've got some data, so if we can, if we can- Like, look at it from all the different angles and, like, I guess from my
[00:22:33] Speaker 2: The way that I see content is you, you have sort of this, this dice, and it's just, like, it's the same dice but you're just looking at it from all the different angles. And people are looking at the same dice, but they're seeing a different number on it. And so it's like you kind of got to create that re- relatability.
[00:22:49] Speaker 2: And so we may have talked to the people who see it like a one, but have we spoken it to the people who look at it from five? Or, or whatever it is. And so sometimes it is just rehashing the same thing from a different hook or from a different, slightly different angle. Yeah. But, but if he is talking about the stuff that, that, like, people are clicking on, then the f- you know, that loop just gets better and better.
[00:23:10] Speaker 2: Because now- Mm-hmm ... we're able to see, okay, within leadership or within, you know, these team sort of challenges, is there a particular team challenge that is highlighting itself among this as well? And then we can go deeper into there. Now we've got a whole nother dice for that. You know, we can just ... It really does become sort of this never-ending loop of content if you have, uh, data, you know, behind it.
[00:23:32] Speaker 2: Because you- Yeah ... you know, people are, are not necessarily gonna email you and go, "You know what, Nick? This is exactly what I was dealing with today, and I ..." You know? They, like, they just, they won't say that, but they'll say it with their clicks, and their- Mm-hmm ... you know, their opens.
[00:23:44] Speaker: Sometimes they say that.
[00:23:45] Speaker: Sometimes. I reply to people and say that. I've replied ... Actually, I have replied to Nick and said, "I actually needed this email today." I will say that.
[00:23:51] Speaker 2: So they may. They may. And, and, and, you know- Danielle ... but, but that is not, I don't think that's- Generally ... indicative of the, of the impact, right?
[00:24:00] Speaker: Like- That's the exception, not the rule.
[00:24:01] Speaker: Yes.
[00:24:01] Speaker 2: For sure. For sure. Yeah.
[00:24:02] Speaker: For
[00:24:02] Speaker 2: sure.
[00:24:03] Speaker: Yeah. Yeah. I'm also weird, so.
[00:24:06] Speaker 2: No, I did that to Lauren Apple the, the other day. I was like, "This is ..." And I, because I was like, "This is so good. Like, I know your AI wrote it, but your AI sounds so much like you. It's, like, fantastic."
[00:24:15] Speaker: Yeah.
[00:24:16] Speaker 2: So anyways.
[00:24:17] Speaker: Um, okay. Anything else that feels really productive for this, uh, talented group of brains together right now?
[00:24:25] Speaker 3: I don't think so. I think that's a good ... I mean, that opened up my eyes quite a bit, and I think we're, we're on the right track. And if we can meet, you know, like Hector said, beginning of a month or, like, at some point to kinda like come back to this, this would, that would be nice. Um, but in the meantime, Danielle, I saw that you were recording.
[00:24:46] Speaker 3: Can you send me the recording so I can- Mm ... make a recap of it? Okay, cool.
[00:24:49] Speaker: So I just have a voice recorder. It's only gonna be a transcript. Um- Yeah ... so I won't have you transcribed yet. That's, that's all I need. Okay. Mm-hmm.
[00:24:55] Speaker 3: Yeah.
[00:24:56] Speaker: Um, yeah. And this is, like, this, these analytics and this data we'll put in the dashboard for your regular check-ins so that we can sort of be tracking.
[00:25:06] Speaker: Um, and these are lagging indicators, um- So we're gonna track lagging and leading indicators, but, um, but I think looking at this every month and just seeing what kinds of trends we're building, and then, like, to look back all of a sudden and say we have 12 weeks worth of, you know, of data to look at is really exciting.
[00:25:26] Speaker: When we started with, you know, Nick's like, "I'm just showing up every morning for 10 minutes and recording these videos." And we're like, "Okay, well let's just start. Let's just get it started with that and see what happens." Yeah. So this is cool. Mm-hmm.
[00:25:39] Speaker 2: Certainly. Yeah.
[00:25:40] Speaker 3: How about you, Hector? How do you feel everything?
[00:25:43] Speaker 3: Feel good? Do you need anything from me?
[00:25:46] Speaker 2: Uh, no. No, not that this is like this is what happens, but it's like it is cool to see, like, you start something, and then you almost... Like, especially with Nick, he's like, "I don't know where this is going," but like, you know, and now he's, I think we're what? 50 plus episodes in almost.
[00:26:00] Speaker 2: Almost 100. Mm-hmm. So it's like-
[00:26:01] Speaker 3: Yeah ...
[00:26:02] Speaker 2: yeah, it's a cool... Like, I don- I also don't think he, he, I don't think we all understand the, the asset that, like, has been built either, you know, just because of it's gonna be there forever, and especially Nick's content is evergreen stuff. So, um, yeah, no, I'm, I'm feeling good, and I'm glad that we're, we're dialing in, you know, all the other parts of it.
[00:26:24] Speaker: Hey, Hector, I know we have some episodes where there's compliance, and I don't understand any of that, and I'm just gonna leave that over there for another- ... conversation. Question for you, though. If we don't have compliance, if it's not a guest, I guess that's part of it is it's not somebody that is under a compliance coordination, what have you.
[00:26:42] Speaker: If we're looking at, okay, looking at the quarter for content, um, and we've got certain pillars and topics we wanna plug in, what is a turnaround time for you from Nick recording and getting it to you to when it's ready to produce? And, like, what sort of a, how many do you have in the queue before people, before they're launching?
[00:27:05] Speaker: Are
[00:27:06] Speaker 3: you tracking me? Is that-
[00:27:07] Speaker 2: Uh, yeah, I think they're two separate things. Yeah. Um, the, the f- answer to your first question is four to four business days. So-
[00:27:13] Speaker: Okay ...
[00:27:14] Speaker 2: he, he publishes on Tuesday, so if we have it by Wednesday, we should be good. Um- Okay ... and that turnaround would be normal and fine. Um, the other answer to your question is we, we don't like to launch an actual show without 10 in the, in the queue.
[00:27:31] Speaker 2: I mean, some people will, will launch the show with more. Um, but in terms of, like, having a, a, a queue of k- of episodes, it's nice, but that's not the reality of m- most of our shows. I mean- How
[00:27:46] Speaker: many, do we have a queue right now for Nick that we're, like-
[00:27:49] Speaker 2: Let me, let me look ...
[00:27:50] Speaker: operating on?
[00:27:51] Speaker 3: About to ask, yeah.
[00:27:52] Speaker 3: Curious.
[00:27:54] Speaker 2: I think we have three episodes ahead of him. Uh, well, but those have some compliance, so let me look.
[00:28:01] Speaker: Okay.
[00:28:23] Speaker 2: Uh, one, two, two, uh, solo episodes and then five, um, interviews that are in the middle of compliance. So we have, uh, seven potential episodes.
[00:28:35] Speaker: Okay. But that, and you have that somewhere else 'cause I finally pulled up the episode sheet. That's a different document, right?
[00:28:41] Speaker 2: Uh, I mean, I'm looking at our internal one- Okay
[00:28:43] Speaker 2: that is, that has them, although I think that one does have it, too
[00:28:52] Speaker: This looks like a quick reference, like I could grab-
[00:28:56] Speaker 2: Mm-hmm ...
[00:28:56] Speaker: links or share with guests.
[00:29:00] Speaker 2: Yeah, and you'll see the five episodes down there at the bottom, um- Okay ... with the guests. I don't think the solo episodes are added onto here until after they're published. Okay. At least currently, uh, that's the way we, we've been adding them in.
[00:29:16] Speaker 2: But I'm looking at our internal Notion database. Cool.
[00:29:19] Speaker: Okay. Awesome. Would it be-
[00:29:28] Speaker: I feel like Nick records and then it, like, disappears from his brain. I'm wondering if there's, like I don't wanna add a document just to add a document, but I'm wondering if either this one, since it already exists and has published, like if he goes in there and says, "I re- on this date I recorded this topic," and then when y'all are ready with details you plug in there just so that we know what exists.
[00:29:55] Speaker 2: Cool. '
[00:29:55] Speaker: Cause I don't think he's keeping track of that. I think he is just firing it off to you. Mm-hmm. Yeah. And so yeah, if I were to say right now, like, "What do we have that we could work with?" He'd be like, "I have no idea." Um-
[00:30:04] Speaker 2: Uh, yeah, we don't have topic stuff. We have, like, files. So like we could- Yeah ... give you file names, but if you were to tell me right now, I mean, I could, I- it, it's a couple of searches away, uh, AI things to go in and grab the topic for those two solo episodes.
[00:30:19] Speaker 2: Um, but right now I just ha- we just have them internally as Nick Solo and Nick Solo. Okay. So that's not necessarily helpful to you in terms of what topics have we recorded on. Yeah. Um-
[00:30:32] Speaker: But if we started using this document in that way, like I said, I don't wanna create another document, but it feels like a seamless flow to me.
[00:30:38] Speaker: Like we plug it in-
[00:30:39] Speaker 2: Yeah, no, of course. And that's, that's easier- Is that a thing? ... 'cause it's already there. Yeah.
[00:30:42] Speaker: Okay.
[00:30:42] Speaker 2: Yeah, totally.
[00:30:42] Speaker: Cool. That would be cool. Um, yeah, I think that would be helpful to start our process too. Um, 'cause yeah, at some point, like it's gonna be bumpy at the beginning. We're just gonna start moving forward and we'll have some backlog of stuff, but I think that'll be amazing.
[00:31:04] Speaker 2: Put these in, and if you wanna, um, well, at least they'll be in there.
[00:31:11] Speaker: Okay. Cool.
[00:31:16] Speaker 2: Yeah.
[00:31:17] Speaker: Great. Okay, anything else that we can be productive with while we're all together?
[00:31:24] Speaker 3: Don't think so. Covered, I think I covered mostly what I was looking for, and this is have, has been helpful, for sure. Um, I mean, when can you guys, or when should we try to meet up again? I guess would be a, another ideally. You said a couple weeks, Danielle, for us to process.
[00:31:48] Speaker: Yeah. I've got, uh, I don't know what the next week looks like.
[00:31:52] Speaker: I can block some good time early next week, um, and I think you and I could meet, DJ, probably like, "Here's where I'm at, here's what I'm thinking and building," um, to get started. We could meet next week, and then probably by the following week be able to say, "Hey, Hector, here's the amazing stuff that we just- Mm-hmm
[00:32:11] Speaker 3: Okay, so I'll meet with you next week, and then we'll meet up with Hector in a couple weeks, kind of with more d- okay.
[00:32:18] Speaker 3: We're done. And
[00:32:19] Speaker: we may not, I mean, we may not need to meet. It might be like, you know, Hector, we just send you a Loom saying, "Okay, here's, here's how we organize our input- Mm-hmm ... into this document, or here's what we're thinking," and then we'll just, we'll track data every week. Um, and then maybe after a month we all touch base again and look at the numbers and see- Mm-hmm
[00:32:40] Speaker: um, how things are going and how that can help, 'cause that'll be, um, just about closing out Q3, and so it could be, you know, good- Mm-hmm ... to kind of get organized to think about it
[00:32:53] Speaker 3: more. Mm-hmm. Right at the end of the year. You know, I like that. Yeah. Okay. Cool. Yeah, just let me know what day, Danielle, works for you next week and I'll, I'll block it in.
[00:33:01] Speaker 3: Okay. 'Cause my schedule's, I mean, I got meetings, but I mean, I can, I can get you in pretty easily, so.
[00:33:07] Speaker: Okay.
[00:33:07] Speaker 3: You're probably busier than I am when it comes to meetings is what I'm trying to say. I don't know
[00:33:11] Speaker: if it's, it's that
[00:33:11] Speaker 3: I'm- Like, I'm busy, but like, I don't got a lot of meetings here, like-
[00:33:15] Speaker: I hold, I hold pretty strong boundaries on the days that I take meetings.
[00:33:18] Speaker: That's, that's where my thing is, um- ... the days that I take meetings.
[00:33:23] Speaker 3: Okay. Yeah, just let me know, and then I'll, I'll get you in on the, on the calendar and we can meet next week. And then I like your idea of like updating Hector with re- for email, then kind of coming back, like, in a month and kind of going from there.
[00:33:39] Speaker: Yeah, 'cause I feel like this really is just taking a little bit off of- Yeah ... Hector and putting it on you.
[00:33:46] Speaker 3: Right, yeah. For- Which is like mine ...
[00:33:48] Speaker: more
[00:33:48] Speaker 3: content creation. Mm-hmm.
[00:33:49] Speaker: Yeah.
[00:33:49] Speaker 3: Yeah.
[00:33:50] Speaker: Since you're- Yeah ... like, seeing things happen live, like you-
[00:33:52] Speaker 3: Mm-hmm ...
[00:33:53] Speaker: know what's happening. Like, let's get you- Yeah ... posting more consistently- Yeah
[00:33:56] Speaker: since you know.
[00:33:57] Speaker 3: But I think that's what Nick wants as well, for me to take more responsibility off Hector so Hector can focus on his podcast and, like, what he's good at and what he's doing, right? So it's like-
[00:34:07] Speaker: Yeah ...
[00:34:08] Speaker 3: leave Hector to do what he's doing and what he's skilled at, and then take everything else and, like, give it to me.
[00:34:14] Speaker 3: So yeah, I'm happy to do that.
[00:34:18] Speaker: Sounds good.
[00:34:18] Speaker 3: Cool.
[00:34:19] Speaker: All right. Thanks, y'all. Yeah. Hector, uh, stage arm free, friend.
[00:34:22] Speaker 2: Yeah, you too.
[00:34:24] Speaker 3: You both, you both do.
[00:34:26] Speaker: I'll talk to y'all later.
About Reside Platform Podcast
The Reside Platform Podcast is built for real estate team leaders and broker-owners who want to scale. Hosts Suneet, Nick, and Mie share the systems, recruiting strategies, and leadership lessons that grow teams — straight talk from operators who've done it, not just coached it.