Welcome back to another episode of Your Daily Real Estate.I'm Tristan.This episode, actually, the next three episodes are going to be brought to you by my book, Real Estate Prospecting.I just finished recording the Audible.
It should be out in the next 45 days, which is great.Watch out for that.If you do love Audible, if not, pick up the book.It's already on Amazon and Barnes & Nobles. Now let's get into this one.
I just finished rereading and it's been a long time since I read this one.The book, and I took notes for you, Who Moved My Cheese?And if you listen to this one, you can listen to it probably in less than an hour.
And if you read it, if you're a pretty fast reader, same thing, maybe an hour, maybe two.It's by Spencer Johnson and you've got four characters.It's in story format. And I thought about rereading it.And here's a lesson for you.
But I thought about rereading it because we're going through all of these changes with the NAR settlement.We're in limbo.We don't know exactly what to expect, how we should be operating exactly.And we're also seeing AI come into play.
And we're also seeing a shift in certain markets. And I thought when you piece all of them together, there there's change coming for sure.
And the thing about this book is that it tackles change by letting you know, hey, change is going to happen no matter what.And it's your job to be able to focus on where things are changing by keeping yourself alert.Now, there are four characters.
Here they are. Number one is sniffing.I'm going to read these so I don't mess it up.I took notes for you.Sniff anticipates change early and sniffs out new opportunities before others even notice the change is happening. Hmm.
I mean, I'd like to be sniff and I'm, I'm probably, I'm probably overshooting here.I'm not sniff all the time.Right.Number two is scurry.Scurry takes action quickly and adapts without overthinking.
He moves forward and adjust to new situations rapidly.Again, not, not bad.Right.I'd like to be scurry.Number three is hem.Hem denies and resists change fearing that the new situation will be worse than the current one. he struggles to adapt.
That one is very common.I see it and I hear it in lab coat agents and in the real estate industry in general.Number four, Ha learns to adapt in time when he sees that change. and it can lead to something better.
He moves forward with a positive outlook.Now when you apply these four to the real estate world, that's where it becomes a little bit interesting.So here's what I've got for you.When I'm looking at the NAR settlement, and how it's going to affect us.
I wrote this down for you.So listen, the legal settlement affects how agents operate and handle commissions.Are you like him resisting change or like sniff and scurry seeking new strategies to thrive?It's a mindset shift, everyone.
We're going to see things change faster, and those that adapt, specifically working with buyers, I think is probably the biggest opportunity.You're seeing people hem and haw about working with buyers, saying it's impossible now.
No one is going to sign this agreement. And yet those people that figure it out fast will be the ones working with all the buyers.Will things change and will our commission lower in some instances?Of course.But get with the change.
That's the NAR sentiment.Artificial intelligence.Here's what I wrote for you.AI transforms business practices from virtual tours to predictive analytics.Are you embracing AI like sniff or are you hesitant like him again?
AI is in the middle of revolutionizing a lot of different industries and empowering a lot of other ones.
I think with us, we'll see it empower it, and in some cases, we'll replace that agent who barely functions as a real estate agent in the first place. And then, market dynamics.Here's what I wrote for that one.
The real estate market is constantly changing.Are you like Ha, willing to learn and adapt?Or are you stuck like him, wishing things would stay the same?And I already know the answer for a lot of you when it comes to the market.
The market's always changing.We have that as a fact. And sometimes in these changes, you get a big chunk of brand new agents like we did through 2020, 2021 with the pandemic.And a lot of these newer agents, you may be one of them.
You may be saying, hey, I've never seen this market before, but I can guarantee you something.If you stay in this market long enough, you'll see the ups and the downs.
And whether you're in a higher up like in Connecticut or in a down like in parts of Florida and Texas, you're going to have to adapt and say, well, what is actually bringing business?What is actually closing?
And sometimes it takes a little bit of time to adapt, but don't give up.Look at what's working.Look at what's actually bringing you business and focus more on that.And that requires you to change.This book is super fast to read.
It throws everything in your face really, really quickly. and I'd recommend it to you.Again, it's Who Moved My Cheese?It's a little bit of an older book.I think it came out when I was in my 20s or my teens.
I don't remember, but great book nonetheless.Pick it up and we'll talk again.
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