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Join us as we take a deep dive into the real estate market with insiders in the industry.
#011 Transcript
00:00:37:06 - 00:01:00:07
Michael Conrad
Everyone, Michael Conrad here with the Business of Homes podcast, where each week we bring you stories of entrepreneurship and the business side of real estate. Today we have Amy Gill of Gill and Jones Real Estate, and Amy and I have known each other for a long time, and she has occupied a number of different roles within and around the world of construction and real estate.
00:01:00:07 - 00:01:22:07
Michael Conrad
And so she is someone who is perfect to sort of dig in to the business behind it all because she's seen so much of it. Amy is a designer. She was a builder. She is an accomplished agent and runs a really great team and is someone who really touches that multifaceted part of real estate that makes her great.
00:01:22:09 - 00:01:45:08
Michael Conrad
We're going to go down the rabbit hole a little bit to try to figure out what is it that makes an agent more and more successful in today's day and age. So come along with us. What goes on behind the scenes? Because real estate is such a giant bucket and there are so many people that accidentally get in it because of this one way or they get in it and they think it's desperate.
00:01:45:08 - 00:01:59:14
Michael Conrad
It in fact, they end up doing this other thing, you know. And so I like the stories about what fuels people and makes the entrepreneurial and the business side of it kind of come alive and free.
00:01:59:14 - 00:02:25:00
Amy Gill
So people get into it for different reasons, but they also serve their clients in different ways so well, because you're an agent, right? You're acting on behalf of someone else. You're going to connect with different people because of your life experiences than someone else. Me. And so it's not just how you got into it, but what you provide because of how you got into or whatever your background is, which is why we need so many different kinds of agents.
00:02:25:02 - 00:02:50:07
Michael Conrad
To serve the different types of people. Yeah, I guess that starts to beg a question that almost takes you to like an art conversation. Do we serve the people with what they want or do we lead them into a place where they need to be? You know, does the consumer get to consume what you provide them or do they consume what you want because you tailored it to them?
00:02:50:09 - 00:03:06:18
Michael Conrad
I mean, that's sort of the age old art conversation, right, of like art nouveau and avant garde, you know, always pushing the edge of the envelope and saying, no, don't give the the populist, you know, people what they want. Make sure that you are inspiring and leading because they don't know what they want. And so does the consumer know what they want?
00:03:06:19 - 00:03:32:00
Amy Gill
I don't I wouldn't ever want to phrase it that way. I think that buying a house or selling the house, but usually buying more. The buying part is a journey of self-discovery. So there's, I think, a rude saying in real estate that buyers are liars. And I think that is patronizing and rude and says so much more about the agent than it does about the buyer.
00:03:32:03 - 00:03:51:15
Amy Gill
Hmm. I think it's that people don't know what they want. So the first time someone comes to me and asks me to help them find a house, I have some questions and I'll ask them and they can usually, like, rattle off, You know, I want to be too. I want one yard and I want to be in. But we're going on this journey together.
00:03:51:17 - 00:04:18:10
Amy Gill
I rarely sell someone the first house they see, right? Not because I'm a bad agent or I'm inefficient or something, but because they don't know yet. And I don't know yet what it is they're really looking for. They don't know what questions they want to ask about the House yet. They don't know what questions they want to ask about what they want out of life yet, and how that house or that condo fits into their life.
00:04:18:12 - 00:04:28:20
Amy Gill
So I wouldn't see myself as like giving that like knowing better and giving them what they want. As much as I'm helping them uncover it so to within themselves.
00:04:28:23 - 00:04:34:09
Michael Conrad
Does the buyers are liars sentiment is it buyers are naive? Is that is that what's underneath?
00:04:34:09 - 00:04:58:14
Amy Gill
Oh, sorry. Yeah, I think it's usually when people say it's like when someone comes in and they say, I want a condo and I want to spend 400,000 and I want it in Bellevue, and you end up selling them a standalone house in Mount Julian's, like buyers are liars. No, they're not. They thought they wanted this and they went shopping and they asked some questions about themselves and they stood in the space and they thought, oh, my gosh, I could never live here.
00:04:58:16 - 00:05:19:07
Amy Gill
And they didn't know that about themselves because they haven't had the opportunity to stand on what they thought they wanted and think about it and ask, well, where would my bicycle go or how would I get my groceries or whatever? The question is that leads them on this different path. It's not that they're lying. It's not They're wasting our time.
00:05:19:12 - 00:05:21:00
Amy Gill
It's just they don't know yet.
00:05:21:04 - 00:05:21:23
Michael Conrad
It's the process.
00:05:21:23 - 00:05:52:11
Amy Gill
It's the process. And to me, what I enjoy is the process. And what I really enjoy is helping people who would choose something. I would never choose and love it and just see how much they love it and the way it fits in with their lives. And it's really helped me see the world in a different way. It's almost like when we talk about why it's so important to travel, because you see all these different ways that people live.
00:05:52:13 - 00:05:59:12
Amy Gill
You expand your view, but if you travel, you can very easily just see what you want to see right.
00:05:59:16 - 00:06:00:22
Michael Conrad
Now, Your version of the traveling.
00:06:01:04 - 00:06:26:17
Amy Gill
You can you can just be the tourist and you can you can eat at the same. You can eat at Chili's here and you can at Chili's there, right? Like, maybe. But what I get out of working with buyers is I see all these different ways that people imagine their lives, and it's beautiful of them. Without giving too many specifics, there is a particular subdivision that I have driven by.
00:06:26:19 - 00:06:54:21
Amy Gill
I lived in Tennessee for almost 20 years, and I have driven by this subdivision with some regularity and thought that is my version of hell. And I'm not really being hyperbolic like. And I was introduced to someone who needed to sell a property there and I thought, Oh good, I can get them out of there. At least she cried.
00:06:54:23 - 00:07:19:00
Amy Gill
It was her dream home. She was so sad to leave it. It was everything that she could want and because of her life story, it was everything. And I got to see that house in that subdivision through a completely different lens. Mm. And that challenged me and my prejudice. Right. Like, that was somebody's dream home.
00:07:19:00 - 00:07:20:02
Michael Conrad
They could each his.
00:07:20:06 - 00:07:43:16
Amy Gill
To each his own. And I think that's a really, it's a really humbling responsibility that we have as agents to go on that journey with people and to go on that journey with ourselves if we're open mind, you know, if if if we're open minded enough to listen and hear what they're saying. Because sometimes it's really quiet. Sometimes people are very loud about what they want.
00:07:43:18 - 00:08:05:21
Amy Gill
Sometimes it's it's quiet, you know, you don't like we're not we're not we're not finding it. I've shown them eight things that they say is what they want. But she's holding back. She's not quite committing. I haven't asked the right question yet. She's not she doesn't know how to tell me what it is. And that to me is the fun part.
00:08:05:23 - 00:08:44:05
Michael Conrad
I realized you bring up an interesting concept because we hear on this podcast, try to dig in to the business side of things and inevitably when you're talking about the difference between, say, being a craftsman or having a business or being an artisan or having a business, there's this differentiation between having process that sort of drives and undergirds your practice versus a certain level of customization, which is allowed to and really should exist in sort of craftsmanship and artisanship and, you know, these sorts of things we think about.
00:08:44:07 - 00:09:14:20
Michael Conrad
And so what you describe is these essentially custom experiences on repeat, where you are truly this shepherd sort of ushering people from sort of one place to the next. It's very, you know, Greek myth, those sort of Karen, you know, sort of thing. And in that there is beauty, you know, Karen isn't a good or bad figure. He is, you know, the wayfarer that takes you from one place to another.
00:09:14:20 - 00:09:45:02
Michael Conrad
And so this idea of business practice, though, how do we begin to create identity in what we do brand to codify what represents us and why people might be attracted to us if we were continuing to practice? How do we wrestle with this idea of business process, which is repetition, whilst also not overly injecting ourselves in those biases and those prejudices?
00:09:45:03 - 00:10:12:20
Amy Gill
Well, I think this is where the art comes in because I, I do have a process. I do and I have questions that I ask pretty consistently, maybe a different way for this person or that person. But there is a process and I set the process up at the beginning. I like to meet with people not at a property.
00:10:12:22 - 00:10:23:07
Amy Gill
I like to ask them questions, I like to show them things. I have them show me things. There's a process. I don't like it to feel overly.
00:10:23:09 - 00:10:24:12
Michael Conrad
Rigid and yeah.
00:10:24:15 - 00:10:47:05
Amy Gill
Right, because someone is entrusting me with the place where they all have their most intimate moments. The place where they will have their dinners with their family, where they will raise their children. That is a real like it's it's the most intimate place we own, right? And it's also our largest investment. So it's a it's both emotional decision and a financial decision.
00:10:47:07 - 00:11:09:00
Amy Gill
I just don't like the process to be so forward that it feels like someone's on a conveyor belt. But I am moving them along and I will say that house is not what you're looking for. We're not going to go see that or this one we're going to go see. I will walk into a house and say, This is not it, but I.
00:11:09:02 - 00:11:10:23
Amy Gill
I don't want people to feel like they're on a conveyor belt.
00:11:11:02 - 00:11:20:13
Michael Conrad
You bring your experience to bear as shepherd without forcing heavy handing or overwhelming.
00:11:20:18 - 00:11:39:06
Amy Gill
Yeah, because I think there's also a level of trust that has to be there. If I've told you not to buy the last five when we walk in the right one and I say, Oh, I think this is it. Well, you trust me now I didn't tell you not to buy the last five because I was planning to tell you to buy number six.
00:11:39:06 - 00:11:57:13
Amy Gill
And like, this is a process and I again, it's, it's tailored to the person. But I think there is this level of trust that has to to develop the relationship has to develop so that they can trust me when I say.
00:11:57:15 - 00:12:22:15
Michael Conrad
Okay, so we can begin to zoom out and look at what you're describing as this sort of essentially human and what you call a self-discovery process that you're shepherding people on. And it feels extremely relational, which is, I think, why real estate has such a wide mass appeal is that we're all essentially in different gradations, relational beings seeking deeper relationships.
00:12:22:15 - 00:12:54:03
Michael Conrad
And if we can use relationships to get us further in business or monetarily, that seems attractive, right? But we know from experience that this is not the case for some, and it's difficult to practice. And not everyone who begins their journey in real estate is able to continue it for long term. And so this nuance of shepherding through a journey or creating a process, but not making it feel like a conveyor belt, that's the nuance, that's the difficulty.
00:12:54:03 - 00:13:06:08
Michael Conrad
That's the trick of it, because many fail at trying to achieve what you're talking about. It's either too process driven, it's too clinical, it's too hollow.
00:13:06:09 - 00:13:09:06
Amy Gill
But they just feel like they're being sold, right? Yeah.
00:13:09:08 - 00:13:31:15
Michael Conrad
Pushed in one direction or another, or it remains essentially custom and very human, but it is scattered and not driven forward with any sort of moving energy and certainly is on scalable. Yes, Well, you got in not having real estate experience because no one has a real estate experience before they get in. And that's what's so interesting about it.
00:13:31:16 - 00:13:37:15
Michael Conrad
But how did you learn to strike this balance? Because it's easy to fall on either side.
00:13:37:17 - 00:14:02:10
Amy Gill
Yeah, I think for me it was that I didn't get in real estate with the intention of getting into real estate. So we were building and essentially paying a salary, a labor salary and commission. And the last one we did with our agent, we were asked to negotiate with the buyer directly so that, well, I'll just get my license.
00:14:02:10 - 00:14:33:00
Amy Gill
Like a lot of people, I'm just to get my license because how hard is it to be a realtor? And the next house we did, someone called me who didn't get it and said, Could you help me find something? And I thought, Hmm, that's not really where I got my license. I can't sell. I'm not a salesperson. Because the last thing this is another part of my story, but the last thing I had had to sell was the Memphis Symphony Orchestra, the regional performing arts centers in Arkansas and Tennessee.
00:14:33:00 - 00:14:41:01
Amy Gill
And so while I was able to sell the orchestra that I don't think there's really anything harder to sell. Also, it's in the Great Recession, so I don't really think I could.
00:14:41:01 - 00:14:46:01
Michael Conrad
Sell, I don't know, selling toner cartridges in the early 2000s like I did. That was pretty hard. Phone sales.
00:14:46:01 - 00:14:49:00
Amy Gill
Selling an orchestra.
00:14:49:02 - 00:14:49:22
Michael Conrad
May be harder.
00:14:49:23 - 00:15:13:15
Amy Gill
Maybe harder, but. Okay, yeah, I'll do this. And I discovered a lot of what we're talking about. I was just helping her solve the problem. I need. I need a place to park some money. I need a place for my children to rent for me. Like I need to solve these sort of financial and personal problems. And I want to be in this area, and I don't really know much about houses.
00:15:13:18 - 00:15:37:13
Amy Gill
Well, I knew a lot about houses by this point, and I knew about the areas she wanted to be in and I had some rental properties, so I kind of knew about that. And so I discovered I had information to impart to her that was valuable to her and that helped her. And then and then this is this is where I think the difference is between the agents that succeed relationally and that don't.
00:15:37:15 - 00:16:02:22
Amy Gill
I helped to find the house. We became really good friends. I'm still good friends with her son to this day, and that was over eight years ago. I'm not in the relationship is not transactional, so I'm still in touch on a pretty personal basis with most of my clients from eight years ago. They know that they can call me.
00:16:03:00 - 00:16:31:00
Amy Gill
They need a painting recommendation. They need they don't know what to do with, you know, a plumbing problem. They want to show me the bathroom that they just renovated, that we talked about, and they want to show me what they did. And I'm excited to come see it. I love that. I love it so much when people call me five years later and think about me like and know that I'm going to answer the phone and I'm going to help them and I don't want anything from it in return because it is a relationship.
00:16:31:00 - 00:16:51:04
Amy Gill
And I was there to help them place their family in this wonderful house. And I did believe in the investment and I'm not afraid to pick up the phone when they call. Yeah, and I still want to be their friend because I care about them and their family still. And I have met some really fabulous people doing this business.
00:16:51:06 - 00:17:13:15
Amy Gill
I met you. Yeah, in this business. And I just think that is such an honor and a privilege. And I think But because it's natural, I want to continue the relationships. There are also processes behind it. I do plan out when I'm going to touch people and how I'm going to touch people. I'm going to touch in a soft way.
00:17:13:19 - 00:17:29:19
Amy Gill
I'm going to touch them in a number, a numerical sort of data way, and I'm going to alter those. And I'm not perfect. Like, I wish I could say that I can think of everybody in my database every day without any prompts. That is not the case. I do require a system.
00:17:29:22 - 00:17:32:22
Michael Conrad
A system.
00:17:33:00 - 00:17:35:15
Amy Gill
To help me do what I want to do anyway.
00:17:35:17 - 00:18:10:17
Michael Conrad
Yeah, the relationship piece. It continues to be the pulsing heart of why so many of us got in. But I will admit it's sometimes difficult to keep your eye on the prize business, especially at scale, requires compromises. The sacrifices that attack, you know, those original sensibilities of like serving others and enjoying those relationships. And that's definitely been, I think, difficult in an ever changing market.
00:18:10:18 - 00:18:46:20
Michael Conrad
We're never promised a static market, not any stretch of the imagination, but it's been difficult to figure out how to balance those things. And it's really cool to see someone like yourself that's been participating in so many different capacities in real estate and finding great relationships in that. And I think going back to the very beginning, you said, Oh, when I got in, But your story of getting in is really interesting because it wasn't because you were needing a change or something like that.
00:18:46:20 - 00:19:11:03
Michael Conrad
It was out of necessity. And then all of these things came together and so design is one of those elements that is continue to float to the surface as an is an impactful and important piece of your business practice. It's a it's a flavor ring that's uniquely you That I think is a big draw for folks. And so how does that intersect with these relationships?
00:19:11:03 - 00:19:17:19
Michael Conrad
Do you find that that's tip of the spear or is that I mean, it comes along later now this sort of design presence.
00:19:17:21 - 00:19:47:18
Amy Gill
I think in some ways it's tailored to the client and what their needs are. But the design presence allows, like my interest. I love houses, I love people, and I love houses totally. These things can go together. So I think because I love houses, I can I can appreciate and articulate for people when they're walking through a house what it is they like or they don't like about this house.
00:19:47:19 - 00:20:12:08
Amy Gill
Well, all the wind is faced west, so the light's really harsh here, isn't it? Yes. That's why you don't feel calm here or the light or the light so soft. We're getting it from two directions south and east, and that's we can talk about those things. I also just have solutions because I have worked, because I don't just design, I manifest the designs.
00:20:12:10 - 00:20:29:18
Amy Gill
I can hold their hand through it and say, you know, this is how we can get it done. I have this person, I can say we need to refinish the floors. It's running about $1.75 square foot to see anything you know, I can give. And so right there, while we're making the decision, do we buy this house? Do we not?
00:20:29:18 - 00:20:45:09
Amy Gill
Can we afford it? I can give them a pretty quick idea of what it's going to cost because I just paid it yesterday. So it's not hypothetical. You know, I think realtors are accused of, oh, it's depressing. The price is to accomplish.
00:20:45:10 - 00:20:46:10
Michael Conrad
Or to soften the blow or.
00:20:46:10 - 00:20:53:19
Amy Gill
Something. Yeah. Like because they want to make the sale. So we're going to depress how much it would actually cost to get something done.
00:20:53:19 - 00:20:54:14
Michael Conrad
Part of the range.
00:20:54:18 - 00:21:24:02
Amy Gill
Yeah. And I can help them decide. We should do this now. Hey, just don't. Don't do that now. So I think that's part of it. I think also on the we've talked a lot about the buy side. On the sell side, I have the abilities to to make properties really pretty. I'm fortunate to have a lot of clients with great taste, so that makes it easy.
00:21:24:04 - 00:21:31:20
Amy Gill
And also I can get properties that might be a little more dated, a little more help.
00:21:31:22 - 00:21:32:09
Michael Conrad
As.
00:21:32:10 - 00:22:00:00
Amy Gill
Well. Just and we can do the things. But also because I love buyers so much, I can see houses through buyer's eyes when I'm working with the seller and, and that's again where it's like kind of the behind the scenes person part of my business and the process. I keep working with buyers so I can be good with sellers because a lot of times agents will stop taking buyers as they get more experienced.
00:22:00:02 - 00:22:26:11
Amy Gill
That's for the young agents. I'm not going to do that anymore. I disagree with that. One of the other reasons I got into real estate from building was I had designed a house and I'd only ever lived in historic houses, so I'd never had decent closets. And I'm not really a clotheshorse anyway, so I didn't think I would walk in closets and go on the record are a waste of space because circulation and the design takes up square footage.
00:22:26:16 - 00:22:44:01
Amy Gill
Why do we need to walk in? I gave these two beautiful front loading closets that were far more a linear feet of hanging space than you would have gotten in the same square feet, have a walk in closet. And do you know how many times I heard that we're not buying that house because it doesn't have a walk in closet?
00:22:44:02 - 00:22:46:08
Michael Conrad
This 34 people love walking.
00:22:46:10 - 00:22:54:05
Amy Gill
They love a walk in closet. And so I thought, well, does it matter what my opinion is? I need to find out what the market thinks.
00:22:54:07 - 00:22:54:23
Michael Conrad
What do the people want?
00:22:55:02 - 00:23:14:14
Amy Gill
What are the people want? Because ultimately, that's what I'm here for, is to serve the end user. So that was one of the other reasons why I got into. Once I started showing, I realized, okay, I'm not trying to cold sells an orchestra in the Great Recession. I can sell. I need to know more. What can I learn?
00:23:14:14 - 00:23:31:10
Amy Gill
I can learn a lot about how people think. I just listening and asking questions of buyers and that helps inform the houses I design, hopefully for the better.
00:23:31:11 - 00:23:55:04
Jake Hall
Hey everyone, it's Jake, director for the Business of Homes Podcast. I hope you have been enjoying today's episode, starting with creating the balance between business processes and personal biases. What makes an agent successful in their relationships and how Amy's understanding of design absorb put words to her clients thoughts. When we return, Michael and Amy dive into how to become irreplaceable by technology.
00:23:55:06 - 00:24:17:20
Jake Hall
Training her team to provide the same value as a more experienced agent and the importance of understanding the home itself. Don't forget to follow us on Facebook and Instagram @thebusinessofhomespod, where you can interact with us and see some great bite sized pieces from all of our episodes for you listeners out there. Did you know our entire podcast are filmed and are on our YouTube channel?
00:24:17:22 - 00:24:38:07
Jake Hall
Check it out next time you want to see our amazing guests tell their stories. And are you currently watching this episode in video format? Don't forget to follow us on your preferred audio streaming service to take us with you on the go. Lastly, do you have any feedback or want to suggest someone for the show? Email us at thebusinessofhomespodcast@gmail.com.
00:24:38:09 - 00:24:53:09
Jake Hall
Please enjoy the rest of today's episode with Amy Gill. Let's get back to it.
00:24:53:11 - 00:25:27:00
Michael Conrad
Okay, so you're beginning to present a very compelling argument for a realtor to not just be a shepherd or a salesperson, but to be a multifaceted practitioner of all things houses. Mm hmm. And this is one of the reasons why I've enjoyed working with you over the years, is that you do bring a multi angle perspective. You look at it from investment, you look at it from, you know, design, from build, from sales, from buyers and sellers.
00:25:27:02 - 00:25:54:18
Michael Conrad
And so I'm not sure that every agent can be that. But you're beginning maybe accidentally to make a case for the future generation of real estate agents to be more knowledgeable of those little things, whether it's having a buyer's eye when providing listing advice or whether it's knowing how exactly and who exactly to get to fix said listing before it goes to market.
00:25:54:20 - 00:26:31:12
Michael Conrad
It could be to provide that buyer with a chance to say you haven't found anything that you like. But if we made these adjustments, all of a sudden three more options become real options. And so we go from 0 to 3 with adjustments. But adjustments means construction, it means money, it means time, it means, you know, design. And so if I'm hearing you correctly, why aren't we seeing the rise of more multifaceted agents who are dipping deeper into these areas of expertise, whether it's design or construction?
00:26:31:14 - 00:26:56:10
Amy Gill
I don't know if I can answer why we're not seeing it, but I can say the I buyer has gotten people up in arms. The answer to this is not lowering our commission structure. It's not working for less. The answer is making sure that you're providing something, that you are adding value to the user, to the to the buyer, to the seller.
00:26:56:10 - 00:27:19:04
Amy Gill
What is it that I can do that an AI buyer can't? How I can tell you how to read an inspection report. I can tell you how to get it taken care of. Like I can give you the phone numbers. I can help you after the fact. I can help you get that. I'm not going to come get your bathroom, but I can help you get that bathroom.
00:27:19:04 - 00:27:48:14
Amy Gill
Get it, or I can help you either buy the investment property or convert that single family home into that. You've been living in your residence, into your investment vehicle. Because I've done all these things, will I sometimes lose out to an AI buyer or, you know, a single a limited service listing agreement? Sure, that wasn't my client. And that's okay.
00:27:48:14 - 00:28:07:13
Amy Gill
If someone wants to list for $500 and that's all the service they need, that is absolutely what they should do. There are a lot of other people that want more support, and I find interestingly enough, there's a little bit of a generational divide in this. I find that baby boomers are more likely to want to do it by themselves.
00:28:07:15 - 00:28:38:20
Amy Gill
But millennials and Gen X and and Gen Y, they're accustomed to having lots of data. And so just having data isn't quite as sexy. It doesn't since a lot like it does for older generations. What they want is help understanding the data they want ready to experience. They want the curated experience. Absolutely. For me, when I first got into real estate, I didn't know enough people to launch a career.
00:28:38:20 - 00:29:02:13
Amy Gill
So once I decided I was going to to be a real estate agent, not just kind of have my license, I bought Zillow leads and the first leads that I was able to buy were all downtown condos, and I didn't feel like I had anything, any value to add. They didn't need to know what a sofa was. I didn't need to know really how to read an inspection report like a water heater works, right?
00:29:02:13 - 00:29:03:04
Amy Gill
Like there's not.
00:29:03:04 - 00:29:06:22
Michael Conrad
Much concrete right over.
00:29:07:00 - 00:29:16:02
Amy Gill
What I really liked was working in East Nashville and the older homes because I knew that I could add value. And that's, I think, why people come back to me.
00:29:16:06 - 00:29:44:21
Michael Conrad
Sure. Yeah. I think you'll hear no argument from me. I've built a career on trying to create an all in one one stop shop experience. I truly believe in it, and I learned this from someone else a long time ago. I sort of was struggling to figure out value versus service and just kind of heady conversation. And you're saying if you always had more value, then price just kind of goes away as a part of the conversation.
00:29:44:22 - 00:29:45:10
Amy Gill
Yeah.
00:29:45:12 - 00:30:20:13
Michael Conrad
And ultimately, you know, price becomes these very difficult, memorable pieces for all of us as consumer. We always remember what we spent on that piece of consumer technology or that car or that whatever. But an even more powerful emotion is those experiences. And I say this as sort of an Gen-X elder millennial, whatever I am. And so this is maybe generational, but ultimately is the lasting impression of enable to assist someone in a multifaceted kind of way.
00:30:20:15 - 00:30:41:21
Michael Conrad
And I think perhaps if there is some sort of underlying zeitgeisty of frustration with the realtor profession, perhaps the wording is rather, let's add more value, not yes, let's reduce right whatever the perceived concept of like should or should not be.
00:30:41:22 - 00:30:46:18
Amy Gill
Commercialism, which is competing against a computer.
00:30:46:20 - 00:30:48:11
Michael Conrad
Right. And we will lose that and.
00:30:48:11 - 00:30:53:07
Amy Gill
We will lose that. Yeah. If that's all we're doing, we just become a lackey. And I don't want to be a lackey.
00:30:53:11 - 00:30:54:02
Michael Conrad
All right.
00:30:54:04 - 00:31:15:16
Amy Gill
So we are going I have a teammate, Pete Jones, and then we're adding to our team. And right now at this this very week, I've been writing mentoring programs for them to make sure, like we're going through the parts of the houses, we're going through the components, we're going through styles, we're going through roof style so that they have language to describe what it is they're seeing.
00:31:15:17 - 00:31:36:23
Amy Gill
Oh, you don't like gamble routes, You only like cable routes. Like, I want to make sure that my team knows these words, but also like we're breaking down the components of an h-back system. I don't have an HVAC license. It's not it's it's high level, right? But I want to make sure that they understand what what do these words mean so that they can add the same value.
00:31:37:01 - 00:31:55:06
Amy Gill
So kind of coming back to your earlier question, why don't more agents have a multifaceted approach? I don't know, but this is what I'm doing about it. We're talking a lot with them about investing. They may not have investment properties yet, but I am transparent with my finances, like these are my investment properties. This is what it looks like.
00:31:55:06 - 00:32:28:12
Amy Gill
Let's look at that together. Here's here's my list. You need a copy of this lease. And I'm also always telling them stories about I run into this problem. This is how I solved it. Like, what do you think? Like trying to get them up to speed really quickly about things that they may not yet have? The life experience that I do because I'm older, but I make sure that anybody who's working with me can give that multifaceted approach to anybody that we're working with, because I do think it is the future of real estate.
00:32:28:14 - 00:33:17:16
Michael Conrad
Yeah, this I think we're consolidating as consumers. Certainly we have become accustomed to things being consolidated. You know, we shop at stores both online and in-person that have a wide variety of disparate products so that it's easy. It's one trip, you know, or one website. And so it's no surprise to me that, you know, as we continue consumer behavior into services, that we want companies or practitioners who can offer a wider range of knowledge, a wider range of service, a wide range of context and we were all young and unexperienced one time, and I remember in a very blunt sort of or, you know, not intelligent sort of way, knowing that I had to overcome
00:33:17:16 - 00:33:44:13
Michael Conrad
experience and age deficit with information. Information was going to be the key of how I dug myself out of that hole until I could get the life experience to have the guts to be able to share my gut feeling with someone. And so I think that's a great encouragement for listeners here who are, you know, in their journey, whether they're going back to the bench to sharpen or whether they are, you know, new, it's information will always be king.
00:33:44:13 - 00:34:18:20
Michael Conrad
And in this particular respect, it's education and depth of knowledge that ultimately isn't about you being able to lord over a client or a fellow professional with better information. It's knowing how to be sensitive to questions that come up. It's knowing how to shunt, you know, their direction into the right other party. It's how to speak intelligently so that they can continue their journey of trusting you rather than unfairly pulling up short.
00:34:18:20 - 00:34:36:15
Michael Conrad
It would certainly be unfair to a seasoned agent, you know, who was helping a client and they were going through a journey and it was sort of lengthy, but questions arose that that agent was unaware of, and they had to say, I don't know, it would be unfair to them for that client to just begin to lose trust.
00:34:36:21 - 00:34:58:17
Michael Conrad
But consumer behavior will happen. People will lose trust if you don't know the answers. And so continuing to gird yourself with information I think is is best. And I love that you've gotten a chance to see all parts of it and you spread it over the part where you manifest the designs. For all of our listeners out there that is building.
00:34:58:17 - 00:35:21:18
Michael Conrad
She was an actual builder, building real houses out of the ground, some of them quite beautiful, if I do say so myself. And that experience of going to job sites and walking around, I mean, here's my encouragement. Anyone who loves houses as much as you and I do, stop driving when you're in the middle of the road and you see a jobsite stop, pull over, walk around.
00:35:21:20 - 00:35:29:21
Michael Conrad
I'm sure that the people who are working there won't mind under many circumstances, perhaps not all that fine homebuilding.
00:35:30:00 - 00:35:39:20
Amy Gill
Yes, I read that covered a cover for years and years and years. I read every inspection report. Are they? I'm sorry. Are they interesting reading? Do I like reading them?
00:35:40:00 - 00:35:42:02
Michael Conrad
Absolutely not. Not bedtime reading.
00:35:42:02 - 00:36:10:23
Amy Gill
But I read them all. I know a lot of agents that don't think that's their job. One thing I think I don't like the words. That's not my job. I sort of have a knee jerk reaction to that. Like, are we sure? We sure. That's lawyered up. Read the inspection reports because it's it's an amazing opportunity to learn how houses work, how they fail, what to look for before you go, you know, before you go on the market.
00:36:11:00 - 00:36:30:10
Amy Gill
So what when you're at a listening appointment, this is going to come up on the inspection. It would be great if we could go ahead and take care of it. It's cheaper now than when we're under the gun. It's also a great way to build trust with buyers. This is, you know, after you know, that they've fallen in love with the house is or or maybe they're still deciding you can kind of soft close them.
00:36:30:12 - 00:36:50:08
Amy Gill
Sure. But you can also say this is going to come up on the inspection report. It's not a big deal. But this is going this is going to be there. The inspector is going to ask for x. It means they're already sort of prepping. You're already telling them this beautiful house that you've just fallen in love with isn't perfect.
00:36:50:10 - 00:37:13:21
Amy Gill
And so you're preparing them in that way. You're not surprised. You didn't just say, this is great, and then you get to the inspection like, Oh, yes, it's not so great. Not that that can't happen. I mean, we all have surprises on inspections, but all of this is just about serving the client. It's all about the information that you have that allows you to get to serve them so that they're not surprised.
00:37:13:21 - 00:37:19:05
Amy Gill
So they have what they need. And it's good for you, too, because you probably have your own house. So you need to maintain.
00:37:19:10 - 00:37:32:16
Michael Conrad
Arming yourself with more information about your client, about their needs, about the houses you're looking at, about the house you're trying to sell. You know, all of it is valuable and the buyer.
00:37:32:18 - 00:38:10:05
Amy Gill
Again, can't read the inspection report. So if this is something else that you don't do, that the buyer also doesn't do, how are you differentiating yourself? The the buyer is or the seller is hiring you for your expertise. That's really all we're bringing to the table is entry code like I mean like anybody get have that it's it's again it's a we're walking through them with you know they need to know you're going to put on the inspection reports at the outlets aren't grounded.
00:38:10:07 - 00:38:32:11
Amy Gill
What they need to know for me is this is true of all houses built between 1950 and this is very expensive to fix. If you ask for this to be fixed, it's going to cost you. And it depends on the house. But $35,000, $70,000 is is that your intention? Are you aware that this is the case for any house built in 1960?
00:38:32:13 - 00:38:57:00
Amy Gill
You weren't aware, but it's critical to you. Okay, Now we're only going to look at houses built in 1980 and, you know, you have to have that information or you're going to waste time. And that's where it's like coming all the way back to the beginning. This very customized experience has a process. The process may be hidden to some extent from the client, but now I have.
00:38:57:02 - 00:39:18:01
Amy Gill
But if I'm going through this now, I know the we're not buying we're not looking anymore in Inglewood, Right? We've eliminated Inglewood. Now we're looking at some place where we get a house built after 1988, Hendersonville or something. We've just changed the search. The buyer isn't a liar. The buyer now has new information. Now they know. Well, I've just found out what an unguarded system is, and I'm uncomfortable with that.
00:39:18:03 - 00:39:19:16
Amy Gill
Great. Not a problem.
00:39:19:18 - 00:39:45:20
Michael Conrad
So music to my ears to hear that you're seeking to better contextualized the information. This is wonderful. It's difficult because it's not a widespread action. It is the desire, I think, of the buyer to have the context, and I would say that it's beholden on a number of the professionals who are involved the transaction to do that contextualization.
00:39:45:22 - 00:40:09:01
Michael Conrad
But I would say that that lack of context probably leads to the greatest bumps and greatest potholes and greatest upsets in sort of the transactional journey both for professional and for buyer, you know, where there's not a sense of like or how normal is this. You know, it's like if we don't read history, doomed to repeat it because we don't understand the context.
00:40:09:03 - 00:40:45:07
Michael Conrad
Well, if we don't have the surrounding history of homes, history of this home, you know, history of buyer behavior, history of financial, you know, things that are coming to bear, we're not going to be able to avoid, you know, those potholes and pitfalls and whatever. And so I'm glad for that. And it's a great encouragement here. We should be constantly back to the workbench, constantly sharpening, constantly educating ourselves so that we can better serve the customers in front of us because they are not going to necessarily do the work and it's not beholden upon them to do it.
00:40:45:09 - 00:40:50:01
Michael Conrad
And those that will yeah, we probably won't work with them as much because we won't see them.
00:40:50:01 - 00:41:16:14
Amy Gill
Or there's just really that time, right? One of the things I say sort of behind the scenes, this is more like my business partner. Our compensation is global. The client sees the 3% for this and maybe, maybe we got I only want lucky. That's just not how I view it. But maybe we were quick. We found it in five showings in three days.
00:41:16:16 - 00:41:17:10
Michael Conrad
Efficient.
00:41:17:12 - 00:41:38:20
Amy Gill
Efficient. But you're not paying for me to open the door five times and answer my phone 25 times? You're paying for every inspection I have ever been to. You're paying for every inspection report I've ever read. You're paying for every fine homebuilding you are. Every time I've been on a job site, every time I've stood with a tile setter and said, Wow, what are you gonna do about that?
00:41:38:22 - 00:41:49:21
Amy Gill
And come to a solution, right? And I don't know which part of that you're going to need in your transaction today, but I'm bringing it all.
00:41:49:23 - 00:42:17:14
Michael Conrad
We as practitioners have to find something that is not only uniquely us and different, but has intrinsic value. And to the modern consumer who doesn't eat and breathe and sleep, house is in real estate. Knowledge, of course, is probably going to be tip of the spear. That's going to be one of the easiest ways to achieve value because it's the thing that the consumer is probably missing the most of in the most areas, most often.
00:42:17:16 - 00:42:33:21
Michael Conrad
And then I would say contextualization solutions provision. I mean, that's it's got to be right up there. Well, with this, I feel anyone who listens to this knows how to be successful now. So. All right. We saw those problems. I'm so pleased.
00:42:33:22 - 00:42:39:18
Amy Gill
It's caring about people and cared enough about them to have the knowledge to give them what they need.
00:42:39:20 - 00:42:42:22
Michael Conrad
My goodness. Amy, thank you so much for being here. What a.
00:42:42:22 - 00:42:43:11
Amy Gill
Treat.
00:42:43:13 - 00:43:03:00
Michael Conrad
It's a pleasure to treat everyone. Thank you so much for listening. This is Michael Conrad with the Business of Homes podcast. I hope you subscribe. I hope you stick with us and I hope you hit us up with questions and comments. Or if you want to be on this podcast, let us know. We'll see you next time.
00:43:03:02 - 00:43:22:17
Jake Hall
Hey, everyone. Jake again, director for the Business of Homes podcast. I hope you've enjoyed today's episode. A huge thank you to Amy Gill for being a part of the podcast. Don't forget to subscribe on your preferred listening platform and make sure to follow us on Instagram@thebusinessofhomespod. Do you have any feedback or want to suggest someone for the show?
00:43:22:22 - 01:02:14:09
Jake Hall
Email us at thebusinessofhomespodcast@gmail.com. Thank you again for listening and we'll see you soon.