Subscribe
Share
Share
Embed
Generation Z, also known as Millennials, don't want to be face to face. They want all electronic communication. Right?! Or is that a myth. In this episode with Kristin Messerelli, Editor of Mortgage Women's Magazine and Founder of Cultural Outreach, an organization designed to help bridge the generational and cultural gap by offering education to the mortgage industry about Generation Z and underserved groups.
Show Notes
I have with me someone who's going to help solve this problem: How do millennials really want to be treated? What is their ideal process? I think there's some myths in the marketplace and I happen to have a true expert with me today, Kristin Messerli. She founded the organization called Cultural Outreach. So first of all, let me start by saying, Kristen, thank you for being on the Think Bigger Real Estate Show.
Thank you so much for having me, Justin. Great to be here.
Great to have you. So I actually met Kristin a couple of weeks ago. She spoke here in Portland at the Oregon Mortgage Broker's Association and I was super impressed. I thought, this is knowledge that more people need to know about. The room was packed, but I'm excited to get this content, and her mission really, out to more people. So let's talk about this a little bit, Kristen. I think that you have spoken on the biggest stages, including Gary V's, big event. I know you're touring around the country sharing this knowledge. Let's dig into a little bit about maybe some of the myths that are utilized to characterize how millennials want to be treated. Is it true that they actually don't want to talk to anybody? They don't want to meet with anybody? They just want to text and use Facebook messenger?
Definitely not. I think that this is something I'm so passionate about because I think people assume that because Millennials are using social media, are texting, want convenient and have access to things, that we don't want the human touch. And we really want to have someone that is going to guide us through this process. I mean, buying a home for the first time, making the biggest financial decision of our lives, we want someone that is going to to help guide us through that process. And I think that texting and convenient communication, Facebook Messenger, all those kinds of things are important to get the communication going and for quick communication, but technology should always be about enhancing the relationship and increasing that kind of connection with your buyer, particularly someone who's a first time buyer and for Millennials, we're seeing that trend even more so with Gen Z where they want that individual relationship with a person or brand. They want to feel like they can trust that person. I think that we miss that a lot of times when we think about our generation.
I love it. So, two big potential risks here is number one, Millennials are underserved, right? That they aren't getting the level of service that they want because of these stereotypes. And number two, that real estate agents are missing a huge opportunity because they're assuming that they want to be treated a certain way and we're giving them something else. So I really appreciate you clarifying that. There are some forms of quick and convenient communication, but it shouldn't stop with that. Is what I'm hearing you say?
Yeah, exactly. I do think it is shocking how much Millennials, well-off Millennials--successful Millennials--don't know anything about buying a home where, or who to talk to about it. And I think there's just this huge gap between them feeling like they know someone who is an expert in that, who is a real estate agent for instance, that they feel comfortable enough to reach out to and not be immediately sold to, not feel like they are stupid for not knowing these things, you know? So I think that element of being underserved, it really is a big deal when we talk about our generation. I think that it doesn't stop with a quick text or with more social media in any respect. It's using that as a way to build your network and provide convenient access to you and then going from there to a person-to-person or video kind of communication that really improves that trust and relationship.
I love it. Let's talk about this now: I know you've been a buyer, in addition to being the founder of Cultural Outreach, I know you're also the editor of Mortgage Women Magazine. So again, you're involved in a lot of places really influencing. Let's talk about even your personal scenario. I know you've been a buyer and a seller before and you described to me how some people tried to earn your business and it didn't work very well. Talk to us about that.
Yeah, so it was interesting because when I bought my home, this is about six years ago or so, maybe seven years now, I remember going through that process and how my real estate agent and I had a sit down at the beginning and I honestly didn't even really vibe with him that much. I thought this guy is like a typical salesman, whatever. But when we started going through the process a little bit, I realized, man, he really knows his stuff. He is educating me on all these things that I feel like I could reach out to him about anything about buying a home. I mean, if he didn't know, he was going to know someone who knew. And so that was super valuable to me. And then also when we were going through looking at homes, he would point out stuff by saying: I know your goals are X and Y, so I don't know if this home is a good fit for you.
So he had my goals in mind and I felt like he had my back. So from that point on, I was totally sold on him. But when I was selling my home I posted something about it and I had already started the business. I wanted to know how real estate agents would reach out to me and, and that kind of thing. And I put my home up on Zillow and I got a million phone calls and I was so annoyed by all of that. And a couple people texted me and said, "Hey, are you available, or can you jump on a call to talk about this?" And then I would respond to the text messages. And one in particular stood out where she sent me a first-time home buyer guide, or rather, it was a seller's guide. And, she texted that over and then said, "Hey, here's a resource for you. Let's chat when you have a second." And I thought, okay, this is the right way where t's convenient for me to schedule something. I don't drop everything to pick up a call and get sold to. And then I'm more prepared, you know. So I think that that was a good example of using technology to get to the relationship.
I'm going to dissect this a little bit. So I think this is super fascinating and it's a perfect case study, right? So you went to buy a home and you found that person. Were they referred to you? How did you find that first Realtor who was your buyer's agent?
Yeah, so my Realtor, the first time was referred to me and I think I approached that a little bit differently than most people my age are in my age range. At the time my dad worked for a mortgage company in the area and so I was taking a referral based on one of his contacts. I do think most people get referrals from someone they know but usually it seems like people are getting multiple referrals and then looking those people up and deciding who they want to contact. The other one was just me posting on Zillow and seeing what happened.
I'm curious the first, agent was not a Millennial, I'm assuming?
No, he was in his forties or something. One thing that he could have improved on was being more authentic. He had his sales pitch ready to go and was in a suit and that's fine wear a suit if you're comfortable in it. But it felt very much like I was getting sold to, As soon as I realized he had my back and was educating me then I didn't care anything about that. And we're still close today.
This is a question you haven't been asked before, rather than going back to that agent, you went about finding a Realtor differently the second time. Why was that?
He moved out of my market. I would have absolutely sent him my business and not even questioned it. I sent him a lot of business after closing as well because he stayed in touch with me. That was a really cool thing that I know a lot of people do this, but he would like text me, call me every couple months when I first bought the home and just say: "Hey, just checking in, making sure everything's cool." And I'd be like, "Hey, I'm actually looking for an electrician. Do you know somebody?" And he was like, "Yeah, let me send you my guy." And it was just so helpful. And then he checked in at a year and then every year after, maybe even six months. But, it was a nice check in. And then we were also friends on Facebook after that. And so I would see his kids playing soccer on my Newsfeed and it would remind me, "Oh yeah, I've got someone I want to refer to him." So I ended up sending him a lot of business just because we stayed connected like that.
Very good--so it wasn't even the fact that you were always seeing him with his real estate hat on, but just the fact that he was present in the social mediums reminded you that "Oh yeah, there's that. There's my my Realtor."
That's why I believe so strongly and staying connected and building your network as much as possible because if people know that you are someone who is trustworthy and you've built that relationship in some way, again, as soon as you can be in person, whether they ended up going with you or not, if you've shown them that you have that kind of expertise and you're trustworthy, then people are going, and if you stay top of mind with them, they're going to refer you a lot of business because they know that you're someone that that can be trusted and that they would want others to be able to have that experience.
Well, I think a mistake a lot of people make is that, okay, if I'm a real estate agent, then when I am on social media, I need to be talking about real estate and that's the equivalent of like listening to the radio and thinking that you always need to be listening to commercials. Like people actually don't want to always hear about what you do for a living. Sometimes they just want to hear about you playing soccer or being a parent or that you ride horses or whatever. Is, that right? Like they want a human being. True?
Actually a big thing with anyone building a personal brand is that you want to have an element of your expertise in there because that is part of who you are. If you are someone who is all about, buying and selling homes and building wealth through real estate, and that's part of what you're providing. But people also want to connect with you on a human level. And I think with social media and all of these things, we have blurred the line between professional and personal, but it's in a cool way. We are getting to know you. So if your way into Portland coffee shops or whatever, you know that every time I'm in Portland, like how many coffee shops am I going to hit? And if you want to show that to the audience that they have something to connect with. So, I would encourage everyone to really think about what are some of the personal, or what are the things that describe me and how can I communicate that to my audience through these social channels? And it's just about you being in touch with your authentic self in a lot of ways
I love it. That's what branding is all about, right? It's talking about who you are and what your value is in helping other people.
Yeah, exactly. And that's what I love about today's marketing. Really, is it's not about having the right sales tactic. It's about you being yourself and just making sure that you're communicating your value and who you are as a personal way that builds meaningful relationships. So with social media, people feel like we've lost so much touch with humanity. And that's absolutely true. There's so many issues around this, but if you do it right, you can build a meaningful network and a message that has huge impact in a way that they connect in an authentic way and you have to be intentional about that.
Well again, going back to your home buying process. You got referred, he provided excellent service and then he stayed in contact using digital methods, but you met with him in person, which I think, again, this is a bit of a myth. A lot of people think that they actually don't want to be with you in person. Now your second real estate agent was interesting because they came at you with value, right? They didn't come at you selling, because you said that you got all kinds of phone calls, right; People trying to get your listing and you didn't go for that. You went for the one person that communicated with you in a way that was them giving value and letting you communicate with them on your terms, not their terms. Right?
Yeah. I can't tell you how many people I met with that because I was seeing what this was going to be like and kind of testing the waters a little bit. And I felt like so many people were trying to work one over on me and I'm like, "You don't have to do that. Why are you trying to get to it quick and this is what I have. And a lot of people were sharing how they could sell my home or market my home and I'm like, "I can do that myself. You know? I mean, I think that was a big eyeopener too, you're no longer the holder of the listing completely. You're no longer the only marketer. Everyone's a marketer in a way.
I ultimately realized was that going through the transaction is extremely complicated and I needed a guide through that. So what's kind of bad is I, I ended up not having a real estate agent to go through the selling process because I did feel like everyone was trying to sell me so hard and I didn't like any of those experiences. And I had a buyer contact me who also didn't have a real estate agent. So we went through that process without one. And I regretted it so bad. I was such a mess and it was so complicated. I didn't know what was going on. I was trying to do all this research about the contract. And I just felt so lost, but we ultimately got through it. I got through it, but I look back and think, man, that was not smart. If someone had communicated to me, "Hey, this is what's going to be going on. And it's not just about taking the right photo of your house, because I can do that. It's about knowing that you're getting the right deal in place and that you know how to manage these types of deals.
People that want to be sold to people want to be guided, right?
Yes, absolutely. Yeah. I think being known as the go to resource in your community around everything around home. And maybe for you, you do your way around home design or whatever thing that makes you unique--definitely emphasize that. But I think you also want to have the resources in your network to refer people for anything around home and that puts you at the center of your community.
That's awesome. Great stuff. Just in closing, Kristin, if people are thinking, okay, I get the fact that I need to be more present on these social mediums. I know that there's a lot of reluctance for people doing video. I see more and more people being engaged with social media. What platforms would you say people need to pay special attention to? Maybe top three in order. Like number one would be what?
In terms of social media, right? Yeah, I always say number one is Facebook. I mean it's just where everyone is, from all ages and even Millennials and Gen Z are still using Facebook. They're not using it the same way. They're not going through their Newsfeed like older generations are, but they'll use it to look you up. They'll use Facebook Messenger to hit you up and they're using events and things like that in Facebook. So that's still number one. It's also very intuitive and easy to get going on. I personally like Instagram for its usability and I think Millennials and Gen Z, the trends show that is where everyone is spending most of their time. And particularly with Instagram stories, which also can be on Facebook Stories.
But that's where you get that day-to-day authentic self, taking photos at your Portland coffee shop or whatever. And, and that's where people get to know you really well. So I think those are the top two. And then outside of that kind of depends on where your audience is and where you feel most comfortable. For some people that is Twitter, but Twitter is very conversational and I'm very discussion oriented and it kind of depends on how comfortable you feel. Every platform is kind of like its own universe, or own country at least. And you need to feel comfortable in those norms. But a lot of people are doing really well with Pinterest, but Facebook and Instagram are still number one and two in my opinion. What are your thoughts on that, Justin?
I would say probably number three is become, it didn't used to be this way, but I'm giving more special attention to LinkedIn. I totally agree with you. Facebook one, Instagram two. And I would put LinkedIn is number three. I know you have a presence there. I think because real estate agents, in order for them to not be entirely disrupted, and the industry is being disrupted, but their individual business doesn't have to be disrupted. And I think the way out for them, the way forward is to be more of a professional than less of a professional. And I think part of that is starting to act like a professional and showing up as a guide, as a professional within Linkedin. I think is part of that. That's why I say that one.
Yeah, that's a good point. I mean, I always advocate for LinkedIn with loan officers but in working directly consumers, I hadn't thought about that as much. But I think that as a community, someone that is an advocate in your community and someone who's, you know, building those kinds of community resources, that becomes so important. So, at least at a minimum, having a profile show that you're just a professional and that you are who you are because people will look you up there. Also it allows me to build relationships with other professionals in your community. That would be really important.
I typically don't go this long, but I love the conversation. So if you've got two more minutes to talk about one more topic, I want to hit it. You okay?
Yeah.
Okay, so you and I had this conversation after you spoke in Portland about a pretty controversial statement that Gary Vaynerchuk has said that he didn't know if it made sense for people to buy a home. I know Grant Cardone, who is another big mentor of mine, has said something similarly as well. What's your take on that? Good advice?
I think it reflects a couple of things. One, he had mentioned something about not wanting to invest 20% down on a home and that you instead need to diversify and all that kind of stuff. Or not be tying up your cash like that. And I think that reflects the fact that he didn't understand or didn't think of that you could put way less than that down on a home and it shows the need for education and promoting that. Also I think it does show a shift in expectations and how millennials are thinking too. I mean, he leads a lot of the trends and in terms of customer expectations and, and talking about that. And then I think it reflects that we are not just thinking about home ownership as the American dream or as the next stage in our life. We're thinking, we need to think about or talk about home ownership as a good investment and why that would be a good investment. And so thinking outside the box in terms of how we communicate homeownership and the value of homeownership, I think it's really important for Millennials who are always on the go or who can move easily and don't want to feel tied down, we need to talk about you can buy a home and you can airbnb it out if you want to. I'm in downtown Los Angeles and there's just always sirens coming through. But anyway, that's where my thoughts are on that.
I appreciate you asking. I think if one is looking at some of the things that you mentioned, simply to be free and not tied down, that may make sense, but from a wealth building standpoint, the statistics are irrefutable that those that own real estate, end up with far superior wealth and those that don't. I think part of that, what at least Greg Cardone is talking about, is rent for less and then invest the money. The problem is society has proven that it's not good at saving without it being a forced savings plan. If you were to rent for less, which I don't know, it depends on what market you're in. If that's actually a reality and you actually invest the rest, then that would work. However, with a mortgage you're forced to save money or you lose your house. And so I think if people were awesome savers in general and really good at reinvesting the money in higher return assets, then that might be good advice. But I think it's really bad advice because most people, rather than putting that money in some longterm savings vehicle, they'll put it in the shiny new gadget.
So I think that's a good perspective on that macro level. And I think even on communicating this individually with people in your networks. It really is a good way to build wealth and we need to communicate that and show for you individually, this is what it would look like over the next five years for you to own a home and for someone to tangibly see that, that makes a huge difference too.
Well, those goes back to exactly what you think Millennials want, right? You are saying they want is to be left with true knowledge and data and what a great opportunity for real estate agents, not even just on a one on one but start doing videos about the value of wealth, taking the statistics of people that don't own real estate versus those that do. It's dramatic. I think there's a great opportunity to really be a leader when it comes to that kind of content to be sharing with people. Despite what maybe these digital media figureheads are saying, here's the reality of those that do and those that don't.
You think about today's market where we have a an app for everything. We have so much noise on social media. We can Google search any question we have, but we are in total chaos. I mean you do that and we still don't know the first thing. We are looking for someone who is going to come along and say, "Hey, let me simplify this for you. Let's talk through this together. Let me empower you as the consumer to have the best knowledge and advice that is best for you. So it's about, this is what's best for everyone. This is about me helping to empower you as a consumer."
You're right, there may be some people out there for whom it really does make sense to not own, right? I think you're right, that's where it goes from being able to Google something to being able to sit down with a professional guide that can say, "Tell me your situation," very similar to what your real estate agent did. "What do you actually want to achieve?" Then they can give customized advice that's actually good for you. Not just good for the macro but good for your specific life." I love it. I absolutely love this conversation. Kristin, you're super bright, doing some great things and I look forward to our next conversation. I want to thank you again for all that you've contributed to this audience, the Think Bigger Real Estate audience.
I look forward to our next conversation. And one more thing. Let me put up here if some of the audience here are wondering how they get in contact with Kristin. Her name's been up on the screen the entire show, so go look at that and find her on LinkedIn and then here is her website, culturaloutreach.com. She helps bridge the generational gap as well as helps underserved communities when it comes to the whole real estate process--just constant value. She's a fantastic public speaker. I firsthand can attest to that and I'm excited for the difference and impact that she's going to continue to make in the lives a lot of people. So, thank you. It's been my pleasure. All and we will catch up on the next one. Everybody, thanks again for tuning in.
Thank you so much for having me, Justin. Great to be here.
Great to have you. So I actually met Kristin a couple of weeks ago. She spoke here in Portland at the Oregon Mortgage Broker's Association and I was super impressed. I thought, this is knowledge that more people need to know about. The room was packed, but I'm excited to get this content, and her mission really, out to more people. So let's talk about this a little bit, Kristen. I think that you have spoken on the biggest stages, including Gary V's, big event. I know you're touring around the country sharing this knowledge. Let's dig into a little bit about maybe some of the myths that are utilized to characterize how millennials want to be treated. Is it true that they actually don't want to talk to anybody? They don't want to meet with anybody? They just want to text and use Facebook messenger?
Definitely not. I think that this is something I'm so passionate about because I think people assume that because Millennials are using social media, are texting, want convenient and have access to things, that we don't want the human touch. And we really want to have someone that is going to guide us through this process. I mean, buying a home for the first time, making the biggest financial decision of our lives, we want someone that is going to to help guide us through that process. And I think that texting and convenient communication, Facebook Messenger, all those kinds of things are important to get the communication going and for quick communication, but technology should always be about enhancing the relationship and increasing that kind of connection with your buyer, particularly someone who's a first time buyer and for Millennials, we're seeing that trend even more so with Gen Z where they want that individual relationship with a person or brand. They want to feel like they can trust that person. I think that we miss that a lot of times when we think about our generation.
I love it. So, two big potential risks here is number one, Millennials are underserved, right? That they aren't getting the level of service that they want because of these stereotypes. And number two, that real estate agents are missing a huge opportunity because they're assuming that they want to be treated a certain way and we're giving them something else. So I really appreciate you clarifying that. There are some forms of quick and convenient communication, but it shouldn't stop with that. Is what I'm hearing you say?
Yeah, exactly. I do think it is shocking how much Millennials, well-off Millennials--successful Millennials--don't know anything about buying a home where, or who to talk to about it. And I think there's just this huge gap between them feeling like they know someone who is an expert in that, who is a real estate agent for instance, that they feel comfortable enough to reach out to and not be immediately sold to, not feel like they are stupid for not knowing these things, you know? So I think that element of being underserved, it really is a big deal when we talk about our generation. I think that it doesn't stop with a quick text or with more social media in any respect. It's using that as a way to build your network and provide convenient access to you and then going from there to a person-to-person or video kind of communication that really improves that trust and relationship.
I love it. Let's talk about this now: I know you've been a buyer, in addition to being the founder of Cultural Outreach, I know you're also the editor of Mortgage Women Magazine. So again, you're involved in a lot of places really influencing. Let's talk about even your personal scenario. I know you've been a buyer and a seller before and you described to me how some people tried to earn your business and it didn't work very well. Talk to us about that.
Yeah, so it was interesting because when I bought my home, this is about six years ago or so, maybe seven years now, I remember going through that process and how my real estate agent and I had a sit down at the beginning and I honestly didn't even really vibe with him that much. I thought this guy is like a typical salesman, whatever. But when we started going through the process a little bit, I realized, man, he really knows his stuff. He is educating me on all these things that I feel like I could reach out to him about anything about buying a home. I mean, if he didn't know, he was going to know someone who knew. And so that was super valuable to me. And then also when we were going through looking at homes, he would point out stuff by saying: I know your goals are X and Y, so I don't know if this home is a good fit for you.
So he had my goals in mind and I felt like he had my back. So from that point on, I was totally sold on him. But when I was selling my home I posted something about it and I had already started the business. I wanted to know how real estate agents would reach out to me and, and that kind of thing. And I put my home up on Zillow and I got a million phone calls and I was so annoyed by all of that. And a couple people texted me and said, "Hey, are you available, or can you jump on a call to talk about this?" And then I would respond to the text messages. And one in particular stood out where she sent me a first-time home buyer guide, or rather, it was a seller's guide. And, she texted that over and then said, "Hey, here's a resource for you. Let's chat when you have a second." And I thought, okay, this is the right way where t's convenient for me to schedule something. I don't drop everything to pick up a call and get sold to. And then I'm more prepared, you know. So I think that that was a good example of using technology to get to the relationship.
I'm going to dissect this a little bit. So I think this is super fascinating and it's a perfect case study, right? So you went to buy a home and you found that person. Were they referred to you? How did you find that first Realtor who was your buyer's agent?
Yeah, so my Realtor, the first time was referred to me and I think I approached that a little bit differently than most people my age are in my age range. At the time my dad worked for a mortgage company in the area and so I was taking a referral based on one of his contacts. I do think most people get referrals from someone they know but usually it seems like people are getting multiple referrals and then looking those people up and deciding who they want to contact. The other one was just me posting on Zillow and seeing what happened.
I'm curious the first, agent was not a Millennial, I'm assuming?
No, he was in his forties or something. One thing that he could have improved on was being more authentic. He had his sales pitch ready to go and was in a suit and that's fine wear a suit if you're comfortable in it. But it felt very much like I was getting sold to, As soon as I realized he had my back and was educating me then I didn't care anything about that. And we're still close today.
This is a question you haven't been asked before, rather than going back to that agent, you went about finding a Realtor differently the second time. Why was that?
He moved out of my market. I would have absolutely sent him my business and not even questioned it. I sent him a lot of business after closing as well because he stayed in touch with me. That was a really cool thing that I know a lot of people do this, but he would like text me, call me every couple months when I first bought the home and just say: "Hey, just checking in, making sure everything's cool." And I'd be like, "Hey, I'm actually looking for an electrician. Do you know somebody?" And he was like, "Yeah, let me send you my guy." And it was just so helpful. And then he checked in at a year and then every year after, maybe even six months. But, it was a nice check in. And then we were also friends on Facebook after that. And so I would see his kids playing soccer on my Newsfeed and it would remind me, "Oh yeah, I've got someone I want to refer to him." So I ended up sending him a lot of business just because we stayed connected like that.
Very good--so it wasn't even the fact that you were always seeing him with his real estate hat on, but just the fact that he was present in the social mediums reminded you that "Oh yeah, there's that. There's my my Realtor."
That's why I believe so strongly and staying connected and building your network as much as possible because if people know that you are someone who is trustworthy and you've built that relationship in some way, again, as soon as you can be in person, whether they ended up going with you or not, if you've shown them that you have that kind of expertise and you're trustworthy, then people are going, and if you stay top of mind with them, they're going to refer you a lot of business because they know that you're someone that that can be trusted and that they would want others to be able to have that experience.
Well, I think a mistake a lot of people make is that, okay, if I'm a real estate agent, then when I am on social media, I need to be talking about real estate and that's the equivalent of like listening to the radio and thinking that you always need to be listening to commercials. Like people actually don't want to always hear about what you do for a living. Sometimes they just want to hear about you playing soccer or being a parent or that you ride horses or whatever. Is, that right? Like they want a human being. True?
Actually a big thing with anyone building a personal brand is that you want to have an element of your expertise in there because that is part of who you are. If you are someone who is all about, buying and selling homes and building wealth through real estate, and that's part of what you're providing. But people also want to connect with you on a human level. And I think with social media and all of these things, we have blurred the line between professional and personal, but it's in a cool way. We are getting to know you. So if your way into Portland coffee shops or whatever, you know that every time I'm in Portland, like how many coffee shops am I going to hit? And if you want to show that to the audience that they have something to connect with. So, I would encourage everyone to really think about what are some of the personal, or what are the things that describe me and how can I communicate that to my audience through these social channels? And it's just about you being in touch with your authentic self in a lot of ways
I love it. That's what branding is all about, right? It's talking about who you are and what your value is in helping other people.
Yeah, exactly. And that's what I love about today's marketing. Really, is it's not about having the right sales tactic. It's about you being yourself and just making sure that you're communicating your value and who you are as a personal way that builds meaningful relationships. So with social media, people feel like we've lost so much touch with humanity. And that's absolutely true. There's so many issues around this, but if you do it right, you can build a meaningful network and a message that has huge impact in a way that they connect in an authentic way and you have to be intentional about that.
Well again, going back to your home buying process. You got referred, he provided excellent service and then he stayed in contact using digital methods, but you met with him in person, which I think, again, this is a bit of a myth. A lot of people think that they actually don't want to be with you in person. Now your second real estate agent was interesting because they came at you with value, right? They didn't come at you selling, because you said that you got all kinds of phone calls, right; People trying to get your listing and you didn't go for that. You went for the one person that communicated with you in a way that was them giving value and letting you communicate with them on your terms, not their terms. Right?
Yeah. I can't tell you how many people I met with that because I was seeing what this was going to be like and kind of testing the waters a little bit. And I felt like so many people were trying to work one over on me and I'm like, "You don't have to do that. Why are you trying to get to it quick and this is what I have. And a lot of people were sharing how they could sell my home or market my home and I'm like, "I can do that myself. You know? I mean, I think that was a big eyeopener too, you're no longer the holder of the listing completely. You're no longer the only marketer. Everyone's a marketer in a way.
I ultimately realized was that going through the transaction is extremely complicated and I needed a guide through that. So what's kind of bad is I, I ended up not having a real estate agent to go through the selling process because I did feel like everyone was trying to sell me so hard and I didn't like any of those experiences. And I had a buyer contact me who also didn't have a real estate agent. So we went through that process without one. And I regretted it so bad. I was such a mess and it was so complicated. I didn't know what was going on. I was trying to do all this research about the contract. And I just felt so lost, but we ultimately got through it. I got through it, but I look back and think, man, that was not smart. If someone had communicated to me, "Hey, this is what's going to be going on. And it's not just about taking the right photo of your house, because I can do that. It's about knowing that you're getting the right deal in place and that you know how to manage these types of deals.
People that want to be sold to people want to be guided, right?
Yes, absolutely. Yeah. I think being known as the go to resource in your community around everything around home. And maybe for you, you do your way around home design or whatever thing that makes you unique--definitely emphasize that. But I think you also want to have the resources in your network to refer people for anything around home and that puts you at the center of your community.
That's awesome. Great stuff. Just in closing, Kristin, if people are thinking, okay, I get the fact that I need to be more present on these social mediums. I know that there's a lot of reluctance for people doing video. I see more and more people being engaged with social media. What platforms would you say people need to pay special attention to? Maybe top three in order. Like number one would be what?
In terms of social media, right? Yeah, I always say number one is Facebook. I mean it's just where everyone is, from all ages and even Millennials and Gen Z are still using Facebook. They're not using it the same way. They're not going through their Newsfeed like older generations are, but they'll use it to look you up. They'll use Facebook Messenger to hit you up and they're using events and things like that in Facebook. So that's still number one. It's also very intuitive and easy to get going on. I personally like Instagram for its usability and I think Millennials and Gen Z, the trends show that is where everyone is spending most of their time. And particularly with Instagram stories, which also can be on Facebook Stories.
But that's where you get that day-to-day authentic self, taking photos at your Portland coffee shop or whatever. And, and that's where people get to know you really well. So I think those are the top two. And then outside of that kind of depends on where your audience is and where you feel most comfortable. For some people that is Twitter, but Twitter is very conversational and I'm very discussion oriented and it kind of depends on how comfortable you feel. Every platform is kind of like its own universe, or own country at least. And you need to feel comfortable in those norms. But a lot of people are doing really well with Pinterest, but Facebook and Instagram are still number one and two in my opinion. What are your thoughts on that, Justin?
I would say probably number three is become, it didn't used to be this way, but I'm giving more special attention to LinkedIn. I totally agree with you. Facebook one, Instagram two. And I would put LinkedIn is number three. I know you have a presence there. I think because real estate agents, in order for them to not be entirely disrupted, and the industry is being disrupted, but their individual business doesn't have to be disrupted. And I think the way out for them, the way forward is to be more of a professional than less of a professional. And I think part of that is starting to act like a professional and showing up as a guide, as a professional within Linkedin. I think is part of that. That's why I say that one.
Yeah, that's a good point. I mean, I always advocate for LinkedIn with loan officers but in working directly consumers, I hadn't thought about that as much. But I think that as a community, someone that is an advocate in your community and someone who's, you know, building those kinds of community resources, that becomes so important. So, at least at a minimum, having a profile show that you're just a professional and that you are who you are because people will look you up there. Also it allows me to build relationships with other professionals in your community. That would be really important.
I typically don't go this long, but I love the conversation. So if you've got two more minutes to talk about one more topic, I want to hit it. You okay?
Yeah.
Okay, so you and I had this conversation after you spoke in Portland about a pretty controversial statement that Gary Vaynerchuk has said that he didn't know if it made sense for people to buy a home. I know Grant Cardone, who is another big mentor of mine, has said something similarly as well. What's your take on that? Good advice?
I think it reflects a couple of things. One, he had mentioned something about not wanting to invest 20% down on a home and that you instead need to diversify and all that kind of stuff. Or not be tying up your cash like that. And I think that reflects the fact that he didn't understand or didn't think of that you could put way less than that down on a home and it shows the need for education and promoting that. Also I think it does show a shift in expectations and how millennials are thinking too. I mean, he leads a lot of the trends and in terms of customer expectations and, and talking about that. And then I think it reflects that we are not just thinking about home ownership as the American dream or as the next stage in our life. We're thinking, we need to think about or talk about home ownership as a good investment and why that would be a good investment. And so thinking outside the box in terms of how we communicate homeownership and the value of homeownership, I think it's really important for Millennials who are always on the go or who can move easily and don't want to feel tied down, we need to talk about you can buy a home and you can airbnb it out if you want to. I'm in downtown Los Angeles and there's just always sirens coming through. But anyway, that's where my thoughts are on that.
I appreciate you asking. I think if one is looking at some of the things that you mentioned, simply to be free and not tied down, that may make sense, but from a wealth building standpoint, the statistics are irrefutable that those that own real estate, end up with far superior wealth and those that don't. I think part of that, what at least Greg Cardone is talking about, is rent for less and then invest the money. The problem is society has proven that it's not good at saving without it being a forced savings plan. If you were to rent for less, which I don't know, it depends on what market you're in. If that's actually a reality and you actually invest the rest, then that would work. However, with a mortgage you're forced to save money or you lose your house. And so I think if people were awesome savers in general and really good at reinvesting the money in higher return assets, then that might be good advice. But I think it's really bad advice because most people, rather than putting that money in some longterm savings vehicle, they'll put it in the shiny new gadget.
So I think that's a good perspective on that macro level. And I think even on communicating this individually with people in your networks. It really is a good way to build wealth and we need to communicate that and show for you individually, this is what it would look like over the next five years for you to own a home and for someone to tangibly see that, that makes a huge difference too.
Well, those goes back to exactly what you think Millennials want, right? You are saying they want is to be left with true knowledge and data and what a great opportunity for real estate agents, not even just on a one on one but start doing videos about the value of wealth, taking the statistics of people that don't own real estate versus those that do. It's dramatic. I think there's a great opportunity to really be a leader when it comes to that kind of content to be sharing with people. Despite what maybe these digital media figureheads are saying, here's the reality of those that do and those that don't.
You think about today's market where we have a an app for everything. We have so much noise on social media. We can Google search any question we have, but we are in total chaos. I mean you do that and we still don't know the first thing. We are looking for someone who is going to come along and say, "Hey, let me simplify this for you. Let's talk through this together. Let me empower you as the consumer to have the best knowledge and advice that is best for you. So it's about, this is what's best for everyone. This is about me helping to empower you as a consumer."
You're right, there may be some people out there for whom it really does make sense to not own, right? I think you're right, that's where it goes from being able to Google something to being able to sit down with a professional guide that can say, "Tell me your situation," very similar to what your real estate agent did. "What do you actually want to achieve?" Then they can give customized advice that's actually good for you. Not just good for the macro but good for your specific life." I love it. I absolutely love this conversation. Kristin, you're super bright, doing some great things and I look forward to our next conversation. I want to thank you again for all that you've contributed to this audience, the Think Bigger Real Estate audience.
I look forward to our next conversation. And one more thing. Let me put up here if some of the audience here are wondering how they get in contact with Kristin. Her name's been up on the screen the entire show, so go look at that and find her on LinkedIn and then here is her website, culturaloutreach.com. She helps bridge the generational gap as well as helps underserved communities when it comes to the whole real estate process--just constant value. She's a fantastic public speaker. I firsthand can attest to that and I'm excited for the difference and impact that she's going to continue to make in the lives a lot of people. So, thank you. It's been my pleasure. All and we will catch up on the next one. Everybody, thanks again for tuning in.
Creators and Guests
Host
Justin Stoddart
What is Think Bigger Real Estate?
The road to success for real estate agents is well-marked. The road to significance is not. Here, we help you to Think Bigger than just your business. We inspire you to seek success AND significance, income AND impact. We do that by interviewing the biggest thinkers and highest achievers in the real estate industry, extracting the secrets to having it all.