How This Vegas Realtor Closed 226 Deals Without a License | Johnny Richardson DSH #947

Summary

Digital Social Hour: How This Vegas Realtor Closed 226 Deals Without a License | Johnny Richardson | DSH #947

Host: Sean Kelly
Guest: Johnny Richardson
Release Date: December 3, 2024

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Introduction

In episode #947 of Digital Social Hour, host Sean Kelly welcomes Johnny Richardson, a top-performing realtor from Las Vegas, who shares his extraordinary journey of closing 226 real estate deals without initially holding a license. The conversation delves into Johnny’s innovative business strategies, his insights on the evolving real estate market, and his relentless work ethic that has positioned him as a leader in the industry.

Early Career and Initial Success

Johnny begins by recounting his unconventional start in real estate. Without a license, he partnered with an established agent to navigate the industry. This strategic move allowed him to close his first deal and receive his commission even before obtaining his official license.

Johnny Richardson [00:01]: "I partnered with an agent. I said, look, I don't have a license, but I got a deal. So I partnered with him... Commission check showed up on my desk probably a week before my license and I was off to the races."

His determination paid off, and in his first year (2017), Johnny closed 45 deals, significantly surpassing the national average of 6.7 deals per realtor.

Johnny Richardson [02:37]: "First year, 45 deals and build it up since."

Navigating the Real Estate Market

Sean and Johnny discuss the fluctuating real estate market, addressing common concerns about market stability. Johnny emphasizes the importance of adaptability and leveraging one's database to remain successful regardless of market conditions.

Johnny Richardson [00:37]: "A good real estate agent, as long as you have a database, people you're working with, you're very intentional. You're always going to do well."

He highlights that real estate is a resilient industry, capable of weathering various economic conditions by shifting strategies such as investing in different property types or exploring multifamily homes.

Building and Scaling Teams

Johnny shares his experience in scaling his business by founding his own title company, Clark County Title, in partnership with Magnus from Arizona. Contrary to the typical one-year wait for profitability in the industry, Johnny's company turned a profit within 90 days by aggressively hitting the ground running.

Johnny Richardson [03:51]: "We put that company in profits within 90 days."

Expanding his influence, Johnny manages multiple teams across different states, currently overseeing 156 agents in Las Vegas, with additional teams in California and plans for Miami. His approach focuses on training agents internally, fostering a collaborative environment rather than fostering competition.

Johnny Richardson [11:21]: "I own the Richardson Group Company within a company... show them how to duplicate it, continue making money with him."

Real Broker vs. EXP Realty

A significant portion of the discussion centers on Johnny’s decision to partner with Real Broker LLC over EXP Realty. He contrasts the two models, praising Real Broker’s requirement for agents to be active producers to benefit from their revenue-sharing model. This ensures that only committed agents remain, fostering a more productive and sustainable business environment.

Johnny Richardson [14:23]: "On the real side you have your wife, she's at home taking care of the kids. It's pretty cool."

Johnny criticizes EXP Realty for attracting part-time agents who may not contribute significantly to the company's success, ultimately diminishing the overall quality and productivity of the brokerage.

Impact of Commission Law Changes

The conversation shifts to recent changes in commission laws effective August 17th, which have removed commission advertisements from the MLS. Johnny explains how these changes empower agents to justify their value to clients, ensuring that agents are compensated fairly for their services.

Johnny Richardson [21:14]: "It's changed... Now the person literally has to hire you, almost like a lawyer."

He discusses the challenges sellers face with these new regulations, particularly those needing to sell quickly who can no longer offer monetary incentives to agents.

Johnny Richardson [24:00]: "If you're not doing this, you're not building yourself... quality people want to spend time around quality people."

Work Ethic and Personal Development

Johnny's relentless work ethic is a testament to his success. He describes his daily routine, which begins at 4 AM with training and continues with client appointments, events, and property showings throughout the day. His commitment extends beyond regular working hours, driven by a passion for building his business and helping clients.

Johnny Richardson [06:35]: "I don't stop. I'm pretty much addicted at the end of the day. I love what I do."

He underscores the significance of personal development, advocating for continuous learning and self-improvement over passive activities like watching television. This mindset not only enhances his professional skills but also fosters a strong, intentional approach to business.

Johnny Richardson [07:32]: "Spending your off time on personal development is what separates you from other entrepreneurs and real estate people."

Coaching and Future Endeavors

Expanding his expertise, Johnny has ventured into coaching, leveraging his success to train other agents across various states. He collaborates with Brett Tanner to refine his strategies in the wholesale market, enabling agents to replicate his success effectively.

Johnny Richardson [30:37]: "I train with Brett Tanner... how to construct the deal at that point, what the numbers look like and off to the races."

Looking ahead, Johnny plans to amplify his operations by enhancing administrative support, allowing his teams to scale further. Additionally, he is investing in event spaces to host networking events, fostering a community of like-minded professionals committed to excellence.

Johnny Richardson [32:03]: "We're going to do the event every quarter... it's living life with intention."

Market Insights and Adaptability

Johnny provides valuable insights into the Las Vegas real estate market, highlighting the significant influx of residents from states like California and Florida. He emphasizes the necessity of creativity and market knowledge in such a dynamic environment, advising clients to work with agents deeply embedded in the local community to secure desirable deals.

Johnny Richardson [26:33]: "If you're dealing with a real estate agent in Vegas... you're going to get more of what you want."

Conclusion

Johnny Richardson's story is a powerful example of how innovation, relentless work ethic, and strategic partnerships can lead to extraordinary success in the real estate industry. His ability to adapt to market changes, build and scale effective teams, and invest in personal and professional development sets him apart as a leader worth emulating. Sean Kelly and Johnny conclude the episode by encouraging listeners to pursue excellence with intention and to continuously seek growth opportunities within their own businesses.

Johnny Richardson [33:12]: "It's all about mindset at the end of the day... you're going to be successful."

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Key Takeaways:

• Strategic Partnerships: Collaborating with experienced agents can accelerate career growth, even without initial licensing.
• Adaptability: Success in real estate requires flexibility and the ability to pivot strategies based on market conditions.
• Scaling Effectively: Building strong support systems and administrative staff are crucial for managing and expanding large teams.
• Commitment to Excellence: A relentless work ethic and dedication to personal development are essential for sustained success.
• Market Insights: Deep understanding of local market dynamics and proactive networking can significantly enhance deal-making capabilities.

Notable Quotes:

• Johnny Richardson [00:01]: "Commission check showed up on my desk probably a week before my license and I was off to the races."
• Johnny Richardson [03:51]: "We put that company in profits within 90 days."
• Johnny Richardson [14:23]: "On the real side you have your wife, she's at home taking care of the kids. It's pretty cool."
• Johnny Richardson [06:35]: "I don't stop. I'm pretty much addicted at the end of the day. I love what I do."
• Johnny Richardson [33:12]: "It's all about mindset at the end of the day... you're going to be successful."

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For more insights and updates from Johnny Richardson, follow him on Instagram and join his live Zoom calls. Stay tuned to Digital Social Hour for more inspiring conversations with industry leaders.

Transcript

[A]

Crazy, right?

[B]

Yeah.

[A]

So I partnered with an agent. I said, look, I don't have a license, but I got a deal. So I partnered with him. They took me through the ropes. Commission closed it out. Commission check showed up on my desk probably a week before my license and I was off to the races. Just like everything out there. I was like, okay, let me just do this over and over and over. I walked out. First year, 45 deals and build it up since.

[B]

All right, guys, we're talking real estate. We got Johnny Richardson here today. Thanks for coming on, man.

[A]

Absolutely. Thanks for having me. Yeah, I'm excited.

[B]

A lot of information coming out on whether the market's gonna rise or fall. How are you feeling?

[A]

That's true. I'll tell you what, a lot of real estate agents, they ask that question all the time. Are we going to fall apart? Are we going to go up? A good real estate agent, as long as you have a database, people you're working with, you're very intentional. You're always going to do well. Now, are market conditions going to change? They are. I this conversation with somebody at Turnberry the other day, they were like, well, if interest rates weren't so high, if inventory wasn't so low, when was real estate ever perfect? It never is.

[B]

Right.

[A]

And what you're doing is you're just figuring out which side, which side of the wave to ride on at that time. So is it, Do I need to look into investing? Do I need to look into some owner carry options? Do I need to look into multifamily homes and says single family homes? Whatever the direction is, real estate's gonna, I mean, take a look over the last 20 years. For the last 20 years, interest rates at one point they went up to 18. A little bit more than 20, but. And people are going nuts now. They go nuts over seven.

[B]

Yeah.

[A]

Just find a place to ride. It's not like it's going to fall apart. Especially here in Vegas, people got so.

[B]

Used to the 2 to 4%.

[A]

Yeah, yeah. They get comfortable and everything else they see, that's just like anything. You don't miss it till you lose it.

[B]

Yeah.

[A]

You know? Yeah. They got a taste of like, I'm waiting till it comes back. It's not coming back.

[B]

Yeah.

[A]

It's just not going to happen.

[B]

For real. And you close 45 deals in a year, right?

[A]

Yeah. So that there, that was my first year in real estate was 2017. So if you take a look at the average realtor across the US does 6.7 deals. So now you got your part timers, your single parents, stuff like that all mixed in there. Now, I think if getting started in real estate, if you're not closing 12 within your first year, I mean, you're not taking it serious. I came in, I'll never forget this. My license even show up to my broker's office, and I said, I don't care. I'm burning the boats, man. I'm going to be in here. I know how to work a database. It's. This is just like any other business. Started blowing up the phones, telling people what I'm doing, and asking for referrals. I got my first referral, first deal, before my license showed up.

[B]

Wow.

[A]

Crazy, right?

[B]

Yeah.

[A]

So I partnered with an agent. I said, look, I don't have a license, but I got a deal. So I partnered with him. They took me through the ropes. Commission closed it out. Commission check showed up on my desk probably a week before my license, and I was off to the races. Just like everything out there. I was like, okay, let me just do this over and over and over. And I walked out. First year, 45 deals and build it up six.

[B]

You're one of the top guys in Vegas, right?

[A]

Yeah, yeah, definitely. That's impressive.

[B]

Yeah. There's some big ones out here. I know John Gafford's pretty big.

[A]

John. John's an amazing person. Simply Vegas. Yeah, John very well.

[B]

I think he's what, second biggest out here?

[A]

Yeah.

[B]

A billion dollars last year. Crazy.

[A]

Crushed it.

[B]

Nuts. And you just started your own title company, right?

[A]

Yeah. So started own title company. That's about a year plus Clark county title. So what we did was we partnered with Magnus out of Arizona, So they crushed the market in Arizona, and there's some JV models enter in Vegas. And I wanted to wait for Magnus because I knew they had a strong structure, so I went ahead and did that with a couple partners of mine, so. And then when we turned that as far as LLC is Clark county title. Now, most title companies, when they open up, they got about a year run before they see profits.

[B]

Wow.

[A]

We put that company in profits within 90 days.

[B]

Holy crap.

[A]

Yeah, we went hit the ground running. We weren't messing around. And now we're running event space with our title company. And all we're doing is providing more value to agents that come and attend these events. And the whole idea is to help them gain more business while some agents are not succeeding out there and showing them the things that we're doing. And obviously what we're looking out of it be Transparent. We want more business to our title company.

[B]

Smart. Having those events in the office.

[A]

Absolutely.

[B]

Yeah. That's what I do, too. I have networking events.

[A]

Yeah, no, I've been to a couple of them. They're amazing. Every time I've been to your events, I meet amazing people. I mean, that's what it's all about. It's like, what's your space look like when you go out? Look around the room. Who are you spending time with? I mean, that's any business. Real estate, title, mortgages, cryptocurrency, whatever. Who's around the table while you're hanging out? You know what I mean? Your events are great.

[B]

Thank you.

[A]

Your database is nuts.

[B]

Yeah, I've. I've had some of the top real estate guys on the show, like Grant Cardone and Ryan Sirhan, and I've noticed they're really good at networking.

[A]

Yes, definitely. I love Ryan's stuff. I read his book, so sell like Sirhan.

[B]

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[A]

So I, I don't watch. I didn't have a TV in my house for like four, four years intentionally just to not be distracted. So I always knew of him. I never watched him read his book. And I mean he keeps it very simple. At the end of the day, talks about his 1, 2, 3 balls. It's like who you spending most of your time with going after them, helping those clients provide him value. At the end of the day if you read that book, he keeps it very simple and he works really hard. I mean, he's an awesome guy. A lot of respect for that.

[B]

Yeah. Shout out to Ryan. And your work ethic is.

[A]

Thank you.

[B]

Almost the same as his, I'd say, if not better. How, how many hours a day are you working right now?

[A]

I mean, I don't stop. And the reason why people ask me all the time, they're like, Johnny, like, what's the deal here? Even my coaches are like, you got to slow down. Yeah, I'm. I'm pretty much addicted at the end of the day. I love what I do. So I'm up every day at 4 o'clock in the morning with my trainer at 5, I bust it with her back at the house, in the office between 7:30 to 8:00 running. I'm running appointments. I do client events, whether it's small dinner event or a lunch event that day or getting ready for the bigger event, doing as far as my luxury side, as far as whether I'm showing properties that day. And if I finish up at 6 o'clock and I have a gap in there, even my coaches will say, go home. I don't, I'm like, what else can I get my hands into? It's like, seriously, I just, what's the point? Do I sit around, watch tv? Am I going to watch Modern Family? No, no. I'd rather be building something and helping somebody. That's how I've been able to do this.

[B]

Yeah. I think spending your off time on personal development is what separates you from other entrepreneurs and real estate people. Right?

[A]

Definitely.

[B]

Yeah. I do the same thing when I'm not podcasting, I'm working on myself.

[A]

Yeah, exactly. It's like, I mean, it makes no sense. I talk to people. As far as reading books or why read this? I'm like, let me ask you a question. What are you getting out of this romantic novel? I mean, great story. I mean, where is it taking you to. Probably more sad that you don't have that life, to be honest. Why don't you work on something that makes you a better version? But 100, right?

[B]

Yeah.

[A]

All in.

[B]

I've never read a fiction book, actually.

[A]

No, me neither.

[B]

Yeah, I know people that do, but I see it more as an escape. I wouldn't read that to learn.

[A]

Yeah, I'm with you. 100.

[B]

Yeah, but those non fiction books, man. Oh, I cranked those 2x speed audible.

[A]

No, there you go, man. You're up there. 2X, I think's on fire.

[B]

What are you up.

[A]

Yeah, I'm 1.5.

[B]

Okay. I do 1 5. If it's a fast talker.

[A]

Yeah, yeah, yeah. I'll do 15 for it. I found when I get up there higher and I've done it, I'm not absorbing enough. I'm not. If I. My attention goes here for one second, it's like, what?

[B]

What?

[A]

Did he just say that? So I was like, let me make sure I get this.

[B]

That's how I feel about, like, 22, 25. It's like, all right, I'm just trying to cheat at this point, you know?

[A]

Yeah. At that point, you're like, look at me, I'm bad.

[B]

You listen to any podcast or any.

[A]

YouTubers as far as podcast goes? Big fan of Bradley. I have personal relationships with Bradley as far as obviously yours as well at the same time. So I know I just ended up being local. Albert Preado as well. Watch his stuff. People I like to follow. I'll tell you as far as not as much of podcast, Tim Grover. I'm a big fan of anybody that's spending time where the people I just mentioned with entrepreneurs that are doing better things are looking to do something amazing. I talked to realtors. I explained to them, I said, look, you don't have to stay in this real estate bubble. There are so many people that are building businesses. If you pay attention to podcasts like this one right here, you can take pieces out what they've done in their business and pull it over here, and you'll be amazed what it does. I mean, don't do what everybody else is doing. If you're parking in the same parking spot as everybody else, same area as the mall, why don't you park in a different spot and see what it does your business? That's why I live by Forever Nice. And I love listening to people on your podcast and so on and so forth that are doing things and have these incredible ideas. I'm like, that would be great in real estate.

[B]

Right? So that being said, do you think you could take your skills into another market and succeed?

[A]

Oh, 100%. I mean, if you threw me on a jet right now and dropped me in South. Well, I grew up in South Jersey or New York or whatever it might be and say, johnny, here's the deal. I'm giving you 200 bucks to figure it out, get out there, get some real estate done. 100%.

[B]

There's a show about that.

[A]

Yeah, yeah.

[B]

Grant Cardone.

[A]

Grant Cardone.

[B]

Yeah.

[A]

They did one with him.

[B]

Yeah. So zero to four and a half million dollars, and I think a Month or something. Crazy.

[A]

Yeah, it was a crazy number. But that goes to show you it can be done if you have skill sets. Not like it's in this bubble in Las Vegas. Once you go out, you're a nobody. Absolutely not. You have those skills. That's why I explained to people, even when they come from a different industry, I'm like, you guys close this book and come to real estate like it's a whole new thing. What are you doing? You're building a community. You're working with people. You're intentional, you're providing value. Don't you do that in other businesses. Just continue it here. Stop letting everything else clog up your memory.

[B]

Right.

[A]

Do now if you shifted here and we drop you in Texas or New York, do it again. And that's how I've been able to build teams in other areas.

[B]

Nice. How big's your team right now?

[A]

So right now and here in Vegas, I have 156 agents.

[B]

Damn.

[A]

Here. Then I have a couple small teams, about 15. Another group of 20. Group of 17 in California. And we're working on Miami right now.

[B]

Holy crap. So you're spreading.

[A]

Yeah, yeah, definitely.

[B]

Wow.

[A]

100%. So I own the Richardson Grouper Company within a company. I'm part of Real Broker LLC. So we're in umbrella over US and Canada. So it gives me the ability to do other things and I go ahead and take what I've been doing. And I said, hey, I'll show you the model. I'll show you what I do. I'll show you why it's successful. One of the reasons why I'm working with leaders, most real estate companies, a brokerage model, you're training your competition. Once this guy leaves, now he's competing with you. The model that I've built, what happens is if I train them internally within my team and he's outgrown me because everybody, if they're, if they're a hustler, they're going to outgrow you. They're a type A personality. They want to go out and do something else. They want to do their own thing. Now I move them out, show them how to duplicate it, continue making money with him. He's now like no longer an enemy, right? Not a real enemy, but just competition.

[B]

Yeah, yeah. Did Exp Realty approach you at one point?

[A]

I worked with you.

[B]

Oh, you did okay because they have so many people.

[A]

Yeah. So I was an exp icon. It was short lived. So I partnered with two guys out of California. And the reason why I Did wasn't because of exp. It's because I love their systems. I was in a boutique brokerage here In Vegas, about 500 agents. So I was just starting to build at that point. I met these guys and I was like, their systems are on fire. Jumped in with them and it was awesome. I did great. So I'd work with them. They're out of California. In the meantime, I was working with Rene Rodriguez.

[B]

Yeah.

[A]

So I did an event with him three days. His little clinic that he has, it teaches how to speak, have constant communication, be very intentional. And I met somebody with real and I started comparing the models and I'm just like, holy crap. This real model one fresh new kid on the block. People are very interested. Number two, they're going through what exp went through 10 years ago. Stocks were low getting in at that time. Rev Share was super aggressive. Rev Share didn't exist when EXP came in. They brought it to the market. Now it's more aggressive. I said, okay, this looks pretty awesome. I don't want to be the guy it turns around, thinks about it. Oh, should I? Should I should? I said, screw it, let me pull the trigger. I got a good feeling. Sure enough, I was right.

[B]

Nice. Yeah. Sometimes you got to take that chance, right?

[A]

Yeah. No, 100.

[B]

Because exp is like the safe play. But sometimes you gotta get bet on the up and coming company.

[A]

Yeah, it is. Our model is a little different. So EXP can jump in. So if you're a recruiter, exp, you don't have to sell a house. But that's part of the problem. So I was pitched probably 500 times by exp, but a guy like me, where I'm selling hundreds of homes a year, I'm not going to listen to you if you've never sold a house. You know, this is my business. You know, granted, there's the building model and everything else spread around it on the Rev Share. So on the real model, you have to be a producer. So we bring in producers. You have to show you're actually selling houses in order to stay within and take all the benefits of the company.

[B]

Smart. So if you don't sell a house, you get kicked out.

[A]

Oh, you don't get kicked out. You're going to pay MLS dues for nothing. You're going to lose money there. You're not going to make any money off of Rev Share. So it's like it's no point. You'll just lose. At that point. It kind of gives you no choice.

[B]

Right.

[A]

So it's either but one of the benefits all let's say you decide to you're going to will the your rev share model. You're making 50 grand a month. 100 grand a month. Whatever it is exp side you pass away, it's gone. On the real side you have your wife, she's at home taking care of the kids. You pass away as a realtor. What'd she do real you're gonna will that. She's got that 50 grand a month coming.

[B]

Oh nice.

[A]

Xxx that's cool. It's pretty cool, right? Plus you can set up his retirement package. You decide to get out of real estate whatever your age is. I don't ever want to retire but people do. So if they go ahead and retire you can continue receiving that rev share also. So it's pretty cool. It has a lot of cool components.

[B]

Yeah, I love that. So if you had 100 million you wouldn't retire.

[A]

Wouldn't I? So I don't see myself like sitting on a beach staring at the stars. I wake up every day and I want to be hungry. I want work, I want to build something now has over the years has my career evolved a hundred percent and where it will continue 10 years from now Will it look different? 100% but not different to where it's like oh that's it. Time to hit the cruise ship. You know, drink some bloody marys whatever it is. Fruit cocktails. It would drive me nuts after a while. It would. I'm like what am I building? What am I doing? I grew up in New Jersey and everybody I talk to in Jersey this is crazy. So every time they call me or like a retire I get a call within 60 days. I have cancer. I have cancer.

[B]

Wow.

[A]

Constantly. I'm all joking aside, I've yet to talk to somebody it doesn't happen to and I think one Jersey as far as crops and everything else, it's a garden state. I think that plays a part.

[B]

Pesticides. Yeah.

[A]

Yep. But another part of at the same time I think our body knows shut down time. We're at a certain age and it starts taking over. Think about it. The more people you talk to more active they are at an older age they're healthy as an ox. One of my good friends, he's 73 years old he works with within the movie industry out here. I mean that dude's healthy as an ox and rock in 73. He's out there kicking butt and hanging out in the casinos and hitting on young girls. It's so Funny, but he's a really good guy. But I look at him, I'm like, man, this guy's healthier than anybody else I know. For the most part, I talk to other people's age that retire. I mean, they're a sinking Titanic.

[B]

For real.

[A]

Yeah. So I don't want that. So I'm not retiring.

[B]

I'm not retiring either. I mean, it's so fun what we do. When I go on vacations, by the third day, I'm like wanting to go home to work, you know.

[A]

And then my coach had asked me about that recently. She goes, how much vacation time do you take? I said, I don't take vacation time. That's the thing. So if I go do an event and like just a month ago I was in Orlando, so I was at an event, spoken to Orlando, and I said, you know what, I'm going to stop in Miami for two days. So I stop in Miami, set up two meetings in Miami, have meetings out there. I might spend an evening out to dinner. On my way out, hit the beach and that's it, I'm gone. So I was like, I'm, I'm not one of these guys takes five days off or 10 days off, I'll go.

[B]

Nuts, I'll go crazy.

[A]

It's absolutely crazy.

[B]

What about your honeymoon? You go, you go hard for that?

[A]

For my honeymoon?

[B]

Yeah.

[A]

Well, I'm not married.

[B]

Oh, you're not married? No.

[A]

Married.

[B]

Was that by choice?

[A]

Pretty? I mean, I'm a lover, definitely. I started to think about it lately. I'm like, I'm really good at the short term stuff, you know what I mean? Spending time with somebody. But I'll. I almost get a little bit of anxiety, I guess you could say, because I'm so bought into my career and that's why I found, it's like, of course I'm human being, I think, you know, women are wonderful and you treat them respect and I want to spend time with them and I do. But it's like the more time I spend, I'm just like, holy crap. My true love is my career. It is. I'm just a love building it, spending time doing what I want to do. I don't want to have to worry about coming home at 6:00. I want to worry by somebody's like, hey, are you ready for dinner yet? Hey, what are we doing over the weekend? Just the way I am, right?

[B]

You would need to find someone where they know the business comes first and they're second, which is going to be.

[A]

Hard oh, it is. It definitely is. Yeah. I mean, and the shame of it is there's a lot of people out there that say, oh, I'm so into that. Oh, I'm a driver. Most people leave with lead with their best foot. Forward. Forward.

[B]

Yeah.

[A]

They're going to tell you what you want to hear.

[B]

Easier said than done.

[A]

Oh, yeah. 100. But then everybody's level 10 is different, so that might be their level 10. But then as far as where my level 10 is, is way surpassed them. Like, okay, I see what you mean, but this doesn't make sense. We're like, oh, yeah, I work really hard, 9 to 5, and then after that we need to watch a movie. I'm like, no, it's not. That's not the way it works.

[B]

Yeah, that communication is important, man. When I told my girl I'm starting the show, I. I told her up front, I'm like, I'm going to work more than normal. You know what I mean? Like, at the time, I was taking weekends off and so there you go. Spending dinners on the weekdays. I said, that might have to go for this show to grow.

[A]

There you go. And does she work within the business?

[B]

Yeah, she works within the business. But she understood that there's. There's periods of your time when you're dating that you're going to have to lock in.

[A]

Yeah, There you go. That's awesome. And you just got engaged. Was it six?

[B]

Yeah. About getting married next year.

[A]

Nice. Congrats. Yeah, that's awesome.

[B]

Yeah, it's been a lot of growth, man. Yeah, she sacrificed a lot because I used to work 18 hours a day.

[A]

Okay, what do you work now?

[B]

So people have weird definitions of work, But I'd say 80 hours a week still.

[A]

Eight hours a week?

[B]

Yeah. What is that, a day? That's like. Yeah, 10, 11 hours, I'd say. Yeah.

[A]

Yeah, there you go.

[B]

Yeah. Because I'll. I'll loop the self help into work because that is a form of work for me.

[A]

Yeah. It's funny where you say, you know, as far as definitions at work, there's a difference between where people get confused. Confused spending time at the office and real work hours. And that's where people get misconstrued. Sure, you could spend 12 hours at the office, but how much works you get done an hour? You know what I mean?

[B]

Yeah, yeah.

[A]

See the difference? Like, I don't know, I was at the office 12 hours a day for 10 days. I didn't sell one house or I didn't produce one product or whatever. Industry they're in. I'm like, yeah, but how many cat videos did you watch in the meantime? You know what I mean?

[B]

Yeah. It shouldn't be measured off hours. It should be measured off results. Like, that's why I like the structure of your. Your company, actually, because it's based off results.

[A]

Oh, it is, yeah.

[B]

Because these days, people are kind of entitled and they just want to get paid a salary or whatever.

[A]

No. 100.

[B]

You're not even doing, like. Yeah.

[A]

See it. Yeah, you do. Definitely. Real estate markets changing right now and just. We're constantly looking at what direction it's going to go. We got to be looking pretty much 12 months ahead constantly. And where we're at, because there. There was an NAR loss.

[B]

I saw that. Yeah.

[A]

Yep. So there were certain real estate companies weren't. What they weren't doing was they weren't disclosing as far as what the commissions were going to be as far as negotiable on the buyer side of everything. And it really changed the game. Now, what it also did is it also put real estate agents in the driver's seats. Like, you better show your value. You're not opening a door and just getting a free commission and getting lucky. It's no longer that. That person literally has to hire you, almost like a lawyer. Any other business professional would. They're gonna have to decide, are they going to sign on the dotted line, are they willing to pay your commission? And it's changing. And all these ones, like you just said, entitled, for example, it's weeding them out of the business fast. I bet it's going to be very interesting over the next 12 months.

[B]

Only the tough will survive.

[A]

It's true.

[B]

Yeah. So how does it work now? Because when I bought the house, I didn't pay any commission.

[A]

Didn't pay any when you came in because you just closed two, three.

[B]

Two, three weeks ago. Yeah.

[A]

Yeah. So when you came in, you were right in the beginning stages, where it officially takes effect is August 17th.

[B]

Oh, got it.

[A]

That's when it's like that. That. That's like where a realtor could get sued for not following the steps.

[B]

Really? Holy crap.

[A]

So at that point, sued, fined, whatever, the list goes on. So now, as of October 1st, the commissions disappeared from the MLS. So now that they're not there, what we have to do is one we're going to call, say, hey, listen. So we know what direction we're going. And what we have to work with is say, hey, Mr. Seller, are you willing to pay commission? And everything else. So we know walking into that if you did the proper buyer's consultation, spend time with your person, the way we lead, say hey, we're always going to go to the seller first and ask them pay our commission. In the event that they cannot do that, we're going to have to have a serious conversation. Have a brother, do you have a cousin? Do you have leverage, something you can do to pay as far as for the service through that escrow. So I cannot work for free. Yeah, just is what it is. Our brokerage won't even allow you to work for free because then it affects our E and O and now we're not covered and God forbid something goes sideways. So as far as that goes. But that all start on October 1st. But it's go time, right? Middle just the meeting I just left from just before this. Yeah, I, I mean it's just like non stop with a division right now. Damn, it's a big deal. I mean it's nationwide. There's a couple states that aren't a part of the Realtor association and they decided not to participate in it.

[B]

Wow.

[A]

It's kind of a weird time because a lot of most sellers you talk to, I would say 95% they're like, well I want to advertise the commission. Why can I? I'm like well I'm not allowed to do that on the mls. And the reason why is what they don't like. It's like, well how's somebody going to tell me I can't advertise? I want to sell fast. And I know what's going to sell fast is money's going to talk. It's going to be the price of my house and it's going to be what I'm offering another agent. So there's a lot of things happening right now. So you have a lot of sellers kicking back on it, believe it or.

[B]

Not, Kicking back at it, Kicking back.

[A]

They don't like it.

[B]

Oh, they don't like it.

[A]

Fan. Yeah.

[B]

How come?

[A]

I mean they don't like it because now they can't advertise. Incentive and bonus people. Let's say it's a guy that's like listen, I got to get out here like yesterday, right. I get to Florida, my daughter's sick and I'm buying a house there and I need to sell this first. So But I almost gonna bonus somebody 10 grand to go. I didn't do this, can't do that. Used to be able to say hey, you sell up in the next Seven days. You bring me a buyer, I'm gonna offer you 10 grand. It's no longer allowed.

[B]

Damn, that's annoying because. Yeah, some people need to sell in a hurry.

[A]

It's a true.

[B]

When I was shopping for houses, there were people that were moving the next week.

[A]

Yeah. It's the truth. They're motivated. They want to get going. Everybody has something going on in their life. And then, I mean, I'm sitting here thinking to myself, and I said this down at the board. I remember said, I'm like, if I'm selling my house, I want to be able to advertise the way I want to. I'm like, how are you going to tell me? It's just like, you can't tell me what I can sell it for. It's my choice why I sell for. How is it? You can tell me how I'm going to advertise it. So it's pretty crazy.

[B]

Yeah. Yeah. The home buying process was gnarly, man. I learned a lot. I realized it's not really made for business owners and entrepreneurs as far as.

[A]

When it comes into the finance, getting a loan.

[B]

Yeah, I mean, that was. I. I barely qualified for anything, so I had to do a bank statement loan. So that was kind of frustrating because the interest rate was higher. So they need to fix that system, in my opinion.

[A]

Yeah. As far as that. So you have take you close three weeks ago. So you got basically five months in one week and then go ahead and refi reaches dropped on Friday.

[B]

Oh, they did? Oh, I didn't know. I got in at 8 5, but I bought it down to 7 5.

[A]

Did you?

[B]

Yeah.

[A]

Okay. Yeah. So if you take a look, as far as traditional rates, FHAs. FHAs are getting down in the fives right now. What about a week ago?

[B]

Oh, wow.

[A]

7.1, 7.2.

[B]

That's amazing. Yeah. So I could refi.

[A]

Oh. Depending where you're at, how much you need at that time, go ahead and refi in the next five plus months.

[B]

Nice. Yeah, that's good to know. Plus, the house already went up a little bit, I saw.

[A]

Yeah.

[B]

On Zillow.

[A]

There you go.

[B]

I mean, the inventory out here is rough.

[A]

It is. It's super light. You have to get creative out here in Vegas. So if you're dealing with a real estate agent in Vegas, that's just, you know, whatever sells 20 homes a year, he's stopping on the MLS. You're looking at everything everybody else is. You really need to work with somebody that's in the game. They know what's going to be hitting the market?

[B]

Right.

[A]

Who has an interest in selling that? You know what? If the right deal comes along, I'm going to sell this sucker. So when you work with people like that that are really are dialed into the market and dialed into the community, you're going to get more of what you want. When you're looking for real estate, that's why you're looking to buy some primary, invest whatever it might be.

[B]

Yeah, that's smart. Because by the time it's on Zillow, 150 people seen it.

[A]

Yeah, I mean it's old news. Yeah, definitely is. And our inventory out here is not much to pick from.

[B]

Not much at all, dude. Took me months to find a spot. Dude.

[A]

It does.

[B]

Yeah. I mean we're supposedly getting NBA, mlb, so Vegas is going to be hot.

[A]

I mean we're blowing up. I mean I notice every time I take a look at a month to month when I go out there and hit the road, I'm like, man, man, it's be busier now. Dude, it's nuts.

[B]

I'm in traffic every day now. When I moved here three years ago, I don't think I hit traffic once. Yeah, the whole year.

[A]

It's crazy. I moved here 2012 so from South Jersey and I look around compared to then night and day.

[B]

Yeah, it's nuts.

[A]

It's nuts. It's nuts. We have 5,000 people moving here every month from Cal.

[B]

Holy crap. It's that much. Wow.

[A]

I mean we're busting at the seams.

[B]

Yeah, that's 5,000 just from Cali. So it must be, must be over 10k just overall.

[A]

Oh yeah. Because we're seeing South Florida traffic now. We're seeing, you know, East Co or New Jersey and New York as well. Yeah, definitely. So we're seeing a lot of those areas.

[B]

I love it. How many houses did you sell last year?

[A]

Last year was 226.

[B]

Damn, that's almost one a day, dude.

[A]

Yeah, that's impressive. Super busy this year.

[B]

You're gonna surpass that.

[A]

Yeah, surpass that because we have off market stuff as well that we're pushing like I mentioned as well.

[B]

Nice.

[A]

Yeah. So and that's throughout my. So I have a unit of agents are on the smaller side besides all of them, I manage over here in Vegas and that's just with my small group by itself. So my idea now going into the new year is we're going ahead and we're dialing that in and bringing in and we're building out a Strong admin staff to support that. Because what I found, I was like, we can bring up this count. We just need the support staff. And I found we were too late on the support staff to kind of help as far as setting appointments, as far as administrative paperwork, as far as staying compliant. The list goes on and on. I said, okay, I'm going to add these components in, make this super thick, have 10 of these in the front line. We could double these numbers going in the next 12 months. Rolling.

[B]

Wow. That's cool, man. So where do you rank in Vegas now?

[A]

Right now in Vegas, I'm ranked at 51.

[B]

Oh, wow.

[A]

Yeah. 22,000.

[B]

Oh, so that's really good.

[A]

Yeah.

[B]

Solid, man. I didn't know there was 50 ahead of you. That's. That's impressive.

[A]

Yeah. So right now. Yeah, got 22,000 agents. They'll be interesting to see what it looks like over the next 12 months, what that number goes to.

[B]

You think it'll get cut pretty heavily?

[A]

Yeah, definitely. Well, it's pretty interesting out here in Vegas because you talk to. People are like, oh, I know. This person's a realtor. I'm like, okay, they might hold a license that doesn't make somebody filter.

[B]

Yeah. It's pretty easy to get, right?

[A]

I know it is. I mean, you practically pick up a license over an aisle three at Walmart. I'm like, it's nuts. It's 120 hours. I'm like, a monkey could pass the test. I'm like, doesn't mean he can sell real estate.

[B]

Yeah. It's an online test, right?

[A]

Yeah. Well, it's over at the. At the Pearson View.

[B]

Oh, so you have to take it in person.

[A]

You have to take in person?

[B]

Yeah. Okay.

[A]

I think they have one program where you might have to improve certain items.

[B]

Damn.

[A]

But for the majority, you're down there taking it. But, I mean, it's nothing at the end of the day. You memorize the stuff.

[B]

Yeah.

[A]

I mean, but it's not street tactics at the end of the day. It's not teaching the negotiation. It's not showing you how to find deals for your clients. That's what your clients want. It's great. You got to stay compliant, stay legal. At the end of the day, we all need to. But what are you doing for your client? You're hired for being the best negotiator. You're hiring for finding the best deals for your client. Where's that training come in? That's where people like me step in.

[B]

Right. So you actually negotiate. Nice. What's the biggest you've saved on a house.

[A]

I mean I would say as far as we have our wholesale department, that's like a lot lot at that point. All depending where we're positioning at. I've sold some of those deals where I save people 500 grand.

[B]

Holy crap. That's impressive, man.

[A]

Yeah, it's crazy.

[B]

Where'd you learn to negotiate?

[A]

Yeah, so I train with Brett Tanner. So Brett Tanner, he's phenomenal in the wholesale market. So he has 17 markets spread throughout the US so he showed me how to go out and find these deals and everything else and how to put together a list of buyers and investors. So I spend time with him over in Scottsdale. So we put together a whole system as far as what it takes to get in front of them and then how to construct the deal at that point, what the numbers look like and off to the races.

[B]

And now you're coaching too, right?

[A]

Yeah. So it was crazy. I was invited over there. I'll never forget this was a couple years ago when I stepped in that room. It's interesting when you level up and like I'm like I've been in some big places and I started looking around. I'm like the money flowing through there was ridiculous. Ridiculous. These guys are talking about doing 100 million dollar deals and I'm just like holy smokes, this is ridiculous. Like what is this? I'm like 10 million dollar house at that time was a big deal for me but these guys were talking about moving huge projects and portfolios. But yeah, so as far as now what I'm doing is coaching as well and that's what I'm providing as far as people that come into real. The Richardson group currently right now as far as I'll train my teams in California and other states and everything. Anything else to where we'll jump on zoom calls every. Every week. So and then we're setting that up. I just got a new house in Vegas. Big showy, big daddy place specifically to run events out of it for event space as well.

[B]

Nice.

[A]

So as far as that goes, we're going to do the event every quarter. First one will be starting in October so I'm bringing in speakers to that. So now what we're going to be doing is besides as far as within my real network because I want to see where it really fits. Fit in with them first. And now we're going to be going to outside. It'll be driven towards real estate people because that's what I do. But at the end of the day where the core of it is, it's living life with intention. It's networking and building a database. And you can do that whether you're in title, whether you're a loan officer, whatever it might be out there. You know, what are you doing to raise the level and be a better version every single day. Walking into that office, I got sick one day, like, just sick, looking at things. And I'm looking at so many realtors coming in. They're like, well, I need this tech tool. I need this, I need this, I need this. I started looking at some of these people. I'm like the quality person they are, how intentional they are with everyday living. I'm like, they're not taking the right steps. If you're not doing this, you're not building yourself. You're not reading books, you're watching TV all day, but you're thinking the next tech tool is going to build you. No, it's becoming a better person because quality people want to spend time around quality people.

[B]

Right.

[A]

You want to get into a luxury market. That's what most realtors say. But you want to spend time with these luxury people. They don't want to spend time with somebody that's not like building. Want to talk about upper level educational conversations. It's not going to happen. So what are you doing to build up yourself? So that's when I started building this program. Thomas is assisting me. Right behind you putting that together for real estate agents. More than anything, it really comes down to mindset at the end of the day, where it worked for everybody because it doesn't matter what business you're in. So if you have networking, you're building a community, you have a strong mindset, you're a quality person. You're living with intention and giving value at any given time and helping solve problems. I don't care what business you start, you're going to be successful.

[B]

Absolutely. I love that, man.

[A]

Yeah.

[B]

Where can people find your program, find out more about you and keep up with you, man.

[A]

So what they can do is they can look me up right on Instagram is the best way. Answer every. Everybody at back. That's going to be the shark, Junior. All right. And that's not Junior. Everybody says that. That's Johnny Richardson. So everybody knows. But go ahead and set me up. We have live zoom calls once a week right now. Platforms being built out on high level right now. So that'll be released over the next 30 days. Boom.

[B]

We'll link below. Thanks, Johnny, for coming on.

[A]

Hey, thank you for having me.

[B]

Yep. Thanks for watching, guys, as always. See you next time.

[A]

See you.