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

Summary

Digital Social Hour Podcast Summary
Episode: How This Vegas Realtor Closed 226 Deals Without a License | Johnny Richardson
Host: Sean Kelly
Guest: Johnny Richardson
Release Date: December 3, 2024

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Introduction

In this compelling episode of the Digital Social Hour, host Sean Kelly welcomes Johnny Richardson, a highly successful realtor based in Las Vegas, who astonishingly closed 226 deals without initially holding a real estate license. Johnny delves into his unconventional journey, sharing invaluable insights into his strategies, challenges, and the innovative approaches that propelled his career to remarkable heights.

Johnny Richardson's Entry into Real Estate

Johnny's foray into real estate was anything but traditional. Without a license, he partnered with a licensed agent to navigate the complexities of the market. Reflecting on his early days, Johnny shares:

"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."
— Johnny Richardson [04:18]

This strategic partnership allowed Johnny to learn the industry swiftly, leveraging his ability to build and manage a strong database of clients.

Overcoming Challenges Without a License

Johnny emphasizes the importance of intentionality and adaptability in real estate. Despite not initially having a license, his proactive approach enabled him to close his first deal before officially being licensed. He attributes his success to relentless effort and a refusal to wait for conventional pathways:

"I was like, I know how to work a database. 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 and first deal before my license showed up."
— Johnny Richardson [04:17]

Achieving Success: 226 Deals

In his first year (2017), Johnny closed an impressive 45 deals, far surpassing the national average of 6.7 deals per realtor. By the time the interview took place, he had escalated his accomplishments to 226 deals in the past year, highlighting his capacity to scale operations effectively.

"Last year was 226. That's almost one a day, dude."
— Johnny Richardson [31:45]

Building and Managing a Large Team

Johnny's success is underpinned by his ability to build and lead large, efficient teams. Currently, he manages 156 agents in Las Vegas, alongside additional teams in California and Miami. He attributes this growth to strong administrative support and a focus on training and mentorship within his organization, the Richardson Group.

"We put that company in profits within 90 days. We weren't messing around. And now we're running an event space with our title company, providing more value to agents."
— Johnny Richardson [05:32]

The Importance of Networking and Personal Development

A recurring theme in Johnny's philosophy is the significance of networking and continuous personal development. He advocates for attending networking events, building meaningful relationships, and investing in self-improvement to stay ahead in the competitive real estate landscape.

"Spending your off time on personal development is what separates you from other entrepreneurs and real estate people."
— Johnny Richardson [10:52]

Comparing Real Estate Companies: EXP Realty vs. Richardson Group

Johnny discusses his experiences with different real estate brokerage models, particularly contrasting EXP Realty with his own Richardson Group. He highlights the flexibility and support his company offers, enabling agents to maintain control over their commissions and providing a robust retirement package through revenue sharing.

"On the real side you have your wife, she's at home taking care of the kids. You pass away as a realtor. What's she do? Real you're going to will that she's got that 50 grand a month coming to."
— Johnny Richardson [18:15]

Adapting to Market Changes and Nomenclature Laws

The conversation delves into the impact of recent nomenclature laws on the real estate market. Johnny explains how these regulations have shifted the dynamics, placing greater emphasis on agents demonstrating their value and negotiating commissions directly with clients.

"Now what it also did is it also put real estate agents in the driver's seats. You better show your value. You're not opening a door and just getting a free commission."
— Johnny Richardson [25:03]

He underscores the necessity for agents to adapt to these changes by enhancing their service offerings and strengthening client relationships to thrive in the evolving market.

Future Plans and Coaching

Looking ahead, Johnny is focused on expanding his influence through coaching and mentoring other real estate professionals. He is developing programs to train agents in critical skills such as negotiation, deal structuring, and market analysis, ensuring they are well-equipped to excel.

"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."
— Johnny Richardson [34:23]

Personal Life and Work-Life Balance

Despite his relentless work ethic, Johnny touches upon the challenges of maintaining a work-life balance. He candidly discusses his commitment to his career over personal relationships, revealing a deep passion for building and scaling his business.

"I wake 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."
— Johnny Richardson [09:50]

Conclusion

Johnny Richardson's journey is a testament to the power of innovation, dedication, and strategic thinking in achieving extraordinary success in real estate. His ability to navigate industry challenges, build and lead large teams, and adapt to market changes offers a blueprint for aspiring entrepreneurs and real estate professionals aiming to excel in a competitive environment.

Key Takeaways:

• Proactive Learning: Partnering and leveraging available resources can fast-track entry into a new industry.
• Database Management: A robust client database is crucial for sustained success.
• Networking: Building meaningful relationships through events and personal development is essential.
• Adaptability: Staying ahead requires adapting to market changes and regulatory shifts.
• Leadership: Effective team building and mentorship drive organizational growth.

For more insights and inspiration, listeners are encouraged to follow Johnny Richardson on Instagram or join his weekly Zoom coaching sessions as he continues to share his expertise and strategies for success in real estate.

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Notable Quotes:

• "I partnered with an agent. I said, look, I don't have a license, but I got a deal. So I partnered with him." — Johnny Richardson [04:18]
• "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." — Johnny Richardson [02:16]
• "I'm pretty much addicted. At the end of the day, I love what I do." — Johnny Richardson [09:54]
• "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 given value at any given time and helping solve problems. You don't care what business you start, you're going to be successful." — Johnny Richardson [37:48]
• "The more you use Indeed, the better it gets." — Johnny Richardson [00:10] (Note: This appears to be part of an advertisement and may not directly relate to the episode’s content.)

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Connect with Johnny Richardson:

• Instagram: @JohnnyRichardson
• Upcoming Coaching Sessions: Live Zoom calls scheduled weekly. Stay tuned for updates on HighLevel platforms.

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This summary captures the essence of Johnny Richardson's insightful discussion on the Digital Social Hour Podcast, highlighting his unique approach to real estate, leadership, and personal growth.

Transcript

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[Host]

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[Johnny Richardson]

Day can feel off.

[Host]

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[Johnny Richardson]

Crazy, right?

[Host]

Yeah.

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

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

[Host]

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

[Johnny Richardson]

That's true. I'll tell you what, a lot of real estate agents, they ask that question all the time. Are we gonna fall apart? Are we gonna 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 Our market conditions going to change? They are. I had this conversation with somebody at Terminator 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.

[Host]

Right.

[Johnny Richardson]

And what you're doing is you're just figuring out which side to 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 instead of single family homes? Whatever the direction is, real estate's going to. 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. No, just find a place to ride. It's not like it's going to fall apart. Especially here in Vegas, people got so.

[Host]

Used to the 2 to 4%.

[Johnny Richardson]

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

[Host]

Yeah.

[Johnny Richardson]

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

[Host]

Yeah.

[Johnny Richardson]

It's just not going to happen.

[Host]

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

[Johnny Richardson]

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 didn't 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 and first deal before my license showed up.

[Host]

Wow.

[Johnny Richardson]

Crazy, right?

[Host]

Yeah.

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

Yeah, yeah, definitely. That's impressive.

[Host]

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

[Johnny Richardson]

John. John's an amazing person. Simply Vegas.

[Host]

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

[Johnny Richardson]

Yeah.

[Host]

Yeah. A billion dollars last year. Crazy.

[Johnny Richardson]

Crushed it.

[Host]

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

[Johnny Richardson]

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 entering 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.

[Host]

Wow.

[Johnny Richardson]

We put that company in profits within 90 days.

[Host]

Holy crap.

[Johnny Richardson]

Yeah, we went hit the ground running. We weren't messing around. And now we're running an 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.

[Host]

Smart. Having those events in the office.

[Johnny Richardson]

Absolutely.

[Host]

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

[Johnny Richardson]

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. Your database is nuts.

[Host]

Yeah, 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.

[Johnny Richardson]

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

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[Johnny Richardson]

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[Host]

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[Johnny Richardson]

And so I don't watch. I didn't have a TV in my house for like four years intentionally just to not be distracted. So I always knew of him. I never watched them 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, are who you spending most of your time with going after them, helping those clients provide in 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.

[Host]

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

[Johnny Richardson]

Thank you.

[Host]

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

[Johnny Richardson]

I mean, I don't stop in the reason why. And 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. 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.

[Host]

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

[Johnny Richardson]

Definitely.

[Host]

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

[Johnny Richardson]

Yeah, exactly. It's like, I mean, it makes no sense. I talk to people as far as reading books, they're like, 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, but 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. Suck it all in.

[Host]

I've never read a fiction book, actually.

[Johnny Richardson]

No, me neither.

[Host]

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

[Johnny Richardson]

Yeah, I'm with you 100%.

[Host]

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

[Johnny Richardson]

No, There you go, man. You're up there. 2x. That was on fire.

[Host]

What are you up.

[Johnny Richardson]

Yeah, I'm 1.5.

[Host]

Okay. I do 15 if it's a fast talker.

[Johnny Richardson]

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. I'm not. If I. My attention goes here for one second, it's like, what? Did he just say that? So I was like, let me make sure I get this.

[Host]

That's how I feel about like 222 5. It's like, all right. I'm just trying to cheat at this point, you know?

[Johnny Richardson]

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

[Host]

You listen to any podcasts or as.

[Johnny Richardson]

Far 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 don't know. I just ended up being local. Albert Preciado 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, that are looking to do something amazing. I talked to realtors, I explained 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.

[Host]

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

[Johnny Richardson]

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[Host]

And succeed.

[Johnny Richardson]

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%.

[Host]

There's a show about that.

[Johnny Richardson]

Yeah, yeah.

[Host]

Grant Cardone.

[Johnny Richardson]

Grant Cardone. Yeah, they did one with him.

[Host]

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

[Johnny Richardson]

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

[Host]

Nice. How big's your team right now?

[Johnny Richardson]

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

[Host]

Damn.

[Johnny Richardson]

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.

[Host]

Holy crap. So you're spreading.

[Johnny Richardson]

Yeah, yeah, definitely.

[Host]

Wow.

[Johnny Richardson]

100%. So I own the Richardson Grouper Company within a company. I'm part of Real Broker LLC. So we're 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, and 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 outgrowing 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 no longer an enemy, Right? Not a real enemy, but just competition.

[Host]

Yeah.

[Johnny Richardson]

Yeah.

[Host]

Did EXP Realty approach you at one point?

[Johnny Richardson]

I worked with.

[Host]

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

[Johnny Richardson]

Yeah. So I was in exp. I condo 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.

[Host]

Yeah.

[Johnny Richardson]

So I did an event with him three days. This 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, it's 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 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.

[Host]

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

[Johnny Richardson]

Yeah. No, 100.

[Host]

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

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

Oh you don't get kicked out. You're going to pay MLS dues for nothing. You're going to lose money. There's. You're not going to make any money off a rev share. So it's like it's no point. You'll just lose at that point it kind of gives you no choice.

[Host]

Right.

[Johnny Richardson]

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's she do real you're going to will that she's got that 50 grand a month coming to.

[Host]

Oh nice.

[Johnny Richardson]

Xxx that's cool. It's pretty cool, right? Plus you can set up as 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 rep share also. So it's pretty cool. Has a lot of cool components.

[Host]

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

[Johnny Richardson]

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 100 and will it continue 10 years from now? Will it look different? A hundred percent. 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 talked 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.

[Host]

Wow.

[Johnny Richardson]

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

[Host]

Pesticides, yeah.

[Johnny Richardson]

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 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 his age that retire. I mean, they're a sinking Titanic.

[Host]

For real.

[Johnny Richardson]

Yeah. So I don't want that.

[Host]

So I'm not retired, I'm not retiring. Yeah. 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?

[Johnny Richardson]

And then my coach had asked me about that recently. She goes, how much vacation time you take? So 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 gonna 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.

[Host]

Right.

[Johnny Richardson]

So I was like, I'm. I'm not one of these guys takes five days off or 10 days off. I'll go nuts.

[Host]

I'll go crazy.

[Johnny Richardson]

It's absolutely crazy.

[Host]

What about your honeymoon? You go. You go hard for that?

[Johnny Richardson]

For my honeymoon?

[Host]

Yeah.

[Johnny Richardson]

Well, I'm not married.

[Host]

Oh, you're not married? No. Okay. Was that by choice?

[Johnny Richardson]

Pretty much. I mean, I'm a lover, definitely. I'm starting 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 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. I 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.

[Host]

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

[Johnny Richardson]

Oh, it is. It definitely. Yeah. I mean, in 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.

[Host]

Yeah.

[Johnny Richardson]

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

[Host]

Easier said than done.

[Johnny Richardson]

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, yeah, that's not the way it works.

[Host]

Yeah, that communication is important, man. When I told my girl I'm starting the show, I told her up front, I'm like, I'm gonna 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.

[Johnny Richardson]

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

[Host]

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 gonna have to lock in.

[Johnny Richardson]

Yeah, there you go. That's awesome. And you just got engaged, was it six months ago?

[Host]

Yeah, about. Yeah. Getting married next year.

[Johnny Richardson]

Nice. Congrats. Yeah, that's awesome.

[Host]

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

[Johnny Richardson]

Okay, what do you work now?

[Host]

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

[Johnny Richardson]

Still eight hours a week.

[Host]

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

[Johnny Richardson]

Yeah, yeah, there we go.

[Host]

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

[Johnny Richardson]

Yeah. It's funny where you say, you know, as far as definitions of work, there's a difference between where people get 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 work to get done an hour? You know what I mean?

[Host]

Yeah, yeah.

[Johnny Richardson]

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?

[Host]

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

[Johnny Richardson]

Oh, it is, yeah.

[Host]

Because these days people are kind of entitled and they just want to get paid a salary or whatever. It's no.

[Johnny Richardson]

100.

[Host]

You're not even doing like.

[Johnny Richardson]

Yeah, you 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 N law.

[Host]

I saw that. Yeah.

[Johnny Richardson]

Yep. So there are 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 or any other business professional. But they're going to 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 weed in them out of the business fast. It's going to be very interesting over the next 12 months.

[Host]

Only the tough will survive.

[Johnny Richardson]

It's true.

[Host]

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

[Johnny Richardson]

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

[Host]

Two, three weeks ago. Yeah, yeah.

[Johnny Richardson]

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

[Host]

Oh, got it.

[Johnny Richardson]

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

[Host]

Really? Holy crap.

[Johnny Richardson]

So at that point, sued, fine, Whatever list goes on. So now as of October 1st, the commission's 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. Do you 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 nos and now we're not covered. And God forbid something goes sideways. So as far as that goes. But that all started on October 1st. But it's go time. Just the median. I just left from just before this. Yeah, 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.

[Host]

Wow.

[Johnny Richardson]

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 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 is 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 not.

[Host]

Kicking back at it.

[Johnny Richardson]

Kicking back. They don't like it.

[Host]

Oh, they don't like it.

[Johnny Richardson]

They're not a fan. Yeah.

[Host]

How come?

[Johnny Richardson]

I mean, they don't like it because now they can 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 was gonna bonus somebody 10 grand to go. I didn't do this. Can't do that. You 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.

[Host]

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

[Johnny Richardson]

It's a truth.

[Host]

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

[Johnny Richardson]

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 and I 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.

[Host]

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.

[Johnny Richardson]

When it comes into the finance, getting a loan.

[Host]

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.

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

Did you?

[Host]

Yeah.

[Johnny Richardson]

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

[Host]

What, about a week ago?

[Johnny Richardson]

7.1, 7.2.

[Host]

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

[Johnny Richardson]

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

[Host]

Nice. Yeah, that's good to know. Plus, the house already went up a little bit. I saw on Zillow. I mean, the inventory out here is rough.

[Johnny Richardson]

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.

[Host]

Right.

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

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

[Host]

Not much at all, dude. Took me months to find a spot. Dude, it does. Yeah. I mean, we're supposedly getting NBA, mlb, so Vegas is going to be hot.

[Johnny Richardson]

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, it's even busier now, dude. It's nuts.

[Host]

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.

[Johnny Richardson]

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

[Host]

Yeah, it's nuts.

[Johnny Richardson]

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

[Host]

Holy crap. It's that much. Wow.

[Johnny Richardson]

I mean, we're busting at the seams.

[Host]

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

[Johnny Richardson]

Oh, yeah. Because we're seeing south Florida traffic now and we're seeing, you know, east coast or New Jersey and New York as well. Yeah, definitely. So we're seeing a lot of those areas. I love it.

[Host]

How many houses did you sell last year?

[Johnny Richardson]

Last year was 226.

[Host]

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

[Johnny Richardson]

Yeah. That's impressive. Super busy this year.

[Host]

You're going to surpass that.

[Johnny Richardson]

Yeah, Surpass X. We have off market stuff as well that we're pushing, like I mentioned as well.

[Host]

Nice.

[Johnny Richardson]

Yeah. So. And that's throughout my. So I have a unit of agents that 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.

[Host]

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

[Johnny Richardson]

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

[Host]

Oh, wow.

[Johnny Richardson]

Yeah. That's not at 22,000.

[Host]

Oh, so that's really good.

[Johnny Richardson]

Yeah.

[Host]

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

[Johnny Richardson]

Yeah. So right now you got 22,000 agents. Interesting to see what it looks like over the next 12 months, what that number goes to.

[Host]

You think it'll get cut pretty heavily?

[Johnny Richardson]

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.

[Host]

Yeah, it's pretty easy to get right.

[Johnny Richardson]

I know it is. I mean, you could practically pick up a license over in 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.

[Host]

Yeah. It's an online test, right?

[Johnny Richardson]

Yeah. No. Well, it's over at the. At the Pearson View.

[Host]

Oh, so you have to take it in person.

[Johnny Richardson]

You have to take in person? Yeah.

[Host]

Okay.

[Johnny Richardson]

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

[Host]

Damn.

[Johnny Richardson]

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.

[Host]

Yeah.

[Johnny Richardson]

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.

[Host]

It's great.

[Johnny Richardson]

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.

[Host]

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

[Johnny Richardson]

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

[Host]

Holy crap. That's impressive, man.

[Johnny Richardson]

Yeah, it's crazy.

[Host]

Where'd you learn to negotiate?

[Johnny Richardson]

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 race.

[Host]

And now you're coaching too, right?

[Johnny Richardson]

Yeah. So it's crazy. I was invited over there. I'll never forget, this was a couple of 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. 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 house at that time was a big deal for me, but these guys are 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 and California and other states and everything else to where we'll jump on zoom calls every, every week. So 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.

[Host]

Nice.

[Johnny Richardson]

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 wanted to see where it really 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 could 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.

[Host]

Right.

[Johnny Richardson]

You want to get into a luxury market with 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 given value at any given time and helping solve problems. I don't care what business you start, you're going to be successful.

[Host]

Absolutely. I love that, man.

[Johnny Richardson]

Yeah.

[Host]

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

[Johnny Richardson]

So what they can do is they can look me up right on Instagram is the best way. Answer every. Everybody 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.

[Host]

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

[Johnny Richardson]

Hey, thank you.

[Host]

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

[Johnny Richardson]

See ya.