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Dustin Brome
If your real estate business feels stuck right now, it's probably not stuck for the reason you think. And on today's episode, I'm going to break down the silent mistake, the silent business killer that's actually costing you deals, how to spot it and how the top agents are just doing things differently. I'm going to show you what they're doing differently to grow. While everyone else is blaming the market, blaming interest rates, blaming anything else other than this. The Massive Agent podcast, we lead generation tips and strategies to get you more leads and sell more homes. I love to buy houses. I like to sell houses. It takes brass balls to sell real estate. Wait a minute. The leads are weak. You're weak. I've had better. Oh, have I got your attention now? Here's your host, Dustin Brome. What is up, guys? Welcome to episode 385 of the Massive Agent podcast. I'm your host, Dustin Brome, here in Salt Lake City, Utah. The. The greatest, most beautiful city on planet Earth, at least in America that I've been to. Anyways, great place, great place. Welcome to the show. We're going to be talking about the silent killer of real estate businesses. I guarantee you that to a certain extent you suffer from this condition that I'm going to diagnose today around real estate, around the entire industry. What I'm about to share with you, it. It's a freaking epidemic. It's a, it's a pandemic. It's not a pandemic. That means something totally different to us now. We do not like that word. We do not like that. So, no, it's not that, but it's an epidemic among agents. I used to suffer from this condition for sure. And what's crazy is even in today's like big real estate headlines around, around the industry, I see people suffering from this condition. I see this, I see this ailment, and it's just not good. So the key for you today is to walk away once you understand what this ailment is, what this issue is, and how to. How to spot it and then how to fix it, how to correct it moving forward. You've got to be self aware enough to realize, oh, you know what? I am doing that. Oh, to a certain extent in these situations, yes, I am doing that. I am thinking that way, I am approaching it that way. And as long as you're self aware, this episode will be a pivotal point in your career for sure. Because this is not something that you're going to leave and then go, you know, spend four Hours doing the homework for. This is something where a change can happen instantly if you're honest with yourself, if you're self aware and if you truly want to do better, be better and make a change. So what is this ailment? What is this condition that I'm talking about? I'm talking about scarcity. Having a scarcity mindset versus an abundant mindset. And what's crazy is that in today's real estate headlines we see all this stuff with you know, Compass and their private listings and you know, wanting, wanting pocket listings and all this stuff. Look, and this is not the show. If you want like the hard hitting, you know, analysis and breaking news and you know, diving into the details of what all these news stories are, this is not the show for that. Go to bam. Go to knowledge brokers, you know, go to what's their morning show that Byron does. Why am I blank the hot sheet with Byron? Bam has incredible shows. If you want to dive deep on the headlines and the news stories and what that all means. I just see these stories where Compass is like, hey, no, we want to have these private listings and we want to like publish a book with, with our private listings. But don't worry, you can come to our office and read the book. So it's totally open. Why would you. I think it's bad to, to, to keep listings from the masses. Right? I, as a general, as a general rule, I just think it's better for the, for you as the agent and for your clients to give their listing more visibility, to have more people see it than less. I think that's a good rule. So whatever that means, whatever, you know, whoever's wrong in the situation, whoever's right, I don't freaking know. I can't keep track of it. I don't have the energy for it. I don't really care. I just see some, I see scarcity happening because I see, hey, this is our thing, we're going to hold it close to our vest and it's only for us. I, I just think that's a losing strategy. Here's what I mean by that. I'm going to, I'm going to break down exactly what I mean in certain situations and what I've done in my career when I, when I was suffering from scarcity thinking in my career because I know some of you, actually all of you are to a certain extent dealing with the same thing with the scarcity thinking and we need to shift to abundant thinking. This is actually, this is not this theoretical episode today. This Is highly tactical actually, but it's a very simple fix. So when I was, I've been in real estate for what, 14 and a half years, almost 15 years, something like that. And when I was new, I had a mentor who. Great guy, love the guy. He was my first mentor in the industry. I learned a lot of good things and I learned a lot of bad things. Something that he taught me that was really, really good. And in hindsight, like, I kick myself for not actually like, you know, I heard it. But my scarcity thinking took over and caused me to not act on his advice. And what he told me was it, well, first off, I get my real estate license. And I was like, well, okay, now what? Like, where are these houses that I need to sell? Well, where do I find those? Where do we pick up these houses? And I realized, oh shit, I've got to get my own business, I have to get my own clients, I have to attract my own buyers and my own sellers. And so, and through that process I'm like, okay, well I guess I need a farm area. Like I need to start marketing and advertising in certain areas to prospect to get business. And so what he taught me was that I should find like a two block radius or maybe like a half mile radius, just a very, very small area and just focus all of my efforts. Door knocking, if you're doing that, phone calls, if you're doing that, mailers, postcards, Facebook, ads, letters, you name it, open houses, all that stuff. If you can focus on that one small farm area, you'll crush it. Because all of those, then you're seen so many times by same people over and over and, and it just works better. So that's what he said. Did I take him up on that? No, I did not. Why? I was new to the industry, I was starving, I needed business, I needed closings. And so I thought in my scarcity thinking that, okay, if a small two block radius or maybe like a half mile radius is good, the whole city's better. So I'm like, well, I'll just. Salt Lake City is my farm area. If you know anything about Salt Lake, it's a large city. I mean it's not, it's not Columbus, it's not Chicago, right? It's not New York, it's not even Phoenix. But it's a large city. And when I focused my efforts in a larger area, they're just diluted. So I'd have one random person see my stuff once, then this person would see my stuff. It's just diluted across the board. And it took me a while before I realized, wait, that doesn't work. I'm just spreading my efforts and spreading my message and my visibility all over the place so that people are only seeing me once and they're random all over the place versus focusing on one neighborhood, like even focusing on one Culdesac. I know that's probably not that many homes, but one subdivision, one neighborhood and just dominating the hell out of it and being seen all the time everywhere. Everyone else in that neighborhood is going to think that that's the person, they own the subdivision, they're the subdivision experts. So we've got to hire them and you're going to get a ton of business. I've seen this happen in, in. If you're familiar with the Salt Lake area, Olympus Cove is an area. Once I finally learned that marketing to the entire city was not a good strategy, I picked Olympus Cove. It was an area that I grew up near. Loved it, want to live, wanted to live there. At one point I thought it was like the nicest neighborhood in Salt Lake. It's, it's, it's not, it's, it's nice and it has great views and everything, but I just, I loved Olympus Cove right up against the mountains. And once I started to prospect that area and I started to door knock and I would do door hangers and Facebook ads and all that and I just focused on Olympus Cove. Guess what happened? People started to see me again and again and again and I got some business. But I also saw the other agents who were dominating that area. There's a few agents back at that time that I would see their signs all over the place. I'm like, how the hell does that guy, how the hell does that lady get so many listings in this area? Well, it's because they focused all of their efforts in one place. They didn't let their scarcity thinking at the best of them to think, well, I can't niche down. I need to, I need to expand out. Niching down and focusing on a small area will get you more business than focusing all your efforts in a large area. And it took me learning the lesson to realize, huh, maybe there's something to that. I should have listened to my mentor. But my scarcity thinking because of my financial situation got the best of me and caused me to make bad decisions. Speaking of which, if you are in a, if you are broke, if you are struggling financially, if you are living paid commission check to commission check. First off, I've been there many times. You are my people. I get it. I know what that's like. However, let's be honest. Being broke makes you a worse realtor. Being broke makes you a worse realtor because. Makes you a bad realtor because there's a little part of you subconsciously that needs your clients to act fast, that needs them to list their house this week instead of next month, that needs them to make an offer today rather than waiting for the right home to come up. It's subconscious. I, I mean for some of you, you're, and it's conscious, but for, for the majority of us, it's a subconscious thing. If there's any part of you that needs, that needs business sooner than later, that it's a need. You're just going to subconsciously push people a little bit faster than you should. If you are abundant and you have a good, if you have plenty of money in the bank and you have a six month savings sitting there just in case you have a slow, slow period, which I didn't do coming into real estate. I wish I would have had six, six to eight months of expenses sitting there. It would have allowed me, man, I would have made such better decisions. I, I would have been a better agent for my clients, no doubt. I'm not afraid to admit that at all, but I didn't. So you just, it's a subconscious thing. If you, you're, you're going to be pushing people a little bit faster than you should otherwise. So if you were in a place where you're good financially and you're like, like this is subconscious, this is what you're thinking. If you're like, look, if you buy a house today or three months from now, I'm good, I don't care. Let's just do what's best for you, your clients, you're actually going to do what's best for them. They're going to love you for it. They're going to trust you more. I know that some of my clients in the early days felt pushed because they were. I know that some of my clients could feel that, that I was just, it was almost adversarial when it shouldn't have been, when I should have been like, look, if you want to list today or next year, I don't really give a. Let's just do what's best for you, but let's figure out what that is. I would have gotten a lot more referrals, they would have trusted me more. My business would have grown a lot faster for sure. So whatever you need to do, to get to financial stability at a minimum and then maybe some surplus, ideally get there. I'm telling you that that will grow your business. That is a business building strategy is just to get right financially so that you're not strapped, so there's not the financial pressure that's causing you to urge others to do, to do that maybe they shouldn't, or on a time frame that they shouldn't. So, like being scarce in that scarcity financial mindset. Not good. It's just, it's not good for your business, it's not good for your clients, not good for referrals and, and all that good stuff. So one of the bad things that my mentor taught me, I told you there was a lot of good, there was a lot of bad. One of the things he taught me that in hindsight is just pure garbage, just absolute horseshit. I remember now this was like, you know, early, the early 2010s Facebook, I, I don't even think Instagram was really a thing that I think it was, but it wasn't like it was just like a photo app back then. I think maybe my timing's wrong, but Facebook was really the spot for social media and Craigslist. I know that's not social. It's a classify as a deal, but nonetheless, we would advertise on Craigslist. And I remember my mentor's like, hey, if you're going to be posting that, make sure that, like, you can't be following and you can't be friending other agents. Like, you've got to, you got to put other agents on a list so that you can exclude them every time you post. I was like, I was like, why? He's like, you want him to see what you're doing and steal your ideas? They're going to steal your ideas. And me not knowing any better, I was like, oh, you're right, you're right. So I learned, at least for a little while, to not let other agents see what I was doing for fear that they would steal my ideas. In hindsight, that is so laughable and so ridiculous. First off, even if they want to steal my ideas, most agents won't do it. They just won't do it. Like, I, I'm trying to decide how many toes to step on today or not. There's been some people that come through my, my coaching come, that take one of my courses. They have access to the same information that everyone else does and they do nothing with it. Or maybe they show up for three weeks and then stop And I just never see them again. And they're like, oh, it doesn't work. Then there's literally someone in the same city who took the same course, they're in the same coaching, had access to the same information, the same training, the same guidance, and went and made a million dollars over the next year in sales. I'm talking about Wayne and Charlotte of my clients actually did that. And it's just so interesting. It's like, okay, this doesn't work. And I made a million dollars in commission this year for the first time ever. So is it the information? Is it the training? No, it's not. It's the mindset. It's absolutely the mindset. Man, where was I going with that? I, I, I think I start, I went off on a little rabbit hole thingy. Wow. I, Let me get back to it. If you believe that other agents are going to steal from. Oh, I know why. I saw that even if I could give my best stuff out, only a few people will do it. So even if you have this amazing, world changing, earth shattering idea for a post or you're talking about an event you did or something that, that you're so worried about other agents stealing, most of them won't. They just want, they may want to, but they just won't do it. Cause that means they have to take action. Most agents won't. Most people don't take action on the stuff they say they're going to. That's just a fact. You're different though, right? You're different. So that's why, that's one of the reasons why holding what you're doing, like not letting other agents see what you're doing is so stupid. So what if they steal your idea? Who gives a shit? I've had plenty of people literally take my ideas word for word and do their own version of it. Like, I've had buddies do this. Like one of my buddies did this and he got more views than me on the same, on the same video with the same script. Was I mad? No. What do I care? There's so much business out there. I, I'm like, dude, that's awesome. And it was actually like a test. I felt good. Like, well, I guess the script is good enough to be copied. So sweet. I didn't think for a second that it was a bad thing. Even if he was in the same market as me, I still wouldn't give a. Because it's a big market, there's a lot of people and no one. There's so many reasons why you should not care about other agents seeing your stuff. You should be treating other agents not as competitors, but as potential collaborators. If you're with a certain brokerage with a business model that incentivizes agent attraction and agent partnership, it just puts that on steroids. I now am in a position where agents in no situation are competitors. In my eyes. They are potential partners, they are potential collaborators. They're end of story. And, and for you, I don't care what brokerage you're at, there is so much more upside in collaborating with and networking with other agents and learning from and letting them learn from you. Then, then you somehow hiding what you're doing and like doing your business over in the corner. It, it's just incredible the, the scarcity thinking that exists in this industry. And, and honestly, it comes from the top. It comes from a lot, a lot of the brokers and the leaders in this industry. How do I know with, with this Compass Private listing. No, these are our listings. Like we're going to hold them here. They're special to us. No one else can see them. Oh, and by the way, it's best for our clients. Really? How is fewer eyeballs better for your sellers? I, I still don't understand that. I still haven't. And, and look, I'm not judging them. I'm not judging Compass or Rob Robert Rufkin or any. I just believe that when you collaborate and you're open and you include instead of exclude, you make more, your business thrives, you learn more, you make better friends, you have better relationships than if you try to hold stuff close to your vest, protect it. That's just outdated thinking. In 2025. Your ideas are not special. This 14, 000 other people have the same idea or if they haven't yet, they will tomorrow or Chat. GPT will get them there a day after tomorrow. Holding information or ideas close to your vest or, or not preventing yourself from networking and growing a network of other agents in your market and out is dumb. I started to learn that if I networked with agents inside my market, every once in a while I would call the listing agent. And if I knew them and they knew me, I now had a leg up for my buyers with that listing. If we have a friendly relationship, if they knew me, if they liked me, if they knew anything about me at all, they're like, oh cool, I know this person. There's some added credibility to this buyer potentially. If they bring an offer. I trust Dustin. I know him. So I'm going to give their Offer a little bit more weight. That's just how it works. So if you have a bunch of agent friends in your market and they like you and know you and you know, you know and like them, that is incredible for your business. It's great for your buyers. You're going to get more offers accepted. And then if you know a bunch of agents outside your market, think of the referrals. My business and everything that I've done over the last five, six, seven years because I've seen others do it, or I was told to do it by someone who is a step or two ahead of me on the path, and I did it and I implemented and. Or maybe I screwed it up. And so then I reached out and asked for somebody else, like, hey, what do you think of this? Where am I screwing up? How can I make this better? And then they told me, because they think abundantly. Everyone that you're chasing, everyone that you're trying to reach, the people that you look up to on social and in business, they have a scarcity mindset. They have an abundant mindset, and that's why they're winning. They are winning because of their abundant thinking, not in spite of it. So you need to get yourself to that place. You need to get yourself to the place of abundance and get rid of the scarcity. So there's a lot of different takeaways. I'm going to let you define what your takeaways are for this, for this episode, because I think you're going to get something different out of it than somebody else. There's a lot of little Easter eggs that I dropped all throughout the episode today. I want to know what you got out of this episode. So send me a message on Instagram. Let me know if you're on Spotify. Did you know you can leave comments on podcast episodes on Spotify? If you're listening to this on Spotify, leave a comment and let me know what the biggest takeaway was or what your aha moment was or. Or, you know, like, what are you going to do differently moving forward? Now that you've heard this episode, let me know as a comment on Spotify. Love to hear from you guys. By the way, podcasting can be very lonely. Like, I have numbers on a screen that show me how many downloads each episode gets, but they're just numbers on a screen without a message, without a dm, without an email, without a comment, without a review on Apple or Spotify or whatever. Like, it feels like nobody's listening. If you do content at all you know what I'm talking about. Just having a large number of views doesn't mean anything. If you have a bunch of comments, then it feels like, okay, people are actually resonating with this. There's actual people here. I'm not alone. I'm not doing this in silence. So I'd love to hear from you if, if you got something powerful out of this episode, let me know. Before we wrap, my good friends over at Keeping Current Matters, they're the best in the game when it comes to educating. But educating agents on how to educate their buyers and sellers. Keeping Current Matters helps you to be the advisor that your clients trust and like and will refer with Keeping Current Matters. KCM gives you easy to understand market insights, ready to share graphics scripts to keep you looking like a knowledgeable pro. Try KCM for free over at try kcm.com Bam and Bam X. Level up your business with BAM X. Their courses, their referral network, their masterminds, their network of, of ambitious agents. All the courses they have, the, the, the business in a box, the post ideas they send out on a weekly basis. BAMX is freaking amazing. You can check it out massiveagentsociety.com BAM X let them know that I sent you. I don't know how you're going to do that, but let them just use that link and, and they'll know that, that you came for me. Thank you for listening. If you feel attacked today, if you feel like I stepped on your toes, if you feel like it resonated, if it hurt a little bit today, that is such a good thing because that means that you're noticing and you're recognizing and you're self aware enough and you're honest enough to admit, hey, you know what? I take responsibility in this bullshit scarcity thinking and I want something different. If it stings a little bit, how amazing is that? That you're self aware enough to admit that you want to change it and just by that I know that you will. It takes practice. You're gonna, you're gonna catch yourself in scarcity thinking from time to time. We all do and you will moving forward. But it becomes easier to catch, you get faster and pretty soon you just like nope, not even going that way. Here's what I actually believe so and you can course correct in real time. But it starts today. Thank you so much for listening. If you found value in this at all. Leave me a comment, leave me a review. Message me, let me know what your takeaway was or just share this with another agent. That you think needs to hear this message? Send them a screenshot, send them a link. Post it in your. In your brokerages Facebook group. Send it to your team. I appreciate the hell out of you guys. I'll see you next week. Take care of Sam.