The David Greene Show: Real Talk Realtor with Daniel Folger | Episode 61

Release Date: May 13, 2025
Host: David Greene
Guest: Daniel Folger

Introduction

In Episode 61 of Real Talk Real Estate, host David Greene welcomes seasoned realtor Daniel Folger from Salt Lake City, Utah. With over 17 years in the real estate industry, Daniel shares his extensive experience, strategies for thriving in a competitive market, and insights into building lasting client relationships without relying on traditional marketing methods.

Guest Background and Market Overview

Daniel Folger began his real estate career at the age of 18 in Salt Lake City and later expanded his services to Eden, a small park city. Over the years, his transaction volume has fluctuated, peaking at around 30 deals in high-demand years and stabilizing at approximately 15 transactions annually. Despite variations, Daniel consistently ranks within the top 500 agents in Salt Lake City.

“I've been doing real estate for a long, long time. I've kind of, you know, taken the approach of getting to know people and building those relationships. It's been pretty good.”
— Daniel Folger [00:49]

Salt Lake City's real estate market remains robust, with high sales prices averaging between $600,000 to $700,000 in Salt Lake City and $1.5 million to $2.5 million in Eden. Daniel highlights the busy nature of the market, despite feeling somewhat overwhelmed by the multitude of current trends.

Navigating a Competitive Market

David and Daniel discuss the challenges of operating in high-priced markets where competition is fierce. In areas where properties exceed $600,000, agents often deploy significant marketing budgets and offer commission incentives to attract buyers. Conversely, in lower-priced segments like Eden’s $250,000 range, competition is less intense, but agents must find ways to differentiate themselves to attract clients.

“When you're in the sub $250,000 markets like a lot of our listeners are, that's hard for them to understand because no one's fighting to work with a $250,000 buyer.”
— David Greene [02:15]

Daniel emphasizes the importance of providing a "luxury experience" rather than solely focusing on high-end properties. By prioritizing first-time homebuyers and tailoring the experience to their unique needs, he sets himself apart from competitors.

Transforming from Agent to Advisor

A significant portion of the discussion revolves around shifting the realtor's role from a transactional agent to a trusted advisor. Daniel shares his approach of educating clients on various real estate investment strategies, such as short-term rentals, long-term rentals, and house hacking, to help them build wealth beyond a single transaction.

“Instead of just being a real estate agent, I'm an advisor. ... how do we get you to the next one? How do we set you up to build that wealth?”
— Daniel Folger [04:01]

This advisory role fosters deeper relationships, ensuring clients see Daniel as a lifelong resource rather than a one-time service provider. His business model relies entirely on referrals and repeat clients, demonstrating the effectiveness of this approach.

Pricing Strategies and Client Relationships

One of the key topics was the delicate balance of pricing listings accurately while maintaining positive client relationships. Daniel discusses his innovative strategy of including pricing agreements in his contracts, which allows for flexibility and mutual agreement on adjustments if the initial listing fails to attract buyers.

“I've written it into my contracts... we will sit on the market for X amount of days. And once we hit that time, we're going to drop to the price that I've recommended and we're going to change strategies.”
— Daniel Folger [10:22]

This method ensures transparency and sets clear expectations, reducing the likelihood of adversarial relationships when market realities necessitate price adjustments.

Effective Communication and the DISC Personality Profile

Effective communication is paramount in Daniel’s practice. He tailors his communication methods to match each client’s preferences, whether they prefer texting, phone calls, or emails. During the episode, he shares an anecdote highlighting the importance of adapting communication styles to suit different personalities, which is crucial in building trust and rapport.

“Everybody communicates differently, right? So at the very beginning, I always like to, you know, what's the best form of communication?”
— Daniel Folger [15:15]

Daniel is also a proponent of the DISC personality profile, using it to better understand and interact with clients. This tool allows him to identify whether a client is Dominant, Influential, Steady, or Conscientious, and adjust his approach accordingly to meet their needs effectively.

“I'm a big proponent for it. I think it's good for, I don't know. I think everybody... it just gives you a little bit of insight.”
— Daniel Folger [18:40]

Challenges in the Utah Market

Daniel outlines the current challenges in Salt Lake City's real estate market, including high interest rates and significant home equity among homeowners, which creates a reluctance to sell despite favorable market conditions. This phenomenon, often referred to as "golden handcuffs," complicates the traditional dynamics of buying and selling homes.

“In Utah, actually, I want to say it was like we're 51 on, you know, most upside down in the country. So everybody's got tons of equity in their house.”
— Daniel Folger [28:20]

He explains that while high home prices and interest rates can deter sellers, they don't necessarily lead to declining home prices unless accompanied by broader economic factors like a recession. Instead, the market experiences a slowdown in transactions without significant price drops.

Adapting to Market Conditions

Despite the challenges, Daniel emphasizes the importance of adaptability and creativity in maintaining a successful real estate business. He highlights his efforts to educate himself on non-traditional sales methods, such as seller financing, to cater to diverse client needs and keep his business afloat during slower periods.

“I've been able to do a lot of true non-traditional sales... been able to educate myself the last three years... on seller finance deals.”
— Daniel Folger [31:16]

David echoes this sentiment, underscoring that successful agents often emerge stronger during tough market conditions by laying a solid foundation and staying connected with their database for future opportunities.

Conclusion

Episode 61 of Real Talk Real Estate offers invaluable insights from Daniel Folger on building a successful real estate business through relationship-building, strategic pricing, effective communication, and adaptability. Daniel’s experiences underscore the importance of evolving from a transactional agent to a trusted advisor, ensuring long-term success even in challenging market environments.

Connect with Daniel Folger:

• Instagram: danylfoulger

Quote Highlights:

• Daniel Folger [04:01]: “Instead of just being a real estate agent, I'm an advisor... how do we get you to the next one? How do we set you up to build that wealth?”

• David Greene [02:15]: “When the price points get up above 600,000, you start getting teams and businesses that are literally spending ad dollars to try to get to the sellers before you get there.”

• Daniel Folger [10:22]: “I've written it into my contracts... we will sit on the market for X amount of days. And once we hit that time, we're going to drop to the price that I've recommended and we're going to change strategies.”

Stay Tuned:
Don’t miss the next episode of Real Talk Realtor for more expert insights and strategies to elevate your real estate game. Leave your comments and feedback below, and follow Daniel on Instagram to connect further.