← Your Daily Real Estate Podcast with Tristan Ahumada
Your Daily Real Estate Podcast with Tristan Ahumada
Episode 892: They Gained $47k While Sleeping. Are You Telling Them?
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Your client has a financial Advisor for their 401k. They have an accountant for their taxes. They have an insurance guy, but they don't have anybody managing the single biggest asset. They own their house now. That's your job. Most agents don't claim it, though. So today I hope I can change that for you. Welcome back to your daily Real Estate. I'm Tristan Almada. Today is reason number five in our Value First Outreach series. And this is one of the most important plays I'll teach you this week. The wealth check, the annual equity review. And I've talked about it before in some past videos, but here's the mindset shift. Stop thinking of your past clients as homeowners, even though they are. I want you to start thinking about them as investors who happen to live in their investment. Why? Well, for most Americans, their home is the largest asset on their personal balance sheet, and it's going to continue to be that way, especially after the last few years of equity just going through the roof, right? It's bigger than their savings. It's bigger than anything they own. Typically. Now, you wouldn't go a year without checking your 401k. At least most people wouldn't. So why would they go a year without knowing what their home is doing? And in some cases, they think they know because they go on Google, they go on Redfin, they go on Zillow and they try to find out. Now, most people aren't going to go through and wonder, I wonder what my home is worth without going to Zillow. Just not what it's like. So it's your job to get in there. And that's really the gap. That's where you live when you do this. Well, you're not making a sales call, you're making a financial advisory call. And it sounds like it, too. You're an asset manager checking in on a specific asset in their portfolio. That's a completely different conversation than, hey, I'm just checking in. I'm just touching base. Every time I say that, I imagine the salesy guy with a mustache and a red tie and stains on his white shirt. That's just what I imagine. It's just so, so bad and salesy. Now, here's the text version that I hope you modify or use. Hey, Joe, it's time for your annual real estate review. I put together a quick report on how much equity you've gained over the last 12 months. I'm going to email it over, unless you want me to text it over. That's it. You're not giving them an option. You're doing it, you're sending it to them. A lot of the times I hear this and people change it and they're like, want me to email it over? Listen, just do it. I'm going to email this to you. Or would you like that by text? And the call version is similar, but again, most people don't pick up the phone now, so texting is what happens. Hey, Joanne. I'm doing my annual review for clients to help them track their net worth. I ran the numbers on your home, and You've gained about 47,000 in equity since we last spoke. Now, this could also go reverse, so just hold on tight. Got a few minutes to walk through the numbers, Right. A little different, Right. Notice the call opens with the number, not the other way around. But if you're in an area that has gone down in the last year, that's also news. It's also our job to report that. And those are a little harder. But you've got to give those numbers out. We did that to one of our clients that moved to Florida. Their property dropped since they purchased $62,000, which is crazy. But they want to move. They're in a position to be able to move. They feel like maybe this isn't the place for them in Florida and I'm in California. But regardless of which route you take, or maybe you take both. That's the hook. Now, what's in the report? Five things. And I want you to write these down. And if you need this, I can send this over to you. But here they are, what they paid. Two, Current estimated value. Now that's up to you. And you could use Chat GPT. You can use Claude. I prefer you use Claude for something like this. Or you can use Perplexity, which is great for research. Just have it broken down, see where the sources are. Right. 3. Equity gained. 4. What comparable homes have sold typically in the last 12 months? 5, Projected appreciation for the next 12 months based on local data. And I think this is where your expertise, your knowledge comes into play, because only you know typically where the market is heading based on what's happening right now. But you need to be paying attention to the market. And even if you're predicting 12 months, which I think is kind of long, you're still letting them know, hey, this is just an estimate. We don't know anything can happen. But you can build this out in canva in. In 30 minutes to an hour, especially if you've got a template. One page. Pretty easy Their address at the top, their name. You could also probably build it easier on Claude connected to Canva or GPT connected to Canva. Or you could probably just create it on Perplexity since it has all the models that could bring in Nano, Banana 2 and all these other ones. That would probably be where I would build it. But it's got their name. Looks like something a wealth manager would send. Now here's why this is bigger than any other outreach. At least it has the implication to be because you're not asking them to do anything. You're showing up like a professional with data. And the natural follow up question is always, well, what do I do with this? Right? That's the question that's being asked. Thank you for this. But why is it important in some cases or that maybe they get emotional? Right? Especially if it went backwards. But now you're having that real estate conversation about their next move. Why is this important Refi equity line investment properties selling without you ever bringing it up first? You know what they tell their friends too? My agent does an equity annual report or an annual equity report every year for me. They maybe do it every half year, every six months. Right. Nobody else's agent does this routinely and then that becomes standard. And you build that template once you run reports for 10 clients per week. Maybe that's a little too much if you don't have a big database, but maybe you do one. And if you're doing one a week, that's 52 in a year. But as you meet more people and add them to your database, then it becomes a lot easier if you create that template on perplexity in a project with a skill and it's ready to go. In fact, that's a really good idea on a workshop. I'm probably going to do that one anyway. You send the text, you set the call, walk through the numbers and that's it. 12 months later or six months later, you talk to every single past client about their net worth. Once a year, minimum your homework today, pick three past clients, pull their property records, build the one pager, send the text exactly as I said or similarly. And then watch what happens tomorrow. We're going into reason number. I think it's reason number six. I'm. I'm lost on this one. I think it's six. Reason number six. The magic number. But listen, this next one you won't want to miss. It's almost the end of the seven, but hit subscribe. Share this with somebody you think may need this. This has been super valuable in our business, and I would love for you to try this. Have an awesome day.