Podcast Episode #48 – Kevin Yu and Glenn McQueenie

“20 Minutes of Successful Niche Secrets – EPISODE 48”,

Where Kevin Yu talks about expanding his business and giving his customers an amazing experience in the process

 

“20 Minutes of Successful Niche Secrets – EPISODE 48,”

Where Kevin Yu talks about expanding his business and giving his customers an amazing experience in the process

Glenn: Hi! It’s Glenn McQueenie, and thanks for listening to my Success Series Podcast. Today’s special guest is Kevin Yu, the Broker of Record for Royal LePage Terrequity Kevin Yu Brokerage in Toronto. Kevin, welcome, and thanks for joining me on the line.

Kevin: Hi Glenn. Thank you for having me on your show.

Glenn: Yeah, well I’m excited! So just give me a little idea of how long you’ve been in the business, where you get most of your business now, and then where you’d like to take your business. And then let’s see if we can come up with some fun, exciting ideas!

Kevin: Oh, that’s awesome, Glenn. I’ve been in the business for about nine years. Wow. It’s weird to think of it. I’ve been a realtor for nine years. I get most of my business from my database. I’ve been really good at generating referrals out of it, and I have a method for that (70% of my business is from my database).

Glenn: That’s great.

Kevin: I do drop bys, calls and such, and I’m very good at touch points with them. That’s what I’ve been doing for the last five years.

Glenn: Okay. And then where do you want to take your business? What’s the next step for you over the next couple of years?

Kevin: Well, doubling my income would be good – just like one of your first books!

Glenn: Okay.

Kevin: That would be a great go. I just find that I’m at a ceiling right now, where I can’t pass a certain GCI, and I’m doing the same things. Don’t get me wrong – I love my business – but I want to get to the point where I don’t have to work weekends anymore and I don’t have to work evenings. That’s the goal (while doubling my income).

Glenn: Alright! Well, there’s this kind of magical thing that happens for most realtors between year eight and 12 – so your timing’s right on there. After you build up your business to a certain level, there’s a certain point where you get – I don’t know if “bored” is the right answer – but it’s the same stuff, just a different client. It’s the same old business every single time. So what most people do once they get to that level, it’s like, “Okay, now how can I leverage my business so I can just get more freedom of time, freedom of money, spend more time in relationships with people I care about, and build wealth for the future?” Is that where you are right now?

Kevin: It’s exactly where I am right now, Glenn. That’s exactly where I am. I’m doing well, business is good, but it is the same old, same old. I’ve lost my “fire,” as we say, from the first three years where I was running around like crazy, doing a lot of deals. At the same time, back then there was not a lot of free time. It was all just business, business, business. My priorities have changed a little bit because I have a young family. I have a six-year-old daughter and a beautiful wife I want to spend more time with.

Glenn: Right. So it’s more time leverage and also money freedom, I guess, is what you really want.

Kevin: That’s exactly what I want.

Glenn: Okay. And do you have a team or are you a solo agent right now?

Kevin: Well, I used to have actually a bricks and work brokerage in Liberty Village. I had a team with my old partner where we had an agent and an administrator, but since then, we’ve disbanded that. So now I’m building my team up again. I have two admin staff to help with marketing and admin stuff, and I also have one agent that just signed on with me right now to hopefully take on leads and such.

Glenn: Okay. The first freedom you get in real estate is your administrative time, and you’ve already started building that (just the simple following up, staying day-to-day, staying current with all the things that most agents find highly irritating, right? The paperwork, the follow-up, what’s got to get done). Is that where you are?

Kevin: Yes. My admin staff I have, some are part-time, and they handle my marketing, my processing of the paperwork, calling for home inspectors, photographers – that sort of stuff. They handle that stuff with the listing part, so that I am not focusing on those sorts of things.

Glenn: Perfect. And then the second biggest freedom you’re going to get is when you can actually get either a showing specialist or some type of buyer agent into your business, right? There’s a really cool model that most agents can get to 36-40 deals by themselves, and then they max themselves out. Then with their admin help, they can usually get to 60. But then to grow their business any more, they need to leverage off all the buying time. Some people might say, “I did 30 deals last year,” but they might have actually been spending time with 60, 70 or 80 buyers. Buyers take a lot more time than your listings do.

Kevin: Yeah. I pretty much have the listing down pat. We have processes and systems, so when I put a listing on, it’s very easy for me to handle five or 10 listings at a time.

Glenn: Right. Great! That’s the beautiful part of leverage. What you can do in real estate is you can actually price your time for activities, right? If you were to list a property and it’s priced right and it shows well, how many hours total from when you meet the person to “Sold” (done, firm deal) would you say, on average, it’s taking you in Toronto right now?

Kevin: Probably a little bit under 10 hours, I’m thinking.

Glenn: Right. So 10 hours. And what would be your average price that you’re selling your listing at?

Kevin: We’re selling about $600,000 - $700,000. So that’s about $16,000 - $18,000 for the commission.

Glenn: Right. So if we could price listing time (which is actually getting the listing appointment, meeting with the people, getting the listing agreement signed, doing the offer, and negotiating), we can almost price that 10 hours at, say – let’s say it was even 20 hours – at a $16,000 commission, is about $800 an hour. That’s what the listing time is actually worth, gross, to most realtors, right? Now let’s look at the buying time, because we can price that in the marketplace, too. What would it cost you to hire somebody to just do showings for you? Where’s the market? If you look around, how much do you think you’d have to pay somebody on an hourly basis to show?

Kevin: I don’t know. I’ve never really thought about that part, Glenn. I’ve never really priced my per hour for work on the buyers, because they range from doing three showings for finding a place to – I have one that’s been like 150. 

Glenn: Right. In Toronto, I think the marketplace to have someone doing your showings is anywhere from $25 - $75 an hour. Would you agree that you could get someone in your office to go and show somebody if you offered them that money?

Kevin: 100%.

Glenn: 100%. So we know that the buying part can actually be priced out at $25 - $75 an hour. So let’s just call it $50 – right in the middle, right? And then your admin time, we can price that, too. I think the market right now for admin in Toronto is anywhere from maybe $16 - $26 an hour. Does that sound reasonable?

Kevin: Yeah, that sounds very reasonable.

Glenn: Right. Most agents, when they want to double their income or they want to make more money, all they think about is that it’s going to take them more time to actually do it. But the truth is, in real estate, there’s no correlation between time spent and money made. I know some agents who can make a lot of money and are on vacation half the time because they’ve got a pretty good team leveraged. And then I know some agents who work 16 hours a day, 7 days a week, to maybe make $50,000, $60,000, or $70,000 gross.

Kevin: Yeah, I’ve seen both agents.

Glenn: Right. Exactly. So if you look at this whole idea (and I got this idea from Dan Sullivan at Strategic Coach, who’s been one of my coaches), you can actually price your time. And then if you had to think off the top of your head, what percentage in any given week are you just doing the listing side, just working with buyers, or doing admin? What would be the percentage breakdown right now? I know admin’s a bit crazy because you’ve already got that hired, but just between buyers and listings, what would be your split right now?

Kevin: Well, it seems like the amount of listings and buyers I have right now is about 60% listings and 40% buyers.

Glenn: Right.

Kevin: The amount of time I spend on listings is not too much, because it’s pretty leveraged right now. It’s pretty much dealing with agents calling, my client calling – that’s about it, and those are only, I’m thinking, half an hour a day (in terms of dealing with that sort of stuff). Buyers do take up a lot more of my time, because I find that I have to look on MLS every day and break it down, and look at comparables. And if it’s an investor, I have to do a cash flow analysis, and make sure that they’re okay with each of them. And that’s not including going out with the buyers as well. Every time you go out, it’s prepping, and leaving, and going, and driving. It’s probably about two hours plus that time, so it’s a lot more on that side. It’s way more.

Glenn: Yeah. That becomes the trap that most realtors fall into, is that most of their time is spent on the buyer side of their business, because the listing is pretty leveraged. If you get a price right, nail it, list it, and market it properly – it’s gone, right? With buyers, you really have no control, especially when you get those calls (like the Sunday, 8:30pm call from your client), “Hey, we found something on MLS.” And you’re like, “Oh, I’ve already seen it. It’s not for you.” And they’re like, “Oh, well we’re going to Florida tomorrow. Is there any way you can just show it to us tonight?” So you get out of your pyjamas and drive across town and show it and they walk in, and within a minute, they’re like, “Yeah, this isn’t for us.” There’s a lot of wasted time on buyers, too.

Kevin: Lots. And that sounds very familiar, Glenn. I’ve been there many times.

Glenn: Same here – done it many times. If you think about it, really, the game you get to play now is how can I buy back my $800 - $1000 an hour time with $50 an hour showing time? That’s the transfer you get to do, right? I know another friend of mine who lives in Thornhill, and to get to downtown Toronto is about an hour and a half in rush hour traffic, and an hour and a half home. He decided that he was going to Uber each way so that he could work that extra hour and a half. Now he bills his time at $500 an hour, and he pays Uber basically $30 an hour to be his private driver. So in a month, it’s 60 hours of Uber, which is like $1800. He says, “But Glenn, I’m basically trading $500 an hour time for $30 an hour.”

Kevin: That’s pretty smart actually.

Glenn: Right! And it’s incredible actually how many agents now are getting Ubers to showings or even thinking about hiring drivers, because that’s the biggest problem (especially if you’re in downtown Toronto showing). It’s just a hassle to move anywhere and park anywhere and get in and out. One trip downtown for most realtors to show one house could be a three-hour round trip, right?

Kevin: I understand. And then in rush hour, tack on another hour.

Glenn: Exactly! Right. So that’s the first point I would probably tell you over the next 90 days. It sounds like you’ve just hired somebody – but what can you do now to try to get them trained, up to speed, to operating like you did? But I’ve got to tell you, this is the warning sign. Most agents will have a hard time allowing someone else to show their clients, because their feedback loop all the time has been, “Hey, I couldn’t have done this without you, Kevin. Thank you so much. You helped me so much all through this journey.” Have you heard that before from your buyers?

Kevin: I have, but I’m not in that sort of mindset anymore. I think it’s from being with some other people that I read this saying that says, “Clients like you for your standards, but they’re not committed to you.” Committed to your standards, but not to you.

Glenn: Exactly. And the thing is, once you can train out your standards, you can get that away. I went through this myself, because I was doing a lot of transactions a year. I was doing everything, and then I woke up one morning and I was like, “Okay, knock on wood, but what if I died today? What would all of my clients do?” And I quickly realized that they would just go and buy and sell houses with somebody else, right? Although they were telling me I was so important to the transaction, I thought really, if you look at it, they’ll go and do it with anybody if you’re not around. So I was like, if I could just train someone to do my standards, then I could get out of the business. So I did that. We’d start with 10 initial consultations where I would talk 100%, and then after 10, the buyer agent who’d been attending each one of them, they’d be talking 100%, so they’re trained up on that. I’d bring them out on the orientation tours, and they wouldn’t talk at first, and after 10 tours, they knew exactly what to do. My biggest relief came when I just got them to do my showings. I would tell the client (and I would always refer up), “You’re going to my showing specialist. This person is better at finding a home than I am. But when you find that home, I’m going to come and make sure it’s the right home, and then take over the negotiations.” I never said, “You’re going to my showing assistant.” That was the first step to getting rid of some of the hours. Does that make sense?

Kevin: Makes total sense.

Glenn: Yeah. And then you work that buyer agent to where they take over the negotiations, too, and eventually, they’re just all on their own. But it’s a phase. Over the next 12 months, you could have one buyer agent start out, and in 12 months, you could almost be free of your buyers.

Kevin: That’s amazing. That’s my big goal, anyways, is to not work weekends by getting a buyer agent to handle all those evening showings and weekend showings.

Glenn: Yeah, exactly. So we got that one figured out, so let’s talk about your niche market. So now you’ve got all this extra time. Your buyer’s being taken care of from your existing clients and other referrals you’re getting, and now you want to start dominating a niche. What would that be? Who’s your dream-come-true client?

Kevin: I’ve been thinking about this one for awhile, Glenn, and after reading your book, “The McQueenie Method,” it gave me a lot of insight. I actually did a lot of soul-searching and a lot of brainstorming, and I figured that my perfect client is a client that’s a very young family with one and a half kids, probably (or just one). They’re living in a small condo townhouse right now that’s either two or three bedrooms, and they need to move up to a freehold home that’s a little bit bigger in space.

Glenn: Okay. So why do you like that? Is that where you are right now in your life or are you around that same demographic?

Kevin: Yeah, that is my demographic, and I actually did it myself. A few years ago, I was in a condo townhouse with my wife. It was a three-bedroom, 1,200 square feet – still a decent size – but we wanted to have a freehold home, a big detached. We couldn’t just buy a big enough house. The house that we wanted was out of our price range.

Glenn: Right.

Kevin: So instead, we were looking for houses that have the rental component in it – that had the basement apartment. We found one that actually had the capability (it was an unfinished basement, so we brought in contractors). We bought the house, got contractors to come in, and now I’m renting my basement for $1600, and my total carrying costs for my five-bedroom detached house is lower than my condo townhouse.

Glenn: That’s the story! This is exactly the story you need to build your niche around, because I don’t think most people living in condos even understand you get $1600 in rent. They’re probably still thinking, when they were renting, it was $700 or $1100. And they probably also don’t understand that $1600 would carry almost a $400,000 mortgage.

Kevin: I know. It’s amazing. It’s fantastic.

Glenn: Yeah! And the taxes, although they might be higher on a freehold, proportionately they’re lower, and the same proportion as condos. And you don’t have that big maintenance fee.

Kevin: Exactly.

Glenn: So what if we just built a niche around how to get the freehold home at the same monthly cost as your condo? What if we could build some type of page or business around just that concept? I always think when you’re planning your niche, you have to go back into your customer’s head and pretend you’re lying in bed with them and they’re having a conversation. What was the conversation you and your wife were having at night before you went to bed? The conversation would probably be like, “Okay, I’m really sick of this condo, and we’ve got a young kid. I don’t want the kid to grow up in a condo. I want to have a backyard, and I want them to have the same kind of life that I had.” So there’s this ongoing conversation with the pressure mounting for most couples that have kids inside their condo.

Kevin: At some point, yeah, we were having those conversations. We’re like, “We could stay here, but we’re going to run out of space very soon.” The spread between a condo and a freehold home was getting bigger and bigger, so that urgency sort of made us do it sooner rather than later, which we’re so happy we did.

Glenn: Right. And isn’t it interesting in this market now, where the condo prices in Toronto, for sure, have totally maintained their pace? Still pretty hot commodities right now. We’ve had some slippage, maybe, in the more freehold markets (I’m talking more of the outlying Toronto). I think some of the key neighbourhoods in Toronto are just as expensive, but that gap is really relatively small, especially in today’s interest rates, right?

Kevin: Yeah. And the condo markets are insane right now. I have a bunch of clients that did that jump right now. I convinced them. I’m like, “This is the time. You could buy a freehold home. Buy the freehold home, and then you know that the condo’s going to sell, because it’s like 10 offers on each condo right now.”

Glenn: Right. So what if you created – I always like Facebook, just because it’s a really interesting way of targeting your market – but what if you had a Facebook page called “Condo to Freehold Toronto,” where everything is about posting properties with basement apartments, or that you could add a basement apartment to that would carry for exactly what they’re paying for their condo right now?

Kevin: That would be amazing. Yeah, that’s a great idea!

Glenn: Yeah. You could find a bunch of homes right now, and couldn’t you almost spotlight those homes on your Facebook page? “Hey, there’s a new listing here.” “There’s something like this.” “Hey, right now would you like a free list of the nine freehold houses on the Danforth or in Bloor West or in High Park – Swansea (and for those people listening, these are all areas that typically people move out of condos and go into in Toronto) that would carry for less than your condo is?”

Kevin: That’s not that hard to do. I do that anyways for a lot of my investor clients who are looking for at least two units in houses.

Glenn: Right. And then the beautiful thing about this is, who would want that list? Who would want the list of a freehold house that would carry for the same as my condo is carrying for right now?

Kevin: Anyone that’s looking for the move-up right now.

Glenn: That’s right! So all we have to do is give them the right lure, and then they’re going to be the ones reaching out to it. We could also do a tour, right? I was helping a guy in Montreal who was in a very similar market to you. He was moving from a condo into an older home, like 1910 to 1930 in downtown Montreal (which is the same in Toronto – same age houses). He believed that their biggest fear was, “If I’m going to move up, will I have any money? Is this house going to bankrupt me because there’s all these repairs?” So what I suggested to him, and I’d do the same to you, is why don’t you do the weekend tour of those homes with a home inspector who actually comes and educates them? Couldn’t you have five couples join you on one tour on Saturday between 11am and 1pm, find a babysitter for all of their kids, and bring them out (because you know what it’s like seeing homes with a child – they’re good for one home, right?) That’s what we’re actually promoting, is “Here’s the Saturday tour from 11-1 to go and see these properties.” Or, if they don’t want to worry about the kids, how about the lunch tour from 12-1 in the area that they’re looking at? “We’ll pick you up and we’ll Uber you over, and we’re going to go and show you three or four houses in that very short deadline that we have at lunch. You take an extra hour, you have two hours, and you can go and see it.” And then all we really have to do is target those properties, and target the offerings of the tours for people like you to put their hand up and go, “Hey, I want to get on that tour.”

Kevin: Yeah. It sounds different, for sure, and it’s a way to get a lot of people together, right?

Glenn: Yeah. And if you’re targeting people just like you, with kids, the biggest factor for most of them is not even the house, I would argue right now; it’s the school district that they’re going to be going into. Would you agree?

Kevin: Yeah, 100%. That is one thing that’s always on parents’ minds when they’re looking, especially for the move-up. I’ve seen it time and time again that parents are always worried about the school district – what’s the school like when they move in, what’s the grading, what’s the history, and what’s the demographic and such?

Glenn: Yeah. So on that same “Condo to Freehold” business page, couldn’t you put, “Hey, I just compiled the list of the Top 10 Best School Districts to move up to from your Condo. Just private message me if you want this list.” You could find that list pretty quickly, right? When they message you for the list, you can just reply and go, “Okay, I want to make sure I’m sending you the right list. What area are you looking in?” And now you can just (via private message), do a buyer consultation with them, and then you could easily pick the best schools in that area, right?

Kevin: Oh yeah, and then you customize it to what they’re looking for then.

Glenn: Absolutely. And then I wonder if we could do something like this. This might be fun. I’ll tell you what I’m thinking about. What’s the easy button where someone could find out exactly what their condo’s worth? (Although, most of them already know, because they can find out what everything’s sold for – it’s not this big value-add). We could present something to them where it’s like, “If you live here, your condo’s probably worth this. And if you’re moving here, it’s probably this, and the spread is this. That’s going to be an extra $1600 a month in mortgage payments, but if we get a basement apartment, even for the first couple of years, it’s $0.” Could we almost build a table in different areas of the spread showing what it would cost to buy from here to a freehold, and offer that as basically a download? You’re just adding value and positioning yourself as the expert – that you know the gap to move in all the areas they’re thinking about moving in.

Kevin: That’s pretty awesome. I just have to get averages for that, and we know what areas they do want to move in anyways. A lot of times, they’re going to be moving to another part in the city or just outside of the city, right?

Glenn: Right. And then what you’re going to find is people will rally around the conversation you have with them. Next time you’re at a listing, and someone comes to you (and it’s a condo, or whatever) and they go, “Oh, how’s the market?” Instead of just saying what everyone else says – “Oh, it’s good. It’s really busy,” why don’t you say, “Oh, it’s great! I just helped a young couple sell their condo for more than they thought they were going to get, and they were able to buy this freehold house for less than they thought. It’s got a basement apartment, and it’s actually cheaper to carry that house than it was to live in their condo right now. They’re in a great school district, they’ve got a great backyard for their kids, they’ve got parking for their car, and they don’t have to use the elevator anymore.” The more you tell that story every time anybody ever asks you about real estate – that’s the winning formula. Then at the end of the story, you just say, “Who do you know that’s thinking about moving out of their condo to here, because there’s a great deal on the market here and this is what it would carry for because of the basement.”

Kevin: Yeah, that’s a great story, and people love stories, right?

Glenn: And what if you could go back to your past client base right now because you’ve already sold them all their condos already? You know they’re thinking about moving. Send them a newsletter and just feature two stories of people just like them who you helped move up, because I want them to read that and go, “That’s me! I thought Kevin just sold condos. I didn’t know his specialty was actually moving people from the condo into that neighbourhood.”

Kevin: That’ll be a great idea, too, to touch my database, for sure. And I know who’s living in condos right now and who has kids, right?

Glenn: Exactly! You could almost target that, right? You could even just call them. I always teach our agents to call and ask their past clients two questions: “How are you? How’s the house?” That’s all you have to say. And then they’re inevitably going to ask about the market, and then that gives you the opportunity to actually start talking about what you do. And then because we’re running overtime here, the last idea I’d give you is, what if you did video CMAs for all of those people who are sitting in their condos right now who you think are most likely to move?

Kevin: Wow.

Glenn: A video CMA is basically just, open up your computer (your PC). You’ve got your phone, and I would just lift up the phone, look into it and go, “Hey John, it’s Glenn. Just wanted to let you know I’m looking at some of the recent sales in your building.” And then you turn the phone, put it onto the MLS, say, “Look. These units here sold for this, this, and this. Looks like your investment’s doing really well.” Then you turn the phone back to you. “Looks like things are doing really well. I thought you’d just want to know. Take care. Talk to you soon.” Boom. And then just send them the video link.

Kevin: Wow, that’s awesome. Actually, I’m doing something very similar to that. I’m doing CMAs through Google Hangouts, and I do about three a week with my clients. And it’s working – I’ve found a couple of clients that are possibly ready to move because of this task that I do every week.

Glenn: Yeah, that’s great! And I would add the video to those Hangouts, because there’s nothing more personal than them seeing your face. When you do the 30-second video CMA, it says, “Oh, I’m important. I matter. You didn’t forget me. Kevin’s a great guy for sending this to me.” At the end of the call, don’t go, “So if you’re thinking about buying or selling, call me.” No. You’ve ruined it. Or “Hey, I heart referrals,” or “I love referrals.” You’ve ruined it. Just give from contribution and say, “I was just thinking about you. Thought you’d want to know. Talk to you later.” I don’t know why every financial planner doesn’t do a video every month to their client for 30 seconds, saying, “Hey, listen. I’m just looking at your investment. Everything’s fine. Don’t worry about it.”

Kevin: Yeah, it’s a good touch point for sure. And it’s better than email or texts, or anything else.

Glenn: Yeah, for sure. So have you got some good ideas? Do you think you can figure this out?

Kevin: I do, Glenn, but I have a question for you, though. I saw this in your book. I’m sort of stuck at a part there – it’s your ‘1-3-5’ part of the book. I was wondering if you could give me some insight and how to actually break down my goals?

Glenn: Sure. So the ‘1-3-5’ is just a tool that really helps you basically set your plan for the year, right? It’s a really simple tool. You could do it for a project, or you could do it for the year. So the ‘1’ stands for, what’s your one goal? The ‘3’ is what are the three strategies that if you executed the strategies, you will hit your goal? And then what are the five priorities that have to be done in order that each strategy is hit? And you can reverse it. You can say, “There’s my goal. What are my three priorities to hit the goal? And then what are my five strategies?” It doesn’t really matter between priorities and strategies. So let’s say your goal this year was to do 15 more transactions of just helping people move up from condos to freehold homes. Would that be a good goal for you – 15 additional?

Kevin: That would be amazing.

Glenn: Okay. So what are the three things that we have to do in order for you to hit that goal? So number one would be go back to your own existing database and see who is most likely to make the move from your past clients. Number two would be create a Facebook page where I could do targeted ads in order to deliver the product they’re looking for to people who are thinking about buying that product, right? And number three, what is the unique experience I could create for these people that would get them out on the tour with me, and also create a tribe of raving fans? That’s your one, two, three, right? Have you got that so far?

Kevin: I think so, yes.

Glenn: Yeah. So under the first one, now we have to list the five action steps, basically, that will help you hit that first goal. So the first step would be “Open up database,” right? “Go through all my past clients and circle the people most likely to do something.” Number three, “Either do a video CMA, or call them and ask them, ‘How are they doing? How’s their home?’” Number four, “Write a newsletter article that would be targeted (it would seem like it’s going out to everybody, but it’s really going out to them), talking about how you helped somebody just like them solve that problem.” And number five, “Follow up on the above four.” Does that make sense?

Kevin: Yep.

Glenn: Yeah. And what was the second one? I forgot already.

Kevin: Create a Facebook page.

Glenn: Yeah! So that’ll probably be easy. It’s like, “Go to Facebook, create the page,” “Come up with the name for the page,” “Start having great content marketing that’s going to attract only those type of people,” “Share your testimonials from people you’ve already helped and tell your story,” and five, “Put more offers out there” – “Here’s my list of the Top 10 Freehold Homes that you can move up to that have basement apartments that carry for exactly what your condo is.” And then the third one about creating a unique experience would be, “Schedule a weekend tour or a lunch tour of these very specific homes” (that would be number one). Number two (if it’s on the weekend), “Arrange for babysitting for those people who are going to come on the tour.” Number three, “Bring a home inspector along to make sure that all the repairs they’re thinking about aren’t really that big of a deal, and to see if it’s possible to put in a basement apartment.” Number four, “Do the breakdown” – “Okay, with this basement apartment and this price, this is exactly what it’s going to cost to carry your house.” And then the fifth would be, “Schedule more tours, create my tribe of raving fans, and position yourself to get lots of referrals from them.” So if you built that, the ‘1-3-5,’ then all you have to do is just focus on the five key tasks below, and then that will all feed up to the three main priorities or strategies you need in order to hit your big goal for the year.

Kevin: Makes sense. Thank you for breaking that down. Now that you broke it down into some actual steps, it seems like it’s more attainable now.

Glenn: Yeah. And the easiest way to look at it is, ‘1’ would be, “I’m planning a vacation.” The ‘3’ thing would be, “Book it, Find out where to go, Set your budget.” And then the ‘5’ steps are what you need to do under each of those three categories.

Kevin: Makes sense. Makes sense.

Glenn: Alright! Well thank you, Kevin. Thanks for joining me. Do you have any other questions, or are we good?

Kevin: You covered everything, Glenn, and that was very, very informative and helpful. Thank you.

Glenn: Great! Alright, well thanks a million for joining me! We’ll talk to you soon!

Kevin: Okay. Thank you!

Glenn: Okay, bye.

Kevin: Bye.

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