But this question is the question. Take a photo of it because this is the one I Want you to think about tonight. If you were to go for crazy in the next 10 years, what would crazy look like? What would like mind-boggling insane look like what would ultimate success look like Health and family and relationships in finance and impact in contribution. Now you've all heard this before and remember I'm only on point number one.

and point number one is I've lost the fire. How do I get it back and Deb this is temporary, but if we don't re-light the fire, what happens? We become complacent. all right. So we got a lot of ground to cover and I know I got a bunch of drifters drifting in the room so uh hey, can we really fast for all of us in the room? Look back to that camera over there and let's give about 15 000 people around the world a big shout out watching on the live cast.

Can you guys do that for me? Thank you I Know some of you are in big rooms, some of you are by yourself. We want to just say thank you so much. All right I Know people are drifting in I don't care, we're gonna get started. Let's we got a lot of ground to cover.

How many of you say I if this is your first summit, say I All right Tom X was a warm-up and yet inside of that warm-up you got a tremendous amount of value. Um, hard. hard to argue against for me having started that in 2012, that was the best Tomax I'd ever seen. Um, each and every one of them.

Could we give all of them just a giant Round of Applause to thank you I know many of you, many of you inside this room have been on this stage and you've done something similar. So Brian it's just it's fun to watch like a Maureen get up and talk about just one little thing that she does. It generates 30 or 40 listings a year as the like number 13 or 14 broker in all of Manhattan right to get those insights. But before we go into this, I'm actually going to go here.

that's who's watching right now around the world. We got some pretty good coverage, lots of different languages, lots of interesting people, lots of great real estate professionals everywhere but in your workbook. go to I think it's like page 29 or something. find out wherever you are and Adam what I want to do is just take a second and get settled around.

Why are you here and I'd love as you get to page 29 I'd love you to write down very quickly like Matt what are the three reasons out of your hair? It could be What is it you want out of the event it could be you're looking for something specific in your business. It could be man. I just needed a break right? So just write down very quickly. What are the three reasons that you're here and that as soon as you got it? I Want you to share it with the person your writer left? What are the three reasons that you're here? What do you most need from our experience and time together? What do you need? Write it down.

What do you most need? Why are you here? What's up? Charles Netter What do you need? Why are you here and again? I Honor the fact that I have friends inside the room that this could be their 15th, 16th, 17th Summit I Still owe you a shirt Laughs So for them it might be a different experience than maybe one of you that is watching live or here inside the room. And this is the first time that you're here and you just got this incredible exposure of all these Tom xers and I'm about to come at you in a in a very dare I say honest yet aggressive way because my whole conversation with you to get this thing started Byron is similar to what we did yesterday on the golf course right? minus the bad golf, but it was the exploration of what we need to be doing now to position ourselves not just for the balance of the year, but for the next three to five years. so very quickly just maybe share in your notes. Just one reason.

Tell the person you're right or laughter around you. What is the one or two reasons why you're here? What do you most need for this conference? Share it really quick. Go. What do you got Kenny Why are you here? I Love that I Love it.

What do you got Little baby? Love it. Love it. What do you got? Yeah, Exactly The network, the community right? Love it. Love it.

Yes. mindset. All right. So come back to me.

Come back to me. So Amy I'm gonna make the Assumption very quickly that everybody inside this room is at a pretty high level of commitment when it comes to their success. Is that a fair assumption? Yes or no, right that there's nobody inside this room. That's you know, questioning themselves at a high level.

they're just like Eddie I'm here I'm committed. What do I have to do like you and I be doing this for a long time together? We know what that feeling is like, but the second one is I Think a lot of you are starting to recognize that if you want things to change, the person sitting in your seat has got to make some adjustments. Is that fair? Okay, do me a favor though. I Want you to show your body visually like this is how much change you need to make or this is how much change you need to make.

Show your partner how much change. Okay, I'm not looking for that much I Hope no one in this room is like help me change everything, right? I Think the vast majority of us, the vast majority of his show were probably about this much. The the challenges look up here my friends. The challenge is you've been making changes Chris You and I both know it right.

They've been making changes since August of last year. It's we're down to the final mile though. we're down to the changes that you've been resisting. We're down to the changes that you know you should do.

but for whatever reason, sunk cost, thinking, confirmation bias, you're just stuck. So I'm also going to make the argument that inside this room, you wouldn't be here online or together. If you weren't wide open to new ideas, you were what I mean It's like it's It's who we are as a community. It's who we are as an ecosystem, right? It's Matt it's pushing the envelope.

It's being first into the marketplace. It's being the ones that are changing before everybody else. but then the last one is I Know you're here to maintain some level of focus and concentration to get the guard rails up because all of us have figured out. Look up here.

this is the market for the next three to five years. Are you excited? I'm thrilled I'm thrilled that this is the market because this is the time with the very best. People, get their heads on straight and take even more market share and I'm going to make the argument at least for the US and Canada that we only need 158 000 agents that 150 158 000 agencies. All we need now.

Hold on, hold on because some of you that are clapping you might ask yourself what does it mean to be one of those but I'm going to get to that in a minute. So why are we really here? For a lot of my friends, it's sharpening the ax for some of you. It's getting updated and reconnected with friends, right? So many of us have these great relationships inside of this community. but I think the most important thing right now is this: Market is demanding concentration and focus like never before.

like Glenda that you know the world is shifted and I think most of you are paying attention. It's really starting to shift and the speed of technology is really catching up fast. I Was at a conference just a week ago and I'm sitting in Vegas Inman was happening I didn't go to that I went to this thing called Ai4 and David I went there specifically to understand the legality side of AI because you know we're in the midst of launching something for all of you and I wanted to understand that. But more importantly I wanted to sit down with a guy that created two products that all of you are very comfortable with.

He was speaking at this conference for the first time. It was the first time he's really been out of his house in a while. Um, he created two products I'm curious if you've heard of them. One is called Siri and the other one's called Alexa So he's my meeting Friday when this is over because I said to him I work with the most extraordinary agents on the planet we want to be first to Market We want to be the ones that are leading all this stuff and this guy named Igor said to me kind of a funky looking but you would kind of expect someone that created Siri and you know Alexa to maybe be slightly strange but he's my kind of strange.

Eddie We see all this stuff happening but an environment with so much going on we need to focus and concentrate on the right stuff. So I Want to start by very quickly just thanking the people that helped me make this happen. Can we think in advance? all the speakers, the tomex presenters? you can see everybody that's going to be here. Can we thank all of our clients that contributed all these extraordinary case studies that you know many of you are going to be looking at all these and trying to reimagine your business.

It's going to look a little bit like that. This group is very behind the scenes. This is my design team. This is my content creation team.

These are the ones that put all This stuff together so everything when you look around here, they made it all happen. Could we give them a giant Round of Applause Yes, Yes yes yes yes. And how about a big shout out to all of our coaches? the ones that are in the room and watching online? Okay, hold on, Hold on hold on hold on hold on. They deserve a lot of love.

My design team put my dog right there I'm looking at the other day and I was like oh man look at all these good-looking coaches and I was like what is Duke doing on there I just I thought that was cute and most importantly I want to thank all of you guys for traveling to Dallas during this really great time of weather not just in Dallas by the way, in the entire country in case you're wondering. All right. so let's get to it. How's the market? How's the market? Hmm.

In spite of the threats my friends failing Banks Crypto collapse, commission, compression inventory, there's no solution in sight. By the way, look up here. there's no solution in sight. There is no solution in sight.

The good news is Builders are building pretty rapidly and that helps them and it helps some of us that get access to that stuff. But the reality is it looks like they're going to be about 30 percent of the U.S market this year. and for my friends from Toronto we still see 17 or 20 cranes in the sky so we know it's progressing, but they can't build fast enough for the demand in the marketplace yes or no my friends. And then you take the class action lawsuit which tick tock tick tock is about two months away before we see is at the end of buyer agency commissions as we know it.

or is it the beginning of something new? Most of you know I'm betting on it's going to be something new. which is why tomorrow morning for the first time ever at a Tom Ferry Summit I've asked Coach Alicia Essig to do her entire buyer agency presentation at 8 15 tomorrow morning. Do me a favor, turn to your buddy and say drink less tonight. Maybe drink nothing tonight because I asked her to start with me early and just for context when you see why.

Matt It's so important you all know that it's going to be the rich and the rest. Whatever happens in October something is going to change and many of us will be positioned and ready and many people will be stuck saying what happened. And it's my obligation to all of you my friends to make sure that you are ready for it. So I want to remind you in this horrible Market that you're all going through in the US and Canada there will be 97 billion dollars paid out in commissions this year.

Okay, do me a favor, just turn to your buddy and say 97 billion. Maybe more importantly, tell your buddy how much of that you would like All of it. I Like that I Want Global referral fees on all of it. We do not have a problem thinking big over here.

And for my friends around the world, there will be hundreds of billions of dollars paid in commissions. And for context, who was Selling Houses in 2019? That's more than that was paid out in 2019.. there'll be more commission income paid this year in the US and Canada As an example, where I've got easy access to numbers, then we were paid out in 2019. And for many of you inside this room prior to the anomaly of the pandemic, 2019 was one of your best years ever.

So do me a favor ready. just: I Want you to look lovingly into your neighbor's eyes and if you have a threesome, this could be a moment. Look lovingly into their eyes and say there's plenty of commissions for you. Oh I Love the hug right there.

That was really good. See yes. I Like that. So let's talk about it.

Read that out loud please. Okay, we need like full Church moment here. I Need you to read that out loud with a big smile on your face? Go. That's the thing I'm obsessed with right now.

Glenda When we're out and we're doing the things that we do, how many people do we see that are just complacent right now? complacent? Let me give you another word complaining: Criticizing: Comparing themselves to the past. All of that is a sign of complacency. unwilling to do the work that's required in this environment I Look at everyone else's complacency and I kind of get excited. We only need 158 000 agents between the US and Canada It's hard for my friends in Europe Maybe we just need 30 or 40 000 taking all of Europe together.

certainly down in like uh, we'll take take Toronto Do we really need 70 000 agents in Toronto for 7 000 sales a month? What do you guys think? I I'd make the argument: we have way too many agents and all of us can be a part of the solution for the consumer. So what's actually different about this? Market Tell me if any of this resonates, the first one is the hardest. Clearly changed. So Matt What was hard selling homes during the pandemic? Remember putting out a full Hazmat suit, spraying everything down Right? Like if you're in, you know Philadelphia You could even do anything until June or July That was hard, right? but you were able to Pivot You were able to adjust.

But this is a different heart. This is a take your jacket off, roll up your sleeves, stop bitching and do the work. Market This is a blue collar, but make white collar Revenue kind of environment and if we can wrap our heads around that change. if you can wrap your head around your confirmation bias about what should be or how it's supposed to be done, If you can eliminate the sunk cost thinking and come into the reality of today's market, you can make a fortune in this market.

97 billion dollars going to be paid out. The other thing is guys, heads up, rates aren't going to drop anytime soon. They're probably going to go to nine, which is what I predicted last year. So when the rates go to nine, are you ready for that? Remember when no one was going to buy a house in the Sevens? What we're still going to do in the US 4.2 million sales.

So clearly somebody is still buying a house. Even at a seven, there's no solution to inventory. There's a massive wave of new competitors. Do you know how many companies right now are being formed that look a little bit like LegalZoom meets? We'll write your offer for two dollars.

You know that that's going to be hitting the market right away. They're like gearing up for October Whatever's going to happen. We're going to see all these things launch. But here's the thing.

I Keep writing down. No one's going to save you. Do me a favor in a very lovingly aggressive way: Turn to your neighbor and say no one is going to save you for my friends in the U.S There is no no prospecting PPP Money Do you follow me I Would like some government funds because I won't make phone calls. That's not going to happen.

No one is going to save you. Which means it is 100 up to us to take responsibility for our rescue. Yes or no my friends. Now I Know many of you are here like I know, but you understand my situation.

Anybody read these books, it's the Hunger Games right now and the whole Hunger Game experiences. Some are going to live and some are going to die. Some are going to get all the listings and some aren't. Some are going to Pivot and adjust and remember it wasn't always the strongest that survived.

If you read these great books or watched any of the films, they were all fantastic. But it truly is becoming this environment where Doug it is so extreme The Haves and the have-nots So here's my prediction. for the next three to five years, you ready? This is the market for the next three to five years. Got it? This is the market.

You should be like this. Yes, because here's what's exciting. every five additional transactions you add to your business: One Agent has to leave. No, No no, no, no.

Hold on. hold on would it not be awesome? If you could pick the agent, can you imagine you're like hey, Phil had a good month? Pack it up baby, you're done. I Don't wish Ill will on anyone but I Truly believe in my heart of hearts. the customer does deserve a better experience.

Yes or no, right? How about Levi's story at the end about his agent that said hey man, don't buy this thing, it's on Wheels Let me take you over here right? that 30 Seconds To Tell the Truth We need more of that in our industry so it's going to be like this for the next three to five years So for many it's gonna be ugly. It's gonna be challenging and for a lot of us, hey man, we're gonna take the Rapids and we're gonna Cruise as fast as we can. We're gonna do Eric all the things we have to do to not be the broke agent, but to be the wildly successful agent. So so this is really what I want to talk about and it's funny.

like Byron and I are you know, playing golf yesterday and in Dallas by the way, in case you're wondering, it was beautiful, The weather was great, it really was. It was like 95 degrees and Breezy uh, after last year's Summit right here on this stage I Remember because every year after the summit, all the questions change. The the questions go like leading up to the summit I get whatever's on the sort of zeitgeist of people's minds and then after the summit I get a whole new shift of conversations. The difference is now and I'm sure you all do this.

After every appointment you go on, you stop and you write down the concerns and considerations of the customer you were just with. right? Nine of you out of 5500 Good Um, side note: might be a good idea to start capturing the notes of what happened with every appointment to understand how the consciousness of your customers is. Shifting Because it's always moving and we all want to be on the Zeitgeist we all want to know before everybody else what is on the minds of the customers. So last year I just opened up Evernote and after every event someone would come up and say how do I do this and what do you recommend here and I just saw them speaking oh my God I can never do that and what would it take to be on TV and I started just capturing all the questions, all the questions, all the questions, all the questions leading all the way up literally until like Saturday afternoon of this week.

And what's different now is I can take the entire file and upload it into chat GPT and say synthesize for me and guess what? I'm really only being asked seven questions I Believe whether you're here to see your friends, to get recharged, to refocus your business, to modernize your marketing, to get your hands around this thing called AI Every one of us is looking for seven answers to seven questions now I took the time I might be too far away from the clicker to start synthesizing all the answers and to taking my best step forward to be that guide for you to be the person that can offer some insight and many of you you know and you hear stories of how many people I talk to and right now I've got about a thousand 76 text messages I have not responded to so far today. All that means is I am blessed to have more connections and more relationships and access to people that have insights on the market. One of my closest mentors is a guy named Joe Hanauer Joe is 84 years old I want you to picture if Yoda was a five foot four man what he would look like. That's what my buddy looks like.

Yes, thank you and literally oh, you guys are just getting here I'll start over okay and literally my friends. check this out! I am so blessed because see Joe is retired seven or eight times. He owns a bunch of a little town called Laguna Beach He used to own a company called Coal Banker you know that brand? He had another real estate company I'm forgetting the name. He started a little company called Realtor.com like he's kind of been in our industry for a while and I remember sitting with Joe and saying Joe Here's the seven questions I get the most and then just walking him through it and then my buddy Steve Azonian who's another mentor of mine who is you know, 70 and married to Lynn who he met in the third grade and he's got two sons and he's just he's in great shape like everything about him for me is the ideal.

Mentor right He's got the whole package and I said. here are the seven questions: I keep getting and then I walk them through the questions and say am I missing something because even I need a guide at times even I need that like give me perspective, tell me what's going on and every single one of them said the same thing. you're on point. The challenge is we need about 10 million agents to hear it so you're getting it first.

You guys ready now I Answered each one of them and by the way, that's the first. You're going to see that all seven are Point Number one. They're all Point number one for a reason because your question may be different from her question from his question from the dude with the great hairs question. Bro.

stand up, Just stand up dude. Can we get a camera on this? You guys see that hair don't don't cut that. If anybody says cut that, don't cut that. And if you do cut it my friend.

Kurt Castle Would like it all right. So come back to me. Come back to me. Kill the music.

So so here's the deal. You got a sneak peek of number one the number of times that I was told in the last 12 months. Tom I'm tired. The pandemic was hard and oh by the way, we had this life experience.

someone got cancer. You know someone passed away right? The real stuff that we all deal with every day right with our customers. but we also deal with it in our own lives. And and when you get a couple thousand people over 12 months that tell you they're tired, they feel beat up.

they've lost some of that fire. The question always was how do I get the fire back? You can't relate to this right? right? A little battle with breast cancer kind of toughens you up, but Karen also sometimes takes a little of our mojo away. We start to doubt ourselves. We start to question ourselves and I don't know if any of you in the room experienced that in the last 12 months, but I know many of you text me with something similar to that like am I really want to do this forever Is this what it's going to look like I'm not sure if I like this anymore and it really got me thinking this question, you ever felt like quitting Okay, let me let me try that again.

Who besides myself, has ever felt like quitting ready? No. I didn't say like quit on everything but who's ever used some nasty words and said, is this you guys ever been there say I if you've been there before. So I shared something with a very intimate group of people, many team leaders inside this room trying to help them understand that we all have those thoughts right? We all have these thoughts where like oh, is this it And it was great for me because this year I'm celebrating two decades of doing this but 34 years of my life. This is what I've been involved in and when I started reflecting back now don't clap.

It makes me feel old when I started reflecting back and thinking about the first year that we started this company. the first year Startup mode: How many of you I'm just for fun. You're one year lesson real estate. Raise your hands really high.

Have you had any thoughts of quitting yet? or just drinking? You're drinking to suppress the thoughts of quitting in case you're wondering. But in Year One I come out all fired up and many of you know who my dad is and and Eric he wasn't saying supportive things right he was saying to all of his friends, don't worry, he'll be back which is all I needed to hear to continue to persevere. But there was no doubt Jay that multiple times throughout that year, looking at my four-year-old and two-year-old knowing that I was going to be on the road basically every day for the next three to five years telling my wife I love you I'm gonna miss you because the only way I can make this work is I've got to go all in one thousand percent and the next year it actually started to pay off and I still hated it hi my name is Tom Ferry and I still hated it I hated the fact that I went from running this wildly successful company to going right down to the bottom and starting the whole thing over again and I got to like six million dollars in Revenue in my second year in business I didn't make any money I think I took a salary. kind of didn't cover any ounce of my lifestyle instead I was watching my savings account go from here to here.

Is anybody ever had that before? Raise your hands really high in your business. Okay, so I wasn't alone in my thoughts. Yes. But then in year three it felt like this massive breakthrough we we know in business.

If you can get to 10 million dollars like that's the Unicorn like you're on your way and I got to like nine six and I thought to myself it's 2006. What could go wrong? Yeah yeah, that could go wrong. that's Revenue in case you're wondering. But what was funny is I was out telling people at the end of 2006.

Hey man, sell that third house that you bought for no money down, get rid of the lease that you can't afford and maybe sell your Rolex get yourself in a cash position and oftentimes we've been in this scenario before myself included where the advice I was giving I wasn't taking I was still hiring I was still ramping up I was still trying to grow the business going right into an absolute tsunami and the next couple years there's my first five years, all five years I wanted to stop all five years in 2008 I Remember playing golf with my buddy Claude and literally saying to him, you know what man I could just go home, coach a few people and I'd be just fine and he put his hand on my shoulder and he says partner, this is just temporary. You got more to give that out of your head. that's a good friend right or wrong guys. and guess what, the next year I didn't feel like quitting but it was still hard.

I was six years in six years of Lisa saying to myself am I good at being a CEO can I really do this like I know I can go do a seminar I know I can do coach but like can I really run a business can I really lead my own Community even I was doubting it then I get so what is it? What year is that 2010 and the only difference was I launched a book and we did really well and guess what most of that year I felt like a failure most of that year I walked around saying to myself with you Dave let's go man come on you got this and then I would go home at night sometimes and think to myself what am I doing like is this it is this my life Am I going to live on the road for the rest of my life Am I gonna miss my kids and miss my family I know none of you have ever had these thoughts I know I'm alone in this right and then I started looking and saying wow the next year we did better and I still felt like quitting and then what year is that? 2012. 2012 was the first year I actually made any money in my first nine years of running a business, all the owners of companies in the room, all the team leaders in the room raise your hands really high. Do you hear me? I was nine years in nine years of watching my savings account go to this and my wife saying to me like I love you but I'm gonna miss you I'm not sure how much longer this is going to work for me. that's keeping it real, right or wrong guys.

This is the entrepreneurial story that nobody wants to talk about. The next year all of a sudden we start doing okay and then the next year I get cancer. That kind of sucks. This is how it happened.

I go into the doctor's office Dr Kathleen Hutton in Newport Beach and she says hey, let's do your annual your little too Lily white you probably got something and she's like oh, this thing on your back she's like lay down and just I was like could you put a needle in me first and numb this thing She's like I just got something I'm gonna put in this bag and like by this point she's wearing a house mat suit and she's like we're gonna send that thing off and I was like cool I'm like when are you gonna let me know she's like I'll let you know a little bit great I'm going to New York Karen Peters you were there Jill Biggs you were there Jeff Johnson where are you you were there and I'm doing a three-day conference in what's that horrible place that we called the New York area. Somebody help me out the Meadowlands and the conference ends and I Get on the plane and it's Friday Before I got on the plane phone rings it's Kathleen Hutton I'm walking with Mark Johnson through JFK I answer my phone I Go hey Kathleen she goes you have cancer I was like how about warming me up first how about a little Rapport she's like no, you got cancer, you need surgery right away and yet that year was the same year that my wife and I took our kids and we went to a little place called Jackson Hole Wyoming and I can tell you as clear as day I was in this mindset of like cancer is real and I'm Lily white and I can call my mom and say you know, maybe I shouldn't have been sitting on the beach all those years with my coloration or I could take responsibility the fact that I had to do what I had to do and then it got me into this mindset. Jay we're literally you start to look at your life and you see things differently right? Like the birth of your child makes you very quickly realize wow, like this is very real. my life is different now and in that experience I wrote for the first time uh, combined my wife and I 20-year vision and David that was the only thing that got me through that year.

That 20-year Vision where I said okay, it's 20 years from now, Michael's 34. Stevens 36. Kathy and I are living this way. we're spending a lot of time in Jackson Hole with our friends and family.

we're playing pickleball. We didn't say that because it wasn't there, but I can edit it and I'm putting all this stuff in and it's this realization now that I have more to live for than just the work, the identity of being this guy who gets on stage with his friends. Go people listen to you right? Like it was real for me. But for the first time in a long time, it wasn't just about another session, another call, another this, another airplane, another trip, another event and then look what happened the second I got clear.

the second I was like that's where I'm going. This is who I am. This is what I stand for. This is what I'm not going to stand for.

All of a sudden the business takes off. all of a sudden everything starts working and then what happened that next year does anybody else remember March 15th ish of 2020 and I remember being not in a panic I was actually very certain I'm like okay I got Early Access from a friend who's probably watching now Janelle Garrison who said hey Orange County is going to shut down but just for like two weeks. Remember that two-week conversation I was like awesome. Two weeks we'll sit by the pool.

My team was like I'm like no, no go buy 155 laptops, we're going totally remote. we're doing it tomorrow and I'm going to create a new program called Pivot because I have a feeling a lot of people are gonna have a lot of uncertainty for those two weeks. So let's deliver something of value for two weeks to move people through this and two and a half years later, it ended. We all went through it, right guys, and we all survived.

And then guess what? we got back to Growing again and the next year we got back to rowing again and then the market shifted again and now here we are in 2023 and around I don't know January of this year I turned to my wife and said I'm not sure if I want to work anymore. we bought enough real estate I don't know. simplify our lifestyle. let's get a puppy.

You know what I mean who's ever been there before? Be honest. I'm not in a place where I can retire in style, but you know I could lower my ambitions and I could lower my goals and I can lower my expectations and I could probably do okay and I thought to myself what the blank is the matter with you How dare you be such a a candy ass All my friends, you've heard when I've said to you before, stop being a candy ass and I'm looking in the mirror at myself saying you need to stop being a candy ass And then you know what Dan I open up my laptop and I look at my 2015 vision and my wife and I had achieved everything on the list except the boys weren't old enough. Everything that we decided I had achieved and I thought, no wonder, what's my purpose right now Why am I doing this? What am I fighting for? What is it all about at a certain point, my friends. Without this, it's just work.

Yes or no. Steve Cohen How many times do we have this conversation right? So some of you were with us a couple years ago when we asked Seth Godin to come to the stage and he ultimately ended up coming in virtually. and if you remember, there was an extraordinary moment that I'm not sure how many of you caught, but he said there was a wonderful research piece and it's now done multiple universities around the world and the research piece was simply this: We're going to take individuals. We're going to drop them Brian someplace in the middle of a forest and we will observe to make sure they don't die.

But Chris We want to study. What does one do when they are clearly in a potential life or death situation where they don't know where they're going and you know what happened? Ninety percent of the people walked in circles, ninety percent of the people did basically this and it made me think to myself when he was saying it. I've had a few years in my business I've had a few months in my business where I was just walking in circles I was repeating the same thing over and over and over and over and it looked like a lot of activity and it looked like I was moving but I wasn't going anywhere. Will you do me a favor? Turn to your buddy and say have you ever been there before, could you please give them an honest answer? How many of you can think of a time where you repeated the same year over and over again and you wake up and you're like wait a minute I've been here before, it's January 1st I'm hungover again I have no listings, no escrows, no pendings.

What the hell's going on here? Who has been there before? Say aye I'm keeping it very real with you I found myself in that same spot and then he said the best thing he said but Tom the difference was the 10 of the people had a point of reference. They looked up and they're like that's the tallest peak. that's the sunset. that's the sunrise I Can follow that.

There's a crevasse between the mountains. There's a pretty good chance there's a river there. If I follow the river I'm going to find my way to safety I'm going to find my way to the promised land and ready. When he said it I was like it's so clear to me most of the world is walking in circles in a very very very small percentage of us are have a clear reference point of where we're going, a clear path and you know what I mean.

If you've ever read the Bible you've said it. any anything? Anything religious? What do they all say? Those without a vision? What? I'm sorry, forget your religion. we all know this to be true. So the question then becomes for all of us, all of us.

Maybe maybe maybe maybe for a lot of my longtime friends. Jeff It's time to re-examine what my mentor Mike Vance said to me. that caused me to go start this business He said to me Brandi when I said God you've worked with Steve Jobs and Mother Teresa and Jack Welch and you invented the salad bar and you've done all these extraordinary things in your life. What is it that makes all these people so so extraordinary? Like there must be like clues of success And he said Tom It's actually very challenging, but each and every single one of them answered five questions and the first question is what is their purpose.

Why are you on this planet? Why are you really here? And I Remember him? You know over a glass of wine and a double espresso Sheila at 9 30 in the morning because that's how he rolled Eric We were just having this just sort of cathartic discussion around. like where where do I want to go? What is this really all about? Like is this it now I Know all of you are going to die Yes or no yes. And when you die and you're on your deathbed, are you gonna be like let me tell you about this transaction I Did you know what I mean So we know in 1955 there was a flip in human psychology and prior to 1955, if you had multiple identities, not personalities but multiple identities, you were insane and they were going to lock you up because you you know you were one way with this group and another way with this group and different with your family and something around 1955. the consensus was actually the person that's always the same Exactly the same all the time.

They're batshit crazy. The rest of you, we should be a little different from your spouse than with a for sale by owner. Does that make sense? And that's when it started to shift and he said Tom you can have multiple identities but at your core, why are you on this planet And then he said to me what are your values and I'm like why does that matter and he said if you don't know what you value Scotty think about the influence you have on so many and think about how many people are coming at you every day saying Scott we want you to do this Scott we want you to do that Scott Try this. If you're not clear on what you value, you will say yes or no to the right and wrong things and Christoph you've heard me say this so many times I challenge you I found myself in January going back to this and it's completely relent the fire because now I know what's going to happen the next 10 years and I know what's going to happen for the next 20 years and this team I didn't think like a candy ass I thought really big you with me on this Number three he said what are your god-given talents What do you do Byron that is effortless but also provides value You with me because my son could say playing video games is effortless.

Does it provide any value? You with me, some of you are like I smoke weed and I'm good at it. Does it provide any value? Maybe to your dealer? Question Number four though, was the big one. It's 10 to 20 years from today. What's the impact that you made? It's 10 to 20 years from now Amy What is the impact that you made You have the blessing of saying you can drive through a community and say I built these houses and I named those streets.

That's an impact you with me on this but that question. So here's what's interesting. Uh Alex and I'm going to space on his last name a very famous now YouTuber Made an interesting comment. He recently said you're all going to die and when you do, all of your friends and family are going to show up and they're going to mourn you and then they're gonna eat some food and then they're getting their car and they're going to leave and go live their life and most of us will be forgotten within about 10 years.

Just is what it is, Doesn't mean your friends and family don't love you. It just happens every day because the world is busy and he said since that's the case, you might as well go for something really crazy because no one gives a kind of a sad but true statement isn't it? Eddie that we all have a tendency to suppress our Ambitions for fear of what others might think for fear of what others might say instead of just saying I'm going to go for crazy I'm gonna go for crazy. What does crazy look like for you? What does crazy look like for you And then he said, who do you have to be at that level Now we're going to spend some time on this. Maybe this afternoon, maybe tomorrow, maybe the last day.

But this question is the question. Take a photo of it because this is the one I want you to think about tonight. If you were to go for crazy in the next 10 years, what would crazy look like? What would like mind-boggling insane look like what would ultimate success look like? health and family and relationships in finance and impact in contribution. Now you've all heard this before and remember I'm only on point number one.

And point number one is I've lost the fire. How do I get it back And Deb this is temporary, but if we don't re-light the fire, what happens, We become complacent. We lose sight of the purpose we lose sight of like Eric why we're really doing this So you know this. but I'm going to jam because I'm way late.

by the way, you want a little Pro Tip: you guys want a pro tip? Okay, do that. prompt in chat GPT do it tonight because you know what I did Nick I took I started to write all of my vision that I'm like wait a minute I have this super power tool I'm just going to ask it to ask me a bunch of questions, I'll answer the questions and then I'll have it synthesize my entire 20-year vision and it did it in seconds. That's a pro tip my friends. So what if just for the next couple days your entire concentration was either to find the purpose or if you already know what it is to listen through the filter of the purpose so everything is about? Does this align with what I'm trying to achieve on a bigger level? the Market's going to be the market for the next three to five years.

Those of us with Clarity those of us that know who we are, what we stand for, and what we're going after. we're going to cremate the market and serve so many people and others will perish and you have to decide. So here's question number or the the second thing. number Number One AKA Number two I got this ten thousand times.

What should I Do Tell me what to do, Coach: What do I need to do and I remind everybody of the same thing. When you have too many things you're concentrating on, you don't do any of them well. How many of you know what I'm talking about say I and when you are like, well, I'm trying to do this and I'm doing a little this and I'm doing a little of this and I'm doing a little of this. What happens is you give a little bit of effort here and a little bit of effort here and a little bit of effort here.

and then an environment like this where the transaction count is down. What do you end up with? Jenny A little bit and a little bit and a little bit that don't add up to enough. And therein lies the struggle. So I always go back to this.

So if you've never seen this before, just think about it like this: Where am I Today on the life cycle of my business? Am I Five years or less in real estate? Raise your hands. If you're five years or less, Raise your hands really high. You're in startup mode. You're a startup.

Startups have to be Scrappy Startups have to work 24 hours a day, seven days a week or you die. It's that simple. Some of you though, you're in growth mode. You're adding.

You're adding. You're adding people and new lead sources. and New Opportunities some of you are a cash cow right now. I'm talking to some friends right now that because of their their ancillary businesses or their primary team, they're making a fortune right now because they're gobbling up market share and they're adding more people to their team and they're able to really expand.

But there's a lot of fading winners right now in this business. So let's play a game. Grab your phone really fast and on the home screen. just show it to your neighbor.

like the home screen where all your apps are. just show your buddy what's on there and I want you to very quickly even if you're watching with me online. Just identify where chat. GPT The app is on their home page.

Where's chat Gbt on their home page. Where is chat GPT on the home page of your phone. Ideally within thumbs reach. So heads up.

If it's not there, you're a fading winner. Your best days are behind you. Gary Keller Said something that I thought was fascinating. You're losing so slowly you think you're winning.

That's a fading winner. Shout out to Gary Keller that was a killer line and some of you, it's time to blow the whole thing up again. and that means you're in restructure. But all of it, my friends.

look at the slide. everything points back to Teresa What we know: pedal to the metal on growth pedal to the metal on growth. You might want to take a photo of this. You know what? I wish for all of you Joy Grace Peace, happiness, Health and you know what? I see as I Talk to people I See no growth No Joy No Love And there's only three systemic reasons why they're in complaint.

They're criticizing everything and they're constantly comparing this year versus 2021. this year versus the past, show me a loving, healthy relationship that's riddled with complaint. Show me a lovely business that is nothing but criticizing the people around you. Show me something that is prosperous, where all you're doing is comparing it to everything else versus having the grace to honor who you are and what you do to accept You're happy with where you're at and we want more.

Not I hate this stupid business and such and such is doing more than me and two years ago I was Do me a favor, poke your neighbor and say he's talking to you Right now That was good I think he said he's just he's talking to me. You just blew off your neighbor entirely I Appreciate that. So it begs the question. It begs the question.

Eric What do we need to shift our Focus towards? So, let's do a homework assignment together. Ready. Let's do something together in your notes I Want you to write this down. What are three things or two things? Do it very quickly.

You know that you Do in this business that you love like just two or three things really fast. I Do this. Jenny I Love it. It's easy.

It's effortless. It makes my heart sing I Have so much fun when I'm doing it. What are those two things for you in your business that you love doing that? You love doing okay. You got it.

Let's go to the next one. Write down two to three things. You hate doing. What are two to three things in this business that every time you do it, you just ah, paperwork.

What do you hate doing? The scary part is I think someone just said follow up and I want to punch you. What are the two different things you hate doing? What sucks your energy? What has you saying? Why am I doing this? And then what are two or three things you do that make you money? What actually makes the cash register go ching? What do you do that makes you money? What do you do that with just two or three things? What makes you money? Like hey, making phone calls, going on appointments, helping clients, negotiating deals, right? What makes you money? But then here's the big one. What doesn't make me money? What actually maybe costs me money? Think about it. There's so many smart people inside this room.

You know the answers. you know and yet and yet what do we know? Highly focused people. They prioritize Highly focused people. Don't have many things going on Lisa you and I in our conversations.

What are you doing right now recruiting anything else? Nope. recruiting because once I get north of 100 agents Man, this thing really takes off and it did and I'm like okay, but we got some other things and you're I love her. She's like nope recruiting and all of a sudden the business starts to grow like crazy because one of the most dynamic people inside the room stops Lisa doing 50 things and says I'm going to do this exceptionally well and all of a sudden the business starts to Blossom And yet many of you have your hands in 50 things and you wonder why? Choose your hard. There's 97 billion dollars out there.

Go get the money. Do you guys get that? Go get the money. So the question is, what are the adjustments Were you Just write in your notes? What's one adjustment? You know you need to make just one. What's one adjustment you know you need to make to go get the money.

Just one. Just one, Just one. What's one adjustment? Do me a favor, look and see what your neighbor wrote and if it's good, steal it because it's probably applicable. All right, kill the music.

I Got a jam I'm so late already. All right, So raise your hands. If your neighbor had chat Gpt's app on the home screen of their phone, raise your hands. really high.

Oh man. Okay, so that's about 10 or 15 percent. All right, you guys ready? You want to talk about the future of Real Estate Do you want to talk about where things are going? How many of you know the name? Astro Teller Write it down. Uh, his dad helped Oppenheimer build a bomb.

His dad is a very smart guy who else names their child Astro Astro Teller Predicted about 15 years ago that we would hit a moment in time with machine learning and AI where the AI essentially would be smarter than us and be able to take over. He refers to it as the singularity. He says it's going to happen in 2035. Elon Musk has already come out and said I can see mathematically why he would say that between now and then before we become I don't know, fat and lazy and doing nothing.

Who's going to make all the money between now and that moment? This is not rhetorical. I'm referring to the person sitting in your chair who's going to use some of this the just extraordinary technology that's now available at our fingertips to go further farther faster, be more efficient, serve more clients. So in 2035 I guess when the robots take over and the rest of us just go to the beach and hang out, that it's okay because you got all the money. you don't want to be in the position where you're not in that Center So here's what I'm telling people, we're exiting the age of asking how we're exiting the age of asking how and we are entering the era of asking what do I want and who do I need to ask? what do I want and who's the expert that I need to ask all of my coaching clients in the room raise your hands really high What if I told you I took a small amount of everything I know and the coaches know and put it into an app plus all of our content, all of our materials and we're adding all of your country or your State's legal regarding real estate and then all of my mentors and all of my heroes.

from the negotiation standpoint, a sales and marketing standpoint and we put a new little app called Tom AI and you're going to be able to talk to me 24 hours a day, seven days a week and we will have real-time conversations. And as you're sitting there saying how do I do this, you don't have to wait for another 72 hours before you have a conversation with your coach. You can actually type in how would Jason Pantana do this How would coach Carey handle this? What's the answer And in real time you're going to get the answers and say unpack that for me Can you convert that to a script? Can you make that an Sop? Can you convert that into a schedule and in real time you will have all the answers you need So you and your coach can just talk about what's getting in the way of your execution and get after it. Does that make sense? Anybody interested in that? Yes.

Okay, you say yes now but you don't even have chat chat TPT on your phone but it is coming for you. We've been working on this little baby for about seven weeks, but it's been my dream since we launched a Loom in like 2017. So we're entering this era where now everything you want and here's the point. It's not all of it.

it's like 80 to 85 percent of everything you need in real time instantaneously. How many of you saw the movie? The Matrix Okay, so for the rest of you, you might not understand this, but in the movie The Matrix they're living in a simulation where they have access to AI Make sure the volume's up loud for this. This is our future. Can you fly that thing? Not yet? Operator tank I Need a pipe? A pilot program for a B212 helicopter? All right, let's go.

that my friends, is our future. Now that either scares the out of you or you now realize who has kids that are in high school or Elementary So at that Ai4 conference I spent some time with a guy named Sam Khan he started the Khan Academy Anybody familiar with the Khan Academy he is now connected to open AI with the Khan Academy and that is the future of Education Every one of our children will have an AI for themselves personally and the next 18 to 24 months every single one of you will have your own AI your own personal AI that knows everything about you and all of your confirmation biases. And when you turn on your favorite news show, if you tell the AI please remind me of my confirmation biases. It will tell you the alternative to what that no-show is saying.

So at least you have some perspective versus most in this country that only have one point of view. Did I say that out loud? You with me on this. But here's the thing you ready. You just got to master all those.

So could you take a photo that because that's your homework tonight I Want you to download every single one of them. I'm kidding. I'm kidding instead I want you to acknowledge that you've been here before. Who remembers when there was a whole bunch of search sites to go to Who was on? Ask Jeeves Come on people, you're like this is awesome and then they dropped the ask and it was just Jeeves and I was like I don't know.

Maybe I'll go back to AOL What is the only search site you go to Now tell me. Oh so there was a whole bunch and then there was one that you got really good at. And then remember when all the websites started popping up at like 94, 95, 96, 97, 98, 99 and suddenly there was millions of websites. And how many do you go to? 11.

Amazon Maybe just one? Amazon Prime So we've been here before when there was an overwhelming amount and then it got simplified to one and then you remember. Remember apps? Remember the app store? Oh my goodness. 48 different things I could download to help me track stuff that I don't do? Remember all those apps? Let me give you a little heads up. if you have an iPhone Once you get beyond the first screen, you should just delete all of that stuff because you never look at it and the real deal is all the action is within thumb's reach.

So how many apps do you actually use today? land? Glide Palm agent Maybe your MLS So guess what? AI is going to be the same exact thing. There's going to be thousands of things coming at you. but right now for us, there's only 10 things that AI actually does. And the good news is I'm going to give you my prediction and then Jason Pantana over the next few days starting with today is going to walk you through.

Here are the 10 most applicable ways for you to create more efficiency, better client experience, attract more customers, have a better brand, do more marketing so we can get all the confusion out of the way and narrow it down to four or five. For you guys that sound good, Would that be valuable? Yes or no. And here's why. Here's my prediction: Who lives in the U.S Raise your hands really high.

let me tell you what's going to happen in about oh I'd say 12 months you're going to get a phone call and you're going to look down at your phone and it's going to say Joe Biden and you're gonna go no way. Hey, just go. Hey hey hey man. I'm calling because I need your vote I need you to show up this year and you're like dude I Got to be honest I'm not feeling it this year I I don't know and he's like come on come on man, come on and you're gonna have a full-blown conversation with his AI who handles all of your objections and does everything in their power to get you to go vote and then you're gonna look down and it's the other guy and hopefully thank you sexual relations for that woman.

Okay, we knew he was lying and most of us were like we'll take four more years anyway I Don't give a like, just keep up the good work man. But you're gonna get a phone call and by the way, if you live in the U.S Guess what? The Do Not Call List doesn't exist for politicians. Every single one of you is going to get a phone call. And don't be shocked when like I don't know Kanye calls you and says I need your help You gotta vote.

It's gonna be weird the next 12 months people. it's going to be really really really weird for those of us that aren't ready for it. But let me tell you what's going to happen in the next 18 months. for all of us.

After the U.S election. And yes, it'll happen in Canada and every place else around the world, your personal AI will not only prospect for you and follow up, it's also going to schedule your appointments. It's going to draft your offers. It's going to assist you with negotiations, It's going to close your transactions, and it's going to send out your closing gifts.

That's what your personal AI is going to do in the next 18 months. Are you ready for that? Yeah. I got one person clapping. This could be the most exciting time on the planet to be all of us inside this room and watching live.

This is so exciting. But then it begs the question. what the heck am I going to do all day long? You know what you're going to do. The stuff that the AI can't replace.

You're going to go on appointments, You're going to build relationships, You're going to go to dinner parties, You're going to do open houses, You're going to engage people. But the difference is when someone walks in with a question, you're gonna go Hey I need to know how to fly a B12 helicopter? Okay, let me explain how that's what's going on right now. Are you guys ready for that? Yes or no. Okay, some of you are lying your butts off.

so let me show you how I know it to be true. Turn the volume up really loud. As I said earlier, our vision for our system is to help you get things done. It turns out a big part of getting things done is making a phone call.

You may want to get an oil change schedule, maybe call a plumber in the middle of the week, or even schedule a haircut appointment. We think AI can help with this problem. So let's go back to this example. Let's say you want to ask Google to make you a haircut appointment on Tuesday between 10 and noon.

What happens is the Google Assistant makes the calls seamlessly in the background for you. So what you're going to hear is the Google Assistant actually calling a real Salon to schedule an appointment for you. Let's listen. Hi! I'm calling to book a woman's haircut for a client I'm looking for something on May 3rd.

You're right. Give me one second or what time are you looking for around? at 12 pm? we do not have a 12 pm available. The closest we have to that is a 1 15. Do you have anything between 10 a.m and uh, 12 P.m depending on what service she would like, What service is she looking for? Just a woman's haircut for now? Okay, we have a 10 o'clock 10 a.m is fine.

Okay, what's her first name? The first name is Lisa Okay, perfect. So I will see Lisa at 10 o'clock on May 3rd. Okay, great thanks. Great have a great day.

Bye now in case you're wondering that was filled five years ago. That's five years old, Five years old. Let me repeat your AI is going to make phone calls for you. It's going to schedule meetings for you.

It's going to close transactions for you. This either get you really excited about the possibilities of maybe a three-person team doing a thousand transactions a year or some of you that are like I don't even know how to use my phone or I'm afraid of this And I'm going to say to you, no one cares. No one cares that you're afraid no one cares because the truth is, many will become less relevant. many will become less relevant.

possibly even a few people inside this room. Which breaks my heart. Those of us that are unwilling to lean in and take this experience just one part of it. Jeff And have the first mover Advantage have the first mover advantage to start saying every contract I Get an offer I'm going to upload it into chat GPT and say what is fair What do I need to adjust? how would you recommend I Counter this and see how fast you get some interesting insights.

That's the word we're going into. my friends: taking all of your reviews, every review you have, and uploading into chat GPT and saying what are all the similarities of what these people are saying synthesize it for me. Bam. Now how do I take all of those similarities in these things that people say about me and convert it into a marketing message? Write it into an email, turn it into my Facebook ads.

all of the language that they use of why they choose me and that is like one one millionth of what's possible. Are you ready for that case? So you ready. Remember this company, There's a theme Here Who won Do you remember this device? Who won? You got to ask yourself. First of all, if you're if you have a business that has BL in the very beginning, it's bad Blockbuster Blackberry The reality is all business is innovation and marketing.

Yes or no, my friends. And what is the first one with an I? what is that word again I I Kind of hooked you up if you said is I meant innovation It's all Innovation and marketing And my my challenge for all of us inside this room is are you willing to adjust and I already know the answer with you Are you willing to say I'm going to try this I'm going to lean in I'm going to check it out and if you're feeling slightly overwhelmed, it's okay because over today and tomorrow the next day Jason is going to walk you through every one of these and make simple recommendations on what advice, what application, what solution. So ideally remember 80 to 85 percent of the things you're doing get done in seconds. You guys down for that.

Okay, let's be clear, whoever moves fast and first everyone else is now. following does that make sense How long was it I don't know for me I Think it was around 2012 when people said to me so you're saying I should start shooting videos I Started in 2007 telling people shoot videos it was about 2012 that people were like, are you saying that I should shoot videos Do you remember when someone told you why would I go on the Facebook Do you guys remember that you're sitting in a conference right now having a massive opportunity to be ahead of everyone? I'm asking you to dive in is this on your phone and if it isn't what's your first assignment sometime today? it should be pretty obvious. So the strategy around AI it really is the question. My answer is AI Everywhere in every aspect of my business, everything that can be used by it will be used by it.

And when I started sending in January of this year, my designers, m