Surviving a Real Estate Team Implosion | Tom Ferry Podcast Experience
A real estate team is like a scientific chemistry experiment. You’re combining a bunch of different elements to try to create a beautiful result. But sometimes the chemicals might react in a way you didn’t expect and explode.
When this happens, your survival depends on the precautions you set in place, and that’s what we’re talking about on this episode of the Tom Ferry Podcast Experience. I have two awesome real estate team leaders Daniel Dixon and Meredith Fogle, who have been through quite a few implosions and explosions themselves – some of them intentional.
We’re talking about how to:
• Identify blind spots and prevent conflicts
• Maintain momentum when things go wrong
• Let go of people compassionately when you have to
• And a lot more!
00:00 - Intro
01:11 – Meet Meredith
01:47 – Meet Dan
02:10 – 6 Phases of Mastery and momentum killers
03:28 – The danger of blind spots
05:04 – The big takeaway
06:53 – Clarity for speed
08:22 – Getting really, really, real
09:50 – Multiple panic attacks
10:45 – Tormented by the emotional component
11:32 – When the right thing to do is the hard thing
12:36 – “Sometimes it’s my responsibility as a leader to teach a lesson.”
13:04 – The deadly mistake people make when markets shift
17:50 – Raising agent standards to meet today’s market
19:44 – The big question to answer now
22:30 – Making the quantum leap
25:55 – What is winning?
28:25 – Peter Diamandis and the massive transformative purpose
30:50 – How we’ll handle our next implosion
If you’re running a real estate team, this one is for you, especially if you haven’t experienced an implosion yet.
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For the majority of my life, I’ve been passionate and dedicated to changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!
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Build To build like I Want to be big to be big but not necessarily big to achieve a specific end result right? So so knowing what you know now, what would you do? what would you say to yourself back then and then we're going to get into the emotion of what do you deal with because someone right now is listening like these two have an easy they're sitting with Tom Ferry in Dallas I Just lost X number of people why number transactions and my best friend is sitting with my assistant and they're both leading right? Like I mean we've all seen all this stuff right? So so what's the big lesson coming out of this? I'm not sure if this show is for you, but would you like to know how to survive a real estate team implosion? Essential strategies for what to do when your team blows up. even when you blow it up yourself to help you get there. I've got Marin Fogle and I got Daniel Dixon Meredith You have a huge team in like Maryland DC Virginia You've got Denver kind of greater Metro which is just a monster Metropolitan For the people that have never met you before mayor, they've given just a little insight how long in the business what does the team look like and when was the last time it imploded? So 29 years in the business? Uh, the team right now is 22 agents. We have been at a high of 34 22 after an implosion filled back up again right? Uh, We've got four admin, two interns right now which is our fun summer project.

And um, yeah, so implosions have been multiple, but most recent was within the past like two months. Okay So we've got a recent implosion. Ladies and gentlemen: Daniel You've been known to implode things on purpose? Yeah, but for the people that don't know who you are, how long in the business, what's the size of the team look like? and when was your last real estate team implosion? Been in the business for nine years. Um, team right now is 28 agents.

Best implosion was December Actually No. January can't lose things up, change the pillars and figured out uh, what we're trying to go. So a mentor coach of mine once shared with me. She called up the six phases of Mastery and she said, you want to master anything in life specifically business She would say first is you got to commit, right? That's the first phase and just telling the world what you're committed to right? Telling the team this is the New Path right? Or this is the direction we're going.

The second one was execution. Everything in 90 day cycles. Don't talk to me until you've done it for 90 straight days because that's how long it takes to see any real results. And she said the third phase is momentum.

She said that's when all of a sudden everything starts to take off. She said, but there's a bunch of momentum killers and most of them blow your business up. So I'm bringing this up because I think I think there's a time when you're in momentum and the team goes sideways and there's a time when you as the CEO say okay I'm going for a new direction right? I'm gonna go for something different. So I'm just curious.
Talk to us about I'm gonna go Meredith first. So you had a bunch of people leave? Is it the first time that's happened? Yeah. Okay, so how many times has it happened? Why does it happen and what are the lessons you're learning and then you can jump in and we can also just talk about it to you next. So how many times does this happen? Uh, probably four times.

Okay, and why does it happen I think the reason it happens most of the time is and I'm going to say that three times before yes is what you mentioned the first time. So it's when we're kind of in momentum and the team goes sideways. right? There was a big blind spot I didn't see. Yeah, yeah, this last time was intentional because I chose to to write this.

but by choosing a new Direction Yes yeah. so go back to the one uh, the the two times ago. Yeah so so you know there was a blind spot? Like tell us about that. What was the blind spot I think the blind spot was I was in this, um this phase of just building building.

really like just to build Yes without a Clear Vision So my commitment was to the wrong thing and then it was just to almost like collect people. which sounds terrible. We're not collectors of people yeah. but I wanted to build this big team I had in my head if I got to a certain number of people, the rest was going to kind of take care of itself.

Yes and I separated myself a little bit too much I think from what my highest and best use is, um lost direction that way and then lost connection with the team that I spent all this time building. that's an there's so much to impact in that Daniel right? right? Like we we build to build like I want to be big, to be big but not necessarily big to achieve a specific end result right? So so knowing what you know now what would you do, what would you say to yourself back then and then we're going to give me the emotion of what do you deal with because someone right now is listening like these two have an easy they're sitting with Tom Ferry in Dallas I just lost X number of people y number transactions and my best friend is sitting with my assistant and they're both leading right? like I mean we've all seen all this stuff right? So so what's the big lesson coming out of this? Vision having a Clear Vision is the same lesson and that's why I've chosen this new this new Focus this new commitment Yes, I Think that is the big one is you have to leave the division first and then the rest of it follows. Okay, same question you mentioned December January Yeah, Why So and how did you go through it? We got to get into some of the how did you go through it Because bring me, bring me back to the time that you realized you needed to change and how long before you realized it and actually had the courage to change. So we want the PC answer or the real answer.

Dude, you know me. So in October of this past year uh we lost somewhere like 150 or 160 000 rates when uh, people were people didn't buy any more pre-approvals work whatever contract right and so we had. So we're taking that lump real life started projecting. got to get better at being the CEO being a business, a business owner and we were on a call with you and one of the things you said was um, who's in your Foxhole with you and we knew we were about to go through a bad 12 to 18 month period right? and we just kind of looked at our organization and said this is an opportunity we can feel sorry for ourselves or we could look at this opportunity and say we have a unique ability to redefine who we want to be in business with.
Where are we going exactly and then kind of touch every little aspect of our business. Now that things were slowing down, yeah, Sit and recreate this new Mega team that we're building so that was October Tell me about the sort of mental process of you. you had this, you know Tom Ferry plants a little seed right? you already knew I just probably validated you know truth in his head right? How long did it take before you finally said okay, this is remind me to do and what was the first 24 hours like after you did it So it's so cool. I get when I have a lot of when I don't have a clear Direction I slow down and get really confused and so it took a time it took some time to like.

get clear with what do we want to do. who do we need to separate with um and I what am I saying is Clarity equals speed? Yeah! so I can go fast once I'm clear and know what's going on. So it was took a few days to kind of get an idea of where we're going and I think one of the biggest takeaways from all this though is expense management. Yeah, because rather than selling our way out of this, we did it the other way and said no, we've got to cut and get healthy and get lean right? And then we crush and go sell a bunch of houses again.

Then we're just. you know, making a ton of money versus keeping the expenses that we had with the old market and it was a humbly moment. It's been painful. but yes, I'm becoming a better business owner coach.

Mentor all of those things because of all this pain, right? You know everybody does great when the market is just going through the roof. and I say that someone watching right now knows Meredith that there are actually people that when the market was just skyrocketing, we're losing money because this the sort of mentality of livestream Walmart deal right? I just need one more agent here I just need one more account I need one. It's it's like this silly notion that somehow if I just sell enough I'll make enough money. Did you go through some of that expense cut so that reorg because that's also painful.

That's in a way that's also enclosing because you're the phrase I love is you're prioritizing until it's painful, right? right? Yeah, What did you go through? Uh, same thing I mean it was. it was. It was painful and getting the clarity. taking a really hard look at the numbers and that was tough I Remember you saying Gosh, it was a podcast you did before, maybe during the pandemic.
Yeah and I think you said something like I want you guys to have like four million dollars saved? Yes and I mean that seemed like the craziest notion to me because and I was like what you know, we're in the midst of this gangbusters Market we don't need a four million dollar table I wish I had listened to you because you saw what was coming I think I kind of knew it was coming but I really didn't want to look it in the face and then when it was here then we had to get really really real and when we made our Cuts we realized at one point we were going to be operating at a loss. We did not make some quick changes. yes and at that point yeah, we had to scale back on a lot of things that we thought were a good idea or we thought were kind of fun and that just weren't weren't creating profit right? It's speak to that, it's it's hard. You're like you're like wait a minute I'm working my face off and then you start to I maybe maybe you guys haven't done this, but I certainly know some people, including the person sitting in my chair at the house.

You you start to look out at everybody else and you're like I'm working my face right like what the hell is going on here and I'm not making any money and everybody else is getting a paycheck and in a moment cynicism and doubt and all that stuff creeps into our brains as Founders it is an ugly place to be. Did that happen to you at all? No. but I had a multiple panic attacks over the last like 60 days right just looking at. Wait a minute I'm I'm leveraging properties and I'm having to get my cash flow Management in place so everybody else can be right I need you guys are somewhere down houses right? But I think again, it's just a matter of being able to run a Better Business yeah and expense management expense load? um, number of people that are on the team, productivity per agent, right? All those things gotta dial in and focus a little bit better, right? Cutting the fat is is not just you know, like expense management, but it's also like the reality of who's gonna be in the Foxhole with me.

Yeah, who? Who's really? Because there was a lot of people that got in the business I Mean you're 29, you're better, and you're nine year better. but you're a truly a Zillow before, right? So you've been around the industry for a long time. There was a lot of people that just made a lot of money and they're gone. They're just.

they're just unwilling to make that change. So let's go a different direction. I Want to go back to the Emotion I noticed for me I know what to do I know the decision is right but man leading up to it for like 24 hours I Uh, just being honest sometimes I can't sleep. It's personal when you're like when you're like shutting down a division or you're you're cutting people that you care like I don't I I see that person I see their kids I see their spouse like it like I can get emotions I'm just thinking about it and it torments me until I rip the Band-Aid off and for about 12 to 15 hours afterwards I'm upset.
but I'm done. Yeah, why does it take us so long to make these decisions? to coach, meet people when we know I Think we feel responsible. We're leaders, right? and so we are actually responsible for we always look at ourselves first I think that's what makes it so difficult and we also feel like we can kind of magically solve a lot of things. and we can.

We're really good at it, but there are things where the right thing to do or the compassionate thing to do is the hard thing and it does hurt for a second. Yes, there's a loving group of people that I meet with on Saturday mornings. Um, who are all time Ferry coaching clients and we allow ourselves what we call 36 hours of pain and that's like 36 hours. Yeah, yeah, and then you've got to get that because yeah, you know you can.

You can feel bad, you can cry, you can scream, You do everything you need to do for 36 hours, then you gotta get back into the trenches and you know, put your big fats on yeah and start working again. Yeah, so I'm not sure I have that amount of empathy? Um I do I Love my people. but the expense management for us was it was more. It was more cutting, lead flow, and and yeah, holding it accountable.

More than this, we've never really had a really big salary stuff. Yeah, um. but when you think about people that sometimes it's my responsibility as a leader to teach a lesson. Yeah, and so I think about one of the one of our top agents that we let go that wasn't a culture fit, wasn't in the right mindset, wasn't in alignment.

Maybe this will. Maybe he'll look back and thank me at some point for having to go figure it out on his own. Um, rather than just dealing with someone that I don't want to really be in business with anymore? Yeah, so so there's this great study by Banning company you know? Jason And it says, you know when the market makes a shift, what most people do is, they immediately cut marketing and then what the study shows and again, the study is pre-pandemic right? So so it'd be nice to get some new data right, because we're certainly in a different cycle of the market right now. That says, when you cut marketing hard, you almost never recover Now I would argue I don't think you cut that hard I think you probably finessed.

Yeah, you were. Yeah, so it's like forgive us context if I asked you a year ago ish how many leads were you generating per month versus say today we're 14 1500 today. but we're holding our vendors that we're paying for leads for accountable and that was the one of the biggest things there. You guys were paying x amount of dollars per month and not getting the deliberate lead flow and so we started putting pressure on our partners to fix some of that.
and I think what came out of all of this was the need for an Isa Department and we told our agents you need to produce you. it was. This was like early September We began watching you my other coach Brett talking about what's coming down the pipe right? And it's like all right guys new standards. We need to make this many phone calls and we had a true meeting right? We have people challenging, mad angry and I'm like guys.

He's taught like this is coming from the goat. That's like hey, we need to work harder, right? And you're someone willing to do it. So are you gonna last? Are you going to be? You know we we again reimagined what we want our agents to do, what we want them to be committed to we want to be in business with. Yeah, how hard you're going to work, What what this thing needs to look like and then agents suck at consistency.

But my Isas can be consistent every single day. and so that's what's born out of all of this. It's higher conversion, more consistency than our ability to scale and expand. So one of the presidents of one of our companies Josh browse, shout out to Josh Campus and big tall guy former quarterback for Boise State we're We're chatting one day apparently about about a problem that had been in the organization you know I Heard a story once by a farmer could you help me and he said well what's the problem he says well just you know, come to my property.

He says all my cattle gets a sort of this part of this mountain and for whatever reason the grass is really great there and he said but every now and then you know one or two the cattles fall off and they die and he goes. It's just terribly upsetting for my wife. and I so I gotta call the ambulance out, we gotta pick up the you know, the cows and I'm looking for like maybe a way to like simplify that to get the you know to get the dead animal out of there faster to and the consultant says I got a better idea? How about we build a fence and we stop letting the cows fall off it So so the Isas for the fence yes you know what I mean Like Okay, agents aren't on my team, aren't going to be as consistent as we would like them to be. They are all consistent in their minds at the level that they understand consistency.

You two just understand it and the person listening. just you have a higher standard, right? So you built a fence? Yeah, Have you ever had a mutiny with your sales team and you say hey, I need you to start doing this? Oh yes. same thing calls. Yeah, yeah.

So what'd you do? What happened? Well, we built accountability and we also hired Isa So very similar kids building with guns again. Imagine if you could sit down over the course of three days with 82 different agents and team leaders who combined sold more than 6 000 homes in the last 12 months where they broke down in detail how they generate a steady flow of listings in this market. Everything from the marketing they use the checklist to get it done and organize and be consistent, the scripts and dialogues, the follow-up strategies, the tools and more to implement them. That is my promise of this year's success.
Summit In this environment, you can no longer be asking yourself how instead you've got to find plays that work and simply run them race to Tomferry.com Book your reservation, make sure that you absolutely position yourself Above and Beyond in your Marketplace truly becoming the market of one. So So what's the what's the root? Cause what's the root? Like what's And again, you might be an agent watching this right now and you're saying wait a minute, you're referring to me as a cow that falls right. It's a metaphor. it's a story I think you got the point.

but there is. There is an attraction to this business. Uh, we watch money to our listing and we say oh my God fancy houses, big checks and they show the dollar amount like on the show a hundred thousand dollar commission I want to do that too. but you know knowing as many of those agents as I do they all work there faces off I mean like the show may make them look glamorous.

but if I if I text Ryan at you know midnight he's gonna respond. You know what I mean if I did like Matt all I got so many of them they they grind hard. How do we help our agents understand that the volume of work that's required in this market is just simply the volume of work that's required in this market. And if you don't want to play in this level then I'm going to lower the standard.

Probably lower your split or you should exit or is that or am I just being insane even saying that? No, I don't think you're being insane. And one of the things that we did is because we've got I Also have a podcast and I have a fair amount of organic new agent Yeah from that podcast and so what we did is we built a stiffle jumps for the potato idea, a system called exactly what to Do Yes for a new agents and it is literally every single thing. It's not a new agent, so that's it's. sort of like fencing that agent and seeing quickly.

There's a litmus test that is put in front of them right away that we can see whether they have a level of commitment so we're having the conversation. But what I learned quickly too is this was part of the my early lessons is that you know they'll talk a really good game and these are sales people. These are high eyes mostly so they can really convince you. Yeah, they're persuasive in their communication, but when push came to shove, they weren't performing a good amount of the time.

So this helps us to see very quickly whether they're going to get into the kind of productive action we need them to and whether that really the committed to this as a career. So you're I assuming this is like an LMS right? A learning management software where they can go in real time. you can observe. there's some tests right? but really what you're doing is you're filtering.
This is no different from like getting a Zillow lead that you think was vetted properly. They booked the appointment on my house. Yeah, right. So this is a way for you to vet them right? Is it working? It is.

Yeah. So far so good. Okay, same question. How do we? How do we write the ship? How do we get people that say Daniel I want to make more money I want to have my best life? Uh, you know, But the notion that they can make calls two days a week or two days a month and then have the audacity to complain is silly to me.

But as Leaders we have to have compassion for them. how do you get them to write the ship? So I think one of the biggest questions is, what are you willing to sacrifice to get there right? No one ever sees the sacrifice that we went through on our journey to get to where we're at today. Yeah. and I think that we're just dealing with natural electrician right now given the market.

Yeah, a lot of the top producers that I know across the adventure truly was waiting for the shift. Yeah, they're waiting to get all of the onesie Tuesday agents out of business that I ain't admitted right and then and we're feeling it Now we're going through it. But this is I mean we're everything we're building today is for 2024. So rather than saying we're not going to hire right now, um, we've actually put more emphasis on hiring and bringing more people in because those people never got to see the tough Market or no.

Got to see the Easy Mart right? right? You think about people got license in 19 or 20. Like are you willing to go back to square one and Brian and call it spiers and Lead generate and do the things Or did you get a license because you thought it was going to be that easy way to 100K Yeah, What's that The old line? It's been used so many times. So you know about weak people, right? Yeah, at times create strong people. Strong people create.

You know we. It's just about a cycle. So it is. It's It's interesting to think about the people that we bring in the business today, right? and their experience versus hey, it's 2020 and the most challenging thing and we know it was hard to put it.

put a mask on, sign some different paperwork, you know, clean yourself. can't you know what I mean like I don't want to make light of how insane that was. but I take that over seven seven percent interest rates and you know, payments, ballooning and just that. that real struggle right? So I mean it's all hard, right? So let's go to different direction.

Being broke sucks So I'm gonna go back to what my coach Teresa said to me. She said six phase of Master You're number one. You got to make a commitment. You've reminisce your vision right and you got to tell the world about your vision.
The second thing is, you got to go out and execute in 90 day cycles. Nothing great is ever accomplished. Even in one 90-day cycle, it's usually two, three, or four. You guys know I know after like you're like, well give me 18 months of doing something and I'm gonna kill it.

That third one is momentum. And there's we've kind of discussed and impact some of the things that create momentum blockers, or what would get us out of momentum. But the third thing she talked about is stabilization. So so once you create momentum and you move to a new level of performance, you move from having 10 agents to 28 agents.

You have to re-stabilize everything and sort of reorchestrate like how we operate. Going from you know, eight transactions a month to 28 transactions a month the system starts to break stabilization. She says once you stabilize, you got to go back to number one again and say to yourself, okay, now we're stable. What are we committed to is this Division And then you start another 90-day cycle.

Yeah. and then you get into momentum again and then you restabilize again. And she said it's about the second or third time you go one, two three four one two three four with some blow-ups inside of number three that you finally have what she calls stage five which is the Quantum Leap And that's when you see like I was texting with DJ this morning when DJ and Lindsay went from like 850 transactions to 3 100 transactions in a year. That was a good example of phase one through four for six great years and then all of a sudden bang.

But then inside of that when you have that big breakthrough, what do you have to do again? back to Phase Four, re-stabilize because a Quantum Leap when you go to that next level of performance. if you don't restabilize we, we always fall back to our systems, our structure, and our standards. Yeah, so you have a big month and then you go back to your system Sergeant Standard. So the stabilization is that.

So we we sort of discuss this. sort of just with the way our minds work. Where do you guys find yourself right now in your business? Because in January you blew it up? Yeah, you're You're kind of. You know, post post blow up.

So are you in? Are you in the middle of a 90-day cycle? Are you in momentum? Where do you guys find yourselves? Yeah. I I We pivot. We look at and manage our business so tightly that we constantly pivot. And so these pivots I Truly believe in my heart that I'm if I'm either gonna win or I'm gonna learn I don't believe them anything.

Yeah, and so it's It's just constantly pivoting and doing the next thing. It's a split, testing different things. What's working here? What's not working there? Yeah, um I don't know I enjoy the Peaks and I enjoy The Valleys As silly as it sounds, yeah, because it without like the journey is the excitement and the love for what we do. It's not just winning constantly so that sounds like squarely in a never-ending 90-day cycle.
Yeah, we we don't. We'll do yearly goals, but everything that we look at is 90 days. Yeah, quarter by quarter in my corner. Yeah, same we do that also.

So we run the business through. You find something a little bit different which is based on and I'm testing it. Dan Sullivan's most recent book which is 10x is easier than 2x. Yeah, great book, Yeah, but I'm trying to see everything through that filter of the 10x like where I want to be and it's helped me create an org chart that I think is going to be.

It can evolve certainly, but at least it's going to keep us stable as we grow toward it. I Feel like the big lesson I learned is I was always like a step behind in what I needed in terms of like you know, an admin person or a system or an Isa or whatever it was to keep the momentum going. So now I'm trying to look at it more like a long-term Vision down rather than staying like just behind the curve that we've been running. You know I want to piggyback on that? uh, a couple days ago because I have two presidents Mary Jetta runs the coaching business and the Joshua runs kind of everything and we're in this dialogue and the question that was brought up of like okay, let's identify all the reasons why we can't tennis and it was just a really interesting discussion.

If you just start listing out all the reasons why you can't and all you're really doing is just going okay, well we can solve that and we can solve that and we could solve that because we we I have struggled at times right with like how do I 10x the business and when I ask myself how like I get lost and eight million potential campaigns but for some reason and maybe it's just where I'm at today in my life asking myself all the reasons why I couldn't and then being honest about capacity, marketing, acquisition, costs, you know, pretend just all the you know all the numbers and metrics of business. It was just an interesting exercise I have to read that Dan Sullivan book I Like well let me ask you a question, how do you when is enough enough? So I struggled with that sometimes with thinking about 10xing and going to that next level. Yeah and then you're in the chaos. It's like do I really need that big of a life Yeah And then you get motivated again and you go again.

So how do you? How do you balance that 10x Focus Drive surround yourself with the right people versus just winning. He's winning enough. Well, what's winning for you right? I Think that's it? Yeah, yeah, thank you Coach. Jump in I Think it's you got to look at so Dan talks about Four Freedoms Right Freedom of time, Freedom of money, Freedom of relationship? Um, freedom of what's the other one that I just agree with Time, money, and relationship.
Oh I Lost. Oh, purpose. That's the big one, right? Afraid of a purpose? So if you drive first with what's the purpose like, what's your purpose is your purpose to sell your company one day. is your purpose To you know, be able to work from anywhere in the world as soon as the company runs is your purpose to do something entirely different? So if you look at it through that like filter first and then figure out how to work in those other freedoms, then you'll get there.

Yeah. I think I Want a massive business I want a billion dollar business and then you're building the thing and then it's going. Oh wait a minute I Want time with my kids I Want to be able to travel and do the things So I think it's just. it's a it's a different feeling depending on where you're at the journey.

Yeah yes, how old is your youngest? He's five? Yeah yeah. and I spent a lot of time with them I'm home every night before six and like we like I spent a ton of time with my kids. but you know you just get you get that ambition and you're like, all right, let's go build this massive and then you start hearing that's it. That's why I wanted you because you have a really big life, really big business.

It's all relevant, right? So I mean I've also been doing this for three decades, right? So you know people say being like I'm gonna do anything for three decades. Um, so I'm obsessed with a long time Mentor who's become a friend? A guy named Peter Diamandis do you know that name Dr Peter Demonis created the X prize. Sort of a lot of great books. bold abundance, um, the most recent line.

Now it's exponential organization which is the one I'm totally obsessed with. He also was one of the first people to really get me to explore AI back in like 2017. um, just it's just a huge snake for a big shots. Peter he's actually going to be at the uh, the team event coming up in Chicago Yeah first, uh, second time.

I've asked him to speak to our team leaders but I think it's even more important today. Here's my point if you: Google right now Dr Peter Diamandis looks like diamond is and they just put in MTP So to Dan's Point Peter says all Extraordinary things happen with a massive transformational purpose and the hardest thing for people to figure out what is your massive transformational purpose and the moment you do you say things like we're gonna put a man on the moon in order to bring it back alive in the next 10 years or he talks a lot about what it's about. A billion dollar business. Call it 60 years ago with a hundred thousand people.

right then it got cut to 10 000 people and then Instagram did it with 13 people and the future of business is the next multi-billion Dollar Business is gonna be three people, right? Three people with the power of AI and thanks for YouTube Right Dude, Yeah, it's I mean I'm like Peter I love you I mean Tom but you need to understand I'm just like I can't take notes back because that's what's going on. But to your body about purpose purpose at the summit I'm not going to give you guys all the questions here. you gotta come to the summit and the experiences. but I outlined basically eight questions to get you to that point.
And one of the questions is not how much is enough, but you know how much do you need right? How much cash flow do you need coming in every single month So you only work because you want to, right? Like That's really the question Because we're all in real estate, we all have access to Deals We all see opportunities every single day and it trusts me. Insane. What? I hear it's like oh my God it's like super Jason let's see and I put it on the endless sold like 38 offers. you know, do it 28 over asking I'm like did you ask the seller how much cash they needed just to get out of the deal? Like does that question ever come up? You're like I know you do this right.

They'll talk about it all the time. like uh, one of my sub massive transformational purposes for all my clients have enough cash flow that covers them all their expenses so they only work because they want to and then I think it kind of opens up from there. Yeah thoughts No I I mean cash flow management right now? Is the big thing houses so much for me anymore? Yeah. but I mean just straight up cash flow? Oh totally all my all my expenses covered all my life covered I work because I want to and it just it shifts the it doesn't take the passion away it does.

It actually adds to it because then you start saying well who am I really doing this for right? what can I do for my church? Can I do it for you know like my kids who said let's build a church in Ghana and like you start to see see it differently but anyway we're talking about implosions. Let's finish with final thoughts on implosions. The next time it happens to you, what are two things you're gonna do to everybody? Meredith you go first next time. Okay, I'm gonna I'm gonna stay in line you ready? Okay I'm going to be honest and vocal with the key stakeholders of my business which includes my wife and business partner and say this is what I have to do.

It scares the you know what out of me and I'm gonna get it done by this date and my wife is so tough as Nails she's gonna say why are you waiting that loud why would you torture yourself for that much time I love you Kathy Ferry and then I'll probably end up doing it faster So that's my number one. but number two for me is I need to go back and I need to rewrite my purpose and my vision. So I'm crystal clear on why I'm doing this and I need to communicate to the organization across the board that the reason why I made this decision is what we were doing was no longer alignment with our vision or that person's purpose was no longer interlib with our vision right? God I wish I could do that every time fast I Thought something in this book that said, if you're if you're mission and vision you're not being mocked by it by your company, then it's not clear enough for everybody for sure. Yeah, meaning meaning they can inherit it, right? Yeah, right.
and they start living and breathing and feeling it. Yeah, yeah. I mean I think I'm probably gonna just piggyback off of what you said I think acting more quickly that's the most important one and listening to my guts to be good because after all this time like that's pretty strong I just had to start giving it more creams. Yeah I uh I did a post recently I think it was inside the Legacy thing right? Um, data employee feedback gut prioritize how you make decisions and almost everyone who came back with like data people around me gut and a couple of people said data gun and then the other real cereal says interesting, interesting, interesting age Okay, this has been a very fun discussion.

Here's to: Future Blow-ups done massively with massive disasters and lots of lessons? Yeah, because it's going to happen. Businesses master. Okay, so people want to reach out to you. Where do they find you guys? I'm on Instagram Dixon Dixon Sold it and all the other social platforms? Yes yes, Double D and any any social platform YouTube Tick Tock uh, married a football team or the list real team.

Love it. Thank you guys for having a very honest conversation I know uh uh. every person listening to this is gonna be like okay. All right yeah, we're all gonna go through it.

It's messy, we just gotta do it. So appreciate you posting thank you very much! Yeah, thank you so much for watching! See you at The Summit Thank you.

By Stock Chat

where the coffee is hot and so is the chat

6 thoughts on “Surviving a real estate team implosion”
  1. Avataaar/Circle Created with python_avatars Alicia Soekawa says:

    I love the honesty and vulnerability of this podcast!

  2. Avataaar/Circle Created with python_avatars Jerry Ciesielski says:

    I am usually a big fan, but the last few episodes have been difficult to understand, due to the poor sound quality – especially when people are talking over one another. I even tried listening to the episode on my podcast feed with the playback rate at .8

  3. Avataaar/Circle Created with python_avatars Vulcan7 says:

    Love detailing the 6 steps to mastery. It's so important for agents to have a goal in mind and know some of the steps that are before them.

  4. Avataaar/Circle Created with python_avatars Mickeyctx says:

    For goddess sake please fix your audio it’s sooooo bad

  5. Avataaar/Circle Created with python_avatars Lynn Gelski says:

    When there is a implosion on a team. One should consider being independent and go in the clouds. Depend on your own expertise, and go with Real Real Estate 15/85 split on commission.

  6. Avataaar/Circle Created with python_avatars Sharma Ferrugia says:

    Love waking up to a new episode… headed out for a walk to listen! ❤

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