The two questions. I got during the little quick. Q. A were about teams so so many of my clients inside the room.

You've made some of these decisions you're running this high powered team i want you to listen for my members inside the room through the filter of what's next for my team what's the next move and if you're sitting inside the stream. You're like i'm not sure i don't know understand like this macro problem of basically teams are controlling everything go into your mls. And what do you see the top one percent team team team group group group team team team group group group and many of you might be saying. I'm not sure if i can well here's a little heads up timmy.

Everybody can everybody can start a team and the beautiful thing is there's about 19 different ways you can do it you have to be the architect understanding. What you want what you're good at how you want it to be not how she does it or she does it or he does it. But how you want it so let's start with this you all remember the three little pigs yes anybody so what do we know there's three kinds of agents in this room. There's people that built their business.

Out of hay and when the market adjusts. They're done. There's people that have put some systems in place and maybe they use their crm and they've got some marketing. But they're still a little mushy mushy.

But at least they're built out of sticks. And then there's people that i know that have absolutely built an undisruptible business that can withstand market conditions changes and challenges and those people they built it out of bricks. So tell your buddy metaphorically. Which one is your current state of your business.

Is it a little like things change. And it's gone or is. It a little more stable or is it really stable. Tell your buddy right now go.

Jamie. You are crazy stable. It doesn't always feel it though huh me too i still like oh and then i'm like now we're killing it it's usually the panic in my own head that never happens right all right so check it out guys shh for all my elite clients and core clients in the room. I really want you to pay attention what do we know we know that teams are controlling the markets.

We've talked about it for a long time now we know that teams are selling. I'm helping one of my clients. I mentioned it yesterday a team not a brokerage. A team he already has an offer for a very large amount of money but we want to get to 10 million bucks.

He's an agent look up here guys. An agent selling his team and we'll get to eight and a half nine million hopefully. Ten that's what's happening right now in the marketplace. Because the big companies the tech companies.

The brokerage companies are realizing teams are controlling all the market share. That's where the action is and instead of saying hey join my business. They're writing a check and they're buying companies. It's unfreaking believable.

What's going on right now. We've been talking about since 2015. 80. Plus teams have already sold since we made that declaration and that's just through steve murray not including anybody else so the power of leverage in the decision is the most important thing for all of us pretty much between now and the rest of the conference.

Even though tomorrow. Branding. Seth godin. Today branding tomorrow.

How do i get more listings. All that stuff is going to show up online and offline you're going to get it all. But look up here guys be honest raise your hands. Who has ever gone to a conference.

Before wrote down a bunch of ideas and done nothing afterwards do you want to know why because you didn't go like this hey. Martha hey. Jose okay you're my assistant let's get this going instead it's like um can you come here. Can you come here.

Can you come. Here. Just. The three ladies run over here real fast go up the stairs run.

Oh. Those heels are gonna be fun come on come on ladies run on delay on delay come on come come cut. But your on delay sucks. Oh.

Man. Those heels are going to be interesting. Okay. Right.

Here ladies stand right over here by the way careful with those heels. But damn girl okay line up line up line up all right you ready start going like this no no no no no no. But i love what you're doing. She's like why thank you just with your fingers okay.

So you ready let me let me show you something okay. This is my morning routine and when i do it everything in my business and life is better. This is the meeting with my assistant to make sure that everything is going to happen the way. It's supposed to this is my marketing plan to make sure marketing is happening and the second that thing stops.

I'm out of business keep going this is managing my funnel because a lot of the people want to do something later in the future. So i've got to have research phase stuff that manages and helps and make sure and nurtures and all this this is just me making my calls to my database and my past clients in sphere. Which by the way you can't do that when you're doing these. And then guess what happens so keep going then this is going on appointments now.

This is where it gets interesting take that right foot and start managing the transactions. Oh oh man that's going to be crappy customer service. Okay now you're ready just in the left foot. I'm kidding come on keep what manage the transactions.

Okay over here. I want you to do market research and make sure that we are staying socially relevant and current in the market. So go keep that foot going okay over here. This is date night sex marriage life fun.

Okay now keep going ladies keep going. It's january 1st. It's january 2nd. It's january 3rd.

It's january 4th. Okay stop how long do you think you can keep that up now what if all of those are just you what happens is it hard okay so what stops the second you get your right leg moving into a transaction. What stops your morning routine meeting with an assistant making sure my market is going managing my funnel making my calls and staying socially connected to my clients going on appointments. Your family down here no more sex.

No more fun right no more. What was that look like she goes. Oh yeah sex. I was like all right yeah.

I got you are you married or single okay. Good. How long 15 years. 15 years congratulations.

Okay um kids. Okay two kids how old okay. So you really have to have both legs going at all times. Right and here's the thing i want you guys to get and then you say to me i want to grow my business and i want to take action.

And i want to do all the things i learned at the event. But that's what it takes to have a business built out of bricks does that make sense can we give these ladies. A giant round of applause. Thank you so much all right please help them down please help them down.

Now. You tell me isn't that basically business yes or yes. My friends so let's talk about the decisions. We want to make the first thing you need to know is this take a look at the slides in the us.

Because we have access to it from my canadians from my venezuelans for people around the world we have access to the data so in the us. What we know is there's 54 500 teams documented right now in the us. And you should write this down they have about 230 000. Agents do you all hear what i'm saying here 54 500 teams out of the 16.

Million agents licensed in the us. 230 000 of them are either on a team. Or led a team. Then you say well how does it get broken down.

45 000. Have four people or less 7084 have 5 to 15 people marketing director transaction manager sales agents videographer and everything else then you basically have 1600 people that have these mega teams with 16 to 600 people. So. Let's just stop for a second and let's play the ambition game so tell your neighbor.

The future is clearly in teams which of those team models do you think would be right for you in the beginning. And what would be right for you long term share with your buddy go. Which of those three numbers. You tell your buddy let's be clear my friends really what we're talking about high level is the bifurcation of the intelligent agent.

The intelligent agent realizes that the whole game is get out of being stuck and get into scaling get out of being stuck and get into being scaling like how do i do more of what i do best. How do i do the highest and best use of my time look up here how many of you are like i am phenomenal at transaction management anybody so one person at a four thousand okay i got two so two of you should either start your own transaction management business or you should find a bunch of artist agents and have them all go to work for you in your team the rest of us. I would bet the highest best use of your time is meeting with a buyer meeting with the seller hanging out with past clients. Doing an open house doing something that is creative with people.

Yes. Or no. Yes or no so remember the money three thousand dollars per hour versus like 25 bucks per hour. The second you're doing all this stuff you're at 25 bucks.

An hour maybe 20 you're doing all this stuff you stay at 3 000. And the game is how do i stay only at 3 000. You guys with me on this how do i only do the highest and best now if you look at it very simply stuck the stock agents. Many of you inside this room.

You're out of time you're understaffed for your ideas. This is what we were talking about earlier. Hey man. I did average sales price 200 000.

I've done 7 million dollars since february as a brand new agent you got all these things you want to do. But you don't have the team around you so you know what happens you go like this rich poor rich poor sound familiar anybody market market market build build build get it going get it going have lots of deals stop doing all this stuff close the deals. Get drunk hang out it all starts back over again and you run that cycle. We want to get out of that so again go back to the numbers.

The people at the top are all either starting teams or look up here or they're merging with others and building super groups any nba fans here anybody all right so nine of us let's go lakers. Who's your team they suck their time is done. It's unsustainable. We have like three big men at seven feet you guys are gonna be dunked on non stop who do you like the miami heat.

I like the heat. But i really just like miami just in fairness. But they suck compared to the lakers. I'm just saying i'll take a bet with anybody on the lakers.

We're going to kill you all here's my point. What's happening in real estate. Today. My friends is super groups are being formed john and lauren.

My clients up in la all of a sudden they get this partner who's a 150 million dollar producer. Who says hey you guys did 300. I did 150 let's join together we're seeing that happen more and more and you know what that means for the person in this room. That's like a really good salesperson.

It means you might be joining somebody else's team to only do what you do best does that make sense does that make sense to you yes or no now so let's just talk about it because i'm going to make a bold statement patrick. I believe the market. We're going into is the end of the solo agent raise your hands over your solo agent. Raise your hands.

Really high really high solo agent. I don't mean you're on a team. I mean you don't have a team. It's you 100 of everything is on your shoulders listen to me people.

I believe fundamentally let me say to you this way. The audacity to believe the notion that you could be the best head of it and actually get your phone working. And know what your freaking passwords are anybody like some of you just need a person for that the notion to think that you could be the best transaction coordinator that you could be the best listing launcher that you could be the best customer experience manager rainmaker digital marketing specialist videographer lead nurturer showing agent buyer specialist. Listing agent and lead negotiator at scale.

Did i miss anything oh. That's right have a relationship have some fun go on some dates have a good time the notion that you can do all that in the competitive marketplace that we're in today and then guys and do it at scale is faulty at best where could you go to get tuned up to get your mindset right to get an unlimited number of marketing and lead generation strategies to win even more listings. The answer. My friend is obvious the success summit in dallas august 23rd through the 25th.

If you want to be surrounded by thousands of like minded individuals that are not buying into the noise. But instead staying mentally tough. And most importantly earning the money that they desire then you need to join us so to make your reservation just go to tomferrycom. Forward slash summit make sure you put in the promo code summit15 that's summit15 to get 15 off your ticket.

I can't wait to see it this year's success summit look up here. My argument is i want you to have an amazing life. Which means dawn you got to level up. And say maybe i need that second assistant.

Maybe i need just that first assistant and i know the vast majority of you look up here look up here you're not cheap. Because you wouldn't be here you flew here you got here you put yourself up in a hotel right you're having lunch you're having dinner. You're partying you're not cheap. But it's the fear of hiring that person yes or no guys be honest.

And guess. What all these men and women up here have the same fears hiring their first sales manager hiring their first videographer and you know what it's like guys. It's like this it's the j curve. It's i want to be up there.

But i know i got to go down through the valley of despair before i get there so when you hire that person write this down in your notes. You ready a typical and you'll know your own market administrative assistant full time in the office not virtual ready virtual assistant write this in your notes. A thousand to two thousand dollars a month and i'm going to say this in the with the utmost of respect for all of them that do it around the world. It is the cheapest labor on the planet a thousand bucks a month and they work eight hours a day they will work six days a week they live in the philippines and they will work your schedule.

Which means they're working from midnight to nine their time and god bless them for doing that work and they make a fortune in their country. Doing that work and i have clients. Today that have four virtual assistants that are just constantly doing all the things they need done so when they come in the office. Everything is ready to go and you say oh but a thousand dollars a month or two thousand dollars a month.

What if it doesn't work out shut up no look up here shut up what if it does work out what if it does work. What if you get the perfect person who's like i got you i understand you don't worry. I've already taken all the training on how to become a real estate assistant. Matter of fact the company virtue desk out here they already told us everything.

I'm supposed to do i'm going to launch your listings. I'm going to do this for you this review holy crow now i know why some of you won't like that look up here because then what are you going to do. Oh my god nothing else to do except. Market shoot videos go on appointments.

Make phone calls do you all get the challenge. So. Maybe you hire that first assistant and it's you go. Oh.

My god it's like 60 000. Or it's 50 000. Or you're in new york and it's 120 000. Bucks in your mind you're like it's 120 000.

No it's 10 grand a month. It's 2500 a week. But if you live in new york city and your average sales price is 3 million bucks. It's one transaction one transaction and your assistant is covered.

But what would that guy or gal do for your business. I'm telling you right now my friends this industry is evolving in front of your eyes. And if you don't start thinking about how you're going to leverage yourself to do more you'll sell some houses. But you're going to be more miserable.

I say write this in your notes you ready give up sheckles for time and happiness. Give up sheckles for time and happiness. Give up sheckles for time and happiness. So i will gladly have four videographers versus just one.

So all i do is come in and go. Blah blah. Blah. Blah.

Blah blah. Blah. And then i go hang out with my wife. And i take my son and we go mess around and i go play golf with my friends and i run meetings.

I do everything else. But i don't want to be behind the scenes trying to figure out how to use video and how do i upload it and what's the right seo. I want to go like this hey welcome to tom ferry show and then leave and know it's all managed. How many of you get what i'm saying or say.

Yes. Okay look your buddy right in the eye. All my team. Plus clients look your body right in the eye.

And say you are understaffed for how big you think jim you're understaffed. So now you're ready so the question is sh the question is ready which model is right for you so i'm going to give you a little heads up take a look at this in 2021 2022. It's pretty obvious you have six choices. So here's your six options going forward and i want you to decide.

Which one is right for you you can become what i refer to as the artisan agent. So look okay look up here. Tell your buddy right. Now your all time favorite.

Singer. Your all time favorite singer. Like musician singer. Who's your all time favorite who's your all time favorite man.

Do you did none of you like music what does it matter with you people dre okay. I love that all right whitney houston. Beyonce beyonce. Okay all right so look up here shh my favorite all time ever and i met him and i almost died is david bowie.

Now if you understand the way. I was raised my uncle gave me a bunch of records like i had kiss alive two and the beach boys when i was nine my first concert was kiss at nine years old do you guys know the band kiss and i was dressed as ace freely face paint makeup. My stepmom pua took myself and my older brother matthew and she picks us up timmy at lax in our old 300 d mercedes that had 8 million miles on it my dad is in a suit and tie. He gets off the plane with his briefcase and his luggage and we get in the car and we drive straight to the great western forum and my dad god bless him i don't know if you know about my dad but my dad is a superhero.

He comes across like a tough son of a but he is a super human being and we literally we are sitting at kiss. I'm nine years old face paint makeup. My dad is in an armadi suit. Seven rows deep they're doing got a thunder right with like gene simmons.

And my dad's like this like com. Now. It may have been all the weed. I don't know you with me.

But then my uncle kevin gives me a bunch of records. And he gives me records like lou reed and david bowie and iggy pop. And i fall in love with this music right and i like it's theatrical and it's interesting and it's well written and i like all that stuff. But i was in new york city and i'm on the phone.

I'm going to date myself have you throw me that microphone real fast. So you ready i'm on my cell phone does everybody get the visual. You know it's like i'm talking to my little sister at like eight dollars a minute and i've got michael in a stroller and steven is in kathy's belly. And i literally am like this.

I'm talking to my little sister. She's like what are you doing i'm like oh. I'm at this hotel in new york and mom's here. You know they're all going to a show and i'm in charge of babysitting.

She's like what's michael doing i'm like he's sleeping. And she's like where are you and i'm like i'm just sitting in the hotel lobby just chilling. I think i'm going to go for a walk in the park and she's like oh that's awesome and i go oh my god she's like are you okay. And i'm like david bowie's here.

I gotta go bye click and what i didn't know is david and his wife iman lived in the building so in this building there's the residence tower and the hotel guest tower. I didn't know that i grabbed the stroller and i just start following him and we get to the residence tower. Which i don't even give a about and they hit the button. And i just got on and iman his beautiful wife who was pregnant at the time she turned.

She's like oh your baby's so beautiful. And i'm like oh. And i've heard that you're pregnant congratulations like that's so exciting now inside. I'm like this david bowie.

I'm because i'm like this close you with me. And he's like this tall and i was like i thought you'd be taller. But i remember talking to his wife and thinking just be cool just be cool just talk to the wipes talk to the wife. So like we're talking and then i kind of casually reach over and i go hey you know i've loved your music for my entire life and he goes.

That's great what floor do you live on some of you get it i was like oh oh. I think i'm in the wrong elevator. He's like i think you are and i was like i'm really sorry i turned back to the wi fi. I had report and i'm like i'm really sorry.

But god it's really nice to see you guys and could you guys get me down from here and they're like no problem. And he turns to me. And he's like hey thank you so much. And yeah.

I appreciate it and then i'm like hey literally. I have this record this record this record this week that he was like oh those like all my ears. I'm like i love all of your music and i just appreciate you and i'm like that's totally grad we get to the penthouse. They leave and go bye and i go all the way down slightly embarrassed.

But i didn't give a you guys with me on this because if i could have i would have kissed him. I'm just letting you know my wife knows i would have been like just in two seconds. Like i don't i don't even care like he's david bowie right so here's my point david bowie is an artist he was a painter he did movies he obviously did a lot of music. But you know what david bowie.

Didn't do you know what he didn't do he didn't even manage his own money you know who did that do you guys know spencer raskoff. That name co founder of a little company called zillow. Now he's out of there for the last two years. Spencer raskoff's dad managed all of his money and his entire estate.

You know what david bowie did he did his art. He would do pop up shows in new york city. And just jam in front of people because that's where he was at his highest and best. And then what did he do he surrounded himself with people that he trusted that allowed him to do his art that is the artisan agent beyonce.

The girl that walked by beyonce doesn't move cord bags. And say oh are the dancers doing the right thing. No someone else make sure the dancers are doing the right thing. Because beyonce's gonna come out and just be her best beyonce does that make sense so answer.

This are you more of an artist aka. You don't really know what day. It is you kind of suck at time management you have three crms you don't use any of them. But you're really good with people.

Tell your buddy if that kind of describes you just tell your buddy really quick. And i know. It's a lot of you jen in the room up here too or or are you the rigid organized operator. Who goes to bed or better.

Yet you go to your spouse and you're like honey honey. Do you want to look at the spreadsheet because like for the spreadsheet for that guy or that gal like that super operator like the spreadsheet is just like oh right like they just get so excited about it. But the artist looks at the spreadsheet and they're like i just don't understand all the numbers. They just go do we have money or not we have money okay good.

But here's the thing you can't be an artist in today's environment and have to like cut your ear off to one day be successful or die. Before your art is worth something in this environment in this business. You want to be the artist. But be surrounded by the people that allow you to go produce your art does that make sense does that make sense yes or no kristen.

This is what we were talking about like it's like you're the star right star of the show that's your thing go do that. And you gotta go out and you gotta hustle and you gotta do your business. But all that other stuff's gotta be managed so ready at this point you either declare. I'm an artist and you go i'm getting a vc like virtual assistant or guess what i'm going to get my own assistant.

But for me to be involved in any of that other nonsense is not the highest and best use and you suck at it right or wrong look you want to know how i type. So. You don't want me building powerpoint or typing. Email.

All you want me doing is talking to clients that make sense. Now option two create a small team you're a little more ambitious you have lead generation down you want to exercise even more art you want to serve more clients that's totally awesome option three build a midsize team six to 15 people or build 16 to 600 because you figured out how to scale yourself. But there's an alternative maybe you merge or join a team maybe that's your move. We have a ton of team mates in this room.

Right now people that their team lead like you saw the q and a earlier. The gallon brandies team she's like look i'm selling 50 homes a year and i just work on this team they do all the nonsense. I'm the artist that is a brilliant move in today's environment. How many of you guys with me on this say.

I if you're great with clients let somebody else manage the minutia or i have an alternative for you ready everyone read this out loud go or lower your ambitions welcome to tom ferry coaching here we go you.