[#54] Moving to a New Real Estate Market with Nick Baldwin

[#54] Moving to a New Real Estate Market with Nick Baldwin


– Welcome to the Hyper-Fast Agent Podcast I am so excited to have V Nick
Baldwin here with us today. Nick is one of the most
epic real estate agents and I’m serious about this. Has created influence like I’ve never
seen another agent do before, so Lab Coat Agents
90000 real estate agents are part of your group. Let’s just start by talking about that and then I wanna hear about the team that you’ve built you move to new market. You’re building a team I mean
incredible success story. – Well that’s just a little
bit of pressure Keri, (laughing) a little bit
of pressure by the way on the most epic agent ever and the most influential. Just a little pressure. So recently I moved from
New Jersey to Michigan back to my wife’s hometown
and of course it was scary because that’s like an
agent’s worst nightmare. Like moving from a market
that you grew up in and that you became an expert in and then you have a sphere of influence in and then your business is thriving and to a market that
you have no idea about. – Yeah it’s like terrifying I’m sure people who are
watching right now are like oh my god if that happened
to me I would lose it. – Right.
– Right. – Exactly. But you know it’s it’s it’s
not as scary as you think because while every market is different. We’re in we’re in a relationship business, so it’s really all about relationships, It’s all about getting
involved in the community. It’s about hiring the
right people around you. It’s like it’s about implementing the
right models and systems. So I had a team in New
Jersey and I took that model and that system and
moved it over to Michigan and luckily it worked the same, it actually worked better
in the Michigan market, so it’s just really all about taking what you learned
in that original market and implementing it in a new market because really if the model, if the model is good it’s
going to work anywhere. – OK. So help help everybody understand this, you make the decision and you arrive in your new hometown and what are the steps that
you took at that point? – So luckily when I well first I took a job at I took a job as a team leader in a Keller Williams market center and that market center happened
to be in my wife’s hometown. If it wasn’t in my wife’s hometown I probably wouldn’t make the made the move but I knew that’s where she wanted to be, so I decided this was a good move for us. And so luckily I had relationships
with agents in that area cause I had referred business to them and one of the agents
that I referred business to actually sold my in-laws home and then when we moved out there she actually helped us purchase the home. – Nice.
– That we bought in Michigan, so when I moved out there and I decided to start
my own real estate team. She was the first person I went to, to run the team, so I had built up these relationships and I knew she was the right fit. And so I knew that by hiring her you know that she would be in good hands. – That’s really cool, so you already had vetted her because you’d personally
experienced her on the buy side and the sell side at that point. – Exactly yeah. So I was confident. Listen it hasn’t been easy. It’s a new team so to startup, but we’re doing well we’re on track to do 22 million and 84 transactions and I think in the first year of a team, I don’t know but I think
that’s pretty good. – That’s awesome. That’s really cool. So then one of the problems that I can imagine is lead-generation because if you’re coming in a new market you’re not tapping your
supply in the same way and it is a relationship business. So what are the pillars of lead generation that you guys are doing to accomplish those
insane results so quickly? – Okay. So it’s interesting, so the two people that I hired on my team. Were were are are the boss the agent that represented
us in the sale of our and the purchase of our home. And then I hired the agent that was the listing agent on the home. (laughing) – I told you, you are influential. – Yeah. So
– 100% closing ratio. So when you get yeah. So when you get people who
are already in the business in that market to form a team with they have a sphere of influence. – Right. – So I can’t think of the
exact numbers right now but we are doing business
from their past clients where in fact about to
do our first client event at the end of March for March Madness is called March Madness. and Mario Kart. Sorry Mario Kart. My Italian wife always corrects me, I always say Mario she says Mariozo. – Tomato tomato. – So I don’t have any past
clients in Michigan but they do. – Right. – And so we’re inviting them and introducing them to the new team. Now the lead generation
we’re doing is expires and FSBOs and then, and then Ylopo so Facebook ads. – Yeah. – And so that’s the most
scalable business model in my opinion with Ylopo because our cost per
lead is around $3 to $5 and so if you gonna scale a business and start a team in another market. Facebook is the way to go, so that’s where most of our
opportunities are coming from. – Nice. And what is the biggest key to your success in converting those leads? – All about the follow up and all about the
consistent lead generation. My agents are on the phones every day from nine to 12 Monday through Friday. We also have a virtual
I say that is nurture that is making the initial
contact right off the bat, but regardless of that
it’s all about being on the phones to being consistent and that’s what they’re
doing every single day and that’s where the
appointments are coming from. – And how do you hold
them accountable to that When they’re the ones that
have the past clients? Like what was the appeal that you’ve got them to join the team and feel well I really
want to partner with Nick? Besides your amazing influence. – Oh my gosh! So it’s all about the value proposition. – Yeah. – So I, I have. I don’t wanna say shiny objects, but I do have shiny objects
like I have things that work. I have a great CRM, I have a great Facebook
lead generation platform and I have great tools that
my agents have access to that would normally cost them
thousands of dollars a month, a year for that matter and so that along with
the consistent coaching – Yeah. – Makes it, makes it something that’s appealing. So when I was talking to them initially, I said what’s the one
thing you want for me. Like all of these things aside all these shiny objects and shiny objects don’t close deals unless you know what you’re doing. I said what’s the one
thing you want from me and they said well coaching and training. And so
– Yeah. I was like that’s it. Like yeah that’s all we want
cause that’s everything. And so we’re holding them accountable, they have to make 100 contacts a week. They have to set a
minimum of an appointment a day like if they set an
appointment at 10 o’clock. Obviously they don’t stop, but they can’t leave that room
until an appointment is set. – Nice. – And they have GCI goals and so I’m just consistently and they don’t get to
leave until like I said, they don’t get to leave until
that appointment is set. – So they’re hungry. They go and get fired up.
– And by the way. – Just end it for a and with lead generation
that’s your first job. So like if for some reason an appointment pops up at 11 O’clock they
don’t get to do that extra hour or legion if you erase it you replace it. So you do it later on the day or do it on the weekend it has to be done or else you’re gonna lose the momentum. – Yeah.
– Yeah. that makes sense. – Plus I mean I think
I’m a pretty nice guy. That’s a value proposition right. (laughs) I don’t know. – Well what you doing. – My rainmaker Sunshine is here, so she might have something
else to say about that but who knows. – What you’re doing is working and there’s a lot of agents
out there that are struggling and they can’t figure out how
to make their systems work and you obviously have a
formula that is working and helping them grow that’s huge. – Well here’s the many things I’ve been in the business a dozen years and it wasn’t really until like three or four years ago or I really. Started to feel like I was getting it. And by the way you never get it completely cause you’re always – There is always more to learn. – Yeah. – And it’s changing right. – All like the technology is changing so fast. – Yes. – And so I am always trying to keep on top of what the
newest and best tech is. And everyone’s coming hey. (laughing) Tristan is crashing the party. – All right. – I lost my trainer thought. – Tech changing
– Tech. like staying on top of what is new. – Tech is always changing, staying on top of what’s new, always trying new things. A B testing, scripting role playing follow up, nurturing. How many texts? is too many texts. How many calls? too many calls. – Yeah. You know there’s no
such thing as too much follow up but if someone says well, you’ve just called me way too many times say the word dial back
a little bit, but like. – How do you calibrate to
meet the client’s needs? – Yeah. No exactly you have to. Oh! What I was saying was that even though I’ve been in the business a dozen years I really feel like over the last three or
four years when I started to kind of figure more of it
out and kind of get my stride. And I wasn’t treating it
like a business before. – Yeah. – And once I started
treating it like a business everything everything changed, So. – That’s awesome. – It’s the one downfall for agents, they don’t treat it like a business. – Absolutely. Even what you’re talking
about having a plan and a schedule and holding
them accountable to that to make them successful that’s huge. – And so for me it’s hard like I have so many squirrels
you just saw people come in I’m in the middle of talking like hey, squirrels everywhere. – Yes. – So it’s they’re also
holding me accountable to doing what I need to do and in turn I’m doing
it the same for them. So we’re holding each other accountable. – Well one of the major
advantages that I can see for agents on your team
is that you’re learning. I mean Lab Coat Agents
enables people to learn, that’s the mission of it to collaborate
– That’s the mission. across the country and you’re doing that everyday and learning from the
brightest and the best, so let’s talk a little bit
about your vision there. – Sure.
– And when you started it did you ever imagine 90000
agents would be following you and actively engaged? – So no (laughing) because Tristan my Co-founder Lab Coats. We met through a mutual friend, his name is Steve Pacinelli. He introduced us via Facebook and Tristan had the small
group of like 700 people called Lab Coat Agents and they were just sharing best practices and he introduced us like Hey Tristan this is Nick. You guys should know each
other that’s basically it. And so I joined this group and Tristan and I just started sharing
things in the group. And next thing I know
you’re at 5000 members. Then 10 and 20 then 30. Now 91, and it’s really two things we got really we got in on the ground level of groups. – Yeah. – So four groups really took off, but it goes to show you that
content and value is king. – Yeah. – And people are joining because they’re getting all of that and unfortunately you got
your you got your trolls because it’s the Internet, but – yes. – It has given us a really good insight to the mindset of an agent and so our mission now is to just get that mindset to be
more business oriented and to focus on what’s important. – Yeah. – Cause so many of them
just dwell on things that don’t matter and it
affects their business. – Absolutely. It brings them down. – For sure it’s horrible. – Yeah. – Yeah. – So if there are one
lesson or observation that you would have for
people watching today that may find themselves
in that negative mindset at times what would it be? – That’s a really good question because this business is so up and down. I mean we’re in a
commission based business we’re in a sales business and
the market’s always changing. – Yeah. – But I get I get I get into I find myself getting into negativity. and basically I just give myself like a five minute
funeral for my negativity. – I love it a five minute funeral. – And it’s been a real struggle for me to just forget about it
because my downfall is I I tend to pay attention, no I don’t pay attention but I listen too much to
what other people are saying and doing when I catch myself doing that, I just need to take deep breaths. Like I said have that five minute funeral let myself be upset for a minute. But then think about why
you’re really doing this, think about for me I think about my kids,
my family, my house. Like my kids ask me why
you gonna work daddy? why are you gonna work? I say well daddy has to
go to work to make money because I don’t have
money we can’t buy toys. And toys are there big why. (laughing) And my big why is them, so when I say that they get it. – I just had that conversation when I was leaving to come here. – Yeah. – And mine was toys and donuts. – Yeah well listen. – Mommy has to work for the moneys because if you keep wanting donuts – The moneys, the moneys. (laughing) – And toys. – You gotta get the moneys for the toys. – Yah we gotta get the moneys. – So basically for me the negativity like I said it’s okay to
let things bother you, but I’m saying agents
get negative about things that are out of their control. – Yeah. – If something’s out of your control you just have to deal with it. Let it go. So you just you can’t control the things
that you can’t control. – Right. – So just if a deal is falling apart and you can’t control it, whatever is gonna happen is gonna happen. There’s gonna be another sale, so. – If you let that bring you down for the entire day instead of
having the five minute funeral and moving on. Think of all of the other opportunity that you’re missing out on because you’re stuck
in this negative cycle. – And by the way if
you’re letting one deal bring you down, you need to think bigger and you need to think
like a business person. – Yeah. – Because of one deal is
bringing you down. You need more. – Yeah. Well and another thing you
said you focus on your why, when you get in that moment what it allows Nick to have
the five minute funeral and move on is he’s really clear on why he’s doing what he was
doing and what his vision is. So when you get back to that, It makes it easy to move
to the positive side. So I would say my biggest
advice for anyone watching is get clear on your why and if that’s something
you’re struggling with, go find people who have
gone through that struggle. I personally have, I remember being on a Tony
Robbins event and sobbing because I realized I had lost my vision. This was just a few years ago, I already had a big team. What we accomplish the goal
we set out to accomplish and I didn’t know what was next, so anybody who you know that
has a really clear vision help them, ask them for help recalibrating your why, because then the negative mindset is gonna move quickly when you have it. To what you want and
what you’re gonna create and if you live there that’s so positive. – Also I would say like the one piece of advice I would
give to agents honestly is you have to have someone
to hold you accountable the way you’re supposed to
be doing on a daily basis. Whether it’s a coach a lot
of agents can afford a coach don’t get a coach just get someone that you can check in with daily and say today this is my goal. And then the next day OK. I hit my goal or didn’t hit my goal. And then what your goal is for that day. – Yeah.
– And they’re gonna tell you, so you just need that
accountability partner and if you can find someone like Keri, call Keri she’ll pick up. (laughing) Have someone who can mentor
you and give you advice. You know it’s good to have
those people in your life when you’re feeling down, so they can refocus you
on where you need to go. – Absolutely on our team we have buddies. – Oh! buddies. That’s a good idea. – Yeah. Because a lot of times if they’re having a similar
struggle sometimes it’s great to partner with somebody who’s
having a similar struggle so you can focus on it, but sometimes it’s really important to find someone who has really succeeded and knocked it out of
the park at your goal. So as an example if you’re trying to lose weight partnering
with another person trying to lose weight would not be
the right solution right. You would wanna find somebody
who’s absolutely fit, they know the right activities and they love and care for you. So they’re gonna give you the
tough love when you need it. I think real estate is similar. There’s times where if
one person’s really good at prospecting and the
other is really good at converting in person
they need to swap skills and hold each other
accountable to raising the bar. – Yeah that’s very good advice. You’re right. You’re right. – Awesome.
– Awesome. – I hope I did okay? – You did amazing. I would like to ask anyone who is not involved in Lab
Coat Agents get involved. There is so many opportunities to learn, in fact you guys just
interviewed someone tonight who is an Instagram rock star. – Yeah. So Tristan actually interviewed
an agent named Tessa Bella. Am forgetting Tessa Bella Jelt. Oh! man I’m forgetting last name. Just go to Instagram and type Tessa Bella. – It doesn’t matter because Tessa Bella you just need two A’s. Tessa Bella.
– Tessa Bella. – I think she’s got like
12 or 13000 followers, but she’s really engaging and
gets really high engagement and she has a whole curriculum on o how to tackle Instagram at a high level. So that was huge, but also checkout labcoatagents.com because it’s a Web site totally free. It’s written by agents for agents. There’s like 500 or 600
blogs and webinars on there written by agents in the trenches
every single day doing it and Lab Coat Agents on Facebook. So good stuff. – Yeah. You guys have to do it and we have an event coming
up for Lab Coat Agents in. – I just sneezed.
– Bless you. I just sneezed on camera. – Bless you, you’re all right. We have an event coming up in San Diego. – I was trying to hold that
sneeze and couldn’t do it. – Is it San Diego? – Oh yeah. So we have LCA live which is our big two day event San Diego. Right now it’s looking like
it’s gonna be end of June. We’re about to solidify dates and then we’re gonna be in Detroit for a one day event cause that’s I’m in the Detroit area and then you’re in
we’re going to Portland. – Portland we are going in July and we’re looking at
dates in D.C. as well. – Yeah D.C., so we’re doing a lot of one day events like today we’re here
for an event in Atlanta and we just had one
last month in St. Lewis. Then we got the big two
day event in San Diego and then another big day big one day event in Detroit is gonna be. – We’re gonna blow your minds guys. We’re gonna bring together so much talent. You should make sure
that you’re continuing to push your business to the next level. All right guys thanks
so much for joining us and Nick thank you for being here. – Thank you Keri it was lovely.

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