Gary doesn’t really watch TV, but he has Fredrik Eklund on from Million Dollar Listing New York. Gary's wife, Lizzie, loves the show.
Fredrik knew the opportunity to be on the show was a no-brainer. The ability to gain mass exposure is unparalleled when compared with trying to do it with “mailers” and what not.
Fredrik is scared of SnapChat (of course, Gary brought up SnapChat, ha!), he doesn’t want to get addicted. He isn’t on Twitter. He likes Instagram because it’s very visual. Doesn’t want to just “dabble” in things, wants to be “all in,” so he doesn’t want to just “give Snapchat a try.”
I totally agree with this mindset. It’s very hard to do even as simple as it sounds. I struggle with this, so this is good inspiration!
Gary answers a question about how to build a brand on Facebook and Instagram for a real estate brokerage firm. Gary says one of the biggest ways a brokerage firm can do this is to create a library of content and empower their agents to “curate” that content for their audiences, because the individual agents are, simply, not going to do it (create content) on their own.
Fredrik fully believes that social media has to be very personal, very emotional. You have be be vulnerable… some people will make fun, but most (the ones that matter) will be drawn to it.
Totally agree with this. I’ve often said about my own “marketing” and “persona,” the guy you see you on video, the guy speaking on stage, that's the same guy you’re going to get when we sit down for a beer. Just do you and be OK with it.
Another real estate question: What part of the business of real estate is broken and how can technology best solve it? Gary’s response: PAPERWORK! There’s too much of it and it equates to TIME. Solutions that REDUCE THE TIME is where it’s going to be at!
Gary thinks that the “creative” aspect of that world (the expertise, the advice, the opinions) is what’s valuable. The “commodity” (the process, the paperwork, etc.) is what’s going to improve with technology.
When people say, “oh, these types of professionals are going away” (such as real estate agents), that’s not true. What happens is that the “C” and “D” players DO GO AWAY, but the “A” players grow and take up the marketshare because those are the smart ones that shift with the times and leverage the technology as their friend!
There’s some “New York talk” that I’ll skip over… no business value to share with you.
Question for Fredrik: How did you build and continually contact your database and, now with your success, how are you managing that?
When Fredrik started out, he was in a small place, just “setup shop,” he never had a “database.” He just viewed every single person as potential “dollar signs” walking around. He has always been obsessed with “growing” and not thinking his last deals have “made him.” Instead, it’s a new day and it’s time to make another sale.
Question for Fredrik: When starting out as an agent, is it better to focus on branding or to focus on transactions?
Fredrik’s answer is “both” and then Gary interrupts and says, “Yes, that’s the fucking answer! It’s branding AND sales… everyone now has the opportunity to brand (because of the Internet), but selling is HUSTLE!”
Fredrik: “Be you and own it!”
Gary totally agrees and told a story about how in his early episodes of Wine Library TV, he was very reserved. Then, at about episode 80, he just “went for it” and showed who he really was. Then things really took off.
Fredrik’s last bit of advice, which is simple, yet fantastic: Answer these questions: What is your true drive? Is it money? Charity? Your Mom? Then, what is the goal associated with that? Then write that down and put it up on your mirror, on your fridge, etc.
Great episode, worth a watch even if you aren’t in real estate!