Talking “Time Limited Events” and Creating an Uneven Playing Field with RealtyHive CEO Wade T. Micoley

Welcome to brokerage insider the podcast where we interview the leaders in real estate and technology. I'm your host Britt Chester director of client success at Travis. And today we have veteran agent and broker Wade McColey Wade. Thanks for joining us today. Thank you. Thanks so much for having me. Wait, where are you? Where are you joining us from? Where are you based? We are located in green bay, Wisconsin. And how was the weather in green bay right now? Rainy. It's been very nice, but it is raining now, but we, we appreciate even the warm, rainy days after a few months of I can definitely imagine that wait, you've got quite the resume, you know, when we were just kind of talking a little bit, we'd got, got Realty high, you got cash certified. Tell me a little bit about your history getting into real estate and just kind of give our listeners and audience, you know, a little bit of your back. Sure. Well, I Fell in love with real estate pretty early on in my, in my, in my life. And one of the things that intrigued me so much about real estate is formerly before that I was in a rock band and Doing a little bit of small touring and realize that boy, this is a tough way to make a living. Cause we weren't, you're going to become the rolling stones by any means. And had a brother-in-law that was in real estate and kind of watched it and thought, okay, this looks interesting. And he approached me and I got into real estate fairly young when I was about 2021. And just absolutely fell in love with it and maybe a little bit for the wrong reason, but I thought houses were cool and really, really enjoy the fact when it, when the light bell went off for me light bulb went off for me. It was really about the fact that I didn't know anywhere where I could make. The kind of money that I wanted to make. And what I mean by that is in real estate, there's really no ceiling. I mean, you, you set your own ceiling and real estate, you can make as much or as little as you want by just, you know, getting really efficient, working hard, having good systems. So that's what launched me into it. I was, I started a couple of different real estate companies sold those was number three for close transactions for a major franchise. And just, that led me to all kinds of really cool opportunities. And that's another thing that I always loved about real estate was the opportunities that it can lead you into if you become really good and known as being really good. So that led me into. The banking industry, which I helped co-found Nikolay national bank and it's now publicly traded a $7 billion company. That's done extremely well, a lot of talent around that, that wasn't just me by any means. But then when the crash came in 2009, 2010, I saw really quickly that community banks and banks needed a system to help promote their properties in a new way globally. So fast forward through that, we worked with banks in 38 states. I'm always hiring local agents as our reps. We still do that work today. Then got a opportunity to work for the federal, with the federal government selling assets for the federal government and that morphed into. Realty I've been cash defied today. Yeah. And I was able to look around on Realty hive. I think, you know, one of the things, and we had mentioned this before you're licensed in nearly all 50 states. And, you know, again, that, that thing that stands out is, is that continuing ed continuing education and, and what all that takes. But can I talk about, you know, why, why you're licensed in so many places and then how that kind of speaks to Realty hive and, and the business. Yeah, what happens is it's, it's kind of a two-way street in this sense. Consumers come to us because they want utilization of our platform. In fact, When we have a consumer comes to us or an agent brings a property to us to help them with, we have an over 85% adoption rate. So what we have people really like and want. So it's a two-way street in that same. Meaning that agents will bring properties to us. And we will also bring properties to agents that still holds true in the banking industry. We do work with a number of banks all across the United States and we'll get a one-off property in Utah. The reason for the licensing is just from. A standpoint of making sure that we have all the basis covered. But if a call came in to us from Utah, we're licensed in Utah as an example we can answer a couple of quick questions for that particular buyer, but then that buyer. Quickly spun over to that local agent that we've hired to work on that asset for us. So it's just a protection thing more than anything we're using local agents everywhere that we work. Now, talk to me a little bit about the, the Realty hive platform. You say people come because they want that access to that platform. Can you kind of walk me through what the, what the model of Realty hive is? And really what the value is, both for agents coming to you as well as institutes. Yeah, the, and we have as an example entire companies that we partner with I'm thinking about office in beliefs that we just brought on and they have about 325 properties listed currently. And we're pretty, we can pretty much customize. How we work with a particular agent, but most, most usually a company and they need outreach into the United States and Canada. And we, we do that every day. So we provide that to them to find them more buyers on their properties, but what the real the real. DNA of Realty hive is, is back when we were doing a lot of work for the federal government and the banks, what we very quickly found out is an auction format is very successful in creating bias. There's, there's a couple things that are really bad about it. And, and I've seen him in full effect with doing some of the ballroom events we did for the FDAC, but most importantly, there's some really good parts. So when we create a Realty hive, what we did is created this high bred model to create the most activity. Keep the seller and the agent in control of the final sales price and not have to work towards a certain specific date. So by marketing the properties, marketing them in a very unique and specific way and putting them within this. Platform of a hybrid. We call it a time limited event, not an auction. What it does is just creates a lot more activity on properties and we have all kinds of samples of that properties that have been on the market seven, 800 days that we've come in, assisted an agent. And that agent got an accepted offer in a hundred days. Now being the new third agent in that transaction, there's multiple wins there for those. Particular people that utilize our platform. So as an example, and I'll just give you this specific case. This agency, young agent works for a great company. They, that great company has all kinds of tools, but the question got asked of the third agent, you know, fairly, fairly new to the business. Tell me what you're going to do that the last two agents didn't do well, that's a pretty tough question because. As agents, we can talk around that. And but you know, what I really like to do is dive into the details. And if, if I dive into those details, there's very little difference. And I don't mean to offend anybody when I say that, but there's very little difference of what they're doing from the standpoint of marketing and signage and MLS and et cetera. There's differences. There's no doubt. But in this case, this young agent said, Hey, I've got this affiliation with this global marketing platform. They do time limited events. Would you like to hear about it? And this particular seller said, yeah, let me, let me jump on the phone. So the agent gets one of our business development reps on the phone. We present to the city. Remember 85% plus adoption rate. The guy in the house says, I love it. I've never seen anything like this. I want to do it. Now. What happened there is really multifaceted. Okay. And what I mean by that is yes. The property came in. Yes. We marketed. We put it in a timeline of that property sold. Wonderful. But what really happened was that agent got a. That's what really happened because he had to show a differential. So agents are using us as a listing tool, so to speak, they will use us to extend a listing. So, you know, the hardest two conversations you got to have in real estate. We need to reduce your price and we need to extend your listing, the hard conversations, right? And in what we've developed with Realty hive is this way to work that into both of those conversations. So that either way the agent wins, right. If they're trying to get a price reduction, they can say, well, we typically would do a price reduction at this term and listing with this amount of activity, I would suggest we reduce the price to add. Or I want to give you another option, which is this time limited. So either way the agent wins, right. I just want to, sorry to interrupt time-limited event. Is that, is that different than calling it an auction? And is there a reason? I mean, because to me those, the two sound very, they sound the same, but I mean it's time limited event. Just kind of like change it in in its compliance or, or what is the kind of, what is the, the mindset there? Really good in-depth question. We have tested this four years running the same property under two different languages. They both get almost identical reaction. The difference is that when an agent has to go to a seller and bring up the word auction, it's usually a negative situation. So every seller is willing to say, you know what, for the certain amount of time I'm willing to, in a sense, kind of look at the marketplace and look at all of the offers available within the certain timeframe. Thai I E time limited. So when we switched from doing what I call old school auction formats and switched it to this new retail version, the acceptance rate from the everyday retail seller is off the charts. So buyers love auction. Sellers necessarily don't love auctions. The, the other part that came up with that is there were a lot of auctions back in the downturn that were done for financial institutions and secondary underwriter providers of, of mortgages. And there was a lot of negative connotation to that auction companies were cutting the agents out every chance they got. Approach the banking industry back then from the standpoint of why do we want to do that? A you're typically don't want to fire sell your product and B we want to be all inclusive. So the idea from day one was that we were not going to do this in a way that was against the real estate agents. We were welcoming the real estate agent. And it's proved very well for us. I mean, I, you know, auction in my experience, you know, which has been, you know, heavily focused. In residential real estate. You know, my exposure to auctions has been definitely more in the luxury sector, right. And, and the, you know, I think of a company like concierge auctions, they come to mind. And that's, you know, really where, where my kind of knowledge stops in these, in these time limited sales and in this auction kind of format, are you seeing that same kind of adoption at the. Kind of residential, you know, middle market level or is that a little bit more unique? And, and I asked just, you know, again, kind of going on the site, I see we've got a lot of international properties. There are some residential listings and kind of residential lands spots, but what's the, what's the adoption like, you know, just from the you know, from that, that residential, single family home level. Well, it's it's most of what we do. There are again, this is the best way to think about it as it's like a retail version of it. So a it's very inexpensive compared to some of the companies you spoke about. I'm a seller and there's a major difference in philosophy. And that philosophy is what's winning out with what we're doing with the consumers and the brokers. And what I mean by that is. If you take a high end property of $5 million and you tell a seller, they have to commit to taking $2 million or they have to commit to an absolute Ark. I'm assuming. And I'm going to assume that they don't have shell bitters in the audience, making sure that it doesn't, that it gets up to a certain point, but they. Then pay the agent 6%, 5%, whatever that may be. And then the auction company might take five or 10% now it's buyer's premium, but the problem is the sellers really still paying it in the price. So to, to have a an event that costs a seller 10 to 15%, let's just say is a big number and the ability. That most sellers can't agree to that that kind of strike price. Most people don't want to do that. Some can do it obviously. So when we did it, we wanted it to be very much all inclusive. So in our events, there is the seller has control over the price at all moments. And that's a very important aspect because. If on an on event day, you get X. If we sit for two more days, we might get a bigger number for that seller. So the sellers always in control of calling, when they're going to say that's, it let's take it. The other thing is we're charging only when the property sells and it's as low as 1%. For us to run the platform. So if you think about it, what we're doing is we're creating this art open architecture platform that agents and brokerages can come in and use when they want, when they see fit. So it's almost like they own their own time-limited event or auction company. It's not white paper because the recognition of our traffic is greater than me calling it. You know, Travis XYZ. So in that respect, that is that is proven out really well. And because of all those things it's been designed for that typical seller that's, you know, if you go in and list the house right now, and this is a really cool statistic, by the way. So we have the ability to pull in 90% of the MLS is and analyze the data. When we do that, we found that 18% of the properties that are residential only in the U S that are listed, have been on the market over double the average days on the model. So, what is that is telling you in the hottest real estate market ever, there is still stuff that is taking too long, and that could be just because of price. That could be because of marketing. That could be of exp exposure in that marketing, but by taking it and wrapping it into a new package, so to speak and promoting it in a different way, then you get really cool and different, exciting reasons. So it was, was Realty and I've launched. When was, when, when did you start Realty dive? Well, the premise of it, we started back in 2010 when we were working with the banks and after that a little bit, the federal government on a bunch of jobs and about two years ago, probably two and a half years ago now is when we, we kind of took it out of my name, so to speak and made it into a more branded, a generic name called Realty hive. So process has been going on for you know, 10, 11 years, but yeah. New or the launch of the company itself has been just for the last, let's just say two and a half to three. Okay. And then what kind of, you know, you're saying y'all have access to, you know, 90% of the MLS is, and then there's the, the, the, the thing that comes to mind for me right now is how hot this market is, right? Like days on market in I'm in Denver, Colorado, our days on market has pretty much halved. Our median home price has gone up a hundred thousand dollars, you know, year over year. So, you know, I'm immediately, you know, not skeptical. You know, I'm wondering like how that, that, that time limited format kind of fits into, into this market. And maybe it just, it doesn't right now, or maybe it does, like, how do you, how are you breaking into those markets that, you know, can't keep inventory on the shelf? Or is it kind of like using, like you said that as data back decisions to say, yes, there are, there are properties that are moving very quickly, but there are also properties that are not moving quickly and we provide that solution. Yeah, it's a little bit of both. And then what you have to do then is step back and look at it on a global scale. Right? So the U S is hot right now. There are lots of areas in the world that are. You know, as an example beliefs, the average days on the market and beliefs is over a year. We're very close with a particular major company in assisting them in Europe. And we're in conversations of that right now. And when you look at Europe, there are certain segments of Italy that are extremely hot, and there are certain segments that are certainly not in the same, and there's different markets that you can go into easier than others. And there's some language barriers and so forth. But even if you were to take Denver, I would challenge this. First of all, as a real estate agent we tend to. You know, gravitate towards what's happening and, and rightfully so, what I call that is buttering your bread, right? If you go out and you're looking at a medium price range, about $500,000 property, guess what? All the competition's there from the standpoint of a listing agent, this is coming from the, the aspect of looking at it as a real estate agent, all the competition there, there's probably downward pressure on commissions because of the competition. But there are other segments that I challenge anyone. If they take Denver and they run a report on the MLS in Denver, they include all the different types of real estate, commercial, vacant land, et cetera. They're going to find their properties that are on the market way longer than the average days on the market. So going back from the agent standpoint, where we fit in with this is on the first step is. If you want to go after that stuff, you need to have a tool where the tool, if you want to expand your business into different areas for sale by owners, expired listings, whatever that may be, you have to have a different conversation. Otherwise, the conversation typically becomes about commodity pricing commissions. That's why you see so many of these companies popping up right. We'll do it for 1%, 2%, whatever it may be. You have to have a tool that really makes you stand out. And then the other part. And so first of all is how does Denver is there are properties that are not moving in that market. And, and that's where you help. On the other side of that coin, we do have agents. We just had an agent come to us in Florida and it's like outside Disneyland. Immensely hot. The question that she proposed to us was let's put this property on your site. We think it's 300, I'm going from memory. So these numbers are rough. 300. But what we want to do is we want to put a list price on it of 3 25 and we'll have an opening of 300. So they thought it was worth 300, but put 3 25 on it. As our list price, we did an opening of 300 and we ended up getting bids on that property over 3 25. So obviously agents excited. Because they paid us 1% to do that at closing the sellers, thrilled to death with that agent because of the extra, additional value they created in the marketplace. So some agents may say, well, I'm just going to do that myself and let it run up. And they certainly can, but some agents want to provide the, the marketing that goes around that and the databased information that we have in their desks. So whenever somebody does a property with us, they have a dashboard. It shows all the URLs that are coming into our site. The locations of the URLs coming into our site and how that activity is being generated, not just locally, but pretty much regionally and sometimes globally, depending on the property. Yeah. I mean, I work, I get to work with a lot of agents one-on-one and as well as broker broker owners and the, the thing that I just keep leaning into now is, you know, making these data back decisions you know, especially in Denver, Denver has seen and again, you know, I'm not as, as internationally versed on real estate markets, but just watching what's happened here. And this can be Denver. I mean, if you look at Idaho, Idaho has seen, you know, pretty big migration recently. But you look at those markets too for the past several years. And, and I feel like, you know, the demand is. That is absolutely undeniable and that demand still exists. But the supply is so low right now. That kind of just going, going back to what you said when those agents are having those conversations, it's like, you know, there's five agents fighting over every single listing. You know, I think I saw something where there's like 300,000 homes for sale. 1.5 million agents in the country. As you know, it's five to one, you have to, you have to figure out, you know, how to stand out. So, so when you're talking about like the kind of Realty hive as a marketing vehicle, what more are y'all doing outside of just listing that on the site and what does that conversation kind of like when you're talking with that agents about how you're gonna, how you're going to go from 300 to 3 25 and, and be able to kind of set that expectation and manage it for them. Yeah. There's, there's a lot in what you just said there. And the. The first thing is how we market the property. So in, when I went, when I said before, you know, sometimes there's very little differences, right? I, there there's a philosophy fee we have about, first of all, changing the plane. And, and I want to come to that after I tell you about the marketing. So in the marketing, what we're doing is we're looking at this property and our mark. We are very good, very good at attracting what we call direct views. I don't care about impressions. I want direct views. And what a direct view is, someone clicked on an ad and came to a site. And by the way, when that get to our site, it features the agent, the listing agent, not five other agents. It features you. It's your phone number? It's your email address? Your listing, your lead, right? We're out PR we spend our money up front. To market this property now, depending on what the asset is, will depend on what we do with it. A buyers, a first time buyers move, you know, is it a condo? Is it a gas station? Because we do everything. Commercial vacant, land, everything. So our marketing team. We'll create that marketing that goes out to those people. Now agents can hire a marketing company to run social media ads, digital display ads, et cetera. Okay. The problem with that is, is it will get activity, but we've run tests. Side-by-side comparisons to some of these companies that are out there that just do advertising. And our advertising is tenfold to 20 fold, better meaning direct views. Okay. Now why is that? It's because of two things. It's because a lot of those take a really small radius scope and run an ad. And that ad is really as much about that real estate agent as it is the property buyers. As much as we don't like to admit this don't necessarily care. About that listing agent, as much as they do wanting to know about the house. So we feature the house, we feature the aspects of the house, why we think people are going to buy that. And then we run a much larger campaign. Now, when we do that, we get a lot of influx into our site. Right now we're at about 160,000 unique visits a month right now from buyers coming into our. And that's continually growing and that's on a defined group of properties that we're promoting underneath the time limited event. So if, if the first thing is we, we market and we know how to do it, but it's great. We say that, but we prove it. And what I mean by that is that's where the dashboard comes in. The dashboard shows every seller and agent where the activities coming in. What are the impressions, even though we don't really necessarily care about that. Most importantly, what are the direct views? What are the top cities that are coming in to look at your property? What are the top countries? Where are they coming from? All of that is shown because that be when I was selling a lot of real estate one of the things that was very key was the ability to prove what you say. Right. It's easy to boast about everything you can do. My pictures are better. My signs better, whatever it is, but. And when you do that, you create incredible amounts of loyalty and you're you have kind of this swagger of look, when I, when I say I'm going to do it, I'm going to do it and you can hold me accountable to the fi you can hold me accountable for this. And what it does is it really creates this un-level level playing field. And one of the, one of the things that in this, this is this is a number of years ago, but I was in a a city of 110,000. And I think on that when I was number three, I sold 386 properties. I did that one by one, every one of them. So every listing presentation, every offer presentation, I had people that showed houses for me, but I did all the listings and. What would I always want it to do is create what's called an, I called it an unlevel playing field. See if I go out and use, you mentioned five agents competing for a listing, right? If I do that and I go out and compete with those five agents, I'm playing on their playing field. In other words, the rules of the game are all pretty much the same. I come in and now I have to either do something better or I have to do something. To win over that listing. Now, of course, there's people that are going to pick people because they like them, et cetera, or their family members or whatever. But once you move past family members and friends, you got to create an unlevel playing field really want to grow your business from I'm going to do 20 transactions. Two, I'm going to do 200. I'm going to do 350 transactions. You have to create a new playing field. And the reason for that playing field is when you go out and compete with those five agents, the other four agents now got to play by your rules because you've created an entirely different game. So my whole career in real estate was about creating the unplanned unlevel playing field. And that's exactly what we're doing with real jive in cash. It's an unlevel playing field that the agents that utilize our system have a tool they can use anywhere they want whenever they want, even if they don't use us. I always say, utilize us, even if you don't use us. And what that means is when you go on the listing presentation, you can say, look, I've got this international marketing firm and I'm hooked up with them and I'm certified as one of their agents. And here's the deal. I believe plan a is going to work. I fully believe we're going to pull it off, but if it doesn't, I want you to know I'm an agent with options and solutions, and I have a plan B and here's what it is. Now. If I'm a seller sitting there, I'm thinking, okay, this person's really got a plan here. They're not just going to throw me in the MLS. They're not just gonna throw a sign up. And then and you know, hopefully my house sells in a week because the market's great. So the other last thing I want to say about that, what you said about the market is You know, I've been doing this a very long time. This market is not going to last. It is going to change. It is going to go back to a normal market. It always does. I've seen this three times in my career. This is the Mo this is the craziest I've ever seen it, but it always reverts back to a normal market. It has to level out. Yeah, it has to, and in a normal market that what we do even becomes more price. So, so then I'll, I'll, I'll pose a, maybe a, a more forward-thinking question here. If, if Realty, hive, and, you know, the, let's say that's, you know, there are many unlevel playing fields, right? Like the, I think there are a lot of ways where agents can set themselves apart. I think if you took any crop of five agents, there are fundamentals fundamentals of marketing for every single agent. You know, I'm a big advocate for, you know, content creation get behind that video. And to me, those seem like kind of the baseline things now, right? 10, 12 years ago, you know, the agent that was adopting video first really stood out, made a big splash. You know, a gentleman out in California, a guy named Bicol comes to mind because he's really, you know, really kind of early adopted, you know, some of those kind of unlevel playing field minds. Where do you see, you know, like the, the unlevel playing field of five years from now you know, it might not even exist right now, but you know, let's say, you know, Realty, hive becomes more of that baseline and more agents are on board, you know, I think. Again, real estate is always right for innovation. That's one of my favorite things about this industry is that you can always change it just like you said, make the planes deal that unlevel, if everyone else is serving cookies, serve ice cream, whatever you're going to do, you know, you can innovate there. So I guess I'm kind of curious with, with your experience and knowledge and, you know, kind of, you know, talking with so many agents, where are you looking five years down the road, or where do you kind of see without giving too much away? You know, and 100 business model what, what is that unlevel playing field looking like, and, and how are we adopting it and how can agents start to plan ahead for that to, to really plan their success down the road, rather than living just in the moment right now. Yeah. And, and, and that, that is key because. We're so also busy. I mean, this one, the one thing about this business is there is always something to do, right? There's always this new widget, there's always this, this new shiny thing that people start jumping on the bandwagon. And you know, you see it in social media, you see it in a clubhouse and some of this stuff that like it explodes and then it kind of calms down and. If I was going to say anything, I think it's, it's the test of time stuff that always. Kind of rules the day. There's going to be things that come up that people will, you know, gravitate towards. Let's just say some new social media thing or, you know, celebrity endorsements and all this kind of stuff that you see out there. It's, it's a little flash in the pan. Just about the time that you kind of get control of it, the game changes. So, you know, clubhouse is a great example. I mean, I've never seen anything, so work up about that. And really it's almost like it's non-existent and, and I'll tell ya, I'll tell you are, this is another one of our philosophies is in this, we'll answer that question in kind of a broad sense, but yeah. The one thing that I do not like, and I worked very hard with my team to make sure it does not happen is I don't believe in the hustle. And what I mean about that is the hustle always gets exposed. Right? So when you're out doing whatever you're doing and, you know, make sure you're not over emphasizing your numbers and you're not doing some little hustley trick to get people to work with you. You're going to win in the long-term everyone. I don't know anyone that likes to be hustled. I don't want anyone, but we all are every day, every ad you see everything that happens. It's like, there's an angle to it. And somebody in some marketing department sat down and says, oh, we got the angle and we know how we're going to get them. Right. It's that to me is like, that always stands the test of time, do real stuff. Do real stuff, give re like you said, content that I don't see content going away because it's, it's a decision-making you know, enforcement, it's a, decision-making a law almost where good content helps you make a good decision. Why is that important? Because that decision affects me and my family. I want to make a good decision when I do something, content helps do that. As long as the content is not happen. Because if it's a hustle, it gets exposed and you're toast. Now you got to start over. So if I was to say anything, I think we're going to see more of that. I think we're going to see more real stuff. Like not, when you go into a listing presentation, say, oh, well, we're going to put you in the MLS and we're going to do social media. Okay. Tell me what you're going to do in social media. What does that mean? What does that mean? Oh, we're going to advertise your property. Okay, great. Tell me what that means. Right. So I also think the other thing that's going to happen that probably is not going to be very popular is popular with agents is I do think that the listing commission is going to start getting dissected. And what I mean by that is that. And it's happening everywhere. So it's only a matter of time before it's going to happen in real estate. And what I mean by that is that that conversation of we're going to market your property. Okay. Well, what does that mean? How much are you spending on my marketing eventually, now it's not going to happen today because the market's too. Right. But one of the market gets more normal when people are willing to pay more, to get that expert, help and expertise. I think there's going to start to be processes that the consumers are going to learn that they have control over the marketing. They have control over how that you you're the expert. Tell me what I should do now. Tell me how you're going to do it. And what's that cost. So I do think that's coming. I can see it already in some roundabout ways. But I think somebody that really gets that figured out is gonna have a major stake in the real estate industry for lists. Yeah. I want to jump back to something. You, you made a great statement about like the flash in the pan, right? Like the whatever. And it's funny before you even said it in my head, I'm like, well, clubhouse is the clearest example of this because the second I heard about clubhouse, I downloaded it. And I, I, you know, I log in and I'm getting invited to a hundred different rooms, which are a hundred different conversations and pretty much within a week, I was like, yeah, I'm good. Like I'm, I'm, I'm, I'm going to pass on. On this on this hot buzz item for the moment. But it also kind of had me thinking about how whether by, you know, whether intended or not buyers and sellers have more education, I think, into the both home buying and home selling process now. And I really like what you said, like where they're going to be dissecting. You know, that listing commission, like what, what is a real estate agent actually doing to, to maximize, you know, the sale price or to give the lowest price for their buyer? How are they really, you know, really working their expertise. And, and I wonder how that's going to be shifting in the next few years with home buyers and sellers. Cool, thanks to the, the, the big box, you know, brokerages and the, and the big box real estate companies who have flooded real estate content. You know, Zillow is, is a household name, open door Redfin, like there, these are all companies that are now competing in the same marketing and advertising spaces, you know, they're right up there next to Nike in that. And I think because of that we, the, the, the, the community of buyers and sellers have kind of been forced to say, all right, well, what is this all about? What is, what is real estate? And, and I think, you know, I just wonder how it will normalize, like you said, in the, in the next year or two or three years and what the future is really gonna hold there. I guess I don't really have a question. I'm just kinda curious, like what your thoughts are on, on what that, that education element is providing buyers and sellers now. Yeah, well, it's, you know, it's, like I said, I think it's becoming a law right. In, in, in your decision-making that's the way I think of it. And it's really a, I think it's great. Number one. I I'm a little. You know, because I've been a paying dues member, real estate person for a very long time. I'm very disappointed that our leadership didn't take more of an active role of the future. And let, not that they could have stopped it, but been more aggressive to own it as opposed to sell it. And but you know, that's, I'm not running for anything. So it's, that's not my, my thing is just my opinion. So it's really, it's, it's almost like, you know, agents will complain about all this stuff that's happening about what you just talked about, but I have to tell you it's our own fault. That had happened because we should have been the ones doing all that our, our, our you know, dues paid should have gone towards that stuff. It should have, we should have built that ourselves. And there are agents certainly doing a very good job, I think because of the big players. And when they're like, you're saying they're compared to Nike, they have to take a world big approach. And I'm world meaning Zillow in the United States. They have to take a large approach where the agent can compete with that as hyper-local, because that's one thing that's never also going to change. And that's why when we do work and consumers come to us, we work with local agents because they have the local knowledge, they know the local little rules, they know the little nuances of that market. And we need that in the transaction. Not only we do, but the consumer does. So in, in one aspect, I think the way you can win at that. And you're maybe you're a little bit of an unlevel playing field is to own your hyper-local marketing. You know, your neighborhood, your school district, whatever it may be that you're working in, you have to be the expert at it because that would take a long time for Zillow to do. Yeah. Yeah. I mean, I think, you know, I have a background in journalism and when, when the conversation comes up about any sort of national headline, you know, the first place that I will always run to is, you know, what are the headlines in your local paper? And I think that applies very, you know, one-to-one to real estate. You might not be the agent, you know, the, the, the Ryan ser haunts. The, the, you know, selling sunset on Netflix, like that's a completely different world, but when you own that, you know, any sort of marketing you're doing in your local market, like that's what you really lean lean into. Again, like they're real estate agents. And I, and I believe this both because I've worked in this industry and I've seen it just happen. But real estate agents that know their market are indisposable like, you cannot replace them because they know how everything works. I mean, from public transportation to school systems, to, to bus schedules, to postal schedules, like all of these, these things. We eventually, you know, as movers as people moving to new places, we have to learn that that information is so valuable. And so I really just liked what you said like that hyper local market. That is the, that, that, that to me is a a great key word. I'm gonna be holding on to that one. So thank you. Wait. Yeah. And, and it's that's, if you go back to the dissection of. The listing and unlevel plank, that's where you stand out then? That, that is. You know, your, your name, your, your ability to really stand out in that marketplace, but then, you know, have a bunch of great tools. And I'm not saying that because a Realty I'm saying that because whatever it is, whatever it is that you believe in that, you know, can help your sellers get more buyers to their property. That's key. And here's the other thing. The time to work on that stuff is now it's not. When you need it, that's key. And you know, it's easy because, oh, it's busy and you know, houses are selling so fast. And I got to show 40 houses to sell one because I can't get my offers accepted all of that. There are lessons in, you could be the top agent at getting your offers. In your community, whatever that process is for you and tout that in a marketing, you know, typical agents, you have to show you 14 houses before you get one minus six, whatever that is, I've always done, stuff like that. You have to be able to prove it. It can't be hostile. But that's where marketing is really effective. Marketing is really effective when you're filling the need of frustrated people. That's what Realty hive actually does. We feel the need of frustrated people. My house has been on the market. It's a great market. Why is it not selling? You know, it's, you know, unfortunately as agents we get blamed for that, you know, well, we, my agent, well, no, it's probably not your agent. It might be the marketing. It might be the way the property is being presented. It may be, you have to open it up to more available buyers to see what the value of your property really is a time limited event as an example, but that that's not that. Your, your job is that agent is to have as many of those tools in your toolbox. There used to be a big thing, right? This is the I'm going back a bunch of years now when I was on panels and stuff, and it used to be, they'd go down the row and they would say, okay, what's your list to sale ratio? What's your list of cell? And I was amazed that people would say, well, 50%, 60%. And I was like, mine is 90. And the reason it's 90 is because I don't take a bunch of them. Right. What, what, what we're doing here is we're creating that also that piece of how, if I do have some and I am in that 50 or 60%, how do I get it up? How do I raise that percentage? That was another philosophy that we've always had is our job is to help raise that percentage for you. Yeah, we're coming just up on time. We do like to ask all of our yes. One final question. And, and that question is, you know, looking back on your experience I think, you know, you said about, about 30 plus years in the space. With, you know, starting companies and selling companies what would be you can take a minute to think about it, but what would be something that you would change about the real estate industry? If you could change one thing, what would that, what would that thing be? I know, well, I will tell you, cause I know it. Pops in my head frequently is an, I was probably, you know, certainly one of the you know, personal promotion, crazy people in the industry very early on. And if I was to change anything, it would be to make sure we all realize that this industry is not about us. We're here to help. We're here to be the specialist. We're here to help them when they, you know, in a sense need real estate surgery. And we have to be very, very, very good at it. And The, the it's not about us. It is about the, the consumers, the clients, the customers is about them first. And I think, you know, most people, that's an easy thing and everybody would go, oh yeah, of course it is. But if you just look out in your industry and you look at what's happening in your local market, that doesn't happen all that often as it should. And I would really like to see that change. I would like to see this industry. A little bit more diligent on being able to make sure that the seller or the consumer is in control and that we're proving what we do to them. And, and, and, and again, it's a great market. You don't have to prove a damn thing because you put the house on the market itself as gets normal. Again, I that's what I hope for more than anything. Yeah. Great. That's a great answer. Well, you've been listening to brokerage insider the podcast where we interview the leaders in real estate and technology on your host Britt Chester director of client success at Tribus. And today we were joined by way team McColey wave. Thanks for joining us. Thank you. I appreciate it. Be sure to subscribe to brokerage insider or wherever you get your podcasts and tune in every Monday for a new episode, y'all have a great week.