KGCI: Real Estate on Air - How to Find Hidden Real Estate Listings in the Probate Niche

Episode Date: March 21, 2026

Summary:This episode provides a tactical deep-dive into the lucrative niche of probate real estate. A probate expert explains the process and reveals a step-by-step strategy for agents to gen...erate a consistent flow of motivated seller leads. You will learn how to effectively network with probate attorneys to become their go-to agent and uncover opportunities to list both residential and commercial properties. This is a must-listen for any agent looking to add a powerful, low-competition specialty to their business.

Transcript
Discussion (0)
Starting point is 00:00:00 It'll begin when you hit the camera. You know, welcome to Primate Weekly. And this is one of those recordings where I know the president of interview very well. We've worked together over four or five years or so. He's been an incredible, valuable mentor to me as well as the company involved. But more importantly, help me make a lot more money as I bridged from purely residential. At the time, I knew Sean he was in growth at XP Realty, which was residential. We launched commercial, and today over half my income, well over half, is non-residential thanks to using probate and EXP's tools and Sean's guidance.
Starting point is 00:00:39 So, Sean, first of all, on a personal thank you for helping me on my path on building my business. It's wonderful to be here, Bill, and you're one of my favorite people in the company. So I always say people don't join companies. They join people. And you're Southern Californian like myself. So we tend to spend a lot more time together than others. That's funny. I'm one of my favorite people, too.
Starting point is 00:01:01 So I said to you have that in common. So, again, when I met you, you were a vice president for growth for residential. And then at some point in the last year or two, you became that position, the VP of growth for EXP commercial. So how long have you been that position? And what does that entail? So in 2021, and I wanted to come three years before that, but in terms. 2021 at May I got 32,538 advisors when I came here. I spent four years, three years, three, and three quarters years at EXP residential. I built it from 32,500 to 87,000. That's when Leo Perea,
Starting point is 00:01:48 our CEO asked if I move over to EXP commercial and do the growth building there. commercial had the foundation, but they needed the massive growth. And some changes had to happen in order to grow as fast as I or anybody else wanted it. So moved over to EXP commercial in May of 2024. I've been here for one complete year. So there we go. And I discovered that because I went to the XP Con and saw you there and you just started that. So let's go back to the beginning.
Starting point is 00:02:20 You have, you, and when I met you at XP Realty at the time, you have tremendous track record success of helping real estate agents build their business. Primarily in Southern California, you were in San Diego market area. But you've built, you initially, or the first part of your journey in the business, was helping, supporting, coaching, mentoring, residential agents growing the business. So you're familiar with the probate space in particular. Oh, absolutely. You know, my first, I've always been with the number one company.
Starting point is 00:02:50 Why would you join number two? Nobody goes into the NFL draft saying, I hope number five gets me. So I've always been with the number one company, but another thing I realized right off the bat as soon as I legally could was becoming a broker and understanding all aspects of real estate. Not just trust and probate, but I wanted to understand the REO, the short sale. I wanted to understand every aspect of real estate. So I really focused on, let's just call it, alternative dispositions, not your average transition for commercial. or residential real estate. And I found that was my niche, just like you.
Starting point is 00:03:31 You are probate, trust. That's your niche. You want to get bigger, get smaller. So that's where we're at. So, you know, like many agents, I started there because I came across a probate once in a while and probably initially it scared me, or I went to my broker,
Starting point is 00:03:45 and I didn't feel confident, didn't get it. And then I got one, and I realized that unlike what I had been trained by another system, which was to avoid problems, I found that by attacking problems and solving them, I became a resource to my customers. Talk a little bit about the mindset of the agency you've seen that have got over the obstacles of probate and helped them build a business that way. Absolutely. And the same with me. We had transitioned into the downturn, the mortgage debacle in 2006-7, and I wanted to be the key resource.
Starting point is 00:04:23 I started out as short sales like everybody else negotiating short sales with bank negotiators and asset managers. And then finally moved into being one of the top REO or real estate owned disposition agents in Southern California. And when they said, oh, those are like five people get everything. We didn't like to yell that. But that was the truth. Until you messed up, you were their go-to. And I had some rather large accounts. So I started focusing just on asset disposition for corporations and banks.
Starting point is 00:04:57 There is a problem in that. You're not building a lifetime client. The bank, when it's all over and the bank, you know, stop selling REOs and stops doing pre-foreclosures, you're kind of out on your own. You did not build a client for life. You're not, I know that you've probably done probate for generations of people. And that doesn't happen with the bank. That asset manager, he got fired or left five years ago. There's no continued business.
Starting point is 00:05:28 So I realized very quickly that I needed to transition back into the world pretty quickly. One of the things that, you know, we have two tiers of agents that follow me here. One is those who want to be full-time probate, which is great. That's what I do. And the other ones who have a successful practice and want to add the probate business that comes their way or use probate as one leg of the stool in their business. So talk a little bit about agents who want to add some probate business to their business as a real estate agent.
Starting point is 00:05:59 In this age of content creation, it seems to me that you can either be the expert or get educated, and if you're getting educated, share that with their customers. That almost becomes as attractive as being the expert, I think. Oh, absolutely. The last question I asked chat GPT, you know, 4.4. five was is there a program out there that can identify if it's AI content? I was so sick of looking at photos and articles that just easily identifiable as AI content. And because of that, you can't determine if the person behind that content is trustworthy.
Starting point is 00:06:43 Are they any good as an agent or an attorney? because the AI created the content. So when I'm looking at my probate and trust business, I'm constantly forgetting and needing to remember. It's not so much the families. The families can recommend when it comes to probate, but it's the attorneys. It's the attorneys and the law firms
Starting point is 00:07:08 that are assigning those asset dispositions and making friends with the family doesn't necessarily mean that's what the executor is going to choose as a real estate agent. Well, as a business, personally, I've never chased families. I've always, I mean, I have them to come to me, and I feel like I'm a great resource for them, but I've made my target always attorneys, fiduciaries, other vendors that can give me regular business. Maybe their standards are even higher because they know more than a family does.
Starting point is 00:07:40 It's harder to fool, yet harder for competitors to beat me because you better be better than me if you're going to go after them. And so the attorneys have really been my source. Now, transitioning a little bit the topic, when you talk about commercial, I imagine commercial business, you're talking also to some sort of referral sources more regularly, whether wealth managers or family offices
Starting point is 00:07:59 or attorneys or accountants. So the real estate agencies you see that are successful in the non-residential space, what are the most common referral sources that they get business from, and how do they attack those? Financing sources, lenders, REITs, those are your keys to foreclosures. Right now, and this is the scary, in the next six to nine months,
Starting point is 00:08:27 $1.8 trillion of commercial loans are going to come due. The bank has two options there. They can take back and liquidate the property, or they can refinance it at a lower rate so that the person can afford it. Because honestly, if there was a better refinancing rate, they would have already done it. So they're really limited in what they can do. I think they're going to be holding a lot of upside down notes for a while
Starting point is 00:08:57 because they don't want the commercial industry to go through the toilet, largely because of large office space that's no longer being used because people decided to at least telecommute part of their jobs. And antiquated industrial space. new industrial sells phenomenally and old industrial is you know no internet no high no high tension power cables no there there's a esg which is environmental uh concerns you've got to look at all that because old industrial sits and new industrial sells right away so getting with the reits the asset managers asset managers and the investors is key uh we have a a
Starting point is 00:09:42 really great agent in La Habra, California. Whoa, whoa, whoa, my, that's where I grew up. I know. And Luis, Luis, he focuses on pre-foreclosure. So he goes to these, he sees the loans coming due. He goes to the, the person who's holding the note and says, let's see if we can get the money required to make this a win-win transaction. You know, so he'll, he'll take a pre-foreclosure and market it in a way that he gets, gets the highest and best offer to see if the investor is willing to take that rather than refinancing the note. Wow.
Starting point is 00:10:19 Well, Haber, California. Okay, who would have thought? So just real quick, not that's related to a call at all, but just because I love to hear the answer. EXP Realty, the largest real estate company by transactions in the United States, how much office space do we own? How many office buildings do we own? And how many millions of square feet do we own for our corporate offices and operations? I get what is I think one square foot
Starting point is 00:10:46 is our is our is probably technically it might be a bigger box we could be two square feet of
Starting point is 00:10:55 a PO box in Belmont watching a rim rip so we we have EXP as a corporation does not have any physical office space
Starting point is 00:11:05 we license physical office space but we don't have any that doesn't mean our advisors and agents don't have significant office space. If you want to negate taxes in California, I think investing in commercial real estate is an excellent way to write off your California taxes.
Starting point is 00:11:24 Well, personally, I have space in Beverly Hills, California, the branch manager there, but the company doesn't have any space. When you talk about excess office space, it's just fascinating compared to other real estate companies. We have none as a corporate entity. I just think it's a fun thing to talk about. So let's go back now to, again, using your hat from when you were coaching mostly residential agents. I'm sure at that time you had a huge team in San Diego.
Starting point is 00:11:48 Did you also do some commercial? I know at that time the company had a division. Did you allow agents to be resimercial? Do they have to switch over? How did you handle it? And how did you help the agent make the first deal? Because there's a little bit of fear. Like, gee, my customer wants me to do it, but I've never done an office building before.
Starting point is 00:12:06 How do I get involved with that? Well, traditional commercial, you have a junior or a brand new, brand new advisor comes into a commercial real estate firm. And they partner up with a junior or senior or team. And they're taught over a period of years, usually two or three years before you even move up to being able to run your own deal. So there's a large mentorship period in there. The larger companies tend to give you your prospects and your leads, but they're a large mentorship period in there. they're taking 50, 60% from you. So, EXP,
Starting point is 00:12:43 EXP commercial has a lot of experienced independent entrepreneurial brokers, but I still believe in the same thing. You're, you're brand new and this is my last brokerage. You need to work with the team. You can't commercial, you just cannot walk in and go, I'm an expert on retail tenants. I'm an expert in industrial. I can do blue collar business brokering. There's nothing in the real estate training that you took to get your license
Starting point is 00:13:14 that would indicate even where to begin in all of that. And you know as well as I do, real estate classes to get licensed in the state have absolutely nothing to do with real estate business. They're legally, everything in it is legal protections for the consumer. real estate in commercial it's much different analyzed analyzing taxes city codes development attending city council meetings i think the hardest thing in real in commercial compared to residential real estate is in residential you have a 30 60 90 day deal cycle and in commercial it's six to
Starting point is 00:13:57 18 months yeah so you're not going to get paid right away which means if you're going into this I hope you have a pretty good, you know, a pretty good savings account, or at least you're working in a niche that's going to pay you a lot quicker. Yeah, that is a good point. Personally, as I moved into commercial, my pay cycle, and probates already pretty long to begin with as a general rule, because you get into some litigation and all of a sudden what could have been a 90s, so it becomes a two-year process. But you build up, and you have to keep working on all those. and same more so with the non-residential business. Everything takes a lot longer.
Starting point is 00:14:36 The agents aren't as motivated or as quick, and their customers aren't. It's just a different business. And so it required me really to set up some resources financially. I'd set some money aside as well as a line of credit to cover the longer time period that's helped me grow my business. I think that's really important. So we offered, if I go back in time, when I got the first business that was not residential, In that case, it was just some vacant lots through a probate.
Starting point is 00:15:04 And the customer said, I want you to handle it. You know, if you need to partner with a friend, partner with a friend, but I want you to be the person I talk to. I don't want you to refer me to somebody else. And I don't know anybody else, Bill, I want you to handle it. So at the time, when we were launching AXB commercial, we had a phenomenal set of training classes that I took that really gave me a lot of insight into the product and kind of the ways of the business of the product.
Starting point is 00:15:27 And so talk a little bit about the training that's available for agents. who are considering maybe they're not ready to make a decision to join the XP commercial, but they're looking to it, they want to build towards that, or they want to just want to be better at their current business, what's offered now that helps them be more productive? So when you're coming into EXP, and you're brand new, we have the EXP Academy, which is a month-long course that covers a lot of the basics. We're switching over our new head of director of brokerage operations per commercial,
Starting point is 00:16:00 John LaTerno is moving us to a video on demand LMS system that will cover everything. It'll even have pieces in there on Bill Gross and probate. So we're, yeah, we're able to put everything into the training module because you never know what's going to stick. Somebody came to me and said, you know, just mentioned development. I was new in the business like two years and I went, tell me more. And before you knew it, I was working on large multi-unit development. And it was much more, you know, much more suited to my style.
Starting point is 00:16:34 More analytical, a lot more planning, but the payouts at the end, I like the big payouts. And you can get in on the getting paid from the development and getting paid for the sale of the, for the sale of the units. Now, for probate, it's a little different. In probate, I had a family call me and say, I know you, I trust you. I'm not really duplicitous. I give my business to the pros in the area. And they said, I have five buildings. Their father recently passed.
Starting point is 00:17:08 And as the executor of the trust, we want to liquidate all five buildings. So I think you, being the expert in your field is what's key. And when you're new, you're not the expert in the field. When you start out, you use the statistics of your brokerage or the statistics of your team until you become the statistic. So if they're thinking of getting their probate, I suggest that they partner up or co-sponsor with Bill Gross, and then they can learn probate.
Starting point is 00:17:36 They can use Bill's numbers, and Bill can help them. But commercial is not something you can just jump into. My last commercial contract was 150 pages long, written by an attorney in language, almost specifically designed to make it more difficult for you. party of the first part you know it's funny you said because i've been a probate's uh and i typically have not dealt with properties anywhere near that big uh you know more my experience is the entrepreneur had a business he had an extra he had an industrial building maybe and a couple lots
Starting point is 00:18:15 maybe and so we're sung one of the lots for about twenty thousand dollars and the attorney who handled this enormous office building was retained to write the contract for this $200,000 a lot and it was like it was 150 pages is one of the largest firms in LA and I just had my customer look the guy who wrote this I'm sure is charging tens of thousands of dollars for this contract that he's redid from his prior transaction now you can hire a trinity to do the same thing or we can just tell him sorry it's too complicated we need to use the CRO for and the attorney was on the phone complained to me and I just said I'm not in the business of reviewing the
Starting point is 00:18:50 document like I probably could you know I I know enough about documents, but I'm not an attorney, and I'm also, don't have the time to go through all that. And so I think that's part of it about commercial is, sometimes you can, as a listing agent, you can't have forced the forms a little bit, and sometimes you can't. And I know in addition to car forms,
Starting point is 00:19:11 California Association of Relater forms, we also have air forms, which are more commonly using commercial properties, and I use them as well. I prefer the car forms just because I'm more familiar with them. Talk a bit about the form. What percentage of the transactions you do are custom? What percentage are CAR in California? What percentage are AIR or some other organization? Well, yeah, there's AIR commercial real estate forms. And we do have AIR as one of our affiliated partners. So you can go to AIR and download a form, purchase and sale agreement or an LOI or offer memorandum for any state.
Starting point is 00:19:49 What we're doing because we're getting larger, you know, our growth, our growth trajectory is we're now doing our own templates, having our attorney create a template that's legally compliant. We found it's called redlining. If you don't know anything about commercial real estate, I send Bill an offer, you know, I send Bill a purchase and sale agreement. He crosses out a whole bunch of stuff and adds a whole bunch of stuff and sends it back to me. He read lines and sends it back to me. Usually by the time you've, you know, by the time you've consummated the deal on your, your vacant strip mall, the contract doesn't look anything like it looked at the start. Everybody's throwing in their pet pet peeves. It's a lot like a, it's a lot like a Senate bill.
Starting point is 00:20:38 It goes back before. Yeah, probably for a lot longer. So we're now creating our own forms, especially in states that required specialization, believe it or not, like Montana and Utah, they require very specialized forms. We will probably have our own forms in all 50 states at some point this year, where we can give you the template.
Starting point is 00:21:08 But again, you're not the one reviewing it for legal compliance. A lot of our agents, employ an attorney to take a look at some of these larger ones. I mean, you're going on a $40 million software company with building. You don't really want to mess that one up. So a lot of them will have an attorney take a look at it, or the buyer or seller representative will have an attorney that takes a look at it for compliance. Our brokers will make sure it's compliant for real estate law. But did you miss something? Was there some equipment that you wanted in the deal? Was Is there an easement you were unaware of that affects your desirability?
Starting point is 00:21:49 So it's a different world. It's a lot, you know, a lot more attorneys are involved in commercial real estate. That's why it's a six to 18 months sales cycle. And, you know, commercial, commercial real estate compared to residential, residential, they boil it, bowled it down to in your state, you know, like 32-page contract. I remember in 2004 when it was three pages in California. California, but they've standardized it because there are so many transactions taking place. Right.
Starting point is 00:22:23 The best contract in California, at least, is one that has absolutely no input from the agent or buyer on it. It's the blankest contract possible, one that will protect you. Every time you add something, that's the gray area in a contract. You know, I do think a lot of realtors, you know, pooh the forms. Personally, as a practitioner, I think they're great. I feel like I'm a ninja, and that's my sword and knives. And you're right, there's a lot of pages there, but the more I can use the template and just put in the data, the more somebody else has thought through, I don't have to. And so oftentimes I'll say to agents, you know, you don't need to put the property as is.
Starting point is 00:23:04 It's already in the contract as is. and similar, you know, you're just adding potential confusion. I even argue the attorneys, I'll say, I get you want to emphasize as is, but now this clause is in contradiction to the other as is, which is the one that holds, if you have a dispute, you're creating more confusion. So I do think the forms are very powerful,
Starting point is 00:23:26 but I think they're only powerful if you know them and use them properly, if you don't, then they're really kind of worthless. So that brings us back to kind of, again, the residential agent who's coming across an occasion, deal you know we have a license that allows us to do non-residential commercial we may have a brokerage that allows us I know at EXP they allow us though we also have very easy access to our brokers to get support and I have to admit
Starting point is 00:23:49 I've had my hand-held through almost every non-residential deal by our brokers they've done a great job supporting me but we have the ability legally to do that but the forms are different and the thing I always tell people is at least read the form and at least be familiar with the product and that's where either you're do on your own or you need to partner up our culture as a company is we partner up very easily whether be an expee agent who's experienced a commercial or it's an expe commercial agent who that's their focus or geographically focused other area that's kind of our culture talk a little about how expe has that culture and what you as an executive do to help maintain or grow that culture i i love the
Starting point is 00:24:28 clear separation of duties if you are a residential realtor Article 11 of the NER Code of Ethics specifically states that if you are not a competent professional in your area of expertise, say I was to take a warehouse building in DeVore, California, and I was not a competent individual in that specific product type, I am required by law, by the article, the Code of Ethics, Article 11, to disclose that. to my my prospect that I am not a professional in that product category. And if you're a residential real estate agent, you're not a, you're not a professional in any of the of the commercial stuff. You probably had very little exposure, not to mention all of you've seen the agency disclosure.
Starting point is 00:25:27 And it says exercise, you know, exercise reasonable skill in the performance of your duty. That's the first thing it says. And that's the first thing an agent who's going for a commission ignores. Oh, exercise reasonable skill. Yes. First of all, you're writing, you're writing a 40-unit, you know, multifamily complex on a residential real estate form. Oops. And you're thinking you're competent in the performance of your duty. So commercial does not belong to NAR. We do not belong to NAR. We do not, you know, we don't have the code of ethics. we have something we have something higher we have a legal system that actually deems that you are
Starting point is 00:26:11 a professional in your field of business if you don't it's it's really easy to sue people and you're usually dealing with corporations or or LLCs that that would rather take you to court to settle a dispute than try to work it out so residential at expe you are allowed to sell the occasional commercial property. I don't recommend it. A mistake missing an underground storage tank or missing an easement or not recognizing that your tenants have dubious leases and do different terms or step leases that may not pencil out to profitability for you. It can be tragic. I do know this. if they are a commercial real real estate agent at the expe, they refer out all of their residential business. I just referred one to a nice, a great agent, Ethan in Northern California.
Starting point is 00:27:16 He closed it. I think he sold it 36 hours. It was a luxury property. He sold it in 36 hours for $100,000 over asking price. And I got paid. And when I got the check, my wife goes, well, that it's not the whole check and I go you realize I had to do nothing. This came in the mail and I had actually forgotten it was even going. So I believe referrals are the highest possible return on your efforts. If I could be a referral only agent, wouldn't that be wonderful? Well, I do more and more referral. And I think, again, to waive the banner VXP, we have this referral network system
Starting point is 00:27:56 that really makes the distribution of referrals really simple in terms of getting paid and the documentation and all that. So the other thing again just to fly the banner one last time on the XP and I only say it's because it's been life-changing for me. I mean I have benefited from the the multi-level marketing aspect of the attraction system and it's a nice form of income. I've benefited from stock over the years of the closed deals and that's accumulated but more so just the blocking tackling of real estate has been the number one for me. We've just recently announced a new program that to me allows us to double the support for the
Starting point is 00:28:36 person who chooses to join us which is co-sponsorship and as I look at it I didn't do a lot of attracting as I might have I've made people who asked me I never follow up with because I didn't have the resources to help them with all the non-probate stuff all the the basic forms and systems and all that and but I did have the probate piece and now this gives me the chance to team up with a successful attraction group that can handle that and I can bolt on property and in commercial I think it's the same thing I have no ability to help somebody join I have a friend to join XP commercial originally he wasn't going to go commercial he went that way because he
Starting point is 00:29:12 insisted and he was lost and I was lost trying to direct him where to go but now we have this the opportunity for co-sponsorship which now this guy's he kind of came in after the deadline but he got snuck in and now he's getting some help it gives some really two people to help them talk a little bit about how co-sponsorship works in commercial and how you think that can be a catalyst to help you grow their business? I think it's the biggest thing that's happened at DXP. Co-sponsorship, especially for commercial, is amazing. We have people like Josh Smith, who has a podcast, GSD.
Starting point is 00:29:49 He's done the last time I counted, he had partnered 17 times with 10 different organizations. Josh has the systems, models, and checklists, but is he in San Diego, California? No. Is he in Bellevue, Washington? Is he in Diamond Bar? No. So he's smart enough to partner with a local top producer. He realizes he has the system, but does he have the local knowledge and the local support?
Starting point is 00:30:19 It doesn't mean it has to be local. I just did a co-sponsorship where the broken. was coming in, wanted, was best friends with a residential agent in Massachusetts. Best friends. He was a commercial advisor in Florida. They hooked him up with the local top Florida residential team, which was, it surprised me, because this team had so many commercial referrals. They said, you might as well be their inside commercial referral person. It doesn't matter if you're a residential agent or commercial advisor. If you run into somebody who's from a different discipline than you or a different area, this gives you the ability to partner with somebody
Starting point is 00:31:05 in that area or in that product specialty that can really help them. You can help. If I had anybody that was doing probate trust or in the Diamond Bar area, you would be my co-sponsor. I'd say I have the best of the best there. I am not. I'm willing to admit. I'm not. And the beauty of EXP's co-sponsorship is you get slid into the sponsorship tree to where everybody's making 100% of what they're supposed to make on that level. There's no 50-50 split. I think 100% is better than 50%. So it, it, somebody said the other day, ExP has silos. And I go, yeah, we are not a participation trophy company. You do not get paid for for the inability to excel or innovate.
Starting point is 00:31:55 I like the competition that goes on in this company where the best gets rewarded to be better and brings up everybody underneath them. Co-sponsorship was the missing piece, though. We have done hundreds and hundreds of co-sponsorships to this point. The agents have more retention. They're more productive and they're a lot happier.
Starting point is 00:32:18 We get our NPS scores are going up every single month. because of co-sponsorship. Yeah, and I think it really is a net ad to everybody, right? The track, whoever brought the agent in, didn't get cut at all. The co-sponsors additional revenue. Nothing comes out of the pocket of the agent related to this at all. But the agent joining us gets really two teams. It could be one geographical, one product, it could be commercial and probate.
Starting point is 00:32:43 There's a number of ways to mix it. I think we're all kind of finding the right formula. But the end of the day, it really is a big victory, I think, for all of us. I was just on a call before this one. with somebody who wanted to join me in probate, but joined a team, and then I was a co-sponsor, and so we had our coaching call. And I got to tell you, this is the first time,
Starting point is 00:33:02 because for me, in probate, it always starts with your database, all marketing does. And so I asked the question, have you been set up on your database yet? And on their team, they do that. Now, they use a different product called FollowBoss that run the XP one that's given for free. But for the reason, she's set up.
Starting point is 00:33:19 So we're now talking about importing into her database. We're not me holding her hand, getting it set up and walking through the process, because they do a great job of setting the agent up on technology, which I never really had enough staff to do that. And I don't really want to do that, but I can get her working on appropriate, but downloading all the attorneys she knows and all that kind of information. So it's a big, big game changer, I think. And I'm not sure who came up with the concept of corporate, but somebody should be congratulated. I don't know. We tried several different iterations of it. You know, we get pitched all the time on, hey, this company is doing this.
Starting point is 00:33:55 Maybe we should examine it. I mean, there was a long time ago where we're looking at the flat fee model. And when we sat down and looked at the numbers, that there were no flat fee companies that were actually profitable. We went, wow, I would have bet walking in here, Wood had some kind of flat fee model. Co-sponsorship, we tried a few different iterations. Glenn and Leo came up with this one. And honestly, we were in a room with, I think, 28 executives. And it's the punch holes in it time.
Starting point is 00:34:28 Because Leo has absolutely no problem. If you know Leo Perea, this is the one thing that you will absolutely know about him. He has no problem canceling something, even immediately after it's been instituted, if it's coming out the wrong way or the desired behavior ends up being wrong. So if at any point a negative aspect of this program came up and we could not rectify it, Leo would just go, yeah, we're done with this. If it's not profitable and it's not making people happy and we don't get the intended, the intended results that we're going for, I have no problem canceling it.
Starting point is 00:35:08 And I've heard him say that about several things. Are we going to continue to do that? And Leo just go, no, we're not doing that. anymore that did not work out as intended we we have no problem we are a innovator company his big statement that he says time and time again if you're not innovating you're losing if you're not willing to throw away everything you've created every three months you're not innovating because the speed of AI right now told you the last thing i looked up on is there a program that will spot AI content so i can ignore it
Starting point is 00:35:46 AI is progressing faster than we can find programs to identify it. I do think, you know, I mean, I've been saying, I quite a bit I use it my business every day. I do think that it creates a premium for authenticity, where the one thing they can't create is me. They can make something that looks like me, sounds like me, you know, has a video kind of like me, but what they can't do is really replace my heart and my knowledge and experience at a deep level. And I think for all of us in the business, that cries out why you have to be an expert. In my case, probate. I know people's case is commercial or your local geography.
Starting point is 00:36:25 If we really can hyper-focus on something, the AIs can knock out the 80% and the 20% of expertise will benefit from those AI tools and be more productive. At least that's how I see it for my business so far. Our marketing people, and if you know a lot of the big real estate coaches like John Sheppleck and our marketing team, have both identified that we're going the other direction for marketing, where we were going from the mailbox to the inbox to social media. Now social media is inundated because everybody can consistently deliver AI augmented social media posts. Social media is getting indated.
Starting point is 00:37:07 The email box is still full, is now going full circle to where the best, most authentic, and highest open rate and result is coming from the mailbox. If you got a handwritten letter in the mailbox, now that's considered special. Wow. Yeah. I mean, people send me, it's interesting. I have a podcast on reverse mortgages. So for whatever reason, people in that space create books.
Starting point is 00:37:34 And you get a book with a handwritten note. It's like, wow, this guy really, that was really nice, you know, very personal. And it's obviously handwritten. You know, they took the time to do it. So I do think you're right. The personal touches, I think, are really important. It can't be created as easily as the I-A stuff can be. Well, Sean, look, obviously you have tremendous breadth of experience in real estate, a tremendous resource.
Starting point is 00:37:57 Now, I also know you host some available public training classes on a regular basis. I know I've stumbled in a couple times to them. Talk a little about where you're available for somebody who wanted to learn more about you and see you online. Where are some of the things you're working on? We're starting again on the seventh. Summer is always fun in real estate. You would think real estates are entrepreneurs, they're self-employed. They work year-round and squeeze in a vacation sometime in the end of December.
Starting point is 00:38:24 But no, starting on July 7th, we will have commercial attraction lab. It will start out from the very beginning. You've never done attraction. And I will actually will be posting that in, in workplace, Slack, and social media, where to go to get that. We have a social media platform that wouldn't hold the number of people that wanted to come. We'll start out from, I don't know how to do attraction or even what the difference is between attraction and recruiting and the rules of the game, ethically, ethically and legally.
Starting point is 00:39:04 And then we're going to move into a huge 12 weeks of commercial. attraction and we're going to we're going to kick it off with the orientation and the rules defining your agent prospects social media and mass attraction strategies co-sponsorship and the power of partnership discovery calls presenting the model overcoming objections nurturing relationships onboarding which is huge leveraging local national and growth events building your personal attraction brand and then the mastermind with the top attractors in the industry,
Starting point is 00:39:44 the mastermind, and how to sustain your momentum. Because I have found going to as many events as you, you get about a five to seven day boost. We're like, I'm ready to go. And then you kind of go back into your old habits. You know, I always say, if you stretch a rubber band, you can hold it for a while,
Starting point is 00:40:04 but eventually it's going to go back to its original shape. So. Well, there's a lot going on. EXP commercial is the website. Sean is the vice president of growth. And I'm going to be on the call Monday at noon, Pacific Time, AXP attraction. And I think the thing about attraction, you know, it's not just recruiting a multi-level. If you're building a business quite naturally, there are the people you want to work with.
Starting point is 00:40:32 There's a way to do that XP without digging in their pocket to get paid, which is if they join the company and you bring them in, you get or if you co-sponsored them now you get paid and so that's where I think anybody building a business should look at that as an opportunity as well if we're gonna get more shine you can reach out to him growth at expcom is the center where he has an assistant who will book time with you if want to meet with him in person I just can't think enough for your time here today and like I said your your mentorship and support in my business growth has been fantastic and critical and on behalf of the company what you're doing we did
Starting point is 00:41:06 with us before you left expe reality and then now that that you're with the XP Realty's commercial division. What you're doing there is phenomenal. Thank you for all you do for the company as well. Thank you, Bill. You have a wonderful week. Fantastic. And again, for the rest of you, this is Probate Weekly.
Starting point is 00:41:19 We get together every week and talk about how to build your probate business. And as you see today, it's not just about getting data and cold calling. It's about building a business. One way I've done that is expand my product into commercial or non-residential and expand it by attraction. And Sean's been a key piece in that, if that can help you. If you continue the conversation, go to probateweekly.com with your Facebook group. about three or four thousand members there if you're looking for referrals you have an attorney or an
Starting point is 00:41:42 agent need outside of your area posted there or if you have questions we'll continue to have the conversation as always if i can help you like subscribe put a comment in here if you know some i should i should be interviewing put it in there as well as always make today your best day ever thank you so much

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