We're going to begin today's webinar. If you haven't already met our guest, Margie Lemons-Royal, oh my gosh, you have been living under a rock. She is.
So if you don't know, she is a keynote speaker. She sits on the board of the National Association of Realtors. She is a real estate coach, AI prompt specialist, and was, and I think you still are the host of the Drive with NAR podcast.
So everybody. give a warm welcome to Marky. Thank her for joining us in the chat.
We love seeing big thank yous. Thank you, Marky, for joining us and teaching us about AI and how we can implement this with buyers. Yeah, it's a very interesting and fun time in the world of real estate. This is my jam. It's been my jam now.
If we go back to 2004, in 2004, I made the decision that I would only focus on real estate. I was a licensed loan originator, one of the first in the state of Illinois, because we did not have a license mandate until 2004. So from 1999 to 2004, I was a loan originator. And then I sat down, looked at my business plan and wanted to spend time with my child. And I'm like, in order for me to earn the amount of money I want to earn per my business plan, I'm going to have to originate this amount of loans based on what I was charging, your basis points and all that. And I said, I had this real estate broker's license I haven't used.
I would actually earn more per transaction, right? And when I'm thinking about that, I had the license, hadn't used it. And the day that I went to the Chicago Association of Realtors, I realized the pre-license course did not teach us how to sell real estate. So I went and took the ABR course.
So I have been an ABR, ABRM ever since 2000. and four and start teaching the ABR class in 2006. So biorepresentation, how to navigate as a biorepresentative has been something that I've done successfully now for 20 years, actually teaching the curriculum for 18. Yeah, there's nobody more qualified. Maybe Lynn Madison, Adorna Carroll. It's only a few people now. It's only a few. But there's a couple of goats that, you know.
beat me back 15 to 20 years in the business. Talk the talk and walk the walk. You still have, you're, you're still an active agent.
You still have a team that you run that is very active in selling, as you said, 34% up year over year. So it's not that you're just, you know, a coach that says, you know, I walked out of the business 10 years ago and I'm still teaching, you know, old methods. You're like, no, I'm implementing these today.
This is what we are doing. And here's what you guys can do to grow. From the brokerage standpoint, I've been at the same brokerage now. It'll be seven years this year. Working with a friend of mine for over 20 years, Nick Liebert, and I'm our company's chief technology officer.
Because of the role in which I play in the prop tech space, next week I'll be the emcee of the pitch battle for the IOI Summit. And so for me, it's... You know, we still have to follow license law, the realtor code of ethics, but what's innovative and new that we can leverage today in order to stand out? And we're going to teach the audience a couple of things that maybe they haven't thought about. And more importantly, how to leverage artificial intelligence.
I love it. Let's dig in. Are you ready to dig in? Well, one, I want to welcome everyone for being here today.
Yes, the real estate market has made some shifts. Over the past week, some of this is still going to be relatively new to us, but today we're going to talk about employing AI and chat GPT to successfully implement biorepresentation agreements. And it's not just to implement a biorepresentation agreement.
I really want you to implement a biorepresentation agreement with an offer of compensation. I teach from the concept of seek first to understand. I do not believe there are any dumb questions.
And we do have the chat. open so you can type those questions into the chat. When I think about myself, I will tell you I'm following in my grandfather's footsteps.
My family owns Chicago's second oldest Black restaurant. Last Tuesday, the city of Chicago renamed part of 75th Street to the honorary James B. Lemons Way. I was actually inducted into the AVR Hall of Fame the year before my grandfather was inducted into the Barbecue Hall of Fame, I believe in biorepresentation.
And I've actually honed in and start focusing more one decade ago on the subject. When Adonna Carroll told me, she said, Marky, there will come a time in the future where you will not see an offer of compensation per the MLS. And she told us that when we became certified SRS instructors, due to her partnership with the Real Estate Business Institute. And so...
I believe in education, period. 64 real estate related licenses, designations and certifications, earned undergrad degree in hospitality management because I was born and raised in the restaurant business with a master's degree in business administration and successfully have always earned a six figure income in real estate since the very first year that I came into real estate as a loan originator. So drop those questions down.
This just came out of our office today. Please double, triple check your broker remarks to ensure that there's no mention of compensation. I received the following email today about an office listing. So one of our office listings, we have 253 agents, four locations. Good afternoon.
Pursuant to the NAR settlement effect of August the 17th, 2024, All verbiage pertaining to commission, compensation, concessions, etc. must be removed from listings to be compliant. Please remove the violating verbiage from the broker remark showing in the below listing. And then they identify that listing, right? If verbiage mentioning compensation, commission, and or concessions has already been removed, please disregard this email. Well, I'll tell you.
are MLSs being friendly. There are MLSs that are already initiating fines. The lowest fine that I've seen so far is $500. You cannot use the MLS.
You cannot use the agent remarks to convey commission, compensation, or concessions. We now live in a time where 13 states prior to the NAR settlement agreement were already implementing signed buyer representation agreements. So there were 13 states that were already doing this before the NAR settlement agreement.
I 100% believe that the other 37 states can do it if 13 states can. But we have to be clear about what those rules and regulations are. And do I believe that our agents are going to gain market share in today's real estate market? Yes, because we're consistently... training them.
We actually have a face-to-face training tomorrow. I am an early adapter of ChatGPT and some of its competition. And so when we start thinking about the tools that we're going to leverage in our business in order to create our biorepresentation assistant, ChatGPT is one of those tools. Perplexity, if you're thinking about how to break down any large amount of data, You want to create your own databases for your buyer clients. Perplexity.
Gemini is the tool that I tell anyone who is a very big Google user to use because you can use your calendar, your email, your drive as extensions. So we can pull all of that information to create your email campaigns, your follow-up text messages, any marketing strategy. And then if you...
are a very big Microsoft user at the bottom right hand side, you can use Copilot. Now, I'm not telling anybody to pay for four tubes, okay? But let me be clear, I pay for three in some form or fashion.
I've chosen to pay $20 per month for ChatGPT. I definitely have additional storage over on Google. And I do pay for Microsoft.
It is my preferred platform, even though Copilot is not my preferred AI large language model platform. So there's today multiple ways to be able to leverage artificial intelligence and platforms. I tell people to look at where their current data is stored and then aligned with that large language model form where they're currently storing all of their content. To me, ChatGPT equals the fact that every person here today has a productive, electrifying, trained buyer assistant. When I'm thinking about a buyer assistant, I'm thinking about all of the data that your brokerage has provided you, your local association, your state association, and the National Association of Realtors.
And how do we take all of this data and make it make sense for our business while creating marketing material. and follow-up campaigns, which I am going to show you through prompts how to be able to do that. So I have a productive electrifying trained buyer assistant in my brokerage that helps me do everything that I need to do that empowers me to be able to double my productivity, my lead generation, and my income. And I did this within the first six months of using ChatGPT. I was able to add an additional zero.
That means I went from a six-figure company to a seven-figure company, leveraging ChatGPT in 2023. This is why I love these tools, and I use them strategically in every single aspect of the businesses in which I operate. If you've not had the opportunity from your mobile device and or from your desktop, your laptop, your iPad, or your tablet, I want you to go and bookmark and set up an account for chatgpt.com. There is absolutely zero reasons in the world why you would not have the free version of ChatGPT.
Yes, you can use this tool for free. I spent $20 because I've been using it since its inception. I want to use it at its highest level.
But when you add an additional zero and you go from a six-figure company to a seven-figure company, there is no excuse for me not to spend $20 per month or $240 per year when I know how it has changed the financials of the companies in which I own. So... You want to go to chatgpt.com and we're going to bookmark that for now because we're going to come back to that platform in a little while. But let me provide you with some social proof. I birthed a Chicago sixth generation entrepreneur, second generation realtor member.
My son Skyler has been a licensed broker for three years. It'll be four years in. January. Skylar, I would say was acting like a 23, 24, 25 year old. Okay.
He was not consistent, had no idea what it was going to entail and was lackadaisical for lack of terms. Now I told the boy don't even come into real estate because I understood what it entailed. And what I cannot do is be an entrepreneur for me and an entrepreneur for you. But on December the 19th, we went out to lunch. He told me all about this new strategy he was implementing.
Now, because I'm his mama, and let me be clear, you can't talk about my child. I'm the only person who can talk about him, okay? I stole his strategy. I went and implemented his strategy after brunch the same day. I didn't have to call him and tell him I took his strategy.
He saw that I took his strategy. He called me the very next morning. He says, so mom, you're just going to take my strategy and run with it?
Yes, dear child. And no one is ever going to wait on you for you to implement. He's been mad at me ever since.
And I'm elated that he is still mad at me because in the month of July, he did $1.588 million in productivity. We're supposed to close $2.3 million, but you know, all deals don't close. In the month of July, he was number one in units sold.
He was number two in volume. He was $218 short from capping. That means his gross closed income to the company should have been $100,000. He was $218 short. And he said, you know what?
Don't worry about it. I got closings lined up in the month of August. In the month of August, about a week ago, he paid that $218 with his first closing of the month. He's the fourth person in our office to earn $100,000 this year. But I think when we think about artificial intelligence, I want you to keep in mind a 28-year-old who became consistent on December the 19th, 2023, earned six figures in six months because he did not come back to our company until mid-February.
Actually, February the 8th on his grandfather's. birthday and the celebration of the renaming of 75th Street. Skylar closed his deal.
It actually has more sentimental value now that he was able to earn six figures in six months because he's leveraging artificial intelligence, because he's a generation of people who has never lived without technology. So I'm seeing it. I know what these tools can do for your business, not just my business, but my agent's business, one of those agents being my son, okay?
So we're going to break this down, and I'm giving you an example. This example can apply to numerous variations of the real estate business. You have to identify what is your niche, okay?
And most of us don't have a niche. My son has a niche. He's Chicago's down payment. Grant King. Oh, let me also reference.
Yes, he did earn over six figures this year already. OK, but he also is responsible for putting out over one hundred thousand dollars in down payment assistance and negotiated closing cost credit. This is how he successfully gets a signed by a representation agreement with an offer of compensation on.
every last one of his transactions. So let me break this transaction down, the one that got him the cap. Imagine you close a deal at $295,000.
Now I want you to calculate in your mind, how much would you earn on that deal? I want you to know that he earned $10,000 on that deal. Why? Because he had a signed buyer representation agreement with an offer of compensation. That means that he walked out of the closing.
earning more than the listing agent. That's the true value of having a signed buyer representation agreement. But what are some of the steps that we can take in order to execute this in our personal business, regardless of where we are located?
A couple of things I want you to think about. When new agents are coming into the business, they'll always ask me, well, Markie, where do I start? I tell everybody, start in the MLS, okay?
Here's why. I want you to identify the fastest rate of sale at the highest price point with the fewest barriers to entry. That's where we start.
So most of us come into the business and we think about, oh, this is where I live and this is where my office is located. And they decide on these two communities or somewhere in between. I'm going to tell you, don't do that. What I'm going to tell you to do is you're going to go look in the MLS and you're going to identify first the fastest rate of sale. It means nothing to have million dollar price points if nothing is selling and you don't have any comps in the past 18 months.
It means absolutely nothing, right? That's not where I want to go. I prefer to have a lower price point provided that we have a fast rate of sale because that means there are more opportunities for me in that market. So I'm looking at.
the fastest rate of sale, the highest price point, and then I'm thinking about barriers to entry. One of the biggest barriers to entry is definitely going to be that of language. Right now in this country, Spanish is the second most spoken language in 45 states, okay? In some communities, let's think about city, zip code, census tract, Spanish will become the number one most spoken language in the next decade.
You need to ask yourself, have you prepared for that? And are you putting out any bilingual content based on what that other language is where you live? So I don't speak any Spanish, okay?
Actually, the only other language I speak is Icelandic. Not going to really help me in the world of real estate. So I want to look at my MLS to identify what that rate of sale is. price point and that barrier of entry.
Now, let me just give you a conversation that I had to have with Skylar. Skylar wants a higher price point. Can he get a higher price point with his current buyers? Yes, he can.
Okay. Now through his strategy, he's added 1200 contacts to his customer relationship management system since December the 19th. That means at 28, he has three times more clients in his customer relationship management system than the average realtor.
The average realtor. only has 400 contacts. So he says, well, I want to hire a price point.
I said, well, that sounds good. How are you going to get there with your current buyers? Right. When we're thinking about debt to income ratios or do they earn enough money?
And he says, well, I want to put them in two to fours. I said, yeah, we don't have any two to four inventory. So you want to put buyers in something that does not exist.
Come back and talk to me about that strategy. Once you create two to four inventory. And I gave him a strategy to do that. But under no circumstances do I want you to not close consistently now because you want to sell at a higher price point that's about $125,000 higher.
Do not sacrifice your current business for the higher price point. I'm going to tell you right now, you want steady, consistent business and the way to identify that is... the fastest rate of sale. I need to have something selling in these communities.
So I want you to think about this. I'm going to give you an example. I got a plethora of examples. So in creating this presentation, I had to decide which example I'm going to go with.
But let me give you what I'm talking about. Today, we're going to talk about 3x30, which is an initiative of the National Association of Realtors, the National Association of Real Estate Brokers, the Urban League, the NAACP, the Housing Alliance, right? where they're looking to create 3 million net new black homeowners by 2030. But let me give you a couple of alternatives if this is not your strategy, okay?
One, Dr. Lauren June, the chief economist of the National Association of Realtors, has studies that show single men do not buy real estate. That lets me know that men buy real estate for wives, okay? And I'm one of those wives, okay?
So men buy real estate for wives, if not... They buy it for their pet. So last week, using the tool Scout, I went to go find all of the single men with pets in my zip code in order to create a marketing strategy for them.
So I could do that. I want to give you another example. If this is not your goal, met last week with the commissioner of housing for the city of Chicago.
She came to the Chicago Association of Realtors for the director's meeting. And she said that in the city of Chicago, we will likely see a increase in the amount of notice of defaults being filed due to one situation, the increase in our real estate taxes. Now I'm formally the queen of foreclosures.
Let me tell you what came to my mind when I'm thinking about strategies and how we're gonna leverage artificial intelligence. What came to my mind is if I list a property subject to a short sale, the bank is gonna do what? I'm going to see, come on over to the chat.
Tell me what the bank going to do. Okay. Now I was the queen of foreclosures.
What is that bank going to do? I'm going to tell you what the bank going to do. The bank is going to compensate me and provide compensation for the buyer's agent. I promise you that. Okay.
And the rule of thumb, it was a certain percentage. If it's two agents, separate companies, a certain percentage of his two agents, same company. a certain percentage if it's one agent, okay? Because I'm not going to tell you what those percentages are.
I will say that it looks similar to what formula you might have been compensated. So now I'm thinking I got a bunch of strategies that I can roll out, but we're going to leverage artificial intelligence in one strategy. Keep in mind, it's not the only strategy that you can leverage artificial intelligence for. So when I started looking at the seven point plan to get us to 3 million new black homeowners by 2030. I'm looking at credit and lending, home ownership sustainability.
So that's why it's saying that we don't want you to buy and then go into default. Housing production. Yes, we need some new production or we need to repurpose our existing production. What do I mean by that?
I am now looking to do a 203k purchase rehab on mixed use with four residential units, okay? What that means is that I'm actually looking for mixed-use property that has more than four residential units because I can convert down. I'm looking for that 12-unit, 16-unit that formerly had studios and one bedroom that I can then come and combine those units to be a large three or four-bedroom, three-bath and have four residential units.
and then that commercial storefront because in the communities that I serve, it doesn't exist. So I wanna take commercial defaults and then convert them back to residential using a 203k. That all by itself is a strategy, okay? We need to have civil and consumer rights.
Think about fair housing rules, whether those are gonna be federal, state, county or city, marketing and outreach. We're gonna definitely cover that. Down payment assistance. I'm gonna touch on that.
and then home ownership counseling, okay? So we have this whole seven points, but we don't know how to articulate our value. We don't know how to leverage this information in order to generate leads.
We don't know how to leverage this information in order to get assigned by a representation agreement. So the very first thing, when it comes to artificial intelligence, you need to feed it data. That's why I'm doing all of this research because I can feed it the data from these websites.
and put it into my voice, my style, my tone, get my own script. and then convert potential customers to clients. Okay.
Margie, we got lots of questions. Let me take a quick second. You want to take a quick pause? I need to pause you right away, but I needed a quick gap.
One of the big ones that we're getting, a couple of people were asking, what is two to four inventory? Two to four inventory. Oh, so let's come back. So let's say that Skyler's...
Let me come back. Skylar's the Chicago down payment grant king. The maximum that a person can earn in most of these communities is one hundred and eight thousand.
We're going to round that up right to one hundred and ten thousand for the sake of examples. The rule of thumb is that a person can afford a house at two and a half times their gross annual income. That then means that most of his buyers are coming in right up under that three hundred thousand dollar threshold.
Right. So we get $110,000, $220,000, and half of that is $55,000. So we write at about $275,000.
Skyler's desire is that his price point comes in at $400,000, okay? Because he'll earn substantially more per transaction. Well, the only way that the single family residents can qualify for these two to four units that they can still use the same grant programs on is if we take...
And it's not an if. They will allow you to take up to 75% of the rental income to offset the debt to income ratio. So what we're looking for now are two to four units, okay, or multifamily residents where he could utilize.
I'm going to be a first time home buyer. I make $110,000. I can now utilize 75% of the rental income to. offset my debt to buy said property. So let's say that the rents are $1,500.
I can use 75% of that other unit to help me qualify to buy the two flat and then get all the grants. Okay. So you can, I can do two to four units. Of course I want the most units, but I can tell you the more units, the more units I buy, the less money they're going to give me to buy.
but the more money I would earn over time. So two to four units. Yep. And then the other question was, what is Scout?
Oh, Scout is, oh, actually they're in a pitch battle next week. So Scout is a predictive analytics marketing tool with AI that I could go in and let me give you an example because we did this this morning. I wanted to find, actually, I have notes on that. I'm glad that you asked. So.
what did we do this morning? I wanted to find all of the investors in the 60653 zip code. That's the zip code that I live in. So it identified anyone in 60653 that owned three plus units or purchased via cash. What Scout let me know was that I had 281 said people inside of the 60653. And it's providing me with a email marketing campaign to send out to this group of people.
And its numbers have shown that it is 70% accurate. Now, let me tell you why I want to do this. I want to do this because 72% of people do business with the first real estate professional they come in contact with.
I want another two that's going to give me a 70% probability, which guess what? That little 34% we've increased will increase. even more because I'm able to send direct marketing pieces via email, which is our highest converter based on any parameters. Even when I go back to that single male, I, uh, last week he identified for me, I think it was 179 men and 606, uh, five, three that were single and owned a pet. So now I could do a marketing campaign just for these men.
Now, let me tell you what, let me just Add to that, we had decided or I had decided, if I'm looking at single men and I have a lot of single family, multifamily properties, the reason single men buy real estate if they have a pet is because they want the pet to have outdoors and land and run and do all the things that a pet likes to do. I said, well, we need to do a marketing campaign leveraging MidJourney. MidJourney is a text to image platform. Okay, I'm going to create images of men with pets, but not any pets. I only want large, what is often viewed as a vicious dog in the marketing, where some properties will not rent to them and some condo associations will not allow or permit them.
So I'm strategically creating an all-male marketing campaign with a pet, but not any old pet, a large pet where some properties won't rent and or sell. based on the rules and regulations. So when I tell you with Scout and these other tools, we're going deep, right?
Because you don't have to be one size fits all. You wanna be the dog specialist who understand why they're buying. You're solving a problem with all of your marketing and branding that Rover, right?
Rover can now have, I'll set your debt to income, get a tax write-off and Rover will have a double lot to run on. That's how you do it. Never be denied the opportunity to house your pet again.
OK, that's the strategy. So that's what Scout does. Any other questions, Josh? They were asking, is it Scout or is this real Scout? It's Trusted Scout.
Trusted Scout. Thank you. Yeah.
Trusted Scout is the platform. And I've actually I've met Drew. many years ago at a, I'm just going over here to make sure that I'm giving, it's trustedscout.com.
Trustscout, trustscout.com. I met him years ago at Inman. When we first met, I wasn't using AI as much.
So it was hard for me to conceptualize it. Now, of course, I can talk about it all night and day because I understand artificial intelligence, but initially I wasn't, I wasn't understanding it. I understand it now.
So trustscout.com. So when we go back and just look at this one initiative, right, and I want you to think about everything I've mentioned as an initiative, whether that's the increase in real estate taxes can lead to notice of increase in notice of default, if it's identifying single men with pets, because we know that they're more likely to buy real estate than just a single man without a pet, whichever one of these strategies, right? The goal is that what is our unique selling proposition?
How are we going to differentiate ourselves from our competitors so that we can have signed buyer representation agreements with offers of compensation? You can't do what everyone else does, not today, and think that you're going to be successful. And the more niched you are and the more value you add, the more money in which you can earn.
So as we break this plan down, the three by 30, I interviewed another company, Home Lending Pal. Now, I'm going to show you how I do a lot of things. When I interviewed Brian, who's the founder of the Home Lending Pal, they provide free credit consultation, right?
They got this all-in-one portal, and they work with a lot of the DPAs, the down payment assistance, and the CRA, the Community Reinvestment Act, through banks, to provide this tool at no cost to the consumer, right? So I interviewed Brian, love his product. He's also in the IOI pitch battle. But here's what a lot of people don't know.
As the podcast host of Drive with NAR and the podcast, The Social Seller Made Simple, I've put out over 200 episodes since 2019, okay? It's why NAR brought me in to be their podcast host. Well, we record all of our episodes in video. The reason we record all our episodes in video is because video is the number one form of content that you can repurpose without recreating. So with every video, we get audio, we get audio to text.
From our audio to text, we have emails and we also have our blog posts and we have photo quotes. So on the back end of my Zoom, you will see that I have speaker view, audio only view, and then audio transcript. So when I'm thinking about that consumer and the fact that 90% of content is going to be consumed from the palm of the hand, Zoom has artificial intelligence in it.
So it's giving me all of these different forms of content because I'm not trying to force a consumer to do it the way that I created it. I'm taking what I created and I'm breaking it down into audio content, visual content. textual content because these are the different learning styles of people because I want to be the first person they come in contact with but I also want to retain them because I'm talking to them in their preferred method of communicating. But then you also see over here, it says watch highlights. So now I can go in and find those audio clips that are going to resonate based on the algorithm.
This is all AI inside of Zoom. So I could just stop here, right? Because I got video, I got an audio file, I got a text file, I can take this text file, I can create emails from it, I can create a blog. post. I can create social media content.
I can create photo quotes. Okay. So AI is infused essentially at every single platform of a Fortune 500 company today.
Well, a couple other things that Brian and I talked about, we talked about Loan Depot and the fact that Loan Depot has over 400 down payment assistance programs. But keep in mind, my son is also the down payment assistant king. There are over 2,000 down payment assistance programs. Skylar actually has a program that has over 500 of these down payment assistance programs in them, okay? So we're starting to break all of this content down to be the provider of the most content on what it is we profess to be the subject matter of to get that signed by your representation agreement.
So from the bottom. Long Depot, I'm able to go over and find out about just special programs. The U.S. Department of Housing or HUD, this is its Good Neighbor Next Door program. And then Wells Fargo has a program.
So I'm putting all of these tools together for when I schedule that consultation. I really want to overwhelm. I want to tell them things no one else has ever told them.
I want them to think of me as their value add to their real estate transaction, which is why they're going to sign that agreement because no other agent has shared with them the amount of information I'm willing to share with them before they even sign an agreement. But I don't want them to believe that they are going to be able to continue to get this level of service unless they work with me. Okay.
So this is why you have to have this data. But the joy of having the data is that we can repurpose that data into our own voice paragraph. So you got to do some research. This job is now about your ability to be able to research.
So the question is, in meeting the 3x30, this new initiative that just rolled out, did you know that there were 2,000 plus down payment assistance program? Did you know 39% you don't? have to be a first-time homebuyer.
So let me say what that means. You could have owned a home in the past, but you cannot have owned a home as your principal residence in the past three years. Okay. So that's that little caveat. Everybody thinks first-time homebuyers.
Nope. It means that I've not owned a home in the past three years. It means that a woman could have gone through a divorce or man. Look, however you, whoever you marry to, let me just be that.
go that route, right? You could have been married regardless to how you identify and you are considered a first-time homebuyer. Let's say that divorce was finalized five years ago. You took a settlement.
You decided to go rent. You now want to come back because guess what? Maybe you are a man and you got a dog and you got a large dog. You got three dogs, okay?
Now I need a big backyard for them. I want to come back and back. And that down payment assistance program make up 75% of all available programs. So down payment assistance is one form.
I want to tell you what else is a form. Have you ever heard of EAH? Employer Assisted Housing Program, where you, a lender, and a nonprofit entity go into companies, businesses to set up a down payment assistance program for the employees of that company. Why would their employer want to do that? Studies have shown that if your employees own real estate, they make for better employees and reduce your training cost over time.
People tend not to quit their good job when they have a mortgage to pay, okay? Just throwing that out there. So we have all of these different stats that are going to help us convert these buyers on our first call. But I do want to come and show you what Skylar has done. So Skylar on his landing page, he has his join his down payment grant newsletter.
He has his home buying and grant match call. You could use Calendly to set that call up. He actually uses Google to do so.
He has a home selling consultation. He has What's My Home Worth, which is Cloud CMA. And then he has his special program that he put everything together because he's leveraged a to pull 500 different grant programs, an eight-part email series. Let me tell you, his click-through rate on some of his emails is as high, open rate is as high as 67%. unheard of, with a 4.8 click-through rate, okay?
So this is why this program is working for him. This is just one focus that we've taken all of this information, and we're going to leverage AI to create more information in our voice, our style, and our tone. So I'm getting ready to give you a QR code that I want you to scan.
You're going to get... 189 prompts, but what we're going to focus on is step one, create your own voice paragraph. So now that I've collected all of this data, I want to take that information and make it sound like me. In order to make it sound like me, leveraging artificial intelligence, I need to do what is called a voice paragraph.
A voice paragraph is going to be my voice, my style, my tone. So when people are reading my content, It resonates, but it sounds like me. So that when they meet me face-to-face, there's not a disconnect from our marketing and what and who they are meeting personally, okay?
So you're gonna pull out your mobile device and you are going to scan this QR code. And I'm realizing I'm gonna have to speed things up a little bit. So you're gonna, and this might be, well, I'll give you some other exercises. So go pull out your mobile device and you're gonna scan. scan this code, the QR code, so that you can get to the 189 prompts.
We're going to give just one more minute to do that. Then if not, we'll make a link available for you to be able to get it. That won't be a problem at all. Okay. But let me show you what this looks like.
So inside of this on page five, you have a prompt. The prompt. is you're an AI system trained to analyze the text below for style, voice, tone using NLP, which is neurolinguistic, to create a voice paragraph. Employ natural language processing techniques to analyze the text, style, voice, and tone.
Your task is to distill the stylistic element into a singular instructive paragraph. for guiding another AI. Going back to ChatGPT, Perplexity, Copilot, and Gemini, okay?
So you will actually copy this, but you have to add a sample of your writing, not AI written, a sample of your writing. Your emails you've sent, your post on Facebook, LinkedIn, Twitter, all of that can be your sample that you provided, okay? So this is the first. exercise plus, I give you 188 of the prompts. Just copy and paste.
So this is those written instructions. I copied and pasted that over into ChatGPT for me. I did my example.
When I come back into ChatGPT, up at the top right-hand side, you see my head. When I click on my head, I am able to add my... own instructions to chat GPT.
But let me show you this way only because I want you to see this. So when we come into chat GPT and I go up here to the top right hand side, I click on my head, I go to custom GPTs and you see I have my own instructions here. At the bottom, how would you like chat GPT to respond? Write in the following style, voice, and tone.
The writing style should be professional. and informative, maintaining a confident and persuasive tone. Okay.
And so not only is my voice paragraph inside of ChatGPT, my voice paragraph is also inside of Canva and other places. When it's inside of Canva, when I come to Canva, I'm going to go to brand. I'm going to go to brand kits.
I'm going to click on my brand kit. scroll down to where it says brand voice. So the platforms I use have my voice paragraph.
So the content in which it creates always sounds like Marky. But when I say the content in which it creates, I'm gonna actually escape from here, but I wanna give you a live example on what is it that I mean. This would be what we're looking at. This is an ad amoural, okay? These are the instructions that I am giving to chat GPT.
in order to create content for me in my voice paragraph. And so I identified my target audience. I identified the product in which I have.
What it did for me is it created 10 micro ads as if I was the down payment king. Unlock your dream home without drowning your savings. Secure up to $20,000 in down payment assistance.
leverage Chicago's best kept grant secrets, get access to on and off market properties, start your home ownership journey today. And it gave me 10 ads in one minute. That's how we're leveraging artificial intelligence.
Another strategy to think about and prompt is the blue ocean strategy. That's creating a sea or an ocean of opportunities. On the right hand side, we have another route.
These prompts are meant to be copied and pasted, but you want to do it in your voice paragraph. If not, it will sound like someone else. I want to know what questions do you have on these different strategies that we have as we are loving artificial intelligence, but more importantly, our ability to be able to differentiate ourselves.
from the competitors with one goal in mind, getting a signed buyer representation agreement signed. One of the things that Marky touched up on that you guys cannot stress enough is use your own voice. Keep in mind that ChatGPT and all of these AI models were built off of the average article found on the internet and the data points that they got were average. So if you only utilize the voice of the AI.
You're going to get something that A, sounds robotic, and B, is going to be average. You want to be above average, okay? So, Sophia, it's contingent upon your MLS. Inside of some of your MLSs, you do have predictive analytics tools like Remind.
You might have Realist inside of your system. You might have InfoSpark. InfoSpark is probably one of the best tools in order to identify what that rate of sale is going to be. I would say reach out to your MLS because they all should have customer relationships or customer service that should be able to identify what the tools your MLS has. All MLSs do not have InfoSpark.
I am a member of AMRED. So we are a regional MLS with, I believe, over 54,000 members. And so we have a lot of third-party tools that help us in that calculation.
Marky, I was listening to one of your podcasts recently with Cole, I think from Tuesday and and it's his company's Tuesday or something is and he was talking about the MLS and some AI tools. Maybe you could give our listeners a little insight from even that, because I thought that he had some really cool ideas. And anyway. Yeah.
So I met with Cole, I believe the name of his company. is Tuesday, he's also in the IOI pitch battle. So I decided to interview the 12 founders that were selected out of over 100 companies to participate in the IOI summit. And what Cole has stated is that the MLS historically is just lines of information in a spreadsheet, that that is not how we as real estate agents like to receive data. So that his company has taken all of those, you know, every line of spreadsheet and giving it to us in a visual way, one that we can interpret better, but more importantly convey back to the client even better.
It's been very interesting interviewing the 12 companies that are participating in the pitch battle. One, it let me know what I don't know. Right. And all of the ways in which artificial intelligence is being leveraged in order to save us time, make us more productive, but also.
repurposing the content that already exists into one, the preferred learning style of the consumer, but also changing the tone of the content. So we could imagine we could take content and make it sound even more friendlier. So Cole is with the company Tuesday, and it's all about the interpretation and visualization of the MLS information. I love that because in many ways, the data, the data is data. It's but it tells a story.
And that's really what we as agents do is we're, you know, we're telling a story. Even Josh's first question, like, hey, how's your market? Or do you have increasing inventory? Do you have decreasing inventory?
You know, that that's data. If you can tell a story behind why that data is there, now you're connecting with the buyers, the sellers, you know, and you become that trusted advisor. Love it. Yeah. And if you understand it better, that means that you can present it better.
You know, so the more you know and the more comfortable you feel, the better agent you will become because of your ability to convey that information. Let AI is not going to replace an agent, but the agent using AI can easily replace the agent not using it. But this is what I want you to think about. All agents, of course, aren't created equal. 20 percent of agents are responsible for over 80 percent of the productivity.
What I will tell you when I'm looking at what we call platinum level realtors in the city of Chicago. These are agents who are doing more than seventy five million dollars per year. and gross closed income. Three that I know personally are leveraging artificial intelligence.
Two of the women, and I'm talking about women who have had children because oftentimes, you know, people will say, oh, well, she don't have any kids. Well, I'm talking about women who are married with children who are selling over $75 million per year. Two of that top 10 in the city are married to men who own predictive analytics. companies. Their husbands are telling them the probability of something closing between zero and one at the first point of contact.
Just want to throw that out there. So even though 43% of the people here aren't leveraging AI, I will tell you that your top producers in your marketplace, those that hold that 1% position are leveraging technology or their assistants are leveraging technology or their company they've identified to be with. and align with is leveraging, and not just technology, but artificial intelligence, which is how they're able to maintain these positions year after year after year. And I'm not, you know, I'm not force feeding AI on anyone.
I'm going to tell you that I am going to be financially eligible to retire on July the 31st, 2033 at the age of 63, that if I don't want to work, I don't have to work because I'm leveraging artificial intelligence. And that allows me to net more income that I then invest in my Roth, my SEP, and allows me to invest in prop tech companies. And so if you want to earn the most amount of money in the least amount of time and net the most and be profitable, I would say that the mass majority of us are leveraging artificial intelligence.
Well, I think just a productivity standpoint, somebody asked some ideas for how to utilize AI for organization standpoints. One of the things that I've found is that, you know, and Marky actually went over this in our last webinar. So if you guys are interested, we did a webinar a couple of months ago and she went over downloading and uploading Excel spreadsheets into ChatGPT and asking for certain outputs.
So what you can do is let's say I had a whole database of information and I want to put that into a more pretty presentation, ChatGPT and a couple of others will take that information and make it more accessible. and make it a little bit easier to understand or to digest. You can also organize yourself better by asking it to, you know, make it into tabs.
You know, say, hey, there's a whole block of information about all of my people, everybody, and I've put tags in there in my CRM. And I want you to organize, chat GPD, ask it to organize that block into, okay, more likely to buy in the next six months, least likely to buy. Why? Because they just bought a house in the last two months. They're not likely to buy unless they're in the investor tag.
So you can ask it to organize your database. You can ask it to organize different parts of your business, your marketing expenses. Just put it in there and start learning that. Now, I will say this, be careful in doing so.
I would say get the $20 version if you are going to do it, because then that data is also private. Keep in mind that when using ChatGPT, the information that you input on the free version is now going to be accessible publicly. So we did get-Yeah.
I thought that, you know, that's one of the questions I could help you answer, organization. It just depends on your business. You know, I'd say play around with it.
Learn how to leverage the different prompts. But to me, that's one of the best ways to do it. Just look in your CRM, see where the most opportunity is.
And then I- What do you recommend for someone that is just starting out? What type of clients do you look for? I'm going to tell you, you're going to go back to the MLS. So MLS, most of them have free training and you want to take the free MLS training provided through your multiple listing service.
You're going to, I tell every last one of my agents, we starting with research because they launch these full, you go get new headshots, you get business cards, you declare where you're going to sell real estate. Well, you should not do any of that. Unless you have a business plan.
So one of the reasons I've always been successful in real estate is because I've always had a business plan. When I came in as a loan originator, I had a business plan. When I shifted from being a loan originator to a broker owner, I had a business plan.
When I decided I wanted to go into foreclosures and short sales, I had a business plan. When I decided I was going to focus on social media and technology, business plan. artificial intelligence business plan, right?
So every single year we're sitting down in the fall and we're creating our business plan for the next year. And every single year it becomes more detailed because we actually have more data to know why we should go deeper, pivot and or lead. Now, mind you, this is across every shift that has occurred.
Foreclosure, global pandemic, NAR settlement agreement, right? And so going back, you have to understand that rate of sale, that price point and those barriers to entry, because and let me say, when I think about barriers to entry, I have three communities in close proximity of where I live that I could actually I'm going to go for one of them. You really need to live there.
So Hyde Park, home to Hyde Park, North Kenwood, home to past President Barack Obama. You need to live there. They are. Very particular on who they do business with and they do business in a community. Just want to point that out.
Chinatown, I got a language barrier. Bridgeport, home to the largest fair housing lawsuit in the country in history. OK, I'm just giving you some of my barriers that I'm looking at.
Right. And so knowing this, then I need to decide if I'm looking at, you know, four communities and they are all about the same price point with the same rate of sale. And I'm looking at those barriers of entry. So don't just. pick, and I've had this talk with agents, they'll go pick, a lot of people want this community called Beverly.
And Beverly is a higher price point, but it's also very saturated. And every single agent wants to be there. There's a community adjacent to it that actually has a faster rate of sale at a lower price point.
And the agent can't get out of their own way to go to the adjacent lower point where they could actually dominate and sell more houses than to be in competition with the perception of selling a house in Beverly. Don't be your own barrier, but it's MLS, free MLS training to understand the numbers of your marketplace. So it means do the research. You got to do. You're not building six million businesses with no research.
It's not happening, y'all. I think that's just that you can't just walk into the business and hope somebody knocks on the door. Right? There's two ways that you grow.
It's A, you do the research, and B. you start getting people, you know, start leveraging the people, you know, that's usually the first step. Tell people if nobody knows that you're doing real estate, why are you in real estate?
It's not a great way to start. So definitely start there and then dig into the research for, for your, for, uh, for the remaining amount of money that you want to make. If you don't want to just sell one or two a year. Yeah, I agree. Hey, it doesn't look like we have any more questions currently.
So I wanted to say thank you, Marky. Hey, everybody who has joined the webinar, if you haven't already heard of Showami, Showami helps with on-demand showings. We also do open houses, inspections, appraisal, because we have a whole slew of products for you to check out. More likely, you've already heard of us, but if you haven't, it is free to sign up. You just pay per showing.
As always, thank you, Marky, for jumping on. And everybody, thank you, and we hope you have a great rest of your day.