Speaker 1: 0:30

My name is Zach Lipson. I am a realtor with the Jason Martin Group at Real Broker. In addition to being a real estate agent, I'm also in property management and a little bit of construction management and kind of a few little things kind of intertwined there, and I've been in sales for a little over 13 years, okay, but collectively between sales, construction, property management, probably about close to 20.

Speaker 2: 0:54

Okay, cool, Do you feel like that maybe puts you at an advantage being a construction manager as well and being able to have that perspective?

Speaker 1: 1:03

Absolutely. I joke with my clients like I can't see through walls, but I'm pretty good at picking up on red flags and things to look out for. Yeah, it also gives my clients a decided advantage on cheaper rates, and I just have a lot of know-how and knowledge and good connections for folks to work with. So I've won deals simply based on those relationships and my knowledge. So it's been very beneficial.

Speaker 2: 1:28

That is awesome. I'd like to ask you a little bit of a backstory about yourself and how you got involved in the industry that you currently are right now. Was that always in the cards for you?

Speaker 1: 1:38

No, definitely was not always in the cards, although I would say what I've always been interested in from a very young age was construction.

Speaker 1: 1:47

I always thought I'd be doing something related to construction. I think it plays to my strengths as being a very hands-on learner and kind of my visual skills and putting things together. But I think it's also in part because I learned to break a lot as a kid, much to my parents' chagrin. But I've really enjoyed being able to take that experience in construction and use it in management side as well as sales. But I think you know, eventually one day I'd like to actually do more construction stuff, whether it's custom home building or getting into flipping properties or buying holds, whatever it might be. But I like not being in an office, I like being able to use my hands. I like fixing things, kind of get to see what you've done, whereas other things you know you might work eight hours on something one day and you may not be able to tell that you've done anything, but when you build things you kind of get to see the progress right away.

Speaker 2: 2:52

So it's rewarding, so maybe that could be something to look forward to in the future is just being able to be more hands-on and flipping houses and get to that right.

Speaker 1: 3:02

Yeah, and doing it the right way. That, for me, is the most important part.

Speaker 2: 3:05

Why is that important to you? Doing it the right way.

Speaker 1: 3:08

There are a lot of people who just want to. They're looking for the lowest bar or lowest threshold of entry, right, and so they may put in cheaper products because it means they're going to make more money yeah, or whatever's going to be least expensive and easiest. But for me, when you want to do something long-term, your reputation is going to define your success, and so if you're putting out a product there that is not something you want to stand by, you're not going to last. Yeah, and maybe you will with a certain crowd, but not with where you want to be. Yeah, so it's not always going to be about you know how much money you net, but about the product you put out there and people coming back.

Speaker 2: 3:53

Absolutely no. I think I have to agree with that. Getting it, getting it done the right way and like upholding your reputation to the best standard, is super important. So yeah, and now I'd like to ask you about marketing Are you using any video, maybe graphics, online to get the word out there about the type of services that you provide and what you're capable of doing online, or anything like that?

Speaker 1: 4:18

So I do work with somebody who helps to spread the word. I wish I could say it was all me, but I've only got two hands and one head. But I've got somebody who helps me put out content on a pretty regular basis, because it's really important to be present and trying to put out pieces that are offering you know that, that are actually going to help somebody, not saying hey, me, me, me, me me. But hey, here's, here's how I can help you, here's, here's how I did this. Learn how to fix this in your house, things that are going to be beneficial for them.

Speaker 2: 4:52

Tips. Yeah, that's awesome. And then you told me a little bit that you do, I guess, some of the filming sometimes too.

Speaker 1: 4:58

Sometimes I film, I mean very early on when I started creating. I have a YouTube channel but I haven't done so much but called Mr Fix the Realtor, and I've got like 30 something videos on there and it was, you know, between doing the actual work to film it and then editing it. I mean I enjoy it but it's very time consuming. Yeah, yeah, so I was doing that, so I've picked up some new skills. It makes you appreciate what people are doing online. When you see a video that lasts 30 seconds, you don't realize that could have taken 8 or 10 hours collectively between putting that concept to paper, filming it, editing it, all that stuff.

Speaker 1: 5:41

There's just so much that goes on in that and it quickly gets forgotten by people who don't realize it. And there's a lot of people who are just consuming content just for their entertainment and nothing more.

Speaker 2: 5:51

Yeah, no, and I love that. That. You, as your own boss, as a business owner, you understand that, excuse me. You understand the importance of video content and how you use it right. You're able to profit a lot from it, and I don't mean just profit monetary, but sharing information, being able to help others and people knowing who to come to or where to ask when they come up with an issue. Yeah, so that's awesome. I love that. I'd like to ask where do you see yourself in the next five years as a person and with your business?

Speaker 1: 6:26

As a person, I'd like to see myself taking more vacation. Amen, Mainly because I work a lot, I've got small I, you know, work a lot, I've got small children and they, they grind on me a lot too. Oh, but uh, I'd like to see more of a work-life balance. It's very difficult at any age, especially when you work for yourself, setting boundaries I've gotten better at that to say no. A lot of people naturally just want to say yes, yes, yes.

Speaker 2: 6:56

Yeah.

Speaker 1: 6:57

But, you know, addition by subtraction.

Speaker 1: 6:59

So, having that better work-life balance, being able to take time off, whether that's having systems in place or having people to help, because right now I'm largely a one-man show yeah, I mean, I have some resources and folks at my disposal, but I'm also very much type A in my work, whereas usually I'm very type B, even laid back, but type A, like I'm a control freak, about how certain things get done.

Speaker 1: 7:25

Yeah, so you know, I'd like for that, you know, to allow me more time for my own passion projects, doing things with my family, vacation and professionally, uh, I, I see the business, you know it's not simply just the real estate but, uh, and the management, but also whether taking on some sort of new business venture that ties into that. Yeah, there's lots of different needs within real estate and construction and property management, and I know there's ways to tie those three in with a really good customer service experience and good communication. But even if you know you don't have to be the best, but you have to be able to communicate what you can offer and how that's going to help people. Yeah, and that is something I've been good at and I think I can use that to build on moving forward five years from now, 10 years from now, whether we expand the business model to incorporate some other things, whether it is hey, you know a home renovation service or something of that sort. So I'm looking forward to that.

Speaker 2: 8:32

Yeah, and it sounds like you've got a lot of great ambitions and I love that you're self-aware about where you need to work on for yourself. That's very important to be self-aware about that because sometimes, if you don't notice, you might keep doing those mistakes over and over again. So the fact that you're like, okay, I need to set boundaries, make some time management for myself, to make some me time, I love that. I love that you're self-aware about it and know where your strengths and your weaknesses are Very important. What are some current challenges right now in the real estate market that you're seeing? Or maybe it's already happened, or maybe you predict or feel like something's coming. Talk to me about that.

Speaker 1: 9:14

Well, I'm sure if you've talked to any other realtors, you've probably heard some of the same things I'm going to tell you. But I mean, I think the barrier for entry is difficult for most buyers. We've seen interest rates come down, we've seen them come up. Affordability, or the lack thereof, is a tremendous problem that we're seeing both locally and nationally, and I don't see that changing anytime soon or maybe even changing at all. We live in a very busy area that's in demand because of multiple different sectors, from technology to government to healthcare or whatever.

Speaker 1: 9:51

But I think the affordability is the biggest issue we face and as real estate agents, our job is to help people find homes. It's not, hey, let's get paid right, our job is to help people find a place to call home, and so I mean that happens both on the sales side, both rentals. But we've seen it's been slow. I mean a lot of folks don't want to leave their you know, two and a half, three percent more interest rate, so instead of them selling to buy their next place, they're sitting, sitting, sitting. Same time we're seeing I mean my business. I've seen more rentals come on because on the management side people can't sell these places, typically the condos, and so we ended up renting them, which is fine by me. You know we have to ride out the storm until things improve, and they will.

Speaker 2: 10:39

Yeah.

Speaker 1: 10:39

But until the rates get better we're going to still sort of see the same cycle. And then right now we're in. You know it's been cold and we've got snow here. You know people around this area are not so eager to go out in that type of weather and so you know, typically it's a little slower. You know, after the holidays it picks up and I think we'll still continue to see it to pick up. Some People kind of hold off on putting listings on during the holidays for good reason. Some People kind of hold off on putting listings on during the holidays for good reason. But we're seeing a slight uptick. But still we've been at very low inventory for many years now that that is the norm. But it continues to be problematic because people are always kind of looking, looking, looking. Even trying to find things off market is challenging. You just have to find people are motivated on both sides.

Speaker 2: 11:30

That's some great insight there. It's tough out there but, like you said, we just got to wait it out. It's all about waiting and just seeing when. What do you think about the interest rates? Do you think they're going to go down some more? Are they going to stay the same? Go up? I know a lot of people are like it was at 2% 3%. I'm waiting. I know it'll come back.

Speaker 1: 11:48

Yeah, I don't think we're ever going to see interest rates as good as they were. A lot of people don't think about the fact that low interest rates are designed to motivate spending because the economy is not performing as well as they'd like, but at the same time, they've raised rates due to inflation and things like that. So will they come down? Yes, and initially when we started going up, I said you know, give it like 18 to 24 months, they'll come down. That has since changed. I think the best we get is somewhere in the fives for the foreseeable future.

Speaker 1: 12:26

Yeah, and at a certain point people have to adjust, but it's you talk to people my parents' age, you know they got a house and it was 11% interest or 16, but the cost was lower, right, although granted with inflation. You know that $300,000 then could have been, you know, $1.2 million by today's standard.

Speaker 2: 12:45

Yeah yeah.

Speaker 1: 12:48

So you know we have to kind of look back in hindsight and understand. But the people who are waiting, they're just going to pay more down the line, unfortunately, whether it be interest or they pay more for the purchase price Because we're still continuing to see prices at a minimum, are stable, if not increasing.

Speaker 2: 13:12

Yeah, no. Thank you for sharing that insight and giving us a little bit of what to expect. It's the wild west out there a little bit, thank you. What are some common misconceptions in your industry, whether it's in construction management, rentals, real estate buying, selling property? Or is there anything you'd like to debunk or just give more awareness to out there?

Speaker 1: 13:31

Well, I think, as far as for buying a lot of buyers who've never purchased before, there's always this idea that they have to put a certain amount of money down. A lot of them hear 20%, which is not the case. You can put as little as 5%, sometimes even 3%, depending upon if it's a portfolio loan or a certain type of loan. That's pretty popular. And then the other one is they don't understand about closing costs, which obviously can add up. And I think in general people don't understand how we as real estate agents get paid, because for a long time we got paid by the seller and things have more recently changed. So now people's eyes are a little bit more open to that after the recent National Association of Realtors settlement that took place back in August, changing how compensation is disclosed and who's responsible for that.

Speaker 1: 14:24

So those are pretty common misconceptions. And then there is just the general misconception about realtors as a whole, because we see, you know selling Sunset HGTV, like, oh, they only saw three houses and they bought one. Like, no, like I can show someone 30 houses, I can show somebody, god, 50 to 60, right, and I can still get paid, whatever the compensation is for that deal or whatever I tell my buyer hey, you owe me this. And people think, hey, you guys are overpaid, you don't know what you're doing. And if people think that, perhaps they had a bad experience, but that's not the way it is for everybody.

Speaker 2: 15:00

Yeah.

Speaker 1: 15:00

But our industry as a whole. There's not a lot of requirements to get into real estate.

Speaker 2: 15:05

That's what I've heard.

Speaker 1: 15:10

I think the minimum requirement is basically to have a GED. I'm not saying, hey, you're good if you've got a certain level of education. There's people who are street smart, have a lot of common sense. There's people who are intelligent, who don't graduate. We see a lot of great entrepreneurs who didn't finish college but at the same time, there's a lot of people who are doing a disservice to clients because they don't understand how things work.

Speaker 1: 15:34

They don't understand how to communicate or advocate for their clients, and so that's where we see that anybody can go get a license and spend a couple thousand bucks on their license all the dues, memberships and things like that and go hey, let me open the door, show you a house, right, Anybody can do that. Yeah, but to have the insight, knowledge, expertise and to guide somebody through that process where they know they're well taken care of, is not something everybody's capable of yeah.

Speaker 1: 16:08

And something this important, where you're spending this much money, you really want to make sure the person you're working with knows their stuff, and most of our business is by word of mouth or referral. But you get people who go with an agent they never heard. They just clicked on a link. They said, hey, I want to request a tour and they go work with them and they go well, you know they were okay, but they didn't do any research. It's like you're going to buy a $500,000 property and not check out this person. So like people need to do their due diligence too and not say it's all the realtor's fault. Listen, these people stay in business because of this. But you know, at the end of the day, there are a lot of great realtors in our industry and if you're looking for a realtor, the best way is to get a referral from a friend. But I think that's one misconception is a lot of agents, you know, don't deserve what they get. The good agents do.

Speaker 2: 17:01

And the good agents.

Speaker 1: 17:02

You know they set themselves apart from the rest.

Speaker 2: 17:04

Yeah, it's probably those bad experiences people have, that kind of ruin it for everybody else. It's just like that. Now they're going to think that this is what it is, but it's not. Yeah, this is why we can't have nice things there. You go Exactly that quote right there. I would like to ask you between doing property management, being a real estate agent, what do you like to do to unwind and take care of your mental health I know we talked about. Sometimes it's a little bit hard for you to sit down.

Speaker 1: 17:31

What's mental health? Yeah. Mental health like taking care of yourself like those little moments that you can find. Who?

Speaker 2: 17:37

me.

Speaker 1: 17:38

Well, when it's not frigid out, I mean, I like to play golf not so great but even going to just me time can be as simple as sitting on the couch at night watching a game. I don't have like major demands here, but it's sort of being able to shut out the noise, right, where I'm not having to be on my phone and I don't have to worry about. Oh, this is what I have to do tomorrow, or I have this appointment next week, you know. So if I can go to a concert and just relax, like I mean, I don't do a lot of experiences anymore. I would love to do more of that, but it really is just when I can focus on myself being outside, I love it.

Speaker 1: 18:17

Honestly, it sounds crazy, but unwinding for me is like doing yard work, because for one, I always tell everyone this I'm like let me cut the grass. The grass doesn't go. Hey, I'm not going to be cut today, right, you cut it and it's done, right, and I don't have to listen to my phone, my phone, I can't have to listen to my phone, I don't my phone, I can't hear it when it rings, yeah, and so it's a good way for me to just cut everything out, and then I feel proud of what I've done so and at the same time I get exercise and probably a pretty bad sunburn.

Speaker 2: 18:44

But Some sunshine.

Speaker 1: 18:45

Vitamin D yeah, so I mean I'm pretty simple on those needs.

Speaker 2: 18:50

No, but that's so important. Even if it's as simple as cutting the grass, the lawn, whatever, it's kind of like escapism. It helps you get away from those other things that are constantly fighting for your attention.

Speaker 2: 19:02

You get to think breathe fresh air, get some sun, a sunburn a little bit All that good stuff you get to experience life and be outside. And what does the day look like? Oh, there's my neighbor Joe. Hi Joe, it's those little things that help you so much. So I'm happy, and I'm glad to hear that you're able to still find those little escapism moments, whether it's with music or going to a concert. I love that. Never give that up, ever if you can? I know it gets crazy, but take care of yourself.

Speaker 1: 19:32

Thank goodness for grandparents who are local right yes, oh, my goodness, right, that's going to help.

Speaker 2: 19:37

They're going to be like I got you for the day Go ahead, go to your concert. I love it. Is there anything that I have not touched on, perhaps, that you would like to get out there and share with our listeners? Whether it's about yourself, your business, management, you have the floor for basically whatever you'd like to get out there management.

Speaker 1: 19:56

You have the floor for basically whatever you'd like to get out there. Well, I mean, I really appreciate you taking the time to have me in today and talk about my business.

Speaker 1: 20:04

I've really enjoyed it Absolutely. I mean, we've really pretty much touched on a lot of this stuff, but my main thing is I really enjoy helping people, and that's whether it's a lot of that's through education. I really think it's so important for people to understand the why, for you know, why do we do this when we buy a place, or why do we do this for management? People don't understand the reason behind it. They're not going to be comfortable, they're not going to trust you, and so I'm not here to sell you on anything. I just want you to learn. If I can't teach you how to do it, it's not here to sell you on anything. I just want you to learn. If I can't teach you how to do it, it's not going to do you much good, like you have me, but it's that much more impactful when they can go. Hey, I didn't know any of this. Now I know what to look out for. You know you've really provided value.

Speaker 2: 20:51

Yeah.

Speaker 1: 20:52

And that's that's my goal, that's my main goal. With anything I do, I'm not going. Hey, spend 30 minutes on the phone with you here. You owe me 150. I'm not doing that.

Speaker 2: 21:03

Nickel and dime.

Speaker 1: 21:04

I mean I wish I could charge a rate. No, but it's all about educating and providing value.

Speaker 2: 21:11

And I think that will show through. People will be able to like. People are smart, right, they know when this person is being genuine and trying to help them, versus like, oh, they just want my business, so it can be another sale or transaction for them. Another thing I'd like to ask you is what do you think is, or are some important factors when people are looking for real estate agents or maybe property management, to help them with some key factors you think they should have in your opinion?

Speaker 1: 21:40

So I mean, I touched already on this with referrals, you know find out some names from people you trust and know.

Speaker 1: 21:48

But I think it's important to understand. I mean, a lot of people get hung up on neighborhood specialists. This was an older thing, but I think it's really finding somebody you're comfortable working with. So I think it's super important that whomever you work with whether it be management, whether it be building a house or real estate agent, somebody you mesh with right Like you want to make sure it's somebody you like because you're going to spend a lot of time with them.

Speaker 2: 22:13

Oh yeah.

Speaker 1: 22:14

Maybe more than you care to, because the process just takes that much time, but you really want to make sure you drive with them and that you know if you've got questions. You don't feel silly asking questions, right? Yes, because I like to think of, like after transaction. I like to think of my clients now as my friends. Right, because it's not transactional for me. So I think it's finding somebody who's looking to have a relationship with you. For most people, real estate is not a one-time thing. I mean maybe if they're a seller and they're moving out of the area, but more often than not, you know, clients come back to you.

Speaker 2: 22:50

They do.

Speaker 1: 22:51

And so you really want to be able to create a great experience. They do, and so you really want to be able to create a great experience and I think it's important that you find somebody who can do that for you, because anybody can sell a home, but can anybody make it a special experience for you where you don't feel like, oh, we've got to go back out and look at houses today, right, and then on the management side, it's just finding. I tell my clients it's all about setting expectations and communication, which is applicable to anything in this world.

Speaker 1: 23:16

Truthfully, yes correct, but making sure your message is clear. Hey, can't get to it today, is it okay if I get there tomorrow? Sure, right, just?

Speaker 2: 23:24

being transparent.

Speaker 1: 23:25

Yeah, honest, just being transparent. So find somebody who's going to be honest and upfront with you and not beat around the bush and make you go. Well, man, you wasted a month, two months, whatever. I really just wish I knew this up front. I would have gone somewhere else, and it's important for people to go. Hey, can you take this on? Do you have the bandwidth for more clients?

Speaker 2: 23:47

Yeah, I like that. No, transparency is so important. I think that's a big not big word, but like a big subject to touch on.

Speaker 1: 23:57

Yeah.

Speaker 2: 23:57

Because transparency if you're not transparent with people, I feel like that trust is never going to work, like if you're just sugarcoating everything or just like not caring or going that extra step. So kudos to you for doing that. My final question now. My final question now do you have a quote, a saying, a mantra, maybe a song lyric that has spoken to you or resonated with you in your life that maybe you would like to share?

Speaker 1: 24:22

Well, it's sort of a construction quote that I like to say Wonderful Measure twice, cut once, right. So you know, like to double check the details. That's always something important for me, because you want to do it once, yeah, and you know it's not, save yourself the time and the heartache. And so slow down, double check your work do it right first time. Yeah, so I feel like that's something that can be applicable to so many things.

Speaker 2: 24:50

Oh for sure. Yes, that was a good one and I like how you like brought it back with your construction, like it's a construction quote. Here we go Like right up your alley Perfect Well. Thank you so much for coming on the podcast. Thank you so much for sharing a lot of insight, perspective and self-reflection. That was great, thank you.

Speaker 1: 25:09

Thanks for having me. I appreciate it.

Speaker 2: 25:10

You're welcome.