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Hey real estate agents! Welcome to making a smarter agent. Your program to find out all tips and trends as told by the great ones in real estate. What’s a great one. Someone that’s able to make money and still keep their head on straight. Let’s face it. This is a tough business. We interview tough people who seem to make it look easy.
I want to welcome Peter Hernandez to my podcast. Peter welcome to making the smarter agent.
Peter Hernandez: Thank you it’s a pleasure and an honor to be on your podcast. You’ve done an amazing job with this podcast.
Well I’m delighted to have you I know. Last week we had Ivan Estrada. The week before that we had Jennifer Leahy and there’s all kinds of others but not the least of which I’ve been really looking forward to talking with you and finding out about you and what makes you tick. So let’s kick it off. How long have you been in the business and when did you get started? What was it like when you got started?
Peter Hernandez: Well I got. It was interesting I was 18 when I got my license and I was going to UCLA at the time I was a getting my Bachelor of Arts and economics and my dad said Hey I’m getting tired of footing the bill you know get in here and work. So I went and got my license he had he had a broker. He actually opened up his brokerage in 1964 in Marina Del Rey it was right when they were dredging the marina and they were actually gonna make all the Venice canals connect and it was all going to go out to the marina and I was going to go out to the ocean never evolved that far but it did obviously become you know some pretty amazing real estate.
So I got my license and in that it was it was I was 18.
So I’ve been licensed got I guess almost forty nine years now and I I you know it was one of those things where I was pre law.
I was gonna go to law school and you know I went in on my first weekend to go to work and I made a sale. So unfortunately I think it aborted my law career
Fortunately or unfortunately no that’s that.That’s terrific. You got into it and it was your dad’s business just anger.
Peter Hernandez: He was the manager of the office or I didn’t know I was my dad’s business anyway and he was partners with my brother Michael and they had like the number one brokerage at the time down there it was you know during the time a small independents and they had about 25 30 ages but they were all the best agents and you know they just dominated the market and it was that style of brokers where you do a little bit of property management you sell you represent some clients and then you buy a whole boatload of real estate.
And my brother and dad were buying property is right and left you know like stuff on the oceanfront for twenty seven thirty thousand dollars back then and yeah it was quite a time. So it was sort of our very beginnings I think of that really cool style of brokerage.
So you know what we’ll back up just a second. You’re you’re you’re really in the business you you saw your dad and your brother you got into it immediately or at least at the ripe old age of 18 made a sale decided not to be a lawyer it was at that point that you said Okay I want to own a business or I wanted to be a salesman and I want to make the distinction because I think there’s a lot of people in this business that really look at themselves as working for a business as opposed to working on a business right.
Peter Hernandez: Well I was probably neither of those I was to be honest I was a little bit at the prodigal son so I would make a sale and then disappear for six months and come back broke and beg for my job back kind of thing. I even though I did not pursue being a lawyer. In all honesty I didn’t want to be a realtor either. It just it was just something that was very natural for me. It’s just something that that I fell into and that that I just seem to have success at.
So in the very beginning now I was I was pretty typical I thought of myself as an agent. I was very transactional minded. It was all about you know where am I going to find my next transaction. I was definitely more working in the business than on the business.
And it’s an interesting story because I spent 10 years pretty mediocre even though I made my my head that first sale on the first weekend. I was a pretty mediocre agent to be quite honest for 10 years and my bills were stacking and I was about that time that my dad was starting to wind down the business and for various family circumstances it wasn’t anything I was going to be able to take over. So I moved to next door to a large independent called John Douglas company which was like the beginning of the big independence when they were coming in and there was you know John Douglas and Fred Sands and you know was probably around probably the time you know.
Douglas Elliman was you know coming on the market strong and it was just that time of Barrows before the franchises.
And so I joined huh.
What year was this about.
Peter Hernandez: I think I joined them in the early 80s. And so I I jumped I jumped over to John Douglas and I’ll never forget my brother I was talking to my brother about it and he says Peter he says you know it’s now or never you got to really get cranking and so I you know he said you know get in early be first in the last out don’t hang around the water cooler or you know be nice to agents but you know they’re not going to buy or sell from you.
Get out there and you know work. And so I went in there and I just did exactly that I got in first left last. I was probably booked more hours in the office than than anybody. And then I had my first big year and then I went to my accountant and I said you know I had this big year.
We know what property says God you Oh like you know I forget what the number was a bunch of taxes and I said Well I don’t have it. He says Oh boy. He says Let’s incorporate you and we’ll move your tax year you know from calendar to fiscal and they’ll give you some time to earn your taxes.
So we got it here. They incorporated me and I’ll never forget this that I was walking out the door and I’m looking at my little box of corporation papers and my my official stamp and the wax and all that stuff that goes with it and I’m looking down at it and I read you know Peter Hanna’s Hernandez Inc.
And I looked at it and I take it myself I’m not an agent I’m a business and I had that that moment of clarity that you try to effect and everybody that I work with and coach where you think about scaling you think about a pipeline you think about building something bigger than yourself and you go beyond this what I call transactional mentality into where you’re really you know building a sustainable business and that just clicked at that moment because of. Because of that that box that that box of incorporation papers. That was it just somehow had a huge effect on me.
You know when you see it in black and white sometimes it is really big. Know I Think Fast forward a little bit. I know you you had a company name. Tell us. I think the full name was tell or was Tell Us Properties or tell us and this was your business. Yes. So as I was the founder of it it was founded. And did you come to be part of Douglas Elliman. You know I know you existed and I’ve seen you and you’re certainly you built this huge social media personality and everyone knows you. But I’m really not sure about how it came to be. How did you come to be with Elliman?
Peter Hernandez: Well it’s interesting. So I mean I made this continue a little bit about my career and then it’ll at least Harvard do how tell us was formed and then we could talk about how Douglas Elliman Bob.
Tell us so. So I know it’s interesting you know Ed you know how you have goals and dreams and I had I always had goals and dreams the back of my mind that you know I’d be a top agent you know which I actually accomplished that you know maybe I would run a company for somebody which you know is something that I’ve accomplished and you know maybe I’d have my own company something that I that I’ve accomplished.
And so those were ideas in the back of my head that I always held them close to my heart but I never really wrote those three things down and I’ve always been a very goal oriented business plan type person. So you know I rose in the ranks of an agent. And then when you’re I just said I’m just like I’m not sure I want to sell more than 40 properties a year. That’s just a lot of work. So I went to John and I said Hey Jack. I said Do you mind if we discuss I’d really like to talk about you know becoming president of your company and running it for you.
And he looked at me and kind of chuckled and said well maybe you ought to be a manager of an office first and so that was my beginnings. So he made me manager of the office I was him and I wrote that I grew that. And then when he sold to Coldwell Banker he gave me two offices in Beverly Hills that I just exploded through. I mean excuse me in Santa Monica but I just exploded through the roof. In fact they were actually more profitable than our Beverly Hills office at the time.
So it was really a really fun thing for me and my idea was you know maybe I can do through other people what I was doing through myself and I wanted to learn to kind of be a leader and a motivator and a business person rather than just you know my own personal business as an agent. So that was really fun. And then when Coldwell Banker Bob John Douglas like a couple of years in I got a call from Bob Becker. He said Hey Peter you said I want you to meet with Mike Good night.
And when I met with them they said we’ve never done this before but we want to promote you from where you are all the way to president. And they were breaking up Co-op Bank or California into three regions they were breaking it into a northern cal L.A. instead Orange County and now excuse me Northern Cal I guess that’s for reasons Northern Cal L.A. Orange County and San Diego and we’d love you to be president of our Orange County company.
So I was like I got k now it’s scary for some reason but I but I did it because I’d never lived outside of L.A.. That was my power zone. I’d always been on the beach from Dennis to Malibu and growing up Pacific Palisades was a big part of my life. So moving north county which first of all very scary for me and then becoming president of a company. I almost I almost like I remember waking up in the middle of the night. I called my wife and I go Honey I think I’m coming home.
I don’t think I want this job. She says Peter what you just you know go see what it’s like before you decide that and and then you know the rest becomes history. So I did that for five years and I grew it from seven hundred and fifty to fifteen hundred agents and it was doing really really well. And part of the of that adventure was we acquired a company called strata properties and it was an amazing company. And and in that kind of planted the seed that maybe I might want to start a company at that point.
So lo and behold you know this sky that one of my good friends and coach came to me and said hey Peter I’m looking for you know this person you know there’s gonna be this guy starting a company in Los Angeles and he wants to pick our brains do you want to go out there and talk to him. So the three of us went up and we met with this guy up in L.A. who was starting this company and when we laugh we’re walking down the hallway and it was a very funny conversation because we all said well we’re not interested in that company but one of us asked the question What would we do with us three started one and that was just the beginning.
Just like that. And then and then we had meetings at my house every night for about a year you know and you knew you draft the most amazing business plan you know that you could possibly put together it was. I still have it to this day. It was just incredible it detailed you know you do every analysis you can. Financially you’re trying to figure out you know where the holes are in the market and what you can do to build a very very successful business. And then you know we’re where we’re getting ready to launch.
Tell us. And it was funny because when you’re doing this the interesting thing is everyone says they want to do it and then when you get ready to do it they all kind of get cold feet. It’s a very funny experience. So one of the partners and I we were talking on a Saturday morning and we just said to each other why don’t we just go hang a shingle and if they want to join us great.
If they don’t we’ll do it on our own. So as soon as we as soon as we committed then you know the other partners jumped in and off we were to the races and we went out and raised a few blocks opened up an office and grew up to follow the plan. It’s your fault you know. Yeah. That’s a great question. Yeah you do. I think you follow the I’ll be honest with you we followed the intent and the cultural aspects and the crucial word I want to use the ethos but maybe the underlying value proposition of what we were doing.
But MasterCard it’s like as soon as you open the doors it’s like everything moves. Everything changes you’re at war and you’re calling audibles and and it goes to that and then you can go back to the plan for your inspiration. But I would have to say that a lot of our original plan went out the window.
Sure. Well Mike Tyson famously said everyone has a plan until you’re punched in the head. That’s exactly right. I think it’s actually a very intelligent statement to really stop and think about it. So bringing it forward. We have a you know I want to I’ve got so many questions that I want to get to here. Yeah you at that point founded around what what year was that.
Peter Hernandez: You were saying before I was in 2000 and 7 November we launched you know we get to you know the first quarter of 2008 more in the Great Recession and I’m looking up at the TV and I’m watching people rate banks and I’m thinking to myself oh my gosh are we ever going to sell another house. And that actually was a good thing because that taught us the disciplines of how to run a business and how to be you know fiscally responsible so going through those recessionary times gave us two edges. One is we were a growth company we were building not not most companies at that point were scaling back.
So we were a nice contrast to that. And then the other part was you know we had to be smart because you can blow through money quickly or when you’re in a recessionary market.
Sure. Now you could blow through the money quickly in any market. So it was 2007 and you when were you approached by Douglas Elmendorf did you approach them.
Peter Hernandez: Well you know we were this was the sale closed in August of 2017 so we’ve been two years with Doug Gross element. And it’s been an amazing amazing adventure a great great partnership great company and I’m really happy about that move but it it was two years prior to that I guess would have been 2015 everybody was talking to everybody. So you know you know whether it was all the small independents you know the big companies the coal bankers the Birchers everybody was like trying to you know merge or acquire or put these things together and in most cases and you know we were just either we didn’t like the culture of the firm or we didn’t think our agents would roll with it or like it.
Or why are we doing it. And so many of the companies you talked to were losing money and we were making money. Tell us. And so you know we were thinking to ourselves Why would we team up with this. They have great agents they have a great marketer what they’re losing like so much money. I mean why would we let them bring us down. And so it was right at that moment and we decided to go on our own where we were at 22 offices we had six hundred and fifty some odd agents we were selling a boatload of real estate we thought you know what let’s just let’s just go it alone we can we can you know we can continue as we are or maybe we’ll go get some joint venture money or maybe we’ll you know you know you know see what happens in the future but let’s just keep building a thing because it’s working.
And it was at that point that you know Douglas Elliman came along and it was the first time we went Wow this could be really good we should really think about this. And it was just because of the element brand it was because you know the sophistication of the firm it was because that you know you had the great international you know it just had the luxury vibe and feel it and stuff that we thought would be maybe the greatest place we could put our agents at the end of the day.
And so you know we all we all and all our partners were like Yes. And it was funny because I was very very I actually asked a few agents I would go out to the marketplace and say you know if you were to go anywhere where would you go. And it was always Douglas Elliman. And so it was like they answered the question for me in a way and you know we thought it was you know becoming a billionaire’s game no doubt about it that you know you know small brokerages to compete or it’s going to be at a huge disadvantage.
And so we knew that we couldn’t remain midsize. We knew we had to grow or possibly even shrink right. We might have to change our plan but you can’t. It’s really difficult I think for the mid independents to compete. It’s very tough. Like if you’re a small broker like let’s say you have you maybe a few agents you’re doing property management covers the bills you’re making sales and you’re buying and selling it for yourself. You know you don’t compete with anybody in that model you’re just you’re just you’re going to sustain and you’re going to be fine.
But when you’re you know midsize and you’re competing for agents and you’re and you’re really out the marketplace competing for listings having that big brand and the power of the big brand behind you makes a huge difference tremendous difference and you don’t have to explain who you are.
You don’t have to explain what you do. I mean it’s almost like you hand a business card out and it’s and it’s done. So I mean it was like it was funny and you know we met you know with Howard and basically we talked for a few hours and it was a handshake and a done deal. And it was just it was just beautiful.
And at that time how many agents did you have and how many do you have today.
Peter Hernandez: Well we had 650. And I think we’re approaching 800 now so hundred four hundred fifty more agents since since the acquisition.
So for anyone that might be listening as you know this is a podcast for real estate agent and we have listeners all over the country hopefully at some point all over the world when they’re trying to grow out their business be it the one man band or the small group. What advice would you give them as far as you know the the stuff that you learned from the growing pains along the way what’s the one thing you know there’s some kind of you give I know one thing and those people always trying to tie it down to one tiny thing but let’s do what we can.
What is something that you would. What advice would you give someone who’s trying to form a group and grow it out today that they might not be considering.
Peter Hernandez: Well I mean you know we’re in business planning quarter right now. I mean every agent on this call should be thinking about their business plan and you should be thinking about it right now what you want to accomplish and do in 2020 but I think that what’s lacking often in business planning is the dream in the beginning you need to have a big dream to quote Martin Luther King. You need to be imagining that you’ve built this something whatever it is that you want to build and grow.
All right. Once you have that dream and then you have to kind of you know you have to add into that you know what is your family like to look like you know where do you live where do you you know what do you know. What kind of health are you. Are you in at that point you know you have to look at the whole picture not only your business but yourself personal a family everything. And then it’s almost like a vision board but it’s even more than that I say is you going to step beyond the vision board where you you’re envisioning this end product that you’re going to work from.
And then if you have that in place and it’s cemented in something you’re very very passionate about. You can build backwards you can engineer backwards. What you need to do to get there and how long it’s going to take you. But I think people will say like in their business like OK I’m going to make 10 calls a day I’m going to do open houses once a week you know and they lay out the the the the tactical plan but it’s not going anywhere. Joining because they don’t have the vision the dream and you really I think to be big I mean when I look at the big agents in our company or in the world you know they think so big they think so big.
I mean I mean top agents are making you know 24 million dollars a year. I mean that’s two million dollars a year a month you know. Sure. And other agents are thinking about how do I make my next sale so that the difference in thinking between those two things is so wide and so far. And you know and when I talk to agents I like when I talked to you you’re a great example and you’re a big thinker and that’s and that’s what that’s what. And that’s what I think is the big deal.
I think that’s number one
OK. And so so great. That’s step one for starting the group. You know one thing that I’ve discovered since you’re now my fourth guest on this on this podcast that anyone seems to have a ritual. They have some type of. They wake up earlier than everyone else. I mean this is and I’m telling all the agents or listening to this they don’t watch much television if any at all. They wake up super early. They’re athletic. Oftentimes the religious or spiritual are there any other characteristics that you’re seeing from the top producers.
I mean you’ve seen the winners and the losers. We’ve known that already. Is there any you know underlying characteristic among the people who consistently win that you can share with us?
Peter Hernandez: Well I think eat it on the head. I mean one of the rituals is is is getting up early. I mean I get up a quarter or 5:00 every day. I go to my same chair. I do my spiritual readings. I do affirmations. I meditate. You know I mean I I plan out my day. I though return all my emails.
You know I might read a few things and then I’m at you know cross fit by 6:00 a.m.. So now I’ve mentally physically and spiritually put my position self in position to have a great day. So it’s almost by by seven o’clock eight o’clock I’ve accomplished more than most people will by 12 o’clock that day. So I’ve got like a four hour head start on everyone I’m going and I go to bed somewhere on 10. You know I mean like sometimes I’m really exhausted I’ll climb in at 9:00 but I but I but I think that you know that that being the bed earlier early rises is is not the aspect that is the formula for success.
And you feel better you’re healthier you’re sharp. I mean I get it. So people are nocturnal. And for those people I think you should continue along that way if you’re productive at 11:00 o’clock at night and that’s when you turn on you know to force yourself into my plan I think would be hard really hard.
In fact I was not a quarter of five guy. I mean I had to I was an eight eight o’clock guy that I wake up and I had to work it back because I wanted that I wanted that because I heard all the CEOs all the great musicians all the great musicians necessarily but some musicians almost every CEO you know were were starting their days very early and there’s something really neat about it when I’m out the quarter of 5:00 and everyone’s still sleeping. There is a energy you can tap into that you can’t tap into at other times because no I I believe that no one else is drawing on it at that time. So it’s very very powerful.
Yeah look I. VICTOR CURRY from one of your officers is on my Wednesday morning think tank which is 6:00 a.m. I’m actually quite surprised how many Californians they get given that we’re operating on East Coast time 6:00 a.m. I have him I’ve got Deneen Kern they sometimes have Connie Blankenship I’ve had a whole bunch of folks from your way and they’ve been terrific I mean they really do share some some great stuff I want to ask you this because you know I’ve read it. I quote it when I look at you I think it what it does keep it core actually mean to you. And is it’s something did you coin that phrase.
Peter Hernandez: Well you know I mean I think one of the things that comes with the experience I’ve had you know I mean it’s it’s been you just can’t take away the fact that as an agent as a manager as a president as an owner you know you know seeing the business from so many angles being in the business as long as I can being involved in those made transactions that I’ve had over the years you know there’s a there’s an experience and wisdom in learning that comes with that you know whether you’re smart or not you’re going to you’re going to pick up some things.
And and so you know when I look out in the world today you know everyone’s looking for a hook and angle the five hacks the three tricks you know everybody. And. And then if you look at those things then you go one step further and you and you look and say well who is saying this. And you realize they’re 22 years old they haven’t accomplished anything in their life and they’re just there. And there are these like how then they’re influencers of millions of people. You know I think I think we’ll keep a core means to me.
What are the basics. What are the things that really really really work. Like for me I think like online leads are really good. If you’re good at them and you incubate them and you work out from start to finish. But honestly they’re the coldest leads you can get there when people first go on their computers looking for property. So that would not be a core element for me doing an open house would be core because open houses when people are looking at open houses are pretty serious or sellers are coming by to look and see how the House compares to theirs.
Having conversations face to face you know I call it back to basics and it’s all of my millennial friends all the people I know that you know we’re a big part of this online lead experiment and a big part of of of you know the technological revolution that’s been going on are going back to basics. You know my millennial friends are saying call me I want to talk to you about it. You know we hear they all want texting is for like the quick answers and quick communication. Great stuff great tool. But when they want to talk about buying a property it’s not by text as much as by you know having a great conversation.
The thing about the kids today they know what they don’t know and that is is is really important. So keep a core to me it would be like you know how do you become the best version of yourself how does add incrementally everyday become better than it was the day before. Physically mentally. Work family is a friend spiritually emotionally. How does add.
Look it isn’t only on a daily basis and what is he doing daily to advance it. I think that’s what he looks like.
I the core is like if I to keep a course like it’s like getting to your core self maybe getting into your into your roots. I don’t know where I came up with that that that expression it was like like third year into tell us properties and it just became my mind occurred. I don’t even know why I did that. Now I walk around. People say to me keep a car and I go that kind of sound silly but I guess I’ll stick with it now.
But you know what. It’s your tag and it works. I just saw a woman working out at the Palm Beach office today and there’s a woman who said yeah I need to be somewhere in an hour and a half and I’m kind of tired now and I don’t want to start the thing because you know I’m like finish the sentence you don’t want to start anything because why I said What’s the worst thing that can happen. You only get 20 minutes of calls and as opposed to the full hour and you know what the worst thing to happen be.
And I’m pretty proud of myself because I encouraged her to get on the phone and I think she got an extra meeting out of it. So it is incremental success. And I think you are such a positive force a nice guy. I never you know one of the things that’s so nice is everyone always smiles when they mentioned you and I’m always I’m going for that kind of character on this on this podcasts because I once read a bumper sticker that said mean people suck and they really do. But that is we’ll keep it friendly let me just ask like two other things.
And then we need to move on. I’m buying services. You were saying that people know what they don’t know and there’s some people that just get involved in the technology. There’s a lot of buyers out there that are saying when a lot of futurists that are saying that we’re somehow becoming somewhat obsolete. Do you do you agree with that at all. Is there anything that we should be doing to protect ourselves as agent?
Peter Hernandez: I I I I don’t really believe that. I mean here’s what I do believe that the business can be done by fewer and fewer agents. And I think that’s because a little bit of the waves were set up. I mean everyone charges the same rate basically. So if everyone’s basically charging the same rate which is very very unusual and isn’t done in any other business I don’t. Lawyers don’t do that accounts don’t do that doctors don’t do that when you really look at service businesses. You know it’s usually a rates based on your skill level.
But our industry approaches it differently and it’s worked for years and years and years and I don’t suspect to change. So if that’s really what’s going on and I’m going to pay X percentage fee to an agent that I’m going to really look carefully at who I’m hiring because that’s going to be the determining factor who’s the most skilled the most knowledgeable the best track record who’s the one that’s that’s going to get me from a to z the best. And that’s not how I’m going to you know choose an agent. So I think what’s happening and you’re seeing this is that that fewer fewer agents are doing more and more of the business because clients have access to more information so they know who those great agents are more easily than before.
So that’s one thing that I don’t and I’ll confess to having not studied the buyer thing probably as well as I should have. But here’s my cursory interpretation of it.
There used to be a company and they’re heading there still may be in L.A. and they used to put these yellow posters up on the telephone poles around town and it would say we buy ugly houses. And it was virtually Stockholm. Yep and it was virtually a you know people are trained to make wholesale purchases of people’s properties that don’t care and want to get rid of them quickly. I see a buyers as the internet version of that. I see buyers as a company that wants to buy things for a discount.
You know they mean and they’re going to do cursory appraisals like Zillow type appraisals and they’ll buy them and they’ll probably say that property we should buy at 30 percent less than that and they’ll make an offer. If someone wants to accept it. Great. But I don’t think that’s the typical seller. I think the typical seller wants retail and they want retail plus and that’s why they’re going to top agents to try to try to achieve that. Sure. Sure. So I don’t know if that will now be my impression.
And that’s I think the answer is there’s no real answer yet to address. Right. Hasn’t happened. I I do think back to a time when the president of the National Association of Realtors. I think with 93 famously said The Internet is just a blip it’s not going to be any real maybe ninety five any real it’s not kind of a real place in the of frequency say well they could not. That’s wrong. Part of the truth. But that said I do believe that what the most interesting thing to me is the top top top people that I see are the least technology savvy people I’ve ever met.
The people that are really making the big bucks in the business they really have phenomenal relationship. That’s the model that I’ve been trying to go after private agents. So you know that’s what we’re hoping for.
Peter Hernandez: What’s interesting one of the top one of the top agents in this town is so big biggies like and he did a half a billion in this first quarter. And this particular agent you know doesn’t advertise doesn’t have he barely has a Web site. But boy does this agent have a database and there’s this agent.
No all the top players in town and this agent has an uncanny ability to connect dots. So he talks to you discovers you’re selling your home. He knows exactly who in his database will buy it and he puts it together and that’s how he does all of his business. Now that has very little to do with technology and I’m not saying technology is not the greatest tool in the rocks. I love technology. I am an early adopter on everything that comes out. I find it fun. I like it.
I like online marketing. I like everything about that. But at the end of the day I’m not talking to people if I’m hiding behind technology. If I’m hiding behind text messages and emails My business is not going to be as good as it could be pieces of it.
It’s a great assist but it’s not a replacement. And I think that I think something really important for people not yet that said that there’s a couple of things that I want to let everyone know about just prior to us ending today one I will be hosting for Douglas Elliman agents a cocktail party in New York City sometime in January Elliman agents please look for that invite to my friends here in South Florida on February 18th. I have rented the ballroom at St. Andrew Country Club. I will have Howard Lauber speaking on a panel with Bruce Toll CEO TOLL Brothers.
And we’re going to be discussing various real estate topics and how it’s affecting our economy. If you are interested please do reach out to me. My contact info is everywhere. And Peter just the last last word. Any any of us on you’d like to get agents before we sign off anything. Anything else that I might not have asked. I could kind of edit in here.
Peter Hernandez: Was funny because I was just working with an agent a little earlier and I would say you know that the two top traits of successful people one is you know their work ethic. I laugh at the Tim Ferriss Four Hour Work Week. If I did that I’d be so broke. And I’m sure if I put a book out to set 90 hours a week I’d still be broke. But it’s like work ethic is every I don’t know an agent that is really successful and it just doesn’t have an incredible work up a trust number one.
Number two is you know what I call bounceback ability. I mean when you got punched you can’t like stay down another Mike Tyson you’ve got to get up and start swinging again. And you know agents that keep adding up you know all the deals they lost and if I had sold out I would have sold 100 million in real estate and they just keep adding it up. You know that’s not going to propel you forward. You’ve got to forget it. Like water off a duck’s back and keep moving forward.So I always give agents like 24 to 48 hours for remorse and then you’ve got to get going yes
No let’s go go into a quiet room blame everyone blame your mother blame your father blame all the things the teacher that didn’t give you the right thing and then afterwards say OK I’m going to forget about it move on and I couldn’t agree with listen my goal this year I made it very public the psychologist called conversationally committing. I put it out on the Internet that I’m going to quote that she deals this year it looks like I’m in a close 22 this year.
So one could say Well you lost. OK. Maybe perhaps you could look at it that way to me. I think that’s pretty good. I would have loved to hit that 50. So my goal for 2020 is to do 50 because I never accomplish the goal this year. But had I not the goal it would have been less than that.
And I think strides forward that matters harder for a set.
Peter Hernandez: I rarely hit goals I set but they’re so big that what I’m hitting his head right so so that that that’s wonderful. What do they say. Shoot for the stars and you hit the moon or something like that. There’s nothing wrong.
If I ask the world for diamonds and if you get a good pair of Reebok you’re doing pretty well. Anyway besides that says Peter you. You were terrific. I hope that we could have you back at some point in the future and I hope to see you I don’t know if you’re going to be at the Elliman event in March in. I want to get by to help you. Yeah I will. And and thank you for for for participating and for coming on making a smarter age and I appreciate your time.
Peter Hernandez: Thank you and it was an honor and a very much fun. Great talking with you.
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