I was one of the largest conflicts between us and China was that literally that plan which kind of interesting hey guys welcome to another episode of break it down with Braden I got Daniel Brown on me today Daniel thanks for joining thanks for having me Brayden I appreciate it absolutely Daniel is the owner of myriad Real Estate Group and uh how long you been in the real estate business Daniel I've been doing real estate in Phoenix since 2007 so what's that uh was that 16 years 16 years yeah 16. well times flown I know we were just talking about that in my head where is the time gone yeah and how long have you on the team uh I've been running my own team since 2014. okay yep very cool and what is the team consist of uh so right now we're a team of five so I've got uh two admins so a TC who is more than just a TC she acts as my CEO she really kind of runs the business in the day-to-day um and then I've got an executive assistant or an office admin and then um a showing agent and a listing manager what what are the showing agent listing manager kind of handle uh so the showing agent I run my team different than most real estate teams uh as you're aware so everybody's 100 salary instead of commission so they're all W-2 they're actually my employees and the showing agent helps me show homes you know um and so they're out in the field letting clients into properties helping me set up home searches and just really kind of helping the me with the day-to-day with our buyer Alliance and then same on the listening side so my listing manager comes with me on all of our listing appointments takes notes make sure all the promises that I make to our sellers actually happen so they're scheduling vendors and contractors to go out they're checking on our vacant listings every single week they're calling agents that show our property to get feedback and again just kind of helping me with the day-to-day things that go into being a successful listening agent um you mentioned that you run your team a little bit differently with having people being salaried employees how does that kind of help differentiate your team I think that for uh for me it gives me more control over the client experience because they are implementing what I want you know your typical team has 1099 contract employees basically that are commission only they go out and they do their thing they close the business they split it with the team lead whatever that split looks like for me I'm in control of the entire client experience so I do all the onboarding for both buyers and sellers I'm doing contract negotiations I'm handling the repair requests and all those big problems that come up I always say it's not a matter of if something goes wrong it's a matter of when and how bad will it be I am the brains behind trying to navigate through those issues but I don't have to show every home uh you know I've been doing this long enough you give me five minutes on a laptop I can do a property evaluation pretty quickly I don't have to actually see it in person and so I kind of do that higher level stuff making sure our clients have a really positive experience and then my team is helping me you know with that vision and really kind of help making sure that our clients have that ultimate positive experience yeah I think you've uh really created a well-oiled machine of what you've got over there and I think you've actually created a business which is what I've seen more a lot of people in real estate are real estate agents and they're selling houses which is great but they don't actually create a business and it seems like you've actually really created a business and you've also gone after other businesses for referral networks and stuff like that which I thought is really cool kind of can elaborate kind of on how you've kind of done that yeah I mean when I meet other Realtors or or team leads and describe my my what I do and how I operate my team they're always like wow that's really different and and I don't think it's that Visionary I'm just running a small business it just happens to be in the real estate World which on its own is definitely different and I think you're right that most people who are in real estate are not business owners and for the most part you're either working in your business or you're working on your business and my goal is to work on my business I don't need to work in it that's what I'm hiring people to do right and then partnering with vendors can you give me more like how do you want me to elaborate on that um as much as you want oh well I mean so I I try to partner and I want to be a master connector right I've got a super deep Network and I want it's really hard in this industry to continue to provide value to your clients you help them with the real estate transaction and they're typically done with you four five ten fifteen years right so how do you stay in that person's life and continue to provide value after that transaction's done well you do that through connecting them with people that are going to help them in their daily lives and so I want to partner with and I want to align with other professionals who want to provide a high level of service to to clients as well whether that's wealth management estate planning um you know unfortunately people are going through divorces so it's not just related to housing I want to be able to connect people to to anyone and be that Matt like do you got a guy in this field and odds are because of my network if I don't have a guy I've got a guy that has a guy right so I can be that link in that constant resource that my database my friends my past clients can constantly go to four connections yep I love that notion that's the I've got a guy you know it's it's you got to be the guy that's got a guy yeah you know and you're the resource for everybody when everybody needs something it's it's gonna be uh extremely valuable for you because people are always coming to you for something and then when they actually need to purchase a house or whatever they're going to come to you because you've helped them with everything else correct yeah that's the idea yeah I had a team on here actually that talked about uh the importance of working for free and I thought that was cool because it kind of really talks about really you know you're really getting involved with their day-to-day lives and helping them with other things outside of just purchasing their property and really building that relationship absolutely I think that that is the foundation of most most businesses whether you're b2c or B2B it's all relationship building right you want to have deep relationships and that's how that's how I go about it is trying to be the guy that has the guy uh I know we mentioned you've got a new Niche you're going after with kind of the assisted living facilities and stuff like that can you talk a little bit about that yeah so I I you know the market has shifted and over the last few years everybody and their mother refinance on those that purchased the house got into interest rates that were sub four percent and so we are in a low inventory environment and I think that that is going to continue for the foreseeable future because not a ton of people are motivated to sell out of a two and a half three percent interest rate to go into a six to a seven percent right and so I I started thinking about who are those individuals that really need to sell and how can I get in front of them and I had started this program to work with estate attorneys and really try to help their clients who are going through a loss right somebody has passed away and they have this this this asset that they have to deal with so how can I help that family that's going through that process and so I created a program specific for estate attorneys where if a family's going through that that we'll cover all the expenses on the front end we will work with an estate sales company we will work with uh certain uh non-profits to donate items uh you know trash out companies for the things that we can't sell or donate and then we'll even pay for light remodeling if it will help the home sell for more and it's really to take all the pressure off of the family that's going through a grieving process to help them sell that home and I noticed in helping clients like this that if there's multiple siblings there's usually a lot of infighting that can go on you know money tears families apart and so if I can remove that stress and say okay family you don't have to worry about any of the financial side of it I'll do it yeah I'll worry about all that you approve it and then once the home sells I'll just pay myself back there's no markup there's no funny business all I want to do is sell the home and if I can take pressure off that family I will and so I decided to expand that program to help people who hadn't passed away where the family was transitioning them into an assisted living Care Facility Memory Care Facility but they still have that asset that they have to sell in order to pay for that care and so I've started working with and reaching out to the sales directors the community advisors of these assisted living facilities and these aren't like my grandparents nursing homes these places are really nice uh they look like college dorms but for older people people are having a great time and I learned by going through this and seeing these places in person that it's giving people purpose and it's actually giving them Freedom back and it it's Community too it's a community you know we are social creatures we need to be around people and it's extending people's lives it gives them a reason to get out of bed to get themselves cleaned up they have friends they have cocktails they get you know they can eat they have a dining hall and it's not just a signed food like you get to actually order what you want and dance nights and card nights and all kinds of stuff they're having a great time and they've worked so hard you know and they have this huge asset in their home and a lot of times they have to sell it to be able to fund that yeah they're not cheap right and so I've been I've been working with the sales directors and the community directors of these facilities to try to offer these same services that I was giving to estate attorneys but now give them to individuals that are still with us yep yeah that's huge I think that's uh the big thing that probably sets about your team apart as like we kind of mentioned earlier but the business to business side of things is just so huge as opposed to buying online leads or you know calling all your friends and family and asking for their next transaction it's like you're gonna you're building a referral source and I can a constant uh Network you know people that are always going to have to come into these things and I'm always a churn and out to the next one and yeah um what I found in those because my grandma's gone through a couple of them is then they're constantly moving out of them too because so and so they build a relationship and then that relationship is no longer or they have a falling out and then they don't want to stay in that complex and they move to the next one or right whatever there's constant influx of those so and they're not they're definitely not cheap they're not you know a lot of amenities yeah they tend to run you know for your your average one somewhere three to six grand per month yep which I mean that's depending on the level of care too exactly like a caretaker or how much how much service or whatever they really need yeah and and I also I work with a reverse mortgage specialist and I know pre you know 2008 reverse mortgages have a really bad connotation with them but they're actually really fantastic pro products for the right people and the right people can be individuals where if you have a spouse or partner who has dementia or early onset you need to get them into one of these facilities as quickly as possible before it gets too late and my grandparents went through this and struggled with it and and so I have have empathy for what they're going through and you can use a reverse mortgage where if I'm not ready to sell the home me myself I'm not ready to go into one of these facilities but my spouse does for the dementia side of it you can utilize a reverse mortgage to pull from your Equity to help pay for it so that person can go into and get the care that they need while you still get to maintain and own your home so there's a lot of things out there that you can get creative and I think that that's where it really comes in it's really crucial to work with people who have those connections and have those contacts and it's it's more than just putting a sign in the front yard yeah right yep yeah I think just uh being educated on all that stuff so you could really advise your clients as to hey this is what you should be doing or this is what I would recommend or here's your options at least I think that's huge it just comes down to again providing value how can I constantly provide value what new things can I learn I just have a thirst for knowledge as it pertains to economics as it pertains to housing that I can get people from point A to point B in the most stress-free way you know regardless of the situation that they find themselves in yeah well it's smart too because it's the big thing right now is change up circumstances right of why people are moving it's not not necessarily that they want a new house it's that you know hey I've got another kid or someone passed away or they're moving for a job or whatever it's a lot of change of circumstance that are getting people to move right now as opposed to just like oh yeah I want a new house yeah I mean I think over the last couple of years it was I want I need to sell my house now to buy the next one I want to take advantage of these low interest rates the house I'm in is in our forever home so that was the trick then how do you help someone sell in order to buy so you're doing post possessions lease backs you know trying to figure out those things well what's the next trick as we go into this next phase and I think that that's it's forced seller I'm being forced to relocate so that is working with relocation companies who know HR companies those that are recruiting people in to Phoenix those companies that are recruiting out of Phoenix so you know how do you get in front of those individuals that know this stuff is coming up so that you're on the front line and you're the person that they talk to so there's any number of divorces right you know um so it's it's what are those situations where someone is in a position where they're forced to do a real estate transaction I think that is the next phase of real estate until mortgage rates come back down right to something that's a little bit more reasonable um what's kind of some of your Market predictions well I think we are going to be in a low inventory environment for the foreseeable future I think I think fundamentally Builders have changed their business models they've realized that people will wait an inordinate amount of time for a home to be built so they can build on demand they don't necessarily need to build a ton of spec homes and they can then maintain their profit margins I think the same goes for the Auto industry dealers realize they don't need to have hundreds of cars on a lot they can build to suit and people will wait 12 24 months for a vehicle if they really want to and that's exactly what they want and there's no haggling you can charge MSRP or more and and so I think housing is the same so I think home values the the worst if you want to call it in Phoenix was probably November December I was banging a drum as loud as I could like buyers this is a narrow window of time where you have all the power it's going to shift back to sellers at some point in time because mortgage rates are going to fall and it's going to be bouncy you know we see mortgage rates come down a little bit then they bounce back up they go up much faster than they come down but I think by the end of the year we're going to have a five handle in front of it so rates will probably be somewhere in the high fives you know 5.
75 to 6 and I think into 2024 will absolutely be in a recession and recessions are good for mortgage rates and we'll probably end up with something in the I'm predicting kind of four seven five to five and a quarter and what's super interesting to watch and see is purchase application data so people applying for mortgages that's always you know your leading indicator of what you can see in the real estate market and I thought rates had to get down to five percent for buyers to really come back it's actually six percent so anytime rates close come close to Six we see an influx of purchase yeah and so that once rates get to six and Below you're going to see more buyers come back to the market we're kind of seeing that now homes that are priced right that look good they're getting multiple offers again so you're going to see the old tricks uh from a couple years ago come out where you're doing escalation Clauses you know appraisal waivers or Gap coverage shortened and waived inspections like all that's going to kind of come back maybe not as crazy as it was but to a certain extent for certain homes it absolutely will yeah I mean you alluded November December was kind of like the buying frenzy there for a while or at least a huge opportunity um I've anytime I post like new stats or stuff that talks about the inventory or how fast the inventory is declining and things like that I get a lot of friends that message me that have been the friends that have been on the fence for a while and been waiting for the market to crash or waiting for everything to shift you know they're going to time it perfectly what do you say to those people I should I don't think anyone should try to time the market I'm not one of those people that just says anytime you should buy a home when it's right for you yep and you should have certain things in place before you buy a home I think that you shouldn't carry massive credit card debt right you should have your credit cards pay off before you think of buying a home you should have three to six months cash reserves set aside before you buy a home once you have those things then it's starting to save for your down payments I don't I'm not a believer in 20 down I think rich people get rich because they leverage other people's money to buy assets and I'm in the camp the things you put as little down as you can and to purchase a home because you're utilizing someone else's money and then you can take your money and invest it elsewhere to get a higher return um and so I don't think you can time the market I think you do something when it's the right time for you and staying within your ultimate budget yeah yeah I think the best analogy I ever heard is a time in the market is the most important versus timing the market yeah a friend of mine once told me the best time to buy a home was five years ago the second best time to buy a home is now right right so it's I'm I believe that the quickest path to wealth in our country starts with home ownership and I view a mortgage as a forced savings account so that money that you're putting in I just had this conversation with somebody the other day that was talking about they filed their taxes and they're like I just don't see the the benefits to owning a home like you used to yeah and that he was talking about being able to write off your mortgage interest I was like well what's your interest rate on your mortgage and he's like 2. 85 I was like well that's not very much to write off and the standard deduction on your taxes is so big right now that most people don't itemize and so yes if you're only looking at it for that minor benefit then it's not worth it yep but if you look at the payment that you're making every single month as a deposit rather than a payment you're going to get that back when you go to sell plus the appreciation or interest that the property makes over time it's still way better than renting right you get you're paying a mortgage no matter what you're either paying yours or you're paying someone else's and I think that all the people that think that the housing market is going to crash forget that people have to live somewhere and people aren't going to sell out of their home to be homeless or to pay rent yeah right if you're selling your home typically you're trying to move to a better yeah yeah most sellers become buyers right so that's one of the reasons why demand for housing is down but also inventories down because you don't have a ton of sellers who are then becoming buyers right yeah um what's the what's the goals for Myriad team this year uh I am in hiring mode right now unfortunately one of my guys is moving to Austin uh he's given us a long he's moving at the end of July oh that's nice so yeah super nice of him to give us that notice uh on the front end so I'm trying to hire to fill his spot so that we can you know keep the traction that what does that person look like uh he's a showing agent so he's going to help on the buy side uh primarily the nice thing about my team is that we're not because we're not commission only uh they're not competing against one another so there's a lot of cross training that goes into it so all of them step in to cover when somebody's out of town if I need if we need more help on the listening side than we do on the buyer side then they'll pivot and kind of so they get experience on both sides of the coin but it's primarily going to be helping uh our buyer clients it's a true team yeah oh yeah yeah yeah we have company culture we have Team meetings and I have a client or a client I have a employee who's on vacation right now and anybody who's in real estate knows that when you go on vacation you're not really on vacation there's plenty of memes out there right that show a guy like floating on a surfboard on his laptop right for me you actually get to unplug and go on vacation you know we step in we cover your emails uh you put it out an office a voicemail that you so you really truly get to unplug and unwind and enjoy your vacation when you leave because everybody is covering for everybody all the time and it's about the client not the individual so we have really strong company culture and it's just more of a cohesive unit and we're friends and it's just a much more enjoyable work environment in my opinion love it where do you see the team five years from now boy uh I mean hopefully my CEO is still with me she's been with me since the beginning and helped me build it she is probably the most important person on my team she's that type A personality that has all the strengths and the areas that I'm the weakest at so I would love for her to still be with me um and you know I don't have the bandwidth probably to manage more than 10 different personalities so I think that's probably the max that I I'd want to get to but want to continue to grow and have a sustainable business in this industry I think the challenge is always weathering it's very much a roller coaster and it's trying to flatten out that roller coaster right where it's it's constant business coming in regardless of the seasonality um you know I've found in real estate it's really hard because you do all the activities that you're supposed to do to get busy you start getting busy you stop doing the activities that got you busy and then all of a sudden you're slow then you got to do it again and then you get you know so it's that evidence Reinventing yourself yeah and so trying to do put the pieces in place to eliminate that where it is a well-oiled machine and just your con it's a just constantly being busy and having that the clients and the business come through the door yep yeah that's the hardest part about real estate is it's very cyclical it is super yeah we've got that this year as well as it's we we need a lot of volume and as a title company and so as inventory is down obviously that's that's down as well yeah but I'm super bullish on Phoenix as a whole I think Phoenix uh you know it's weird to say that covet I think was good for Phoenix we hung our hat for a long time that we were a big city but it's cheap to live here we're naive to think that that would always be the case and I think we've gone the way of your Denver Seattle's Austin's um you know name the big Dallas Fort Worth cities are just more expensive to live in and it caught up to Phoenix because it's an attractive place to be so we've Diversified our economies lots of different businesses are coming here I think Phoenix is going to be the capital of the United States in terms of microchip manufacturing with the tsmc plant going in out of all the Southwest states air Arizona's done a good job at managing its water supply so I'm really bullish on Phoenix in the long term super bullish on the West Side that's where Phoenix is going to push out and grow and so I'm excited for the future of Phoenix and we've got two of the largest Generations in U. S history and Millennials in gen Z who are all prime home buying you know they're in their careers so there's going to be a lot of growth and I'm Pro the United States I mean we've got friendly there's a lot of problems right like that's not awesome but I I am generally a positive person so I am a little bit biased but we've got friendly neighbors to the North and South we've got oceans on either side of us so we're in a pretty good spot when you think about it so I'm just I'm pro-arizona I'm Pro the United States and so I think you know there's going to be bumps along the way but if you're willing to work hard create deep relationships I think that's how you weather any storm I agree I agree I think there's a lot of opportunity to come into Arizona and we're in a good Market to be in it and there's a lot of stuff going on politically around the world right now let's kind of see how things kind of pan out yeah I've actually done a little bit more research into the Taiwanese semiconductor plan and how how much political strain that actually has on the United States and China and that's actually one of the biggest issues between the United States and China because that's going to basically make the United States the number one player in microchips and we're pulling that from Taiwan which is obviously across the channel from China and so they're not too happy about that no they're not that's a big issue I didn't realize that that was one of the largest conflicts between us and China was that literally that plant which kind of interesting when you start doing some studying about that so I mean they're watching super closely in the Russia Ukraine conflict for sure to see how you know the West handles that to see what would happen if China was to do anything with Taiwan so you know we can't control the geopolitical stuff yep um but again I just I'm an optimist by nature and I think that nobody wants Annihilation so I don't think it's a zero-sum game right I just you know China started missing each other right it doesn't make sense so yeah I try to avoid the daily you know media outrage and the headlines because that's all it is it's not actually you know unfortunately the news isn't the news anymore and it's if it bleeds it leads in our world so it's always about what's the most uh hardcore headline that we can put out to get people upset no subtraction yeah and I think for the most part we can you know you and I can't control that it has nothing to do with our daily lives and so I'm just focused on my business my family my friends and the things that I can control um I I watch an interview with Elon Musk and the BBC the other day and he was talking about how how important it is for industry experts to be the point of knowledge as opposed to listening to news outlets absolutely and I thought that was really cool to hear and I'm like it makes a lot of sense as opposed to going to somebody on the news and listening to what they have to say go to the industry Experts of each of their Industries and ask those people because those people are the ones that are educated and actually know yeah and that's the same thing with real estate you know you're hearing all these crazy when we talked about it this morning with the mortgage headlines of Al Biden's screwing interest rates I did a video on that just yesterday exactly and it's like that's actually not the reality is there's some true cases to it but if you actually deep dive into it a lot of that stuff is already taking place and so they're looking for negative news they they absolutely are because again they how they get paid is clicks now and I I just I don't think that that's the way to do news is to you know pay for clicks uh Daniel this was awesome yeah for everyone who wants to get a hold of you how can they reach you uh they can reach out to me through my website myriadaz.
