Nathan Daniel (00:03):

What’s up, everybody. Welcome back to the broker to broker real estate podcast. I’m excited to have you here today because I have an extremely special guest. Are you ready? Here we go.

Speaker 2 (00:16):

[Inaudible]

Nathan Daniel (00:17):

Hi, and welcome to the broker to broker real estate podcast, where we are on a mission to interview successful real estate brokers and industry leaders. So we can learn what’s working and peel back our industry so we can all work together. I’m your host, Nathan Daniel. Welcome to the show. All right, everybody, like I said, welcome back to the show. I’m excited to have you here today because we have a very special guest all the way from Dallas, Texas, miss Tanya Endicott. Welcome to the show. Hey Nathan, how are you doing? I’m doing fantastic. Fantastic. So I know we connected recently on, on LinkedIn and I was looking at your profile and you’ve got a lot of great stuff going on and I wanted to have you come on the show. You’ve been in real estate for a while and I just wanted everybody to hear kind of what you’re doing. What, where are you saying wins right now in the industry? Like where some opportunity for all of us to grow as brokers as we’re leading people. So one, welcome to the show.

Tanya Endicott (01:22):

Thank you. Thank you so much.

Nathan Daniel (01:23):

Yeah. And tell us, tell us a little about yourself. Where are you at? Like as far as like area wise and like how many agents do you have on your team right now?

Tanya Endicott (01:32):

Sure. So I am in the Dallas area and North of Dallas. And, but that’s, that’s the area that everybody knows. Like, so if I say, Hey, I’m from Frisco, Texas. Most people are like, well, I don’t know where that is. We’ve got about five people on the team right now. I’ve had up to nine people, plus four staff on my team. So have had a bigger team before figured out really early on that it was best to have just a few core agents that are really hungry to work, as opposed to many agents who are onesy twosy, then this peer for three months. So but I’ve been doing this 20 years. So been around a hot second for sure.

Nathan Daniel (02:19):

All right. So you’ve seen some change in our industry. I know when I got started in Oh nine, I mean, it was the biggest bubble and I was actually there in Richardson is where I started. However, you know, Oh, nine people are like mass Exodus of realist. I’m going, yay opportunity. Let’s get in and do this. But like, so you were, you’ve been around longer than that. Like you, you’ve stuck through this and you’ve seen the highs, you’ve seen the lows and really what spurred the launch of this whole podcast is everything that’s been happening in 2020 a lot. So many people were like, Hey, it’s, it’s a new decade. We got a new 10 years of us. It’s going to be amazing. Here we go.

Tanya Endicott (03:02):

Right.

Nathan Daniel (03:04):

Right. And the world just has gone crazy. So with all of that being said, what are you seeing? Especially with 2020, like in today’s world, as we’ve gone through the first seven months of the year, like, what are you seeing right now in our industry?

Tanya Endicott (03:23):

Well, I think it depends on your market. Okay. So, and I’m super leery of people who are very blanket overview of things, because there’s no way that that can be true for every market or, or even majority of the market. Okay. So real estate is very market specific and you have to make sure that wherever you’re getting your information, you’re getting it from your market center. Because if someone says, Oh, everything’s going to hell in a hand basket. Well, that’s not that that may not be accurate for your market. So Dallas has a really, really strong business market or relocation market. And, you know, California tends to be the driver, I think, of real estate. So what happens there tends to kind of trickle down and people see it happening in their markets later. And I always liken it to that stone throw effect.

Tanya Endicott (04:20):

Like if you’ve ever thrown a stone in a pond, you’ve got one ripple and then another ripple and then another ripple and another ripple. And depending on where you’re at in the ripple, like where it started could be completely fine by the time the mass destruction gets to you. So that’s why I say just, just kind of be aware of what’s out there in our market right now, prices are up. We have lots of buyers. We are getting multiple offers on things. If they’re great houses and our market is very strong. So we didn’t, we didn’t really experience the slow down that some of the other markets did. Like I know for our office, we had one of the largest months since the assistant has ever been there.

Nathan Daniel (05:10):

So I looked back at a lot of the opportunity here that well, so many homeowners have dealt with is, and I know in the beginning of the year, like as all this started picking up, they were, they were predicting like even NAR had some conferences going, okay, we’re going to get to a massive shift and real estate could come to a screeching halt. Well, all of a sudden the federal stuff started kicking in the heroes act and everything else started kicking in. And it talked about the borders for parents. And I think right now that’s really, what’s kept a lot of our economy strong, especially real estate. And I mean, still mortgage rates being at an all time low. Yeah. I mean, it’s a, when I know, I, I always look back and so we sold actually our house. We lived out in Wiley.

Nathan Daniel (05:57):

I’m sure you’re familiar with where that’s at. We lived out in Wiley and I sold a house out there and we ended up, Oh, I don’t know. I w we may probably 50, $60,000 from the time we bought it in 2010 until 2014, like made a great income off of that. However, like looking back and knowing what it is now. Like I looked up that house recently and from the time we sold it and to what it’s value is today, I think it went up by a hundred grand, for sure. So Dallas is super hot and I totally get that. So now you said you have five people on your team right now from the leadership perspective and leading that team, what would you say would be the greatest lesson that you’ve learned as a leader in the last six months for your team

Tanya Endicott (06:49):

To keep people motivated? I mean, so it’s really hard when you are drugged down by the media, by other naysayers. I mean, because, you know, if you listen to it, people are gonna pick out from what they hear on the news and on Facebook and all of these other places, and they’re going to make it apply to what they want to hear, because we all have our filters. Right. And that’s what most people do. That’s why it’s really hard to get your news source from one place, because you hear one person’s perspective and you hear it through their filters. So keeping people motivated is really the key when you’re going through something like this to say, you know what, that’s okay. It’s okay. If that’s their experience, it’s okay. If they don’t have a closing or that they’re struggling, or they’re saying this, that’s not the reality.

Tanya Endicott (07:48):

Our reality is what we make. Okay. So it’s a mind shift mindset shift, and it’s, it’s about, you know, Hey, let’s, let’s figure out what are you doing right now? Why are you feeling, why are you feeling a connection with what you’re hearing over the media? And let’s figure out how to chop that, to cancel that connection and, and refocus on where we said we are going to be for this year. So that’s kind of, that’s the big thing for me is keeping people motivated, keeping them moving forward. Cause if you don’t have momentum in real estate and you stop, then it takes several months for you to realize any momentum that you start again.

Nathan Daniel (08:36):

Okay. So I love that, right. It’s, it’s definitely, it starts with mindset. Cause if you get lost in the, I mean, that’s why I don’t watch the news anymore. I mean, it’s because of, of just the complete negativity and how it’s all proposed to us. Like, and that’s why we’re getting into this real conversation right now, but how do you keep track of your, your assist or you’re on your systems, your agents that are on your team, how do you keep on touch of their mental state? Right. And making sure that they’re in a good spot.

Tanya Endicott (09:07):

So I’m very hands on. I’m not, I’m not a micromanager. Okay. I, I’m not, I don’t have time for that. I don’t hire people who need that from me. So I hire people who are motivated in the first place. And for me, that’s really, really key as you make the right hires first. But if I see a cause it’s all about your pipeline, right? So if I see a lapse in the pipeline, I know that I need to go start lighting some fires. I need to be holding people accountable saying, what are you doing to get out of this situation that you’re in? What are, you know, what are you doing so that you great, you closed four deals last month. Awesome. What are you doing now for next month and the month before don’t get sidetracked. You got, you got a full bank account right now, but you, you wait two months and you’re going to be hurting again, eaten beans. So

Nathan Daniel (10:09):

Exactly the roller coaster of real estate that, you know, it’s cycle where it’s like, yeah, I have an awesome month. And then boom, I don’t eat for three months. Exactly. Yeah. Cause we live on, I mean, I mean, reality is real estate agents live on a 90 day cycle. Right. And if the activities they do today is going to impact in 90 days from now. And so as a leader, what I heard you say is you’ve got to, you’ve got to be aware, you’ve got to constantly stay on top of their mindset and talk. Well, it sounds like you have to talk to them.

Tanya Endicott (10:42):

Oh my gosh. Yes. Novel idea.

Nathan Daniel (10:46):

Yeah. I mean, cause you’re still selling, right? You’re like, you’re still in production. Yes. But your client is all, you know, it’s also the agent on your team. That’s also your client as well. Right?

Tanya Endicott (10:58):

Well, yeah, it is. It’s not just my client. It’s more, I think of a more as business partners. So when they when they’re not motivated, it also affects my bottom line. Okay. So they’re, I don’t know, a client is a totally different mindset for me, but yeah. So they’re, they’re their own business entity. Cause we’re all independent contractors and I don’t employ them, but but if they’re not moving forward, then my business suffers and is halted too, so.

Nathan Daniel (11:34):

Gotcha. Okay. So with, with a new agent getting started, like what do you see in today’s world that are, that hold a lot of agents back from being successful?

Tanya Endicott (11:49):

Honestly, it’s not knowing how to start. I think that you have that what do they say? Paralysis analysis. Yeah. So I, I think that that affects a lot of people. I know, I know I nipped that in the bud when I got started in real estate, I said, I, because I was, I was relocating to a different area. Like I knew absolutely nobody except my parents here. And and then found myself in a, in a situation where I had to change what my focus was. So, so I went to real estate. I was like, I’m going to send me a realtor. And and you know, that was 20 years ago. But what I learned early on is that they teach you how to pass the test and that’s it. Like they don’t teach you how to, how to fish and how to eat.

Tanya Endicott (12:46):

They live. Their job is literally to get you to be licensed. So knowing that, you know, nothing, but having the energy and the motivation to go out and do it, align yourself with somebody who does know something. So I went on a team and I put two and a half years in on a team. And I learned, I learned what I wanted to do, what I didn’t want to do the kind of clients I wanted because it’s not about casting a wide net. It’s about being specific and focusing your energies. And I also knew that I wanted a team. Like, I don’t think I’ve ever been just a single agent. I’ve always been on a team or had a team because I like that energy that a team brings to it.

Nathan Daniel (13:33):

Yeah. Yeah. So, and you said the riches are in the niches is what I heard there. Right. So like when you’re as an agent identifying that ideal client, instead of casting that big, it’s almost getting smaller so you can actually get bigger. Right. And so narrowing down that, that market, that you’re actually sending your message out to. Correct? Yeah.

Speaker 4 (13:56):

Okay.

Nathan Daniel (13:58):

So if it, if you’re a broker and you’re just getting started with, with everything that’s going on in our world today, and you’re just getting started opening the doors of your real estate office or your real estate team, like what are you doing differently today than you did in the past?

Speaker 4 (14:19):

Well,

Tanya Endicott (14:20):

I think so. I, and I’ve been a broker and had my own office too. I mean, cause I am a broker. So

Tanya Endicott (14:32):

For me and every broker is different. Like you, you have to figure out the model that you want to operate under. If the model that you want to operate under is I want as many agents as possible and somebody’s going to hit something because there are definite brokers out there who operate by that model. Then you’re going to approach real estate very differently than someone who says, I want experienced agents or agents who have the potential, but they’re not super high D you know, to talk about the disc tests. They’re more of people pleasers and they, and their eyes. So they can’t rein it in, but they, they have the energy to go out and get things. So it’s knowing, knowing what you want from your brokerage and then only making those hires. Because again, if you, if you hire the wrong people, it really, and I’ve seen it before. It’s happened to me. Everything comes tumbling down. If you hire the wrong person and they leave, they can take everybody with them and you’re starting from scratch. So it’s, it’s really about being very congruent with where you’re going and then hiring to reach that goal.

Nathan Daniel (15:56):

Okay. So let me break this down. Cause here’s what I heard. I heard that you’ve got to get clear with the vision and direction that you want to take your company. Correct. And then you also have to identify your ideal client, just like an agent would on who is your ideal agent that you want to have on your team and be partnering with because they’re going to represent, they’re going to honestly going to be representing you.

Tanya Endicott (16:23):

Yeah. And I think that’s very, very, especially true at the beginning stages of your brokerage. Because if you make the wrong hires, you’re going to spend all of your energy, chasing these people, training these people, and they’re not going to stay loyal to you. So hiring smart. And I use the word hire, even though they’re independent agents, but allowing those agents who align themselves under your sign is it can make or break you at the beginning.

Nathan Daniel (16:54):

Yeah, absolutely. And, and making sure that you have that clear idea of what your company stands for, the values that you have and making sure that those people are in alignment with you, like you said, it can make or break you. And it, it, it could also catapult you. Right? I mean, cause when you identify that and then all of a sudden those people are succeeding under your leadership, then, I mean, that’s also going to attract talent as well.

Tanya Endicott (17:18):

Absolutely. And if you haven’t solidified the loyalty of those people, they’re going to go somewhere else because it’s less expensive and they’re going to take what you taught them and you’re going to be starting from square one again.

Nathan Daniel (17:31):

Yeah. And that leads me to another point. Like what, what do you do to well, I’ll call it care and retention or whatever you want to call it. Like, what do you do to pour into your people to make sure that one you’re continuing to lead them at a high level, but then also like, what are you doing to retain them? Like you said earlier, being a partner, how do you become a good partner to your, to your agents that are on your team?

Tanya Endicott (17:53):

For me, it’s staying in their business. Because like I said, if you see them veering from the goals that they’ve set for themselves, it’s about holding them accountable and saying, Hey, you know, you said that you wanted to do two a month or you said you wanted to do four a month. Where are you at right now? Okay. What’s preventing you from reaching where you said you wanted to be and then helping them overcome, you know, cause we all need that punish from time to time. But for me also, it’s not doing that on a daily, hourly basis either.

Nathan Daniel (18:33):

Yeah. So how often do you, do you think you’re having that conversation? Is it once a month? Once a week, every other week?

Tanya Endicott (18:40):

No. It really is dependent on them because there’s, there’s some agents who don’t need it or they’ll come to you if they do. So it’s really about knowing the personality of who you hired. And then it just like when you react with a client, who’s a buyer or seller, some of them want to talk on the phone. Some of them, what texts it’s about finding out how does your agent, what does your agent need from you? And do you have the energy level to give it to them? Because if you do, then they’re a great hire. And if they’re not, then they need to probably go somewhere else.

Nathan Daniel (19:21):

Yeah. Yeah. I liked that. I mean, and it all just goes back to kind of what we mentioned earlier, just it gets back to knowing your people, knowing the temperature of their business. And I want to say inserting yourself, but having a conversation with them whenever you see them kind of falling back on their goals that they originally had set and holding them to a high standard to make sure that they, they, they get there because it’s not necessarily about you. It’s about, it’s about them hitting their goals for their themselves and their family. Right?

Tanya Endicott (19:50):

Absolutely. And again, someone who’s a high D okay. And I’m totally using the disc tests here, someone who is a go getter business driver, let’s just call them a driver. Okay. If you try to push them when they don’t need push or you’re in their business, when they could be making money, they’re going to be completely turned off by that. And you won’t, you won’t keep those people, but if you get someone who’s a high, I, and they weren’t the life of the party and you didn’t, you failed to notice that or, or somebody, some client interaction got them down and you weren’t there for them. You’re going to lose those people. So it really is about being clear. And I think this is more so when you start your business, as opposed to when you have a hundred agents, cause you obviously can’t do that with a hundred agents. But when you’re starting your business all day long, you need to support them in the way that they need supportive.

Nathan Daniel (20:55):

Yeah. Yeah, absolutely. And that’s, I mean, that’s just, it, like you said, we’re, we’re getting into business with people, we’re partnering with them and you know, we care about their success as much as, as much as they do. Right. And, and that’s, that’s awesome. I love that advice. So w what is, what is the next level look like for you? Like, you know, as everything that’s been going on, you’re currently at five agents, you’re, you’re in a hot market right now. Like what does the rest of 2020, and going into 2021 look like for you and your business?

Tanya Endicott (21:29):

Well, funny, you should ask that because I just had a business strategy lunch right before this meeting, because, you know, and that’s important too. You have to have that flexibility that, you know, Hey, things are going to change. And when they do you look and say, okay, we haven’t done this. And it’s not likely that we’re going to reach that by the end of this year. So let’s figure out where we’re going to go now and how we’re going to get there, and what do we need to change to do that? Or it may be that it blows up and it goes the opposite direction and you’re way exceeding things. And you need to set new goals. But yeah, I think, I think orderly looking at where you are and if you’re on track or if you need to adjust things is super, super important when you’re the weed.

Tanya Endicott (22:17):

So but as far as where I’m at right now, so we added an investment side of our business to where we are wholesaling and flipping houses. And so that’s, you know, that’s kind of what we were taking a look at was that side of the business. But that, that’s where, that’s where I want to see growth right now. Cause I feel like a lot of the things in the traditional side are going the way that I planned them to go or I’m in a very good year. So despite COVID and the NFU, like I guess there was at least one slow month because everybody was kind of up in arms, but for the most part, we’re having a really great year on the traditional side. So, so yeah, that’s, I it’s, it’s about expanding that new opportunity that we jumped into this year for me.

Nathan Daniel (23:19):

Awesome. So starting a new division in, so you have your, you have your, your your, your residential real estate side division, which is going, it’s operating, it’s running. You’ve been doing that for 20 years and now you’re going into a second division. So you’re kind of creating multiple streams of income and opportunities inside here for now investors to become a part of this environment that you’re creating. So now creating additional source of revenue.

Tanya Endicott (23:47):

Yeah. And we also invest in the properties too. So anyway, so, but yeah, that is exactly what it’s about. And, and I believe just from experience that if you do not have your hands and I’m not talking about all the pots, but I’m talking about, get one pot going strong, then add another pot, plant another seed, water, it, watch it grow. So once you’ve got one thing going really well, absolutely figure out what else is along those same lines that you can do to have another stream of revenue.

Nathan Daniel (24:25):

So building your garden. Okay. So I’m going back to this. Cause we just got a garden in our backyard and we’re growing tomato plants right now. So it’s you plant this seed? It sounds like a system is being developed right here right now. So you plant the seed, you water it, you let it grow, you nurture it and you clip it when you need to, you get it growing to where it’s strong and sustainable, and then you move on to the second seed and then you start the process over.

Tanya Endicott (24:49):

Absolutely. Yeah. And I think so for me, early on, I didn’t realize that lesson and I like went and planted all these seeds and I’m like, Oh, I’m going to be great. And I couldn’t, I didn’t have enough water essentially for, for all of the seeds. And I had to scale back and say, okay, let’s focus on this seed right now.

Nathan Daniel (25:15):

Okay. So that spurs me another, another question. Right. As a leader, we have to be able to fill our buckets. We’ve gotta be able to continue to pour water into ourselves so that we can pour into others. So, so who holds you accountable? Who helps fill your bucket right now?

Tanya Endicott (25:31):

That’s a good question. I have a very strong why. So for me right now, it’s me. I have used coaches in the past and I think coaches are great. I mean, they’re absolutely great. As long as you have a good one, right? Yeah. And I will, I’ll get to the point. So like for me, I know, okay. I need to do X, Y, Z. And after I do that, then I’ll go hire a coach so I can figure out what my next ABC is. Okay. But for me right now, it will be useless for me to have a coach. Cause I know what I need to be doing. So that would be money. That would be wasted.

Nathan Daniel (26:15):

Yeah. But you at least know yourself enough to know that, Hey, okay, I’ve got a big why I know what that is. You have a coach or somebody to help maybe put a program in place. Then you go run that until you hit that next milestone. Then you’re like, okay, now I’m going to go get another coach. So that’s how you fill your buckets to fill other people’s buckets.

Tanya Endicott (26:33):

Absolutely. That’s exactly how I do it.

Nathan Daniel (26:36):

Okay, cool. Awesome. Well, one last question and then I’ll let you go. What, you know, we talked about a lot of stuff today. Is there anything or any piece of advice that you would give to real estate brokers all across the United States right now? As it pertains to growing and developing agents on your team, what other piece of advice would you give to them?

Tanya Endicott (27:00):

So I guess it’s just stay encouraged. Okay. And I’m, I’m very purposely saying, stay encouraged as opposed to don’t get discouraged. Okay. because I’m all about positive language, but so stay encouraged because some things you’re gonna do just aren’t going to work and you take that as a learning and you go on to the next thing that you have in your head that you believe in. So you know, if you, if you have gone the mentality of, I’m just going to hire, whoever wants to go underneath me and it blows up on you because you made a bad hire and they turned everybody into going to another place when they left then. So be it. What, what can you take from that? What learning did you get from that scenario and how are you going to do it differently and stay encouraged and go after it?

Nathan Daniel (28:05):

And I heard from you, they’re just, it matters about the why that you have the, the reason that you’re doing this in the first place, the reason that you either stepped out of production or you decided, you know what, I’m going to be a leader of people. And I know there’s a reason why, and I’ve got to stick to that, whatever that is for you. Yeah, absolutely. Yup. Awesome. I love that. I love that. Well, Todd, thank you so much for being on the show today. I know I really appreciate it and I always love having real conversations and just keeping it raw. Cause like these are not scripted. I don’t think you had a clue what I was going to ask you this whole, but there’s a reason for that because it, you know, in today’s world, we are all very like transparent.

Nathan Daniel (28:49):

Like people can find out stuff about us, whether we know it or not, they social stuff. And, and that’s, that’s why I love having these real conversations because it’s about being authentic. It’s about being real. So you can be with the real, with the people around you. So I, again, thank you so much for being on the show today and I look forward to to catching up with you soon. Okay. You bet. Thanks. Thanks. Well, thanks for listening to the broker to broker real estate podcast, to check out past episodes, tools and resources, visit broker to broker podcast.com and always remember real.