0:00 Hello and welcome to your 15 day challenge. My name's Michael Montgomery, I'm the founder of Rev Real Estate School, and I am going to be walking you through the next 15 days.

0:11 So what can you expect over the course of the next 15 days with this challenge? Well, first off, in the morning you're going to receive an email from me, and within that email, it's going to take you over to a task lesson concept or a combination of all three.

0:25 And so what this is designed to do is one thing and one thing only increase production. So the main focus of this is not the technical elements of real estate per se, although there is some of that that will be involved.

0:39 But for the most part it's about production. We're gonna be discussing prospecting, we're going to be discussing how can we go out and prospect in a way that's natural, and then how can we actually follow up.

0:50 We will also be talking about buyers and sellers to some extent, but more so through the lens of conversion. So how long can you expect to spend on each one of these lessons?

1:01 Well, each one is less than five minutes, which forces me to be extremely concise, which is not necessarily my strong suit.

1:08 So each of these are going to be less than five minutes, and then there'll be a task associated with some days.

1:14 Now, as far as the task is concerned, sometimes it might take you less than five minutes. Other times it may take you about an hour or so.

1:22 But the beautiful thing is all of these tasks are actually fairly easy to accomplish. There's not going to be 150 dials one day and go knock on 300 doors.

1:33 You're not going to have to do any of that. This is going to be very focused on your current relationships and growing your current relationships, as well as how can we actually be communicating with them effectively.

1:44 But to kick things off, the first thing we're going to do, I'll just explain a little bit about myself so that you know who's talking to you.

1:50 And throughout my history in being in real estate, there is a common thread. Okay, so who is talking to you today?

1:59 Well, I am a failed real estate agent. First off, when I start to look at my career, I think back to my first year as a real estate agent.

2:08 This is me dorky photo. I know you can make fun of all of these photos because a lot of them are quite dorky.

2:13 This photo of me is when I started in real estate, got out of real estate nine months later. So I was one of that 87%.

2:21 And a lot of this was because A, I wasn't producing, but b, I didn't think of myself as a salesperson. 2:27 I didn't think of myself as the person who's going to go out there and start really trying to push people into homes.

2:32 Now of course, all of us very likely know that those strategies don't work. Maybe they did at one point in time, they certainly don't now, and thank goodness.

2:41 But as I got out of the industry, I got into another career and I started to think back to my career in real estate and thought, you know, it was challenging.

2:49 No, I wasn't producing. But when I was in this other career, I thought, I can do this. I can definitely do this.

2:55 So I got back into the industry. So here's Me, me back into the industry, and at this point in time, started in a new city.

3:04 And within that new city, I eventually met my now wife and we started a small real estate team. Now, that small real estate team started off being okay, but it crashed and burned because I didn't really know how to structure it.

3:18 I didn't know the components of how to actually form a team or splits. So being the smart guy that I am, I thought, Hey, failed a team.

3:26 Why don't we go try this whole concept of building a brokerage? Probably not the best idea. If you didn't know what you were doing with a team, what you're doing with the brokerage is going to be that much harder.

3:34 So we started a new brokerage and within this we had the concept of building another team. So I had learned a lot from my first team, but not enough clearly because when we built this second team, it crashed and burned even worse.

3:46 So a lot of this was basically my fault in how I structured the team and how did I go about actually putting this together?

3:52 And I failed at it pretty miserably actually. So after that, we decided, okay, you know what? Let's just go out and produce at the highest level we possibly can.

4:01 So this is myself and my wife. And so at this point in time, things were going well production wise, we were extremely happy with our results at that point in time, it's about 75 to about 125 deals within that range over the course of these years.

4:15 Things were going well. All of that was good from the outside. But here's the thing on the inside, I was burnt out, I was stressed, I couldn't function, started to resent the career.

4:26 And a lot of times when we think of burnout, we think of, okay, well just take a vacation or take a week off.

4:31 It doesn't work that way. When you have burnout, when you are a deep into it, you start to resent the career.

4:37 Not like the career buyer calls you to go look at homes and you think, I do not want to do this.

4:43 And so really had to overcome the concept of burnout, and we're going to discuss that throughout these lessons as well.

4:49 There's a section that's dedicated directly to this. So as time went on, we then formed Rev Real Estate School. It was completely focused on helping agents when it comes to relationships, lead generation and systems.

5:02 These are the three components that will make an amazingly enjoyable and also highly productive real estate agent. So common thread, do we know the common thread?

5:12 It should be pretty clear. It was failure after failure after failure. But here's the thing, when we think about failure, we think we went down a certain road, it didn't work, and that was the end of it.

5:23 But that is not the end of it. Failure is only when you actually stop completely. Instead, start to think of failure as information.

5:32 We need to think of it as information and as information is coming in, what went wrong? What can we change?

5:38 In a lot of ways, we should think of this like a tech company. Like if a tech company goes down a road and it doesn't end up working out, do they burn all the ships to the ground?

5:47 Well, sometimes, but mostly what they do is they pivot. And we as real estate agents should look at what we're doing.

5:54 And if it's not working, we should be prepared to pivot. Now, throughout this challenge, you are going to have certain tasks that some may put you outside of your comfort zone.

6:04 Some you may even think of as failures. Maybe you do something and you don't get the expected result. That's not a failure.

6:11 Failure is quitting. Failure would be the first dorky guy here who actually just got out of the industry cuz he didn't think it was for him.

6:18 Now luckily that's still not a failure cuz I got back into the industry. However, keep in mind that failure is information.

6:26 So with that, let's now jump into our first lesson.

D0:00 Hello, and welcome back to the 15 Day Challenge. My name's Michael Montgomery, and today what we're talking about is mirrored reciprocation.

0:09 Mirrored reciprocation. It's probably a term that you haven't heard before. It's one that I hadn't heard before until I learned about this concept, and it totally changed the way that I viewed relationships in real estate.

0:21 So the concept of mirrored reciprocation comes from a gentleman named Peter Kaufman. Now, Peter Kaufman is not a well-known name, however, he's had a huge influence on people that we know very well.

0:34 That's Charlie Munger and Warren Buffet. So Peter Kaufman is actually part of the organization and helped write the poor Charlie's Almanac.

0:42 But here's the really interesting thing about this individual. He does some talks, however, he will never let them be recorded, and some of his thoughts are just mind-blowingly good.

0:52 However, there is one talk that has been recorded. You'll see a link to it within this task and throughout this talk, he talks about a few different concepts.

1:02 One is called multidisciplinary thinking. It sounds quite complex, but it's not. It's a really interesting concept. But then he gets to this concept of mirrored reciprocation.

1:10 Now, mirrored reciprocation, as we said, is probably not a term that we've heard before, but it's extremely important. So Peter Kaufman explains this concept of mirrored reciprocation by asking the audience to picture a cat.

1:22 And he says, picture a cat. And imagine you walked up to that cat and you picked the cat up by the tail.

1:27 What would the cat do? Well, the cat would scratch you. It would snarl, it would try to get away. It would run away as fast as it could, and it wouldn't want anything to do with you.

1:35 Now imagine that you walked up to that same cat, but instead of picking up by the tail, you came over slowly and started to pet the cat.

1:42 Now, in most cases, the cat's going to pur and be your best friend. This is the concept of mirrored reciprocation.

1:49 The whole premise is how we approach a relationship and how we approach a human being is how they are going to respond to us.

1:57 So he says, what we need to be thoughtful about is the concept of being positive and being first. So when we approach a call, when we approach a text, when we're at an open house and we're greeting people, we need to be positive.

2:10 We need to be high energy upbeat. Now, not over the top upbeat. Actually, a really good hack is you don't wanna be way over the top upbeat compared to the person you're talking to.

2:20 You just wanna be slightly higher, ever so slightly higher. Now, I know that that might sound a little bit advanced, but if you're able to just be slightly higher energy than them, you're going to appear to them as a very confident, likable, but you're not coming across as over the top.

2:36 But all we really need to be doing here is thinking when we're approaching a conversation, when we're approaching a human, we just need to be positive.

2:43 And the second component of this is being first. And so being first is actually a huge, huge benefit. So whoever actually initiates the conversation is going to set the tone.

2:55 So take for example that you're negotiating a deal with another agent, and you On the phone wait for that agent to then give you their energy.

3:03 So you pick up the phone, you call the agent, you ask the agent, how are they? And you kind of let them dictate the energy.

3:07 Well, they're going to be in control of whether that's going to be a positive call or a negative call. However, if we're first, if we approach the conversation first with a level of energy, that is going to set the tone.

3:19 So a good example of this is if you're out showing a house, you wanna be the first one to say hi to the buyer.

3:24 You know you're getting outta your cars together. You don't wait for your buyer to say hi. You say hi first, and you do so with a positive energy.

3:30 So you're first and you're positive. And then from there, you are setting the tone for an amazing relationship. So this concept of mirrored reciprocation, there's no actual task associated with this today.

3:41 It's just going to form the base of how we're going to communicate as we progress through our 15 days. So your only task today is to just understand this concept of mirrored reciprocation.

3:51 You can also listen to Peter Kaufman's talk if you'd like, and he will explain this in a lot more detail.

3:57 But basically what we're coming down to here is we need to be first in the interaction and we need to be positive and energetic.

4:04 Not too over the top energetic, but ideally just slightly more energetic than the person that we are talking with. That way, the person won't feel like we're over the top.

4:13 They will just feel warm, welcomed, and they will also feel your confidence end to energy. Thank you very much, and we'll see you in the next lesson.escription text goes here