Jeff Glover has been in the real estate industry since 2003. He started his career at a young age of 19 and he was able to take 11 listings after just a few months of training and learning scripts. As a gifted salesperson, he quickly rose to the top of his team which led him to build his own team years later. He knew that apart from hard work, he also owes his success to the training he received. Which is why he made it his mission to make sure that every real estate agent he meets will have the same opportunity as he did.
Today, Jeff is still in production, selling 85 - 90 homes this year. He also handles a high-producing real estate team which sold under 1,000 homes in Michigan. In addition to those roles, he is also the CEO of Glover U where they re-invent sales training for the Real Estate Industry. He finds that being on the ground himself makes him the best business coach.
In this episode, we talked about:
(05:19) How important is it to have your own ISA?
(07:02) How to structure an ISA team
(14:22) Why you need to be on appointments each and every day
(15:13) How staying in production allows Jeff to become the best trainer
(19:45) Jeff’s advice for mastering scripts
(27:48) What you need to focus on to stay on top of the real estate industry
(30:45) How to deal with iBuyers
(34:45) What’s the most important thing a team owner should be doing now
Reach out to Jeff Glover at info@gloveru.com
Join the Glover U Inner Circle Facebook Group
Episode Transcript:
Brian Charlesworth 0:35
Welcome back to the GRIT podcast. I'm Brian Charlesworth. I'm the founder of Sisu and the host of your show, and today I am here with Jeff Glover. And Jeff, many of you may know him from real estate production, many of you now know him from Glover U. So Jeff is a high producing real estate agent that also owns and runs a high producing real estate team. And at the same time, somehow manages to squeeze in time for coaching. And He's the owner of Glover U, and CEO, whoever you, I don't know how you want to call that Jeff. But Glover U is something he's I know he's focused on right now. I got to meet Jeff at an event that my wife had where Jeff came out and presented at that event, and really did a business planning session. So anyway, Jeff, it's a pleasure to have you on the show today. It's an honor. Thank you for joining us.
Jeff Glover 1:28
For sure. Thanks for having me on.
Brian Charlesworth 1:30
Yeah. Is there anything you want to add to your background? And maybe like, you know, some things like how long you've been in real estate, just things like that? Yeah.
Jeff Glover 1:37
So I've been a real estate salesperson since 2003. So 18 years now. I'm still in production, a lot of people are surprised to hear that with those things going on, but I'm still on the ground. This year, I'll probably sell about 85-90 homes. And most of those being seller appointments. Our team does just under 1000 homes a year here in Michigan, we've got about 25 sales agents in Michigan, and plus myself, and I've averaged just over 100 homes sold a year for the last decade. So my first year selling over 100 homes, personally was 2008. And have averaged over 100 homes sold every year since then. So I'm still on the ground. And, you know, yeah, we've got a great team, and I'm very grateful to be in business with the team that we have here in Michigan. And, of course, you know, anytime you do that much in personal production, and have a team selling in that volume, as you can imagine, we had a lot of requests, where people say, Hey, you know, how can we get your information? How can we get your scripts? How can we get your system talking to get your programs, and several years ago, we decided to just share it all with the public. And that's kind of how he was born.
Brian Charlesworth 2:04
And you know, that's really my favorite thing about the real estate industry. Jeff, is just everybody in the real estate industry is willing to share. Yeah, and, you know, if you're in real estate, all the information is out there. Jeff's got it out there, a bunch of other people have it out there. But the real question is execution, in my opinion, are you willing to execute? Are you willing to do the hard work to become the expert to really be able to execute, in addition to put in the time and commitment to execute?
Jeff Glover 3:26
Well, yeah, I mean, the biggest thing is, is that and that's the thing, you know, I'm sharing things that we're doing right now. I'm sharing things that are working for me, not, not yesterday, not last week, but you know, not something I read in a book right now. And I think that's, that's the biggest difference between what we're doing and maybe what some of the others are doing.
Brian Charlesworth 3:45
Yeah. Okay, so let's talk about your team for a minute how, how many, you're producing a level of 100 a year, you have a team of how many agents and what kind of production? How many units per year is your team?
Jeff Glover 3:58
Yeah, so we're in Michigan. So our ever sales price isn't that great as compared to other parts of the country. So we do just under it, we do between 900 and 1000 deals a year and we'll end up doing about the same this year. 200 million is our volume. You know, you've got to sell a lot of homes at 200 million in Michigan to 220. Maybe it would be like the most. And we've got about 25 sales agents. We have a team of inside sales agents about eight to 10 inside sales agents at any given time. We've got four showing agents and those work directly with our sales agents to show homes for them. And an operations team of six or seven.
Brian Charlesworth 4:39
Okay, so you're talking about eight to ten. inside sales agents. I have so many people right now Jeff asking about I think everyone knows they need to start building an is a team. And the reason being is I think everyone's getting sick of paying third parties 35% every transaction and relying on somebody else to really create, you know, their business for them. It's unpredictable. I think the biggest fear I'm seeing right now is really it that unpredictability of, are you creating your own business or is somebody else creating that for you. So how important it is to have an eye as a team?
Jeff Glover 5:22
Well, and some people get mad when I say this or offended when I say it, but almost everything in your business should be done in in-house. I'm not even a fan unless it's a spreadsheet or data entry. I'm not even a fair enough fan of virtual assistants, because I look at our business as developing people, and you're developing people who are going to stay with you for life. And that's my intention on every single person we hire in our inside sales associates are no different. We are not just hiring them for the job of following up on leads or making phone calls or hiring them to develop them into great outside sales associates. And then once they become great outside sales associates, we're, you know, we then want to say okay, who's going to emerge as a leader who could potentially lead our organization or go open up another location or do something in the leadership one out realm or be a partner, a future partner? And so I'm a big believer in keeping everything in-house for the sole purpose of being able to manage lead and develop people.
Brian Charlesworth 6:24
Yeah. Okay. I love it. So I'm guessing your real estate team, your agents? Are? base salary plus commission, is that correct?
Jeff Glover 6:37
So are all of our inside sales associates? Yes, our base plus bonuses are outside sales associates, which are basically what are known as listing agents and buyer's agents. They're all 100%. commission.
Brian Charlesworth 6:50
Okay. So you're inside sales associates. Again, there are so many questions about this in the industry. Jeff, that's why I want to dig a little deeper into this. Like, if I'm just starting in is 18. How do I structure that? You know, what's the salary range? What's the, you know, salary plus bonus? I'm guessing, for most the people I've talked to in the industry, their target is really it's the same as a real estate agent. They want them to make six figures. Yeah, that's the target is Do you agree with that?
Jeff Glover 7:22
Yes. And no, I agree with that, if they want to see if they are good at that role, and have the intention of staying in that role, because they're not interested in going out in the field. If they're not interested in going out on the field, and they're good at their job? Yes, I believe that in most markets, including ours, 75 to 100,000 years, probably, you know, that that's, that's the goal that we're trying to get them to. for us. We use this as the trick the springboard, if you will, it's this it's the sales training platform for us to turn out great listing agents or great buyer's agents, and, you know, they get paid a base, they get a base of 16 $100 a month, which, in most states, that probably is more like 2400 you know, our cost per living is a little less here in Detroit. Um, you know, so they get a base of 1600 a month, they get $100 I'm sorry, $150 for every listing taken from their efforts during that month, and they also receive 10% of the GCI when the listings they take solid close. So, you know, if you got an inside sales associate is responsible for, for taking, you know, say five listings a month. And for themselves, at an average commission of, say, $7,000 they're getting seven times the five, you know, so there's, there's our seven times four, there's 2800 there, plus or $1600 base. So now we're at what 42 or 44 Plus, you know, 150 bucks per listing taken so yeah, they're at about five grand a month. Five listings are taken per month.
Brian Charlesworth 9:05
Okay. And is that the target five listings taken per month? For ISA
Jeff Glover 9:11
Yeah, you know, sometimes we struggle with a few of them they'll only do two or three in a month but and sometimes we have ISA hit double digits 10, 11, 12 was the second month in fact our record still to this day is 16 listings taken by one insane a month so but most of them have around four or five, six per month. That's, we try to get to at least one listing taken per week.
Brian Charlesworth 9:34
Okay? What a great way to start off in in the real estate business is
Jeff Glover 9:39
Oh yeah and after all those conversations with sellers because our is a team is a little different than most we have our is a focus only on outbound potential seller calls. So our I say team does not handle any incoming buyer leads. I found over you know, 18 years of doing this If you give them a choice, they're going to gravitate towards buyers because those conversations are easier. So if you're going to have your ISA team do both, you just have to make sure the compensation is set up in such that it's, it's very, very generous when it's a listing taken versus a buyer caught, you know, appointment set or consultation or something like that.
Brian Charlesworth 10:19
Yeah, so that makes total sense to me. Totally agree with that, otherwise, you're going to teach them to be lazy.
Jeff Glover 10:26
Yeah, coz buyer conversations are very easy to take place. And I mean, the number, you know, for those that are wondering, Well, what would you do in terms of the difference? I mean, it's got to be at least half meaning they make half as much on a buyer appointment or buyer consultation or buyer sale than they do on a listing sale. Otherwise, that's all they're going to do all day long. It's just follow paying buyer leads.
Brian Charlesworth 10:45
So if you're paying 10% out on each listing, pay no more than 5% out on each buyer.
Jeff Glover 10:52
Bingo.
Brian Charlesworth 10:52
Yeah, okay. I think it's great advice. So your people coming into your business, they are all it sounds to me like you are running it where they are all starting out, as inside sales associates
Jeff Glover 11:05
The reason they are starting out as inside sales associates are showing it, those are the two kind of what I like to call mailroom roles that our company. So our goal is to either get them into a showing agent role. Let's say they're, they're enthusiastic and they're presentable. But they don't have any previous sales experience. Based on interviews or conversations, they've indicated that they want to be more buyer focused, they want to learn the buyer side of the business first, then we will encourage them to go into the showing agent role for at least six months. And in that role, they're learning the inventory, they're learning how to speak with buyers, they're learning the MLS, they're learning a little bit of light lead follow up, but we're preparing them to be more of a buyer focused type of an agent. So we explain the differences between the two, what it's like to be more of a listing focused agent, what it's like to be more of a buyer-focused agent. And then based on their personality, and, you know, a series of questions and what we think is best will make a recommendation, we think you should go the inside sales route or the showing agent route.
Brian Charlesworth 12:08
And no matter which route they choose, it's a six month really training program to then allow them to decide I want to stay as inside sales, I want to go outside sales. Is that kind of the training path that you
Jeff Glover 12:22
Yes unless someone comes to us with previous experience, then we may give them the option. And what I mean by that is they have the option to exit the program after 90 days, or stay in it for the full six months. And you'd be surprised. We've got a lot of good producers, you know, that comes to us with 6, 8, 10 years experience that actually says, You know what? Nope, I want to master working with sellers. Keep me in the program.
Brian Charlesworth 12:45
Yeah. And that's what I love is they're actually becoming masters in that timeframe. Oh,
Jeff Glover 12:51
Yeah.
Brian Charlesworth 12:52
Really setting them up for their future. Right?
Jeff Glover 12:56
What I mean, what do we hear from agents all the time who don't necessarily know better? Well, yeah, but I want to go out and see people, I want to go see people, let's be honest, even the best of the best agents are only going on one listing appointment per day. All right, so let's say you are the best of the best right out of the gate, you have one listing appointment per day, you can't possibly your learning curve is so stunted compared to all of those conversations you have over the phone and one day, you can have 30, 40, 50 conversations over the phone, and it's the exact same conversations you're going to have in person. So I can drastically speed up that learning curve by having a master the phones first and get comfortable with the dialogue through the phone before they get out in the competitive environment on a listing appointment.
Brian Charlesworth 13:38
Okay, so when you came out to springs retreat and did your business planning, you had something up on the wall, it was in the back left-hand side, the first one we talked about. Can you tell us what that said? Do you remember which one that is?
Jeff Glover 13:52
I don't remember the order because I don't always put them in the same order.
Brian Charlesworth 13:55
Okay, so it's the one about appointments every day can you share
Jeff Glover 13:59
If I don't go on an appointment today. Seriously, what did I accomplish? In fact, hold on. Let me show you something. I'll show you where that came from. All right.
Brian Charlesworth 14:09
Let's see. basketball hoop everybody. We're getting a tour of Jeff's office. If you're listening to this, you may want to jump on and watch this so you can see Jeff's office. Because
Jeff Glover 14:21
I didn't go to an appointment today. Seriously, what did I accomplish? And the thought process behind that is our job every single day, needs to be around what we're doing to get it. Every single piece of focus needs to be around what we're doing to get in front of someone. Otherwise, all you did was a service business. All you did was maintain. You didn't do actually anything to generate a new opportunity. So if I didn't go on an appointment today, seriously, what did I accomplish is just kind of like a mantra here. It's kind of like what did you do all day? Right? Like that's well, that's just kind of our attitude about it.
Brian Charlesworth 15:01
I love that so much. I think if the entire industry would start thinking that way because so many people think it's productive to come in the office and sit in the office all day, that's not what it's about, get your appointment scheduled, get out on your appointment, and get somebody you know, signed, and then under contract, that's what this is about. Right? And it doesn't happen if you don't go on the appointment. So yeah. Okay. So, Jeff, I know for you, it's, it's, I've heard you talk about this several times. So I know it's, it's important for you to stay in production. Can you talk about why that's so important to you?
Jeff Glover 15:35
Yeah, I've got two or three reasons why that is. Number one, in order for me to be the best trainer for our people forget about Glover U. In order for me to be a great trainer to our people, which our team is Jeff Glover and Associates here in Michigan, I have to know exactly the objections are receiving the conversations they're having, why buyers are struggling to write higher offers, why sellers want to keep, you know, keep their home on the market longer and wait for a better offer, I need to know all of those scenarios. So that I can stand up at a sales meeting the next week and say, Hey, guys, was on an appointment last week, buyers said they didn't want to pay over appraised value, let me share with you how I was able to get them to pay over appraised value. Right, by being on the ground, I'm able to better train my people, period number one, number two, from a Glover U standpoint, by being on the ground, I know that's what's gonna differentiate me from those that are paying attention. Right, for those that are looking for guidance, looking for a coach looking for a system, I know that's going to be the biggest differentiator between myself and competitors. And quite honestly, it goes back to even my real estate team. You know, we have a lot of great producers or great teams that we compete with here in Michigan, where the lead agent has gotten out of production. me staying in production gives us a competitive edge over that team. Because now what happens is the team members don't necessarily respect their leader as much right? Lead by example. Hello, how can you lead by example, if you're not actually in production with your people? So I think it's got two or three benefits to it. But those are a couple that comes to mind.
Brian Charlesworth 17:17
Okay, so with all this stuff going on, Jeff, you're running a team a very high producing team. Training ISA, training agents just that that to most people is a full-time job. Now you're stepping out and saying, Okay, I'm also in production. And I'm also running Glover U. So talk about your schedule, let's dive into your schedule. Because how do you do all this?
Jeff Glover 17:43
Well, I need to be I should really be super clear. So I'm not the one that's personally training our ISA anymore. We have an inside sales manager that's doing that. I'm not the one that's running Glover U we have Kate Simon, a head coach, and Taylor Kerrigan, our operations manager that are running the company, my job is to continue to stay as relevant as possible by being in production and being on the ground and dealing with the same things that lead agents are dealing with, do the same thing that teams are dealing with, so that I can get the message out to our people. So they can, you know, make sure they're implementing the right things, they're doing the right thing. So of course, in order to do that, you're right, I do have to have a pretty intense schedule. And I'll tell you, time management, as much as most people hate time management, it's probably one of my greatest strengths. My schedule is blocked off essentially in 15-minute increments. So I look at every hour has four units of time. And I believe that most things can be accomplished in one unit, which is 15 minutes. So when most people are blocking a half hour or an hour for meetings, I'm accomplishing the same thing in 15 minutes. So if you look at you know, from eight in the morning until six at night or seven in the morning, you know, until six or whatever time you start and stop, take those hours and divide by four, you got four or times that by four, I'm sorry, you've got four units of time. So in a 10 hour day, if you subtract lunches and so forth, you know, let's say you end up down to eight hours of productivity times four, what's eight times 4?
Brian Charlesworth 19:25
32
Jeff Glover 19:25
32 you got 32 potential meetings or conversations or things that you can accomplish per day. And that's how I approach every day.
Brian Charlesworth 19:36
Okay. All right, so back over to the production thing and then we'll jump into Glover you cuz I want to learn more about that. But you are a master of scripts. I've seen you in action.
Jeff Glover 19:52
Thank you.
Brian Charlesworth 19:53
How did you get so good? How can others get that good? I mean,
Jeff Glover 19:58
I was really lucky to have a broker that forced me to learn scripts because I don't feel like most agents get that opportunity or have a broker that that really forces them to do anything for that matter. I got my hands on, on script books, right. So this was, you know, years ago, all the trainers in the industry, right, the Mike Ferrys and the Floyd Whitman's I got my book, my hands on all their scripts. And my broker forced me to write them out every single day for 30 days. And then when I was done, he forced me to chant them aloud once a day for 30 days. And that was done to that he forced me to roleplay them once a day for 30 days and my real estate training, right, you see some brokers, you know, training on open houses or training on social media or training on CRM, or training on technology or whatever. My training was mastering what comes out of my mouth, mastering what I say what questions I asked, knowing the objection handlers, every single situation, that was my sales training. And so I just continue that. And it was kind of my mission as I went through life as a real estate agent. I've witnessed so many agents never got that training. And so it became kind of my thing, all right, I'm going to make sure every single person that we come in contact with, in our real estate team here has the same opportunity that I had. And for those that you know, end up joining of love or you program, the same thing we're going to master I mean, we've got, you know, between listing mastery buyer mastery and prospecting boot camp, all of them started on the same day, and I'm seeing what's going on in the Facebook groups. Every single session, there's a new script being introduced, dissected roleplayed, and then written out and every single member is taking a picture of them writing their scripts, and it sounds old fashioned, it sounds traditional, but at the end of the day, the reason why, especially for millennial real estate agents, you know, I get a little pushback, well, I just want to learn how to master Instagram. At the end of the day, my question is, Are you still going to have for the foreseeable future? You're still going to have a buyer consultation or listing presentation? The answer is yes. All right. So then that means you're going to have to go out and converse, present, consult whatever word you want to use, right? I like to use present because I consider it a presentation. You're gonna have to go out and present, right? Yes. And how do you think they're making a decision on who they hire?
Whoever's got, you know, whatever the responses, whoever's got the greatest marketing, the greatest tools, the greatest systems greatest, whatever. All of those are right answers, but the reality is, they make a decision of who they're going to hire, based on how you make them feel. How do you make them feel? Um, I don't know, I haven't really thought that far. You make them feel based on dialogue based on discussion based on rapport building that based on question and answering. And so as long as we have listing presentations and buyer consultations, I'm still going to rate the skill of scripts and dialogues as if not top three, for sure, in the top five skills that an agent needs to succeed. I'll tell you, for me, it's the number one period.
Brian Charlesworth 23:14
Yeah. Okay. So the one thing that you didn't mention there is, how much real estate did you actually do in your first 30 days of business? Jeff, when you were writing scripts, very few came into the market brand new agent, you're writing scripts
Jeff Glover 23:29
None. I did no real estate the first three, four months in the business until my broker said, okay, you're done with this program. I took 11 listings my first month as a 19-year-old kid, after I did, yeah, 30 days of writing, 30 days of chanting, 30 days of roleplay. That next 30 days, I took 11 listings.
Brian Charlesworth 23:48
So you had a 90 day bootcamp where you were not doing any real estate production. You were just in training.
Jeff Glover 23:55
Well, watch. I was doing open houses in floor time and all the things that everyone else was doing, but it wasn't leading any business.
Brian Charlesworth 24:01
Yeah. Okay. And then you took it from there to 11 listings and the rest is history.
Jeff Glover 24:07
That's right. Yeah
Brian Charlesworth 24:08
And that was at 19 years old. So congratulations, I love that story. Thank you for sharing that. Um, so let's talk about Glover. You guys come in and you do things like business planning, which I was able to witness that and you guys do have a nominal. Thank you also do group coaching. And then you do individual coaching.
Jeff Glover 24:28
Yeah, that's right.
Brian Charlesworth 24:29
Is there anything else that Glover U does?
Jeff Glover 24:32
Those are the main things So, um, you know, our group, our group coaching programs are the most popular because they're more affordable than one on one you know, one on one coaching is usually 1000 a month, but group coaching goes anywhere from you know, 299 to 399 depending on the program. But the Yeah, what you experienced with Springs team, that was what we call our live unreal advances. Where we came up with those this year because obviously, we can't Get 1000s of people, or hundreds of people even together for a conference. And so we said, You know what, we'll just bring the conferences to the teams. And so we're putting on private one-day events for teams and brokerages around the country.
Brian Charlesworth 25:12
Yeah, which everyone, that's how I got to meet Jeff, I'm very fortunate to, to do what I do running a software company and have a wife in the business. It's kind of like you, um, you know, I have somebody there first thing, it's kind of like you still being in the business, I'm still in the real estate business
Jeff Glover 25:31
You very much have an unfair advantage. And that's one thing that I think gives any agent that works with your platform an advantage as well. Because you're not just hearing it, you're not just reading it, you're intimate with someone that's in it every single day. And that's a huge advantage you have with your platform over over any of your competitors, if there are any.
Brian Charlesworth 25:55
Yeah, okay. Well, group coaching, individual coaching, is there anything you want to share about Glover U along those lines Jeff maybe
Jeff Glover 26:02
I would say the biggest thing is, yeah, I appreciate that. And I'm not going to give any sort of sales pitch on coaching. But what I will say anybody that's listening to this should probably join the Glover U inner circle, Facebook group, that's G-l-o-v,-e-r space, the letter U inner circle Facebook group. Reason why I say that is because once or twice a week, I'm giving out something free, no strings attached, no sales pitch, just, hey, here's, a new video on how to handle this. Here's a new script on how to overcome this objection. Here's a new system we're using for this. And you know, a lot of our coaches are current or former Jeff Glover and associate agents. So they're sharing here, you know, I went out with this and implemented it. And here's how, here's how it worked for me. So you know, we've got that. I always recommend that people listen to podcasts, I'm sure. Obviously, people are listening to this on the podcast. So they're in the right spot there. We've got a podcast as well. It's called the Live Unreal podcast, live unreal podcast. And that's a new episode, once weekly, everything related to real estate sales and business period, I would say those are the two places in terms of getting good, free resources from us, you know, again, I'm being on the ground, I try to get as much free information and free content as I can out to my peers as possible.
Brian Charlesworth 27:26
Okay, so the Glover U inner circle Facebook group that's free for everybody. Anybody can join that? You don't have to be in your coaching to join that you're not Nope. Okay. Okay, so I highly recommend that you all go in and do that today. While it's fresh on your mind. So you don't forget to do that. So you can take advantage of that. Jeff, before we wrap up here, what is your perspective of the real estate industry and what it's going to take to continue to be on top? Yeah, versus letting the industry dictate you?
Jeff Glover 28:00
Well, I think that real estate agents and brokers and leaders need to pay close attention to what the consumers needs are every year, something I've done for years and years, even prior to all the buzz about technology, and, and, and everything changing in the industry. I always download it every single year, I got my hands on the report, it's called the Gnar profile of buyers and sellers. It's like a 60 page report that comes out with every single year. And I got my hands on that every single year, Brian, because what you would find is you, you know, they interview 1000s of consumers around the country from all markets. It's the most, I would say the most comprehensive report on consumers and what they want and their trends and so forth. And I would pay attention to what was happening in that report. And we would model our company business plan after what that report said, right? So, you know, if, I'll just use I'll just pick on a basic one. All right, you know, the statistic I'm sure you've heard it before, you know, 87% of realtors say they would use their agent again, but only like 8% ever actually do. So how do we get to the other 70 or so percent that are using other realtors? So I think about Okay, what kind of marketing could we do? What could we put in place to adopt the client on the other side of the transaction, also known as the orphan clients? And so I guess the biggest thing I would say is pay more attention to the consumer needs than anything and try to solve a problem. You know, a couple years ago, when there's all sorts of negative buzz about Zillow and Zillow reviews or I mean, Zillow estimates and all that we created an app we created U praise it was a home valuation app. Well, then we realized Well, that wasn't getting people further down enough in the funnel and there was all this talk about ibuyers, the runo ibuyers in Michigan, so we turn the app into an ibuyer. You know, we repurposed it for that purpose. So I think it's just important to stay ahead of the competition, and pay close attention to the needs of the consumers and try to find a problem and solve it.
Brian Charlesworth 30:18
So speaking of I buyers, I'm glad you brought that up, ibuyers, they've had a big impact on the industry, not that many, you know, other things have come in and really impacted the industry. Like ibuyers didn't know, that seemed to soften with the whole COVID 19 epidemic. You know, a lot of them stopped investing for a while they're now getting their feet back in the game, what kind of a threat or opportunity? I mean, how important is it that every real estate team and agent actually get involved and take advantage of some of the things the buyers are doing?
Jeff Glover 30:53
Well, that's a great question. And my recommendation is this. You either get on board with them, or get ready to go to battle with them. And when I say get ready to go to battle with them, know them inside and out know what they're buying homes for, know the percentage of costs that are affiliated with them, try to find out how much they're asking on a regular basis, after home inspections. If you're not going to be on board with them, you better know how to battle with them. And in order to battle with them, that means you have to have all the information that they're using, and they're constantly changing, you know, when they enter a market, they might buy homes at 86 or 87% of value, and then it gets competitive. And then they go up to 88 or 89%. You better know when you're going on a listing appointment. And they tell you that they're considering an offer from offerpad, you better know exactly what percentage of that given time offerpad is buying homes for how much they're asking. You know, after the home inspection, on average, what their closing fee is, because there's always it, you know, hidden junk fees in there, you better know all of that. So better get on board with them or be prepared to battle with them.
Brian Charlesworth 31:59
Okay, so you talked about being prepared to battle with them? If you want to get on board with them? What are the steps to do that?
Jeff Glover 32:06
Well, every company handles it differently. I can tell you, I personally am not on board with any, which is why we created our own, I will tell you, the ones that I'm aware of from around the country, it's a pretty strong interview process. You've got to have a strong infrastructure. You know, like I'm just using Zillow as a for instance, because they're closest one to us is in Minnesota and I think in Chicago. And they they interviewed with the largest teams and selected the largest teams to work those opportunities. That’s the extent of my knowledge, knowledge on that aspect of it, because we don't have open door offer pad or knock or any of those. Okay, so but Brian, hey, listen, if they weren't our market, if they weren't our market, and we didn't have you praise, then I would call, I would call them up. And I'd ask to speak to someone, whoever would know. And I would just ask the question, what is it going to take for me to be a partner with you guys? And listen to what they say?
Brian Charlesworth 33:10
Yeah. So my understanding from my experience with that is that they are willing to pay you like, I know there are a bunch of different teams out there that will go out and actually offer up offers. They'll go on a listing appointment, and they'll say, here's your options. And we'll give them a handful of options, which can include offers from three or four or five ibuyers. Yeah, or we can list your home. And this is what we think we can sell it for. And typically they're going to go with that, especially in today's market, because in today's market, their homes going to sell quickly. Probably above asking price. Yeah, but in the future, it's not going to be so be prepared to know.
Jeff Glover 33:55
Yeah, what I'm finding is is about 5% of consumers who are presented with an offer are taking them up on those offers. So that means for those that might be worried about I buyers, I mean, yeah, 5% is a large chunk of the market, but there's still 95% that are saying no way I'm not interested in selling at that price. So it's, you know, it is what it is.
Brian Charlesworth 34:19
And Jeff, what you're doing is another way to get involved with I think, which is start your own ibuyer
Jeff Glover 34:25
That's right, yeah, go raise capital or go find hard money lenders or, or take loans out. You know, there's nothing that says you have to be, you know, I doesn't stand for cash, right. There's nothing that says you have to be a cash buyer. You can be a buyer that's willing to give an offer right now. That's instant, right. So yeah, there are creative ways to do it.
Brian Charlesworth 34:49
Yeah. Okay. What's the most important thing that a team owner should be doing right now?
Jeff Glover 34:55
Gosh, I mean, I would say the biggest thing is, is is Never lose sight of the fact that your people are yes in the business to make money. But that's not the only reason they're in their business. They're with you. They're part of your team. Because they want a better life. So what are you doing to make their life better? It doesn't always have to do with money.
Brian Charlesworth 35:18
Yes. Thank you. Thank you for sharing that. So Jeff, unless there's anything else you want to dive into, I have just a few more questions that are really outside of real estate. Anything you want to share before we wrap that up?
Jeff Glover 35:32
No, we're good man.
Brian Charlesworth 35:33
You okay. All right. So just quickly, I know you're a big learner, as are all leaders in the real estate industry. From my experience, yeah. Like, what is your favorite book or your favorite source of learning? I know, you already talked about listening to podcasts. Yeah. Maybe you could share more about what you feel is important along those lines.
Jeff Glover 35:56
Well, you know, you got to pay attention. Everyone needs to have a mentor that they look up to. And usually that mentor will make recommendations on books and podcasts and so forth. My favorite book hands down is and always will be thinking grow rich. It's one of the best books ever written. And, you know, I think in terms of podcasts, and we've got so much information at our fingertips. Don't just listen to real estate related podcasts, right? Obviously, you're gonna listen to Brian's podcasts, hopefully, you're gonna listen to mine. But outside of that go outside of real estate. How I built this is a great one that's that's outside of real estate, business wars. There's a lot of great podcasts outside of real estate, you'll find that when you're looking for competitive advantages, or you're looking for a competitive edge, you'll find that in a different industry, other than real estate. So to your very first point, Brian, yes, there is a lot of sharing, there's a lot of ripoff and duplicate, as they say in real estate. But there's actually even more that if you look outside the industry.
Brian Charlesworth 37:05
Yes, absolutely. One of my favorite podcasts is Read Hoffman's masters of scale, which, which is really more so I think for technology companies, but certainly find podcasts outside of this industry as well.
Jeff Glover 37:21
There's five days in a week. Okay, most podcasts drop a new episode is yours every week. Do you drop a new episode?
Brian Charlesworth 37:27
Yep. Yes.
Jeff Glover 37:27
What's podcast? Drop a new episode every week. So find your Monday, your Tuesday, your Wednesday, your Thursday. Your Friday podcast. Five podcasts a week wants just one a day.
Brian Charlesworth 37:37
Yes. Okay. Jeff On another note, what's your favorite place to visit? Like if you're going on vacation? If you're just getting away? What's your favorite place to go?
Jeff Glover 37:46
Well, I actually love going to Northern Michigan. It is a resort town filled beautiful place in the summer. And even in the dead of winter. I like winter stuff. I like snowmobiling, there's 1000s of miles of snow more snowmobile trails. So I actually just traveled about four hours north to Northern Michigan. When I go outside of Michigan, I love the city of San Diego. That is probably one of my favorite cities in the country, in terms of climate, in terms of things to do in terms of commerce in terms of dining. I mean, just I love the city of San Diego.
Brian Charlesworth 38:22
Yeah. Okay. Um, quick question on Michigan. So is that up? Is that up on the on Lake Michigan? Or where? Where is that?
Jeff Glover 38:30
Yeah, so Traverse City, Michigan is is what I would recommend is the best resort town. You know, some of the greatest freshwater, you know, the second or third most beautiful lake in the world. It's called torch Lake that's up near Traverse City, Michigan. Traverse City. Yes. Is on Lake Michigan. It's at the, you know, everyone uses the hand. Right? It's right at the tip of the top. You know, Mackinac Island is up there. I mean, there's just so much to do in northern Michigan. Best time to go is in the summer, or in the fall when all the leaves and everything is changing colors.
Brian Charlesworth 39:03
Okay, great. And then my last question along those lines is just what's your favorite thing to do in your personal time?
Jeff Glover 39:09
So I am a boater and I'm a golfer, which is very rare. Normally, it's one or the other. But I actually do find time to do both. So I'm able to take my boat out on the Great Lakes, you know, maybe once every 10 days or so in the summer. And when I'm not out there, then I'm usually on the golf course.
Brian Charlesworth 39:31
Okay, how often do you get to play golf a week with your schedule?
Jeff Glover 39:35
Once a minimum once a week? Okay. And you'd actually think I'm a better golfer. I'm
Brian Charlesworth 39:40
not. I think it's important though, that people understand that you make time for yourself and for getting out and doing activities, not just
Jeff Glover 39:48
Yeah, so I should make it clear. I'm closed for business. Saturday at 3pm until Monday at 7am. Closed, no business nothing. And then that's just every week and then From time to time, you know, vacations or whatever in between here.
Brian Charlesworth 40:04
So for those of you who are out there who have told your clients call you anytime. That is not something that Jeff does, that is not an expectation he will ever set. He is closed for business on the weekends. So I just want you to make note of that.
Jeff Glover 40:20
Yeah, I will enter a morning but yes, Saturday afternoon until Monday at 7am.
Brian Charlesworth 40:25
Okay, so everybody, thank you so much for listening today. Go out share this podcast. Jeff has some great content. I think it's important that we get him in front of people also get the show in front of people. Give us a review that will help us bring on more people like Jeff. Jeff, how do people best get a hold of you?
Jeff Glover 40:45
I would say that number one place email is info@gloveru.com, i-n-f-o at Gloveru.com or Facebook. Just find me on Facebook. There are two Jeff Glovers. There's Jeff Glover, the Grappler wrestler. So that's not me. But you can find me on Facebook and add me there or messaged me there on Instagram.
Brian Charlesworth 41:11
Okay, Jeff, awesome having you on today. Thank you so much. Every time I'm with you. I just love your energy and your experience and your advice. So thank you so much for joining us today
Jeff Glover 41:22
Great Brian. Thanks for having me. We'll see you guys.
