The pair delve into Kory's real estate journey, discuss the unique characteristics of the Canadian real estate market, share practical business strategies, and emphasize the value of maintaining a balance between work and personal life.
Kory Prince kicked off the conversation by tracing his path to real estate. He narrated his transition from a traditional role in a corporate job to his introduction to the real estate world. Intriguingly, he pinpointed a specific and transformational seminar as the catalyst that prompted his career change, marking the start of his fruitful journey.
The conversation evolved to address the intricacies and uniqueness of the Canadian real estate market. Kory offered valuable insights into the relationship between buyers and sellers in Canada, shedding light on how real estate transactions unfold differently compared to other markets. The duo highlighted the role of agents in acting as intermediaries, underlining the importance of an agent's involvement in negotiations to ensure smooth and successful transactions.
The duo then delved into crucial business strategies. Brian emphasized the necessity of focusing on income-generating tasks, cautioning against the danger of becoming side-tracked by less vital activities. Kory concurred, warning against the volatility of a 'heartbeat' business characterized by sharp highs and lows. He advocated for the consistent filling of the business pipeline, recommending a target of 20 to 30 potential clients. The episode concluded on a note of camaraderie and collaboration, with Kory offering his assistance to fellow real estate agents and encouraging open communication.
(1:50) Kory’s journey to license and build a team
(5:33) Are buyers' actions influenced by interest rates?
(7:34) The market perception vs. reality
(9:24) Are traditional brokerages and solo agents becoming obsolete
(9:50) Competitive advantage of specialist roles in teams
(14:47) The power of MLS listing and sold data in real estate
(16:52) Free, accurate property valuations as a value add
(18:06) Quick, standardized property valuation system
(20:12) How does showing care impact your client relationships?
(25:47) The role of Sisu in streamlining business processes
(26:49) Growing your business in the Canadian market
This episode of the GRIT podcast provides listeners with a wealth of knowledge about the Canadian real estate market, practical business strategies, and the importance of maintaining a work-life balance. Whether you're a seasoned agent or just getting started in real estate, this insightful conversation between Brian Charlesworth and Kory Prince offers valuable takeaways for everyone. So, tune in, listen carefully, and let this discussion inspire your next step in the real estate journey.
Kory Prince is the co-founder of Countrywide Real Estate Group, a successful real estate marketplace in Canada. Specializing in empowering REALTORS® to double or triple their annual income, Kory and his team are transforming the real estate landscape. Under his leadership, Countrywide Real Estate Group has become a one-stop shop for for-sale, sold, and rental listings, providing a platform for comparing home values and connecting with local professionals. Kory's work-life balance philosophy and advocacy for collaboration in the industry set him apart as a leader in the real estate world.
Brian Charlesworth 00:34
Hi everyone and welcome back to the Grit Podcast. I'm Brian Charlesworth. I'm the founder of Sisu and your host of the show, and excited to be here today with Kory Prince out of Canada. Kory, welcome to the show. Thanks, Brian.
Kory Prince 00:46
I appreciate it, man.
Brian Charlesworth 00:48
So Kory is the co-founder of Countrywide Real Estate group up in Canada started his career back in 2010. Let's dive back to that Kory. How and why did you get into real estate?
Kory Prince 00:58
That's a funny story. So I've sold everything diamonds, gym memberships, you know, pretty much. What's that?
Brian Charlesworth 01:06
Have you sold solar?
Kory Prince 01:07
I have not sold solar is not huge in where I live in Canada, but I have not no. And I was selling, what was I selling
Brian Charlesworth 01:16
door-to-door sales? I guess that's another way of asking that question.
Kory Prince 01:19
I did not No, no, I never did door to door. Yeah. So when I first I was living in downtown Vancouver, in British Columbia, in Canada, where the business is primarily focused. And I had a friend I was at a cocktail party one time, and I was selling cars at the time. And I was you know, 2221, something like that. And he says, Well, if you seems like you have an aptitude for sales, or it seems like you're decent at it, why are you selling something for 20,000? When you can sell something for 20 million? Why don't you get into real estate. And like drinking a cocktail. I was like, that's not bad idea. And over the course of the next six months, I got my license. And yeah, that was 2010 and hit the ground running and eventually formed a team and realized the missing pieces that I needed, and was trying to create spreadsheets to basically accomplish what Sisu does. And then when learned about Sisu and realize it was very much like an API forward company. I'm like, I think I need to figure out a way to tie into this with my systems. And there we are.
Brian Charlesworth 02:12
Right. Well, cool. So how long have you been on Sisu? Now,
Kory Prince 02:16
Sisu, I dabbled in it back in like 2018 or 2017, like quite early on. But I just didn't have the integration with the CRM I was using at the time that it really made sense. So I left for a period of time. And then when I reenacted a re signed up with chime. They were starting to work on a basic two way integration with a bridge page and all that with chime. And I was like, Okay, I know this is going to improve. So let's lock into it now. And then I've been with them ever since when premiere was offered a little bit later on, I signed up for that as well.
Brian Charlesworth 02:48
Okay, so it wouldn't have been 17 Because that was before we had anything in the market.
Kory Prince 02:53
But when what 1719 1819 middle of
Brian Charlesworth 02:57
18, we released an app and beginning of 19, we released the platform. So yeah, maybe maybe late 18, early 19. So we were really cells performance back then.
Kory Prince 03:07
It was very early on very, very early on. You guys didn't have many of the integrations you have now you had some, but it was mostly using some of the other connector like this app years, and stuff like that to hook it together. Right. Right.
Brian Charlesworth 03:19
Right. Yeah. Okay, so tell us a little bit about your business. Well, before we do that, let's talk about the Canadian market. So sure, it's different up there. Yeah. You hear all these things, all these people telling you how to grow your business. And you don't have Zillow up there, right.
Kory Prince 03:38
Zillow exists in our markets, but it doesn't sell leads. It's not a real competitor. They do have some SEO, and they do have some traffic, but they're not. They're nothing like they are in United States. Yeah, the market is it's a more conservative banking industry. So our mortgage rules are much more conservative. In fact, back in 2016, or 2017, I forget what year it was, they implemented something called a mortgage stress test. And the mortgage stress test was, if you're going to qualify for a mortgage, you essentially have to quote and it was less than 20% down. So what we call high ratio mortgage, they would ensure that you qualify for whatever the rate was plus 2% as a cushion. So it did limit your buying power, particularly in expensive markets like Toronto or Vancouver a lot because people are buying sort of the top of their range. So it's much more conservative, it's harder to get your foot in the door and like an expensive market. And anything less than 20% down on a mortgage, it has to be insured by an insurance Sacher of the entire country. So all the mortgages are insured that are under 20% down. So it's more challenging to get into the market, but it's a really solid conservative lending environment. So there hasn't been really huge drops. There's been dips, but there's never been anything like a 2008 mortgage crash in the States. Right.
Brian Charlesworth 04:54
Okay, so while we're speaking about mortgages, tell me about interest rates up there. What's happened in that one? rose. That's like
Kory Prince 05:01
the most common thing on our team that we get of people saying, How do I deal with this objection is, I'm going to wait because interest rates are too high. And when the interest rates were 1.5%, people customer said the same thing. So it's like, they get down to 1.5%, I actually know of somebody that had a 1.3 to five year fixed, that they're still locked into. And that's just probably not ever coming back. You know, historically, five, or 6% is actually really good if you track it over 3040 50 years, right. So right now, we're basically the same as is America, as far as the interest rates, they're very similar. But when the interest rates and the media is talking about the interest is going up, or the rates are going up, people just sit on the sidelines and wait for them to go down or wait for the interest to be better. And then everybody sort of mass tries to buy at the same time and the property prices go up. So it's like, if they follow like sheep, they're not going to have an advantage on either side. You know what I mean? Well, we had
Brian Charlesworth 05:57
this period of Jesus at least six years, where interest rates just kept dropping, and dropping and dropping and dropping and dropping. Yeah, let's do it, which made it really easy for the mortgage lenders, right? It also made it a really, I would say, like, artificial real estate market, right, where people felt like, oh, yeah, I need to buy like free money, right? I know, my daughter bought five houses, just because she could, right, she could get qualified and she could get free money. Why not do it? Right? I mean, if you're at those types of interest rates, it's easy to make money. More money than your payments on a rental. Right? Yeah. So okay, good. So up in Canada, now, things are selling the market slow the markets, good, probably different throughout Canada, as it is the US. But tell me your perspective of that.
Kory Prince 06:50
Yeah, like our major market is the Lower Mainland, which is about an hour to an hour and a half drive surrounding Vancouver, British Columbia, which is where the 2010 Olympics were just to give people like a frame of reference. So that's our major market, it's quite expensive, on average for what you get, it's a very desirable place. It's bordered by oceans to the west and Mountains to the north. So there's only so much land, and the only direction you can go is East away from the water. So there's less transactional volume year over year, but there's still 1000s of transactions happening. So it's when I had a managing broker telling me very early in my career, people were talking about the market being up or being down and whether they were experiencing the kind of sales they wanted. And that managing broker, his name was Cory, he said, unless you have 100%, market share, the market doesn't matter. There's 1000s of deals out there, go get your 50 or 10 or five a month, whatever it is. And I've always remembered that even from when I first started in the business, so the markets, it's the perception of it, that it's more challenging for buyers and sellers. But there's around the same amount of transactions happening anyway. So you just need to learn how to have those conversations. Right.
Brian Charlesworth 07:59
I love that you said that. I think that's great advice. And I love that you've held on to that. Because the market really is what you think it is. Right? Yeah, the market is right now I know of a lot of people that are growing way beyond where they were last year. And then I know a lot of people that aren't, you know, that are staying kind of the same. And then there's also those people who are getting out of the industry now. And it's not that there aren't houses selling is that you actually have to do the work, right?
Kory Prince 08:30
Yeah, more work than you used to have to do by a lot. Like you actually have to be very consistent and disciplined with your prospecting. When before you might have 20 or 30 deals sort of fall into your lap per year. And then yeah, and that's a good life. That's great. But it's not repeatable, unless the market is like that, right? So if people do get weeded out, people that have been in the business a long time, that have made really good money for five or 10 or 15 years, a lot of them are phoning me and asking about opportunities about being on a team, because they can take, they can take the cost away. They can plug into a Ferrari, and they can just decide how fast they want to drive it based on how much work they do. And we provide triple line power dialers we provide everything essentially they just have to work. And if they work, they can make hundreds of 1000s of dollars with very low overhead, right? So no brainer.
Brian Charlesworth 09:19
Yep, totally agree. I've been saying for a long time now teams are the future of the industry. And now it's actually happening where people know they need to be on teams or brokerages are starting to operate like teams to add the value otherwise, those brokerages will be disappearing as will a lot of solo agents. Okay, so let's talk about teams and real estate and like, what is it about teams that makes such a difference? Like why is somebody wanting to come to your team if they've been in the business for a long time now?
Kory Prince 09:49
Like, I find that the competitive advantage of a team is usually having like specialists in each role. So for instance, I was an above average agent, but I'm not the greatest age and ever, and I'll fully admit that. But what I did find in being in production for eight years before I got out about four or five years ago, was that I really enjoyed the architecture and the systems to put together lead generation and provide opportunities for agents that's like, really what my passion is, and I really like it. So I've realized that's my wheelhouse, if I can do that 80% of the time. And then I can partner with somebody whose their wheelhouse is sales and sales training, which my business partners is, which he met, when we were in Salt Lake City in April. That's his wheelhouse. So together, we basically can focus on the things that we liked number one that we're like really exceptional at, and a single agent, no matter how good they are, in any of those is not going to compete with me leaning all the way in and tripling down on that skill. And I think it's I'm doing the same. So the best lead generation we've seen for our agents so far, like for people trying to join the team, is the agents on our team talking about us to other team or to other agents. Yeah. And I'll get somebody reached out and they'll say, oh, you know, XYZ, or John or whoever said, Yeah, to give you a call, and they get on the phone with them. And I find out they've been licensed for seven years, they experienced really good sales over those seven years, maybe did 30 deals last year. And then this year, they've done two, and their expenses are probably not in line with what two deals is going to fill, if they've been doing real estate deals for seven years. So they see the success and the proof of concept with the agents that are on our team already. Whether they're new, or whether their experience and they just want to have a conversation, which is great. Those conversations are where all our business comes from. Right. So it's awesome.
Brian Charlesworth 11:35
So agents are attracted to you. Why do you think that is? Why do you think they're attracted? You mentioned because your agents are having success. But is there something else
Kory Prince 11:44
one of the things that's really powerful for us is we're Sisu coaching clients. So I rely on some of the training to be done by Justin. So on Mondays and Fridays at 11am, our time PST, he gets on there. And for an hour, he sort of lines them up for the week on Monday and then holds them accountable on Friday. And that really dovetails really well into our training and our Winner's Circle meetings, our morning huddles if you will as well. And it gives them like a real accountability schedule, and enforces that they have to, they don't have to do the things they say they're going to do. But they're going to be publicly made to declare it. So they'll say, Okay, I want to do 100 conversations and this many appointments this week. And then during the meetings, they have to basically say whether they're on pace or whether they're not. And if you say you're not on pace enough times, that's painful. And you're doing it around people that are your peers, and maybe those peers are doing well. And nobody wants to feel like they're not performing. So it it causes people to rise up a bit more than if they're just secretly not being successful on their own. Right. Yeah.
Brian Charlesworth 12:46
So for those of you who don't know, I don't think Justin time has ever come up on one of my podcasts before. So Justin time is something we created because Justin Nelson, who works very closely with us, he is springs team leader of her Davis County Office, and used to be a Tony Robbins speaker and is a bundle of energy and also really drives a very powerful culture here. I don't think I've ever seen a culture on a team quite like his so we had so many people say to us, well, how do I get a Justin? And so we created Justin time so that all of you can get a Justin? Yeah, Monday and Friday. And it sounds like you're leveraging him as one of your recruiting vehicles.
Kory Prince 13:31
Yeah, like I use him for our team. He's part of our team calendar. So everybody on the team has access and they attend as much as they can, a lot of them attend quite frequently. And then prior to somebody even being on our team, if I think it makes sense to warrant inviting them to one of those just in time meetings to show them what our performance coach will show them. Yeah, is a really good lead into like actual one of our team meetings, and then a zoom call to really have a one on one with them to see if we want to proceed to the next steps. So it's just a great feeder, that shows a lot of value. And it requires nothing on my end, except for paying a bill, which is pretty affordable compared to the value that I feel like we get so it's good. Yeah.
Brian Charlesworth 14:08
Awesome. Cool. I love to hear that. So thank you for sharing. So I want to talk for a minute because as I read your bio and stuff, it seems like you guys have created something like Do you have some sort of software that you've created for people's ability to search for homes that have or listings? I think it's maybe specific to listings that have that are for sell if sold, or our rentals talent. Tell me more about that.
Kory Prince 14:35
Sure. So a brand is countrywide Real Estate Group. And that brand name has chosen very specifically to meet countrywide for Canada. So coast to coast in Canada. So I've negotiated a national data feed with a number of real estate boards. So I have every MLS listing in all of Canada on the website, and I have a large portion of the sold data for All the major markets also available on the website. So there's almost 400,000 sold listings in that database, as well as I think 250 or 300,000 active listings at any given time. And what we do is in our markets where a lot of people sign up, but we've got pretty good SEO, so they sign up all over the country, if I can't service them as a team, because they're not in our major market, through my brokerage exp. And through Sisu, I send them off as a referral agent and track that in Sisu, whether they're converting them or not, and just count it towards the overall volume of the company. Yeah.
Brian Charlesworth 15:35
Okay. So you're driving a lot of referral business because of this software platform. Is that right?
Kory Prince 15:41
Yeah. Like it's, we'd like to do those deals in house, but we just don't have teams and all the major markets, we have them in a couple NBC. But that's the overall vision is to find those partners who we think are going to do really well, the systems there. Our database is very large, the biggest one in Canada, as far as I know, with Leeds. And yeah, we're just we do a bunch of referral business, but the goal will be to be, that will be the countrywide brand in each market. But right now, it's just predominantly in BC, and British Columbia on the west coast.
Brian Charlesworth 16:10
So it sounds like you have a gold expand and do expansion teams across all of Canada. Is that correct?
Kory Prince 16:27
Absolutely, starting with where we are now and then next will be probably Edmonton, Calgary, Toronto, those major markets and onwards. Yeah.
Brian Charlesworth 16:35
Okay, that's great. Yep. So you guys also let people compare home values through this?
Kory Prince 16:42
Yeah. So this soul data that we have is not something that's publicly available, you have to have a real estate license to log in and actually see sold data. So what we do is, the automatic sold valuations that you'll find or the property valuations you'll find on websites don't work very well in Canada, because the privacy laws don't allow that data to be available outside of a privacy wall are a password protected wall. So to see sold data on our site, across Canada, you have to be able to create an account, you can see active listings without an account to a certain extent, but you can't see sold data. So we'll allow somebody to request a valuation. And what we found is it would turn out such an unrealistic price, because the data was harvested from a place that's not super accurate, what we do is we'll just provide full CMAs, or full appraisals for free. So if somebody pushes that button on our site puts in their address and clicks go, one of the agents will reach out and just literally have a quick chat with them, email it over. And we just do it on mass for free. And it it offers a lot of value. So people don't feel like we're just trying to like, squeeze a deal out of them. If they want to know the value of their house, we just provide it accurately. And then we'll make it even more accurate if they let us see it in person, of course, right.
Brian Charlesworth 17:55
So are there other software platforms out there that are doing CMAs?
Kory Prince 17:59
It's usually just an individual agent doing it themselves through their own MLS, that's predominantly what it is ours, we integrate it into our system. It's so quick, like I can do a CMA on a property in less than five minutes. It's just a very standardized way to do it. And it sends them a link where they can view it on our website, which is really nice. And then they can go back and request a new one, if it's been a year or two. Or if they asked me, they say, look, I like knowing this, but I'm not going to sell for five years, can I get one of these once a year, I can just set it up to create like that. And they don't have to feel like they're bothering us, right provides a lot of value for people on the site.
Brian Charlesworth 18:36
So this seems like something. I mean, you do have the Zestimate from Zillow in the US. But this seems like something that, that everybody who owns a home would want access to do people pay you for this
Kory Prince 18:50
no, we get occasionally get people that will offer to pay because they feel bad about like taking our time to create an appraisal. But this is our business. So like there's a book that I read a long time ago called The Go Giver by Bob Berg. And it talks about the law of value. There's five laws of stratospheric success. And the law of value is giving more in value than you ever taken payment. And that's like one of the tenants of our company. And if you do that with prospective customers over time, over months or over years, when the time comes for them to consider selling or buying a property, they're going to come to you if you've been pouring into them with no expectation of a return. The retention rate on that is really high. And then the referral rates extremely high too because they're like, well, this team did all this for a two year period. I didn't make any they didn't make any money off of me. And then they did a deal and they were actually exceptional. They did really well. So we're trying to give more in value than we take in payment. That's kind of the gist of it. I was actually
Brian Charlesworth 19:47
listening to Tony Robbins this morning and he said something very similar to that. I'm trying to think exactly how he worded it but he basically said over the next five years, those who bring the most value in their industry will completely dominate the industry. So just speaking about, it's all about bringing value, right? So many times we want something without bringing value if you're not bringing value, people don't have no reason to work with you.
Kory Prince 20:11
Yeah, like nobody cares what you know until they know that you care. Yeah, right. You could be the greatest, you'd be the most proficient agent at negotiating. listings, whatever it is negotiating deals. But if the people that you're talking to his prospective clients, don't think you care about them, and don't think you're going to put their needs above your own, they won't do business with you. I think it's that simple. Yeah.
Brian Charlesworth 20:36
So I'm still intrigued by this, because it seems like you've kind of gone over the top here, like, how many developers did you have develop this? And how long did it take you? How much money have you invested? A lot of questions about,
Kory Prince 20:51
like total, I've never really told numbers, it's over seven figures total for the entire system, for sure. Like what from start to finish. And I played with iterations of other systems, which we abandoned, because they just weren't a good fit, or the way they would tie into data didn't work. So yeah, it's been a 13 year journey ever since I got licensed. And it's in the very beginning, when I first got licensed, I was living in a province in British Columbia that I wasn't from no family, or anybody there. I didn't have any friends when I moved there. So I knew very early on from getting licensed, I wasn't going to have a lot of friends, and a lot of families wanting to do business. So I wanted to fill my pipeline. And the way I did that was I started learning Google Ads back when it was called Google, AdWords, Facebook, Instagram, all these online lead generation systems. And in doing so, as an agent, I would do that at night, will I be in production during the day, I realized that like data analytics, and data science is actually like what I'm interested in more than selling real estate. And fortunately, I've been able to partner with people that very much like selling real estate more than data analytics. And together, we make a good like, synergistic combo. Right. So yeah, I don't know if that answers your question, a lot of money, a lot of time and a lot of headaches. And now it's does pretty well. But I'm always optimizing it day by day, right? Yeah.
Brian Charlesworth 22:09
So you just said, Cory, you said, I'm in business, like, Yes, you are in the real estate business. But you just said your passion is data analytics. Yeah. And you've built a company, you've spent seven figures building a company or a technology, I should say, maybe not necessarily a company, but a technology that brings value to all of Canada, I would think there's a way for you to monetize on that,
Kory Prince 22:35
that has been in my wheelhouse for many years. And right now I'm focusing on how to add a ton of value to like the team members and the partners on the team, the agents, and a lot of them have been around since the beginning. Like in the very, very beginning, they signed up. And we're thinking of like equity positions where they get ownership, and they get a piece of it as it grows. And who knows who knows where it's gonna go eventually. But right now, it's a very high functioning team, which scales really well. So we're, like I said, Well look to add people in the rest of Canada at some point. But right now, just heavily focused on the Lower Mainland, we've got as many agents licensed within an hour and a half drive of our major market that are in the entire state of Utah. That's how many agents are in that market? And that's the second biggest market in Canada, Toronto is the bigger market.
Brian Charlesworth 23:25
How many agents is that? 20,000 20,000? Okay, yeah,
Kory Prince 23:29
yeah. Wow. And then I think the Toronto Board has 40 or 50,000. I don't remember the number. But it's, it's a lot. And that's just in Metro Toronto, like within the Greater Toronto Area. So they're very big boards. And with us, we're not looking for every agent, because not every agent wants to be on a team, but the ones that are willing to have a conversation about it and get on a zoom call. Once I show them under the hood a little bit and talk about what the benefits are. They start thinking about how much money it'll net and how many problems will take away. And then a lot of them get pretty excited when we put them through the process and realize they just have to pick up the phone, do the deal and hand off the paperwork and have somebody else do it. Right. Right. Pretty cool. Yeah, right. Exactly.
Brian Charlesworth 24:09
So you said you're using chime and Sisu or the and this technology that you built which is actually called countrywide. Is
Kory Prince 24:16
that right? countrywide Real Estate Group is where that's all founded. Yeah.
Brian Charlesworth 24:19
Okay. Are you using any other technologies? Or is that your tech stack?
Kory Prince 24:24
The two main ones are chime Sisu and then we're exp we're brokered by exp. So sky slope is the third one, which chime in seems to work really well, because it goes into Sisu from chime. And it goes from chime to or from Ceaser story to Sky slope. So you never have to input the data. Once they sign up on the website. It's it just pushes over to where it needs to go. Those are the main ones. I use some other stuff for mailers, like mailbox power, Send Out Cards is another one that America has actually I think they're based out of Utah, ironically to send out mailers, brownies, birthday cards, things like that. Yeah.
Brian Charlesworth 24:58
So you've been to his Sisu mastery, and we had one this week. Yeah. And you know how it is at Sisu mastery, a lot of new teams to see su come in. And it's amazing how their eyes grow and get bigger as they realize that they don't need to enter the same data into their CRM and then into Sisu, and then into, you know, a Trello, and then into sky slope. And that, you know, just streamlining that process. So there's no duplicate entry. Yeah, can save you an hour or two per transaction. So now you start talking about doing 1000 transactions a year? How much money have you actually saved?
Kory Prince 25:40
Yeah, I think I think Zach actually said it best. Or maybe it's in one of your help sections, it says, one of the articles it says, stuff doesn't go into Sisu, it runs through Sisu. And that's very much how we do it, it starts at chime, goes into Sisu, and then goes through. And the basic functions of our business are filling out forms, which have the key dates, which populate the dashboards, which do everything. And then you never have to wonder what your data, the integrity of the data is, the way the forms are built. If it's a required field, they have to fill it out to submit the form. Therefore, we have that data point. Therefore, it shows the reporting, therefore we can do the one on ones and show agents where they need to improve and how to do it. And then it's up to them. You know, they say they want to make X amount of money and shine up and hold up a mirror and say, did you do it? Or like, Did you live up to your commitment? And if they didn't? Do you want to recommit? And you just show them a path over the next seven days? And they jump on to the jump off? Right? It's, it's all up to them?
Brian Charlesworth 26:36
Yeah, so a couple more questions before I let you go here. So if you were to give advice to our listeners, like what is the most important thing someone should be doing in this real estate market? Which it sounds like the market in Canada is very similar to the market in the United States? But why should somebody be doing today so that they can grow their business in this market, instead of having their business decline?
Kory Prince 27:01
I'd say there's in our company, we call it green zone, yellow zone and red zone activities. So green zone activities are revenue generating activities that pay the bills for a realtor. So prospecting for new clients, listing appointments, negotiating deals, these are really the high value open houses, the high value things that are going to generate business, do that 75 or 80% of the time, anything else that doesn't fit into those four or five things, delegate to an assistant or delegate to a virtual assistant or something like that, that you can pay a fraction of what your hourly rate could be. If you're a realtor, and you're productive, you probably can make four or $500 an hour or more, on average. But if you're doing something, you can pay a VA six bucks an hour to do, you might like doing it, it might give you like a feeling of satisfaction. But it's tripping over dollars to pick up nickels. In my opinion.
Brian Charlesworth 27:54
Yeah, that's great. That's great advice. Yeah, I see that all the time. And I think I think part of it is people may want to use an excuse uses an excuse, right? Like, I don't really want to prospect I know, that's where I make my money, but I don't really enjoy prospecting. So rather than prospects. I'm just going to follow up and talk to my people that are under contract. And, you know, we'll get those three closed this month. And then next month, I'll close nothing, because I'm just focused on getting those three closed. And they're on that roller coaster. Right, so. So that's great advice. Just focus all of your time on things in the green zone, which is the money making zone.
Kory Prince 28:36
Yeah, my my partner, my business partner, the Director of Sales Ziaja. He says, You don't want a heartbeat business. Heartbeat business is that roller coaster ride, right. And the way you prevent that is you prospect, and you fill a pipeline for the 20 or 30 people that are in the car or listings, and you can transact four or five of those a month and have a great life. If you don't have 20 or 30 people in your pipeline and adding new ones each week. You're gonna struggle. You just are Yep, we've all
Brian Charlesworth 29:03
seen it. Changing the topic of real estate a little bit being in from Canada. Where is it? You'd like to vacation?
Kory Prince 29:09
Anywhere sunny and warm?
Brian Charlesworth 29:13
What would that be? Where's your favorite place to go?
Kory Prince 29:15
I like Mexico. My wife just got married in May my wife's polish. So we're gonna go visit Poland next year. Hopefully, I've been to Europe, but I've never been to Poland. So that'll be cool. I don't think Colin's warm though, right? No, no, it's like in the summer. It'll be fine. But we'll go there in the summer for sure. Summer Poland has a winter like we do for sure. Yeah, we're like very similar weather to like Colorado, or Utah. Probably Utah is pretty similar to right. Yeah. So I like I like Mexico. I like you know, Thailand. I like Hawaii. I like anywhere that you can get on a jetski and come back and have a margarita when you're on vacation. That's what I like.
Brian Charlesworth 29:48
Anything else you'd like to share before we wrap up today?
Kory Prince 29:51
Yeah, like I just appreciate the opportunity to have a chat. It's been since April, I think in April is when I met you in person for the Sisu mastery. So really, really awesome to see you again. And I've been in this business 13 years, which is not a really, really long time compared to some. But I've learned that it's so much better to collaborate than it is to be super competitive. So agents who want to reach out literally no potential to join my team at all, I'll get on the phone, I'll extend a text back and forth. I feel like it's so rewarding when somebody does really well, because of a little tweak, or a little like reminder that I can give them even if I have no chance to make any money off of them professionally. I feel like that's like my purpose these days. So I really, I'd be I'd be open to that if anybody wants to reach out.
Brian Charlesworth 30:33
So if somebody wants to reach out, Kory, what's the best way to get ahold of you?
Kory Prince 30:36
There's a couple of ways. I'm on LinkedIn, Kory K.O.R.Y, last name, Prince first and last name. I'm not on there. As much as let's say Facebook Messenger, or my email directly. I'll give it to you as well. It's just Kory K.O.R.Y at countrywide. Real estate.ca. So email@example.com
Brian Charlesworth 30:56
Okay, Kory, thanks for joining us on the show today to all of our listeners. Thanks for joining us on another episode. And it's interesting for me to see how you do business in Canada versus the way we do here. And there's so many similarities yet. You've got this tech platform that has me really intrigued. So again, thank you for joining me, Kory, great spending time with you again, and to all of our listeners. We'll catch you next week on next week's episode. Thanks again for joining us today.
Kory Prince 31:23
For sure. Thanks so much, man.
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