Good morning, and welcome to another motivational Monday. My name is Matthew Hodge, executive vice president here at LPT Realty, joined by Robert Palmer, founder and CEO. How are you doing this morning? I'm great, man. Fancy. I am doing great. Good morning, everybody. Yeah. Big big weekend, big week. Yeah. This week, big lots of stuff going on when we're here. That's right. That's right. BBA marathon continues into our second week. We hope you guys are enjoying the first half of the week, and you're finding a lot of nuggets and sessions. And we've seen so many people continue to join quite a few sessions and just hear the information over and over again. It really start to, you know, perfect how they're thinking about it and how they're gonna talk about it. And we've we've seen this kind of I call it a great awakening, from this glass ceiling that we've always had where commissions are like you know, know, when we say commissions are negotiable, we forgot that you can go past three percent. Yeah. That doesn't just mean doubt. Right. It doesn't it doesn't just mean down. Yeah. You can add more value and go up. And, and while the conversation has largely been about, you know, the decoupling of the commissions and how do you explain that to the buyer in in all those pieces. The focus is on bringing more value to the transaction, and the dollars will take care of themselves. So while we talk a lot about the commission aspect of it in the percentage, that's not really what we're focused on. What we're focused on is helping you bring more value to the transaction so you can actually increase your commission. So I know we're gonna talk through a lot of those things today, but excited for the first week that we've had. Excited to continue the second half of this, this marathon until we get to our final event this Friday on Real Estate First Friday. So Yeah. How do you feel like it's gone for the first half of the week? Dude, I think it's been amazing. We've had so much great feedback. We've you know, I think we've gotten the right balance. Like, we did a lot of kinda tactical, but then also a lot of just, hey, mindset, like, preparing people. Like, it's it's okay. Right? There was so much panic, and there's a lot of misinformation out there. You know? And and speaking of misinformation, you guys might notice I I shaved my beard. Yeah. So I actually I I read a post in a Facebook group that said CEOs of top ten brokerages will be fined by NAR after eight seventeen if they if they had a beard. And so I I cut my beard off, and then I found out that that was misinformation. I don't know. Yeah. And I saw it on I saw it on Facebook, so I I thought it had to be true. And so I ran in the bathroom, and I shaved I shaved my face as fast as I could. And then and then later, Jill was actually reading the NAR FAQ, and she's like, hon, that's that's nowhere in here. I I don't I don't know why you did that. Oh, my bad. But here we go. It'll it'll it'll grow back fast. But, yeah, just so watch out for that, watch out for that Facebook misinformation out there floating around about the NARS settlement. There is a whole lot of it, and we've been covering that, we've been covering that in the, in the in the fifth the thirty or fifty sessions Right. That's right. That we've had so far. That's right. So we've had a lot of, requests for role playing, and I know we've, adjusted the calendar this week to include role playing for buyers, role playing for sellers, couple different scenarios. What does it look like for existing clients? What does it look like as we meet new people? And then a lot of objection handling. Hey. What if someone doesn't wanna do that? And I know we're gonna talk through that today, but that's what you'll be prepared for the second half of this week. So if you wanna go ahead and jump us in right into, this week's content. Yeah. Let's do this. Alright. We're gonna do a little recap. We're gonna talk about some of the highlights conceptually from last week, and then we're gonna get into next week's calendar. Again, this is sorry. This week's calendar. Here we are. Week two calendar. This is our second week, and then we're gonna cap everything off on Friday with Real Estate First Friday where we're gonna launch some new tools and some new technologies. Again, we made this very strategic decision to focus you know, again, we have to understand, there's a lot of agents that that were very different levels around the settlement. And we I would say we started off Monday with some people like, I really don't know what's happening. Right? And then we had other people like, I feel good about it, but I've got a little bit of a little bit of misunderstanding or I just need more confidence. And so we really tried to gear week one to meet everyone at their different kinda wherever they were. Mhmm. And it's why we had so much content. And then the really cool thing is we got a lot of feedback too. Like, the the information from the chat, you know, the information, people sharing stories with us. Again, because our leadership team was meeting with agents five times a day, every day, Tuesday through Sunday, and we're gonna keep it up this week, we got a lot of great information. And I I told this story on the Friday night session. You know, we've we've got our our pre we're calling ours a pre showing disclosure and agreement. But the idea is if you want that lesser committed agreement, actually were making changes to it on Thursday based on information we had heard. Yep. Yeah. One of the big misses we've seen on some of the other forms out there, and we made this mistake too, was they didn't account for the transaction fee. That's right. It was just like, hey. Percentage or flat fee. Well, in most cases, it's actually both. There's a percentage and a flat fee because of the transaction fee. Couple of little things we did stylistically as we're understanding how buyers and sellers are communicating. Yeah. The more stories you guys share with us are fantastic. You know, hearing about, hey. This is how it went with this seller. This is how it went with this buyer. This was the objection. This was how they felt. This was what they thought. And we're using all of that to, again, continue to shape our forms and even some of the tools. We're gonna be, again, it's ready to go, but if we can improve it, if we can take feedback from these last last week and this week and make it even better, that's what we're doing. And and what I would tell you is this is a living, breathing thing. We're gonna talk about the bad drivers on one of these slides, because that is a real thing. Right? We we are in a very collaborative business, and there are other brokers doing things that are not necessarily in line with the spirit of settlement or the settlement. We have to be ready to adapt to that. So with that, Davy, let's kick off this the deck, and let's get right into it. Alright. Oh, I guess before we jump into BBA, this is, the one thing we could not move this week. Everything we controlled, we kicked out this week and made this week all about, buyer, bro. However, the Florida Realtors Trade Expo is this week. We're gonna have a big presence down there. Larry Bird will be running around in the bird costume. It's free to attend the exhibition hall, and then, obviously, you can buy a ticket to the additional content that's going on at the shingle rosin, shingle Rosen Shingle Creek. There it is. The Shingle Rosen Creek is maybe not what it's called, but close enough. Rosen Shingle Creek, and the Sebastian Baum. So if you're if you're a Florida agent, we're gonna be there. This year, we're gonna try to get out to more state, conventions, but this year, Florida, I think we're probably gonna do Texas. And, again, as we as agent count grows, we go more places. But I wanted to definitely wanna put that information out there. If you're in Florida, you can come see us at the Florida Realtors Trade and Expo. Next slide. Yep. Alright. And now into to BBA. Okay. Let's get it. Alright. So a couple of week one highlights. We've now completed thirty sessions out of fifty. It was over twenty hours of live content. So these sessions range from thirty minutes up to about fifty minutes. Twenty plus hours of live content we put out in the last week. Seventy five hundred agents attended over the last, whatever it is, seven days up to last Monday, which I think is is pretty amazing. You know, when you think about we're we're just under twelve thousand agents at this point, and seventy five hundred people have logged on, to these sessions. So absolutely amazing. And, again, we we could not have reached that with one single session. Motivation Monday doesn't reach that. So pretty fantastic. And that doesn't count people watching in groups, people watching together. So, again, we we may have even touched more of the brokerage in that. We had nineteen different instructors, all in leadership across the board and one only one brokerage for life. I like that little stat there at the end. Nice stat. So that's our week one highlights. Next slide. Alright. So couple of topics that we talked about, the Mahaj, that I want us to kinda discuss. These were some of the high points of the of the first twenty sessions. So one, this this came, I think, on maybe day one, talking about this concept of don't take a no from someone who can't give you a yes. So if you wanna come back to us, Dave, we're gonna jump into this for a minute, and we'll kinda go back and forth between Hodge and I and the slides. So maybe come to the the two shot of Hodge and I. So, what is it what do we mean by this? And and the big thing that I want to encourage you to consider is I see a lot of agents getting hung up on trying to understand what the proposed BAC to be paid by the seller is. And and that proposed word is a really important way for you to think about it. Because, look, under the new settlement, you have a buyer broker agreement with your consumer. That is the amount of your compensation. You then can ask the seller to pay that compensation either via direct payment of buyer's agent commission or via concessions. Alright? So when a listing agent and a seller propose an amount of BAC to share, right, or to include in the price or to be able to answer the phone and say, yes. We already have two and a half percent including our sales price. That is just the proposed buyer's agent commission. Correct. That does not mean that's the actual buyer's agent commission because guess what? If you have a a buyer's agent agreement at one percent and your buyer is unwilling to sign an amendment, then your compensation is only one percent even though the seller proposed two and a half. If you have a buyer agent agreement and it's at it's at three and the seller proposed two and a half, you can ask for another half percent in concessions. You know, you could potentially use a lender credit to cover the other half percent from a lender. Your buyer could bring their own funds for that extra half percent if there's excess closer, excess seller concession towards closing costs and your lender is charging less. So, again, it is very much proposed, compensation. That is what the seller is proposing. And and so what I really want you to understand is this idea of don't take a no from someone who can't give you a yes. Alright? The listing agent may know what the proposed amount was. The listing agent may know maybe the seller told him they weren't gonna do this or do that. I saw a post recently where, and again, this may just be Facebook trolling, but they said, oh, the listing agent said they're keeping all six percent for themselves. They're not they're not gonna pay any buyer's agent commission. I will promise you if an offer comes in asking for buyer's agent commission, the seller is gonna look at their agent and be like, wait. Wait. Wait. Wait. You want you want the six and you think I'm gonna pay them three? I mean Mhmm. The listing agent does no longer have complete control over what you make. And so the idea here is do not take the no from someone who cannot give you a yes. So what I would say is even if a seller or even if a a listing agent says, hey. My seller is unwilling to pay buyer's agent commission. I think you should still submit asking for it. Right? Submit your compensation agreement with your offer. Again, certain states will allow you to put the compensation right in the contract. Other states require that that the compensation be in a separate addendum, to that contract. But, again, go ask for it because you do not know what the seller is actually gonna say yes or no to until they are presented with the offer. And so what I think is I think there's this danger in guessing what they think the seller is gonna do or what the seller wishes they could do or what the listing agent wishes the seller was gonna do or thought the seller was gonna do, you know, just go in and ask for it. And so my recommendation is still show the house, submit the offer. If they are unwilling to give you the concessions needed for your buyer to be able to consummate the transaction, then the offer isn't gonna be accepted. That happens to us all the time. Now imagine if you try to pre negotiate every contract before you showed a house. Right? Think about how how would a hey, seller, before before I show you this, how before I show this house, I just wanna make sure. Are you gonna accept two percent under asking price for the offer with five thousand in concessions and a a a sixty day close and a contingency on my house? Like, we don't try to get all of the details negotiated upfront. So very much understand that this is no different. This is just part of the overall negotiation now. So I would encourage you to not get hung up on what the seller thinks they're gonna pay or what the listing agent prenegotiated and still show the house. You have a signed buyer broker agreement to protect you and then ask for that compensation as a part of the offer and then let the seller tell you no. That's right. Because, look, they may if they have multiple offers, maybe they do. If you're the only offer, they may say yes. I mean, this is how I would approach it. Now, again, you're an entrepreneur. We're not setting hard fast rules around this. We're not telling you you can't ask in advance. Right? We're not telling you you have to ask in advance. I I saw this. Again, one, an agent told one of our agents, hey, I'm not allowed to show houses per my broker unless I have the amount of the the proposed buyer's agent commission in writing. Like, that's insane to me. Yeah. It's crazy. But, again, these are things that are happening. We're gonna get into the bad driver examples. But the important thing here is LPT is not dictating how you do business. We are sharing advice. My advice is to serve your clients at the highest level and make sure that you have as much opportunity as possible to continue doing your job. Do not let someone talk you out of showing a house with what could end up being misinformation, misconception, or maybe even just overzealousness. Right? Like, no one knows how all this is gonna play out. I would still show the house and then just, again, when you put in the offer, you say, hey. We need an extra three percent in concessions. Right? If the seller is is bent out of shape on calling it commission, ask for it in the form of concessions. There's a lot of different ways to communicate this, and that's why we've had all these sessions because we're really trying to walk you through all these different what ifs and the whys behind it and the psychology behind it. But the important thing to remember is do not take a no from someone who cannot give you a yes. And ultimately, the listing agent no longer decides what the seller is or is not willing to do. So if the listing agent says we're not paying your commission, I would take that with a grain of salt. I would still submit the offer That's right. And I would ask the seller to pay the commission. And then you're gonna actually get the yes or no from the only person who has a right to say yes, which is the seller under the new settlement. That's right. Next slide. Oh, go ahead. Yeah. Yeah. And you wanna add there, Brad? I want yeah. I just wanna highlight something that you said because it's so important because you're right. You are calling the listing agent to ask us something that they don't have the ability to say yes or no on it. And people don't really understand that's what's happening. Hey. I wanna make sure that your seller is doing x. Well, you're they don't have the ability to say what the seller is going to do because there's nothing to talk about yet. There's no negotiations that have happened. Right? The commission is negotiable. That's at the time of offer. So before you have something to negotiate, like, why are you talking about terms that don't matter to your point? And so, again, just really let that sink in that you've when you're calling around asking is the seller going to do x, you are prematurely asking a yes or no question to someone who has no bearing on what's gonna happen there. Yeah. Yeah. And real real quick, something I just saw on the chat. So in in the states where we can put the compensation in the contract, it's easy to say, like, hey. This contract is contingent upon the seller paying, you know, the three percent as agreed to by the buyer's agent. In states where that is not allowed, I would use concessions. Right? So I would say, hey. My offer is contingent upon the seller paying six percent in total concessions to my buyer, which in our mind is gonna be maybe three percent for closing costs and then three percent for commission. And then when you include include your additional compensation agreement, you will outline that the compensation requested in this agreement is already included in the six percent concession requested in the contract. So now your seller can't take the offer without taking the compensation. Right? So, again, you can't call it commission in the contract. We get that. But every state allows for seller concessions to be included in the contract. So include the amount of seller concessions total needed for both closing costs and commission. Don't call it commission. Just call it concessions in the contract, and then have the supplemental agreement that explains, hey. Three percent of that concession is going to cover this compensation agreement on behalf of my buyer, and that will fly in all fifty states. So, again, you don't you don't wanna find yourself in a situation where a tricky seller says, hey. We think we're going to accept this, but not accept that. Okay? And look again, a look. I I will I will happily debate this with folks. If the buyer is paying the commission, a concession can be used toward buyer closing for us. I mean, yeah, in any state. And I I know Texas folks maybe think that's not the case. I'm gonna get our Texas attorneys on the phone. We're gonna dig into this deeply. Again, it it is not compensation from the seller to the buyer. It is the buyer paying this the compensation to the agent and then the seller giving a credit to the buyer, which the buyer can use for anything they want to use, including a fee they have agreed to pay to the buyer. That's right. Alright? That's correct. So, again and look, even on even on VA loans. Right? VA's changed. Like, I think we're actually in a a really great place on this, but I understand there's some concerns around Texas. So, Tracy, let's let's set up a meeting with Texas legal counsel and really go through this. Because, again, I I this is one I'll fight. I mean, we'll we'll fight this because, again, we're not saying it is not a concession to pay commission directly to the agent. It is a concession to pay cost that the buyer has previously agreed to, which is no different than closing cost points, whatever. And so, again, we're gonna really dig into that because I want our Texas agents to feel absolutely, confident in how we're doing this. And I know that Texas has changed yeah. Texas has changed their contract. I see a great note there from Pam to allow for compensation. We're not talking about that. We're talking about concessions. Alright? And, again, using concessions to protect yourself is important. And these are the exact type of things we're digging into because these are live and happening in real time. Because the the way we envisioned all this a month ago, two months ago has changed. Right? That's right. Because we're seeing what's happening out in the field. We're seeing how other listing agents are reacting. We're seeing how buyers and buyers agents are reacting. So fantastic. Alright. Next slide. Alright. So this is another concept we've talked about. And and so what I want you to understand here, this little graph we made, on the left is the level of commitment requested. And and then across the bottom is their perception of your position or influence. Now, that word perception is very important. Alright? And so the idea here is, if you are asking for a lower level of commitment, like, hey, I'd like you to come meet me at a property. That's a very low level of commitment. So their perception of your position and influence as an agent doesn't have to be very high for them to meet you. Now if you're asking for a six month exclusive buyer broker agreement, you need a higher level of their perception of your position or influence. Now what you don't know is you don't know what their perception is. You may walk into clients and because of your marketing, because of your reputation, because of a referral from a friend, because of you've done business with them in the past, their perception of you may already be high enough that before you ever meet them in person, they're willing to sign a six month exclusive buyer broker agreement. Right? Other people who maybe are an Internet lead or whatever, their perception of you may be lower to where asking for something like a six month exclusive BBA on the very first meeting may be tough. So So why do we talk about this? And again, it's about their perception of you. And and we have our own perception of ourselves. Right? But your level of perception isn't what matters here. It's the potential client's perception of you. And so one of the things that you need to be aware of is as you are having conversations, and we did this in one of the role playing the other night. Norkis and I did it on Friday night. You can go pull that recording up. Is I was gauging her perception of me based on comp the conversation we were having. Right? As she would come at me with an objection, I would then use that to understand what the, what her perception of me was. Right? And then and then respond accordingly. And every time I respond to her, my goal was to increase her perception of my influence. Right? To position myself, to show her, hey. I am the expert. I do understand this at a very high level and increase that up to try to get her to commit to me at a different level. Now let's go to the next slide, Dave, because the the important thing here is we are trying to meet the consumer where they are. Alright? And so it's where they are in their perception of me, which then determines how willing they are to commit to me at different levels. And so the concept that I went over that night in the role play with Northeast is this idea of a multistep buyer broker agreement. Alright. So come on back to us, David. What what day was that real quick? Just Friday night. Friday night. Okay. So I think it was the ten PM The ten PM? PM or the ten PM Friday night. Ten PM. Multi step BBA. So what do I mean by this? Alright. So let's say that I'm I'm meeting Matt. He's gonna be in northeast today. He's gonna be my buyer. And, you know, I can tell that he is not ready to commit to me. Right? Now, look, if if if I've sold Matt multiple houses or Matt is my friend and I know Matt is gonna work with me, then I would say, hey, man. Like, look. Before I show you this house, we're gonna sign this this buyer broker agreement. It is six months. It is exclusive. You know I'm your guy. You know I work hard for you. Like, we're not gonna mess around with stepping our way up. We're just gonna go ahead and sign the ultimate agreement. Mhmm. Because I know that Matt's perception of me based on past business is in a place for me to do that. Now flip that around, and and Matt is someone who is very analytical, has bought a lot of homes. I can tell that he is not ready to make a six month commitment to me. Alright? So this is my recommendation. I'm going to ask Matt to sign a one day exclusive buyer broker agreement or a one day nonexclusive buyer broker agreement. Right? Or if it's available in my state, maybe a touring agreement. Right? It doesn't matter what it is. We're just trying to lower the commitment. And a one day buyer broker agreement is just as low a commitment as any type of touring form or whatever. Right. But what I'm doing is I'm giving us a way together, Matt and I, to meet the requirements of the settlement. Right? We have to have a written agreement outlining our compensation. So I'm gonna say, look, Matt. I understand you're not ready to commit to me for six months. My goal is to earn that from you, though. Like, I'm gonna show you how amazing I am. I'm gonna show you all the tools I have. I'm gonna show you how hard I can work for you in trying to find you off market properties and negotiate for you and all these things. So you're gonna wanna sign a six month commitment with me because you're gonna wanna make sure that I am all in on serving you. But right now, we're just gonna go see this one house together. So all I'm gonna ask you to sign right now is a one day agreement. Right? Here's the buyer broker agreement. We're gonna have it expire at midnight tonight. We're gonna have it expire tomorrow. Basically, all you're doing is committing to me that if you buy this particular house, this is the compensation I'm gonna make. And now we're gonna see that house tomorrow and just know that I'm gonna spend the next hour work together making sure you understand why you should commit to me for the next six months. And when we leave this house, I'm gonna understanding how to use these different tools, understanding the step up to say, hey. I'm gonna start with a one day commitment, and then I'm going to go to a three month or six month commitment. Right? This is how you move in. And if we go back to our graph, if I understand that my that his perception of my influence and position is not high enough yet, I'm going to ask for a lower commitment. And a a great low commitment to say, hey, man. I'm gonna ask you to commit to me for one day. Right? I mean, think about how low of a commitment that is. And, again, there's other ways to do this. You know, Texas has a great touring agreement. On Friday, we're gonna launch our pre showing agreement. These are meant to be lower commitment agreements that still meet the requirement of the settlement. But you can do it right now today in dot loop. Right? Go into dot loop, set it up for a one day commitment, ask Matt to sign it on his phone, on dot loop, in the parking lot of the house, whatever. Hey, man. Yep. Legally, before I show you this house, we gotta have this sign. But all I'm gonna ask you for right now is a one day commitment. Where, again, if I know I have the influence with Matt, I may I'll ask him for the six month commitment right there. This is where you as a professional have to understand your consumers and meet them where they are. That's right. K? Alright. So, and again, these are the types of things we are digging into in this week's classes. We got into it in the previous classes. We're gonna really get tactical this week because we have a better understanding of where people are lacking. But, again, this is the types of strategies. This was the Friday night role play. We We talked about it again on Saturday morning. Everything I'm covering here is a highlight from last week's sessions, and then a lot of this is things we're gonna dig into much deeper in the coming week. But, again, this idea of the multistep commitment, the multistep buyer broker agreement, and there's lots of different forms to do it with. Every single state has a mechanism in Dotloop right now for you to do one property, multiple properties, one day, six months. All these things exist in different states. Understand how to use them. Alright? Perfect. Alright. Next slide. Everyone has a plan until they get punched in the mouth. I absolutely love this quote from Mike Tyson, because this really is what we've gone into here. And you can go ahead and throw up one more slide. Yep. And so, what I mean by this is we have to watch out for bad drivers, we have to be ready to pivot, and there is no perfect road map. Alright. So with that, you can come back to us. So one of one of the things that we really struggled with is, originally, we were gonna just kinda say, hey, here's how we think this should work. Right? Like, here's what you should do. Go get this form signed, then go get this form signed. Right? And then and then whatever. And I know you guys are asking a lot of very detailed questions in the chat. A lot of this is state specific. So I will say the same thing I've said on almost all of these calls last two weeks. Make sure you're on your your state specific class. Ask these questions of your broker. I'm talking in national generalities. You can probably find them in MLS or a state somewhere in the country that that will make me wrong. Again, talk to your local brokers. Take your state specific classes. They can get in to the exact forms, and and you they can walk you through, hey. In our state, it can't be six months. It can only be ninety days. Hey. In our state, it can't be one day. It has to be three. I don't know how much of that's the case, but I think the idea is soft commitment to hard commitment. Now go to your state class and make sure they walk you through the exact forms. Every single day, we have state specific classes. You can go into, you can go into knowledge base, put in BBA. They're all there. We've been having those for two months now. We've ramped up the frequency the last two weeks. Those state specific classes are irreplaceable. The the high level stuff we are doing as a part of the BBA marathon is not a replacement for your state level education because that's your state's forms, your state's rules, your state's individual guidelines. But I am pretty confident that these high level high level strategies and tactics we're talking about can be adapted and used in every single state, maybe with some type of slight tweaking. Okay? So, this idea of getting punched in the mouth. So originally, we we were like, you know what? Let's give people the road map. Right? We're just gonna tell them what to do. Hey. Go out there and and get the one day signed, and then get the three month or six month signed, and then make sure you write this on here, and make sure you write that on there. What we realized is there are so many different ways to do this that there there is no straight line. There is no single road map that is going to work every single time because there are bad drivers. We are going to get punched in the mouth. We you're gonna do it exactly the right way, and some crazy listing agent is gonna hit you with some nonsense that doesn't make sense, may not even be legal, but you still have to be ready to pivot and adapt. Because, look, the most important thing is making sure that our consumer, you know, gets gets the home. Right? That we we don't violate the guidelines. We don't break the law. We don't get fined. But beyond that, we're not trying to protect the listing agent from getting fined or getting sued if they're doing something wrong. We're trying to make sure that our buyer has the best chance to get the house or that our seller has the best chance of getting someone to go show their house. And so this is why we took this very fluid approach of saying, you know what? Instead of teaching a single class where we try to give a road map that we know now is not going to work. Right? It's like imagine your GPS if just constant roadblocks are being thrown at you every every bit along the way. That is what this has turned into. And so because of the bad drivers, because of getting punched in the mouth, we are having these organic conversations five times a day to try to to try to deal with all the little nuances, try to understand all those roadblocks, all those pivots. But the important thing for you to remember and understand is be flexible and be fluid and try to meet your customer where they are. Right? You may have sellers that are like, hey, I absolutely wanna offer buyer, you know, buyer broker commission. Let's pre negotiate it. I know it may be too much. I may be too little, but I would feel more comfortable having that because I want I want you to be able to say, yes, we're paying this. Other sellers may say, you know what? I think we should test the market. And if we only get asked for one percent, why would we pre negotiate or why would we why would we propose three percent? Right? These different personalities are out there. And so while I think it is important for you to pick your lane and understand your intended path, be ready for detours, be ready for roadblocks, be ready to get punched in the mouth, be ready for bad drivers because all of that is happening right now every step of the way. And so we've tried to be very fluid and talk more about the concepts and the psychology to help you understand what we think is going through the buyer's mind, what we think is going through the seller's mind, what we think is going through our colleague's minds, the things we're seeing colleagues do incorrectly that you're gonna have to adapt to. And and again, none of this was that apparent to us even a week ago. Right. Like, you know, the the some of the classes we intended to teach, we've had to completely pivot and redesign because now we are seeing how people are actually acting out in the field. And and it's been crazy. And, again, that's why we're carrying this through to this week. Right? We didn't just do it the week leading up to the change. We're doing it the week after the change because it is so important that we are here to help you guys adapt and mold. And again and and dispel the misinformation we see online. We spent a lot of time talking about the the two part test. You know, this is an interesting one. There's the working with test Yep. But there is also the touring test, and you have to meet both. Alright? And so the way I've kinda asked people to think about this is use the touring test first. Right? Because if you don't meet the touring test, there's no reason to even test the working with test. And really, the working with test was only added as a way to give us clarification as an industry around the touring test. So the touring test says that you or an agent you have directed, like a Shawami, are entering the home either with the consumer or directly on behalf of the consumer to do a live video tour. So if you're not doing that, if you are not entering the home with them or having someone else enter the home with them on your behalf or entering the home without them but doing a live video tour, if you are not doing one of those things, there is no requirement to have a written BBA. Now it's a good idea to have it early, like, we don't wanna wait till the last minute, but there's no requirement. So then the next test is someone does end up in the house with you. Right? You're holding an open house. A buyer shows up. You are now touring them through the house. Is this considered Is this is this gonna trigger the requirement? This is where we fall back on the second test. Are you working with them? Are you sending them listings actively? Are you helping them make choices around homes? So ignore the working with. I think a lot of people based on information on Facebook got hung up on the working with. Right? Oh my god. We can't send listings anymore without a buyer broker agreement. We can't recommend properties without a buyer broker agreement. That only matters if you are touring a home already. So the touring is the first test, and then then from there so I'm holding an open house. An agent comes in. I'm get or a buyer comes in. I'm giving them a tour. I've now met the touring leg of the test. So then the next question is, am I working with them? Well, if I haven't sent them any listings prior, if I've never talked to them before, I'm not working with them yet. I'm only touring them on a home. Now I'd like to work with them, so I'm gonna bust out my buyer broker agreement and say, hey. I have lots of other houses I can show you. I can give you lots of other great information. You don't have an agent here with you today. I'd like to be your agent. Let me tell you why I'm amazing, and then let's let's do business together. Now you're working with them. Mhmm. But this is the two part test. And and for whatever reason, the working with got a lot of publicity. Yep. I I think because it's scary. Right? It's crazy. Oh, my God. Lofty is sending out thousands of listing alerts. I'm working with those people. I don't have a BBA. So I think what I think what we're seeing happen is that the misinformation that's the scariest tends to get legs because I get it. It's like, oh my god. What am I gonna do? Am I gonna have to turn off all of my property drip alerts because I'm I don't have BBAs on these people? Nope. That's the working with test, which is irrelevant unless you are touring, unless you are going to take them into a home or enter a home on their behalf and do a live video. So again, make sure you understand both parts of the test. Again, we talked a lot about this this week. Next slide, Dave. Alright. Couple of, couple of phrases, a couple of ways I recommend communicating. Again, you as entrepreneurs can handle this however you want. I would like again, if I'm a listing agent, personally, I'm going in and I am not going to pre negotiate. I am not going to propose buyer's agent commission. I I would just prepare my seller and say, look. We're gonna have to pay it. We don't know how much it is. Let's wait for the offers to come in. This gives me a competitive advantage because if if I plant the seed with the seller of, hey. We don't know how much the buyer's agent commission is. I'm three percent. Maybe the buyer's agent commission will be two percent. Maybe it's one and a half percent. We don't know what the buyer has negotiated with their agent. I have now planted the seed in the seller's mind that they may save a a little bit of money. If another agent comes in and says, hey, I want you to sign at six, because they're trying to pre negotiate or propose a full three percent buyer's agent commission, they are now at a competitive disadvantage. So me, I'm gonna I'm gonna go on. Again, you're entrepreneurs. You guys handle this however you want. We are not here to dictate this to you. These are my recommendations. My recommendation is you do not pre negotiate. You prepare them. You make sure they understand it's going to happen, and then you negotiate it on each individual contract. Now I will tell you, my my thought on that even has shifted in the last week because I hear stories about other brokerages saying, we're not gonna let our agents show houses unless they have a two and a half percent pre negotiated buyer's agent commission. Which is crazy. I don't think that's gonna stand the test time. I don't think that last past the next week or two. But if it did, that's something we would need to pivot. I am not proposing a race to zero. I am proposing negotiating on each individual contract. Remember, the buyer and buyer's agent have already signed an agreement. If that's at three percent, if that's at two percent, if that's at one percent, that's at ten percent. If that's at five percent, that's at seven percent. You don't know as the listing agent. You're just trying to guess. We don't know what buyer's agents are gonna get signed. I think you all should go for higher percentages. I think you can show a ton of value. Matt and I talked about this on one of the calls. Offer to send an UberXL to drive them to every single listing as a part of your four percent or as a part of your five percent package as a buyer's agent commission. This is not about the amounts of the commission. This is about the psychology. Right? When your agreement comes in, if the buyer's asking for four percent and you only pre negotiated two, you've now gotta go back and renegotiate again. The thing we have to understand is, this is not about lowering commissions. This is about understanding who is going to negotiate each side of the commission. Right? And so, as a listing agent, you are trying to guess what the buyer's agent asked for and the buyer's agent negotiated. I believe that puts you in a weak position. I believe that puts you in a position for someone else to outsell you, to sell against you. And so again, be wary of it. You are welcome to handle this however you want. You are entrepreneurs. You are professionals. We're giving you advice. I'm giving you my thoughts on the psychology. Because again, even if you pre negotiate a three percent commission, if the buyer's agent already agreed to one because they were a weak negotiator, now what? Right? What was the point of pre selling your seller on three percent if the buyer's agent gave in to only one? Again, all this is gonna come out of the wash over the next couple weeks. But again, this is my recommendations on on how we handle it. But again, you guys are entrepreneurs. You're gonna handle it how you want. Now when someone calls you and says, how much are you paying in buyer's agent commission? Throw our slide up here, Dave. And and both of these are very important whether you pre negotiate it or not. Alright? So if you did not pre negotiate, be ready to say, and make sure your seller understands this. My seller is willing to entertain all requests for buyer's agent commission. We wanna make sure that no matter how much, two percent, three percent, four percent, five percent, whatever the buyer's agent and the buyer agreed to, we wanna make sure that that we're gonna be able to entertain their offer and have them see the house. And, obviously, your seller can say yes or no based on the overall net. If the offer is high enough, your seller wouldn't care if there was a ten percent commission. It's all about their net. Now, if you did pre negotiate a commission, I would encourage you to go one step further and not just say, hey, the BAC is two and a half percent. I I need that backup, David, so I can read it. Not just say, hey. The BAC is two percent, but I would go one step further and say, our price includes two and a half percent of buyer's agent commission compensation, whatever, but we are willing to entertain all requested amounts, so submit based on your buyer broker agreement. Because what you don't want is you don't want someone who has a buyer broker agreement at three saying, well, I'm not gonna show your house because you just told me it was only two and a half. Or if you have someone who has a buyer broker agreement signed at four, and they're like, well, I'm not gonna show your house because you just told me you're only willing to pay three. Right? That's not what we're saying. What you're saying is our price, our list price already includes two and a half percent, three percent, whatever it is in buyer's agent compensation, but we are willing to entertain all requested amounts. So submit based on your BBA. You really wanna get that message out there. We are willing to entertain all requested amounts, make sure your seller understands that. Because again, the last thing you wanna do is have an agent not show your house because you pre negotiated three and they're looking for three and a half. Or you pre negotiated two and a half and they're looking for two point seven five. Remember, there are bad drivers out there. And so just that extra statement to say, our price includes two and a half percent of buyer's agent commission, but we are willing to entertain all requested amounts. So submit based on your BBA. You want to tell them, please show my house. Please submit my offer. Submit an offer to me. Ask for whatever you want. You want ten percent? Put in the offer. If your offer is strong enough, why would my seller say no to it? This is what is critical because we are trying to get in front of the bad drivers. Because there are bad drivers that will say, oh, I don't show houses that only offer two and a half percent. Well, now you just cost your you cost your your seller a potential buyer. But if you say, hey, price includes two and a half, but we're willing to entertain any amount. You got a BBA at four, five, six, seven, eight, nine, ten. Whatever it is, submit it, and we will review it as a part of the overall offer just like we do with inspection periods and contingencies and everything else. Alright. Next slide. Slide. Completing paperwork before receiving value is a normal part of our culture in many businesses. Alright. Read that again. Completing paperwork before receiving value is a normal part of our culture in many businesses. Alright? For a lot of people in our industry, we have this hesitance. We have this reluctance because in the past, we did a lot of work for people before they ever signed any documents with us. We'd show them houses. We would do whatever, and we would not ask for them to sign paperwork with us. This is not normal in most industries. Right? I go to the dentist. I go to the doctor. What is the first thing they do? They park me in the waiting room, and they give me a stack of paperwork to fill out with a whole bunch of personal information on it. My social security number, I'm signing a document that says they'll send me to collections if my insurance doesn't pay, you know, I'm giving them my date of birth, I'm giving them my medical history, like, I have never met this doctor and I am just pouring my soul into this clipboard full of paperwork. Right? This is very normal. I gotta get an oil change. I sign paperwork before anyone changes my oil. I hire a new financial advisor before they ever invest a dollar in the stock market for me. I'm gonna sign a whole bunch of paperwork and disclosures coming from the mortgage business. I can tell you, mortgage people, right, we throw eight hundred pages of documentation in front of consumers before we ever meet them, before we ever give them a rate lock, before we do much of anything. It is step one. So while this concept feels foreign to us, it is not that foreign to the consumer. So that's the first thing is you have to understand that you having reluctance around getting a BBA signed, a buyer broker agreement signed, is is you. That is not necessarily the consumer. Now there are always exceptions to this rule. You will get the consumer that says, well, I bought fifty houses and no one ever asked me to sign paperwork. Yeah. Our industry was really dumb before. Our industry would do that, like we wised up, you know. We had this settlement. We wanted to bring more transparency. We realized that the doctors and the lawyers and all these other guys have it right, and we should probably be getting some paperwork signed before we spend hours driving you around and showing you houses. Like, dumb on us for not thinking of this sooner. So today, now, thanks to this NAR settlement, we as an industry now have to get with the times, and we need you to sign paperwork that explains our relationship, that explains our compensation structure before I take you into this house. Sound okay to you? Sounds okay to me. Let's do it. Again, this is not that big of a thing to overcome. Mister mister buyer, think about the last time you went to the doctor. Think about the last time you got an oil change. Think about the last time you hired anyone for a large purchase in your life. The idea of signing paperwork upfront is not a foreign concept to the American consumer. Because remember, if you fail, they don't pay you anything. If you don't get them a house, if you don't get a house under contract, if you don't find them a house they love, you don't owe them anything. Now again, you can have a retainer. I know there's always examples, you know, whatever exceptions to the rule. But for the most part, just because they are signing a buyer broker agreement does not mean you are guaranteed to make money. It only means you get to make money if you are successful in helping them achieve what they want, which is the right house at the right price with the right amount of seller concessions to meet the closing cost and the buyer's agent commission and whatever else they need. So take that reluctance out of your mind. Just because we, as an industry, were dumb for a lot of years and did a lot of work and spent a lot of time with people before we got doc signed, that is on us. Imagine imagine on the selling side, the listing side. Right? Would you go and take pictures and prepare marketing materials and all this stuff without a signed listing agreement? Of course not. Right? We had it right over there, but somehow we devalued ourselves on the buy side. And I think part of that devaluation was built in the fact that we didn't negotiate our own commission, our own compensation. The listing agent did. So if the listing agent's having a bad day and the seller beats them up on the overall commission compensation, they decide to take it all out of your side. Right? Who has seen a listing in the MLS where it's three percent to listing agent and one percent to the buyer's agent? That's right. It happens. It has always happened. We had no control. And so I think what happened is we devalued ourselves on the buy side because we didn't get to negotiate. We didn't get to determine our own compensation. We were at the mercy of the listing agent deciding how many crumbs they were gonna throw us. I mean, it's a terrible way to say it, but it is the old reality. Now we are able to negotiate and set our own compensation. I think buyer's agent compensation will go up because of this. I think buyer's agent compensation is gonna go up because you're not gonna run into those houses that only pay one percent because that's what the listing agent decided you were worth and they never met you. They don't know how hard you work. Right? They determined your worth. It's crazy. Builders are only gonna pay one percent right now because we don't think agents are very valuable today because the market's hot. That's gone. If you have a BBA signed at three percent, that that builder is going to capitulate because they wanna sell the house. That's right. Or they don't wanna sell the house and another builder will. So this is creating more value for us. Right? And again, on our forms on the buy side, I am all for showing that value and getting that compensation agreed to. I know there have been some companies that have come out with, like, the touring agreements that don't address compensation. I don't love that. I like the idea of a shorter term BBA. Our pre pre showing disclosure has compensation on it. Be proud of your compensation. Be you know, do not be afraid to tell them your compensation. Again, you have value. You now set your own value. And so again, I think overall, we're gonna move in the right direction. It's gonna be messy. There's gonna be bad drivers. It's not gonna be perfect as we get from here to there. But ultimately, you now get to you get to you get to convince your client why you are valuable, why you are worth what you're worth. There are lots of things you can do to provide more value to a buyer. Hey, I'm gonna go prospect off market homes for you. I'm gonna go door knock homes in your ideal neighborhood. I'm gonna give you a love it or list it guarantee where if you hate the house, I'll resell it for free. These are all real tangible things you can give to someone to say, but I cost four percent. K? The agent who will do it for two, the agent who will do it for one, they're not gonna do what I do. I'm four percent. And if the buyer agrees to that, it's now a negotiation between the buyer and the seller as to ultimately how you get paid. Right? But you have set your value. So be proud of the fact that you now control your own value. What's our next slide? Alright. These are some, some of the examples. Did I finish the last slide, Dave? Go back real quick. Okay. Yeah. Completely I'm gonna say it one more time, though. It's that important. Completing paperwork before receiving value is a normal part of our culture in many businesses, and I believe this actually tips things in favor of us as agents because we're able to communicate our value and have the buyer to commit to our value instead of letting a listing agent who has never met us determine how much we are worth. Next slide. Alright. These are a couple of the so we got these buyer role plays coming up, and here's some examples of the personas that we're gonna talk about. And I want to highlight these because number one is important. No big deal. Where do I sign? That is an actual persona. You will have a lot of consumers, and it's probably a lot more consumers than you think. That's right. Again, we have reluctance. We believe there is a problem with this. Maybe we believe our value isn't what what it should be, but, trust me, it is because of how we've been preconditioned, because the listing agent used to dictate our value, not the consumer. Right? Oop. Go back, Dave. So that's a big one. No big deal where do I sign. You need to be ready for this, because you don't oversell this. You don't overbuild value into this. Right? If you're meeting with a consumer and they're ready to sign a six month exclusive buyer broker agreement without you explaining a bunch of stuff and describing a bunch of stuff, shut up and take the sale. Right? Shut up and take the agreement. No big deal. Where do I sign? I I could tell you that when when I had my real estate team for about eighteen months before we launched LPT back in twenty seventeen, twenty eighteen, We sent out an exclusive buyer broker agreement to every consumer upfront, and I don't know, eighty, ninety percent of them signed it without ever asking us a single question. No big deal. Where do I sign? This is a real consumer out there, and and do not overthink this particular consumer. Number two, I heard about these changes. What does it mean for me? Be ready for this. Right? You have to be prepared for this. We're gonna do role play around this in the sessions coming up this week. Number three, I'm not signing anything. I've never ever been asked to sign in something to see a house. Again, the way we handle this is different than number two and number one. Number four, I'm not ready to commit to you as my agent. This is where the softer commitment comes in. So these are some examples of the buyer role play personas that we're going to be doing in the upcoming classes this week. And I'm gonna go over the, I'm gonna go over the that schedule here at the end. And then, yes, I see a question about the mobile app and our buyer broker magazines. We're launching all that on Friday. I talked about that a week ago on Motivation Monday. Talk about it today. I made a decision not to launch any new technology or products during this two week period because we wanted to focus fully on education, on your confidence, on these role plays, on laying the foundation. Because if we give you a shiny new toy to go play with or a shiny new object or a shiny new crutch as it can be used without you understanding the foundation, I feel like that would be a big mistake. And while we absolutely have agents who had already studied this and were already experts on it and probably could've handled it, when I look at the overall family of LPT, this was something I felt was important. So Friday, closing ceremonies of the BBA marathon, we're going to unveil and launch the the mobile signature platform for our pre showing agreement. We're going to launch the buyer power tools box, which has all this stuff in it. We did make one decision, though. We're not putting the, the agreement in the back of the magazine. We're giving you a pad of the agreements, like a tear off pad. Because we we felt like there may be times you don't wanna waste a whole magazine just to get it signed, so we we kinda pivoted there. So originally, my vision was you would tear the the pre showing agreement out of the back of the magazine. Now you'll have a notepad with, like, fifty of the pre showing agreements on it, and you just tear off the top page of the notepad. And that way, again, you're not all again, we've we've evolved. Right? We've listened. We've evolved. It's gonna be fantastic. That is being unveiled on Friday. So make sure you put Real Estate First Friday on your calendar this week because that's when the cool tools and the cool technology are coming out. Yeah. The digital option, you fill out a couple of things in Connect. You hit go. The system text messages the the consumer. They click the text message link. They can esign the one pager right there. Trust me. We have made this so simple, but I needed you all to understand the basics. And with that, I'm gonna tell one quick story. So, early on in the mortgage business, I went to work. I was in my early twenties, and I went to work for a company called Transland here in Orlando. And and there were these forms in the mortgage business that the computer always did for us. One was called a McCaw, m c a w, Mortgage Credit Analysis Worksheet. And this was a government form, and it had, like, a hundred fields on it for calculations. And each field was explained. It was, like, take a times b divided by c, fill in this number, fill in that number. And what I realized is our computers did it for us, and no one on the team actually understood what that form did. And so on one of my very first days there, I made everyone fill out a macaw by hand. Alright? And let me tell you, these underwriters were looking at me with daggers. I actually married one of them. Jill, my wife, was one of these underwriters, and she will tell this story. She thought I was the biggest jerk on the planet because this form with a hundred fields on it that the I see her smiling. You're smiling to hosts and panelists though, babe, not to everyone. She's in the chat. This form with a hundred fields on it that the computer had just always done for us, I made them fill out all hundred form all hundred fields by hand for, like, a week or two. They hated me for it, the whole week or two. But I will promise you when we were done, they actually loved me for it. Right? That's right. I got so many you know what, Robert? I thought you were such a jerk for this busy work or whatever, but, wow, I understand the form in such a better way now. Like, I understand how to make a loan work. I understand the math behind these fields now. And so this was the approach I am taking once again here. Yes. I could have given you all our technology where you click two little buttons and it just shoots it out, But you need to understand what we're doing. You need to understand what it means for your consumer. You need to understand the why behind it. You need to understand your state forms above all else. You need to understand those state forms that are in dot loop. You need to take your state level classes. So So I made a decision. It may not be a popular one. I may be villainized for it. History may judge me for it. But I made a decision that we will be better prepared for what is happening if for last week and this week, we focus on the in-depth forms, we focus on the harder commitment, we focus on understanding the psychology behind the numbers, behind the soft commitment to the more, you know, the higher commitment before we launch the easy button. Because really that's what we're doing. On Friday, we are launching the easy button. I need to show you value. Here's my box. Here's my forms. Easy button. I need to get your signature on a buyer on a showing agreement with compensation on it. Let me click three things and hit go and and send it to you in text message. Our easy button is launching on Friday, but I made a decision to hold the easy button so we could lay a foundation because I know it will make all of you better suited to win in the long run. Alright? And so that's what we're doing. So again, make sure you put Real Estate First Friday on your calendar, eleven, we're gonna be doing all that. Back to my slides, Dave. Alright. So then we've got seller role play. So another class we're gonna do is seller role play. Again, I'm ready to list with you, and I don't know anything about the change. This is gonna happen. And for the seller, it doesn't really change a whole lot. Right? You're gonna you're gonna guide them through, do we pre negotiate BAC or not, whatever. But I'm ready to list with you, and I don't know anything changed. Be ready for that. Don't overthink it. If that is the consumer stance, again, you're still here to guide them and educate them and help them, but don't don't take them down a rabbit hole around all these changes and what it may mean for the for the the industry if it's not necessary. Alright? We we had a couple agents share with me. They went on a listing appointment, and the agents before them had brought it up and how scary this was and how they didn't know if they were even gonna stay in the industry. I'm like, who tells a client all this? Right. I'm not sure if I'm gonna make it. So, again, so make sure if you've got a number one, and they I'm ready to list. I don't know anything about the change. Like, don't go crazy trying to explain or over explain. Again, build value. Make sure they understand what's going on at a high level, but but just don't go super deep if it's not necessary. Alright? Number two, I heard the six percent commission is dead or I heard I don't have to pay buyer's agents anymore. We're gonna script and role play how to how to guide them through that, how to explain that listing agents don't work for free. Most buyers will still want representation. Number three, I've spoken to a few other agents and there seems to be concern, confusion around what's happening in your industry. I love this one because this is where you just get to come through with clarity and show value and and smash all the other agents who who took a really poor approach to their listing appointment. Number four, so if you bring the buyer, I'm still only paying you the selling side commissions since buyer broker commissions went away. Again, we're gonna role play how all these works. You can explain, well, no. What you're paying me is for representing you. If I have to represent the buyer as well, I'm going to charge them something, and then they may ask you to pay it, mister and missus seller. You're not paying me. They are, but they may ask you to contribute to that payment via concession. So we're gonna talk you through these are some of the examples of the seller role plays that we'll be having throughout this week. Next slide. Alright. So here is the calendar. Alright. So right now, we're sitting there at eleven AM for motivation Monday, BBA edition. And I feel like we're going really long, but it's okay. At four PM today, we're doing the new normal, the psychology of the sale after eight seventeen. Really digging into, again, what is on people's minds, what is on consumers' minds, how do I protect my buyer from bad drivers on a listing side, how do I protect my seller from bad driver agents on the buyer's side, that is at four PM today. Seven PM today, BBA bulletproof overcoming buyer broker agreement objections. Again, some of the stuff we talked about today at a high level, we're gonna get very deep and tactical on at seven PM tonight. My buyer said the BBA role play, again, those different personas that we just showed, we're gonna get into those actual role plays at ten o'clock tonight. And everything's recorded. Everything will be in KB. All of these registration links are in knowledge base now. Yes? Yes. They are. Yes. So you can go in right now and start signing up for these. And remember, the state specific classes are still going on as well. Then Tuesday morning, we kick it off with BBA morning coffee. Those are very high level, motivational, inspirational. We're not getting into a lot of tactics at the nine AM. It's talking about what we're seeing, where we're going, how we're all winning together. Then we get into empowering your sellers, listing conversations, and role play, and a lot of talking about listing power tools there using the listing power pack, using the nine critical questions, using the active marketing plan during those seller conversations to build value and make sure that you earn that seller. Alright. Because, again, we need to show our value because if we have to negotiate a lower commission on the listing side these days, we don't just get to take it out of the buyer side. Right? We don't just get to take it out of the BAC side anymore. So we really have to be on our game. Then we do a BBA town hall. Again, these are kinda conversational, asking questions. We're watching the chat. Then a a second session of the new normal. So the same we're doing today at four PM, we're doing tomorrow at seven PM. BBA toolbox, which agreement, when and why. This is where we talk about the the one day agreement, the three month agreement. A lot of the things I I touched on earlier going really deep in that. Okay. What are the tools available to you? We're gonna talk about what we're releasing on Friday, Tuesday nights. You'll get a little preview of what our tool is gonna look like. Again, everything you need is in dot loop right now. We're really gonna hammer on that. Dot loop is an amazing tool. Dot loop is technology you already use. You can run your entire business with the agreements in Dotloop. But on Friday, we are going to an we are going to release our easy button. Then we kick off Wednesday morning, another morning coffee, eleven AM. We're doing the bulletproof overcoming objections again. Then the toolbox again at four, empowering sellers again at seven, and then a new class there communicating and marketing your value at ten. Roll to the next day, my buyer said round two, BBA communicating and marketing your value round two. We close it off ten PM Thursday with empowering your sellers. Then we do our final Friday morning nine AM coffee, and then we go into a special hour long, maybe an hour and a half long. He's on ninety minutes of Real Estate First Friday closing ceremonies where we will recap the BBA marathon. We will release our BBA portal, the easy button. We will release our BBA power tools, easy button, and some other cool announcements. And, again, all of this is being recorded and cataloged and put into knowledge base. Alright. And I think we've done it. We have done it. I think we've done it. Well, have you fed it in the hour? We did in one hour and one minute. One minute. Yep. We're slightly over. And again, we we have dedicated Spanish as well. They're going out in the daily emails. So we have two or three dedicated Spanish BBA marathon classes each week. Everything we do will be translated into Spanish. It takes a little bit of time, but we're absolutely getting that done from a content standpoint. And then additionally, one of the projects we're gonna take on in the coming weeks is to pull what we think are the best clips out of those. You know, it's gonna be like thirty five, forty hours of content. So then we're gonna go through and try to pull out those best clips and do like a condensed library. So you can always go back and watch the full thirty minute to an hour BBA marathon session. We're gonna do like a best of, where maybe that's like an hour worth of content that is the best of from the thirty hours. Because because look, there's a lot of redundancy. Right? We're teaching the same thing over and over again. We're having the same conversations over and over again. That is the point of the marathon. It's why why we as leadership have been giving up five, you know, whatever, five hours of our life every day for two weeks straight. Because while the actual content going out may only be thirty or forty minutes, we're on there ten minutes before, we're on there after, we're having conversations behind the scenes, preparing, scheduling, you know, about five hours a day of our lives has been poured into this. Our days have been starting at nine AM going to ten thirty PM because I believe it is that important that we are here riding shotgun with you through this. And so again, there's gonna be redundant content. There's gonna be the same conversation happening multiple times because we have different audiences and different levels needed every one of those. And I believe that hearing the same thing over and over again sometimes is just the way you learn. Right? And so, we know by having the classes live, you're more likely to consume it. We see that. We can put all the best recorded content out there in the world. It never gets the same level of attendance or engagement as we can do live. We can react to the chat as much as is reasonable. I try to keep one eye on the chat and, you know, one eye on the camera, one eye on the screen. You know, I only have two, but I'm trying to break them up into three. But, again, that that's what we're that's the adventure we're on, guys. So week two is upon us. We've got three more great four more great days of content capped off by a one of a kind Real Estate First Friday on Friday where we will unveil our easy buttons because we are now ready for it. I can feel confident as your CEO that because you have hand filled out that McCall enough times, like I did twenty years ago or fifteen years ago, right, with a team in the mortgage business, that you are ready to receive the easy button because you took the time to learn the long way. You took the time to learn the state forms, the dot loop way. And a lot of you are gonna stay there because that is the highest level of commitment from your customer. It is the highest level of protection for you. This this pre showing agreement is just that. It's an easy button. It's a way to get the conversation out of the way with as little, as little friction as possible, but you still wanna go to a full blown BBA as soon as possible. My goal would be, if I'm touring house one with you under a a a touring agreement or a pre showing agreement, I am going for a full six month BBA at the end of that tour because damn it, I will have shown you enough value over that hour we spent together in that house that you're gonna wanna hire me for six months. You're gonna see no other path to reaching your dream of homeownership than to hiring me. And, again, maybe in your state, it's only three months, four month. Maybe in my state, it's only three months. I don't know. I'm not a state broker, but I'm gonna get as much commitment from you as I can when we leave that house together. So make it a great gay day, guys. We'll see you at four o'clock today if you are joining us for the BBA marathon. If you haven't caught one yet, please do. It's very important that you participate in this. Check the check the knowledge base. Find your state specific classes. If you have not taken those yet, take them. Make it a great day. We'll see you at four o'clock. I'll give you some slides here of feedback we've been receiving from, the DBA marathon. So you can just kinda run through these with some music there, Dave.