How to Earn a $273,000 Referral Check w/ Mark Jensen

Want to know what to keep an eye out for so you can potentially earn yourself a six figure referral fee? Yeah, me too! Well you'll love this week's podcast.

The vast majority of real estate agents are laser focused on selling homes and condos. Which is good! Realtors should be focused and tunnel vision on the job of helping real estate buyers and sellers.

But sometimes being too tunnel visioned can cost you. Sometimes that tunnel vision is keeping you from seeing huge opportunities right under your nose. Opportunities to better serve your clients and contacts that can actually lead to a HUGE payday.

One agent in Utah spotted one such opportunity, and it led to a $273,000 referral check. This week we're talking to Mark Jensen with Colliers International, the commercial real estate broker who paid out the $273,000 referral fee to a residential Realtor. You'll hear the story of how simply staying in touch with clients helped this agent learn about the passing of a family patriarch in which a large portfolio of properties were left behind.

You'll hear how the residential Realtor did everything right in researching the right commercial broker, which ultimately led to her reaching out to Mark Jensen to help put a deal together.

You'll also hear what Realtors should be on the lookout for to potentially find your own great win-win commercial real estate referral deal.

Enjoy this highly educational episode with Mark Jensen, Executive VP of Investment Sales at Colliers International in Salt Lake City, Utah and host of the forthcoming Everybody Wins podcast.

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Transcript

spk_0:   0:00
on this episode, you're gonna hear how an agent in Utah earned a referral check for $273,000. Yeah, I don't know about you, but if I get a referral fee for 6000, 10,000, 15,000 I'm stoked. That's amazing for a referral fee. $273,000 on this week's episode of Bringing on Mark Jensen from Colliers International to talk about how this is even possible and what this agent did to earn such a big referral fee theme. Massive Agent podcast. We lead generation tips and strategies to give you more leads and sell more homes. I love to buy houses. I like to sell houses, takes brass balls. Wait a minute, believes a week. You're a week. I've had better. Oh, and I got your attention. Now here's your hose Dust in the brome. What is up? Everybody Welcome to episode 123 of the massive agent podcast. I'm your host, Dustin Brome Man, we have such a cool episode today that super educational if you've been in this business for a week or a year or 20 years, you probably still don't know a whole lot about the commercial real estate world this week was you're just gonna learn a lot of great stuff. We have Mark Jensen on the show. Mark is a friend of mine here in Salt Lake City. We actually grew up going to the same school. He grew up a couple streets away. It's crazy. We reconnected a year or so ago through instagram, not even realizing that we knew each other growing up, it was crazy, but he's is a very influential, very successful, very successful commercial real estate agent here in Utah. He's the executive vice president of investment sales. Fancy title. He's an E V P at Colliers International. He calls himself a stockbroker of physical assets. And you're going to hear why he says that? He wrote he actually was able to to give a referral fee to a residential agent here in Utah. That was 273,000 bucks. Yeah, crazy. So what did that deal looks like, right. We're gonna talk about that. You're going to hear what that deal looked like and what this agent did to find it and what they did, right to be able to to see this thing too close and everything like that. And if you are new to this to this industry, or even if you're a veteran, you're gonna learn stuff about the commercial industry, the commercial real estate world That will help you as a residential agent. And at the very least, you're gonna have your eyes open now, looking forward to other opportunities outside of just buying or selling a single family home or a condo. This is such a great episodes. I'm excited for you if you guys are brand new to the show. Welcome. My name is Dustin Brome, your host. I am the co founder of the Industry Syndicate Real Estates Podcast Network. This show is a proud founding member of the industry syndicate. When we have conferences, when those are actually a thing, I am a national speaker. As I hit my microphone here, I'm a national speaker on all things real estate marketing and podcasting. I am a weekly columnist for housing wire. I'm a realtor in Salt Lake City with the XP Realty and founder of the Massive Agent Society are one agent per market lead generation program. You can see if you're a market is available or if it's sold out over at Mark, uh, over at massive agents society dot com. Check that out and learn more about our program. There s O any time I can speak to Mark Jensen. So he's a friend of mine, you know, we speak every now and then. Um, but every time I can talk to him about business, I listen. But he has such an amazing perspective. He does deals that are hundreds of millions of dollars sometimes and, you know, selling apartment buildings with, you know, 300 units and just incredible stuff. The real estate industry ISS so so big us as well as residential agents were focused on just a small piece of it. Yes, home sales are huge, but when you bring in a retail space office, space warehouse and industrial, you talk about all these other types of real estate that are out there. There's so much more to it. And if we're only focused on one, we're missing out this agent who got the this giant referral fee for over 1/4 of a $1,000,000. She she had her eyes open. She was looking at what else was possible to serve her clients. And so you're gonna here today in this episode here in just a sec What she was able to dio because, man, once you want to hear it, you're like, Wait a minute. I can do that too. I just have to It has to be on my radar. At the very least, this and what's possible through this will be on your radar. And you could potentially earn a giant quarter of a $1,000,000 check. Maybe more, maybe less yourself. Eso So there we go. So get ready. This is a good one, guys. Real quick. Thank you so much for subscribing to the show and listening and in writing a review This is a free show. I do this for free takes. You know, I really enjoy this. I love the show but it does take time. It does take money to Dio. So your fee The only fee that I ask you pay if you listen to the show is if you find value, please share it with a colleague Share it with your office, share it with your broker share with some agent friends, share it with a Facebook group you remember of but helped to spread the word about this podcast. We appreciate it so much. And those those of you guys that have subscribed especially, are really helping to, uh, helping us grow and be seen by a bigger audience. Reviews or great as well. That also helps. Thank you so much for taking the time to do that. If you'd like to leave a review if you have not yet it would be very much appreciated. You can do it easily at massive agent podcast dot com slash review. It takes you right to the Apple Podcasts Page, where you can leave a review for the show and then make sure you subscribe So you never miss an episode and you always get notified whenever a new one comes out every Thursday morning. You don't have to remember. You're just gonna be notified. You click it and listen. Being being built, everybody wins. Let's jump into the episode with Mark Jensen from Colliers International. Prepare to have your mind blown. Prepared to be educated is really, really good stuff. So drink a red bull, have some coffee, do whatever you need to do this is good stuff. Let's go. All right. I'm here with Mark Jensen, good friend, and one of these. The smartest, brightest commercial real estate minds that I know. He's a big deal in Salt Lake City. He doesn't think he is, but he absolutely is. He's the executive vice president of investment sales for Colliers International. Mark Jensen. Welcome to the massive agent podcast, my friend. What's going on? Hey,

spk_1:   6:48
Dustin. Super honored. Humbled to be here, man. Thank you so much.

spk_0:   6:52
Absolutely, absolutely. So you you come from a completely different world. The commercial real estate world is so different, and I know that I only know the half of it. I probably don't even know the half of it. It's there, just different worlds. And we'll talk about that for sure. But you know, you and I, we both live in Salt Lake. What's crazy is we went to high school together, you know, like what we grew up on, like a street or two away. We didn't even know it at the time. Uh, crazy, crazy, small world. But we've reconnected through social media through instagram, I believe and and you know, we just started talking shop talking real estate in marketing and you shared something with me. You mentioned it kind of nonchalantly like, Oh, yeah, this happened and it really got my attention. And that's that's why people are listening to this right now, is you. You actually issued a $273,000 referral check paid out to a residential agent. Correct? Correct. Yeah, that is nuts. That's not like if I get a referral check for, like, 14,000 like I'm stoked. Hey, all 70

spk_1:   7:57
three. It all adds up right

spk_0:   7:59
now. That's true. It certainly does. It adds up quicker when it's 273,000. No, I got the impression just kind of reading between the lines that that's not it's not a super uncommon thing. And so it got me thinking like, Wait a minute, How can we as residential agents be thinking bigger and thinking outside of our little box of just selling, you know, Ah, two story with a with a garage in a backyard in a nice kitchen? How can we think beyond that and start thinking of what else is out there? Cause agents are where it's a relationship business, as is yours. We're talking to people every day and, you know, we're bound to come across opportunities, So eso real quick. 60 seconds or so. Um, who are you like, you know, how did we'll get into how you got into commercial real estate? But, like, what do you do on a daily basis as a commercial agent? Cause it's a very broad term. Um, unlike a residential agent, that's pretty obvious. You know, commercial. There's so many different things to do. So what do you do on a daily basis? And then let's get into how an agent was able to get a $273,000 referral.

spk_1:   9:07
Jack, love it. And thank you very much the opportunity you and I have talked for months now about, you know, just offering somewhere access understanding of commercial real estate space. I love to be that Catalyst band would love Teoh. You know, as we talked, you know, we're in the business of talking to people. We're in the business of helping people and nobody talks to more people in residential agents. Right? So my role just very quickly, you know, I tell people in the elevator. I'm a stockbroker of physical assets. I know what problems they're worth. I know what the You know what they're worth now, what they're worth stabilized what they're worth on the open market. You know, when they're brand new when they're old. I know all product types. You know, we've talked about. I've sold a lot of car washes, retail centres, office building, Industri buildings, land. But but mawr, I don't sell a lifestyle. I feel like a lot of residential agents, you know, do and do very, very well. I literally, you know, compete with the stock market, the bond market, every property of risk profile in a cycle of life cycle on investment cycle. And we just kind of matched those opportunities and understand values and put the right, you know, the right people in the right places and help solve all helps a lot of problems. So

spk_0:   10:14
that's awesome. And it's crazy cause did you love math growing up?

spk_1:   10:21
You know, it's interesting. I wouldn't say that I'm a huge math guy. I'm a big time creator like I love design. Um, and I certainly loved people in, you know, in any business. I think if you're in business. You're in sales like we are. You definitely have to love people. But, you know, I've talked a little bit offline. My dad actually was the CFO of one of the largest residential mortgage servicing companies in the U. S. At the time was called Mountain States Mortgage. And I mean, I want to say they had $2 billion under management is like in the nineties Did I was in my teens, So I've been around finance. So I would say most of my approach to the business was really my desired understand money and my ability to understand payments and and interest rates and, you know, sort of those sort of things. I'd same or finance side of things, you know, but obviously, and what we do math is extremely important.

spk_0:   11:09
That makes sense. It's the financial stuff. It's really interesting to you, and math is just obviously a major part of that. Cool. You're you're someone who I look up to is kind of, you know, that this financial an investment wizard because some of the deals you've told me about, or just stuff that we as residential agents don't even think of. They get stuff that happens behind the scenes. We have no idea. And we're just over here selling selling this property in this property, you know, with John and Suzie. Homemaker. And then, you know, John and Sally Smith. Um, and you guys were doing such different stuff. So how then, did a residential agent get involved with you toe where they earned a $273,000 referral referral check. How did that happen?

spk_1:   11:55
Yeah, absolutely. And you hit it spot on. I mean, when you're selling a home and you're a buyer, a plane, a seller, you're working with somebody that has the other work somewhere or have other investments. And, you know, everybody has some sort of process with commercial real estate. You may just not be asking the right questions. We may not be thinking about that, or you may not care, but, you know, in the residential world, obviously you're not gonna let your your client overpaid your underwriting price per pound, right? I mean, you're saying here's what is on a per square foot basis, I've been through all the other cops, and this sort of feels right type thing. You're that's you know, you had a tremendous amount of value for that In my world. It's all of that. I look at a building and literally I look at the building. It's great, but I I underwrite, you know, essentially the next 10 years of ownership of that building. And so we look at, you know, the age of the roof and rents coming in. And we know we talk about about Mark to market or we blow market ran story above market reds. So I mean, let me jump into. Just the easy, easy part is I was approached by residential agent who has now become my best friend, obviously probably reasons we'll get into. But I like to tell people that I collect friends for living. You bring me an opportunity, and if if it's doable, we will do it together. She approached me and it was interesting. I was actually the petting zoo incipient on the way to ST George on spring break. And this is probably between 2018. When this started Andi, she called and said, Hey, I work with a family who has a port full value of assets that there potentially looking to sell you know, Can you be here tomorrow and, you know, weaken? Tell more. We can go deeper in about someday if you want, but it's intimate Disneyland pitching a deal the next day on the phone, win the business. My deal with her for bringing me in, that it was that I was gonna pay her 25% referral across the board. And at that point, I didn't realize that the, you know, the scope of work that needed to be accomplished. I just love business. I love the fact that I was the right person for that deal. On day when we came back from our trip, we met in person. Turned out to be a 16 property portfolio. Um, you know, wow, tens of millions.

spk_0:   13:58
Damn. And so you didn't know this agent prior?

spk_1:   14:01
I did not know. And, you know, we can kind of get into that when you and I banter back and forth a little bit about you know why she found me. You know, why was the right person for the deal? We actually having to compete for the opportunity against another another another, another gentleman, A team? Andi, we were just the right person with rights job. And a lot of the reason why we were successful is that she she put in the effort in time to find the, you know, the right person That was right for that portfolio. I primarily do multi family sales in the market. I consider myself pretty creative, pretty well, network we, You know, historically, we've done anywhere from 40 to 60% of broker transactions in the Wasatch Front. So luckily, it was my, you know, sort of work previous work and preparation that met her opportunity. And that's really where the success came. I'm no different than if you're gonna go have heart surgery. You know, you wanna you want to find a heart surgeon. You don't want to call your dentist sightseeing. She really for a lot of effort into finding me. And it was, you know, from the beginning, she set it up properly, which was fantastic and very, very clever and smart on her part. A lot of residential agents might have tried to run the deal there themselves, right? And I think that that would have the value that we provided. And if we get into deal points, you'll kind of see that. You know, we we do what we do, and and I wouldn't I wouldn't dare to sell

spk_0:   15:18
man different worlds, but okay, so just through her contacts, just by networking and you know her sounds like her clients or her sphere of influence she she knew about Ah, eso what's the story behind it? Like someone passed and they had a ah portfolio of 16 properties. And they're like, Hey, help us like we need to sell these. And she's like, Okay, so let's find an agent. And luckily, you're very good at what you do. And your your reputation was there. Like you said, it compounds over time and and she sought you out as being the guy who could help her accomplish that. Is that said accurate?

spk_1:   15:55
Yeah, and I think it's even cooler than that for her and for your listeners. I mean, she had she had done some residential transactions with this family. That family, you know, knew that she was a trusted confidante in their real estate transactions. They went to her and said, You know, here's what's happening. The patriarch of the family actually passed away on. It was being passed down to essentially six cousins, which was absolutely crazy. Um, and and she knew several of family members. And they said, What should we dio? And she said, You know what? I'm gonna I'm gonna figure it out. Um, you know, I don't know how the first meetings went, but it wasn't like, Hey, let me run with this myself. Here's the listing agreement for 6%. It was like, Let me help you run a process because you trust me and I'm in the game and that was really that was great, right? And that's what ultimately led to this, that the goal is always what's best for the client. What's best for the assets and 100% she hit both of those out of the park just by saying I'm not the right person, but you know why I'm your trusted confidante adviser and I'm gonna I'm gonna crush this where you guys, because I love you and it just was really It was very thoughtful and thorough from the get go with the intention of doing what was right for the family and for the assets. I think that's so commendable and worth every penny she got it.

spk_0:   17:11
Wow, S O. C. Obviously, they did a lot, right? And I know I haven't always been like this, but, you know, in recent years, since I've grown and matured into this when you can think outside of your own needs and you and you just put yourself aside like she did and she was like, Hey, I can't do this for you. I'm not like this is not my specialty, but let me find someone who is and through research, found that you're the best and and found you that takes a certain level of professionalism, a certain level of maturity, a certain, um I call it whatever you want. Like that. That's impressive. I've you know, I think I've been able to do that to a certain degree in recent years, and every time I can think beyond myself and and think about what's best for the client and we say the ship all the time way really do like we all say, we were doing what's best for the client. But how many actually do in situations like this? Because she, rather than looking at the $16 million value of the portfolio and thinking, Oh, my God, if I sold that, you know, wow! And tried to run the whole thing. And you even alluded to that. Ah, lot of agents would try to run the show and just kind of have you tag along to advise or whatever, so that that's impressive. Like what? During the course of her seeking you out and telling you about this this deal, what else should residential agents listening, which is 99% of our audience? What should they know about what else went right during that process and maybe some things that went wrong, that it could have gone right? If you know, she just knew maybe it wasn't her, but just things to consider during the process that would help our audience.

spk_1:   18:55
Yeah, I love it. And I think, you know, there's there would be nothing wrong if if in earnest, she said, Let me take this on myself. I'll figure it out right, because we were in a hot market. I mean, I've joked last 10 years that you could sell your own property on Craig Craigslist. There's enough buyers out there. So this was this was super unique. Um, you know, so we don't need to get into too much of that. We send it, essentially sold it A to cap, which was mean, basically means if you paid all cash for it, you would get you get 2% of your money because we were marking everything to market. So we basically took the property to full renovation, took him to market rents, and we backed out that full financial, pro farmer and model time value of money to come up with Where do we think it should trade? Why, um, now I'm getting off topic like, I promise you, I wouldn't let me just

spk_0:   19:39
say no, you're good. I like it because you're you're giving specific details of what's going on and that is helpful.

spk_1:   19:46
Well, yeah, And when you sell a home and let's just say you're selling a high end home and someone comes to visit it, you know, you're not saying Hey, let's you know, let's go into the crawl space and check out the H Vac system and you know, I'm gonna show you where the plumbing goes in. I mean, you literally you're like Imagine you Christmas Eve with your family plate of cookies guitar telling stories. I mean, not get thing in your world, but, like I bought homes like you're you're selling the future, and that's what we do on the personal side is we sell the investment future, right? And so we're always We're always saying this is what the problem he is now. But you know, where can it go? The one thing I will tell you that I really appreciated about her. And this this goes for a lot of people is she said, I want to be involved one because I have the relationship with a client. But to I wanna learn. And I was like, half absolutely, That's amazing. And what I put back on her immediately was I'm gonna run the vast majority of communication to you because there's six decision makers and I don't know those decision makers. So let me go do what I do and you control that part of it. And immediately I made her accountable on part of the team, which, which I think, you know, obviously gave her a sense of value. And I valued her relationship, you know, enoughto want to make sure that she was involved in the decision making process and kind of how we move forward. There wasn't a lot that she did wrong. Um, it was a really challenging deal. I mean, I've joked many times it was like the Sistine Chapel, because the short story is we took. We ended up doing close to 50 tours. We received 35 offers. Some people wanted one building. Some people wanted four. Some people, you know, we had a couple of groups, one of the whole thing. We basically did a call for offers. Multiple times brought, you know, brought all the offers to retail. And we got one group to buy the whole portfolio at full retail value. I mean, it was like, Boom, home run. She gets her check. Um, that's probably more detailed and what you want to know. But it was It was awesome, right? Imagine she had done that herself. She would have tried to package it, put it on the MLS. And then what you end up doing, though, and this is really important. And I think one thing that she realized really clearly up front, as you pull somebody that an expert in and you create leverage for your client. You have the power you hit. Send on an email blast or put something on the MLS and you don't have rent rolls and Pino goals and financials, and you haven't talked a lender's. You'd understand that. You know, the sale cop market and who the buyers in the market. You all of a sudden become reactionary to the market, and that puts you immediately on the defense. And you don't want to sell something on the defense. You want to know what you have. I know what it's worth and why. And in that, you know, then you hand it to your running back and you score the touchdown. So I think she just like you, said it showed an incredible amount of maturity. And it's all taking this time to take ourselves out of our own heads. And, uh, you know, could she done it herself? Yes. Could she have just passed up to me without a referral? Yes. Um, but you know, that's not the point. Point is, how do we get you guys in front of people asking the right questions, delivering enough value that, you know, I didn't question paying her the 25%. I mean, if anything, it was like, Here's your money and thank you. Can we do it again? You know? Yes, exactly. Super super win win for everybody was fantastic and she's amazing and deserves deserves every penny that she got.

spk_0:   23:01
I'm impressed that she was able to stay in her lane, so to speak, because I know what it's like when you get out of your lane, which I've I've done before. And I've learned the hard way why there's a lane to begin with and why why Staying in your lane is is a thing. Ah, you know, like I've sold like I'm a residential agent, but I've sold multi units. I sold duplexes. I sold four plex and you know, even even with those like you're adding more levels of consideration that don't exist with a single family home because you get into rent rolls, you get into Kappa rate. You get into, you know, different financing. You get into different considerations that the buyer has all of that. And the time that I really noticed how important it was to stay in my lane was when I sold vacant land. I sold a lot up in Summit Park up near Park City. And, um, this was it was a short sale. Actually, she's Yeah, it was a short sale which most agents listening don't even know what a short sale is. Because they haven't existed

spk_1:   24:02
is they're missing out, But we might get their

spk_0:   24:04
way. Might get there. It was just, you know, bad and good. It. Anyways, it was a stay this lot. And I was like, It's it's land. This has got to be easier. Well, once I started getting calls from buyers, I'm like, Ah, I What do you mean, utilities? Ah, sewage. Is it stubbed to the stubbed toe? What, Like I started asking questions, I'm like, What do you mean? So I had to learn pretty quickly, and I'm like, Wow, there's This is a different world. And so that taught me the value of staying in my lane. And I tried to do it whenever possible. Eso I respect it when I see it too. That's cool. Um, is that the first time that you've had a residential agent refer you a deal?

spk_1:   24:45
No, not at all. In fact, you know, I think the Utah border Realtors has done a fantastic job. I think it's three years running. I've been on an annual panel, Um, where they have commercial brokers come in and residential brokers can come and ask questions. And I'm always blown away at the talent in that room. I'm blown away. It just how nice They're dressed in their nice cars and out well spoken everyone is I'm just like this. Incredible, you know. But it is. It is two different worlds kind of colliding. And And we were I was originally approached by, you know, one of the one of the principles or whatever you call him on the board directors of the Utah Board of Realtors because they were having they were having legality issues with resin mercial agents. Right? So you're a resident crazy mercial your residential agent. You go to a commercial deal, but maybe didn't dot all the i's and cross all the teas and and they were getting some blowback. Yeah, and under certain situations. And so, you know, they just brought us into to strip, you know, bridge that gap, our bridge, the two worlds and have an open conversation. And honestly, some of my favorite relationships of K have come from that only because it you know, there's no other forum that's been created where I get to see what the residential markets doing, the questions that they have, the the tenants, the clients that they're representing and why and what they're doing. And, you know, and I'm not in it for the fee. I mean, you go back, Teoh, you know, staying in your lane. The reason you doubt here ladies were curious, right? Like we're entrepreneurs. So I mean, I would never tell somebody like a stay in your lane because I recognize the value that I didn't stay in my lane for 16 years. I'm still not even sure what my lane is, but you gain enough experienced where If you do take on some land now, you know, right now, you could do it. You've got a game that crude somewhere. I think it's fair value, so much value in doing a couple of deals with somebody. Um, and here's let me back up to if you have time and you have the relationship and your open and honest about it like, Hey, I'm new, but I'm gonna figure this thing out. Aziz, Long as it doesn't negatively impact the, you know, owners ability to execute. I think that's a wonderful thing. I think if there's one thing that I bring to my clients of my transactions is in. How I've built a reputation is I'm totally transparent from from the get go. And I think that that is because, you know, if all things were equal, we had plenty of time. Anybody can do anything. But if if execute security of execution is important, you do want to truly learn outside of your lane. I mean, you and I collaborate all the time. We're collaborating right now and you collaborate with hundreds of people. You know, there's collaborations. Amazed, I think, just find the right people that share the same mindset and just be transparent, those people as well, like, Hey, I've got this deal. But I want to make sure that we know where utilities are and do we need to get a survey and we need to get a phase one and you know, just those types of things. If you don't know, find something that does team up with them and I mean amazing things will come from that I'm a true believer in the abundance mindset. And every time I mean, there's just so much business out there. The people that say there's not enough business are so focused on their competition. Yeah, they're not focused on the market and what they can accomplish themselves, and there's always stuff to do in our business. That's the best part about real estate in general.

spk_0:   27:58
Absolutely. I want everyone listening to start to get some ideas of what they can and should be looking for when they're out there in the world talking with clients and learning about their needs. Because if agents Air Onley focused on selling or representing a buyer on A on a single family home, they're missing out on all you know, the rest of real estate, which is this monstrous industry that you know there's so many different facets of it. So some of those other deals that you've done or that you've had referred to you by residential agents what what those deals look like, whether some of those types of deals that agents can kind of have on their radar now, or at least be conscious of as their that they're getting out there talking to people,

spk_1:   28:45
Absolutely, and, you know, talked about this a lot in the past, But no, there's no training and real estate. When you goto right, there's there's definitely no training and commercial real estate, you know, like when I went, got my license, it was all about how to sell a home no one ever talked about, you know, leasing or investment sales or capital markets or any of that stuff. And so, um, the you know, the first thing I would I would want to leave your listeners with. And this is something that you guys do anyway or you don't get paid any money, but you get paid the proportionate amount of money to the value that you provide. And so I just you just consistently think through you know how to have I provide value or create value mean if you represent, a client will get in the personal side. I mean to sidetrack. But if you go to find a house since it's their asking $4000 you offer him $200,000 you accept it. I mean, you essentially just created $200,000 worth of wealth, right and so that you're creating that kind of value, and you should you deserve to get a proportionate share, the value that you provide on the commercial side. Think about this. So I put I put my clients into one of two categories. One is capital preservation and one is capital creation. Most of my clients or capital creation and creation strategies air by a piece of property. Put a four plex on it, put bodies in it, you know, stabilized but in cell and you've created that value. Preservation is the by that comes in and buys that four plex because it's all the hard work's been done, and you're just looking for a long term cash flow. What residential agents converge. You, too, create valuer or, you know, or add value is just knowing the clientele and their sphere of influence. What they do, a lot of the stuff that comes to us is Hey, you know, I work out of the gym with this guy and he's the CEO of this company, and they're growing really fast, you know, And there in 10,000 feet. But they may need more. We jump on a phone call with them turns out that they need 40,000 feet and we find a building for them. We put them in there, you know, and get a huge fee. And whoever teed up that relationship makes a lot of money. A lot of times its corporate right. It's downsizing its growth. Any time there's trends or movement, you make money. You know, we're lose money, you know, in commercial real estate s o b. Be conscious of who you're selling home. Teoh. If you sell a home toe something that just moved into the market, they may have no idea what's going on with their company. But guess what? You just found a company that is actually moving people into the market, and that's movement, right? There's an opportunity there. If you find out what company it is, connect with a commercial broker and say, Hey, this company's growing Even just a little nugget like that can move the needle in first rule of steak as you call, and maybe they don't have a broker. Or maybe they need more space. And you know, there's just always opportunities just really become just about who you're doing business with already in the sphere of influence you have and And what can you do? You can ask what their commercial real estate needs are. And and from there you could do exactly what this residential e ended with me. Find the right person and, you know, you just you just drop something else in your pipeline that you didn't have access to before. And it's all gonna you know, like we said in the beginning, it all adds up a prey. So

spk_0:   31:41
absolutely, uh So I know in my career before I've had I've had clients that have reached out that are like, Hey, you know, I'm thinking about opening a restaurant or a salon or I you know, I need an office space. I'm thinking about starting a company, and they're like, OK, I need real estate and you're the only agent they know. Um, then then you is a residential agent. You're like, Okay, now I need to find a commercial one. Could you could you kind of educate us a little bit on the differences in the different segments of the commercial world and, um, and maybe beyond that, the first steps that an agent should make if they are, If they get approached by a client or someone who's like, Hey, I want to start this business. I want to start a salon. I want to do this. What should they do first?

spk_1:   32:28
Okay, so this is where I'm gonna get totally inhuman for one moment. You'll understand why, but this took me years to understand. But if you have a vacant building and you know, let's just say you're an agent, you're aware of a vacant space and you have somebody comes to you and says, I want to open up a salon, but they only want to sign a three months, three month lease, right? So let's just say the rents 2500 month for three months. That's $7500 you charge 6%. You just made 450 bucks, you know, like, was that worth all that effort? So a lot of it is just understanding kind of those thresholds and doing the math. And so here Here we go. Here's how you get paid in the commercial real estate space. If you have a tenant and you have a space and you put them in there, you typically get paid 3 to 6% of the 1st 5 years of the lease. If you do a two year lease and I get paid to two years, so you basically calculate that full payment adds that makes sense. If they're paying 5000 month times 12 times five is 300 grand. So five year lease at five grand a month, it's 6% pays out $18,000. That took me a long time to understand. I don't even know why. But on the investment sale side, it's a little bit more competitive than that. My my average fee, because we do, you know, a couple of 1,000,000 a year is about 40 pips, which, which sounds incredibly low. But it's a really competitive market, Um, and so understanding your personal thresholds on what it what it's worth. Pricing wise can also help, because if you're if you're gonna refer somebody a deal, it's only gonna make them for $50 ask for a referral fee. I mean, no one's gonna pick up that football right, like it's just going to sit there. And so there are clients that you may want to, you know, you may. You may want to for the relationship. Put in that extra time knowing that maybe wouldn't cross the threshold to get somebody on the commercial side excited. And there's Craigslist and KSL in our market and there's Loop Net, and you can call me for sure any time for free. And I 100% give you all the resources you need. Our firm tracks, every vacancy, every occupancy in the market, across all product types. Retail, office, industrial, um, etcetera. I probably do multi family, but we'll talk through some of the some of these sectors that we talked about. But as it gets to a higher threshold, you're like, Wow, they know they're in 10,000 feet where he's a dentist must open up to more locations. I mean, things that start to have some scale to him. There's There's definitely a lot of value that you bring to the table, and that's where that's where you get paid. Is when you bring that value on. Do you want to jump into kind of different market sectors really fast?

spk_0:   34:55
Yeah, yeah, And this is something, especially when I first got my license just over nine years ago, that I literally thought that all commercial real estate was the same. I didn't understand There's retail, There's office, there's industrial. There's multi family, probably stuff I'm missing. But for like, how would you explain? The difference is just so people can kind of, like, you know, educate themselves on the space a little more.

spk_1:   35:21
Yeah, 100%. So, you know, industrial is four walls and a roof, Doc, I doors, you know, ground high doors, its power. So those are your your companies that you know your h back cos you Amazon's things of that nature distribution, manufacturing space, stuff like that Offices. You know, you guys have all been in your office. Each category would sort of be dissected into a B and C. Even a office building is like downtown Salt lake and new tower or a C would like your office. Yes, yes, CC would be something more suburban and older, low ceiling stuff like that. And then you've got multi family apartments, which is primarily what I do. I typically focus on 12 units and above. Our average deal is probably more like 75 units and above we don't do four plexus duplexes, five flexes, and we can talk about that. But the reality is you actually get more juice by putting those on the MLS because a lot of people aren't underwriting financial returns. I'll tell you this, if you own a duplex for four plex, your return on equity is way lower than we can get you in the commercial space. So if you have questions about that, please connect with me, um, the and then retail. Is this your retail? It typically gets, you know, split into. Are you grocery anchored? Are you big box are used, you know, um, are you mall stuff like that? And then we kind of have other, which is gonna be in which is gonna be storage units and car washes and laundromats and stuff like that. We got retail office. Industrial land obviously covers all the market sectors, but typically you'll have a commercial broker that specializes in each of those. If you called me and said, Hey, Mark, we need 200,000 feet of industrial out by the airport. I mean, I'll, I'll give you three names that would go kick so much, but that you wouldn't believe because there they own that that market they know the players. They know that vacancies, they know when leases rolled and who's who's developing is not developing. You know all the existing inventory and track it. That's the other thing That's probably important to say is the reason I tell residential agents don't don't try to run with a You know something of scale because you're gonna be competing with guys that are just so much further ahead of any of us than we are, right? I mean, industrial guys that don't come to multi family and try to represent a buyer because, like you, they just they just know to call me and you know, it gets done type thing, same thing, and in the commercial world, as we really do, you stay in our lanes. But those air of the major food groups and then read in everything you've got sub sectors, right, like retail has drive through and fast food and and, uh, neighborhood centers and stuff like that. So

spk_0:   37:52
I love it. Um, so you mentioned offhandedly. But I want I want to come back to it because I think it's interesting it actually sets me up for another question that came to mind you mentioned that. You know, if you if you are investing in a four plex or something, you can actually get much better returns in the commercial world. Um, what does that look like? And then I'm curious. Like if if someone wanted to hire you being that you focus on investments, you're a stockbroker of of physical assets. I love that description, by the way, because I like I get it, You know? I like. Okay, Cool. That's what he does. Um, if someone's like, Hey, I want to I want to get an investment. I want I want to get that better return in the commercial world. Like, what kind of minimum investment are we talking about? Like if someone who had you answer that however you'd like. But I'm curious, like, you know, what kind of level financially do you need to be at in order for that? Even make sense?

spk_1:   38:51
Yeah. Awesome question. And believe me, I would love Donna four plex. I would love Don't a duplex. A lot of that discussion to is just returned on energy. I mean, if you're a doctor and you investment four plex. Congratulations. You're now a doctor. and you own a four plucks, right? Like you have to go manage it and collect rents and things like that. So a lot of what we what we do as wealth managers in the real estate spaces, we look it who you are, where you are, how much capital you have now what are the goals? And then, really, what kind of time and resource is do you personal? They have. You and I have talked a couple times off line on some of the home runs that we've done, and a lot of it came down to hit. If you went and got a job outside of this storage facility owner, his car watches you own and you paid yourself $45,000 a year. Your actual return inequities like 2%. So we should sell and go put you into something that's gonna make you 6%. Then you get all your time back. We do a lot of those types of return on equity returned on energy discussions. But the beauty is I mean, you know, a lot of people by a duplex or a four plex based on appreciation and what they can afford right? I mean, it's also anything under five minutes. To get residential financing, you can borrow something inviting with less than 25% down. Typically in the commercial real estate space, you really need to have 25% down, if not more now in the Cove it days. But we can talk through that on a subsequent podcast of People Want to want to know what's changed. But you know, 25% of a $1,000,000 to $50,000. That's probably where you want to be. Here's what's crazy and awesome about life in general. And where we go where we're going in the in the fintech world, um, is all of a sudden you can put $10,000 down and buy into an office building in downtown New York City. You know, there's so many crowdfunding sites and opportunities to be a part of something bigger and to me that it's so freaking fun, man. And that's absolutely future. Hey, sweetie, you know, I just got this bonus. It's 80 grand, you know? Should we send it over to our stockbroker? Do you want to put it the mattress we call marks, We buy a four plex. Or should we go on Kadre dot com and invest in a brand new office building in downtown Chicago? You know, you can actually put those things side by side and compare those I mean, the future of investing crazy because, you know, you just have everything's that. Your few finger tips and information is so, you know, so very valid and accessible right now. So I mean, I think you could start with his little is $1000. I mean, Grand Cardone and I think we'll take this Little is $1000 you know, in his thesis is workforce housing and be multi family across the U. S. Because you can't build those units anymore. Um, and we obviously housing is a major underserved market in the US You can't build enough housing to meet the demands. So you know, there's this cool technology that's gonna allow people to do that, and then a lot of times locally, we just have people call and they say, Hey, I've got 100 grand. Call me if somebody else has 100 grand, you know? And we end up putting together like these little ninja you know groups because the reality is if you go by a four plex and you fully lever issue put 10% down and borrowed 90% you know, on 200 grand, you're putting $20,000 down your burning $180,000 in how much you actually netting? And is it worth your time to go by that? Versus could you put that $20,000 into something that's gonna growth and pay you a knack? Chua will calculated return of six or seven or eight or 10% monthly quarterly, whatever. And then, you know, later we could get into 10 31 exchanges, calm, pounding interests, um, compound in your web wealth and and sort of growing that that little ninja portfolio as well. But I think nowadays it's way cooler than what you and I had 10 years ago.

spk_0:   42:22
It just makes it so much more accessible to more people. And, uh, you know, I think I've talked about it on this show before, but a while ago on market, I believe I told you at one point a couple of years ago, I was involved in this. Ah, this start up, um called called nest platform. And it was trying to make trying to token eyes through Blockchain, um, investment property and make investment property accessible to someone who had even 500 bucks. You know where they could buy a fraction of, ah, building that was cash flowing like an apartment building in Manhattan or something through through Blockchain and through through token ization. And you mentioned Kadre, which I believe they're backed by, like Goldman Sachs and Black Rock and all these guys, um, there's so many cool things happening. So I'm glad you mentioned that I wasn't even considering the new these new ways that make investing more accessible for stuff like that. Do you have to be an uncredited investor? And and could you briefly just let everyone know what what it means to be an accredited investor?

spk_1:   43:29
Yeah, So you know what's interesting is actually read a block post like four years ago or three years ago called I Am Blockchain because through the the main thing about Blockchain is knowing what you're buying right and having access to information the token ization, you know, forgive the term it's like corn to being a real estate because that is absolutely the future. They've done a couple of buildings, and what that does is that's crowdfunding meets liquidity, right? Like, yeah, it's like buying a pot of gold or, you know, a bar of gold. It's like you can walk that down to State Street and get market value for that gold. If you all of a sudden have, you know, 55 tokens tied to the World Trade Center in New York, Um, and you condone That's probably bad idea, because I've been in New York since the, uh, they have a new World Trade Center building there yet I don't know. Let's work.

spk_0:   44:21
They do one World trade Center. It's the tallest building in New York.

spk_1:   44:24
Yeah, that's my thought. But I'm gonna say Chrysler building, Uh, let's just say you you put $180,000 in the Chrysler Building. You're getting monthly cash flow from that. But all of a sudden, you know you want to go by this four plex with with Mark Wright. Um, you know, I just told you not to do that. We're gonna go do that anyway, because I've got a different strategy, but, uh, all of a sudden, you can just go online and click cell and somebody picks up your tokens and you get wired the money. I mean that the liquidity thing is really what the totalization solves. But giving the power of the people like a Robin Hood in commercial real estate is amazing because it actually will drive value to really state of. And if you, if you're looking for one person that has, you know, we had an apartment building here in Utah sell for $144 million last year's biggest single sale are markets. Ever seen one dude, but that one? Didn't your heart have come back? But if all of a sudden you can then sell that thing to 2800 people or to 20,000 people, you can actually get more money for the property because people with less money or willing to take less yield, that's and there's more people like that. That's where, like don't buy a duplex known by four plex. And my world comes in because there's so many people that can afford to do that, that, you know, it's sort of supply and demand creates a lower lower deal but the toe organization thing is absolutely incredible. And I don't remember what your question was. Now

spk_0:   45:42
you answered it. I think e I'm just so enamored by your response that I'm like, Oh, this is awesome. You're right. Like so if you boil it down to, um Teoh, I want to say cause and effect. Uh um demand, Um my God, but supplying demands. Thank you. Yeah. Yeah. Wow. Guys, this will be the final episode of the masturbation way we're done here. Supply and demand. You're right. The if you make it so much more accessible. And what Blockchain does it it makes it efficient. Makes it so much faster, which means cheaper. And there's fewer people involved, which means cheaper and faster, like all of that is good and makes demand go up. So, you know, if you have an apartment building now, you've You've increased the demand by let's randomly say 30%. Is it worth more? Yeah. Yeah, I know. I thought of that. That's cool.

spk_1:   46:40
The transparent. I mean, I've built my career on transparency. Right. And Blockchain is me transparency. Like you know who bought it, how long they owned it. It It's going to start pulling in. You know how much money was spent on what and when. And and those of me allow you to immediately up close, you know, least underwrite those faster than you mean right now. Like you said, real estate is so inefficient. Look at my look at my average transaction. From from contract to close is typically 91 days. Let's just say for from listing to close its probably 90 mean minimum 91. Let's just say it's 100 days, but from from listing the clothes right now, I'm averaging 91 days because I track everything is I'm a nerd. But in that time frame, you typically have a full inspection. You've sent an age fat guy to look at the H back separately. You send a plumber and with the plumbing separately, have any electoral questions? Use an electrician's and you get a roof for um, you know, you have your property management company, walk the units and you look at kitchens and baths and you're calculating all these, you know, ages and time frames. And how long are things gonna go? If you could just remove that and all of a sudden you goto this token ization platform and it gives you all of that. Not only that, it calculates a market underwriting that's already set, you know, in a region or something. I mean, it just could be so smooth, so sexy, so transparent. And, yes, that would add a tremendous amount of value because it would bring just so many other, some anymore investors to that single asset. And you're seeing you saw some of that last 10 years in syndication, right? Like if I go put a building under contract, then I go get 50 buddies of mine to invest with me. It's kind of a mini Blockchain relationships. They trust me, God, Yadi, yada. But true, Blockchain will wipe through that. But you did have a question that just ran through my mind about accredited investors so illegally to raise.

spk_0:   48:24
I forgot about that. So thank

spk_1:   48:25
you for bringing that. I wanted to bring that up specifically because it is very important that people understand it, and I'm not the right person to do it. So talk to an attorney. That's my disclaimer. But in theory, you can Now, you know there's two ways to raise money and I forget the numbers and the letters behind a But one of them is an accredited investor. The other is unaccredited. But, you know, the unaccredited is a pretty pretty heavy lift to get approved by the because you're essentially selling securities, right? Um, se, you have to go, uh, get it. You have to put your papers together. Your investment package. You have to get it approved by the SEC. Um, and if you're if you do it the other way, it's under units. The accredited version. You just have to make $200,000 a year plus and have done that for several years or have a net worth over a $1,000,000. Um, and you can find some of those links online and stuff like that. You'll see a lot of a lot of growth in both of those categories. Me personally. I mean, I've joked that one of the thought process I've had recently is Hey, I know values better. Anybody because every deal that we sell, you know, we have 10 to 20 offers. We know how to create the market. Really, Really Well, um, one of these days, I'm gonna goto goto an owner and say, I want to create the market. But I also want to crowd fund at the same time, and that is a couple of things one and provides surety of execution of a seller. But to it, actually, let's Mark Jensen with the power to the people, right, Because most investors don't have access to the markets that we deal in because you gotta move quickly. You've got to be, you know, willing to go hard on earnest money. Day one. I mean, there's just so much. There's just a lot of competition and some great guys that do this for a living, you know, like I wouldn't want to go by apartment buildings because I'm a broker and I know the guys. They're buying these things, how long they've been doing it, how big their portfolios are, how risk averse or are you know, crazy. They are sometimes, and I just wouldn't want to compete with that. But imagine if I could simultaneously go the markets and say, Hey, we're gonna go to market on this deal. You know, our our debt is X and our equity raises. Why? Who wants to roll the dice with me and actually on a cool ass. I mean, that's my next move is starting to syndicate. But I want to do it in such amore broad format. And that's where crowdfunding to me is just absolutely amazing in the future.

spk_0:   50:42
Yeah, I could, because you're able to do increase demand for the same property. I think that is. That's incredible. Um, so last question to wrap it up cause I was just thinking as you were talking about Blockchain and you were talking about it like you were excited about it. Ah, lot of real estate agents, even though we haven't talked a lot about Blockchain recently because Bitcoin which I know Bitcoin is just the tip of the iceberg of of the technology that's underlying Bitcoin. Ah, but you know, we haven't talked about it a lot because Bitcoins been in been in the garbage like it's ran up to almost 20,000 was a few years ago and then it it it's I don't even know where it is today, 8000. Ah, but for a while there, agents were really starting to freak out, and there was there was a lot of content being put out there about Blockchain? Will it put agents out of business in your in the commercial world? I could see you guys having even mawr exposure to it sooner than we do on the residential side. But you don't sound concerned about it. Are you concerned that it might jeopardize your your profession or your career? Or are you excited? Do you see it is a tool.

spk_1:   51:54
Do that. If you're not growing, you're dying. I love it. Get rid of me. I mean, you and I talked. Find how residential agents hate calling commercial agents get rid of us because then I'm just gonna be on the, you know, I'm just gonna be on the other side where we're, you know, we're buying or buying deals, and it just becomes a stock market. But here, here is why I love commercial real estate. Every property has a life cycle. I mean, have you seen anybody that's lived in the same house for 200 years? Answer is probably, yes, I've been to France. However, for the most part, properties live and die. There is a life cycle, and you can always buy into that. Whereas a stock market stock mayor not right. I mean, you're buying a business. Are you really buying the assets? Are you buying the intellectual property? You buying what the strategy is? Are you buying their market? You know, betting for Surrealist. If you go by a building on a corner, you know that building's gonna get older and older and older and you know it. Like, think of a least valuation, like it has a 10 yearly. He is the very first day you sign that least it has more value than it will ever have ever again. So you're always underwriting the death of something. And that's where the opportunity lies. Some so Bitcoins at 7007. 41. But I love Bitcoin. I love the concept. I love what's happening in our space. And if you think about it, if you are afraid of getting cut out of this industry like commercial real estate, which, by the way, I'm not because you'll always add value. Regardless, there's always gonna be people asking questions, and you're always gonna need a human element to just about anything. People are emotional. They don't want to make a decision by themselves. Um, there's reasons you have friends and family and expertise. And and I'm just consciousness. Um, you know, all that fun stuff. So I have no concerns about that. It actually excites me that everyone's gonna have to pivot and grow. Um, now I'm off topic again, but I'll just say it. I'm excited. I will say this to If you're worried about that, where we are encoded 19 you know you'll be worried. But the flip side of that is there's so much opportunity and reason to be excited. But the best quote I heard this week on a webinar because you and I are both webinar it out, I'm sure at this point. But it said totally webinar doubt. Yeah, well, you market is when the market is bad, it's bad. When the market is really bad, it's good. And so I think these seismic shifts in some of these slow moving shifts like Blockchain I I just think they're so fun. I mean, if you're on top of your game, you're looking for opportunities and looking for ways to pivot. Um, you know, if you don't, you're gonna die. And you know, that's just that's just how things go. You know,

spk_0:   54:22
I completely agree. I'm excited for it because I sure if you are just in the middle, you don't really add anything special at all. You're just very middle of the road. You're easily replaceable. So yet you you might not be necessary anymore. But those who are actually providing unique value and really going above and beyond the true professionals they're gonna they're gonna thrive because I see Blockchain as as helping make it easier and cheaper to sell homes and, uh, sell property. Bitcoin is not going, but Blockchain is going to just make it like that's the mechanism for for doing the transaction, you still need someone to know about the property. You still need someone to figure out if that property makes sense for the buyer and now it's just to buy it to acquire it is now easier and cheaper. That's a good thing for agents CRE and residential.

spk_1:   55:19
Absolutely. But in risk potential, I mean, I don't care how many clicks it takes to buy a house like you're gonna physically get to see that your there's gonna be commercially there's gonna be companies moving people. There's gonna be people have questions about what streets to live on or not to live on or I wanna build or not build. I mean, people in residential just have so much opportunity. Um And honestly, like, you see these things like, you know, homey and some of these groups that are trying to drive that down, that only works in a great market. And the beauty of where we are right now is now is I mean, we talk about this, you today. It's like the cove it crisis has basically reached that everybody myself included. I've been in business for 16 years. You think what worked the last 10 years is gonna work the next, and absolutely not. And I think residential agents have such a fantastic opportunity. Teoh, you know, put a big hug around their clients and friends and just create awesome awesome opportunities and lifestyle shifts. And, you know, we've seen this this crisis and we saw on nine and 10 which sounds like most your listeners weren't with me struggling to those years. You lucky dogs you. But when you know when things were bad, it's interesting to see certain markets do really bad in certain markets, actually improve and what's crazy about this bill around As you guys have seen it, we have winners and losers, and it's just gonna be it's just gonna create commotion. And who makes money and commotion brokers, baby. So such a great opportunity right now for all of your listeners. I

spk_0:   56:46
love it. Dude, thank you for bringing context and thank you for, you know, educating us a little bit on on what's going on on the commercial side. I learned a bunch today, and, you know, I'm excited at some point. Mark we're gonna be talking about, um You putting some of my money to work and in making that happen because ah, you're obviously very, very good at what you dio. And I appreciate you taking the time to share with us today. Um, not quite done yet. Not off the hook. We do have our rapid fire questions of the week. You guessed? Let's do it so either or questions. Just pick one of the other. You don't need to elaborate. If you don't want Teoh, we could just blow right through him. And then at the end, we'll let you tell everybody how they confined you and connect with you and learn more about you. Let's start with Facebook or Instagram Insta baby Instagram are linked in Lincoln Books or podcasts, books, podcasts or audiobooks.

spk_1:   57:45
I'd say your podcast and some some audio

spk_0:   57:51
Well played my friend like it's too bad that this is the final episode of the massive agent podcast because I could not remember the supply word in supply and demand. But that's another story.

spk_1:   58:00
I think you're a good man.

spk_0:   58:02
I think I rebounded

spk_1:   58:03
it. You re about agree?

spk_0:   58:05
Yeah. I'm not gonna edit it, though. I'm No, no, don't do it. IPhone or Android?

spk_1:   58:11
I recently switched iPhone because I couldn't face time my daughters. So I'm an iPhone guy and I can't I can't go back. I loved it. So it's iPhone.

spk_0:   58:22
Love it, Alexa or Google home. Alexa burgers or pizza?

spk_1:   58:28
I'm gonna go burgers.

spk_0:   58:29
New Yorker L A.

spk_1:   58:31
I got married. New York. I'm gonna go New York.

spk_0:   58:34
I love New York. So itching to go back there. I don't know about you,

spk_1:   58:37
but energy is epic. Although I do love l A. I love the beach, but yeah, I, uh New York has just like this crazy energy. Yes, Crazy

spk_0:   58:46
Central Park's the most amazing place ever.

spk_1:   58:49
Uh, it's bizarre. You couldn't. Yeah, it's crazy guessing.

spk_0:   58:54
Ah, NFL or N b A

spk_1:   58:59
Who? My dad was the commissioner of his fantasy league since 1980. Uh, so I'm gonna go NFL.

spk_0:   59:08
That's a good reason to go NFL. Yeah, baseball or football? Super Bowl College or pro

spk_1:   59:17
Big Santa College. Huge

spk_0:   59:20
mountains or beach.

spk_1:   59:22
I'm gonna go beach even though you know we live in the mountains, I'll

spk_0:   59:26
say each taking it for granted, my friend. These mountains I don't know about you, but I still like every every afternoon when the sun setting and it does that help in glow thing where all turns purple on the mountain. I still I'll just stop what I'm doing and just stare like it. We live in such a beautiful spot, um, podcasting or vlogging.

spk_1:   59:48
So I'm gonna say I'm amazed in and enjoying some blog's lately. I think it adds incredible visual context to it. But do podcasting is just so easy to go for a walk. Oh, for run and just get some incredible information, right? So I love I'd say both, but I say it's been more time in the podcast space.

spk_0:   1:0:10
Nice. I agree. Incredible information out there and this show. So that's a given YouTube or Facebook live.

spk_1:   1:0:20
It's a YouTube for me,

spk_0:   1:0:23
uber or lift.

spk_1:   1:0:25
I've been in Uber Guy salsa uber

spk_0:   1:0:28
Gary V or Grant Cardone.

spk_1:   1:0:31
Love Me some Gary V. I think that guy truly loves and cares for people like I just get a sense from him. And I love salsa Gary V, although Grand Cardone on his buying apartments. So I do have to kind of like that guy. That is true.

spk_0:   1:0:45
That's true. Um, although the other day someone texted me there like you. Grant Cardone is bankrupt like already. Like this market just barely turned like a second ago. Is he really that over? Lever? It is what I thought, but it was just some bullshit

spk_1:   1:0:59
marketing. He's it's gonna have to crowd Fund is Jet. Outside of that, he'll be fine.

spk_0:   1:1:04
Well, I don't even think he did like he did this weird Instagram live where he's like I'm bankrupt. Everything's going back to the banks. You can get it cheap. It was so weird. Oh, really? But it was just like this joke, like I don't I don't understand. I don't know. He's a weird freakin dude. Anyways, what's the most impactful book you've read? Or listen,

spk_1:   1:1:25
I'm yeah, 100%. I mean, this is my third time around, but obviously heading into a cove in crisis and trying to figure out what opportunities that's going to create for myself and my clients I've been reading the obstacle is the way again, which I absolutely love That book.

spk_0:   1:1:39
Oh, Um, Yep. Um, I've heard that inaudible to our mutual friend, Brody Saunders from Ideal Estate. He he recommended that Eric know. Jesus. What's the guys? Name the

spk_1:   1:1:52
author, Ben Horowitz. Because I want to make sure that everybody reads it right now.

spk_0:   1:1:56
Ben Horowitz, right? I think so. That sounds

spk_1:   1:1:59
right. Oh, this is all supposedly Brian Holiday. Is that wrong?

spk_0:   1:2:07
Okay, I'm I'm thinking of the book that has its black with orange letters.

spk_1:   1:2:12
Yeah. This is the timeless art of turning trials and a tramp Ryan holiday.

spk_0:   1:2:17
Okay, okay. Yeah. Yeah. So I have that one too. I think Brody told me about that one. Also I'm thinking of Where is it? I'm scrolling my audible. It is a Ben Horowitz book, and it's awesome. Oh, the hard thing about hard things

spk_1:   1:2:33
that's collided. Read that one. So I'll put that one on my next.

spk_0:   1:2:36
That is a really, really good book by Ben Horowitz, but ah, yes. The obstacle is the way perfect for today's world. Mark. If anyone wants to learn more about you or follow what you're doing or here you know more of your wisdom, where can they find you?

spk_1:   1:2:52
Yeah, awesome. So I mean, I'm very active or I try to be. Anyway, when I'm not doing I'm not in The business is just talked about. Linked in is Mark Jensen. Siri Instagram is Mark Jensen, Siri. I also am attempting to revamp and hit harder. My blogging mark Jensen Siri dot com Nice

spk_0:   1:3:13
and ah, maybe a little hint at, ah, little podcast. Maybe that Ah,

spk_1:   1:3:20
I Dustin is the man. I mean, I just want t o your listeners one if you're not. You know, if you're not learning, you're not earning, and I have so much respect for people that put in the time to move their lives forward. I think my what I want everybody to take away from this is if I could be a resource former if I can help you find a personal agent. Your market help you find that right person to drive value to your clients of the dollars your pocket. Please let me know. I think there has been a big disconnect and and sort of a big fence between commercial and residential. But as information flows soon, residential agents have look up above what they're working on now to see what other opportunities air out. I just think there's so much money that you could make Andi eventually. Maybe you want to get into a wall or commercial deals? Maybe not. But I just really have a type of respect for anybody listening to this and grateful for the opportunity to be here.

spk_0:   1:4:07
You bet. But what about your podcast?

spk_1:   1:4:10
Oh, yeah, Sorry in that. In that fashion, I said, Dustin has helped me. A couple years ago, like in 2013 14 I lit up a podcast called Everybody Wins Andi, Really, The what came from that? Is that my favorite deals? I'm unable to do a deal. If everybody doesn't mean if you call me and say, Hey, we can go, you know, screw this guy and take over his loan and foreclose on him. I'm not your Huckleberry that my favorite deals air literally where everyone does win goals or a line, you get stuff done. And we've had some absolute home runs in my date. And I had the pleasure of having some pretty incredible people on already on Dustin's helping me line up some very intentional impact. Full podcast moving forward. And I'd love your feedback and your thoughts and questions. But it's gonna be a continuation of everybody wins a commercial real estate podcast with Mark Jensen powered by Dustin Broom.

spk_0:   1:5:06
Uh, powered by industry syndicate. Sounds a little better because you I don't want anything powered by me Will tell you that much. No, I'm excited for that. You know, coming soon. So look for that on the industry syndicate and Ah. Yep. So, Mark, thank you so much. Man. I appreciate you sharing your wisdom and teaching us some stuff. And, um, you know, I'm gonna keep my eyes open now that I know like what I should be looking for and some potential things that that could be a value for clients, for me, for, you know, for you. Another commercial agent. Whatever um, I'm gonna do that. So? So Thank you. I really appreciate your time today.

spk_1:   1:5:45
Love it, man. Thank you very much. Honored. And thanks for listening and look forward to you Doing deals with you guys

spk_0:   1:5:51
for sure. Incredible stuff. I think we're gonna need to do a follow up episode at some point just to dive deeper on some of the stuff we talked about that we just kind of skim the surface. I wanted to make sure you guys got the context of how How the hell to be, To be honest, how the hell an agent got a referral fee for 273,000 and now you know that's possible. And here's what that looked like. Great. There's so much more you can dive into, and we'll probably have mark on in a future episode. So that is awesome. Make sure you go connect with him and look for his upcoming podcast that will be released fairly soon. Called Everybody Wins on the Industry Syndicate Podcast network. Our first and only commercial podcast yet will be bringing a few more on. But he has he No, he is so plugged in, not just in Utah. But beyond that there's gonna be some very big names, very big personalities, very valuable guests on his show. And so I'm excited to listen. I'm excited to be a listener of his podcast when it comes out. So, guys, over the last two months, my my organization, my national real estate team at E XP Realty, has grown 100%. I've doubled the team in two months and some, you know, Yes, I'm working my ass off and and you know, to help that happen. But the economy and the state of the world that we're in right now has been a big catalyst. Is been gas on the fire? It's been incredible. Agents are realizing left and right that they don't need their office space or they don't want it or they're just not willing to pay for it anymore. And that they were realizing they can work virtually. They're realizing there is a better way out there. I mean, let me ask you this. If you if you owned blockbusters and you knew Netflix existed, what would you do? Would you stick around a blockbuster and just wait it out? Would you buy more blockbusters. Would you encourage your friends to come join you in owning blockbusters? If Netflix existed, or would you be thinking, How can I actually get the hell out of this and go to the go to the new thing? That's why a lot of that's why is so many people are coming out of the woodwork right now. So many agents are moving to E X p, and it's no secret if you see the information with open eyes with it, with fresh eyes with, um, not fresh, that would make it sound like you were tired before. But you know what I mean with an open mind with an open mind, you can take your team jersey off for just a second and see what e X P is all about and understand the business model. Then you can decide if it's for you or not. And if not, cool, that's fine. I just want to make sure you can see the business model and decide whether or not it makes sense for you. Go to massive agent podcast dot com slash e x p Massive agent podcast dot com slash e x p and click play on the video. If you If you have questions afterwards right below the video, you can schedule a zoom call with me Right there. I have my calendar scheduler embedded in the page. Schedule it. Quick. 30 minutes, you know, weaken busted out and answer any questions you have. And, uh, I can show you how the business model will work for you and how you will fit into it. Above and beyond that Neil math wagon myself have teamed up. He's the founder of Agent rise coaching and host of the agent rise podcast. He and I have teamed up in the XP. Anyone who joins e x p under him. You know, with him they're not only getting him, but they're getting myself and other leaders in the and the team. So, um, you've heard me mention before our massive Agent Society coaching programme. R E X p. Agents get access to that for free because we want you to have Of course, the resource is to do you know, take your take your marketing game to the whole new level and generate a bunch more leads than you're used to and have full control over your your ability to generate leads, so you get that for free as part of our team. You also get Neil Math legs Agent rise coaching, which is very different from my legion and marketing, coaching and training. His is very good for agents who are brand new or stuck. It is more traditional about business plan and breaking through those barriers. And you know the finances part of being an agent and you know more than just marketing. So it's a great 12 punch if you are looking at E XP Realty. If you are looking at making a move elsewhere and maybe you don't know about XP, consider joining with us partnering with us, linking arms with us because we're going to help you. You're in business. Not not Well, I don't screw that up. You're in business for yourself, but by no means by yourself and so partner with us get the information over at ah, massive agent podcast dot com slash e x p click play on it, and if you like it, let's chat and ah, and we'll show you how we can help you. In addition to and above and beyond what e. X p offers which, let's be honest, is enough is just fantastic. But Neil Math Wagon myself are offering even Mawr to anyone who, ah, who decides to partner with us. Um, because we are now financially incentivized to help you to sell more homes. That is a very, very powerful thing. Don't underestimate that. That's why e x p is growing so fast. We were. Now, if I'm just going to say it bluntly without sugar coating, if I want to make a bunch of money, the way that I do that with the XP is to help you make a bunch of money, sell a bunch of homes and grow a team to help you make a bunch of money than I can. It's an amazing thing that is, Ah, it's really changing the industry. So hopefully, if you are exploring or open minded, hopefully you're ah, you're willing to at least see if this makes sense for you. And if so, let's chat one last time. Massive agent podcast dot com slash g XP and hit me up with any questions or just schedule is zoom call right there in the right there on the page, and we'll do that so, guys, thank you so much for listening. I appreciate it. Great episode. And thank you for your support. Thank you for sharing this episode with your colleagues and your friends in the industry. It helps us out a lot. And you know, any messages or feedback that you have of how we can make the show better? I love to hear I do this for you guys. You know I enjoy it. Yes, but I enjoy it because I'm able to meet new people and help you get through a rough spot or help you to level up. Because I know what it's like to struggle and to kind of be stuck at a certain level for a while. So I appreciate it. Thank you. Guys. Go sell some loans. Wow. I'm maybe I need to get a coffee or something myself. Go close some loans. Go sell some homes. Take care. Have a great weekend, guys. Dr.