 What's up everybody? Brickie Karuth here. Welcome back to my channel. So today I want to talk about losing over $27,000 in real estate commissions. It's deals that I lost. They slipped away. I did all I could do. I'll recoup some of it down the road because there are some of them were my listings, but maybe I won't on some of it because it was a buyer. Maybe they never come back and buy. So how am I handling this? How am I coping with this mentally? And what am I doing with this extra time I have on my hands? So I want to get into that. First off, I want to let you know that I confirmed Ryan Serhant to come back to let me interview him for a second time. That's going to be on my second YouTube channel. I want to put a link in the description for you to go subscribe, hit that bell. That's going to be Friday at noon central. And what I want to do is I want to give a free book away list to last, how to survive every real estate market crash. Just comment below either a question that you would like to hear me ask Ryan or just anything that's on your mind right now concerning the real estate market. At the end of this video, I'm going to share with you a comment of the day and I'm also going to be giving away free books on just about every video moving forward for the next couple of months. So if you don't win a book, this video, don't worry. We're going to have plenty of chances for me to send you a signed copy of my book. So before we get started, click that like button and let's get into the video. Okay, so how did I lose over $27,000 with the real estate commissions and what's going on? What's the story behind it and how am I handling this situation? And I think this is a big huge subject for real estate agents, especially newer real estate agents that don't understand the game. I know a lot of you are hitting me up on Instagram telling me about deals that slipped away and how hard you worked on it and how bad it hurts. And that's why I wanted to make this video to let you know that I still lose deals all the time, all the time I'm losing deals. Sometimes they come back. Sometimes it's a listing that we had a contract that fell through. Months later, I resell the listing so it didn't really go away forever. It came back in the long run, but for the short term, it slipped away. But some of those deals do come back, but not all of them. Sometimes they're a buyer and they decided not to buy and they go away, they decide not to do anything, whatever the case may be. Or maybe it was a particular property that that buyer only liked that property. There's not another property like it. It's very unique and we're never going to be able to replace that and it was either that property or nothing. So sometimes that happens. So you don't recoup every single deal back, but you do recoup a lot of them. And what I would say is that you recoup a lot more than you would have if you handle it the right way, which is realizing that we do lose deals or deals go away or temporarily go away. That's just the name of the game. There's nothing we can do about it. There's nothing we can do to control that situation. And what we need to do is understand this and to go with it. And what I'm saying is that if you have a client who, let's say for example, you showed them a lot of properties and then you spent a lot of time with them and then they all of a sudden go use another agent out of the blue, just out of nowhere, they just use another agent and you find out that they broke a contract with another agent and they're under contract with another agent. You're like, what in the world is going on here? A lot of agents would get upset. They might even say something rude maybe to the prospect, to the client. And to me, let me tell you a couple of things. For one, I've had these situations and when I was newer, I did. I reached out and I said, what's going on? Why did you do this? I spent all this time with you. This hurts. And those situations never really turned out good for me in the end in terms of that client ever using me again. However, as I became more experienced in the business, now I take those situations and I congratulate the client because they made a choice that they felt was best for them. Now in the end, maybe they decided that was or wasn't the best choice, but when they closed on that property three years later, I've had so many clients that used another agent for whatever reason. And then three years later, they decided to sell that property by another. Who do they call? They call me because I called them and congratulated them, told them I was here to help them. I didn't try to make them feel bad for not using me as an agent. And it always left that door open. So I want you guys to always leave the door for relationships open. Think about your future. Think about your future. So these deals that I lost, it was two deals. One was it was going to be $335,000 and I was going to be on both sides of it for 5%. Both sides, 5%. I think that's like $16,750. Something like that. And literally just slipped out from under my hands. I mean just, I just, what happened was is I went, I showed the property. The buyers were very excited. We went back and forth. We got to where the buyers wanted to be. The sellers wanted to be. Everybody was happy. And you know, the buyer said, you know what, let us think about this just for a second longer. Okay. This deal was done. They were happy. They were excited. We had many conversations. They were moving forward. There was really no signs. Even my wife, she overheard one of the conversations. She said, that deal is done. And then they called the next day and said, you know what, we're not going to do this deal. We don't feel comfortable. We think the markets this or that. We want to be a little more patient and really to be honest with you, the deal was a really good deal and a very nice property. But that's not neither here nor there. It's their decision. So what did I do? I told her right then and there, that is great. That's what we need to do. If that's what makes you feel comfortable, you know, let's start working towards whatever we need to to help you get to the place where you are comfortable to move forward on this or another property. You know, let's do some more research. Let's look around more. Let's do whatever we need to do. I didn't backlash on her. I didn't try to make her feel bad for not doing what she basically told me that she was going to do. So on and so forth. Okay. So that 16,750 slipped out from my fingers and I still have the listing. So I'll sell it down the road. We have a couple of showings right now as we speak. However, that buyer may or may not buy again. Right. So this is part of the game. The second deal was an offer on a listing that I had. We actually went under contract 360. Okay. And about two days later, the buyer decided to back out cold feet. Okay. So cold feet. It was, it was my listing. Another agent's client was the buyer. And so, you know, I don't know exactly what the dynamic was on the other side, but hey, you know, there's nothing I can do about it. The buyer decided to walk. So they have that right. And that's what they did. So these are just two examples of many, many, many, but I want you to realize this when you lose a deal, okay? When you lose a deal in general. Okay. I want you to think about the hours that you would have spent on that deal, everything that's involved in a deal and getting a listing, getting it set up on the market, showing the property, getting the contract, negotiating it, dealing with all the title company, mortgage, inspections, all that stuff, all the way down to the closing. It's hours and hours and hours. Okay. So if you don't get that listing, okay? That's going to leave you hours of your life and the future, future hours that you just got back. Okay. The most important, the most, the highest quality commodity to us as humans is time. Okay. We can never get time back, but if these little circumstances and situations give us future time back, what do we do? Instead of sulking and thinking about it and not taking action, let's utilize that future time and go out there and initiate five more deals in the same amount of time that it would have taken you to close that one deal. Let's go initiate five more deals. This is how you multiply your business. This is how you use losing a deal to multiply your business and every deal that you lose is definitely a lesson learned. So I want you to replay. This is what I want you to do every time you lose a deal. I want you to put the stopwatch on your phone for five minutes. Okay. And I want you to give yourself five minutes, five minutes to think about that deal. Maybe you're, you know, you have the right for five minutes to maybe even be a little salty about it. Be a little upset. Okay. And I want you to think about what happened, what transpired, what can you learn from it to make yourself a better agent? I want you to think about the future time that you get back from that deal. And I want you to utilize that future time in this new knowledge that you have as a better agent and go out there and initiate five more transactions. This is my, this is the Ricky Hruth law of five. I want you to give yourself five minutes. As soon as that timer's off, you're done thinking about it. You'll never think about it again. You're going to drop it and you're going to start utilizing your time to go out there and get five more deals. I hope this video helped you tremendously. I want to share with you the comments of the day. The comment of the day comes from William Patrick and this was off of my video, how to make a hundred thousand in your first year in real estate. And he quotes me here. He says, we trade stocks on the future earnings of companies. So I trade market share on the future earnings of an agent. He said, Ricky Hruth, you're a real estate philosopher, sir. And I think that is so funny, but it's true guys. You trade stocks on the future earnings of companies. And so when I look at an agent's business, I want to look at how many calls you're making. I don't care where the leads are coming from. I want to know how many calls you're making. I want to know out of those calls, how many people you're talking to. And now that I want to know how many you're connecting with. That tells me your work ethic and that tells me your communication skill level, where you are. Okay. And based on that, along with whatever your results have been over the last six to 12 months, I can tell you exactly where your business is heading. And that my friends is what I base a real estate's business on and how I evaluate a real estate agent's business. Leave me a comment for two reasons. One, it could be the next comment of the day. And two, I'm going to give away a free signed copy of my book, list the last how to survive every real estate market crash. I hope you guys got a lot out of today's video. Let me know if there's anything else in the world I can do for you, what videos you want me to make. And I'll talk to you guys on the next one. Let's go.