 What's up guys, Ricky Caruth here. So is it just me or is this the lowest inventory that we've ever seen? This is the toughest I've ever seen in terms of getting new listings and helping buyers buy homes. Today I wanna share with you three things that you should be doing in this low inventory market. And before I get started, I wanna give a big shout out to Gary Vee. I don't do this very often, but I wanna shout out to Gary because four years ago, when I started watching his content, it really pushed me to start posting content on every single social channel. And it really was the catalyst that got me really jump-started in this career as a real estate coach. So thank you, Gary. And today I also wanna give away free signed copies of my book, List to Last. How to survive every real estate market crash. This is everything I learn through the crash, losing everything, sleeping in my car, and coming back, climbing my way back to the top. So I'm gonna be signing several of these books and mailing them directly to you. All you have to do is like, comment, and subscribe for your chance to win. And also, since all the shutdowns and everything started happening about a year ago, I've been doing so many Zoom meetings with companies and brokerages all over the world. So if you would like me to do a Zoom call with your brokerage and your company or your team, I'm more than willing to do that. At no cost, all you have to do is reach out to me either on Instagram or just email me, ricky at zero to diamond.com. Okay, so let's get into today's video. 2021, what a start it's been. This is one of the craziest markets that I've seen. Definitely different than anything that anyone has seen. It really reminds me of 2003, the beginning of that real estate boom where everything just went sky high out of control and then crashed and burned. Do I see the same scenario and outcome during this market cycle? No, I do not. I think there's a lot of differences. I think we have a much stronger foundation. The fundamentals are really there in our favor. And I think that this thing is gonna take off. I do believe that we're gonna see this thing really take off. I think this is the beginning of a huge run that we're about to see. What happens on the other side of the big run? Nobody knows, but it doesn't matter either way. For us, for you and me, we're real estate agents. We make money on the way up. We make money on the way down. Closings continue to happen every single day regardless of what the market does. We can't let the outside forces, things that we can't control, really dictate our success. So right now you're probably running into several problems. One, you can't get any sellers to really jump off the fence to list their properties because they're scared to list because A, there's nothing to buy. And B, they feel like they might leave money on the table since the market is increasing at such a great rate. They feel like if they sell now, if they wait a couple of months, they could probably get more money, so on and so forth. So it's really tough to get listings right now. What I think this is creating is pent up demand for people to list their properties. You know when the market slows down and there's a lot less buying going on, transaction goes down. What does that do? Every single time it creates pent up demand of buyers. We see pent up demand of buyers. We're very familiar with that. But if you ever thought of pent up demand for sellers, I believe that that's what we're in the middle of right now. Tons of pent up demand, just building and building and building. You think that there's nobody out there or there's less people than a few months ago who would love to upgrade their home. Their home is too small, they need to upgrade. Upgrades are happening all the time, but all of a sudden, no one's listing their properties. Which means that people aren't upgrading, which means there's pent up demand building. People that had another child. People that relocate, people that are relocating and doing stuff like that, that's mandatory. So those are the deals we're actually seeing out there, the ones where people have to sell. But the people that just want to sell, it's not a hundred percent necessity. That's the pent up demand that I think that we're in the middle of that's underneath the market, we can't see it. And when it comes out, it's going to swing so hard and so fast that we're not even going to know what to do. We're going to have so many people that want to list their properties, it's going to be insane. That's one thing I'm really excited about moving forward is that I know that day's going to come. So that's something we really need to prepare for. Another thing is buyers. Okay, every buyer is competing against five, 10, 20 buyers. Multiple offers higher than full price and we're having problems getting our buyer to be the one that gets accepted. So we're running into that issue as well. This is a tough market. It's going to continue to be tough as we move forward. But deals are happening, prices are coming up. It is making some sellers come off the fence. Okay, and the buyers that we have, here's what happens. Sometimes your buyers have to lose a few deals to really step up and realize what they need to do to get the next deal. So when your buyer doesn't win the offer, that's okay. Take it as a learning experience for yourself and them for the next property that comes around that they want to make an offer on. We know we need to be aggressive. We know this is how we need to move forward on it because if not, we're going to end up in the same boat as last time. So some buyers are going to catch on to this, a lot of them, most of them, because most of the buyers right now, they have to buy. They wouldn't be competing with five, 10, 20 buyers if they didn't have to buy. Who wants to compete with 20 buyers? So the good thing is that the buyers in this market are super motivated and if you get the listing, you're going to be the one sitting on five, 10, 20 offers. So there's a way to look at this market and you can say to yourself, this is really hard and there's a way to look at this market and say, let's go, this makes me excited. Let's give it everything we got. Let's go all in with this. So the first thing out of the three things that you should do in this low inventory market is be a data collector. Okay, you need to think of your business. The same as these huge corporations think of their business. The Googles, the Facebooks, the Amazons, the Zillows. Why do you think that there's all these acquisitions going on between different companies? It's all a quest after data. When we're building our business, what are we doing as a real estate agent? We're building our database, our base of data. We need more data. So in this low inventory market, where effort per transaction is at an all-time high, the effort you have to put in per transaction, all-time high, but the effort put in towards gaining a new relationship with someone in the market, a future customer, a future client is the same as it's always been. It takes the same amount of effort to reach out to a certain number of people to have those great conversations and those great first impressions to create more friendships and relationships in the market, which is the name of the game. So if you take this opportunity that we have right in front of us, where a lot of agents are slowing down because the effort per transaction is so high, and go all in with trying to grab as much market share as humanly possible, which is friendships with people in our markets, the more friends we have in the market, the larger our business is gonna be. The more people we have in our database, getting our weekly emails, the larger our business is gonna be. It's really black and white. So how do we collect data? There's two ways to collect data. There's voice-to-voice making great first impressions, collecting the data, and there's digital marketing, social media, collecting the data. When you combine voice-to-voice and digital marketing, then you create a very dangerous situation where you can really create something massive. Too many agents are only doing voice-to-voice or they're only doing digital marketing. They're not doing both. They're not time blocking for one and then time blocking for the other. They're not fitting both into their schedule and that's where they're leaving a lot of money on the table. You guys see how I built my business. I canvassed the market with phone calls, creating great first impressions, building those relationships, followed by a weekly email, AKA my digital marketing, on the same day of the week forever. That's how I built my business. There's so many more tools in today's world. So many more tools. You can do 10 times more damage now than I could when I first started in the business. There was no social media, there was no dialers, there was none of this stuff existed. You should be taken full advantage and you should think of yourself as a data collector first and a real estate agent second. Our quest is to build the largest database in the area through that process of hard work to do that. We're gonna close so many deals. But keep in mind if you think about your business like this as more of a data collector than a real estate agent and you do a real estate on the side, you're really building your business to the point where at some point in the next three to five years, you don't have to do any more cold calls. You don't have to do any more social media. You don't have to do anything. You can live off of your weekly email and continue producing the same amount of volume. That's where you wanna be. The second thing you need to do in this low inventory market is think about going after listings. Too many of us are still buying leads and we should be going after sellers and creating friendships and relationships with owners in our market who own the exact property that you wanna sell. I just dropped the video. I'm gonna put a link below if you haven't seen it. It's called the five secret ways to close more deals and it goes into depth on several of the secret strategies that I've used over the years that I've never really talked about. But as far as listings go, guys, listen. When you go after listings and you put all of your effort into listings, it's really not listings, it's owners. And owners are the best buyers. They're the highest quality buyers by far. So why would we go after buyer leads or buy buyer leads when we could concentrate on owners who buy and sell? They're the best buyers and their listings. Why not focus everything 100% on this group? Business is unlimited. You can't call every owner. You can't contact every owner. Why not put all your eggs into that basket? So the third thing I'm gonna list today which I think is the most important is stop complaining. What did you sign up for to become a real estate agent so that you didn't have to work as hard? Guys, you need to go all in and put every little last drop of effort into the market right now. It's gonna pay 10 fold over the next two, three years. So just to reiterate, number one is be a data collector. Be a data collector first, be a real estate agent second. Number two is go after listings. Put 100% of your effort into property owners. Number three is stop complaining about the market. I hope you got something out of this video. I hope it got you fired up. I'm fired up. I'm fixing to go get to work right now. Remember, I'm giving away signed copies of my book, list to last. Just like, comment, and subscribe to my channel. Let me know what in the world I can do for you today. We'll talk to you guys on the next video. Let's go.