 Hey, what's up everybody welcome back to another episode of the zero-to-diamond podcast today We have a really incredible guest you guys are in for a treat here. Let me just go ahead and introduce This guy has sold over three billion dollars worth of real estate he's the star of million dollar listing Los Angeles on Bravo TV and he has just recently written a book The deal and I'm just gonna go ahead and bring him out Let's do this with Josh flag. What's up, bro? All right. Oh Good man. Oh good. Yeah, good. You're looking sharp. Thank you Yeah, man, so you got some serious fans. I When I started putting this out yesterday, I had I got I got blown up with people just Loving you Like that much about but but you know, I try to I try to please I'll think maybe just the humbleness right there people just love that but yeah, I got blown up I was like, man, you know, these people love Josh I mean because I've I've interviewed a lot of people and it was kind of a little a lot more than normal. So That's a good thing Well, here we are That's it man. So I want to get into a lot of things. I want to get into You know luxury real estate like the shift your business What's going on, you know, how you operate as well as you know How an agent could go from regular sales to residential talk about your book and all that good stuff But I kind of wanted to you know, even for myself here kind of hear it straight from the horse's mouth Just like how you got into real estate. What the background was there? Well, I started real estate when I was 19. I was in high school. I didn't really want to go to college so I started knocking on doors, believe it or not and You know one door led to another and one house led to another and all of a sudden I was making sales I mean, I'm not gonna say that it was easy. It was it was challenging and a lot of people don't want to list their house with a 19 year old but I was convincing enough probably because I Have the knowledge and I knew so much about real estate and that's because I studied him I studied it and I studied it and I and I was my passion and it still is my passion and when you really love something you you're good at it and I I You know luckily the show came along But I when I was a very successful broker a couple years This was a couple years later that the show came along but by the time the show came on it obviously catapulted the career Right it was a Blessing of course, I mean It's a tremendous blessing And I'm very lucky for it. I mean you think about all the money that brokers spent on advertising Newspaper ads mailers this that and I have a platform which is you know been on for 15 years and Incindication in 70 different countries and etc. Etc. I mean it's It's It's been it's it's it's been a blessing So when did you when did you first get into real estate? What year was up? I want to say 2005. I was 19 Okay, and then when you say study the market or study real estate like what were you studying back then like what were you looking at? well high-end residential real estate You know I was ever since I was a child even when I was God even when I was six years old if I would have a temper tantrum to you know to shut me up My mom would take me in the car and drive me around and I would go to open houses or I would look at you know I would just look at beautiful homes because that was always my passion. I've always loved houses and I knew that was my calling. I it was going to be that or you know if I remember Fred Savage telling me when I was younger you should be a talent agent and And I always wanted to be a talent agent and my uncle was at William Morris and he said well You got to start reading Variety magazine and so you know I started getting I just got a subscription to Variety and You know one came two came three came and there's a whole stack of them never opened one of them And so I realized okay. I'm not interested in this so I love houses. I love people. I love real estate What do you get you get a real estate agent? Mm-hmm. No, absolutely So and then okay so 15 years ago that was so only after like three years the show came around Three years into the game and then The show came around about two years after I'd say about 2007 Mm-hmm. And then when you got in and you started knocking on doors you immediately Got into the high-end luxury game. You never sold, you know average price point or You know 500 to a million dollar homes you kind of started out in the high-end luxury Did you start out, you know and then move your way into high-end luxury? I Started out. No, I started out in luxury real estate because that's what I wanted to do I mean, that's what I understood and that's what I know. So you do you do what you know, right? and Obviously, I was very lucky But if you know your product and you know what you want and you know what you need and you know What your passion is then you'll be successful at it But if you don't understand it and you don't have the knowledge then you're not going to be and everyone They can just a real estate license and they can be successful. That's not how it works. You have to really understand it What would you tell an agent that Is not in high-end luxury who wants to do high-end luxury then wants to move into that market? I'm sorry. What like what would you tell an agent who is not in luxury, right? Who wants to do luxury? Oh very simple. I would say work go go join a real estate team Work under somebody that is successful knows what they're doing and I would say sit open houses That's the best way to pick up clients That's the best thing you can do. Yeah so like high-end luxury open houses you've got you know Everyone coming through buyers and sellers for luxury coming through the open houses you have Buyers you have agents you have all these kinds of connections coming in and that's what you need and You know, all you need is that one buyer that comes in that might not buy that house but is looking for a house and then That person wants you to represent them, right? And so you got in the show started and that was around 2008 or so right that was when the market was crashing and burning, right? No, I would say no because around 2005 is when I started and Then the show came along a couple years later So that the market was good for a couple of years for the first couple years of then the market crashed Right, right, and then how do what how did that affect you? Like what like what did your what did your business look like, you know through? 2007 to 2010, you know when all that was happening. I think I'd locked that memory out It wasn't fun but you know we we weather that storm and and This too shall pass as they say. Yeah Yeah, and then the market rebounded and has been amazing ever since and then we had the huge run-up in 2021 after the pandemic and then we got covid everyone Right market crash and it kind of did for a minute And then all of a sudden somebody woke up one day and said hey, we're in the middle of a pandemic Let's start buying real estate And so that happened and You know we Somehow the market blew up, you know and then 2022 June of last year happened and the market started to soften industry started to rise and now it's You know March 2008 April 2023 and I see the market has started to pick up a little bit again And I think that we're gonna I think we're gonna be okay this year. Oh Yeah, I mean if you look at prices you're up you're positive and just about every market for the year Right now it dipped down a little and we're off the lows and now it's positive So I think the problem is inventory, right? Is that your problem over there as well? Inventory is low Prices are high People are unrealistic about prices Still and those that are realistic are the ones that go and sell their houses in multiples and those are the ones that That are successful the ones that are listing their house at these aspirational prices are the ones that are not successful Yeah So how many like what's your like? How do you manage your time with filming for the show and And business or does it all play together? Is it all one thing now or is it two separate things and Like how does that work being a you know a TV star for 15 seasons and also real estate agent? I mean, it's a lot of time It's a lot of energy You know we film for about nine months of the year keep it buying houses like you know shows like the house was or they can film in three four or five months because You know, it's just we have to follow transactions and follow escrows and that takes time. Yeah And so because of that, you know Does it does it does it like does it barge into your time that to build your business or to continue? You know helping people buy and sell or are they pretty much just documenting what you're doing anyway? Pretty much documenting what I'm doing anyway And half of the houses that we feature on the show or you know, we only feature half I mean most of my houses we don't feature on the show most of my clients, you know Interested in right and being on television, but a good majority are Yeah Okay, um, what about your like do you I want to know about your business Right, I don't know nothing about the operational side. Do you have a team? Do you have agents? You know, what is your staff like? Well, I have myself and I have two assistants and I have a few agents that work under me, but it's basically me Yeah Yeah, and then like for example This year so far, do you know how many transactions you guys have done? That I can't answer you. I never look at the numbers because what's the point? Yeah, right, right? Give me or give me excited Yeah, for sure So now we're at this place where the market is kind of starting to Kind of level out and kind of come back And but it's kind of crazy because sellers are still extremely unrealistic prices are still incredibly high Like what do you what do you think's going to happen from here? Like do you I mean? I think that we're going to say stable. I think that the prices will stay pretty much consistent where they are I think that They're not going to go up. I don't think they're going to go terribly down I think Beverly Hills will prices will continue to rise um, I think that um I think overall we're going to be pretty healthy. I think interest rates will calm down a little bit um, I think that I'm not tear is terribly worried as most people are maybe I should be but I'm not Well, I mean if prices come down, um, just makes it easier to sell Yeah, pretty much and that's why I see it. I mean if prices go down considerably It's like how easy are those properties going to be able to sell at that point? Exactly You know, so I'm always in a place of I don't care what the market does You know Um, of course, I'm like you I got in in 2002 and I went through 2008 lost everything and and all that so I've been through a few market shifts, so I understand closings continue to happen Cool, man. Tell me about this book. I want to know all about it Well, the book is interesting because it's not one of your real estate books where you read it and you're just like Oh, okay. This is how you sell real estate. This is one plus one is two This is how you calculate the price per foot and you multiply it by the square footage of the house It's not like that. It's filled with comedy. It's filled with stories. It's filled with all the mistakes I've made it's filled with all the great things that I've done It's filled with everything. It's it's just it's an easy read. It's chapter after chapter of great anecdotes, and it's just entertaining and um This is the third book I've written and I think it's I think it's the best one so far I think that people really really enjoy people that are not even it doesn't mean you need to even be interested in getting Into real estate you could just be interested in You could be a plumber. You could be a gardener. You could be a you could be a lawyer You could be anything it just shows you how to make sales and it shows you how the art of the sale yeah, so It's basically called the the art of negotiating right the mat to master the art of negotiating The deal to master the art of negotiation the deal exactly the deal And the subtitle is about negotiating. What what's your like general? Do you have a tip on negotiations? Like just general take away I mean that's such a broad question. I mean there's so many facets to negotiating I mean, it's I can't really answer it like that, but I mean the book outlines everything from a to z You know, it's negotiating is something you either know how to do or you don't it's a gift. It's not something that that uh Like I say everyone thinks they can get a real estate license. They'd be successful It's you either know what you're doing or you don't you have it in you or you don't Yeah Yeah, there's an it factor Yeah, exactly Yeah What speaking of comedy and antidotes and little stories and stuff. What's what's one of your Like funniest deals you ever did Oh my god, I mean One time I had a negotiation on a house and they threw the dog into the contract. They said they were not Can't play dog And they and the sellers agreed and they threw in the dog Wow Yeah So the buyer the buyers when they showed the property, they saw the dog and they just said this dog goes with this house Bye bye doggy Had to have the dog had to have the dog and Yeah, um, but I mean it's like I tell these stories so nonchalantly, but if you read this book I mean, there's just so many interesting stories in there and Luckily, I have a pretty good memory and I was able to write these things down over the years and And you can't script this shit Yeah No, not at all Guys, um, if you're watching here live or on the replay, I've got a link to josh's book in the description Um Or you can go to amazon barns and noble wherever and just search josh flag Um, and the book we're talking about is the deal And so I actually have it started reading it. It's actually quite interesting as josh said So you guys be sure to pick that up And let me know in the comments if you're going to do that and definitely when you read it Shoot me and josh a message and and let us know what you thought Um, because we'd love to hear Bro, like what else is going on like what you got going on today? Like what what's your day look like? Uh people magazines coming over we're doing a shoot like an at-home Lifestyle shoot at my house we are they're featuring my house and doing a profile on me and Um, that's the plan for today Going to look at a couple houses also Have a couple showings Have a dinner this evening and uh You know, that's pretty much it Do you just feel like absolutely blessed? I feel Many days blessed many days frustrated, but I feel overall blessed. Yes What do you what do you get frustrated about? What do I get frustrated about um when I can't get what I want? Mm-hmm Like you can't negotiate what you want Yeah, like just yeah, give it all when you give it your all and you just You know, it doesn't work out Right All right, but you've got I mean I could imagine you have everything that you could possibly ever need Pretty much It's just no nobody has nobody has everything that I need Yeah It's just the point of the matter at that point. It's just you want to win You're competitive You're like super competitive No, I don't think I'm competitive. I accept you know No, I don't think I'm competitive I don't think I'm competitive I think that I'm really good at what I do and I think that I nine out of ten times when I go on a listing appointment. I get it and uh But I would say I don't I don't think I'm competitive now Do you does your business now is just all residual just Past clients referrals people that know you from the show. You don't really door knock anymore. You don't really Do anything in terms of prospecting or Marketing do you do direct mail? Do you do anything outside of just people calling you to do deals? Is it all residual this point? You know, I do mailers. I do email blasts. I do no I do a ton of things But okay, I mean I would say that No, I do a ton of things, but I mean the show is obviously a huge platform I would say that um The show email blast la times ads mailers You know, those are all the Those are the key things. Yeah, so you do la times ads Yeah, you do that for like big listings or do you just do Josh flag, you know, no, I usually do one page ads on each property, you know Um people still reprint Britain believe it or not and if not they read it online Yeah Yeah, absolutely. Do you do like um yearly goals Do you do like goal setting and stuff like that? Yeah, no, I I don't believe in that because I can't control who's gonna call me the next day or what client is gonna call me What's the point? It's nice. So how do you so how do you organize your? You know your routine and stuff. Do you have a routine or is just kind of whatever whenever? Or how do you for for me? I'm the same way. I don't like yearly goals You know, I more so create a weekly daily routine and try to maximize every second And try to get more, you know become more efficient, you know every day Um, that's my goal to do as as well as I can day by day um Like what's your system there to just continue to maximize and become more and more efficient? I just Was my system. I I don't really know if there's a system. I've been doing it for so long I just kind of innate. I just I wake up. I make my calls I I You know, I write books. I I I do a lot of writing. I I You know, just market the hell out of my properties. I call brokers. I There's a lot Yeah, do you go to the gym? No, I don't believe in that you don't work out No You just eat right You just you just eat right you just burn a lot of calories just showing properties and Pretty much going to broker opens Yeah, pretty much So you wake up and you just get it and you're calling You're following up with buyers and sellers and brokers. Those are the calls you're making Exactly. I'm trying to dig in. I mean the audience wants wants to know You know, what the inside of your business, you know, how you operate What it looks like at this point. So Um, that's why i'm asking these questions because I also would like to know I just interviewed josh cohen. He's the number one remix agent. You know josh I mean, i'm sorry jordan jordan cohen Jordan cohen. Yes, I do know him He's an alibu or he's in west lake And he number one remix agent in the world But um, same thing just dug all the way into his business Great guy. You guys know deals I think we've met over the years, but I don't I don't recall ever doing a deal with him. He does a lot of deals in west lake, I believe Yeah, yeah He's a great guy um Cool, so You're a lot like me then you just wake up and get after it all day That's it Try to make as you never know what the day is going to bring every day is something to know Yeah um So what's the goal like what do you like, you know, you don't make yearly goals what What continues to drive you and You know, what's what's the end end goal like what's the five ten year? um You know play if you even have one I've ten year play Honestly, I think I'm going to keep doing this until I'm 80 or 90 as long as I can keep doing it I mean, I love this. I mean, I have really no reason to ever retire. I don't I don't like to I don't I love making deals. I don't really think there is an end here. I don't think there is an end Yeah, I don't think that there is a uh I don't even look I don't look that far in the future. I just go day by day Yeah, yeah, no that's kind of why that's it But the best message I have is if you read this book If you're thinking of getting into residential real estate, you'll know in one second if this is right for you You'll know if this is the goal. I mean, you'll know if this is You'll know if this is right for you And I think it's the best Whatever 17 or 20 dollar investment you can make I like to say Yeah, guys, if you're just tuning in or watching on the replay I put a link to josh's book uh in the description there or you can find it on amazon barns and noble Just starts josh flag or the deal Yeah, that that's exactly that's why I said if in fact there is an end game because I kind of figured there was it for you Just grind until you can't grind anymore Grind until you can't grind anymore That's it Just keep just keep going just selling the property. So Tell me give me a uh, give me a cool celebrity story that you can tell Well, let's see one time I was traveling in asia and I got a call from the real estate agent for Adele and she came to see one of my listings and She didn't want to leave. She said I want to rent this house and I want to I want to move in tonight Like she didn't leave the showing No, she didn't leave. She just said here. I'll wire you the money right now. I'm staying here tonight I'm I'm tired of And that was that That was that and so she was there for like three to six months in Beverly park Nice That was funny. I thought the dog story was funny, obviously um Yeah, I mean, I think that uh, there's so many stories over the years You know, I can't even think because you know It's I actually you know, I probably should read the book again I it's been a couple weeks since I reread it, but it's also an audible. It's nice to hear you can you can Listen to it too, which is really nice. Did you do the did you do the audio? No, I didn't I didn't do the audio. Yeah Cool, cool, cool. Yeah, no, man. Um I'm trying to think if there's anything anything else I wanted to scrape out of you guys If you have any questions for drosh put it in the comments right this second Um, and let me know if there's anything specifically about while we have him Uh, let me scroll through the comments real quick What areas in la are up and coming are there any up and coming? Uh markets in la That you see You know, I think that ship is past. I think that everybody knows everything is everything is already coming. It's already there Bird streets cruise tail Beverly Hills home deals beller. Everybody knows all the ones are ready Yeah um Do you have an operations team you said you have two Two admin assistants myself What what are the what roles do the do the assistants play like what? What's their duties? Do they show property do they do do they go to property? But I have a personal assistant that does all my personal stuff like people magazines coming here You know in an hour. So he's getting the flowers arranged the fireplace arranged those kinds of things um, you know We have um, I have a house manager who takes care of running the household I have You know my my real estate assistant who handles Some showings from me sets up appointments. So there's there's like three main people Yeah Did you ever study art or architecture? I did not but since I was a child I've been going to museums and passions of mine has always been Interior design architecture. That's always been my passion Did you ever call uh, you know, did you ever do the the the typical uh, you know expires for sell by owners? You know calling property owners I used to do that. It works. It works, but it's not I don't really like to get the sloppy seconds unless the seller calls me. I don't really like to go after that That's not really the reputation. I want right. So you did some expires, you know what? I mean if you're starting out it can work It can be helpful Yeah, whatever works works for you Oh, this is a good one. Do you what what's your do you invest? You buy but do you buy investment properties only for myself? I end up buying houses and then I end up Planning to start the project and then somebody always I buy them really well Then somebody offers me a lot of money and I and I flip them and I don't even do or to them That's usually that's been the trend You buy and flip Yeah What about Santa Monica? I don't No, I don't know. No, Santa Monica is not really my territory. Yeah Um, how do you generate leads for your listings? How do I generate leads for my listings? I mean everything that that's pretty easy. I mean the MLS is a lot of trivia. I mean That's that's that's easy stuff Yeah cool, man Yeah, anything else you want to add or anybody anywhere you want people to follow you You know josh flag one on instagram You got josh flag one on instagram. You got facebook. You've got my website josh flag dot com You can buy my book at barns and nobles or amazon Uh, it's pretty easy to find me. It's pretty easy to contact me. Just go to josh flag dot com Yeah, yeah, go to josh flag dot com guys. Uh follow him on instagram I put the link to his youtube channel in the description along with his book Josh thanks for coming on bro Thank you Yeah, yeah enjoyed it and we'll talk to you soon. All right