 Our next guest is Ricky Karuth, is that pronounced that right? You got it. Awesome. Thank you for joining us. So Ricky is a real estate agent in Gulf Shores, Alabama, which we've been there. I love it there. If you find a beach house there, let me know. I want to get an Airbnb over there. He dropped out of college to start selling real estate at 20 years old. Within three years, Ricky made a million dollars, but lost it all in the real estate crash. After sleeping in his car and reading 100 books, Ricky rebuilt his business, and by 2014 was selling 100 houses a year as a single agent. That's so impressive. He is a prominent real estate coach, mentor, and educator through his free zero to diamond. So that is awesome. Welcome. Ricky. What's happening? Hey, it's a true pleasure. I've been following you for a while and we've really never connected before this, but your content's out there. I've been consuming, love it. And ultimately you're the real deal because you're in the trenches. That's what I always appreciated folks that are in the trenches. Nothing against full-time educators, but there's a certain amount of respect. Selling 100 houses and providing tactical information that works today. That being said, how are you preparing your clients to succeed in this crazy low inventory market? I hate to take it this direction, but you don't really have to prepare clients for stuff. The market kind of prepares, you never know what's going to happen. So how do you prepare somebody for something you don't know what's going to happen? So everybody knows the market's on fire and that there are fewer houses per sale. Everybody's fighting over every listing. If you represent a buyer, chances are they've got to lose a couple houses before they realize how aggressive they really need to be. And too many agents are trying to figure out, well, how do I get my buyers offers accepted? It's easy, offer the highest price. It's not rocket science. So it really comes down to price. When you're representing the seller, again, it's going to come down to price. Sure, you want to look at certain terms. You want to make sure of this and that. There's no red flags. And you don't want to be in the mindset of, oh, well, we can just take this. If it doesn't work out, we'll resell it. You don't know what's going to happen. I mean, the market could turn on a dime tomorrow. You never know. Burn the hand always. Trying to make predictions is a losing battle every single time. Back in 2003 and 2004 when the market was just like this, I thought it was going to last forever. I didn't think it would crash and burn. That's why I eventually lost everything because I was wrong about that. I wasn't preparing for it. So that just goes to show you, you never know what's going to happen. I say, be prepared for the worst. Hope for the best. And let the chips fall. Our job is just to push as hard as we can to help people do what they're trying to do. And whatever comes out the other side is what happens. You can't really, to be honest with you, a lot of people think you can control situations. You have zero control over what that outcome is going to be. The only thing you have control over is, are you doing the best you can do to provide the best service to your client? And that's all that matters. Everything else is kind of secondary. But if you're doing a good job with that, you're naturally going to close more deals than you can handle. And that's really the name of the game. And for buyers, you made a good point. I mean, we know what might probably get a deal done, but if this is their first offer, especially in this market, maybe the first time home buyer, they don't really know what they don't know. And going through that experience of rejection when they completely lose out in a deal, that's humbling. And then it starts to put in perspective what they might need to do for deal number two. And probably through that process, they'll end up planning a house that probably makes more sense for them or even better than the first one. I think one thing is that there's actually a few buyers now than there were a year ago. People know that there's bidding wars. And most people that don't have to buy are literally just stepping back right now, giving it a moment, giving the market a second to breathe, letting this cycle of the market pass. That's one cool thing with the market right now. There are buyers who are out there super motivated buyers. You have to be. If you've been thinking about buying and you're serious enough to actually look at a house and write a contract right now, you are on top of the motivation scale here at the very top of that chart, which is great. So there's hardly any tire kickers right now. Everybody's super motivated buying and selling. You're super motivated. Let's face it. If you're a seller, there's nothing to buy on the back end. Now you're back in the same position you don't want to be in. So a lot of sellers are sitting on the sidelines as well. Buyers and sellers sitting on the sidelines right now. Tons of buyers and sellers you don't have to sell sitting on the sidelines, which is incredibly interesting to me because what does that equal? It equals pent up demand that is continuing to build, to build, to build. And it's going to get to a point where it explodes. And these sellers who want to sell because the market's on fire, but there's nothing to buy and they don't want to leave money on the table so they want to wait to the very top. They're going to realize it when it levels off and then boom, market's going to get flooded. Everybody's going to figure it out at the same time. Same thing with the buyers. They're going to realize there's a slow down there for a second and all these buyers who wanted to upgrade, they want to. They don't have to. They just want to upgrade their house. They're going to come out the woodworks because there's going to be options. So when this thing does turn around, it's going to be like an earthquake now, like an explosion like we've never seen. And it's because of how long this cycle of the market is. This cycle of the market could last a while. And the longer it lasts, the larger that explosion is going to be at the end of the rainbow. No one really talks about that. Nobody says anything I say anywhere. A lot of the conversation is bubble, bubble is going to crash. It's hard to crash a market when you have 50% to 60% of the inventory gone. I'm not saying that can't happen. The whole bubble crash thing, it depends on who you are. If you're a homeowner that just bought your house and you're planning on selling it next year for more money, yes. That's risky. If you're a real estate agent, there's absolutely zero risk in the market right now. If you're a real estate agent succeeding in this market, like your next 10 years look great. Really, really good. Well, there's zero risk. There's zero risk now. There's zero risk later. There was zero risk when pandemic came into play. There was zero risk during 2005 when I got out of the business. I just didn't realize it. I didn't understand how this thing really works. Closings happen every single day, forever. They never stop. We get paid a commission on a transaction. Transactions happen by the truckloads every single day. As a real estate agent, as a homeowner trying to flip a house that you just overpaid for, yes, scared. As a real estate agent, why are we even talking about a bubble, a crash of this or that? A market correction would be the best thing that ever happened to real estate agents. Imagine how easy it would be if inventory comes down. Demand comes down. Prices come down. I mean, inventory goes up. Demand comes down. Prices go down a little bit. Think about, and this is the explosion I'm talking about. Just think about how incredible. It's going to be euphoric for real estate agents. When prices come down or level off, the market gets flooded with inventory, and all of a sudden here comes the buyers as well. There's going to be a window of opportunity. It may only last three months. It may last a month. It may last six months. I don't know how long that window is going to last, but it's going to be a euphoric moment for real estate agents because you're going to have people who really want to buy and really want to sell that have been waiting to do that from last year when this whole thing started to now to whenever this thing ends. Love it. Love it. Hey, Tim, let's go by Quick. But do a quick shout-out to your programs. I know you have so much amazing content that it helps a lot of people, so go ahead and make that plug. Guys, just go to Instagram. The link in the bio says it all. I've got everything there, and I answer every single message on Instagram, so if you want to say hi or ask me a question or I'll do anything I can do to help you guys. I don't have a program. I don't charge anything for anything. Everything's totally free. I've got a course, 90-day action plan, books, events, even my event in Miami that I just announced. Totally free. There's already 500 agents lined up for that. We're going to get 1,000 in the room. So, yeah, whatever I can do to help you guys out there. Ricky Karuth, just look me up. Appreciate it. Thanks, Ricky. Thank you so much. Thank you.