E 55 | 80% of Realtor Will Fail & 20% Will Make More Than Ever Before | with Morgan Housel

Learn more about how Reside can get you to #1 in your marketplace: https://resideplatform.com/ 

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In this video, co-founder of Reside Platform and author of “Million Dollar Agent” Nick McLean sits down with Morgan Housel.

Morgan Housel is a partner at The Collaborative Fund and a New York Times Bestselling author. His books, "The Psychology of Money" and "Same As Ever," have collectively sold over five million copies and been translated into 50 languages.He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and he has received the New York Times Sidney Award. In 2022, MarketWatch recognized him as one of the 50 most influential people in markets. 

In this insightful episode, Morgan dives deep into the world of real estate, drawing from his own experience and expertise. The conversation begins with Morgan sharing the secrets behind his successful books and the challenges of maintaining momentum in a constantly evolving industry.

Joined by Nick, they explore the pressure to continually excel after achieving success and how this dynamic plays out in the real estate sector. The discussion seamlessly transitions to the volatility of interest rates, offering practical strategies for professionals to navigate unpredictability, including the concept of "Margin of Safety."

Listeners gain invaluable insights as Morgan highlights the essential financial skills necessary for those in commission-based industries like real estate. He unravels the complexities of revenue generation, particularly when operating at a deficit, offering actionable advice for growth.

The recent seismic shift in the real estate landscape, marked by the NAR settlement, is thoroughly examined. Morgan and Nick dissect its implications on industry practices, including the potential challenges arising from leadership transitions and the competitive advantage newcomers may possess.

As the conversation unfolds, Morgan paints a vivid picture of the post-settlement era, drawing parallels with the deregulation of airline tickets and the newfound opportunities emerging in real estate. The impact of Baby Boomers on the market dynamics is dissected, shedding light on their unique preferences and financial influence.

Finally, Morgan delves into the symbiotic relationship between the financial and real estate sectors, emphasizing the role of real estate as a valuable asset class for investment portfolios, particularly in rental properties and property management.

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VIDEO CONTENTS: 

00:00 Introduction

03:00 Morgan’s Success and Overcoming Regression

06:08 Volatile Interest Rates

12:20 Margin of Safety & Operating at a Deficit

19:21 NAR Settlement Impact

29:37 Opening Doors Post NAR Settlement

35:48 Baby Boomers Affect on Real Estate

37:42 Investing and Real Estate

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Show Notes:

Learn more about Morgan at https://www.morganhousel.com/

Purchase Morgan Housel's "The Psychology of Money" at https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681?&linkCode=sl1&tag=collfu