1 Billion In Production In 10 Years • Terrence Murphy

Terrence Murphy talks about his football career in the NFL and how he transitioned to his real estate career. Terrence describes how he scaled his personal business to a team that brokered $1B in less than 10 years. Next, Terrence focuses on his holistic approach into being successful in his business. Terrence introduces his podcast, Real Estate Entrepreneur, and describes what it offers to the listeners. Terrence also talks about how he’s able to focus on all his businesses and endeavors and be successful at all of them and what is he telling his agents to do in order to have a successful 2023. Last Terrence discusses the importance of failure and how that leads you towards success.

If you’d prefer to watch this interview, click here to view on YouTube!

Terrence Murphy can be reached at 979.703.1979

This episode is brought to you by Real Geeks and FollowUpBoss.

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Transcript

D.J. Paris 0:00
How does someone grow their real estate practice from zero to 1 billion in production in just 10 years? We’re going to talk about that today. Stay tuned. This episode of Keeping it real is brought to you by real geeks. How many homes are you going to sell this year? Do you have the right tools? Is your website turning soft leads and interested buyers? Are you spending money on leads that aren’t converting? Well real geeks is your solution. Find out why agents across the country choose real geeks as their technology partner. Real geeks was created by an agent for agents. They pride themselves on delivering a sales and marketing solutions so that you can easily generate more business. There agent websites are fast and built for lead conversion with a smooth search experience for your visitors. Real geeks also includes an easy to use agent CRM. So once a lead signs up on your website, you can track their interest and have great follow up conversations. Real geeks is loaded with a ton of marketing tools to nurture your leads and increase brand awareness visit real geeks.com forward slash keeping it real pod and find out why Realtors come to real geeks to generate more business again, visit real geeks.com forward slash keeping it real pod and now on to our show

Hello and welcome to another episode of Keeping it real the largest podcast made by real estate agents and for real estate agents. My name is DJ Paris I am your guide and host through the show and in just a moment we’re going to be speaking with NFL player turned real estate billion dollar producer Terrence Murphy but before we get to Terrance just a couple of quick reminders the best ways that you can help us continue to produce these episodes and reach more audience. Number one, tell a friend to think of just one other realtor that needs to hear what Terrance for example, you’re about to hear what Terrence is saying and send another agent, a link to our show, you can always find us at keeping it real pod.com Every episode can be streamed right there or via any podcast app. And the second part is that you can help us is by please supporting our sponsors. They’re the reason that we can continue to do these shows and let them know how much love you have for them by checking out their products and services. Alright guys, enough about that. Let’s get to the main event my conversation with Terence Murphy.

Today on the show we have Murphy from exp in Texas. Let me tell you all about Terrance. Now Terrence was a second round NFL draft pick by the Green Bay Packers after graduating from Texas a&m University as a three time Academic All big 12 student athlete. Now Terrance, this is amazing has brokered if that that wasn’t amazing enough, Terrence has brokered 1.1 billion in sales volume over the last 10 years. He currently owns 20 companies actually more than 20 companies under the Terrence Murphy company’s brand and Terrance is an investor in more than 30 companies as a venture capitalist. Now investing in real estate is one of the things he is most passionate about, as he currently owns over 400 beds of residential real estate and commercial properties all over the US. Terrence is also a two time winner of Inc. Five 5000 award for America’s fastest growing privately owned businesses and also is a three time recipient of the Texas a&m Mays Business School Aggie 100. For 100 fastest growing businesses in the world. Terrance possesses the same traits that he portrayed on the football field which is integrity, passion, hard work, dedication, loyalty, desire to succeed and excellence all of which help his business continue his businesses continue to grow and his clients to receive superior service to learn all about territory by the way, he has a podcast that he just launched as well because of course he does he does everything but I want you to learn all about Terrence at his website which is Terrence Murphy I’m going to spell Terrence because it can be spelled many different ways. It’s and by the way, we’re also gonna have a link to this in the show notes. So you don’t have to type this in just go to the show notes and click but if you are typing, it’s Terence t e r r e n c e murphy.com. And you can see all of the cool things that Terrance does and you can also follow him on Instagram, which is at Terrence again te r r e n c e realtor also a link to that will be in our show notes. Terrence, welcome to the show,

Terrence Murphy 4:48
man appreciate it, man. Sorry about the long intro my team sent you. But at the same time, they always laugh because they’re like, Well, hell, you’re doing so much we have to make the intro and sighs So it’s fun, man. Thank you. Great job.

D.J. Paris 4:58
Thank you. No, thank you. Oh, and I love reading long intros like that. Or sometimes people it is funny sometimes people we interview will send us things that we have to pare down because we’re like, okay, nobody cares about this. And that everything that you guys sent over was things I’m like, I have to talk about all of this. Because this, I think it was very concise. You just, you just do a lot. And I think that I’d love to talk to you about, you know, the fact that you run so many different businesses, you have so many different interests. You’re a busy, busy guy, and at the same time running the successful real estate practice. But before we get to sort of where you are today, I’d love to learn a little bit more about how you got to where you are today. So I’d love our audience to hear about, you know, sort of your football career and then how you transitioned into real estate.

Terrence Murphy 5:46
Yeah, and so born and raised in East Texas, I grew up with a single mom. And so for all the kids that grew up with single moms, and for all you real estate agents that are single moms, I love you, and I’m proud of you. And so yeah, I just grew up with a single mom, she put a lot into me and encouraged me, pushed me and was very hard on me. And that’s the way that I’ve become who I am as an entrepreneur and as a student athlete, and as a professional athlete. And then just having the heart to help, right, because I’ve lived that life where we went, not having everything. And so I just have the mentality to try to help him like we talked about earlier, DJ. Life is like a boomerang, right? What you put out, you get back. And not only do you get it back, you get it back with precision. And so for many years, I’ve encouraged real estate agents, I’ve, I’ve coached him, I push them, I’ve given them tools. And now I’ve been able to see the benefits from those seeds that I said, as people are starting to join my organization at exp, like crazy. So it’s been cool. But yeah, that’s I grew up there, went to Texas a&m football scholarship, got drafted by the Green Bay Packers with Aaron Rodgers. And back to back end and film EPS as my roommate, my bro. And he’s killing the game. And then I retired and moved into real estate, and just grew and grew passion for it. And to start off as a developer and an investor got my license with the Keller Williams for a year, which we all do. started an independent brokers team and five, I told people I was going to scale. My independent startup brokerage. This was in my early 20s. But no experience. I did seven transactions when I started to evolve. And I said, I’m gonna scale it to a billion in sales in 10 years, I actually did it in a way and people were like, there’s no way you’re in a small town. It’s not possible, you need a franchise. And we did. And that’s that’s how I got into real estate after retirement. And

D.J. Paris 7:39
it’s, it’s incredible. And I know you’re skipping over about a million steps along the way. But I love the fact that here you are. And this idea of scaling is so, so important, especially now where I see agents flocking to teams, or teams have become more and more important, more and more prevalent, more more and more attractive, I think over the years, and we’re seeing this flocked to teams, and I’m hearing well, I’m interviewing a lot of people for the show, and also just here for our brokerage in Chicago that are struggling with scaling, trying to figure out how do I go from being like an individual producer to running a team than to scaling the team? And, and those are different skill sets? And was that difficult for you to get from? You know, well, you said you, you were just done seven transactions, you’re like I’m building a team. I’m gonna I’m gonna scale this thing up to a billion. Well, let me ask you a different question. What gave you the confidence to think that that was possible within 10 years? Because it really shouldn’t be possible, at least, you know, to the sort of my logical mind, right? This that shouldn’t be possible yet. You did it. And you did it faster than you thought. So what gave you the confidence and the courage to do that when really all signs were pointing to? It’s going to take longer than that?

Terrence Murphy 8:56
Yeah. Or even be possible at all right? I think for me, that goes back to just that background of, you know, I tell people when I was five years old, I remember having a picture of me, my mom bought me like one of those little uniforms. And that was my Christmas gift. And I remember telling people that fine, I’m gonna make it to the NFL. And so can you imagine from five to 22, for 17 years, you’re telling people something that is nearly impossible? If you look at the numbers? Absolutely. I mean, it literally is no way. Just from a number standpoint, you should make it to the NFL. And so not only to make it but to make it in the first two rounds. So I had already been there before, right holding on to a dream that coaches opponents, family members, teammates, whoever tried to talk you out of like, Hey, that’s not possible. It’s not real. You might want to do something different. And you just keep fighting for it, man, you keep holding on to it because you know, within your heart as possible. So when I achieved that dream at 22 I tell people I’m okay with playing the long game. It took me 17 years to achieve a dream. Right, right. And when I tell people one day, like I said, Hey, I’m gonna go do one in college football. Well, at that time, this is crazy DJ. My sophomore year, I was the only sophomore varsity. We went, Oh, and team. We didn’t win one day. My junior year, we wouldn’t want a nine. So going into my senior year, we were one and 19. Yeah, we hadn’t signed a D one recruit in 10 years. And I’m telling people, I’m gonna go do you want? And I ended up leaving my high school with 20 Do you want offers. And then I actually had about seven foreign academic offers to like Rice University, and UNC places like that. So I’ve been there before. So in my mind, when I feel it, and I pray about it, I’m like, that’s what I’m doing. I don’t even think about the other option of not doing it. And I would say put me in a desert, I’ll find my way to the water. That’s just the way I’m wired. And I think that’s what people are seeing now as I’m growing one of the fastest organizations in history now. VXp is because I’m giving people the roadmap to get there and get there with the right tools. Yeah,

D.J. Paris 11:08
boy, that is you just said so much in such a short period of time there. Because really, he talked about perseverance. He talked about singularly focused like, almost like, horse was happy when they put the blinders on. It’s like, Hey, I’m going to achieve this. And, you know, there’s certain things that are outside of that were really outside of your control. Right. You talked about the the, you know, the record in high school, like not great, not not your record, but just the overall team record. There was no history of of D one players, you know, any recent history from that school, and yet you did it. And I’m guessing because you were singularly focused. I imagine if you hadn’t have been drafted second round, I imagine that really wouldn’t have changed much for you anyway, because you would have just pivoted, and pointed your Northstar at something else, and made that successful. So I imagine is perseverance. How important is that to you? I mean, I imagine it’s gotta be pretty important.

Terrence Murphy 12:08
Perseverance is very important. But what I will tell you is, you know, the great thing about athletics, the great thing of growing up with a single mom, the great thing with my background is day in and day out, you have to get up and you have to work. Yeah. And, you know, I have successful businesses as an entrepreneur in middle school. Like when I was 12 years old, I had, like, different businesses that I was running. And so just the mentality of, I don’t wake up with the Oh, it’s not possible. I’ll wake up with. Okay, how am I getting there? Like, right now? What steps do I have to take day in and day out? Like, there’s a great book atomic habits, right? It’s just love atomic habits. Oh, man. And so I think the reason why, you know, I’ve been coaching real estate agent now for 10 years. And two things I’ve always said no to is people would ask me to come train their agents. And I would say, I can’t do it. I don’t have a coaching business, or can I invest in your real estate projects, I didn’t raise money, and I didn’t have time to teach. So I would just teach my agents. But as I’ve now started expanding my coaching services, people are blown away, but the athlete in me and the coaching me, I can give you very practical tools, that it doesn’t sound like man, I got to do all of that to get there. It’s like, no, just do this for the next 30 days. And once we get to 5 million in volume over the next year, and here’s how you get to 10 million. And here’s how you get to 18. One of the things I took pride in is I’m real big on studying statistics. And once I see statistics, and then I say, okay, the average agent closes seven to 10 deals a year per year. How do I five extent with my team and my brokerage. And so, for the 10 years that I ran an independent brokerage, we ever started on point five transactions per person. So our per person production was at 40 deals per person. It’s amazing. So we were so focused on just everybody being very successful versus just growing the numbers. Wow.

D.J. Paris 14:04
I mean, it’s, it’s, it is truly incredible. And you’re right, this idea of seeing what is possible, because there are people that do this, right, like, You’re not the first guy to 5x You know, a team’s productions, although you’re probably one of the first people to do it. But you’re probably not the first there’s other people that have done this, you can study some of their habits, oftentimes, you could just reach out to these people and ask, that’s what I do on the show. I’m reaching out to you right now to share, you know, your secrets with with our audience. So it is incredible. How important was it? You know, you’ve been you’ve had coaches, you know, throughout your entire academic life, you know, starting from as early as when he really got into athletics as a young man, and then all the way through, you know, high school, college professional, professional athlete athletics, and then how important is it to be coachable? Because of course, you have the perseverance you’ve got the discipline, but Having a coach, how important is

Terrence Murphy 15:01
that? I think the biggest misnomer about coaches that really shocked me, because when we squat I’m 15 years old on I kind of got removed from the world. Right? Like when we were on campus at Texas a&m Like we they like had us like overheated, like a wager. Your day is planned out. And when you get to the NFL like you see us playing, but no one really gets to personally interact with you. So when I got introduced back into the world at 22 years old, or 23, Once I retired, I was just blown away at the unwillingness to be passionate about what people do every day. It was like, where am I at right now life, because we have the best doctors, the best marketing people, the best publicists, the best everything the best nutritionists. So I just miss being around greatness. And that’s what I wanted to create. And I think the biggest misnomer with that, is that all coaches are all mentors have the right playbook. Sure, because there’s a lot of broker owners, and that’s what blew me away, they became broker owners because they were not good real estate agents. That’s true. It’s like, let me hide behind the desk and say, I don’t want to sell real estate, I just want to be a broker where you are not selling a lot of real estate anyway. And so it blows me away. And it’s like, hey, after the new year, we want to lose 10 pounds, and we show up and our trainers out of shape, well, then I got the wrong trainer. So I’m always telling people, man, when you look at getting a broker or a mentor or a team leader, our sponsor at exp, really make sure they have the successful track record. And that they can communicate it in bite sized pieces to you to follow the breadcrumbs to success. And that’s one of the things that I take a lot of pride in building out the processes and procedures to help people have the same or more success than I’ve had.

D.J. Paris 16:47
Yeah, I think that’s right, and you’re a coach, do you also still continue to get coached I’m sure people would love to, to hear that. If you do or not.

Terrence Murphy 16:55
I don’t it’s but but here’s where I find my, my, my my coaching and my wisdom, you know, in my Bible. And then I’m a book, I’m a book guy. I love tangible books. And and then I just got into podcasts. So that’s really where my books is like my lifeline. Like I read my books, I’m doing a 52 week challenge right now with my organization at exp. So we’re reading one book a week, every week. Wow. And then we meet in a room five days a week, because I do everything by five. We meet in room five days a week and clubhouse and we go over that book. So there’s a lot of accountability there. And it’s been really good man. So they’re digesting so much information at a rapid pace. And that’s been life changing for us. Do you have so far

D.J. Paris 17:43
has there been one book? And I know you’re reading so many that I’m sure they’re all valuable in certain ways, as there have been one, you know, you mentioned atomic habits before? Has there been one in the last, you know, however long you’ve been doing the 52 week challenge where you read a book once a week, that’s really sort of risen to the top of like that one spoke to me more than more than the other so far.

Terrence Murphy 18:02
I’ll give you one, but then I gotta give you five. Is that cool? Right? So the one I would tell every human being that they need to read is untethered. So Oh, yes. Until Oh my gosh. And then he’s got a new version of it. I think living an untethered life. But Untethered Soul really gave me for your, you know, because as athletes as real estate entrepreneurs, as these successful people, right, these brokers, these team leaders, these owners, we have to walk around with our chests out at all times. We got to be peacocks at all times. But some of us are broken, right. And some of us really need to be able to be in a safe place to communicate what we’re going through mentally. But you don’t you got to put this mask on every day, right? And until the soul really breaks that down. And that book is life changing to where you realize, like you need to be breathing, doing breathing exercises every day. You know, we talk about hydration and sleep and all that, oh, no one’s talking about breathing, how important it is. No one’s talking about the mental aspect of life, to be able to meditate and step away from this nauseous world of information and slow the brain down.

D.J. Paris 19:12
It reminds me of that expression. It’s an old musical expression, which is it’s not the notes that make the melody. It’s not the notes that actually create the song. It’s the space in between the notes that it’s like, oh, yeah, of course. It’s the space in between notes. Otherwise, it’s just one continual note. And that’s the silence that we don’t often give ourselves I find, you know, we have a device in our pocket. I was thinking about this this weekend. I’m not the first person to think about this. It’s not a brilliant thought. But it’s almost like a magic. It’s almost like magic. We have magic in our pocket 24/7 And we can use that to summon up whatever we desire. And you have to be really careful because it’s super addictive and it takes time away from being able to sit alone quietly and think and reflect. Do you make meditation or reflection? In a regular practice for you,

Terrence Murphy 20:02
I have, you know, we were taught to visualize as athletes, but we were never taught to meditate and breathe. And I think it talked about, you know, in the US, we are the worst at breathing, right? Our posture is terrible. Look at me right now I need to sit up now. And I’m thinking about it right. And we just don’t breathe, we don’t breathe. Well. We’re continually throughout the day, taking short breaths. And we’re not taking deep, long, continual breaths, we’re rushing to the next meeting. And I always tell everybody, that’s why I started this whole movement, we have to become real estate entrepreneurs. We can’t just be realtors, we can’t just be brokers. We can’t just be team leaders. We have to be real estate entrepreneurs. And when we become real estate entrepreneurs, we’re creating multiple income streams. We’re thinking about legacy, right? We’re not just We’re not just building a business for today, we’re building a business that will give back to our kids kids, right? We’re thinking about other people. And we’re thinking about our mental health, we’re thinking about the impact we want to leave. That’s the real estate entrepreneur piece that I’ve really like went all in on man. Like we even had a day, call rejuvenate day, I brought in all my agents. And we brought in a nutritionist, we brought in a trainer, we brought in a psychologist, like we brought in Enneagram coaches, we brought in massage therapist, a yoga instructor, we started off with yoga, and it was a beautiful day, just like really just putting them outside the box in this place of uncomfortableness, to force them to think about these things. And man, I have so many my agents, it still takes me, man, I’m still using some of the things I learned that rejuvenate days. So that’s really what I’m focused on.

D.J. Paris 21:39
I love that it’s a holistic approach to being successful at business, because you’re you’re really talking about being successful in every area of life. Because if we think of our life as a as a, you know, as a circle, or a wheel, you know, it’s we got to make sure that we’re pretty smooth, smooth, you know, around the edges, we got to make sure that, you know, our family life isn’t in the toilet, if we’re expected to do you know, but our business life is going great, it’s like it all has to be working pretty pretty well not that we don’t have ups and downs because of course, every single person does, regardless of their level of success. We all go through things, but this idea of treating not just the business side of it, treating the human side. And you know, the breathing thing is so, so interesting, because we all know this, like we’ve all heard this a million times we need to slow down or press we need to take deep diaphragmatic breaths we need to you know, and yet, I never really realize the benefit until I read some studies on on breathing, where, you know, I I am I have a lot of anxiety. It’s just kind of, you know, part of my DNA or whatever how I was raised or whatever. But regardless, there are breathing exercises that have been proven to reduce anxiety. And I’m like, Oh, this is so great. I don’t have to think my way out of it. I could do these deep breathing exercises that are super simple. And it’s like, wait two minutes, and then oh my god, I feel better. So it is it is remarkable. But you’re right, taking short breaths throughout the day, nobody talks about this in real estate, at least. It is really a big, big deal. And athletes are taught how to take deeper, longer breaths because of course, you’re also in peak physical condition, which helps. But beyond just working out, you can do this at your desk, you can do this throughout the day. And it really does center. I mean, it’s it’s the basis of meditation, right as breath. So boy, you’re you’re you’re saying you’re saying a lot of really, really great things that I’ve had done a lot of these episodes that people don’t talk about. I mean, sir, certainly we talked about being physically fit and you know, drinking enough water and eating right, but this idea of breathing and meditating and reflecting I think we’re such we’re in such a stimulus response world. And again, the phone in our pocket is going to try to grab our attention every few seconds. This is a way to to shut that out. So yeah, let’s before we get let’s talk about your podcasts. I know this is new real estate entrepreneur with tangents Murphy, so tell us about it.

Terrence Murphy 24:00
Yeah, before we go there, I want to make sure that I’m following up for your audience because I tell them I give them five books and I’m real big. Oh, I’m sorry. Yes. More books. Yeah. So untethered. So why the rich get richer by Robert Kiyosaki great book. A time atomic habits which we talked about earlier, traction by Gino Wakeman. So you got those four, and then good degree, those would be the five I would have people read. And as we pivot to the podcast, I think more than anything. People realize that they need more, especially real estate agents. And you’ve been through a downturn, I would say, a recessive market or a shifting market. I think people will start realizing that again that they need more. And one of the things that I teach my agents and sweat equity versus check equity, truly building a business with the right foundation versus just buying leads right when we saw Open Door Zillow. Redfin, So people were just was buying those leads, they’re in these contracts, real estate agents are stuck in these contracts. They’re paying 2500 a month, 3000 a month and I’m not getting the same.

D.J. Paris 25:09
And even beyond that, what happens if and when Zillow is like, you know, we’re just going to be our own thing. We’re going to have our own agents, we’re going to do our own thing. We’re good. We’re no longer selling leads to agents that day. And this, this is just a gasp, that day is coming. So, so I’m sorry, go right ahead. I interrupted you.

Terrence Murphy 25:26
No, no, you got the same passion for it as I do. They take our information from us and and sell it back to us. So I’m always trying to empower real estate agents, I have a very, very soft heart in a sense that I’ve seen so many of my friends. I worked with agents at Cohen’s. When I started, I was 23. And they were in their late 70s and 80s still selling real estate. And that’s why I would say, when have you been to a real estate agents retirement party, either get out of the industry, or they sell real estate until they don’t know what else to do. And that’s what I’m creating. I’m creating the real estate entrepreneur movement, where, like, I’ll take about on a normal real estate transaction is about 20 to 22. Companies that make money, title, mortgage survey, Home Warranty, I can keep going

D.J. Paris 26:15
right inspection appraisal, yeah, etc. Yeah, it keeps

Terrence Murphy 26:17
going. So I’m teaching my people in my world how to buy those businesses and get owner distributions. I’m teaching them how to invest in real estate, how to start their first investment portfolio because my wife and I bought commercial strip centers, we bought multifamily. We’ve done neighborhoods, we’re developing neighborhoods alongside Jack Nicklaus right now. And so we’ve done and we’re teaching people those exact steps on how to create multiple income streams.

D.J. Paris 26:44
I want to pause for a moment to talk about our episode sponsor are one of my favorite companies out there follow up boss. Now after interviewing hundreds of top Realtors in the country for this podcast, do you know which CRM is used by more than any other by our guests. Of course, it is a follow up boss. And let’s face it, following up is the key to taking your business to the next level follow up boss will help you drive more leads in less time and with less effort, do not take my word for it. Robert slack, who runs the number one team in the US uses follow up boss and he has built a one and a half billion dollar business in just six years. Follow up boss integrates with over 250 systems, so you can keep your current tools and lead sources. Also, the best part they have seven day a week support. So you’ll get the help that you need when you need it and get this follow up boss is so sure that you’re going to love their CRM that for a limited time, they’re offering keeping it real listeners a 30 day free trial, which is twice as much time as they give everyone else. And oh yeah, no credit card required. So you can try it risk free. But only if you use this special link visit follow up boss.com forward slash real that’s follow up boss.com forward slash real for your free 30 day trial. Follow up like a boss with follow up boss. And now back to our episode. Yeah, it really is the way to go as as somebody who I’m not a broker owner myself, although I work hand in hand with with our owner here. And he and I have created several ancillary companies to do exactly what you’re talking about, you know, because for people who might not be realizing, especially people who want to start their own firm, what you might not realize, at least on the residential side, is brokerage is a very low margin business on its own, and to really make a nice business that might be sellable one day, you need to have these ancillary lines. And also, they’re just great ways to increase the bottom line in getting involved in Title maybe lending depending on you know, what state you might be in, you know, again, commission advance, there’s a lot of title, you know, like you were saying, lots of different lines. You’re absolutely so right, because I think people oftentimes want to want to get in, be their own managing broker have their own business, and they don’t realize what the margins actually look like. And then they’re like, oh, wow, this is not the This isn’t like I just broke free from a Keller Williams, which is a great company, but now I’m on my own, I get to keep everything. And it’s like, oh, and now I have all these other expenses as well. So it becomes tricky and and but I think you’re right, this idea of an entrepreneur is Robert Kiyosaki is sort of the guy who really made this as popular as it is, is this idea of residual income and creating streams of income that are more predictable, because as we know, real estate is transactional. It’s so odd to me that no one has figured out how to make it a fee based business like what financial advisors have done, financial advisors, the smartest thing ever, which basically said we’re not stockbrokers anymore. We’re not earning commissions, where you’re going to pay us 1% Or whatever the percent, you know, of all the assets under management. Real Estate hasn’t figured out how to do that. Maybe they never will. So real estate does become very transactional. You need these other businesses just so that you can not freak out on the first of the month, every month, right?

Terrence Murphy 29:59
You and hit a wall, right? You know, it’s like this. I’m gonna draw, I’m gonna create an image one day, I may even create a t shirt. But it’s got these paths, right? And they all have a hamster wheel at the end. But they make you think that this path is better than that path. So it’s like you’re a real estate agent. You’re a brand new agent. Now you become a top producer. Now you lead a team. Now you own the brokerage? Yeah, you’ve made it when in reality, most of the brokers I talk to are the ones that are broke. It’s called broker for a reason, right? And the margins are based, you know, I ran a mastermind of the top broker owners in the world at one point or in the USSR. And, and I ran it in the shadows, and no one even knew I started this group, but I told him to one rule I have is well to if you’re not going to be here, let me know. And two is we can’t talk about this in any public forum. So I was running a mastermind for some of the top brokers in the United States for like three years. No one ever knew about this, uh, we and man we, I mean, you had Keller Williams, you had REMAX you had Coldwell Banker Sotheby’s independent brokers in that room, and I coached him every week. And everybody was saying the same stuff no matter what model they was in, they were in so. And I think that’s why exp is the fastest growing brokerage in the world because it’s figured out how to give agents shares and stock. It’s figured out how to give them new income streams. And it’s a beautiful model. But I know we’re going to talk about the podcasts. I wanted to go back and hit those books.

D.J. Paris 31:27
Oh, yeah. No, and thank you for that. And before we get to the podcast, I think you know what, what exp did is really it’s beyond remarkable because they the way I interpreted is they basically took the Keller Williams model and said it wasn’t quite exactly fully realized in the way that Keller Williams and I’m not picking on Keller Williams, obviously, they’re amazing company, of course. But basically people left Keller Williams and said, We think there’s a better way to do the same sort of thing with, you know, giving people more agency more ownership. And so they figured it out. And holy crap, did they figure it out? They are. I mean, it’s it’s like the results speak for themselves. And anyway, so yeah, let’s talk about the podcast.

Terrence Murphy 32:06
Yeah. Last thing on that I always tell people when they asked me, What’s the difference? And and I know Gary, personally, we actually met years ago, we got introduced by Tim how, because a friend of mine from college, one of their top agents, great friend, great guy. And we were supposed to meet for five minutes, and three and a half hours later. Me and Gary and Josh team, my wife was in the room, it was just us for she checked out. She was like y’all go with it. And as you can see how my mind works. I mean, we were just me and Gary, were just on the whiteboards going at it for three hours. And, man, he’s an amazing dude, sharp guy, genius. Respect for him, man. He’s a genius. And so I always respect him. And he said, Dude, I have 100. And at the time, 80,000 agencies like, You’re different. You’re special. I want to be a part of your story. Anything I can do to help you and Erica, let me know. So always will respect Gary on that. I will say on the model. I will say you explained it this way profit share if you take a p&l statement, whereas profits on the bottom. Yeah, right. And so this person gotta be paid, this person got to be paid, this person’s got to be paid. And finally, we’ll share the profit with the agents where usually there’s not a lot left, right, where exp flipped it upside down and say what’s on the top of will pay at the top? Yeah, yeah, it’s revenue. Yeah. So that’s the difference. But they figured

D.J. Paris 33:19
out how to do it. No one else had figured out how to do that. Now there’s a bit a few copycats that are coming along. Because they’re like, hey, this, this idea of this rev share model works really, really well. So it’s it is it is truly incredible. Yeah. So let’s, let’s talk about real estate entrepreneur, what’s the goal of the podcast? Who were you speaking to? And by the way, everyone should check it out. We’re gonna have a link to this directly in the show notes as well. So you can subscribe right from from the show notes. But tell us about it.

Terrence Murphy 33:45
Yeah, so when I was thinking about a podcast, my wife has really been on to me about celebrating. The overachiever in me, Chief stuff. I don’t even stop to smell the roses. I’m on to like the next one, right? I’m just. And one day, she said you got to celebrate. I said, okay, cool. So we achieved the goal in our 20s that we wanted to achieve, which was buying a strip center, we bought a script center in North Carolina in Nashville. It’s Buffalo Wild Wings, Starbucks and different tenants. So we took a picture in front of it, and I posted it. And like a week later, it had like, a million shares. And I was like, what just happened? You know, like, wow, and people were just so inspired by the story that we tell the piece that I posted. And that’s when I realized, like, what I’m doing and how I’m doing it can help a lot of people. So people started messaging me message me on Instagram, Facebook, and I could not obviously keep up with all the messages. Do you have any book? Do you have a book? Do you have a coaching course? Do you have a podcast? And you know, the crazy thing is at the time, I realized I told my wife and said we don’t have any of these. Like, we have no way to help these people. So that’s when I said alright, let’s start this podcast. And so instead of naming it real estate realtor or builder or broker, real estate entrepreneur kind of embody everything that I’m doing. But the goal is to go after realtors to go after brokers to graph the builders, go after investors and just let them know, these are the fundamental things you need to be learning and reading about and putting in place in order to scale your business. Because the one thing I’m passionate about is scalability. I know how to scale things, and I know how to grow things. And that’s something I’m passionate about doing. So that’s what the podcast is real estate entrepreneur with tears Murphy. And I’m just bringing in people to talk about that.

D.J. Paris 35:30
Yeah, scalability is is really its own skill set, it requires the willingness to probably step away from individual production or to step outside of the constraints of individual production, and which you know, it for anyone who’s a real estate agent is probably hyper focused on their own personal production or their team’s production. And then trying to say, Okay, how do I, how do I want X 2x 510 exes, and which require a whole set of systems, so your systems, your data and systems guy really at heart,

Terrence Murphy 36:05
process and people’s what we say in our organizations, because people always ask me, How do you own 20 companies and you’re invested in another 30 process and be in the cradle? Go ahead, go for Dejan.

D.J. Paris 36:17
So I have a question that I’m sure every single person on this podcast is thinking, how does this guy accomplish and do so much? This isn’t me giving you a compliment, although it is a great compliment, but it’s really, how are you able to to be a podcaster an entrepreneur, run a brokerage all your you you own bought prop lots of properties, you have a team? How is there enough time in the day? So this probably goes back to scalability, but how are you able to sort of keep it all running when most of us, you know, are focused in one or two things and we’re struggling? How are you able to maintain that focus with all the different you know, sort of adventures that you’re into, and oh, and you’re a VC. So we can keep going you do a lot, you can do it all, you know,

Terrence Murphy 37:05
I believe everything we go through in life is to to be a part of your story. And when I was 16, my mom had a heart attack. And so at that moment in time, she made it through for a couple more years after but I was working two jobs in high school, I was the team captain on the football team, I was an honor society with a 3.8 GPA. So I’d already been learning these tools. And when you are 16, I drove myself to school, I fed myself like I literally was at home by myself. And so you just kind of became an adult an early age, I didn’t understand why I was going through that. Like, why was it so hard. But looking back, like those experiences happen for a reason. Same thing with my NFL career, I worked my butt off to get to get there. And I got paralyzed. I mean, I got paralyzed from the neck down. I had a really bad neck injury. And just working my way back from something of that. Oh, man, trauma, right, just learning how to use your arms again to walk again. You know, I had neck surgery. And I’m like, why am I going through this? But it’s not why. It’s how can you use it to inspire other people? And how can you use it to be a better version of yourself. That’s what I tell everybody in my work. You are competing with you, I want you to be the best version of DJ, everybody else has already taken so be the best version of you. And in that my capacity grew. My, my passion for entrepreneurship and real estate grew my one prayer to God when I was in the middle of depression, I mean, deep in depression at 22 years of my dream was shaken when I can’t walk, I’m in a wheelchair, I’m trying to figure this stuff out. It’s just given me a passion. God gave me something that I could be passionate about. And when he gave me real estate, that’s when I knew, Okay, so that’s why when people when they hear me speak, or they listen to me, they’re like, do you just speak with his different conviction? Because when you’re praying to God in the middle of depression, and you paralyze thy God, give me a passion, and he shows it to you. There’s no way I can speak with conviction. So as I think through how we are trying to scale, I’m always challenging myself. The foundation of scalability is number one, you are you operating with the best version of your time I call it TBS, where’s my time best spent on a day to day basis? So I literally meet with my team probably every other week about my schedule with people that think well, you kind of create it and leave it right. Interesting. I mean, and I refined my schedule every two to three weeks, and no one will tell you that because no one’s doing it right. But when people ask me, Well, how did you learn that? Well, I learned it from okay, if I’m a wire receiver, and at practice, I’m running this route, right and I dropped the ball. Well, right after practice, I go right in and I put the tape on I’m like, Okay, if I were to just put my foot here and what this way it would have made it easier. So I took that all I did His take life experiences. And I translated it into real estate entrepreneurship. So that’s why when people are trying to study me, they can’t figure me out. I’m an enigma. Because I’m pulling from life experiences I’m pulling from books, I’m pulling from things that no one it’s I’ve taken, I’ve taken the ingredients of my life and made it into a recipe. And now I’m able to listen to you, I can interview your DJ. And the first thing if you were going to work and be a part of my team, I would want to know your story. I want to know those those points. And I can help you take those ingredients in your life and create it into a successful recipes to scale. So that was a long answer to say, everybody’s recipe will be different. But it starts with time blocking. And then once we understand where we’re putting our time and how we’re managing our time, then it’s processing. And so

D.J. Paris 40:52
you know, it’s so funny, because we do want to make this more complicated. We want as individuals to think, oh, my gosh, my life is so complicated. And yes, it can feel that way. And absolutely, I’m not here to say that, you know, my life is harder than anyone else’s are more complicated, because of course, everybody’s their own unique individual has their own challenges. But you’re absolutely right about this idea that what we have to do is, is constantly evaluate in not in a I’m worthless way, not in a denigrating way, but in a Where is my time best spent today? Where was my time best spent yesterday? Where did I you know, where was I not super effective. What’s another skill I can learn, just trying to keep the tools actually not even sharpen. But adding more tools and more sharp tools to the quiver. You know, this idea of reading 52 books a year, if, if every realtor read five books here, just five books, in fact, read the five that that Terence recommended, but if they just did that there would be massive change, because all it takes is one or two good ideas. And the fact that you’re doing 52 books a year is going to scale you up even faster with that knowledge. So it’s but it’s also but there’s also a limit to how much time there is so I’m curious on so you talked about time best spent TBS this idea of here’s here’s where I can leverage the the most growth within the shortest amount of time. How and, and I also want to go all the way back to your story of you know, you had to be an become an adult much earlier than a lot of us right because of your situation growing up. That’s not an easy thing for a child to have to have to do or teenager you did it you stayed focused, you achieved you know your your professional goals up until you know, and then your life was a lot of it your physical body was taken away from you really, just because that happens, things happen. And it’s it’s awful. And yet, here you are, you’re walking, you’re you’re you’re in shape, you’re you’re now running these successful businesses. And and but you also said depression is part of my story too. Like, yes, I am not a Superman, like even when you know, your whole career gets taken away. That’s going to put anyone in a massive depression. So I’m curious and wanted to ask about one thing about support group, having a support group. And I don’t mean necessarily a building that you go into and sit in a circle with other people, though, that is a version of that. It could be friends, family could be colleagues, how important is it for you to have people in your life that you can share intimately invulnerable, be vulnerable with and say, Hey, guys, I am going through something right now. I am depressed. And yet I’m still I’m still productive. I’m still getting my life together. But this is going on. And this is real. How important is it to have those relationships? And does that help you through the tougher times?

Terrence Murphy 43:52
Wow, that’s good, bro. Man, this is a really good podcast. If people aren’t listening, they need to rewind this episode. I’m gonna go back and listen to it multiple times. So I think it’s really cool man. You know, the cool thing about it is I tell people all the time. I don’t have a brokerage anymore. I don’t really have a team. I have a tribe. Man and I always say Your vibe attracts your tribe. Yeah, being you the authentic you. Not someone else. Man, like that’s gonna attract the right people, the energy and the realness not fake positivity. Like I don’t want to be in the locker room who’s not going to play a snap walking around hooting and hollering like, just day in and day out. We see tears get up at five in the morning and hit it and we see him at the office and we see him in the weight room or whatever wherever you guys are at and you’re just day in and they are just getting up and doing the work. But when you hit a wall because we all hit a wall, you can be vulnerable to and that’s what a true leader and a true because to me when you are able to be vulnerable with right people. And so that’s why I say, man having the right tribe around you, and protecting that energy. Like we’re at a place now we literally call it the zero tolerance rule. You can bring me any problem in the real estate team or organization, but it better have a solution attached. Because if not, then you’re just complaining. And no one is allowed to bring any negative energy into our space. And if you do, we’re gonna call you out unless you have a solution attached. And just creating an atmosphere like that an ecosystem like that, where there’s a lot of successful people, but and I tell everybody leave your pride at the door. No one can come into this space. And when somebody has feedback to help you have ears to hear, and not just ears to reply, because in so many times, everybody just wants to reply, they’re just ready to say something bad, versus slowing down and truly hearing what the person is saying. And I think that’s what we’re so focused on right now. And in those situations, vulnerability, and authenticity, authenticity, and real conversations, we can have a place where we can say, hey, you know what, DJ, thanks for pushing me a couple of weeks ago, and really getting on my ass. I know I can do better. But now let’s have this conversation. Man, I got a lot going on. Man. This is what I got going on. Yeah,

D.J. Paris 46:22
that’s what yeah, this ability, this ability to be honest, and to be vulnerable is, is really I found very helpful when things get tough. Having people around who who care, and that, that you care about it really helps keep it but you’re right about this idea of problems and solutions. I want to just to go back to that for a second. Because that is you just challenged me because I’m well, I’m like most people, I’m a complainer, of course. And there’s always things to complain about, you know, nothing’s perfect. There’s always, you know, I can complain about myself too, which is also not very helpful. But this idea of complaining is only helpful if you’re like, and I think I can figure out a way around, or I could ask somebody who’s been there before me. You know, like I have, I have a personal trainer, you were talking about about being in the gym with a trainer. It’s like, I have a trainer because I don’t want to hurt myself in the gym. And also, I’m not a professional athlete, and I don’t know what I’m doing. So I’ve had a trainer for I’ll probably have a trainer the rest of my life, honestly. And it’s not. It’s because I need somebody who’s like, Do this, do this, do this. That’s their expertise. I pay them for their expertise, and I get the results. If I tried to do I tried to do it all myself my whole life. I never got to the gym. Rarely went sometimes I go sometimes I didn’t. It wasn’t. It wasn’t just something I was able to do myself. So I had to, I had to find leverage. I had to say, Okay, well, if I want to hire if I need to hire a trainer, I need to make enough money to hire a trainer, which means I need to scale up my business. So I totally understand this idea of looking for solution. And and it’s not always easy solutions are not always well, they’re not always right in front of you. But if you have a good circle of people around, you know, sometimes other people can help you with your solutions, too. And this idea of masterminding, we do this. I do the same thing with brokerages, we mastermind with other brokerages that are kind of similar to us all over the country are like hey, what are you guys doing right now? Like, where are you? Where are you guys struggling? What’s working, just doing that alone has helped I get so many ideas. And I’m sort of shocked that so many real estate agents operate in a silo, they sort of operate in their own little world, they work from home, which I get, they’re not really around other agents and less sort of showing or something. And they don’t often know like, there’s lots of great ideas out there. And all you have to do is connect with other other realtors, what, how important is having, having sort of people that you look up to having idols not idle in the religious sense. But just having people that you respect having people that you know, obviously you’re a reader. And you know, you hung out with Gary Keller for three and a half hours. Like, that’s pretty cool. How important is it for you to get access to these people? And how much time has it saved you by reading something, learning something having a conversation so that you didn’t have to reinvent the wheel? Yeah, I

Terrence Murphy 49:17
think at this point, if you’re a real estate agent, and you don’t have someone who’s achieved what you’ve achieved, because always say it’s one thing to get inspiration, right? Like LeBron James did a dunk the other night. I was like, Wow, that’s awesome. I’m inspired by Yeah, but how is that actually helping me, right? So the one thing I’ve tried to become is I don’t want to just be an inspiration to anybody anymore. I want to be an inspiration that inspires you. But then I want to give you the breadcrumbs and the tools and the roadmap to go achieve the success that you want to achieve. So that other piece of puzzle is what I’m building out right now. To truly give people the tools. So now they’re inspired, but then I sell and then I’m inspired but now I plug in. Boom. And then I think That’s been the great thing. Now, because of running an independent brokerage, you kind of feel like you’re on an island somewhere now, like, you know, that was the thing. I remember going to Cabo my first exp event, and it says, making real estate fun again. And I get there. And every step I took, I knew a broker from being an independent broker, I just didn’t know they were at exp. So like, every step, I took them, like, Whoa, you’re here, you’re like a class reunion. I’m like, Oh, this is cool. And so yeah, it’s just been one of those things where, you know, when you get to a place where everybody is successful, it’s like flying with the Eagles. No one’s really like, forwarding the information. They’re not like trying to hold back, they’re just free with it. And then it creates that atmosphere. So I love kind of being in that atmosphere where we’re all gonna succeed. But it’s like, alright, let’s just put all of our tools in the middle of the table, and then you grab out of what you want to grab on. And then like, you know, like a potluck, right?

D.J. Paris 50:58
Absolutely, like a potluck. And you’re a competitive guy, but I suspect you don’t view any other realtors or brokerages as competition at all. I suspect you won’t. You said this earlier, I compete with myself, I want to be the best version of me. Obviously, you’re paying attention to what other firms are doing, of course, because why wouldn’t you? And you want to keep you know, introducing, you know, more and more skills and you know, different avenues of verticals to your business. But you’re not you don’t see the other agencies as as competitors,

Terrence Murphy 51:30
I’m guessing. No, not really, because my value proposition is so unique. You know, I’m teaching real estate agents how to create multiple income streams. I’m teaching them how to build other businesses, I’m teaching them how to invest. You know, I just closed a $45 million apartment 240 units a couple of weeks ago. So I’m doing stuff where I can show these guys and I started off my first investment was 270 $5,000 duplexes. So you can scale that’s why I say I went from that 10 years ago to a 40 $50 million deal. $70 million deal, the 50 million. There’s, there’s just following a system and the process and the breadcrumbs. But like at exp they rank, they rank, the personal attractors, and out of 87,000 agents, and I’ve been at exp now 16 months, I’m number 30. I’m in the top 30. Already, it’s been some people have been there 12 or 13 years or longer. And in the first year and a half or under two years, I’m already in the top 30 Personal attractors. But I don’t really get caught up in being anybody else other than myself. And any goal that I set, it’s gonna be well beyond any what anybody can write down for me anyway.

D.J. Paris 52:33
Yeah, yeah, you’re gonna hold yourself to a higher standard than anyone else could. And I suspect that is a huge reason. You just embrace your standards, your standards are up here. And they didn’t start up here necessarily. They start where everyone starts, and you just kept inching your way up to where you’re like, hey, I can run multiple things at the same time by scaling to two final questions for you. And then I’ll let you get back to running your empire and I do I do consider it an empire because I don’t say that as as just a nice thing to say, although it is like so nice thing to say. But it’s really true. I mean, you’re doing a lot of different things successfully. Which any one of those things is difficult and the fact that you do them all simultaneously with with a lot of help, of course, is is just truly remarkable. Two questions one is every every agent I know again, focused on on the present in the near future is freaking out about 2023 Right we’re like okay, rates are where they are. This is This is bad. Now I’m not I’m not saying it’s bad. I’m saying this is this is what the mentality is a lot of fear, a lot of anxiety, a lot of sort of parent paralyzed agents going i Oh, next year, it’s gonna really be rough. What are you telling? What are you coaching your agents to think about? Because we can’t control rates? We can’t control inventory, we just can’t. But there are things that are within our control. What are what are you telling people to do to focus to have a successful 2023?

Terrence Murphy 54:03
Yeah, it’s really cool. Like I said, I’m an I’m an enigma man, people can’t figure me out. I’m just, you know, I got my real estate license in the middle of the downturn in investment company in 2008. So the worst

D.J. Paris 54:17
time to start an investment company and we’ve did it

Terrence Murphy 54:20
the worst, especially and start a brokerage. So I look at this just like Warren Buffett says, he says real estate recession or stock market downturn or what is

D.J. Paris 54:34
recession proof?

Terrence Murphy 54:35
Yeah, well, the real estate market not a bear market, but a bull market. Bull Market There we go. Sorry, I couldn’t get it out. He says it’s the only time that when something’s on sale, people don’t run to buy I know it’s funny you know what I mean? So like but if it’s a First Friday or what is it Black Friday, you can’t even you get trampled get. So I tell people, you got to switch the mindset and they always start With the mindset, right when I win everything, and that’s what I’m always evaluating is my mindset where it needs to be in order for me to go to that next level, because you can have all the processes you want. But if you don’t have the mindset to receive, going to a billion dollars in sales, or having 500 people in your organization, or whatever it is, it’s not going to be sustainable. You may get there, but you’re gonna go backwards. So what I’m telling my real estate agents, is look at the opportunity that’s in here, study your own hyperlocal market. Is it Arios? Is it new builders, because builders were fine when they were getting 18 offers, but now their agents might have gotten lazy, but they have to still keep selling houses. I picked up five builders in the 2012 13 range, just because I was doing what their agents had gotten tired of doing. Man, I started having these builders hired me, man, that’s when I started scaling, do you get 40 houses per builder or 20? Houses 30 houses? And so you just got to think about looking at your hyperlocal market and find those opportunities? Is it expired? Is it orphan listings, right? An orphan listings, just to listen to goes past 90 days, it’s been expired, people have forgotten about it, you know, and then you just create a value proposition to second to none. And you pick up that market share, because the market share is not going away. It’s just going to trade hands. So if we have the hunter mentality, that we’re gonna go hunt, and we’re gonna go create a value proposition is second to none. And a brand is second to none. That’s when we will take that market share, and it’s just a mentality shift. Right.

D.J. Paris 56:30
And last year, you’re not worried about 2023 at all, you’re just pivoting, pivoting, pivoting. And I only wanted to say that because you’re the only person I’ve talked to thus far, who is like not legitimately freaked out? And I think what you said made absolute perfect sense. Yes, we’ll just change well, we’ll look over here as opposed to over here. And we’ll make it work. I’m sorry. Go ahead.

Terrence Murphy 56:55
No, you hit it on the head, you picked up on it, because truth stands the test of time when you hit true. Well, there it is. Right, like, Whoa, there it is. And so I think once again, when people resonate with my message is because it’s not a woe is me. It’s not I’m scared, I don’t operate out of fear. I operate out of solutions. And at the end of the day, I’m going excited to be truthfully honest, I think there’s a lot of people who have not been coached, right. And when they realize they need the right coaching, they’re going to come to people like me, and I’m going to give them the confidence and the tools to be a competent agent, I call it the three seeds. Competence creates confidence. But if you got an industry in 16 1718, whatever, and you’re getting 17 offers, you never really sat down and created the competence. But now you gotta go create the competence.

D.J. Paris 57:48
Yeah, and nobody likes a confident person who isn’t competent. In fact, we all laugh at those people, we dislike them. Confidence needs to be earned through competence. And I think I think so here’s my last question. My final question. And this is this will be a tough a tougher one, maybe, or maybe not. I, what would you say, to your 22 year old self, or 23 year old self, you know, as you’re exiting your your football career? What do you wish you would have known then that you didn’t know but you but you do know now?

Terrence Murphy 58:22
Think even bigger than I thought. And I was a pretty big dreamer and think, yeah, you’re

D.J. Paris 58:28
already a big thinker. And yet you’re thinking too small back then is what you’re saying?

Terrence Murphy 58:32
Yeah, I remember hitting them came to me going my junior year. And I remember them talking to my parents about a Heisman campaign. Like I was really playing that well, at the time, Reggie Bush was doing really well. And Darren Sproles, and if you look at our numbers, my numbers are just as good as some of his numbers. He was winning the Heisman. And I remember hitting him was talking about at some point coming to my parents about Heisman campaign, and in my mind, I was like me, Heisman winner receiver at Texas a&m. And so I still beat myself up about that, because I’m like, You shouldn’t accept that. And be like, Yes, I am. I am a Heisman. I can’t be one of the I am one of the best players in the nation. And those of us those moments in life that I pull on now or now when I think about an idea of like, it’s possible. And whatever it is five exit in your mind and then go for that.

D.J. Paris 59:23
Well, it’s, it’s, it’s, it’s as simple as that as not, it’s not easy, but it’s simple, right? Like, I guess that’s the point. It’s hard but simple. This idea of being able to, to think bigger, allows you it expands your capability. Right? It’s it’s a it’s a simple idea, think bigger, and then then the hard work comes in of trying to figure out a way through it, but you’re absolutely right. We are and we all know this. We’re limited by our beliefs. You know that there’s that old joke of like, what is BS stands for belief systems because it is it is Whatever. It’s an old joke, but But it’s true. We’re all wrapped up in our own BS our own belief systems. And when then you meet somebody like you who’s who seemingly doing things outside of what we believe is capable, but you’ve been doing that your whole life. And so you have this track record of like, oh, yeah, I got paralyzed. Yeah, that was it. I mean, I got through it. First, you know, I got into, you know, I got into college, I got into, you know, playing a pro sports, you did all the things that were already impossible. So I imagine when challenges come your way, it probably doesn’t decimate you like maybe it would somebody who hasn’t had some of those, those challenges along the way. One final question, how important is failure? And what I mean failure, I don’t mean, you know, I just mean not achieving the goal you set out for and how important because I have I have I have a theory, or at least I’ve talked to a lot of agents who say they love failure, because most of the things they do don’t end up working out. But it just takes, it just carries them over to the next thing that eventually gets them closer to working out. So how often you seem like a guy who never fails at anything. I would love to know, what role does failure play in your life? And how do you think about failure?

Terrence Murphy 1:01:14
Man, it’s a good question. It’s a great final question. I think as I think about failure, I always say it’s wins and lessons. There are no wins and losses. It’s only a loss if you quit. Yep. So I mean, they’re gonna win. I’m a learning lesson. Yeah, I’m only win and I’m gonna lose if I quit. And so as long as you keep going, there was a Martin Luther King quote, I know I’m gonna butcher it but he says, If you can’t fly, then run if you can’t run then walk. If you can’t walk then crawl. But by all means, keep going. There Yeah,

D.J. Paris 1:01:52
it boy, I’m not going to do better than Dr. Martin Luther King. So I’m gonna leave it there. One of the greatest thinkers of all time and you perfectly summed some that up I think that’s absolutely right. And also the scoreboard of life or on the field is is only the scoreboard it even if you’re victorious, it doesn’t necessarily mean you played your best right? And I’m sure you probably had games where you lost but you played your best and yes, it’s it’s no fun to lose. But to know that I did my best is is really all that ever really ultimately matters or at least in my opinion, that’s what I found is that you know, you can you could win on the scoreboard but if you didn’t play your best you just don’t feel that good about that victory. Right? So this idea of of of showing up like you’ve said, be your best self I know it’s said a lot in our society, but actually measuring what does it mean to be at my best, what does that actually look like? Boy, Terrance, you gave so much great wisdom on this episode, I need to get you back to where you need to get back to running your empire and I have taken up too much of your time. So thank you for spending as much time on our show talking to our A took not our agents, but our listeners who are agents about what it takes to be successful. Anyone wants to jump aboard the Terrance Murphy train. And you know what if you’re gonna hit your your, your horse to a wagon, it’s a pretty good wagon to hitch to check out all the stuff he does, because he is incredible, and an amazing guy and just a just a great, great guy. So check out Terrence murphy.com. Everything Terrence related is on there, you can learn about his coaching, you can learn about his brokerage, you can learn about his podcast, and of course, his story along the way and all the entrepreneurial efforts he is involved in. And if you’re an agent looking to you know, get coached by somebody, boy Terrence would be right at the top of my list. So definitely check him out Terrence murphy.com. Again, that’s t e r r e n c e murphy.com. Also follow him on Instagram, which is Terrence realtor. So at Terrence realtor, we’ll have links to all of that in our show notes. And Terence, I am super so, so grateful to you for coming on our show. I know our audience got a lot of value out of this. So on behalf of the audience, we thank you. We know how busy you are. We know you don’t have time to do this. And yet you found time for us. Thank you. On behalf of Terence and myself, we also want to thank the audience for continuing to support our show to make it all the way to the end. And we ask everybody to just do one thing. Once you after you visit Terrence Murphy’s website Terrence murphy.com. Tell a friend about this episode. Just tell one other real estate agent about this episode, maybe somebody who’s struggling or maybe somebody that’s looking for the some sort of answer or suggestion to help get them through the end of this year and into next year and shoot them a link over to our website, keeping it real pod.com Every one of our episodes can be streamed there or just anywhere you can find podcasts. We are there as well. Also subscribe to Terrance pod Terrance his podcast real estate entrepreneur with Terence Murphy link to that in the show notes Terrance thank you sir you are an inspiration. I am grateful to you for coming on our show. You are The busiest man I know and you made time for us and so thank you. And we will see everybody on the next episode. Thanks,

Terrence Murphy 1:05:07
Terrance. Appreciate you brother. I’m here if you need me on anything, man, God bless everybody keep your hands up, keep pushing, and the scorecard is measuring how many people you can impact in a positive way. Thanks, bro.