This year, for the first time ever, I went to the Berkshire Hathaway Annual Meeting AKA Woodstock for Investors AKA Coachella for Capitalists. Warren Buffett is by far, the world's most successful investor, and I was keen to hear what he had to say about the economy, his investing strategy and his mindset in the wake of the death of his business partner, Charlie Munger. As usual, Warren had a lot of insightful things to say - things that I’ve been thinking about in my own business and my approach to building wealth. Berkshire Hathaway has made a few surprising moves over the last year, but hearing Warren Buffett talk about the governing strategy, a whole lot made sense. Today, I share the most powerful lessons I took away from the meeting and how we can apply them to our own businesses. Key Points  The right way to evaluate a stock Look at stocks as a business and realize that the market is there to serve you, not to inform you. When Warren Buffett is evaluating whether or not to buy stock in a company, he's evaluating it the same way he would if he was buying the whole company. Whether you're buying a piece of a company or the whole thing, you should be evaluating the decision the same way. The market tells you when it’s a good time to buy or sell, and you should follow that. If you don’t listen to what the stock is saying, you're going to make a lot of mistakes. It's interesting how many mistakes you can make if you just keep goingIf you're in business, mistakes will always be part of the game. If you're not making mistakes, you're probably not doing a lot of things. If you're intelligent and reflective, you'll learn from those mistakes.Do what moves the needle With the recent passing of Charlie Munger, Warren Buffett has been thinking about what happens to the company when he passes away. He provided a simple but powerful blueprint for Berkshire's management team after he's gone - increase operating earnings, decrease shares outstanding and have a sizable cash investment for the occasional big opportunity. Cash is king There was a lot of buzz around Berkshire selling some of its holdings in Apple. Warren Buffett said his approach is all about reducing tax and increasing cash. It all goes back to the succession plan - having a sizable amount of cash so they could make an investment when there's a great opportunity. This is how I read deeper into this: Warren Buffett doesn't foresee things getting a whole lot better in the economy, and he foresees some more sales or good deals being available over the next 2 years.Look for good deals, not just any deal When asked why Berkshire Hathaway’s cash hasn’t been invested, Buffett said, “I don't think anyone sitting at this table has any idea how to use it effectively, and therefore, we don't use it”. He then added, “we only swing at pitches we like”. If you’re sitting on a lot of cash, knowing where to put it is a big question and it's really easy to get antsy when you want to put the money to work. But when the world's most successful investor says “we only swing at pitches we like”, it's a good reminder to stay patient and look for great deals instead of just putting cash into any deal that comes your way. Navigating the noise The world that we live in is full of noise 24/7. When you go on social media, watch the news and read the economic reports, it’s hard to make sense of all the information coming your way as an investor. Warren Buffett’s insights and approaches are very simple. They cut right through the noise. This is not to say that none of the noise matters, but the key to investing is focusing on the things that matter the most. CTA​​Please leave us a review at https://ratethispodcast.com/nla

There are a lot of stupid people who have been massively successful in real estate. This isn’t an insult, just the reality of how uncomplicated it can be to build a beautiful business. But if you lack in intelligence, there are a few things you can’t lack if you want to succeed. You can’t be impatient, inconsistent, undisciplined and undetermined. There’s a reason why the most successful agents came up in the toughest markets. It forces you to do all the right things in order to survive and live to sell another home. It forces you to pay attention, become a true student of the industry instead of burying your head in the sand or being stuck in your ivory tower. When you’ve learned how to do things the right way, it doesn’t matter what’s going on, you’ll always win. High inventory, low inventory, great rates or challenging rates, it doesn’t matter. If you have the right behaviors in place, your business will be market-proof. Today, I’m joined by real estate industry leader, Dave Fanale. We talk about what it takes to survive and thrive in this businessQuotes Never put your head in the sand, no matter how successful you are, never sit in the ivory tower. -Kevin Kauffman  Don’t go after the business with the money in mind. See how you can help people and the money will follow. -Dave Fanale Don’t listen to someone on Instagram just because they have Reels that look good. Actually look at the fruit of their labor. There’s too many people out there that sound like experts but don’t have any results to speak of. -Kevin Kauffman Guest InfoDave Fanale is the founder of Real Estate Skill Builder, a new type of coaching company. Focusing on accountability, production, and focus. He has been in the real estate business his entire professional life, spanning actually 6 decades. David has experienced many different markets, from 20% interest rates to the mortgage crisis to the 2022 Shift. Dave’s real estate career has included Realtor, Property Manager, Leasing Manager, Home Builder, Mixed Use Property Developer/Builder/Designer, Developer, Broker/Owner of a Century 21 Franchise Company and Real Estate Coach.  Dave believes the most important thing a real estate agent has to have is adaptability. He has helped many agents build businesses as well as reinvent themselves over the years. Go to https://www.reskillbuilder.com for more information and subscribe to the RET YouTube channel. CTA​​Please leave us a review at https://ratethispodcast.com/nla

Real estate professional Ben Riehle debunks the myth of institutional buyers killing real estate, emphasizing the opportunities they present. He highlights the value of local knowledge for agents, the growth of single-family rentals, and the potential for agents to expand into asset management. Ben discusses the benefits of working with institutional clients, adapting to industry trends, and providing specialized services for greater success in real estate.

Whatever industry you’re in, marketing is something we all have to worry about. It’s our job to deliver eyeballs to whatever it is we have to offer. The challenge is, the rules of marketing and the platforms that can get us traffic are constantly changing, it’s hard to predict what will work in a few months. What we have to be aware of is that people are using these marketing platforms to do their due diligence before they even think of hiring us. We have to be authentic and tell a story that connects because that attracts the right clients and repels the wrong ones. As much as we use marketing to connect with people and build a relationship, we have to take the emotion out of it. To succeed at the marketing game, you have to focus on the math - the numbers and the dollars behind the strategy. If we get too emotionally invested, it can be hard for us to make the shifts and pivots that give us the results we want. What are the critical boxes our marketing content has to check? How do we succeed when the marketing landscape is always shifting? In this episode, I’m joined by CEO and Founder of Ezzey Digital Marketing, Michael Hamburger. He talks about the mentality we need to have about marketing, and how working in MLMs prepared him for the industry. Quotes Be who you are at all times, whether you’re on camera or not. -Kevin Kauffman  Try to remove all the emotion from the marketing side of things when it’s decision making time. Make it about math. -Michael Hamburger You have to be authentic to who you are, inauthenticity has a stench people can sniff out real quick. -Michael Hamburger Guest InfoMichael Hamburger is the CEO and Founder of Ezzey Digital Marketing. He’s dedicated over 20 years to innovating the field of digital marketing. Ezzey Digital Marketing, based in Scottsdale, AZ, is renowned for crafting bespoke digital strategies that drive search engine rankings, generate leads, and amplify revenue across diverse sectors. At Ezzey, they take pride in being a mainstay of full-service marketing. Their forward-thinking solutions enable businesses to excel in the complex and competitive digital environment. Beyond these services, Michale also indulges his passion for coaching and training business owners, corporate leaders, entrepreneurs, and sales teams. Empowering others with tools and insights to navigate the digital age is a mission close to his heart. Go to https://ezzey.com/ for more information and follow Michael on Instagram. CTA​​Please leave us a review at https://ratethispodcast.com/nla

There’s a reason people keep gambling even though we know the house always wins. There’s a reason we compulsively open apps on our phone without realizing it. Human beings are prone to falling into the trap of behaviors that feel good in the short term but hurt us in the long-term. It’s the scarcity loop, and some of the ways our world has changed make it easier for us to get caught up in it. From food to slot machines and social media, there are whole industries pouring billions into keeping us stuck in the loop. In order to escape the trap, we have to embrace short-term discomfort in different ways so we can live better and healthier lives. The good news is, the scarcity loop can be leveraged to work another way - to get us to install and maintain positive habits. Sneaking the broccoli into the Mac and Cheese, if you will. We’re naturally attracted to the scarcity loop. If we can find a way to leverage it for good, that’s the ultimate hack for doing the right things. Why can't we escape the things that are bad for us? What can we learn from other parts of the world about doing what’s good for us? In today’s Book Club, we’re joined by speaker, professor, and New York Times bestselling author of Scarcity Brain, Michael Easter. He talks about the book, the research that inspired it and interesting insights about habits - good and bad. The faster and easier you repeat a behavior that’s rewarding to you, the more likely you are to keep repeating it. -Michael EasterUse the scarcity loop to your advantage There are 3 parts to the scarcity loop - the opportunity, the unpredictable reward (with a crazy range of outcomes) and repeatability. Once we know what’s going on, we can leverage this loop for our benefit. Humans are naturally attracted to the scarcity loop. If you can find a way to leverage it for good, that’s the ultimate hack for falling into a positive habit. One way we can turn the scarcity loop on its head is to slow down the repeatable behaviors. With phones and apps you use too much, you can use an app like Clearspace to delay the gratification we get from them. Research has even found that having grayscale on your phone reduces your screen time by 40 minutes because colors direct behavior. Don’t underestimate the insights of experienceIt’s easy to do research on the internet but if you’re researching everything that means someone else already figured that thing out too. Experience is one of the greatest teachers that can lead you to experiences that aren’t already out there. The truth about happiness There’s no perfect path to happiness, though it often gets communicated to us that there’s a formula. The commonalities happy people have is they figure out what brings them deeper satisfaction, they focus beyond the worldly trappings like possessions, titles and money in the bank. They also have a bigger reason and higher purpose that will help other people. The promise but also the peril of living is you have to find that path for you. Guest InfoMichael Easter is a speaker, professor, and New York Times bestselling author of Scarcity Brain and The Comfort Crisis. He has made a career of traveling the world to uncover practical ideas that help people live healthier, happier, and more remarkable lives. Michael’s research has taken him everywhere – from war zones to the Arctic to the Bolivian jungle. He’s interviewed thousands of experts, from Nobel laureates to world-class athletes, and pored over countless studies to find the best science-backed tactics you can use to optimize your life. His goal has always been to take these insights from the edge and make them accessible and actionable for readers. Go to https://eastermichael.com/ and sign up for The 2% Newsletter.  CTA​​Please leave us a review at https://ratethispodcast.com/nla

A real estate transaction isn’t just a financial process, it’s an emotional one too. And we’re not just talking about the emotions of the seller and the buyer on the other side. From loan officers and appraisers to inspectors and other agents, there can be up to 35 people involved in every real estate sale, and all of them have their own emotions. That’s why emotional intelligence has to be part of the skillset we bring to the table as agents. Our success is directly connected to our ability to manage our emotions and the emotions of everyone involved. It eliminates issues before they arise, allows you to be a better problem solver, and ultimately makes for a smoother (even enjoyable) path to the close. How do we increase our emotional intelligence and how can we apply it to the transaction more effectively? Today, Houston top producer, Nina Patel shares the power of adding a high EQ to your toolbox as a real estate professional. Key Points  EQ starts with youBefore you can begin to manage the emotions of the people around you, you have to get good at managing your own. There are many ways to heighten our own EQ, but self-reflection and self-awareness are non-negotiable. The better we get at those two, the more intune we become with the emotions of others.EQ gives you foresightEmotional intelligence elevates the client’s experience and makes it way more enjoyable because you can anticipate issues and deal with them in advance. It empowers you with foresight on what could go wrong so that you are proactive instead of reactive. Become an active listener When we meet people, it’s easy to talk about ourselves in an effort to convey our expertise and credibility and accolades. The problem is, the more we talk, the less we’re actually listening for what our clients need. Allow people to speak and listen actively, not just to what they are saying, but what they aren’t saying. This allows you to create the right solution for them, instead of throwing out your value proposition to see what will stick. Use silence to your advantageMany people believe silence is awkward, but it can actually be advantageous. It allows people to process what’s being said mentally and emotionally, so they respond instead of react. In a negotiation, silence shows confidence and strength in the position you’ve taken, which can be huge in setting your client up for success. Emotional intelligence makes you a better problem solverAs agents, we’re constantly solving problems, no matter how many deals we’ve done. With EQ, you can look at things objectively, and see them from a higher perspective which allows us to see all the available options. Instead of being myopic in your decision making, you instantly open up more avenues of solutions. A key part of EQ is the ability to step away so that you can get that higher perspective. When you offer clients options, they feel more in control of the decision they are about to make which boosts their experience. Guest InfoAs a top-producing agent, Nina Patel has earned accolades for her outstanding performance, including the prestigious Icon Award and Top 250 Teams at eXp in just 7 months of joining eXp. But Nina’s expertise goes beyond selling homes. She’s also a certified yoga and meditation teacher, incorporating mindfulness into her daily life and professional practice. This unique blend has honed her emotional intelligence, enabling her to connect deeply with buyers and sellers, understand their needs, and guide them through the real estate journey with empathy and grace. Her approach with real estate has always been to connect authentically and create a joyful memorable real estate experience for her clients. Follow @ninaandneel on Instagram or call or 281-773-5372CTA​​Please leave us a review at https://ratethispodcast.com/nla

There are two sides to growth, achievement and success - strategies and tactics as well as mindset and self-work. You can know what to do, but not be emotionally, mentally and spiritually prepared for it. This is why the real conduit to business growth is knowing yourself and what makes you tick. The problem is: people tend to camp out on one or the other, overly focusing on the tactics or overly focusing on mindset. In order to really take off, we have to marry the two sides and work on them simultaneously. It’s often easier to focus on the strategy side of things, because the term “inner work” can be daunting, but it doesn’t have to be. Ultimately, we all have things that get in the way of how we show up in the world. Becoming aware of these areas and working on them is what will drive growth in every corner of our lives. That’s why Lindsay Fricks created Legacy Agents - a container that combines the tactical strategies with the inner work piece. She discovered that growth, setting boundaries with clients and getting the right opportunities was easy once she worked on herself. Today she shares her journey and how she’s paying it forward with her new book. Quotes Setting boundaries and learning yourself and what makes you tick is the best thing you can do for growing your business. -Lindsay FricksYou can wire your brain for the success you’re looking for, but it’s the beliefs that drive the thoughts which then drive the action which drives the results. -Lindsay Fricks Key Points  The truth about this business Coming into real estate with a nest egg is one key factor that set Lindsay up for early success. A lot of people come in without the stability of a good runway and that’s why they struggle. They have a lack of financial finesse because they got into this thinking it’s just about selling houses. You are, in fact, a small business owner and a CEO, being a Realtor is just a job within the business. Friends with professional benefits When Angela came into this industry, she had no database to speak of. So she did 100 open houses in a year! That allowed her to build a ton of relationships, but she still has a standard of who she’s going to work with. Because she talks to so many people, she’s able to be more selective about clients, and create friendships that happen to have a business component. Self-work and business growth go hand-in-hand You can only grow your business to the extent that you’re physically, emotionally, mentally and spiritually prepared for it. It’s not enough to be around the right people or do the right strategies. Until you figure out who you are, what makes you tick, and why you do things, you’ll never be able to grow your business because you’re trying to do what someone else is doing.  The ultimate power of self-work You can wire your brain for the success that you’re looking for, but the beliefs drive the thoughts which then drive the action, which drives the results. It’s about closing the gap between who you are inside and who you show up as to the world. Once you do that, you radiate at a magnetic level where you just end up calling in the right people and opportunities. Guest InfoLindsay Fricks is an Arizona Realtor, Agent Success Coach, founder of Legacy Agents and author of Becoming a Legacy Agent.  Legacy Agents provides hands-on, practical guidance on navigating the complex world of entrepreneurship and real estate investment. Whether you have been in the industry since you stepped out of the womb, or you’re just starting, their mastermind and workshops are tailored to meet you at your unique stage, providing you with the tools and strategies to reach new levels of success. For more information follow @lindsay.fricks and @legacy.agents on Instagram. -------------------------------------------------CTA​​Please leave us a review at https://ratethispodcast.com/nla

Nikki Miller, a solo agent turned industry innovator, shares her journey of creating a platform, LEAD Syndicate, to help solo agents thrive without traditional team structures. She emphasizes the importance of serving individual agents in the real estate industry and how new ideas based on personal challenges can lead to success. The podcast explores the themes of innovation, client-centric approach, consistency, and embracing individual strengths for business growth.

Discover the dangers of lacking discipline, over-optimism, boredom, and impatience in your business. Learn how success requires consistency and patience, even when things are going well. Hear personal anecdotes and insights on how to navigate these challenges to avoid setbacks.

Real estate expert Noah George discusses the importance of growing your agent count to increase transactions. He highlights the difference between building a business vs. just selling houses, emphasizing the need for leverage through people. Noah also shares tips on lead generation for recruiting and treating agents like valuable assets.