093: Investing in Real Estate is More than the Purchase with John LeTourneau
Center for REALTOR® Development
Release Date: 12/05/2023
108: Center for REALTOR® Development 108: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 1
Center for REALTOR® Development
Today’s topic is so essential: negotiation! It has always been important. As our markets have been shifting and industry changes are happening, we need to go back to remembering the basic and core tenets of good negotiation while also understanding the nuanced parts of that shift within the market and the specific needs of our clients. My guest today, Evan Fuchs, is a 28-year award-winning REALTOR® and industry leader from Bullhead City, Arizona. Negotiation is one of those topics we need to learn about all the time. Unless you’re writing a book on...
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107: Center for REALTOR® Development 107: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 2
Center for REALTOR® Development
We are in Part 2 of my conversation with Dan Weisman about AI in the real estate industry. Dan is a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes what this tech may mean in the future, and builds relationships with tech leaders to better understand and drive innovation in the real estate space. This episode is where we get practical, starting with using generative AI instead of Google for searches. How would that help you? What...
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106: Center for REALTOR® Development 106: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 1
Center for REALTOR® Development
Today, we will talk about AI in the real estate industry with Dan Weisman, a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes on what this tech may mean in the future, and builds relationships with tech leaders to understand better and drive innovation in the real estate space. He is in the thick of thought leadership, creating new things for us. I asked him how I, as an agent, could personally use AI to help me in my business....
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105: Center for REALTOR® Development 105: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 2
Center for REALTOR® Development
Today we have Ali Whitley and her son Martin Whitley back with us for Episode 2, where we discuss generational dynamics in the workplace and with our clients. Martin tells us more about his journey and how he decided he needed the specific house he purchased. There might be a pet involved! We discuss how it is a discouraging time for first-time home buyers, but there are ways you can get into the market. These two episodes are great to share with your clients! We are talking to REALTORS®, but this conversation is great for giving hope to potential buyers...
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104: Center for REALTOR® Development 104: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 1
Center for REALTOR® Development
People are all different. With an open attitude on our part, they are a constant source of opportunity for education, and learning. I love learning from other people. One of my favorite topics over the last 10 years or more has been about generations. I’ve been learning and teaching about how people of different generations act and react since I began teaching the Senior Real Estate Specialist course in 2009. While stereotyping people is never good as a general rule, there are some things we can learn from studying cultural differences and commonalities within a group. My guests this month,...
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103: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 2
Center for REALTOR® Development
Here we are, back with Trenesha Harrison, for Episode 2 on New Construction. In our first episode, we discussed new construction from the perspective of the on-site agent, which is how Trenesha started in real estate. In this episode, we’ll discuss how to help you be more prepared as a buyers’ agent, bringing your buyer to the new home community. The two episodes go together, so we suggest you listen to both. Trenesha lives in Oklahoma City, Oklahoma, and she loves new construction because it’s always changing; it’s always different, and there’s so much that we can learn from...
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102: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 1
Center for REALTOR® Development
I love to be able to participate with my buyer clients when they want to buy new construction. I have bought two new homes, and I love the process of choosing what I want, watching it get built, then knowing how it was built, and having time to make a plan for the move. It’s not for everyone but it is a great option for a lot of people, and it is generally a bit more reliable than what we encounter with resale purchases; not always, but generally. Not all agents feel comfortable selling new construction, though. My guest this month, Trenesha Harrison, and I are going to help you see the...
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101: Explaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 2
Center for REALTOR® Development
In Part 1 with Brent Lancaster, we started the conversation about the Buyer Agreement and it’s a timely conversation. We recorded this before the proposed settlement from NAR was released. While the settlement is still proposed, and it’s not final, one of the key points in it is the importance of a signed agreement with our buyers. There are details to be clarified but it seems this topic is even more relevant than before we recorded it. This agreement with buyers to work together and get paid for the work you do is crucial for us. Brent owns a school and teaches CE classes in many...
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100: Explaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 1
Center for REALTOR® Development
Please Note: Effective August 17, 2024, all MLS Participants working with a buyer are required to obtain a written buyer agreement before touring a home. For details about this and other practice changes, please visit facts.realtor. This is our 100th episode — 100 great episodes with so many amazing people who volunteered their time to help you be the best agent you can be! So many helpful topics for your business! Who has been with me on the whole journey, even if you missed a few? If you see me out on the road at Midyear, Annual, or in a class, greet me and tell me what your favorite...
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099: Navigating Client Conversations: Communicate Your Value with Confidence and Clarity with Lynn Madison: Part 2
Center for REALTOR® Development
Please Note: Since the recording of this episode, NAR entered into a proposed settlement agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. To learn more, and to prepare for the practice changes taking effect August 17, 2024, go to . Welcome to Part 2 of my conversation with Lynn Madison! Today we are talking about different business models. As you refresh your presentation of what you do and what you charge, we want you maybe to consider some other options or, at least, some other parts of the business and we also want...
info_outlineThis episode’s guest is John LeTourneau. Our topic is real estate investing. The Center for REALTOR® Development has a course that teaches this: Real Estate Investing: Building Wealth: Representing Investors and Becoming One Yourself. There is so much opportunity for you, our listeners, in this area. John is just opening the door of what’s possible. Let’s find out more.
[2:42] John became a broker and a REALTOR® in 2005.
[4:11] John started in residential but preferred B2B, so he worked as a non-REALTOR® commercial broker for several years at a large commercial firm. John shares a prospecting story.
[6:50] John does volunteer work for his local, state, and national associations and public speaking and education in the U.S. and internationally. Every hour he gives comes back 10 or 20 times in satisfaction, wisdom, and knowledge.
[10:23] In commercial real estate, you are a product specialist and territorial generalist, or a territorial specialist and product generalist. John’s license allows these transactions: listing property, buying property, working with landlords, and working with tenants.
[11:22] John wants to reach the person who can spin off all four activities: a real estate investor. John can build a team and an income stream with that person.
[12:11] John’s specialty is helping people build multi-generational wealth through investment real estate. Through his connections, he can tap into local market resources around the country and find local knowledge.
[12:44] The IRS has a passive loss rule for full-time real estate professionals. Full-time real estate professionals can lose money on real estate. John describes additional tax advantages only for full-time real estate professionals.
[17:52] Your day-to-day brokerage activity will rarely be enough for you to retire. Start building sources of passive income. Figure out what it costs you to live every day and every year. That’s your freedom number!
[20:14] John believes that real estate, with its market advantages, in concert with a diversified portfolio of other things, is a phenomenal way to hit your freedom number.
[24:04] John’s real estate investment advice. In most cases, single-family homes are among the worst investments you can make. You have a lot of risk buttoned up in one tenant in your expensive property.
[31:33] John explains straight-line depreciation. When your rental cash flow surpasses the depreciation, it is a good time to sell. If the home is expensive, you can see if it qualifies for accelerated depreciation or cost segregation.
[36:41] Article 11 says you should not offer specialized services unless you have the skill set to do it. Refer it out or partner up with someone with that skill. Don’t put your commission ahead of your client.
[39:03] John shares some NAR statistics about the time and cost of a residential real estate transaction in the United States.
[39:26] Getting a lead and making a referral of it in about 30 minutes and getting a referral percentage, is the best hourly rate you can make anywhere in the world.
[40:41] John describes a cycle of investments starting with residential, into industrial, then long-term net leases.
[43:14] The generational shift of wealth is where we as real estate professionals can consult in a great way.
[49:43] To get into commercial, coming from residential, the top-fourth of your database is in top positions in their businesses to give you referrals.
[50:27] John reviews the demographics of residential real estate agents contrasted with commercial real estate brokers.
[53:30] Spending time in commercial will limit the time you spend in residential, so your residential income will decrease before you see income from commercial real estate. If you partner with a local mentor, you can get business quickly.
[55:50] Invest early, invest often. Don’t be the broker who dies broke. Please take advantage of all the things you have and invest in real estate. Build multi-generational wealth. The world’s in front of you!
Tweetables:
“In commercial, you’re either going to be a product specialist and a territorial generalist, …. or you’re going to be a territorial specialist and a product generalist.” — John LeTourneau
“What does my license allow me to do? My license allows me to represent four basic transactions: listing property, buying property, working with landlords, or working with tenants. So, there are four primary ways to monetize my license.” — John LeTourneau
“The number one indicator of success in commercial real estate is your ability and willingness to prospect consistently with people you don’t know.” — John LeTourneau
“Invest early, invest often. Don’t be the broker who dies broke. Please take advantage of all the things you have and invest in real estate. … Build multi-generational wealth.” — John LeTourneau
Guest Links:
John LeTourneau on LinkedIn
Book recommendation: The Psychology of Money, by Morgan Housel
NAR Resource Links
NAR.realtor/technology
Real Estate Investing (REI)
CRD Episode 057: Financial Planners, Insurance, and REALTORS® with Rich Arzaga
Additional Links:
Microcourses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any microcourse!
Learning.REALTOR — for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
CRD.REALTOR — List of all courses offered
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTOR®
Monica’s Facebook Page
Instagram.com/MonicaNeubauerSpeaks
Guest Bio
John LeTourneau is currently the KW Commercial Managing Director for the E to P Group of 9 offices in the Chicago area. In his role, John oversees the strategy implementation and daily operations of the KW Commercial brand, with a special focus on mid-market commercial properties in the Chicago region.
During his career, John has represented landlords, tenants, investors, owner-users, and sellers in all aspects of commercial real estate; and looks to use this experience to leverage the KW Commercial platform.
Mr. LeTourneau’s accomplishments include:
● Member of the Board of Directors, Illinois REALTORS®
● Immediate Past President, Mainstreet Organization of REALTORS®
● Member of the Board of Directors, Mainstreet Organization of REALTORS®
● Member of the Commercial and Government Affairs Committees at Mainstreet
● Member of the Illinois REALTORS® Commercial/Industrial, Leadership Development, and Public Policy
Working Group
● Member of the National Association of REALTORS® Commercial Real Committee
● Overseas Member of the Institute of Professional Auctioneers & Valuers (IPAV),
Dublin, Ireland
● Illinois Consulate Liaison to the Republic of Ireland
● Illinois State Legislative Contact for Senator John Curran
● Approved Continuing Education Instructor in Illinois
● Approved Instructor for NAR and REBAC
● Carries the CIPS, e-PRO, ABR, CRS, SRS, PSA, RENE, C2EX, AHWD, and GRI
Designations/Certifications