Billionaire Peter Thiel | Update on Bold Prediction | Silicon Valley = Real Estate | Capitalism vs. Competition | Seeking a Monopoly | Pricing Power | Fatal Flaw of Agents | Destruction of Differentiation | Propaganda: The Guru Party | Would Peter Thiel Invest In Your Business? | I Dissect The Question | Convention vs. Truth | Lottery Ticket Mindset | Constructing a Conviction | The Power of a World View | Uncertainty Leads to Being A Follower | Low-Information Agents | Why The Guru Party Is Failing You | Getting To a Higher Level of Thinking | The Steps To Take | Creating Evangelists | Copywriting: The Wrong Way To Learn | Listen To Peter Thiel? Or Attend Another “Training” Webinar? | Pioneers Get Criticized. Attacked | The Last Laugh Goes To | What  Could I Do To Be 100% Different? | Negative Reputation Industry | Handicap or Asset: How Can I Use That To My Pleasurable Advantage? | Your Broker Isn’t Your Boss | Bankrupt Competitors of Trust | Are You Sabotaging Yourself? | Perfect Differentiation: No Competition.  


From this program last week, do you remember the statement? “Mark my words— you’re going to see an increase in agent population of 300 to 500-thousand new agents. More new agents are going to flood into real estate the next 12 to 36 months than any other time in history.” 

I want to give you a quick update on this because this prediction is coming true, anyone could have predicted this. Since last month, NAR reports 12,000 new agents. By the time we get to the end of this year, 100,000 new agents, over the past calendar year, and we’re seeing it, it’s causing havoc. It’s making impact. 

We talked about it: California, Illinois taking actions to punish the increase and incompetence. Publishing the violations, code of ethics. Now Illinois, not so much, remember they don’t believe in public shaming, it will hurt agents’ self-esteem, it will be too harsh. It’s un-American.

But now, Brad Inman has come out. And he’s throwing everyone under the bus, headline reads, “Tweet Storm: Inman News Publisher Vents About Bad Agents.” Then continued, “Publisher,Brad Inman, unleashed a “tweet storm” today on loose licensing requirements, incompetent agents. Why we should care and, how to fix the problem.”

[Brief discussion of the facts]

Folks, this is exactly what I predicted—more agents, more incompetence, more unethical behaviors, more horror stories and so I’ll get to that, got an update for you. 

But now, let’s get to Peter Thiel. That name may be familiar to you. If it’s not, PayPal certainly is. Peter Thiel founded PayPal. He was also one of the first venture capitalists to invest in Facebook, and is a notoriously successful billionaire venture capitalist in Silicon Valley. Now, to be clear, I wasn’t going to talk about this. But I was listening to a podcast, Tim Ferris the other day, and a series of questions were asked of Peter.

He’s answering these questions, and I’m thinking, “It’s uncanny, the parallels.” 

So here you have Silicon Valley, a highly competitive industry for tech start-ups, and you have venture capitalists, and you have the founder of these companies coming to Silicon Valley to compete for those dollars. It’s no different than real estate. You have a highly competitive field, lots of real agents, all coming to the marketplace to compete for a very limited number of clients. 

And, as he was answering these questions, everything he said, I was putting into this context. The first thing I thought this was, “This is fascinating.”

Then Peter was asked a series of questions that I believe every entrepreneur needs to consider. Especially real estate agents, given the direct parallels of the real estate industry to Silicon Valley. Consider. If you thought of yourself as a Founder, rather than a real estate agent, and if you were attempting to secure an investment in your business, say, from Peter Thiel, instead of trying to just secure a client—how might this change the direction of you build your business?

Long story short – Peter Thiel is brilliant. And, although not intentional, delivers some of the best advice to real estate agents that I’ve ever heard. You could listen to him or The Guru Party, which seems smarter?


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