Liza Florida joins Collin Mitchell in this episode of the Sales Hustle Podcast. Liza shares her background on how she started her sales journey. She shares a lot of sales nuggets and takeaways, particularly in real estate.
Liza Florida is a Real Estate Specialist and Managing Partner in The Myriad Group, Inc. She is knowledgeable in residential real estate, specialized assets, and mortgage lending with proven abilities in sales, lead generation, acquisitions, and relationship management.
Liza is also the host of the Eight Billion Podcast. The premise of the Podcast is about individuals sharing their stories about their passion and purpose.
You can find out more about Liza Florida at the following links below.
You can also listen to the Eight Billion Project Podcast on any major podcast channels, Apple, Spotify, etc.
If you’re listening to the Sales Hustle podcast, please subscribe, share, and we’re listening for your feedback. If you are a sales professional looking to take your sales career to the next level, please visit us at https://salescast.co/ and set a time with Collin and co-founder Chris.
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Sales Hustle - Episode 47 - Liza Flordia
Welcome to the sales hustle. The only no BS podcast, where we bring you the real raw uncut experiences from sales makers across various industries. The only place where you can get what you're looking for too. Uh, your sales game today's episode is brought to you by sales caps. Sales cast helps sell professionals, transform the relationship building process and win their dream clients.
[00:00:30] I'm your host, Colin Mitchell. What is happening is sales hustlers. Welcome to another episode of sales hustle. And I have a fantastic guest for you today. I've got Liza, Florida who is a involved in real estate. She's an entrepreneur investor and podcast host of 8 billion project. So yeah, we're going to dig into her story.
[00:00:53] Yeah. And she's going to share her experience in sales with you. So Lisa, tell us a little bit about your sales journey. Well, thanks Colin for having me. Uh, so my sales journey literally began probably even before I was 18. So I actually did, uh, uh, I, it was in, in like a call center at 16, but then eventually in.
[00:01:15] The Egypt 18. I went ahead and got my real estate license. And from that point forward, I have been in a residential real estate for about 22 years. Um, it's a family owned business and a big portion of my experience. There comes from, uh, the foreclosure and short-sale business, which happened between the years of 2008 to 2013.
[00:01:38] We represented about six major banks in. In the country, uh, as foreclosure agents. And then in the more recent times I began my journey, um, as a podcast host for a show called 8 billion, which is a, uh, what do you call this? A passion project of mine that stemmed from a live streaming, uh, type fun thing that I did on a platform called kumu, which is, um, in the Philippines.
[00:02:03] Uh, and I just went ahead and decided to start 8 billion podcasts. And it's the premise of the podcast is about, um, individuals sharing their stories about their passions and purposes, um, or their purpose in life. So it's been a great two months and I gotten amazing, um, guests on the show. So it's been really exciting.
[00:02:24] Yeah. I've had the opportunity to listen to some of those and you've had some great guests and great stories. Uh, so I've really enjoyed those now. So tell me a little bit about your sales experience. Like, so how, how are relationships built in that industry and what has helped you be successful? So, interestingly enough, in, in, uh, Residential real estate or the company, or our team was really started by my mother.
[00:02:54] And a lot of that is relationship driven. So what was very unique about our, um, about our business model was about 80 to 90% of our business was referral. Wow. And that's who, you know, and that's rare, especially in, um, residential real estate, because a lot of teams actually will go out. They, they become either, uh, they become buyer specialists or listing specialists, and then they go out, they do, you know, like their, um, their business model and sometimes can be scripts and dialogues.
[00:03:27] We were. Uh, relationship built a business. So it, yeah, it started with my mother and actually she was an accountant at first, she would do people's taxes and told them that they needed a tax write off. And so they ended up buying real estate and she was like, Hey, I've given so many referrals to, to these real estate agents.
[00:03:47] She goes, I might as well become a real estate agent. And from there, that's where real estate was born for our family. So, wow. Okay. Now that is a huge number, 80 to 90% based on referrals. I mean, that says a lot about what you're doing with these relationships, how you're treating these people and that they're feeling like they had a great enough experience that they want to refer.
[00:04:13] Their friends or family over to you. So what do you think it was that kind of stood out of, like, did you guys do anything differently? Um, what were you doing that everybody else wasn't in order to get that many people re referring you business like that? Well, you know, it, it really is. I mean, it truly is relationship base and it's how well you treat the people.
[00:04:36] So, like I said, if in the initial onset, if it started out, as you know, she was either doing taxes for these families and then referred them, it was her ability to truly be able to give them a full scope of like services. Now, in most cases, real estate agents won't do like taxes for you or anything like that.
[00:04:53] That was a rare case. But because of that, she was able to build some trust with some families. And because she, she had a great knack for, you know, for showing people how to invest their money, especially in real estate, she just continued to get referrals. And then the referrals grew to other family members and then the family members and extended to children.
[00:05:16] And then it ended up being a business. That, you know, um, I, I didn't start in the industry until 1998, but my mom moved into real estate since 1988. So it's been a family business that we've been in, but absolutely everything has to do with the relationship. It's about going, it's going over and beyond.
[00:05:34] It's knowing that they gen II that you genuinely care truly about not only, you know, it's the biggest sometimes investment of their life. And so it's knowing that you'd take care of them from, from beginning to end. And even after it's not just a transaction, you know, it's not a transaction sale. It, it truly is a relationship built.
[00:05:55] Um, and so how, how did, how did your mom go about, you know, passing on some of those skills to you? Well, you know, sometimes it's interesting, right? It's just like how your kids learn from you. And I, you know, I, I just told you in a recent, uh, just recently, probably before this, I was in a, I've been in a real estate transaction.
[00:06:15] That's kind of about 60, 60 days late. And that's, it's rare. I mean, that's a very, very rare case, but you know, like them as much as mortgage and real estate are doing well, what is. Kind of, uh, what's kind of interesting about these times are because we're in the pandemic. Some of these, these loans are actually harder to, to get closed.
[00:06:37] Um, but as far as her passing that on, it was just to be able to be able to. Navigate through all the relationships in all the sites. So whether I have the buyer as my client or it's to be able to have a good relationship with the other listing agent, um, it's the whole facet altogether. And you just go over and beyond to just make sure that everything, you know, everyone becomes happy.
[00:07:03] Everyone is stays in tune with each other communicates. Well. Um, I said in most cases being 60 days late, all of that. Other than, you know, would definitely have to withstand because of the relationship that you built. So it was the listing agents trust that we would get it done and extending for that certain amount of time.
[00:07:23] So those are, you know, those are key things. And sometimes, like I said, with a past pace of world that we're living in, sometimes there's a lot of shortcuts that are being taken because everyone wants to do the, then. You know, the volume of sales, but truly it's all about the quality of the seal. And that's how you keep clients for longer periods of time, because it's not like, you know, one and done, and, and then you're off to there.
[00:07:50] You know, you're off to your next transaction. You're definitely kind of taking care of them. So then, you know, you'll take care of their kids and their kids and their kids. Yeah. Okay. There's so many nuggets in there that I want, I want to double down on. Um, the first one is you said, you know, your kids pick up the things that you do.
[00:08:09] Right. And, and I have three little ones myself. Um, so it's really interesting because I would use, you know, certain sales tactics to get my kids, to do the things that I want them to do. Um, you know, giving them. Couple of options. Like, Hey, you want to do this or you want to do that. So they feel like they're making a choice or, you know, okay, we can do that, but we're only going to do it for, you know, two minutes or whatever, you know, these different things.
[00:08:33] Um, and it's interesting, like I've now seen my, my son who is about to be six is he's just. Subconsciously picked up those skills and does them to me now, when he wants me to do things and it's nothing we've ever talked about, it's just like, Oh, he's like using that tactic that I use on him all the time on me now.
[00:08:53] And I almost just do it out of respect for the, for his, for his right. It's the art of negotiation. It's true. Yeah. Yeah. So, and then you mentioned a couple times is, is going above and beyond, right. Which is so important, right? Because, and you said people, you know, skip steps today because they do treat a lot of these relationships transactional.
[00:09:15] Um, and, and so when you go above and beyond and you do the most, you can for people. They're actually in, it shouldn't be this way, but it, it they're actually shocked. Like they can't believe it because it's such a different experience than what they're used to. It's a pattern interrupt. They're like, I can't believe this person right.
[00:09:33] Really cares to like, do all of these extra things for me. Um, and, and that's how you build a sustainable business. Like you talked about where 80, 90% of your business is referrals, which for most people that probably sounds like. Uh, not doable or unrealistic, like how is that possible? Um, but you know, we've experienced that as sales cast is like, you know, we're growing like crazy.
[00:09:56] And like, we do no outbound. We do no outbound at all. Like literally everything is just like clients referring us business and like we're as busy. As we could be right now. Like we, you know, there's, there's there's room for more people, but like our calendars are filled up and we're talking to people and launching new shows and doing all kinds of things.
[00:10:16] And, and that's, you know, when you really just genuinely show people, you care, you go above and beyond, like, you're talking about. Yes, absolutely. You definitely. Because what did they say? They say, they don't know how much they don't care how much, you know, until they know how much you care, which has, which has very, you know, very true.
[00:10:35] I mean, it's not to, it's not to discredit. People have so much knowledge, but there's that factor in there that, you know what I mean? Like you, you know, it's, it's above knowledge. It's definitely having that personal relationship with people that I think truly. You know, makes you either a superstar in sales, you know?
[00:10:56] Yeah, yeah. Putting the, you know, putting people over, you know, the, the, the commission check or putting people over profit. Right. And people know they can tell, you know, whether you care or not, if you're just in it for the sale. Um, and there's key things that, you know, show people that like, are you actually listening to what they're saying?
[00:11:15] Are you actually, are you saying things that are not in line with what they've already told you because you're not listening and you're just, you know, really trying to move the sale forward, you know, are you asking them good questions? Are you bringing them ideas? You know, there's like a lot of things that you could do in a relationship to show people.
[00:11:34] That you do care and you're not just in it for your own benefit. Um, but it's more of a collaborative, you know, conversation to see if like, Hey, does this make sense for us to work together? Here's what it looks like to work together. And here's how it's going to benefit you. And then you go on that journey together and whatever product or service.
[00:11:50] Yeah, absolutely. You nailed it a hundred percent, so, okay. So tell me, um, Now. Um, so it sounds like your, your, your mom passed, passed on some, some very good habits to you. Um, as far as like, you know, building relationships and, and, and it's served, you served you well. Um, what have you seen change in your industry and like, how have you adapted to that change?
[00:12:20] Gosh, I've seen so many different changes. And that's a great question because I went from, what was this? I've probably been to three about three markets. So I actually saw my mom go through one market. One was probably in the late eighties when there was huge era. Aerospace, um, aerospace layoffs, like in the McDonald Douglas from McDonald Douglas.
[00:12:43] And that was in the Seritos long beach area because they have big. And so I've seen that where she went through a short sale market. And then in that immediate area, there was a timeframe that they went into foreclosures. Then the market actually shifted that shifted again. It went up and then it went back down for the mortgage meltdown.
[00:13:03] Uh, and that was absolutely insane. That was probably the most insane five years of our life, trying to run around to all the different, um, properties that were foreclosed. And then what was interesting though, and, and th that's what you were going to say was what, what were things that I. Definitely witnessed to go from such high values right before the mortgage meltdown or the yeah.
[00:13:28] That distressed industry time. And then it just drops. But to literally watch it ramp up in a short amount of time, because there was a lot of investors that were actually coming out. As to, you know, to buy up all those good deals, whether they were for short sales or foreclosures, and they had all these, this cash, the market shot back up again and within, you know, within, uh, uh, probably a five to six year timeframe.
[00:13:54] And then right now what's really interesting is I do believe we are. You know, if, if it goes in 10 year cycles, I do believe that we are, we should be experiencing a shift, however, because of the pandemic and what's going on, what's kept our, our market or especially the real estate market pretty stable is that our interest rates have been low.
[00:14:14] So what I did, you know, I, I have been kind of keeping an eye on what's happening, what there is some attention to pain. There is some things to pay attention to is that sometimes with then with the way that our, our, um, the situation with the pandemic, um, And, you know, loans that have gone into forbearance, not everyone is going to recover from that.
[00:14:36] So it's going to be interesting to see where the real estate market kind of goes. And I'm not saying that it's gonna, you know, it's not going to crash by any means, but it's going to be interesting because not everyone has the wherewithal to actually recover from this. As, you know, some positions and industries have been completely wiped out and some people have had to start all over again.
[00:14:55] But for the most part right now, I'd like to say, yes, It's strong inventory is low interest rates are low. And so there's a demand for home, for housing right now. Um, okay. Now, so what makes the difference between people in your industry that thrive in those times and don't Oh, are you talking about, um, especially when there's a major shift in the market?
[00:15:23] That's a really great question. One would have to really be truly experienced too. Now you don't have to have all the experience, right. Because one of the biggest things that we saw in that shift from 2000, it really, where we really started to see the shift in, in, in the market meltdown was not 2008. It started in 2006, because you could start seeing like key components to things, right?
[00:15:46] Like, it wasn't truly obvious to anyone that wasn't in the real estate industry, but you could just see everyone was borrowing too much. And so it, the, you know, the weight would shift eventually because we couldn't handle the amount of, of loans that were being borrowed in conjunction. And again, like, I don't know if I can get really complicated, but there's.
[00:16:07] And B and C paper that, you know, depending on credit. And so, um, the thing that makes you a really great agent when you shift isn't one, it's a combination of experience. And then how quick you're able to adapt that's so you don't have to have like, All the knowledge per se in like short Hills, but yes, you know, you have to have some type of knowledge.
[00:16:29] You have to have, you know, like I said, you have to have a good relationship with, uh, with the clients that they trust you. Because when you go into that type of industry, they're trusting you with not their financials as well. Because they're disclosing to you, why they're in a distress situation. So what does make you really, you know, what does make those people stand out is your ability to one adapt, create the, you know, get the knowledge as quick as you can and just keep applying it.
[00:16:57] And then, like I said, as, as you start to stand out because not many people could survive in that industry when it shifted, because they didn't have the knowledge, um, You know, in terms of how to handle clients in a distress situation, or if they were, you know, if they were going into foreclosure, there's a lot of laws that go with that.
[00:17:16] But again, too, that's another thing on top of knowledge, it's also, you know, your ability to, to have the drive, to keep on going. So I know it's, you know, it's not tough. It takes a lot of mental strength, mental and emotional strength to get through through times like that, especially in a, in a commission-based industry.
[00:17:34] Yeah. Yeah. There's two things that I love about what you just said is, is, is having that, you know, mental strength and emotional strength and drive to just. Trudge forward, right? Regardless of what you know is going on, and this is applicable to any industry, right? Any financial situation. Um, I think there's a lot of industries that are, have a lot of uncertainty and change has been forced upon everybody for obvious reasons.
[00:18:02] Um, and, uh, and then also, you know, being able to adapt. Sales hustlers that's like super important, right? Is like you gotta be quick to change and pivot and adapt and apply and try new things and, and really have an open mind, um, to weather, whatever sort of situation in your industry or in the economy or in whatever market you're in.
[00:18:30] Um, To be able to survive. And, um, I I'm, I'm, I'm up for the challenge myself. I like, I like, I like the harder things. I like the challenges. So, um, for me, when, you know, there's uncertainty or things like that, it's like, okay, now it's time to do more. Like, let's go. Um, and, and that's the sort of mindset that you have to have, you know, um, you can't just lay down and give up because times are tough.
[00:18:56] Yes, no. And that actually call him that's, that's great that you shared that because something actually clicked with me. I had an interview with, uh, with a gentleman named Greg Rolette from, and he's he does ambitious.com. And he was saying at the beginning of this year, he had to shift big time because like, I think the industry that he was in completely, you know, like.
[00:19:17] There was no business. And so he went from his standpoint, he said, I went from Ms. 10 point of me pushing out something. I thought everyone wanted. And me now looking at the general audience or the consumer or the customer and seeing what do they need, you know what I mean? So that, that was a thing. So in like, let's say for instance, Well, the shift in, in real estate, when it went into distress market, it was more looking one.
[00:19:43] I needed the knowledge to, I needed the compassion to be able to deal with these people. Three, I needed the mental strength and wherewithal to like, you know, because you're, you're, you're being inundated with people who are true, truly struggling to make their mortgage payments. And so now it's just that whole combination.
[00:20:00] So yes, you're right. Like that mental strength. And then also understanding. Your customer base, what are they in need of as opposed to, what do I think that they need? Right, right. Or what do I need or what do I need? Right. Right. All right. Well, Lisa, thank you so much for coming on today. Let folks know where they can find you where they can tune in to the podcast and all that.
[00:20:26] Good stuff. Well, thank you Colin. For having me, I can be found on several different platforms. I'm on LinkedIn S Liza, Florida. That's L I Z a in Florida, like the States. So I am on LinkedIn and Facebook and Instagram all as Liza, Florida. And if you'd like to listen to my podcast, it's called 8 billion on that can be.
[00:20:47] Spotify and Apple podcasts, or you could go also on my website. That would be eight E I G H T billion project.com. So eight is spelled out. Awesome. We will drop all of those links in the show notes for you. Sales hustlers. If you're listening to the podcast, please subscribe. Write us a review, share with your friends and we're listening for your feedback.
[00:21:13] Thank you for tuning into this episode of sales hustle. Are you a sales professional? Looking to take your sales career to the next level, the answer's yes. Then I want you to go over to sales cast.com, check us out. And if you feel that you are ready, set up a time to talk with me and my co-founder Chris, I'm your host, Colin Mitchell.
[00:21:37] And if you enjoyed this episode, feel free to leave us a review and share the podcast with your friends.