Dan Noma Jr. has been working in Real Estate literally since birth. Dan is the son of a builder & developer and Real Estate has been in his blood for many generations. Dan is a graduate of Arizona State University in Tempe, AZ with a BA in both business and political science. Dan is one of the leading Real Estate professionals in all of Arizona under 30 years of age and has held his position among the top agents in the state in general. Dan’s experience has given him an extensive knowledge of today’s market in Arizona

In this episode, Brian and Dan discuss the developing consumer patience in the real estate market, how COVID-19 is affecting the industry, institutional investors, and removing consumer doubts with the iBuyer experience.

In this episode, we talk about…

  • 3:35 – Consumer-thinking, how the idea of certainty has shaped and shifted the market
  • 7:22 – How virtual reality systems will help more value in the real estate market.
  • 14:01 – Will the current Interest rates increase in the near future and how should current buyers proceed?
  • 15:35 – Dan talks about how he grew his network of institutional investors in real estate.
  • 21:15 – iReal Estate Pro, what exactly it is and how it’s now the greatest acquisition tool in U.S history.
  • 25:15 – Property management, how you can make a lot of money but how do you get into it?

Show Transcript

Brian Charlesworth 0:16
Welcome back to the GRIT podcast. I’m Brian Charlesworth. I’m the founder of Sisu, and the host of the show. Today we are here with Dan Noma. He’s the owner of Venture Real Estate & Investment (REI) so Venture REI. For those of you who don’t know what REI means in this industry, it’s Real Estate investment. Excited to have you on the show today Dan, there are so many questions about COVID-19, how’s that affecting the industry, and with you certainly, we want to address how that’s affecting the iBuyer industry specifically. Dan is one of Arizona’s top real estate brokers and whenever I hear that I’m always impressed Dan because or and you’re also one of the top real estate agents there as well as all the other stuff you’re doing. So I’m excited to hear that but Arizona is like just smothered with top superstar real estate people, right. So how do you be in the top five there? You were named 40 under 40, named one of the top five real estate agents. I would just love to hear… maybe get a little bit more of your background from you and how you’ve actually excelled in Arizona with all that competition?

Dan Noma Jr. 1:57
I don’t know why, but this is the land of the real estate beasts we say. It’s been an interesting run, there’s a lot of talent here for sure. My business, my core business, the brokerage is really set up to work with institutions, private equity groups, and hedge funds, specifically to acquisition and disposition of their assets. We do a lot of acquisitions for publicly traded companies that are buying, you know, thousands of homes that are coming in to rent. So that put us in kind of unique position to really dive deep with the iBuyer, right, the iBuyer started in Phoenix about seven years ago. And so we early on, learned that this was a tool in our business and not really something that was working against us, and how can we leverage this in our business and so, to be honest, our business really exploded. You know, once the buyer started once the buyer actually got going, and the idea of this instant offer became interesting. We just kind of took what we were doing on the institutional level, and shifted that thinking over to IBM, we were able to transact quite a bit, I think our, you know, our biggest surprises out there just the way the consumers think. So my team, you know, specifically focuses on consumer thinking, like, I might be the only guy you interview on the show that has a mindset coach and I studied not only my mindset but consumer thinking, well, I really dive deep into you know, how people are reacting to different messages so that we can maybe make sure that we’re tailor fitting to whatever environment they’re there in today.

Brian Charlesworth 3:33
Okay, so that’s a great point. So consumer thinking, how is the consumer thinking right now here we are. Half of the country is on lockdown. Yeah, um, you know, people don’t know, depending on what state you’re in, you’re able to sell real estate, you’re not able to sell real estate. I can see you sitting in your home office right now. Yeah. So what is the consumer thinking right now since you’re an expert in that? Sure.

Dan Noma Jr. 3:57
Yeah. So you know what we’re seeing here. You know, it’s It’s short for us we’ve been we’ve really been disrupted. I would say in the last two weeks in Phoenix, it’s not been months like we’re seeing across New York City. So I have sympathy for those guys, but for what we’re seeing here at our micro market is really that, you know, the the the idea of certainty was interesting to our consumers before. The idea of this, you know, the ability to transact without having to deal with maybe all the pain points that they’ve had to deal with in the past, right? Yeah, appraisal issues inspection issues. buyer buy something and then they’re no longer financeable things like that. Yeah. So we found that there was a big shift in our market from consumers wanting to eliminate those doubts and at least explore options. They wanted to see what those options were. What I’m seeing today is that consumers you know, I have a couple things. One is I think that the good news is a lot of them have some equity, we’re seeing some patience. This is the first time I’ve seen patients in our market and a longtime Phoenix is always boom and bust So, we typically don’t have any kind of balanced market. It’s very, very cyclical in that regard. But what we’re seeing now is consumer patience and also this interest, this uptick in interest in what is going to be certainty. And what is this new landscape going to look like and how we identify that for our, for our consumers, is really just that, you know, we have options for you that consumers don’t have to go through your house, they’re not gonna have to look through your things anymore. We can do all this stuff virtually. inspections, there’s one guy’s gonna walk inside of your house and you’re in and out, like, there’s people are putting different values on, on certainty, for sure, but they’re also putting value on safety. That’s something different. I think everybody’s gonna have a different take on that as the dust begins to settle here, but for sure, it’s, you know, what is that consumer confidence and how can we how can we position ourselves as a real estate community to make sure that we’re giving them some type of certainty in an uncertain world.

Brian Charlesworth 6:08
Yeah. Okay. Great. Thank you. Yeah. You talk about these showings, right? Is that the new norm? Where you’re not gonna have people going through your house? Do you think? Do you think this is causing some shifts in the industry that will be broadly adopted long term?

Dan Noma Jr. 6:25
Yeah, I do. I think that there, there was enough early adopters of people that, you know, saw this as a threat to them, their safety and their families, that moving in the future. They’re the social distancing thing is something that they’ll probably continue doing to some regard. Right. And so, the thought of letting you know 100 humans into your property potentially during an open house is probably less likely now. Right? There’s there’s less potential sellers that are going to let that activity go on. Maybe that burns off with time, but I think the new norm is going to be as virtual as we can possibly be. limiting the amount of social exposure we have is going to be valuable for sure.

Brian Charlesworth 7:05
So is this going to be like a game changer for companies like math airport that, that do some of this these virtual tours in a 3d much, you know, much more? Maybe you’ve been taught virtual reality. Right? I mean, is that the future? Is this going to force virtual reality more into the to the real estate space?

Dan Noma Jr. 7:29
We certainly believe it is. I mean, we certainly believe that this is now the time where at least consumers will start to think that it’s, it’s acceptable. Before, you know, we’ve been testing some virtual reality systems here in Phoenix using a company called avatar. And it’s been great. But we’ve had a limited number of consumers that really wanted to transact that way. They said, Well, I still want to come see the house like this was fun. But you know, will they will they eventually start to transact that way? I think so. You know, I’m sure People are going to still want to kick the tire before they actually buy the house. But at least this probably limits the amount of properties that they have to go to it. Right. So the more education we as agents can give them, virtually, the less amount of properties are gonna have to be touring around. Like, I think, what would the good I mean, if I know it’s hard to kind of see a silver lining in this, but the one thing is, is like, this will help us level up as an industry, right? And we’re not gonna have to work as hard. We’re gonna have to drive all these people around all the time. It could limit our need to actually do all that stuff now.

Brian Charlesworth 8:31
Yeah, don’t you think this creates more value or the real estate agent? I mean, it seems to me that for the last 10 years, people have been trying to devalue the agent. All of a sudden, I think this experience is actually showing more value in the agent. Would you agree with that?

Dan Noma Jr. 8:49
For sure, yeah. I mean, I my I own a brokerage here in Phoenix. I have 160 agents. And what I’m seeing today is my agents are guiding our clients through this process right there. They’re finding Solutions there guiding them through the process. I even said it in my my team meeting on Monday that I was like, man, I can’t imagine being for sale by owner today, when all of this is happening, and maybe you have a contract that’s pending, and you’ve never had to deal with that before, right, like it sounds great in concept to just sell your house to your to someone that you know, off the street. But it’s when the wheels come off the bus that everybody goes, Oh, what do we do? Right. And that to have that that person to guide you along the way with some common some some factual information behind them. That’s, that’s invaluable. Right. So I agree. I think the agent is is going to level up in this for sure.

Brian Charlesworth 9:39
Yeah, okay. Good. I think all of the agents and teams and brokerages listening to this podcast are going to be happy to hear that coming from an expert in consumer thinking, right, so hopefully that hopefully that’s the case there. Um, let’s talk about right now. People who are under contract I’ve seen some falling out. I’ve seen a lot still going through. I’m still seeing. Obviously I’m, I have a software company in the real estate industry. I don’t sell houses, but my wife runs a real estate team of 20 agents also now owns a brokerage with about 30 agents just brand new brokerage. And I’m still seeing that these guys are, you know, they’re still conducting business in Utah anyway, where she’s having her best month ever. And I don’t know if that’s because other people have quit working or what but I guess my question more is around. If, if I’m under contract on a home, how do I decide to go forward or not go forward with her?

Dan Noma Jr. 10:45
Yeah. Yeah, I think for us at this point, we we’ve kind of separated the pools of potential buyers into pots, right. You’ve got a retail buyer and you have an investor type buyer. The investor buyers, we’ve been we’ve been selling coaching them To Be patient and you know if the need is to buy they have to execute the money it’s a 1031 exchange or something like that then of course Let’s transact and close but if we can be patient understand where the market if it’s gonna fall let’s let’s let the market do its thing so that we’re buying right retail buyers it’s different right I think we’re all experiencing in most markets right now a seller’s market right you put your house on the market, you’re getting multiple offers, in most cases, properties are selling. You know, those retail buyers a lot of these guys have been you know, kicking tires and trying to buy houses for a couple months and have been beat out. And so this gives them a nice opportunity to buy this stuff like in our market last Friday, we had 900 properties that were taken off of the MLS right so further reduce our inventory and other 900 doors. Wow. In today, our pending sales numbers are significantly up. So what that tells me is that the retail buyers less confidence the retail buyer believes that, you know this is a health pandemic, this is not an economic pandemic and we need to, we need to separate those two, they still need a place to live. And they believe that interest rates are low enough that even if you see a 510, whatever the whatever the fluctuation that we could see in pricing, it’s still worth it to them to buy this house today. So, you know, what I can say is I hope that there’s enough pent up demand out there that can swallow up any kind of supply that we see out there. And, you know, we could we could see things normalize pretty quickly. If that was the case. I mean, the retail buyers are one piece of the puzzle, but the institution amount of capital that’s waiting on the sidelines to see where this actually falls. Yeah, those guys are gonna rush in, but they’re not ready yet. So I think the retail buyers got a window of opportunity here to really take advantage of their ability to transact right now. And

Brian Charlesworth 12:49
I completely agree with that. My daughter, in fact, just closed on a home today. Yeah, and when this all happened, she and her husband called me they’re like should we should we back out on this house or should we go after this builder to give us a discount? And, and basically, I just reminded them of their at a 3% interest rate, right? They locked into the flat 3% they’re not going to be able to buy a comparable house for long, right, it’s gonna be hard to find, I don’t know, tell me how you feel about interest rates and what’s going to happen there.

Dan Noma Jr. 13:24
Yeah, I mean, the rate thing is going to be a hard one to put my thumb on today. I mean, what I could probably speak more to it just be the amount of cash that’s sitting today, right. Like I went through this in 2007 2008. When, you know, my my clients specifically in the investment world, they didn’t have cash, right, like we were borrowing they were borrowing from banks and trying to make deals happen by using this. Now we’re using cash. These guys are using real hard cash and equity to transact. So the it’s not like they’re gonna end up upside down. These things are things like that, like the chances of them getting back to some normalcy is much, much, much easier. You know, if I had a crystal ball, I would say interest rates, you know, they’ve got to do something, right, the bond markets not exactly great today. You know, there’s, there’s got to be some value there, right for these guys to start picking these things off. And once that bucket starts to overflow, we’re no one’s buying these mortgage backed securities anymore, because the interest rates are so low, we’re going to have to see them tick off, there’s going to be some type of increase to that. I just, you know, I don’t know, I don’t know how long it’s going to take. I mean, what we’re hearing today is that, you know, refi, refi, refi, and everybody’s going after it, which is great. You know, and I think that they should, as so long as they actually do the math and don’t understand that, you know, if they’re in a four and a half percent interest rate today, and they bought the house six months ago, and they only move into a three and a half percent interest rate. They gotta remember that they’re paying a lot of interest in the front side of that loan. So it may actually not make mathematical sense to refi just due to rate, like there’s math behind that, too.

Brian Charlesworth 15:04
Especially since your average homeowner lives in a home about six years. You’re not gonna make that up most likely, if you’re a typical homeowner Now, if you’re gonna be there 30 years, which so many people think they are, but yeah, not very often. Is that the case?

Dan Noma Jr. 15:18
Not very often.

Brian Charlesworth 15:21
Okay. So you just throw around the word institutional very lightly, because for you, that’s second nature. But I think for most people in the real estate world, if you’re talking institutional money, they’re probably overwhelmed with that. And it’s like institutional Hmm. So give us some background on how you got in with these institutional investors. Yeah. And how how you built that network? Because I think that that’s something that everyone should look at doing right. It’s is an extremely valuable way to, to be able to do a lot of real estate. So yeah, if you had help give us some guidance along that.

Dan Noma Jr. 16:07
Yeah, I mean they the single family for rent market. Today, it’s on the institutional side, I’ll get into that what that means but is is really only represents 2% of the entire single family for market. So most properties 98% of properties that are owned for read today are owned by mom and pop investors. The institution’s now represent 2% of that, but they’ve only been buying since 2011. So they expect that number to grow to 20% they want a 20% market share in the single family for out market, that could mean that they would own over 12 million homes across the country.

Brian Charlesworth 16:44
When is that’s supposed to get to 20%?

Dan Noma Jr. 16:46
Next five years. So this you know, that was before before any kind of pivots here but you know, so the first the first group that started doing this is invitation home so one of my clients is the president today of invitation homes. We were transacting and small, buy and sell working here in Phoenix. He had this vision he had this idea that he was going to take this, you know, multifamily concepts of being able to buy single family homes, manage them almost as if you would manage a multifamily project. And then once he would stabilize a portfolio, he could sell it at market. So you’d sell it on Wall Street, recapitalize and go do it again. And when he first came to me with this idea, I actually My degree is in commercial real estate finance, I kind of said to him, I think you’re kind of crazy. I don’t think this is going to work. If you think about just the the amount of maintenance alone, that that alone almost eliminates the issue. But they’ve mastered this, they came out with with some great programs, and he quickly, you know, 2011, they raised about $40 million from a group called Blackstone who’s the largest owner of real estate in the world. And they, you know, we bought 2000 homes that year in in Phoenix. So it’s been It’s been an interesting run. And so mutation Holmes was really the the originator of this concept. And then there’s been others that have, you know, followed suit. But basically what they are is they’re publicly traded entities that own single family homes for rent, that the assets within that entity are publicly traded. So now you as an investor, you can also invest in a group like an invitation homes where, you know, you you own a piece of their entire portfolio and, and this thing, you know, is cash flowing significantly. So, I think what the biggest surprise and you know, why this is so new for everybody to conceptualize, is we just didn’t realize how many people wanted single family homes versus wanted apartments, right. And, and that’s where they hit the nail on the head. So it’s an industry that continues to grow. So there’s, there’s, you know, all kinds of information out there, you know, you guys want to research this stuff, but you know, the the idea of Some kind of stabilization where, you know, you could live in, say, an invitation homes in Salt Lake and you could move from that property into a home in Phoenix and still have your same landlord is kind of the the concepts that we’re seeing today. So these guys own invitation as 100,000 homes across the country, progress residential, probably 85,000 homes across the country, American homes for rent, probably 75,000 homes across the country. So these groups are big, you know, and they’re they have significant, significant impact. And if you think about a fund, right, just conceptually, let’s say they, they they raise $9 billion to go out and buy single family homes for rent. When the when they could stabilize that portfolio of $9 billion of single family homes. They take that to market and the prospective says, Hey, we think the value of putting all this together and aggregating this future value is probably $11 billion dollars. Right. So now they get their 9 billion back. They also made $2 billion and they go out and reinvent and redo it again. So a group like invitation, they’re on their seventh fund, doing the same thing.

Brian Charlesworth 20:06
Yeah, that’s very cool. So how is it a real real estate agent or a real estate team owner or broker owner? How do I, how do I get in to this network?

Dan Noma Jr. 20:16
So this is a this was the really the fundamental baseline reason that we we built a real estate certification. It’s called AI real estate Pro. You know, being in the space like in Phoenix, I was kind of running an iBuyer game ahead of the iBuyers. And with iReal Estate Pro, what we do is, first of all, we educate our agents on how to work with the iBuyer and the institution. The second thing that we do is we give them access to right so we give them access to all of these groups so that they can submit their properties to them for offers and they can get offers on their properties for these guys. So it’s it’s until now it’s very bad and you know who you know business but More recently, now we’ve really been able to streamline the process and make sure that these guys are, you know, looking at properties that only work for them. And then also giving our agents the ability to give their consumers just another option. And that’s really what the the basis of a real estate pro training is to empower the real estate agent for the best consumer experience. And that’s, that’s what we do there.

Brian Charlesworth 21:23
So you build a iReal Estate Pro. Is that in 2018 that you put that together?

Dan Noma Jr. 21:28
Yeah. So we built it in 2018. We actually launched here in Phoenix, we launched in August of 2019, was our first ever live kind of live event that we’ve done with that. So today, you know, we’ve got over 3000 certified agents across the country who have taken the course and are members of our community inside of the platform. You know, and so that it’s been it’s been a fun ride to see especially with the growth of the buyer and the institution across the country. Real Estate Agents always have a buyer there. always something to do. Right. And I think that’s the, that’s the thinking behind this is that you know, as long as we go fish for properties that these guys will buy. Right now only one in five people are actually accepting the iBuyer the instant offer, the rest of them are gonna list the property traditionally, right? So what this is, is really the greatest listing acquisition tool in US history, right? So like my brokerage, we weren’t set up for this. I never we never did any retail business that just wasn’t our core business. I started practicing this way and started giving consumer all these available options, right because they would drive past an open door Billboard and an offer pad sign, see Zillow, commercial or whatever it was. And if I didn’t bring those options to my consumer, I started losing credibility. So I started just bringing the option to the consumer.

Brian Charlesworth 22:47
So you would just go online and look up those prices. And this is what you can get from here and here and here. And that was more your listing presentation, basically.

Dan Noma Jr. 22:56
Yep. So we showed up to the door and the more I you know, I learned this process. The more the more buyers that I brought to the table, the more options I bought, brought to the table for my consumers, my consumer credit, the credibility of me went up, right. And I started to remember, I started. Yeah. And I started to remove consumer doubt that there was other options, right? So what we always say is we just want to be involved in every conversation, whether they end up you know, I buyers a great option for them great. If listing retails a good option for them, that’s great, too, right? Or, you know, all these other little tools that are available to agents, we just have to make sure that we’re in the conversation, if we’re outside of the conversation, and they go there directly without us. They’re out of our database forever. So that makes sure that they stay within our, our ecosystem.

Brian Charlesworth 23:40
Okay, so you started doing that and saw that gap? Yep. between, between the institutional investors basically the large iBuyers, and between between the real realtor who’s going out and listing homes, right, and you said, I’m gonna put this together and empower that realtor to be involved in all this and that is essentially what really estate pro does is that right?

Dan Noma Jr. 24:01
Yeah. So, you know, we’ve got the ability for an agent, you know, they can they can submit to each one of these groups independently, you know, we don’t get involved in the transaction itself. So we just connect agent with buyer. We’re not involved in the transaction. This is strictly a training course. So they aren’t paying us a referral fee or anything for their transactions. But we we just, we simply show them you know, how to transact with these people, and then put it into an organized format that your consumer can understand when they get the information back.

Brian Charlesworth 24:33
Yeah, I love it. Very cool. Let’s talk about property management for a minute. So do you actually own a property management company as well?

Dan Noma Jr. 24:41
I do. Yeah. So we we manage about 600 doors here in Maricopa County in Phoenix.

Brian Charlesworth 24:47
I think that’s another word that can overwhelm a lot of people in real estate. Yeah, here property management. I mean, it’s like, is that I mean, everyone’s heard everyone In real estate, I think has really heard, Hey, you know what, you’re gonna own a property management company and make a lot of money. And it’s actually pretty simple business. But when you start thinking about how am I going to get into that, it seems overwhelming. Maybe you could give some tips on that. Again, if you if you look at our listeners, these are people who are mostly running very successful teams, or brokerages looking to create wealth, right. And a lot of the things that you’ve done here are really long term wealth builders. So I love what you’re doing here.

Dan Noma Jr. 25:31
Property management for us was, was built out of necessity. I was referring it out to other property management companies. And my clients would come back to me and tell me that they didn’t have a great experience. And I knew that if they didn’t have a great experience on the property management side, they weren’t going to buy that many more investments from us, right. So I needed to make sure that I was controlling both sides of the coin. And so we built property management, eight years ago within our brokerage and we really just started with our own clients and we just started just calling have, you know, letting them know that we have this option available to them? You know, I would say so far so good. It’s it. Is it more complicated than simple brokerage? Yeah. Is is there is there money to be made? Certainly. You know, I think that in our market, especially, we could focus on vacation rental management. So while that wasn’t so good, this most recent spring training season, in the past, historically, that’s been a really good seasonal kind of rental business for us. So about 90 properties in our portfolio are just vacation rental, the rest are all long term. It’s, for us, it’s it’s given us a couple different things. One is, you know, a place for some kind of sustainable income, right? So like every single month, I can basically count on tenants paying the rent, I’m at I know I’m going to get x amount in management fees. So it’s created almost a baseline of, you know, revenue for the brokerage that that has been been nice. second piece is, you know, I keep these clients in my ecosystem, so they’re not going outside of the ecosystem. sent to a different property management company where they might be seeing different ads and being shocked by potential sale options and things like that. And then the third piece for us is really just access to the investor and continued kind of communication with them. So we update our investors with their portfolio and we explain to them, hey, look, you know, and now might be a good time to sell. And if you do sell, we have another buyer that’s coming in who, you know, his money’s in a different place. So we need to, we’re going to sell your property to him, or we’re going to go buy two more for you. Right? And so we’re analyzing properties that way. So we’re actually growing our business by using the property management company and really managing their portfolio and we would like to think of this as the, the Charles Schwab of, you know, real estate investment where we’re actually looking at it from a portfolio perspective, trying to help these guys really decide when’s the right time to make those decisions. And then along the way, I mean, there’s bumps I’m not gonna paint a perfect picture for you. I mean, there’s definitely bumps with tenants and Especially right now there’s some uncertainty on who’s gonna pay April’s rent. But, you know, for the for the most part property management is it can be a pretty peaceful business if you just use the right systems, the right tools. I think it’s been it’s been great.

Brian Charlesworth 28:15
Thanks for sharing I think that it’s valuable. How do you communicate with your investors? Do you have a software that you do that with or what direct line of communication? Because with any business, whether you’re listing homes, or working with institutional investors, communication is the key to have long term successful relationships, right?

Dan Noma Jr. 28:38
Yep, absolutely. So you know, if they’re in our property management world, they we subscribe to a system called property where and within property where we can provide them all the analytics and information that we lose, we feel like they should be receiving. If they’re not yet in our property management world and we’re just communicating with them. We’d like to use video in our brokerage. So we we’ve shifted over to video email, we use bom, bom for video email. So we’ve learned that the more visual we can make it for our investor clients, and we can say to them, hey, underwriting this property for you today, here’s, here’s what the rents are. here’s here’s how I got here. We found that our close ratio went up once we shifted over to video, because they could actually see us visually underwriting the property in real time. That way, they knew we didn’t just come up with a number, right? Like we didn’t just decide, oh, it’s worth 300,000. We actually dove in and show them why we think it’s worth 300,000. So we found that video was a was a huge asset for us in that regard. And then our CRM tool is simple. We use podio, which is like a $15 a month solution. You know, you can build it yourself. It’s very kind of plug and play user friendly. You don’t have to be a programmer to figure it out. We use it in all aspects of our business to keep in touch and that’s our that’s that really is the heartbeat of the company.

Brian Charlesworth 30:02
I know, in looking at just looking online doing a little research on you, community service is a big thing for you. And I find with for a lot of the most successful people, that that’s important, it’s giving back. Tell us about some of the projects that you do there.

Dan Noma Jr. 30:18
Yeah. So, most recently, we’ve been getting involved with our St. Vincent DePaul Group here in Phoenix. My team has found a ton of value in just being involved on their campus and we’ve gone over there, we’ve been doing pizza for them on Fridays, so we can actually make pizza for the group there. They’ve got a great Pizza Kitchen setup. So it’s been an awesome team builder for us. And plus, you know, we’re give gifts give back to the community a bit. And then the Boys and Girls Club here. Like we’re constantly sponsoring, you know, events and things for the Boys and Girls Club here. These kids are, you know, definitely in need in certain areas. And so we want to make sure that, you know, we’re here and we’re active. So those have been Great Ones for us. We just got done. We call it our Drop. Drop your drawers event here in Phoenix where we, each one of our office locations. St. Vincent DePaul had a need for underwear. And so we collected, you know, package still underwear and had everybody dropping them off at our offices. And that was that was a fun event that we just did this quarter.

Brian Charlesworth 31:24
Okay, well, it’s, it’s been a really, I think, great experience just for our listeners. And I know for me to just get some of these knowledge bombs for you. And just wrapping up I just have a few questions that we asked all of our interviewees and just first one is just what’s your favorite book? Or and you know, Gary Vee doesn’t read books, right? So maybe, maybe some don’t either. So does your favorite book or source of learning what’s what’s something that everyone should do? And maybe a good tip from you on that

Dan Noma Jr. 31:56
I’ve got them mindset coach and and Chris Doris is is my coach and he has written a few books but this one specifically is called the daily dose in my brokerage and team and everybody has a copy of the book and we share them often but every you know there’s there’s a daily just kind of a one paragraph thing that you can read every single day. And that’s how we kick off our day is by reading the daily dose so for me, it’s the daily dose that one is my fave. Oh, I love it.

Brian Charlesworth 32:27
What’s your What’s your favorite place?

Dan Noma Jr. 32:30
Oh man, I’ve I actually like it here in Northern Arizona. We’ve got a we’ve got a cabin up in northern Arizona here and that’s, that’s my happy place. That’s a great place to check out. Play some golf and I love playing golf. So anywhere on the golf course is good, but that one specifically is my favorite right now.

Brian Charlesworth 32:50
Okay, great. And what about your favorite thing to do? It sounds like that’s probably golf?

Dan Noma Jr. 32:56
I love to play. So any any opportunity. I get I love to play. So it’s limited a little bit. I’ve got three or four year old triplets at home. So my my days of playing golf every day is pretty limited. But when I can get out there, I go.

Brian Charlesworth 33:11
Oh, so you’re probably excited to get them up into maybe the double digits. A little more time. Do you have any other advice, Dan, that you would love to share? Just, I don’t know, something we haven’t touched on today that might be might be valuable for our listeners, especially at this time. I mean, what what can I be doing as a team owner broker owner agent? Yeah. Today during this time of uncertainty?

Dan Noma Jr. 33:41
Yeah. I think I think that data is, is a currency today, right? So if I was an agent today, and I had a farm area or something specifically that I was looking at, the thing that I can provide to my clients right now is I can provide them data. And right now, like, you could turn on Two news stations. And here two totally different stories on the same subject. So data is king. And if we can make sure that we’re providing our, our consumers with real data of what’s happening in their neighborhood, like, here’s the amount of properties that were listed in the last week, here’s the amount of properties that went pending, here’s the price point per square foot that they sold that in those various different price points. And here’s our current days on market, like that’s information that is, you know, directly related to their little micro markets that they can’t just get from turning on the news. And all of our agents have access to that stuff. And so, what I’ve been preaching, you know, for the last few few days here specifically is that data is the currency that that is the real currency that we can play with today. And so let’s let’s be, let’s be, you know, sharing as much of that as we have access to, and that’s going to help us get through this much, much faster.

Brian Charlesworth 34:56
Great advice. love us. So how can we Get a hold of you and I mean it sounds like I actually have an interest in learning more about iReal Estate Pro I’m like that’s very cool I want to learn about that so that’s just is that is that how we go there?

Dan Noma Jr. 35:13
Yeah, you guys can go to You can find us on social media iReal Rstate Pro is available there as well. But yeah, irealestatepro.coyou can hop on there, check us out. We’ve got videos about what the course covers and all the things and tips and tricks that are in there, constantly updating it. And then we’ve got an awesome community inside of a closed Facebook group where agents are sharing best practices across the country. We’ve we found that to be probably one of the more valuable pieces of the puzzle for sure.

Brian Charlesworth 35:42
Great, and is there as far as best way to get ahold of you directly if I have questions, Dan?

Dan Noma Jr. 35:48
Yeah, I can just send an email probably to [email protected] and be happy to answer any questions anybody’s got there for sure.

Brian Charlesworth 35:58
Awesome. Okay, Dan was Great, thank you for your time today, super valuable to be able to collect information from people like you, especially during this time of uncertainty. So, thank you so much for joining us today on the show.

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