In an effort to keep pushing towards the goal of attracting listings, I decided to break down a titan of real estate, Tim Smith.

But in order to do his story justice, I wanted to make sure I really understood and broke it down right.

So in this issue, we look at the meteoric rise to the #1 Coldwell Banker team in California with over $5 billion in career sales & $770M in volume in 2022.

I hope you enjoy!

— Andrew

🎥 $770M Real Estate Titan Tim Smith: A Masterclass in Luxury Listing Videos

Big picture: Tim Smith has perfected the art of attracting luxury listings at scale through his innovative use of luxury listing videos. While his $10M-50M listing videos are what many see, he consistently attracts and sells homes in the $1-10M range.

Why it matters: Tim’s love for film, searching for a unique value proposition (similar to why Brad McCallum creates world-class listing videos), and his ability to be ahead of the curve with video (being the future of real estate marketing) 10 years ago, allowed him to dominate Newport Beach.

But it’s easy to see his 264 transactions, $770M in volume, +$5B in career sales, paid actors, well produced films, and say that’s great for him because he lives in a luxury market like Newport Beach… "my market is $300,000 or $500,000 average.”

Yes, but is there something that we could all learn?

• Video

• Listing marketing

• Storytelling

• Being original, innovative, and creative

• Taking big risks

• And finding a way, no matter what… to dominate your market

Tim’s only focus is continuing to sell listings at record prices (8-11% premium) by activating buyers on their listings while providing a world-class service.

He has other goals of building a community around him and getting the world to know and love Newport Beach, but his main goal of his marketing is activating buyers for his listings.

Tim’s story didn’t start in Newport Beach and Orange County.

Born in Salt Lake City Utah, and the youngest of 5 children. His early days in entrepreneurship started with scalping Utah Jazz tickets at 11-13+ years old.

Even though he lived in nice areas, they never had any discretionary money. So he had to scalp to make money and he would end up coming home at 11pm on a school night as a teenager.

The first pivotal moment in Tim’s life, and taste of sales & success, was being able to buy his own Air Jordan 3’s for $106 from the money he made the night before.

He got into real estate in 2001. As an outsider in Orange County, he realized early on that it was better to find the best people to shadow and get opportunities. Because making 50% off of something is better than nothing.

Plus, being extremely strategic by working with a top 10 agent (based on production), Ron (his dad of real estate), helped open doors with opportunities he would have never gotten.

Tim always had a love for film and saw video was going to be huge. So he started with connections in LA.

But they could never deliver it fast enough or cost effective because it was LA film price. And it would take 6-8 weeks to deliver so of course sellers couldn’t wait 1-2 months to list for a video.

From "Teach Me How to Duffy" to Selling Ultra Luxury Homes for a Premium 💰

Diving Deeper: 7-8 years+ after entering video, Tim’s first massive shakeup in the industry was his iconic real estate video "Teach Me How to Duffy," which received over 201k views on YouTube, 330k on Facebook and way more all across the internet & world.

This creative video marketing campaign quickly gained attention from major news outlets like Wall Street Journal, New York Post, CBS, ABC, and over 50-55 major National & international news picked up the story.

Cementing Tim's status as an innovator in real estate marketing, the “Top Real Estate Video Influencer.”

And what may surprise some people is there’s over 2 and a half minutes of content BEFORE they even mention or show the house… which at the time created they received negative feedback and hate for the idea.

Tim Smith's 7 Reasons Why Homes Don't Sell ❌ 

I’ve said this multiple times, selling a home doesn’t start with the marketing or when it’s listed. A great listing launch strategy starts with everything you do BEFORE you get on the market.

Tim's extensive knowledge of the real estate industry has led him to pinpoint seven key reasons why homes don't sell because:

• not being "show-perfect"

• poor photography

• incorrect listing prices

• limited market exposure

• showing availability

• lack of generated offers from showings

• unsuccessful negotiations.

Can any agent get more for their listings in any market?

• The opportunity exists, but some areas are more challenging.

By addressing these factors, Tim has consistently outperformed others, delivering outstanding results for his clients.

Creating Buzz: Activating Buyers 🎯 

The highest price in Orange County history. Throughout the years, Tim has consistently sold $10M+ homes and set numerous records, such as selling a Laguna Beach spec home for an astonishing $8,733 per square foot.

His recent sale of the $43.5M, 66 Emerald Bay property garnered 259k views on YouTube, demonstrating his digital expertise.

Tim's unique approach has generated impressive figures, including a total audience reach of 58.5 million.

Distinct Takeaways 💎:

He gives a lot of credit to his creative team and his partner for his videos like most good leaders do.

The Evolution: It didn’t start with the Duffy

His first videos were not like they are today. He had home tours of just the listing, no actors, no storytelling film, but a quality listing video.

Around 2013-14, Smith Group Films was born and he started incorporating actors & more storytelling. No talking, just music, b-roll and storyboarding scenes between the actors and home.

The Duffy didn’t release until 2018 and until then he continued to consistently produce films for listings.

Now if you look at his videos he’s even more creative with his Pelican Crest, Emerald Bay, VR Headset, family quarantining, and mini-Tim at Golden Eagle- videos.

So what are a few common trends from his videos 🔑 :

1. Storytelling - one of the most crucial parts of any video even if you don’t have actors, you can storytelling. With listing you can strategically think through the structure, the intro, flow, sound, etc.

2. Scale - one of the best ways to start a story is scale. Scale is showing the magnitude, the macro. But it’s also giving equal weight of big picture to the details. In this case, homes, drone footage or showing the main selling points is the macro.

3. Lifestyle - Tim always sells the lifestyle. Buyers don’t care about the 3rd bedroom, and the laundry room may not do anything to move the story forward. They also don’t really care whether it's granite or quartz in the video. By focusing on what it’s like living in the area, that community, neighborhood, and home- you will sell what people want.

4. Sound Design - sound is something I’m aware of but completely an amateur. Strategic music and sound can change the entire mood of a video.

5. Pacing - surprisingly in today’s goldfish time span world, Tim’s videos while are not slow but they’re also not fast. There are cuts, changing scenes, b-roll, and strategic edits throughout but the use of intentional pacing helps move the viewer along. They don’t linger on scenes either.

Convincing buyers to pay a premium

• Breaking down the value and replacement cost for buyers

• Factors like safety, climate, and lifestyle make Orange County attractive to out-of-state buyers

Tim's conviction in pricing properties

• Tim's experience and knowledge give him the confidence to price properties higher

• Testimonial video showcases the success of a $43.5 million sale

Sales skills vs. marketing skills

• Tim believes sales skills are more important

• Conviction and persuasiveness are key factors in sales success

Combining sales and marketing

• Both are important for success and should be used together

• Competitors may lack specialized knowledge and conviction

Promoting Newport Beach as the best place to live

• 2020 increased the appeal of the area for out-of-state buyers

• Tim's passion for the area helps persuade buyers

Advice for agents in less "sexy" markets

• Focus on the highlights and attributes of your area

• Act with confidence and conviction

Following your shot

• Creating content isn’t everything. Distribution is important. Tim puts money, time, and energy into distributing his videos.

  • He will promote listings on Google/YouTube, Facebook/Instagram, geofencing, etc.

• And more importantly, Tim would say outreach.

  • He was getting inquiries, but most of the time, people who come in aren’t going to buy that exact house or buy right away. Few will. So he needed an in-house sales team to work the attention he was getting.

  • This team helped incubate and nurture people over a long enough time horizon until they’re ready. But this also helped them source buyers directly for their listings.

  • They could’ve stopped or said they couldn’t afford it, but instead, now they’re actually extracting and finding buyers for their properties that are outside of their marketplaces and bringing them there.

Consistency and time

• It took 10 years+ in real estate for Tim to reach the news like he did.

• It took him 3-5 years of doing video.

• And he doesn’t care about his past wins. He knows that once its out its out and he continues moving forward to the next listing (and video).

Black box theory - learn from your past but don’t get stuck in it.

Premium Results: Selling Homes at 8-11% Above the Competition 📈 

Tim Smith's exceptional accomplishments aren't limited to marketing and creating buzz. His listings consistently sell at an 8-11% premium compared to similar properties for several other reasons.

This success can be credited to his deep understanding of his market, and unique negotiation skills. He’s often regarded for his ability to identify the right buyers, disclose information transparently, and effectively address buyer concerns.

Proficiency in a World Class Listing Experience 🌟 

Tim Smith's model revolves around his proficiency in selling high-end properties and providing value-added services to clients.

By offering hands-on concierge services, zero-upfront-cost home improvement options, and partnering with trusted local vendors, Tim creates a seamless client experience.

And this may surprise you after reading all of this, but he doesn’t win 90-95% of the listing presentations he goes on because he understands its a numbers game.

But more importantly, he sits down with homeowners way before they’re ready to earn the right to list their home. So when you’re sitting down with people early, you get the opportunity that most don’t get because by the time someone’s made the decision to move they already have someone they’re going to call.

Lessons from a Legend 📝 

One of his 2 favorite books is Originals by Adam Grant.

Originals is a study of the most innovative, and creative people in the world.

It re-defines what being creative means by using many specific examples of how persistence, procrastination, transparency, critical thinking and perspective can be brought together to change the world.

Another favorite book is Untethered Soul by Michael Singer.

Advice to his younger self: 

• Learn from others

• Don't avoid the details

• Get comfortable doing what's uncomfortable

So, what’s next?

Outside looking in, he’s stepped up his content again with his

• new RUHM podcast  

• consistently creating monthly market videos

• seller content

• more listing videos across the board

• And more short form videos

🎙️ Podcasts on YouTube is Massive News

What’s driving the news: YouTube Music officially launched Podcasts in their music tab. This is huge news because Podcasts are notoriously hard to discover. Until TikTok popularized podcast clips, and creators starting creating video podcasts for YouTube, it was extremely hard to get found & grow.

What’s new? As a user you’ll be able to switch from video to audio (vice versa) seamlessly. This launched last week in the US, and is launching globally soon.

Yes, but this still may not change the fact that buyers and homeowners won’t be searching for podcasts as much as researching local specific keywords.

However, audio does open a new frontier allowing non video people to consume your content.

Business people are notorious for listening to audio.

And this could level the search playing field a little from YouTube vs Podcasts. While incentivizing TikTok to speed up their podcast product (if it ever launches).

Bottom line: Despite all of this, I still believe YouTube has more local search benefit for real estate.

🏠 An Unreleased 29-Page Deck: How We’ve Marketed Over 1,000 Listings

We’ve had the opportunity to market well over 1,000 listings and invest tens of thousands of dollars in advertising for properties from $150,000 to $30,000,000, and I planned on creating a YouTube video sharing this deck…

However, I recorded a handful of videos a while back that ran into technical issues galore, so instead of waiting, I thought, “Why not share it for now?”

P.S. If you want to know the “secret” is video (go figure) makes marketing and advertising infinitely easier, less expensive, and more effective.

🗓️ May Monthly Content Drop

This month’s monthly content drop, you’ll find a little extra details that hopefully help for context and execution.

• the content calendar

• 8X short-form video topics with exactly what to say

• 4X long-form video topics with exactly what to say

• 4X emails you can send

• digital prospecting checklist

• content training resources

• hook library & more

I hope this helps you continue making 2023 a great year by leveling up your marketing game.

👀 How Ben Moss FINALLY Beat Stress & Connected With 600+ Athletes & Celebrities

Compass Sports & Entertainment Director, #8 team in FL, and over 600 athlete & celebrity clients - Ben is on a mission to help agents reduce stress, manage the highs/lows in sales, and follow your purpose by living with intention & mindfulness.

If you want to finally go from chaos to control, break the burnout cycle, find flow between business & life, and build authentic relationships with high-profile clients… then DON'T MISS this conversation!

You can check it out now! 

Also, live on Podcast wherever you listen! "Just search “Breaking and Building Leaders”

I would LOVE to hear who you recommend that I need to interview next?

🎙️ x 🎥 Stories Worth Learning:

• An inside look at Veronica Figueroa’s journey to 2,000 transactions a year for 2 years in a row 

• An uncommon conversation with Andy Frisella: he reveals everything

🐦 Leaders Worth Following:

• Mauricio Umansky’s $billion dollar blueprint 

• Why hiring is essential for growth, even if you can’t afford it with Dan Martell & Sean Cannell

📝 In Case You Missed It:

• Last Week’s Issue about The Rise of Bam: Their Content Model, YT Shorts Need To Be Long & ChatGPT is Old News...

That's it for today! See you next week!

If you have any questions, then reply & let me know so I can make sure that I'm not just making stuff out of my head, but answering the questions you care about!

Let's have an amazing week!

Andrew Bayon

P.S. It would mean the world to me if you found value from ANY of the content I put out, if you could subscribe to Breaking and Building Leaders on YouTube or Podcast IF you think you may like it & share it with 1 person!

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