Get ready to be F.I.R.E.D U.P! Today, we have Toby Salgado, a serial entrepreneur. Podcast host and founder of my radio expert a marketing firm focusing on helping realtors grow their business with radio & television, and all things digital. He started 6 companies in 4 different industries all producing at least 5M in top-line revenue and one doing 80M in top-line revenue. Today he is going to share how podcasting helped him grow his business. So sit back, relax, and enjoy the show! And remember listening and learning are amazing, but if you're not implementing, nothing happens.
Krista:
Are you ready to be fired up? Because I sure am. I've got Toby Salgado. He is an entrepreneur who has started multiple businesses, both inside and outside of real estate. And he is going to be talking to us all about his success and what's working right now. Toby, how are you? Welcome.
Toby Salgado:
Thanks, Krista. I'm great. Thanks for having me on. Appreciate it.
Krista:
So you've got a very successful podcast. A lot of amazing people down there. I saw you interviewed Grant Cardone, if I'm not… and if I'm not mistaken. Tell us a little bit about that. Where people can find… Where they can find you. If you like to make an introduction right away, in case they have to leave halfway through.
Toby Salgado:
Sure.
Krista:
Where can people find you?
Toby Salgado:
Yeah, so that… I mean, that's Super Agents Live. That's the podcast that I do. And I… We started that in 2013. And from 2013 to maybe 2016, all we did was interview the top 1000 of realtors. Right? So, we started… We first said we're going to do people that do at least 35 million, and then it was 50 million, then it was a hundred million. Right? Then it was like, “Okay, you got… you have 300 deals or more.” So we did that for a few years, trying to figure out what's working, right? How do people start from a single sole prop to building a team and doing a hundred million or $200 million? And so, after a while, you sort of hear all those stories. And probably in 2016, we sort of realized… We started to make a shift towards, “Okay, let's have some of those folks on. Some of the tactics and strategies that are working. But let's…” Really, mindset is at the base of it all, right?
Toby Salgado:
Because we can tell people what to do. We can show them even how to do it, but if that drive isn't there, they're never going to make it. So we sort of shifted into mindset and marketing for the last few years. But it's all around. How do you build your business and take it to whatever level you want? Maybe you're a sole prop and you're an individual agent, and maybe 12, 15 deals a year. That's all you want. Perfect. You know what? Our job is to figure out how you get to that spot with the least friction as possible. If you have bigger ideas, you want to do a hundred or 200, right? That's different strategies and tactics. So, anyhow… So we've tried to broaden the show a little bit over the last few years.
Krista:
So, Super Agents Live. Just to make sure. So, Super Agents Live is the name of the podcast.
Toby Salgado:
Yes.
Krista:
Okay. Super Agents Live. So make sure you guys go there. And then… I mean, I think it's awesome. So, the fact that you've been doing this since 2013 is honestly pretty cool in itself, because podcasts, it didn't start getting super popular until just a couple of years ago. So you guys had it figured out early on. You were an early adopter of podcasts, which I love.
Toby Salgado:
Yeah. Well, what we saw… I mean, when it comes to business… Right? Everything is about exposure, right? If you have a message that is somewhat unique… Right? Your… Then your next job is go, “Okay, how do I take me and my message and expose it to the most amount of people possible.” And certainly, if you were watching the internet early on, people who started, early bloggers. Those guys developed massive audiences that spun off into books and TV shows and everything else.
Toby Salgado:
And when we saw podcasting, particularly, it really… I started looking at 2011 and, and I was like, “Man, this thing could really go somewhere.” So in 2013, that's we're like, “Hey, let's jump onto this bit of media. Let's see where this thing grows and goes.” And we set… really set… That's how we sort of landed on this industry, is we said, “Okay, what is the industry that needs the most help? Realtors.” Right? We just look for audience's sides. Who… Where… What industry? Age. And we looked at everything. Right? HR. Right? And we just landed on, most amount of realtors, and then the… needs the most amount of help. There's some problems with that audience where we… But anyhow, so that's what we've been doing in the show for so long.
Krista:
Oh, I love it. I love it. So, you have interviewed very successful agents. And you asked me earlier today, because I was on your podcast and you said, “Krista, you can tell these real estate agents exactly what to do, but you give them the exact tactics, the templates, the blueprints, everything, they still don't do it. What do you think is getting in the way?” And I gave my… what I thought. And what do you think?
Toby Salgado:
I think it's a couple of things. Right? I think really at the base of it is… Right? When you sit down with someone and say, “Okay, let's write out your goals.” Right? People can write out these goals. And a lot of times the things they write out, turn out not to be their goals. Right? They're their friends' goals. There's some… They're their mom's goals. They're somebody else's goals, and they put them on this piece of paper. And then we wonder why at the end of the year or in mid-year we go, “Why we'd made so little progress in this?” So I think… Number one, I think, there's a misstep or sort of a misguidance between what people think they want or say they want, and what they actually want. Because at the end of the day… Right? If you want to succeed in this industry, it's not that hard.
Toby Salgado:
If you're hungry, truly hungry for it… Right? There are tactics all over the place, strategies all over the place. You can listen to 30 episodes of my show, and probably your show and go, “Okay, I know where to start. I know what to do. Now I just need to put in the missing ingredient, which is the hard work.” Right? So I think there's a misbalance, or people are not accurately lined up with what they say they want and what they really want. And I'll tell you… Hold on a sec, just let me expand on that a little bit. I think that's why in general, people in this industry stay mediocre. Right? Stay at that 8 to 12 deals a year, because most… I'll move on. I don't want to go to deep.
Krista:
No, no, no! Go, go! This is perfect. Keep going. Keep going.
Toby Salgado:
No. So I think, again, our job is to try to get people aligned with what they want because… and really to get them to put the effort behind it. Right? And this can translate into so many things. Some of the things that you were talking about today. Right? Do you really want to grow your business? Well, you know what? The hang-ups you have around your nose is too big, or whatever it might be, that's not going to stop you if you really want it. Right? If you… Are you willing to go to any length to get what you want? And I think for me early on, right? I had to dig deep. And the only way you're going to go through those obstacles, on your own, because the only way you can do it is if you dig deep and do what hurts and put yourself up for failure.
Krista:
Yeah. And you're going to fail for sure, along the way. Absolutely. So, you said a couple of really good things when… one of being which you've got to actually do the thing, right? You've got to actually be willing to do the thing that actually gets you results. And to know what it is that you want. And I… And some people kind of underestimate the power of goals and this isn't a goal setting thing, but I couldn't agree with you more about how important it is to really not only just write your goals down, but to know what it is that you want and why you want that. And is it something you want, or society, or your parents, your husband, or whatever else, things that you should have, and then being able to… once you decipher that… being able to put the activity and the action behind it so you can get it.
Toby Salgado:
Yeah. And so, the thing that I was going to say earlier, I was going to bang on realtors one more time, was the fact that a lot of people get into this industry because they want financial freedom and they want time freedom. There's two giant buckets. And the problem is… Right? Once you're all alone and you're in your office and you get to choose what you do today, people will always choose that personal freedom. Right? That time freedom, they'll abuse it. And they will never, ever reach the financial freedom. And so…
Krista:
Yeah, well… And yes… And if they are not taking their business and taking it seriously, getting the systems and strategies in place to be able to make this engine work, then if… even if they are busy, they still don't have the time. So it's just… I find them… We love realtors. Realtors are our bread and butter, right? So we love realtors. You guys are amazing. We love agents. But we have found in a lot of cases that because the barrier to entry in real estate is so, so easy… Right? My daughter just got her cosmetology license, took her a year and a half. She had to go to school 40 hours a week. It was 22 grand, and just for her to cut hair for a hundred dollars. Whereas we can get our license, and it takes us maybe a couple of classes, 20, 30 hours at the most. And next thing you know, we can get $50,000 paychecks, commissions really. Right?
Toby Salgado:
Yeah.
Krista:
And so, we just think it's going to be so easy, but when we weren't willing to put in… You don't have to put in the work, initially. So therefore, sometimes when you get there, you just think it should be that simple, and it's just not. So, with that being said, you've interviewed, the top, top agents from around the country for seven, eight years now. So tell us, what are some of the things… And again, I know it's not just one thing. But if you were to sum up the traits and the actions that realtors take that are successful, whether it be selling a hundred homes or 300 homes, and that was what they wanted, or selling 30 homes or 50, because that's what they wanted, what would you say those traits and qualities were?
Toby Salgado:
I think… So, some of this is super basic and sometimes I always think it's super basic and everything, and it is super basic because everybody hears it. But again, the problem is implementation. But number one, it's just time management. Right? People have all these ideas and they never put it down. And they never… People don't get into a routine. Right? It doesn't matter how you feel at nine in the morning. Right? If you're… If this is your business, at nine in the morning, you need to start your business, you should start doing something. Right? And you should be at the office. Well, what are you going to do? Right? Are you going to get to work at nine and then figure it out? Well, that's a pretty bad strategy. Right? I can tell… So, you need to figure out the night before, right?
Toby Salgado:
So, it's just understanding time management, and then getting into routines, I think. Right? That's one of the things that all top producers have. They have this ability to get into a routine. And that ties into some work ethic things that we must have, right? A certain amount of discipline that we must have. And some people, for some of us, it's innate. Some people, some of us… Right? We've developed it along the way. And some people never. Right? They're going, “Oh, I just started a business. And now, I need to develop these skills and traits.” Not to mention, the problem is… Right? Once we develop that routine and we have the discipline and we start to do the things. Right? Now, we need to get to the hard work of building the business. And what does that mean? Right?
Toby Salgado:
People think, “Oh, I sell real estate.” So they think, “Oh, I need to be a sales guy.” Well, that's fine. That's okay. That's one of the things you have to do in this business. But at the end of the day… Right? We are creating… We need to know how… We need to be a business person. We need to be a great salesperson. We need to be a great marketer. Right? If we're going to really ramp up and find leverage, and build a team, we need to be great managers. Right? All these are different hats. All these are different sort of characteristics that we need to develop along the way. So… I don't know if I answered your question. Again, sometimes I have a… I can start to follow a stream down and I don't know where to stop but-
Krista:
Well, you said they got to actually have systems. They got to have time… They got to show up. I think the very first thing that I like with what you said is, you've got to show up. In my career, I was always dressed and ready to go at the office by 8:00 AM, 8:00 AM in the morning. That's when you start, 8:00 to 5:00, I am dressed, I'm ready to go, showered, I know what I'm doing. It's… I hit it hard. And I think a lot of people mosey into the office around 10:00, and then they talk to everyone, and then they have lunch and then they…
Toby Salgado:
Sure.
Krista:
It's [inaudible 00:10:41] realtors. And I love realtors. I think you're amazing. But you look at these top producers and they're top producers for a reason, because they are hitting it hard. They're doing it.
Toby Salgado:
Yeah, for sure. Right. One other thing that realtors love to do is, even though I love people who listen to my podcast… I don't want you to listen to my podcast 20 hours a week. Right? I… You don't need… Don't get to… Don't get dressed and come to the office to figure out some tactic or strategy, or something that you could have done after hours. Right? This job, you need to treat it like a job. Right? You're your own boss. So, you really should drive yourself to your breaking point. Right? Because the only person you're going to ever let… At least for me, right? I'm never going to let some external boss drive me to my breaking point and really drive me to my capabilities. Right? To my limits. I'm the guy that's going to do that.
Toby Salgado:
So you need… Suit up, show up and get going. Right? And the thing… The other thing is, is sometimes we suit up, showed up. We think we're going to get going. And our plans fall short. We're like, “Oh, I wanted to do this. But something… My internet's down.” Who knows what? Right? We need to have sort of a fail-safe, a backup. If I don't know what to do… Because we often find ourselves like that. I'm not sure what the… It's… My time, I think of real estate. Right? Right now, what is the highest and best use of my time? Right? I'm constantly asking myself, what's the highest and best use? And sometimes I'm like, “I don't know what the highest and best use is.”
Toby Salgado:
And… Right? And that's when I should pick up the phone. Right? And something you mentioned today, right? Cut. Make a video and say, “Hey, man. What's up, dude?” Reach out to those 10 contacts that you haven't talked to in a long time. “How's Jimmy? How are the kids?” Right? And little things like this, we do along the way. We're not only laying bricks for our business, but we're developing that thing that's going to pay off later. Right? We're starting to develop those relationships, and those routines and habits that will pay off forever. Right? These are not short-term things we're putting into place. Right? We're putting these foundations in place and they will benefit us throughout our whole career.
Krista:
Yes, absolutely. Absolutely. So, getting up was one of them, having systems in place, showing up and actually implementing. And you said something… Well, it seems kind of basic and I just can't agree with you more. It does seem basic, but basic works, right?
Toby Salgado:
Yeah.
Krista:
Basic works. Being at the office every day at 8:00 AM and being there until 5:00, 6:00 PM at night, and dressed and ready to rock and roll, where it's… You're doing something, eventually, something is going to work. And you're… Knowing that you have to treat it like a real job, you're going to find things to do. And eventually, it'll start becoming easier and easier. Right? And then, as you start to see what works, then you're going to make that as something that you do every single day. That's an important aspect of being an agent. So from… With everything we have going on right now in the world, what would you assume… not assume… But from what you've seen, what are successful agents doing right now? More tactics and strategies, as far as real estate and not the practical things they should… of course, they have to do. What would you say you're seeing is working across the country right now?
Toby Salgado:
Yeah. Well, so that's a… That kind of broad question's super hard to answer, right? Because the things that are working for that… Again, sole agent is one thing, the thing it's working for the team of 10 doing a hundred million dollars, that's a different thing. Right? And the sole agent doesn't have the capability or the… really the funds. Right? To do what this team is doing. So, who do you want me speak to-
Krista:
[crosstalk 00:13:59] Pretend it's like you're sole agent. It's a sole agent. It's someone like myself, let's just say I'm a single agent. No… And that's it, just me.
Toby Salgado:
Just you. What do… I mean, okay. So… And so, if it's just you, then it's just… Right now, we're just dealing with your labor. Right? So, do you have a budget? If… Again, all this matters, right? How big is your budget? How much energy do you have? Right? Is it just you and you have three kids, you can only work three hours a week. I want to answer a question. Dial me into who I'm speaking to.
Krista:
So, I'm a… an agent who is maybe doing around 10 homes. That's the typical agent, average agent, right? It is my full-time career. Yes, I've got some kids at home, but I treat this like a business, working 30 to 50 hours a week in it, depending. I have around a thousand dollars a month marketing budget, to spend in my marketing. And I can get a lot done. Personally, if I can sell 70 homes a year with the transaction coordinator and myself. I'm not… I have that capability.
Toby Salgado:
Right. Perfect. Perfect. That's great. So, for that person there… Here's what I would say. Right? So, what's working for that person is… Again, this business is… Again, this is so basic, but so true. Right? This business is all about relationships. To that person, I would say, “How many real relationships do you have?” And your… And it could be your sphere of influence. It could be your whole database. And I'd say… And I'd first ask you, “What can you do to grow that? What can you do in the next six months to double that? Can you double that?” Right? What can you do? Right? So, number one, I would… you have to increase your audience. You always have to increase your audience, no matter who you are. And here's why.
Toby Salgado:
And again, I know you know this, Krista, but we put people on radio. That's what we do. We're mass marketing. We can talk about that later if you like. But when we look at a station, for example, we look at what's the audience. If there's a… Here's what we know. Right? Take an audience, a hundred thousand people. We know, on average, 15% of those people are thinking about doing something in real estate. So now we have an audience of 100,000. Now it's 15,000. We also know that about 3% to 5%… We always calculate three. 3% of that 15 has intent. Right now has intent. They're thinking about listing or buying right now. So, we have a hundred thousand person audience, but really, we're talking to 450 people. Right? So we always have to be in the audience gathering game. Right? We… Increase your audience and increase your sphere. So I'd say, “What can you do to double it?”
Toby Salgado:
Right? And you might have some ideas. More PTA meetings, more… Maybe you sail, maybe play golf. I don't know what you do. Right? But we're going to talk about that. We're going to bump up against the limits, and I'd say, “Okay, how can you find some leverage?” Right? This is all rolling to something like a podcast. Right? How in your local market, can you meet more people, more influential people like you or me, so that once I meet you, I can tap into… If you like me, Krista, everybody who likes you is going to little bit know they can trust me too. Right? So I can piggyback off of your influence of your audience. How can that agent do that in their industry or in their market? Right? Who is the prominent attorneys, or you name it, CPA-
Krista:
[crosstalk 00:17:03] Who have the larger audience? Who can you get in front of, that has a larger audience that can then put you in front of their audience.
Toby Salgado:
Right. But the right kind of audience. Right? So, the people who own houses. Right? Maybe multiple houses. So, financial advisors, CPAs, those kind of guys. Right? So again… Right? I would say, “Okay, you know what? Maybe if you have a thousand bucks, Krista, you should start a podcast.” That's what you should do. And you just spend a thousand dollars marketing that podcast, gaining more influence in your market, and more access to those other people that now know they can trust you.
Krista:
Got you. So, let's talk about it. So, what do you do? So you say you get people on the radio, or do you get… do you help people with podcasts? What do you help with?
Toby Salgado:
Well, we… So, we have a podcasting service. It's called ViralKast, with a K, you can go check it out. But our main thing is putting people on radio, radio and television. Right? Mass media. The thing about… You were talking about the internet earlier, right? And I think we're all in internet and people think you have to be on the internet. You have to be on the internet, because the world's on the internet. And that's not true. Right?
Toby Salgado:
[Malcolm Gladwell 00:18:03]. Right? He will… He's brilliant with this stuff. But he will say that there… We don't have mass media like we used to have. Right? Everybody used to read the paper. Everybody… 10 million people not used to watch television. But we don't have that anymore. Right? That 10 million is not only on the internet, but they're fragmented on 10,000 different sites. Right? On Facebook, yes. But on 10,000 different groups. So, the internet is a micro media approach. Right? There's nothing better to target women who make… You have three kids. Right? I can get very granular, but there is no mass media. So, we focus on the mass media of radio.
Krista:
And you help realtors have their own show, or get on other people's shows, or what do you do?
Toby Salgado:
No, no. [crosstalk 00:18:44] I'm talking about the radio. So, if you're in Atlanta, if you're in San Diego, if you're in Jacksonville… Right? And you're… you want to grow your business, we will look at the radio stations in the market. We have a demographic we're trying to get men, 35 to 54, 75K income and own a home. Right? That's who we look for. We look at the stations who have that. We find a day part, we cut a deal. And then I… And then we create the messaging for you. And so, we put your message, literally, in front of a hundred thousand people or whatever the market is. Right? Jacksonville doesn't have a hundred, maybe it's 30,000. But it's… But we focus on mass media.
Krista:
Got you. Okay. Cool. Cool. Cool. And then, what's the name of that company? By the way, when I was on yours I forgot to even say who I was, how I'm looking to hear about you when I was on your podcast later.
Toby Salgado:
[crosstalk 00:19:28] Yeah, you jammed. You jammed. We'll, I'll introduce you. Don't worry about that. So… myradioexpert.com.
Krista:
myradioexpert.com. Okay.
Toby Salgado:
Yup.
Krista:
So, I mean, I was thinking about how to reach the masses. You can do so through being on the radio. So, talk to me, Toby, a little bit about the kind of things that you've seen happen through agents using this.
Toby Salgado:
Well, so number one. Right? The… When you get on something like a radio, where… And we have… Again, we have a very specific sort of messaging for that. We can talk about that if you like, maybe. But it's all listings. Right? So we target people who are ready to take action. Right? This is a sort of a hard thing to talk about, but we target men for a reason. Right? We've targeted women, we've targeted men, but we find that men are much more apt to hear our message, pick up the phone and say, “Hey, man. I'm ready to sell my house, come over.” Right? That's… It's the kind of lead that everybody wants. It's like just, “Hey, I'm ready to list. I've heard you for a while. Come over.” They come over. They sign… There's no sales. There's no nothing. Right? So, we… That's what radio does.
Krista:
Mm-hmm (affirmative). And you're helping people with their messaging. So, talk to me, you were saying, “Hey…” Do you want to talk a little bit about messaging. Let's talk about… Let's talk messaging. What kind of messaging would… should people be having on some type of radio show like this?
Toby Salgado:
It's not a radio show, but it's just the radio. Right?
Krista:
[crosstalk 00:20:45] Okay. It's like commercials.
Toby Salgado:
Commercials. Right. Exactly. It's not a radio show. If you can do a radio show, and I would say, “Don't do it.” Right? People call me all the time and go, “Should I do a radio show? I'm in Atlanta. I can buy Saturday afternoon airtime cheap.” And I'd go, “Don't do it. Save your money.” Right? You're better off. You're better off deploying that in a bunch of different ways. So, we're talking prime time commercials.
Krista:
Got you. Okay.
Toby Salgado:
Yeah. So… But you asked me a question before that, Krista.
Krista:
The messaging. So, what kind of messaging?
Toby Salgado:
[crosstalk 00:21:13] Yeah, messaging. So, here's the thing with messaging. And I think messaging, and understanding the format of messaging is important, because as you create a video… Right? And you're big on video, then you migrate people to Facebook ads. But… So, our messaging has four parts. Right? We tell them what we're going to do. We make a fantastic offer. Right? And the thing that works on radio is making some kind of guarantee. Right? Some kind of offer, some kind of guarantee sale offer, where people go, “I don't know what it is. I'm thinking about selling my house. I know Krista sells houses, but dude, you have such a good offer. I need to understand it.” So, you make an offer-
Krista:
Like, “List your home within a month, or I'll buy it back from you.” Something like that.
Toby Salgado:
… You could say that, right? You could say, [crosstalk 00:21:58] “I'll sell your house-“
Krista:
[crosstalk 00:22:00] You mean, four, five… Your best guarantee.
Toby Salgado:
… Well, there's not that many of them. But, so-
Krista:
I'm trying to get [inaudible 00:22:07]. Come on, Toby.
Toby Salgado:
[crosstalk 00:22:08] … All right. Okay, let's go. [crosstalk 00:22:09] Well… So, I'll sell your house at your price or I'll pay you five grand. We run that in a bunch of different markets. Right? What we used to do is I'll… Before the market get crazy, I'll sell your house in 10 days or you pay me nothing. Right? So, it's a guarantee like that. There's the one that you mentioned… Right? That's always out there. I'll sell your house or I'll buy it. Right? There's a tons of ones like that.
Toby Salgado:
But… So you make some sort of guarantee, some sort of offer that people want to hear. And again, this format that I'm going to talk about is something that everybody should be using in all of their stuff, I think. Right? So you make some kind of offer, tell them something where you capture their attention. Right? Being on the internet, you've got three seconds to get their attention. Then you tell them how you do it. Right? You give them two sentences. I'll sell your house at your price. Or I'll pay you five grand. Right? You tell them how, and you can say a million different things. Right? I spend a hundred thousands of dollars on marketing. I have a million people ready to make an offer. Right?
Toby Salgado:
You make the offer, tell them how, then you give them a testimonial. Right? Just last month, I sold Krista's house. Right? Krista had it on the market for 30 days. Got nothing. I listed it, sold it for 15 grand over. Right? And then a strong call to action. Bang! Right? And make them a strong call to action. Right? This is… And for us, we always have a phone number, right? That's it. No website, no landing pages, no nothing. If you're in-
Krista:
Just your phone number.
Toby Salgado:
… Yeah. Pick up the phone and call. Take action. And that's why when our guys pick the… answer that call, there's always a deal at the other end.
Krista:
I love it. I love it. I love it. Okay. That's… We teach a very similar strategy in the video strategy. Right?
Toby Salgado:
Yeah.
Krista:
Hook them, align with their feelings, positioning yourself as the expert, why they should even listen to you, give them one or two teaching points, and then call to action. So they are very similar. So, now you're getting these people's phones to ring… by giving them some type of guarantee. You found that marketing on radio stations, where there's more of a male listener audience from a certain age range, has been the most beneficial for you as far as radio goes.
Toby Salgado:
Yes.
Krista:
Got you. So, give me an idea [crosstalk 00:24:19] as far as budget. So, if someone's doing this, how much budget on average are your people spending, and what would you say their average return on investment is, and how long does it typically take for them to see results?
Toby Salgado:
Yeah. So, our minimum spend is three grand. Our average spend is probably seven. The return is… It used to be three to five-
Krista:
Times more?
Toby Salgado:
I'm sorry?
Krista:
Three to five what?
Toby Salgado:
X. Three to five X. So, if you spend seven, we'll, we should be able to turn you at least 21, top line. So, three to five, that was pre-pandemic. Now pandemic, well, it's a two X. Right? If we can double your money. Right? If you put in seven, and we can get you 14 out, we're good. [crosstalk 00:25:07] So… And so, the time really depends on the market. It really… There's plenty of markets where there's not a lot of competition. Right? So… And this… If you go to… Even Orlando. Right? Orlando is not a large market, but it's not a small market. Right? There might be three stations that have our demographic on there. Maybe there's one realtor on one, so. Right? That's… I don't call that really competition. And I don't care if there's another person in that market, that's doing 300 deals. Right? If we have the mass media. Right? We're going to overtime, beat that guy, because we're reaching way more people. So, in those kind of cases… Right?
Krista:
Because they're hearing it over and over and over again, that's why-
Toby Salgado:
[crosstalk 00:25:50] Yeah. Well, the frequency's not-
Krista:
… it's a long term game.
Toby Salgado:
… It's… Well, frequency that's a… Hearing it over and over is a frequency issue. So, we don't really target frequency. Frequency… Right? In the old marketing days… Right? A bus bench. Right? The idea's somebody needed to see that bus bench 18 times before they remembered your name. Right? Another seven times before they took some other action, and another five before they called you. Right? So, we don't need that kind of frequency on radio, not with our messaging. Right? I'll guarantee to sell your house, Krista, at the price you choose or I'll pay you five grand. Right? Right-
Krista:
People are afraid of that though. So, I understand how it works because I actually teach guarantee programs.
Toby Salgado:
Okay, cool.
Krista:
But for the people who are sitting here and listening to me, freaking out right now. Right? Because they're not you and they're not me, and we've… So how… This is basically just getting your phone to ring. So, how does the agent, that's freaking out about making this type of offers… You just got them, saying they should do it in everybody their marketing… How do they protect themselves to where, if the listing is worth 500,000, they want 600,000? I'm not just going to give you five grand. Right?
Toby Salgado:
Yeah. Well, first of all, you're going to have crazy people in every market. Right? So, those crazy people… Right? So, here's one of the things. Right? That… I will send that message out to the market. And I want people, anybody who's thinking about selling, call me. That's it. Right? If they want to know how it works, I'm going to tell them, “Hey, listen, we're going to appraise your house appropriately.” You can't… If your house is worth… If you live in a mobile home, you can't ask a million dollars for your house, and I'm going to give you five grand. You're insane. Right? So-
Krista:
[crosstalk 00:27:18] Yeah. There's terms and conditions they had to adhere.
Toby Salgado:
… There's terms… Yeah. Right. So, I'll either do a CMA on it, or a client will do a CMA on it, or we'll get it appraised. And if you don't want to go through that, then I'm not your guy. Right? Again, this is not a long tail sales cycle. This is like, “Hey, are you interested? Because this is what I do. Pick up the phone and call me.” Right? This is not capture leads and nurture their leads. These are… There's no nurture in radio kind of leads. You can, but they're not… Those people, they're ready to do a deal or they're not.
Krista:
Got you, okay. You're catching them at the right time. And then the offer sounds good. It's a way to get the phone to ring. Then you still have to go there and perform. And obviously, there's terms and conditions that apply to every offer. Great. I'm liking it, Toby. I'm liking it. So I've actually done radio marketing. I've done any… I was on the buses. I was on the billboards. I was on the radio. I've done every kind of marketing [inaudible 00:28:09] you can imagine. So I've tried all of it.
Toby Salgado:
That's awesome.
Krista:
And I mean, I think all of it works, quite frankly. I think it all works, just a matter of which one works… And then, now let's talk about this. There are some areas… I'm only asking you questions, I know people would probably asking. Right? Or thinking.
Toby Salgado:
Sure.
Krista:
So there's some areas, for example, for me, I live in East County and it's outside of San Francisco area. So, I'm in between Sacramento and San Francisco. But there is no radio station that the majority of people live to. So, I'm spending all this money marketing, I'm hitting San Francisco and Sacramento areas that I don't want… Right? To actually hit. So, what would your solution be to that?
Toby Salgado:
Yeah. So I get those calls all the time, and I tell them, “Don't do radio.” Right? If you live in LA, you can't do radio. The signal's too big. It makes no sense. There's not… There's… I don't even know how anybody makes radio work, when you buy a KFI or… There's tons of markets, right? So, Manhattan is ridiculously expensive. You cannot get a return. So, people call in Manhattan, I go, “Man, I'm sorry. Start a team in New Jersey and I can help you, but not in Manhattan.” Right? LA is the same way. Right? If you call me up in Dallas or Houston, I'm going to say, “Yeah. We can talk about radio, but you better find another partner where you can split that with, because the signal's too big.” You can't be running two hours across town.
Krista:
Yeah, exactly. That's one of the issues that I came up with, from the area that I'm at. Either it's on the San Francisco one, it's just too large, but it doesn't really affect my audience. I'm not going to go to San Francisco from here. It's an hour and a half away.
Toby Salgado:
Right.
Krista:
Yeah. Yeah. Okay. Any other tips or tricks or things that you could… Because I know you have…
Toby Salgado:
I think a lot… I think… Honestly, I think you and I are aligned… I think we think similarly. I think, at the end of the day… Right? You'll preach, find your niche, and I will say the same thing. Right? What do you want to accomplish? And what part of your life are you willing to give up to achieve that? Right? And once you get clear on that, then we go, “Okay.” Right? I know how hard I think you say that you want to work. Right? What are your goals? Like, “Okay, what are your goals? And then let's figure out how to get there.” Because again, part of putting your time in… Right? And effort in… You need to be ready to fail in this business. What you're doing when you were starting this, you were starting a startup, no different than a tech startup.
Toby Salgado:
You're… It's a startup, just in a different industry. So that means you need to come in, ready with some capital. Right? You need to understand your run rate. And you better be ready to go. You need to be able to develop a plan, day one, and stick to it. Just like we were talking about our daily habit and routine. Right? It doesn't do any good, doing something for three weeks and then stopping. Right? This is the same thing with any kind of marketing. It's the same thing in anything. Right? Let's figure out what you can bring to the table, both in terms of energy and your own labor, and your own knowledge, and your capital. And then let's figure out a plan. Right? Because there is a run rate that you have. Some people have three months, some people have six months, some people have a year-
Krista:
[crosstalk 00:30:47] A year, yeah.
Toby Salgado:
… Right. And all of those strategies are completely different.
Krista:
Yes. I love it. I love it. And most people need to understand, it does take that long sometimes. Right? So you have to… And it's a business. It's kind of like… I know one of my old sales people, he was saying, I have a friend and he had… he invested $300,000 in one of those shopping… those… it was a coffee cart stand. Right?
Toby Salgado:
Yeah.
Krista:
Mobile coffee carts. He would spend… He spent 300 grand just on the coffee cart stand, doesn't include the employees, and the… For to sell a $5 cup of coffee. So in real estate, if we're willing to invest, and we give it the time it takes for it to marinate and work, anything you do will work.
Toby Salgado:
Yeah. Right. If you get enough time and enough dedicated effort. Right? This is another problem that realtors have. Right? Whether I tell them something, or you tell them something, they're like, “Okay, yeah. Podcasts. That's a great idea. It's in my budget. I'll do it. It makes a ton of sense.” Right? And they go out and they do it for three months, they're like, “It doesn't work.” I'm like, “Wait, what do you mean it doesn't work?” Right? “Are you slowly gaining listeners? Are you slowly capturing market share?” Right? “Mindshare? Or…” “But yeah, I didn't get any deals.” “Well, then you know what, man? You need to go work for somebody else because this is not… You're not suited to be an entrepreneur, man.” Right?
Krista:
Yeah.
Toby Salgado:
You need to find a plan that you believe in and be ready to stick to it. That's the only way you're going to be able to… Again, find your own capability.
Krista:
Yes. Yes. Agreed. Okay. Well, this has been awesome. I'm really appreciating you being on here. You did a great job. You've been, obviously in the podcast world, for… gosh, eight, nine years now. I got to say, that is just super. That's so great that you've done it this long and it's working for you because you've put in the time and the energy, and were willing to… When you first started, you had what? No listeners. And now you've got hundreds of thousands of listeners.
Toby Salgado:
You know what though? Hold on. In the beginning, it was easier. In the beginning, nobody knew what this was. I was the only game in town. Right? People would get on, they're like, “Oh my God. There's a podcast for realtors with realtors.” Right? So I literally, had [gagillions 00:32:46] more people listening than I do today. Plus, I had some issues with iTunes. But in the early days, man, I had… I've had everybody. I've had all the big coaches on. I mean, both in the industry and outside of the industry. Right? I've had that… all the big negotiation people on. Right? I mean, the… I've had two heads of the FBI hostage units come on to talk about negotiation. I've had tons of super, again, famous people. And I'll tell you, I had more access way back then. But now, especially, [inaudible 00:33:15] everybody's got a podcast. And I feel like my… And this may be a mental thing, but audiences now, again, more fractured. Right? People have more choices. So-
Krista:
Yeah, they do. It's the truth of everything. Right? It's… As much as people think that we should be able to… it should be easier because of the internet. It's actually harder. Right? It's harder because of the internet, because there's eight gazillion things that they can do. So-
Toby Salgado:
But… Right. But, hold on… But you're right. You're 100% right. But I think this ties into the… Again, something that I think you say, right? Be authentic and find your niche because if you are you… Right? There's only one of me. And however I am, there's a certain amount of people that like who I am. Right? I… Sometimes I go down a path and I stop and I switch. Right? And they're like, “Oh, that guy thinks like me.” So not… I'm not for everybody, but the people I am for… Right? Love me, which is fantastic. So, we have to go find our tribe and we don't have to be a guy that… a Tom Cruise where everybody likes. Right? There's… You can have haters, man. I mean, Grant Cardone told me that, he's like, “You know what? You're not doing anything right until you have haters, man.” And I took that to heart. I found some haters a little bit after that.
Krista:
Oh, good, good, good. No, no. I agree. And everyone's going to be attracting a different type of person. The nice thing about radio or video is that you're repelling the people that don't like you so… and… but you're attracting the ones that do. And so therefore, when you work with them, it's such an easier relationship. You actually enjoy working with them.
Toby Salgado:
Right. Right. Great. This is when they come in and there is no vetting process. They've already vetted you in their mind. They think they know you, they already like you. And they have these ideas about you, and you just have to show up and just go, and not offend anybody. Right?
Krista:
Yes.
Toby Salgado:
This is exactly where we want to be in our businesses and in our lives, where we have built in trust. And we can reach out to other people in our sphere and say, “Hey, man. Do you trust me enough to introduce me to that person that maybe you wouldn't normally introduce?” Right? I mean, that's… I think I touched on trust earlier in this thing, and everything's about relationships, but that's what it's all about. And the more that we can build those relationships and stronger. Right? And a mile deep and an inch wide really matters.
Krista:
I totally can hear [inaudible 00:35:19]. Toby, just before we end up, I always… First of all, tell people where they can find you at. If you have a special offer, you want to drive them to your podcast. Where do you want to go? That's the first thing. And then, leave with one… whether it's personal or business… What's one tip you would leave our audience with?
Toby Salgado:
Oh, man. Okay. Well, so, if you want to find me just… our… the podcast is Super Agents Live. You can Google it. That's it. And you can find all the radio stuff and everything else that we do from there. In terms of the one tip… I think… So your… By the way, Krista, your podcast it's on… or get F.I.R.E.D. UP.
Krista:
[crosstalk 00:35:57] Yeah, it's called F.I.R.E.D. UP.
Toby Salgado:
F.I.R.E.D. UP. One of the… Do you know John Lee Dumas?
Krista:
Yes. Yeah, I had him on my podcast.
Toby Salgado:
Okay. So, John… Right? John was early. John was… John started the year before I did, 2012. Right? Entrepreneurs on Fire. So he's got a similar sort of logo. So I… John's interviewed me a long, long time ago. And so John… When you go on that show, John will say, “Give me a quote.” He's a quote guy. Now, I'm not a quote guy, but I think this, kind of, will answer your question. I think the one tip… Right? Or the quote that I gave John was… It's by… I don't know. Alexander the Great, or one of those old Greek guys. But it was, “Fortune favors the bold.” Right? I think it was Alexander-
Krista:
[crosstalk 00:36:35] Oh, I like it. “Fortune favors the bold.”
Toby Salgado:
… That's it. And you know what? And I think, when it comes to building a business… Right? I think we need to take bold action. Right? Because anything timid is not going to work. Anything less than our full selves, and our full heart is not going to yield the results that it could. And I think, when it comes to people not succeeding in this business or in the world, I think it comes down to a lack of full effort. Right? So I would say, just be bold. And you know what, man? If you fail, you're going to fail forward. You can… We all learn in failure and it makes us stronger. So, maybe that's what I can leave you with.
Krista:
I love it. And just… When people fail, they're not even… they're not really failing. They're just learning to adapt and adjust and modify what didn't work, so they could figure out what does. And if you didn't fail, you'd never figure out what does work. So it's-
Toby Salgado:
Right.
Krista:
… really, really true. Toby, thank you so much. I really appreciate your time. You've been great today. I love your energy. Hopefully, everybody I know, they got a lot out of it. I appreciate your quote, be bold. Absolutely. Where the fortune comes in being bold. And everyone, listening and learning is amazing, but if you're not actually implementing, nothing happens. So, thank you so much for spending your time with me. And I hope you are just as F.I.R.E.D. UP, as Toby and I were today.
Toby Salgado:
Damn. Thanks, Krista.
