Guests: David Parnes, Daniel Ramsey
Recorded: June 27, 2019

Excerpt

David Parnes of Million Dollar Listing Los Angeles is one of the Top Team Leaders in the country. In this conversation, he shares his tips on grabbing great listings and becoming a wildly successful Top Real Estate Team Leader with our CEO/co-founder Daniel Ramsey!

David says being on TV has been great exposure for his business, but it all boils down to hard work and perseverance at the end of the day. He has built a fantastic team, and together, they work hard towards making their business successful. He has a great connection with his team, and they have great chemistry, their work ethic is, and that is what has brought them to the point they are at.

Because there are thousands of agents in LA, David and his team have had to be creative with their business and marketing strategies. They started with basic methods like door-knocking and the like but eventually, they connected with developers. By building good relationships with them, David and his team were able to find a niche, and they excelled in that niche. By staying on top of trends in homes, figuring out what people want and looking for, and relaying this to developers, he and his team can sell properties and sell people what they want.

David says it’s just a matter of having conviction and being present for your clients and really guiding them through the process as best as you can and working hard. Frankly, it’s just working really hard and just staying on top of your workload and being organized, and it can be done because they are doing it.

Don’t miss this excellent conversation; be sure to watch the video!

Transcript

00:00:05:04 – 00:00:32:20
Daniel Ramsey
Hey, Daniel Ramsey here with MyOutDesk. I’m excited because we’ve got another celebrity guest today and we’re going to do a lot of fun stuff. We’ve got David Parnes. He is from Bond Street Partners, the agency. And what’s cool about this show, if you’re live with us right now, give us a little shout out because this guy has over a billion and a half of contracts of clients that he is going to sell.

00:00:33:04 – 00:00:46:23
Daniel Ramsey
He is by far the largest agent I’ve ever gotten the opportunity to live interviews. So it’s rare to have $1,000,000,000 guy of just work right now, which is just nuts, man. So, David, thanks for being here.

00:00:47:19 – 00:00:56:13
David Parnes
Thank you so much for having me here. I’m actually sitting in my back yard, so it’s a nice backdrop and it’s very pleasant here. But thank you. I appreciate your your invitation.

00:00:56:24 – 00:01:15:12
Daniel Ramsey
Well, David, you’re you know, what’s cool, too, is that you’ve been picked up by Bravo and been on Million Dollar listing L.A., which is really cool. Tell us a little bit real quick. We’ll get into it, a little bit of your background. What’s it like being a movie star, real estate people?

00:01:16:14 – 00:01:37:08
David Parnes
I mean, I wouldn’t go that far. Thank you. That it’s great. I mean, look, honestly, it’s all about, you know, work ethic and in this business, you get what you get. And I think it’s about never giving up, staying in your life and remaining focused and always believing in yourself. And I think if you do, you stick to that formula, you’re going to succeed.

00:01:37:21 – 00:01:57:03
Daniel Ramsey
Now, we know there’s a lot of drama on your show, though. I mean, there’s a lot of like kind of fun stuff going on client drama, other agent drama, relationship and life drama. So talk to us about that. What’s it like, you know, giving the world a preview into your life every day when you’re on that show?

00:01:57:21 – 00:02:25:02
David Parnes
You know that the cameras are following us around pretty much all year. So, you know, it’s that they’re going to get stuff, you know, and when you when you make a decision to put yourself out there, it’s going to be all or nothing. You know, you can’t be half pregnant, as they say. So I think that, you know, having that opportunity to be on a show that’s out across the world and is great for business, you know, it’s it’s it’s it’s it’s something that, you know, I made a decision that I’m very happy to do.

00:02:25:16 – 00:02:51:08
David Parnes
And that means sharing everything and everything. Everything. I mean. Well, yeah, I mean, my brother’s been on the show. I have my baby got married, obviously not in that order. Proposed to my fiancee at the time. So literally it’s I’ve lived, you know, for the last six years shoveling everything that’s going on on camera. And what’s nice is actually closing some deals as well.

00:02:52:19 – 00:03:14:13
Daniel Ramsey
So making money and being on TV, that’s great. What what and this is a weird question, but, you know, as you get to know me, you’ll you’ll know weird questions come up from time to time. What’s been some of the most like embarrassing things on the show that you’ve had to share with the world? And afterwards you’re like, Oh, did I really, you know.

00:03:14:13 – 00:03:42:13
David Parnes
Oh, my goodness. I think it’s at the beginning. I think our first year, you know, when you first start, you know, on camera, it’s new, you know, and you don’t really, you know, the cameras come up and, you know, sometimes you don’t really know how to react too much. So it doesn’t show the genuine you necessarily. And I think over time that watching that first season back for me was was kind of like, oh, my goodness, well, so then from then on, you know, once you’ve seen yourself and you feel comfortable in front of the cameras, you get used to it.

00:03:42:13 – 00:03:56:21
David Parnes
It’s just it becomes second nature. And I think that I mean, things happen, you know, you know, you can get some strange clients. You can get some strange situations you find yourself in. But that’s just part of the course, you know?

00:03:57:05 – 00:04:06:23
Daniel Ramsey
Yeah. Well, okay, since you said that, what’s the strangest situation having been on TV that, you know, like a client deal or something, real estate related? You know.

00:04:07:21 – 00:04:28:08
David Parnes
We’ve we’ve been I mean, there’s been like a situation whereby, you know, we were in a listening appointment in I think it was Beachwood Canyon actually in Hollywood area. And the guy love Burning Man. So he basically came up with the idea or I think I did actually that maybe it would be a good idea to throw a Burning Man themed events for the Open House.

00:04:29:08 – 00:04:47:10
David Parnes
So that was pretty crazy because the way we dress and our outfits and the whole set up was pretty fun. Actually. That was a new one at the time and it went really well and I got a full priced offer for the property and the client disappeared so I could literally not get hold of him. He literally disappeared.

00:04:47:10 – 00:04:57:12
David Parnes
I haven’t seen him to this very day, by the way. I know he’s alive, thank goodness, because I got in touch with his dad who helped me close the deal at that point. So it was an interesting one and that all happened on camera.

00:04:58:07 – 00:05:03:13
Daniel Ramsey
And so you had to hunt down his dad to get the signatures to close the transaction?

00:05:04:03 – 00:05:04:12
David Parnes
Yes.

00:05:04:22 – 00:05:06:21
Daniel Ramsey
How long did that take and how did you do that?

00:05:06:21 – 00:05:26:24
David Parnes
It took about it took about a week. And thankfully, his his father was very, very nice and really real gentleman. And he wanted to get the deal done because it was a great deal and a great price. And, you know, it just it just happened. But, you know, that’s just one of the hiccups that can happen in any transaction.

00:05:26:24 – 00:05:44:03
David Parnes
But it became right at the end, and that’s just another thing. You just can’t give up, you know, you can’t think, okay, well, you know, I can’t get a hold of him. So that’s it. You just got to really think about the avenues, how to make the deal happen. And it made sense for them for sure, because it was a it was actually over us and they took the deal and it was done.

00:05:44:03 – 00:05:49:11
David Parnes
So it was it was quite a it was quite a journey with a bit of a rollercoaster, but it was fun. Now I look back on it.

00:05:50:01 – 00:06:06:06
Daniel Ramsey
That’s so awesome, man. What how did you get selected for this TV show? I mean, it’s a very I mean, in L.A. County, there’s like, I don’t know, 30 or 40,000 agents who would like Don to be on the show. And yet, here you are. We’re going to talk about.

00:06:07:02 – 00:06:28:03
David Parnes
Yeah, we were we were approached actually by casting agency and they actually called us and we just thought it was a joke. So we did we did a Skype interview, James and I with with the with the not even production company at that point. It was with the the scouting company tried and they I mean, we were just joking around.

00:06:28:03 – 00:06:48:15
David Parnes
I mean, it was just like we weren’t taking it seriously, which was probably a good thing in hindsight. And they and they, I think they sent that off to the network with the production company. And then they, they, they said the camera crew out for the day to see how we were and see how he did. And I think, you know, they were doing that with I think they started off with hundreds of agents at that time for the cast.

00:06:48:15 – 00:06:54:03
David Parnes
And we made it. So we’re we’re very grateful for that. And that was six years ago and we haven’t stopped since.

00:06:54:22 – 00:07:19:01
Daniel Ramsey
That’s crazy. What I mean, what’s been the biggest blessing having being involved with Bravo on, you know, in real estate land? There’s no better show to be on to raise your kind of influence and your name recognition. But what’s what’s been the biggest. Wow, that’s happened? I mean, it’s changed your life, obviously. But how and and what.

00:07:19:13 – 00:07:48:21
David Parnes
What it’s it’s been incredible because, you know, at the end of the day, as a realtor, that the way to sell a property is to be able to get as much exposure as possible, preferably targeted exposure. So, you know, as a realtor, you know, part of our job is is marketing. A big part of it is marketing and making sure that, you know, whether we’re representing the property, however we’re doing it, it’s seen by as many people as possible in the best possible light.

00:07:49:02 – 00:08:18:09
David Parnes
So, you know, having an opportunity to actually, you know, put our brand in our properties and show what we do on television across the world, basically in front of millions of people, is, is, is a great, great gift. It’s it’s an opportunity which I’m personally very, very grateful for and has worked wonders for us. And I believe that, you know, a lot of our success is attributed to the exposure that we we get on on TV.

00:08:19:01 – 00:08:30:12
Daniel Ramsey
Huh. And and what do you think it’s done for your brand in terms of gaining clients and reputation and allowing you to dominate your your kind of niche?

00:08:31:02 – 00:09:01:21
David Parnes
I think it’s all you know, it’s a whole connection. I think the I think, you know, we have great clients, we work very hard and, you know, we never give up and we have a great work ethic. I think that’s first and foremost the most important. And I think what this I guess what this platform has allowed us to do by being on TV and being on Bravo Big on such a great show is to really elevate that you know, and to really make the most of it and the opportunities that it affords.

00:09:01:21 – 00:09:18:03
David Parnes
And it really doesn’t. It’s, you know, I guess we were the kind of people that came to L.A. not to be on TV. A lot of people go to L.A. to become an actor or, you know, they want to do that was the opposite for me, but for some reason it kind of just ended up that we ended up on TV.

00:09:18:08 – 00:09:29:08
David Parnes
So it’s been a great run and we’re having great fun doing it and it’s been fantastic for business. It’s a lot of work, but but it’s something that we’re willing to do and we’re very grateful for.

00:09:30:03 – 00:09:48:21
Daniel Ramsey
It’s interesting because you said you came to L.A. We were joking before the show about you’re an immigrant. I mean, obviously you’ve got a little bit of an accident. But talk to me. Like, how how did you come to L.A.? Why? Why real estate? Like give everybody a kind of a breakdown on, you know, who David is.

00:09:49:14 – 00:10:10:11
David Parnes
So so I actually was, you know, before I moved to L.A., I just really wanted to get and I thought, what acts is going to work best in L.A.? What are people really going to like? You know, because, you know, I was actually born in Mississippi. I don’t nephew, if you knew that. But I was and I really, really perfected the British accent.

00:10:10:14 – 00:10:22:20
David Parnes
So I got to know more about me right now. But I really perfected the perfected the British accent before I arrived to L.A. and people buy it. I mean, I think I could do a pretty convincing one, to be honest with you.

00:10:23:04 – 00:10:25:10
Daniel Ramsey
Yeah, I know that’s not the treatment.

00:10:26:14 – 00:10:56:00
David Parnes
That you know. So. Yeah, I guess I guess, you know, coming from coming from London. Sorry. The helicopters are going to get coming from London, probably coming from London to L.A. for us. So we set up our business. It was you know, it wasn’t as though we had clients or connections or contacts or anything like that. So it was really important if we were going to make it in this business to get creative because it was a big chicken and egg situation.

00:10:56:00 – 00:11:15:18
David Parnes
You can’t get a listing without a track record. But then how did you get a track record without listing? That was the biggest, biggest challenge at the beginning. And I think every reel to face is that you compound, but you compound the fact that I didn’t even really know my way around and frankly didn’t really know anyone that could give us much business, it made it even more difficult.

00:11:15:24 – 00:11:37:22
David Parnes
So what we did is we actually noticed that a lot of developers were active in L.A. at the time. They were buying small houses on big lots, tearing down the house, basically building a bigger house to maximize that. The value, I guess, of a lot. And then, you know, the margins made when when they sell the house for a lot of money hopefully.

00:11:38:05 – 00:11:56:01
David Parnes
So what we noticed is that you don’t really need a track record to work with the developer. If you show a developer a good deal, they’re going to buy it. If they buy it and you do a good job and they believe in you, you may actually get the listing on the back end. So we we started doorknocking in Bel-Air of all places.

00:11:56:03 – 00:12:17:01
David Parnes
I mean, we just went straight for it. We didn’t realize quite what we were doing. But, you know, one of our first deals was literally from door knocking. It was a six and a half million dollar turbo ad, which was a big deal just for the tear down part. And we sold it to our client and we ended up listing that for him, went for $30 million plus when it was finished.

00:12:17:01 – 00:12:33:00
David Parnes
So we kind of hit the ground running without realizing it just by by sticking to this formula. And then, you know, once we sold the first set down with market it heavily around Bel-Air and then we get a call from someone else, I remember and he goes, Dude, I saw you sold that house for six and a half million dollars.

00:12:33:00 – 00:12:53:19
David Parnes
Do you think you could do the same for me? Yeah, sure. Why not? And we listed this house. We sold it to six and a half million dollars, and we really just, you know, we’re doing really big deals for six and a half million dollars is a big deal. And that’s just a tear down for us. And a lot of these listings are now $30 million plus and now we’re setting $20 million.

00:12:53:19 – 00:13:20:07
David Parnes
Tear down Bel-Air. I know. Can you believe it? In Holmby Hills and Bel-Air at $20 million teardowns. Loads of them. So that’s what. And then you know, what we do is we consult with the developers throughout the process because we know what people want and we typically get the listing signed while it’s under construction. And that’s how we’ve managed to amass probably about one and a half over one and a half billion dollars of current inventory right now.

00:13:20:11 – 00:13:25:08
David Parnes
So we have contracted either under-construction or listed currently.

00:13:26:01 – 00:13:43:16
Daniel Ramsey
Wow. So okay, how do you manage one and a half billion? I mean, one thing, if you listen to the show, say hello to Lisa Archer. We are open to questions. David loves questions. When I was talking to him earlier, he’s like, yeah, ask me anything. Daniel. I don’t care. I’m here.

00:13:43:16 – 00:13:45:09
David Parnes
Well, within reason. Not get.

00:13:46:14 – 00:13:48:08
Daniel Ramsey
Within reason. We’ll do that within reason.

00:13:48:19 – 00:13:50:19
David Parnes
You could ask me anything. I’m an open book guy.

00:13:51:06 – 00:14:14:13
Daniel Ramsey
Yeah, yeah. And I love that. So in in in Facebook or wherever you’re listening right now, if you have a question, just type it in. We’ll get to it to the answer. But your managing one and a half billion dollars in inventory active or in some stage of development inventory, how how do you do that efficiently? How do you do that effectively?

00:14:14:13 – 00:14:32:00
Daniel Ramsey
What’s your secret to doing that? There’s a lot of people I’m in fact, Danielle Del Real who friend and client is on watching us right now and he says it’s insane the amount of inventory you’re managing. How do you do that? What do you do?

00:14:32:09 – 00:14:36:01
David Parnes
You just work really, really hard.

00:14:36:01 – 00:14:36:10
Daniel Ramsey
Okay.

00:14:37:04 – 00:14:57:24
David Parnes
But I mean, look, this a context. A lot of these listings are going to be $100 million plus houses. So you know that they’re very big, you know, houses, not all of them. A lot of them. But but really, it’s just a matter of having conviction and being present for your clients and really guiding through the process as best as you can and just working really, really hard because it can’t be done.

00:14:57:24 – 00:15:11:22
David Parnes
And another thing is we didn’t we don’t have a team of 60 people. We’ve never done that. We’ve never you know, when I talk about our volume, that’s not with 60 agents underneath us. That is literally myself, James and two assistants.

00:15:12:18 – 00:15:13:02
Daniel Ramsey
Yeah.

00:15:13:11 – 00:15:29:24
David Parnes
And applying agents. So it’s not like, you know, we have 60 people. We, we, we like to have the control and we like to, you know, personally manage the majority of these listings. So frankly, it’s just working really hard and just staying on top of your workload and being organized. And it can’t be done because we’re doing it.

00:15:30:14 – 00:15:39:00
David Parnes
Yeah, it’s not good as well. So it’s not good. Like a lot of it’s under construction. So a lot of the products, a lot of the inventory is going to be delivered at different times over the next two years.

00:15:39:14 – 00:15:52:08
Daniel Ramsey
Right. So it’s, it’s you’re managing a process for your clients. Are you Mark, are you pre marketing stuff that’s in construction? Are you putting the photos up prior to the the thing being done or.

00:15:52:19 – 00:16:14:13
David Parnes
It really depends. Typically not so much because a lot of these properties, I mean I mention it more as an off market situation. You know, if I, if I was with a particular buyer that wanted something that matched what we were building at that time, I would definitely mention it to them and say, look, you can, you know, we can pre-sell this to you and and you can, you know, be involved in customizing it to your specifications.

00:16:14:19 – 00:16:34:07
David Parnes
So, yeah, it’s always on my radar, but typically a lot of these clients like to actually get to the to the delivery of the finished product. And we help them get from, you know, obviously buying the land to delivering the finished product with with our guidance and and expertize.

00:16:34:22 – 00:16:49:03
Daniel Ramsey
Yeah. When you’re, when you’re like helping these developers, are you telling them what buyers want in today’s market? Like what are some of the features that are must have for the L.A. crowd, the people, you know, 30, 40, $50 million.

00:16:49:13 – 00:17:15:20
David Parnes
Yeah. You know, when you’re around clients, buyers, sellers all day long, every day, and you’re going to you’re looking at all the houses, you know, all the inventory, you know, you know what’s sold, what hasn’t sold, why it’s sold, why it hasn’t sold. You kind of know. And you see the new things and the new trends. It really puts us in a great position to be able to to provide that guidance and that advice basically to to to developers to build this to make sure they get the right product.

00:17:15:20 – 00:17:35:03
David Parnes
So, I mean, I’ve walked into houses before that have just been freed up and basically said, look, you know, you got to change this up quickly. And, you know, an example was, you know, everything was wrong with the floorplan that I walked into. It’s the $20 million house, this one in Bel-Air. And I just said, look, everything’s wrong here, and this is what you need to do and you need to make the kitchen bigger.

00:17:35:04 – 00:17:54:02
David Parnes
You need to move it over that. You need to take this wall down. You need to raise the ceiling. And this was all done during framing. I went back two weeks later and everything had been done. So, you know, it was a really good feeling that, you know, the client listened to me and also the fact that I know that I basically took what was an unsalable house to a very sustainable house just based on the floor plan and the layout.

00:17:54:18 – 00:18:06:00
Daniel Ramsey
Yeah, we’ve got a question here. Do you have your agents show your listings or do you personally show them like yourself?

00:18:06:11 – 00:18:28:17
David Parnes
We don’t have we don’t have agency. We have a small team. That’s that was my point. You know, we’ve never expanded to have 60 agents or even 20 agents under us. We’ve always wanted to keep it to ourselves. And that’s what we’ve done. So, you know, it’s always someone, either James myself or someone one of our buying agents, someone that’s within our team of basically six people that would show the properties.

00:18:29:01 – 00:18:29:13
Daniel Ramsey
How do you.

00:18:29:13 – 00:18:30:20
David Parnes
We’re very hands on.

00:18:30:20 – 00:18:38:13
Daniel Ramsey
Yeah, but how do you manage your client’s expectations that like, I want David, I want I want to talk to David about, you know, how my market.

00:18:39:00 – 00:18:56:17
David Parnes
We do it. We do it. We really did. That’s it. Yeah, we do it. And you just work that much harder. And at the end of the day, you know, I won’t take on a listing that I don’t believe in at the end of the day. You know, if I if I think that the seller is being unreasonable or price wise, or if I think that the product is just not quite right, I’m going to be honest with them and I won’t tell them straight up.

00:18:57:03 – 00:19:09:18
David Parnes
And whether they want to fix it, whether they want to price it, the correct price, that’s up to them. But I’m going to give them the guidance to be able to get the best price. But it’s sometimes up to them whether they listen or not. Do you? I’m Celeste.

00:19:09:18 – 00:19:19:20
Daniel Ramsey
Do you have you walked away from a lot of business because, you know, you know, they weren’t listening to you or they wouldn’t kind of follow your guidance.

00:19:19:20 – 00:19:44:05
David Parnes
Yeah, absolutely. You know, I’m very, very selective. And the truth is that, you know, if I feel that, you know, this client is not going to, you know, take the guidance and do what’s best for them, based on my experience and what’s important to me representing them, if they don’t, you know, if they don’t, I guess, want to follow what I’m saying, because then I’m not the right representation for them.

00:19:44:05 – 00:19:49:05
David Parnes
At the end of the day, what at what value I might bring to the table if, if, if it’s not being executed.

00:19:49:17 – 00:20:05:22
Daniel Ramsey
Yeah. One, one. What are like the five things that houses have to have in l.a. If in a development scenario, like what are the must have one, two, three or four flat? I mean, what are the things that are just making people like seeing right now?

00:20:06:12 – 00:20:23:13
David Parnes
It really depends. It really depends on the price point. You know, when we’re going to the crazy numbers like, you know, the 50, $60 million houses, hundred million dollar houses that, you know, you just got to pull out all the stops on those, you know, but what I’ve noticed is, is the white box was very, very popular in the Hollywood Hills and they were selling like hotcakes.

00:20:23:13 – 00:20:48:11
David Parnes
You know, someone would literally build a white box with beautiful views of itself. Now people want more a warmer a warmer house. You know, they don’t want the cold model. They want more of a warm time. That’s modern. And I’ve noticed that’s a that’s a trend that’s that’s happening certainly in the Hollywood Hills. But, you know, a lot of a lot of buyers as well are liking, you know, I guess, you know, movie theaters.

00:20:48:11 – 00:21:08:06
David Parnes
Movie theaters are always a big deal. Historically, they were putting them in the basement. Now, a lot of people are actually putting the movie theaters on the main level just off of the kitchen area or the family area. And that’s actually interesting because you can it’s not just a movie theater. It’s also it becomes a seating lounge and a screening room just off the family area that people can congregate and actually use.

00:21:08:15 – 00:21:20:04
David Parnes
So that’s kind of a popular trend. And I think, yeah, just in general, just, you know, being more creative, putting better finishes and better attention to detail again, warming up, what would it be in a cold, modern house? These things all important.

00:21:21:12 – 00:21:45:10
Daniel Ramsey
When you look at your evolution, like from when you first got your license to where you are today, what are some of the lessons handling these luxury homes? High end buyers, people who are paying cash for like a $30 million property. What are some of the lessons that that you wish you would have known, you know, five, ten years ago when you first started in the business?

00:21:45:10 – 00:21:48:12
David Parnes
By the way, say hello to myself.

00:21:48:12 – 00:21:49:09
Daniel Ramsey
She just sat down.

00:21:50:01 – 00:22:09:21
David Parnes
Just in case you can even see her ears popping up from there. So I think lessons learned I mean, ultimately, I think to be successful in any business, it’s about mindset from the get go. So I think if you have the mindset of believing in yourself and the strong work ethic and you know, never give up mentality, I think that’s really the key.

00:22:10:02 – 00:22:30:23
David Parnes
So I think mindset is the most important thing from the get go and I think the rest of it is experience that comes from what you’re going to manifest and create as a result of that mindset. And I think that’s just, you know, doing transactions, doing deals, dealing with dealing with clients, learning what people want, learning what people don’t want in the market.

00:22:31:02 – 00:22:46:03
David Parnes
That stuff that comes later on and over time, and you’re always going to perfects and improve on your craft by keeping that mindset that I just mentioned and just going for it, you know, the experience is going to come. That’s just part of the package.

00:22:46:07 – 00:23:00:00
Daniel Ramsey
Yeah. David, would you share with us what a client experience would be like working with you? Like and this is really for the audience, people who are like, well, what’s it like to sell $30 million direct plays? Yeah.

00:23:00:08 – 00:23:16:18
David Parnes
I get that question. I mean, look, honestly, selling $30 million house, $100 million house, a $10 million house to build a house. It’s all real estate. It’s just numbers at the end of the day and slightly bigger properties. But the reality is that, you know, when I work with the client, I think they probably respect me because I’m honest.

00:23:16:18 – 00:23:34:07
David Parnes
I’ll just tell them as it is, there’s no sugarcoating and I’ll just be 100% honest and be true to myself and and really have their best interests at heart. You know, anything I tell them is for them, not for me necessarily. I think that, you know, I treat their real estate, their properties, that their needs as buyers, like I would treat my own.

00:23:34:15 – 00:23:47:16
David Parnes
And I think just having that, having that, you know, I guess big ethical and being honest and being transparent and being, you know, true to yourself and true to them, that’s that’s really the most important thing because that’s how you can do the best job for your client.

00:23:48:07 – 00:23:58:10
Daniel Ramsey
Right. What and what are the kind of services that you guys provide that kind of puts you or differentiate you guys in in your market?

00:23:59:07 – 00:24:17:09
David Parnes
I think it’s just knowing. I think it’s just knowing your market. I think it’s knowing your market in general, being there for your client from start to finish, not your clients develop. That means, you know, you’re not just selling the tear down, you’re actually buying them, working with them through the entire process from start to finish. And then obviously listing it and marketing it and getting the best price on the sale.

00:24:17:15 – 00:24:36:11
David Parnes
You know, that’s a real good relationship that so I think it’s not just, you know, we’re not just a, you know, no one deal or a one hit wonder. You basically want to be there as a long term relationship with your client because, you know, if they do well, the chances are they’re going to buy a lot of real estate and sell a lot of real estate through you.

00:24:36:11 – 00:24:45:02
David Parnes
And they’re going to trust you and rely on you to help them do that. And that’s really an important thing about longevity and and growing a big business as time goes by.

00:24:45:22 – 00:24:49:17
Daniel Ramsey
Yeah. Is to have that relationship with your clients and be in it for the long haul.

00:24:50:08 – 00:24:50:14
David Parnes
Yeah.

00:24:51:00 – 00:25:02:22
Daniel Ramsey
Yeah, yeah. Real quick, are you feeling are you experiencing any kind of a slowdown in the high end market in L.A. right now? Are you are you seeing I think at the.

00:25:02:22 – 00:25:21:12
David Parnes
Beginning of the year, I think at the beginning of the year, that it was a little bit funny because there was a bit of a standoff between buyers and sellers. And I did some negative press on the real estate market. But, you know, borrowing rates right now really, really low and attractive. And the market just in the you know, in from the second quarter of this year has just gone really, really strong.

00:25:21:12 – 00:25:38:19
David Parnes
But you at the same time, you know, sellers do have to be realistic on their pricing. That’s important. You know, right now we’re more a so the market’s been growing consistently, you know, for the last six years, pretty much. But now it’s a matter of, you know, it’s not plateaued. It’s just the growth is not you know, it’s leveled off a little bit.

00:25:38:19 – 00:25:55:07
David Parnes
So basically, you know, before the sellers were setting the prices and the buyers were meeting them, now the sellers have to understand that the buyers aren’t going to overpay for something in a market. It’s not going up at the rate it was for the last few years. But now that that’s happened, you know, the good product always sells.

00:25:56:04 – 00:26:01:24
David Parnes
And I think that, you know, set is becoming realistic now and things are selling. You know, there’s a lot of activity. It’s a good market.

00:26:01:24 – 00:26:05:05
Daniel Ramsey
It’s a it in your experience. It’s a good market right now to be.

00:26:05:05 – 00:26:06:18
David Parnes
Absolutely. Absolutely it is.

00:26:07:05 – 00:26:16:17
Daniel Ramsey
That’s cool. What are what are some of the things what’s it like to work for David in in your office like you’re you as a boss. Like what’s that like?

00:26:17:01 – 00:26:34:21
David Parnes
Honestly, I’m out and about the whole time. I spend most of my day in my car or my phone going to clients, meetings, properties, so. So really I’m just nonstop. So it’s more, it’s more likely to be a phone call and an email and like, you know, what’s up? And maybe I’ll pop in the office quickly and, you know, do what I need to do.

00:26:34:21 – 00:26:48:09
David Parnes
And then I’m off again and I can’t really sit still for that long, which is kind of a record by me sitting still for this long, right now speaking to you. So I’m one of those people, I’m a bit hyper and A.D.D., so I just, I like to just be like moving and moving and moving.

00:26:49:11 – 00:26:56:10
Daniel Ramsey
So what’s your day look like? Like, what’s what’s your what’s the day of $1,000,000 listing agent?

00:26:56:12 – 00:27:24:09
David Parnes
It really varies. You know, there’s a lot of filming, obviously, but it’s like, you know, it can be you know, I got a meeting this afternoon to discuss with with developer client, the mine to discuss their budget. And I’m the best plan to go forward with that property. And we’ve been working on this for a long time. I’ve got showings this afternoon in Holmby Hills and Bel Air and, you know, this morning I’ve just been doing emails and phone calls all morning, just, you know, keeping on top of everything.

00:27:24:17 – 00:27:38:11
David Parnes
So it’s just it’s it’s very, you know, it varies day by day, but the general theme is, you know, client meetings, showings, emails, phone calls. And that’s basically, you know, I’m filming, obviously. And that’s that’s how it really goes. I talking to you today.

00:27:38:11 – 00:27:48:23
Daniel Ramsey
I want. Yeah. Thank you for that. Um, are you currently in production right now and like you got, they’re following you around when you’re going to show properties and, and meet with developers.

00:27:48:23 – 00:28:04:18
David Parnes
I if I can really comment on that right now because you know, when you’re between seasons, I don’t want to say anything I shouldn’t say. So I’m not I can’t really answer that. Sorry about that. But typically when we are filming, I can answer it that way. When we all filming. Absolutely. You know that doubt that the cameras are that.

00:28:05:11 – 00:28:07:02
Daniel Ramsey
They’re just they’re just always they’re.

00:28:07:09 – 00:28:12:06
David Parnes
Well not always but a lot of time all year round. Yeah, we around.

00:28:12:17 – 00:28:18:20
Daniel Ramsey
So just have a trailing car following you at all times. Is that kind of how it is and like a group of guys.

00:28:19:16 – 00:28:26:01
David Parnes
We what we film. Yeah it’s pretty it’s pretty, it’s, it’s a production but it’s great and I wouldn’t change it. I wouldn’t have it any other way. It’s, it’s great fun.

00:28:27:00 – 00:28:46:20
Daniel Ramsey
Okay, so what are the things that you’re looking for? We’re almost done. And Daniel Del Real says he loved what you said. A lot of people are trying to build a business in order to delegate all the work. But the reality is you have to work hard, which will forge smart and develop yourself. So I love his comments.

00:28:46:20 – 00:29:10:02
Daniel Ramsey
He’s giving you props. You saying he loves your work ethic and what you do. What what would you leave our audience with? Like, what are the best? David lessons, you know, in this game, if somebody is trying to make that change over into a luxury or or $1,000,000 agent, what are some of the lessons that you would you would want to leave our audience with today?

00:29:10:12 – 00:29:36:08
David Parnes
I think the facts are very simple. We’re in a proven industry. We’re not we’re not, you know, doing something that hasn’t been done. Many times before. That basically means that if there are successful people in big, as in the industry, that they’ve proven it can be done. So knowing that information that it can be done, as long as your mindset is right and you’re determined to work very hard and never give up and stay, stick with a formula.

00:29:36:08 – 00:29:58:20
David Parnes
You know, even when you’re in a down market or even when you’re you’ve got no inventory or no listings, that’s when you’re building a pipeline. That’s where you’re going to find yourself working your hardest. And when you hit a run, you hit a run. And I believe that in a proven industry, such as being a real estate agent, I believe that if you don’t give up and you work hard and you believe in yourself and you’re honest and ethical, there’s no reason why you will ever become the best.

00:29:59:00 – 00:29:59:16
David Parnes
Simple as that.

00:30:00:05 – 00:30:06:09
Daniel Ramsey
Right. And what are the what are the things that you see? People fail when they try to get into your into your space.

00:30:06:09 – 00:30:24:02
David Parnes
Or I think they just give up. I think it’s just not I think it’s giving up and maybe not working hard enough, not believing themselves, not being good to their clients and true to their clients and true to themselves. I think, you know, it is a general, you know, it could be any of those situations. But I think that, you know, if you stick to that formula, you will succeed.

00:30:24:16 – 00:30:39:13
Daniel Ramsey
Yep. David Parnes, thank you so much for your time today. It’s been great. Appreciate you bringing your dog on camera. Yes. Yes, I love that. Yeah, yeah, yeah. And you’re a rock star. Thanks again for being here today.

00:30:39:13 – 00:30:42:22
David Parnes
Thank you. Thank you. Have a wonderful day. Thank you so much for having me on.

00:30:43:06 – 00:30:44:04
Daniel Ramsey
Yeah. All right.