When it comes to reading the tea leaves of the real estate market, most agents (yes, even the ultra-high-end ones) haven’t got a clue. Sure, they may sound like they know what they’re talking about, but when it comes down to it, they may as well just roll some dice. In fact, the more certain they are, the less they seem to know.
That’s because the economics driving the real estate market is so complicated that it would take a Ph.D. to understand it. Luckily, we happen to know Chad Nash, a Denver agent who has advanced degrees in economics and data analyses.
That’s why we decided to sit down with Chad and pick his brain about what advice he has for new agents, real estate tech, and how recent events might play out in your farm area.
Sean Moudry:
So welcome, Closers, it’s Sean Moudry, and I’m excited to introduce you to the Doctor of Real Estate, Dr. Chad Nash in Denver, Colorado. Welcome, Chad.
Chad Nash:
How are you doing, Sean?
Sean Moudry:
Hey, it’s good to see you. Many of you don’t know this, but Chad and I have known each other for a while. I consider him a friend. So it is an honor to get the opportunity to interview him. I’d love to start out with you telling us a little bit about how long you’ve been in real estate.
Chad Nash:
Absolutely. Well, first I want to say, Sean, thank you for the opportunity to just come and chat with you. I know we’ve had plenty of conversations. This is always a good time to talk on video with you. You look like a movie star over there. So I started in my third year in real estate in March. So I guess you can probably say about two and a half years, per se.
Sean Moudry:
And out of nowhere, man. You are a social media legend already out there.
Chad Nash:
It’s easy to make up greatness on social media, I guess.
Sean Moudry:
That’s right. So share with the viewers a little bit about what intrigued you about real estate. Why did you get into real estate?
Chad Nash:
Absolutely. I guess it’s two-pronged. Prior to real estate, I was a lifelong educator. I worked in the education space. My passion has always been helping people, particularly helping youth and young adults achieve their dreams in the education system. So I’ve always had that servant’s heart, that servant’s mentality. At least I like to think that I have.
And by circumstance, a couple of years ago, the school district that I was working for went through a drastic reorganization. It was in that moment that kind of a lifelong dream was pulled from me—what I really enjoyed doing—and they wanted me to do something totally different. That put the spark in my head of, “Are there any other avenues professionally that I should be looking at that I can always protect my dream, protect my ambition, protect my aspirations, in helping people?” So right around the same time, it was through some conversations with mentors.
The area that I live in in Denver, Colorado, is Far Northeast Denver. As you know, Sean, back when the recession hit, Green Valley Ranch, Montbello, those areas were ravished, per se, and we had like 70% foreclosures at one point in time. My dad was a product of that. So my family went through that. I just remember at the time it didn’t make a lot of sense, right? But I remembered that hopeless feeling of, “This is your shelter. This is your livelihood. This is your home.” And just seeing droves and droves of people being forced out of their home because of foreclosure.
So when I fast forward back to that life change professionally, I always had the passion for education because I believe in social mobility through education. But then I harken back to this idea of ownership, ownership in real estate and having the ability to hold and own something that you call your own. Then even when you look at some of the wealthiest families, even middle class, high-class population, it’s all about ownership.
Sean Moudry:
That’s right.
Chad Nash:
Education can get you so far, but at the end of the day, accumulation of ownership is a prelude to creating an accumulation of wealth, however you define wealth. It doesn’t have to just be monetarily, but it’s “I own this. I’m building this and this is both protecting me and it’s providing a return by owning something.” So that’s what prompted me to get into real estate I think, because I was able to reshift from education to now going to an industry where it was about helping people, it was about creating social mobility, and I took that lens to real estate and said, “OK, I want to help create social mobility through real estate.”
Sean Moudry:
So one of the things that you said is, “Social mobility through education,” and now you’re shifting to social mobility through real estate, and that’s a very unique term, social mobility? Very specific term, right? So share with us a little bit about your background, because I introduced you as Dr. Chad Nash. So share with us about your importance of education and how that path was for you, because that’s a very unique path. Many real estate agents don’t have a Ph.D.
Chad Nash:
Absolutely. My mom still says Ph.D. means piled higher and deeper in bull crap. So I don’t know how much it’s worth to most people. But I’ll be transparent with you, Sean. So again, harken it back to Montbello, the time that we were growing up, that I was growing up, it wasn’t the cookie-cutter, all-American community. There were a lot of things that we had to go through and I was susceptible to a lot of those dynamics. I graduated high school with a 1.97 GPA. What prompted me to go into education was the summer when I graduated high school. I had a couple of mentors who basically sat me down and said, “Look, if you keep on this path that you’re on—like your friends that are not doing anything, and they’re going to go work at Teletech or Sprint for those $10 jobs, and just not really do anything—that’s going to be your life.”
They got me onto the junior college path, because I never took the SAT, I never took the ACT. I was going to go make my $10, $15 an hour a year and I was going to be rich off that, right? So you kind of fast forward. I was lucky to interact with a ton of great mentors through my educational journey. So I did my undergrad at the University of Northern Colorado, met some of my lifelong mentors that to this day I still call on there. There were opportunities that were then afforded to me to go on to grad school. I went to grad school first at Arizona State University. Go Sun Devils. I did my masters in higher education there. Then I did my Ph.D. in research and evaluation methods at the University of Colorado. So go Bucks. What I tell people is it wasn’t because I was a nerd. It wasn’t because I ever liked school that I went so far.
So when we talk about this idea of social mobility, I knew, or at least I bought into that mindset, that pursuing education will increase the probability of living out that American dream, right? You go to school, you go to college, you can be all that you can be. Not to take the saying from the Army, but you can be all that you can be if you go the education route. So I ended up getting my Ph.D. not because I was nerdy and loved it, but it was a tool for social mobility. It was a hustle to me. It was to say, “Hey look, if this is what I need to be able to get into every part of society with this credential and not have somebody tell that I can’t do something —”
Because you have to remember, I’m coming from an environment where we were always told, “Hey, it’s either going to be athletics, or entertainment, or you’ve got to go work a blue collar job.” It was never really big aspirations, and I never wanted somebody to tell me that. So that was my path through education, and that’s where that passion for always wanting to give back to the youth, especially those who look like me, came from similar communities, to say, “Hey look, if I can do it with a 1.97 GPA, then you’re 10 times smarter than me. So you can do it too.” And I just always wanted to provide that hope. That was our belief. We believe that social mobility was to be achieved through education.
Sean Moudry:
That’s awesome. So now you’re taking that same message, social mobility, and you’re applying it to your real estate business, right? Your passion tied to your real estate business. I think that’s where so many people get lost in real estate. I think they lose sight of their compass, their focus, their reason that they got into the business in the first place.
I love that you keep going back to that, and that story is powerful. So on the topic of social mobility, we’ve got this circumstance right now with Black Lives Matter that’s going on, and I hate to use the term “awakening,” but it really is kind of a new awareness, right? So what has that impact been, obviously, in your life? What has the impact been for you, and where do you see it going as far as in the real estate industry? How do you see us making a change in the real estate industry?
Chad Nash:
Absolutely. Let me preface this by saying, Sean, and I know you’ve heard me say this plenty of times before. I am a Black man. I’m a young Black man. Well, maybe not that young anymore, but I’m a Black man. But I don’t ever want my voice to speak for my entire population. But with that said, I think I have my own opinions about it. The Black Lives Matter movement, no matter where you fall at, how left you are, how moderate you are, how right you are, the Black Lives movement, not the organization Black Lives Matter, but the Black Lives Matter, just the philosophical connotation of it is important to me.
I think it’s important to our society because it’s uncovering and highlighting to say, “Hey look, how can we take steps in our own lives to create a more equitable and just society and a way of living, or a population and a demographic, that’s historically been oppressed?”
In my mind, as naive as it may sound, I think that Black Lives Matter, even though people get into this dichotomy of, “All lives matter. Black Lives Matter.” I think it’s a false dichotomy. It doesn’t need to be that way. But I actually believe that Black Lives Matter is just a battle cry for social justice. Whether that’s you’re Hispanic, whether that’s you’re Native American, whether that’s you’re working class, lower class, poor.
I think it’s unfortunate that people just see race when they hear “Black,” because that’s obviously what it’s affiliated, but it’s to say, “Hey look, we have some inequities in this country that we need to systematically address,” and I’m proud to support that. Now, I think what’s hurtful is that philosophical way of saying Black Lives Matter is also, and this is just me, I feel like it’s also conflated with the Black Lives Matter organization. Which I think that’s where, in turn, some of the conflict comes, because they have, whether it’s just like a political party, or a company, they have their own certain principles that I don’t think every Black person is going to agree with. But I think the higher tenet and the philosophy of Black Lives Matter is important.
Sean Moudry:
Specific in real estate, and it’s interesting, because I was having a conversation with another coach of The Close, Chris, and we were having an offline conversation about the Black Lives Matter movement and how it relates to real estate. I had mentioned to him, I said, “I don’t really see the connection between the two.” Then we started getting into conversations about fair housing, rental practices, those kind of things, and it’s interesting because the neighborhood that you’re from, the Montbello neighborhood, I heavily invested in there for many years, and it all of a sudden occurred to me that the reason that I invested in there is because Section 8 paid much higher rates in that neighborhood than any other neighborhood in town. Therefore, just by itself, it’s creating part of the problem, right? It’s funneling low-income people into a ZIP code, right? As an investor, I never made that connection before that that is creating the problem.
Chad Nash:
Yeah, and thank you for acknowledging that, because what people don’t understand is that when you live in a system that is inherently systematically privileged, and you’re not racist, but it’s a racist practice based on race. We are blind to how we facilitate that. So I think you’re exactly right, and when you take the historical context, fair housing practices, as you mentioned, rental, when you think of the overt practice of redlining back in the 60s and now even the covert. I was watching, oh, my gosh, and I wished that I could have chimed you in on this Facebook post, because in my mind I’m just going to tell you the truth. I’m just going to be brutally honest. Real estate in itself, it’s so crazy coming from the education where we talk about race and gender and identity and all that.
We talk about that on the daily. We don’t talk about it in real estate much, which I think is your point. But real estate in itself is inherently one of the most racist discriminatory industries in our nation, and not because we are overtly practicing it, but when we think of ideas of communities we say, “Oh, that’s the Asian part of town. That’s the Hispanic part of town. That’s the Black side of town,” it becomes ingrained in the idea of community. When there are racial undertones of that in a community, it means the word of separation as well. “I have my community. They’re separate from my community.”
Sean Moudry:
Well, and a layer to that too is being a real estate agent and practicing the Fair Housing rules where we obviously, as a real estate professional, we can’t say, “That’s the Asian side of town,” right? We can’t. So when a client asks us a question specially about race, we can’t, because we don’t know how to address it. I’ve never been to a class that was like, “Here’s how to address that.” That would be a great class. We just don’t address it at all.
Chad Nash:
That would be a great class. I don’t mean to cut you off. We should do that class, I think.
Sean Moudry:
You and I, we could collaborate. So because we don’t address it we don’t talk about it. So then since we don’t talk about it, there’s no conversation about best practice, because I think going back to the Section 8 conversation, I think that was a program that was trying to do good that just ended up creating harm. Because if you think about what they were doing, they were like, “Hey, we need to get more investors to invest in Section 8 housing” to create more housing for low-income families. But what they did is they paid higher in lower-incomes areas where the houses were cheaper and the rents were higher. So for an investor that’s looking for cash flow, then what do we do is we buy up the available inventory, so now there are less homes available for people to have the opportunity of homeownership, which I think you and I agree, that’s the number one way to build wealth in America, right?
Chad Nash:
Absolutely.
Sean Moudry:
Then here is an investor inadvertently taking away those opportunities from people who live in those communities.
Chad Nash:
Absolutely. You hit it right on the head, because when we think of what ownership is supposed to be is, “Hey, I invest and the fruits of my investment are paid back in equity and legacy and ownership and things of that sort.” So I’m going to even take it one step further. We look at the Affordable Housing program in Denver now. So let’s move beyond Section 8, or we look at this new Affordable Housing program. What is it, Elevate? Have you heard of this one?
Sean Moudry:
I’m not up-to-speed on it, no.
Chad Nash:
It’s like the land trust, right? Then you look at all these programs, and where we had even thought about social investing in real estate investment to make affordable housing. Well, what does that do? They’re great on the surface. It’s like you mentioned with Section 8, but what do you say when the parameters is, “Hey, if you sell this house within 10 years, half of your equity has to go to Joe Schmoe or with the Denver Affordable Housing,” where you saw this whole thing with Green Valley Ranch a couple years ago with all those affordable housing. These folks moved in, Green Valley Ranch skyrocketed because of the things coming out here, but they couldn’t tap into their equity.
Sean Moudry:
They were having to sell for 75 cents on the dollar compared to everybody else.
Chad Nash:
Exactly. So when you talk about these systematic things that are put into place for good, but are they really resulting in how we think about ownership?
Sean Moudry:
And to clarify for our listeners, the reason that was frustrating for people is they had purchased the houses out of foreclosure. So they didn’t know when they purchased them that they were designated as Affordable Housing until after they had bought them. Then they found out they were designated Affordable Housing—the banks didn’t disclose it. The banks might not even have known, and then now their equity position was—I think they could only earn 5% per year when the rest of the market was going up 14%, 15%, 16%. That would be extremely frustrating. Which is different if you bought knowing that’s that case. I think that there’s some healthy balance in there, but it does put you in a position where you just can’t move, right?
Chad Nash:
You can’t move. So even when you think about some of, and we won’t just talk about Denver, but most Affordable Housing programs across the nation ran by cities, they tell you just the same thing you’re saying, “You can only sell your house at X increment per year. We don’t care what the appreciation is in that area.” So now you’re forced to stay, and to me it’s just like another form of renting in some way, shape, or form, because you’re not enjoying the spoils of true ownership.
Sean Moudry:
Yeah, I think that’s fair. A favorable solution I think is the programs, the down payment assistance programs, the Silent Second programs, where you have the ability to earn the equity over time.
Chad Nash:
Absolutely. I agree 110%, because there’s no cap. There’s no cap on them. It’s a booster up. It’s a helpful boost to get into ownership and you’re not capped off.
Sean Moudry:
That’s great. So let’s talk a minute about the pandemic since we’re on kind of the title topics of what’s going on in current America. It felt like there for a while we were coming out of the pandemic, and it looks like there’s a resurgence. Thanks, Fauci, for calling that one, huh?
Chad Nash:
Whenever I see his face on TV I just cringe, because I know something bad is coming when he’s saying it.
Sean Moudry:
Yeah, it’s scary, at least in the market that we’re in in Denver, Colorado. The inventory’s extremely low values are relatively stable still. Do you foresee that? Do you have any concerns about the future of values?
Chad Nash:
So a two-part answer to that question, because I think one side of it is just pure economics, and when we talk about Denver—you know the stats just as well if not better, two times better than I do, but at one point in time we were six to seven months of shortage in inventory.
What I tell a lot of my clients is that, “Look, from a purely economic supply and demand perspective, when you talk about values, we have a lot of fat that we have to still clog through before we start to even see the economic principles of supply and demand lower home prices, because the inventory was so short already.” So to me, in my mind, even in a normal market, we may have already started to see this stabilization leveling off. We still have so much shortage on demand that it keeps it stable. It’s like padding, right?
But now I think to the second part of that, and I would love to just have more of a thought conversation with you, but I’m not an expert here.
Given the dynamics that we see with the layoffs and furloughs, it’s hard to imagine that we’re going to come out of this just completely unscathed and not see some kind of economic impact on real estate. Now, you have lived through the recession of 2008, you probably have a better idea of what it looks like when we’re going into a recession, but obviously I know we have more government programs propping people up with these forbearance and things of that sort, but that’s not everybody. And we are at record numbers of unemployment, or some form of unemployment. So even if it’s propping up half of those people, it’s still going to be a big majority of people that’s going to be impacted by this.
I don’t know. I feel like the market right now is as hot as I’ve seen it in terms of competitiveness, but I don’t think we have begun to feel the real residual impact of COVID yet. I think that’s, as you mentioned, going into the fall, this resurgence, I think we still got a long way to go. I tell my clients, I think we were kind of in a fallacy market right after COVID hit, because as you know, there was so much demand pent up that it created like this illusional market. Now, when that starts to soften out as it does in any typical fall market, plus a fall market with COVID, plus a fall market with more unemployment, that’s what I’ll be interested to see.
Sean Moudry:
What I haven’t heard is I haven’t heard of any more stimulus coming, right? So if we hit a phase two of COVID without a stimulus program, there’s a lot of questions there.
Chad Nash:
It’s sink or swim then.
Sean Moudry:
And to answer your question about the differences between 2009 and today, there’s so many differences that I don’t think you can relate the two. Prior to 2009 the government didn’t try to stimulate the economy prerecession. I did a lot of research on that and never in history have I found where they prestimulated prerecession.
Chad Nash:
Got you.
Sean Moudry:
So I think from an economic standpoint, I don’t know if you could figure it out. I think it’s going to be an interesting ride.
Chad Nash:
Got you.
Sean Moudry:
So let me ask you this, because you’re having, like you said, you’re not new to real estate, but you’ve got a few less years than me in the business, and you are doing an outstanding job. Your business is growing year over year, you’re growing your team, you’re getting a lot of eyeballs on you through social media and through some local publications. So what advice would you give a real estate agent today? And it doesn’t have to be like a brand-new agent, but if you were to be talking to an agent today who’s like, “Hey, Chad, I admire what you’ve done in such a short period of time,” what maybe two or three pieces of advice would you give them?
Chad Nash:
I think that’s a great question, because I had three things that popped in. First, so I get a lot of younger agents that come to me right now, and I’m sure you have gotten this tons as well as a very successful coach. They come to me and they say, “Chad, is it a good time for us to get into real estate? I’ve been thinking about it. Is it a good time?” Honestly, and counter me if you think I’m wrong on any of this, Sean. When I got into real estate—I almost feel like I’m part of the old guard now, even though I’m young in it, because I got in when we talked about door knocking, open houses, and all the traditional things that they’ve been doing for years. So those were my learning models, even though I didn’t do all of them.
Now I tell younger agents like, “Look, you’ve got Sean Moudry who’s done it for years, he’s been successful, but he’s done it the old way.” So now COVID has kind of manufactured a shift in paradigm in how we do real estate for everybody. So it’s great for younger agents who are getting in, because it’s almost like, “Yeah, we might have a little bit more wisdom. Sean has 10 times more wisdom than me. I have two, three years more wisdom than a new Realtor, but we’re all kind of starting over in how we’re going to do business in this industry.” Does that make sense? So we’re all kind of at this competitive level where it’s like, “Who can learn —” So the first thing would be: learn how to leverage technology. That’s number one. Learn how to leverage technology, because that’s going to put you into this next generation of how business is being done.
Sean Moudry:
Can you be a little more specific on what you mean by that? Because I think that term, “technology,” is overused, and then the term, “leverage,” is overused.
Chad Nash:
Oh, man.
Sean Moudry:
So if you can be more specific on both of those terms and what you mean by leverage technology.
Chad Nash:
Absolutely. So relationships still matter. This is a relationship-driven business. There’s no way around that. But a lot of Realtors were doing pop buys. We have to be in front of our client to do a listing presentation, or we have to be with them. I think pre-COVID, the clients wanted that because it was a signal that you cared. Well, now their expectation is to say, “Hey, people are trying to do things a little bit less impersonable. How can we still get the job done? Maybe we don’t have to go to the two-hour coffee and talk about this.” So learning things like how to leverage Zoom and online listing presentations and how to leverage your CRM.
That’s one of the big things for me—is how to utilize a CRM and stay in touch from a technology standpoint and utilize that to engage. How do you do client appreciation type of deals without having—I know you’re all the way against this, because we talked about this—without having to do those events in person.
Now you get a better ROI if you learn how to do client engagement appreciation and acknowledgment or build community via electronics. One thing that we’re thinking about doing, taking these homebuyer and home selling seminars, do it virtually. You don’t have to go. You don’t have to buy a whole bunch of stuff. People will tune in for their 20, 30 minutes and they can log right off and be off to their other thing. So I think just shifting that is big.
Sean Moudry:
I love that. So that’s one.
Chad Nash:
The second one would be social media. I wouldn’t even say it’s social media. But along the same lines as the technology piece. Agents really need to be aware of what I call their online resume. It’s not what I call it, but it’s what a lot of people call it, online resume. When I look up Sean on Google, what am I seeing? When I look up Sean on his Facebook, what am I seeing? Because now we are so technology-based and we work quick off of, “Does he look good? Does he have good reviews? OK, let’s call him.” So really making sure you’re building that online resume, and part of that is through social media.
Sean Moudry:
What social media platforms do you recommend right now?
Chad Nash:
So tell me if you’ve seen this statistic, OK? Now, I’m a big Facebook user, and honest-to-God, Facebook has driven a lot of my business. I may have even told you—a couple of months ago I got hacked on Facebook and I had to start over a new account. That’s why I had to add you. I literally cried. I cried, because I knew how important Facebook was to my business. Just for my testimonials, my listing videos. I just knew how important it was. I’m a big Facebook person. I think for my generation that’s kind of the go-to. But I read an interesting statistic, and I’ll talk about the other two in a second. I read an interesting statistic. There’s a young lady in my office and she was on a well-known show, right? She showed me a statistic, and she’s a social influencer, right?
She has like 80,000 followers, whatever, but the statistic said that Millennials and younger generations have said that they’re 70% more likely to buy or sell real estate if they consider the person to be a, quote unquote, social influencer. So it’s not about, “Man, Sean knows the market.” I’m like, “Yeah, you’ve got to know that stuff,” but it becomes who’s out there, who’s visible? Who’s making their brand attractive that they want to work with. I have a good friend, you probably know this, Shawn Leland with Compass as well. The running joke now is that a lot of people are like, “Ah, that handsome or cute Realtor that’s always doing the videos.”
He’s just kind of built this image, and I think that took me a long way harnessing that. Now, I also think that depending on how you want to niche it out. So for me, because I do like to try to leverage that Ph.D. to get into professional communities, I use a lot of LinkedIn as well, because I think that LinkedIn, while Facebook is kind of middle-of-the-road, IG is younger population, I think LinkedIn, while it’s not as click-click-clicky, and I don’t want to categorized, but I would say if you’re saying, “OK, I want to get into the doctors and the lawyers and maybe try my hand in the luxury spaces and network with the CEOs and things of that sort,” then I found it to be an effective avenue.
Sean Moudry:
Awesome.
Chad Nash:
They’re not so much on their “Like, like, liking,” but they’re on there more than they are on Facebook, and they’re definitely on there more than they are on IG, right? I think it’s a more cerebral way of looking at like, “OK, what is this Realtor about?” That’s where I really step up my game is on LinkedIn when I’m talking about data and numbers and the nerdy part of real estate, right?
Sean Moudry:
So you’re crafting your message based on the platform.
Chad Nash:
Yeah.
Sean Moudry:
So a different message on Facebook to a different demographic than your LinkedIn message?
Chad Nash:
Yup, I do. I do, and I just try to be a little bit more, not even sophisticated, but again, more how we can have these very high-level conversations, and I try to keep those on LinkedIn, because there’s not a lot of back and forth, not a lot of debate, it’s just cerebral. You put stuff on Facebook, as you see, it becomes, oh, my God. You know what you set yourself up for, and that’s really just a—I don’t know. It’s great for social branding and social proof, but it’s not great for super-high-level conversations, because inevitably Aaron is going to come on and then Aaron and Bob are going at it.
Sean Moudry:
I think I heard it in Gary Vaynerchuk’s book “Crush It,” and he referenced Facebook as kind of like the entertainment channel, Instagram’s the magazine, like you’re flipping through a magazine, and LinkedIn is more about articles, right? Like you want to read or do research.
Chad Nash:
Yes, and I think that’s exactly right. The third thing, and I know I’m probably running short on time here, I tell agents, and we’ve talked about this before I know as well. So my previous career was in fundraising in community development. CRMs were the norm, right? So I came up in a model where CRMs were used in our everyday life, and people ask me what was my biggest competitive advantage when I got into real estate. I think that I came in not knowing any better that we shouldn’t use this, that some Realtors don’t use a CRM.
Sean Moudry:
Most Realtors don’t.
Chad Nash:
They don’t, and to this day it blows my mind, because I say, “It’s not so much that you have to have a big CRM, but it’s as we talked about before, getting your systems and structures and everything plugged in can just make your life so much easier.” When you put things on, “When am I supposed to reach out? What can I reach out? What content can I have? This pipeline over here, I should do this. This pipeline over here, I should do that.” I think CRM training upfront, upfront, upfront, upfront. Not saying, “Oh, just use Excel sheets until you get a big day.” No. If you only got four people, put them in your CRM and start to build it, and everything goes into your CRM and then that becomes your business. That is your gold mine.
Sean Moudry:
Now the obvious question is, what’s your favorite CRM?
Chad Nash:
Right now I’m using Chime. Now, Chime, it’s complex, right? So you kind of step up. I was with Contactually initially, and a funny story is I was with Contactually to start off because it was easy, simple to use—it had the buckets, right? The buckets tell you when you need to reach out, whatever. Then I found out that Compass was buying Contactually and I was like, “Hell, nah, I’m not going to have my database aligned with this company Compass.” I was with RE/MAX at the time. So then I got rid of Contactually and I stumbled upon Chime, which I think is a little bit more intensive, but I think it’s a little bit more high power. Sure enough, I ended up at Compass. But I never went back to Compass’ CRM. I think it’s a little outdated, and I think that a basic CRM can get you going, but a great CRM—it can get you going far.
Sean Moudry:
Nice.
Chad Nash:
I think when you start thinking about the Chimes and the BoomTowns, and when you’re a major player like you and you’ve got a big team over there as you’ve experienced, you need a little bit more high-power CRMs. In my mind.
Sean Moudry:
I agree with you. I always tell agents to start off with something basic. I love Contactually as a place to start. It’s such a simple system. It makes sense. It’s very logical. It’s a great place to start. Then, as you have needs, you get layers of, “Oh, I wish it would do this,” or, “I wish it would do that,” or running multiple funnels or funnels that link to each other. It’s challenging. I haven’t investigated Chime, but I’m definitely going to look into it.
Chad Nash:
I love it. I do. I love Chime to death. I do.
Sean Moudry:
That’s awesome. Well, Chad, we are at the end of our time. Is there anything else you want to share with anybody out there?
Chad Nash:
No, man. I appreciate it. I appreciate you just giving me the platform to kind of speak about my stuff, but also some of things going on in the world that are near and dear to my heart, and, man, I love watching you do what you do. You’re a big mentor to me. So thank you —
Sean Moudry:
Thank you.
Chad Nash:
— for just continuing to set an example and giving back to younger agents such as myself.
Sean Moudry:
You’re not that much younger.
Chad Nash:
Well, you look like you’re 25, man. I’m over here, I probably look older than you do.
Sean Moudry:
I don’t know about that. Awesome. Chad Nash, Ph.D., Doctor of Real Estate. Thank you for being here.
Chad Nash:
Appreciate it. Thank you, Sean.
Sean Moudry:
Awesome.
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