Ep 04 – David Siddons: Grow your real estate business by being customer-centricThe Real Estate Pipeline / July 5, 2022 / By: Carlos Concepcion
In this episode, Carlos talks with David Siddons, the leader of the highly successful David Siddons Group. David is a consistent top-producing agent whose incredible command of the market, commitment to his clients, and creative mind have firmly placed him in the top echelon of luxury real estate professionals and earned recognition as one of Miami’s top 20 agents and in the top 0.1% nationwide.
Since the inception of his career over a decade ago, David has been driven by a singular vision, to help his clients make the best and most informed decisions and to always be available to step in and deliver outstanding results. He has consistently led his team as they crushed goals and built a stellar reputation among South Florida’s most elite, power-player clientele.
Carlos: Hi, welcome to another episode of the pipeline. My name is Carlos Concepcion and I’m the chief sales officer at IDXBoost. Today I have a very special guest coming to the show. His name is David Siddons. He’s the owner and president of the David Siddons Group, a top real estate team in South Florida. And like he likes to say, he’s a forever child and student of the real estate industry accidentally.
David: So I guess my title is president of David’s Siddons Group. I run the real estate team here in South Florida that covers Miami and Broward. My official title is president, but I feel more like a child of real estate. That ever-evolving, ever-learning person trying to understand the needs and the wants of the business better.
I set my team up back in 2010. I think most people know me now for my videos, reports, articles, and just general real estate content. We always say we’re trying to educate people in the business, not just give information, but really educate. So I started doing articles back in 2010, 2011. Started doing blogs shortly after. It was one of the earlier producers of content in the real estate space with videos, and then as it progressed, developed into software as well. So now it’s a combination of articles, videos, reports, and software. We have a team now of 11 people.
Carlos: That’s amazing David, you will be surprised how many come through our offices every day and say “Hey, I want to be like him. I want to do what David is doing”. What has been the mission behind the David Siddons Group and why were you the first show on a venture into these, for real estate?
David: My mission started honestly out of pure frustration. And the more it went on, the more I understood why I was doing what I was doing, I was really driven by a cause and a direction in the business. So the frustration was the lack of information out there. And I started this because I was trying to give clearer optics into the business. And I think it started when there was an article, a video, um, that I was one of the first videos produced off the back of a report. I talked about the fact that so much of the data that was being put out, some of the reports that were being produced were not being produced by people actually selling real estate. They were produced by analysts. And I think that’s probably true still today. In many cases, there’s a lot of production of numbers. A lot of productions of data, a lot of stuff that just goes out there, but it’s not really actionable. So I built something out of pure frustration, which was: how can I give better education by writing reports? And I started to build a social narrative. Those who now follow me today, think that a lot of the stuff that goes on is information designed to educate. But a lot of it is really me just trying to go down a rabbit hole and figure out: What do these things mean? I’m exploring, I’m learning.
And this is a really very key part of my journey that now I’m trying to evolve. I’m trying to go to the position where I’m like: I don’t have all the answers because they change every day. Human behavior changes all the time and we’re trying to move sideways into the market and lean into it to understand why are people doing what they’re doing and what are they going to do next, and what’s the market going to do next. I guess it’s a process of learning, education, creating reports, and moving forward. And that’s what you guys helped me with. You helped me verbalize the inner processes that we’ve got and doing videos like this, which is really a lot less, um, curated, shall we say than typical videos that you see? It was one of the things that I realized the authenticity, and the vulnerability of ourselves as marketers have to come out. You can’t profess to have all the answers, but you’re just trying to go down that void of discovery with your readers, with your watchers, with your clients, to figure out the best answers, the best solutions, and help people make the best possible decisions.
Carlos: After all, I think that is ultimately providing value and that’s one of the things that you know how to do very well. All the content that you produce is intended with providing value to make your clients make more educated decisions. Of course, now, as a team leader, and as a business owner, what are the current challenges that you see on the market?
David: So we’re sitting in May 2022 and I think one of the biggest challenges in real estate right now in Miami is that we have a lot of people wanting to move into Miami and into Broward. And we have a lot of sellers who don’t want to move out. So it’s kind of like, it feels like a freeway with cars coming in and no one’s leaving.
So the key now, I think the challenge for most of us professionals, is you’ve got to provide a solution to that problem before you start getting into the less-list your home and sell it. Buyers in truth, really aren’t the issue. I mean, I think most agents, I know have plenty of buyers, people calling every single day saying “I want to buy real estate”.
The challenge is finding real estate. And I think as we’re down to like a month and a half of his inventory in most neighborhoods, the problem then becomes of how do I find the right property, and if I do find the right property, how do I not overpay? How do I not get into what we call rich people’s fight club environment, where we’re just bidding against other human beings and then we’re paying outside and above the market? And that is a real concern.
And as we see fed rates increase now, we see interest rates going up. A lot of the market is reacting to what they see globally. There are a lot of concerns over what we see worldwide and fragility as maybe some cracks in the system that people think: How do I still feel bullish? How do I pay such a high premium for real estate in what now feels like a peak? How do I not overpay and suddenly go, now the market’s corrected, and then I spent much more than I should?
And at the same time, how do we also educate? We had people last year and the year before who said, you know, “This market’s a little crazy, I don’t want to take part in this game, I’m going to wait” And guess what happened? The market went up and they lost out another price out of the market. So on one side, there’s a fear of losing out, which is a normal human fear. And on the other side, there’s the fear of paying at a peak and overpaying. And that’s the bind psychology, the selling psychology: If I sell, where do I go? What’s my next move? How do I make a smart decision? Because if I’ve made all this money when I sell, I don’t want to just lose that advantage by just buying the next thing out there, or even worse, just straight up being kind of without a home to move into and then getting caught in the rental trap.
So it’s quite an emotional time. And I think that the human emotional side of this is something that we probably don’t talk about a lot. I think empathy and the industry are often overshadowed by the glossiness that exists within theVindustry. We’re trying to be customer-centric focused.
Carlos: I think pretty much everything that we do is to get to the bottom of it and connect humans to humans. And I think that the best way of doing that is by providing authentic value through the content that you create, which is there to support your clients and your partners in their decision-making. I do see everything that you mentioned throughout the nation with other markets that we see where the market is exactly as you described, the inventory, the market is exactly what you mentioned for sellers and buyers. So it doesn’t come as a surprise.
I want to ask you something for those agents who are just starting their businesses. What are the best practices for you as a business owner, for them to grow and increase their sales and maybe get higher financial returns year over year?
David: I think that when you become client-focused, and I know it sounds like a very easy thing to say, when you really think and closely figure out the markets of whatever market you’re going to sell, really think about what people need, really try to figure out what people want and need and try to provide that to that client base, try to provide the education, the information to them.
Do not try to take without giving. Do not even try to take, just give, I think if you start to openly give that information and you’re trying to add value, I mean our business slogan, which I lean into all the time, every single day is “help clients make a better decision and do what they can’t”. It’s very important to stay true in the industry. Stay true to why you’re doing this. I think the cause of everything is that there’s a point where if you look at the top producers, you don’t get up in the morning because you’re like “I want to sell a house and I want to make my bank account bigger”. That is not going to work. That’s not going to provide a lot of satisfaction. It’s going to feel very empty. The transparency is going to be seen through very, very quickly. I think the more energy you put into adding value to your client relationships, to the people that you’re helping, and really take time to listen.
Listen to what your clients tell you that they need. Often they can be screaming messages. You know, “This is what I need, stop telling me I need to sell my house. I’m telling you, this is what I need”. The more you do that, the more you lean into that, I think that’s when you start to get the returns and the rewards that you’re going to get.
We tend to look at technology and software and digital marketing as automatic. “If I just do it this way, it’s going to work”. Behind everything in your business, in my business, is human beings with needs. And I think that the more you can recognize that and figure out how to satisfy those needs, the better you’re going to be. There’s no shortcut. We live in a world of “take the diet pill and get slim, do this, adopt this software and become a millionaire, overnight success, etc.” There’s no such thing as overnight success.
Carlos: Yeah, for anybody to a lot of our clients that come through still, I still show and go back to one of your initial videos where you’re in camera. You’re like, “Do what nobody else can, you should go out there and find the information for them, and you should be doing what nobody else is doing for your clients”.
David: You’ve got to fall in love with the process. I recommend Trem because you guys are always the eternal children, the eternal students, you’re always trying to find a new way to fix an ever-changing human state and human problems, needs, and wants. So, you know, Carlos, thank you. I love doing this, and let’s do it again.
More about The Pipeline
The Pipeline is a conversational podcast hosted by Carlos Concepción, Chief Sales Officer at www.idxboost.com, a real estate business accelerator platform that combines the power of innovative technology, proven marketing strategies, and experts working alongside.
IDXBoost has scaled real estate professionals to 9-figures in yearly sales, by helping them boost their brands, dominate their local markets faster and generate higher financial returns year over year.
The Pipeline’s goal is to share knowledge and provide awareness of how top real estate producers leverage the internet’s power to achieve their business goals nationwide.