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In this episode Brendan and Jack are joined by Joe Herrera and Taylor Prince from the Joe and Taylor Group as they discuss The Brendan King Group joining REAL Broker LLC as well as the big announcement that Las Vegas is getting to host Super Bowl LVIII in 2024. And McCarran renamed Harry Reid International Airport in Las Vegas, Fed meeting announcement: Federal Reserve to hike interest rate faster, Rent has increased 27% in Las Vegas this year, MGM selling Mirage operations to Hard Rock for over $1B, Lee Canyon gets 17 inches of snow, preps opening of Rabbit Peak chairlift, Raiders Vs. Browns Week 15, Restaurant giveaway in Huntridge area of downtown Las Vegas, The Best New Restaurants in Las Vegas, #1 is Kono's Northshore and 'Garth Brooks: The One Man Show' coming to Las Vegas Strip!
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Brendan King
S.0171492
Jack Palermo
S.0182508
The Brendan King Group
Office: 702-625-3457
Email: info@kingvegashomes.com
Website: https://www.kingvegashomes.com/
Real Broker, LLC
7997 W. Sahara Ave. #101
Las Vegas, NV 89117
Youtube: https://www.youtube.com/c/Kingvegashomes
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This is transcribed (accuracy not guaranteed)
BrendanKing(00:36): Hey, what's up everybody. It's episode number 24 of the Unnamed Show. It's Brendan King from the Brendan King Group at Real.
JackPalermo(00:44):Jack Palermo from the BrendanKing Group at Real.
BrendanKing(00:47):And we're joined by specialguests from the Joe Taylor Group at Real. So we got Joe Herrera and TaylorPrince here who are amazing agents, amazing broker owners, and honestly,amazing mentors for us in so many ways. What's up, guys?
JoeHerrera(01:05):What's up.
TaylorPrince(01:05):What's ups.
JoeHerrera(01:06):Happy to be here.
BrendanKing(01:06):Yeah, your office is beautiful.
JackPalermo(01:08):It's great.
BrendanKing(01:08):I love the neon sign, it'sreally big.
JoeHerrera(01:10):You know what's funny, everybodythinks that we brought in a designer, Taylor and I actually designed this placeourselves.
BrendanKing(01:15):Nice.
JackPalermo(01:16):Nice work, gentlemen, nice work.
BrendanKing(01:17):It's got like a chill, nicevibe. It's really cool.
TaylorPrince(01:19):Well, we do have Lisa, our frontdesk, is the Christmas vibe that's going right now, it's the best it's everbeen. You guys came at the right time.
BrendanKing(01:24):Oh, nice, she's got theChristmas game.
JackPalermo(01:27):Nice.
JoeHerrera(01:28):It's on point.
BrendanKing(01:28):Yeah. So obviously something bighappened for us recently. I know I shot you a text and-
JackPalermo(01:35):We made the move.
BrendanKing(01:36):We made the move. So we recentlymoved to a company called Real, and it's more than just a company honestly.When I had messaged Taylor, Taylor riddled off a long, long text. I ran intoJoe and it was weird, then I suddenly started seeing Joe all over the place. Iwas like, "We haven't seen each other in like two years." And it wasjust like, "Joe, what's up." So we made a move to a company that Ithink will change our game and I think it's changing a lot of people's gamesright now because it's more about a culture. Even behind this work hard, bekind, that's something I grew up, I feel like, my whole life, believing in. Andwhen I saw that related to Real, I thought that was just... it was kind of likekismet. I was like, "This is meant to be."
JackPalermo(02:19):Totally.
BrendanKing(02:20):But it's more to it than that,obviously. So, while we have what we feel is the team that got us to move, canyou describe a little more about what's different about Real compared to aregular brokerage, why people should be aware of what's happening?
JoeHerrera(02:38):Yeah. So Taylor and I have beena part of three or four different brokerages in our career, we've owned two ofthem. I think the biggest differences that I found is that Real Broker is not abrick-and-mortar place, it's not a relationship with an individual, it's anetwork. And the challenge we found either as members of a brokerage or ownersof a brokerage is this battle between the agent and the broker forprofitability. The more profitable a broker can be, the less profitable anagent is, the higher turnover rate there-
BrendanKing(03:10):And I was at Inman just beforethis all kind of started, well, I was already talking to you guys, but one ofthe guys on stage was a celebrity broker and he flat out said on stage,"Brokerages don't make money." And I was like, "He justannounced this at Inman, famous guy, Oppenheim from the Selling Sunset, whichthat is not real real estate, by the way.
JoeHerrera(03:29):It's not actual.
BrendanKing(03:31):But he literally said brokeragesdon't make money, and he said the old model is broke.
JoeHerrera(03:37):Yeah. And we found that the moreprofitable we were, the more turnover we had. So that was our pain point. Ourpain point owning a brokerage, we may have been one of the only ones that wereactually making money, but our pain point was turnover rate. We'd build theserelationships with agents and they'd look for a cheaper solution. If abrokerage doesn't have turnover, it's because they make no money, so peoplestay there forever because it's cheap. And so, we got out of that rat race,number one, because we wanted to get out of competition with our agents, so nolonger was our profitability versus their profitability. But the futurebrokerage is not a place, it's a network.
JoeHerrera(04:13):And so, the other thing is we'vebecome obsessed with collaboration, how do we work with the agents we careabout to help them be more profitable, not from a owner and an agent perspective,but from a collective shareholder position where it's like, "Hey, we're,in actuality, no better than any other agent, we're not any better thanBrendan. He's so good at a lot of things we can't do. Jack's so good at a lotof things we can't do. So what would happen if we just come together and formlike a power ranger type of experience where we create this massive momentummovement together where we're networking together, we're collaboratingtogether, we're growing together and our profitability is tied together?"
BrendanKing(04:53):And that's the part I loved. Iwent out to see Spring out in Utah, met a couple people out there. And thenequally, just talking to you guys, what I found is just in a few minutes ofchatting about all this, we were already like, "Oh, we could do thistogether, we could do that together." I'm from an entertainmentbackground, David's from an entertainment background, in entertainment, that'skind of the culture. You have people who are good at what they do and otherpeople are good with what they do, and you end up seeing each other in a lot ofprojects together, and business seems to work the same way. And real estatewasn't working that way, it was so odd, it was almost like this.
JackPalermo(05:27):Everybody helps each other out.I called you guys last week, I had a question about something and he's like,"Hey, reach out to Joe and Taylor," and you guys were so helpful.It's like one of those things, everybody wants to help each other, which isgreat.
TaylorPrince(05:37):Well, and that's, kind of toJoe's point, for us, we've been at this six months now, so I feel like in sixmonths, we've learned infinitely more than what we knew before. But the thingthat, probably the biggest, I think, difference to me into what Jack's saying,and Joe, and Brendan is, it's very linear when you think about... there's abook called the Who Not How, it's a very linear process to say-
BrendanKing(05:59):I actually have the book, but Ihaven't read it.
TaylorPrince(06:02):We're going to do another wholeshow about the Who Not How because that book is revolutionary, its lifechanging. But I think the how is very linear, but when you start talking aboutthe who, it becomes exponentially non-linear and just the connections, thecollaboration, that's what I found with Real, is just that collaboration andthat non-linear growth, that explosion, that multidimensional things that wenever knew were possible because of where we're at with the indie brokerage.
JoeHerrera(06:29):Well, and not knowing we weregoing to do this Real deal, no pun intended, we took our team to Tahiti inFebruary, we started looking at Real in March or April. So then I tied togetherthese two principles. So while we were in Tahiti, we were on the island ofMoorea. And Moorea-
BrendanKing(06:46):That's where I went for myhoneymoon.
JoeHerrera(06:48):Okay, so you know Moorea.
BrendanKing(06:50):So I've been to Moorea and BoraBora.
TaylorPrince(06:51):You still remember how to saythank you in Tahitian?
JoeHerrera(06:53):I don't remember.
TaylorPrince(06:55):Or hello was-
JoeHerrera(06:55):Māuruuru.
TaylorPrince(06:55):Māuruuru was something,māuruuru-
BrendanKing(06:58):If that's true. If that's right,let us know, if it's not, then tell us what the word-
JoeHerrera(07:05):So what happened is we went onan excursion where we hopped on a bunch of four-wheelers and we were touringthe pineapple fields.
BrendanKing(07:10):Yes, I did the same exact thing.
JoeHerrera(07:11):So in my mind, the islands ofTahiti were nothing but a bunch of pineapple fields. But while we were on thattrek, he stopped us and he said, "Moorea is the pineapple, that is what webring to the islands." And there's a whole nother island which is mangoes,and there's a whole nother island which has pigs, and there's a whole notherisland which does rice. So it was this group of islands who each became really,really good at things, then they collaborated together and formed this amazingcountry. And so, for us, now that's how we view real estate. It's no longer usbeing independent, eyes closed, competitive with everybody, it's now,"What does Brendan do that's great? What does Jack do this great? Whatdoes Spring do? What does Jared Fields, what are the [crosstalk 00:08:00]-”
BrendanKing(08:00):We've been meeting Spring everyWednesday. Every Wednesday morning we had signed up for a little thing whereevery Wednesday we spent an hour together and they've been breaking down allsorts of things that they do that we've added to our business, that alreadywe've seen significant differences just by letting them go through theirfailures to learn something better. Why should I start from scratch again anddo it from scratch? I may as well start there and then add our touches, do ourthing, and it's amazing, yeah.
TaylorPrince(08:30):Well, unlike Tahiti real estateat its core, it's an island. You feel like an island as an agent, as anindependent agent, you feel like an island. Real has become the Tahitianislands of the real estate brokerage world, where it comes [crosstalk00:08:44]-
BrendanKing(08:43):Without the beautiful bathwater. But even I noticed... I just lost my train of thought, but with thecultural aspect, already, I noticed in Workplace, which is where we share, andeven online, everyone is already supporting us even though we're new andthey're like, "Hey, killing it. Amazing. Welcome," and we haven'teven announced it yet. And I've already got people direct messaging me sayinglike, "Hey, welcome to the team." And I don't know these people, andit's amazing, that's great. Nothing's better than coming somewhere, and beinggreeted, and knowing that people are there to share and give what they have,yeah.
JoeHerrera(09:23):Well, because guys like us havealways preached abundance mindset, we preach it, but do we practice it? And asa broker, owner, we would preach to all of our agents, "Be abundant,collaborate with each other." But saying it and doing it is two completelydifferent things. And so, for us the last six months have been amazing becauseit's just been this birth and explosion of collaboration to where the agents wework with, a scarcity mindset just won't survive because we're toocollaborative. And so now, rather than preaching it, we're practicing it, andthe agents we work with are getting involved in doing it. We're getting reportsback like, "My husband tells me I'm just a different person, he's neverseen this side of me." They're building podcasts and they're-
BrendanKing(10:10):Plus, it's not cheesy. They'rein old brokerages that used to try to do this kind of thing, it was a littlecorny, like parades around the office and things like that. This is truecollaboration. We're sitting here, we both work in the same industry, we're acouple miles apart from each other, we all share the same MLS and we've alreadyshared so many different things together like you're talking about differentinvestment opportunities and different things like that that are really nice.
BrendanKing(10:37):And beyond the culture and thecollaboration, I think there's other things that are really huge pluses that Ithink we can mention that are completely different than any other brokerage,except for maybe one or two. We've got some similarities that we learned fromtheir past experience and I think Tamir did a really good job of reevaluatingand making our additional pluses better. If you don't mind explaining a littlebit about the stocks and things like that.
JoeHerrera(11:09):Yeah. So Taylor, maybe you takethe stocks, I'll talk a little bit about the revenue share opportunity.
TaylorPrince(11:13):Yeah. So the collaboration we'vebeen talking about, which is really cool, but if the fruits of collaborationare not growth in our financial world and our ability to make cash that we canturn into wealth, then what's the point? Then we'd all be cursing collaborationand saying it's pointless, but it really is at the core, the collaboration inthis company. What they've done is created a business where we can all do whatwe've always done, which is close a whole bunch of deals, do a whole bunch ofbusiness, create a bunch of cash and then create additional revenue stream.
TaylorPrince(11:40):So with the stock, Real is onthe NASDAQ. As you guys know, recently, I think it was in, when was it? July,August, when they got uplisted to the NASDAQ and the stock, what's really coolfor us, Joe and I, I think when we first started looking at Real was probablythe first thing that caught my attention was this ability to get in on acompany that had amazing leadership that was really heading to the moon withthe trajectory to be able to get into a level where we could get the stock atsuch a very low level with massive potential.
TaylorPrince(12:12):So the thing for a company, Joeand I, back in 2012, we started a tech company and we became very familiar withthe art of raising money. And during that time, it became apparent to me thatthere were two types of money. There were family money, people that trusted youbecause they watched you grow up or they knew the circles you ran and they'dwrite you checks to help you get your company up and off the ground, and thenthere was smart money, which was the venture capitalists, the private equity,the people out of New York and San Francisco. And so, for me, when I waslooking at the stock that came with Real and this opportunity, I wanted to knowwhere the money came from. And the company insight partners that funded Real,you guys have probably looked [crosstalk 00:12:51]-
BrendanKing(12:51):Amazing company. I've done theresearch, yeah. They've invested. I just kept going up on the page and it wasjust like...
TaylorPrince(12:56):Yeah. The portfolio of whichcompanies they've done, I mean, it's Twitter, it's Tumblr, it's Qualtrics thatjust bought the Utah Jazz in Salt Lake. So all the companies that have investedin, or the biggest funder that has invested in Real is one of the major VCs inthis world.
BrendanKing(13:12):Yeah. And they literal have, ifyou go through the list, I think monday.com-
TaylorPrince(13:17):Monday's on there, [crosstalk00:13:18]-
BrendanKing(13:19):There's so many companies thatyou know yeah.
TaylorPrince(13:21):And its smart money that's goinginto this company. So getting back to the stock, the cool thing about Real, wecan sell houses, we can help people buy and list, we can make money that way.But also, when we do production and when we reach the company cap, the companygives us stock, they give us stock and we become owners. We're part owners ofthe Real through the stock we get. So-
BrendanKing(13:43):And the app is great. Already acouple agents that have already closed some deals, they're refreshing, tryingto see and they're like, "This is cool, cool." They're enjoying. Evenone of the girls bought her first stocks on her own because she wanted to buysome real on her own, and so she did it just because now she's interested init. So it's even teaching her something that she had never really beeninterested in before, which is kind of fun.
TaylorPrince(14:06):Yeah. And so, the stock really,you can get it four ways, you can buy it, just like your agent did, anybody cando that. You can also, when you close business and reach your cap, you get paidfor production. When you attract an agent, you talk to somebody, whetherthey're in Missouri, or Florida, or Wyoming that just opened, or Idaho, theydecide to come over to Real, when they close their first deal, you get stockfor doing that. And then also every time you close deal, you can actually havea portion of your commission, up to 5% before you cap, 10% after you cap, paiddirectly to word stock and you get a bonus for that, which is on the screenthere.
TaylorPrince(14:42):So yeah, it's 25% bonus matchingfrom the company for stock that you purchase from your commission checks beforecapping, and then after you cap, they match 50% of whatever you purchase, whichis unheard of for anybody that comes from the corporate world when it's three,four or five, maybe 6% match to have a 50% match is-
BrendanKing(15:02):It's ridiculous.
JackPalermo(15:03):It's crazy. It's crazy.
BrendanKing(15:05):And at no cost. Obviously, justwork, you have to do your job and close some deal, but technically at no cost.
JoeHerrera(15:15):Maybe not even a secret, thedirty truth we all know as real estate agents is, historically speaking, as anindustry, we haven't been great with our money. People can make big paychecksand then-
BrendanKing(15:25):Then the Lamborghini pulls up.
JoeHerrera(15:26):Yeah, exactly. So what do we do?How can we really help people? So we're figuring out profitability, we'refiguring out investments, we're figuring that stuff out as we go, but we'vealso, owning brokerages, I mean, we've interviewed 60, 70-year-old agents whokilled it in the '90s back in the days of magnets and pizza boxes, and theyhave nothing now. And so it's like, what would their world have been like ifwhen they were killing it, they were reinvesting in themselves?
BrendanKing (15:56):This happened to somebody youknow as well from our old brokerage that she had called me and having a littlestruggle right now. She's an amazing agent, amazing, amazing, amazing, but it'sjust a different world. And so, she had asked to have coffee and just sit andfigure out some things with her for marketing. But the world is different, andI feel like if you don't pivot and change, it's going to run you over. Andespecially in the future, I think this industry's going to be a different worldin five years.
JackPalermo(16:25):Yeah, totally.
JoeHerrera(16:26):Well, one of the big things isthe revenue share. So when Taylor and I owned our brokerage, there was aone-way relationship. They would close deals; we would collect the commissionand then we would distribute to them their check and pay [crosstalk 00:16:40]-
BrendanKing(16:40):And that's it, technically,yeah.
JoeHerrera(16:41):That was our relationship. Whenour agents would bring on other agents, we would give them an attaboy, everyonce in a while, we may give them... we may take them to lunch. I don't evenknow that we did that that much, but it was like, "Hey, thank you."At most, we would waive their monthly fee, they were paying 100 bucks. So itwas like, "If you bring over three agents, we will wave your 100bucks."
JoeHerrera(17:01):Where, what Real did was say,"What if our massive North American marketing budget, rather thanpurchasing billboards, and radio commercials, and TV spots during the SuperBowl," what if we say, "Brendan, as you grow, Jack, as you grow, Joe,Taylor, as you guys grow, we will redistribute the portion that's paid to thebrokerage back to the agents. My life becomes the marketing engine for thecompany." So rather than being a billboard, or a TV show, or a gold jacketor whatever, it's me, I'm the market.
BrendanKing(17:36):As long as it's a golden nicegold jacket.
JoeHerrera(17:38):Yeah exactly.
BrendanKing(17:39):I'll take that.
JoeHerrera(17:39):So that's what I love is at RealBroker, you have the ability each time a deal closes, if you sponsored an agentinto the company, you're going to get 5% of that commission until they cap. Soit maxes out at four grand a year if you directly sponsor them in. But thenthere's this principle of, again, going back to that, there's no more tug ofwar between us and our agents. It's like, Jack, if I can help you be moreprofitable because Brendan's your sponsor, Brendan's going to be moreprofitable. And because Taylor's Brendan's sponsor, Taylor's going to bemore... So we're all making money together, so then why wouldn't I help yougrow your business? Why wouldn't we go sit down and you can have coffee andI'll have diet Coke and we'll talk about ways that we can grow together? Andso, it's this weird ecosystem, because we're so used to... we're all, in asense, the whole real estate industry is a bunch of depression babies and we'reobsessed about our own little can of beans.
BrendanKing(18:36):Like [crosstalk 00:18:37]-
JoeHerrera(18:37):Exactly. So what happens if asJack eats, it literally helps to feed my family? And so, we're in this worldnow to where agents are reaching out all across North America into Canada.We've collaborated in the past from a position of coaching, like you could payme to coach you or things like that, and now there's no payment system. It'sliterally just as you succeed and as you pay your cap to the company, a portionof that cap come back to me. So then, my goal every year is to help you capfaster so that you can feed your family, which in turn helps me feed my family.So it's a really cool system that we've fallen in love with, we've seen massivegrowth with from the time we came over with our agents till now it's beenexplosive. And I think there have been this business model past, it was kind ofspammy-
BrendanKing(19:33):And it got a little funny onlinetoo immediately, you had the ones who were doing it in a good way. There were afew guys that really did do a great job of sharing and delivering theinformation, which was the good part of the structure. But the bad part of thestructure is what kind of made this other side of the coin, which is kind ofwhat you're talking about, where it did get a little spammy, yeah.
JoeHerrera(19:57):So at Real, the key isattraction. It's not about recruiting; I can't go and recruit people to Real.
BrendanKing(20:03):Yeah. Tamir will shut this down.
JoeHerrera(20:07):Because it's both, it becomes anadvertising [crosstalk 00:20:12]-
BrendanKing(20:11):Look, it's cheesy, it's like oldsales, it's like when you go to buy a car and someone's pulling your arm off,you're like, "Hey, I just want information, I don't want to beharassed." I think that's kind of what Tamir saw, is that he didn't wantthat kind of personality.
JoeHerrera(20:25):So it's very natural for you toreach out to Taylor and say, "Hey, man, I've heard some things, see,you're over there, how's it working?" And for Taylor to work with you, andfor you to bring in Jack, and for us to all collaborate together from anattraction standpoint.
BrendanKing(20:37):Yeah, it was literally justinformation. And I took that information, did my research on my own, and thenwhen I had questions, I reached out and it was a matter of, then,understanding, "Okay, this works, it makes sense, everything makessense." Like you said, aside from our relationship with a check prior,there is no further connection to the company in any other way.
JoeHerrera(21:00):Yeah. So the thing that I'vebecome obsessed with is how can we, as an industry, how can we receivecompensation multiple times from a transaction? And we could talk about title,and mortgage, and there's big players doing things like that. But even ifyou're not a big player, how can the guy that does 12 deals a year, he couldget to 24, he might even be able to get to 48, but at some point, his owneffort is going to cap out.
BrendanKing(21:29):Yeah, you can only work so hard.
JoeHerrera(21:30):So then how does he continue togrow?
BrendanKing(21:32):17 admin?
JoeHerrera(21:33):Yeah, exactly. You can run ateam, so commission split is an option, but you can also... What if you canmake money through collaboration? Not from starting a coaching program, notfrom selling knives, not from selling merch, what if you grew financiallythrough collaboration? And that's really at the heart of what we're talkingabout. It's not people like Taylor who runs a team that does massive amount ofbusiness, it's how does the 22-year-old, two years in the industry, closing 25transactions, how do they build residual in income? Because I've always beenjealous of my brother. I've got two brothers-in-law that sell insurance.They're like, "Oh, that's cool, you just made 10 grand selling ahouse." I'm going to make 10 grand every month because I built up aresidual business and I'm-
BrendanKing(22:20):And they've got this book, yeah.
JoeHerrera(22:21):Yeah, the book of business. Sowhat if we can couple those two things together? That's the theory with Real,is what if we say, "Taylor, you're going to make 10 grand a month fromselling a house and you're also going to make 10 grand a year from attractingthree agents." And then all of a sudden you go, "Oh cool, whathappens if I bring six agents in?" And so, it's just a cool principle thatyou don't have to be a king maker in order to have residual income.
BrendanKing(22:45):I see what you did there, wasthat a last name player? But even with events and things like that, I loveevents, I like going to events, I like holding events, I think it's nice to beable to share with the knowledge of that's all we're doing, is sharing. And ifin return something's interesting, great, but the sharing part is fun, butequally, it gives value, there's actually value there. You're not just like,"Here, you're going to have stock." It's like, "No, you'reactually delivering value and equally, that person sees value in that situation."
TaylorPrince(23:21):And I would say the biggestvalue too, I love where you're going with that, but the biggest value is thedifference between Joe and I, for years building up indie brokerages, andhaving our agents, and trying to get them excited about the company, trying toget them excited about attracting agents to come to our indie brokerage, and itjust wasn't there.
BrendanKing(23:37):They're like, "It'syours."
TaylorPrince(23:38):It's ours, yeah. Yeah, the valueis they become... it's no longer we're the owners and they're like,"Whatever scraps fall off the table we'll take it," they're now theowners, we're the owners. The energy, you guys, I mean, you've seen it andyou'll start to see it in your own company as well, but it's just the energyit's way different, it's because people now own something.
BrendanKing(23:57):Yeah, no, it's definitely, Iknow we had shown some slides with the stock breakdown and the rev share. Andthen of course there's the, is it the elite agent?
TaylorPrince(24:06):Yeah.
BrendanKing(24:07):There's I think if an agent hitsa certain amount, then they get, again, another bonus of, "Hey, not onlydid you do a great job, but you get-"
TaylorPrince(24:15):Well, it's actually in Vegas,everybody is obsessed with this 100% commission plan. At Real, when you hitelite status, not only do you get back everything you've paid into the company,but you actually get back a little bit more. So now the 100% commission plangoes to like 103% commission plan or whatever, you get back every single dimethat you've put into the company in the form of stock or cash-
BrendanKing(24:38):Which is not the case with the100% plan in town, [crosstalk 00:24:42]-
JoeHerrera(24:41):There's no such thing.
BrendanKing(24:43):I got to a certain point where Iwas spending so much money per year that it was an entire salary for somebody.I could easily hire a really expensive person for the amount I was paying. Andin this situation, I see that the more I do, the more I get back, which is kindof mind blowing when you really run the numbers. And I'm sure you ran thenumbers 300 times before you did it, sideways, up and down because I know you'relike me as far as-
JackPalermo(25:10):Yeah, I was going to just sayprobably random 600 [inaudible 00:25:11]-
BrendanKing(25:11):It just makes sense when itcomes to that.
JoeHerrera(25:13):Well, it's not a race to thebottom. I mean, the 100% brokerage model is a race to the bottom. It's like whocan give away the most while keeping the lights on, while not losing agents?That's 100% brokerage model. This is not a cost play, this is not a cheap play,it's a value play. It's what company can you belong to that provides value toyou? There's another company that does profit sharing. I don't love that, so ifyou say, "Hey, Joe, let's partner up and we'll split the profits," mynext question, if I'm smart, is going to be, "How do you defineprofits?"
BrendanKing(25:50):Well, since we broke even, Joe-
JoeHerrera(25:52):Yeah, exactly, they're talkingsplit. So the nice thing with Real is the stock, the revenue share. Sharingrevenue is much different than sharing profits-
BrendanKing(26:02):Because it's there.
JoeHerrera(26:03):Well, because it's not the costof lights, and the cost of salaries, and the cost of doing business comes out-
BrendanKing(26:10):It comes in and goes right backout.
JoeHerrera(26:11):Right. And so, the revenue sharecomponent is massive. And like Taylor said, for somebody that does a lot ofbusiness, their factual cost of belonging to the company becomes virtuallynothing.
BrendanKing(26:22):Yeah, that's crazy. And that'shuge, I think, especially for some agents who feel they can't leave be becausethey're at that point. Because in any company, when you're at that point, youget these awards and all that, but in the end, those are just awards. It's justa plaque on the wall or a photo on Instagram, but you're not getting somethingof value back. I know we had a few other slides regarding Real, obviously, likethe expansion, I think this is an updated map too, they're growing insanelyfast. They're across nearly, what are we at? 40 some odd states, [crosstalk00:26:58]. Yeah. And then in Canada and growing incredibly fast. And David, canyou push to the next slide?
BrendanKing(27:08):And this is a big bit of news. Iknow recently I saw you guys blowing up the internet with one of the brokeragesthat you guys paired with and collaborated with, this brokerage in Utah calledRed Rock that moved 275 agents to Real. So obviously with the brokerage thislarge doing 1.2 billion in volume, they equally saw something that they wereattracted to, right?
JoeHerrera(27:39):Yeah. I mean, I think for thoseguys, they loved their agents. Taylor and I always tried to be compassionate,and involved, and things like that, but these guys lived it. So Matt, and Allenand Adam are amazing owners. They realized that they were in a race to thebottom. There's other companies in Utah that were undercutting them and thenthey would have to undercut. So that tug of war with the agent, and it waslike, well, we can't lose our agents, so we have to cut our costs. And it's alosing business model because at Red Rock, they were not able to offer sharesof the company to their agents, at Red Rock, they didn't have a rev sharecomponent to their company because, again, it was a cost play, it wasa[crosstalk 00:28:21]-
BrendanKing(28:21):And if it's not built in, it'sreally hard to go backwards and add it, from what I've heard, yeah.
JoeHerrera(28:26):Exactly. And so, they saw theability to say, "We're going to create an actual win-win." It'sunbelievable when it's shared. It's like, "Well, it doesn't work thatway." What's in it for you type thing. And so, the only thing that was init for them was the same thing that was in it for Taylor and I when wetransitioned off local real estate, which was growth. So they transitioned with275 agents, and so their hope would be that eventually, each of those agentswould catch on to this system and then their 275 would end up being 800 agentsthey collaborate with, and that's where the growth is.
BrendanKing(29:02):And that's huge because thenthey're giving something of value, like you said. They hit a point where I'msure, and I'm not speaking for them, but I'm sure they felt, like you said,there was no other choice to a certain extent, you can only give so manyplaques and award banquets and things-
TaylorPrince(29:17):After spending a week with thoseguys, and multiple calls, and Zoom and everything, when you first start to meetpeople, they tell you why they're doing something you always wonder like,"Is that why they're doing it?" And from the beginning, they said,"We are doing this because we want to give our agents the absolute best.We want to give them more than we're already giving them." And what theywere giving them is, we had never seen anything like it. I mean the best swag,they have puff jackets with Red Rock written on them and stuff, they have thebest.
BrendanKing(29:42):I even noticed in your photosand videos, they already took the Real signs and put their logo on the top. Iwas like, "They're quick." And I was like-
TaylorPrince(29:49):They give their agents more,just everything, support. So when they came to us and said, "We truly wantto do this to give our agents even more." I wasn't sure that at the coresurface that I believed that, but after spending time with them and seeing theresearch they did, you joke about the research that we do when we check thisout, they did more research and built out more models to compare the costs andthey truly believe that this is something that's going to benefit their agents.
BrendanKing(30:15):Yeah, I think what we can allagree on is just the future, really. I think this model will only continue togrow and especially with Real, I think that our culture at Real will onlycontinue to grow. And then-
JoeHerrera(30:29): Well, that was the challenge Iran into is when Taylor and I started running this model, we were like,"Dude, as small brokerage owners, we're screwed." Once agentsunderstand that this is the option, let me get this straight, I could eitherpay 15 grand a year to Love Local Real Estate or I could pay 15 grand a year toReal. When I pay 15 grand a year to Love Local, I get attaboys and Christmasparties, when I pay 15 grand to Real, I get attaboys, and great companyculture, and shares of stock, and the ability to build revenue, and residualincome. And like, wait a minute, why wouldn't I just do that?
JoeHerrera(31:07):So we were, in a sense, if youcan't beat them, join them. We weren't going to take Love Local public. Wecouldn't grow outside of Nevada without additional licensure in brick andmortar. And so, it was like, we're either we either need to get with the timesor get run over by them and be those guys saying, "Hey, can we go get adrink because I need to figure out how to build my business again, Brendan,we're screwed." And so, we chose to lead our agents, Red Rock chose tolead their agents into that model because their agents were going to find itanyways.
BrendanKing(31:38):No, it's true and I think that'sthe case, is that it's out there, it's out the there and I think we all made agreat move for sure. I'm super happy.
JackPalermo(31:47):I'm excited.
BrendanKing(31:48):Yeah, Jack was on board rightaway. He did some research, he's said, "Oh, okay, that's weird, allright." And then he looked it up, he's like, "Hey man, I'mready."
JackPalermo(31:55):Yeah, let's do it.
BrendanKing(31:56):I think he texted me 20 minuteslater. I walked out and left him with that bomb and then he was like, "No,I'm good, I'm good, let's do this. Let's do this" We thought, no betterthan to have some Vegas born and... You guys are born and raised, right?
JoeHerrera(32:09):Born and raised, yeah.
TaylorPrince(32:10):Born and raised, yeah.
BrendanKing(32:11):Yeah. He's got the Vegas bornshirt, so we figured no better way to talk about Vegas news than with two guyswho spent their entire lives here. So you know what, I didn't think we'd talkabout Real that much, but it's hard not to.
JackPalermo(32:22):It's exciting, it's an excitingtime.
BrendanKing(32:26):It's hard not to. I thinkobviously we're all passionate about it, but another thing we're passionateabout is Vegas and we're going to have the Super Bowl LVIII in Las Vegas aslocals who got raised here.
JackPalermo(32:40):It's going to be great.
BrendanKing(32:40):Did you ever think that wasgoing to happen?
JackPalermo(32:41):It's going to be great.
JoeHerrera(32:43):So we were on a cruise. Ourteam, we go every year somewhere and we were on a cruise in the Caribbean whenit became official-official. And when we went to the cruise port to buy our...they gave you the free lanyards, I bought a Raiders one. I was like, "I'mall in." I haven't been as passionate about the Raiders as I thought Iwould be. It was easier with the Golden Knights because they are ours, Raidershad existing culture and stuff, but it was almost like growing up as UNLV fans,we were always the underdog. We won the national championship but it wasalways-
BrendanKing(33:11):Back in the '80s, right?
JoeHerrera(33:12):Yeah, '90s-
JackPalermo(33:14):90s.
BrendanKing(33:14):It was '90s?
JackPalermo(33:14):1990.
JoeHerrera(33:16):Yeah, but it was always like wewould get the shows, Elvis would come here or Garth would come here, whateverit was, but as far as sports, with the gambling, it was kind of like a no-nooutside of UNLV.
BrendanKing(33:28):Yeah, I remember we heard it allthe time in New Jersey. There was always sports coming to... No, no-
JackPalermo(33:35):Yeah, that's never going tohappen.
BrendanKing(33:36):No, no, never going to happen.
JoeHerrera(33:37):Contrast a few years ago, Vegaswasn't even allowed to run a commercial during the Super Bowl, it was outlawed.You couldn't have a commercial-
BrendanKing(33:45):I did even know that, that'scrazy.
JoeHerrera(33:47):So the fact that the SuperBowl's coming here, A, just shows the progression of our society to realize, professionalgaming, while I don't participate in it, is much better regulated by agovernment entity than it is by bookies and things like that. The Mirage is notgoing to cut off your fingers if... You know what I mean?
BrendanKing(34:09):Hey, you owe me for that.
JoeHerrera(34:10):Yeah, exactly, as they realizethat gambling in Vegas is much less risky than gambling in Jersey, you knowwhat I mean? Growing up, there were bookies taking bets.
BrendanKing(34:18):Oh, yeah.
JoeHerrera(34:19):So as societies advanced, theyrealized, A, Vegas is an amazing community, and so, the Golden Knights kind ofproved that out. Now the Raiders are doing it. Now Derek Carr, if you followDerek, it's all about being at the park and being at the Winter Wonderland withhis kids-
BrendanKing(34:32):And Fleury, man, that was a bigloss for us. But Fleury loved it here. When he heard he was leaving, I hadtalked to some people that know him pretty well and I know his neighbor prettywell, I heard Fleury was devastated. He was like, "Our family-"
JoeHerrera(34:48):I'm sure he'll come back.
BrendanKing(34:49):That would be great if-
JoeHerrera(34:50):I'm sure he'll live here.
BrendanKing(34:51):Hey, if you need an agent, letme know. The stadium that they built for the Knights, the stadium they builtfor the Raiders, look at our Aviator Stadium, obviously, we know what we'redoing. And every model that's come here has done an amazing business and done agreat job of entertaining the crowd. It's only a matter of time beforebaseball, basketball, everything's here, soccer.
JackPalermo(35:15):I mean, this year you got, thePro Bowl's coming, you got the draft, next NFL draft is going to be here andthen, two years later the Super Bowl, it's going to be crazy.
BrendanKing(35:24):Yeah. The nice thing is peoplehave a great airport that they can come in, it was always called McCarranAirport and now it's Harry Reid. How long was it McCarran, your whole life?
TaylorPrince(35:38):Oh yeah.
JoeHerrera(35:39):Forever.
BrendanKing(35:40):I think it's been McCarran sinceit opened, right?
JoeHerrera(35:42):Yeah, I mean, the reality is,I'm not a big advocate of McCarran or anybody, but our cancel culture as we all[crosstalk 00:35:50]... In our meeting this morning with our guys, I said,"I'm super grateful for two things, one of them being the ability tomanage my inbox on Gmail with timestamps and things like that. Number two, thatsocial media didn't exist when I was a kid. I can only imagine the stupidthings I would've said." And so, the reality is, you're not really allowedto be anybody anymore that had a past of any kind, we can't learn from moremistakes, we just cancel. And so, right now, the flavor of the day is HarryReid was our Senator for a long time-
BrendanKing(36:18):Longest sitting senator inNevada history.
JoeHerrera(36:21):So, I mean, I'm not opposed tohonoring him, but it's not born out of honoring Harry, it's born out ofMcCarran said something stupid at some point for something. And John Wayne'sgoing to go through it down in Orange County because John Wayne said things heshouldn't have said-
BrendanKing(36:34):It happened with stadiums.Remember back in the day, where the Devils used to play in the Nets, it wascalled Brendan Byrne Arena and I was like, "Yes, my name rightthere," as you drove by. And then it became Continental Airlines Arena andthen... Even that whole thing I thought it was nice to always have a stadiumnamed after somebody. But yeah, in this... I know what you're talking about-
JoeHerrera(36:53):Even Redskins I saw a guy, wewere-
BrendanKing(36:55):You mean the Washington FootballTeam?
JackPalermo(36:58):The Washington Football Team.
JoeHerrera(36:58):Well, there was a guy there fromDC and he had on a Capital's hat. And I was like, "Bro, this is GoldenKnight's country, what are you doing with that hat on?" He's like,"I'm from DC." And I was like, "So where are you at with theWashington Football Team?" He's like, I-
BrendanKing(37:11):Don't bring up the Redskins.
JoeHerrera(37:12):... Was wearing Redskins jerseysand jackets after the change of the name and people were throwing eggs[crosstalk 00:37:19]-
BrendanKing(37:18):Oh geez, [crosstalk 00:37:19]-
JoeHerrera(37:19):... There was a whole thing. Sothat's part of what's going on. It's not just to honor Harry, it's part of thecancel culture, take it for what it's worth.
BrendanKing(37:26):I don't disagree and especiallywhen something's that long, it's a long time, it's been decades. So of course,if you guys want... Oh, God, I skipped ahead, but yeah, this is huge. So thiscame up yesterday, what do you think? I think the inventory's so low that whoknows, obviously we can't predict the future, but I think it's time. Interestrates have been at zero forever, we've been buying bonds forever. Springtime,if they start pushing rates up, I think it's probably due. What's your opinionon it?
TaylorPrince(38:01):I would say, for me, it's mixed.We're in the business, so for us, it's kind of, we want rates to stay low sopeople keep buying houses and the market will stay healthy and our businesswill thrive, which it is. But at the same time, I was talking to a friend ofmine who bought some land two years ago and now it's doubled, almost tripledand [crosstalk 00:38:21]-
BrendanKing(38:21):Yeah, we were chatting aboutthat, yeah.
TaylorPrince(38:22):And we both agreed, we're like,"As awesome as this is to own land and own property, inflation it's going toa scary place." And it kind of itself-
BrendanKing(38:30):If eggs start to cost the sameas a house, I think we'll be upset too.
TaylorPrince(38:34):Yeah, exactly.
BrendanKing(38:35):Do I buy a house or a dozeneggs? It's like, "Ah, I don't know."
TaylorPrince(38:38):Yeah, and the rate, I mean, whatis the prediction? You've probably got it all in there.
BrendanKing(38:41):So the prediction was that itwas going to be small increases. So starting in the springtime, I assume,usually they don't do anything more than a quarter-point up or down, typically,so we'll see. I think whatever they say today, I think it's only going tochange by the time that time comes.
JackPalermo(38:55):Right, by next week actually.
TaylorPrince(38:57):Sure.
BrendanKing(38:58):Yeah, exactly.
TaylorPrince(38:59):And the fact is, I mean, Ibought my first house in Vegas when I got married and I think our interest ratewas 7.2 or 7.3-
BrendanKing(39:05):My dad's was 18 in 1988.
JackPalermo(39:09):Right, that was like the '80s.
BrendanKing(39:10):'88, 18%.
TaylorPrince(39:10): Yeah, but anything back then,anything that was under seven was phenomenal, and then when it went under sixwas amazing, and then [crosstalk 00:39:17]-
BrendanKing(39:16):I got a 5.3 and I was rolling. Iwas like, "Yeah in 2003." I was like, "Woo-hoo."
TaylorPrince(39:22):Now people are mad if it doesn'tstart with a two.
BrendanKing(39:24):Oh yeah. I had that talk withsomebody today, I was like, "You're probably looking at 3.1, 3.2 for hersituation." And she's like, "Oh, that's so high." And I was like,"It's not that high."
JoeHerrera(39:34):I mean, I think the reality isthere's a housing shortage. People are going to keep buying houses.
BrendanKing(39:38):I think we saw 2100 homes on themarket and the normal market for us is 11 or 12,000-
JoeHerrera(39:43):Well, there's three to fourmillion roof shortage in America. And that's not all, half-acre million-dollarhomes, it's a lot of starter homes that aren't available. What we're lookingat, I think is the elimination of middle class to some degree. There's going tobe people who scoop up rentals and as inflation hits-
BrendanKing(40:01):Never sell it.
JoeHerrera(40:02):... They're going to make a tonof money and then there's going to be people who can't afford to buy a house.So that's scary, but I-
BrendanKing(40:09):And we've got equity fundsbuying thousands, and thousands, and thousands of homes with no plans on everselling them. They're just protecting their cash and putting them in an assetthat they know they can leave them in.
JoeHerrera(40:18):Well, I've always hoarded cashat home, but now I pay for everything with cash. When we have somebody come andput up a wall or paint, or whatever-
BrendanKing(40:25):Do you pull it out of yourmattress?
JoeHerrera(40:27):Yeah, because I'd rather have-
JackPalermo(40:30):What's your address again?
JoeHerrera(40:30):Yeah, I'd rather have an addressthan... I'm sorry I'd rather have an asset than cash.
BrendanKing(40:35):Oh, for sure, yeah.
JoeHerrera(40:36):And so, inflation's scary, but Ithink if you play it right, you're good.
BrendanKing(40:43):There's always a benefit in themarket somewhere.
JoeHerrera(40:46):Yeah. There's always anopportunity-
BrendanKing(40:46):On the other end. Yeah,opportunity's a better way to put it. And of course, if you guys want anyinformation on anything we're talking about, you can always go to our website,www.kingvegashomes.com. We'll have the podcast, any links to anything we'retalking about, any of the information about Real or any of the Vegas news,always check out the site at wwwdotkingvegashomes.com-
JackPalermo(41:08):Or if you want the marketupdates sent directly to your phone, 702553-1955 text market.
BrendanKing(41:15):Which we update, of course,every single week. What was the total? 2276 was the active listing. So yeah,pretty low. So yeah, every single week we update this, every Monday. So on thepoint of inflation rent-
JackPalermo(41:29):Rent increase, 27% so far inVegas this year, which crazy, isn't even the high in the nation.
BrendanKing(41:36):Oh really, who's the high?
JackPalermo(41:37):Arizona leads with 38% increase.
BrendanKing(41:40):That's insane, so yeah,Scottsdale, you're going to be paying three grand for a little starterapartment-
JackPalermo(41:45):For 600 square feet.
BrendanKing(41:47):So you were saying you were bornand raised here. A hotel that I know since I was a kid, was the Mirage thevolcano and it was on all the movies and everything else, what's your thoughton the fact that now Hard Rock is buying the Mirage. What's your thought onthis or taking over operations of the Mirage.
TaylorPrince(42:10):I mean, Joe can talk more aboutthe technical stuff, but I just love that the Guitar-
BrendanKing(42:14):The Guitar is awesome.
JackPalermo(42:14):The Guitar. So they have one inHollywood, Florida that I've been to. It's the Hard Rock Seminole, it's rightthere.
JoeHerrera(42:20):Oh, it is, that's pretty sickactually.
JackPalermo(42:21):It is awesome.
BrendanKing(42:22):Look at that.
JackPalermo(42:23):It's the coolest thing, you'repulling up, you're like, wow. I mean, obviously, Vegas Strip alone is amazing.
TaylorPrince(42:28):It needs a Guitar.
JackPalermo(42:29):Just seeing that, it needs aGuitar.
TaylorPrince(42:30):We've got a pyramid, we've gotthe Statue of Liberty, we need a Guitar.
JoeHerrera(42:35):Well, I think for me the key is,the Strip has always been an annoyance until the pandemic. Taylor and I wereskateboarding down the Strip on electric skateboards and it was like, this israd, but this is scary. Any progression on the Strip is a progression for us,right?
BrendanKing(42:52):There's so much constructiondown there right now in the middle of inflation, in the middle of a pandemicand there's nothing but huge growth right now across the city.
JoeHerrera(43:01):Which I learnt. So the airportwas always an annoyance, the Strip was an annoyance, the traffic was anannoyance. I'd never been more grateful for airport traffic, road traffics,people on the Strip and-
BrendanKing(43:15):You're just watching the sky,you're like keep coming [crosstalk 00:43:16]-
JoeHerrera(43:16):Yeah, exactly. Because we needit. I mean, it is our GDP here, our product is the Strip. So if we can make itbetter, I'm all in. I don't go down there that often anyways, I go to theGolden Knight game or I go to Joe's [crosstalk 00:43:30]-
BrendanKing(43:30):That's where we always have to,we'll either go to see music or watch sports, that's really it. Yeah, foodoccasionally.
JackPalermo(43:37):Or if friends come to town,they're like, "Oh [crosstalk 00:43:39]-"
BrendanKing(43:39):A couple of weeks ago I was downthere with the Knight I saw you. I was down there three nights in a row, and Iwas like, "This is mind-blowing. I haven't been down here three times inso long." Because you know what? In the suburbs we have just as manyamenities that the Strip offers to the public, we have the amazing ability todo all those same things, even gambling or not gambling, you have the sameaccess to restaurants in the suburbs too. Great, great restaurants from chefswho worked on the Strip, which we chat about all the time. So of course, we doreal estate, so we got to talk about real estate.
JackPalermo(44:12):Tony Hsieh-
BrendanKing(44:13):Tony Hsieh, yeah.
JackPalermo(44:14):Found a buyer of his Scotch 80shome for 2.1 million-
BrendanKing(44:18):Scotch 80s 2.1 million.
JackPalermo(44:19):This thing was 14,336 squarefeet, sits on an acre and three-quarters, has a main home and a carriage housewith an indoor pool, elevator, and lush landscaping.
BrendanKing(44:31):Yeah, Scotch 80s, if you wantlarge lots, that's the place to be for sure.
TaylorPrince(44:35):And doesn't it almost seemsweird that it only went for 2.1 million.
BrendanKing(44:38):It does actually, I wasexpecting a larger number, yeah.
TaylorPrince(44:41):In this market, we've got-
BrendanKing(44:42):And that square footage alone,man.
TaylorPrince(44:43):That square footage, the area,we've got stuff up in the Northwest and track neighborhoods going for 1.2, 1.3,that's half-acre. So to see Scotch 80s and that, it's-
BrendanKing(44:52):No, for sure, especially whenyou say Northwest, and then the next home that we have actually is called theHouse of Roses in the Northwest selling for $8 million.
TaylorPrince(44:59):Yeah, Tony needed to have theKing Group list that house.
BrendanKing(45:05):Yeah, what's wrong with you.Come on Tony? But look at this thing with the horse corral and the grass andit's like the Spanish architecture.
JackPalermo(45:11):The place is amazing.
BrendanKing(45:11):Very cool. I feel like issomething you'd see in Hollywood really, very similar to old Hollywood homes-
JackPalermo(45:18):Looks like a Beverley Hills orHollywood.
BrendanKing(45:18):Yeah, especially the Spanishstyle, it's just very different for Vegas. But yeah. $7.95 million, 25 speciesof roses, which is why it's called House of Roses. And if you didn't know that,roses too well in Vegas, most people don't realize but they do-
JackPalermo(45:35):Everything does well in the[crosstalk 00:45:36]-
JoeHerrera(45:35):As long as you got water.
BrendanKing(45:36):As long as you got water, we'regood. But yeah, Spanish-style architecture, 8,200 square foot home, was builtin 2003. So yeah, all you Californians if you want a house, that's a true $8million house-
JackPalermo(45:49):Give me a call.
BrendanKing(45:50):This is a real deal-
JoeHerrera(45:51):I know you could have pickedthat thing up for a million-
BrendanKing(45:54):Back in the day?
JoeHerrera(45:55):... In the recession.
BrendanKing(45:56):Oh, I'm sure, I'm sure, easily.There's that big castle up in the Northwest there too, that was selling justaround a million, remember.
TaylorPrince(46:00):It was 1.2, 1.3.
BrendanKing(46:01):Yeah, and it's changed handstwice since then actually.
JoeHerrera(46:07):It's just cool to see realestate in Vegas. When I got into real estate, I was driving a limo for FrankNapoli Senior.
BrendanKing(46:13):No way. That's amazing.
JoeHerrera(46:16):And square footage was squarefootage. Nobody paid for upgrades, nobody paid for quality construction, nobodypaid for anything. It was 2000 square feet was 2000 square feet.
BrendanKing(46:25):Interesting.
JoeHerrera(46:26):I think Chip and Joanna Gaines,I think the Property Brothers, I think-
BrendanKing(46:30):Yeah, people care, I think-
JoeHerrera(46:30):People cared now.
BrendanKing(46:30):But I think it's the same withstyle. I think Instagram may be a little bit a part of that and TV, you seewhat you can do? I think before you just did what you did because it's all youknew, now, you see, "I want a cool kitchen like that," "Oh, Iwant to wear that outfit-"
JoeHerrera(46:43):Yeah. And people go for it.
BrendanKing(46:44):I want those shoes. I didn'tknow that sneakers could be that cool. So now I think-
JoeHerrera(46:48):People will see Chip and Joannaput 50 grand into a house and they're like, "Oh, okay, so that house I'mlooking at, someone I must have put 50 grand into this, so I'd rather buy thiswith 50 grand done to it than that without it." So it created a price gapthat is no longer just dependent on square footage, it's now... So as realestate professionalism, I mean it's awesome.
BrendanKing(47:06):And growing up in New York,that's how it was in New York and how it is in LA. It's not about this house,this square foot, price per square foot. In LA, a house two doors down couldsell for five million more just because it's cool and because some rockstar whohas-
JackPalermo(47:18):Who has unlimited money just[crosstalk 00:47:20], yeah.
BrendanKing(47:20):And one of the cool pluses aboutliving in the desert is that, we don't only have the desert, we have themountains and Lee Canyon just got 17 inches of snow-
JackPalermo(47:27):17 inches of snow.
BrendanKing(47:30):... Which was massive, 17 inchestotal, which means the Rabbit Peak will be open finally.
JackPalermo(47:36):Yes.
TaylorPrince(47:37):Yes.
JackPalermo(47:37):Let's go to Rabbit Peak.
JoeHerrera(47:38):Is that the last one to opentraditionally?
TaylorPrince(47:40):Or is it the first one to open?
BrendanKing(47:41):It's usually the first becauseit's-
JackPalermo(47:42):Because it's tomorrow.
BrendanKing(47:43):Because they'll have lessons, isit tomorrow?
JackPalermo(47:44):Mm-hmm(affirmative).
BrendanKing(47:45):They'll have lessons and thingsso they can sell their lessons to families and stuff like that. But it's alittle late this year because we've been a little low on snow, but I know up atMammoth, Mammoth got... Your buddy's up there?
JackPalermo(47:57):Eight feet.
BrendanKing(47:57):Eight feet of snow.
JackPalermo(47:58):Yes. He's sending me videos fromhis living room and it's like it's covering up his doors.
TaylorPrince(48:02):That's awesome. The realquestion is how much in the mountains of Colorado and Utah, that's what we needso we can fill up our lake-
JoeHerrera(48:09):That's right, Colorado.
BrendanKing(48:09):I know Brian had, because I'vegot my camera on my property, so I always watch the snow come down, I want tosay they got a foot or 15 inches, but it's still not enough, they need more.The next week they're going to have 26 inches.
JoeHerrera(48:20):Awesome.
BrendanKing(48:21):It's going to fill up Lake Meadand-
TaylorPrince(48:22):All those people getting newsnowboards and skis for Christmas [crosstalk 00:48:25]-
BrendanKing(48:25):For sure, yeah. Las Vegas Ski& Snowboard, if you haven't been, check it out up in Lee Canyon. Christmasdeadlines, Jack.
JackPalermo(48:32):Dude, yes. So it's close toChristmas, we are officially what? Nine days away from Christmas. If you'regoing to send something, send it now. And the list is right here.
BrendanKing(48:41):Mom, dad, don't worry, yourgift's going to get put in the mail tomorrow.
JackPalermo(48:44):If you want to get it byChristmas, here's a whole list for you. There's also going to be a link in ourbio, so you can go to take a look at that so you can get your stuff there ontime and not be yelled at by family members for missing the day.
BrendanKing(48:56):Yeah, no, or your wives.
JackPalermo(48:57):Yes, that's true.
BrendanKing(48:58):My wife will be on for that. Sowe do have a couple local holiday things that you wanted to mention I know.
JackPalermo(49:05):Yeah, there's a pop-up bar, it'sthe Shady Grove Lounge, the Bad Elf Pop-up Bar. It's over at the SilvertonCasino. So all decorated, all Christmassed-out and crazy. The last few weekswe've been talking about all these crazy [crosstalk 00:49:19]-
BrendanKing(49:18):Pool table, foosball, minibowling alley, your favorite holiday menace Elf on the Shelf. But an angry elfon the shelf, which-
JackPalermo(49:28):No, [crosstalk 00:49:28] workedbad too.
BrendanKing(49:28):If anything, if I remember I wasangry some mornings when I forgot to do it the night before and I was like,"Oh no, it's 5:00 AM-
JoeHerrera(49:35):The best ones are the mocks,the-
JackPalermo(49:38):Mensch on a Bench.
JoeHerrera(49:39):Yeah, Sprite in the fight andstuff like-
BrendanKing(49:41):My neighbors have the Mensch ona Bench.
JackPalermo(49:42):Snoop on a stoop, I saw thattoo, it's awesome-
BrendanKing(49:45):For shizzle.
JackPalermo(49:45):For sure.
BrendanKing(49:48):So Jean-Marie AuboineChocolatier factory shop, I don't know exactly how to say that. So anaward-winning handcrafted artisan chocolate company from-
JoeHerrera(49:58):Did you see School of Chocolateon Netflix? They talk about it.
BrendanKing(50:02):No, I haven't. Oh, you knowwhat?
JoeHerrera(50:04):It's awesome.
BrendanKing(50:04):I don't know, we'll look intothat.
JoeHerrera(50:05):It's the Vegas chocolate chef.He's the one that builds the periscope out of chocolate and the chandelier outof chocolate.
BrendanKing(50:10):Oh cool.
JoeHerrera(50:11):He has a show on Netflix.
BrendanKing(50:12):What is it called?
JoeHerrera(50:13):School of Chocolate.
BrendanKing(50:14):School of Chocolate, we'll addthat to the link so you can check that out as well. But yeah, Jean-Marie, we'llcheck if that's the guy. I wonder if it is, but he's got a little advent style,25 piece Christmas tree book, which you're a little late for if it's nowbecause you're already nine days away.
JackPalermo(50:29):Now, adding a little bit ofmorbidity to Christmas, the Official SAW Escape Rooms, which is pretty crazy,but there's 13 rooms and they're all decorated for Christmas.
BrendanKing(50:40):How weird.
TaylorPrince(50:40):It is weird.
BrendanKing(50:42):And of course, if you want adate night with your spouse, you can go to the Cosmopolitan, How the GrinchStole Christmas. They're going to do a movie date night on ice, so you cancuddle at the fire pit, toasty with a signature cocktail, and watch a holidayfilm with a 65-foot digital marque, which is pretty cool. I haven't done thisyet, have you?
TaylorPrince(51:05):I saw a band, I think saw NewOrder, any of you guys '90s bands, but I saw New Order at that venue and it wasawesome.
JoeHerrera(51:12):You saw the New Edition.
JackPalermo(51:15):New Edition will be here inMarch and they're going to have a residency here.
JoeHerrera(51:18):Oh, that awesome. [inaudible00:51:19] to enchant or whatever that's called-
BrendanKing(51:21):Yeah it's great.
JackPalermo(51:21):We went there too. That's prettyawesome.
BrendanKing(51:23):I just took my kids the othernight, it was fun.
JoeHerrera(51:24):I almost missed the COVID daysof super light crowds because it was freaking nuts.
BrendanKing(51:30):It wasn't too bad. We wentSunday night, which was probably a good idea-
JackPalermo(51:33):Yeah. We went the first nightand it wasn't bad at all.
BrendanKing(51:35):That's because the Instagramshots weren't out yet and then everybody else knew because everybody's postingit right now. And of course, on the sports side, Bishop Gorman back on top, wonthe state football title again, which they kind of fell out of-
JackPalermo(51:50):A couple of years now.
BrendanKing(51:51):Fell out of it for a few years,but they're always good.
TaylorPrince(51:54):All the other local high schoolsare cursing that.
BrendanKing(51:56):Yeah. It's one that we don'tknow if we should mention or not because big fans are big fans and the otherones are like, ah.
JackPalermo(52:03):They sent seven players onscholarship too, which is pretty awesome.
TaylorPrince(52:06):That's amazing, really-
BrendanKing(52:07):So seven players on scholarshipto college-
JoeHerrera(52:10):[crosstalk 00:52:10] what theywere getting at Gorman's, so that's good.
BrendanKing(52:15):Finally, some truth to that. Andof course, there's a restaurant giveaway in Huntridge. There's actually adeveloper who is going to give away your own restaurant if you win. So you canactually enter and they're going to do a shop giveaway where the developer willbuild you a 3000 square foot restaurant if you win. So, J. Dapper, Dapper'sdone a lot of cool developments in town actually. He's some of my favoriteretail developments because they're unique and different and architecturallycool. But yeah, he's going to give away 3000 square foot place, so we'll havethe links if anybody wants to enter, Jack-
JoeHerrera(52:55):Got some crazy ideas, names forfall restaurants too if anybody needs them.
BrendanKing(53:00):What the fuck?
JoeHerrera(53:01):What the fuck?
BrendanKing(53:04):Well, Jack, what do we got here?
JackPalermo(53:04):Oh, don't forget about theRaiders. They're playing the Browns this week at Cleveland. But Cleveland,their quarterback is out with COVID, their head coach is out with COVID, therecould be a chance. So they're saying there's a chance.
BrendanKing(53:19):But I apologize, I skipped overthat, but yeah, hopefully, the Raiders have a chance this week. Hey, we're allRaiders fans, we have to be, they're the local team-
JackPalermo(53:27):Yes, we have to be.
BrendanKing(53:28):But they need to pull out a win,they need one right now. So just to wrap it up, we have some entertainment andrestaurant information. So the best new restaurants in Vegas, what do we got,Jack?
JackPalermo(53:39):Kono's Northshore, Northshore isfamous for pulled Kalua pork slow-roasted for 12 hours-
TaylorPrince(53:45):I'm getting hungry here.
JackPalermo(53:46):Served on a toasted French roll,there's sandwiches, there's breakfast bombers that they have, which is kind offilled with everything awesome for breakfast. Lunch sandwiches, you're servedwith Maui, onion, and potato chips, all sorts of good stuff.
BrendanKing(53:58):It looks good.
JackPalermo(53:59):So happy hour every day fromthree to six and $4 off your Kalua pork plate and lemonade combo.
BrendanKing(54:06):I'm on that, let's go now.
JackPalermo(54:06):It's supposed be great. It'ssupposed to be great.
BrendanKing(54:06):Yeah. All this talk of Real mademe hungry. So entertainment, of course, if you want to check out anything onour YouTube, go to our Brendan King Group YouTube and we've got lots of shorts,so we break out all different things from all our different shows, fordifferent information. Right now, we've got one about the West Side Storyreview, Spielberg gets his groove back. So Spielberg supposedly did a great jobon this movie, I haven't seen it yet. Did you see it, David?
David (54:32):Not yet.
BrendanKing(54:33):Yeah, but supposedly he did anamazing job on the movie overall. He's back, he's back.
JackPalermo(54:39):Yes, he's back, Spielberg'sback.
BrendanKing(54:40):What else have we got, Jack?
JackPalermo (54:41):All right. So there's a newimmersive Las Vegas Strip attraction called Arcadia Earth, highlights beauty inthe peril of our planet.
BrendanKing(54:49):It looks like what's that moviewith the underworld-
JoeHerrera(54:52):Waterworld?
BrendanKing(54:52):No, the one-
JoeHerrera(54:53):Waterworld's [crosstalk00:54:53]-
BrendanKing(54:53):The 80s style one. What was it?
JackPalermo(54:57):Goonies?
BrendanKing(54:57):No.
JoeHerrera(54:58):Oh, now you're talking FlashGordon.
BrendanKing(54:59):No. That one where they had theworld upside down and then the kids.
TaylorPrince(55:03):Journey to the-
BrendanKing(55:06):I'll remember by the time we'redone.
JoeHerrera(55:08):It must have been a Jersey only[crosstalk 00:55:09]-
JackPalermo(55:11):So this thing is going to be15,000 square feet of magic.
BrendanKing(55:15):That's huge.
JackPalermo(55:15):15 art exhibits will remind usof the world's unique beauty of our own planet and the unprecedented peril itfaces due to human actions.
BrendanKing(55:24):And thanks to COVID each exhibitcontains QR codes. So with links to ways to help the earth on differentexhibits.
JackPalermo(55:32):Oh, that's neat.
JoeHerrera(55:32):I think that's awesome.
BrendanKing(55:33):I think this is going to be theyear of the QR code, honestly. I always thought it was going to-
JoeHerrera(55:38):I just got my pop-all built out.
BrendanKing(55:39):Did you?
JoeHerrera(55:40):Yeah.
TaylorPrince(55:40):What's a pop-all?
JoeHerrera(55:41):Digital business card.
BrendanKing(55:42):Oh yeah. Actually, I have seenthose. Actually send me that, I want to check that out-
JoeHerrera(55:46):I handed a guy a Business card,he's like, "Where's your QR code." I was like, "That's a goodquestion." Pop-all.
BrendanKing(55:51):Pop-all. Yeah, we'll check thatout.
JackPalermo(55:53):What have we got? Shania Twainis closing her show here and the Doobie Brothers.
JoeHerrera(55:58):Oh wait, did that just open.
JackPalermo(55:59):Yeah, Shania Twain's closing hershow, she ends next September, and then in May the Plant Theater of the PlanetHollywood is welcoming the Doobie Brothers with Michael McDonald.
JoeHerrera(56:10):Which is amazing.
JackPalermo(56:11):I'm sorry, I saw him at, what isthat? Hollywood Bowl right before the pandemic. He's amazing in concert-
David (56:19):Really?
JackPalermo(56:19):Just to say, Michael McDonald isamazing.
TaylorPrince(56:20):Is Michael McDonald, a formerlead of a band, or who is Michael McDonald?
JackPalermo(56:24):He was in the Doobie Brothers.
TaylorPrince(56:25):Oh, he is the Doobie Brothers,okay.
BrendanKing(56:26):If you heard his voice, you'dknow it in two seconds. His voice is really unique.
JackPalermo(56:33):He's pretty amazing.
BrendanKing(56:34):And of course, Garth Brooks, theone-man show is back again. So the one-man show coming back to the Las VegasStrip, where's he playing? He's at the Park MGM-
JackPalermo(56:44):Park MGM.
BrendanKing(56:45):Which is an awesome venue if youhaven't seen music there yet, it's purely built for music and they did anamazing job. But yeah, Garth is back.
JackPalermo(56:52):You know what's pretty coolabout?
BrendanKing(56:53):What's that?
JackPalermo(56:54):No photography or videothroughout the show, people can actually be in the moment, you can't take-
JoeHerrera(56:59):You can't take your phone.
BrendanKing(57:01):How are they going to evenenforce that?
JackPalermo(57:02):So I went to a show atCosmopolitan before and they give you these bags and they lock up your phonewhen you go in. So you can't take it out, which is kind of crazy.
TaylorPrince(57:10):Even as a parent, I need[crosstalk 00:57:12] my phone-
JoeHerrera(57:14):My kids' phones need to belocked [crosstalk 00:57:16]-
BrendanKing(57:15):I bought a case and you hit thebutton, you can set, you turn the dial and you can't open it for the number ofminutes or hours that you set it to-
TaylorPrince(57:30):Wow, why are you selling realestate? That's so advanced-
BrendanKing(57:30):So did that with my kids, I putmy phones in there, went... And then my own daughter was like, "You know Ican break that dad." I was like, "All right, okay, let's not go thatfar." But of course, anytime you guys want any information, you can text,VIP to 7025531955, get on our VIP list, we'll send you any information.
JackPalermo(57:44):Text market if you want themarket updates sent to your phone directly every Monday, text market to7025531955.
BrendanKing(57:52):And of course, our favorite,text dine to 7025531955. Joe and Taylor, I can't believe you have not joinedour dine list yet, but I know you're gentlemen [crosstalk 00:58:02]-
TaylorPrince(58:02):What is it text, dine-
BrendanKing(58:03):Dine to 7025531955. Hey, awesometo have you guys.
JackPalermo(58:06):Thank you, guys.
BrendanKing(58:07):Honestly, it's awesome to be apart of the Real family. We appreciate you guys in ways and just love the factthat we know we can call you and you're so willing to share and just can't waitto grow more with you guys. We really appreciate you guys coming out.
JackPalermo(58:21):Yeah, thank you, guys. Thankyou, guys, very much.
BrendanKing(58:24):And of course, check out theshow and we'll see you guys next week. Have a good one.
JoeHerrera(58:28):Oh [inaudible 00:58:29]-
