#634: One Big Fire with Leo Pareja

John Kitchens Coach Podcast | Life. Coaching. Real Estate

"One Big Fire with Leo Pareja"

Summary: In this episode, John Kitchens is joined by Leo Pareja, Chief Strategy Officer at EXP Realty, for a deep dive into the power of collaboration and leadership in the real estate industry. The concept of "One Big Fire" is explored, with Leo sharing insights on scaling teams, the importance of navigating chaotic market conditions, and leading in times of uncertainty. With an audience of real estate professionals, the discussion emphasizes strategies for not only surviving but thriving in today’s market by becoming the CEO of your own business.

Key Highlights:

1. The Birth of "One Big Fire"

   • John and Leo share the backstory behind the concept of "One Big Fire", reflecting on moments from a mastermind group where top real estate agents discussed thinking bigger, working together, and building collective success.

   • The phrase "One Big Fire" originated as a metaphor for combining individual efforts into a massive, unstoppable force in the real estate industry, rather than working in isolation.

2. Importance of Collaboration and Thinking Big

   • Leo highlights the value of surrounding oneself with people who push you to think bigger and work harder. He recalls moments of growth from his mastermind group, where agents continually challenged each other to reach higher levels of success.

   • The significance of sharing resources, ideas, and energy to create larger, more impactful results is underscored.

3. Leadership and Becoming the CEO of Your Real Estate Business

   • One of the central themes of the episode is leadership in the real estate world. John and Leo both stress the importance of taking charge and acting like the CEO of your business.

   • Leo shares how he went from being a solo agent to leading a team and eventually joining EXP Realty, now overseeing 87,000 agents across 24 countries.

4. Navigating Real Estate's Messy Middle: Market Chaos & Opportunity

   • Leo dives into the current real estate climate, especially the challenges that come with an uncertain market. He likens today’s environment to wartime leadership, where decisive action is critical.

   • He points out that it’s easier to succeed during chaotic times if you make quick decisions and act as a true leader. The importance of learning to pivot and adapt is emphasized as a necessary skill for thriving in unpredictable markets.

5. Leo’s Take on the Financial Crisis and How It Shaped His Career

   • Leo shares personal experiences from the 2008 financial crisis, explaining how it transformed him from an agent into a more decisive, “wartime general” leader.

   • He talks about how the crisis created the foundation for his current leadership style, shaping his understanding of how to guide large teams through challenging situations.

6. The Evolution of Real Estate in a Skills-Based Industry

   • Real estate is becoming more professional and skills-based, moving away from easy sales and into a climate where professionals with solid knowledge and expertise will thrive.

   • Leo discusses how agents who focus on skills development and confidence will be the ones who stand out, particularly as the market shifts to more demanding, higher-level work.

7. The Future of Real Estate: Survival of the Fittest

   • Leo and John predict a period of high attrition in the real estate industry. Many agents will leave the industry, but those who stay will have greater opportunities.

   • They also talk about how the real estate landscape will evolve, with an emphasis on professional standards, high-quality service, and agents who are willing to innovate.

8. Overcoming the Challenges of Buyer-Side Compensation and Steering

   • The hosts tackle one of the most pressing issues in real estate: changes in buyer-side compensation following recent legal settlements.

   • Leo advocates for transparency and professionalism, warning against unethical practices like steering (guiding buyers based on commission). Instead, he encourages agents to embrace new industry norms while maintaining their fiduciary responsibilities.

9. Adapting to New Rules and Leading Through Change

   • Leo talks about the changing regulations in the real estate market, specifically around commission structures, and advises agents to lead with integrity.

   • As new practices emerge in the market, agents are encouraged to stay informed, stay compliant, and continue to offer high-quality service to their clients.

10. Leo's Leadership Philosophy: Showing Up & Taking Action

    • A key takeaway from Leo’s leadership style is the importance of showing up and making decisions. He emphasizes that in times of confusion, people need someone to lead—and indecision is often the worst decision.

Notable Quotes:

• "We need to think bigger, push harder, and surround ourselves with people who do the same. That's how we build One Big Fire." — Leo Pareja

• "In times of chaos, it’s easier to become a millionaire than in times of calm. The key is acting like a CEO and leading through the storm." — John Kitchens

• "Most of the time in life, you just need to show up and say, ‘I’m here.’" — Leo Pareja

What You’ll Learn:

• The power of collaboration in building successful real estate businesses.

• Leadership strategies for navigating uncertain market conditions.

• How to position yourself as a thought leader and a “wartime general” in challenging times.

• The future of the real estate industry and how agents can adapt to new rules and thrive.

• Why mindset, adaptability, and professional skills are more important now than ever.

Connect with Us:

• Instagram: @johnkitchenscoach
• LinkedIn: @johnkitchenscoach
• Facebook: @johnkitchenscoach