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Is Your Agent Talking Too Much? First Responder Realtor Tips for Finding an Agent Who Listen · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day everybody.
• 0:00
  SPEAKER_00: It is Connor with Honor.
• 0:01
  SPEAKER_00: This is going to be your daily update.
• 0:03
  SPEAKER_00: Today is October 16th, 2024, and we are at day 290.
• 0:08
  SPEAKER_00: Looking at the real estate inventory for Santa Cruz Valley, just a couple points out there.
• 0:12
  SPEAKER_00: I've been doing a lot of videos with regard to buying houses, trying to give you an idea what to look for in an agent's value.
• 0:20
  SPEAKER_00: When you are trying to hire somebody to represent you on the buying side of real estate, you want to establish that they have the knowledge and experience.
• 0:29
  SPEAKER_00: And that's going to be a lot more than what you can find online.
• 0:33
  SPEAKER_00: You need to talk to them.
• 0:34
  SPEAKER_00: You need to sit them down or have them sit down with you over the telephone or stand up or whatever, but at least communicate with them and try to make a determination as to whether they're a good fit.
• 0:45
  SPEAKER_00: A couple key factors to look for.
• 0:47
  SPEAKER_00: Are they listening more than they're talking?
• 0:49
  SPEAKER_00: And then are they actually trying to get to the bottom line of what you're looking for, or are they talking more globally and not really interested in what you want?
• 0:58
  SPEAKER_00: That's the component.
• 1:00
  SPEAKER_00: And if what you want is way outside the realm of any possibility, do they have the guts to tell you this isn't going to work and this is why?
• 1:09
  SPEAKER_00: Now, there's always special circumstances, right?
• 1:12
  SPEAKER_00: There's always that person that wants to go out there and sell their house for a dollar.
• 1:15
  SPEAKER_00: I've never seen that, but I guess it does exist.
• 1:18
  SPEAKER_00: If they're trying to sell you something that sounds too good to be true, my suggestion to my clients is always do this before they become my clients.
• 1:27
  SPEAKER_00: Well, to people that aren't working with me.
• 1:29
  SPEAKER_00: Ask your agent how the process of real estate works, and then ask them if now is a good time to buy.
• 1:37
  SPEAKER_00: Listen to what they say.
• 1:39
  SPEAKER_00: See if it makes sense.
• 1:41
  SPEAKER_00: And then when you're done in it, if they did make that promise, like I talked about, promising something that's way out of the realm of possibility or something that sounded too good to be true.
• 1:51
  SPEAKER_00: And this works with anybody in the real estate field, including the lenders, follow it up with an email.
• 1:57
  SPEAKER_00: Send them an email and say, hey, listen, I understand we uh had this conversation this morning.
• 2:01
  SPEAKER_00: This is what I understood it to mean.
• 2:04
  SPEAKER_00: Please clarify and get back to me.
• 2:06
  SPEAKER_00: Usually they'll respond and you'll find out you may have heard it incorrectly, or maybe they misspoke, or maybe they did it intentionally and that you need to fire them and get on to somebody else.
• 2:16
  SPEAKER_00: The final thing with regard to buyers, you're going to be signing a contract now to look at houses.
• 2:22
  SPEAKER_00: This is a commonality.
• 2:24
  SPEAKER_00: If you're running into an agent that's going to show you houses without having you sign something, that could be an well, potentially they're breaking the rules.
• 2:32
  SPEAKER_00: Because everybody that's shown needs to have a contract, even if it's only for that specific property, and even if it demands nothing from you as a buyer accepting whatever commissions, if any, that the seller's going to pay.
• 2:45
  SPEAKER_00: These are things to look for in those contracts.
• 2:47
  SPEAKER_00: And again, any confusion, make sure you follow it up on an email.
• 2:50
  SPEAKER_00: Right now, there's 77 new listings that have entered the Santa Clarita real estate market for sale.
• 2:55
  SPEAKER_00: During the past several days, we've watched as we have 69 properties that have had their prices changed.
• 3:01
  SPEAKER_00: Just a quick word on that.
• 3:03
  SPEAKER_00: This market is incredibly dynamic.
• 3:06
  SPEAKER_00: Sellers are still overcompensating for prices, reflective of back in 2005, 6, and 7 when prices were going up$30,000 and$40,000 a month.
• 3:15
  SPEAKER_00: So in some circumstances, sellers are either being misinformed or they're taking upon themselves to put their property prices a lot higher than the market has ever been, and also higher than buyers are capable to go.
• 3:28
  SPEAKER_00: A twofold thing, right?
• 3:29
  SPEAKER_00: So if you price your house at a level that buyers are willing to pay and it's way above what the other houses have sold for, you're probably okay as long as you go into that transaction and you make sure that your agent puts in there that that particular buyer is going to pay whatever price they offered, even if that maintains that the buyer needs to come in extra money to close the transaction.
• 3:52
  SPEAKER_00: That being said, make sure that their loan program allows for them to bring in extra money above and beyond what they're willing to lend on the property, because it could be in some cases, maybe not so much lately, but you might run into it.
• 4:07
  SPEAKER_00: There could be a case that you get close to the finish line and all of a sudden find out, well, they're not going to allow you to put any extra money into this process.
• 4:16
  SPEAKER_00: There are certain loan programs out there, just make sure that whatever you do, if in fact you want to inject extra money on top of whatever the appraised value is, that would be the money that the lender's willing to loan on the property.
• 4:29
  SPEAKER_00: If you're willing to inject, make sure that your lending type actually allows for that.
• 4:33
  SPEAKER_00: Alright, so we also have back on market properties 22.
• 4:36
  SPEAKER_00: 22 properties have re-entered the for sale market.
• 4:40
  SPEAKER_00: Very common.
• 4:40
  SPEAKER_00: That's usually a seven-day period.
• 4:42
  SPEAKER_00: Now we've had more than that.
• 4:43
  SPEAKER_00: We've had 30 and 40 here last few weeks as well.
• 4:46
  SPEAKER_00: These are properties, people are concerned that the properties that are coming back on the market have some flaw or some problem.
• 4:53
  SPEAKER_00: That's usually not the case.
• 4:54
  SPEAKER_00: More than likely, it's a buyer issue.
• 4:56
  SPEAKER_00: Buyer could have come into financing issues, could have had some change, 3Ds, death, disease, divorce, those are all horrible things.
• 5:04
  SPEAKER_00: And they also add to buyers maybe not capable of continuing through the escrow process.
• 5:10
  SPEAKER_00: Forty-one properties have gone pinning, 31 have gone into escrow, 53 properties have closed, six have expired, 15 canceled, 14 have been put on hold.
• 5:20
  SPEAKER_00: Now, of these new listings, make sure that you're seeing those, not only those, but the coming soon listings, because usually every day there are at least a few that have entered the market that carry with them a 21-day time period to be able to come active onto the real estate market.
• 5:36
  SPEAKER_00: That being the case, just make sure you get access to those.
• 5:39
  SPEAKER_00: You're not going to see those on syndication sites, you're going to see those if in fact you are part of an email system from your agent to you.
• 5:47
  SPEAKER_00: My buyers are able to trust the fact that they're going to see every single coming soon listing before it hits the market for sale.
• 5:56
  SPEAKER_00: And that's because I am sending those to them.
• 5:59
  SPEAKER_00: And if they fit within the criteria that we've set, remember I said the agent that you hire needs to listen more?
• 6:05
  SPEAKER_00: I have to listen.
• 6:06
  SPEAKER_00: I want to listen.
• 6:07
  SPEAKER_00: I get to listen to my clients explain what they're looking for.
• 6:12
  SPEAKER_00: And in some cases, the the layout of the house is something that's really important.
• 6:17
  SPEAKER_00: I do know the newest trend is not having an actual formal room, but a great room.
• 6:23
  SPEAKER_00: So you walk into the residence, and you've seen this maybe in some of the new builds, you actually have the lower level encompassing family living kitchen.
• 6:32
  SPEAKER_00: And there really is no formal space any longer unless there's been a particular room set apart for maybe dining.
• 6:40
  SPEAKER_00: Other than that, though, the dining table is usually within this area where you have the kitchen, the living and family room upon entry into the residence, and a lot of people looking for those houses.
• 6:50
  SPEAKER_00: When people are asking me to set them up and search for properties, I have to know the particular housing type out there so I know not to send them particular types of properties that might contain this normal living room, which to them is that type of buyer, they're looking at that as wasted space, and they don't want to have anything to do with it.
• 7:08
  SPEAKER_00: So why would I show those houses to them?
• 7:10
  SPEAKER_00: Now, in some cases, the agents aren't indicating uh the types of separation for the downstairs rooms, but in most cases, you're supposed to know as an agent, if you've been in the business, I've been doing this since 98.
• 7:23
  SPEAKER_00: You needed kind of what those houses look like and what happens.
• 7:26
  SPEAKER_00: Now, of course, you can climb through the pictures and have a look.
• 7:29
  SPEAKER_00: That also helps.
• 7:30
  SPEAKER_00: All right, so after that, we have active under contract and uh properties.
• 7:33
  SPEAKER_00: Like I said, we had 31 uh pro under contract, 41 have been changed in the pinning status.
• 7:39
  SPEAKER_00: Uh property goes pinning, you're gonna see it no longer offered for sale.
• 7:43
  SPEAKER_00: You will the system, you will still see properties that are in backup upper position that are accepting offers currently, even though they're in escrow.
• 7:51
  SPEAKER_00: You'll see those properties.
• 7:53
  SPEAKER_00: Is that a good bet?
• 7:54
  SPEAKER_00: Usually not a great bet because those properties go through.
• 7:58
  SPEAKER_00: But as we definitely saw, and we see this every week, there are a certain amount of properties that fall out of escrow and re-enter the market.
• 8:06
  SPEAKER_00: If that's something that you're looking for, a particular house that's offering backup offers, it wouldn't be a bad idea to maybe go view it with your agent and see if they're willing.
• 8:15
  SPEAKER_00: Well, they should be willing, you're the boss, to write an offer for you on the residence.
• 8:19
  SPEAKER_00: And of course, then if it falls out, great.
• 8:22
  SPEAKER_00: Then you might be able to be the first up and get in on that real estate listing.
• 8:26
  SPEAKER_00: Again, those agents out there that experience a property that falls out of escrow, they really want that next one to go.
• 8:33
  SPEAKER_00: Even though of no fault of their own it fell out, it's something weird.
• 8:38
  SPEAKER_00: That feeling when something puts of no fault of something bombs back on market is bomb BOM.
• 8:44
  SPEAKER_00: If it bombs and comes back onto the market, it's heavy.
• 8:47
  SPEAKER_00: It's a big pain point because, of course, even though it had nothing to do with me, this is a buyer decision, maybe prior to them removing their contingencies.
• 8:56
  SPEAKER_00: But it take it hard, right?
• 8:58
  SPEAKER_00: Because then you got to call your seller and you got to say, well, hey, Jack, you know, are these particular buyers, uh somebody they're getting separated, maybe somebody they found some kind of a problem or a medical issue, or maybe they lost their job, or maybe the overtime was cut, or whatever it could be.
• 9:15
  SPEAKER_00: Also, sometimes buyers go out there, and this is good to note if you happen to be a buyer, don't go out there and start financing stuff or even paying stuff off.
• 9:22
  SPEAKER_00: Even if you find a suitcase of money in your garage, don't go use that to pay that$30,000 visa bill if you've already been approved to borrow money.
• 9:33
  SPEAKER_00: Appreciate you watching.
• 9:34
  SPEAKER_00: Thank you so much.
• 9:34
  SPEAKER_00: I am Connor with Honor.
• 9:36
  SPEAKER_00: I hope you have a fantastic week, and we will be back tomorrow.
• 9:39
  SPEAKER_00: Don't forget to check out Santa Clarita Openhouses.com.
• 9:43
  SPEAKER_00: All the real estate listings are there, the system's unlocked.
• 9:46
  SPEAKER_00: You will get this irritating pop-up that asks you to share your information, but just exit out and continue through the process.
• 9:53
  SPEAKER_00: It's a fantastic system and it has all the MLS, multiple listings, service-related data, and the listings that are currently for sale.
• 10:00
  SPEAKER_00: I'm Connor with Honor, over and out.