Latest / Designing and Building the Midwest One Community at a Time / Designing and Building the Midwest the Realtor Segment with 1st Choice Realty Pros: The Dark Side of Real Estate

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Designing and Building the Midwest the Realtor Segment with 1st Choice Realty Pros: The Dark Side of Real Estate · Designing and Building the Midwest One Community at a Time

• 0:00
  SPEAKER_02: Hey, welcome to designing and building the Midwest one community at a time.
• 0:03
  SPEAKER_02: I'm Chris Hartsuck with Big Dog Construction, your local Window Depot.
• 0:07
  SPEAKER_04: And I'm Caitlin.
• 0:08
  SPEAKER_04: This is the show where we bring you real insights, expert input, and a lot of entertainment along the way.
• 0:13
  SPEAKER_04: It's the podcast you didn't know you needed.
• 0:15
  SPEAKER_02: Hey, every week, our main focus is bringing you the best advice on home improvement, remodeling, and how to take care of your biggest investment.
• 0:22
  SPEAKER_02: But we don't stop at the property line.
• 0:24
  SPEAKER_04: Exactly! We also dive into our realtor segment to cover the ins and outs of buying and selling locally.
• 0:29
  SPEAKER_04: And our community segment where we talk about giving back charity and what's really happening across the Midwest.
• 0:35
  SPEAKER_02: Plus, we regularly sit down with some fantastic guests from all walks of life to hear their unique stories and perspectives.
• 0:42
  SPEAKER_04: Whether we're talking blueprints or community roots, we've got you covered.
• 0:45
  SPEAKER_04: Let's get into today's episode.
• 0:47
  SPEAKER_03: Big dog! Hey there.
• 0:49
  SPEAKER_03: I'm Lisa Miller, managing broker and owner of First Choice Realty Pros.
• 0:54
  SPEAKER_03: We don't just help you find a house, we help you discover home.
• 0:58
  SPEAKER_03: My team and I are passionate about taking care of your needs, making the process smooth, and ensuring you get the personalized attention you deserve.
• 1:08
  SPEAKER_03: Ready for the next step?
• 1:09
  SPEAKER_03: Call us at 217-825-3999.
• 1:14
  SPEAKER_03: With First Choice Realty Pros, you've got a team that's got your back.
• 1:18
  SPEAKER_02: Hey, welcome back to Designing and Building the Midwest One Community at a Time.
• 1:23
  SPEAKER_02: I am Chris, your host with our lovely co-host Caitlin.
• 1:28
  SPEAKER_02: Hello.
• 1:28
  SPEAKER_02: And we've got our 10x partners with First Choice Realty Pros.
• 1:32
  SPEAKER_02: We've got Lisa Miller and Lydia Emmons with us.
• 1:35
  SPEAKER_02: Thanks for being here today.
• 1:36
  SPEAKER_06: Hi, hello.
• 1:36
  SPEAKER_06: Hello, hello.
• 1:38
  SPEAKER_02: Hey, today we are talking about the dark side of real estate.
• 1:41
  SPEAKER_02: We didn't know there was a dark side, but welcome to the city.
• 1:44
  SPEAKER_03: It's not always sunshine and ponies.
• 1:46
  SPEAKER_02: It's dark unicorns.
• 1:50
  SPEAKER_03: It's not always that.
• 1:52
  SPEAKER_03: We like it if it is.
• 1:54
  SPEAKER_02: Right.
• 1:54
  SPEAKER_02: That stuff.
• 1:55
  SPEAKER_02: Well, hey, well, this is, I guess we're going to talk about when the deal starts falling apart, right?
• 2:00
  SPEAKER_02: And what that means, and how the professionals at First Choice Roller Pros really will pull that back together to make it.
• 2:07
  SPEAKER_02: Don't go to the dark side.
• 2:08
  SPEAKER_02: Go back, right?
• 2:09
  SPEAKER_02: Yeah.
• 2:09
  SPEAKER_03: We got to keep people calm.
• 2:10
  SPEAKER_02: Yeah.
• 2:11
  SPEAKER_02: Awesome.
• 2:11
  SPEAKER_02: Awesome.
• 2:12
  SPEAKER_02: Well, that's what we're going to start talking about today, right?
• 2:14
  SPEAKER_02: You know, you found the house, you negotiated the offer, everybody signed.
• 2:18
  SPEAKER_02: The seller is packing, the buyer is picking out where the furniture is going.
• 2:22
  SPEAKER_02: And everybody thinks we've got the deal, right?
• 2:26
  SPEAKER_02: Well, maybe not.
• 2:28
  SPEAKER_02: Right.
• 2:28
  SPEAKER_02: Because under contract does not mean sold.
• 2:31
  SPEAKER_03: Right.
• 2:32
  SPEAKER_02: Okay.
• 2:32
  SPEAKER_02: And there can be a whole lot that happens between getting an accepted offer and sitting down at the closing table.
• 2:37
  SPEAKER_04: So I always wonder what that meant on signs like under contract pending.
• 2:42
  SPEAKER_04: You know, and and I vaguely remembered the most terrifying few like days when I was buying my house and it was under contract.
• 2:49
  SPEAKER_04: You know, you're I'm like terrified.
• 2:50
  SPEAKER_04: I'm like, it's not gonna go through.
• 2:52
  SPEAKER_04: Obviously, it doesn't for some people.
• 2:54
  SPEAKER_03: Well, active under contract means it's actively under contract, but we can still continue to show it.
• 3:02
  SPEAKER_03: Oh, it falls apart.
• 3:04
  SPEAKER_03: You've got a backup.
• 3:05
  SPEAKER_03: We've got a backup, and I love having a backup, yeah, especially you know, for the seller because anything can happen.
• 3:12
  SPEAKER_03: Yeah.
• 3:12
  SPEAKER_02: Yeah.
• 3:12
  SPEAKER_03: Well, and you want that.
• 3:14
  SPEAKER_02: Well, and I guess a lot of times maybe it falls through at the inspection.
• 3:18
  unknown: Yeah.
• 3:19
  SPEAKER_02: Right?
• 3:19
  SPEAKER_02: So when inspection comes through, what's some of the things that might cause it to start trickling to the dark side?
• 3:25
  SPEAKER_07: Well, go ahead.
• 3:26
  SPEAKER_07: Termite, anything with termites typically scares the buyer away.
• 3:29
  SPEAKER_02: I don't know if noise or not, but they do on a microscopic timeline.
• 3:35
  SPEAKER_03: And people need to know that just because there was um termites, past termite damage, does not mean the house is falling apart.
• 3:44
  SPEAKER_03: Right.
• 3:44
  SPEAKER_06: Right.
• 3:44
  SPEAKER_03: Sometimes you can put a sister board up.
• 3:47
  SPEAKER_03: You can, you know, the brother board.
• 3:49
  SPEAKER_02: I can make sure our listeners on it.
• 3:50
  SPEAKER_03: And hey, I don't care what they call it, as long as there's support.
• 3:52
  SPEAKER_03: Sister.
• 3:53
  SPEAKER_03: Caitlin's face is like, I know.
• 3:54
  SPEAKER_02: Wait, what?
• 3:55
  SPEAKER_02: Is he being serious?
• 3:56
  SPEAKER_03: So the old board is still there, and you put a sister board, you sister a board next to that.
• 4:03
  SPEAKER_03: That's a really helpful support.
• 4:05
  SPEAKER_03: That's a good sister.
• 4:06
  SPEAKER_04: That's right.
• 4:06
  SPEAKER_02: That's why it's a sister board.
• 4:07
  SPEAKER_04: Yeah, yes, and not a brother board.
• 4:08
  SPEAKER_04: Yeah.
• 4:09
  SPEAKER_04: Brother boards.
• 4:09
  SPEAKER_02: Brother boards will let you down.
• 4:11
  SPEAKER_04: Somebody's like, punch them down.
• 4:12
  SPEAKER_02: Brothers will let you down.
• 4:12
  SPEAKER_02: So we don't do brother boards.
• 4:14
  SPEAKER_04: So will the inspector tell let them know that?
• 4:17
  SPEAKER_04: Like, yes.
• 4:18
  SPEAKER_04: Like this doesn't mean it's falling apart.
• 4:20
  SPEAKER_04: Or do you guys do that?
• 4:21
  SPEAKER_03: No, the inspector should always let them know.
• 4:23
  SPEAKER_03: And you have you have good inspectors, and then some that really scare them.
• 4:26
  SPEAKER_03: You know, they'll be like, oh my gosh, the house is falling in.
• 4:28
  SPEAKER_03: And you're like, right, this house has been here for a hundred years.
• 4:31
  SPEAKER_03: I doubt if it's gonna fall in.
• 4:32
  SPEAKER_02: So let's go down and look at it and let's one one thing to let our listeners and followers know, and potential buyers and sellers is that an inspector is not a structural engineer.
• 4:41
  SPEAKER_03: No, right.
• 4:41
  SPEAKER_02: All they can say is we see that there is damage, extensive damage on this member, on this part, you may want to get it looked at by a structural engineer.
• 4:50
  SPEAKER_03: Yeah, or contractor.
• 4:52
  SPEAKER_03: Yeah.
• 4:52
  SPEAKER_02: Well, as contractors, we're not structural engineers, but we know if something's load-bearing or not, and all of that.
• 4:58
  SPEAKER_04: Like you talked about yesterday that you you know with your 30 years of experience, but then you always kind of go to a structural engineer and just like, hey, they put their stamp of a person.
• 5:07
  SPEAKER_03: Yeah, like am I doing this right?
• 5:09
  SPEAKER_02: Right.
• 5:09
  SPEAKER_03: Well, I'll give you an example.
• 5:10
  SPEAKER_03: When we were looking at houses with your son.
• 5:13
  SPEAKER_05: Uh-huh.
• 5:13
  SPEAKER_05: Yes.
• 5:14
  SPEAKER_03: And we were in a basement, and I said something about the foundation that there was a crack along that foundation.
• 5:21
  SPEAKER_03: It worried me.
• 5:22
  SPEAKER_03: Yes.
• 5:22
  SPEAKER_03: Okay.
• 5:23
  SPEAKER_03: And you said that's not a worry to me because it is below level or something like that.
• 5:30
  SPEAKER_02: It was above grade.
• 5:30
  SPEAKER_02: It was above grade.
• 5:31
  SPEAKER_02: It was above grade.
• 5:32
  SPEAKER_02: Correct.
• 5:32
  SPEAKER_02: Okay.
• 5:33
  SPEAKER_02: It was below grade, then you have Earth one to push it in.
• 5:35
  SPEAKER_02: It was above grade.
• 5:36
  SPEAKER_03: Okay.
• 5:36
  SPEAKER_03: So it was good that you were there because now, see, I've said I want this looked at.
• 5:41
  SPEAKER_03: Now I didn't say it was falling in, right?
• 5:43
  SPEAKER_04: But I said you handled it very well.
• 5:45
  SPEAKER_04: I was going to say, I don't think that's bad to say have it looked at, no matter what.
• 5:49
  SPEAKER_04: No.
• 5:49
  SPEAKER_04: No.
• 5:49
  SPEAKER_04: Yeah, but you know, you you had the big dog there.
• 5:52
  SPEAKER_04: Yeah, yeah.
• 5:52
  SPEAKER_04: Yeah.
• 5:53
  SPEAKER_03: I almost called you Batman.
• 5:54
  SPEAKER_03: I don't know why.
• 5:55
  SPEAKER_03: And that was our first time actually meeting, wasn't it?
• 5:57
  SPEAKER_03: It was first time I met Lisa.
• 5:59
  SPEAKER_03: Yeah.
• 5:59
  SPEAKER_03: And so, you know, he knew that I was looking out for your son's interest.
• 6:06
  SPEAKER_02: I knew they were in good hands.
• 6:07
  SPEAKER_02: Yeah.
• 6:08
  SPEAKER_03: Because I wasn't just going, oh, that's not a big deal.
• 6:10
  SPEAKER_03: Right.
• 6:10
  SPEAKER_03: I'm just trying to sell.
• 6:12
  SPEAKER_03: I don't know what this is, but we need to have this looked at.
• 6:15
  SPEAKER_03: Because, you know, people like to do all the foo foo up above.
• 6:18
  SPEAKER_03: But if you don't have a good foundation, if you don't have that house didn't have all the foo-foo up top.
• 6:23
  SPEAKER_02: Is it still in the market?
• 6:24
  SPEAKER_03: No.
• 6:24
  SPEAKER_03: Okay.
• 6:25
  SPEAKER_03: Okay.
• 6:25
  SPEAKER_03: Yeah.
• 6:26
  SPEAKER_02: Finally, someone suckered into them.
• 6:27
  SPEAKER_03: Somebody bought that one.
• 6:28
  SPEAKER_03: But but you know, that was a that was a concern that I had.
• 6:32
  SPEAKER_03: And then I had somebody in construction that said that's not a worry for him, which it was a construction person plus a dad.
• 6:40
  SPEAKER_06: Right.
• 6:40
  SPEAKER_04: So like if they go, if an inspector goes in there and they, you know, it this is already under contract or whatever.
• 6:46
  SPEAKER_04: The inspector goes in, they discover something really bad.
• 6:50
  SPEAKER_04: Like, so then who pays for it?
• 6:52
  SPEAKER_04: What do you mean?
• 6:52
  SPEAKER_02: It's a negotiable item.
• 6:53
  SPEAKER_04: Yeah, yeah.
• 6:54
  SPEAKER_04: I mean, oh, okay.
• 6:55
  SPEAKER_04: So it could be either the the seller has to take care of it or the buyer has to take care of it.
• 7:00
  SPEAKER_03: So say there's this say there's a sewer problem.
• 7:02
  SPEAKER_03: They come back and say, hey, the sewer scope found this and this.
• 7:06
  SPEAKER_03: And I say, we can have our sellers look into it, or you as the buyer can have someone who you trust look into it, bring us up.
• 7:15
  SPEAKER_03: Oh, yeah.
• 7:16
  SPEAKER_03: Yeah, yeah, yeah.
• 7:17
  SPEAKER_03: Because who do you want them working for?
• 7:19
  SPEAKER_03: Okay.
• 7:20
  SPEAKER_03: So it doesn't mean that the seller on the other side can't go ahead and do that too and put those two together and see what the deal is.
• 7:26
  SPEAKER_03: But but you always want to investigate.
• 7:29
  SPEAKER_03: Yeah.
• 7:30
  SPEAKER_02: And it's about it's about the communication.
• 7:31
  SPEAKER_02: And again, that's what the professionals at First Trust Reality Pros do is communicate overly, which is great.
• 7:38
  SPEAKER_02: Yeah.
• 7:38
  SPEAKER_02: And so that's getting the buyers and sellers to talk to each other, or in this case, the realtors talking to each other, which are representing the buyer and seller.
• 7:44
  SPEAKER_03: And most realtors want the deal to go through and they want the best for their buyers.
• 7:49
  SPEAKER_03: We want the best for our sellers.
• 7:51
  SPEAKER_03: So we're uh watching what comes in to make sure that it is, you know, true.
• 7:57
  SPEAKER_05: Right.
• 7:57
  SPEAKER_03: Um we want to make sure that any any investigation that's done is done by a licensed, qualified person, you know, not Joe Blow with the wagon behind his bicycle.
• 8:07
  SPEAKER_02: So let's just make sure we understand license in the state of Illinois.
• 8:10
  SPEAKER_02: There's only two licenses in the state of Illinois, plumber and roofers.
• 8:14
  SPEAKER_02: That's the only licenses you have to have in the state for those things.
• 8:17
  SPEAKER_02: Let's just everyone knows that.
• 8:19
  SPEAKER_03: But here's the deal.
• 8:19
  SPEAKER_03: Here's what I say.
• 8:20
  SPEAKER_02: Except for inspectors.
• 8:21
  SPEAKER_02: I would be licensed too.
• 8:22
  SPEAKER_02: Oh, yeah.
• 8:23
  SPEAKER_03: Somebody with a letterhead.
• 8:24
  SPEAKER_03: Yeah.
• 8:25
  SPEAKER_03: That brings, you know, brick and mortar.
• 8:27
  SPEAKER_02: Or not necessarily brick and mortar, yeah.
• 8:28
  SPEAKER_02: But yeah.
• 8:29
  SPEAKER_03: I want somebody, you know, that's been in business for a while.
• 8:31
  SPEAKER_03: Like I use somebody who's been in concrete for 50 years.
• 8:34
  SPEAKER_03: Right.
• 8:35
  SPEAKER_03: Okay.
• 8:35
  SPEAKER_03: I always say I use this person because he's been in the business for 50 years.
• 8:39
  SPEAKER_03: He might not seen a lot as an inspector.
• 8:42
  SPEAKER_03: As an inspector for anything foundation, to come in and check out those.
• 8:46
  SPEAKER_04: Yeah, obviously he would know.
• 8:47
  SPEAKER_02: So and is it true too?
• 8:49
  SPEAKER_02: And and I know we kind of segued off on inspectors and stuff, but we're talking about not letting people go to the dark side.
• 8:55
  SPEAKER_02: But inspectors really, what they're coming in doing is they are like that house we were talking about with with my son, the crack in that.
• 9:02
  SPEAKER_02: The inspector would say visible crack and foundation at mortar joint.
• 9:06
  SPEAKER_02: And that's what it was at mortar joint on that one.
• 9:08
  SPEAKER_02: They don't put in there caused by X.
• 9:11
  SPEAKER_02: No, they're not diagnosing, they're just seeing, right?
• 9:15
  SPEAKER_02: So, like if if mold or moisture, they're just gonna say moisture was seen in this area of the home, and they have a picture that goes along that.
• 9:23
  SPEAKER_02: They don't say, Oh, it's from a dripping pipe from this above, unless they see the dripping pipe, then they'll take a picture of it, pipe is leaking.
• 9:29
  SPEAKER_03: Or they do a moisture.
• 9:30
  SPEAKER_02: So they're not they're not problem solvers, they're problem finders.
• 9:34
  SPEAKER_02: Yes, got it.
• 9:34
  SPEAKER_04: So then who would you call to solve the problem?
• 9:37
  SPEAKER_04: A contractor.
• 9:38
  SPEAKER_04: You would they say like local, what do they usually put?
• 9:41
  SPEAKER_07: Contractor recommended, yeah, like to a local contractor to help someone come and look at it.
• 9:46
  SPEAKER_03: And re-evaluate.
• 9:47
  SPEAKER_03: Okay, okay, okay.
• 9:48
  SPEAKER_03: So re-evaluate and give somebody the assurance that it's okay.
• 9:52
  SPEAKER_03: Yeah, correct.
• 9:53
  SPEAKER_03: And this is where buyers will go, you know, yeah.
• 9:56
  SPEAKER_03: I was gonna say, yeah.
• 9:57
  SPEAKER_03: Okay, I have termites, I have foundation issue, I have, you know, and you say, now wait a minute, let's see what the professionals say, right, and then re-evaluate and see if we can go back to the seller, ask for some money off, or ask them to fix it.
• 10:11
  SPEAKER_02: Because everyone starts getting nervous, right?
• 10:13
  SPEAKER_02: Because the buyer is like, did I just make a huge mistake?
• 10:16
  SPEAKER_02: Exactly.
• 10:17
  SPEAKER_02: And the seller's like, I've lived here 20 years and never had a problem.
• 10:19
  SPEAKER_06: Right, right, right, right, right, right.
• 10:21
  SPEAKER_02: You've got like, yeah, hey, we're fine.
• 10:23
  SPEAKER_02: No, we're not, you know, back and forth.
• 10:25
  SPEAKER_02: And and that's where the experienced professionals can come in and help defuse, pull out the facts, yeah.
• 10:31
  SPEAKER_02: Pull out the facts and look at the solutions and go from there.
• 10:34
  SPEAKER_04: Right.
• 10:35
  SPEAKER_02: Yeah.
• 10:35
  SPEAKER_02: And then then that's awesome.
• 10:37
  SPEAKER_02: So your your job isn't to make that decision for the buyer or seller, it's just to be there as a liaison to make that and to make everybody stay calm.
• 10:45
  SPEAKER_03: I try to tell everybody don't get worried until I call you and tell you to get worried.
• 10:48
  SPEAKER_04: Don't get worried until I get worried.
• 10:49
  SPEAKER_03: Yes.
• 10:50
  SPEAKER_03: Yes.
• 10:50
  SPEAKER_04: Yeah.
• 10:50
  SPEAKER_04: Yeah.
• 10:50
  SPEAKER_02: So so everyone's now everyone's survived the inspection, right?
• 10:54
  SPEAKER_02: We're past the inspection part, everyone's survived.
• 10:56
  SPEAKER_02: And now comes the appraisal.
• 10:58
  SPEAKER_02: Appraisal, right?
• 10:59
  SPEAKER_02: Okay, so what can happen now that could let the deal go to the dark side after with an appraisal?
• 11:05
  SPEAKER_07: The appraisal comes in low.
• 11:07
  SPEAKER_02: Okay, explain low.
• 11:08
  SPEAKER_02: So I know a low, low, low, low.
• 11:10
  SPEAKER_02: Sorry, that's a song.
• 11:13
  SPEAKER_02: What?
• 11:14
  SPEAKER_04: I was getting ready.
• 11:15
  SPEAKER_07: You were getting ready to tell us if the house offer was accepted for 250, it comes in at 220.
• 11:23
  SPEAKER_07: Gotcha.
• 11:23
  SPEAKER_07: They're gonna have to kind of figure out, they're only gonna get lended the money that it appraises for.
• 11:29
  SPEAKER_07: So what what are we gonna do with that gap?
• 11:31
  SPEAKER_07: Is the seller going to go down?
• 11:33
  SPEAKER_07: The buyer's not gonna want to pay more than what the house appraises for.
• 11:37
  SPEAKER_07: So they're gonna kind of have to renegotiate and see.
• 11:39
  SPEAKER_07: Have you had anything happen like this?
• 11:41
  SPEAKER_07: Because I have not yet.
• 11:42
  SPEAKER_03: So yes, I have.
• 11:44
  SPEAKER_03: And so when that happens, you have the the buyer's uh bank's appraiser, goes out and appraises the home, it comes in low.
• 11:51
  SPEAKER_03: The seller feels that that is wrong.
• 11:54
  SPEAKER_03: They don't like the comps that they've used.
• 11:56
  SPEAKER_03: The seller has the option to have their appraiser come in and appraise.
• 12:01
  SPEAKER_03: Okay.
• 12:02
  SPEAKER_03: And now you can go back to that first appraisal and or the appraiser and then um show them the comps that was used and try to make it a better, closer price.
• 12:15
  SPEAKER_02: But the second appraisal by the buyer would be at the buyer's expense, correct?
• 12:20
  SPEAKER_03: The second appraisal would be from the seller.
• 12:22
  SPEAKER_03: Would be from the seller.
• 12:23
  SPEAKER_06: The seller would pay for that if the seller first one came from the first one came from the buyer.
• 12:29
  SPEAKER_02: Okay, I'm sorry, I reversed those.
• 12:30
  SPEAKER_02: I apologize.
• 12:31
  SPEAKER_03: The buyer pays for that first appraisal, and then if that comes in low, then you have the option to do that.
• 12:37
  SPEAKER_03: Now I can show them if I don't like the comps, I can show them comps before we ever get to that second appraisal and say, here are some comps that I feel that these work better.
• 12:48
  SPEAKER_03: Maybe you didn't see them.
• 12:49
  SPEAKER_02: Um, but you can And you really want to be like, yeah, idiot.
• 12:52
  SPEAKER_02: You should have looked right.
• 12:52
  SPEAKER_02: No, I'm just kidding.
• 12:53
  SPEAKER_03: You do.
• 12:54
  SPEAKER_03: And then you have to decide will the seller go ahead and take what the buyer is bringing to the table.
• 13:00
  SPEAKER_02: Right.
• 13:01
  SPEAKER_03: Or are they going to say, no, we're not going to do that?
• 13:04
  SPEAKER_02: But but really, so the buyer doesn't really have a say in who the appraiser is.
• 13:08
  SPEAKER_02: Oh no, it's a third party.
• 13:09
  SPEAKER_02: The bank doesn't either.
• 13:10
  SPEAKER_02: Right.
• 13:10
  SPEAKER_02: The bank puts it in a pool.
• 13:11
  SPEAKER_02: Yep.
• 13:12
  SPEAKER_02: Hey, we need an appraisal at this property, and then it's just above the air and it goes from there.
• 13:16
  SPEAKER_03: Yes.
• 13:16
  SPEAKER_03: Yeah.
• 13:17
  SPEAKER_02: Yes.
• 13:17
  SPEAKER_02: Pulled out of the fishbowl.
• 13:18
  SPEAKER_02: That's right.
• 13:19
  SPEAKER_03: But most of the appraisers try to make it work.
• 13:22
  SPEAKER_03: They don't like to hear us agents called.
• 13:25
  SPEAKER_02: And we've talked about that in previous episodes before about saying it's the magic how that number just comes right where it needs to be.
• 13:31
  SPEAKER_03: Yeah.
• 13:31
  SPEAKER_03: Yeah.
• 13:31
  SPEAKER_03: And so um, and the you know, the banks have a lot to do with that because the banks they go through phases where they're, you know, throwing out the money.
• 13:39
  SPEAKER_03: Yeah.
• 13:39
  SPEAKER_03: And then they have the where we're tightening up the strings.
• 13:42
  SPEAKER_03: And right now we're in a phase that we are tightening up.
• 13:45
  SPEAKER_03: There's going to be a whole different thing in this appraisal section because they're going to have like a 40-page document that they have to fill out for FH.
• 13:55
  SPEAKER_02: What's driving that?
• 13:57
  SPEAKER_02: Federal regulations.
• 13:58
  SPEAKER_03: Federal federal regulations, making sure the house is worthy of the price.
• 14:02
  SPEAKER_03: I think maybe in the past there's been some things that's gotten.
• 14:05
  SPEAKER_02: Are they wanting to avoid another 2008?
• 14:08
  SPEAKER_03: I think so.
• 14:09
  SPEAKER_02: I mean, honestly, the 2008, they're like, or 2006 up to that point.
• 14:12
  SPEAKER_02: You get money.
• 14:13
  SPEAKER_02: You is Oprah for money in houses.
• 14:15
  SPEAKER_02: You get money.
• 14:16
  SPEAKER_02: Everyone gets money.
• 14:16
  SPEAKER_04: And then everything went down.
• 14:18
  SPEAKER_04: 2007.
• 14:20
  SPEAKER_04: Everything went down then.
• 14:21
  SPEAKER_04: I was just reading something about that the other day.
• 14:22
  SPEAKER_04: How like the late 90s and early 2000s was just so great with the economy.
• 14:27
  SPEAKER_04: Oh, yeah.
• 14:27
  SPEAKER_04: It was crazy.
• 14:28
  SPEAKER_04: We didn't even know.
• 14:29
  SPEAKER_04: Lydia was a baby.
• 14:30
  SPEAKER_04: Yeah.
• 14:30
  SPEAKER_02: Was she even a baby?
• 14:31
  SPEAKER_04: I wasn't even a baby.
• 14:33
  SPEAKER_04: She wasn't even born.
• 14:34
  SPEAKER_02: She wondering thought of.
• 14:35
  SPEAKER_02: Maybe thought of, but yeah.
• 14:36
  SPEAKER_03: She wasn't even here yet.
• 14:38
  SPEAKER_03: But in 2007, I started.
• 14:40
  SPEAKER_03: In 2008, the bottom fell out.
• 14:41
  SPEAKER_03: Right.
• 14:42
  SPEAKER_03: And in 2007, getting started, young buyers were coming to me saying, Hey, the bank says I can have 250,000.
• 14:49
  SPEAKER_03: And I'm looking at them and I'm thinking, I know where you're.
• 14:54
  SPEAKER_03: Yeah.
• 14:54
  SPEAKER_03: And I'm going, I don't know, but let's do a budget.
• 14:57
  SPEAKER_03: Let's go through this budget and see where you're at.
• 15:00
  SPEAKER_03: And then they're like, we can't do that.
• 15:02
  SPEAKER_03: And I'm like, I don't think so.
• 15:03
  SPEAKER_03: But let's let's find the price that you can do.
• 15:06
  SPEAKER_04: You know, appraisals, I want to go back to this, but on my mind, like they seem pretty subjective, and I don't really like that considering it's like a huge amount of money that people are going to be buying.
• 15:17
  SPEAKER_04: Like, I feel like I know there's rules and protocol, but if everybody's different, how can you trust the appraiser?
• 15:23
  SPEAKER_04: Yeah.
• 15:24
  SPEAKER_03: I mean, you just have to you have to I mean I could buy somebody appraisers.
• 15:29
  SPEAKER_03: And there there are certain appraisers that I may have a conflict with that I've had conflict with in the past.
• 15:35
  SPEAKER_03: Right.
• 15:36
  SPEAKER_03: And if that appraiser comes through, I will say, let's try a different one.
• 15:39
  SPEAKER_03: I've had conflict with this one in the past.
• 15:42
  SPEAKER_03: Okay.
• 15:42
  SPEAKER_03: And so can we do something different?
• 15:44
  SPEAKER_03: And I've had other agents do the same thing.
• 15:46
  SPEAKER_03: Okay.
• 15:47
  SPEAKER_03: I didn't know.
• 15:48
  SPEAKER_03: Yeah.
• 15:48
  SPEAKER_03: Yes.
• 15:49
  SPEAKER_03: Yes.
• 15:49
  SPEAKER_02: And so you have some control of that.
• 15:51
  SPEAKER_03: You have some control.
• 15:52
  SPEAKER_02: Some voice into that, not control, just voice to say voice to say.
• 15:55
  SPEAKER_03: I thought there was because buyers want to know that they're paying the right amount for the house.
• 15:59
  SPEAKER_03: Yeah.
• 16:00
  SPEAKER_03: Yeah.
• 16:00
  SPEAKER_03: Yeah.
• 16:00
  unknown: Yeah.
• 16:00
  SPEAKER_02: And again, that makes sense.
• 16:01
  SPEAKER_02: I mean, uh, you have that low.
• 16:03
  SPEAKER_02: So if there could be a situation, if price comes in low, like you said, Lydia, right?
• 16:08
  SPEAKER_02: The 30,000 gap on the one example you did.
• 16:10
  SPEAKER_02: But if someone really wants that house and they have the means to make up the gap to appease the bank for the equity gap, then they could pay that$30,000 difference if if they didn't want to negotiate with the seller to lower the price.
• 16:23
  SPEAKER_03: Yeah.
• 16:24
  SPEAKER_03: Or sometimes the seller will say, Hey, I'll come down if you'll come up.
• 16:27
  SPEAKER_03: And we'll meet in the middle.
• 16:28
  SPEAKER_03: Meet in the middle.
• 16:29
  SPEAKER_03: Yeah.
• 16:29
  SPEAKER_03: They'll bring some.
• 16:30
  SPEAKER_03: Sounds like a country song.
• 16:31
  SPEAKER_03: Yeah.
• 16:33
  SPEAKER_03: In the middle.
• 16:34
  SPEAKER_03: That's right.
• 16:34
  SPEAKER_03: There she goes.
• 16:35
  SPEAKER_03: Yeah.
• 16:35
  SPEAKER_03: Well, if they dig down in their sock, they could find$5,000,$10,000.
• 16:39
  SPEAKER_02: You carry that kind of pocket change.
• 16:41
  SPEAKER_03: In my socket.
• 16:41
  SPEAKER_02: In your boot?
• 16:42
  SPEAKER_03: Yep.
• 16:42
  SPEAKER_03: In your boot.
• 16:43
  SPEAKER_02: In your boot.
• 16:43
  SPEAKER_02: So that's called my money sock.
• 16:45
  SPEAKER_03: In that appraisal, the appraiser can be also an inspector.
• 16:48
  SPEAKER_03: So there are certain guidelines that you have to, you know, follow for the bank.
• 16:54
  SPEAKER_03: You know, your GFCIs and different things like that.
• 16:57
  SPEAKER_02: Ground fault circuit interrupt.
• 16:58
  SPEAKER_02: Yes.
• 16:58
  SPEAKER_02: Just with the acronyms of CIO.
• 17:00
  SPEAKER_03: Say it slower.
• 17:01
  SPEAKER_02: GFCI is the funky local outlet in the in wet spaces, kitchens around sinks and in bathrooms.
• 17:08
  SPEAKER_02: Ground fault circuit interrupt.
• 17:10
  SPEAKER_04: Got it.
• 17:10
  SPEAKER_04: Okay.
• 17:11
  SPEAKER_04: So yeah.
• 17:11
  SPEAKER_04: Peeling paint.
• 17:12
  SPEAKER_02: If it's hit with water, boom, kills power.
• 17:14
  SPEAKER_02: Oh, yeah.
• 17:15
  SPEAKER_02: Correct.
• 17:15
  SPEAKER_02: Yeah.
• 17:15
  SPEAKER_02: Peeling paint.
• 17:16
  SPEAKER_02: Don't like that.
• 17:17
  SPEAKER_02: Depend on the age of the home.
• 17:18
  SPEAKER_02: Yep.
• 17:19
  SPEAKER_02: Yeah.
• 17:19
  SPEAKER_03: It could be lead.
• 17:20
  SPEAKER_03: Yeah.
• 17:20
  SPEAKER_03: Which we're getting somewhat out of that.
• 17:22
  SPEAKER_03: Mostly depends on the on the home.
• 17:24
  SPEAKER_03: Yeah.
• 17:25
  SPEAKER_03: But financing can just blow a deal.
• 17:28
  SPEAKER_02: So so now we've got past the past the inspections, everyone's happy.
• 17:31
  SPEAKER_02: Appraisals, numbers, we're good on numbers.
• 17:33
  SPEAKER_02: Yes.
• 17:34
  SPEAKER_02: And now we're at the financing stage, right?
• 17:36
  SPEAKER_07: Yes.
• 17:37
  SPEAKER_02: Something shifts last minute.
• 17:38
  SPEAKER_07: Well, I feel like a lot of people also think, which we've touched on this, people think pre-approvals is just you're approved, like the loan's going to go through.
• 17:45
  SPEAKER_07: And that is not how it works at all.
• 17:47
  SPEAKER_02: Is that just like a high overview of their finances?
• 17:50
  SPEAKER_02: Like we think you're good for this amount.
• 17:53
  SPEAKER_07: Yes.
• 17:54
  SPEAKER_07: Once it gets to underwriting, that's when everything really kind of settles in and happens and sees what documents you have left, what if your income has changed, if your employment's changed.
• 18:03
  SPEAKER_07: Um, you don't want to go out and buy a truck or buy new furniture or get any like finance it and then you're not going to be able to do that.
• 18:07
  SPEAKER_02: Yeah, Lisa's talked to us about that on several occasions.
• 18:10
  SPEAKER_07: That's gonna that's gonna make a huge deal.
• 18:11
  SPEAKER_07: You can't go and buy a vehicle while you're trying to buy a house and finance it.
• 18:15
  SPEAKER_07: Or change things.
• 18:16
  SPEAKER_07: Or change jobs.
• 18:17
  SPEAKER_07: You don't want to have to change jobs because you've got to have that employment status and all the documents for the loan.
• 18:23
  SPEAKER_04: Yeah.
• 18:23
  SPEAKER_04: I mean, even a simple credit card, you probably wouldn't want to open.
• 18:26
  SPEAKER_07: No, no, not at all.
• 18:28
  SPEAKER_02: Well, like we talked last week's episode that you weren't here, Caitlin, is if you're going to acquire the lease of a solar panel system, you want to make sure it's doesn't happen prior to closing.
• 18:38
  SPEAKER_02: Yeah.
• 18:41
  SPEAKER_03: Yeah.
• 18:42
  SPEAKER_03: You got to stay in tune with your I'm dealing with one right now that that the buyers change jobs.
• 18:49
  SPEAKER_03: They're in the same field, they're getting paid more, but because of the job change, and we're getting down to the nitty-gritty of closing is in, you know, maybe 10 days.
• 18:58
  SPEAKER_03: Now they need a pay stub.
• 19:00
  SPEAKER_03: Yeah.
• 19:01
  SPEAKER_03: Well, what if they don't get paid but once a month?
• 19:03
  SPEAKER_03: Right.
• 19:03
  SPEAKER_03: Now you haven't hit that pay stub.
• 19:05
  SPEAKER_02: So they need that pay stub to want a couple months or don't they?
• 19:10
  SPEAKER_02: Or they change that.
• 19:11
  SPEAKER_03: Well, it depends on the other.
• 19:12
  SPEAKER_02: They usually want two.
• 19:13
  SPEAKER_02: Usually they want more than one.
• 19:14
  SPEAKER_02: Yeah.
• 19:14
  SPEAKER_02: Is what I'm saying.
• 19:14
  SPEAKER_02: Just to say, oh, yeah.
• 19:15
  SPEAKER_02: Oh, you got technically.
• 19:17
  SPEAKER_03: Well, I wonder if his work will write him a letter or something.
• 19:20
  SPEAKER_03: Well, and they will.
• 19:21
  SPEAKER_03: I mean, they'll they're working on all of those things.
• 19:23
  SPEAKER_03: But those are the things you're like, you want to get that information to your lender at the beginning of the deal so that you don't so they're collecting the information they need first week of the 35 days or 45 days instead of 10 days before.
• 19:39
  SPEAKER_02: Yeah.
• 19:40
  SPEAKER_02: So until you have the keys.
• 19:42
  SPEAKER_07: Don't do anything financially to mess it up.
• 19:45
  SPEAKER_02: There you go.
• 19:45
  SPEAKER_02: Awesome.
• 19:46
  SPEAKER_02: Those that is of wisdom that's great.
• 19:48
  SPEAKER_04: I was getting ready to say straightforward to the point, right from the case.
• 19:51
  SPEAKER_02: Great words of wisdom from Lydia at First Choice Realty Pro.
• 19:54
  SPEAKER_02: That's right.
• 19:55
  SPEAKER_02: If you want to talk to them, you can talk to them at 217-825-399-999.
• 19:59
  SPEAKER_02: So financing's in place, but while financing's going on, right?
• 20:03
  SPEAKER_02: There's behind-the-scene work going on at the title company, right?
• 20:06
  SPEAKER_03: All the time.
• 20:07
  SPEAKER_02: So what's some things that could creep this over to the dark side because of title?
• 20:12
  SPEAKER_03: When you paid a house off, say you had a house two houses ago, okay, and you paid it off, but you did not get that documentation from the bank.
• 20:22
  SPEAKER_03: There could be an unreleased mortgage.
• 20:25
  SPEAKER_03: It is paid off, but the bank still shows that there is a mortgage on the a lien or a whole.
• 20:30
  SPEAKER_02: Yeah.
• 20:30
  SPEAKER_02: Oh.
• 20:31
  SPEAKER_03: And so that can stop some stuff.
• 20:33
  SPEAKER_03: And then you got to go back, and the bank even has to go back into old files.
• 20:38
  SPEAKER_03: When you pay off your home, please get that documentation that you have that paid off.
• 20:44
  SPEAKER_03: Just like you always lockbox.
• 20:46
  SPEAKER_03: Everything in writing.
• 20:46
  SPEAKER_03: Documentation.
• 20:47
  SPEAKER_02: And andor that at the title company, or not title company, but at the courthouse that it's been recorded that it has been paid off.
• 20:53
  SPEAKER_03: Yes.
• 20:54
  SPEAKER_02: Well, yeah, no, no lien on that property anymore.
• 20:57
  SPEAKER_03: Yes.
• 20:57
  SPEAKER_03: You you could have done something with somebody while you were doing, you know, building a hole or remodeling and somebody put a lien because you didn't.
• 21:05
  SPEAKER_02: Contractor put a lien on there.
• 21:07
  SPEAKER_03: Put a lien, and they don't even know it until they go, and they're like, you have to pay this lien off before you can do the rest of it.
• 21:14
  SPEAKER_03: So that's a that's so don't mess with us.
• 21:16
  SPEAKER_02: We'll put liens on your house.
• 21:18
  SPEAKER_03: Yeah.
• 21:18
  SPEAKER_03: Don't you don't want that at the closing time to sit down and get out.
• 21:22
  SPEAKER_03: Yeah.
• 21:23
  SPEAKER_03: The title company lets us know that ahead of time.
• 21:25
  SPEAKER_02: Right.
• 21:26
  SPEAKER_02: And again, this is where the creep to the dark side happens when all the communication's going on.
• 21:30
  SPEAKER_03: Some of the homes in a smaller community have shared driveways.
• 21:34
  SPEAKER_03: And so, and sometimes it was, you know, the neighbors got together and they shook their hands.
• 21:38
  SPEAKER_03: Yeah, they shook hands.
• 21:40
  SPEAKER_03: Back in the day, I love that that you could shake a person's hand and not have any problems.
• 21:45
  SPEAKER_02: Yep, we're good.
• 21:46
  SPEAKER_03: Today, you know, don't be you'll get punched in the eye.
• 21:50
  SPEAKER_03: Yeah.
• 21:50
  SPEAKER_03: Yeah, there you go.
• 21:51
  SPEAKER_02: Yeah.
• 21:52
  SPEAKER_03: They don't want you on their property, or they didn't understand right up the middle of the driveway.
• 21:56
  SPEAKER_02: And now either make it wider or more.
• 22:00
  SPEAKER_04: Easements.
• 22:00
  SPEAKER_04: Easements of any kind anywhere are always causing problems.
• 22:04
  SPEAKER_04: They could be.
• 22:05
  SPEAKER_04: You know, they're always it's always quite there's there's one easement going on right now, I won't say, but you know, it's it's I've been following it.
• 22:12
  SPEAKER_04: So I'm I'm ready to yeah, it's oh boy.
• 22:15
  SPEAKER_03: Yeah, it's it's crazy.
• 22:16
  SPEAKER_03: And you're right to you have to know where your boundary lines are.
• 22:21
  SPEAKER_03: If you don't trust your neighbor, if you don't like the people that you're moving next to, then you better make sure that you know your boundary lines.
• 22:30
  SPEAKER_03: Right now, and surveys are out there.
• 22:32
  SPEAKER_03: And you can go out to the courthouse, yeah, you know, yeah.
• 22:35
  SPEAKER_02: But most title issues can be worked through.
• 22:37
  SPEAKER_02: Oh, absolutely.
• 22:38
  SPEAKER_02: It may push the closing a little bit if it's something in depth where they got to dig through old dusty boxes of files to find something.
• 22:46
  SPEAKER_02: Right.
• 22:46
  SPEAKER_02: Right.
• 22:46
  SPEAKER_02: But most of those things.
• 22:47
  SPEAKER_03: And that's why those commitments are so important to have early so that we can be working through those, because you don't want to miss those closing dates.
• 22:56
  SPEAKER_03: You don't want to prolong something.
• 22:58
  SPEAKER_03: No, because it'll just push it out.
• 23:00
  SPEAKER_03: And then the buyer calls and says, I've decided I don't want to buy that one.
• 23:04
  SPEAKER_04: Right.
• 23:05
  SPEAKER_04: If it goes too long, they get to thinking and then they'll get the cold feet.
• 23:08
  SPEAKER_02: They get the cold feet.
• 23:09
  SPEAKER_02: Yeah, cold feet.
• 23:10
  SPEAKER_04: If you do it quicker, they don't have time to think.
• 23:13
  SPEAKER_04: I want them to push on and help.
• 23:15
  SPEAKER_04: We're not trying to get cattle here, but yeah, no.
• 23:19
  SPEAKER_04: No, no, no.
• 23:20
  SPEAKER_04: But if they if if it is going way too long, you are gonna sit there, especially being a woman.
• 23:25
  SPEAKER_04: I'm gonna sit there and be like, maybe this is God.
• 23:28
  SPEAKER_04: Like have it be saying a sign, like it's taking too long.
• 23:31
  SPEAKER_04: You know, that's what I'm saying.
• 23:32
  SPEAKER_04: I'm not saying they're saying go on getting in there, too.
• 23:36
  SPEAKER_06: Cal prod.
• 23:38
  SPEAKER_03: No, no, no.
• 23:39
  SPEAKER_03: We want them to make sure that you know that this is what they want, and that's why we look at it two, three, four times before.
• 23:45
  SPEAKER_04: And I imagine that title stuff's probably more difficult for like something like your house, like that was so old.
• 23:54
  SPEAKER_03: Well, it will take uh we we bought land and it took them a long time to get the title because they had to go all the way back into the 1800s and get where it was at.
• 24:02
  SPEAKER_03: I mean, it's it's super cool when you go back to it.
• 24:05
  SPEAKER_03: It is cool.
• 24:05
  SPEAKER_04: Yeah, what's the document look like?
• 24:07
  SPEAKER_04: Is it look old?
• 24:08
  SPEAKER_03: Oh, it's old.
• 24:09
  SPEAKER_02: Well, see, it's like our it's like our showroom property we're at here at the studio.
• 24:12
  SPEAKER_02: You know, we oh yeah, we all the way back because 1857 there was a brewery here on this.
• 24:17
  SPEAKER_04: Yeah, that's right, that's right.
• 24:18
  SPEAKER_02: Right.
• 24:19
  SPEAKER_02: And then it was multiple pieces of property, then merged pieces of property, and then when we even bought it, it was two parcels split by an old road that had been paid for on both sides of that that line, which was an easement for over well, decades.
• 24:33
  SPEAKER_02: But there's a period that if you don't mind that, folks, just getting anxious, throwing crap around.
• 24:39
  SPEAKER_02: No, but no, it's it's one of those things where if you can prove that you've paid the taxes on both sides of something or one side and maintained that property, then you can acquire that property.
• 24:48
  SPEAKER_02: So that same thing, the title, they had to go back through and do all that stuff for when we bought this.
• 24:52
  SPEAKER_02: Which is interesting.
• 24:53
  SPEAKER_04: Yeah, I was gonna say it would take some time.
• 24:54
  SPEAKER_02: Yeah, yeah.
• 24:55
  SPEAKER_02: And like my family farm was built in 1887 and it had been acquired more land and then parts sold off and stuff like that.
• 25:01
  SPEAKER_02: Right, right.
• 25:02
  SPEAKER_02: The cold feet thing, though, is I'm out.
• 25:04
  SPEAKER_04: And it could happen on both sides, right?
• 25:06
  SPEAKER_04: Absolutely.
• 25:06
  SPEAKER_02: Can a seller say, Yeah, I'm not I'm not selling it.
• 25:09
  SPEAKER_02: I'm not giving up the home.
• 25:10
  SPEAKER_03: I'm I had now someone called one day and said, I just don't think I can do it.
• 25:16
  SPEAKER_03: I just remember all the memories from my my kids growing up here.
• 25:20
  SPEAKER_03: I just don't So then I had to say, Okay, let's talk about the first day that you called me and all the reasons why you said you wanted to sell.
• 25:28
  SPEAKER_03: So let's go back to that.
• 25:30
  SPEAKER_03: Lisa's good.
• 25:31
  SPEAKER_03: And and now we started talking.
• 25:33
  SPEAKER_03: And by the time we got through, she said, You're right.
• 25:36
  SPEAKER_03: I said, You want to make a clean break.
• 25:38
  SPEAKER_03: You're wanting to break some of those memories, and you want to make a clean break and have the money to go do whatever you want to do.
• 25:44
  SPEAKER_03: And she said, I'm so glad that I called.
• 25:46
  SPEAKER_03: And now, yes, I'm gonna go through with it.
• 25:49
  SPEAKER_04: I like how you handled that because you put that right back into her, you know, like made her answer the questions.
• 25:55
  SPEAKER_04: You weren't telling her, like, this is why you need to do it, this is why you need to do it.
• 25:58
  SPEAKER_03: Very good, Lisa.
• 25:59
  SPEAKER_03: Very good.
• 25:59
  SPEAKER_03: If I would have said, Well, you're gonna be in default of your contract and you're gonna get sued right off the bat, now she would have been nervous and mad all at the same time.
• 26:07
  SPEAKER_03: Nervous and mad is never good.
• 26:08
  SPEAKER_06: No, no, no, no.
• 26:10
  SPEAKER_03: And so let's go back to why you called me in the first place, what your thoughts were when you wanted to sell, and let's get back to that because it had taken a little bit.
• 26:20
  SPEAKER_03: Those 45 days, there it's important to be looking forward, the seller looking forward to what they're doing, the buyer looking forward to owning what they're going to be owning.
• 26:30
  SPEAKER_02: I like that.
• 26:30
  SPEAKER_02: Well, and I'm glad you said contract, because once you sign the contract, simply changing your mind doesn't necessarily mean you can walk away without consequences.
• 26:39
  SPEAKER_02: Right.
• 26:39
  SPEAKER_02: So because it is a it is a binding contract.
• 26:42
  SPEAKER_02: Absolutely can because people have invested time and money and or stopped their search elsewhere at homes that may have come and gone.
• 26:49
  SPEAKER_02: And so yeah, what happens to them?
• 26:51
  SPEAKER_03: Do they go to jail?
• 26:52
  SPEAKER_03: I've watched.
• 26:54
  SPEAKER_03: I've watched first-time homebuyers.
• 26:56
  SPEAKER_03: The it's a couple, they're getting married, he's signing, and the the guy I'm watching him, he's turning white, he's kind of slumping down in his seat.
• 27:05
  SPEAKER_03: He's, you know, and and so I'll stop and I'll pull the contract and I'll say, now look, this is a legal binding contract.
• 27:11
  SPEAKER_03: Yes.
• 27:11
  SPEAKER_03: What you are getting ready to sign is legal.
• 27:14
  SPEAKER_03: It's saying that you intend on doing these things.
• 27:18
  SPEAKER_03: If there's anything in here that you don't feel that you can do at this point, then it's not the thing for you.
• 27:23
  SPEAKER_03: So I'm not just pushing this towards them because I'm getting married, I'm I'm buying a home, whatever it is that's going on in life.
• 27:31
  SPEAKER_03: So we we walk through that with them, make sure that it's okay.
• 27:35
  SPEAKER_03: And then they said, no, no, no, I want to.
• 27:37
  SPEAKER_03: Yeah, I want to.
• 27:38
  SPEAKER_03: Let's get excited.
• 27:39
  SPEAKER_04: Let's talk about the excitement of owning.
• 27:41
  SPEAKER_04: Yeah.
• 27:42
  SPEAKER_04: Yes.
• 27:42
  SPEAKER_04: I love this.
• 27:43
  SPEAKER_04: I love how you deal with this.
• 27:44
  SPEAKER_04: And again, that's the real estate mom and herd.
• 27:47
  SPEAKER_03: It is the mom.
• 27:47
  SPEAKER_03: It is the mom.
• 27:48
  SPEAKER_03: And you watch that and you see it in their eyes and in their face, and you can tell very quickly if they've decided this is not.
• 27:56
  SPEAKER_03: I mean, it's there's a nervousness that you can see in the face that this is not what I'm supposed to be doing.
• 28:01
  SPEAKER_03: So let's stop.
• 28:02
  SPEAKER_02: Lydia, have you seen that yet?
• 28:04
  SPEAKER_07: Well, I think we both have the same look on that, at least.
• 28:07
  SPEAKER_07: My thing is, is whenever I'm walking through with my clients, I don't want to just be their realtor.
• 28:12
  SPEAKER_07: Like, I want to be there as their friend.
• 28:13
  SPEAKER_07: Their friend, right.
• 28:14
  SPEAKER_07: Yeah.
• 28:14
  SPEAKER_07: I have a client right now texting me about babysitters and stuff just in the area because they moved here over the summer.
• 28:20
  SPEAKER_05: Right.
• 28:20
  SPEAKER_07: And they have ran into a problem.
• 28:22
  SPEAKER_07: And I want them to be able to come to me for other stuff as well.
• 28:25
  SPEAKER_07: So, like you just saying how you sat down with her over the phone, I guess, with her about walking her back through from the beginning.
• 28:31
  SPEAKER_07: I feel like that's the way you have to approach things and not just be a realtor to them.
• 28:36
  SPEAKER_07: You don't want to just tell them all the rules and regulations and everything.
• 28:39
  SPEAKER_07: You want to be able to have normal conversations with them.
• 28:41
  SPEAKER_04: Well, give them advice as you would your friend or your sister or your daughter.
• 28:45
  SPEAKER_04: You know.
• 28:46
  SPEAKER_03: Well, when that lady called me, I was in the middle of nowhere.
• 28:48
  SPEAKER_03: I was down in a goalie at picnic thing.
• 28:51
  SPEAKER_03: And I said, Hold on and let me get to the top of this hill because I don't want to lose you because I think this is a conversation that we need to finish.
• 29:00
  SPEAKER_03: Right.
• 29:01
  SPEAKER_03: You know, if I'm like, oh it you can't hear what I'm saying, you know.
• 29:05
  SPEAKER_02: Folks, that's not an audio issue.
• 29:07
  SPEAKER_03: That's that was actually a good impersonation of losing service.
• 29:11
  SPEAKER_03: Yeah, I must say.
• 29:12
  SPEAKER_03: And and I wanted her to know that I cared enough to take the time to follow through.
• 29:17
  unknown: Right.
• 29:17
  SPEAKER_02: Love it.
• 29:18
  SPEAKER_02: Well, so what's the stuff that you don't see that could be making people go to the dark side if they don't see it?
• 29:25
  SPEAKER_07: I think for me, at least people always wonder like, what are our agents actually doing for us?
• 29:29
  SPEAKER_07: I think our biggest role in that is communicating with our sellers or buyers and letting them know, at least like for me, and I know you do the same, letting them know every step where we're at.
• 29:38
  SPEAKER_07: I'm always staying in contact with them, not five times a day, but at least every day, every other day, depending on what step we're at in the part in the process of it.
• 29:47
  SPEAKER_07: Keep just keeping them up to date.
• 29:48
  SPEAKER_07: Like, hey, here's why here's the update from the title company, here's the update.
• 29:51
  SPEAKER_07: The appraisal got moved from Monday to Friday.
• 29:53
  SPEAKER_07: Just letting them know every step of the way and not just, oh, okay, now we're going to closing and they don't know anything else that's really going on.
• 30:00
  SPEAKER_04: And I don't think people realize how much work it takes to sit here and schedule and communicate with all these people, the title company, the bank, the seller, the buyer, all everything.
• 30:10
  SPEAKER_04: That you're setting up that the buyer would have to do themselves had they not hired you.
• 30:15
  SPEAKER_07: Well, not even just that.
• 30:16
  SPEAKER_07: Like we're going to the inspections, we're going to the doing anything with the title company that we have to do, and we're relaying the messages back and forth between everyone, which is what we're supposed to do.
• 30:25
  SPEAKER_07: Yeah.
• 30:26
  SPEAKER_07: Um, I just think that's a big key, and it is always communication is open on both ends.
• 30:31
  SPEAKER_02: Right.
• 30:31
  SPEAKER_03: And if there's ever um something that they need to or we need to look up at the courthouse or information like that, I always say, Hey, I want you to call because here's the information that I got, but I want you to hear it from the horse's mouth.
• 30:44
  SPEAKER_03: Okay.
• 30:45
  SPEAKER_06: Correct.
• 30:45
  SPEAKER_03: I don't ever want them to come back and say, Lisa, Lydia, you gave us wrong information.
• 30:49
  SPEAKER_03: Yes.
• 30:50
  SPEAKER_03: Because anything can change.
• 30:51
  SPEAKER_03: A covenant, uh, anything, I always say, this is a covenant that we were given at this time.
• 30:56
  SPEAKER_03: But if you want to call this number, you ask them for the best documentation.
• 31:02
  SPEAKER_02: And that's that's why, again, you guys are the professionals at First Choice Realty Pros, right?
• 31:07
  SPEAKER_02: Because you're making the phone calls, you're talking with lenders, you're communicating with inspectors, you're working with the title companies and attorneys if they're involved, right?
• 31:16
  SPEAKER_02: You're negotiating between the buyers and sellers, you're watching the deadlines and you're documenting conversations to have that there.
• 31:23
  SPEAKER_02: And that's why sometimes you're trying to keep everyone calm enough to make decisions, good decisions instead of emotional ones.
• 31:30
  SPEAKER_03: Right.
• 31:30
  SPEAKER_02: Right.
• 31:30
  SPEAKER_03: Because that's when people have buyers' regret or sellers' remorse.
• 31:34
  SPEAKER_03: Right, right.
• 31:35
  SPEAKER_02: You have either or that's right.
• 31:37
  SPEAKER_02: So you can.
• 31:38
  SPEAKER_02: So, and I know that if any of our followers or listeners want to get a hold of you, they're gonna reach out to you at 217-825-3999 or find you on the beautiful interweb at first choicerealitypros.com.
• 31:51
  SPEAKER_02: That's the number one stchoice realitypros.com.
• 31:54
  SPEAKER_02: Any final thoughts?
• 31:56
  SPEAKER_07: That's pretty much it.
• 31:57
  SPEAKER_07: Don't go to the dark side.
• 31:59
  SPEAKER_07: Look at that.
• 32:00
  SPEAKER_02: See, see?
• 32:02
  SPEAKER_02: Awesome.
• 32:03
  SPEAKER_02: Well, here's what our folks and our professionals at first choice reality pros.
• 32:07
  SPEAKER_02: That's a mouthful today.
• 32:08
  SPEAKER_02: That's all right.
• 32:09
  SPEAKER_02: We want buyers and sellers to remember is a problem doesn't automatically mean the deal is dead.
• 32:14
  SPEAKER_02: So don't creep to the dark side.
• 32:16
  SPEAKER_02: You guys have seen transactions hit some pretty big bumps and still make it all the way to the closing table to hand the keys to the new buyer, right?
• 32:23
  SPEAKER_02: And the key is figuring out what is actual the problem is, can it be fixed?
• 32:27
  SPEAKER_02: What does the contract say?
• 32:29
  SPEAKER_02: And what is our client's best interest?
• 32:32
  SPEAKER_02: And that's why you guys are the professionals of that, right?
• 32:35
  SPEAKER_02: So that side of real estate you don't see in the sold picture on Facebook or the red carpet treatment that you guys give your clients, which is awesome.
• 32:43
  SPEAKER_02: You see the smiling buyers holding the keys.
• 32:46
  SPEAKER_02: You don't see everything else that made that happen to get them to that point.
• 32:50
  SPEAKER_02: So, and that is the dark side of real estate that you don't want to get to, right?
• 32:55
  SPEAKER_07: Yep.
• 32:55
  SPEAKER_07: Yep.
• 32:56
  SPEAKER_02: That's why these folks have their lightsabers out.
• 32:59
  SPEAKER_04: I was just gonna say, Lou.
• 33:02
  SPEAKER_02: Lydia.
• 33:03
  SPEAKER_02: Holy cow, that's the wrong dark side.
• 33:05
  SPEAKER_02: We're not talking about.
• 33:11
  SPEAKER_02: Hey, this has been another episode of Designing Building the Midwest One Community at a time, the realtor segment with our professionals from First Choice Realty Pros.
• 33:20
  SPEAKER_02: Thank you, Lisa and Lydia, for being in here.
• 33:22
  SPEAKER_02: And as usual, Caitlin, thank you for your charming 12-year-old entertainment.
• 33:26
  SPEAKER_06: Thank you.
• 33:27
  SPEAKER_06: With that, bye.
• 33:30
  SPEAKER_00: In the military, there's no such thing as good enough.
• 33:33
  SPEAKER_00: You either do the job the right way or you don't do it at all.
• 33:36
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• 33:39
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• 33:44
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• 33:50
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• 34:04
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• 34:34
  SPEAKER_04: And that wraps up another episode of Designing and Building the Midwest, one community at a time.
• 34:40
  SPEAKER_04: Thank you so much for tuning in and listening with us today.
• 34:43
  SPEAKER_02: We hope you walked away with some valuable insights to use in your home or neighborhood.
• 34:47
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• 34:53
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• 34:58
  SPEAKER_02: Until next time, I'm Chris.
• 35:00
  SPEAKER_04: And I'm Caitlin.
• 35:01
  SPEAKER_04: Thanks for hanging out with us, and we'll see you next time.
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