Latest / Connor with Honor: AI, Real Estate and Real Life / Looking to the best Artificial Intelligence classes for Santa Clarita Valley businesses and Realtors - Join SantaClaritaAI.com

Transcript

Looking to the best Artificial Intelligence classes for Santa Clarita Valley businesses and Realtors - Join SantaClaritaAI.com · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good everybody.
• 0:00
  SPEAKER_00: We're at the 7th of August, 2025.
• 0:03
  SPEAKER_00: This is your Santa Clarita real estate update.
• 0:05
  SPEAKER_00: Yeah, we're up 16 from yesterday.
• 0:07
  SPEAKER_00: We had a pretty large decline in listings yesterday, about 30 over that past 24-hour period from yesterday to the day before.
• 0:16
  SPEAKER_00: Now we're up 16.
• 0:18
  SPEAKER_00: So right now we're sitting at 796 active listings.
• 0:23
  SPEAKER_00: The market's very, it fluctuates quite a bit.
• 0:26
  SPEAKER_00: So we'll see those big differences, and some of them begin a trend.
• 0:30
  SPEAKER_00: We don't happen to see that in this particular case, but let's say listings would have also declined again today and tomorrow.
• 0:36
  SPEAKER_00: When I do my daily updates over time, we would see that the market definitely went under a change or a switch.
• 0:42
  SPEAKER_00: I don't see that currently.
• 0:44
  SPEAKER_00: Currently, we have 13 coming soon listings that have been placed the last seven days.
• 0:48
  SPEAKER_00: 69 new listings have hit the market in the last 24 hours.
• 0:51
  SPEAKER_00: 102 properties have had their prices changed.
• 0:53
  SPEAKER_00: Again, most of those are reductions.
• 0:55
  SPEAKER_00: Almost all are reductions, with the exception of about five.
• 0:59
  SPEAKER_00: I still think the five that have their prices increased are interesting.
• 1:05
  SPEAKER_00: And that's out of 100, you have that percentage, about 5% of agents that are entering properties into the multiple listing service to have them showing as for sale, screw up and end up putting the wrong price.
• 1:19
  SPEAKER_00: And then when they go in to correct it, the number switch that they had encountered happened to result in them needing to increase the price to the correct number.
• 1:30
  SPEAKER_00: And then it's already locked in.
• 1:32
  SPEAKER_00: Once you publish that listing as a real estate agent into the multiple listing service, it's very unforgiving.
• 1:38
  SPEAKER_00: And it's unforgiving on purpose.
• 1:41
  SPEAKER_00: Because it wants to make that historical record.
• 1:43
  SPEAKER_00: That's why when agents are inputting properties and they get to the publish point, they really need to make sure everything's correct.
• 1:50
  SPEAKER_00: Because if they then hit the button and then they screwed up on that listing price, they can't get it reset.
• 1:56
  SPEAKER_00: You can't call the board and say, hey, would you please do this?
• 1:59
  SPEAKER_00: I made a mistake.
• 2:00
  SPEAKER_00: It has to be completely canceled.
• 2:03
  SPEAKER_00: And then that makes the historical record where you show a listing that was for sale for a hot second and then it actually gets canceled, even if that's allowed.
• 2:12
  SPEAKER_00: I've never walked down that pathway, but for them to be able to change it so the price shows up as new or a new listing and not a price increase, yeah, they won't do it.
• 2:22
  SPEAKER_00: And that's that's because it's trying to be protective of the data so people don't go in there and screw around and try to generate leads on real estate listings that aren't appropriately positioned.
• 2:34
  SPEAKER_00: So they basically go in and they modify the numbers, trying to elicit some kind of syndication pull out there, which you see those the syndication sites, the Zillows, the Trulius, Realtor.com, when they pull those listings, whenever there's a change, they pull them again.
• 2:49
  SPEAKER_00: So you'll see those listings propagate to the top part of the search.
• 2:53
  SPEAKER_00: And when that happens, again, if if that was able to be done by just modifying the price without having any ramifications, i.e., a price showing is an increase or a decrease.
• 3:04
  SPEAKER_00: And maybe those aren't negative in any form, but once you make those changes, it needs to show whether it's an increase or a decrease instead of just rendering the record, showing that there's no historical component to having that price modified whatsoever, then it doesn't make the record.
• 3:20
  SPEAKER_00: So you really don't know how to best take advantage of whatever market.
• 3:24
  SPEAKER_00: If that makes sense, good God bless you.
• 3:26
  SPEAKER_00: All right, so as far as real estate goes out there, we've been watching as we have been adding more listings uh to the market for sale.
• 3:34
  SPEAKER_00: This has been transitioning over the past, well, since January of this year.
• 3:38
  SPEAKER_00: Back at that time, we were somewhere around eight, uh, 500, excuse me, 450, 500.
• 3:44
  SPEAKER_00: Now we've progressed as of uh August 7th.
• 3:48
  SPEAKER_00: We've now gotten up around 800.
• 3:50
  SPEAKER_00: So plus or minus, it's been stuck there for about the last month and a half.
• 3:54
  SPEAKER_00: We haven't seen a major increase in any way.
• 3:57
  SPEAKER_00: We've been up 20, down 30, and so on, but it's really pretty much stagnant.
• 4:02
  SPEAKER_00: As far as the Fed goes, as far as lowering that uh Fed funds rate, we don't see that happening either.
• 4:08
  SPEAKER_00: Looks like the Fed, uh, Jerome Powell said negative Ghost Rider.
• 4:11
  SPEAKER_00: We're gonna leave those rates the same.
• 4:13
  SPEAKER_00: That being the case, then there's other things talked about.
• 4:16
  SPEAKER_00: Is it a fact that they might be able to pull capital gains from needing to be paid on properties?
• 4:21
  SPEAKER_00: That would help a small sliver of people out there that own real estate that need to sell it, that aren't selling it because of tax consequences.
• 4:30
  SPEAKER_00: I don't see that kicking off a lot of buying, but it would help those people that are looking to offload properties here in the near future that are going to be facing those major tax consequences.
• 4:41
  SPEAKER_00: Capital gains are heavy.
• 4:42
  SPEAKER_00: Make sure you talk to your CPA before you list any property for sale to see what you're actually going to be paying out in that regard if you are going to be selling something.
• 4:51
  SPEAKER_00: Now, the sellers out there, I know that they've been strategizing their best pricing points when their properties go unshown for a couple weeks, let alone a month.
• 5:00
  SPEAKER_00: Maybe the beginning was a flurry of activity, but after they've been on the market a while, then that activity slows down quite a bit, and then they're wondering what the hell happened.
• 5:08
  SPEAKER_00: Why is my house not selling?
• 5:10
  SPEAKER_00: Why am I not getting any more showings?
• 5:12
  SPEAKER_00: Sometimes it just takes a little modification of the language that's in the description potentially on the online systems.
• 5:19
  SPEAKER_00: Any of those changes is going to change, give the listing a changed status.
• 5:24
  SPEAKER_00: And in some cases, depending on the algorithm that's being implemented by the search engine, whether it's Zillow or Trulia or those types of systems, it might rise back up to the top.
• 5:34
  SPEAKER_00: It might see that there's new information or a change of information, and it might bring it to the top, but there's nothing as strong and as for sure as a price change.
• 5:46
  SPEAKER_00: That would be a reduction.
• 5:47
  SPEAKER_00: How much a buck will get you there?
• 5:50
  SPEAKER_00: Um, it's interesting to see that the people that modify their prices, maybe they're overpriced.
• 5:56
  SPEAKER_00: Maybe that's something you need to reconsider where your pricing strategy happens to be.
• 6:00
  SPEAKER_00: Maybe since you listed it.
• 6:02
  SPEAKER_00: Over 30 days, the market's changed.
• 6:04
  SPEAKER_00: We saw a couple big leaps in listing inventory.
• 6:07
  SPEAKER_00: That could be an indication if you haven't been paying attention or being updated by your agent.
• 6:12
  SPEAKER_00: Maybe you need to revisit it with them and say, hey, listen, why is my property not being shown?
• 6:17
  SPEAKER_00: What can we do to better position it?
• 6:19
  SPEAKER_00: And these are good questions to ask your agent, and they should be answering those questions and telling you the things that might be able to be modified on their end to help get the property more attention.
• 6:30
  SPEAKER_00: But ultimately, a property doesn't sell because of price.
• 6:34
  SPEAKER_00: In its current condition, it's always about price.
• 6:36
  SPEAKER_00: Are there things you can do to your residents to make it more attractive?
• 6:40
  SPEAKER_00: That should have been a discussion that was handled up front by the agent, and you want the property that you're going to sell, unless you're built into some niche neighborhood in some area where people move there because of the top three reasons, whatever it may be in those areas, schools, paseos, and freeway access, potentially.
• 7:00
  SPEAKER_00: If there's something you could change on your residence, maybe that's a discussion you should revisit with your agent.
• 7:06
  SPEAKER_00: Maybe having all the rooms painted black inside isn't the best option for you.
• 7:11
  SPEAKER_00: Most properties that are sold, the ones that sell for the highest, are the ones that you can tell where the seller has paid attention to them.
• 7:19
  SPEAKER_00: One of the things that we talk to our clients about is having the property prepared in such a way, potentially staged, but even more than that, to get the functionality down on paper, which would be a pre-sale home inspection.
• 7:33
  SPEAKER_00: It's critical.
• 7:34
  SPEAKER_00: You have a home inspector, a real, real certified, bonded, and you know, educated home inspector come out to your property and go through all of the different systems, do all the levels, do all the measuring, and then they come back with a report that you can now provide your buyer.
• 7:51
  SPEAKER_00: Now, once you do this, that information becomes something that needs to be disclosed.
• 7:57
  SPEAKER_00: Some sellers are reluctant to do that because they don't want to discover problems with their property.
• 8:03
  SPEAKER_00: But folks, the buyer's going to discover it when they have their home inspection.
• 8:07
  SPEAKER_00: If that's part of their contract and they haven't waived that right, when they have their home inspection on the property, they're going to discover those issues also.
• 8:15
  SPEAKER_00: So then what's that next step?
• 8:17
  SPEAKER_00: Depending on the market, depending on the buyer, usually they're going to hit you up with a request for repairs.
• 8:22
  SPEAKER_00: Sure, you can say, I'm not going to repair anything.
• 8:25
  SPEAKER_00: I listed my property as is.
• 8:27
  SPEAKER_00: That's how real estate is.
• 8:29
  SPEAKER_00: It's all up to negotiation.
• 8:30
  SPEAKER_00: And absolutely you can stick on that point and not move forward and deny the buyer's request.
• 8:36
  SPEAKER_00: But then be prepared for that next step.
• 8:39
  SPEAKER_00: Let's say the buyer doesn't want to continue the escrow process because of your response, then they can move on.
• 8:46
  SPEAKER_00: And if it's prior to them removing that particular contingency, they more than likely will get their deposit back.
• 8:53
  SPEAKER_00: So there's no bonus.
• 8:55
  SPEAKER_00: Now your property goes back on the market.
• 8:57
  SPEAKER_00: So then do the math.
• 8:58
  SPEAKER_00: If it took you know 35 days to get that first offer from that first buyer and get into escrow, and you've spent, you know, 15, 17 days in escrow to get this request for repairs and then deny it, then that next step is if you go back on the market, depending on if the market's identical, it could take that 30, 35 days.
• 9:18
  SPEAKER_00: Maybe somebody's been waiting for that property to fall out of escrow so they can jump in on it.
• 9:22
  SPEAKER_00: Good for you if that's the case.
• 9:24
  SPEAKER_00: But you can't go with what you don't know.
• 9:27
  SPEAKER_00: You can only guess.
• 9:28
  SPEAKER_00: So if we're looking at the same market, having not changed, no additional inventory, maybe another 35 days it's going to be listed until it gets back into escrow.
• 9:37
  SPEAKER_00: If you're staying in there and you're living and paying, you know, paying your mortgage, maybe that's okay.
• 9:43
  SPEAKER_00: But if the property is vacant, maybe that's another concern.
• 9:46
  SPEAKER_00: What does that math look like?
• 9:48
  SPEAKER_00: And then after you, because the buyer wanted things repaired and you go back on the market, now that's part of your disclosure process too.
• 9:56
  SPEAKER_00: So now as a seller, you now have a home inspection.
• 9:59
  SPEAKER_00: Even if you refuse to do the pre-sale home inspection, which is totally up to you, the buyer does the home inspection.
• 10:05
  SPEAKER_00: Now that home inspection becomes part of that next escrow process, so that buyer's going to see it.
• 10:12
  SPEAKER_00: In some cases, when we see properties that fall out of escrow and we represent buyers, that's part of the question to the agent.
• 10:18
  SPEAKER_00: The property felled out, Mr.
• 10:20
  SPEAKER_00: Mrs.
• 10:20
  SPEAKER_00: Agent, do you have that inspection report?
• 10:23
  SPEAKER_00: What was wrong?
• 10:24
  SPEAKER_00: And then a lot of times we'll get privy to it even prior to contract.
• 10:28
  SPEAKER_00: But in some cases, agents aren't going to do that.
• 10:31
  SPEAKER_00: The sellers don't want to help anybody until they actually get a written contract on their property.
• 10:36
  SPEAKER_00: Then during that discovery time frame where you're able to get the information from the seller, then that report's going to become shared with that new buyer, and then the buyer's going to see the issues that exist.
• 10:49
  SPEAKER_00: Then, of course, they're going to hire their own home inspector, and then we're back to the same place.
• 10:53
  SPEAKER_00: If the seller remedied those issues after they kicked that buyer out of escrow, which really wouldn't make sense if they would have just taken care of it, the buyer might have stuck and then it would have continued to close.
• 11:04
  SPEAKER_00: But let's say maybe they had a coming to Jesus moment and said, you know what, I better, we better get this done.
• 11:10
  SPEAKER_00: It is our house, by the way, so we might as well take care of it.
• 11:12
  SPEAKER_00: And then that being the case, they put it all together, the buyer might find other things with their home inspector.
• 11:18
  SPEAKER_00: It's it's a version of already knowing what you have 100% versus what could possibly happen in the future.
• 11:24
  SPEAKER_00: But it could also play out the other way, where that next buyer is just very happy just to get the house because this is the one they've been looking for.
• 11:31
  SPEAKER_00: Again, you have to ask yourself those questions before you start making decisions and find out where those decisions are actually going to the potential outcomes of each.
• 11:40
  SPEAKER_00: That's why it's good to have somebody that's done this a couple of times on your side in the way of a real estate agent so you can figure out that process.
• 11:49
  SPEAKER_00: That's also why I'm very much an advocate for not being a dual agent.
• 11:55
  SPEAKER_00: I'm very much an advocate for you having your own agent in the process.
• 11:59
  SPEAKER_00: Of course, there's more money if you come to one of my listings and want to utilize me to purchase it.
• 12:04
  SPEAKER_00: But there's also a lot more danger there.
• 12:06
  SPEAKER_00: You don't have somebody on your side 100%.
• 12:09
  SPEAKER_00: You have me who's on the side of the seller.
• 12:12
  SPEAKER_00: And I know a lot of agents get twerked when I start talking about this.
• 12:15
  SPEAKER_00: Twerked?
• 12:16
  SPEAKER_00: Twerked?
• 12:17
  SPEAKER_00: Anyway, they get upset.
• 12:18
  SPEAKER_00: And that's okay.
• 12:19
  SPEAKER_00: I understand that.
• 12:20
  SPEAKER_00: There are a few states that outlaw the practice of being a dual agent.
• 12:23
  SPEAKER_00: I believe Canada is also a country that outlaws the practice.
• 12:27
  SPEAKER_00: Maybe in the future that won't be a thing.
• 12:29
  SPEAKER_00: Maybe an agent will have to be standalone representing the buyer having their own agent, and then one representing the seller, seller having their own agent.
• 12:36
  SPEAKER_00: It's a much cleaner process, especially if you're hiring somebody to sell your house.
• 12:41
  SPEAKER_00: Having an agent is going to represent the buyer.
• 12:43
  SPEAKER_00: So you tell your agent that you're hiring to represent you as the seller, that it's okay if they represent the buyer.
• 12:51
  SPEAKER_00: What happens when the buyer wants to write the offer for the amount that you and your agent talked about in confidence?
• 12:59
  SPEAKER_00: Your bottom line amount, the amount that you would take bottom line, even though it's not the same as the listing price.
• 13:04
  SPEAKER_00: What happens when that offer comes in by your agent at that number?
• 13:08
  SPEAKER_00: Well, you're you're probably going to think the agent sold you out.
• 13:11
  SPEAKER_00: Whether they did or did or not, they did or not, it doesn't matter.
• 13:15
  SPEAKER_00: But that little that little feeling you'll have, that's going to happen again when the buyer wants them to ask you to repair certain things that was found in the home inspection report.
• 13:26
  SPEAKER_00: And then it's also going to happen if they don't want anything repaired, maybe they just want credits and money.
• 13:31
  SPEAKER_00: Then that's going to be a problem.
• 13:32
  SPEAKER_00: So now the agent you hired, the one that you did the handshake with in the beginning and signed all the contracts with, now they're not on your side?
• 13:39
  SPEAKER_00: Well, no, now they have a fiduciary relationship with the buyer too.
• 13:43
  SPEAKER_00: So now they have to play bipolar agent, probably without the medicine.
• 13:49
  SPEAKER_00: Watch out for yourselves.
• 13:50
  SPEAKER_00: Think through the process.
• 13:52
  SPEAKER_00: There are agents out there that are fantastic at what they do.
• 13:56
  SPEAKER_00: And AI, yes, artificial intelligence, are they going to be able to sell houses?
• 14:00
  SPEAKER_00: When you're selling something with a million dollar price point or more, even less, something that takes 30 years to pay off.
• 14:07
  SPEAKER_00: AI might be able to take it a little bit, but it's really good to have more accountability than a human person when it comes to showing property, discussing, discussing, and also negotiating, and of course, finding out your best leverage points, whether you're a seller or a buyer.
• 14:24
  SPEAKER_00: I'm Connor with Honor.
• 14:25
  SPEAKER_00: If you want to jump on a Zoom call with me, I would love that.
• 14:28
  SPEAKER_00: We could talk about your real estate strategy, and I'll pick it apart, and you can pick my brain, and we will come together so you can develop the best ideas and the best decisions when it comes to whatever you want to do, whether it's selling something, buying something.
• 14:43
  SPEAKER_00: Zoom me scv.com, zoom me scv.com.
• 14:48
  SPEAKER_00: You can go there, book an appointment with me.
• 14:49
  SPEAKER_00: That'll jump you into my Santa Clarita Open Houses website.
• 14:53
  SPEAKER_00: Book a call, book an appointment.
• 14:54
  SPEAKER_00: We'll do a Zoom meeting and we will discuss the whole thing.
• 14:57
  SPEAKER_00: You can have whomever you want on the meeting.
• 14:59
  SPEAKER_00: You want to have mom and dad, you want to have friends, you want to have relatives, you know, you want to have your significant other kids, you know, dogs, whatever.
• 15:07
  SPEAKER_00: We can we can have that happen.
• 15:09
  SPEAKER_00: All right.
• 15:09
  SPEAKER_00: We'll talk to you in the next one.
• 15:10
  SPEAKER_00: Thank you for watching today's update.
• 15:12
  SPEAKER_00: We will see you tomorrow.
• 15:13
  SPEAKER_00: Be well and and be safe.
• 15:15
  SPEAKER_00: Take care.