Latest / Connor with Honor: AI, Real Estate and Real Life / Buyer Drive in Santa Clarita real estate by the only Sellers Only Agent™

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Buyer Drive in Santa Clarita real estate by the only Sellers Only Agent™ · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Thank God for the buyer drive.
• 0:02
  SPEAKER_00: Buyer drive in real estate is what we equate to there being buyers in the market looking to purchase residential real estate.
• 0:08
  SPEAKER_00: Why I know that sounds very obvious.
• 0:10
  SPEAKER_00: In some cases, some markets and in some price ranges have less buyers than other markets, other price ranges for other housing types.
• 0:18
  SPEAKER_00: Of course, that also is very obvious.
• 0:20
  SPEAKER_00: What you need to do is you need to look at the track record if you're considering putting any kind of piece of property on the real estate market for sale, because right now we have different dynamics in the economy that make buyers a little bit more skittish from purchasing real estate.
• 0:35
  SPEAKER_00: Now that doesn't mean they're not there and they're not ready to pounce, especially if your property gets put out there on the market for sale.
• 0:41
  SPEAKER_00: Your strategy needs to be more from hoping to actual value, data-driven value.
• 0:48
  SPEAKER_00: You would want to take your particular property when you're preparing it for sale, of course, dial it in as best you can.
• 0:55
  SPEAKER_00: More than likely, that's not gonna equate to you doing some kind of massive kitchen remodel or bathroom remodeling.
• 1:02
  SPEAKER_00: That's gonna depend on your competition at the present time.
• 1:04
  SPEAKER_00: What it is going to depend on is you doing the valuation of the property and basing it on today's particular value or maybe a little bit under.
• 1:12
  SPEAKER_00: The reason why the under thing comes into play, it's gonna also depend on competition.
• 1:16
  SPEAKER_00: Buyers are gonna do their due diligence.
• 1:18
  SPEAKER_00: The tighter money gets, the higher those interest rates are, the buyers are gonna be doing a lot more research.
• 1:25
  SPEAKER_00: Unfortunately, they're gonna be going to these syndication sites, they're gonna be looking at values that those sites have already engineered for your particular property.
• 1:33
  SPEAKER_00: The problem is the syndication system, some of them are built around a computer program or, like they say in the tech world, an algorithm that's going to not give true value.
• 1:43
  SPEAKER_00: It's going to skew it just a little bit.
• 1:45
  SPEAKER_00: It could depend on what the buyer's looking for.
• 1:47
  SPEAKER_00: Maybe the buyer has a higher approval rating for purchasing real estate.
• 1:52
  SPEAKER_00: So maybe the number goes a little bit higher.
• 1:54
  SPEAKER_00: Maybe they're trying to validate a particular source or trying to tell the seller their property is worth less than it really is to try to defeat them and get them to start doubting their agents.
• 2:04
  SPEAKER_00: There's a lot of ways that this can be manipulated and put together.
• 2:07
  SPEAKER_00: Unfortunately, us on the receiving end of it, we see it.
• 2:10
  SPEAKER_00: As sellers out there, the buyers out there in real estate.
• 2:13
  SPEAKER_00: It's a lot of nonsense.
• 2:14
  SPEAKER_00: The way to establish that true value is you need to compare your house with other houses that have sold within the last 180 days.
• 2:22
  SPEAKER_00: Closer to 90 would be good because that allows in other factors like the time it's going to take to get the property sold.
• 2:30
  SPEAKER_00: At least you get a good idea as to where your value might be.
• 2:33
  SPEAKER_00: Don't try to compare it with a house that's overbuilt for the neighborhood.
• 2:36
  SPEAKER_00: Compare it with a stuff just like yours, similar shape, within the same zip code, hopefully within about half a mile to a mile of your residence.
• 2:44
  SPEAKER_00: That way you're able to establish that value.
• 2:46
  SPEAKER_00: That's where you price it.
• 2:47
  SPEAKER_00: You price it accordingly.
• 2:48
  SPEAKER_00: The buyers out there are going to be doing the research, you should as well.
• 2:51
  SPEAKER_00: I'm Connor with honor.
• 2:52
  SPEAKER_00: We'll see you in the next one.