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Transcript

Who have you hired to be your Santa Clarita real estate agent and are they the same agent for the seller? · Connor with Honor: AI, Real Estate and Real Life

• 0:01
  SPEAKER_00: The excitement never ceases to amaze me, and I'll tell you why in just a moment.
• 0:05
  SPEAKER_00: I am Connor with Honor.
• 0:06
  SPEAKER_00: Thank you so much for tuning in.
• 0:07
  SPEAKER_00: This is your real estate podcast.
• 0:09
  SPEAKER_00: This is going to be about Santa Clarita, Seamy Valley, other Southern California cities in and around Los Angeles.
• 0:16
  SPEAKER_00: We are going to talk about the market, the happenings, and some changes that uh yours truly has undertaken lately, which are very, very exciting.
• 0:24
  SPEAKER_00: Uh, first and foremost, Realty One Group, there's a big shout out.
• 0:28
  SPEAKER_00: New Brokerage, fantastic.
• 0:30
  SPEAKER_00: Love the people, love the excitement and the location.
• 0:33
  SPEAKER_00: I'm actually above Pottery Barn at Valencia Town Center, across from Cheesecake Factory.
• 0:39
  SPEAKER_00: In the neighborhood, look me up.
• 0:40
  SPEAKER_00: I'm there most days, and it is fantastic.
• 0:43
  SPEAKER_00: So thanks, Patrick, for the uh being wonderful and Kat and Andrea and everybody else there.
• 0:49
  SPEAKER_00: It's very much a pleasure, and uh everybody's just fantastic.
• 0:54
  SPEAKER_00: Really, really happy.
• 0:55
  SPEAKER_00: This is going to be a fantastic move for not only my clients, but for myself.
• 1:02
  SPEAKER_00: In this market, currently, here we are, April 6, 2022.
• 1:07
  SPEAKER_00: It's about 12 54 p.m.
• 1:10
  SPEAKER_00: Typically, with this market, we do see an overabundance of buyers, and that's what we have.
• 1:18
  SPEAKER_00: We see less than that amount of sellers, which is quite a bit less.
• 1:23
  SPEAKER_00: In fact, our inventory is so low.
• 1:26
  SPEAKER_00: How low is it?
• 1:27
  SPEAKER_00: Well, I'll tell you.
• 1:28
  SPEAKER_00: Our inventory is so low, if we had no more homes, condos, townhomes coming on the market, we would be at zero listings at as fast as they are selling within the next couple weeks.
• 1:40
  SPEAKER_00: So that would be at nothing.
• 1:41
  SPEAKER_00: Everything would be tight up in escrow to close within, you know, the 30 to 45 to 60 days or whatever the arrangement is.
• 1:49
  SPEAKER_00: That would be finished, it'd be over.
• 1:51
  SPEAKER_00: One thing that I look at with my clients is because of that, we have to make sure that our offers are locked tight, completely perfect in every way, shape, or form.
• 2:01
  SPEAKER_00: There has to be no additional work assigned to that listing agent, that agent that's working for the seller, whom you want to have them continue to work for the seller.
• 2:11
  SPEAKER_00: You definitely want to have your own agent on your side in this in this real estate world, because you start tying up with a seller's agent, there's a lot that could potentially happen.
• 2:21
  SPEAKER_00: And that's known as dual agency.
• 2:23
  SPEAKER_00: And I'm just saying there are several states plus Canada that outlaw that practice.
• 2:29
  SPEAKER_00: They do require agents only take care of one side.
• 2:34
  SPEAKER_00: So whether either a seller's agent or a buyer's agent within that same transaction, they can't be both.
• 2:40
  SPEAKER_00: In Southern California, you can be both as a real estate agent.
• 2:44
  SPEAKER_00: I can have a listing, and I could also be representing the buyer on the same listing.
• 2:48
  SPEAKER_00: There's a lot that kind of falls apart there, you know, when it comes to negotiation.
• 2:53
  SPEAKER_00: It's kind of funny.
• 2:54
  SPEAKER_00: You know, the seller trusted you to list their residence, and they put all their eggs in your basket, and you have the contract.
• 3:01
  SPEAKER_00: Now you bring the buyer, and the seller is there.
• 3:04
  SPEAKER_00: Now the buyer wants to have things repaired or fixed, and you're going back to the seller.
• 3:09
  SPEAKER_00: It just kind of seems kind of counterintuitive or odd.
• 3:14
  SPEAKER_00: And definitely I know it's difficult for a lot of sellers to wrap their mind around because everybody deserves great representation, the best they can possibly find.
• 3:23
  SPEAKER_00: I think everybody agrees that, sellers and buyers alike.
• 3:26
  SPEAKER_00: I know that I do.
• 3:28
  SPEAKER_00: But when it comes back to the seller, what are they to think when now Connor is playing enforcer for a buyer on the seller's residence?
• 3:37
  SPEAKER_00: The residence, the seller hired me to sell and a fight with the other party.
• 3:42
  SPEAKER_00: And the buyer's going to be, well, I hired you because you work for the seller, and I knew that you could give me all the advantage and help me throughout the entire process and get me everything I want and for a price I want to pay, because you are the seller's agent.
• 3:57
  SPEAKER_00: You can go back to them and say what the buyer wants, or the buyer's going to walk.
• 4:00
  SPEAKER_00: It gets really difficult.
• 4:02
  SPEAKER_00: And a lot of people do get irritated at that process.
• 4:05
  SPEAKER_00: So hence representing both sides comes with a lot of explanation.
• 4:11
  SPEAKER_00: And if you don't do that, and if you don't prepare the seller and the buyer to know what to expect, if they choose to go this way, that's if I agree to go this way as well.
• 4:22
  SPEAKER_00: But if they choose to go this way, you need to explain to them how the entire process is potentially going to play out if there are no obstructions.
• 4:31
  SPEAKER_00: But if there are, what would those obstructions look like?
• 4:34
  SPEAKER_00: And the obstructions can come from either the seller or the buyer.
• 4:37
  SPEAKER_00: The seller can not want to negotiate one item at all.
• 4:43
  SPEAKER_00: And it could be that we put into contract that the house is sold as is, as is expected.
• 4:48
  SPEAKER_00: It's already written in, but we write it out again just so it can be read in a different area on the contract.
• 4:53
  SPEAKER_00: So it's sold as is, the seller will not credit nor pay for nor contribute to any of the buyer's requests for repairs or any of those other items with which would affect the seller's bottom line.
• 5:06
  SPEAKER_00: So that's also written out.
• 5:08
  SPEAKER_00: But then three weeks into it, right prior to the date that the buyer has to remove contingencies, they come back and they say, Hey, we saw the home inspection report, we sent you a copy, and on page three, paragraph four, it talks about the GFCI outlet is too close to the kitchen sink, it needs to be replaced, so we'd like a couple hundred dollar credit to get an electrician out there and have that have that repaired.
• 5:33
  SPEAKER_00: That's one thing, one of many possible things.
• 5:36
  SPEAKER_00: So now as the buyer's representative, I'll go back to the seller, and the seller's gonna say, Well, aren't we supposed to remove contingencies tomorrow?
• 5:45
  SPEAKER_00: And I'll say, Yes, that's correct.
• 5:47
  SPEAKER_00: In fact, I was gonna bring that up as I've been keeping you posted throughout the entire process.
• 5:51
  SPEAKER_00: We're gonna remove them after 17 days.
• 5:54
  SPEAKER_00: So they say, Well, instead of answering their question right now, why don't you go ahead and have them remove their contingencies and then we can give them an answer?
• 6:02
  SPEAKER_00: Do you see how complicated this can get super quick?
• 6:04
  SPEAKER_00: So now I go back to the buyer and say, okay, well, the seller would like you guys to remove your contingencies.
• 6:09
  SPEAKER_00: Well, Connor, whose side are you on?
• 6:13
  SPEAKER_00: Yes, exactly.
• 6:15
  SPEAKER_00: So that's a problem.
• 6:16
  SPEAKER_00: I like it to be the other way where I'm all by myself with my buyer, all by myself with my seller, representing either one, sole, independent, on a piece of property that has nothing to do with the other side.
• 6:32
  SPEAKER_00: And for the other agent, the one that's either hired by the seller or the buyer, to be on the complete other side of that equation, on the other side of the parenthesis, or on the other side of the plus side or the equal sign, whatever it is, just on the other side.
• 6:47
  SPEAKER_00: Because that allows me to deal with them as they need to be dealt with to best represent my home buyer.
• 6:54
  SPEAKER_00: Same thing with my seller.
• 6:56
  SPEAKER_00: There are certain things that sellers in this market potentially don't have to budge with regard to.
• 7:28
  SPEAKER_00: Same thing when I represent the seller.
• 7:30
  SPEAKER_00: There are certain things I will do, being in this business since 1998, that's going to best protect my seller above and beyond everything.
• 7:39
  SPEAKER_00: That's my job.
• 7:40
  SPEAKER_00: My job is to advise, my job is to inform, my job is to educate, and my job is to, of course, be honest.
• 7:49
  SPEAKER_00: This has been your real estate update.
• 7:51
  SPEAKER_00: It is Wednesday, April 6th.
• 7:52
  SPEAKER_00: Definitely still in a seller's market, of course, 2022.
• 7:56
  SPEAKER_00: We will be talking with you here in the next several days.
• 8:01
  SPEAKER_00: I will be uh recording a video and podcast from my new offices there at Realty One Group, uh, the branch's success.
• 8:09
  SPEAKER_00: And again, another shout out to everybody there.
• 8:11
  SPEAKER_00: Fantastic.
• 8:12
  SPEAKER_00: It has been wonderful for the past few days that I've been there, and I am incredibly blessed.
• 8:18
  SPEAKER_00: I hope everybody has a fantastic rest of your week.
• 8:20
  SPEAKER_00: We are at Hump Day Wednesday, and we will talk to you very soon.
• 8:23
  SPEAKER_00: I am Connor with Honor.
• 8:25
  SPEAKER_00: If you haven't checked out everything, please look me up on Facebook.
• 8:27
  SPEAKER_00: I'd love to be your pal.
• 8:28
  SPEAKER_00: You can also check me out on YouTube, Connor McIver.
• 8:31
  SPEAKER_00: You'll be able to find several channels.
• 8:33
  SPEAKER_00: But the one you want is the one that's going to have all the videos on it, I guess.
• 8:37
  SPEAKER_00: I don't know, 3,000 or so.
• 8:38
  SPEAKER_00: And that's going to be placed there, of course.
• 8:40
  SPEAKER_00: Run me up on Stitcher, uh Radio FM, all of those, Amazon Radio.
• 8:45
  SPEAKER_00: I've been syndicated, and I am large and in charge, and I'm here to help.
• 8:49
  SPEAKER_00: Whenever you're ready, please let me know.
• 8:51
  SPEAKER_00: I am Connor with honor.
• 8:52
  SPEAKER_00: Thank you so much for listening to this week's update, and I hope to help you soon.
• 8:56
  SPEAKER_00: Whenever you're ready, reach out.
• 8:58
  SPEAKER_00: I will be there for you as I've been for so many others.
• 9:01
  SPEAKER_00: Connor McIver, over and out.