Latest / The Spiro Podcast: Managing your Real Estate Photography & Videography Business / Shannon Landers - 1st Quarter Recap & 2nd Quarter Forecast

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Shannon Landers - 1st Quarter Recap & 2nd Quarter Forecast · The Spiro Podcast: Managing your Real Estate Photography & Videography Business

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Coming up on this episode of The Spiro podcast.
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it's really a tale of inventory.
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It really is, watching inventory, paying attention.
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The inventory.
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The inventory tells a lot of stories.
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Are you and the buyers, the sellers, kind of a balanced market.
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Hi and welcome to the Spiro Podcast, managing your real estate,
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photography and videography business.
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Spiro is a software platform.
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It's designed to help you manage your day to day real estate media business
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and really help it grow in scale as well.
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Welcome to another episode.
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I'm Craig Magrum, host of the podcast. Always glad to have you along.
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If you're new to the podcast, this is all about the business of real estate media.
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Lots of great resources out there on the creative side of what we do.
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You know, gear, recommendations, how to compose shots, all that good stuff.
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But we want to help you build a solid business as well.
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So welcome to it.
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Well, hopefully you all had a great Easter and Resurrection Sunday.
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We record this on the Friday before.
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And so, we're just praying that you had a blessed time with you and your family.
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All right.
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Let me introduce our co-host and Spiro, founder and owner, Todd Kivimaki
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Welcome back, Todd.
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Craig, it's fabulous to be here another Friday.
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I say this every week. They're flying by.
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All good things. We've.
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I love this episode of the segment that we're doing,
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because I think it's always good to see what happened and analyze in our business.
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And Shannon has such great insight to the real estate industry.
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And then we're going to look ahead a little bit.
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So this is where you take off
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your photographer cap and you put on your business owner cap.
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We're give you some insight, some things you should be thinking about.
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So I this is right up my alley.
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Yeah. Excellent.
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Yeah. Shannon Landers, our guest this week.
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And, yeah, she'll be giving us a recap of the first quarter and
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looking a little bit into second quarter, what to expect as well.
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But before we dive into that, Todd. Spiro updates.
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Man, things just keep rolling along.
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Yes, we pushed another update this last week.
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And in that this was more I call it a quality of life update.
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So all the little things
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you know that have been asked for and they're definitely valid.
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You know, there's two different types of updates we can do.
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We can either make the current features
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a little bit more customized to what you all want.
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Buttons. This does this that does that.
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Can this not open in a new tab.
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We can do all those things and we're happy to
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it just doesn't give you or your clients new things.
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So we always try to manage between optimizing and giving you new.
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So this last cycle we're calling it cycle ten
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did a lot of that optimization for you.
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So I'm not going to go over it here.
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But a lot of little things you've been asking for they are in there.
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You know I'll give you a quick example.
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Many of you said, hey can I call the images on the download page?
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Can I call the two sizes something different?
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Being a low res in a high res, we used to call it
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web res and high res.
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But some of you say, hey, I want to call that MLS and that's a fabulous thing.
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We'll make that change out.
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Wow, our real estate media company because agents
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go on and in the US they know what the MLS is.
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And maybe globally you want to call those things something different.
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So that's all in there.
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You can not display an unbranded link to the property website.
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So a lot of our global users, they say hey we don't care about unbranded.
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Our clients don't even know what that means.
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Can we just remove it? Yes, you can hide that now.
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So there's a list of probably 15 things like that that went in.
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And we're excited to put those out there a quick 20 second on cycle 11.
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That's when you're going to get the new goodies okay.
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So we're going to wrap the box up.
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You get to open it up.
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You know take off the bow and pull out the inside.
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That is going to be a brand new marketing content interface
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and functionality that's going to include reels as well.
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That's going to include, analytics, a beautiful analytics page
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that you can put your homeowners, the agents could put the homeowners
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on subscription to show them how the media is doing.
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That's going to be, a new property website, many things like that.
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So you're going to get a lot of new stuff in cycle 11.
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That's going to be towards the end of May is when you're going to see that.
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Excellent.
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Lots of fun, exciting things coming.
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Yeah. Oh, I forgot one more Craig really quickly here.
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Just an update on on a big change we made at Wow Video Tours,
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our real estate media company.
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We have officially switched
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every job over to autoHDR, so we made the switch.
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We had been doing a lot of jobs and we love the look of what it's doing.
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And we've officially switched everything over.
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And the way that looks, if you say, hey Todd, how is that streamlined?
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Well, what auto HDR is, it's a AI editing for your photos.
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It's, 30 minute turnaround from autoHDR.
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And we did a segment last week.
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Was it with Matt owner of autoHDR.
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So if you want to know more about it, go back and listen to that.
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It's great to get to know him.
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Long story short, basically what our workflow looks
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like is our photographers get home.
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They drag the unedited into a folder on Dropbox that Spiro automatically creates.
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Spiro does checking a checking algorithm to see when the uploads complete.
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When that uploads complete from the photographer Spiro
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automatically sends the images to autoHDR.
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AutoHDR takes them, processes them.
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When it is done with those images, it sends them back to the Dropbox folder
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on your Dropbox account.
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Spiro pulls those images in and they're sitting in the gallery.
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So the cool thing is, is like when I log on to Wow and I
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look at it like six, seven, 8:00 at night,
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we have final image just sitting there that was done that day.
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So that is really neat.
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It's not a perfect system. Nothing ever is.
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We made a ton of changes with our human editors, but it was time to do this.
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The overall quality is fabulous, and there's a few adjustments
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that our QC team catches, and they always have caught a lot of a few
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or a lot of adjustments pending the way the editor felt that day
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or the way they editor the toughness of the image.
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So we've made the change.
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We ripped off the Band-Aid. It's a fabulous thing.
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We discovered some things.
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We made some efficiencies, things autoHDR.
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Matt has made some updates and he and we will continue to do so.
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So I just want to let you all know, because a lot of you ask like,
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hey, what is Wow do what is Wow do what is Wow?
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I'll do one to let you know
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if you want to find out more, if you want to try it out.
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Autohdr.com/spiro.
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We'll put the link below that will get you 30 free credits and a full disclaimer.
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I do get a little kickback if you click the link.
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If you don't like me, don't click the link.
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Just go straight to autoHDR.
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Thank you for the disclaimer there.
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Hey, I want I want a beach.
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I got to lay down at night and go to bed. Okay.
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Yeah, no, it's
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that's good.
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That's good.
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All right. Thanks for those updates, Todd.
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All right.
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Well, we're not going to waste any time here because lots of things
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happening here.
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In 2025, in the, the realm of real estate photography and videography,
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in real estate in general, and our, our resident
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expert on, on the market, Shannon Landers.
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Hey, welcome to the podcast, Shannon.
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Shannon
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thanks, guys.
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Always fun to be here with you boys, especially on a day
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like today is Good Friday and the upcoming fun, holiday of Easter.
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So, yeah, which is actually in the past, by the time people are watching this.
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But it sure is. Yeah.
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So we hope you have a great Easter. Yeah,
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yeah.
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For for those of you that have not met Shannon, I think many of you met Shannon.
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If you haven't, please meet her.
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She is fabulous.
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She is our VP of product at Spiro.
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She is helping with everything and with growth.
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Wanted to take you back a lot of years with Wow.
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I hired Shannon as a consultant.
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I work with Shannon.
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She was the director of recruiting at our largest client,
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and she was a rockstar, like, recruited 100 agents a year.
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And if you don't know anything about recruiting
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agents like that is an insane, like that's an insane amount.
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There's probably a few you could probably count on your fingers
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and toes of the people in the world that do that a year and long story short,
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we had worked together for many years there, did some projects together,
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and I was growing Wow.
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And Shannon, I had lunch.
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I'm like, Shannon, I need your help to build a sales team.
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I want to grow this company.
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And she's like, this is a cool idea.
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I could help you do this.
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And so she came on as a consultant.
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We built a program, and when she was done, she said, hey, you really need me
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to make this this, like, I can blow this, like, you can do this,
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but you really need me because I can blow this thing up.
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I said from tell me what you want. Let's do it.
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We figured that out.
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The rest is history.
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She helped us grow and scale Wow.
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We still use many things a day
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that she built for us at Wow, and she gave us a great foundation there.
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So then she went and she blew up a real estate
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media company, or a real estate or a real estate company.
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So it was a Keller Williams and helped that grow.
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And then we had lunch again like, hey, what's up?
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What are you doing?
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How are the kids?
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And then it's like, okay, why are we sitting in this room?
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Like, hey, what?
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Let's go build something.
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I'm like, I got this thing that's kind of cool.
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Do you want to come on? She's like, yeah, like, okay, what?
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What do you want to do?
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She's like, this is what it needs to be like, let's do it.
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And here she is.
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Yeah. No, that was a run on sentence.
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I'm sorry, but what else?
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It truly has been an adventure.
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You know, and it's a point and it's a testament
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to what we talk about all the time of building relationships.
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You know, we've built a relationship.
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I got to meet you and Nick very early on.
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So I've known both of you,
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you know, now since 2013.
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Right. Is that right? Yeah.
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So, you know, and we had that relationship and, you know,
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that's they always come back, you know, it's I even think of Matt
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with autoHDR like that was a relationship that, you know, why do we go to Vegas?
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Well, we go to Vegas, you know, obviously talk to other photographers,
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but we also build relationships that change our futures to there.
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So, you just never know.
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So that's just a thing in sales.
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You just never know what's going to come.
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So, be open to what could happen. So,
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but the market, oh my gosh,
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the market is probably driving a few people crazy.
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And, and and I'm probably all markets at this point.
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I not just the real estate market that, you know, I will make this disclaimer
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that everything I say is nothing I'm going to say is political.
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Okay, I'm going to put that out there right now.
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There are things happening that can affect the real estate market.
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We will talk about them in a general sense, not in a I lean.
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This way or I lean that way sense.
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So just everybody want that kind of disclaimer
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out there that there, there just are economic things happening
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that, could change what we look like in real estate this year.
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So, or it may not.
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So it's, that's some of the fun stuff that we'll talk about,
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but it's definitely been an interesting Q1, sales numbers, not quite where
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we thought they would be, but nobody's kind of
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really super concerned.
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Something to think about.
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These numbers lag a lot.
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So as an example, if you go to NAR, which by all,
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all means all of you can go NAR.realtor
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and you can get a lot of these statistics that I have, for free.
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They're, they're, they're I'm a member so I can get more right as a realtor.
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But they they're all a lot of these stats are there.
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And so we don't have March’s complete stats out yet don't they.
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Of course they'll come on like the 25th I think of April is when we get those out.
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But just looking at January and February, you know, sales are down
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And Shannon, we're talking about I should have set this up
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a little bit better.
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My apologies.
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We're talking about the we're looking at the real estate industry. Yes.
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So of course because it correlates to real estate media.
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But yeah.
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Yeah absolutely.
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And we're going to talk about that.
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Everything I talk about today, I'm going to point it to an a direction
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as a media company. What that means, right.
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Or what you should do or what you might, you know, want to be thinking about.
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Okay.
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So, you know, we had in February, we had 4.26 million,
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sales.
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They seasonally adjusted that rate.
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Just that's a little caveat they do there
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because obviously we know in real estate it's very seasonal
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and January's lower right summer months are higher and so forth.
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But year over year that puts us down 1.2%.
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And the unit number of it. Right.
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We're talking
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you know, or sorry, dollar volume is what we're talking about right now.
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So 4.26 million and dollars volume.
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And that's down.
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But not by much.
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Now if you want to look at unit units are down.
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Like if I just take Dayton, Ohio,
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we were down 16% and, you know, in units.
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Okay. In unit.
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So that unit would be one side of the real estate transaction.
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So we have to remember in real estate the transaction has two sides.
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It has the homeowner that's selling and the buyer that's buying the home okay.
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So you have the sellers in the buyers.
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And so each transaction technically has two sides.
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So when we talk about units we're talking about one of those sides.
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And then they all okay up to all the units.
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Interesting. Yes.
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So and then the dollar volume is the actual
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final sales price of that home all added up.
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Okay.
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What about dollar volume.
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That is that's the two different.
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And it's important to look at both volume and units.
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Especially as a real estate agent because we actually get paid on volume.
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We get paid per unit but we get paid on volume.
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Yeah, that's a little bit different for photographers, right.
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As to where photographers that the units
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are probably more important to us because that's potential.
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Although your average order value is going to be higher typically with a higher.
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So they both go together.
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They kind of go they they do and well.
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And what's interesting,
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if you really think about it for the volume in real estate,
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in this half, in many years our units were a little bit down,
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but our volume was so much higher because the prices of houses.
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So 2022 is like a fun year to look at,
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21 and 22 for this reason, because units were technically down.
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What if the
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final 22, they were high, but units would be down,
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but the volume was up, so the agents were still making more money.
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Right?
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That's kind of the correlation, I understand.
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Like I could go do ten less units
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if I double my average sale price that I'm selling,
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and I'm going to double my money and do less work.
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Right.
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That's why do agents want the luxury market.
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That reason and it's right they can do less listings,
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make more money, have more time, be happier
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so that that's how that all relate in in the luxury listings.
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Right.
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As a media company, that's where you want to get into
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because that's where they will spend the money.
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They know the value of the media that they get there,
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because they need the content to push out for their luxury
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listings, to get more luxury listings.
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Right. Those are the agents who really do well at luxury.
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Let's really figure it out that that's the sweet spot.
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All things have been better there, and they will, have a nice marketing budget.
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So the really interesting thing, though, about this whole market right now
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is inventory is still a problem.
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So inventory has been rising.
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You know, inventory is the amount of houses we have to sell, right.
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The available active units,
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that we have to sell in February
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we ended and this is nationally in the U.S.
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I do have some Canadian numbers.
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I'm going to chat about to you guys.
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So but right now we of course we are talking mainly us,
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but there was three months of inventory in February
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and right now we're hovering about three and a half months of inventory.
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So what we're seeing is we're seeing new listings come on the market.
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Now, remember I say this with a huge caveat
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that real estate is local, local, local, local, local.
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So some of you might be like, Shannon, I don't know what you're talking about
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because that is not what's happening in my market.
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And that is very true.
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It might not be happening in your market, okay.
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Because you've got to look at your local stats.
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Remember, look up your local board of realtors.
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They have housing. That's what they put out as well.
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And you
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can get those at your fingertips that kind of understand or like
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I always say, take your favorite agent out to coffee
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and ask them what's happening in the market and understand it
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from that perspective, or a broker you're trying to sign or something like that.
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So three and a half months inventory.
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What does that mean?
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Yes. This is something you taught me.
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Yes. What does it mean.
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Are we in a buyer's market or a seller's market.
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So I this is sellers.
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I’d say sellers
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This is a sellers seller's market.
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It's still and that's what we're seeing the median okay.
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So think about this year.
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Every year we're down 1.2% in sales volume okay.
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Now in units we're down more okay.
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They don't put out the unit number.
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So I can't get it nationally.
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And I don't want to speak to that.
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But if I think of Dayton being down 15%
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and we're the Midwest and we're in a good market still, I,
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you know, we're probably 10 to 16%
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roughly across the U.S down in units.
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Okay.
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But volume is only down 1%
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because the median sales price is up 3.8%.
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We're still prices are still there.
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Now some market prices have corrected for sure.
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We're seeing a trend in Florida actually,
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on the coastline with condos and price reductions.
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Yeah, quite a bit of price reductions there.
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So if you're looking to buy a condo in Florida as a vacation spot,
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now's the time.
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Okay.
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We were we were both just there separate times.
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But there are signs everywhere we went, the different locations are everywhere.
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And then.
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And some of that is, like you mentioned, local because of the hurricanes.
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So you have
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you can only weather so many hurricanes as an owner of a property in Florida.
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Before you say,
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okay, I'm out, like I'm not going to rebuild this time or
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I'm not going to go through another one.
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So that's a little bit, you know, a couple things stack there,
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especially because if you look at the map, it's definitely the west side, right?
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It's the Gulf side that is really, really red on price reduction.
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But there's and there's still coming on the market.
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So it's year.
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So that's when you start to see as that inventory increases
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prices are going to decrease because the demand is not there.
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Right.
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Real estate the simple supply demand equation.
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There's nothing difficult about the equation.
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So again different markets you know
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Florida and Texas I would say are definitely seeing different things.
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Now if you think about Florida and Texas for the last 3 to 4 years,
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what's been happening?
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Tons of people
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have been moving to Texas and Florida.
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Tons. Okay.
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They have seen the most migration to their states than any other state.
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Okay.
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So you had that influx of the people that's kind of slowed down.
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All the markets are going to change for those reasons.
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So again, just kind of understanding what's happening is, is the key to know.
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And again why does this matter.
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Well how does a media company make money
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from listings.
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Right.
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Listings is the bread and butter of what we do okay.
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Now obviously we can do a ton more.
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There's a lot of other things, but that is definitely the bread and butter.
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So as we're seeing listings are coming on the market.
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So inventory again is rising nationally at three and a half months.
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But we were down to two months of inventory at one time.
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Which was really
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unhealthy very unhealthy in so many ways for the market.
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So it is inventory is rising,
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but it's not rising as fast
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as it needs to be for us to all of a sudden
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being a buyer's market and, nationally.
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okay. Yeah.
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Shannon, can I ask a quick sorry to interrupt.
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Then I think our listeners will will love to have this because I know
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it's it's a nice thing to pull out of your pocket
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in a conversation with a broker or a realtor and say, hey,
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I heard inventory is at about three and a half months
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and the first quarter, has that changed since?
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And they're going to look at you like, how do you even know what this means?
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And just so you understand what it means, Shannon, can you explain how the months
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like what, three and a half months, three months, whatever it is,
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what is added up to assume that is and then just let everybody know what a
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what a neutral market is, how many months that is. Yes.
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So and first off, the the calculation of inventory, how they calculate it is
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there's absorption rates and all these other things and I, I can't get
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I won't dive into it because honestly, it's quite boring.
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And the system just calculates it for you.
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So it's like you don't need to, like, worry about it.
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All of us can log in and and we get the data.
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But essentially what that saying is with all the houses on the market
22:38
that we currently have,
22:39
if we sold every one of them, it would take three and a half months
22:42
to sell that inventory.
22:44
That's kind of essentially what it means.
22:46
And on a grand scale of 0
22:49
to 12 months of inventory is kind of the parameters we look at 0
22:54
to 6 months is considered a seller's market, right?
22:59
All the way up to six months, all the way to and you could say
23:03
experts will say five to 5 to 7 months is balance.
23:07
So kind of say that right.
23:08
You get as you get like right.
23:11
Imagine you have zero and you have 12.
23:12
And as you get to the middle,
23:15
then that 5
23:16
to 7 tends to be a bit more balanced, of a market.
23:20
So that means there's kind of
23:21
no competitive edge either one way or the other.
23:24
Okay.
23:25
And then above six is considered a buyer's market okay.
23:30
So again understanding your local inventory number, asking them right.
23:34
Hey, nationally I heard inventory is three and a half months.
23:37
What what is the inventory look like here locally.
23:40
You know what. What are you guys seeing.
23:43
That's a great question to ask that very day.
23:45
One question they might how do you know with that?
23:50
Let's say, you know, in many of our media people are realtors.
23:55
So I know you guys have access to this information
23:57
and you understand kind of what we're talking about.
24:01
Because this
24:02
again, these numbers are going to drive what the opportunity is, right?
24:06
It always drives what the opportunity is.
24:08
But I will say there's many very smart people
24:12
much smarter than me that are very perplexed with our market.
24:17
The, the, the rising inventory, the still rising prices,
24:21
you know, but sales, that means that, like, there's just
24:24
all these things happening, that are really interesting.
24:28
But at the end of the day,
24:30
what it comes down to is we're seeing days on market increase.
24:34
We've been seeing this for a while, but the sales still happen.
24:38
Price drops are now normalized.
24:41
Again, I would call it we're seeing 25 to 30% of listings will have price drops.
24:45
That's a that's a good thing. Nothing wrong.
24:48
Yeah.
24:50
But I think what we've determined here
24:53
is people have finally gotten
24:56
over the interest rates.
24:59
They they have to say that it's been over a year and a half.
25:03
They're finally saying, okay, right.
25:07
So so a really good kind
25:10
of, thought is just to say, you know, think of the direction
25:15
of the interest rates, not necessarily the number.
25:19
So if interest rates are rising, demand will fall back.
25:23
Right? People will kind of pause.
25:26
But if they start lowering, then people make moves,
25:30
they make decisions, they get in the market.
25:33
So it is it really determines the motivation of the buyers
25:37
of just the direction the up arrow or the down
25:41
arrow is going to talk about, you know, the motivation of the buyers.
25:46
So that's kind of interesting to think about.
25:48
So as we do have some interest rates dropping,
25:51
in hopes that maybe we will drop more
25:54
that will bring some of that demand back in the market.
25:58
But this demand has been through the last three years.
26:01
This demand has been looking for homes the last three years.
26:05
So what they have determined is that they don't have to make a quick decision.
26:10
They don't because there is some inventory coming on the market
26:13
might not be as fast or as healthy as what we want to see, but it is happening.
26:18
So at the end of the day, what that means is as that motivation
26:23
stays, agents will still be able to get people to list their house,
26:27
and that means listings will bring us dollars, right?
26:30
Nice.
26:31
That at the end of the day,
26:34
we do have, you know, some unpredictable things happening just in general.
26:39
Here's that disclaimer part.
26:43
There's,
26:45
3 to 4 things that really kind of matter in real estate.
26:48
And if we just break it down, the price of real estate,
26:53
the cost of money
26:55
and employment, those are the three things
26:58
that really drives the industry in the market.
27:03
And right now we have just some general economic
27:08
risk with the, unpredictable policy of the trade policy right now.
27:14
If just that's obviously causing havoc in the regular market.
27:17
So that feeds into the interest rates,
27:20
natural disasters.
27:24
I don't know about you guys, but my insurance is up, like,
27:27
I don't know, 60% for my homeowner's insurance.
27:32
So that's something to think about there.
27:35
And then international conflict, right?
27:38
We where you have uncertainty wrapped around you know,
27:42
the Middle East and Ukraine and those areas.
27:45
So there's going to be some things that kind of help underbelly.
27:49
Right?
27:49
The underbelly of the market is, is going to kind of see those things.
27:53
But people behave off that direction of the interest.
27:57
So and overall, if you
28:01
kind of talk about just sentiment, right.
28:08
Realtor sentiment, buyer
28:09
sentiment, like it's not low, Realtors feel good.
28:13
They're able to go out and get listings right now.
28:17
There's always the agents that don't work as hard
28:19
as they should to stay busy so that that's on them.
28:23
But if those agents are really in the market,
28:27
they're really
28:29
moving forward and getting listings and getting business.
28:32
So, kind of to talk about mortgage rates,
28:35
this is just another interesting factor as well.
28:39
74% of mortgages have rates of 5% or less.
28:46
So and this breaks down even more,
28:50
22% or 3% or less,
28:54
34% live in the 3 to 4 range.
28:59
And then 4 to 5 is 18%,
29:03
5 to 6 is 10%
29:05
and 6% or higher is 16%.
29:10
Interesting.
29:10
So like 50% of mortgages are four or under those bottom two.
29:15
Yeah.
29:16
So if you think about that,
29:17
if you're sitting I'm sitting out, I think it has a 22.
29:20
something. 2.8.
29:22
Yeah. You know I'm not selling I don't care.
29:25
I'll add on to this sucker before I sell it because it's going to
29:29
I'm going to buy half the house for the same mortgage.
29:31
Yes, yes.
29:32
So that those are some things now, 40%
29:37
of our homeowners own their home outright.
29:41
Oh, interesting.
29:43
Okay. Interesting, right.
29:46
So we and the baby boomers
29:49
are that big generation that have these houses.
29:53
So if I'm an agent, I'm going to go hang out with all the old people for sure.
29:59
Right. Like that's what I'm doing. Yeah.
30:02
Because they've got houses.
30:04
And honestly, we need their inventory.
30:06
We need that,
30:09
so and builder so builders is another piece of this and I Craig,
30:12
I know you look like
30:13
you're going to ask the question, so let me just kind of builders
30:18
their costs are kind of complex right now.
30:21
Right.
30:21
That is something with the tariffs and that kind of stuff.
30:25
So they're not like eager because they've already been having
30:29
just compression on the dollars.
30:31
They profit compression anyway that's been happening.
30:35
Some of them hoarded material so that they were kind of smart,
30:38
but also caused the problem when they hoarded the materials.
30:41
If you're building, but you're asking
30:45
a lot of builders to keep moving and keep making money.
30:49
They're offering buy down rates so you could and and that new home
30:55
market really affects the existing home market, right when you think about it.
31:01
Because at the new home market, if they're getting three, 4
31:04
or 5% rates because they're getting by down,
31:07
somebody is going to look at that new build over that existing home,
31:11
right.
31:12
And the prices and the new builds really helps
31:15
that the prices per square foot for the existing home sales.
31:20
Interesting.
31:21
Because you're not if they're discounting.
31:24
Yeah, it discounts the price per square foot of existing or.
31:27
Yeah. You know your other market. Yep.
31:30
So a nice niche in
31:32
this business is you get really close to some of these builders and
31:36
and do their marketing, do their content, make agreements with them.
31:41
Right.
31:41
Because they, they want to make sure
31:43
they're marketing these houses and getting them sold.
31:45
And they want to really be in and hit that
31:49
new or the existing market and, and kind of crush it per se.
31:54
From their perspective, I get it.
31:55
I don't blame them.
31:57
So if you're looking at two houses, one brand new
32:01
and it's $270 a square foot, call it,
32:05
I know in
32:06
some markets that's like insanely low.
32:10
And you have an existing home that's 250
32:12
and it's 25 years old
32:16
where everybody goes, hey, what's the roof like?
32:18
What's the furnace like? What is the foundation?
32:20
I'm going to have to update this, like, oh, I'm going to pay more.
32:23
Even though the price tags less for the existing home, I'm going to pay more.
32:27
And honestly, let's be honest,
32:28
when you walk into that new home, it's like, oh, it's brand new.
32:33
Yeah.
32:33
I don't know what they put in there, but it's probably legal, doesn't it?
32:37
I know it's that price point, it's that fresh.
32:40
But it's all that fresh flooring, the carpet.
32:43
You know, let's remember that when you buy a brand new home, it still has problems.
32:47
So yeah, that's a good point. Good joke.
32:50
We know we say like every home's going to have problems.
32:53
But yes, you know, people do, especially first time home buyers.
32:58
Right. They want turnkey staff.
33:00
They you know a lot of them don't, you know they want to get the most for
33:04
their money.
33:06
So they definitely want to, you know, do that.
33:08
And so they, they like those new homes, but new home
33:12
prices have been kind of out of reach for them.
33:16
So kind of interesting fact too, that in 2024,
33:21
first time home buyers fell
33:24
to only 24% of our sales.
33:27
Typically, it's 35 to 40% of our sales is here.
33:31
Oh, interesting that that's a huge drop.
33:34
to mortgage rates.
33:38
Oh yeah. Mortgage rates went up.
33:39
They come by as much.
33:40
They're like hey I'm going to rent for another year.
33:43
Yeah yeah it makes sense.
33:45
It makes sense.
33:47
It's still we're still averaging about ten weeks on a home search.
33:52
So I've got some other interesting stuff
33:54
we can get into week that's we can kind of wrap up Craig, I think.
33:57
Did you have a question? I'm so sorry. I, like, cut you off. Yeah. No. That's okay.
34:00
I was just trying to think about
34:01
how to couch it in terms of what we do is, is real estate media companies.
34:05
But that boomer question of the boomers
34:08
sitting on owned houses, they don't have the mortgage.
34:12
How how do you get any sort of activity
34:15
in that segment when they don't have a motivation to sell?
34:19
It's like, yeah, I don't have a mortgage. Why would I sell?
34:22
Do we just wait that out?
34:24
Yeah, I, I think naturally that starts to happen
34:27
because they can't what depends on what kind of house they're in.
34:31
Right.
34:31
If they've got a three story house and they can't walk anymore upstairs.
34:36
Right. So many.
34:37
What happens with those is they they downsize or they go
34:41
into other family's homes or nursing homes or what.
34:45
Yeah. It's kind of that natural transition.
34:48
So it is,
34:49
you know, being there as an agent, kind of being there and just being in the know.
34:54
We have many agents that work with nursing homes and different things like that.
34:58
They engage with them.
34:59
So they kind of get introduced
35:01
to people that that, you know, that hopefully they can help sell that home.
35:06
There's a lot of
35:07
transition agents where they really focus on helping older people
35:10
transition out of their home into wherever they're going,
35:13
and getting them the best, the most for their house.
35:17
Before they move on.
35:20
So that'll kind of naturally happen.
35:22
Craig.
35:25
We in the US, take care
35:28
of our elderly completely different than anywhere in the world.
35:31
So it's kind of just a interesting note.
35:34
But I think as they age up, you know, as the baby boomers really
35:38
age up, we're going to start to see movement and not market.
35:42
But what's nice with them having their home
35:45
completely owned, if they want to get in that ranch or that,
35:48
you know, smaller house, they have the ability to do so.
35:54
Very easily because they're going to be able to sell and buy
35:59
and hopefully be clean
36:00
and not have anything out of pocket, you know, when they when they sell. So,
36:05
although it does depend on how they've kept their house
36:07
up to Todd's point, you know, how's the roof, how's the Hvac?
36:10
How's all this?
36:11
Now, remember, when you buy a house, not everything has to be new.
36:14
We fight this out there big time.
36:17
It just has to be habitable.
36:19
Habitable is the key word.
36:21
Functioning, working.
36:23
When I bought my house, my Hvac system
36:26
was the original from 1971.
36:29
Hvac system.
36:30
And it will outlive you too.
36:33
It. I kept trying to break in and it would not break.
36:35
Man, that thing was a horse,
36:37
but it wouldn't push enough sears out so it kept burning through AC units.
36:41
I was like, I can't do this.
36:44
But man.
36:44
And it worked great.
36:45
But it was like 60% efficient.
36:50
But yeah, that
36:51
thing, we had to kill it before it died.
36:54
So anyway, fun to think about.
36:56
Just to give everybody a quick idea, just the average age of a baby boomer.
37:00
I just googled it. It's 69 to 70 years old.
37:03
So this is my parents.
37:05
My parents are both those ages.
37:07
And so this is this is the age of a baby boomer.
37:10
If you think about, like, my mother right now, she,
37:14
my father fell about a year ago.
37:16
He's been in a nursing home since then.
37:18
Trying to recondition back my mom's at home.
37:21
House is too big, Yard's too big.
37:23
She just remodeled some of it because she wanted it fresh.
37:26
It's like, okay.
37:27
And I'm like, mom, do you want to go to a smaller house?
37:30
Like, oh, we're good here. I'm going to just make it how I want it.
37:33
So you know that that is, I think all of us on there, on this conversation,
37:37
this our parents.
37:38
It's probably not for some of you, but that's 69 to 70 years old
37:42
is the average age of that baby boomer generation.
37:45
Yeah. Yeah.
37:47
And and that kind of goes with sorry.
37:49
One more that goes with realtors too.
37:51
The real estate market. I mean, the real the real estate market.
37:54
As realtors, the young realtors are waiting for the baby boomers to retire.
37:59
Shannon just gave me a name.
38:00
And we won't say it here,
38:01
but I used to shoot for her, so that was a long time ago.
38:05
Y'all like that? And I was like, I think she's going to retire soon.
38:08
When I started shooting for her almost 20 years ago, 17 years ago,
38:11
she finally just retired and she was a machine.
38:14
And she was amazing person.
38:16
Yeah, yeah.
38:18
Yeah, definitely a wonderful, wonderful human being.
38:21
So, yeah, but they, you know, I mean, there's kind of the joke
38:25
in the industry that, you know, you know, they don't really retire, they just die.
38:31
I mean, to the
38:32
point, because you can be as long as you have your wits about you.
38:35
Right. You can be 75 and run some contracts.
38:37
And, you know, you know, people at that point,
38:39
they're just calling you, you know, you're out prospecting, right?
38:43
Like these deals are just coming.
38:44
Why not make money like, so I, I respect and I get it.
38:48
It's just, we're ready.
38:50
We're, we're ready for this section to,
38:53
to go ahead and and enjoy their lives and not die as an agent.
38:57
Right. And an active agent.
38:59
Okay, so I've got some really cool slides from Family Reunion.
39:03
So these are going to be
39:04
if you're watching on YouTube, you're going to get some of these visually.
39:07
I want to caveat this is research.
39:10
They pull all of their research mainly from like NAR and all of the good sources.
39:16
I'm allowed to share this information.
39:18
So it's not like I'm not allowed.
39:21
They give us this information at KW, which is great.
39:24
So we can understand our market, our economy, what is happening.
39:28
So we've kind of gone over what first quarter is not quite
39:31
where we wanted it to be, but nobody's panicked yet.
39:33
Okay.
39:34
We're still seeing new listings. Come on the market.
39:37
We're seeing some inventory rise.
39:39
We're going to have some price correction.
39:41
It's going to happen,
39:43
depending on where you're at, if you're in the Midwest, North East,
39:47
we still are so low on inventory that it who knows
39:51
how those price corrections will come out.
39:52
But you're seeing price
39:53
corrections in Florida, California, Texas and places like that.
39:57
I think Austin had a 16% price correction, which was probably fair.
40:02
At the end of the day.
40:03
You know, prices have that's another thing we'll just talk about, like
40:07
we are still up there on prices.
40:10
So we're going to hit these numbers.
40:11
I'm going to kind of flow through them quick.
40:14
They'll have some visuals if you watch this on YouTube.
40:17
So we look at annual home sales just in general.
40:21
When we did our kind of 2025 forecast, we talked about a 4.5 million,
40:27
units.
40:28
Right.
40:29
And, that we might see and they're kind of maybe saying 4.2.
40:35
Now again, they're they're just adjusting these numbers a little bit.
40:38
That could change.
40:39
Again, there's some unpredictability. We don't know.
40:42
And sometimes it's better to think smaller than bigger.
40:47
But I what I want people to understand is when they look at this
40:50
graph like this graph goes from 1990 to 2025.
40:55
Okay.
40:56
And when we look at this we're looking at annual home sales.
40:59
So in 2007 we had 7.1 million home sales.
41:04
And then what happened.
41:05
Yeah yeah they're gone.
41:08
The crash we crashed.
41:09
We went down to 6.5 the next year, 5.0,
41:13
4.1, 4.3, 4.2, 4.7.
41:17
So then in 13.
41:18
Right. 2013, that's when I entered the market.
41:21
We really started seeing things getting back up.
41:24
And we had the what I call the great years, where we sold
41:28
5.3 million, roughly 5.5 million for the next five, six years.
41:33
And we had interest rates at 3%. Right.
41:36
So 20, 2021,
41:39
the height of the market, we sold 6.1.
41:43
So that was the fourth best year in real estate since 1990.
41:47
Okay.
41:48
Then we start falling off the cliff right?
41:50
2022 we dropped to 5.0.
41:52
We drop a million units. Boom
41:55
23 4.1.
41:58
Wait.
41:58
So the cliff is there more?
42:00
Yeah.
42:02
So what Gary's been saying and he's been saying this since the end of last year.
42:07
We've hit bottom, right.
42:08
We we hit it.
42:09
We did 4.1 in 323.
42:12
We did 4.1 in 24.
42:15
So they're projecting again now 4.2.
42:18
So I still think we're going to land maybe anywhere up to that 4.5 number.
42:22
Just looking at some other data from NAR.
42:24
But we'll see. Okay.
42:26
So the problem is is when you hit the highs
42:30
and then you go to the troughs to the low,
42:33
you don't immediately shoot back out.
42:35
Right, right, right.
42:36
You got to build back out.
42:39
So if you just when you see this graph, you're going to see that
42:43
if we had 2026 projected on here, we'd see kind of that trough back out.
42:48
So the sentiment is even though with everything going on, we're
42:52
we're coming out, we're we're back on the upswing. And
42:57
there could be some local markets
42:59
that have tiny bubbles, I guess I'll call right off that.
43:04
Again.
43:05
It's very local, but generally that way.
43:08
Now home prices, we are still not almost 10% above the trend line.
43:14
So the trend line is that homes appreciate about 4% every year.
43:19
That's your trend line.
43:20
That's why real estate is your best investment right.
43:23
So we are still 10% above that
43:26
with an annual median home
43:29
price of 418,000 418,000.
43:33
It's crazy.
43:35
In oh six it was 222,
43:38
and that was 21% above the trend line.
43:41
Then okay.
43:44
So this I mean this trend line has it's been moving up okay.
43:49
So again that goes to the sales volume and the dollars in the sense
43:53
that even though units might be down, the volumes up
43:57
until we balance out in our pocketbooks, I guess from an agent perspective.
44:02
Okay.
44:03
Which means that if prices are still going up, what are sellers willing to do?
44:08
Well, in the sell, they're willing to list their houses.
44:11
What does that mean to you, Todd. for Wow?
44:13
yeah, it means we're shooting those listings, right?
44:17
If you have the relationship with that agent that gets the listing,
44:21
sentiment is high.
44:22
Like Shannon said, that means they're confident.
44:25
I. I don't know about you all, but I feel confident in the businesses.
44:29
Right. Like, I feel I'm like, yeah, let's do it.
44:32
Shannon picks me
44:33
I had a lot more data. I'm like, let's do it.
44:36
Three years ago, I'm like, no, no, let's cut everything.
44:39
Yes, yes, yes.
44:41
Agents are feeling that too.
44:43
So yes they are. They are.
44:45
All right.
44:46
Mortgage rates right.
44:47
The that equation part of this
44:50
projection is 6.5%.
44:53
That will kind of be so
44:56
some of this is going to depend on what the,
45:00
administration does. So.
45:02
Right. Well, we'll have to see that.
45:05
But again, as six, 6 to
45:08
7% is normal.
45:11
So to say that's average isn't historically historically
45:15
this is crazy, Craig.
45:16
And you can see this on this chart when I send them to you.
45:19
If we go back from 1972
45:23
to 2023, the I'm sorry, 2024,
45:29
the historical average is 7.7 to 7.7.
45:34
Wow, 7.72.
45:36
Now, if you take it from 1990,
45:39
okay, it's 6%.
45:42
So because what you're cutting out is that early 80s when we had
45:46
17% interest rates
45:48
I remember my parents talking about those crazy high rates.
45:51
Yeah.
45:52
Most of the baby boomers bought their houses at those interest rates.
45:57
Yeah. That's when they bought right.
46:01
That so so that's what
46:03
they're kind of predicting then 6.5% again.
46:07
We'll see.
46:10
And then Canada, Canada.
46:13
You're not left out I got you. Yeah. Okay.
46:16
So they kind of saw the same thing we did.
46:19
Canada market flows a lot with ours.
46:21
So in 21 they had height of their sales, actually the best year
46:27
they had had since 1990, at least historically, they were at their high.
46:32
They fell off a cliff like we did.
46:34
So in 2023.
46:35
They did.
46:38
I think it's 444 million, I think is what this shows in millions.
46:43
And then in 24 they did 490.
46:47
So now the Canadian market is fluctuating
46:51
really interesting right now.
46:54
And unfortunately that is due to some unpredictably
46:57
with some tariffs and talk and markets and things like that.
47:01
They predict that to settle down.
47:05
But definitely in Canada, get to your local stats
47:09
and kind of figure out what's going on in your local market.
47:13
They're not
47:14
they don't give us a projection for Canada for 25.
47:17
So I don't I don't have a number that they're thinking of.
47:21
And I think it's just the data that they get.
47:23
They don't put out enough data to make a projection.
47:27
But their mortgage rates are right with us.
47:32
They're at about six and 6.7.
47:34
So they're they're
47:36
following our map now those are higher for them too.
47:41
So those are still but the lowest it looks like Canada got was like 4.7.
47:47
They didn't get as low as we did with our interest rates.
47:51
So you know so it's not as condition Canadian buyers aren't as conditioned
47:56
to expect a low like you all in Canada
47:59
got out of the idea that like hey I can't get an ultra low rate.
48:03
You got out of that quicker because you never got really that that low of a rate.
48:07
Yeah.
48:07
And historically, I mean, when you see this like 1991, they had 11%.
48:14
And that fluctuated
48:17
really all the way till 2008, between
48:20
9% and 7%.
48:23
And then they went down into the fives in the fours, you know, the grand years.
48:27
We'll call them from 2012 to, you know, 2022.
48:31
And then in 23 they bumped to 6.7 and 24 6.7.
48:35
So yeah, you know interest rates are a little bit more stable,
48:38
I guess you want to say they're than they were.
48:42
They were here.
48:43
So inventory will be a thing for them if they they're starting to see inventory
48:47
pick up.
48:48
So again 5 to 7 months is a great spot to be.
48:53
Some of their markets might have more than that.
48:55
And remember price prices affect inventory right.
49:01
Our inventory I was looking up here in Dayton Ohio and Springboro.
49:05
There was 44 houses for sale and all of Springfield.
49:08
Oh my goodness. Wow.
49:09
44 do you know how many of those were in the 200,000 and 300,000 range?
49:16
Under ten?
49:17
I was, yeah, not many.
49:19
So that it's those are things to think about too as you think about these numbers.
49:26
So can Canadian Canada inventory.
49:29
Sorry, guys, I'm not trying to butcher Canada's name here.
49:33
They are looking at they have they do.
49:36
There's some percentage.
49:37
It's a little bit different.
49:41
So they have that.
49:42
Hold on. This is a really cool slide.
49:44
They are in a balanced market per the Canadian percentage.
49:50
So they're a balanced market is 40 to 60% and there are 54%.
49:56
Okay. Inventory.
49:58
So they could be trending to a seller's market.
50:03
It could be trending that way.
50:06
Now let's talk about that because we've been in a buyer's market.
50:09
I'm sorry, but these could be turning into a buyer's market to a buyer's market.
50:12
Okay. Yeah, yeah, yeah.
50:15
Because we've been living in a seller's market for so long,
50:18
most of our media people don't even know what to do in a buyer's market.
50:22
Yeah, yeah, there's great potential on both.
50:25
It's just a different pitch.
50:26
It's a different pitch.
50:27
Todd so let's chat through that real quick.
50:31
What what is that pitch.
50:33
Yeah.
50:33
So so right now when you're sitting you're
50:36
talking about it right now an agent it's it's tough.
50:40
It's more tough to get listings okay.
50:43
Because there's not enough.
50:44
Again remember the boomers are holding on to them.
50:46
It's competitive agents.
50:48
What listings like Shannon mentioned they want listings and luxury listings.
50:53
And so now they are selling your services
50:57
to, potential home seller
51:01
saying, hey, please use me, me to sell your home.
51:06
I'm going to help you get top dollar a few days on market,
51:10
least amount of concessions, things like that.
51:13
And I'm going to market it so well with these photos, video,
51:16
drone 3D that we get the exposure you need.
51:20
Okay, let's flip the switch and say
51:22
now it's easy to get listings.
51:25
Yeah, I know some of you are like, what does that even mean?
51:27
Like, how is it easy to get listings?
51:30
There was a time when it was super easy and the and the listings were like, crazy.
51:35
All right.
51:35
So it's a buyer's market
51:36
when there's too much of something and not enough people to buy it.
51:40
It's a buyer's market.
51:41
So all you have to do is you have to go in to your agent.
51:46
You had to say, hey, I know you need to sell these properties.
51:50
I know your homeowners are breathing down your neck
51:54
because you haven't sold their property, and they need to sell it
51:58
so they can transition to a bigger home, a smaller home,
52:01
a different part of the country, whatever it may be, a different school district.
52:05
And your sellers are mad now
52:08
because they've been on the market for 120 days.
52:11
You're going to say, hey, do you want to help your houses stand out?
52:16
Do you want more people looking at them?
52:19
I can help you do that with fabulous photos and videos.
52:22
We'll get people to fall in love with the listings online,
52:26
which will lead to you selling your properties.
52:29
Yes, the marketing piece, right? Like,
52:33
you know, it is kind of interesting.
52:35
We, a wise man once told me,
52:40
many things, but this wise
52:41
man said to me that, you know, when it's a seller's market,
52:46
people aren't as picky about the agent they choose
52:49
because they feel confident that it's going to sell.
52:51
Right.
52:52
And a buyer's market people get really picky
52:56
about the agent they choose.
52:59
Yes. And we see that in stats.
53:02
You know some of the stats we can chat through is just from NAR
53:07
in their home buyers and home sellers survey that they do.
53:11
And we see that we see kind of all of this stuff in the numbers.
53:15
It's really crazy.
53:17
That this all kind of correlates back over
53:21
to how people buy, how people sell and what they're looking at.
53:26
And one stat that we see is that right now,
53:29
70% of people only interview one agent, whether they're buying or selling. Wow.
53:35
Right. So now same thing.
53:38
But if we slip into this buyer's market, they will interview more
53:42
because they're concerned about their house selling,
53:45
and they want to make sure they pick the right agent.
53:47
So being able to present as an agent and a listing presentation how you market
53:51
their home, we know is agents price rolls.
53:54
Right. Price is going to really set the right.
53:58
But home sellers believe it's marketing.
54:01
So you have to come in with a strong marketing plan and show them.
54:06
And that is where media companies absolutely.
54:09
Love that.
54:09
All right.
54:10
Really quickly, the tip this website features okay,
54:14
this is what the consumers told on this survey
54:19
that they liked about a website feature from an agent.
54:23
Oh, interesting. Okay. What is it?
54:26
So 96%
54:28
think photos are very somewhat useful.
54:33
Okay. So 90%.
54:35
You better have good photos now, right?
54:37
We're past the days of cell phone pictures.
54:40
Let's go. Okay.
54:42
87% find floor plans to be useful.
54:47
Oh, 87% for 80. Okay.
54:50
I thought that was a very interesting stat with the floor plans,
54:54
virtual tours.
54:55
Now, I have tried to ask NAR for years and years and years about virtual tours
55:00
because they won't dictate what that means, right?
55:03
Like they will tell me. Does that mean it's a video?
55:06
Does that mean it's a 3D tour?
55:08
They just say virtual tours 75%.
55:13
And the big one drumroll here we go, begins.
55:17
Oh yeah.
55:18
So 62%.
55:21
Nice. Yeah.
55:22
We're we're finally seeing those video numbers.
55:25
You know, now, I would argue where video really matters
55:28
as an agent is a lot of branding stuff too, right?
55:31
There's a lot of opportunity and branding. So
55:35
in 2024, 88% of buyers
55:39
used an agent to buy, right?
55:42
5% used a builder,
55:45
and 7% was the previous owner.
55:48
Okay.
55:49
Now on the sell side, 90% of people use an agent to buy
55:55
six for sale or to sell.
55:57
Sorry. Thank you. Okay.
55:58
Thank you. Too many buy sell words to sell.
56:01
6% were face bows. True for sale by owners.
56:05
That seems like it's down.
56:06
It is down historically 8%.
56:09
Okay. Yeah.
56:11
Which is an interesting topic that got brought up on our Facebook group.
56:15
I don't know if you saw that question people are asking.
56:18
Yeah. So there is I can't remember who posted.
56:21
Somebody posted about like fsbo and doing work for them and charging them.
56:25
I think they said that fsbo found them online and placed an order.
56:29
And so.
56:29
And that's for sale by owner. Yes.
56:31
For sale by owner. Yes, yes.
56:34
And so they were talking about like do I charge it more.
56:37
Do I this, do I that like that.
56:39
You know, kind of just that age old topic that we talked about about services for
56:43
sale by owners.
56:45
And I just kind of made a
56:46
comment in there and said, hey, guys, there's a lot to think about with this,
56:49
but historically it's 8% that we have in our market.
56:53
It's not a lot. Right?
56:55
And if you think about it, half of that percentage
56:58
knows who they're selling to.
57:01
Oh okay.
57:03
Interesting. So cut it in half 50.
57:05
It's got a lot of potential 53% I think for sale by owners
57:09
already know who they're selling to.
57:11
So yeah.
57:12
So you're talking about 4% and it's 6%.
57:15
3% of the market is up for sale by owner.
57:18
So I think it's a business.
57:20
You just make the decision that you'll either shoot for them or you won't,
57:23
you know.
57:24
And I and I said in there, you know, always think about the agent relationship
57:27
because I think that's the most important thing.
57:31
I mean, as an agent, I truly appreciate
57:34
while stance on for sale by owners,
57:38
because I know I'm not going to go compete with a for sale
57:41
by owner who has beautiful marketing from wow video tours.
57:46
So that's my opinion isn't coming from an agent.
57:50
But as every company just make your decision,
57:53
either you're going to do them or not and just know
57:56
it's really not that big, big part of your business.
58:00
You know, I would say Airbnbs and that kind of stuff is, is more,
58:05
just to give everybody real quick, just kind of some insight,
58:07
I guess I get asked all the time like, hey dude, what is Wow doing on this?
58:10
What our stances at Wow is we will not shoot for our for sale by owner.
58:16
We just will not. We're sorry.
58:18
We only work with realtors.
58:20
We understand the importance, we see the value.
58:22
We're so sorry we won't work with for sale by owners.
58:26
And I will tell you that over the years we've lost some jobs
58:31
and it's been a few jobs. Literally.
58:34
People call us and we tell them,
58:35
and we actually have some homeowners that call us and we say no.
58:39
And then they leave us bad reviews on Google
58:41
because they're not happy that we don't shoot for them.
58:44
And I'm I'm not offended.
58:46
I'm actually, you know, I don't mind that.
58:49
I don't like upsetting anybody, but if they want us, great.
58:51
They can't have us.
58:52
But I can't tell you the number of times that I've pulled that out of my pocket.
58:56
And I've mentioned it to a realtor, a broker, a group of realtors,
59:01
and they all go, what? Really?
59:03
Oh, that's that is really nice.
59:06
And that shows you're a that shows
59:08
our allegiance to the realtors.
59:12
Think I can think of some names.
59:13
We just talked of a realtor that used me 15, 18 years ago that finally retired.
59:17
She sent everything to us.
59:19
Even after I stopped shooting.
59:21
She sent everything to us.
59:23
She never thought about anyone else.
59:25
Why would I ever go shoot for her?
59:28
Potential.
59:29
The sellers, the homeowners?
59:31
It doesn't make any sense.
59:33
I just don't feel right with that.
59:35
Our realtors are loyal to us.
59:39
I feel like we have to be loyal to them, to not just not go around them
59:44
and to make $250 or $300, whatever may be.
59:48
Yes, yes, I and I think I've told you that for years,
59:52
I think that was a great stance to make
59:54
because again, at the end of the day, it's not a lot of business.
59:58
Although we did have that one guy, remember
1:00:00
that thought he was protected class as a for sale by owner.
1:00:04
Do you remember? Yeah, he.
1:00:05
Yeah, he was super, like he was going to sue us over protected class.
1:00:09
I'm like, I'm it's no different than a you don't
1:00:11
you go like, why can't you go shoot at a private country club or a member like.
1:00:15
No, you just art.
1:00:16
No. Like that was funny.
1:00:19
I'll never forget that story with that guy.
1:00:21
And you might you might upset somebody, but you're going to win with the realtors.
1:00:27
And and you can even say something,
1:00:30
you know, like, we just feel that,
1:00:33
a homeowner is going to get more because they do.
1:00:36
Okay?
1:00:37
Homeowners make more money if they use an agent, even with paying commission.
1:00:41
It's proven in the numbers at the.
1:00:43
That's through the Nar buyer and seller report.
1:00:45
You can look at it, they always have a number in there.
1:00:48
I think last year it was like $75,000 more that you make,
1:00:52
like on average, by using an agent.
1:00:56
So it's having that conviction to say, hey, we just truly believe,
1:00:59
like the best thing you could do as a home seller is use an agent.
1:01:04
So I think it's awesome.
1:01:06
All right.
1:01:06
To kind of wrap this up, it's really a tale of inventory.
1:01:10
It really is, watching inventory, paying attention.
1:01:13
The inventory.
1:01:14
The inventory tells a lot of stories.
1:01:16
Are you and the buyers, the sellers, kind of a balanced market.
1:01:20
Remember, we never seen a balanced market for long, so we had a balanced market.
1:01:24
We all trend one way or the other.
1:01:26
And you'll know as soon as we start trending it'll be that month.
1:01:30
So it kind of goes, people ask me when is a great time to buy a house,
1:01:34
or when is it a great time to sell a house?
1:01:36
And I say, when you need to.
1:01:38
Yeah, it's when you need to sell it.
1:01:40
Don't wait.
1:01:41
You can't predict interest rates.
1:01:43
And if you look at the appreciation line where 10% sell
1:01:47
above the trend line for appreciation, so that means you're making money
1:01:51
the moment you buy that house.
1:01:54
So get with the realtor.
1:01:55
If you're listening to this and thinking about buying,
1:01:58
if you're the media company, you know these new listings are coming.
1:02:02
So get in there.
1:02:03
If you're in Canada, maybe be prepared to go to a buyer's market
1:02:06
and shift your marketing, to your people.
1:02:09
We need to start getting some stats across the world.
1:02:12
So I it's, I need to connect with some of these media companies
1:02:15
that are in the UK and like, and get some data.
1:02:18
So I'll, I'll start to work on that.
1:02:20
But I love bringing this stuff to you guys.
1:02:24
I love talking about it.
1:02:25
It's very interesting and understanding the people and the industry
1:02:29
that we work with will always help us grow our media businesses.
1:02:34
Period. 100%. Yes. Yeah.
1:02:37
Shannon, thank you so much.
1:02:39
That was fabulous.
1:02:39
So insightful.
1:02:41
If, if any of you have any questions, feel free to just post them
1:02:45
below down in the chat.
1:02:46
You can also email us hello@spiro
1:02:48
Just say, hey, I got a question. You talked about this one thing.
1:02:51
I think I kind of have it, but I have a question.
1:02:54
Just email us.
1:02:54
hello@spiro.media will be happy to help you from there.
1:02:58
Because we want to make sure that this is in your head
1:03:01
because then when you go build those relationships, it's so much easier.
1:03:04
I can tell you, Shannon's educated me so many things over the years,
1:03:07
and I go see them to a realtor and it just helps build.
1:03:10
The realtor goes like, oh, wait a minute, you understand me?
1:03:13
It's like this. It's like this cheat code.
1:03:18
Like when you speak as though you know and care
1:03:21
for the person across the room from you, they go, oh, that's that's
1:03:26
really considerate that this person took the time
1:03:29
to understand me and my industry.
1:03:32
Yeah, yeah. It's it.
1:03:34
And then that's good for any industry, right.
1:03:36
Just understanding who you're working with.
1:03:38
If you're wanting to get in with the big brokerage, research that
1:03:41
brokerage research the people you know, I think be that stalker, right.
1:03:46
Stalk them and understand who they are so that when you go
1:03:49
meet them, you can build rapport faster.
1:03:52
You can, you know, build that relationship quicker.
1:03:55
Those are some of those cheat codes there.
1:03:58
But at the end of the day, like we're all in it to win it.
1:04:02
The agents want to make money. They want to list homes.
1:04:04
They want to help home sellers and home buyers.
1:04:07
I call it matchmaking. I think it's the best matchmaking in the world.
1:04:11
And they need it.
1:04:12
They need us to do this.
1:04:15
And so have that be a relationship
1:04:18
where we work together and we provide the support to them.
1:04:22
One more thing, too, is if you are a Spiro user
1:04:25
and you haven't seen it yet, I want you to know that on our YouTube
1:04:28
channel, we now have the classes that Todd and I teach monthly.
1:04:32
We have them there.
1:04:34
So if you're interested and we teach the same classes every month,
1:04:38
but I can promise you every class is different
1:04:41
as we have different users on and we get different questions.
1:04:44
Todd and I are not very outlined when we teach.
1:04:48
We we kind of allow the class to go where it needs to go.
1:04:52
The topics are there.
1:04:55
But please watch those and if you have any suggestions for classes,
1:04:59
put them in there.
1:05:00
And the comment so we can bring those classes to you.
1:05:04
Yes. We are happy.
1:05:05
We're, we're just honored to bring that to you.
1:05:07
It's exciting for us.
1:05:09
And so we're it's Spiro Non-spiro related it whatever it may be.
1:05:13
Ask us.
1:05:14
We're happy to we love connecting with you all.
1:05:17
It's such a vibrant and just exciting
1:05:20
community that we're proud to be a part of, so please use us.
1:05:24
We truly mean that.
1:05:25
And leave a comment or email us hello@spiro.media.
1:05:29
Ask them.
1:05:30
Well Shannon, thanks for another great.
1:05:32
Yeah yeah happy Easter Todd, and thanks for having me on.
1:05:36
Happy Easter to you as well.
1:05:38
We'll see you in another quarter.
1:05:40
Maybe sooner maybe see
1:05:43
All right everybody, hey, that's going to do it for today.
1:05:46
Lots of great information.
1:05:47
Thank you for spending some time with us.
1:05:49
We do honor and value your time.
1:05:52
If you have, if you have some questions, the pink chat bubble.
1:05:54
Another thing that I should mention, because this is the Spiro podcast.
1:05:58
If you've been thinking about Spiro for a while, we do have a kind of done
1:06:01
for you program and white glove service.
1:06:04
Yeah, we actually, you know what?
1:06:06
Nick might kill me for this.
1:06:09
Oh, okay. Well, let's let's try it.
1:06:11
I, I made it this.
1:06:12
You might kill me for this.
1:06:14
I may do a lot of here, right?
1:06:15
Yeah. Let's do it live. I love it. So we.
1:06:18
If you are a REPP launch Student
1:06:23
and you
1:06:23
are trying to launch your business and you are struggling
1:06:27
or need help with Spiro, we are going to take the program.
1:06:31
Todd about to tell you about and give you a 50% coupon.
1:06:35
So. Todd Oh, yeah, okay.
1:06:38
We did program.
1:06:39
Yeah. Hey, we got we did.
1:06:41
Okay. Great. No, I love it.
1:06:43
We can help more people.
1:06:44
So yes, if, if,
1:06:45
if you, you know, part of setting up a system is you have to set up the system.
1:06:49
And that's any system.
1:06:51
But if you come in to Spiro, you have to put all your info in there.
1:06:54
And if you're like, hey, I ain't got no ain't nobody got time for that.
1:06:57
Whatever the YouTube video was, we have time for you and it's free to you.
1:07:03
The only thing that we ask you to do is we just ask you to load your system
1:07:07
with $500 worth of credits, okay?
1:07:11
And then we'll do it all.
1:07:11
You commit to us, we'll commit to you.
1:07:14
So we will do will build your order pages.
1:07:16
We'll do everything. We'll do a training with you.
1:07:17
Will get you launched.
1:07:19
And now, we're all finding out for the first time, which I'm excited about.
1:07:23
REPP launch user.
1:07:26
So REPP with Eli Jones, if you would like that
1:07:29
and you're in that program, message us and you'll have that for
1:07:32
instead of loading 500 in there, you'll just load 250 in there.
1:07:36
And then you can use those credits.
1:07:37
However you would like them.
1:07:39
Yeah. Yeah. So we want to helping hand
1:07:43
and help them as
1:07:44
they're, you know, spending money to grow their business.
1:07:47
We understand that.
1:07:49
And so the 250 credits, we hope they go through very quickly,
1:07:52
but giving them a little bump up in Levy and the onboard team is happy
1:07:57
and excited to help everyone get into the system.
1:08:00
Yeah. That's great.
1:08:01
Such good news.
1:08:02
Shannon.
1:08:02
Thanks for the good news Friday. Yeah.
1:08:06
All right, everybody, hey, that's going to wrap it up.
1:08:07
We appreciate spending time with us.
1:08:10
Please take time to be thankful
1:08:12
for the blessings that you have and take a breath.
1:08:16
We'll see you on a week.