Jason Bramblett Real Estate Show Podcast
Jason: Good morning and welcome to the Jason Bramblett Real Estate Show. Hope everyone had a fantastic Thanksgiving. You've enjoyed. Well the bird the family the friends the football of course, or maybe not depending on who you were pulling for. And then of course you survived Black Friday the what is it cyber? Monday is
Speaker 1: that , yeah, I think it is
Speaker 2: my house is seems to be cyber every Flippin day at least that little smile and truck is always dropping off stuff. It seems I moved two months ago. I did not take
Speaker 1: Amazon Prime long to find it figuratively. They probably found you quicker than the post
Speaker 2: office no question about it. but today we are going to dig into really how to get that house sold that no one seems To want this is so this time of year. we have to to Big months in which we feel the frustration of owners June for whatever reason is a big month when owners have attempted to sell their house in the spring and it did not work out and so they start , they call us and say hey could you could you help us and then November December is another time the , they are kind of regrouping replanting for the new year. They had a house on the market maybe through the fall and they are realizing they need to make a change and so we are going to we are going to dig into maybe what some of those issues are and and really in order to know what it is that you need to accomplish. You need to think like a buyer. You need to think like what it what is that consumer looking for? And so we are going to look at every single thing that the buyers will have kind of have on their wish list or checklist this year. and and what you also figured out is just lowering the price Denmark and and we see that time and time again, and there is Incredible price decreases going on and yet no results are following that there is a big clue in there. And so we are going to dig into that because that is a frustration. It is worked in the past and yet the owner now is going what's the deal? , used to be that if you you could attract someone in with price and they would bite and now, , you're lowered the price on your home 30 40 50 thousand dollars over the course of a year and nothing. Nothing, and there is a reason why and I think we have got the answer for you. I know we have the answer for you. you can stay tuned we are going to dig into all that of course your calls and emails. You can go to Jason brown.com. Click on that email icon. Shoot us a message over happy to answer that or give us a call the office 5 5 3 0 7 9 6 so with that Bring It On
Speaker 1: All right. here is my question. We have talked about this on the show before you always talk about the need for kind of a plan A A Plan B. Plan C because no one really knows ultimately what is going to be the the magic, , that makes it go so I have got a house maybe it is been on the market my realtor had a plan a and for whatever reason good bad planning hasn't worked and unfortunately like we talked about there is not a plan B in a pricey. I need a plan Jason. How can you help us? What are you going to do to fix that
Speaker 2: issue? Yeah, so, that there is a there is we look at Trends two main Trends are key. We have talked about a many times on the show here and for most owners going back, for 20 years now, , if you did not have a house that may be appealed to a certain home buyer. You could entice them in lower the price make a discount whatever and and typically hey they jump on it what we are seeing now is well, it is just it is just not the case and those buyers are nott willing to kind of They are not willing to take your bait. If you will, you cannot really dangle a carrot. , I was seeing some some, , $50,000 discounts in the marketplace and it is still not a big enough incentive to grab somebody's attention. And so, , there is two ways to look at that. Wow. The house is really really overpriced or Price does not matter. It is not price. It is the product and that is what we are going to dig into today. And it is really just this buyer is we We do not live in a generation of fixer-uppers. We do not live in a generation where people do do things. This is a disposable world. We live in the TV's broke. We throw it away and we go buy another one, , we go to the big box or well, maybe we did not go to the big box anymore we go to prime or whoever and online and just let it rip and push a button and golly by 3 o'clock tomorrow. It is there and done. , it is kind of crazy.
Speaker 1: You mean I thought I need watching HGTV. I thought everybody was a fixer-upper. Now, you you it is interesting. as the
Speaker 2: shows have become more popular less people are doing it. And so and for a good truthfully for a good reason statistically, I think it is somewhere around anywhere between 15 to 18 percent of people can visualize a space or a room without seeing it. It is so it is a very small percentage of people. Typically very much, right brain thinkers and and , they are artsy people if you will, I think that is right brain, right right right left whichever one of the two. what it is the one that I do not have how about that? And so I fall into that category I can visualize it once I see it as I do not have to see it in that house and said that see it somewhere but a lot of people cannot do that. They cannot walk into a home with your furniture in there and figure out what their skin is going to look like and and so sometimes for those It is it is easier to sell a vacant home. They cannot get past that and the other thing is they do not have the skill set to do this and and and 20 years ago, , people would take this stuff on they would do the painting The updating. there used to be building programs in the market right here in the Triad it was , basically Sweat Equity the Builder would take the house to a certain level and then like if you wanted you could come in and paint and work off some of your down payment, those Is do not exist anymore, but there were there were people willing to do that. Like hey, I can save money by coming in and slopping this paint on a wall myself, even though it looks horrible. I did it right it is mine. It is I had a piece in this and and that is when away and it is went away in a big way. And so now we have owners trying to and attempt to entice people with price discounts and they do not want it. They want the finished. Act and so you see this wait list of new homes and this is why the finished product new construction is going to do very very well in the future and it is not because everybody wants a new home. It is just they are not going to find anything existing in the market place that is going to meet their criteria and they are going to migrate toward new, , they are just going to migrate toward it. and it is kind of nuts. whether it is the noun, the down Incisor, it is interesting to so the people that have actually done The Sweat Equity in the past. , , the guy that is bought three four five homes in his first house was the Fixer-Upper if you will kind of how I , how I got started. I just went in there and started, , figuring things out right and but that does not exist anymore and the downsizer is like I have been there done that or the t-shirt and I am not doing that again. I cannot tell you how many times Talk to empty nesters and they want to get out of the big home and they want to buy another one and and almost verbatim out of the out of the typically. The husband's mouth is I ain't fixing nothing.
Speaker 1: , like I have been there done it
Speaker 2: I am I want this house is going to be turn key ready,
Speaker 1: but I can see that if you've got , it is me to do it one time and maybe it is quite it is cost efficient as well. The first time you do it, but you reach a certain point where you're like, I just do not want that hassle.
Speaker 2: Yeah, and it is It is significant. That is one of the biggest changes I have seen in the role. , I am really it is like ninety-nine out of a hundred down sizers that were talking to her. Like I am not fixing anything. This is and they and a lot of them actually are migrating toward new construction as well. And so it is going to be interesting to see what happens with some of these homes. But , look they paid their dues, , , and they are not going to do it again. so we have that additional National Demand on that type of product plus the younger generation interestingly enough is wanting the same type of product. They do not want to do so you got this this this fight in the middle and this is why if you have a quality updated home it is going to sell and sell very quickly. And if you are in the situation where you're like, hey, I have got a great house but it is not selling then look around. What is it? What are you offering is it? Dated is it the brawn paint colors the wrong generation? And of course, this is when we typically will get yeah, but Jason, I do not want to paint because I do not know if the like it. Well, here is what we know for sure. They hate what you
Speaker 1: have tried something different. you probably cannot go wrong with anything
Speaker 2: different than what you have your, , even if you chose it wrong, you're still on the same boat. And here is the thing if
Speaker 1: you hire us will help you and we'll get we know
Speaker 2: what paint color they are looking for. We know what's in style. We are talking to Bill are too. Buyers and Builders, but we are talking to buyers every day.
Speaker 1: They are telling
Speaker 2: us every single day. Here is what we are looking for. Here is what we are looking for. Here is what we want. Can you find it? No does not exist. we have to go make it happen. Right we have to take an existing product and and transform that into the product that the buyer wants and that is where a lot of frustrated owners are right now. It used to be that you could just put your house out there take it or leave it. I ain't doing nothing. But that that is not the case anymore. The way that that generation is is already left us and , you thought you talked about how things change and how quick change happens these days boy. It is changed. this demographic of buyers is really changed exponentially quicker. I think than then probably what the market even realized. And so now we have this whole entire wall of buyers out here to like yeah, we are ready, but you do not have the Of force, it is a it is an interesting place. We are in right now.
Speaker 1: if I am hearing you correctly assuming you had the big crystal ball, the Jason Bramblett then the Magic 8 Ball the magnets are you I love these people and you sure you shake it up. Absolutely you're thinking that as we move into the future that discounting the price is not going to be as effective as it is even currently I do not think you gotta
Speaker 2: , for some people you cannot dangle a big enough carrot out there. it just you just Cannot so it is I am I am already seeing that it is not enough now for sure. I am already seeing the results were already getting that feedback. , the other issue we have is this younger generation. They do not even want the product that most of the boomers are offering
Speaker 1: they do not even want it. even if it was like free, I do not
Speaker 2: want your 5200 square foot
Speaker 1: house. Tiny homes, right? , Well, it is it is it is
Speaker 2: rooms of which are not used and so, , I would suspect in the next 10 years and it could be sooner but I'll say I'll give it 10 you it will be very difficult to find a house playing with a formal dining room minute. I'll most probably impossible because it is it is the most it is the least used room in a
Speaker 1: house, , I wouldn't have I wouldn't never have thought that until you just said that because I'll be honest in the house that we just bought. We have got a nice dining room and we got a nice table in there and we used it on Thanksgiving. Yes quite honestly will probably use it on Christmas. Yeah, we'll probably will probably use it about four times a year and the other times it'll become where my daughter's book bag and all of my wife's sports stuff goes and and it'll just become a dropping zone. That is what it is. Yeah,
Speaker 2: right it is because because that tables at the perfect height to drop anything you want on it,
Speaker 1: right? Is true it is
Speaker 2: it is a it really is a more starting to see that Trend so it may take longer than 10 years, but I would suspect in the future. We just we won't see it. , come on think about if you're an empty nester. really you and your wife going in and saying that your 12-seat dining room table to have you no dinner. No, you're sitting in your disgusting nasty chair that you've moved 40 times,
Speaker 1: right? Writable it is comfortable. Yeah, and you're sitting in front of the
Speaker 2: TV or whatever. It is not everybody but that percentage so used to be that 70% of the people ate in the dining room. And now it is probably 20% of the people. There is always going to be a percentage of people that are traditional and they do that and that is awesome. And if that is your lifestyle fantastic there is a buyer out there for that product, but it is becoming less and less and less now what we are looking at is how do we recreate the space? What? We use this room for we do not really need a actually do not even need an extra bedroom because people are having less less children. What can we multi-purpose this this room into what can we use it for? , buyers are looking for actually smaller homes with higher-end capabilities more Tech, cameras are going to become the norm, right and in homes, not necessarily even from a security standpoint, but just communication I like , I want to I want to talk to my wife I could just pull up my security camera and it is got a microphone on it and have a conversation right? I do not need even pick up the phone. we can just , talk back and forth through through the home Computing system, right? And so I
Speaker 1: mean, I do not know it is almost
Speaker 2: like go watch, , whatever. I guess Star Trek, from 20 years ago and that is kind of where we are it is not it crazy that mr. Spock was right all this time. now if we could just teleport people as
Speaker 1: if that'll be Have them be the one I want to especially when you're looking for
Speaker 2: when some people just suffered from , 12 hours of travel for Thanksgiving that whole teleport thing would be
Speaker 1: sweet. , how much more I would vacation if I could just teleport myself on a second like to California or Arizona.
Speaker 2: Absolutely. Yeah, but you got to deal with, , TSA and security and all this stuff. it is it is the it is the world we live in so but these everything's in a cycle. , it is just the way that we it is just The way that it works, but , here is the crazy thing if you think about changes, , the this generation does not want these big 5200 and half a million dollar homes. And and it is not what they are looking for. They are looking for something more techy more simple and smaller the average home prices went are I am sorry home sizes went from 3,200 square feet the 2,700 square feet. It is coming down. It is coming down for two reasons Young Generation wants a smaller more Tech house. And of course Boomers do not want as big Home therefore you're going to see it shrink, but here is one thing that we , you look at Trends. in the 80s, what was the most popular house? It was the most economical home to build the split foyer. You could buy one pretty much all day long for 60,000 bucks. Right? It is not really something that it is not pinging on most people search right now, , it is not like hey if I could just get a split foyer because it is a cannot know we do not think about those things money's cheap. And therefore having cheap money also makes a difference you go back to the 80s when interest rates were away above 10 to buy a home.
Speaker 1: Right? Right. , it is literally unimaginable now if
Speaker 2: interest rates and housing with the 10% whatever you think your house is worth just cut it in
Speaker 1: half it at least it'll eat you wouldn't truthfully there would be no more sales David a v just the everybody be like, okay. This is it. Yeah. this is it forever. You
Speaker 2: know now could it gradually go? Yeah, but if it made a you think about no matter what the house price is, it does not really matter because people live on what they can afford per month, so it does not make any difference what the the price of the house does it matter. The people that were that were living on a $1,500 a month housing allowance are still living on a $1,500. A month housing allowance. The only thing that is changed is the product but not because of the 1500 a month is because what $1,500 a month will get you and now it will get you a bigger house. And and so but it is still the same amount of money no matter what per month and so the price really does not matter. It is it is just what you get for that money. Anyway, we are going to dig into more of these shifts and transitions. Announcer you're listening to the Jason Bramblett Bill. Stay show. We are going to take a quick timeout will be back. You can go to Jason Brown what.com to get a copy of all our podcast will see you back here in just a
Speaker 1: second.
Speaker 2: Hey and welcome back. You're listening to the Jason Briella real estate show. before the break we were talking about though, the shifts and the changes and all the different things that go on with real estate today. And and what people are looking for it and maybe you do not have the product that somebody's looking for and you've got to make changes. You've , we have figured out that the DIY person even though it is a popular on TV, and there is plenty of shows look at I See a lot of the younger generation actually taken some of this stuff on maybe from a demo standpoint but not from a refix standpoint and let's face it some of you that are taking this stuff on really do not need to I know I , I am not your favorite person when I come over and tell you that your paint job is horrific, but let's just face it your paint job is
Speaker 1: horrific. And and even if you
Speaker 2: watch the shows, you'll notice that the people that do the DIY we are In construction and they had a
Speaker 1: talent for that. They
Speaker 2: weren't , Bobby working in the tech support team that decided to pick up a flip and Hammer it would start whacking on the wall. All right,
Speaker 1: or they do not do the work as you said they yeah, they demo it. They break it. Yes fix it. But you notice they have the professionals come in. Yeah and truthfully and
Speaker 2: if you really know anything about demo and construction and those things part of the And they have the brain that professional in Professionals in is because they demo the house with sledgehammers.
Speaker 1: That is not the way the demo, . No, it looks great on TV. It is
Speaker 2: awesome right busting through the glass and all that stuff.
Speaker 1: That is really not smart demo though. You're creating a big old mess for yourself and most of the time you end up breaking more things that you did not really want to do. Maybe your
Speaker 2: shin for one thing. , , they do not they are probably will be an episode one day of all the people that have been injured, on these reality TV shows like, , I slung the hammer but it flew out of my hand and smack the cameraman right in the right in the jaw or something, , but anyway the breakdown in all this stuff is we are seeing a shift away from the DIY the people that that that really are are those type of Fixer-Upper folks. There is again, this is not going to apply for everybody. I look at the big shifts. In the masses though. proportionally we are seeing less of this. We are seeing this, , think about this think about what we are doing in school today it how many how many kids are taking wood shop. , how many how many how many kids are learning how to weld, , , all of these trades are slipping out of Traditional School and you got to go to a special trade school now and and so what has happened? Here? We are we got to generation right now what we have the least amount of electricians plumbers and hva see workers that we have ever had. if you want to get into an amazing opportunity those three Fields, it it is incredible. I I call on these guys all the time in realistically some other voicemails will say look, we are booked three weeks four weeks five weeks six weeks out. Yeah, leave a message and basically We'll get back to you when we can we get back.
Speaker 1: Yeah, and and what a great thing in a
Speaker 2: terrible thing all at the same time, right? Yeah, because if you have something that really really you did not want to wait, , two months for that stinks. The other thing is there is a lot of there is a lot of missed opportunity because what will typically happen is some person is not going to wait and they are going to attempt to do this on their own not and not a good idea, especially if you're dealing with electricity. It is it does not forgive you easily when you let when you us up, right so think about those things. if you have a house in which you're struggling to sell that is where we can step in and help you out and we have been able to transform homes through our systems and our sales processes and , we can we like I said, we know exactly what the buyer is looking for in sometimes these things do not cost a tremendous amount of money, but you have to know where the start and you have to have a game plan. Maybe you figured out in 2019 that whatever you were offering is not. In what people wanted and price did not matter. That is who we want to talk to you. if you've struggled through 2019, give us a call 5 5 3 0 7 9 6 or you can go to Jason Brown what.com next week. We are going to dig into more of this in our Series, so we'll be back next week about have an awesome weekend will see you then. Be safe. Talk to you soon.