Jason Bramblett Real Estate Show Podcast
Jason: Good morning. You are listening to the Jason Bramblett Real Estate Show. So from Ghost to Santa and just like that, it is Christmas. Well, maybe not for all of you. Certainly not for me. Maybe some of you guys share in the same thing, but it is obvious where the retailers are focused, which is what we are actually going to be talking about today. Is your house focused on selling? Can a customer even tell that you are in actually the season? And some of you that have homes for sales but it really just does not look like Christmas or really any purpose at all behind what you are attempting to do. So perhaps you are that owner and you are who I am talking with today.
Keith: I thought we started celebrating Christmas back in July or so. Isn’t that when they put out –
Jason: I think that is right. Yes, it is like Santa, firecrackers, Fourth of July, all that kind of fun stuff. Well it is how it works these days right, Keith?
Keith Yes. So using my common sense approach, you are basically saying some homes do not appear to be trying to sell.
Jason: Well, yes.
Keith: Okay, then I am confused now. Explain that, please
Jason: Yeah, so they are selling but it is like fool's gold. The deal is this. Well really they are just fooling themselves and not the buyer. It is like this. You got a retail store and it is out there and it is just screaming Christmas is here. Everything is out there is Christmas. They do not put Easter stuff out, right? Okay, because it is not the message. So, people would walk into that store and say jeez, what in the world is going on. I thought this was a Christmas sale. Right? The product does it match what you are saying, and even worse if you say come in and see our great supply of Christmas stuff and all this and you are like come here, check this thing out. It is going to be awesome. And then all you have is a little bit of tinsel out. It is going to be a huge letdown. Right? It is a piece of Christmas décor, but you are not all in, and your product isn't lining up with your message and some owners out here are doing the same thing when they are attempting to sell their homes. So yeah sure you have signed up. You have got the house for sale, so to speak product, but it is not meeting the buyers’ needs. So your product basically, or the value that you are putting out there, is not matching up with the buyers’ wants and desires. And so you have to think like a retailer in order to get top dollar or even get it sold actually in today's market. And some owners are just basically they are going to get whiplash basically when these things change like the market is we are seeing a correction. We are seeing some shift and it is going to happen pretty fast. Truthfully, I have been looking at the numbers and it is like it may have been even quicker than it did in 2008. We are seeing a transition. We are seeing a shift in downward pricing and we are seeing homes stay on the market a little bit longer. So all of that stuff is compounding and of course, then you got the fourth quarter on top of that. But here is the other thing we are seeing. Homes that are prepared for the season, their homes that are prepared to sell are selling, and they are not just sitting back, watching the traffic go by. You have to take that action to create the product that the buyer wants if you are going to get top dollar and that is the key thing. Really just kind of get your head out of the sand.
Keith: Well, it makes sense. Whether you are selling retail or you are selling a home, the more focused you are on the buyer and the more specific your message is to that specific buyer then the better chance you are going to have to make a lot of money and sell stuff. So it makes sense. But what does that look like from a visual standpoint?
Jason: The seller basically is going to get feedback from the buyers and hopefully take some action there. But the comments kind of go like this. The house is okay but. What they are focusing on is the but part of the equation. And by the way, if no one is looking at your house, that is also probably the greatest feedback you can get. If you are out there saying hey, look at this display, which are the pictures of your house and what you are offering is so bad or it does not line up with what they are looking for, they are just not going to look at all. They are just going to keep on cruising by the properties. It is okay but does not really work. The house is dated, and it just means your house is not lining up with that today's buyer or their tastes or their wants or their desires. So you have got to change it, and that is really all it is. It is just supply and demand, but you got to change your supply, the product, of your but I do not want. If it is hey, it is the wrong color, the wrong style, the wrong light, stain, whatever it is. It could be countertops, appliances, heck, it could be the grass seed you are using. If you could be anything, but that is what you need to look at. And what we are looking for is commonality. Are we seeing the same things over and over and over, and what we want to do is get past the wrong, wrong, wrong, all the time and work into getting what is there. So what you are saying is really I am not committed to the season. You are selling Halloween in December and it is not lining up with the buyer. It is not lining up with what they are looking for. The good news is we actually know exactly what buyers are looking for. We have thousands of data points for selling hundreds and hundreds of houses a year. We are getting that feedback and you do not have to make the wrong decision. That is what we can do. We can actually walk you through we can instruct you and how to get that house ready to sell and to sell it for top dollar and it is really truthfully it is just that simple. It is not difficult.
Keith: It sounds easy. Clearly. I also hear ching-ching in my head when we start talking about updating and grass and different stuff. The question is if I am going to put that money into the house, am I going to be able to get it back?
Jason: Right. And here is the quick answer, Keith. No. How about that?
Jason: It is just the answer everybody wants to hear
Keith: It is honest though.
Jason: Invest money and do not get it back. Well, it is just reality. You will get some of it back, but the perception is we have a lot of owners that want to put money in and they want to get a hundred plus percent, and it simply does not work that way in real estate. There are some circumstances in which it can. Typically, when we are seeing multi-generational changes. So if you are going from a 1960s kitchen the 2019, okay. Yes, you will get an ROI. But you were not even in the millenia. Right? The avocado green appliances were a dead giveaway.
Keith: The burnt orange couch. I am going to get rid of that? Are you kidding?
Jason: Exactly. If you are making light-years of transformation then yes, but, and there is great data out here on all this stuff and where you put your money. But we do look at the highest possible return you can potentially get, but we also look at the realization of you are not going to get a hundred percent of your money back. But what you could get is your house sold. And that is a big difference between not selling and sold depending on your reason and why you need to move. Not everybody has the same motivation to sell. Some people it is a like to and some people is a must. You have to do it. If you make the right changes, if you do get the house into the buyer season and give them the product that they want, it will sell, and you will get the traffic. So it is just like this. If you want to lose weight, you got to stop eating hohos, It is really that simple.
Keith: For me, it is potato chips, but yeah.
Jason: I am guilty. I am with you. That and cookies for whatever reason. Those two things are like Kryptonite.
Keith: It is the salty stuff.
Jason: It is.
Keith: Here is the thing. I do not like to point the finger at anybody. I really do not, but in some cases is the agent not doing their job?
Jason: It could be. Yeah, we will keep the finger pointing down. But in one regard, I would say yeah, a hundred percent the agent did not do their job in telling you really the truth that your house has no chance to sell. Some agents believe that they win by getting the sign in the yard and that's how they are trained unfortunately. They are going to figure out whatever you want to Keith. They are going to make that music, make it sweet sounding to your ears, everything that, agreement, and all this great stuff and then voila, you have signed the paper. You have got a sign of yard. Your house is for sale, but the bottom line is you have got no prayer or chance. But what they should have really said was no, it is not going to work out right now. This is not the product at this price that the buyers looking for and that's a hard conversation. People do not like to hear no, and some people do not like to say no. Unfortunately, in our industry, there are some people that are just desperate to get a sign in the yard of whatever they got to do to do that and unfortunately, it just does not work. Here is a question though. If the agent is not doing their job, and let's just give him the benefit of the doubt and say they have done or lived up to their expectation. The real question is not why that one agent is not showing your house. There 6,500 of them. Why aren't the other 6,499 showing your house, right?
Jason: It is easy to blame the agent from a seller or owner standpoint when things are not going your way, but you really just next to expand your grasp of this and say hey, why isn't anybody showing our house? Forget our guy. Maybe we made a mistake. Maybe we hired wrong person. But all these other people have access to our house. Why aren't they showing it? It is pretty easy. It is ugly, and people do not have any interest.
Keith: But here is the thing. If you cannot hear what you need to do to your house to get it sold, that is on you because not every house is the same and sometimes you are going to have to make, as you put it, updates or some changes and if you want the house sold, that's the truth. You can put it on the market, but if it does not sell what good is that to anybody?
Jason: Absolutely. There is no HGTV show out here like change your house to 1920’s Victorian right?
Keith: It is called rustic.
Jason: Yeah, rustic. Yeah.
Keith: Shiplap and –
Jason: It is called not sold is what that's called actually. And maybe your house is not ugly. For all you people that are going to send me e-mail, and I love your email. Please send it, but maybe it is the price. Maybe the price, maybe market is telling you right now your price does not align with where it is. Real estate is this. It is always this. It is a price war in a beauty contest. You could be winning one and losing the other. You have got to win it both. You got to be the best looking at the best price and when you are both of those things, you will win every single time. The issue that we see a lot of times is people do not want to do both. They want to either be well, they want it whatever price they want, but they are not willing to win the beauty contest. And that is a key thing. So if you are losing at one, you are really losing at both. And an overpriced, outdated house has no chance of selling in all markets, hot or cold. It does not matter. Even in the good old times they say those were back in ’02, three and four, when you get breathe and get a loan, there were still foreclosures. At a time in which there was no inventory, construction was through the roof, anybody could borrow any amount of money just by telling somebody how much they made, the qualifications were non-existent, there were still foreclosures. Why? Because those homes did not meet what that buyer wanted even in a market in which it was bananas. It seemed anybody could buy a house even in that time there were still foreclosures. Why? People could not meet the criteria of price and quality. They lost in both or lost in one, and when you lose in one, you lose in both a lot of times. So there is a lot more to the house in just sticking it out there for sale.
Keith: You bring up a really interesting point because I think that for a lot of people their homes are personal. You had your first Christmas there. Your child grew up there. You have all those memories and to you that's important and special, but the people coming to look at your house do not have those memories, and what you are describing is a competition. You are really in a battle or a competition. You do not stop to think well, there is 2,000 other homes on the market in this area and it is a competition between us. You just think about the personal stuff in your home.
Jason: That is the one of the first things we want to do is managing the proper expectations. We really coach owners. When you put your home for sale with us you actually turn your house over to me. It is no longer yours. We have to remove yourself from it. Because the only way that you can really get the most money or make the most logical and best decisions is to remove emotion. And I will be honest with you, a lot of people have a hard time with that. That is the power of a great real estate agent. I have no emotion in your house at all, zero, none, and by not having any emotion in that I can make good quality business decisions because I am not carrying around Johnny's first steps, the time that Katie took the marker and scribbled all over the wall
Keith: That green chair. We cannot get rid of that. That is because what we sat there and watched TV every Saturday. We cannot get rid of that.
Jason: The time when Johnny, caught the garage on fire. Yeah, all those things that make a home and make it memorable and they are awesome. And what we want to do is we are going to take the great stories, maybe not Johnny burning down a garage, but we want to take the great stories and share those stories with those new potential buyers. But you have to remove yourself from that in order to get past. It is the letting go piece, and it is a challenge. The longer you have been in the home it is. It makes it more difficult for sure. So that is what we can help you do but not only that, but we can help you get the most money in the shortest amount of time by having a plan, having a system. So let's do this. Let's take a quick timeout. We are going to go pay some bills. We will be back. You can always send your love and your hate mail. Not that anybody would do that. Send the hate mail to Keith. I will just take your
Keith: I will filter through that for you.
Jason: Yes, you will. Jason Bramblett dot com or call the office 553-0796. We will be right back.
Hey and welcome back to the Jason Bramblett Real Estate Show. So hopefully you ran off and got your potato chips and your hohos, since we are going to fix your real estate problems, not your diet problems. I know that is what probably me and Keith will do after the show today. Go enjoy some of the festive foods that are available out there, which are always awesome this time of year. We have got Thanksgiving coming up and all those things. We do want everybody to have a fantastic Thanksgiving. If you have questions anytime, go to Jason Bramblett dot com shoot us an email or give us a call at the office, 553-0796.
Keith: Sometimes we get a situation and I will use one. Maybe I got a new job, and I am moving and my wife is moving and we are packing up and listen, I get what you are saying that we need some updates and do some things the house, but maybe time is an issue or we just do not have the ability or just cannot deal with all of that. We just want to sell the house and be done with it because we got other stuff we got to do.
Jason: Understood and you can do that. You have got to have a system and a plan. Not every single real estate company has a plan for that type of situation and that's something we recognized 10-15 years ago. The one-size-fits-all program for selling a home just does not fit all. It just does not work. We had to come up with different options and different things. We have done that. We have got an amazing structure of investors all over the place, hundreds and hundreds of millions of dollars in cash ready to buy maybe your house. The thing of it is we have the resources. It does not necessarily mean that it is going to be right for you, but it is certainly an option in which we can we can dig into and take a look at. Maybe that is you. Maybe you are that guy. Just the fact of having strangers walk through your house, open houses are just, the cleanup or—
Keith: It is a lot of work.
Jason: Yeah, it is a lot of work. Maybe you got small kids and or your schedule. You work 16, 18 hours a day, and the last thing you want to deal with is getting the house ready to show. Or maybe you do not even have the option. You have got relocated, transferred, and you have got to move fast and you just need it to be done. We have got options for you out there. You can definitely sell if you want to sell now. You have to understand that these companies are in the business of buying the properties not to lose money. Okay?
Keith: Makes sense.
Jason: Alright, so we had to have a simple common-sense approach to this. Right? If they are going to do all the things that you are not going to do to fix up the house to get it ready to appeal to the retail, to the masses, then they want to be compensated for that.
Keith: Sure. That time.
Jason: That is it. They are going to buy your house as is, so that means you do not touch it. You just basically agree to a price and leave and move out. You get your money. You are off to wherever. You are taking the yellow brick road. And they are going to come in and do all that fix up, do whatever it is to get that home in the current condition to win that beauty contest. Hey, that's their goal. That is their plan or they are going to keep it as a rental. Some of them keep them long term, but the reward to you and the reward to you is you get the house sold very efficiently, very quickly with is least headache as possible. The rewards to them is hopefully they have done all their numbers right and the market still is going to be good and they are going to make money. That is what they want to do. There is not 9 HGTV shows out there that are like this, right? You have got to think about that. Not everybody has to be a foreclosure to do this. Right? You do not have to be in a downward spiral, losing position to sell. This is a convenience play. If you simply do not want the aggravation of the traditional route of selling your home, again open houses, strangers through the house, all the prep, the getting ready to doing all that, if you just want to omit that and want to real nice convenient way to sell this could be a great option for you.
Keith: Well, what I think is kind of cool is in the months that we have been doing this show is it is about options because you are right not everybody's situation is going to be identical. Some people can sit on the home for 11 months, right? That is fine. They are just willing to take the best offer. They can sit. Some others will go the traditional route. As you've talked about some, what if you work in the military and you have been re-stationed and you are gone. You got to get out right now and maybe you do lose a little bit of money in that deal. But there is something about time and effort and all that. The fact that you guys provide options. I think that's really important.
Jason: Because we recognize that it is the one-size-fits-all just does not work for all and we have situations right now. We have owners that have built a home and so we inherited the house from another real estate company it did not sell. They had plenty of time and now they have no time. It went from hey, we are like going to have two mortgages here.
Keith: It is amazing how time just runs out all of a sudden.
Jason: Yeah. It is like you are watching the hourglass and you are like, okay, we are good. We are good. Okay, we are not good anymore. Right? And so now they are looking at these double payments, and then of course, if you are truthful to your insurance company, vacant home insurance is not cheap.
Keith: I had not thought about that.
Jason: Oh, yes, tremendously different price. Try probably a three to four times the amount that you are paying now.
Keith: It makes sense because so many more things can happen to the house while you are not in it. So much more damage can happen when you are not there to catch. It makes sense.
Jason: Absolutely. And for those that have vacant homes and you have been out of the home for more than 60 days, and you have not disclosed that to your insurance company, just so you know, you are paying a cheaper amount, but you do not have any coverage. Okay, so your claim is going to be denied. All right. So yeah you may get by with it. But if something does happen to your home, you are going to have some issues with the insurance company. It is better to tell them to get the right policy to get what you need. If this sounds good to you, this sounds like hey, this is maybe a convenient thing. You are going to see, I do not know, a couple hundred of our billboards around the Triad that we have put up everywhere, and so it is called our 72-hour offer. If this is something that you are interested in, we will come out, take a look at your home. We will get all the necessary data we need to send that to our investors, and they will make an offer. Now not all homes will qualify, so if you got a $2.2 million dollar house that is very unique, I can assure you they will not consider that. It is a big risk, but if you have a home in a subdivision and you just do not want to mess with all the hassle of getting it ready to sell go to Jason Bramblett dot com, and we can get you that information. Everybody have an awesome, awesome weekend. We will be back here next week. You can hit us up at Jason Bramblett dot com or 553-0796. We will see you then.