Renee Lossia Acho, KW Domain - Inside Real Estate Episode 184

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Yeah, sit back and enjoy the show. What is up, everyone? Paul Pasolokis, Brad Weisger, Salvatore Cuzmano. We are the trio of Inside Real Estate. Thank you for joining us again for another episode. For those of you coming back, welcome back. For those of you for finding us for the first time, welcome. Please go to irepodcast.com you go to Facebook forward/irepodcast to see us live. You can go to YouTube or anywhere that you listen to your podcast. We should be available there under Inside Real Estate. Or you can even just Google Inside Real Estate podcast. And we should come up. What's up boys? Today we've got Renee Acho on the show. She is one of the top agents here in Michigan. She's, she's, she's done it all. She's been on our show before, so we don't have to give her too long of an introduction. But I'm excited to get her up here in a minute. First, before we get started on the mortgage side, we've had rates really jump up quite a bit, really kind of slowing down the refinance volume. The only people really refinancing now are people that are doing cash out transactions. Sal, are you seeing less and less refinances?

Yeah, yeah. I mean, to your point though, there's quite a few people who still could benefit from a cash out refi, you know, paying off of a dad or doing whatever they need to do with it, increasing their home's value. So those are still out there. Not as many rate in terms, but you know, even with that being said, I think a lot of people look at like that's it. Right, right. A lot of people could still benefit by lowering their term and still lowering their rate or dropping pmi.

Yeah, there's still, there's still refinance opportunities out there, but with the rates going up so much. I want to get Renee's take on what, how that's affecting the, the real estate market. So without further ado, let's get Renee up on the show. Renee, welcome to the show.

Thanks, thanks for having me. Fun to be back.

Welcome back, welcome back. So we were just talking about interest rates and how they've gone up quite a bit over the last year since, you know, since the new year. And how are you, are you seeing that slowing down the appetite of the buyer or is it, is it just the same? Are they just, is it not really affecting them?

I think that historically we know it's, we knew interest rates were going to go up. I mean, anybody who's anything in the economy or understands the way, you know, the world works, we knew that with inflation that we're going to have to face some, some changes specifically to, to interest rates and other things. And so I think that it sort of was already absorbed into the expectation. We've been talking about it, we've been hearing about, you know, rates are going to probably go up by first quarter, second quarter. You know, the irony here is that at 4%, which, you know, let's say they go even to four and a quarter, these are still historic lows. Interest rates at 3 were outstanding. You know, we were doing things even in the twos, but that's just, that was a blip. And I think that, you know, people looking to purchase for, you know, 7, 10, 20 years or longer should still be pretty comfortable with a 4% or 4 and a quarter percent interest rate. It's still an absolute historical low. We just were a little spoiled for a minute. So the reality is it has not, from what we've seen, it certainly has not impacted the real estate demand, and it's the inventory that continues to put pressure on the demand for buyers to be able to obtain something. That, coupled with the idea that, yeah, we are going to see an increase, we're going to continue to see this increase throughout the year, most likely stable, but gradual increase of interest rates. So that is adding additional pressure into some urgency to the consumers to find their property in a really, really substantially decreased inventory level. So it's, it's, it's kind of the perfect storm. And, you know, not, not when you necessarily want to always be in, but if you have the appetite for it, there's, it's, it's, it's, it's still very, very active.

How bad is the inventory now? How bad it. Less than a month.

Yeah.

Less than a month of inventory.

Yeah, less than a month of inventory. And you know, of course, that's supply and demand again. If we talk about basic economics, supply and demand, why is low. The demand is high. The demand pressures are still higher because of now, you know, possibly interest rates or people who perhaps thought they were going to buy last year that weren't able to because there wasn't anything they found and thought, okay, spring inventory might give us different opportunities that hopefully we are seeing. I have seen several properties that we are in the process of rolling out in the next two, two months. And we probably have a dozen of them that we just know about right now. So there are going to be new opportunities. But the, the demand. I listed one last night and we listed it for a good price, you know, a fair price to the market. We have 10 showings between last night at 8pm when we pushed, you know, the button to send it onto Real Comp. And this morning we woke up with, you know, so there are people out there and it's across the price range board. It's not the 200, 300, 500 million to 2 million. It's, it's pretty consistent that the opportunities are low and the demand is high. And we don't see that really loosening up considerably. There will be more houses that hit the market. But the ongoing concern from the consumer that we're hearing, and I'm sure you're hearing it too, continues to be, well, I'd sell my house, Renee, but where the heck am I going to go?

Where am I going to go? Right?

Yeah.

Where am I going to go creative? And that's what we've done. We've been able in the last couple of months to really strategize with our clients and creating that process instead of. Yeah, well, there's nowhere to go. There are options and there are opportunities. And what you guys were just talking about is one of them. Buy before you sell. If you're worried about it, pull a refi, you know, pull up, pull a cash out refi, pull that money and sort of bridge the two opportunities so that you are able to buy first and then sell. It's a little bit unnerving, but it's equally concerning to not know, you know, for a lot of, a lot of buyers where they're going to go if they sell their property. So it's putting a bottleneck, I think, on inventory from really what it should be this time of year. And there's. If you have agents who understand how to navigate this, who've experienced 2008, nine other hiccups, ups and downs, market. There are absolutely ways to be able to capitalize on the values of the sale and be able to put yourself in a nice purchase position.

Yeah, a lot of people have equity in their house right now to sell, Brad. I mean, right. A lot of people have equity in their house. They're looking to buy a new house. They're going to get a good payout from the, from the house or using that down payment probably for the New house, but they can. They can pull cash out of that house and buy another house. Right.

So, yeah, I mean, you know, there's ways to tap that equity without potentially selling, you know, getting a home equity line or. A lot of people don't realize too, you know, you're like your retirement, it's easy to kind of pull from that and get the funds you need to put down. And depending on, you know, how quickly you sell your house, which in this market you could say would be very quick, you know, you can replenish those funds and avoid penalties and whatnot. Withdrawing from ira. But, you know, I mean, it's. To Renee's point, I mean, I don't really. I think if rates went to seven, there'd still be multiple offers. Yeah, you know, Yeah, I agree with that.

Yeah, I totally agree with that.

But I've never been in a market where over the weekend, the buyers don't even submit an offer because they hear there's, you know, 25 on it.

Right, right.

That's where it's kind of concerning, where they're like, yeah, we're just not even going to do it. It's getting crazy.

And that's what I'm. That's a lot of what we're feeling right now. There's. There's considerable buyer fatigue and agent fatigue, lender fatigue. From the standpoint of people like, you know what? I'm exhausted from this. And so you gotta, you know, seller beware. Sometimes we've trained and coached our clients, and in situations that highest and best isn't always the way to. And there's. There are. If you are. If you really have a pulse on the market and you understand what's going on, highest and best can actually deter people from putting in offers because they're sick of it. To your point, I think it was it Sal. Paul. I forget who this is.

Yeah.

You know, people are like, I'm not doing this anymore. Escalation clauses, appraisals. And then as a seller, when you're in those situations and people are putting multiple offers, highest and best, and they're putting appraisal waivers and appraisal guarantees. If you're. If your agent doesn't understand that they're select into certain situations with their loan. That appraisal guarantee, I had one yesterday. And the appraisal guarantee is not what people always think. They've got to be really careful. Also, I think that sometimes people are just trying. They're throwing a number out at the house because they're so sick of It. They're trying to capture the property. And then think later because there's no time to think. It's like, act now. Put your offer in. Yeah. Lock it up. And then take a breath and decide whether or not you really want the house. And you see them falling apart. So it's, it's gotten a little bit. It's. It's, you know, it's. There's some backflow to it.

Yeah, Yeah. I mean, I'm getting PA sometimes that have two week closes, two and a half week closes. And it's like, you know, what type of situation are we creating for this experience? Right. Like, it's going to be high stress. We got to get the appraiser right away. We got to pay for a rush. We got to do this, we got to do that. And it's like, why. Right? Like, why all of a sudden do you have to sell your house in a week and a half or two weeks? Right. I mean. Or close. Like, let's. How does that even play into it? You know, it's. I mean, I understand. It's like, hey, in two weeks we're leaving the country for good. Okay, that makes sense. Right. But like, good. We're fleeing. But people, I guess, to the. I mean, I understand it's probably not important. And usually it's like, okay, yeah, we get an extension if we need, but ultimately it's like unreasonable things are being put into offers. Right. And I think that's what's really, like, it's like, yeah, we'll win it, but we got to put like a week and a half close. Can you do that? It's like, I guess, like, what. Why are we. Why are we doing this? You know, like, it's unreasonable, but we're doing it because there's no supply and that's what you have to do. I understand. Yeah. But it's like, it's funny that that's even like being. Yeah, I know, right? It's like, well, let's. Yeah, we could close tomorrow if you want to put it on the P.A. you know, it's basically things are being put out there that aren't necessarily backed. Right. And that's what's like, concerning and to Renee's point, a highest and best situation. It's like, how realistic and. And is that the best offer, a two week close with a mortgage? Right.

Worse than that for buyers. It puts you in such a bad position. And I know we're trying to win these houses, but how about the no inspection thing?

No inspection is crazy. Yeah.

The liability, the concern. I mean, no inspections and we're getting them. You know, I mean, I can understand maybe a new construction, but people are really putting themselves at a disadvantage. And I think in a. And I get it, I mean, I certainly understand it, but why not even give yourself two days just to have some due diligence. But if everybody else is waiving it.

Yeah, it puts pressure, it puts pressure on the buyer to do that. But, but to be fair, to not inspect a multi hundred thousand dollar property or property that's 3, 4, $500,000, it's probably the biggest purchase of your life. It's kind of a wild thing to think about, to not, not get an inspection.

I think it's crazy.

Yeah, but people are doing it.

I'm not advising my country, but they are doing it. I, you know, on my listings, of course, I'm accepting. I'm the fiduciary for my seller on the buy side. I am not promoting or even. I'm putting it in writing that I advise against doing that because it's, it's scary to me.

Yeah, it is.

I see a lot on the, on the PAs.

Right.

Inspection is for informational purposes only. Right. And there's no negotiations that will come up on it.

So we write in there mechanical, environmental, structural issues only in a minimum that exceeds a certain amount of money. So unless we have something that's, you know, depending on the price of the house, let's say 1,000, 2,000, $5,000 or higher, you know, that is not going to. So it captures, I think, a little bit of a balance. Now we're not looking for loose screwballs, you know, and handles. We're looking for significant findings that are, you know, costly, beyond the scope of what you negotiated. And that to me is a fair. And it's a quick, you know, you can do it in a day, two days.

I mean, you buy a house with a bad foundation, I mean, you're screwed. You know what I mean?

And I think right now it's like you can get people in and out relatively quickly. They're not as busy as they were like last summer. Right.

So just have to have a network, have a long list of people who you trust as the inspectors, you know, five or six of them, and they, they get it. I mean, I think they're understanding too that this is. Urgency is necessary, but to forego that.

Entirely, not, not advisable. I would, I would not. It's not advisable. You can't, you can't. I mean, I couldn't with good conscious advice, people do it left and right.

Place and they're making me feel really bad right now. I bought both my houses with no inspections.

Brad's crazy.

Yeah.

I don't know why.

Well, you did it because you didn't want to spend the 500 bucks. Yeah, no, I did it because my first house, I didn't really care because it was thirty thousand dollar house. And then second house, I did it because. I don't know why I did.

To win the offer. You did it to win the offer. That's why you did it. You did it. Yeah, you're right. To get in the house or the market.

Was this crazy though.

Yeah. Yeah. So I mean, Renee, why. Why the spring? Like, why does everybody want to wait till the spring? Right. You know what I mean? It's like, I get it, you know, people want to, you know, potentially have their house show better. But in Michigan, especially with it being so seasonable here with the snow on the ground, being cold outside, springtime for us is really just big. Right?

Yeah.

You know what I mean?

Historically been on a time and we're a seasonal market here for sure. And every area has it. I mean Florida, their season opposite of ours. Because snowbirds are going from the cold.

Correct.

Warm. So you know, their spring and summer season is, you know, so it just depends on the use of area. So Birmingham, Bloomfield, Oakland counties, these areas, even Wayne county, you have a lot of people who are looking, number one homes look better in the spring than they do right now. I mean, when we're taking pictures and trudging through snow and people want to see the yards, they want to see the house, they want to see the landscape, they want to see the patios, they want to see the walkways and see what kind of condition and things. So that's number one. Which I tell people when we're doing this. If you're looking to sell your house in the spring, start in the fall, take photos. We have inventory photos of a lot of our listings that lead up to. So that we have that. But things look better in the spring. Also for school systems, you want. A lot of times people want to be out in June or July in their new house by August so that they can typically start the school year without transitioning mid year to the kids. So it does have a lot to do. These communities tend to be very family focused. Not all, but that's the big lean. And so spring market gives you that timing. And then of course, if you take November, December, those are holiday months and nobody really wants to deal with homes during the holidays unless they have to.

Sure.

January is like a, you know, catch your breath, go on your diet.

Go on your diet.

Isn't it funny, though, like, we're always pushing something, Right. Like, I always, like at the end of the month or whatever it is, there's always a holiday that everyone wants to close by and be in or whatever, whether it's Labor Day, Memorial Day, we want to be in by Christmas, we want to be in by the end of the school year, start of the school year, whatever it is. And it's like there's always a situation for everyone. I think you just got to figure out what that is for people and try to play to it. Right?

Yeah. But when we're talking about inventory, I think for us here, we just are so starved for inventory. I'm. The reason I'm asking is I'm looking for inventory. Like, are we going to get the inventory Renee, that we need to really get?

I can.

I can answer that for her.

No, we're not going to get it.

We're not going to get the inventory that we need because it's impossible without a mass death of people around the.

Area or builders building a lot of houses.

Yeah. Like record speeds. We're not going to get the inventory we need by spring.

Renee, do you agree with that?

Yeah. And there's actual reason, you know, what Brad's saying is accurate, but there's reason for it. If you go back to 2020, right. At coming out of the pandemic in May, a lot of people, if you recall, we were telling everyone, fix your houses. You know, you're in your home for three months. So a lot of people who potentially thought that they might go on the market for the spring ended up staying in the house, reorganizing. Re. You know.

Right.

The gym in the lower level, they updated their bathroom. They did the things that maybe they had anticipated not doing because we were kind of stuck there doing what we could. And so that inventory didn't come on. Also, I think there was a hold off on trying to figure out what life was going to look like when we opened back up those doors. And people were concerned about jobs and everything else. So that supply never hit the market. Then you have add to that the supply chain issues that we're having in the labor shortages. And that was a totally unanticipated. I don't think anyone expected it to go on now 18 months. So I have builders, which I, as you know, primarily my business has been a huge Portion of it has been a new development. Yep. And these guys are not only backed up from a labor standpoint, but they're backed up. They can't get the supplies inventory for thing or supply chains for appliances are a year out.

Yeah.

Okay. So this is just timelines. You can't even get the materials. Then when you do get the materials, if you look at lumber, it has gone up double in a year. It's gone. You know, wiring for electrical is 30%. Everything has had these increases. So what you have is this bizarre combination of what you would expect builders to be pulling their inventory that that would be coming onto the market that is significantly delayed.

Yeah.

Six to eight months and certainly, you know, some. No more is there one year of building. It's, it's going to take. Even building construction loans are going to 18 months now and additional draws because they know how long it takes. But then add to that the increase of expense, you now have inventory that you thought maybe was going to hit it, let's say a million dollar marker. Now it's 1-3-14-15. So even if it came in, it's not necessarily available in the same market price point that it was. So the inventory is there, but it's not where you maybe need it to be. No, we're not going to see probably I think there's going to be some loosening up. We'll have a little bit more inventory. I think it certainly we see it coming. We're talking to our colleagues. I've got a ton of pocket listings that I know are coming, that we're preparing, myself and some of the people I work with. But if we get to three months of inventory, that's going to be like, you know.

Right.

Huge advantage compared to what we've seen.

And what we expect and what's typical, Rene, Just in a normal market. What's typical?

I mean, you know, depends. Sellers market, buyers market. But six months would be comfortable. At least it gives you something to pick from.

Right.

You know, you don't necessarily want two year inventory that would have been, you know, 2006, seven, eight.

Right.

Six more. Seven eight. You want to pull back a nice balance of giving you that buyer and seller, you know, not, not totally. Right now we're such a seller's market because there's no inventory and we always want a balance. You know, it's unhealthy to be extreme in any situation.

Right. No. 100 and it's, it's. We're so far from a healthy market. It's funny we're so, I mean, we're here.

I mean inventory was low before the pandemic and has been for years. Right. So you know, that was like the most combustible fluid you could throw onto, you know, a flame. I mean, think of all that money. I mean, it's just crazy what we're seeing right now with, with interest rates. I mean, do you think, what do you think that plays into, you know, the next year as far as home prices go? You think they'll flatten out a little bit or you think it's just going to continue to unspirit, like spiral out of control? I should say.

I mean we're up 14 over last year. We were up 16% prior year. Yeah. Depending on your area, say averaging out 15 a year. Insane.

Insane.

It's insane. And so we really thought, I mean as I'm sure a lot of people did going into 2020, we thought that was going to be the correction year because it had been a 10 year climb. Look at, you know, the pendulums. You got 10 years of increase of values, right. Assume that that was going to be corrected. It wasn't obviously. And so coming out of there that was unanticipated. So then you have, you know, again, the supply and the inventory shortages which have increased the value the numbers. I think this year we're still going to see increase of value. We have already, you know, even early spring. But I think what we're going to notice is that inflation and increase of interest rates are going to then pull off some of that demand. Not so much because people, you know, can't afford the house. But when you're at 4%, like we said, still great, still wonderful number, even 4 1/2%, you cut that. Plus the inflation that we're seeing across the board is going to make a lifestyle examination for people. They're going to look at this and go, you know what? It's the down payment now at 30% higher for that house, plus a little bit more of an interest rate in the payment, plus my lifestyle costs, my gas, my, my groceries, my whatever going to go up. And the responsible consumer is going to say this has just gotten, you know, this might not make sense unless there's something spectacular that I find at a good price and it might pull some of that off. So I think that by the end of this year, my hunch is that things are going to calm down by the end of the year. I mean, we're not going to see an over correction. I don't think you're gonna, we're gonna.

Right? It's not gonna be like a two, like a huge correction. We're not, we're not going to lose 3% this year, right. I still, I see double digit gains still in my opinion, right. Whether it's 10 or 15, I still see double digit gains because I don't see any of these problems being fixed. I don't see the inventory problem being fixed. I don't see the demand going away. I really don't. I mean, yes, I think the only.

Thing that will correct this is a recession caused by job loss and people having to sell their homes, which would, they'd be in a good spot because they have a bunch of equity. But I mean, that's like the real estate market is not going to be the cause of a recession, right?

No, not like it was in 08, that's for sure.

No, that was caused by financial crisis.

Correct. It was more the mortgages, right?

Yeah. I mean, if you look right now it's, I mean, I mean another thing to think of as the stock market where it's at right now too. You know, it's. Everything's just nuts. But I don't see like us on our end here in this business. We're going to get squeezed this year, right? This is going to be the year that like, and not everyone, right. Obviously a lot of people or people who are really good will figure out how to navigate through it. But it's going to be a, a year of hunting and gathering, right? There's no more like easy fall on your face deals, right? Like the, that's just not going to happen. So if you don't know how to hunt or, or you know, find the opportunities, you're. You're done, right?

Yeah. The mortgage side is going to have a problem this year for sure. The more the mortgage, the. But I think real estate is going to be a healthy market. I mean, a healthy market, you know.

Like, I think real estate is going to have a hard time too, because think about it, there's. How many agents are there, right? There's almost unlimited amount of agents and there's a very finite amount of transactions happening because there's no homes to sell. So real estate is going to struggle too. It's not just us, it's both.

Yeah.

Real estate looks great because again, those who can find the opportunities. You got to find the business. Renee.

I mean, you're seeing it, right? You see, I mean, people come and go in the industry a lot, right? Especially in real estate. It just it's just the way that it works. Are you seeing an exodus of people that are like, frustrated, you know what I mean? Like, if I'm an agent and I'm like new and I can't get an offer accepted and I can't, I'm getting beat up by cash offers left and right and I can't make a living for my family, are you seeing people leaving the industry or is that kind of something or are people still clamoring to get into it?

People were clamoring maybe four years ago and they're absolutely recognizing that this is, this is a market for the experienced agent, the experienced lender, the experienced title company, the experience. If you don't have relationships and networking and the know, the, the wherewithal to understand the escalation clauses, how to navigate this, what you should be doing both as a buyer's agent, a seller, not only are you going to not be able to capture what you need to for your client, but you're going to possibly mess it up or you're, you're going have. It's, it's a very high, intense, high anxiety market. And it is not for people to, you know, in my opinion, we don't see a lot of people wanting to learn in this. They've had it just like we have, like I said, buyer fatigue. And so, you know, there's agent fatigue. People who have these, you know, buyers that want to find things and they keep losing these deals and losing these deals. It's a lot harder for all of us to capture what we're trying to do for our clients. And there's a lot of agents who are like, you know what? I just, it's hard to make it in this market. It's not, you know, hey, I'm going to be a real estate agent and I'm going to go look at pretty houses and know something. It has nothing to do with it. You, you're going to battle folks like, and you better how to use your weapons because if you don't, you will not only lose the battle, you lose the war. And we're seeing that from a lot of people who are like, forget it. It's not, I can't deal with it. You know, what's going on and I don't have the experience to help my clients the right way. And they're losing things left and right, right, right there.

I mean, there's a lot of bad agents out there, unfortunately, you know what I mean?

Sometimes it's not even experience. And I, it shouldn't Even be that it's about new agents. It's just about your ability. And in your app, there's. Listen, there's bad in every. In every industry, but.

Right.

This is not one for people who don't have a lot of patience.

A lot of patience. Yeah, it's gonna be tough. It's gonna be. 2022 is going to be an interesting real estate market for sure.

I think there's sun on the other side of the clouds, though, right? I mean, if you can weather it, I mean, you might go months, potentially, without closing a deal. Right. Even if, like, you. You're used to killing it. Right. I mean, there might not be a. There might be a month or two this year where you don't make any money. Right. And you got to kind of suck it up and get through it and figure out what's on the other side or get out of the business now and find another job. Because, you know, it's like you said, if you don't have the patience, I mean, you're done. Nobody really gets out of the business. This. This pulls you back in. I've seen so many people get out of the business and come right back six months, a year later, because it just. It just pulls you back in.

Yeah, but if there's no money to be made, man, I don't know. I don't see that happening. Like, it was. Like it's been in the past.

Very true. True.

So, Renee, what are you. What are you doing in 2022 that's different than 2021? I. I mean, obviously, you know what I mean? Like, are you changing some things internally, business wise, mentality wise? What's different for Renee in 2022 than 2021?

Well, I'm always looking to change. I love when people say, well, there's a shift in the market. So we have. There's always a shift in the market.

Correct.

If you become complacent about this industry, you may as well hang up your gloves. There's no. There's. You always have to be prepared for a shifting market. Either buyers market, sellers market, interest rates, inventory, financial crises. You have to be in front of this and anticipate what the issues are. So this year, coupling, you know, coming off the heels of last year, this inventory thing is a real concern for buyers and for sellers. And that has been. We have. I've studied the trend in the last couple of months to figure out exactly how to help buyers get to leverage the opportunity to purchase in this. In this climate and for sellers, how to do it in such a way that captures the highest value but doesn't scare away potential people, potential buyers. So the team, the constant training that I do for my team, we've added additional support. I have additional agents on my team so that we can all be making calls to the agents, creating, you know, building off the relationships that we have. Building our pocket listing coming soon, what do we know? Inventory to help those. The. The buyers that we have, as well as working with lenders that we have strong relationships with and helping the process. It's very strategic. People who are looking to react in this market are really going to be the ones that lose out. To be strategic and to plan and understand and be ready and have your strategy for buying and selling and your team together, your lender, your inspector, your, you know, whoever it is, your, your agents, to have your team or all be on the same page to sit down with that client. We do this with everyone. We're sitting down and saying, okay, what is the goal? What's the timeline? When do you need to be out? Do you have equity in your home? Can we bridge the two? How can we get it to help you buy without selling? Is that a possibility? If not, who are we? Are we getting the pre approval? Do we have it ready? Are we updating it? Every. This is like you have to be armed and ready and strategize with your clients. And that's really what we're doing is getting. Gathering data, meeting more with other agents, using our relationships that we have built over 20 years with, you know, the people within our industry to cooperate and work together to find these opportunities for the clients. But then also really be consultative. You should not. Our phrase and RLA that I use and I've been, you know, it's my. We are not here to. To collect commissions. We're here to create a relationship. And it might not be the right time for certain people to buy or. Or to sell. And that conversation has to take place first. The strategy then comes as a result of the conversation, and then the team is gathered and put in place so that we can all be ready to execute the strategy that's in the best interest of those clients. To have a call, say, hey, Renee, you know, I'm looking to buy a house, and then just start looking at a house for them. That doesn't make any sense. There's too much that has changed in the last two years that would be counterproductive to the results that they're looking for.

Yeah. And the average consumer right now isn't living it Every day. So they're just like, I want to buy a house. Right. That's. That's what they're thinking. I want to buy a house. How hard could it be? I'm pretty well qualified. I can get my pre approval, whatever. I just want to buy a house. So from a consumer standpoint, there's probably some education that's going along with that too. Right, Renee?

Gotta set the expectations. And that is where clients are getting frustrated, agents are getting frustrated. That's where the fatigue is coming in. If you are not educating your clients. And most are very. I mean, it's all over the news. It's all over the. You can't get away from it. But if you don't really understand the nuances of what's going on right now, you're going to have buyer or seller fatigue. There's going to be frustration. And that is why it is so crucial to make sure that you're strategizing with your team so that you all understand and you, you have the set expectations so there's not disappointment and frustration at the level that it could be without that.

Yeah. And as a consumer, I don't think it's ever been more important to have the right team around you. Right. Like having the right lender, having the right title company, having the right agent, having. I mean, if you, if one of these pieces. Because the real estate transaction is pretty complicated. Right, Right. It's not just like, you know, you find a house, you close, you're done. There's so many moving parts, and if you don't have them all lined up correctly and you don't have the right team around you, to your point, it could be a really bad experience.

Yeah. And I think right now that's what people are going through. So, yeah. Have to be. You have to understand the process and the difficulties and, and there's no, there's no completely smooth transaction. There are just people who know how to navigate through the process to help through those hurdles when you need to jump them 1000%.

If I, if I'm a consumer today, Renee, what am I looking for in my agent?

IT Knowledge. Not just market knowledge, knowledge of the process, knowledge of. In relationships, of experience that come, you know, with that knowledge is typically from experience of having relationships, having gone through circumstances that have been, you know, someone who's gone through 3, 4, 5 shifts that are like, okay, here's what we need to do. So it's absolutely having a relationship with somebody that you trust, knows how to help process, help you through the Process of what is a pretty, you know, like we said, rocky road right now.

Yeah.

So I'd say experience and confidence in the person, not just as the realtor, but as someone who understands all of the industries that are tied back to, you know, the execution of you.

Getting the realtor is almost like a conductor nowadays of an orchestra. Right. Like you've got, you've got all these moving parts and you're the, the realtors up there kind of sitting up there kind of conducting the whole thing. And if you don't have a good conductor, the whole orchestra is going to sound like you better have been in.

That orchestra for a while. Because there are definitely tricks of this trade, of this market. There are nuances. There are things in an offer that I look for that if you are a newer agent or someone who hasn't really thought through this process or understands with your team, the lender, how to add advantages, you will lose that deal over and over again for some simple changes and simple things that you're just not aware of because you don't have the right team.

Yeah, for sure. So, Renee, I don't want to take up too much more of your time. Please tell the audience how they can get a hold of you if they need to find you. And then we'll get to three questions.

Oh, boy, forget the third question. You can get a hold of us, rla. RLA Real Estate Group. We are on all the social media platform, so it's RLA Realtors. Or you can reach us by our number, which is 528-48587-RLA1. And we're here to help with whatever your questions you have.

That's awesome. That's awesome. So now we're on to three questions. Brad, Sal, do you guys have any questions you want to ask Renee? I've got one. Renee, if you had to eat one dish for the rest of your life, what would it be?

One dish. That's it.

That's it.

You're not gonna believe this. I was thinking about it yesterday. I am an absolute glutton for a cheeseburger. It's just cheeseburger.

What's your. What's your favorite cheeseburger? Let's go there.

I don't know.

Are we Talking like a McDonald's cheeseburger?

Good old fashioned sesame seed cheeseburger? If there's just something. It's like a comfort here food to me. I don't know why.

All right, that's a. Cheeseburgers are good. Cheeseburgers are delicious.

Yeah.

If you Were to do real estate in one other. One other state, what would it be?

And why Florida? Yeah. Yeah.

Are you doing anything in Florida?

It's booming, and I've done. I've done real estate in Florida. My family. I have family there, and I love the area. I understand the area. It's just. It's. It's kind of a second home because I've had family that's been there for many years, but love.

What part of Florida? What part of Florida?

I'm. I'm a Miami girl, so, you know, give me. Give me that side. Fort Lauderdale, Los Olos, Miami. Those are my. That's. That's the hub where I really am most familiar. Enjoy it. It's fun. Always changing. Little wild.

Their rent. Their rents have gone crazy through the roof. Nuts. Their real estate market's gone absolutely nuts. I mean, they're seeing 30% gains in. In. In rents, which is crazy.

Their biggest problems, they can't fit everybody. Something someone told me. I was just there. I don't know if this is accurate, but I think I heard 2, 000 people a day are moving to Florida.

Yeah. Yeah. That's wild. I was in Brickell a lot this past winter, so it. It's a. It's a cool spot. I love Miami. I agree with you. Sal, Brad, you guys got a question?

The food one was taken. If you could be a fly on the wall for any specific event in history, oh, what would it be? And why?

Oh, my God. That's a really hard one. And, you know, I'm an ex history teacher, so now I'm, like, going through all.

Oh, boy, here we go.

Anything I have to say, it would have something. It would. It would have to be something that. That dealt with Jesus. Like, I really would love to see something that. That from. I have a lot of curiosity behind.

Like, chilling in the corner, watching the last supper or something.

Yeah, Like. Like something that. I really want to know what happened.

You know, Reneg's not sitting in the corner. She's sitting at the table. Are you kidding?

You're like a ghost.

Yeah.

Yeah. Something from a. From. From that. You know, just understanding all of that. That component, you know, I. I feel like I've studied other history enough that that's one that I'm always curious about. I think there's a lot more there than what we know. How about that?

That's super interesting. I would agree with you. I mean, there was a guy that did all this stuff, and we still talk about him on a podcast that nobody listens to. So it's awesome. Renee, thank you so much for doing our show. Again, I can't thank you enough. You're a consummate professional. You're one of the best in the business, and we appreciate you.

My pleasure. Happy to be here. Keep doing what you guys are doing. Let's inform the public. And I love it. We're through this craziness called the real estate world.

I love it. Thank you, Renee. Have a wonderful day.

You too.

Thank you.

All right. Bye. Bye.

Bye.

Bye.

Renee's awesome. Renee is one of the best in the business.

Yeah. For sure.

Yeah.

That is crazy about Florida. 2, 000 people a day.

Yeah, Florida's. Florida's market is. Especially the Miami market, man. It's like, think about your rent year over year has gone up 30% in some spots.

Nuts.

That's. It's really nuts. It's. You know, Florida's seen a lot of gains, especially with COVID People can work from home, and why not work from a tropical space? You know what I mean? Like, why would you work from anywhere else? So.

Right.

It makes sense. So. All right, boys. Well, thank you guys for doing the show with me again. For those of you that are still listening, thank you for making it through the whole show. Please, like, share, subscribe, and hit that notification bell. Give us a review. It really helps us out when you review us. You can find us@irepodcast.com, go to Facebook, forward slash, irepodcast. You go to YouTube or anywhere that your heart desires to listen to a podcast. We should be there. So thank you guys again. We'll see you next week.

Bye.

Bye.

Bye, guys.

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