November 18, 2023 • 53 mins
When it comes to selling your home, wouldn't it be a dream come true to receive a full market cash offer, without the fuss of showings and other complications? Introducing our guest for today, Drew Nicholls from California, who enlightens us on the Cash CPO program, a boon for homeowners who wish to sell their property swiftly and effortlessly. Perfect for situations involving relocation, retirement, or even divorce, this program offers a comprehensive appraisal and inspection of your property, arming sellers with all they need to know about their home's value and potential defects before going to market.
We zoom into the Californian real estate landscape, where Nichols takes us on a journey through the benefits of the Cash CPO program. Amid a market plagued by a lack of inventory and fussy buyers, Nichols sheds light on the ways in which Cache CPO is transforming the scene. The program offers a unique solution, enabling buyers to purchase homes at their full market value, with up to a 70% advance. Cash CPO even takes care of the fronting money for remodeling, empowering sellers to spruce up their abodes and place them back on the market at their prime, reaping all the profits from the resell.
As we converse with Nichols, the significance of viewing the larger economic cycle emerges, and how prices are beginning to slide as we inch closer to the trough. Adding a philanthropic angle to this innovative real estate solution, Nicholls also reveals how the Cash CPO program can be used to pledge proceeds from the sale to various charities. We also delve into the weather and real estate climate in Asheville, North Carolina, and I share some personal messages with you, dear listeners. Be sure to join us to learn more about these riveting real estate trends and programs!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
This is the Plain English Real Estate Show with
your host, rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240 9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
(00:21):
would trust, rowena Patton.
Speaker 2 (00:24):
Alright, good morning .
You've got Patrick Fransen herewith Rowena All Stars here in
Asheville, north Carolina.
You know we're brokered by EXPhere in Asheville, north
Carolina.
I want to welcome everybody.
We're going to have an excitingshow today.
We've got a guest.
(00:45):
He's calling in and has calledin from California, so I'm super
excited about having DrewNichols, who's also with EXP in
California.
We'll start hearing a littlebit about what their market's
doing and, of course, we'llcover some of that cash CPO
program.
I know you guys are anxious tohear about that and so, yes,
good morning.
(01:06):
Good morning, we've got aSaturday morning here in
Asheville.
We've got all kinds of excitingstuff.
It's clearing up a little bit.
I got some blue skies in thebackground and we have our
parade today.
Speaker 3 (01:19):
Randy clearing up just in time for a parade a
Christmas parade, a holidayparade Good morning, Randy.
Speaker 2 (01:25):
Good morning, hey.
Speaker 3 (01:26):
it's good to talk with you, Patrick Good to be
back with you.
Speaker 2 (01:28):
It's an exciting day today.
Speaker 3 (01:30):
Yeah, the annual holiday parade starts at 11
o'clock this morning.
Look for the I Heart Crew thereThere'll be.
There's no telling what they'llbe riding, but they'll be there
because we've seen them aroundhere this morning in the studios
packing up the coffee jugs and,you know, gonna ride in a
parade.
So they're watch for the IHeart Crew today in the parade.
Speaker 2 (01:53):
Yeah, man, I was yesterday.
I was seeing a lot of folksprepare.
I happened to stop by the malland Dillard's was getting their
their float all ready to go andthey were all excited man.
You know, it was just smileseverywhere.
It does.
You know, randy.
It just brings a good feelingwhen you go to the parade and
(02:13):
you see all these kids and olderfolks and just the whole
community together and you runinto somebody that you forgot,
that you loved and, and so nowyou can reconnect with your,
your neighbors.
We've hopefully going to getthrough what the C, o, v, I, d
thing is all in, and so thecommunity.
I've heard that all themerchants are sort of getting
(02:36):
involved with it this year tooand sort of opening up and doing
it earlier in the day and and Ithink it's going to be great
for Asheville.
You know, we we enjoy ourdowntown and we share it with a
lot of people, but this givesthe locals the opportunity to
come down and and get togetherand get involved.
But yeah, so the parade today,it's, it's I don't know it's
(03:03):
going to be a fantastic hotchocolate event Probably.
I would think that you wouldprobably find some pretzels and
some funnel cakes and somestomach aches and some stomach
aches.
But it's so good going down,you can't resist it.
That's a country song.
Speaker 3 (03:22):
Funnel cakes and stomach aches, that's a country
song.
That's a country song.
Speaker 2 (03:25):
Yeah, if we can sing about Applebee's, you know we
can.
We can think about funnel cakes.
We let's see over at the mall.
There's still the, the little,there's a gosh.
What am I trying to say?
Barnum and Bailey.
Speaker 3 (03:46):
A fair, a musical bride?
Yeah, there's some kind oftrapeze artist, something
another going on at the mall.
Speaker 2 (03:53):
That's finishing.
Speaker 3 (03:54):
Asheville Mall.
Speaker 2 (03:55):
Yeah, at the Asheville Mall.
I see the tent still there andthere's still, I don't remember
the name of it, randy, I justassume you know everything.
Speaker 3 (04:02):
Oh, I don't remember either, but you know, you've
seen one.
You've seen one.
Speaker 2 (04:07):
I'm just excited that we're getting out and having
community again.
Yeah, absolutely, and you knowso well.
Listen, let's talk a little bitabout Cash CPO this morning,
folks, and and what it is.
We can help you take advantageof a fantastic program.
You know two out of threesellers get more than a
(04:29):
traditional listing with this.
It's, it's no showings, nohassles.
We make a non contingent offeron your, your home there.
So it's, it's a full marketcash offer with cash CPO.
So if you've got a home thatmight need a little bit of love
here and there, you know you cantake advantage of this cash CPO
(04:50):
program.
It involves all kinds ofdifferent ways of being able to
help you.
So if you've got, you knowdifferent kind of options would
be.
If you're a four sell by owner,you can work with this cash
program.
If you're relocating, if you'reretiring, if it's an estate
you've lost your folks, maybeyou're going through a divorce
(05:13):
you know we've got one right now.
That's working beautifully fora divorce couple and the
communication's been really good.
Our team has been fantasticwith both of them and it's
working out in their favor.
They just relieve a lot ofpressure off of off of
themselves.
So it's, it's bringing smilesto some folks.
I bet they're going to thatparade today.
(05:36):
So cash CPO you know folks, forthe folks that don't know what
cash CPO is is, we bring you afull market offer on your home
and and so you can takeadvantage.
We come out, we'll do the CPOas a certified pre-owned.
So we get an appraisal, we getthe inspections done for you, we
(06:00):
find out what's going on withthe home and you know they'll
pay for the, the inspections andthe appraisals and find out
what your home value is worth.
And then when you come tomarket you're fully educated.
With a, a shined up home, youknow what it's worth and you
know of any defects in the home,whether or not you fixed them
or not.
(06:20):
You know about them and you candisclose those.
Makes it a lot easier not tolose the home.
You know in in real estateabout a third of the
transactions out there fall out.
So you know you want to doeverything you can to prepare
your home to get sold and get tothe closing table.
Well, with cash CPO program, youknow it's a full market value
(06:43):
offer.
You don't have to worry aboutshowing the homes, you don't
have to worry about gettinggetting the dogs out and getting
out of the home and showing,which is a huge hassle,
especially if you maybe you owna home and you're you're, you
have renters in it.
We're working with the rentersto get them in and out and, man,
(07:03):
that's a.
That's something that reallythis program is fantastic.
With you don't have to worryabout moving your renters out of
there to get you know showingson the on the home.
So cash CPO is a fantasticopportunity for anybody.
Even if you've got a beautifulhome ready to go doesn't need
(07:25):
any repair, cash CPO may workfor you.
Maybe you've moved, maybe you'regoing to move, maybe you've
already made an offer on a homeand you need to get that home
sold.
Well, cash CPO will work foryou in a fantastic way of being
able to move you along, get youinto the other home, and then
you get to reap the the windfall, the waterfall effect of of
(07:47):
cash CPO.
So, without further ado though,Randy I'd I'd like to invite
Drew Nichols.
He's from California and he's aEXP realtor there.
Drew, welcome to cash CPOcom,our radio news channel here in
(08:09):
Asheville, North Carolina.
Of course, we broadcast allover, Drew, how you doing today.
Speaker 4 (08:14):
I'm doing great.
I'm doing great Nice to be onwith you and be a part of the
show here.
Looking forward to getting intosome interesting topics.
Speaker 2 (08:23):
Yeah, so it's kind of early there for you.
It's nice and sunny, theweather feeling good and Cali.
Speaker 4 (08:29):
You know it's changing out here.
The leaves are falling, it'spouring rain all night and, yeah
, you guys got me out of bed alittle earlier on Saturday, but
I'm usually a pretty early riseranyway.
Speaker 2 (08:39):
So well, good, well, good.
Well, how?
How's your experience there asas an agent?
How's it been this year for you?
Has it been really active?
Are you finding the?
What's your market doing there?
Is it going up, going downsideways?
Give us a little feel of whatCalifornia is doing.
Speaker 4 (09:00):
Yeah, of course it's definitely been experiencing
some changes.
Covid situation for us exploded.
Our market.
We are just north of the BayArea in Sonoma County, mendocino
County, wine country up thereand you just needed to have a
pulse to sell a house over thelast two years and a license, of
(09:22):
course.
But since then things havechanged a lot, and part of the
issue we're dealing with on bothsides is, yes, there's less
transactions.
We're down about a third yearto date over where we were
volume wise last year.
The other part of that is we'rejust there's still a major lack
(09:44):
of inventory.
There's no homes to buy eitherfrom the perspective of people
aren't wanting to trade their3.5, 4% interest rate for an 7.5
, 8%, and so it's been thisinteresting situation where
we're seeing transactions bedown but supply and demand
(10:08):
becoming a bit of a challengeand also buyers just being a lot
more picky and reserved.
So we've been dealing with someof those challenges and finding
some creative solutions likeCache, cpo to help get us
through on both sides of thosechallenges, for both buyers and
(10:29):
sellers.
Speaker 2 (10:30):
Yeah, man, you know it, and that's what a great tool
to have for your buyers andyour sellers.
You know to be able to.
When you say buyers, you'reproviding buyer with a better
home, because oftentimes we'recoming in with the Cache CPO
program and putting a little bitinto the home.
Well, you know, maybe it needsa new HVAC, maybe it needs a new
(10:50):
roof.
You know, right now we've gotone that we're putting a new
septic system in.
It was just rotted away, youknow, and it happens the home's
50 years old and so we here inour market we've got, you know,
we've got a good amount ofseptic systems.
So you run into that we don'thave a whole lot of access to
public sewer Because of ourterrain being what it is.
(11:13):
It's a.
The infrastructure is growingbut it's not easy to put pipes
in the mountain.
But, that being said, you know,going in and repairing these
homes the CPO program I'mproviding a better home instead
of a war out home and, quitehonestly, what I found is the
(11:34):
interest rate being so high andthe price being so high in our
market because of demand, a lotof people coming here, wanting
to come here, and so it's it'shard to get in there and fix a
home up after you've bought it,because of your strap Especially
for a first-hand buyer.
Speaker 4 (11:53):
I think the other part of that that that we're
seeing out here with it, youknow, prices tightening up and
buyers being a lot moreconservative is is buyers just
lack imagination.
You know us as agents.
We can go in and say, hey, well, if you paint it and you do,
you know, put some newcountertops on here, you'll have
(12:15):
a whole new house.
But with a buyer they don't seethat.
You know they may turn downwanting to write an offer
because they don't like thecolor of one of the rooms.
And so what we're finding toreally help, you know, sellers
kind of overcome, that is, thehouses that are turnkey and are
looking good.
Those are the ones that arestill generating, you know, full
(12:36):
price or over, you knowmultiple offers, but the ones
that that need that work.
But you said where they'regoing to buyers feeling like
they're going to have to comeand spend more money on the
house once they buy it.
That's really presenting somechallenges for for some of our
sellers, and so we've reallybeen able to utilize cash CPO to
(12:58):
not only help them get theirhome sold quickly but also to
help them maximize the value oftheir home and, like you had
said in the beginning, there'seven getting them more money
than they would have if we wouldhave just put it on the market
without improving the home anddealing with that issue of
(13:18):
buyers just having that lack ofimagination and or not having
any of their own budget to fixit up once once they close on
the sale.
Speaker 2 (13:29):
Yeah.
So let's cover a little bitabout that.
You know, with the cash CPOteam you purchase the home at
full market value and then youget the client the seller is
getting up to an advance of upto 70%.
We call that basically stageone, closing, and then cash CPO
(13:53):
comes in and they front themoney, the fresh in the home, up
to remodel it.
Do the little things you know onthis home that I just did.
We painted the whole insidewhite and it just was beautiful.
We came from turquoise andorange and yellow and reds and
dark blues to a fresh home.
Man, it's got wood trim.
(14:13):
It just really pulled it out.
So it took a kitchen that wassort of mixed in a mash of stuff
and it just really made itexplode.
Because then the cabinets Ididn't even realize how pretty
they were, but with the whitewalls, man, it really made it.
So you know, now we've got afresh and up home, we go back to
market with it, the seller.
(14:35):
At this point in time they getall the profits on the resell.
There is about a five to 10%program fee, just depending on
how long it takes to sell,necessarily.
But that's why we freshen it upto give it a chance to go to
market and we know what it'sworth.
We've gotten a praisel.
Now we can add to it and, inour mind, figure out what it is.
(14:57):
Okay, we did these improvementsto the home.
Sometimes improvements just helpit sell, but then sometimes
improvements add value.
So even with the CPO program,if you've got an unfinished
basement and we've got a littlebit of time, hey, listen, let's
go finish that basement out,let's make this thing pop.
If we can add $100,000 of valueto the home, hey, why don't we
(15:20):
do it?
Some situations folks don'thave to get out of the home real
quick, so then we can go aheadand organize getting those fixes
done and even pay them at theclosing the first initial
closing, which in the cash CPOprogram.
That's where it lends theseller the ability to clean up
their home and have a chance tomake a profit.
(15:41):
I don't know, man, it's beengreat for my folks that I'm
helping with.
Now Maybe it's not foreverybody, or, however, I'm
finding that I'm offering it toevery listing I go out to.
What about you, joe?
What are you finding?
Speaker 4 (15:56):
Yeah, I've been doing the same and really using it as
a creative solution for somefolks that are, you know, in
some different positions and andyou know real estate isn't
everybody all the same but youfind everybody has a different
situation.
So some of the great benefitsalso is you know, once you get
that 70, you know percent ofvalue in the home is being fixed
(16:21):
up, cash CPO is helping their,their covering the carrying
costs, you know, between thatpoint and when it goes back on
the market and sells and that'sreally helped a lot of my, my
clients.
Another thing that's been ahuge value is you know if people
are needing to sell their homeand go in and buy another home.
(16:45):
I have a lot of you know folksthat are at the point where
they're looking you know theirhouse is too big and they want
to, you know, move intosomething a little bit smaller
and more manageable.
And you know, as they'rerunning out there, they're not
having to write contingentoffers that are as long or have
(17:06):
as many question marks on them.
You know we're able to get thesecash CPO offers on the table
immediately, get them intoescrow and then we're able to
get them to go out and be ableto write offers on those other
homes that may be a you know alittle bit smaller price tag
than the ones they were selling,but that's what they're looking
for because you know life cansometimes contract as you as you
(17:29):
get older, and sometimesgetting them from A to B
possesses some challenges andcan create some anxiety for the
customer, and so this has been areally great tool to help kind
of alleviate some of thatpressure for them and again
helps us stand out in our marketis just being creative and
(17:50):
finding ways to move the needlefor people that really need help
.
Speaker 2 (17:54):
CPO has brought opportunity for a lot of folks
too, and I'll explain it to youlike this through what I've just
run into recently is I had alady that was moving from
Florida.
Speaker 1 (18:07):
Okay.
Speaker 2 (18:08):
Have you got your home up for sale?
No, but I really want to moveon up there.
I'm ready to go.
So I'm going to get my realtorand we're going to, we're going
to get this house sold.
I said, okay, well, that soundsgreat.
Tell you what.
Would you like to receive acash offer for that home?
Now, of course, I can't presentit, but I've got an agent there
that that can, and do you know?
(18:29):
So we went, we, we got itcreated, we presented an offer
to her, came up here.
We put an offer on a home thatshe wanted up here, that I'd
been shopping with her for, andit gave her the opportunity to
have the money to be able tocome up here and buy.
She didn't own any money onthat home, so she took the 70%.
(18:50):
She carried it up here.
She's in the midst of sellingthe home right now.
It's just going to market.
It really didn't need anyshining.
In fact, she had been hit byHurricane Ian and just got her
own, one of the few that havealready been repaired and
finished, and so she's going tomarket with a shiny place and
(19:13):
there's not really any otherother product out there.
So I'm anxious to hear her sayshe's gotten this old and taking
advantage of that, thatwindfall, that waterfall which
is getting the profits on theresell, which are, you know, if
you look at any other type ofinvestment program, most of the
(19:33):
time they're 50% and then yougot to pay for those repairs out
of your 50% that they paid you.
So it's, those programs can beoften difficult and that's one
of the things that Rowena Sol inthis program and shared now
that has created, and she was,she's the founder of CPO experts
(19:55):
comm, and so with that, youknow, she's created an
opportunity for our whole teamTo reach out all over the United
States.
And it's incredible becausewe've got teams in every state
that offer this CPO program.
So if you're listening andyou're out in Texas, reach out
to our CPO experts comm, thecash CPO program, and We'll find
(20:20):
an agent right there.
On that website you can clickon find an agent.
It will take you to a map ofthe United States.
You click on the state, itdelves in even closer.
So it's, it's becoming anincredible program and you know,
drew, what I've been able to dois come in and I'm going to
listings with an offer in thepocket and, yeah, that's just
(20:43):
that's pretty incredible for meto be able to offer offer folks
right off the bat.
Hey, here's a solution.
You're in a pickle and you knowit's.
It's a way to get people to goahead and come out with that
information, because there'snothing worse than finding out
that they're two months behindon payments and that they go
into proceedings for foreclosurein another 20 days.
(21:06):
Well, you know, at that pointin time it's kind of hard for
the agent to help you get thehouse sold.
Traditionally, you know yourtraditional sale.
You need to get to market.
You get somebody.
You know it takes a couple daysto get the offer right if it's
perfect, and most of the time ifyou hadn't made your payment in
two months, the house hadn'treally been given any love in a
(21:27):
while because you've been in apickle, great.
So you know you're sort ofrunning into a homeless war out
and you need to sell it in 20days.
Well, guess what?
We got cash CPO and if you'renot upside down on your mortgage
, most of the times we can, wecan take that program and use it
to your benefit and in factwe've just helped some folks and
(21:48):
it's it makes you feel goodthat you help somebody save
their credit number one, notruin themselves with a, with a
foreclosure, and Then they havean opportunity to make some
money on it and it's just.
You know it feels good as anagent.
You know we get thrown underbus a little bit here and there,
(22:10):
but we're also busy trying todo so many things, and this cash
CPO is certainly made me busy.
Drew, I don't know about you.
What's going on as far as whichprogram are you Focusing on?
Are you doing more of the foursell by owners?
Are you going for expiredlistings?
Are you dealing with divorceCPO or retirement CPO?
(22:35):
You know we've got the newbuilder CPO com program too.
Speaker 4 (22:37):
Yeah, as of now, we've really been helping a lot
of the fizz bows expired and ingeneral, you know listings that
were going on where the programjust makes a lot of sense.
You know, I had a lady who whohad inherited a house and you
know she lived two and a halfhours away and the house
(22:58):
happened to be in our house weworked on and so you know she
had tried it as a four sale byowner was thinking about listing
it.
You know, I went by and lookedat it and and it was just such a
perfect match for this, forcash CPO and the opportunity, in
that, you know, the house justneeded a little paint, some
(23:20):
countertops and a little bit oflove in order to really not only
just be more sellable but havea little bit of love, in order
to really not only just be moresellable but have some value
Added.
And this lady is trying tofigure out where she's going to
get the money, how she's goingto get here from out of town To
make it work, and it was justlogistically a nightmare for her
(23:43):
and that was right.
You know one of my first dealsthat I started doing with cash
CPO, where it was Well, hey,here's a solution for you where
you can get your money right nowbecause it turned out she had
already, out of her pocket, paidsome of the other errors, the
money, and then she was going toreclaim that money when she
(24:05):
sold the house and we're dealingwith a market that hasn't had
any major, you know, down turnas far as price goes, but we're
definitely Cheatering on an edgehere.
From the regards of, you know,time is of the essence.
The longer that asset Sits emptywith nobody taking care of it,
(24:25):
in a market where we're seeinginterest rates go up and things
change, you're, you're more andmore at risk.
She was more at risk everysingle day from the situation
she was in, and so when webrought her the offer, you know
not only did that help Make herflesh with what she had already
been for out of pocket, but italleviates the problem of her
now having to, you know,basically move to the area for a
(24:50):
short period of time and try tofind people to do work in an
area that she's not familiarwith.
You know, the program helped tohandle all that for her and
that Actually turned out to be areally good situation and, like
you just said, it's nice tohelp people, it's nice to be
able to think outside of the boxwith programs like this that
you know some other agents don'teven know exist and have access
(25:13):
to, in order to just help goodpeople make good things happen
for themselves and, you know,provide a nice home for a future
buyer as well.
Yeah, man, you know.
Yeah, you're exactly right.
Speaker 2 (25:27):
You just said it, this is not your average.
You know traditional Listingit's not your traditional
transaction, but it is somethingthat can help you and help the
community, like I touched onbefore.
You know, you and I, as listingagents, are bringing a home
that's shined up a little bitbetter.
(25:48):
It's going to last your newbuyer A lot longer more, more
time of a life for a home, witha new roof if it needed one, or
a new hvac or Maybe addfoundation problems.
You know we're here in themountains, we got a lot of
moving parts here and homes,homes tend to slide down the
hill a little bit after about 50years.
(26:10):
So we have structural stuff.
I've become very I've become astructural expert, although I'm
not a structural engineer.
I can see that a big giantcrack going through the
foundation or up the foundationwall Might be an issue.
But you know so.
You know, fixing those kind ofthings coming back to To the
market with a shined up home Isnot the traditional way of
(26:34):
necessarily doing it.
And and you said it, you know,coming through covid it was
pretty easy.
You could just pretty much laythere and have a deal right.
So it it's funny.
But now you're having to sortof understand the market and
you're having to understandhaving empathy for folks and
(26:55):
understand where they're comingfrom and delving into it.
And that's one of the thingsthat cash cpo has helped me
Understand and and sort of comeback in to what a normal market
you know we're.
We're Getting closer to towhere you've got a little bit of
a ability to negotiate.
You know homes are staying onthe market a little bit longer.
Here my folks are actuallyhaving opportunities To be able
(27:19):
to buy.
You know we're not goingthrough the five contracts and
missing out on homes and and youknow, losing out to highest and
best, just never know what thehighest and best offer is.
But so it's getting getting tobe a little bit, a little bit
(27:39):
more normal.
You know, clemente, hugh GlarCame up with the economic cycle
Back in 1860 and about every 10years we go through dips, highs
and dips.
So you can see that chart thereon cpo expertscom and what it
shows is that we're going sortof out of the peak.
(28:01):
You know, 20, 21, 2022, we wereat a peak with the rates being
at three To five, and so then atthe beginning of this year,
when the rates started going,you know, we started seeing it
taper off.
We're coming off of the peakand we're heading towards the
(28:22):
trough and it's going to be acouple years.
You know we're going into anelection year.
Things are sliding a little bit.
Prices are sliding Becausesellers are realizing, hey, I
need to drop the price a littlebit before they even come to
market, so I'm not coming.
I don't see folks coming tomarket with that high price and
actually getting it.
They're.
They're considering okay, we'regonna take a little lower price
(28:45):
because we know the market'scoming down.
We can feel it.
The the internet is telling me,the newspapers are telling me,
the radio is telling me so Ibetter listen.
So I've got some folks there,you know, realizing that not
going to get that big crazyprice right now Because people
are paying the interest rate andthe cost of money is gone up
and so you know, the sellers arecoming off of it a little bit
(29:07):
and they're realizing that, hey,higher interest rates, higher
payments, people can't affordthat.
500.
Somebody that was 500 inFebruary is now 400 and November
.
So you know, as far as theirpayment, if they're a payment
person, which is 95% of thefolks out there, they're a
(29:28):
payment person, so they'rewanting to pay attention to what
they're paying a month to live.
And that has creeped up.
A lot drew here and in WesternNorth Carolina and I'm sure
there in California, in the BayArea, sonoma County it's it's
gone up as well.
Speaker 1 (29:43):
Everybody out there in this land we're.
Speaker 2 (29:45):
We're talking with Drew Nichols here.
He's.
He's from the California market, he's with exp and he's taken a
really good opportunity herewith cash, cpo and and he's
created success.
And he's on the radio here withus today to sort of help share
what nationwide is sort of goingon.
So we're on the other coast,the left coast, and Figuring out
(30:10):
what what's going on with theirmarket.
Drew.
Thank you for getting on theradio with us.
Tell us a little bit more.
Speaker 4 (30:19):
Yeah, absolutely.
Thanks for having me.
So, yeah, I have a real estateteam that I run here in Sonoma
County, in Mendocino County,just at the far end of the North
Bay Area, and, like you said,our, our cost of living out here
is is Definitely Going up.
You know, the grocery bills,the gas pumps all of those are
(30:40):
are definitely something thateverybody's feeling and that
isn't impacting people.
And so you know, a lot of whatwe're looking to do and do on a
daily basis is we just we'rejust helping, you know, not just
sell homes homes are sellingthemselves but we're consultants
and we're helping consultpeople about what their options
(31:00):
are to help them sell their homeand so maximize that value.
And so you know, if you'reinterested in learning more, you
can go to soldbydrewcom sold byDrew nickel and learn more.
But for us it's really aboutServing people in a way that's
helping get their home soldquicker and faster and for more
(31:24):
money.
Then what some other agents areable to do out there, because
they're not connected and don'tunderstand these programs that
we're talking about today, likecash CPO or divorce CPO and
these different solutions thatare out there.
It's, it's required now in thistype of market that the agent
you choose to work with knowsthat these programs exist, knows
(31:48):
if they're right for you andthen knows how to utilize them
for you to take advantage, youknow, in the way that's possible
based on your current marketconditions.
And so that's a lot about whatwe've been doing out here and
shifting business, because youknow we're still running a
business and advising agents youknow the way we were six months
(32:12):
ago would be doing them a greatdisservice.
You're right on the money, inregards that Purchasing power
has gone down.
You know people's People'sability to offer more has gone
down because that has beensucked up by the higher interest
rate, and so people are notonly in a position where they
(32:33):
can't offer as much, but they'realso just becoming a little bit
more selective.
So you know the houses that arefetching the premiums in our
area, the top dollars, the overaskings, those are turnkey.
Yeah, those are where you knowthe buyers are going.
Okay, we can move in here in,the drop our suitcases and
(32:54):
unpack our boxes, and wherewe're living, you know I don't
have to paint and put you know,five, six thousand dollars into
carpet and and you know all ofthose things and so those
positioning our homes, oursellers homes, to be that
property in this market andutilizing cash CPO as a way to
(33:15):
Do that has been extremelypowerful and it's it's how we're
helping people still really getTop dollar for their home in
our marketplace.
Speaker 2 (33:24):
Yeah, buyers and buyers agents prefer a home that
is turnkey.
You know if it needs paintingor deep clean or a new roof.
You know I as a buyers agent,my buyer doesn't have time to
deal with that, you know she's.
She's not one of a mess withthat.
I've got someone right nowshe's a single.
(33:45):
Well, she works at bill morehere and she works 50 hours a
week.
She can't go and take care ofputting a roof on that and make
sure it's done right andprobably doesn't really
understand it a whole lot either.
So that scares her.
She doesn't want to run to ahouse that needs repair.
And that's one of the nicethings about this cash offer
(34:05):
that we bring you.
You know, compared to otherInvestor programs that are out
there and other groups, you knowyou get, maybe you get a 65%
offer and that's, that's just in.
You're in an area that's reallyexploding or something.
But you know then you have topay for your own repairs out of
that money and with cash CPO, Ofcourse you don't go through any
(34:28):
of that.
Let them take care of theheadaches.
They have a project managerthat holds your hands.
Let's you decide on what youwant to repair, what you want to
budget, go out and help youfind those repairmen, and we're
all looking for the best price.
We actually have created somany relationships with our cash
CPO program.
I've got incredible Folks thatare helping me right now and
(34:53):
I've just been impressed withthe pricing I've been getting
has been really good too.
So, um, you know I'm I'mfinding that the, as the market
is shifting, you know my workerguys aren't as busy as they were
.
You know it's.
It's kind of nice because I'mable to get something done
fairly quickly right now.
Now, of course, we've gotrelationships to where we're
(35:15):
feeding these folks all the time, so maybe we do get a little
bit of preferential treatment ontiming, because they know as,
as real tours, we're trying toget that house back on the
market and we're kind of underthe gun a little bit to not sit
on our hands, and so we're we'reactive, we're pushing to get
(35:35):
that house to market and so withthe, the cash CPO program, it's
been really great.
You don't have to come out ofyour pocket for these repairs
until after what I'll call the.
You know, there's the initialclosing and that's kind of
staying there until you get thecash CPO and that's kind of
(35:55):
stage, one of your, of yourclosing transactions.
But then on the secondtransaction is when you would
pay for those repairs out of thecell of the home.
So it's, it's a great program.
You know I've often had otherinvestors say, man, that's, I
don't know about this program,this is kind of risky.
Well, our buyer is doing this3000, 4000 homes this year and
(36:21):
uh, you know that's prettypowerful when you're able to do
that amount of transactions.
So you know they're not tryingto make a big windfall, they're
certainly not trying to hold onto your home either.
They don't want the home.
They've never kept a home.
They've sold every home thatthey've ever worked with in the
cash CPO program.
So you know it's a, it's anopportunity to where they use
(36:47):
their program fees to make theirengine turn and they know what
they're going to pull out of it.
It's not a get quick, get richquick scheme on one house.
They do a lot of homes.
So I don't know, man, I'm sofantastically thrilled to be
able to offer this to my peopleand I feel really good about it.
(37:07):
I've worked with the teams,with the CPO experts Everyone
holds your hand.
I've gotten answers in everyturn.
So it's, it's been reallyphenomenal for me.
Well, rowena has really put afantastic program together with
CPO experts and it's justspreading like wildfire.
(37:28):
And it's because people realizethat Getting a full market cash
offer and being able to closein 12 days is a necessity for
some folks right now.
And then you have opportunityto make money on your home.
To make money on your home whenbefore you didn't.
So it's, it's a way you knowI've, you know what's happened
(37:52):
to me recently, as I've had somefolks say well, listen, we
don't, we don't care about theback end, we just want money and
we want to go.
Okay, well, let's talk aboutthat money, because there's
money on the backside, um, cash,cpo and wanting to keep that
money.
So you can donate that money,and we've just now.
You know there's a programcalled tunnel to towers and uh,
(38:16):
so now you can.
You can give it to the veterans.
They'll use that money to buy ahome.
You can Donate it to whoeveryou would like, those profits
that come with that windfall.
So, drew, what else are youfinding in your market?
The folks that you're helpingwith the CPO program?
Speaker 4 (38:37):
Well, I think the other part of it that's been
helpful is for us as people whohave tried to sell their home
and weren't successful.
We refer to those as expiredlistings, but really those are
just, in my opinion, people thateither didn't get good advice
(39:01):
or didn't take good advice,because every home will sell.
It's just a matter of findingthe right path for the right
home and where the buyers areand having the market match that
.
As we go in our meeting withsome people who had tried to
sell their home, they're alittle bit frustrated.
They don't know why it didn'tsell.
(39:21):
Like I said a lot of times,we're noticing that there's
specific issues with the homethat aren't necessarily big
issues, but maybe that they'renot aware of or they don't have
the ability to addressthemselves.
That's preventing them frombeing able to move on, get the
home sold and get on to thatnext chapter in their life.
(39:44):
Again, they don't even knowthat a program like this exists
that helped them solve theirproblems.
Their previous agent might nothave even been aware that that's
the case when we come in andreally meet with people and not
just try to be flashy and fancy,but really get in there and
(40:04):
have a conversation with themabout what their needs are, why
they want to sell, what theirlife is like.
If they have to stay in thehome for a longer period of time
and really dig in deep aboutwhat's going on, we're finding
that we're able to createsolutions for them to be able to
move on.
(40:27):
That's been incrediblybeneficial to a lot of people
who even tried to sell theirhome at a time when the market
was better and couldn't get itdone and feel like they missed
out on an opportunity there andhad some frustrations with their
previous agent or just didn'tunderstand why their home wasn't
(40:50):
selling.
And we've been able to utilizecash CPO with those types of
sellers to really get in andprovide some clarity on what's
going on, why their home hasn'tsold and how we can help fix
those issues to get the propertysold and let them know they're
going to get an offer at a fullappraised value, the full market
(41:14):
value of their home.
They're going to be receivingan offer on that and that
provides them with a lot ofinsight and clarity on their
specific situation.
And so, again, it's thinkingoutside the box and providing
opportunity in a way that otheragents and people in the market
(41:36):
just didn't understand waspossible and available, and
shining that light on thepossibilities and the programs
that are out there for people.
It's just something that'sreally.
It's really helped and it'sreally helped us stand out in
our marketplace.
Like you said, when we show upwith an offer for full market
(42:02):
value on day one, they alreadyknow that they're maybe talking
to somebody who's a littledifferent, thinking a little
different, and maybe actuallyhave some solutions to help them
get from where they are towhere they want to be.
And that's what's what I enjoydoing every day.
Speaker 2 (42:20):
That's right.
So how it works, folks outthere and in Radio Land is you
would receive a cash offer onyour home for up to 74, 70% of
the market value, and that wouldbe within 12 days.
You'd get a full market valuecash offer within 24 hours.
So all we need to do is justcome out to your home, we'll
(42:44):
take a peek at it.
We'll get that offer to youwithin 24 hours.
The next step would be to youknow, cash CPO or cash CPO team
would work with vendors and makethe necessary updates to your
home, from new paint, new roof,landscaping, everything,
whatever in between it.
We would improve the home andthen we you and I, as listing
(43:09):
agents we'd get to work onlisting your home and then
receive a top dollar offer.
Once we receive that offer andonce your home sells, you get to
keep the upside, which is, youknow, two thirds of the sellers
make more than they would on atraditional home sell.
And because on the traditionalhome sale you got to minus out
(43:32):
all those repairs and, you know,on a traditional home sale you
probably didn't do an inspection, you probably didn't do an
appraisal, so you're coming intoa situation where you're making
a lot less in that traditionalhome sale than than if you would
have fixed it up with this cashCPO program.
Bring it to market with adecent home that's signed up and
(43:53):
right now you're able to letcash CPO take care of the
headaches repair take care ofthe headaches and negotiation.
Take care of the the showingheadaches.
You know moving all your stuffout.
You know you avoid the pro, thetraditional home sales process.
With cash CPO you don't haveany showings.
(44:14):
You're not living through ahome prep mom mopping the floors
, vacuuming, getting ready.
This is especially valuable andif you have pets and family and
everybody's having to clear outand you got to put the dogs in
the car and anyway, with cashCPO you get to move on.
Right now you get to make offerson other homes.
You don't have to have acontingency of your home needs
(44:37):
to sell and non contingentoffers often are much more
desirable for a seller Right now.
You know they're probablylooking at it a little bit but
it's not something they want todo.
So you know you unlock yourfunds, you unlock your equity in
the first transaction and youcan do that in as little as 12
(45:00):
days.
You've got your money in yourpocket and then after we relist
the home, you know you get paidout within three days of that
home closing the windfall, anyof the profits that, after we
minus the repairs, the programfee, which is often five to you
know nine, 10% is typical whatwe have found.
(45:20):
It'd be 5% if we sold the homewhen it went to market.
If it sits on the market formaybe two, three months, then
it'd be closer towards the eight, eight percent on their program
fee, which is simply a carryingfee.
So I've not found a betterprogram when it really relieves
(45:43):
a lot of folks, where you canmake more than the traditional
way of selling a home and youdon't have to worry about the
showings, you don't have toworry about getting the house
ready.
Let this CPO expert team getyou taken care of and we'll
bring you a full market cashvalue Based on your appraisal,
which they have done within acouple of days.
(46:03):
They get an inspection donewithin a couple of days so that
they know what's going on withthe home.
These are repairs that we needto have taken care of.
We're being upfront and honestabout the home.
This is what we know.
Let's matter with the home andit's a lot easier to sell a home
when there's not any mystery asas drew.
You know that right.
Speaker 4 (46:25):
That's correct.
We want to solve thesemysteries before we go to market
.
Speaker 2 (46:32):
Yeah, and that's what we do we, you and I we we delve
in there and we find thesemysteries, we find the problems
and and help you go to market.
And as a buyer or a buyer'sagent which I am also it sure is
nice when I've got an upfront,honest agent over there that
feels good about their productand they're sharing every little
thing about it.
(46:52):
You know that that brings a lotof comfort for me because, well
, I've got somebody that I got,that I've got here and I care
about them and I want them tohave the best home they possibly
can and I don't want to putthem into a situation where it
needs a new Roofer, new HVAC.
They want to turnkey.
Turnkey is the key.
(47:13):
So that's what this cash CPOprogram provides.
That's what I've found anyway,and it's it's it's helping
people and I'm a big proponentof it.
And I know why Rowena reachedout and and created this program
.
You know she's the foundingperson for this and and is
Really put together a awesomeprogram.
(47:33):
So I'm so proud of her workingovertime all the time Putting
this program together.
I don't know how she does it,but I'm thankful to be working
with her because she sure makesit fun for me.
Yeah, she's amazing, I don'tknow.
You get to sit with her everyonce in a while.
You get to see all the videosand everything that she's
provided to to understand thisfull cab, this full market value
(47:57):
Cash offer that we have, and tobe able to let our buyers and
our sellers know you knowprecisely, with confidence of
what the program provides, andwe cover all of them from
bankruptcies, save you from aforeclosure, divorce, foresell
by owners.
If you're going into arelocation situation, you need
(48:19):
your money to go find a house inAsheville, north Carolina.
If you're coming here, give mea call, I'll communicate with
you.
Wherever you're at, we can getyou a cash CPO offer on your
home, and that's what's sotremendous about this.
It's offered in every state ofthe United States and it's a
true, truly great program, andI'm so thrilled to be part of
(48:41):
cash CPO experts.
You know we're certifiedpre-owned Home experts, so we've
gone through all this trainingthat's there to really help you
the, the buyer and the sellerget the best product out there.
So if you're going to beselling your home, I understand
how to get your home sold andthat's why you want to come to
(49:01):
our cash CPO program.
Go to CPO experts comm.
You can find that agent and youcan find anyone in any state.
And then if you're an agent outthere and you want to learn
about this program and how totake advantage of being a cash
CPO, it's out there, it'savailable.
You can go to the CPO expertscomm as well.
And drew.
(49:22):
I want to thank you for gettingon the phone so early over
there in California and andsharing your expertise and your
Experiences of what yourmarket's doing there and then
also working with us.
Man trading leads back andforth and referring folks that
are coming from California andand and going to Western North
Carolina and vice versa, so it'sbeen a thrill to to share this
(49:45):
time with you this morning.
Speaker 4 (49:49):
All right, sir.
Thank you for having me on.
The pleasure has been all mine,Happy to get on with you guys
anytime and, yeah, cash CPO hasreally Changed my business and
helped changing the lives of alot of the sellers and buyers
that I'm working with, and, yeah, I want to express that
gratitude.
So thank you very much forhaving me.
Speaker 2 (50:07):
You got it drew.
Thank you for coming on and andfolks out there, we want to
share with you CPO.
So if you want to go to CPOexperts, comm and check that out
, it's a great way to get yourhome fresh and up, not use your
funds.
Be able to take advantage ofthis program and get your home
sold.
It's been a huge success.
(50:28):
And they don't.
They don't keep homes.
They've sold every home They'veever been involved with.
So it's a way to get your homesold.
Know what the value is, knowwhat the problems with the homes
are, get them freshened up,cleaned up.
Be in control of all thefreshening and and cleaning up
and and take advantage of thiscash CPO program.
(50:52):
For my listeners out there inthe Asheville area, going out to
the parade is getting ready tostart in a couple of minutes.
You guys it's it's gonna be agreat day to get out there and
see these local Families and inyour friends there in downtown
Asheville.
So so go check out the paradeand See all the exciting stuff
(51:15):
going on there as well.
And I want to thank everybodyfor listening to the real estate
radio show here on on FoxWestern North Carolina WNC.
It's been phenomenal.
Thank you for listening to ourprogram, randy.
You're always incredible.
I really appreciate you.
What do you think the weatheris going to do today?
(51:36):
It's not supposed to doanything, but get more pretty,
right.
Speaker 3 (51:39):
You got it.
It's gonna be a beautiful day.
We are, let's see.
We've got a high temperature ofabout 65 expected today and
Again tomorrow.
Maybe Tomorrow night, mondayand the Tuesday, we get some
much needed rain Around here.
(52:00):
I always say on the radio weare in a Really drought
situation.
Forest fire danger is high.
I understand through the PigeonRiver Gorge down I-40, it's
Virtual war zone.
This morning all thosewildfires burning I call it the
black bear wildfire.
(52:20):
So be careful, just don't doany kind of outdoor burning at
all and keep your butts in thecar.
If you're a smoker, don't throwa cigarette butt out the window
.
Keep your butts in the car.
You got that.
Speaker 2 (52:35):
Yeah, and folks, you know I've got a new listing out
there.
It's 218 potato branch.
It's out in Lester.
It's a three bedroom, threebath home.
It's incredible.
It's listed at 499 and we'vegotten it sharpened up and it's
looking Beautiful.
So do take a look at that, getwith your agent or, if you want
to, you can, of course, call usover at all-star powerhouse.
(52:58):
You can look online too atmountain home hunt calm and go
to our listings and you'll findthat home at 218 potato branch.
And you know you can also gothere to the mountain home hunt
calm and you can find out what'smy home worth and there's a
value program there.
You guys have a fantastic day.
(53:19):
Call your friends and family,hug them, tell them you love
them and have a wonderful,wonderful time.
Speaker 1 (53:34):
This has been the plain English real estate show
with Rowena Patton.
Visit Rowena and post yourquestions at radio Ashville comm
or call her at 828 210 1648.
This is the Plain English Real Estate Show with
your host, rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240 9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
(00:21):
would trust, rowena Patton.
Speaker 2 (00:24):
Alright, good morning .
You've got Patrick Fransen herewith Rowena All Stars here in
Asheville, north Carolina.
You know we're brokered by EXPhere in Asheville, north
Carolina.
I want to welcome everybody.
We're going to have an excitingshow today.
We've got a guest.
(00:45):
He's calling in and has calledin from California, so I'm super
excited about having DrewNichols, who's also with EXP in
California.
We'll start hearing a littlebit about what their market's
doing and, of course, we'llcover some of that cash CPO
program.
I know you guys are anxious tohear about that and so, yes,
good morning.
(01:06):
Good morning, we've got aSaturday morning here in
Asheville.
We've got all kinds of excitingstuff.
It's clearing up a little bit.
I got some blue skies in thebackground and we have our
parade today.
Speaker 3 (01:19):
Randy clearing up just in time for a parade a
Christmas parade, a holidayparade Good morning, Randy.
Speaker 2 (01:25):
Good morning, hey.
Speaker 3 (01:26):
it's good to talk with you, Patrick Good to be
back with you.
Speaker 2 (01:28):
It's an exciting day today.
Speaker 3 (01:30):
Yeah, the annual holiday parade starts at 11
o'clock this morning.
Look for the I Heart Crew thereThere'll be.
There's no telling what they'llbe riding, but they'll be there
because we've seen them aroundhere this morning in the studios
packing up the coffee jugs and,you know, gonna ride in a
parade.
So they're watch for the IHeart Crew today in the parade.
Speaker 2 (01:53):
Yeah, man, I was yesterday.
I was seeing a lot of folksprepare.
I happened to stop by the malland Dillard's was getting their
their float all ready to go andthey were all excited man.
You know, it was just smileseverywhere.
It does.
You know, randy.
It just brings a good feelingwhen you go to the parade and
(02:13):
you see all these kids and olderfolks and just the whole
community together and you runinto somebody that you forgot,
that you loved and, and so nowyou can reconnect with your,
your neighbors.
We've hopefully going to getthrough what the C, o, v, I, d
thing is all in, and so thecommunity.
I've heard that all themerchants are sort of getting
(02:36):
involved with it this year tooand sort of opening up and doing
it earlier in the day and and Ithink it's going to be great
for Asheville.
You know, we we enjoy ourdowntown and we share it with a
lot of people, but this givesthe locals the opportunity to
come down and and get togetherand get involved.
But yeah, so the parade today,it's, it's I don't know it's
(03:03):
going to be a fantastic hotchocolate event Probably.
I would think that you wouldprobably find some pretzels and
some funnel cakes and somestomach aches and some stomach
aches.
But it's so good going down,you can't resist it.
That's a country song.
Speaker 3 (03:22):
Funnel cakes and stomach aches, that's a country
song.
That's a country song.
Speaker 2 (03:25):
Yeah, if we can sing about Applebee's, you know we
can.
We can think about funnel cakes.
We let's see over at the mall.
There's still the, the little,there's a gosh.
What am I trying to say?
Barnum and Bailey.
Speaker 3 (03:46):
A fair, a musical bride?
Yeah, there's some kind oftrapeze artist, something
another going on at the mall.
Speaker 2 (03:53):
That's finishing.
Speaker 3 (03:54):
Asheville Mall.
Speaker 2 (03:55):
Yeah, at the Asheville Mall.
I see the tent still there andthere's still, I don't remember
the name of it, randy, I justassume you know everything.
Speaker 3 (04:02):
Oh, I don't remember either, but you know, you've
seen one.
You've seen one.
Speaker 2 (04:07):
I'm just excited that we're getting out and having
community again.
Yeah, absolutely, and you knowso well.
Listen, let's talk a little bitabout Cash CPO this morning,
folks, and and what it is.
We can help you take advantageof a fantastic program.
You know two out of threesellers get more than a
(04:29):
traditional listing with this.
It's, it's no showings, nohassles.
We make a non contingent offeron your, your home there.
So it's, it's a full marketcash offer with cash CPO.
So if you've got a home thatmight need a little bit of love
here and there, you know you cantake advantage of this cash CPO
(04:50):
program.
It involves all kinds ofdifferent ways of being able to
help you.
So if you've got, you knowdifferent kind of options would
be.
If you're a four sell by owner,you can work with this cash
program.
If you're relocating, if you'reretiring, if it's an estate
you've lost your folks, maybeyou're going through a divorce
(05:13):
you know we've got one right now.
That's working beautifully fora divorce couple and the
communication's been really good.
Our team has been fantasticwith both of them and it's
working out in their favor.
They just relieve a lot ofpressure off of off of
themselves.
So it's, it's bringing smilesto some folks.
I bet they're going to thatparade today.
(05:36):
So cash CPO you know folks, forthe folks that don't know what
cash CPO is is, we bring you afull market offer on your home
and and so you can takeadvantage.
We come out, we'll do the CPOas a certified pre-owned.
So we get an appraisal, we getthe inspections done for you, we
(06:00):
find out what's going on withthe home and you know they'll
pay for the, the inspections andthe appraisals and find out
what your home value is worth.
And then when you come tomarket you're fully educated.
With a, a shined up home, youknow what it's worth and you
know of any defects in the home,whether or not you fixed them
or not.
(06:20):
You know about them and you candisclose those.
Makes it a lot easier not tolose the home.
You know in in real estateabout a third of the
transactions out there fall out.
So you know you want to doeverything you can to prepare
your home to get sold and get tothe closing table.
Well, with cash CPO program, youknow it's a full market value
(06:43):
offer.
You don't have to worry aboutshowing the homes, you don't
have to worry about gettinggetting the dogs out and getting
out of the home and showing,which is a huge hassle,
especially if you maybe you owna home and you're you're, you
have renters in it.
We're working with the rentersto get them in and out and, man,
(07:03):
that's a.
That's something that reallythis program is fantastic.
With you don't have to worryabout moving your renters out of
there to get you know showingson the on the home.
So cash CPO is a fantasticopportunity for anybody.
Even if you've got a beautifulhome ready to go doesn't need
(07:25):
any repair, cash CPO may workfor you.
Maybe you've moved, maybe you'regoing to move, maybe you've
already made an offer on a homeand you need to get that home
sold.
Well, cash CPO will work foryou in a fantastic way of being
able to move you along, get youinto the other home, and then
you get to reap the the windfall, the waterfall effect of of
(07:47):
cash CPO.
So, without further ado though,Randy I'd I'd like to invite
Drew Nichols.
He's from California and he's aEXP realtor there.
Drew, welcome to cash CPOcom,our radio news channel here in
(08:09):
Asheville, North Carolina.
Of course, we broadcast allover, Drew, how you doing today.
Speaker 4 (08:14):
I'm doing great.
I'm doing great Nice to be onwith you and be a part of the
show here.
Looking forward to getting intosome interesting topics.
Speaker 2 (08:23):
Yeah, so it's kind of early there for you.
It's nice and sunny, theweather feeling good and Cali.
Speaker 4 (08:29):
You know it's changing out here.
The leaves are falling, it'spouring rain all night and, yeah
, you guys got me out of bed alittle earlier on Saturday, but
I'm usually a pretty early riseranyway.
Speaker 2 (08:39):
So well, good, well, good.
Well, how?
How's your experience there asas an agent?
How's it been this year for you?
Has it been really active?
Are you finding the?
What's your market doing there?
Is it going up, going downsideways?
Give us a little feel of whatCalifornia is doing.
Speaker 4 (09:00):
Yeah, of course it's definitely been experiencing
some changes.
Covid situation for us exploded.
Our market.
We are just north of the BayArea in Sonoma County, mendocino
County, wine country up thereand you just needed to have a
pulse to sell a house over thelast two years and a license, of
(09:22):
course.
But since then things havechanged a lot, and part of the
issue we're dealing with on bothsides is, yes, there's less
transactions.
We're down about a third yearto date over where we were
volume wise last year.
The other part of that is we'rejust there's still a major lack
(09:44):
of inventory.
There's no homes to buy eitherfrom the perspective of people
aren't wanting to trade their3.5, 4% interest rate for an 7.5
, 8%, and so it's been thisinteresting situation where
we're seeing transactions bedown but supply and demand
(10:08):
becoming a bit of a challengeand also buyers just being a lot
more picky and reserved.
So we've been dealing with someof those challenges and finding
some creative solutions likeCache, cpo to help get us
through on both sides of thosechallenges, for both buyers and
(10:29):
sellers.
Speaker 2 (10:30):
Yeah, man, you know it, and that's what a great tool
to have for your buyers andyour sellers.
You know to be able to.
When you say buyers, you'reproviding buyer with a better
home, because oftentimes we'recoming in with the Cache CPO
program and putting a little bitinto the home.
Well, you know, maybe it needsa new HVAC, maybe it needs a new
(10:50):
roof.
You know, right now we've gotone that we're putting a new
septic system in.
It was just rotted away, youknow, and it happens the home's
50 years old and so we here inour market we've got, you know,
we've got a good amount ofseptic systems.
So you run into that we don'thave a whole lot of access to
public sewer Because of ourterrain being what it is.
(11:13):
It's a.
The infrastructure is growingbut it's not easy to put pipes
in the mountain.
But, that being said, you know,going in and repairing these
homes the CPO program I'mproviding a better home instead
of a war out home and, quitehonestly, what I found is the
(11:34):
interest rate being so high andthe price being so high in our
market because of demand, a lotof people coming here, wanting
to come here, and so it's it'shard to get in there and fix a
home up after you've bought it,because of your strap Especially
for a first-hand buyer.
Speaker 4 (11:53):
I think the other part of that that that we're
seeing out here with it, youknow, prices tightening up and
buyers being a lot moreconservative is is buyers just
lack imagination.
You know us as agents.
We can go in and say, hey, well, if you paint it and you do,
you know, put some newcountertops on here, you'll have
(12:15):
a whole new house.
But with a buyer they don't seethat.
You know they may turn downwanting to write an offer
because they don't like thecolor of one of the rooms.
And so what we're finding toreally help, you know, sellers
kind of overcome, that is, thehouses that are turnkey and are
looking good.
Those are the ones that arestill generating, you know, full
(12:36):
price or over, you knowmultiple offers, but the ones
that that need that work.
But you said where they'regoing to buyers feeling like
they're going to have to comeand spend more money on the
house once they buy it.
That's really presenting somechallenges for for some of our
sellers, and so we've reallybeen able to utilize cash CPO to
(12:58):
not only help them get theirhome sold quickly but also to
help them maximize the value oftheir home and, like you had
said in the beginning, there'seven getting them more money
than they would have if we wouldhave just put it on the market
without improving the home anddealing with that issue of
(13:18):
buyers just having that lack ofimagination and or not having
any of their own budget to fixit up once once they close on
the sale.
Speaker 2 (13:29):
Yeah.
So let's cover a little bitabout that.
You know, with the cash CPOteam you purchase the home at
full market value and then youget the client the seller is
getting up to an advance of upto 70%.
We call that basically stageone, closing, and then cash CPO
(13:53):
comes in and they front themoney, the fresh in the home, up
to remodel it.
Do the little things you know onthis home that I just did.
We painted the whole insidewhite and it just was beautiful.
We came from turquoise andorange and yellow and reds and
dark blues to a fresh home.
Man, it's got wood trim.
(14:13):
It just really pulled it out.
So it took a kitchen that wassort of mixed in a mash of stuff
and it just really made itexplode.
Because then the cabinets Ididn't even realize how pretty
they were, but with the whitewalls, man, it really made it.
So you know, now we've got afresh and up home, we go back to
market with it, the seller.
(14:35):
At this point in time they getall the profits on the resell.
There is about a five to 10%program fee, just depending on
how long it takes to sell,necessarily.
But that's why we freshen it upto give it a chance to go to
market and we know what it'sworth.
We've gotten a praisel.
Now we can add to it and, inour mind, figure out what it is.
(14:57):
Okay, we did these improvementsto the home.
Sometimes improvements just helpit sell, but then sometimes
improvements add value.
So even with the CPO program,if you've got an unfinished
basement and we've got a littlebit of time, hey, listen, let's
go finish that basement out,let's make this thing pop.
If we can add $100,000 of valueto the home, hey, why don't we
(15:20):
do it?
Some situations folks don'thave to get out of the home real
quick, so then we can go aheadand organize getting those fixes
done and even pay them at theclosing the first initial
closing, which in the cash CPOprogram.
That's where it lends theseller the ability to clean up
their home and have a chance tomake a profit.
(15:41):
I don't know, man, it's beengreat for my folks that I'm
helping with.
Now Maybe it's not foreverybody, or, however, I'm
finding that I'm offering it toevery listing I go out to.
What about you, joe?
What are you finding?
Speaker 4 (15:56):
Yeah, I've been doing the same and really using it as
a creative solution for somefolks that are, you know, in
some different positions and andyou know real estate isn't
everybody all the same but youfind everybody has a different
situation.
So some of the great benefitsalso is you know, once you get
that 70, you know percent ofvalue in the home is being fixed
(16:21):
up, cash CPO is helping their,their covering the carrying
costs, you know, between thatpoint and when it goes back on
the market and sells and that'sreally helped a lot of my, my
clients.
Another thing that's been ahuge value is you know if people
are needing to sell their homeand go in and buy another home.
(16:45):
I have a lot of you know folksthat are at the point where
they're looking you know theirhouse is too big and they want
to, you know, move intosomething a little bit smaller
and more manageable.
And you know, as they'rerunning out there, they're not
having to write contingentoffers that are as long or have
(17:06):
as many question marks on them.
You know we're able to get thesecash CPO offers on the table
immediately, get them intoescrow and then we're able to
get them to go out and be ableto write offers on those other
homes that may be a you know alittle bit smaller price tag
than the ones they were selling,but that's what they're looking
for because you know life cansometimes contract as you as you
(17:29):
get older, and sometimesgetting them from A to B
possesses some challenges andcan create some anxiety for the
customer, and so this has been areally great tool to help kind
of alleviate some of thatpressure for them and again
helps us stand out in our marketis just being creative and
(17:50):
finding ways to move the needlefor people that really need help
.
Speaker 2 (17:54):
CPO has brought opportunity for a lot of folks
too, and I'll explain it to youlike this through what I've just
run into recently is I had alady that was moving from
Florida.
Speaker 1 (18:07):
Okay.
Speaker 2 (18:08):
Have you got your home up for sale?
No, but I really want to moveon up there.
I'm ready to go.
So I'm going to get my realtorand we're going to, we're going
to get this house sold.
I said, okay, well, that soundsgreat.
Tell you what.
Would you like to receive acash offer for that home?
Now, of course, I can't presentit, but I've got an agent there
that that can, and do you know?
(18:29):
So we went, we, we got itcreated, we presented an offer
to her, came up here.
We put an offer on a home thatshe wanted up here, that I'd
been shopping with her for, andit gave her the opportunity to
have the money to be able tocome up here and buy.
She didn't own any money onthat home, so she took the 70%.
(18:50):
She carried it up here.
She's in the midst of sellingthe home right now.
It's just going to market.
It really didn't need anyshining.
In fact, she had been hit byHurricane Ian and just got her
own, one of the few that havealready been repaired and
finished, and so she's going tomarket with a shiny place and
(19:13):
there's not really any otherother product out there.
So I'm anxious to hear her sayshe's gotten this old and taking
advantage of that, thatwindfall, that waterfall which
is getting the profits on theresell, which are, you know, if
you look at any other type ofinvestment program, most of the
(19:33):
time they're 50% and then yougot to pay for those repairs out
of your 50% that they paid you.
So it's, those programs can beoften difficult and that's one
of the things that Rowena Sol inthis program and shared now
that has created, and she was,she's the founder of CPO experts
(19:55):
comm, and so with that, youknow, she's created an
opportunity for our whole teamTo reach out all over the United
States.
And it's incredible becausewe've got teams in every state
that offer this CPO program.
So if you're listening andyou're out in Texas, reach out
to our CPO experts comm, thecash CPO program, and We'll find
(20:20):
an agent right there.
On that website you can clickon find an agent.
It will take you to a map ofthe United States.
You click on the state, itdelves in even closer.
So it's, it's becoming anincredible program and you know,
drew, what I've been able to dois come in and I'm going to
listings with an offer in thepocket and, yeah, that's just
(20:43):
that's pretty incredible for meto be able to offer offer folks
right off the bat.
Hey, here's a solution.
You're in a pickle and you knowit's.
It's a way to get people to goahead and come out with that
information, because there'snothing worse than finding out
that they're two months behindon payments and that they go
into proceedings for foreclosurein another 20 days.
(21:06):
Well, you know, at that pointin time it's kind of hard for
the agent to help you get thehouse sold.
Traditionally, you know yourtraditional sale.
You need to get to market.
You get somebody.
You know it takes a couple daysto get the offer right if it's
perfect, and most of the time ifyou hadn't made your payment in
two months, the house hadn'treally been given any love in a
(21:27):
while because you've been in apickle, great.
So you know you're sort ofrunning into a homeless war out
and you need to sell it in 20days.
Well, guess what?
We got cash CPO and if you'renot upside down on your mortgage
, most of the times we can, wecan take that program and use it
to your benefit and in factwe've just helped some folks and
(21:48):
it's it makes you feel goodthat you help somebody save
their credit number one, notruin themselves with a, with a
foreclosure, and Then they havean opportunity to make some
money on it and it's just.
You know it feels good as anagent.
You know we get thrown underbus a little bit here and there,
(22:10):
but we're also busy trying todo so many things, and this cash
CPO is certainly made me busy.
Drew, I don't know about you.
What's going on as far as whichprogram are you Focusing on?
Are you doing more of the foursell by owners?
Are you going for expiredlistings?
Are you dealing with divorceCPO or retirement CPO?
(22:35):
You know we've got the newbuilder CPO com program too.
Speaker 4 (22:37):
Yeah, as of now, we've really been helping a lot
of the fizz bows expired and ingeneral, you know listings that
were going on where the programjust makes a lot of sense.
You know, I had a lady who whohad inherited a house and you
know she lived two and a halfhours away and the house
(22:58):
happened to be in our house weworked on and so you know she
had tried it as a four sale byowner was thinking about listing
it.
You know, I went by and lookedat it and and it was just such a
perfect match for this, forcash CPO and the opportunity, in
that, you know, the house justneeded a little paint, some
(23:20):
countertops and a little bit oflove in order to really not only
just be more sellable but havea little bit of love, in order
to really not only just be moresellable but have some value
Added.
And this lady is trying tofigure out where she's going to
get the money, how she's goingto get here from out of town To
make it work, and it was justlogistically a nightmare for her
(23:43):
and that was right.
You know one of my first dealsthat I started doing with cash
CPO, where it was Well, hey,here's a solution for you where
you can get your money right nowbecause it turned out she had
already, out of her pocket, paidsome of the other errors, the
money, and then she was going toreclaim that money when she
(24:05):
sold the house and we're dealingwith a market that hasn't had
any major, you know, down turnas far as price goes, but we're
definitely Cheatering on an edgehere.
From the regards of, you know,time is of the essence.
The longer that asset Sits emptywith nobody taking care of it,
(24:25):
in a market where we're seeinginterest rates go up and things
change, you're, you're more andmore at risk.
She was more at risk everysingle day from the situation
she was in, and so when webrought her the offer, you know
not only did that help Make herflesh with what she had already
been for out of pocket, but italleviates the problem of her
now having to, you know,basically move to the area for a
(24:50):
short period of time and try tofind people to do work in an
area that she's not familiarwith.
You know, the program helped tohandle all that for her and
that Actually turned out to be areally good situation and, like
you just said, it's nice tohelp people, it's nice to be
able to think outside of the boxwith programs like this that
you know some other agents don'teven know exist and have access
(25:13):
to, in order to just help goodpeople make good things happen
for themselves and, you know,provide a nice home for a future
buyer as well.
Yeah, man, you know.
Yeah, you're exactly right.
Speaker 2 (25:27):
You just said it, this is not your average.
You know traditional Listingit's not your traditional
transaction, but it is somethingthat can help you and help the
community, like I touched onbefore.
You know, you and I, as listingagents, are bringing a home
that's shined up a little bitbetter.
(25:48):
It's going to last your newbuyer A lot longer more, more
time of a life for a home, witha new roof if it needed one, or
a new hvac or Maybe addfoundation problems.
You know we're here in themountains, we got a lot of
moving parts here and homes,homes tend to slide down the
hill a little bit after about 50years.
(26:10):
So we have structural stuff.
I've become very I've become astructural expert, although I'm
not a structural engineer.
I can see that a big giantcrack going through the
foundation or up the foundationwall Might be an issue.
But you know so.
You know, fixing those kind ofthings coming back to To the
market with a shined up home Isnot the traditional way of
(26:34):
necessarily doing it.
And and you said it, you know,coming through covid it was
pretty easy.
You could just pretty much laythere and have a deal right.
So it it's funny.
But now you're having to sortof understand the market and
you're having to understandhaving empathy for folks and
(26:55):
understand where they're comingfrom and delving into it.
And that's one of the thingsthat cash cpo has helped me
Understand and and sort of comeback in to what a normal market
you know we're.
We're Getting closer to towhere you've got a little bit of
a ability to negotiate.
You know homes are staying onthe market a little bit longer.
Here my folks are actuallyhaving opportunities To be able
(27:19):
to buy.
You know we're not goingthrough the five contracts and
missing out on homes and and youknow, losing out to highest and
best, just never know what thehighest and best offer is.
But so it's getting getting tobe a little bit, a little bit
(27:39):
more normal.
You know, clemente, hugh GlarCame up with the economic cycle
Back in 1860 and about every 10years we go through dips, highs
and dips.
So you can see that chart thereon cpo expertscom and what it
shows is that we're going sortof out of the peak.
(28:01):
You know, 20, 21, 2022, we wereat a peak with the rates being
at three To five, and so then atthe beginning of this year,
when the rates started going,you know, we started seeing it
taper off.
We're coming off of the peakand we're heading towards the
(28:22):
trough and it's going to be acouple years.
You know we're going into anelection year.
Things are sliding a little bit.
Prices are sliding Becausesellers are realizing, hey, I
need to drop the price a littlebit before they even come to
market, so I'm not coming.
I don't see folks coming tomarket with that high price and
actually getting it.
They're.
They're considering okay, we'regonna take a little lower price
(28:45):
because we know the market'scoming down.
We can feel it.
The the internet is telling me,the newspapers are telling me,
the radio is telling me so Ibetter listen.
So I've got some folks there,you know, realizing that not
going to get that big crazyprice right now Because people
are paying the interest rate andthe cost of money is gone up
and so you know, the sellers arecoming off of it a little bit
(29:07):
and they're realizing that, hey,higher interest rates, higher
payments, people can't affordthat.
500.
Somebody that was 500 inFebruary is now 400 and November
.
So you know, as far as theirpayment, if they're a payment
person, which is 95% of thefolks out there, they're a
(29:28):
payment person, so they'rewanting to pay attention to what
they're paying a month to live.
And that has creeped up.
A lot drew here and in WesternNorth Carolina and I'm sure
there in California, in the BayArea, sonoma County it's it's
gone up as well.
Speaker 1 (29:43):
Everybody out there in this land we're.
Speaker 2 (29:45):
We're talking with Drew Nichols here.
He's.
He's from the California market, he's with exp and he's taken a
really good opportunity herewith cash, cpo and and he's
created success.
And he's on the radio here withus today to sort of help share
what nationwide is sort of goingon.
So we're on the other coast,the left coast, and Figuring out
(30:10):
what what's going on with theirmarket.
Drew.
Thank you for getting on theradio with us.
Tell us a little bit more.
Speaker 4 (30:19):
Yeah, absolutely.
Thanks for having me.
So, yeah, I have a real estateteam that I run here in Sonoma
County, in Mendocino County,just at the far end of the North
Bay Area, and, like you said,our, our cost of living out here
is is Definitely Going up.
You know, the grocery bills,the gas pumps all of those are
(30:40):
are definitely something thateverybody's feeling and that
isn't impacting people.
And so you know, a lot of whatwe're looking to do and do on a
daily basis is we just we'rejust helping, you know, not just
sell homes homes are sellingthemselves but we're consultants
and we're helping consultpeople about what their options
(31:00):
are to help them sell their homeand so maximize that value.
And so you know, if you'reinterested in learning more, you
can go to soldbydrewcom sold byDrew nickel and learn more.
But for us it's really aboutServing people in a way that's
helping get their home soldquicker and faster and for more
(31:24):
money.
Then what some other agents areable to do out there, because
they're not connected and don'tunderstand these programs that
we're talking about today, likecash CPO or divorce CPO and
these different solutions thatare out there.
It's, it's required now in thistype of market that the agent
you choose to work with knowsthat these programs exist, knows
(31:48):
if they're right for you andthen knows how to utilize them
for you to take advantage, youknow, in the way that's possible
based on your current marketconditions.
And so that's a lot about whatwe've been doing out here and
shifting business, because youknow we're still running a
business and advising agents youknow the way we were six months
(32:12):
ago would be doing them a greatdisservice.
You're right on the money, inregards that Purchasing power
has gone down.
You know people's People'sability to offer more has gone
down because that has beensucked up by the higher interest
rate, and so people are notonly in a position where they
(32:33):
can't offer as much, but they'realso just becoming a little bit
more selective.
So you know the houses that arefetching the premiums in our
area, the top dollars, the overaskings, those are turnkey.
Yeah, those are where you knowthe buyers are going.
Okay, we can move in here in,the drop our suitcases and
(32:54):
unpack our boxes, and wherewe're living, you know I don't
have to paint and put you know,five, six thousand dollars into
carpet and and you know all ofthose things and so those
positioning our homes, oursellers homes, to be that
property in this market andutilizing cash CPO as a way to
(33:15):
Do that has been extremelypowerful and it's it's how we're
helping people still really getTop dollar for their home in
our marketplace.
Speaker 2 (33:24):
Yeah, buyers and buyers agents prefer a home that
is turnkey.
You know if it needs paintingor deep clean or a new roof.
You know I as a buyers agent,my buyer doesn't have time to
deal with that, you know she's.
She's not one of a mess withthat.
I've got someone right nowshe's a single.
(33:45):
Well, she works at bill morehere and she works 50 hours a
week.
She can't go and take care ofputting a roof on that and make
sure it's done right andprobably doesn't really
understand it a whole lot either.
So that scares her.
She doesn't want to run to ahouse that needs repair.
And that's one of the nicethings about this cash offer
(34:05):
that we bring you.
You know, compared to otherInvestor programs that are out
there and other groups, you knowyou get, maybe you get a 65%
offer and that's, that's just in.
You're in an area that's reallyexploding or something.
But you know then you have topay for your own repairs out of
that money and with cash CPO, Ofcourse you don't go through any
(34:28):
of that.
Let them take care of theheadaches.
They have a project managerthat holds your hands.
Let's you decide on what youwant to repair, what you want to
budget, go out and help youfind those repairmen, and we're
all looking for the best price.
We actually have created somany relationships with our cash
CPO program.
I've got incredible Folks thatare helping me right now and
(34:53):
I've just been impressed withthe pricing I've been getting
has been really good too.
So, um, you know I'm I'mfinding that the, as the market
is shifting, you know my workerguys aren't as busy as they were
.
You know it's.
It's kind of nice because I'mable to get something done
fairly quickly right now.
Now, of course, we've gotrelationships to where we're
(35:15):
feeding these folks all the time, so maybe we do get a little
bit of preferential treatment ontiming, because they know as,
as real tours, we're trying toget that house back on the
market and we're kind of underthe gun a little bit to not sit
on our hands, and so we're we'reactive, we're pushing to get
(35:35):
that house to market and so withthe, the cash CPO program, it's
been really great.
You don't have to come out ofyour pocket for these repairs
until after what I'll call the.
You know, there's the initialclosing and that's kind of
staying there until you get thecash CPO and that's kind of
(35:55):
stage, one of your, of yourclosing transactions.
But then on the secondtransaction is when you would
pay for those repairs out of thecell of the home.
So it's, it's a great program.
You know I've often had otherinvestors say, man, that's, I
don't know about this program,this is kind of risky.
Well, our buyer is doing this3000, 4000 homes this year and
(36:21):
uh, you know that's prettypowerful when you're able to do
that amount of transactions.
So you know they're not tryingto make a big windfall, they're
certainly not trying to hold onto your home either.
They don't want the home.
They've never kept a home.
They've sold every home thatthey've ever worked with in the
cash CPO program.
So you know it's a, it's anopportunity to where they use
(36:47):
their program fees to make theirengine turn and they know what
they're going to pull out of it.
It's not a get quick, get richquick scheme on one house.
They do a lot of homes.
So I don't know, man, I'm sofantastically thrilled to be
able to offer this to my peopleand I feel really good about it.
(37:07):
I've worked with the teams,with the CPO experts Everyone
holds your hand.
I've gotten answers in everyturn.
So it's, it's been reallyphenomenal for me.
Well, rowena has really put afantastic program together with
CPO experts and it's justspreading like wildfire.
(37:28):
And it's because people realizethat Getting a full market cash
offer and being able to closein 12 days is a necessity for
some folks right now.
And then you have opportunityto make money on your home.
To make money on your home whenbefore you didn't.
So it's, it's a way you knowI've, you know what's happened
(37:52):
to me recently, as I've had somefolks say well, listen, we
don't, we don't care about theback end, we just want money and
we want to go.
Okay, well, let's talk aboutthat money, because there's
money on the backside, um, cash,cpo and wanting to keep that
money.
So you can donate that money,and we've just now.
You know there's a programcalled tunnel to towers and uh,
(38:16):
so now you can.
You can give it to the veterans.
They'll use that money to buy ahome.
You can Donate it to whoeveryou would like, those profits
that come with that windfall.
So, drew, what else are youfinding in your market?
The folks that you're helpingwith the CPO program?
Speaker 4 (38:37):
Well, I think the other part of it that's been
helpful is for us as people whohave tried to sell their home
and weren't successful.
We refer to those as expiredlistings, but really those are
just, in my opinion, people thateither didn't get good advice
(39:01):
or didn't take good advice,because every home will sell.
It's just a matter of findingthe right path for the right
home and where the buyers areand having the market match that
.
As we go in our meeting withsome people who had tried to
sell their home, they're alittle bit frustrated.
They don't know why it didn'tsell.
(39:21):
Like I said a lot of times,we're noticing that there's
specific issues with the homethat aren't necessarily big
issues, but maybe that they'renot aware of or they don't have
the ability to addressthemselves.
That's preventing them frombeing able to move on, get the
home sold and get on to thatnext chapter in their life.
(39:44):
Again, they don't even knowthat a program like this exists
that helped them solve theirproblems.
Their previous agent might nothave even been aware that that's
the case when we come in andreally meet with people and not
just try to be flashy and fancy,but really get in there and
(40:04):
have a conversation with themabout what their needs are, why
they want to sell, what theirlife is like.
If they have to stay in thehome for a longer period of time
and really dig in deep aboutwhat's going on, we're finding
that we're able to createsolutions for them to be able to
move on.
(40:27):
That's been incrediblybeneficial to a lot of people
who even tried to sell theirhome at a time when the market
was better and couldn't get itdone and feel like they missed
out on an opportunity there andhad some frustrations with their
previous agent or just didn'tunderstand why their home wasn't
(40:50):
selling.
And we've been able to utilizecash CPO with those types of
sellers to really get in andprovide some clarity on what's
going on, why their home hasn'tsold and how we can help fix
those issues to get the propertysold and let them know they're
going to get an offer at a fullappraised value, the full market
(41:14):
value of their home.
They're going to be receivingan offer on that and that
provides them with a lot ofinsight and clarity on their
specific situation.
And so, again, it's thinkingoutside the box and providing
opportunity in a way that otheragents and people in the market
(41:36):
just didn't understand waspossible and available, and
shining that light on thepossibilities and the programs
that are out there for people.
It's just something that'sreally.
It's really helped and it'sreally helped us stand out in
our marketplace.
Like you said, when we show upwith an offer for full market
(42:02):
value on day one, they alreadyknow that they're maybe talking
to somebody who's a littledifferent, thinking a little
different, and maybe actuallyhave some solutions to help them
get from where they are towhere they want to be.
And that's what's what I enjoydoing every day.
Speaker 2 (42:20):
That's right.
So how it works, folks outthere and in Radio Land is you
would receive a cash offer onyour home for up to 74, 70% of
the market value, and that wouldbe within 12 days.
You'd get a full market valuecash offer within 24 hours.
So all we need to do is justcome out to your home, we'll
(42:44):
take a peek at it.
We'll get that offer to youwithin 24 hours.
The next step would be to youknow, cash CPO or cash CPO team
would work with vendors and makethe necessary updates to your
home, from new paint, new roof,landscaping, everything,
whatever in between it.
We would improve the home andthen we you and I, as listing
(43:09):
agents we'd get to work onlisting your home and then
receive a top dollar offer.
Once we receive that offer andonce your home sells, you get to
keep the upside, which is, youknow, two thirds of the sellers
make more than they would on atraditional home sell.
And because on the traditionalhome sale you got to minus out
(43:32):
all those repairs and, you know,on a traditional home sale you
probably didn't do an inspection, you probably didn't do an
appraisal, so you're coming intoa situation where you're making
a lot less in that traditionalhome sale than than if you would
have fixed it up with this cashCPO program.
Bring it to market with adecent home that's signed up and
(43:53):
right now you're able to letcash CPO take care of the
headaches repair take care ofthe headaches and negotiation.
Take care of the the showingheadaches.
You know moving all your stuffout.
You know you avoid the pro, thetraditional home sales process.
With cash CPO you don't haveany showings.
(44:14):
You're not living through ahome prep mom mopping the floors
, vacuuming, getting ready.
This is especially valuable andif you have pets and family and
everybody's having to clear outand you got to put the dogs in
the car and anyway, with cashCPO you get to move on.
Right now you get to make offerson other homes.
You don't have to have acontingency of your home needs
(44:37):
to sell and non contingentoffers often are much more
desirable for a seller Right now.
You know they're probablylooking at it a little bit but
it's not something they want todo.
So you know you unlock yourfunds, you unlock your equity in
the first transaction and youcan do that in as little as 12
(45:00):
days.
You've got your money in yourpocket and then after we relist
the home, you know you get paidout within three days of that
home closing the windfall, anyof the profits that, after we
minus the repairs, the programfee, which is often five to you
know nine, 10% is typical whatwe have found.
(45:20):
It'd be 5% if we sold the homewhen it went to market.
If it sits on the market formaybe two, three months, then
it'd be closer towards the eight, eight percent on their program
fee, which is simply a carryingfee.
So I've not found a betterprogram when it really relieves
(45:43):
a lot of folks, where you canmake more than the traditional
way of selling a home and youdon't have to worry about the
showings, you don't have toworry about getting the house
ready.
Let this CPO expert team getyou taken care of and we'll
bring you a full market cashvalue Based on your appraisal,
which they have done within acouple of days.
(46:03):
They get an inspection donewithin a couple of days so that
they know what's going on withthe home.
These are repairs that we needto have taken care of.
We're being upfront and honestabout the home.
This is what we know.
Let's matter with the home andit's a lot easier to sell a home
when there's not any mystery asas drew.
You know that right.
Speaker 4 (46:25):
That's correct.
We want to solve thesemysteries before we go to market
.
Speaker 2 (46:32):
Yeah, and that's what we do we, you and I we we delve
in there and we find thesemysteries, we find the problems
and and help you go to market.
And as a buyer or a buyer'sagent which I am also it sure is
nice when I've got an upfront,honest agent over there that
feels good about their productand they're sharing every little
thing about it.
(46:52):
You know that that brings a lotof comfort for me because, well
, I've got somebody that I got,that I've got here and I care
about them and I want them tohave the best home they possibly
can and I don't want to putthem into a situation where it
needs a new Roofer, new HVAC.
They want to turnkey.
Turnkey is the key.
(47:13):
So that's what this cash CPOprogram provides.
That's what I've found anyway,and it's it's it's helping
people and I'm a big proponentof it.
And I know why Rowena reachedout and and created this program
.
You know she's the foundingperson for this and and is
Really put together a awesomeprogram.
(47:33):
So I'm so proud of her workingovertime all the time Putting
this program together.
I don't know how she does it,but I'm thankful to be working
with her because she sure makesit fun for me.
Yeah, she's amazing, I don'tknow.
You get to sit with her everyonce in a while.
You get to see all the videosand everything that she's
provided to to understand thisfull cab, this full market value
(47:57):
Cash offer that we have, and tobe able to let our buyers and
our sellers know you knowprecisely, with confidence of
what the program provides, andwe cover all of them from
bankruptcies, save you from aforeclosure, divorce, foresell
by owners.
If you're going into arelocation situation, you need
(48:19):
your money to go find a house inAsheville, north Carolina.
If you're coming here, give mea call, I'll communicate with
you.
Wherever you're at, we can getyou a cash CPO offer on your
home, and that's what's sotremendous about this.
It's offered in every state ofthe United States and it's a
true, truly great program, andI'm so thrilled to be part of
(48:41):
cash CPO experts.
You know we're certifiedpre-owned Home experts, so we've
gone through all this trainingthat's there to really help you
the, the buyer and the sellerget the best product out there.
So if you're going to beselling your home, I understand
how to get your home sold andthat's why you want to come to
(49:01):
our cash CPO program.
Go to CPO experts comm.
You can find that agent and youcan find anyone in any state.
And then if you're an agent outthere and you want to learn
about this program and how totake advantage of being a cash
CPO, it's out there, it'savailable.
You can go to the CPO expertscomm as well.
And drew.
(49:22):
I want to thank you for gettingon the phone so early over
there in California and andsharing your expertise and your
Experiences of what yourmarket's doing there and then
also working with us.
Man trading leads back andforth and referring folks that
are coming from California andand and going to Western North
Carolina and vice versa, so it'sbeen a thrill to to share this
(49:45):
time with you this morning.
Speaker 4 (49:49):
All right, sir.
Thank you for having me on.
The pleasure has been all mine,Happy to get on with you guys
anytime and, yeah, cash CPO hasreally Changed my business and
helped changing the lives of alot of the sellers and buyers
that I'm working with, and, yeah, I want to express that
gratitude.
So thank you very much forhaving me.
Speaker 2 (50:07):
You got it drew.
Thank you for coming on and andfolks out there, we want to
share with you CPO.
So if you want to go to CPOexperts, comm and check that out
, it's a great way to get yourhome fresh and up, not use your
funds.
Be able to take advantage ofthis program and get your home
sold.
It's been a huge success.
(50:28):
And they don't.
They don't keep homes.
They've sold every home They'veever been involved with.
So it's a way to get your homesold.
Know what the value is, knowwhat the problems with the homes
are, get them freshened up,cleaned up.
Be in control of all thefreshening and and cleaning up
and and take advantage of thiscash CPO program.
(50:52):
For my listeners out there inthe Asheville area, going out to
the parade is getting ready tostart in a couple of minutes.
You guys it's it's gonna be agreat day to get out there and
see these local Families and inyour friends there in downtown
Asheville.
So so go check out the paradeand See all the exciting stuff
(51:15):
going on there as well.
And I want to thank everybodyfor listening to the real estate
radio show here on on FoxWestern North Carolina WNC.
It's been phenomenal.
Thank you for listening to ourprogram, randy.
You're always incredible.
I really appreciate you.
What do you think the weatheris going to do today?
(51:36):
It's not supposed to doanything, but get more pretty,
right.
Speaker 3 (51:39):
You got it.
It's gonna be a beautiful day.
We are, let's see.
We've got a high temperature ofabout 65 expected today and
Again tomorrow.
Maybe Tomorrow night, mondayand the Tuesday, we get some
much needed rain Around here.
(52:00):
I always say on the radio weare in a Really drought
situation.
Forest fire danger is high.
I understand through the PigeonRiver Gorge down I-40, it's
Virtual war zone.
This morning all thosewildfires burning I call it the
black bear wildfire.
(52:20):
So be careful, just don't doany kind of outdoor burning at
all and keep your butts in thecar.
If you're a smoker, don't throwa cigarette butt out the window
.
Keep your butts in the car.
You got that.
Speaker 2 (52:35):
Yeah, and folks, you know I've got a new listing out
there.
It's 218 potato branch.
It's out in Lester.
It's a three bedroom, threebath home.
It's incredible.
It's listed at 499 and we'vegotten it sharpened up and it's
looking Beautiful.
So do take a look at that, getwith your agent or, if you want
to, you can, of course, call usover at all-star powerhouse.
(52:58):
You can look online too atmountain home hunt calm and go
to our listings and you'll findthat home at 218 potato branch.
And you know you can also gothere to the mountain home hunt
calm and you can find out what'smy home worth and there's a
value program there.
You guys have a fantastic day.
(53:19):
Call your friends and family,hug them, tell them you love
them and have a wonderful,wonderful time.
Speaker 1 (53:34):
This has been the plain English real estate show
with Rowena Patton.
Visit Rowena and post yourquestions at radio Ashville comm
or call her at 828 210 1648.
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