August 4, 2025 • 21 mins
The real estate market is experiencing a significant shift with 71% of active agents making no sales in the last 18 months, creating both challenges and opportunities for those who can adapt to changing conditions.
• 71% of active real estate agents have made zero sales in the past 18 months
• The "Great Pushback" shows buyers refusing to pay inflated prices for homes
• National Association of Realtors has lost approximately 440,000 members (25% of total)
• Freddie Mac and Fannie Mae implementing roughly 80 rule changes, including rental history consideration for loans
• Private listings debate centers on transparency versus seller security concerns
• Squatter problems highlight challenges in property management and ownership rights
• Successful agents must know their numbers and articulate unique value to clients
• Relationship-building and referrals becoming increasingly important in the current market
• Interest rates still high but some builders offering reduced rates (around 6.5% or lower)
• Market shifting from seller's market to more balanced conditions
To learn more about Habitation Investigation, the Three-time Winner of the Best Home Inspection Company in the Midwest Plus the Winner of Consumer Choice Award for Columbus Ohio visit Home Inspection Columbus Ohio - Habitation Investigation (homeinspectionsinohio.com)
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Habitation investigation is the way to go
for a home inspection in Ohio.
Trusted licensed homeinspectors for your needs from
radon to mold to warranties Fora great home inspection, you
really can't go wrong.
(00:21):
Visit homeinspectionsInOhiocom.
Speaker 2 (00:26):
Hey everybody, welcome to the Standing Out and
Out Podcast.
This is Jim and of course wehave Laura, the Office Goddess,
here.
Speaker 3 (00:32):
Hello everyone.
Speaker 2 (00:34):
Alright, Laura, so you read some interesting things
.
Speaker 3 (00:36):
The other day.
Oh yeah, statistics, stats, notnecessarily my friend, but very
interesting.
Speaker 2 (00:41):
Some people called them sadistics because they did
not like stats in college.
Speaker 3 (00:46):
I enjoyed it actually I had.
I did well, which is probablywhy I liked it I had problems
with it because they literallytaught us how to take the
statistics and lie you canmanipulate to do information
that you want, for example,vaccines.
Speaker 2 (01:05):
they did a thing saying, hey, this vaccine is
100% better than the other one,like double the results.
You're like, oh, this isawesome.
Really, the first vaccine onlyhad a one percent efficacy.
(01:25):
This is only doing two percentbut still shit was correct, it's
still shit.
But yeah, technically from oneto two, yeah, you doubled it so
you can manipulate stats to dowhat you want.
But you got some stats that youwant to talk about the real
estate market overall nationally, which then ohio, is a good
representation of what goes onnationally.
(01:46):
We're a little like bufferedwell, we don't have as wild
swings right just because ofwhat's going on in ohio and how
many companies are coming inyeah, I think ohio used to be I
think in the 80s it was aresearch center for marketing
where they would like nationalbrands would do things in ohio
to see how that worked, becausethey that ohio was a good
representation of the country.
I've heard that where nationalbrands would do things in Ohio
(02:07):
to see how that worked becauseOhio was a good representation
of the country.
I've heard that too, so tell us,what have you found?
Speaker 3 (02:12):
So the biggest one that I found was, of all of the
real estate agents that areactive nationally 71% have not
made any sales in the last 18.
Speaker 2 (02:25):
months 71.
Speaker 3 (02:25):
71.
71, which is insane to me.
Speaker 2 (02:28):
Well, there's lots of agents that are inactive, that
don't do anything, right.
Speaker 3 (02:34):
I don't think that included them.
From what I was reading,everything was saying active
agents.
Speaker 2 (02:41):
That's amazing.
That's amazingly bad.
We know there's a shortage ofhouses.
Yes, overall in the marketplace.
Speaker 3 (02:47):
Across across the country.
Actually, yes, but that isamazing to me.
I mean they do say that youknow, out of most occupations or
whatever, especially realestate, you've got 20% of the
agents doing 80% of the work andapparently that stat is holding
(03:08):
very true.
Speaker 2 (03:09):
That's Pareto principle.
Do you know him?
Speaker 3 (03:12):
No, I do not know him .
Speaker 2 (03:13):
He was an Italian economist and I think he
realized that, hey, 80% of theland I think that's how it went,
he had, 80% of the land wasowned by 20% of the population.
So 80-20 really does transferto a lot of things.
It really does.
So the freighter person waslike 20% will do 8% of the work.
(03:37):
So a lot of the marketingpeople do is they find that top
20% focus on them and that wayyou're going to take care of
yourself very well If you'reserving those 20% or you're
marketing only the 20% who areable to purchase, or whatever
the deal is.
So what else did you find inthe stats?
(03:59):
Because I'm seeing this andwe're kind of seeing it here.
I'm kind of thinking this isthe great pushback.
Speaker 3 (04:07):
Yes.
Because, when buyers are donepaying ginormous overinflated
prices for houses.
Basically, once you get into ahouse and you've paid, you know,
100, 000, 200, 000 over askingprice just to get it, you're not
getting that appraisal backanytime soon, like they're stuck
(04:28):
in that house for a very longtime period.
Speaker 2 (04:32):
End story correct because and we're seeing buyers
they're not buying the housethey're walking what?
What was that stat?
Speaker 3 (04:40):
you told me in arizona oh, that was for every
one house that went on themarket, 30 were coming off
because the prices were notaccurate when they went on and
buyers were refusing to pay Imentioned that to a real estate
other day and he's like yeah, Ican see that like he, he's even
seeing some stats like that aswell arizona has great swings
(05:04):
typically
Speaker 2 (05:04):
when the market crashed in 2008.
They arizona phoenix really gotcrushed phoenix, florida so we
probably have the same thinggoing on here in some way not as
dramatic perhaps, but we're you, I for the home inspection
company we are seeing buyers,more inspections.
(05:26):
We're seeing a good number ofinspections, especially on new
builds, which is good andconcerning the things that we're
finding often, but we're seeingbuyers like no, I'm not going
to do that, I'm going to wait.
I'm not going to wait.
No, I'm not going to do that,I'm going to wait.
I'm not going to wait, I'm notgoing to sign your paperwork.
Yeah, talk to the builder.
I'm not going to sign yourpaperwork because I'm going to
do inspection first, because I'mnot going to be.
Speaker 3 (05:48):
Trapped in a house that I can't live in.
Speaker 2 (05:50):
Financially trapped in this house, so any other
interesting stats come up?
Speaker 3 (05:55):
Yeah, 71% did no single transaction In 18 months.
Speaker 2 (06:01):
And these are the active agents.
Speaker 3 (06:02):
Active agents yes.
That was my understanding fromall the different sources that I
read.
So another interesting sourceis that the NAR role agents are
leaving the NAR.
Now I don't know if this isbecause the agents are leaving
the industry or because a lot ofbrokerages are now saying, well
(06:27):
, you don't have to belong tothe NAR, and so they're just not
doing that.
So I don't know the exactreason for that one, but they've
lost about 440,000 agents.
Speaker 2 (06:40):
Ooh, so what percentage of their agents is
that?
Speaker 3 (06:43):
I don't know, they had like 1.6 million.
Speaker 2 (06:47):
So it's not like oh, this is the fourth.
Yeah, that's 25%.
Speaker 3 (06:52):
It's gonna be interesting to see what ends up
happening with that one and thereasons why for that.
There's a lot of stuff comingdown the road where things are
going to be changed.
Freddie and Fannie have about80 different changes that they
had done to their roles, butthey've only published like 12.
(07:15):
And I couldn't find what theywere and what the differences
were For the rules of theirdoing loans and business it
makes it all right.
Speaker 2 (07:24):
They're not announcing that it's probably an
internal process, that they'renot they're either there's no,
they don't see a need for thepublic to know them, or they're
like nah, somebody's gonnacomplain about that.
Speaker 3 (07:35):
Let's keep this internally I think there's a
thing with freddie and fanny,the DOJ, and they're working
through some concerns with thosetwo organizations.
So keep your eyes out on therequirements, because I know
they have upped the amount ofmoney for an initial loan.
Say that I'm going throughFreddie or Fannie and instead of
(08:00):
whatever it was before, it'sgoing to be like 806,000 or
something like that that they'regoing to be willing to loan out
.
So I think they've raised it,but it's going to be like
different stuff and they're alsogoing to be able to look at
renter's history, I believe, tobe able to get a loan to
somebody, because that makessense to me.
You've been paying rent for 15freaking years and you don't
(08:22):
think you can pay a mortgage.
Why would you not include thatin the first place?
Speaker 2 (08:26):
Yeah, that's a good change if they do add your
rental history From what I'veseen and once again, I haven't
been able to find everything.
Speaker 3 (08:35):
I'm not a loan officer, so make sure that
you're talking to loan officers,because I think a lot of this
stuff is going to be changing ona daily basis and you're going
to need to keep up for yourclients so that you know the
best way to help them and thebest type of loan person to give
them to.
Speaker 2 (08:53):
Yeah, there's.
There's so many loan programsout there.
I remember sitting down havingcoffee with a loan officer years
ago.
He had like 80 differentprograms.
Right, I mean down havingcoffee with a loan officer just
years ago.
He had like 80 differentprograms.
I don't know how a single loanofficer can know all those
things.
So I'm hoping loan officers canput in your potential buyers
(09:15):
like stats or all theirinformation and they have some
system to go hey, here's all thepotential programs they could
possibly use.
That would be fantastic if theyhad that.
If you're a loan officer andyou have that, I would totally
let everybody know that you havethis program to find the best
program for them.
I've never heard a loan officertalking about that.
Speaker 3 (09:34):
No, but that would be very good.
So if you don't have that hint,hint, hint, that might be a
good thing to do.
Speaker 2 (09:41):
Or if you're an agent , go hey, I have a loan officer
that can research and find allthe programs that for loans,
that that may be the best foryou.
Well, I've always been underthe impression, instead of going
to the bank and it's only theirone loan, two loans that they
give out.
Speaker 3 (09:57):
But still, even some loan officers only deal with
certain loans.
I don't know of any one loanofficer that deals with all of
the different kinds, so you needto find one that's got a good
range for the clientele that youwork with.
Speaker 2 (10:11):
Because that's what it's going to come down to.
It would be hard to know allthose.
Speaker 3 (10:14):
Right and trying to figure that out and remember
that that's crazy.
Speaker 2 (10:18):
That would be difficult, that's too, much.
Speaker 3 (10:20):
So those were the big ones.
There's a lot of changes coming.
There's also something aboutprivate listings, and so this
has been a huge debate.
Apparently, zillow is notallowing private listings, like
(10:41):
certain private listings, Ibelieve, on Zillow, and the ones
that aren't allowed on Zillow,homescom has said, well heck,
we're going to put those on forour people.
So if you can't list somethingon Zillow, go to homescom,
because I think you can list itthere.
So there's this huge debateabout private listings.
And is it enough transparency?
(11:01):
Is it hurting the client, theseller?
And so that's another hugedebate that's going on within
the real estate industry.
Speaker 2 (11:10):
If we were a seller and say we moved out of the
house, the house is vacant,right?
I, I would not want somebody toknow I would be a little more
timid about putting the house uppublicly.
Speaker 3 (11:24):
That's for sale well we did, because from
mechanicsburg, yeah well, we hadthe agent living in town and
she would come we had check onit.
Speaker 2 (11:31):
We had people who could watch the house.
Speaker 3 (11:33):
Right.
Speaker 2 (11:34):
Because you go publicly.
Hey, my house is for sale.
Here's a public listing on anMLS.
Here's a photo showing itvacant.
Speaker 3 (11:44):
If I was a thief, but how does the thief get access
to the MLS?
Because that's just supposed tobe real estate agents.
Well, yeah, but MLS posts thosethings in other places well,
that's true, so you'd have to gothrough and search so I would.
Speaker 2 (11:58):
I'd be like, oh, here's a new list.
If I was a thief, here's,here's a house for sale, okay, I
can see they listed.
Look look at there's new, uh,new appliances, new furnace, new
kitchen cabinets.
Kitchen cabinets do not haveserial numbers.
I could go in there and I cansee that it's a vacant house
because of all the photos inthere.
That's the house that if I wasa thief I would probably target,
(12:19):
versus the one that all right,I see it's occupied.
You got like no.
So if I was say we had a reallysuper nice house, really nice
things in there, and it's vacantright now, I would not that
publicly listed.
I think as a seller you shouldbe allowed to choose you want
private listing or not, becauseI would not want everybody
(12:39):
coming in the house.
Speaker 3 (12:40):
I'd want people hey, only serious people that the
agent may be vetted coming in totake a look do you remember
like the the first year ever wehave gone in and two of the
houses that we were to inspecthad people that had moved in?
they had squatters in there yeswe weren't able to go in and the
(13:01):
one company when I called totalk to the listing agent and I
can't remember what company thiswas, but she said she works
across the country.
She's she's a licensed realestate agent across the country
for this company and that ohiowas the worst company that she
had to deal with yeah, the theworst state to deal with in
(13:21):
terms of squatters, and thatthere were more squatters in
ohio just taking over housesthan other areas of the country
and I.
Speaker 2 (13:30):
That seems very bizarre to me, but we we've had
a couple houses where we go inor had that before doing
inspection.
Like holy crap, there'ssquatters in here and this is a
big problem in other otherstates as well, where the police
are like no, we can't, we can'tkick them out.
Tenants, tenants, rights.
I'm like wait, there's notenant.
Speaker 3 (13:49):
There's no signed agreement which is infuriating
to me.
Well, remember when we had thatone house that we didn't sell
because we couldn't sell it inToledo.
Yes, and so we had a rentalagreement with this woman who
moved some bippity, boppity dudein with her.
Speaker 2 (14:07):
They were an old boyfriend, old boyfriend or
something, I have no idea.
But she left him.
Speaker 3 (14:11):
She left him and she moved out, but he was still
there and he wouldn't move out.
Speaker 2 (14:16):
And we couldn't.
Speaker 3 (14:17):
We couldn't evict him , like we had to go through the
court system to be able to evicthim, in spite of the fact we
had no agreement with him.
We didn't know he was livingthere, and I think there does
need to be a change forlandlords to help protect them
more in terms of squatters andpeople that don't belong in the
(14:37):
house.
If you don't have a signedcontract, your butt needs out.
You should not have to gothrough court for that, because
you're coming in and that'ssomething illegal that you're
doing.
You are there illegally.
Speaker 2 (14:47):
Oh yeah, and they know it, and they know it.
So, so really it's I'm callingit a great pushback where buyers
are not like nope, I'm notgonna buy that, I'm not gonna
pay this much.
First interest fed needs.
Lower the interest, that'd be,that'd be nice we'll see how
that everybody out yeah sointerest rates have really not
come down that much.
Speaker 3 (15:08):
I have heard some interest rates are good, some
some areas are dropping themI've heard down to like six and
a half percent now, okay, I'veheard down to like 6.5%.
Speaker 2 (15:15):
Now Okay, I've heard lower than that even.
Speaker 3 (15:17):
Oh, okay, whatever I read this morning was 6.5%.
I think it was a builder wasgiving that yeah, builder was
doing what Three or four we?
Speaker 2 (15:24):
heard Something like that.
Speaker 3 (15:24):
Yes, yes so new builds are lower interest even.
Speaker 2 (15:28):
So, but yeah, buyers just aren't going to deal with
that.
They're more aware of moldissues and new builds, which I
don't know if we have done apodcast on that.
We need to do that one.
I think we did, but anyway.
Speaker 3 (15:42):
Well, in flipped houses, like the lawsuit in
Alliance, yeah, we talked aboutthat one, where they bought a
house without an inspection andthey're looking at $323,000
worth of repairs.
Speaker 2 (15:54):
Yep.
So, laura, if you are a realestate agent and you know
there's pushback from buyersbecause they're not cave in
Right, one of the problem is thesellers.
If they got really niceinterest rates say 3%, it's hard
to move someplace and pay ahigher interest rate.
Yes, that's one issue 3%, it'shard to move someplace and pay a
higher interest rate.
That's one issue, but it seemslike in Arizona, and it's here
(16:18):
as well the buyer is like no, no, no, my house is totally worth
$500,000.
When it's like no, it's worthmore like $425,000.
Speaker 3 (16:26):
Or $325,000.
Speaker 2 (16:30):
It's not a seller's market right now.
Speaker 3 (16:32):
It is starting to change.
It's getting a little bit morebalanced.
Speaker 2 (16:34):
It's definitely more balanced than what it was.
If you were a real estate agentand you had to deal with this
environment, what would you do?
Well, first of all, it's notjust that.
Speaker 3 (16:50):
It's the negotiation of your commission as a buyer's
agent, because a lot of peopleare having trouble with that.
I'm seeing a lot of posts onFacebook you know how do I have
this conversation.
Or you know, a friend waslisting a $3 million house and
he only wanted to pay me point5% and I'm like no, my
commission is this.
And he went with another agent,so you just lost that
(17:11):
commission.
So I understand that, but thereneeds to be a balance of what
your commission is and what youoffer to a client.
You need to stand out so thatyou can go to your client.
No, I am worth this.
This is what I will do for you.
It's like $17,000.
Speaker 1 (17:34):
I think is what somebody said Okay.
Speaker 3 (17:37):
I would have taken that as a commission on a $3
million house.
Speaker 2 (17:41):
Yeah, it's 0.5% right .
Yeah, yeah, $15,000.
I may be wrong on this.
I've never been a real estateagent, but I think the paperwork
to sell a $3 million house isthe exact same paperwork to sell
a $200,000 house.
Speaker 3 (17:59):
I'd rather get the higher commission from the
higher priced house.
Speaker 2 (18:05):
There's a whole other topic Agents.
You need to know your numbers.
If you know your averageexpenses per house they cost you
let's just say $2,000.
Okay, of marketing and expensethat you have in each house on
average, then you know youcannot sell.
Your commission has to be atleast that amount.
Speaker 3 (18:24):
So it's just a break even figure out your math.
And then cause that that wouldhave been worth it for that
agent but, that agent didn't doit, so they lost 17, 15,000, but
being able to go to your clientwell, this is what I offer.
That other agents don't.
I think is going to becomeparamount in this next few years
(18:48):
, Because if you don't stand out, why would anybody choose you
at this point?
Speaker 2 (18:53):
Yep.
Yep so it's something thatother people cannot copy right,
which is going to be yourconnections.
Speaker 3 (19:00):
You cannot copy your connections, your relationships
there was a statistic I sawwhere people were getting um
like from past clients, friends,relatives, like those numbers
are jumping up for real estateagents in terms of how they are
(19:23):
being able to do transactions.
Speaker 2 (19:25):
How to find new clients.
Maybe how to find clients.
Speaker 3 (19:28):
So I need to look back through and see if I can
find that stat and then maybeone of our future podcasts we
can talk about that.
Speaker 2 (19:35):
Yeah, and you get referrals from taking good care
of your past clients.
Speaker 3 (19:39):
Right.
Speaker 2 (19:43):
And being somewhat reasonable within the fee you
can't expect because becausesomebody's your friend, you can
double the the expense, yourcommission, and think they're
gonna jump on that jump on that.
They're gonna like dude.
He's trying to take advantageof our friendship and like no,
that's not good.
So be reasonable on the fee, ofcourse, but you need to know
your numbers and and your worth.
But fifteen thousand dollarcommission, that's I understand.
(20:11):
That's less than the thirtythousand you may have hoped,
hoped for, or forty fivethousand, but if your expenses
are only two,000 per transactionthat you actually complete,
you're making money.
It's worth it, especially whenthe sales are lower.
The number of transactions arelower than they have been in
(20:31):
previous years.
So, laura, I think that's aboutit for this one.
Speaker 3 (20:33):
Yep, I think you're right.
No, just that was it.
Speaker 2 (20:35):
All right, thank you, everybody.
Speaker 3 (20:36):
Bye All right, bye-bye.
Speaker 4 (20:46):
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(21:06):
And click on podcast.
Until next time, learn and godo stuff.
Habitation investigation is the way to go
for a home inspection in Ohio.
Trusted licensed homeinspectors for your needs from
radon to mold to warranties Fora great home inspection, you
really can't go wrong.
(00:21):
Visit homeinspectionsInOhiocom.
Speaker 2 (00:26):
Hey everybody, welcome to the Standing Out and
Out Podcast.
This is Jim and of course wehave Laura, the Office Goddess,
here.
Speaker 3 (00:32):
Hello everyone.
Speaker 2 (00:34):
Alright, Laura, so you read some interesting things
.
Speaker 3 (00:36):
The other day.
Oh yeah, statistics, stats, notnecessarily my friend, but very
interesting.
Speaker 2 (00:41):
Some people called them sadistics because they did
not like stats in college.
Speaker 3 (00:46):
I enjoyed it actually I had.
I did well, which is probablywhy I liked it I had problems
with it because they literallytaught us how to take the
statistics and lie you canmanipulate to do information
that you want, for example,vaccines.
Speaker 2 (01:05):
they did a thing saying, hey, this vaccine is
100% better than the other one,like double the results.
You're like, oh, this isawesome.
Really, the first vaccine onlyhad a one percent efficacy.
(01:25):
This is only doing two percentbut still shit was correct, it's
still shit.
But yeah, technically from oneto two, yeah, you doubled it so
you can manipulate stats to dowhat you want.
But you got some stats that youwant to talk about the real
estate market overall nationally, which then ohio, is a good
representation of what goes onnationally.
(01:46):
We're a little like bufferedwell, we don't have as wild
swings right just because ofwhat's going on in ohio and how
many companies are coming inyeah, I think ohio used to be I
think in the 80s it was aresearch center for marketing
where they would like nationalbrands would do things in ohio
to see how that worked, becausethey that ohio was a good
representation of the country.
I've heard that where nationalbrands would do things in Ohio
(02:07):
to see how that worked becauseOhio was a good representation
of the country.
I've heard that too, so tell us,what have you found?
Speaker 3 (02:12):
So the biggest one that I found was, of all of the
real estate agents that areactive nationally 71% have not
made any sales in the last 18.
Speaker 2 (02:25):
months 71.
Speaker 3 (02:25):
71.
71, which is insane to me.
Speaker 2 (02:28):
Well, there's lots of agents that are inactive, that
don't do anything, right.
Speaker 3 (02:34):
I don't think that included them.
From what I was reading,everything was saying active
agents.
Speaker 2 (02:41):
That's amazing.
That's amazingly bad.
We know there's a shortage ofhouses.
Yes, overall in the marketplace.
Speaker 3 (02:47):
Across across the country.
Actually, yes, but that isamazing to me.
I mean they do say that youknow, out of most occupations or
whatever, especially realestate, you've got 20% of the
agents doing 80% of the work andapparently that stat is holding
(03:08):
very true.
Speaker 2 (03:09):
That's Pareto principle.
Do you know him?
Speaker 3 (03:12):
No, I do not know him .
Speaker 2 (03:13):
He was an Italian economist and I think he
realized that, hey, 80% of theland I think that's how it went,
he had, 80% of the land wasowned by 20% of the population.
So 80-20 really does transferto a lot of things.
It really does.
So the freighter person waslike 20% will do 8% of the work.
(03:37):
So a lot of the marketingpeople do is they find that top
20% focus on them and that wayyou're going to take care of
yourself very well If you'reserving those 20% or you're
marketing only the 20% who areable to purchase, or whatever
the deal is.
So what else did you find inthe stats?
(03:59):
Because I'm seeing this andwe're kind of seeing it here.
I'm kind of thinking this isthe great pushback.
Speaker 3 (04:07):
Yes.
Because, when buyers are donepaying ginormous overinflated
prices for houses.
Basically, once you get into ahouse and you've paid, you know,
100, 000, 200, 000 over askingprice just to get it, you're not
getting that appraisal backanytime soon, like they're stuck
(04:28):
in that house for a very longtime period.
Speaker 2 (04:32):
End story correct because and we're seeing buyers
they're not buying the housethey're walking what?
What was that stat?
Speaker 3 (04:40):
you told me in arizona oh, that was for every
one house that went on themarket, 30 were coming off
because the prices were notaccurate when they went on and
buyers were refusing to pay Imentioned that to a real estate
other day and he's like yeah, Ican see that like he, he's even
seeing some stats like that aswell arizona has great swings
(05:04):
typically
Speaker 2 (05:04):
when the market crashed in 2008.
They arizona phoenix really gotcrushed phoenix, florida so we
probably have the same thinggoing on here in some way not as
dramatic perhaps, but we're you, I for the home inspection
company we are seeing buyers,more inspections.
(05:26):
We're seeing a good number ofinspections, especially on new
builds, which is good andconcerning the things that we're
finding often, but we're seeingbuyers like no, I'm not going
to do that, I'm going to wait.
I'm not going to wait.
No, I'm not going to do that,I'm going to wait.
I'm not going to wait, I'm notgoing to sign your paperwork.
Yeah, talk to the builder.
I'm not going to sign yourpaperwork because I'm going to
do inspection first, because I'mnot going to be.
Speaker 3 (05:48):
Trapped in a house that I can't live in.
Speaker 2 (05:50):
Financially trapped in this house, so any other
interesting stats come up?
Speaker 3 (05:55):
Yeah, 71% did no single transaction In 18 months.
Speaker 2 (06:01):
And these are the active agents.
Speaker 3 (06:02):
Active agents yes.
That was my understanding fromall the different sources that I
read.
So another interesting sourceis that the NAR role agents are
leaving the NAR.
Now I don't know if this isbecause the agents are leaving
the industry or because a lot ofbrokerages are now saying, well
(06:27):
, you don't have to belong tothe NAR, and so they're just not
doing that.
So I don't know the exactreason for that one, but they've
lost about 440,000 agents.
Speaker 2 (06:40):
Ooh, so what percentage of their agents is
that?
Speaker 3 (06:43):
I don't know, they had like 1.6 million.
Speaker 2 (06:47):
So it's not like oh, this is the fourth.
Yeah, that's 25%.
Speaker 3 (06:52):
It's gonna be interesting to see what ends up
happening with that one and thereasons why for that.
There's a lot of stuff comingdown the road where things are
going to be changed.
Freddie and Fannie have about80 different changes that they
had done to their roles, butthey've only published like 12.
(07:15):
And I couldn't find what theywere and what the differences
were For the rules of theirdoing loans and business it
makes it all right.
Speaker 2 (07:24):
They're not announcing that it's probably an
internal process, that they'renot they're either there's no,
they don't see a need for thepublic to know them, or they're
like nah, somebody's gonnacomplain about that.
Speaker 3 (07:35):
Let's keep this internally I think there's a
thing with freddie and fanny,the DOJ, and they're working
through some concerns with thosetwo organizations.
So keep your eyes out on therequirements, because I know
they have upped the amount ofmoney for an initial loan.
Say that I'm going throughFreddie or Fannie and instead of
(08:00):
whatever it was before, it'sgoing to be like 806,000 or
something like that that they'regoing to be willing to loan out
.
So I think they've raised it,but it's going to be like
different stuff and they're alsogoing to be able to look at
renter's history, I believe, tobe able to get a loan to
somebody, because that makessense to me.
You've been paying rent for 15freaking years and you don't
(08:22):
think you can pay a mortgage.
Why would you not include thatin the first place?
Speaker 2 (08:26):
Yeah, that's a good change if they do add your
rental history From what I'veseen and once again, I haven't
been able to find everything.
Speaker 3 (08:35):
I'm not a loan officer, so make sure that
you're talking to loan officers,because I think a lot of this
stuff is going to be changing ona daily basis and you're going
to need to keep up for yourclients so that you know the
best way to help them and thebest type of loan person to give
them to.
Speaker 2 (08:53):
Yeah, there's.
There's so many loan programsout there.
I remember sitting down havingcoffee with a loan officer years
ago.
He had like 80 differentprograms.
Right, I mean down havingcoffee with a loan officer just
years ago.
He had like 80 differentprograms.
I don't know how a single loanofficer can know all those
things.
So I'm hoping loan officers canput in your potential buyers
(09:15):
like stats or all theirinformation and they have some
system to go hey, here's all thepotential programs they could
possibly use.
That would be fantastic if theyhad that.
If you're a loan officer andyou have that, I would totally
let everybody know that you havethis program to find the best
program for them.
I've never heard a loan officertalking about that.
Speaker 3 (09:34):
No, but that would be very good.
So if you don't have that hint,hint, hint, that might be a
good thing to do.
Speaker 2 (09:41):
Or if you're an agent , go hey, I have a loan officer
that can research and find allthe programs that for loans,
that that may be the best foryou.
Well, I've always been underthe impression, instead of going
to the bank and it's only theirone loan, two loans that they
give out.
Speaker 3 (09:57):
But still, even some loan officers only deal with
certain loans.
I don't know of any one loanofficer that deals with all of
the different kinds, so you needto find one that's got a good
range for the clientele that youwork with.
Speaker 2 (10:11):
Because that's what it's going to come down to.
It would be hard to know allthose.
Speaker 3 (10:14):
Right and trying to figure that out and remember
that that's crazy.
Speaker 2 (10:18):
That would be difficult, that's too, much.
Speaker 3 (10:20):
So those were the big ones.
There's a lot of changes coming.
There's also something aboutprivate listings, and so this
has been a huge debate.
Apparently, zillow is notallowing private listings, like
(10:41):
certain private listings, Ibelieve, on Zillow, and the ones
that aren't allowed on Zillow,homescom has said, well heck,
we're going to put those on forour people.
So if you can't list somethingon Zillow, go to homescom,
because I think you can list itthere.
So there's this huge debateabout private listings.
And is it enough transparency?
(11:01):
Is it hurting the client, theseller?
And so that's another hugedebate that's going on within
the real estate industry.
Speaker 2 (11:10):
If we were a seller and say we moved out of the
house, the house is vacant,right?
I, I would not want somebody toknow I would be a little more
timid about putting the house uppublicly.
Speaker 3 (11:24):
That's for sale well we did, because from
mechanicsburg, yeah well, we hadthe agent living in town and
she would come we had check onit.
Speaker 2 (11:31):
We had people who could watch the house.
Speaker 3 (11:33):
Right.
Speaker 2 (11:34):
Because you go publicly.
Hey, my house is for sale.
Here's a public listing on anMLS.
Here's a photo showing itvacant.
Speaker 3 (11:44):
If I was a thief, but how does the thief get access
to the MLS?
Because that's just supposed tobe real estate agents.
Well, yeah, but MLS posts thosethings in other places well,
that's true, so you'd have to gothrough and search so I would.
Speaker 2 (11:58):
I'd be like, oh, here's a new list.
If I was a thief, here's,here's a house for sale, okay, I
can see they listed.
Look look at there's new, uh,new appliances, new furnace, new
kitchen cabinets.
Kitchen cabinets do not haveserial numbers.
I could go in there and I cansee that it's a vacant house
because of all the photos inthere.
That's the house that if I wasa thief I would probably target,
(12:19):
versus the one that all right,I see it's occupied.
You got like no.
So if I was say we had a reallysuper nice house, really nice
things in there, and it's vacantright now, I would not that
publicly listed.
I think as a seller you shouldbe allowed to choose you want
private listing or not, becauseI would not want everybody
(12:39):
coming in the house.
Speaker 3 (12:40):
I'd want people hey, only serious people that the
agent may be vetted coming in totake a look do you remember
like the the first year ever wehave gone in and two of the
houses that we were to inspecthad people that had moved in?
they had squatters in there yeswe weren't able to go in and the
(13:01):
one company when I called totalk to the listing agent and I
can't remember what company thiswas, but she said she works
across the country.
She's she's a licensed realestate agent across the country
for this company and that ohiowas the worst company that she
had to deal with yeah, the theworst state to deal with in
(13:21):
terms of squatters, and thatthere were more squatters in
ohio just taking over housesthan other areas of the country
and I.
Speaker 2 (13:30):
That seems very bizarre to me, but we we've had
a couple houses where we go inor had that before doing
inspection.
Like holy crap, there'ssquatters in here and this is a
big problem in other otherstates as well, where the police
are like no, we can't, we can'tkick them out.
Tenants, tenants, rights.
I'm like wait, there's notenant.
Speaker 3 (13:49):
There's no signed agreement which is infuriating
to me.
Well, remember when we had thatone house that we didn't sell
because we couldn't sell it inToledo.
Yes, and so we had a rentalagreement with this woman who
moved some bippity, boppity dudein with her.
Speaker 2 (14:07):
They were an old boyfriend, old boyfriend or
something, I have no idea.
But she left him.
Speaker 3 (14:11):
She left him and she moved out, but he was still
there and he wouldn't move out.
Speaker 2 (14:16):
And we couldn't.
Speaker 3 (14:17):
We couldn't evict him , like we had to go through the
court system to be able to evicthim, in spite of the fact we
had no agreement with him.
We didn't know he was livingthere, and I think there does
need to be a change forlandlords to help protect them
more in terms of squatters andpeople that don't belong in the
(14:37):
house.
If you don't have a signedcontract, your butt needs out.
You should not have to gothrough court for that, because
you're coming in and that'ssomething illegal that you're
doing.
You are there illegally.
Speaker 2 (14:47):
Oh yeah, and they know it, and they know it.
So, so really it's I'm callingit a great pushback where buyers
are not like nope, I'm notgonna buy that, I'm not gonna
pay this much.
First interest fed needs.
Lower the interest, that'd be,that'd be nice we'll see how
that everybody out yeah sointerest rates have really not
come down that much.
Speaker 3 (15:08):
I have heard some interest rates are good, some
some areas are dropping themI've heard down to like six and
a half percent now, okay, I'veheard down to like 6.5%.
Speaker 2 (15:15):
Now Okay, I've heard lower than that even.
Speaker 3 (15:17):
Oh, okay, whatever I read this morning was 6.5%.
I think it was a builder wasgiving that yeah, builder was
doing what Three or four we?
Speaker 2 (15:24):
heard Something like that.
Speaker 3 (15:24):
Yes, yes so new builds are lower interest even.
Speaker 2 (15:28):
So, but yeah, buyers just aren't going to deal with
that.
They're more aware of moldissues and new builds, which I
don't know if we have done apodcast on that.
We need to do that one.
I think we did, but anyway.
Speaker 3 (15:42):
Well, in flipped houses, like the lawsuit in
Alliance, yeah, we talked aboutthat one, where they bought a
house without an inspection andthey're looking at $323,000
worth of repairs.
Speaker 2 (15:54):
Yep.
So, laura, if you are a realestate agent and you know
there's pushback from buyersbecause they're not cave in
Right, one of the problem is thesellers.
If they got really niceinterest rates say 3%, it's hard
to move someplace and pay ahigher interest rate.
Yes, that's one issue 3%, it'shard to move someplace and pay a
higher interest rate.
That's one issue, but it seemslike in Arizona, and it's here
(16:18):
as well the buyer is like no, no, no, my house is totally worth
$500,000.
When it's like no, it's worthmore like $425,000.
Speaker 3 (16:26):
Or $325,000.
Speaker 2 (16:30):
It's not a seller's market right now.
Speaker 3 (16:32):
It is starting to change.
It's getting a little bit morebalanced.
Speaker 2 (16:34):
It's definitely more balanced than what it was.
If you were a real estate agentand you had to deal with this
environment, what would you do?
Well, first of all, it's notjust that.
Speaker 3 (16:50):
It's the negotiation of your commission as a buyer's
agent, because a lot of peopleare having trouble with that.
I'm seeing a lot of posts onFacebook you know how do I have
this conversation.
Or you know, a friend waslisting a $3 million house and
he only wanted to pay me point5% and I'm like no, my
commission is this.
And he went with another agent,so you just lost that
(17:11):
commission.
So I understand that, but thereneeds to be a balance of what
your commission is and what youoffer to a client.
You need to stand out so thatyou can go to your client.
No, I am worth this.
This is what I will do for you.
It's like $17,000.
Speaker 1 (17:34):
I think is what somebody said Okay.
Speaker 3 (17:37):
I would have taken that as a commission on a $3
million house.
Speaker 2 (17:41):
Yeah, it's 0.5% right .
Yeah, yeah, $15,000.
I may be wrong on this.
I've never been a real estateagent, but I think the paperwork
to sell a $3 million house isthe exact same paperwork to sell
a $200,000 house.
Speaker 3 (17:59):
I'd rather get the higher commission from the
higher priced house.
Speaker 2 (18:05):
There's a whole other topic Agents.
You need to know your numbers.
If you know your averageexpenses per house they cost you
let's just say $2,000.
Okay, of marketing and expensethat you have in each house on
average, then you know youcannot sell.
Your commission has to be atleast that amount.
Speaker 3 (18:24):
So it's just a break even figure out your math.
And then cause that that wouldhave been worth it for that
agent but, that agent didn't doit, so they lost 17, 15,000, but
being able to go to your clientwell, this is what I offer.
That other agents don't.
I think is going to becomeparamount in this next few years
(18:48):
, Because if you don't stand out, why would anybody choose you
at this point?
Speaker 2 (18:53):
Yep.
Yep so it's something thatother people cannot copy right,
which is going to be yourconnections.
Speaker 3 (19:00):
You cannot copy your connections, your relationships
there was a statistic I sawwhere people were getting um
like from past clients, friends,relatives, like those numbers
are jumping up for real estateagents in terms of how they are
(19:23):
being able to do transactions.
Speaker 2 (19:25):
How to find new clients.
Maybe how to find clients.
Speaker 3 (19:28):
So I need to look back through and see if I can
find that stat and then maybeone of our future podcasts we
can talk about that.
Speaker 2 (19:35):
Yeah, and you get referrals from taking good care
of your past clients.
Speaker 3 (19:39):
Right.
Speaker 2 (19:43):
And being somewhat reasonable within the fee you
can't expect because becausesomebody's your friend, you can
double the the expense, yourcommission, and think they're
gonna jump on that jump on that.
They're gonna like dude.
He's trying to take advantageof our friendship and like no,
that's not good.
So be reasonable on the fee, ofcourse, but you need to know
your numbers and and your worth.
But fifteen thousand dollarcommission, that's I understand.
(20:11):
That's less than the thirtythousand you may have hoped,
hoped for, or forty fivethousand, but if your expenses
are only two,000 per transactionthat you actually complete,
you're making money.
It's worth it, especially whenthe sales are lower.
The number of transactions arelower than they have been in
(20:31):
previous years.
So, laura, I think that's aboutit for this one.
Speaker 3 (20:33):
Yep, I think you're right.
No, just that was it.
Speaker 2 (20:35):
All right, thank you, everybody.
Speaker 3 (20:36):
Bye All right, bye-bye.
Speaker 4 (20:46):
You've been listening to the Standing Out in Ohio
podcast.
Be sure to subscribe on Spotifyor Google Podcasts to get new,
fresh episodes.
For more, please follow us onInstagram, twitter and Facebook,
or visit the website of thebest Ohio home inspection
company, home Inspection Companyat homeinspectionsinohiocom or
jimtroffcom.
That's J-I-M-T-R-O-T-H.
(21:06):
And click on podcast.
Until next time, learn and godo stuff.
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