April 10, 2024 • 14 mins
Discover the ins and outs of the recent seismic shift in real estate with Cody Jones from the Greater Tyler Association of Realtors, as he unpacks the implications of the National Association of Realtors' massive $418 million legal settlement. East Texas's property market faces a new dawn as this conversation illuminates the nuances of broker commissions, the value of buyer's agents, and the potential stumbling blocks in current real estate transactions. With a settlement that could redefine the roles and rewards of Realtors, Cody offers a clarion call to buyers and sellers alike: stay informed, be represented, and remain alert to the evolving landscape.
Cody also takes a deep dive into the heart of home ownership dreams and the sobering realities of today's market. He explains why millennials are taking longer to cross the threshold into their own homes and the economic forces contributing to the housing affordability crisis. He also lends his expertise on how Tyler's market is faring amidst these headwinds, providing hope for equity builders and those crafting their professional support networks. If navigating the ins and outs of real estate transactions feels overwhelming, this discussion with Cody Jones is your compass to clearer understanding and smarter decision-making.
(Show notes are automatically generated and may contain phonetic spellings and other spelling and punctuation errors. Grammar errors contained in the original recording are not typically corrected.)
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
LANDESS (00:04):
While not admitting any wrongdoing, the National
Association of Realtors agreedto pay a $418 million fine
regarding broker commissionpolicies.
I'm Mike Landis.
Ut Tyler Radio connects withCody Jones of the Greater Tyler
Association of Realtors to findout how this will affect East
Texas.
Can you give us a cliff notesynopsis of what this antitrust
(00:25):
concern?
JONES (00:26):
was.
Well, this was ultimately acase about commission rates, and
the allegation was that 6% wassomething that was wrong.
It was something that was bad.
If you look at how these thingsare typically broken down,
though, you're talking aboutthat split between both the
buyer's side and the seller'sside.
If 6% were the amount thatwe're talking about, that is
(00:49):
further broken down between thebuyer's side broker, the buyer's
side agent, the seller's sidebroker and the seller's side
agent.
How it's going to affectconsumers and sellers is, I
think it's going to confusebuyers to what the value of a
buyer's agent is, confuse buyersto what the value of a buyer's
agent is, and I think we may beprone to seeing more buyers
enter into the market withoutthat proper representation
(01:10):
because maybe they think now, oh, I don't need a buyer's agent
anymore, I can save that money.
And that's going to be a worldof hurt for those buyers to not
have a professional realtor bytheir side in what's going to be
one of the largest, if not thelargest, financial transaction
of their life and what's goingto be one of the largest, if not
the largest, financialtransaction of their life On the
flip side, for the sellers andthis is really more so where it
hurts, like our association andour MLS, because one of the
(01:35):
requirements of this settlementis to remove the compensation
fields from the MLS.
It's going to make it moredifficult and a more timely
process.
There's going to have to bemore direct communication to
where these realtors that arerepresenting buyers are going to
have to go.
Where is the compensationcoming from on some of these
deals and that's just going toslow down the entire transaction
(01:58):
process, which means thatsellers aren't going to be able
to turn their houses quite asquickly as it can.
LANDESS (02:09):
And, depending on what their situation is, time is
money.
Well, what do Tyler Realtorshave to say about all this?
Surely there's a lot ofdiscussion about how it's going
to affect their livelihoods.
JONES (02:14):
The vast majority of members that I speak with.
They do not see this as a verysubstantive change because it's,
for starters, we're in verymuch a holding period.
This is simply a proposedsettlement.
It's going to take about one ortwo months for this to go to
the courts and for the courts toaccept that.
And from what I'm hearing outof contacts with the National
Association of Realtors is thatwe are going to be we, the
(02:34):
associations are going to begiving a very specific, far more
detailed appendix than what'scurrently available out there
now of exactly what it is wehave to comply with within the
next 60 days Guidelines Correct.
Where this gets even morecomplicated is that the US
Department of Justice can leanin at any point during all this
and they can object to thesettlement, and that could throw
(02:55):
a large wrench into how all ofthis turns out.
So there's a certain amount ofcaution on part of some of the
larger brokerages, on part ofmyself, the association of well,
let's just wait and see exactlyhow this is all going to turn
out, but there's a lot ofpractices that are there's a lot
of things that are highlightedthroughout the settlement that
are now prohibited, that havealready been sort of the
(03:16):
standard practice everywhere.
Same as I mentioned.
There is no standard commission.
There's now going to be arequirement for buyer's
agreement.
There's a lot of realtors outthere that are already
practicing using those veryagreements Not all of them.
I actually talked to a veryexperienced realtor just the
other day in my office thattraditionally did not operate
using these buyer's agreementsand he said I'm going to have to
(03:39):
start doing this now and that'sokay.
So it's not going to be anylarge substantive changes.
Some of the reports that I'veseen that we're going to move to
a British or an Australianstyle of commission structure,
to where it's, you know, one tothree percent are averages that
(04:00):
you see there.
I don't see anything like thatbecause there's a different
amount of equity in the Americanhousing market that we just
don't have anywhere else andthere's different licensure
requirements and a lot moreprofessionalism baked into the
licensed real estate agents andtechnologies.
A lot of that is what feedsinto why the American housing
(04:21):
market is so strong and is sorobust and that's what also
equates to why those commissionsmay appear higher than in
comparative markets.
LANDESS (04:32):
Well, I saw a quote that said and this is the quote
the NRA settlement moves theindustry closer to the
Amazonification of housing, withvirtual tours online and now AI
evolving.
Are there realtors who areafraid that they're going to
become marginalized or evenredundant?
JONES (04:49):
That's something that we've been seeing for a long or
as far as a conversation piece.
I've been hearing that foryears and years now, from when
Zillow first got out there inthe world that, oh, the day is
going to come where you can buya house on a website one day.
Well, similar to you know,carvana was a thing and that's
also not been the mostsuccessful thing, and there are
(05:11):
a number of virtual real estateportals and other companies that
they've attempted models andthey've not always been the most
successful or they've had toscale back what they've done.
The most tried and true methodis having a professional realtor
.
I've had to scale back whatthey've done.
The most tried and true methodis having a professional realtor
.
Now, relative to, like,artificial intelligence, and
there are things that we'relooking at acquiring for our
association and in our MLS toimprove the listing process.
(05:33):
This will particularly benefitsellers in the market, but it
will also provide a little bitmore information for the buyers
too.
What I teach a lot of ourmembers is you're not going to
be replaced by technology.
You're not going to be replacedby AI.
What you might be replaced byis another realtor who is being
(05:55):
more adaptive with technology,who is being more adaptive with
AI, and it's all a matter of.
This is a new tool.
You either have to keep up withthe times or possibly relegate
yourself to what happens to thefolks that don't keep up with
the times.
LANDESS (06:08):
Back to the NAR settlement for a moment.
We mentioned that the courthasn't accepted it yet, but if
they do, what's your predictionas to what home buying might
look like in East Texas goingforward?
JONES (06:20):
I think in the short term you're going to see a little
bit of uncertainty on both sidesbecause there's so many
consumers out there.
They see what's reported butthey just truly don't know what
it means.
So I believe there'll be thispause where there's this
conversation with their realtorwhether they're on the buyer
side or seller side of what doesthis actually mean for me?
And you may see some buyersthat go oh, I'm going to wait a
(06:43):
couple of months and just seehow this works out.
Same thing with sellers being alittle bit more specific.
The most realistic thing that Isee changing is that you will
see buyers' agents having toexpress their value far more on
the front end to secure thosebuyer representation agreements,
(07:04):
because those are going to berequired before you ever take a
buyer to go tour for a home.
And so that's for.
I had mentioned earlier, thereare already some realtors that
are that's exactly how.
They're already engaging inbuyers and they're ready to go.
And there's other buyers agentsthat they're good at
communicating their value.
They're just going to have toget a little bit better, a
little bit sharper on it.
But the last component thereare going to be some of those
(07:27):
buyers agents that are justgoing to struggle on discussing
what their value proposition is,and that's where really the
association and their brokersstep in.
Nar offers a program called theAccreditor Buyers
Representation Course.
It's a designation through theNational Association of Realtors
.
It's actually offered for freethrough the National Association
of Realtors right now and we'relooking at offerings partnering
(07:50):
with the Texas Realtors to dothe same for our members.
LANDESS (07:53):
So Tyler gets national recognition as one of the best
places to live in America.
We have the UT Tyler MedicalSchool, bringing in new
residents.
Local businesses are expanding,new businesses are coming in.
Interest rates are still achallenge, but what's your
prediction for an average homeprice in Tyler by this time next
year?
JONES (08:10):
Anyone that can predict with any accuracy what the home
prices are in the future issomebody that stands to make a
lot of money and somebody farmore intelligent than I am.
Everything that I have prettyregular conversations with, the
National Association of Realtorschief economist his name is
Lawrence Yoon and then there area number of other economists
(08:31):
that specialize a little bitmore in the East Texas market.
Overall, I predict a gain.
My biggest concern is and thisgets a little bit out of
business news and possibly morepolitical news but I predict
that, regardless of what one'spolitical stripe is that the
election season is going to be atime of uncertainty and I think
(08:52):
that's going to have some realeffect on the markets and I
think that's going to have somecontinued effect on real estate
prices.
But once we get throughwhatever is going to necessarily
come out of that, I believeyou're going to see a lot more.
You're going to continue to seesome normalization of prices.
The overall trend is upward butyou're not going to see just
the absolute blistering hotmarket that was COVID.
(09:14):
That wasn't an anomaly.
LANDESS (09:15):
Where is the next generation of homebuyers going
to come from?
I mean, research says manymillennials have given up on the
idea of buying a home and rightnow it seems like there are
more apartments that are goingup these days than private homes
.
That's my observation.
Feel free to disabuse me ofthat notion if I'm wrong at
homes.
JONES (09:31):
That's my observation.
Feel free to disabuse me ofthat notion if I'm wrong.
Well, one thing is there is astrong and I mean just an
incredibly strong desire forhousing.
Everybody wants a piece of theAmerican dream and that's a
little bit what gets us intothis supply and demand.
It's what gets us a little bitinto these rising home prices.
There is far more demand thanthe supply currently allows.
(09:52):
There are a lot of things thatfeed in that.
Home building has alwayshistorically and it makes sense
if you look at it from abuilder's standpoint building
always lags a little bit behinddemand, because you never want
to overbuild because thenobviously you can't sell
something.
Build because then obviouslyyou can't sell something.
(10:13):
But when we got into thefinancial crash of 08, there was
just a stoppage of building.
That didn't happen and it tookyears to get.
We're still not caught up tothat point.
That added to the fact thatthere are labor constraints you
hear about this all the timethat we have shortage of certain
trades.
That affects how fast we canget things done and when it gets
(10:35):
back to keeping housesaffordable, roughly depending on
the market that you're in,roughly 26 to about 36 percent
of the cost of new homeconstruction is it's regulatory,
and the vast majority of thattwo-thirds of that is state and
local regulations.
Things like saying that if youbuild something in this county
(10:57):
not Smith County in particular,but I'm just using a
hypothetical county If you buildsomething in a particular
county that it has to be builtall out of brick siding, well, a
brick house is a very nicehouse.
I grew up in a brick house.
I currently live in a brickhouse in Flint.
I love living in.
A brick house is a very nicehouse.
I grew up in a brick house.
I currently live in a brickhouse in Flint.
I love living in a brick house.
But it's a more expensivebuilding material and those
kinds of sometimes frivolousrequirements, whether they're
(11:21):
from HOAs or whether they'refrom local government, they
drive up what type of houses canbe built on that land, and land
is a finite resource that'sgetting more and more expensive
by the day as well.
That's what's ultimatelydriving up some of these
affordable housing issues.
So it's a mixture betweenregulatory inflation and also
(11:45):
this supply and demand issuethat we have supply and demand
issue that we have.
But going back to your originalquestion of where these
homebuyers are going to comefrom.
I think, as you see, atransition from what's called
the boomer generation startingto retire and new economic
opportunity opening up for someyounger folks.
As those younger millennialgenerations get a little bit
(12:09):
further in their career, theirearnings power increase where
traditionally we've wanted tosee these folks become
homebuyers and, you know, getout from mom and dad, become
homebuyers in their early 20s,when they're out of college.
LANDESS (12:20):
Get out of my basement, yeah, get out of their basement
.
JONES (12:22):
You're seeing that happening a little bit more in
their early 30s to mid-30s andyou know Realtors Association
would love to see you know morebuyers at an early age.
But the way the economy isworking out, that's just you
know that's just what it is.
LANDESS (12:40):
Any final thoughts to share, cody, about the real
estate market as you see it forthe future here in Tyler, the
biggest thing that I see stayingconsistent.
JONES (12:46):
That's always stayed consistent, while there is
always uncertainty If it.
There is always uncertainty ifyou're a seller and you're
concerned on getting top dollarfor your house so you can make
whatever that next stage of lifedecision it is you're making.
Or if you're a buyer enteringthe market for the very first
time and you think that, well,maybe not now, maybe I need to
(13:07):
wait later.
If you are looking at anopportunity to buy before it
gets any more expensive, tostart building that equity now,
right now, themselves with thebest affiliates several of them
(13:32):
that are members, whether it'sin the lending profession,
inspectors, whatever or ifthere's any sort of work that
has to go on that house to makeit move-in ready, they know who
those people are Building thatteam around you, starting with
that chosen realtor professionalwho is licensed, who is code of
ethics bound to serve your bestinterests, not their best
(13:52):
interests and who practices allthese things to serve at the
most expert level that theycould.
That is the best time to buy orsell a house now, if that's the
decision that you're looking at, and the best way to do it is
with a professional realtor thathas not changed.
LANDESS (14:08):
Thanks for listening as UT Tyler Radio connects with
Cody Jones of the Greater TylerAssociation of Realtors.
For UT Tyler Radio News, I'mMike Landis.
While not admitting any wrongdoing, the National
Association of Realtors agreedto pay a $418 million fine
regarding broker commissionpolicies.
I'm Mike Landis.
Ut Tyler Radio connects withCody Jones of the Greater Tyler
Association of Realtors to findout how this will affect East
Texas.
Can you give us a cliff notesynopsis of what this antitrust
(00:25):
concern?
JONES (00:26):
was.
Well, this was ultimately acase about commission rates, and
the allegation was that 6% wassomething that was wrong.
It was something that was bad.
If you look at how these thingsare typically broken down,
though, you're talking aboutthat split between both the
buyer's side and the seller'sside.
If 6% were the amount thatwe're talking about, that is
(00:49):
further broken down between thebuyer's side broker, the buyer's
side agent, the seller's sidebroker and the seller's side
agent.
How it's going to affectconsumers and sellers is, I
think it's going to confusebuyers to what the value of a
buyer's agent is, confuse buyersto what the value of a buyer's
agent is, and I think we may beprone to seeing more buyers
enter into the market withoutthat proper representation
(01:10):
because maybe they think now, oh, I don't need a buyer's agent
anymore, I can save that money.
And that's going to be a worldof hurt for those buyers to not
have a professional realtor bytheir side in what's going to be
one of the largest, if not thelargest, financial transaction
of their life and what's goingto be one of the largest, if not
the largest, financialtransaction of their life On the
flip side, for the sellers andthis is really more so where it
hurts, like our association andour MLS, because one of the
(01:35):
requirements of this settlementis to remove the compensation
fields from the MLS.
It's going to make it moredifficult and a more timely
process.
There's going to have to bemore direct communication to
where these realtors that arerepresenting buyers are going to
have to go.
Where is the compensationcoming from on some of these
deals and that's just going toslow down the entire transaction
(01:58):
process, which means thatsellers aren't going to be able
to turn their houses quite asquickly as it can.
LANDESS (02:09):
And, depending on what their situation is, time is
money.
Well, what do Tyler Realtorshave to say about all this?
Surely there's a lot ofdiscussion about how it's going
to affect their livelihoods.
JONES (02:14):
The vast majority of members that I speak with.
They do not see this as a verysubstantive change because it's,
for starters, we're in verymuch a holding period.
This is simply a proposedsettlement.
It's going to take about one ortwo months for this to go to
the courts and for the courts toaccept that.
And from what I'm hearing outof contacts with the National
Association of Realtors is thatwe are going to be we, the
(02:34):
associations are going to begiving a very specific, far more
detailed appendix than what'scurrently available out there
now of exactly what it is wehave to comply with within the
next 60 days Guidelines Correct.
Where this gets even morecomplicated is that the US
Department of Justice can leanin at any point during all this
and they can object to thesettlement, and that could throw
(02:55):
a large wrench into how all ofthis turns out.
So there's a certain amount ofcaution on part of some of the
larger brokerages, on part ofmyself, the association of well,
let's just wait and see exactlyhow this is all going to turn
out, but there's a lot ofpractices that are there's a lot
of things that are highlightedthroughout the settlement that
are now prohibited, that havealready been sort of the
(03:16):
standard practice everywhere.
Same as I mentioned.
There is no standard commission.
There's now going to be arequirement for buyer's
agreement.
There's a lot of realtors outthere that are already
practicing using those veryagreements Not all of them.
I actually talked to a veryexperienced realtor just the
other day in my office thattraditionally did not operate
using these buyer's agreementsand he said I'm going to have to
(03:39):
start doing this now and that'sokay.
So it's not going to be anylarge substantive changes.
Some of the reports that I'veseen that we're going to move to
a British or an Australianstyle of commission structure,
to where it's, you know, one tothree percent are averages that
(04:00):
you see there.
I don't see anything like thatbecause there's a different
amount of equity in the Americanhousing market that we just
don't have anywhere else andthere's different licensure
requirements and a lot moreprofessionalism baked into the
licensed real estate agents andtechnologies.
A lot of that is what feedsinto why the American housing
(04:21):
market is so strong and is sorobust and that's what also
equates to why those commissionsmay appear higher than in
comparative markets.
LANDESS (04:32):
Well, I saw a quote that said and this is the quote
the NRA settlement moves theindustry closer to the
Amazonification of housing, withvirtual tours online and now AI
evolving.
Are there realtors who areafraid that they're going to
become marginalized or evenredundant?
JONES (04:49):
That's something that we've been seeing for a long or
as far as a conversation piece.
I've been hearing that foryears and years now, from when
Zillow first got out there inthe world that, oh, the day is
going to come where you can buya house on a website one day.
Well, similar to you know,carvana was a thing and that's
also not been the mostsuccessful thing, and there are
(05:11):
a number of virtual real estateportals and other companies that
they've attempted models andthey've not always been the most
successful or they've had toscale back what they've done.
The most tried and true methodis having a professional realtor
.
I've had to scale back whatthey've done.
The most tried and true methodis having a professional realtor
.
Now, relative to, like,artificial intelligence, and
there are things that we'relooking at acquiring for our
association and in our MLS toimprove the listing process.
(05:33):
This will particularly benefitsellers in the market, but it
will also provide a little bitmore information for the buyers
too.
What I teach a lot of ourmembers is you're not going to
be replaced by technology.
You're not going to be replacedby AI.
What you might be replaced byis another realtor who is being
(05:55):
more adaptive with technology,who is being more adaptive with
AI, and it's all a matter of.
This is a new tool.
You either have to keep up withthe times or possibly relegate
yourself to what happens to thefolks that don't keep up with
the times.
LANDESS (06:08):
Back to the NAR settlement for a moment.
We mentioned that the courthasn't accepted it yet, but if
they do, what's your predictionas to what home buying might
look like in East Texas goingforward?
JONES (06:20):
I think in the short term you're going to see a little
bit of uncertainty on both sidesbecause there's so many
consumers out there.
They see what's reported butthey just truly don't know what
it means.
So I believe there'll be thispause where there's this
conversation with their realtorwhether they're on the buyer
side or seller side of what doesthis actually mean for me?
And you may see some buyersthat go oh, I'm going to wait a
(06:43):
couple of months and just seehow this works out.
Same thing with sellers being alittle bit more specific.
The most realistic thing that Isee changing is that you will
see buyers' agents having toexpress their value far more on
the front end to secure thosebuyer representation agreements,
(07:04):
because those are going to berequired before you ever take a
buyer to go tour for a home.
And so that's for.
I had mentioned earlier, thereare already some realtors that
are that's exactly how.
They're already engaging inbuyers and they're ready to go.
And there's other buyers agentsthat they're good at
communicating their value.
They're just going to have toget a little bit better, a
little bit sharper on it.
But the last component thereare going to be some of those
(07:27):
buyers agents that are justgoing to struggle on discussing
what their value proposition is,and that's where really the
association and their brokersstep in.
Nar offers a program called theAccreditor Buyers
Representation Course.
It's a designation through theNational Association of Realtors
.
It's actually offered for freethrough the National Association
of Realtors right now and we'relooking at offerings partnering
(07:50):
with the Texas Realtors to dothe same for our members.
LANDESS (07:53):
So Tyler gets national recognition as one of the best
places to live in America.
We have the UT Tyler MedicalSchool, bringing in new
residents.
Local businesses are expanding,new businesses are coming in.
Interest rates are still achallenge, but what's your
prediction for an average homeprice in Tyler by this time next
year?
JONES (08:10):
Anyone that can predict with any accuracy what the home
prices are in the future issomebody that stands to make a
lot of money and somebody farmore intelligent than I am.
Everything that I have prettyregular conversations with, the
National Association of Realtorschief economist his name is
Lawrence Yoon and then there area number of other economists
(08:31):
that specialize a little bitmore in the East Texas market.
Overall, I predict a gain.
My biggest concern is and thisgets a little bit out of
business news and possibly morepolitical news but I predict
that, regardless of what one'spolitical stripe is that the
election season is going to be atime of uncertainty and I think
(08:52):
that's going to have some realeffect on the markets and I
think that's going to have somecontinued effect on real estate
prices.
But once we get throughwhatever is going to necessarily
come out of that, I believeyou're going to see a lot more.
You're going to continue to seesome normalization of prices.
The overall trend is upward butyou're not going to see just
the absolute blistering hotmarket that was COVID.
(09:14):
That wasn't an anomaly.
LANDESS (09:15):
Where is the next generation of homebuyers going
to come from?
I mean, research says manymillennials have given up on the
idea of buying a home and rightnow it seems like there are
more apartments that are goingup these days than private homes
.
That's my observation.
Feel free to disabuse me ofthat notion if I'm wrong at
homes.
JONES (09:31):
That's my observation.
Feel free to disabuse me ofthat notion if I'm wrong.
Well, one thing is there is astrong and I mean just an
incredibly strong desire forhousing.
Everybody wants a piece of theAmerican dream and that's a
little bit what gets us intothis supply and demand.
It's what gets us a little bitinto these rising home prices.
There is far more demand thanthe supply currently allows.
(09:52):
There are a lot of things thatfeed in that.
Home building has alwayshistorically and it makes sense
if you look at it from abuilder's standpoint building
always lags a little bit behinddemand, because you never want
to overbuild because thenobviously you can't sell
something.
Build because then obviouslyyou can't sell something.
(10:13):
But when we got into thefinancial crash of 08, there was
just a stoppage of building.
That didn't happen and it tookyears to get.
We're still not caught up tothat point.
That added to the fact thatthere are labor constraints you
hear about this all the timethat we have shortage of certain
trades.
That affects how fast we canget things done and when it gets
(10:35):
back to keeping housesaffordable, roughly depending on
the market that you're in,roughly 26 to about 36 percent
of the cost of new homeconstruction is it's regulatory,
and the vast majority of thattwo-thirds of that is state and
local regulations.
Things like saying that if youbuild something in this county
(10:57):
not Smith County in particular,but I'm just using a
hypothetical county If you buildsomething in a particular
county that it has to be builtall out of brick siding, well, a
brick house is a very nicehouse.
I grew up in a brick house.
I currently live in a brickhouse in Flint.
I love living in.
A brick house is a very nicehouse.
I grew up in a brick house.
I currently live in a brickhouse in Flint.
I love living in a brick house.
But it's a more expensivebuilding material and those
kinds of sometimes frivolousrequirements, whether they're
(11:21):
from HOAs or whether they'refrom local government, they
drive up what type of houses canbe built on that land, and land
is a finite resource that'sgetting more and more expensive
by the day as well.
That's what's ultimatelydriving up some of these
affordable housing issues.
So it's a mixture betweenregulatory inflation and also
(11:45):
this supply and demand issuethat we have supply and demand
issue that we have.
But going back to your originalquestion of where these
homebuyers are going to comefrom.
I think, as you see, atransition from what's called
the boomer generation startingto retire and new economic
opportunity opening up for someyounger folks.
As those younger millennialgenerations get a little bit
(12:09):
further in their career, theirearnings power increase where
traditionally we've wanted tosee these folks become
homebuyers and, you know, getout from mom and dad, become
homebuyers in their early 20s,when they're out of college.
LANDESS (12:20):
Get out of my basement, yeah, get out of their basement
.
JONES (12:22):
You're seeing that happening a little bit more in
their early 30s to mid-30s andyou know Realtors Association
would love to see you know morebuyers at an early age.
But the way the economy isworking out, that's just you
know that's just what it is.
LANDESS (12:40):
Any final thoughts to share, cody, about the real
estate market as you see it forthe future here in Tyler, the
biggest thing that I see stayingconsistent.
JONES (12:46):
That's always stayed consistent, while there is
always uncertainty If it.
There is always uncertainty ifyou're a seller and you're
concerned on getting top dollarfor your house so you can make
whatever that next stage of lifedecision it is you're making.
Or if you're a buyer enteringthe market for the very first
time and you think that, well,maybe not now, maybe I need to
(13:07):
wait later.
If you are looking at anopportunity to buy before it
gets any more expensive, tostart building that equity now,
right now, themselves with thebest affiliates several of them
(13:32):
that are members, whether it'sin the lending profession,
inspectors, whatever or ifthere's any sort of work that
has to go on that house to makeit move-in ready, they know who
those people are Building thatteam around you, starting with
that chosen realtor professionalwho is licensed, who is code of
ethics bound to serve your bestinterests, not their best
(13:52):
interests and who practices allthese things to serve at the
most expert level that theycould.
That is the best time to buy orsell a house now, if that's the
decision that you're looking at, and the best way to do it is
with a professional realtor thathas not changed.
LANDESS (14:08):
Thanks for listening as UT Tyler Radio connects with
Cody Jones of the Greater TylerAssociation of Realtors.
For UT Tyler Radio News, I'mMike Landis.
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