October 17, 2024 • 32 mins
Ever felt trapped in a vacation that wasn't quite your style? That's exactly how Trish Williams felt on her recent cruise, humorously likening it to the infamous "Hotel California" experience. This sets the stage for our latest episode, where I, along with my co-host Tiana Carroll, dive into the quirks of cruising and how it relates to the current Las Vegas real estate scene. While cruising might not be for everyone, a stable inventory of homes and a significant drop in sales is something every prospective homeowner should be aware of. As election season looms, we talk about how this political climate is shaking up real estate decisions in Vegas.
In the world of real estate, not all contracts are guaranteed sales, a fact that becomes especially clear as we explore the erratic behavior of today’s empowered yet hesitant buyers. These dynamics can make sales processes tricky, but they also offer strategic learning opportunities for both buyers and sellers. We’re excited to share details about our festive community Trunk or Treat event, which promises a good time despite the windy weather forecast. Plus, we tackle listener questions about open houses, uncovering the reasons why realtors often promote other properties during these events to capture a wider audience.
Open houses can be a mixed bag, presenting both opportunities and challenges for real estate agents. From personal anecdotes to professional insights, we discuss how these events can lead to unexpected sales or serve as mere networking opportunities. The topic of solar panels also takes the spotlight, as we delve into the impact of leasing versus owning on home values. Whether you’re considering switching real estate agents or contemplating the addition of solar panels to your property, our episode is packed with valuable insights to keep you informed and entertained.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:16):
Hey Las Vegas, welcome back to Vegas Realty.
Check your local Las Vegas realestate news show.
I'm Trish Williams.
Speaker 2 (00:22):
And I'm Tiana Carroll .
Thanks for joining in andwelcome back you.
Speaker 1 (00:26):
How was your trip?
Oh, I'm glad to be home.
Speaker 2 (00:30):
That is not how you're supposed to respond after
a vacation.
After a vacation, you should belike I loved it so much.
I wish I was still there.
Speaker 1 (00:36):
Yeah Well, I was on a cruise ship and I've renamed
cruise ships in general HotelCalifornia.
You can check in, but you can'tleave.
Oh no, not my thing, not mything.
Speaker 2 (00:47):
You just felt a little claustrophobic on this
gigantic cruise ship.
Speaker 1 (00:52):
It's just a little stuck.
I just don't like being in asituation where, like, when I'm
done, I can't like, okay, I'mdone here, like you're just.
You're like, I got you.
Yeah, so great, some peoplelove it, I get it, whatever Not
my thing.
Yeah yeah, no, I like a cruise.
Yeah yeah, next time I'll go onthe cruise and you can stay
(01:13):
here.
Yeah, yeah, definitely, it'snot my thing.
I don't think I will ever bedoing a cruise again.
Speaker 2 (01:16):
Oh see, I love it, especially if you're traveling
with like multi-generations andyou can send kids here and
grandparents there and get offon a port, experience the town
for the day, get back on yourship, have some food, have a
show and then off to bed you go,unless you're a gambler, dancer
, degenerate like some of us.
Yeah, yeah.
Speaker 1 (01:34):
No, no, just not my thing, not my.
Thing.
I like to be in a situationwhere, if I'm not feeling it, I
could just go home.
Speaker 2 (01:43):
Well, I'm glad you know now, because the world of
traveling on planes and boatsand stuff is all fairly new to
you.
So I'm glad you're finding outwhat you like and don't like.
Speaker 1 (01:52):
Well, I did a cruise before.
That was three days and thatwas fine.
Yeah, it was just the seven-daything.
Too long, too much, way toolong.
Okay, for me long for me, allright.
Well, we are glad to have youback.
Yeah, thank you.
Thank you, I'm glad to be back,so glad to be back.
Wow, I've never been so glad tobe back Again.
Terrible way to come back froma vacation.
(02:15):
I just take the fun out ofeverything.
So not much has happened whileI was gone, so there's that?
Speaker 2 (02:22):
No, and I was really surprised, because usually when
somebody goes out of town thenthings go crazy, but there was
not a peep from you.
Speaker 1 (02:30):
Yeah, no, we got, um, you know, some showings on
listings.
Nothing, no big activity, justa you know sign of the market
that we're in.
We are 19 days away from thiselection and, oh my gosh, I
can't wait for it to be over.
Speaker 2 (02:44):
Slowest 19 days of our life.
Speaker 1 (02:46):
It's going to feel like Slowest 19 days of our life
.
So everyone's just grinningtheir teeth, standing on the
side.
What's going to happen?
Speaker 2 (02:57):
I'm not thinking about real estate yet and
everybody's got a theory aboutit, right yeah, it doesn't
matter which side people are on,right, they can be Republican
or Democrat there.
Speaker 1 (03:07):
If the other side wins, this is going to happen.
If it doesn't go their way, thesky will fall.
They are certain of that.
They are sure, yeah.
Speaker 2 (03:14):
And whichever way it goes, for those people who are
saying they're leaving thecountry, whichever way it goes,
let me know I'll help you withinternational sales.
Yeah, yeah, definitely.
Let me know help you withinternational sales.
Yeah, definitely.
Speaker 1 (03:24):
Let me know, definitely.
You know, I hear that everysingle election season I'm
leaving the country and neverseen nobody leave the country.
Speaker 2 (03:33):
No, I've never seen anybody leave the country.
For that reason, yeah.
Speaker 1 (03:36):
No, I haven't seen it happen yet, but I would
actually appreciate if weactually seen someone follow
through with what they say.
You're like rude, you can leavethe country I'm like, okay, do
it, let's see it happen let'ssee it happen.
Make the move, call your blood,they call the bluff.
Let's, let's see it happen.
That's funny all right.
Speaker 2 (03:54):
So, like we always start the show, we always,
besides our little banter, wealways also start with stocks.
You missed all of the uh.
I mean stocks numbers,inventory stock of the houses,
yeah, uh, yeah, not actual stockmarket stuff.
Um, we always start with thenumbers.
You missed the uh market updatelast month.
Speaker 1 (04:13):
I watched it last week.
I watched it from the ship.
You and Mia did a great job, sovery good, very good, gabs a
lot.
Speaker 2 (04:20):
Yeah, that's okay, but we'll go over some numbers
here get the uh audience incheck to what's happening this
week in Las Vegas real estatemarket.
So we have single family homes.
How many we've got?
Speaker 1 (04:29):
5,264.
So this is down about a hundredfrom last time I was here, two
weeks ago, yep.
So yeah, I wouldn't say that'sanything to celebrate, yeah, and
last week too, they're all justsort of staying steady.
Speaker 2 (04:44):
We're hovering in that 5,200 mark, which is
celebrate, yeah, and last weektoo.
They're all just sort ofstaying steady.
Speaker 1 (04:50):
We're hovering in that 5,200 mark, which is fine.
Yeah, our souls don't look good.
Speaker 2 (04:52):
Oh, our souls hurt my heart today.
I know Hurt my heart.
I was like 315.
Speaker 1 (04:56):
Yeah, ow yeah.
That's like no buyers out there, no one.
That that's just an indicatorthat there's not much happening
and that's just an indicatorthat there's not much happening.
Speaker 2 (05:03):
That is the bare bones of real estate right there
.
Speaker 1 (05:12):
And I wonder how much of that, because I know we have
a way of looking up the statsand we can get into that later,
but I'm assuming a majority ofthis 315 is investors.
Speaker 2 (05:20):
Because investors are still yeah those cash.
Speaker 1 (05:22):
Investors are still purchasing.
They're still stocking up.
I've spoken with a bunch ofthem.
They're stocking up andpreparing for after election
flood of buyers.
So I'm thinking that there'sprobably a high percentage of
this 315 that are investors andnot true homebuyers.
Speaker 2 (05:42):
Yeah, I'm going to have to agree with you on that
one, because we're not seeing aton and we have a few buyers who
are out there pre-qualified andshopping and doing their thing,
which is great, but it's notlike it should be with a stock
of 5,264 single family homes no,they had 315 closed sales last
(06:03):
week.
Speaker 1 (06:03):
Such a small percentage of that.
Speaker 2 (06:05):
Oh my gosh, that's almost five thousand homes that
didn't sell at this rate, thenwe have months and months and
months of stock, not just abalanced market yeah, not good.
And the price decreases havegone up.
Speaker 1 (06:21):
Yeah Well, of course the houses aren't selling.
Speaker 2 (06:23):
That's right.
So the next move is let's bringthose prices down.
Speaker 1 (06:27):
Yeah, the price decreases are up at $629.
Speaker 2 (06:30):
$629.
People this week were likelet's drop the price, yeah, yeah
.
Speaker 1 (06:37):
We're not getting any action.
Yeah, that's kind of your onlygo-to right now in a market like
this.
But even that, I have evenadvised a couple of my sellers
that I don't think a pricereduction right now is going to
do anything.
Speaker 2 (06:51):
I don't think a price reduction is going to do
anything just because there'snot activity on the market, and
if you just don't have buyers,you just don't have buyers.
Speaker 1 (06:59):
Yeah, you got to have buyers for those price
reductions to make an impact,and if there's no buyers out
there, you're just reducing fornothing.
We got to wait it out a fewweeks until we start getting
buyers in the market again.
Speaker 2 (07:12):
Yeah, and that's one of the things in real estate, in
any market, right?
It's constantly fluctuating anddifferent.
In a different market, we had5,000 homes.
We may not be seeing thoseprice reductions or advising
people to hang on.
We might be saying, hey, youneed to drop your price, these
homes are moving, but this lowamount of inventory, I mean this
(07:32):
low amount of sales, then it'salmost better just to hang on,
if you can, instead of droppingprices, which I never thought
I'd say.
Speaker 1 (07:42):
That's a weird thing for me to say.
That is usually not what weadvise but you've got to change
with the circumstances of theenvironment.
And the circumstances of theenvironment right now is that
there's not a lot of people outthere, so doing things like that
aren't going to make much of animpact.
And I hate to be like passiveand say wait it out.
But this is the time where youjust got to kind of just buckle
(08:03):
down, say wait it out.
But this is the time where youjust gotta kind of just buckle
down, wait it out, you know, andand let's get past real estate
in las vegas.
Speaker 2 (08:10):
Buckling down and waiting it out might be a matter
of weeks, you know.
Speaker 1 (08:14):
Yeah, it might be like three to five weeks into it
and be like, okay, we're goodand that's why I think we are, I
really think, even a coupleweeks, even a week after the
election, when people see thatthe sky didn't fall, the world
didn't implode that.
Speaker 2 (08:27):
Oh wait, that's not going to happen.
I don't have to have the worldimploding party now.
No, no, it's not.
Speaker 1 (08:33):
But I think it's going to happen pretty quickly
afterwards where people are justgoing to be like okay, it's
fine.
It's fine, like you know,whatever there may be a pity
party.
Like you know, whatever theremay be a pity party, you think
the world is going to get backto normal.
Yeah, there may be, like youknow, like you know, some people
(08:53):
cry and fuss and kicking theirfeet, but then they'll be like
okay, whatever it is, what it is.
Speaker 2 (08:58):
Yeah, you know we're moving on, we're moving on,
we're moving on.
Okay so, and then undercontracts.
Those are't hurt my heart theway the sold did, because if we
can get 493, I'm just going tosay 500.
Forget those other seven.
Speaker 1 (09:08):
500 under contract homes, that's good yeah that is
better, that's good-ish, betterthan the sold.
But then you have to factor inso many in markets like this
where it's like very weak, weak.
In markets like this, so manyhomes go under contract and then
the buyers are kind offrivolous and just cancel for
(09:31):
anything Like they sneezed inthe home, cancel.
Speaker 2 (09:35):
Yeah, yeah, yeah.
Speaker 1 (09:39):
They're really not that strong.
So we have to see at the end ofthe month what closes from
those other contracts.
Yeah, yeah.
Speaker 2 (09:46):
Which, um, I haven't seen.
I mean, I do agree that buyersright now frivolous is a really
good word they're uh sort offeeling like uh high on the hog
and they have their sort of pickup the litter when they go out
shopping and so every littlething, even when they get into
contracts, especially on thelike requests for repairs and
stuff, they're like, oh no, $400.
(10:08):
Let's cancel this $500,000transaction.
I'll be like, oh out, no, let'snot do that.
Speaker 1 (10:14):
Well, it's the mindset.
Buyers are scared too, becausethey're worried, like you know.
Am I buying at the right time?
Is this the right market?
Is this the good deal?
And I'm a strong believer.
This is a good deal and this isthe right time for a buyer to
get a good deal.
But when they see that they'rebuying and not everybody else's,
(10:37):
they're like wait a minute, whyis it just me out here?
You know, yeah.
Speaker 2 (10:40):
I thought that fear was just because it's spooky
season.
Speaker 1 (10:43):
Well, yeah, you know that too.
Speaker 2 (10:44):
You're all in the spooky season.
You got your orange on.
You're preparing for Trunk orTreat.
Speaker 1 (10:48):
Yeah Well, speaking of spooky season and Trunk or
Treat, we do have a flyer ifyou're watching and you're
tuning in.
Tomorrow we are going to be inour Henderson office.
Speaker 2 (10:59):
That's.
Speaker 1 (10:59):
October 18th 2024.
Oh yeah, october 18th 2024.
18th 2024.
Oh yeah, october 18th 2024.
Don't come tomorrow.
Next week we are from 6 to 8 PMin our Henderson office, 2230
Corporate Circle, 89074, rightoff of Green Valley Parkway.
We're having a trunk or treat,there's going to be a haunted
house, there's going to be foodtrucks, there's going to be
(11:21):
games, there's going to be candyfor the kids and stop by and
say hi, so um we got our.
Speaker 2 (11:28):
We got our fall.
Today is our like first day offall weather.
Yesterday it was 90 degrees,today we're 72.
Yeah, and then tomorrow's goingto be 63.
So it's going to feel likewinter.
Um great.
I always loved that.
Speaker 1 (11:41):
And if you are coming up to the trunk or or Treat.
Speaker 2 (11:43):
Do be mindful that it is going to be a little bit
windy, so don't let that windbother you.
I think it's going to be likegusts of 13 to 15 miles an hour,
but still a good time.
And the way the parking lot is,it dips down in some sections
and might cover some of thatwind blockage and get candy and
food trucks and all the funthings.
Speaker 1 (12:03):
Yeah, we'll be fine and I'll be in the Wizard of Oz
booth.
Stop by and say hi, and Tiana,I will be right next door in the
Spookty party.
Speaker 2 (12:15):
Okay.
Speaker 1 (12:16):
All right, so stop by say hello to us.
We would love to see you outthere and it's a free event, so
come out and enjoy.
Speaker 2 (12:25):
And just get to know.
Maybe you'll meet somebody fromthe community.
The kids will have a good time.
It's just a great way to getout and be social and not be at
home.
Speaker 1 (12:34):
Yeah, Invite your neighbors.
Kids, invite everybody.
Speaker 2 (12:37):
Don't have kids, find some, bring them.
No, I'm just kidding.
Don't don't steal any, please.
It's Halloween.
You don't tell people what todo, no.
Speaker 1 (12:47):
I'm so.
Yeah, so we've gone through ournumbers.
So now we have some listenerquestions to get into.
Speaker 2 (12:55):
We do we have three questions today we got Diana.
Why do realtors try and sellother houses when they're having
an open house at my house?
Speaker 1 (13:06):
Yeah, so good question.
Yeah, yeah, yeah, good question.
I know it's a, you know itseems odd.
So first of all, uh, first ofall, um the an open house.
You have to think of the um thepossibility that somebody most
people come to open houses fromthe signs right.
Speaker 2 (13:29):
So they're not aware of how big the house is, if
there's a pool, how much thehouse is, all the things that
are on their criteria, the price, yeah.
Speaker 1 (13:37):
So a lot of times people are just driving down the
street and saying, oh, there'san open house, I'll go check
that out.
I like this area.
Let me go see, look at thiscurb appeal, this might be my
next house.
Let me go see what's going on.
Sometimes, you know, justpeeking or poking around,
whatever.
So the odds of them walking inand being qualified to purchase
(13:57):
that house and that being thehome of their dreams are very
small.
Yeah, it does happen, yeah,happens, it can happen quite
often, but it's a lot of timesthat's not even in the ballpark
of what they're looking at.
That's not even in the ballparkof what they're looking at.
And so you know they, thebuyers, could be wanting another
(14:19):
bedroom or wanting not anotherbedroom.
So realtors, often when they goto open houses they kind of
have a toolbox.
You know of other homes thatare in different stages, I guess
nearby.
So different price points,different bedroom count,
different decor, everything likethat.
So obviously there's one thingthat we are pretty certain about
(14:42):
when someone comes into an openhouse is that they must like
the area.
I mean, I would think it wouldbe odd for a buyer to stop in an
open house in an area they hate.
Speaker 2 (14:55):
Right, no, no.
The first rule of open house isthe location.
If a buyer's in there, it'sbecause they do like the
location.
I always tell people when theyask questions like this to me
I'm always like it's kind oflike a dating app Just because
it's there doesn't mean it's theright fit for that person.
So somebody could come in andthey don't need your three
bedroom, they need a two bedroomand it's all fine.
(15:18):
But you should really berespecting the agent that is out
there working with those people.
That means they're a hustlerand they are sure as hell going
to hustle when it comes toselling your house.
So even though people arecoming into an open house and
might not be the right buyer forthat house, if you have an
agent who is working, all ofthose leads and clients, that
(15:38):
means they are doing the samething.
It is ingrained in theirbusiness model and they're doing
the same thing for you.
Speaker 1 (15:43):
Yeah.
And you're going to want thathustle, yeah.
And then in general, openhouses the primary reason why
agents do open houses are notreally to sell that house,
they're to generate leads tomeet buyers, to meet potential
buyers, to meet sellers, whichare, we call those, the nosy
(16:04):
neighbors that stop in to meetthem, to meet other potential
sources of business, and that'sone of the main reasons for it.
And then an advice that Ialways give to my clients is we
never can vet who comes into anopen house.
Speaker 2 (16:25):
Right.
Once you put that sign out thatis free to the public to come
in, you're literally saying hereanybody's invited, there's no
prequel to get you into thatopen house.
Speaker 1 (16:34):
Yeah.
So I always advise people thatif you're living in the home,
it's probably not the best ideato have an open house.
I wouldn't have an open housein my home while I was living in
it, so obviously that's theseller's call, the seller's
decision to make.
But that's usually the advice Igive because it is a slim
(16:54):
chance.
Our NAR statistics showed 1% ofopen houses sold the actual
house they were holding open.
So it's such a slim chance thatI don't think it's worth.
Safety security Of course theagents do their best to keep
everything secure, but there'speople out there that specialize
(17:15):
in doing bad things.
Speaker 2 (17:17):
Yeah, bad things experts.
They see an open house and it'salmost like a green flag, like
ooh, let me go scope that.
And you never know what theirinterests in that house are and
you can't vet them.
Yeah, yeah, open houses are adouble-edged sword.
Yeah, yeah, but if they'revacant, do them all day.
Speaker 1 (17:31):
Yeah, open houses are a double-edged sword, yeah yeah
, but if they're vacant, do themall day.
I mean, why not?
You know you could do themduring the week.
I actually oh, she's breakingthe set here y'all Getting all
excited.
She's going to go.
I actually love weekday openhouses.
Speaker 2 (17:49):
Well, I know you used to be really into open houses,
like in the beginning of time,and you had a methodical plan of
attack.
You're like three points from aschool, do it around the time,
three turns.
Speaker 1 (18:03):
No more than three turns, I would plot out an open
house.
But in my early days I was likewhy pay money to rent an office
?
I'll just host my office insidevacant houses all week and get
the same work done, and just abuyer might walk in.
Speaker 2 (18:20):
Right or a nosy neighbor.
Speaker 1 (18:21):
Yeah, or a nosy neighbor.
So it was a good strategy.
Speaker 2 (18:24):
It's a good strategy for an Asian.
Yeah, it's a great way to getleads.
Speaker 1 (18:28):
Yeah, definitely, but weekday open houses I mean
we're in a 24-7 town.
Not everybody has the weekendsoff, so you'd be surprised the
amount of activity that you seeduring weekday open houses.
Because it's those people thatare out when it's not the
weekend that don't get to go toall those weekend open houses
(18:52):
and they're happy to see onebeing held open during the week.
So, um, so yeah, those are.
Those are good idea too.
And then school pickup beforeand after school pickup is
always a good thing.
Speaker 2 (19:03):
Yeah, yeah, yeah yeah .
Speaker 1 (19:04):
A lot of people driving by there, so yeah, good
eyes too.
Speaker 2 (19:08):
Yep, yep Cause everybody wants to be closer to
the school when you have kids,oh yeah definitely so.
Speaker 1 (19:14):
Um, so yeah, you get um I, yeah, I sold a house one
time in an open house and it was.
She had just picked up the kidsfrom school and stopped in and
was like, yep, I want it.
I was like, okay, we're goodthat's the one.
Speaker 2 (19:26):
I love those deals.
Yeah, I had a buyer once whodidn't want to go looking at
houses.
She only wanted an open housesheet.
So I just set her up on aportal with all the open houses
that were happening on theweekend and about I don't know,
I would say, eight or ninemonths of her just being on this
trip of just looking at openhouses.
(19:47):
Go enjoy yourself, have a greattime, cause she wasn't a
serious buyer.
Then, all of a sudden, she fellin love with the house.
She walked in an open house andthat was it.
She called me.
We bought that house.
I was like easy peasy, baby.
Speaker 1 (19:59):
Open houses are often the first stage in the
consideration of buying.
So, often you get someone thatcomes into an open house.
They may like the house, theymay say okay, but they still may
be in the I'm just looking tosee what I can afford or what
price I like and whatever, butthey're not really in the ready
(20:22):
to buy stage.
Speaker 2 (20:23):
Yeah, yeah, yeah.
Well, buyers in the beginningof that stage always have the
mindset of if I find a house Ilike, then I'll go to a lender
and start the buying process ona real stable footing.
And that's really not how itworks when you're buying a house
.
But if you're just windowshopping, then have a great time
.
Here's a list.
(20:43):
Enjoy, yeah.
Speaker 1 (20:44):
Yeah, a couple months ago we had a listing in
Summerlin and a guy came to theopen house.
And then it was about a monthand a half later.
He came to the open house likedit showed interest.
Then it was about a month and ahalf later, he came to the open
house, liked it showed interest, everything.
About a month and a half laterhe pre-qualified and ended up
purchasing the house.
But it wasn't like, okay, here,I'm ready to buy, and we just
(21:06):
thought he forgot about it.
Speaker 2 (21:07):
but he resurfaced and they do and open houses do sell
homes sometimes.
It's not that it never works orwhat have you.
But yeah, if your realtor istalking to somebody in open
house and it's not specificallyabout your house, just take
comfort in the fact that thatagent is always hustling, most
(21:28):
likely, and is going to behustling to sell your house
because they might be at adifferent open house the
following weekend and the rightbuyer for your house comes in.
Speaker 1 (21:36):
Right, right.
It's about meeting buyers andpairing them up with the right
match.
Speaker 2 (21:41):
Yep, and as long as your agent is meeting people,
then you have more networkingand stuff going on in the
background that could benefitthe sale of your house
Absolutely.
Speaker 1 (21:50):
Yep, yep, yep.
Okay, so, mimi, mimi, mimi doesnot like the buyer's agent that
she signed the buyer'sbrokerage agreement with.
How can she get out of theagreement?
Well, this is going to be aproblem in this environment.
You know what I mean, becauseyou have to have a buyer's
brokerage agreement to go lookat houses, and sometimes people
(22:12):
might not thoroughly interviewtheir agent and they might
decide that that's not the rightfit for them.
So I get it.
Speaker 2 (22:20):
And it happens often.
Usually you get a referral oryou grab the first person you
meet like, say at an open house,and you want to work with them
and they're all eager in thebeginning, but then you get to
know them a bit and you don'tlike the way they communicate or
you feel like they're notadvocating for you.
Personalities don't clash.
It really doesn't matter, right?
If you have an issue, they'rethere to help and service you.
(22:41):
So if you're not getting along,you don't like what they're
doing.
There is escape clause.
Speaker 1 (22:47):
Yeah, really a lot of it depends on the agent, their
process.
Really a lot of it depends onthe agent, their process and
your contract.
Some contracts do have acancellation fee.
Yeah, some do not.
It depends on if it's there onyour contract.
It's usually on the second page.
Well, in our valley yeah, yeah,and here in Las Vegas, yeah, so
(23:08):
that, and sometimes you can havea conversation.
I mean, in any case, have aconversation with the agent.
I mean, let them know thatyou're counseling and that's.
I mean.
I always have the same pitch.
I tell people like we're goingsteady, we're not getting
married.
I just want you to tell me ifwe break up.
You know like.
I need to be the first one toknow if we're done here.
(23:29):
Yeah, like I don't want tocontinue looking, searching for
homes calling you and you'releft to me on unread and you
know I mean it's.
I want to know if we're notworking together anymore, and
that's fine.
Not going to like burn for cellsigns in your yard or you know
anything crazy it's just well Imight it is.
Speaker 2 (23:47):
It is spooky season.
Speaker 1 (23:50):
Yeah, I'm not here to make anybody's life miserable.
If I'm not the fit for you, Idon't want to do that.
So it's good we part wayspeacefully.
But definitely you want torefer to the contract, let the
agent know that you don't wantto work with them anymore, and a
lot of times the agent will sayokay, good, I'm releasing you
from this and if they don't, youhave a conversation with their
(24:14):
broker.
Speaker 2 (24:15):
Yeah, the broker would be the next step, and
usually it's.
I mean with most agents who dothis on a day-to-day.
I'm not talking, like thebartender, part-time agents, but
people who are running thislike a business.
If you've hired a business tohelp you facilitate, then those
people understand that sometimesyou're just not working with
the right people and they don'twant to work with you just as
(24:37):
much as you don't want to workwith them.
Speaker 1 (24:39):
A lot of times, yeah, nobody wants to be in that kind
of situation.
Speaker 2 (24:43):
No, yeah, nobody's forcing you like, you got to buy
a house from me.
And if they are, you're right,you got the wrong agent, yeah.
Speaker 1 (24:49):
And sometimes, if you have a conversation with the
broker, the broker may assignyou to another agent, which is
fine, yeah, and ask you to staywith the brokerage but assign
you to another agent.
Or the broker might just sayhere you're released, but
definitely you have options.
Speaker 2 (25:05):
There are options.
You have the escape clause, youcan have the conversation with
the broker and the broker coulddefinitely and it's happened.
I've been assigned to clientsbefore.
Speaker 1 (25:14):
I have too, on a listing where you know it just
wasn't working out with thelisting agent.
And and they, uh, the brokersaid you know, I'm going to
release you from the contractwith this agent, but, um, yeah,
I'm going to set you up withanother agent.
Speaker 2 (25:28):
And the reason they do that is because your contract
is with the broker not theindividual agent.
So you might sign a buyerbrokerage with me and you decide
that I'm just too much, youdon't like the way I work or do
business.
That's fine.
We can, you know, transfer fromme to a different agent and
I'll have nothing to do with it.
That agent will then have theduty to take care of you and
(25:49):
stuff, because that contract isagain with the broker, not this
specific agent.
Yeah, will then have the dutyto take care of you and stuff,
because that contract is againwith the broker, not this
specific agent.
Speaker 1 (25:56):
Yeah, so, yeah, you definitely have options and you,
you, you have a way, a way out.
So, um, yeah, that that'sdefinitely.
But um, in, in, in anysituation.
Uh, a good conversation canusually resolve any problem.
Yep, Yep.
Speaker 2 (26:15):
Yep, Yep.
And then our next is thatElaine.
Oh, okay, Elaine, Um, she's got, she goes.
Uh, do solar panels increase?
Increase the value of our house?
So we've answered solar panelquestions a couple different
times, a couple different wayson this show and people have
very strong opinions about solarpanels and if they're good or
(26:37):
if they're bad.
But there are some foundationalissues or key questions you
should know about getting solarlease versus own and how that
affects you.
Do you want to start or do youwant me to?
Yeah, go ahead, Okay.
So of course, there are somepros to going solar, especially
in a Sunbelt like this, whereyou get a lot of kilowatts.
(26:59):
And getting that solar willobviously reduce your insurance
payment.
You're still paying If you'releasing, you're leasing the
equipment.
But some buyers look at it asan issue.
Younger buyers, likemillennials.
They like the idea of the solarpanel.
It could be good if you alreadyown the house and going solar
(27:21):
might be a benefit if you planon staying there and owning it
and having the reduction abenefit if you plan on staying
there and owning it and havingthe reduction In 2024 and 2023,
there are rebates with theInflation Act that you get 30%
back.
There are some cons to it.
You could get some damage toyour roof when they put the
solar panels off.
If you're doing a lease and aremoval, the good news is before
(27:43):
they put them on, they have tomake sure that the roof is
stable.
Speaker 1 (27:47):
Yeah, and they usually warranty it within your
contract.
But back to the question of dothey increase your home value?
An appraiser only gives valueon panels that are owned.
So yeah, leases don't count.
Yeah, leases don't count.
If you have a power purchaseagreement, you have a lease or
even financed.
They take that intoconsideration.
(28:08):
But if there's still a paymenton it, it's not technically
owned.
They're not going to give you.
If you're assuming the payments, they're not going to give you
the value add for that becauseyou're still paying for it.
So that's one of I guess athorn in my side when it comes
to solar is I hear all the timethat the salespeople that come
(28:30):
out there that are unregulated,and I mean they're just
unregulated and reckless.
They go out and they tell peoplethat, yeah, you can get this
lease, do this and it's going toraise the value of your home,
but a lease will not.
Yeah, that's completelyincorrect.
You get zero value if it'sleased.
(28:50):
Not that it's not a good idea,but don't think it's going to
add to your home value.
Speaker 2 (28:55):
Yeah, and also a lease is going to diminish your
buyer pool.
Yes, because if they're havingto take over a lease of that
solar panel, that is going tochange the buying power of them
through the lender, because it'ssomething they're going to have
to qualify for.
It's not like an electric billthat they're not taking into
consideration.
Speaker 1 (29:14):
And you've got to be very cautious because sometimes
people will go out and againthese unregulated salespeople.
Sorry, solar guys.
Speaker 2 (29:22):
I'm harping on you here For somebody who knows you
off of this site.
You're being very nice.
I am being very nice.
Speaker 1 (29:29):
Very politically correct over there.
But they go out there and thebuyer will say like, oh, I don't
want to pay more than $50 amonth for the panel.
So they'll say, okay, noproblem, we'll give you panels
for $50 a month.
But they give you panels.
They'll just throw a couplepanels up on your roof that
don't do much to eliminate yourpower bill.
You still have a large powerbill and you have these stupid
(29:50):
panels up there.
And then you have a buyer thathas to assume these and the
buyer is looking at the powerbill versus the solar bill and
saying what's the use of thesolar?
This makes no sense and that'san issue.
So you really have to becautious and review over how
(30:11):
much of your power load thosepanels are going to cover and
make sure it makes sense beforeyou do this, because you are
locked into a 30-year lease andit does have to transfer to the
new buyer and it is an issuewhen you sell your home.
Yep.
Speaker 2 (30:23):
All of that is true.
Speaker 1 (30:24):
Yeah, so be cautious, that's all.
Speaker 2 (30:27):
Well, I guess, be diligent Really, know what
you're getting into and know thepros and cons of buy versus
lease and what that means movingforward for you.
Speaker 1 (30:37):
Yeah, yeah, absolutely.
Good job it's not that it's abad idea.
You just have to make sure todo your research and make sure
that you're getting into theright thing.
Yeah, yeah.
Speaker 2 (30:47):
Totally.
Speaker 1 (30:47):
Yeah, that's very good advice, ma'am Thank you,
thank you and once again, comesee us tomorrow night.
We'd love to see you out thereat the trunk or treat.
Six to 8 PM, that is October18th 2024.
Speaker 2 (31:03):
It is so much fun.
You guys.
Come get a little Halloweenspirit out there and enjoy the
fall weather that we finally gotafter that heat wave.
You were gone.
You missed it.
It was like summer all thebeginning of October.
But if you like what you arelistening to and you want to
join our tribe, make sure youlike, share and subscribe so
(31:23):
that way you'll be notified andyou can join us.
We're here every Thursdaytalking everything real estate
in Las Vegas and Trish, ifsomebody wanted to have an
actual real estate conversationwith you, find out, maybe, how
to start a buying process or ifthey should do solar or any of
those things, how do they getahold of you?
Speaker 1 (31:40):
You can reach me on my cell phone 702-308-2878.
And, Tiana, how do people getin touch with you?
You?
Speaker 2 (31:47):
can call me or text me.
I'm easy to get ahold of702-379-9948.
Speaker 1 (31:53):
And if you're watching our show, please go to
our link tree, which isrealtycheckvegas.
You can connect with us in allsorts of places there.
Speaker 2 (32:02):
And that's also where you can send your real estate
questions.
Sometimes it's a littleunnerving to reach out to
somebody.
You don't want to waste theirtime, but you just have a
question you need to answer.
So you can drop those questionsright there at realtycheckvegas
and we'll get those answeredfor you.
Speaker 1 (32:15):
Yep, absolutely, and we will see you guys next week.
Have a great week.
Bye Vegas, thank you.
Hey Las Vegas, welcome back to Vegas Realty.
Check your local Las Vegas realestate news show.
I'm Trish Williams.
Speaker 2 (00:22):
And I'm Tiana Carroll .
Thanks for joining in andwelcome back you.
Speaker 1 (00:26):
How was your trip?
Oh, I'm glad to be home.
Speaker 2 (00:30):
That is not how you're supposed to respond after
a vacation.
After a vacation, you should belike I loved it so much.
I wish I was still there.
Speaker 1 (00:36):
Yeah Well, I was on a cruise ship and I've renamed
cruise ships in general HotelCalifornia.
You can check in, but you can'tleave.
Oh no, not my thing, not mything.
Speaker 2 (00:47):
You just felt a little claustrophobic on this
gigantic cruise ship.
Speaker 1 (00:52):
It's just a little stuck.
I just don't like being in asituation where, like, when I'm
done, I can't like, okay, I'mdone here, like you're just.
You're like, I got you.
Yeah, so great, some peoplelove it, I get it, whatever Not
my thing.
Yeah yeah, no, I like a cruise.
Yeah yeah, next time I'll go onthe cruise and you can stay
(01:13):
here.
Yeah, yeah, definitely, it'snot my thing.
I don't think I will ever bedoing a cruise again.
Speaker 2 (01:16):
Oh see, I love it, especially if you're traveling
with like multi-generations andyou can send kids here and
grandparents there and get offon a port, experience the town
for the day, get back on yourship, have some food, have a
show and then off to bed you go,unless you're a gambler, dancer
, degenerate like some of us.
Yeah, yeah.
Speaker 1 (01:34):
No, no, just not my thing, not my.
Thing.
I like to be in a situationwhere, if I'm not feeling it, I
could just go home.
Speaker 2 (01:43):
Well, I'm glad you know now, because the world of
traveling on planes and boatsand stuff is all fairly new to
you.
So I'm glad you're finding outwhat you like and don't like.
Speaker 1 (01:52):
Well, I did a cruise before.
That was three days and thatwas fine.
Yeah, it was just the seven-daything.
Too long, too much, way toolong.
Okay, for me long for me, allright.
Well, we are glad to have youback.
Yeah, thank you.
Thank you, I'm glad to be back,so glad to be back.
Wow, I've never been so glad tobe back Again.
Terrible way to come back froma vacation.
(02:15):
I just take the fun out ofeverything.
So not much has happened whileI was gone, so there's that?
Speaker 2 (02:22):
No, and I was really surprised, because usually when
somebody goes out of town thenthings go crazy, but there was
not a peep from you.
Speaker 1 (02:30):
Yeah, no, we got, um, you know, some showings on
listings.
Nothing, no big activity, justa you know sign of the market
that we're in.
We are 19 days away from thiselection and, oh my gosh, I
can't wait for it to be over.
Speaker 2 (02:44):
Slowest 19 days of our life.
Speaker 1 (02:46):
It's going to feel like Slowest 19 days of our life
.
So everyone's just grinningtheir teeth, standing on the
side.
What's going to happen?
Speaker 2 (02:57):
I'm not thinking about real estate yet and
everybody's got a theory aboutit, right yeah, it doesn't
matter which side people are on,right, they can be Republican
or Democrat there.
Speaker 1 (03:07):
If the other side wins, this is going to happen.
If it doesn't go their way, thesky will fall.
They are certain of that.
They are sure, yeah.
Speaker 2 (03:14):
And whichever way it goes, for those people who are
saying they're leaving thecountry, whichever way it goes,
let me know I'll help you withinternational sales.
Yeah, yeah, definitely.
Let me know help you withinternational sales.
Yeah, definitely.
Speaker 1 (03:24):
Let me know, definitely.
You know, I hear that everysingle election season I'm
leaving the country and neverseen nobody leave the country.
Speaker 2 (03:33):
No, I've never seen anybody leave the country.
For that reason, yeah.
Speaker 1 (03:36):
No, I haven't seen it happen yet, but I would
actually appreciate if weactually seen someone follow
through with what they say.
You're like rude, you can leavethe country I'm like, okay, do
it, let's see it happen let'ssee it happen.
Make the move, call your blood,they call the bluff.
Let's, let's see it happen.
That's funny all right.
Speaker 2 (03:54):
So, like we always start the show, we always,
besides our little banter, wealways also start with stocks.
You missed all of the uh.
I mean stocks numbers,inventory stock of the houses,
yeah, uh, yeah, not actual stockmarket stuff.
Um, we always start with thenumbers.
You missed the uh market updatelast month.
Speaker 1 (04:13):
I watched it last week.
I watched it from the ship.
You and Mia did a great job, sovery good, very good, gabs a
lot.
Speaker 2 (04:20):
Yeah, that's okay, but we'll go over some numbers
here get the uh audience incheck to what's happening this
week in Las Vegas real estatemarket.
So we have single family homes.
How many we've got?
Speaker 1 (04:29):
5,264.
So this is down about a hundredfrom last time I was here, two
weeks ago, yep.
So yeah, I wouldn't say that'sanything to celebrate, yeah, and
last week too, they're all justsort of staying steady.
Speaker 2 (04:44):
We're hovering in that 5,200 mark, which is
celebrate, yeah, and last weektoo.
They're all just sort ofstaying steady.
Speaker 1 (04:50):
We're hovering in that 5,200 mark, which is fine.
Yeah, our souls don't look good.
Speaker 2 (04:52):
Oh, our souls hurt my heart today.
I know Hurt my heart.
I was like 315.
Speaker 1 (04:56):
Yeah, ow yeah.
That's like no buyers out there, no one.
That that's just an indicatorthat there's not much happening
and that's just an indicatorthat there's not much happening.
Speaker 2 (05:03):
That is the bare bones of real estate right there
.
Speaker 1 (05:12):
And I wonder how much of that, because I know we have
a way of looking up the statsand we can get into that later,
but I'm assuming a majority ofthis 315 is investors.
Speaker 2 (05:20):
Because investors are still yeah those cash.
Speaker 1 (05:22):
Investors are still purchasing.
They're still stocking up.
I've spoken with a bunch ofthem.
They're stocking up andpreparing for after election
flood of buyers.
So I'm thinking that there'sprobably a high percentage of
this 315 that are investors andnot true homebuyers.
Speaker 2 (05:42):
Yeah, I'm going to have to agree with you on that
one, because we're not seeing aton and we have a few buyers who
are out there pre-qualified andshopping and doing their thing,
which is great, but it's notlike it should be with a stock
of 5,264 single family homes no,they had 315 closed sales last
(06:03):
week.
Speaker 1 (06:03):
Such a small percentage of that.
Speaker 2 (06:05):
Oh my gosh, that's almost five thousand homes that
didn't sell at this rate, thenwe have months and months and
months of stock, not just abalanced market yeah, not good.
And the price decreases havegone up.
Speaker 1 (06:21):
Yeah Well, of course the houses aren't selling.
Speaker 2 (06:23):
That's right.
So the next move is let's bringthose prices down.
Speaker 1 (06:27):
Yeah, the price decreases are up at $629.
Speaker 2 (06:30):
$629.
People this week were likelet's drop the price, yeah, yeah
.
Speaker 1 (06:37):
We're not getting any action.
Yeah, that's kind of your onlygo-to right now in a market like
this.
But even that, I have evenadvised a couple of my sellers
that I don't think a pricereduction right now is going to
do anything.
Speaker 2 (06:51):
I don't think a price reduction is going to do
anything just because there'snot activity on the market, and
if you just don't have buyers,you just don't have buyers.
Speaker 1 (06:59):
Yeah, you got to have buyers for those price
reductions to make an impact,and if there's no buyers out
there, you're just reducing fornothing.
We got to wait it out a fewweeks until we start getting
buyers in the market again.
Speaker 2 (07:12):
Yeah, and that's one of the things in real estate, in
any market, right?
It's constantly fluctuating anddifferent.
In a different market, we had5,000 homes.
We may not be seeing thoseprice reductions or advising
people to hang on.
We might be saying, hey, youneed to drop your price, these
homes are moving, but this lowamount of inventory, I mean this
(07:32):
low amount of sales, then it'salmost better just to hang on,
if you can, instead of droppingprices, which I never thought
I'd say.
Speaker 1 (07:42):
That's a weird thing for me to say.
That is usually not what weadvise but you've got to change
with the circumstances of theenvironment.
And the circumstances of theenvironment right now is that
there's not a lot of people outthere, so doing things like that
aren't going to make much of animpact.
And I hate to be like passiveand say wait it out.
But this is the time where youjust got to kind of just buckle
(08:03):
down, say wait it out.
But this is the time where youjust gotta kind of just buckle
down, wait it out, you know, andand let's get past real estate
in las vegas.
Speaker 2 (08:10):
Buckling down and waiting it out might be a matter
of weeks, you know.
Speaker 1 (08:14):
Yeah, it might be like three to five weeks into it
and be like, okay, we're goodand that's why I think we are, I
really think, even a coupleweeks, even a week after the
election, when people see thatthe sky didn't fall, the world
didn't implode that.
Speaker 2 (08:27):
Oh wait, that's not going to happen.
I don't have to have the worldimploding party now.
No, no, it's not.
Speaker 1 (08:33):
But I think it's going to happen pretty quickly
afterwards where people are justgoing to be like okay, it's
fine.
It's fine, like you know,whatever there may be a pity
party.
Like you know, whatever theremay be a pity party, you think
the world is going to get backto normal.
Yeah, there may be, like youknow, like you know, some people
(08:53):
cry and fuss and kicking theirfeet, but then they'll be like
okay, whatever it is, what it is.
Speaker 2 (08:58):
Yeah, you know we're moving on, we're moving on,
we're moving on.
Okay so, and then undercontracts.
Those are't hurt my heart theway the sold did, because if we
can get 493, I'm just going tosay 500.
Forget those other seven.
Speaker 1 (09:08):
500 under contract homes, that's good yeah that is
better, that's good-ish, betterthan the sold.
But then you have to factor inso many in markets like this
where it's like very weak, weak.
In markets like this, so manyhomes go under contract and then
the buyers are kind offrivolous and just cancel for
(09:31):
anything Like they sneezed inthe home, cancel.
Speaker 2 (09:35):
Yeah, yeah, yeah.
Speaker 1 (09:39):
They're really not that strong.
So we have to see at the end ofthe month what closes from
those other contracts.
Yeah, yeah.
Speaker 2 (09:46):
Which, um, I haven't seen.
I mean, I do agree that buyersright now frivolous is a really
good word they're uh sort offeeling like uh high on the hog
and they have their sort of pickup the litter when they go out
shopping and so every littlething, even when they get into
contracts, especially on thelike requests for repairs and
stuff, they're like, oh no, $400.
(10:08):
Let's cancel this $500,000transaction.
I'll be like, oh out, no, let'snot do that.
Speaker 1 (10:14):
Well, it's the mindset.
Buyers are scared too, becausethey're worried, like you know.
Am I buying at the right time?
Is this the right market?
Is this the good deal?
And I'm a strong believer.
This is a good deal and this isthe right time for a buyer to
get a good deal.
But when they see that they'rebuying and not everybody else's,
(10:37):
they're like wait a minute, whyis it just me out here?
You know, yeah.
Speaker 2 (10:40):
I thought that fear was just because it's spooky
season.
Speaker 1 (10:43):
Well, yeah, you know that too.
Speaker 2 (10:44):
You're all in the spooky season.
You got your orange on.
You're preparing for Trunk orTreat.
Speaker 1 (10:48):
Yeah Well, speaking of spooky season and Trunk or
Treat, we do have a flyer ifyou're watching and you're
tuning in.
Tomorrow we are going to be inour Henderson office.
Speaker 2 (10:59):
That's.
Speaker 1 (10:59):
October 18th 2024.
Oh yeah, october 18th 2024.
18th 2024.
Oh yeah, october 18th 2024.
Don't come tomorrow.
Next week we are from 6 to 8 PMin our Henderson office, 2230
Corporate Circle, 89074, rightoff of Green Valley Parkway.
We're having a trunk or treat,there's going to be a haunted
house, there's going to be foodtrucks, there's going to be
(11:21):
games, there's going to be candyfor the kids and stop by and
say hi, so um we got our.
Speaker 2 (11:28):
We got our fall.
Today is our like first day offall weather.
Yesterday it was 90 degrees,today we're 72.
Yeah, and then tomorrow's goingto be 63.
So it's going to feel likewinter.
Um great.
I always loved that.
Speaker 1 (11:41):
And if you are coming up to the trunk or or Treat.
Speaker 2 (11:43):
Do be mindful that it is going to be a little bit
windy, so don't let that windbother you.
I think it's going to be likegusts of 13 to 15 miles an hour,
but still a good time.
And the way the parking lot is,it dips down in some sections
and might cover some of thatwind blockage and get candy and
food trucks and all the funthings.
Speaker 1 (12:03):
Yeah, we'll be fine and I'll be in the Wizard of Oz
booth.
Stop by and say hi, and Tiana,I will be right next door in the
Spookty party.
Speaker 2 (12:15):
Okay.
Speaker 1 (12:16):
All right, so stop by say hello to us.
We would love to see you outthere and it's a free event, so
come out and enjoy.
Speaker 2 (12:25):
And just get to know.
Maybe you'll meet somebody fromthe community.
The kids will have a good time.
It's just a great way to getout and be social and not be at
home.
Speaker 1 (12:34):
Yeah, Invite your neighbors.
Kids, invite everybody.
Speaker 2 (12:37):
Don't have kids, find some, bring them.
No, I'm just kidding.
Don't don't steal any, please.
It's Halloween.
You don't tell people what todo, no.
Speaker 1 (12:47):
I'm so.
Yeah, so we've gone through ournumbers.
So now we have some listenerquestions to get into.
Speaker 2 (12:55):
We do we have three questions today we got Diana.
Why do realtors try and sellother houses when they're having
an open house at my house?
Speaker 1 (13:06):
Yeah, so good question.
Yeah, yeah, yeah, good question.
I know it's a, you know itseems odd.
So first of all, uh, first ofall, um the an open house.
You have to think of the um thepossibility that somebody most
people come to open houses fromthe signs right.
Speaker 2 (13:29):
So they're not aware of how big the house is, if
there's a pool, how much thehouse is, all the things that
are on their criteria, the price, yeah.
Speaker 1 (13:37):
So a lot of times people are just driving down the
street and saying, oh, there'san open house, I'll go check
that out.
I like this area.
Let me go see, look at thiscurb appeal, this might be my
next house.
Let me go see what's going on.
Sometimes, you know, justpeeking or poking around,
whatever.
So the odds of them walking inand being qualified to purchase
(13:57):
that house and that being thehome of their dreams are very
small.
Yeah, it does happen, yeah,happens, it can happen quite
often, but it's a lot of timesthat's not even in the ballpark
of what they're looking at.
That's not even in the ballparkof what they're looking at.
And so you know they, thebuyers, could be wanting another
(14:19):
bedroom or wanting not anotherbedroom.
So realtors, often when they goto open houses they kind of
have a toolbox.
You know of other homes thatare in different stages, I guess
nearby.
So different price points,different bedroom count,
different decor, everything likethat.
So obviously there's one thingthat we are pretty certain about
(14:42):
when someone comes into an openhouse is that they must like
the area.
I mean, I would think it wouldbe odd for a buyer to stop in an
open house in an area they hate.
Speaker 2 (14:55):
Right, no, no.
The first rule of open house isthe location.
If a buyer's in there, it'sbecause they do like the
location.
I always tell people when theyask questions like this to me
I'm always like it's kind oflike a dating app Just because
it's there doesn't mean it's theright fit for that person.
So somebody could come in andthey don't need your three
bedroom, they need a two bedroomand it's all fine.
(15:18):
But you should really berespecting the agent that is out
there working with those people.
That means they're a hustlerand they are sure as hell going
to hustle when it comes toselling your house.
So even though people arecoming into an open house and
might not be the right buyer forthat house, if you have an
agent who is working, all ofthose leads and clients, that
(15:38):
means they are doing the samething.
It is ingrained in theirbusiness model and they're doing
the same thing for you.
Speaker 1 (15:43):
Yeah.
And you're going to want thathustle, yeah.
And then in general, openhouses the primary reason why
agents do open houses are notreally to sell that house,
they're to generate leads tomeet buyers, to meet potential
buyers, to meet sellers, whichare, we call those, the nosy
(16:04):
neighbors that stop in to meetthem, to meet other potential
sources of business, and that'sone of the main reasons for it.
And then an advice that Ialways give to my clients is we
never can vet who comes into anopen house.
Speaker 2 (16:25):
Right.
Once you put that sign out thatis free to the public to come
in, you're literally saying hereanybody's invited, there's no
prequel to get you into thatopen house.
Speaker 1 (16:34):
Yeah.
So I always advise people thatif you're living in the home,
it's probably not the best ideato have an open house.
I wouldn't have an open housein my home while I was living in
it, so obviously that's theseller's call, the seller's
decision to make.
But that's usually the advice Igive because it is a slim
(16:54):
chance.
Our NAR statistics showed 1% ofopen houses sold the actual
house they were holding open.
So it's such a slim chance thatI don't think it's worth.
Safety security Of course theagents do their best to keep
everything secure, but there'speople out there that specialize
(17:15):
in doing bad things.
Speaker 2 (17:17):
Yeah, bad things experts.
They see an open house and it'salmost like a green flag, like
ooh, let me go scope that.
And you never know what theirinterests in that house are and
you can't vet them.
Yeah, yeah, open houses are adouble-edged sword.
Yeah, yeah, but if they'revacant, do them all day.
Speaker 1 (17:31):
Yeah, open houses are a double-edged sword, yeah yeah
, but if they're vacant, do themall day.
I mean, why not?
You know you could do themduring the week.
I actually oh, she's breakingthe set here y'all Getting all
excited.
She's going to go.
I actually love weekday openhouses.
Speaker 2 (17:49):
Well, I know you used to be really into open houses,
like in the beginning of time,and you had a methodical plan of
attack.
You're like three points from aschool, do it around the time,
three turns.
Speaker 1 (18:03):
No more than three turns, I would plot out an open
house.
But in my early days I was likewhy pay money to rent an office
?
I'll just host my office insidevacant houses all week and get
the same work done, and just abuyer might walk in.
Speaker 2 (18:20):
Right or a nosy neighbor.
Speaker 1 (18:21):
Yeah, or a nosy neighbor.
So it was a good strategy.
Speaker 2 (18:24):
It's a good strategy for an Asian.
Yeah, it's a great way to getleads.
Speaker 1 (18:28):
Yeah, definitely, but weekday open houses I mean
we're in a 24-7 town.
Not everybody has the weekendsoff, so you'd be surprised the
amount of activity that you seeduring weekday open houses.
Because it's those people thatare out when it's not the
weekend that don't get to go toall those weekend open houses
(18:52):
and they're happy to see onebeing held open during the week.
So, um, so yeah, those are.
Those are good idea too.
And then school pickup beforeand after school pickup is
always a good thing.
Speaker 2 (19:03):
Yeah, yeah, yeah yeah .
Speaker 1 (19:04):
A lot of people driving by there, so yeah, good
eyes too.
Speaker 2 (19:08):
Yep, yep Cause everybody wants to be closer to
the school when you have kids,oh yeah definitely so.
Speaker 1 (19:14):
Um, so yeah, you get um I, yeah, I sold a house one
time in an open house and it was.
She had just picked up the kidsfrom school and stopped in and
was like, yep, I want it.
I was like, okay, we're goodthat's the one.
Speaker 2 (19:26):
I love those deals.
Yeah, I had a buyer once whodidn't want to go looking at
houses.
She only wanted an open housesheet.
So I just set her up on aportal with all the open houses
that were happening on theweekend and about I don't know,
I would say, eight or ninemonths of her just being on this
trip of just looking at openhouses.
(19:47):
Go enjoy yourself, have a greattime, cause she wasn't a
serious buyer.
Then, all of a sudden, she fellin love with the house.
She walked in an open house andthat was it.
She called me.
We bought that house.
I was like easy peasy, baby.
Speaker 1 (19:59):
Open houses are often the first stage in the
consideration of buying.
So, often you get someone thatcomes into an open house.
They may like the house, theymay say okay, but they still may
be in the I'm just looking tosee what I can afford or what
price I like and whatever, butthey're not really in the ready
(20:22):
to buy stage.
Speaker 2 (20:23):
Yeah, yeah, yeah.
Well, buyers in the beginningof that stage always have the
mindset of if I find a house Ilike, then I'll go to a lender
and start the buying process ona real stable footing.
And that's really not how itworks when you're buying a house
.
But if you're just windowshopping, then have a great time
.
Here's a list.
(20:43):
Enjoy, yeah.
Speaker 1 (20:44):
Yeah, a couple months ago we had a listing in
Summerlin and a guy came to theopen house.
And then it was about a monthand a half later.
He came to the open house likedit showed interest.
Then it was about a month and ahalf later, he came to the open
house, liked it showed interest, everything.
About a month and a half laterhe pre-qualified and ended up
purchasing the house.
But it wasn't like, okay, here,I'm ready to buy, and we just
(21:06):
thought he forgot about it.
Speaker 2 (21:07):
but he resurfaced and they do and open houses do sell
homes sometimes.
It's not that it never works orwhat have you.
But yeah, if your realtor istalking to somebody in open
house and it's not specificallyabout your house, just take
comfort in the fact that thatagent is always hustling, most
(21:28):
likely, and is going to behustling to sell your house
because they might be at adifferent open house the
following weekend and the rightbuyer for your house comes in.
Speaker 1 (21:36):
Right, right.
It's about meeting buyers andpairing them up with the right
match.
Speaker 2 (21:41):
Yep, and as long as your agent is meeting people,
then you have more networkingand stuff going on in the
background that could benefitthe sale of your house
Absolutely.
Speaker 1 (21:50):
Yep, yep, yep.
Okay, so, mimi, mimi, mimi doesnot like the buyer's agent that
she signed the buyer'sbrokerage agreement with.
How can she get out of theagreement?
Well, this is going to be aproblem in this environment.
You know what I mean, becauseyou have to have a buyer's
brokerage agreement to go lookat houses, and sometimes people
(22:12):
might not thoroughly interviewtheir agent and they might
decide that that's not the rightfit for them.
So I get it.
Speaker 2 (22:20):
And it happens often.
Usually you get a referral oryou grab the first person you
meet like, say at an open house,and you want to work with them
and they're all eager in thebeginning, but then you get to
know them a bit and you don'tlike the way they communicate or
you feel like they're notadvocating for you.
Personalities don't clash.
It really doesn't matter, right?
If you have an issue, they'rethere to help and service you.
(22:41):
So if you're not getting along,you don't like what they're
doing.
There is escape clause.
Speaker 1 (22:47):
Yeah, really a lot of it depends on the agent, their
process.
Really a lot of it depends onthe agent, their process and
your contract.
Some contracts do have acancellation fee.
Yeah, some do not.
It depends on if it's there onyour contract.
It's usually on the second page.
Well, in our valley yeah, yeah,and here in Las Vegas, yeah, so
(23:08):
that, and sometimes you can havea conversation.
I mean, in any case, have aconversation with the agent.
I mean, let them know thatyou're counseling and that's.
I mean.
I always have the same pitch.
I tell people like we're goingsteady, we're not getting
married.
I just want you to tell me ifwe break up.
You know like.
I need to be the first one toknow if we're done here.
(23:29):
Yeah, like I don't want tocontinue looking, searching for
homes calling you and you'releft to me on unread and you
know I mean it's.
I want to know if we're notworking together anymore, and
that's fine.
Not going to like burn for cellsigns in your yard or you know
anything crazy it's just well Imight it is.
Speaker 2 (23:47):
It is spooky season.
Speaker 1 (23:50):
Yeah, I'm not here to make anybody's life miserable.
If I'm not the fit for you, Idon't want to do that.
So it's good we part wayspeacefully.
But definitely you want torefer to the contract, let the
agent know that you don't wantto work with them anymore, and a
lot of times the agent will sayokay, good, I'm releasing you
from this and if they don't, youhave a conversation with their
(24:14):
broker.
Speaker 2 (24:15):
Yeah, the broker would be the next step, and
usually it's.
I mean with most agents who dothis on a day-to-day.
I'm not talking, like thebartender, part-time agents, but
people who are running thislike a business.
If you've hired a business tohelp you facilitate, then those
people understand that sometimesyou're just not working with
the right people and they don'twant to work with you just as
(24:37):
much as you don't want to workwith them.
Speaker 1 (24:39):
A lot of times, yeah, nobody wants to be in that kind
of situation.
Speaker 2 (24:43):
No, yeah, nobody's forcing you like, you got to buy
a house from me.
And if they are, you're right,you got the wrong agent, yeah.
Speaker 1 (24:49):
And sometimes, if you have a conversation with the
broker, the broker may assignyou to another agent, which is
fine, yeah, and ask you to staywith the brokerage but assign
you to another agent.
Or the broker might just sayhere you're released, but
definitely you have options.
Speaker 2 (25:05):
There are options.
You have the escape clause, youcan have the conversation with
the broker and the broker coulddefinitely and it's happened.
I've been assigned to clientsbefore.
Speaker 1 (25:14):
I have too, on a listing where you know it just
wasn't working out with thelisting agent.
And and they, uh, the brokersaid you know, I'm going to
release you from the contractwith this agent, but, um, yeah,
I'm going to set you up withanother agent.
Speaker 2 (25:28):
And the reason they do that is because your contract
is with the broker not theindividual agent.
So you might sign a buyerbrokerage with me and you decide
that I'm just too much, youdon't like the way I work or do
business.
That's fine.
We can, you know, transfer fromme to a different agent and
I'll have nothing to do with it.
That agent will then have theduty to take care of you and
(25:49):
stuff, because that contract isagain with the broker, not this
specific agent.
Yeah, will then have the dutyto take care of you and stuff,
because that contract is againwith the broker, not this
specific agent.
Speaker 1 (25:56):
Yeah, so, yeah, you definitely have options and you,
you, you have a way, a way out.
So, um, yeah, that that'sdefinitely.
But um, in, in, in anysituation.
Uh, a good conversation canusually resolve any problem.
Yep, Yep.
Speaker 2 (26:15):
Yep, Yep.
And then our next is thatElaine.
Oh, okay, Elaine, Um, she's got, she goes.
Uh, do solar panels increase?
Increase the value of our house?
So we've answered solar panelquestions a couple different
times, a couple different wayson this show and people have
very strong opinions about solarpanels and if they're good or
(26:37):
if they're bad.
But there are some foundationalissues or key questions you
should know about getting solarlease versus own and how that
affects you.
Do you want to start or do youwant me to?
Yeah, go ahead, Okay.
So of course, there are somepros to going solar, especially
in a Sunbelt like this, whereyou get a lot of kilowatts.
(26:59):
And getting that solar willobviously reduce your insurance
payment.
You're still paying If you'releasing, you're leasing the
equipment.
But some buyers look at it asan issue.
Younger buyers, likemillennials.
They like the idea of the solarpanel.
It could be good if you alreadyown the house and going solar
(27:21):
might be a benefit if you planon staying there and owning it
and having the reduction abenefit if you plan on staying
there and owning it and havingthe reduction In 2024 and 2023,
there are rebates with theInflation Act that you get 30%
back.
There are some cons to it.
You could get some damage toyour roof when they put the
solar panels off.
If you're doing a lease and aremoval, the good news is before
(27:43):
they put them on, they have tomake sure that the roof is
stable.
Speaker 1 (27:47):
Yeah, and they usually warranty it within your
contract.
But back to the question of dothey increase your home value?
An appraiser only gives valueon panels that are owned.
So yeah, leases don't count.
Yeah, leases don't count.
If you have a power purchaseagreement, you have a lease or
even financed.
They take that intoconsideration.
(28:08):
But if there's still a paymenton it, it's not technically
owned.
They're not going to give you.
If you're assuming the payments, they're not going to give you
the value add for that becauseyou're still paying for it.
So that's one of I guess athorn in my side when it comes
to solar is I hear all the timethat the salespeople that come
(28:30):
out there that are unregulated,and I mean they're just
unregulated and reckless.
They go out and they tell peoplethat, yeah, you can get this
lease, do this and it's going toraise the value of your home,
but a lease will not.
Yeah, that's completelyincorrect.
You get zero value if it'sleased.
(28:50):
Not that it's not a good idea,but don't think it's going to
add to your home value.
Speaker 2 (28:55):
Yeah, and also a lease is going to diminish your
buyer pool.
Yes, because if they're havingto take over a lease of that
solar panel, that is going tochange the buying power of them
through the lender, because it'ssomething they're going to have
to qualify for.
It's not like an electric billthat they're not taking into
consideration.
Speaker 1 (29:14):
And you've got to be very cautious because sometimes
people will go out and againthese unregulated salespeople.
Sorry, solar guys.
Speaker 2 (29:22):
I'm harping on you here For somebody who knows you
off of this site.
You're being very nice.
I am being very nice.
Speaker 1 (29:29):
Very politically correct over there.
But they go out there and thebuyer will say like, oh, I don't
want to pay more than $50 amonth for the panel.
So they'll say, okay, noproblem, we'll give you panels
for $50 a month.
But they give you panels.
They'll just throw a couplepanels up on your roof that
don't do much to eliminate yourpower bill.
You still have a large powerbill and you have these stupid
(29:50):
panels up there.
And then you have a buyer thathas to assume these and the
buyer is looking at the powerbill versus the solar bill and
saying what's the use of thesolar?
This makes no sense and that'san issue.
So you really have to becautious and review over how
(30:11):
much of your power load thosepanels are going to cover and
make sure it makes sense beforeyou do this, because you are
locked into a 30-year lease andit does have to transfer to the
new buyer and it is an issuewhen you sell your home.
Yep.
Speaker 2 (30:23):
All of that is true.
Speaker 1 (30:24):
Yeah, so be cautious, that's all.
Speaker 2 (30:27):
Well, I guess, be diligent Really, know what
you're getting into and know thepros and cons of buy versus
lease and what that means movingforward for you.
Speaker 1 (30:37):
Yeah, yeah, absolutely.
Good job it's not that it's abad idea.
You just have to make sure todo your research and make sure
that you're getting into theright thing.
Yeah, yeah.
Speaker 2 (30:47):
Totally.
Speaker 1 (30:47):
Yeah, that's very good advice, ma'am Thank you,
thank you and once again, comesee us tomorrow night.
We'd love to see you out thereat the trunk or treat.
Six to 8 PM, that is October18th 2024.
Speaker 2 (31:03):
It is so much fun.
You guys.
Come get a little Halloweenspirit out there and enjoy the
fall weather that we finally gotafter that heat wave.
You were gone.
You missed it.
It was like summer all thebeginning of October.
But if you like what you arelistening to and you want to
join our tribe, make sure youlike, share and subscribe so
(31:23):
that way you'll be notified andyou can join us.
We're here every Thursdaytalking everything real estate
in Las Vegas and Trish, ifsomebody wanted to have an
actual real estate conversationwith you, find out, maybe, how
to start a buying process or ifthey should do solar or any of
those things, how do they getahold of you?
Speaker 1 (31:40):
You can reach me on my cell phone 702-308-2878.
And, Tiana, how do people getin touch with you?
You?
Speaker 2 (31:47):
can call me or text me.
I'm easy to get ahold of702-379-9948.
Speaker 1 (31:53):
And if you're watching our show, please go to
our link tree, which isrealtycheckvegas.
You can connect with us in allsorts of places there.
Speaker 2 (32:02):
And that's also where you can send your real estate
questions.
Sometimes it's a littleunnerving to reach out to
somebody.
You don't want to waste theirtime, but you just have a
question you need to answer.
So you can drop those questionsright there at realtycheckvegas
and we'll get those answeredfor you.
Speaker 1 (32:15):
Yep, absolutely, and we will see you guys next week.
Have a great week.
Bye Vegas, thank you.
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