Interesting Comment From A Local Banker

Interesting Comment From A Local Banker

Episode Transcript

(00:00):
The following is a paid commercial programon ninety four three WSC. The views
expressed by the host of this programdo not necessarily reflect the views of iHeartMedia
ninety four three WSC it's advertiser,sponsors or management. This is the Real
Estate Show with Rick Willis. Ishow about home sales, mortgage issues,
investing at everything about the American dreamand I mean the way. That's someone

(00:23):
who enjoys radio and really enjoys yourprogram. And now The Real Estate Show
with Rick Willis on ninety four threetelling you SC Hello, Charleston, Welcome,
Welcome to the Rick Willis Real EstateShow. Well, folks, the
real estate markets pretty steady, steady, as in the number of listings,

(00:46):
number of sales month over month,things don't change much. But when you
look at it compared to a yearago, there's certainly quite a bit of
change where market place overall is downin number of sales and yet prices continue
to rise. Don't know how manyof you saw the article that was in

(01:11):
the Post and Courier, the Bsection Business of this week had a headline
that said April home sales slipped forthe twenty first time in twenty two months
now if we go back twenty twomonths, what will discover is that there

(01:34):
were some interest rate rises. Youknow, the pandemic itself spurred on a
three year period where we had anaverage of a fifteen percent increase in the
price of housing fifteen percent for twentytwenty one and twenty two fifteen percent on

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average. And again for most ofthat time period we had the very very
low interest rates two and a halfthree three and a half percent, And
of course, then the Federal Reserve, in its infinite wisdom to put the
curing of inflation on the backs ofreal estate and people that are borrowing money,

(02:24):
started raising the interest rates, andwhat was three percent ended up rising
to about seven percent, slipped backa little bit, and now has risen
again to the mid sixes and sometimesseven percent. You know, people sometimes

(02:45):
wonder, well, what is thereason that one person can get six and
a half percent, somebody else hasto pay seven somebody else seven and a
quarter, somebody else five and threequarters. Well, the variables that determine

(03:05):
interest rate are some of the following. Number one, are you getting a
thirty year loan, a twenty yearloan, a fifteen year loan? The
term of the loan itself is avariable and a factor in terms of the
interest rate. The shorter the termof the loan i e. Fifteen year

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versus thirty years, the interest rateis lower anywhere from a quarter percent to
a half percent lower y because thelender is getting their money back quicker,
which means they can turn around andlend the money out quicker again on the
turnaround. So other than the lengthof time, of course, a credit

(03:50):
score makes a difference. The higherthe credit score, the lower, all
things being equal, the interest rateis going to be. And then there's
other variables and factors that come intoplay, one of which is called the
debt to income ratio. So alender when they decide to underwrite a loan,

(04:15):
they are concerned about what a borrower'sother debts are. In other words,
if they've got a lot of creditcard debt, car payments, student
loans, etc. Etc. RelativeTo their income, the higher that ratio
is on the debt to income.And of course they factor in also the
house you're intending to buy, allthings being equal, that also can impact

(04:41):
the interest rate that you would receiveand the down payment. Are you putting
no money down? Three percent down, ten percent down, twenty five percent
down. And here's something interesting that'salmost counterintuitive. Sometimes a lender can get

(05:02):
a better rate for somebody if theyput five or ten percent down, then
if they put twenty five percent down. And you might say, well,
why would that be that's counterintuitive.Here's the answer. Anytime someone puts less
than twenty percent down on a conventionalloan, the loan requires mortgage insurance,

(05:28):
and mortgage insurance protects the lender,so it's not just the borrower anymore that
they have to look to. There'sa a mortgage insurance and somebody puts twenty
percent down, Now it's only thebarrower that they look towards, not any
longer the mortgage insurance. So againa little counterintuitive, but at the end
of the day, the interest ratethat somebody receives is ultimately a function of

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the profit that the lender is goingto get. Said differently, for the
same borrower, if they went tothree lenders, and the three lenders quoted
you a different interest rate, sameborrower, same credit score, same price
property, you can get three differentinterest rates. Why is that, Well,

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different lenders have different rationales for howthey price money. Money is borrowed.
In other words, somebody that doesa lot of business might be able
to get a lower interest rate.Somebody who underwrites in house, as opposed

(06:41):
to having an outside underwriter might havea competitive edge over someone else. You
see, the banks don't really lendtheir money. They borrow money from the
Federal Reserve, and then these loansare purchased after their originating by Fannie Mae,
Freddie Mack, etc. And thenthey turn around and lend more money.

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Something that was I thought very interesting. A couple of weeks ago,
I asked a banker, not amortgage broker, but a local banker who
has a snail excuse me as alocation that's, you know, a hard
location in the low country. Isaid, what is your bank most need

(07:32):
right now? An outlet for moneyor money in the bank. By the
way, that's an interesting question anytimeyou ever want to talk with a banker
locally. And his answer was,and it surprised me, he said,
deposits. We'd like to have moredeposits so we don't have to go out
and borrow money to lend out.Sounds kind of strange, doesn't it.

(07:57):
A bank borrowing money so that theycan lend it. Yeah, but that's
what the answer was. And soif any of you are going to be
using a local bank, credit union, or bank that's got a real hard
location in the low Country, itmight behoove you to open an account there

(08:20):
if you don't have one, andput some money in it, because based
on the amount of money that youhave on deposit at the bank, they
can borrow money from the Federal Reservein a ratio of how much money you
have on deposit. Little things thathave taken me a long time to learn

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about this business. And by theway, for those of you that have
not been long time listeners of theshow, I do this show one hour
a week. When I'm not doingthis show, I am a licensed real
estate broker and I help people buyand I help people sell all kinds of

(09:03):
property. And when you're going tobuy or sell any kind of real estate,
never ever short change yourself with experience. You don't want to list or
have an agent help you buy that'sjust a member of your church. Because
they're a member of your church.You must demand that whoever you work with,

(09:28):
spending hundreds of thousands of dollars thatyou work with somebody very experienced.
You see, when you buy ahome, you don't pay the real estate
agent any commission. It's paid bythe seller when they list to property.
A seller decides how much they're goingto offer to a broker that is the

(09:48):
co op broker, and they authorizethe listing brokerage firm to offer x percent
of the total commission or x amountof dollars to the buyers agent. And
so you want to make sure youhave somebody very experienced. It does make
a difference. Okay, So thereal estate market is good. The real

(10:16):
estate and I'm saying good, it'sa relative statement relative to what the interest
rates are. April home sales slippedfor the twenty first time in twenty two
months, and it's to be expected. Now that being said, there's still
a shortage of houses for sale,an absolute shortage. Six thousand active listings

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in the Low Country, according tothe experts in this area, would be
considered a balanced market, where it'sa balance of the amount of inventory relative
to the people buying. As ofthis morning, two thousand, one hundred
ninety nine active residential listings, andthat's a long way from six thousand to

(11:05):
be a balanced market. So thatyou're still in favor of the seller.
Well, folks, we will beright back after this break and we will
talk more real estate. If youhave real estate questions, or if you
need a market analysis on your property, call Rick right now at eight four
three three two seven three zero oneseven, or you can email them at

(11:26):
Rick at Rickwillis dot com. Checkout Rick's bio and access all properties on
the MLS at Rickwillis dot com.Welcome back, Welcome back, Charleston.
Welcome back to the second segment oftoday's Rickwillis Real Estate Show. Well,

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folks, before the last break,I was mentioning there was an article in
the Post and Courier here in Charlestonthis week headlines about home sales decline for
twenty one out of twenty first timein twenty two months, and the newspaper

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article actually posted for a ten yearperiod what the median home price was for
the state of South Carolina, andI thought you might find it interesting.
For the years twenty twenty, twentyone, and twenty two those three respective

(12:35):
years, home prices for twenty twentyup thirteen percent, twenty one up fourteen
point nine percent. Last year twentytwenty two up nineteen point five percent.
You average the last three years,it comes in at fifteen percent plus or

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minor. Now, what I thoughtalso was interesting is looking at the previous
seven years twenty thirteen through twenty nineteen, and if you look during that respective
seven year period, appreciation or risemedium price home prices were anywhere from three

(13:24):
point eight percent to seven point threepercent, averaging five percent per year.
Now about that is if you goback fifty years and you'll look at the
fifty year average South Carolina, it'sabout five percent per year. Now what

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does that mean? Why is itsignificant? Well, according to the experts,
we are now in the same markettype cycle as nineteen and before,
which is a five percent appreciation peryear. Now, my own feeling is

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we're probably going to have at leasta five percent appreciation rate in certain types
of property, certain geographical areas,and in certain price points. And that's
because there's a shortage of inventory incertain types of property, certain geographical areas,

(14:37):
and certain price points. I wantto make sure you heard what I
just said, because averages are justthat, they're averages. So let me
repeat what I just said, andthen I'm going to make a comment on
what I said, so pre twonineteen, for the seven years twenty nineteen

(14:58):
and before here in South Carolina averagefive percent per year appreciation. And I
said that there are there are situationswhere I believe there's going to be more
than a five percent appreciation per yearfor certain types of property, certain locations

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geographically, and for certain price ranges. Let me give you an example.
If you looked to builders to helpbuild to help fill the gap of inventory,
you know, the builders can onlybuild so much so fast period,

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and new construction is down. Thecycle that it takes to put new construction
out in the market is continually gettinglonger. I mean when you look at
and you say, either there's thisgreat demand, you know, why don't
the builders step up and step in? Well, the answer is they are
cautiously. And there is a point, however, where a builder can only

(16:15):
build a home at a certain pricepoint. There's a bottom called you can't
build less than X dollars and wherethere's a real shortage. And I believe
there will continue to be a shortageas far as the eye can see.
Like I can't see the end ofit is in entry level housing, said

(16:40):
differently, affordable housing. Now ifyou look and see what's being offered by
way of new construction in South Carolina, particularly in the Greater Charleston area,
with the price of land, developmentcosts, labor, administrative fees to the

(17:03):
government, the price of housing.You don't virtually see anything under three hundred
thousand new construction. So what doyou think is going to happen to the
price of homes that are priced ata point below which there can be no

(17:25):
replacement? Said differently, what ifthere's a finite supply of houses that and
there will never be any more ofthem built ever, because the cost of
the dirt, materials, labor,profit, administrative costs prohibit there being a

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home built at a certain price belowa certain price. What must happen to
the value of a home? Itis a necessity of life, like you
have to live somewhere when there cannever be any more created. You see,

(18:11):
they can continue to mind gold andsilver. Stocks come and stocks go,
Companies come and companies go. Newthings are invented, companies go public,
Companies go out of business for incrediblereasons. I mean, look at
what's happening to Target and Budweiser withjust overnight or within a week you know,

(18:38):
each of those companies respectively lost nineor ten billion in market value because
of an internal decision that one personor a company or a few people made.
Where a real estate is solid andit's a necessity of life, people

(19:00):
are still relocating to the Greater Charlestonarea. I'm suggesting to you, whether
you're a renter living with mom anddad, or whether you are a person
that's retired or retiring or planning fora retirement, the absolute best place to
put your money is in Charleston areareal estate and buy something that can never

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be built again. It is pricedbelow replacement value. And by the way,
when I talk about buying a propertybelow replacement value, it doesn't have
to be a single family detached home. Could be a condo, could be
a townhouse, it could be aduplex. And when you start talking about

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real estate as an investment, stepone is safety. You want to have
your money safe. And the interestingthing about real estate and safety is,
even if real estate does not continueto appreciate at the level that it has

(20:18):
in the past, and I believeit will and again in certain types of
property, certain areas and certain pricepoints, you have income coming in.
So how would you like to haveyour money in a bank that is paying
you four percent and your principal balancethat you have in the bank is growing

(20:45):
also and providing a tax deduction ortax shelter while you have it there.
You see, you can buy stocksthat pay dividends, but you still have
the opportunity to have the foundation ofyour stock the value of your stock decline.
Correct. Well, I submit toyou that's not going to happen with

(21:11):
real estate. And you don't buyreal estate folks with the understanding that you're
going to quick turn around and resellit right away. You know, that
may have worked during the pandemic,it may have worked during other economic times,
but I'm suggesting to you it's thebest long term play to have your
money is in the right kind ofreal estate in the right location that you

(21:37):
buy at the right price point withthe right management. Folks. My name
is Rick Willis. I'm a realtor. I'd like to help you buy,
help you sell, and I wantyou to reach out to me. You
can reach me at eight four threethree two seven three zero one seven.
Email me please Rick at Rickwillis dotcom, Rick at Rick Willis dot com,

(22:00):
Visit my website Rickwillis dot com.You can read my bio, learn
about me, who I am,what my background is, and you can
access multiple lists directly from my website. Folks, I look forward to meeting
you and we'll see you right afterthe break. If you have real estate
questions or if you need a marketanalysis on your property, call Rick right

(22:21):
now at eight four three three twoseven three zero one seven, or you
can email them at Rick at Riquillisdot com. Check out Rick's bio and
access all properties on the MLS atRickwillis dot com. Welcome back, Welcome
back, Charleston. Welcome back tothe third segment of today's Quillis Real Estate

(22:45):
Show. I had a client ofmine, investor client, send me by
way of email an interesting article,and the article had to do with real
estate. The title of the articlethat he sent me this week was the
Housing Markets ice Age. If youdon't already own a home, you're going

(23:11):
to be screwed for years to come. That was the subheading of the article,
the Housing Markets ice Age. Well, there's a whole lot of information
covered in this article that I've alreadygiven you, but I want to highlight
a few things that I want toemphasize, or that I didn't cover with

(23:36):
you earlier this morning when I wasrecording my show. The National Association of
Real Tours has a chart as partof this article that shows how many houses

(23:57):
are for sale from two thousand andten until the present, so about twelve
years, and looking back two thousandand ten eleven twelve, we were still
coming out of the depression, ifyou will, the housing market collapse of

(24:22):
two thousand and eight caused by lendingstandards that should have never been as loose
as they were. Nothing like whatwe're seeing today. But in two thousand
and twelve, there was a totalof over two million, two million properties

(24:49):
for sale two million nationwide. Julyof twenty twenty, that number had decreased
to about a million. Eight.We are now currently below a half a

(25:11):
million houses for sale in the wholeUS, So the entire United States as
a dramatic shortage of housing. AndI promise you, as an active realtor,
I can tell you that myself andother real estate agents have people ready,

(25:33):
willing and able to buy, andthe inventory isn't there. Now.
Remember something, I forget what youread, really forget what you read in
publications or from people that are notexperts in real estate, and folks,
I consider myself an expert in realestate. Not only do I have expertise

(25:57):
in it, I have common senseand remember something about real estate. It's
governed by the law of supply anddemand. The population of the US is
increasing, the supply of housing isdecreasing. Let me say that again.

(26:23):
The population is increasing in the US, the supply of housing is decreasing,
and in certain price points, incertain areas and for certain types of property,
there's just never going to be anymore than what there is right now,
like forever impossible. Why because youcan't build. It's that you can't

(26:48):
replace it for the prices that areout there. So one of the things
themes in the article is that allthese people that bought properties from when interest
rates were at their lowest peak forall these years, interest rates, folks,

(27:08):
have been declining for forty years,declining. I was selling real estate
and buying real estate in the lateseventies eighties for twelve percent fifteen percent interest

(27:29):
We fell to a low of twopoints something percent in the last several years,
and now for the first time inthis past year year and a half,
interest rates have started to rise again, and there's no one predicting that

(27:49):
interest rates will decline to what theywere previously. Nobody So at the end
of the day, you want toown something that is a necessity of life.
You want to own something that cannotbe replaced, that is in demand.

(28:12):
It's governed by the law of supplyand demand. And almost fifty percent
of all the properties out there rightnow are owned by people that have a
sub four and a half percent interestrate loan, and those people, those

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millions of people that have these lowerinterest rates, are not going to be
as inclined to want to sell theirproperty and buy another one like they did
for the previous forty years when interestrates were declining. So it was a
good move as recently as two thousandand nineteen to sell your property that you

(29:06):
had a five percent mortgage and buyone where you could get a three and
a half percent. It's okay toreplace the five percent loan with the three
and a half percent loan. Sowe're going to have when the article talks
about the ice age, there's goingto be a permanent number of people that

(29:30):
are not going to let go ofthose lower interest rates to buy another property,
and that does two things. One, that property doesn't come on the
market as a listing like it mighthave. And number two, even though
they're not going to be buying anotherproperty, perhaps to replace the one they're

(29:52):
in, if they listen to aguy like Rick Willis, they might keep
the one they're in and put ahome equity line of credit on it,
pull out some of the equity andbuy an investment property, or keep the
one that they have, not borrowagainst it, and take other assets that

(30:14):
they have and buy an investment propertyin the area that is high demand,
in the type of property that's inhigh demand, and in the price range
that is in high demand. Folks, remember those three things, because if
you can remember those three things andyou decide to invest in real estate,

(30:41):
whether it's to live in or torent out to other people, you're going
to make money and you're going tohave your money in the safest possible place.
Let me repeat those three and I'llprobably continue to repeat those three.
If you buy the right kind ofproperty in the right location or area and

(31:03):
at the right price points, youhave a gold mine and you have absolute
security. You see, Folks,people can make predictions about cryptocurrency and gold
and silver and fine art or otherthings. But at the end of the

(31:26):
day, they're just predictions. There'sno certainty behind them. There's a way
of saying, oh, well,yeah, the stock market will recover,
the stock market will go up,because the last fifty years it's always gone
up an average of blank percent.You've got to be in it for the
long term. And I say toyou, you cannot look back historically today

(31:51):
on the stock market with any degreeof certainty and try to predict the future.
Why because the future is unlike anythingthat we've had in the past.
Look at the debt that we havein this country, and look at what's
going on right now in terms ofdiscussions of the debt, and what level

(32:16):
of confidence and certainty is there thatpeople are going to get this debt handled.
It's a real issue, folks.Currency. Other countries are looking to
bypass the US dollar and either createa new currency, some kind of electronic

(32:37):
currency, or replace it with theChinese yen or something like that. And
if these things should happen, andthey're actually being talked about like as a
possibility, really, well, whoknows what's going to happen to the stock
market and your retirement and your furrowone K and your IRA folks. I

(33:02):
have been saying this for as longas I've been on the air on the
radio show, that you want toremove your money from a paper asset,
which would be your retirement account,a paper asset, and replace your paper
asset with a tangible asset. Andwhen people talk about tangible assets, they're

(33:27):
usually referring to precious metals i e. Gold and silver. But you see,
you don't own when you own goldand silver, how much income are
you generating to yourself while you ownit? It has to go up in
value, correct, and it goesup in value only in proportion to how
many other people want it and buyit. Yeah, supply and demand does

(33:52):
play a role there. But realestate is a tangible asset that people actually
need. It's a necessity of life. And again, you buy the right
kind of property in the right locationat the right price, guess what,
You're not only going to get incomeif you're renting it, you're going to

(34:15):
get growth. And for those ofyou that don't own a home, I
know you're out there comparing what you'repaying in rent for what your monthly payment
would be and it doesn't look good, does it. Well, you know
what. It may not look good, but guess what your rent is going

(34:36):
to do next year and the yearafter, and the year after and the
year after. You have to bea long term thinker, folks, Yeah,
you can. You can't go backand say if I only had and
I wish I had a year twothree ago. You've got to deal with
where we are and what the realitymight be for the future. Look at
buying a home as an investment,not just a place to buy a different

(35:00):
type of property by a lower pricepoint. Put some money from what might
be normally a contribution to your retirementaccount, apply it towards your mortgage of
your home, because it'll probably endup being more secure and a better place
to have your money. Folks,I believe in real estate. I have

(35:22):
my money in real estate. WhenI invest, I only invest in either
a real estate real estate itself,or a mortgage, and those are the
too safest place to have your money. When you lend money on a mortgage
short term, of course, youare secured by real estate, so it's

(35:43):
still basically backed by real estate.Well, folks, I'd love to meet
with you. Love to talk withyou individually. See how I can help
you buy or sell your primary residencean investment property. And if you have
money in the stock market and youwant to learn how without a penalty,
to convert your money that you havein a four oh one k ira into

(36:06):
buying real estate and again no penaltythat you pay at all to do that.
I can coach you in how todo that and how to keep your
money safe, your retirements safe.And I love the opportunity folks reach out
to me. Call me directly,Rick Willis eight four three three two seven
three zero one seven, email meRick at Rickwillis dot com, Visit my

(36:30):
website Rickwillis dot com, check meout my bios there, and also you
can access multiple list I'll look forwardto chatting with you and we'll be back
right back for our final segment afterthis break. If you have real estate
questions or if you need a marketanalysis on your property, call Rick right

(36:51):
now at eight four three three twoseven three zero one seven, or you
can email them at Rick at Rickwillisdot com. Check out Rick's bio and
access properties on the MLS at Rickwillisdot com. Welcome back, Welcome back,
Charleston, Welcome back to the finalsegment of today's Wills Real Estate Show.

(37:16):
Well, I always get to thisfinal segment of the day and look
at my notes, look at theclock, how much time I have,
and wonder, what is it reallythat would make a difference to you if
I spoke about it. We've gotpeople listening to the show each and every
week that have never heard me before. We've got people that have heard me

(37:38):
continuously for a decade or more.We've got people that have no interest in
buying or selling just have a curiosityabout real estate. We have people that
are thinking of selling, people thatare thinking of buying, people that are

(38:00):
actively looking to buy. What isit that I could say that would be
meaningful to you? Well, somethingthat is almost never spoken about by real
estate agents in the public arena issomething that I'm going to speak about next.

(38:21):
And it's kind of a touchy subjectif you're a real estate agent to
just have a conversation about this,and I'll tell you why as I get
into it. If you're going tobe selling your property, Somewhere along the
line, there's a blank line ina listing agreement that says real Estate Commission

(38:44):
And before I get even into talkingabout what a seller pays in terms of
a fee to get their home sold, I want to say that in the
world of real estate, we donot have any policies or we don't price
fix. There's no collusion in termsof between real estate companies as to what

(39:09):
we charge between different companies. There'sno conversation about, hey, let's all
do this or that. But thereis in the business competition, and competition
keeps the fees that are charged acceptableto the seller, or they wouldn't pay

(39:32):
them. Now, if you wentand you looked at properties that are for
sale, and you looked at whatthe commission is being offered to a buyer's
agent, and there's a reason towhy I'm talking about buyer's agent when I'm
talking about a seller paying a commission. It is the norm in our business

(39:54):
that for a real tour, whena real tour lists a property, there
is a total commission that the selleris going to pay, and a part
of that total commission is going toremain with the listing broker, and a

(40:15):
portion of that commission is going tobe paid to a buyers broker. And
notice I said broker, I didn'tsay, agent. You see, when
you list your property, you arelisting it with a company, and that
company has a licensed agent who iswhat we call your agent. But the

(40:39):
actual listing agreement is with the company, and any given company can have a
policy and procedure as to what theycharge. Now, in this day and
age, many of the companies willgive the individual real estate agent the freedom

(41:01):
to decide themselves as to what commissionis charged or what commission will be acceptable.
Years ago, that was not thecase. I got into business in
the nineteen seventies, and way backin the day, a company would say
this is what we charge for sellinga property, and a company would oftentimes

(41:25):
have a different policy than another company, and in order to get an exception,
we as an individual real estate agenthad to go get permission from our
manager or broker. Well, inthis day an age today of real estate
agents being empowered, for the mostpart, most individual real estate agents can

(41:45):
choose and decide what that commission willbe. Now, it's important to know
as a seller that there's a fineline between paying too much and not enough.
And when I say paying too much, there are some individual real estate

(42:05):
agents, companies and teams that whenthey talk to you, the seller about
what they're going to do to getyour home sold. They've got all these
whistles and bells and things that theytell you in a listing presentation to impress

(42:27):
you. I mean, we're goingto make up a brochure. We're going
to advertise it in places where peopleare going to see your high end property
in New York. I know oneagent right now who's talking to me about
advertising a higher price property in theNew York area, And I'm thinking to

(42:49):
myself, are you kidding me?Where are you going to advertise it in
New York? You're going to putit into New York Times. Do you
think people in New York are goingto look in the New York Times newspaper
for a property in the South Carolinaarea? Do you really think that's what's

(43:12):
going to happen? Or do youreally think they're going to go online?
You see, there's all kinds ofthings that a real estate company and or
agent can show you, full colorbrochures. We've got a database of so
many thousands of buyers, YadA YadA, YadA YadA to impress you to get

(43:37):
a fee that would be higher thanmost other companies and or agents would charge.
The question I ask you to askyourself, is what's really needed really
to get a property sold? Andwhat percentage of listings are actually sold by

(44:04):
that individual company or that agent orthat office. I want to make sure
you're understanding this. You see,when I go out and I talk to
a seller, I bring with melistings in that same neighborhood. And the
listings that I bring with me whenI talk to a seller will show if
they're sold. It'll show who thelisting company is, and who the selling

(44:30):
company is, who the listing agentis, and who the selling agent or
the agent representing the buyer is.And guess what you discover A very very
high percentage of the time you discoverthat the very same agent who listed the
property is not the same agent whosold the property. And also a high

(44:51):
percentage at the time the company thatlisted the property is not the same company
that sold the property. Said differently, so many of the things that you,
the seller, are being told toimpress you as to why list with
this agent or company have no bearingon getting your property sold. So you

(45:13):
don't need somebody to give you alisting presentation which you really want. If
you're selling or thinking of selling,is someone to tell you based on where
your property is located, the pricepoint that your property is in, how
long you could expect it to taketo get your property sold, and what

(45:35):
are the percentage of probability that youthe listing agent are going to be the
one or the agent that you're talkingto is going to be the one to
actually sell it versus another company andor agent in multiple list Now, I'm
only going to say to you thatI, Rick Willis offer negotiable commissions based
on what really it'll take to getyour property sold. So I want you

(46:00):
to reach out to me and callme. Let's have a conversation about what's
needed to get your home sold andhow you can do it as cost effectively
as possible. Call me directly,Rick Willis eight four three three two seven
three zero one seven, email meRick at Rickwillis dot com, Visit my
website Rickwillis dot com and look forwardto meeting you. Have a great weekend.