Duncan Duo 3-08-26

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Episode Transcript

Speaker 1 (00:00):
Welcome to the Duncan Duo radio show hosted by Andrew Duncan,
the official real estate agents of the Tampa Bay Lightning.
That's Tampa Bay's top selling real estate team with over
three billion dollars in sales and thousands of homes closed.
Sell your home with these guaranteed it fourteen days or
they'll buy it, basically the duncanduo dot com. Here's your host,

(00:22):
Andrew Duncan.

Speaker 2 (00:24):
I'dy Sunday Tampa Bay. Just want to jump right into
content today talking about the real estate market like we
do every Sunday here on WFLA News. A lot of
stuff happening in politics this week that have a massive
impact on real estate. So I want to break it
all down for you and help you understand what that
means in Tampa, in your neighborhood, in your real estate market.

(00:47):
First and foremost, interest rates have hit basically a several
year low prior to the attack. You know, between America, Israel,
and Iran, they're going to kind of bob up and
down the to be a little bit volatile for a
period of time. Anytime there's conflict or war or bombings,
any of those things cause bond yields to you know,

(01:09):
to just be really volatile. So you see some swinging
back up and down depending on what the president says
and what likely resolution is or if there's a cease fire.
So but first and foremost, that's the story with the
real estate market. Right now, rates are at a several
year low, and it's a great opportunity for home buyers
to take advantage of that. I feel like right now,
it's kind of like if you if you monitor the

(01:31):
financial markets at all, you understand, you know that the
markets move on information. Okay, so so stock markets, for example,
the crypto markets. Real estate also does that same thing,
but it's much much slower. So for example, a FED
rate cut, a FED rate cut doesn't have an instantaneous
impact on mortgage rates, but that news tells you what's coming. Right,

(01:55):
So if you look at, you know, the the yields,
and if you look at FED rates compared to mortgage
rates and you look at a chart, they're definitely in
line with each other. They definitely move together. They're not exact,
and there's certainly a difference between the FED rate and
mortgage rates. But as the FED rate goes down and
as it goes up mortgage rates kind of do the

(02:16):
same thing. However, there's a lot of other things impacting
those mortgage rates. And so the reason why I think
right now is such a great opportunity for home buyers
and especially home buyers that are going to be buying
long term. Okay, so you know, anyone that owns real estate,
the best benefit of real estate is a long term vehicle,
short term owning it a year or two and then

(02:39):
selling or you know, flipping or you know, rental properties.
I'm not necessarily talking about that right now. It certainly
can be beneficial, but you can also get stuck from
a timing perspective where the market, because of how slow
moving it is, doesn't move quick enough. So if you're
a home buyer and you haven't yet bought, or you're
an owner and you're thinking about upgrading and you're looking

(03:01):
in at least a several year window, let's call it
a four year window, maybe a five to seven year
window long term, right now is probably one of the
best opportunities to act that I've seen in a while.
And I want to break down and explain it why.
First and foremost, our interest rates have started to soften.
We know historically that when interest rates drop, prices rise. Okay,

(03:25):
when we look at the massive appreciation that we saw
during COVID, we saw thirty plus percent annualized appreciation in
Tampa Bay, we saw that it was massive. Right, we
had interest rates at record lows. Well, the last few
years we've been kind of very stagnant. We've been hovering
around these high rates. We've seen reduced home sales, and

(03:45):
even in January we still saw low home sales, but
there were a lot of other factors with that. But
the point I'm making is that's the opportunity. That's when
you want to act. Okay, It's like if you know information,
like in the public market. So let's say that you're
investing in a stock and you learn information about it

(04:05):
that makes you more optimistic about its growth. Well, that's
the same thing that's happening in real estate right now.
A lot of the data and information is aligning to
be very optimistic for future gains. So, first, I already
talked about interest rates and the importance and how those impact.
The second part of that is the fact that Florida
is going to see major property tax relief. The majority

(04:27):
of real estate buyers and sellers in this country operate
off of a payment schedule. They're paying way more attention
to the payment than they aren't necessarily to prices. But
when payments get reduced aka interst rate drops, or we
see drops and insurance which we're not likely to see
at least much of and drops or massive drops or
abolishment of property taxes, those payments get really reduced. And

(04:50):
so when those payments drop, it opens up affordability for
more people. More people can qualify if their payment is
lower because they're taxes is less because they don't have
to pay tax, or they have a reduced tax. Okay,
there is definitely movement that is going to make major
property tax relief in Florida a thing. How much of
that it remains to be seen, but by twenty seven

(05:12):
I expect it to happen. And what we're going to
see as a massive drop in payments, which is going
to cause more buyers to flood the market. And what
happens then prices rise. We see all this data and
information and we know it's coming. That's why I think
now is such an great opportunity for people that are
going to upgrade their home, but they're going to sell
and then buy, or of course they're going to buy

(05:34):
a home that have been sitting on the sidelines because
I believe the information and everything coming out says that
the next several years of real estate market is going
to be way better and see more appreciation than the
last few years have seen. If you look at our
average sell price, we did see a bump up in January,
but it's really been pretty stagnant the last few years.

(05:54):
It hasn't changed much. It's changed basically with inflation and
kind of match that we really haven't seen much appreciation
at least in our core you know, average markets. If
you talk about the luxury market, completely different conversation because
we've definitely seen appreciation there. So back to what I
was saying. In addition to the interst rate cuts and

(06:15):
the likelihood that payments get reduced with some property tax relief,
people are starting to act ahead of that, right they
know that this happens, So if they buy now, then
they get the benefit later on of the tax relief,
which will cause prices to rise, and the benefit later
on likely of a much more dubvish FED that is
going to cut FED rates and move interest rates down.

(06:36):
How much. It remains to be seen obviously how long
the Iran war lasts will have an impact. There's a
lot of things will have an impact. But most people
are predicting that we're going to see some interest rate
cuts this year next year, which means payments get cheaper
on both taxes and mortgage, which means prices historically rise.
So you know, consumer the acts today, whether they're moving

(06:59):
up and buy that more expensive house or whether they're
buying a home and they don't presently own one, that
gain and value they're going to get the benefit of.
And then later on when the tax benefits you know,
kick in, their payment drops, and of course they have
the ability to refinance when rates drop even more than
where they are now, which is expected. Now, I want
to talk about a couple of other reasons why I'm

(07:21):
very optimistic about the next couple of years in real
estate and why I believe again the next four to
six year track is going to perform way better than
the last several years. Those points are are solid, but
there's some other things happening. First and foremost, the President
has used two hundred billion dollars from Fanning and Freddy
to buy mortgage backed securities, which dropped rates. This is

(07:44):
a pro business president that has a strong background in
real estate and finance, that understands the importance of people's
homes and value. He is going to juice the market.
He is going to influence the market, whether you like
it or not, whether you think it's you know, pure
capit or not. Uh, he is going to I'm obviously
optimistic about that. The second thing is is you've got

(08:07):
the next several months where the Senate and the House
still have majority. We don't know if they will after
the midterms, so they've got a few months to to
pass some pro real estate legislation. There have been multiple
acts and multiple propositions that are being put forth in
the Senate House that would eliminate or reduce hedge funds
and their buying capabilities. The President is talking about taking

(08:31):
Fannie May and Freddie Mack and doing an IPO and
raising funds and making them more of a public enterprise.
The you know, those are obviously very optimistic. Uh. The
a new FED chair in May likely not an instantaneous
cut in rates in May. It'll take a little bit
of time. They'll be scheduled meetings, they'll be kind of
a politicization of that process and and kind of regrouping.

(08:55):
But I suspect that in the second half of the
year we see some cuts. And then in addition, you've
got a Treasury secretary that is, you know, adamantly focused
on improving the real estate market and making thing and
improving affordable housing, improving the you know, reducing regulations on
new construction so the more inventory can be created, Improving

(09:17):
some real estate finance things. All of those things are
heading in a direction that they're going to juice the
real estate market and improve it. Now again, skeptics say
they shouldn't be doing that, and they should let the market,
you know, do what the market does. But there is
no question that those things are happening. And so I
believe there's going to be legislation pass this year that
improves the real estate market. I believe that Trump is

(09:39):
very focused on improving rates. I believe he has a
commitment from Warsh that rates are going to get pushed
down or he wouldn't have or he wouldn't have put
him in place, even if he doesn't want to say that.
And then of course, the natural market things in our state,
reduced property taxes and interest rates heading in a downward direction.
But I think there's one more thing, but I really

(10:00):
want to focus on here, and as a twenty year
real estate agent, twenty plus year real estate agent also
involved in the mortgage business, there is inefficiency in the
mortgage business that will allow I think, some pressure and
some improvement on fees and costs. The President has made
it very clear he's pretty anti big bank. Okay, He's

(10:21):
come out and sued JP Morgan. He's come out and
tried to put ceilings on interest rates on credit card debt.
He's also come out in favor of crypto and that
industry against the banks in terms of yields. The President
is very focused on benefits for the consumer and not
as much so benefits for the bank. And guess who

(10:43):
makes the most money in the mortgage market. The big
banks do so Again, I believe the president is going
to be the president and the administration is going to
be very focused on improving real estate. That will have
a massive impact over the next several years. So do
I think we're going to get to thirty percent appreciation
in Tampa Bay? Now? I don't. But are we going
to get back to seeing some really significant appreciation above inflation,

(11:05):
I think so with all these factors, So if you're
a home seller that's going to sell to move up,
if you wait and prices go up, you lost Okay,
even if the if you're moving up and let's say
prices go up ten percent and you're in a cheaper
house than the one that you're going to buy, you
lost money. If you're a person sitting on the sidelines
waiting for the right opportunity, the majority of the people
waiting for the right opportunity, guess what, they wait forever

(11:28):
because they're not really good at judging the market. They're
not really an economist. And even the big banks and
financial institutions that pay analysts billions of dollars a year
they get it wrong. So don't think that you can
time the market and know better. What I can tell
you is all the trend is moving in the right direction.
Could that mean it doesn't start appreciation doesn't start really
kicking for six months maybe? Could it take a year? Maybe?

(11:48):
But if you're buying over the next four or six
years and you wait, you are going to miss out.
That's my take on it. That's what I think is
coming for Tampa Bay real estate. I think it's going
to be. I'm very optimistic and bullish about where the
market is going over the next several years. And the
data is all pointing to, you know, some governmental influence,
some rate cuts, and some property tax relief, and the

(12:09):
top all of that off were another you know, a
few months past, you know, horrific hurricanes that we had.
That's probably the only wild card in all of this
that could risk the Tampa Bay real estate market suffering
a setback would be another really active hurricane season with
massive storms that do you know, you know, hundreds of
millions of dollars in damage like the last two did

(12:30):
back to back. So if we have another clean hurricane season,
our real estate market is going to absolutely crush it.
And I'm going to feel sorry for the people that
waited to buy or that waited to sell and then buy,
because they're going to miss out on some massive appreciation.
So reback continues conversation after a quick break.

Speaker 1 (12:47):
Back to the Duncan Duo radio show, The official real
Estate Agents of the Tampa Bay Lightning Top team in
Tampa Bay over at three billion sold in counting. Now,
your host Andrew Duncan.

Speaker 2 (13:00):
So I want to talk about the luxury market next.
I tease this a little bit in the first segment
where I kind of gave the first segment, I focused
really on what's happening in Tampa Bay real estate over
the next few years, in my opinion, based on all
the data, what's happening in the government, what's happening with
you know, politics with our state, with you know, proposed
reductions and property taxes, interustrates all that. But I want

(13:21):
to talk about another segment of the market because when
we talk about real estate, one of the things a
lot of people miss is how the markets are kind
of like segmented off into different trajectories. So when I
talk about luxury, I'm talking about homes above a million dollars.
In some areas of Tampa Bay, a million dollars is average,
So in those areas, it's probably more like two million dollars.
I'm talking about coastal stuff, okay, because that's where a

(13:43):
lot of the biggest, you know, the most valuable real
estate in Tampa Bay is. So the luxury market operates
much different than kind of your average core market. You're
dealing with affluent individuals that have cash that have money
that you know that really aren't operating off of a
payment and where interest rates don't matter as much. Okay,
So I'm very bullish about luxury real estate market in

(14:06):
Tampa Bay for reasons not really related to interest rates,
even though they have an impact, but more related to
some kind of geopolitical things as well as something's happening
in other states. So I want to talk about those
a little bit in terms of how they're going to
impact the luxury market. Moving forward, our luxury market, I
believe will outperform a lot of luxury markets across the country.
One first and foremost luxury home buyers are very focused

(14:29):
on taxes. They pay attention to their taxes, They look
for creative ways to save on taxes. They hate taxes, okay,
that they just do. They feel that they're a waste.
They feel that they give money to the government and
the government blows in on dumb stuff, and so they're
very focused on taxes. The second thing is that they're
focused on is pro business, pro growth environments, and so

(14:49):
I believe Florida is going to continue to be an
attractive place for the luxury real estate market. We're seeing
it in South Florida. We're definitely getting some trickle of
that into Tampa Bay as our luxury market's improved. And
it's really a few things. One no state income tax.
Other states across the country, especially states that have typically

(15:10):
been states that a lot of wealthy people live in,
are enacting policy that is very anti wealthy people. Wealth taxes,
increased sales taxes for people above a certain income, including
California propositioning almost like a stealing tax where they take
a portion of your wealth, you know, even including not

(15:31):
liquid wealth, like if you own a company, they want
to take a portion of it. So while those things
haven't passed the fact that they're being discussed as moving
people here. Okay, we just saw Zuckerberg bought a mansion
in South Florida. We've seen multiple hedge funds like Peter
Thiel moved his company to South Florida. We've seen these
huge billionaires leaving California New York because the environments aren't

(15:52):
pro business. The environments are anti business and very pro
tax the wealthy, and they don't like it. Okay, So
we're going to continue to see our luxury market benefit
from those things as long as we avoid as long
as we avoid hurricanes. Okay, So, now does that mean
every single person that's a billionaire or a multimillionaire is

(16:13):
more focused on taxes. No, but there's enough of them
that feel like the draconian responses of the budget deficits
in some of these states is simply stealing from them.
There's enough of them out there that it's going to
continue to bring people to Florida. And so here's what happens.
If some huge billionaire moves to Florida and launches his
business or removes his business here, it can't all operate

(16:34):
in Miami. They may move to Miami, but they've got
a private jet and a helicopter. They can go back
and forth to Tampa. They'll have operations in Tampa. Tampa
will get some business benefit from billionaires moving to Miami.
The other thing that's happening with our luxury real estate
market that I think is important, in addition to the
political things happening, we're a couple of years post really

(16:56):
bad hurricanes. Now, those really bad hurricanes spook a lot
of people. They boot people wanting to start their business here.
They spook people wanting to live here. You know, However, mathematically,
really successful people have analysts and they could do the math.
The statistical probability of one of those storms hitting us
again is pretty low. So you're seeing them understand the

(17:20):
math and the risk behind that and being more likely
to move here now that those things have happened. Okay,
so there was a fear of moving here when we
hadn't had anything for a long time. Okay. You know,
really successful billionaires operate off of risk and math and probability.
That's how they run their businesses. So the risk or
probability changes when you've had a couple of those big

(17:40):
storms hit The likelihood of that happening again soon, especially
back to back, is very very slim. So now that
it's out of the way, it makes them less resistant
to moving here. So we're going to see more wealth
come into Tampa Bay. We're also seeing development adhere to
wealthy people. We're seeing these amazing developments happening. You've got
Marina Point, You've got you know, you've got the Pendry downtown,

(18:01):
and some of the developments happening on Water Street. They're
really catering to a to a different clientele. You've got
a more luxurious approach to downtown Tampa with you know,
higher end restaurants. You've got the coast of Penelas County
being rebuilt because of the storms, a lot more modernization
of architecture, a lot of those trends that are successful

(18:22):
in California you're seeing coming here. So all of that
being said, our luxury market is going to operate at
a higher level and going to outperform our average market
in the enterim because of all of those things. And
I want to say this too, because interestrates, while they
don't infect the purchaser of the high end real estate,
there is a trickle There is a trickle up effect.
So for example, the guy that's selling his one million

(18:45):
dollar house to buy the three million dollar house, so
the three million dollar guy buy the seven million dollar
house so he can buy the fifteen million dollar house.
There's a transaction at the very beginning of that of
that chain that does where interest rates do matter. So
when interest rates drop, that first trend action helps create
a domino effect that does impact affecting the luxury market.
It's not instantaneous, but it does have some impact. While

(19:07):
the consumer, you know, buying a ten million dollar property
isn't just focus on interest rates, that transaction may not
happen if there is an a domino effect of the
five hundred thousand dollars guide that's selling to buy the
million dollar house. Okay, so interest rates do impact it,
just not from the same perspective. So hopefully that makes sense.
Obviously super optimistic about the luxury real estate market. But

(19:28):
there's one part of it that I want to talk about.
If you're a luxury buyer or seller right now and
your agent isn't finding off market opportunities, I want to
apply for the job to help you. Our team has
a group of people as well as AI helping us
find those opportunities, Navigate through our database, navigate through public record,
reach out to those consumers. So if you have something

(19:49):
that's a niche where you're having a hard time finding it,
or maybe your agent is only using the MLS, I
call it the you know, the lazy agent using the
magical MLS print out for sales. If that's all you're getting,
you need to be with an agency that is aggressively
looking for those off market things. Please give us a
shot at the Duncan duo dot com or shoot us
a text with what you're looking for at eight one, three,

(20:11):
three five nine eight nine nine zero. Some of the
best luxury I showed a twenty million dollar property this weekend,
open waterfront, incredible property. And some of the best opportunities
never hit the market and just happen from those types
of events or having the relationships with wealthy people. We
would love to apply for the job again. You can
text us at eight one, three, three, five nine eighty

(20:32):
nine ninety and we be back after a quick break.

Speaker 1 (20:35):
And we're back with the Duncan Duo radio show, Tampa
Bay's number one real estate team, over three billion in sales,
thousands of heavy clients and official partners of the Lightnings.

Speaker 2 (20:45):
Now your host Andrew Duncan talking in the last break
about the luxury real estate market in Tampa Bay and
how a lot of the best opportunities sell before they
ever hit the market. If that's you, if that something
you're interested in, if you're having a hard time finding it,
if your agent isn't bringing you those opportunities you might

(21:05):
have you might have a lazy agent that isn't using
the tools and resources available today. So you can text
us eight one three, three, five nine, eight nine nine
zero our caller office and get to our team that
will help scout those off market opportunities. But what I
want to talk about next kind of aligns with that.
It was kind of funny. So I have a client
that kind of gave us a description of what he wanted,

(21:26):
and there's like three of them that exists in South
Tampa and and you know, gave us a budget of
up to twenty million dollars, and you know, he you know,
went out and we we looked at one of the options,
one of the three. The homeowner responded to us and
had some interest. It was funny though at first because
my assistant Jesse, reached out to the homeowner to try

(21:48):
and get an appointment. The homeowner thought it was like
an AI text and he was like, you know, leave
me alone, and it wasn't. It was actually a real person. Now,
we may use AI to find the opportunities and get
the information, and certainly we have AI texting and AI
calling enrolled in our business, but when we're doing some
of the higher end stuff, you know, we're really not

(22:08):
relying on AI. We're still doing you know, kind of
the relationship calling texting. It may help us, but we're
not using the communication tool because people are kind of
tuned out by it. But I talked to my team
this week about changes that I think are coming to
real estate from AI. And I'm an investor in, you know,
multiple AI companies. I'm a big believer that it's going

(22:31):
to improve productivity and it's going to you know, have
a massive wave of production improvement and it change how
our employees work. However, at the same time, it is
going to cause companies to change how they're staffed in
the real estate business. I've said to my agents many times,
I don't think AI is replacing real estate agents. I
do think the agents that effectively use AI are going

(22:53):
to replace the ones that don't. So, you know, I
talked to my team about this. I think AI can
certainly help improve operations improve you maybe replace some administrative
and operation staff in some real estate companies. But the
key to this is is you have to understand, you know,
the productivity and the performance improvement of AI while also

(23:14):
not overdoing it. I think there's going to be a
resistance to AI in that consumers are already starting to
get numb to the robotic calls and text messages, and
at some point there's going to be a benefit or
a perceived benefit of not having to deal with AI
at all. And in fact I saw that with the
customer this week, that's the owner of a twenty million
dollar house. He was resistant to communicating with AI. It

(23:37):
annoyed him. Right, It'll take a while for that barrier
to break down, for AI communication to get good enough
to where people aren't as annoyed by it. And certainly
I also think there's a demographic approach to this. Someone
my age, you know, in their forties, in their fifties
and even older, maybe very ANTIAI or anti communicating with AI.

(23:57):
But the more normalized it becomes, or normal it will
be for the twenty year olds, they get to thirty
and forty, and it'll just be a normal part of life,
kind of like you know, texting on their phone or
FaceTime or TikTok was several years ago, where you would
have people my age that were very anti tic tac
TikTok or anti snapchat. Right, the same thing is coming

(24:19):
with AI. It will evolve into a tool that a
lot of people get a benefit from. It will massively
change the economy. It will improve productivity. But there are
some people their jobs that are going to get lost
if they don't improve, if they don't either improve their
skill set or learn to embrace and use AI to
improve the service that they offer. So that's kind of

(24:41):
my take on AI. But I do think it's going
to have an impact on the real estate market. There's
going to be some new models, there's going to be
communications standards that change, and there are going to be
you know, there's just there's a wave of you know,
new tools rolling out so quickly that that AI is
going to change those things. So I talked in the
first segment about the impact of some of the Trump policies.

(25:04):
One of them I want to talk about next though,
is I think kind of a nothing burger. You know,
it riled a lot of people up and got a
lot of people excited, you know, but the reality is
that it's you know, going to have very negligible impact,
and it's the administration attempting to ban or reduce the

(25:26):
amount of homes being bought by hedge funds for rental purposes. Okay,
so there's a stigma out there that all these home
buyers are losing out to hedge funds and to institutions,
and you know, that's about twenty nineteen news. Okay, that
doesn't happen anymore. I don't get offers on my listings
from hedge funds. They're not out there buying homes turning

(25:48):
them into rents. Okay, the math doesn't math. It doesn't work. Okay,
the institutions can't buy real estate in our markets with
taxes and insurance where they are make money. It just
doesn't make sense. They're not doing it. So are there
parts of the country where maybe it has a little
bit of impact, Maybe maybe in Arizona or Nevada areas
where there isn't flood insurance, or areas where insurance isn't

(26:11):
expensive because there aren't as many you know, impacts on
you know, potential impacts on property damage. Maybe, But the
reality is for our market, this premise that home buyers
are losing out to these huge institutional investors just doesn't
It just doesn't exist. It's a nothing breaker now. Did
it a few years ago? Absolutely it did. Are there institutions, however,

(26:33):
that buy renovated and resell homes, Yes, there is a
lot of that. Okay, there's a lot of institutional money
behind that. That's not what Trump's EO is going after.
And that's not what Congress has Senate are going after.
They're going after the landlording. They're going after the guys
that are buying and hoarding inventory and renting them out
because the reality is those homes that need work, that
get bought, renovated, and resold, the regular consumer can't buy

(26:57):
those anyway because they don't have the money, the money
to make the repairs, and they can't lump a lot
of the repairs in. There's there's always going to be
an audience for investors, even institutional investors, to buy and
renovate and resell. Okay, that's not the attack. That's that's
not the place where they're attacking, because the reality is
is homes and and look, I buy a lot of
them myself. I bought one last week. I've got one

(27:19):
going on the market this week. You know, I'm always
buying homes that need work. If you're a homeowner and
you you know you have a home that needs work
and you just want out and you don't want to
deal with one of the large institutional funds, we help
with that. You can go to dunkin Duo dot com.
You can get a quick cash offer. We're much more
flexible than the funds. You know, it's a we're a
local institution. We're using local money, putting money back in

(27:41):
our local economy, hiring local contractors for repairs, improving communities.
You can do that at dunkin duo dot com. You
can get a free cash or an instant cash value.
Obviously you know we'll we'll, we don't charge you for
the offer. But you can do that at dunkin duo
dot com. So, but what I'm saying, though, is that
you have these institutional and veesters that still will buy, renovate,

(28:02):
and resell because and until or unless the administration does
something to allow, you know, to make it easier for
somebody to include renovations in their mortgage. The majority of
people don't have the cash out of pocket to spend
to make those repairs. Now, are there loan products out
there that will allow them to do some things, Yes,

(28:22):
at a higher rate, at more hoops to jump through,
at a higher cost because they can't control it. So,
of course, there are some things that will allow consumer
to buy a home that needs work and include the
renovation in the mortgage, but they're they're relatively limited, they're
more expensive and It's why there's always going to be
an audience for people to buy and flip real estate,
including large institutional investors, because they're not really competing with

(28:46):
consumers at that point. The consumers that can buy that
that's not the consumer President Trump is really targeting, and
the majority of those consumers can't buy that product. So anyway,
so talking about the landlording and it's simp just math
with taxes and insurance where they are in our state. Presently,
we've got some relief coming hopefully on property taxes. We

(29:07):
got maybe a little bit of relief, Governor Desanta says
on insurance. But with the taxes and insurance where they are,
those institutional landlords can't buy and rent out properties without
losing their tail. Okay, they're going to they lose money,
so they don't touch our market. So you know, I
saw someone that long ago like celebrating, Yeah, you know
the you know, the Blackstones and the hedge funds, and

(29:30):
they can't buy it. We're gonna rule the out of
buy at homes. The man have a bus since nineteen
it's been six years. Like they're not buying anything. So
I don't know what these people are paying attention to.
But I look at the real estate market, the data
and the stats every single day, and the institutions that
are buying the rent just don't really exist in our market.
The only place they really exist would be buying apartment
buildings or buying and renovating you know, duplexes, and there's

(29:55):
some of that very little bit. So that's one part
of the of the information that's come out from the administration.
It's pretty much a nothing burger for our market. Now
does that mean it will stay all we stay that way?
Maybe not. I mean they pass this and maybe three
years from now, if we get text insurance relief and
we don't see storms and rents rise and we get
more people move in here, then maybe it's a benefit

(30:16):
to have locked that in. But right now it's it's
pretty much, you know, non impactful. When we aren't on air,
make sure to follow us on all of our socials
at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok, Facebook, always
putting out relevant real estate information about what's going on
in the marketplace, putting out videos, putting out properties that
we have listed, putting off even off market opportunities where

(30:39):
we have a home that we know about. You know,
I had a client this week that you know that
called and said, hey, I've got a you know, a
waterfront lot. No one knows about it. I don't really
want it on the market. This is someone you know,
relatively well known, who do you have that can buy it?
And a couple of phone calls later and I've got
a builder ready to buy it. So those are the

(31:00):
things that we can do. We can make connections, we
can make quick sales happen at a very fair and
reasonable price. In that situation, it was just a customer
that didn't want to deal with the hassle. And so
there's a lot of discussion being had right now about
the off market and pre listing showings. You've seen huge
real estate broke er just sue the portals like Zillo.

(31:22):
You've seen alliances between real estate brokerages to try and
change our industry and allow the consumer to have choice
because a lot of the mls is and Zillo are
putting restrictions in place about how we're able to market
homes without putting them on the NMLS. So I think
again that's one of the things that I expect to
see massive change in the real estate and industry. Over
the next years, I think we're going to see a

(31:43):
movement of customers. They're going to want more of a
concierge service, especially in the luxury market where maybe they
don't want their house on the market with everybody. They
want to tell a few realtors and say, bring me
a buyer. I'll bring you a commission. They don't want
to go through the hoops of having their home shown
or a sign in the yard. People learning that they're moving.
You know, people naturally, you know maybe you know, especially

(32:04):
in that in those higher price ranges, want that privacy.
So I think this litigation that's happening in real estate
is going to play out in the favor of consumers
that want choice. I'm a very pro real estate, pro,
home value, pro home seller, but I also think that
our industry has this egotistical belief that it knows better

(32:26):
than the consumer. Look that we don't have a we
don't we can't gate keep the information anymore. For the
longest time, the real estate and industry was able to
gate keep the data, the MLS, the information it was ours.
Right now everybody has it. Now AI has it, Like
we can't gate keep the data and information anymore. What
we can do is provide a better service and adapt
to provide the service our client wants. An industry that

(32:48):
attempts to tell the consumer that it's smarter than the consumer,
and an age where technology is catching up to become
smarter than humans is is an industry that just needs reform.
So I think we're going to see some massive changes
where there's going to be a lot more options for
consumers to have choice about how their home is marketed
versus the standard it's got to go in MLS in

(33:09):
a certain period of time. I think that's just such
an old school thing that is going to get, you
know what, beat out of it in court when enough
consumers don't want that and resist it, and enough agency
the benefit for the consumer and look sometimes, of course
the argument is always well, massive exposure means more money
to the home seller, You've lost the locker room. If

(33:29):
you think that's all home sellers care about. They care
about convenience just as much, if not more than net
profit and money in their pocket or else. Why would
so many home sellers sell to you know, the institutional investors,
or sell their home to me, or sell their home
to somebody that's going to make a profit on it.
The consumer isn't about net profit, okay. The consumer's about choice.

(33:50):
The less that you stop attempting to tell the consumer
what's right for them, the better our industry will perform.
And I think we're going to see some massive change coming.
So if you're a real estate agent thinking about change
a change, thinking about whether you want to stay where
you're at, you want to grow, or you're someone that's
thinking about getting into the real estate business, I'm talking
to you, Hank Ty. I'll catch you on the other

(34:10):
side to share some more information about what we're doing
in our company to help real estate agents grow.

Speaker 1 (34:14):
Back to the Duncan Duo radio show hosted by Andrew Duncan,
official real estate agents of the Tampa Bay Lightning and
the team that guarantees your home sales with the especially
at the Duncan Duo dot com. Right now, here's Andrew Duncan.

Speaker 2 (34:31):
So, if you're a real estate agent and you're frustrated,
maybe you aren't getting the results that you want, you're
thinking about a change. You know what you were promised
by the broker team you're with has misled you. You
know your senior business fall off. It's no secret to
the real estate market. Market is massively changed. People that
were successful year and two ago aren't right now. January

(34:53):
soled low home sales. I increased my advertising expense in
January and all of last year. I'm afraid because of
the twenty year track record I have, unfortunately the piggy
bank money I've built over my career to be able
to reinvest in the business when when a lot of
people are cutting their expense, they're cutting their marketing expense,
they're cutting down. So we're in growth mode. I'd love
the opportunity to have our team cat from my office

(35:16):
talk to you if you're thinking about a change, if
you want an environment that can pro that can you know,
is very pro growth, that can help you improve your career.
They can help you sell more homes, but most importantly
help you make more money. So a lot of real
estate agents get focused on the wrong things. I was
talking to an agent last week at an event and

(35:37):
they said, you know, I just you know, I looked
at joining teams, I looked at joining your team, and
I just can't justify the split. Okay. And meanwhile, in
our split at our business, we're doing all the legion,
providing office space, providing all the tech. We're providing all
the coaching, We're providing transaction coordination on all of our transactions.

(35:59):
We do the marketing on the listings, we do the photos,
we do with the syndication, We pay for the syndication,
all the websites. We're incurring all these expenses so that
our agents can focus on selling, and our agents outperforming
the market massively. So I said to the agent, you
know what's more important to you the money that you
bring home to your family or the split that you
get to tell your friends that you're on a happy hour.

(36:19):
And I looked them up and they did four sales
last year. They would have done quadrupled that on my
team because they're a hard worker. So, if you're out
there and you're not making the income that you want
and you're focused on the split, you're focused on the
wrong thing. Okay, You're focused on you know, you're not
focused on the money you bring home to your family.
You're focused on ego. Okay. And so if you're a
real estate agent and you're not making those sales and
you're not hitting the numbers you want to make, you

(36:40):
might want to blow it up and start over and
think about a new strategy of how you look at business,
and I break it. I broke it down for my
team this week. I do a wealth building Wednesday class
where I teach my agents things that I do in
my life to make money or create wealth. And I
was talking about investing in you know, private equity and
pre IPO companies this week, and in the pre ip

(37:00):
in private equity space, you're going to pay a higher
fee than if you go online and buy a stock
on a maror trade. The reason you're going to pay
a higher fee is because there's you know you're going
to make more money. The person's bringing you that opportunity
knows how hard it is to get into that company,
so they charge a carried interest or a fee to
be able to get you access to it. Okay, some

(37:20):
of these opportunities, I've got investments I've made, including one
with the hat I wearing today that have ten XT
in a few year period. You're not getting that on
a stock unless you get lucky. So the point I'm
making is that you get what you pay for. A
lot of real estate agents go to the discount company
or the company that's offering them the lowest split, and
then they don't make any money, and then they want

(37:41):
to know why their broker isn't calling them back because
their broker doesn't make any money either. Because they charge
you nothing. They're not able to give you service, they're
not able to have staff. There's no margin there. If
you're not operating within a broker it's profitable, it's able
to provide you services. You're going to fail and succeed
because no one's going to teach you how to get better.
They're just focused on headcount. So if you want somebody
to coach you to build wealth, to become a better agent,

(38:03):
to sell more real estate, to generate leads, for you
to take the transaction stuff off your plate, we're for you.
If you didn't hit the income that you wanted and
you're attached to the ego only and you want your
name on everything, but you did three sales last year
and you're not willing to think about things from a
new perspective to grow, you're probably not the right option
for me. There are agents out there that, with our help,

(38:25):
would make massively more money because they have the work ethic,
But either they don't manage the transaction well, or they
don't know how to create the business, or they're not coachable. Okay,
if you're not coachable, we're also not for you. We
know that we can coach agents to make massive production.
I've had agents that have worked for me for years
and gone out and built million dollar teams on their

(38:46):
own because of what they learned in the environment that
they get for my team. So you're not going to
be able to recreate that on your own very likely.
It's why so many people start on teams. So if
you're not hitting the sales that you want, you want
to double or triple your income, you want to a
productive and productive, coachable environment, hit us up. You can
hit me up on any of our social channels at

(39:06):
the Dunkan Duo you can send us a DM. You
can also go to Join the Duo dot com. At
Join the Duo, you can apply directly for any of
our open positions. You can also readishif for a career
night or hit us up for a one on one consultation. Again,
you can do that at Joindduo dot com And again,
who I'm really talking to If you want to double
your income? Okay, if you want to look at real
to stay from a new perspective. If you want to

(39:28):
be coached by somebody, it's created massive wealth. If you
want to learn from that person, we're the environment for you.
If you think you're going to figure it all out
on your own after you did three or four sales,
or maybe you've been doing that same number for years,
the definition of insanity is doing the same thing over
and over again and expecting a different result. If you're
not hitting the income that you're wanting, but you're not

(39:48):
changing your environment, You're not changing your approach, you're not
changing your marketing, you're not being coachable, You're probably not
going to win. Okay, If you want to win, you've
got to get around the people that are winning, get
around the people that can help you grow, get around
the peaceeople that can help you generate the leads. And
that's what we offer. So we are in growth mode.
We are looking to add some agents to our team.
I'm not looking to add thirty agents to my team though.

(40:08):
I'm looking to add a few because i want to
make sure that we can give them the proper approach
and focus. Because I'm not trying to be a mill
there are teams out there wanting to have hundreds and
hundreds of agents. I want to go deeper with my people,
so I'm not looking for hundreds and hundreds of agents.
I'm looking for a handful of productive people that want
to be coached and led and that want to grow
their wealth and learn alongside us. We actually just rolled

(40:30):
out something this year too where we allow our agents
to invest in the flips that we do in addition
to them selling real estate. They get to learn that
side of the business. They get to invest in an
investor that has made millions of dollars investing in flips,
and it doesn't lose very often. The times we lose
are from hurricanes. That's about it. So if you're interested
in that again, jointdoo dot com, hit us up on
any of our social channels. I'd love to talk to

(40:51):
you about a real estate career and we appreciate you
tuning in and hope you have an awesome rest of
your weekend. Tampa Bay