Duncan Duo 3-09-25

Episode Transcript

Speaker 1 (00:00):
Hay Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Real Estate Show to talk
about the Tampa Bay real estate market. Like we are
every Sunday at ten am here ONFLWFLA News. Lots of
stuff happened in the real estate market. It feels like
it's starting to pick up, and I'm going to keep
you up to date on everything that's going on today.
When we aren't on air, mix sure and follow us

(00:21):
on all of our show socials. We are at the
Duncan Duo and save the date April twelfth. Our tickets
go available tomorrow on Monday for our client appreciation event.
And keep in mind this is a free event. You
do need a ticket because we have to go through
the steps in the process with Lightning to get you
out on the Emmily Arena Ice. But we've got some

(00:42):
cool surprises that we haven't had the past couple of
events that we've done. I hope to have about a
thousand people out that day. But it's a great family
friendly event where kids can skige on the Emmily and
Arena ice. Here your family can. We'll have some free
swag and jerseys and t shirt giveaways. And again that
is on April twelfth, from twelve to three at Amili Arena.

(01:05):
You can go to our social media, send us a DM,
post a comment, we'll send you the link. The tickets
will be available again starting Monday. It's duncanduo Party dot
com for you to reserve and you are invited again,
that's duncanduoparty dot com. It's our appreciation event. We invite

(01:25):
all of our listeners, our clients, our past clients, the
community as well as real estate agents out to our
event that day, so it'll have We'll have some great food,
a good fun lunch as well as some skating on
the Amiirean ice. In just our way, I show an
appreciation to everyone for blessing blessing our real estate business.
So again Duncan Duo Party dot com. And you can't

(01:47):
get the tickets today on Sunday, but you will be
able to tomorrow. So you can either save the link.
I think you might be able to bookmarket or request
the ticket link to be sent to you Monday. But
again it's going to be Duncan Duo Party dot com again,
Duncan Duo Party dot com. So I talked this week
on you know, I always put out videos just kind

(02:09):
of going through real estate, talking to my team about
things that are going on, and I sometimes post them
on my socials. So if you're not following me on
my socials, I'm the Andrew Duncan on Instagram. I'm and
Andrew Duncan on Facebook with the check mark, so I'm
not hard to find there. But I posted a video
this week that, you know, they got some funny laughs

(02:32):
because I was basically talking about what it's like to
work with bad real estate agents. And look, every industry
has them. I think there's enough education out there, enough
opportunity for every real estate agent that wants to work
to be successful. But just like any other industry, there's
some that slipped through the cracks and there's some bad ones.

(02:53):
And so I was talking to my team this week,
and I realize that sometimes customers get stuck with a
bad one, or customers look for the cheapest. They look
for the cheapest real estate agent because they commoditize them,
and the downside of that is you're selling the most
expensive thing that you're ever going to sell, and you're
hiring the person that's in charge of the marketing and

(03:14):
in charge of negotiating with the other party. And what
I can tell you, as I've built my wealth through
the years, is that the best at what they do
are not the cheapest. So if you're looking for the
cheapest real estate agent, my company probably isn't the right
one for you. If you're looking for the best one,
we are. And I want to explain the difference. The
barrier to entry to become a real estate agent is

(03:36):
not very hard. I'm sure you've talked to enough real
estate agents in your life to know that there are
a lot of people that have gotten their real estate
license that probably don't succeed, or don't last, or don't
do what's needed to do. It's why the failure rate
is so high. So that being said, we regularly have
clients say, well, this person's willing to do it for less,

(03:58):
and I would ask you if that's so. If that
is you, if you think, oh, well, all you guys
do is this, What you're not seeing is what goes
on behind the scenes. It's why someone that runs a
hedge fund and gets paid ten percent is better than
the order taker at Merrill Lynch that gets paid a
half a point to manage your money. The reality is
the best in the business or not the cheapest, and

(04:20):
if you're looking for the cheapest, you're going to lose.
There are people that lose money. Some of the worst
phone calls I get are someone that hired a bad agent,
hired the wrong agent, spent six months, and is now desperate,
either in financial trouble or desperate to get to where
they wanted to go six months ago because they hired
a bad agent that either lied to them about the

(04:43):
price and wasn't honest with them, or didn't market it properly.
Whatever it is, cheap work ain't good, and good work
ain't cheap. When you look to cut corners on what
I believe is an investment, you end up losing equity
and time on the market. It takes long longer to
sell and you get a lower price because they're not
investing in marketing, they're not investing in personal improvement, they're

(05:06):
not a great negotiator, they don't have the experience, they're
just an order taker. In the last couple of years,
with the phenomenon in real estate, you know, prior to
the last couple probably a little bit before that, where
it was really easy for anyone to be successful, and
it is not that anymore so if you're looking for
the cheap agent that would have worked a couple of
years ago today, that is a failing strategy that it
causes so many sellers homes to sit on the market

(05:28):
and not sell and them to lose money and then
to chase the market. So look around your house. If
you're thinking about hiring a real estate ask yourself, do
you drive the cheapest car? Brand you know? Do you
you know? And if you don't, maybe you shouldn't hire
the cheapest real estate agent. Do you have the cheapest
choose or do you pay money? Do you pay a
premium for those? Do you have the cheapest food or

(05:50):
do you pay a premium for those? Did you hire
the cheapest pool company or did you hire the best?
When you go in for surgery, do you look for
the cheap doctor or do you look for the best.
When you go to hire a lawyer, do you look
for the cheap lawyer or do you look for the best?
And many times throughout my life I know that when
I hired someone that wasn't the cheapest, it massively paid

(06:12):
off in the end. When you hire the cheapest. You
get what you pay for, and there are unfortunately a
lot of people in the real estate business that are
consumers that look for the cheapest agent, thinking that we
all do the same thing. That you know, that we're
simply order takers punching something into a system. But it's
the personal improvement, it's the negotiation, it's the marketing savvy,

(06:33):
it's the it's the number of transactions. Another pet peeve
I have is when real estate agents say, I've been
doing this for twenty years. Look, I've been doing it
for twenty years too. But the point is when it's
not the amount of time you've been doing it, it's
the amount of transactions. It would be like saying, you know,
I was a great NBA player for twenty years, but

(06:53):
I never started. I never made an All Star game.
I never you know, I never scored more than three
three points in a game. I sat the bench for
twenty years. Are you getting a benchwarmer that's been warming
the bench for twenty years, or are you getting a professional?
Are you getting one of the best time on the
time in the industry. Is not an indicator of success
or an ability to succeed for you, it's the number

(07:14):
of transactions that someone has done, the complications, or maybe
even in some instances, the value of said transactions. Because
transactions get more complex, the more valuable they that they are.
So use those things when you're determining who to hire
as a real estate agent. Way too many consumers get
it wrong. We deal with all the time in customers
calls and say, oh, I'm looking for the cheap, cheap, cheap, cheap, cheap,

(07:36):
and then they get it, and then their house doesn't sell,
and then it sits in six, nine, ten, twelve, fourteen months,
there was smacking their head off the wall wanting to
know why their home hasn't sold. What's wrong with my house?
Why did my house sell? Because you picked the wrong person.
You pick the wrong person to represent the sale of
your most expensive asset, and now you went the cheapest.
When you'll pay a premium for shoes or a car,

(07:57):
food or a hat or whatever brand it is that
you support, you'll pay a premium to get better seats
of the sports game. You know, you'll pay for premium gas.
But you're selling the most expensive thing that you've owned,
and you want to skimp. And it's a recipe for disaster.
That again, so often we're the second or the third

(08:20):
agent because people don't get that, and then they bleed
through money, especially in a market where prices are softening,
because not only are they wasting a mortgage payment, but
now by not cutting getting to the punch and hiring
a great agent, that hire the bad agent, and the
market prices are softening and going down during that timeframe
in some neighborhoods. So they're in addition to not just

(08:40):
getting to where they want to be and getting their
you know, getting it sold, so don't have the payment anymore,
and they can get to where they want, but the
value of the asset is dropping now. So again, look
for the best, don't look for the cheapest. So again
your listener to the Duck and do a real estate show.
We aren't on air. Hit us up at the Duncan Duo.

(09:01):
If you're thinking about selling your home and you want
to cash offer, Look, maybe you don't want to pay commission,
maybe you just want quick, clean cash. Duncan Duo dot
com is the place to go. You'll get an instant
cash offer, you can get a home value estimate, you
can learn about what is going on in your neighborhood
and so much more at duncanduo dot com. Again, that's

(09:21):
Duncan Duo dot com. I actually made a Facebook post
this week joking with real estate agents and asking them, Hey,
what's the worst thing a real estate agent can say
at the beginning of a transaction, lets you know it's
going to be a bad transaction? And mine was, I've
been doing this for so many years. I've been doing
I've been an agent for this long, I've been a
broker for this long, I've been a team leader for

(09:41):
this long. I've been doing this for so long. Because
when you hear that at the beginning of the transaction,
in my experience, it's usually like not a great sign.
First off, we can all look it up. You don't
need to tell anyone your resume because it can You know,
people are going to google you. Everyone googles everyone, so
of course they're going to look up your performance and
your track record. Are are gonna know that if they're
a prepared real estate agent or clients aren't going to

(10:03):
know that before they even talk to you. But I
saw some other ones it was things like, you know,
what's the you know, can you come and get me?
Can you let me into the property because I don't
have super access, was one I saw. I saw another
one that talked about, you know, what's the you know,

(10:24):
what's the story? Why are the sellers selling? Just all
kinds of funny reasons why real estate agents know I'm
you know. Another one I saw was what's your facts number?
You know, like those are signs that are real estate
transaction is not gonna go as well as you'd like.
But I encourage you to do your due diligence. If
you're a client, look up the people in the company.

(10:46):
Look up the reviews, look up the track record, look
up the experience. If they're really really good, they're also
not going to be perfect because they're managing a lot
of business, just like any other really really good business,
any really really good restaurant. If you see someone that's
got five stars perfect reviews and they've got four of them,
that they're really not that busy. They're not that good,

(11:09):
you know, like go to a restaurant that's only got
four reviews. They don't have a whole lot of clients.
They must not be that great. It looks like maybe
their friends or family and their buddies left the reviews.
Any really successful good business is going to have a
bad one here and there because they're serving so many clients,
and they're serving so many at a high level that
they're massively serving way more than the one person who

(11:30):
can only handle a couple of transactions or isn't good
enough to generate more than that. So just keep that
in mind when we're reviewing reviews. Just like a restaurant.
If I see a restaurant that's got a four to five,
a four to seven, a four eight, that's that's probably
a really good sign. If I see a restaurant that's
got five stars and no bad reviews, I'm super suss
I'm suspicious. Who are they paying to make the fake reviews?

(11:52):
That kind of stuff kicks in, So use that as
part of your due diligence. Hopefully it helps you find
the right real estate team or agent to get your
home soil. What I'm going to talk about next is
the worst due diligence you can miss it you can
make as a home buyer, the worst due diligence mistake
that will cause you the most grief, the most hassles,

(12:15):
and wreak the most havoc in your life. If you
don't do this, and I'm going to tell you about
it after a quick break here on The Duncan Duo
Real Estate Show. So back here on the Duncan Duo
Real Estate Show Andrew Duncan with the Duncan Duo at LPT.
If you're a real estate agent, thinking about a change,
thinking about joining LPT, thinking about joining my team, hit
up Jointhduo dot com. We have a free career night

(12:37):
that we do on the regular. We have the ability
for you to schedule appointments with our team to talk
about the opportunity of working with us and so much
more again at Join the Duo dot com. So if
you're thinking about getting into the business, if you're a
current agent, and if you are thinking about getting into business,
you're gonna hear people say, oh no, you don't want
to get into real estate. There's too many people, it's

(12:58):
a bad market. I heard the same thing when I
got into the business, and I'm pretty happy with where
my life has turned out twenty years later. So don't
let the naysayers and the people that never wanted to
take risk and never wanted to go out and do
something for themselves or work for themselves get into your ear.
I almost let that happen. I had people say, oh,
go get a job, go work for twenty years, go

(13:18):
do this, go do that, and I didn't listen, and
I'm really glad I didn't. So, you know, it kind
of goes back to something I've said before, but it's,
you know, if people are giving you advice about risk
that have never taken any or if people are giving
you advice about success or wealth and they don't have any,
you probably don't want to listen to them. So anyway,
the worst due diligence mistake a home buyer can make,

(13:41):
it's not the home inspection. It's not the home appraisal.
Those are common ones that people think that it is
every time. It's it's you know, it's not making sure
about the insurance. It's making sure the neighbor isn't a jerk.
And I said something different on social media because I
can say words on social media, I can't sit here
on the radio. But the worst mistake that we see

(14:04):
clients make is getting stuck next to a neighbor that
they could have determined was a jerk. So I want
to give you some tips about how to find out
whether the neighbor that you might buy a home next
is a jerk, so that you can use that to
help yourself pick the right house in the right neighborhood
for you. So the first thing to look at bumper
stickers on cars. Okay, a lot of times people are

(14:26):
super passionate about something are going to put bumper stickers
on the cars. To me, you know, it can send
you a signal about where their belief system is and
whether that aligns with you or doesn't align with you.
And look, there's nothing wrong with living next door to
somebody that you know you may not agree with on things.
It's a whole other thing though, that if they're that

(14:47):
crazy about whatever thing it is that they believe in
and you're the exact opposite, there could be some tension.
There could be I think it's not hard to go
onto Facebook and learn today that people are jerks to
each other when they don't agree on things, or they
try and you know, tear people down and make them
look stupid or call them names because they don't agree
with them on something. So you can get a semblance

(15:08):
of that from from some bumper stickers. Also, any any
kind of outside flags, license plates, you know flags that
are that are flying at the house. Any of that
can sometimes send you some messages about whether or not
they're a jerk. Another thing to do is talk to neighbors.

(15:29):
You know, canvas to the neighborhood. Ask You don't necessarily
have to ask the neighbor right next door, but just
walk through the neighborhood and say, hey, what do you
know about the people that live at this address or
that address I'm thinking about buying in the neighborhood. Get
their take on what it's like. Maybe they tell you
some goods about the neighbor. And there is nothing worse
than a bad neighbor. Guys, you can fix a bad roof,
you can fix a bad ac you can you can

(15:52):
deal with insurance stuff you can you can pay to
resolve those things you can't pay to resolve or solve.
Live in next door to a tyrant neighbor, Okay. The
last thing that I'll tell you about the due diligence
on the neighborfront. Drive through the neighborhood. Okay, do they
have a bunch of cars parked in the yard at
eleven o'clock on a Saturday. Go back out to the neighborhood.

(16:14):
First off, drive to the neighborhood during non rush or
during rush hour times, because you'll know what a commute's
really like. But go there during times that aren't going
to look like sunshine and rainbows, like a ten o'clock
random Thursday, when everyone's at work. Go in an evening.
Go at night. Go at eleven o'clock. Are there a
bunch of cars parked in the driveway? Is the music
playing loud? Those are things that you need to do

(16:36):
because I'm telling you buyers don't do them, and then
they call us and they spend a whole bunch of
money when all they needed to do is to drive
out to the neighborhood on a Friday or Saturday night,
or go talk to some neighbors. I know, I know
a lot of people just don't want to talk to
people today. You just want to text them. But go
talk to some neighbors. The last part is for those
people that are socially uncomfortable, use social media. You Google,

(17:02):
it's all public record who owns properties. Okay, of course
it could be a rental and in that case you
can probably still do database inquories to figure out who
it is, and then try and look them up on
social media. It's not hard today to figure out that
about half the population you can follow on social media
and determine, yes, this person's a jerk and I might

(17:22):
not want to live next door to them. Okay, So
look up people on social media. Find their ex profile,
find their Facebook, find their Instagram. Look them up and
see how they're engaging with people. See what kind of
comments they're making, see what kind of posts they're making.
If they're, you know, so completely distinctly different than you,
or they seem like a jerk, maybe that isn't the

(17:44):
right house for you, Okay, because I'm telling you that
is a thing that you can't resolve every one of
these other things. You know, a low appraisal, money can
solve it. An inspection issue, you can get it repaired.
Somebody you can't solve. I mean, you can't legally solve
the next door neighbor being a jerk. So hopefully that's helpful.

(18:05):
And again, hit us up at dunkin duo dot com
if you have a bad neighbor, if you're living next
door to the tyrant neighbor and you're tired of living
there and you've done everything and you can't deal with
the person anymore. Just go to Duncan Duo dot com.
We can get you a quick cash off, or we
can get your home sold, we can get it on
the market. We can get you out so that you
can get to where you want to be, because that

(18:25):
is priceless. You can't put a price on the piece
that you have at home and the disruption that you
get when you're next to a neighbor that you just
can't mesh with. So hit up Duncan Duo dot com
or be back. We're going to continue our conversation after
a quick break here on WFLA News. So we're back
here on the Duncan Duo Show talking about the Tampa
Bay real estate market interst rates. They have been the

(18:49):
topic of discussion for the last couple of years in
real estate. Ever since rates went from the threes to
the sixes, sevens, and eights, the market has has cooled
and has impacted affordability. It has shrunk the buyer pool,
it's made it more challenging. We're finally starting to see

(19:12):
some relief and things heading in the right direction from
a real estate perspective. So when you look at what's
happening with interest rates. The Fed is not cut rates.
Interest rates are simply softening because of economic situations and
other things going on in politics. We are now seeing

(19:37):
government mortgages, you know, which are basically like fha va
you know, those types of products in the high fives. Okay,
as of me, you know, recording the showing mortgage rates
change every single day, but we're seeing the high fives again.
A lot of people, you know, don't understand this. But
every half point drop in interest rates, which is what

(19:57):
we've seen in the last several months, we were a
few months back, we're in the mid sixes. Every half
point drop in mortgage rates creates millions of new home
buyers because it makes it affordable for them to buy
and qualify, or it makes it affordable for them to
buy and qualify the home that they want. Some consumers
will say, look, I'm not gonna move unless I can
get this, and at these interest rates, I can't get this. Well,

(20:20):
as the rates go down, you open that up to
more and more people. So it is a really positive
sign for the real estate market to see interest rates
trending in that direction. Now, of course, we have no
idea what the fed's gonna do. There's all kinds of
different economic opinions about what's happening with inflation, whether it's
headed up, whether it's headed down, and you know, but

(20:41):
right now they're the lowest they've been in a while.
If you're someone that got quoted, you know, a year
ago or a while ago, and you saw sixes or
near seven, you have a really good shot at getting
into the fives potentially low sixes, depending on your score,
income and the type of loan and the down payment.
But rates have definitely come down, So it is an
eye opening moment for people that have been sitting on

(21:03):
the sidelines. There are customers out there that bought and
have interest rates in the you know, four's baby, and
they're like, oh man, I'm not going to jump up
to the sixes or the sevens. When you start to
put a five in front of that interest rate, some
of those people that have been sitting and saying they're
not going to sell their house or now to the
point where the interest rate differential is close enough to
where they don't feel like they're getting hosed as bad.

(21:25):
They may still feel like they're getting hosed, just not
as bad as from four to seven or eight, which
is what we saw, you know, a year ago. So
if you're someone that looked, look again, talk to a
mortgage lender, get back out, run some numbers, you know,
and see what's happened. Because in addition to mortgage rates
sliding down a little bit, prices have softened. In talking

(21:48):
to my team this week, you know, we're seeing sellers
being willing to accept prices on homes. You know there
there may be more aggressive than they would have six
months or a year ago. So buyers, now is the
time get off the fence. You've got rates that have
come down to their lowest point in a while, and
the kind of the pendulum is swung in your favor

(22:11):
to get a better deal on the house. So you
can get a better deal on the house and the
rate right now. But here's what happens. Those things kind
of work in you know, the pendulum kind of swings
and pushes those things to where it's rare that they
line up in the same place. As interest rates drop,
typically typically home values and prices go up because it

(22:33):
creates extra demand, and then you start to see bidding wars.
If we see interest rates in the fours again, Yeah,
it's going to be rampant bidding wars. Homes are going
to be going way above asking price. So if interest
rates are expected to trend downward and a lot of
people are predicting that, you shouldn't wait until they're there
to buy because by then prices have already started a rise.
You're not going to have a negotiation position, and you're

(22:55):
going to experience the same plight that so many consumers
felt a couple of years go when they're making seventeen
offers and they can't get anything accepted and they're getting outbid,
and everything's going way above asking, a way above market.
So now is the time for a smart person to
buy and then refinance later when rates drop it you

(23:16):
get locked in at today's price before prices head back
in another direction. Prices have definitely softened, and again they
may stay soft, they may soften more. However, historically, as
rates drop, prices rise. So right now we're in a
point where we've seen the lowest or the lowest interstrate
we've seen in a while, and prices have been kind

(23:39):
of on a slow not a steady, not a lot,
but a slow, you know, small percentage point drop in value.
So you've got this pendulum where it's kind of at
this trough and this peak opportunity for timing that if
you're a buyer and you buy, you're going to get
a better price than you will if you wait a
year for rates to come down, and you can always
you know, you can always so you know, reduced to

(24:01):
rate later. And there are a lot of lenders too
that are allowing programs where customers can get a free
interest rate reduction or free refinance, no cost refinance. All
those types of things are things that are happening to
encourage people to not wait, you know, to buy. So
so those are things that are working right now. So

(24:21):
again you're listening to The Duncan Duo Real Estate Show
when we aren't on air at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok, Facebook,
and so much more. Again at the Duncan Duo. So
talked about this at the beginning of this segment about
our real estate team hiring, and I'm excited because you know,

(24:44):
we're in growth mode. So so we're hiring agents. The
brokerage I'm with, LTT Realty is growing dramatically. My team
is in growth mode. We're spending more on advertising this year,
massively more. We've brought on some really good talent, but
I'm still looking for some a players. I'm still looking
for some people that want to do the work. So
I want to kind of give an idea. I want

(25:05):
to give you guys an understanding of what it is
it works on my real estate team that we're seeking.
First and foremost, we want somebody that gets along with
other people, that serves our clients at the highest level,
and that matches our culture and our core values, gets
along with our team members. The second thing is is
we want somebody that's wanting to do the work and
the grind. You know, I'm someone that built my business

(25:28):
from scratch. I can recognize talent when I see it,
and a lot of the talent lines in the work ethic.
Do they want to do the work? Do they want
to show up every day? Do they want to make
the effort? Do they want to do the open houses?
Do they want to go on the appointments? Do they
want to do the training, Do they want to do
the role play? Do they want to do those things?
And if they want to do those things, the opportunity

(25:50):
for massive growth is there and super high production. Our
agents massively outperform the average in the marketplace because our
agents are coached well, they have lead and opportunities, they
have great structure. But we ensure that we bring on
people that want to do the work. There are a
lot of real estate companies that people will come to

(26:11):
and say, I want to hang my license. Well, if
you want to. If you're somebody that goes around and
says I want to hang my license, you might as
well hang up your real estate career. Anyone that wants
to hang their license somewhere, just hang it up, because
that's not what being a successful real estate agent is
about anymore. The goal is to be a partner somewhere,
to be able to plug in, to be able to
get leads and opportunities, to be able to to be

(26:33):
coached and led by someone who has done more than
you in the space to help you produce and to
help you grow. So, if all you want is to
hang your license, that's not the opportunity that exists at
my company. If you want to partner, you want to
crush it, make multiples of six figures, you know, be
accountable and do the work that's us. And if that
is you go to join the Duo dot com again,

(26:55):
that is, join the Duo dot com and let us know.
You can set an uppointment that goes right onto our calendar.
You can come to our scheduled career night, you can
apply for any open positions. You can see some of
the video that we have that we put out helps
new agents get to another level. Again, you can do
all of that at Jointhduo dot com. So I want

(27:16):
to talk about AI for a few minutes before we
get to the last segment. If you have not looked
at AI or or used it at all, it is
pretty groundbreaking and remarkable what is going to happen in
so many industries for the next few years. It's why
I'm excited. We're going through some changes in my own
business right now to incorporate it more because so many

(27:38):
people are just absolutely blind to it and not paying
attention to what they need to do in order to
evolve their business or their life. It is like your
own personal assistant. It is amazing what AI is able
to do. Now. You know Grock for example, which is
my preferred There's GROC, There's Chat, GPT, there's others, but

(27:59):
GROC three for me. Was such a game changer that
that that now that I'm kind of in that ecosphere,
I don't know that I'll change the deep search and
the all of the things that are the voice talking
that you can do with grock, where you can have
a conversation where it can tell you a story. It is.
It is pretty amazing. But instead of going to Google,

(28:20):
start going to to AI and asking it questions, getting
to know it, getting used to it, because if you
don't get used to it, you're gonna get passed up.
There's going to be people that are going to involve
they are going to become experts at it. It's already
happening and it is going to massively change our industry.
We had one of our agents this week. We have
a photo editor that edits a lot of the photos,

(28:41):
the professional photos that we take for our clients, and
so this photo editor is out for a little bit
and the team said, well, hey, what are we going
to do? And and you know what's going to happen
if they don't come back, And you know, and realistically
it is a matter of time before all of that
is done. With AI, You're gonna be able to upload

(29:02):
a photo and say Hey, edit this for standards that
make it look great for real estate listening. And it's
going to edit it. It's going to brighten it, it's
going to kick out the shadows, its going to increase
the saturation. It's going to basically do photoshop in AI.
That is how fast it's moving. It's amazing to see
the evolution of it in the last year. So if

(29:24):
you're doing something, if you have an assistant, if you
own a business, I strongly encourage you don't wait until
your competitors pass you and incorporate AI. Find ways to
incorporate it in your life. Use it, learn from it,
ask it questions, use it to help you, use it
to find things, use it to get information, use it

(29:44):
to you know, determine whether something's accurate or not accurate.
But it really is the evolution of what's happening with society,
and whether you like it or not, it's happening. You know.
Sometimes it feels a little I robot slash, you know,
you know, terminator into the world type stuff. But the
reality is is we're heading in that direction, and it's

(30:06):
important for you to know how to use the tools
that are going to be the most important tools in
business in the coming years for me back, we're gonna
wrap up with our last segment. Make sure you're following
us again at the Duncan Duo social media, we'll talk.
We put out all kinds of real estate content. Everything
we're talking about on here we put on social media.
You can also get information about our upcoming client appreciation

(30:29):
event and again that is at Duncanduo Party dot com.
That's Duncan Duo Party dot com. Well back after a
quick break, so back here on the Duncan Duo Show,
talking about the Tampa Bay real estate market. I did
a builder summit not long ago and sat down with
some other real estate agents as well as talk to
a builder we're presently working with that I'm going to

(30:49):
have come on the show Heritage Homes. They do a
lot of entry levels single family home construction out in
some of the suburbs around Tampa Day. But I did
this panel recently and I found it kind of interesting
because you see that, you know, market shares for single
family home construction are growing. So to help you understand it,

(31:14):
the fourth quarter index from the Home Building Geography Index
single family home construction into the year with growth not
gross with growth as a shortage of existing single family
homes continues to increase for newly built homes, So you
saw sixteen percent increase in large metro core counties, twenty

(31:38):
four in large metro suburban, nine percent in large metro
outlying counties, twenty nine percent in small metro core counties.
Basically all the way across the board, you saw market
shares of single family homes increase. More and more people
are gravitating to single family homes, especially in a market
where we've been hit with hurricanes. They're built to a

(31:58):
higher construction standard, they're cheaper on insurance, and they tend
to be not as coastal, so they're out. They're out
in the suburbs. A lot of these communities are. And
I feel like we're in the middle of uh, you
know a and I'm hoping that we don't see more
storms this year, but just looking at the track record
from the last few years, it's like we're in a
cycle where these storms keep coming for Tampa Bay, and

(32:20):
that is going to push more and more people away
from our urban core and our coast and out to
the urbs because people aren't going to want to pay
the price to either elevate, elevate the home, or the
flood cost or the damages, or just the disruption in
life that we all experienced with the last two storms.
So you're seeing this migration and home builders are there
to pick it up. But people are saying like, well, hey,

(32:43):
you know, we continue to hear that there isn't enough
inventory and it continues to be a problem. And the
reality is this is a you know, a fifteen year
created problem that most people don't understand because during the
Great Recession, all of the major homebuilders massively produced to

(33:03):
the point where they probably overproduced homes, and then when
the Great Recession hit, they all got hammered. And because
of how bad they got hammered, that lingering hangover. Right,
we've all had something go bad that causes us to
change the way that we do things or change our
decision making. And builders still having gotten back to the

(33:26):
pace of new home creation that they were pre Great Recession,
we're still not delivering enough new home product to create
to make up for the fifteen years of underproducing it.
So you see these numbers rising and it's something that
will probably happen for a long time because the builders
massively changed their models. They took way less risk, they

(33:48):
built way less, they had way less inventory, and they
just slowed down nationally. Now, of course there's some builders
that bucked the trend and did it differently, but there
was a massive agent construction and manufacturing after the Great
Recession that we've still not gotten back to producing enough
homes to replace all the homes that didn't get produced,

(34:11):
and the years that the builders scaled back, took less
risk and said, hey, I don't want to create more
housing now. While now we've got a situation where they're
starting to ramp up, they're starting to catch up. We
will see inventory rise. We've seen inventory rise on resales
in Tampa. But I think a lot of that is

(34:32):
not necessarily this phenomenon, but more related to the impacts
from the storm that we had and the movement that
that coused. You had so many people moved during COVID
here hadn't been through a hurricane, and then we got
hit with two back to back ones and consumer sentiment change.
You had plenty of people that moved here from somewhere
else because it looked like sunshine and rainbows, and then

(34:52):
it felt like a war zone. So they bounced. So
the long time people that have been here a while,
they stayed. They may move out to the burb. They
love this area enough to look past a couple of storms.
But the people that were still in the honeymoon period
of move into Tampa Bay got throttled both with inconvenience, fear,
and cost, and those things caused people to move back

(35:16):
to where they came from, to move out to the burbs,
or move somewhere else. So again, the new construction industry
is a go to right now. There are a lot
of consumers looking at new homes for all of those reasons.
I think that's going to continue, but it will take
a long time before we get to a place to
where we say we have built enough new homes. It's
just they scaled back so much that we still haven't

(35:37):
caught up from all the underproducing of Holmes post Great
Recession for so many years before builders started to get
aggressive again. So again, you're listening to Dunkin do a
real estate show. Hit up Duncan Duo Party dot com
if you want to come to our event on the
twelfth at Emily Arena. Duncan Duo Party dot com Save
the date and then go to join the duo dot com.

(35:59):
If you're a real estate agent thinking about a change,
you're frustrated, you're not performing. You need a new vision,
you need a new leader, you need a new logo
or brand behind you. We would love to be that
for you, and again, you can do that at jointhduo
dot com. Again, that's jointhduo dot com. Thank you so
much for tuning in, and have an awesome rest of
your Sunday. Tampa Bay