Duncan Duo 4-13-25

Episode Transcript

Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week
here on the Duncan Duo Show, like we are every Sunday,
talking about the Tampa Bay real estate market and everything
going on in Tampa Bay. I want to thank everyone
for coming out to my appreciation event on Saturday. We
had a great time, incredible event. I think we had

(00:22):
around seven hundred and fifty people that ask for tickets
and I'm not sure the final count was pretty busy,
but I just want to thank everybody for coming out
and supporting us at that event and something we do
every year. Emily Arena is a great partner of ours
with the Lightning and you know, again, just grateful to
be able to provide that experience. I also spoke at

(00:42):
the Hometown Titan Retreat this week with Wade Swichel from
two College Brothers. Had a great time dropping some knowledge
for other real estate agents as well as home service professionals.
If you're ever seeking a speaker for a real estate event,
please do speak out, or an entrepreneur event, please speak out.
I'm always looking to do local events. If you're not local,

(01:04):
probably not for me. I don't want to travel too much,
but if you've got local events that you need a
real estate speaker for. I am always interested, so make
sure to reach out. You can do that on all
of our socials at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok,
Facebook for any of your real estate speaking needs. But
I want to first start out today with kind of

(01:27):
the topic of the moment right now that everyone's talking
about that's attached to real estate, and it's kind of
this roller coaster that we have going on in the
financial markets. So this week and last week, we've had
the announcement of tariffs, the rollback of some tariffs, and
just a massive roller coaster in both the stock market

(01:49):
and the bond rates. And so when bond rates, when
the market, you know, you know, it's it's kind of
interesting because people think that like that they're they're connected,
but they're but they're realistically not connected. They're kind of
perpendicular congruents a little bit. So when the stock market is,

(02:10):
you know, volatile, you see the same thing happening with
bonds and mortgage rates on a daily basis. I think
one point about a week ago, we had probably the
lowest point that we'd seen in mortgage rates in a
long time, and then the stock market recovered and then
it dropped. So the reality is that tariffs are going
to have an impact on real estate, but not the

(02:32):
massive impact outside of the psychological. So certainly it makes
it more volatile to lock an interest rate because one
day they may be up, another day they may be
down a quarter point or a half point. But there's
definitely a lot of volatively. So as the stock market
goes up and down, the bond market goes down and up,

(02:53):
meaning that mortgage rates are ebbing and flowing in some
ways opposite of what's happening with the real estate market
or not the rest of mark at the stock market.
So if you're a home buyer or a real estate agent,
a mortgage lender in this season, one of the recommendations
I'm gonna make to you is to do your best
to really stay educated on what happens with you know,
Treasury bond rates, how the Fed rates impact mortgage rates,

(03:17):
and then you know, cautiously guiding your clients the best
that you can on locking their interest rates. You know,
if they lock on the wrong day, like you know,
the market's in a volatile place, it could cost some money.
So it's gonna be you know, there's gonna be a
little bit of science involved with locking interest rates right now.
People are gonna have to be cautious doing that. So

(03:37):
the the other side of the terriff equation is that
the majority of the tariffs, certainly there are some building
materials and appliances and things like that that trickle down
into new construction, and then new construction sales from an
appraisal standpoint, trickle into resell values. So of course there
is some impact on real estate values if the tariffs

(03:59):
end ups dick or what depends on getting negotiated. The
President now is negotiating with you know, fifty plus nations
to come up with fair trade agreements to try and
put the US in a better position, and as he
goes through that path, depending on what those agreements are,
will depend on how much of it trickles down into
a home as far as resale homes, though those are

(04:21):
homes already constructed. They already have all of their materials supplies,
they've already been built. So tariffs on a direct basis
don't have a massive impact really more of an indirect one.
The biggest obstacle that tariffs and the ebb and flow
of the real estate market and the up and down

(04:41):
of the stock market have is causing people psychologically to
be afraid. If you look at any of the trackers,
you know, fear is out there right now, and it's
fear simply because there's a lot of you know, there's
a lot of volatility, and there's a lot of new announcements.
But I also think that fear is promulgated by the
messaging that whatever news source you follow is putting out

(05:03):
to you. If I talk to someone who's watching more
conservative news cycles, they're not as afraid. If I talk
to someone who's watching more liberal news media, they're more afraid.
And it's simply because if you look, it's really kind
of funny, if you look at how the framing about
what's happening with the stock market in tariffs is framed,
two competing news stations will frame it completely differently. It's

(05:27):
either Trump is evil or Trump's the greatest thing ever,
and so whether you agree with either one of those,
you're somewhere in between. The reality is is that where
you're getting your information is going to cause you to
have some bias with taking action right now. And if
there's anything I've learned over twenty years in the real
estate business, is that any kind of volatility or a
fear that happens, people are looking for a reason to

(05:51):
step away. They're looking for a reason not to buy. Okay,
they're not necessarily looking for a reason to buy. Most
of the time the opposite is happening. They're looking for
to disqualify house, or looking too for a reason to
disqualify a city or a neighborhood. People are just naturally
more pessimistic in a lot of ways, so they're they're
looking for a reason to back away. And there's a
lot of reasons right now, especially with how it gets promoted.

(06:13):
During twenty twenty two, for example, we had a you know,
twenty thirty percent drop in the market over a timeframe
as well that was simply classified as a correction and
a you know, it's it's normal. And then the same
thing happens in this presidency and it's turned into you know,
oh my god, my four h one K is going
to go to zero. So it's it's really the messaging
that's out there that's causing people. And what I would

(06:34):
tell you is to really kind of look at facts
and research and don't fall into these clickbait articles about
what's going to happen. And you know, because that the
media a lot of times wants to scare you. They
want to scare you so you don't take action, so
you don't better yourself. They want to scare you because
they know that's what gets your eyes and keeps you
watching it. So when they release an article about how
the tariffs are going to crash the real estate market

(06:55):
or how this is going to happen, what ends up
happening is that it causes people to keep watching it. Okay,
so they keep money, they keep making money, and so
in reality, you know, as long as you're not selling
your stocks, it really doesn't matter. They go up, they
go down, over a history period of time, they always recover. So,
you know, try not to let the short term happenings

(07:17):
in the stock market, especially if it's an asset you're
holding for the long term, effect your real estate purchasing decisions,
because that's essentially what some of the news media wants
to do. So it is an incredible time, if you
think about it, to buy real estate in our market.
There is a lot of upside. People don't realize this,
but there are a lot of deals. There's a lot

(07:38):
of people moving because they're feeling the remnants and the
consequences and the fear of another hurricane season for those
that went through it and maybe went unscathed, or those
that did get hit and now I've had to jump
through the hoops of trying to get repairs or trying
to get insurance money. So there's a segment of people
where there's homes coming available with some motivated sellers. There's

(07:58):
a segment of people that And again there's a segment
of people that moved during COVID because our state was free, right,
we were allowed to do stuff. And then they got
here and they went to a hurricane and it scared
him so much that they're bouncing, right. So there's people
leaving for that. The other thing I think is you've

(08:20):
seen the last couple of years, we really haven't seen
a lot of appreciations. Our home prices have kind of
been stagnant. And if there's anything I've learned over my
twenty years, it's the period of time that they're stagnant.
It's gonna pop, you know, it's going to go in
the other direction. And a lot of people are predicting
that for twenty twenty six for our real estate market,
and I am as well. And there's a lot of
factors going into that. And so you don't want to

(08:42):
try and buy when the market's exploding. Okay, there are
people selling their homes right now that overpaid a few
years ago because they got caught in the you know,
oh well, now I should buy because it's exploding. You
need to buy before it explodes. You don't want to
follow the masses. When you follow the asses, just remove
the m so you're following. You don't want to follow
the masses. You don't wanna wait till pops. You wanna

(09:03):
do it before that. You want to you want to
have some understanding. And in my experience, three billion dollars
in sales have built a real estate empire. We're in
a great time for Florida real estate. There are a
lot of positive things coming in the next couple of
years that I think we're going to see another spike again.
So let me explain why. Well, Number one, a lot

(09:24):
of predictions that we see some interest rate relief this
year up to maybe three quarters of a point to
ninety basis points by the end of the year. That's
a big drop, you know, if you look at it.
Let's just say hypothetically, and I want everyone to understand,
everyone's credit profile is different, the loan product that you're
gonna use is different, the term, the downpayment, all that.

(09:44):
So I'm gonna use some rough figures. Okay, let's just
say rates right now around six point seven. Okay, if
we get down into the five So if we get
to five point seven, okay, that is, you know, theoretically,
about a fifteen percent cut in the total interest rate.
That's a massive drop in payments and affordability for people

(10:05):
when prices aren't spiking that much. Okay, So there's that
that's on the equation this year, knock on wood, assuming potentially, hopefully, prayerfully,
we don't have any other major storms this year, Okay,
statistically statistically speaking, we probably won't. I hope we don't.
I pray we don't. So we don't have any of
those which killed our market in the fourth quarter, sales rebound,

(10:28):
interest rates drop. A lot of these current policies get
smoothed out by the end of the year, and I
think we have a better twenty twenty five than we
had twenty twenty four. Now expectations are in twenty six,
rates drop even more. If we get a four in
front of those rates again or a low five aren't
even just with that, the market's gonna pop and we're

(10:48):
gonna see appreciation again because there's so much pent up
people out there, so many pins up people. They're just
waiting to get rates closer where they are. They're sitting
in homes with you know, two, three and four percent
inches and they're not gonna buy a six or seven
or maybe even high five. You get down to low
five or fours, those people are gonna move and they're
gonna move up. Okay, you know they're wanting to move

(11:11):
up now, but they don't want to give up their
low rate. Another thing that's out there that I think
again could hypothetically pop our real estate market. A lot
of discussion in our state about property tax abolishment, major
property tax relief. One of the biggest complaints I've heard
the last couple of years has been cost of insurance. Well,

(11:31):
your cost of insurance is way less than the cost
of your property taxes. And the reason people are complaining
about insurance isn't because most people are stroking a check
for their insurance bill. It's because their payment, their taxes
go away. You're gonna hear a lot less complaints about
the insurance stuff. Your taxes go away, and it's your
your payment gets to be like what it would be
if you had a two or three percent interest rate.
You don't want to buy after that. You want to

(11:53):
buy before that. And the chances are pretty good in
my opinion, just looking at a Republican House and Senate,
Republican governor, and a lot of the energy that's behind it,
a lot of the messaging that's out there, it will
require a sixty percent constitutional amendment. Considering a number of
homeowners here and the number of people in the real
estate and mortgage and construction industry, I think there's a

(12:16):
really good chance. Now. I don't think it's going to
be a complete abolishment. My prediction, just speaking onto speaking
to a couple of local legislatures or legislators, is there'll
be some sort of abolishment for homestead properties below certain
price ranges. I think there'll be some sort of additional
protection on investment and commercial properties, some relief for them.
But I think where they're really going at is the homestead,

(12:37):
individual homeowner, and realistically, even if your home goes above
and you don't get the full abolishment or your own
commercial property, the domino effect of abolishing property taxes for
that large of a segment of the population will massively
improve our real estate market. If you wait until after
those things happen to buy, you're going to pay way more.
You're gonna get stuck in a bidding organ Smart Money's
buying real estate right now. So hopefully that helps you

(12:59):
that that is you eight one, three, three, five, nine
eighty nine to ninety call or text us. You can
also go to duncanduo dot com. Message us again. We
would love the opportunity to help you purchase before that happens.
So I'm going to continue this conversation talk more about
the Tampa Bay real estate market after a quick break
here on the Duncan Duo Show. So back here on

(13:20):
the Duncan Duo Show talking about the Tampa Bay real
estate market. When we aren't on air at the Dunkin
Duo Twitter, Instagram, YouTube, TikTok, Facebook, always here to drop
the best real estate knowledge and guess what this week is.
If you're a home seller, you need to go to
Duncan Duo dot com. You need to message us. You
need to get your house on the market. Okay, because

(13:40):
this week, this week, sellers who list could potentially make
forty eight hundred dollars more. According to realtor dot com,
their home selle nine days faster and have thirteen point
two percent less competition. April thirteenth to nineteenth is the
best week of the year to sell you home. Based
on this statistical analysis, you could put a next big

(14:04):
chunk of money in your pocket. The timing from it
is is ideal and it and it lines up with
our market as well. We we haven't gotten too hot yet. Okay,
it's you go under contract. Now, you're going to close
in the summer. Okay, You're a lot of the audience
is going to start showing up pretty soon. First quarter
historically is a slower real estate quarter. It starts to
pick up in the second quarter. We've got some some

(14:27):
you know, positive real estate news kind of circling out
there with potential relief for property taxes, potential relief coming
for mortgage rates, and so statistically, this is the best
week of the year to sell your home. So if
you've been thinking about selling your home. Please call us
eight one three three five eighty nine ninety or go
to dunkin Duo dot com. We can get your home

(14:49):
on the market, get it, get the most amount of
eyes on it, gets you the most amount of money,
or if you're someone that just doesn't want to even
deal with that, we can bring you a cash offer
as well. We've got a few different options and our
goal is to bring you the right solution for you,
full disclosure. Cash offers right now, we get a lot
of people call about them, and unfortunately that is not

(15:11):
going to put the most amount of money in your pocket.
Back a few years ago, when the market was really hot,
cash offer buyers, hedge funds, some of the largest institutional investors,
even my own fund personally, could take a little bit
more risk on a house because market prices were going up.
We're not seeing that now. I'm certainly predicting it for
next year. But again, there's a lot of things that

(15:34):
could happen between now and then. So the people that
are out there buying homes for cash right now, they're
not going to give you a retail offer. They have
to make money. So if they're going to make money
on your house. They've got to buy it at a
price enough to where they can fix it up, put
it on the market, handle all the CosIng costs, handle
all the repairs, handle the holding costs, pay the commissions.
So I want you to understand, if you're motivated, a

(15:57):
cash offer is amazing. I mean, you can be quick
and move on on. It's like trading a car in
or taking something to a pawnshop. Okay, You're not going
to get the same amount of money that you'd get
in a retail store. You're not going to get the
same amount of money as if you put an ad
out and went through the process of spending a few
months trying to sell it. It just doesn't work that way. So,

(16:17):
especially as the market is corrected, those cash offer buyers
are now a lot more conservative with their offers. They're
just not as aggressive. We're seeing stuff today where people
are going to have to take massive haircuts. So we're
willing to bring you a cash offer, but I want
to be honest and tell you the likelihood of you
accepting it as slim, especially if you think that there's
any fantasy land chance if you get an offer like
your neighbor got a few years ago when the market

(16:39):
was crazy and a cash offer buyer paid full price
because price was rising so much that when they sold
it in ninety days even if they did nothing to it,
they'd make money. That's just not the market that we're
in this at this time. So, if you've got a
home that needs a lot of work, you know that
may be a path where a cash offer makes sense
because you don't want to have to go through the

(17:00):
assle of making repairs, or you don't have the money
to make the repairs, or you don't want to deal
with financing, or the traditional process selling a home. All
those things make getting a cash offer makes sense. But
if you're a regular homeowner that's got a home in
pretty good condition and uh, you know you you don't
have some sort of major push to have to sell,

(17:20):
the number that you're gonna get is probably not gonna
make you happy, okay. Or if the number you get
does make you happy, there's terms, terms and conditions. Either
you're not gonna get all your payment at once, they're
gonna break it up into multiple payments, are gonna pay
or they're gonna pay you part of it when they
sell the home to the next buyer, or they're going
to charge you some astronomical amount of fees. Had somebody

(17:43):
tell me thee today, Oh I got this guy giving me,
you know, four hundred thousand for my for my house.
Looked at the contract, there's like twelve percent in selling fees.
It's like, that's not really four hundred dude, that's you know,
three point fifty. You do the math. It's it's not
a vanity game. It's a it's a math business game. Look,
do the math. Compare apples to apples. That guy's not

(18:04):
really giving you the same offer as somebody that's going
to give you, you know, three fifty five or three
sixty for your house with no fees. Okay, you're letting vanity.
You know what's more important to you? The money do
you actually put in your pocket and do some freaking math,
or the number you get to lie to your friends
about that you sold the house for it isn't really
true because they took away a bunch of money and fees.
So again, do the math. Read the contract. It's probably

(18:28):
the biggest mistake I see home buyers and home sellers
make when they sell the cash offer people is they
don't read anything they look at the number. Oh, it's
a four hundred thousand dollars offer. They don't read the terms,
and they get to closing and it's a much lower
number than they could have got it. They just sold. Traditionally,
most real estate buyers and sellers don't really read or

(18:48):
understand the contract, and frankly, there's a lot of real
estate agents that don't understand them either. There's a lot
of real estate agents don't even own houses. So proceed
with caution with who you choose to use, which company
you decide to partner with, but also read your contract,
especially when you're dealing with the cash offer situations. Compare
apples to apples. Get the math, do the math, and

(19:09):
if you're not great at math, use you use your phone,
use a spreadsheet, do something to figure out what they're
charging you, what the closing costs are, how they're gonna
pay you, how you're gonna get paid, what the guarantees are,
when can it close? Know all those things. And also,
if they have a low s grow deposit or they
want to have an assignable contract, they're not really wanted
to buy your house. They're wanting to find somebody to

(19:29):
buy your house while they lock it up and make
the difference. They make the big on you. So I
want to talk about that. I want to talk about
wholesalers and what wholesalers do. And I'm not talking about
the big fund buyers. The big fund buyers that you
see doing a lot of advertising. Those are the legitimate buyers.
They're going to buy and closing your home. They're just
gonna charge you a lot of fees, or they're gonna
make you jump through some hoops and they're still going
to make you negotiate on repairs. We want to talk

(19:49):
about wholesalers because the's a lot of people right now
getting tricked into deals with wholesalers and they don't really
understand it to read the contract. And I want to
talk about that after quick break here on the Duncan
Duo Show. So back here on the Dunkin Duo Show.
The real estate market brings a whole slew of entrepreneurs
that have different business models, different perspectives in different ways
to either quote unquote help sellers or to help themselves.

(20:13):
And historically, wholesalers don't have a great reputation for truthfully
representing the best interest of the client. A wholesaler is
not someone who really intends to buy your home. Okay,
So there's a difference between somebody like me. I don't
do wholesaling, Okay, my funds, we don't. When we bring

(20:35):
a cash offer, you know, our goal is to bring
you either a cash offer from us and our fund,
or a cash offer from a large institutional investor. Okay,
that that will close on your house. Okay, that intends
to do their due diligence and close and wants to
buy your house. Okay. So how to differentiate a wholesaler

(20:59):
from an institutional investor? Okay. Institutional investor is usually going
to have a name that you can google and figure
out who they are. Okay, they're backed by an enormous
hedge fund typically Okay, it's not going to be someone's
individual name. Right. They're also going to put up a
reasonable amount of escrow. The smaller the escrow deposit, the

(21:22):
more likely that your buyer really doesn't intend on selling
your house. I see escrow deposits at one hundred or
five hundred, even one thousand dollars sometimes, and they're cash.
If they're cash, they're going to put up and they
really intend on buying your house, you're going to put
up more reasonable escrow. Those small escro amounts tend to
tell you that it's likely a wholesaler. There's another portion

(21:43):
in the contract that's called an assignability clause. An assignability
clause allows that person to sell the contract to somebody else.
They flip the paper. Okay, so what a lot of
wholesalers will do. And these are the guys that are
going to knock on your door. They're going to be
the smooth talkers. You know, they're not going to have
a lot of proof about their ability to buy your home.

(22:03):
You're not going to be able to google their company
name and see that they own a lot of real estate.
You're not going to be able to find out that
they're attached to some huge billion dollar company. They're likely
a hustler. They're a street hustler. They're they're a guy
that goes door to door and tries to find deals
and then they lock the deal up and they say, well,
mister seller, I need ninety days or sixty days to

(22:24):
close in your house. No one with cash needs that long. Okay,
they're gonna they're asking for a long time, and they're
going to put an assignability portion in the contract, They're
probably not going to read it. So what they do
is they put your home under contract, they give you
one hundred or five hundred or one thousand dollars, you know,
throw away escrow money. That's not changing anyone's life. They're
not really going to do a lot of due diligence,
and they're gonna take that contract and they're going to

(22:46):
shop it around to other retail investors and they're going
to try and make a big on you. So an
example would be they go and and again, I don't
do this, Like so if somebody gets a cash offer
from my fund, I don't do this. We close with
a lot of the institutional investors. So I'm giving you
this advice to help you pick through this so that
you don't make a mistake. I cannot tell you how

(23:08):
many times we had calls from people saying like, I'm
under contract with this guy and I have been for
three months and he's cash and he's supposed to And
then you look at the contracts, like did you read this,
did you talk to somebody, did you get a professional's help,
did you get advice? Because you should have never agreed
to this, Like, why would you agree to this? Because
the person's a smooth talker, because the person's really nice
and they build great trust and rapport. But that person

(23:28):
intends on taking that contract and then maybe going out
and making five, ten, twenty, thirty, fifty thousand dollars. Somebody
buys a contract from them, So they go and lock
your four hundred and fifty thousand dollars house up and say, oh,
i'll close. I'll give you three sixty. Then they find
somebody else to buy it for three eighty. Then they
assigned the contract to that person, they make their twenty
and then that person's meant to close. Okay, you just

(23:50):
gave away twenty grand when in reality, if you hired
a really great marketing real estate agent, you're gonna get
all of that money. You're certainly potentially going to pay
some commissioner fees, but you're gonna put more money in
your pocket and you're gonna have more transparency. Okay. So wholesaling,
I work with a lot of them. They they certainly do,

(24:11):
especially in a lot of distress situation, help the market.
There are a lot of legitimate ones. There are a
lot of ones that I trust that I think do
a great job. And then just like real estate agents,
there's a lot of them that are unscrupulous, and we
find it happen all the time that a client gets
locked up with somebody unscrupulous, a rookie wholesaler, doesn't know
what they're doing, doesn't have a list of buyers, doesn't

(24:32):
know how to shop it properly, and ends up, you know,
basically causing client a lot of grief and never really
actually intending on closing. So if you, if you ever
do get someone like that, you really do need to
read the contract. You need some professional help. And even
if you don't talk to a real estate agent, talk
to a lawyer, Ask a lawyer to review it, you know,
ask ask for some time before you sign the contract.

(24:53):
Of course, they're gonna do everything they can to prevent
you because they want to make their you know, five, ten, fifteen,
twenty fifty dollars on you. Do everything I can to
convince you why you don't need to do that. But
anyone that's legitimate, anyone that is truly you know, admirable,
will give you the opportunity to be able to look
into it a little bit more and answer your question.

(25:14):
So when you're dealing with wholesalers, it can be it
can be great. There's, like I said, there's some great ones,
and then it can be very challenging because you can
get stuck into something you didn't agree with with someone
completely inexperience, and there's very very little regulation on them.
There's no there's no licensing, there's no compliance, there's no
code of ethics for real estate wholesalers. I mean it's

(25:35):
literally like the wild wild West. You have to be
really cautious about going into contract with somebody you can't
prove definitively I mean definitively has the ability and the
intention to buy the property. A lot of them don't
intend to buy it. They want to lock your con
they want to put your home into contract with some
long inspection period. They're not inspecting your house. They're just

(25:55):
asking for a long inspection period so they have more
time to find a buyer and they can make money
on you. Okay, So that's real estate wholesaling, one on one.
If you ever run into those situations, we're glad to
look at it and see how we can give you advice.
But I would encourage you to run from it and
just call us instead. Go to Dunkin Duo dot com.
Call us at eight one three three five nine eight
nine nine zero. You know, plug in your information. We'll

(26:18):
do our best to find a legitimate buyer that intends
to close to help you get to your next real
estate step. I know I've talked about this before, but
we're always on our socials at the Dunkin Duo on
all the social channels. Again, that is at the Dunkin Duo, Twitter, Instagram, YouTube, TikTok.

(26:42):
So if you want to stay up to date on
what's going on in real estate, that is the easiest
place to stay up to date on everything that we
talk about and everything that is going on in the
real estate market. I want to talk next to people
that are thinking about doing a short sale. There are
a small number of consumers out there that are in distress.

(27:04):
Either they didn't have lead insurance last year, they've they've
lost their job. Maybe they're a federal employee that got
laid off and they can't make their payments. They're behind
on their mortgage, they owe more on it than it's worth. Now,
we've had a historical run up in values that have
paused over the last couple of years. So if you
bought and let's just assume you didn't do any refinancing.

(27:27):
If you bought in you know, twenty eighteen, you're probably good.
Bought in twenty nineteen, he bought in twenty twenty, even
twenty twenty one, you're probably good, okay, And your lender
will likely do what's called forbearans. So if you if
you're struggling, you can't make your payment, you fall a
little behind, call your lender. Don't just put your head
in the sand. Call your lender. They'll work with you.

(27:47):
If you have a decent amount of equity, they'll probably
do four barans with you to hope you get back
on your feet. Thanks fed. Nobody really wants foreclosures. They
don't want to own the property. They want money, okay,
So foreclosures are never going to be the thing that
they were back in the Great Recession. Ever, the fix
is in. They fixed it, Okay, They're not going to
foreclose on people at the same pace. They're going to

(28:08):
do everything they can to either sell the asset, give
you four barans until you get back on your feet
because you've got equity. Because they know the second they
start foreclosing on holmes this domino effect. It inhibits their
ability loan, It inhibits appraisals, It pulls values down across
the board. It just guts all these major financial institutions.
So they use four bearans. COVID made them figure that out.

(28:30):
So if you're in that situation, you've got a short
term blip, call your lender, have a conversation with them.
See about four barons. Secondly, if you aren't you in
that position, Let's say that you don't have equity. Let's
say that you're really behind. Let's say that you haven't
been able to find a job. Let's say you've done
four bearans and they're done with you doing four barons, okay,

(28:52):
you should look at a short sail. We help customers
of a wait foreclosure okay, and we help customers improve
their credit by doing it that versus letting it go
all the way to foreclosure. If you are in distress,
if you're someone who owes more on the home notes
worth akau either refinanced okay, took out money, took out equity,

(29:13):
or you bought it. You know, maybe twenty twenty two,
twenty twenty three, twenty twenty four and you've had to move,
maybe you've got laid off. Maybe you're, you know, in
in the military or defense apartment. Maybe you've got to
be PCSD out. All those things can happen, and lenders
will work with you, and the real estate agent's fees
are covered by the lender. If we help a client

(29:35):
do a short sale, are services to market that property
and to get paid will get paid for by the bank.
They won't get paid for by the consumer. We work
with some short sale negotiators. You get to have full
transparency about what's going on. We always encourage you talking
to a lawyer about your options. Every situation's different, but
a short sale can be a way for somebody to

(29:55):
recover a little bit quicker. So if you're in distress,
behind on your payments, you've run out, you've used your
forebearants and you have to move, or you just don't
see your home getting back to value or a common
winner right now. Your home took on some water, your
home got flooded, you didn't have flood insurance, and you've
tried to make the repairs yourself, and now you're kind

(30:16):
of stuck. All of those things are reasons why a
bank will look at it and say, okay, we'll work
with you on this, all right. They don't want to
go all the way to foreclosure because then you abandon
the home, Then the home starts getting deferred maintenance. They
know the domino effect that comes from a foreclosure that
home will pull the values down in the neighborhood, it
will attract vagrance, it'll hurt their other assets, the other
homes they've loaned on. They don't want to do that.

(30:39):
They want to sell it before it turns into an
I sore and becomes a domino effect of pulling values
down in a neighborhood or a city. They learned their lesson. Okay,
the foreclosure crisis crush our real estate markets. It's the
biggest obstacle that now big banks will avoid because they
know that's the thing that crushes our market. They will
do everything they can to avoid forclosure and work with

(31:01):
you because they do not They know a short sale
will also bring them more money than a foreclosure. We're
a judicial foreclosure state. Being foreclosure takes a long time.
They've got to hire lawyers, they've got to go through court,
they've got to jump through a bunch of hoops and
all that time, bills are piling up on the house,
taxes are going into rears. Okay, the maintenance isn't there,
The utilities go off, mold happens, leaks happen, vagrants happen,

(31:24):
all those things they want to avoid. They want to
do a short sale. They want to help you. So
if that's you, go to Dunkin Duo dot com, fill
out a home value request, fill out a cash off
or whatever it is. When we reach out, just tell
us that you're behind, and we'll get a short sale
experienced age and assigned to you to help you get
to your next step so that you can recover quickly.
There are people we help today that did short sales

(31:46):
in the past. You can recover. You can recover within
a few years doing a short sales. There's plenty of
people that do that. We'd love to help you do
it again. Duncan Duo dot com and I'm gonna be
back wrapping up with our last segment after a quick
break here on the Dunkin Duo Real Estate Show. Here
on the Duncan Duo Show, talking about the Tampa Bay
real estate market, Andrew Duncan, the Duncan Duo team at
LPT Realty. If you're a real estate agent, man, I

(32:09):
met a lot of agents this week at the Hometown
Titan event at Mahaffey Theater. I really enjoyed it, and
I want to talk in this last segment to my
real estate agents and entrepreneurs out there and give them
some tips on some things they can do to improve
their business. And if you're a real estate agents that's struggling,
you need coaching, you need accountability, you need a new system,
you need leads, whatever it is. We are looking for agents,

(32:30):
and specifically we're looking for listing agents. We're growing the
listing side of our business. I think I tripled my
advertising and lead generation spend doing a massive amount of
streaming TV commercials right now, locked up a deal with
a large portal for exclusivity on seller leads, and of
course my deal with the Lightning and all the other

(32:51):
things that we do. So we are looking for listing
agents right now. And if that is you go to
join the duo dot com. There's a little bit of
a process for you to get certified onto our listening team.
But we are looking for some agents with some listing experience.
That that is you, and you've seen our company dominate
in the listing space in Tampa Bay, and you want
to be a part of a massive advertising growing company.

(33:13):
Going to join the duo dot com again, that is
join the duo dot com. So but before I talk
about that anymore, I want to give you some tips
if you're an entrepreneur and you're struggling, if you are
a real estate agent and you're struggling. I gave five
tips this week at the Hometown Titan event with two

(33:34):
college brothers moving, and I want to give them to
you now. And the very first one for salespeople is
that salespeople typically have very poor time management skills, and
they chase squirrels and they get distracted. Turn off the
notifications on your phone. If you want to get more productive.
The notifications on our phone constantly distract us. You get
a notification as somebody tweeted something, or somebody sent you

(33:55):
a DM, or they posted something on Instagram, or somebody
messaging on Facebook, or somebody texted you or what's app
to you. It doesn't matter what it is. Turn off
your notifications because while your notifications are on your slave
to your phone. I would tell you to reverse that trend,
and you know, put all of those things on your time.
It doesn't mean that you won't go to Instagram, doesn't

(34:15):
mean you won't go to X, it doesn't mean you
won't use those services. You're just doing it on your
time instead of constantly being interrupted during times when you
should be productive. I believe that you know, there's an
addiction to instant gratification, and that addiction to instant gratification
holds a lot of people back from accomplishing their goals
and dreams. So turn off your notifications and become more productive.

(34:35):
Because again, every time you get interrupted and you get
sucked into something, you're making somebody. You're making money for
someone else instead of for your family. Double the number
of people that you communicate with and triple the number
of times that you communicate to them. Communication is more
important than it's ever been. People are distracted. You've got
to talk to and communicate with more people. Whether that
means you're calling more people, whether that means you're texting

(34:58):
more people, emailing more people, you know, you know, doing
more on social media to attract a larger audience. It
doesn't matter, but you need to double your audience and
triple the number of times you communicate with him. If
you want to be successful, make videos for social media.
If I were to start my business over today, I've
sold three billion dollars in real estate, created generational wealth

(35:19):
for my family running a business here in Tampa Bay,
and I did a lot of it right here on
this radio station, a lot of it through mass media, radio, TV, billboards,
the lightning. If I were to start by business over
today versus starting it over to starting it twenty years ago,
I'd probably take a different path, and I'd put a
lot of emphasis on social media because you have the
ability for free just by being a personality, just by

(35:41):
recording videos to get business that historically people like me
have had to spend a lot of money to generate.
So I would probably tell people to start there first
before they start spending money. Become a master salesperson, and
become a master marketer on social media, make videos. The
reason why videos matter is because it's what all the
algorithms want. When you're posting on any of the social channels,

(36:04):
even your friends and family aren't seeing most of your
posts because it doesn't fit the content that the algorithm
wants to promote. People want videos. They want short form videos.
They want reels, okay, they want tiktoks, they want short videos.
If you're really compelling and really entertaining, then maybe YouTube
might get you some people. But realistically, in my opinion,

(36:25):
start with short form videos. Start with posting videos about yourself.
And here's the thing. People are so self conscious about
what they look like that it holds them back from
doing video because they're worried what people might say or
think about them. People are too worried about themselves. People
are worried too much about what they look like to
care about what you look like. Just do the videos.
Don't make them perfect. You're not a newscaster. Just go
out promote yourself. Promote your business. Be your best marketer.

(36:49):
If you own a business, you're a real estate agent,
you're a marketer. First. You're not a real estate agent
until you have business. Okay, you're a real estate practicer.
You need business, you need clients. Okay, video are free.
There's only one of you. Make videos about things you're
passionate about. Talk about the real estate market. Don't make
it all business. Weave in some personal stuff. Invest in yourself,
get out to educational events like the event I spoke

(37:12):
at this week. One of the keys to my success
was I got got around two events, I learned a lot,
I learned a lot from other people. And then, last
but not least, getting around more successful people. If you're
a salesperson, the more successful people you get around, they'll
lift you up, they'll give you ideas, they'll help you grow.
So hopefully those tips are great for you if you're a
business owner, a salesperson, or a real estate agent. And
like I said, if you're a real estate agent looking

(37:32):
for a new opportunity, hit us up at joindduo dot com.
Share that website with somebody you know that struggling in
real estate that needs to pick me up. Get jointduo
dot com And thanks for tuning in and have an
awesome rest of your weekend. Tampa Bay