Duncan Duo 6-22-25

Episode Transcript

Speaker 1 (00:00):
Happy Sunday, Tampa Bay. We're with you for another week

(00:02):
here on the Duncan Duo Real Estate Show, like we
are every Sunday at ten am right here on WFLA News.
When we aren't on there, make sure to fall us
on all of our socials at the Duncan Duo, Twitter, Instagram, YouTube, TikTok, Facebook,
and so much more at the Duncan Duo and get
your home value estimate at duncanduo dot com. What I

(00:24):
want to talk about today is something that kind of
popped up into my x feed Twitter, old Twitter, new Twitter,
whatever you want to call it. It is x now.
So saw something this week and then it kind of
gained some steam later in the week. And it's something
that's been brought up a few times about the federal

(00:45):
government taking some of the government lands and using it
for affordable housing. And Trump has come out and said it.
Certain Republican congressmen and senators have said it, and the
premise is that they would take some of this federal
land and then make it for affordable housing. Now, you

(01:07):
could argue every which way about affordable housing and whether
or not the government should be involved with affordable housing. However,
I think there are a lot of people out there,
specifically in expensive markets, probably more out in the West.
So this this federal land possible, privatizing it, making it
for development, building more affordable housing. This won't have a

(01:30):
lot of impact for US. Okay, So there's not a
ton of federal land opportunity, and a lot of the
stuff that is federal land in Florida isn't super buildable,
you know, Alligator Alley, some of the center of the state.
I can't say it won't impact us at all, but
certainly not to the extent that it would impact some
of the states where you know, the majority of the

(01:52):
land in that state is federally government owned, you know, Utah, Montana, Idaho,
No Vada, Arizona, Good Chunk, and even even a lot
of eastern California. So the the reality is that while
that sounds great and I'm hopeful that it can, you know,

(02:14):
certainly allow that to happen. That's certainly it's not something
that's going to impact the real estate market in the
next several years. If you look at some of the
federal land, uh, you're talking about utility buildouts, road buildouts,
building the infrastructure. People don't understand a lot of times
what developers do, but but it makes really catchy cool,

(02:34):
you know, social media posts and it sounds great. But
the key to all of this, and the one thing
that I think is important for people that are probably
missing one of the points. If you've heard Trump recently
and most people that are conservative, you hear a lot
of push to lower interest rates that you know too
late Powell and all the attacks on Powell and on

(02:55):
the FED that they haven't lowered interust rates. And again
it could be that could be our you no matter
which side of the political spectrum you're on. I obviously
am a proponent of lower interest rates because I think
it's hurting our economy and hurting the real estate market
and certainly hurting homeowners in Tampa Bay that are kind
of stuck in their low interest rate homes without the
ability to move because they don't want to go out

(03:16):
and get a seven percent mortgage. So obviously I'm a
proponent of low interest rates, and I'm a proponent of
them getting lowered some now other the other side of
the coin, people think that maybe inflation there's still not
enough momentum with inflation reduction, and we need to see
what happens with tariffs, and we need to kind of
play a wait and see approach. So I'm not here

(03:37):
to argue which one of those is right. Obviously I
know what my opinion is and what my belief is.
But what I want you to understand about this federal
land being privatized move is that Trump has always said
that he wanted a lot of this federal land and
stuff to go on the balance sheet to help, you know,

(03:57):
to help the country from a financial per spect to
reduced debt. All of these things. Well, a lot of
our debt is with foreign countries, and so we know
that a lot of our debt is coming due and
higher interest rates are going to trigger and cause higher
payments on that debt. We also know that Trump has
put a lot of pressure, including things like he wanted

(04:20):
to say if he could fire Powell, and we know
that he can't. But if you take some of that
land and it does end up showing up on balance sheets,
then of course that could become collateralized with some of
our debt service and people on both sides of the
spectrum argue about this, about whether or not that would

(04:40):
be good or that would be bad, but I do
believe it's a negotiation tactic from Trump. I think that
he wants to get interest rates lowered. He knows there's
risk by taking some of that land and adding it
to the balance sheet of America, or putting financial dollar
amounts on it, or collateraliz basically a whole variety of
different things that you can do in the real estate

(05:02):
development world that Trump has done his whole life prior
to being the president. So there is this belief or
hope I believe from the Trump administration and from a
lot of people on the right by the conversation or
potential act of doing some of this or starting of
the process of doing some of this, that that could
prompt Powell to lower rates. In other words, Powell wouldn't

(05:25):
want to be the guy that keeps rates too high.
Then we can't perform on our debt. Then foreign countries
try and take our land. You know. I think some
of his tactics here are to put pressure on Powell
to lower rates. So while over the next several years
some of this land may be privatized, maybe it does
help some affordable housing. But I'm just not a big
fan of the government getting involved in real estate or

(05:46):
trying to create things. We tried to make everybody a homeowner.
We saw what happened to that in the Great Recession
by making it easy for anyone to get a home.
Now trying to make affordable housing, you know, are they
really just trying to incentivize and make billions for hedge
funds or are they really caring about getting affordable housing built?
The reality is is that I think most of this

(06:08):
is a smoke show to negotiate debt and to negotiate
our interest rates down for the debt that we have
by pushing Powell to lower interest rates, because I'm sure
that if Powell knows that if he keeps rates too
high and it causes America to default on its debt,
then that also causes foreign governments to be able to

(06:29):
potentially take some of that land. And I'm sure that
he doesn't want to be that guy. So again, a
lot of things moving around, But as a real estate guy,
as somebody who's worked with a lot of developers and builders,
I just thought the whole conversation was missing the point
with some of what I think is really going on
with using our federal lands to try and get the

(06:50):
country into a better financial position. So again you're listening
to the Duncan do a real estate show here on
WFLA News. I want to talk next about credit. I
can't tell you how important credit is if you're a
home buyer that isn't buying cash, if you are getting
a mortgage, qualifying for a mortgage, credit is everything. And

(07:13):
so often we work with customers that think their credit's great,
that think they pay all their bills on time, and
think they have enough credit, and when it comes time
to qualify for the mortgage, they struggle. And they struggle
because they probably didn't run their credit, they didn't understand it,
they didn't have a mortgage lender look at it, or

(07:35):
they have an old medical bill or a missed payment,
or auto pay didn't work, or something didn't happen the
way it needed to happen. And when most home buyers
find out they have credit issue, sometimes they've already decided
to buy, found their dream home. And so you know,

(07:57):
as a real estate broker, and you know, running a
team for almost twenty years, I cannot tell you how
many times consumers have come in, made mistakes, not got
their credit squared away, found the house, and their dreams,
the husband's pleasing the wife, the wife's in love. Everything's perfect,
sunshine and rainbows. We got enough money, we had the
down payment. We've looked at twenty seven houses, and we

(08:22):
had a lender tell us that we would be fine
based on information that we told them, but they didn't
really check anything. And now that they're gonna check things,
Oh man, we have some problems. We've got, you know,
credit issues, whether that's too low, not enough credit, late pays,
missed pays, whatever it is, your credit score massively, massively matters.

(08:46):
So I want to tell everyone that you can get
your credit report for free. There are multiple places free
credit report dot com. Most credit card providers will let
you get a copy for free. Use the time or
use this kind of opportunity to go and get yours
and double check it, especially if you're thinking about buying

(09:07):
a home or selling your home and moving into another home.
You know, look at your credit. Be be cognizant of
the fact that mistakes happen all the time. People open
up credit cards in your name. People you know, medical
bills get hit to your credit, you miss a payment,
you forget you know, somebody adds you as a co signer.

(09:30):
I mean, I've legitimately had this happen in my own family.
I had a family member open up a furniture credit
line in my grandparents' name many years ago and made
the payments and everything looked great. My parents, my grandparents,
never heard anything. Everything seemed fine, sunshine and rainbows for
about a year, and then that person had some financial difficulties

(09:51):
and all of a sudden, my grandparents' credit starts getting
roasted because another family member fraudulently signed their name on
a b bunch of documents and use their credit profile
to qualify for some furniture, and their credit got smoked.
So again, your information is out there. Just this week
we saw sixteen billion password leak hit social media. Your

(10:13):
information is out there. If you're not paying attention to it,
if you're not looking at your score, if you're not
looking at your lines, you're going to end up getting hit.
So many people have their identitiespoll and so many people
have lines of credit opened up in their name, bank
accounts that get hacked. Things that you just don't realize
are going on, and may go on for months before
you finally catch it. So if you're in the process

(10:34):
of buying a home, there's never a more important thing
to do than check your credit. I'm a firm believer
that if you are going to go out and look
at homes, before you even look at a house, you
should go through the financial side of things again, over
and over and over again. Consumers will say, oh, I'm good,
my credit's great, I've got enough money, I'm fine, I

(10:55):
can look at these houses. They'll go out and they'll
look at houses, they'll find one they like, and then
they can't buy, and then they lose it, and then
they're devastated or they find out their credit's bad because
of something they didn't know about. So real estate agents
will naturally want to make sure people get pre approved
because they don't want to go out and spend time.
We don't get paid for showing you houses. We're commissioned,

(11:15):
you know, we don't get a salary, we don't get
paid hourly. We don't make money unless we actually help
somebody buy or sell a house. So real estate agents
naturally are going to you know, push you to say, hey,
you need to show me that you can qualify. I
need to help you talk to a lender. Because they
don't want to waste their time either. But a lot
of times they're pushed to get you qualified. Is just
as much about them looking out for you as it

(11:37):
is them looking out for themselves. They want to make
sure that you can get in front of and solve
any of the potential things that happen that you can't
solve if you wait till it's too late. We've had
customers go out and spend months look at houses, fine
the one they fall in love. They made financial decisions,
they paid off stuff, they did this, they did that,
they saved the down payment, and they're really didn't pay
attention to credit and their credit was smoked. So look

(12:01):
at your credit contest things. Talk to a bortgage lender
about your credit. Make sure that you know what you
need to do to improve your credit. And especially if
you're thinking about buying or selling real estate, that would
be the time before you make the plunge to do
that thing, to go out and look at houses or
to put your house on the market. Make sure you
can qualify for what you want to buy. All right,

(12:22):
So we're going to be back. We're going to continue
this conversation after a quick break here on the dunk
and do a real estate show. So we're back here
on the dunk and do a real estate show talking
about the Tampa Bay real estate market, and we are hiring.
If you've thought about a real estate career, you're probably
going to hear people right now say, oh, now isn't
the best time to get into the real estate business.

(12:43):
Oh it's a bad market, it's a tough market. Well,
I want to tell you the opposite. If you want
to do the work, now is the best opportunity to
get in or to change companies. Okay, So, if you're
not succeeding the way that you want at a company
you're at, go to join the Duo dot Com. To
join the Duo dot Com, you can set an appointment

(13:03):
with our team. You can register for our career, Career
and night. You can apply for any one of our
open positions. But here's why I believe this is one
of the best times to get into real estate, especially
if you want to build a long and successful real
estate career. You know this is coming from someone who's
got twenty years history in real estate in this market.
You've seen my ads, you've seen the TV and the billboard,

(13:25):
you've heard me on the radio, for you for a
really long time. Been in the business for twenty years,
and the best time I thought to get into real
estate back in the day was when I got in
around the time of the Great Recession. The reason being
that if you can get in during that time and succeed,
you will have fundamentals and a work ethic that will

(13:47):
allow you to thrive even more in a healthier market.
The problem is that most people are playing the short
game and not the long game. If you're playing a
short game and you want to get into real estate
and you want to do it for a year or two,
and do you want to make a bunch of money,
and you saw an infomercial on TV or you saw
a video on YouTube for people telling you, like, oh,
get into real estate. Everyone's making money. If your goal

(14:09):
is easy money, you shouldn't get into real estate right now.
If your goal is that you're going to work your
tail off and you want to learn, and you want
to establish fundamentals and be coached by the right people,
join our team right now because you will have a
solid base of fundamentals, you'll have the work ethic, and
not only will you be able to succeed in a

(14:30):
down market, but you will thrive in a hot market.
The problem is, and the reason why the failure rate
is so high in the real estate industry is because
way too many get into it for the short game.
If they're not making money after three or six months,
they're bouncing. If you get into this business and you say,
you know what, I'm going to grind it and I
can make it happen for a year or two before
I start making considerable money. By three, four and five,

(14:52):
you're going to make money that could change your life.
Like the life trajectory that you have, you can make
massive amounts of money. And that's exactly a pattern that
I followed. That's exactly the coaching that we do with
our agents. If you are in, if you are wanting
to get into real estate, or you're presently in real
estate and you don't want to work and you just
wanted money to rain from the ceiling and you're lazy
and you don't make the calls and you don't shoot

(15:14):
send the text messages, and you don't do the work,
then yeah, this market's going to eat your lunch and
you might as well get out, and you might as
well not get in. But if you're somebody that want
to works your you know what off so that you
can build a long term life by design and live
a life of your dreams and make more money than
you ever thought you would. Now is a great time

(15:34):
to get in because you will grind and work really
hard during these challenging markets, and you'll have built up
a resistance to the obstacles of the market, and then
when the market improves, you will do even better. But
to get rich quick agents the people that are hit
it and quit it. They just want to jump in
and make millions in a year. That don't realize that

(15:56):
people like me had to spend and build for twenty
years to get to the place that they're at. Yeah,
you probably shouldn't get in. If you're lazy, you shouldn't
get in. If you don't want to talk to people,
if you don't want to make phone calls, if you
don't want to send text messages, you shouldn't get in.
But if you want to work and you want to learn,
and you want to build a career a long term trajectory,
if you're playing the long game with real estate, now

(16:19):
is an absolutely perfect time to get in. And it
mirrors what I did because having been in the business
now for twenty years. I started right at the end
of kind of the huge run up that we had.
That's when I started. The Great Recession hits like right
when I start get rolling. That's when the Great Recession hits,
right when I start figuring stuff out. And I grew.
There were years during the Great Recession. I doubled my business,

(16:42):
and because I learned the niches and I did the
work as I improved and got better and had the
discipline and the work ethic through the challenging markets. Man,
my business exploded during the good markets. But way too
many people they want to get in and they want
it to be easy. Ill estate is not easy. It
has a massively high failure rate. It is really hard.

(17:05):
There are a lot of people that don't make money.
There are a lot of people that make less money
than a Walmart Greeder does. But for the ones that
will grind it out and work for a year or
two and not make much by year three, if they're
doing the right things and they're at the right place,
that's the other key. I think way too many real
estate agents get into the business to stay. Oh I'm
gonna go to the place that has the highest splits.

(17:28):
You don't even know how to close business, you know
how to generate the business. The place is with the
super high splits. If you're not on a team, they
don't really care much about you because they're not really
making any money on you. They have to have so
many agents. They've got to have one hundred and fifty
two hundred agents to make any kind of reasonable profit
for their business. And they can't give you any attention,
they can't provide any resources, they can't provide any tools.
You get what you pay for. If you're going to

(17:50):
the place that has the highest split, man, you better
be an incredible marketer. You better be incredible on the phone,
and you better have an insatiable work ethic. If you
don't have those things, you should actually go to the
places where the split is lower, because you're going to
get value. You're going to get leads, you're going to
get coaching because they're able to provide those things for you.

(18:11):
You know, based as a business owner, based on the
profit margin. They can look at it and say, Okay,
we're making x per deal so we can have a
personal coach, we can buy this CRM, we can spend
you know, one hundred thousand dollars in a month on
radio and TV ads. You can't do that on a
really low split, and so so many agents do that wrong,
and that's why they fail, because they get excited and

(18:32):
they look at it and say, oh, man, if I
do a ten thousand dollars deal, I'm going to get
ninety five hundred of the commission. This is where I
want to go. And then they'll work the whole year
and do one deal. Whereas if they'd have gone somewhere
that was going to give them all of those things,
they would have maybe made less per deal, but they
would have done a heck of a lot more deals.
So play the long game. Play the long game, get

(18:52):
in for the right reasons, and when you decide where
to go. Or if you're struggling right now and you're
not hit the numbers that you want, it's because you're
trying to be a master of everything and you end
up being a master of none. You're a jack of
all trades master of none. You might know everything there
is to know about real estate, you might have gone
to every zoom possible about real estate, but if you

(19:15):
don't know how to generate the business, it doesn't matter.
There are plenty of people in Tampa Bay that know
more about real estate than I do, but my business
flourishes and does way better than them because I know
how to generate the business. So if that's what you want,
If that's what you're looking for, join the Duo dot
com or reach out to us on any of our socials.
Read backward can continue this conversation after a quick break

(19:35):
here on the dunk and do a real estate show
sore back here on the Duncan Duo show talking about
the Tampa Bay real estate market. Look, I focused the
last segment talking about people thinking about getting their real
estate license, and if you're thinking about it again, I
kind of gave you my points. You got to have
a great work ethic, You got to be playing the
long game. You got to go somewhere that's going to
be able to generate business for you and have coaching

(19:55):
and support. And if you're struggling, it may be because
one of the important things about real estate you're not mastering,
and it's generating the business or having enough people to contact.
But there's one extra element that I think is important
for people thinking about getting into the real estate business. Today,
and it's ensuring that you have enough reserves, enough financial

(20:16):
reserves or things you can do to make ends meet.
Way too many real estate agents either come to our
company or leave the company they're at without having that
set up. In other words, they go somewhere they're not
very successful for six months and they come to us
and it's one month before they have to leave and
go get a job. Make sure that you have enough

(20:39):
money for months, maybe even a year of your bills.
This is a business that you're starting. It is a
long term career. If you had this pressure that you
need to make money in the first or second month,
you're gonna have commission breath. You're gonna struggle and you're
gonna fail because every customer is going to feel like

(20:59):
you're a slimy salesperson. You have to have enough time
in order to learn. Everyone learns at a different pace.
You've got to have enough time to learn, to season
your clients, to build up your clients, to build up
a list of people, all of those things. And if
you're a real estate agent, you know what I would
tell you is, if you've gone somewhere, I would very

(21:20):
quickly leave. If you think it is not the path
to success. Way too often people stay in those opportunities
and not you know, they stay in them way too
long before they leave. And then they get to somewhere
that can help them, that can provide leads in coaching
that they weren't getting at the other company, But they
only have a month or two left of money saved

(21:41):
away because they made the first choice, which was let
me go somewhere that's going to pay me more of
the commission, even though I don't know how to generate
any business. One hundred percent of zero is zero. One
hundred percent of zero is zero. But that's the way
most real estate agents make the choice of where they go,
and then they fail, and then they're out of the
business and are gone, all because they made a poor

(22:02):
choice about the place that they should go to start
their career. Now, I'm not saying you can't, at some
point in your career earn the opportunity to be on
a higher split or go somewhere where it is higher splits.
Because you've built a business, you understand the market. But
if you jump into the business and your whole reason
for going somewhere is because you think you're going to
keep more of the commission dollar you are, you're going
to keep more of the commission dollars, just not going

(22:23):
to be very many dollars. It's not gonna be many
dollars for you. You're gonna be keeping pennies, okay. So
make sure you've saved some money up and make sure
you're making choices to give you enough time for the
opportunity to be successful and if not, get out quickly
and get somewhere where you can make money. So hopefully
that helps you understand again, Jointduo dot com. If you're

(22:44):
thinking about a change with where you're at, if you're
not succeeding in the environment you're in, or if you're
thinking about getting into real estate and you're playing the
long game, you want to work hard and you know
it's going to take a while to build up and
be successful, because it will. Anyone that tells you that
real estate is sunshine and rainbows right now and you're
going to jump right in and you're going to be

(23:04):
successful is lying to you. It is very, very challenging.
So again, join the Duo dot com if you're thinking
about a change or if you want to start a
real estate career, I talk a lot about new construction,
and I can't tell you enough about how I think
that many home buyers right now need to look heavily

(23:27):
at new construction. It's where there is affordable inventory because
all of the lender, all the new construction builders have lenders.
They're helping you buy your rate down so you can
get a rate into the fives, maybe even the fours,
but you can definitely buy your rate down to your lender,
the lender that works for the builder. They buy them
down in bulk so that you can save money to

(23:50):
give you credits. New construction is also a great opportunity
because you have lower utility costs, lower maintenance costs, generally
lower property taxes for a period of times, less likely
to have to come out of pocket for repairs because
most of the things are going to be warranted. The
downside of new construction, you're dealing with construction trucks and noises,

(24:12):
and unless you're buying into a community that's already done
and you're one of the last houses, you're going to
go through the growing pains of sprinklers getting broken, and
the construction trucks, you know, leaving materials in front of
your house and it being dirty and there's mud everywhere,
and you know, all of those things are going to
be things that you have to deal with in a
new construction community. But again, the benefit is is that

(24:34):
you get in, You get in at lower pricing, you
get lower taxes, you get lower maintenance costs, you get
lower insurance for sure. So new construction is definitely great
opportunity for people. It's something that we encourage and recommend
to most first time home buyers, especially even if they
they are looking in an area that doesn't have new construction.
We would encourage them and say, hey, look, why don't

(24:56):
you just consider looking at this? And you know, when
I don't, I'll personally work with as many clients anymore.
I'm focused on working, you know, on the business instead
of in the business. But when I was working in
the business, I remember a scenario where a really good
friend of mine, there's going to be a first time
home buyer, and I think I was in my late
twenties early thirties at this point, and they were looking

(25:17):
at bungalows and similar heights, and every time they looked
at a one hundred year old bungalow and similar heights,
they go unto contract, they get the inspection report and
it would be a laundry list of stuff of things
they have to do, and their insurance would be really high,
and they'd get freaked out. Finally, I said, hey, look,
let's go outside of town a little bit. Let's go
out twenty or thirty minutes, and let's look at new construction.

(25:38):
And that's what they ended up buying. So I encourage
first time home buyers really think twice about whether or
not you want to live in an area that's got
older houses, Think twice about whether you want to live
in an area that's more urban versus suburban, and look
at the financial benefits of owning new construction. Because again,
there are areas in Tampa they don't have affordable new construction.

(26:00):
I mean, that's clear. You know, South Tampa, some of
the heights that new construction there because the land cost
isn't affordable. You know, if you're a first time home
buyer with a first time home buyer average sale price
in the market budget, which is probably in the load
of mid four hundreds, you're not finding new construction in
South Tampa for that. You're not finding it in some
of the heights either. So you've got to go out

(26:22):
to the suburbs a little bit and get out of
the city. So if that is something you're interested in,
we would love to help you. We do have agents
that specialize in working with customers. They're specialists and areas
neighborhoods that work with a lot of home builders, so
we can help make sure you get the right incentives
and all of the important things that are valuable for

(26:44):
people looking at new construction. So again, you're listening to
the Duncan du A Real Estate Show when we aren't
on air at the Duncan Duo Twitter, Instagram, YouTube, TikTok, Facebook,
and Dunkin Duo dot com. If you're thinking about selling
your home, the number one tip that I have for
home sellers right now, look Sunshine, Unicorn, fairy Tale, Fantasy

(27:04):
Land is over right. A couple of years ago, you
could put your house on the market at a price
higher than the last sale. Prices were going up, and
your house is going to sell on a weekend. That
is over today. Selling your home is a grind. It
is going to take time. It is not likely to
happen quickly unless you master two things. Okay, and today

(27:28):
mastering These two things are probably the most important things
that are going to help your home sale. Now, I
can tell you all day long that the broker and
the agency matters. Of course it does. And the marketing
and the photos and the videos, they all matter, they
really do. Okay, they matter. However, they don't matter if
your home is overpriced for its condition. The two things

(27:48):
a home seller can control their price and their condition.
I would encourage you to go with the real estate
agent that gives you the lowest price. If you meet
with multiple real estate agents and they're all around the
same and one of them is lower, the lower one
is probably going to get your home sold. They're probably
a better agent, a better negotiator, and they're being honest

(28:08):
with you. The higher one is lying to you. They're
likely going to put your house in the market. It's
not going to move. They're not used to being in
a challenging market. It's probably a newer agent that's used
to being in a sunshine and rainbow's market and they
don't realize it's shifted, but it is shifted and shifted hard.
We are in a buyer's market in Tampa Bay. Most neighborhoods, Okay,

(28:29):
the buyers have the advantage. The buyers are sitting on
the fence. They don't want to pay seven percent interest rates.
They want prices to drop. They wanted to be more affordable.
They're sitting. You have to knock them off the fence
with a great deal. The smart sellers right now are
going with the agent that's honest with them on price,
and they're addressing whatever they can from condition. It is

(28:51):
a price war and a beauty contest at the same time.
The homes that are priced the most aggressive and in
the best condition are the ones that are selling. And
you've got to be in the bottom quadrant of that.
If you say, oh, let's try this for a little while,
then you're wasting the best opportunity to get your home sold.
The best opportunity to get your home sold is early.

(29:11):
If you don't price it right from the jump, you're
chasing the rest of the time, and a lot of times,
with the way prices are moving, by the time you
reduce it. You know, Like, I'll give you an example.
This week, we were telling a seller, hey, look, we
went on the market for a couple of weeks. You
got to get to the realistic price. No, let's give
it a little bit more time. Let's give it a
little bit more time. They don't listen. They know more,

(29:33):
They know more than the guy that's done three billion
in sales. They know more about real estate because they
watched an HGTV show. So they don't listen. And then
it gets to two months or three months and say, okay, okay,
now we're going to go with your price that you
told us two or three months ago. That ain't the
price anymore, dude, you missed it. It's lower than that
now because you didn't listen. Way too many sellers are

(29:54):
sitting on the market, chasing the market on price because
they didn't want to listen and they wanted to try
out price. Imagine, like you know, in any business, the
number one thing that moves inventory, whether it's real estate
or cars, it's the price. If you don't get the
price right, doesn't matter how much marketing is done, doesn't
matter how many places we put the house. No dumb

(30:15):
rich person is going to come in to buy your
house cash because they're foreign. We get that one all
the time too. That's idiocy. You got to have the
price right. People are going to the data is there,
people can look they can compare it. They can look
and see what's selling, they can look and see what's
not selling, and how long a comparable home has been
on the market it's priced similar. Sellers, your home is
not the taj Mahal. It's not the best one in

(30:37):
the neighborhood, usually despite you thinking that it is. And
even if it is the best one in the neighborhood,
owning the best home in the neighborhood doesn't always get
you the best price because you may have what's called
a functional obsolescence. You may have a home that's to
improve for the neighborhood. You've put so much money, and
then you're not going to get most of that money
out because no one in that neighborhood's buying at that
price range. So sellers, an aggressive price is the thing,

(31:00):
the number one thing that's going to move your house,
especially if you don't want to make improvements to it,
you have to price it aggressively. And here's the reality. Okay,
homes sell for what the market will bear. I can
have an opinion. You can have an opinion, but the
market proves who's right to put a house on the market,
and it's remotely well advertised and it doesn't move. That's

(31:21):
the market's way of seeing your house isn't worth that price,
it's overpriced, especially if it goes a month or two.
That's the market's way of saying, your home's overpriced. You're
not going to get an offer on it. It's not me,
it's not you, it's the market. So you have to
have that aggressive price. And here's what happens. Sometimes you
come in and you say, you know what, we're gonna
come in with the aggressive price. And here's the reality.

(31:42):
We don't live in a vacuum. So even if you
come in and you're the most aggressive price, somebody might
undercut you. The market changes every single day. You have
to stay ahead of the competition. You have to beat
your neighbors to that next sale. Okay, And when you
price it aggressively, you have the greatest chance to move
it before someone else in the neighborhood undercuts you. Number one,

(32:03):
and number two, you have the greatest chance of creating
more than one person interested in it. This happens all
the time. This is why things go in an auction for
more money than what they should go for, because two
people compete. If you price it aggressively, there will be
enough people to look at it that will find it
as a value, and you may get more than one offer.
You may end up getting above what your higher price

(32:24):
or retail price was by pricing up below the market.
Today's market is one where you're much more likely to
get more money for your house by negotiating up above
the asking price than you are down because if you
put it high, everyone's going to click next because no
one wants to negotiate. Okay, they're all afraid that. Here's
what consumers want to do. They want to click a
button on Amazon and have magic show up. Okay, you

(32:44):
can't do that with real estate, but that's their mentality,
so they're not going to click the button for your magic.
If your number isn't aggressive, and if your number is aggressive,
you have a greater chance of getting the number you
really want by going aggressive on the price then you
do by going high and having everyone miss it and
click next and you missing the mark completely. So that's

(33:04):
my tip today. Price aggressively if you want to price aggressively,
if you want your home moved and you want to
be done with it, if your home has failed selling,
if you had all these obstacles and it hasn't moved.
Go to Duncan Duo dot com. We specialize on helping
people whose homes failed to sell Again Duncan Duo dot com.
Be back after a quick break here on the Duncan
Duo Show. So back here on the Duncan Duo Show.
And I spent most of the last segment talking about

(33:27):
pricing your home Andrew Duncan, the Duncan Duo team at
LPT Realty. And you know it's a tough market. And
I said this, and I'll say it again, if you
want to sell your home today, you have to price
it aggressively. It is a beauty war or a price
war and a beauty contest at the same time. If

(33:47):
you don't price your home aggresive, it's not going to
sell because someone's going to come in and undercut you.
And there's going to be someone in that neighborhood that's
more desperate to sell, more motivated, or has more equity
than you that they're willing to sacrifice in order to move.
Right now, if fewer homes are selling, more homes are
on the market, you have more competition. We're in a
buyer's market in most neighborhoods, and when you're in a
buyer's market in most neighborhoods, you've got to be competitive.

(34:10):
And again, the number one thing that separates real estate
agents today that are successful from ones that aren't are
the ones that are being realistic with the clients and
getting the client to understand aggressive pricing. Because if they
price aggressive, they'll get multiple people in some instances and
maybe get the number they really want. But if they

(34:31):
price a high with the ability to negotiate down, which
is like a really old school old mentality, that just
doesn't work in real estate today because no one wants
to negotiate. They're all afraid of it. Everyone wants to
click a button and just have magic happen. Okay, they
don't want to have to haggle, And the only and
the best way to get them to haggle is to
haggle up. Haggle them up, price it aggressive, get a

(34:52):
frenzy on it, almost like an unofficial auction. Your your
house is worth four hundred, I promise to you if
you price it, if you believe your house is w four hundred.
And we know the market's tough, and we know sellers
you're paying concessions, and we know, uh, it's taken a
long time to sell, and your house is truly genuinely
worth four hundred and that's what you put it on
the market for. Probably gonna sell it maybe every sixty three,

(35:15):
seventy three eighty, somewhere in that range. It's gonna take
a few months, okay, because buyers want a discount because
where rates are, and they see what's happening, they see
the trend with downward trends on pricing in neighborhoods. They
know there's a lot of inventory, they know they have options.
So you're not gonna You're not gonna get full price
in that scenario. It's gonna sit on the market a
little while. You're gonna eat through a few months, and

(35:36):
in some instances maybe longer. Maybe you end up having
some damage from a storm, maybe you have some obstacles,
and then your house is finally gonna sell. Okay, it's
gonna take months, and you might get the number you want.
Now you take that four hundred thousand dollars house in
price to the three fifty, okay, and the complete opposite
is gonna happen. You're going to have a frenzy of

(35:56):
people chasing the home, and you're likely to get the
same number or better then the market will bear. You's
likely to get it quicker. And by having the driver's
seat in the negotiation to try and pile multiple people
into the house, that gives you the greatest chance to
sell today and sell at the best price. Pricing it high, Okay,
it doesn't get you the high price. Pricing at high
gets you not sold. And three or six or nine

(36:19):
or twelve months in, you're firing your agent because the
home didn't sell, when the reality the reason the home
didn't sell probably was because either the agent didn't wasn't
honest with you enough about price, didn't push you enough
to the right price, or what is likely more common,
you didn't listen. Accept responsibility, okay, be responsible for pricing

(36:40):
your home at a number that will move it. If
you aren't willing to do that, then they'll put your
house in a market. Don't waste the time, don't waste
the energy. But you have if you were going to
move your house. And again this is coming from someone
who grows business. During a great recession, when we were
seeing much larger drops in price, people were losing their houses.
People are going to for closure. People were losing all

(37:02):
of their equity, okay, because price was dropping faster and
people weren't listening. Okay, don't make that mistake. If you
overprice your house, you're gonna eat through all the mortgage payments,
and if the market corrects more, you might lose all
of your equity. You might eat it all up all
because you didn't price it aggressively. That would have gotten
you likely around the same number. It just would have

(37:22):
forced the action quicker. So if you're a home seller
and you want to get aggressive, that's what we're about today.
I can't again. Price it's the number one thing. It's
gonna move your house. And if you want aggression on
your price, that's the path you need to go. You're
gonna have somebody in your neighborhood undercut you if you
don't price it aggressive, and that's the path that won't
get your home sold. You're gonna just be chasing the

(37:43):
market the whole time. Keep lower in the price, and
lower in the price, and lower get to the price. Now,
get real, okay, Get rid of the idea that your
house is worth the number of the neighbor's house. Sold
for a year or two ago, because that was unicorn, fairytale,
fantasy land, and it's over. Okay, what is happening in
your neighborhood? How many home on the market. What do
you have to compete with? Who do you have to
beat to be the next home in the neighborhood that sells.

(38:04):
That's the strategy today and the aggressive price gets that done.
And we again, we talked to so many customers that
have come to us. Well, my agent told me this,
your agent sold three homes last year. Your agent ain't
real experienced. Imagine going to the person because they gave
you the lowest price. Imagine going to a brain surgeon
and saying, ah, man, they they made all these promises

(38:27):
and they were the cheapest. That's where we went. Of
course you didn't get the results. You wont you went
to the cheapest, you know. And then I'll have a
customer say, hey, you know, well they were going to
charge me ex commission, or they charged me ex commission.
They didn't didn't charge you anything. Your house didn't sell
because you were overpriced and you didn't get it in
the right place and they were bad at marketing. So again,

(38:51):
going the discount path, going the high price path that
works in a hot market doesn't work anymore. That market's gone.
If you want to move your house, you got to
be aggressive on price. If you don't want to be
aggressive on price, either don't sell it or wait, you know,
and maybe it's lower by then if you need to sell.
If you want to sell, we'd love to help you
Duncan Duo dot com, but be prepared. Our agents probably

(39:12):
are not gonna tell you the highest price because we're
not gonna blow smoke up your you know what, We're
not gonna lie to you. We're gonna tell you that's tough.
We're gonna tell you what you have to do to compete,
and you have to decide do you want to list
your house or do you want to sell your house.
If you want to list your house, we may not
be the right one for you because you're gonna not
listen on price. You're gonna put it out there at
some stupid number. Buyers are gonna click next. No one's

(39:34):
gonna buy it. We're gonna burn through a bunch of
marketing dollars, time, energy, and effort. You're gonna get mad
and yell at this because more people aren't looking at it.
But the reason more people aren't looking at this is
because you're the highest priced home in the neighborhood. Because
you're overpriced. So if you want to move your house today,
if you want to sell it again, Duncan Duo dot com,
We're gonna coach you on price. We're gonna tell you
what it's gonna take. And frankly, a lot of the time,

(39:54):
even when we give the aggressive price, we end up
getting the price that you want, are closer to it
because the strategy today is more important than you can
possibly imagine. So hopefully that helps you again Duncan Duo
dot com, we'd love to help if you want to
get aggressive, if you want to move your house, if
you're home and failed to sell with somebody else, now
is in time you've got to get it moved, then
give us a call eight one three three five nine

(40:16):
eighty nine ninety and it's eight one three three five
nine eighty nine ninety or Duncan Duo dot com. And
you know what, it's the end of the show. So
I'm going to go enjoy the rest of my weekend,
and I hope my Indiana Pacers win the NBA Finals tonight,
and you enjoy the rest of your weekend too.