Duncan Duo 7-27-25

Episode Transcript

Speaker 1 (00:00):
I'd be Sunday, Tampa Bay. We're with you for another
week here on the Duncan Duo Real Estate Show, like
I am every Sunday at ten talking all things real estate,
all things Tampa Bay real estate. You're on WFLA News
when we're not on air. Check us out at the
Duncan Dubo, Twitter, Instagram, YouTube, TikTok. You can also follow

(00:21):
me personally at the Andrew Duncan on Instagram. I think
I'm the same thing on Facebook. I might be my
screening might be a little different. But if you search
Andrew Duncan and I'm not hard to find with the
blue check mark. So follow us on social media. We're
always putting out relevant real estate content, letting you know
what's going on in Tampa Bay, what the statistics look like,

(00:41):
what the market looks like, what we're seeing, what we're experiencing.
And today I actually want to talk about some predictions
and you know, this real estate, this year's real estate market.
But one of the biggest obstacles with this year's real
estate market continues to be interest rates. But one thing
that gets misunderstood. I see a lot of things out

(01:02):
there about how Tampa is one of the lower performing
real estate markets in the country, and the Gulf Coast
is this and it a lot of it is intending
on trying to make people think that there's there's something
you know, bad about our real estate market. It's heading
in a bad direction. But the reality is it's just
hurricane hangover. If the hurricanes didn't happen, our real estate

(01:25):
market would be in a completely different place. And when
you get hit with back to back, you know, natural disasters,
of course it's going to have a lingering effect on
real estate market. Houses got flood and Shren's claims happened,
And I talked to friends that operate in markets around
the country, like you know, some in Louisiana, some in
Texas that had also been hit with massive storms, and

(01:45):
they had told me, look, it's a it's a couple
of years before things start to normalize in your real
estate market, assuming similar market conditions. So the reality is
that from a long term perspective, the hurricanes that happened again,
assuming no other major hurricanes happen this year, the hurricanes
that happened create a short term challenge on a real

(02:08):
estate market, short term, not a long term one. Not
enough damage, not enough homes destroyed a short term one.
So it's created this incredible buying opportunity for people that
are looking at buying long term on water or waterfront
and waterfront areas. Because of the hangover and the fear
that people have, I think way too many people let

(02:29):
fear motivate them. But if you've paid attention to real
estate long enough, you know that historically waterfront real estate
outperforms everything else, although it isn't as much this year,
and historically buying it over the long term has done
incredibly well. So it's created this great buying opportunity for
people that are buying for the long term. Now, of

(02:50):
course there's still a little bit of hurricane hangover. It's
going to take a little bit of time to completely
get through it, but a lot of the fundamentals of
our real estate market are more impacted by that than
anything else. When I see that prices have softened this year,
and I hear people saying, oh, there's problems with our
local economy, there's problems with this. No, no, there's not.

(03:11):
The problems realistically are a national one from an interest
rate perspective, and the only thing that's caused our real
estate market to have a short term blip on the
radar where the storms. The further we get away from
the storms, and more our real estate market will improve.
So if you're a home buyer and investor right now,
I haven't seen a better time to buy in my

(03:32):
twenty years. In terms of buying for the long term,
I think it's created a great buying opportunity for people
that can qualify with higher rates or that have cash
for long term holds. Simply because we've seen prices soften,
buyers have a better negotiating advantage. And I think our
market is going to very quickly escalate back in the
upward trajectory. And I want to explain why. But I

(03:55):
also want to explain to the people out there that
don't really understand real estate. They say, oh, home prices
across the nation are down, completely irrelevant. Oh this you
know market happening in New York, or this is happening here,
pretty much irrelevant. The only thing that really matters for

(04:16):
our real estate market is what's going on here. And
there's some unique economic factors that are happening in Tampa
Bay and in Florida, as well as the likelihood that
we're going to see interest rate relief over the next
several months and likely well into twenty twenty six, we're
going to see some FED rate cuts. We know we're
going to see FED rate cuts. That's what's holding everything

(04:38):
back nationally. So at the same time that we see
FED rate cuts start to happen, there are some major
proposals out there that could really maximize the number of
people moving here, the number of people investing in real estate,
the number of people deciding to sell their real estate,

(04:59):
as well as how affordable we become we know during COVID.
So what I'm telling you is, I believe the second
half of twenty twenty six and twenty twenty seven are
going to be enormous spikes for our real estate market.
If and again, it remains to be seen. There's some
curve balls here, but there's some major things that I

(05:20):
want to talk about to tell you why now is
the time to buy, why you shouldn't wait until these
things happen, Because I think we're going to see a
COVID two point oh surge. And I don't mean we're
wearing masks and we're you know, we're imprisoned in our
homes and having to be forced to do certain things.
I don't mean that, I mean what happened in real estate,

(05:41):
which is everything spiked. Okay, interest rates got cheap, and
we had this huge serze of population movement because as
people stayed home and they started to evaluate their lifestyle
a little bit differently, and they realized how much should
have paid in state income taxes in some of those
states were raising income taxes at a time when people
couldn't even go out and enjoy what they were paying

(06:01):
taxes for people moved in masses to Florida. We've seen
we saw a huge population surge that has softened obviously
post storms. And again a lot of this depends on
you know, not having massive storm impact again, especially at
back to back like we had. I mean, we can
have some threes and fours, and we can have some hits,
and you know a little north of us, a little

(06:22):
south of us, but we really had two that were
just massively direct in terms of their damage in Tampa Bay.
So so what I'm saying is, we know interest rates
are going to drop, we know Trump is going to
replace the FED chair. We know next year, with the
way things are, the economy is going we know FED
rate cuts are coming, and as those get closer, mortgage

(06:45):
rates start to soften and reduce prior to the expectation.
So the mortgage markets move kind of ahead of the
FED rate. So if it's expected that we're going to
see a twenty five you know, BIPs drop, then you
know mortgage rates move in that direction before where it
actually gets announced. Okay, so we know mortgage rates are
trending towards seeing some FED rate cuts this year and

(07:08):
considerably more next year, maybe even in twenty twenty seven.
You hear the President saying the rate needs to drop
by three points. I don't know if we'll get that
big a jump if we do that again. COVID two
point zero happens really fast. But let me explain why
Florida specifically and Tampa Bay are going to win in
twenty twenty six and twenty twenty seven. Well, first off,

(07:29):
you'll have again hopefully you have another year removed, more
months and another up to another year removed from the hurricanes.
So the clean out of the hurricanes, those homes get renovated,
those homes get resold, those homes get torn down, new
ones get built, Those new ones come in they're going
to be at higher prices that pulls prices up. Those
things are are underway, and they're going to make some

(07:50):
of our waterfront areas become frankly even higher priced because
so many of the single story homes will just have
to get torn down and new McMansions get built, so
so there will be some movement there. The second part
of this that really comes into play, there is legislation
right now that could end up hitting at the same

(08:11):
time that we start to see, you know, rate cuts. Now,
I want you to understand that the market didn't pop
and explode because of rate cuts. It exploded because of
what rate cuts did. It made payments massively lower and affordable.
People care less about the rate than they do about

(08:34):
the actual payment. Now, look, I could go on and
on in an economics lest about how that's flawed logic,
but I'm not going to change the majority of the
public's perception on this. They buy things based on the payment, Okay.
That's the reality of the majority of Americans, and that's
what moves the real estate needle. They buy things based
on payments, okay, and then they hold them and don't
sell them and restrict the market when they want to

(08:55):
avoid tax or avoid their net number changing. So one
thing that is being discussed presently. It was it was
Marjorie Taylor Green put a put a bill on the agenda.
It's being discussed. The President has supported it, abolishing capital
gains tax on the sale primary residences. So there is

(09:18):
a good runway, a likely possible runway that some semblance
of that happens. Okay, maybe not necessarily the whole thing,
but but again, some major tax relief that will help
some people that were waiting to sell because they didn't
want to pay their taxes or you know, it'll help
some movement there, Okay. It'll also help encourage people to

(09:40):
buy because now they get to buy an asset that
when they go to sell it, they don't pay capital
gains on, compared to a lot of people right now
that say real estate isn't doing well enough, so I
don't want to buy it. I'd rather put my money
somewhere else, in rent, because when I go to sell
my real estate, you know, if it if it explodes
or goes above a certain number, then I've got to
pay some cap gains. Okay. And there's a a massive

(10:00):
part of the population that has equity above the present
cap gains restriction of two point fifty for a single
person of five hundred thousand and four for a married couple.
The second legislation that could happen that is also has
a really strong chance of happening, is the abolishment of
property taxes for homestead residents in Florida. That's like a

(10:23):
one to two punch. Okay, those two things happen in
our real estate market skyrockets because people care about the payment.
You'll hear people all day long complain about how much
their insurance is, but they're only complaining about it relative
to what their actual payment is. The majority of people
aren't stroking a check for the insurance. It's included in
their payment when the taxes go away. If they do

(10:43):
go away, or if there's some semblance of massive relief
and it drops the payments to what home payments would
have been at lower interestrates during COVID, we're going to
see an influx of population again because people are going
to run from northern liberal areas where they have eye taxes,
and our market will pop, Our market will our market

(11:04):
will explode. At the same time that interstrates start to
cut So if interestrates start to cut your lowering payments,
and then you get rid of property taxes for the
majority of people, especially the homestead people, and you now
don't pay cap gains on real estate, you're going to
see again real estate or homestead people. You're gonna see
renters get off the fence. You're going to see people
move here, and our real estate market will pop. It

(11:26):
will it will, We will see COVID two point zero.
So if you're sitting on the fence and waiting, or
if you're a real estate agent and you're out there grinding,
keep grinding, you're going to get to pay dirt the market.
Put the right discipline in place, and establish the right
discipline and take the right action right now, call and
talk to more people, serve more clients, and then the
market is going to sprinkle some benefit on you in

(11:47):
twenty twenty six, twenty twenty seven, with even some semblance.
Even if these things don't pass in their entirety, the
fact that they're being discussed and they could pass, even
in some reduced form, will have a considerable impact on
improving our real estate market in twenty twenty six and
twenty twenty seven. So I want to talk next. I've
talked about this before, but I've had some people say, oh,

(12:07):
the real estate market is cooked. I just think it's hilarious.
The reason the reason our real estate market is struggling, obviously,
it is higher interest rates. We had some inflation. A
lot of that's improving, but it's storm contingent. And I
want to tell you why the real estate market isn't
going to crash. There is zero chance of a residential
real estate crash. And I want to say that zero

(12:29):
in lieu of a you know, natural disaster, major nuclear
tearor its something crazy. There's no chance of a residential
real estate market crash. And I want to share why.
After a quick break here on the Duncan du A
real estate show. So back here on the Duncan Duo
Show talking about the Tampa Bay real estate market. Andrew
Duncan at the Dunkin Duo. The first segment of the show,
I talked about what we're seeing in the real estate market,

(12:51):
why I believe twenty twenty five right now is one
of the best opportunities to buy real estate and a
long time in Tampa Bay, especially if you're looking at waterfront,
beach front, luxury stuff. Man, it's on sale, especially if
you're buying for the long term. And I talked about
how the storms and the hurricanes we had last year
really the main thing that's driven our real estate market
not to perform as well as others across the country.

(13:13):
Instead of having stable prices like we're seeing throughout the country,
where prices aren't really changing that much, we're seeing a
little bit more of a drop because of all those
damaged homes that are selling at lower prices. So then
they show up and they say, oh, this pulls all
the averages down. So they say, oh, the average sale
price is down in Tampa six percent. Well, of course
it is because you had six hundred thousand dollars houses
that someone got two hundred thousand insurance on and then

(13:36):
sold it for three point fifty. Yeah, of course the
average prices are down. You'd be an idiot to think
that the hurricanes wouldn't do that to people. That doesn't
mean it's across the board, and it certainly doesn't mean
it's going to have an enormous long term impact, especially
because I believe we will see FED rate cuts this year,
we'll see massive FED rate cuts next year. In my opinion,
and we'll see property tax and capital gains tax relief

(13:59):
based on bills that are being pushed right now, maybe
not in their entirety like they are being pushed, but
in some fashion of those things at the same time
that rates drop. I believe twenty six and twenty seven
for Florida, for Tampa Bay, we're going to see a resurgent, recovered,
highly highly fast growing real estate market. So so I

(14:21):
teased just before the break that I want to tell
you why we won't see a real estate market crash.
I've talked about this a lot, but I'm still getting
it from people because they look at the statistics and
they're just they just don't know how to interpret them,
and they don't know how to factor in the external
factors like the hurricanes that were unprecedented. So when you
look at the real estate marketing, you say, oh, the

(14:42):
market's cooked. This is a short term thing that will
recover long term, especially with what we know is coming
from the government, and especially because the real estate market,
residential real estate market has a safe protective bubble over it.
We don't the government won't let the residential real estate
market crash. They won't they learned their lesson them and

(15:04):
the FED they learned the lesson. Foreclosures are what pull
prices down and destroy the real estate market, not defaults,
not people being behind on their mortgage. Okay, foreclosures. Foreclosures
are lessened because underwriting standards are higher. But foreclosures don't
end up happening today because banks, instead of just rushing

(15:27):
right to foreclosure, which was their old calling card, now
they do what's called forbearance. There's so much equity built up.
Unless you bought the last couple of years, most people
have a massive amount of equity, so when they hit
that rough patch, what used to happen is they'd end
up having to sell the home short because property values
hadn't risen. Well, the majority of people today have a
massive amount of equity, so the equity drop hasn't been

(15:48):
substantial enough to rid those people of their equity, so
they can still sell and get out, or they're in
a lower rate environment. They could rent their house for
more than their house their payment is, so the foreclosure
risk is really you know, back when we had the
Great Recession, it was a decade long path of people

(16:08):
that were that could get into foreclosure. Today, we had
so much equity run up that that equity has to
drop dramatically enough to where we'd see a mass number foreclosures,
and we're just not going to The banks will do
for bearans. They'll allow the person to add to the
as long as they've got equity. They'll add that in
those misspayments to the principle, and they'll kick the can
down the road, and then the person eventually ends up recovering.

(16:29):
Whereas before they they just rush right into foreclosure, or
or homeowners would rush right out into hiring a lawyer
and trying to do a short sale. Well now they
don't have to because they have equity. The second part
of that is the banks learn their lesson. They know
that if they foreclose on a massive amount of properties,
they're going to inhibit their ability to loan. So they
don't want to foreclose way more than ever. So they

(16:49):
do four bearans, They do workouts. They also package up.
The banks are in bed with hedge funds and institutional investors.
We've never had more property in this country owned by
Wall Street, by cash, by people that don't have a mortgage.
And basically what happens is these homes that go into
foreclosure a lot of them. The banks will then package

(17:11):
them off to another bank will package them off to
a hedge fund. The hedge fund will go out and
tell the person to get out and we'll pay We'll
give you some money to get you out here. And
then they rent the property and they hold the home.
Whereas before that propert would end up hitting as a foreclosure,
it would drive prices down in a neighborhood and it
would complete the new low, and then that was a
domino effect. Well, now they just don't foreclose on them
the same way. They package them up. They sell them

(17:31):
to other institutions in book debt sales and buys, and
then it's never reported as a foreclosure. You don't ever
see the dollar amount that's for that actual property. They
deed them, and they do them in large transactions and
book sales and book buys to keep the public from
seeing those lower prices that likely were negotiated so the crash,
it just won't happen. Those things won't hit appraisals to

(17:53):
pull values down. Foreclosures just will never happen at the
same pace. Because the banks figured out the game. They
want to keep a bubble around reds ssidential real estate
and then lastly improved underwriting standards. The massive amount of
cash buyers that we have and then the small number
of people that don't have equity to sell comparably. Okay,
so will there be foreclosures. Of course, there's always going

(18:15):
to be foreclosure. It's going to be a small number.
It's not ever going to get to a number that
makes the market crash because they're protecting it. There's like
a little bubble around it. They're keeping it safe. So
if you think the real estate market is going to crash, look,
there may be other aspects of the economy that don't
do well, there may be things that don't perform, but
the real estate market will never again, it will never

(18:35):
ever ever again do what it did in the Great Recession. Ever,
they figured it out. They know how to manipulate the
game and play the system so that those foreclosures that
are what pull the market prices down and cause the
market to crash never actually happen. They won't actually happen.
They will never get to foreclosure the majority of them. Hopefully,

(18:55):
That makes sense again, makes you more optimistic about investing
in real estate and the long term viability of it.
But also again whether you're whether you agree with what
the Fed and the banks, the institutions, the hedge funds,
and the government has done to manipulate it, it's neither
here nor there, whether you agree with it or not.
The reality is that's what they've done forbearance, change the

(19:16):
game during COVID, and now they've that's their new that's
their new model. That's our new way to to move
homeowners out, okay, or to work things out with them
and lieu of trying to take the property back and
then inhibiting each other's ability to loan and and you know,
create more real estate transactions. So hopefully that makes sense

(19:37):
and helps you understand why the real estate market won't
ever have the same crash experience that we had during
a great recession. And read be back after a quick
break here on the Duncan do a real estate show.
So back here on the Duncan Duo show talking about
the Tampa Bay real estate market. And I've been talking about,
you know, what we've been experiencing in our market and
how things have softened and the market's showing signs of weakness,
and how much the hurricanes have to do with that,

(19:58):
But I also talked about the prediction that I believe
we'll see a big real estate surge in twenty six
and twenty seven when fed rate FED starts to cut rates,
we start to see some interest rate relief number one
and then number two, A surge is very possible and
very likely when we see some property tax and cap

(20:22):
gain tax relief. That is definitely being talked about in
the government. But the idea that prices are massively dropping
is flawed logic. When I look at the statistics today,
I see an average sale price of about four ninety
when you combine Hillsboro Penells County. The last three months,
we've had forty seven hundred, forty five hundred, forty five
hundred and forty five hundred sales. Now that is markedly

(20:44):
off numbers that were close to seven thousand a few
years ago. Okay, so we are seeing fewer sales, but
our average sale price, while it's down, it's not massively down.
It's it's stabilized. So the last several months, okay, to
put into perspective, four fifty five, four sixty nine, nine
seventy one, four eighty two, four eighty nine, what does
that tell you, prices have actually recovered a little bit.

(21:05):
So the data that you see out there saying things
like all the Marcus crashing, it's old data. It's looking
at stuff from like February. So we have started to
recover in prices. We have kind of stabilized. Of course,
we've seen some drop in our UH in our sale prices,
but I also want you to understand that a lot

(21:25):
of that was hurricanes, and a lot of that is
starting to recover. And so when I look at inventory, okay,
inventory was steadily rising for a long time, okay, and
now it's kind of stable. Twenty twenty one, twenty twenty
twenty twenty twenty one thousand six months of inventory down
to four point eight two Okay. So the worst part

(21:45):
of our real estate market was was was definitely more
uh you know, late last year early this year. We've
gotten through some of it. Now is a sunshine and rainbows, no,
but it's better and it's showing signs of improvement. I
believe again, if you're a real estate agent, man, buckle
down and keep keep pushing and keep grinding. There's going

(22:06):
to be some economic things sprinkled on top of your efforts.
The harder you work right now, because it is hard
out there. There aren't as many sales. Sales are harder.
The harder you work right now, the more you're setting
up the discipline for what you can accomplish. When the
economic advantages improve. We see some rate relief, We see
some property tax relief payments go down to COVID era
level payments because taxes could go away for homestead properties.

(22:30):
And then, of course, potentially even being talked about at
the federal level, the abolishment of paying capital gains on
the sale of your primary residence. So those things are
all heading in a really good direction. Statistically, again, average
sell price in Tampa four hundred and eighty nine thousand.
We had forty five hundred and seven sales in June.
List of sale price ratio of ninety seven percent, sixty

(22:50):
eight days on market. Again, sixty eight days on market.
You know, it was seventy two in February, so come
down a little bit. Six months of inventory back in January.
It's now four point eight. It's come down a little bit.
So our real estate mark is starting to show some
signs of getting past the hangover of the hurricanes, but
it's not there yet. So if again, if you're a

(23:13):
real estate agent and you've struggled and you need some help,
we are hiring. You can go to join the duo
dot com. You can set a consultation with us. You
can rechart to our office at eight one three three
five nine eight nine nine zero. We are in growth mode.
I actually increased my advertising budget this year because I
am setting the company up for success, and I expect
that twenty twenty six and twenty twenty seven will be

(23:33):
banner years again, assuming no major hurricane disasters. That being said,
right now, for a real estate agent, what you really
need is you need to buckle down. There are a
lot of real estate agents are going to fail out.
We've got one of the highest failure rates in the
world for employment types. Real estate agents fail at a
super high level. If you're not accomplishing what you want

(23:55):
where you are, maybe you're not working hard enough. Maybe
need somebody else that can motivate and inspire you and
push you. Maybe need the tools and resources of leads
that we have. Maybe need the coaching and mental worrying
on how to build yourself up and how to become
a better salesperson. I told several of my agents this week,
things that I believe they could do if they committed
to to double their income. And if you want to
double your income and you want to be a part

(24:18):
of something special again, join the duo dot com. You
can apply for any of our open positions, you can
set up our calendarly link a private confidential consultation, and
we'd love the opportunity to help coach you, mentor you
and grow you and your real estate career. But we're
not the cheap brokerage. We're not We're not the teams
that's cutting deals and that's giving away the house. We

(24:41):
know our value. We know how we can help salespeople grow.
We know how we can help average salespeople become great
and great salespeople become legendary. Our training, our coaching, the
accountability that we have through our system, and then the
increased advertising spend are all things that are working to
the advantage of my real estate agents and it's why
we're seeing an influx of people want to join our team.

(25:02):
So if you're one of those people, if you're not
hitting it where you're at, maybe you don't have the
right leader, maybe don't have the right system. Maybe you
need to accept some coaching and accountability, and quite frankly,
you probably probably have to work a little harder. You know,
when we've seen four when we see a forty percent
drop in transactions, you can't keep doing the same things
you were doing before. You need coaching and you need
experience of people that have been through some of the

(25:24):
down markets to coach you how to properly price a
home when the market stuff, how to properly set expectations
with a client where you're only used to selling homes
when they just fly off the shelf. So, if that's
you again, hit us up at Joined the Duo dot com.
We would love to talk to you about you know,
how we can help you level up your career again,

(25:45):
that's Join the Duo dot com. We are looking to
hire agents. We have agents, we have team members that
set appointments for you. We have a database of over
two hundred thousand people and just a massive opportunity for
the right people. But I'm going to be honest for
a second. Okay, if you're somebody that wants to do
things your way, if you're somebody that's set in your
ways or pretentious or not a team player, or you

(26:06):
got an enormous ego, but you sold two homes last year,
or you're not coachable and you know it all, even
though you're broke. I don't want you. We don't want
you on our team. We want the people that are
willing to grind and do the work. We're going to
pour into you. But I can't create your work ethic.
And the real estate agents that are failing right now,
most of them it's because they lack work ethic and

(26:28):
they lack coachability. They know it all. Their ego gets
in a way. They're worried about who sign is in
the yard and who gets credit for the sale they
did two sales last year. Would you rather what matters
more to you the money you take home to your
family or what you get to tell you, what awards
you get for, you know, putting two signs in the yard.
Our goal is to help level salespeople up. But they've

(26:48):
got to understand that we do it our way. We've
always it's been massively successful, and they are agents that
make more money than they've ever made in their life
if they're coachable and they're willing to plug into our system.
But if you're not, if you don't have a work ethic.
If you don't work hard, you think you know it all,
you got a massive ego. Please don't apply because you're
not the right fit for us. So again, if you
are the right fit. If that's not you, we'd love

(27:08):
to talk to you. Join the Duo dot com again,
that is, join the Duo dot com and when we
aren't on their like I mentioned before, at the Duncan
Duo Twitter, Instagram, YouTube, TikTok, Facebook, you can follow me personally.
My Instagram is usually full of cars. So if you
go to my Instagram page and you expect to see
my personal Instagram. Now, our team page at the Duncan
Duo has all kinds of it's all real estate, right,

(27:31):
it's it's it's our brand, it's us talking about what
we're doing in the market. But if you, you know,
go to my personal page, you'll certainly see a real
estate thing here and there. But what I do isn't
who I am, you know, so more on my Instagram
page about you know me and my hobbies and cars
are a big part of that. So so again I'm

(27:54):
the Andrew Duncan Instagram and you can find me on
Facebook as well. So you know, one of the things
that I'm seeing right now out in the real estate
market and especially with home sellers. And I talk about
this a lot, but it's the inability for home sellers
to listen on price. Price has never mattered more than

(28:18):
it does right now. Home Buyers are scared. Okay, here,
they saw what happened in the storms, saw people lose
a bunch of money, saw people be underinsured. They're scared.
They're scared about the economy, They're scared about interest rates.
And I know, having done this for twenty years, I
know the opportunity is coming, Okay, the opportunity to gain
and create wealth, buy investments, grow businesses. It's on the way,

(28:43):
especially in the real estate sector. Like I said, I
think it's twenty six and twenty seven, We're going to
see some banner ears. So I'm leveling up and preparing
and putting things in place to capitalize on that. Okay,
the typical home seller and even real estate agent doesn't
have the vision or the experience to kind of see that.
So you know, we struggle a lot with home sellers

(29:03):
today who don't quite realize what you have to do
to knock a buyer off the fence. If you're going
to sell today, you got to look like a good deal.
You got to be priced well because if prices continue to,
you know, not go up all right, even though we've
seen a little bit of a blip recently, but a
lot of neighborhoods some better than others. A lot of
neighborhoods were seeing price depression. So if prices are dropping

(29:26):
and you're a home seller and you start your house overpriced, screwed,
there's a very good chance that you will not be
able to correct, and no amount of marketing fixes a
bad price. Okay, I'm a big car guy, and you
can see a bad car with a bad car fax
and it's dinged up and beat up. It doesn't matter
how many videos that car dealership puts out about that property,

(29:48):
about that car. It doesn't matter how many influencers go
and talk about how cool it is. Okay, it does
not matter. It's overpriced, okay. And that's what a lot
of home sellers are doing today. And then the problem
is because we live in a vanity, ego driven social
media market where everyone wants social gratification and they want
people to chase what they want, and they want to
be liked, and they want people to like what they like,

(30:12):
because that's the environment we're in. The more days on
market you pile up, the more buyers are just going
to reject your house, think something's wrong with it, and
not get the social gratification of feeling like other people
wanted the home and they got it. Okay. So if
you overprice your home at the beginning, when you go
to cut the price, you missed it. It's too late.
Prices are dropping now you're only at the price that

(30:32):
you should have been two months ago. Okay. So the
smartest sellers today are pricing ahead of that. They're pricing
under market. They're making a deal so valuable to the
buyer that it knocks the buyer off the fence, sometimes
more than one buyer. But the point is that if
you're going to sell today, that's the strategy you have
to do, because if you price it high and then
you lower it, you're just simply chasing it. And then

(30:53):
by the time you get the price right, you've been
on the market for four months and every buyer is
going to skip next. So if the the best piece
of advice I can give you as a home seller
today is price your home very aggressively. Cut to the chase.
If you're like, well, let's put it out there at
five hundred, but if we got a four to fifty,
we'd take it. Put it on for four to fifty. Okay,

(31:13):
cut to the chase. Don't gamble, don't overprice your house.
It's going to sit it on the market. It's not
gonna sell. Okay, then you're gonna have to lower it,
and then you're gonna lower it, and then guess what
by then it's too late. Now everyone's clicking next. Your
best opportunity is your first few weeks on the market.
If you're overpriced for the first few weeks or the
first month and it doesn't move, you know the market

(31:34):
has told you it's not that number. The real estate agent,
even an appraiser. Everyone has an opinion, the buyer. All
of that doesn't matter. Your opinion of what your home
is worth doesn't matter. Lose your emotional attachment to it
and think like a business person and price it so
that someone will buy it. If you price it what
you think it's worth, Okay, it's not going to sell.

(31:55):
You're gonna sit there and you're still going to be
the highest bidder for your home months later. You've got
to price aggressive today. You've got to knock buyers off
the fence. You've got to look like a great deal,
and you've got to get ahead of the downward trend.
That is again we talked about the stats earlier. It's
not President every neighborhood. It's President a lot of them. Okay,
shore Acres, we had one this week. Customer wants to

(32:17):
overprice it. It's not gonna sell. It's gonna be a
waste of time. We're gonna go out there, put a
sign in your yard, and we're gonna We're gonna get
feedback over and over, barely any showings. Then you're gonna
get upset that it hasn't sold, when all along the
reason it hadn't sold because you didn't listen to us
on price. So adjust your price. If your home hasn't sold,
if you're gonna sell it, get to your bottom line
best number instantly. Don't wait because because you can't. If

(32:42):
you wait, you missed the opportunity to get the most
number of eyes on your house, and then you're just
chasing and your ability to the statistically speaking, the highest
list to sell price ratio homes. Okay, so the ones
that get the most either at or above asking price,
happens very early. Okay, it doesn't happen late. Don't. Don't

(33:04):
think like twenty twenty one my neighbor's house did this
or twenty twenty two my neighbor's house did this? That
matter anymore? That was a unicorn fairytale fantasyland. Okay, aggressively
price your home if you want to sell it. We
back after a quick break here on the Duncan Duo Show.
So we're back here on the Duncan Duo Real Estate
Show talking about the Tampa Bay real estate market. This

(33:26):
next segment, I really want to talk to the real
estate agents out there. I mentioned earlier in the show
that our teams in growth mode. We're looking to add
ten more agents to our team. You can apply for
one of our open positions join the Duo dot com.
You can also register for our Career Night. We want
to pour into people. We want to help people grow,
help them grow their income, help them do more production.
But we want workers. We want people that are going

(33:47):
to grind, because that's what we have to do every
day in a market like this. If you don't want
to work and you want money to rain from the ceiling.
Real estate right now ain't for you. You should go
get a job somewhere. But if you're willing to grind
and do the work, you can set yourself up for
massive success. Because I believe now is one of the
best times to get into real estate because it will
force you to have solid fundamentals and not just benefit
from a hot market. And then if you establish the

(34:08):
solid fundamentals now and you have success when the economic
advantages improved and the market sprinkles some good on you,
you will explode as a salesperson. You'll make more money
you ever thought you'd make in your life. So real
estate agents right now, though, even ones that aren't thinking
about joining my team, I want to talk to you
because I want to tell you what it's going to
take to be successful right now. Okay, you are not

(34:30):
going to motivate a consumer. Okay, you're not that good.
None of us are that good. Nobody is not going
to consumer off defense the economics or what not. A
consumer off defense the property, the math, the interest rates.
Right now, it is survival mode for a lot of
real estate agents. Your goal should be building as many

(34:51):
connections and relationships as you can, and staying attached to
communicating with and adding value to as many people as
you possibly can, and play the long game for twenty
six and twenty seven or even maybe later this year
when the economic advantages start to turn for the majority
of people. Now, if you're talking to cash people or
people that have cash where the rate doesn't matter, they're

(35:14):
looking in the luxury market or lurking waterfront. Now is
the right time, Okay, it really is, and so there
is an opportunity to serve that market because those are
going to rebound. This is short term blip because the hurricanes.
All that stuff's going to rebound and do massively well,
and they should be acting. But people that are payment

(35:37):
people that are payment driven aren't going to get motivated
right now. They're simply not going to because payments are
going to be too high. Rates, taxes, insurance, none of
that is going to line up and knock people off
the fence. The people are going to move right now
are the ones that are going to have to. Anyone
that doesn't have to is going to likely kick the
can down the road. So as a real estate agent,

(36:00):
if you want to succeed right now, you need to
double the number of people you're communicating with or triple
you get good at video. You get good at video
because if you're not doing video and you're not putting
yourself out there on social media, and you don't even
have your brokerage name and your social media, you're missing
out on the best opportunity as real estate. Your sphere
of influence isn't gonna use you. They don't even see you.

(36:22):
You're a secret agent. They're gonna give business to other
agents that are putting themselves out there and staying top
of mind to their friends and family. You got to
double or triple the number of people you communicate with.
You got to get decent at video. You got to
put some video content out. You've got to make it
so that someone even if you're on a team like mine,
I tell my agents, if you're a secret agent on

(36:42):
social media and you're not putting out video and you're
not putting out content, someone comes to the company and
they get a signed to you, then they google you
and they can't find anything, and they don't see any videos.
They think you're some fake bs, part time agents. They're
not gonna trust you. They're not gonna call you back.
So if you want to improve your conversion, if you
want to prove your experience is a real estate agent,
get better at video, put video out, double or triple

(37:03):
the number of people you're communicating with. If you do that, Okay,
whatever success you're having right now, if you do that
for the next year, the economics are going to sprinkle
an advantage on you. And all the extra contacts on
work that you're going to do right now that may
not pay you right now, okay, but you're investing in
the future of your career. It's going to pay you
a year or two down the line. You do those things,
your income is going to explode in twenty six and

(37:24):
twenty seven, and then you're going to have a long standing,
great career. Perfect example, exactly what I did. Okay. I
got into the business two thousand in the in the
mid two thousands, and the Great Recession showed up, doubled
and tripled the number of people I communicated with, and
then guess what happened to my income doubled and tripled.
I just worked harder, just outwork people, and those are

(37:47):
the real estate agents are going to survive and thrive.
Now's grind time. Now's the time you got to put
in the time, make more calls, make more contacts, communicate
with more people. And then and then guess what, the
market will sprinkle some advantages on you. The market will improve,
interest rates will improve, taxes, property taxes might go away
and bump our market way up. And then we'll get

(38:08):
population growth again. All these things are things that are
in the works that I think again to show towards
twenty six or twenty seven being a banner year for
real estate. So if you're a real estate agent and
you need somebody to kind of push you, you want
that coaching, You want that accountability. You want somebody saying, hey,
you're not on the phone enough, you didn't make enough calls,
you didn't make enough dials. Those are the people we want.

(38:29):
People that accept I don't want victimhood. Okay, Oh, the
market's so bad. It's this, it's that I'm not going
to be successful. I don't want that. Okay. If you're
willing to be held accountable to the standards, measurable stuff
that we can track and show that you're going to
improve and be successful, that's what we want. We want
people that are going to work and grind that are coachable,
that will take We'll do the activity. You don't do
the activity, you're not going to have the success. Why

(38:51):
get into real estate orld do something else? Money it
rain from the ceiling anymore. Sunshine, Unicorn, fairy Tale, fantasy
Land is over. Okay, it's gone. The real estate agents
that got in and made a bunch of money and
thought it was easy, it's over now. A lot of
those people are going to get exited because they're not
going to change. They're not going to prove as the

(39:11):
work ethic and the market isn't just going to rain
money on them. They're struggling. They need the coaching, they
need the accountability. If that's you and you're a worker
and you're coachable and you're a team player, we want
you join the Duo dot com again, that is join
the Duo dot com. We're always looking for great talents
of people. We want to add ten agents in the
next couple of months based on the number of leads
we're generating in the size of our database and the

(39:33):
expectations that we have about where the market is going
for next year. Because we want to training coach you
now so that you're ready to rock next year getting
joined the duo dot com and thank you so much
for tuning in, and have an awesome rest of your Sunday,
Tampa Bay