Episode Transcript
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Speaker 1 (00:00):
Welcome to the Business Happy Hour radio show with your host,
Frank the Bank Kodo, President of Lincoln Lending Group and
he won three mortgage for twenty years right here in
Tampa Bay, joined by his incredible co host Rosa Bahiti
and Senia Akishna, top producing real estate agents with Mahara
and Associates. These three bring nearly five decades of experience
(00:21):
in the local real estate market. If you're looking for
real estate or business advice, no matter what your experience level,
the Business Happy Hour team has been there for you
for almost a decade right here on news radio WFLA.
Now sit back, relax, and get ready for some serious
real estate and business talk with three of Tampa Bay's
top experts.
Speaker 2 (00:40):
Here's Frank the Bank.
Speaker 3 (00:42):
Hey, Tampa Bay, welcome back to the Business Happier Hour,
your number one show for all things business and entrepreneurial,
and today is no different. We have an amazing show
for you, a much anticipated show. Rosa Sinia and yours truly,
Frank the Bank have brought in the best auctioneer in.
Speaker 2 (00:59):
This data Florida.
Speaker 3 (01:01):
The owner of American Heritage Real Estate Auctions Auctioneers is
Michael Peters.
Speaker 2 (01:05):
Welcome, to the show.
Speaker 4 (01:06):
Michael, Good morning, Frank, thank you for having me.
Speaker 3 (01:09):
All right, We're gonna have a lot of fun with
you today. You also brought some of your amazing office staff.
We have a Demian Ben in studio with us as well.
How the two are you doing?
Speaker 5 (01:17):
Doing very well? Thank you today, Thank you so much.
Speaker 2 (01:19):
All right, thanks for both of you for coming.
Speaker 3 (01:22):
If you've never listened to the show before, it is
a fun filled, exciting show. We do like to talk
business and real estate, and today is no different.
Speaker 2 (01:30):
In studio with my amazing.
Speaker 3 (01:32):
Co host from Mahara and Associates, one of the top
real estate teams in Tampa Bay Mahara, mister Ray Mahara.
Speaker 2 (01:39):
We gotta love that guy.
Speaker 3 (01:41):
Might be the only guy that could possibly outwork me.
I don't know, ladies, but I don't know. Ray and
I are going to get ourselves in trouble one day
doing that by guys Sinia and Rosa with Maharan Associates.
Speaker 2 (01:52):
How you doing, Rosa?
Speaker 6 (01:53):
I'm good?
Speaker 3 (01:54):
Thank you and the two of your sharing of Mike
today because we have a big studio.
Speaker 2 (01:58):
Hyah so, Mike, ed we have three gas that's right
in today? How you doing?
Speaker 6 (02:04):
Hello?
Speaker 7 (02:04):
Hello? Wonderful to have you guys on.
Speaker 3 (02:07):
Thank you, Yes, and we are super excited because, you know,
for three of us industry professionals here, I mean between
the three of us, we probably have you know, well
over fifty years experience, and none of us have actually
dealt with a real estate auction in this capacity. So
we've been talking about this to put Michael and his
team on the spot, we've been talking about it for
a long time and we're really excited to do this.
(02:28):
But in kind of following the flow of the show,
we do like to talk about some some current mortgage
events and rates in SNYA with her stats.
Speaker 2 (02:37):
But before we go into that, I'm putting Rosa on
the spot.
Speaker 3 (02:40):
She offered us Chick fil A on the way in today.
Speaker 2 (02:44):
Would you have at Chick fil A?
Speaker 6 (02:45):
Okay? So I got some nuggets.
Speaker 2 (02:47):
Nuggets and that's it. That's so boring. Come on, they
have good nuggets, they do.
Speaker 6 (02:53):
I like to switch up.
Speaker 3 (02:54):
So have you all have y'all heard of like the
the healthy Chick fil A nugget hack?
Speaker 6 (02:59):
Have you heard of this getting grilled nuggets?
Speaker 2 (03:01):
That's half of it? Okay, I know exactly what is it? DEMI?
Speaker 4 (03:04):
What is it.
Speaker 8 (03:05):
So you do a grilled nuggie combo with a small
mac and cheese, and I take Texas p and barbecue
sauce and toss my nuggets in that and then put
it on top of my mac and cheese less than
six hundred calories.
Speaker 2 (03:17):
Oh my god.
Speaker 4 (03:18):
So yeah, but I do better than all you guys.
Speaker 9 (03:20):
Okay, I buy the kale.
Speaker 2 (03:28):
Okay, that's right, Brelander. You beat it to me. He
saw me over here, like looking forward. Here we go.
Speaker 3 (03:33):
Oh so Frank's hack is what Michael does, all right,
And that's funny because my son does the one that
you do.
Speaker 2 (03:41):
Demi.
Speaker 3 (03:42):
We do the grilled nuggets with the kale salad as
the side, and then we take buffalo sauce and we
dump the buffalo sauce on the nuggets. And I think
that one comes in at like four hundred calories, like
something crazy. So and it's really good. So it is
a business show. It's not a Chick fil a.
Speaker 7 (03:57):
Show, but good plug.
Speaker 3 (04:00):
It is a good plug. Shameless plug. Hey makes you
come see it's a chick fil A on Sunday afternoon.
We'll be there waiting for you. Genius business move though,
because doesn't that make you want it the next day.
Every time you drive you're like, oh, term you Chick
fil A.
Speaker 2 (04:15):
Anyway, So that's where Sundays.
Speaker 3 (04:16):
So yeah, I mean, well it's very it's Sundays.
Speaker 2 (04:22):
You're gonna meet you in the parking lot.
Speaker 5 (04:24):
Yeah, right, gets in from the next day, you meet
the day with the cow.
Speaker 2 (04:28):
Then I'm there the next morning, get in the freaking breakfast.
Speaker 6 (04:30):
And this is kind of like real estate too, and
what we're gonna speak about with the auctioning and having
that demand.
Speaker 4 (04:36):
Build up, you couldn't be more true.
Speaker 2 (04:39):
It could not be more true.
Speaker 3 (04:41):
So guys, when we get into this second second segment,
make sure you stay tuned because we're gonna find out
what is it now? What is the difference in this
type of real estate auctioning versus maybe the one you've
heard of when you go to the county or the
city and the courthouse and all that. I'll just kind
of tease it by saying, this is completely different. Uh,
just any realtor could could get involved in do this
(05:01):
with Michael and his team at American Heritage Real Estate
Auctions and you actually can finance these something that I
just learned this morning on our pre show interview.
Speaker 2 (05:12):
So we're going to talk about that. We're going to talk.
Speaker 3 (05:13):
About the multiple offer situation, how maybe setting up an
auction could be a better angle.
Speaker 2 (05:19):
We've got a lot of great.
Speaker 3 (05:20):
Other real estate ideas we're going to bring to you here,
so stay tuned. Speaking of the market, Sennia, do we
have some good news? I've seen a lot of negative
posts in the last week.
Speaker 7 (05:31):
You know what, That's actually what I was going to
talk to you about. Oh please, So we had a
friend that you know, send us this little snippet on
Twitter about how Florida's pricing are collapsing and you know,
mentioned Fort Lauderdale. So you know what I did is
actually went on the Broward County Realtor's website. I love
it to find out those numbers. Does not sound like
(05:51):
they're collapsing.
Speaker 2 (05:52):
No, no, oh, so what really is happening?
Speaker 7 (05:55):
Their median sale price actually increased four point two percent.
And this is again the year over year numbers, so
you know, from last July to this July, right, So
four point two percent increase to me does not sound
like they're you know, in the negative fourteen percent. Whatever. Well,
I don't know where people get this stuff from.
Speaker 2 (06:14):
But when I read those, it just makes me wonder.
Speaker 3 (06:17):
And Michael and Ben and all, you're all welcome to
chime in, okay, to any of our craziness we talk about.
But it just I have to think, like, what is
the motivation? Why are you posting this? I mean number one,
even if it's true, why.
Speaker 2 (06:30):
The hell are you posting it? But but the fact
that it's not true.
Speaker 3 (06:33):
You know, we saw something the week before that talked
about Hillsboro panelas in Pasco, which Sinnia, by the way,
is like the the best at stats in anybody I know.
She knows how to look them up. She looks at
month over month, year over.
Speaker 2 (06:43):
Year, and it's it's total bs. Yeah, like it's not sells.
Speaker 5 (06:47):
I think I think bad, bad, bad bad information sells
better but doesn't help you sell.
Speaker 2 (06:52):
No, No, not at all.
Speaker 7 (06:53):
No, it's different.
Speaker 2 (06:54):
Anywhere you tune in, they read the article, is that
what it is?
Speaker 5 (06:57):
My guess, that's my guess, or.
Speaker 7 (06:58):
Some people don't. They see little snippet like that on Twitter,
they're breaking.
Speaker 5 (07:02):
Out into the article tells the truth if they read it, and.
Speaker 7 (07:06):
People usually don't. And then you get these shares and
I think, my my husband's like send stuff from this
guy before too, And it's just these really blown out
of proportion articles about you know, what's going on, And
so I think it's just for the craze of it.
Speaker 3 (07:20):
Yeah, I think so too. It's it's it's like you said,
a bad things sell negativity.
Speaker 2 (07:24):
Cell headlines, bad headline.
Speaker 4 (07:25):
There you go.
Speaker 2 (07:26):
So you're your husband bad, bad mister, because.
Speaker 3 (07:32):
You got a real and her a wife and all
you're doing is pushing the people off the fence. And
that's really my that's my concern about it is it's
they're putting negativity out there, and then you've got people
are saying, oh, it's.
Speaker 2 (07:42):
Gonna be a crisis. It's look, it's happening, let's not
buy now, and everything's dropping. So you know what I do.
I steal those articles. I just started doing that.
Speaker 3 (07:50):
You might have seen my my Instagram posts, and I
learned how to do the green screen on the little
Instagram little thingy and uh, I put them bad article
behind on the green screen and I start calling.
Speaker 2 (08:01):
Them out like is that now bad?
Speaker 4 (08:04):
Right?
Speaker 3 (08:04):
I'm getting the benefit of the bad article and the negative.
Speaker 2 (08:08):
But I'm throwing the positive on there. Yeah, And I
think it works.
Speaker 5 (08:11):
Bringing the truth out.
Speaker 3 (08:12):
I'm bringing the truth out. So Samya, what else do
we have for some stats?
Speaker 7 (08:15):
Well, I mean, all in all, I still have our
July numbers that we've gotten over. I mean, I think
we're heading towards just a more stable market, right. You know,
it was crazy for those couple of years, you know,
but right now inventory is increasing. It's still not to
you know, a normal level where there's you know, that equilibrium, right.
You know.
Speaker 3 (08:32):
I have heard that multiple times this week that the
inventory does seem to be increasing.
Speaker 7 (08:37):
Yeah, and I mean that that's a good thing.
Speaker 2 (08:39):
Okay, I agree. I think more options, Ben, what do
you think?
Speaker 5 (08:42):
Oh yeah, inventory, it definitely has to go up. I mean,
that's going to bring the market up.
Speaker 2 (08:46):
Right, right, help helps me be more stable. I'm sorry.
Speaker 3 (08:48):
I've got the American Heritage Auctioneer website up on my
giant monitor in front of me, and I keep saying
we're going to get to this, Michael, But I keep
seeing the Bulsarian house off up millions of times.
Speaker 2 (08:58):
And if you're living in.
Speaker 3 (08:59):
Tam you everybody on the radio should know what the
balls arean house is. And uh, it's pretty awesome that
you were integral and in turning that house over and
selling that so very is I was we're going to
talk about that Rosa anything anything new that we have
on the real estate side.
Speaker 6 (09:16):
Well, I had someone ask me last week. Actually on
last Friday, I had four calls in one day, and
I think it's from people listening to our show and
just hearing different things, and they're like, when is a
good time to sell? So I'm curious what everyone's thoughts
are on that, and yeah, just a lot of I
think more activity is happening now with more calls from
(09:37):
potential buyers and sellers.
Speaker 4 (09:39):
I would say, good time to sell is now.
Speaker 7 (09:43):
Get you you need to sell your home and what
you're doing good time to sell?
Speaker 9 (09:47):
Well, well, think of what we just said. Inventory is
increasing now your property is competing with more inventory. You've
got a big cair lot filled with corvettes, right, what
do you do with them now? In the corvette case,
probably sell them all. But if they were all four trucks,
what do you do with them all?
Speaker 2 (10:06):
But it's it's it's a perfect supply today.
Speaker 4 (10:08):
Now is the time to sell.
Speaker 3 (10:10):
You're going to get more money for that corvette if
there's only one on the lot, right, then if there's
fifty on the light.
Speaker 2 (10:16):
Right.
Speaker 3 (10:17):
So, sellers, are you hearing what all the experienced agents
are saying?
Speaker 2 (10:22):
Right? Ben made a good point. You sell when you
need to right, right.
Speaker 7 (10:25):
And you buy when you need to and right now
is a good time to buy because you have more options, right.
Speaker 9 (10:30):
And you know you take with motivated sellers, with motivated sellers.
Speaker 6 (10:36):
You like realistic motivated seller.
Speaker 1 (10:40):
Right.
Speaker 2 (10:40):
So I am the definition of a motivated seller. We're
going to find out how.
Speaker 3 (10:47):
This oxygen thing goes, that's for sure. But I am
definitely a motivated seller, you know. That's that's the reason
that I got introduced to Michael Is. And it's something
brand new that we're going to talk about here when
we get back from the break.
Speaker 2 (10:57):
We got about a minute left.
Speaker 3 (10:59):
Let's uh, let's talk about something that I know it
hasn't I haven't mentioned this to you, so this is
new for all of us. Did you happen to see
my Instagram post about rates recently.
Speaker 6 (11:09):
Four percent va you locked in refinance?
Speaker 7 (11:12):
Oh?
Speaker 3 (11:14):
Social media works, by the way, guys man, not just
my radio go host who actually.
Speaker 6 (11:19):
I also reposted that and it actually did gain me
more traction. And I had my followers calling me as.
Speaker 3 (11:25):
Well, wow, thank you, and that works. And by the way,
that's what we do. We do what's called I'm gonna
lose my mind on what we call it Project mocking Bird.
Right every Thursday in my team, we take out some
exciting information and we all post the same thing. And
you have to think, if everybody has a thousand followers
and you have forty people on your team and everybody
posts the same thing, you just hit forty thousand people
and then they can do what you did and share
(11:46):
it out.
Speaker 2 (11:47):
And that's how you get the message out. Because unfortunately, our.
Speaker 3 (11:49):
News is not telling you that the rates actually went
into the fours this last week. We locked a four
point nine to nine VA thirty year fixed refinance.
Speaker 2 (11:58):
Right now, they paid a half of a point.
Speaker 3 (12:00):
Everybody's like, well, they're playing, they're playing points, so yeah,
if they paid a half of a point, guys, I mean,
come on now. Granted we're not making a ton of
money on that deal, but I just want everybody to
know it's there. The market is turning. We're gonna take
a break here on the Business Happy How. We're going
to be back with Michael Peters from American heritage real
estate auctioneers. We're going to find out how that can
change your life in real estate. Stay tuned.
Speaker 1 (12:20):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts, your host
of the Business Happy Hour, Frankdbankkodo, Rosa Bihiti and Senia Akeishna.
Speaker 3 (12:31):
Hey, Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
By the way, I own a mortgage company called Lincoln
Lending Group. You can find me on Instagram, Frankdbankcoto dot
com or if you're interested in reverse mortgage or contacting
me reverse Guru dot com or contact Frankdbank dot com
and my favorite co hosts in the world, Senia and Rosa.
(12:53):
We have developed an amazing website. If you have any
real estate questions, I'd like you to go to their website,
which is.
Speaker 7 (12:59):
Real Deal Tampa dot com.
Speaker 4 (13:01):
I love it.
Speaker 3 (13:02):
The Real Deal Tampa dot com is super easy, probably
easier than my website to remember it to be honest,
So just go to the Real Deal Tampa and they'll
just bring you over to the Real Deal Frank easy enough.
Speaker 2 (13:12):
Phone numbers though.
Speaker 3 (13:13):
We do like to get phone numbers because a lot
of our listeners are listening early on Sunday mornings.
Speaker 2 (13:18):
So if they wanted to give you a call, what
do you think.
Speaker 7 (13:21):
Eight one three seven five five reel.
Speaker 2 (13:23):
That's easy.
Speaker 7 (13:24):
Trying to make ours a little bit easier.
Speaker 3 (13:25):
Yeah, they're driving, that's it, seven five to five reel.
And for us you can always just call it one
three mortgage, but seven five to five reel or eight
one three mortgage. And by the way, you're about to
hear about some serious auction business and this could change
your life if you're a seller, maybe if you're a buyer.
Speaker 2 (13:41):
And especially if you're a real estate agent.
Speaker 3 (13:44):
You may not realize, but right then, right show is
going to be very important for you as a real
estate agent, because I'm gonna let these ladies take it
away and we're going to learn how to do auctions.
We have the owner of American Herriage Real Real Estate Auctions, which,
by the way, very easy. It's American Heritage Auctioneers dot com.
Speaker 4 (14:02):
That's correct, correct, Yes, sir.
Speaker 2 (14:03):
American Heritage Auctioneers dot Com. I put it in Google.
It popped right up. You guys are doing good. By
the way on your.
Speaker 3 (14:08):
Se o over here, pulls up your Facebook over on
the side as well. It looked like but American Heritage
Auctioneers dot com. Michael Peters, Ben and Demi bene is
Pietrice right, Beatrice, Patrice Clo.
Speaker 2 (14:22):
I tried to get all fancy. It was close enough. Demi,
no chance. What's your last name?
Speaker 8 (14:26):
Demi?
Speaker 2 (14:27):
What is that again? It's Greek Basin? I love it. Yeah,
it is exotic.
Speaker 10 (14:37):
Right.
Speaker 3 (14:37):
It took me like four shows to learn Akishina. Don't
expect me throwing your last name out anytime soon. And
you know, Rosa, I got the.
Speaker 2 (14:44):
Vahiti, that's easy. What is Vahiti?
Speaker 6 (14:47):
By the way, So I'm half Iranian Persian? So my
father's and Iran and I have family over there.
Speaker 2 (14:54):
Have you been there?
Speaker 6 (14:54):
Not yet? One day?
Speaker 2 (14:56):
Probably not right now, yes.
Speaker 6 (14:58):
One day.
Speaker 2 (14:59):
That's just I want to see the pyramid. It's probably
right not right now, you know, but it's coming.
Speaker 5 (15:05):
Yeah, it's coming.
Speaker 2 (15:05):
See maybe maybe sooner than later. We'll see.
Speaker 3 (15:07):
We'll keep the politics off today. So Michael Peters, thank
you for coming in. Like the ladies and I were
talking to you before the show. This auction thing is
relatively new to us. I'm going to learn a lot
on Saturday. This show is going to air on Sunday.
All of our live listeners, I'm sure want to know
what the auction is all about. But beforehand, let's learn
(15:28):
about you. You have been in the business for a long.
Speaker 4 (15:31):
Time, pretty close to forty years.
Speaker 2 (15:33):
Yes, sir, I'd say that's a long time. So do
I yeah, yeah.
Speaker 4 (15:38):
So do I. Yeah.
Speaker 2 (15:39):
I'm trying to do my math. I mean that means
you were in this business.
Speaker 4 (15:41):
In the eighties, yes, late eighties.
Speaker 2 (15:44):
Savings and loans. Were you there when that was going on?
Speaker 4 (15:46):
When the RTC sales were going on?
Speaker 2 (15:48):
Oh, my gosh.
Speaker 9 (15:49):
As a matter of fact, that's about the time I
got into the business, and that's when I started interest
in the business. Was my father in law, Martin Higginbotham.
They his office in Lakeland was in charge of all
of the RTC sales.
Speaker 2 (16:04):
Oh wow.
Speaker 9 (16:05):
Yeah, but remember the RTC sales were properties that the
banks had owned, and they had hundreds of thousands of
them all over the country, probably millions all over the country.
Speaker 4 (16:14):
Yeah.
Speaker 9 (16:15):
And those sales we conduct are my father law conducted
in ballroom sales in Tampa and that was the only
way at that point to sell those properties. What were
the banks going to do with them? They had to
sell them with that method. But on the other side
of the coin though, at that time, my father in
law was also selling multimillion dollar homes that weren't free
(16:36):
and clear. So you know, the auction method works in
any type of sale, whether it's a distress sale or
if it's a sale where somebody wants to achieve a
good price and a solid transaction without any contingencies.
Speaker 7 (16:49):
Yeah, ask real quick. So RTC is that the same
as RIO?
Speaker 9 (16:53):
Well, well, no, what the government did back then, they
didn't want to say the US government is bailing out
the bank, so.
Speaker 2 (17:01):
They they didn't.
Speaker 9 (17:04):
No, they didn't want America to know back then they
were bailing out the banks and actually they were. So
what do they do? They hide behind the mask? They
started an institution called, or an entity called the Resolution
Trust Corporation. Now how far away from the federal government
is that.
Speaker 4 (17:20):
I didn't know what it was then.
Speaker 9 (17:22):
As a matter of fact, I don't even think my
father in law knew what it was then. I think
he really thought he was working for the Resolution Trust
Corporation because a year or so later, the FED sent
auditors in to look at his books and records to
make sure that everything was kosher, which, by the way,
they were super clean, no issues at all. But that's
when he found out that it was literally the US
(17:43):
government that was selling these homes. Wow, so that's what
our TC was.
Speaker 3 (17:48):
So you just answered a question that I was very
curious about. And that's how the heck did you get
into auctioning.
Speaker 9 (17:53):
I got into auctioning because my father law was doing
it and it was just a was a fun gig.
It was really fun. I watched him, I worked with
him without getting paid for about a year. I just
stood by his side and I watched and I listened,
and after the auctions we discussed what should have I done?
My father in law meaning, what should have we done?
(18:15):
What should have I done to make this better? There's
a few glitches here, a few glitches there. Next time,
this is what I'm going to do, and we try
to excel and make it every sale, even today, I'm
seventy two years old. Even today, every sale I conduct,
I go in knowing that I've left nothing unturned and
it's as good as it gets today. But when we
get in the car, and I think Ben and Demi,
(18:37):
we'll talk to you about it. Because we did Saturday
with the sale. What could have we done different to
maybe tweak it. We've got to be real critical about ourselves.
If we walk back and say, hey, great, we did
a great job. Good for us, We're probably gonna decline
in our performance. But to keep that performance up, we
want to really tweak it and be very critical on ourselves.
Speaker 4 (18:56):
And that's what we do.
Speaker 2 (18:57):
And you probably have now done that for forty years.
Speaker 7 (19:00):
Oh my gosh, that's great advice for anybody.
Speaker 4 (19:02):
It is, yeah, it is.
Speaker 3 (19:03):
But I was always wondering, and I never knew how
Michael got into the auction thing. I thought maybe it
was just a fluke. You were selling real estate and
you tried it out one day. But you're basically trained
by your family.
Speaker 9 (19:14):
I watched my father law do it, as I said,
and I didn't didn't. Although I had my license, I
did not conduct an auction for about the first year
that I was in the business.
Speaker 4 (19:24):
You know.
Speaker 9 (19:25):
He took it on and did it, but he stood
by his side, and I learned the good parts of it,
the bad parts of it, and what I've done over
the years when I combined the real tour method of
selling real estate with the auction method of selling real estate.
Speaker 4 (19:40):
You know, it was just like two or three years ago.
Speaker 9 (19:43):
When real estate agents were talking about, hey, we've got
multiple offers. Right, they go to the seller. We've got
multiple offers. Look, we got five offers in front of you,
Now pick which one you want. Had they gone ahead
and thought like I do with my process, they were
taking those five, taking the five buyers, brought them to
the sellers home in the living room, and then put
(20:04):
them against each other. Have a transparent sale. You want
to pay four hundred, will you pay four to twenty five?
Speaker 4 (20:11):
Yes? Will you pay four to fifty yes? And all
that happens the price goes.
Speaker 2 (20:14):
Up, And that, my friends, is an auction.
Speaker 3 (20:16):
And on that note, we are going to take a
quick break on our short segment here, We're going to
be back with Michael Peters from American Heritage real Estate Auctioneers.
Speaker 2 (20:22):
Stay tuned, we have more great news for you.
Speaker 1 (20:25):
Welcome to the Business Happy Hour radio show with your
host Frank the bang Kodo.
Speaker 2 (20:30):
President of Lincoln Lending.
Speaker 1 (20:31):
Group and eight one three mortgage for twenty years right
here in Tampa Bay joined by his incredible co host
Rosea Bahiti and Sinia Akishna, top producing real estate agents
with Mahara and Associates, these three bring nearly five decades
of experience in the local real estate market. If you're
looking for real estate or business advice, no matter what
your experience level, the Business Happy Hour team has been
(20:54):
there for you for almost a decade right here on
News Radio WFLA. Now, sit back, relax, and get ready
for some serious real estate and business talk with three
of Tampa Bay's top experts.
Speaker 2 (21:05):
Here's Frank the Bank.
Speaker 3 (21:06):
All right, Tampa Bay, welcome back to the Real Deal,
the Real Deal Real Estate Show. It's the Business Happy
Hour with the ladies who have the website called.
Speaker 7 (21:19):
Deal Tampa dot com.
Speaker 3 (21:21):
Some you so sometimes your eyes read something and your
brain says something totally different.
Speaker 2 (21:28):
Has that ever happened to anybody? No? Never, never, never,
never is okay?
Speaker 3 (21:33):
I was gonna call you News Radio w f l
A since it's like all I see behind mister Peters
over here.
Speaker 2 (21:39):
So thank you for tuning in listening.
Speaker 3 (21:40):
By the way, if you're on Instagram, like and share this,
get this out there for everybody to see. Real estate
auctions are absolutely awesome and it's not what you think.
Matter of fact, you can finance these. We're going to
talk about that a little later in the show, but
before the break, Michael Peters from American Heritage Auctioneers dot com,
by the way, UH started scratching on a word that
(22:01):
most real estate agents who have been in the business,
especially before COVID, have heard all too often.
Speaker 2 (22:06):
And it's said.
Speaker 3 (22:07):
The word is multiple offers. Maybe two words, multiple offers good.
Speaker 2 (22:12):
Word, bad word. I will tell you I think Michael
has a whole nother take on it, ladies.
Speaker 6 (22:17):
So multiple offers so you can work with you the
auctioneer house and auctioneers to list in any market, a
seller's market, a buyer's market.
Speaker 4 (22:28):
Yes, yes, yes, yes, it is correct.
Speaker 1 (22:30):
Yeah.
Speaker 6 (22:31):
So now that we're shifting more into a buyer's market,
this is still a great time to partner as realtors.
We can partner with you and advertise our listings that
way as well.
Speaker 9 (22:41):
Yes you can, and you still get paid commission. You'll
still get paid your commission.
Speaker 2 (22:46):
So what is a real estate agent?
Speaker 3 (22:49):
Is there anything they can lose by deciding to work
with American Heritage Auctioneers.
Speaker 4 (22:53):
Absolutely nothing. You have everything to gain.
Speaker 6 (22:56):
Yeah, it seems like it would really maximize your opportunity
to you get in front of even more people.
Speaker 9 (23:02):
Yes, that's great. And the really good thing is that
the contract for sale and purchase that our law office
craft is non contingent. So we don't ask for a
token two thousand dollars deposit with fifteen contingencies. So when
that buyer gets buyer's remorse, they bail out. Our contract
has no contingencies. We ask the buyer to put up
(23:24):
a five percent deposit and the balance is due in
cash within forty five days. But financing is available, and
financing we highly recommend using Frank Coto.
Speaker 6 (23:35):
Yeah, so that's a great point, and.
Speaker 4 (23:38):
Well he knows the process, that's what he needs to do.
Speaker 9 (23:40):
We can pre qualify so when you step up and
come to the auction, you're ready to go, so you
know that this is going to be funded.
Speaker 6 (23:47):
So I used to think that auctions are only for cash.
And so you're saying that you can be a financed buyer.
You can go to Frank the bank, you can get
pre approved through him first, and then you go to
the auction and you're ready to go.
Speaker 7 (24:00):
Yes, but on that note, can a buyer that's working
with a buyer's agent also participate like where.
Speaker 4 (24:07):
Yes, yes, speculations.
Speaker 9 (24:09):
Yeah, And as a matter of fact, Ben and I
were talking about that on our way over here. How
do we facility how are we going to facilitate that
with the new rules with posting. What is the buyer's
agent's commission going to be? How do we get that
out to people. We're trying to remedy that right now.
Speaker 4 (24:24):
As we speak.
Speaker 6 (24:25):
What are some of your thoughts so far? Ideas on that?
Speaker 4 (24:28):
Ben, you can take that, Well, we have.
Speaker 5 (24:32):
A form that we always have agents fill out if
they have a buyer and that specifies their buyer's agency commission.
We always had that in the attachments and we had
it on the MLS. Well, of course we can't have that,
so we're trying to come up with a way to
get that to them easily by either setting it up
on our website some other page. They can just click it,
(24:52):
download the form, fill it out. There's set. That's kind
of where we're at now. It seems like the easiest model,
right We're just kind of emailing them out. Agents will call,
agents will ask and we'll send them a copy. So
we're trying to trying to streamline it as much as possible.
Speaker 7 (25:08):
And the offers are asking the seller to cover the commission.
Speaker 4 (25:12):
Wow, like, well, here's the thing. Let me take this one.
Here's the thing.
Speaker 9 (25:17):
You know, over the years, throughout my career as a
real estate auctioneer, we have always had the buyer pay
the commission.
Speaker 7 (25:27):
And that's what I've known about those back when you know,
I've looked at auctions, you know, a few years ago.
Speaker 4 (25:31):
All the buyer's premium.
Speaker 9 (25:32):
Yes, yes, whether you're buying classic cars, fine art work,
antique guns, or real estate, there's always a buyer's premium charged,
and the buyer pays it. Seller does not pay the commission.
And actually that's what all the the issue is now
with the nar and the new ruling was who actually
did pay commission? The buyer or the seller. Has been
(25:54):
deemed that this seller, the seller doesn't pay the commission.
It's the buyer that does. So that's why we need
that disclosure. So we've always done that. We've always had
that the buyers paid the buyer's premium.
Speaker 3 (26:06):
So it's almost like they were twenty years ahead of
the game on So for you, it's like Okay, this
is business as usual.
Speaker 4 (26:13):
That's oh yeah yeah.
Speaker 9 (26:14):
And you know, back in the years ago, back in
the I forgot the early nineties, I had a satellite
office in a Remax office in Countryside. It was called
Remax Mutual and I used to say that too. I
used to talk about that commission structure to the other agents.
They never got it, they never understood what are you doing?
Speaker 4 (26:33):
But let me tell you what happened.
Speaker 9 (26:35):
When we would get a referral from an agent from
Remax and I would go to talk to the seller
with that agent, and I told the seller, well, now
you don't have to pay Remax five cents commission. There
is no commission out now. The buyer is paying commission.
Speaker 4 (26:51):
You're not.
Speaker 9 (26:52):
You're keeping the entire winning bid. The buyer's going to
pay the commission. In two seconds, that agent looked like
a hero yep, and I look like hero because hey,
you got me out of paying commission.
Speaker 3 (27:02):
That's amazing. So I want to we touched on something.
I'm actually gonna make a I've never done this. I'm
gonna make a video while we're doing all this video
and audio stuff real quick, because this question, I thought
was absolutely amazing that you presented in the in the
pre radio interview, and here it goes.
Speaker 2 (27:19):
Okay, guys, I have.
Speaker 3 (27:21):
Michael Peters here live on Instagram and on our radio
show The Business Happy Hour with Rosa and Senia over here,
and of course we have Ben and Demi as well.
Speaker 2 (27:30):
There's Michael. I wanted to ask this question on the
air as also we're going to create a real here
is about multiple offer situations. So when you're a real
estate agent and you're run into multiple offer situations. Michael
made a statement earlier that I want to put them
on the spot about it's when the realtors real tours
call you and ask you what are the other offers in.
Speaker 3 (27:51):
A multiple offer situation, and it seems like everybody just
says they won't tell you.
Speaker 2 (27:56):
What say you about that.
Speaker 9 (27:58):
Michael, Oh boy, I've I've been in that point with
As a matter of fact, my daughter maybe four or
five years ago, wanted to buy a want to buy
home and countryside and the agent told her, well, we've
already got a contract that I have I'm going to
submit it. And my daughter, because at that point she
worked with me, said well, if you let me know
what that amount is, I may do better than that.
(28:20):
And the agent said, well, we can't disclose that my daughter,
God love her and I love her.
Speaker 4 (28:27):
That's how what my dad said.
Speaker 9 (28:29):
There's no Florida statute that indicates and compels me to
keep quiet about an offer.
Speaker 4 (28:34):
And that is the truth.
Speaker 9 (28:36):
That's something that realtors why they say that, I don't
understand it. There is not a Florida statute that says
you can't disclose what your offers on the table is
to another potential buyer, because who do you work for?
You want that you want that seller to get the
most money for their for their home.
Speaker 7 (28:52):
I think ultimately agents that do know, you know the duties,
it's what the seller wants. So as long as the
seller is okay and they're saying nope, I want you
to tell them you know I have an offer for this,
can you beat it? Then we followed the instruction of
the seller.
Speaker 2 (29:06):
Why what sellar would it?
Speaker 1 (29:07):
Right?
Speaker 4 (29:08):
Were they unt?
Speaker 5 (29:10):
Let you explain correctly?
Speaker 4 (29:11):
Right? Right?
Speaker 3 (29:12):
So I I that to me that blew my mind
when we talked about that earlier, because that's that we
hear that all the time. So so taking a step
back into the auction, explain it how this Well, I
want you guys to explain what we have a whole
other segment a minute, but we still have three minutes.
Let's explain, like I guess the benefit of the auction
in these multiple offers ahead, Rosa, Yeah.
Speaker 6 (29:32):
So how long do you recommend that we? For example,
Frank is going to be having you auction off one
three one five Davis Road in thirteen ninety.
Speaker 3 (29:42):
Five Davis Road, thirty ninety five, dud Eden, Florida, dun In, Florida,
this Saturday.
Speaker 2 (29:47):
What time ten thirty ten o'clock ten.
Speaker 3 (29:51):
Ten am preview, eleven am is al thirteen ninety five
Davis Road, dune Eden, Florida, be there to buy this
house on auction?
Speaker 6 (29:57):
So how many days weeks did do you recommend to
Frank to list or have you start marketing it?
Speaker 2 (30:04):
What's the process?
Speaker 9 (30:05):
We recommend four weeks to market the product and a
week for us to do our due diligence because unlike
a sale that an agent would put together with a
fire by contract that has contingencies, we need to remove
those contingencies up front. So we need to have a
four point inspection done. We need to make sure that
(30:26):
the marketable title is there, We'll do an abstract, make
sure it's clear. We do all the due diligence upfront.
That takes about a week to get all that done,
and then we have four weeks of marketing. And Frank's
particular case, I was away the month of August, so
we had another I think we had two sales that
we're going to be in place of. I forgot what
(30:47):
the schedule is. We had to move him. His was
like a six week process.
Speaker 6 (30:51):
Okay, I really like that approach and being proactive and
getting all those things done upfront. So does the seller
pay for those things up front? Or how does that work?
Speaker 2 (31:01):
Great question?
Speaker 9 (31:02):
Yes, yes, yes, yes, yes, well the seller does pay
for that. What's what's a four point cost?
Speaker 4 (31:07):
One hundred and fifty hours? So get it out of
the way.
Speaker 9 (31:10):
Let let the buyers know what they're buying, and we'll
run an abstract of title because many times sellers don't
always tell you what's behind the scenes with their financing.
And then you know, then you go to the closing table.
Oh no, there's a second that that's delinquent or there's
a second I didn't know about her. Yeah, but I
owe my brother in law. You want to get that
(31:30):
all up front so that you know what you're walking into,
so you're not wasting your time.
Speaker 6 (31:34):
Yeah.
Speaker 3 (31:35):
Absolutely so I did buy those inspections. I did follow
everything Michael told me to do. We got a minute left,
I don't know have it's enough time to explain kind
of what is the strategy, how you you relist the price.
Speaker 7 (31:47):
Four week marketing?
Speaker 2 (31:52):
That's your prietary secret. Well tell you what.
Speaker 3 (31:55):
Well, when we get back from the break, I'll let
ben you and Michael kind of explain the process a
little bit from a seller perspective, and then we'll focus
in the last segment kind of on real estate agents
and what they should be thinking about this, because if
you are an agent, what I am hearing is he
is creating the he is creating the multiple offer situation.
He's creating it. And then you said something awesome in
(32:16):
the pre interview you and benon was about how you
get him all in the same room. Can you imagine
what it's going to do when when they actually see
and hear and feel the jerk next to him, who's
going to buy the house out from under him?
Speaker 4 (32:28):
Right?
Speaker 10 (32:28):
I want a lot of jerks at thirteen ninety five
day outad on Saturday, every jerk buyer, Come out there.
Speaker 2 (32:34):
Frank is selling this freaking house. Fight it Saturday morning.
Speaker 3 (32:37):
Be there, thirty ninety five Davis Road. We'll be back
in just a minute with American Heritage Auctioneers dot Com.
Speaker 1 (32:43):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts, your host
of the Business Happy Hour, Frank Thebangkoto, Rosa Bahiti and
Senia Akeishna.
Speaker 3 (32:54):
Hey, guys, welcome back to the Business Happy Hour, number one,
the show for all things business and entrepreneurial and real estate.
So if you have any real estate questions, you got
to go to the Real Deal Tampa dot com.
Speaker 2 (33:04):
Or you can call.
Speaker 6 (33:05):
Eight one three reel.
Speaker 4 (33:07):
That's it.
Speaker 2 (33:08):
Seven five to five are reel.
Speaker 3 (33:09):
Any of the mortgage stuff, just go to contact Frank
Thebank dot com. Easiest thing for you to remember, and
I'll give you a personal call. I love talking to
my radio show listeners. By the way, I can't make
every call obviously and for my company, but.
Speaker 2 (33:22):
When I see radio I call you.
Speaker 3 (33:24):
I actually want to talk to you because you always
bring very interesting scenarios to me.
Speaker 6 (33:29):
Right Rosa, Yes, we've had some nice callers.
Speaker 2 (33:32):
Yes, yes, yes, that's very interesting. That's why we're in
real estate. We like interesting. So, Michael Peters and Ben uh,
I think we need to talk financing real quick about
these about these auctions, and then we can kind of
go back and let the girls drilly on some of
those secrets.
Speaker 3 (33:48):
Maybe they can get a trade secret or two out
of you, maybe like the the big Mac recipe or something.
Speaker 4 (33:53):
I don't know. But how about their French fries? Are
they really made up.
Speaker 6 (34:00):
The answer to that?
Speaker 2 (34:01):
You know?
Speaker 3 (34:02):
You know they double fry him, right, that's what the
trick is, fry and freeze them, fry them.
Speaker 2 (34:06):
Try that crap at home anyway.
Speaker 4 (34:07):
Yes.
Speaker 3 (34:08):
And the McRib These girls have never eaten a McRib
by the way, so I told him as soon as
that I know, right, Ben.
Speaker 5 (34:13):
I've never met anything the first should.
Speaker 4 (34:18):
So.
Speaker 2 (34:18):
So Actually, which one of you was supposed to bring
the pumpkin spice? Who didn't? Was Rosa was supposed to
bring pumpkin spice?
Speaker 3 (34:25):
Lottes because I just came out, Demi, you look like
somebody you would like the pumpkin spice with us, right?
Speaker 2 (34:30):
We love those things?
Speaker 4 (34:31):
So uh?
Speaker 2 (34:32):
That and the McRib when they come out, I will
be bringing them in the studio and I told them
they have to have three bites, just three of these,
and they're not supposed to look at it. Don't lift
the butt, so.
Speaker 4 (34:41):
You don't want to.
Speaker 3 (34:42):
Don't those are Wait a minute anyway, Michael Peters, American
Heritage Auctioneers dot Com. I keep saying that, so you
guys know the website financing, so up until an hour, like,
I honestly didn't even know that I could have financed
the house that you're auctioning for me, because when Rosa
and Senny and I hear the word auction, it's usually
(35:04):
not synonymous with financing because we're used to the county
auctions and the city auctions. Ben or you want to
take that one and explain what your how does this work?
Speaker 5 (35:12):
I mean, you go to a city auction on the
county sept you don't know what you're getting, so you
can't finance it because you don't have a clear title. Right,
you have a full clear title when we're auctioning the home,
and the buyer will receive a warranty, deed, title insurance,
so it's financeable. At that point, you go to other auctions,
it could you don't know what's entailed into that title
(35:32):
work or anything. We that's why we check it right.
Speaker 6 (35:36):
All that you have that clean a point like you mentioned,
which is for binding insurance, so that helps with the
financing process.
Speaker 5 (35:43):
Clear title and and the seller is paying title insurance
right and you're getting a general warranty.
Speaker 4 (35:50):
Deed and you're paying the documentary stamps.
Speaker 5 (35:55):
Just like a traditional traditional me. But I say to
like your sales. When it goes with the closing, it's
the same, Well.
Speaker 3 (36:03):
How long do they have to close from the day
that they buy my house this Saturday question?
Speaker 4 (36:07):
Forty five days?
Speaker 2 (36:08):
Forty five days or four?
Speaker 3 (36:10):
So this is this right here is the crux of
the difference between a county auction and the auction through
American Heritage auctioneers is that you're actually signing a contract
and you're getting time to go get financing and closed,
which obviously Lincoln Lining can do for you. Where you
go buy from the county, what do they give you?
Is it twenty four hours?
Speaker 4 (36:29):
I think yeah?
Speaker 9 (36:30):
And you don't know what you're buying either, right, you
have no there's no inspection.
Speaker 4 (36:34):
Period, there's you don't even walk into the property.
Speaker 2 (36:36):
Right, or you know you don't on the title, right,
you don't know if there's if there's crap on the title.
But the point is if you have to be financed
and you don't have cash, you are not buying that auction.
Speaker 4 (36:46):
Right, right, right, right?
Speaker 2 (36:48):
So these auctions anyone can buy.
Speaker 4 (36:52):
Correct?
Speaker 6 (36:53):
Can you close sooner than forty four five days?
Speaker 4 (36:56):
Yeah?
Speaker 6 (36:57):
Okay, but you allow them for two weeks.
Speaker 5 (37:01):
We hold it in a week, will done?
Speaker 4 (37:04):
Absolutely?
Speaker 3 (37:05):
Listen, you want to bring me the money on Sunday,
I'll take one.
Speaker 2 (37:09):
Thousand dollars off of the highest price if you bring me.
Speaker 3 (37:11):
The money on Sunday, closing up Monday, Michael's gonna kill me.
Speaker 6 (37:18):
Enthusiastic seller you've ever.
Speaker 2 (37:19):
Met, Yes, he is.
Speaker 4 (37:20):
He's great to work well, thank you.
Speaker 3 (37:22):
And I do have a very enthusiastic wife who enthusiastically
told me that I need to.
Speaker 2 (37:28):
Enthusiastically sell this blanket house.
Speaker 5 (37:32):
And next Saturday.
Speaker 3 (37:33):
Yeah that's right, thirteen ninety five Davis Road this Saturday.
So if you're only on Instagram, if you're listening to
the radio show, don't go the next week.
Speaker 2 (37:41):
But if you don't see it sold, you better reach
out to Michael and I and we'll still sell it
to you. Don't work, but it's gonna sell.
Speaker 5 (37:47):
Or if you want to see what an auction process is,
you know, we we invite people to say, hey, if
you're thinking about your own house, come come see what.
Speaker 4 (37:53):
We do live. I love that, right.
Speaker 5 (37:55):
Clients just last week they're thinking about selling their four plex.
He said, why don't you come to our auction. That's
great next week.
Speaker 6 (38:03):
Yes, and I'm considering now putting one of my houses
because I think I'm going to sell one, and I
might go. Listen to Frank's please do.
Speaker 2 (38:10):
Because I my wife's like, please don't go to the auction.
I'm like, no, no, no, I want to go.
Speaker 6 (38:15):
Well, I think you'd be a good hype man for
your own house.
Speaker 4 (38:18):
Oh, no question.
Speaker 2 (38:20):
But should I say I'm the seller or not? Probably not.
I don't think that's a good idea. He might be
people uncomfortable, right, I keep that.
Speaker 7 (38:26):
Right to You're going to be the guy that's like, oh,
I'll do four fifty.
Speaker 10 (38:32):
Slightly unethical probably, but I tell you what I will be.
I'll be like, this house is freaking amazing.
Speaker 2 (38:38):
I would pay a million dollars for this thing. What
do you girls think and then.
Speaker 6 (38:42):
You girls have like pom poms and like it's the
best thing ever.
Speaker 3 (38:46):
So we got about a couple of minutes left. Michael
has been It's been a great show. Ben and Demi
thank you for coming and hanging. What uh what we've
got time?
Speaker 6 (38:55):
Like?
Speaker 2 (38:55):
What what else do we want to touch on about?
Speaker 3 (38:56):
Anything else you want to tell the listeners besides going
to American Heritage Auctioneers dot com.
Speaker 2 (39:00):
So you as an agent can sell your house or
as a buyer seller.
Speaker 5 (39:03):
Well, we didn't really touch on the realtor partnership. Yeah,
tell us and how we do that. We have a
lot of partner realtors. You stay with your own brokerage.
But let's say you have a house, one that you've
had on the market for a while, or maybe it's
a new one. You think, you know, this would be
a great auction property. You give us a call, We
take the whole process over. You still get your listing
(39:24):
side commission. We pay that out of the buyer's premium,
so your seller is not paying a commission and you're
you're within the whole deal. You just bring it to us.
We take care of everything you could. Actually, it's probably
the easiest real estate transaction you've ever done, because we're
going to do everything and you're still going to get
your listing side commission.
Speaker 6 (39:40):
Did you just say that the out of the buyer
agent commission that your fee comes out of that, So
the seller doesn't technically correct right, listing now right?
Speaker 2 (39:53):
So we blew right over that.
Speaker 3 (39:54):
But I will tell you, and we only got like
fifty seconds, got sellers and real tours you. This is
the When Michael presented this to me, I was very skeptical.
And when he showed it to me and explained to
me as a seller, I'm I have I control everything.
I make the final decision. I'm not paying anything besides
the inspections and stuff he asked me to.
Speaker 2 (40:13):
It is a freaking no brainer.
Speaker 3 (40:15):
If you're a seller or you're a real tour and
you want to get a property sold for a seller
who really wants to sell, you have to look into this.
Speaker 7 (40:22):
I think one thing you told me though, is you
have to be a motivated seller. I do have one
that I could so use help with, but unfortunately I
don't believe my guys.
Speaker 4 (40:30):
Realistic realistic realistic is a better word. Yeah, I did
say motivated, but you need both.
Speaker 2 (40:35):
Let's shows. Guys, it's been a great show. Michael, thank
you for.
Speaker 4 (40:39):
Coming, Thank you for having me here.
Speaker 3 (40:41):
Dennie, thank you for coming as well. And Ben, thank
you for all the great insights.
Welcome to the Business Happy Hour radio show with your host,
Frank the Bank Kodo, President of Lincoln Lending Group and
he won three mortgage for twenty years right here in
Tampa Bay, joined by his incredible co host Rosa Bahiti
and Senia Akishna, top producing real estate agents with Mahara
and Associates. These three bring nearly five decades of experience
(00:21):
in the local real estate market. If you're looking for
real estate or business advice, no matter what your experience level,
the Business Happy Hour team has been there for you
for almost a decade right here on news radio WFLA.
Now sit back, relax, and get ready for some serious
real estate and business talk with three of Tampa Bay's
top experts.
Speaker 2 (00:40):
Here's Frank the Bank.
Speaker 3 (00:42):
Hey, Tampa Bay, welcome back to the Business Happier Hour,
your number one show for all things business and entrepreneurial,
and today is no different. We have an amazing show
for you, a much anticipated show. Rosa Sinia and yours truly,
Frank the Bank have brought in the best auctioneer in.
Speaker 2 (00:59):
This data Florida.
Speaker 3 (01:01):
The owner of American Heritage Real Estate Auctions Auctioneers is
Michael Peters.
Speaker 2 (01:05):
Welcome, to the show.
Speaker 4 (01:06):
Michael, Good morning, Frank, thank you for having me.
Speaker 3 (01:09):
All right, We're gonna have a lot of fun with
you today. You also brought some of your amazing office staff.
We have a Demian Ben in studio with us as well.
How the two are you doing?
Speaker 5 (01:17):
Doing very well? Thank you today, Thank you so much.
Speaker 2 (01:19):
All right, thanks for both of you for coming.
Speaker 3 (01:22):
If you've never listened to the show before, it is
a fun filled, exciting show. We do like to talk
business and real estate, and today is no different.
Speaker 2 (01:30):
In studio with my amazing.
Speaker 3 (01:32):
Co host from Mahara and Associates, one of the top
real estate teams in Tampa Bay Mahara, mister Ray Mahara.
Speaker 2 (01:39):
We gotta love that guy.
Speaker 3 (01:41):
Might be the only guy that could possibly outwork me.
I don't know, ladies, but I don't know. Ray and
I are going to get ourselves in trouble one day
doing that by guys Sinia and Rosa with Maharan Associates.
Speaker 2 (01:52):
How you doing, Rosa?
Speaker 6 (01:53):
I'm good?
Speaker 3 (01:54):
Thank you and the two of your sharing of Mike
today because we have a big studio.
Speaker 2 (01:58):
Hyah so, Mike, ed we have three gas that's right
in today? How you doing?
Speaker 6 (02:04):
Hello?
Speaker 7 (02:04):
Hello? Wonderful to have you guys on.
Speaker 3 (02:07):
Thank you, Yes, and we are super excited because, you know,
for three of us industry professionals here, I mean between
the three of us, we probably have you know, well
over fifty years experience, and none of us have actually
dealt with a real estate auction in this capacity. So
we've been talking about this to put Michael and his
team on the spot, we've been talking about it for
a long time and we're really excited to do this.
(02:28):
But in kind of following the flow of the show,
we do like to talk about some some current mortgage
events and rates in SNYA with her stats.
Speaker 2 (02:37):
But before we go into that, I'm putting Rosa on
the spot.
Speaker 3 (02:40):
She offered us Chick fil A on the way in today.
Speaker 2 (02:44):
Would you have at Chick fil A?
Speaker 6 (02:45):
Okay? So I got some nuggets.
Speaker 2 (02:47):
Nuggets and that's it. That's so boring. Come on, they
have good nuggets, they do.
Speaker 6 (02:53):
I like to switch up.
Speaker 3 (02:54):
So have you all have y'all heard of like the
the healthy Chick fil A nugget hack?
Speaker 6 (02:59):
Have you heard of this getting grilled nuggets?
Speaker 2 (03:01):
That's half of it? Okay, I know exactly what is it? DEMI?
Speaker 4 (03:04):
What is it.
Speaker 8 (03:05):
So you do a grilled nuggie combo with a small
mac and cheese, and I take Texas p and barbecue
sauce and toss my nuggets in that and then put
it on top of my mac and cheese less than
six hundred calories.
Speaker 2 (03:17):
Oh my god.
Speaker 4 (03:18):
So yeah, but I do better than all you guys.
Speaker 9 (03:20):
Okay, I buy the kale.
Speaker 2 (03:28):
Okay, that's right, Brelander. You beat it to me. He
saw me over here, like looking forward. Here we go.
Speaker 3 (03:33):
Oh so Frank's hack is what Michael does, all right,
And that's funny because my son does the one that
you do.
Speaker 2 (03:41):
Demi.
Speaker 3 (03:42):
We do the grilled nuggets with the kale salad as
the side, and then we take buffalo sauce and we
dump the buffalo sauce on the nuggets. And I think
that one comes in at like four hundred calories, like
something crazy. So and it's really good. So it is
a business show. It's not a Chick fil a.
Speaker 7 (03:57):
Show, but good plug.
Speaker 3 (04:00):
It is a good plug. Shameless plug. Hey makes you
come see it's a chick fil A on Sunday afternoon.
We'll be there waiting for you. Genius business move though,
because doesn't that make you want it the next day.
Every time you drive you're like, oh, term you Chick
fil A.
Speaker 2 (04:15):
Anyway, So that's where Sundays.
Speaker 3 (04:16):
So yeah, I mean, well it's very it's Sundays.
Speaker 2 (04:22):
You're gonna meet you in the parking lot.
Speaker 5 (04:24):
Yeah, right, gets in from the next day, you meet
the day with the cow.
Speaker 2 (04:28):
Then I'm there the next morning, get in the freaking breakfast.
Speaker 6 (04:30):
And this is kind of like real estate too, and
what we're gonna speak about with the auctioning and having
that demand.
Speaker 4 (04:36):
Build up, you couldn't be more true.
Speaker 2 (04:39):
It could not be more true.
Speaker 3 (04:41):
So guys, when we get into this second second segment,
make sure you stay tuned because we're gonna find out
what is it now? What is the difference in this
type of real estate auctioning versus maybe the one you've
heard of when you go to the county or the
city and the courthouse and all that. I'll just kind
of tease it by saying, this is completely different. Uh,
just any realtor could could get involved in do this
(05:01):
with Michael and his team at American Heritage Real Estate
Auctions and you actually can finance these something that I
just learned this morning on our pre show interview.
Speaker 2 (05:12):
So we're going to talk about that. We're going to talk.
Speaker 3 (05:13):
About the multiple offer situation, how maybe setting up an
auction could be a better angle.
Speaker 2 (05:19):
We've got a lot of great.
Speaker 3 (05:20):
Other real estate ideas we're going to bring to you here,
so stay tuned. Speaking of the market, Sennia, do we
have some good news? I've seen a lot of negative
posts in the last week.
Speaker 7 (05:31):
You know what, That's actually what I was going to
talk to you about. Oh please, So we had a
friend that you know, send us this little snippet on
Twitter about how Florida's pricing are collapsing and you know,
mentioned Fort Lauderdale. So you know what I did is
actually went on the Broward County Realtor's website. I love
it to find out those numbers. Does not sound like
(05:51):
they're collapsing.
Speaker 2 (05:52):
No, no, oh, so what really is happening?
Speaker 7 (05:55):
Their median sale price actually increased four point two percent.
And this is again the year over year numbers, so
you know, from last July to this July, right, So
four point two percent increase to me does not sound
like they're you know, in the negative fourteen percent. Whatever. Well,
I don't know where people get this stuff from.
Speaker 2 (06:14):
But when I read those, it just makes me wonder.
Speaker 3 (06:17):
And Michael and Ben and all, you're all welcome to
chime in, okay, to any of our craziness we talk about.
But it just I have to think, like, what is
the motivation? Why are you posting this? I mean number one,
even if it's true, why.
Speaker 2 (06:30):
The hell are you posting it? But but the fact
that it's not true.
Speaker 3 (06:33):
You know, we saw something the week before that talked
about Hillsboro panelas in Pasco, which Sinnia, by the way,
is like the the best at stats in anybody I know.
She knows how to look them up. She looks at
month over month, year over.
Speaker 2 (06:43):
Year, and it's it's total bs. Yeah, like it's not sells.
Speaker 5 (06:47):
I think I think bad, bad, bad bad information sells
better but doesn't help you sell.
Speaker 2 (06:52):
No, No, not at all.
Speaker 7 (06:53):
No, it's different.
Speaker 2 (06:54):
Anywhere you tune in, they read the article, is that
what it is?
Speaker 5 (06:57):
My guess, that's my guess, or.
Speaker 7 (06:58):
Some people don't. They see little snippet like that on Twitter,
they're breaking.
Speaker 5 (07:02):
Out into the article tells the truth if they read it, and.
Speaker 7 (07:06):
People usually don't. And then you get these shares and
I think, my my husband's like send stuff from this
guy before too, And it's just these really blown out
of proportion articles about you know, what's going on, And
so I think it's just for the craze of it.
Speaker 3 (07:20):
Yeah, I think so too. It's it's it's like you said,
a bad things sell negativity.
Speaker 2 (07:24):
Cell headlines, bad headline.
Speaker 4 (07:25):
There you go.
Speaker 2 (07:26):
So you're your husband bad, bad mister, because.
Speaker 3 (07:32):
You got a real and her a wife and all
you're doing is pushing the people off the fence. And
that's really my that's my concern about it is it's
they're putting negativity out there, and then you've got people
are saying, oh, it's.
Speaker 2 (07:42):
Gonna be a crisis. It's look, it's happening, let's not
buy now, and everything's dropping. So you know what I do.
I steal those articles. I just started doing that.
Speaker 3 (07:50):
You might have seen my my Instagram posts, and I
learned how to do the green screen on the little
Instagram little thingy and uh, I put them bad article
behind on the green screen and I start calling.
Speaker 2 (08:01):
Them out like is that now bad?
Speaker 4 (08:04):
Right?
Speaker 3 (08:04):
I'm getting the benefit of the bad article and the negative.
Speaker 2 (08:08):
But I'm throwing the positive on there. Yeah, And I
think it works.
Speaker 5 (08:11):
Bringing the truth out.
Speaker 3 (08:12):
I'm bringing the truth out. So Samya, what else do
we have for some stats?
Speaker 7 (08:15):
Well, I mean, all in all, I still have our
July numbers that we've gotten over. I mean, I think
we're heading towards just a more stable market, right. You know,
it was crazy for those couple of years, you know,
but right now inventory is increasing. It's still not to
you know, a normal level where there's you know, that equilibrium, right.
You know.
Speaker 3 (08:32):
I have heard that multiple times this week that the
inventory does seem to be increasing.
Speaker 7 (08:37):
Yeah, and I mean that that's a good thing.
Speaker 2 (08:39):
Okay, I agree. I think more options, Ben, what do
you think?
Speaker 5 (08:42):
Oh yeah, inventory, it definitely has to go up. I mean,
that's going to bring the market up.
Speaker 2 (08:46):
Right, right, help helps me be more stable. I'm sorry.
Speaker 3 (08:48):
I've got the American Heritage Auctioneer website up on my
giant monitor in front of me, and I keep saying
we're going to get to this, Michael, But I keep
seeing the Bulsarian house off up millions of times.
Speaker 2 (08:58):
And if you're living in.
Speaker 3 (08:59):
Tam you everybody on the radio should know what the
balls arean house is. And uh, it's pretty awesome that
you were integral and in turning that house over and
selling that so very is I was we're going to
talk about that Rosa anything anything new that we have
on the real estate side.
Speaker 6 (09:16):
Well, I had someone ask me last week. Actually on
last Friday, I had four calls in one day, and
I think it's from people listening to our show and
just hearing different things, and they're like, when is a
good time to sell? So I'm curious what everyone's thoughts
are on that, and yeah, just a lot of I
think more activity is happening now with more calls from
(09:37):
potential buyers and sellers.
Speaker 4 (09:39):
I would say, good time to sell is now.
Speaker 7 (09:43):
Get you you need to sell your home and what
you're doing good time to sell?
Speaker 9 (09:47):
Well, well, think of what we just said. Inventory is
increasing now your property is competing with more inventory. You've
got a big cair lot filled with corvettes, right, what
do you do with them now? In the corvette case,
probably sell them all. But if they were all four trucks,
what do you do with them all?
Speaker 2 (10:06):
But it's it's it's a perfect supply today.
Speaker 4 (10:08):
Now is the time to sell.
Speaker 3 (10:10):
You're going to get more money for that corvette if
there's only one on the lot, right, then if there's
fifty on the light.
Speaker 2 (10:16):
Right.
Speaker 3 (10:17):
So, sellers, are you hearing what all the experienced agents
are saying?
Speaker 2 (10:22):
Right? Ben made a good point. You sell when you
need to right, right.
Speaker 7 (10:25):
And you buy when you need to and right now
is a good time to buy because you have more options, right.
Speaker 9 (10:30):
And you know you take with motivated sellers, with motivated sellers.
Speaker 6 (10:36):
You like realistic motivated seller.
Speaker 1 (10:40):
Right.
Speaker 2 (10:40):
So I am the definition of a motivated seller. We're
going to find out how.
Speaker 3 (10:47):
This oxygen thing goes, that's for sure. But I am
definitely a motivated seller, you know. That's that's the reason
that I got introduced to Michael Is. And it's something
brand new that we're going to talk about here when
we get back from the break.
Speaker 2 (10:57):
We got about a minute left.
Speaker 3 (10:59):
Let's uh, let's talk about something that I know it
hasn't I haven't mentioned this to you, so this is
new for all of us. Did you happen to see
my Instagram post about rates recently.
Speaker 6 (11:09):
Four percent va you locked in refinance?
Speaker 7 (11:12):
Oh?
Speaker 3 (11:14):
Social media works, by the way, guys man, not just
my radio go host who actually.
Speaker 6 (11:19):
I also reposted that and it actually did gain me
more traction. And I had my followers calling me as.
Speaker 3 (11:25):
Well, wow, thank you, and that works. And by the way,
that's what we do. We do what's called I'm gonna
lose my mind on what we call it Project mocking Bird.
Right every Thursday in my team, we take out some
exciting information and we all post the same thing. And
you have to think, if everybody has a thousand followers
and you have forty people on your team and everybody
posts the same thing, you just hit forty thousand people
and then they can do what you did and share
(11:46):
it out.
Speaker 2 (11:47):
And that's how you get the message out. Because unfortunately, our.
Speaker 3 (11:49):
News is not telling you that the rates actually went
into the fours this last week. We locked a four
point nine to nine VA thirty year fixed refinance.
Speaker 2 (11:58):
Right now, they paid a half of a point.
Speaker 3 (12:00):
Everybody's like, well, they're playing, they're playing points, so yeah,
if they paid a half of a point, guys, I mean,
come on now. Granted we're not making a ton of
money on that deal, but I just want everybody to
know it's there. The market is turning. We're gonna take
a break here on the Business Happy How. We're going
to be back with Michael Peters from American heritage real
estate auctioneers. We're going to find out how that can
change your life in real estate. Stay tuned.
Speaker 1 (12:20):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts, your host
of the Business Happy Hour, Frankdbankkodo, Rosa Bihiti and Senia Akeishna.
Speaker 3 (12:31):
Hey, Tampa Bay, Welcome back to the Business Happy Hour,
your number one show for all things business and entrepreneurial.
By the way, I own a mortgage company called Lincoln
Lending Group. You can find me on Instagram, Frankdbankcoto dot
com or if you're interested in reverse mortgage or contacting
me reverse Guru dot com or contact Frankdbank dot com
and my favorite co hosts in the world, Senia and Rosa.
(12:53):
We have developed an amazing website. If you have any
real estate questions, I'd like you to go to their website,
which is.
Speaker 7 (12:59):
Real Deal Tampa dot com.
Speaker 4 (13:01):
I love it.
Speaker 3 (13:02):
The Real Deal Tampa dot com is super easy, probably
easier than my website to remember it to be honest,
So just go to the Real Deal Tampa and they'll
just bring you over to the Real Deal Frank easy enough.
Speaker 2 (13:12):
Phone numbers though.
Speaker 3 (13:13):
We do like to get phone numbers because a lot
of our listeners are listening early on Sunday mornings.
Speaker 2 (13:18):
So if they wanted to give you a call, what
do you think.
Speaker 7 (13:21):
Eight one three seven five five reel.
Speaker 2 (13:23):
That's easy.
Speaker 7 (13:24):
Trying to make ours a little bit easier.
Speaker 3 (13:25):
Yeah, they're driving, that's it, seven five to five reel.
And for us you can always just call it one
three mortgage, but seven five to five reel or eight
one three mortgage. And by the way, you're about to
hear about some serious auction business and this could change
your life if you're a seller, maybe if you're a buyer.
Speaker 2 (13:41):
And especially if you're a real estate agent.
Speaker 3 (13:44):
You may not realize, but right then, right show is
going to be very important for you as a real
estate agent, because I'm gonna let these ladies take it
away and we're going to learn how to do auctions.
We have the owner of American Herriage Real Real Estate Auctions, which,
by the way, very easy. It's American Heritage Auctioneers dot com.
Speaker 4 (14:02):
That's correct, correct, Yes, sir.
Speaker 2 (14:03):
American Heritage Auctioneers dot Com. I put it in Google.
It popped right up. You guys are doing good. By
the way on your.
Speaker 3 (14:08):
Se o over here, pulls up your Facebook over on
the side as well. It looked like but American Heritage
Auctioneers dot com. Michael Peters, Ben and Demi bene is
Pietrice right, Beatrice, Patrice Clo.
Speaker 2 (14:22):
I tried to get all fancy. It was close enough. Demi,
no chance. What's your last name?
Speaker 8 (14:26):
Demi?
Speaker 2 (14:27):
What is that again? It's Greek Basin? I love it. Yeah,
it is exotic.
Speaker 10 (14:37):
Right.
Speaker 3 (14:37):
It took me like four shows to learn Akishina. Don't
expect me throwing your last name out anytime soon. And
you know, Rosa, I got the.
Speaker 2 (14:44):
Vahiti, that's easy. What is Vahiti?
Speaker 6 (14:47):
By the way, So I'm half Iranian Persian? So my
father's and Iran and I have family over there.
Speaker 2 (14:54):
Have you been there?
Speaker 6 (14:54):
Not yet? One day?
Speaker 2 (14:56):
Probably not right now, yes.
Speaker 6 (14:58):
One day.
Speaker 2 (14:59):
That's just I want to see the pyramid. It's probably
right not right now, you know, but it's coming.
Speaker 5 (15:05):
Yeah, it's coming.
Speaker 2 (15:05):
See maybe maybe sooner than later. We'll see.
Speaker 3 (15:07):
We'll keep the politics off today. So Michael Peters, thank
you for coming in. Like the ladies and I were
talking to you before the show. This auction thing is
relatively new to us. I'm going to learn a lot
on Saturday. This show is going to air on Sunday.
All of our live listeners, I'm sure want to know
what the auction is all about. But beforehand, let's learn
(15:28):
about you. You have been in the business for a long.
Speaker 4 (15:31):
Time, pretty close to forty years.
Speaker 2 (15:33):
Yes, sir, I'd say that's a long time. So do
I yeah, yeah.
Speaker 4 (15:38):
So do I. Yeah.
Speaker 2 (15:39):
I'm trying to do my math. I mean that means
you were in this business.
Speaker 4 (15:41):
In the eighties, yes, late eighties.
Speaker 2 (15:44):
Savings and loans. Were you there when that was going on?
Speaker 4 (15:46):
When the RTC sales were going on?
Speaker 2 (15:48):
Oh, my gosh.
Speaker 9 (15:49):
As a matter of fact, that's about the time I
got into the business, and that's when I started interest
in the business. Was my father in law, Martin Higginbotham.
They his office in Lakeland was in charge of all
of the RTC sales.
Speaker 2 (16:04):
Oh wow.
Speaker 9 (16:05):
Yeah, but remember the RTC sales were properties that the
banks had owned, and they had hundreds of thousands of
them all over the country, probably millions all over the country.
Speaker 4 (16:14):
Yeah.
Speaker 9 (16:15):
And those sales we conduct are my father law conducted
in ballroom sales in Tampa and that was the only
way at that point to sell those properties. What were
the banks going to do with them? They had to
sell them with that method. But on the other side
of the coin though, at that time, my father in
law was also selling multimillion dollar homes that weren't free
(16:36):
and clear. So you know, the auction method works in
any type of sale, whether it's a distress sale or
if it's a sale where somebody wants to achieve a
good price and a solid transaction without any contingencies.
Speaker 7 (16:49):
Yeah, ask real quick. So RTC is that the same
as RIO?
Speaker 9 (16:53):
Well, well, no, what the government did back then, they
didn't want to say the US government is bailing out
the bank, so.
Speaker 2 (17:01):
They they didn't.
Speaker 9 (17:04):
No, they didn't want America to know back then they
were bailing out the banks and actually they were. So
what do they do? They hide behind the mask? They
started an institution called, or an entity called the Resolution
Trust Corporation. Now how far away from the federal government
is that.
Speaker 4 (17:20):
I didn't know what it was then.
Speaker 9 (17:22):
As a matter of fact, I don't even think my
father in law knew what it was then. I think
he really thought he was working for the Resolution Trust
Corporation because a year or so later, the FED sent
auditors in to look at his books and records to
make sure that everything was kosher, which, by the way,
they were super clean, no issues at all. But that's
when he found out that it was literally the US
(17:43):
government that was selling these homes. Wow, so that's what
our TC was.
Speaker 3 (17:48):
So you just answered a question that I was very
curious about. And that's how the heck did you get
into auctioning.
Speaker 9 (17:53):
I got into auctioning because my father law was doing
it and it was just a was a fun gig.
It was really fun. I watched him, I worked with
him without getting paid for about a year. I just
stood by his side and I watched and I listened,
and after the auctions we discussed what should have I done?
My father in law meaning, what should have we done?
(18:15):
What should have I done to make this better? There's
a few glitches here, a few glitches there. Next time,
this is what I'm going to do, and we try
to excel and make it every sale, even today, I'm
seventy two years old. Even today, every sale I conduct,
I go in knowing that I've left nothing unturned and
it's as good as it gets today. But when we
get in the car, and I think Ben and Demi,
(18:37):
we'll talk to you about it. Because we did Saturday
with the sale. What could have we done different to
maybe tweak it. We've got to be real critical about ourselves.
If we walk back and say, hey, great, we did
a great job. Good for us, We're probably gonna decline
in our performance. But to keep that performance up, we
want to really tweak it and be very critical on ourselves.
Speaker 4 (18:56):
And that's what we do.
Speaker 2 (18:57):
And you probably have now done that for forty years.
Speaker 7 (19:00):
Oh my gosh, that's great advice for anybody.
Speaker 4 (19:02):
It is, yeah, it is.
Speaker 3 (19:03):
But I was always wondering, and I never knew how
Michael got into the auction thing. I thought maybe it
was just a fluke. You were selling real estate and
you tried it out one day. But you're basically trained
by your family.
Speaker 9 (19:14):
I watched my father law do it, as I said,
and I didn't didn't. Although I had my license, I
did not conduct an auction for about the first year
that I was in the business.
Speaker 4 (19:24):
You know.
Speaker 9 (19:25):
He took it on and did it, but he stood
by his side, and I learned the good parts of it,
the bad parts of it, and what I've done over
the years when I combined the real tour method of
selling real estate with the auction method of selling real estate.
Speaker 4 (19:40):
You know, it was just like two or three years ago.
Speaker 9 (19:43):
When real estate agents were talking about, hey, we've got
multiple offers. Right, they go to the seller. We've got
multiple offers. Look, we got five offers in front of you,
Now pick which one you want. Had they gone ahead
and thought like I do with my process, they were
taking those five, taking the five buyers, brought them to
the sellers home in the living room, and then put
(20:04):
them against each other. Have a transparent sale. You want
to pay four hundred, will you pay four to twenty five?
Speaker 4 (20:11):
Yes? Will you pay four to fifty yes? And all
that happens the price goes.
Speaker 2 (20:14):
Up, And that, my friends, is an auction.
Speaker 3 (20:16):
And on that note, we are going to take a
quick break on our short segment here, We're going to
be back with Michael Peters from American Heritage real Estate Auctioneers.
Speaker 2 (20:22):
Stay tuned, we have more great news for you.
Speaker 1 (20:25):
Welcome to the Business Happy Hour radio show with your
host Frank the bang Kodo.
Speaker 2 (20:30):
President of Lincoln Lending.
Speaker 1 (20:31):
Group and eight one three mortgage for twenty years right
here in Tampa Bay joined by his incredible co host
Rosea Bahiti and Sinia Akishna, top producing real estate agents
with Mahara and Associates, these three bring nearly five decades
of experience in the local real estate market. If you're
looking for real estate or business advice, no matter what
your experience level, the Business Happy Hour team has been
(20:54):
there for you for almost a decade right here on
News Radio WFLA. Now, sit back, relax, and get ready
for some serious real estate and business talk with three
of Tampa Bay's top experts.
Speaker 2 (21:05):
Here's Frank the Bank.
Speaker 3 (21:06):
All right, Tampa Bay, welcome back to the Real Deal,
the Real Deal Real Estate Show. It's the Business Happy
Hour with the ladies who have the website called.
Speaker 7 (21:19):
Deal Tampa dot com.
Speaker 3 (21:21):
Some you so sometimes your eyes read something and your
brain says something totally different.
Speaker 2 (21:28):
Has that ever happened to anybody? No? Never, never, never,
never is okay?
Speaker 3 (21:33):
I was gonna call you News Radio w f l
A since it's like all I see behind mister Peters
over here.
Speaker 2 (21:39):
So thank you for tuning in listening.
Speaker 3 (21:40):
By the way, if you're on Instagram, like and share this,
get this out there for everybody to see. Real estate
auctions are absolutely awesome and it's not what you think.
Matter of fact, you can finance these. We're going to
talk about that a little later in the show, but
before the break, Michael Peters from American Heritage Auctioneers dot com,
by the way, UH started scratching on a word that
(22:01):
most real estate agents who have been in the business,
especially before COVID, have heard all too often.
Speaker 2 (22:06):
And it's said.
Speaker 3 (22:07):
The word is multiple offers. Maybe two words, multiple offers good.
Speaker 2 (22:12):
Word, bad word. I will tell you I think Michael
has a whole nother take on it, ladies.
Speaker 6 (22:17):
So multiple offers so you can work with you the
auctioneer house and auctioneers to list in any market, a
seller's market, a buyer's market.
Speaker 4 (22:28):
Yes, yes, yes, yes, it is correct.
Speaker 1 (22:30):
Yeah.
Speaker 6 (22:31):
So now that we're shifting more into a buyer's market,
this is still a great time to partner as realtors.
We can partner with you and advertise our listings that
way as well.
Speaker 9 (22:41):
Yes you can, and you still get paid commission. You'll
still get paid your commission.
Speaker 2 (22:46):
So what is a real estate agent?
Speaker 3 (22:49):
Is there anything they can lose by deciding to work
with American Heritage Auctioneers.
Speaker 4 (22:53):
Absolutely nothing. You have everything to gain.
Speaker 6 (22:56):
Yeah, it seems like it would really maximize your opportunity
to you get in front of even more people.
Speaker 9 (23:02):
Yes, that's great. And the really good thing is that
the contract for sale and purchase that our law office
craft is non contingent. So we don't ask for a
token two thousand dollars deposit with fifteen contingencies. So when
that buyer gets buyer's remorse, they bail out. Our contract
has no contingencies. We ask the buyer to put up
(23:24):
a five percent deposit and the balance is due in
cash within forty five days. But financing is available, and
financing we highly recommend using Frank Coto.
Speaker 6 (23:35):
Yeah, so that's a great point, and.
Speaker 4 (23:38):
Well he knows the process, that's what he needs to do.
Speaker 9 (23:40):
We can pre qualify so when you step up and
come to the auction, you're ready to go, so you
know that this is going to be funded.
Speaker 6 (23:47):
So I used to think that auctions are only for cash.
And so you're saying that you can be a financed buyer.
You can go to Frank the bank, you can get
pre approved through him first, and then you go to
the auction and you're ready to go.
Speaker 7 (24:00):
Yes, but on that note, can a buyer that's working
with a buyer's agent also participate like where.
Speaker 4 (24:07):
Yes, yes, speculations.
Speaker 9 (24:09):
Yeah, And as a matter of fact, Ben and I
were talking about that on our way over here. How
do we facility how are we going to facilitate that
with the new rules with posting. What is the buyer's
agent's commission going to be? How do we get that
out to people. We're trying to remedy that right now.
Speaker 4 (24:24):
As we speak.
Speaker 6 (24:25):
What are some of your thoughts so far? Ideas on that?
Speaker 4 (24:28):
Ben, you can take that, Well, we have.
Speaker 5 (24:32):
A form that we always have agents fill out if
they have a buyer and that specifies their buyer's agency commission.
We always had that in the attachments and we had
it on the MLS. Well, of course we can't have that,
so we're trying to come up with a way to
get that to them easily by either setting it up
on our website some other page. They can just click it,
(24:52):
download the form, fill it out. There's set. That's kind
of where we're at now. It seems like the easiest model,
right We're just kind of emailing them out. Agents will call,
agents will ask and we'll send them a copy. So
we're trying to trying to streamline it as much as possible.
Speaker 7 (25:08):
And the offers are asking the seller to cover the commission.
Speaker 4 (25:12):
Wow, like, well, here's the thing. Let me take this one.
Here's the thing.
Speaker 9 (25:17):
You know, over the years, throughout my career as a
real estate auctioneer, we have always had the buyer pay
the commission.
Speaker 7 (25:27):
And that's what I've known about those back when you know,
I've looked at auctions, you know, a few years ago.
Speaker 4 (25:31):
All the buyer's premium.
Speaker 9 (25:32):
Yes, yes, whether you're buying classic cars, fine art work,
antique guns, or real estate, there's always a buyer's premium charged,
and the buyer pays it. Seller does not pay the commission.
And actually that's what all the the issue is now
with the nar and the new ruling was who actually
did pay commission? The buyer or the seller. Has been
(25:54):
deemed that this seller, the seller doesn't pay the commission.
It's the buyer that does. So that's why we need
that disclosure. So we've always done that. We've always had
that the buyers paid the buyer's premium.
Speaker 3 (26:06):
So it's almost like they were twenty years ahead of
the game on So for you, it's like Okay, this
is business as usual.
Speaker 4 (26:13):
That's oh yeah yeah.
Speaker 9 (26:14):
And you know, back in the years ago, back in
the I forgot the early nineties, I had a satellite
office in a Remax office in Countryside. It was called
Remax Mutual and I used to say that too. I
used to talk about that commission structure to the other agents.
They never got it, they never understood what are you doing?
Speaker 4 (26:33):
But let me tell you what happened.
Speaker 9 (26:35):
When we would get a referral from an agent from
Remax and I would go to talk to the seller
with that agent, and I told the seller, well, now
you don't have to pay Remax five cents commission. There
is no commission out now. The buyer is paying commission.
Speaker 4 (26:51):
You're not.
Speaker 9 (26:52):
You're keeping the entire winning bid. The buyer's going to
pay the commission. In two seconds, that agent looked like
a hero yep, and I look like hero because hey,
you got me out of paying commission.
Speaker 3 (27:02):
That's amazing. So I want to we touched on something.
I'm actually gonna make a I've never done this. I'm
gonna make a video while we're doing all this video
and audio stuff real quick, because this question, I thought
was absolutely amazing that you presented in the in the
pre radio interview, and here it goes.
Speaker 2 (27:19):
Okay, guys, I have.
Speaker 3 (27:21):
Michael Peters here live on Instagram and on our radio
show The Business Happy Hour with Rosa and Senia over here,
and of course we have Ben and Demi as well.
Speaker 2 (27:30):
There's Michael. I wanted to ask this question on the
air as also we're going to create a real here
is about multiple offer situations. So when you're a real
estate agent and you're run into multiple offer situations. Michael
made a statement earlier that I want to put them
on the spot about it's when the realtors real tours
call you and ask you what are the other offers in.
Speaker 3 (27:51):
A multiple offer situation, and it seems like everybody just
says they won't tell you.
Speaker 2 (27:56):
What say you about that.
Speaker 9 (27:58):
Michael, Oh boy, I've I've been in that point with
As a matter of fact, my daughter maybe four or
five years ago, wanted to buy a want to buy
home and countryside and the agent told her, well, we've
already got a contract that I have I'm going to
submit it. And my daughter, because at that point she
worked with me, said well, if you let me know
what that amount is, I may do better than that.
(28:20):
And the agent said, well, we can't disclose that my daughter,
God love her and I love her.
Speaker 4 (28:27):
That's how what my dad said.
Speaker 9 (28:29):
There's no Florida statute that indicates and compels me to
keep quiet about an offer.
Speaker 4 (28:34):
And that is the truth.
Speaker 9 (28:36):
That's something that realtors why they say that, I don't
understand it. There is not a Florida statute that says
you can't disclose what your offers on the table is
to another potential buyer, because who do you work for?
You want that you want that seller to get the
most money for their for their home.
Speaker 7 (28:52):
I think ultimately agents that do know, you know the duties,
it's what the seller wants. So as long as the
seller is okay and they're saying nope, I want you
to tell them you know I have an offer for this,
can you beat it? Then we followed the instruction of
the seller.
Speaker 2 (29:06):
Why what sellar would it?
Speaker 1 (29:07):
Right?
Speaker 4 (29:08):
Were they unt?
Speaker 5 (29:10):
Let you explain correctly?
Speaker 4 (29:11):
Right? Right?
Speaker 3 (29:12):
So I I that to me that blew my mind
when we talked about that earlier, because that's that we
hear that all the time. So so taking a step
back into the auction, explain it how this Well, I
want you guys to explain what we have a whole
other segment a minute, but we still have three minutes.
Let's explain, like I guess the benefit of the auction
in these multiple offers ahead, Rosa, Yeah.
Speaker 6 (29:32):
So how long do you recommend that we? For example,
Frank is going to be having you auction off one
three one five Davis Road in thirteen ninety.
Speaker 3 (29:42):
Five Davis Road, thirty ninety five, dud Eden, Florida, dun In, Florida,
this Saturday.
Speaker 2 (29:47):
What time ten thirty ten o'clock ten.
Speaker 3 (29:51):
Ten am preview, eleven am is al thirteen ninety five
Davis Road, dune Eden, Florida, be there to buy this
house on auction?
Speaker 6 (29:57):
So how many days weeks did do you recommend to
Frank to list or have you start marketing it?
Speaker 2 (30:04):
What's the process?
Speaker 9 (30:05):
We recommend four weeks to market the product and a
week for us to do our due diligence because unlike
a sale that an agent would put together with a
fire by contract that has contingencies, we need to remove
those contingencies up front. So we need to have a
four point inspection done. We need to make sure that
(30:26):
the marketable title is there, We'll do an abstract, make
sure it's clear. We do all the due diligence upfront.
That takes about a week to get all that done,
and then we have four weeks of marketing. And Frank's
particular case, I was away the month of August, so
we had another I think we had two sales that
we're going to be in place of. I forgot what
(30:47):
the schedule is. We had to move him. His was
like a six week process.
Speaker 6 (30:51):
Okay, I really like that approach and being proactive and
getting all those things done upfront. So does the seller
pay for those things up front? Or how does that work?
Speaker 2 (31:01):
Great question?
Speaker 9 (31:02):
Yes, yes, yes, yes, yes, well the seller does pay
for that. What's what's a four point cost?
Speaker 4 (31:07):
One hundred and fifty hours? So get it out of
the way.
Speaker 9 (31:10):
Let let the buyers know what they're buying, and we'll
run an abstract of title because many times sellers don't
always tell you what's behind the scenes with their financing.
And then you know, then you go to the closing table.
Oh no, there's a second that that's delinquent or there's
a second I didn't know about her. Yeah, but I
owe my brother in law. You want to get that
(31:30):
all up front so that you know what you're walking into,
so you're not wasting your time.
Speaker 6 (31:34):
Yeah.
Speaker 3 (31:35):
Absolutely so I did buy those inspections. I did follow
everything Michael told me to do. We got a minute left,
I don't know have it's enough time to explain kind
of what is the strategy, how you you relist the price.
Speaker 7 (31:47):
Four week marketing?
Speaker 2 (31:52):
That's your prietary secret. Well tell you what.
Speaker 3 (31:55):
Well, when we get back from the break, I'll let
ben you and Michael kind of explain the process a
little bit from a seller perspective, and then we'll focus
in the last segment kind of on real estate agents
and what they should be thinking about this, because if
you are an agent, what I am hearing is he
is creating the he is creating the multiple offer situation.
He's creating it. And then you said something awesome in
(32:16):
the pre interview you and benon was about how you
get him all in the same room. Can you imagine
what it's going to do when when they actually see
and hear and feel the jerk next to him, who's
going to buy the house out from under him?
Speaker 4 (32:28):
Right?
Speaker 10 (32:28):
I want a lot of jerks at thirteen ninety five
day outad on Saturday, every jerk buyer, Come out there.
Speaker 2 (32:34):
Frank is selling this freaking house. Fight it Saturday morning.
Speaker 3 (32:37):
Be there, thirty ninety five Davis Road. We'll be back
in just a minute with American Heritage Auctioneers dot Com.
Speaker 1 (32:43):
Now we're back with some serious real estate and business
talk with three of Tampa Bay's top experts, your host
of the Business Happy Hour, Frank Thebangkoto, Rosa Bahiti and
Senia Akeishna.
Speaker 3 (32:54):
Hey, guys, welcome back to the Business Happy Hour, number one,
the show for all things business and entrepreneurial and real estate.
So if you have any real estate questions, you got
to go to the Real Deal Tampa dot com.
Speaker 2 (33:04):
Or you can call.
Speaker 6 (33:05):
Eight one three reel.
Speaker 4 (33:07):
That's it.
Speaker 2 (33:08):
Seven five to five are reel.
Speaker 3 (33:09):
Any of the mortgage stuff, just go to contact Frank
Thebank dot com. Easiest thing for you to remember, and
I'll give you a personal call. I love talking to
my radio show listeners. By the way, I can't make
every call obviously and for my company, but.
Speaker 2 (33:22):
When I see radio I call you.
Speaker 3 (33:24):
I actually want to talk to you because you always
bring very interesting scenarios to me.
Speaker 6 (33:29):
Right Rosa, Yes, we've had some nice callers.
Speaker 2 (33:32):
Yes, yes, yes, that's very interesting. That's why we're in
real estate. We like interesting. So, Michael Peters and Ben uh,
I think we need to talk financing real quick about
these about these auctions, and then we can kind of
go back and let the girls drilly on some of
those secrets.
Speaker 3 (33:48):
Maybe they can get a trade secret or two out
of you, maybe like the the big Mac recipe or something.
Speaker 4 (33:53):
I don't know. But how about their French fries? Are
they really made up.
Speaker 6 (34:00):
The answer to that?
Speaker 2 (34:01):
You know?
Speaker 3 (34:02):
You know they double fry him, right, that's what the
trick is, fry and freeze them, fry them.
Speaker 2 (34:06):
Try that crap at home anyway.
Speaker 4 (34:07):
Yes.
Speaker 3 (34:08):
And the McRib These girls have never eaten a McRib
by the way, so I told him as soon as
that I know, right, Ben.
Speaker 5 (34:13):
I've never met anything the first should.
Speaker 4 (34:18):
So.
Speaker 2 (34:18):
So Actually, which one of you was supposed to bring
the pumpkin spice? Who didn't? Was Rosa was supposed to
bring pumpkin spice?
Speaker 3 (34:25):
Lottes because I just came out, Demi, you look like
somebody you would like the pumpkin spice with us, right?
Speaker 2 (34:30):
We love those things?
Speaker 4 (34:31):
So uh?
Speaker 2 (34:32):
That and the McRib when they come out, I will
be bringing them in the studio and I told them
they have to have three bites, just three of these,
and they're not supposed to look at it. Don't lift
the butt, so.
Speaker 4 (34:41):
You don't want to.
Speaker 3 (34:42):
Don't those are Wait a minute anyway, Michael Peters, American
Heritage Auctioneers dot Com. I keep saying that, so you
guys know the website financing, so up until an hour, like,
I honestly didn't even know that I could have financed
the house that you're auctioning for me, because when Rosa
and Senny and I hear the word auction, it's usually
(35:04):
not synonymous with financing because we're used to the county
auctions and the city auctions. Ben or you want to
take that one and explain what your how does this work?
Speaker 5 (35:12):
I mean, you go to a city auction on the
county sept you don't know what you're getting, so you
can't finance it because you don't have a clear title. Right,
you have a full clear title when we're auctioning the home,
and the buyer will receive a warranty, deed, title insurance,
so it's financeable. At that point, you go to other auctions,
it could you don't know what's entailed into that title
(35:32):
work or anything. We that's why we check it right.
Speaker 6 (35:36):
All that you have that clean a point like you mentioned,
which is for binding insurance, so that helps with the
financing process.
Speaker 5 (35:43):
Clear title and and the seller is paying title insurance
right and you're getting a general warranty.
Speaker 4 (35:50):
Deed and you're paying the documentary stamps.
Speaker 5 (35:55):
Just like a traditional traditional me. But I say to
like your sales. When it goes with the closing, it's
the same, Well.
Speaker 3 (36:03):
How long do they have to close from the day
that they buy my house this Saturday question?
Speaker 4 (36:07):
Forty five days?
Speaker 2 (36:08):
Forty five days or four?
Speaker 3 (36:10):
So this is this right here is the crux of
the difference between a county auction and the auction through
American Heritage auctioneers is that you're actually signing a contract
and you're getting time to go get financing and closed,
which obviously Lincoln Lining can do for you. Where you
go buy from the county, what do they give you?
Is it twenty four hours?
Speaker 4 (36:29):
I think yeah?
Speaker 9 (36:30):
And you don't know what you're buying either, right, you
have no there's no inspection.
Speaker 4 (36:34):
Period, there's you don't even walk into the property.
Speaker 2 (36:36):
Right, or you know you don't on the title, right,
you don't know if there's if there's crap on the title.
But the point is if you have to be financed
and you don't have cash, you are not buying that auction.
Speaker 4 (36:46):
Right, right, right, right?
Speaker 2 (36:48):
So these auctions anyone can buy.
Speaker 4 (36:52):
Correct?
Speaker 6 (36:53):
Can you close sooner than forty four five days?
Speaker 4 (36:56):
Yeah?
Speaker 6 (36:57):
Okay, but you allow them for two weeks.
Speaker 5 (37:01):
We hold it in a week, will done?
Speaker 4 (37:04):
Absolutely?
Speaker 3 (37:05):
Listen, you want to bring me the money on Sunday,
I'll take one.
Speaker 2 (37:09):
Thousand dollars off of the highest price if you bring me.
Speaker 3 (37:11):
The money on Sunday, closing up Monday, Michael's gonna kill me.
Speaker 6 (37:18):
Enthusiastic seller you've ever.
Speaker 2 (37:19):
Met, Yes, he is.
Speaker 4 (37:20):
He's great to work well, thank you.
Speaker 3 (37:22):
And I do have a very enthusiastic wife who enthusiastically
told me that I need to.
Speaker 2 (37:28):
Enthusiastically sell this blanket house.
Speaker 5 (37:32):
And next Saturday.
Speaker 3 (37:33):
Yeah that's right, thirteen ninety five Davis Road this Saturday.
So if you're only on Instagram, if you're listening to
the radio show, don't go the next week.
Speaker 2 (37:41):
But if you don't see it sold, you better reach
out to Michael and I and we'll still sell it
to you. Don't work, but it's gonna sell.
Speaker 5 (37:47):
Or if you want to see what an auction process is,
you know, we we invite people to say, hey, if
you're thinking about your own house, come come see what.
Speaker 4 (37:53):
We do live. I love that, right.
Speaker 5 (37:55):
Clients just last week they're thinking about selling their four plex.
He said, why don't you come to our auction. That's
great next week.
Speaker 6 (38:03):
Yes, and I'm considering now putting one of my houses
because I think I'm going to sell one, and I
might go. Listen to Frank's please do.
Speaker 2 (38:10):
Because I my wife's like, please don't go to the auction.
I'm like, no, no, no, I want to go.
Speaker 6 (38:15):
Well, I think you'd be a good hype man for
your own house.
Speaker 4 (38:18):
Oh, no question.
Speaker 2 (38:20):
But should I say I'm the seller or not? Probably not.
I don't think that's a good idea. He might be
people uncomfortable, right, I keep that.
Speaker 7 (38:26):
Right to You're going to be the guy that's like, oh,
I'll do four fifty.
Speaker 10 (38:32):
Slightly unethical probably, but I tell you what I will be.
I'll be like, this house is freaking amazing.
Speaker 2 (38:38):
I would pay a million dollars for this thing. What
do you girls think and then.
Speaker 6 (38:42):
You girls have like pom poms and like it's the
best thing ever.
Speaker 3 (38:46):
So we got about a couple of minutes left. Michael
has been It's been a great show. Ben and Demi
thank you for coming and hanging. What uh what we've
got time?
Speaker 6 (38:55):
Like?
Speaker 2 (38:55):
What what else do we want to touch on about?
Speaker 3 (38:56):
Anything else you want to tell the listeners besides going
to American Heritage Auctioneers dot com.
Speaker 2 (39:00):
So you as an agent can sell your house or
as a buyer seller.
Speaker 5 (39:03):
Well, we didn't really touch on the realtor partnership. Yeah,
tell us and how we do that. We have a
lot of partner realtors. You stay with your own brokerage.
But let's say you have a house, one that you've
had on the market for a while, or maybe it's
a new one. You think, you know, this would be
a great auction property. You give us a call, We
take the whole process over. You still get your listing
(39:24):
side commission. We pay that out of the buyer's premium,
so your seller is not paying a commission and you're
you're within the whole deal. You just bring it to us.
We take care of everything you could. Actually, it's probably
the easiest real estate transaction you've ever done, because we're
going to do everything and you're still going to get
your listing side commission.
Speaker 6 (39:40):
Did you just say that the out of the buyer
agent commission that your fee comes out of that, So
the seller doesn't technically correct right, listing now right?
Speaker 2 (39:53):
So we blew right over that.
Speaker 3 (39:54):
But I will tell you, and we only got like
fifty seconds, got sellers and real tours you. This is
the When Michael presented this to me, I was very skeptical.
And when he showed it to me and explained to
me as a seller, I'm I have I control everything.
I make the final decision. I'm not paying anything besides
the inspections and stuff he asked me to.
Speaker 2 (40:13):
It is a freaking no brainer.
Speaker 3 (40:15):
If you're a seller or you're a real tour and
you want to get a property sold for a seller
who really wants to sell, you have to look into this.
Speaker 7 (40:22):
I think one thing you told me though, is you
have to be a motivated seller. I do have one
that I could so use help with, but unfortunately I
don't believe my guys.
Speaker 4 (40:30):
Realistic realistic realistic is a better word. Yeah, I did
say motivated, but you need both.
Speaker 2 (40:35):
Let's shows. Guys, it's been a great show. Michael, thank
you for.
Speaker 4 (40:39):
Coming, Thank you for having me here.
Speaker 3 (40:41):
Dennie, thank you for coming as well. And Ben, thank
you for all the great insights.
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