Podcast - October 27, 2023

Listen to our latest podcast for the full scoop on finding your ideal listing agent! 🎙️
Looking to sell your home? 🏡 Make sure you've got the right listing agent with these essential skills:

1️⃣ Pricing Expertise: Don't fall for the highest price—choose an agent who backs their recommendation with data. 💰📈

2️⃣ Negotiation Skills: Selling can be emotional; trust a calm and experienced negotiator. 🤝😌

3️⃣ Problem Solving: Your agent should prioritize your success, addressing issues and finding solutions. 🛠️🤔

🏠 House of the Week: Explore this charming 3-bedroom rancher in Sharpsburg, MD, nestled on three lush acres. 🌳🏡 Featuring a spacious detached garage/shop, it's perfect for homesteading or enjoying peaceful country living. Schedule your private tour today! 🚗🗝️ #HouseOfTheWeek #CountryLiving #SharpsburgMD

Tom Whalen:

I'm Tom.

Jay Day:

I'm Jay Day.

Tom Whalen:

Jay Day and the Day Home Team of Real Estate Teams with our weekly real estate podcast. Jay, what's going on now?

Jay Day:

So as we're seeing the market change a little bit way back, well, not way back, but a couple months ago, I hate to say it this way, but it seemed like almost anybody could sell anything. So the skillset was sort of lacking of what was required. And now we are starting to get the phone calls from people who had their home listed, it didn't sell, or they are listed, they're unhappy with the agent. I had one the other day shocked me. They had fired their agent and they asked the agent what their marketing plan was, and the agent flat out said, I don't have one.

Tom Whalen:

He just thought, oh, there was a time when those things were just rolling out. Nobody really had to have any skill.

Jay Day:

And I was like, wow, I'm surprised. I said, he shouldn't have lied and made something up, but you would've assumed somebody would've made something up. So when we ended up meeting with them and showed them, because we send a book out in advance, an ebook, and then we give them our book and it actually shows our entire marketing plan, our strategy. It's a 25 page booklet that shows everything that we do. He was like, this is so different. And the funny thing was when he called, he's like, I should have called you. I listened to the radio station and I just didn't think you went this far out. And I'm like, oh, no, no, no, we do. Martinsburg is not too far out.

Tom Whalen:

Martinsburg's not. Well, that's right in our wheelhouse here.

Jay Day:

Yeah. Yeah. So good people. And so the thing is, when you're thinking about selling your house, and there's another person that I met with too that hired somebody else, and they did it based on them charging less money and they thought they were going to save. And what ended up happening was it was a nightmare. They ended up having to fire the agent. They said that, what is the word I'm looking for? The gimmicky thing that they used to get them to make the phone call.

Tom Whalen:

Yeah, the scam. Yeah, the angle.

Jay Day:

Yeah. It was not true. And actually this person actually filed a complaint with the real estate commission about this agent doing some false advertising.

Tom Whalen:

Well, as people, we should always act like this is the first time, the first time, nobody knows who I am. Nobody knows who you are. I've worked with Jay now for over 10 years, and the stories about other agents not getting it done, Jay and his team coming on board. And the difference, I'm sorry that we should emphasize that.

Jay Day:

Yeah, it is.

Tom Whalen:

I hear those stories all the time.

Jay Day:

And we had a lot for a period of time where we weren't getting those calls because pretty much everything was selling. But like I said, I'm starting to see more and more creep in where one, it's not selling or they feel like they were bamboozled because they were given a little bait and switch, of, hey, we'll do this for this. And then when it comes down to it, that's not really what it boils down to. And I explain all of this stuff to people. I'm like, here's the deal. As we get into it, real estate commissions are a hundred percent negotiable. There's nothing set in stone. And we have, there's two agents typically involved in a transaction. You don't have to pay the other agent a set amount of money. However, what we do is we go in, we look, we see what has been successful, what hasn't been successful, and we try to mirror that. So data doesn't lie. If you look straight at the numbers, take the emotions out, take the guesswork out, and just lay it all out on the table. And that's what I do. I'll say, alright, here are the 10 homes that sold. Let's look at what sold. Let's look at the interior. What did it look like? Let's look at what the cooperation, the commission they were paying a buyer agent. What does that look like? What does this look like? And then we go through and I say, okay, now you've been able to analyze all of this. What are your thoughts? What do you think would happen if we did this? Or how do you want to approach this? And I tell them, I have multiple opinions on how it can be done, but let's look at the data and see what you're thinking. And then I'll tell you my opinion based on the data. And most of the time we're on the same page. And the discounting stuff is not always the best thing for you. Because again, if people can't even respect their own profession to discount, do you think they're going to be a good negotiator to try and get you the best deal for your house? It's not going to happen. They can't even negotiate for their own. So do you think they really care about your money? Not really.

Tom Whalen:

Good point Jay. That's why.

Jay Day:

Not really. So now the bigger thing is, so what skills are you looking for when you're hiring somebody to sell your house? One is you need to deal with somebody who is skilled at problem solving. There's lots of nuances that come up in a real estate transaction. So I understand sometimes people want to help a family member, somebody at church, they just got licensed. Not knowing how to navigate through a real estate transaction and how to handle it can be very overwhelming. I mean, we had somebody recently that they wrote on one of our listings in Frederick County and the buyer, it was our listing. I was working for the seller. The buyer wanted to cancel, however they waived their ability to cancel with how the agent wrote the offer. And we pushed back. The seller didn't want to let them out. He wanted to do the repair that was needed. After lots of back and forth with the agent, I told my client, I'm like, okay, well here's the attorney we recommend you chat with. Then all of a sudden their person talked to an attorney and they had no way to cancel. They could have been forced to close the house. Long story short, everything got fixed, the buyer did buy. But we could have lost that buyer if I would've just said, you know what? They want to cancel. There's no reason to try to fight this. But having the experience and knowing and then saying, Hey, I'm not an attorney from what I see, I don't see a way out of this. Why don't you talk to the attorney we deal with? They'll give you legal advice. And once they did that, they lawyered up the buyer and the agent realized that they were going to proceed to closing, and they were going to get the repairs that were needed were going to be done. And the county had to sign off on everything. So having somebody that knows how to negotiate and navigate through things is extremely important. One of the other things too, a great negotiator, not just problem solving, but being able to negotiate and negotiation is not about, I hear people, oh, we'll just meet in the middle. Negotiations are not all about that. It's about finding a solution that both sides feel like it's a win. And a win doesn't mean you meet in the middle. A win doesn't mean that push back so hard that you get the buyer upset and they walk away. These are all skills that you need to have. And to me, one of the biggest ones is you need to have an agent that has a marketing plan. What is their strategy? I don't care if you say you've been in the business 10 years, if you've only sold 15 homes in 10 years, you don't have the experience. You may not have the budget to do the marketing, but get them to show you up front. We actually have in our listening paperwork, check boxes that show every single thing that we are going to do with marketing of a home. So there's never any confusion. We're like, okay, so we're going to have real video, not stitched video by stitched video is when people just put pictures together, put background music behind it, and they call it a video tour, but it's not really video.

Tom Whalen:

That's called a stitch video. Yeah, I didn't know that.

Jay Day:

So we lay all this out and we tell our clients, here's what we think you need. Here's what we think we are going to need to get this home sold. And then we do a comparison too. If we think something's not necessary, we'll tell them, Hey, we could give you, the commission could be a little bit less because we don't think we need to do these things. If you want, we can, but you're going to pay a little more. But our job is to do the best deal, the best we can, keeping as much money as your pocket as we can, but also not cutting certain marketing and exposure things that are going to limit your ability to get your home sold quickly for the amount of money that you want.

Tom Whalen:

Makes sense.

Jay Day:

Does that make sense? So I mean, if you're out there, you're listening to this and you feel like this is totally different, talk from what you've heard before or you were thinking about doing discounting, going with a discount agency or talking to someone who had some type of a gimmicky thing going on, reach out to us if it sounds too good to be true. It is. I mean, there's no, that's just how it works. And the funny thing is I tell everybody, I'm like, we do have a guaranteed sale program. We don't advertise it anymore because we don't need to. But if we feel that someone when we're meet with them, if we feel that that program could help them, then sure, we will do it. But the guaranteed sale is going to net you less money. We're taking on the risk. So I tell people, here's the situation. If you want, we can do this. I have no problem. I'll purchase your home for X amount of dollars and realize I'm going to end up doing some renovations, and then I'm going to sell it and I'm going to make a profit. And you're choosing not to make that profit yourself. Again, nothing hidden. No hidden agenda. And right now, again, we don't even advertise it, but remember that you've been doing our stuff for 10 years.

Tom Whalen:

Guaranteed. Yeah, guaranteed was the number one bullet point, but then

Jay Day:

The market changed. Yeah.

Tom Whalen:

Yeah. Things change. Yeah.

Jay Day:

Yeah. So like I said, if you guys have any questions about the whole selling process, and I don't mean wholesaling, sorry, the selling process or the buying process, you can reach out to us our websites dayhometeam.com. You can reach us at 866-702-9038. Just listen to the prompts. We have it go to different people on the team. If you're a seller versus a buyer, we feel that those are two different skill sets and not everybody is able to handle all sides of a transaction. So you'll select the right one, and there's no obligation, there's no cost to talk to us. We're here to try and give you information to help you make an informed decision, which makes the most sense for you and or your family.

Tom Whalen:

Got a home of the week.

Jay Day:

I do. 18617 Burnside Bridge Road in Sharpsburg, Maryland. This one is listed in the low fours. It is a brick rancher, has three acres, three bedrooms, two full bathrooms, a finished basement, concrete porch, a large 30x40 detached garage/shop. That garage shop actually also has running water and electric in it, which is great. The previous owners utilized it for processing their hunting, their deer meat and things like that. So it's all set up. You've got the stuff in there that you can connect. It's main level living. Again, because it's a rancher, solid wood doors throughout the home and three acres in Sharpsburg, they actually utilized a bunch of their land. When I went out there, they were telling me how many, they stopped doing this, but they were cultivating blueberry bushes. They had all types of different vegetation, of vegetables, fruits that they were growing, and it was perfect for it. They said they would give it out to the neighbors because they would have so much, they'd end up giving some to the community for those that needed it. So great property, main level living, pretty decent flat yard. And if you go to wfre.com, you can look up Tom and Jay's real estate podcast. You'll see photos of the home and the land. And if you like what you see, let us know. We can get you in for private tour.

Tom Whalen:

I'm Tom.

Jay Day:

I'm Jay.

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