Episode 09: Instant Offers

Tired of showings and endless negotiations? This week on the podcast we dive deep into Instant Offers!

Is it the magic bullet for a stress-free sale, or are there hidden costs?    We break down the pros & cons to help you decide if it's the right move for YOU.
This episode is for:

•    Sellers in a hurry (moving, etc.)
•    Those who prioritize convenience
•    People who want to ditch the selling hassles

Tune in to find out:

•    The potential trade-offs between speed and price.
•     ️How to choose a closing date that works for you.
•     When an instant offer might be the best option.

Hit play and let us help you navigate the world of instant offers!

Transcript

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you get to the point. We just like it's the bane of my existence. I. Yeah. You want to just get rid of it. know, there's a difference in the blue tape or that there's different types of paint or tape. You got to use the expensive blue tape to tape stuff off the. Lines and consistent. Yeah, it bleeds through and it's just like, oh my gosh, it's a disaster. I look back of the couple hundred homes that we purchased doing this over the last four years or so, 90% of them are folks that just wanted the convenience. They only wanted the easy process Gobi sway ear without a brylee. Like usual. And, today's topic is going to be instant offer, Yeah. Yeah or it's been a week. Yeah I yeah I've gotten a lot of those calls and talks from either team members or other agents on, in the marketplace. And they're like, and I look it up and it's like, well, it's been on for seven days or ten days or whatever. And yeah, I mean, I just did a market update just to talk about that real quick. I just looked at the data and we so Millard is a weird one for some reason. Listing inventory in Millard School District alone, this is all price ranges increased by 140% from previous from the previous month. Now this is that yeah this June. But this is this is technically May's data because we're always a month behind on getting that data. And, most Elkhorn, Papillion, Bellevue, you know, all the rest of the school districts as I was doing it by that, that that was probably like I think the biggest increase was like 30% increase in less inventory, might have a little bit more depending on on where it was. And then also we're seeing pending home sales are dropping. So March and April we saw a nice spike compared to the previous months obviously, but even the year prior at that time and but then you know what may is when the storms kind of happened around here. So that probably had an effect. I, you know, of course interest rates are always affecting that too. But we definitely may is when you started seeing this downward trend on sales, and I was just talking to a seller before this and, you know, in some areas there was as much as a 54% decrease in sales. So inventories climbing. So it's giving buyers more options. But there's definitely a lot of cold feet. There's buyer deals fallen through. And we've kind of dealt with that fall through what started two and a half years ago kind of when Covid market ended. you know, just buyers started realizing like, how should I be doing this with the higher rates? Is this the house or might be a better house they want to try to buy. So definitely higher fallout rate. But just overall there's more options and just not as many sales happening right now. And again is that because the storms happen then you had school getting out and then you have summer vacation. Families are getting used to that summer routine with their kids at home, figuring out what their kids are going to be doing and all that. which I think is pretty normal. it was just a bigger drop in home sales, pending sales that I think everyone is expecting. So what happens is sellers are starting to be like like I have a house. It's so it's a higher priced home for the market and it's been on for 18 days. So not too terribly long. But it's still, you know, you know with that you got to make sure you're communicating that with your clients and educating them of what's going on. And that's my biggest advice to any agent on our team or anyone is like, just educate your sellers of what's going on in the marketplace. And it's also good to educate your buyers, too, because you might be able to negotiate a better deal. My sellers too said, hey, bring us an offer. that's always a common thing I hear is like, why don't they just write an offer? Right? I don't actually have a solid answer for that. Like I wish buyers would just write puts up on paper, but it. feels more committed, like I gotta go through. Yeah. And then. And then. mad about the full through rate. Yeah. But then also to like, you know, buyers are like, well, you know, whether it's, they only want to work with motivated folks and or bring me an offer might be mean 10,000 to 1 seller and to that a buyer might mean 50,000 off. So that's the other hard thing to a buyer. Doesn't know what is their limit that they can do or can't do. And the seller's thinking the same thing too. so that's kind of what's going on the market. I, you know, I think it's always good to look at that and then educate your clients of what's going on there. but with that, I, a trend that I've seen for really the last like 4 or 5 years, and this has been a trend well before us is, you know, there's different terms. It's an offer I buy. If you ever heard the term I buy that is like an instant buyer is the way I look at that. And those are there's a ton of I buy companies. Even Zillow did it. What did Zillow call theirs. The just there it was there I buy programs. I. Buy yeah. they partner with another company. Yeah. But you know, they did it. And obviously that it didn't pan out too well for they lost like 500,000,001 year. So they kind of got rid of doing that. But And a lot of companies have jumped in and jumped out and realized, like, it's, you know, there are patterns and trends and like you said, not to stop your train of thought, but it this is all patterns and trends and they change all the time. And it depends on market conditions, rates, maybe storms, summer vacations, winter. Right. Like it. This isn't anything new. It's just a matter of like adapting and making sure the realtors are educated and clients are educated at that time. Because again, we might be talking something different in a month, Yeah, totally. Yeah. Well, that's why I was just telling my sellers, like we have unfortunately, just got to react in a market like this during Covid didn't matter. Everything was clearly trending up. So is just is different market. But now's a normal market to me. It's still technically a seller's market, and I think we're far from a buyer's market if you're looking at that type of data. But back to the insane offer. It's it's been around for a long time and actually I first ran into it probably ten years ago on a listing appointment, and I was on the listing appointment, and it was a very market ready home. It was like perfectly show condition. It was a perfect house to list. And he was in no sort of financial stress, nothing like that. And he goes, hey, Adam, you know those companies that are in town, they buy houses. I'm like, yeah, yeah, I know, I'm, I got some friends that do that as well. I think I'm going to sell to one of those guys. And I'm like, Brian, like, dude, you're you're you're literally throwing away like 30 or 40,000. From what I know, I could have netted him paying my commission. Netted him versus what he was already thinking he was going to sell his house to. And that was kind of like a little bit of an eye opener for me. And, you know, back then, I actually despise those guys. And I know there's a lot of agents that feel that way. They just they don't like those because they feel like, well, you're you're you're your clients leaving money on the table. Right. See. yeah. Like feel see. Yeah, totally. And but what I learned from that is he didn't care about the money. He cared about his time, and he wanted the convenience. He goes, I don't have to show it. I don't have to go through any inspections. Now, Gary, this was ten years ago, so it was kind of like that normal market. And it was he goes, it's just easier for my family. I get a close on it and then they're giving me like 30 days post closing to go move into my temporary house because he was going to be building a house, and he knew the deal was done. And it was super convenient because again, it wasn't about the money, it was about him having convenience and time back on his side. And now I still didn't do anything with that, even though it was an eye opener for me. Like, okay, this is clearly a competitor for me now. And dealt with it a few more times a time, let on. But then what, 4 or 5 years ago is when again, there's all kind of thrown our lap is more and more people because we used to do and we still do it. Technically your home sold guaranteed will buy it. And that is we list the home if it doesn't sell after a certain time. And generally we do six months now during a shortened market, we can make that into a 30 day, a 60 day, 90 day, whatever. It's all part of us talking through it. you and the client agree to the terms, yeah. always case by case. correct. It was always, you know, now our buyout price did not equal the listing price. there was a the discount in there. I call it a convenience fee, but, so by us doing that for the last 15 plus years, people just started coming to us and served saying, hey, like, would you just buy this from us? Like right away? Yeah. Before listing it. And I started getting asked that more and more and I'm like, maybe we should do something with this. Clearly other companies do this and they do it well, I didn't really I was I that always on the riskier side, but I didn't necessarily want to start buying like, ten plus houses a month. Well, fast forward and we were. Rentals and stuff like. That. Yeah. You know. Yeah. I mean, owning rentals. Stacy, if you ask Stacy, she is not a fan of rentals really at all. Now we have rentals and I keep pushing her to get more and more. But, you know, there's a lot of work. you know, there's a lot of information out there. And I'm going to digress a little bit, but like, if you're an investor and you're a first time investor, I would always encourage you to go try to wholesale slash or flip a house versus go buy a rental necessarily, because you're not getting rich off a rental, you know, especially with interest rates right now, unless you're putting a large sum of money, cash flowing is pretty rare right now. Now, during Covid, when interest rates were really low like that, that was made it a lot easier. so again, like people started coming to us more and more. So we kind of made it into a thing, and we made it a whole separate business of offering this insane offer. And if I look back of the couple hundred homes that we purchased doing this over the last four years or so, 90% of them are folks that just wanted the convenience. They only wanted the easy process they did not want to deal with just like the Brian story. They did not want. They wanted it easier for their family. They don't have to deal showings. They wanted to be able to close on it, maybe have a few days or a month to move out at their time frame and didn't have to deal with inspections, appraisals or any of that. And that is most of what we're doing. Like, I just bought one here and I closed on it here in a couple of weeks. it's an older couple. They're actually past clients, mine. And, they knew I did this. And, it's always the last option I give them. I always push for listing, listing it after you fix it up, listing it as is, maybe listing it with a few updates. And then the very last on the totem pole is me purchasing it. And you're very, like, straightforward. Like, this is what it would be for this. This is Yeah, they know. They know. Without a doubt. They will make more money by putting it on the market, listing it, paying our full commission versus me buying it. They know that. And again, the folks I just bought, I'm not gonna say their name because they are current client and currently under contract, but, I came in and I purchased it, and because. they, They asked you. Sorry. They asked you about it or did you bring it up to them So they ended up bringing it up. but any more? A lot of times I end up bringing it up as a loss option just because I found that they end up asking anyway. So I just try to get ahead of it and bring it up anyway. Yeah, but there are a lot of times, like if I go list a house, I'm like, hey, this is a house. You definitely list. Like I did another one in Bellevue. Great family. It was actually house. I flipped. Stacy did like two three years ago and they bought it from us. We weren't there. So I thought this was interesting. Well, they've reached out to us and said, hey, we know you know the house better than anyone. Can we talk about putting it on the market? But we definitely made it very clear from the get go, we want to talk to you about you buying it back from us. Right. Okay. They're moving out of state and, now this house is like, perfect, pristine condition. I mean, not only did Stacy do an awesome job remodeling it, but also they have amazing furniture. Like, they. It's like you walked in a Pottery Barn. And her. I mean, that's every agent's dream to have a listing like that because, you know, it's going to go on. The market's going to sell and you will probably get a good price. And but the problem is sometimes the comps don't always support that higher price. Like very calm. Yeah. Very commonly. we sell our flips for more than what the market will bear because it's done up so much nicer than all the rest of the comparables. And buyers will pay for that because they don't have to do it. And we'll talk about remodeling and cost of remodeling here a little bit too. But but again, like them as well, they're just like they say, they just did not want to deal with showings. They were moving into a different, smaller town. They wanted to get some more small town living on a little acreage. And they just they wanted to avoid the hassle of having a deal, showing it. They both work from home. So that was a factors. Yeah, that was a factor. So it was pure convenience. And he said upfront like, I know I'll take a haircut on this because and on that one I didn't even pay him. I didn't even buy it for what they bought it for me from. But the reality is, you know, if you go sell your house after two years. Start to make. It's. Yeah. And in normal market during Covid that didn't really apply. Right. It hardly ever applied. But you know, in a normal market generally, what is it like 3 or 4 years before you catch up to appreciation paying real estate agents their fees and title fees, escrow fees and all that? and then paying the course of paint on your loan to pay on what kind of loan you got to, so them selling after two years? Yeah, they took a little bit of a haircut, but again, and I actually beg them, like, guys like, you need to list this house like this is a great house. The list, they're like, no, we we would much rather go down the path of you purchasing it. and then then the other folks I just bought there they were. Their house was a little bit more dated. It's clean, but again, they're moving out of state. They're doing a big move, like total East Coast and, they, they didn't want to stress out about when's it going to happen because they, they see a homes in their neighborhood sit on the market longer, too. There's no that you're looking at you know, 3060 days is still fairly quick. But people have forgot that, like, you know, 90 days plus is not the end of the world. Yeah, I mean, most homes are sold within 60 days. I would say for sure on the higher price range ones. But normally, I mean, I there's always an outlier. But like I feel like most of our listings sold within three weeks, if you really look at it, that's why I, I was kind of giggle when people say, oh my gosh, this isn't selling. It's been a week. but yeah, it's it's total convenience. And then when I buy them, I, we come to a agreement on price and generally on that, like when I'm presenting that if I'm like $30,000 away from hitting the number that they're hoping to get, I generally will go to and say, hey guys, I can't get your number. And I, I and I told this up from like, if I'm too far apart, I'm not even going to present something because I don't want to tick you off. I don't want to create this bad vibes. It's just I know what the numbers have to be in order to make sense and ask. Them what their numbers. I always try, but most of them come to me and say, hey, we're really trying to get this out of it, knowing that we're selling it to you like this. And then I 100% of the time, I've never been to their number. Yeah, sometimes I'm real close. because people always want more than what you can give them and you're Yeah, okay. And I never paid more. Now, there was one case, actually, if I think about it, we're doing one with Alec where we ended up paying her $5,000 more than what she wanted, because we looked at the numbers and we showed her the data. Here's everything. Like we fill up this number. This is a more fair price because as a real estate agent, you have to make sure you're not. I care about my reputation, where I don't want to be known as the guy that's gouging everyone, and then they can come back and sue us later on, right. so that's why we are very like upfront on everything, showing them the info and then putting things in our contract to make sure that, they understand, like by you not putting the home on the market. You're, you're potentially leaving money on the table. To make money. Yeah. Like the goal for us is to make money. and now I can't remember how we got sidetracked on that. I was going somewhere with that, but, but, you know it's okay. So you have you have today's market will say starting to normalize when you say that for a couple of years. But we're starting to see more people coming back to, you know what are your options are services that you can provide. And I feel like if if I wanted to, for example, I wanted to get, a coffee, I have the ability to get my car and drive there or have the ability to order on an app, or I have the ability. So if anything, it's we can list your house, we can prevent a cash offer or an instant offer, and we can provide, like you said, some fixed, some repair. So it's just an additional option or service that we do provide. Yeah. Yeah, it was it wasn't necessary. And before we go into the other teams doing this to the thing that we do too, is if a home needs fix up and they have the available funds to do that, we will help line up all the repairs, everything. I mean, there's time. I don't like to really flat out go and say, I'll do this, but, there's times where I'm paying the bill and then they're paying me back at closing. but a lot of times, if they have the cash to do it, they approve the bid and they and if maybe they don't like the bait, like we'll get another contractor in the day to bid it out, and then they approve it and they're, they're the ones paying it. We're just basically playing the role as the middle person to help facilitate making it easier to transact and like that white glove service. but yeah, because again, it's just to try to make everything as convenient as we can for clients. And that's the rule. We always would rather have them do. But again, on the instant offer, we figure out price and then we figure out time frame. And that's a huge benefit for them. And then the other thing I tell them too, is like anything you don't want to take with you, leave it and I'll deal with it. I'll donate what I can. I don't sell any of it because it's never worth our time to do that, although there is some good treasures on some of that stuff. But we still, and I've always donated and the rest of it goes under a dumpster. And I mean, that's just the reality of it. And, like, I. all right, I, I was going to say, how fast can they get that offer. Like, is that part of the convenience as you meet them on a Monday and you, you could potentially close on the next Tuesday or Wednesday or Well. So generally what we do is I meet someone on a Monday. By Monday night or Tuesday I have an offer to then and then then the timing is like really up to them. It's do they want to close it in two weeks, three weeks, four weeks, six weeks? I will generally do up to about a month of post. I commit c rent free. Okay. So you close on it, but then still let them live there. So they have money in their bank and that part's done. They don't distress about that. That money's in their bank. And then all they have to do is focus on getting moved out and get it on their next place. Like I have one right now. I had one in Gretna where they had three weeks post occupancy. they it was a divorce situation. So one was actually Lacey sold him a house, sold him a house, and then she was going to another property, I think a rental. And she she's the one that needed more time to get moved out. So he had his money so he could go buy his new one. And then she had her money to where she could just go hire movers and do the things she needed to move in. Now they left a bunch of stuff in the house and that's fine. actually, I think we already got most of it out. one in Bennington right now. Same thing. She's moving out of state, and she just she wanted the convenience and she is doing probably a week post occupancy. I I don't think a lot of people do the post occupancy. knowing like that's an uncommon thing. Yeah. yeah. I don't know that I, I don't know if a lot do that or not. I again, we just try to do it to make it easy for them. Yeah. sure, like, a lot of the times, the biggest drawback I was seeing was, was generally you, you have to follow their rules and you have to get out kind of in their time frame. Some of the national ones, not necessarily local, but first for you to allow you want to provide convenience. You live in this community. You're going to see these people again. A lot of these national people will come in and they'll never see them again. So they don't care Yeah. what the experience is like. Well, the other thing too, with the national companies that I've noticed is these folks will get offers from those national companies, but they haven't seen it technically yet. So they get the offer. And generally their offer is more than what I could pay for it. But it's what happens is it's sight unseen and they have escape clauses in there. And so then they get within weeks of the closing table and because of their, their, contingencies that they put into the contract, they have the right then to back out and cancel the contract. So now those sellers are back to square one, where if I give an offer, I'm committed, it's done. And now if they come to me and said, hey, I no longer want to sell it to you, can can we cancel this contract? I would do that all day long. Contractually. Legally, I wouldn't have to. But it's also my reputation I'm looking out for. So they ever wanted to be like, absolutely no different than a listing. If someone wanted to cancel a listing with me because they had a change of heart or whatever, never been fired, knock on wood. But if they they. Serve this cheap. Job. Yeah, whatever job change or last kid moved out and they decided they want to stay in their house, whatever. yeah, we would cancel the listing contract, but same thing goes if I'm buying it too. But again, it's all for the convenience to have them moving out on their own time. And I found that's where, I always find it interesting the amount of people that are electing to go with that option. Now, I would say the only bottleneck with that right now is what is the house worth versus what I feel it is worth. So that's sometimes a disconnect. And that's. people look online and they think their house is worth, a lot more than what they probably know it is. That's generally what it is. and then also, you know, I guide a seller, for example, just say, hey, they're like in the mid 70s, this was a mid 70s house. And they just there was a house. They don't have a pool. Well there was a house that just sold for 75. I'd had an in-ground pool, same house plus a pool. Was there a lot. And. Yeah. And yeah. And pools are in demand. Ever since Covid happened, people wanted started wanting pools and you know, so it's like, well, we can't really compare your house to that house because they had an in-ground pool. I mean, let's go put a pool in. These days you're spending 80,000 plus and then you have landscaping and all this stuff. So, you know, it's a big difference. Doesn't mean that's how much less your home is worth, but it is worth. Less And pool contractors? The last time I checked, sometimes they're out a year to a year and a half. Yeah, yeah, getting it anytime soon. totally. So, so there's sometimes that disconnect and then also being able to again figure out like and then you know, with us like we just decide like we will push in on prices for sure. Like meaning I'm going to use simple numbers here. Let's say my offers 175. And they really were wanting 200. And if I look at it and I'm analyzing I'm like okay. And they're like, I'm not moving off of 200. And if I look at it, analyze it, and there's times where I'm like, is this a risk I'm willing to take? Could it be a good rental? and I just did this on one actually, or they wanted 200 and I was probably like 180 range. But I decided at the end of the day, you know what? I'll pay the 200 because it's going to make for a good rental for me. I didn't steal it, I didn't, I didn't I probably actually, I probably got it for market value. but I felt like, you know what? I got it, I secured it's going to go into our rental portfolio and it'll be good. So there are times where I push that and go above what I normally would do, but there is sometimes a disconnect there where I just can't bridge that gap till. the first barrier normally is price. Yeah. What's your what do you think is the next thing that kind of like. The next bottleneck is just is finding the opportunities if you're talking from the investor side is like there's just not as many of them. And as for someone that wants to build their rental portfolio or flipping, it is harder to, find those those deals are harder and harder to find. Like you're not getting the smoke and deals anymore. That's that's gone. And as I talk to other investors that just do this, they, you know, where they would normally have 20 in their pipeline, they're down to like 2 or 3. That's a big difference. 2 or 3 maybe where they were 20 for sure is an hour or 2 or 3 maybes. Well and think about this. You're employing contractors, right. You're employing people's jobs livelihoods. Right. Like it's not like yeah. It's not like you again. You're not like just trying to load up all this cash and and you're, you're like off to the bank, right. Like you've got contractors to worry about. Again, rentals is a major in demand thing right now because of the cost. And again, some people can't afford to buy a house. And the rental market is a great opportunity to provide people a great housing option, right, that can't afford to buy a house. So you're doing great work on both sides if you really think about it. Again, you're not in this to screw people over doing anything wrong. But that's a big deal for contractors, too. That would probably get nervous. Wall. Yeah, even with us like we we have slowed down on the remodel stuff. So then our contractors potentially have to go find they were they were working exclusively with us. Well now they got to go find other work potentially. And then you're you run the risk. So there's times where I'll just buy a house to give them a project to keep them busy, even though I know I'm like, I'm probably not gonna make any money. I might lose money on this. But lose more money honestly if you didn't have contractors. Yeah. Because then if they go elsewhere, then I can't have them come on to our future jobs where there is an opportunity for us to make money. and so and that is like that world too, is very tough because the cost to remodel a house five years ago versus today is. About that. Isn't it's double. That's it. Yeah. It's it's in my opinion it's double the cost of the goods. The cost of the product PVC piping, the electrical, you know, the outlets, all that stuff has gone up. And then labor cost has gone up too. Having a problem. Oh yeah. Totally. Like we have some guys there like, I mean, even our lawn guy who runs an awesome operation and he's like, it's hard to compete because of companies like, let's use Kiewit, for example. Big, big company. if they're paying$80,000 salaries plus benefits, that's really hard for the smaller, long guys are smaller contractors to compete. Where to get good work because those those jobs are available for those types. Or they can go flip burgers for $21 an hour. Yeah. So now they've even our lawn care has increase in pricing too. Because they have to because they got to pay their guys more to be competitive. so and even like someone that's considering remodeling their house when we talk numbers. They have a number in mind of what they think they can get it remodeled for. And like if you meet with a client you're saying correct, and they have the money to do it and they think they have a $20,000 budget, let's say. Yeah. Generally in that situation, like normally you're going to spend 40 to 50 is what I found to to do the things that we want to go through. Because they still think it doesn't cost that much today to do that. Yeah. If you have a remodel, a house and last five plus years and most of them haven't remodel the house really ever, they just have this a sump or they've done a Google search. Yeah. And it's like, well that's you know, the reason why a lot of these mass builders, for example, can get houses built for the cost that they can is because they're doing it on a mass level. They have they're buying things at a mass production. So they're getting those discounts. Well, the normal everyday person, myself included, we're not doing enough to where you're going to get those huge discounts. So and that's your everyday person. And so yeah, remodeling a house, it always costs more money. Like to go paint a house. For example, let's say you 63, you're easily spending six to do or more. The paint's more expensive. The labor is more expensive. and then you've got to watch out for quality too. You might get the cheaper guy to do it, but then you're like, are you going to have to redo everything you just did? Because the paint job is horrible, where, you know, it's they missed a ton of spots. But yes, you can touch that back up. Like their paint lines, their pad, their got paint all over the tile or wood floors because, you know, there's a difference in the blue tape or that there's different types of paint or tape. You got to use the expensive blue tape to tape stuff off the. Lines and consistent. Yeah, it bleeds through and it's just like, oh my gosh, it's a disaster. Or and or like the folks that just try to do it themselves, that's like always like, hey, if you don't know how to tile, I wouldn't, I would never go tile. Like my lines would be like this. My ground lines would be fast, skinny, they'd be all over the place and it would just like, look like crap. And then a buyer comes in, they're like, okay, you put a new tile, but I got to redo it all, you know? So yeah. And that's that whole disconnect is is hard too, because then you got to educate clients and prospective sellers on that. And so we're kind of talking about two different things. They're not only does it affect us on how we buy because we know what it cost to do these things, but also so that affects the price. But it also on this, if you're listing it, you got to make sure you're prepping. I'm like, hey, if you were to do this, this, this and this increase your price, it is going to cost you more money than you're probably thinking. Now, what I have found is if you go spend 30 where maybe you're thinking it's going to cost you a ten, 15. It cost you 30, you can still generally go resell that house for an extra 50. Because people will notice the difference. And people want a great looking product. They want the like you said earlier, the Pottery Barn, if you will. But like the clean lines, the nice colors, the great palette, like people will pay a little bit extra for that, Yeah. you know? So I mean, there is something to be said if you hire it out and you hire the right people. And then something I thought about too is like, if you have those contractor relationships, it is a little bit easier for them to pick up your phone call than me or let's say Andy over there, call somebody, right? Well, that's another thing I found to is on like an are group of contractors. I'm not going to give any names, but what I found is I would say I would go with firm business assuming they would take on the business. But what I found is and I didn't even this wasn't even it. This was actually Aubrey's husband told me this and I'm like, that is a great thing. And then I went and talked to these contractors like, they're like, this is 100% true. It's one thing to go work on a vacant house. No one's there. No one's watching their every move. It's comfortable. They can go in there, do their own thing. put their jams on? They drink, they go out. They don't care. Yeah, they do whatever they want. And if you're in a client's home, they are living there. They operate differently. It's almost like they feel uncomfortable. And so a lot of times they don't even want to. If the job's too small, they really don't want to take it. And then if they have to kind of tippy toe over other folks that live in the home, they're like, yeah, we would much rather work on a vacant flip house than a client's house where they're being lived in. And the other thing is, when you're working for a client, you don't necessarily know how they work. How picky are they going to be? Are they going to do a bunch of callbacks? Are they going to be unrealistic of expectations, or are they going to try to add more things in there and keep the price the same? Where like if they're working with someone consistently, like, say, Stacey, then they know how she operates. They know she pays her bills on time. Like there's no like a 30 day waiting period for people. Correct? And they get their money on time. They know how she operates. They they know what her expectation is and she has a high expectation, but they know it. They don't know what a loose cannon client, you know offense anyone. But like how how will that operate to and then and we can have candid conversations with them and they're okay with that because they it's a, it's a more of a mutual respect, comfortable conversation where a lot of clients, what I found is they almost talk down to them. It's like, well, you're all we're all the same people, right? I mean, we're all like human here. So, you know, you can't talk down to them because you're paying them, right? Like, so I know that has definitely been you know, I found that interesting. And that was actually something we did a party here and he was we were talking about it, and Joe was like, I bet that's a reason. I'm like, should I talk to? I'm like, yeah, that is that is the reason. So a lot of them like, hey, we prefer they don't even refer us off. Like if we just keep busy with you. That's cool. Okay. yeah. Well, and the other thing too, like this is this is just a site then. But this kind of goes for like a potential someone selling, but also anyone that's like thinking of investing. They're not all wins. And I can give you probably more examples than I would like to admit. on losses like we did a flip together. We lost, what, $50,000. To think about it. But you know, that's a yeah, that's a big loss now. You know, thankfully we had enough wins to outweigh those losses. But that's a big loss. And you never know when your next losses Stacey and I we bought one here not too far from us. We were going down the path. Well this city gets involved. It's in a floodplain. You got to jump through all these hoops with FEMA and the city. It's been sitting vacant for six months. Like we can't touch it. And then you, you know, you get to the point. We just like it's the bane of my existence. I. Yeah. You want to just get rid of it. And that's kind of where Stacey came to is like, I'm done with this project. I don't even want to think about it anymore. Well, we just sold it. We lost $138,000. So again, we didn't go into it thinking we were gonna lose. We actually thought this was going to be a good win for us. And, and and you know, and the reason why we found out the windows were shop. Windows are. Not cheap. Windows were not cheap. we had to do massive foundation work because so much of it was hidden. Then when you get the drywall off, it's like, oh, wow, that foundation is I mean, it was literally bowing and probably almost a foot, I mean, massive I mean, you could see the dirt through the block foundation. And so, you know, you come into the things like that. Yeah. So yeah, fast forward I was 138,000 or loss, which is supposed to be closing here soon. So I be looking forward to that one. But it's like any investment some investments you win Yeah. Yeah. It's like all the. all wins, we would all do it. Yeah, totally. I mean we did another one two where I bought it had a in-ground pool and he had a contractor. Yeah. This was like five, six, seven years ago come and say, oh I can repair all this for like six grand. So I'm thinking my head is okay. It's going to cost me eight grand to repair this. Well, fast forward got, a couple different pool contractors out there and there and people I trust, and they're like, that would be a Band-Aid. That would be a short term Band-Aid. So me thinking like, I'm going to resell this. So now I'm passing on this Band-Aid cool to someone. I'm in it for sure. Get the call back. So I made the decision to rip it out. Well, it's in Bellevue, and whenever you rip out a pool, you got a pool permit, and $25,000 later, the pools out, and then you got to put saw it in. And now I'm going there like almost every day to make sure the water fill it. Right. Well, yeah. Then you had to bring dirt in. That was included in the 25,000, but then you had sod on top of that and then and, and then the watering cost because you got to soak it with water. yeah. But you know, that one we went from, we thought we were going to make some okay money on it. And now we're like, we're making less money. If we were flipping burgers at Burger King on the. So yeah. You know, again, they're not. And again, those are, those are just a couple of the recent losses I have right now. But between I mean you're talking this is the examples we talked about over$200,000 in losses right there. Yeah. That's that's tough. Like you just you know no. And that's but you always have to process that when you're looking at it at any potential investment. So because with you just really quick like with an instant offer, I want to make sure this is clear because I feel like, you know, again, it's we jumped all over the place. None. No appraisal, no inspection. Some. It's my visual inspection. I'm in the. House. A lot of people have no idea what the state of their house is in. Like, yeah, because they haven't done an inspection forever, you know. you buy it basically as is instantly for whenever they want to close. Sometimes they stay afterwards, let's say at no cost. But when you say instant offer, I mean you literally give them an offer that night. They can essentially close, we'll say, in a week or two weeks, like you said. And then they have the ability to leave and that's when you repair, slash, tear it apart and find out what you're going to find because you don't do any tearing apart Now. So that's interesting. Yeah. Yeah. And back on the team stuff here to finish out like it is. You know there's a lot of big teams that are really going I mean obviously we've done it for a while and our team knows. And that's actually how we get a lot of our instant offer buys is the team just knows this. So they they give it as a solution and a lot of the purchases we've done actually all the pending ones other than two right now, the two that are relocating out, they bought another house and in a market that's somewhat competitive, still considered a seller's market. Most sellers don't want a home sell contingency. Not taking away. And and then sometimes they want you that listing agent counters back say, hey, we want the home on the market in two days. Well, no one can go effectively list the house in two days and do it the right way. You got to make sure you get good pictures at stage. It's it's tidied up so it doesn't look like crap. It's show a ball. Yeah. And he knows all about that. together and it'll look good. Yeah. So this is an option if they have a house that they really want and it's identified. Well. And if that seller is not willing to take a home sell contingency, well this is that solution. and is a great solution because you're still paying them a good rate and they can drop that contingency and keep their dream house. Let's just say that yeah yeah that's a big deal. yeah. And that's and so I that is really that's probably the biggest reason why we want to do this and keep pushing it out there is because it does offer a great solution for that. And the people that want convenient switch the instant offer where they're going to go buy someone's house, that's again, that's a convenient thing to know. They don't have to scramble to get their house ready because they're already stressed about purchasing. That's a big step. And then they got to worry about selling their house, too. That's another big step. Prepping your house for sale is a lot of work, so this is avoiding eliminating that stress of prepping your house. If you want to successfully sell your house in today's market, you still have to be a showcase type home, like you have to present yourself very well to stand out about, especially with increased inventory. Totally. There's more options out there. You got to stand out. And if you have animals, you work from home. Think of all the times. Let's just say you get 15 or 18 showings. Yeah. Yeah, you know? Yeah I mean and and on that too. Like I do find it interesting how some of these larger teams that we know and you network with a lot to where they're definitely going in that direction more. And it's to me they're doing it because it's, they're they're doing it to offer it's part of their white glove service. Right. Like it's just a it's just another funnel to not only could be an income producer for them down the road, but also it's a way for them to to move more product. Yeah. And sell or hunt. Yeah. Well yeah that's why I pay more sometimes than I probably should. But Yeah. Because you want to make sure they provide a good service. And if you let's just say for that example, let's say it's $10,000 more than you wanted. Right. But you might have a repeat client, somebody happier. They moved out right. Like and they know when they're moving into a house that you have renovated or flip that you're not cutting corners Yeah. Yeah. you know. Roy and two in Tulsa. I know, but I do think this is important, too. is the other thing that we do is we work with listing agents. So say, if there's a house, like, there's a lot of agents in this marketplace that know that we purchase homes and they know that we pay more than your average investor. So I have agents I'm not going to say who, but like, they're at different brokerages, they'll call me up, say, hey, I know you buy my houses. Can you come over and look at this house? They're they they don't want to do it. I'm in not I'm in no position. I'm in. No. Or whether they are not in a financial position, they just they're out of that. Like they're maybe they're a little older. They just don't deal with it. Right. they, they come in, we negotiate a price, they still get their commission. So I don't take a commission on the buy side. They get their normal listing side commission. The seller knows it, and then I buy it. And so And that's also unique Adam. Because people aren't doing that. I'm just telling you like the national guys or the bigger people that are coming in, they're not doing that. Yeah, They're just basically taking the sale. And now the listing agent is out of money. Yeah. Or you know, they'll go there would be they go sell them something else. But they're not always buying something else to sell. Yeah that's. But yeah, we always make a point like hey if you have a listing agent because we send out mailers and it, you know, if they have an agent like, hey, we'll work with your agent all day long, we don't we don't want to get a bad, bad rep in the agent community there to host still real estate agents Yeah, Yeah. So you would never want to have a bad reputation. Yeah. Totally. So again, the point of us talking about this was, number one, to make sure you guys knew that we did do this, I think for real estate agents is like, I think, any real estate agent should always look at potentially buying homes for investment properties. Again, you got to figure out where you're at. If you're not making a certain amount yearly, you should probably not do rentals necessarily. But, it could be a great solution for your clients to do this. You can always reach out to us. I can kind of tell you how I've done it. and we even talked about the banking side of it too, but that's a whole nother conversation. But, you know, so it's it's a great tool, great solution for your clients. great opportunity for you to pick up investment properties as a real estate agent. And then for the public, it's just a great solution to avoid hassle. Sure. You know. not losing out in your dream house, if you have a home sale contingency or working around your time frame not having strangers coming in your house right? Like and just providing we have a service for you. Yeah, totally. So yeah, hopefully that makes sense. Guys, thank you for listening and let me know. Let Colby know if you guys have any questions.