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We bring the dealio! Creators of Exotic Real Estate software and re-mapping how Real Estate is purchased & sold. With a zoo of experience we discuss, agents, clients, iBuyers, trends, nothing is safe, we hash it all out here for your knowledge and entertainment.
Episodes
Wednesday Jun 01, 2022
Wednesday Jun 01, 2022
Welcome to the iBuyer Experiment...
Is the Real Estate Market Cooling Off? | The iBuyer Experiment - Stop & Chat #50
On this episode of The iBuyer Experiment Eliot, Keith, Kala and Jason talk their thought on whether or not they thing the housing market is starting to cool off and give some interesting input on the lack of inventory in the United States.
You're not going to miss this interesting & informative episode of The iBuyer Experiment Podcast!
Wednesday May 11, 2022
Wednesday May 11, 2022
Welcome to the iBuyer Experiment...
Is Your City Overvalued in the Housing Market? | The iBuyer Experiment - Stop & Chat #49
On this episode of The iBuyer Experiment Keith, Kala and Jason talk about the top ranked cities in the United States that are considered to be overvalued right now when it comes to the housing marker.
You're not going to miss this very interesting & informative episode of The iBuyer Experiment Podcast!
#ibuyers #realestate #housingmarket
Wednesday Apr 20, 2022
Wednesday Apr 20, 2022
Welcome to the iBuyer Experiment...
Is Gary Keller the Scapegoat of the Industry? | Stop & Chat #48
On this episode of The iBuyer Experiment Eliot, Keith, Kala and Jason got had... there were a bunch of "leaks" in the podcast room it's okay though they're actually kind of cute ;) Best quote of the podcast "Way to go, such a wise little leak." Big topic today, is Gary Keller the "Madonna" of the real estate industry. We'll leave that for you to decide! The crew also gets into rent being so high nowadays and different options buyers have for their new home purchase.
You're not going to miss this very interesting & informative episode of The iBuyer Experiment Podcast!
#ibuyers #realestate #garykeller
Tuesday Apr 05, 2022
Tuesday Apr 05, 2022
Welcome to the iBuyer Experiment...
Recession-Proof Your Home | Stop & Chat #47
On this episode of The iBuyer Experiment Eliot, Keith, Kala and Jason break down their thoughts on the panic and chatter surrounding a possible recession. First things first, they do not think a recession is happening sometime right around the corner by any mean... but in the event that it was right around the corner, what would you do to "recession-proof" your home?
You're not going to miss this very interesting & informative episode of The iBuyer Experiment Podcast!
Tuesday Mar 29, 2022
Tuesday Mar 29, 2022
Welcome to the iBuyer Experiment...
60-minutes does a segment on iBuyers & the Zoodealio team breaks it down along with breaking down different situations and news real estate related.
Join Eliot, Keith, Kala & Jason on this newest episode of the iBuyer Experiment, the podcast that has the real estate industry talking!
Brought to you by "Zoodealio" where every agent is an iBuyer
Tuesday Mar 22, 2022
Tuesday Mar 22, 2022
Welcome to The iBuyer Experiment...
Big headline alert... "Is Big Tech Coming for Your Commission?" Mike DelPrete, a leading researcher on iBuyers, breaks it down on his Inman article. Side note, in case you were wondering, he loves peaches.
Breaking down the landscape of the real estate market a bit, certainty and convenience, this is the number one thing sellers are looking for according to a survey Eliot brought to the table from the 1000 Watt report. Hiring agents that know the space and are educated on on the various options sellers have to work with.
As a realtor coming into the space it's important to use the financial instruments, such as Zoodealio, that are going to help you to better understand the market and help you and your sellers better understand the options that are out there.
Little bit off topic, but what's up with these gas prices! $85 to fill up a Ford Escape, sheesh!
If you don't know about the Cash Offer+, look into it you'll be glad you did. Sellers in distressed positions more and more are using the cash offer + as a solution to sell their home.
This episode got a surprise special guest, Doug Brinton, Zoodealio team member and real estate agent himself.
DEAL DEEP DIVE
Keith breaks down two properties where the home owner has gotten an OpenDoor offer and the agent is not tied to the deal. Interesting situation. These home owners came to Zoodealio where they got offers that beat them! Happy home owner, happy Zoodealio team!
And that wraps up this episode of the iBuyer Experiment, thanks for listening in!
Wednesday Mar 16, 2022
Wednesday Mar 16, 2022
This week we are talking with Sean Moudry. He has the #2 team in all of Keller Williams, and is a successful real estate coach out of Colorado.
What does the journey to becoming the #2 team at KW look like? I started with a how to buy real estate book at age 19 and began door knocking. At 21 I was licensed and sold 72 transactions my first year. By the time I was 27 I was closing 140-150 a year, on the 30 under 30 lists, in ReMax HOF at 24, things like that. From that experience I went to the brokerage side with KW and became a Bold coach and a franchisee. I eventually left and started my own coaching company and brokerage. Recently I joined the Sarah Reynolds Network. I realized that the expansion team networks are the future of real estate brokerages.
20 years ago it was easy to dominate a market, there were only a few places to advertise and it was easy to outspend people. Now you have Zillow, RedFin, Trulia, realtor.com and others, you really can’t out spend them. But by pooling resources and centralizing services the marketing spend can be increased in a market, In Colorado this year we will spend more than $1 million on marketing.
Zoodealio has some recently added mega teams and their marketing in the $100k a month range. Most agents are happy to make $100k a month, let alone spend that on marketing every month. It’s kinda like racing a jet when you are on a bicycle and the average income for agents has been dropping dramatically over the past 5 years.
In ’06-’08 money was easy and it drove the prices up, and rent rates. Now the fear is that some institutional buyers have access to massive amounts of cash worldwide. Let’s face it If you are in an unstable market the U.S. residential real estate market looks like a pretty safe bet, if we hit a recession will these institutional buyers simply dump their inventory? That is a scary thought.
Maybe they will hole enough of the inventory that they can control the cycle? Many plan to hold thee for 7-10 years as income based assets, the rents over time have only gone up about 12% while appreciation was much higher. Now the speculation is that rents will increase 15-20% in a lot of markets … Is rent control coming?
What should REALTORs be doing to increase their business? It’s not a one size fits all thing. Not everyone should be calling FSBOs or expired. I use the MBTI personality profile to identify what someone’s strengths are, then create a coaching profile and plan based on that then we back out from their strengths.
What do you see coming down the pike? We are averaging about 10-15 appointments a week and converting about 25% of those on the first visit and about 50% in 2 weeks or so. The reason Eliot and I reconnected is we were looking for a way to convert some of that other 50%. How do we do that, some of the properties are not ready for market for whatever reason, maybe it just needs some work, maybe its a hoarder house, whatever, or maybe the seller just wants an offer. The iBuyers are advertising to change the way sellers are thinking of selling their properties and promoting an “I want an offer and I don’t want to show it” mentality. We have about 200 properties from last year that didn’t sign with us. If we had a product that we could go to them with and say we have a real cash offer in hand for you, that is an important piece.
When the important menu of options for things like instant offers, home trade in, or make my offer cash - or other things on systems and platforms for agents and teams? A lot of mega teams are generating a lot of buyer leads, many of those are 18 months out and the price of generating those leads is going up. Some teams are too buyer focused, they are writing 20 or 30 offers and not getting them accepted. So if you want to pivot to the listing side you have to have a niche and offer something to catch the sellers attention, and agents don’t want to embellish so them having a product where they have real buyers ready right now is key. Your job is basically to bring the best technology available to your clients.
Tuesday Feb 15, 2022
Tuesday Feb 15, 2022
Broker wars … kinda like Cola wars, but with houses
A lot is happening in the real estate world right now!
Keller Williams and EXP are fighting -“Broker Wars!” Apparently the ex-CEO of Keller Williams was recruited and hired by EXP and they are fighting in court about it. We’ll see how it goes. It looks like this is more about clout and who is stronger than about money. We’ll see who is stronger, but Gary Keller can box!
Inman had an article today posing the question “if the real estate market is so hot why aren’t prop tech companies and their stocks hot?” Stocks have been in the toilet across the board, but OfferPad is exceptionally low, I think they even went below $3 a share. They’re not even a billion dollar company any more, even with their huge line of credit.
We have been hearing rumors that OfferPad is now more interested in taking listings and recruiting agents than in taking down iBuyer deals. Open door is also recruiting agents and even has a program to offer agents $40 to show their listings.
DEAL OF THE WEEK!
Can’t really nail down just one! We’ve got a couple of deals going where a contract fell out and we were able to go in and save the deal with a Cash Plus offer, and the seller can still realize the upside of listing on the open market later. In short they get what they need!
77% of people polled by Redfin believe we are in a real estate bubble AND 44% of real estate agents also believe it. It doesn’t really look like a bubble, the supply is way below demand. It's not clear how supply could explode somehow if it popped, there just aren’t enough homes for it to happen. Back in the ’06-’07 timeframe inventory exploded because people were walking away from their second or third, or even fourth homes. Back then you had a Kroger Bakker with three or four homes with mortgages and it was easy to just walk away from them.
The real estate market is still BANANAS … that pretty much sums up this week’s episode.
Thanks for joining us.
Wednesday Jan 19, 2022
Wednesday Jan 19, 2022
The Zoodealio Team meets with Real Estate YouTube Rick McHone on this episode on The iBuyer Experiment Podcast.
Rick discusses his journey to becoming a YouTuber in the 'real estate' space. He says it all started when covid-19 hit. No one was buying homes so he decided to start making videos, having interest in cameras for some time, and make video's covering the different news and data changes in the industry keeping the real estate community up to date.
If your a real estate agent looking to market and get your name out there with YouTube, you're not going to want to miss this episode. Rick gives his tips & tricks in his success while reminding everyone that it is never too late to start something new.
Hope you all enjoy & Thank you Rick McHone!
Tuesday Jan 11, 2022
Tuesday Jan 11, 2022
This week we’ll talk about some thoughts on 2022
HAPPY ZOO YEAR!
CoreLogic released their top markets in 2021 report and Phoenix was the #1 real estate market in the United States. Over 30% appreciation for 2021, its amazing. Arizona is such a fabulous place it is easy to see why our population is growing.
Zillow also released their prediction for the ten hottest housing markets for 2022 … Tampa, FL is #1. Followed by Jacksonville, FL; Raleigh, NC; San Antonio; Charlotte, NC; Nashville, TN; Atlanta; Phoenix; Orlando, FL; and Austin, TX. Zillow uses the traffic numbers and other analytics and data to make these predictions. In the same report they also advise to say no to green cabinets, houses with green cabinets sell for less.
The buy and hold/rental market is interesting too, rents appreciated at a rate of about 10% in 2021 and they are expected to have a similar increase this year. We will have a lot of appreciation across the board this year, agents should point out to buyers on the fence that renting is a bad idea and that the appreciation in the housing market is going to continue.
People often consider all of the iBuyers to be the direct to consumer companies, things like Redfin, Open-Door and the like, but the reality is that huge hedge funds and REITS (Real Estate Investment Trusts) own as much as 12% market share in real estate where they want to invest. They are not flipping these homes, they are buying them and holding them to as much as 7-10 years as investments.
The new trend of "build for rent" are growing in many areas, but especially where iBuyers are already prevalent. These are single family homes, not multi-family or apartment buildings, that are not being sold to consumers, this can add to an area's supply chain and trades shortages. American Homes For Rent started an arm years ago to buy existing homes and have since shut that down to build these communities.
Home ownership is decreasing as well, in Q3 2021 the ownership rate nationwide was 65%. We REALTORS should promote home ownership wherever and however we can.
Which brings us to the big questions … How are REALTORS going to be effective in 2022? How will they get more listing inventory, how can they have a cutting edge value proposition? You can’t expect to have a large inventory by working just one lead source, if you are after truly big things you have to have a wide variety of lead sources to fill your sales funnel. Build a system and process … do the work, and it works. Find out who it is in your marketplace that are driving things and align yourself with them. It boils down to real estate conversations. How many are you having, and when can you have a unique conversation that no one else is having, if so you are definitely going to elevate your position in the market.
The Zillow iBuyer report came out and Phoenix was reported to have 12% of the market bought, owned or sold by iBuyers. In Gilbert, AZ (a city of about 250,000 people) in the last week of 2021 there were 172 active listings and 87 of those were owned by Opendoor, OfferPad or Zillow, that is more than 50% of the active market owned by an iBuyer, this has definitely grown dramatically. This is coming everywhere, Gilbert is extremely educated, has an extremely high average household income, and very high housing prices, if it is happening here, it can happen anywhere.