Getting lost in all of the real estate terminology? You are not alone! Thom and Dave talk about some of the common terms that you will hear throughout the purchase of a new home and what they mean. They are also sharing some info on a couple community events that are coming up. Including our 2nd annual pet food drive happening in just a couple weeks!
Ron touches on some of the impacts of new construction home sales in the area. You won’t want to miss all of the details on our latest and greatest listings!
Dave Burnett: This is the Idaho Real Estate Buzz. He is Thom Dallman the CEO of Core Group at eXp and of course CoreGroupRealty.com is the website for you to go to. It's Core Group at eXp Realty, correct?
Thom Dallman: Core Group at eXp Realty, that's what we're known as now.
Dave Burnett: You're not only the CEO but you're also one of the associate brokers.
Thom Dallman: I'm an associate broker yes, so I still have my broker’s license and still have that education behind me. The experience of running the brokerage, I just don't have the responsibility anymore.
Dave Burnett: There we go, but for Core Group they have been in town for a long time, not fly by night, not suddenly hanging a shingle on the wall saying, "Let's see if we can sell a house here." It's about getting a home for people.
Thom Dallman: Yes, it's about helping educate, helping teach our clients how to get into a home, what's the best home for what you're looking for in your family. Not just pushing them to try to get into the most expensive house that they can buy. It's really trying to find that perfect fit for them, being their partners, being their advocates out there, negotiating for them, and stuff like that. It's really a partnership with our clients and being their trusted advisor. Not just for the purchase but afterwards, giving helpful hints, tips throughout the years. Don't forget to go out and check your attic, make sure the vents are closed, all that kind of fun stuff that goes with home ownership. Clean out your fireplace.
Dave Burnett: We'll have to talk with Stan because we're coming up to that time of year again where we're changing seasons.
Thom Dallman: Yes, I was just thinking about that this morning. Actually I was thinking it's time to get Stan Audette in. We haven't had him in in a little while, AAD Inspections.
Dave Burnett: Talk about getting that home ready for the season ahead.
Thom Dallman: Yes.
Dave Burnett: When you're buying a home there's a process to go through but I think right now selling a home may be trickier than it used to be, and that's one of the things your agents at Core Group at eXp will help do is to walk you through that process of selling a home.
Thom Dallman: Yes, I mean it's a huge project to take on to sell your home as far as just getting it prepared, being prepared for people coming through your house, just constantly keeping it clean. It's a big project and so we really like to have that consultation with our clients, do that walk through, look at the house, give them helpful hints on things that they can do to make it show better. Give them helpful hints outside, it's all about curb appeal on the outside. When people first pull up that's the first impression they get. We've had people that we've had to say, "You need to water your lawn. Your lawn's really brown there," and stuff like that, or you need to pull all your weeds out of your flower beds and get it looking nice and stuff.
It's really a conversation with the sellers and helping them know what they need to do to get it ready, to get it ready for photos, to get it ready for showings and stuff like that. Preparing them because a lot of people don't think about the fact that your life is disrupted. You're cooking dinner and all of a sudden you get a phone call that someone wants to see the house.
Dave Burnett: Got to get Fido out of the house, and got to get the kids out, got to get the cat, and you got to do all these things.
Thom Dallman: Exactly.
Dave Burnett: Then there's the questions of how long can I expect this to take? We do ads for Core Group at eXp and we talk about it sold in two days, sold in three. Is that realistic? Will it be a week? Is it a month? Is my house priced right? There are so many questions that go into selling a home and I think as we're Core Group and sitting down with one of the agents can really help answer a few of these questions.
Thom Dallman: Yes, so we really make sure that we evaluate the pricing of the house extensively. We're not in the market to have houses just sit there, so typically when you see a house kind of sitting there the impression is that it's overpriced first and foremost, or there's some unique part of that house that doesn't appeal to all buyers and stuff. It's really kind of a fine science of determining what that perfect price is to get it sold quickly and get the most money out of your house. There's different theories, there's different ways to approach that that we can look at whether there's the whole philosophy of pricing it a little bit lower to drive more interest and get a whole bunch of offers in. There's the idea of here's your quick sale price, here's your 30 day sale price if you list here up at the higher end. It may take a little bit longer but that right buyer is going to come along and will pay the price for it.
Then of course you got to compare it all to appraisals, make sure that you're going to get a correct appraisal on it. We've just unfortunately recently had a house that appraised about $12,000 under the list price and the offer price and so there was a lot of renegotiating at that point trying to make the deal come together.
Dave Burnett: Let's talk about you've got a couple homes listed you want to talk about?
Thom Dallman: Actually I have one home that I want to talk about. This house is at 664 South Winthrop in South Boise. It's right there off that Cloverdale Franklin area.
Dave Burnett: Nice part of town.
Thom Dallman: Yes really nice part of town and so much going on over there. There's so many different things going on whichever direction you go towards Eagle Road, towards Cole, but this is a three bedroom, two bath house in that Edgeview Estates, very highly sought after subdivision there. It's a two story, 1,500 square feet home, sits on a .2 acre lot, so kind of a little bit larger lot, which we like in the city. It's got a nice walk in open floor plan with vaulted ceilings. Two of the bedrooms are on the main level and then the master suite is up above on the second floor with walk in closets. Actually has a little loft area that looks down into the living room as well. Really nice home. It's got a large three car garage with RV parking as well as a garden and separate shed for storage and so forth.
The nice thing is it sits right next to a walking path so one side of you you don't have any neighbors to worry about and it's not a very well trafficked walking path so you don't have a lot of people walking by. That path leads to the Spaulding Elementary School there, which is one of Idaho's highly rated STEM academy's.
Dave Burnett: Kind of a science-
Thom Dallman: Yes, science technology and stuff. Yes, this house is listed at $259,900. Great price point. Once again close to that median average price point that we have going on right now in Boise. Then we have some open houses happening this weekend.
Dave Burnett: Nice.
Thom Dallman: Yes, so they hadn't set quite times yet so just feel free to give us a call, 208-933-7777 and we'll be able to let you know what time those are for sure. Someone can help you and if you have any questions about the house someone's standing by to be able to answer your questions if you can't make it to the open house. That someone could probably schedule some time for you to go and check it out.
Dave Burnett: Perfect. I owned a home once had a pathway, a walking pathway by it and it went right to the school we were going to. Not that we went to but that our daughters went to and it really was handy.
Thom Dallman: Yes.
Dave Burnett: They'd get out, they'd just walk the path to school.
Thom Dallman: Just walk right to school, exactly.
Dave Burnett: If you have school aged kids you may really want to think about this. It's just nice to know you're not saying, "Hey, have a good time on the street." Run through the cars but they were able to get on that walking path, it was really nice to do.
Thom Dallman: Exactly, so this is a great house to do that with, 664 South Winthrop in South Boise.
Dave Burnett: Perfect, and as I mentioned open house is going on today but if you're out in the area stop on by or give a call 208-933-7777. That is the phone number for you to call to find out information about this open house or about anything going on with the show, whether it's one of our past podcasts, you can catch those at CoreGroupRealty.com or find that information by calling the phone number. We like to call it the Idaho Real Estate Buzz where we talk all things about real estate. Not only just the homes that are for sale by Core Group at eXp Realty but about how to take care of your home as well or whether it's mortgages, we'll be talking to Ron here in just a few minutes with Eagle Home Mortgage, about some of the topics he's talked about in the past kind of putting a bow on all of that. We'll talk to Ron in a few minutes. By the way, Eagle Home Mortgage one of the sponsors, along with the folks at Core Group at eXp Realty, and of course you can always go to CoreGroupRealty.com for the website.
It's the Idaho Real Estate Buzz. We will continue on the other side. Find out why they say you get more with Core.
Dave Burnett: This is the Idaho real estate buzz being brought to you by Core Group at eXp Realty, Thom Dallman, the CEO of Core Group and of course, also being brought to you by the folks at Eagle Home Mortgage, and Ron joins us once again. Ron, welcome back to the show.
Ron Wieczorek: Good morning guys.
Thom Dallman: Good morning. We've been talking about a number of things over the past weeks, the random thoughts by Ron, but, within that, Ron has come up with a couple of items you kinda wanna expand on.
Ron Wieczorek: Yeah, something really sticks out, and it's being brought to my attention more and more with lotta the articles that I read, and, one of em is ... and it kinda piggy-backs off what we talked about, and Tom mentioned in the break was ... that sellers are staying put in the house that they have now, so they're clogging up some of that inventory. And we call those pull-backs.
Thom Dallman: Mm-hmm (affirmative).
Ron Wieczorek: So, with those pull-backs, we're looking at ... what are people buying? Are they buying existing homes ... that the inventory's low on? Are they moving up the price point which they may not be able to get to, because a lot of these buyers that are looking are first time home buyers that need entry-level homes. So…
Dave Burnett: move it up.
Ron Wieczorek: That's right. So now, new homes look like a deal, at least compared to existing homes.
Thom Dallman: Mm-hmm (affirmative).
Ron Wieczorek: And what I mean by that is ... if you look at, and this is a ... also in the United States, but it's happening right here in the valley too. The average last quarter for a new home in the United States was $324,000 in change. That's for a new build. The average existing home was $254,200. So, what that is, that's a 28% gap between the two sale prices. And, it sounds like a big gap, but it's down from 37% in 2015, and closer to what the national average has been over the years. Why is there a gap? The gap is because ... homes have a premium on them, so anytime you're gonna buy a new home versus existing home, maybe it's modern technology, maybe it's more maybe it's more upgrades, and it's just a new house. So, it comes with a higher price tag. So, that gap of 28% really, like ... flew off the page me, to say why is that? Why is that gap so ... with a ... with a low inventory environment, why would with tariffs on ... on lumber, with the scarcity and labor that we've talked about in the past ... why is that happening? Why is that gap so slow, or so low? And it really is to cater to the buyers that are in the market now.
And, I touched upon it a little bit ... as the buyers in the market now are newer. So, what they're doing is instead of building near all the existing homes ... in the United States, and we see here in the valleys, they're pushing out. They're pushing out to have ... because nobody ... I shouldn't say nobody, but most people don't want all entry-level homes in their neighborhood, we talked about not in my backyard. So, what they're doing is they're pushing out ... to cater to that affordability crunch of the new home buyer. And, they're really going further from the job centers, to cater to the budget-conscious home buyers. And, I think you're…
Thom Dallman: Exactly.
Ron Wieczorek: You're seeing a lot of that too on your end, Thom.
Thom Dallman: Yeah, we’re seeing a lot of those subdivisions ... getting put in, and the rural areas of town where they can fit ‘em, and stuff, so.
Dave Burnett: So, rural areas, where are we talking that we're seeing these going?
Thom Dallman: We're looking at, we're looking at has been a huge one for new construction, and a lot of those ... new subdivisions goin in, so, the outskirts of Meridian, and stuff like that, they're just, yeah. They're going in a little bit of everywhere, so.
Dave Burnett: But, one of the things I see with this is a potential for businesses, moving at that direction as well, I read this week where going to get it's first theater hadn't had a theater, they we're gonna put... So, you're seeing expansion of businesses going with the homes.
Ron Wieczorek: We are seeing that, and, I'm gonna touch on everyone listening saying, is he saying new home builds are cheap, cause I'm not seeing that.
Thom Dallman: Not at all.
Ron Wieczorek: And that's ... and that's not what I'm saying. I'm saying that cause the resale homes have appreciated, it's such a great ... a great clip, that it's making that gap slower. So, it's not ... it's not the ... the homes are inexpensive, or cheap, you know, they are market price, and we do have to factor, or they do factor in those different ... labor conditions that are going in there, and the tariffs, but, because of the existing homes have had such appreciation for such a long time, and a long time being the past couple of years, that that does look like a deal to more consumers. But, we do see a lot more jobs, and we're talking about, you know, you hear Amazon, and I don't ... you know, I just read the clipping from that ... I shouldn't say just read, I ... it was a couple months ago, and I don't how far along they are, or what that looks like for the valley. But, we do see a lot, a lot more jobs popping up. And, that's why a lot of people are coming here. It's cause there's jobs, there's good jobs, and there's a lot of jobs that they carry from their previous employers, what we see a lot.
Thom Dallman: Mm-hmm (affirmative).
Ron Wieczorek: We see a lot of folks that ... are able to work remotely, cause we're in a different time now.
Thom Dallman: We are.
Ron Wieczorek: And, a lot of people have that ability to work remotely, and when they have the ability to work remotely, it doesn't matter whether you're in Boise, Idaho, or San Jose, California.
Dave Burnett: Yeah, and if you wanna pick traffic, you'd pick Boise.
Ron Wieczorek: All day long.
Thom Dallman: All day long.
Dave Burnett: Any day. - traffic's horrible. Now, go drive-
Thom Dallman: Oh maybe with the new construction , driving us a little crazy, but.
Dave Burnett: But, it is, and we are seeing such an influx as reading an article over the weekend about the Puget Sound, and people from the Puget Sound making their way, you know, coming this, there's a lot of people out of Seattle saying enough, and then moving this direction, so. I guess it's one of those things that ... you just gotta stay outta-
Thom Dallman: Right?
Dave Burnett: But, if somebody is ... I guess here's where it comes down to, and where really comes down to for the show, is if somebody is looking to sell their home, then building a new one now ... it is an option, it's affordable
Ron Wieczorek: And, that's ... And, I'm glad you went there, cause it was in my notes to talk about what it's ... with existing homes appreciating it's such clip, it's creating a lot of wealth, for people that ... would sell, and do maybe wanna buy a newer home, or maybe upgrade, so that wealth is creating larger down payments. Creating people to better position themselves from a debt load, and just be more, you know, live a better lifestyle, and be more functional, so it makes it easier on us. In those instances when they come in, and they want a loan, and they go to Thom, and are you pre-approved is probably the first question he asks, and ... and I appreciate that. And it makes our job easier when you're putting more down payments. And, what it does of we talked about the crash, we talked about the market crash, and we talked about how it was a house of cards, and those loans we're built off things that weren't sturdy, they were stated income loans, they were I have a job, but I can't really tell you much more than that, but I promise I'll pay it back. And, I ... And, I don't really have any to put down,
Thom Dallman: Yeah, I don't have any down payment.
Ron Wieczorek: So, when you've ... when you have those appreciation, and you have the larger down payments, you're building loans, and we've been doing that since the crash, anyway, but you're building loans on greater foundation, which, you know, having greater jobs, greater wealth, all of that speaks to what's going into ... our economy as a whole, but more so in the valley. The valley's really ... has been a ... a huge benefactor of that, cause there's still pockets of the United States that are still under water, there's that they still are not ... you know, they'd probably listen to me, and say, that's not goin on in my neighborhood. But, Boise's been really, really fortunate, and for good reason.
Dave Burnett: Ron is with Eagle Home Mortgage by the way, equal opportunity lender. Let me ask you this question, is there a difference, and again, this is for the novice, you deal with this every day, both of you guys, but for the novice, is there a difference in the kind of loan I'd get for new construction, as opposed to buying an existing home?
Ron Wieczorek: Well, it depends on who's doing that for you, meaning who's building the home. Most of the builders in the valley are the bigger builders that will build the house, and wait till the end to get the loan. So, in that case, there's real no ... no difference on my end, there's still walking, and the then the mortgage company callin me up, and getting the pre-approval, and they don't owe funds until ... until they move into the house, or to like close.
Dave Burnett: So, the builder has deep enough pockets to ... to do.
Ron Wieczorek: Deep enough pockets. Right, if it's building company, just it doesn't have enough money to fund it, that financing looks a little different, cause then you get into the construction loan where they're going to ask for distributions as they are building the home, so they can go and... pay their staff, have the materials, so that looks a little different.
We're not seeing a ton of that in the valley, maybe some folks find land, and their brother in law's a general contractor, and that's how they go about that, that's a little more ... it's a product.
Dave Burnett: And so that's something you sift out as you talk to people?
Ron Wieczorek: Right, right, and a lot of times, you know, folks will ... that's a great idea, I'm gonna buy land, I'm gonna build on it, and after they do the research of what's really entailed, and what they're getting into, they're calling Thom, and-
Thom Dallman: Can we find some other options?
Ron Wieczorek: Yeah, can we find something that's already built, or close to built, or in that subdivision, so, that's the conversation we have, so you're right, that ... but usually, it's a switching gears type. You get your feet wet with that idea, and that ... and then you come up with something different.
Dave Burnett: So, at Eagle Home Mortgage though, if somebody wants to call, and just set up a time, to chat ideas, you have time to talk to em.
Ron Wieczorek: Always, always, I'm looking at my phone right now to see if they're calling.
Dave Burnett: Well by the way, what is your phone number, I know you always keep that cell phone by you ... phone number, in case somebody wants more information?
Ron Wieczorek::Directly, and I always, like you said, my cell phone's always near, or on me, it's 208-869-9154.
Dave Burnett: And that is Eagle Home Mortgage. And Thom, it's a relationship you have developed with Ron, and the folks at Eagle Home Mortgage, it's worked out well for Core Group.
Thom Dallman: Yeah, yeah, we've loved our partnership with them, they're amazing at what they do, and they're dedicated to their clients as much as we are, making sure that our clients are having an amazing experience through their own buying process, so, it's been a great relationship.
Ron Wieczorek: Feelings are mutual, Thom.
Thom Dallman: Thanks.
Dave Burnett: Alright, the admiration club.
I guess in this day and age, where real estate, and the whole industry is changing so rapidly, you hear in the valley, and homes are selling quickly, and it's different now than it was even five years ago.
Having experts that you can rely and trust on, really is-
Thom Dallman: It's important, yeah. You have ... This is a important deal in your life, where you gotta have people that you can trust to help you, guide you through it, so.
Ron Wieczorek: And one thing I always throw in there if we have time, is I do this everyday, all day for the past seventeen years. Most of my clients do it one, two, three times in their lifetime, and it changes constantly. So, don't be afraid to ask those questions, I, you know how many people say, " I know this sounds stupid, " I'm like, no it doesn't. I have a finance degree, and I really didn't know what a mortgage was going into the business seventeen years ago. I knew my parents had one, but they didn't teach my in college, any of this. Now, I won't mention the college-
Dave Burnett: They don't, they don't teach you that. See, I would be fascinated to know just by weird curiosity, how much money, how many dollars, banks, and lending institutions have invested in the treasure valley in property loans. That's gotta be a lot-
When you think about it
Ron Wieczorek: I'm glad there wasn't a question for me at the end of the-
Thom Dallman: I know, right?
Ron Wieczorek: I don't know that answer. That's my homework, thank you.
Dave Burnett: How much ... how many dollars do banks have invested in treasure valley?
Thom Dallman: Wow.
Dave Burnett: Eagle Home Mortgage, you can get all that there, and find out more if you're interested, and of course, you can always find the link to them at the website, at CoreGroupRealty.com. Eagle Home Mortgage, and Core Group at eXp, they are bringing you the Idaho Real Estate Buzz, find out why they say you've got more at Core.
Dave Burnett: This is the Idaho Real Estate Buzz. He's Thom Dallman the CEO of Core Group at eXp Realty and one of the associate brokers as well. I know we talked to Ron in the last segment and mentioned the fact that the average person's going to do two, three, maybe four real estate transactions ever; you guys do it day in and day out.
Thom Dallman: Day in and... That's our livelihood.
Dave Burnett: You live it, you breathe it, it just is part of your livelihood. And I guess that's kind of where I come in to this, and that is to ask the dumb questions.
Thom Dallman: There's no dumb questions.
Dave Burnett: Well...
Thom Dallman: We talked about that.
Dave Burnett: There's a lot of terms that are used when it comes to real estate, when it comes to loans, when it comes to all this, and if somebody is shy and doesn't want to go, "uh... Thom?"
Thom Dallman: "What does that term mean?"
Dave Burnett: "What does that mean?" And some people don't want to ask.
Thom Dallman: Oh, you gotta ask that question.
Dave Burnett: But there's some terms... I want to talk a little bit about terminology. We've done this a long time ago, but we haven't done it recently.
Thom Dallman: Sure.
Dave Burnett: And if someone is new to the Idaho Real Estate Buzz, again, that's part of what this is, to help educate you on real estate and on that transaction.
So, let's kind of go into Real Estate 101 and some of the terms that you may run into with your agent.
Thom Dallman: Sure. "Agent" is one of those terms; seller's agents, buyer's agent, dual agency, you'll hear about. Broker agents. Those are some terms that you'll hear quite a bit and they have various meanings to them, so...
Dave Burnett: Let's break down the difference between a buyer agent and a selling agent.
Thom Dallman: Sure, sure. There's a lot of teams set up right now and, obviously, in every transaction there's the seller and there's the buyer. There's a lot of teams that are set up to where they have very specific agents for each side. Agents that just focus on buying process and agents that just focus on the listing side, helping the sellers negotiate, get the best price. Buyer side, they're helping get the best price for their buyers and negotiating concessions and stuff for their clients as well.
So it's two, to me, two very separate mentalities of what you have to think about when you're trying to represent a buyer versus a seller. Obviously, when you're trying to represent the seller, get the best for him, get the most money out of it without them having to pay a lot. Likewise, for the buyer, you're trying to get the best price so they're not paying a lot to get the house and stuff.
Dave Burnett: So whether you're buying or selling, though, you really need somebody you have confidence in to know they have your best interest at heart.
Thom Dallman: Well, yeah. You have to know that they're there to represent you and they can be your trusted advisor, as I always say. But most importantly, we get so many phone calls from people who are like, "I just want to talk to a listing agent. I think I can get a better deal if I just go directly to the listing agent." And we have to tell them, you can do that, obviously. You can talk to the listing agent, but you're doing yourself a disservice, because that listing agent has a contract with that seller. Commissions are already negotiated, so you're not gonna get a good deal just because you're going through the listing agent. Listing agent is just going to pocket that money.
But that listing agent is going to be representing the seller. Everything that they're going to do is to get the best price for the seller, not necessarily negotiate for the buyer.
Dave Burnett: Let me back you up just a little bit here. Let's say we have a house for sale and it's listed by Core Group Realty.
Thom Dallman: Yep.
Dave Burnett: I happen to drive by it, maybe I hear us talking about it on the show here.
Thom Dallman: Sure.
Dave Burnett: So I call Core Group and say, "hey, you've got this house here on Main Street that I'm really interested in. I need to talk to an agent about it." Are there legal ramifications, or maybe ethical things, that then that person would be directed to not the listing agent?
Thom Dallman: We usually will try to get them with a buyer's agent so that they-
Dave Burnett: I want somebody who's representing me, not the house.
Thom Dallman: Our buyer's agents will represent that person calling in and give them the information. All of our agents have all of that information available to them. So, yes and no. Sometimes you get directed to the listing agent so that they can kind of give you some of the direct information to it, but I recommend, and I prefer for my agents to refer that buyer over to a buyer's agent so that there isn't that conflict of interest between the listing agent trying to sell and get the buyer in there.
Dave Burnett: I know you can't speak for all companies...
Thom Dallman: It does happen and stuff, but that's where we kind of get into that whole dual agency. Dual agency is where the broker just representing both sides. So sometimes it is one agent trying to represent both sides, and they have to be completely neutral. They can't persuade one side or the other to go... To do what they need to do to get the property to sell.
When you get into dual agency, with one agent on both sides, there's so much legal...
Dave Burnett: It creates challenges.
Thom Dallman: It creates challenges. And if it came down to a legal battle, I tell my agents all the time, "if it comes to a legal battle, can you sufficiently prove that you were a neutral party to both sides and didn't represent one more than the other?" So that's why I highly discourage it. It happens all the time. Agents out there are doing this all the time, but to me it's just... You're always going to... It's human nature to favor one side over the other.
Dave Burnett: So if I'm calling Core Group, what do I ask for? If I'm looking to buy a house, what do I ask for?
Thom Dallman: Just ask for a buyer's agent.
Dave Burnett: A buyer's agent.
Thom Dallman: Just ask to speak to a buyer's agent, someone that can represent you on purchasing the house. Purchasing "a" house or "the" house, or if you see one of our listings.
Dave Burnett: You can't represent all real estate companies, but, ethically, most any real estate company, any upstanding real estate company, will direct their people that way.
Thom Dallman: Yeah, hopefully. Hopefully that's how-
Dave Burnett: Because otherwise, there's issues.
Thom Dallman: Yeah, exactly. Exactly.
Dave Burnett: Okay. So, buyer's agent, seller's agent, dual agency.
Thom Dallman: Dual agency, we talked about that. That's when the broker is representing both sides.
Dave Burnett: You mentioned the word "brokerage." And there's always a broker. You're an associate broker.
Thom Dallman: An associate broker, yeah.
Dave Burnett: What does that mean, "broker"?
Thom Dallman: So there's the... "Broker" is a special designation that you go through extensive training to learn a lot of stuff. It's four weeks of intense 8-5 training, going over contracts, legalese, learning the appraisal process, a lot of lending information as well. And it's really to gear people to be able to be an educator, in my eye anyways. That's what drew me to becoming a broker and get my broker's license, because I love the education and being able to help my agents. So to me it was very important to do that.
So brokers have gone through that extensive training, have gotten through the licensing for that, passed a more in-depth test than just the regular real estate test. So there's the broker, and then there's what's known as the "designated broker." So every brokerage has to have a designated broker, has to have one person who's the Grand Poobah.
Dave Burnett: In charge, yeah.
Thom Dallman: The one in charge.
Dave Burnett: The one that has to answer.
Thom Dallman: The one that makes sure that agents are doing what they're supposed to be doing. Not getting themselves in trouble. Writing good contracts. Reviewing those contracts, making sure that they're written correctly and that there's no ambiguous or confusing language in the contract. As well as supervising. That's one of the huge roles of designated brokers, that, honestly, I kind of see get abused, I want to say. Designated brokers who get so many agents underneath them that they can't sufficiently supervise. So there's a lot of agents out there doing what they want to do.
Dave Burnett: It's called cutting corners. They want to cut corners.
Thom Dallman: Yeah, and unfortunately, it's just kind of part of the industry. Every industry has that, those renegades, those people who kind of push the limits and stuff like that. I don't want to say anything bad about any other agents, that's not what the goal, intent is here. But it is to educate people, to let them know you get all kinds of agents out there, that's why it's so important to educate yourself and make sure you're interviewing agents and stuff. But, at the end of the day the designated broker is the one that's responsible. Every single brokerage has a designated broker that you can call.
Dave Burnett: So if I'm buying or selling a home and I think that Johnny, my agent is- Hopefully there's no Johnny here involved. But, let's say John is my agent, and I think John's cutting the corners somehow, going, "that doesn't seem quite right." Do I call the designated broker and ask-
Thom Dallman: I would. I would recommend you call the designated broker just voice your concern. So the designated broker can look into it, and get the information you need, make sure that Johnny on the Spot's not doing anything that he shouldn't be doing.
I mean, I would welcome those phone calls all the time if one of my agents is just not performing, you're feeling you're not quite getting it.
Dave Burnett: And it's not necessarily something nefarious. It could just be inexperience.
Thom Dallman: Exactly.
Dave Burnett: That they need to understand how it works.
Thom Dallman: Yeah, they just don't realize what's happening and stuff. So that's why it's important for the designated broker to be available and to answer these phone calls, to help people out with that.
Dave Burnett: Okay. All right.
Thom Dallman: So they're not getting in trouble.
Dave Burnett: These are kind of topics, what we're talking about here, kind of touching, kind of, my goodness, it's the underbelly of the business. But if you're making the largest transaction of your lifetime... Let's face it, right now if you're making it for... Most of these transactions are over $200,000...
Thom Dallman: Oh yeah.
Dave Burnett: Plus. That's a lot of money.
Thom Dallman: Exactly. It's a lot of money to be investing into a home so you definitely want to make sure you have someone that you're working well with and that you know is there to support you and to give you the best guidance.
Dave Burnett: And at Core Group, you have no issues at all with people coming in to interview with their agents?
Thom Dallman: No, not at all. Come swing by anytime. We usually have an agent on duty, so there's always someone standing by, ready to chat. Or just give us a call, and if you don't like that agent, we have other ones. Just say, "you know what? I feel like we need to chat with a different agent."
Dave Burnett: Well, in part because personalities vary.
Thom Dallman: Yeah, exactly.
Dave Burnett: You may be somebody whose personality is like, "yeah, that's not for me."
Thom Dallman: I go through a pretty extensive interviewing process and stuff, so I'm focused on making sure we have the best people dedicated to the industry at our office, so more than likely, you will like the person that you meet.
Dave Burnett: Hard to believe it. We were going to talk about all these terms.
Thom Dallman: Yeah, we have a whole bunch.
Dave Burnett: So we'll have to save it and finish it again at another time.
Thom Dallman: Exactly.
Dave Burnett: If you'd like a listing agent, a selling agent, if you want more information, you can always get a hold of the folks at Core Group at eXp Realty. Thom Dallman, the associate broker there. 208-933-7777. That is the phone number to call. It's the Idaho Real Estate Buzz, being brought to you by the folks at Eagle Home Mortgage and, of course, Core Group Realty. Why don't you do this? Go to CoreGroupRealty.com right now. Find out why they say you get more at Core.
Dave Burnett: This is the Idaho Real Estate Buzz. He is Thom Dallman, the associate broker with Core Group at eXp Realty. And of course 208-933-7777, that is the phone number to call.
I got your title right, correct?
Thom Dallman: Yes, you did.
Dave Burnett: CEO.
Thom Dallman: CEO and associate broker, that's what's on my business cards, on my name tag. It's on everything.
Dave Burnett: I see you looking at the name tag, making sure it's there.
Core Group at eXp Realty, they've been here and of course located right on Emerald Street. And we're going to mention that several times here, and that there's a couple of things coming up. I do want to mention one of the things that you really talk about.
That is pets make a house a home.
Thom Dallman: They do. That's one of our favorite community outreach programs. We are partnered with the Idaho Humane Society and we're trying to spread that awareness.
Pet really does make a house a home. I mean, there's nothing more welcoming than coming home, especially for me, my two dogs. I come home and they're just excited to see you.
Dave Burnett: They don't care what kind of day you had, Thom.
Thom Dallman: Exactly.
Dave Burnett: They really don't care. They just want to see you.
Thom Dallman: They just want to love on you.
Dave Burnett: That's amazing.
Thom Dallman: Whether you're a cat person, a dog person, a bird person, a reptile person, like pets just make a house a home. They just make it feel lived in, they make it feel welcoming when you come home. It gives you that peace of mind to take care of something.
Dave Burnett: Now, bearing that in mind, there's two events we want to talk about.
Thom Dallman: Yep.
Dave Burnett: One is See Spot Walk is coming up.
Thom Dallman: See Spot Walk's coming up, October 6 from 9-1. That's going to be over there at ... I believe it's Julia Davis Park. And so they have ... it's really cool.
It's going to be over there at the band shelter. They have all kinds of mentors usually. So anything pet related that you need, you can usually find a vendor there.
Dave Burnett: Okay. Walk this through for somebody who maybe is new to the area or maybe has never done this before. Maybe they're new with a pet. What happens at See Spot Walk?
Thom Dallman: So at See Spot Walk there's a lot of educational stuff. There's a lot of demonstrations. Like I said, the vendors.
But the main part is that there is a walk and a run. There's a ... let me see if I can remember this. There's a one mile dog walk.
Dave Burnett: That you take with your dog.
Thom Dallman: Yep. Everybody brings their dogs. Excuse me. Everyone brings their dogs, they walk their dogs around this one mile course, and end back at the park of course. So ...
Dave Burnett: And bring your plastic bag for your dog poop.
Thom Dallman: Yes. Please bring a way to clean up the mess.
Dave Burnett: Yes, exactly.
Thom Dallman: And then there is also a 5K fun run with it as well. So it's just a great event to get out into the public to bring people together. The dog lovers together.
They do have a cat function usually in the spring, as well. But this is their one that's just dedicated and focused mainly on dogs and the dog lovers out there.
Dave Burnett: And it is a fundraiser for the Humane Society.
Thom Dallman: It is, yes. It's a fundraiser for the Humane Society. They get thousands of pets, you know, dogs and rescues and stuff through there, that they're constantly looking to get adopted out. Interviewing families.
My own puppy dog, Scruffy, is from the Humane Society. We got him two years ago. He's my little pound puppy, a little six pound Chihuahua terrier mix and he's hell on wheels sometimes.
Dave Burnett: He owns the house.
Thom Dallman: Yeah. And it's our passion and one of the things that we love so much about the Humane Society, is the rescues that they do and the animals that they save and find homes for. It's just a great cause.
And I encourage you, if you're looking for a pet, to contact the Humane Society. They can walk you through finding that right pet for you and for your family. It's so important that you find a pet that will fit your lifestyle and your family's lifestyle.
Obviously because they don't want these pets to be released or brought back. So.
Dave Burnett: And they really do. I know some people, we want a purebred dog, we want to raise it from a puppy. Okay, that's good. That's fine.
But they have dogs, and cats, really from all ages. From puppies up to older dogs that have been dropped off that somebody can't take care of.
Thom Dallman: Exactly.
Dave Burnett: So you get a wide variety, a wide range of dogs to select from.
Thom Dallman: Yeah. And if you don't find an animal or a pet that fits what you're looking for at the first go round, wait a month, go back. They get new animals coming in. They get animals coming through all the time.
So I just ... yeah. I'm a big advocate for the Humane Society and what they do for animals in general in the United States and stuff. That's why I like to talk to it, that's why we partnered with it, that's why we talk about a pet makes a house a home and stuff.
So See Spot Walk, October 6. And then the following week we're going to be starting out pet food drive.
Dave Burnett: Is it second time?
Thom Dallman: This is our second annual pet food drive. We'll be for the whole week collecting. Actually from now until then. We'll be collecting either dog food, cat food, any kind of pet food that you want to swing by and drop off.
That goes to their food pantry. The Humane Society not only deals with these animals and gets them into homes and finds families for them, but they also have a pantry for the less fortunate people out there who can't afford animal food or they partner with Meals on Wheels and they deliver pet food to elderly people and so forth that just can't get out and get their own meals and stuff like that.
So it's a great cause. The pantry is one of their subsidiaries that they need help with. They need that food coming in and the resources to be able to get that food out into the public and stuff.
Dave Burnett: So we're talking canned food or dry food, either one?
Thom Dallman: Canned food, dry food, dog food, cat food. Just bring it by. We're going to have a U-Haul on I believe it's Friday the 12th of October. We'll have a U-Haul that we're going to try to fill and see how much we can get. How much food we can collect.
Dave Burnett: So Core Group Realty at eXp Realty. What is the address if somebody wants to swing by? By the way, lots of parking so that's not an issue.
Thom Dallman: Yep, not an issue. We're at 8665 West Emerald Street, so we're right there about two blocks west of the Boise Town Square Mall.
Dave Burnett: Okay.
Thom Dallman: Just on the south side of the street, so you can't miss our big Core Group signs. And our agent on duty sign, if it's 8-5 Monday through Friday.
Yeah, swing by. Please. Bring any of your leftover dog food, cat food, stuff that you may have sitting around or if you just want to go to the store and pick up an extra bag.
Dave Burnett: I would encourage that. When you go, if you have a dog, pick up an extra bag. And then swing it by Core Group. Easy to do, they're on Emerald. Just up by the mall. And just drop it off.
Thom Dallman: Please do, yeah. Like I said, we 100% want to support the Humane Society in their efforts there. Not to mention give back to the community and be able to fill their pantry to get food out there.
Dave Burnett: Well, it's one of the things I really like about Core Group. And I'll brag on you right now. Is the fact that I know there's a number of events that you're involved in, right?
Thom Dallman: Mm-hmm (affirmative).
Dave Burnett: - of Boise and different things. It's because you believe that your people derive their living from this community, so as a company you need to give back to the community.
Thom Dallman: Exactly. Exactly. We're always trying to participate and be out there in the community to, yeah, like you said, give back. It's the community that keeps us going and provides us our livelihood.
Of course we're going to give back to it and support the community as much as we can. So, you know, we're always looking for charities that we can support and stuff like that. So if anybody does have something out there, don't be afraid to call us and we'll evaluate if it fits with our philosophies and stuff like that.
And if we have the ability to be able to support it, we usually do. And stuff. So yeah.
Dave Burnett: We talk about the fact that a pet really makes a house a home. And may well have to do another segment on this sometime because we're just a couple minutes left. But there is a proper time to introduce that dog or cat to the house.
It's not the day you're moving in all the boxes.
Thom Dallman: No. That's going to be really super confusing and stuff for them, and stuff. So.
Dave Burnett: It would be interesting to have a pet trainer, perhaps, on as to how do you move a pet.
Thom Dallman: That's a great subject. I'll try to look and see if I can find one.
Dave Burnett: Cats may be a little different than dogs. I think I know somebody who would come in and talk about that, by the way.
Thom Dallman: Yeah. Let's bring them in.
Dave Burnett: How to make that change, how to make that move.
Thom Dallman: Yeah. So if you want more information about See Spot Walk real quick, I just wanted to throw out there it's at IdahoHumaneSociety.org, in their events page. They have the See Spot Walk category in there so you can go find details about the walk and how to register and everything.
Dave Burnett: Perfect. And of course, the address to somebody who wants to drop wet or dry food off for Core Group?
Thom Dallman: It's the 8665 West Emerald, suite 140.
Dave Burnett: And it's just a couple blocks away from Town Square Mall, so easy to find. Just look for it on the south side of the street and you'll be good to go.
Just freshly painted, by the way.
Thom Dallman: Yes. Yes, it looks really nice.
Dave Burnett: Very good.
Thom Dallman: Thanks to our landlord.
Dave Burnett: It is the Idaho Real Estate Buzz, which we get to do each and every week at this time. Want to invite you to tell your friends. If you know somebody who is getting ready to buy a home or maybe sell a home or thinking about it, tell them about the Idaho Real Estate Buzz.
Tell them about Core Group Realty. Of course they always have a no obligation consultation, if you want to swing in and talk about that. You can do that as well.
Love to talk to you about selling homes. They really do. It's a passion.
Thom Dallman: It is.
Dave Burnett: Buying and selling homes. We do this each and every week. Thank you for stopping by and spending the morning with us. We do appreciate that.
It's all brought to you by Eagle Home Mortgage, easy to find on the website at Core Group Realty at eXp Realty. And of course CoreGroupRealty.com is the website.
Find out why they say you get more with Core.