Thom is calling into the show today from beautiful San Diego, California! Wondering what’s he’s doing so far from home? Tune in to find out!
Darius Elison from One Call Restoration joins Thom and Dave to talk about his recent asbestos certification! Ron also swings by to talk about, you guessed it, millenials! You won’t want to miss out on hearing about the evolution of Core Group to eXp Realty.
Dave Burnett: This is the Idaho Real Estate Buzz with Thom Dallman, the co-owner, also an associate at Core Group Realty @eXp. CoreGroupRealty.com, the website, (208) 933-7777, that is the phone number. And Thom is actually on the phone because you are in beautiful... is it San Diego where you're at?
Thom Dallman: San Diego. Yeah, we're on the island of Coronado.
Dave Burnett: Oh, nice.
Thom Dallman: Right here in San Diego. Beautiful beach at the Hotel del Coronado, one of the oldest hotels here in the area, and just a beautiful hotel.
Dave Burnett: Well, Thom is, and of course we've discussed this, you are down speaking at a national conference of realtors, so out sharing some of your knowledge that you have accumulated over the years with the other realtors.
Thom Dallman: Exactly, exactly. Yeah. I was invited down to actually get up on stage in front of 450 real estate agents from across the US here, basically living our core value of seeking knowledge and learning and trying to educate themselves and be better in the industry for their clients and for their own purposes as well. So I was actually asked to get on stage this week and do a little presentation and a little song and dance as I like to say and share some of the knowledge, like you said, that we've accumulated over the years and help assist other agents. People that have been listening to the show know that that's one of my passions is not just helping our clients but helping our agents, helping other people in the industry to better educate themselves and be better agents for their clients and give them the education they need to help them advance in their careers.
Dave Burnett: Well, part of this is Core Group made a bit of a change here in the past year becoming Core Group @ eXp. And I assume that's part of it, of what you've learned with eXp and how to apply that to the business?
Thom Dallman: Oh, yeah. When we made the switch in September of last year. That was part of the passion that drove me to making the switch was connecting us to almost 20,000 agents across the US and Canada and to be able to master mind, to be able to get best practices, to be able to virtually, and I mean virtually as in online virtual reality, be able to connect with these agents and find out what they're doing in different areas and what the market's doing. And keeping tabs on the market because it's super important to us to know what's happening in the big metro areas because eventually those upturns and downturns in the industry that happen are going to eventually reach us, even in our little corner of the world. So it's important for us to stay keeping tabs with that stuff and just keeping tabs with everybody in the industry to see what's happening out there.
Dave Burnett: When it comes to high technology, and specifically we're talking about the what the internet provides, it really has changed the real estate business hasn't it?
Thom Dallman: Oh, it really has. There's just so much that's changed from when I started 13 years ago, and the idea that so many people start their searching online. They go online and they start looking at homes sooner than what they used to. Before it used to be when you're ready to look at homes you needed to contact a real estate agent because there wasn't much information online, but everything is online, everything that you need to know is there and available and just fingertips away, just a click away on your computer and you can find pretty much anything that you need to know.
Dave Burnett: In the broadcast industry they talk about getting ahead of the curve, and that is to try to be ahead of what is happening when it comes to progress and technology. And really for real estate, it's no different as far as Core Group @ eXp trying to stay ahead of the curve so that you're on the cutting edge of everything.
Thom Dallman: Exactly. Yeah. We want to be sure to stay on the front end of all the technology that's out there. That's another part of the reason why we want to be a part of this company, eXp, that they've invested so much time in technology and information and the sharing of that technology with all the agents and their virtual world. That's important. It's always been important for Core Group. That was part of our foundation when we started is to be a leading technology company and using all the tech that we can to help our clients, to give them a better experience when it comes to the home and home buying and selling experience.
Dave Burnett: Now as I understand, now your down with about 500 real estate agents there in San Diego. They're from all across the country?
Thom Dallman: From all across, yup, all across the country. They were spouting off everywhere from Florida up to New York to middle of the states.
Dave Burnett: So I'm kind of curious to see, because we're isolated here in The Treasure Valley, things going very well. Real estate continuing to gain in value and things going very well here. What's the general atmosphere or mood that you're receiving from agents and other parts of the nation? What are they experiencing?
Thom Dallman: Well, I'm going to have to be brutally honest with everybody that's listening. There has been chats several times from different keynote speakers about shifts that are happening in certain bigger metro areas. They're already starting to feel a shift, a downturn in pricing, home prices, buyers who are more hesitant to get out there and purchase homes and stuff. So there is a little bit of a slowdown happening. Whether that's indicative of a downturn in the whole economy or not, we're not sure. But there has been some talk of that, let's just say in certain areas.
Dave Burnett: Well let me ask you this, is it because real estate market has been red hot, I mean white hot actually in some ways, that now if it's just busy it seems slower?
Thom Dallman: Exactly. That's my interpretation of it is we've been so busy, we've been so hot that the little slow down is actually getting back a little bit towards normal, or more towards normal, and people just aren't used to it because we just had this really hot economy for so many couple of years that people are just not used to it. And it's not the norm anymore, I guess. We're getting back to the norm.
Dave Burnett: Yeah, because that's what, to me, as we have done this show week after week and the low inventory here in The Treasure Valley week after week after week, that for it to slow down in some ways is not all together bad.
Thom Dallman: No it's not, no. It would actually be good to kind of get back to, especially for our home prices and stuff like that, to get back to an even level in the marketplace.
Dave Burnett: Because it's not real estate cyclical in the sense that it has been such a sellers market recently, that for it to shift back a little bit toward the buyer's end of it for those buying, and it's kind of overdue.
Thom Dallman: Yes, way overdue. It's time for us to get back to a normal market.
Dave Burnett: Yeah, which would be good. Thom Dallman who is down in San Diego speaking to a national convention of real estate agents, talking a little bit about some of the things that you have learned over the past year and in past years as well. But in particular, as you have joined up with the folks at eXp and sharing in technology, anything that you have gathered, little nuggets that you have gathered to bring back to the Boise market?
Thom Dallman: Well, more educational stuff for my agents and helping them to be more well rounded when it comes to discussing things with their clients. That's kind of some of the nuggets that I'm picking up is more pieces for our agents to learn from and to grow with and be better agents for our clients.
Dave Burnett: Very good. If you are looking to buy or sell a home, now is the time to do it. If you want to list a home, it's a great time to do it. And Thom, as you always say, you're more than willing to sit and consult with somebody, no obligation to it. Nobody's going to force your hand or pen to paper if you want to see, is now the time to list your home? You're at no obligation to come in and do that.
Thom Dallman: Yeah, no obligation at all. We're more than happy to sit down with you and go over current market conditions and see what the value is of your home. Free consultation costs nothing and there's no obligation. We're not going to make you sign any paperwork or force you to get your house on the market right then and there. And so we'd love to sit down and chat with you. You should interview multiple agents, we've always said that. We just would like to be one of those agents that you interview and see if we are the fit.
Dave Burnett: All right Thom, I'll let you get back at it. Thom Dallman who is down in San Diego at a conference going on there is talking to realtors from all across the nation about some of the things happening in the real estate world as far as technology, process and progress that's taking place. It is a very different world than it was 10, 15 years ago when it comes to buying and selling your home as you have the internet, you have social media, whether it's Facebook, whether it's Instagram, of ways of selling a home. You need to interview and talk to your real estate agent. If you're looking to list your home right now, give Thom a call and his agents will sit down and talk with you and show you all that they have to offer at Core Group Realty @ eXp, whether it's posted on Facebook, whether it's on Instagram, whichever different direction it'll take. Very different day than it was back years ago where you'd get the mutual listing book and go out with a real estate agent drive all over town and look at homes you didn't want.
You can find those homes listed at CoreGroupRealty.com. And of course they have access to the mutual listing which is updated on a regular basis every day so you can keep track of all of the homes as well as their featured listings as well, at Core Group Realty @ eXp. Give Thom a call today, (208) 933-7777, that is the phone number for you to call to keep in touch with what is going on in the real estate world. Or you can always go to CoreGroupRealty.com. Core Group Realty @ eXp, the sponsor of the Idaho Real Estate Buzz along with the folks at Flagstar Bank. Do yourself a favor. Give them a call today, (208) 933-7777. Find out why they say you get more with Core.
Thom Dallman: This is the Idaho Real Estate Buzz with Thom Dallman, the co-owner also associate broker of CORE Group Realty at EXP. CoreGroupRealty.com is the website. (208)-933-7777, that of course is the phone number to call. We get to talk to Ron Wieczorek each and every week with Flag star Bank, equal opportunity lender. Ron, we were talking during the break a little that you've read some more stuff. You've got a little more on millennials who are really the buying market right now.
Ron Wieczorek: Yeah, I like to give millennials a break for a couple months and then I always come to tractor beam back to millennials because they are our largest cohort of buyers and they have been for the past five years. We always talk about there's a lot of issues, particularly affordability issues that revolve around entry-level homes, so that's where they're primarily buying, because it's their first time in the market in most cases. Sometimes they're a little further on, maybe it's their second home, probably don't see too many from that generation just because of age. But there's some that are pushing 40 now, and millennials at the top end are 38 years.
Thom Dallman: Wow.
Ron Wieczorek: So, there are some that maybe are on the third home.
Thom Dallman: But the term first-time home buyer, that's a whole different world than it was 15 years ago.
Ron Wieczorek: It is.
Thom Dallman: It now comes to cost of home.
Ron Wieczorek: Costs of homes, absolutely. Interests rates are probably a little more favorable then they were, well if we are talking 10 years ago then no.
Thom Dallman: 15 years ago.
Ron Wieczorek: 15 years ago, yes. We've been in a pretty low rate environment for quite a while.
Thom Dallman: Yeah.
Ron Wieczorek: When we date it back to, you know, talk to my dad and the first rate I got was 19%. The house was also forty thousand dollars. I mean, that's a whole different bracket. A survey of millennial first time home buyers, when we talk about first time home buyers, it was found that 52% feel financially ready to make the purchase.
Thom Dallman: So better than half.
Ron Wieczorek: Better than half. That numbers going up and even those without a down payment are now hungry to become home owners. So, in the past you had millennials or the younger generation spending money elsewhere. Instead of maybe going for a down payment and saying OK I'm ready to buy a home, what they were doing was spending it on other things. Whether it is convenient, whether it's entertainment or whatever it was. So, in this survey 70% of those without a down payment said they are willing to cut back on their weekend spending, including shopping and going to the movies, if it means they can purchase housing in the next twelve months. Maybe that's not twelve months, maybe in this survey they really don't know what that means to the weekly budget or the monthly budget.
Thom Dallman: It's that big S word though, sacrifice.
Ron Wieczorek: Sacrifice, it's huge. Sometimes it's not even, I don't think of it as a sacrifice, I think I've talked about this before, you have these apps on the phone now and one of them is where they deliver food to you. I'm not talking about catering for an event for a family member, I'm talking about, I'm sitting on the couch playing video games or whatever and someones bringing my taco bell me.
Thom Dallman: Yes.!
Ron Wieczorek: So that to me seems like an expenditure that doesn't need to be on your books.
Thom Dallman: Correct.
Ron Wieczorek: So that's a lot of the things that are being cut back. Ninety three percent of the respondents, which is a huge number, said they know home ownership is on the rise and they feel excited and hopeful about the home buying process. So, this interest is generating and generating at a high rate of speed, which is great for our industry. Great for real estate in general. That's the next step.
Thom Dallman: I think one of the misconceptions I think about millennials is that they have been for the past ten years living in their mom and dads basement. Which isn't necessarily true they've been in school, they've been living in apartments, maybe two or three living together sharing expenses, there's a few maybe living in the basement. The overall baby boomer generation we see them as all coming out of their parents basement.
Ron Wieczorek: Yeah and there's some credence to that. There's a little credence to that, I'm going to skip ahead to one of topics I was going to talk about today, in just one second. So hold that thought, in your mothers basement.
Thom Dallman: I got it right here.
Ron Wieczorek: So, top three reasons why they want to buy a home. Number one is to have their own space. Number two reason is they are starting a family, they are getting married staring families, that's a big reason to get out of mom's basement if that's where your at.
Thom Dallman: Or with their roommate.
Ron Wieczorek: Or with their roommate and the third is to invest or build wealth. You know they are aware that it starts with making more conscious decisions about their budget, about their spending to go ahead and do that. Another article that I ran across from one in five millennials still live with mom and dad, one in five. So, the study found that approximately fourteen million millennials still live with their mom or both parents. Probably in the basement if they have a basement in the Northeast, if you're here it's probably not a basement. It's 21.9% of millennials that are still living with their parents. That's nine points higher then those of the same age in 2005 and with the higher share ironically having jobs.
So, this isn't what I think is necessarily a bad stereotype that a lot of them live with mom and dad because it does happen. I think the bad stereotype is they're just lazy bums that don't do anything.
Thom Dallman: Yeah, laying playing videos games in the basement.
Ron Wieczorek: Yeah, no that's not.
Thom Dallman: Ordering Taco Bell.
Ron Wieczorek: Yeah, that happens to. It's a tempting stereo type to say that they are just bumming off mom and dad but 10.3 of those living with mom without a job, compared to 19.5 ten years ago. So there was actually a larger, you're talking about ninety percent that are working and trying to get on their feet. There's a lot of different reasons for that. You know student loans.
Thom Dallman: That's a big chunk.
Ron Wieczorek: That's a huge chunk and when some of them are on their own, we are talking about the higher end being 38 years old. Some of them may have been on their own during the collapse in 2008 and really still trying to lick the wounds and get back on their feet. Maybe there is less of that now, just because we are so far away from that but that was a big component of that wave of people. To say, I hate to debunk your living with mom and dad as being a stereo type, there was a lot of that still going on. Its bigger reasons then, it's not that they are just lazy, they're not lazy.
Thom Dallman: I think so. I mean even if you look at it, a one time starter home, you could find one in Boise for 125 thousand dollars. You can't find a shack for $125,000.
Ron Wieczorek: And if you have a home for sale right now that's $125,000, call Dave. All complaints go to Dave on that. You're right, that price is driven up quite a bit and even though the economy is doing better, which it is, all the numbers support that. The unemployment level is at a 50 year low, so that's great, inflation is under control to almost non-existent right now. So all those numbers work, but they're not going up at the speed of the home prices, especially in the Boise area have. So we talked about double digit appreciation over the last year and are we going to see that again.? I hope not really, you know I'm in the industry, and our industry makes more money as homes go up but people have to be able to afford to buy them for us to have our hand in there.
So, I don't think it's going to go up at that rate, but you are exactly right that's where the biggest log jam, the biggest bottle neck and the builders are on to it now. A lot of which you see as far as permits, they are switching their focus, they know that maybe that 800 thousand dollar home is worth building but there is so much demand at that enter level home that's where we are seeing a lot of that.
Thom Dallman: As you look at the subdivisions around the Treasure Valley as you go out toward Eagle. I mean you're talking 2400 square foot, 3500 square foot homes and they are just out of site for someone trying to get in the marketplace.
Ron Wieczorek: Yeah.
Thom Dallman: There's a huge market place for that 14 hundred square foot home,
Ron Wieczorek: There's a huge market place for that and maybe you have to rethink on where you're going to live. That's one of the biggest hurdles right now that we see. When Tom sits down with somebody is they circle an area that they want to live and they say "I want to live here" and it ends up being like an all star team of things. I want them to have the most power but I want them to be a switch hitter and I want them to be, you know you can't get all of that.
Thom Dallman: I want everything.
Ron Wieczorek: I want everything. I want to be close to and convenience is huge at the top of millennials list, that is one thing that hasn't changed. Convenience actually tops their motivation of when they're picking a place to live. Nearly half of millennials buying their first home with their spouses want convenience. They want it to be near somewhere or if its like a center, whether it's a proximity to work. Twenty nine percent chose their home, their first home based off the proximity to work. Eighteen percent of my generation and a little less then that of baby boomers chose it off the proximity of work. They did not make choices based off convince as much as they did " Where do I fit.?", " Where's a necessity.?", "Where can I buy.?".
Thom Dallman: That is the way I bought, I bought thinking "OK, that's fairly close to home, makes my commute shorter." It is not because it is a convenient spot.
Ron Wieczorek: So, the proximity to work is a big one, schools is a big one, maybe they are looking ahead at the family aspect. If you buy in a center where the school zones are better, they hold a value better and you are probably thinking ahead.
Thom Dallman: You know as we talk about this and millennials, I'm looking for mortgage advice here or the financial nuts and bolts of it. If somebody is a millennial and they are just getting into the marketplace, whether their living with roommates or by themselves trying to do it. What are the steps they need to take with you a Flag star.?
Ron Wieczorek: Well and add to that, now we know they are ready, their mind frame is saying "Hey, this I know a good investment again and this is something that is really going to mean something for me to take the next step." The next step is to call me, on my cellphone, which is always on me, that's (208)869-9154. We just look at what that looks like for you. Everyone is a bit different on where they are in their career, what their budget looks like and we can map out a plan, whether it's you're ready right now or you're ready 3 months from now or 6 months from now, a year from now. It's better to know where you sit before that year passes and you've done nothing.
Thom Dallman: Yeah. Just try to jump into the fire.
Ron Wieczorek: Then you get excited about home and you're like "We love this." And you find out something on there that you're like "Oh." That can be deflating, right.?
Thom Dallman: Well yeah, it could be a deal breaker.
Ron Wieczorek: Right, absolutely.
Thom Dallman: There could be things lurking. So if someone wants to sit down with you Ron and do a bit of consulting, you know just assessing where we are at, consultation no obligation.
Ron Wieczorek: No obligation, no fee, in fact I enjoy doing it and if it is nothing more then a coaching session of this is how this works, this is what the new industry looks like and this is how to prepare, it is something I do every day, I have done for nineteen year and love doing.
Thom Dallman: Ron, again your phone number if somebody wants to get a hold of you.?
Ron Wieczorek: Direct number is my cell is, (208)869-9154.)
Thom Dallman: Perfect. Flag Star Bank, equal opportunity lender and one of the sponsors to the Idaho Real Estate Buzz, along with Thom Dallman the folks at Core Group Realty at exp. If you didn't get Ron’s number, you can get it at the Core Group website, which is CoreGroupRealty.com or call (208)933-7777. Find out why they say you get more, with core.
Dave Burnett: This is the Idaho Real Estate Buzz. He is Thom Dallman, the Associate Broker and Co-Owner at Core Group at eXp. It's a chance for us to get together and talk about the people on the preferred vendors list is what we're doing.
Thom Dallman: Yep. Yep. We have our list of people that we have worked well with and do a great job for us and have really served our clients well with the same core values as us. For example, we have Darius from One Call Restoration in the studio with us today, and Darius, following our core value of knowledge and seeking knowledge, just recently got certified for asbestos cleanup, correct?
Darius Elison: Yeah, cleanup and abatement, and yeah, it's pretty exciting.
Dave Burnett: Asbestos is something I know that back in the '70s and '80s very common. How important is that for you in restoration to get certified in that is that?
Darius Elison: It's just important to have certified companies available, and we're really short here in the Valley on companies, and to just keep people safe, and just educate customers and make sure people are making the right decision for the safety of themselves and their families.
Dave Burnett: Is that because working with older homes, perhaps, or older businesses or buildings, you're going to run into it?
Darius Elison: Oh, absolutely. Especially with the home buying process right now, a lot of people are looking for those investment properties where they can come in and do the work. And it's important to know a little bit about asbestos abatement and what things to look for when purchasing the homes so they make educated decisions on their buying, and also be able to negotiate stuff like that into the contract price, because it is an expensive area to get rid of. It's better to know what you're looking at ahead of time than purchase the house and then be behind the 8-ball.
Dave Burnett: I overheard you and Thom talking during the break the fact that it's not just you that got certified, everyone there at One Call Restoration has to get certified?
Darius Elison: Every single person on the job site has to be certified, and it's an extensive certification process with testing. It's definitely no joke. They want to make sure everybody's safe.
Thom Dallman: Yikes.
Dave Burnett: Well, let me as you this. When it comes to asbestos, first of all, explain for ... There are some people-
Thom Dallman: I was going to say, in layman's term, kind of what's-
Dave Burnett: Yeah. What is asbestos?
Thom Dallman: ... what is ... Why is it dangerous?
Darius Elison: Asbestos is actually just a serpentine rock. It's made of thin mineral fibers, but it's just a rock, which because the fibers are thin and flexible they have fire resistance tendency, because again, it's just a mineral, and they're highly durable, and the tensile strength of asbestos is actually greater than the tensile strength of steel.
So starting in the 1920s, it was used in concrete products for water lines. We still see a lot of that today in our water mains, even around Boise, then into concrete siding. And then through the '30s to '50s, it was used in insulation quite a bit, and then all the way up till '78, when the first ban came into place, it started just taking off in all sorts of products. The most common stuff that we see in home purchasing is popcorn ceiling, floor tiles, sheet vinyl, insulation, siding, and roofing. Those are probably the main areas.
Dave Burnett: Now, of course, I think it was used primarily for its fire resistant properties that it had, and I've always heard it associated with popcorn ceilings.
Thom Dallman: Mm-hmm (affirmative).
Darius Elison: Correct.
Dave Burnett: If I walk into a home, Thom is showing me a home, and it's got popcorn ceilings, should I immediately go, "Oh, my God, it's asbestos"?
Darius Elison: The chances are that it's going to be asbestos. '78 was the first ban, but they continued to fight the ban and use the products all the way through to the '80s. And so, anything 1980 or below that, popcorn ceilings, you really run the high risk of it being asbestos. And it's relatively safe if it's left undisturbed. If you have a popcorn ceiling, and you just got latex paint on it, and you're going to put another coat, it's fine, but if you don't like texture pattern-
Dave Burnett: If you decide you're going to take it off, then there's a problem?
Darius Elison: Yeah, you need to just talk to somebody beforehand and maybe even get a pre-estimate so you can work that into the negotiation price of the home.
Dave Burnett: Darius is with us with One Step Restoration. So, let me ask you this question then. If I buy a house, or I'm looking at a house, is that something you'll come out and say, "Yep, you've got this problem or that problem," and give an estimate on it?
Darius Elison: Yeah, it only takes less than a day to get your sample tested and come back with a result, so you can know fairly quickly. It's a very small area that has to be disturbed in order to get the testing done. And a lot of this stuff, especially floor tile, sheet vinyl, it's very easy to just overlay those products. You don't necessarily have to remove them, even when remodeling your floor. Our biggest concern is the big safety hazards for home owners, like insulation and popcorn ceiling, anything they consider fryable in the industry, which is it could just become easily airborne, because those fibers, those minerals, it's the ones that you can see in the air our bodies are going to naturally reject. It's the smaller ones around the five micron size that are causing the lung cancer and the mesothelioma. And the biggest concern isn't for the risk of the people doing the abatement work, it's the kids, because as that stuff falls, it takes up to five days for those fibers to fall, so we're breathing it in at a five to six foot area, because we're taller. Kids are obviously shorter-
Thom Dallman: Oh, kids are-
Darius Elison: ... so they're breaking it in for a longer period of time, and it's just bad news. And it's got a long latency period, anywhere from 10 years to 40 years, but that's still not something you want to see develop in anybody.
Thom Dallman: No, not at all.
Darius Elison: I had a good friend that does contracting in eastern Idaho, and he's been a remodeling contractor forever, and he just passed away less than five years ago, way ahead of his time, from mesothelioma, which I would imagine was due to exposure.
Dave Burnett: Wow. Thom, I think it was last week you were talking about preexisting conditions in a home that have to be disclosed. Is asbestos one of those things that has to be disclosed?
Thom Dallman: Not that I'm aware of.
Dave Burnett: Wow.
Thom Dallman: Once again, I think that ethically that people should disclose it, if they have any knowledge, but it's not one of those things that people typically have knowledge of necessarily. So, yeah.
Dave Burnett: Wow. So for you and your company, is there a magic year in a property that you know it needs to be checked or not?
Darius Elison: I always say anything 1980 or below. There's still products coming in right now from building products. We get a lot of stuff coming in from China. So if you're getting Formica or laminating products from China, there's not the same regulations over there, and it's getting in. So we're seeing a lot of even new building products with it, and a lot of people don't realize that insulation as a whole, you should always wear respirators when dealing with that, or some sort of breathing protection, because even brand new insulation can have up to 1% asbestos content.
Dave Burnett: Yikes. One Call Restoration, Darius is with us today as we're talking about asbestos, something that One Call Restoration has recently has been certified in, for dealing. And so, people need to know that, I guess, if you're going to eeny, meeny, miny, moe, and pick out a restoration cleanup company, you need to know if they are certified for this or not.
Darius Elison: Yeah, they definitely need to be certified. Idaho's thankfully one of the areas that's not overly regulated. In fact, a lot of people understand as homeowners they can do certain things themselves. Asbestos is a little bit different. You can as a homeowner remediate yourself. If you're dealing with one of those airborne products, it's definitely not recommended. That is a serious health risk. It's not one of those things that's just ... Like electrical, you need to know what you're doing. You need to be a professional to take care of it, and it's just so easy to have somebody come in and take a few samples before you buy the house or before you start the renovation. Just make sure everybody's safe. But even you did remediate or abate the product yourself, you still run into the problem of getting rid of it, because although legally you could take that product off of your house yourself, you still are required by the DEQ to dispose of it properly.
Dave Burnett: You can't just-
Darius Elison: So-
Dave Burnett: ... take it to the dump?
Thom Dallman: You can't just go to the dump and-
Darius Elison: ... if you showed up at the dump without proper documentation and labeling, you're looking at anywhere from a 5 to $250,000 fine.
Thom Dallman: Wow.
Dave Burnett: Yikes.
Darius Elison: And the requirements is, I mean, labeled trash bags that are double layered. We also have to have an additional label on the outside of the trash bag showing where it was generated from, who did the abatement, as well as a transfer slip from every person that handles it from the time we receive the product to the time it gets to the dump. The dump also has to sign off on it and bury it that same day, and you usually need to notify them before you even head up there.
Dave Burnett: Wow.
Thom Dallman: Wow. That's really extensive. I was going to ask what's that process like, but sounds like it's pretty expensive. How long does it take from a standard, I don't know, say it's an insulation project that you have to clear out, how long of a time frame do people look at for that abatement?
Darius Elison: Well, we got to get clearance testing, and it just depends on the scope of the project. We have a project that we're taking care of, as a good example, later this week where it's a popcorn ceiling, and it's going to take a day to set up. It's going to take probably a day and a half on the abatement, and then we'll have to wait an additional day for the MTI to come in and do a clearance test. And the standard for clearance testing is you need to be below .01 fibers per cubic centimeters.
Thom Dallman: Wow.
Darius Elison: That's the maximum exposure to the house, and so, yeah. We have to pass that before people are allowed back in the house. So usually give it a week, depending on the size of the project. If it's something small like laminate or vinyl tiles, we can usually get that stuff up same day.
Dave Burnett: I was just checking. Oh, nope. I don't have the equipment to measure that, so I'm out of luck-
Thom Dallman: Yeah, right.
Dave Burnett: Darius, as you went through the certification process on it, was there something that stood out to you as going, "I had no idea"? Something that really kind of jumped out at you as far as what you learned in the certification process.
Darius Elison: I pretty much had a good idea of it, because I've doing property restoration for a long time and home building before that, and so I knew a lot about it. A good story that we got out of it though is because the properties of fire resistant material, our instructor told us a story about back in the 1400s of a king that used the fibers to actually make his tablecloth. So rather than disposing of it when it go dirty after the meals, he'd be able to throw it in the fire, burn off the stains, and pull it out of the fire intact, and it was kind of like a cool parlor trick, but at the same time, I'm sure he was putting all sorts of fibers into the air as he shook it out.
Thom Dallman: Oh, my God.
Dave Burnett: Who knows what he died from? Unbelievable.
Darius Elison: I don't think they lived that long back then anyway, but-
Dave Burnett: One Call Restoration is a company if you're purchasing a property that's pre-1980, you really do need to have it checked out if you're planning on doing renovation for that. Darius, do they get a hold of you if they want to talk to you about this?
Darius Elison: Oh, just call our office and schedule a time to come and get some samples. Our office number is 208-850-7206.
Dave Burnett: All right, very good. And if you didn't catch that number, you can always go to coregrouprealty.com. They're on the preferred vendors list, and you can find the link through there to get to One Call Restoration.
Thanks so much for coming in and sharing, and congratulations. I mean, I'm sure there's a lot of financial investment as well as time investment in getting certified for the asbestos ... I guess, not renovation. What would it be?
Thom Dallman: Abatement.
Darius Elison: Abatement.
Dave Burnett: Abatement. So, congratulations there.
Darius Elison: Thank you.
Dave Burnett: We'll continue on the other side. This is the Idaho Real Estate Buzz being brought to you by the folks at Core Group at eXp. So check them out. Call them, 208-933-7777. Find out why they say you get more with Core.
Dave Burnett: This is the Idaho Real Estate Buzz. He is Thom Dallman, the co-owner, associate broker at Core Group Realty @ eXp, CoreGroupRealty.com the website, 208-933-7777, that's a phone number for you to call anytime to get more information about Core Group, about the website, about what's going on and to contact the agents including Thom at the Core Group Realty.
Thom Dallman: Yeah. Exactly.
Dave Burnett: It's interesting. I know you, I want to talk a little bit about Core Group Realty @ eXp. I know when you came to the area you were involved in real estate. Next year, it'll be 10 years for Core Group.
Thom Dallman: For Core Group yeah.
Dave Burnett: You came originally, were you a house flipper or what were you doing when you first came?
Thom Dallman: Well, my previous life as I like to call it technically was in human resources when I moved into town. I was the director of human resources for Smokey Mountain Pizza and Pasta, a local restaurant chain. I did that for about three years when I first moved here in 2002, and then from there, I left to get into house flipping like you said. So I wasn't a licensed realtor, but I would help people out of short sales situations where they were upside down in their home. Distressed situations and tried to help them get the home sold before it went into foreclosure. And then on top of that, I would also buy homes and flip them and rehab them and just do that whole nine yards, just like you see on HGTV.
Dave Burnett: Where you found out that the TV shows are not like reality.
Thom Dallman: Nope.
Dave Burnett: It doesn't happen in an hour.
Thom Dallman: Exactly, exactly. And then it was 2009 is when I got licensed. So yeah, I've been licensed now 10 years, but I like to say that I've been in the real estate business for 13, 14 years because the flipping and the short sales and stuff like that. But in 2009 I decided to kind of-
Dave Burnett: - school of hard knocks.
Thom Dallman: Yeah, right. And then in 2009, I decided to kind of get away from doing the flips and all that stuff, even though we were in a crash, and that was a great time to actually buy houses and stuff like that. I wanted to focus more of my energy because we were crashing on helping people in these distressed situations and stuff. So it became really important to me to be able to help as a licensed real estate agent to be able to negotiate with banks on short sales and stuff like that. And so I got my license and my partner and I started a team over at RE/MAX. Then in 2010, we realized that we had a unique internet presence that we had been working on for a year, and it was starting to get real. It was starting to really build. And so we started chatting with some friends of ours and came to the conclusion that we could combine our resources because they were kind of helping manage the team as well at another brokerage.
So we thought, "Let's join forces and create our own brokerage, so in June of 2010, so next year will be our 10 year anniversary for Core Group. In June of 2010, we basically opened up Corporate Realty. It was a little office down in Eagle.
Dave Burnett: Now, I know when I started doing this program, and I can't even remember, I was working with your business partner, Gabe Cordova.
Thom Dallman: Yep.
Dave Burnett: And helping him, he's expanded off on other avenues at this point.
Thom Dallman: Exactly, other avenues.
Dave Burnett: But Core Group Realty continued to grow and to flourish even through what I consider very difficult times economically.
Thom Dallman: Well, if you think that the bottom of the market was in 2011 was technically the worst time to be a real estate agent. In fact, so much that at the height of the market there was 5,000 some real estate agents in the marketplace and by 2011 I think it dropped down to 1600 real estate agents. Yeah. So many people had to leave the industry just because they couldn't make it happen. They couldn't manage it and stuff like that.
Dave Burnett: It's funny, the other day I was just off Floating Feather Road. There's a street and a subdivision. I remember when things were spiraling downward. There were homes, we're talking at that time, $225,000 homes that were started and just stopped.
Thom Dallman: Just stopped, oh, yeah.
Dave Burnett: Just stopped and I remember thinking, "They're going to have to rebuild half of that whenever it comes back around."
Thom Dallman: Oh, yeah, yeah.
Dave Burnett: Now, those are big flourishing subdivisions.
Thom Dallman: Exactly. Well, the house that I currently live in was one of those houses.
Dave Burnett: Was it?
Thom Dallman: It started during the height of everything, the crash happened and then it just was kind of a shell sitting there and we ran across it and just fell in love with it. And so we're able to track down the owners and make an offer and buy it and finish it out. And that was in 2009 as well.
Dave Burnett: I'm going to hit you with a question out of left field. You don't know I was going to ask you this question, but during that time when it was difficult times, what would you say you learned out of those difficult times that you can carry with you and say, "You know what, I learned that then and it helps me today."
Thom Dallman: I think the biggest thing that we learned actually it's our motto, client oriented real estate. That's where Core came from is client oriented real estate. We learned that if you are just there to provide service, it'll happen. It'll all happen. You don't have to constantly try to get people to go buy a house. It'll happen if and when it's ready for them and stuff like that. Just be there for them to answer questions and that's why we do this radio show. That's why we like to get out into the public and educate people. We participate in community events so that we can be out there answering questions about the home buying process and stuff like that because to us it's about nurturing the clients. Whether you are buying a $30,000 manufactured home or you're buying a $1 million mansion. To us, you're all the same. Everybody's the same needs to be treated with respect and with service. Not trying to force you into a home.
Dave Burnett: Not just signing a contract.
Thom Dallman: Exactly, exactly. So I think that's the one thing that we learned is to be humble and to appreciate every client for themselves and treat them with the respect they need and look, "Hey, if you have bad credit and it's two years out, that's cool. Let's make sure we stay in touch and keep looking at the market. I'll keep you updated on it, and stuff like that and touch base with you every once in a while to see how the credit repair is going," and stuff like that. So to us, it's the relationships, it's the building the relationships that we learned during that time frame. Especially with my experience in helping people in short sales and distress situations. You were going into these homes that people thought they were going to be in there forever and here they are losing them because they lost jobs-
Dave Burnett: -falling apart.
Thom Dallman: Yeah, things started falling apart. So it really humbled me and taught me how to just be there for our clients.
Dave Burnett: One of the things that as we have done this show, and I say this on a regular basis, but I know you keep it in mind and I know some of you've been keeping mind that for me as a customer I do this buying a home thing once in a while. You guys do it day in, day in, and day out. But I think you're cognizant of the fact that the average person coming through the doors at Core, it's not something they do day in and day out. It's a scary situation in a sense.
Thom Dallman: The people that I'm helping right now, I have some clients that I'm helping that they bought their house 10 years ago. It was their first and last time they did a transaction. They never anticipated that they would ever think about buying a house. This was going to be there forever house. They've grown, they've had a couple of kids, they're growing and decided that they need more room and what not. So now it's like starting all over again, they're like, "We can't remember what we did 10 years ago. What's earnest money? Oh, wait we had to come up with-
Dave Burnett: It's a different world.
Thom Dallman: Yeah, we had to come up for money for inspections. So yeah, people live in their homes on average 10 years right now is what the average home ownership is. So yeah, a lot changed in 10 years.
Dave Burnett: Okay, so Core, you advanced and you progress through the recession, things start rebounding. And where did Core go from there?
Thom Dallman: Well, we kind of grew as a company and in about 2016 was when you mentioned our partner, Gabe, decided to go off on new ventures. He had an opportunity that he just couldn't pass up and wanted to kind of seize it, and so that left me and the other two owners kind of debating on what to do and they had kind of gotten to a point where they just kind of wanted to do a family brokerage and just kind of be with their family. So I ended up buying them out of Core Group and taking over the company myself and running it myself.
Dave Burnett: - your brokers.
Thom Dallman: Yeah. I got my broker's license, I became a designated broker. Started running Core Group myself and managing the agents and stuff like that. And so once again, training them, being their present for them, supervising them, making sure that they're treating our clients the way we want them, the way they should be treated. And then, yeah, pretty much did that up until September of last year when we decided to combine Core Group with eXp Realty and merge into eXp Realty, which now, we have now the availability of agents, not only across the US but now we're in three provinces in Canada. They were about to open up two more provinces. At the last shareholders meeting that I went to, they just announced also that we're looking at expansion into the UK and Australia. So I said, "Sign me up, I'll go to Australia and help you guys open that up." It's one of my bucket list places to go.
Dave Burnett: That's great.
Thom Dallman: Yeah, they're working on expansion into other areas because eXp has such a unique proposition in the marketplace for a virtual brokerage instead of the traditional brick and mortar brokerages that you see around. So it affords the flexibility of agents to be able to work from wherever they want and stuff like that and still be connected and still be connected with agents over around the US that you can brainstorm with if something happens, "Hey, what's the best practice for doing this? I have these people who were trying to make an offer. We're trying to make it look better. What can we do?" So now, instead of just our small group, we are now connected to, I think we're at almost to 20,000 I think we're going to reach 20,000 agents by the end of this year.
Dave Burnett: As we, let me put a bow on all of this to say that if you are in position if you're in the marketplace right not to buy or sell your home in the past almost 10 years, Core Group has now established itself as a member of the community. There's a lot of good real estate agencies in town. And really, Tom, I know you are a firm believer that make sure you get a credible real estate agent. Interview them, talk to them, make sure the company is a good fit of which when you're doing that interviewing, clue the folks at Core. Give them a call-
Thom Dallman: I'd love that opportunity.
Dave Burnett: And a chance to kind of tell you what they're about and what's unique about Core Group Realty at eXp.
Thom Dallman: Exactly.
Dave Burnett: If somebody wants to get a hold of you, Thom, how did they do it?
Thom Dallman: Give us a call 208-933-7777. Send an Email firstname.lastname@example.org or just go to our website, CoreGroupRealty.com and send us a message through there.
Dave Burnett: Perfect. Flagstar Bank, one of the sponsors of the Idaho Real Estate Buzz along with the folks at Core Group Realty at eXp. Find out why they say you get more with Core.
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